MIRA INFORM REPORT

 

 

Report Date :           

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

KAWAMIN PACIFIC PTE LTD

 

 

Registered Office :

43d Beach Road #05-00 Evershine & Century Complex Singapore 189681

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2007 (Group)

31.03.2011 (Company)

 

 

Date of Incorporation :

21/12/1993

 

 

Com. Reg. No.:

199308442R     

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Personal Service Activities

 

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$87,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Exists

 

 

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

 

 Bottom of Form

 

Executive Summary

 

Company Name

:

KAWAMIN PACIFIC PTE LTD

Registration No

:

199308442R

Date of Registration

:

21/12/1993

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

43D BEACH ROAD #05-00 EVERSHINE & CENTURY COMPLEX SINGAPORE 189681

Date of Change of Address

:

13/01/2007

Contact No.

:

6226 1525

Fax No.

:

6226 2386

Website

:

www.kawamin.com

Registered Activities

:

OTHER PERSONAL SERVICE ACTIVITIES NEC

TRADING IN RAW MATERIALS

Issued Ordinary Capital*

:

$1,850,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,850,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,850,000.00 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

:

NA

Auditor

:

J K MEDORA & CO

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 20,527,899.97 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 1,735,232.53 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

1380 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

1176 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2003/2004)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$87,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

ASIAMIN INVESTMENTS LIMITED

SHAREHOLDER ID

:

T07UF1175B

NATIONALITY

:

NA

ADDRESS

:

PORTCULLIS TRUSTNET CHAMBERS, P O BOX 3444, ROAD TOWN TORTOLA

NO. OF ORD SHARES

:

1,850,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TAKAFUMI KAWAMURA

ADDRESS

:

48-19 3-CHOME SOSHIGAYA SETAGA TOKYO JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/1995

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MN3903877

 

NAME

:

SEET BENG CHOO JEANNE

ADDRESS

:

22 MALACCA STREET #03-02 ROYAL BROTHERS BUILDING SINGAPORE 048980

POSITION

:

SECRETARY

DATE OF APPT

:

02/08/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1234059A

 

NAME

:

PEH POH CHIN

ADDRESS

:

22 MALACCA STREET #03-02 ROYAL BROTHERS BUILDING SINGAPORE 048980

POSITION

:

SECRETARY

DATE OF APPT

:

02/08/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6840069D

 

NAME

:

HEMANT KUMAR HASMUKHRAI AMIN

ADDRESS

:

53 CAIRNHILL ROAD #06-01 CAIRNHILL PLAZA SINGAPORE 229664

POSITION

:

DIRECTOR

DATE OF APPT

:

21/12/1993

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6876555B

 

NAME

:

RACHNA AMIN

ADDRESS

:

53 CAIRNHILL ROAD #06-01 CAIRNHILL PLAZA SINGAPORE 229664

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

31/03/1995

01/04/2009

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6876556J

 

KEY PERSONNEL PROFILE

 

Name:

RACHNA AMIN

NRIC Number:

S6876556J

Available Address:

53 CAIRNHILL ROAD #06-01 CAIRNHILL PLAZA  SINGAPORE 229664

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

KAWAMIN PACIFIC PTE LTD

DIRECTOR

31/03/1995

-

-

2

KAWAMIN PACIFIC PTE LTD

MANAGING DIRECTOR

01/04/2009

-

-

3

RATIONAL CAPITAL MANAGEMENT PTE. LTD.

DIRECTOR

01/08/2007

1

50.00

4

SINGMATES PTE. LTD.

DIRECTOR

12/06/2003

2000

20.00

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

KAWAMIN PTE. LTD.

STRUCK OFF

DIRECTOR

05/07/2004

-

 

 

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 (%)

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

 

             

LITIGATION

 

The following litigation suits were traced against Subject. Case status is as per available database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered.

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

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

0

0

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.

:

9533

 

Date of Filing

:

06/06/1996

 

Amount

:

16,859.65

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

DONALD & MCARTHY PTE LTD

 

Last Update Date

:

28/05/2007

 

 

COMPLIANCE

 

Date of Last AGM

:

03/08/2011

Date of Last AR

:

03/08/2011

Date of A/C Laid At Last AGM

:

31/03/2011
 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2007

Currency

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

Turnover

73,866,908

Profit/(Loss) Before Tax

(566,898)

Profit After Tax attributable to Shareholders

(565,500)

 

 

Balance Sheet Key Figures

 

Total Assets

4,678,643

Current Assets

4,526,485

Non Current Assets

152,158

 

 

Total Liabilities

2,222,940

Current Liabilities

2,220,288

Non Current Liabilities

2,652

 

 

Shareholders' Funds

2,455,703

Share Capital

1,634,060

Total Reserves

821,644

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

 

Growth %

 

Year-on-Year Growth

NA

 

 

Profitability

 

Profit Margin (%)

NA

Return on Equity (%)

NA

Return on Assets (%)

NA

 

 

Leverage

 

Total Debt/Equity (Times)

0.91

Current Debt/Equity (Times)

0.90

Long Term Debt To Equity (Times)

0.00

Total Asset To Total Equity (Times)

1.91

 

 

Asset Management

 

Total Assets Turnover (Times)

15.79

Fixed Assets Turnover (Times)

485.46

 

 

Liquidity

 

Current Ratio (Times)

2.04

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

20,527,900

-29.60

29,158,710

62,139,888

78,924,266

73,173,021

Profit/(Loss) Before Tax

(105,940)

NA

(273,200)

435,960

345,972

(594,426)

Profit After Tax attributable to Shareholders

(105,940)

NA

(273,200)

422,979

348,472

(591,000)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

4,267,994

38.41

3,083,694

3,221,829

4,630,114

4,674,115

Current Assets

4,197,933

41.45

2,967,715

3,075,068

4,488,131

4,512,599

Non Current Assets

70,061

-39.59

115,979

146,761

141,983

161,516

 

 

 

 

 

 

 

Total Liabilities

2,532,762

128.61

1,107,900

945,611

2,373,120

2,415,280

Current Liabilities

2,532,762

128.61

1,107,900

945,611

2,373,120

2,412,628

Non Current Liabilities

0

NA

0

0

0

2,652

 

 

 

 

 

 

 

Shareholders' Funds

1,735,233

-12.18

1,975,794

2,276,217

2,256,994

2,258,836

Share Capital

1,390,956

-6.81

1,492,660

1,510,727

1,540,186

1,634,042

Total Reserves

344,276

-28.74

483,135

765,490

716,808

624,794

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-29.60

-53.08

-21.27

7.86

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-0.52

-0.94

0.68

0.44

-0.81

Return on Equity (%)

-6.11

-13.83

18.58

15.44

-26.16

Return on Assets (%)

-2.48

-8.86

13.13

7.53

-12.64

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.46

0.56

0.42

1.05

1.07

Current Debt/Equity (Times)

1.46

0.56

0.42

1.05

1.07

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.46

1.56

1.42

2.05

2.07

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.81

9.46

19.29

17.05

15.65

Fixed Assets Turnover (Times)

293.00

251.41

423.41

555.87

453.04

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.66

2.68

3.25

1.89

1.87

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.66 times in FY11 (FY10: 2.68 times). This means that the company has SINGAPORE, DOLLARS 1.66 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 1.46 times in FY11, as compared with 0.56 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.46 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

 

We are unable to comment on Subject's return on equity.

 

We are unable to comment on Subject's return on assets.

 

Total assets turnover ratio logged at 4.81 times in FY11 (FY10: 9.46 times). 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.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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.