MIRA INFORM REPORT

 

 

Report Date :

15.09.2011

 

IDENTIFICATION DETAILS

 

Name :

AMTEL INVESTMENT HOLDINGS PTE LTD

 

 

Registered Office :

7500A Beach Road #16-324 The Plaza 199591

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

20.12.2001

 

 

Com. Reg. No.:

200108091W

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Other investment holding companies

General wholesale trade (including general importers and exporters)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

S$508,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Exists

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

name of the company

 

AMTEL INVESTMENT HOLDINGS PTE LTD

 

 

Executive Summary

 

Company Name

:

AMTEL INVESTMENT HOLDINGS PTE LTD

Registration No

:

200108091W

Date of Registration

:

20/12/2001

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

7500A BEACH ROAD #16-324 THE PLAZA SINGAPORE 199591

Date of Change of Address

:

02/09/2008

Contact No.

:

6396 3911

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

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

Issued Ordinary Capital*

:

$3,200,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,200,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,200,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

SASHI KALA DEVI ASSOCIATES

Bankers / Financiers

:

THE BANK OF EAST ASIA LIMITED

CITIBANK N.A.

Turnover

:

SGD - SIN 266,938,429.00

Net Worth

:

SGD - SIN 5,077,933.00

No. of Bank Charges

:

2

No. of Litigation Suits

:

3

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$508,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

SUMEER MAHAJAN

SHAREHOLDER ID

:

S2648468E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

6 PEACH GARDEN #19-08 PEACH GARDEN SINGAPORE 437606

NO. OF ORD SHARES

:

3,200,000

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHENG LIAN SIANG

ADDRESS

:

7 SIN MING WALK #20-17 GARDENS AT BISHAN, THE SINGAPORE 575577

POSITION

:

SECRETARY

DATE OF APPT

:

02/12/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1519832Z

 

NAME

:

SUMEER MAHAJAN

ADDRESS

:

6 PEACH GARDEN #19-08 PEACH GARDEN SINGAPORE 437606

POSITION

:

DIRECTOR

DATE OF APPT

:

03/01/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2648468E

 

 

 

KEY PERSONNEL PROFILE

 

Name:

SUMEER MAHAJAN

NRIC Number:

S2648468E

Available Address:

6 PEACH GARDEN #19-08 PEACH GARDEN  SINGAPORE 437606

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AMTEL EXPORTS PTE LTD

DIRECTOR

29/11/2005

4900000

49.00

2

AMTEL INVESTMENT HOLDINGS PTE LTD

DIRECTOR

03/01/2002

2500000

100.00

3

AMTEL VENTURES PTE LTD

DIRECTOR

23/11/1993

1099999

73.33

4

NEWLINE AGENCIES PTE LTD

DIRECTOR

25/10/1996

99999

99.99

5

SINOCHEM PTE. LTD.

DIRECTOR

01/06/2006

-

-

6

SOLITAIRE VENTURES PTE. LTD.

DIRECTOR

26/09/2006

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BAHTCOAMTEL PTE. LTD.

STRUCK OFF

DIRECTOR

04/04/2002

05/06/2008

2

CONPACIN (S) PTE LTD

STRUCK OFF

DIRECTOR

14/02/1997

10/09/2005

3

CONPACIN (S) PTE LTD

STRUCK OFF

SECRETARY

28/07/2004

10/09/2005

4

CORPORATE PHYSICIANS INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

28/02/2001

-

5

CORPORATE PHYSICIANS PTE LTD

STRUCK OFF

DIRECTOR

19/09/2001

24/02/2006

6

MEDICBASE PTE LTD

STRUCK OFF

DIRECTOR

19/09/2001

24/02/2006

7

NETMD.ASIA PTE LTD

STRUCK OFF

DIRECTOR

19/09/2001

24/02/2006

8

TECHAM IMPEX PTE LTD

LIVE COMPANY

DIRECTOR

18/05/1993

08/06/2000

 

KEY PERSONNEL PROFILE

 

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 (%)

SINOCHEM PTE. LTD.

100

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200805385

 

Date of Registration

:

16/06/2008

 

Chargee

:

THE BANK OF EAST ASIA LIMITED

 

2)

Charge No.

:

C200800215

 

Date of Registration

:

07/01/2008

 

Chargee

:

CITIBANK N.A.

 

             

 

 

 

 

 

LITIGATION

 

The following litigation suits were traced against Subject.

 

To date, there have been 3 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2009

Past Years

W.e.f 01 Jan 2009

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

2

High (>$250,000)

1

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

3011

 

Date of Filing

:

13/09/2007

 

Amount

:

127,376.00

 

Cause

:

Contract - Sale Of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

JANN JIAR RUBBER PTE LTD

 

2)

Court

:

District Court

 

Case No.

:

3175

 

Date of Filing

:

27/09/2007

 

Amount

:

MYR 608.11

USD 38,880.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KOTA TRADING CO., SDN BHD

 

3)

Court

:

Supreme Court

 

Case No.

:

171

 

Date of Filing

:

20/02/2009

 

Amount

:

245,516.98

 

Cause

:

Contract - Sale of Goods & Services

 

Case Status

:

PENDING

 

Plaintiff

:

REGIONAL RUBBER TRADING CO. PTE LTD

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

13/03/2009

Date of Last AR

:

13/04/2009

Date of A/C Laid At Last AGM

:

31/03/2008
 
 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2007

% Change

MAR 2006

MAR 2005

MAR 2004

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

 

Profit and Loss Key Figures

 

 

 

 

 

Turnover

266,938,429

27.34

209,628,061

195,831,287

0

Profit/(Loss) Before Tax

1,830,996

NA

(697,003)

2,284,295

0

Profit After Tax attributable to Shareholders

1,533,836

NA

(724,374)

1,879,587

0

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

82,495,032

32.89

62,076,385

73,814,546

0

Current Assets

82,409,363

33.07

61,930,295

73,711,458

0

Non Current Assets

85,669

-41.36

146,090

103,088

0

 

 

 

 

 

 

Total Liabilities

77,417,099

32.79

58,300,876

68,818,840

0

Current Liabilities

77,393,943

32.76

58,295,625

68,818,187

0

Non Current Liabilities

23,156

340.98

5,251

653

0

 

 

 

 

 

 

Shareholders' Funds

5,077,933

34.50

3,775,510

4,995,706

0

Share Capital

2,327,778

-6.17

2,480,842

2,499,866

0

Total Reserves

2,750,155

112.42

1,294,668

2,495,840

0

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2007

MAR 2006

MAR 2005

MAR 2004

Growth %

 

 

 

 

Year-on-Year Growth

27.34

7.05

NA

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.57

NA

0.96

NA

Return on Equity (%)

30.21

NA

37.62

NA

Return on Assets (%)

1.86

NA

2.55

NA

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

15.25

15.44

13.78

NA

Current Debt/Equity (Times)

15.24

15.44

13.78

NA

Long Term Debt To Equity (Times)

0.00

0.00

0.00

NA

Total Asset To Total Equity (Times)

16.25

16.44

14.78

NA

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.24

3.38

2.65

NA

Fixed Assets Turnover (Times)

3,115.93

1,434.92

1,899.65

NA

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.06

1.06

1.07

NA

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2007

% Change

MAR 2006

MAR 2005

MAR 2004

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

259,792,141

29.30

200,928,359

188,907,057

27,169,810

Profit/(Loss) Before Tax

1,973,344

534.42

311,047

2,459,327

799,972

Profit After Tax attributable to Shareholders

1,726,317

455.00

311,047

2,058,527

651,020

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

83,446,345

32.02

63,208,457

73,471,697

18,729,490

Current Assets

82,835,408

32.42

62,557,394

72,808,724

18,688,594

Non Current Assets

610,937

-6.16

651,063

662,973

40,896

 

 

 

 

 

 

Total Liabilities

77,070,018

32.30

58,253,492

68,306,296

17,099,784

Current Liabilities

77,070,018

32.30

58,253,492

68,306,296

17,099,784

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

6,376,327

28.69

4,954,965

5,165,401

1,629,705

Share Capital

2,327,778

-6.17

2,480,842

2,491,784

996,200

Total Reserves

4,048,549

63.64

2,474,123

2,673,617

633,505

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2007

MAR 2006

MAR 2005

MAR 2004

Growth %

 

 

 

 

Year-on-Year Growth

29.30

6.36

595.28

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.66

0.15

1.09

2.40

Return on Equity (%)

27.07

6.28

39.85

39.95

Return on Assets (%)

2.07

0.49

2.80

3.48

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

12.09

11.76

13.22

10.49

Current Debt/Equity (Times)

12.09

11.76

13.22

10.49

Long Term Debt To Equity (Times)

NA

NA

NA

NA

Total Asset To Total Equity (Times)

13.09

12.76

14.22

11.49

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.11

3.18

2.57

1.45

Fixed Assets Turnover (Times)

425.24

308.62

284.94

664.36

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.07

1.07

1.07

1.09

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 0.57 per cent in FY07. The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.06 times in FY07 (FY06: 1.06 times). This means that the group has SGD - SIN 1.06 of current assets for every SGD - SIN 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 15.25 times in FY07, compared with 15.44 times in FY06. This means that the group requires additional external financing of SGD - SIN 15.25 for every SGD - SIN 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 30.21 per cent for Subject in the current financial period. 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 1.86 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 3.24 times in FY07 (FY06: 3.38 times). This ratio measures the group'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.47.81

UK Pound

1

Rs.75.16

Euro

1

Rs.65.11

 

 

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.