MIRA INFORM REPORT

 

 

Report Date :

24.08.2012

 

IDENTIFICATION DETAILS

 

Name :

PREMARK INTERNATIONAL PTE. LTD.

 

 

Registered Office :

100 Beach Road #30-00 Shaw Towers Singapore 189702

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

29.06.2010

 

 

Com. Reg. No.:

201013663G

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

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 – 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:

PREMARK INTERNATIONAL PTE. LTD.

201013663G

 

Date Incorporated:

Registered Office:

Telephone Number:

29/06/2010

100 BEACH ROAD #30-00 SHAW TOWERS SINGAPORE 189702

62242524

Age of Company:

Website:

Industry Type:

2

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

blank

The entity is paying current to the creditors

No. of Charges(s):
3

Industry DTC

 

25 Days

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

[PARENT]

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

 

Executive Summary

 

Company Name

:

Premark International Pte. Ltd.

Registration No

:

201013663G

Date of Registration

:

29/06/2010

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

Limited Exempt Private Company

Registered Address

:

100 BEACH ROAD #30-00 SHAW TOWERS SINGAPORE 189702

Trading Address

:

3, Shenton Way, #12-02 Shenton House Singapore 068805, Singapore

Date of Change of Address

:

05/08/2011

Fax No.

:

NA

Website

:

NA

Registered Activities

:

General Wholesale Trade (Including General Importers And Exporters)

Business Activities

:

NA

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

Nexia Ts Public Accounting Corporation

Bankers / Financiers

:

Dbs Bank Ltd.

Indian Bank

Turnover

:

$14,938,900.00 (FY2011)

Net Worth

:

$1,374,715.00 (FY2011)

No. of Bank Charges

:

3

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

 

 

SHAREHOLDER DETAILS

 

NAME

:

RAVI KUMAR JAIN

SHAREHOLDER ID

:

H9905131

NATIONALITY

:

INDIAN

ADDRESS

:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

NO. OF ORD SHARES

:

500,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHETAN KHANNA

SHAREHOLDER ID

:

Z1800289

NATIONALITY

:

INDIAN

ADDRESS

:

HOUSE NO 1B, JALAN APOLLO, DESHON ROAD SIBU (SARAWAK) 96000, MALAYSIA

NO. OF ORD SHARES

:

500,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

RAVI KUMAR JAIN

ADDRESS

:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H9905131

 

NAME

:

AGRAWAL SOHAM GHANSHYAM

ADDRESS

:

1 SIGLAP ROAD #02-16 MANDARIN GARDENS SINGAPORE 448906

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7084664J

 

NAME

:

LOH MEI LING

ADDRESS

:

100 BEACH ROAD #30-00 SHAW TOWERS SINGAPORE 189702

POSITION

:

SECRETARY

DATE OF APPT

:

29/06/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7379111A

 

NAME

:

CHETAN KHANNA

ADDRESS

:

HOUSE NO 1B, JALAN APOLLO, DESHON ROAD SIBU (SARAWAK) 96000, MALAYSIA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1800289

 

 

 

KEY PERSONNEL PROFILE

 

Name:

RAVI KUMAR JAIN

NRIC Number:

H9905131

Available Address:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

PREMARK INTERNATIONAL PTE. LTD.

DIRECTOR

29/06/2010

500000

50.00

 

 

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

 

 

 

 

 

 

 

 

Negative List (if any)

 

Traces

Status

Last Updated Date

No Trace

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

Company

Shareholdings (%)

 

NA

 

                                                                                                                       

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 3 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201112776

 

Date of Registration

:

11/10/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C201112773

 

Date of Registration

:

11/10/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

3)

Charge No.

:

C201110759

 

Date of Registration

:

26/08/2011

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

 

             

Payment Profiling (The payment pattern of Subject for the past 12 months)

 

 Description

Percentage

Improve

0%

Consistent

0%

Deteriorate

0%

Alert

0%

No Trend

100%

 

Description

Improve:           Current month’s performance better than previous month

Consistent:       Trend found in the way debtors (based on at least 6 consecutive records)

Deteriorate:       Current month’s performance worse than previous month

Alert:                Negative List; Absolute refusal to make payment

No Trend:          Inconsistent; not able to categorize

 

Negative List (if any)

 

Traces

Status

Last Updated Date

No Trace

 

 

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

 :

07/06/2011

Date of Last AR

 :

28/06/2011

Date of A/C Laid at Last AGM

 :

31/03/2011

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

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

 

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

28/06/2010
to
31/03/2011

$

Turnover

14,938,900

Profit Before Tax and Minority Interest

396,183

Profit After Tax and Minority Interest

384,892

ASSETS

 

Current Assets

3,871,078

Non-current Assets

1,643

- Fixed Assets

1,643

- Intangible Assets

0

- Long-term Investments

0

Total Assets

3,872,721

LIABILITIES

 

Current Liabilities

2,498,006

Long-Term Liabilities

0

Total Liabilities

2,498,006

SHAREHOLDERS’ FUNDS

 

Share Capital

989,824

Share Premium

0

Retained Earnings

384,892

Minority Interest

0

Other Reserves

(1)

Shareholders Funds

1,374,715

 

Financial figures are presented in USD - USA as reflected in Subject's financial statements and are converted to S$ at the rate of S$1.31573 per USD - USA in FYE11 as presented in this report.

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

28/06/2010
to
31/03/2011

PROFITABILITY

 

  Rate of Net Profit (%)

2.58

  Return on Equity (%)

28.00

  Return on Assets (%)

9.94

  Return on Capital Employed

0.29

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

1.82

  Current Liabilities/Equity (times)

1.82

  Long Term Liabilities/Equity (times)

0.00

  Debt Service Cover Ratio

NA

  Short-term Borrowings-to-cash Ratio

NA

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

3.86

  Fixed Assets Turnover (times)

9,092.45

  Interest Coverage Ratio

NA

  Average Payment Period (days)

0

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

1.55

  Quick Ratio (times)

1.55

  Average Collection Period (days)

67

 

FINANCIAL COMMENTARY

 

Profitability

 

 

The company yielded a rate of net profit on sales of 2.58 per cent in FY11. The company is now able to book in $0.03 of profit for every dollar of sales.

 

Liquidity

 

Current ratio stood at 1.55 times in FY11. This means that the company has $1.55 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be within the industry norm for the sector in which the company is operating.

 

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 liabilities-to-equity ratio notched 1.82 times in FY11. This means that the company requires additional external financing of $1.82 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be within the industry norm for the sector in which the company is operating.

 

Generally, a total liability-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 28.00 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 9.94 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 3.86 times in FY11. 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.55.19

UK Pound

1

Rs.87.65

Euro

1

Rs.69.16

 

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.