MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

PERFEX INTERNATIONAL PRIVATE LIMITED

 

 

Formerly Known As :

TECHSOLVE PTE. LTD. Eff

 

 

Registered Office :

71 Tech Park Crescent Singapore 638072

 

 

Country :

Singapore

 

 

Financials (as on) :

JUN 2011

 

 

Date of Incorporation :

08.01.1999

 

 

Com. Reg. No.:

199900113R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacturing Of Industrial Radiators And Heat Exchangers.

 

 

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

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Exist

 

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 – March 31st, 2012

 

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:

PERFEX INTERNATIONAL PRIVATE LIMITED

199900113R

 

Date Incorporated:

Registered Office:

Telephone Number:

08/01/1999

71 TECH PARK CRESCENT SINGAPORE 638072

6863 1911

Age of Company:

Website:

Industry Type:

13

NA

MANUFACTURING

 

Credit Assessment

 

 

Risk Dashboard

Risk & Rating

Days Beyond Terms

Trend:

No. of Litigation Counts:

Credit Limit:

Company DTC:

1

No Recommendation

28

 

Payment pattern as per previous month

No. of Charges(s):
1

 

Industry DTC

 

27

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

IPS GROUP PTE. LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 EXECUTIVE SUMMARY

 

Company Name

:

PERFEX INTERNATIONAL PRIVATE LIMITED

Registration No

:

199900113R

Date of Registration

:

08/01/1999

Former Name

:

1.IPS PAVEMENT TECHNOLOGIES PTE LTD Eff. date : 08/01/1999 Eff. date : 08/01/1999

2.IPS-RITMO ASIA PACIFIC PTE LTD Eff. date : 01/08/2000 Eff. date : 01/08/2000

3.IPS EQUIPMENT PTE. LTD. Eff. date : 01/08/2002 Eff. date : 01/08/2002

4.TECHSOLVE PTE. LTD. Eff. date : 20/01/2003 Eff. date : 20/01/2003

Date of Change of Name

:

30/08/2005

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

71 TECH PARK CRESCENT SINGAPORE 638072

Date of Change of Address

:

NA

Contact No.

:

6863 1911

Fax No.

:

68631511

Website

:

NA

Registered Activities

:

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

MANUFACTURING OF INDUSTRIAL RADIATORS AND HEAT EXCHANGERS

2. OTHER INVESTMENT HOLDING COMPANIES

PROVISION OF REPAIR AND MAINTENANCE SERVICES

Issued Ordinary Capital*

:

$1,700,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,700,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,700,000.00 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

:

SMALLEY & CO

Bankers / Financiers

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

Turnover

:

SINGAPORE, DOLLARS 6,986,923.00 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 1,919,477.00 (FY2011)

No. of Bank Charges

:

1

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

1494 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

66.87% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

IPS GROUP PTE. LTD.

SHAREHOLDER ID

:

198601426E

NATIONALITY

:

SINGAPORE

ADDRESS

:

71 TECH PARK CRESCENT SINGAPORE 638072

NO. OF ORD SHARES

:

1,700,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

TAN SUAN YAP

ADDRESS

:

94 THOMSON GREEN THOMSON HILLS ESTATE SINGAPORE 574961

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/1999

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0142491B

 

NAME

:

CHAN TIEN LOK

ADDRESS

:

10A GALISTAN AVENUE SINGAPORE 669684

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/1999

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0158764A

 

NAME

:

ONG SIEW PENG

ADDRESS

:

151 TAMARIND ROAD CAMELIA PARK SINGAPORE 806098

POSITION

:

DIRECTOR

DATE OF APPT

:

19/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0165849B

 

NAME

:

TAN AH KIM

ADDRESS

:

10A GALISTAN AVENUE SINGAPORE 669684

POSITION

:

SECRETARY

 

DATE OF APPT

:

08/04/1999

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1215501H

 

NAME

:

ONG CHIN HIN

ADDRESS

:

169 JALAN JURONG KECHIL #01-14 SHERWOOD CONDOMINIUM SINGAPORE 598669

POSITION

:

DIRECTOR

DATE OF APPT

:

19/03/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1628884E

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TAN SUAN YAP

NRIC Number:

S0142491B

Available Address:

94 THOMSON GREEN THOMSON HILLS ESTATE  SINGAPORE 574961

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ECO-WIZ (SG) PTE. LTD.

DIRECTOR

06/09/2010

-

-

2

ECO-WIZ GROUP PTE. LTD.

DIRECTOR

06/09/2010

-

-

3

EUROPOWER TECHNOLOGY PTE. LTD.

DIRECTOR

05/10/2006

-

-

4

EUROPOWER TECHNOLOGY PTE. LTD.

MANAGING DIRECTOR

10/03/2009

-

-

5

IPS GROUP PTE. LTD.

DIRECTOR

23/03/1991

2205000

35.00

6

IPS GROUP PTE. LTD.

MANAGING DIRECTOR

30/12/1995

2205000

35.00

7

IPS LEASING PTE. LTD.

DIRECTOR

03/11/2009

-

-

8

IPS SECUREX PTE. LTD.

DIRECTOR

26/10/1991

-

-

9

IPS SECUREX PTE. LTD.

MANAGING DIRECTOR

27/03/2012

-

-

10

IPS SECURITY AND AVIATION PTE. LTD.

DIRECTOR

28/03/1991

-

-

11

IPS SECURITY AND AVIATION PTE. LTD.

MANAGING DIRECTOR

19/04/1991

-

-

12

IPS TECHNOLOGIES PTE. LTD.

DIRECTOR

03/08/1994

-

-

13

IPS TECHNOLOGIES PTE. LTD.

MANAGING DIRECTOR

27/03/2012

-

-

14

IPS-EUROTEC ASIA PACIFIC PTE. LTD.

DIRECTOR

23/03/1991

-

-

15

IPS-EUROTEC ASIA PACIFIC PTE. LTD.

MANAGING DIRECTOR

27/01/1992

-

-

16

IPS-LINTEC ASIA PACIFIC PTE LTD

DIRECTOR

23/03/1991

-

-

17

IPS-LINTEC ASIA PACIFIC PTE LTD

MANAGING DIRECTOR

27/01/1992

-

-

18

LINNHOFF TECHNOLOGIES PTE. LTD.

DIRECTOR

08/01/2003

-

-

19

LINNHOFF TECHNOLOGIES PTE. LTD.

MANAGING DIRECTOR

18/10/2004

-

-

20

PERFEX INTERNATIONAL PRIVATE LIMITED

DIRECTOR

08/01/1999

-

-

21

POWERSOURCE INTERNATIONAL PTE. LTD.

DIRECTOR

01/06/2005

-

-

22

SINGAPORE RADIATION CENTRE PTE. LTD.

DIRECTOR

19/03/2010

-

-

23

SINGAPORE RADIATION CENTRE PTE. LTD.

MANAGING DIRECTOR

27/03/2012

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

IPS SECUREX PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

01/11/1991

27/11/2008

2

IPS SECURITY AND AVIATION PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

25/05/2012

3

IPS TECHNOLOGIES PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

30/12/1995

18/12/2008

4

IPS-ORU ASIA PACIFIC PTE LTD

STRUCK OFF

DIRECTOR

23/01/1995

08/07/2005

5

OZONE ENTERPRISES (PTE) LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

6

PERFEX INTERNATIONAL PRIVATE LIMITED

LIVE COMPANY

SHAREHOLDER

-

18/04/2012

7

SDMO ASIA PACIFIC PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

20/12/1991

03/04/2002

8

SDMO ASIA PACIFIC PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

27/01/1992

20/12/1995

 

 

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

H

574

-

2004

08/07/2004

SGD 500,000.00

-

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

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.

:

C201205493

 

Date of Registration

:

18/05/2012

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

 

 

LITIGATION

 

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

 

To date, there have been 1 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

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

1827

 

Transfer

:

-

 

Date of Filing

:

23/01/2002

 

Amount

:

1,726.28

 

Cause

:

Good Sold And Delivered

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

VMD PTE LTD

 

Last Update Date in DP Info Database

:

11/03/2008

 

 

 

COMPLIANCE

 

Date of Last AGM

:

30/12/2011

Date of Last AR

:

27/01/2012

Date of A/C Laid At Last AGM

:

30/06/2011
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

-

NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

 

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).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

 

JUN 2011

% Change

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

6,986,923

38.59

5,041,571

5,884,068

4,619,841

901,139

Profit/(Loss) Before Tax

50,152

NA

(586,022)

(393,048)

(374,292)

(334,906)

Profit After Tax attributable

 to Shareholders

50,152

NA

(586,022)

(393,048)

(374,292)

(334,906)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

7,614,028

48.97

5,111,217

4,047,135

3,886,738

2,363,848

Current Assets

3,478,400

57.83

2,203,892

2,131,981

1,896,215

852,683

Non Current Assets

4,135,628

42.25

2,907,325

1,915,154

1,990,523

1,511,165

 

 

 

 

 

 

 

Total Liabilities

5,694,551

23.39

4,615,226

3,941,968

3,388,523

2,191,341

Current Liabilities

5,694,551

23.69

4,603,729

3,871,137

3,262,279

2,191,341

Non Current Liabilities

0

-100.00

11,497

70,831

126,244

0

 

 

 

 

 

 

 

Shareholders' Funds

1,919,477

287.00

495,991

105,167

498,215

172,507

Share Capital

1,700,000

0.00

1,700,000

1,700,000

1,700,000

1,000,000

Total Reserves

219,477

NA

(1,204,009)

(1,594,833)

(1,201,785)

(827,493)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

JUN 2011

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

38.59

-14.32

27.37

412.67

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.72

-11.62

-6.68

-8.10

-37.16

Return on Equity (%)

2.61

-118.15

-373.74

-75.13

-194.14

Return on Assets (%)

0.66

-11.47

-9.71

-9.63

-14.17

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.97

9.31

37.48

6.80

12.70

Current Debt/Equity (Times)

2.97

9.28

36.81

6.55

12.70

Long Term Debt To Equity (Times)

0.00

0.02

0.67

0.25

0.00

Total Asset To Total Equity (Times)

3.97

10.31

38.48

7.80

13.70

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.92

0.99

1.45

1.19

0.38

Fixed Assets Turnover (Times)

1.69

1.73

3.07

2.32

0.60

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.61

0.48

0.55

0.58

0.39

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 66.87% (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 0.72 per cent in FY11. The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales.

 

Liquidity

Current ratio stood at 0.61 times in FY11 (FY10: 0.48 times). This means that the company has SINGAPORE, DOLLARS 0.61 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 2.97 times in FY11, compared with 9.31 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.97 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 2.61 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 0.66 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 0.92 times in FY11 (FY10: 0.99 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.57.21

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.