MIRA INFORM REPORT

 

 

Report Date :

24.07.2013

 

IDENTIFICATION DETAILS

 

Name :

PREMARK INTERNATIONAL PTE. LTD.

 

 

Registered Office :

100 Beach Road #30-00 Shaw Towers Singapore 189702

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

29.06.2010

 

 

Com. Reg. No.:

201013663G

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

·         General Wholesale Trade (Including General Importers And Exporters)

·         Trading, Importers & Exporters of Timber Round Logs, Ferrous and Non-Ferrous Scrap and other products like Copper Ore, Copper Blisters, Ferrous and Non Ferrous Scrap, Construction Material, Steel Products, PVC Resin, HDPE, Automobile Spares, Agro Commodities and many other products.

 

 

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 – 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:

PREMARK INTERNATIONAL PTE. LTD.

201013663G

 

Date Incorporated:

Registered Office:

Telephone Number:

29/06/2010

100 BEACH ROAD #30-00 SHAW TOWERS SINGAPORE 189702

62242524

Age of Company:

Website:

Industry Type:

3

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):
4

Industry DTC

 

23

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

PREMARK INTERNATIONAL PTE. LTD.

Registration No

:

201013663G

Date of Registration

:

29/06/2010

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

100 BEACH ROAD #30-00 SHAW TOWERS SINGAPORE 189702

Date of Change of Address

:

05/08/2011

Business Address

:

3 Shenton Way #12-02 Shenton House, Singapoure 068805

Contact No.

:

62242524

Fax No.

:

NA

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

TRADING, IMPORTERS & EXPORTERS OF TIMBER ROUND LOGS, FERROUS AND NON-FERROUS SCRAP AND OTHER PRODUCTS LIKE COPPER ORE, COPPER BLISTERS, FERROUS AND NON FERROUS SCRAP, CONSTRUCTION MATERIAL, STEEL PRODUCTS, PVC RESIN, HDPE, AUTOMOBILE SPARES, AGRO COMMODITIES AND MANY OTHER PRODUCTS.

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

NEXIA TS PUBLIC ACCOUNTING CORPORATION

Bankers / Financiers

:

CITIBANK N.A.

DBS BANK LTD.

INDIAN BANK

Turnover

:

SINGAPORE, DOLLARS 20,691,910.30 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 1,613,927.61 (FY2012)

No. of Bank Charges

:

4

No. of Litigation Suits

:

NA

 

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

RAVI KUMAR JAIN

SHAREHOLDER ID

:

H9905131

NATIONALITY

:

INDIAN

ADDRESS

:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

NO. OF ORD SHARES

:

500,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHETAN KHANNA

SHAREHOLDER ID

:

Z1800289

NATIONALITY

:

INDIAN

ADDRESS

:

HOUSE NO 1B, JALAN APOLLO, DESHON ROAD SIBU (SARAWAK) 96000, MALAYSIA

NO. OF ORD SHARES

:

500,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RAVI KUMAR JAIN

ADDRESS

:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H9905131

 

NAME

:

LIM HORNG LING

ADDRESS

:

178 PAYA LEBAR ROAD #05-01 PAYA LEBAR 178 SINGAPORE 409030

POSITION

:

SECRETARY

DATE OF APPT

:

01/07/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6925973A

 

NAME

:

AGRAWAL SOHAM GHANSHYAM

ADDRESS

:

1 SIGLAP ROAD #02-16 MANDARIN GARDENS SINGAPORE 448906

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7084664J

 

NAME

:

CHETAN KHANNA

ADDRESS

:

HOUSE NO 1B, JALAN APOLLO, DESHON ROAD SIBU (SARAWAK) 96000, MALAYSIA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/06/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1800289

 

KEY PERSONNEL PROFILE

 

Name:

RAVI KUMAR JAIN

NRIC Number:

H9905131

Available Address:

PLOT - 418, WARD - 12/C, LILASHAH NAGAR, GANDHIDHAM KUTCH - 370201, INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

PREMARK INTERNATIONAL PTE. LTD.

DIRECTOR

29/06/2010

500000

50.00

 

 

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 have been 4 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201211053

 

Date of Registration

:

27/09/2012

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

2)

Charge No.

:

C201112776

 

Date of Registration

:

11/10/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

3)

Charge No.

:

C201112773

 

Date of Registration

:

11/10/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

4)

Charge No.

:

C201110759

 

Date of Registration

:

26/08/2011

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

19/12/2012

Date of Last AR

:

17/01/2013

Date of A/C Laid At Last AGM

:

31/03/2012
 

COMPLIANCE RATING FOR ANNUAL FILING

 

Description: https://www.psi.gov.sg/EformApps/MYBIZFILE-COMMON/v34/COMMON/wImage224.png

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 2012

% Change

MAR 2011

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

20,691,910

38.51

14,938,900

Profit/(Loss) Before Tax

361,314

-8.80

396,183

Profit After Tax attributable

 to Shareholders

306,844

-20.28

384,892

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

6,239,591

61.12

3,872,721

Current Assets

6,238,732

61.16

3,871,078

Non Current Assets

859

-47.69

1,643

 

 

 

 

Total Liabilities

4,625,664

85.17

2,498,006

Current Liabilities

4,625,664

85.17

2,498,006

Non Current Liabilities

0

NA

0

 

 

 

 

Shareholders' Funds

1,613,928

17.40

1,374,715

Share Capital

941,127

-4.92

989,824

Total Reserves

672,800

74.80

384,891

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

Growth %

 

 

Year-on-Year Growth

38.51

NA

 

 

 

Profitability

 

 

Profit Margin (%)

1.48

2.58

Return on Equity (%)

19.01

28.00

Return on Assets (%)

4.92

9.94

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

2.87

1.82

Current Debt/Equity (Times)

2.87

1.82

Long Term Debt To Equity (Times)

0.00

0.00

Total Asset To Total Equity (Times)

3.87

2.82

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

3.32

3.86

Fixed Assets Turnover (Times)

24,076.12

9,092.45

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.35

1.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 1.48 per cent in FY12 (FY11: 2.58 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales in FY12, as compared with SINGAPORE, DOLLARS 0.03 a year ago.

 

 

Liquidity

Current ratio stood at 1.35 times in FY12 (FY11: 1.55 times). This means that the company has SINGAPORE, DOLLARS 1.35 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

Total debt-to-equity ratio notched 2.87 times in FY12, compared with 1.82 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.87 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 19.01 per cent for Subject in the current financial period, as compared to 28.00 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 4.92 per cent (FY11: 9.94 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 3.32 times in FY12 (FY11: 3.86 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.59.68

UK Pound

1

Rs.91.66

Euro

1

Rs.78.68

 

 

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.