MIRA INFORM REPORT

 

 

Report Date :

14.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GLOBALTEK PROSOLUTIONS PTE. LTD.

 

 

Registered Office :

190 MIDDLE ROAD #14-01 FORTUNE CENTRE SINGAPORE 188979

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.06.2007

 

 

Com. Reg. No.:

200711524Z

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Development of Other Software and Programming Activities Nec

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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

(31.12.2011)

Current Rating

(31.03.2012)

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

:

GLOBALTEK PROSOLUTIONS PTE. LTD.

Registration No

:

200711524Z

Date of Registration

:

27/06/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

190 MIDDLE ROAD #14-01 FORTUNE CENTRE SINGAPORE 188979

Date of Change of Address

:

06/04/2011

Contact No.

:

6338 7285

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. DEVELOPMENT OF OTHER SOFTWARE AND PROGRAMMING ACTIVITIES NEC

SOFTWARE DEVELOPMENT, TRAINING AND CONSULTING SERVICES

2. EXECUTIVE SEARCH SERVICES

EXECUTIVE SEARCH AGENCIES

Issued Ordinary Capital*

:

$600,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 600,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$600,000.00 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 0.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (135,108.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No records found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

BOGA MURALI KRISHNA

SHAREHOLDER ID

:

424598847

NATIONALITY

:

AMERICAN

ADDRESS

:

VILLA 17, VASANTA VALLEY, WHITE FIELDS, KONDAPUR, HYDERABAD, ANDHRA PRADESH, INDIA 50081

NO. OF ORD SHARES

:

544,995

% OF SHAREHOLDING

:

90.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SRIKANTH VELAGA

SHAREHOLDER ID

:

A7679596

NATIONALITY

:

INDIAN

ADDRESS

:

108 FINCH ROAD, RINGWOOD, NJ 07456 USA

NO. OF ORD SHARES

:

44,004

% OF SHAREHOLDING

:

7.3%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

RENICK SPENCER CHUA

SHAREHOLDER ID

:

S2200834Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

18 LORONG 7 TOA PAYOH #11-242 SINGAPORE 310018

NO. OF ORD SHARES

:

11,001

% OF SHAREHOLDING

:

1.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

BOGA MURALI KRISHNA

ADDRESS

:

VILLA 17, VASANTA VALLEY, WHITE FIELDS, KONDAPUR, HYDERABAD, ANDHRA PRADESH, INDIA 50081

POSITION

:

DIRECTOR

DATE OF APPT

:

27/06/2007

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

424598847

 

NAME

:

RENICK SPENCER CHUA

ADDRESS

:

18 LORONG 7 TOA PAYOH #11-242 SINGAPORE 310018

POSITION

:

DIRECTOR

DATE OF APPT

:

27/06/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2200834Z

 

NAME

:

NG WAN SIN

ADDRESS

:

312 UBI AVENUE 1 #02-441 SINGAPORE 400312

POSITION

:

SECRETARY

DATE OF APPT

:

27/12/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S8719213Z

 

 

 

KEY PERSONNEL PROFILE

 

Name:

BOGA MURALI KRISHNA

NRIC Number:

424598847

Available Address:

VILLA 17, VASANTA VALLEY, WHITE FIELDS, KONDAPUR, HYDERABAD, ANDHRA PRADESH, INDIA 50081

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

EGG STORY STUDIOS PTE. LTD.

DIRECTOR

28/12/2011

500

50.00

2

GLOBALTEK PROSOLUTIONS PTE. LTD.

DIRECTOR

27/06/2007

55005

50.00

3

HATCH ANIMATION AND PRODUCTION STUDIOS PTE. LTD.

DIRECTOR

08/08/2011

35000

35.00

4

QUENCH SOFT SOLUTIONS PTE. LTD.

DIRECTOR

14/04/2011

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

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.

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

29/07/2011

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

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

Turnover

0

NA

0

0

0

Profit/(Loss) Before Tax

(2,217)

NA

(7,974)

(205,241)

(29,667)

Profit After Tax attributable to Shareholders

(2,217)

NA

(7,974)

(205,241)

(29,667)

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

0

-100.00

152

4,738

5,503

Current Assets

0

NA

0

2,843

5,019

Non Current Assets

0

-100.00

152

1,895

484

 

 

 

 

 

 

Total Liabilities

135,108

1.55

133,043

129,655

35,160

Current Liabilities

135,108

1.55

133,043

129,655

35,160

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

(135,108)

NA

(132,891)

(124,917)

(29,657)

Share Capital

110,010

0.00

110,010

110,010

10

Total Reserves

(245,118)

NA

(242,901)

(234,927)

(29,667)

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

Year-on-Year Growth

NA

NA

NA

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.00

0.00

0.00

0.00

Return on Equity (%)

1.64

6.00

164.30

100.03

Return on Assets (%)

0.00

-5,246.05

-4,331.81

-539.11

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

-1.00

-1.00

-1.04

-1.19

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

0.00

0.00

-0.04

-0.19

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

0.00

0.00

0.00

0.00

Fixed Assets Turnover (Times)

0.00

0.00

0.00

0.00

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

0.00

0.00

0.02

0.14

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

We are unable to comment on Subject's liquidity.

 

 

FINANCIAL COMMENTARY

 

Leverage

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

Return on equity was 1.64 per cent for Subject in the current financial period, as compared to 6.00 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.

 

We are unable to comment on Subject's return on assets.

 

We are unable to comment on Subject's total assets turnover ratio.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.41

UK Pound

1

Rs.81.93

Euro

1

Rs.67.66

 

 

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.