MIRA INFORM REPORT

 

 

Report Date :

17.05.2012

 

IDENTIFICATION DETAILS

 

Name :

VVF SINGAPORE PTE. LTD.

 

 

Registered Office :

10 Jalan Besar #10-12 Sim Lim Tower Singapore 208787

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.07.2006

 

 

Com. Reg. No.:

200609608C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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 :

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 – 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:

VVF SINGAPORE PTE. LTD.

200609608C

 

Date Incorporated:

Registered Office:

Telephone Number:

01/07/2006

10 JALAN BESAR #10-12 SIM LIM TOWER SINGAPORE 208787

6224 8871

Age of Company:

Website:

Industry Type:

6

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

48 Days

Worse off than last month;last month the entity took 0 days to pay

No. of Charges(s):
0

Industry DTC

 

28 Days

 

Directors

 

Corporate Structure

Number of Current Directors

8

Holding Company:

VVF LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

VVF SINGAPORE PTE. LTD.

Registration No

:

200609608C

Date of Registration

:

01/07/2006

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

10 JALAN BESAR #10-12 SIM LIM TOWER SINGAPORE 208787

Date of Change of Address

:

01/07/2006

Contact No.

:

6224 8871

Fax No.

:

6224 8871

Website

:

NA

South East Asia Branch

:

133 CECIL STREET #09-01A, KECK SENGE TOWER, SINGAPORE 069535

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$300,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 300,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$300,000.00 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

:

MGI N RAJAN ASSOCIATES

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 15,490,100.00 (FY2009)

Net Worth

:

SGD - SIN 741,456.00 (FY2009)

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)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

VVF LIMITED

SHAREHOLDER ID

:

T06UF1837E

NATIONALITY

:

INDIA

ADDRESS

:

109, SION (E),PO. BOX: 6781, MUMBAI - 400 022, INDIA.

NO. OF ORD SHARES

:

300,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

FARAZ GODREJ JOSHI

ADDRESS

:

40-A, HILLSTONE, B.G.KHER MARG, MALABAR HILL, MUMBAI - 400 006, MAHARASHTRA, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2006

NATIONALITY

:

INDIAN

I/C PASSPORT

:

B3016967

 

NAME

:

RADHESH RATNAKAR WELLING

ADDRESS

:

3A/103, KALPATARU ESTATE, JVLR, ANDHERI (EAST) MUMBAI-400 093, MAHARASHTRA, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

09/01/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

J9221474

 

NAME

:

VENKATARAMAIYER SIVARAMAKRISHNAN

ADDRESS

:

666 YISHUN AVENUE 4 #05-159 SINGAPORE 760666

POSITION

:

SECRETARY

DIRECTOR

DATE OF APPT

:

26/12/2007

28/01/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0033476F

 

NAME

:

RUSTOM GODREJ JOSHI

ADDRESS

:

501, MARKER MANSION, 623, LADY JEHANGIR ROAD, PARSEE COLONY, DADAR (E), MUMBAI - 400 014, MAHARASHTRA, INDIA.

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2006

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1561534

 

NAME

:

RADHAKRISHNAN RAGHAVAN

ADDRESS

:

13 VISHAL BANDRA CHS, MANUEL GONSALVES ROAD BANDRA (WEST), MUMBAI-400 050, MAHARASHTRA,INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

09/01/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z2082492

 

 

 

KEY PERSONNEL PROFILE

 

Name:

FARAZ GODREJ JOSHI

NRIC Number:

B3016967

Available Address:

40-A, HILLSTONE, B.G.KHER MARG, MALABAR HILL, MUMBAI - 400 006, MAHARASHTRA, INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

VVF SINGAPORE PTE. LTD.

DIRECTOR

01/07/2006

-

-

 

 

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

:

01/08/2011

Date of Last AR

:

15/09/2011

Date of A/C Laid At Last AGM

:

31/03/2011
 

 

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

 

DEC 2009

% Change

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

15,490,100

-70.89

53,219,309

22,304,551

Profit/(Loss) Before Tax

1,094,311

NA

(1,028,134)

517,000

Profit After Tax attributable

 to Shareholders

1,089,700

NA

(1,019,095)

439,148

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

8,080,499

-13.30

9,320,114

3,739,367

Current Assets

1,455,797

-61.45

3,776,273

3,664,258

Non Current Assets

6,624,702

19.50

5,543,841

75,109

 

 

 

 

 

Total Liabilities

7,339,043

-24.01

9,657,790

3,013,699

Current Liabilities

460,085

-88.13

3,875,771

3,004,073

Non Current Liabilities

6,878,958

18.97

5,782,019

9,626

 

 

 

 

 

Shareholders' Funds

741,456

NA

(337,676)

725,669

Share Capital

277,469

3.13

269,049

286,520

Total Reserves

463,987

NA

(606,725)

439,148

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

Year-on-Year Growth

-70.89

138.60

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

7.03

-1.91

1.97

Return on Equity (%)

146.97

301.80

60.52

Return on Assets (%)

13.49

-10.93

11.74

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

9.90

-28.60

4.15

Current Debt/Equity (Times)

0.62

0.00

4.14

Long Term Debt To Equity (Times)

9.28

0.00

0.01

Total Asset To Total Equity (Times)

10.90

-27.60

5.15

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

1.92

5.71

5.96

Fixed Assets Turnover (Times)

2.34

9.60

296.96

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

3.16

0.97

1.22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 7.03 per cent in FY09. The company is now able to book in SGD - SIN 0.07 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 3.16 times in FY09 (FY08: 0.97 times). This means that the company has SGD - SIN 3.16 of current assets for every SGD - SIN 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 9.90 times in FY09. This means that the company requires additional external financing of SGD - SIN 9.90 for every SGD - SIN 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 146.97 per cent for Subject in the current financial period, as compared to 301.80 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 13.49 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 1.92 times in FY09 (FY08: 5.71 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.54.29

UK Pound

1

Rs.86.61

Euro

1

Rs.68.87

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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.