MIRA INFORM REPORT

 

 

Report Date :

12.04.2012

 

IDENTIFICATION DETAILS

 

Name :

DYNAMIC ELECTRONICS CO. (S) PTE. LTD.

 

 

Registered Office :

203 Henderson Road #06-03b Henderson Industrial Park Singapore 159546

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

14.07.2006

 

 

Com. Reg. No.:

200610331K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters) Importers & Exporters For Electronic Components Etc

 

 

No. of Employees :

Not Available

 

 

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$363,000

Status :

Satisfactory

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 30, 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

:

DYNAMIC ELECTRONICS CO. (S) PTE. LTD.

Registration No

:

200610331K

Date of Registration

:

14/07/2006

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

203 HENDERSON ROAD #06-03B HENDERSON INDUSTRIAL PARK SINGAPORE 159546

Date of Change of Address

:

01/11/2011

Contact No.

:

62765188

Fax No.

:

NA

Website

:

NA

Registered Activities

:

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

IMPORTERS & EXPORTERS FOR ELECTRONIC COMPONENTS ETC

2. OTHER PERSONAL SERVICE ACTIVITIES NEC

COMMISSION AGENTS, MANUFACTUERES FOR ELECTRONIC COMPONENTS ETC

Issued Ordinary Capital*

:

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

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$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

:

NA

No. of Local Associates

:

NA

Auditor

:

EHC GOH & COMPANY

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 6,043,903.30 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 1,815,378.66 (FY2011)

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)

:

56.74% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$363,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

DYNAMIC ELECTRONICS CO LTD

SHAREHOLDER ID

:

T06UF2495D

NATIONALITY

:

MARSHALL ISLANDS

ADDRESS

:

TRUST COMPANY COMPLEX, AJELTAKE ROAD, AJELTAKE ISLAND, MAJURO, MARSHALL ISLANDS MH96960

NO. OF ORD SHARES

:

198,000

% OF SHAREHOLDING

:

99%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TAN TENG LIANG

SHAREHOLDER ID

:

S1736441C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

11D MOUNT SINAI LANE #01-15 GLENTREES SINGAPORE 277053

NO. OF ORD SHARES

:

2,000

% OF SHAREHOLDING

:

1%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

TAN TENG LIANG

ADDRESS

:

11D MOUNT SINAI LANE #01-15 GLENTREES SINGAPORE 277053

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1736441C

 

NAME

:

SIM SAI LIN

ADDRESS

:

57 JALAN KERUING SELETAR HILLS ESTATE SINGAPORE 808977

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2034230G

 

NAME

:

LIM WAN HUI

ADDRESS

:

11D MOUNT SINAI LANE #01-15 GLENTREES SINGAPORE 277053

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7227128I

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TAN TENG LIANG

NRIC Number:

S1736441C

Available Address:

11D MOUNT SINAI LANE #01-15 GLENTREES  SINGAPORE 277053

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DYNAMIC ELECTRONICS CO. (S) PTE. LTD.

DIRECTOR

01/03/2007

2000

1.00

2

PARADISE ON EARTH PTE. LTD.

DIRECTOR

09/05/2002

124020

41.34

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

DAT ELECTRONICS

CEASED

OWNER

28/05/1996

-

2

TECHWISE CIRCUITS PTE LTD

LIVE COMPANY

DIRECTOR/SHR

27/03/1997

28/09/2011

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

 

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.

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

28/10/2011

Date of Last AR

:

25/11/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

 FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

6,043,903

45.98

4,140,274

4,236,084

5,752,115

1,001,452

Profit/(Loss) Before Tax

1,782,767

28.84

1,383,663

1,084,015

1,579,030

262,768

Profit After Tax attributable to Shareholders

1,507,912

28.89

1,169,892

931,126

1,304,929

220,168

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

3,049,913

15.65

2,637,086

2,036,683

2,256,581

890,913

Current Assets

3,038,214

16.19

2,614,891

2,010,888

2,225,019

869,913

Non Current Assets

11,698

-47.29

22,195

25,795

31,561

21,000

 

 

 

 

 

 

 

Total Liabilities

1,234,534

5.79

1,167,015

835,017

734,574

543,291

Current Liabilities

1,234,534

5.79

1,167,015

835,017

734,574

543,291

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

1,815,379

23.49

1,470,071

1,201,666

1,522,007

347,622

Share Capital

169,259

-6.82

181,640

183,833

187,421

127,454

Total Reserves

1,646,120

27.76

1,288,431

1,017,833

1,334,586

(220,168)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

45.98

-2.26

-26.36

474.38

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

24.95

28.26

21.98

22.69

21.98

Return on Equity (%)

83.06

79.58

77.49

85.74

63.34

Return on Assets (%)

49.44

44.36

45.72

57.83

24.71

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.68

0.79

0.69

0.48

1.56

Current Debt/Equity (Times)

0.68

0.79

0.69

0.48

1.56

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.68

1.79

1.69

1.48

2.56

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.98

1.57

2.08

2.55

1.12

Fixed Assets Turnover (Times)

516.65

186.54

164.22

182.25

47.69

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.46

2.24

2.41

3.03

1.60

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 56.74% (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 24.95 per cent in FY11 (FY10: 28.26 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.25 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.28 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.46 times in FY11 (FY10: 2.24 times). This means that the company has SINGAPORE, DOLLARS 2.46 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

 

FINANCIAL COMMENTARY

 

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 0.68 times in FY11, as compared with 0.79 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.68 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 83.06 per cent for Subject in the current financial period, as compared to 79.58 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.

 

 

FINANCIAL COMMENTARY

 

Return on assets stood at 49.44 per cent (FY10: 44.36 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 1.98 times in FY11 (FY10: 1.57 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.51.54

UK Pound

1

Rs.81.94

Euro

1

Rs.67.56

 

 

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.