MIRA INFORM REPORT

Report Date :

03.05.2011

IDENTIFICATION DETAILS

Name :	AKBAR & ANAND PTE LTD

Registered Office :	256 Serangoon Road Singapore 218094

Country :	Singapore

Financials (as on) :	31.12.2009

Date of Incorporation :	04.01.1991

Com. Reg. No.:	199100051C

Legal Form :	Limited Exempt Private Company

Line of Business :	General Wholesale Trade

RATING & COMMENTS

MIRA’s Rating :

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 :	Poor
Payment Behaviour :	Unknown
Litigation :	Exists

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	:	AKBAR & ANAND PTE LTD
Registration No	:	199100051C
Date of Registration	:	04/01/1991
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	256 SERANGOON ROAD SINGAPORE 218094
Date of Change of Address	:	NA
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) INVESTMENT COMPANIES 2. WHOLESALE OF TELECOMMUNICATIONS EQUIPMENT DEALERS IN TELECOMMUNICATIONS EQUIP/ELECTRICAL GOODS AND READY MADE GOODS
Issued Ordinary Capital*	:	$270,003.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 270,003
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$270,003.00 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	:	RAMA & CO
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 941,523.00 (FY2009)
Net Worth	:	SINGAPORE, DOLLARS 133,146.00 (FY2009)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	1
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	2.55% (5 years)

Credit Recommendation

Recommended Credit Line

No Recommendation

SHAREHOLDER DETAILS

NAME	:	LACHMAN SOBHRAJMAL GIDWANI
SHAREHOLDER ID	:	S1064169A
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	5000L MARINE PARADE ROAD #02-51 LAGOON VIEW SINGAPORE 449293
NO. OF ORD SHARES	:	135,002
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	NICK PRINCE
SHAREHOLDER ID	:	S1226922F
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	870 TAMPINES STREET 83 #12-167 SINGAPORE 520870
NO. OF ORD SHARES	:	135,001
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LAL GIDWANI NEE RAMCHAND ASHA
ADDRESS	:	5000L MARINE PARADE ROAD #02-51 LAGOON VIEW SINGAPORE 449293
POSITION	:	SECRETARY
DATE OF APPT	:	30/04/2004
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0077022A

NAME	:	LACHMAN SOBHRAJMAL GIDWANI
ADDRESS	:	5000L MARINE PARADE ROAD #02-51 LAGOON VIEW SINGAPORE 449293
POSITION	:	DIRECTOR
DATE OF APPT	:	04/01/1991
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1064169A

NAME	:	NICK PRINCE
ADDRESS	:	870 TAMPINES STREET 83 #12-167 SINGAPORE 520870
POSITION	:	DIRECTOR
DATE OF APPT	:	04/01/1991
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1226922F

KEY PERSONNEL PROFILE

Name:	LACHMAN SOBHRAJMAL GIDWANI
NRIC Number:	S1064169A
Available Address:	5000L MARINE PARADE ROAD #02-51 LAGOON VIEW SINGAPORE 449293

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	AKBAR & ANAND PTE LTD	DIRECTOR	04/01/1991	135002	50.00
2	JAGUAR APPAREL DISTRIBUTORS PTE LTD	DIRECTOR	27/11/1974	268889	53.77
3	LAL'S PTE. LTD.	DIRECTOR	31/01/2008	1000	50.00

Previous Business

No.

Name

Status

Position

Appt Date

Last Known Inactive Date

AKBAR AND ANAND HOLDING PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

16/07/1979

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
H	540	2000	26/07/2000	SGD 500,000.00	Credit Related
H	2022	1998	05/11/1998	SGD 500,000.00	Property Related

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

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.

	Current Year On/After 01 Jan 2011	Past Years Wef 01 Jan 2011

Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	1
District ($80,000 - $250,000)	0	0
High (>$250,000)	0	0

Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Magistrate Court
	Case No.	:	37853
	Date of Filing	:	04/11/2003
	Amount	:	17,605.00
	Cause	:	Contract - Provisions of Services Excluding Renovation
	Case Status	:	DEEMED DISCONTINUED
	Plaintiff	:	AMERICAN EXPRESS INTERNATIONAL INC.
	Last Update Date	:	18/05/2010

COMPLIANCE RECORDS

Date of Last AGM	:	27/08/2010
Date of Last AR	:	27/09/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2009	% Change	DEC 2008	DEC 2006	DEC 2005	DEC 2004
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	941,523	-1.94	960,144	836,699	920,630	830,224
Profit/(Loss) Before Tax	11,773	-61.01	30,195	27,657	26,063	28,640
Profit After Tax attributable to Shareholders	11,773	-61.01	30,195	27,657	26,063	28,640

Balance Sheet Key Figures
Total Assets	396,744	11.70	355,187	279,782	347,300	267,085
Current Assets	396,744	13.82	348,561	259,900	320,790	267,081
Non Current Assets	0	-100.00	6,626	19,882	26,510	4

Total Liabilities	263,598	12.74	233,814	212,602	307,777	253,625
Current Liabilities	258,620	16.13	222,705	193,669	284,193	253,625
Non Current Liabilities	4,978	-55.19	11,109	18,933	23,584	0

Shareholders' Funds	133,146	9.70	121,373	67,180	39,523	13,460
Share Capital	270,003	0.00	270,003	270,003	270,003	270,003
Total Reserves	(136,857)	NA	(148,630)	(202,823)	(230,480)	(256,543)

FINANCIAL RATIOS

	Company
	DEC 2009	DEC 2008	DEC 2006	DEC 2005	DEC 2004
Growth %
Year-on-Year Growth	-1.94	NA	-9.12	10.89	NA

Profitability
Profit Margin (%)	1.25	3.14	3.31	2.83	3.45
Return on Equity (%)	8.84	24.88	41.17	65.94	212.78
Return on Assets (%)	2.97	8.50	9.89	7.50	10.72

Leverage
Total Debt/Equity (Times)	1.98	1.93	3.16	7.79	18.84
Current Debt/Equity (Times)	1.94	1.83	2.88	7.19	18.84
Long Term Debt To Equity (Times)	0.04	0.09	0.28	0.60	0.00
Total Asset To Total Equity (Times)	2.98	2.93	4.16	8.79	19.84

Asset Management
Total Assets Turnover (Times)	2.37	2.70	2.99	2.65	3.11
Fixed Assets Turnover (Times)	0.00	144.91	42.08	34.73	207,556.00

Liquidity
Current Ratio (Times)	1.53	1.57	1.34	1.13	1.05

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 2.55% (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 company yielded a rate of net profit on sales of 1.25 per cent in FY09 (FY08: 3.14 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales in FY09, as compared with SINGAPORE, DOLLARS 0.03 a year ago.

Liquidity

Current ratio stood at 1.53 times in FY09 (FY08: 1.57 times). This means that the company has SINGAPORE, DOLLARS 1.53 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 1.98 times in FY09, compared with 1.93 times in FY08. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.98 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 8.84 per cent for Subject in the current financial period, as compared to 24.88 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 2.97 per cent (FY08: 8.50 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 2.37 times in FY09 (FY08: 2.70 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.44.33
UK Pound	1	Rs.73.89
Euro	1	Rs.65.57

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%)

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.