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MIRA INFORM REPORT
|
Report No. : |
489281 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
101, Cecil Street, 11- 01, Tong Eng Building, 069533 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation : |
21.05.2008 |
|
|
|
|
Com. Reg. No.: |
200809977-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in trading of metal, steel, commodity
products, business and management consultancy services. |
|
|
|
|
No. of Employees : |
5 |
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. |
: |
200809977-K |
||||
|
COMPANY NAME |
: |
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/05/2008 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
101, CECIL STREET, 11- 01, TONG ENG BUILDING, 069533, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
101, CECIL STREET, 11-01, TONG ENG BUILDING, 069533, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62232216 |
||||
|
FAX.NO. |
: |
65-62239921 |
||||
|
CONTACT PERSON |
: |
SENTHILNATHAN VISWANATHAN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF METAL, STEEL, COMMODITY PRODUCTS, BUSINESS AND
MANAGEMENT CONSULTANCY SERVICES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
10,000,020.00 ORDINARY SHARE, OF A VALUE OF SGD 10,000,020.00 |
||||
|
SALES |
: |
USD 167,420,139 [2016] |
||||
|
NET WORTH |
: |
USD 16,946,718 [2016] |
||||
|
STAFF STRENGTH |
: |
5 [2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
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 metal, steel, commodity products, business and management consultancy
services.
The immediate holding company of the Subject is KOTHARI PRODUCTS
LIMITED, a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
05/10/2017 |
SGD 10,000,020.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SOMESH GANERIWAL + |
5, SIMEI STREET 3, 10-03, EASTPOINT GREEN, 529892, SINGAPORE. |
S2769756I |
20.00 |
0.00 |
|
KOTHARI PRODUCTS LIMITED |
24/19, PAN PARAG HOUSE, THE MALL, KANPURE-208001 INDIA |
T08UF2112 |
10,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
10,000,020.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
201132797G |
SINGAPORE |
PINEHILLS (SINGAPORE) PTE. LTD. |
- |
100.00 |
05/10/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SENTHILNATHAN VISWANATHAN |
|
Address |
: |
101, CECIL STREET, 20-11, TONG ENG BUILDING, 069533, SINGAPORE. |
|
IC / PP No |
: |
S2687325H |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
16/08/2011 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
201333893C |
ANANT COMMODITIES PTE. LTD. |
Secretary |
17/12/2013 |
0.00 |
- |
- |
- |
04/02/2016 |
|
2 |
201219396Z |
BLUEPOINT OFFSHORE SERVICES PTE. LTD. |
Secretary |
06/08/2012 |
0.00 |
- |
- |
- |
27/06/2016 |
|
3 |
200704863N |
CHOICE ONE MANUFACTURING PTE. LTD. |
Secretary |
24/03/2007 |
0.00 |
- |
- |
- |
03/06/2014 |
|
4 |
201626800R |
CNC TECH SERVICES & TRADING PTE. LTD. |
Secretary |
30/09/2016 |
0.00 |
- |
- |
- |
16/03/2017 |
|
5 |
200822113R |
DORIS CONTAINER LINES PTE. LTD. |
Secretary |
01/04/2009 |
0.00 |
- |
- |
- |
06/04/2015 |
|
6 |
200410750R |
FORMULA 1 FURNICHE PTE. LTD. |
Secretary |
01/06/2009 |
0.00 |
SGD(277,185.00) |
2013 |
- |
25/03/2015 |
|
7 |
201104986K |
GLOBAL IT DISTRIBUTION PTE. LTD. |
Secretary |
01/11/2012 |
0.00 |
- |
- |
- |
16/03/2016 |
|
8 |
200809977K |
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
Director |
16/08/2011 |
0.00 |
USD1,549,567.00 |
2016 |
- |
05/10/2017 |
|
9 |
201012193R |
PETRO GULF RESOURCES PTE. LTD. |
Secretary |
08/06/2010 |
0.00 |
- |
- |
- |
18/02/2014 |
|
10 |
201424879D |
ROSETTA PRODUCTS PTE. LTD. |
Secretary Director |
25/08/2014 25/08/2014 |
0.00 |
- |
- |
- |
13/12/2016 |
|
11 |
201303374Z |
SAI GLOBAL TRADING PTE. LTD. |
Secretary |
01/02/2013 |
0.00 |
- |
- |
- |
06/12/2016 |
|
12 |
200720533D |
SHIV-VANI SINGAPORE PTE. LIMITED |
Secretary |
10/04/2010 |
0.00 |
- |
- |
- |
01/04/2014 |
|
13 |
201119454W |
WESTERN THOMSON GROUP PTE. LTD. |
Secretary Director |
16/08/2011 16/08/2011 |
0.00 |
- |
- |
- |
21/07/2015 |
|
14 |
201229342K |
ZENITH EXIM PTE. LTD. |
Secretary |
30/11/2012 |
0.00 |
- |
- |
- |
03/09/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
DEEPAK MANSUKHLAL KOTHARI |
|
Address |
: |
SUKH DHAM 7/25, TILAK NAGAR, KANPUR NAGAR, PIN 208002, UTTAR
PRADESH, INDIA. |
|
IC / PP No |
: |
Z2450874 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
21/05/2008 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
200809977K |
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
Director |
21/05/2008 |
0.00 |
USD1,549,567.00 |
2016 |
- |
05/10/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
SOMESH GANERIWAL |
|
Address |
: |
5, SIMEI STREET 3, 10-03, EASTPOINT GREEN, 529892, SINGAPORE. |
|
IC / PP No |
: |
S2769756I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
23/09/2010 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
200809977K |
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
Secretary Director |
16/08/2011 23/09/2010 |
20.00 |
USD1,549,567.00 |
2016 |
- |
05/10/2017 |
MANAGEMENT
|
1) |
Name of Subject |
: |
SENTHILNATHAN VISWANATHAN |
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
T RAVI & CO. |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
1) |
Company Secretary |
: |
SOMESH GANERIWAL |
|
IC / PP No |
: |
S2769756I |
|
|
Address |
: |
5, SIMEI STREET 3, 10-03, EASTPOINT GREEN, 529892, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BANK OF INDIA |
|
2) |
Name |
: |
CITIBANK N.A. |
|
3) |
Name |
: |
DBS BANK LTD |
|
4) |
Name |
: |
HABIB BANK LIMITED |
|
5) |
Name |
: |
INDIAN BANK |
|
6) |
Name |
: |
INDIAN OVERSEAS BANK |
|
7) |
Name |
: |
CITIBANK BHD |
|
8) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
9) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
ENCUMBRANCE
(S)
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200807142 |
01/08/2008 |
N/A |
BANK OF INDIA |
- |
Unsatisfied |
|
C201110638 |
25/08/2011 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
|
C201110639 |
25/08/2011 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
|
C201204804 |
03/05/2012 |
N/A |
INDIAN BANK |
- |
Unsatisfied |
|
C201205380 |
17/05/2012 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201205384 |
17/05/2012 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201206097 |
05/06/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201206098 |
05/06/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201208148 |
20/07/2012 |
N/A |
HABIB BANK LIMITED |
- |
Unsatisfied |
|
C201208154 |
20/07/2012 |
N/A |
HABIB BANK LIMITED |
- |
Unsatisfied |
|
C201209625 |
24/08/2012 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201209627 |
24/08/2012 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201606153 |
21/06/2016 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201606155 |
21/06/2016 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
LITIGATION
CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank againt 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 |
|
Import Countries |
: |
AFRICA,THAILAND,AUSTRALIA,INDONESIA,CHINA,INDIA |
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 |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
METAL, STEEL, COMMODITY PRODUCTS |
|
|
Services |
: |
BUSINESS AND MANAGEMENT CONSULTANCY SERVICES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2012 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
5 |
4 |
6 |
3 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of metal,
steel, commodity products, business and management consultancy services.
The Subject sells commodity products such as steel, metal, scraps and others.
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 |
: |
6562232216 |
|
Current Telephone Number |
: |
65-62232216 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
101 CECIL STREET,1101 TONG ENG BLDG SINGAPORE 069533 |
|
Current Address |
: |
101, CECIL STREET, 11-01, TONG ENG BUILDING, 069533, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted the staff from the Subject and he provided some information.
The address provided is as per stated in the report.
FINANCIAL
ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
9.14% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.34% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
dip in profit could be due to the stiff market competition which reduced the
Subject's profit margin. 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 |
: |
Unfavourable |
[ |
92 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
The Subject's debtors ratio was high. The Subject should tighten
its credit control and improve its collection period. 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 |
[ |
1.51 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.51 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 |
[ |
2.56 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.71 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 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 : |
||||||
|
Although the Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the
Subject's profit margin. 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'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 : 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 |
- |
- |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
* 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
|
Incorporated in 2008, the
Subject is a Private Limited company, focusing on trading of metal, steel,
commodity products, business and management consultancy services. Having been
in business for more than 5 years, the Subject has established a remarkable clientele
base for itself which has contributed to its business growth. With a large
issued and paid up capital of SGD 10,000,020 and strong backing from its
holding company, the Subject enjoys timely financial assistance should the
needs arise. These favourable conditions has minimised its risk in the
industry compared to other players.
|
PROFIT
AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
|
Financial Year End |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
USD |
USD |
SGD |
|
TURNOVER |
167,420,139 |
150,194,360 |
108,886,002 |
105,116,076 |
88,026,032 |
|
Other Income |
87,071 |
74,760 |
60,070 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
167,507,210 |
150,269,120 |
108,946,072 |
105,116,076 |
88,026,032 |
|
Costs of Goods Sold |
(163,964,112) |
(146,828,389) |
(106,092,450) |
(99,814,750) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,543,098 |
3,440,731 |
2,853,622 |
5,301,326 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,788,798 |
1,802,794 |
1,383,473 |
3,711,692 |
1,427,367 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,788,798 |
1,802,794 |
1,383,473 |
3,711,692 |
1,427,367 |
|
Taxation |
(239,231) |
(309,621) |
(88,514) |
(537,528) |
(292,324) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,549,567 |
1,493,173 |
1,294,959 |
3,174,164 |
1,135,044 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
7,880,783 |
6,387,610 |
5,092,651 |
1,918,487 |
1,138,609 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
7,880,783 |
6,387,610 |
5,092,651 |
1,918,487 |
1,138,609 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
9,430,350 |
7,880,783 |
6,387,610 |
5,092,651 |
2,273,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,430,350 |
7,880,783 |
6,387,610 |
5,092,651 |
2,273,653 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
1,149,185 |
1,024,206 |
780,840 |
844,870 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,149,185 |
1,024,206 |
780,840 |
844,870 |
- |
|
|
============= |
============= |
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
17,826 |
18,668 |
16,882 |
8,863 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
17,826 |
18,668 |
16,882 |
8,863 |
- |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
30,174 |
36,827 |
52,066 |
11,031 |
23,176,083 |
|
Investment properties |
173,475 |
170,274 |
186,269 |
92,014 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
173,475 |
170,274 |
186,269 |
92,014 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
203,649 |
207,101 |
238,335 |
103,045 |
23,176,083 |
|
Trade debtors |
42,061,161 |
37,642,839 |
42,240,461 |
31,718,212 |
- |
|
Other debtors, deposits & prepayments |
48,105 |
87,095 |
180,065 |
673,295 |
- |
|
Short term deposits |
6,758,581 |
6,096,946 |
5,826,591 |
5,355,330 |
- |
|
Cash & bank balances |
987,902 |
338,572 |
402,070 |
130,169 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
49,855,749 |
44,165,452 |
48,649,187 |
37,877,006 |
36,646,983 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
50,059,398 |
44,372,553 |
48,887,522 |
37,980,051 |
59,823,066 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,662,939 |
3,064,742 |
12,660,215 |
8,981,028 |
- |
|
Other creditors & accruals |
187,369 |
254,476 |
105,464 |
40,495 |
- |
|
Other borrowings |
17,831,490 |
17,703,986 |
13,177,812 |
8,339,858 |
- |
|
Bill & acceptances payable |
11,164,680 |
7,684,556 |
8,834,598 |
7,428,645 |
- |
|
Provision for taxation |
266,202 |
270,892 |
191,567 |
571,767 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
33,112,680 |
28,978,652 |
34,969,656 |
25,361,793 |
47,549,393 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
16,743,069 |
15,186,800 |
13,679,531 |
12,515,213 |
(10,902,410) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,614,662 |
7,614,662 |
7,614,662 |
7,614,662 |
10,000,020 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,614,662 |
7,614,662 |
7,614,662 |
7,614,662 |
10,000,020 |
|
Exchange equalisation/fluctuation reserve |
(98,294) |
(101,544) |
(84,406) |
(89,055) |
- |
|
Retained profit/(loss) carried forward |
9,430,350 |
7,880,783 |
6,387,610 |
5,092,651 |
2,273,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,332,056 |
7,779,239 |
6,303,204 |
5,003,596 |
2,273,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
KOTHARI PRODUCTS SINGAPORE PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||||
|
Cash |
7,746,483 |
6,435,518 |
6,228,661 |
5,485,499 |
- |
|
Net Liquid Funds |
(3,418,197) |
(1,249,038) |
(2,605,937) |
(1,943,146) |
- |
|
Net Liquid Assets |
16,743,069 |
15,186,800 |
13,679,531 |
12,515,213 |
(10,902,410) |
|
Net Current Assets/(Liabilities) |
16,743,069 |
15,186,800 |
13,679,531 |
12,515,213 |
(10,902,410) |
|
Net Tangible Assets |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
Net Monetary Assets |
16,743,069 |
15,186,800 |
13,679,531 |
12,515,213 |
(10,902,410) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
2,937,983 |
2,827,000 |
2,164,313 |
4,556,562 |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
2,955,809 |
2,845,668 |
2,181,195 |
4,565,425 |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
28,996,170 |
25,388,542 |
22,012,410 |
15,768,503 |
- |
|
Total Liabilities |
33,112,680 |
28,978,652 |
34,969,656 |
25,361,793 |
47,549,393 |
|
Total Assets |
50,059,398 |
44,372,553 |
48,887,522 |
37,980,051 |
59,823,066 |
|
Net Assets |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
Net Assets Backing |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
Shareholders' Funds |
16,946,718 |
15,393,901 |
13,917,866 |
12,618,258 |
12,273,673 |
|
Total Share Capital |
7,614,662 |
7,614,662 |
7,614,662 |
7,614,662 |
10,000,020 |
|
Total Reserves |
9,332,056 |
7,779,239 |
6,303,204 |
5,003,596 |
2,273,653 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
11.47 |
37.94 |
3.59 |
19.41 |
66.80 |
|
Proft/(Loss) Before Tax |
(0.78) |
30.31 |
(62.73) |
160.04 |
41.89 |
|
Proft/(Loss) After Tax |
3.78 |
15.31 |
(59.20) |
179.65 |
32.76 |
|
Total Assets |
12.82 |
(9.24) |
28.72 |
(36.51) |
421.24 |
|
Total Liabilities |
14.27 |
(17.13) |
37.88 |
(46.66) |
610.73 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.23 |
0.22 |
0.18 |
0.22 |
- |
|
Liquid Ratio |
1.51 |
1.52 |
1.39 |
1.49 |
- |
|
Current Ratio |
1.51 |
1.52 |
1.39 |
1.49 |
0.77 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
- |
|
Debtors Ratio |
92 |
91 |
142 |
110 |
- |
|
Creditors Ratio |
8 |
8 |
44 |
33 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.71 |
1.65 |
1.58 |
1.25 |
- |
|
Liabilities Ratio |
1.95 |
1.88 |
2.51 |
2.01 |
3.87 |
|
Times Interest Earned Ratio |
2.56 |
2.76 |
2.77 |
5.39 |
- |
|
Assets Backing Ratio |
2.23 |
2.02 |
1.83 |
1.66 |
1.23 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.07 |
1.20 |
1.27 |
3.53 |
1.62 |
|
Net Profit Margin |
0.93 |
0.99 |
1.19 |
3.02 |
1.29 |
|
Return On Net Assets |
17.34 |
18.36 |
15.55 |
36.11 |
11.63 |
|
Return On Capital Employed |
17.34 |
18.36 |
15.55 |
36.11 |
11.63 |
|
Return On Shareholders' Funds/Equity |
9.14 |
9.70 |
9.30 |
25.16 |
9.25 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
|
SGD |
1 |
INR 48.50 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.