MIRA INFORM REPORT

 

 

Report Date :

29.12.2012

 

IDENTIFICATION DETAILS

 

Name :

ETERNAL ASIA (S) PTE. LTD.

 

 

 

 

Registered Office :

2 Jurong East Street 21 #03-105 Imm Building Singapore 609601

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

19.11.2009

 

 

Com. Reg. No.:

200921721C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Retail Sale in Other Non-Specialised Stores.

Distribution of It Products and Consumer Electronics

 

 

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 :

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

(31.03.2011)

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:

ETERNAL ASIA (S) PTE. LTD.

200921721C

 

Date Incorporated:

Registered Office:

Telephone Number:

19/11/2009

2 JURONG EAST STREET 21 #03-105 IMM BUILDING SINGAPORE 609601

62249388

Age of Company:

Website:

Industry Type:

3

http://www.eternal-asia.com/

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

45

down

Better than last month;last month the entity took 58 days to pay

No. of Charges(s):
4

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

ETERNAL ASIA SUPPLY CHAIN MANAGEMENT (S) PTE. LTD.

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

8

 

EXECUTIVE SUMMARY

 

Company Name

:

ETERNAL ASIA (S) PTE. LTD.

Registration No

:

200921721C

Date of Registration

:

19/11/2009

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

2 JURONG EAST STREET 21 #03-105 IMM BUILDING SINGAPORE 609601

Date of Change of Address

:

20/12/2010

Contact No.

:

62249388

Fax No.

:

62249866

Website

:

http://www.eternal-asia.com/

Registered Activities

:

1. RETAIL SALE IN OTHER NON-SPECIALISED STORES NEC

DISTRIBUTION OF IT PRODUCTS AND CONSUMER ELECTRONICS

2. RETAIL SALE OF COMPUTER HARDWARE AND ACCESSORIES AND COMPUTER SOFTWARE (EXCEPT GAMES)

Issued Ordinary Capital*

:

$1,000,000.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 UNITED STATES OF AMERICA, 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

:

8

No. of Local Associates

:

NA

Auditor

:

P G WEE & PARTNERS

Bankers / Financiers

:

STANDARD CHARTERED BANK

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SGD - SIN 117,515,914.00 (FY2011)

Net Worth

:

SGD - SIN 3,849,666.00 (FY2011)

No. of Bank Charges

:

4

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

:

ETERNAL ASIA SUPPLY CHAIN MANAGEMENT (S) PTE. LTD.

SHAREHOLDER ID

:

200710608R

NATIONALITY

:

SINGAPORE

ADDRESS

:

79 ANSON ROAD #07-03 SINGAPORE 079906

NO. OF ORD SHARES

:

700,000

% OF SHAREHOLDING

:

70%

CURRENCY

:

UNITED STATES OF AMERICA, DOLLARS

 

NAME

:

ATTICA TECHNOLOGIES PTE. LTD.

SHAREHOLDER ID

:

200819698C

NATIONALITY

:

SINGAPORE

ADDRESS

:

2 JURONG EAST STREET 21 #03-105 IMM BUILDING SINGAPORE 609601

NO. OF ORD SHARES

:

300,000

% OF SHAREHOLDING

:

30%

CURRENCY

:

UNITED STATES OF AMERICA, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHENG KIM HUNG

ADDRESS

:

31 JURONG WEST STREET 41 #02-40 THE LAKESHORE SINGAPORE 649412

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

19/11/2009

13/10/2012

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G5284898P

 

NAME

:

FUNG KWAN HUNG

ADDRESS

:

FLAT B, 23/F., TOWER 9, PARK AVENUE, 18 HOI TING ROAD MONGKOK, KOWLOON HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

19/11/2009

NATIONALITY

:

CHINESE

I/C PASSPORT

:

HA0769796

 

NAME

:

DAVID CHENG TAK WAI

ADDRESS

:

ROOM D, 29/F., TOWER 1, SAUSALITO, 1 YUK TAI STREET, MA ON SHAN, SHATIN, NEW TERRITORIES, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

19/11/2009

NATIONALITY

:

CHINESE

I/C PASSPORT

:

KJ0009847

 

NAME

:

GOH HIEN JUAN

ADDRESS

:

110 BISHAN STREET 12 #05-122 BISHAN VIEW SINGAPORE 570110

POSITION

:

DIRECTOR

DATE OF APPT

:

19/11/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6811572H

 

NAME

:

ASRI BIN SALLEH

ADDRESS

:

106D PUNGGOL FIELD #14-506 SINGAPORE 824106

POSITION

:

DIRECTOR

DATE OF APPT

:

19/11/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7247648D

 

 

 

KEY PERSONNEL PROFILE

 

Name:

CHENG KIM HUNG

NRIC Number:

G5284898P

Available Address:

31 JURONG WEST STREET 41 #02-40 THE LAKESHORE  SINGAPORE 649412

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ETERNAL ASIA (INDONESIA) PTE. LTD.

SECRETARY

13/10/2012

-

NA

2

ETERNAL ASIA (PHILIPPINES) PTE. LTD.

SECRETARY

13/10/2012

-

NA

3

ETERNAL ASIA (S) PTE. LTD.

SECRETARY

13/10/2012

-

NA

4

ETERNAL ASIA (S) PTE. LTD.

DIRECTOR

19/11/2009

-

NA

5

ETERNAL ASIA (VIETNAM) PTE. LTD.

SECRETARY

13/10/2012

-

NA

6

ETERNAL ASIA DISTRIBUTION (S) PTE. LTD.

DIRECTOR

30/11/2012

-

NA

7

ETERNAL ASIA DISTRIBUTION (S) PTE. LTD.

SECRETARY

30/11/2012

-

NA

8

ETERNAL ASIA SUPPLY CHAIN MANAGEMENT (S) PTE. LTD.

SECRETARY

31/10/2012

-

NA

9

ETERNAL ASIA SUPPLY CHAIN MANAGEMENT (S) PTE. LTD.

DIRECTOR

18/07/2012

-

NA

10

MARQUE VENTURES PTE. LTD.

SECRETARY

13/10/2012

-

NA

11

UNIQUE CONNECTION PTE. LTD.

SECRETARY

31/10/2012

-

NA

 

 

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 (%)

 

ETERNAL ASIA DISTRIBUTION (S) PTE. LTD.

100

ETERNAL ASIA (INDONESIA) PTE. LTD.

70

ETERNAL ASIA (VIETNAM) PTE. LTD.

70

MARQUE VENTURES PTE. LTD.

70

ETERNAL ASIA (PHILIPPINES) PTE. LTD.

70

ETERNAL ASIA (RESOURCES) PTE. LTD.

70

ETERNAL ASIA (THAILAND) PTE. LTD.

70

MAVERICK SERVICES (S) PTE. LTD.

70

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 4 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201214877

 

Date of Registration

:

18/12/2012

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

2)

Charge No.

:

C201214675

 

Date of Registration

:

13/12/2012

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

3)

Charge No.

:

C201210010

 

Date of Registration

:

03/09/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

4)

Charge No.

:

C201210006

 

Date of Registration

:

03/09/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2012

Date of Last AR

:

06/08/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage224

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

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

 

DEC 2011

% Change

DEC 2010

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

117,515,914

27.72

92,010,520

Profit/(Loss) Before Tax

2,101,577

35.74

1,548,243

Profit After Tax attributable to Shareholders

1,797,228

30.38

1,378,460

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

51,634,276

27.01

40,653,289

Current Assets

50,663,611

26.27

40,122,376

Non Current Assets

970,665

82.83

530,913

 

 

 

 

Total Liabilities

47,784,609

26.96

37,637,190

Current Liabilities

47,759,995

26.92

37,630,926

Non Current Liabilities

24,614

292.94

6,264

 

 

 

 

Shareholders' Funds

3,849,666

27.64

3,016,100

Share Capital

1,255,450

-8.09

1,365,921

Total Reserves

2,594,216

57.21

1,650,179

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2011

DEC 2010

Growth %

 

 

Year-on-Year Growth

27.72

NA

 

 

 

Profitability

 

 

Profit Margin (%)

1.53

1.50

Return on Equity (%)

46.69

45.70

Return on Assets (%)

3.48

3.39

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

12.41

12.48

Current Debt/Equity (Times)

12.41

12.48

Long Term Debt To Equity (Times)

0.01

0.00

Total Asset To Total Equity (Times)

13.41

13.48

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

2.28

2.26

Fixed Assets Turnover (Times)

121.07

173.31

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.06

1.07

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 1.53 per cent in FY11. The group is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales.

 

Liquidity

Current ratio stood at 1.06 times in FY11. This means that the group has SGD - SIN 1.06 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.

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 12.41 times in FY11. This means that the group requires additional external financing of SGD - SIN 12.41 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 46.69 per cent for Subject in the current financial period. 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 3.48 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 2.28 times in FY11. This ratio measures the group'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.54.85

UK Pound

1

Rs.88.39

Euro

1

Rs.72.63

 

 

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.