MIRA INFORM REPORT

Report Date :

10.03.2011

IDENTIFICATION DETAILS

Name :	KAHAR TRADING SINGAPORE PTE LTD

Registered Office :	190 Middle Road #09-01 Fortune Centre Singapore 188979

Country :	Singapore

Financials (as on) :	31.12.2009

Date of Incorporation :	21.12.1982

Com. Reg. No.:	198205346g

Legal Form :	Limited Private Company

Line of Business :	Wholesale o General Hardware

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	S$ 248,000

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Singapore

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Executive Summary

Company Name	:	KAHAR TRADING SINGAPORE PTE LTD
Registration No	:	198205346G
Date of Registration	:	21/12/1982
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	190 MIDDLE ROAD #09-01 FORTUNE CENTRE SINGAPORE 188979
Date of Change of Address	:	NA
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. WHOLESALE OF GENERAL HARDWARE (EG LOCKS, HINGES) MACHINERY, SPART PARTS AND TIMBER MERCHANTS AND AGENTS 2. WHOLESALE OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS MACHINERY, SPART PARTS AND TIMBER MERCHANTS AND AGENTS
Issued Ordinary Capital*	:	$500,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 500,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$500,000.00 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	:	ERNST & YOUNG LLP
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 1,087,236.00 (FY2009)
Net Worth	:	SINGAPORE, DOLLARS 2,483,434.00 (FY2009)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	334 POSITION IN SINGAPORE SME 500 (1998/1999)
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Recommendation

Recommended Credit Line

S$248,000

SHAREHOLDER DETAILS

NAME	:	K.T.S. (SINGAPORE) PTE. LTD.
SHAREHOLDER ID	:	197401224C
NATIONALITY	:	SINGAPORE
ADDRESS	:	190 MIDDLE ROAD #09-01 FORTUNE CTR SINGAPORE 188979
NO. OF ORD SHARES	:	500,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LOH CHAI HIANG
ADDRESS	:	59 JALAN REMAJA BAMBOO GROVE PARK SINGAPORE 668713
POSITION	:	DIRECTOR
DATE OF APPT	:	21/12/1982
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0691677E

NAME	:	LAU LEE HUONG, MDM
ADDRESS	:	45 MOUNT SINAI RISE #06-02 BEAVERTON COURT SINGAPORE 276958
POSITION	:	DIRECTOR MANAGER
DATE OF APPT	:	25/07/1983 25/07/1983
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2504244A

NAME	:	CHENG HUA DOK
ADDRESS	:	33 DAIRY FARM ROAD #03-01 DAIRY FARM ESTATE PHASE 3 SINGAPORE 679051
POSITION	:	DIRECTOR
DATE OF APPT	:	02/06/2008
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2613804C

NAME	:	HENG KHIAM NENG
ADDRESS	:	29 CHENG SOON GARDEN CHENG SOON GARDEN SINGAPORE 599805
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2004
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7235890B

KEY PERSONNEL PROFILE

Name:	LOH CHAI HIANG
NRIC Number:	S0691677E
Available Address:	59 JALAN REMAJA BAMBOO GROVE PARK SINGAPORE 668713

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BESTHOPE INVESTMENTS PTE LTD	DIRECTOR	11/07/1983	-	-
2	GLOBAL TECHNOLOGY INDUSTRIES PTE LTD	DIRECTOR	21/02/1991	-	-
3	KAHAR TRADING SINGAPORE PTE LTD	DIRECTOR	21/12/1982	-	-
4	MNH IMPORTER & EXPORTERS PTE LTD	DIRECTOR	15/04/1991	25000	50.00
5	MOKUZAI AGENCY PTE LTD	DIRECTOR	23/05/2002	1	50.00

Previous Business

No.		Name		Status		Position		Appt Date		Last Known Inactive Date
1		CHALLENGE SHIPPING (PTE) LTD.		IN LIQUIDATION - CREDITORS' VOLUNTARY WINDING UP		DIRECTOR/SHR		07/05/1979		31/07/2002
2		DERMAWAN INVESTMENTS PTE LTD		STRUCK OFF		DIRECTOR		24/11/1982		-
3		GOLDEN ISLAND SHIPPING PTE LTD		STRUCK OFF		DIRECTOR		06/04/1989		-
4		HENG SECRETARIAL SERVICES		LIVE		OWNER		01/07/1975		09/09/1987
5		JAPKOR (S) PTE LTD		GAZETTED TO BE STRUCK OFF		DIRECTOR		31/12/1981		-
6		KAHAR TRADING SINGAPORE PTE LTD		LIVE COMPANY		SHAREHOLDER		-		28/01/2011
7		KTS REALTY PTE LTD		LIVE COMPANY		DIRECTOR		19/07/1983		23/02/2011
8		LAU & SONS INVESTMENTS PTE LTD		LIVE COMPANY		DIRECTOR/SHR		03/05/1983		21/09/2010
9		MAKONG INVESTMENTS PRIVATE LIMITED		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		SECRETARY		04/10/1982		23/02/2007
10	METROPOLITAN TRAVEL SERVICE PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		11/09/1982		-
11	MIDDLE LAND SHIPPING PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		20/12/1977		-
12	REZCO INVESTMENTS PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		SHAREHOLDER		-		-
13	SEAWIDE SHIPPING PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		23/05/1979		-
14	TALWIDE INVESTMENTS PTE LTD		DISSOLVED - MEMBERS' VOLUNTARY WINDING UP		DIRECTOR		15/08/1983		-
15	WELWISH PTE LTD		STRUCK OFF		DIRECTOR		28/05/1979		-

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

Date of Last AGM	:	12/07/2010
Date of Last AR	:	02/08/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2009	% Change	DEC 2008	DEC 2007	DEC 2006	DEC 2005
Currency	SINGAPORE, DOLLARS		SGD - SIN	SGD - SIN	SINGAPORE, DOLLARS	SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	1,087,236	82.64	595,273	1,240,948	886,970	1,133,749
Profit/(Loss) Before Tax	591,297	31.88	448,361	350,130	246,217	117,955
Profit After Tax attributable to Shareholders	537,647	28.42	418,655	316,432	222,517	105,560

Balance Sheet Key Figures
Total Assets	3,532,229	11.61	3,164,870	2,490,393	2,285,227	4,654,394
Current Assets	3,532,229	11.61	3,164,870	2,490,393	2,285,227	4,654,394
Non Current Assets	0	NA	0	0	0	0

Total Liabilities	1,048,795	-13.97	1,219,083	963,261	1,074,527	1,266,211
Current Liabilities	1,048,795	-13.97	1,219,083	963,261	1,074,527	1,266,211
Non Current Liabilities	0	NA	0	0	0	0

Shareholders' Funds	2,483,434	27.63	1,945,787	1,527,132	1,210,700	3,388,183
Share Capital	500,000	0.00	500,000	500,000	500,000	500,000
Total Reserves	1,983,434	37.19	1,445,787	1,027,132	710,700	2,888,183

FINANCIAL RATIOS

	Company
	DEC 2009	DEC 2008	DEC 2007	DEC 2006	DEC 2005
Growth %
Year-on-Year Growth	82.64	-52.03	39.91	-21.77	NA

Profitability
Profit Margin (%)	49.45	70.33	25.50	25.09	9.31
Return on Equity (%)	21.65	21.52	20.72	18.38	3.12
Return on Assets (%)	15.22	13.23	12.71	9.74	2.27

Leverage
Total Debt/Equity (Times)	0.42	0.63	0.63	0.89	0.37
Current Debt/Equity (Times)	0.42	0.63	0.63	0.89	0.37
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	1.42	1.63	1.63	1.89	1.37

Asset Management
Total Assets Turnover (Times)	0.31	0.19	0.50	0.39	0.24
Fixed Assets Turnover (Times)	0.00	0.00	0.00	0.00	0.00

Liquidity
Current Ratio (Times)	3.37	2.60	2.59	2.13	3.68

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 49.45 per cent in FY09 (FY08: 70.33 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.49 of profit for every SINGAPORE, DOLLARS of sales in FY09, as compared with SINGAPORE, DOLLARS 0.70 a year ago.

Liquidity

Current ratio stood at 3.37 times in FY09 (FY08: 2.60 times). This means that the company has SINGAPORE, DOLLARS 3.37 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 0.42 times in FY09, as compared with 0.63 times in FY08. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.42 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 21.65 per cent for Subject in the current financial period, as compared to 21.52 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 15.22 per cent (FY08: 13.23 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 0.31 times in FY09 (FY08: 0.19 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.45.02
UK Pound	1	Rs.72.70
Euro	1	Rs.62.54

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%)

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.