MIRA
INFORM REPORT
|
Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ECOTEX PTE. LTD. |
|
|
|
|
Registered Office : |
7 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
Dec 2011 |
|
|
|
|
Date of Incorporation : |
30.11.2005 |
|
|
|
|
Com. Reg. No.: |
200516588N |
|
|
|
|
Legal Form : |
Limited Private Company |
|
|
|
|
Line of Business : |
Environmental Engineering Services |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
Company details
|
Company
Name: |
Registered Number: |
|
ECOTEX PTE. LTD. |
200516588N |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
30/11/2005 |
7 |
68978123 |
|
Age of Company: |
Website: |
Industry Type: |
|
7 |
www.ecotex.com.sg |
SERVICES |
|
Directors |
|
Corporate Structure |
||
|
Number of Current Directors |
2 |
Holding Company: |
UNITED TEXMAC PTE LTD |
|
|
Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
NA |
|
EXECUTIVE
SUMMARY
|
: |
ECOTEX PTE.
LTD. |
|
|
Registration
No |
: |
200516588N |
|
Date of
Registration |
: |
30/11/2005 |
|
Former Name |
: |
NA |
|
Date of
Change of Name |
: |
NA |
|
Type of
Company |
: |
LIMITED
PRIVATE COMPANY |
|
Registered
Address |
: |
7 |
|
Date of
Change of Address |
: |
04/04/2006 |
|
Contact No. |
: |
68978123 |
|
Fax No. |
: |
68978133 |
|
Website |
: |
|
|
Registered
Activities |
: |
ENVIRONMENTAL
ENGINEERING SERVICES |
|
Issued
Ordinary Capital* |
: |
$200,000.00 |
|
Issued
Preference Capital |
: |
NA |
|
Paid-Up
Ordinary Capital |
: |
$200,000.00 |
|
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 |
: |
SAW MENG TEE
& PARTNERS PAC |
|
Bankers /
Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN
2,357,120.00 (FY2011) |
|
Net Worth |
: |
SGD - SIN
440,674.00 (FY2011) |
|
No. of Bank
Charges |
: |
NA |
|
No. of Litigation
Suits |
: |
NA |
|
S1000 / SME
1000 / FG50 Ranking |
: |
|
|
Compounded
Annual Growth Rate (CAGR) |
: |
NA |
SHAREHOLDER DETAILS
|
: |
UNITED TEXMAC PTE LTD |
|
|
SHAREHOLDER
ID |
: |
199604132E |
|
NATIONALITY |
: |
|
|
ADDRESS |
: |
7 |
|
NO. OF ORD SHARES |
: |
200,000 |
|
% OF
SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
|
|
|
||
OFFICER DETAILS
|
: |
PUA
YEOW CHUAH |
|
|
ADDRESS |
: |
17
JALAN CHELAGI BUKIT LOYANG ESTATE |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
18/01/2006 |
|
NATIONALITY |
: |
|
|
I/C PASSPORT |
: |
S1638617J |
|
|
||
|
NAME |
: |
RAVISHANKAR
CHANDRASEKHARA VAIDYA |
|
ADDRESS |
: |
10
JALAN LEMPENG #14-04 PARK |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
21/08/2006 |
|
NATIONALITY |
: |
|
|
I/C PASSPORT |
: |
S2673386C |
|
|
||
KEY PERSONNEL PROFILE
|
PUA YEOW CHUAH |
|
|
NRIC Number: |
S1638617J |
|
Available Address: |
17 JALAN CHELAGI
BUKIT LOYANG ESTATE |
Current Business Interest
|
No. |
Name |
Position |
Appt
Date |
#of
Share |
% |
|
ASEAN FEDERATION
OF TEXTILE INDUSTRIES LTD. |
DIRECTOR |
30/12/2010 |
- |
- |
|
|
2 |
BLUEPRINT GROUP
PTE. LTD. |
DIRECTOR |
08/12/2010 |
25501 |
25.50 |
|
3 |
BLUEPRINT GROUP
PTE. LTD. |
SHAREHOLDER |
- |
25501 |
25.50 |
|
4 |
ECOTEX PTE. LTD. |
DIRECTOR |
18/01/2006 |
- |
- |
|
5 |
ECOTEX PTE. LTD. |
MANAGING DIRECTOR |
21/08/2006 |
- |
- |
|
6 |
ECOTEX PTE. LTD. |
SECRETARY |
21/08/2006 |
- |
- |
|
7 |
UNIFAB |
DIRECTOR |
19/04/2011 |
1 |
100.00 |
|
8 |
UNIFAB |
MANAGING DIRECTOR |
19/04/2011 |
1 |
100.00 |
|
9 |
UNITED TEXMAC PTE
LTD |
DIRECTOR |
08/11/1996 |
382766 |
33.28 |
|
10 |
UNITED TEXMAC PTE
LTD |
MANAGING DIRECTOR |
09/09/1998 |
382766 |
33.28 |
|
11 |
UNITED TEXMAC PTE
LTD |
SECRETARY |
15/01/2008 |
382766 |
33.28 |
Previous Business
|
No. |
Name |
Status |
Position |
Appt
Date |
Last Known Inactive Date |
|
FALTEX PTE LTD |
STRUCK OFF |
DIRECTOR |
18/12/1991 |
05/09/1996 |
|
|
2 |
OPAC TRADING &
MARKETING SERVICES |
TERMINATION |
OWNER |
07/11/1989 |
08/11/1990 |
|
3 |
RENEWABLE ENERGY
DEVELOPMENT PTE. LTD. |
STRUCK OFF |
DIRECTOR |
04/07/2007 |
05/06/2008 |
|
4 |
T&S NETWORK
TECHNOLOGY PTE LTD |
STRUCK OFF |
DIRECTOR |
01/07/2002 |
29/07/2002 |
Bankruptcy Record
(Status include petition filed, order made, discharge,
annulment, set aside, rescinded and withdrawn)
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
|
|
|
|
|
|
|
KEY PERSONNEL PROFILE |
||||
Note: Please purchase case details to know the latest
status.
Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
|
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.
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
13/06/2012 |
|
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 |
||||||
|
|
DEC
2011 |
%
Change |
DEC
2010 |
DEC
2009 |
DEC
2008 |
JUN
2007 |
|
Currency |
SGD
- SIN |
|
SGD
- SIN |
SGD
- SIN |
SGD
- SIN |
SGD
- SIN |
|
Profit and Loss Key Figures |
|
|
|
|
|
|
|
2,357,120 |
99.95 |
1,178,882 |
2,463,829 |
2,408,767 |
0 |
|
|
Profit/(Loss) Before Tax |
122,216 |
426.79 |
23,200 |
93,540 |
(15,025) |
0 |
|
Profit After Tax attributable to Shareholders |
123,890 |
630.14 |
16,968 |
88,561 |
(25,398) |
0 |
|
|
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
|
|
Total Assets |
1,677,269 |
145.30 |
683,757 |
992,802 |
732,693 |
0 |
|
Current Assets |
1,668,857 |
148.07 |
672,736 |
985,267 |
725,277 |
0 |
|
Non Current Assets |
8,412 |
-23.67 |
11,021 |
7,535 |
7,416 |
0 |
|
|
|
|
|
|
|
|
|
Total Liabilities |
1,236,595 |
249.19 |
354,131 |
675,029 |
503,779 |
0 |
|
Current Liabilities |
1,236,595 |
249.19 |
354,131 |
675,029 |
503,779 |
0 |
|
Non Current Liabilities |
0 |
NA |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
440,674 |
33.69 |
329,626 |
317,773 |
228,914 |
0 |
|
Share Capital |
200,000 |
0.00 |
200,000 |
200,000 |
200,000 |
0 |
|
Total Reserves |
240,674 |
85.67 |
129,626 |
117,773 |
28,914 |
0 |
|
|
|
|
|
|
|
|
FINANCIAL RATIOS
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||
|
|
DEC
2010 |
DEC
2009 |
DEC
2008 |
JUN
2007 |
|
Currency |
SGD
- SIN |
SGD
- SIN |
SGD
- SIN |
|
|
Profit and Loss Key Figures |
|
|
|
|
|
* |
0 |
0 |
183,000 |
|
|
Profit/(Loss) Before Tax |
* |
0 |
0 |
44,564 |
|
Profit After Tax attributable to Shareholders |
* |
0 |
0 |
44,564 |
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
Total Assets |
544,653 |
596,164 |
632,142 |
376,747 |
|
Current Assets |
478,874 |
535,169 |
572,142 |
316,747 |
|
Non Current Assets |
65,779 |
60,995 |
60,000 |
60,000 |
|
|
|
|
|
|
|
Total Liabilities |
250,363 |
286,923 |
342,109 |
132,183 |
|
Current Liabilities |
250,363 |
286,923 |
342,109 |
132,183 |
|
Non Current Liabilities |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
Shareholders' Funds |
294,290 |
309,241 |
290,033 |
244,564 |
|
Share Capital |
200,000 |
200,000 |
200,000 |
200,000 |
|
Total Reserves |
94,290 |
109,241 |
90,033 |
44,564 |
|
|
|
|
|
|
* As per Companies Act, section 201 Accounts, Consolidated
accounts and directors report, sub-section 3A.
FINANCIAL RATIOS
|
|
||||
|
|
DEC
2010 |
DEC
2009 |
DEC
2008 |
JUN
2007 |
|
Growth % |
|
|
|
|
|
NA |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Profitability |
|
|
|
|
|
Profit Margin (%) |
0.00 |
0.00 |
0.00 |
24.35 |
|
Return on Equity (%) |
0.00 |
0.00 |
0.00 |
18.22 |
|
Return on Assets (%) |
0.00 |
0.00 |
0.00 |
11.83 |
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
Total Debt/Equity (Times) |
0.85 |
0.93 |
1.18 |
0.54 |
|
Current Debt/Equity (Times) |
0.85 |
0.93 |
1.18 |
0.54 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
1.85 |
1.93 |
2.18 |
1.54 |
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
Total Assets Turnover (Times) |
0.00 |
0.00 |
0.00 |
0.49 |
|
Fixed Assets Turnover (Times) |
0.00 |
0.00 |
0.00 |
3.05 |
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
Current Ratio (Times) |
1.91 |
1.87 |
1.67 |
2.40 |
|
|
|
|
|
|
FINANCIAL COMMENTARY
Profitability
The group yielded a rate of net profit
on sales of 5.26 per cent in FY11. The group is now able to book in SGD - SIN
0.05 of profit for every SGD - SIN of sales.
Liquidity
Current ratio stood at 1.35
times in FY11. This means that the group has SGD - SIN 1.35 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.
FINANCIAL COMMENTARY
Leverage
Total debt-to-equity ratio
notched 2.81 times in FY11. This means that the group requires additional
external financing of SGD - SIN 2.81 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 28.11 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 7.39 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 1.41 times in FY11.
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.54.72 |
|
|
1 |
Rs.88.60 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.