MIRA INFORM REPORT

Report Date :

26.06.2013

IDENTIFICATION DETAILS

Name :	NIPPON ELEVATOR (SINGAPORE) PTE. LTD.
Registered Office :	143 Cecil Street #08-01 Gb Building Singapore 069542
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	26.07.2010
Com. Reg. No.:	201015749N
Legal Form :	Limited Private Company
Line of Business :	· General Wholesale Trade (Including General Importers and Exporters) · Trade and Distribution of Elevator Products
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow and Delayed
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 hu

Source : CIA

Company Name:	Registered Number:
NIPPON ELEVATOR (SINGAPORE) PTE. LTD.	201015749N

Date Incorporated:	Registered Office:	Telephone Number:
26/07/2010	143 CECIL STREET #08-01 GB BUILDING SINGAPORE 069542	NA
Age of Company:	Website:	Industry Type:
3	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
23

Directors		Corporate Structure
Number of Current Directors	2	Holding Company:	SOLID TAIPAN HOLDINGS SDN. BHD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	NIPPON ELEVATOR (SINGAPORE) PTE. LTD.
Registration No	:	201015749N
Date of Registration	:	26/07/2010
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	143 CECIL STREET #08-01 GB BUILDING SINGAPORE 069542
Date of Change of Address	:	01/04/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) TRADE AND DISTRIBUTION OF ELEVATOR PRODUCTS
Issued Ordinary Capital*	:	$10,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 10,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,000.00 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	:	NG, LEE & ASSOCIATES - DFK
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 0.00 (FY2011)
Net Worth	:	SGD - SIN 4,696.00 (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	:	SOLID TAIPAN HOLDINGS SDN. BHD.
SHAREHOLDER ID	:	T10UF0667J
NATIONALITY	:	MALAYSIA
ADDRESS	:	35, 1ST FLOOR, JALAN KELISA EMAS 1, TAMAN KELISA EMAS 13700 SEBERANG JAYA, PENANG, MALAYSIA
NO. OF ORD SHARES	:	10,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	NEOH BEE LEE
ADDRESS	:	143 CECIL STREET #08-01 GB BUILDING SINGAPORE 069542
POSITION	:	DIRECTOR
DATE OF APPT	:	30/11/2011
NATIONALITY	:	MALAYSIAN
I/C PASSPORT	:	F8452563N
NAME	:		CHIN CHUNG CHIEN
ADDRESS	:		143 CECIL STREET #08-01 GB BUILDING SINGAPORE 069542
POSITION	:		DIRECTOR
DATE OF APPT	:		26/07/2010
NATIONALITY	:		MALAYSIAN
I/C PASSPORT	:		G5797900W
NAME	:		ALISON SEE LAY ENG
ADDRESS	:		218 ANG MO KIO AVENUE 1 #08-909 SINGAPORE 560218
POSITION	:		SECRETARY
DATE OF APPT	:		26/07/2010
NATIONALITY	:		SINGAPORE CITIZEN
I/C PASSPORT	:		S2092542F
NAME	:		YEW BEE TIN
ADDRESS	:		64 LORONG 5 TOA PAYOH #04-346 SINGAPORE 310064
POSITION	:		SECRETARY
DATE OF APPT	:		26/07/2010
NATIONALITY	:		SINGAPORE CITIZEN
I/C PASSPORT	:		S7134571H

KEY PERSONNEL PROFILE

Name:	CHIN CHUNG CHIEN
NRIC Number:	G5797900W
Available Address:	143 CECIL STREET #08-01 GB BUILDING SINGAPORE 69542

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BOYD EMILY & COMPANY (SINGAPORE) PTE. LTD.	DIRECTOR	28/02/2012	-	-
2	BOYD EMILY & COMPANY (SINGAPORE) PTE. LTD.	MANAGING DIRECTOR	28/02/2012	-	-
3	BOYD EMILY & COMPANY (SINGAPORE) PTE. LTD.	DIRECTOR	-	5000	50.00
4	BOYD EMILY & COMPANY (SINGAPORE) PTE. LTD.	MANAGING DIRECTOR	-	5000	50.00
5	FUJI ELEVATOR (SINGAPORE) PTE. LTD.	DIRECTOR	04/01/2005	-	-
6	NIPPON ELEVATOR (SINGAPORE) PTE. LTD.	DIRECTOR	26/07/2010	-	-
7	NIPPON LIFT CORPORATION PRIVATE LIMITED	DIRECTOR	14/03/2013	260	26.00

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	:	26/01/2012
Date of Last AR	:	23/02/2012
Date of A/C Laid At Last AGM	:	31/12/2011

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
	DEC 2011
Currency	SGD-SIN
Profit and Loss Key Figures
Turnover	0
Profit/(Loss) Before Tax	(5,304)
Profit After Tax attributable to Shareholders	(5,304)
Balance Sheet Key Figures
Total Assets	10,000
Current Assets	10,000
Non Current Assets	0
Total Liabilities	5,304
Current Liabilities	5,304
Non Current Liabilities	0
Shareholders' Funds	4,696
Share Capital	10,000
Total Reserves	(5,304)

FINANCIAL RATIOS

	Company
	DEC 2011
Growth %
Year-on-Year Growth	NA
Profitability
Profit Margin (%)	0.00
Return on Equity (%)	-112.95
Return on Assets (%)	-53.04
Leverage
Total Debt/Equity (Times)	1.13
Current Debt/Equity (Times)	1.13
Long Term Debt To Equity (Times)	0.00
Total Asset To Total Equity (Times)	2.13
Asset Management
Total Assets Turnover (Times)	0.00
Fixed Assets Turnover (Times)	0.00
Liquidity
Current Ratio (Times)	1.89

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 1.89 times in FY11. This means that the company has SGD - SIN 1.89 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 1.13 times in FY11. This means that the company requires additional external financing of SGD - SIN 1.13 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.

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.70
UK Pound	1	Rs.92.25
Euro	1	Rs.78.38

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.