MIRA INFORM REPORT

 

 

Report Date :

11.09.2012

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL POWER SOURCE PTE. LTD.

 

 

Registered Office :

1 Commonwealth Lane #04-24 One Commonwealth Singapore 149544

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011 (Group)

31.03.2009 (Company)

 

 

Date of Incorporation :

05.04.2004

 

 

Com. Reg. No.:

200404078N

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Wholesaler of Electronic Components

 

 

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 – 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

 

 

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:

GLOBAL POWER SOURCE PTE. LTD.

200404078N

 

Date Incorporated:

Registered Office:

Telephone Number:

05/04/2004

1 COMMONWEALTH LANE #04-24 ONE COMMONWEALTH SINGAPORE 149544

6338 6879

Age of Company:

Website:

Industry Type:

8

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

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

DIPAK DHIRAJLAL GANDHI

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

GLOBAL POWER SOURCE PTE. LTD.

Registration No

:

200404078N

Date of Registration

:

05/04/2004

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

1 COMMONWEALTH LANE #04-24 ONE COMMONWEALTH SINGAPORE 149544

Date of Change of Address

:

10/10/2011

Contact No.

:

6338 6879

Fax No.

:

6295 5114

Website

:

NA

Registered Activities

:

1. WHOLESALE OF ELECTRONIC COMPONENTS

2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

IMPORT EXPORT,DISTRIBUTE, REPACK BATTERIES, POWER SEMICONDUCTOR DEVICES, UPS

Issued Ordinary Capital*

:

$600,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 600,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$600,000.00 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

:

RAMA & CO

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SGD - SIN 22,329,946.00 (FY2011)

Net Worth

:

SGD - SIN 902,946.00 (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)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

DIPAK DHIRAJLAL GANDHI

SHAREHOLDER ID

:

E4106925

NATIONALITY

:

INDIAN

ADDRESS

:

#405, SAHYADRI BLDG, NEELKANTH VALLEY, 7TH ROAD, RAJAWADI, GHATKOPAR (E), MUMBAI, INDIA

NO. OF ORD SHARES

:

599,988

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TIN TIN WAI

SHAREHOLDER ID

:

S7582647H

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

627 SENJA ROAD #15-182 SINGAPORE 670627

NO. OF ORD SHARES

:

12

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

DIPAK DHIRAJLAL GANDHI

ADDRESS

:

#405, SAHYADRI BLDG, NEELKANTH VALLEY, 7TH ROAD, RAJAWADI, GHATKOPAR (E), MUMBAI, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

05/04/2004

NATIONALITY

:

INDIAN

I/C PASSPORT

:

E4106925

 

NAME

:

CLIFFORD EMMANUEL GERMAIN ABAYASEKARA

ADDRESS

:

407B FERNVALE ROAD #04-13 SINGAPORE 792407

POSITION

:

SECRETARY

DATE OF APPT

:

02/06/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2191478I

 

NAME

:

TIN TIN WAI

ADDRESS

:

627 SENJA ROAD #15-182 SINGAPORE 670627

POSITION

:

DIRECTOR

DATE OF APPT

:

01/06/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7582647H

 

NAME

:

VINIT DIPAK GANDHI

ADDRESS

:

6 MARINA BOULEVARD #56-18 SAIL @ MARINA BAY, THE SINGAPORE 018985

POSITION

:

DIRECTOR

DATE OF APPT

:

03/09/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S8578773Z

 

 

KEY PERSONNEL PROFILE

 

Name:

DIPAK DHIRAJLAL GANDHI

NRIC Number:

E4106925

Available Address:

#405, SAHYADRI BLDG, NEELKANTH VALLEY, 7TH ROAD, RAJAWADI, GHATKOPAR (E), MUMBAI, INDIA

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

GLOBAL POWER SOURCE PTE. LTD.

DIRECTOR

05/04/2004

599988

99.99

 

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.

:

C201200516

 

Date of Registration

:

11/01/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

25/01/2012

Date of Last AR

:

24/02/2012

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

Group

 

MAR 2011

% Change

MAR 2010

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

22,329,946

11.03

20,111,235

Profit/(Loss) Before Tax

201,406

29.08

156,027

Profit After Tax attributable to Shareholders

178,300

24.82

142,843

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

6,518,906

-19.76

8,124,033

Current Assets

6,345,168

-21.77

8,110,875

Non Current Assets

173,738

1,220.40

13,158

 

 

 

 

Total Liabilities

5,615,961

-23.50

7,341,401

Current Liabilities

5,469,472

-25.50

7,341,401

Non Current Liabilities

146,489

NA

0

 

 

 

 

Shareholders' Funds

902,946

15.37

782,632

Share Capital

269,318

46.72

183,558

Total Reserves

633,628

5.77

599,074

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2011

MAR 2010

Growth %

 

 

Year-on-Year Growth

11.03

NA

 

 

 

Profitability

 

 

Profit Margin (%)

0.80

0.71

Return on Equity (%)

19.75

18.25

Return on Assets (%)

2.74

1.76

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

6.22

9.38

Current Debt/Equity (Times)

6.06

9.38

Long Term Debt To Equity (Times)

0.16

NA

Total Asset To Total Equity (Times)

7.22

10.38

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

3.43

2.48

Fixed Assets Turnover (Times)

128.53

1,528.44

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.16

1.10

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2009

% Change

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

21,700,858

58.18

13,718,941

7,015,553

Profit/(Loss) Before Tax

388,346

31.22

295,942

174,377

Profit After Tax attributable

 to Shareholders

344,348

27.52

270,044

168,214

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

4,783,939

20.64

3,965,417

1,759,406

Current Assets

4,776,900

20.74

3,956,313

1,754,698

Non Current Assets

7,039

-22.68

9,104

4,708

 

 

 

 

 

Total Liabilities

4,117,219

16.36

3,538,237

1,489,729

Current Liabilities

4,117,219

16.36

3,538,237

1,489,729

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

666,719

56.07

427,179

269,676

Share Capital

90,580

-1.91

92,346

46,490

Total Reserves

576,139

72.07

334,833

223,186

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

Year-on-Year Growth

58.18

95.55

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

1.59

1.97

2.40

Return on Equity (%)

51.65

63.22

62.38

Return on Assets (%)

7.20

6.81

9.56

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

6.18

8.28

5.52

Current Debt/Equity (Times)

6.18

8.28

5.52

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

7.18

9.28

6.52

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

4.54

3.46

3.99

Fixed Assets Turnover (Times)

3,082.95

1,506.91

1,490.13

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.16

1.12

1.18

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 0.80 per cent in FY11 (FY10: 0.71 per cent). The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.16 times in FY11 (FY10: 1.10 times). This means that the group has SGD - SIN 1.16 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 6.22 times in FY11, as compared with 9.38 times in FY10. This means that the group requires additional external financing of SGD - SIN 6.22 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 19.75 per cent for Subject in the current financial period, as compared to 18.25 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 2.74 per cent (FY10: 1.76 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 3.43 times in FY11 (FY10: 2.48 times). This ratio measures the group'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.55.34

UK Pound

1

Rs.88.50

Euro

1

Rs.70.74

 

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.