MIRA INFORM REPORT

 

 

Report Date :

29.01.2013

 

IDENTIFICATION DETAILS

 

Name :

GHEE HUAT COMPANY PRIVATE LIMITED

 

 

Registered Office :

133 New Bridge Road #09-07 Chinatown Point Singapore 059413

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

13.12.1973

 

 

Com. Reg. No.:

197302348W

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Animal Feed

 

 

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 :

Good

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:

GHEE HUAT COMPANY PRIVATE LIMITED

197302348W

 

Date Incorporated:

Registered Office:

Telephone Number:

13/12/1973

133 NEW BRIDGE ROAD #09-07 CHINATOWN POINT SINGAPORE 059413

6535 5685

Age of Company:

Website:

Industry Type:

40

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

4

Holding Company:

NEO KAR CHAN HOLDINGS PTE LTD

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

GHEE HUAT COMPANY PRIVATE LIMITED

Registration No

:

197302348W

Date of Registration

:

13/12/1973

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

133 NEW BRIDGE ROAD #09-07 CHINATOWN POINT SINGAPORE 059413

Date of Change of Address

:

22/09/2008

Contact No.

:

6535 5685

Fax No.

:

6535 8738

Website

:

NA

Registered Activities

:

WHOLESALE OF ANIMAL FEED

Issued Ordinary Capital*

:

$1,215,004.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,215,004

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,215,004.00 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

:

LEE BOON SONG & CO

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 75,169,566.00 (FY2011)

Net Worth

:

SGD - SIN 13,228,051.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

83 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011)

471 POSITION IN SME 1000 Companies Ranked by Net Profit (2010/2011)

110 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

978 POSITION IN SME 1000 Companies Ranked by Net Profit (2009/2010)

1585 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

2.48% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

NEO KAR CHAN HOLDINGS PTE LTD

SHAREHOLDER ID

:

199302624D

NATIONALITY

:

SINGAPORE

ADDRESS

:

133 NEW BRIDGE ROAD #09-07 CHINATOWN POINT SINGAPORE 059413

NO. OF ORD SHARES

:

1,215,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

NEO KAR CHAN

SHAREHOLDER ID

:

S0485868I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

3 BEGONIA TERRACE HOCK SWEE HILL SINGAPORE 809759

NO. OF ORD SHARES

:

4

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TAY JOHNNY

ADDRESS

:

683 TESSENSOHN ROAD #03-125 SINGAPORE 210683

POSITION

:

DIRECTOR

DATE OF APPT

:

08/03/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0093037G

 

NAME

:

NEO CHIN SENG

ADDRESS

:

21 TAN KIM CHENG ROAD #10-23 LUTHERAN TOWER SINGAPORE 266621

POSITION

:

DIRECTOR

DATE OF APPT

:

08/03/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0166557Z

 

NAME

:

TAY QUEE MENG

ADDRESS

:

23 HOUGANG AVENUE 3 #04-287 SINGAPORE 530023

POSITION

:

SECRETARY

DATE OF APPT

:

30/06/1988

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0299917Z

 

NAME

:

NEO KAR CHAN

ADDRESS

:

3 BEGONIA TERRACE HOCK SWEE HILL SINGAPORE 809759

POSITION

:

DIRECTOR

MANAGER

DATE OF APPT

:

13/12/1973

13/12/1973

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0485868I

 

NAME

:

NEO CHING LAM

ADDRESS

:

19 DEDAP PLACE SINGAPORE 809518

POSITION

:

DIRECTOR

DATE OF APPT

:

04/03/1992

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1392247J

 

 

KEY PERSONNEL PROFILE

 

Name:

NEO KAR CHAN

NRIC Number:

S0485868I

Available Address:

3 BEGONIA TERRACE HOCK SWEE HILL  SINGAPORE 809759

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ANN TENG (SINGAPORE) INVESTMENTS PRIVATE LIMITED

DIRECTOR

28/07/1996

12000

8.33

2

GHEE HUAT COMPANY PRIVATE LIMITED

DIRECTOR

13/12/1973

-

NA

3

GHEE HUAT COMPANY PRIVATE LIMITED

MANAGER

13/12/1973

-

NA

4

GHEE HUAT COMPANY PRIVATE LIMITED

DIRECTOR

-

4

0.00

5

GHEE HUAT COMPANY PRIVATE LIMITED

MANAGER

-

4

0.00

6

NEO KAR CHAN HOLDINGS PTE LTD

MANAGING DIRECTOR

14/06/1993

-

NA

7

NEO KAR CHAN HOLDINGS PTE LTD

DIRECTOR

29/04/1993

-

NA

8

NEO KAR CHAN HOLDINGS PTE LTD

DIRECTOR

-

200000

4.00

9

NEO KAR CHAN HOLDINGS PTE LTD

MANAGING DIRECTOR

-

200000

4.00

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

DYNACITY MANAGEMENT PTE LTD

STRUCK OFF

DIRECTOR

30/12/1992

08/07/2010

2

EVA PRIVATE LIMITED

LIVE COMPANY

DIRECTOR

22/09/1978

28/12/2011

3

GEE SENG HUNG PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

14/08/1980

21/03/1997

4

GEE SENG HUNG PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

21/03/1997

5

GHEE HWA HANG PRIVATE LIMITED.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

13/07/1974

-

6

GHEE HWA HANG PRIVATE LIMITED.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

18/03/2005

7

LINES (SINGAPORE) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

14/10/1981

-

 

 

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

:

30/06/2012

Date of Last AR

:

30/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

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 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

75,169,566

17.42

64,019,127

56,190,390

86,598,004

68,151,609

Profit/(Loss) Before Tax

1,305,927

-43.90

2,327,917

915,856

2,521,539

1,293,064

Profit After Tax attributable

 to Shareholders

1,132,025

-43.79

2,013,925

789,891

2,104,138

1,140,329

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

16,099,332

1.97

15,789,010

14,204,308

11,733,624

17,236,768

Current Assets

11,521,856

6.74

10,794,554

9,862,706

9,313,589

12,128,570

Non Current Assets

4,577,476

-8.35

4,994,456

4,341,602

2,420,035

5,108,198

 

 

 

 

 

 

 

Total Liabilities

2,871,281

80.19

1,593,504

2,556,690

2,660,006

7,440,921

Current Liabilities

2,870,621

80.27

1,592,404

2,555,590

2,658,906

7,440,421

Non Current Liabilities

660

-40.00

1,100

1,100

1,100

500

 

 

 

 

 

 

 

Shareholders' Funds

13,228,051

-6.82

14,195,506

11,647,618

9,073,618

9,795,847

Share Capital

1,215,004

0.00

1,215,004

1,215,004

1,215,004

1,215,004

Total Reserves

12,013,047

-7.45

12,980,502

10,432,614

7,858,614

8,580,843

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

17.42

13.93

-35.11

27.07

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.51

3.15

1.41

2.43

1.67

Return on Equity (%)

8.56

14.19

6.78

23.19

11.64

Return on Assets (%)

7.03

12.76

5.56

17.93

6.62

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.22

0.11

0.22

0.29

0.76

Current Debt/Equity (Times)

0.22

0.11

0.22

0.29

0.76

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.22

1.11

1.22

1.29

1.76

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.67

4.05

3.96

7.38

3.95

Fixed Assets Turnover (Times)

16.42

12.82

12.94

35.78

13.34

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

4.01

6.78

3.86

3.50

1.63

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 2.48% (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 1.51 per cent in FY11 (FY10: 3.15 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.03 a year ago.

 

Liquidity

 

Current ratio stood at 4.01 times in FY11 (FY10: 6.78 times). This means that the company has SGD - SIN 4.01 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 0.22 times in FY11, as compared with 0.11 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.22 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 8.56 per cent for Subject in the current financial period, as compared to 14.19 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 7.03 per cent (FY10: 12.76 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 4.67 times in FY11 (FY10: 4.05 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.53.89

UK Pound

1

Rs.84.92

Euro

1

Rs.72.51

 

 

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.