|
|
|
MIRA INFORM REPORT
|
Report No. : |
515795 |
|
Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
GS TECHNOLOGY PTE LTD |
|
|
|
|
Formerly Known As : |
GLORIA (S) PTE LTD (01/07/1993) |
|
|
|
|
Registered Office : |
5012, Ang Mo Kio Avenue 5, 05-05, Techplace Ii,
569876 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
04.12.1991 |
|
|
|
|
Com. Reg. No.: |
199106049N |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the (as a /
as an) trading of electronic components. |
|
|
|
|
No. of Employees : |
18 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Unemployment is very low. The economy depends heavily on
exports, particularly of electronics, petroleum products, chemicals, medical
and optical devices, pharmaceuticals, and on Singapore’s vibrant
transportation, business, and financial services sectors.
The economy contracted
0.6% in 2009 as a result of the global financial crisis, but has continued to
grow since 2010. Growth from 2012-2017 was slower than during the previous
decade, a result of slowing structural growth - as Singapore reached
high-income levels - and soft global demand for exports. Growth recovered to
3.6% in 2017 with a strengthening global economy.
The government is
attempting to restructure Singapore’s economy to reduce its dependence on
foreign labor, raise productivity growth, and increase wages amid slowing labor
force growth and an aging population. Singapore has attracted major investments
in advanced manufacturing, pharmaceuticals, and medical technology production
and will continue efforts to strengthen its position as Southeast Asia's
leading financial and technology hub. Singapore is a signatory of the
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),
and a party to the Regional Comprehensive Economic Partnership (RCEP)
negotiations with nine other ASEAN members plus Australia, China, India, Japan,
South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN
members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
199106049N |
|
COMPANY NAME |
: |
GS TECHNOLOGY PTE LTD |
|
FORMER NAME |
: |
GLORIA (S) PTE LTD
(01/07/1993) |
|
INCORPORATION DATE |
: |
04/12/1991 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE
(LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
5012, ANG MO KIO
AVENUE 5, 05-05, TECHPLACE II, 569876, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
BLOCK 5012, ANG MO KIO
AVENUE 5, 05-05, TECHPLACE II, 569876, SINGAPORE. |
|
TEL.NO. |
: |
65-64832920 |
|
FAX.NO. |
: |
65-64832930 |
|
EMAIL |
: |
ANDYSOH@GSTEC.COM.SG |
|
WEB SITE |
: |
WWW.GSTEC.COM.SG |
|
CONTACT PERSON |
: |
SOH CHENG HWEE (
DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF ELECTRONIC
COMPONENTS |
|
ISSUED AND PAID UP
CAPITAL |
: |
100,000.00 ORDINARY
SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
BANKER (S) |
CITIBANK N.A. |
|
|
STAFF STRENGTH |
: |
18 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY / BACKGROUND
The Subject is an exempt private company whose shares are
not held by any corporate body and has no more than 20 shareholders who are all
natural persons. An exempt company is a type of private limited company. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, suing or be sued by other companies.
An exempt private company with an annual turnover of ≤
SGD10 million, or total assets ≤ SGD10 million or number of employees ≤
50 (meet at least 2 criteria for immediate past two financial years) are
exempted from statutory auditing requirements. The Subject is not required to
have their accounts audited. However, the Subject will prepare unaudited
accounts for purposes of AGMs and filing with Registry Office if it is unable
to meet all its obligations as and when they fall due.
An exempt private company with an annual turnover of more
than SGD10 million, or total assets more than SGD10 million or number of
employees more than 50 (meet at least 2 criteria for immediate past two
financial years) are required to file the audited financial.
The Subject is principally engaged in the (as a / as an)
trading of electronic components.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
20/06/2018 |
SGD 100,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
LEE AH WHATT + |
66, EDGEDALE PLAINS,
13-29, RIVER ISLES, 828732, SINGAPORE. |
S1332583I |
48,000.00 |
48.00 |
|
WONG HUAT CHEONG + |
40, KOVAN RISE,
14-23, KOVAN REGENCY, 544728, SINGAPORE. |
S1697278I |
18,000.00 |
18.00 |
|
GOH HONG HUAY + |
525, JURONG WEST
STREET 52, 07-283, 640525, SINGAPORE. |
S2058673G |
10,000.00 |
10.00 |
|
ANNA CHUA MEE NA |
228, SERANGOON AVENUE
4, 08-59 550228 ,SINGAPORE |
S1777420D |
24,000.00 |
24.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
SOH CHENG HWEE |
|
Address |
: |
103, KING'S ROAD,
268148, SINGAPORE. |
|
IC / PP No |
: |
S1491231B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/10/2006 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
NTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199106049N |
GS TECHNOLOGY PTE LTD |
Director |
04/10/2006 |
0.00 |
- |
SGD445,076.00 |
2010 |
- |
20/06/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
GOH HONG HUAY |
|
Address |
: |
525, JURONG WEST
STREET 52, 07-283, 640525, SINGAPORE. |
|
IC / PP No |
: |
S2058673G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
27/01/1995 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
NTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199106049N |
GS TECHNOLOGY PTE LTD |
Director |
27/01/1995 |
10,000.00 |
10.00 |
SGD445,076.00 |
2010 |
- |
20/06/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
WONG HUAT CHEONG |
|
Address |
: |
40, KOVAN RISE,
14-23, KOVAN REGENCY, 544728, SINGAPORE. |
|
Other Address(es) |
: |
21, PALM GROVE
AVENUE, 04-22, 547320, SINGAPORE. |
|
IC / PP No |
: |
S1697278I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/10/1992 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199106049N |
GS TECHNOLOGY PTE LTD |
Director |
30/10/1992 |
18,000.00 |
18.00 |
SGD445,076.00 |
2010 |
- |
20/06/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
LEE AH WHATT |
|
Address |
: |
66, EDGEDALE PLAINS,
13-29, RIVER ISLES, 828732, SINGAPORE. |
|
Other Address(es) |
: |
- 6, TAMPINES STREET
73, 12-03, PINEVALE, 528825, SINGAPORE. - APT.BLK 201, YISHUN
STREET 21, #10-71,SINGAPORE 2776. |
|
IC / PP No |
: |
S1332583I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/12/1991 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199106049N |
GS TECHNOLOGY PTE LTD |
Director |
04/12/1991 |
48,000.00 |
48.00 |
SGD445,076.00 |
2010 |
- |
20/06/2018 |
MANAGEMENT
|
1) |
Name of Subject |
: |
SOH CHENG HWEE |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
Auditor |
: |
TAN KIAN TIN &
CO. |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
No company secretary was found in our databank.
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
CITIBANK N.A. |
|
2) |
Name |
: |
CITIBANK SINGAPORE
LIMITED |
|
3) |
Name |
: |
KEPPEL BANK OF
SINGAPORE LTD |
|
4) |
Name |
: |
KEPPEL TATLEE BANK
LTD |
ENCUMBRANCE (S)
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
199801026 |
21/02/1998 |
N/A |
OCBC PEARL LIMITED |
- |
Unsatisfied |
|
199801027 |
21/02/1998 |
N/A |
OCBC PEARL LIMITED |
- |
Unsatisfied |
|
200104103 |
25/08/2001 |
N/A |
OCBC PEARL LIMITED |
- |
Unsatisfied |
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
JAPAN,SWITZERLAND |
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods Traded |
: |
ELECTRONIC COMPONENTS |
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
18 |
18 |
18 |
18 |
17 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of electronic
components.
The Subject is distributor in the passive and active electronics components
circuit market.
The Subject's team knew that making quick responses to changing customer needs,
technological innovations, and trends in the market and pricing are vital to
success as a distributor.
The Subject sells the products based on customer's demands and
requirement.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the
Subject indicated that :
|
Telephone Number
Provided By Client |
: |
65-64832920 |
|
Current Telephone
Number |
: |
65-64832920 |
|
Match |
: |
YES |
|
Address Provided by
Client |
: |
BLK 5012 ANG MO KIO
AVE 5 TECHPLACE II #05-05,-569876 SINGAPORE |
|
Current Address |
: |
BLOCK 5012, ANG MO
KIO AVENUE 5, 05-05, TECHPLACE II, 569876, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 22nd June 2018, we have contacted one of the staff from the Subject and she
provided some information.
FINANCIAL ANALYSIS
An exempt private
company with an annual turnover of ≤ SGD10 million, or total assets ≤
SGD10 million or number of employees ≤ 50 (meet at least 2 criteria for
immediate past two financial years) are exempted from statutory auditing requirements.
The Subject is not required to have their accounts audited. However, the
Subject will prepare unaudited accounts for purposes of AGMs and filing with
Registry Office if it is unable to meet all its obligations as and when they
fall due.
An exempt private company with an annual turnover of more than SGD10 million,
or total assets more than SGD10 million or number of employees more than 50
(meet at least 2 criteria for immediate past two financial years) are required
to file the audited financial.
Overall financial condition of the Subject : N/A
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic
Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports
(Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports
(Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival
(Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate
(%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber
(Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New
Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New
Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of
Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of
Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New
Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New
Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of
Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of
Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders
(No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges
(No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges
(%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of
Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply &
Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages &
Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products
& Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood
Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper
Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical &
Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical
Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic
Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal
Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery &
Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas
& Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage
& Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance &
Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate /
Preliminary |
|||||
|
# Based on Index of
Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS
|
INDUSTRY : |
TRADING |
|
According to the
Ministry of Trade and Industry, the wholesale & retail trade sector
expanded to 3.0% in the fourth quarter of 2017, moderating from the 3.3%
growth in the previous quarter. The wholesale trade segment was boosted by an
improvement in foreign wholesale sales volume, which more than offset the
weakness in domestic wholesale sales volume. For the whole of 2017, the
sector expanded by 2.3%, faster than the 1.0% growth in 2016. The improvement
in growth can be attributed to the wholesale segment. |
|
|
The domestic
wholesale sales volume fell by 1.1% in the fourth quarter 2017, reversing the
2.0% growth in the preceding quarter. The poorer outturn was led by declines
in the sales volume of household equipment & furniture (-27%) and general
wholesale merchandise (-19%), which outweighed the increase in the sales
volume of telecommunications & computers (20%). For the whole of 2017,
the domestic wholesale trade index expanded by 1.0%, a turnaround from the
2.7% decline in 2016. |
|
|
On the other hand,
foreign wholesale sales volume rose to 6.2% in the fourth quarter 2017, a
step-up from the 5.1% growth in the preceding quarter. Growth was driven by
expansions in the sales of petroleum & petroleum-related products (11%t),
telecommunications & computers (19%) and electronic components (16%).
However, growth was partly offset by a 20% decline in the sales volume of
metals, timber & construction materials. For the full year 2017, the
foreign wholesale trade index rose by 3.6%, faster than the increase of 1.5%
in the previous year. |
|
|
Besides, retail sales
volume rose by 2.1% in the fourth quarter 2017, improving from the 0.9%
growth recorded in the third quarter. Growth was supported by improvements in
both motor vehicle and non-motor vehicle sales volumes. While motor vehicle
sales benefitted from an on-year increase in COE supply, growth in non-motor
vehicle sales came on the back of an improvement in consumer sentiments.
Notably, the sales volume of discretionary goods such as recreational goods,
computer & telecommunication equipment and wearing apparel & footwear
grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For the full year
2017, retail sales volume expanded by 1.3%, similar to the 1.5% growth
recorded in 2016. Growth was driven by both motor vehicle sales and non-motor
vehicle sales, which the former rising by 1.5% and the latter increasing by
1.3%. The rise in non-motor vehicle sales was underpinned by higher sales of
discretionary goods. For instance, the sales volume of recreational goods
(3.9%), watches & jewellery (2.4%), computer & telecommunications
equipment (1.7%) and wearing apparel & footwear (1.5%) improved in 2017. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1991, the Subject is an Exempt Private company, focusing
on trading of electronic components. Having been in the industry for over two
decades, the Subject has achieved a certain market share and has built up a
satisfactory reputation in the market. Being a small company with an issued
and a paid up capital of SGD 100,000 contributed from individual
shareholders, the Subject does not have strong shareholders' backing. Without
a strong backing, the Subject may face difficulties in its attempt to further
expand its business in the future. |
FINANCIALS
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
GS TECHNOLOGY PTE LTD |
Note : The Subject is an Exempt Private Company and
it is not required by law to file its financials for public view. The below
financials are the last financial that submitted by the Subject to the
Registrar before changed to Exempt Private Company.
|
Financial Year End |
2010-03-31 |
2009-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
|
TURNOVER |
26,119,455 |
26,616,962 |
|
---------------- |
---------------- |
|
|
Total Turnover |
26,119,455 |
26,616,962 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM
OPERATIONS |
485,689 |
1,106,455 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
TAXATION |
485,689 |
1,106,455 |
|
Taxation |
(40,613) |
(171,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER
TAXATION |
445,076 |
935,455 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
EXTRAORDINARY ITEMS |
445,076 |
935,455 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
445,076 |
935,455 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
6,771,812 |
5,836,357 |
|
---------------- |
---------------- |
|
|
As restated |
6,771,812 |
5,836,357 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
7,216,888 |
6,771,812 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
7,216,888 |
6,771,812 |
|
============= |
============= |
|
BALANCE SHEET
|
GS TECHNOLOGY PTE LTD |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
639,958 |
686,853 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
639,958 |
686,853 |
|
CURRENT ASSETS |
||
|
TOTAL CURRENT ASSETS |
17,543,394 |
15,755,464 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
18,183,352 |
16,442,317 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
TOTAL CURRENT
LIABILITIES |
10,865,274 |
9,569,315 |
|
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
6,678,120 |
6,186,149 |
|
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||
|
TOTAL LONG TERM
LIABILITIES |
1,190 |
1,190 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
7,318,078 |
6,873,002 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share
capital |
100,000 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
|
RESERVES |
||
|
Retained
profit/(loss) carried forward |
7,216,888 |
6,771,812 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
7,216,888 |
6,771,812 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
7,316,888 |
6,871,812 |
|
============= |
============= |
|
FINANCIAL RATIO
|
GS TECHNOLOGY PTE LTD |
|
TYPES OF FUNDS |
||
|
Net Liquid Assets |
6,678,120 |
6,186,149 |
|
Net Current
Assets/(Liabilities) |
6,678,120 |
6,186,149 |
|
Net Tangible Assets |
7,318,078 |
6,873,002 |
|
Net Monetary Assets |
6,676,930 |
6,184,959 |
|
BALANCE SHEET ITEMS |
||
|
Total Liabilities |
10,866,464 |
9,570,505 |
|
Total Assets |
18,183,352 |
16,442,317 |
|
Net Assets |
7,318,078 |
6,873,002 |
|
Net Assets Backing |
7,316,888 |
6,871,812 |
|
Shareholders' Funds |
7,316,888 |
6,871,812 |
|
Total Share Capital |
100,000 |
100,000 |
|
Total Reserves |
7,216,888 |
6,771,812 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
(1.87) |
- |
|
Proft/(Loss) Before
Tax |
(56.10) |
- |
|
Proft/(Loss) After
Tax |
(52.42) |
- |
|
Total Assets |
10.59 |
- |
|
Total Liabilities |
13.54 |
- |
|
LIQUIDITY (Times) |
||
|
Current Ratio |
1.61 |
1.65 |
|
SOLVENCY RATIOS (Times) |
||
|
Liabilities Ratio |
1.49 |
1.39 |
|
Assets Backing Ratio |
73.18 |
68.73 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit
Margin |
1.86 |
4.16 |
|
Net Profit Margin |
1.70 |
3.51 |
|
Return On Net Assets |
6.64 |
16.10 |
|
Return On Capital
Employed |
6.64 |
16.10 |
|
Return On
Shareholders' Funds/Equity |
6.08 |
13.61 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.77 |
|
UK Pound |
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
|
SGD |
1 |
INR 49.96 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.