MIRA
INFORM REPORT
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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HIMU RICH PTE LTD |
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Formerly Known As : |
Vasbro Investment
Pte Ltd |
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Registered Office : |
111 North Bridge Road #16-04 Peninsula Plaza Singapore 179098 |
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Country : |
Singapore |
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Financials (as on) : |
29.02.2007 |
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Date of Incorporation : |
01.02.1986 |
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Com. Reg. No.: |
198600240Z |
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Legal Form : |
General Wholesale Trade (Including General Importers And Exporters) |
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Line of Business : |
Limited Exempt Private Company |
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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 : |
Undetermined |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Contact Points
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Company Name: |
Himu Rich Pte Ltd |
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Supplied Name: |
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Supplied
Address: |
141, Cecil Street, 07-07 Tung Ann Association Building Singapore |
Notes: Subject’s exact name is not available.
Credit Summary
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Credit Opinion: |
Since we did not find subject, in view of the absence of information about
subject’s operation, caution should be exercised. |
Special Notes
The supplied telephone number +65-3237944 and fax +65-3237942 does not exist and according to the supplied address 141, Cecil Street, 07-07 Tung Ann Association Building Singapore, we found a company named Pankti International Pte. Ltd based there with similar phone number +65-6323-7944 and fax +65-6323-7942, we tried to call the number, the lady who answered the phone introduced that she has never heard of subject’s name.
We did not find any valid contact information of subject from public files according to the supplied name or address, either.
From public files, we found that subject is a trader of FIBC and it imports from USA and India, but since we did not get in touch with subject, the information is not confirmed.
Up to the date of reporting, we failed to get in touch with subject, if
you kindly supply other contact, we’d like to continue our investigation.
We found subject’s registration information from local registry,
supplying as follows for reference.
Company Identification Details
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Registered
Name: |
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Registered
Address: |
111 North Bridge Road #16-04 Peninsula Plaza Singapore 179098 |
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Date
of Registration:: |
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Registered
Number: |
198600240Z |
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Country
of Incorporation: |
Singapore |
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Registered
Capital: |
SGD 2 (USD 1.6) (As of 2012.09,
1 SGD = 0.8056 USD) |
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Paid-up
Capital: |
SGD 2 (USD 1.6)
= 2 Shares@1 SGD |
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Legal
Form: |
Limited Exempt
Private Company |
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Principal
Activities: |
46900--General
Wholesale Trade (Including General Importers And Exporters) |
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N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
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Date of Last
Annual Return: |
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Notes: Information on
staff is not available from subject or other sources.
History
Subject was incorporated on
Date of Change
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Date |
Change |
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Vasbro
Investment Pte Ltd |
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|
Himu Rich Pte
Ltd |
Shareholders
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Subscription
Amount |
Proportion
of Investment (%) |
|
|
Vinay Birla |
1 |
50% |
|
Archana Birla |
1 |
50% |
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Total |
2 |
100% |
Major Shareholder Information:
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1 |
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Name: |
Vinay Birla |
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ID Number: |
S |
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Address: |
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2 |
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Name: |
Archana Birla |
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ID Number: |
S |
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Address: |
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Subsidiaries & Branches
Subject did not register any subsidiaries or branches; from other source we can not obtain the relevant information, either.
Management Information
Detailed Information
of Management:
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1 |
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Name: |
Vinay Birla |
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Position: |
Director |
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ID Number: |
S |
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Address: |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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2 |
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Name: |
Vinay Birla |
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Position: |
Secretary |
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ID Number: |
S |
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Address: |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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3 |
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Name: |
Archana Birla |
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Position: |
Director |
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ID Number: |
S |
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Address: |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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Operation Information
Offices & Factories
We can not confirm subject’s current trading address
Operation Information
From public files, we found that subject is a trader of FIBC and it imports from USA and India, but since we did not get in touch with subject, the information is not confirmed.
Settlements
We can not confirm the settlement information from subject or other sources.
Balance Sheet
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|
2007-2-29 |
2006-2-29 |
2005-2-29 |
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1,773.00 |
1,984.00 |
2,272.00 |
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Total
Current Assets |
1,773.00 |
1,984.00 |
2,272.00 |
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Total
Non-Current Assets f.k.a. [Fixed
And Others] |
0.00 |
0.00 |
0.00 |
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Total
Liabilities |
17,773.00 |
17,173.00 |
16,693.00 |
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Total
Current Liabilities |
17,773.00 |
17,173.00 |
16,693.00 |
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Total
Non-Current Liabilities |
0.00 |
0.00 |
0.00 |
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Total
Equity f.k.a [Shareholder's Funds] |
(16,000.00) (USD -12,890) |
(15,189.00) (USD -12,236) |
14,421.00 (USD 11,618) |
|
Share
Capital |
2.00 |
2.00 |
- |
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Other
Reserves, Total f.k.a. [Reserves] |
0.00 |
0.00 |
0.00 |
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Retained
Earnings/(Accumulated Loss) |
(16,002.00) |
(15,191.00) |
(14,423.00) 0.00 |
(As of 2012.09, 1 SGD = 0.8056 USD)
Profit/Loss Account
Unit: SGD
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|
~2007-2-29 |
~2006-2-29 |
~2005-2-29 |
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Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
0.00 |
0.00 |
0.00 |
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Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
(811.00) |
(768.00) |
(1,427.00) |
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Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
(811.00) |
(768.00) |
(1,427.00) |
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Net Income/(Loss) From Extraordinary And
Non-Operating Items |
N.A. |
N.A. |
N.A. |
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Profit/(Loss) After Tax and Extraordinary Items |
N.A. |
N.A. |
N.A. |
Financial Ratio
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|
~2007-2-29 |
~2006-2-29 |
~2005-2-29 |
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Earning Capacity |
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Rate of Net Profit on Sales (%) |
0.00 |
0.00 |
0.00 |
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Return of Investment (%) |
(45.74) |
(38.71) |
(62.81) |
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Return of Shareholder's Funds (%) |
0.00 |
0.00 |
(9.90) |
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Total Assets Turnover (%) |
0.00 |
0.00 |
0.00 |
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Financial Stability |
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Current/Working Capital Ratio (%) |
0.10 |
0.12 |
0.14 |
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Proprietary Ratio (%) |
(902.43) |
(765.57) |
634.73 |
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Total Debt to Equity Ratio (%) |
1,002.43 |
865.57 |
53.65 |
We did not find
the latest financials of subject from local registry or other sources, the
financials above are what we can obtain from all of our available sources.
Bankers
Information on
bank details is not available from subject or other sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
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.