MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
KERRY ( |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.05.1986 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers of industrial bulk sugar,
vegetable oils, sultanas, raisins, dates, desiccated coconut, currants and
rice. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REGISTERED NAME
KERRY (
Company Number
305737
Company
KERRY (
Incorporated
14-MAY-1986
Current Status
REGISTERED
Entity
Type
Company
Constitution
Filed
Yes
Annual Return Filing
Month
June
Previous Names
(Names changed prior to 1992 may not be recorded)
No Previous Names
on record
Address Details
Registered
Office
Mt Wellington
Address for
Service
Mt Wellington
Address for
Share Register
Mt Wellington
Address for -
AccountingFinance
Mt Wellington
Directors
(Where appointments
are prior to February 1993 the date shown may relate to when the information
was entered on this database.)
Name Date
Appointed:
CHAI, Hoong Fah
Karen 01-FEB-2005
KWOK, Kian Hai 03-APR-1992
9 Caldecott Close,
Singapore299117
ROSS, Matthew Robin
12-MAY-2006
SPENCE, Hugh Oliver 03-APR-1992
Total Number of
shares 750,000
Number of Shares 562,500
Shareholder(s) KOG
INVESTMENTS PTE LIMITED
1 Kim Seng Promenade,
Number of Shares 187,499
Shareholder(s) 659711
- SPENCE FAMILY COMPANY LIMITED
Number of Shares 1
Shareholder(s) SPENCE,
HUGHBERT OLIVER
BUSINESS STRUCTURE
TRADING ADDRESS
ELLERSLIE,
TELEPHONE (649) 525 4585
FACSIMILE (649) 525 8827
BRANCH
HOLDING ENTITY
KOG INVESTMENTS PTE LTD -
ULTIMATE HOLDING
ENTITY
KUOK (
CONTROLLED ENTITIES
KNZ
WARLAN SERVICES
P/L
ASSOCIATED ENTITIES
TOP TRANZ LIMITED
BANK
ANZ BANKING GRUP
EMPLOYEES
Not determined
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates as importers of
industrial bulk sugar, vegetable oils, sultanas, raisins, dates, desiccated
coconut, currants and rice.
The subject products are marketed under Simply & Ritz labels.
Activities are conducted from premises located at the above listed trading address.
FINANCES
From the subjects most recently lodged financial statements, it is noted that for the financial year ended 31 December 2005 the subject recorded consolidated revenue of $166,800,553 which resulted in an operating profit before tax of $493,860 and an operating profit after tax of $371,776.
Below is a summary of the subject’s consolidated income results for the past two financial years.
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Kerry (New |
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As at 31
December 2005 |
As at 31
December 2004 |
Change (%) |
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Revenue |
$166,800,553 |
$192,170,203 |
-13.20% |
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Profit b/tax |
$493,860 |
$3,139,204 |
-84.27% |
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Profit a/tax |
$371,776 |
$2,119,975 |
-82.46% |
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Net Profit Margin |
0.22% |
1.10% |
-0.88% |
As at 31 December 2005, the subject recorded consolidated total current assets of $33,212,733. They included cash of $2,158,665, debtors of $19,366,468 and stock of $10,588,732.
Current liabilities at the same date totaled $27,037,899 and included payables of $7,704,715 and borrowings of $17,668,814.
As at 31 December 2005, the subject recorded consolidated Working Capital of $6,174,834 and a current ratio of 1.23 to 1 indicating satisfactory liquidity levels.
Net Assets totaled $17,628,815 as at 31 December 2005. At this date, the subject further recorded a Debt to Equity ratio of 1.53 to 1.
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Kerry (New |
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As at 31
December 2005 |
As at 31
December 2004 |
Change (%) |
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Revenue |
$166,800,553 |
$192,170,203 |
-13.20% |
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Profit b/tax |
$493,860 |
$3,139,204 |
-84.27% |
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Profit a/tax |
$371,776 |
$2,119,975 |
-82.46% |
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Net Profit Margin |
0.22% |
1.10% |
-0.88% |
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Current Assets |
$33,212,733 |
$38,272,452 |
-13.22% |
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Non Current Assets |
$11,453,981 |
$8,446,886 |
35.60% |
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Total Assets |
$44,666,714 |
$46,719,338 |
-4.39% |
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Current Liabilities |
$27,037,899 |
$31,088,261 |
-13.03% |
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Non Current Liabilities |
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#DIV/0! |
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Total Liabilities |
$27,037,899 |
$31,088,261 |
-13.03% |
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Net Assets |
$17,628,815 |
$15,631,077 |
12.78% |
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Working Capital |
$6,174,834 |
$7,184,191 |
-14.05% |
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Current Ratio |
1.23 |
1.23 |
-0.22% |
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Debt to Equity |
1.53 |
1.99 |
-22.88% |
TRADE SURVEY
During the current investigation, contact with the subject’s principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
For the financial year ended 31 December 2005 the subject recorded consolidated revenue of $166,800,553 which resulted in an operating profit before tax of $493,860 and an operating profit after tax of $371,776.
As at 31 December 2005, the subject recorded consolidated Working Capital of $6,174,834 and a current ratio of 1.23 to 1 indicating satisfactory liquidity levels.
Net Assets totaled $17,628,815 as at 31 December 2005.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)