|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509696 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUNLIGHT MERCANTILE PTE. LTD. |
|
|
|
|
Registered Office : |
39, Robinson Road,
17-03, Robinson Point, 068911 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
26.12.1984 |
|
|
|
|
Com. Reg. No.: |
198404381N |
|
|
|
|
Legal Form : |
Exempt Private
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject
is principally engaged in wholesale of logs, sawn timber, plywood and related
products. |
|
|
|
|
No. of Employees : |
15 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC
OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of 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. |
: |
198404381N |
||||
|
COMPANY
NAME |
: |
SUNLIGHT
MERCANTILE PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
26/12/1984 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
39,
ROBINSON ROAD, 17-03, ROBINSON POINT, 068911, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
39,
ROBINSON ROAD, 17-03, ROBINSON POINT, 068911, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-67226666 |
||||
|
FAX.NO. |
: |
65-67226677 |
||||
|
EMAIL |
: |
SUNLIGHT@SUNLIGHT.COM.SG |
||||
|
WEB
SITE |
: |
WWW.SUNLIGHT.SG |
||||
|
CONTACT
PERSON |
: |
FAZAL
CURRIM BIN MANSOOR SHERIFF ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
3,300,000.00
ORDINARY SHARE, OF A VALUE OF SGD 3,300,000.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
15
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN
|
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
HIGH |
||||
|
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) wholesale of logs, sawn timber, plywood and related products.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
17/05/2018 |
SGD
3,300,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current Shareholder(s)
:
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
FAZAL
CURRIM BIN MANSOOR SHERIFF + |
9,
TANJONG RHU ROAD, 07-04, THE WATERSIDE, 436894, SINGAPORE. |
S2170011H |
2,329,797.00 |
70.60 |
|
ZULAIHAMA
BINTE MEERAMOHIADEEN SYED THAMBY JAFFAR |
9,
TANJONG RHU ROAD, 07-04, THE WATERSIDE 436894 ,SINGAPORE |
S1564167C |
970,203.00 |
29.40 |
|
--------------- |
------ |
|||
|
3,300,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
OMAR
CURRIM S/O FAZAL CURRIM |
|
Address |
: |
55,
MEYER ROAD, 19-04, THE SEAFRONT ON MEYER, 437978, SINGAPORE. |
|
IC / PP
No |
: |
S8121193J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
31/01/2008 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
198404381N |
SUNLIGHT
MERCANTILE PTE. LTD. |
Director |
31/01/2008 |
0.00 |
- |
SGD629,230.00 |
2012 |
- |
17/05/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
FAZAL
CURRIM BIN MANSOOR SHERIFF |
|
Address |
: |
9,
TANJONG RHU ROAD, 07-04, THE WATERSIDE, 436894, SINGAPORE. |
|
IC / PP
No |
: |
S2170011H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
26/12/1984 |
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 |
198404381N |
SUNLIGHT
MERCANTILE PTE. LTD. |
Director |
26/12/1984 |
2,329,797.00 |
70.60 |
SGD629,230.00 |
2012 |
- |
17/05/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
FAZAL
CURRIM BIN MANSOOR SHERIFF |
|
Position |
: |
MANAGING
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
PRUDENTIAL
PUBLIC ACCOUNTING CORPORATION |
|
Auditor'
Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
ZULAIHAMA
BINTE MEERAMOHIADEEN SYED THAMBY JAFFAR |
|
IC / PP
No |
: |
S1564167C |
|
|
Address |
: |
9,
TANJONG RHU ROAD, 07-04, THE WATERSIDE, 436894, SINGAPORE. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OVERSEA-CHINESE
BANKING CORPORATION LIMITED |
|
2) |
Name |
: |
DBS
BANK LTD |
|
3) |
Name |
: |
INDIAN
BANK |
|
4) |
Name |
: |
INDIAN
OVERSEAS BANK |
|
5) |
Name |
: |
CITIBANK
N.A. |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201205522 |
21/05/2012 |
N/A |
INDIAN
OVERSEAS BANK |
- |
Unsatisfied |
|
C201706312 |
28/06/2017 |
N/A |
INDIAN
BANK |
- |
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 |
: |
NO |
|
||
|
Overseas |
: |
YES |
Percentage |
: |
100% |
|
Import
Countries |
: |
ASIA,AFRICA,PAPUA
NEW GUINEA,SOLOMON ISLANDS |
|||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
LOGS,
PLYWOOD AND OTHER WOOD PRODUCTS |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2014 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
20 |
|||||
|
COMPANY |
15 |
15 |
20 |
N/A |
|||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of logs,
sawn timber, plywood and related products.
The Subject is engaged in the trading of timber, building materials, all kinds
of logs, plywood and other wood products.
The Subject sells the products according to its customers's orders.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-67226666 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
GPO BOX
NO 3129 905129 |
|
Current
Address |
: |
39,
ROBINSON ROAD, 17-03, ROBINSON POINT, 068911, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is the Subject's PO Box address.
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
: |
TRADING |
|
According
to the Ministry of Trade and Industry, the wholesale & retail trade
sector expanded to 3.0% in the fourth quarter of 2017, moderating from the
3.3% growth in the previous quarter. The wholesale trade segment was boosted
by an improvement in foreign wholesale sales volume, which more than offset
the weakness in domestic wholesale sales volume. For the whole of 2017, the
sector expanded by 2.3%, faster than the 1.0% growth in 2016. The improvement
in growth can be attributed to the wholesale segment. |
|
|
The
domestic wholesale sales volume fell by 1.1% in the fourth quarter 2017,
reversing the 2.0% growth in the preceding quarter. The poorer outturn was
led by declines in the sales volume of household equipment & furniture
(-27%) and general wholesale merchandise (-19%), which outweighed the
increase in the sales volume of telecommunications & computers (20%). For
the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On the
other hand, foreign wholesale sales volume rose to 6.2% in the fourth quarter
2017, a step-up from the 5.1% growth in the preceding quarter. Growth was
driven by expansions in the sales of petroleum & petroleum-related
products (11%t), telecommunications & computers (19%) and electronic
components (16%). However, growth was partly offset by a 20% decline in the
sales volume of metals, timber & construction materials. For the full
year 2017, the foreign wholesale trade index rose by 3.6%, faster than the
increase of 1.5% in the previous year. |
|
|
Besides,
retail sales volume rose by 2.1% in the fourth quarter 2017, improving from
the 0.9% growth recorded in the third quarter. Growth was supported by
improvements in both motor vehicle and non-motor vehicle sales volumes. While
motor vehicle sales benefitted from an on-year increase in COE supply, growth
in non-motor vehicle sales came on the back of an improvement in consumer
sentiments. Notably, the sales volume of discretionary goods such as
recreational goods, computer & telecommunication equipment and wearing
apparel & footwear grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For the
full year 2017, retail sales volume expanded by 1.3%, similar to the 1.5%
growth recorded in 2016. Growth was driven by both motor vehicle sales and
non-motor vehicle sales, which the former rising by 1.5% and the latter
increasing by 1.3%. The rise in non-motor vehicle sales was underpinned by
higher sales of discretionary goods. For instance, the sales volume of
recreational goods (3.9%), watches & jewellery (2.4%), computer &
telecommunications equipment (1.7%) and wearing apparel & footwear (1.5%)
improved in 2017. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
SUNLIGHT
MERCANTILE PTE. LTD. |
Note :
The Subject is an Exempt Private Company and it is not required by law to file
its financials for public view. The below financials are the last financial
that submitted by the Subject to the Registrar before changed to Exempt Private
Company.
|
Financial
Year End |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
Months |
12 |
12 |
6 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
140,162,279 |
89,790,599 |
52,493,307 |
|
Other
Income |
1,175,351 |
449,214 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
141,337,630 |
90,239,813 |
52,493,307 |
|
Costs
of Goods Sold |
(137,012,129) |
(87,297,465) |
(50,418,433) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
4,325,501 |
2,942,348 |
2,074,874 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
703,305 |
328,685 |
371,538 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
703,305 |
328,685 |
371,538 |
|
Taxation |
(74,075) |
(49,222) |
(38,260) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
629,230 |
279,463 |
333,278 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
629,230 |
279,463 |
333,278 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
629,230 |
279,463 |
333,278 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
6,012,409 |
5,732,946 |
5,399,668 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
6,012,409 |
5,732,946 |
5,399,668 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
6,641,639 |
6,012,409 |
5,732,946 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
6,641,639 |
6,012,409 |
5,732,946 |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Bank
overdraft |
4,089 |
1,527 |
393 |
|
Trust
receipts |
490,802 |
296,067 |
138,539 |
|
Others |
1,092,721 |
404,504 |
367,873 |
|
---------------- |
---------------- |
---------------- |
|
|
1,587,612 |
702,098 |
506,805 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
BALANCE SHEET
|
|
SUNLIGHT
MERCANTILE PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
184,422 |
203,935 |
33,099 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||
|
Investment
properties |
89,479 |
92,855 |
96,229 |
|
Investments |
500 |
500 |
- |
|
Others |
- |
- |
500 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
89,979 |
93,355 |
96,729 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
274,401 |
297,290 |
129,828 |
|
CURRENT
ASSETS |
|||
|
Stocks |
2,233,926 |
4,993,440 |
1,177,274 |
|
Trade
debtors |
43,882,731 |
31,995,925 |
32,763,541 |
|
Other
debtors, deposits & prepayments |
1,281,704 |
979,672 |
1,623,747 |
|
Short
term deposits |
5,627,446 |
4,066,096 |
4,010,221 |
|
Interest
receivable |
11,081 |
9,960 |
- |
|
Amount
due from related companies |
1,366,782 |
977,333 |
- |
|
Amount
due from director |
193,989 |
40,720 |
- |
|
Cash
& bank balances |
196,148 |
415,624 |
766,471 |
|
Others |
3,109,786 |
3,629,337 |
2,333,023 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
57,903,593 |
47,108,107 |
42,674,277 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
58,177,994 |
47,405,397 |
42,804,105 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
6,344,868 |
1,353,171 |
304,805 |
|
Other
creditors & accruals |
2,175,610 |
357,026 |
1,100,441 |
|
Bank
overdraft |
17,841 |
55,015 |
- |
|
Other
borrowings |
25,345,817 |
18,441,964 |
7,740,614 |
|
Deposits
from customers |
117,327 |
85,775 |
- |
|
Bill
& acceptances payable |
13,085,561 |
16,653,304 |
24,548,914 |
|
Amounts
owing to related companies |
1,114,759 |
1,092,801 |
- |
|
Provision
for taxation |
30,499 |
50,439 |
76,385 |
|
Other
liabilities |
4,073 |
3,493 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
48,236,355 |
38,092,988 |
33,771,159 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
9,667,238 |
9,015,119 |
8,903,118 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
9,941,639 |
9,312,409 |
9,032,946 |
|
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
3,300,000 |
3,300,000 |
3,300,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
3,300,000 |
3,300,000 |
3,300,000 |
|
RESERVES |
|||
|
Retained
profit/(loss) carried forward |
6,641,639 |
6,012,409 |
5,732,946 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
6,641,639 |
6,012,409 |
5,732,946 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
9,941,639 |
9,312,409 |
9,032,946 |
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL RATIO
|
|
SUNLIGHT
MERCANTILE PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
5,823,594 |
4,481,720 |
4,776,692 |
|
Net
Liquid Funds |
(7,279,808) |
(12,226,599) |
(19,772,222) |
|
Net
Liquid Assets |
7,433,312 |
4,021,679 |
7,725,844 |
|
Net
Current Assets/(Liabilities) |
9,667,238 |
9,015,119 |
8,903,118 |
|
Net
Tangible Assets |
9,941,639 |
9,312,409 |
9,032,946 |
|
Net
Monetary Assets |
7,433,312 |
4,021,679 |
7,725,844 |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
2,290,917 |
1,030,783 |
878,343 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
2,290,917 |
1,030,783 |
878,343 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
38,449,219 |
35,150,283 |
32,289,528 |
|
Total
Liabilities |
48,236,355 |
38,092,988 |
33,771,159 |
|
Total
Assets |
58,177,994 |
47,405,397 |
42,804,105 |
|
Net
Assets |
9,941,639 |
9,312,409 |
9,032,946 |
|
Net
Assets Backing |
9,941,639 |
9,312,409 |
9,032,946 |
|
Shareholders'
Funds |
9,941,639 |
9,312,409 |
9,032,946 |
|
Total
Share Capital |
3,300,000 |
3,300,000 |
3,300,000 |
|
Total
Reserves |
6,641,639 |
6,012,409 |
5,732,946 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||
|
Revenue |
56.10 |
71.05 |
- |
|
Proft/(Loss)
Before Tax |
113.98 |
(11.53) |
- |
|
Proft/(Loss)
After Tax |
125.16 |
(16.15) |
- |
|
Total
Assets |
22.72 |
10.75 |
- |
|
Total
Liabilities |
26.63 |
12.80 |
- |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.12 |
0.12 |
0.14 |
|
Liquid
Ratio |
1.15 |
1.11 |
1.23 |
|
Current
Ratio |
1.20 |
1.24 |
1.26 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
6 |
20 |
8 |
|
Debtors
Ratio |
114 |
130 |
228 |
|
Creditors
Ratio |
17 |
6 |
2 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
3.87 |
3.77 |
3.57 |
|
Liabilities
Ratio |
4.85 |
4.09 |
3.74 |
|
Times
Interest Earned Ratio |
1.44 |
1.47 |
1.73 |
|
Assets
Backing Ratio |
3.01 |
2.82 |
2.74 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
0.50 |
0.37 |
0.71 |
|
Net
Profit Margin |
0.45 |
0.31 |
0.63 |
|
Return
On Net Assets |
23.04 |
11.07 |
9.72 |
|
Return
On Capital Employed |
23.00 |
11.00 |
9.72 |
|
Return
On Shareholders' Funds/Equity |
6.33 |
3.00 |
3.69 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
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
: |
NIY |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.