MIRA INFORM REPORT
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Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
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Name : |
IDEALL SOLUTIONZ SINGAPORE PTE. LTD. |
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Registered Office : |
71 UBI Crescent #06-06 Excalibur Centre Singapore 408571 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14.08.2002 |
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Com. Reg. No.: |
200207064Z |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
General Wholesale Trade (Including General Importers and Exporters) |
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No. of Employees
: |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Singapore |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
Notes: subject’s exact name and address are as
above.
Credit
Summary
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Credit Rating: |
|
|
Credit Opinion: |
Company
Identification Details
History
Subject was
incorporated on
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Vishal
Saxena |
150,000 |
50% |
|
Puja
Gill Saxena |
150,000 |
50% |
|
Total |
300,000 |
100% |
Major Shareholder
Information:
|
1 |
|
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Name: |
Vishal
Saxena |
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ID Number: |
S |
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Address: |
1
Sims View Singapore 416507 |
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2 |
|
|
Name: |
Puja
Gill Saxena |
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ID Number: |
S7473898B |
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Address: |
1
Sims View Singapore 416507 |
Subsidiaries &
Branches
RELATED OFFICE AND CONTACT PERSONS
|
1 |
|
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Contact Person: |
Ms. Maria Irene
I Penales |
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Address |
Dubai4b Street,
Villa #13, Jafilliya, Dubai UAE |
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Tel: |
+97-1508025746 |
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2 |
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Contact Person: |
Mr Ravi Kumar |
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Address |
# |
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Tel: |
+84-4-7622107/
+84-4-7622108 |
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3 |
|
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Contact Person: |
Mr Abhishek
Agarwal |
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Address |
#515 ParkView
Square, 960 Jie Fang Bei Road, Guangzhou - 510040, China |
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Tel: |
+86-20-36182130 |
Management
Information
Detailed Information
of Management:
|
1 |
|
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Name: |
Vishal Saxena |
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Position: |
Director |
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ID Number: |
S |
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Address: |
1 Sims View
Singapore 416507 |
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Nationality: |
Singapore
Citizen |
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Date of
Appointment: |
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2 |
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Name: |
Puja Gill Saxena |
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Position: |
Director |
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ID Number: |
S7473898B |
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Address: |
1 Sims View
Singapore 416507 |
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Nationality: |
Singapore
Citizen |
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Date of
Appointment: |
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3 |
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Name: |
Puja Gill Saxena |
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Position: |
Secretary |
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ID Number: |
S7473898B |
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Address: |
1 Sims View
Singapore 416507 |
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Nationality: |
Singapore
Citizen |
|
Date of Appointment: |
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Personnel
Structure
|
Total Employees |
Operation
Information
Offices
& Factories
|
|
Office |
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Address: |
71 Excalibur Centre #06-06 Singapore 408571 |
Production
Information
l
Subject is a trader of carpet
without any production activities itself.
Purchase
Information
l
Subject purchases mainly abroad from China and
Europe, etc
Sales
Information
l
Subject is engaged in sales of carpet and relevant materials, etc
l
Subject’s products are both sold in domestic and
overseas market and it is introduced that subject has offices in China, UAE and
Vietnam to deal with the local sales business.
Settlements
Purchase
Domestic Markets
Subject has little
domestic purchase
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Carpet and relevant materials, etc |
CBD, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Carpet and relevant materials, etc |
COD, etc |
100% |
Overseas Markets
|
Product |
Sales Terms |
Proportion |
|
Carpet and relevant materials, etc |
CBD, etc |
100% |
Balance
Sheet
(As of 2012.01, 1 SGD = 0.7773 USD)
Profit/Loss
Account
|
|
2006 (USD) |
2005 (SGD) |
2004 (SGD) |
|
Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
7,950,674.00 |
10,367,399.00 (USD 8,058,579) |
5,458,027.00 (USD 4,242,524) |
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Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
43,863.00 |
(7,425.00) |
36,094.00 |
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Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
38,300.00 |
(7,425.00) |
32,843.00 |
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Net Income/(Loss) From Extraordinary And Non-Operating
Items |
0.00 |
0.00 |
0.00 |
|
Profit/(Loss) After Tax and Extraordinary Items |
38,300.00 |
(7,425.00) (USD 5,771) |
32,843.00 (USD 25,529) |
(As of 2012.01, 1
SGD = 0.7773 USD)
Financial
Ratio
|
|
2006 |
2005 |
2004 |
|
Earning Capacity |
|
|
|
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Rate of Net Profit on Sales (%) |
0.48 |
(0.07) |
0.60 |
|
Return of Investment (%) |
4.91 |
(0.60) |
3.11 |
|
Return of Shareholder's Funds (%) |
31.15 |
(5.43) |
22.17 |
|
Total Assets Turnover (%) |
10.18 |
8.36 |
5.17 |
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Financial Stability |
|
|
|
|
Current/Working Capital Ratio (%) |
1.17 |
1.10 |
1.16 |
|
Proprietary Ratio (%) |
15.75 |
11.04 |
14.02 |
|
Total Debt to Equity Ratio (%) |
84.25 |
88.96 |
85.98 |
In Singapore, Limited Exempt Private Companies are not obligated to submit
their financial statements to the local registry. We did not find the latest
financials of subject from the local registry, the subject also declined to
disclose such information due to the confidentiality reason.
And we supplied the financial obtained from local registry for reference.
Bankers
Bank Charges:
|
Charge 1 |
|
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Charge Number: |
C200602253 |
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Date of
Registration: |
|
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Name: |
DBS Bank Ltd. |
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Amount Secured: |
All Monies |
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Charge 2 |
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Charge Number: |
C200704785 |
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Date of Registration: |
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Name: |
Australia And
New Zealand Banking Group Limited |
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Amount Secured: |
All Monies |
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Charge 3 |
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Charge Number: |
C200900548 |
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Date of
Registration: |
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Name: |
United Overseas
Bank Limited |
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Amount Secured: |
All Monies |
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Charge 4 |
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Charge Number: |
C201010333 |
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Date of
Registration: |
|
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Name: |
Citibank N.A. |
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Amount Secured: |
All Monies |
Auditors
|
Name: |
MGI N RAJAN
ASSOCIATES |
Interview Details
|
Name: |
Crystal |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
|
UK Pound |
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.