MIRA INFORM REPORT

Report Date :

02.07.2013

IDENTIFICATION DETAILS

Name :	NEST CONNECTIVITY SOLUTIONS PTE. LTD.
Registered Office :	67 UBI Crescent #05-09 Techniques Centre Singapore 408560
Country :	SINGAPORE
Financials (as on) :	March 2011
Date of Incorporation :	19.03.2009
Com. Reg. No.:	200904934H
Legal Form :	Limited Private Company
Line of Business :	1. General Wholesale Trade (Including General Importers And Exporters) 2. Computer Systems Integration Activities
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 :	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:
NEST CONNECTIVITY SOLUTIONS PTE. LTD.	200904934H

Date Incorporated:	Registered Office:	Telephone Number:
19/03/2009	67 UBI CRESCENT #05-09 TECHNIQUES CENTRE SINGAPORE 408560	NA
Age of Company:	Website:	Industry Type:
4	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): 1
Industry DTC
23

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	QLIFE CONSUMER PRODUCTS PRIVATE LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	1

EXECUTIVE SUMMARY

Company Name	:	NEST CONNECTIVITY SOLUTIONS PTE. LTD.
Registration No	:	200904934H
Date of Registration	:	19/03/2009
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	67 UBI CRESCENT #05-09 TECHNIQUES CENTRE SINGAPORE 408560
Date of Change of Address	:	18/11/2010
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. COMPUTER SYSTEMS INTEGRATION ACTIVITIES
Issued Ordinary Capital*	:	$100,001.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,001
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$100,001.00 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	:	1
No. of Local Associates	:	NA
Auditor	:	NATARAJAN & SWAMINATHAN
Bankers / Financiers	:	STATE BANK OF INDIA
Turnover	:	SGD - SIN 3,853,816.00 (FY2011)
Net Worth	:	SGD - SIN 148,910.00 (FY2011)
No. of Bank Charges	:	1
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	:	QLIFE CONSUMER PRODUCTS PRIVATE LIMITED
SHAREHOLDER ID	:	T12UF1486J
NATIONALITY	:	INDIA
ADDRESS	:	XIX/346 STONE HOUSE MARKET ROAD ALUVA ERNAKULAM 683101 KERALA
NO. OF ORD SHARES	:	100,001
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	MANUEL SUNDER
ADDRESS	:	43 BENDEMEER ROAD #04-1004 SINGAPORE 330043
POSITION	:	DIRECTOR SECRETARY
DATE OF APPT	:	19/03/2009 19/03/2009
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2712774F
NAME	:	MANOJ RADHAKRISHNAN
ADDRESS	:	PURVA GRCES, PLOT NO 658 HOPE BLOCK 1ST FLOOR 107 AMRUTHAHALLI YELAHANKA BANGALORE 560092
POSITION	:	DIRECTOR
DATE OF APPT	:	19/03/2009
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z1730580

KEY PERSONNEL PROFILE

Name:	MANUEL SUNDER
NRIC Number:	S2712774F
Available Address:	43 BENDEMEER ROAD #04-1004 SINGAPORE 330043

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	FORTUNE TECHNOLOGIES	MANAGER	10/11/2007	-	NA
2	GRACE INFOTECH	MANAGER	17/07/2002	-	NA
3	GRACE INFOTECH	OWNER	17/07/2002	-	NA
4	NEST CONNECTIVITY SOLUTIONS PTE. LTD.	DIRECTOR	19/03/2009	-	NA
5	NEST CONNECTIVITY SOLUTIONS PTE. LTD.	SECRETARY	19/03/2009	-	NA
6	SFO TECHNOLOGIES PTE. LTD.	SECRETARY	19/03/2009	-	NA
7	SFO TECHNOLOGIES PTE. LTD.	DIRECTOR	14/12/2007	-	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 (%)
SFO TECHNOLOGIES PTE. LTD.	100

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201209662
	Date of Registration	:	27/08/2012
	Chargee	:	STATE BANK OF INDIA
	Amount Secured and Currency	:	All Monies
	Address	:	135 CECIL STREET #01-00 SINGAPORE 069536

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	14/12/2011
Date of Last AR	:	06/01/2012
Date of A/C Laid At Last AGM	:	31/03/2011

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
	MAR 2011	% Change	MAR 2010
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	3,853,816	182.03	1,366,477
Profit/(Loss) Before Tax	25,050	-10.30	27,926
Profit After Tax attributable to Shareholders	23,390	-9.26	25,778
Balance Sheet Key Figures
Total Assets	1,358,788	292.15	346,501
Current Assets	1,356,192	291.40	346,501
Non Current Assets	2,596	NA	0
Total Liabilities	1,209,879	277.24	320,722
Current Liabilities	1,209,879	277.24	320,722
Non Current Liabilities	0	NA	0
Shareholders' Funds	148,910	477.64	25,779
Share Capital	101,623	10,162,200.00	1
Total Reserves	47,287	83.44	25,778

FINANCIAL RATIOS

	Company
	MAR 2011	MAR 2010
Growth %
Year-on-Year Growth	182.03	NA
Profitability
Profit Margin (%)	0.61	1.89
Return on Equity (%)	15.71	100.00
Return on Assets (%)	1.72	7.44
Leverage
Total Debt/Equity (Times)	8.12	12.44
Current Debt/Equity (Times)	8.12	12.44
Long Term Debt To Equity (Times)	0.00	0.00
Total Asset To Total Equity (Times)	9.12	13.44
Asset Management
Total Assets Turnover (Times)	2.84	3.94
Fixed Assets Turnover (Times)	1,484.52	0.00
Liquidity
Current Ratio (Times)	1.12	1.08

FINANCIAL COMMENTARY

Profitability

The company yielded a rate of net profit on sales of 0.61 per cent in FY11 (FY10: 1.89 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.02 a year ago.

Liquidity

Current ratio stood at 1.12 times in FY11 (FY10: 1.08 times). This means that the company has SGD - SIN 1.12 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.

Leverage

Total debt-to-equity ratio notched 8.12 times in FY11, compared with 12.44 times in FY10. This means that the company requires additional external financing of SGD - SIN 8.12 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 15.71 per cent for Subject in the current financial period, as compared to 100.00 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 1.72 per cent (FY10: 7.44 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 2.84 times in FY11 (FY10: 3.94 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.59.15
UK Pound	1	Rs.90.05
Euro	1	Rs.77.06

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
s71-85	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.