|
|
|
MIRA
INFORM REPORT
|
Report No. : |
498146 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
NATSTEEL HOLDINGS PTE. LTD. |
|
|
|
|
Formerly Known As : |
NATSTEEL SINGAPORE
PTE. LTD. |
|
|
|
|
Registered Office : |
22, Tanjong Kling
Road, 628048 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
23.05.2008 |
|
|
|
|
Com. Reg. No.: |
200810196Z |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in manufacturing and trading of steel related
products, investment holding. |
|
|
|
|
No. of Employees : |
1100 [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 : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (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. |
: |
200810196Z |
|
COMPANY
NAME |
: |
NATSTEEL
HOLDINGS PTE. LTD. |
|
FORMER
NAME |
: |
NATSTEEL
SINGAPORE PTE. LTD. (09/07/2008) |
|
INCORPORATION
DATE |
: |
23/05/2008 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
22,
TANJONG KLING ROAD, 628048, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
22,
TANJONG KLING ROAD, 628048, SINGAPORE. |
|
TEL.NO. |
: |
65-62651233 |
|
FAX.NO. |
: |
65-62663697 |
|
WEB
SITE |
: |
WWW.NATSTEEL.COM.SG |
|
CONTACT
PERSON |
: |
SANDIP
BISWAS ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
AND TRADING OF STEEL RELATED PRODUCTS, INVESTMENT HOLDING |
|
ISSUED
AND PAID UP CAPITAL |
: |
200,025,000.00
ORDINARY SHARE, OF A VALUE OF SGD 200,025,000.00 |
|
SALES |
: |
SGD
921,737,000 [2017] |
|
NET
WORTH |
: |
SGD
191,601,000 [2017] |
|
STAFF
STRENGTH |
: |
1100
[2018] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
NO COMPLAINTS
|
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
GOOD |
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as a /
as an) manufacturing and trading of steel related products, investment holding.
The immediate holding company of the Subject is T S
GLOBAL HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is TATA
STEEL LIMITED, a company incorporated in INDIA.
The intermediate holding company of the Subject is
T STEEL HOLDING PTE LTD, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
20/03/2018 |
SGD
200,025,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
T S
GLOBAL HOLDINGS PTE. LTD. |
22,
TANJONG KLING ROAD 628048 ,SINGAPORE |
200813139E |
200,025,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
200,025,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
549356P |
MALAYSIA |
EASTEEL
SERVICES (MALAYSIA) SDN. BHD. |
- |
100.00 |
31/03/2017 |
|
200004579D |
SINGAPORE |
NATSTEEL
RECYCLING PTE. LTD. |
- |
100.00 |
20/03/2018 |
|
197702269N |
SINGAPORE |
NATSTEEL
TRADE INTERNATIONAL PTE LTD |
- |
100.00 |
20/03/2018 |
|
VIETNAM |
NATSTEEL
VINA COMPANY LIMITED |
- |
56.50 |
31/03/2017 |
|
|
THAILAND |
THE
SIAM INDUSTRIAL WIRE COMPANY LIMITED |
- |
100.00 |
31/03/2017 |
|
|
THAILAND |
TSN
WIRES CO LTD |
- |
60.00 |
31/03/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
OO SOON
HEE |
|
Address |
: |
12,
SWISS CLUB AVENUE, SWISS CLUB PARK, 288221, SINGAPORE. |
|
IC / PP
No |
: |
S0347133J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
30/05/2008 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
30/05/2008 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
ASHISH
ANUPAM |
|
Address |
: |
29,
LEONIE HILL, 04-04, HORIZON TOWERS WEST, 239228, SINGAPORE. |
|
IC / PP
No |
: |
G3161708T |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
15/04/2015 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
15/04/2015 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
DIRECTOR 3
|
Name Of
Subject |
: |
ANAND
SEN |
|
Address |
: |
7, C
ROAD (EAST), NORTHERN TOWN, BISTUPUR, JAMSHEDPUR, EAST SINGHBHUM,
JHARKHAND-831 001, INDIA. |
|
IC / PP
No |
: |
Z2252453 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
08/11/2013 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
08/11/2013 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
DIRECTOR 4
|
Name Of
Subject |
: |
SANDIP
BISWAS |
|
Address |
: |
NCPA
APARTMENT, A, 11 FLOOR, FLAT 111, NARIMAN POINT, MUMBAI, MAHARASHTRA, 400021,
INDIA. |
|
IC / PP
No |
: |
Z3880326 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
26/04/2014 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
26/04/2014 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
|
2 |
201008706C |
T S
GLOBAL PROCUREMENT COMPANY PTE. LTD. |
Director |
23/04/2010 |
0.00 |
- |
USD17,171,000.00 |
2017 |
- |
21/02/2018 |
DIRECTOR 5
|
Name Of
Subject |
: |
SUNIL
BHASKARAN |
|
Address |
: |
3,
C-ROAD, NORTHERN TOWN, JAMSHEDPUR, EAST SINGHBHUM, JKARKHAND, 831001, INDIA. |
|
IC / PP
No |
: |
Z3479210 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
26/04/2014 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
26/04/2014 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
DIRECTOR 6
|
Name Of
Subject |
: |
THACHAT
VISWANATH NARENDRAN |
|
Address |
: |
5,
C-ROAD, NORTHERN TOWN, BISTUPUR (POST), JAMSHEDPUR-831001, INDIA. |
|
IC / PP
No |
: |
Z3614325 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
23/07/2015 |
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 |
200810196Z |
NATSTEEL
HOLDINGS PTE. LTD. |
Director |
23/07/2015 |
0.00 |
- |
SGD3,721,000.00 |
2017 |
- |
20/03/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
ASHISH
ANUPAM |
|
Position |
: |
CEO |
|
|
2) |
Name of
Subject |
: |
SANDIP
BISWAS |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS
LLP |
|
Auditor'
Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
JAMES
LAU OON BENG |
|
IC / PP
No |
: |
S1745715B |
|
|
Address |
: |
22,
TANJONG KLING ROAD, 628048, 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 againt the Subject whether the
subject has been involved in any litigation.
No winding up petition was found in our databank.
|
LEGAL ACTION |
|
||||||
|
|||||||
|
|||||||
|
Total PENDING
Case(s) : 3 |
|
||||||
|
|||||||
|
Case
Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
13326 |
||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE
COURT |
|||||
|
Date
Filed |
: |
26/05/2011 |
|||||
|
Solicitor
Firm |
: |
KURU
& CO |
|||||
|
Plaintiff |
: |
DANIEL
LIM JIU WOON |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) 22, TANJONG KLING ROAD, 628048, SINGAPORE. |
|||||
|
Remark |
: |
TORT-NEGLIENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
664 |
||
|
Year |
: |
2016 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
SUPREME
COURT |
|||||
|
Date
Filed |
: |
24/06/2016 |
|||||
|
Solicitor |
: |
NAMASIVAYAM
SRINIVASAN |
|||||
|
Solicitor
Firm |
: |
HOH LAW
CORPORATION |
|||||
|
Plaintiff |
: |
SAKEB
NAJMUCH |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
647 |
||
|
Year |
: |
2016 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE
COURT |
|||||
|
Date
Filed |
: |
13/01/2016 |
|||||
|
Solicitor |
: |
LEE
CHEONG HOH |
|||||
|
Solicitor
Firm |
: |
CHEONGHOH
LAW CORPORATION |
|||||
|
Plaintiff |
: |
LIM KAH
CHEW |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Amount
Claimed |
: |
23553.50 |
|||||
|
Nature
of Claim |
: |
SGD |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
Total SETTLED
Case(s) : 6 |
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
3993 |
||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
DISTRICT
COURT |
|||||
|
Date
Filed |
: |
29/12/2014 |
|||||
|
Solicitor |
: |
HOH
CHIN CHA |
|||||
|
Solicitor
Firm |
: |
HOH LAW
CORPORATION |
|||||
|
Plaintiff |
: |
ZHOU
HEJI |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
3614 |
||
|
Year |
: |
2015 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
DISTRICT
COURT |
|||||
|
Date
Filed |
: |
02/12/2015 |
|||||
|
Solicitor |
: |
HARVINDARJIT
SINGH BATH |
|||||
|
Solicitor
Firm |
: |
HOH LAW
COPRPORATION |
|||||
|
Plaintiff |
: |
LI KAI |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
25814 |
||
|
Year |
: |
2013 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE
COURT |
|||||
|
Date
Filed |
: |
03/12/2013 |
|||||
|
Solicitor |
: |
UNREPRESENTED |
|||||
|
Solicitor
Firm |
: |
CHEONGHOH
LAW CORPORATION |
|||||
|
Plaintiff |
: |
LEK PEOW
BOO |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
11853 |
||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
MAGISTRATE
COURT |
|||||
|
Date
Filed |
: |
25/06/2014 |
|||||
|
Solicitor |
: |
YU SIN
GIAP JAMES |
|||||
|
Solicitor
Firm |
: |
YU
& CO. |
|||||
|
Plaintiff |
: |
COMFORT
TRANSPORTATION PTE LTD TAN
BOON CHUAN |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Amount
Claimed |
: |
16532 |
|||||
|
Nature
of Claim |
: |
SGD |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
3165 |
||
|
Year |
: |
2016 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
DISTRICT
COURT |
|||||
|
Date
Filed |
: |
04/10/2016 |
|||||
|
Solicitor |
: |
RAJASHREE
RAJAN |
|||||
|
Solicitor
Firm |
: |
JUST
LAW LLC |
|||||
|
Plaintiff |
: |
JAMULINGAM
BALAKRISHNAN |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Amount
Claimed |
: |
SGD |
|||||
|
Nature
of Claim |
: |
299,448.40 |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
|
|
|||||||
|
Case
Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
3234 |
||
|
Year |
: |
2016 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
DISTRICT
COURT |
|||||
|
Date
Filed |
: |
10/10/2016 |
|||||
|
Solicitor |
: |
LEE
TZUN-TZIEN |
|||||
|
Solicitor
Firm |
: |
HOH LAW
CORPORATION |
|||||
|
Plaintiff |
: |
MD
RAZAUL KARIM MD JAHED ALI MIAH |
|||||
|
DEFENDANTS |
: |
NATSTEEL
HOLDINGS PTE. LTD. (200810196) |
|||||
|
Amount
Claimed |
: |
SGD |
|||||
|
Nature
of Claim |
: |
119,535.93 |
|||||
|
Remark |
: |
NEGLIGENCE |
|||||
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 |
Percentage |
: |
70% |
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
30% |
|
Export
Market |
: |
ASIA
PACIFIC |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
|
|
Services |
: |
INVESTMENT
HOLDING |
|
|
Ownership
of premises |
: |
OWNED |
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
1100 |
1550 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of steel related products, investment holding.
The Subject is one of the top steel providers in the Asia Pacific.
The Subject offers the following products:
- rainforesment bar
- Cut-and-bend Reinforcement Bars
- Wire Rods
- Welded Wire Mesh (Mesh) etc
The Subject's steel products are used for residential and commercial buildings,
and infrastructural works like bridges and MRT lines.
Its flagship plant in Singapore also serves as its Asia-Pacific hub, providing
research and development, engineering consultancy, logistics, procurement and
other support services.
Singapore is home to NatSteel's headquarters as well as its flagship plant,
which boasts one of the largest single downstream rebar fabrication operations
in the world. The Singapore plant is the only local steel mill with an
integrated upstream and downstream operation, where steel is manufactured
through recycling scrap, and fabricated according to customers' needs.
The Subject is an one-stop shop for all your construction site's steel
requirements: from cut-and-bend reinforcement bars to welded wire mesh and
prefabricated cages.
The Subject's offsite fabrication service adds values to customers by reducing
wastage of materials,
shortening project construction time lessening manpower required and improving
site safety.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62651233 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
22 TAN
HOW RD SINGAPORE |
|
Current
Address |
: |
22,
TANJONG KLING ROAD, 628048, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The Subject is not aware of the address provided.
The Subject refused to disclose its banker information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2013 -
2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013 -
2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
13.36% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
5.13% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the
Subject's products / services.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. The
Subject's management had generated acceptable return for its shareholders using
its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
70 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
33 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
28 Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Unfavourable |
[ |
0.68
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.31
Times |
] |
|
|
A low
liquid ratio means that the Subject may be facing working capital deficiency.
If the Subject cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
1.18
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.45
Times |
] |
|
|
The
Subject's interest cover was low. If its profits fall or when interest rate
rises, it may not be able to meet all its interest payment. 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 Subject's turnover decreased, its losses also decreased during the year.
This could be the result of more efficient control in its operating costs.
Due to its weak liquidity position, the Subject will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the Subject. If there is a fall in the
Subject's profit or any increase in interest rate, the Subject may not be
able to generate sufficient cash-flow to service its interest. 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 : LIMITED |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population
(Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross
Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer
Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total
Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total
Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment
Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist
Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel
Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular
Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration
of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation
of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation
of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration
of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration
of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation
of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation
of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy
Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy
Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy
Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish
Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing
Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather
Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood
& Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper
& Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing
& Media |
113.8 |
105.968
|
100.0 |
85.1 |
73.1 |
|
Crude
Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical
& Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical
Products |
101.421
|
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber
& Plastic Products |
109.497
|
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic
Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic
Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated
Metal Products |
107.5 |
107.757
|
100.0 |
93.8 |
91.3 |
|
Machinery
& Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical
Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic
Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport
Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real
Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport,
Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance
& Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government
Services |
6.50 |
6.30 |
- |
- |
- |
|
Education
Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate
/ Preliminary |
|||||
|
# Based
on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY
: |
MANUFACTURING |
|
In the
first quarter of 2017, manufacturing output rose by 8.0%, following the
increase of 11% in the previous quarter. The robust performance of the sector
was underpinned by sustained growth in the electronics, precision engineering
and chemicals clusters. For the whole year of 2016, the manufacturing sector
grew by 3.6%, a reversal from the 5.1% contraction in the previous year. |
|
|
The
electronics cluster increased by 33% in the first quarter, largely driven by
the semiconductors segment, which saw its output surge by 50%. The strong
performance of the semiconductors segment can be attributed to the continued
recovery in global semiconductors demand, driven in turn by healthy demand in
key end markets such as smartphone and automotive applications. At the same
time, the other electronic modules & components and computer peripherals
segments grew by 9.0% and 1.2% respectively. For the full year of 2016, the
electronics cluster expanded by 16%. |
|
|
Besides,
biomedical manufacturing cluster contracted by 7.5% in the first quarter of
2017. Within the cluster, the medical technology segment recorded robust
growth of 14%, supported by higher export demand for medical instruments.
However, this was outweighed by a 14% decline in the output of the
pharmaceuticals segment as the production of active pharmaceutical
ingredients fell. For 2016 as a whole, the biomedical manufacturing cluster
expanded by 14%, with both the pharmaceuticals and medical technology
segments supporting growth. |
|
|
In the
first quarter of 2017, output of the transport engineering cluster fell by
11%, dragged down by the marine & offshore engineering (M&OE) segment.
This more than offset expansions in the aerospace (10%) and land (7.0%)
segments. The aerospace segment, in particular, was supported by an increase
in demand for aircraft and engine maintenance work. For the whole year of
2016, the transport engineering cluster contracted by 18%. |
|
|
The
precision engineering cluster expanded by 19% in the first quarter of 2017,
supported by both the machinery & systems (M&S) and precision modules
& components (PMC) segments. Output in the M&S segment rose by 24 % on
the back of robust export demand for semiconductor manufacturing equipment.
Meanwhile, the PMC segment grew by 11% due to an increase in the production
of dies, moulds, tools, jigs & fixtures, optical instruments and metal
precision components. In 2016, the precision engineering cluster’s output
rose by 0.8%. |
|
|
Moreover,
output of the general manufacturing industries shrank by 6.7% in the first
quarter 2017. In particular, the output of the miscellaneous industries
segment fell by 12% due to a decline in the production of fibre glass
products and construction-related products & materials. The printing
segment contracted by 21%, as demand for commercial printing remained weak
and the food, beverage & tobacco segment expanded by 3.2%, supported by
healthy export demand. For the full year 2016, the general manufacturing
industries contracted by 2.5%. |
|
|
The
output of the chemicals cluster increased by 2.9% in the first quarter of
2017 supported primarily by growth in the petrochemicals (9.8%) and specialty
chemicals (2.9%) segments. Growth in the petrochemicals segment was partly
the result of a low base effect as production levels a year ago were weak due
to plant maintenance shutdowns. On the other hand, the other chemicals
segment contracted to 5.6% on account of a lower level of production of
fragrances. For the full year 2016, the chemicals cluster contracted by 0.9
per cent. This was due to a decline in the output of the petrochemicals
segment arising from major plant maintenance shutdowns, even as the output of
all other segments expanded. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
NATSTEEL
HOLDINGS PTE. LTD. |
|
Financial
Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
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 |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
921,737,000 |
957,954,000 |
1,254,051,000 |
2,303,609,000 |
2,152,471,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
921,737,000 |
957,954,000 |
1,254,051,000 |
2,303,609,000 |
2,152,471,000 |
|
Costs
of Goods Sold |
(861,742,000) |
(910,601,000) |
(1,231,026,000) |
(2,206,592,000) |
(2,013,845,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
59,995,000 |
47,353,000 |
23,025,000 |
97,017,000 |
138,626,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,494,000 |
(19,206,000) |
(39,252,000) |
1,971,000 |
41,324,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,494,000 |
(19,206,000) |
(39,252,000) |
1,971,000 |
41,324,000 |
|
Taxation |
2,227,000 |
6,091,000 |
4,248,000 |
1,686,000 |
(11,930,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
3,721,000 |
(13,115,000) |
(35,004,000) |
3,657,000 |
29,394,000 |
|
Minority
interests |
153,000 |
(160,000) |
3,780,000 |
1,531,000 |
2,939,000 |
|
Profit/(Loss)
from discontinued operation |
21,716,000 |
(48,715,000) |
(122,437,000) |
(11,454,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
25,590,000 |
(61,990,000) |
(153,661,000) |
(6,266,000) |
32,333,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
25,590,000 |
(61,990,000) |
(153,661,000) |
(6,266,000) |
32,333,000 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
45,588,000 |
108,501,000 |
263,056,000 |
269,486,000 |
239,053,000 |
|
Prior
year adjustment |
- |
(923,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
45,588,000 |
107,578,000 |
263,056,000 |
269,486,000 |
239,053,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
71,178,000 |
45,588,000 |
109,395,000 |
263,220,000 |
271,386,000 |
|
TRANSFER
TO RESERVES - General |
212,000 |
- |
(894,000) |
(164,000) |
(1,900,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
71,390,000 |
45,588,000 |
108,501,000 |
263,056,000 |
269,486,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
3,523,000 |
2,586,000 |
5,556,000 |
8,565,000 |
8,793,000 |
|
Loan
from holding company |
4,290,000 |
4,087,000 |
132,000 |
126,000 |
189,000 |
|
Others |
529,000 |
754,000 |
437,000 |
4,155,000 |
3,866,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,342,000 |
7,427,000 |
6,125,000 |
12,846,000 |
12,848,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
30,563,000 |
34,963,000 |
33,600,000 |
30,611,000 |
27,493,000 |
|
AMORTIZATION |
627,000 |
627,000 |
627,000 |
627,000 |
627,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
31,190,000 |
35,590,000 |
34,227,000 |
31,238,000 |
28,120,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
NATSTEEL
HOLDINGS PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
189,864,000 |
214,922,000 |
272,909,000 |
254,910,000 |
218,510,000 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Investment
properties |
8,250,000 |
3,100,000 |
3,850,000 |
4,500,000 |
3,840,000 |
|
Investments |
5,220,000 |
5,490,000 |
6,300,000 |
- |
- |
|
Deferred
assets |
725,000 |
698,000 |
821,000 |
3,756,000 |
11,352,000 |
|
Others |
15,749,000 |
19,157,000 |
17,896,000 |
48,076,000 |
28,724,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
29,944,000 |
28,445,000 |
28,867,000 |
56,332,000 |
43,916,000 |
|
INTANGIBLE
ASSETS |
|||||
|
Deferred/Expenditure
carried forward |
3,298,000 |
3,925,000 |
4,552,000 |
5,179,000 |
5,806,000 |
|
Own
goodwill |
13,724,000 |
12,973,000 |
14,484,000 |
14,484,000 |
14,484,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
17,022,000 |
16,898,000 |
19,036,000 |
19,663,000 |
20,290,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
236,830,000 |
260,265,000 |
320,812,000 |
330,905,000 |
282,716,000 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
174,702,000 |
116,156,000 |
205,067,000 |
270,804,000 |
275,966,000 |
|
Contract
work-in-progress |
1,549,000 |
1,154,000 |
2,430,000 |
- |
- |
|
Trade
debtors |
82,974,000 |
71,665,000 |
95,160,000 |
115,063,000 |
165,983,000 |
|
Other
debtors, deposits & prepayments |
19,724,000 |
7,277,000 |
37,639,000 |
139,843,000 |
107,507,000 |
|
Short
term deposits |
38,156,000 |
8,711,000 |
9,913,000 |
- |
- |
|
Amount
due from holding company |
21,925,000 |
6,971,000 |
3,912,000 |
- |
- |
|
Amount
due from related companies |
8,649,000 |
27,584,000 |
30,429,000 |
- |
- |
|
Cash
& bank balances |
10,528,000 |
14,577,000 |
15,779,000 |
27,646,000 |
60,921,000 |
|
Others |
1,133,000 |
12,925,000 |
2,190,000 |
89,591,000 |
755,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
359,340,000 |
267,020,000 |
402,519,000 |
642,947,000 |
611,132,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
596,170,000 |
527,285,000 |
723,331,000 |
973,852,000 |
893,848,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
65,966,000 |
61,143,000 |
84,727,000 |
150,468,000 |
150,484,000 |
|
Other
creditors & accruals |
36,928,000 |
45,287,000 |
63,197,000 |
65,102,000 |
43,030,000 |
|
Short
term borrowings/Term loans |
158,283,000 |
73,874,000 |
253,165,000 |
320,315,000 |
260,111,000 |
|
Deposits
from customers |
1,363,000 |
862,000 |
5,805,000 |
- |
- |
|
Amounts
owing to holding company |
29,000 |
49,619,000 |
46,494,000 |
3,000 |
5,419,000 |
|
Amounts
owing to related companies |
2,486,000 |
540,000 |
1,512,000 |
692,000 |
8,826,000 |
|
Provision
for taxation |
7,755,000 |
10,928,000 |
14,100,000 |
15,098,000 |
18,617,000 |
|
Other
liabilities |
661,000 |
4,754,000 |
370,000 |
41,063,000 |
895,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
273,471,000 |
247,007,000 |
469,370,000 |
592,741,000 |
487,382,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
85,869,000 |
20,013,000 |
(66,851,000) |
50,206,000 |
123,750,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Long
term loans |
120,000,000 |
124,069,000 |
5,606,000 |
5,913,000 |
6,107,000 |
|
Deferred
taxation |
8,754,000 |
8,800,000 |
17,890,000 |
9,817,000 |
13,172,000 |
|
Retirement
benefits provision |
2,269,000 |
1,865,000 |
2,005,000 |
2,035,000 |
1,853,000 |
|
Others |
75,000 |
81,000 |
99,000 |
66,000 |
3,993,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
131,098,000 |
134,815,000 |
25,600,000 |
17,831,000 |
25,125,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
191,601,000 |
145,463,000 |
228,361,000 |
363,280,000 |
381,341,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
|
RESERVES |
|||||
|
Revaluation
reserve |
6,207,000 |
4,713,000 |
5,523,000 |
6,603,000 |
5,343,000 |
|
Exchange
equalisation/fluctuation reserve |
(9,899,000) |
(22,764,000) |
(4,411,000) |
(23,886,000) |
- |
|
Statutory
reserve |
2,688,000 |
2,688,000 |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
71,390,000 |
45,588,000 |
108,501,000 |
263,056,000 |
269,486,000 |
|
Others |
(90,926,000) |
(91,249,000) |
(88,031,000) |
(88,819,000) |
(101,401,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(20,540,000) |
(61,024,000) |
21,582,000 |
156,954,000 |
173,428,000 |
|
MINORITY
INTEREST |
12,116,000 |
6,462,000 |
6,754,000 |
6,301,000 |
7,888,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
191,601,000 |
145,463,000 |
228,361,000 |
363,280,000 |
381,341,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
NATSTEEL
HOLDINGS PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
48,684,000 |
23,288,000 |
25,692,000 |
27,646,000 |
60,921,000 |
|
Net
Liquid Funds |
48,684,000 |
23,288,000 |
25,692,000 |
27,646,000 |
60,921,000 |
|
Net
Liquid Assets |
(88,833,000) |
(96,143,000) |
(271,918,000) |
(220,598,000) |
(152,216,000) |
|
Net
Current Assets/(Liabilities) |
85,869,000 |
20,013,000 |
(66,851,000) |
50,206,000 |
123,750,000 |
|
Net
Tangible Assets |
174,579,000 |
128,565,000 |
209,325,000 |
343,617,000 |
361,051,000 |
|
Net
Monetary Assets |
(219,931,000) |
(230,958,000) |
(297,518,000) |
(238,429,000) |
(177,341,000) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
9,836,000 |
(11,779,000) |
(33,127,000) |
14,817,000 |
54,172,000 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
41,026,000 |
23,811,000 |
1,100,000 |
46,055,000 |
82,292,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
278,283,000 |
197,943,000 |
258,771,000 |
326,228,000 |
266,218,000 |
|
Total
Liabilities |
404,569,000 |
381,822,000 |
494,970,000 |
610,572,000 |
512,507,000 |
|
Total
Assets |
596,170,000 |
527,285,000 |
723,331,000 |
973,852,000 |
893,848,000 |
|
Net
Assets |
191,601,000 |
145,463,000 |
228,361,000 |
363,280,000 |
381,341,000 |
|
Net
Assets Backing |
191,601,000 |
145,463,000 |
228,361,000 |
363,280,000 |
381,341,000 |
|
Shareholders'
Funds |
191,601,000 |
145,463,000 |
228,361,000 |
363,280,000 |
381,341,000 |
|
Total
Share Capital |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
200,025,000 |
|
Total
Reserves |
(20,540,000) |
(61,024,000) |
21,582,000 |
156,954,000 |
173,428,000 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(3.78) |
(23.61) |
(45.56) |
7.02 |
(4.31) |
|
Proft/(Loss)
Before Tax |
107.78 |
51.07 |
(2,091.48) |
(95.23) |
1,371.12 |
|
Proft/(Loss)
After Tax |
128.37 |
62.53 |
(1,057.18) |
(87.56) |
299.20 |
|
Total
Assets |
13.06 |
(27.10) |
(25.72) |
8.95 |
4.20 |
|
Total
Liabilities |
5.96 |
(22.86) |
(18.93) |
19.13 |
(0.41) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.18 |
0.09 |
0.05 |
0.05 |
0.12 |
|
Liquid
Ratio |
0.68 |
0.61 |
0.42 |
0.63 |
0.69 |
|
Current
Ratio |
1.31 |
1.08 |
0.86 |
1.08 |
1.25 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
70 |
45 |
60 |
43 |
47 |
|
Debtors
Ratio |
33 |
27 |
28 |
18 |
28 |
|
Creditors
Ratio |
28 |
25 |
25 |
25 |
27 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
1.45 |
1.36 |
1.13 |
0.90 |
0.70 |
|
Liabilities
Ratio |
2.11 |
2.62 |
2.17 |
1.68 |
1.34 |
|
Times
Interest Earned Ratio |
1.18 |
(1.59) |
(5.41) |
1.15 |
4.22 |
|
Assets
Backing Ratio |
0.87 |
0.64 |
1.05 |
1.72 |
1.81 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.16 |
(2.00) |
(3.13) |
0.09 |
1.92 |
|
Net
Profit Margin |
2.78 |
(6.47) |
(12.25) |
(0.27) |
1.50 |
|
Return
On Net Assets |
5.13 |
(8.10) |
(14.51) |
4.08 |
14.21 |
|
Return
On Capital Employed |
2.80 |
(3.88) |
(11.84) |
3.64 |
12.46 |
|
Return
On Shareholders' Funds/Equity |
13.36 |
(42.62) |
(67.29) |
(1.72) |
8.48 |
|
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 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
|
SGD |
1 |
INR 49.47 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.