MIRA INFORM REPORT

 

 

Report Date :

14.12.2011

 

IDENTIFICATION DETAILS

 

Name :

DORF KETAL CHEMICALS PTE. LTD.

 

 

Registered Office :

25 International Business Park #03-72 German Centre Singapore 609916

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

18.02.2008

 

 

Com. Reg. No.:

200803264E

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Business Representative Offices

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

Payment Behaviour :

--

Litigation :

--

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

:

DORF KETAL CHEMICALS PTE. LTD.

Registration No

:

200803264E

Date of Registration

:

18/02/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

25 INTERNATIONAL BUSINESS PARK #03-72 GERMAN CENTRE SINGAPORE 609916

Date of Change of Address

:

15/03/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. BUSINESS REPRESENTATIVE OFFICES

2. ACTIVITIES OF HEAD AND REGIONAL HEAD OFFICES

Issued Ordinary Capital*

:

$150,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 150,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$150,000.00 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

:

MGI N RAJAN ASSOCIATES

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 454,603.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 187,942.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

MENON SUDHIR ANIPARAMBIL

SHAREHOLDER ID

:

G2451917

NATIONALITY

:

INDIAN

ADDRESS

:

501 SWAPNA LOK, MARVE ROAD MALAD WEST, MUMBAI 400064, INDIA

NO. OF ORD SHARES

:

74,500

% OF SHAREHOLDING

:

49.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

MENON SUBODH VIJAYARAGHAVA

SHAREHOLDER ID

:

G4542086

NATIONALITY

:

INDIAN

ADDRESS

:

401/402 SWAPNA LOK, MARVE ROAD MALAD WEST, MUMBAI 400064, INDIA.

NO. OF ORD SHARES

:

74,500

% OF SHAREHOLDING

:

49.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

DORF-KETAL CHEMICALS INDIA PRIVATE LIMITED

SHAREHOLDER ID

:

T08UF1014A

NATIONALITY

:

NA

ADDRESS

:

1 DORF KETAL TOWER, DMONTE STREET ORLEM, MALAD WEST, MUMBAI 400064, INDIA

NO. OF ORD SHARES

:

1,000

% OF SHAREHOLDING

:

0.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MENON SUDHIR ANIPARAMBIL

ADDRESS

:

501 SWAPNA LOK, MARVE ROAD MALAD WEST, MUMBAI 400064, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

18/02/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G2451917

 

NAME

:

MENON SUBODH VIJAYARAGHAVA

ADDRESS

:

401/402 SWAPNA LOK, MARVE ROAD MALAD WEST, MUMBAI 400064, INDIA.

POSITION

:

DIRECTOR

DATE OF APPT

:

18/02/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G4542086

 

NAME

:

BEULAH SHANTHINI

ADDRESS

:

190 HOLLAND ROAD TOHO MANSION SINGAPORE 278585

POSITION

:

SECRETARY

DATE OF APPT

:

31/05/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2696645J

 

NAME

:

CHOKSI JAY KIRITKUMAR

ADDRESS

:

458 CHOA CHU KANG AVENUE 4 #07-205 SINGAPORE 680458

POSITION

:

DIRECTOR

DATE OF APPT

:

18/02/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

S7687686Z

 

 

KEY PERSONNEL PROFILE

 

Name:

MENON SUDHIR ANIPARAMBIL

NRIC Number:

G2451917

Available Address:

501 SWAPNA LOK, MARVE ROAD MALAD WEST, MUMBAI 400064, INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DORF KETAL CHEMICALS PTE. LTD.

DIRECTOR

18/02/2008

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

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

:

20/07/2011

Date of Last AR

:

19/08/2011

Date of A/C Laid At Last AGM

:

31/03/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2010

% Change

MAR 2009

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

454,603

2,393.16

18,234

Profit/(Loss) Before Tax

21,648

18.72

18,234

Profit After Tax attributable to Shareholders

20,331

15.44

17,611

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

206,167

-14.03

239,810

Current Assets

201,607

-13.81

233,900

Non Current Assets

4,560

-22.84

5,910

 

 

 

 

Total Liabilities

18,225

-91.76

221,199

Current Liabilities

18,225

-91.76

221,199

Non Current Liabilities

0

NA

0

 

 

 

 

Shareholders' Funds

187,942

909.84

18,611

Share Capital

150,000

14,900.00

1,000

Total Reserves

37,942

115.44

17,611

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

MAR 2009

Growth %

 

 

Year-on-Year Growth

2,393.16

NA

 

 

 

Profitability

 

 

Profit Margin (%)

4.47

96.58

Return on Equity (%)

10.82

94.63

Return on Assets (%)

9.86

7.34

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

0.10

11.89

Current Debt/Equity (Times)

0.10

11.89

Long Term Debt To Equity (Times)

0.00

0.00

Total Asset To Total Equity (Times)

1.10

12.89

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

2.21

0.08

Fixed Assets Turnover (Times)

99.69

3.09

 

 

 

Liquidity

 

 

Current Ratio (Times)

11.06

1.06

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 4.47 per cent in FY10 (FY09: 96.58 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.04 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.97 a year ago.

 

 

Liquidity

 

Current ratio stood at 11.06 times in FY10 (FY09: 1.06 times). This means that the company has SINGAPORE, DOLLARS 11.06 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.

 

 

 

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 0.10 times in FY10, as compared with 11.89 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.10 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 10.82 per cent for Subject in the current financial period, as compared to 94.63 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 9.86 per cent (FY09: 7.34 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 2.21 times in FY10 (FY09: 0.08 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.53.40

UK Pound

1

Rs.83.32

Euro

1

Rs.70.44

 

 

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.