MIRA INFORM REPORT

Report Date :

08.05.2012

IDENTIFICATION DETAILS

Name :	TRANSAS MARINE PACIFIC PTE LTD
Registered Office :	16 Jalan Kilang Barat Cyber Centre Singapore 159358
Country :	Singapore
Financials (as on) :	JUN 2010
Date of Incorporation :	22.05.2001
Com. Reg. No.:	200103370D
Legal Form :	Limited Private Company
Line of Business :	Mfg And Integration Of Navigation Simulation And Vessel Traffic Mgmt System
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 :	No complaints
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 (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:
TRANSAS MARINE PACIFIC PTE LTD	200103370D

Date Incorporated:	Registered Office:	Telephone Number:
22/05/2001	16 JALAN KILANG BARAT CYBER CENTRE SINGAPORE 159358	62710200
Age of Company:	Website:	Industry Type:
11	www.transas.com	COMMERCE-WHOLESALE

Credit Assessment	Risk Dashboard
Risk & Rating	Days Beyond Terms	Trend:	No. of Litigation Counts:
Credit Limit:	Company DTC:		NA
Small	NA
	The entity is paying current to the creditors		No. of Charges(s): 0
	Industry DTC
	28

Directors		Corporate Structure
Number of Current Directors	14	Holding Company:	TRANSAS MARINE LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	TRANSAS MARINE PACIFIC PTE LTD
Registration No	:	200103370D
Date of Registration	:	22/05/2001
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	16 JALAN KILANG BARAT CYBER CENTRE SINGAPORE 159358
Date of Change of Address	:	01/07/2009
Contact No.	:	62710200
Fax No.	:	62717300
Website	:	www.transas.com
Registered Activities	:	1. OTHER PERSONAL SERVICE ACTIVITIES NEC MFG AND INTEGRATION OF NAVIGATION SIMULATION AND VESSEL TRAFFIC MGMT SYSTEM 2. OTHER INVESTMENT HOLDING COMPANIES
Issued Ordinary Capital*	:	$1,166,520.00 SINGAPORE, DOLLARS, NO. OF SHARE : 1,166,520
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,166,520.00 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	:	FOO KON TAN GRANT THORNTON LLP
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 15,438,180.00 (FY2010)
Net Worth	:	SINGAPORE, DOLLARS 2,471,982.00 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	25.16% (4 years)

SHAREHOLDER DETAILS

NAME	:	TRANSAS MARINE LIMITED
SHAREHOLDER ID	:	T04UF1735A
NATIONALITY	:	IRELAND
ADDRESS	:	10 EASTGATE AVENUE EASTGATE BUSINESS PARK LITTLE ISLAND, CORK, IRELAND
NO. OF ORD SHARES	:	1,166,520
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	ANDREY BELENTIEV
ADDRESS	:	APP.10,10, MAYAKOVSKAYA STR., 191025 SAINT-PETERSBURG, RUSSIAN FEDERATION
POSITION	:	DIRECTOR
DATE OF APPT	:	25/08/2004
NATIONALITY	:	RUSSIAN
I/C PASSPORT	:	51 NO.3494800
NAME	:	CARL-OLOF CARLSSON
ADDRESS	:	GRINDVAGEN 12 SE-429 35 KULLAVIK
POSITION	:	DIRECTOR
DATE OF APPT	:	25/08/2004
NATIONALITY	:	SWEDISH
I/C PASSPORT	:	56215134
NAME	:	SHARON K. DEENY
ADDRESS	:	17 MANOR GROVE THORNBURY VIEW ROCHESTOWN, CORK, IRELAND
POSITION	:	DIRECTOR
DATE OF APPT	:	06/08/2004
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	711946336
NAME	:	HANS JOHAN GUSTAFSSON
ADDRESS	:	172 SIXTH AVENUE #05-35 SIXTH AVENUE RESIDENCES, THE SINGAPORE 276545
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	03/06/2011 03/06/2011
NATIONALITY	:	SWEDISH
I/C PASSPORT	:	G5159442N
NAME	:	ANNE CHOO
ADDRESS	:	34 JALAN REBANA FABER GARDEN SINGAPORE 577003
POSITION	:	SECRETARY
DATE OF APPT	:	24/05/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1256587I
NAME	:	GWENDOLYN YEOH SWEE HWA
ADDRESS	:	34 UPPER CROSS STREET #05-154 SINGAPORE 050034
POSITION	:	DIRECTOR
DATE OF APPT	:	15/09/2010
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7265511G
NAME	:	JUSTINA SOON HSU-LIN
ADDRESS	:	50 BUKIT BATOK STREET 31 #15-03 MADEIRA, THE SINGAPORE 659442
POSITION	:	SECRETARY
DATE OF APPT	:	30/08/2005
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7497243H

KEY PERSONNEL PROFILE

Name:	HANS JOHAN GUSTAFSSON
NRIC Number:	G5159442N
Available Address:	172 SIXTH AVENUE #05-35 SIXTH AVENUE RESIDENCES, THE SINGAPORE 276545

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	TRANSAS MARINE PACIFIC PTE LTD	DIRECTOR	03/06/2011	-	-
2	TRANSAS MARINE PACIFIC PTE LTD	MANAGING DIRECTOR	03/06/2011	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
No Trace

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 are no bank charges registered against Subject by its bankers.

COMPLIANCE RECORDS

Date of Last AGM	:	27/07/2011
Date of Last AR	:	29/07/2011
Date of A/C Laid At Last AGM	:	30/06/2010

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING, ANNUAL RETURN OR ACCOUNTS LATE

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 2010	% Change	JUN 2009	JUN 2008	JUN 2007	JUN 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	15,438,180	17.56	13,132,535	10,393,280	9,746,667	6,290,872
Profit/(Loss) Before Tax	598,649	268.66	162,387	156,451	777,212	(18,294)
Profit After Tax attributable to Shareholders	542,165	781.90	61,477	159,905	719,661	(18,294)
Balance Sheet Key Figures
Total Assets	5,315,456	-7.77	5,763,114	5,972,578	4,818,885	2,778,679
Current Assets	5,108,124	-7.34	5,512,542	5,777,098	4,694,587	2,647,913
Non Current Assets	207,332	-17.26	250,572	195,480	124,298	130,766
Total Liabilities	2,843,474	-39.35	4,688,517	4,959,458	3,965,670	2,645,125
Current Liabilities	2,820,009	-39.30	4,645,714	4,898,998	3,710,367	2,599,411
Non Current Liabilities	23,465	-45.18	42,803	60,460	255,303	45,714
Shareholders' Funds	2,471,982	130.04	1,074,597	1,013,120	853,215	133,554
Share Capital	1,166,520	274.73	311,300	311,300	311,300	311,226
Total Reserves	1,305,462	71.03	763,297	701,820	541,915	(177,672)

FINANCIAL RATIOS

	Company
	JUN 2010	JUN 2009	JUN 2008	JUN 2007	JUN 2006
Growth %
Year-on-Year Growth	17.56	26.36	6.63	54.93	NA
Profitability
Profit Margin (%)	3.51	0.47	1.54	7.38	-0.29
Return on Equity (%)	21.93	5.72	15.78	84.35	-13.70
Return on Assets (%)	10.20	1.07	2.68	14.93	-0.66
Leverage
Total Debt/Equity (Times)	1.15	4.36	4.90	4.65	19.81
Current Debt/Equity (Times)	1.14	4.32	4.84	4.35	19.46
Long Term Debt To Equity (Times)	0.01	0.04	0.06	0.30	0.34
Total Asset To Total Equity (Times)	2.15	5.36	5.90	5.65	20.81
Asset Management
Total Assets Turnover (Times)	2.90	2.28	1.74	2.02	2.26
Fixed Assets Turnover (Times)	74.46	52.41	53.17	78.41	48.11
Liquidity
Current Ratio (Times)	1.81	1.19	1.18	1.27	1.02

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 25.16% (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 3.51 per cent in FY10 (FY09: 0.47 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.04 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

Liquidity

Current ratio stood at 1.81 times in FY10 (FY09: 1.19 times). This means that the company has SINGAPORE, DOLLARS 1.81 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

Total debt-to-equity ratio notched 1.15 times in FY10, compared with 4.36 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.15 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 21.93 per cent for Subject in the current financial period, as compared to 5.72 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 10.20 per cent (FY09: 1.07 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 2.90 times in FY10 (FY09: 2.28 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.53.34
UK Pound	1	Rs.86.09
Euro	1	Rs.69.36

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.