MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499923

Report Date :

31.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

 

 

Formerly Known As :

SCHNEIDER OVERSEAS ASIA PTE LTD

 

 

Registered Office :

50, Kallang Avenue, 339505

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

24.12.1997

 

 

Com. Reg. No.:

199708621D

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Subject is engaged in the wholesale of electronic components, and wiring accssories.

 

 

No. of Employees :

100

 

 

 

 

 

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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

199708621D

COMPANY NAME

:

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

FORMER NAME

:

SCHNEIDER OVERSEAS ASIA PTE LTD (01/04/1999)

INCORPORATION DATE

:

24/12/1997

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

50, KALLANG AVENUE, 339505, SINGAPORE.

BUSINESS ADDRESS

:

50, KALLANG AVENUE,, 339505, SINGAPORE.

TEL.NO.

:

65-64802000

FAX.NO.

:

N/A

CONTACT PERSON

:

LEONG HON FOONG ( DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF ELECTRONIC COMPONENTS, AND WIRING ACCSSORIES

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00

SALES

:

USD 62,619,407 [2016]

NET WORTH

:

USD 3,537,056 [2016]

STAFF STRENGTH

:

100 [2018]

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) wholesale of electronic components, and wiring accssories.

 

The immediate holding company of the Subject is SCHNEIDER ELECTRIC INDUSTRIES SAS, a company incorporated in FRANCE.

The ultimate holding company of the Subject is SCHNEIDER ELECTRIC SE, a company incorporated in FRANCE.

 

Former Address(es)

Address

As At Date

10 ANG MO KIO STREET 65, 01 - 01/03 TECHPOINT, 569059

N/A

 

Share Capital History

Date

Issue & Paid Up Capital

26/03/2018

SGD 100,000.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

SCHNEIDER ELECTRIC INDUSTRIES SAS

35, RUE JOSEPH MONIER 92500 RUEIL-MALMAISON FRANCE

T03UF0757

100,000.00

100.00

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

------

100,000.00

100.00

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

=====

+ Also Director



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

LEONG HON FOONG

Address

:

80B, YUK TONG AVENUE, RADIANCE @ BUKIT TIMAH, 596211, SINGAPORE.

IC / PP No

:

S6832724E

Nationality

:

SINGAPOREAN

Date of Appointment

:

17/06/2015


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

199608375D

SCHNEIDER ELECTRIC LOGISTICS ASIA PTE LTD

Director

17/06/2015

0.00

-

SGD250,527,877.00

2016

-

07/09/2017

2

199708621D

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

Director

17/06/2015

0.00

-

USD3,458,370.00

2016

-

26/03/2018

 

DIRECTOR 2

 

Name Of Subject

:

HIROKI ENDO

Address

:

33, ROCHESTER DRIVE, 10-08, THE ROCHESTER, 138638, SINGAPORE.

IC / PP No

:

G3268352K

Nationality

:

JAPANESE

Date of Appointment

:

11/09/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199708621D

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

Director

11/09/2017

0.00

-

USD3,458,370.00

2016

-

26/03/2018

 

DIRECTOR 3

 

Name Of Subject

:

DAMIEN DHELLEMMES

Address

:

69, KING'S CLOSE, KING'S GARDEN, 268217, SINGAPORE.

IC / PP No

:

G5455588T

Nationality

:

FRENCH

Date of Appointment

:

31/01/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199608375D

SCHNEIDER ELECTRIC LOGISTICS ASIA PTE LTD

Director

08/04/2013

0.00

-

SGD250,527,877.00

2016

-

07/09/2017

2

199708621D

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

Director

31/01/2017

0.00

-

USD3,458,370.00

2016

-

26/03/2018



MANAGEMENT

 

 

1)

Name of Subject

:

LEONG HON FOONG

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

MAZARS LLP

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHRISTOPHER LEE

IC / PP No

:

G5176910X

Address

:

57, COVE WAY, 01-07, SEASCAPE, 098308, SINGAPORE.

 

2)

Company Secretary

:

SHE YULAN

IC / PP No

:

S8128003G

Address

:

10, CHANGI BUSINESS PARK CENTRAL 2, 05-01, HANSAPOINT @ CBP, 486030, SINGAPORE.

 

3)

Company Secretary

:

CHU SI TIENG

IC / PP No

:

S8464823Z

Address

:

10, CHANGI BUSINESS PARK CENTRAL 2, 05-01, HANSAPOINT @ CBP, 486030, SINGAPORE.

 

 

BANKING


No Banker found in our databank.

 

ENCUMBRANCE (S)


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

 

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


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

No legal action was found in our databank.

No winding up petition was found in our databank.

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES



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

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

ELECTRONIC COMPONENTS, AND WIRING ACCSSORIES

 

Total Number of Employees:

 

YEAR

2018

2016

2015

GROUP

N/A

N/A

N/A

COMPANY

100

100

100

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of electronic components, and wiring accssories.

The Subject is engaged in the distribution of electronic parts and electronic communications equipment.

The Subject sells the products according to its customers' orders.

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

65 64802000

Current Telephone Number

:

65-64802000

Match

:

YES

Address Provided by Client

:

50 KALLANG AVENUE 339505

Current Address

:

50, KALLANG AVENUE,, 339505, SINGAPORE.

Match

:

YES

 

Other Investigations


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

He refused to disclose the fax number and bankers.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Erratic

[

2012 - 2016

]

Profit/(Loss) Before Tax

:

Increased

[

2012 - 2016

]

Return on Shareholder Funds

:

Favourable

[

97.78%

]

Return on Net Assets

:

Favourable

[

117.28%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The Subject's management have been efficient in controlling its operating costs. 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

[

14 Days

]

Debtor Ratio

:

Unfavourable

[

78 Days

]

Creditors Ratio

:

Favourable

[

1 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.03 Times

]

Current Ratio

:

Unfavourable

[

1.13 Times

]

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Nil

[

0.00 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

Although the turnover was erratic, the Subject had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : STABLE

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2013

2014

2015

2016

2017*

 

Population (Million)

5.40

5.47

5.54

5.61

5.61

Gross Domestic Products ( % )

5.1

3.9

2.2

2.4

3.6

Consumer Price Index

2.4

1.0

(0.5)

(0.5)

0.6

Total Imports (Million)

466,762.0

463,779.1

407,767.9

398,372.0

403,300.0

Total Exports (Million)

513,391.0

518,922.7

476,285.4

468,552.0

466,900.0

 

Unemployment Rate (%)

1.9

1.9

1.9

2.1

-

Tourist Arrival (Million)

15.46

15.01

15.23

16.28

-

Hotel Occupancy Rate (%)

86.3

85.5

84.0

83.1

84.7

Cellular Phone Subscriber (Million)

1.97

1.98

1.99

-

-

 

Registration of New Companies (No.)

37,288

41,589

34,243

35,227

37,395

Registration of New Companies (%)

9.8

11.5

(17.7)

2.9

6.2

Liquidation of Companies (No.)

17,369

18,767

21,384

23,218

22,379

Liquidation of Companies (%)

(5.3)

8.0

13.9

8.6

(3.6)

 

Registration of New Businesses (No.)

22,893

35,773

28,480

27,120

22,148

Registration of New Businesses (%)

1.70

56.30

(20.39)

(4.78)

(18.33)

Liquidation of Businesses (No.)

22,598

22,098

26,116

35,866

24,344

Liquidation of Businesses (%)

0.5

(2.2)

18.2

37.3

(32.1)

 

Bankruptcy Orders (No.)

1,992

1,757

1,776

1,797

1,638

Bankruptcy Orders (%)

14.0

(11.8)

1.0

1.2

(8.9)

Bankruptcy Discharges (No.)

2,584

3,546

3,499

4,359

2,030

Bankruptcy Discharges (%)

37.4

37.2

(1.3)

24.6

(53.4)

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

1.78

4.29

3.04

-

-

Fish Supply & Wholesale

(3.8)

(8.6)

(8.5)

(9.9)

-

 

Manufacturing #

Food, Beverages & Tobacco

97.9

99.4

100.0

103.7

110.3

Textiles

119.5

102.7

100.0

92.4

84.4

Wearing Apparel

334.1

212.6

100.0

83.4

88.2

Leather Products & Footwear

122.0

106.5

100.0

88.8

79.0

Wood & Wood Products

103.0

107.2

100.0

95.0

92.9

Paper & Paper Products

104.4

104.5

100.0

97.3

96.1

Printing & Media

113.8

105.968

100.0

85.1

73.1

Crude Oil Refineries

100.7

92.2

100.0

104.2

113.5

Chemical & Chemical Products

88.4

96.7

100.0

98.9

105.3

Pharmaceutical Products

101.421

109.4

100.0

113.8

96.0

Rubber & Plastic Products

109.497

109.2

100.0

91.4

93.7

Non-metallic Mineral

107.4

90.759

100.0

89.8

72.9

Basic Metals

77.2

99.3

100.0

106.2

108.3

Fabricated Metal Products

107.5

107.757

100.0

93.8

91.3

Machinery & Equipment

109.1

118.2

100.0

80.8

86.1

Electrical Machinery

87.4

97.871

100.0

101.5

111.7

Electronic Components

105.0

105.6

100.0

114.1

151.4

Transport Equipment

111.1

106.68

100.0

101.0

99.5

 

Construction

25.40

22.00

-

-

-

Real Estate

88.5

145.1

-

-

-

 

Services

Electricity, Gas & Water

6.70

6.50

-

-

-

Transport, Storage & Communication

9.80

14.20

-

-

-

Finance & Insurance

3.30

6.00

-

7.40

-

Government Services

6.50

6.30

-

-

-

Education Services

3.10

5.98

-

2.40

-

 

* Estimate / Preliminary

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



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale & retail trade sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the preceding quarter. Growth was supported by both the wholesale trade and retail trade segments. The wholesale trade segment was boosted by an increase in both domestic and foreign wholesale trade sales volume. In particular, the domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in the previous quarter. The strong performance in domestic wholesale trade was due to a surge in the sales of petroleum and petroleum products (14%), chemicals & chemical products (39%) and telecommunications & computers (18%).

Similarly, the foreign wholesale trade index rose by 10% in the third quarter of 2015, accelerating from the 6.9% rise in the previous quarter. Growth was driven by improvements in the sales of petroleum & petroleum products (21%), metals, timber & construction materials (10%) and general wholesale trade (8.8%).

Overall retail trade sales volume also recorded resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth was supported by a surge in the volume of motor vehicle sales (44%), which was in turn due to a substantial increase in the supply of Certificate of Entitlements. Excluding motor vehicles, retail sales volume increased at a much slower pace of 0.7% over the same period. The increase in retail sales volume (excluding motor vehicles) was due to improved non-discretionary goods sales. For instance, the sales of medical goods & toiletries and department store goods rose by 8.1% and 3.6% respectively.

According to the Retail News Asia, Food and beverage has overtaken fashion as the primary driver of demand for retail real estate in Singapore. Despite declining retail sales and consumer spending, the prime retail sector remained in good shape during the third quarter 2015.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1997, the Subject is a Private Limited company, focusing on wholesale of electronic components, and wiring accssories. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Presently, the issued and paid up capital of the Subject stands at SGD 100,000. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise.

 
Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a moderate size company, the Subject has a total workforce of 100 employees in its business operations. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

 
Despite the lower turnover, the Subject's pre-tax profit have increased compared to the previous year. The higher profit could be due to better control of its operating costs and efficiency in utilising its resources. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 3,537,056, the Subject should be able to maintain its business in the near terms.

 
The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.


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

 
The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.


Based on the above condition, we recommend credit be granted to the Subject promptly.



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

SCHNEIDER ELECTRIC OVERSEAS ASIA 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

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

62,619,407

74,340,365

31,957,399

24,158,967

16,506,306

Other Income

383,488

26,200

1,263,961

54,149

88,852

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

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

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

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

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

Total Turnover

63,002,895

74,366,565

33,221,360

24,213,116

16,595,158

Costs of Goods Sold

(49,567,561)

(62,187,233)

(24,987,805)

(18,685,680)

(13,657,294)

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

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

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

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

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

Gross Profit

13,435,334

12,179,332

8,233,555

5,527,436

2,937,864

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

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

4,148,299

3,318,992

1,271,263

3,696,402

2,314,709

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

4,148,299

3,318,992

1,271,263

3,696,402

2,314,709

Taxation

(689,929)

(569,540)

(403,342)

(645,160)

(364,233)

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

3,458,370

2,749,452

867,921

3,051,242

1,950,476

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

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

8,619,091

5,869,639

5,001,718

1,950,476

5,206,324

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

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

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

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

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

As restated

8,619,091

5,869,639

5,001,718

1,950,476

5,206,324

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

12,077,461

8,619,091

5,869,639

5,001,718

7,156,800

DIVIDENDS - Ordinary (paid & proposed)

(8,600,000)

-

-

-

(5,206,324)

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

3,477,461

8,619,091

5,869,639

5,001,718

1,950,476

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

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

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

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

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

INTEREST EXPENSE (as per notes to P&L)

Others

-

-

-

-

334

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

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

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

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

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

-

-

-

-

334

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

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

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

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

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

DEPRECIATION (as per notes to P&L)

146,244

113,603

70,731

26,596

12,019

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

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

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

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

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

Total Amortization And Depreciation

146,244

113,603

70,731

26,596

12,019

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

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

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

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

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

 

 

 

 

 

 

 

 

BALANCE SHEET

 

 

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

411,922

490,701

271,329

388,394

15,141

LONG TERM INVESTMENTS/OTHER ASSETS

Subsidiary companies

100,000

100,000

100,000

-

-

Deferred assets

71,353

115,422

-

204

897

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

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

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

171,353

215,422

100,000

204

897

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

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

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

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

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

TOTAL LONG TERM ASSETS

583,275

706,123

371,329

388,598

16,038

CURRENT ASSETS

Stocks

2,343,315

2,230,099

781,199

811,918

130,666

Trade debtors

13,463,769

20,227,004

9,758,232

3,961,654

1,657,775

Other debtors, deposits & prepayments

698,821

1,159,675

967,916

611,369

112,553

Short term loans & advances

6,801,779

12,820,398

6,239,018

-

-

Amount due from holding company

-

-

-

-

10,283

Amount due from subsidiary companies

-

-

412,055

-

-

Amount due from related companies

243,712

4,502,261

4,525,931

9,756,032

5,336,922

Cash & bank balances

1,749,229

2,186,620

666,367

407,480

-

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

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

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

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

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

TOTAL CURRENT ASSETS

25,300,625

43,126,057

23,350,718

15,548,453

7,248,199

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

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

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

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

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

TOTAL ASSET

25,883,900

43,832,180

23,722,047

15,937,051

7,264,237

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

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

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

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

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

CURRENT LIABILITIES

Trade creditors

94,071

81,366

63,278

110,921

97,006

Other creditors & accruals

9,084,086

19,094,837

6,061,793

3,761,923

2,185,992

Deposits from customers

1,550,347

3,715,951

2,855,325

-

-

Amounts owing to related companies

10,336,772

10,818,017

8,123,459

6,143,833

2,447,009

Provision for taxation

861,849

52,751

559,584

847,646

503,744

Other liabilities

419,719

1,390,572

116,289

11,415

20,415

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

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

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

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

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

TOTAL CURRENT LIABILITIES

22,346,844

35,153,494

17,779,728

10,875,738

5,254,166

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

2,953,781

7,972,563

5,570,990

4,672,715

1,994,033

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

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

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

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

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

LONG TERM LIABILITIES

Deferred taxation

-

-

13,085

-

-

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

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

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

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

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

TOTAL LONG TERM LIABILITIES

-

-

13,085

-

-

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

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

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

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

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

TOTAL NET ASSETS

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

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

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

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

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

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

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

59,595

59,595

59,595

59,595

59,595

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

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

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

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

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

TOTAL SHARE CAPITAL

59,595

59,595

59,595

59,595

59,595

RESERVES

Retained profit/(loss) carried forward

3,477,461

8,619,091

5,869,639

5,001,718

1,950,476

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

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

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

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

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

TOTAL RESERVES

3,477,461

8,619,091

5,869,639

5,001,718

1,950,476

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

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

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

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

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

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

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

SCHNEIDER ELECTRIC OVERSEAS ASIA PTE LTD

 

TYPES OF FUNDS

Cash

1,749,229

2,186,620

666,367

407,480

0

Net Liquid Funds

1,749,229

2,186,620

666,367

407,480

0

Net Liquid Assets

610,466

5,742,464

4,789,791

3,860,797

1,863,367

Net Current Assets/(Liabilities)

2,953,781

7,972,563

5,570,990

4,672,715

1,994,033

Net Tangible Assets

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

Net Monetary Assets

610,466

5,742,464

4,776,706

3,860,797

1,863,367

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

4,148,299

3,318,992

1,271,263

3,696,402

2,315,043

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

4,294,543

3,432,595

1,341,994

3,722,998

2,327,062

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

0

0

Total Liabilities

22,346,844

35,153,494

17,792,813

10,875,738

5,254,166

Total Assets

25,883,900

43,832,180

23,722,047

15,937,051

7,264,237

Net Assets

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

Net Assets Backing

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

Shareholders' Funds

3,537,056

8,678,686

5,929,234

5,061,313

2,010,071

Total Share Capital

59,595

59,595

59,595

59,595

59,595

Total Reserves

3,477,461

8,619,091

5,869,639

5,001,718

1,950,476

GROWTH RATIOS (Year on Year) (%)

Revenue

(15.77)

132.62

32.28

46.36

-

Proft/(Loss) Before Tax

24.99

161.08

(65.61)

59.69

-

Proft/(Loss) After Tax

25.78

216.79

(71.56)

56.44

-

Total Assets

(40.95)

84.77

48.85

119.39

-

Total Liabilities

(36.43)

97.57

63.60

106.99

-

LIQUIDITY (Times)

Cash Ratio

0.08

0.06

0.04

0.04

0

Liquid Ratio

1.03

1.16

1.27

1.35

1.35

Current Ratio

1.13

1.23

1.31

1.43

1.38

WORKING CAPITAL CONTROL (Days)

Stock Ratio

14

11

9

12

3

Debtors Ratio

78

99

111

60

37

Creditors Ratio

1

0

1

2

3

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

0

0

Liabilities Ratio

6.32

4.05

3.00

2.15

2.61

Times Interest Earned Ratio

0

0

0

0

6,931.27

Assets Backing Ratio

59.35

145.63

99.49

84.93

33.73

PERFORMANCE RATIO (%)

Operating Profit Margin

6.62

4.46

3.98

15.30

14.02

Net Profit Margin

5.52

3.70

2.72

12.63

11.82

Return On Net Assets

117.28

38.24

21.44

73.03

115.17

Return On Capital Employed

117.28

38.24

21.39

73.03

115.17

Return On Shareholders' Funds/Equity

97.78

31.68

14.64

60.29

97.04

Dividend Pay Out Ratio (Times)

2.49

0

0

0

2.67

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

SGD

1

INR 49.65

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.