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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

495465

Report Date :

01.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

EXTRON ELECTRONICS ASIA PTE. LTD.

 

 

Registered Office :

135, Joo Seng Road, 04-01, 368363

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

11.10.2011

 

 

Com. Reg. No.:

201130570-D

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the wholesale of electronic components.

 

 

No. of Employees :

60 [2017]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

201130570-D

COMPANY NAME

:

EXTRON ELECTRONICS ASIA PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

11/10/2011

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

135, JOO SENG ROAD, 04-01, 368363, SINGAPORE.

BUSINESS ADDRESS

:

135 JOO SANG ROAD 04-01, 368363, SINGAPORE.

TEL.NO.

:

65-63834400

FAX.NO.

:

65-63834664

WEB SITE

:

WWW.EXTRON.COM

CONTACT PERSON

:

LIM TIONG BENG ( DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF ELECTRONIC COMPONENTS

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF USD 100,000.00 

SALES

:

USD 45,778,838 [2016]

NET WORTH

:

USD 1,228,791 [2016]

STAFF STRENGTH

:

60 [2017]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

REGULAR

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) wholesale of electronic components.

 

The immediate and ultimate holding company of the Subject is RGB SYSTEMS, INC., a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

11/12/2017

USD 100,000.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

RGB SYSTEMS, INC.

1230, SOUTH LEWIS STREET, ANAHEIM, CALIFORNIA 92805 ,UNITED STATES

T11UF4209

100,000.00

100.00

---------------

------

100,000.00

100.00

============

=====

 

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

LIM TIONG BENG

Address

:

2, GUOK AVENUE, 119632, SINGAPORE.

IC / PP No

:

S1073678A

Nationality

:

SINGAPOREAN

Date of Appointment

:

11/10/2011



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200812961R

ALMENDRA PTE. LTD.

Director

14/02/2011

0.00

-

SGD(3,034,988.00)

2013

-

25/11/2014

2

201006128H

CCD (SINGAPORE) PTE. LTD.

Director

23/03/2010

0.00

-

USD(5,786,422.00)

2015

-

17/01/2017

3

T09FC0031A

DEEPOCEAN 1 UK LIMITED SINGAPORE BRANCH

Secretary

26/03/2009

0.00

-

SGD133,962.00

2011

-

29/03/2013

4

199707495K

DINOWIC PTE LTD

Director

05/02/2010

0.00

-

USD1,744,297.00

2015

-

21/02/2017

5

201130570D

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

11/10/2011

0.00

-

USD27,804.00

2016

-

11/12/2017

6

995372U

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

18/05/2012

0.00

-

MYR(125,803.00)

2016

-

27/11/2017

7

200102787N

FASTENAL SINGAPORE PTE LTD

Director

18/06/2001

0.00

-

SGD1,743,325.00

2015

-

30/12/2016

8

993981D

FEI COMPANY OF USA (S.E.A) PTE LTD

Director

24/02/2006

0.00

-

MYR45,167.00

2015

-

27/11/2017

9

199905328N

FEI COMPANY OF USA (S.E.A.) PTE LTD

Director

24/02/2006

0.00

-

SGD922,675.00

2014

-

08/07/2016

10

S87FC3728J

FLUOR DANIEL ENGINEERS & CONSTRUCTORS, LTD.

Secretary

05/11/2004

0.00

-

SGD3,623,064.00

2013

-

18/06/2015

11

201215854N

INFRATECH INDUSTRIES PTE. LTD.

Director

27/06/2012

0.00

-

-

-

-

13/04/2015

12

200706745H

JBF GLOBAL PTE. LTD.

Director

20/04/2007

0.00

-

USD(11,682,569.00)

2015

-

14/12/2015

13

201435082W

JBF TRADE INVEST PTE. LTD.

Director

25/11/2014

0.00

-

USD(3,966.00)

2015

-

16/12/2015

14

201330186K

JSW INTERNATIONAL TRADECORP PTE. LTD.

Director

08/11/2013

0.00

-

USD11,857,351.00

2017

-

05/12/2017

15

200800596Z

MAGOTTEAUX SINGAPORE PRIVATE LIMITED

Director

08/01/2008

0.00

-

USD205,660.00

2016

-

05/10/2017

16

201323434Z

NEW WORLD FASHION PTE. LTD.

Director

30/08/2013

0.00

-

-

-

-

04/10/2017

17

995449K

SOUTHEAST ASIAN EXPLORATION PTE. LTD.

Director

07/06/2013

0.00

-

-

-

-

27/11/2017

18

201431331C

SPORT RETAIL GROUP PTE. LTD.

Director

20/10/2014

0.00

-

USD83,971,000.00

2015

-

17/10/2016

19

199000987M

TOSHIBA ELECTRONICS ASIA (SINGAPORE) PTE. LTD.

Secretary

01/01/2005

0.00

-

USD34,665,000.00

2016

-

08/07/2016

 

DIRECTOR 2

 

Name Of Subject

:

EDWARD JAMES ELLINGWOOD

Address

:

10242, ARUNDEL AVE, WESTMINSTER, CALIFORNIA, UNITED STATES.

Other Address(es)

:

10242 ARUNDEL AVE, WESTMINSTER, CALIFORNIA, USA

IC / PP No

:

475707795

Nationality

:

AMERICAN

Date of Appointment

:

11/10/2011



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

201130570D

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

11/10/2011

0.00

-

USD27,804.00

2016

-

11/12/2017

2

995372U

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

18/05/2012

0.00

-

MYR(125,803.00)

2016

-

27/11/2017

 

DIRECTOR 3

 

Name Of Subject

:

KIMANH LE BACH

Address

:

19382, BAYWATER LANE, HUNTINGTON BEACH, CA 92646, UNITED STATES.

Other Address(es)

:

19382 BAYWATER LANE, HUNTINGTON BEACH, CA 92646, USA

IC / PP No

:

470000326

Nationality

:

AMERICAN

Date of Appointment

:

11/10/2011



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

201130570D

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

11/10/2011

0.00

-

USD27,804.00

2016

-

11/12/2017

2

995372U

EXTRON ELECTRONICS ASIA PTE. LTD.

Director

18/05/2012

0.00

-

MYR(125,803.00)

2016

-

27/11/2017



MANAGEMENT

 

 

1)

Name of Subject

:

LIM TIONG BENG

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

BAKER TILLY TFW LLP

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHAN CHOW PHENG

IC / PP No

:

S1298885J

Address

:

112, ROBINSON ROAD, 05-01, ROBINSON 112, 068902, SINGAPORE.

 

BANKING


No Banker found in our databank. 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

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



The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Goods Traded

:

ELECTRONIC COMPONENTS

 

Total Number of Employees:

YEAR

2017

 

GROUP

N/A

COMPANY

60

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of electronic components. 

The Subject sells AV system integration products including computer-video interfaces, switchers, matrix switchers, system controllers, distribution amplifiers, audio products, speakers, video scalers, scan converters, signal processing devices, Ethernet control interfaces and others. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6563834400

Current Telephone Number

:

65-63834400

Match

:

YES

Address Provided by Client

:

135, JOO SENG ROAD #04-01 SINGAPORE - 368363

Current Address

:

135 JOO SANG ROAD 04-01, 368363, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

2014 - 2016

]

Profit/(Loss) Before Tax

:

Decreased

[

2014 - 2016

]

Return on Shareholder Funds

:

Unfavourable

[

2.26%

]

Return on Net Assets

:

Unfavourable

[

2.11%

]

The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The Subject's profit fell sharply because of the high operating costs incurred. The unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Acceptable

[

60 Days

]

Debtor Ratio

:

Acceptable

[

61 Days

]

Creditors Ratio

:

Favourable

[

2 Days

]

The Subject kept adequate stocks to meet its normal business transactions without incurring excessive storage costs. The Subject's management was quite efficient in handling its debtors. The Subject's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. 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

[

0.60 Times

]

Current Ratio

:

Unfavourable

[

1.11 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

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

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. 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 was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : LIMITED

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2012

2013

2014

2015

2016*

 

Population (Million)

5.31

5.40

5.47

5.54

5.63

Gross Domestic Products ( % )

1.3

3.7

(3.5)

3.7

4.8

Consumer Price Index

4.6

2.4

2.4

(0.5)

(0.7)

Total Imports (Million)

474,554.0

466,762.0

463,779.1

407,767.9

398,372.0

Total Exports (Million)

510,329.0

513,391.0

518,922.7

476,285.4

468,552.0

 

Unemployment Rate (%)

2.0

1.9

1.9

1.9

2.1

Tourist Arrival (Million)

14.49

15.46

15.01

15.23

16.28

Hotel Occupancy Rate (%)

86.4

86.3

85.5

85.0

-

Cellular Phone Subscriber (Million)

1.52

1.97

1.98

1.99

-

 

Registration of New Companies (No.)

31,892

37,288

41,589

34,243

35,528

Registration of New Companies (%)

(1.3)

9.8

11.5

(17.7)

3.8

Liquidation of Companies (No.)

17,218

17,369

18,767

21,384

-

Liquidation of Companies (%)

9.4

(5.3)

8.0

13.9

-

 

Registration of New Businesses (No.)

24,788

22,893

35,773

28,480

33,326

Registration of New Businesses (%)

5.51

1.70

56.30

(20.39)

17.02

Liquidation of Businesses (No.)

22,489

22,598

22,098

26,116

-

Liquidation of Businesses (%)

(2.2)

0.5

(2.2)

18.2

-

 

Bankruptcy Orders (No.)

1,748

1,992

1,757

1,776

-

Bankruptcy Orders (%)

14.5

14.0

(11.8)

1.0

-

Bankruptcy Discharges (No.)

1,881

2,584

3,546

3,499

-

Bankruptcy Discharges (%)

35.2

37.4

37.2

(1.3)

-

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

5.16

1.78

4.29

3.04

-

Fish Supply & Wholesale

(0.5)

(3.8)

(8.6)

(8.5)

(9.9)

 

Manufacturing #

Food, Beverages & Tobacco

97.9

97.9

99.4

100.0

103.7

Textiles

140.1

119.5

102.7

100.0

93.3

Wearing Apparel

395.4

334.1

212.6

100.0

80.3

Leather Products & Footwear

109.5

122.0

106.5

100.0

93.2

Wood & Wood Products

93.3

103.0

107.2

100.0

90.5

Paper & Paper Products

98.5

104.4

104.5

100.0

99.7

Printing & Media

122.8

113.8

105.968

100.0

86.9

Crude Oil Refineries

107.1

100.7

92.2

100.0

100.5

Chemical & Chemical Products

85.3

88.4

96.7

100.0

97.6

Pharmaceutical Products

103.8

101.421

109.4

100.0

115.9

Rubber & Plastic Products

113.5

109.497

109.2

100.0

87.9

Non-metallic Mineral

108.8

107.4

90.759

100.0

93.6

Basic Metals

91.5

77.2

99.3

100.0

113.1

Fabricated Metal Products

107.314

107.5

107.757

100.0

91.7

Machinery & Equipment

107.3

109.1

118.2

100.0

79.3

Electrical Machinery

80.102

87.4

97.871

100.0

99.3

Electronic Components

100.7

105.0

105.6

100.0

106.3

Transport Equipment

109.9

111.1

106.68

100.0

98.7

 

Construction

28.70

25.40

22.00

-

-

Real Estate

31.9

88.5

145.1

-

-

 

Services

Electricity, Gas & Water

6.30

6.70

6.50

-

-

Transport, Storage & Communication

5.30

9.80

14.20

-

-

Finance & Insurance

0.50

3.30

6.00

-

-

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 2011, the Subject is a Private Limited company, focusing on wholesale of electronic components. 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. Presently, the issued and paid up capital of the Subject stands at USD 100,000. However, with a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise. 

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a moderate size company, the Subject has a total workforce of 60 employees in its business operations. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 1,228,791, the Subject should be able to maintain its business in the near terms. 

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts. 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry. 

Based on the above condition, we recommend credit be granted to the Subject promptly.



PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

EXTRON ELECTRONICS ASIA PTE. LTD.

 

Financial Year End

2016-12-31

2015-12-31

2014-12-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

45,778,838

44,868,463

39,978,053

Other Income

81,932

50,255

42,554

----------------

----------------

----------------

Total Turnover

45,860,770

44,918,718

40,020,607

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

33,499

1,860,053

890,340

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

33,499

1,860,053

890,340

Taxation

(5,695)

(103,694)

(1,616)

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

27,804

1,756,359

888,724

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,100,987

(655,372)

(1,544,096)

----------------

----------------

----------------

As restated

1,100,987

(655,372)

(1,544,096)

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

1,128,791

1,100,987

(655,372)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,128,791

1,100,987

(655,372)

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

DEPRECIATION (as per notes to P&L)

41,535

62,803

54,486

----------------

----------------

----------------

Total Amortization And Depreciation

41,535

62,803

54,486

=============

=============

=============

 

 

 

 

 

BALANCE SHEET

 

EXTRON ELECTRONICS ASIA PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

46,960

54,881

99,885

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

46,960

54,881

99,885

Stocks

7,467,490

6,417,121

4,444,200

Trade debtors

7,632,223

5,966,214

6,039,115

Other debtors, deposits & prepayments

418,307

396,210

443,063

Amount due from holding company

203,586

174,412

-

Cash & bank balances

454,999

813,337

590,160

Others

-

-

155,088

----------------

----------------

----------------

TOTAL CURRENT ASSETS

16,176,605

13,767,294

11,671,626

----------------

----------------

----------------

TOTAL ASSET

16,223,565

13,822,175

11,771,511

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

276,229

240,884

431,823

Other creditors & accruals

390,661

276,973

825,198

Amounts owing to holding company

13,600,843

11,519,084

5,393,728

Provision for taxation

19,877

113,007

-

Other liabilities

350,554

252,095

5,539,762

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

14,638,164

12,402,043

12,190,511

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

1,538,441

1,365,251

(518,885)

----------------

----------------

----------------

TOTAL NET ASSETS

1,585,401

1,420,132

(419,000)

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

100,000

100,000

100,000

----------------

----------------

----------------

TOTAL SHARE CAPITAL

100,000

100,000

100,000

Retained profit/(loss) carried forward

1,128,791

1,100,987

(655,372)

Others

-

0

0

----------------

----------------

----------------

TOTAL RESERVES

1,128,791

1,100,987

(655,372)

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,228,791

1,200,987

(555,372)

Others

356,610

219,145

136,372

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

356,610

219,145

136,372

----------------

----------------

----------------

1,585,401

1,420,132

(419,000)

=============

=============

=============

 

 

 

 

 

FINANCIAL RATIO

 

EXTRON ELECTRONICS ASIA PTE. LTD.

 

TYPES OF FUNDS

Cash

454,999

813,337

590,160

Net Liquid Funds

454,999

813,337

590,160

Net Liquid Assets

(5,929,049)

(5,051,870)

(4,963,085)

Net Current Assets/(Liabilities)

1,538,441

1,365,251

(518,885)

Net Tangible Assets

1,585,401

1,420,132

(419,000)

Net Monetary Assets

(6,285,659)

(5,271,015)

(5,099,457)

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

0

1,860,053

890,340

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

75,034

1,922,856

944,826

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

Total Liabilities

14,994,774

12,621,188

12,326,883

Total Assets

16,223,565

13,822,175

11,771,511

Net Assets

1,585,401

1,420,132

(419,000)

Net Assets Backing

1,228,791

1,200,987

(555,372)

Shareholders' Funds

1,228,791

1,200,987

(555,372)

Total Share Capital

100,000

100,000

100,000

Total Reserves

1,128,791

1,100,987

(655,372)

GROWTH RATIOS (Year on Year)

Revenue

2.03

12.23

-

Proft/(Loss) Before Tax

(98.20)

108.91

-

Proft/(Loss) After Tax

(98.42)

97.63

-

Total Assets

17.37

17.42

-

Total Liabilities

18.81

2.39

-

LIQUIDITY (Times)

Cash Ratio

0.03

0.07

0.05

Liquid Ratio

0.59

0.59

0.59

Current Ratio

1.11

1.11

0.96

WORKING CAPITAL CONTROL (Days)

Stock Ratio

60

52

41

Debtors Ratio

61

49

55

Creditors Ratio

2

2

4

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

Liabilities Ratio

12.20

10.51

(22.20)

Times Interest Earned Ratio

0

0

0

Assets Backing Ratio

15.85

14.20

(4.19)

PERFORMANCE RATIO (%)

Operating Profit Margin

0.07

4.15

2.23

Net Profit Margin

0.06

3.91

2.22

Return On Net Assets

2.11

130.98

(212.49)

Return On Capital Employed

2.11

130.98

(212.49)

Return On Shareholders' Funds/Equity

2.26

146.24

(160.02)

Dividend Pay Out Ratio (Times)

0

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0




 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.10

UK Pound

1

INR 94.44

Euro

1

INR 79.59

SGD

1

INR 49.18

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

KET

 

 

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)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.