MIRA INFORM REPORT

 

 

Report No. :

497166

Report Date :

13.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TOSOH ASIA PTE. LTD.

 

 

Formerly Known As :

TOSOH SINGAPORE PTE. LTD. (02/01/2008)

 

TOSOH FINE CHEMICALS PTE. LTD. (11/04/2002)

 

 

Registered Office :

63, Market Street, 10-03, Bank Of Singapore Centre, 048942

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

04.10.1997

 

 

Com. Reg. No.:

199706949G

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the wholesale of chemicals.

 

 

No. of Employees :

19 [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 :

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.

:

199706949G

COMPANY NAME

:

TOSOH ASIA PTE. LTD.

FORMER NAME

:

TOSOH SINGAPORE PTE. LTD. (02/01/2008)
TOSOH FINE CHEMICALS PTE. LTD. (11/04/2002)

INCORPORATION DATE

:

04/10/1997

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

63, MARKET STREET, 10-03, BANK OF SINGAPORE CENTRE, 048942, SINGAPORE.

BUSINESS ADDRESS

:

63 MARKET STREET, #10-03 BANK OF SINGAPORE CENTRE, 048942, SINGAPORE.

TEL.NO.

:

65-62265106

FAX.NO.

:

65-62265215

EMAIL

:

INFO.TSAS@TOSOH.COM

WEB SITE

:

WWW.TOSOHASIA.COM

CONTACT PERSON

:

MATSUMURA KOSABURO ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF CHEMICALS

ISSUED AND PAID UP CAPITAL

:

375,000.00 ORDINARY SHARE, OF A VALUE OF SGD 375,000.00 

SALES

:

USD 175,510,486 [2016]

NET WORTH

:

USD 11,285,667 [2016]

STAFF STRENGTH

:

19 [2018]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

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 chemicals.

 

The immediate and ultimate holding company of the Subject is TOSOH CORPORATION, a company incorporated in JAPAN.

 

Share Capital History

Date

Issue & Paid Up Capital

13/03/2018

SGD 375,000.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

TOSOH CORPORATION

SHIBA-KOEN FIRST BUILDING, 3-8-2, SHIBA MINATO-KU, TOKYO 105-8623 ,JAPAN

T03UF0350

375,000.00

100.00

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

------

375,000.00

100.00

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

=====

 

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

YAMADA MASAYUKI

Address

:

5-F-1508, NOKENDAI HIGASHI, KANAZAWA-KU, YOKOHAMA-SHI, KANAGAWA, JAPAN.

IC / PP No

:

TZ0754803

Nationality

:

JAPANESE

Date of Appointment

:

28/06/2012



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199706949G

TOSOH ASIA PTE. LTD.

Director

28/06/2012

0.00

-

USD2,065,138.00

2016

-

13/03/2018

 

DIRECTOR 2

 

Name Of Subject

:

KOMOTO YUTAKA

Address

:

5-3-4, MIDORIGAOKA, YACHIYO-SHI, CHIBA, JAPAN.

IC / PP No

:

TH8964471

Nationality

:

JAPANESE

Date of Appointment

:

01/10/2014



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199706949G

TOSOH ASIA PTE. LTD.

Director

01/10/2014

0.00

-

USD2,065,138.00

2016

-

13/03/2018

 

DIRECTOR 3

 

Name Of Subject

:

MASAO NAKANO

Address

:

ARAI 3-23-5-302, ICHIKAWA CITY, CHIBA, JAPAN.

Other Address(es)

:

13-17-2307, NAKAMARUKO NAKAHARA-KU, KAWASAKI, KANAGAWA 211-0012, JAPAN

IC / PP No

:

TR7938103

Nationality

:

JAPANESE

Date of Appointment

:

28/06/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

1131276M

TOSOH ADVANCED MATERIALS SDN. BHD.

Director

11/02/2015

0.00

-

MYR(6,193,070.00)

2016

-

23/02/2018

2

199706949G

TOSOH ASIA PTE. LTD.

Director

28/06/2017

0.00

-

USD2,065,138.00

2016

-

13/03/2018

 

DIRECTOR 4

 

Name Of Subject

:

JAN TOP

Address

:

100, ANZA VISTA AVENUE, SAN FRANCISCO, CA 94115, UNITED STATES.

IC / PP No

:

EC300388

Nationality

:

BELGIAN

Date of Appointment

:

31/05/2002



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

199706949G

TOSOH ASIA PTE. LTD.

Director

31/05/2002

0.00

-

USD2,065,138.00

2016

-

13/03/2018

 

DIRECTOR 5

 

Name Of Subject

:

MASAYUKI KUDO

Address

:

2, SUNNY HEIGHTS 201, HIGASHIKOMATSUGAWA, 4-27-15, EDOGAWA WARD, TOKYO, JAPAN.

IC / PP No

:

TK2170558

Nationality

:

JAPANESE

Date of Appointment

:

28/06/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199706949G

TOSOH ASIA PTE. LTD.

Director

28/06/2017

0.00

-

USD2,065,138.00

2016

-

13/03/2018

 

DIRECTOR 6

 

Name Of Subject

:

ARIFUMI OKADA

Address

:

29, KEPPEL BAY VIEW, 26-87, REFLECTIONS AT KEPPEL BAY, 098417, SINGAPORE.

IC / PP No

:

G3387376Q

Nationality

:

JAPANESE

Date of Appointment

:

28/06/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199706949G

TOSOH ASIA PTE. LTD.

Director

28/06/2017

0.00

-

USD2,065,138.00

2016

-

13/03/2018



MANAGEMENT

 

 

1)

Name of Subject

:

MATSUMURA KOSABURO

Position

:

MANAGING DIRECTOR

 

AUDITOR

 

Auditor

:

KPMG LLP

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

SIEW BOON HIM

IC / PP No

:

S2143789A

Address

:

7, MARYMOUNT TERRACE, 05-06, TRESALVEO, 573963, SINGAPORE.

 

BANKING


No Banker found in our databank. 

 

ENCUMBRANCE (S)


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

 

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

CRIMINAL RECORDS 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 criminal record was found in our databank.

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

No plaintiff record was found in our databank.

 

CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

No criminal record was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES



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

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

CHEMICALS

 

Total Number of Employees:

YEAR

2018

 

GROUP

N/A

COMPANY

19

 

Branch

:

NO

 

Other Information:


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

The Subject markets and sells a diverse range of chemicals and specialty products.

The products including:

Bioscience
Calcium Hypochlorite
Caustic Soda Pearl
Ethyleneamines
Fabricated Quartzware
Organic Intermediates
PETG Sheets
Polyurethanes
Polyurethane Catalysts
Sputtering Targets
Zeolites 

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62265106

Match

:

N/A

Address Provided by Client

:

63, MARKET STREET, #10-03, 048942 SINGAPORE

Current Address

:

63 MARKET STREET, #10-03 BANK OF SINGAPORE CENTRE, 048942, SINGAPORE.

Match

:

NO

 

Other Investigations


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

The address provided is incomplete.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

2011 - 2016

]

Profit/(Loss) Before Tax

:

Increased

[

2011 - 2016

]

Return on Shareholder Funds

:

Acceptable

[

18.30%

]

Return on Net Assets

:

Acceptable

[

21.47%

]

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 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

[

1 Days

]

Debtor Ratio

:

Unfavourable

[

80 Days

]

Creditors Ratio

:

Favourable

[

0 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. 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

[

1.34 Times

]

Current Ratio

:

Unfavourable

[

1.35 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

:

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 :

Generally, the Subject's performance has improved with higher turnover and profit. 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 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 : STRONG

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2013

2014

2015

2016

2017*

 

Population (Million)

5.40

5.47

5.54

5.61

5.61

Gross Domestic Products ( % )

5.1

3.9

2.2

2.4

3.6

Consumer Price Index

2.4

1.0

(0.5)

(0.5)

0.6

Total Imports (Million)

466,762.0

463,779.1

407,767.9

398,372.0

403,300.0

Total Exports (Million)

513,391.0

518,922.7

476,285.4

468,552.0

466,900.0

 

Unemployment Rate (%)

1.9

1.9

1.9

2.1

-

Tourist Arrival (Million)

15.46

15.01

15.23

16.28

-

Hotel Occupancy Rate (%)

86.3

85.5

84.0

83.1

84.7

Cellular Phone Subscriber (Million)

1.97

1.98

1.99

-

-

 

Registration of New Companies (No.)

37,288

41,589

34,243

35,227

37,395

Registration of New Companies (%)

9.8

11.5

(17.7)

2.9

6.2

Liquidation of Companies (No.)

17,369

18,767

21,384

23,218

22,379

Liquidation of Companies (%)

(5.3)

8.0

13.9

8.6

(3.6)

 

Registration of New Businesses (No.)

22,893

35,773

28,480

27,120

22,148

Registration of New Businesses (%)

1.70

56.30

(20.39)

(4.78)

(18.33)

Liquidation of Businesses (No.)

22,598

22,098

26,116

35,866

24,344

Liquidation of Businesses (%)

0.5

(2.2)

18.2

37.3

(32.1)

 

Bankruptcy Orders (No.)

1,992

1,757

1,776

1,797

1,638

Bankruptcy Orders (%)

14.0

(11.8)

1.0

1.2

(8.9)

Bankruptcy Discharges (No.)

2,584

3,546

3,499

4,359

2,030

Bankruptcy Discharges (%)

37.4

37.2

(1.3)

24.6

(53.4)

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

1.78

4.29

3.04

-

-

Fish Supply & Wholesale

(3.8)

(8.6)

(8.5)

(9.9)

-

 

Manufacturing #

Food, Beverages & Tobacco

97.9

99.4

100.0

103.7

110.3

Textiles

119.5

102.7

100.0

92.4

84.4

Wearing Apparel

334.1

212.6

100.0

83.4

88.2

Leather Products & Footwear

122.0

106.5

100.0

88.8

79.0

Wood & Wood Products

103.0

107.2

100.0

95.0

92.9

Paper & Paper Products

104.4

104.5

100.0

97.3

96.1

Printing & Media

113.8

105.968

100.0

85.1

73.1

Crude Oil Refineries

100.7

92.2

100.0

104.2

113.5

Chemical & Chemical Products

88.4

96.7

100.0

98.9

105.3

Pharmaceutical Products

101.421

109.4

100.0

113.8

96.0

Rubber & Plastic Products

109.497

109.2

100.0

91.4

93.7

Non-metallic Mineral

107.4

90.759

100.0

89.8

72.9

Basic Metals

77.2

99.3

100.0

106.2

108.3

Fabricated Metal Products

107.5

107.757

100.0

93.8

91.3

Machinery & Equipment

109.1

118.2

100.0

80.8

86.1

Electrical Machinery

87.4

97.871

100.0

101.5

111.7

Electronic Components

105.0

105.6

100.0

114.1

151.4

Transport Equipment

111.1

106.68

100.0

101.0

99.5

 

Construction

25.40

22.00

-

-

-

Real Estate

88.5

145.1

-

-

-

 

Services

Electricity, Gas & Water

6.70

6.50

-

-

-

Transport, Storage & Communication

9.80

14.20

-

-

-

Finance & Insurance

3.30

6.00

-

7.40

-

Government Services

6.50

6.30

-

-

-

Education Services

3.10

5.98

-

2.40

-

 

* Estimate / Preliminary

# Based on Index of Industrial Production (2015 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

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 1997, the Subject is a Private Limited company, focusing on wholesale of chemicals. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Presently, the issued and paid up capital of the Subject stands at SGD 375,000. 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 small company, the Subject's business operation is supported by 19 employees. 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. 

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. 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 11,285,667, 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. 

Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors. 

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.

TOSOH ASIA PTE. LTD.

 

Financial Year End

2016-12-31

2015-12-31

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

175,510,486

136,055,012

Other Income

44,833

25,953

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

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

Total Turnover

175,555,319

136,080,965

Costs of Goods Sold

(169,944,152)

(131,276,289)

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

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

Gross Profit

5,611,167

4,804,676

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

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

PROFIT/(LOSS) FROM OPERATIONS

2,423,308

1,894,422

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

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

PROFIT/(LOSS) BEFORE TAXATION

2,423,308

1,894,422

Taxation

(358,170)

(302,599)

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

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

PROFIT/(LOSS) AFTER TAXATION

2,065,138

1,591,823

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

8,996,715

7,404,892

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

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

As restated

8,996,715

7,404,892

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

11,061,853

8,996,715

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

11,061,853

8,996,715

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

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

INTEREST EXPENSE (as per notes to P&L)

DEPRECIATION (as per notes to P&L)

62,279

52,674

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

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

Total Amortization And Depreciation

62,279

52,674

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

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

 

 

 

 

BALANCE SHEET

 

TOSOH ASIA PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

79,300

98,256

LONG TERM INVESTMENTS/OTHER ASSETS

Others

8,754

8,754

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

8,754

8,754

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

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

TOTAL LONG TERM ASSETS

88,054

107,010

CURRENT ASSETS

Stocks

343,364

423,386

Trade debtors

38,407,895

28,096,790

Other debtors, deposits & prepayments

133,276

127,306

Amount due from holding company

14,654

45,086

Amount due from related companies

13,453

6,954

Cash & bank balances

3,870,315

5,157,805

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

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

TOTAL CURRENT ASSETS

42,782,957

33,857,327

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

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

TOTAL ASSET

42,871,011

33,964,337

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

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

CURRENT LIABILITIES

Trade creditors

18,220

-

Other creditors & accruals

232,877

253,831

Amounts owing to holding company

29,027,525

23,691,251

Amounts owing to related companies

1,945,991

488,726

Provision for taxation

360,731

310,000

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

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

TOTAL CURRENT LIABILITIES

31,585,344

24,743,808

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

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

NET CURRENT ASSETS/(LIABILITIES)

11,197,613

9,113,519

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

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

LONG TERM LIABILITIES

TOTAL NET ASSETS

11,285,667

9,220,529

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

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

SHARE CAPITAL

Ordinary share capital

223,814

223,814

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

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

TOTAL SHARE CAPITAL

223,814

223,814

RESERVES

Retained profit/(loss) carried forward

11,061,853

8,996,715

Others

-

0

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

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

TOTAL RESERVES

11,061,853

8,996,715

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

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

SHAREHOLDERS' FUNDS/EQUITY

11,285,667

9,220,529

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

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

 

 

 

 

FINANCIAL RATIO

 

TOSOH ASIA PTE. LTD.

 

TYPES OF FUNDS

Cash

3,870,315

5,157,805

Net Liquid Funds

3,870,315

5,157,805

Net Liquid Assets

10,854,249

8,690,133

Net Current Assets/(Liabilities)

11,197,613

9,113,519

Net Tangible Assets

11,285,667

9,220,529

Net Monetary Assets

10,854,249

8,690,133

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

2,423,308

1,894,422

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

2,485,587

1,947,096

BALANCE SHEET ITEMS

Total Liabilities

31,585,344

24,743,808

Total Assets

42,871,011

33,964,337

Net Assets

11,285,667

9,220,529

Net Assets Backing

11,285,667

9,220,529

Shareholders' Funds

11,285,667

9,220,529

Total Share Capital

223,814

223,814

Total Reserves

11,061,853

8,996,715

GROWTH RATIOS (Year on Year) (%)

Revenue

29.00

89.91

Proft/(Loss) Before Tax

27.92

129.13

Proft/(Loss) After Tax

29.73

121.12

Total Assets

26.22

96.93

Total Liabilities

27.65

181.59

LIQUIDITY (Times)

Cash Ratio

0.12

0.21

Liquid Ratio

1.34

1.35

Current Ratio

1.35

1.37

WORKING CAPITAL CONTROL (Days)

Stock Ratio

1

1

Debtors Ratio

80

75

Creditors Ratio

0

-

SOLVENCY RATIOS (Times)

Liabilities Ratio

2.80

2.68

Assets Backing Ratio

50.42

41.20

PERFORMANCE RATIO (%)

Operating Profit Margin

1.38

1.39

Net Profit Margin

1.18

1.17

Return On Net Assets

21.47

20.55

Return On Capital Employed

21.47

20.55

Return On Shareholders' Funds/Equity

18.30

17.26



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.02

UK Pound

1

INR 90.12

Euro

1

INR 80.09

SGD

1

INR 49.42

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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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.