MIRA INFORM REPORT

 

 

Report Date :           

14.12.2011

 

IDENTIFICATION DETAILS

 

Name :

INOUT ENTERPRISE PTE. LTD.

 

 

Registered Office :

196 Pandan Loop #01-20 Pantech Business Hub Singapore 128384

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2010 (Group)

30.06.2010 (Company)

 

 

Date of Incorporation :

08.03.1991

 

 

Com. Reg. No.:

199100992n

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General Wholesale Trade

 

 

No. of Employees :

Not Available

 

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$446,000

 

 

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 – September 30th, 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

:

INOUT ENTERPRISE PTE. LTD.

Registration No

:

199100992N

Date of Registration

:

08/03/1991

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

196 PANDAN LOOP #01-20 PANTECH BUSINESS HUB SINGAPORE 128384

Date of Change of Address

:

15/05/2008

Contact No.

:

6276 6123

Fax No.

:

6276 1516

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$1,900,576.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,852,576

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,900,576.00 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

:

A. L. LEE & CO.

Bankers / Financiers

:

UNITED OVERSEAS BANK LIMITED

Turnover

:

SINGAPORE, DOLLARS 14,024,192.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 4,457,837.00 (FY2010)

No. of Bank Charges

:

2

No. of Litigation Suits

:

2

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

8.8% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$446,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

ANG HWEE TONG MATTHEW

SHAREHOLDER ID

:

S7006869I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

113 BISHAN STREET 12 #02-118 BISHAN VIEW SINGAPORE 570113

NO. OF ORD SHARES

:

1,275,360

% OF SHAREHOLDING

:

68.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIM HUA KEOW

SHAREHOLDER ID

:

S6934898Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

62 MEI HWAN DRIVE #17-06 GOLDENHILL PARK CONDOMINIUM SINGAPORE 568427

NO. OF ORD SHARES

:

234,896

% OF SHAREHOLDING

:

12.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SIHA

SHAREHOLDER ID

:

S881144

NATIONALITY

:

INDONESIAN

ADDRESS

:

JL. GN. MERAPI-23 BALOI INDAH RT 03/01 KAMPUNG PELITA BATAM, INDONESIA

NO. OF ORD SHARES

:

105,015

% OF SHAREHOLDING

:

5.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

INTIRA LERTZANGAR

SHAREHOLDER ID

:

S2557583J

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

341 WOODLANDS AVENUE 1 #12-609 SINGAPORE 730341

NO. OF ORD SHARES

:

58,000

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

HENG LEE HUAT

SHAREHOLDER ID

:

S1814836F

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

88 TELOK BLANGAH HEIGHTS #22-353 SINGAPORE 100088

NO. OF ORD SHARES

:

53,304

% OF SHAREHOLDING

:

2.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

YONG KHAI YEE

SHAREHOLDER ID

:

S7340808C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

685A CHOA CHU KANG CRESCENT #14-288 SINGAPORE 681685

NO. OF ORD SHARES

:

30,924

% OF SHAREHOLDING

:

1.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEE KENG FOO

SHAREHOLDER ID

:

S6809433Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

167 HOUGANG AVENUE 1 #10-1552 SINGAPORE 530167

NO. OF ORD SHARES

:

25,787

% OF SHAREHOLDING

:

1.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHUA BEE LAN

SHAREHOLDER ID

:

S7006105H

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

167 HOUGANG AVENUE 1 #10-1552 SINGAPORE 530167

NO. OF ORD SHARES

:

25,787

% OF SHAREHOLDING

:

1.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIM EE YOUNG

SHAREHOLDER ID

:

A19356044

NATIONALITY

:

MALAYSIAN

ADDRESS

:

39 CANTON DRIVE OFF KAMPAR ROAD 30250 IPOH, PERAK, MALAYASIA

NO. OF ORD SHARES

:

20,965

% OF SHAREHOLDING

:

1.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOKE SAI WENG

SHAREHOLDER ID

:

S7775565I

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

85 COMMONWEALTH CLOSE #06-75 SINGAPORE 140085

NO. OF ORD SHARES

:

12,055

% OF SHAREHOLDING

:

0.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

KOH YEOW KIM

SHAREHOLDER ID

:

S7137694Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

973 HOUGANG STREET 91 #08-210 SINGAPORE 530973

NO. OF ORD SHARES

:

10,483

% OF SHAREHOLDING

:

0.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

HENG LEE HUAT

ADDRESS

:

88 TELOK BLANGAH HEIGHTS #22-353 SINGAPORE 100088

POSITION

:

DIRECTOR

DATE OF APPT

:

10/06/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1814836F

 

NAME

:

LIM HUA KEOW

ADDRESS

:

62 MEI HWAN DRIVE #17-06 GOLDENHILL PARK CONDOMINIUM SINGAPORE 568427

POSITION

:

DIRECTOR

DATE OF APPT

:

10/06/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6934898Z

 

NAME

:

ANG HWEE TONG MATTHEW

ADDRESS

:

113 BISHAN STREET 12 #02-118 BISHAN VIEW SINGAPORE 570113

POSITION

:

DIRECTOR

DATE OF APPT

:

11/02/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7006869I

 

NAME

:

LOKE SAI WENG

ADDRESS

:

85 COMMONWEALTH CLOSE #06-75 SINGAPORE 140085

POSITION

:

SECRETARY

DATE OF APPT

:

06/11/2004

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7775565I

 

 

KEY PERSONNEL PROFILE

 

Name:

ANG HWEE TONG MATTHEW

NRIC Number:

S7006869I

Available Address:

113 BISHAN STREET 12 #02-118 BISHAN VIEW  SINGAPORE 570113

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

INOUT ENTERPRISE PTE. LTD.

DIRECTOR

11/02/2000

1275360

68.84

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

MOMATT TRADING

TERMINATION

MANAGER

25/05/1992

-

2

MOMATT TRADING

TERMINATION

OWNER

25/05/1992

-

3

MOMATT TRADING (S) PTE LTD

STRUCK OFF

DIRECTOR

08/10/1992

-

 

 

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 have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201108046

 

Date of Registration

:

04/07/2011

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

2)

Charge No.

:

C201107698

 

Date of Registration

:

27/06/2011

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

             

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).

 

To date, there have been 2 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

2

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.

:

9458

 

Date of Filing

:

21/04/2005

 

Amount

:

2,360.40

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

AW YUAN KAI

 

Last Update Date

:

22/06/2011

 

2)

Court

:

Magistrate Court

 

Case No.

:

1399

 

Date of Filing

:

16/01/2009

 

Amount

:

8,843.60

 

Cause

:

Tort - Negligence (Motor Accidents)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

PREMIER TAXIS PTE LTD

 

Last Update Date

:

22/06/2011

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

25/10/2011

Date of Last AR

:

24/11/2011

Date of A/C Laid At Last AGM

:

30/06/2010
 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

JUN 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

14,024,192

20.73

11,615,987

11,505,891

11,192,956

10,008,169

Profit/(Loss) Before Tax

1,150,808

351.22

255,043

279,629

145,668

373,416

Profit After Tax attributable to Shareholders

1,056,000

356.23

231,460

248,927

66,518

310,956

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

8,411,437

13.17

7,432,687

7,971,558

6,866,887

5,725,092

Current Assets

5,111,802

-8.44

5,582,962

6,047,088

5,146,074

4,179,809

Non Current Assets

3,299,635

78.39

1,849,725

1,924,470

1,720,813

1,545,283

 

 

 

 

 

 

 

Total Liabilities

3,953,600

-1.03

3,994,781

4,751,993

4,058,148

3,246,517

Current Liabilities

3,907,397

0.03

3,906,254

4,614,326

3,896,361

3,001,243

Non Current Liabilities

46,203

-47.81

88,527

137,667

161,787

245,274

 

 

 

 

 

 

 

Shareholders' Funds

4,457,837

29.67

3,437,906

3,219,565

2,808,739

2,478,575

Share Capital

1,900,576

5.56

1,800,500

1,800,500

1,248,000

600,000

Total Reserves

2,450,441

49.65

1,637,406

1,419,065

1,560,739

1,878,575

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

JUN 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

20.73

0.96

2.80

11.84

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

7.53

1.99

2.16

0.59

3.11

Return on Equity (%)

23.69

6.73

7.73

2.37

12.55

Return on Assets (%)

12.55

3.11

3.12

0.97

5.43

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.89

1.16

1.48

1.44

1.31

Current Debt/Equity (Times)

0.88

1.14

1.43

1.39

1.21

Long Term Debt To Equity (Times)

0.01

0.03

0.04

0.06

0.10

Total Asset To Total Equity (Times)

1.89

2.16

2.48

2.44

2.31

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.67

1.56

1.44

1.63

1.75

Fixed Assets Turnover (Times)

4.25

6.28

5.98

6.50

6.48

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.31

1.43

1.31

1.32

1.39

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

*

-100.00

10,558,898

10,793,629

9,081,213

9,250,696

Profit/(Loss) Before Tax

*

-100.00

169,069

83,043

(80,663)

137,945

Profit After Tax attributable to Shareholders

*

-100.00

165,732

64,121

(124,293)

81,788

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

6,701,193

5.34

6,361,776

7,184,194

6,296,481

5,119,510

Current Assets

4,579,375

-9.20

5,043,185

5,720,821

4,740,165

3,735,453

Non Current Assets

2,121,818

60.92

1,318,591

1,463,373

1,556,316

1,384,057

 

 

 

 

 

 

 

Total Liabilities

3,655,645

-1.07

3,695,236

4,683,386

3,920,294

2,911,030

Current Liabilities

3,614,170

-0.03

3,615,116

4,547,802

3,760,672

2,674,521

Non Current Liabilities

41,475

-48.23

80,120

135,584

159,622

236,509

 

 

 

 

 

 

 

Shareholders' Funds

3,045,548

14.21

2,666,540

2,500,808

2,376,187

2,208,480

Share Capital

1,900,576

5.56

1,800,500

1,800,500

1,248,000

600,000

Total Reserves

1,144,972

32.21

866,040

700,308

1,128,187

1,608,480

 

 

 

 

 

 

 

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

 

 

FINANCIAL RATIOS

 

 

Company

 

JUN 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-100.00

-2.17

18.86

-1.83

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.00

1.57

0.59

-1.37

0.88

Return on Equity (%)

0.00

6.22

2.56

-5.23

3.70

Return on Assets (%)

0.00

2.61

0.89

-1.97

1.60

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.20

1.39

1.87

1.65

1.32

Current Debt/Equity (Times)

1.19

1.36

1.82

1.58

1.21

Long Term Debt To Equity (Times)

0.01

0.03

0.05

0.07

0.11

Total Asset To Total Equity (Times)

2.20

2.39

2.87

2.65

2.32

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.00

1.66

1.50

1.44

1.81

Fixed Assets Turnover (Times)

0.00

8.01

7.38

5.84

6.68

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.27

1.40

1.26

1.26

1.40

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 8.8% (4 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 group yielded a rate of net profit on sales of 7.53 per cent in FY10 (FY09: 1.99 per cent). The group is now able to book in SINGAPORE, DOLLARS 0.08 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.02 a year ago.

 

Liquidity

Current ratio stood at 1.31 times in FY10 (FY09: 1.43 times). This means that the group has SINGAPORE, DOLLARS 1.31 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 0.89 times in FY10, compared with 1.16 times in FY09. This means that the group requires additional external financing of SINGAPORE, DOLLARS 0.89 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 23.69 per cent for Subject in the current financial period, as compared to 6.73 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 12.55 per cent (FY09: 3.11 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 1.67 times in FY10 (FY09: 1.56 times). This ratio measures the group'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%)

 

 

 

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