MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ACE EXIM PTE. LTD.

 

 

Registered Office :

10 Anson Road #27-03a International Plaza Singapore 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

27.06.2007

 

 

Com. Reg. No.:

200711502M

 

 

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 :

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

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:

ACE EXIM PTE. LTD.

200711502M

 

Date Incorporated:

Registered Office:

Telephone Number:

27/06/2007

10 ANSON ROAD #27-03A INTERNATIONAL PLAZA SINGAPORE 079903

62248240

Age of Company:

Website:

Industry Type:

5

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

4

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

ACE EXIM PTE. LTD.

Registration No

:

200711502M

Date of Registration

:

27/06/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

10 ANSON ROAD #27-03A INTERNATIONAL PLAZA SINGAPORE 079903

Date of Change of Address

:

16/11/2010

Contact No.

:

62248240

Fax No.

:

NA

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$500,002.00 U.S. DOLLAR ,NO. OF SHARE : 500,002

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$500,002.00 U.S. DOLLAR

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

:

NATARAJAN & SWAMINATHAN

Bankers / Financiers

:

INDIAN OVERSEAS BANK

Turnover

:

SINGAPORE, DOLLARS 69,213,597.74 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 1,863,737.78 (FY2011)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

118.81% (3 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

DAYAL STEELS PVT. LTD.

SHAREHOLDER ID

:

T07UF3184D

NATIONALITY

:

INDIA

ADDRESS

:

D-1072 NEW FRIENDS COLONY NEW DELHI

NO. OF ORD SHARES

:

250,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

MJ SCRAP PVT. LTD.

SHAREHOLDER ID

:

T07UF3185L

NATIONALITY

:

INDIA

ADDRESS

:

135/40 GIRISH GHOSH ROAD BELUR HOWRAH WEST BENGAL

NO. OF ORD SHARES

:

250,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

SANJIV AGARWAL

SHAREHOLDER ID

:

G2018388

NATIONALITY

:

INDIAN

ADDRESS

:

42 GANESH CHANDRA AVENUE KOLKATA 700013

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

KUMAR ABHINAV SUBODH

SHAREHOLDER ID

:

G5042116W

NATIONALITY

:

INDIAN

ADDRESS

:

10 ANSON ROAD #27-03A INTERNATIONAL PLAZA SINGAPORE 079903

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

SANJIV AGARWAL

ADDRESS

:

42 GANESH CHANDRA AVENUE KOLKATA 700013

POSITION

:

DIRECTOR

DATE OF APPT

:

27/06/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G2018388

 

NAME

:

KUMAR ABHINAV SUBODH

ADDRESS

:

10 ANSON ROAD #27-03A INTERNATIONAL PLAZA SINGAPORE 079903

POSITION

:

DIRECTOR

DATE OF APPT

:

27/06/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G5042116W

 

 

KEY PERSONNEL PROFILE

 

Name:

SANJIV AGARWAL

NRIC Number:

G2018388

Available Address:

42 GANESH CHANDRA AVENUE KOLKATA 700013

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ACE EXIM PTE. LTD.

DIRECTOR

27/06/2007

1

0.00

 

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.

Transfer

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201110145

 

Date of Registration

:

16/08/2011

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/09/2011

Date of Last AR

:

04/11/2011

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

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

69,213,598

120.71

31,358,968

10,981,190

6,606,592

Profit/(Loss) Before Tax

833,193

67.56

497,252

78,852

14,084

Profit After Tax attributable

 to Shareholders

712,407

62.45

438,545

72,505

13,093

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

11,877,562

210.29

3,827,898

7,287,543

1,953,436

Current Assets

11,797,965

208.21

3,827,898

7,287,543

1,953,436

Non Current Assets

79,596

NA

0

0

0

 

 

 

 

 

 

Total Liabilities

10,013,824

286.28

2,592,385

6,769,379

1,502,350

Current Liabilities

9,969,111

284.55

2,592,385

6,769,379

1,502,350

Non Current Liabilities

44,712

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

1,863,738

50.85

1,235,513

518,163

451,087

Share Capital

664,003

-6.81

712,553

432,723

437,994

Total Reserves

1,199,735

129.41

522,960

85,441

13,093

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

Year-on-Year Growth

120.71

185.57

66.22

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

1.03

1.40

0.66

0.20

Return on Equity (%)

38.22

35.49

13.99

2.90

Return on Assets (%)

6.00

11.46

0.99

0.67

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

5.37

2.10

13.06

3.33

Current Debt/Equity (Times)

5.35

2.10

13.06

3.33

Long Term Debt To Equity (Times)

0.02

0.00

0.00

0.00

Total Asset To Total Equity (Times)

6.37

3.10

14.06

4.33

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

5.83

8.19

1.51

3.38

Fixed Assets Turnover (Times)

869.56

0.00

0.00

0.00

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.18

1.48

1.08

1.30

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 118.81% (3 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 1.03 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 1.18 times in FY11 (FY10: 1.48 times). This means that the company has SINGAPORE, DOLLARS 1.18 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.

 

 

Leverage

Total debt-to-equity ratio notched 5.37 times in FY11, compared with 2.10 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 5.37 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 38.22 per cent for Subject in the current financial period, as compared to 35.49 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 6.00 per cent (FY10: 11.46 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 5.83 times in FY11 (FY10: 8.19 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.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.