|
|
|
MIRA INFORM REPORT
|
Report No. : |
516480 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
BOROUGE PTE. LTD. |
|
|
|
|
Registered Office : |
2, Shenton Way, 18-01, SGX Centre I, 068804 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
09.04.1998 |
|
|
|
|
Com. Reg. No.: |
199801755H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the trading of plastic raw
materials, polyolefins. |
|
|
|
|
No. of Employees : |
200 [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+ |
Low Risk |
Business dealings permissible with low
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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 electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s 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 from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Growth recovered to 3.6% in 2017 with a strengthening global economy.
The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population. 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 signatory of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and a party to the Regional Comprehensive Economic Partnership (RCEP) negotiations with 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. |
: |
199801755H |
|
COMPANY NAME |
: |
BOROUGE PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
09/04/1998 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
2, SHENTON WAY, 18-01, SGX CENTRE I, 068804, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1, GEORGE STREET, 18-01, 049145, SINGAPORE. |
|
TEL.NO. |
: |
65-62754100 |
|
FAX.NO. |
: |
65-63771233 |
|
WEB SITE |
: |
WWW.BOROUGE.COM |
|
CONTACT PERSON |
: |
SEAH GEK HUANG ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PLASTIC RAW MATERIALS, POLYOLEFINS |
|
ISSUED AND PAID UP CAPITAL |
: |
5,500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 5,500,000.00 |
|
SALES |
: |
USD 4,527,351,296 [2017] |
|
NET WORTH |
: |
USD 160,442,395 [2017] |
|
STAFF STRENGTH |
: |
200 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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
plastic raw materials, polyolefins.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
01/06/2018 |
SGD 5,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ABU DHABI NATIONAL OIL COMPANY |
P O BOX 898, ABU DHABI UNITED ARAB EMIRATES |
T04UF0284 |
2,750,000.00 |
50.00 |
|
BOREALIS AG |
WAGRAMERSTRASSE, 17-19, VIENNA 1220 ,AUSTRIA |
T11UF1228 |
2,750,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
5,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
BOROUGE (INDIA) PVT LTD |
- |
100.00 |
31/12/2016 |
|
|
200821012N |
SINGAPORE |
BOROUGE COMPOUNDING HOLDING PTE. LTD. |
- |
100.00 |
01/06/2018 |
|
HONG KONG |
BOROUGE HONG KONG LIMITED |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
BOROUGE SALES AND MARKETING (GUANGZHOU) CO. LTD |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
BOROUGE SALES AND MARKETING (SHANGHAI) CO. LTD |
- |
100.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ABDULLA NAJI ABDULLA ATEYA ALMESSABI |
|
Address |
: |
MOHAMED BIN ZAYED CITY, SECTOR Z20, PLOT 95, VILLA 4, ABU DHABI, UNITED
ARAB EMIRATES. |
|
IC / PP No |
: |
C23K26764 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
29/08/2017 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
29/08/2017 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
ABDULAZIZ ABDULLA ISMAIL MOHAMED ALHAJRI |
|
Address |
: |
AL REEM ISLAND, 17, AL REEM C11, TOWER 1, FLAT 6106, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
R86685572 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MOHAMED SALEM MOHAMED MUNAKHS AL MUHAIRBI |
|
Address |
: |
VILLA 460, AL KHALEEJ AL ARABI STREET, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
A2260226 |
|
Nationality |
: |
EMIRATI |
|
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 |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
21/05/2008 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MICHAEL KROMAN BJORN |
|
Address |
: |
SAADIYAT BEACH VILLAS 2, VILLA 181, PO BOX 48313, ABU DHABI, UNITED
ARAB EMIRATES. |
|
IC / PP No |
: |
206614894 |
|
Nationality |
: |
DANE |
|
Date of Appointment |
: |
01/09/2014 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
01/09/2014 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
KATJA TAUTSCHER |
|
Address |
: |
WEIMARER STRASSE 24/7, 1180, VIENNA, AUSTRIA. |
|
IC / PP No |
: |
P 2501306 |
|
Nationality |
: |
AUSTRIAN |
|
Date of Appointment |
: |
23/09/2013 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
23/09/2013 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
ALFRED STERN |
|
Address |
: |
FRANZ JONAS-STRASSE 24, A-2000, STOCKERAU, AUSTRIA. |
|
IC / PP No |
: |
P 7584565 |
|
Nationality |
: |
AUSTRIAN |
|
Date of Appointment |
: |
01/07/2012 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
01/07/2012 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
SALEM HAREB SALEM KHALIFA ALMHEIRI |
|
Address |
: |
W17, 03, PLOT 23, AL SHANAYEL Y VILLA 7, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
GL6423148 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 8
|
Name Of Subject |
: |
SANDRA SEAH GEK HUANG |
|
Address |
: |
143, SERANGOON AVENUE 3, 06-08, THE SPRINGBLOOM, 556121, SINGAPORE. |
|
IC / PP No |
: |
S7136473I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
13/12/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Secretary Director |
05/10/2016 13/12/2016 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
|
2 |
199705372E |
BYSTRONIC ASIA PTE LTD |
Secretary |
01/06/2016 |
0.00 |
- |
SGD513,810.00 |
2015 |
- |
08/07/2016 |
|
3 |
199905019H |
CICOR ASIA PTE. LTD. |
Secretary |
15/05/2008 |
0.00 |
- |
SGD(359,380.00) |
2016 |
- |
26/07/2017 |
|
4 |
200703244R |
CONTINENTAL ALLOYS & SERVICES PTE. LTD. |
Secretary |
21/10/2008 |
0.00 |
- |
USD(3,009,727.00) |
2016 |
- |
13/11/2017 |
|
5 |
200504186D |
FUGRO MARINE SERVICES PTE. LTD. |
Secretary |
14/02/2014 |
0.00 |
- |
SGD61,062.00 |
2015 |
- |
12/05/2017 |
|
6 |
200918971K |
HORIZON FORWARD TRADING PTE. LTD. |
Secretary |
02/11/2009 |
0.00 |
- |
USD2,868,973.00 |
2016 |
- |
09/03/2018 |
|
7 |
198801863H |
II-VI SINGAPORE PTE LTD |
Secretary |
30/06/2016 |
0.00 |
- |
USD31,108,706.00 |
2016 |
- |
18/04/2017 |
|
8 |
200101166N |
JUNGHEINRICH LIFT TRUCK SINGAPORE PTE LTD |
Secretary |
01/05/2004 |
0.00 |
- |
SGD782,169.00 |
2016 |
- |
16/11/2017 |
|
9 |
198303078N |
METSO ASIA PACIFIC PTE. LTD. |
Secretary |
30/04/2016 |
0.00 |
- |
SGD4,168,000.00 |
2016 |
- |
30/05/2018 |
|
10 |
198801539M |
ORACLE CORPORATION SINGAPORE PTE LTD |
Secretary |
01/03/2016 |
0.00 |
- |
SGD(2,141,094.00) |
2017 |
- |
02/04/2018 |
|
11 |
200615588C |
PFIZER ASIA MANUFACTURING PTE. LTD. |
Secretary |
30/04/2016 |
0.00 |
- |
USD512,324,000.00 |
2016 |
- |
27/10/2017 |
|
12 |
200311819K |
TERADYNE (ASIA) PTE. LTD. |
Secretary |
20/11/2003 |
0.00 |
- |
USD197,853,000.00 |
2015 |
- |
15/11/2016 |
DIRECTOR 9
|
Name Of Subject |
: |
AHMED KHALFAN SALEM MUFTAH ALMANSOORI |
|
Address |
: |
SE-42, PLOT 31, VILLA A-5, KHALIFA CITY, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
NZ5985167 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
DIRECTOR 10
|
Name Of Subject |
: |
PHILIPPE RENE M. ROODHOOFT |
|
Address |
: |
ALBERTGASSE 34/34, 1080 VIENNA, AUSTRIA. |
|
IC / PP No |
: |
EN984497 |
|
Nationality |
: |
BELGIAN |
|
Date of Appointment |
: |
13/02/2018 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
13/02/2018 |
0.00 |
- |
USD54,816,359.00 |
2017 |
- |
01/06/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SEAH GEK HUANG |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
SANDRA SEAH GEK HUANG |
|
IC / PP No |
: |
S7136473I |
|
|
Address |
: |
143, SERANGOON AVENUE 3, 06-08, THE SPRINGBLOOM, 556121, SINGAPORE. |
|
|
Date of Appointment |
: |
05/10/2016 |
|
|
|
|
|
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
CIVIL
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 |
: |
PLASTIC RAW MATERIALS, POLYOLEFINS |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
200 |
200 |
200 |
200 |
200 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of plastic raw
materials, polyolefins.
The Subject is the leading provider of innovative, value creating plastics
solutions.
The Subject sells the products according to its customers' requirements.
It offers bimodal polyethylene products and polyolefins. The products are used
in power and communication cables, packaging, and automotive components, as
well as in water, gas, and industrial pipe systems.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62754100 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
2 SHETON WAY 18-01 SGX CENTRE I 066804 SINGAPORE |
|
Current Address |
: |
1, GEORGE STREET, 18-01, 049145, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 1st June 2018, we have contacted one of the staff from the Subject and she provided
some information.
The address provided belongs to the Subject's registered office.
The Subject refused to disclose its banker information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
34.17% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
40.53% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The higher profit could be attributed to the
increase in turnover. Generally the Subject was profitable. The favourable
return on shareholders' funds and return on net assets indicate that the
Subject's management was efficient in utilising the assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. 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 |
[ |
1.18 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.20 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 |
[ |
79.17 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.14 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 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 : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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 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 : STABLE |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical & Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery & Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance & Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production (2015 = 100) |
|||||
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
According to the Ministry of Trade and Industry, the wholesale &
retail trade sector expanded to 3.0% in the fourth quarter of 2017,
moderating from the 3.3% growth in the previous quarter. The wholesale trade
segment was boosted by an improvement in foreign wholesale sales volume,
which more than offset the weakness in domestic wholesale sales volume. For
the whole of 2017, the sector expanded by 2.3%, faster than the 1.0% growth
in 2016. The improvement in growth can be attributed to the wholesale segment. |
|
|
The domestic wholesale sales volume fell by 1.1% in the fourth quarter
2017, reversing the 2.0% growth in the preceding quarter. The poorer outturn
was led by declines in the sales volume of household equipment &
furniture (-27%) and general wholesale merchandise (-19%), which outweighed
the increase in the sales volume of telecommunications & computers (20%).
For the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On the other hand, foreign wholesale sales volume rose to 6.2% in the
fourth quarter 2017, a step-up from the 5.1% growth in the preceding quarter.
Growth was driven by expansions in the sales of petroleum &
petroleum-related products (11%t), telecommunications & computers (19%)
and electronic components (16%). However, growth was partly offset by a 20%
decline in the sales volume of metals, timber & construction materials.
For the full year 2017, the foreign wholesale trade index rose by 3.6%,
faster than the increase of 1.5% in the previous year. |
|
|
Besides, retail sales volume rose by 2.1% in the fourth quarter 2017,
improving from the 0.9% growth recorded in the third quarter. Growth was supported
by improvements in both motor vehicle and non-motor vehicle sales volumes.
While motor vehicle sales benefitted from an on-year increase in COE supply,
growth in non-motor vehicle sales came on the back of an improvement in
consumer sentiments. Notably, the sales volume of discretionary goods such as
recreational goods, computer & telecommunication equipment and wearing
apparel & footwear grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For the full year 2017, retail sales volume expanded by 1.3%, similar
to the 1.5% growth recorded in 2016. Growth was driven by both motor vehicle
sales and non-motor vehicle sales, which the former rising by 1.5% and the
latter increasing by 1.3%. The rise in non-motor vehicle sales was
underpinned by higher sales of discretionary goods. For instance, the sales
volume of recreational goods (3.9%), watches & jewellery (2.4%), computer
& telecommunications equipment (1.7%) and wearing apparel & footwear
(1.5%) improved in 2017. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
BOROUGE PTE. LTD. |
|
Financial Year
End |
2017-12-31 |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
4,527,351,296 |
4,593,522,072 |
4,243,948,024 |
3,877,126,384 |
3,305,285,387 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
4,527,351,296 |
4,593,522,072 |
4,243,948,024 |
3,877,126,384 |
3,305,285,387 |
|
Costs of Goods Sold |
(4,297,136,975) |
(4,354,789,788) |
(4,067,136,430) |
(3,719,382,792) |
(3,138,956,576) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
230,214,321 |
238,732,284 |
176,811,594 |
157,743,592 |
166,328,811 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
64,210,132 |
38,191,476 |
(34,213,236) |
9,581,110 |
38,699,320 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
64,210,132 |
38,191,476 |
(34,213,236) |
9,581,110 |
38,699,320 |
|
Taxation |
(9,393,773) |
(3,688,437) |
(1,346,702) |
(998,811) |
(3,040,589) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
54,816,359 |
34,503,039 |
(35,559,938) |
8,582,299 |
35,658,731 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
142,419,511 |
87,653,047 |
53,150,008 |
88,709,946 |
80,127,647 |
|
TRANSFER TO RESERVES - General |
(686,238) |
(49,895) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
141,733,273 |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Term loan / Borrowing |
821,447 |
1,782,006 |
1,387,565 |
1,087,782 |
1,142,718 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
821,447 |
1,782,006 |
1,387,565 |
1,087,782 |
1,142,718 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
7,774,642 |
8,146,046 |
7,224,718 |
4,373,537 |
3,949,397 |
|
AMORTIZATION |
387,811 |
177,284 |
177,283 |
177,283 |
193,073 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
8,162,453 |
8,323,330 |
7,402,001 |
4,550,820 |
4,142,470 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
BOROUGE PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
48,788,951 |
51,053,732 |
59,617,120 |
52,779,200 |
43,216,399 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Associated companies |
- |
- |
41,539 |
41,539 |
41,539 |
|
Deferred assets |
3,733,523 |
3,579,341 |
4,115,809 |
3,975,391 |
4,179,767 |
|
Others |
- |
- |
3,168,896 |
3,240,916 |
3,312,936 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,733,523 |
3,579,341 |
7,326,244 |
7,257,846 |
7,534,242 |
|
INTANGIBLE ASSETS |
|||||
|
Intellectual property and license rights |
3,007,479 |
3,412,665 |
421,053 |
526,316 |
- |
|
Others |
- |
- |
- |
- |
631,579 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
3,007,479 |
3,412,665 |
421,053 |
526,316 |
631,579 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
55,529,953 |
58,045,738 |
67,364,417 |
60,563,362 |
51,382,220 |
|
CURRENT ASSETS |
|||||
|
Stocks |
15,229,740 |
13,749,736 |
28,728,239 |
34,074,430 |
36,304,187 |
|
Trade debtors |
573,929,173 |
584,881,827 |
565,575,658 |
553,557,431 |
712,133,689 |
|
Other debtors, deposits & prepayments |
11,069,459 |
11,406,424 |
17,792,394 |
15,981,380 |
41,416,284 |
|
Short term deposits |
34,483,616 |
41,739,073 |
- |
- |
- |
|
Amount due from subsidiary companies |
- |
544,838 |
- |
- |
- |
|
Amount due from related companies |
5,826,981 |
15,244,368 |
31,338,959 |
103,015,776 |
- |
|
Cash & bank balances |
54,643,409 |
81,400,470 |
165,845,945 |
70,474,827 |
63,245,134 |
|
Amount owing by shareholders |
68,755,770 |
122,946,437 |
111,875,743 |
130,081,534 |
- |
|
Others |
- |
- |
- |
258,752 |
498,750 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
763,938,148 |
871,913,173 |
921,156,938 |
907,444,130 |
853,598,044 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
819,468,101 |
929,958,911 |
988,521,355 |
968,007,492 |
904,980,264 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
66,399,599 |
58,223,574 |
83,812,506 |
95,550,138 |
702,817,387 |
|
Other creditors & accruals |
40,859,452 |
47,542,173 |
31,921,066 |
55,794,687 |
51,119,506 |
|
Deposits from customers |
34,623,966 |
47,870,409 |
- |
- |
- |
|
Amounts owing to related companies |
490,722,976 |
623,687,048 |
733,494,172 |
660,528,125 |
- |
|
Provision for taxation |
4,345,330 |
1,307,546 |
789,044 |
879,168 |
2,553,278 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
636,951,323 |
778,630,750 |
850,016,788 |
812,752,118 |
756,490,171 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
126,986,825 |
93,282,423 |
71,140,150 |
94,692,012 |
97,107,873 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
22,000,000 |
50,130,000 |
67,930,000 |
45,930,000 |
45,930,000 |
|
Deferred taxation |
74,383 |
78,344 |
240,218 |
282,709 |
232,430 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
22,074,383 |
50,208,344 |
68,170,218 |
46,212,709 |
46,162,430 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
160,442,395 |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
RESERVES |
|||||
|
Capital reserve |
14,801,053 |
14,801,053 |
14,801,053 |
14,801,053 |
14,801,053 |
|
Exchange equalisation/fluctuation reserve |
(29,844) |
(4,536,063) |
(821,202) |
2,327,176 |
4,194,473 |
|
Retained profit/(loss) carried forward |
141,733,273 |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
|
Others |
736,133 |
49,895 |
2,710 |
2,710 |
2,710 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
157,240,615 |
97,918,037 |
67,132,569 |
105,840,885 |
99,125,883 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
160,442,395 |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
BOROUGE PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
89,127,025 |
123,139,543 |
165,845,945 |
70,474,827 |
63,245,134 |
|
Net Liquid Funds |
89,127,025 |
123,139,543 |
165,845,945 |
70,474,827 |
63,245,134 |
|
Net Liquid Assets |
111,757,085 |
79,532,687 |
42,411,911 |
60,617,582 |
60,803,686 |
|
Net Current Assets/(Liabilities) |
126,986,825 |
93,282,423 |
71,140,150 |
94,692,012 |
97,107,873 |
|
Net Tangible Assets |
157,434,916 |
97,707,152 |
69,913,296 |
108,516,349 |
101,696,084 |
|
Net Monetary Assets |
89,682,702 |
29,324,343 |
(25,758,307) |
14,404,873 |
14,641,256 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
65,031,579 |
39,973,482 |
(32,825,671) |
10,668,892 |
39,842,038 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
73,194,032 |
48,296,812 |
(25,423,670) |
15,219,712 |
43,984,508 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
22,000,000 |
50,130,000 |
67,930,000 |
45,930,000 |
45,930,000 |
|
Total Liabilities |
659,025,706 |
828,839,094 |
918,187,006 |
858,964,827 |
802,652,601 |
|
Total Assets |
819,468,101 |
929,958,911 |
988,521,355 |
968,007,492 |
904,980,264 |
|
Net Assets |
160,442,395 |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
|
Net Assets Backing |
160,442,395 |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
|
Shareholders' Funds |
160,442,395 |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
|
Total Share Capital |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
Total Reserves |
157,240,615 |
97,918,037 |
67,132,569 |
105,840,885 |
99,125,883 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(1.44) |
8.24 |
9.46 |
17.30 |
1.63 |
|
Proft/(Loss) Before Tax |
68.13 |
211.63 |
(457.09) |
(75.24) |
32.90 |
|
Proft/(Loss) After Tax |
58.87 |
197.03 |
(514.34) |
(75.93) |
26.75 |
|
Total Assets |
(11.88) |
(5.92) |
2.12 |
6.96 |
9.24 |
|
Total Liabilities |
(20.49) |
(9.73) |
6.89 |
7.02 |
5.13 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.14 |
0.16 |
0.20 |
0.09 |
0.08 |
|
Liquid Ratio |
1.18 |
1.10 |
1.05 |
1.07 |
1.08 |
|
Current Ratio |
1.20 |
1.12 |
1.08 |
1.12 |
1.13 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
1 |
1 |
2 |
3 |
4 |
|
Debtors Ratio |
46 |
46 |
49 |
52 |
79 |
|
Creditors Ratio |
6 |
5 |
8 |
9 |
82 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.14 |
0.50 |
0.97 |
0.42 |
0.45 |
|
Liabilities Ratio |
4.11 |
8.20 |
13.05 |
7.88 |
7.84 |
|
Times Interest Earned Ratio |
79.17 |
22.43 |
(23.66) |
9.81 |
34.87 |
|
Assets Backing Ratio |
49.17 |
30.52 |
21.84 |
33.89 |
31.76 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.42 |
0.83 |
(0.81) |
0.25 |
1.17 |
|
Net Profit Margin |
1.21 |
0.75 |
(0.84) |
0.22 |
1.08 |
|
Return On Net Assets |
40.53 |
39.53 |
(46.67) |
9.78 |
38.94 |
|
Return On Capital Employed |
35.05 |
25.83 |
(23.63) |
6.85 |
26.72 |
|
Return On Shareholders' Funds/Equity |
34.17 |
34.12 |
(50.56) |
7.87 |
34.85 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.20 |
|
|
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
|
SGD |
1 |
INR 49.97 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.