MIRA
INFORM REPORT
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Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
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Name : |
INGRAM MICRO INDIA LIMITED |
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Registered Office : |
205 Kallang Bahru #1m-00 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
12.05.2010 |
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Com. Reg. No.: |
T10FC0043L |
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Legal Form : |
Foreign Company Registered In |
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Line of Business : |
Wholesale of computer hardware and peripheral equipment Wholesale of computer software (except games) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Poor |
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Payment Behaviour : |
Slow |
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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 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Executive Summary
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: |
Ingram Micro
India Limited Singapore Branch |
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Registration No |
: |
T10FC0043L |
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Date of Registration |
: |
12/05/2010 |
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Former Name |
: |
NA |
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Date of Change of Name |
: |
NA |
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Type of Company |
: |
Foreign Company Registered In Singapore |
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Registered Address |
: |
205 KALLANG BAHRU #1M-00 MAYA PLASTIC
BUILDING SINGAPORE 339341 |
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Date of Change of Address |
: |
12/05/2010 |
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Contact No. |
: |
NA |
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Fax No. |
: |
NA |
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Website |
: |
NA |
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Registered Activities |
: |
1. Wholesale Of Computer Hardware And Peripheral
Equipment 2. Wholesale Of Computer Software (Except
Games) |
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Issued Ordinary Capital* |
: |
NA |
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Issued Preference Capital |
: |
NA |
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Paid-Up Ordinary Capital |
: |
NA |
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Paid-Up Preference Capital |
: |
NA |
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* Number of Shares includes number of
Issued Treasury Shares |
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
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Auditor |
: |
NA |
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Bankers / Financiers |
: |
NA |
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Turnover |
: |
$699,359.00 (FY2011) |
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Net Worth |
: |
$30,888.00 (FY2011) |
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No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
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S1000 / SME 1000 / FG50 Ranking |
: |
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SHAREHOLDER DETAILS
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OFFICER DETAILS
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: |
STEPHEN
JOHN PAINE |
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ADDRESS |
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32
ORANGE GROVE ROAD SINGAPORE 258354 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
05/12/2006 |
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NATIONALITY |
: |
BRITISH
SUBJECT |
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I/C PASSPORT |
: |
094512629 |
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NAME |
: |
NG
WAI KONG |
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ADDRESS |
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23
JALAN RAJA UDANG #21-09 ARTE, THE SINGAPORE 329216 |
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POSITION |
: |
AGENT DIRECTOR |
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DATE OF APPT |
: |
12/05/2010 09/07/2010 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S2576317C |
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NAME |
: |
ELLY
THAM |
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ADDRESS |
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112
WESTWOOD CRESCENT SINGAPORE 648803 |
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POSITION |
: |
AGENT |
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DATE OF APPT |
: |
12/05/2010 |
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NATIONALITY |
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SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S7205465B |
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NAME |
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JAISHANKAR
KRISHNAN |
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ADDRESS |
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FLAT
NO. 1201, SOMERSET, 12TH FLOOR, HIRANANDANI GARDENS, POWAI, MUMBAI 400 076 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
27/10/2001 |
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NATIONALITY |
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INDIAN |
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I/C PASSPORT |
: |
Z1780431 |
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NAME |
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SHAILENDRA
NARENDRA GUPTA |
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ADDRESS |
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9
NATHAN ROAD #09-04 SINGAPORE 248730 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
01/09/2001 |
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NATIONALITY |
: |
INDIAN |
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I/C PASSPORT |
: |
Z1813168 |
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KEY PERSONNEL PROFILE
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SHAILENDRA NARENDRA GUPTA |
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NRIC Number: |
Z1813168 |
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Available Address: |
9 NATHAN ROAD #09-04 SINGAPORE 248730 |
Current Business Interest
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No. |
Name |
Position |
Appt Date |
#of Share |
% |
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INGRAM MICRO INDIA LIMITED
SINGAPORE BRANCH |
DIRECTOR |
01/09/2001 |
- |
NA |
Previous Business
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No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive
Date |
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Bankruptcy Record
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Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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Litigation Search – Writ of Summons
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Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES
AND ASSOCIATE COMPANIES IN S’PORE
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Company |
Shareholdings (%) |
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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
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Date of Last AGM |
: |
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Date of Last AR |
: |
NA |
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Date of A/C Laid at Last AGM |
: |
31/03/2011 |
COMPLIANCE RATING FOR ANNUAL FILING
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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
Auditor’s Comments – True and Fair? Yes
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FINANCIAL YEAR
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31/03/2011 $ |
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Turnover |
699,359 |
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Profit Before Tax and Minority Interest |
33,304 |
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Profit After Tax and Minority Interest |
30,888 |
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ASSETS |
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Current Assets |
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Non-current Assets |
0 |
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- Fixed Assets |
0 |
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- Intangible Assets |
0 |
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- Long-term Investments |
0 |
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Total Assets |
4,215,646 |
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LIABILITIES |
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Current Liabilities |
4,184,758 |
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Long-Term Liabilities |
0 |
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Total Liabilities |
4,184,758 |
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SHAREHOLDERS’ FUNDS |
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Share Capital |
0 |
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Share Premium |
0 |
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Retained Earnings |
30,888 |
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Minority Interest |
0 |
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Other Reserves |
0 |
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Shareholders Funds |
30,888 |
Financial figures are presented in USD - USA as reflected in Subject's financial statements and are converted to S$ at the rate of S$1.328 per USD - USA in FYE11 as presented in this report.
FINANCIAL RATIOS
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net profit on
sales of 4.42 per cent in FY11. The company is now able to book in $0.04 of profit
for every dollar of sales.
Liquidity
Current ratio stood at 1.01
times in FY11. This means that the company has $1.01 of current assets for every
dollar of current liability incurred. Subject's current ratio is noted to be
within the industry norm for the sector in which the company is operating.
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 liabilities-to-equity
ratio notched 135.48 times in FY11. This means that the company requires
additional external financing of $135.48 for every dollar injected into its
operations. Subject's total liability-to-equity is noted to be higher than the
industry norm for the sector in which the company is operating.
Generally, a total liability-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.
Return on equity
was 100.00 per cent for Subject in the current financial period. 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 0.73 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 0.17
times in FY11. 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.54.99 |
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UK Pound |
1 |
Rs.87.21 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.