MIRA INFORM REPORT

Report Date :

04.06.2013

IDENTIFICATION DETAILS

Name :	MORIMOTO SINGAPORE PTE. LTD.
Registered Office :	51 Penjuru Road #02-02 Singapore 609143
Country :	Singapore
Financials (as on) :	31.07.2011
Date of Incorporation :	02.10.2000
Com. Reg. No.:	200008502D
Legal Form :	Limited Private Company
Line of Business :	General Wholesale Trade (Including General Importers and Exporters) (We tried to confirm / obtain the detailed activity but the same is not available from any sources.)
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 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:
MORIMOTO SINGAPORE PTE. LTD.	200008502D

Date Incorporated:	Registered Office:	Telephone Number:
02/10/2000	51 PENJURU ROAD #02-02 SINGAPORE 609143	63341305
Age of Company:	Website:	Industry Type:
13	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
37

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	MORIMOTO MANUFACTURING CO LTD
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	MORIMOTO SINGAPORE PTE. LTD.
Registration No	:	200008502D
Date of Registration	:	02/10/2000
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	51 PENJURU ROAD #02-02 SINGAPORE 609143
Date of Change of Address	:	27/10/2011
Contact No.	:	63341305
Fax No.	:	63341365
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$200,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 200,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$200,000.00 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	:	BAKER TILLY TFW LLP
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 8,507,257.26 (FY2011)
Net Worth	:	SINGAPORE, DOLLARS 1,554,319.83 (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)	:	0.09% (4 years)

SHAREHOLDER DETAILS

NAME	:	MORIMOTO MANUFACTURING CO LTD
SHAREHOLDER ID	:	T00UF0670F
NATIONALITY	:	JAPAN
ADDRESS	:	180 SUNA SHIJONAWATE CITY OSAKA 575-0001 JAPAN
NO. OF ORD SHARES	:	200,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:		SATOSHI MIZUNO
ADDRESS	:		60 BAYSHORE ROAD #10-01 BAYSHORE PARK SINGAPORE 469982
POSITION	:		DIRECTOR
DATE OF APPT	:		02/10/2000
NATIONALITY	:		JAPANESE
I/C PASSPORT	:		F5504200N
NAME		:		JULIANA LOH JOO HUI
ADDRESS		:		22 ST. GEORGE'S ROAD #12-182 SINGAPORE 321022
POSITION		:		SECRETARY
DATE OF APPT		:		01/07/2003
NATIONALITY		:		SINGAPORE CITIZEN
I/C PASSPORT		:		S2558149J
NAME		:		MORIMOTO YOSHIHIDE
ADDRESS		:		14-20-512, KOURIEN CHOU, HIRAKATA CITY OSAKA, JAPAN
POSITION		:		DIRECTOR
DATE OF APPT		:		23/04/2012
NATIONALITY		:		JAPANESE
I/C PASSPORT		:		TH1897128

KEY PERSONNEL PROFILE

Name:	SATOSHI MIZUNO
NRIC Number:	F5504200N
Available Address:	60 BAYSHORE ROAD #10-01 BAYSHORE PARK SINGAPORE 469982

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	MORIMOTO SINGAPORE PTE. LTD.	DIRECTOR	02/10/2000	-	-

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	:	23/03/2012
Date of Last AR	:	18/04/2012
Date of A/C Laid At Last AGM	:	31/07/2011

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
	JUL 2011	% Change	JUL 2010	JUL 2009	JUL 2008	JUL 2007
Currency	SINGAPORE, DOLLARS		SINGAPORE, DOLLARS	SGD - SIN	SGD - SIN	SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	8,507,257	-3.69	8,833,329	7,872,749	8,322,574	8,478,380
Profit/(Loss) Before Tax	296,783	81.55	163,469	(242,453)	(111,886)	53,975
Profit After Tax attributable to Shareholders	270,010	32.03	204,500	(242,453)	(105,257)	45,911
Balance Sheet Key Figures
Total Assets	5,629,117	11.60	5,043,993	4,017,333	4,673,244	4,082,112
Current Assets	5,580,037	12.61	4,955,300	3,944,262	4,629,063	3,995,768
Non Current Assets	49,080	-44.66	88,694	73,071	44,181	86,344
Total Liabilities	4,074,797	12.16	3,633,156	2,747,930	3,218,999	2,388,018
Current Liabilities	4,067,403	12.20	3,625,033	2,747,930	3,218,999	2,388,018
Non Current Liabilities	7,394	-8.97	8,123	0	0	0
Shareholders' Funds	1,554,320	10.17	1,410,837	1,269,404	1,454,244	1,694,093
Share Capital	146,120	-8.97	160,516	168,907	162,471	176,493
Total Reserves	1,408,200	12.63	1,250,322	1,100,497	1,291,773	1,517,601

FINANCIAL RATIOS

	Company
	JUL 2011	JUL 2010	JUL 2009	JUL 2008	JUL 2007
Growth %
Year-on-Year Growth	-3.69	12.20	-5.40	-1.84	NA
Profitability
Profit Margin (%)	3.17	2.32	-3.08	-1.26	0.54
Return on Equity (%)	17.37	14.49	-19.10	-7.24	2.71
Return on Assets (%)	4.80	4.05	-6.04	-2.25	1.12
Leverage
Total Debt/Equity (Times)	2.62	2.58	2.16	2.21	1.41
Current Debt/Equity (Times)	2.62	2.57	2.16	2.21	1.41
Long Term Debt To Equity (Times)	0.00	0.01	0.00	0.00	0.00
Total Asset To Total Equity (Times)	3.62	3.58	3.16	3.21	2.41
Asset Management
Total Assets Turnover (Times)	1.51	1.75	1.96	1.78	2.08
Fixed Assets Turnover (Times)	173.34	99.59	107.74	188.37	98.19
Liquidity
Current Ratio (Times)	1.37	1.37	1.44	1.44	1.67

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 0.09% (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 3.17 per cent in FY11 (FY10: 2.32 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.03 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.02 a year ago.

Liquidity

Current ratio stood at 1.37 times in FY11 (FY10: 1.37 times). This means that the company has SINGAPORE, DOLLARS 1.37 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

FINANCIAL COMMENTARY

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 2.62 times in FY11, compared with 2.58 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.62 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 17.37 per cent for Subject in the current financial period, as compared to 14.49 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 4.80 per cent (FY10: 4.05 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

FINANCIAL COMMENTARY

Total assets turnover ratio logged at 1.51 times in FY11 (FY10: 1.75 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.56.57
UK Pound	1	Rs.86.15
Euro	1	Rs.73.64

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.

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