MIRA INFORM REPORT

 

 

Report Date :

04.12.2012

 

IDENTIFICATION DETAILS

 

Name :

KAYBEE EXIM PTE LTD

 

 

Formerly Known As :

SPECTRA EXIM PTE. LTD.

 

 

Registered Office :

120 Lower Delta Road #14-01 Cendex Centre Singapore 169208

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.12.1986

 

 

Com. Reg. No.:

198602930C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of telecommunications equipment

 

 

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 :

--

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

Singapore - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

Company Name:

Registered Number:

KAYBEE EXIM PTE LTD

198602930C

 

Date Incorporated:

Registered Office:

Telephone Number:

26/12/1986

120 LOWER DELTA ROAD #14-01 CENDEX CENTRE SINGAPORE 169208

6299 8900

Age of Company:

Website:

Industry Type:

26

www.kaybeegroup.com

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

2

 

NA

 

The entity is paying current to the creditors

No. of Charges(s):
11

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

GRUPO KAYBEE PTE. LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

KAYBEE EXIM PTE LTD

Registration No

:

198602930C

Date of Registration

:

26/12/1986

Former Name

:

SPECTRA EXIM PTE. LTD. Eff. date : 26/12/1986 Eff. date : 26/12/1986

Date of Change of Name

:

25/03/1997

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

120 LOWER DELTA ROAD #14-01 CENDEX CENTRE SINGAPORE 169208

Old Address

:

13-308 The Plaza 7500 A Beach Road, Singapore 199591, Singapore

Date of Change of Address

:

15/01/2012

Contact No.

:

6299 8900

Fax No.

:

6299 0989

Website

:

www.kaybeegroup.com

Registered Activities

:

1. WHOLESALE OF TELECOMMUNICATIONS EQUIPMENT

TRADERS IN ALL KINDS OF TEXTILE FABRICS,YARN,ELECTRONIC PRODS &

2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

GENERAL MERCHANDISE

Issued Ordinary Capital*

:

$7,896,227.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 7,896,227

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$7,896,227.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

MOORE STEPHENS LLP

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

UNITED OVERSEAS BANK LIMITED

DBS BANK LTD.

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

STANDARD CHARTERED BANK

Turnover

:

SGD - SIN 361,023,612.00 (FY2010)

Net Worth

:

SGD - SIN 12,641,249.00 (FY2010)

No. of Bank Charges

:

11

No. of Litigation Suits

:

2

S1000 / SME 1000 / FG50 Ranking

:

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

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

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

498 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

668 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

2.08% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

GRUPO KAYBEE PTE. LIMITED

SHAREHOLDER ID

:

200600869K

NATIONALITY

:

SINGAPORE

ADDRESS

:

120 LOWER DELTA ROAD #14-01 CENDEX CENTRE SINGAPORE 169208

NO. OF ORD SHARES

:

7,896,227

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SHIRLEY LIM GUAT HUA

ADDRESS

:

5 BEDOK PLACE BEDOK GROVE SINGAPORE 486078

POSITION

:

SECRETARY

DATE OF APPT

:

14/09/1998

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2510643A

 

NAME

:

GOVIND KARUNAKARAN

ADDRESS

:

16 WAREHAM ROAD SINGAPORE 436780

POSITION

:

DIRECTOR

DATE OF APPT

:

19/06/1989

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2637302F

 

NAME

:

KUMAR K CHAND @ KUMAR KISHINCHAND GAJWANI

ADDRESS

:

44 CORONATION ROAD WEST #01-01 ASTRID MEADOWS SINGAPORE 269260

POSITION

:

DIRECTOR

DATE OF APPT

:

09/03/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2696283H

 

NAME

:

VIKRAM KUMAR CHAND

ADDRESS

:

48 CORONATION ROAD WEST #01-01 ASTRID MEADOWS SINGAPORE 269263

POSITION

:

DIRECTOR

DATE OF APPT

:

28/07/1993

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2706056J

 

 

KEY PERSONNEL PROFILE

 

Name:

VIKRAM KUMAR CHAND

NRIC Number:

S2706056J

Available Address:

48 CORONATION ROAD WEST #01-01 ASTRID MEADOWS  SINGAPORE 269263

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

GRUPO KAYBEE PTE. LIMITED

DIRECTOR

19/01/2006

-

-

2

KAYBEE EXIM PTE LTD

DIRECTOR

28/07/1993

-

-

3

KAYBEE EXIM PTE LTD

MANAGING DIRECTOR

16/08/1994

-

-

4

RARITIES INTERNATIONAL PRIVATE LIMITED

DIRECTOR

20/10/1995

1

0.00

5

VEGA FOODS CORP PRIVATE LTD.

DIRECTOR

12/05/2001

362061100

25.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

GRUPO KAYBEE PTE. LIMITED

LIVE COMPANY

SHAREHOLDER

-

17/11/2011

2

UNITED WORLD COLLEGE OF SOUTH EAST ASIA

LIVE COMPANY

DIRECTOR

01/03/2002

19/08/2011

 

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

D

4452

-

2005

15/12/2005

SGD 20.00

Negligence Related

D

4267

-

2005

06/12/2005

SGD 20.00

Negligence Related

M

11179

-

2004

06/05/2004

SGD 17,960.00

Negligence Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

VEGA FOODS CORP PRIVATE LTD.

74.99

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 11 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201203997

 

Date of Registration

:

12/04/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

2)

Charge No.

:

C201108797

 

Date of Registration

:

19/07/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

3)

Charge No.

:

C201010975

 

Date of Registration

:

18/11/2010

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

4)

Charge No.

:

C200902087

 

Date of Registration

:

08/04/2009

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

5)

Charge No.

:

C200902086

 

Date of Registration

:

08/04/2009

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

6)

Charge No.

:

C200900785

 

Date of Registration

:

30/01/2009

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

7)

Charge No.

:

C200807865

 

Date of Registration

:

22/08/2008

 

Chargee

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

8)

Charge No.

:

C200705767

 

Date of Registration

:

23/07/2007

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

9)

Charge No.

:

C200700640

 

Date of Registration

:

23/01/2007

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

10)

Charge No.

:

C200500560

 

Date of Registration

:

27/01/2005

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

11)

Charge No.

:

9601310

 

Date of Registration

:

08/03/1996

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

392,215.00 U.S. DOLLAR

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

 

LITIGATION

 

there have been 2 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

District ($80,000 - $250,000)

0

1

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

3509

 

Transfer

:

-

 

Date of Filing

:

08/09/2001

 

Amount

:

80,000.00

 

Cause

:

CONTRACTS-WORK DONE & SERVICES RENDERED

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KENTROPY TECHNOLOGIES PTE LTD

 

Last Update Date

:

25/02/2004

 

2)

Court

:

Magistrate Court

 

Case No.

:

24691

 

Transfer

:

-

 

Date of Filing

:

12/12/1997

 

Amount

:

71,306.75

 

Cause

:

CONTRACTS-WORK DONE & SERVICES RENDERED

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SINCLAIR ROCHE & TEMPERLEY

 

Last Update Date

:

28/10/2002

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

25/07/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

-

NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

 

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

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

361,023,612

5.99

340,624,762

360,309,003

426,172,303

332,539,614

Profit/(Loss) Before Tax

1,231,438

5.83

1,163,616

867,187

1,826,339

1,761,113

Profit After Tax attributable

 to Shareholders

1,110,652

1.29

1,096,511

729,738

1,767,567

1,761,113

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

63,443,824

-20.58

79,879,408

68,032,517

77,491,124

71,823,681

Current Assets

51,364,989

-23.53

67,165,760

55,502,111

73,122,315

67,169,652

Non Current Assets

12,078,835

-4.99

12,713,648

12,530,406

4,368,809

4,654,029

 

 

 

 

 

 

 

Total Liabilities

50,802,575

-24.79

67,549,039

57,139,565

68,170,432

63,860,091

Current Liabilities

49,187,548

-23.73

64,494,919

56,796,783

67,708,497

63,312,215

Non Current Liabilities

1,615,027

-47.12

3,054,120

342,782

461,935

547,876

 

 

 

 

 

 

 

Shareholders' Funds

12,641,249

2.52

12,330,371

10,892,953

9,320,693

7,963,590

Share Capital

6,688,123

-6.49

7,152,018

6,934,980

5,882,786

5,001,681

Total Reserves

5,953,126

14.96

5,178,353

3,957,973

3,437,907

2,961,909

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

5.99

-5.46

-15.45

28.16

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.31

0.32

0.20

0.41

0.53

Return on Equity (%)

8.79

8.89

6.70

18.96

22.11

Return on Assets (%)

1.75

1.37

1.07

2.28

2.45

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

4.02

5.48

5.25

7.31

8.02

Current Debt/Equity (Times)

3.89

5.23

5.21

7.26

7.95

Long Term Debt To Equity (Times)

0.13

0.25

0.03

0.05

0.07

Total Asset To Total Equity (Times)

5.02

6.48

6.25

8.31

9.02

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

5.69

4.26

5.30

5.50

4.63

Fixed Assets Turnover (Times)

29.89

26.79

28.75

97.55

71.45

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.04

1.04

0.98

1.08

1.06

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 2.08% (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

The company yielded a rate of net profit on sales of 0.31 per cent in FY10 (FY09: 0.32 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.00 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.04 times in FY10 (FY09: 1.04 times). This means that the company has SGD - SIN 1.04 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 4.02 times in FY10, as compared with 5.48 times in FY09. This means that the company requires additional external financing of SGD - SIN 4.02 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 8.79 per cent for Subject in the current financial period, as compared to 8.89 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 1.75 per cent (FY09: 1.37 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 5.69 times in FY10 (FY09: 4.26 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.