MIRA INFORM REPORT

 

 

Report Date :

14.02.2012

 

IDENTIFICATION DETAILS

 

Name :

WORLD PEACE INTERNATIONAL (SOUTH ASIA) PTE. LTD.

 

 

Formerly Known As :

WPG ELECTRONICS (SOUTH ASIA) PTE. LTD

 

 

Registered Office :

16 TAI SENG STREET #05-00 SINGAPORE 534138

 

 

Country :

Singapore

 

 

Financials (as on) :

Dec 2010

 

 

Date of Incorporation :

17.05.1995

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Electronic Components

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

S$1,000,000

Status :

Good

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

:

WORLD PEACE INTERNATIONAL (SOUTH ASIA) PTE. LTD.

Registration No

:

199503392K

Date of Registration

:

17/05/1995

Former Name

:

1.WPI INTERNATIONAL (SINGAPORE) PTE LTD Eff. date : 17/05/1995 Eff. date : 17/05/1995

2.WPG ELECTRONICS (SOUTH ASIA) PTE. LTD. Eff. date : 23/06/2007 Eff. date : 23/06/2007

Date of Change of Name

:

15/08/2011

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

16 TAI SENG STREET #05-00 SINGAPORE 534138

Date of Change of Address

:

28/12/2009

Contact No.

:

6282 5188

Fax No.

:

6280 4988

Website

:

www.wpi.com.sg

Registered Activities

:

1. MANUFACTURE OF COMPUTERS AND DATA PROCESSING EQUIPMENT EXCEPT COMPUTER PERIPHERAL EQUIPMENT

MANUF/REPAIR COMPUTERS & DATA PROCESS EQUIP

2. WHOLESALE OF ELECTRONIC COMPONENTS

Issued Ordinary Capital*

:

$36,414,692.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 34,314,692

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$36,414,692.00 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

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 501,297,713.00 (FY2010)

Net Worth

:

SGD - SIN 83,577,721.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

539 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

417 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

405 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

790 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

880 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000


SHAREHOLDER DETAILS

 

NAME

:

WORLD PEACE INTERNATIONAL PTE. LTD.

SHAREHOLDER ID

:

200005687E

NATIONALITY

:

SINGAPORE

ADDRESS

:

16 TAI SENG STREET #05-00 SINGAPORE 534138

NO. OF ORD SHARES

:

34,314,692

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHANG, JUNG-KANG @MIKE CHANG

ADDRESS

:

2FL-1, 12, LANE 219, SEC 1, FU-HSING SOUTH ROAD TAIPEI, TAIWAN

POSITION

:

DIRECTOR

DATE OF APPT

:

28/08/2008

NATIONALITY

:

TAIWANESE

I/C PASSPORT

:

132580881

 

NAME

:

TAN YEW TECK

ADDRESS

:

213 BEDOK SOUTH AVENUE 1 #04-12 CASAFINA SINGAPORE 469337

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/1997

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1683176Z

 

NAME

:

CHAI KIM YIN

ADDRESS

:

53 JALAN MAS PUTEH PASIR PANJANG GARDENS SINGAPORE 128644

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/1997

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2554307F

 

NAME

:

YAO SU MEI

ADDRESS

:

16 TAI SENG STREET SINGAPORE 534138

POSITION

:

DIRECTOR

DATE OF APPT

:

23/08/1995

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2685571C

 

NAME

:

LIN TSAI LI @ BARRY LIN

ADDRESS

:

6 MARINA BOULEVARD #19-22 SAIL @ MARINA BAY, THE SINGAPORE 018985

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

26/02/1996

26/02/1996

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2689685A

 

NAME

:

LIM CHIEW HAR

ADDRESS

:

698D HOUGANG STREET 52 #07-19 SINGAPORE 538698

POSITION

:

SECRETARY

DATE OF APPT

:

22/05/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7070795J

 

 

KEY PERSONNEL PROFILE

 

Name:

LIN TSAI LI @ BARRY LIN

NRIC Number:

S2689685A

Available Address:

6 MARINA BOULEVARD #19-22 SAIL @ MARINA BAY, THE  SINGAPORE 18985

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DA & DA ELECTRONICS PTE. LTD.

DIRECTOR

17/08/2010

-

-

2

E-PROG TECHNOLOGY PTE. LTD.

DIRECTOR

21/04/2003

-

-

3

GENUINE C&C (INDOCHINA) PTE. LTD.

DIRECTOR

23/05/2002

-

-

4

GENUINE C&C (SOUTH ASIA) PTE LTD

DIRECTOR

05/01/2001

-

-

5

NEUTRINOS ENGINEERING PTE. LTD.

DIRECTOR

08/09/2011

8700

87.00

6

RICHPOWER ELECTRONIC DEVICES PTE. LTD.

DIRECTOR

01/12/2005

-

-

7

TEKSEL WPG LIMITED (SINGAPORE BRANCH)

AGENT

20/02/2006

-

-

8

WORLD PEACE INTERNATIONAL (SOUTH ASIA) PTE. LTD.

DIRECTOR

26/02/1996

-

-

9

WORLD PEACE INTERNATIONAL (SOUTH ASIA) PTE. LTD.

MANAGING DIRECTOR

26/02/1996

-

-

10

WORLD PEACE INTERNATIONAL PTE. LTD.

DIRECTOR

29/06/2000

-

-

11

WPG SYSTEM PTE. LTD.

DIRECTOR

05/01/2001

-

-

12

WPG SYSTEM PTE. LTD.

MANAGING DIRECTOR

15/01/2001

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

DATAWEB PTE LTD

STRUCK OFF

DIRECTOR

18/03/2003

-

2

EEC TECHNOLOGY (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR/SHR

22/04/1998

-

3

GENUINE C&C (INDOCHINA) PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

05/01/2012

4

GENUINE C&C (SOUTH ASIA) PTE LTD

LIVE COMPANY

SHAREHOLDER

-

05/01/2012

5

INNOVATION LAB CORP PTE. LTD.

STRUCK OFF

DIRECTOR

08/03/2005

-

6

WORLD PEACE INTERNATIONAL (SOUTH ASIA) PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

31/01/2012

7

WORLD PEACE INTERNATIONAL PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

31/01/2012

8

WPG SYSTEM PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

17/11/2011

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

Litigation Search – Writ of Summons

 

Court

Case No.

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

:

11/04/2011

Date of Last AR

:

29/04/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

 FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

501,297,713

14.00

439,723,140

508,249,361

490,243,187

507,210,388

Profit/(Loss) Before Tax

9,113,418

175.86

3,303,654

10,188,398

16,091,192

17,761,187

Profit After Tax attributable to Shareholders

7,588,026

163.43

2,880,453

8,291,659

13,412,104

14,526,475

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

169,110,530

8.83

155,396,706

139,749,860

154,596,278

151,906,171

Current Assets

167,473,899

8.32

154,608,671

138,956,787

154,016,551

151,292,500

Non Current Assets

1,636,631

107.69

788,035

793,073

579,727

613,671

 

 

 

 

 

 

 

Total Liabilities

85,532,810

15.37

74,136,290

63,748,443

82,488,812

82,099,701

Current Liabilities

85,532,810

15.37

74,136,290

63,748,443

82,488,812

82,099,701

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

83,577,721

2.85

81,260,417

76,001,416

72,107,466

69,806,470

Share Capital

29,628,864

-6.49

31,683,952

30,722,460

32,717,865

34,495,880

Total Reserves

53,948,857

8.82

49,576,465

45,278,956

39,389,601

35,310,590

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

14.00

-13.48

3.67

-3.35

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.51

0.66

1.63

2.74

2.86

Return on Equity (%)

9.08

3.54

10.91

18.60

20.81

Return on Assets (%)

4.49

1.85

5.93

8.68

9.56

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.02

0.91

0.84

1.14

1.18

Current Debt/Equity (Times)

1.02

0.91

0.84

1.14

1.18

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.02

1.91

1.84

2.14

2.18

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.96

2.83

3.64

3.17

3.34

Fixed Assets Turnover (Times)

306.30

558.00

640.86

845.64

826.52

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.96

2.09

2.18

1.87

1.84

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 1.51 per cent in FY10 (FY09: 0.66 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.96 times in FY10 (FY09: 2.09 times). This means that the company has SGD - SIN 1.96 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.

 

 

 

Leverage

Total debt-to-equity ratio notched 1.02 times in FY10, compared with 0.91 times in FY09. This means that the company requires additional external financing of SGD - SIN 1.02 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 9.08 per cent for Subject in the current financial period, as compared to 3.54 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 4.49 per cent (FY09: 1.85 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 2.96 times in FY10 (FY09: 2.83 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.49.31

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.