MIRA INFORM REPORT

 

 

 

Report Date :

04.12.2012

 

IDENTIFICATION DETAILS

 

Name :

GOLD WEALTH PTE. LTD.

 

 

Registered Office :

111 North Bridge Road #04-31 Peninsula Plaza 179098

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2006

 

 

Date of Incorporation :

11.09.2003

 

 

Com. Reg. No.:

200308971K

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters)

 

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

 

Executive Summary

 

Company Name

:

GOLD WEALTH PTE. LTD.

Registration No

:

200308971K

Date of Registration

:

11/09/2003

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

111 NORTH BRIDGE ROAD #04-31 PENINSULA PLAZA SINGAPORE 179098

Date of Change of Address

:

11/09/2003

Contact No.

:

6336 6184

Fax No.

:

6336 1135

Website

:

NA

Registered Activities

:

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

COMMISSION AGENTS

2. REAL ESTATE ACTIVITIES WITH OWN OR LEASED PROPERTY NEC

INVESTMENT IN PROPERTIES

Issued Ordinary Capital*

:

$2.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 2

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$2.00 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

:

V. P. KUMARAN & CO.

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 3,278,261.00

Net Worth

:

SINGAPORE, DOLLARS 60,650.00

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

RAMESH GULABRAI

SHAREHOLDER ID

:

S0008229E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

14 SERAYA LANE SINGAPORE 437281

NO. OF ORD SHARES

:

1

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SONIA RAMESH GULABRAI

SHAREHOLDER ID

:

S2184879D

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

14 SERAYA LANE SINGAPORE 437281

NO. OF ORD SHARES

:

1

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RAMESH GULABRAI

ADDRESS

:

14 SERAYA LANE SINGAPORE 437281

POSITION

:

DIRECTOR

DATE OF APPT

:

11/09/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0008229E

 

NAME

:

SONIA RAMESH GULABRAI

ADDRESS

:

14 SERAYA LANE SINGAPORE 437281

POSITION

:

DIRECTOR

DATE OF APPT

:

11/09/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2184879D

 

 

KEY PERSONNEL PROFILE

 

Name:

RAMESH GULABRAI

NRIC Number:

S0008229E

Available Address:

14 SERAYA LANE  SINGAPORE 437281

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

GOLD WEALTH PTE. LTD.

DIRECTOR

11/09/2003

1

50.00

2

INTERNATIONAL TRADING CORPORATION

MANAGER

01/01/1975

-

-

3

INTERNATIONAL TRADING CORPORATION

OWNER

01/01/1975

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

SINGAPORE INDIAN CHAMBER OF COMMERCE & INDUSTRY

LIVE COMPANY

SHAREHOLDER

-

17/03/2010

 

Bankruptcy Record

 

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

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

 

Date of Last AGM

:

27/06/2009

Date of Last AR

:

08/09/2009

Date of A/C Laid At Last AGM

:

31/12/2008

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2006

% Change

DEC 2005

DEC 2004

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

Turnover

3,278,261

385.69

674,965

230,036

Profit/(Loss) Before Tax

10,072

-58.34

24,176

0

Profit After Tax attributable to Shareholders

9,565

-60.44

24,176

26,907

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

162,088

-4.77

170,202

73,694

Current Assets

162,088

-4.77

170,202

73,694

Non Current Assets

0

NA

0

0

 

 

 

 

 

Total Liabilities

101,438

-14.84

119,117

46,785

Current Liabilities

101,438

-14.84

119,117

46,785

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

60,650

18.72

51,085

26,909

Share Capital

2

0.00

2

2

Total Reserves

60,648

18.72

51,083

26,907

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2006

DEC 2005

DEC 2004

Growth %

 

 

 

Year-on-Year Growth

385.69

193.42

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

0.29

3.58

11.70

Return on Equity (%)

15.77

47.33

99.99

Return on Assets (%)

5.90

14.20

36.51

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

1.67

2.33

1.74

Current Debt/Equity (Times)

1.67

2.33

1.74

Long Term Debt To Equity (Times)

NA

NA

NA

Total Asset To Total Equity (Times)

2.67

3.33

2.74

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

20.23

3.97

3.12

Fixed Assets Turnover (Times)

NA

NA

NA

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.60

1.43

1.58

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.29 per cent in FY06 (FY05: 3.58 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY06, as compared with SINGAPORE, DOLLARS 0.04 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.60 times in FY06 (FY05: 1.43 times). This means that the company has SINGAPORE, DOLLARS 1.60 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.

 

 

 

Leverage

Total debt-to-equity ratio notched 1.67 times in FY06, compared with 2.33 times in FY05. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.67 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

 

Return on equity was 15.77 per cent for Subject in the current financial period, as compared to 47.33 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 5.90 per cent (FY05: 14.20 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 20.23 times in FY06 (FY05: 3.97 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.54.56

UK Pound

1

Rs.87.46

Euro

1

Rs.71.08

 

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.