|
|
|
MIRA
INFORM REPORT
|
Report No. : |
507593 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TATA INTERNATIONAL SINGAPORE PTE. LIMITED |
|
|
|
|
Registered Office : |
11, Keppel Road,
10-03, Abi Plaza, 089057 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
01.11.2011 |
|
|
|
|
Com. Reg. No.: |
201132066R |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in trading of
leather, mineral, metal, agricultural commodities. |
|
|
|
|
No. of Employees : |
6 [2018] |
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 : |
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. |
: |
201132066R |
||||
|
COMPANY
NAME |
: |
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
01/11/2011 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
11,
KEPPEL ROAD, 10-03, ABI PLAZA, 089057, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
11,
KEPPEL ROAD, 10-03, ABI PLAZA,, 089057, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68715855/91773400 |
||||
|
FAX.NO. |
: |
65-62658317 |
||||
|
WEB
SITE |
: |
WWW.TATAINTERNATIONAL.COM |
||||
|
CONTACT
PERSON |
: |
NOEL
TATA ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF LEATHER, MINERAL, METAL, AGRICULTURAL COMMODITIES |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
14,100,000.00
ORDINARY SHARE, OF A VALUE OF USD 14,100,000.00 |
||||
|
SALES |
: |
USD
1,672,368,751 [2017] |
||||
|
NET
WORTH |
: |
USD
(16,213,100) [2017] |
||||
|
STAFF
STRENGTH |
: |
6
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW
BUT CORRECT |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
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 leather, mineral, metal, agricultural commodities.
The
immediate holding company of the Subject is TATA INTERNATIONAL LIMITED, a
company incorporated in INDIA.
The
ultimate holding company of the Subject is TAT SONS LIMITED, a company incorporated
in INDIA.
Former Address(es)
|
Address |
As At
Date |
|
22,
TANJONG KLING ROAD, 628048 |
N/A |
|
3,
ANSON ROAD, 12-03, SPRINGLEAF TOWER, 079909 |
N/A |
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
04/04/2018 |
USD
14,100,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
TATA
INTERNATIONAL LIMITED |
7TH
FLOOR, TRENT HOUSE, C-60, BLOCK G, BANDRA KURLA COMPLEX, BANDRA (EAST),
MUMBAI 400 051 ,INDIA |
T12UF1693 |
14,100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
14,100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
UNITED
ARAB EMIRATES (DUBAI) |
TAH
PHARMACEUTICALS LTD. |
- |
100.00 |
31/03/2016 |
|
|
UNITED
ARAB EMIRATES (DUBAI) |
TATA
AFRICA HOLDINGS (GHANA) LIMITED. |
- |
100.00 |
31/03/2016 |
|
|
AFRICA |
TATA
AFRICA HOLDINGS (SA) PROPRIETARY LIMITED |
- |
100.00 |
31/03/2016 |
|
|
HONG
KONG |
TATA
INTERNATIONAL METALS (ASIA) LIMITED |
- |
100.00 |
31/03/2016 |
|
|
UNITED
KINGDOM |
TATA
INTERNATIONAL METALS (UK) LIMITED |
- |
100.00 |
31/03/2016 |
|
|
UNITED
ARAB EMIRATES (DUBAI) |
TATA
INTERNATIONAL WEST ASIA DMCC |
- |
100.00 |
31/03/2016 |
|
|
HONG
KONG |
TATA
SOUTH-EAST ASIA LIMITED |
- |
100.00 |
31/03/2016 |
|
|
UNITED
STATES |
TATA
STEEL INTERNATIONAL METALS (AMERICAS) LIMITED |
- |
100.00 |
31/03/2016 |
|
|
SENEGAL |
UNITECH
MOTORS S.A. |
- |
70.00 |
31/03/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MR.
NOEL TATA |
|
Address |
: |
WINDMERE,
5TH FLOOR, CUFFE PARADE, COLABA, MUMBAI, 400 005, INDIA. |
|
IC / PP
No |
: |
LT2099536 |
|
Nationality |
: |
IRISH |
|
Date of
Appointment |
: |
25/09/2012 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
201132066R |
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
Director |
25/09/2012 |
0.00 |
- |
USD(21,193,375.00) |
2017 |
- |
04/04/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
KOTTAMASU
VENKATESWARA RAO |
|
Address |
: |
45,
MANDALAY ROAD, 17-01, MANDALE HEIGHTS, 308225, SINGAPORE. |
|
IC / PP
No |
: |
S2674660D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
22/04/2014 |
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 |
200719636Z |
TATA
CHEMICALS INTERNATIONAL PTE. LTD. |
Director |
23/10/2007 |
0.00 |
- |
USD2,551,023.00 |
2017 |
- |
17/04/2018 |
|
2 |
201132066R |
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
Director |
22/04/2014 |
0.00 |
- |
USD(21,193,375.00) |
2017 |
- |
04/04/2018 |
|
3 |
200802690C |
TRUST
ENERGY RESOURCES PTE. LTD. |
Director |
05/02/2008 |
0.00 |
- |
USD28,318,388.00 |
2017 |
- |
13/02/2018 |
DIRECTOR 3
|
Name Of
Subject |
: |
JAGANNATHAN
NIRANJAN |
|
Address |
: |
10,
KEPPEL BAY DRIVE 07-12, CARIBBEAN AT KEPPEL BAY, 098640, SINGAPORE. |
|
Other
Address(es) |
: |
32,
KEPPEL BAY DRIVE, 07-59, CARIBBEAN AT KEPPEL BAY, 098651, SINGAPORE. |
|
IC / PP
No |
: |
G3087013T |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
01/09/2015 |
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 |
201205301G |
OMEGA
FII INVESTMENTS PTE. LTD. |
Director |
27/10/2014 |
0.00 |
- |
USD(26,126.00) |
2014 |
- |
13/05/2015 |
|
2 |
201132066R |
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
Director |
01/09/2015 |
0.00 |
- |
USD(21,193,375.00) |
2017 |
- |
04/04/2018 |
DIRECTOR 4
|
Name Of
Subject |
: |
AJAY
MURLIDHAR PONKSHE |
|
Address |
: |
3,
YASHODHAN, SAHAYOG MANDIR ROAD, NAUPADA, THANE, 400602, INDIA. |
|
IC / PP
No |
: |
H8165619 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
01/11/2011 |
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 |
201132066R |
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
Director |
01/11/2011 |
0.00 |
- |
USD(21,193,375.00) |
2017 |
- |
04/04/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
NOEL
TATA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST
& YOUNG LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
LEE WEI
HSIUNG |
|
IC / PP
No |
: |
S7927166G |
|
|
Address |
: |
633
JURONG WEST STREET 65, #10-310, SINGAPORE 640633 |
|
|
2) |
Company
Secretary |
: |
TAY
TUAN LENG |
|
IC / PP
No |
: |
S7432140B |
|
|
Address |
: |
469B,
SENGKANG WEST WAY, 19-614, FERNVALE LEA, 792469, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD
CHARTERED BANK |
|
2) |
Name |
: |
ABN
AMRO BANK N.V. |
|
3) |
Name |
: |
UNITED
OVERSEAS BANK LIMITED |
|
4) |
Name |
: |
SOCIETE
GENERALE |
|
5) |
Name |
: |
BNP
PARIBAS |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201508461 |
24/07/2015 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201601254 |
28/01/2016 |
N/A |
SOCIETE
GENERALE |
- |
Unsatisfied |
|
C201601255 |
28/01/2016 |
N/A |
SOCIETE
GENERALE |
- |
Unsatisfied |
|
C201602732 |
08/03/2016 |
N/A |
EMIRATES
NBD PJSC |
- |
Unsatisfied |
|
C201603103 |
17/03/2016 |
N/A |
EXPORT-IMPORT
BANK OF INDIA |
- |
Unsatisfied |
|
C201603156 |
18/03/2016 |
N/A |
EXPORT-IMPORT
BANK OF INDIA |
- |
Unsatisfied |
|
C201603704 |
05/04/2016 |
N/A |
AUSTRALIA
AND NEW ZEALAND BANKING GROUP LIMITED |
- |
Unsatisfied |
|
C201704268 |
04/05/2017 |
N/A |
BNP
PARIBAS |
- |
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 |
: |
YES |
|
Overseas |
: |
YES |
|
Import
Countries |
: |
ASIA |
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 |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
LEATHER,
MINERAL, METAL, AGRICULTURAL COMMODITIES |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
6 |
6 |
6 |
10 |
10 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of leather,
mineral, metal, agricultural commodities.
The Key products offered by the Subject are including steel, metallics and rolls,
products for the aluminium industry (customised engineering products) and
module mounting systems (solar).
The vision for the agricultural trading business is to tap into the
ever-increasing global trade in agricultural commodities like cereals, pulses,
oilseeds. etc, and create efficient linkages between India, Africa and Myanmar
for a select presence across the value chain. The Subject provides an
end-to-end trading solution to their customers and they are constantly engaged
in growing their sourcing base while adhering to quality and food safety
standards.
The Subject is primarily engaged in coal imports into India. Additionally,
other key products handled by the Subject are coal and coke; ores and fluxes;
ferro-alloys and base metals like nickel, tin, etc.
The Subject operates India's only performance leather facility. Their quality
and customer orientation have helped them build enduring associations with
major global brands like Marks & Spencer, Gabor, Aerosoles, Zara, Mango and
others.
The Subject's group company be the sale agent for metal products, sales and
service motor vehicle and etc..
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-68715855/91773400 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
11
KEPPEL ROAD HEX 10-03 ABI PLAZA 089057 SINGAPORE |
|
Current
Address |
: |
11,
KEPPEL ROAD, 10-03, ABI PLAZA,, 089057, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We have contacted one of the staff from the Subject and she only provided
limited information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 -
2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013 -
2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
124.71% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(100.25%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.Higher losses before tax during the year could be due to
the higher operating costs incurred. Although the Subject's returns showed
positive figures it is not reflective of the true situation. The Subject
incurred losses during the year and its shareholders' funds have turned red.
The positive returns on shareholders' funds is the result of losses divided
by negative shareholders' funds. The Subject's management was inefficient in
utilising the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
36 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
25 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 |
: |
Acceptable |
[ |
0.91
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.27
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
0.49
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
(33.73
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's gearing was negative during the year as its shareholders' funds was
in the red. This means the Subject is running its business using borrowed
money. We consider the Subject as facing high financial risks. |
||||||
|
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's liquidity was at an acceptable range. If the
Subject is able to obtain further short term financing, it should be able to
meet all 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 has high
financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
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
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
|
Financial
Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
1,672,368,751 |
1,699,383,441 |
1,320,685,445 |
887,964,662 |
251,193,253 |
|
Other
Income |
17,546,284 |
10,798,090 |
12,677,505 |
8,235,206 |
786,980 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
1,689,915,035 |
1,710,181,531 |
1,333,362,950 |
896,199,868 |
251,980,233 |
|
Costs
of Goods Sold |
(1,510,702,241) |
(1,519,623,578) |
(1,208,914,181) |
(818,281,041) |
(234,260,883) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
179,212,794 |
190,557,953 |
124,448,769 |
77,918,827 |
17,719,350 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(16,851,484) |
(15,625,794) |
6,003,400 |
2,582,230 |
(2,249,497) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(16,851,484) |
(15,625,794) |
6,003,400 |
2,582,230 |
(2,249,497) |
|
Taxation |
(4,341,891) |
(6,191,494) |
(1,209,461) |
1,118,449 |
(262,137) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(21,193,375) |
(21,817,288) |
4,793,939 |
3,700,679 |
(2,511,634) |
|
Minority
interests |
973,593 |
160,785 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
(20,219,782) |
(21,656,503) |
4,793,939 |
3,700,679 |
(2,511,634) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
(20,219,782) |
(21,656,503) |
4,793,939 |
3,700,679 |
(2,511,634) |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(21,849,544) |
5,938,374 |
1,144,435 |
(2,556,244) |
(44,610) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(21,849,544) |
5,938,374 |
1,144,435 |
(2,556,244) |
(44,610) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(42,069,326) |
(15,718,129) |
5,938,374 |
1,144,435 |
(2,556,244) |
|
TRANSFER
TO RESERVES - General |
(3,263,227) |
(6,131,415) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(45,332,553) |
(21,849,544) |
5,938,374 |
1,144,435 |
(2,556,244) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Loan
from holding company |
2,221,237 |
2,330,903 |
1,503,323 |
- |
- |
|
Term
loan / Borrowing |
21,775,592 |
16,266,439 |
5,896,725 |
4,664,011 |
915,957 |
|
Others |
9,108,824 |
7,774,481 |
3,646,328 |
2,653,654 |
450,423 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
33,105,653 |
26,371,823 |
11,046,376 |
7,317,665 |
1,366,380 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
3,644,317 |
3,219,838 |
47,744 |
53,324 |
19,659 |
|
AMORTIZATION |
1,940,966 |
102,000 |
1,433,783 |
299,754 |
118,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
5,585,283 |
3,321,838 |
1,481,527 |
353,078 |
137,659 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
42,516,794 |
43,593,190 |
4,804,778 |
66,490 |
119,252 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Investments |
- |
3,838,101 |
5,936,884 |
600,000 |
- |
|
Deferred
assets |
4,933,961 |
3,691,739 |
1,329,465 |
1,379,342 |
216,950 |
|
Others |
43,168,819 |
27,177,250 |
106,228,825 |
84,934,621 |
600,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
48,102,780 |
34,707,090 |
113,495,174 |
86,913,963 |
816,950 |
|
INTANGIBLE
ASSETS |
|||||
|
Own
goodwill |
1,842,638 |
1,842,638 |
1,842,638 |
- |
- |
|
Others |
17,502,277 |
15,486,016 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
19,344,915 |
17,328,654 |
1,842,638 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
109,964,489 |
95,628,934 |
120,142,590 |
86,980,453 |
936,202 |
|
CURRENT
ASSETS |
|||||
|
Short
term quoted/unquoted investments |
7,681,508 |
12,662,530 |
- |
- |
- |
|
Stocks |
165,763,949 |
148,289,882 |
64,410,065 |
72,517,866 |
26,982,958 |
|
Trade
debtors |
242,267,017 |
252,446,424 |
218,574,696 |
189,721,049 |
60,376,469 |
|
Other
debtors, deposits & prepayments |
48,350,863 |
38,820,718 |
8,984,930 |
11,227,457 |
8,364,320 |
|
Amount
due from holding company |
43,864,241 |
14,222,741 |
6,682,066 |
6,126,731 |
- |
|
Amount
due from related companies |
9,169,614 |
14,461,759 |
13,093,817 |
16,010,657 |
- |
|
Cash
& bank balances |
76,021,353 |
57,493,034 |
36,318,806 |
8,984,033 |
57,272,104 |
|
Others |
- |
535,603 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
593,118,545 |
538,932,691 |
348,064,380 |
304,587,793 |
152,995,851 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
703,083,034 |
634,561,625 |
468,206,970 |
391,568,246 |
153,932,053 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
105,103,333 |
96,159,337 |
60,032,323 |
88,384,219 |
55,670,526 |
|
Other
creditors & accruals |
12,157,407 |
21,220,305 |
19,791,544 |
9,110,399 |
11,066,953 |
|
Bank
overdraft |
- |
- |
839,200 |
14,523,167 |
- |
|
Short
term borrowings/Term loans |
- |
- |
85,541,172 |
115,539,998 |
45,142,711 |
|
Other
borrowings |
298,196,350 |
292,856,590 |
75,266,740 |
41,409,464 |
- |
|
Deposits
from customers |
14,877,882 |
16,821,836 |
4,016,986 |
973,241 |
- |
|
Amounts
owing to holding company |
4,410,226 |
4,043,809 |
1,613,570 |
247,576 |
- |
|
Amounts
owing to related companies |
32,041,425 |
30,227,190 |
6,249,566 |
990,699 |
- |
|
Provision
for taxation |
1,014,856 |
1,839,166 |
159,074 |
- |
- |
|
Other
liabilities |
750,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
468,551,479 |
463,168,233 |
253,510,175 |
271,178,763 |
111,880,190 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
124,567,066 |
75,764,458 |
94,554,205 |
33,409,030 |
41,115,661 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Long
term loans |
248,719,017 |
80,866,912 |
36,178,639 |
65,509,000 |
31,551,261 |
|
Deferred
taxation |
1,535,843 |
483,000 |
- |
- |
- |
|
Others |
489,795 |
4,168,781 |
4,680,792 |
30,564 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
250,744,655 |
85,518,693 |
40,859,431 |
65,539,564 |
31,551,261 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(16,213,100) |
85,874,699 |
173,837,364 |
120,389,483 |
42,051,863 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
|
RESERVES |
|||||
|
Exchange
equalisation/fluctuation reserve |
(20,891,337) |
(19,429,105) |
(1,539,255) |
911,571 |
(1,043,154) |
|
General
reserve |
(1,430,891) |
(1,467,474) |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
(45,332,553) |
(21,849,544) |
5,938,374 |
1,144,435 |
(2,556,244) |
|
Others |
38,282,087 |
114,023,134 |
153,996,542 |
38,693,913 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(29,372,694) |
71,277,011 |
158,395,661 |
40,749,919 |
(3,599,398) |
|
MINORITY
INTEREST |
(940,406) |
497,688 |
1,341,703 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(16,213,100) |
85,874,699 |
173,837,364 |
54,849,919 |
10,500,602 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
TATA
INTERNATIONAL SINGAPORE PTE. LIMITED |
|
TYPES
OF FUNDS |
|||||
|
Cash |
76,021,353 |
57,493,034 |
36,318,806 |
8,984,033 |
57,272,104 |
|
Net
Liquid Funds |
76,021,353 |
57,493,034 |
35,479,606 |
(5,539,134) |
57,272,104 |
|
Net
Liquid Assets |
(41,196,883) |
(72,525,424) |
30,144,140 |
(39,108,836) |
14,132,703 |
|
Net
Current Assets/(Liabilities) |
124,567,066 |
75,764,458 |
94,554,205 |
33,409,030 |
41,115,661 |
|
Net
Tangible Assets |
(35,558,015) |
68,546,045 |
212,854,157 |
120,389,483 |
42,051,863 |
|
Net
Monetary Assets |
(291,941,538) |
(158,044,117) |
(10,715,291) |
(104,648,400) |
(17,418,558) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
16,254,169 |
10,746,029 |
17,049,776 |
9,899,895 |
(883,117) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
21,839,452 |
14,067,867 |
18,531,303 |
10,252,973 |
(745,458) |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
546,915,367 |
373,723,502 |
197,825,751 |
236,981,629 |
76,693,972 |
|
Total
Liabilities |
719,296,134 |
548,686,926 |
294,369,606 |
336,718,327 |
143,431,451 |
|
Total
Assets |
703,083,034 |
634,561,625 |
468,206,970 |
391,568,246 |
153,932,053 |
|
Net
Assets |
(16,213,100) |
85,874,699 |
214,696,795 |
120,389,483 |
42,051,863 |
|
Net
Assets Backing |
(16,213,100) |
85,874,699 |
173,837,364 |
54,849,919 |
10,500,602 |
|
Shareholders'
Funds |
(16,213,100) |
85,874,699 |
173,837,364 |
54,849,919 |
10,500,602 |
|
Total
Share Capital |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
14,100,000 |
|
Total
Reserves |
(29,372,694) |
71,277,011 |
158,395,661 |
40,749,919 |
(3,599,398) |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(1.59) |
28.67 |
48.73 |
253.50 |
64,919.54 |
|
Proft/(Loss)
Before Tax |
(7.84) |
(360.28) |
132.49 |
214.79 |
(4,942.58) |
|
Proft/(Loss)
After Tax |
2.86 |
(555.10) |
29.54 |
247.34 |
(5,530.20) |
|
Total
Assets |
10.80 |
35.53 |
19.57 |
154.38 |
128,792.17 |
|
Total
Liabilities |
31.09 |
86.39 |
(12.58) |
134.76 |
223,882.15 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.16 |
0.12 |
0.14 |
0.03 |
0.51 |
|
Liquid
Ratio |
0.91 |
0.84 |
1.12 |
0.86 |
1.13 |
|
Current
Ratio |
1.27 |
1.16 |
1.37 |
1.12 |
1.37 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
36 |
32 |
18 |
30 |
39 |
|
Debtors
Ratio |
53 |
54 |
60 |
78 |
88 |
|
Creditors
Ratio |
25 |
23 |
18 |
39 |
87 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
(33.73) |
4.35 |
1.14 |
4.32 |
7.30 |
|
Liabilities
Ratio |
(44.37) |
6.39 |
1.69 |
6.14 |
13.66 |
|
Times
Interest Earned Ratio |
0.49 |
0.41 |
1.54 |
1.35 |
(0.65) |
|
Assets
Backing Ratio |
(2.52) |
4.86 |
15.10 |
8.54 |
2.98 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(1.01) |
(0.92) |
0.45 |
0.29 |
(0.90) |
|
Net
Profit Margin |
(1.21) |
(1.27) |
0.36 |
0.42 |
(1.00) |
|
Return
On Net Assets |
(100.25) |
12.51 |
7.94 |
8.22 |
(2.10) |
|
Return
On Capital Employed |
6.43 |
5.68 |
7.80 |
7.34 |
(2.10) |
|
Return
On Shareholders' Funds/Equity |
124.71 |
(25.22) |
2.76 |
6.75 |
(23.92) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
|
SGD |
1 |
INR 50.17 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.