MIRA INFORM REPORT

 

 

Report Date :           

25.10.2011

 

IDENTIFICATION DETAILS

 

Name :

DAIEI PAPERS (S.A.) PTE LTD

 

 

Registered Office :

140 Cecil Street #14-02 Pil Building Singapore 069540

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

31.03.2000

 

 

Com. Reg. No.:

200002720w

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of paper and paper products

 

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$153,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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

:

DAIEI PAPERS (S.A.) PTE LTD

Registration No

:

200002720W

Date of Registration

:

31/03/2000

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

140 CECIL STREET #14-02 PIL BUILDING SINGAPORE 069540

Date of Change of Address

:

01/10/2008

Contact No.

:

6220 2119

Fax No.

:

62253675

Website

:

NA

Registered Activities

:

WHOLESALE OF PAPER AND PAPER PRODUCTS

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 74,087,887.53 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 3,051,835.11 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1481 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

6 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2006/2007)

377 POSITION IN SME 500 Companies Ranked by Net Profit (2006/2007)

268 POSITION IN SME 500 Companies Ranked by Return on Equities (2006/2007)

1324 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

0.21% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$153,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

DAIEI PAPERS (S) PTE LTD

SHAREHOLDER ID

:

199701663C

NATIONALITY

:

SINGAPORE

ADDRESS

:

140 CECIL STREET #14-02 PIL BUILDING SINGAPORE 069540

NO. OF ORD SHARES

:

800,000

% OF SHAREHOLDING

:

80%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

VIJAY KUMAR GUPTA

SHAREHOLDER ID

:

S2650264J

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

9 RHU CROSS #12-05 COSTA RHU SINGAPORE 437436

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

10%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SUDHA GUPTA

SHAREHOLDER ID

:

S2650265I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

9 RHU CROSS #12-05 COSTA RHU SINGAPORE 437436

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

10%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

LIM BEE ENG

ADDRESS

:

289 BISHAN STREET 24 #16-17 SINGAPORE 570289

POSITION

:

SECRETARY

DATE OF APPT

:

19/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1626446F

 

NAME

:

CO DANIEL Y

ADDRESS

:

16A QUEEN ASTRID PARK SINGAPORE 266809

POSITION

:

DIRECTOR

DATE OF APPT

:

31/03/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2178228I

 

NAME

:

VIJAY KUMAR GUPTA

ADDRESS

:

9 RHU CROSS #12-05 COSTA RHU SINGAPORE 437436

POSITION

:

DIRECTOR

DATE OF APPT

:

31/03/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2650264J

 

 

KEY PERSONNEL PROFILE

 

Name:

VIJAY KUMAR GUPTA

NRIC Number:

S2650264J

Available Address:

9 RHU CROSS #12-05 COSTA RHU  SINGAPORE 437436

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CYFOX PAPERS PTE. LTD.

DIRECTOR

19/10/2005

1

50.00

2

CYFOX PAPERS PTE. LTD.

SECRETARY

19/10/2005

1

50.00

3

DAIEI PAPERS (S.A.) PTE LTD

DIRECTOR

31/03/2000

100000

10.00

4

PRIMEASIA INVESTMENT PTE LTD

DIRECTOR

02/11/1992

1000

5.00

5

SYNERGY INVESTMENT PTE LTD

DIRECTOR

19/02/1993

50000

50.00

6

W P S PTE LTD

DIRECTOR

08/06/1991

1000000

100.00

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

KAPPA INTERNATIONAL PTE LTD

LIVE COMPANY

DIRECTOR/SHR

04/11/1992

11/10/2011

2

SINGAPORE INDIAN CHAMBER OF COMMERCE & INDUSTRY

LIVE COMPANY

DIRECTOR

13/06/2002

26/05/2011

3

TRANSVICTORY HOLDINGS PTE. LTD.

LIVE COMPANY

DIRECTOR/SHR

22/11/1995

18/10/2011

 

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

 

Date of Last AGM

:

03/05/2011

Date of Last AR

:

11/05/2011

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

74,087,888

-5.54

78,435,410

66,352,405

70,010,740

73,472,456

Profit/(Loss) Before Tax

1,061,013

313.30

256,719

240,101

221,445

385,730

Profit After Tax attributable to Shareholders

908,920

286.22

235,340

203,931

201,411

347,845

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

20,396,463

-7.60

22,074,485

26,755,511

16,841,806

10,810,370

Current Assets

10,468,936

-52.51

22,042,826

26,720,190

16,832,801

10,794,716

Non Current Assets

9,927,527

31,257.68

31,659

35,321

9,005

15,654

 

 

 

 

 

 

 

Total Liabilities

17,344,628

-12.01

19,712,251

24,631,979

15,341,702

9,351,500

Current Liabilities

17,344,628

-12.01

19,712,251

24,631,979

15,341,702

9,351,500

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

3,051,835

29.19

2,362,235

2,123,531

1,500,105

1,458,870

Share Capital

880,837

-6.49

941,967

913,382

428,533

451,821

Total Reserves

2,170,998

52.86

1,420,268

1,210,149

1,071,572

1,007,049

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-5.54

18.21

-5.23

-4.71

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.23

0.30

0.31

0.29

0.47

Return on Equity (%)

29.78

9.96

9.60

13.43

23.84

Return on Assets (%)

4.46

1.07

0.76

1.20

3.22

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

5.68

8.34

11.60

10.23

6.41

Current Debt/Equity (Times)

5.68

8.34

11.60

10.23

6.41

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

6.68

9.34

12.60

11.23

7.41

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.63

3.55

2.48

4.16

6.80

Fixed Assets Turnover (Times)

7.46

2,477.51

1,878.55

7,774.65

4,693.53

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.60

1.12

1.08

1.10

1.15

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 0.21% (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 1.23 per cent in FY10 (FY09: 0.30 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 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 0.60 times in FY10 (FY09: 1.12 times). This means that the company has SINGAPORE, DOLLARS 0.60 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 5.68 times in FY10, as compared with 8.34 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 5.68 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 29.78 per cent for Subject in the current financial period, as compared to 9.96 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 4.46 per cent (FY09: 1.07 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 3.63 times in FY10 (FY09: 3.55 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.49.87

UK Pound

1

Rs.79.73

Euro

1

Rs.69.52

 

 

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.