MIRA INFORM REPORT

Report Date :

08.02.2012

IDENTIFICATION DETAILS

Name :	NEW TSINGYI PTE. LTD.
Registered Office :	10 Kranji Crescent Singapore 728660
Country :	Singapore
Financials (as on) :	31.12.2009
Date of Incorporation :	29.07.2009
Com. Reg. No.:	200913839K
Legal Form :	Limited Private Company
Line of Business :	Recycling of Metal Waste and Scrap

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 :	New Company
Payment Behaviour :	Unknown
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, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
Singapore	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Executive Summary

Company Name	:	New Tsingyi Pte. Ltd.
Registration No	:	200913839K
Date of Registration	:	29/07/2009
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	10 KRANJI CRESCENT SINGAPORE 728660
Date of Change of Address	:	29/07/2009
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	RECYCLING OF METAL WASTE AND SCRAP
Issued Ordinary Capital*	:	$400,000.00 SINGAPORE, DOLLARS NO. OF SHARE : 400,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$400,000.00 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	:	MOORE STEPHENS LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 5,021,275.00 (FY2009)
Net Worth	:	SGD - SIN 313,027.00 (FY2009)
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

Credit Recommendation

Recommended Credit Line

:

No Recommendation

SHAREHOLDER DETAILS

NAME	:	ADVANCE SCT LIMITED
SHAREHOLDER ID	:	200404283C
NATIONALITY	:	SINGAPORE
ADDRESS	:	10 KRANJI CRESCENT SINGAPORE 728660
NO. OF ORD SHARES	:	200,400
% OF SHAREHOLDING	:	50.1%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	SOON SING METAL TRADING SDN BHD
SHAREHOLDER ID	:	T09UF1875D
NATIONALITY	:	NA
ADDRESS	:	GERAN 83786 LOT 5638, JALAN SEELONG, SENAI 81400 JOHOR BAHRU, MALAYSIA
NO. OF ORD SHARES	:	199,600
% OF SHAREHOLDING	:	49.9%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LIM CHWEE POH
ADDRESS	:	9 PAVILION RISE SINGAPORE 658644
POSITION	:	DIRECTOR
DATE OF APPT	:	29/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0020149I
NAME	:	TAN SENG KIAH
ADDRESS	:	679A JURONG WEST CENTRAL 1 #05-28 SINGAPORE 641679
POSITION	:	DIRECTOR
DATE OF APPT	:	29/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1132644G
NAME	:	TAN ENG KIAT
ADDRESS	:	143 TAMPINES STREET 12 #08-414 SINGAPORE 520143
POSITION	:	SECRETARY
DATE OF APPT	:	29/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1793636J
NAME	:	DARREN TAN POON GUAN
ADDRESS	:	548 JURONG WEST STREET 42 #08-169 SINGAPORE 640548
POSITION	:	DIRECTOR
DATE OF APPT	:	29/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7037896E
NAME	:	KWOK MEEI YING, MONICA
ADDRESS	:	136 WESTWOOD CRESCENT WESTVILLE SINGAPORE 648503
POSITION	:	DIRECTOR
DATE OF APPT	:	29/07/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7241427F

KEY PERSONNEL PROFILE

Name:	LIM CHWEE POH
NRIC Number:	S0020149I
Available Address:	9 PAVILION RISE SINGAPORE 658644

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	INTECHCO SYSTEMS PTE LTD	DIRECTOR	01/03/2005	1	50.00
2	JURONG BARRELS & DRUMS INDUSTRIES PTE. LTD.	DIRECTOR	17/11/1983	-	NA
3	JURONG BARRELS & DRUMS INDUSTRIES PTE. LTD.	MANAGER	17/11/1983	-	NA
4	KDS STEEL PTE. LTD.	DIRECTOR	23/11/2005	-	NA
5	NEW TSINGYI PTE. LTD.	DIRECTOR	29/07/2009	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	HHH LOGISTICS	TERMINATION	OWNER	07/02/2004	-
2	HONG HUAT HUNG INDUSTRIAL PTE LTD	LIVE COMPANY	DIRECTOR/SHR	10/05/1991	16/09/2010
3	INDUSTRIES DRUM MACHINERY ENTERPRISES	CANCELLATION	OWNER	27/12/1993	-
4	JURONG BARRELS & DRUMS INDUSTRIES PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	21/09/2010
5	KIAH POH FOODS INDUSTRIES PTE LTD	STRUCK OFF	DIRECTOR	26/05/1992	-
6	LIBRAN SUN ENGINEERING CONSTRUCTION	TERMINATION	OWNER	24/07/2003	23/10/2003
7	LIM CHWEE POH TRADING CO	LIVE	OWNER	17/08/1976	22/02/1994
8	MASTER OILS INDUSTRIES PTE. LTD.	LIVE COMPANY	DIRECTOR	27/06/1987	24/04/2009
9	ONG KAH HOE INDUSTRIAL PTE LTD	LIVE COMPANY	DIRECTOR	12/01/1989	14/09/2010
10	PACE MARINE SERVICES	TERMINATION	OWNER	01/08/2002	-
11	PIN FOODS (PTE.) LTD.	STRUCK OFF	DIRECTOR/SHR	22/11/1990	16/04/2003

KEY PERSONNEL PROFILE

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
12	WEI LEE BRIDAL BOUTIQUE PHOTO & BEAUTY SALOON	TERMINATION	OWNER	22/02/1989	16/05/1996

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
M	5736	2010	08/03/2010	SGD 3,568.00	Negligence Related
M	20963	2002	24/07/2002	-	Negligence Related
D	2338	2001	15/06/2001	SGD 203,100.00	-
M	60828	1999	25/11/1999	SGD 44,717.04 SGD 156.80	Property Related
D	1855	1996	09/05/1996	SGD 45,315.00	Property Related
D	3436	1995	24/08/1995	SGD 30,427.00	Contracts Related

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

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 RECORDS

Date of Last AGM	:	28/06/2010
Date of Last AR	:	15/07/2010
Date of A/C Laid at Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	29 JULY 2009 - DEC 2009
Currency	SGD - SIN
Profit and Loss Key Figures
Turnover	5,021,275
Profit/(Loss) Before Tax	(86,973)
Profit After Tax attributable to Shareholders	(86,973)
Balance Sheet Key Figures
Total Assets	2,081,978
Current Assets	2,081,978
Non Current Assets	0
Total Liabilities	1,768,951
Current Liabilities	1,768,951
Non Current Liabilities	0
Shareholders' Funds	313,027
Share Capital	400,000
Total Reserves	(86,973)

FINANCIAL RATIOS

	Company
	29 JULY 2009 - DEC 2009
Growth %
Year-on-Year Growth	0
Profitability
Profit Margin (%)	-1.73
Return on Equity (%)	-27.78
Return on Assets (%)	-4.18
Leverage
Total Debt/Equity (Times)	5.65
Current Debt/Equity (Times)	5.65
Long Term Debt To Equity (Times)	NA
Total Asset To Total Equity (Times)	6.65
Asset Management
Total Assets Turnover (Times)	2.41
Fixed Assets Turnover (Times)	NA
Liquidity
Current Ratio (Times)	1.18

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability as Subject posted losses for the financial year end under review.

Liquidity

Current ratio stood at 1.18 times in FY09. This means that the company has SGD - SIN 1.18 of current assets for every SGD - SIN of current liability incurred. Subject's current ratio is noted to be within the industry norm for the sector in which the company is operating.

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 liabilities-to-equity ratio notched at 5.65 times in FY09. This means that the company requires additional external financing of SGD - SIN 5.65 for every SGD - SIN injected into its operations. Subject's total liability-to-equity is noted to be higher than the industry norm for the sector in which the company is operating.

Generally, a total liability-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 as Subject posted losses for the financial year end under review.

We are unable to comment on Subject's return on assets as Subject posted losses for the financial year end under review.

Total assets turnover ratio logged at 2.41 times in FY09. 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.48.91
UK Pound	1	Rs.77.30
Euro	1	Rs.64.11

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

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.