MIRA INFORM REPORT

 

 

Report Date :

23.08.2012

 

IDENTIFICATION DETAILS

 

Name :

REDINGTON DISTRIBUTION PTE. LTD.

 

 

Registered Office :

39 Robinson Road #09-04 Singapore 068911

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

28.03.2005

 

 

Com. Reg. No.:

200503995e

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesaler of computer hardware and peripheral equipment

 

 

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

 

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 – 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:

REDINGTON DISTRIBUTION PTE. LTD.

200503995E

 

Date Incorporated:

Registered Office:

Telephone Number:

28/03/2005

39 ROBINSON ROAD #09-04 SINGAPORE 068911

6273 6515

Age of Company:

Website:

Industry Type:

7

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):
1

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

REDINGTON (INDIA) LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

REDINGTON DISTRIBUTION PTE. LTD.

Registration No

:

200503995E

Date of Registration

:

28/03/2005

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

39 ROBINSON ROAD #09-04 SINGAPORE 068911

Date of Change of Address

:

25/06/2007

Contact No.

:

6273 6515

Fax No.

:

64386616

Website

:

NA

Registered Activities

:

WHOLESALE OF COMPUTER HARDWARE AND PERIPHERAL EQUIPMENT

Issued Ordinary Capital*

:

$4,000,000.00 U.S. DOLLAR ,NO. OF SHARE : 3,800,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$4,000,000.00 U.S. DOLLAR

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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

ICICI BANK LIMITED

Turnover

:

SGD - SIN 339,926,922.00 (FY2012)

Net Worth

:

SGD - SIN 17,585,345.00 (FY2012)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

821 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

993 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

793 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

14.16% (3 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

REDINGTON (INDIA) LIMITED

SHAREHOLDER ID

:

T05UF1286F

NATIONALITY

:

INDIA

ADDRESS

:

SPL GUINDY HOUSE, 95, MOUNT ROAD GUINDY, CHENNAI - 600032, INDIA

NO. OF ORD SHARES

:

3,800,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

RANGAREDDY JAYACHANDRAN

ADDRESS

:

3 GRANGE GARDEN #09-01 GRANGE, THE SINGAPORE 249633

POSITION

:

DIRECTOR

DATE OF APPT

:

28/03/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2220352E

 

NAME

:

RAMANATHAN SRINIVASAN

ADDRESS

:

15 ARDMORE PARK #05-02 ARDMORE PARK SINGAPORE 259959

POSITION

:

DIRECTOR

DATE OF APPT

:

28/03/2005

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2566556B

 

NAME

:

YIP MING FAI

ADDRESS

:

29 TOH TUCK DRIVE SINGAPORE 596888

POSITION

:

SECRETARY

 

DATE OF APPT

:

01/01/2010

 

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2567316F

 

NAME

:

RAJ SHANKAR

ADDRESS

:

1 TANJONG RHU ROAD #19-04 WATERSIDE, THE SINGAPORE 436879

POSITION

:

DIRECTOR

DATE OF APPT

:

28/03/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2678584G

 

 

KEY PERSONNEL PROFILE

 

Name:

RANGAREDDY JAYACHANDRAN

NRIC Number:

S2220352E

Available Address:

3 GRANGE GARDEN #09-01 GRANGE, THE  SINGAPORE 249633

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AFRI VENTURES LIMITED

DIRECTOR

02/08/2010

-

-

2

AQUARIUS CAPITAL ASIA PTE. LTD.

DIRECTOR

07/08/2006

80000

80.00

3

AQUARIUS INVESTMENT ADVISORS PTE. LTD.

DIRECTOR

03/04/1995

-

-

4

KCTEX INTERNATIONAL LIMITED

DIRECTOR

19/07/2006

-

-

5

KEWALRAM SINGAPORE LIMITED

DIRECTOR

04/02/1980

-

-

6

NAPIER HEALTHCARE SOLUTIONS PTE. LTD.

DIRECTOR

28/10/2008

19512000

78.04

7

OLAM INTERNATIONAL LIMITED

DIRECTOR

04/07/1995

-

-

8

REDINGTON DISTRIBUTION PTE. LTD.

DIRECTOR

28/03/2005

-

-

9

RPL PTE. LTD.

DIRECTOR

26/03/1987

450000

15.00

10

RPL PTE. LTD.

SECRETARY

30/04/1998

450000

15.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AGRIND TRADING (SINGAPORE) PTE LTD

STRUCK OFF

DIRECTOR

29/04/1994

27/06/1997

2

AQUARIUS CAPITALCORP PTE. LTD.

STRUCK OFF

DIRECTOR

14/09/2006

01/02/2008

3

AQUARIUS FUNDS PTE. LTD.

LIVE COMPANY

DIRECTOR

27/01/2006

30/11/2007

4

AQUARIUS INVESTMENT ADVISORS PTE. LTD.

LIVE COMPANY

SECRETARY

12/05/1995

16/11/1999

5

AQUARIUS INVESTMENTS (SINGAPORE) PTE. LTD.

STRUCK OFF

DIRECTOR

18/01/2006

01/02/2008

6

CADENSWORTH TRADING PTE LTD

STRUCK OFF

DIRECTOR

09/04/1990

12/02/2009

7

CADENSWORTH TRADING PTE LTD

STRUCK OFF

SECRETARY

30/04/1998

12/02/2009

8

CWG (ASIA) PTE LTD

STRUCK OFF

DIRECTOR

29/10/1994

11/09/1999

9

CWG (ASIA) PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

 

10

GLOBAL BUSINESS PARTNERS PTE. LTD.

STRUCK OFF

DIRECTOR

06/10/1997

08/02/2001

11

KAY-ASIA INVESTMENT PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

23/12/1982

09/06/1992

12

KAY-ASIA SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

08/02/1993

17/02/2007

13

KAY-ASIA SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SECRETARY

30/04/1998

17/02/2007

14

KAYTRONICS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

07/10/1987

02/05/1994

15

KEWALRAM REALTY LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

31/05/1980

22/09/1999

16

MATCHONO TRADING PTE LTD

STRUCK OFF

DIRECTOR

02/10/1990

26/09/2006

17

MATCHONO TRADING PTE LTD

STRUCK OFF

SECRETARY

30/04/1998

26/09/2006

18

MERLINDUS TECHNOLOGIES PTE. LTD.

STRUCK OFF

DIRECTOR

23/09/2004

10/02/2012

19

MERLINDUS TECHNOLOGIES PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

20

OLAM INTERNATIONAL LIMITED

LIVE COMPANY

SECRETARY

01/12/1995

01/03/2000

21

ONE PHILLIP STREET PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/03/1996

07/11/2007

22

ONE PHILLIP STREET PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SECRETARY

30/04/1998

19/08/2005

23

PRESCO (PTE.) LIMITED

STRUCK OFF

DIRECTOR

01/01/1980

08/12/2010

24

PRESCO (PTE.) LIMITED

STRUCK OFF

SECRETARY

30/04/1998

08/12/2010

25

REDINGTON DISTRIBUTION PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

21/08/2012

 

26

SCANDIA ESSAR PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

31/07/1987

26/12/2000

27

VALENTINO GARMENT PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

29/08/1988

29/06/2000

28

VALENTINO GARMENT PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SECRETARY

30/04/1998

29/06/2000

29

VILCO (PRIVATE) LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

14/05/1987

25/11/2006

 

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201206669

 

Date of Registration

:

20/06/2012

 

Chargee

:

ICICI BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

             

 

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

21/06/2012

Date of Last AR

:

10/07/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

 

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

 

Financial Figures

Group

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

351,044,197

16.07

302,430,116

208,068,463

228,456,744

Profit/(Loss) Before Tax

4,556,363

23.74

3,682,136

2,627,435

2,223,922

Profit After Tax attributable to Shareholders

3,514,719

15.56

3,041,524

2,114,383

1,804,533

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

67,277,250

-5.80

71,416,730

48,602,697

36,389,098

Current Assets

67,172,693

-5.88

71,370,169

48,588,289

36,373,234

Non Current Assets

104,557

124.56

46,561

14,408

15,864

 

 

 

 

 

 

Total Liabilities

49,696,428

-11.10

55,899,557

34,860,975

25,030,775

Current Liabilities

49,681,780

-11.11

55,891,947

34,860,975

25,030,775

Non Current Liabilities

14,648

92.48

7,610

0

0

 

 

 

 

 

 

Shareholders' Funds

17,580,823

13.30

15,517,174

13,741,722

11,358,323

Share Capital

5,014,532

-5.60

5,312,000

5,700,568

5,769,400

Total Reserves

12,566,291

23.14

10,205,174

8,041,154

5,588,923

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

 

Year-on-Year Growth

16.07

45.35

-8.92

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

1.00

1.01

1.02

0.79

Return on Equity (%)

19.99

19.60

15.39

15.89

Return on Assets (%)

5.22

4.26

4.35

4.96

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

2.83

3.60

2.54

2.20

Current Debt/Equity (Times)

2.83

3.60

2.54

2.20

Long Term Debt To Equity (Times)

0.00

0.00

NA

NA

Total Asset To Total Equity (Times)

3.83

4.60

3.54

3.20

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

5.22

4.23

4.28

6.28

Fixed Assets Turnover (Times)

3,357.44

6,495.35

14,441.18

14,400.95

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.35

1.28

1.39

1.45

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

339,926,922

13.08

300,614,416

208,068,463

228,456,744

Profit/(Loss) Before Tax

4,629,760

35.04

3,428,340

2,621,202

2,223,367

Profit After Tax attributable

 to Shareholders

3,672,746

28.23

2,864,159

2,108,151

1,804,185

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

65,575,522

-7.69

71,034,623

48,576,969

36,374,034

Current Assets

65,187,971

-7.70

70,625,594

48,499,878

36,294,787

Non Current Assets

387,551

-5.25

409,029

77,091

79,247

 

 

 

 

 

 

Total Liabilities

47,990,177

-13.86

55,713,835

34,844,479

25,019,025

Current Liabilities

47,990,177

-13.86

55,713,835

34,844,479

25,019,025

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

17,585,345

14.78

15,320,788

13,732,490

11,355,010

Share Capital

5,004,000

-5.80

5,312,000

5,700,568

5,769,400

Total Reserves

12,581,345

25.70

10,008,788

8,031,922

5,585,610

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

 

Year-on-Year Growth

13.08

44.48

-8.92

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

1.08

0.95

1.01

0.79

Return on Equity (%)

20.89

18.69

15.35

15.89

Return on Assets (%)

5.60

4.03

4.34

4.96

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

2.73

3.64

2.54

2.20

Current Debt/Equity (Times)

2.73

3.64

2.54

2.20

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

3.73

4.64

3.54

3.20

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

5.18

4.23

4.28

6.28

Fixed Assets Turnover (Times)

877.12

734.95

2,699.00

2,882.84

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.36

1.27

1.39

1.45

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 14.16% (3 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 1.08 per cent in FY12 (FY11: 0.95 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.36 times in FY12 (FY11: 1.27 times). This means that the company has SGD - SIN 1.36 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 2.73 times in FY12, compared with 3.64 times in FY11. This means that the company requires additional external financing of SGD - SIN 2.73 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

 

Return on equity was 20.89 per cent for Subject in the current financial period, as compared to 18.69 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.

 

Return on assets stood at 5.60 per cent (FY11: 4.03 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 5.18 times in FY12 (FY11: 4.23 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.55.51

UK Pound

1

Rs.87.60

Euro

1

Rs.69.17

 

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.