MIRA INFORM REPORT

 

 

Report Date :

08.02.2013

 

IDENTIFICATION DETAILS

 

Name :

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD                  

 

 

Registered Office :

151 Chin Swee Road #14-13 Manhattan House Singapore 169876

 

 

Country :

Singapore

 

 

Financials (as on) :

March 2012

 

 

Date of Incorporation :

15.02.2008

 

 

Com. Reg. No.:

200803152R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Personal Service Activities Nec Trading

 

 

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 :

Poor

Payment Behaviour :

Slow & Delayed

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 30th, 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 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% 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:

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

200803152R

 

Date Incorporated:

Registered Office:

Telephone Number:

15/02/2008

151 CHIN SWEE ROAD #14-13 MANHATTAN HOUSE SINGAPORE 169876

63364212

Age of Company:

Website:

Industry Type:

5

NA

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

CRAFTSMAN AUTOMATION PRIVATE LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

Registration No

:

200803152R

Date of Registration

:

15/02/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

151 CHIN SWEE ROAD #14-13 MANHATTAN HOUSE SINGAPORE 169876

Date of Change of Address

:

01/03/2010

Contact No.

:

63364212

Fax No.

:

NA

Website

:

NA

Registered Activities

:

OTHER PERSONAL SERVICE ACTIVITIES NEC

TRADING

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

B H TAN & ASSOCIATES

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 4,060,301.59 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS (419,195.38) (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)

:

51% (3 years)

 

SHAREHOLDER DETAILS

 

NAME

:

CRAFTSMAN AUTOMATION PRIVATE LIMITED

SHAREHOLDER ID

:

T08UF1968F

NATIONALITY

:

INDIA

ADDRESS

:

15, LML COLONY AMMANKULAM ROAD COIMBATORE - 641 037, INDIA

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHONG SWEE SAN

ADDRESS

:

335 TAMPINES STREET 32 #03-504 SINGAPORE 520335

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0184145I

 

NAME

:

TONG HOW HENG DAVID

ADDRESS

:

9 RHU CROSS #12-07 COSTA RHU SINGAPORE 437436

POSITION

:

SECRETARY

DATE OF APPT

:

15/02/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1145655C

 

NAME

:

SRINIVASAN RAVI

ADDRESS

:

153 TEA ESTATE COMPOUND RACE COURSE COIMBATORE 641 018 TAMIL NADU, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/05/2008

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1774681

 

 

KEY PERSONNEL PROFILE

 

Name:

SRINIVASAN RAVI

NRIC Number:

Z1774681

Available Address:

153 TEA ESTATE COMPOUND RACE COURSE COIMBATORE 641 018 TAMIL NADU, INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CRAFTSMAN AUTOMATION SINGAPORE PTE. LTD.

DIRECTOR

01/05/2008

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

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

:

02/07/2012

Date of Last AR

:

18/07/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

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).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

4,060,302

-28.11

5,647,945

970,405

1,179,326

Profit/(Loss) Before Tax

(93,469)

NA

(113,554)

(205,784)

(99,813)

Profit After Tax attributable

 to Shareholders

(93,469)

NA

(113,554)

(205,784)

(99,813)

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

1,372,566

-58.90

3,339,976

343,156

798,895

Current Assets

1,371,660

-58.93

3,339,515

336,402

768,827

Non Current Assets

906

96.25

462

6,755

30,068

 

 

 

 

 

 

Total Liabilities

1,791,762

-51.04

3,659,557

546,542

796,460

Current Liabilities

1,300,657

-59.92

3,244,785

261,631

701,060

Non Current Liabilities

491,104

18.40

414,772

284,911

95,400

 

 

 

 

 

 

Shareholders' Funds

(419,195)

NA

(319,580)

(203,385)

2,435

Share Capital

121,501

1.92

119,209

117,681

119,438

Total Reserves

(540,697)

NA

(438,789)

(321,066)

(117,003)

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

 

Year-on-Year Growth

-28.11

482.02

-17.72

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

-2.30

-2.01

-21.21

-8.46

Return on Equity (%)

22.30

35.53

101.18

-4,099.10

Return on Assets (%)

-6.81

-3.40

-59.97

-12.49

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

-4.27

-11.45

-2.69

327.09

Current Debt/Equity (Times)

0.00

0.00

0.00

287.91

Long Term Debt To Equity (Times)

0.00

0.00

0.00

39.18

Total Asset To Total Equity (Times)

-3.27

-10.45

-1.69

328.09

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

2.96

1.69

2.83

1.48

Fixed Assets Turnover (Times)

4,480.48

12,231.34

143.66

39.22

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.05

1.03

1.29

1.10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 51% (3 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

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.05 times in FY12 (FY11: 1.03 times). This means that the company has SINGAPORE, DOLLARS 1.05 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.

 

FINANCIAL COMMENTARY

 

Leverage

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

Return on equity was 22.30 per cent for Subject in the current financial period, as compared to 35.53 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 2.96 times in FY12 (FY11: 1.69 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.53.14

UK Pound

1

Rs.83.26

Euro

1

Rs.71.93

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.