MIRA INFORM REPORT

 

 

Report Date :

20.05.2013

 

IDENTIFICATION DETAILS

 

Name :

KALF ENGINEERING PTE. LTD.

 

 

Registered Office :

10 Science Park Road #03-03 Alpha, The Singapore 117684

 

 

Country :

Singapore

 

 

Financials (as on) :

November, 2010

 

 

Date of Incorporation :

12.12.2008

 

 

Com. Reg. No.:

200823022Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture and Repair of Water/Waste Water Treatment Equipment

 

 

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

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:

KALF ENGINEERING PTE. LTD.

200823022Z

 

Date Incorporated:

Registered Office:

Telephone Number:

12/12/2008

10 SCIENCE PARK ROAD #03-03 ALPHA, THE SINGAPORE 117684

NA

Age of Company:

Website:

Industry Type:

5

NA

NA

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

0

90

Worse off than last month; last month the entity took 73 days to pay

No. of Charges(s):
0

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

4

No. of Subsidiaries & Associated Companies:

NA

Company name

 

KALF ENGINEERING PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

KALF ENGINEERING PTE. LTD.

Registration No

:

200823022Z

Date of Registration

:

12/12/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

10 SCIENCE PARK ROAD #03-03 ALPHA, THE SINGAPORE 117684

Date of Change of Address

:

01/10/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

MANUFACTURE AND REPAIR OF WATER/WASTE WATER TREATMENT EQUIPMENT

SUPPLY OF ENVIRONMENTALLY-FRIENDLY, ELECTROLYTIC WATER DISINFECTION SYSTEM

Issued Ordinary Capital*

:

$749,500.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,025,862

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$749,500.00 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

:

NA

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SGD - SIN 176,622.00 (FY2010)

Net Worth

:

SGD - SIN (16,119.00) (FY2010)

No. of Bank Charges

:

0

No. of Litigation Suits

:

0

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

FULL CITY INVESTMENTS LIMITED

SHAREHOLDER ID

:

T12UF3131B

NATIONALITY

:

NA

ADDRESS

:

P. O. BOX 957, OFFSHORE INCORPORATIONS CENTRE, ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS.

NO. OF ORD SHARES

:

400,086

% OF SHAREHOLDING

:

39%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ZHENG HAIQIANG

SHAREHOLDER ID

:

S7867514D

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

510A WELLINGTON CIRCLE #04-61 WELLINGTON VIEW SINGAPORE 751510

NO. OF ORD SHARES

:

307,758

% OF SHAREHOLDING

:

30%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TEO KIM ANN

SHAREHOLDER ID

:

S7040459A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

755 YISHUN STREET 72 #05-250 SINGAPORE 760755

NO. OF ORD SHARES

:

287,242

% OF SHAREHOLDING

:

28%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOH MENG CHONG, STANLEY

SHAREHOLDER ID

:

S1817464B

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

78 BAYSHORE ROAD #15-24 COSTA DEL SOL SINGAPORE 469991

NO. OF ORD SHARES

:

30,776

% OF SHAREHOLDING

:

3%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHAN WAI YUEN

ADDRESS

:

120 MCNAIR ROAD #07-83 SINGAPORE 320120

POSITION

:

SECRETARY

DATE OF APPT

:

12/12/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0137210F

 

NAME

:

LUONG ANDY

ADDRESS

:

71 DALVEY ROAD SINGAPORE 259509

POSITION

:

DIRECTOR

DATE OF APPT

:

10/08/2012

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2683477E

 

NAME

:

TEO KIM ANN

ADDRESS

:

755 YISHUN STREET 72 #05-250 SINGAPORE 760755

POSITION

:

DIRECTOR

DATE OF APPT

:

25/04/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7040459A

 

NAME

:

ZHENG HAIQIANG

ADDRESS

:

510A WELLINGTON CIRCLE #04-61 WELLINGTON VIEW SINGAPORE 751510

POSITION

:

DIRECTOR

DATE OF APPT

:

15/03/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7867514D

 

 

KEY PERSONNEL PROFILE

 

Name:

ZHENG HAIQIANG

NRIC Number:

S7867514D

Available Address:

510A WELLINGTON CIRCLE #04-61 WELLINGTON VIEW  SINGAPORE 751510

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

KALF ENGINEERING PTE. LTD.

DIRECTOR

15/03/2011

307758

29.99

 

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201106948

 

Date of Registration

:

09/06/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

To date, there have been 1 litigation suit filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

8933

 

Transfer

:

-

 

Date of Filing

:

03/04/2012

 

Amount

:

20,493.00

 

Cause

:

Contract - Sale Of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ADL CONTROL (S) PTE. LTD.

 

Last Update Date

:

12/12/2012

 

 

COMPLIANCE

 

Date of Last AGM

:

31/05/2011

Date of Last AR

:

08/06/2011

Date of A/C Laid At Last AGM

:

30/11/2010

 

 

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

 

NOV 2010

% Change

NOV 2009

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

176,622

949.63

16,827

Profit/(Loss) Before Tax

(29,164)

NA

12,945

Profit After Tax attributable

 to Shareholders

(29,164)

NA

12,945

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

60,827

334.63

13,995

Current Assets

36,427

160.29

13,995

Non Current Assets

24,400

NA

0

 

 

 

 

Total Liabilities

76,946

7,999.58

950

Current Liabilities

61,764

6,401.47

950

Non Current Liabilities

15,182

NA

0

 

 

 

 

Shareholders' Funds

(16,119)

NA

13,045

Share Capital

100

0.00

100

Total Reserves

(16,219)

NA

12,945

 

 

FINANCIAL RATIOS 

 

 

Company

 

NOV 2010

NOV 2009

Growth %

 

 

Year-on-Year Growth

949.63

NA

 

 

 

Profitability

 

 

Profit Margin (%)

-16.51

76.93

Return on Equity (%)

180.93

99.23

Return on Assets (%)

-47.95

92.50

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

-4.77

0.07

Current Debt/Equity (Times)

0.00

0.07

Long Term Debt To Equity (Times)

0.00

0.00

Total Asset To Total Equity (Times)

-3.77

1.07

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

2.90

1.20

Fixed Assets Turnover (Times)

7.24

0.00

 

 

 

Liquidity

 

 

Current Ratio (Times)

0.59

14.73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 0.59 times in FY10 (FY09: 14.73 times). This means that the company has SGD - SIN 0.59 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

We are unable to comment on Subject's leverage.

 

Efficiency Ratio

 

Return on equity was 180.93 per cent for Subject in the current financial period, as compared to 99.23 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.

 

We are unable to comment on Subject's return on assets.

 

Total assets turnover ratio logged at 2.90 times in FY10 (FY09: 1.20 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.54.88

UK Pound

1

Rs.83.66

Euro

1

Rs.70.58

 

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.