MIRA INFORM REPORT

 

 

Report Date :

08.08.2013

 

IDENTIFICATION DETAILS

 

Name :

EMCE PTE. LTD.

 

 

Formerly Known As :

CAIRON ASIA PACIFIC PTE. LTD. Eff. date : 13/06/2007 Eff. date : 13/06/2007

 

 

Registered Office :

1 North Bridge Road #11-06 High Street Centre Singapore 179094

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

13.06.2007

 

 

Com. Reg. No.:

200710500N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

1. Development of E-Commerce Applications

R &D, Manufacture & Distribution of Smart Cards & Solutions

 

 

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, 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:

EMCE PTE. LTD.

200710500N

 

Date Incorporated:

Registered Office:

Telephone Number:

13/06/2007

1 NORTH BRIDGE ROAD #11-06 HIGH STREET CENTRE SINGAPORE 179094

64892836

Age of Company:

Website:

Industry Type:

6

NA

INFORM

 

 

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

 

37

 

Directors

 

Corporate Structure

Number of Current Directors

1

Holding Company:

SHREENATH SMART TECHNOLOGIES PRIVATE LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

EMCE PTE. LTD.

Registration No

:

200710500N

Date of Registration

:

13/06/2007

Former Name

:

CAIRON ASIA PACIFIC PTE. LTD. Eff. date : 13/06/2007 Eff. date : 13/06/2007

Date of Change of Name

:

22/09/2008

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 NORTH BRIDGE ROAD #11-06 HIGH STREET CENTRE SINGAPORE 179094

Date of Change of Address

:

02/12/2011

Contact No.

:

6489 2836

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. DEVELOPMENT OF E-COMMERCE APPLICATIONS

R &D, MANUFACTURE & DISTRIBUTION OF SMART CARDS & SOLUTIONS

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$50,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 50,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$50,000.00 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

:

CHNG WEE YIN & CO

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 4,475,403.71 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 1,203,919.87 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

106.97% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SHREENATH SMART TECHNOLOGIES PRIVATE LIMITED

SHAREHOLDER ID

:

T10UF0484E

NATIONALITY

:

INDIA

ADDRESS

:

P1/41 VARUN APARTMENTS VASANTBAUH OPP. GULBAI TEKRA PUMPING STATION AHMEDABAD 380 006 GUJARAT INDIA

NO. OF ORD SHARES

:

50,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

WONG HONG JUAN

ADDRESS

:

18 THOMSON WALK HAPPY PARK SINGAPORE 574465

POSITION

:

SECRETARY

DATE OF APPT

:

05/12/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0007782H

 

NAME

:

EUNICE CHAN HEE NOI

ADDRESS

:

230E TAMPINES STREET 24 #07-49 SINGAPORE 528230

POSITION

:

SECRETARY

DATE OF APPT

:

05/12/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1791023Z

 

NAME

:

DALAL BHAVESH KAMLESH

ADDRESS

:

112 EDGEFIELD PLAINS #03-378 SINGAPORE 820112

POSITION

:

DIRECTOR

DATE OF APPT

:

01/12/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7684573E

 

 

 

KEY PERSONNEL PROFILE

 

Name:

DALAL BHAVESH KAMLESH

NRIC Number:

S7684573E

Available Address:

112 EDGEFIELD PLAINS #03-378  SINGAPORE 820112

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

EMCE PTE. LTD.

DIRECTOR

01/12/2011

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

EMCE PTE. LTD.

LIVE COMPANY

SECRETARY

02/12/2011

22/05/2013

2

HARIBOL ASSOCIATES

TERMINATION

MANAGER

09/09/2004

13/03/2006

3

HARIBOL ASSOCIATES

TERMINATION

OWNER

09/09/2004

-

4

HARIBOL ASSOCIATES PTE. LTD.

STRUCK OFF

DIRECTOR

13/03/2006

-

5

HARIBOL ASSOCIATES PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

 

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

:

27/09/2012

Date of Last AR

:

27/09/2012

Date of A/C Laid At Last AGM

:

31/03/2012

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

Turnover

4,475,404

-6.22

4,772,258

142,753

243,872

Profit/(Loss) Before Tax

594,041

-25.12

793,375

85,499

(83,151)

Profit After Tax attributable

 to Shareholders

519,127

-23.46

678,278

85,499

(83,151)

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

1,303,944

39.65

933,734

59,090

5,594

Current Assets

1,303,944

39.65

933,734

59,090

297

Non Current Assets

0

NA

0

0

5,297

 

 

 

 

 

 

Total Liabilities

100,024

-59.33

245,931

8,882

38,745

Current Liabilities

100,024

-59.33

245,931

8,882

38,745

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

1,203,920

75.04

687,803

50,208

(33,151)

Share Capital

44,694

-10.61

50,000

50,000

50,000

Total Reserves

1,159,225

81.75

637,803

208

(83,151)

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2008

Growth %

 

 

 

 

Year-on-Year Growth

-6.22

3,243.02

NA

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

11.60

14.21

59.89

-34.10

Return on Equity (%)

43.12

98.62

170.29

250.83

Return on Assets (%)

39.81

72.64

144.69

-1,486.43

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

0.08

0.36

0.18

-1.17

Current Debt/Equity (Times)

0.08

0.36

0.18

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.08

1.36

1.18

-0.17

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.43

5.11

2.42

43.60

Fixed Assets Turnover (Times)

0.00

0.00

0.00

46.04

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

13.04

3.80

6.65

0.01

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 106.97% (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 11.60 per cent in FY12 (FY11: 14.21 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.12 of profit for every SINGAPORE, DOLLARS of sales in FY12, as compared with SINGAPORE, DOLLARS 0.14 a year ago.

 

 

 

 

 

 

 

 

 

 

 

 

 

Liquidity

Current ratio stood at 13.04 times in FY12 (FY11: 3.80 times). This means that the company has SINGAPORE, DOLLARS 13.04 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

Total debt-to-equity ratio notched 0.08 times in FY12, compared with 0.36 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.08 for every SINGAPORE, DOLLARS 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 43.12 per cent for Subject in the current financial period, as compared to 98.62 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 39.81 per cent (FY11: 72.64 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 3.43 times in FY12 (FY11: 5.11 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.61.39

UK Pound

1

Rs.94.17

Euro

1

Rs.81.70

 

 

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%)

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

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