MIRA INFORM REPORT
|
Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROKKO LEADFRAMES PTE. LTD. |
|
|
|
|
Formerly Known As : |
Jade Precision
Engineering Pte Ltd |
|
|
|
|
Registered Office : |
61 Kaki Bukit Road 2 Singapore 417869 |
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|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2010 |
|
|
|
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Date of Incorporation : |
20.10.1989 |
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|
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Com. Reg. No.: |
198904581C |
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|
|
Legal Form : |
Limited Private Company |
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|
|
|
Line of Business : |
Installation of Industrial Machinery and Equipment Mechanical Engineering Works |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Executive
Summary
Credit Recommendation
|
Recommended Credit Line |
: |
No Recommendation |
SHAREHOLDER DETAILS
|
: |
ROKKO MATERIALS PTE. LTD. |
|
|
SHAREHOLDER ID |
: |
200309052C |
|
NATIONALITY |
: |
SINGAPORE |
|
ADDRESS |
: |
61 KAKI BUKIT ROAD 2 SINGAPORE 417869 |
|
NO. OF ORD SHARES |
: |
21,003,489 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
LIM CHONG
CHEN |
|
|
ADDRESS |
: |
10
BEDOK RESERVOIR VIEW #04-28 CLEARWATER, THE SINGAPORE 479236 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
28/02/2011 |
|
NATIONALITY |
: |
SINGAPORE
P.R. |
|
I/C PASSPORT |
: |
S2585064E |
|
|
||
|
NAME |
: |
VINCENT
LIM BOCK HUI |
|
ADDRESS |
: |
9
LORONG 27A GEYLANG #05-16 SIMS GREEN SINGAPORE 388134 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
01/03/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7134633A |
|
|
||
|
NAME |
: |
CHEY
LONG WAN |
|
ADDRESS |
: |
486A
TAMPINES AVENUE 9 #12-108 SINGAPORE 520486 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
28/02/2011 |
|
NATIONALITY |
: |
SINGAPORE
P.R. |
|
I/C PASSPORT |
: |
S7681776F |
KEY PERSONNEL PROFILE
|
LIM CHONG CHEN |
|
|
NRIC Number: |
S2585064E |
|
Available Address: |
10 BEDOK RESERVOIR VIEW #04-28
CLEARWATER, THE SINGAPORE 479236 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
ROKKO HOLDINGS LTD. |
DIRECTOR |
30/09/2003 |
- |
- |
|
|
2 |
ROKKO LEADFRAMES PTE. LTD. |
DIRECTOR |
28/02/2011 |
- |
- |
|
3 |
ROKKO MATERIALS PTE. LTD. |
DIRECTOR |
15/09/2003 |
- |
- |
|
4 |
ROKKO MECHATRONICS PTE. LTD. |
DIRECTOR |
07/03/2007 |
- |
- |
|
5 |
ROKKO STAMPING PTE. LTD. |
DIRECTOR |
08/01/2004 |
- |
- |
|
6 |
ROKKO SYSTEMS PTE. LTD. |
DIRECTOR |
21/04/2004 |
- |
- |
|
7 |
ROKKO TECHNOLOGY PTE LTD |
DIRECTOR |
22/11/1994 |
- |
- |
|
8 |
ROKKO TECHNOLOGY PTE LTD |
MANAGING DIRECTOR |
23/05/1995 |
- |
- |
|
9 |
ROKKO VENTURES PTE. LTD. |
DIRECTOR |
30/10/2003 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
|
FASTECH CARBIDE TOOLINGS PTE
LTD |
STRUCK OFF |
DIRECTOR |
27/05/1992 |
06/10/2001 |
|
|
2 |
FINIX TECHNOLOGY PTE. LTD. |
AMALGAMATED |
DIRECTOR |
26/01/2007 |
- |
|
3 |
KINETICS SOLUTIONS (S) PTE LTD |
LIVE COMPANY |
DIRECTOR |
26/08/1997 |
07/01/1999 |
|
4 |
ROKKO HOLDINGS LTD. |
LIVE COMPANY |
SHAREHOLDER |
- |
05/05/2011 |
|
5 |
ROKKO STAMPING PTE. LTD. |
LIVE COMPANY |
SHAREHOLDER |
- |
29/04/2011 |
|
6 |
ROKKO SYSTEMS PTE. LTD. |
LIVE COMPANY |
SHAREHOLDER |
- |
05/05/2011 |
|
7 |
ROKKO TECHNICS |
CANCELLATION |
MANAGER |
16/10/1992 |
02/05/2003 |
|
8 |
ROKKO TECHNICS |
CANCELLATION |
OWNER |
16/10/1992 |
02/05/2003 |
|
9 |
ROKKO TECHNOLOGY PTE LTD |
LIVE COMPANY |
SHAREHOLDER |
- |
05/05/2011 |
|
10 |
ROKKO VENTURES PTE. LTD. |
LIVE COMPANY |
SHAREHOLDER |
- |
08/04/2011 |
KEY PERSONNEL PROFILE
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 |
|
17453 |
2005 |
25/07/2005 |
SGD
4,004.40 |
Negligence
Related |
SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
|
|
|
|
|
|
BANKERS/
FINANCIERS
Subject
enjoys a normal banking routine with its bankers. To date, there have been 2 bank
charges registered against Subject by its bankers. The charge numbers are:
|
Charge
No. |
: |
C200811197 |
|
|
|
Date
of Registration |
: |
18/12/2008 |
|
|
Chargee |
: |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
|
|
Address |
: |
21
COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320 |
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|||
|
2) |
Charge
No. |
: |
C200811188 |
|
|
Date
of Registration |
: |
18/12/2008 |
|
|
Chargee |
: |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
|
|
Address |
: |
21 COLLYER
QUAY #14-01 HSBC BUILDING SINGAPORE 049320 |
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. |
: |
19099 |
|
|
Date
of Filing |
: |
31/07/2008 |
|
|
Amount
|
: |
4,851.75 |
|
|
Cause |
: |
Others
/ Miscellaneous |
|
|
Case
Status |
: |
CONCLUDED |
|
|
Plaintiff |
: |
APPLE
ADVERTISING AGENCY |
|
|
Last
Update Date |
: |
10/08/2010 |
COMPLIANCE
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
07/03/2011 |
|
Date of A/C Laid At Last AGM |
: |
30/09/2010 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
|||||
|
|
SEP 2010 |
% Change |
SEP 2009 |
SEP 2008 |
SEP 2007 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
|
|
|
|
|
|
26,349,000 |
56.64 |
16,821,000 |
29,133,000 |
35,077,000 |
|
|
Profit/(Loss) Before Tax |
(681,000) |
NA |
(2,409,000) |
8,526,000 |
(3,063,000) |
|
Profit After Tax attributable to
Shareholders |
(681,000) |
NA |
(2,409,000) |
8,473,000 |
(3,063,000) |
|
|
|
|
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|
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|
Balance Sheet Key Figures |
|
|
|
|
|
|
Total Assets |
19,704,000 |
10.27 |
17,869,000 |
20,884,000 |
25,888,000 |
|
Current Assets |
8,933,000 |
8.44 |
8,238,000 |
10,962,000 |
17,016,000 |
|
Non Current Assets |
10,771,000 |
11.84 |
9,631,000 |
9,922,000 |
8,872,000 |
|
|
|
|
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|
Total Liabilities |
10,165,000 |
20.18 |
8,458,000 |
9,064,000 |
24,945,000 |
|
Current Liabilities |
6,580,000 |
-18.06 |
8,030,000 |
8,430,000 |
15,976,000 |
|
Non Current Liabilities |
3,585,000 |
737.62 |
428,000 |
634,000 |
8,969,000 |
|
|
|
|
|
|
|
|
Shareholders' Funds |
9,539,000 |
1.36 |
9,411,000 |
11,820,000 |
943,000 |
|
Share Capital |
22,003,000 |
0.00 |
22,003,000 |
22,003,000 |
22,003,000 |
|
Total Reserves |
(12,464,000) |
NA |
(12,592,000) |
(10,183,000) |
(21,060,000) |
|
|
|
|
|
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FINANCIAL RATIOS
|
|
||||
|
|
SEP
2010 |
SEP
2009 |
SEP
2008 |
SEP
2007 |
|
Growth % |
|
|
|
|
|
56.64 |
-42.26 |
-16.95 |
NA |
|
|
|
|
|
|
|
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Profitability |
|
|
|
|
|
Profit Margin (%) |
-2.58 |
-14.32 |
29.08 |
-8.73 |
|
Return on Equity (%) |
-7.14 |
-25.60 |
71.68 |
-324.81 |
|
Return on Assets (%) |
-3.46 |
-13.48 |
40.57 |
-11.83 |
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
Total Debt/Equity (Times) |
1.07 |
0.90 |
0.77 |
26.45 |
|
Current Debt/Equity (Times) |
0.69 |
0.85 |
0.71 |
16.94 |
|
Long Term Debt To Equity (Times) |
0.38 |
0.05 |
0.05 |
9.51 |
|
Total Asset To Total Equity (Times) |
2.07 |
1.90 |
1.77 |
27.45 |
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
Total Assets Turnover (Times) |
1.34 |
0.94 |
1.39 |
1.35 |
|
Fixed Assets Turnover (Times) |
2.45 |
1.75 |
2.94 |
3.95 |
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
Current Ratio (Times) |
1.36 |
1.03 |
1.30 |
1.07 |
FINANCIAL
COMMENTARY
Profitability
We are unable to comment on
Subject's profitability.
Liquidity
Current ratio stood at 1.36 times in FY10
(FY09: 1.03 times). This means that the company has SGD - SIN 1.36 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 1.07 times in FY10, as compared with 0.90 times in FY09. This means
that the company requires additional external financing of SGD - SIN 1.07 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
We are unable to comment on Subject's return on equity.
We are unable to comment on Subject's return on assets.
Total assets turnover ratio logged at 1.34 times in FY10 (FY09: 0.94
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.44.73 |
|
UK Pound |
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.63.90 |
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.