MIRA INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DIRECT GLOBAL LOGISTICS PTE. LTD. |
|
|
|
|
Registered Office : |
6001 Beach Road #19-11 Golden Mile Tower Singapore 199589 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
06.01.2006 |
|
|
|
|
Com. Reg. No.: |
200600311g |
|
|
|
|
Legal Form : |
Limited Private Company |
|
|
|
|
Line of Business : |
Freight Forwarding, Packing And Crating Services |
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 : |
Moderate |
|
|
|
|
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 – 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 |
Executive
Summary
|
: |
DIRECT GLOBAL LOGISTICS
PTE. LTD. |
|
|
Registration No |
: |
200600311G |
|
Date of Registration |
: |
06/01/2006 |
|
Former Name |
: |
NA |
|
Date of Change of Name |
: |
NA |
|
Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
6001 BEACH ROAD #19-11 GOLDEN
MILE TOWER SINGAPORE 199589 |
|
Date of Change of Address |
: |
08/10/2010 |
|
Contact No. |
: |
NA |
|
Fax No. |
: |
NA |
|
Website |
: |
NA |
|
Registered Activities |
: |
1. FREIGHT FORWARDING,
PACKING AND CRATING SERVICES 2. OTHER TRANSPORTATION
SUPPORT ACTIVITIES NEC |
|
Issued Ordinary Capital* |
: |
$150,000.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 150,000 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$150,000.00 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 |
: |
NA |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SINGAPORE, DOLLARS
1,872,155.00 (FY2010) |
|
Net Worth |
: |
SINGAPORE, DOLLARS (442,910.00)
(FY2010) |
|
No. of Bank Charges |
: |
NA |
|
No. of Litigation Suits |
: |
1 |
|
S1000 / SME 500 / FG50
Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
30.01% (3
years) |
Credit Recommendation
|
Recommended Credit Line |
: |
No Recommendation |
SHAREHOLDER DETAILS
|
: |
DIRECT LOGISTICS INDIA PVT LTD |
|
|
SHAREHOLDER ID |
: |
T05UF2646G |
|
NATIONALITY |
: |
INDIA |
|
ADDRESS |
: |
403-4 'B', MANGALYA , OFF MAROL MAROSHI ROAD, ANDERI EAST , MUMBAI -
400059 |
|
NO. OF ORD SHARES |
: |
150,000 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
SUNIL
DEVRANI |
|
|
ADDRESS |
: |
2204,
B WING, OBEROI GARDEN, THAKUR VILLAGE, SAMTA NAGAR, MUMBAI 101 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
06/01/2006 |
|
NATIONALITY |
: |
INDIAN |
|
I/C PASSPORT |
: |
F0933745 |
|
|
||
|
NAME |
: |
SANJAY
SIKKA |
|
ADDRESS |
: |
GH-8/345
PASCHIM VIHAR, NEW DELHI-110063 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
14/07/2009 |
|
NATIONALITY |
: |
INDIAN |
|
I/C PASSPORT |
: |
F4034387 |
|
|
||
|
NAME |
: |
D.THANARAJ |
|
ADDRESS |
: |
62
WOODLANDS DRIVE 16 #11-28 LA CASA SINGAPORE 737895 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
06/01/2006 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S0765115E |
|
|
||
|
NAME |
: |
GERARD
S/O D. THANARAJ |
|
ADDRESS |
: |
62
WOODLANDS DRIVE 16 #11-28 LA CASA SINGAPORE 737895 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
06/01/2006 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7339946G |
KEY PERSONNEL PROFILE
|
SUNIL DEVRANI |
|
|
NRIC Number: |
F0933745 |
|
Available Address: |
2204, B WING, OBEROI GARDEN,
THAKUR VILLAGE, SAMTA NAGAR, MUMBAI 101 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
DIRECT GLOBAL LOGISTICS PTE.
LTD. |
DIRECTOR |
06/01/2006 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
|
|
|
|
|
||
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
|
|
|
|
|
Litigation Search – Writ of Summons
|
Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
|
|
|
|
|
|
SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
|
|
|
|
|
|
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
The
following litigation suits were traced against Subject. Case status is as per
available database. For the latest status of the suit, please obtain the full
details of the suit through Litigation Detail Search (DLIT) offered.
To date, there have been 1 litigation
suits filed against Subject.
The details are as follows:
|
Court |
: |
Magistrate
Court |
|
|
|
Case
No. |
: |
25941 |
|
|
Date
of Filing |
: |
07/10/2008 |
|
|
Amount
|
: |
USD
18,749.36 SGD
3,381.06 |
|
|
Cause |
: |
Contract
- Provisions of Services Excluding Renovation |
|
|
Case
Status |
: |
PENDING |
|
|
Plaintiff |
: |
DRAFT-CARGOWAYS
PTE LTD |
|
|
Last
Update Date |
: |
16/10/2008 |
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
04/08/2010 |
|
Date of A/C Laid At Last AGM |
: |
31/03/2010 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
|||||
|
|
MAR 2010 |
% Change |
MAR 2009 |
MAR 2008 |
MAR 2007 |
|
Currency |
SINGAPORE,
DOLLARS |
|
SINGAPORE, DOLLARS |
SINGAPORE,
DOLLARS |
SINGAPORE,
DOLLARS |
|
Profit and Loss Key Figures |
|
|
|
|
|
|
1,872,155 |
-27.19 |
2,571,184 |
2,046,854 |
851,981 |
|
|
Profit/(Loss) Before Tax |
495 |
NA |
(144,310) |
(256,222) |
(192,873) |
|
Profit After Tax attributable to
Shareholders |
495 |
NA |
(144,310) |
(256,222) |
(192,873) |
|
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
|
Total Assets |
420,333 |
19.39 |
352,075 |
384,733 |
141,316 |
|
Current Assets |
397,539 |
24.30 |
319,827 |
339,082 |
114,504 |
|
Non Current Assets |
22,794 |
-29.32 |
32,248 |
45,651 |
26,812 |
|
|
|
|
|
|
|
|
Total Liabilities |
863,243 |
8.52 |
795,480 |
683,828 |
184,188 |
|
Current Liabilities |
863,243 |
8.52 |
795,480 |
683,828 |
184,188 |
|
Non Current Liabilities |
0 |
NA |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
Shareholders' Funds |
(442,910) |
NA |
(443,405) |
(299,095) |
42,873 |
|
Share Capital |
150,000 |
0.00 |
150,000 |
150,000 |
150,000 |
|
Total Reserves |
(592,910) |
NA |
(593,405) |
(449,095) |
(192,873) |
|
|
|
|
|
|
|
FINANCIAL RATIOS
|
|
||||
|
|
MAR
2010 |
MAR
2009 |
MAR
2008 |
MAR
2007 |
|
Growth % |
|
|
|
|
|
-27.19 |
25.62 |
140.25 |
NA |
|
|
|
|
|
|
|
|
Profitability |
|
|
|
|
|
Profit Margin (%) |
0.03 |
-5.61 |
-12.52 |
-22.64 |
|
Return on Equity (%) |
-0.11 |
32.55 |
85.67 |
-449.87 |
|
Return on Assets (%) |
0.12 |
-40.99 |
-66.60 |
-136.48 |
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
Total Debt/Equity (Times) |
-1.95 |
-1.79 |
-2.29 |
4.30 |
|
Current Debt/Equity (Times) |
0.00 |
0.00 |
0.00 |
4.30 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
-0.95 |
-0.79 |
-1.29 |
3.30 |
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
Total Assets Turnover (Times) |
4.45 |
7.30 |
5.32 |
6.03 |
|
Fixed Assets Turnover (Times) |
82.13 |
79.73 |
44.84 |
31.78 |
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
Current Ratio (Times) |
0.46 |
0.40 |
0.50 |
0.62 |
|
|
|
|
|
|
FINANCIAL
COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 30.01% (3 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 0.03 per cent in FY10. The company is now able to book
in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales.
Liquidity
Current ratio stood at 0.46 times in FY10
(FY09: 0.40 times). This means that the company has SINGAPORE, DOLLARS 0.46 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 as Subjected posted net deficit for the
financial year end under review.
Efficiency Ratio
We are unable to comment on Subject's return on equity as Subject posted
losses
for the financial year end under review.
Return on assets stood at 0.12 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 4.45 times in FY10 (FY09: 7.30
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.45.10 |
|
UK Pound |
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.