|
|
|
MIRA INFORM REPORT
|
Report No. : |
487802 |
|
Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TLV PTE LTD |
|
|
|
|
Formerly Known As : |
·
TLV
EAST ASIA PTE LTD ·
TLV
SOUTH EAST ASIA PTE LTD |
|
|
|
|
Registered Office : |
36, Kaki Bukit Place,
02-01/02, E-Hub One, 416214 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2016 |
|
|
|
|
Date of Incorporation : |
11.05.1996 |
|
|
|
|
Com. Reg. No.: |
199603361E |
|
|
|
|
Legal Form : |
Private Limited (Limited
By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in trading of steam valves and measurement
equipment. |
|
|
|
|
No. of Employees : |
18 [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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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. |
: |
199603361E |
|
COMPANY
NAME |
: |
TLV PTE
LTD |
|
FORMER
NAME |
: |
TLV
EAST ASIA PTE LTD (02/12/1999) |
|
INCORPORATION
DATE |
: |
11/05/1996 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
36,
KAKI BUKIT PLACE, 02-01/02, E-HUB ONE, 416214, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
36 KAKI
BUKIT PLACE #02-01/02 E-HUB ONE,, 416214, SINGAPORE. |
|
TEL.NO. |
: |
65-67474600 |
|
FAX.NO. |
: |
65-67420345 |
|
CONTACT
PERSON |
: |
NGAI
YUE TAN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF STEAM VALVES AND MEASUREMENT EQUIPMENT |
|
ISSUED
AND PAID UP CAPITAL |
: |
1,500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 1,500,000.00 |
|
SALES |
: |
SGD
15,378,340 [2016] |
|
NET
WORTH |
: |
SGD
10,512,585 [2016] |
|
STAFF
STRENGTH |
: |
18
[2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
FAIR |
|
PAYMENT |
: |
REGULAR |
|
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 steam valves and measurement equipment.
The
immediate holding company of the Subject is TLV INTERNATIONAL,INC., a company
incorporated in JAPAN.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
23/01/2018 |
SGD
1,500,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
TLV
INTERNATIONAL,INC. |
881,
NAGASUNA NOGUCHI-CHO KAKOGAWA HYOGO, 675 JAPAN |
T05UF0227 |
1,500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
MALAYSIA |
TLV
EMGINEERING SDN.BHD |
- |
100.00 |
30/06/2016 |
|
|
CHINA |
TLV
SHANGHAI CO., LTD |
- |
100.00 |
30/06/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
NGAI
YUE TAN |
|
Address |
: |
9, WEST
COAST WALK, 22-19, PARC THE CONDOMINIUM, 127160, SINGAPORE. |
|
IC / PP
No |
: |
S2571944A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
04/07/2001 |
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 |
199603361E |
TLV PTE
LTD |
Director |
04/07/2001 |
0.00 |
- |
SGD530,258.00 |
2016 |
- |
23/01/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
MASAO
NISHIMURA |
|
Address |
: |
12-37-315,
HIGASHI CHUJO, IBARAKI OSAKA, 567-0885, JAPAN. |
|
IC / PP
No |
: |
TL0132618 |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
07/04/2014 |
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 |
199603361E |
TLV PTE
LTD |
Director |
07/04/2014 |
0.00 |
- |
SGD530,258.00 |
2016 |
- |
23/01/2018 |
DIRECTOR 3
|
Name Of
Subject |
: |
AYAKO
FUJIWARA |
|
Address |
: |
TLV DORMITORY
,6, 189, NISHITANI HIRAOKA, KAKOGAWA HYOG, 675-0102, JAPAN. |
|
IC / PP
No |
: |
TG7588719 |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
07/04/2014 |
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 |
199603361E |
TLV PTE
LTD |
Director |
07/04/2014 |
0.00 |
- |
SGD530,258.00 |
2016 |
- |
23/01/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
NGAI
YUE TAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
RSM
CHIO LIM LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
GEA BAN
PENG |
|
IC / PP
No |
: |
S2501252F |
|
|
Address |
: |
96,
BEDOK NORTH AVENUE 4, 23-1505, 460096, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201708160 |
11/08/2017 |
N/A |
THE
BANK OF TOKYOMITSUBISHI UFJ, LTD. SINGAPORE BRANCH |
- |
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 |
: |
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 |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
STEAM
VALVES AND MEASUREMENT EQUIPMENT |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
18 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of steam
valves and measurement equipment.
The Subject provides:
• Steam traps
• Air/gas traps
• Control valves
• Pressure reducing valves
• Temperature regulators
• Steam/air separators
• Condensate recovery pumps
• Air vents
• Check valves
• Ball valves
• Sight glasses
• Strainers
• Vortex flowmeter
• Computerised steam trap management system
The Subject also provides consulting & engineering service.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-67474600 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
36,
KAKI BUKIT PLACE, 02-01/02, SINGAPORE 416 |
|
Current
Address |
: |
36 KAKI
BUKIT PLACE #02-01/02 E-HUB ONE,, 416214, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
The Subject refused to disclose its bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
8.12% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
68.93% |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
5.04% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
6.35% |
] |
|
|
The
lower turnover could be due to the unfavourable market conditions.The Subject's
profit fell sharply because of the high operating costs incurred. The
unfavourable return on shareholders' funds could indicate that the Subject
was inefficient in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
66 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
The Subject's
stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in stocks. The high debtors' ratio could indicate that
the Subject was weak in its credit control. However, the Subject could also
giving longer credit periods to its customers in order to boost its sales or
to capture / retain its market share. 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 |
[ |
3.33
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
4.00
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 |
[ |
73.62
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 : |
||||||
|
The
Subject's performance deteriorated over the years with lower 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 : 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. |
|
TLV PTE
LTD |
|
Financial
Year End |
2016-06-30 |
2015-06-30 |
|
Months |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
15,378,340 |
16,737,870 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
15,378,340 |
16,737,870 |
|
Costs
of Goods Sold |
(8,658,934) |
(9,133,009) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
6,719,406 |
7,604,861 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
658,460 |
2,119,045 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
658,460 |
2,119,045 |
|
Taxation |
(128,202) |
(416,982) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
530,258 |
1,702,063 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
8,926,129 |
10,224,066 |
|
---------------- |
---------------- |
|
|
As
restated |
8,926,129 |
10,224,066 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
9,456,387 |
11,926,129 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(3,000,000) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
9,456,387 |
8,926,129 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
Others |
9,067 |
10,225 |
|
---------------- |
---------------- |
|
|
9,067 |
10,225 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
373,585 |
369,519 |
|
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
373,585 |
369,519 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
TLV PTE
LTD |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
693,537 |
1,015,521 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
693,537 |
1,015,521 |
|
CURRENT
ASSETS |
||
|
Stocks |
2,214,707 |
2,140,952 |
|
Trade
debtors |
2,785,214 |
1,882,316 |
|
Other
debtors, deposits & prepayments |
214,933 |
233,439 |
|
Amount
due from holding company |
4,394 |
49,735 |
|
Cash
& bank balances |
7,998,848 |
10,991,456 |
|
Others |
7,490 |
32,386 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
13,225,586 |
15,330,284 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
13,919,123 |
16,345,805 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
1,006,934 |
931,161 |
|
Other
creditors & accruals |
227 |
949 |
|
Deposits
from customers |
295,516 |
52,862 |
|
Amounts
owing to holding company |
1,709,835 |
4,988,077 |
|
Amounts
owing to related companies |
- |
2,484 |
|
Provision
for taxation |
267,518 |
78,282 |
|
Lease
payables |
25,900 |
24,614 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
3,305,930 |
6,078,429 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
9,919,656 |
9,251,855 |
|
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
||
|
Lease
obligations |
48,376 |
74,276 |
|
Deferred
taxation |
52,232 |
49,598 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
100,608 |
123,874 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
10,512,585 |
10,143,502 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
1,200,000 |
1,200,000 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,200,000 |
1,200,000 |
|
RESERVES |
||
|
Exchange
equalisation/fluctuation reserve |
(143,802) |
17,373 |
|
Retained
profit/(loss) carried forward |
9,456,387 |
8,926,129 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
9,312,585 |
8,943,502 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
10,512,585 |
10,143,502 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
TLV PTE
LTD |
|
TYPES
OF FUNDS |
||
|
Cash |
7,998,848 |
10,991,456 |
|
Net
Liquid Funds |
7,998,848 |
10,991,456 |
|
Net Liquid
Assets |
7,704,949 |
7,110,903 |
|
Net
Current Assets/(Liabilities) |
9,919,656 |
9,251,855 |
|
Net
Tangible Assets |
10,512,585 |
10,143,502 |
|
Net
Monetary Assets |
7,604,341 |
6,987,029 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
- |
2,129,270 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,041,112 |
2,498,789 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
48,376 |
74,276 |
|
Total
Liabilities |
3,406,538 |
6,202,303 |
|
Total Assets |
13,919,123 |
16,345,805 |
|
Net
Assets |
10,512,585 |
10,143,502 |
|
Net
Assets Backing |
10,512,585 |
10,143,502 |
|
Shareholders'
Funds |
10,512,585 |
10,143,502 |
|
Total
Share Capital |
1,200,000 |
1,200,000 |
|
Total
Reserves |
9,312,585 |
8,943,502 |
|
GROWTH
RATIOS (Year on Year) (%) |
||
|
Revenue |
(8.12) |
(6.82) |
|
Proft/(Loss)
Before Tax |
(68.93) |
(22.42) |
|
Proft/(Loss)
After Tax |
(68.85) |
(22.86) |
|
Total
Assets |
2.04 |
16.30 |
|
Total
Liabilities |
(41.55) |
37.85 |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
2.42 |
1.81 |
|
Liquid
Ratio |
3.33 |
2.17 |
|
Current
Ratio |
4.00 |
2.52 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
53 |
47 |
|
Debtors
Ratio |
66 |
41 |
|
Creditors
Ratio |
42 |
37 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0 |
0.01 |
|
Liabilities
Ratio |
0.32 |
0.61 |
|
Times
Interest Earned Ratio |
73.62 |
208.24 |
|
Assets
Backing Ratio |
8.76 |
8.45 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
4.28 |
12.66 |
|
Net Profit
Margin |
3.45 |
10.17 |
|
Return
On Net Assets |
6.35 |
20.99 |
|
Return
On Capital Employed |
6.29 |
20.74 |
|
Return
On Shareholders' Funds/Equity |
5.04 |
16.78 |
|
Dividend
Pay Out Ratio (Times) |
- |
1.76 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.77 |
|
|
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.22 |
|
SGD |
1 |
INR 48.56 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.