MIRA INFORM REPORT

Report Date :

02.11.2012

IDENTIFICATION DETAILS

Name :	MULTIBIS (SINGAPORE) PTE LTD
Registered Office :	1A International Business Park #06-02 Singapore 609933
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	24.07.1978
Com. Reg. No.:	197801820Z
Legal Form :	Limited Exempt Private Company
Line of Business :	Wholesale on A Fee or Contract Basis (Eg Commission Agents)
No. of Employees :	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 :	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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Singapore	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SINGAPORE - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

Company Name:	Registered Number:
MULTIBIS (SINGAPORE) PTE LTD	197801820Z

Date Incorporated:	Registered Office:	Telephone Number:
24/07/1978	1A INTERNATIONAL BUSINESS PARK #06-02 SINGAPORE 609933	6225 7966
Age of Company:	Website:	Industry Type:
34	NA	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 1
Industry DTC
25

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	NA
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	MULTIBIS (SINGAPORE) PTE LTD
Registration No	:	197801820Z
Date of Registration	:	24/07/1978
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	1A INTERNATIONAL BUSINESS PARK #06-02 SINGAPORE 609933
Date of Change of Address	:	21/06/2010
Contact No.	:	6225 7966
Fax No.	:	6223 1300
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)
Issued Ordinary Capital*	:	$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,000,000.00 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 MENON & ASSOCIATES
Bankers / Financiers	:	HABIB BANK LIMITED
Turnover	:	SINGAPORE, DOLLARS 28,881,442.90 (FY2011)
Net Worth	:	SINGAPORE, DOLLARS 4,237,699.19 (FY2011)
No. of Bank Charges	:	1
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	470 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011) 467 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010) 221 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2008/2009) 491 POSITION IN SME 500 Companies Ranked by Net Profit (2007/2008) 263 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2007/2008)
Compounded Annual Growth Rate (CAGR)	:	5.41% (4 years)

SHAREHOLDER DETAILS

NAME	:	KHETAN ASHOK RADHAVALLABH
SHAREHOLDER ID	:	S2202069B
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	83 MEYER ROAD #10-01 MEYER PARK SINGAPORE 437910
NO. OF ORD SHARES	:	1,000,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	NG GUAT CHING
ADDRESS	:	666 JALAN DAMAI #13-101 SINGAPORE 410666
POSITION	:	DIRECTOR
DATE OF APPT	:	10/10/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1344657A
NAME	:	KHETAN ASHOK RADHAVALLABH
ADDRESS	:	83 MEYER ROAD #10-01 MEYER PARK SINGAPORE 437910
POSITION	:
DATE OF APPT	:
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2202069B

KEY PERSONNEL PROFILE

Name:	KHETAN ASHOK RADHAVALLABH
NRIC Number:	S2202069B
Available Address:	83 MEYER ROAD #10-01 MEYER PARK SINGAPORE 437910

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	CHEMINTRA PTE LTD	DIRECTOR	04/09/1992	175000	35.00
2	CHEMINTRA PTE LTD	MANAGING DIRECTOR	04/09/1992	175000	35.00
3	KAPPA INTERNATIONAL PTE LTD	DIRECTOR	10/10/2012	-	-
4	KPA INVESTMENT & HOLDINGS PTE. LTD.	DIRECTOR	12/10/2006	500	50.00
5	KPA INVESTMENT & HOLDINGS PTE. LTD.	SECRETARY	16/10/2006	500	50.00
6	MULTI-GLOBIS INTERNATIONAL PTE LTD	DIRECTOR	31/03/1994	175000	35.00
7	MULTI-GLOBIS INTERNATIONAL PTE LTD	SECRETARY	31/03/1994	175000	35.00
8	MULTIBIS (SINGAPORE) PTE LTD	DIRECTOR	04/09/1992	350000	35.00
9	MULTIBIS (SINGAPORE) PTE LTD	MANAGING DIRECTOR	04/09/1992	350000	35.00
10	MULTIBIS (SINGAPORE) PTE LTD	SECRETARY	15/06/1981	350000	35.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	GLOBAL MINMET PTE. LTD.	GAZETTED TO BE STRUCK OFF	DIRECTOR	17/10/2006	-
2	GLOBAL MINMET PTE. LTD.	GAZETTED TO BE STRUCK OFF	SECRETARY	17/10/2006	-
3	GLOBAL MINMET PTE. LTD.	GAZETTED TO BE STRUCK OFF	SHAREHOLDER	-	-
4	J'S ECOWORLD PTE. LTD.	LIVE COMPANY	DIRECTOR	10/11/2004	05/05/2010
5	J'S ECOWORLD PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	05/05/2010
6	JS SOFTWARE INVESTMENT PTE. LTD.	GAZETTED TO BE STRUCK OFF	SHAREHOLDER	-	-
7	MEGA 7 FOOD INDUSTRY PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	22/10/2012
8	ROYAL GLOBAL PTE LTD	STRUCK OFF	ALTERNATE DIRECTOR	17/10/1995	-
9	ROYAL GLOBAL PTE LTD	STRUCK OFF	DIRECTOR	17/11/2003	-

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
H	765	-	2012	11/09/2012	SGD 70,000,000.00	-

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.	:	200300009
	Date of Registration	:	02/01/2003
	Chargee	:	HABIB BANK LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	3 PHILLIP STREET #01-03 COMMERCE POINT SINGAPORE 048693

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	28/06/2012
Date of Last AR	:	06/07/2012
Date of A/C Laid At Last AGM	:	31/12/2011

COMPLIANCE RATING FOR ANNUAL FILING

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

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 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SINGAPORE, DOLLARS		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	28,881,443	41.94	20,347,278	22,286,734	28,879,453	23,397,047
Profit/(Loss) Before Tax	439,873	45.99	301,307	379,221	452,172	401,312
Profit After Tax attributable to Shareholders	385,540	35.27	285,010	347,703	388,568	356,615
Balance Sheet Key Figures
Total Assets	6,959,075	-7.07	7,488,581	6,865,133	7,350,667	6,767,179
Current Assets	6,873,529	-5.93	7,306,800	6,862,323	7,345,954	6,751,866
Non Current Assets	85,546	-52.94	181,781	2,810	4,713	15,313
Total Liabilities	2,721,375	-17.87	3,313,491	2,705,233	3,654,156	3,391,189
Current Liabilities	2,721,375	-17.87	3,313,491	2,705,233	3,654,156	3,391,189
Non Current Liabilities	0	NA	0	0	0	0
Shareholders' Funds	4,237,699	1.50	4,175,090	4,159,899	3,696,510	3,375,990
Share Capital	871,874	-7.73	944,965	1,010,508	979,843	1,000,000
Total Reserves	3,365,825	4.20	3,230,125	3,149,391	2,716,667	2,375,990

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	41.94	-8.70	-22.83	23.43	NA
Profitability
Profit Margin (%)	1.33	1.40	1.56	1.35	1.52
Return on Equity (%)	9.10	6.83	8.36	10.51	10.56
Return on Assets (%)	5.54	3.81	5.06	5.29	5.27
Leverage
Total Debt/Equity (Times)	0.64	0.79	0.65	0.99	1.00
Current Debt/Equity (Times)	0.64	0.79	0.65	0.99	1.00
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	1.64	1.79	1.65	1.99	2.00
Asset Management
Total Assets Turnover (Times)	4.15	2.72	3.25	3.93	3.46
Fixed Assets Turnover (Times)	337.61	111.93	7,931.22	6,127.62	1,527.92
Liquidity
Current Ratio (Times)	2.53	2.21	2.54	2.01	1.99

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 5.41% (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 1.33 per cent in FY11 (FY10: 1.40 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.01 a year ago.

Liquidity

Current ratio stood at 2.53 times in FY11 (FY10: 2.21 times). This means that the company has SINGAPORE, DOLLARS 2.53 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

FINANCIAL COMMENTARY

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 0.64 times in FY11, compared with 0.79 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.64 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 9.10 per cent for Subject in the current financial period, as compared to 6.83 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 5.54 per cent (FY10: 3.81 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

FINANCIAL COMMENTARY

Total assets turnover ratio logged at 4.15 times in FY11 (FY10: 2.72 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.53.78
UK Pound	1	Rs.86.77
Euro	1	Rs.69.71

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.