|
|
|
MIRA INFORM REPORT
|
Report No. : |
486009 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
OXYDE CHEMICALS SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
4, Battery Road, 25-01, Bank Of China Building, 049908 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
10.07.2014 |
|
|
|
|
Com. Reg. No.: |
201420249M |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the trading of chemicals and
plastic. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
No Complaints |
|
|
|
|
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. |
: |
201420249M |
|
COMPANY
NAME |
: |
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
10/07/2014 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
4,
BATTERY ROAD, 25-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
8,
EU TONG SEN STREET, 20-88 THE CENTRAL, 059818, SINGAPORE. |
|
TEL.NO. |
: |
65-62216327 |
|
FAX.NO. |
: |
65-62215871 |
|
CONTACT
PERSON |
: |
JULIO
ANDRES VASQUEZ VILLARREAL ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF CHEMICALS AND PLASTIC |
|
ISSUED
AND PAID UP CAPITAL |
: |
100,000.00
ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
USD
19,602,142 [2016] |
|
NET
WORTH |
: |
USD
501,608 [2016] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STABLE |
|
PAYMENT |
: |
NO
COMPLAINTS |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
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) trading of chemicals and plastic.
The immediate and ultimate holding company of
the Subject is OXYDE INTERNATIONAL LIMITED, a company incorporated in VIRGIN
ISLANDS, BRITISH.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
15/01/2018 |
SGD
100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
OXYDE
INTERNATIONAL LIMITED |
ARAWAK
CHAMBERS, SEA MEADOW HOUSE, P.O. BOX 173, BLACKBURNE HIGHWAY VIRGIN ISLANDS,
BRITISH |
T14UF3054 |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
JULIO
ANDRES VASQUEZ VILLARREAL |
|
Address |
: |
91,
KELLOCK ROAD, 03-02, MELROSE PARK, 248903, SINGAPORE. |
|
IC
/ PP No |
: |
G3089892W |
|
Nationality |
: |
MEXICAN |
|
Date
of Appointment |
: |
01/10/2014 |
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 |
201420249M |
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
Director |
01/10/2014 |
0.00 |
- |
USD450,511.00 |
2016 |
- |
15/01/2018 |
DIRECTOR
2
|
Name
Of Subject |
: |
JOSE
FERNANDO RODRIGUEZ |
|
Address |
: |
225,
PENNBRIGHT DRIVE, HOUSTON, TEXAS, 77090-00, UNITED STATES. |
|
IC
/ PP No |
: |
439128322 |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
18/07/2016 |
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 |
201420249M |
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
Director |
18/07/2016 |
0.00 |
- |
USD450,511.00 |
2016 |
- |
15/01/2018 |
DIRECTOR
3
|
Name
Of Subject |
: |
JEFFREY
WILLIAM TOMZ |
|
Address |
: |
3,
ISLEWOOD BOULEVARD, THE WOODLANDS, TEXAS, 77380, UNITED STATES. |
|
IC
/ PP No |
: |
512469001 |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
18/07/2016 |
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 |
201420249M |
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
Director |
18/07/2016 |
0.00 |
- |
USD450,511.00 |
2016 |
- |
15/01/2018 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
JULIO
ANDRES VASQUEZ VILLARREAL |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
KELVIN
WONG & CO |
|
Auditor'
Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
ANNA
MARDIANA ALISJAHBANA |
|
IC
/ PP No |
: |
S2205619J |
|
|
Address |
: |
46,
EASTWOOD ROAD, 04-06, LAGUNA 88, 486356, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
IAN
NG FOOK YUN |
|
IC
/ PP No |
: |
S2565916C |
|
|
Address |
: |
151,
CAVENAGH ROAD, 09-161, CAVENAGH COURT, 229628, 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 Subject refused to disclose its 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 |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
CHEMICALS
AND PLASTICS |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of chemicals
and plastic.
The Subject sells industrial chemicals.
The Subject refused to disclose further information on its operation.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
(65)
6221-6327 |
|
Current
Telephone Number |
: |
65-62216327 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
4
BATTERY ROAD, 25-01, BANK OF CHINA BUILDING SINGAPORE 049908. |
|
Current
Address |
: |
8,
EU TONG SEN STREET, 20-88 THE CENTRAL, 059818, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
On 16th January 2018 we contacted one of the staff from the Subject and he
provided some information.
The address provided is the Subject's registered address.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
395.50% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
1,465.03% |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
89.81% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
108.22% |
] |
|
|
The
increase in turnover could be due to the Subject adopting an aggressive
marketing strategy.The higher profit could be attributed to the increase in turnover.
Generally the Subject was profitable. The favourable return on shareholders'
funds and return on net assets indicate that the Subject's management was
efficient in utilising the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Acceptable |
[ |
63
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
57
Days |
] |
|
|
The
Subject's management was quite efficient in handling its debtors. The
Subject's debtors days were at an acceptable range, thus the risk of its
debts turning bad was minimised. 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 |
[ |
1.16
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.16
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 |
: |
Favourable |
[ |
10.55
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. 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 : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. 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. With the favourable
interest cover, the Subject could be able to service all the accrued interest
without facing any difficulties. 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 : STABLE |
||||||
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) |
|||||
|
(Source
: Department of Statistics) |
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
|
|
|
Financials
|
PROFIT
AND LOSS ACCOUNT |
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
|
Financial
Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
|
Months |
12 |
12 |
6 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
19,602,142 |
3,956,007 |
- |
|
Other
Income |
557 |
287 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
19,602,699 |
3,956,294 |
- |
|
Costs
of Goods Sold |
(18,805,290) |
(3,660,849) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
797,409 |
295,445 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
491,356 |
31,396 |
(60,750) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
491,356 |
31,396 |
(60,750) |
|
Taxation |
(40,845) |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
450,511 |
31,396 |
(60,750) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
(29,354) |
(60,750) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(29,354) |
(60,750) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
421,157 |
(29,354) |
(60,750) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
421,157 |
(29,354) |
(60,750) |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Others |
51,463 |
19,252 |
77 |
|
---------------- |
---------------- |
---------------- |
|
|
51,463 |
19,252 |
77 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
6,714 |
2,036 |
50 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
6,714 |
2,036 |
50 |
|
|
============= |
============= |
============= |
|
BALANCE
SHEET |
|
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
11,525 |
16,565 |
1,181 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
11,525 |
16,565 |
1,181 |
|
Trade
debtors |
3,409,645 |
- |
- |
|
Other
debtors, deposits & prepayments |
19,941 |
19,119 |
14,827 |
|
Amount
due from related companies |
72,206 |
- |
- |
|
Cash
& bank balances |
107,584 |
193,771 |
13,323 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
3,609,376 |
212,890 |
28,150 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
3,620,901 |
229,455 |
29,331 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
2,959,064 |
- |
- |
|
Other
creditors & accruals |
110,999 |
12,280 |
9,630 |
|
Amounts
owing to related companies |
8,385 |
166,078 |
- |
|
Provision
for taxation |
40,845 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
3,119,293 |
178,358 |
9,630 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
490,083 |
34,532 |
18,520 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
501,608 |
51,097 |
19,701 |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
80,451 |
80,451 |
80,451 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
80,451 |
80,451 |
80,451 |
|
Retained
profit/(loss) carried forward |
421,157 |
(29,354) |
(60,750) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
421,157 |
(29,354) |
(60,750) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
501,608 |
51,097 |
19,701 |
|
---------------- |
---------------- |
---------------- |
|
|
501,608 |
51,097 |
19,701 |
|
|
|
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
OXYDE
CHEMICALS SINGAPORE PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
107,584 |
193,771 |
13,323 |
|
Net
Liquid Funds |
107,584 |
193,771 |
13,323 |
|
Net
Liquid Assets |
490,083 |
34,532 |
18,520 |
|
Net
Current Assets/(Liabilities) |
490,083 |
34,532 |
18,520 |
|
Net
Tangible Assets |
501,608 |
51,097 |
19,701 |
|
Net
Monetary Assets |
490,083 |
34,532 |
18,520 |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
0 |
0 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
549,533 |
52,684 |
(60,623) |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
0 |
0 |
0 |
|
Total
Liabilities |
3,119,293 |
178,358 |
9,630 |
|
Total
Assets |
3,620,901 |
229,455 |
29,331 |
|
Net
Assets |
501,608 |
51,097 |
19,701 |
|
Net
Assets Backing |
501,608 |
51,097 |
19,701 |
|
Shareholders'
Funds |
501,608 |
51,097 |
19,701 |
|
Total
Share Capital |
80,451 |
80,451 |
80,451 |
|
Total
Reserves |
421,157 |
(29,354) |
(60,750) |
|
GROWTH
RATIOS (Year on Year) |
|||
|
Revenue |
395.50 |
- |
- |
|
Proft/(Loss)
Before Tax |
1,465.03 |
151.68 |
- |
|
Proft/(Loss)
After Tax |
1,334.93 |
151.68 |
- |
|
Total
Assets |
1,478.04 |
- |
- |
|
Total
Liabilities |
1,648.89 |
- |
- |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.03 |
1.09 |
1.38 |
|
Liquid
Ratio |
1.16 |
1.19 |
2.92 |
|
Current
Ratio |
1.16 |
1.19 |
2.92 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
0 |
0 |
0 |
|
Debtors
Ratio |
63 |
0 |
0 |
|
Creditors
Ratio |
57 |
0 |
0 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0 |
0 |
0 |
|
Liabilities
Ratio |
6.22 |
3.49 |
0.49 |
|
Times
Interest Earned Ratio |
10.55 |
2.63 |
(787.96) |
|
Assets
Backing Ratio |
6.23 |
0.64 |
0.24 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
2.51 |
0.79 |
0 |
|
Net
Profit Margin |
2.30 |
0.79 |
0 |
|
Return
On Net Assets |
108.22 |
99.12 |
(307.97) |
|
Return
On Capital Employed |
108.22 |
99.12 |
(307.97) |
|
Return
On Shareholders' Funds/Equity |
89.81 |
61.44 |
(308.36) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.76 |
|
|
1 |
INR 87.91 |
|
Euro |
1 |
INR 78.20 |
|
SGD |
1 |
INR 48.33 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
DNS |
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.