MIRA INFORM REPORT

Report Date :

26.12.2012

IDENTIFICATION DETAILS

Name :	HUSKY INJECTION MOLDING SYSTEMS SINGAPORE PTE. LTD

Registered Office :	19 Changi South Street 1 Singapore 486779

Country :	Singapore

Financials (as on) :	31.12.2010

Date of Incorporation :	04.10.1994

Com. Reg. No.:	199407150K

Legal Form :	Limited Private Company

Line of Business :	Manufacturer of dies, moulds, tools, jigs and fixtures Manufacturer of injection moulds

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 :	Slow
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 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Singapore

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:
HUSKY INJECTION MOLDING SYSTEMS SINGAPORE PTE. LTD.	199407150K

Date Incorporated:	Registered Office:	Telephone Number:
04/10/1994	19 CHANGI SOUTH STREET 1 SINGAPORE 486779	6276 8616
Age of Company:	Website:	Industry Type:
18	NA	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		1
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
24

Directors		Corporate Structure
Number of Current Directors	4	Holding Company:	HUSKY INJECTION MOLDING SYSTEMS LTD
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	HUSKY INJECTION MOLDING SYSTEMS SINGAPORE PTE. LTD.
Registration No	:	199407150K
Date of Registration	:	04/10/1994
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	19 CHANGI SOUTH STREET 1 SINGAPORE 486779
Date of Change of Address	:	08/12/2006
Contact No.	:	6276 8616
Fax No.	:	6276 8656
Website	:	NA
Registered Activities	:	1. MANUFACTURE OF DIES, MOULDS, TOOLS, JIGS AND FIXTURES MANUFACTURE OF INJECTION MOULDS 2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES) SALES, TECHNICAL & MARKETING SUPPORT & ASSISTANCE TO HOLDING COMPANY
Issued Ordinary Capital*	:	$10,404,986.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 10,404,986
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,404,986.00 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	:	ERNST & YOUNG LLP
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 114,880,546.87 (FY2010)
Net Worth	:	SINGAPORE, DOLLARS 26,089,871.30 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	1
S1000 / SME 1000 / FG50 Ranking	:	1628 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)
Compounded Annual Growth Rate (CAGR)	:	13.54% (3 years)

SHAREHOLDER DETAILS

NAME	:	HUSKY INJECTION MOLDING SYSTEMS LTD
SHAREHOLDER ID	:	T08UF0159A
NATIONALITY	:	CANADA
ADDRESS	:	500 QUEEN STREET S BOLTON, ONTARIO, CANADA L7E 5S5
NO. OF ORD SHARES	:	10,404,986
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	ISAAC CHENG
ADDRESS	:	12TH FL., FLAT F, BLK 12, SCENEWAY GDN., LAM TIN KLN, HONG KONG
POSITION	:	DIRECTOR
DATE OF APPT	:	04/11/2004
NATIONALITY	:	CANADIAN
I/C PASSPORT	:	BA653600

NAME	:	KARL HEINZ HOEFERT
ADDRESS	:	62 HOLLAND GROVE VIEW SINGAPORE 276219
POSITION	:	DIRECTOR
DATE OF APPT	:	05/02/2012
NATIONALITY	:	GERMAN
I/C PASSPORT	:	F1246700K

NAME	:	DINESH S. BUDAPANAHALLI
ADDRESS	:	132 TANJONG RHU ROAD #04-05 PEBBLE BAY SINGAPORE 436919
POSITION	:	DIRECTOR
DATE OF APPT	:	29/02/2008
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	G5631473W

NAME	:	ANNE CHOO
ADDRESS	:	34 JALAN REBANA FABER GARDEN SINGAPORE 577003
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1256587I

NAME	:	JUSTINA SOON HSU-LIN
ADDRESS	:	50 BUKIT BATOK STREET 31 #15-03 MADEIRA, THE SINGAPORE 659442
POSITION	:	SECRETARY
DATE OF APPT	:	31/12/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7497243H

NAME	:	MICHAEL PATRICK MCKENDRY
ADDRESS	:	6 PARK MEADOW DRIVE, CALEDON ONTARIO CANADA L4N 1E9
POSITION	:	DIRECTOR
DATE OF APPT	:	31/07/2008
NATIONALITY	:	CANADIAN
I/C PASSPORT	:	WG273414

KEY PERSONNEL PROFILE

Name:	ISAAC CHENG
NRIC Number:	BA653600
Available Address:	12TH FL., FLAT F, BLK 12, SCENEWAY GDN., LAM TIN KLN, HONG KONG

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
No Trace

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

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

there have been 1 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	0
High (>$250,000)	0	0

Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Magistrate Court
	Case No.	:	9772
	Transfer	:	-
	Date of Filing	:	27/04/2007
	Amount	:	0.00
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	CONCLUDED
	Plaintiff	:	INDIAN BANK
	Last Update Date	:	26/08/2011

COMPLIANCE

Date of Last AGM	:	31/08/2011
Date of Last AR	:	23/09/2011
Date of A/C Laid At Last AGM	:	31/12/2010

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
	DEC 2010	% Change	DEC 2009	DEC 2008	JUL 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	114,880,547	-20.40	144,314,112	111,663,879	78,481,919
Profit/(Loss) Before Tax	2,364,849	-67.37	7,248,391	39,987,764	(6,018,531)
Profit After Tax attributable to Shareholders	1,143,113	-83.78	7,048,832	39,986,303	(5,775,880)

Balance Sheet Key Figures
Total Assets	254,510,003	12.68	225,859,759	201,394,349	123,591,719
Current Assets	94,333,786	76.45	53,461,079	41,144,388	109,704,805
Non Current Assets	160,176,217	-7.09	172,398,680	160,249,961	13,886,914

Total Liabilities	228,420,132	15.28	198,146,859	175,805,140	124,325,752
Current Liabilities	228,420,132	15.28	198,146,859	175,805,140	124,325,752
Non Current Liabilities	0	NA	0	0	0

Shareholders' Funds	26,089,871	-5.86	27,712,900	25,589,208	(734,032)
Share Capital	10,065,528	84.59	5,452,843	962,763	114,065
Total Reserves	16,024,343	-28.01	22,260,057	24,626,445	(848,097)

FINANCIAL RATIOS

	Company
	DEC 2010	DEC 2009	DEC 2008	JUL 2007
Growth %
Year-on-Year Growth	-20.40	29.24	42.28	NA

Profitability
Profit Margin (%)	1.00	4.88	35.81	-7.36
Return on Equity (%)	4.38	25.44	156.26	786.87
Return on Assets (%)	0.45	3.12	19.85	-4.67

Leverage
Total Debt/Equity (Times)	8.76	7.15	6.87	-169.37
Current Debt/Equity (Times)	8.76	7.15	6.87	0.00
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	9.76	8.15	7.87	-168.37

Asset Management
Total Assets Turnover (Times)	0.45	0.64	0.55	0.64
Fixed Assets Turnover (Times)	0.72	0.84	0.70	5.65

Liquidity
Current Ratio (Times)	0.41	0.27	0.23	0.88

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 13.54% (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 1.00 per cent in FY10 (FY09: 4.88 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.05 a year ago.

Liquidity

Current ratio stood at 0.41 times in FY10 (FY09: 0.27 times). This means that the company has SINGAPORE, DOLLARS 0.41 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 8.76 times in FY10, compared with 7.15 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 8.76 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 4.38 per cent for Subject in the current financial period, as compared to 25.44 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 0.45 per cent (FY09: 3.12 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 0.45 times in FY10 (FY09: 0.64 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.55.08
UK Pound	1	Rs.89.09
Euro	1	Rs.72.62

INFORMATION DETAILS

Report Prepared by :

PRL

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.