MIRA INFORM REPORT

 

 

Report Date :

21.12.2011

 

IDENTIFICATION DETAILS

 

Name :

OPTIMA CONTROL SYSTEMS (S.E.A.) PTE LTD

 

 

Registered Office :

30 Marsiling Ind Estate Road 5 #05-05e Widefield Industrial Building Singapore 739211

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

17.08.2000

 

 

Com. Reg. No.:

200007192D

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

Payment Behaviour :

--

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 – 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

:

OPTIMA CONTROL SYSTEMS (S.E.A.) PTE LTD

Registration No

:

200007192D

Date of Registration

:

17/08/2000

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

30 MARSILING IND ESTATE ROAD 5 #05-05E WIDEFIELD INDUSTRIAL BUILDING SINGAPORE 739211

Date of Change of Address

:

15/01/2008

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

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

:

C.C. YANG & CO.

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 933,900.00 (FY2009)

Net Worth

:

SINGAPORE, DOLLARS (69,966.00) (FY2009)

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)

:

30.91% (7 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

LOH YIH

SHAREHOLDER ID

:

S2563971E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

11 DAIRY FARM ROAD #04-06 SINGAPORE 679040

NO. OF ORD SHARES

:

75,000

% OF SHAREHOLDING

:

75%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOH JIN

SHAREHOLDER ID

:

S2550111Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

415 COMMONWEALTH AVENUE WEST #02-3013 SINGAPORE 120415

NO. OF ORD SHARES

:

25,000

% OF SHAREHOLDING

:

25%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

FOO SUAN KEE

ADDRESS

:

136 BISHAN STREET 12 #05-442 BISHAN GREEN SINGAPORE 570136

POSITION

:

SECRETARY

DATE OF APPT

:

01/06/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0018699F

 

NAME

:

LOH JIN

ADDRESS

:

415 COMMONWEALTH AVENUE WEST #02-3013 SINGAPORE 120415

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2550111Z

 

NAME

:

LOH YIH

ADDRESS

:

11 DAIRY FARM ROAD #04-06 SINGAPORE 679040

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

17/08/2000

17/08/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2563971E

 

KEY PERSONNEL PROFILE

 

Name:

LOH YIH

NRIC Number:

S2563971E

Available Address:

11 DAIRY FARM ROAD #04-06  SINGAPORE 679040

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

OPTIMA CONTROL SYSTEMS (S.E.A.) PTE LTD

DIRECTOR

17/08/2000

75000

75.00

2

OPTIMA CONTROL SYSTEMS (S.E.A.) PTE LTD

MANAGING DIRECTOR

17/08/2000

75000

75.00

 

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

:

23/02/2011

Date of Last AR

:

03/03/2011

Date of A/C Laid At Last AGM

:

31/12/2009

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

Turnover

933,900

71.61

544,212

576,987

Profit/(Loss) Before Tax

45,953

8.78

42,243

(159,438)

Profit After Tax attributable to Shareholders

45,953

8.78

42,243

(159,438)

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

207,620

1,033.42

18,318

67,390

Current Assets

193,620

994.52

17,690

66,042

Non Current Assets

14,000

2,129.30

628

1,348

 

 

 

 

 

Total Liabilities

277,586

106.79

134,237

225,552

Current Liabilities

269,212

100.55

134,237

225,552

Non Current Liabilities

8,374

NA

0

0

 

 

 

 

 

Shareholders' Funds

(69,966)

NA

(115,919)

(158,162)

Share Capital

100,000

0.00

100,000

100,000

Total Reserves

(169,966)

NA

(215,919)

(258,162)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

Year-on-Year Growth

71.61

-5.68

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

4.92

7.76

-27.63

Return on Equity (%)

-65.68

-36.44

100.81

Return on Assets (%)

22.13

230.61

-236.59

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

-3.97

-1.16

-1.43

Current Debt/Equity (Times)

0.00

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-2.97

-0.16

-0.43

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

4.50

29.71

8.56

Fixed Assets Turnover (Times)

66.71

866.58

428.03

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

0.72

0.13

0.29

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 30.91% (7 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 4.92 per cent in FY09 (FY08: 7.76 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.05 of profit for every SINGAPORE, DOLLARS of sales in FY09, as compared with SINGAPORE, DOLLARS 0.08 a year ago.

 

Liquidity

Current ratio stood at 0.72 times in FY09 (FY08: 0.13 times). This means that the company has SINGAPORE, DOLLARS 0.72 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

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

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

 

Return on assets stood at 22.13 per cent (FY08: 230.61 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 4.50 times in FY09 (FY08: 29.71 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.53.03

UK Pound

1

Rs.82.34

Euro

1

Rs.68.99

 

 

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.