MIRA INFORM REPORT

 

 

Report Date :           

18.10.2011

 

IDENTIFICATION DETAILS

 

Name :

AGC NETWORKS PTE. LTD.

 

 

Formerly Known As :

AEGIS TECH SINGAPORE PTE. LTD.

 

 

Registered Office :

10 Jalan Besar #10-12 Sim Lim Tower Singapore 208787

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

10.11.2009

 

 

Com. Reg. No.:

200921052H

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Software Consultancy

 

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$459,000

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 – 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

:

AGC NETWORKS PTE. LTD.

Registration No

:

200921052H

Date of Registration

:

10/11/2009

Former Name

:

1.AEGIS IT SERVICES SINGAPORE PTE. LTD. Eff. date : 10/11/2009 Eff. date : 10/11/2009

2.AEGIS TECH SINGAPORE PTE. LTD. Eff. date : 04/02/2010 Eff. date : 04/02/2010

Date of Change of Name

:

07/07/2011

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

10 JALAN BESAR #10-12 SIM LIM TOWER SINGAPORE 208787

Date of Change of Address

:

10/11/2009

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

SOFTWARE CONSULTANCY

Issued Ordinary Capital*

:

$100.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100.00 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

:

MGI N RAJAN ASSOCIATES

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 31,032,446.37 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 4,593,675.50 (FY2011)

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)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$459,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

AGC NETWORKS LIMITED

SHAREHOLDER ID

:

T11UF2561G

NATIONALITY

:

INDIA

ADDRESS

:

72 KALPATARU SYNERGY, OPP. GRAND HYATT VAKOLA, ANDHERI (EAST), MUMBAI-400055, INDIA

NO. OF ORD SHARES

:

100

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

PALLIPAKKAM SIVARAMA RAMANATHAN

ADDRESS

:

7 MARINE VISTA #13-15 NEPTUNE COURT SINGAPORE 449031

POSITION

:

DIRECTOR

DATE OF APPT

:

18/06/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2646845J

 

NAME

:

BEULAH SHANTHINI

ADDRESS

:

190 HOLLAND ROAD TOHO MANSION SINGAPORE 278585

POSITION

:

SECRETARY

DATE OF APPT

:

10/11/2009

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2696645J

 

 

 

KEY PERSONNEL PROFILE

 

Name:

PALLIPAKKAM SIVARAMA RAMANATHAN

NRIC Number:

S2646845J

Available Address:

7 MARINE VISTA #13-15 NEPTUNE COURT  SINGAPORE 449031

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ABI-SHOWATECH INTERNATIONAL PTE LTD

DIRECTOR

03/04/1995

-

-

2

AGC NETWORKS PTE. LTD.

DIRECTOR

18/06/2010

-

-

3

FTC PTE. LTD.

DIRECTOR

11/08/2008

-

-

4

H & J (S) PTE LTD

DIRECTOR

30/11/1991

99999

99.99

5

IDEE NOUVELLE PTE. LTD.

DIRECTOR

09/08/2006

24999

99.99

6

IDEE TECHNOLOGIES PTE. LTD.

DIRECTOR

09/08/2006

-

-

7

J.K. ASIA PACIFIC (S) PTE LTD

DIRECTOR

05/01/2000

-

-

8

LATHANGI AUTOMOBILES SINGAPORE PTE. LTD.

DIRECTOR

27/01/2011

-

-

9

MEGATECH CONTROL (S) PTE LTD

DIRECTOR

29/07/1995

-

-

10

MINERVA PTE. LTD.

DIRECTOR

17/09/2003

1

50.00

11

PENTLOW INVESTMENTS & HOLDINGS PTE. LTD.

SECRETARY

19/02/2011

1

50.00

12

QUEST GLOBAL TRUST PTE. LTD.

DIRECTOR

11/11/2010

1

50.00

13

SAESUN PTE. LTD.

DIRECTOR

28/07/2006

-

-

14

STERNPAR PTE. LTD.

DIRECTOR

04/04/2011

-

-

15

STERNPAR PTE. LTD.

SECRETARY

04/04/2011

-

-

16

SYNDEL CORP PTE. LTD.

DIRECTOR

06/04/2010

-

-

17

TARDERIV INTERNATIONAL PTE. LTD.

DIRECTOR

10/12/2010

-

-

18

TITAN SYSTEMS & CONSULTANTS PTE LTD

DIRECTOR

13/09/1991

50000

50.00

19

VIKASA PTE. LTD.

DIRECTOR

27/08/2007

-

-

20

XELL ENTERPRISES PTE. LTD.

DIRECTOR

26/06/2007

-

-

21

XELL ENTERPRISES PTE. LTD.

SECRETARY

14/01/2008

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

7 HILLS GLOBAL LTD.

STRUCK OFF

DIRECTOR

27/10/1994

09/07/1996

2

ABAN SINGAPORE PTE. LTD.

LIVE COMPANY

DIRECTOR

16/12/2005

09/01/2006

3

ACI INFOCOM (S) PTE. LTD.

STRUCK OFF

DIRECTOR

09/09/2003

06/12/2006

4

AMAZON EXPORTS PTE. LTD.

LIVE COMPANY

DIRECTOR

19/10/2007

06/09/2011

5

AMERICAN STYLE PTE. LTD.

LIVE COMPANY

DIRECTOR

12/07/2005

22/03/2006

6

ARC TECH & CONSULTANTS PTE LTD

STRUCK OFF

DIRECTOR

11/11/1993

28/02/1994

7

AVEMORE PTE LTD

LIVE COMPANY

DIRECTOR

09/10/1995

27/04/1996

8

BRABOURNE EXIM PTE LTD

STRUCK OFF

ALT DIRECTOR

05/02/1997

-

9

BRABOURNE TRADING PTE. LTD.

STRUCK OFF

DIRECTOR

13/04/2005

20/04/2005

10

CA-TCG SOFTWARE PRIVATE LIMITED

STRUCK OFF

DIRECTOR

19/09/2002

20/04/2006

11

CIPLA SINGAPORE PTE. LTD.

STRUCK OFF

DIRECTOR

07/06/2010

-

12

ESSAR INVESTMENTS PTE LTD

STRUCK OFF

DIRECTOR

24/03/1995

13/02/1997

13

EUROBIS INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

29/10/1994

07/05/1997

14

FELIXITY ENTERTAINMENT PTE LTD

STRUCK OFF

DIRECTOR

30/12/1998

19/04/2001

15

GREENOCK PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

16

GUJARAT AMBUJA INTERNATIONAL PTE LTD

LIVE COMPANY

DIRECTOR

21/08/1996

14/01/1998

17

HIGHMODE PTE LTD

STRUCK OFF

DIRECTOR

24/10/2000

-

18

HITACHI CONSULTING SINGAPORE PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

24/06/2011

19

J.K. ASIA PACIFIC (S) PTE LTD

LIVE COMPANY

SHAREHOLDER

-

09/02/2007

20

LARSEN & TOUBRO LIMITED

CEASED REGISTRATION

AGENT

22/08/1996

-

21

LARSEN & TOUBRO LIMITED

CEASED REGISTRATION

AGENT

22/08/1996

19/03/1997

22

LOTUS HOLDINGS & INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

26/12/2002

11/01/2003

23

MAHESH TIMBER SINGAPORE PTE. LTD.

LIVE COMPANY

DIRECTOR

16/08/2007

21/06/2010

24

MARVIS PTE LTD

LIVE COMPANY

DIRECTOR

06/05/2000

20/09/2000

25

MEGATECH CONTROL (S) PTE LTD

LIVE COMPANY

SHAREHOLDER

-

17/08/2010

26

MONA IMPEX (PTE) LTD

STRUCK OFF

DIRECTOR

13/04/1992

28/06/1993

27

MOTOR MATE PRODUCTS PTE LTD

STRUCK OFF

DIRECTOR

24/10/1996

-

28

NINJA FORWARDERS PTE LTD

STRUCK OFF

DIRECTOR

26/11/1991

16/09/1992

29

NORTHRIDGE INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

31/01/1994

26/08/1994

30

OMSUN TECHNOLOGY PTE LTD

STRUCK OFF

DIRECTOR

08/11/1994

04/07/1997

31

PYRAMID SAIMIRA ENTERTAINMENT LIMITED

LIVE COMPANY

DIRECTOR/SHR

14/08/2007

20/06/2011

32

RAJINDER INTERNATIONAL LIMITED

STRUCK OFF

DIRECTOR

15/07/1994

22/12/1995

33

SELVAN INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

31/03/2003

-

34

SINTAN INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

11/09/1993

13/11/1997

35

SOUTHERN ELECTRONICS PTE. LTD.

STRUCK OFF

DIRECTOR

06/05/2000

-

36

SUNTECH CORPORATION (S) PTE. LTD.

STRUCK OFF

DIRECTOR

01/03/2006

-

37

SWEETCO INTERNATIONAL PTE. LTD.

LIVE COMPANY

DIRECTOR

09/09/2003

02/02/2005

38

VIKASA PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

02/06/2011

39

VISION IMPEX PTE. LTD.

STRUCK OFF

DIRECTOR

24/07/2003

19/08/2003

40

WAVE OVERSEAS

CANCELLATION

MANAGER

07/09/1996

16/10/2000

41

WHITEWATER PTE. LTD.

LIVE COMPANY

DIRECTOR

13/02/2006

06/05/2011

 

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

:

29/07/2011

Date of Last AR

:

22/08/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

31,032,446

5,653.70

539,348

Profit/(Loss) Before Tax

5,512,775

10,444.91

52,279

Profit After Tax attributable to Shareholders

4,547,740

9,299.46

48,383

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

27,455,415

3,911.46

684,425

Current Assets

23,545,751

3,340.22

684,425

Non Current Assets

3,909,664

NA

0

 

 

 

 

Total Liabilities

22,861,739

3,494.94

635,943

Current Liabilities

22,345,747

3,413.80

635,943

Non Current Liabilities

515,992

NA

0

Shareholders' Funds

4,593,676

9,375.01

48,482

Share Capital

94

-5.71

100

Total Reserves

4,593,581

9,394.40

48,382

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

Growth %

 

 

Year-on-Year Growth

5,653.70

NA

 

 

 

Profitability

 

 

Profit Margin (%)

14.65

8.97

Return on Equity (%)

99.00

99.80

Return on Assets (%)

16.56

7.07

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

4.98

13.12

Current Debt/Equity (Times)

4.86

13.12

Long Term Debt To Equity (Times)

0.11

0.00

Total Asset To Total Equity (Times)

5.98

14.12

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

1.13

0.79

Fixed Assets Turnover (Times)

7.94

0.00

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.05

1.08

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 14.65 per cent in FY11 (FY10: 8.97 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.15 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.09 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.05 times in FY11 (FY10: 1.08 times). This means that the company has SINGAPORE, DOLLARS 1.05 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 4.98 times in FY11,as  compared with 13.12 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 4.98 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 99.00 per cent for Subject in the current financial period, as compared to 99.80 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 16.56 per cent (FY10: 7.07 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 1.13 times in FY11 (FY10: 0.79 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.48.89

UK Pound

1

Rs.77.31

Euro

1

Rs.67.79

 

 

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.