MIRA INFORM REPORT

Report Date :

04.06.2013

IDENTIFICATION DETAILS

Name :	SUDIMA INTERNATIONAL PTE LTD

Registered Office :	151 Chin Swee Road #09-08 Manhattan House Singapore 169876

Country :	Singapore

Financials (as on) :	30.09.2012

Date of Incorporation :	27.01.1994

Com. Reg. No.:	199400641G

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 :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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

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:
SUDIMA INTERNATIONAL PTE LTD	199400641G

Date Incorporated:	Registered Office:	Telephone Number:
27/01/1994	151 CHIN SWEE ROAD #09-08 MANHATTAN HOUSE SINGAPORE 169876	6732 7180
Age of Company:	Website:	Industry Type:
19	www.sudima.com	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): 6
Industry DTC
37

Directors		Corporate Structure
Number of Current Directors	3	Holding Company:	SUREFAME LTD.
Number that are shareholders	3	No. of Subsidiaries & Associated Companies:	1

EXECUTIVE SUMMARY

Company Name	:	SUDIMA INTERNATIONAL PTE LTD
Registration No	:	199400641G
Date of Registration	:	27/01/1994
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	151 CHIN SWEE ROAD #09-08 MANHATTAN HOUSE SINGAPORE 169876
Date of Change of Address	:	NA
Contact No.	:	6732 7180
Fax No.	:	6732 7125
Website	:	www.sudima.com
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$8,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 8,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$8,000,000.00 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	:	1
No. of Local Associates	:	NA
Auditor	:	RSM CHIO LIM LLP
Bankers / Financiers	:	DBS BANK LTD. INDIAN OVERSEAS BANK AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED OVERSEA-CHINESE BANKING CORPORATION LIMITED UCO BANK
Turnover	:	SINGAPORE, DOLLARS 250,216,785.70 (FY2012)
Net Worth	:	SINGAPORE, DOLLARS 12,888,272.06 (FY2012)
No. of Bank Charges	:	6
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	1049 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012) 1169 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 1240 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 1116 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 1213 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)
Compounded Annual Growth Rate (CAGR)	:	14.39% (4 years)

SHAREHOLDER DETAILS

NAME	:	SUREFAME LTD.
SHAREHOLDER ID	:	T08UF4305D
NATIONALITY	:	NA
ADDRESS	:	P.O.BOX 957, ROAD TOWN, OFFSHORE INCORPORATIONS CENTRE TORTOLA, BRITISH VIRGIN ISLANDS
NO. OF ORD SHARES	:	5,600,000
% OF SHAREHOLDING	:	70%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	ANIL KUMAR JHUNJHNUWALA
SHAREHOLDER ID	:	S2597940J
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	5 ALLAMANDA GROVE SINGAPORE 269983
NO. OF ORD SHARES	:	2,380,000
% OF SHAREHOLDING	:	29.8%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	SANGITA JHUNJHNUWALA
SHAREHOLDER ID	:	S2597941I
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	5 ALLAMANDA GROVE SINGAPORE 269983
NO. OF ORD SHARES	:	20,000
% OF SHAREHOLDING	:	0.2%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:		ANIL KUMAR JHUNJHNUWALA
ADDRESS	:		5 ALLAMANDA GROVE SINGAPORE 269983
POSITION	:
DATE OF APPT	:
NATIONALITY	:		SINGAPORE CITIZEN
I/C PASSPORT	:		S2597940J

NAME		:		SANGITA JHUNJHNUWALA
ADDRESS		:		5 ALLAMANDA GROVE SINGAPORE 269983
POSITION		:		DIRECTOR
DATE OF APPT		:		01/07/1998
NATIONALITY		:		SINGAPORE CITIZEN
I/C PASSPORT		:		S2597941I

NAME		:		LAXMI NIWAS JHUNJHNUWALA
ADDRESS		:		5 ALLAMANDA GROVE SINGAPORE 269983
POSITION		:		DIRECTOR
DATE OF APPT		:		27/01/1994
NATIONALITY		:		SINGAPORE P.R.
I/C PASSPORT		:		S2693981Z

NAME		:		MANOJ KUMAR JHUNJHNUWALA
ADDRESS		:		23 ROBINSON RD 6TH FL BLK C HK
POSITION		:		DIRECTOR
DATE OF APPT		:		22/12/2000
NATIONALITY		:		INDIAN
I/C PASSPORT		:		Z1537577

KEY PERSONNEL PROFILE

Name:	ANIL KUMAR JHUNJHNUWALA
NRIC Number:	S2597940J
Available Address:	5 ALLAMANDA GROVE SINGAPORE 269983

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	R.M. CONCEPTS PTE LTD	ALTERNATE DIRECTOR	15/08/2007	-	-
2	RANG MAHAL PTE LTD	ALTERNATE DIRECTOR	29/06/2007	-	-
3	SUDIMA ENTERTAINMENT PTE. LTD.	DIRECTOR	10/12/2007	2500	50.00
4	SUDIMA ENTERTAINMENT PTE. LTD.	SECRETARY	10/12/2007	2500	50.00
5	SUDIMA INTERNATIONAL PTE LTD	SECRETARY	30/09/2011	2380000	29.75
6	SUDIMA INTERNATIONAL PTE LTD	DIRECTOR	01/01/2005	2380000	29.75
7	SUDIMA INTERNATIONAL PTE LTD	MANAGING DIRECTOR	31/08/2009	2380000	29.75
8	SUDIMA PROPERTIES PTE. LTD.	DIRECTOR	20/12/2010	-	-
9	SUDIMA PROPERTIES PTE. LTD.	SECRETARY	15/04/2011	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	AXIOM HOLDINGS PTE LTD	STRUCK OFF	DIRECTOR	24/06/1993	-
2	EURO-INTERNATIONAL PTE LTD	GAZETTED TO BE STRUCK OFF	DIRECTOR	22/03/1993	10/01/2008
3	EURO-INTERNATIONAL PTE LTD	GAZETTED TO BE STRUCK OFF	SHAREHOLDER	-	10/01/2008
4	IMPERIAL REALTY LIMITED	LIVE COMPANY	ALTERNATE DIRECTOR	16/09/1996	-
5	INDOGRAIN PTE LTD	DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)	DIRECTOR	25/10/1993	-
6	INDOGRAIN PTE LTD	DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)	SHAREHOLDER	-	09/01/2012

7	SOFTCO INTERNATIONAL PTE LTD	DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)	DIRECTOR	14/07/1995	-
8	SOFTCO INTERNATIONAL PTE LTD	DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)	SHAREHOLDER	-	13/12/2001
9	SUDIMA COAL AND ENERGY PTE. LTD.	GAZETTED TO BE STRUCK OFF	DIRECTOR	14/02/2006	-
10	SUDIMA COAL AND ENERGY PTE. LTD.	GAZETTED TO BE STRUCK OFF	SECRETARY	14/02/2006	-
11	SUDIMA INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	27/01/1994	31/05/2013
12	SUDIMA PROPERTIES PTE. LTD.	LIVE COMPANY	SECRETARY	20/12/2010	28/05/2013
13	XCHANGING SOLUTIONS (SINGAPORE) PTE. LIMITED	LIVE COMPANY	DIRECTOR	04/01/1994	07/03/2013
14	XCHANGING SOLUTIONS (SINGAPORE) PTE. LIMITED	LIVE COMPANY	SHAREHOLDER	-	07/03/2013

Bankruptcy Record

Case No.	Year	Date of Filing	Petitioner Name	Amount
1023	1998	06/05/1998	BANGKOK BANK PUBLIC COMPANY LIMITED	USD 5,649,590.92

Litigation Search – Writ of Summons

Court	Case No.	Transfer	Year	Date of Filing	Amount	Cause Category
H	233	-	1997	30/01/1997	-	-

SUBSIDIARIES AND ASSOCIATE COMPANIES

Company	Shareholdings (%)

SUDIMA PROPERTIES PTE. LTD.	100

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 6 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.		:		C201200802
	Date of Registration		:		18/01/2012
	Chargee		:		DBS BANK LTD.
	Amount Secured and Currency		:		All Monies
	Address		:		---

2)		Charge No.		:		C201101836
		Date of Registration		:		14/02/2011
		Chargee		:		INDIAN OVERSEAS BANK
		Amount Secured and Currency		:		All Monies
		Address		:		---

3)		Charge No.		:		C201101767
		Date of Registration		:		10/02/2011
		Chargee		:		AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
		Amount Secured and Currency		:		All Monies
		Address		:		---

4)		Charge No.		:		C201008385
		Date of Registration		:		20/09/2010
		Chargee		:		OVERSEA-CHINESE BANKING CORPORATION LIMITED
		Amount Secured and Currency		:		All Monies
		Address		:		---

5)		Charge No.		:		C200803217
		Date of Registration		:		08/04/2008
		Chargee		:		UCO BANK
		Amount Secured and Currency		:		All Monies
		Address		:		---

6)		Charge No.		:		C200401283
		Date of Registration		:		18/03/2004
		Chargee		:		OVERSEA-CHINESE BANKING CORPORATION LIMITED
		Amount Secured and Currency		:		All Monies
		Address		:		---

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	28/03/2013
Date of Last AR	:	22/04/2013
Date of A/C Laid At Last AGM	:	30/09/2012

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	Group
	SEP 2012	% Change	SEP 2011	SEP 2010	SEP 2009	SEP 2008
Currency	SINGAPORE, DOLLARS		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	250,216,786	2.31	244,560,567	187,097,160	154,412,255	146,117,321
Profit/(Loss) Before Tax	3,416,573	42.77	2,392,981	1,868,337	1,022,434	613,871
Profit After Tax attributable to Shareholders	3,056,609	44.03	2,122,199	1,714,688	925,923	503,841

Balance Sheet Key Figures
Total Assets	45,461,950	24.91	36,395,131	30,566,243	25,180,876	21,124,586
Current Assets	41,962,057	27.48	32,917,719	28,589,983	23,199,069	19,017,581
Non Current Assets	3,499,894	0.65	3,477,412	1,976,260	1,981,807	2,107,005

Total Liabilities	32,573,678	22.39	26,613,865	23,169,575	19,020,669	17,527,884
Current Liabilities	32,041,891	25.49	25,533,535	22,089,214	18,980,389	16,935,878
Non Current Liabilities	531,788	-50.78	1,080,330	1,080,361	40,280	592,006

Shareholders' Funds	12,888,272	31.76	9,781,267	7,396,667	6,160,206	3,596,699
Share Capital	7,054,843	0.00	7,054,843	4,560,051	4,856,929	1,636,377
Total Reserves	5,833,429	113.96	2,726,424	2,836,616	1,303,277	1,960,322

FINANCIAL RATIOS

	Group
	SEP 2012	SEP 2011	SEP 2010	SEP 2009	SEP 2008
Growth %
Year-on-Year Growth	2.31	30.71	21.17	5.68	NA

Profitability
Profit Margin (%)	1.22	0.87	0.92	0.60	0.34
Return on Equity (%)	23.72	21.70	23.18	15.03	14.01
Return on Assets (%)	6.72	5.83	5.61	3.68	2.39

Leverage
Total Debt/Equity (Times)	2.53	2.72	3.13	3.09	4.87
Current Debt/Equity (Times)	2.49	2.61	2.99	3.08	4.71
Long Term Debt To Equity (Times)	0.04	0.11	0.15	0.01	0.16
Total Asset To Total Equity (Times)	3.53	3.72	4.13	4.09	5.87

Asset Management
Total Assets Turnover (Times)	5.50	6.72	6.12	6.13	6.92
Fixed Assets Turnover (Times)	71.49	70.33	94.67	77.91	69.35

Liquidity
Current Ratio (Times)	1.31	1.29	1.29	1.22	1.12

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	SEP 2012	% Change	SEP 2011	SEP 2010	SEP 2009	SEP 2008
Currency	SINGAPORE, DOLLARS		SINGAPORE, DOLLARS	SINGAPORE, DOLLARS	SINGAPORE, DOLLARS	SGD - SIN
Profit and Loss Key Figures
Turnover	*	NA	0	0	0	144,631,207
Profit/(Loss) Before Tax	*	NA	0	0	0	708,060
Profit After Tax attributable to Shareholders	*	NA	0	0	0	598,030

Balance Sheet Key Figures
Total Assets	43,219,217	24.11	34,822,621	29,054,392	23,744,614	18,833,604
Current Assets	40,700,863	26.13	32,267,971	27,299,417	21,951,701	17,368,410
Non Current Assets	2,518,353	-1.42	2,554,651	1,754,974	1,792,914	1,465,194

Total Liabilities	30,862,300	24.17	24,853,986	21,686,965	17,413,016	15,115,137
Current Liabilities	30,330,512	27.35	23,815,941	20,737,719	17,396,333	15,083,790
Non Current Liabilities	531,788	-48.77	1,038,046	949,246	16,683	31,347

Shareholders' Funds	12,356,917	23.96	9,968,635	7,367,427	6,331,598	3,718,466
Share Capital	7,054,843	0.00	7,054,843	4,560,025	4,857,067	1,636,377
Total Reserves	5,302,074	81.96	2,913,792	2,807,402	1,474,531	2,082,089

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

FINANCIAL RATIOS

	Company
	SEP 2012	SEP 2011	SEP 2010	SEP 2009	SEP 2008
Growth %
Year-on-Year Growth	NA	NA	NA	-100.00	NA

Profitability
Profit Margin (%)	0.00	0.00	0.00	0.00	0.41
Return on Equity (%)	0.00	0.00	0.00	0.00	16.08
Return on Assets (%)	0.00	0.00	0.00	0.00	3.18

Leverage
Total Debt/Equity (Times)	2.50	2.49	2.94	2.75	4.06
Current Debt/Equity (Times)	2.45	2.39	2.81	2.75	4.06
Long Term Debt To Equity (Times)	0.04	0.10	0.13	0.00	0.01
Total Asset To Total Equity (Times)	3.50	3.49	3.94	3.75	5.06

Asset Management
Total Assets Turnover (Times)	0.00	0.00	0.00	0.00	7.68
Fixed Assets Turnover (Times)	0.00	0.00	0.00	0.00	98.71

Liquidity
Current Ratio (Times)	1.34	1.35	1.32	1.26	1.15

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 14.39% (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 group yielded a rate of net profit on sales of 1.22 per cent in FY12 (FY11: 0.87 per cent). The group 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 0.01 a year ago.

Liquidity

Current ratio stood at 1.31 times in FY12 (FY11: 1.29 times). This means that the group has SINGAPORE, DOLLARS 1.31 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 2.53 times in FY12, compared with 2.72 times in FY11. This means that the group requires additional external financing of SINGAPORE, DOLLARS 2.53 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 23.72 per cent for Subject in the current financial period, as compared to 21.70 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 6.72 per cent (FY11: 5.83 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 5.50 times in FY12 (FY11: 6.72 times). This ratio measures the group'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
s26-40	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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

SHAREHOLDER DETAILS

OFFICER DETAILS

KEY PERSONNEL PROFILE

SUBSIDIARIES AND ASSOCIATE COMPANIES

BANKERS/ FINANCIERS

LITIGATION

COMPLIANCE

FINANCIAL HIGHLIGHTS

FINANCIAL RATIOS

FINANCIAL HIGHLIGHTS

FINANCIAL RATIOS

FINANCIAL COMMENTARY

Compound Annual Growth Rate

FINANCIAL COMMENTARY

FINANCIAL COMMENTARY

Unit