|
|
|
MIRA INFORM REPORT
|
Report No. : |
496973 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIZER METALS PTE.
LTD. |
|
|
|
|
Registered Office : |
6, Eu Tong Sen Street, 10-03,The Central,
059817 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
09.06.2009 |
|
|
|
|
Com. Reg. No.: |
200910378H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the trading of metals. |
|
|
|
|
No. of Employees : |
2 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. |
: |
200910378H |
||||
|
COMPANY NAME |
: |
SIZER METALS PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
09/06/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
6, EU TONG SEN STREET, 10-03,THE CENTRAL,
059817, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
6, EU TONG SEN STREET, # 10-03, THE CENTRAL
SOHO 1, 059817, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62241786 |
||||
|
FAX.NO. |
: |
65-62241787 |
||||
|
EMAIL |
: |
INFO@SIZERMETALS.COM |
||||
|
WEB SITE |
: |
WWW.SIZERMETALS.COM |
||||
|
CONTACT PERSON |
: |
TAMBAWALA ABIZER SHABBIR ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF METALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
27,000.00 ORDINARY SHARE, OF A VALUE OF SGD
27,000.00 |
||||
|
SALES |
: |
USD 65,806,831 [2017] |
||||
|
NET WORTH |
: |
USD 3,152,674 [2017] |
||||
|
STAFF STRENGTH |
: |
2 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The subject is principally engaged in the (as
a / as an) trading of metals.
The immediate and ultimate holding company of
the Subject is SIZER METALS PRIVATE LIMITED, a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
23/01/2018 |
SGD 27,000.00 & USD 1,190,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TAMBAWALA ABIZER SHABBIR + |
6, EU TONG SEN STREET, 10-03, THE CENTRAL, 05981,
SINGAPORE. |
G5163506Q |
280,001.00 |
21.76 |
|
SIZER METALS PRIVATE LIMITED |
15/17, YAQOOB STREET, MOHAMMEDI MANZIL,
NEAR J.J. HOSPITAL, MUMBAI 400003 ,INDIA |
T10UF0640 |
1,006,999.00 |
78.24 |
|
--------------- |
------ |
|||
|
1,287,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
200910378H |
SINGAPORE |
SIZER METALS PTE. LTD. |
- |
5.51 |
08/07/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MEHTA DIVYEN PRAKASH |
|
Address |
: |
51A, JALAN LOYANG BESAR, 509374, SINGAPORE. |
|
Other Address(es) |
: |
761, PASIR RIS STREET 71, 06-216, 510761,
SINGAPORE. |
|
IC / PP No |
: |
S2765837G |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
01/09/2013 |
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 |
201303371G |
CREDERA GLOBAL (SINGAPORE) PTE. LTD. |
Director |
01/09/2016 |
0.00 |
- |
USD64,387.00 |
2016 |
- |
11/10/2016 |
|
2 |
200910378H |
SIZER METALS PTE. LTD. |
Director |
01/09/2013 |
0.00 |
- |
USD527,163.00 |
2017 |
- |
23/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
TAMBAWALA ABIZER SHABBIR |
|
Address |
: |
6, EU TONG SEN STREET, 10-03, THE CENTRAL,
05981, SINGAPORE. |
|
Other Address(es) |
: |
10, KITCHENER LINK, 04-19, CITY SQUARE RESIDENCES,
207225, SINGAPORE. |
|
IC / PP No |
: |
G5163506Q |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
09/06/2009 |
|
Remark |
: |
USD-280,000.00 & SGD-1.00 |
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 |
200910378H |
SIZER METALS PTE. LTD. |
Director |
09/06/2009 |
280,001.00 |
21.76 |
USD527,163.00 |
2017 |
- |
23/01/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAMBAWALA ABIZER SHABBIR |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
AAA ASSURANCE PAC |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
LORRAINE LEE LAY CHING |
|
IC / PP No |
: |
S1794045G |
|
|
Address |
: |
251, KIM KEAT LINK, 08-117, 310251,
SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CITIBANK N.A. |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201600774 |
18/01/2016 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201605224 |
25/05/2016 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201708614 |
24/08/2017 |
N/A |
STANDARD CHARTERED BANK (SINGAPORE) |
- |
Unsatisfied |
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
METALS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
2 |
1 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of metals.
The Subject is engaged in trading, stocking and distribution of all kinds of
non-ferrous metals, ferro-alloys and minor metals.
The Subject supplies metals by offering a competitive price advantage to
customers and traders across diverse industry sectors.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
65 62241086 |
|
Current Telephone Number |
: |
65-62241786 |
|
Match |
: |
NO |
|
Address Provided by Client |
: |
6 EU TONG SEN STREET, # 10-03 THE CENTRAL
SOMO 1 059817 |
|
Current Address |
: |
6, EU TONG SEN STREET, # 10-03, THE CENTRAL
SOHO 1, 059817, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The contact number provided is not answered.
The address is as per stated in the report.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
16.72% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.52% |
] |
|
|
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 |
[ |
5 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
22 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
2 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 |
[ |
1.29 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.42 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 |
: |
Acceptable |
[ |
3.29 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.07 Times |
] |
|
|
The Subject's interest cover was slightly
low. If there is no sharp fall in its profit or sudden increase in the interest
rates, we believe the Subject is able to generate sufficient income to
service its interest and repay the loans. The Subject was highly geared, thus
it had a high financial risk. The Subject was dependent on loans to finance
its business needs. In times of economic downturn and / or high interest
rate, the Subject will become less profitable and competitive than other
firms in the same industry, which are lowly geared. This is because the
Subject has to service the interest and to repay the loan, which will erode
part of its profits. The profits will fluctuate depending on the Subject's
turnover and the interest it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
Although the 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. The Subject had an acceptable
interest cover. If there is no sudden sharp increase in interest rate or fall
in the Subject's profit, we do believe the Subject is able to generate
sufficient cash flow to service its interest payment. The Subject's gearing
level was high and its going concern will be in doubt if there is no
injection of additional shareholders' funds in times of economic downturn and
/ or high interest rates. |
||||||
|
Overall financial condition of the Subject
: FAIR |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population (Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood & Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper & Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing & Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical & Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber & Plastic Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery & Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport, Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance & Insurance |
0.50 |
3.30 |
6.00 |
- |
7.40 |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production
(2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale & retail trade sector
expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in
the preceding quarter. Growth was supported by both the wholesale trade and retail
trade segments. The wholesale trade segment was boosted by an increase in
both domestic and foreign wholesale trade sales volume. In particular, the
domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in
the previous quarter. The strong performance in domestic wholesale trade was
due to a surge in the sales of petroleum and petroleum products (14%),
chemicals & chemical products (39%) and telecommunications &
computers (18%). |
|
|
Similarly, the foreign wholesale trade
index rose by 10% in the third quarter of 2015, accelerating from the 6.9%
rise in the previous quarter. Growth was driven by improvements in the sales
of petroleum & petroleum products (21%), metals, timber &
construction materials (10%) and general wholesale trade (8.8%). |
|
|
Overall retail trade sales volume also
recorded resilient growth of 5.6% in the third quarter of 2015, extending the
6.4 % expansion in the second quarter. Growth was supported by a surge in the
volume of motor vehicle sales (44%), which was in turn due to a substantial
increase in the supply of Certificate of Entitlements. Excluding motor
vehicles, retail sales volume increased at a much slower pace of 0.7% over
the same period. The increase in retail sales volume (excluding motor vehicles)
was due to improved non-discretionary goods sales. For instance, the sales of
medical goods & toiletries and department store goods rose by 8.1% and
3.6% respectively. |
|
|
According to the Retail News Asia, Food and
beverage has overtaken fashion as the primary driver of demand for retail
real estate in Singapore. Despite declining retail sales and consumer
spending, the prime retail sector remained in good shape during the third
quarter 2015. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
SIZER METALS PTE. LTD. |
|
Financial Year End |
2017-03-31 |
2016-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
65,806,831 |
69,330,759 |
|
Other Income |
35,925 |
19,058 |
|
---------------- |
---------------- |
|
|
Total Turnover |
65,842,756 |
69,349,817 |
|
Costs of Goods Sold |
(64,381,445) |
(68,088,742) |
|
---------------- |
---------------- |
|
|
Gross Profit |
1,461,311 |
1,261,075 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
603,869 |
558,317 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
603,869 |
558,317 |
|
Taxation |
(76,706) |
(61,805) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
527,163 |
496,512 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
2,046,206 |
1,549,694 |
|
---------------- |
---------------- |
|
|
As restated |
2,046,206 |
1,549,694 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,573,369 |
2,046,206 |
|
CAPITALISATION FOR BONUS ISSUES |
(630,000) |
- |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,943,369 |
2,046,206 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Term loan / Borrowing |
54,305 |
37,049 |
|
Others |
209,319 |
187,119 |
|
---------------- |
---------------- |
|
|
263,624 |
224,168 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
SIZER METALS PTE. LTD. |
|
---------------- |
---------------- |
|
|
CURRENT ASSETS |
||
|
Stocks |
971,172 |
2,004,126 |
|
Trade debtors |
4,010,959 |
5,982,092 |
|
Other debtors, deposits & prepayments |
5,018,564 |
2,100,749 |
|
Amount due from holding company |
- |
370,244 |
|
Cash & bank balances |
634,970 |
213,788 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
10,635,665 |
10,670,999 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
10,635,665 |
10,670,999 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
436,000 |
2,304,256 |
|
Other creditors & accruals |
37,092 |
38,478 |
|
Short term borrowings/Term loans |
3,085,000 |
1,985,000 |
|
Other borrowings |
3,441,125 |
3,398,889 |
|
Deposits from customers |
179,644 |
330,966 |
|
Amounts owing to holding company |
53,491 |
- |
|
Amounts owing to director |
178,186 |
- |
|
Provision for taxation |
72,453 |
57,899 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
7,482,991 |
8,115,488 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,152,674 |
2,555,511 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,152,674 |
2,555,511 |
|
============= |
============= |
|
|
FINANCED BY: |
||
|
SHARE CAPITAL |
||
|
Ordinary share capital |
1,209,305 |
509,305 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,209,305 |
509,305 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
1,943,369 |
2,046,206 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,943,369 |
2,046,206 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,152,674 |
2,555,511 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
SIZER METALS PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
634,970 |
213,788 |
|
Net Liquid Funds |
634,970 |
213,788 |
|
Net Liquid Assets |
2,181,502 |
551,385 |
|
Net Current Assets/(Liabilities) |
3,152,674 |
2,555,511 |
|
Net Tangible Assets |
3,152,674 |
2,555,511 |
|
Net Monetary Assets |
2,181,502 |
551,385 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
867,493 |
782,485 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
867,493 |
782,485 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
6,526,125 |
5,383,889 |
|
Total Liabilities |
7,482,991 |
8,115,488 |
|
Total Assets |
10,635,665 |
10,670,999 |
|
Net Assets |
3,152,674 |
2,555,511 |
|
Net Assets Backing |
3,152,674 |
2,555,511 |
|
Shareholders' Funds |
3,152,674 |
2,555,511 |
|
Total Share Capital |
1,209,305 |
509,305 |
|
Total Reserves |
1,943,369 |
2,046,206 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
(5.08) |
20.73 |
|
Proft/(Loss) Before Tax |
8.16 |
31.71 |
|
Proft/(Loss) After Tax |
6.17 |
27.81 |
|
Total Assets |
(0.33) |
72.08 |
|
Total Liabilities |
(7.79) |
61.25 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.08 |
0.03 |
|
Liquid Ratio |
1.29 |
1.07 |
|
Current Ratio |
1.42 |
1.31 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
5 |
11 |
|
Debtors Ratio |
22 |
31 |
|
Creditors Ratio |
2 |
12 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
2.07 |
2.11 |
|
Liabilities Ratio |
2.37 |
3.18 |
|
Times Interest Earned Ratio |
3.29 |
3.49 |
|
Assets Backing Ratio |
2.61 |
5.02 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
0.92 |
0.81 |
|
Net Profit Margin |
0.80 |
0.72 |
|
Return On Net Assets |
27.52 |
30.62 |
|
Return On Capital Employed |
27.52 |
30.62 |
|
Return On Shareholders' Funds/Equity |
16.72 |
19.43 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
|
SGD |
1 |
INR 49.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
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.