MIRA
INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIGNET TECHNOLOGY PTE LTD |
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Registered Office : |
2 Soon |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.06.1998 |
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Com. Reg. No.: |
199802981H |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Wholesale of computer accessories (eg memory cards, computer cables) |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Executive Summary
|
: |
SIGNET
TECHNOLOGY PTE LTD |
|
|
Registration
No |
: |
199802981H |
|
Date of
Registration |
: |
18/06/1998 |
|
Former Name |
: |
NA |
|
Date of
Change of Name |
: |
NA |
|
Type of
Company |
: |
LIMITED
EXEMPT PRIVATE COMPANY |
|
Registered
Address |
: |
2 SOON WING
ROAD #07-07 SOON |
|
Date of
Change of Address |
: |
23/08/2006 |
|
Contact No. |
: |
NA |
|
Fax No. |
: |
NA |
|
Website |
: |
NA |
|
Registered
Activities |
: |
1. WHOLESALE
OF COMPUTER ACCESSORIES (EG MEMORY CARDS, COMPUTER CABLES) COMPANY AND COMPUTER ACCESSORIES - RETAIL/TRADING (FREE TEXT) 2. COMMERCIAL
SCHOOLS OFFERING HIGHER EDUCATION PROGRAMMES INFORMATION
TECHNOLOGY - CONSULTANCY/TRAINING (FREE TEXT) |
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Issued
Ordinary Capital* |
: |
$300,000.00 |
|
Issued
Preference Capital |
: |
NA |
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Paid-Up
Ordinary Capital |
: |
$300,000.00 |
|
Paid-Up
Preference Capital |
: |
NA |
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* Number of
Shares includes number of Issued Treasury Shares |
||
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Issued
Treasury Capital |
: |
NA |
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Paid-Up
Treasury Capital |
: |
NA |
|
No. of Local
Subsidiaries |
: |
NA |
|
No. of Local
Associates |
: |
NA |
|
Auditor |
: |
B.H. RAY
& CO |
|
Bankers /
Financiers |
: |
NA |
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Turnover |
: |
|
|
Net Worth |
: |
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No. of Bank
Charges |
: |
NA |
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No. of
Litigation Suits |
: |
NA |
|
S1000 / SME
500 / FG50 Ranking |
: |
|
|
Compounded
Annual Growth Rate (CAGR) |
: |
16.9% (4
years) |
Credit Recommendation
|
Recommended Credit Line |
: |
No Recommendation |
SHAREHOLDER DETAILS
|
: |
YOHANNAN HARRY |
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SHAREHOLDER
ID |
: |
S1829802C |
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NATIONALITY |
: |
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ADDRESS |
: |
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NO. OF ORD SHARES |
: |
300,000 |
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CURRENCY |
: |
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OFFICER DETAILS
|
: |
YOHANNAN
HARRY |
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ADDRESS |
: |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
10/01/2002 |
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NATIONALITY |
: |
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|
I/C PASSPORT |
: |
S1829802C |
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|
||
|
NAME |
: |
LEE
SWEE SIEK |
|
ADDRESS |
: |
9
JALAN MATA AYER #03-55 EUPHONY GARDENS |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
05/11/2007 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S2558224A |
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KEY PERSONNEL PROFILE
|
YOHANNAN HARRY |
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NRIC Number: |
S1829802C |
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Available Address: |
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Current Business Interest
|
No. |
Name |
Position |
Appt
Date |
#of
Share |
% |
|
SIGNET TECHNOLOGY
PTE LTD |
DIRECTOR |
10/01/2002 |
300000 |
100.00 |
Previous Business
|
No. |
Name |
Status |
Position |
Appt
Date |
Last
Known Inactive Date |
|
AMERICAN
PHONECARDS & COLLECTIBLES PTE LTD |
STRUCK OFF |
DIRECTOR |
10/03/1999 |
23/07/2009 |
|
|
2 |
COLLECTIBLES
COMMISSARY INTERNATIONAL PTE LTD |
STRUCK OFF |
DIRECTOR |
10/03/1999 |
- |
|
3 |
NXTFRONTIERS.COM
PTE LTD |
STRUCK OFF |
DIRECTOR |
24/03/2000 |
- |
|
4 |
SPEEDTRAX
TECHNOLOGY |
CANCELLATION |
OWNER |
16/10/2003 |
- |
|
5 |
STS PHONECARDS
& COLLECTIBLES PTE LTD |
STRUCK OFF |
DIRECTOR/SHR |
20/04/2001 |
- |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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Litigation Search – Writ of Summons
|
Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
|
Company |
Shareholdings (%) |
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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
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
11/08/2009 |
|
Date of A/C Laid At Last AGM |
: |
31/12/2008 |
FINANCIAL HIGHLIGHTS
|
Financial
Figures |
||||||
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|
DEC
2006 |
%
Change |
DEC
2005 |
DEC
2004 |
DEC
2003 |
DEC
2002 |
|
Currency |
SGD
- SIN |
|
SGD
- SIN |
SGD
- SIN |
SGD
- SIN |
SGD
- SIN |
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Profit
and Loss Key Figures |
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|
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|
1,296,937 |
-13.96 |
1,507,442 |
1,017,943 |
886,289 |
694,591 |
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Profit/(Loss)
Before Tax |
10,906 |
-16.27 |
13,025 |
(43,333) |
(24,301) |
(87,122) |
|
Profit
After Tax attributable to Shareholders |
10,906 |
-16.27 |
13,025 |
(43,333) |
(24,301) |
(87,122) |
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Balance
Sheet Key Figures |
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Total
Assets |
428,643 |
11.05 |
385,983 |
329,087 |
231,573 |
322,313 |
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Current
Assets |
398,815 |
28.18 |
311,137 |
321,879 |
218,716 |
306,422 |
|
Non
Current Assets |
29,828 |
-60.15 |
74,846 |
7,208 |
12,857 |
15,891 |
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Total
Liabilities |
288,821 |
12.35 |
257,062 |
213,191 |
72,344 |
123,196 |
|
Current
Liabilities |
288,821 |
12.35 |
257,062 |
213,191 |
72,344 |
123,196 |
|
Non
Current Liabilities |
0 |
NA |
0 |
0 |
0 |
0 |
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|
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Shareholders'
Funds |
139,822 |
8.46 |
128,921 |
115,896 |
159,229 |
199,117 |
|
Share
Capital |
321,000 |
0.00 |
321,000 |
300,000 |
300,000 |
300,000 |
|
Total
Reserves |
181,178 |
NA |
(192,079) |
(184,104) |
(140,771) |
(100,883) |
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FINANCIAL RATIOS
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|
DEC
2006 |
DEC
2005 |
DEC
2004 |
DEC
2003 |
DEC
2002 |
|
Growth % |
|
|
|
|
|
|
-13.96 |
48.09 |
14.85 |
27.60 |
NA |
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Profitability |
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Profit Margin (%) |
0.84 |
0.86 |
NA |
NA |
NA |
|
Return on Equity (%) |
7.80 |
10.10 |
NA |
NA |
NA |
|
Return on Assets (%) |
2.54 |
3.37 |
NA |
NA |
NA |
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Leverage |
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Total Debt/Equity (Times) |
2.07 |
1.99 |
1.84 |
0.45 |
0.62 |
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Current Debt/Equity (Times) |
2.07 |
1.99 |
1.84 |
0.45 |
0.62 |
|
Long Term Debt To Equity (Times) |
NA |
NA |
NA |
NA |
NA |
|
Total Asset To Total Equity (Times) |
3.07 |
2.99 |
2.84 |
1.45 |
1.62 |
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Asset Management |
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Total Assets Turnover (Times) |
3.03 |
3.91 |
3.09 |
3.83 |
2.16 |
|
Fixed Assets Turnover (Times) |
43.48 |
20.14 |
141.22 |
68.93 |
43.71 |
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Liquidity |
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Current Ratio (Times) |
1.38 |
1.21 |
1.51 |
3.02 |
2.49 |
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FINANCIAL COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 16.9% (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 0.84 per cent in FY06 (FY05: 0.86 per cent). The company
is now able to book in
Liquidity
Current ratio stood at 1.38
times in FY06 (FY05: 1.21 times). This means that the company has
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 2.07 times in FY06, compared with 1.99 times in FY05. This means that
the company requires additional external financing of
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 7.80 per cent for Subject in the current financial period, as
compared to 10.10 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 2.54 per cent (FY05: 3.37 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 3.03 times in FY06
(FY05: 3.91 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.50.12 |
|
UK Pound |
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.02 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.