MIRA INFORM REPORT

Report Date :

03.08.2013

IDENTIFICATION DETAILS

Name :	KLW JOINERY PTE. LTD.
Registered Office :	19 Senoko Loop Klw Industrial Building Singapore 758169
Country :	Singapore
Financials (as on) :	December, 2011
Date of Incorporation :	04.06.2010
Com. Reg. No.:	201011963W
Legal Form :	Limited Private Company
Line of Business :	1. Installation of Doors, Gates, Grilles and Windows 2. Wholesale of Logs, Sawn Timber, Plywood and Related Products
No. of Employees :	No Complaints

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, 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:
KLW JOINERY PTE. LTD.	201011963W

Date Incorporated:	Registered Office:	Telephone Number:
04/06/2010	19 SENOKO LOOP KLW INDUSTRIAL BUILDING SINGAPORE 758169	NA
Age of Company:	Website:	Industry Type:
3	NA	COMMERCE-WHOLESALE

Risk Dashboard
Debts Turn Cash	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
31

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	KLW RESOURCES SDN. BHD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

Company name

KLW JOINERY PTE. LTD.

EXECUTIVE SUMMARY

Company Name	:	KLW JOINERY PTE. LTD.
Registration No	:	201011963W
Date of Registration	:	04/06/2010
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	19 SENOKO LOOP KLW INDUSTRIAL BUILDING SINGAPORE 758169
Date of Change of Address	:	04/06/2010
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. INSTALLATION OF DOORS, GATES, GRILLES AND WINDOWS 2. WHOLESALE OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS
Issued Ordinary Capital*	:	$10,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 10,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,000.00 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	:	CROWE HORWATH FIRST TRUST LLP
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 2,117,857.00 (FY2011)
Net Worth	:	SINGAPORE, DOLLARS (667,803.00) (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA

EXECUTIVE SUMMARY

S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	KLW RESOURCES SDN. BHD.
SHAREHOLDER ID	:	T10UF1559G
NATIONALITY	:	NA
ADDRESS	:	535B JALAN MERDEKA MALAKA RAYA 75000 MELAKA MALAYSIA
NO. OF ORD SHARES	:	10,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LEE CHOON TAI
ADDRESS	:	79A TOA PAYOH CENTRAL #40-11 SINGAPORE 311079
POSITION	:	DIRECTOR
DATE OF APPT	:	04/06/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0395279G
NAME	:	HU LYE CHYE
ADDRESS	:	10 ANSON ROAD #10-11 INTERNATIONAL PLAZA SINGAPORE 079903
POSITION	:	SECRETARY
DATE OF APPT	:	04/06/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1529823E
NAME	:	LEE BOON TECK
ADDRESS	:	68A CARISBROOKE GROVE SINGAPORE 558845
POSITION	:	DIRECTOR
DATE OF APPT	:	04/06/2010
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1785809B

KEY PERSONNEL PROFILE

Name:	LEE CHOON TAI
NRIC Number:	S0395279G
Available Address:	79A TOA PAYOH CENTRAL #40-11 SINGAPORE 311079

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	AMBERTREE PTE. LTD.	DIRECTOR	12/01/1989	-	NA
2	KLW JOINERY PTE. LTD.	DIRECTOR	04/06/2010	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	AMBERTREE PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	23/07/2013
2	BARANG BARANG ASIA-PACIFIC PTE. LTD.	STRUCK OFF	DIRECTOR	30/08/2004	14/04/2010
3	BARANG BARANG PTE LTD	DISSOLVED - CREDITORS' VOLUNTARY WINDING UP	DIRECTOR	31/05/2004	-
4	HENG HUAT WOODWORKING FACTORY COMPANY	TERMINATION	MANAGER	01/01/1971	31/03/1984
5	HENG HUAT WOODWORKING FACTORY COMPANY	TERMINATION	OWNER	01/01/1971	31/03/1984
6	KLW HOLDINGS LIMITED	LIVE COMPANY	DIRECTOR	01/04/1998	25/06/2013
7	KLW HOLDINGS LIMITED	LIVE COMPANY	SHAREHOLDER	-	25/06/2013
8	KWONG LEE TIMBER INDUSTRY AND TRADING PTE LTD	LIVE COMPANY	DIRECTOR	08/02/1979	10/03/2011
9	KWONG LEE TIMBER INDUSTRY AND TRADING PTE LTD	LIVE COMPANY	SHAREHOLDER	-	10/03/2011
10	WEE HUANG WOODWORKING COMPANY	TERMINATION	MANAGER	04/02/1984	07/02/2001
11	WEE HUANG WOODWORKING COMPANY	TERMINATION	OWNER	04/02/1984	07/02/2001

KEY PERSONNEL PROFILE

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 are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	29/06/2012
Date of Last AR	:	26/07/2012
Date of A/C Laid At Last AGM	:	31/12/2011

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 Figures	Company
	DEC 2011	% Change	DEC 2010
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	2,117,857	1,488.25	133,345
Profit/(Loss) Before Tax	(615,555)	NA	(62,248)
Profit After Tax attributable to Shareholders	(615,555)	NA	(62,248)
Balance Sheet Key Figures
Total Assets	6,438,720	4,543.80	138,652
Current Assets	6,233,006	4,436.53	137,396
Non Current Assets	205,714	16,278.50	1,256
Total Liabilities	7,106,523	3,622.64	190,900
Current Liabilities	6,960,684	3,546.25	190,900
Non Current Liabilities	145,839	NA	0
Shareholders' Funds	(667,803)	NA	(52,248)
Share Capital	10,000	0.00	10,000
Total Reserves	(677,803)	NA	(62,248)

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010
Growth %
Year-on-Year Growth	1,488.25	NA
Profitability
Profit Margin (%)	-29.06	-46.68
Return on Equity (%)	92.18	119.14
Return on Assets (%)	-9.56	-44.90
Leverage
Total Debt/Equity (Times)	-10.64	-3.65
Current Debt/Equity (Times)	0.00	0.00
Long Term Debt To Equity (Times)	0.00	0.00
Total Asset To Total Equity (Times)	-9.64	-2.65
Asset Management
Total Assets Turnover (Times)	0.33	0.96
Fixed Assets Turnover (Times)	10.30	106.17
Liquidity
Current Ratio (Times)	0.90	0.72

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 0.90 times in FY11 (FY10: 0.72 times). This means that the company has SINGAPORE, DOLLARS 0.90 of current assets for every SINGAPORE, DOLLARS 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

We are unable to comment on Subject's leverage.

Efficiency Ratio

Return on equity was 92.18 per cent for Subject in the current financial period, as compared to 119.14 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.

We are unable to comment on Subject's return on assets.

Total assets turnover ratio logged at 0.33 times in FY11 (FY10: 0.96 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.

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.80
UK Pound	1	Rs.91.95
Euro	1	Rs.80.36

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.