MIRA INFORM REPORT

 

 

Report Date :           

29.10.2011

 

IDENTIFICATION DETAILS

 

Name :

GMG INVESTMENT (S) PTE LTD

 

 

Registered Office :

55 Market Street #02-01 Singapore 048941

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.01.1994

 

 

Com. Reg. No.:

199400499h

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Bank/Financial Holding Companies

Investment Companies

 

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$1,000,000

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

:

GMG INVESTMENT (S) PTE LTD

Registration No

:

199400499H

Date of Registration

:

21/01/1994

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

55 MARKET STREET #02-01 SINGAPORE 048941

Date of Change of Address

:

02/05/2007

Contact No.

:

6220 8638

Fax No.

:

6225 5613

Website

:

NA

Registered Activities

:

1. BANK/FINANCIAL HOLDING COMPANIES

INVESTMENT COMPANIES

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

Issued Ordinary Capital*

:

$55,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 55,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$55,000,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 418,855,162.95 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 58,310,497.56 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1120 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

717 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

914 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

756 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

945 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

22.88% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

GMG HOLDINGS LTD

SHAREHOLDER ID

:

199703184W

NATIONALITY

:

SINGAPORE

ADDRESS

:

55 MARKET STREET #03-01 SINGAPORE 048941

NO. OF ORD SHARES

:

55,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

JEFFREY GONDOBINTORO

ADDRESS

:

33 TANGLIN ROAD #10-09 ST REGIS RESIDENCES SINGAPORE SINGAPORE 247913

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

28/01/1994

02/01/1998

NATIONALITY

:

INDONESIAN

I/C PASSPORT

:

F2226456R

 

NAME

:

HAN JIANGUO

ADDRESS

:

31 AMBER ROAD #20-08 SEA VIEW, THE SINGAPORE 439943

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/08/2011

01/08/2011

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G5182352X

 

NAME

:

CHIA LUANG CHEW HAZEL

ADDRESS

:

729 CLEMENTI WEST STREET 2 #10-354 SINGAPORE 120729

POSITION

:

SECRETARY

DATE OF APPT

:

01/10/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1407126A

 

NAME

:

MA DEYOU

ADDRESS

:

32 TANAH MERAH KECHIL ROAD #14-18 EAST MEADOWS SINGAPORE 465559

POSITION

:

DIRECTOR

DATE OF APPT

:

01/10/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6868607E

 

 

KEY PERSONNEL PROFILE

 

Name:

JEFFREY GONDOBINTORO

NRIC Number:

F2226456R

Available Address:

33 TANGLIN ROAD #10-09 ST REGIS RESIDENCES SINGAPORE  SINGAPORE 247913

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

GMG GLOBAL LTD

DIRECTOR

09/09/2003

-

-

2

GMG INVESTMENT (S) PTE LTD

DIRECTOR

28/01/1994

-

-

3

GMG INVESTMENT (S) PTE LTD

MANAGING DIRECTOR

02/01/1998

-

-

4

PANNINDO LAND PTE LTD

DIRECTOR

26/05/1999

-

-

 

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 are no bank charges registered against Subject by its bankers.

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

21/04/2011

Date of Last AR

:

20/05/2011

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

418,855,163

130.24

181,919,329

246,520,166

167,232,148

183,737,036

Profit/(Loss) Before Tax

10,151,657

1,865.85

516,401

21,918,728

14,859,886

23,438,172

Profit After Tax attributable to Shareholders

8,608,747

733.74

1,032,543

19,738,253

14,481,408

19,895,931

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

173,086,306

-3.67

179,682,222

169,041,612

158,748,544

148,799,699

Current Assets

119,337,476

13.42

105,216,155

89,219,862

73,551,403

61,503,833

Non Current Assets

53,748,830

-27.82

74,466,067

79,821,750

85,197,141

87,295,866

 

 

 

 

 

 

 

Total Liabilities

114,775,808

10.17

104,184,350

86,677,012

79,101,058

73,437,102

Current Liabilities

114,451,201

10.14

103,910,901

84,905,296

77,847,572

71,144,343

Non Current Liabilities

324,607

18.71

273,449

1,771,716

1,253,486

2,292,759

 

 

 

 

 

 

 

Shareholders' Funds

58,310,498

-22.77

75,497,875

82,364,599

79,647,485

75,362,597

Share Capital

44,613,114

-6.49

47,709,278

46,261,475

49,266,131

51,944,262

Total Reserves

13,697,383

-50.71

27,788,597

36,103,124

30,381,354

23,418,335

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

130.24

-26.21

47.41

-8.98

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.06

0.57

8.01

8.66

10.83

Return on Equity (%)

14.76

1.37

23.96

18.18

26.40

Return on Assets (%)

4.97

0.57

11.68

9.12

13.37

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.97

1.38

1.05

0.99

0.97

Current Debt/Equity (Times)

1.96

1.38

1.03

0.98

0.94

Long Term Debt To Equity (Times)

0.01

0.00

0.02

0.02

0.03

Total Asset To Total Equity (Times)

2.97

2.38

2.05

1.99

1.97

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.42

1.01

1.46

1.05

1.23

Fixed Assets Turnover (Times)

7.79

2.44

3.09

1.96

2.10

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.04

1.01

1.05

0.94

0.86

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 22.88% (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 2.06 per cent in FY10 (FY09: 0.57 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.02 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.04 times in FY10 (FY09: 1.01 times). This means that the company has SINGAPORE, DOLLARS 1.04 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 1.97 times in FY10, as compared with 1.38 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.97 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 14.76 per cent for Subject in the current financial period, as compared to 1.37 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 4.97 per cent (FY09: 0.57 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 2.42 times in FY10 (FY09: 1.01 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.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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.