MIRA INFORM REPORT

 

 

Report Date :

06.12.2012

 

IDENTIFICATION DETAILS

 

Name :

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD.

 

 

Registered Office :

150 Orchard Road #08-01 Orchard Plaza Singapore 238841

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

18.03.2010

 

 

Com. Reg. No.:

201005788r

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Investment Holding Companies

Telecommunications Resellers/Third Party Telecommunications Providers (Include Value-Added Network Operators)

 

 

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 :

Weak

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 – 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:

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD.

201005788R

 

Date Incorporated:

Registered Office:

Telephone Number:

18/03/2010

150 ORCHARD ROAD #08-01 ORCHARD PLAZA SINGAPORE 238841

NA

Age of Company:

Website:

Industry Type:

2

NA

INFORMATION & COMMUNICATIONS

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

50

Better than last month; last month the entity took 33 days to pay

No. of Charges(s):
0

Industry DTC

 

39

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

BHARTI AIRTEL LIMITED

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD.

Registration No

:

201005788R

Date of Registration

:

18/03/2010

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

150 ORCHARD ROAD #08-01 ORCHARD PLAZA SINGAPORE 238841

Date of Change of Address

:

18/03/2010

Amalgamated With

:

BHARTI AIRTEL (SINGAPORE) PRIVATE LIMITED 200705480E

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD. 201005788R

Amalgamated To Form

:

BHARTI INTERNATIONAL (SINGAPORE) 201005788R

Amalgamation Eff Date

:

06/07/2010

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

2. TELECOMMUNICATIONS RESELLERS/THIRD PARTY TELECOMMUNICATIONS PROVIDERS (INCLUDE VALUE-ADDED NETWORK OPERATORS)

Issued Ordinary Capital*

:

$123,609,000.00 U.S. DOLLAR, NO. OF SHARE : 36,809,004

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$123,609,000.00 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

:

NA

Turnover

:

SINGAPORE, DOLLARS 94,824,417.65 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 19,925,540.19 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

BHARTI AIRTEL LIMITED

SHAREHOLDER ID

:

T07UF1441J

NATIONALITY

:

NA

ADDRESS

:

BHARTI CRESCENT, 1 NELSON MANDELA ROAD, VASANT KUNJ, PHASE-II, NEW DELHI 110 070

NO. OF ORD SHARES

:

18,739,000

% OF SHAREHOLDING

:

50.9%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

BHARTI AIRTEL INTERNATIONAL (MAURITIUS) LTD

SHAREHOLDER ID

:

T10UF1400E

NATIONALITY

:

NA

ADDRESS

:

ROGER HOUSE, 5 PRESIDENT JOHN, KENNEDY STREET, PORT LOUIS, MAURITIUS

NO. OF ORD SHARES

:

18,070,004

% OF SHAREHOLDING

:

49.1%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

MANOJ KUMAR KOHLI

ADDRESS

:

D-5/2 PHASE-1 DLF QUTAB ENCLAVE GURGAON HARYANA - 122002 INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/03/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G8600455

 

NAME

:

JANTINA CATHARINA VAN DE VREEDE

ADDRESS

:

NICOLAAS WITSENKADE 41B, 1017 ZV AMSTERDAM, THE NETHERLANDS

POSITION

:

DIRECTOR

DATE OF APPT

:

18/03/2010

NATIONALITY

:

DUTCH

I/C PASSPORT

:

NMC008PJ9

 

NAME

:

TAN YONG CHOO

ADDRESS

:

22 PARK VILLAS GREEN SINGAPORE 545430

POSITION

:

DIRECTOR

DATE OF APPT

:

20/09/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1650707E

 

NAME

:

LIM PUAY CHONG VINCENT

ADDRESS

:

43 MIMOSA ROAD #10-49 MIMOSA PARK SINGAPORE 808005

POSITION

:

DIRECTOR

DATE OF APPT

:

18/03/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6921715Z

 

 

KEY PERSONNEL PROFILE

 

Name:

JANTINA CATHARINA VAN DE VREEDE

NRIC Number:

NMC008PJ9

Available Address:

NICOLAAS WITSENKADE 41B, 1017 ZV AMSTERDAM, THE NETHERLANDS

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

BHARTI AIRTEL HOLDINGS (SINGAPORE) PTE. LTD.

DIRECTOR

09/04/2010

-

-

2

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD.

DIRECTOR

18/03/2010

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BHARTI INTERNATIONAL (SINGAPORE) PTE. LTD.

LIVE COMPANY

DIRECTOR

18/03/2010

03/07/2012

 

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

 

Date of Last AGM

:

28/09/2012

Date of Last AR

:

23/10/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

 

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

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

94,824,418

79.11

52,941,671

29,238,883

Profit/(Loss) Before Tax

(45,168,652)

NA

(84,727,901)

(12,123,597)

Profit After Tax attributable

 to Shareholders

(45,085,587)

NA

(84,557,952)

(12,968,474)

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

3,484,805,744

8.16

3,222,005,952

265,224,316

Current Assets

41,462,966

7.69

38,502,284

12,667,950

Non Current Assets

3,443,342,777

8.16

3,183,503,668

252,556,366

 

 

 

 

 

Total Liabilities

3,464,880,203

9.47

3,165,210,793

276,291,122

Current Liabilities

492,120,743

143.28

202,289,520

150,139,529

Non Current Liabilities

2,972,759,460

0.33

2,962,921,273

126,151,593

 

 

 

 

 

Shareholders' Funds

19,925,540

-64.92

56,795,158

(11,066,805)

Share Capital

154,634,721

1.78

151,935,152

289,304

Total Reserves

(134,709,181)

NA

(95,139,994)

(11,356,109)

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

Growth %

 

 

 

Year-on-Year Growth

79.11

81.07

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-47.55

-159.72

-44.35

Return on Equity (%)

-226.27

-148.88

117.18

Return on Assets (%)

-1.29

-2.62

-4.89

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

173.89

55.73

-24.97

Current Debt/Equity (Times)

24.70

3.56

0.00

Long Term Debt To Equity (Times)

149.19

52.17

0.00

Total Asset To Total Equity (Times)

174.89

56.73

-23.97

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

0.03

0.02

0.11

Fixed Assets Turnover (Times)

0.03

0.02

0.12

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

0.08

0.19

0.08
 

 

FINANCIAL COMMENTARY

 

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 0.08 times in FY12 (FY11: 0.19 times). This means that the company has SINGAPORE, DOLLARS 0.08 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 173.89 times in FY12, compared with 55.73 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 173.89 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

 

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 FY12 (FY11: 0.02 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.54.57

UK Pound

1

Rs.87.90

Euro

1

Rs.71.53

 

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.