|
|
|
MIRA INFORM REPORT
|
Report No. : |
508105 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL POWER SOURCE PTE LTD |
|
|
|
|
Registered Office : |
140, Robinson Road, 10-08, Crown At Robinson, 068907 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
05.04.2004 |
|
|
|
|
Com. Reg. No.: |
200404078-N |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Trading of
batteries, semiconductor devices, uninterrupted power supply (ups) systems,
modems and others. |
|
|
|
|
No. of Employees : |
7 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 2014-16 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. |
: |
200404078-N |
||||
|
COMPANY
NAME |
: |
GLOBAL
POWER SOURCE PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
05/04/2004 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
140,
ROBINSON ROAD, 10-08, CROWN AT ROBINSON, 068907, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
140,
ROBINSON ROAD, 10-08, CROWN AT ROBINSON, 068907, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63386879 |
||||
|
FAX.NO. |
: |
65-62955114 |
||||
|
EMAIL |
: |
SALES@GLOBALPOWER.COM.SG |
||||
|
WEB
SITE |
: |
WWW.GLOBALPOWER.COM.SG |
||||
|
CONTACT
PERSON |
: |
TIN
TIN WAI ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF BATTERIES, SEMICONDUCTOR DEVICES, UNINTERRUPTED POWER SUPPLY (UPS)
SYSTEMS, MODEMS AND OTHERS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,824,419.00
ORDINARY SHARE, OF A VALUE OF SGD 2,824,419.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
7
[2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
MODERATE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
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 batteries, semiconductor devices, uninterrupted power
supply (ups) systems, modems and others.
Former
Address(es)
|
Address |
As
At Date |
|
1
COMMONWEALTH LANE #04-24, ONE COMMONWEALTH, 149544 |
N/A |
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
18/12/2017 |
SGD
2,824,419.00 |
The
major shareholder(s) of the Subject are shown as follows:
Current Shareholder(s):
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
DIPAK
DHIRAJLAL GANDHI + |
405,
SAHYADRI BLDG, NEELKANTH VALLEY, 7TH ROAD, RAJAWADI, GHATKOPAR (E), MUMBAI,
INDIA. |
Z2474928 |
1,416,647.00 |
50.16 |
|
VINIT
DIPAK GANDHI + |
8,
SCOTTS ROAD, 19-07, SCOTTS SQUARE, 228238, SINGAPORE. |
S8578773Z |
1,407,766.00 |
49.84 |
|
TIN
TIN WAI + |
627,
SENJA ROAD, 15-182, 670627, SINGAPORE. |
S7582647H |
6.00 |
0.00 |
|
--------------- |
------ |
|||
|
2,824,419.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
PHILIPPINES |
GLOBAL
POWER BATTERY SOLUTIONS INC. |
- |
98.00 |
31/03/2013 |
|
|
UNITED
KINGDOM |
GLOBAL
POWER SOURCE (EUROPE) LTD. |
- |
100.00 |
31/03/2013 |
|
|
VIETNAM |
GLOBAL
POWER SOURCE (VIETNAM) CO. LTD |
- |
95.00 |
31/03/2012 |
|
|
TURKEY |
GLOBAL
POWER SOURCE TURKEY LIMITED |
- |
100.00 |
31/03/2013 |
|
|
834384T |
MALAYSIA |
GLOBAL
POWER TECHNOLOGIES SDN. BHD. |
- |
100.00 |
08/02/2017 |
DIRECTORS
DIRECTOR 1
|
Name
Of Subject |
: |
KHYATI
VIRAL BHUTA |
|
Address |
: |
76,
BAYSHORE ROAD, 12-20, COSTA DEL SOL, 469990, SINGAPORE. |
|
Other
Address(es) |
: |
80,
BAYSHORE ROAD, 10-26, COSTA DEL SOL, 469992, SINGAPORE. |
|
IC
/ PP No |
: |
G1030889K |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
03/05/2013 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
200404078N |
GLOBAL
POWER SOURCE PTE. LTD. |
Director |
03/05/2013 |
0.00 |
- |
USD208,682.00 |
2013 |
- |
18/12/2017 |
DIRECTOR 2
|
Name
Of Subject |
: |
TIN
TIN WAI |
|
Address |
: |
627,
SENJA ROAD, 15-182, 670627, SINGAPORE. |
|
IC
/ PP No |
: |
S7582647H |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
01/06/2006 |
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 |
200404078N |
GLOBAL
POWER SOURCE PTE. LTD. |
Director |
01/06/2006 |
6.00 |
0.0002 |
USD208,682.00 |
2013 |
- |
18/12/2017 |
DIRECTOR 3
|
Name
Of Subject |
: |
VINIT
DIPAK GANDHI |
|
Address |
: |
8,
SCOTTS ROAD, 19-07, SCOTTS SQUARE, 228238, SINGAPORE. |
|
IC
/ PP No |
: |
S8578773Z |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
03/09/2008 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
200404078N |
GLOBAL
POWER SOURCE PTE. LTD. |
Director |
03/09/2008 |
1,407,766.00 |
49.84 |
USD208,682.00 |
2013 |
- |
18/12/2017 |
DIRECTOR 4
|
Name
Of Subject |
: |
DIPAK
DHIRAJLAL GANDHI |
|
Address |
: |
405,
SAHYADRI BLDG, NEELKANTH VALLEY, 7TH ROAD, RAJAWADI, GHATKOPAR (E), MUMBAI,
INDIA. |
|
Other
Address(es) |
: |
NO.
77, JALAN BERSATU, TAMAN SERI SETIA, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
IC
/ PP No |
: |
Z2474928 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
05/04/2004 |
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 |
200404078N |
GLOBAL
POWER SOURCE PTE. LTD. |
Director |
05/04/2004 |
1,416,647.00 |
50.16 |
USD208,682.00 |
2013 |
- |
18/12/2017 |
|
2 |
834384T |
GLOBAL
POWER TECHNOLOGIES SDN. BHD. |
Director |
30/09/2008 |
0.00 |
- |
MYR303,233.00 |
2016 |
- |
27/11/2017 |
MANAGEMENT
|
1) |
Name
of Subject |
: |
TIN
TIN WAI |
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
RAMA
& CO |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
1) |
Company
Secretary |
: |
SUKUMAR
PUNITHA |
|
IC
/ PP No |
: |
S7962626J |
|
|
Address |
: |
631,
JURONG WEST STREET 65, 12-268, 640631, SINGAPORE. |
|
BANKING
Banking relations are maintained principally
with :
|
1) |
Name |
: |
THE
HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
|
2) |
Name |
: |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201200516 |
11/01/2012 |
N/A |
THE
HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201317559 |
30/12/2013 |
N/A |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201606250 |
23/06/2016 |
N/A |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201608796 |
31/08/2016 |
N/A |
DBS
BANK LTD. |
- |
Unsatisfied |
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.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
BATTERIES,
SEMICONDUCTOR DEVICES, UNINTERRUPTED POWER SUPPLY (UPS) SYSTEMS, MODEMS AND
OTHERS |
|
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
2013 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
7 |
4 |
8 |
8 |
10 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a
/ as an) trading of batteries, semiconductor devices, uninterrupted power supply
(ups) systems, modems and others.
The Subject's product dealings are as follows:
* Valve regulated lead acid batteries
(VRLA)
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63386879 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
140
ROBISON ROAD, # 10-08 CROWN AT ROBISON, SINGAPORE - 068907 |
|
Current
Address |
: |
140,
ROBINSON ROAD, 10-08, CROWN AT ROBINSON,, 068907, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject
and he provided some information.
FINANCIAL
ANALYSIS
|
|
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. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population
(Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross
Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer
Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total
Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total
Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment
Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist
Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel
Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular
Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration
of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation
of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation
of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration
of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration
of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation
of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation
of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy
Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy
Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy
Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish
Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing
Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather
Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood
& Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper
& Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing
& Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude
Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical
& Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical
Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber
& Plastic Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic
Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic
Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated
Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery
& Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical
Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic
Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport
Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real
Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport,
Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance
& Insurance |
0.50 |
3.30 |
6.00 |
- |
- |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
*
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
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
GLOBAL
POWER SOURCE 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 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
17,164,855 |
17,959,472 |
16,814,718 |
14,111,741 |
|
Other
Income |
115,067 |
32,800 |
14,274 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
17,279,922 |
17,992,272 |
16,828,992 |
14,111,741 |
|
Costs
of Goods Sold |
(14,992,128) |
(15,786,734) |
(15,390,331) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
2,287,794 |
2,205,538 |
1,438,661 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
284,121 |
382,151 |
151,661 |
109,482 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
284,121 |
382,151 |
151,661 |
109,482 |
|
Taxation |
(75,439) |
(53,159) |
(17,399) |
(9,251) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
208,682 |
328,992 |
134,262 |
100,231 |
|
Minority
interests |
(1,592) |
(694) |
25 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
207,090 |
328,298 |
134,287 |
100,231 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
207,090 |
328,298 |
134,287 |
100,231 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As
previously reported |
500,461 |
464,963 |
419,476 |
399,445 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
500,461 |
464,963 |
419,476 |
399,445 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
707,551 |
793,261 |
553,763 |
499,676 |
|
CAPITALISATION
FOR BONUS ISSUES |
(205,000) |
(243,000) |
(74,000) |
(66,000) |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(49,800) |
(14,800) |
(14,200) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
502,551 |
500,461 |
464,963 |
419,476 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||||
|
Bankers'
acceptance |
9,225 |
10,653 |
- |
- |
|
Hire
purchase |
3,818 |
4,916 |
633 |
- |
|
Others |
7,742 |
137 |
323 |
139,214 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
20,785 |
15,706 |
956 |
139,214 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
37,946 |
37,911 |
25,621 |
8,199 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
37,946 |
37,911 |
25,621 |
8,199 |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
GLOBAL
POWER SOURCE PTE. LTD. |
|
ASSETS
EMPLOYED: |
||||
|
FIXED
ASSETS |
99,043 |
132,458 |
130,827 |
7,537 |
|
Others |
- |
- |
- |
1,696 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
- |
1,696 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
99,043 |
132,458 |
130,827 |
9,233 |
|
Stocks |
1,833,016 |
1,840,326 |
1,518,371 |
1,505,215 |
|
Trade
debtors |
3,001,335 |
3,995,729 |
2,740,158 |
3,935,303 |
|
Other
debtors, deposits & prepayments |
123,171 |
77,318 |
104,217 |
5,036 |
|
Short
term deposits |
217,180 |
217,160 |
23,477 |
13,638 |
|
Amount
due from related companies |
206,709 |
104,824 |
- |
25,170 |
|
Amount
due from director |
21,951 |
3,297 |
- |
10,405 |
|
Cash
& bank balances |
477,691 |
497,061 |
391,765 |
188,231 |
|
Amount
owing by shareholders |
- |
15 |
- |
- |
|
Others |
- |
- |
- |
8,277 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
5,881,053 |
6,735,730 |
4,777,988 |
5,691,275 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
5,980,096 |
6,868,188 |
4,908,815 |
5,700,508 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade
creditors |
3,821,531 |
4,267,483 |
3,480,015 |
4,368,128 |
|
Other
creditors & accruals |
376,183 |
492,916 |
601,014 |
214,116 |
|
Hire
purchase & lease creditors |
18,866 |
18,204 |
19,196 |
- |
|
Deposits
from customers |
5,755 |
41,759 |
- |
- |
|
Bill
& acceptances payable |
415,531 |
843,004 |
- |
185,188 |
|
Amounts
owing to related companies |
35,217 |
64,911 |
- |
- |
|
Amounts
owing to director |
4,090 |
35,719 |
- |
825 |
|
Provision
for taxation |
47,603 |
48,257 |
18,353 |
9,294 |
|
Other
liabilities |
- |
- |
- |
373,796 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
4,724,776 |
5,812,253 |
4,118,578 |
5,151,347 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,156,277 |
923,477 |
659,410 |
539,928 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,255,320 |
1,055,935 |
790,237 |
549,161 |
|
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
||||
|
Ordinary
share capital |
650,800 |
445,800 |
202,800 |
128,800 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
650,800 |
445,800 |
202,800 |
128,800 |
|
Exchange
equalisation/fluctuation reserve |
19,441 |
8,843 |
- |
- |
|
Retained
profit/(loss) carried forward |
502,551 |
500,461 |
464,963 |
419,476 |
|
Others |
- |
- |
10,088 |
885 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
521,992 |
509,304 |
475,051 |
420,361 |
|
MINORITY
INTEREST |
5,456 |
4,893 |
2,078 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
1,178,248 |
959,997 |
679,929 |
549,161 |
|
Lease
obligations |
77,072 |
95,938 |
110,308 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
77,072 |
95,938 |
110,308 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,255,320 |
1,055,935 |
790,237 |
549,161 |
|
|
============= |
============= |
============= |
============= |
|
|
|
FINANCIAL
RATIO
|
|
GLOBAL
POWER SOURCE PTE. LTD. |
|
TYPES
OF FUNDS |
||||
|
Cash |
694,871 |
714,221 |
415,242 |
201,869 |
|
Net
Liquid Funds |
279,340 |
(128,783) |
415,242 |
16,681 |
|
Net
Liquid Assets |
(676,739) |
(916,849) |
(858,961) |
(965,287) |
|
Net
Current Assets/(Liabilities) |
1,156,277 |
923,477 |
659,410 |
539,928 |
|
Net
Tangible Assets |
1,255,320 |
1,055,935 |
790,237 |
549,161 |
|
Net
Monetary Assets |
(753,811) |
(1,012,787) |
(969,269) |
(965,287) |
|
PROFIT
& LOSS ITEMS |
||||
|
Earnings
Before Interest & Tax (EBIT) |
304,906 |
397,857 |
152,617 |
248,696 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
342,852 |
435,768 |
178,238 |
256,895 |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
511,469 |
957,146 |
129,504 |
185,188 |
|
Total
Liabilities |
4,801,848 |
5,908,191 |
4,228,886 |
5,151,347 |
|
Total
Assets |
5,980,096 |
6,868,188 |
4,908,815 |
5,700,508 |
|
Net
Assets |
1,255,320 |
1,055,935 |
790,237 |
549,161 |
|
Net
Assets Backing |
1,178,248 |
959,997 |
679,929 |
549,161 |
|
Shareholders'
Funds |
1,178,248 |
959,997 |
679,929 |
549,161 |
|
Total
Share Capital |
650,800 |
445,800 |
202,800 |
128,800 |
|
Total
Reserves |
521,992 |
509,304 |
475,051 |
420,361 |
|
GROWTH
RATIOS (Year on Year) |
||||
|
Revenue |
(4.42) |
6.81 |
19.15 |
(25.88) |
|
Proft/(Loss)
Before Tax |
(25.65) |
151.98 |
38.53 |
(67.87) |
|
Proft/(Loss)
After Tax |
(36.57) |
145.04 |
33.95 |
(66.82) |
|
Total
Assets |
(12.93) |
39.92 |
(13.89) |
35.81 |
|
Total
Liabilities |
(18.73) |
39.71 |
(17.91) |
42.60 |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.15 |
0.12 |
0.10 |
0.04 |
|
Liquid
Ratio |
0.86 |
0.84 |
0.79 |
0.81 |
|
Current
Ratio |
1.24 |
1.16 |
1.16 |
1.10 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
39 |
37 |
33 |
39 |
|
Debtors
Ratio |
64 |
81 |
59 |
102 |
|
Creditors
Ratio |
93 |
99 |
83 |
113 |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
0.43 |
1.00 |
0.19 |
0.34 |
|
Liabilities
Ratio |
4.08 |
6.15 |
6.22 |
9.38 |
|
Times
Interest Earned Ratio |
14.67 |
25.33 |
159.64 |
1.79 |
|
Assets
Backing Ratio |
1.93 |
2.37 |
3.90 |
4.26 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
1.66 |
2.13 |
0.90 |
0.78 |
|
Net
Profit Margin |
1.21 |
1.83 |
0.80 |
0.71 |
|
Return
On Net Assets |
24.29 |
37.68 |
19.31 |
45.29 |
|
Return
On Capital Employed |
23.83 |
36.87 |
18.81 |
45.29 |
|
Return
On Shareholders' Funds/Equity |
17.58 |
34.20 |
19.75 |
18.25 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0.15 |
0.11 |
0.14 |
|
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 50.30 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.