|
|
|
MIRA INFORM REPORT
|
Report No. : |
516218 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
AIR LIQUIDE SINGAPORE PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
SINGAPORE OXYGEN AIR LIQUIDE PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
438b, Alexandra Road, 07-01, Alexandra
Technopark, 119968 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
16.12.1970 |
|
|
|
|
Com. Reg. No.: |
197001157D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in manufacture of industrial,
medical and electronic gases, medical, safety equipment and accessories. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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. |
: |
197001157D |
|
COMPANY NAME |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
|
FORMER NAME |
: |
SINGAPORE OXYGEN AIR LIQUIDE
PRIVATE LIMITED (07/07/2016) |
|
INCORPORATION DATE |
: |
16/12/1970 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY
SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
438B, ALEXANDRA ROAD, 07-01,
ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
438B ALEXANDRA ROAD BLOCK B,
#07-01. ALEXANDRA TECHNOPARK SINGAPORE 119968., 119968, SINGAPORE. |
|
TEL.NO. |
: |
65-62653788 |
|
FAX.NO. |
: |
65-62644560 |
|
WEB SITE |
: |
WWW.AIRLIQUIDE.COM |
|
CONTACT PERSON |
: |
NG BOON HAI ( MANAGING
DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF INDUSTRIAL,
MEDICAL AND ELECTRONIC GASES, MEDICAL, SAFETY EQUIPMENT AND ACCESSORIES |
|
ISSUED AND PAID UP CAPITAL |
: |
42,000,000.00 ORDINARY
SHARE, OF A VALUE OF SGD 42,000,000.00 |
|
SALES |
: |
SGD 701,382,000 [2016] |
|
NET WORTH |
: |
SGD 417,940,000 [2016] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
HIGH |
|
GENERAL REPUTATION |
: |
GOOD |
|
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) manufacture of
industrial, medical and electronic gases, medical, safety equipment and
accessories.
The immediate holding company
of the Subject is SOCIETE D'OXYGENE ET D'ACETYLENE D'EXTREME-ORIENT, a company
incorporated in FRANCE.
The ultimate holding company
of the Subject is L'AIR LIQUDE S.A, a company incorporated in FRANCE.
Share Capital
History
|
Date |
Issue & Paid Up Capital |
|
22/06/2018 |
SGD 142,000,000.00 |
The major shareholder(s) of
the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SOCIETE D'OXYGENE ET D'ACETYLENE
D'EXTREME-ORIENT |
75, QUAI D'ORSAY, 75321,
PARIS CEDEX 07 FRANCE |
S88UF0092 |
42,001,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
42,001,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in
other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
199805585D |
SINGAPORE |
SAKRA ISLAND CARBON DIOXIDE
PTE LTD |
- |
50.00 |
22/06/2018 |
|
197402087W |
SINGAPORE |
SINGAPORE CARBON DIOXIDE
COMPANY PRIVATE LIMITED |
- |
100.00 |
08/07/2016 |
|
201421118E |
SINGAPORE |
SINGAPORE OXYGEN ENGINEERING
PTE. LTD. |
- |
100.00 |
22/06/2018 |
|
199707895H |
SINGAPORE |
SOXAL-MI TECHNOLOGIES PTE
LTD |
- |
50.00 |
22/06/2018 |
|
201424006E |
SINGAPORE |
VITALAIRE - AVATTVON
SINGAPORE PTE. LTD. |
- |
100.00 |
22/06/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ALAIN MARIE DOMINIQUE JOUET |
|
Address |
: |
ROOM 1501 NO. 2 33 XIANGSHAN,
ROAD SHANGHAI CHINA, CHINA. |
|
IC / PP No |
: |
15CR68721 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
30/04/2018 |
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 |
1195835M |
AIR LIQUIDE BUSINESS
SERVICES SDN. BHD. |
Director |
16/05/2017 |
0.00 |
- |
- |
- |
- |
28/05/2018 |
|
2 |
197001157D |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
Director |
30/04/2018 |
0.00 |
- |
SGD100,037,000.00 |
2016 |
- |
22/06/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
ANQUETIL CAVALLI VIRGINIE
MICHELE MONIQUE |
|
Address |
: |
13, LEEDON HEIGHTS, 01-43,
D'LEEDON, 266224, SINGAPORE. |
|
IC / PP No |
: |
S6969202H |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
04/01/2016 |
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 |
197001157D |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
Director |
04/01/2016 |
0.00 |
- |
SGD100,037,000.00 |
2016 |
- |
22/06/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
KAZUYUKI SAKATA |
|
Address |
: |
WINDSOR PLACE, HOUSE NO.
110, JIAN HE ROAD, 2222, CHANGNING DISTRICT, SHANGHAI, CHINA. |
|
IC / PP No |
: |
TZ0651971 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/03/2013 |
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 |
197001157D |
AIR LIQUIDE SINGAPORE PRIVATE
LIMITED |
Director |
01/03/2013 |
0.00 |
- |
SGD100,037,000.00 |
2016 |
- |
22/06/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. NG BOON HAI |
|
Address |
: |
158, HAIG ROAD, 10-04, HAIG
COURT, 438794, SINGAPORE. |
|
IC / PP No |
: |
S2618439H |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
04/01/2016 |
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 |
197001157D |
AIR LIQUIDE SINGAPORE PRIVATE
LIMITED |
Director |
04/01/2016 |
0.00 |
- |
SGD100,037,000.00 |
2016 |
- |
22/06/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
PARVADAVARTHINI EP LARUE |
|
Address |
: |
278, OCEAN DRIVE, 04-09, THE
COAST @ SENTOSA COVE, 098450, SINGAPORE. |
|
IC / PP No |
: |
G3209931P |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
04/01/2016 |
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 |
197001157D |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
Director |
04/01/2016 |
0.00 |
- |
SGD100,037,000.00 |
2016 |
- |
22/06/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
NG BOON HAI |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
ANGELA TOH LI PING |
|
IC / PP No |
: |
S8616968A |
|
|
Address |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE
LAND TOWER, 048623, SINGAPORE. |
|
|
Date of Appointment |
: |
05/09/2016 |
|
|
2) |
Company Secretary |
: |
YUEN HENG MUN |
|
IC / PP No |
: |
S7764387G |
|
|
Address |
: |
9A, BOON TIONG ROAD, 10-507,
TIONG BAHRU VIEW, 162009, SINGAPORE. |
|
|
Date of Appointment |
: |
01/05/2018 |
|
|
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 winding up petition was found in our databank.
|
LEGAL ACTION |
|
||||||
|
|||||||
|
|||||||
|
Total PENDING Case(s) : 1 |
|
||||||
|
|||||||
|
Case Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
20676 |
||
|
Year |
: |
2017 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
08/12/2017 |
|||||
|
Solicitor |
: |
NEDUMARAN MUTHUKRISHNAN |
|||||
|
Solicitor Firm |
: |
M NEDUMARAN & CO. |
|||||
|
Plaintiff |
: |
ZENLI CONTRACTOR PTE LTD |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Amount Claimed |
: |
7339 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
NEGLIGENCE (MOTOR ACCIDENTS
WITHOUT DEATH/ INJURY) |
|||||
|
Total SETTLED Case(s) : 5 |
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
9360 |
||
|
Year |
: |
2013 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
26/04/2013 |
|||||
|
Solicitor Firm |
: |
KURU & CO |
|||||
|
Plaintiff |
: |
PHUA CHYE HUAT YIT LIAN SENG BATTERY |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
|
|
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
1565 |
||
|
Year |
: |
2009 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
19/01/2009 |
|||||
|
Solicitor |
: |
LANG FATT KHIN LAWRENCE |
|||||
|
Solicitor Firm |
: |
CHIANG WEE &
PARTNERS |
|||||
|
Plaintiff |
: |
MUHAMMAD FARHAD BIN MAHMOOD |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Amount Claimed |
: |
10000 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
|
|
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
7476 |
||
|
Year |
: |
2010 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
24/03/2010 |
|||||
|
Solicitor Firm |
: |
BONNIE KWOK & CO |
|||||
|
Plaintiff |
: |
TEY HANG LIANG |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Amount Claimed |
: |
2472.5 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
|
|
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
14036 |
||
|
Year |
: |
2010 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
02/06/2010 |
|||||
|
Solicitor Firm |
: |
SIM MONG TECK &
PARTNERS |
|||||
|
Plaintiff |
: |
KER MEI YIN |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Amount Claimed |
: |
43000 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
|
|
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
24142 |
||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE COURT |
|||||
|
Date Filed |
: |
05/10/2011 |
|||||
|
Solicitor Firm |
: |
COSMAS & CO |
|||||
|
Plaintiff |
: |
SOH BOON SIEW |
|||||
|
DEFENDANTS |
: |
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED (197001157) |
|||||
|
Amount Claimed |
: |
50000 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
PAYMENT RECORD
|
|
|||||
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
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 |
Percentage |
: |
60% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
650 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of industrial,
medical and electronic gases, medical, safety equipment and accessories.
The SC engaged in manufacturer of industrial, medical, speciality and
electronics gases, and associated gas systems.
The SC offer wide range of product such as:
1) GASES - Industrial Gases, Medical Gases, Tonnage Gases, Electronic Gases,
Specialty Gases, Dry Ice, Helium, Lab Gases
2) EQUIPMENTS / FACILITIES - Apsa Generators, Alphagaz Generators, Cryogenic
Equipment, Industrial Gas Systems, Hospital Gas Systems, Home Oxygen Therapy
Sets, Bulk Chemical Dispensing Systems, Gas Monitoring and Analysing Systems,
Gas Cabinets, Valve Manifold Boxes
CURRENT INVESTIGATION
|
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62653788 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
4388 ALEXANDRA ROAD, BLOCK B
07-01 ALEXANDRA TECHNO PARK, 119968 SINGAPORE |
|
Current Address |
: |
438B ALEXANDRA ROAD BLOCK B,
#07-01. ALEXANDRA TECHNOPARK SINGAPORE 119968., 119968, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
23.94% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
29.43% |
] |
|
|
The fluctuating turnover
reflects the fierce competition among the existing and new market players.The
Subject's management have been efficient in controlling its operating costs.
The Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
9 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
50 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
20 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 |
: |
Unfavourable |
[ |
0.44 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.50 Times |
] |
|
|
A low liquid ratio means
that the Subject may be facing working capital deficiency. If the Subject
cannot obtain additional financing or injection of fresh capital, it may face
difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.57 Times |
] |
|
|
The Subject's interest cover
was nil as it did not pay any interest during the year. 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. Due to
its weak liquidity position, the Subject will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. The Subject did not make any
interest payment during the year. The Subject was dependent on its
shareholders' funds to finance its business needs. 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 : FAIR |
||||||
|
|
||||||
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 : |
MANUFACTURING |
|
The manufacturing sector expanded
by 4.8% in the fourth quarter, supported largely by robust output growth in
the electronics and precision engineering clusters. For the whole of 2017,
the manufacturing sector grew by 10%, accelerating from the 3.7% expansion in
2016. Growth was largely driven by the electronics and precision engineering
clusters, even as the biomedical manufacturing, transport engineering and
general manufacturing industries clusters contracted. |
|
|
The electronics cluster grew
by 24% in the fourth quarter 2017, largely due to the semiconductors segment,
which expanded by 35%. Specifically, the semiconductors segment benefitted
from robust global semiconductors demand, which was in turn driven by key end
markets such as the smartphone market. At the same time, the computer
peripherals segment registered healthy growth of 9.5%, supported by buoyant
demand for printer-related products. On the other hand, the data storage and
other electronic modules & components segments contracted by 25% and 7.5%
respectively. For the full year, the electronics cluster expanded by 34% as
the healthy performance of the semiconductors and computer peripherals
segments more than offset the weakness in the data storage segment. |
|
|
In fourth quarter 2017, the
precision engineering cluster expanded to 20%, supported by both the
precision modules & components (PMC) and machinery & systems
(M&S) segments. Output in the PMC segment rose by 40% due to an increase
in the production of dies, moulds, tools, jigs & fixture, optical
instruments and metal precision components. Meanwhile, the M&S segment
grew by 8.9% in tandem with healthy export demand for semiconductor
manufacturing equipment. For the whole of 2017, the output of the precision
engineering cluster rose by 18% on account of robust expansions in both
segments. |
|
|
The chemicals cluster grew
by 12% in the fourth quarter 2017, with all segments recording growth. In
particular, the petrochemicals segment grew by 23% on the back of production capacity
expansions, while the petroleum segment expanded by 13% supported by higher
refining margins. At the same time, the other chemicals and specialties
segments posted growth of 8.1% and 6.2%respectively. For 2017 as a whole, the
chemicals cluster expanded by 6.2%, supported by growth in all segments. |
|
|
Besides, output of the
general manufacturing industries cluster increased to 6.6% in the fourth
quarter 2017, primarily due to the strong performance of the food, beverages
& tobacco (FBT) segment, which grew by 18% on the back of a surge in the
production of beverages products. On the other hand, the printing segment
shrank by 11% due to weak demand for commercial printing, while output in the
miscellaneous industries segment declined by 0.6% on account of a lower
production of construction-related materials. For the whole of 2017, the
general manufacturing industries cluster contracted by 1.6%, as output
declines in the printing and miscellaneous industries segments outweighed
output gains in the FBT segment. |
|
|
Moreover, output of the
transport engineering cluster fell by 7.8% in the fourth quarter 2017. The
aerospace segment recorded robust growth of 13% due to a higher volume of repair
and maintenance work from commercial airlines. However, this was more than
offset by output declines in the marine & offshore engineering (M&OE)
and land transport segments of 22% and 11% respectively. In particular, the
M&OE segment remained weak on account of low levels of rig-building,
shipbuilding and repair activities. For the full year 2017, the transport
engineering cluster shrank by 6.9%, dragged down mainly by the M&OE
segment. |
|
|
The biomedical manufacturing
cluster contracted by 28% in the fourth quarter 2017, weighed down by the
pharmaceuticals segment (-37%) on the back of a drop in the production of
active pharmaceutical ingredients and biological products. However, the
medical technology segment, which grew at a healthy pace of 3.3%, provided
some support to the cluster. For 2017 as a whole, output in the biomedical
manufacturing cluster fell by 9.3%, led by the output decline in the
pharmaceuticals segment. |
|
|
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. |
|
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report
(Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
FULL |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
701,382,000 |
676,358,000 |
737,295,000 |
706,279,000 |
731,581,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
701,382,000 |
676,358,000 |
737,295,000 |
706,279,000 |
731,581,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM
OPERATIONS |
123,006,000 |
109,428,000 |
106,175,000 |
98,099,000 |
96,130,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
TAXATION |
123,006,000 |
109,428,000 |
106,175,000 |
98,099,000 |
96,130,000 |
|
Taxation |
(22,969,000) |
(12,414,000) |
(17,553,000) |
(15,893,000) |
(11,344,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
100,037,000 |
97,014,000 |
88,622,000 |
82,206,000 |
84,786,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
|||||
|
As previously reported |
271,980,000 |
255,466,000 |
166,844,000 |
304,638,000 |
219,852,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
271,980,000 |
255,466,000 |
166,844,000 |
304,638,000 |
219,852,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
372,017,000 |
352,480,000 |
255,466,000 |
386,844,000 |
304,638,000 |
|
DIVIDENDS - Ordinary (paid
& proposed) |
(105,000,000) |
(80,500,000) |
- |
(220,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
CARRIED FORWARD |
267,017,000 |
271,980,000 |
255,466,000 |
166,844,000 |
304,638,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per
notes to P&L) |
0 |
- |
|||
|
Term loan / Borrowing |
- |
- |
- |
- |
1,392,000 |
|
Others |
- |
- |
- |
- |
10,863,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
- |
12,255,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes
to P&L) |
72,445,000 |
65,213,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And
Depreciation |
72,445,000 |
65,213,000 |
- |
- |
- |
|
============= |
============= |
||||
|
|
|
|
|
|
|
BALANCE SHEET
|
|
AIR LIQUIDE SINGAPORE PRIVATE
LIMITED |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
884,888,000 |
812,850,000 |
865,739,000 |
874,905,000 |
834,774,000 |
|
LONG TERM INVESTMENTS/OTHER
ASSETS |
|||||
|
Subsidiary companies |
5,050,000 |
34,050,000 |
- |
- |
833,000 |
|
Investments |
- |
- |
- |
- |
1,550,000 |
|
Loans & advances -
non-current |
- |
- |
- |
- |
318,000 |
|
Others |
24,414,000 |
19,120,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
29,464,000 |
53,170,000 |
- |
- |
2,701,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
914,352,000 |
866,020,000 |
865,739,000 |
874,905,000 |
837,475,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
17,554,000 |
15,608,000 |
- |
- |
14,042,000 |
|
Trade debtors |
96,481,000 |
75,613,000 |
- |
- |
79,275,000 |
|
Other debtors, deposits
& prepayments |
3,879,000 |
4,227,000 |
- |
- |
10,167,000 |
|
Amount due from subsidiary
companies |
- |
- |
- |
- |
1,000 |
|
Cash & bank balances |
11,166,000 |
17,873,000 |
- |
- |
40,063,000 |
|
Others |
16,897,000 |
26,220,000 |
- |
- |
6,732,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
145,977,000 |
139,541,000 |
151,198,000 |
127,064,000 |
150,280,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,060,329,000 |
1,005,561,000 |
1,016,937,000 |
1,001,969,000 |
987,755,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
39,036,000 |
41,075,000 |
- |
- |
50,766,000 |
|
Other creditors &
accruals |
93,097,000 |
88,072,000 |
- |
- |
93,815,000 |
|
Short term borrowings/Term
loans |
- |
- |
- |
- |
12,650,000 |
|
Provision for taxation |
19,488,000 |
11,366,000 |
- |
- |
14,000 |
|
Other liabilities |
139,510,000 |
139,714,000 |
- |
- |
13,059,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
291,131,000 |
280,227,000 |
236,289,000 |
183,597,000 |
170,304,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
(145,154,000) |
(140,686,000) |
(85,091,000) |
(56,533,000) |
(20,024,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
239,000,000 |
188,000,000 |
- |
- |
278,000,000 |
|
Deferred taxation |
112,258,000 |
108,333,000 |
- |
- |
79,481,000 |
|
Others |
- |
- |
- |
- |
76,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
351,258,000 |
296,333,000 |
368,858,000 |
375,192,000 |
357,557,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
|
RESERVES |
|||||
|
General reserve |
- |
- |
- |
- |
13,256,000 |
|
Retained profit/(loss) carried
forward |
267,017,000 |
271,980,000 |
255,466,000 |
166,844,000 |
304,638,000 |
|
Others |
8,923,000 |
15,021,000 |
14,324,000 |
134,336,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
275,940,000 |
287,001,000 |
269,790,000 |
301,180,000 |
317,894,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
AIR LIQUIDE SINGAPORE
PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||||
|
Cash |
11,166,000 |
17,873,000 |
- |
- |
40,063,000 |
|
Net Liquid Funds |
11,166,000 |
17,873,000 |
- |
- |
40,063,000 |
|
Net Liquid Assets |
(162,708,000) |
(156,294,000) |
(85,091,000) |
(56,533,000) |
(34,066,000) |
|
Net Current
Assets/(Liabilities) |
(145,154,000) |
(140,686,000) |
(85,091,000) |
(56,533,000) |
(20,024,000) |
|
Net Tangible Assets |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
Net Monetary Assets |
(513,966,000) |
(452,627,000) |
(453,949,000) |
(431,725,000) |
(391,623,000) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest
& Tax (EBIT) |
123,006,000 |
109,428,000 |
- |
- |
108,385,000 |
|
Earnings Before Interest,
Taxes, Depreciation And Amortization (EBITDA) |
195,451,000 |
174,641,000 |
- |
- |
108,385,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
239,000,000 |
188,000,000 |
- |
- |
290,650,000 |
|
Total Liabilities |
642,389,000 |
576,560,000 |
605,147,000 |
558,789,000 |
527,861,000 |
|
Total Assets |
1,060,329,000 |
1,005,561,000 |
1,016,937,000 |
1,001,969,000 |
987,755,000 |
|
Net Assets |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
Net Assets Backing |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
Shareholders' Funds |
417,940,000 |
429,001,000 |
411,790,000 |
443,180,000 |
459,894,000 |
|
Total Share Capital |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
142,000,000 |
|
Total Reserves |
275,940,000 |
287,001,000 |
269,790,000 |
301,180,000 |
317,894,000 |
|
GROWTH RATIOS (Year on Year)
(%) |
|||||
|
Revenue |
3.70 |
(8.26) |
4.39 |
(3.46) |
(0.76) |
|
Proft/(Loss) Before Tax |
12.41 |
3.06 |
8.23 |
2.05 |
(18.92) |
|
Proft/(Loss) After Tax |
3.12 |
9.47 |
7.80 |
(3.04) |
(19.67) |
|
Total Assets |
5.45 |
(1.12) |
1.49 |
1.44 |
1.83 |
|
Total Liabilities |
11.42 |
(4.72) |
8.30 |
5.86 |
(11.11) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.04 |
0.06 |
- |
- |
0.24 |
|
Liquid Ratio |
0.44 |
0.44 |
- |
- |
0.80 |
|
Current Ratio |
0.50 |
0.50 |
0.64 |
0.69 |
0.88 |
|
WORKING CAPITAL CONTROL
(Days) |
|||||
|
Stock Ratio |
9 |
8 |
- |
- |
7 |
|
Debtors Ratio |
50 |
41 |
- |
- |
40 |
|
Creditors Ratio |
20 |
22 |
- |
- |
25 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.57 |
0.44 |
- |
- |
0.63 |
|
Liabilities Ratio |
1.54 |
1.34 |
1.47 |
1.26 |
1.15 |
|
Times Interest Earned Ratio |
0 |
0 |
- |
- |
8.84 |
|
Assets Backing Ratio |
2.94 |
3.02 |
2.90 |
3.12 |
3.24 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
17.54 |
16.18 |
14.40 |
13.89 |
13.14 |
|
Net Profit Margin |
14.26 |
14.34 |
12.02 |
11.64 |
11.59 |
|
Return On Net Assets |
29.43 |
25.51 |
25.78 |
22.14 |
23.57 |
|
Return On Capital Employed |
15.99 |
15.09 |
13.60 |
11.99 |
13.26 |
|
Return On Shareholders'
Funds/Equity |
23.94 |
22.61 |
21.52 |
18.55 |
18.44 |
|
Dividend Pay Out Ratio
(Times) |
1.05 |
0.83 |
- |
2.68 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
- |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.15 |
|
|
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
|
SGD |
1 |
INR 50.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.