|
|
|
MIRA INFORM REPORT
|
Report No. : |
507287 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DMG ASIA PTE. LTD. |
|
|
|
|
Registered Office : |
3, Tuas Link 1, 638584 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
05.07.2006 |
|
|
|
|
Com. Reg. No.: |
200609815K |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in trading of
cutting tools and industrial equipment and precision machines, machining. |
|
|
|
|
No. of Employees : |
50 [2017] |
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. |
: |
200609815K |
|
COMPANY
NAME |
: |
DMG
ASIA PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
05/07/2006 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
3, TUAS
LINK 1, 638584, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
3 TUAS
LINK 1, 638584, SINGAPORE. |
|
TEL.NO. |
: |
65-66606688 |
|
FAX.NO. |
: |
65-66606699 |
|
CONTACT
PERSON |
: |
JAYARAMAN
RAMESH ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF CUTTING TOOLS AND INDUSTRIAL EQUIPMENT AND PRECISION MACHINES,MACHINING |
|
ISSUED AND
PAID UP CAPITAL |
: |
6,000,000.00
ORDINARY SHARE, OF A VALUE OF EUR 6,000,000.00 |
|
SALES |
: |
EUR
246,151,951 [2016] |
|
NET
WORTH |
: |
EUR
24,009,649 [2016] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
SLOW
BUT CORRECT |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as a /
as an) trading of cutting tools and industrial equipment and precision
machines,machining.
The
immediate holding company of the Subject is DMG MORI SALES AND SERVICE HOLDING
AG, a company incorporated in SWITZERLAND.
The
ultimate holding company of the Subject is DMG MORI CO., a company incorporated
in GERMANY.
The
intermediate holding company of the Subject is DMG MORI AKTIENGESELLSCHAFT, a
company incorporated in GERMANY.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
07/05/2018 |
EUR
6,000,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
DMG
MORI SALES AND SERVICE HOLDING AG |
SULZER-ALLEE,
70, 8404, WINTERTHUR SWITZERLAND |
T14UF2442 |
6,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
RAJEEV ANAND |
|
Address |
: |
19,
KENDALE, LEVERSTOCK GREEN HEMEL HEMBSTEAD HERTS HP38NN, UNITED KINGDOM. |
|
IC / PP
No |
: |
099097682/740215113/F5594987P |
|
Nationality |
: |
BRITISH |
|
Date of
Appointment |
: |
29/08/2006 |
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 |
200609815K |
DMG
ASIA PTE. LTD. |
Director |
29/08/2006 |
0.00 |
- |
EUR(570,340.00) |
2016 |
- |
07/05/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
JAYARAMAN
RAMESH |
|
Address |
: |
3, TUAS
LINK 1, 638584, SINGAPORE. |
|
IC / PP
No |
: |
G6022209L |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
08/11/2007 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200609815K |
DMG
ASIA PTE. LTD. |
Director |
08/11/2007 |
0.00 |
- |
EUR(570,340.00) |
2016 |
- |
07/05/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
JAYARAMAN
RAMESH |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
KPMG
LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
YEO
PIAH CHUAN |
|
IC / PP
No |
: |
S1186141E |
|
|
Address |
: |
12F, SIME
ROAD, 288293, 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 |
: |
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 |
: |
CUTTING
TOOLS AND INDUSTRIAL EQUIPMENT AND PRECISION MACHINES,MACHINING |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
50 |
50 |
50 |
||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of cutting
tools and industrial equipment and precision machines,machining.
The Subject is a leader of cutting machine tools for turning and milling, as
well as a comprehensive supplier in additive manufacturing using powder nozzle
and powder bed.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6566606688 |
|
Current
Telephone Number |
: |
65-66606688 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
3 TUAS
LINK 1 638584 |
|
Current
Address |
: |
3 TUAS
LINK 1, 638584, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided limited
information.
The provided name DMG MORI AXIS VMC MACHINE is the product's name.
He refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 -
2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2011 -
2016 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
(2.38%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(1.50%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The Subject incurred losses during the year due to the
inefficient control of its operating costs. The Subject's unfavourable
returns on shareholders' funds indicate the management's inefficiency in
utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
The Subject's
stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in stocks. 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 |
[ |
1.13
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.25
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 |
[ |
(2.88
Times) |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject may
be vulnerable to default in servicing the interest. 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 : |
||||||
|
The
Subject's losses increased but its turnover showed a fluctuating trend.
This indicate the Subject was slowly losing its market share due to its
competitors. 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's interest cover was negative, indicating that it
did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term
financing or capital injection, it may not be able to service its interest
and repay the loans. 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 : LIMITED |
||||||
|
|
||||||
SINGAPORE ECONOMIC /
INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population
(Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross
Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer
Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total
Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total
Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment
Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist
Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy
Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular
Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration
of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation
of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation
of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration
of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration
of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation
of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation
of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy
Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy
Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy
Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish
Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing
Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather
Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood
& Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper
& Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing
& Media |
113.8 |
105.968
|
100.0 |
85.1 |
73.1 |
|
Crude
Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical
& Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical
Products |
101.421
|
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber
& Plastic Products |
109.497
|
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic
Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic
Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated
Metal Products |
107.5 |
107.757
|
100.0 |
93.8 |
91.3 |
|
Machinery
& Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical
Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic
Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport
Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real
Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport,
Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance
& Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government
Services |
6.50 |
6.30 |
- |
- |
- |
|
Education
Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
*
Estimate / Preliminary |
|||||
|
# Based
on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY
: |
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
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
DMG
ASIA PTE. LTD. |
|
Financial
Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
EUR |
EUR |
EUR |
EUR |
|
TURNOVER |
246,151,951 |
260,235,513 |
238,464,311 |
235,679,034 |
|
Other Income |
11,058 |
33,316 |
27,298 |
7,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
246,163,009 |
260,268,829 |
238,491,609 |
235,686,966 |
|
Costs
of Goods Sold |
(239,399,159) |
(252,423,772) |
(228,920,444) |
(230,105,001) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
6,763,850 |
7,845,057 |
9,571,165 |
5,581,965 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(484,253) |
703,313 |
4,826,592 |
747,405 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(484,253) |
703,313 |
4,826,592 |
747,405 |
|
Taxation |
(86,087) |
(301,114) |
(830,652) |
(213,327) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(570,340) |
402,199 |
3,995,940 |
534,078 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As
previously reported |
18,579,989 |
18,177,790 |
14,181,850 |
32,921,072 |
|
Prior
year adjustment |
- |
- |
- |
(19,273,300) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
18,579,989 |
18,177,790 |
14,181,850 |
13,647,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
18,009,649 |
18,579,989 |
18,177,790 |
14,181,850 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
18,009,649 |
18,579,989 |
18,177,790 |
14,181,850 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||||
|
Others |
124,925 |
116,361 |
167,346 |
184,072 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
124,925 |
116,361 |
167,346 |
184,072 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
70,447 |
77,304 |
78,166 |
76,674 |
|
AMORTIZATION |
185 |
83 |
83 |
275 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
70,632 |
77,387 |
78,249 |
76,949 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE SHEET
|
|
DMG
ASIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
||||
|
FIXED
ASSETS |
31,545 |
82,796 |
151,268 |
196,659 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
INTANGIBLE
ASSETS |
||||
|
Computer
software |
223 |
103 |
186 |
269 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
223 |
103 |
186 |
269 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
31,768 |
82,899 |
151,454 |
196,928 |
|
CURRENT
ASSETS |
||||
|
Stocks |
12,197,240 |
6,442,204 |
4,781,687 |
4,624,547 |
|
Trade
debtors |
33,056,650 |
25,509,611 |
40,942,413 |
34,942,361 |
|
Other
debtors, deposits & prepayments |
280,197 |
426,021 |
293,881 |
591,301 |
|
Amount
due from holding company |
65,120,864 |
63,262,434 |
75,127,202 |
75,918,800 |
|
Amount
due from related companies |
10,010,787 |
26,401,191 |
11,864,125 |
54,319 |
|
Cash
& bank balances |
5,080,006 |
3,870,669 |
4,040,446 |
1,268,942 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
125,745,744 |
125,912,130 |
137,049,754 |
117,400,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
125,777,512 |
125,995,029 |
137,201,208 |
117,597,198 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade
creditors |
47,828 |
79,117 |
55,512 |
66,736 |
|
Other
creditors & accruals |
21,735,807 |
37,631,185 |
21,115,998 |
21,370,718 |
|
Deposits
from customers |
22,347,616 |
21,508,528 |
17,271,444 |
16,194,140 |
|
Other
liabilities & accruals |
- |
- |
23,875,216 |
13,303,350 |
|
Amounts
owing to related companies |
55,731,817 |
40,377,502 |
48,447,728 |
44,991,815 |
|
Provision
for taxation |
510,386 |
510,386 |
1,061,755 |
489,666 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
100,373,454 |
100,106,718 |
111,827,653 |
96,416,425 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
25,372,290 |
25,805,412 |
25,222,101 |
20,983,845 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
||||
|
Deferred
taxation |
1,394,409 |
1,308,322 |
1,195,765 |
998,923 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
1,394,409 |
1,308,322 |
1,195,765 |
998,923 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
24,009,649 |
24,579,989 |
24,177,790 |
20,181,850 |
|
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
||||
|
SHARE
CAPITAL |
||||
|
Ordinary
share capital |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
RESERVES |
||||
|
Retained
profit/(loss) carried forward |
18,009,649 |
18,579,989 |
18,177,790 |
14,181,850 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
18,009,649 |
18,579,989 |
18,177,790 |
14,181,850 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
24,009,649 |
24,579,989 |
24,177,790 |
20,181,850 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
DMG
ASIA PTE. LTD. |
|
TYPES
OF FUNDS |
||||
|
Cash |
5,080,006 |
3,870,669 |
4,040,446 |
1,268,942 |
|
Net
Liquid Funds |
5,080,006 |
3,870,669 |
4,040,446 |
1,268,942 |
|
Net
Liquid Assets |
13,175,050 |
19,363,208 |
20,440,414 |
16,359,298 |
|
Net
Current Assets/(Liabilities) |
25,372,290 |
25,805,412 |
25,222,101 |
20,983,845 |
|
Net
Tangible Assets |
24,009,426 |
24,579,886 |
24,177,604 |
20,181,581 |
|
Net Monetary
Assets |
11,780,641 |
18,054,886 |
19,244,649 |
15,360,375 |
|
PROFIT
& LOSS ITEMS |
||||
|
Earnings
Before Interest & Tax (EBIT) |
(359,328) |
819,674 |
4,993,938 |
931,477 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(288,696) |
897,061 |
5,072,187 |
1,008,426 |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
101,767,863 |
101,415,040 |
113,023,418 |
97,415,348 |
|
Total
Assets |
125,777,512 |
125,995,029 |
137,201,208 |
117,597,198 |
|
Net
Assets |
24,009,649 |
24,579,989 |
24,177,790 |
20,181,850 |
|
Net
Assets Backing |
24,009,649 |
24,579,989 |
24,177,790 |
20,181,850 |
|
Shareholders'
Funds |
24,009,649 |
24,579,989 |
24,177,790 |
20,181,850 |
|
Total
Share Capital |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
Total
Reserves |
18,009,649 |
18,579,989 |
18,177,790 |
14,181,850 |
|
GROWTH
RATIOS (Year on Year) (%) |
||||
|
Revenue |
(5.41) |
9.13 |
1.18 |
(35.85) |
|
Proft/(Loss)
Before Tax |
(168.85) |
(85.43) |
545.78 |
(90.23) |
|
Proft/(Loss)
After Tax |
(241.81) |
(89.93) |
648.19 |
(90.94) |
|
Total
Assets |
(0.17) |
(8.17) |
16.67 |
(37.38) |
|
Total
Liabilities |
0.35 |
(10.27) |
16.02 |
(37.77) |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.05 |
0.04 |
0.04 |
0.01 |
|
Liquid
Ratio |
1.13 |
1.19 |
1.18 |
1.17 |
|
Current
Ratio |
1.25 |
1.26 |
1.23 |
1.22 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
18 |
9 |
7 |
7 |
|
Debtors
Ratio |
49 |
36 |
63 |
54 |
|
Creditors
Ratio |
0 |
0 |
0 |
0 |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
4.24 |
4.13 |
4.67 |
4.83 |
|
Times
Interest Earned Ratio |
(2.88) |
7.04 |
29.84 |
5.06 |
|
Assets
Backing Ratio |
4.00 |
4.10 |
4.03 |
3.36 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
(0.20) |
0.27 |
2.02 |
0.32 |
|
Net
Profit Margin |
(0.23) |
0.15 |
1.68 |
0.23 |
|
Return
On Net Assets |
(1.50) |
3.33 |
20.66 |
4.62 |
|
Return
On Capital Employed |
(1.41) |
3.17 |
19.68 |
4.40 |
|
Return
On Shareholders' Funds/Equity |
(2.38) |
1.64 |
16.53 |
2.65 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
|
SGD |
1 |
INR 50.33 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.