MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	KOBIAN PTE LTD
Formerly Known As :	Kobian Singapore Pte Ltd
Registered Office :	8 Temasek Boulevard #06-03 Suntec Tower Three Singapore 038988
Country :	Singapore
Financials (as on) :	31.12.2009
Date of Incorporation :	20.03.1978
Com. Reg. No.:	197800607E
Legal Form :	Limited Exempt Private Company
Line of Business :	Wholesale of Computer Hardware and Peripheral Equipment
No. of Employee:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Exists

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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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	:	KOBIAN PTE LTD
Registration No	:	197800607E
Date of Registration	:	20/03/1978
Former Name	:	KOBIAN SINGAPORE PTE LTD Eff. date : 20/03/1978 Eff. date : 20/03/1978
Date of Change of Name	:	03/03/2001
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	8 TEMASEK BOULEVARD #06-03 SUNTEC TOWER THREE SINGAPORE 038988
Date of Change of Address	:	12/08/2009
Contact No.	:	6338 3368
Fax No.	:	6333 1588
Website	:	NA
Registered Activities	:	1. WHOLESALE OF COMPUTER HARDWARE AND PERIPHERAL EQUIPMENT MANUFACTURER AND DISTRIBUTOR OF COMPUTER PERIPHERALS AND LIFESTYLE PRODUCTS 2. RESTAURANTS OWNERS AND OPERATORS OF DINING ESTABLISHMENTS
Issued Ordinary Capital*	:	$11,414,800.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 11,414,800
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$11,414,800.00 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	:	1
No. of Local Associates	:	1
Auditor	:	PRUDENTIAL PUBLIC ACCOUNTING CORPORATION
Bankers / Financiers	:	BANK OF BARODA DBS BANK LTD.
Turnover	:	SGD - SIN 248,151,978.00 (FY2009)
Net Worth	:	SGD - SIN 26,762,828.00 (FY2009)
No. of Bank Charges	:	4
No. of Litigation Suits	:	7
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 500
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	NIKHILKUMAR S/O BANSILAL BHOGILAL SHAH
SHAREHOLDER ID	:	S0368781C
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	17 POOLE ROAD SINGAPORE 437503
NO. OF ORD SHARES	:	5,707,400
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	RAJESH BOTHRA
SHAREHOLDER ID	:	S6876629Z
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	60C MEYER ROAD SINGAPORE 437884
NO. OF ORD SHARES	:	5,707,400
% OF SHAREHOLDING	:	50%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	NIKHILKUMAR S/O BANSILAL BHOGILAL SHAH
ADDRESS	:	17 POOLE ROAD SINGAPORE 437503
POSITION	:	DIRECTOR SECRETARY
DATE OF APPT	:	20/03/1978 31/10/1989
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0368781C
NAME	:	RAJESH BOTHRA
ADDRESS	:	60C MEYER ROAD SINGAPORE 437884
POSITION	:	DIRECTOR
DATE OF APPT	:	19/04/1994
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S6876629Z

KEY PERSONNEL PROFILE

Name:	NIKHILKUMAR S/O BANSILAL BHOGILAL SHAH
NRIC Number:	S0368781C
Available Address:	17 POOLE ROAD SINGAPORE 437503

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BOMBAY-WOODLANDS RESTAURANT PRIVATE LIMITED	DIRECTOR	12/04/2007	500000	29.94
2	BOMBAY-WOODLANDS RESTAURANT PRIVATE LIMITED	SECRETARY	16/05/2007	500000	29.94
3	KOBIAN PTE LTD	DIRECTOR	20/03/1978	5707400	50.00
4	KOBIAN PTE LTD	SECRETARY	31/10/1989	5707400	50.00
5	MERCURY PERIPHERALS, INC. PTE LTD	DIRECTOR	23/08/1994	125000	50.00
6	NOSTRA PTE LTD	DIRECTOR	07/11/1986	600000	60.00
7	NOSTRA PTE LTD	SECRETARY	14/09/1994	600000	60.00
8	UNION GLORY CORPORATION PTE. LTD.	DIRECTOR	08/10/2010	500	50.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	AL FORNO (ORCHARD) PTE. LTD.	STRUCK OFF	SECRETARY	29/10/2007	07/08/2009
2	ARIHANT ENTERPRISE PRIVATE LIM ITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	15/06/1981	04/03/1986
3	ARIHANT ENTERPRISE PRIVATE LIM ITED	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-
4	CHANDULAL AND COMPANY	TERMINATION	MANAGER	01/01/1979	20/04/2006
5	CHANDULAL AND COMPANY	TERMINATION	OWNER	01/01/1979	20/04/2006
6	MAINSTREAM PUBLISHERS PTE. LTD.	LIVE COMPANY	DIRECTOR	31/03/1989	27/06/1997
7	NOSTRA MANPOWER PTE LTD	LIVE COMPANY	DIRECTOR	17/11/1987	30/07/1997
8	NOSTRA SERVICES PTE. LTD.	LIVE COMPANY	DIRECTOR	01/09/1988	30/09/1997
9	NOSTRA SERVICES PTE. LTD.	LIVE COMPANY	SECRETARY	05/12/1994	30/09/1997
10	NOSTRA TRANSPORT PTE LTD	STRUCK OFF	DIRECTOR	22/03/1989	05/01/1991
11	NOSTRA TRANSPORT PTE LTD	STRUCK OFF	SECRETARY	22/03/1989	26/01/1993
12	RHYTHMS OF INDIA PTE. LTD.	GAZETTED TO BE STRUCK OFF	DIRECTOR	27/09/1990	30/08/1997
13	RHYTHMS OF INDIA PTE. LTD.	GAZETTED TO BE STRUCK OFF	SECRETARY	27/09/1990	30/08/1997
14	SELTRON PTE LTD	GAZETTED TO BE STRUCK OFF	DIRECTOR	20/06/1987	-
15	THE SUGAR-FREE OUTLET PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	25/06/1993	13/10/1994
16	ZANICO (S) PTE LTD	LIVE COMPANY	SECRETARY	31/12/1988	02/05/1991

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 (%)
BOMBAY-WOODLANDS RESTAURANT PRIVATE LIMITED	40.11
INDIAN WOK	NA (SOLE-PROPRIETOR)

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 4 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C200908637
	Date of Registration	:	28/12/2009
	Chargee	:	BANK OF BARODA
	Address	:	9 RAFFLES PLACE #34-02 REPUBLIC PLAZA SINGAPORE 048619
2)	Charge No.	:	199705208
	Date of Registration	:	26/08/1997
	Chargee	:	DBS BANK LTD.
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
3)	Charge No.	:	199705035
	Date of Registration	:	20/08/1997
	Chargee	:	DBS BANK LTD.
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
4)	Charge No.	:	199705034
	Date of Registration	:	20/08/1997
	Chargee	:	DBS BANK LTD.
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

LITIGATION

The following litigation suits were traced against Subject. Case status is as per available. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT).

To date, there have been 7 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2011	Past Years wef 01 Jan 2011
Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	4
District ($80,000 - $250,000)	0	0
High (>$250,000)	0	3
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Magistrate Court
	Case No.	:	39350
	Date of Filing	:	14/12/2001
	Amount	:	2,400.00
	Cause	:	Negligence - Motor Accidents (Not Injuries / Death)
	Case Status	:	CONCLUDED
	Plaintiff	:	ZAMSHEK BIN SALAMOON
	Last Update Date	:	17/03/2005
2)	Court	:	Magistrate Court
	Case No.	:	40785
	Date of Filing	:	26/12/2001
	Amount	:	0.00
	Cause	:	Negligence - Motor Accidents (Not Injuries / Death)
	Case Status	:	CONCLUDED
	Plaintiff	:	NG CHOR TECK
	Last Update Date	:	14/05/2007
3)	Court	:	Supreme Court
	Case No.	:	608
	Date of Filing	:	25/08/2005
	Amount	:	0.00
	Cause	:	Intellectual Property - Patents
	Case Status	:	CONCLUDED
	Plaintiff	:	TREK TECHNOLOGY (SINGAPORE) PTE LTD
	Last Update Date	:	05/10/2006
4)	Court	:	Magistrate Court
	Case No.	:	20100
	Date of Filing	:	18/08/2006
	Amount	:	16,990.24
	Cause	:	Contract - Provisions of Services Excluding Renovation
	Case Status	:	CONCLUDED
	Plaintiff	:	STONE FOREST CONSULTING PTE LTD
	Last Update Date	:	15/05/2007
5)	Court	:	Supreme Court
	Case No.	:	498
	Date of Filing	:	09/06/2009
	Amount	:	200,000.00
	Cause	:	Contract - Sale of Goods & Services
	Case Status	:	CONCLUDED
	Plaintiff	:	NITS TECHNOLOGY INC.
	Last Update Date	:	28/10/2010
6)	Court	:	Supreme Court
	Case No.	:	594
	Date of Filing	:	10/07/2009
	Amount	:	3,444,535.27
	Cause	:	Contract - Sale of Goods & Services
	Case Status	:	CONCLUDED
	Plaintiff	:	ELITEGROUP COMPUTER SYSTEMS CO., LTD.
	Last Update Date	:	28/10/2010
7)	Court	:	Magistrate Court
	Case No.	:	2243
	Date of Filing	:	15/02/1994
	Amount	:	960.00
	Cause	:	Contracts - General
	Case Status	:	CONCLUDED
	Plaintiff	:	EASTERN PUBLISHING ASSOCIATES PTE LTD
	Last Update Date	:	05/10/2006

COMPLIANCE RECORDS

Date of Last AGM	:	30/06/2010
Date of Last AR	:	19/10/2010
Date of A/C Laid At Last AGM	:	31/12/2009

FINANCIAL HIGHLIGHTS

Financial Figures	Group
	DEC 2008	DEC 2007
Currency	SGD - SIN
Profit and Loss Key Figures
Turnover	189,745,075	0
Profit/(Loss) Before Tax	1,315,142	0
Profit After Tax attributable to Shareholders	1,117,750	0
Balance Sheet Key Figures
Total Assets	70,465,839	0
Current Assets	63,573,875	0
Non Current Assets	6,891,964	0
Total Liabilities	49,284,213	0
Current Liabilities	46,296,781	0
Non Current Liabilities	2,987,432	0
Shareholders' Funds	21,181,626	0
Share Capital	8,642,751	0
Total Reserves	12,538,875	0

FINANCIAL RATIOS

	Group
	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	NA	NA
Profitability
Profit Margin (%)	0.59	NA
Return on Equity (%)	5.28	NA
Return on Assets (%)	1.59	NA
Leverage
Total Debt/Equity (Times)	2.33	NA
Current Debt/Equity (Times)	2.19	NA
Long Term Debt To Equity (Times)	0.14	NA
Total Asset To Total Equity (Times)	3.33	NA
Asset Management
Total Assets Turnover (Times)	2.69	NA
Fixed Assets Turnover (Times)	27.53	NA
Liquidity
Current Ratio (Times)	1.37	NA

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	248,151,978	40.83	176,211,773	193,915,068
Profit/(Loss) Before Tax	2,927,802	130.62	1,269,533	1,208,115
Profit After Tax attributable to Shareholders	2,913,268	169.83	1,079,667	999,664
Balance Sheet Key Figures
Total Assets	78,497,813	11.43	70,445,611	64,055,499
Current Assets	70,924,247	11.70	63,494,245	58,089,472
Non Current Assets	7,573,566	8.95	6,951,366	5,966,027
Total Liabilities	51,734,984	4.77	49,379,822	42,771,289
Current Liabilities	48,369,998	4.26	46,392,390	39,789,283
Non Current Liabilities	3,364,986	12.64	2,987,432	2,982,006
Shareholders' Funds	26,762,828	27.04	21,065,789	21,284,209
Share Capital	11,037,729	27.71	8,642,751	9,204,093
Total Reserves	15,725,099	26.58	12,423,038	12,080,116

FINANCIAL RATIOS

	Company
	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	40.83	-9.13	NA
Profitability
Profit Margin (%)	1.17	0.61	0.52
Return on Equity (%)	10.89	5.13	4.70
Return on Assets (%)	3.71	1.53	1.56
Leverage
Total Debt/Equity (Times)	1.93	2.34	2.01
Current Debt/Equity (Times)	1.81	2.20	1.87
Long Term Debt To Equity (Times)	0.13	0.14	0.14
Total Asset To Total Equity (Times)	2.93	3.34	3.01
Asset Management
Total Assets Turnover (Times)	3.16	2.50	3.03
Fixed Assets Turnover (Times)	32.77	25.35	32.50
Liquidity
Current Ratio (Times)	1.47	1.37	1.46

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 1.17 per cent in FY09 (FY08: 0.61 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.01 a year ago.

Liquidity

Current ratio stood at 1.47 times in FY09 (FY08: 1.37 times). This means that the company has SGD - SIN 1.47 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 1.93 times in FY09, compared with 2.34 times in FY08. This means that the company requires additional external financing of SGD - SIN 1.93 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 10.89 per cent for Subject in the current financial period, as compared to 5.13 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 3.71 per cent (FY08: 1.53 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 3.16 times in FY09 (FY08: 2.50 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.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

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

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.