|
|
|
MIRA INFORM REPORT
|
Report No. : |
486905 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAMIKA GLOBAL
PTE. LTD. |
|
|
|
|
Registered Office : |
17, Phillip Street, 05-01, Grand Building,
048695 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
31.07.2014 |
|
|
|
|
Com. Reg. No.: |
201422367D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
general wholesale trade. |
|
|
|
|
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 2014-17 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. |
: |
201422367D |
||||
|
COMPANY NAME |
: |
SAMIKA GLOBAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
31/07/2014 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
17, PHILLIP STREET, 05-01, GRAND BUILDING,
048695, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
17, PHILIP STREET, 05-01, GRAND BUILDING, 048695,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65333377 |
||||
|
FAX.NO. |
: |
65-65331144 |
||||
|
CONTACT PERSON |
: |
NATHAN GOPAKUMAR ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
GENERAL WHOLESALE TRADE |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
3,000,001.00 ORDINARY SHARE, OF A VALUE OF
USD 3,000,001.00 |
||||
|
SALES |
: |
USD 37,028,698 [2017] |
||||
|
NET WORTH |
: |
USD 3,365,441 [2017] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
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 wholesale trade.
The immediate and ultimate holding company of
the Subject is SHUBHALAKSHMI POLYESTERS LIMITED, a company incorporated in
INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
19/01/2018 |
USD 3,000,001.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHUBHALAKSHMI POLYESTERS LIMITED |
6TH FLOOR, DELUXE HOUSE B/50, OFF NEW LINK
ROAD, ANDHERI (WEST), MUMBAI, MAHARASHTRA 400053 ,INDIA |
T14UF3080 |
3,000,001.00 |
100.00 |
|
--------------- |
------ |
|||
|
3,000,001.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
NATHAN GOPAKUMAR |
|
Address |
: |
54, GEYLANG BAHRU, 02-3597, GEYLANG BAHRU
RIVERPOINT, 330054, SINGAPORE. |
|
IC / PP No |
: |
S2021906H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/07/2014 |
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 |
199504169R |
PHOENIX PTE. LTD. |
Director |
20/07/2017 |
0.00 |
- |
USD318,366.00 |
2016 |
- |
27/10/2017 |
|
2 |
201422367D |
SAMIKA GLOBAL PTE. LTD. |
Director |
31/07/2014 |
0.00 |
- |
USD184,971.00 |
2017 |
- |
19/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MANOJ RAMURAMAN AGARWAL |
|
Address |
: |
41-41A, ROYAL ACCORD IV, OPPOSITE LOKHANDWALA
MARKET ANDHERI (W), MUMBAI, MAHARASHTRA, 400053, INDIA. |
|
IC / PP No |
: |
J1728838 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
31/07/2014 |
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 |
201422367D |
SAMIKA GLOBAL PTE. LTD. |
Director |
31/07/2014 |
0.00 |
- |
USD184,971.00 |
2017 |
- |
19/01/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
NATHAN GOPAKUMAR |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRUDENTIAL PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
KALIYAPERUMAL S/O K JAYARAM |
|
IC / PP No |
: |
S1230952Z |
|
|
Address |
: |
2, DELTA AVENUE, 20-44, DELTA AVENUE
ESTATE, 161002, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BANK OF BARODA |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201510559 |
16/09/2015 |
N/A |
BANK OF BARODA |
- |
Unsatisfied |
|
C201510561 |
16/09/2015 |
N/A |
BANK OF BARODA |
- |
Unsatisfied |
|
C201601003 |
21/01/2016 |
N/A |
BANK OF BARODA |
- |
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.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
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 |
|||
|
Credit Term |
: |
N/A |
|||
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Goods Traded |
: |
GENERAL WHOLESALE TRADE |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) general wholesale
trade.
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 |
: |
65-65333377 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
17, PHILIP STREET, 05-01, GRAND BUILDING,
048695, SINGAPORE. |
|
Match |
: |
N/A |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose further on the Subject's business activity.
She refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2015 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2015 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
5.50% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.28% |
] |
|
|
The Subject's turnover increased steadily as
the demand for its products / services increased due to the goodwill built up
over the years.The Subject's management have been efficient in controlling
its operating costs. The unfavourable return on shareholders' funds could
indicate that the Subject was inefficient in utilising its assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
The favourable debtors' days could be due
to the good credit control measures implemented by the Subject. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.34 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.34 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 |
[ |
2.87 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.62 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 was lowly geared thus it had a low
financial risk. The Subject was mainly financed by its shareholders' funds
and internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies 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. 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 as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject
: LIMITED |
||||||
|
|
||||||
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. |
|
SAMIKA GLOBAL PTE. LTD. |
|
Financial Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
|
Months |
12 |
12 |
8 |
|
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 |
37,028,698 |
17,105,799 |
148,658 |
|
Other Income |
42,124 |
24,608 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
37,070,822 |
17,130,407 |
148,658 |
|
Costs of Goods Sold |
(36,468,418) |
(16,772,695) |
(146,080) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
602,404 |
357,712 |
2,578 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
203,423 |
191,182 |
(2,713) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
203,423 |
191,182 |
(2,713) |
|
Taxation |
(18,452) |
(8,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
184,971 |
183,182 |
(2,713) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
180,469 |
(2,713) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
180,469 |
(2,713) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
365,440 |
180,469 |
(2,713) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
365,440 |
180,469 |
(2,713) |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
108,934 |
21,738 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
108,934 |
21,738 |
- |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
BALANCE SHEET
|
|
SAMIKA GLOBAL PTE. LTD. |
|
---------------- |
---------------- |
---------------- |
|
|
CURRENT ASSETS |
|||
|
Trade debtors |
1,054,176 |
1,676,421 |
86,151 |
|
Other debtors, deposits & prepayments |
2,418 |
700,214 |
2,418 |
|
Short term deposits |
3,053,025 |
3,015,562 |
- |
|
Amount due from holding company |
8,946,289 |
6,319,291 |
- |
|
Cash & bank balances |
187,006 |
34,383 |
31,230 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
13,242,914 |
11,745,871 |
119,799 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
13,242,914 |
11,745,871 |
119,799 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
7,067,955 |
6,130,552 |
108,092 |
|
Other creditors & accruals |
74,289 |
29,923 |
2,545 |
|
Other borrowings |
2,086,639 |
2,226,718 |
- |
|
Deposits from customers |
129,675 |
11,574 |
9,875 |
|
Amounts owing to holding company |
500,915 |
158,634 |
1,999 |
|
Provision for taxation |
18,000 |
8,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
9,877,473 |
8,565,401 |
122,511 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,365,441 |
3,180,470 |
(2,712) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,365,441 |
3,180,470 |
(2,712) |
|
============= |
============= |
============= |
|
|
FINANCED BY: |
|||
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
3,000,001 |
3,000,001 |
1 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,000,001 |
3,000,001 |
1 |
|
RESERVES |
|||
|
Retained profit/(loss) carried forward |
365,440 |
180,469 |
(2,713) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
365,440 |
180,469 |
(2,713) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,365,441 |
3,180,470 |
(2,712) |
|
---------------- |
---------------- |
---------------- |
|
|
3,365,441 |
3,180,470 |
(2,712) |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL RATIO
|
|
SAMIKA GLOBAL PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
3,240,031 |
3,049,945 |
31,230 |
|
Net Liquid Funds |
3,240,031 |
3,049,945 |
31,230 |
|
Net Liquid Assets |
3,365,441 |
3,180,470 |
(2,712) |
|
Net Current Assets/(Liabilities) |
3,365,441 |
3,180,470 |
(2,712) |
|
Net Tangible Assets |
3,365,441 |
3,180,470 |
(2,712) |
|
Net Monetary Assets |
3,365,441 |
3,180,470 |
(2,712) |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
0 |
212,920 |
(2,713) |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
312,357 |
212,920 |
(2,713) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
2,086,639 |
2,226,718 |
0 |
|
Total Liabilities |
9,877,473 |
8,565,401 |
122,511 |
|
Total Assets |
13,242,914 |
11,745,871 |
119,799 |
|
Net Assets |
3,365,441 |
3,180,470 |
(2,712) |
|
Net Assets Backing |
3,365,441 |
3,180,470 |
(2,712) |
|
Shareholders' Funds |
3,365,441 |
3,180,470 |
(2,712) |
|
Total Share Capital |
3,000,001 |
3,000,001 |
1 |
|
Total Reserves |
365,440 |
180,469 |
(2,713) |
|
GROWTH RATIOS (Year on Year) (%) |
|||
|
Revenue |
116.47 |
11,406.81 |
- |
|
Proft/(Loss) Before Tax |
6.40 |
7,146.89 |
- |
|
Proft/(Loss) After Tax |
0.98 |
6,852.01 |
- |
|
Total Assets |
6.09 |
9,704.65 |
- |
|
Total Liabilities |
6.49 |
6,891.54 |
- |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.33 |
0.36 |
0.25 |
|
Liquid Ratio |
1.34 |
1.37 |
0.98 |
|
Current Ratio |
1.34 |
1.37 |
0.98 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
0 |
|
Debtors Ratio |
10 |
36 |
212 |
|
Creditors Ratio |
71 |
133 |
270 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.62 |
0.70 |
0 |
|
Liabilities Ratio |
2.93 |
2.69 |
(45.17) |
|
Times Interest Earned Ratio |
2.87 |
9.79 |
0 |
|
Assets Backing Ratio |
1.12 |
1.06 |
(2,712.00) |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.55 |
1.12 |
(1.82) |
|
Net Profit Margin |
0.50 |
1.07 |
(1.82) |
|
Return On Net Assets |
9.28 |
6.69 |
100.04 |
|
Return On Capital Employed |
9.28 |
6.69 |
100.04 |
|
Return On Shareholders' Funds/Equity |
5.50 |
5.76 |
100.04 |
|
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 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
|
SGD |
1 |
INR 48.36 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
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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.