MIRA INFORM REPORT

 

 

Report Date :           

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

KLANDEE RESOURCES PTE. LTD.

 

 

Formerly Known As :

KLANDEE PTE. LTD

 

 

Registered Office :

65 Chulia Street #39-07 Ocbc Centre Singapore 049513

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2009

 

 

Date of Incorporation :

26.07.2006

 

 

Com. Reg. No.:

200610895D

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Petroleum, Mining and Prospecting Services

(Including Offshore Exploration Services)

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$8,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

---

 

 

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 31st, 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

 

Executive Summary

 

Company Name

:

KLANDEE RESOURCES PTE. LTD.

Registration No

:

200610895D

Date of Registration

:

26/07/2006

Former Name

:

1.MEGATRADE MANAGEMENT CONSULTANT (S) PTE. LTD. Eff. date : 26/07/2006 Eff. date : 26/07/2006

2.KLANDEE PTE. LTD. Eff. date : 14/11/2006 Eff. date : 14/11/2006

Date of Change of Name

:

02/12/2009

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

65 CHULIA STREET #39-07 OCBC CENTRE SINGAPORE 049513

Date of Change of Address

:

01/02/2010

Contact No.

:

6535 3005

Fax No.

:

6535 3505

Website

:

NA

Registered Activities

:

1. PETROLEUM, MINING AND PROSPECTING SERVICES (INCLUDING OFFSHORE EXPLORATION SERVICES)

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$259,286.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 259,286

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$259,286.00 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

:

SAW MENG TEE & CO

Bankers / Financiers

:

BNP PARIBAS

Turnover

:

SGD - SIN 10,501,095.00 (FY2009)

Net Worth

:

SGD - SIN 160,174.00 (FY2009)

No. of Bank Charges

:

2

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

957 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

260 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$8,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

LIAN SHER-LI

SHAREHOLDER ID

:

S7232917A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

912 HOUGANG STREET 91 #15-44 SINGAPORE 530912

NO. OF ORD SHARES

:

259,286

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ABDUL JABBAR BIN KARAM DIN

ADDRESS

:

21 SIGLAP HILL FRANKEL ESTATE SINGAPORE 456076

POSITION

:

 

SECRETARY

DATE OF APPT

:

 

13/11/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6936625B

 

NAME

:

LIAN SHER-LI

ADDRESS

:

912 HOUGANG STREET 91 #15-44 SINGAPORE 530912

POSITION

:

DIRECTOR

DATE OF APPT

:

01/12/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7232917A

 

NAME

:

CHAN HOOI TZE

ADDRESS

:

930 HOUGANG STREET 91 #06-119 SINGAPORE 530930

POSITION

:

SECRETARY

DATE OF APPT

:

11/08/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7516979E

 

 

KEY PERSONNEL PROFILE

 

Name:

LIAN SHER-LI

NRIC Number:

S7232917A

Available Address:

912 HOUGANG STREET 91 #15-44  SINGAPORE 530912

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

KLANDEE RESOURCES PTE. LTD.

DIRECTOR

01/12/2009

259286

100.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ASICHEM TRADING (S) PTE LTD

IN LIQUIDATION - COMPULSORY WINDING UP (INSOLVENCY)

DIRECTOR/SHR

28/04/1998

-

 

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 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201111011

 

Date of Registration

:

02/09/2011

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

2)

Charge No.

:

C200703619

 

Date of Registration

:

15/05/2007

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

31/12/2010

Date of Last AR

:

31/01/2011

Date of A/C Laid At Last AGM

:

30/06/2010

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2009

% Change

JUN 2008

JUN 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

10,501,095

-58.93

25,567,693

11,498,280

Profit/(Loss) Before Tax

(81,620)

NA

(523,093)

889,686

Profit After Tax attributable to Shareholders

(81,620)

NA

(523,093)

764,886

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

329,455

-62.44

877,139

1,486,013

Current Assets

305,144

-63.72

841,142

1,443,040

Non Current Assets

24,311

-32.46

35,997

42,973

 

 

 

 

 

Total Liabilities

169,281

-73.36

635,345

721,126

Current Liabilities

169,281

-73.36

635,345

721,126

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

160,174

-33.76

241,794

764,887

Share Capital

1

0.00

1

1

Total Reserves

160,173

-33.76

241,793

764,886

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

JUN 2009

JUN 2008

JUN 2007

Growth %

 

 

 

Year-on-Year Growth

-58.93

122.36

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-0.78

-2.05

6.65

Return on Equity (%)

-50.96

-216.34

100.00

Return on Assets (%)

-24.77

-59.64

51.47

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

1.06

2.63

0.94

Current Debt/Equity (Times)

1.06

2.63

0.94

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.06

3.63

1.94

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

31.87

29.15

7.74

Fixed Assets Turnover (Times)

431.95

710.27

267.57

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.80

1.32

2.00

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.80 times in FY09 (FY08: 1.32 times). This means that the company has SGD - SIN 1.80 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 1.06 times in FY09, compared with 2.63 times in FY08. This means that the company requires additional external financing of SGD - SIN 1.06 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 31.87 times in FY09 (FY08: 29.15 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.49.23

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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.