MIRA INFORM REPORT

 

 

Report Date :           

29.10.2011

 

IDENTIFICATION DETAILS

 

Name :

MOSSMAN TECHNOLOGIES PTE. LTD.

 

 

Registered Office :

101 Upper Cross Street #05-11 People's Park Centre Singapore 058357

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.06.2005

 

 

Com. Reg. No.:

200508133m

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Research and Experimental Development on Electronics

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

:

MOSSMAN TECHNOLOGIES PTE. LTD.

Registration No

:

200508133M

Date of Registration

:

14/06/2005

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

101 UPPER CROSS STREET #05-11 PEOPLE'S PARK CENTRE SINGAPORE 058357

Date of Change of Address

:

01/11/2010

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. RESEARCH AND EXPERIMENTAL DEVELOPMENT ON ELECTRONICS

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

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

:

NA

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 31,785.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 242.00 (FY2010)

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

:

No Recommendation

 

 

SHAREHOLDER DETAILS

 

NAME

:

LAI SU KWAN

SHAREHOLDER ID

:

S8237838C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

32 BEDOK SOUTH AVENUE 2 #25-313 SINGAPORE 460032

NO. OF ORD SHARES

:

7,000

% OF SHAREHOLDING

:

70%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEW KIAN HUA

SHAREHOLDER ID

:

S6928209A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

306 JURONG EAST STREET 32 #04-192 SINGAPORE 600306

NO. OF ORD SHARES

:

3,000

% OF SHAREHOLDING

:

30%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

LAI SU KWAN

ADDRESS

:

32 BEDOK SOUTH AVENUE 2 #25-313 SINGAPORE 460032

POSITION

:

DIRECTOR

DATE OF APPT

:

28/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S8237838C

 

 

KEY PERSONNEL PROFILE

 

Name:

LAI SU KWAN

NRIC Number:

S8237838C

Available Address:

934 TAMPINES STREET 91 #16-349  SINGAPORE 520934

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

LEDECO SINGAPORE PTE. LTD.

SHAREHOLDER

-

1

20.00

2

MOSSMAN TECHNOLOGIES PTE. LTD.

DIRECTOR

28/03/2007

7000

70.00

 

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

M

5379

2002

07/03/2002

 -

Negligence Related

 

 

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

:

30/06/2011

Date of Last AR

:

03/08/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2006

DEC 2005

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

Turnover

31,785

-91.17

359,898

643,120

68,747

Profit/(Loss) Before Tax

22,092

NA

(38,415)

(403)

(6,820)

Profit After Tax attributable to Shareholders

22,092

NA

(38,415)

(403)

(6,820)

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

9,380

-93.68

148,499

178,128

10,667

Current Assets

8,980

-93.92

147,699

178,128

10,667

Non Current Assets

400

-50.00

800

0

0

 

 

 

 

 

 

Total Liabilities

9,138

-94.64

170,349

175,351

7,487

Current Liabilities

9,138

-94.64

170,349

175,351

7,487

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

242

NA

(21,850)

2,777

3,180

Share Capital

10,000

0.00

10,000

10,000

10,000

Total Reserves

(9,758)

NA

(31,850)

(7,223)

(6,820)

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2006

DEC 2005

Growth %

 

 

 

 

Year-on-Year Growth

-91.17

NA

835.49

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

69.50

-10.67

-0.06

-9.92

Return on Equity (%)

9,128.93

175.81

-14.51

-214.47

Return on Assets (%)

235.52

-25.87

-0.23

-63.94

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

37.76

-7.80

63.14

2.35

Current Debt/Equity (Times)

37.76

0.00

63.14

2.35

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

38.76

-6.80

64.14

3.35

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.39

2.42

3.61

6.44

Fixed Assets Turnover (Times)

79.46

449.87

0.00

0.00

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

0.98

0.87

1.02

1.42

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 69.50 per cent in FY10. The company is now able to book in SINGAPORE, DOLLARS 0.70 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 0.98 times in FY10 (FY09: 0.87 times). This means that the company has SINGAPORE, DOLLARS 0.98 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 at 37.76 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 37.76 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 9,128.93 per cent for Subject in the current financial period, as compared to 175.81 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 235.52 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 3.39 times in FY10 (FY09: 2.42 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.