MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Name :

INTEGRO TECHNOLOGIES PTE LTD

 

 

Registered Office :

39 Robinson Road #07-01 Robinson Point Singapore 068911

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

24.06.2000

 

 

Com. Reg. No.:

200005556c

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Software Consultancy

 

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$955,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

:

INTEGRO TECHNOLOGIES PTE LTD

Registration No

:

200005556C

Date of Registration

:

24/06/2000

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

39 ROBINSON ROAD #07-01 ROBINSON POINT SINGAPORE 068911

Date of Change of Address

:

20/12/2010

Contact No.

:

62550390

Fax No.

:

62516255

Website

:

www.integrosys.com

Registered Activities

:

SOFTWARE CONSULTANCY

Issued Ordinary Capital*

:

$5,331,315.16 SINGAPORE, DOLLARS ,NO. OF SHARE : 16,886,029

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$5,331,315.16 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

:

S. RENGANATHAN & CO.

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 9,451,209.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 9,553,933.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

7.93% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$955,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

AURIONPRO SOLUTIONS LIMITED

SHAREHOLDER ID

:

T07UF3970J

NATIONALITY

:

INDIA

ADDRESS

:

404 WINCHESTER, HIGH STREET, HIRANANDANI BUSINESS PARK POWAI, MUMBAI 4000076, INDIA

NO. OF ORD SHARES

:

16,886,029

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

AMIT RAMESHCHANDRA SHETH

ADDRESS

:

G-1, SHRI LAL ASHISH, PLOT NO. GARODIA NAGAR, GHATKOPAR (E) MUMBAI 400077

POSITION

:

DIRECTOR

DATE OF APPT

:

07/12/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

F5945418

 

NAME

:

LIM BAK WEE

ADDRESS

:

81 LORONG GAMBIR SINGAPORE 536646

POSITION

:

DIRECTOR

DATE OF APPT

:

24/06/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1044713E

 

NAME

:

CHEN LAI FONG TRACY

ADDRESS

:

9A LANTANA AVENUE LUCKY PARK SINGAPORE 277908

POSITION

:

SECRETARY

DATE OF APPT

:

09/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1660510G

 

NAME

:

SHEKHAR MULLATTI

ADDRESS

:

1 JALAN KUALA #07-01 MORNINGSIDE, THE SINGAPORE 239639

POSITION

:

DIRECTOR

DATE OF APPT

:

01/06/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

S2751297F

 

NAME

:

PARESH CHANDULAL ZAVERI

ADDRESS

:

3 SIGLAP ROAD #06-23 MANDARIN GARDENS SINGAPORE 448907

POSITION

:

DIRECTOR

DATE OF APPT

:

07/12/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1787499

 

 

KEY PERSONNEL PROFILE

 

Name:

LIM BAK WEE

NRIC Number:

S1044713E

Available Address:

81 LORONG GAMBIR  SINGAPORE 536646

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

IHIVE PTE LTD

SHAREHOLDER

-

200000

0.68

2

INTEGRO TECHNOLOGIES PTE LTD

DIRECTOR

24/06/2000

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CKB (2000) LIMITED

LIVE COMPANY

MANAGER

01/01/1998

29/11/2010

2

COMMERCENET SINGAPORE LIMITED

LIVE COMPANY

DIRECTOR

12/10/1999

04/01/2011

3

EVERGREEN INTERNET PTE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

SHAREHOLDER

-

17/06/2003

4

FAR EASTERN BANK LIMITED

LIVE COMPANY

MANAGER

01/01/1998

18/10/2010

5

INTEGRO TECHNOLOGIES PTE LTD

LIVE COMPANY

SHAREHOLDER

-

13/12/2010

6

LIAHONI CONSULTING PTE LTD

STRUCK OFF

SHAREHOLDER

-

07/05/2009

7

NETRUST PTE LTD

LIVE COMPANY

ALTERNATE DIRECTOR

18/05/1998

24/03/1999

8

NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD

LIVE COMPANY

DIRECTOR

07/03/1988

31/12/2010

9

NOW MEDIA PTE LTD

STRUCK OFF

DIRECTOR/SHR

19/03/2001

10/08/2010

10

SINGAPORE CLEARING HOUSE PRIVATE LIMITED

LIVE COMPANY

ALTERNATE DIRECTOR

28/01/2000

30/09/2000

11

UNICOM DATABANK PTE LTD

LIVE COMPANY

DIRECTOR

28/01/2000

22/12/2010

12

UNITED OVERSEAS BANK LIMITED

LIVE COMPANY

MANAGER

01/01/1998

23/12/2010

13

UOB ASSET MANAGEMENT LTD

LIVE COMPANY

DIRECTOR

02/11/1993

24/12/2010

14

UOB SECURITIES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

25/05/1993

13/07/2007

 

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

:

30/09/2010

Date of Last AR

:

29/10/2010

Date of A/C Laid At Last AGM

:

31/03/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

9,451,209

-19.35

11,718,801

10,083,971

6,309,737

6,964,866

Profit/(Loss) Before Tax

1,611,734

393.18

326,803

406,618

(103,005)

832,211

Profit After Tax attributable to Shareholders

1,511,272

182.24

535,452

321,512

(43,390)

666,211

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

13,980,456

32.06

10,586,461

10,814,787

8,938,393

8,602,169

Current Assets

8,188,130

74.32

4,697,300

5,245,934

4,236,906

4,646,134

Non Current Assets

5,792,326

-1.64

5,889,161

5,568,853

4,701,487

3,956,035

 

 

 

 

 

 

 

Total Liabilities

4,426,523

73.75

2,547,676

3,300,872

1,747,801

1,432,045

Current Liabilities

4,092,523

78.50

2,292,676

2,831,872

1,319,762

920,045

Non Current Liabilities

334,000

30.98

255,000

469,000

428,039

512,000

 

 

 

 

 

 

 

Shareholders' Funds

9,553,933

18.85

8,038,785

7,513,915

7,190,592

7,170,124

Share Capital

5,331,582

0.00

5,331,582

5,331,582

5,331,582

5,085,399

Total Reserves

4,222,351

55.97

2,707,203

2,182,333

1,859,010

2,084,725

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-19.35

16.21

59.82

-9.41

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

15.99

4.57

3.19

NA

9.57

Return on Equity (%)

15.82

6.66

4.28

NA

9.29

Return on Assets (%)

10.81

5.06

2.97

NA

7.74

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.46

0.32

0.44

0.24

0.20

Current Debt/Equity (Times)

0.43

0.29

0.38

0.18

0.13

Long Term Debt To Equity (Times)

0.03

0.03

0.06

0.06

0.07

Total Asset To Total Equity (Times)

1.46

1.32

1.44

1.24

1.20

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.68

1.11

0.93

0.71

0.81

Fixed Assets Turnover (Times)

1.63

1.99

1.81

1.34

1.76

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.00

2.05

1.85

3.21

5.05

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

7,628,869

-9.69

8,447,384

6,595,187

4,632,214

5,657,098

Profit/(Loss) Before Tax

1,516,681

421.77

290,678

300,561

(211,749)

832,790

Profit After Tax attributable to Shareholders

1,437,681

184.87

504,678

246,112

(115,749)

666,790

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

12,844,028

31.53

9,764,868

9,072,070

8,403,179

8,598,684

Current Assets

7,030,953

81.37

3,876,624

3,530,267

3,740,376

4,684,414

Non Current Assets

5,813,075

-1.28

5,888,244

5,541,803

4,662,803

3,914,270

 

 

 

 

 

 

 

Total Liabilities

3,551,367

85.95

1,909,888

1,721,768

1,298,989

1,424,745

Current Liabilities

3,217,367

94.42

1,654,888

1,252,768

882,989

912,745

Non Current Liabilities

334,000

30.98

255,000

469,000

416,000

512,000

 

 

 

 

 

 

 

Shareholders' Funds

9,292,661

18.30

7,854,980

7,350,302

7,104,190

7,173,939

Share Capital

5,331,582

0.00

5,331,582

5,331,582

5,331,582

5,085,399

Total Reserves

3,961,079

56.97

2,523,398

2,018,720

1,772,608

2,088,540

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-9.69

28.08

42.38

-18.12

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

18.85

5.97

3.73

NA

11.79

Return on Equity (%)

15.47

6.42

3.35

NA

9.29

Return on Assets (%)

11.19

5.17

2.71

NA

7.75

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.38

0.24

0.23

0.18

0.20

Current Debt/Equity (Times)

0.35

0.21

0.17

0.12

0.13

Long Term Debt To Equity (Times)

0.04

0.03

0.06

0.06

0.07

Total Asset To Total Equity (Times)

1.38

1.24

1.23

1.18

1.20

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.59

0.87

0.73

0.55

0.66

Fixed Assets Turnover (Times)

1.31

1.43

1.19

0.99

1.45

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.19

2.34

2.82

4.24

5.13

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 7.93% (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 15.99 per cent in FY10 (FY09: 4.57 per cent). The group is now able to book in SINGAPORE, DOLLARS 0.16 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.05 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.00 times in FY10 (FY09: 2.05 times). This means that the group has SINGAPORE, DOLLARS 2.00 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 0.46 times in FY10, as compared with 0.32 times in FY09. This means that the group requires additional external financing of SINGAPORE, DOLLARS 0.46 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 15.82 per cent for Subject in the current financial period, as compared to 6.66 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 10.81 per cent (FY09: 5.06 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 0.68 times in FY10 (FY09: 1.11 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.45.32

UK Pound

1

Rs.70.54

Euro

1

Rs.58.70

 

 

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.