MIRA INFORM REPORT

 

 

Report Date :

22.06.2013

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL BUSINESS NETWORKS PTE. LTD.

 

 

Registered Office :

10 Admiralty Street #04-13 North Link Building Singapore 757695

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2011 (Group)

 

 

Date of Incorporation :

07.01.2011

 

 

Com. Reg. No.:

201100775M

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

·         General wholesale trade (including general importers and exporters)

Installation of industrial machinery and equipment; mechanical engineering works industrial automation systems supply

 

 

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:

INTERNATIONAL BUSINESS NETWORKS PTE. LTD.

201100775M

 

Date Incorporated:

Registered Office:

Telephone Number:

07/01/2011

10 ADMIRALTY STREET #04-13 NORTH LINK BUILDING SINGAPORE 757695

NA

Age of Company:

Website:

Industry Type:

2

NA

NA

 

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):
1

Industry DTC

 

37

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

NA

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

INTERNATIONAL BUSINESS NETWORKS PTE. LTD.

Registration No

:

201100775M

Date of Registration

:

07/01/2011

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

10 ADMIRALTY STREET #04-13 NORTH LINK BUILDING SINGAPORE 757695

Date of Change of Address

:

08/06/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. INSTALLATION OF INDUSTRIAL MACHINERY AND EQUIPMENT; MECHANICAL ENGINEERING WORKS

INDUSTRIAL AUTOMATION SYSTEMS SUPPLY

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

:

1

No. of Local Associates

:

NA

Auditor

:

J B CHUA & CO.

Bankers / Financiers

:

DBS BANK LTD.

Turnover

:

SGD - SIN 6,430,150.00 (FY2011)

Net Worth

:

SGD - SIN 463,661.00 (FY2011)

No. of Bank Charges

:

1

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

:

PREMARAJAN PONNAMBATH

SHAREHOLDER ID

:

S2636924Z

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

65 ROSEWOOD DRIVE #01-21 ROSEWOOD SUITES SINGAPORE 737875

NO. OF ORD SHARES

:

200,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

PREMARAJAN PONNAMBATH

ADDRESS

:

65 ROSEWOOD DRIVE #01-21 ROSEWOOD SUITES SINGAPORE 737875

POSITION

:

DIRECTOR

DATE OF APPT

:

07/01/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2636924Z

 

NAME

:

LIM SIEW LEE

ADDRESS

:

65 ROSEWOOD DRIVE #01-21 ROSEWOOD SUITES SINGAPORE 737875

POSITION

:

DIRECTOR

DATE OF APPT

:

07/01/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7473571A

 

 

KEY PERSONNEL PROFILE

 

Name:

PREMARAJAN PONNAMBATH

NRIC Number:

S2636924Z

Available Address:

65 ROSEWOOD DRIVE #01-21 ROSEWOOD SUITES  SINGAPORE 737875

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

INTERNATIONAL BUSINESS NETWORKS PTE. LTD.

DIRECTOR

07/01/2011

200000

100.00

2

IT AND NETSOFT SYSTEMS PTE. LTD.

DIRECTOR

18/03/2011

-

-

3

PIXEL AUTOMATION PTE. LTD.

DIRECTOR

18/01/2011

200000

40.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

INTERNATIONAL BUSINESS NETWORKS

TERMINATION

OWNER

22/04/2006

-

 

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 (%)

 

PIXEL AUTOMATION PTE. LTD.

60

                                                                                                                       

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201212958

 

Date of Registration

:

08/11/2012

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

Clear

 

COMPLIANCE

 

Date of Last AGM

:

22/06/2012

Date of Last AR

:

02/07/2012

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

Group

 

DEC 2011

Currency

SGD - SIN

Profit and Loss Key Figures

 

Turnover

6,430,150

Profit/(Loss) Before Tax

186,979

Profit After Tax attributable to Shareholders

180,398

 

 

Balance Sheet Key Figures

 

Total Assets

1,838,626

Current Assets

1,040,985

Non Current Assets

797,641

 

 

Total Liabilities

1,374,966

Current Liabilities

815,079

Non Current Liabilities

559,887

 

 

Shareholders' Funds

463,661

Share Capital

193,682

Total Reserves

269,979

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2011

Growth %

 

Year-on-Year Growth

NA

 

 

Profitability

 

Profit Margin (%)

2.81

Return on Equity (%)

38.91

Return on Assets (%)

9.81

 

 

Leverage

 

Total Debt/Equity (Times)

2.97

Current Debt/Equity (Times)

1.76

Long Term Debt To Equity (Times)

1.21

Total Asset To Total Equity (Times)

3.97

 

 

Asset Management

 

Total Assets Turnover (Times)

3.50

Fixed Assets Turnover (Times)

8.06

 

 

Liquidity

 

Current Ratio (Times)

1.28

 

FINANCIAL COMMENTARY

 

 

Profitability

The group yielded a rate of net profit on sales of 2.81 per cent in FY11. The group is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.28 times in FY11. This means that the group has SGD - SIN 1.28 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.

 

Leverage

Total debt-to-equity ratio notched 2.97 times in FY11. This means that the group requires additional external financing of SGD - SIN 2.97 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 38.91 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 9.81 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 3.50 times in FY11. 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.59.35

UK Pound

1

Rs.92.11

Euro

1

Rs.78.59

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.