MIRA INFORM REPORT

 

 

Report Date :

17.05.2013

 

IDENTIFICATION DETAILS

 

Name :

GOLD MATRIX RESOURCES PTE. LTD.

 

 

Registered Office :

101 Cecil Street #25-12 Tong Eng Building Singapore 069533

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

02.11.2004

 

 

Com. Reg. No.:

200414243H

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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:

GOLD MATRIX RESOURCES PTE. LTD.

200414243H

 

Date Incorporated:

Registered Office:

Telephone Number:

02/11/2004

101 CECIL STREET #25-12 TONG ENG BUILDING SINGAPORE 069533

6491 1100

Age of Company:

Website:

Industry Type:

9

www.goldmatrixresources.com

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

blank

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

36

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

SINO INVESTMENT GLOBAL LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

Company name

 

GOLD MATRIX RESOURCES PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

GOLD MATRIX RESOURCES PTE. LTD.

Registration No

:

200414243H

Date of Registration

:

02/11/2004

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

101 CECIL STREET #25-12 TONG ENG BUILDING SINGAPORE 069533

Date of Change of Address

:

14/09/2006

Contact No.

:

6491 1100

Fax No.

:

6220 0400

Website

:

www.goldmatrixresources.com

Registered Activities

:

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

2. OTHER INVESTMENT HOLDING COMPANIES

Issued Ordinary Capital*

:

$14,104,203.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 14,104,203

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$14,104,203.00 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

:

MGI N RAJAN ASSOCIATES

Bankers / Financiers

:

DBS BANK LTD.

AXIS BANK LIMITED SINGAPORE BRANCH

INDIAN OVERSEAS BANK

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

BANK OF INDIA

Turnover

:

SGD - SIN 723,089,482.00 (FY2012)

Net Worth

:

SGD - SIN 26,992,111.00 (FY2012)

No. of Bank Charges

:

0

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

666 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

640 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

729 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

27.11% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SINO INVESTMENT GLOBAL LIMITED

SHAREHOLDER ID

:

T05UF2059K

NATIONALITY

:

VIRGIN ISLANDS, BRITISH

ADDRESS

:

PALM GROVE HOUSE, P.O. BOX 438, ROAD TOWN TORTOLA, BRITISH VIRGIN ISLANDS

NO. OF ORD SHARES

:

14,104,203

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHAN KWANG CHENG

ADDRESS

:

28 MAR THOMA ROAD #10-01 SINGAPORE 328708

POSITION

:

SECRETARY

DATE OF APPT

:

31/05/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0011395F

 

NAME

:

LIM SAI BENG

ADDRESS

:

20 DOVER CRESCENT #12-314 SINGAPORE 130020

POSITION

:

DIRECTOR

DATE OF APPT

:

11/07/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0307980E

 

NAME

:

KHAW YIO LOK

ADDRESS

:

1E CANTONMENT ROAD #39-57 PINNACLE@DUXTON, THE SINGAPORE 085501

POSITION

:

 

SECRETARY

DATE OF APPT

:

 

29/09/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1311899Z

 

NAME

:

PINAKI RATH

ADDRESS

:

130 TANJONG RHU ROAD #17-09 PEBBLE BAY SINGAPORE 436918

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

30/08/2005

27/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6960871Z

 

 

KEY PERSONNEL PROFILE

 

Name:

PINAKI RATH

NRIC Number:

S6960871Z

Available Address:

130 TANJONG RHU ROAD #17-09 PEBBLE BAY  SINGAPORE 436918

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

GOLD MATRIX RESOURCES PTE. LTD.

MANAGING DIRECTOR

27/12/2005

-

NA

2

GOLD MATRIX RESOURCES PTE. LTD.

DIRECTOR

30/08/2005

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CHAMBERS GLOBAL PTE. LTD.

STRUCK OFF

DIRECTOR

26/01/2010

11/02/2011

 

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 have been 13 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201114915

 

Date of Registration

:

25/11/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C201114910

 

Date of Registration

:

25/11/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

3)

Charge No.

:

C201103266

 

Date of Registration

:

16/03/2011

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

4)

Charge No.

:

C201103262

 

Date of Registration

:

16/03/2011

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

5)

Charge No.

:

C201012306

 

Date of Registration

:

17/12/2010

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

6)

Charge No.

:

C201012305

 

Date of Registration

:

17/12/2010

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

7)

Charge No.

:

C201005957

 

Date of Registration

:

13/07/2010

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

 

 

 

 

 

8)

Charge No.

:

C200801558

 

Date of Registration

:

11/02/2008

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

9)

Charge No.

:

C200801557

 

Date of Registration

:

11/02/2008

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

10)

Charge No.

:

C200708741

 

Date of Registration

:

16/10/2007

 

Chargee

:

BANK OF INDIA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

138 ROBINSON ROAD #01-01/02-01/03-01 THE CORPORATE OFFICE SINGAPORE 068906

 

11)

Charge No.

:

C200708725

 

Date of Registration

:

16/10/2007

 

Chargee

:

BANK OF INDIA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

138 ROBINSON ROAD #01-01/02-01/03-01 THE CORPORATE OFFICE SINGAPORE 068906

 

12)

Charge No.

:

C200604511

 

Date of Registration

:

11/07/2006

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

 

13)

Charge No.

:

C200601594

 

Date of Registration

:

10/03/2006

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

25/09/2012

Date of Last AR

:

25/09/2012

Date of A/C Laid At Last AGM

:

31/03/2012

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

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

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

723,089,482

17.06

617,712,830

369,519,611

293,531,860

277,034,917

Profit/(Loss) Before Tax

5,239,438

-14.09

6,098,880

2,894,357

458,259

2,169,748

Profit After Tax attributable

 to Shareholders

4,699,574

-14.40

5,489,948

2,561,630

378,336

1,930,551

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

191,202,986

-29.47

271,080,741

100,311,731

39,559,331

44,643,753

Current Assets

160,731,852

-29.09

226,672,843

99,512,114

38,545,010

43,402,010

Non Current Assets

30,471,134

-31.38

44,407,898

799,617

1,014,321

1,241,743

 

 

 

 

 

 

 

Total Liabilities

164,210,874

-33.63

247,416,081

90,783,550

32,508,661

37,398,323

Current Liabilities

138,115,825

-28.89

194,233,445

90,749,100

32,439,803

37,282,261

Non Current Liabilities

26,095,049

-50.93

53,182,636

34,450

68,858

116,062

 

 

 

 

 

 

 

Shareholders' Funds

26,992,111

14.06

23,664,660

9,528,182

7,050,670

7,245,430

Share Capital

12,525,710

-5.80

13,296,677

4,293,323

4,345,163

4,429,891

Total Reserves

14,466,401

39.53

10,367,983

5,234,859

2,705,507

2,815,539

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

17.06

67.17

25.89

5.95

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.65

0.89

0.69

0.13

0.70

Return on Equity (%)

17.41

23.20

26.88

5.37

26.65

Return on Assets (%)

2.46

2.03

2.55

0.96

4.32

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

6.08

10.46

9.53

4.61

5.16

Current Debt/Equity (Times)

5.12

8.21

9.52

4.60

5.15

Long Term Debt To Equity (Times)

0.97

2.25

0.00

0.01

0.02

Total Asset To Total Equity (Times)

7.08

11.46

10.53

5.61

6.16

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.78

2.28

3.68

7.42

6.21

Fixed Assets Turnover (Times)

23.73

13.91

462.12

289.39

223.10

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.16

1.17

1.10

1.19

1.16

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 27.11% (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 0.65 per cent in FY12 (FY11: 0.89 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.16 times in FY12 (FY11: 1.17 times). This means that the company has SGD - SIN 1.16 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 6.08 times in FY12, compared with 10.46 times in FY11. This means that the company requires additional external financing of SGD - SIN 6.08 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 17.41 per cent for Subject in the current financial period, as compared to 23.20 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 2.46 per cent (FY11: 2.03 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 3.78 times in FY12 (FY11: 2.28 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.54.77

UK Pound

1

Rs.83.31

Euro

1

Rs.70.46

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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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