MIRA INFORM REPORT

 

 

Report Date :

14.02.2012

 

IDENTIFICATION DETAILS

 

Name :

ADVENT ELECTRONICS INTERNATIONAL PTE. LTD.

 

 

Registered Office :

10 Ubi Crescent #02-27 Ubi Techpark Singapore 408564

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

20.05.2009

 

 

Com. Reg. No.:

200908865H

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale Of Electronic Components

 

 

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

 

Maximum Credit Limit :

S$51,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

:

Advent Electronics International Pte. Ltd.

Registration No

:

200908865H

Date of Registration

:

20/05/2009

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

Limited Private Company

Registered Address

:

10 UBI CRESCENT #02-27 UBI TECHPARK SINGAPORE 408564

Date of Change of Address

:

14/07/2011

Contact No.

:

65472988

Fax No.

:

NA

Website

:

NA

Registered Activities

:

Wholesale Of Electronic Components

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

Entrust Public Accounting Corporation

Bankers / Financiers

:

Bank Of India

Turnover

:

$4,501,106.00 (FY2010)

Net Worth

:

$1,023,697.00 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

S$51,000

 

SHAREHOLDER DETAILS

 

NAME

:

FINDCHIP ONLINE SINGAPORE PTE. LTD.

SHAREHOLDER ID

:

200820867M

NATIONALITY

:

SINGAPORE

ADDRESS

:

10 UBI CRESCENT #02-27 UBI TECHPARK SINGAPORE 408564

NO. OF ORD SHARES

:

999,200

% OF SHAREHOLDING

:

99.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

PATKAR DINESH SHRIKANT

SHAREHOLDER ID

:

G0995306

NATIONALITY

:

INDIAN

ADDRESS

:

B/10, THREE STAR CO-OP-HSG SOC CHEDDA NAGAR, CHEMBUR, MUMBAI 400089, INDIA

NO. OF ORD SHARES

:

200

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

GURJAR SHEKHAR GAJANAN

SHAREHOLDER ID

:

G3344156

NATIONALITY

:

INDIAN

ADDRESS

:

GIRIRAJ RESIDENCY NO.2, FLAT NO.5 BIJALI  NAGAR CHINCHWAD, PUNE 411033, INDIA

NO. OF ORD SHARES

:

200

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TEO KIA HWA

SHAREHOLDER ID

:

S1235069D

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

147 SIMEI STREET 2 #03-54 SINGAPORE 520147

NO. OF ORD SHARES

:

200

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

YEO THIAM TECK

SHAREHOLDER ID

:

S1737395A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

5 FLORA DRIVE #07-19 DAHLIA PARK CONDOMINIUM SINGAPORE 507011

NO. OF ORD SHARES

:

200

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

JAIN SANJAYKUMAR PUKHRAJ

ADDRESS

:

10 UBI CRESCENT #02-27 UBI TECHPARK SINGAPORE 408564

POSITION

:

DIRECTOR

DATE OF APPT

:

20/05/2009

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G5175753Q

 

NAME

:

JAIN CHIRAG VASANT

ADDRESS

:

NILKANTH VIHAR, FLAT NO.404, BLDG A/8 AJMERA SOCIETY, 384 BHAWANI PETH, PUNE - 411042, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

20/05/2009

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H4532972

 

NAME

:

LUK CHIEW PENG

ADDRESS

:

73 CHOA CHU KANG LOOP #06-09 NORTHVALE SINGAPORE 689674

POSITION

:

SECRETARY

DATE OF APPT

:

20/05/2009

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6970685A

 

 

KEY PERSONNEL PROFILE

 

Name:

JAIN SANJAYKUMAR PUKHRAJ

NRIC Number:

G5175753Q

Available Address:

10 UBI CRESCENT #02-27 UBI TECHPARK  SINGAPORE 408564

 

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.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

Negative List (if any)

 

Traces

Status

Last Updated Date

No Trace

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

Company

Shareholdings (%)

 

NA

 

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201005703

 

Date of Registration

:

06/07/2010

 

Chargee

:

BANK OF INDIA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

138 ROBINSON ROAD #01-01/02-01/03-01 THE CORPORATE OFFICE SINGAPORE 068906

 

 

 

             

 

 

 

LITIGATION

 

Clear

 

COMPLIANCE RECORDS

 

Date of Last AGM

 :

16/03/2011

Date of Last AR

 :

31/03/2011

Date of A/C Laid at Last AGM

 :

31/03/2010

 

 

FINANCIAL HIGHLIGHTS

 

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

 

20/05/2009 to

31/03/2010

$

Turnover

4,501,106

Profit Before Tax and Minority Interest

9,428

Profit After Tax and Minority Interest

9,428

ASSETS

 

Current Assets

1,748,138

Non-current Assets

344,939

- Fixed Assets

50,442

- Intangible Assets

294,497

- Long-term Investments

0

Total Assets

2,093,077

LIABILITIES

 

Current Liabilities

1,069,381

Long-Term Liabilities

0

Total Liabilities

1,069,381

SHAREHOLDERS’ FUNDS

 

Share Capital

1,014,270

Share Premium

0

Retained Earnings

9,428

Minority Interest

0

Other Reserves

(1)

Shareholders Funds

1,023,697

 

Financial figures are presented in USD - USA as reflected in Subject's financial statements and are converted to S$ at the rate of S$1.419182 per USD - USA in FYE10 as presented in this report.

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

20/05/2009 to

31/03/2010

PROFITABILITY

 

  Rate of Net Profit (%)

0.21

  Return on Equity (%)

0.92

  Return on Assets (%)

0.45

  Return on Capital Employed

0.01

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

1.04

  Current Liabilities/Equity (times)

1.04

  Long Term Liabilities/Equity (times)

0.00

  Debt Service Cover Ratio

NA

  Short-term Borrowings-to-cash Ratio

NA

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

2.15

  Fixed Assets Turnover (times)

13.05

  Interest Coverage Ratio

NA

  Average Payment Period (days)

61

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

1.63

  Quick Ratio (times)

1.25

  Average Collection Period (days)

79

 

FINANCIAL COMMENTARY

 

Profitability

 

 

The company yielded a rate of net profit on sales of 0.21 per cent in FY10. The company is now able to book in $0.00 of profit for every dollar of sales.

 

 

Liquidity

 

Current ratio stood at 1.63 times in FY10. This means that the company has $1.63 of current assets for every dollar 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.

 

FINANCIAL COMMENTARY

 

Leverage

Total liabilities-to-equity ratio notched 1.04 times in FY10. This means that the company requires additional external financing of $1.04 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be within 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

 

Return on equity was 0.92 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 0.45 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 2.15 times in FY10. 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.49.32

UK Pound

1

Rs.77.84

Euro

1

Rs.65.35

 

 

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.