MIRA INFORM REPORT

Report Date :

29.05.2013

IDENTIFICATION DETAILS

Name :	THE VIKING CORPORATION (FAR EAST) PTE LTD
Registered Office :	69 Tuas View Square Westlink Techpark Singapore 637621
Country :	Singapore
Financials (as on) :	31.12.2011
Date of Incorporation :	07.06.1991
Com. Reg. No.:	199102685D
Legal Form :	Limited Private Company
Line of Business :	Retail Sale of Security and Fire-Fighting Equipment
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 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 hub.

Source : CIA

Company Name:	Registered Number:
THE VIKING CORPORATION (FAR EAST) PTE LTD	199102685D

Date Incorporated:	Registered Office:	Telephone Number:
07/06/1991	69 TUAS VIEW SQUARE WESTLINK TECHPARK SINGAPORE 637621	6278 4061
Age of Company:	Website:	Industry Type:
22	www.vikingcorp.com	SERVICES

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
405

Directors		Corporate Structure
Number of Current Directors	3	Holding Company:	MINIMAX INTERNATIONAL GMBH
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	THE VIKING CORPORATION (FAR EAST) PTE LTD
Registration No	:	199102685D
Date of Registration	:	07/06/1991
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	69 TUAS VIEW SQUARE WESTLINK TECHPARK SINGAPORE 637621
Date of Change of Address	:	15/11/2000
Contact No.	:	6278 4061
Fax No.	:	6278 4609
Website	:	www.vikingcorp.com
Registered Activities	:	1. INSTALLATION OF FIRE PROTECTION AND SECURITY ALARM SYSTEMS 2. RETAIL SALE OF SECURITY AND FIRE-FIGHTING EQUIPMENT
Issued Ordinary Capital*	:	$1,885,300.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,885,300
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,885,300.00 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	:	DELOITTE & TOUCHE LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 20,388,655.00 (FY2011)
Net Worth	:	SGD - SIN 11,778,894.00 (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)	:	5.27% (4 years)

SHAREHOLDER DETAILS

NAME	:	MINIMAX INTERNATIONAL GMBH
SHAREHOLDER ID	:	T10UF3621H
NATIONALITY	:	GERMANY
ADDRESS	:	INDUSTRIESTRASSE 10/12, D-23840 BAD OLDESLOE, DEUTSCHLAND
NO. OF ORD SHARES	:	1,885,300
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	SOHRAB ROB SALEK
ADDRESS	:	16899 CALLE DE SARAH, PACIFIC PALISADES CA 90272, U.S.A
POSITION	:	DIRECTOR
DATE OF APPT	:	31/01/2013
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	452067518
NAME	:	SOH FU MEEN MICHAEL
ADDRESS	:	2 LAKEPOINT DRIVE #10-06 LAKEPOINT CONDOMINIUM SINGAPORE 648923
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	01/07/1994 01/07/1994
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0125537A
NAME	:	GONG WEIBIN
ADDRESS	:	80 BAYSHORE ROAD #18-27 COSTA DEL SOL SINGAPORE 469992
POSITION	:	DIRECTOR
DATE OF APPT	:	22/11/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7067648F
NAME	:	LOH LI PING
ADDRESS	:	911 LORONG 1 TOA PAYOH #03-03 OLEANDER TOWERS SINGAPORE 319771
POSITION	:	SECRETARY
DATE OF APPT	:	01/08/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7625605E

KEY PERSONNEL PROFILE

Name:	SOH FU MEEN MICHAEL
NRIC Number:	S0125537A
Available Address:	2 LAKEPOINT DRIVE #10-06 LAKEPOINT CONDOMINIUM SINGAPORE 648923

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	THE VIKING CORPORATION (FAR EAST) PTE LTD	DIRECTOR	01/07/1994	-	NA
2	THE VIKING CORPORATION (FAR EAST) PTE LTD	MANAGING DIRECTOR	01/07/1994	-	NA

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	:	26/06/2012
Date of Last AR	:	18/07/2012
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	Company
	DEC 2011	% Change	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	20,388,655	5.61	19,305,421	18,061,264	19,607,478	16,602,636
Profit/(Loss) Before Tax	1,938,681	52.38	1,272,254	1,064,119	1,665,673	801,419
Profit After Tax attributable to Shareholders	1,609,105	52.38	1,055,971	843,654	1,383,096	646,233
Balance Sheet Key Figures
Total Assets	13,948,867	17.26	11,895,243	13,955,713	16,240,466	12,091,901
Current Assets	10,321,897	26.24	8,176,652	10,148,370	12,319,714	8,088,395
Non Current Assets	3,626,970	-2.46	3,718,591	3,807,343	3,920,752	4,003,506
Total Liabilities	2,169,973	25.76	1,725,454	4,841,895	7,970,302	5,204,833
Current Liabilities	2,169,973	25.76	1,725,454	4,841,895	7,870,310	4,814,345
Non Current Liabilities	0	NA	0	0	99,992	390,488
Shareholders' Funds	11,778,894	15.82	10,169,789	9,113,818	8,270,164	6,887,068
Share Capital	1,885,300	0.00	1,885,300	1,885,300	1,885,300	1,885,300
Total Reserves	9,893,594	19.42	8,284,489	7,228,518	6,384,864	5,001,768

FINANCIAL RATIOS

	Company
	DEC 2011	DEC 2010	DEC 2009	DEC 2008	DEC 2007
Growth %
Year-on-Year Growth	5.61	6.89	-7.89	18.10	NA
Profitability
Profit Margin (%)	7.89	5.47	4.67	7.05	3.89
Return on Equity (%)	13.66	10.38	9.26	16.72	9.38
Return on Assets (%)	11.54	8.88	6.05	8.52	5.34
Leverage
Total Debt/Equity (Times)	0.18	0.17	0.53	0.96	0.76
Current Debt/Equity (Times)	0.18	0.17	0.53	0.95	0.70
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.01	0.06
Total Asset To Total Equity (Times)	1.18	1.17	1.53	1.96	1.76
Asset Management
Total Assets Turnover (Times)	1.46	1.62	1.29	1.21	1.37
Fixed Assets Turnover (Times)	5.62	5.19	4.74	5.00	4.15
Liquidity
Current Ratio (Times)	4.76	4.74	2.10	1.57	1.68

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 5.27% (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 7.89 per cent in FY11 (FY10: 5.47 per cent). The company is now able to book in SGD - SIN 0.08 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

Liquidity

Current ratio stood at 4.76 times in FY11 (FY10: 4.74 times). This means that the company has SGD - SIN 4.76 of current assets for every SGD - SIN of current liability incurred.

FINANCIAL COMMENTARY

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 0.18 times in FY11, compared with 0.17 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.18 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 13.66 per cent for Subject in the current financial period, as compared to 10.38 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 11.54 per cent (FY10: 8.88 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

FINANCIAL COMMENTARY

Total assets turnover ratio logged at 1.46 times in FY11 (FY10: 1.62 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.55.74
UK Pound	1	Rs.84.17
Euro	1	Rs.72.02

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
s71-85	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.