|
|
|
MIRA INFORM REPORT
|
Report No. : |
509623 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
AVANI RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
143, Cecil Street, 24-01/02, Gb Building, 069542 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
07.12.2010 |
|
|
|
|
Com. Reg. No.: |
201025904R |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of coal, coke, iron,
nickle ore. |
|
|
|
|
No. of Employees : |
15 [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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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. |
: |
201025904R |
||||
|
COMPANY NAME |
: |
AVANI RESOURCES PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/12/2010 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
143, CECIL STREET, 24-01/02, GB BUILDING, 069542, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
143, CECIL STREET, 08-03/04, GB BUILDING, 069542, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62211270 |
||||
|
FAX.NO. |
: |
65-62214560 |
||||
|
EMAIL |
: |
AVANI@AVANI.SG |
||||
|
WEB SITE |
: |
WWW.AVANI.SG |
||||
|
CONTACT PERSON |
: |
RAJESH JOHAR ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COAL, COKE, IRON , NICKLE ORE |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,000,000.00 |
||||
|
SALES |
: |
USD 1,000,823,026 [2017] |
||||
|
NET WORTH |
: |
USD 78,440,503 [2017] |
||||
|
STAFF STRENGTH |
: |
15 [2017] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading
of coal, coke, iron , nickle ore.
The immediate and ultimate holding company of the Subject is TERRA
MIN RESOURCES PVT. LTD., a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
13/10/2017 |
USD 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHEN ZHIGUO + |
ROOM 203, BUILDING 3, 3, YONGDINGMEN, WEST ST XUANWU DISTRICT,
BEIJING, 10050, CHINA. |
E99520833 |
180,000.00 |
18.00 |
|
RAJESH JOHAR + |
30, CHWEE CHIAN ROAD, 119787, SINGAPORE. |
S7187084G |
100,000.00 |
10.00 |
|
SANDEEP BHARGAVA + |
57/7, BALLYGUNGE CIRCULAR ROAD, BALLYGUNGE, KOLKATA, WEST
BENGAL, 700019, INDIA. |
Z3680936 |
80,000.00 |
8.00 |
|
TERRA MIN RESOURCES PVT. LTD. |
52, SYED AMIR ALI AVENUE, 3RD FLOOR, KOLKATA, WEST BENGAL 700019
,INDIA |
T11UF2010 |
640,000.00 |
64.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
LALITENDU JENA |
|
Address |
: |
70-B, BDA DUPLEX COLONY, BARAMUNDA, BHUBANESWAR, KHURDA, ORISSA,
751003, INDIA. |
|
IC / PP No |
: |
Z2793734 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
17/02/2014 |
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 |
201025904R |
AVANI RESOURCES PTE. LTD. |
Director |
17/02/2014 |
0.00 |
- |
USD41,542,216.00 |
2017 |
- |
13/10/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
SHIV RAJ KAPUR |
|
Address |
: |
141, CECIL STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541,
SINGAPORE. |
|
IC / PP No |
: |
S2640515G |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
07/12/2010 |
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 |
201025904R |
AVANI RESOURCES PTE. LTD. |
Director Secretary |
07/12/2010 07/12/2010 |
0.00 |
- |
USD41,542,216.00 |
2017 |
- |
13/10/2017 |
|
2 |
201700101N |
IPMC (SINGAPORE) PTE. LTD. |
Secretary |
01/01/2017 |
0.00 |
- |
- |
2016 |
- |
07/09/2017 |
|
3 |
201215352Z |
SARAOGI GLOBAL PTE. LTD. |
Secretary |
21/06/2012 |
0.00 |
- |
USD670,126.00 |
2016 |
- |
13/02/2017 |
|
4 |
201025959N |
TARDERIV INTERNATIONAL PTE. LTD. |
Director |
12/07/2013 |
0.00 |
- |
USD166,522.00 |
2014 |
- |
04/11/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
SANDEEP BHARGAVA |
|
Address |
: |
57/7, BALLYGUNGE CIRCULAR ROAD, BALLYGUNGE, KOLKATA, WEST BENGAL,
700019, INDIA. |
|
IC / PP No |
: |
Z3680936 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
14/02/2011 |
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 |
201025904R |
AVANI RESOURCES PTE. LTD. |
Director |
14/02/2011 |
80,000.00 |
8.00 |
USD41,542,216.00 |
2017 |
- |
13/10/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
RAJESH JOHAR |
|
Address |
: |
30, CHWEE CHIAN ROAD, 119787, SINGAPORE. |
|
Other Address(es) |
: |
200, DEPOT ROAD, 06-39, THE INTERLACE, 109694, SINGAPORE. |
|
IC / PP No |
: |
S7187084G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/10/2011 |
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 |
201025904R |
AVANI RESOURCES PTE. LTD. |
Director |
01/10/2011 |
100,000.00 |
10.00 |
USD41,542,216.00 |
2017 |
- |
13/10/2017 |
DIRECTOR 5
|
Name Of Subject |
: |
CHEN ZHIGUO |
|
Address |
: |
ROOM 203, BUILDING 3, 3, YONGDINGMEN, WEST ST XUANWU DISTRICT,
BEIJING, 10050, CHINA. |
|
IC / PP No |
: |
E99520833 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
14/02/2011 |
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 |
201025904R |
AVANI RESOURCES PTE. LTD. |
Director |
14/02/2011 |
180,000.00 |
18.00 |
USD41,542,216.00 |
2017 |
- |
13/10/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
RAJESH JOHAR |
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
JBS PRACTICE PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
SHIV RAJ KAPUR |
|
IC / PP No |
: |
S2640515G |
|
|
Address |
: |
141, CECIL STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541,
SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
DBS BANK LTD |
|
2) |
Name |
: |
ING BANK N. V. |
|
3) |
Name |
: |
MALAYAN BANKING BHD |
|
4) |
Name |
: |
STANDARD CHARTERED BANK |
|
5) |
Name |
: |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201110433 |
22/08/2011 |
N/A |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201111573 |
15/09/2011 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201111574 |
15/09/2011 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201111575 |
15/09/2011 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201202623 |
08/03/2012 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201202624 |
08/03/2012 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201209796 |
29/08/2012 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201209797 |
29/08/2012 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201209798 |
29/08/2012 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201213577 |
23/11/2012 |
N/A |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201315300 |
14/11/2013 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201404089 |
24/04/2014 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201511105 |
29/09/2015 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C201708688 |
28/08/2017 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201708689 |
28/08/2017 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201708691 |
28/08/2017 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201708693 |
28/08/2017 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation.
No winding up petition was found in our databank.
|
LEGAL ACTION |
|
||||||
|
|||||||
|
|||||||
|
Total PENDING Case(s) : 1 |
|
||||||
|
|||||||
|
Case Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
935 |
||
|
Year |
: |
2016 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
SUPREME COURT |
|||||
|
Date Filed |
: |
01/09/2016 |
|||||
|
Solicitor |
: |
THUOLASE D/O VENGADASHALAPATHY |
|||||
|
Solicitor Firm |
: |
ASIALEGAL LLC |
|||||
|
Plaintiff |
: |
BRIGHT RUBY RESOURCES PTE LTD |
|||||
|
DEFENDANTS |
: |
AVANI RESOURCES PTE. LTD. (201025904) |
|||||
|
Remark |
: |
SALE OF GOODS |
|||||
CRIMINAL
CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No criminal record was found in our databank.
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No plaintiff record was found in our databank.
CRIMINAL
RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No plaintiff record was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
OPERATIONS
|
|
Goods Traded |
: |
COAL, COKE, IRON , NICKLE ORE |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
15 |
15 |
30 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of coal, coke,
iron , nickle ore.
The Subject sells the following commodity products.
* Thermal Coal
* Steam Coal
* Anthracite Coal
* Coking Coal
* Iron Ore
* Chrome ore
* Chrome Concentrate
* Manganese Ore
* Ferro Alloys
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
52.96% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
58.17% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The higher profit could be attributed to the
increase in turnover. Generally the Subject was profitable. The favourable
return on shareholders' funds and return on net assets indicate that the
Subject's management was efficient in utilising the assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
9 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
20 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 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 |
[ |
1.28 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.42 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 |
: |
Favourable |
[ |
43.21 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.44 Times |
] |
|
|
The interest cover showed that the Subject was able to service
the interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was highly
geared, thus it had a high financial risk. The Subject was dependent on loans
to finance its business needs. In times of economic downturn and / or high
interest rate, the Subject will become less profitable and competitive than
other firms in the same industry, which are lowly geared. This is because the
Subject has to service the interest and to repay the loan, which will erode
part of its profits. The profits will fluctuate depending on the Subject's
turnover and the interest it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. The Subject was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the Subject should be able to repay its
short term obligations. With the favourable interest cover, the Subject could
be able to service all the accrued interest without facing any difficulties.
The Subject's gearing level was high and its going concern will be in doubt
if there is no injection of additional shareholders' funds in times of
economic downturn and / or high interest rates. |
||||||
|
Overall financial condition of the Subject : STABLE |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
|
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical & Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery & Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance & Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production (2015 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale & retail trade
sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0%
growth in the preceding quarter. Growth was supported by both the wholesale
trade and retail trade segments. The wholesale trade segment was boosted by
an increase in both domestic and foreign wholesale trade sales volume. In
particular, the domestic wholesale trade index rose by 7.4%, following the
8.1 % increase in the previous quarter. The strong performance in domestic
wholesale trade was due to a surge in the sales of petroleum and petroleum
products (14%), chemicals & chemical products (39%) and
telecommunications & computers (18%). |
|
|
Similarly, the foreign
wholesale trade index rose by 10% in the third quarter of 2015, accelerating
from the 6.9% rise in the previous quarter. Growth was driven by improvements
in the sales of petroleum & petroleum products (21%), metals, timber
& construction materials (10%) and general wholesale trade (8.8%). |
|
|
Overall retail trade sales
volume also recorded resilient growth of 5.6% in the third quarter of 2015,
extending the 6.4 % expansion in the second quarter. Growth was supported by
a surge in the volume of motor vehicle sales (44%), which was in turn due to
a substantial increase in the supply of Certificate of Entitlements.
Excluding motor vehicles, retail sales volume increased at a much slower pace
of 0.7% over the same period. The increase in retail sales volume (excluding
motor vehicles) was due to improved non-discretionary goods sales. For
instance, the sales of medical goods & toiletries and department store
goods rose by 8.1% and 3.6% respectively. |
|
|
According to the Retail News
Asia, Food and beverage has overtaken fashion as the primary driver of demand
for retail real estate in Singapore. Despite declining retail sales and
consumer spending, the prime retail sector remained in good shape during the
third quarter 2015. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
AVANI RESOURCES PTE. LTD. |
|
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 |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
1,000,823,026 |
564,132,019 |
777,625,949 |
654,961,326 |
685,418,476 |
|
Other Income |
4,370,656 |
4,096,366 |
4,326,816 |
2,400,534 |
1,371,141 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,005,193,682 |
568,228,385 |
781,952,765 |
657,361,860 |
686,789,617 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
47,465,717 |
10,641,550 |
15,176,531 |
12,675,691 |
8,151,833 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
47,465,717 |
10,641,550 |
15,176,531 |
12,675,691 |
8,151,833 |
|
Taxation |
(5,923,501) |
(876,439) |
(1,512,862) |
(1,253,723) |
(1,500,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
41,542,216 |
9,765,111 |
13,663,669 |
11,421,968 |
6,651,833 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
39,889,486 |
32,924,375 |
22,060,706 |
13,238,738 |
7,086,905 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
39,889,486 |
32,924,375 |
22,060,706 |
13,238,738 |
7,086,905 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
81,431,702 |
42,689,486 |
35,724,375 |
24,660,706 |
13,738,738 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(4,000,000) |
(2,800,000) |
(2,800,000) |
(2,600,000) |
(500,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
77,431,702 |
39,889,486 |
32,924,375 |
22,060,706 |
13,238,738 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Term loan / Borrowing |
143,927 |
173,731 |
123,269 |
119,200 |
261,018 |
|
Others |
980,579 |
1,241,595 |
1,762,001 |
689,842 |
671,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,124,506 |
1,415,326 |
1,885,270 |
809,042 |
932,518 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
442,943 |
457,846 |
462,101 |
243,005 |
21,638 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
442,943 |
457,846 |
462,101 |
243,005 |
21,638 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
AVANI RESOURCES PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
7,405,773 |
7,632,186 |
8,084,004 |
8,530,295 |
31,016 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
7,405,773 |
7,632,186 |
8,084,004 |
8,530,295 |
31,016 |
|
CURRENT ASSETS |
|||||
|
Stocks |
24,600,792 |
42,245,676 |
21,347,056 |
20,646,180 |
16,201,512 |
|
Trade debtors |
54,195,212 |
25,204,625 |
15,229,449 |
37,475,700 |
29,099,725 |
|
Other debtors, deposits & prepayments |
2,122,225 |
5,321,906 |
5,107,833 |
3,745,110 |
16,534,430 |
|
Short term deposits |
62,651,523 |
24,198,832 |
29,626,594 |
24,234,887 |
30,978,350 |
|
Interest receivable |
55,422 |
19,238 |
11,561 |
7,380 |
555,589 |
|
Amount due from related companies |
38,540,611 |
20,542,200 |
32,351,201 |
15,500,925 |
2,851,518 |
|
Cash & bank balances |
69,725,754 |
34,682,312 |
44,919,457 |
42,265,341 |
19,927,355 |
|
Others |
6,172,229 |
2,719,394 |
274,250 |
37,449,128 |
33,125,986 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
258,063,768 |
154,934,183 |
148,867,401 |
181,324,651 |
149,274,465 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
265,469,541 |
162,566,369 |
156,951,405 |
189,854,946 |
149,305,481 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
52,277,139 |
35,034,476 |
5,882,531 |
10,411,378 |
5,818,859 |
|
Other creditors & accruals |
12,818,969 |
7,045,935 |
8,173,719 |
7,577,531 |
7,771,826 |
|
Short term borrowings/Term loans |
20,026,103 |
27,207,171 |
31,559,038 |
40,632,507 |
58,599,796 |
|
Other borrowings |
281,972 |
- |
- |
- |
- |
|
Deposits from customers |
640,090 |
305,000 |
46,202 |
80,541 |
- |
|
Bill & acceptances payable |
87,847,350 |
37,626,079 |
56,876,208 |
58,166,176 |
12,449,397 |
|
Amounts owing to related companies |
2,012,008 |
2,421,563 |
2,019,105 |
1,988,320 |
1,618,579 |
|
Amounts owing to director |
- |
- |
- |
- |
29,100 |
|
Provision for taxation |
6,028,034 |
1,106,124 |
1,884,059 |
1,992,012 |
1,500,000 |
|
Other liabilities |
- |
2,734,875 |
- |
37,781,000 |
41,647,331 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
181,931,665 |
113,481,223 |
106,440,862 |
158,629,465 |
129,434,888 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
76,132,103 |
41,452,960 |
42,426,539 |
22,695,186 |
19,839,577 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
5,097,373 |
8,202,341 |
16,303,117 |
8,532,224 |
5,472,222 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
5,097,373 |
8,202,341 |
16,303,117 |
8,532,224 |
5,472,222 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
83,537,876 |
49,085,146 |
50,510,543 |
31,225,481 |
19,870,593 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
RESERVES |
|||||
|
General reserve |
8,801 |
(6,681) |
283,051 |
(367,449) |
159,633 |
|
Retained profit/(loss) carried forward |
77,431,702 |
39,889,486 |
32,924,375 |
22,060,706 |
13,238,738 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
77,440,503 |
39,882,805 |
33,207,426 |
21,693,257 |
13,398,371 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
78,440,503 |
40,882,805 |
34,207,426 |
22,693,257 |
14,398,371 |
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
AVANI RESOURCES PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
132,377,277 |
58,881,144 |
74,546,051 |
66,500,228 |
50,905,705 |
|
Net Liquid Funds |
44,529,927 |
21,255,065 |
17,669,843 |
8,334,052 |
38,456,308 |
|
Net Liquid Assets |
51,531,311 |
(792,716) |
21,079,483 |
2,049,006 |
3,638,065 |
|
Net Current Assets/(Liabilities) |
76,132,103 |
41,452,960 |
42,426,539 |
22,695,186 |
19,839,577 |
|
Net Tangible Assets |
83,537,876 |
49,085,146 |
50,510,543 |
31,225,481 |
19,870,593 |
|
Net Monetary Assets |
46,433,938 |
(8,995,057) |
4,776,366 |
(6,483,218) |
(1,834,157) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
12,056,876 |
17,061,801 |
13,484,733 |
9,084,351 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
49,033,166 |
12,514,722 |
17,523,902 |
13,727,738 |
9,105,989 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
113,252,798 |
73,035,591 |
104,738,363 |
107,330,907 |
76,521,415 |
|
Total Liabilities |
187,029,038 |
121,683,564 |
122,743,979 |
167,161,689 |
134,907,110 |
|
Total Assets |
265,469,541 |
162,566,369 |
156,951,405 |
189,854,946 |
149,305,481 |
|
Net Assets |
83,537,876 |
49,085,146 |
50,510,543 |
31,225,481 |
19,870,593 |
|
Net Assets Backing |
78,440,503 |
40,882,805 |
34,207,426 |
22,693,257 |
14,398,371 |
|
Shareholders' Funds |
78,440,503 |
40,882,805 |
34,207,426 |
22,693,257 |
14,398,371 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
77,440,503 |
39,882,805 |
33,207,426 |
21,693,257 |
13,398,371 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
77.41 |
(27.45) |
18.73 |
(4.44) |
126.31 |
|
Proft/(Loss) Before Tax |
346.04 |
(29.88) |
19.73 |
55.49 |
2.82 |
|
Proft/(Loss) After Tax |
325.41 |
(28.53) |
19.63 |
71.71 |
(6.14) |
|
Total Assets |
63.30 |
3.58 |
(17.33) |
27.16 |
140.44 |
|
Total Liabilities |
53.70 |
(0.86) |
(26.57) |
23.91 |
149.75 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.73 |
0.52 |
0.70 |
0.42 |
0.39 |
|
Liquid Ratio |
1.28 |
0.99 |
1.20 |
1.01 |
1.03 |
|
Current Ratio |
1.42 |
1.37 |
1.40 |
1.14 |
1.15 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
9 |
27 |
10 |
12 |
9 |
|
Debtors Ratio |
20 |
16 |
7 |
21 |
15 |
|
Creditors Ratio |
19 |
23 |
3 |
6 |
3 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.44 |
1.79 |
3.06 |
4.73 |
5.31 |
|
Liabilities Ratio |
2.38 |
2.98 |
3.59 |
7.37 |
9.37 |
|
Times Interest Earned Ratio |
43.21 |
8.52 |
9.05 |
16.67 |
9.74 |
|
Assets Backing Ratio |
83.54 |
49.09 |
50.51 |
31.23 |
19.87 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
4.74 |
1.89 |
1.95 |
1.94 |
1.19 |
|
Net Profit Margin |
4.15 |
1.73 |
1.76 |
1.74 |
0.97 |
|
Return On Net Assets |
58.17 |
24.56 |
33.78 |
43.19 |
45.72 |
|
Return On Capital Employed |
58.17 |
24.56 |
33.78 |
43.19 |
45.72 |
|
Return On Shareholders' Funds/Equity |
52.96 |
23.89 |
39.94 |
50.33 |
46.20 |
|
Dividend Pay Out Ratio (Times) |
0.10 |
0.29 |
0.20 |
0.23 |
0.08 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.32 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.51 |
|
|
1 |
INR 50.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
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.