MIRA INFORM REPORT

Report Date :

24.04.2013

IDENTIFICATION DETAILS

Name :	HCL INSYS PTE. LTD.
Registered Office :	1 North Bridge Road #19-04/05 High Street Centre Singapore 179094
Country :	Singapore
Financials (as on) :	June 2012
Date of Incorporation :	17.12.2009
Com. Reg. No.:	200923568M
Legal Form :	Limited Private Company
Line of Business :	Computer facilities management activities Computer facilities management activities, managed services, cloud computing
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 30^th, 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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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:
HCL INSYS PTE. LTD.	200923568M

Date Incorporated:	Registered Office:	Telephone Number:
17/12/2009	1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE SINGAPORE 179094	6392 2482
Age of Company:	Website:	Industry Type:
4	www.hclinfosystems.in	INFORMATION & COMMUNICATIONS

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
20
Payment pattern as per previous month		No. of Charges(s): 1
Industry DTC
33

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	HCL INFOSYSTEMS LTD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	HCL INSYS PTE. LTD.
Registration No	:	200923568M
Date of Registration	:	17/12/2009
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE SINGAPORE 179094
Operating Office	:	51 Changi Business Park Control II #09-02 The Signature Singapore 486066
Date of Change of Address	:	17/12/2009
Contact No.	:	6392 2482
Fax No.	:	6392 2971
Website	:	www.hclinfosystems.in
Registered Activities	:	1. COMPUTER FACILITIES MANAGEMENT ACTIVITIES COMPUTER FACILITIES MANAGEMENT ACTIVITIES, MANAGED SERVICES, CLOUD COMPUTING 2. OTHER INFORMATION TECHNOLOGY AND COMPUTER SERVICE ACTIVITIES (EG DISASTER RECOVERY SERVICES) ICT, IT HARDWARE & SOFTWARE, LEARNING SOLUTIONS & SYSTEMS INTEGRATION
Issued Ordinary Capital*	:	$6,199,991.00 SINGAPORE, DOLLARS, NO. OF SHARE : 6,199,991 $3,800,000.00 UNITED STATES OF AMERICA, DOLLARS, NO. OF SHARE : 3,800,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$3,800,000.00 UNITED STATES OF AMERICA, DOLLARS $6,199,991.00 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	:	PRICEWATERHOUSECOOPERS LLP
Bankers / Financiers	:	STANDARD CHARTERED BANK
Turnover	:	SGD - SIN 103,238,523.00 (FY2012)
Net Worth	:	SGD - SIN 8,059,911.00 (FY2012)
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	:	HCL INFOSYSTEMS LTD.
SHAREHOLDER ID	:	T09UF3225D
NATIONALITY	:	INDIA
ADDRESS	:	E- 4, 5&6, SECTOR - 11 NOIDA - 201301, UTTAR PRADESH, INDIA
NO. OF ORD SHARES	:	3,800,000 6,199,991
% OF SHAREHOLDING	:	38% 62%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	SUNDARAM SRIDHARAN
ADDRESS	:	37 JURONG EAST AVENUE 1 #15-04 PARC OASIS SINGAPORE 609775
POSITION	:	DIRECTOR
DATE OF APPT	:	17/12/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	E3454910K
NAME	:	SANDEEP KANWAR
ADDRESS	:	N-18C, SAKET NEW DELHI- 110017 INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	17/12/2009
NATIONALITY	:	INDIAN
I/C PASSPORT	:	G6717125
NAME	:	VANGAL RANGARAJAN RANGANATHAN
ADDRESS	:	207 SERANGOON CENTRAL #11-198 SINGAPORE 550207
POSITION	:	SECRETARY
DATE OF APPT	:	17/12/2009
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2662860A

KEY PERSONNEL PROFILE

Name:	SUNDARAM SRIDHARAN
NRIC Number:	E3454910K
Available Address:	37 JURONG EAST AVENUE 1 #15-04 PARC OASIS SINGAPORE 609775

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	HCL INFOSYSTEMS LIMITED	AGENT	02/05/2006	-	NA
2	HCL INSYS PTE. LTD.	DIRECTOR	17/12/2009	-	NA
3	HCL INVESTMENTS PTE. LTD.	DIRECTOR	29/11/2010	-	NA
4	HCL SINGAPORE PTE. LTD.	DIRECTOR	10/02/2003	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	DELL SERVICES PTE. LTD.	LIVE COMPANY	DIRECTOR	01/04/1999	15/01/2013

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.	:	C201303388
	Date of Registration	:	01/03/2013
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	08/11/2012
Date of Last AR	:	06/12/2012
Date of A/C Laid At Last AGM	:	30/06/2012

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	Company
	JUN 2012	% Change	JUN 2011	JUN 2010
Currency	SGD - SIN		SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	103,238,523	103.08	50,835,499	6,573,319
Profit/(Loss) Before Tax	1,649,455	111.56	779,676	21,191
Profit After Tax attributable to Shareholders	1,649,455	111.56	779,676	21,191
Balance Sheet Key Figures
Total Assets	25,556,887	45.14	17,608,291	3,620,267
Current Assets	19,722,249	66.31	11,858,536	3,411,932
Non Current Assets	5,834,638	1.48	5,749,755	208,335
Total Liabilities	17,496,977	58.34	11,050,126	3,398,483
Current Liabilities	17,496,977	58.34	11,050,126	3,398,483
Non Current Liabilities	0	NA	0	0
Shareholders' Funds	8,059,911	22.90	6,558,166	221,783
Share Capital	5,629,278	-2.25	5,758,989	200,592
Total Reserves	2,430,633	204.14	799,177	21,191

FINANCIAL RATIOS

	Company
	JUN 2012	JUN 2011	JUN 2010
Growth %
Year-on-Year Growth	103.08	673.36	NA
Profitability
Profit Margin (%)	1.60	1.53	0.32
Return on Equity (%)	20.46	11.89	9.55
Return on Assets (%)	6.45	4.43	0.59
Leverage
Total Debt/Equity (Times)	2.17	1.68	15.32
Current Debt/Equity (Times)	2.17	1.68	15.32
Long Term Debt To Equity (Times)	0.00	0.00	0.00
Total Asset To Total Equity (Times)	3.17	2.68	16.32
Asset Management
Total Assets Turnover (Times)	4.04	2.89	1.82
Fixed Assets Turnover (Times)	17.69	8.84	31.55
Liquidity
Current Ratio (Times)	1.13	1.07	1.00

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 1.60 per cent in FY12 (FY11: 1.53 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.02 a year ago.

Liquidity

Current ratio stood at 1.13 times in FY12 (FY11: 1.07 times). This means that the company has SGD - SIN 1.13 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 2.17 times in FY12, compared with 1.68 times in FY11. This means that the company requires additional external financing of SGD - SIN 2.17 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 20.46 per cent for Subject in the current financial period, as compared to 11.89 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 6.45 per cent (FY11: 4.43 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 4.04 times in FY12 (FY11: 2.89 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.54.30
UK Pound	1	Rs.82.88
Euro	1	Rs.70.80

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.