MIRA INFORM REPORT

 

 

Report Date :

15.01.2013

 

IDENTIFICATION DETAILS

 

Name :

SPACE FURNITURE PTE LTD

 

 

Registered Office :

77 Bencoolen Street Singapore 189653

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

07.02.2001

 

 

Com. Reg. No.:

200100785Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Furniture (Including Mattresses, Cushions)

 

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

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:

SPACE FURNITURE PTE LTD

200100785Z

 

Date Incorporated:

Registered Office:

Telephone Number:

07/02/2001

77 BENCOOLEN STREET SINGAPORE 189653

6415 0000

Age of Company:

Website:

Industry Type:

12

www.spacefurniture.com.sg

COMMERCE-RETAIL

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

9

Payment pattern as per previous month

No. of Charges(s):
3

Industry DTC

 

32

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

HARVEY NORMAN SINGAPORE PTE LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

SPACE FURNITURE PTE LTD

Registration No

:

200100785Z

Date of Registration

:

07/02/2001

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

77 BENCOOLEN STREET SINGAPORE 189653

Date of Change of Address

:

15/08/2011

Contact No.

:

6415 0000

Fax No.

:

6415 0100

Website

:

www.spacefurniture.com.sg

Registered Activities

:

1. WHOLESALE OF FURNITURE (INCLUDING MATTRESSES, CUSHIONS)

2. RETAIL SALE OF FURNITURE (INCLUDING MATTRESSES, CUSHIONS)

Issued Ordinary Capital*

:

$3,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,000,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

DERNI PTY LIMITED

HARVEY NORMAN HOLDINGS LIMITED

YOOGALU PTY LIMITED

Turnover

:

SGD - SIN 24,494,568.00 (FY2011)

Net Worth

:

SGD - SIN 5,412,739.00 (FY2011)

No. of Bank Charges

:

3

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

11.76% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HARVEY NORMAN SINGAPORE PTE LTD

SHAREHOLDER ID

:

199903514N

NATIONALITY

:

SINGAPORE

ADDRESS

:

315 OUTRAM ROAD #01-01/02 TAN BOON LIAT BUILDING SINGAPORE 169074

NO. OF ORD SHARES

:

3,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KAY LESLEY HARVEY

ADDRESS

:

A1 RICHMOND ROAD, FLEMINGTON NS, W2140 AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

14/02/2001

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

E4002662

 

NAME

:

CHRIS MENTIS

ADDRESS

:

B1 RICHMOND ROAD HOMEBUSH WEST NSW 2140

POSITION

:

DIRECTOR

DATE OF APPT

:

31/12/2008

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

N5642729

 

NAME

:

CHEW LAY BENG

ADDRESS

:

4B BOON TIONG ROAD #13-27 BOON TIONG VILLE SINGAPORE 165004

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1667339J

 

NAME

:

AUGUSTUS ANGELO ANTHONY

ADDRESS

:

806 THOMSON ROAD #02-14 THOMSON 800 SINGAPORE 298189

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/10/2005

01/10/2005

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2753320E

 

 

KEY PERSONNEL PROFILE

 

Name:

AUGUSTUS ANGELO ANTHONY

NRIC Number:

S2753320E

Available Address:

806 THOMSON ROAD #02-14 THOMSON 800  SINGAPORE 298189

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BENCOOLEN PROPERTIES PTE. LTD.

DIRECTOR

26/11/2007

-

NA

2

EASTERN AUDIO (PRIVATE) LIMITED

DIRECTOR

01/10/2005

-

NA

3

HARVEY NORMAN SINGAPORE PTE LTD

DIRECTOR

01/10/2005

-

NA

4

HARVEY NORMAN SINGAPORE PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

5

PERTAMA HOLDINGS LIMITED

DIRECTOR

01/10/2005

-

NA

6

PERTAMA HOLDINGS LIMITED

MANAGING DIRECTOR

01/10/2005

-

NA

7

PERTAMA MERCHANDISING PTE LTD

DIRECTOR

01/10/2005

-

NA

8

PERTAMA MERCHANDISING PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

9

SPACE FURNITURE PTE LTD

DIRECTOR

01/10/2005

-

NA

10

SPACE FURNITURE PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AUDIO CENTRE PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

2

AUDIOLAB PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

3

MARINA MERCHANDISING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/10/2005

-

4

MARINA MERCHANDISING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

01/10/2005

-

5

PERTAMA AUDIO PRIVATE LIMITED

STRUCK OFF

DIRECTOR

01/10/2005

-

6

PERTAMA INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

7

PERTAMA MARKETING PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

8

PERTAMA PROPERTIES PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

9

SUPREME ELECTRONICS PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

03/11/2008

-

10

THE SOUND ADVICE COMPANY PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

11

UNIVERSAL AUDIO PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

 

 

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

 

1)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

DERNI PTY LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

2)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

HARVEY NORMAN HOLDINGS LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

3)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

YOOGALU PTY LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

LITIGATION

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

934

 

Transfer

:

-

 

Date of Filing

:

11/09/2003

 

Amount

:

303,225.13

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SHANGHAI CHONG KEE FURNITURE & CONSTRUCTION PTE LTD

 

 

COMPLIANCE RECORDS

Date of Last AGM

:

30/12/2011

Date of Last AR

:

31/01/2012

Date of A/C Laid At Last AGM

:

30/06/2011
 

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 HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2011

% Change

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

24,494,568

-5.12

25,815,570

19,655,304

20,468,158

15,701,775

Profit/(Loss) Before Tax

1,832,332

18.59

1,545,055

419,036

1,469,834

1,154,891

Profit After Tax attributable

 to Shareholders

1,620,416

35.42

1,196,601

419,036

1,320,792

1,154,891

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

18,292,432

3.88

17,609,085

14,338,712

13,661,363

10,181,801

Current Assets

17,767,189

4.91

16,936,299

13,388,134

12,722,760

9,196,393

Non Current Assets

525,243

-21.93

672,786

950,578

938,603

985,408

 

 

 

 

 

 

 

Total Liabilities

12,879,693

-6.78

13,816,762

11,742,990

11,484,677

9,325,907

Current Liabilities

12,876,170

-6.59

13,784,792

11,711,020

11,452,707

9,325,907

Non Current Liabilities

3,523

-88.98

31,970

31,970

31,970

0

 

 

 

 

 

 

 

Shareholders' Funds

5,412,739

42.73

3,792,323

2,595,722

2,176,686

855,894

Share Capital

3,000,000

0.00

3,000,000

3,000,000

3,000,000

3,000,000

Total Reserves

2,412,739

204.51

792,323

(404,278)

(823,314)

(2,144,106)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

JUN 2011

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-5.12

31.34

-3.97

30.36

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

6.62

4.64

2.13

6.45

7.36

Return on Equity (%)

29.94

31.55

16.14

60.68

134.93

Return on Assets (%)

8.86

6.80

2.92

9.67

11.34

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.38

3.64

4.52

5.28

10.90

Current Debt/Equity (Times)

2.38

3.63

4.51

5.26

10.90

Long Term Debt To Equity (Times)

0.00

0.01

0.01

0.01

0.00

Total Asset To Total Equity (Times)

3.38

4.64

5.52

6.28

11.90

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.34

1.47

1.37

1.50

1.54

Fixed Assets Turnover (Times)

46.63

38.37

20.68

21.81

15.93

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.38

1.23

1.14

1.11

0.99

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 11.76% (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 6.62 per cent in FY11 (FY10: 4.64 per cent). The company is now able to book in SGD - SIN 0.07 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

 

Liquidity

Current ratio stood at 1.38 times in FY11 (FY10: 1.23 times). This means that the company has SGD - SIN 1.38 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 2.38 times in FY11, compared with 3.64 times in FY10. This means that the company requires additional external financing of SGD - SIN 2.38 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 29.94 per cent for Subject in the current financial period, as compared to 31.55 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 8.86 per cent (FY10: 6.80 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 1.34 times in FY11 (FY10: 1.47 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.54.63

UK Pound

1

Rs.88.17

Euro

1

Rs.73.13

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

MIRA INFORM REPORT

 

 

Report Date :

15.01.2013

 

 

 

Tel. No.:

65 64150000

 

IDENTIFICATION DETAILS

 

Name :

SPACE FURNITURE PTE LTD

 

 

Registered Office :

77 Bencoolen Street Singapore 189653

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

07.02.2001

 

 

Com. Reg. No.:

200100785Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Furniture (Including Mattresses, Cushions)

 

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

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:

SPACE FURNITURE PTE LTD

200100785Z

 

Date Incorporated:

Registered Office:

Telephone Number:

07/02/2001

77 BENCOOLEN STREET SINGAPORE 189653

6415 0000

Age of Company:

Website:

Industry Type:

12

www.spacefurniture.com.sg

COMMERCE-RETAIL

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

9

Payment pattern as per previous month

No. of Charges(s):
3

Industry DTC

 

32

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

HARVEY NORMAN SINGAPORE PTE LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

SPACE FURNITURE PTE LTD

Registration No

:

200100785Z

Date of Registration

:

07/02/2001

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

77 BENCOOLEN STREET SINGAPORE 189653

Date of Change of Address

:

15/08/2011

Contact No.

:

6415 0000

Fax No.

:

6415 0100

Website

:

www.spacefurniture.com.sg

Registered Activities

:

1. WHOLESALE OF FURNITURE (INCLUDING MATTRESSES, CUSHIONS)

2. RETAIL SALE OF FURNITURE (INCLUDING MATTRESSES, CUSHIONS)

Issued Ordinary Capital*

:

$3,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,000,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

DERNI PTY LIMITED

HARVEY NORMAN HOLDINGS LIMITED

YOOGALU PTY LIMITED

Turnover

:

SGD - SIN 24,494,568.00 (FY2011)

Net Worth

:

SGD - SIN 5,412,739.00 (FY2011)

No. of Bank Charges

:

3

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

11.76% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HARVEY NORMAN SINGAPORE PTE LTD

SHAREHOLDER ID

:

199903514N

NATIONALITY

:

SINGAPORE

ADDRESS

:

315 OUTRAM ROAD #01-01/02 TAN BOON LIAT BUILDING SINGAPORE 169074

NO. OF ORD SHARES

:

3,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KAY LESLEY HARVEY

ADDRESS

:

A1 RICHMOND ROAD, FLEMINGTON NS, W2140 AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

14/02/2001

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

E4002662

 

NAME

:

CHRIS MENTIS

ADDRESS

:

B1 RICHMOND ROAD HOMEBUSH WEST NSW 2140

POSITION

:

DIRECTOR

DATE OF APPT

:

31/12/2008

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

N5642729

 

NAME

:

CHEW LAY BENG

ADDRESS

:

4B BOON TIONG ROAD #13-27 BOON TIONG VILLE SINGAPORE 165004

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1667339J

 

NAME

:

AUGUSTUS ANGELO ANTHONY

ADDRESS

:

806 THOMSON ROAD #02-14 THOMSON 800 SINGAPORE 298189

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/10/2005

01/10/2005

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2753320E

 

 

KEY PERSONNEL PROFILE

 

Name:

AUGUSTUS ANGELO ANTHONY

NRIC Number:

S2753320E

Available Address:

806 THOMSON ROAD #02-14 THOMSON 800  SINGAPORE 298189

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BENCOOLEN PROPERTIES PTE. LTD.

DIRECTOR

26/11/2007

-

NA

2

EASTERN AUDIO (PRIVATE) LIMITED

DIRECTOR

01/10/2005

-

NA

3

HARVEY NORMAN SINGAPORE PTE LTD

DIRECTOR

01/10/2005

-

NA

4

HARVEY NORMAN SINGAPORE PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

5

PERTAMA HOLDINGS LIMITED

DIRECTOR

01/10/2005

-

NA

6

PERTAMA HOLDINGS LIMITED

MANAGING DIRECTOR

01/10/2005

-

NA

7

PERTAMA MERCHANDISING PTE LTD

DIRECTOR

01/10/2005

-

NA

8

PERTAMA MERCHANDISING PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

9

SPACE FURNITURE PTE LTD

DIRECTOR

01/10/2005

-

NA

10

SPACE FURNITURE PTE LTD

MANAGING DIRECTOR

01/10/2005

-

NA

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AUDIO CENTRE PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

2

AUDIOLAB PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

3

MARINA MERCHANDISING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/10/2005

-

4

MARINA MERCHANDISING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

01/10/2005

-

5

PERTAMA AUDIO PRIVATE LIMITED

STRUCK OFF

DIRECTOR

01/10/2005

-

6

PERTAMA INTERNATIONAL PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

7

PERTAMA MARKETING PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

8

PERTAMA PROPERTIES PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

9

SUPREME ELECTRONICS PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

03/11/2008

-

10

THE SOUND ADVICE COMPANY PTE LTD

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

11

UNIVERSAL AUDIO PRIVATE LIMITED

STRUCK OFF

DIRECTOR

13/03/2000

31/01/2003

 

 

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

 

1)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

DERNI PTY LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

2)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

HARVEY NORMAN HOLDINGS LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

3)

Charge No.

:

C200504245

 

Date of Registration

:

20/07/2005

 

Chargee

:

YOOGALU PTY LIMITED

 

Amount Secured  and Currency

:

All Monies (shared amongst other chargees)

 

Address

:

---

 

LITIGATION

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

934

 

Transfer

:

-

 

Date of Filing

:

11/09/2003

 

Amount

:

303,225.13

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SHANGHAI CHONG KEE FURNITURE & CONSTRUCTION PTE LTD

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/12/2011

Date of Last AR

:

31/01/2012

Date of A/C Laid At Last AGM

:

30/06/2011
 

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 HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2011

% Change

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

24,494,568

-5.12

25,815,570

19,655,304

20,468,158

15,701,775

Profit/(Loss) Before Tax

1,832,332

18.59

1,545,055

419,036

1,469,834

1,154,891

Profit After Tax attributable

 to Shareholders

1,620,416

35.42

1,196,601

419,036

1,320,792

1,154,891

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

18,292,432

3.88

17,609,085

14,338,712

13,661,363

10,181,801

Current Assets

17,767,189

4.91

16,936,299

13,388,134

12,722,760

9,196,393

Non Current Assets

525,243

-21.93

672,786

950,578

938,603

985,408

 

 

 

 

 

 

 

Total Liabilities

12,879,693

-6.78

13,816,762

11,742,990

11,484,677

9,325,907

Current Liabilities

12,876,170

-6.59

13,784,792

11,711,020

11,452,707

9,325,907

Non Current Liabilities

3,523

-88.98

31,970

31,970

31,970

0

 

 

 

 

 

 

 

Shareholders' Funds

5,412,739

42.73

3,792,323

2,595,722

2,176,686

855,894

Share Capital

3,000,000

0.00

3,000,000

3,000,000

3,000,000

3,000,000

Total Reserves

2,412,739

204.51

792,323

(404,278)

(823,314)

(2,144,106)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

JUN 2011

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-5.12

31.34

-3.97

30.36

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

6.62

4.64

2.13

6.45

7.36

Return on Equity (%)

29.94

31.55

16.14

60.68

134.93

Return on Assets (%)

8.86

6.80

2.92

9.67

11.34

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.38

3.64

4.52

5.28

10.90

Current Debt/Equity (Times)

2.38

3.63

4.51

5.26

10.90

Long Term Debt To Equity (Times)

0.00

0.01

0.01

0.01

0.00

Total Asset To Total Equity (Times)

3.38

4.64

5.52

6.28

11.90

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.34

1.47

1.37

1.50

1.54

Fixed Assets Turnover (Times)

46.63

38.37

20.68

21.81

15.93

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.38

1.23

1.14

1.11

0.99

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 11.76% (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 6.62 per cent in FY11 (FY10: 4.64 per cent). The company is now able to book in SGD - SIN 0.07 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

 

Liquidity

Current ratio stood at 1.38 times in FY11 (FY10: 1.23 times). This means that the company has SGD - SIN 1.38 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 2.38 times in FY11, compared with 3.64 times in FY10. This means that the company requires additional external financing of SGD - SIN 2.38 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 29.94 per cent for Subject in the current financial period, as compared to 31.55 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 8.86 per cent (FY10: 6.80 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 1.34 times in FY11 (FY10: 1.47 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.54.63

UK Pound

1

Rs.88.17

Euro

1

Rs.73.13

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.