MIRA INFORM REPORT

 

 

Report Date :           

01.11.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERWORLD (SG) PTE. LTD.

 

 

Formerly Known As :

Epl Technology Pte Ltd

 

 

Registered Office :

246 Macpherson Road #08-05 Betime Building Singapore 348578

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

16.02.1993

 

 

Com. Reg. No.:

199300887h

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Wholesale of Electronic Components

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

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 :

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

:

INTERWORLD (SG) PTE. LTD.

Registration No

:

199300887H

Date of Registration

:

16/02/1993

Former Name

:

EPL TECHNOLOGY PTE LTD Eff. date : 16/02/1993 Eff. date : 16/02/1993

Date of Change of Name

:

10/03/2005

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

246 MACPHERSON ROAD #08-05 BETIME BUILDING SINGAPORE 348578

Date of Change of Address

:

15/12/1994

Contact No.

:

6747 2800

Fax No.

:

6747 2600

Website

:

NA

Registered Activities

:

WHOLESALE OF ELECTRONIC COMPONENTS

Issued Ordinary Capital*

:

$50,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 50,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$50,000.00 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

:

C S KOH & CO

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 3,402,937.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (1,174,082.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

12.34% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

No Recommendation

 

 

SHAREHOLDER DETAILS

 

NAME

:

LOW MIEW LEN

SHAREHOLDER ID

:

S2023109B

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

20 TECK WHYE LANE #09-67 SINGAPORE 680020

NO. OF ORD SHARES

:

40,000

% OF SHAREHOLDING

:

80%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TAY PENG HENG

SHAREHOLDER ID

:

S1620826D

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

119D KIM TIAN ROAD #22-210 SINGAPORE 164119

NO. OF ORD SHARES

:

10,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TAY LEE HIANG

ADDRESS

:

38 BEO CRESCENT #04-46 SINGAPORE 160038

POSITION

:

DIRECTOR

DATE OF APPT

:

01/12/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1285791H

 

NAME

:

JENNY TANG

ADDRESS

:

24 FULTON AVENUE FULTON HILL SINGAPORE 578990

POSITION

:

SECRETARY

DATE OF APPT

:

20/08/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1324157J

 

NAME

:

TAY PENG HENG

ADDRESS

:

119D KIM TIAN ROAD #22-210 SINGAPORE 164119

POSITION

:

DIRECTOR

DATE OF APPT

:

16/01/1997

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1620826D

 

NAME

:

TAY LI HWANG

ADDRESS

:

1488 TOLTECA DRIVE FREMONT, CA 94539 , USA

POSITION

:

DIRECTOR

DATE OF APPT

:

21/06/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1791235F

 

NAME

:

LOW MIEW LEN

ADDRESS

:

20 TECK WHYE LANE #09-67 SINGAPORE 680020

POSITION

:

DIRECTOR

DATE OF APPT

:

16/01/1997

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2023109B

 

 

KEY PERSONNEL PROFILE

 

Name:

LOW MIEW LEN

NRIC Number:

S2023109B

Available Address:

20 TECK WHYE LANE #09-67  SINGAPORE 680020

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

INTERWORLD (SG) PTE. LTD.

DIRECTOR

16/01/1997

40000

80.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

INTERWORLD SINGAPORE PTE. LTD.

STRUCK OFF

DIRECTOR

28/11/2003

-

 

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 RECORDS

 

Date of Last AGM

:

31/08/2011

Date of Last AR

:

06/10/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

3,402,937

101.63

1,687,677

1,240,829

1,980,686

2,136,219

Profit/(Loss) Before Tax

396,880

5,981.52

6,526

25,767

223,164

11,959

Profit After Tax attributable to Shareholders

396,880

5,981.52

6,526

25,767

223,164

11,959

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,382,283

3.43

2,303,240

1,940,489

2,023,034

1,885,807

Current Assets

2,379,198

3.50

2,298,724

1,937,598

2,016,417

1,878,176

Non Current Assets

3,085

-31.69

4,516

2,891

6,617

7,631

 

 

 

 

 

 

 

Total Liabilities

3,556,365

-8.20

3,874,202

3,517,977

3,626,289

3,712,226

Current Liabilities

3,556,365

-8.20

3,874,202

3,517,977

3,503,439

3,601,527

Non Current Liabilities

0

NA

0

0

122,850

110,699

 

 

 

 

 

 

 

Shareholders' Funds

(1,174,082)

NA

(1,570,962)

(1,577,488)

(1,603,255)

(1,826,419)

Share Capital

50,000

0.00

50,000

50,000

50,000

50,000

Total Reserves

(1,224,082)

NA

(1,620,962)

(1,627,488)

(1,653,255)

(1,876,419)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

101.63

36.01

-37.35

-7.28

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

11.66

0.39

2.08

11.27

0.56

Return on Equity (%)

-33.80

-0.42

-1.63

-13.92

-0.65

Return on Assets (%)

16.66

0.28

1.33

11.03

0.63

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-3.03

-2.47

-2.23

-2.26

-2.03

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-2.03

-1.47

-1.23

-1.26

-1.03

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.43

0.73

0.64

0.98

1.13

Fixed Assets Turnover (Times)

1,103.06

373.71

429.20

299.33

279.94

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.67

0.59

0.55

0.58

0.52

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 12.34% (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 11.66 per cent in FY10 (FY09: 0.39 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.12 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

 

 

Liquidity

 

Current ratio stood at 0.67 times in FY10 (FY09: 0.59 times). This means that the company has SINGAPORE, DOLLARS 0.67 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

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

We are unable to comment on Subject's return on equity.

 

Return on assets stood at 16.66 per cent (FY09: 0.28 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 1.43 times in FY10 (FY09: 0.73 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.48.87

UK Pound

1

Rs.78.11

Euro

1

Rs.68.36

 

 

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.