|
|
|
MIRA INFORM REPORT
|
Report No. : |
500373 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KALEESUWARI INTERCONTINENTAL PTE. LTD. |
|
|
|
|
Registered Office : |
10, Anson Road, 17-24, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
24.02.2012 |
|
|
|
|
Com. Reg. No.: |
201204565Z |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Subject is principally engaged in the
trading of vegetable oil and its related products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.
The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION
NO. |
: |
201204565Z |
||||
|
COMPANY
NAME |
: |
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
24/02/2012 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
10,
ANSON ROAD, 17-24, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
10,
ANSON ROAD, 17-24, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62260137 |
||||
|
FAX.NO. |
: |
65-62216053 |
||||
|
CONTACT
PERSON |
: |
PADMINI
NARAYANAN ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF VEGETABLE OIL AND ITS RELATED PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
1.00
ORDINARY SHARE, OF A VALUE OF SGD 1.00 |
||||
|
SALES |
: |
USD
78,205,012 [2017] |
||||
|
NET
WORTH |
: |
USD
2,930,117 [2017] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
No
Complaints |
||||
|
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 vegetable oil
and its related products.
The
immediate and ultimate holding company of the Subject is KALEESUWARI REFINERY
PRIVATE LIMITED, a company incorporated in INDIA.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
28/03/2018 |
SGD
1.00 & USD 1,500,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
KALEESUWARI
REFINERY PRIVATE LIMITED |
OLD
21, NEW 53, RAJASEKARAN STREET, MYLAPORE, CHENNAI, TAMIL NADU 600004 ,INDIA |
T12UF0701 |
1,500,001.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,500,001.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR 1
|
Name
Of Subject |
: |
RAVI
RAMACHANDRAN |
|
Address |
: |
51/2,
ASHOK MANASAROVAR FLATS, 1ST AVENUE, ASHOK NAGAR, CHENNAI, 600083, INDIA. |
|
IC
/ PP No |
: |
Z2383550 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
22/08/2012 |
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 |
201204565Z |
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
Director |
22/08/2012 |
0.00 |
- |
USD93,104.00 |
2017 |
- |
28/03/2018 |
DIRECTOR 2
|
Name
Of Subject |
: |
PADMINI
NARAYANAN |
|
Address |
: |
6,
HOUGANG STREET 92, 14-04, REGENTVILLE, 538685, SINGAPORE. |
|
IC
/ PP No |
: |
S6966689B |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
24/02/2012 |
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 |
201204565Z |
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
Director |
24/02/2012 |
0.00 |
- |
USD93,104.00 |
2017 |
- |
28/03/2018 |
DIRECTOR 3
|
Name
Of Subject |
: |
KARUNAI
ANANDHAN ASHOK KUMAR |
|
Address |
: |
43,
16, TELEGU CHETTY STREET, OLD WASHERMANPET, CHENNAI 600 021, TAMILNADU,
INDIA. |
|
IC
/ PP No |
: |
Z1754144 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
24/02/2012 |
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 |
201204565Z |
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
Director |
24/02/2012 |
0.00 |
- |
USD93,104.00 |
2017 |
- |
28/03/2018 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
PADMINI
NARAYANAN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
JBS
PRACTICE PUBLIC ACCOUNTING CORPORATION , ALPAX ASSURANCE CO |
|
Auditor'
Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
SABESAN
SURESH KUMAR |
|
IC
/ PP No |
: |
S7260346Z |
|
|
Address |
: |
1,
RIVERVALE LINK, 02-16, THE RIVERVALE, 545118, INDIA. |
|
|
|
BANKING
|
Banking relations are maintained principally
with :
|
1) |
Name |
: |
STANDARD
CHARTERED BANK |
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.
PAYMENT
RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its
suppliers.
The Subject refused to provide any name of
trade/service supplier and we are unable to conduct any trade enquiry. However,
from financial historical data we conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
VEGETABLE
OIL AND ITS RELATED PRODUCTS |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2015 |
2014 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
4 |
2 |
2 |
||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a /
as an) trading of vegetable oil and its related products.
The principal activities for the Subject are
those of importers and exporters of vegetable oil both in bulk and in packed
form.
The Subject also sell crude sunflower oil.
The Subject sells the products based on
customer's demands and requirement.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62260137 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
10
ANSON ROAD, # 17-24 INTERNATIONAL PLAZA, 079903 SINGAPORE |
|
Current
Address |
: |
10,
ANSON ROAD, 17-24, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 29th March 2018, we have contacted one of the
staff from the Subject and she provided some information.
The Subject refused to disclose its number of
employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2013
- 2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013
- 2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
3.18% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
16.11% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the
Subject's products / services.The Subject's management have been efficient in
controlling its operating costs. The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Favourable |
[ |
53
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
37
Days |
] |
|
|
The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.18
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.18
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 |
: |
Unfavourable |
[ |
1.26
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.05
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 : |
||||||
|
Due
to the efficient control of its operating costs, the Subject was able to
remain profitable despite lower turnover achieved during the year. 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. 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 : POOR |
||||||
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) |
|||||
|
(Source
: Department of Statistics) |
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. |
|
KALEESUWARI
INTERCONTINENTAL 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 |
13 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
Company |
|
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 |
78,205,012 |
79,485,482 |
82,934,870 |
87,510,572 |
75,049,426 |
|
Other
Income |
- |
- |
- |
1,609,719 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
78,205,012 |
79,485,482 |
82,934,870 |
89,120,291 |
75,049,426 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
96,072 |
21,528 |
336,168 |
19,716 |
1,122,400 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
96,072 |
21,528 |
336,168 |
19,716 |
1,122,400 |
|
Taxation |
(2,968) |
(3,600) |
(44,425) |
54,802 |
(169,577) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
93,104 |
17,928 |
291,743 |
74,518 |
952,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,430,116 |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,430,116 |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Term
loan / Borrowing |
43,054 |
30,860 |
27,674 |
33,755 |
17,352 |
|
Trust
receipts |
- |
154,216 |
141,676 |
223,183 |
154,629 |
|
Others |
332,789 |
296,495 |
186,708 |
- |
303,408 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
375,843 |
481,571 |
356,058 |
256,938 |
475,389 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
51,458 |
51,710 |
53,049 |
52,746 |
50,660 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
51,458 |
51,710 |
53,049 |
52,746 |
50,660 |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
1,704,983 |
1,755,978 |
1,806,827 |
1,859,089 |
1,895,710 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,704,983 |
1,755,978 |
1,806,827 |
1,859,089 |
1,895,710 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
- |
1,782,425 |
- |
- |
24,843 |
|
Trade
debtors |
11,433,056 |
10,046,625 |
13,286,588 |
20,721,692 |
12,338,936 |
|
Other
debtors, deposits & prepayments |
299,927 |
96,761 |
132,140 |
165,076 |
2,674,177 |
|
Amount
due from director |
1 |
1 |
1 |
- |
- |
|
Cash
& bank balances |
1,066,212 |
574,234 |
348,522 |
362,858 |
107,740 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
12,799,196 |
12,500,046 |
13,767,251 |
21,249,626 |
15,145,696 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
14,504,179 |
14,256,024 |
15,574,078 |
23,108,715 |
17,041,406 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
7,982,954 |
4,463,009 |
2,818,761 |
12,627,464 |
6,864,128 |
|
Other
creditors & accruals |
10,311 |
22,331 |
12,222 |
11,137 |
13,142 |
|
Short
term borrowings/Term loans |
99,055 |
102,481 |
100,744 |
- |
- |
|
Other
borrowings |
- |
- |
- |
4,750,783 |
7,104,524 |
|
Bill
& acceptances payable |
2,243,150 |
5,463,227 |
8,660,931 |
2,210,000 |
- |
|
Amounts
owing to holding company |
480,072 |
483,901 |
187,407 |
304,107 |
304,107 |
|
Amounts
owing to director |
6,405 |
3,842 |
- |
- |
- |
|
Provision
for taxation |
9,200 |
9,133 |
17,854 |
5,000 |
169,577 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
10,831,147 |
10,547,924 |
11,797,919 |
19,908,491 |
14,455,478 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,968,049 |
1,952,122 |
1,969,332 |
1,341,135 |
690,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Long
term loans |
742,915 |
871,087 |
957,074 |
- |
- |
|
Other
long term borrowings |
- |
- |
- |
1,172,882 |
1,283,104 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
742,915 |
871,087 |
957,074 |
1,172,882 |
1,283,104 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
1,500,001 |
1,500,001 |
1,500,001 |
1,000,001 |
350,001 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,500,001 |
1,500,001 |
1,500,001 |
1,000,001 |
350,001 |
|
RESERVES |
|||||
|
Retained
profit/(loss) carried forward |
1,430,116 |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,430,116 |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
KALEESUWARI
INTERCONTINENTAL PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
1,066,212 |
574,234 |
348,522 |
362,858 |
107,740 |
|
Net
Liquid Funds |
(1,176,938) |
(4,888,993) |
(8,312,409) |
(1,847,142) |
107,740 |
|
Net
Liquid Assets |
1,968,049 |
169,697 |
1,969,332 |
1,341,135 |
665,375 |
|
Net
Current Assets/(Liabilities) |
1,968,049 |
1,952,122 |
1,969,332 |
1,341,135 |
690,218 |
|
Net
Tangible Assets |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
Net
Monetary Assets |
1,225,134 |
(701,390) |
1,012,258 |
168,253 |
(617,729) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
471,915 |
503,099 |
692,226 |
276,654 |
1,597,789 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
523,373 |
554,809 |
745,275 |
329,400 |
1,648,449 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
3,085,120 |
6,436,795 |
9,718,749 |
8,133,665 |
8,387,628 |
|
Total
Liabilities |
11,574,062 |
11,419,011 |
12,754,993 |
21,081,373 |
15,738,582 |
|
Total
Assets |
14,504,179 |
14,256,024 |
15,574,078 |
23,108,715 |
17,041,406 |
|
Net
Assets |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
Net
Assets Backing |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
Shareholders'
Funds |
2,930,117 |
2,837,013 |
2,819,085 |
2,027,342 |
1,302,824 |
|
Total
Share Capital |
1,500,001 |
1,500,001 |
1,500,001 |
1,000,001 |
350,001 |
|
Total
Reserves |
1,430,116 |
1,337,012 |
1,319,084 |
1,027,341 |
952,823 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(1.61) |
(4.16) |
(5.23) |
16.60 |
- |
|
Proft/(Loss)
Before Tax |
346.27 |
(93.60) |
1,605.05 |
(98.24) |
- |
|
Proft/(Loss)
After Tax |
419.32 |
(93.85) |
291.51 |
(92.18) |
- |
|
Total
Assets |
1.74 |
(8.46) |
(32.61) |
35.60 |
- |
|
Total
Liabilities |
1.36 |
(10.47) |
(39.50) |
33.95 |
- |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.10 |
0.05 |
0.03 |
0.02 |
0.01 |
|
Liquid
Ratio |
1.18 |
1.02 |
1.17 |
1.07 |
1.05 |
|
Current
Ratio |
1.18 |
1.19 |
1.17 |
1.07 |
1.05 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
8 |
0 |
0 |
0 |
|
Debtors
Ratio |
53 |
46 |
58 |
86 |
60 |
|
Creditors
Ratio |
37 |
20 |
12 |
53 |
33 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
1.05 |
2.27 |
3.45 |
4.01 |
6.44 |
|
Liabilities
Ratio |
3.95 |
4.03 |
4.52 |
10.40 |
12.08 |
|
Times
Interest Earned Ratio |
1.26 |
1.04 |
1.94 |
1.08 |
3.36 |
|
Assets
Backing Ratio |
1.95 |
1.89 |
1.88 |
2.03 |
3.72 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.12 |
0.03 |
0.41 |
0.02 |
1.50 |
|
Net
Profit Margin |
0.12 |
0.02 |
0.35 |
0.09 |
1.27 |
|
Return
On Net Assets |
16.11 |
17.73 |
24.55 |
13.65 |
122.64 |
|
Return
On Capital Employed |
12.85 |
13.57 |
18.33 |
8.64 |
61.79 |
|
Return
On Shareholders' Funds/Equity |
3.18 |
0.63 |
10.35 |
3.68 |
73.14 |
|
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 92.28 |
|
Euro |
1 |
INR 80.62 |
|
SGD |
1 |
INR 49.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
DNS |
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.