MIRA INFORM REPORT

Report Date :

31.05.2011

IDENTIFICATION DETAILS

Name :	NEWTECH TECHNOLOGY (SOUTH ASIA) PTE LTD
Registered Office :	25 Tagore Lane #03-09 Singapore Godown Singapore 787602
Country :	Singapore
Financials (as on) :	30.06.2010
Date of Incorporation :	13.12.2000
Com. Reg. No.:	200010424D
Legal Form :	Limited Private Company
Line of Business :	Infrastructure Engineering Services

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	S$555,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – March 31^st, 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

Bottom of Form

Executive Summary

Company Name	:	NEWTECH TECHNOLOGY (SOUTH ASIA) PTE LTD
Registration No	:	200010424D
Date of Registration	:	13/12/2000
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	25 TAGORE LANE #03-09 SINGAPORE GODOWN SINGAPORE 787602
Date of Change of Address	:	08/01/2001
Contact No.	:	6452 3269
Fax No.	:	6452 3246
Website	:	www.newtechapac.com
Registered Activities	:	1. INFRASTRUCTURE ENGINEERING SERVICES 2. COMPUTER FACILITIES MANAGEMENT ACTIVITIES
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	:	CHEAM H T & CO
Bankers / Financiers	:	HANG SENG BANK LIMITED
Turnover	:	SINGAPORE, DOLLARS 12,119,463.00 (FY2010)
Net Worth	:	SINGAPORE, DOLLARS 3,699,142.00 (FY2010)
No. of Bank Charges	:	1
No. of Litigation Suits	:	2
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	15.32% (4 years)

Credit Recommendation

Recommended Credit Line

:

S$555,000

SHAREHOLDER DETAILS

NAME	:	NEWTECH TECHNOLOGY HOLDINGS LIMITED
SHAREHOLDER ID	:	T06UF1686H
NATIONALITY	:	HONG KONG
ADDRESS	:	15F ENTERPRISE SQUARE TWO, 3 SHEUNG YUET ROAD KOWLOON BAY, KOWLOON
NO. OF ORD SHARES	:	500,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LEE CHUNG TAK
ADDRESS	:	HOUSE 69,THE GIVERNY, PAK SHA WAN SAI KUNG, KOWLOON-HONG KONG
POSITION	:	DIRECTOR
DATE OF APPT	:	13/12/2000
NATIONALITY	:	CHINESE
I/C PASSPORT	:	HA9072962
NAME	:	POH SIN CHEW
ADDRESS	:	173 LORONG 1 TOA PAYOH #09-1282 SINGAPORE 310173
POSITION	:	DIRECTOR
DATE OF APPT	:	13/12/2000
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0658335J
NAME	:	POH SIONG HOI
ADDRESS	:	2 GEYLANG EAST AVENUE 2 #02-04 SIMSVILLE SINGAPORE 389754
POSITION	:	SECRETARY
DATE OF APPT	:	13/12/2000
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0658382B

KEY PERSONNEL PROFILE

Name:	LEE CHUNG TAK
NRIC Number:	HA9072962
Available Address:	HOUSE 69,THE GIVERNY, PAK SHA WAN SAI KUNG, KOWLOON-HONG KONG

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ASIA TONE (PTE.) LTD.	DIRECTOR	02/03/2007	1	50.00
2	NEWTECH TECHNOLOGY (SOUTH ASIA) PTE LTD	DIRECTOR	13/12/2000	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
No Trace

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C200804874
	Date of Registration	:	28/05/2008
	Chargee	:	HANG SENG BANK LIMITED
	Address	:	21 COLLYER QUAY #12-02 HSBC BUILDING SINGAPORE 049320

LITIGATION

The following litigation suits were traced against Subject. Case status is as per available. 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 2 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2011	Past Years W.e.f 01 Jan 2011
Court (Claim under normal circumstances)
Magistrate (< $80,000)	1	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.	:	3141
	Date of Filing	:	04/02/2009
	Amount	:	5,540.00
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	CONCLUDED
	Plaintiff	:	SZE SONG HWEE
	Last Update Date	:	22/12/2010
2)	Court	:	Magistrate Court
	Case No.	:	7386
	Date of Filing	:	22/03/2011
	Amount	:	SGD 4,300.00 SGD 750.00
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	PENDING
	Plaintiff	:	LEE KAI HWA
	Last Update Date	:	23/03/2011

COMPLIANCE RECORDS

Date of Last AGM	:	28/02/2011
Date of Last AR	:	04/04/2011
Date of A/C Laid At Last AGM	:	30/06/2010

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	JUN 2010	% Change	JUN 2009	JUN 2008	JUN 2007	JUN 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	12,119,463	20.10	10,091,139	19,658,083	5,449,080	6,853,440
Profit/(Loss) Before Tax	995,660	-0.30	998,621	1,061,590	330,270	465,261
Profit After Tax attributable to Shareholders	866,187	5.21	823,302	924,847	299,737	381,681
Balance Sheet Key Figures
Total Assets	7,383,770	45.90	5,060,881	5,843,820	2,288,985	1,817,611
Current Assets	7,318,008	47.43	4,963,630	5,731,570	2,238,715	1,760,632
Non Current Assets	65,762	-32.38	97,251	112,250	50,270	56,979
Total Liabilities	3,684,628	65.38	2,227,926	3,834,167	1,204,179	1,032,542
Current Liabilities	3,670,382	66.76	2,200,962	3,800,486	1,175,531	995,759
Non Current Liabilities	14,246	-47.17	26,964	33,681	28,648	36,783
Shareholders' Funds	3,699,142	30.58	2,832,955	2,009,653	1,084,806	785,069
Share Capital	500,000	0.00	500,000	500,000	400,000	400,000
Total Reserves	3,199,142	37.13	2,332,955	1,509,653	684,806	385,069

FINANCIAL RATIOS

	Company
	JUN 2010	JUN 2009	JUN 2008	JUN 2007	JUN 2006
Growth %
Year-on-Year Growth	20.10	-48.67	260.76	-20.49	NA
Profitability
Profit Margin (%)	7.15	8.16	4.70	5.50	5.57
Return on Equity (%)	23.42	29.06	46.02	27.63	48.62
Return on Assets (%)	11.73	16.27	15.83	13.09	21.00
Leverage
Total Debt/Equity (Times)	1.00	0.79	1.91	1.11	1.32
Current Debt/Equity (Times)	0.99	0.78	1.89	1.08	1.27
Long Term Debt To Equity (Times)	0.00	0.01	0.02	0.03	0.05
Total Asset To Total Equity (Times)	2.00	1.79	2.91	2.11	2.32
Asset Management
Total Assets Turnover (Times)	1.64	1.99	3.36	2.38	3.77
Fixed Assets Turnover (Times)	184.29	103.76	175.13	108.40	120.28
Liquidity
Current Ratio (Times)	1.99	2.26	1.51	1.90	1.77

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 15.32% (4 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 7.15 per cent in FY10 (FY09: 8.16 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.07 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.08 a year ago.

Liquidity

Current ratio stood at 1.99 times in FY10 (FY09: 2.26 times). This means that the company has SINGAPORE, DOLLARS 1.99 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 1.00 times in FY10, as compared with 0.79 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.00 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 23.42 per cent for Subject in the current financial period, as compared to 29.06 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 11.73 per cent (FY09: 16.27 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 1.64 times in FY10 (FY09: 1.99 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.74.27
Euro	1	Rs.64.35

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.