MIRA INFORM REPORT

 

 

Report Date :           

23.06.2011

 

 

 

Tel. No.:

65-65129221

 

IDENTIFICATION DETAILS

 

Name :

BAN LEONG TECHNOLOGIES LIMITED

 

 

Formerly Known As :

BAN LEONG TECHNOLOGIES PTE LTD

 

 

Registered Office :

150 Ubi Avenue 4 #04-00 Singapore 408825

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010 (Group)

31.12.2006 (Company)

 

 

Date of Incorporation :

18.06.1993

 

 

Com. Reg. No.:

199303898C

 

 

Legal Form :

Public company limited by shares

 

 

Line of Business :

Wholesale of computer hardware and peripheral equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

S$1,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Executive Summary

 

Company Name

:

BAN LEONG TECHNOLOGIES LIMITED

Registration No

:

199303898C

Date of Registration

:

18/06/1993

Former Name

:

BAN LEONG TECHNOLOGIES PTE LTD Eff. date : 18/06/1993 Eff. date : 18/06/1993

Date of Change of Name

:

17/05/2005

Type of Company

:

PUBLIC COMPANY LIMITED BY SHARES

Registered Address

:

150 UBI AVENUE 4 #04-00 SINGAPORE 408825

Date of Change of Address

:

06/02/2006

Contact No.

:

6512 9221

Fax No.

:

6741 9295

Website

:

www.banleong.com

Registered Activities

:

1. WHOLESALE OF COMPUTER HARDWARE AND PERIPHERAL EQUIPMENT

2. RETAIL SALE OF COMPUTER HARDWARE AND ACCESSORIES AND COMPUTER SOFTWARE (EXCEPT GAMES)

Issued Ordinary Capital*

:

$11,173,105.96 SINGAPORE, DOLLARS ,NO. OF SHARE : 117,181,818

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$11,173,105.96 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

:

1

No. of Local Associates

:

1

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 112,858,823.00 (FY2010)

Net Worth

:

SGD - SIN 22,719,734.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

No. of Employees (Staff)

:

200 (Approximately)

S1000 / SME 500 / FG50 Ranking

:

1582 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

261 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2009/2010)

1230 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

247 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2008/2009)

253 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

7.55% (5 years)

 

 

Credit ecommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

As Subject is registered as a public company limited by shares, its shareholder details are not available. Please refer to documentary for information.

 

 

OFFICER DETAILS

 

NAME

:

TAN ENG BOCK

ADDRESS

:

157C TAMARIND ROAD #01-02 SERENITY PARK SINGAPORE 806107

POSITION

:

DIRECTOR

DATE OF APPT

:

12/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0255961G

 

NAME

:

CHNG JIT KOON

ADDRESS

:

162 TAMARIND ROAD CAMELIA PARK SINGAPORE 806116

POSITION

:

DIRECTOR

DATE OF APPT

:

12/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0816644G

 

NAME

:

LOH YIH

ADDRESS

:

34 GREENLEAF DRIVE BAN GUAN PARK SINGAPORE 279543

POSITION

:

DIRECTOR

DATE OF APPT

:

12/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1652937J

 

NAME

:

TENG WOO BOON

ADDRESS

:

3 TAMAN SIGLAP OPERA ESTATE SINGAPORE 455666

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

18/06/1993

09/07/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6914787I

 

NAME

:

NEO GIM KIONG

ADDRESS

:

175 TAMARIND ROAD CAMELIA PARK SINGAPORE 806129

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6928060I

 

NAME

:

PAN MI KEAY

ADDRESS

:

98 ALJUNIED CRESCENT #03-421 SINGAPORE 380098

POSITION

:

SECRETARY

DATE OF APPT

:

01/05/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6967959E

 

NAME

:

LEE WEI HSIUNG

ADDRESS

:

633 JURONG WEST STREET 65 #10-310 SINGAPORE 640633

POSITION

:

SECRETARY

DATE OF APPT

:

01/05/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7927166G

 

 

KEY PERSONNEL PROFILE

 

Name:

TENG WOO BOON

NRIC Number:

S6914787I

Available Address:

3 TAMAN SIGLAP OPERA ESTATE  SINGAPORE 455666

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AV LABS INTERNATIONAL PTE. LTD.

DIRECTOR

23/06/2006

-

-

2

BAN LEONG TECHNOLOGIES LIMITED

DIRECTOR

18/06/1993

-

-

3

BAN LEONG TECHNOLOGIES LIMITED

MANAGING DIRECTOR

09/07/1993

-

-

4

DIGITAL HUB PTE. LTD.

DIRECTOR

20/03/2003

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AV LABS INTERNATIONAL PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

29/03/2010

2

BAN LEONG BROTHERS PTE LTD

LIVE COMPANY

SHAREHOLDER

-

07/06/2011

3

BAN LEONG TECHNOLOGIES LIMITED

LIVE COMPANY

SHAREHOLDER

-

30/05/2011

4

DIGITAL HUB PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

08/12/2010

 

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 (%)

DIGITAL HUB PTE. LTD.

100

AV LABS INTERNATIONAL PTE. LTD.

50

 

 

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

:

29/07/2010

Date of Last AR

:

19/08/2010

Date of A/C Laid At Last AGM

:

31/03/2010
 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2010

% Change

MAR 2009

DEC 2007

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

112,858,823

-28.97

158,888,088

120,684,615

90,379,645

78,447,216

Profit/(Loss) Before Tax

4,163,423

NA

(871,991)

5,143,368

4,752,563

4,606,154

Profit After Tax attributable to Shareholders

3,293,494

NA

(744,929)

3,778,609

3,686,829

3,770,552

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

48,816,679

-0.93

49,272,902

54,337,930

34,275,778

27,531,607

Current Assets

43,167,290

-0.54

43,402,832

48,455,088

31,555,734

26,823,820

Non Current Assets

5,649,389

-3.76

5,870,070

5,882,842

2,720,044

707,787

 

 

 

 

 

 

 

Total Liabilities

26,096,945

-12.07

29,679,368

31,669,025

16,695,818

12,647,797

Current Liabilities

25,851,313

-12.23

29,454,477

31,348,051

16,433,699

12,454,621

Non Current Liabilities

245,632

9.22

224,891

320,974

262,119

193,176

 

 

 

 

 

 

 

Shareholders' Funds

22,719,734

15.96

19,593,534

22,668,905

17,579,960

14,883,810

Share Capital

11,173,106

0.00

11,173,106

11,173,106

7,393,106

4,000,000

Total Reserves

11,546,628

37.13

8,420,428

11,495,799

10,186,854

10,883,810

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2010

MAR 2009

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-28.97

NA

33.53

15.21

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.92

NA

3.13

4.08

4.81

Return on Equity (%)

14.50

NA

16.67

20.97

25.33

Return on Assets (%)

6.75

NA

6.95

10.76

13.70

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.15

1.51

1.40

0.95

0.85

Current Debt/Equity (Times)

1.14

1.50

1.38

0.93

0.84

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.01

0.01

Total Asset To Total Equity (Times)

2.15

2.51

2.40

1.95

1.85

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.31

3.22

2.22

2.64

2.85

Fixed Assets Turnover (Times)

19.98

27.07

20.51

33.23

110.83

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.67

1.47

1.55

1.92

2.15

 

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2006

% Change

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

82,088,942

12.93

72,687,211

Profit/(Loss) Before Tax

2,697,203

-28.61

3,778,213

Profit After Tax attributable to Shareholders

2,037,937

-35.59

3,163,943

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

31,107,738

23.73

25,142,358

Current Assets

29,921,517

22.12

24,500,946

Non Current Assets

1,186,221

84.94

641,412

 

 

 

 

Total Liabilities

15,919,844

44.83

10,992,401

Current Liabilities

15,739,285

45.18

10,841,463

Non Current Liabilities

180,559

19.62

150,938

 

 

 

 

Shareholders' Funds

15,187,894

7.34

14,149,957

Share Capital

7,393,106

84.83

4,000,000

Total Reserves

7,794,788

-23.20

10,149,957

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2006

DEC 2005

Growth %

 

 

Year-on-Year Growth

12.93

NA

 

 

 

Profitability

 

 

Profit Margin (%)

2.48

4.35

Return on Equity (%)

13.42

22.36

Return on Assets (%)

6.55

12.58

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

1.05

0.78

Current Debt/Equity (Times)

1.04

0.77

Long Term Debt To Equity (Times)

0.01

0.01

Total Asset To Total Equity (Times)

2.05

1.78

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

2.64

2.89

Fixed Assets Turnover (Times)

69.20

113.32

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.90

2.26

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 7.55% (5 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 2.92 per cent in FY10. The group is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales.

 

Liquidity

Current ratio stood at 1.67 times in FY10 (FY09: 1.47 times). This means that the group has SGD - SIN 1.67 of current assets for every SGD - SIN 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 1.15 times in FY10, as compared with 1.51 times in FY09. This means that the group requires additional external financing of SGD - SIN 1.15 for every SGD - SIN 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 14.50 per cent for Subject in the current financial period. 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 6.75 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 2.31 times in FY10 (FY09: 3.22 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.44.82

UK Pound

1

Rs.72.84

Euro

1

Rs.64.58

 

 

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.