|
|
|
MIRA INFORM REPORT
|
Report No. : |
498533 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BOROUGE PTE. LTD. |
|
|
|
|
Registered Office : |
2, Shenton Way, 18-01, Sgx Centre I, 068804 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
09.04.1998 |
|
|
|
|
Com. Reg. No.: |
199801755-H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in trading of plastic raw materials,
polyolefins. |
|
|
|
|
No. of Employees : |
200 |
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 2014-16 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. |
: |
199801755-H |
|
COMPANY NAME |
: |
BOROUGE PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
09/04/1998 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
2, SHENTON WAY, 18-01, SGX CENTRE I, 068804, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1, GEORGE STREET, 18-01, 049145, SINGAPORE. |
|
TEL.NO. |
: |
65-62754100 |
|
FAX.NO. |
: |
65-63771233 |
|
EMAIL |
: |
INFO@BOROUGE.COM |
|
WEB SITE |
: |
WWW.BOROUGE.COM |
|
CONTACT PERSON |
: |
ABDULAZIZ ABDULLA ISMAIL MOHAMED ALHAJRI ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PLASTIC RAW MATERIALS, POLYOLEFINS |
|
ISSUED AND PAID UP CAPITAL |
: |
5,500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 5,500,000.00 |
|
SALES |
: |
USD 4,593,522,072 [2016] |
|
NET WORTH |
: |
USD 101,119,817 [2016] |
|
STAFF STRENGTH |
: |
200 [2017] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
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) trading
of plastic raw materials, polyolefins.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
10/11/2017 |
SGD 5,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ABU DHABI NATIONAL OIL COMPANY |
P O BOX 898, ABU DHABI UNITED ARAB EMIRATES |
T04UF0284 |
2,750,000.00 |
50.00 |
|
BOREALIS AG |
WAGRAMERSTRASSE, 17-19, VIENNA 1220 ,AUSTRIA |
T11UF1228 |
2,750,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
5,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
BOROUGE (INDIA) PVT LTD |
- |
100.00 |
31/12/2016 |
|
|
AUSTRALIA |
BOROUGE AUSTRALIA PTY LTD |
- |
100.00 |
31/12/2015 |
|
|
200821012N |
SINGAPORE |
BOROUGE COMPOUNDING HOLDING PTE. LTD. |
- |
100.00 |
26/04/2017 |
|
HONG KONG |
BOROUGE HONG KONG LIMITED |
- |
100.00 |
31/12/2016 |
|
|
NEW ZEALAND |
BOROUGE NZ LIMITED |
- |
100.00 |
31/12/2015 |
|
|
CHINA |
BOROUGE SALES AND MARKETING (GUANGZHOU) CO. LTD |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
BOROUGE SALES AND MARKETING (SHANGHAI) CO. LTD |
- |
100.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ABDULAZIZ ABDULLA ISMAIL MOHAMED ALHAJRI |
|
Address |
: |
AL REEM ISLAND, 17, AL REEM C11, TOWER 1, FLAT 6106, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
R86685572 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MOHAMED SALEM MOHAMED MUNAKHS AL MUHAIRBI |
|
Address |
: |
VILLA 460, AL KHALEEJ AL ARABI STREET, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
A2260226 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
21/05/2008 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
21/05/2008 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
MICHAEL KROMAN BJORN |
|
Address |
: |
SAADIYAT BEACH VILLAS 2, VILLA 181, PO BOX 48313, ABU DHABI,
UNITED ARAB EMIRATES. |
|
Other Address(es) |
: |
SAADIYAT BEACH VILLAS 2, VILLA 181, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
206614894 |
|
Nationality |
: |
DANE |
|
Date of Appointment |
: |
01/09/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
01/09/2014 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
KATJA TAUTSCHER |
|
Address |
: |
WEIMARER STRASSE 24/7, 1180, VIENNA, AUSTRIA. |
|
IC / PP No |
: |
P 2501306 |
|
Nationality |
: |
AUSTRIAN |
|
Date of Appointment |
: |
23/09/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
23/09/2013 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 5
|
Name Of Subject |
: |
HESHAM ABDULLA ABBAS AHMED ALEMADI |
|
Address |
: |
VILLA 1/24, AL FALAH STREET, ABU DHABI, UNITED ARAB EMIRATES. |
|
IC / PP No |
: |
JK5J84372 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
25/07/2007 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
25/07/2007 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 6
|
Name Of Subject |
: |
HERBERT WILLERTH |
|
Address |
: |
KELLERGASSE 2, 2326 LANZENDORF, AUSTRIA. |
|
IC / PP No |
: |
P8049176 |
|
Nationality |
: |
AUSTRIAN |
|
Date of Appointment |
: |
20/04/2011 |
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 |
199801755H |
BOROUGE PTE. LTD. |
Director |
20/04/2011 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 7
|
Name Of Subject |
: |
ALFRED STERN |
|
Address |
: |
FRANZ JONAS-STRASSE 24, A-2000, STOCKERAU, AUSTRIA. |
|
IC / PP No |
: |
P 7584565 |
|
Nationality |
: |
AUSTRIAN |
|
Date of Appointment |
: |
01/07/2012 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
01/07/2012 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 8
|
Name Of Subject |
: |
SALEM HAREB SALEM KHALIFA ALMHEIRI |
|
Address |
: |
W17, 03, PLOT 23, AL SHANAYEL Y VILLA 7, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
GL6423148 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
DIRECTOR 9
|
Name Of Subject |
: |
SANDRA SEAH GEK HUANG |
|
Address |
: |
143, SERANGOON AVENUE 3, 06-08, THE SPRINGBLOOM, 556121,
SINGAPORE. |
|
IC / PP No |
: |
S7136473I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
13/12/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Secretary Director |
05/10/2016 13/12/2016 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
|
2 |
199705372E |
BYSTRONIC ASIA PTE LTD |
Secretary |
01/06/2016 |
0.00 |
- |
SGD513,810.00 |
2015 |
- |
08/07/2016 |
|
3 |
199905019H |
CICOR ASIA PTE. LTD. |
Secretary |
15/05/2008 |
0.00 |
- |
SGD(359,380.00) |
2016 |
- |
26/07/2017 |
|
4 |
200504186D |
FUGRO MARINE SERVICES PTE. LTD. |
Secretary |
14/02/2014 |
0.00 |
- |
SGD61,062.00 |
2015 |
- |
12/05/2017 |
|
5 |
198801863H |
II-VI SINGAPORE PTE LTD |
Secretary |
30/06/2016 |
0.00 |
- |
USD31,108,706.00 |
2016 |
- |
18/04/2017 |
|
6 |
200101166N |
JUNGHEINRICH LIFT TRUCK SINGAPORE PTE LTD |
Secretary |
01/05/2004 |
0.00 |
- |
SGD1,665,822.00 |
2015 |
- |
09/11/2016 |
|
7 |
198303078N |
METSO ASIA PACIFIC PTE. LTD. |
Secretary |
30/04/2016 |
0.00 |
- |
SGD5,513,000.00 |
2015 |
- |
18/04/2017 |
|
8 |
198801539M |
ORACLE CORPORATION SINGAPORE PTE LTD |
Secretary |
01/03/2016 |
0.00 |
- |
SGD(9,524,086.00) |
2016 |
- |
18/07/2017 |
|
9 |
200615588C |
PFIZER ASIA MANUFACTURING PTE. LTD. |
Secretary |
30/04/2016 |
0.00 |
- |
USD512,324,000.00 |
2016 |
- |
27/10/2017 |
|
10 |
200311819K |
TERADYNE (ASIA) PTE. LTD. |
Secretary |
20/11/2003 |
0.00 |
- |
USD197,853,000.00 |
2015 |
- |
15/11/2016 |
DIRECTOR 10
|
Name Of Subject |
: |
AHMED KHALFAN SALEM MUFTAH ALMANSOORI |
|
Address |
: |
SE-42, PLOT 31, VILLA A-5, KHALIFA CITY, ABU DHABI, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
NZ5985167 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199801755H |
BOROUGE PTE. LTD. |
Director |
04/08/2016 |
0.00 |
- |
USD34,503,039.00 |
2016 |
- |
10/11/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ABDULAZIZ ABDULLA ISMAIL MOHAMED ALHAJRI |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
WIM ROELS |
|
Position |
: |
CEO |
|
|
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
QUEK WEN JUN @ GUO WENJUN |
|
IC / PP No |
: |
S8201519A |
|
|
Address |
: |
22, LIMAU WALK, KEW COTTAGES, 467784, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
SANDRA SEAH GEK HUANG |
|
IC / PP No |
: |
S7136473I |
|
|
Address |
: |
143, SERANGOON AVENUE 3, 06-08, THE SPRINGBLOOM, 556121,
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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
PLASTIC RAW MATERIALS, POLYOLEFINS |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2013 |
2012 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
200 |
200 |
200 |
200 |
100 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of plastic raw
materials, polyolefins.
The Subject is the leading provider of innovative, value creating plastics
solutions.
The Subject sells the products according to its customers' requirements.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
6562754100 |
|
Current Telephone Number |
: |
65-62754100 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
1 GEORGE STREET 18-01 049145 |
|
Current Address |
: |
1, GEORGE STREET, 18-01, 049145, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
34.12% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
26.42% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. Generally the Subject was profitable.
The favourable return on shareholders' funds and return on net assets
indicate that the Subject's management was efficient in utilising the assets
to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. 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 |
: |
Favourable |
[ |
1.10 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.12 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
22.43 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.50 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was lowly
geared thus it had a low financial risk. The Subject was mainly financed by
its shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses.
The Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the Subject
should be able to repay its short term obligations. With the favourable
interest cover, the Subject could be able to service all the accrued interest
without facing any difficulties. The Subject as a lowly geared company, will
be more secured compared to those highly geared companies. It has the ability
to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : STABLE |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
|
|
Major Economic Indicators : |
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
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
BOROUGE PTE. LTD. |
|
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 |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
4,593,522,072 |
4,243,948,024 |
3,877,126,384 |
3,305,285,387 |
3,252,121,376 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
4,593,522,072 |
4,243,948,024 |
3,877,126,384 |
3,305,285,387 |
3,252,121,376 |
|
Costs of Goods Sold |
(4,354,789,788) |
(4,067,136,430) |
(3,719,382,792) |
(3,138,956,576) |
(3,093,664,158) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
238,732,284 |
176,811,594 |
157,743,592 |
166,328,811 |
158,457,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
38,191,476 |
(34,213,236) |
9,581,110 |
38,699,320 |
29,119,991 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
38,191,476 |
(34,213,236) |
9,581,110 |
38,699,320 |
29,119,991 |
|
Taxation |
(3,688,437) |
(1,346,702) |
(998,811) |
(3,040,589) |
(986,342) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
34,503,039 |
(35,559,938) |
8,582,299 |
35,658,731 |
28,133,649 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
16,335,267 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
16,335,267 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
87,653,047 |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
|
TRANSFER TO RESERVES - General |
(49,895) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Term loan / Borrowing |
1,782,006 |
1,387,565 |
1,087,782 |
1,142,718 |
1,284,975 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,782,006 |
1,387,565 |
1,087,782 |
1,142,718 |
1,284,975 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
8,146,046 |
7,224,718 |
4,373,537 |
3,949,397 |
3,672,010 |
|
AMORTIZATION |
177,284 |
177,283 |
177,283 |
193,073 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,323,330 |
7,402,001 |
4,550,820 |
4,142,470 |
3,672,010 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
BOROUGE PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
51,053,732 |
59,617,120 |
52,779,200 |
43,216,399 |
43,966,987 |
|
Associated companies |
- |
41,539 |
41,539 |
41,539 |
41,539 |
|
Deferred assets |
3,579,341 |
4,115,809 |
3,975,391 |
4,179,767 |
5,227,068 |
|
Others |
- |
3,168,896 |
3,240,916 |
3,312,936 |
8,137,483 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,579,341 |
7,326,244 |
7,257,846 |
7,534,242 |
13,406,090 |
|
Intellectual property and license rights |
3,412,665 |
421,053 |
526,316 |
- |
- |
|
Others |
- |
- |
- |
631,579 |
700,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
3,412,665 |
421,053 |
526,316 |
631,579 |
700,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
58,045,738 |
67,364,417 |
60,563,362 |
51,382,220 |
58,073,077 |
|
Stocks |
13,749,736 |
28,728,239 |
34,074,430 |
36,304,187 |
32,746,822 |
|
Trade debtors |
710,917,108 |
565,575,658 |
553,557,431 |
712,133,689 |
629,127,019 |
|
Other debtors, deposits & prepayments |
11,793,325 |
17,792,394 |
15,981,380 |
41,416,284 |
50,865,202 |
|
Amount due from subsidiary companies |
544,838 |
- |
- |
- |
- |
|
Amount due from related companies |
11,768,623 |
31,338,959 |
103,015,776 |
- |
- |
|
Cash & bank balances |
123,139,543 |
165,845,945 |
70,474,827 |
63,245,134 |
57,273,479 |
|
Amount owing by shareholders |
- |
111,875,743 |
130,081,534 |
- |
- |
|
Others |
- |
- |
258,752 |
498,750 |
317,742 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
871,913,173 |
921,156,938 |
907,444,130 |
853,598,044 |
770,330,264 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
929,958,911 |
988,521,355 |
968,007,492 |
904,980,264 |
828,403,341 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
57,763,417 |
83,812,506 |
95,550,138 |
702,817,387 |
666,759,356 |
|
Other creditors & accruals |
48,002,330 |
31,921,066 |
55,794,687 |
51,119,506 |
47,403,817 |
|
Deposits from customers |
47,870,409 |
- |
- |
- |
- |
|
Amounts owing to related companies |
623,687,048 |
733,494,172 |
660,528,125 |
- |
- |
|
Provision for taxation |
1,307,546 |
789,044 |
879,168 |
2,553,278 |
3,181,783 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
778,630,750 |
850,016,788 |
812,752,118 |
756,490,171 |
717,344,956 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
93,282,423 |
71,140,150 |
94,692,012 |
97,107,873 |
52,985,308 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
151,328,161 |
138,504,567 |
155,255,374 |
148,490,093 |
111,058,385 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
Capital reserve |
14,801,053 |
14,801,053 |
14,801,053 |
14,801,053 |
14,801,053 |
|
Exchange equalisation/fluctuation reserve |
(4,536,063) |
(821,202) |
2,327,176 |
4,194,473 |
2,473,319 |
|
Retained profit/(loss) carried forward |
87,603,152 |
53,150,008 |
88,709,946 |
80,127,647 |
44,468,916 |
|
Others |
49,895 |
2,710 |
2,710 |
2,710 |
2,710 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
97,918,037 |
67,132,569 |
105,840,885 |
99,125,883 |
61,745,998 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
64,947,778 |
|
Long term loans |
50,130,000 |
67,930,000 |
45,930,000 |
45,930,000 |
45,930,000 |
|
Deferred taxation |
78,344 |
240,218 |
282,709 |
232,430 |
180,607 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
50,208,344 |
68,170,218 |
46,212,709 |
46,162,430 |
46,110,607 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
151,328,161 |
138,504,567 |
155,255,374 |
148,490,093 |
111,058,385 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
BOROUGE PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
123,139,543 |
165,845,945 |
70,474,827 |
63,245,134 |
57,273,479 |
|
Net Liquid Funds |
123,139,543 |
165,845,945 |
70,474,827 |
63,245,134 |
57,273,479 |
|
Net Liquid Assets |
79,532,687 |
42,411,911 |
60,617,582 |
60,803,686 |
20,238,486 |
|
Net Current Assets/(Liabilities) |
93,282,423 |
71,140,150 |
94,692,012 |
97,107,873 |
52,985,308 |
|
Net Tangible Assets |
147,915,496 |
138,083,514 |
154,729,058 |
147,858,514 |
110,358,385 |
|
Net Monetary Assets |
29,324,343 |
(25,758,307) |
14,404,873 |
14,641,256 |
(25,872,121) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
(32,825,671) |
10,668,892 |
39,842,038 |
30,404,966 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
48,296,812 |
(25,423,670) |
15,219,712 |
43,984,508 |
34,076,976 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
50,130,000 |
67,930,000 |
45,930,000 |
45,930,000 |
45,930,000 |
|
Total Liabilities |
828,839,094 |
918,187,006 |
858,964,827 |
802,652,601 |
763,455,563 |
|
Total Assets |
929,958,911 |
988,521,355 |
968,007,492 |
904,980,264 |
828,403,341 |
|
Net Assets |
151,328,161 |
138,504,567 |
155,255,374 |
148,490,093 |
111,058,385 |
|
Net Assets Backing |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
64,947,778 |
|
Shareholders' Funds |
101,119,817 |
70,334,349 |
109,042,665 |
102,327,663 |
64,947,778 |
|
Total Share Capital |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
3,201,780 |
|
Total Reserves |
97,918,037 |
67,132,569 |
105,840,885 |
99,125,883 |
61,745,998 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
8.24 |
9.46 |
17.30 |
1.63 |
109.29 |
|
Proft/(Loss) Before Tax |
211.63 |
(457.09) |
(75.24) |
32.90 |
401.86 |
|
Proft/(Loss) After Tax |
197.03 |
(514.34) |
(75.93) |
26.75 |
381.86 |
|
Total Assets |
(5.92) |
2.12 |
6.96 |
9.24 |
59.01 |
|
Total Liabilities |
(9.73) |
6.89 |
7.02 |
5.13 |
49.06 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.16 |
0.20 |
0.09 |
0.08 |
0.08 |
|
Liquid Ratio |
1.10 |
1.05 |
1.07 |
1.08 |
1.03 |
|
Current Ratio |
1.12 |
1.08 |
1.12 |
1.13 |
1.07 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
1 |
2 |
3 |
4 |
4 |
|
Debtors Ratio |
56 |
49 |
52 |
79 |
71 |
|
Creditors Ratio |
5 |
8 |
9 |
82 |
79 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.50 |
0.97 |
0.42 |
0.45 |
0.71 |
|
Liabilities Ratio |
8.20 |
13.05 |
7.88 |
7.84 |
11.75 |
|
Times Interest Earned Ratio |
22.43 |
(23.66) |
9.81 |
34.87 |
23.66 |
|
Assets Backing Ratio |
46.20 |
43.13 |
48.33 |
46.18 |
34.47 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.83 |
(0.81) |
0.25 |
1.17 |
0.90 |
|
Net Profit Margin |
0.75 |
(0.84) |
0.22 |
1.08 |
0.87 |
|
Return On Net Assets |
26.42 |
(23.70) |
6.87 |
26.83 |
27.38 |
|
Return On Capital Employed |
25.83 |
(23.63) |
6.85 |
26.72 |
27.21 |
|
Return On Shareholders' Funds/Equity |
34.12 |
(50.56) |
7.87 |
34.85 |
43.32 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
|
SGD |
1 |
INR 49.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.