MIRA INFORM REPORT

Report Date :

02.08.2013

Tel No.:

65 6897 8878

IDENTIFICATION DETAILS

Name :	ALLALLOY DYNAWELD PTE. LTD.
Registered Office :	120 Pioneer Road Singapore 639597
Country :	Singapore
Financials (as on) :	December, 2012
Date of Incorporation :	08.01.2008
Com. Reg. No.:	200800620Z
Legal Form :	Limited Private Company
Line of Business :	Manufacture and Repair of Welding and Soldering Equipment (Including Arc Welding Electrodes)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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:
ALLALLOY DYNAWELD PTE. LTD.	200800620Z

Date Incorporated:	Registered Office:	Telephone Number:
08/01/2008	120 PIONEER ROAD SINGAPORE 639597	6897 8878
Age of Company:	Website:	Industry Type:
5	www.allalloy.com	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
50
Worse off than last month;last month the entity took 25 days to pay		No. of Charges(s): 0
Industry DTC
23

Directors		Corporate Structure
Number of Current Directors	5	Holding Company:	ALLALLOY PTE. LTD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

Company Name

ALLALLOY DYNAWELD PTE. LTD.

EXECUTIVE SUMMARY

Company Name	:	ALLALLOY DYNAWELD PTE. LTD.
Registration No	:	200800620Z
Date of Registration	:	08/01/2008
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	120 PIONEER ROAD SINGAPORE 639597
Date of Change of Address	:	08/01/2008
Contact No.	:	6897 8878
Fax No.	:	6897 7006
Website	:	www.allalloy.com
Registered Activities	:	1. MANUFACTURE AND REPAIR OF WELDING AND SOLDERING EQUIPMENT (INCLUDING ARC WELDING ELECTRODES) SALES AND SERVICE OF WELDING EQUIPMENT,ACCES,CONSUMABLE & FILLER METALS 2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,000,000.00 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	:	RSM CHIO LIM LLP
Bankers / Financiers	:	CITIBANK N.A. MALAYAN BANKING BERHAD
Turnover	:	SGD - SIN 40,756,336.00 (FY2012)
Net Worth	:	SGD - SIN 15,400,644.00 (FY2012)
No. of Bank Charges	:	0
No. of Litigation Suits	:	NA

EXECUTIVE SUMMARY

S1000 / SME 1000 / FG50 Ranking	:	373 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2011/2012) 300 POSITION IN SME 1000 Companies Ranked by Net Profit (2011/2012) 339 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011) 278 POSITION IN SME 1000 Companies Ranked by Net Profit (2010/2011) 411 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)
Compounded Annual Growth Rate (CAGR)	:	40.22% (4 years)

SHAREHOLDER DETAILS

NAME	:	ALLALLOY PTE. LTD.
SHAREHOLDER ID	:	200800669H
NATIONALITY	:	SINGAPORE
ADDRESS	:	120 PIONEER ROAD SINGAPORE 639597
NO. OF ORD SHARES	:	1,000,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	OW TEOW HIANG
ADDRESS	:	535 BUKIT BATOK STREET 52 #03-613 SINGAPORE 650535
POSITION	:	DIRECTOR
DATE OF APPT	:	29/02/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0218593H
NAME	:	KHAW BAN LEONG VICTOR
ADDRESS	:	25 HAZEL PARK TERRACE #19-03 HAZEL PARK CONDOMINIUM SINGAPORE 678948
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	28/08/2008 28/08/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1653208H
NAME	:	FU CHEONG LOONG JAMES
ADDRESS	:	31 KIM KEAT LANE #17-06 CALARASI SINGAPORE 328882
POSITION	:	DIRECTOR
DATE OF APPT	:	28/08/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1794263H
NAME	:	Tan Chew Hoe
ADDRESS	:	680B JURONG WEST CENTRAL 1 #17-62 SINGAPORE 642680
POSITION	:	DIRECTOR
DATE OF APPT	:	15/01/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S6833035A
NAME	:	NG HUI TECK
ADDRESS	:	562 UPPER EAST COAST ROAD #04-10 BLEU @ EAST COAST SINGAPORE 466581
POSITION	:	DIRECTOR SECRETARY
DATE OF APPT	:	08/01/2008 15/01/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7433357E

KEY PERSONNEL PROFILE

Name:	KHAW BAN LEONG VICTOR
NRIC Number:	S1653208H
Available Address:	25 HAZEL PARK TERRACE #19-03 HAZEL PARK CONDOMINIUM SINGAPORE 678948

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ALLALLOY (AUSTRALIA) PTE. LTD.	DIRECTOR	03/02/2010	-	NA
2	ALLALLOY AMARA PTE. LTD.	DIRECTOR	28/07/2012	20000	10.00
3	ALLALLOY DYNAWELD INDONESIA PTE. LTD.	DIRECTOR	19/07/2009	-	NA
4	ALLALLOY DYNAWELD PTE. LTD.	DIRECTOR	28/08/2008	-	NA
5	ALLALLOY DYNAWELD PTE. LTD.	MANAGING DIRECTOR	28/08/2008	-	NA
6	ALLALLOY PTE. LTD.	DIRECTOR	28/08/2008	200000	20.00
7	ALLALLOY PTE. LTD.	MANAGING DIRECTOR	28/08/2008	200000	20.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	AMERICAN DYNAMICS PTE LTD	LIVE COMPANY	DIRECTOR	21/10/2005	16/07/2013
2	BONDFLEX PRIVATE LIMITED	LIVE COMPANY	ALTERNATE DIRECTOR	10/07/2005	-
3	BONDFLEX PRIVATE LIMITED	LIVE COMPANY	DIRECTOR	10/07/2005	17/07/2013

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

KEY PERSONNEL PROFILE

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 3 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201005567
	Date of Registration	:	02/07/2010
	Chargee	:	CITIBANK N.A.
	Amount Secured and Currency	:	All Monies
	Address	:	3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190
2)	Charge No.	:	C200902780
	Date of Registration	:	14/05/2009
	Chargee	:	MALAYAN BANKING BERHAD
	Amount Secured and Currency	:	All Monies
	Address	:	2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907
3)	Charge No.	:	C200803028
	Date of Registration	:	01/04/2008
	Chargee	:	MALAYAN BANKING BERHAD
	Amount Secured and Currency	:	All Monies
	Address	:	2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	18/06/2013
Date of Last AR	:	15/07/2013
Date of A/C Laid At Last AGM	:	31/12/2012

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
	DEC 2012	% Change	DEC 2011	DEC 2010	DEC 2009	DEC 2008
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	40,756,336	47.66	27,601,207	26,600,624	24,793,285	10,544,202
Profit/(Loss) Before Tax	6,459,501	41.96	4,550,120	4,258,130	4,366,233	1,784,573
Profit After Tax attributable to Shareholders	5,327,415	39.41	3,821,405	3,489,817	3,647,474	1,500,433
Balance Sheet Key Figures
Total Assets	22,627,513	11.06	20,374,873	16,450,025	14,465,755	7,970,461
Current Assets	22,490,889	10.91	20,278,061	16,333,548	14,374,378	7,945,135
Non Current Assets	136,624	41.12	96,812	116,477	91,377	25,326
Total Liabilities	7,226,869	-19.45	8,971,644	7,832,301	8,617,848	5,470,028
Current Liabilities	7,075,729	-19.78	8,820,504	7,681,161	7,466,709	5,468,888
Non Current Liabilities	151,140	0.00	151,140	151,140	1,151,139	1,140
Shareholders' Funds	15,400,644	35.06	11,403,229	8,617,724	5,847,907	2,500,433
Share Capital	1,000,000	0.00	1,000,000	1,000,000	1,000,000	1,000,000
Total Reserves	14,400,644	38.42	10,403,229	7,617,724	4,847,907	1,500,433

FINANCIAL RATIOS

	Company
	DEC 2012	DEC 2011	DEC 2010	DEC 2009	DEC 2008
Growth %
Year-on-Year Growth	47.66	3.76	7.29	135.14	NA
Profitability
Profit Margin (%)	13.07	13.85	13.12	14.71	14.23
Return on Equity (%)	34.59	33.51	40.50	62.37	60.01
Return on Assets (%)	23.54	18.76	21.21	25.21	18.82
Leverage
Total Debt/Equity (Times)	0.47	0.79	0.91	1.47	2.19
Current Debt/Equity (Times)	0.46	0.77	0.89	1.28	2.19
Long Term Debt To Equity (Times)	0.01	0.01	0.02	0.20	0.00
Total Asset To Total Equity (Times)	1.47	1.79	1.91	2.47	3.19
Asset Management
Total Assets Turnover (Times)	1.80	1.35	1.62	1.71	1.32
Fixed Assets Turnover (Times)	298.31	285.10	228.38	271.33	416.34
Liquidity
Current Ratio (Times)	3.18	2.30	2.13	1.93	1.45

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 40.22% (4 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 13.07 per cent in FY12 (FY11: 13.85 per cent). The company is now able to book in SGD - SIN 0.13 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.14 a year ago.

Liquidity

Current ratio stood at 3.18 times in FY12 (FY11: 2.30 times). This means that the company has SGD - SIN 3.18 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 0.47 times in FY12, compared with 0.79 times in FY11. This means that the company requires additional external financing of SGD - SIN 0.47 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 34.59 per cent for Subject in the current financial period, as compared to 33.51 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 23.54 per cent (FY11: 18.76 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 1.80 times in FY12 (FY11: 1.35 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.60.74
UK Pound	1	Rs.92.05
Euro	1	Rs.80.60

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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