MIRA INFORM REPORT

 

 

Report Date :

21.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SINBA-LINK PTE LTD

 

 

Formerly Known As :

SINBA-VISION PTE LTD

 

 

Registered Office :

178 Paya Lebar Road #05-01 Paya Lebar 178 Singapore 409030

 

 

Country :

Singapore

 

 

Financials (as on) :

Dec 2010

 

 

Date of Incorporation :

14.09.1999

 

 

Com. Reg. No.:

199905489R

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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

:

SINBA-LINK PTE LTD

Registration No

:

199905489R

Date of Registration

:

14/09/1999

Former Name

:

SINBA-VISION PTE LTD Eff. date : 14/09/1999 Eff. date : 14/09/1999

Date of Change of Name

:

16/10/1999

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

178 PAYA LEBAR ROAD #05-01 PAYA LEBAR 178 SINGAPORE 409030

Date of Change of Address

:

12/05/2011

Contact No.

:

6733 1123

Fax No.

:

6733 0123

Website

:

www.sinba-link.com

Registered Activities

:

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

2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

KEN WONG & CO

Bankers / Financiers

:

UNITED OVERSEAS BANK LIMITED

Turnover

:

SINGAPORE, DOLLARS 7,741,339.34 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (311,596.22) (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1096 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

LEE PING LEONA

SHAREHOLDER ID

:

S7019162H

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

51 EWE BOON ROAD #03-07 SINGAPORE 259345

NO. OF ORD SHARES

:

81,000

% OF SHAREHOLDING

:

81%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SIVA SOTHI A/L K SOTHINATHAN

SHAREHOLDER ID

:

A116739

NATIONALITY

:

MALAYSIAN

ADDRESS

:

137 SUNSET WAY #07-04 CLEMENTI PARK SINGAPORE 597159

NO. OF ORD SHARES

:

10,000

% OF SHAREHOLDING

:

10%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TAN TEE HIEONG

SHAREHOLDER ID

:

S1827364J

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

51 EWE BOON ROAD #03-07 SINGAPORE 259345

NO. OF ORD SHARES

:

9,000

% OF SHAREHOLDING

:

9%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

BATUAEL BEZUAYEHU

ADDRESS

:

P.O.BOX 1793 ADDIS ABABA ETHIOPIA

POSITION

:

DIRECTOR

DATE OF APPT

:

12/07/2011

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

482526131

 

NAME

:

LIM TIONG BENG

ADDRESS

:

2 GUOK AVENUE SINGAPORE 119632

POSITION

:

SECRETARY

DATE OF APPT

:

14/09/1999

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1073678A

 

NAME

:

LEE PING LEONA

ADDRESS

:

51 EWE BOON ROAD #03-07 SINGAPORE 259345

POSITION

:

DIRECTOR

DATE OF APPT

:

14/09/1999

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7019162H

 

 

KEY PERSONNEL PROFILE

 

Name:

LEE PING LEONA

NRIC Number:

S7019162H

Available Address:

51 EWE BOON ROAD #03-07  SINGAPORE 259345

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CWT DJIBOUTI HOLDINGS PTE. LTD.

DIRECTOR

27/03/2006

1

50.00

2

SINBA-LINK PTE LTD

DIRECTOR

14/09/1999

81000

81.00

3

SINGAPORE COFFEE COMPANY PTE. LTD.

DIRECTOR

21/03/2007

-

-

4

SINGARICH PRIVATE LIMITED

SHAREHOLDER

-

1

33.33

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

SINGARICH PRIVATE LIMITED

LIVE COMPANY

DIRECTOR

18/03/1997

23/09/2004

2

VINARICH PRIVATE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

DIRECTOR

15/06/1995

01/10/2004

 

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.

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 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200404203

 

Date of Registration

:

25/08/2004

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

 

COMPLIANCE

 

Date of Last AGM

:

13/06/2011

Date of Last AR

:

17/06/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

 FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2006

DEC 2005

DEC 2004

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

7,741,339

45.82

5,308,705

8,768,077

11,156,021

8,657,056

Profit/(Loss) Before Tax

(95,850)

NA

(287,326)

(17,107)

(176,748)

54,095

Profit After Tax attributable to Shareholders

(95,978)

NA

(287,326)

(17,107)

(176,528)

54,095

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

1,657,081

-8.66

1,814,201

2,843,421

3,193,477

3,104,503

Current Assets

1,657,081

-8.64

1,813,888

2,842,830

3,191,118

3,100,465

Non Current Assets

0

-100.00

313

591

2,359

4,038

 

 

 

 

 

 

 

Total Liabilities

1,968,677

-3.72

2,044,778

3,003,055

3,319,975

3,054,473

Current Liabilities

1,968,410

-3.72

2,044,493

3,002,744

2,782,573

2,634,635

Non Current Liabilities

267

-6.49

285

311

537,402

419,838

 

 

 

 

 

 

 

Shareholders' Funds

(311,596)

NA

(230,577)

(159,634)

(126,498)

50,030

Share Capital

81,822

-6.49

87,498

95,267

100,000

100,000

Total Reserves

(393,418)

NA

(318,075)

(254,901)

(226,498)

(49,970)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2006

DEC 2005

DEC 2004

Growth %

 

 

 

 

 

Year-on-Year Growth

45.82

NA

-21.40

28.87

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-1.24

-5.41

-0.20

-1.58

0.62

Return on Equity (%)

30.80

124.61

10.72

139.55

108.13

Return on Assets (%)

-5.79

-15.84

-0.60

-5.53

1.74

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-6.32

-8.87

-18.81

-26.25

61.05

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

52.66

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

8.39

Total Asset To Total Equity (Times)

-5.32

-7.87

-17.81

-25.25

62.05

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.67

2.93

3.08

3.49

2.79

Fixed Assets Turnover (Times)

0.00

16,969.04

14,837.41

4,729.13

2,143.90

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.84

0.89

0.95

1.15

1.18

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 0.84 times in FY10 (FY09: 0.89 times). This means that the company has SINGAPORE, DOLLARS 0.84 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 30.80 per cent for Subject in the current financial period, as compared to 124.61 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.

 

Total assets turnover ratio logged at 4.67 times in FY10 (FY09: 2.93 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.50.25

UK Pound

1

Rs.79.76

Euro

1

Rs.66.52

 

 

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.