MIRA INFORM REPORT

 

 

Report Date :

26.08.2011

 

IDENTIFICATION DETAILS

 

Name :

PROFESSIONAL AUDIO VIDEO PTE. LTD.

 

 

Registered Office :

35 Jalan Besar Singapore 208800

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

29.01.2003

 

 

Com. Reg. No.:

200300922G

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Retail Sale of cameras and other photographic goods audio and video equipment

 

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$60,000

 

 

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 – 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

:

PROFESSIONAL AUDIO VIDEO PTE. LTD.

Registration No

:

200300922G

Date of Registration

:

29/01/2003

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

35 JALAN BESAR SINGAPORE 208800

Date of Change of Address

:

10/07/2003

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. RETAIL SALE OF CAMERAS AND OTHER PHOTOGRAPHIC GOODS AUDIO AND VIDEO EQUIPMENT

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

GENERAL TRADING

Issued Ordinary Capital*

:

$500,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 500,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$500,000.00 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

:

HAJAMAIDEEN & CO.

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 19,846,224.00 (FY2007)

Net Worth

:

SGD - SIN 1,190,455.00 (FY2007)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

45.43% (3 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$60,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

ANIL KUMAR AGGARWAL

SHAREHOLDER ID

:

G6093876N

NATIONALITY

:

AMERICAN

ADDRESS

:

35 JALAN BESAR SINGAPORE 208800

NO. OF ORD SHARES

:

499,999

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

MUKTA AGGARWAL

SHAREHOLDER ID

:

132874053

NATIONALITY

:

AMERICAN

ADDRESS

:

4127 MARLOWE STREET, HOUSTON, TEXAS 77005, U.S.A.

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MUKTA AGGARWAL

ADDRESS

:

4127 MARLOWE STREET, HOUSTON, TEXAS 77005, U.S.A.

POSITION

:

DIRECTOR

DATE OF APPT

:

15/01/2008

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

132874053

 

NAME

:

ANIL KUMAR AGGARWAL

ADDRESS

:

35 JALAN BESAR SINGAPORE 208800

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

29/01/2003

21/07/2008

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G6093876N

 

 

KEY PERSONNEL PROFILE

 

Name:

ANIL KUMAR AGGARWAL

NRIC Number:

G6093876N

Available Address:

35 JALAN BESAR  SINGAPORE 208800

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

PROFESSIONAL AUDIO VIDEO PTE. LTD.

DIRECTOR

29/01/2003

499999

99.99

2

PROFESSIONAL AUDIO VIDEO PTE. LTD.

SECRETARY

21/07/2008

499999

99.99

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

DIGITAL AUDIO VIDEO PTE LTD

STRUCK OFF

DIRECTOR

25/07/2001

-

 

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

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

24/09/2009

Date of Last AR

:

18/01/2011

Date of A/C Laid At Last AGM

:

31/03/2009

 

 

FINANCIAL HIGHLIGHTS

 

Note:

The last available financial are for the year 2007. Unfortunately the company has not published the financials after 2007.

 

 

Financial Figures

Company

 

MAR 2007

% Change

MAR 2006

MAR 2005

MAR 2004

Currency

SGD - SIN

 

SGD - SIN

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

19,846,224

-2.76

20,409,364

19,459,188

6,451,821

Profit/(Loss) Before Tax

232,087

11.87

207,463

197,657

137,702

Profit After Tax attributable to Shareholders

211,627

20.06

176,270

178,126

124,432

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

5,045,996

43.26

3,522,345

4,266,459

2,854,813

Current Assets

5,045,667

43.27

3,521,868

4,263,175

2,849,655

Non Current Assets

329

-31.03

477

3,284

5,158

 

 

 

 

 

 

Total Liabilities

3,855,541

51.58

2,543,517

3,463,901

2,230,381

Current Liabilities

3,855,541

51.58

2,543,517

3,463,901

2,230,381

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

1,190,455

21.62

978,828

0

624,432

Share Capital

500,000

0.00

500,000

500,000

500,000

Total Reserves

690,455

44.20

478,828

302,558

124,432

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2007

MAR 2006

MAR 2005

MAR 2004

Growth %

 

 

 

 

Year-on-Year Growth

-2.76

4.88

201.61

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

1.07

0.86

0.92

1.93

Return on Equity (%)

17.78

18.01

0.00

19.93

Return on Assets (%)

4.19

5.00

4.18

4.36

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

3.24

2.60

0.00

3.57

Current Debt/Equity (Times)

3.24

2.60

0.00

3.57

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

4.24

3.60

0.00

4.57

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.93

5.79

4.56

2.26

Fixed Assets Turnover (Times)

60,322.87

42,786.93

5,925.45

1,250.84

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.31

1.38

1.23

1.28

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 45.43% (3 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 1.07 per cent in FY07 (FY06: 0.86 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY07, as compared with SGD - SIN 0.01 a year ago.

 

 

Liquidity

Current ratio stood at 1.31 times in FY07 (FY06: 1.38 times). This means that the company has SGD - SIN 1.31 of current assets for every SGD - SIN 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 3.24 times in FY07, compared with 2.60 times in FY06. This means that the company requires additional external financing of SGD - SIN 3.24 for every SGD - SIN 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 17.78 per cent for Subject in the current financial period, as compared to 18.01 per cent a year ago. 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 4.19 per cent (FY06: 5.00 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 3.93 times in FY07 (FY06: 5.79 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.46.13

UK Pound

1

Rs.75.52

Euro

1

Rs.66.53

 

 

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

 

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.