MIRA INFORM REPORT

Report Date :

01.03.2012

IDENTIFICATION DETAILS

Name :	ASIANA HOTEL MANAGEMENT CO PTE. LTD.
Registered Office :	17 Phillip Street #05-01 Grand Building Singapore 048695
Country :	Singapore
Financials (as on) :	31.03.2010
Date of Incorporation :	23.02.2006
Com. Reg. No.:	200602496K
Legal Form :	Limited Exempt Private Company
Line of Business :	Hotel Management Consultancy Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
Payment Behaviour :	Unknown
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	:	ASIANA HOTEL MANAGEMENT CO PTE. LTD.
Registration No	:	200602496K
Date of Registration	:	23/02/2006
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	17 PHILLIP STREET #05-01 GRAND BUILDING SINGAPORE 048695
Date of Change of Address	:	23/02/2006
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	HOTEL MANAGEMENT CONSULTANCY SERVICES
Issued Ordinary Capital*	:	$10,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 10,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,000.00 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	:	PRUDENTIAL PUBLIC ACCOUNTING CORPORATION
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 0.00 (FY2010)
Net Worth	:	SINGAPORE, DOLLARS (8,465.09) (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

Credit Rating & Recommendation

Recommended Credit Line

:

No Recommendation

SHAREHOLDER DETAILS

NAME	:	SRIHARAN SRIPATHMANATHAN
SHAREHOLDER ID	:	N3200567
NATIONALITY	:	AUSTRALIAN
ADDRESS	:	22A ARUNACHALAM ROAD, KOTTUPURAM, CHENNAI 600085, TAMIL NADU, INDIA
NO. OF ORD SHARES	:	9,999
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	PATHMAKUMAR SRIPATHMANATHAN
SHAREHOLDER ID	:	093216781
NATIONALITY	:	BRITISH
ADDRESS	:	2 BEECH AVENUE, RADLETT, HERTS, WD77DE, UK
NO. OF ORD SHARES	:	1
% OF SHAREHOLDING	:	0%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	PATHMAKUMAR SRIPATHMANATHAN
ADDRESS	:	2 BEECH AVENUE, RADLETT, HERTS, WD77DE, UK
POSITION	:	DIRECTOR
DATE OF APPT	:	23/11/2006
NATIONALITY	:	BRITISH
I/C PASSPORT	:	093216781
NAME	:	SRIHARAN PREMILA PRITHIVA
ADDRESS	:	4/10, 3RD STREET, KASTURI ESTATE POES GARDEN, CHENNAI 600086, INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	23/11/2006
NATIONALITY	:	AUSTRALIAN
I/C PASSPORT	:	M2570646
NAME	:	SRIHARAN SRIPATHMANATHAN
ADDRESS	:	22A ARUNACHALAM ROAD, KOTTUPURAM, CHENNAI 600085, TAMIL NADU, INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	23/02/2006
NATIONALITY	:	AUSTRALIAN
I/C PASSPORT	:	N3200567
NAME	:	GOPALASAMY S/O VASUDHEVAN
ADDRESS	:	486 PASIR RIS DRIVE 4 #02-491 SINGAPORE 510486
POSITION	:	DIRECTOR
DATE OF APPT	:	23/02/2006
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0670601J
NAME	:	CLIFFORD EMMANUEL GERMAIN ABAYASEKARA
ADDRESS	:	407B FERNVALE ROAD #04-13 SINGAPORE 792407
POSITION	:	SECRETARY
DATE OF APPT	:	24/02/2006
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2191478I

KEY PERSONNEL PROFILE

Name:	SRIHARAN SRIPATHMANATHAN
NRIC Number:	N3200567
Available Address:	22A ARUNACHALAM ROAD, KOTTUPURAM, CHENNAI 600085, TAMIL NADU, INDIA

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ASIANA HOTEL MANAGEMENT CO PTE. LTD.	DIRECTOR	23/02/2006	9999	99.99
2	CHERAN INVESTMENT HOLDING PTE. LTD.	DIRECTOR	18/09/2007	9999	99.99
3	HOTEL SUPPLY TRADING PTE. LTD.	DIRECTOR	16/02/2011	5000	100.00

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 are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE RECORDS

Date of Last AGM	:	16/03/2011
Date of Last AR	:	13/05/2011
Date of A/C Laid At Last AGM	:	31/03/2010

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	MAR 2010	% Change	MAR 2009	MAR 2008
Currency	SINGAPORE, DOLLARS		SINGAPORE, DOLLARS	SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	0	NA	0	0
Profit/(Loss) Before Tax	(3,732)	NA	(2,534)	(4,748)
Profit After Tax attributable to Shareholders	(3,732)	NA	(2,534)	(4,748)
Balance Sheet Key Figures
Total Assets	95,001	879.67	9,697	9,930
Current Assets	95,001	879.67	9,697	9,930
Non Current Assets	0	NA	0	0
Total Liabilities	103,467	614.18	14,487	12,230
Current Liabilities	103,467	614.18	14,487	12,230
Non Current Liabilities	0	NA	0	0
Shareholders' Funds	(8,465)	NA	(4,790)	(2,300)
Share Capital	8,771	-1.20	8,878	9,051
Total Reserves	(17,237)	NA	(13,668)	(11,351)

FINANCIAL RATIOS

	Company
	MAR 2010	MAR 2009	MAR 2008
Growth %
Year-on-Year Growth	NA	NA	NA
Profitability
Profit Margin (%)	0.00	0.00	0.00
Return on Equity (%)	44.09	52.91	206.46
Return on Assets (%)	-3.93	-26.13	-47.82
Leverage
Total Debt/Equity (Times)	-12.22	-3.02	-5.32
Current Debt/Equity (Times)	0.00	0.00	0.00
Long Term Debt To Equity (Times)	0.00	0.00	0.00
Total Asset To Total Equity (Times)	-11.22	-2.02	-4.32
Asset Management
Total Assets Turnover (Times)	0.00	0.00	0.00
Fixed Assets Turnover (Times)	0.00	0.00	0.00
Liquidity
Current Ratio (Times)	0.92	0.67	0.81

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 0.92 times in FY10 (FY09: 0.67 times). This means that the company has SINGAPORE, DOLLARS 0.92 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 44.09 per cent for Subject in the current financial period, as compared to 52.91 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.

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

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.94
UK Pound	1	Rs.77.95
Euro	1	Rs.65.94

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%)

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