|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510314 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN AGRI INTERNATIONAL PTE LTD |
|
|
|
|
Formerly Known As : |
·
AFP AGRI-RESOURCES PTE LTD ·
ALDEBURGH PTE LTD |
|
|
|
|
Registered Office : |
108, Pasir Panjang Road, 06-00, Golden Agri Plaza, 118535 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
17.02.1998 |
|
|
|
|
Com. Reg. No.: |
199800781G |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of crude palm oil and its
related products. |
|
|
|
|
No. of Employees : |
300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.
The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE SUMMARY |
|
REGISTRATION NO. |
: |
199800781G |
||||
|
COMPANY NAME |
: |
GOLDEN AGRI INTERNATIONAL PTE LTD |
||||
|
FORMER NAME |
: |
AFP AGRI-RESOURCES PTE LTD (22/07/1999) |
||||
|
INCORPORATION DATE |
: |
17/02/1998 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
108, PASIR PANJANG ROAD, 06-00, GOLDEN AGRI PLAZA, 118535,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
108, PASIR PANJANG ROAD, 06-00, GOLDEN AGRI PLAZA, 118535,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65900800 |
||||
|
FAX.NO. |
: |
65-62247756 |
||||
|
WEB SITE |
: |
WWW.GOLDENAGRI.COM.SG |
||||
|
CONTACT PERSON |
: |
MILTON SUBIANTO NG ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CRUDE PALM OIL AND ITS RELATED PRODUCTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
2,450,000.00 ORDINARY SHARE, OF A VALUE OF SGD 20,000,000.00 |
||||
|
SALES |
: |
USD 4,891,436,000 [2016] |
||||
|
NET WORTH |
: |
USD 149,976,000 [2016] |
||||
|
STAFF STRENGTH |
: |
300 |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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 crude palm oil and its related products.
The immediate holding company of the Subject is GOLDEN
AGRI-RESOURCES LTD, a company incorporated in MAURITIUS.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
12/04/2018 |
SGD 20,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GOLDEN AGRI-RESOURCES LTD |
C/O SGG CORPORATE SERVICES (MAURITIUS) LTD 33, EDITH CAVELL
STREET, PORT LOUIS 11324 ,MAURITIUS |
T03UF0450G |
2,450,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,450,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
MALAYSIA |
GOLDEN AGRI INTERNATIONAL (L) LTD |
- |
100.00 |
31/12/2016 |
|
|
MALAYSIA |
GOLDEN AGRI INTERNATIONAL (M) LTD |
- |
100.00 |
31/12/2016 |
|
|
965815H |
MALAYSIA |
GOLDEN AGRI INTERNATIONAL (M) TRADING SDN. BHD. |
- |
100.00 |
20/03/2018 |
|
MAURITIUS |
GOLDEN AGRI INTERNATIONAL (MAURITIUS) LTD |
- |
100.00 |
31/12/2016 |
|
|
201131260D |
SINGAPORE |
GOLDEN AGRI INTERNATIONAL INDIA HOLDING PTE. LTD. |
- |
100.00 |
12/04/2018 |
|
CAYMAN ISLANDS |
GOLDEN AGRI INTERNATIONAL TRADING (CAYMAN) LTD |
- |
100.00 |
31/12/2016 |
|
|
198803778N |
SINGAPORE |
GOLDEN AGRI PLAZA PTE. LTD. |
- |
100.00 |
12/04/2018 |
|
INDIA |
GOLDEN AGRI RESOURCES (INDIA) PRIVATE LIMITED |
- |
100.00 |
31/12/2016 |
|
|
MALAYSIA |
GOLDEN AGRI TRADING (L) LTD |
- |
100.00 |
31/12/2016 |
|
|
011 |
KOREA |
SINARKONEX KOREA CO., LTD |
- |
70.00 |
31/12/2016 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
RAFAEL BUHAY CONCEPCION JR |
|
Address |
: |
JL. PRAPANCA IV, 64, KEBAYORAN BARU JAKARTA SELATAN, INDONESIA. |
|
Other Address(es) |
: |
45 JL PRAPANCA IV, NO. 64 KEB BARU, JAKARTA SELATAN INDONESIA |
|
IC / PP No |
: |
P5852393A |
|
Nationality |
: |
FILIPINO |
|
Date of Appointment |
: |
02/08/2002 |
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 |
483067M |
AFP AGRI-RESOURCES TRADING (M) SDN. BHD. |
Director |
31/05/2015 |
0.00 |
- |
MYR204,589.00 |
2016 |
- |
26/03/2018 |
|
2 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
02/08/2002 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
OEI JONG NIAN @ FRANKY OESMAN WIDJAJA |
|
Address |
: |
7A, BISHOPSGATE, 249973, SINGAPORE. |
|
Other Address(es) |
: |
61,GRANGE ROAD, #23-01, 249570, SINGAPORE. |
|
IC / PP No |
: |
S2173296F |
|
Nationality |
: |
INDONESIAN |
|
Date of Appointment |
: |
06/04/1999 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
06/04/1999 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MILTON SUBIANTO NG |
|
Address |
: |
APART PESONA BAHARI TWR TPZ 6A, RT/RW 001/011, MANGGA DUA
SELATAN, JAKARTA PUSAT, INDONESIA. |
|
IC / PP No |
: |
B0277018 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/04/1999 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
06/04/1999 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
DJAFAR WIDJAJA |
|
Address |
: |
83, DALVEY ROAD, 259495, SINGAPORE. |
|
IC / PP No |
: |
S2173297D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/04/1999 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
06/04/1999 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
HEMANT KUMAR BHATT |
|
Address |
: |
6, PEACH GARDEN, 19-06, PEACH GARDEN, 437606, SINGAPORE. |
|
IC / PP No |
: |
S2553719Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
17/01/2017 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
17/01/2017 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
|
2 |
201332066D |
GSW FORWARD PTE. LTD. |
Director |
23/06/2014 |
0.00 |
- |
USD(1,004,571.00) |
2014 |
- |
08/07/2016 |
|
3 |
196654T |
LDT SDN. BHD. |
Director |
05/11/1996 |
0.00 |
- |
MYR24,375.00 |
2009 |
Disolved by Member Voluntary (18/11/2010) |
26/03/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
ANDRE KHOR KAH HIN |
|
Address |
: |
17D, JL.LEBAK BULUS 2, CILANDAK, BARAT CILANDAK, JAKARTA, 12430,
INDONESIA. |
|
IC / PP No |
: |
A34577329 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
03/04/2017 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
03/04/2017 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
CHEN SAU HUA |
|
Address |
: |
1, STIRLING ROAD, SHEPHERD'S HILL ESTATE, 148942, SINGAPORE. |
|
Other Address(es) |
: |
APT BLK 148, MEI LING STREET, #15-107, 140148, SINGAPORE. |
|
IC / PP No |
: |
S6972966E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
02/08/2002 |
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 |
199800781G |
GOLDEN AGRI INTERNATIONAL PTE LTD |
Director |
02/08/2002 |
0.00 |
- |
USD22,663,000.00 |
2016 |
- |
12/04/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
MILTON SUBIANTO NG |
|
Position |
: |
DIRECTOR |
AUDITOR |
|
Auditor |
: |
MOORE STEPHENS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
LYE CHOR MEI |
|
IC / PP No |
: |
S2590497D |
|
|
Address |
: |
34, DAKOTA CRESCENT, 06-04, DAKOTA RESIDENCES, 399936,
SINGAPORE. |
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. |
|
2) |
Name |
: |
PT BANK MANDIRI (PERSERO) TBK |
|
3) |
Name |
: |
THE BANK OF TOKYO LTD |
|
4) |
Name |
: |
FORTIS BANK S.A./N.V. |
|
5) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200706143 |
31/07/2007 |
N/A |
THE BANK OF TOKYO- MITSUBISHI UFJ, LTD. SINGAPORE BRANCH |
- |
Unsatisfied |
|
C200707118 |
30/08/2007 |
N/A |
PT BANK MANDIRI (PERSERO) TBK |
- |
Unsatisfied |
|
C200707120 |
30/08/2007 |
N/A |
PT BANK MANDIRI (PERSERO) TBK |
- |
Unsatisfied |
|
C200707121 |
30/08/2007 |
N/A |
PT BANK MANDIRI (PERSERO) TBK |
- |
Unsatisfied |
|
C200708066 |
27/09/2007 |
N/A |
THE BANK OF TOKYO- MITSUBISHI UFJ, LTD. SINGAPORE BRANCH |
- |
Unsatisfied |
|
C200710393 |
27/11/2007 |
N/A |
FORTIS BANK S.A./N.V. |
- |
Unsatisfied |
|
C200710394 |
27/11/2007 |
N/A |
FORTIS BANK S.A./N.V. |
- |
Unsatisfied |
|
C200808613 |
16/09/2008 |
N/A |
COMMERZBANK AKTIENGESELLSCHAFT |
- |
Unsatisfied |
|
C201206355 |
12/06/2012 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C201307870 |
11/06/2013 |
N/A |
ABN AMRO BANK N.V. |
- |
Unsatisfied |
|
C201308165 |
18/06/2013 |
N/A |
BANCO SANTANDER, S.A. |
- |
Unsatisfied |
|
C201308930 |
02/07/2013 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201507275 |
30/06/2015 |
N/A |
EMIRATES NBD PJSC |
- |
Unsatisfied |
|
C201510985 |
25/09/2015 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201604158 |
20/04/2016 |
N/A |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. SINGAPORE BRANCH |
- |
Unsatisfied |
|
C201611044 |
01/11/2016 |
N/A |
NATIONAL BANK OF KUWAIT S.A.K.P. |
- |
Unsatisfied |
|
C201611890 |
24/11/2016 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C201612877 |
22/12/2016 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201612888 |
22/12/2016 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201702544 |
17/03/2017 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201707100 |
14/07/2017 |
N/A |
THE BANK OF TOKYOMITSUBISHI UFJ, LTD. SINGAPORE BRANCH |
- |
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 winding up petition was found in our databank.
|
LEGAL ACTION |
|
||||||
|
|||||||
|
|||||||
|
Total SETTLED Case(s) : 1 |
|
||||||
|
|||||||
|
Case Status |
: |
SETTLED |
|||||
|
Code No |
: |
99 |
Case No |
: |
738 |
||
|
Year |
: |
2003 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
SUPREME COURT |
|||||
|
Date Filed |
: |
15/07/2003 |
|||||
|
Solicitor |
: |
OW KIM KIT |
|||||
|
Solicitor Firm |
: |
HAQ & SELVAM |
|||||
|
Plaintiff |
: |
FLEET NATIONAL BANK |
|||||
|
DEFENDANTS |
: |
GOLDEN AGRI INTERNATIONAL PTE LTD (199800781) |
|||||
|
Amount Claimed |
: |
32795120.31 |
|||||
|
Nature of Claim |
: |
USD |
|||||
|
Remark |
: |
CREDIT FACILITIES |
|||||
PAYMENT RECORD |
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
300 |
250 |
250 |
150 |
150 |
||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of crude palm
oil and its related products.
The Subject aims to be the best, fully-integrated, global agribusiness and
consumer product company – the partner of choice.
The Subject sells the products based on customer's demands and requirement.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65900800 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
108 PASIR PANJANG ROAD, # 06-00-GOLDEN AGRI PLAZA, SINGAPORE |
|
Current Address |
: |
108, PASIR PANJANG ROAD, 06-00, GOLDEN AGRI PLAZA, 118535,
SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS |
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.11% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
31.89% |
] |
|
|
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. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
28 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
24 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 |
[ |
1.15 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.17 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject
in order to assure its creditors of its ability to meet short term
obligations and the Subject was in a good liquidity position. Thus, we
believe the Subject is able to meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.26 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
3.41 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 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. 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'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 : LIMITED |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical & Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery & Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance & Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS |
|
INDUSTRY : |
TRADING |
|
According to the Ministry of Trade and Industry, the wholesale
& retail trade sector expanded to 3.0% in the fourth quarter of 2017,
moderating from the 3.3% growth in the previous quarter. The wholesale trade
segment was boosted by an improvement in foreign wholesale sales volume,
which more than offset the weakness in domestic wholesale sales volume. For
the whole of 2017, the sector expanded by 2.3%, faster than the 1.0% growth
in 2016. The improvement in growth can be attributed to the wholesale
segment. |
|
|
The domestic wholesale sales volume fell by 1.1% in the fourth
quarter 2017, reversing the 2.0% growth in the preceding quarter. The poorer
outturn was led by declines in the sales volume of household equipment &
furniture (-27%) and general wholesale merchandise (-19%), which outweighed
the increase in the sales volume of telecommunications & computers (20%).
For the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On the other hand, foreign wholesale sales volume rose to 6.2%
in the fourth quarter 2017, a step-up from the 5.1% growth in the preceding
quarter. Growth was driven by expansions in the sales of petroleum &
petroleum-related products (11%t), telecommunications & computers (19%) and
electronic components (16%). However, growth was partly offset by a 20%
decline in the sales volume of metals, timber & construction materials.
For the full year 2017, the foreign wholesale trade index rose by 3.6%,
faster than the increase of 1.5% in the previous year. |
|
|
Besides, retail sales volume rose by 2.1% in the fourth quarter
2017, improving from the 0.9% growth recorded in the third quarter. Growth
was supported by improvements in both motor vehicle and non-motor vehicle
sales volumes. While motor vehicle sales benefitted from an on-year increase
in COE supply, growth in non-motor vehicle sales came on the back of an
improvement in consumer sentiments. Notably, the sales volume of
discretionary goods such as recreational goods, computer & telecommunication
equipment and wearing apparel & footwear grew by 4.6%, 4.3 % and 3.1%
respectively. |
|
|
For the full year 2017, retail sales volume expanded by 1.3%,
similar to the 1.5% growth recorded in 2016. Growth was driven by both motor
vehicle sales and non-motor vehicle sales, which the former rising by 1.5%
and the latter increasing by 1.3%. The rise in non-motor vehicle sales was
underpinned by higher sales of discretionary goods. For instance, the sales
volume of recreational goods (3.9%), watches & jewellery (2.4%), computer
& telecommunications equipment (1.7%) and wearing apparel & footwear
(1.5%) improved in 2017. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
Financials
|
PROFIT
AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
GOLDEN AGRI INTERNATIONAL PTE LTD |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
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 |
4,891,436,000 |
4,415,350,000 |
5,196,091,000 |
4,521,695,000 |
4,568,025,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
4,891,436,000 |
4,415,350,000 |
5,196,091,000 |
4,521,695,000 |
4,568,025,000 |
|
Costs of Goods Sold |
(4,623,089,000) |
(4,113,627,000) |
(4,913,445,000) |
(4,294,672,000) |
(4,422,949,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
268,347,000 |
301,723,000 |
282,646,000 |
227,023,000 |
145,076,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
26,678,000 |
17,898,000 |
20,219,000 |
20,612,000 |
15,244,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
26,678,000 |
17,898,000 |
20,219,000 |
20,612,000 |
15,244,000 |
|
Taxation |
(4,015,000) |
(3,570,000) |
(4,023,000) |
(2,731,000) |
(293,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
22,663,000 |
14,328,000 |
16,196,000 |
17,881,000 |
14,951,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
49,347,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
49,347,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
135,366,000 |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
135,366,000 |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Lease interest |
2,000 |
2,000 |
2,000 |
4,000 |
4,000 |
|
Term loan / Borrowing |
12,328,000 |
10,375,000 |
8,521,000 |
5,712,000 |
6,543,000 |
|
Trust receipts |
- |
- |
- |
- |
5,971,000 |
|
Others |
8,814,000 |
10,283,000 |
13,948,000 |
7,637,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
21,144,000 |
20,660,000 |
22,471,000 |
13,353,000 |
12,518,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,268,000 |
1,806,000 |
2,260,000 |
2,644,000 |
2,492,000 |
|
AMORTIZATION |
654,000 |
767,000 |
1,009,000 |
1,385,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
1,922,000 |
2,573,000 |
3,269,000 |
4,029,000 |
2,492,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
BALANCE
SHEET |
|
GOLDEN AGRI INTERNATIONAL PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,712,000 |
4,638,000 |
4,306,000 |
6,293,000 |
7,492,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
30,717,000 |
30,717,000 |
30,717,000 |
30,717,000 |
30,717,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
30,717,000 |
30,717,000 |
30,717,000 |
30,717,000 |
30,717,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
34,429,000 |
35,355,000 |
35,023,000 |
37,010,000 |
38,209,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
14,780,000 |
58,423,000 |
44,989,000 |
33,280,000 |
2,479,000 |
|
Trade debtors |
377,249,000 |
293,302,000 |
371,561,000 |
380,046,000 |
408,417,000 |
|
Other debtors, deposits & prepayments |
435,846,000 |
53,172,000 |
55,201,000 |
110,016,000 |
52,888,000 |
|
Short term deposits |
- |
- |
- |
- |
10,361,000 |
|
Amount due from holding company |
- |
796,000 |
219,000 |
117,000 |
422,000 |
|
Amount due from subsidiary companies |
18,577,000 |
33,735,000 |
53,225,000 |
27,262,000 |
19,233,000 |
|
Amount due from related companies |
459,670,000 |
905,354,000 |
608,585,000 |
739,675,000 |
192,105,000 |
|
Cash & bank balances |
5,896,000 |
21,130,000 |
12,129,000 |
82,086,000 |
8,650,000 |
|
Others |
28,765,000 |
47,537,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,340,783,000 |
1,413,449,000 |
1,145,909,000 |
1,372,482,000 |
694,555,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,375,212,000 |
1,448,804,000 |
1,180,932,000 |
1,409,492,000 |
732,764,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
305,483,000 |
272,899,000 |
252,820,000 |
241,712,000 |
479,619,000 |
|
Other creditors & accruals |
179,979,000 |
30,426,000 |
9,475,000 |
7,204,000 |
8,041,000 |
|
Hire purchase & lease creditors |
- |
- |
- |
15,000 |
22,000 |
|
Short term borrowings/Term loans |
436,209,000 |
392,297,000 |
301,863,000 |
151,360,000 |
7,500,000 |
|
Other borrowings |
- |
- |
- |
102,182,000 |
86,434,000 |
|
Deposits from customers |
- |
- |
- |
127,000 |
- |
|
Amounts owing to holding company |
25,000 |
- |
- |
- |
- |
|
Amounts owing to related companies |
207,036,000 |
437,871,000 |
274,230,000 |
710,857,000 |
19,236,000 |
|
Provision for taxation |
2,486,000 |
1,294,000 |
580,000 |
1,243,000 |
270,000 |
|
Lease payables |
- |
11,000 |
14,000 |
- |
- |
|
Other liabilities |
19,470,000 |
80,649,000 |
46,245,000 |
23,587,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,150,688,000 |
1,215,447,000 |
885,227,000 |
1,238,287,000 |
601,122,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
190,095,000 |
198,002,000 |
260,682,000 |
134,195,000 |
93,433,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
74,548,000 |
106,044,000 |
182,708,000 |
74,389,000 |
52,691,000 |
|
Lease obligations |
- |
- |
12,000 |
27,000 |
43,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
74,548,000 |
106,044,000 |
182,720,000 |
74,416,000 |
52,734,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
135,366,000 |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
135,366,000 |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO |
|
GOLDEN AGRI INTERNATIONAL PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
5,896,000 |
21,130,000 |
12,129,000 |
82,086,000 |
19,011,000 |
|
Net Liquid Funds |
5,896,000 |
21,130,000 |
12,129,000 |
82,086,000 |
19,011,000 |
|
Net Liquid Assets |
175,315,000 |
139,579,000 |
215,693,000 |
100,915,000 |
90,954,000 |
|
Net Current Assets/(Liabilities) |
190,095,000 |
198,002,000 |
260,682,000 |
134,195,000 |
93,433,000 |
|
Net Tangible Assets |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
Net Monetary Assets |
100,767,000 |
33,535,000 |
32,973,000 |
26,499,000 |
38,220,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
47,822,000 |
38,558,000 |
42,690,000 |
33,965,000 |
27,762,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
49,744,000 |
41,131,000 |
45,959,000 |
37,994,000 |
30,254,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
510,757,000 |
498,341,000 |
484,583,000 |
327,973,000 |
146,690,000 |
|
Total Liabilities |
1,225,236,000 |
1,321,491,000 |
1,067,947,000 |
1,312,703,000 |
653,856,000 |
|
Total Assets |
1,375,212,000 |
1,448,804,000 |
1,180,932,000 |
1,409,492,000 |
732,764,000 |
|
Net Assets |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
Net Assets Backing |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
Shareholders' Funds |
149,976,000 |
127,313,000 |
112,985,000 |
96,789,000 |
78,908,000 |
|
Total Share Capital |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
14,610,000 |
|
Total Reserves |
135,366,000 |
112,703,000 |
98,375,000 |
82,179,000 |
64,298,000 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
10.78 |
(15.03) |
14.91 |
(1.01) |
1.29 |
|
Proft/(Loss) Before Tax |
49.06 |
(11.48) |
(1.91) |
35.21 |
9.47 |
|
Proft/(Loss) After Tax |
58.17 |
(11.53) |
(9.42) |
19.60 |
10.32 |
|
Total Assets |
(5.08) |
22.68 |
(16.22) |
92.35 |
4.14 |
|
Total Liabilities |
(7.28) |
23.74 |
(18.65) |
100.76 |
2.21 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.02 |
0.01 |
0.07 |
0.03 |
|
Liquid Ratio |
1.15 |
1.11 |
1.24 |
1.08 |
1.15 |
|
Current Ratio |
1.17 |
1.16 |
1.29 |
1.11 |
1.16 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
1 |
5 |
3 |
3 |
0 |
|
Debtors Ratio |
28 |
24 |
26 |
31 |
33 |
|
Creditors Ratio |
24 |
24 |
19 |
21 |
40 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
3.41 |
3.91 |
4.29 |
3.39 |
1.86 |
|
Liabilities Ratio |
8.17 |
10.38 |
9.45 |
13.56 |
8.29 |
|
Times Interest Earned Ratio |
2.26 |
1.87 |
1.90 |
2.54 |
2.22 |
|
Assets Backing Ratio |
10.27 |
8.71 |
7.73 |
6.62 |
5.40 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.55 |
0.41 |
0.39 |
0.46 |
0.33 |
|
Net Profit Margin |
0.46 |
0.32 |
0.31 |
0.40 |
0.33 |
|
Return On Net Assets |
31.89 |
30.29 |
37.78 |
35.09 |
35.18 |
|
Return On Capital Employed |
21.30 |
16.52 |
14.44 |
19.84 |
21.09 |
|
Return On Shareholders' Funds/Equity |
15.11 |
11.25 |
14.33 |
18.47 |
18.95 |
|
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
|
SGD |
1 |
INR 50.63 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.