MIRA INFORM REPORT

Report Date :

05.03.2011

IDENTIFICATION DETAILS

Name :	PLEXUS COMPONENTS PTE LTD
Registered Office :	10 Ubi Crescent #03-94/95 Ubi Techpark Singapore 408564
Country :	Singapore
Financials (as on) :	31.12.2005
Date of Incorporation :	31.10.1997
Com. Reg. No.:	199707469r
Legal Form :	Limited Private Company
Line of Business :	General Wholesale Trade

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$94,000
Status :	Moderate
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 – 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	:	PLEXUS COMPONENTS PTE LTD
Registration No	:	199707469R
Date of Registration	:	31/10/1997
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	10 UBI CRESCENT #03-94/95 UBI TECHPARK SINGAPORE 408564
Date of Change of Address	:	19/07/2004
Contact No.	:	63112900
Fax No.	:	63112933
Website	:	www.plexusgp.com
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)
Issued Ordinary Capital*	:	$9,450,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 9,276,797
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$9,450,000.00 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	:	1
No. of Local Associates	:	NA
Auditor	:	RSM CHIO LIM LLP
Bankers / Financiers	:	DBS BANK LTD. UNITED OVERSEAS BANK LIMITED STANDARD CHARTERED BANK
Turnover	:	SGD - SIN 40,774,316.00 (FY2005)
Net Worth	:	SGD - SIN 1,880,212.00 (FY2005)
No. of Bank Charges	:	6
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 500
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Recommendation

Recommended Credit Line

:

S$94,000

SHAREHOLDER DETAILS

NAME	:	WESTECH ELECTRONICS LIMITED
SHAREHOLDER ID	:	198600445D
NATIONALITY	:	SINGAPORE
ADDRESS	:	10 UBI CRESCENT #03-95 UBI TECHPARK SINGAPORE 408564
NO. OF ORD SHARES	:	9,276,797
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	SIM CHENG LIN
ADDRESS	:	10C BRADDELL HILL #05-09 BRADDELL VIEW SINGAPORE 579722
POSITION	:	SECRETARY
DATE OF APPT	:	23/02/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2005404B
NAME	:	HENG LIAN SENG
ADDRESS	:	503 CHOA CHU KANG STREET 51 #13-161 SINGAPORE 680503
POSITION	:	DIRECTOR
DATE OF APPT	:	21/04/2008
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2557612H
NAME	:	NG BOO GAN
ADDRESS	:	24 SIN MING WALK #01-01 BISHAN PARK CONDOMINIUM SINGAPORE 575572
POSITION	:	DIRECTOR
DATE OF APPT	:	02/03/1998
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S6804415D
NAME	:	SIM MONG KEANG
ADDRESS	:	220 DUCHESS AVENUE CASABELLA SINGAPORE 266337
POSITION	:	DIRECTOR
DATE OF APPT	:	31/10/1997
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S6928302J

KEY PERSONNEL PROFILE

Name:	SIM MONG KEANG
NRIC Number:	S6928302J
Available Address:	220 DUCHESS AVENUE CASABELLA SINGAPORE 266337

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	MAXIMUS FORTUNE PTE. LTD.	DIRECTOR	11/11/2009	1	50.00
2	PLEXUS COMPONENTS PTE LTD	DIRECTOR	31/10/1997	-	-
3	PLEXUS MICROELECTRONICS PTE. LTD.	DIRECTOR	29/06/2002	-	-
4	WESTECH ELECTRONICS LIMITED	DIRECTOR	02/06/2010	-	-
5	WESTECH INVESTMENT PTE LTD	DIRECTOR	02/06/2010	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ACX SOLUTIONS PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	16/09/2004	16/09/2010
2	CE DISTRIBUTION CENTRE (ASIA) PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	13/07/2005	03/02/2010
3	CHILISIN CORPORATION (ASIA) PTE. LTD.	STRUCK OFF	DIRECTOR	06/09/2005	-
4	CORE LINK RESOURCES PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	12/07/2006	27/07/2010
5	J ONE GLOBAL SOLUTION (S) PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	03/04/2004	15/07/2010
6	NUSTAR PRIVATE LIMITED	LIVE COMPANY	DIRECTOR/SHR	13/07/2005	12/10/2009
7	PLEXUS COMPONENTS	TERMINATION	OWNER	14/10/1997	-
8	PLEXUS COMPONENTS PTE LTD	LIVE COMPANY	SHAREHOLDER	-	24/09/2010
9	PLEXUS ELECTRONICS PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	08/08/2007	01/04/2009
10	PLEXUS MICROELECTRONICS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	24/09/2010
11	SALIENT CONSULTING PTE LTD	STRUCK OFF	DIRECTOR	16/12/1999	-

KEY PERSONNEL PROFILE

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
12	SEED SYSTEM PTE. LTD.	LIVE COMPANY	DIRECTOR/SHR	14/08/2002	23/09/2010
13	TATLY PLEXUS TECHNOLOGY PTE LTD	LIVE COMPANY	DIRECTOR/SHR	17/11/2001	31/12/2009
14	THAT AQUARIUM	LIVE	OWNER	28/05/2002	01/01/2006

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 (%)
PLEXUS MICROELECTRONICS PTE. LTD.	100

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 6 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C200811123
	Date of Registration	:	17/12/2008
	Chargee	:	DBS BANK LTD.
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
2)	Charge No.	:	C200805199
	Date of Registration	:	09/06/2008
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
3)	Charge No.	:	C200805110
	Date of Registration	:	05/06/2008
	Chargee	:	DBS BANK LTD.
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
4)	Charge No.	:	C200800980
	Date of Registration	:	22/01/2008
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624
5)	Charge No.	:	C200402652
	Date of Registration	:	03/06/2004
	Chargee	:	STANDARD CHARTERED BANK
	Address	:	6 BATTERY ROAD SINGAPORE 049909
6)	Charge No.	:	C200305916
	Date of Registration	:	09/12/2003
	Chargee	:	UNITED OVERSEAS BANK LIMITED
	Address	:	80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

LITIGATION

Clear

COMPLIANCE RECORDS

Date of Last AGM	:	30/06/2010
Date of Last AR	:	29/07/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Group
	DEC 2005	% Change	DEC 2004
Currency	SGD - SIN		SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	40,774,316	36.84	29,796,116
Profit/(Loss) Before Tax	654,243	1,083.51	55,280
Profit After Tax attributable to Shareholders	418,901	NA	(22,120)
Balance Sheet Key Figures
Total Assets	19,205,698	29.33	14,850,044
Current Assets	17,845,828	35.12	13,207,516
Non Current Assets	1,359,870	-17.21	1,642,528
Total Liabilities	17,325,486	29.66	13,362,747
Current Liabilities	16,638,058	34.33	12,386,119
Non Current Liabilities	687,428	-29.61	976,628
Shareholders' Funds	1,880,212	NA	0
Share Capital	200,000	0.00	200,000
Total Reserves	1,680,212	30.52	1,287,297

FINANCIAL RATIOS

	Group
	DEC 2005	DEC 2004
Growth %
Year-on-Year Growth	36.84	NA
Profitability
Profit Margin (%)	1.03	NA
Return on Equity (%)	22.28	NA
Return on Assets (%)	2.18	NA
Leverage
Total Debt/Equity (Times)	9.21	NA
Current Debt/Equity (Times)	8.85	NA
Long Term Debt To Equity (Times)	0.37	NA
Total Asset To Total Equity (Times)	10.21	NA
Asset Management
Total Assets Turnover (Times)	2.12	2.01
Fixed Assets Turnover (Times)	29.98	18.14
Liquidity
Current Ratio (Times)	1.07	1.07

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2005	DEC 2004
Currency
Profit and Loss Key Figures
Turnover	32,884,098	0
Profit/(Loss) Before Tax	860,562	0
Profit After Tax attributable to Shareholders	721,628	0
Balance Sheet Key Figures
Total Assets	18,971,486	14,400,151
Current Assets	14,243,010	12,698,880
Non Current Assets	4,728,476	1,701,271
Total Liabilities	14,427,817	12,423,380
Current Liabilities	13,740,509	11,464,411
Non Current Liabilities	687,308	958,969
Shareholders' Funds	0	0
Share Capital	200,000	200,000
Total Reserves	4,343,669	1,776,771

FINANCIAL RATIOS

	Company
	DEC 2005	DEC 2004
Growth %
Year-on-Year Growth	NA	NA
Profitability
Profit Margin (%)	2.19	NA
Return on Equity (%)	NA	NA
Return on Assets (%)	3.80	NA
Leverage
Total Debt/Equity (Times)	NA	NA
Current Debt/Equity (Times)	NA	NA
Long Term Debt To Equity (Times)	NA	NA
Total Asset To Total Equity (Times)	NA	NA
Asset Management
Total Assets Turnover (Times)	1.73	NA
Fixed Assets Turnover (Times)	6.95	NA
Liquidity
Current Ratio (Times)	1.04	1.11

FINANCIAL COMMENTARY

Profitability

The group yielded a rate of net profit on sales of 1.03 per cent in FY05. The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales.

Liquidity

Current ratio stood at 1.07 times in FY05. This means that the group has SGD - SIN 1.07 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched at 9.21 times in FY05. This means that the group requires additional external financing of SGD - SIN 9.21 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 22.28 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 2.18 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 2.12 times in FY05. 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.44.99
UK Pound	1	Rs.72.24
Euro	1	Rs.62.80

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

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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