MIRA INFORM REPORT

 

 

Report Date :

10.08.2011

 

IDENTIFICATION DETAILS

 

Name :

GOLD KILI TRADING ENTERPRISE (SINGAPORE) PTE LTD

 

 

Registered Office :

9 Woodlands Link Singapore 738723

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.01.1991

 

 

Com. Reg. No.:

199100390E

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Manufacture of coffee powder

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$125,000

Status :

Moderate

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Executive Summary

 

Company Name

:

GOLD KILI TRADING ENTERPRISE (SINGAPORE) PTE LTD

Registration No

:

199100390E

Date of Registration

:

25/01/1991

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

9 WOODLANDS LINK SINGAPORE 738723

Date of Change of Address

:

28/08/2009

Contact No.

:

6854 2775

Fax No.

:

6854 2558

Website

:

www.goldkili.com

Registered Activities

:

1. MANUFACTURE OF COFFEE POWDER

2. MANUFACTURE OF COCOA AND CHOCOLATE POWDER FROM BEANS

Issued Ordinary Capital*

:

$800,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 800,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$800,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

4

Auditor

:

K. A. SEAH & CO

Bankers / Financiers

:

DBS BANK LTD.

UNITED OVERSEAS BANK LIMITED

Turnover

:

SINGAPORE, DOLLARS 12,831,408.00 (FY2009)

Net Worth

:

SINGAPORE, DOLLARS 2,490,874.00 (FY2009)

No. of Bank Charges

:

3

No. of Litigation Suits

:

5

S1000 / SME 500 / FG50 Ranking

:

803 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

604 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2007/2008)

634 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2006/2007)

474 POSITION IN SME 500 Companies Ranked by Return on Equities (2006/2007)

683 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2005/2006)

Compounded Annual Growth Rate (CAGR)

:

12.42% (5 years)

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

S$125,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

NG TECK KHIM

SHAREHOLDER ID

:

S1724027G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

19 TOH TUCK ROAD #04-06 GREEN LODGE SINGAPORE 596683

NO. OF ORD SHARES

:

304,000

% OF SHAREHOLDING

:

38%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

NG TECK CHAI

SHAREHOLDER ID

:

S1613141E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

42 TOH TUCK ROAD #02-04 GOODLUCK GARDEN SINGAPORE 596718

NO. OF ORD SHARES

:

296,000

% OF SHAREHOLDING

:

37%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

NG AI LAY

SHAREHOLDER ID

:

S1386505A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

421 CHOA CHU KANG AVENUE 4 #11-228 SINGAPORE 680421

NO. OF ORD SHARES

:

200,000

% OF SHAREHOLDING

:

25%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

NG TECK CHAI

ADDRESS

:

42 TOH TUCK ROAD #02-04 GOODLUCK GARDEN SINGAPORE 596718

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

25/01/1991

14/11/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1613141E

 

NAME

:

NG TECK KHIM

ADDRESS

:

19 TOH TUCK ROAD #04-06 GREEN LODGE SINGAPORE 596683

POSITION

:

DIRECTOR

DATE OF APPT

:

25/01/1991

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1724027G

 

 

KEY PERSONNEL PROFILE

 

Name:

NG TECK KHIM

NRIC Number:

S1724027G

Available Address:

19 TOH TUCK ROAD #04-06 GREEN LODGE  SINGAPORE 596683

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ACE SYNERGY INTERNATIONAL PRIVATE LIMITED

DIRECTOR

03/07/2006

42000

35.00

2

DELICOFFEE MANUFACTURERS PTE. LTD.

DIRECTOR

13/01/2009

-

-

3

GOLD KILI TRADING ENTERPRISE (SINGAPORE) PTE LTD

DIRECTOR

25/01/1991

304000

38.00

4

LION CITY DISTRIBUTIONS PTE. LTD.

DIRECTOR

13/01/2004

-

-

5

SINGFOOD ALLIANCE PTE. LTD.

DIRECTOR

04/02/2010

-

-

6

SINGFOOD ALLIANCE PTE. LTD.

SECRETARY

04/02/2010

-

-

7

THONG SIEK FOOD INDUSTRY PTE LTD

SHAREHOLDER

-

6463650

4.80

8

TRILLION I.N.C. PTE. LTD.

DIRECTOR

14/06/2011

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

FOODLEVER INC. PTE LTD

LIVE COMPANY

DIRECTOR/SHR

30/03/2001

28/07/2011

2

GOLD KILI TDG ENT

TERMINATION

OWNER

21/01/1988

-

 

 

Bankruptcy Record

 

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

TRILLION I.N.C. PTE. LTD.

50

LION CITY DISTRIBUTIONS PTE. LTD.

47.61

DELICOFFEE MANUFACTURERS PTE. LTD.

40

TRUST ORGANIC HEALTH PTE. LTD.

35

 

 

 

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 3 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201000768

 

Date of Registration

:

22/01/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C200902674

 

Date of Registration

:

08/05/2009

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

3)

Charge No.

:

C200901884

 

Date of Registration

:

27/03/2009

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

 

LITIGATION

 

To date, there have been 5 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

Bef 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

4

District ($80,000 - $250,000)

0

1

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

5330

 

Date of Filing

:

04/05/2000

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

TAN SWEE

 

2)

Court

:

Magistrate Court

 

Case No.

:

15165

 

Date of Filing

:

31/05/2001

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CHNG BAN CHUAN

COMFORT TRANSPORTATION PTE LTD

 

3)

Court

:

Magistrate Court

 

Case No.

:

24592

 

Date of Filing

:

26/08/2002

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(INJURIES)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SEAH CHONG HUP

 

4)

Court

:

District Court

 

Case No.

:

5068

 

Date of Filing

:

04/11/2003

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Injuries)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SIM YEOW KEE

 

5)

Court

:

Magistrate Court

 

Case No.

:

15314

 

Date of Filing

:

16/06/2010

 

Amount

:

3,540.00

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CHANG-SU HUEI-YING

 

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

28/07/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

DEC 2007

DEC 2006

DEC 2005

DEC 2004

Currency

SINGAPORE, DOLLARS

SGD - SIN

SGD - SIN

SGD - SIN

 

Profit and Loss Key Figures

 

 

 

 

 

Turnover

12,831,408

10,299,099

9,143,586

7,577,382

7,144,557

Profit/(Loss) Before Tax

736,415

155,824

163,329

126,984

161,735

Profit After Tax attributable to Shareholders

670,415

151,184

148,429

111,430

155,735

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

8,813,902

4,779,667

4,407,270

4,260,257

3,636,975

Current Assets

3,420,800

2,586,443

2,092,294

1,910,901

1,982,414

Non Current Assets

5,393,102

2,193,224

2,314,976

2,349,356

1,654,561

 

 

 

 

 

 

Total Liabilities

6,323,028

3,244,521

3,023,308

3,024,724

2,512,872

Current Liabilities

3,408,693

2,741,215

2,351,178

2,201,309

2,060,951

Non Current Liabilities

2,914,335

503,306

672,130

823,415

451,921

 

 

 

 

 

 

Shareholders' Funds

2,490,874

1,535,146

1,383,962

1,235,533

1,124,103

Share Capital

800,000

800,000

800,000

800,000

800,000

Total Reserves

1,690,874

735,146

583,962

435,533

324,103

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2007

DEC 2006

DEC 2005

DEC 2004

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

12.64

20.67

6.06

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.22

1.47

1.62

1.47

2.18

Return on Equity (%)

26.91

9.85

10.72

9.02

13.85

Return on Assets (%)

7.61

3.16

3.37

2.62

4.28

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.54

2.11

2.18

2.45

2.24

Current Debt/Equity (Times)

1.37

1.79

1.70

1.78

1.83

Long Term Debt To Equity (Times)

1.17

0.33

0.49

0.67

0.40

Total Asset To Total Equity (Times)

3.54

3.11

3.18

3.45

3.24

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.46

2.15

2.07

1.78

1.96

Fixed Assets Turnover (Times)

2.38

4.70

3.95

3.23

4.32

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.00

0.94

0.89

0.87

0.96

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 12.42% (5 years).

 

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The company yielded a rate of net profit on sales of 5.22 per cent in FY09. The company is now able to book in SINGAPORE, DOLLARS 0.05 of profit for every SINGAPORE, DOLLARS of sales.

 

Liquidity

 

Current ratio stood at 1.00 times in FY09. This means that the company has SINGAPORE, DOLLARS 1.00 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

Leverage

Total debt-to-equity ratio notched 2.54 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.54 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

Efficiency Ratio

Return on equity was 26.91 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 7.61 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 1.46 times in FY09. This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.17

UK Pound

1

Rs.73.72

Euro

1

Rs.64.26

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.