|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509153 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPRING KNITWEAR PRIVATE LIMITED |
|
|
|
|
Registered Office : |
11, Tuas Road, 638506 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
29.07.1976 |
|
|
|
|
Com. Reg. No.: |
197601554K |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is engaged in the manufacture of outer
garments. |
|
|
|
|
No. of Employees : |
30 |
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 |
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|
|
|
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. |
: |
197601554K |
||||
|
COMPANY NAME |
: |
SPRING KNITWEAR PRIVATE LIMITED |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
29/07/1976 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
11, TUAS ROAD, 638506, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
11 TUAS ROAD, 638506, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62681111 |
||||
|
FAX.NO. |
: |
65-62652216 |
||||
|
CONTACT PERSON |
: |
CHEW TUAN KHAI ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF OUTER GARMENTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 580,000.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
30 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND |
The Subject is an exempt private
company whose shares are not held by any corporate body and has no more than 20
shareholders who are all natural persons. An exempt company is a type of
private limited company. A private limited company is a separate legal entity
from its shareholders. As a separate legal entity, the Subject is capable of
owning assets, entering into contracts, suing or be sued by other companies.
An exempt private company with an
annual turnover of ≤ SGD10 million, or total assets ≤ SGD10 million
or number of employees ≤ 50 (meet at least 2 criteria for immediate past
two financial years) are exempted from statutory auditing requirements. The
Subject is not required to have their accounts audited. However, the Subject
will prepare unaudited accounts for purposes of AGMs and filing with Registry
Office if it is unable to meet all its obligations as and when they fall due.
An exempt private company with an annual turnover of more than
SGD10 million, or total assets more than SGD10 million or number of employees
more than 50 (meet at least 2 criteria for immediate past two financial years)
are required to file the audited financial.
The Subject is principally engaged in the (as a / as an)
manufacture of outer garments.
Former Address(es)
|
Address |
As At Date |
|
11, SECOND CHIN BEE ROAD,, 618777 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/05/2018 |
SGD 580,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHEW TUAN KHAI + |
371, HOLLAND ROAD, 20 - 03, THE SERENADE @ HOLLAND, 278698,
SINGAPORE. |
S0205273C |
321,000.00 |
64.20 |
|
WANG MEI LI + |
371, HOLLAND ROAD, 20 - 03, THE SERENADE @ HOLLAND, 278698,
SINGAPORE. |
S0074887J |
64,000.00 |
12.80 |
|
CHEW CHEN TIN |
100, CLEMENCEAU AVENUE NORTH, 13 - 107, CAVENAGH HOUSE 229491
,SINGAPORE |
S7504591C |
48,000.00 |
9.60 |
|
LIAO CHYUE SUNG |
25, DAIRY FARM ROAD, 01 - 04 679047 ,SINGAPORE |
S2221836J |
30,000.00 |
6.00 |
|
CHEW TUAN PIN |
70, REDHILL CLOSE, 18 - 90 150070 ,SINGAPORE |
S1158819J |
25,000.00 |
5.00 |
|
CHEW TUAN CHIONG |
97, JALAN DERMAWAN, HILLVIEW ESTATE 669048 ,SINGAPORE |
S1228231A |
6,000.00 |
1.20 |
|
TAN LEE ENG |
104, TECK WHYE LANE, 03 - 458 680104 ,SINGAPORE |
S1319061E |
3,000.00 |
0.60 |
|
TAN KHAR NGIM |
116, PENDING ROAD, 10 - 190 670116 ,SINGAPORE |
S1217446B |
3,000.00 |
0.60 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates)
are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
198803972W |
SINGAPORE |
TUAN CHIN HOLDING PTE. LTD. |
- |
100.00 |
15/05/2018 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
WANG MEI LI |
|
Address |
: |
371, HOLLAND ROAD, 20 - 03, THE SERENADE @ HOLLAND, 278698,
SINGAPORE. |
|
IC / PP No |
: |
S0074887J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
12/08/1976 |
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 |
197601554K |
SPRING KNITWEAR PRIVATE LIMITED |
Director |
12/08/1976 |
64,000.00 |
12.80 |
SGD252,691.24 |
2010 |
- |
15/05/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
CHEW TUAN KHAI |
|
Address |
: |
371, HOLLAND ROAD, 20 - 03, THE SERENADE @ HOLLAND, 278698,
SINGAPORE. |
|
IC / PP No |
: |
S0205273C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
14/03/1979 |
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 |
197601554K |
SPRING KNITWEAR PRIVATE LIMITED |
Director |
14/03/1979 |
321,000.00 |
64.20 |
SGD252,691.24 |
2010 |
- |
15/05/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
CHEW TUAN KHAI |
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
AUDIT TRUST PAC |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
TAN CHIN CHIN |
|
IC / PP No |
: |
S8072829H |
|
|
Address |
: |
57, PASIR RIS DRIVE 1, 08 - 11, BELYSA, 519531, SINGAPORE. |
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD CHARTERED BANK |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201605004 |
18/05/2016 |
N/A |
CIMB BANK BERHAD |
- |
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 |
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
30 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of outer
garments.
The Subject is engaged in the manufacturing of knitted garments and wearing
apparels.
|
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62681111 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
11 TUAS ROAD, 638506 |
|
Current Address |
: |
11 TUAS ROAD, 638506, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she 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 : |
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 : |
MANUFACTURING |
|
The manufacturing sector
expanded by 4.8% in the fourth quarter, supported largely by robust output
growth in the electronics and precision engineering clusters. For the whole
of 2017, the manufacturing sector grew by 10%, accelerating from the 3.7%
expansion in 2016. Growth was largely driven by the electronics and precision
engineering clusters, even as the biomedical manufacturing, transport
engineering and general manufacturing industries clusters contracted. |
|
|
The electronics cluster grew by
24% in the fourth quarter 2017, largely due to the semiconductors segment,
which expanded by 35%. Specifically, the semiconductors segment benefitted
from robust global semiconductors demand, which was in turn driven by key end
markets such as the smartphone market. At the same time, the computer
peripherals segment registered healthy growth of 9.5%, supported by buoyant
demand for printer-related products. On the other hand, the data storage and
other electronic modules & components segments contracted by 25% and 7.5%
respectively. For the full year, the electronics cluster expanded by 34% as
the healthy performance of the semiconductors and computer peripherals
segments more than offset the weakness in the data storage segment. |
|
|
In fourth quarter 2017, the
precision engineering cluster expanded to 20%, supported by both the
precision modules & components (PMC) and machinery & systems
(M&S) segments. Output in the PMC segment rose by 40% due to an increase
in the production of dies, moulds, tools, jigs & fixture, optical
instruments and metal precision components. Meanwhile, the M&S segment
grew by 8.9% in tandem with healthy export demand for semiconductor
manufacturing equipment. For the whole of 2017, the output of the precision
engineering cluster rose by 18% on account of robust expansions in both
segments. |
|
|
The chemicals cluster grew by
12% in the fourth quarter 2017, with all segments recording growth. In
particular, the petrochemicals segment grew by 23% on the back of production
capacity expansions, while the petroleum segment expanded by 13% supported by
higher refining margins. At the same time, the other chemicals and
specialties segments posted growth of 8.1% and 6.2%respectively. For 2017 as
a whole, the chemicals cluster expanded by 6.2%, supported by growth in all
segments. |
|
|
Besides, output of the general
manufacturing industries cluster increased to 6.6% in the fourth quarter
2017, primarily due to the strong performance of the food, beverages &
tobacco (FBT) segment, which grew by 18% on the back of a surge in the
production of beverages products. On the other hand, the printing segment
shrank by 11% due to weak demand for commercial printing, while output in the
miscellaneous industries segment declined by 0.6% on account of a lower production
of construction-related materials. For the whole of 2017, the general
manufacturing industries cluster contracted by 1.6%, as output declines in
the printing and miscellaneous industries segments outweighed output gains in
the FBT segment. |
|
|
Moreover, output of the
transport engineering cluster fell by 7.8% in the fourth quarter 2017. The
aerospace segment recorded robust growth of 13% due to a higher volume of
repair and maintenance work from commercial airlines. However, this was more
than offset by output declines in the marine & offshore engineering
(M&OE) and land transport segments of 22% and 11% respectively. In
particular, the M&OE segment remained weak on account of low levels of
rig-building, shipbuilding and repair activities. For the full year 2017, the
transport engineering cluster shrank by 6.9%, dragged down mainly by the
M&OE segment. |
|
|
The biomedical manufacturing
cluster contracted by 28% in the fourth quarter 2017, weighed down by the
pharmaceuticals segment (-37%) on the back of a drop in the production of
active pharmaceutical ingredients and biological products. However, the
medical technology segment, which grew at a healthy pace of 3.3%, provided
some support to the cluster. For 2017 as a whole, output in the biomedical manufacturing
cluster fell by 9.3%, led by the output decline in the pharmaceuticals
segment. |
|
|
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. |
|
SPRING KNITWEAR PRIVATE LIMITED |
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 |
2010-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
SGD |
|
TURNOVER |
30,443,941 |
|
---------------- |
|
|
Total Turnover |
30,443,941 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
439,697 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
439,697 |
|
Taxation |
(187,005) |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
252,691 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
252,691 |
|
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
252,691 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
(207,145) |
|
---------------- |
|
|
As restated |
(207,145) |
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
45,547 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
45,547 |
|
============= |
|
|
|
|
BALANCE SHEET |
|
|
|
SPRING KNITWEAR PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
2,277,038 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,277,038 |
|
CURRENT ASSETS |
|
|
TOTAL CURRENT ASSETS |
9,640,831 |
|
---------------- |
|
|
TOTAL ASSET |
11,917,869 |
|
============= |
|
|
CURRENT LIABILITIES |
|
|
TOTAL CURRENT LIABILITIES |
12,171,135 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(2,530,304) |
|
---------------- |
|
|
LONG TERM LIABILITIES |
|
|
TOTAL LONG TERM LIABILITIES |
108,709 |
|
---------------- |
|
|
TOTAL NET ASSETS |
(361,975) |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
580,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
580,000 |
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
45,547 |
|
Others |
(987,521) |
|
---------------- |
|
|
TOTAL RESERVES |
(941,975) |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(361,975) |
|
============= |
|
|
|
|
FINANCIAL RATIO |
|
|
|
SPRING KNITWEAR PRIVATE LIMITED |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
(2,530,304) |
|
Net Current Assets/(Liabilities) |
(2,530,304) |
|
Net Tangible Assets |
(361,975) |
|
Net Monetary Assets |
(2,639,013) |
|
BALANCE SHEET ITEMS |
|
|
Total Liabilities |
12,279,844 |
|
Total Assets |
11,917,869 |
|
Net Assets |
(361,975) |
|
Net Assets Backing |
(361,975) |
|
Shareholders' Funds |
(361,975) |
|
Total Share Capital |
580,000 |
|
Total Reserves |
(941,975) |
|
LIQUIDITY (Times) |
|
|
Current Ratio |
0.79 |
|
SOLVENCY RATIOS (Times) |
|
|
Liabilities Ratio |
(33.92) |
|
Assets Backing Ratio |
(0.62) |
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
1.44 |
|
Net Profit Margin |
0.83 |
|
Return On Net Assets |
(121.47) |
|
Return On Capital Employed |
(173.61) |
|
Return On Shareholders' Funds/Equity |
(69.81) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.72 |
|
|
1 |
INR 91.65 |
|
Euro |
1 |
INR 79.89 |
|
SGD |
1 |
INR 50.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
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.