MIRA INFORM REPORT

 

 

 

Report Date :

16.12.2011

 

IDENTIFICATION DETAILS

 

Name :

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

 

 

Registered Office :

470 North Bridge Road #04-12/13 North Bridge Commercial Complex Singapore 188735

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

15.02.2008

 

 

Com. Reg. No.:

200803152R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Service Activities

 

 

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 :

Unknown

 

 

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 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

:

Craftsman Automation Singapore Pte. Ltd.

Registration No

:

200803152R

Date of Registration

:

15/02/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

Limited Private Company

Registered Address

:

470 NORTH BRIDGE ROAD #04-12/13 NORTH BRIDGE COMMERCIAL COMPLEX SINGAPORE 188735

Date of Change of Address

:

30/04/2008

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

Other Service Activities Nec

Trading

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

Pkf-Cap  Llp

Bankers / Financiers

:

NA

Turnover

:

$1,179,326.00

Net Worth

:

$2,435.00

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

 

SHAREHOLDER DETAILS

 

NAME

:

CRAFTSMAN AUTOMATION PRIVATE LIMITED

SHAREHOLDER ID

:

T08UF1968F

NATIONALITY

:

INDIA

ADDRESS

:

15, LML COLONY AMMANKULAM ROAD COIMBATORE - 641 037, INDIA

NO. OF ORD SHARES

:

100,000

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHONG SWEE SAN

ADDRESS

:

335 TAMPINES STREET 32 #03-504 SINGAPORE 520335

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0184145I

 

NAME

:

TONG HOW HENG DAVID

ADDRESS

:

21 SAMPAN PLACE #08-09 RIVEREDGE SINGAPORE 436593

POSITION

:

SECRETARY

DATE OF APPT

:

15/02/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1145655C

 

NAME

:

SRINIVASAN RAVI

ADDRESS

:

153 TEA ESTATE COMPOUND RACE COURSE COIMBATORE 641 018 TAMIL NADU, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/05/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1774681

 

 

KEY PERSONNEL PROFILE

 

Name:

SRINIVASAN RAVI

NRIC Number:

Z1774681

Available Address:

153 TEA ESTATE COMPOUND RACE COURSE COIMBATORE 641 018 TAMIL NADU, INDIA

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

DIRECTOR

01/05/2008

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

Litigation Search – Writ of Summons

 

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

Negative List (if any)

 

Traces

Last Updated Date

No Trace

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

Company

Shareholdings (%)

 

 

NA

 

 

                                                                                                                       

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

 :

30/09/2009

Date of Last AR

 :

28/10/2009

Date of A/C Laid at Last AGM

 :

31/03/2009

 

 

FINANCIAL HIGHLIGHTS

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

31/03/2009

$

Turnover

1,179,326

Profit/(Loss) Before Tax

(99,813)

Profit/(Loss) After Tax

(99,813)

  Current Assets

768,827

  Fixed Assets and Others

30,068

Total Assets

798,895

  Current Liabilities

701,060

  Long-Term Liabilities

95,400

Total Liabilities

796,460

  Paid Up Capital

119,438

  Reserves

(17,190)

  Retained Earnings

(99,813)

Shareholders Funds

2,435

Minority Interest

0

 

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

31/03/2009

PROFITABILITY

 

  Rate of Net Profit (%)

-8.46

  Return on Equity (%)

-4,099.10

  Return on Assets (%)

-12.49

  Return on Capital Employed

-1.02

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

327.09

  Current Liabilities/Equity (times)

287.91

  Long Term Liabilities/Equity (times)

39.18

  Debt Service Cover Ratio

NA

  Short-term Borrowings-to-cash Ratio

NA

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

1.48

  Fixed Assets Turnover (times)

39.22

  Interest Coverage Ratio

NA

  Average Payment Period (days)

NA

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

1.10

  Quick Ratio (times)

1.09

  Average Collection Period (days)

225

FINANCIAL COMMENTARY

 

Profitability

 

We are unable to comment on Subject's profitability

 

Liquidity

 

Current ratio stood at 1.10 times in FY09. This means that the company has $1.10 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be within the industry norm for the sector in which the company is operating.

 

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 liabilities-to-equity ratio notched 327.09 times in FY09. This means that the company requires additional external financing of $327.09 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be higher than the industry norm for the sector in which the company is operating.

 

Generally, a total liability-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 1.48 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.52.81

UK Pound

1

Rs.82.00

Euro

1

Rs.68.81

 

 

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.