MIRA INFORM REPORT

 

 

Report Date :           

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

QMAX FAR EAST PTE. LTD.

 

 

Registered Office :

514 CHAI CHEE LANE #06-08 Singapore 469029

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

10.01.2008

 

 

Com. Reg. No.:

200800828R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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 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

 

Company Name:

Registered Number:

QMAX FAR EAST PTE. LTD.

200800828R

 

Date Incorporated:

Registered Office:

Telephone Number:

10/01/2008

514 CHAI CHEE LANE #06-08 SINGAPORE 469029

NA

Age of Company:

Website:

Industry Type:

4

NA

NA

 

Credit Assessment

 

 

Risk Dashboard

Risk & Rating

Days Beyond Terms

Trend:

No. of Litigation Counts:

Recommended Credit Line:

Company DTC:

NA

No Recommendation

NA

 

The entity is paying current to the creditors

No. of Charges(s):
0

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

Q MAX TEST EQUIPMENTS PRIVATE LIMITED

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

QMAX FAR EAST PTE. LTD.

Registration No

:

200800828R

Date of Registration

:

10/01/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

514 CHAI CHEE LANE #06-08 SINGAPORE 469029

Date of Change of Address

:

10/01/2008

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

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

2. MANUFACTURE OF PRINTED CIRCUIT BOARDS WITH ELECTRONIC PARTS (EXCLUDE CONTRACT MANUFACTURERS)

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS , NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

SAW MENG TEE & PARTNERS PAC

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 1,435,196.00 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 118,248.00 (FY2011)

No. of Bank Charges

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

Q MAX TEST EQUIPMENTS PRIVATE LIMITED

SHAREHOLDER ID

:

T08UF0575B

NATIONALITY

:

INDIA

ADDRESS

:

6, ELCOT AVENUE, I.T. HIGHWAY SHOLINGANALLUR, CHENNAI INDIA

NO. OF ORD SHARES

:

60,000

% OF SHAREHOLDING

:

60%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHIA CHOR YAM @CHIA CY

SHAREHOLDER ID

:

S0092696E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

166 LENTOR LOOP #09-01 BULLION PARK SINGAPORE 789097

NO. OF ORD SHARES

:

40,000

% OF SHAREHOLDING

:

40%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KOH HUI LIAK

ADDRESS

:

842 SIMS AVENUE #10-764 SINGAPORE 400842

POSITION

:

SECRETARY

DATE OF APPT

:

10/01/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0059247A

 

NAME

:

SREENIVASAN RATHINA SABAPATHI

ADDRESS

:

3/135 V.V.V.SALAI, UTHANDI, EAST COAST RD CHENNAI 119 INDIA 600119

POSITION

:

DIRECTOR

DATE OF APPT

:

10/01/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2580275F

 

NAME

:

CHIA MU MAO, KENNETH

ADDRESS

:

166 LENTOR LOOP #09-01 BULLION PARK SINGAPORE 789097

POSITION

:

DIRECTOR

DATE OF APPT

:

02/11/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S8407054H

 

 

KEY PERSONNEL PROFILE

 

Name:

SREENIVASAN RATHINA SABAPATHI

NRIC Number:

S2580275F

Available Address:

3/135 V.V.V.SALAI, UTHANDI, EAST COAST RD CHENNAI 119 INDIA 600119

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

QMAX FAR EAST PTE. LTD.

DIRECTOR

10/01/2008

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

QTEST TECHNOLOGIES PTE. LTD.

LIVE COMPANY

DIRECTOR/SHR

23/04/1992

11/07/2012

 

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.

Transfer

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

:

28/09/2011

Date of Last AR

:

28/09/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

MAR 2009

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

Turnover

1,435,196

-11.83

1,627,715

891,933

Profit/(Loss) Before Tax

(3,447)

NA

26,135

(4,440)

Profit After Tax attributable

 to Shareholders

(3,447)

NA

26,135

(4,440)

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

376,919

9.69

343,636

169,001

Current Assets

353,215

14.65

308,080

109,533

Non Current Assets

23,704

-33.33

35,556

59,468

 

 

 

 

 

Total Liabilities

258,671

16.55

221,941

73,441

Current Liabilities

258,671

16.55

221,941

73,441

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

118,248

-2.83

121,695

95,560

Share Capital

100,000

0.00

100,000

100,000

Total Reserves

18,248

-15.89

21,695

(4,440)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

Year-on-Year Growth

-11.83

82.49

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-0.24

1.61

-0.50

Return on Equity (%)

-2.92

21.48

-4.65

Return on Assets (%)

-0.91

7.61

-2.63

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

2.19

1.82

0.77

Current Debt/Equity (Times)

2.19

1.82

0.77

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

3.19

2.82

1.77

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

3.81

4.74

5.28

Fixed Assets Turnover (Times)

60.55

45.78

15.00

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.37

1.39

1.49

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

Liquidity

 

Current ratio stood at 1.37 times in FY11 (FY10: 1.39 times). This means that the company has SINGAPORE, DOLLARS 1.37 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 2.19 times in FY11, compared with 1.82 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.19 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

 

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

 

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

 

Total assets turnover ratio logged at 3.81 times in FY11 (FY10: 4.74 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.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.