|
|
|
MIRA INFORM REPORT
|
Report No. : |
485437 |
|
Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
FAREAST DISTRIBUTION
AND LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
143, Cecil Street, 03-02, Gb Building,
069542 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2017 |
|
|
|
|
Date of Incorporation : |
11.05.2010 |
|
|
|
|
Com. Reg. No.: |
201010126G |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
general trading. |
|
|
|
|
No. of Employees : |
22 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys
a remarkably open and corruption-free environment, stable prices, and a per
capita GDP higher than that of most developed countries. Unemployment is very
low. The economy depends heavily on exports, particularly of consumer
electronics, information technology products, medical and optical devices,
pharmaceuticals, and on its vibrant transportation, business, and financial
services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial crisis,
but has continued to grow since 2010. Growth in 2014-16 was slower than during
the previous decade, at under 3% annually, largely a result of soft demand for
exports amid a sluggish global economy and weak growth in Singapore’s
manufacturing sector.
The government is attempting to restructure Singapore’s economy by
weaning its dependence on foreign labor, addressing weak productivity growth,
and increasing Singaporean wages. Singapore has attracted major investments in
advanced manufacturing, pharmaceuticals, and medical technology production and
will continue efforts to strengthen its position as Southeast Asia's leading
financial and technology hub. Singapore is a member of the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea, and New Zealand. In
2015, Singapore formed, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
|
REGISTRATION NO. |
: |
201010126G |
|
COMPANY NAME |
: |
FAREAST DISTRIBUTION AND LOGISTICS PRIVATE
LIMITED |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
11/05/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
143, CECIL STREET, 03-02, GB BUILDING,
069542, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
68, COVE DRIVE, 098181, SINGAPORE. |
|
TEL.NO. |
: |
65-65333354 |
|
FAX.NO. |
: |
65-63536654 |
|
CONTACT PERSON |
: |
OOI AI LING ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
GENERAL TRADING |
|
ISSUED AND PAID UP CAPITAL |
: |
1.00 ORDINARY SHARE, OF A VALUE OF SGD
1.00 |
|
SALES |
: |
USD 2,230,320,016 [2017] |
|
NET WORTH |
: |
USD 11,504,511 [2017] |
|
STAFF STRENGTH |
: |
22 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The subject is principally engaged in the (as
a / as an) general trading.
The immediate holding company of the Subject
is FAUSTA LIMITED, a company incorporated in VIRGIN ISLANDS, BRITISH.
Former Address(es)
|
Address |
As At Date |
|
8 TEMASEK BOULEVARD #42- 04 SUNTEC TOWER
THREE, 038988 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/01/2018 |
SGD 1.00 & USD 500,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FAUSTA LIMITED |
P.O. BOX 957, OFFSHORE INCORPORATIONS
CENTRE, ROAD TOWN, TORTOLA VIRGIN ISLANDS, BRITISH |
T15UF2481 |
500,000.00 |
100.00 |
|
FAUSTA LIMITED |
P.O. BOX 957, OFFSHORE INCORPORATIONS CENTRE,
ROAD TOWN, TORTOLA VIRGIN ISLANDS, BRITISH |
T15UF2482 |
1.00 |
0.00 |
|
--------------- |
------ |
|||
|
500,001.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
OOI AI LING |
|
Address |
: |
7, PASIR RIS DRIVE 4, 08-05, THE ESPARIS,
519459, SINGAPORE. |
|
IC / PP No |
: |
S7676278C |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/04/2015 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
201437471E |
FAREAST COAL & ENERGY RESOURCES PTE.
LTD. |
Secretary |
17/12/2014 |
0.00 |
- |
- |
- |
- |
19/10/2016 |
|
2 |
201010126G |
FAREAST DISTRIBUTION AND LOGISTICS PRIVATE
LIMITED |
Director |
10/04/2015 |
0.00 |
- |
USD1,230,599.00 |
2017 |
- |
15/01/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
OOI AI LING |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
CG ALLIANCE |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
WONG SHAW MOOI |
|
IC / PP No |
: |
S7960880G |
|
|
Address |
: |
503, ANG MO KIO AVENUE 5, 04-3770, CHENG SAN
CREST, 560503, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Goods Traded |
: |
GENERAL TRADING |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2015 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
22 |
22 |
6 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) general trading.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65333354 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
143 CECIL STREET, #03-02 GB BLDG 069542 |
|
Current Address |
: |
68, COVE DRIVE, 098181, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other Investigations
we contacted one of the staff from the Subject's registered office and she
provided limited information.
The address provided is the Subject's registered office.
She refused to disclose the Subject's bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2015 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2015 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.70% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
182.55% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The Subject's profit
fell sharply because of the high operating costs incurred. The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
The favourable debtors' days could be due
to the good credit control measures implemented by the Subject. The Subject had
a favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
316.10 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
316.10 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to meet
short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
1.07 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was low. If
its profits fall or when interest rate rises, it may not be able to meet
all its interest payment. The Subject had no gearing and hence it had
virtually no financial risk. The Subject was financed by its shareholders'
funds and internally generated fund. During the economic downturn, the
Subject, having a zero gearing, will be able to compete better than those
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject recorded lower profits as its turnover
showed a erratic trend. The Subject's management was unable to control its
costs efficiently as its profit showed a downward trend. The Subject was in
good liquidity position with its total current liabilities well covered by
its total current assets. With its current net assets, the Subject should be
able to repay its short term obligations. If there is a fall in the Subject's
profit or any increase in interest rate, the Subject may not be able to
generate sufficient cash-flow to service its interest. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall financial condition of the Subject
: FAIR |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population (Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood & Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper & Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing & Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical & Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber & Plastic Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery & Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport, Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance & Insurance |
0.50 |
3.30 |
6.00 |
- |
7.40 |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production
(2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale & retail trade sector
expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in
the preceding quarter. Growth was supported by both the wholesale trade and
retail trade segments. The wholesale trade segment was boosted by an increase
in both domestic and foreign wholesale trade sales volume. In particular, the
domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in
the previous quarter. The strong performance in domestic wholesale trade was
due to a surge in the sales of petroleum and petroleum products (14%),
chemicals & chemical products (39%) and telecommunications &
computers (18%). |
|
|
Similarly, the foreign wholesale trade
index rose by 10% in the third quarter of 2015, accelerating from the 6.9%
rise in the previous quarter. Growth was driven by improvements in the sales
of petroleum & petroleum products (21%), metals, timber &
construction materials (10%) and general wholesale trade (8.8%). |
|
|
Overall retail trade sales volume also recorded
resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 %
expansion in the second quarter. Growth was supported by a surge in the
volume of motor vehicle sales (44%), which was in turn due to a substantial
increase in the supply of Certificate of Entitlements. Excluding motor
vehicles, retail sales volume increased at a much slower pace of 0.7% over
the same period. The increase in retail sales volume (excluding motor
vehicles) was due to improved non-discretionary goods sales. For instance,
the sales of medical goods & toiletries and department store goods rose
by 8.1% and 3.6% respectively. |
|
|
According to the Retail News Asia, Food and
beverage has overtaken fashion as the primary driver of demand for retail
real estate in Singapore. Despite declining retail sales and consumer
spending, the prime retail sector remained in good shape during the third
quarter 2015. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
FAREAST DISTRIBUTION AND LOGISTICS PRIVATE
LIMITED |
|
Financial Year End |
2017-06-30 |
2016-06-30 |
2015-06-30 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
|
TURNOVER |
2,230,320,016 |
2,844,901,614 |
2,806,399,369 |
|
Other Income |
- |
101,265 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,230,320,016 |
2,845,002,879 |
2,806,399,369 |
|
Costs of Goods Sold |
(2,209,278,253) |
(2,824,582,281) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
21,041,763 |
20,420,598 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,449,736 |
2,660,248 |
5,118,971 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,449,736 |
2,660,248 |
5,118,971 |
|
Taxation |
(219,137) |
(233,416) |
(787,445) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,230,599 |
2,426,832 |
4,331,526 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
9,773,911 |
7,347,079 |
6,711,670 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
9,773,911 |
7,347,079 |
6,711,670 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
11,004,510 |
9,773,911 |
11,043,196 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
11,004,510 |
9,773,911 |
11,043,196 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Letter of credit |
18,191,918 |
15,195,552 |
- |
|
Others |
1,360,360 |
2,537,036 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
19,552,278 |
17,732,588 |
- |
|
|
============= |
============= |
- |
|
|
|
|
|
|
BALANCE SHEET
|
|
FAREAST DISTRIBUTION AND LOGISTICS PRIVATE
LIMITED |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
- |
- |
0 |
|
Other debtors, deposits & prepayments |
11,023,350 |
9,656,429 |
- |
|
Cash & bank balances |
517,672 |
889,580 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
11,541,022 |
10,546,009 |
12,704,458 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
11,541,022 |
10,546,009 |
12,704,458 |
|
============= |
============= |
============= |
|
|
Other creditors & accruals |
18,153 |
25,766 |
- |
|
Amounts owing to related companies |
- |
12,915 |
- |
|
Provision for taxation |
18,358 |
233,416 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
36,511 |
272,097 |
1,661,263 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,504,511 |
10,273,912 |
11,043,196 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
11,504,511 |
10,273,912 |
11,043,196 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
500,001 |
500,001 |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,001 |
500,001 |
0 |
|
Retained profit/(loss) carried forward |
11,004,510 |
9,773,911 |
11,043,196 |
|
Others |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
11,004,510 |
9,773,911 |
11,043,196 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
11,504,511 |
10,273,912 |
11,043,196 |
|
TOTAL LONG TERM LIABILITIES |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
11,504,511 |
10,273,912 |
11,043,196 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL RATIO
|
|
FAREAST DISTRIBUTION AND LOGISTICS PRIVATE
LIMITED |
|
TYPES OF FUNDS |
|||
|
Cash |
517,672 |
889,580 |
- |
|
Net Liquid Funds |
517,672 |
889,580 |
- |
|
Net Liquid Assets |
11,504,511 |
10,273,912 |
11,043,195 |
|
Net Current Assets/(Liabilities) |
11,504,511 |
10,273,912 |
11,043,195 |
|
Net Tangible Assets |
11,504,511 |
10,273,912 |
11,043,196 |
|
Net Monetary Assets |
11,504,511 |
10,273,912 |
11,043,195 |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
- |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
21,002,014 |
20,392,836 |
- |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
36,511 |
272,097 |
1,661,263 |
|
Total Assets |
11,541,022 |
10,546,009 |
12,704,458 |
|
Net Assets |
11,504,511 |
10,273,912 |
11,043,196 |
|
Net Assets Backing |
11,504,511 |
10,273,912 |
11,043,195 |
|
Shareholders' Funds |
11,504,511 |
10,273,912 |
11,043,196 |
|
Total Share Capital |
500,001 |
500,001 |
- |
|
Total Reserves |
11,004,510 |
9,773,911 |
11,043,196 |
|
GROWTH RATIOS (Year on Year) |
|||
|
Revenue |
(21.60) |
1.37 |
- |
|
Proft/(Loss) Before Tax |
(45.50) |
(48.03) |
- |
|
Proft/(Loss) After Tax |
(49.29) |
(43.97) |
- |
|
Total Assets |
(9.16) |
(16.99) |
- |
|
Total Liabilities |
(97.80) |
(83.62) |
- |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
14.18 |
3.27 |
- |
|
Liquid Ratio |
316.10 |
38.76 |
- |
|
Current Ratio |
316.10 |
38.76 |
7.65 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
- |
|
Debtors Ratio |
0 |
0 |
- |
|
Creditors Ratio |
0 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0 |
0 |
- |
|
Liabilities Ratio |
0 |
0.03 |
0.15 |
|
Times Interest Earned Ratio |
1.07 |
1.15 |
- |
|
Assets Backing Ratio |
23.01 |
20.55 |
- |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.07 |
0.09 |
0.18 |
|
Net Profit Margin |
0.06 |
0.09 |
0.15 |
|
Return On Net Assets |
182.55 |
198.49 |
46.35 |
|
Return On Capital Employed |
182.55 |
198.49 |
46.35 |
|
Return On Shareholders' Funds/Equity |
10.70 |
23.62 |
39.22 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.41 |
|
|
1 |
INR 87.17 |
|
Euro |
1 |
INR 77.45 |
|
SGD |
1 |
INR 48.15 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.