MIRA INFORM REPORT

 

 

Report Date :

06.06.2013

 

IDENTIFICATION DETAILS

 

Name :

BAN LEONG TECHNOLOGIES LIMITED

 

 

Formerly Known As :

BAN LEONG TECHNOLOGIES PTE LTD

 

 

Registered Office :

150 Ubi Avenue 4 #04-01 Ubi Biz-Hub Singapore 408825

 

 

Country :

Singapore

 

 

Financials (as on) :

March 2012

 

 

Date of Incorporation :

18.06.1993

 

 

Com. Reg. No.:

199303898C

 

 

Legal Form :

Public Company Limited By Shares

 

 

Line of Business :

·         Wholesale of Computer Hardware and Peripheral Equipment

·         Retail Sale of Computer Hardware and Accessories and Computer Software (Except Games)

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 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:

BAN LEONG TECHNOLOGIES LIMITED

199303898C

 

Date Incorporated:

Registered Office:

Telephone Number:

18/06/1993

150 UBI AVENUE 4 #04-01 UBI BIZ-HUB SINGAPORE 408825

6512 9221

Age of Company:

Website:

Industry Type:

20

www.banleong.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):
0

 

 

 

Industry DTC

 

 

37

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

NA

Number that are shareholders

NA

No. of Subsidiaries & Associated Companies:

2

 

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

BAN LEONG TECHNOLOGIES LIMITED

Registration No

:

199303898C

Date of Registration

:

18/06/1993

Former Name

:

BAN LEONG TECHNOLOGIES PTE LTD Eff. date : 18/06/1993 Eff. date : 18/06/1993

Date of Change of Name

:

17/05/2005

Type of Company

:

PUBLIC COMPANY LIMITED BY SHARES

Registered Address

:

150 UBI AVENUE 4 #04-01 UBI BIZ-HUB SINGAPORE 408825

Date of Change of Address

:

01/10/2012

Contact No.

:

6512 9221

Fax No.

:

6741 9295

Website

:

www.banleong.com

Registered Activities

:

1. WHOLESALE OF COMPUTER HARDWARE AND PERIPHERAL EQUIPMENT

2. RETAIL SALE OF COMPUTER HARDWARE AND ACCESSORIES AND COMPUTER SOFTWARE (EXCEPT GAMES)

Issued Ordinary Capital*

:

$11,173,105.96 SINGAPORE, DOLLARS ,NO. OF SHARE : 117,181,818

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$11,173,105.96 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

:

2

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 113,671,826.00 (FY2012)

Net Worth

:

SGD - SIN 23,646,656.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

269 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2011/2012)

1798 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

264 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2010/2011)

1683 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1582 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

As Subject is registered as a public company limited by shares, its shareholder details are not available. Please refer to documentary for information.

 

 

OFFICER DETAILS

 

NAME

:

TAN ENG BOCK

ADDRESS

:

157C TAMARIND ROAD #01-02 SERENITY PARK SINGAPORE 806107

POSITION

:

DIRECTOR

DATE OF APPT

:

12/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0255961G

 

NAME

:

LOH YIH

ADDRESS

:

34 GREENLEAF DRIVE BAN GUAN PARK SINGAPORE 279543

POSITION

:

DIRECTOR

DATE OF APPT

:

12/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1652937J

 

NAME

:

CHNG HOCK HUAT

ADDRESS

:

30 BARKER ROAD SINGAPORE 309906

POSITION

:

DIRECTOR

DATE OF APPT

:

28/07/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1794126G

 

NAME

:

TENG WOO BOON

ADDRESS

:

3 TAMAN SIGLAP OPERA ESTATE SINGAPORE 455666

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

18/06/1993

09/07/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6914787I

 

NAME

:

NEO GIM KIONG

ADDRESS

:

175 TAMARIND ROAD CAMELIA PARK SINGAPORE 806129

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6928060I

 

NAME

:

PAN MI KEAY

ADDRESS

:

98 ALJUNIED CRESCENT #03-421 SINGAPORE 380098

POSITION

:

SECRETARY

DATE OF APPT

:

01/05/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6967959E

 

NAME

:

LEE WEI HSIUNG

ADDRESS

:

633 JURONG WEST STREET 65 #10-310 SINGAPORE 640633

POSITION

:

SECRETARY

DATE OF APPT

:

01/05/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7927166G

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TENG WOO BOON

NRIC Number:

S6914787I

Available Address:

3 TAMAN SIGLAP OPERA ESTATE  SINGAPORE 455666

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

AV LABS INTERNATIONAL PTE. LTD.

DIRECTOR

23/06/2006

-

NA

2

BAN LEONG TECHNOLOGIES LIMITED

DIRECTOR

18/06/1993

-

NA

3

BAN LEONG TECHNOLOGIES LIMITED

MANAGING DIRECTOR

09/07/1993

-

NA

4

DIGITAL HUB PTE. LTD.

DIRECTOR

20/03/2003

-

NA

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AV LABS INTERNATIONAL PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

23/01/2013

2

BAN LEONG BROTHERS PTE LTD

LIVE COMPANY

SHAREHOLDER

-

28/02/2013

3

BAN LEONG TECHNOLOGIES LIMITED

LIVE COMPANY

SHAREHOLDER

-

29/04/2013

4

DIGITAL HUB PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

04/12/2012

 

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

DIGITAL HUB PTE. LTD.

100

AV LABS INTERNATIONAL PTE. LTD.

100

                                                                                                                       

 

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

:

26/07/2012

Date of Last AR

:

17/08/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

COMPLIANCE RATING FOR ANNUAL FILING

 

http://www.bizfile.gov.sg/mybizfile/prod/pop_up/Tick.png

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

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

113,671,826

3.63

109,691,519

112,858,823

158,888,088

120,684,615

Profit/(Loss) Before Tax

2,512,887

-13.48

2,904,392

4,163,423

(871,991)

5,143,368

Profit After Tax attributable to Shareholders

561,373

-76.14

2,352,542

3,293,494

(744,929)

3,778,609

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

53,486,928

11.53

47,958,890

49,071,445

49,272,902

54,337,930

Current Assets

50,356,218

19.04

42,300,323

43,422,056

43,402,832

48,455,088

Non Current Assets

3,130,710

-44.67

5,658,567

5,649,389

5,870,070

5,882,842

 

 

 

 

 

 

 

Total Liabilities

29,840,272

23.59

24,144,338

26,351,711

29,679,368

31,669,025

Current Liabilities

29,435,309

23.08

23,915,977

26,106,079

29,454,477

31,348,051

Non Current Liabilities

404,963

77.33

228,361

245,632

224,891

320,974

 

 

 

 

 

 

 

Shareholders' Funds

23,646,656

-0.71

23,814,552

22,719,734

19,593,534

22,668,905

Share Capital

11,173,106

0.00

11,173,106

11,173,106

11,173,106

11,173,106

Total Reserves

12,473,550

-1.33

12,641,446

11,546,628

8,420,428

11,495,799

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

3.63

-2.81

-28.97

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.49

2.14

2.92

NA

3.13

Return on Equity (%)

2.37

9.88

14.50

NA

16.67

Return on Assets (%)

1.05

4.91

6.71

NA

6.95

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.26

1.01

1.16

1.51

1.40

Current Debt/Equity (Times)

1.24

1.00

1.15

1.50

1.38

Long Term Debt To Equity (Times)

0.02

0.01

0.01

0.01

0.01

Total Asset To Total Equity (Times)

2.26

2.01

2.16

2.51

2.40

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.13

2.29

2.30

3.22

2.22

Fixed Assets Turnover (Times)

36.31

19.39

19.98

27.07

20.51

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.71

1.77

1.66

1.47

1.55

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

The group yielded a rate of net profit on sales of 0.49 per cent in FY12. The group is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.71 times in FY12. This means that the group has SGD - SIN 1.71 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 1.26 times in FY12. This means that the group requires additional external financing of SGD - SIN 1.26 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 2.37 per cent for Subject in the current financial period. 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 1.05 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 2.13 times in FY12. 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.56.42

UK Pound

1

Rs.86.53

Euro

1

Rs.73.85

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.