MIRA INFORM REPORT

 

 

Report Date :           

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

 

 

Registered Office :

151 Chin Swee Road #14-13 Manhattan House Singapore 169876

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

15.02.2008

 

 

Com. Reg. No.:

200803152r

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Personal Service Activities

 

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 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

:

151 CHIN SWEE ROAD #14-13 MANHATTAN HOUSE SINGAPORE 169876

Date of Change of Address

:

01/03/2010

Contact No.

:

63364212

Fax No.

:

NA

Website

:

NA

Registered Activities

:

OTHER PERSONAL 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

:

B H TAN & ASSOCIATES

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 5,647,944.99 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS (319,580.38) (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No records found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

No Recommendation

 

 

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

% OF SHAREHOLDING

:

100%

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

:

9 RHU CROSS #12-07 COSTA RHU SINGAPORE 437436

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

-

-

 

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

:

15/08/2011

Date of Last AR

:

18/08/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

MAR 2009

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

5,647,945

482.02

970,405

1,179,326

Profit/(Loss) Before Tax

(113,554)

NA

(205,784)

(99,813)

Profit After Tax attributable to Shareholders

(113,554)

NA

(205,784)

(99,813)

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

3,339,976

873.31

343,156

798,895

Current Assets

3,339,515

892.72

336,402

768,827

Non Current Assets

462

-93.16

6,755

30,068

 

 

 

 

 

Total Liabilities

3,659,557

569.58

546,542

796,460

Current Liabilities

3,244,785

1,140.22

261,631

701,060

Non Current Liabilities

414,772

45.58

284,911

95,400

 

 

 

 

 

Shareholders' Funds

(319,580)

NA

(203,385)

2,435

Share Capital

119,209

1.30

117,681

119,438

Total Reserves

(438,789)

NA

(321,066)

(117,003)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

Year-on-Year Growth

482.02

-17.72

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-2.01

-21.21

-8.46

Return on Equity (%)

35.53

101.18

-4,099.10

Return on Assets (%)

-3.40

-59.97

-12.49

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

-11.45

-2.69

327.09

Current Debt/Equity (Times)

0.00

0.00

287.91

Long Term Debt To Equity (Times)

0.00

0.00

39.18

Total Asset To Total Equity (Times)

-10.45

-1.69

328.09

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

1.69

2.83

1.48

Fixed Assets Turnover (Times)

12,231.34

143.66

39.22

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.03

1.29

1.10

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.03 times in FY11 (FY10: 1.29 times). This means that the company has SINGAPORE, DOLLARS 1.03 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

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

Return on equity was 35.53 per cent for Subject in the current financial period, as compared to 101.18 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.

 

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

 

Total assets turnover ratio logged at 1.69 times in FY11 (FY10: 2.83 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.52.72

UK Pound

1

Rs.82.71

Euro

1

Rs.68.90

 

 

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.