MIRA INFORM REPORT

 

 

Report Date :           

10.01.2012

 

IDENTIFICATION DETAILS

 

Name :

ASIA INTERNATIONAL PTE. LTD

 

 

Registered Office :

141 Cecil Street #02-02 Tung Ann Association Building Singapore 069541

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.12.2005

 

 

Com. Reg. No.:

200517839c

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters)

 

 

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$301,000

Status :

Satisfactory

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 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Executive Summary

 

Company Name

:

ASIA INTERNATIONAL PTE. LTD.

Registration No

:

200517839C

Date of Registration

:

27/12/2005

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

141 CECIL STREET #02-02 TUNG ANN ASSOCIATION BUILDING SINGAPORE 069541

Date of Change of Address

:

30/05/2011

Contact No.

:

6732 3491

Fax No.

:

6732 3875

Website

:

NA

Headquarters Office 

:

19 Tanglin Road #06-46Tanglin Shopping Centre Singapore 247999, Singapore

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

$1,210,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 1,210,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,210,000.00 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

:

S C MOHAN & ASSOCIATES

Bankers / Financiers

:

MALAYAN BANKING BERHAD

Turnover

:

SINGAPORE, DOLLARS 19,100,739.17 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 2,009,122.54 (FY2010)

No. of Bank Charges

:

2

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

855 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

774 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

75.1% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$301,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

TANU MERH

SHAREHOLDER ID

:

S7182245A

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

55 MERRYN ROAD DUNEARN ESTATE SINGAPORE 298503

NO. OF ORD SHARES

:

355,000

% OF SHAREHOLDING

:

29.3%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

MILLITH KARV ENGINEERING AND TRADING PRIVATE LIMITED

SHAREHOLDER ID

:

T06UF1415F

NATIONALITY

:

NA

ADDRESS

:

38, L.G.F. NEW MANADAKINI, NRI COMPLEX GREATER KAILASH - IV, NEW DELHI 19, INDIA

NO. OF ORD SHARES

:

333,000

% OF SHAREHOLDING

:

27.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

AJAY KUMAR DHAR

SHAREHOLDER ID

:

S2699761E

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

55 MERRYN ROAD DUNEARN ESTATE SINGAPORE 298503

NO. OF ORD SHARES

:

250,000

% OF SHAREHOLDING

:

20.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SABAS APPROTECH PROJECTS LIMITED

SHAREHOLDER ID

:

T06UF1414K

NATIONALITY

:

NA

ADDRESS

:

63 RISEBROUGH AVENUE, TORONTO M2M 2E2, ONTARIO, CANADA.

NO. OF ORD SHARES

:

167,000

% OF SHAREHOLDING

:

13.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

RAVINDER KUMAR KAUL

SHAREHOLDER ID

:

Z1748088

NATIONALITY

:

INDIAN

ADDRESS

:

34, 3RD FLOOR, NEW MANDAKINI, NRI COMPLEX, GREATER KAILASH IV, NEW DELHI 110048, INDIA

NO. OF ORD SHARES

:

70,000

% OF SHAREHOLDING

:

5.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

PRASHANT SUBODH SOPORY

SHAREHOLDER ID

:

G5186199

NATIONALITY

:

INDIAN

ADDRESS

:

41715 STEINBECK GLEN NOVI, MICHIGAN 48377 USA

NO. OF ORD SHARES

:

35,000

% OF SHAREHOLDING

:

2.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RAMESH KAUL

ADDRESS

:

34  111RD FLOOR NEW MANDAKINI, NRI COMPLEX GREATER KAILASH - IV, NEW DELHI 110048

POSITION

:

DIRECTOR

DATE OF APPT

:

03/01/2006

NATIONALITY

:

INDIAN

I/C PASSPORT

:

A6279133

 

NAME

:

DR. VIJAY KAUL

ADDRESS

:

63, RISEBROUGH AVENUE, NORTH YORK, TORONTO, M2M 2E2, ONTARIO, CANADA

POSITION

:

DIRECTOR

DATE OF APPT

:

03/01/2006

NATIONALITY

:

CANADIAN

I/C PASSPORT

:

BC210031

 

NAME

:

REETA KAUL

ADDRESS

:

34 111RD FLOOR NEW MANDAKINI, NRI COMPLEX GREATER KAILASH-4, NEW DELHI 110048, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

08/05/2006

NATIONALITY

:

INDIAN

I/C PASSPORT

:

E1355053

 

NAME

:

M SAMBASIVAM

ADDRESS

:

204 MARSILING DRIVE #12-192 SINGAPORE 730204

POSITION

:

SECRETARY

DATE OF APPT

:

27/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1650785G

 

NAME

:

AJAY KUMAR DHAR

ADDRESS

:

55 MERRYN ROAD DUNEARN ESTATE SINGAPORE 298503

POSITION

:

DIRECTOR

DATE OF APPT

:

27/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2699761E

 

NAME

:

TANU MERH

ADDRESS

:

55 MERRYN ROAD DUNEARN ESTATE SINGAPORE 298503

POSITION

:

DIRECTOR

DATE OF APPT

:

15/10/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7182245A

 

NAME

:

AUTAR KRISHEN DHAR

ADDRESS

:

58/1 BALLYGUNGE CIRCULAR ROAD, FLAT 101A, SAPTAPARNI BUILDING, KOLKATA - 700019

POSITION

:

DIRECTOR

DATE OF APPT

:

03/01/2006

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z021928

 

 

KEY PERSONNEL PROFILE

 

Name:

TANU MERH

NRIC Number:

S7182245A

Available Address:

55 MERRYN ROAD DUNEARN ESTATE  SINGAPORE 298503

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ASIA INTERNATIONAL PTE. LTD.

DIRECTOR

15/10/2007

355000

29.33

2

PAN ASIA INTERCONTINENTAL PTE. LTD.

DIRECTOR

11/10/2010

1

50.00

3

WOOD CRAFT INTERNATIONAL PTE. LTD.

DIRECTOR

06/03/2003

200000

10.00

 

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

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200602621

 

Date of Registration

:

24/04/2006

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

All Monies

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

2)

Charge No.

:

C200602619

 

Date of Registration

:

24/04/2006

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

All Monies

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

 

LITIGATION

 

Clear

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

31/08/2011

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

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

SGD - SIN

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

19,100,739

58.89

12,021,639

8,052,086

9,688,520

2,032,106

Profit/(Loss) Before Tax

629,026

105.49

306,113

8,058

228,236

71,777

Profit After Tax attributable to Shareholders

553,247

97.63

279,936

7,580

207,705

64,831

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

3,830,426

-7.04

4,120,470

2,134,143

3,067,983

1,929,723

Current Assets

3,775,361

-8.21

4,113,184

2,125,313

3,054,523

1,919,741

Non Current Assets

55,065

655.76

7,286

8,830

13,460

9,983

 

 

 

 

 

 

 

Total Liabilities

1,821,304

-24.66

2,417,417

754,211

1,826,942

840,214

Current Liabilities

1,821,304

-24.66

2,417,417

754,211

1,826,942

840,214

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

2,009,123

17.97

1,703,053

1,379,931

1,241,041

1,089,509

Share Capital

1,079,683

-6.49

1,154,613

1,119,575

971,848

1,024,678

Total Reserves

929,440

69.47

548,440

260,356

269,193

64,831

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

58.89

49.30

-16.89

376.77

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.90

2.33

0.09

2.14

3.19

Return on Equity (%)

27.54

16.44

0.55

16.74

5.95

Return on Assets (%)

14.44

6.79

0.36

6.77

3.36

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.91

1.42

0.55

1.47

0.77

Current Debt/Equity (Times)

0.91

1.42

0.55

1.47

0.77

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.91

2.42

1.55

2.47

1.77

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.99

2.92

3.77

3.16

1.05

Fixed Assets Turnover (Times)

346.88

1,649.96

911.90

719.80

203.56

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.07

1.70

2.82

1.67

2.28

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 75.1% (4 years).

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The company yielded a rate of net profit on sales of 2.90 per cent in FY10 (FY09: 2.33 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.03 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.02 a year ago.

 

Liquidity

Current ratio stood at 2.07 times in FY10 (FY09: 1.70 times). This means that the company has SINGAPORE, DOLLARS 2.07 of current assets for every SINGAPORE, DOLLARS 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 0.91 times in FY10, compared with 1.42 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.91 for every SINGAPORE, DOLLARS 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 27.54 per cent for Subject in the current financial period, as compared to 16.44 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 14.44 per cent (FY09: 6.79 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 4.99 times in FY10 (FY09: 2.92 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.52.73

UK Pound

1

Rs.81.34

Euro

1

Rs.67.01

 

 

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.