MIRA INFORM REPORT

Report Date :

03.06.2013

IDENTIFICATION DETAILS

Name :	SENTOSA CAPITAL (PTE.) LTD.
Registered Office :	3 Pickering Street #03-09 Nankin Row Singapore 048660
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	20.01.2010
Com. Reg. No.:	201001651C
Legal Form :	Limited Private Company
Line of Business :	Business and Management Consultancy Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor
Payment Behaviour :	Unknown
Litigation :	--

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

EXECUTIVE SUMMARY

Company Name	:	SENTOSA CAPITAL (PTE.) LTD.
Registration No	:	201001651C
Date of Registration	:	20/01/2010
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	3 PICKERING STREET #03-09 NANKIN ROW SINGAPORE 048660
Date of Change of Address	:	10/05/2010
Contact No.	:	62258658
Fax No.	:	NA
Website	:	NA
Registered Activities	:	BUSINESS AND MANAGEMENT CONSULTANCY SERVICES NEC INVESTMENT MANGEMENT SERVICES
Issued Ordinary Capital*	:	$357,250.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 75,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$357,250.00 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	:	ENTRUST PUBLIC ACCOUNTING CORPORATION
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 570,654.00 (FY2011)
Net Worth	:	SGD - SIN 187,571.00 (FY2011)
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)	:	NA

SHAREHOLDER DETAILS

NAME	:	FREIGHT LINKS EXPRESS HOLDINGS LIMITED
SHAREHOLDER ID	:	198600061G
NATIONALITY	:	SINGAPORE
ADDRESS	:	51 PENJURU ROAD #04-00 FREIGHT LINKS EXPRESS LOGISTICENTRE SINGAPORE 609143
NO. OF ORD SHARES	:	22,500
% OF SHAREHOLDING	:	30%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	CHARLIE JIEH WANG
SHAREHOLDER ID	:	S2692761G
NATIONALITY	:	SINGAPORE P.R.
ADDRESS	:	25 ANDERSON ROAD #04-02 AVALON SINGAPORE 259986
NO. OF ORD SHARES	:	18,750
% OF SHAREHOLDING	:	25%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	BRADLEY MICHAEL LEVITT
SHAREHOLDER ID	:	S2725119F
NATIONALITY	:	SINGAPORE P.R.
ADDRESS	:	112 ARTHUR ROAD SINGAPORE 439823
NO. OF ORD SHARES	:	18,750
% OF SHAREHOLDING	:	25%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	ONG HIEN YEOW
SHAREHOLDER ID	:	S1734914G
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	9 TANJONG RHU ROAD #19-03 WATERSIDE, THE SINGAPORE 436894
NO. OF ORD SHARES	:	6,000
% OF SHAREHOLDING	:	8%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	CHOYNOWSKI DE LUBICZ OSKAR
SHAREHOLDER ID	:	S7568686B
NATIONALITY	:	AMERICAN
ADDRESS	:	6 MARINA BOULEVARD #06-22 SAIL @ MARINA BAY, THE SINGAPORE 018985
NO. OF ORD SHARES	:	5,250
% OF SHAREHOLDING	:	7%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	ANTHONY GERARD MARTIN
SHAREHOLDER ID	:	761071960
NATIONALITY	:	BRITISH
ADDRESS	:	STAMFORD, ASHWORTHS BUSH ROAD RD2 RANGIORA 7472, NEW ZEALAND
NO. OF ORD SHARES	:	3,750
% OF SHAREHOLDING	:	5%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:		SIM GEOK BENG
ADDRESS	:		29 LORONG LEW LIAN #02-06 CHERRY HILL CONDOMINIUM SINGAPORE 536471
POSITION	:		DIRECTOR
DATE OF APPT	:		26/05/2011
NATIONALITY	:		SINGAPORE CITIZEN
I/C PASSPORT	:		S1462023J
NAME		:		THOMAS WOO SAI MENG
ADDRESS		:		68 TANAH MERAH KECHIL AVENUE #06-33 CASA MERAH SINGAPORE 465533
POSITION		:		DIRECTOR
DATE OF APPT		:		01/04/2011
NATIONALITY		:		SINGAPORE CITIZEN
I/C PASSPORT		:		S2001554C
NAME		:		CHARLIE JIEH WANG
ADDRESS		:		25 ANDERSON ROAD #04-02 AVALON SINGAPORE 259986
POSITION		:		DIRECTOR
DATE OF APPT		:		20/01/2010
NATIONALITY		:		SINGAPORE P.R.
I/C PASSPORT		:		S2692761G
NAME		:		BRADLEY MICHAEL LEVITT
ADDRESS		:		112 ARTHUR ROAD SINGAPORE 439823
POSITION		:		DIRECTOR
DATE OF APPT		:		20/01/2010
NATIONALITY		:		SINGAPORE P.R.
I/C PASSPORT		:		S2725119F
NAME		:		CHOYNOWSKI DE LUBICZ OSKAR
ADDRESS		:		6 MARINA BOULEVARD #06-22 SAIL @ MARINA BAY, THE SINGAPORE 018985
POSITION		:		SECRETARY
DATE OF APPT		:		20/01/2010
NATIONALITY		:		AMERICAN
I/C PASSPORT		:		S7568686B

KEY PERSONNEL PROFILE

Name:	BRADLEY MICHAEL LEVITT
NRIC Number:	S2725119F
Available Address:	112 ARTHUR ROAD SINGAPORE 439823

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	SENTOSA CAPITAL (PTE.) LTD.	DIRECTOR	20/01/2010	18750	25.00
2	SENTOSA CAPITAL (PTE.) LTD.	MANAGING DIRECTOR	20/01/2010	18750	25.00

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 are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	16/05/2012
Date of Last AR	:	14/06/2012
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
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	570,654	NA	0
Profit/(Loss) Before Tax	(77,778)	NA	(91,901)
Profit After Tax attributable to Shareholders	(77,778)	NA	(91,901)
Balance Sheet Key Figures
Total Assets	359,770	127.56	158,099
Current Assets	344,510	141.26	142,798
Non Current Assets	15,260	-0.27	15,301
Total Liabilities	172,199	NA	0
Current Liabilities	172,199	NA	0
Non Current Liabilities	0	NA	0
Shareholders' Funds	187,571	18.64	158,099
Share Capital	357,250	42.90	250,000
Total Reserves	(169,679)	NA	(91,901)

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010
Growth %
Year-on-Year Growth	NA	NA
Profitability
Profit Margin (%)	-13.63	0.00
Return on Equity (%)	-41.47	-58.13
Return on Assets (%)	-21.62	-58.13
Leverage
Total Debt/Equity (Times)	0.92	0.00
Current Debt/Equity (Times)	0.92	0.00
Long Term Debt To Equity (Times)	0.00	0.00
Total Asset To Total Equity (Times)	1.92	1.00
Asset Management
Total Assets Turnover (Times)	1.59	0.00
Fixed Assets Turnover (Times)	37.40	0.00
Liquidity
Current Ratio (Times)	2.00	0.00

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 2.00 times in FY11. This means that the company has SGD - SIN 2.00 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 0.92 times in FY11. This means that the company requires additional external financing of SGD - SIN 0.92 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

We are unable to comment on Subject's return on equity.

We are unable to comment on Subject's return on assets.

Total assets turnover ratio logged at 1.59 times in FY11. 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.56.49
UK Pound	1	Rs.86.01
Euro	1	Rs.73.68

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS s	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.