MIRA INFORM REPORT

Report Date :

08.06.2012

IDENTIFICATION DETAILS

Name :	KEC SINGAPORE PTE LTD
Registered Office :	50 Kallang Avenue #04-04
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	08.07.1993
Com. Reg. No.:	199304375G
Legal Form :	Limited Private Company
Line of Business :	Wholesale Of Electronic Components
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor
Payment Behaviour :	Unknown
Litigation :	Exists

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 (31.12.2011)	Current Rating (31.03.2012)
Singapore	A1	A1

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

Company Name:	Registered Number:
KEC SINGAPORE PTE LTD	199304375G

Date Incorporated:	Registered Office:	Telephone Number:
08/07/1993	50 KALLANG AVENUE #04-04 SINGAPORE 339505	6748 7372
Age of Company:	Website:	Industry Type:
19	NA	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		2
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
25

Directors		Corporate Structure
Number of Current Directors	27	Holding Company:	KEC CORP
Number that are shareholders	2	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	KEC SINGAPORE PTE LTD
Registration No	:	199304375G
Date of Registration	:	08/07/1993
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	50 KALLANG AVENUE #04-04 SINGAPORE 339505
Date of Change of Address	:	28/07/2003
Contact No.	:	6748 7372
Fax No.	:	6748 1526
Website	:	NA
Registered Activities	:	WHOLESALE OF ELECTRONIC COMPONENTS TRADE IN ELECTRICAL AND ELECTRONIC PARTS AND COMPONENTS
Issued Ordinary Capital*	:	$500,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 500,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$500,000.00 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	:	STRATEGIC AUDIT ALLIANCE PAC
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 40,029,470.00 (FY2011)
Net Worth	:	SINGAPORE, DOLLARS (3,068,324.00) (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	2
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	KEC CORP
SHAREHOLDER ID	:	T08UF0065J
NATIONALITY	:	KOREA, REPUBLIC OF
ADDRESS	:	KEC BUILDING 275-7 YANGJAE DONG SEOCHO-KU SEOUL SOUTH KOREA
NO. OF ORD SHARES	:	499,998
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	PARK SANG UK
SHAREHOLDER ID	:	G5668498R
NATIONALITY	:	KOREAN, SOUTH
ADDRESS	:	55 TAMPINES AVENUE 1 #06-02 TROPICA, THE SINGAPORE 529773
NO. OF ORD SHARES	:	2
% OF SHAREHOLDING	:	0%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	PARK SANG UK
ADDRESS	:	55 TAMPINES AVENUE 1 #06-02 TROPICA, THE SINGAPORE 529773
POSITION	:	DIRECTOR
DATE OF APPT	:	08/01/2011
NATIONALITY	:	KOREAN, SOUTH
I/C PASSPORT	:	G5668498R
NAME	:	PARK MYEONGDEOG
ADDRESS	:	SHINSEUNG PARKVILL 101-301, OGEUM-DONG 114-45, SONGPA-GU, SEOUL, KOREA
POSITION	:	DIRECTOR
DATE OF APPT	:	10/06/2011
NATIONALITY	:	KOREAN, SOUTH
I/C PASSPORT	:	JR3583490
NAME	:	PARK HEUNGKI
ADDRESS	:	JUGONG 1 DANJI APT 102-211, 660-3, GAEPO DONG GANGNAM-GU, SEOUL, KOREA
POSITION	:	DIRECTOR
DATE OF APPT	:	10/06/2011
NATIONALITY	:	KOREAN, SOUTH
I/C PASSPORT	:	JR4012507
NAME	:	LEE SHIN HEE
ADDRESS	:	HYUNDAI I-PARK 207-1201, HOWON1-DONG UIJEONGBU-SI, KYUNGKI-DO, KOREA
POSITION	:	DIRECTOR
DATE OF APPT	:	10/06/2011
NATIONALITY	:	KOREAN, SOUTH
I/C PASSPORT	:	M69710641
NAME	:	KIM KYUNG DUK
ADDRESS	:	103-1404 WOORIM FEELYOU APT. 108-15 KONGDAN-DONG KUMI-SI, KYEONGSANGBUKDO KOREA
POSITION	:	DIRECTOR
DATE OF APPT	:	01/12/2011
NATIONALITY	:	KOREAN, SOUTH
I/C PASSPORT	:	M76882650
NAME	:	NEO LAY HIANG PAMELA
ADDRESS	:	28 JALAN JORAN SELETAR HILLS ESTATE SINGAPORE 809095
POSITION	:	SECRETARY
DATE OF APPT	:	17/01/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1464993Z

KEY PERSONNEL PROFILE

Name:	PARK SANG UK
NRIC Number:	G5668498R
Available Address:	1 SIN MING AVENUE #27-01 FLAME TREE PARK SINGAPORE 575728

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	KEC SINGAPORE PTE LTD	DIRECTOR	08/01/2011	2	0.00
2	RAYVIS SINGAPORE PTE. LTD.	DIRECTOR	26/03/2012	50000	50.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	KEC SINGAPORE PTE LTD	LIVE COMPANY	DIRECTOR	25/07/2002	25/06/2011

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.	Transfer	Year	Date of Filing	Amount	Cause Category
No Trace

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

There have been 2 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2012	Past Years Bef 01 Jan 2012
Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	1
District ($80,000 - $250,000)	0	1
High (>$250,000)	0	0
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	District Court
	Case No.	:	4071
	Transfer	:	-
	Date of Filing	:	26/08/2004
	Amount	:	4,337.15
	Cause	:	Tort - Negligence (Motor Accidents With Injury)
	Case Status	:	PENDING
	Plaintiff	:	YEO SENG HUAT
2)	Court	:	Magistrate Court
	Case No.	:	4401
	Transfer	:	-
	Date of Filing	:	24/02/2007
	Amount	:	3,249.60
	Cause	:	Tort - Negligence (Motor Accidents Without Death/ Injury)
	Case Status	:	PENDING
	Plaintiff	:	FERNANDEZ GERALD TIERNEY

COMPLIANCE RECORDS

Date of Last AGM	:	03/04/2012
Date of Last AR	:	09/04/2012
Date of A/C Laid At Last AGM	:	31/12/2011

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	40,029,470	-28.10	55,673,161	47,435,633	59,547,509	60,766,589
Profit/(Loss) Before Tax	(814,534)	NA	687,645	(492,433)	(2,114,056)	7,079
Profit After Tax attributable to Shareholders	(814,534)	NA	687,645	(492,433)	(2,114,056)	7,079
Balance Sheet Key Figures
Total Assets	9,995,881	-0.77	10,073,079	13,978,100	13,159,611	20,748,025
Current Assets	9,981,062	-0.75	10,056,339	13,963,120	13,128,811	20,686,323
Non Current Assets	14,819	-11.48	16,740	14,980	30,800	61,702
Total Liabilities	13,064,205	5.98	12,326,869	16,919,535	15,608,613	21,082,971
Current Liabilities	13,064,205	1,231.13	981,436	936,029	1,098,154	5,311,025
Non Current Liabilities	0	-100.00	11,345,433	15,983,506	14,510,459	15,771,946
Shareholders' Funds	(3,068,324)	NA	(2,253,790)	(2,941,435)	(2,449,002)	(334,946)
Share Capital	500,000	0.00	500,000	500,000	500,000	500,000
Total Reserves	(3,568,324)	NA	(2,753,790)	(3,441,435)	(2,949,002)	(834,946)

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	-28.10	17.37	-20.34	-2.01	NA
Profitability
Profit Margin (%)	-2.03	1.24	-1.04	-3.55	0.01
Return on Equity (%)	26.55	-30.51	16.74	86.32	-2.11
Return on Assets (%)	-8.15	6.83	-3.52	-16.06	0.03
Leverage
Total Debt/Equity (Times)	-4.26	-5.47	-5.75	-6.37	-62.94
Current Debt/Equity (Times)	0.00	0.00	0.00	0.00	0.00
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	-3.26	-4.47	-4.75	-5.37	-61.94
Asset Management
Total Assets Turnover (Times)	4.00	5.53	3.39	4.53	2.93
Fixed Assets Turnover (Times)	2,701.23	3,325.76	3,166.60	1,933.36	984.84
Liquidity
Current Ratio (Times)	0.76	10.25	14.92	11.96	3.89

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 0.76 times in FY11 (FY10: 10.25 times). This means that the company has SINGAPORE, DOLLARS 0.76 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.

FINANCIAL COMMENTARY

Leverage

We are unable to comment on Subject's leverage.

Efficiency Ratio

Return on equity was 26.55 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.

We are unable to comment on Subject's return on assets.

Total assets turnover ratio logged at 4.00 times in FY11 (FY10: 5.53 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.55.14
UK Pound	1	Rs.85.22
Euro	1	Rs.69.24

INFORMATION DETAILS

Report Prepared by :

SDA

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.