|
|
|
MIRA INFORM REPORT
|
Report No. : |
507225 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SINO MULTI BIZ PTE LTD |
|
|
|
|
Formerly Known As : |
SINO
GRAINS (PTE) LTD (02/03/1998) |
|
|
|
|
Registered Office : |
160, Robinson Road, 21-01, Spore Business Federation Ctr, 068914 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
13.03.1996 |
|
|
|
|
Com. Reg. No.: |
199601762C |
|
|
|
|
Legal Form : |
Exempt
Private (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Commodity Especially Food Products, Spices, Beans, Pulses. |
|
|
|
|
No. of Employees : |
1 [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 : |
Slow but Correct |
|
|
|
|
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 electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s 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 from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Growth recovered to 3.6% in 2017 with a strengthening global economy.
The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population. 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 signatory of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and a party to the Regional Comprehensive Economic Partnership (RCEP) negotiations with 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. |
: |
199601762C |
||||
|
COMPANY
NAME |
: |
SINO
MULTI BIZ PTE LTD |
||||
|
FORMER
NAME |
: |
SINO
GRAINS (PTE) LTD (02/03/1998) |
||||
|
INCORPORATION
DATE |
: |
13/03/1996 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
160,
ROBINSON ROAD, 21-01, SPORE BUSINESS FEDERATION CTR, 068914, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
160,
ROBINSON ROAD, 21-01, SPORE BUSINESS FEDERATION CTR,, 068914, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63721303 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
CONTACT
PERSON |
: |
AHMED
MOHMED SALEHBHAI ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF COMMODITY ESPECIALLY FOOD PRODUCTS, SPICES,BEANS, PULSES |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
300,000.00
ORDINARY SHARE, OF A VALUE OF SGD 300,000.00 |
||||
|
SALES |
: |
USD
8,706,179 [2017] |
||||
|
NET
WORTH |
: |
USD
1,009,855 [2017] |
||||
|
STAFF
STRENGTH |
: |
1
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
||||
HISTORY/ BACKGROUND
The Subject is an exempt private company
whose shares are not held by any corporate body and has no more than 20 shareholders
who are all natural persons. An exempt company is a type of private limited
company. 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, suing or be sued by other companies.
An exempt private company with an annual
turnover of ≤ SGD10 million, or total assets ≤ SGD10 million or
number of employees ≤ 50 (meet at least 2 criteria for immediate past two
financial years) are exempted from statutory auditing requirements. The Subject
is not required to have their accounts audited. However, the Subject will
prepare unaudited accounts for purposes of AGMs and filing with Registry Office
if it is unable to meet all its obligations as and when they fall due.
An exempt private company with an annual
turnover of more than SGD10 million, or total assets more than SGD10 million or
number of employees more than 50 (meet at least 2 criteria for immediate past
two financial years) are required to file the audited financial.
The Subject is principally engaged in the (as
a / as an) trading of commodity especially food products, spices, beans,
pulses.
Former
Address(es)
|
Address |
As
At Date |
|
111,
NORTH BRIDGE ROAD, 16-04, PENINSULA PLAZA, 179098 |
N/A |
|
10,
ANSON ROAD, 21-04, INTERNATIONAL PLAZA, 079903 |
N/A |
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
03/05/2018 |
SGD
300,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
AHMED
MOHMED SALEHBHAI + |
240
PASIR RIS STREET 21 07 - 41, 510240, SINGAPORE. |
S1840604G |
150,000.00 |
50.00 |
|
ARSHAD
ILYAS + |
37
PUNGGOL FIELD 15 - 29 , PRIVE, 828809, SINGAPORE. |
S2658652F |
150,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
300,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
DIRECTOR
1
|
Name
Of Subject |
: |
AHMED
MOHMED SALEHBHAI |
|
Address |
: |
240
PASIR RIS STREET 21 07 - 41, 510240, SINGAPORE. |
|
Other
Address(es) |
: |
APT.BLK.240,
PASIR RIS STREET 21#07-41, SINGAPORE 510240. |
|
IC
/ PP No |
: |
S1840604G |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
17/02/1998 |
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 |
930243X |
AGRIOIL
INDUSTRIES (M) SDN. BHD. |
Shareholder |
- |
50,000.00 |
10.00 |
- |
2016 |
Disolved
by Member Voluntary (29/11/2011) |
23/04/2018 |
|
2 |
911898T |
AGRITECH
INDUSTRIES (M) SDN. BHD. |
Director |
16/08/2010 |
1,555,476.00 |
25.00 |
MYR(1,052,958.00) |
2016 |
- |
23/04/2018 |
|
3 |
199601762C |
SINO
MULTI BIZ PTE LTD |
Director |
17/02/1998 |
150,000.00 |
50.00 |
USD6,868.00 |
2017 |
- |
03/05/2018 |
|
4 |
569183D |
SINO
MULTI BIZ SDN. BHD. |
Director |
18/01/2002 |
1.00 |
25.00 |
MYR(3,268.00) |
2007 |
Disolved
by Registrar (23/09/2009) |
23/04/2018 |
DIRECTOR
2
|
Name
Of Subject |
: |
ARSHAD
ILYAS |
|
Address |
: |
37
PUNGGOL FIELD 15 - 29 , PRIVE, 828809, SINGAPORE. |
|
Other
Address(es) |
: |
-
102B, PUNGGOL FIELD, 02 - 430, 822102, SINGAPORE. -
BLK 250 PASIR RIS STREET 21, #07-133 SINGAPORE 510240 |
|
IC
/ PP No |
: |
S2658652F |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
14/03/1996 |
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 |
911898T |
AGRITECH
INDUSTRIES (M) SDN. BHD. |
Director |
16/08/2010 |
1,555,476.00 |
25.00 |
MYR(1,052,958.00) |
2016 |
- |
23/04/2018 |
|
2 |
199601762C |
SINO
MULTI BIZ PTE LTD |
Director |
14/03/1996 |
150,000.00 |
50.00 |
USD6,868.00 |
2017 |
- |
03/05/2018 |
|
3 |
569183D |
SINO
MULTI BIZ SDN. BHD. |
Director |
18/01/2002 |
1.00 |
25.00 |
MYR(3,268.00) |
2007 |
Disolved
by Registrar (23/09/2009) |
23/04/2018 |
MANAGEMENT
|
1)
|
Name
of Subject |
: |
AHMED
MOHMED SALEHBHAI |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
Auditor |
: |
T
RAVI & CO. |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
1)
|
Company
Secretary |
: |
RAYEES
AHAMED MAHAJABEEN |
|
IC
/ PP No |
: |
S7673433Z |
|
|
Address |
: |
44,
OWEN ROAD, 05-315, 210044, SINGAPORE. |
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name |
: |
ABN
AMRO BANK N.V. |
|
2)
|
Name |
: |
HABIB
BANK LTD |
ENCUMBRANCE (S)
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
200201286 |
18/03/2002 |
N/A |
HABIB
BANK LIMITED |
- |
Unsatisfied |
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 |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods
Traded |
: |
COMMODITY
ESPECIALLY FOOD PRODUCTS, SPICES,BEANS, PULSES |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2014 |
2013 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
1 |
1 |
1 |
1 |
|||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of commodity
especially food products, spices, beans, pulses.
The Subject is into the multi agri food business.
CURRENT INVESTIGATION
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63721303 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
160
ROBINSON ROAD, #21-01 SBF CENTRE, 068914 |
|
Current
Address |
: |
160,
ROBINSON ROAD, 21-01, SPORE BUSINESS FEDERATION CTR,, 068914, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject's registered office and he
provided limited information.
He refused to disclose the fax number.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
15.44% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
66.19% |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
0.68% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
2.18% |
] |
|
|
The
higher turnover could be attributed to the favourable market condition and
the Subject could be gaining the market share progressively.The Subject's
profit fell sharply because of the high operating costs incurred. 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 |
[ |
47
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
13
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 |
[ |
1.52
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.52
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 |
[ |
1.45
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.54
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 had increased, its profits had declined over the same
corresponding period. This could be due to the stiffer market competition and
/ or higher operating costs which lowered the Subject's profit margin. 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) |
INDUSTRY ANALYSIS
|
INDUSTRY
: |
TRADING |
|
According
to the Ministry of Trade and Industry, the wholesale & retail trade
sector expanded to 3.0% in the fourth quarter of 2017, moderating from the
3.3% growth in the previous quarter. The wholesale trade segment was boosted
by an improvement in foreign wholesale sales volume, which more than offset
the weakness in domestic wholesale sales volume. For the whole of 2017, the
sector expanded by 2.3%, faster than the 1.0% growth in 2016. The improvement
in growth can be attributed to the wholesale segment. |
|
|
The
domestic wholesale sales volume fell by 1.1% in the fourth quarter 2017,
reversing the 2.0% growth in the preceding quarter. The poorer outturn was
led by declines in the sales volume of household equipment & furniture
(-27%) and general wholesale merchandise (-19%), which outweighed the
increase in the sales volume of telecommunications & computers (20%). For
the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On
the other hand, foreign wholesale sales volume rose to 6.2% in the fourth
quarter 2017, a step-up from the 5.1% growth in the preceding quarter. Growth
was driven by expansions in the sales of petroleum & petroleum-related
products (11%t), telecommunications & computers (19%) and electronic
components (16%). However, growth was partly offset by a 20% decline in the
sales volume of metals, timber & construction materials. For the full
year 2017, the foreign wholesale trade index rose by 3.6%, faster than the
increase of 1.5% in the previous year. |
|
|
Besides,
retail sales volume rose by 2.1% in the fourth quarter 2017, improving from
the 0.9% growth recorded in the third quarter. Growth was supported by
improvements in both motor vehicle and non-motor vehicle sales volumes. While
motor vehicle sales benefitted from an on-year increase in COE supply, growth
in non-motor vehicle sales came on the back of an improvement in consumer
sentiments. Notably, the sales volume of discretionary goods such as
recreational goods, computer & telecommunication equipment and wearing apparel
& footwear grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For
the full year 2017, retail sales volume expanded by 1.3%, similar to the 1.5%
growth recorded in 2016. Growth was driven by both motor vehicle sales and
non-motor vehicle sales, which the former rising by 1.5% and the latter
increasing by 1.3%. The rise in non-motor vehicle sales was underpinned by
higher sales of discretionary goods. For instance, the sales volume of
recreational goods (3.9%), watches & jewellery (2.4%), computer &
telecommunications equipment (1.7%) and wearing apparel & footwear (1.5%)
improved in 2017. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated
in 1996, the Subject is an Exempt Private company, focusing on trading of
commodity especially food products, spices,beans, pulses. The Subject has
been in business for over two decades. It has built up a strong clientele
base and satisfactory reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. Presently, the issued and paid up capital of the Subject
stands at SGD 300,000. We considered that the Subject's business position in
the market is much dependent on the efforts of its directors. |
PROFIT AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
SINO
MULTI BIZ PTE LTD |
Note: The Subject is an
Exempt Private Company and it is not required by law to file its financials for
public view. The below financials are the last financial that submitted by the
Subject to the Registrar before changed to Exempt Private Company.
|
Financial
Year End |
2017-03-31 |
2016-03-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
8,706,179 |
7,541,936 |
|
Other
Income |
4,972 |
7,875 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
8,711,151 |
7,549,811 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
6,868 |
20,316 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
6,868 |
20,316 |
|
Taxation |
- |
(768) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
6,868 |
19,548 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
817,802 |
798,254 |
|
---------------- |
---------------- |
|
|
As
restated |
817,802 |
798,254 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
824,670 |
817,802 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
824,670 |
817,802 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
Bank
overdraft |
15,136 |
12,494 |
|
---------------- |
---------------- |
|
|
15,136 |
12,494 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
3,457 |
2,223 |
|
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
3,457 |
2,223 |
|
============= |
============= |
BALANCE SHEET
|
SINO
MULTI BIZ PTE LTD |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
2,754 |
2,509 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
2,754 |
2,509 |
|
CURRENT
ASSETS |
||
|
Trade
debtors |
1,117,179 |
1,008,458 |
|
Other
debtors, deposits & prepayments |
1,791,710 |
1,196,992 |
|
Cash
& bank balances |
25,847 |
333,457 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
2,934,736 |
2,538,907 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
2,937,490 |
2,541,416 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
309,735 |
262,605 |
|
Other
creditors & accruals |
58,818 |
5,618 |
|
Bank
overdraft |
726,465 |
789,224 |
|
Other
borrowings |
831,660 |
479,650 |
|
Provision
for taxation |
957 |
1,332 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
1,927,635 |
1,538,429 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,007,101 |
1,000,478 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,009,855 |
1,002,987 |
|
============= |
============= |
|
|
FINANCED
BY: |
||
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
185,185 |
185,185 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
185,185 |
185,185 |
|
RESERVES |
||
|
Retained
profit/(loss) carried forward |
824,670 |
817,802 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
824,670 |
817,802 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
1,009,855 |
1,002,987 |
|
============= |
============= |
|
FINANCIAL RATIO
|
SINO
MULTI BIZ PTE LTD |
|
TYPES
OF FUNDS |
||
|
Cash |
25,847 |
333,457 |
|
Net
Liquid Funds |
(700,618) |
(455,767) |
|
Net
Liquid Assets |
1,007,101 |
1,000,478 |
|
Net
Current Assets/(Liabilities) |
1,007,101 |
1,000,478 |
|
Net
Tangible Assets |
1,009,855 |
1,002,987 |
|
Net
Monetary Assets |
1,007,101 |
1,000,478 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
22,004 |
32,810 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
25,461 |
35,033 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
1,558,125 |
1,268,874 |
|
Total
Liabilities |
1,927,635 |
1,538,429 |
|
Total
Assets |
2,937,490 |
2,541,416 |
|
Net
Assets |
1,009,855 |
1,002,987 |
|
Net
Assets Backing |
1,009,855 |
1,002,987 |
|
Shareholders'
Funds |
1,009,855 |
1,002,987 |
|
Total
Share Capital |
185,185 |
185,185 |
|
Total
Reserves |
824,670 |
817,802 |
|
GROWTH
RATIOS (Year on Year) (%) |
||
|
Revenue |
15.44 |
- |
|
Proft/(Loss)
Before Tax |
(66.19) |
- |
|
Proft/(Loss)
After Tax |
(64.87) |
- |
|
Total
Assets |
15.58 |
- |
|
Total
Liabilities |
25.30 |
- |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.01 |
0.22 |
|
Liquid
Ratio |
1.52 |
1.65 |
|
Current
Ratio |
1.52 |
1.65 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
0 |
0 |
|
Debtors
Ratio |
47 |
49 |
|
Creditors
Ratio |
13 |
13 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
1.54 |
1.27 |
|
Liabilities
Ratio |
1.91 |
1.53 |
|
Times
Interest Earned Ratio |
1.45 |
2.63 |
|
Assets
Backing Ratio |
5.45 |
5.42 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
0.08 |
0.27 |
|
Net
Profit Margin |
0.08 |
0.26 |
|
Return
On Net Assets |
2.18 |
3.27 |
|
Return
On Capital Employed |
1.27 |
1.83 |
|
Return
On Shareholders' Funds/Equity |
0.68 |
1.95 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
|
NOTES
TO ACCOUNTS |
||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.08 |
|
SGD |
1 |
INR 50.18 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.