|
|
|
MIRA INFORM REPORT
|
Report No. : |
486687 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ROBUST
INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
1, Maritime Square, 12-03, Harbourfront
Centre, 099253 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
09.02.2006 |
|
|
|
|
Com. Reg. No.: |
200601737M |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of cashew nuts, sesame seeds, rice, maize and gum Arabic, sawn
timber, logs, agro commodities. |
|
|
|
|
No. of Employees : |
15 [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 : |
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. |
: |
200601737M |
||||
|
COMPANY NAME |
: |
ROBUST INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
09/02/2006 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, MARITIME SQUARE, 12-03, HARBOURFRONT
CENTRE, 099253, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1, MARITIME SQUARE, 12-03, HARBOURFRONT
CENTRE,, 099253, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62927316 |
||||
|
FAX.NO. |
: |
65-62927910 |
||||
|
EMAIL |
: |
INFO@ROBUST-INTERNATIONAL.COM |
||||
|
WEB SITE |
: |
WWW.ROBUST-INTERNATIONAL.COM |
||||
|
CONTACT PERSON |
: |
NAARAYAN RAAGHAVAN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CASHEW NUTS, SESAME SEEDS, RICE,
MAIZE AND GUM ARABIC,SAWN TIMBER, LOGS, AGRO COMMODITIES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
16,796,820.00 ORDINARY SHARE, OF A VALUE OF
SGD 16,796,820.00 |
||||
|
SALES |
: |
USD 264,221,166 [2016] |
||||
|
NET WORTH |
: |
USD 25,070,634 [2016] |
||||
|
STAFF STRENGTH |
: |
15 [2018] |
||||
|
||||||
|
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 an exempt private company whose
shares are not held by any corporate body and has no more than 20 shareholders
who are all natural persons. An exempt company is a type of private limited
company. 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, suing or be sued by other companies.
An exempt private company with an annual
turnover of ≤ SGD10 million, or total assets ≤ SGD10 million or
number of employees ≤ 50 (meet at least 2 criteria for immediate past two
financial years) are exempted from statutory auditing requirements. The Subject
is not required to have their accounts audited. However, the Subject will
prepare unaudited accounts for purposes of AGMs and filing with Registry Office
if it is unable to meet all its obligations as and when they fall due.
An exempt private company with an annual
turnover of more than SGD10 million, or total assets more than SGD10 million or
number of employees more than 50 (meet at least 2 criteria for immediate past
two financial years) are required to file the audited financial.
The subject is principally engaged in the (as
a / as an) trading of cashew nuts, sesame seeds, rice, maize and gum Arabic,
sawn timber, logs, agro commodities.
Former Address(es)
|
Address |
As At Date |
|
33, UBI AVENUE 3, VERTEX TOWER B, 04-19,
408868 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
17/01/2018 |
SGD 16,796,820.00 |
The major shareholder(s) of the Subject are shown
as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NAARAYAN RAAGHAVAN + |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
S2700107F |
16,746,067.00 |
99.70 |
|
ANURADHA NAARAYAN + |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
S6983350J |
50,752.00 |
0.30 |
|
VISHANTH NARAYAN + |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
F5649314W |
1.00 |
0.00 |
|
--------------- |
------ |
|||
|
16,796,820.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
VISHANTH NARAYAN |
|
Address |
: |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
|
IC / PP No |
: |
F5649314W |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
17/05/2017 |
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 |
200601737M |
ROBUST INTERNATIONAL PTE. LTD. |
Director |
17/05/2017 |
1.00 |
0.00001 |
USD6,331,918.00 |
2016 |
- |
17/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
ANURADHA NAARAYAN |
|
Address |
: |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
|
Other Address(es) |
: |
2, LORONG BUNGA, SENNETT ESTATE, 348701,
SINGAPORE. |
|
IC / PP No |
: |
S6983350J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/08/2010 |
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 |
200601737M |
ROBUST INTERNATIONAL PTE. LTD. |
Director |
16/08/2010 |
50,752.00 |
0.30 |
USD6,331,918.00 |
2016 |
- |
17/01/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
NAARAYAN RAAGHAVAN |
|
Address |
: |
747, UPPER CHANGI ROAD EAST, EAST VIEW
GARDEN, 486869, SINGAPORE. |
|
Other Address(es) |
: |
NO.25B PULAU LI HUA,LANE 3, SIBU, SARAWAK,
96000 SIBU, SARAWAK, MALAYSIA. |
|
IC / PP No |
: |
S2700107F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/08/2010 |
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 |
200601737M |
ROBUST INTERNATIONAL PTE. LTD. |
Director |
16/08/2010 |
16,746,067.00 |
99.70 |
USD6,331,918.00 |
2016 |
- |
17/01/2018 |
|
2 |
660739K |
VIRGIN TIMBERS SDN. BHD. |
Shareholder |
- |
155,000.00 |
31.00 |
- |
- |
In the process of striking off |
26/12/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
NAARAYAN RAAGHAVAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
D. ARUMUGAM & CO |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
PRIYALATHA NAIDU |
|
IC / PP No |
: |
S1087104B |
|
|
Address |
: |
1, SPRINGLEAF RISE, SPRINGLEAF GARDEN,
787981, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
INDIAN BANK |
|
2) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
3) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
4) |
Name |
: |
CITIBANK N.A. |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201113082 |
18/10/2011 |
N/A |
INDIAN BANK |
- |
Unsatisfied |
|
C201303793 |
12/03/2013 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201310077 |
23/07/2013 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201315775 |
25/11/2013 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201315776 |
25/11/2013 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201411461 |
20/10/2014 |
N/A |
RHB BANK BERHAD |
- |
Unsatisfied |
|
C201502494 |
23/02/2015 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201503976 |
30/03/2015 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201503978 |
30/03/2015 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201508967 |
11/08/2015 |
N/A |
STATE BANK OF INDIA |
- |
Unsatisfied |
|
C201604659 |
06/05/2016 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201604668 |
06/05/2016 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201605812 |
09/06/2016 |
N/A |
RESPONSABILITY FAIR AGRICULTURE FUND |
- |
Unsatisfied |
|
C201612931 |
23/12/2016 |
N/A |
BANK AL HABIB LIMITED |
- |
Unsatisfied |
|
C201612934 |
23/12/2016 |
N/A |
BANK AL HABIB LIMITED |
- |
Unsatisfied |
|
C201612936 |
23/12/2016 |
N/A |
BANK AL HABIB LIMITED |
- |
Unsatisfied |
|
C201701259 |
06/02/2017 |
N/A |
LH ASIAN TFF PTE. LTD. |
- |
Unsatisfied |
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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CASHEW NUTS, SESAME SEEDS, RICE, MAIZE AND
GUM ARABIC,SAWN TIMBER, LOGS, AGRO COMMODITIES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2015 |
2014 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
15 |
12 |
9 |
9 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of cashew
nuts, sesame seeds, rice, maize and gum arabic,sawn timber, logs, agro
commodities.
Robust International Group is a closely managed multinational group operated by
seasoned professionals who have years of extensive experience in international
trading and management.
The Subject has gradually and steadily expanded into the Agribusiness industry
from other countries over the years.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6562927316 |
|
Current Telephone Number |
: |
65-62927316 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
33 UBI AVENUE 3 #04-19 VERTEX, 408868 |
|
Current Address |
: |
1, MARITIME SQUARE, 12-03, HARBOURFRONT
CENTRE,, 099253, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted the staff from the Subject and she provided some information.
The Subject had shifted from the address provided.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
25.26% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
38.41% |
] |
|
|
The Subject's turnover increased steadily as
the demand for its products / services increased due to the goodwill built up
over the years.The higher profit could be attributed to the increase in
turnover. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
38 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 |
[ |
1.65 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.65 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 |
: |
Acceptable |
[ |
3.84 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.51 Times |
] |
|
|
The Subject's interest cover was slightly low.
If there is no sharp fall in its profit or sudden increase in the interest
rates, we believe the Subject is able to generate sufficient income to
service its interest and repay the loans. The Subject was highly geared, thus
it had a high financial risk. The Subject was dependent on loans to finance
its business needs. In times of economic downturn and / or high interest
rate, the Subject will become less profitable and competitive than other
firms in the same industry, which are lowly geared. This is because the
Subject has to service the interest and to repay the loan, which will erode
part of its profits. The profits will fluctuate depending on the Subject's
turnover and the interest it needs to pay. |
||||||
|
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. The Subject had an acceptable interest cover. If
there is no sudden sharp increase in interest rate or fall in the Subject's
profit, we do believe the Subject is able to generate sufficient cash flow to
service its interest payment. The Subject's gearing level was high and its
going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates. |
||||||
|
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) |
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. |
|
ROBUST INTERNATIONAL PTE. LTD. |
Note : The Subject is an Exempt Private
Company and it is not required by law to file its financials for public view.
The below financials are the last financial that submitted by the Subject to
the Registrar before changed to Exempt Private Company.
|
Financial Year End |
2016-12-31 |
2015-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
264,221,166 |
162,455,946 |
|
Other Income |
116,224 |
176,739 |
|
---------------- |
---------------- |
|
|
Total Turnover |
264,337,390 |
162,632,685 |
|
Costs of Goods Sold |
(250,976,936) |
(154,225,511) |
|
---------------- |
---------------- |
|
|
Gross Profit |
13,360,454 |
8,407,174 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
7,601,672 |
4,010,481 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
7,601,672 |
4,010,481 |
|
Taxation |
(1,269,754) |
(655,760) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
6,331,918 |
3,354,721 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
6,738,716 |
3,383,995 |
|
---------------- |
---------------- |
|
|
As restated |
6,738,716 |
3,383,995 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
13,070,634 |
6,738,716 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
13,070,634 |
6,738,716 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
2,678,690 |
1,873,622 |
|
---------------- |
---------------- |
|
|
2,678,690 |
1,873,622 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
83,337 |
77,098 |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
83,337 |
77,098 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
ROBUST INTERNATIONAL PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
1,384,140 |
1,443,127 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,384,140 |
1,443,127 |
|
Trade debtors |
27,754,091 |
27,408,198 |
|
Other debtors, deposits & prepayments |
18,469,411 |
14,248,831 |
|
Short term deposits |
8,236,086 |
7,086,397 |
|
Cash & bank balances |
6,733,242 |
1,316,693 |
|
Others |
2,972,525 |
4,609,338 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
64,165,355 |
54,669,457 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
65,549,495 |
56,112,584 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
193,521 |
223,523 |
|
Other creditors & accruals |
387,586 |
669,488 |
|
Hire purchase & lease creditors |
- |
457 |
|
Short term borrowings/Term loans |
44,605 |
47,574 |
|
Other borrowings |
36,860,297 |
34,500,178 |
|
Deposits from customers |
30,948 |
23,503 |
|
Provision for taxation |
1,269,828 |
634,348 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
38,786,785 |
36,099,071 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
25,378,570 |
18,570,386 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
26,762,710 |
20,013,513 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
12,000,000 |
12,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
12,000,000 |
12,000,000 |
|
Retained profit/(loss) carried forward |
13,070,634 |
6,738,716 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
13,070,634 |
6,738,716 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
25,070,634 |
18,738,716 |
|
Long term loans |
877,728 |
941,536 |
|
Others |
814,348 |
333,261 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,692,076 |
1,274,797 |
|
---------------- |
---------------- |
|
|
26,762,710 |
20,013,513 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
ROBUST INTERNATIONAL PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
14,969,328 |
8,403,090 |
|
Net Liquid Funds |
14,969,328 |
8,403,090 |
|
Net Liquid Assets |
25,378,570 |
18,570,386 |
|
Net Current Assets/(Liabilities) |
25,378,570 |
18,570,386 |
|
Net Tangible Assets |
26,762,710 |
20,013,513 |
|
Net Monetary Assets |
23,686,494 |
17,295,589 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
10,280,362 |
5,884,103 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
10,363,699 |
5,961,201 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
37,782,630 |
35,489,745 |
|
Total Liabilities |
40,478,861 |
37,373,868 |
|
Total Assets |
65,549,495 |
56,112,584 |
|
Net Assets |
26,762,710 |
20,013,513 |
|
Net Assets Backing |
25,070,634 |
18,738,716 |
|
Shareholders' Funds |
25,070,634 |
18,738,716 |
|
Total Share Capital |
12,000,000 |
12,000,000 |
|
Total Reserves |
13,070,634 |
6,738,716 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
62.64 |
298.24 |
|
Proft/(Loss) Before Tax |
89.55 |
323.19 |
|
Proft/(Loss) After Tax |
88.75 |
292.99 |
|
Total Assets |
16.82 |
384.40 |
|
Total Liabilities |
8.31 |
465.91 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.39 |
0.23 |
|
Liquid Ratio |
1.65 |
1.51 |
|
Current Ratio |
1.65 |
1.51 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
38 |
62 |
|
Creditors Ratio |
0 |
1 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
1.51 |
1.89 |
|
Liabilities Ratio |
1.61 |
1.99 |
|
Times Interest Earned Ratio |
3.84 |
3.14 |
|
Assets Backing Ratio |
2.23 |
1.67 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
2.88 |
2.47 |
|
Net Profit Margin |
2.40 |
2.07 |
|
Return On Net Assets |
38.41 |
29.40 |
|
Return On Capital Employed |
38.41 |
29.40 |
|
Return On Shareholders' Funds/Equity |
25.26 |
17.90 |
|
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 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
|
SGD |
1 |
INR 48.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.