MIRA INFORM REPORT

 

 

Report Date :

08.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BILCARE TECHNOLOGIES SINGAPORE PTE. LTD.

 

 

Formerly Known As :

SINGULAR ID PTE. LTD.

 

 

Registered Office :

52 Changi South Street 1 King Wai Industrial Building Singapore 486161

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011 (Group)

31.03.2009 (Company)

 

 

Date of Incorporation :

24.12.2004

 

 

Com. Reg. No.:

200416616N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Research and experimental development on electronics

Development of electronic sys for secure tracking and authentication of items

 

 

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 – March 31st, 2012

 

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

 

 

Company Name:

Registered Number:

BILCARE TECHNOLOGIES SINGAPORE PTE. LTD.

200416616N

 

Date Incorporated:

Registered Office:

Telephone Number:

24/12/2004

52 CHANGI SOUTH STREET 1 KING WAI INDUSTRIAL BUILDING SINGAPORE 486161

67867484

Age of Company:

Website:

Industry Type:

8

NA

MANUFACTURING

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

NA

 

71

 

Better than last month; last month the entity took 41 days to pay

No. of Charges(s):
0

 

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

BILCARE SINGAPORE PTE. LIMITED

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

BILCARE TECHNOLOGIES SINGAPORE PTE. LTD.

Registration No

:

200416616N

Date of Registration

:

24/12/2004

Former Name

:

SINGULAR ID PTE. LTD. Eff. date : 24/12/2004 Eff. date : 24/12/2004

Date of Change of Name

:

22/01/2009

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

52 CHANGI SOUTH STREET 1 KING WAI INDUSTRIAL BUILDING SINGAPORE 486161

Date of Change of Address

:

01/03/2009

Contact No.

:

67867484

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. RESEARCH AND EXPERIMENTAL DEVELOPMENT ON ELECTRONICS

DEVELOPMENT OF ELECTRONIC SYS FOR SECURE TRACKING AND AUTHENTICATION OF ITEMS

2. OTHER INFORMATION TECHNOLOGY AND COMPUTER SERVICE ACTIVITIES (EG DISASTER RECOVERY SERVICES)

DATABASE DEVELOPMENT AND STORAGE SERVICE

Issued Ordinary Capital*

:

$7,014,750.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 125,000

Issued Preference Capital

:

$1,205,326.40 SINGAPORE, DOLLARS NO. OF SHARE : 41,118

Paid-Up Ordinary Capital

:

$7,014,750.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

$1,205,326.40 SINGAPORE, DOLLARS

* 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

:

SINGAPORE ASSURANCE PAC

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 334,445.00 (FY2011)

Net Worth

:

SGD - SIN 5,354,271.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

32.55% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

BILCARE SINGAPORE PTE. LIMITED

SHAREHOLDER ID

:

200209840Z

NATIONALITY

:

SINGAPORE

ADDRESS

:

52 CHANGI SOUTH STREET 1 KING WAI INDUSTRIAL BUILDING SINGAPORE 486161

NO. OF ORD SHARES

:

100,000

37,214

41,118

% OF SHAREHOLDING

:

49.2%

18.3%

20.2%

CURRENCY

:

SINGAPORE, DOLLARSSINGAPORE, DOLLARSSINGAPORE, DOLLARS

 

NAME

:

ZENTAI INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200920247D

NATIONALITY

:

SINGAPORE

ADDRESS

:

9 RHU CROSS #12-05 COSTA RHU SINGAPORE 437436

NO. OF ORD SHARES

:

25,000

% OF SHAREHOLDING

:

12.3%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RAHUL GOPIKISAN BHARADIA

ADDRESS

:

22 BAYSHORE ROAD #05-04 THE BAYSHORE SINGAPORE 469970

POSITION

:

DIRECTOR

DATE OF APPT

:

18/02/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G5856485R

 

NAME

:

ONG LIAN KIN ESTHER

ADDRESS

:

5 JALAN ISHAK SINGAPORE 419321

POSITION

:

SECRETARY

DATE OF APPT

:

03/03/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1126307J

 

NAME

:

MOHAN HARAKCHAND BHANDARI

ADDRESS

:

FLAT NO. 604, MANTRI LOUNGE, ANAND PARK PUNE - 411 007

POSITION

:

DIRECTOR

DATE OF APPT

:

18/02/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1576076

 

 

KEY PERSONNEL PROFILE

 

Name:

RAHUL GOPIKISAN BHARADIA

NRIC Number:

G5856485R

Available Address:

22 BAYSHORE ROAD #05-04 THE BAYSHORE  SINGAPORE 469970

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

BILCARE SINGAPORE PTE. LIMITED

DIRECTOR

01/08/2008

-

-

2

BILCARE TECHNOLOGIES SINGAPORE PTE. LTD.

DIRECTOR

18/02/2008

-

-

 

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.

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

:

22/09/2011

Date of Last AR

:

20/10/2011

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

Group

 

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

334,445

72.84

193,503

132,968

112,529

108,349

Profit/(Loss) Before Tax

(2,997,830)

NA

(1,447,580)

(452,449)

(385,269)

(379,306)

Profit After Tax attributable to Shareholders

(2,997,830)

NA

(1,488,679)

(439,350)

(282,179)

(439,991)

 

 

 

 

 

 

 

Balance Sheet Key Figures

11,748,239

-25.67

15,804,680

9,299,517

3,530,561

561,898

Total Assets

595,047

-92.19

7,616,105

5,047,309

1,693,637

540,555

Current Assets

11,153,192

36.20

8,188,575

4,252,208

1,836,924

21,343

Non Current Assets

 

 

 

 

 

 

 

6,393,968

-14.21

7,453,383

6,460,770

246,314

290,751

Total Liabilities

3,190,143

15.57

2,760,380

2,372,447

246,314

212,173

Current Liabilities

3,203,825

-31.73

4,693,003

4,088,323

0

78,578

Non Current Liabilities

 

 

 

 

 

 

 

5,354,271

-35.89

8,351,297

2,838,747

3,284,247

271,147

Shareholders' Funds

3,628,958

0.00

3,628,958

3,628,958

3,628,958

902,375

Share Capital

1,725,313

-63.46

4,722,339

(792,273)

(348,309)

(641,124)

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

72.84

45.53

18.16

3.86

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

NA

NA

NA

NA

NA

Return on Equity (%)

NA

NA

NA

NA

NA

Return on Assets (%)

NA

NA

NA

NA

NA

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.19

0.89

2.28

0.07

1.07

Current Debt/Equity (Times)

0.60

0.33

0.84

0.07

0.78

Long Term Debt To Equity (Times)

0.60

0.56

1.44

NA

0.29

Total Asset To Total Equity (Times)

2.19

1.89

3.28

1.07

2.07

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.03

0.01

0.01

0.03

0.19

Fixed Assets Turnover (Times)

0.03

0.02

0.03

0.06

5.08

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.19

2.76

2.13

6.88

2.55

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2009

% Change

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

132,968

18.16

112,529

0

Profit/(Loss) Before Tax

(452,449)

NA

(385,269)

0

Profit After Tax attributable

 to Shareholders

(439,350)

NA

(282,179)

0

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

9,299,517

169.88

3,445,838

325,386

Current Assets

5,047,309

198.02

1,693,637

275,970

Non Current Assets

4,252,208

131.49

1,836,924

49,416

 

 

 

 

 

Total Liabilities

6,460,770

3,650.51

172,264

148,528

Current Liabilities

2,372,447

863.18

246,314

148,528

Non Current Liabilities

4,088,323

NA

0

0

 

 

 

 

 

Shareholders' Funds

2,838,747

-13.56

3,284,247

176,858

Share Capital

3,628,958

0.00

3,628,958

902,375

Total Reserves

(790,211)

NA

(344,711)

725,517

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

Year-on-Year Growth

18.16

NA

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-330.42

-250.76

0.00

Return on Equity (%)

-15.48

-8.59

0.00

Return on Assets (%)

-4.72

-8.19

0.00

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

2.28

0.05

0.84

Current Debt/Equity (Times)

0.84

0.07

0.84

Long Term Debt To Equity (Times)

1.44

0.00

0.00

Total Asset To Total Equity (Times)

3.28

1.05

1.84

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

0.01

0.03

0.00

Fixed Assets Turnover (Times)

0.03

0.06

0.00

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

2.13

6.88

1.86

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 32.55% (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

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 0.19 times in FY11 (FY10: 2.76 times). This means that the group has SGD - SIN 0.19 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 1.19 times in FY11, as compared with 0.89 times in FY10. This means that the group requires additional external financing of SGD - SIN 1.19 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

 

 

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 0.03 times in FY11 (FY10: 0.01 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.55.50

UK Pound

1

Rs.86.40

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.