MIRA INFORM REPORT

 

 

Report Date :           

29.10.2011

 

IDENTIFICATION DETAILS

 

Name :

METROTECT (S.E.A.) PTE LTD

 

 

Registered Office :

230 Orchard Road #09-234 Faber House Singapore 238854

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

09.04.199

 

 

Com. Reg. No.:

199101574h

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters)

 

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$47,000

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

:

METROTECT (S.E.A.) PTE LTD

Registration No

:

199101574H

Date of Registration

:

09/04/1991

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

230 ORCHARD ROAD #09-234 FABER HOUSE SINGAPORE 238854

Date of Change of Address

:

15/01/2002

Contact No.

:

6338 6636

Fax No.

:

6339 7360

Website

:

NA

Registered Activities

:

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

TRADING OF PIPELINE PROTECTION & OTHER ANTI-CORROSION MATERIALS

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

$10,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 10,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$10,000.00 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

:

UHY LEE SENG CHAN & CO.

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SINGAPORE, DOLLARS 9,100,267.71 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 466,428.91 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

8.01% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$47,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

VERTELLUS SPECIALTIES INC.

SHAREHOLDER ID

:

T03UF1211C

NATIONALITY

:

NA

ADDRESS

:

201 NORTH ILLINOIS STREET, STE 1800 INDIANAPOLIS, IN 46204, U.S.A.

NO. OF ORD SHARES

:

10,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

OFFICER DETAILS

 

NAME

:

QUINN, DARYL CLIFTON

ADDRESS

:

4695 WOODS EDGE DRIVE, ZIONSVILLE, IN 46077, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2007

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

214046590

 

NAME

:

GOH GUEK CHENG

ADDRESS

:

122 SELETAR TERRACE SINGAPORE 806980

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

09/04/1991

18/06/1991

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0096930C

 

NAME

:

KOH GEOK HOON (MDM)

ADDRESS

:

12 TAI HWAN TERRACE TAI HWAN GARDEN SINGAPORE 555248

POSITION

:

SECRETARY

DATE OF APPT

:

31/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0188289I

 

NAME

:

KOH EE KOON (MS)

ADDRESS

:

104 BEDOK RESERVOIR ROAD #04-362 SINGAPORE 470104

POSITION

:

SECRETARY

DATE OF APPT

:

31/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1246901B

 

 

KEY PERSONNEL PROFILE

 

Name:

GOH GUEK CHENG

NRIC Number:

S0096930C

Available Address:

122 SELETAR TERRACE  SINGAPORE 806980

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

EXCELCARE PROPERTY MAINTENANCE PTE LTD

SHAREHOLDER

-

10000

10.00

2

METROTECT (S.E.A.) PTE LTD

DIRECTOR

09/04/1991

-

-

3

METROTECT (S.E.A.) PTE LTD

MANAGING DIRECTOR

18/06/1991

-

-

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

EXCELCARE PROPERTY MAINTENANCE PTE LTD

LIVE COMPANY

DIRECTOR

01/11/2001

14/04/2011

2

NIU CHE SHUI HERBAL SOUP

TERMINATION

OWNER

08/11/1993

11/04/1996

 

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

 

1)

Charge No.

:

200205419

 

Date of Registration

:

11/12/2002

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

             

 

 

 

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/04/2011

Date of Last AR

:

23/05/2011

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

9,100,268

36.15

6,683,836

6,524,910

8,461,753

6,686,666

Profit/(Loss) Before Tax

509,609

48.96

342,115

394,671

693,353

889,670

Profit After Tax attributable to Shareholders

458,774

47.25

311,557

337,374

591,241

718,255

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,418,821

-3.85

2,515,678

1,827,938

2,140,764

1,880,942

Current Assets

2,377,739

-3.38

2,460,863

1,765,189

2,074,377

1,868,111

Non Current Assets

41,082

-25.05

54,815

62,749

66,387

12,831

 

 

 

 

 

 

 

Total Liabilities

1,952,392

-2.06

1,993,516

1,350,737

1,766,465

1,153,774

Current Liabilities

1,952,392

-2.06

1,993,516

1,350,737

1,766,465

1,153,774

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

466,429

-10.67

522,161

477,200

374,300

727,168

Share Capital

7,655

-6.49

8,187

7,938

8,454

8,913

Total Reserves

458,774

-10.74

513,974

469,262

365,846

718,255

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

36.15

2.44

-22.89

26.55

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.04

4.66

5.17

6.99

10.74

Return on Equity (%)

98.36

59.67

70.70

157.96

98.77

Return on Assets (%)

18.97

12.38

18.46

27.62

38.19

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

4.19

3.82

2.83

4.72

1.59

Current Debt/Equity (Times)

4.19

3.82

2.83

4.72

1.59

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

5.19

4.82

3.83

5.72

2.59

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.76

2.66

3.57

3.95

3.55

Fixed Assets Turnover (Times)

221.51

121.93

103.98

127.46

521.13

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.22

1.23

1.31

1.17

1.62

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 8.01% (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 5.04 per cent in FY10 (FY09: 4.66 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.05 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.05 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.22 times in FY10 (FY09: 1.23 times). This means that the company has SINGAPORE, DOLLARS 1.22 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 4.19 times in FY10, as compared with 3.82 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 4.19 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 98.36 per cent for Subject in the current financial period, as compared to 59.67 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 18.97 per cent (FY09: 12.38 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 3.76 times in FY10 (FY09: 2.66 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.