MIRA INFORM
REPORT
|
Report Date : |
29.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG C&T SINGAPORE PTE. LTD. |
|
|
|
|
Formerly Known As : |
Samsung Singapore
Pte. Ltd. |
|
|
|
|
Registered Office : |
3 Church Street #21-02 Samsung Hub Singapore 049483 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
12.06.2008 |
|
|
|
|
Com. Reg. No.: |
200811644d |
|
|
|
|
Legal Form : |
Limited Private Company |
|
|
|
|
Line of Business : |
General Wholesale Trade |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
S$ 1,000,000 |
|
Status : |
Moderate |
|
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, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Singapore |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Executive
Summary
|
: |
SAMSUNG C&T SINGAPORE
PTE. LTD. |
|
|
Registration No |
: |
200811644D |
|
Date of Registration |
: |
12/06/2008 |
|
Former Name |
: |
SAMSUNG SINGAPORE PTE.
LTD. Eff. date : 12/06/2008 Eff. date : 12/06/2008 |
|
Date of Change of Name |
: |
08/07/2010 |
|
Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
3 CHURCH STREET #21-02
SAMSUNG HUB SINGAPORE 049483 |
|
Date of Change of Address |
: |
12/06/2008 |
|
Contact No. |
: |
NA |
|
Fax No. |
: |
NA |
|
Website |
: |
NA |
|
Registered Activities |
: |
1. GENERAL WHOLESALE
TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. BUILDING CONSTRUCTION
NEC |
|
Issued Ordinary Capital* |
: |
$34,000,000.00 U.S.
DOLLAR ,NO. OF SHARE : 34,000,000 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$34,000,000.00 U.S.
DOLLAR |
|
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 |
: |
ERNST & YOUNG LLP |
|
Bankers / Financiers |
: |
STANDARD CHARTERED BANK
(HONG KONG) LIMITED |
|
Turnover |
: |
SINGAPORE, DOLLARS
1,490,780,198.60 (FY2010) |
|
Net Worth |
: |
SINGAPORE, DOLLARS
35,404,053.30 (FY2010) |
|
No. of Bank Charges |
: |
1 |
|
No. of Litigation Suits |
: |
NA |
|
S1000 / SME 500 / FG50
Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
NA |
Credit Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
|
: |
SAMSUNG C&T CORPORATION |
|
|
SHAREHOLDER ID |
: |
S90UF0233L |
|
NATIONALITY |
: |
NA |
|
ADDRESS |
: |
SAMSUNG C&T CORPORATION BUILDING, 1321-20, SEOCHO 2-DONG
SEOCHO-GU, SEOUL, KOREA 137-857 |
|
NO. OF ORD SHARES |
: |
34,000,000 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
U.S. DOLLAR |
OFFICER DETAILS
|
: |
KIM
SUK KYU |
|
|
ADDRESS |
: |
31
MOUNT SINAI RISE #07-05 MARBELLA, THE SINGAPORE 276953 |
|
POSITION |
: |
DIRECTOR MANAGING
DIRECTOR |
|
DATE OF APPT |
: |
11/07/2011 11/07/2011 |
|
NATIONALITY |
: |
KOREAN,
SOUTH |
|
I/C PASSPORT |
: |
G5143311X |
|
|
||
|
NAME |
: |
HA
DONG HO |
|
ADDRESS |
: |
53A
GRANGE ROAD #03-01 SPRING GROVE SINGAPORE 249566 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
12/06/2008 |
|
NATIONALITY |
: |
KOREAN,
SOUTH |
|
I/C PASSPORT |
: |
G6088757N |
|
|
||
|
NAME |
: |
LEE
TAE GO |
|
ADDRESS |
: |
PLAZA
BAPINDO, 23RD FLOOR, CITIBANK TOWER, JL. JEND. SUDIRMAN KAV, 54-55 JAKARTA
12190, INDONESIA |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
16/02/2009 |
|
NATIONALITY |
: |
KOREAN,
SOUTH |
|
I/C PASSPORT |
: |
JR3687378 |
|
|
||
|
NAME |
: |
TAY
TUAN LENG |
|
ADDRESS |
: |
635
PASIR RIS DRIVE 1 #11-600 SINGAPORE 510635 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
15/09/2010 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7432140B |
|
|
||
|
NAME |
: |
LEE
WEI HSIUNG |
|
ADDRESS |
: |
633
JURONG WEST STREET 65 #10-310 SINGAPORE 640633 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
05/01/2009 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7927166G |
KEY PERSONNEL PROFILE
|
KIM SUK KYU |
|
|
NRIC Number: |
G5143311X |
|
Available Address: |
31 MOUNT SINAI RISE #07-05
MARBELLA, THE SINGAPORE 276953 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
S&G BIOFUEL PTE. LTD. |
DIRECTOR |
01/06/2011 |
- |
- |
|
|
2 |
S&G BIOFUEL PTE. LTD. |
MANAGING DIRECTOR |
01/06/2011 |
- |
- |
|
3 |
SAMSUNG C&T SINGAPORE PTE.
LTD. |
DIRECTOR |
11/07/2011 |
- |
- |
|
4 |
SAMSUNG C&T SINGAPORE PTE.
LTD. |
MANAGING DIRECTOR |
11/07/2011 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
|
|
|
|
|
||
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
|
|
|
|
|
Litigation Search – Writ of Summons
|
Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
|
|
|
|
|
|
SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
|
|
|
|
|
|
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:
|
Charge
No. |
: |
C201002500 |
|
|
|
Date
of Registration |
: |
24/03/2010 |
|
|
Chargee |
: |
STANDARD
CHARTERED BANK (HONG KONG) LIMITED |
|
|
Amount Secured and
Currency |
: |
All
Monies |
|
|
Address |
: |
--- |
LITIGATION
Clear
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
22/07/2011 |
|
Date of A/C Laid At Last AGM |
: |
31/12/2010 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||
|
|
DEC 2010 |
% Change |
DEC 2009 |
DEC 2008 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
|
|
|
|
|
1,490,780,199 |
22.05 |
1,221,464,833 |
890,994,905 |
|
|
Profit/(Loss) Before Tax |
(1,651,890) |
NA |
(7,819,885) |
(1,991,592) |
|
Profit After Tax attributable to
Shareholders |
(1,651,890) |
NA |
(7,819,885) |
(1,991,592) |
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
Total Assets |
159,732,573 |
10.78 |
144,190,583 |
198,066,858 |
|
Current Assets |
143,001,406 |
12.82 |
126,750,814 |
186,161,630 |
|
Non Current Assets |
16,731,167 |
-4.06 |
17,439,769 |
11,905,228 |
|
|
|
|
|
|
|
Total Liabilities |
124,328,520 |
12.63 |
110,383,479 |
157,167,030 |
|
Current Liabilities |
124,328,520 |
12.63 |
110,383,479 |
157,167,030 |
|
Non Current Liabilities |
0 |
NA |
0 |
0 |
|
|
|
|
|
|
|
Shareholders' Funds |
35,404,053 |
4.72 |
33,807,105 |
40,899,828 |
|
Share Capital |
46,263,800 |
5.98 |
43,653,990 |
42,891,420 |
|
Total Reserves |
(10,859,747) |
NA |
(9,846,885) |
(1,991,592) |
|
|
|
|
|
|
FINANCIAL RATIOS
|
|
|||
|
|
DEC
2010 |
DEC
2009 |
DEC
2008 |
|
Growth % |
|
|
|
|
22.05 |
37.09 |
NA |
|
|
|
|
|
|
|
Profitability |
|
|
|
|
Profit Margin (%) |
-0.11 |
-0.64 |
-0.22 |
|
Return on Equity (%) |
-4.67 |
-23.13 |
-4.87 |
|
Return on Assets (%) |
-1.03 |
-5.42 |
-1.01 |
|
|
|
|
|
|
Leverage |
|
|
|
|
Total Debt/Equity (Times) |
3.51 |
3.27 |
3.84 |
|
Current Debt/Equity (Times) |
3.51 |
3.27 |
3.84 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
4.51 |
4.27 |
4.84 |
|
|
|
|
|
|
Asset Management |
|
|
|
|
Total Assets Turnover (Times) |
9.33 |
8.47 |
4.50 |
|
Fixed Assets Turnover (Times) |
89.10 |
70.04 |
74.84 |
|
|
|
|
|
|
Liquidity |
|
|
|
|
Current Ratio (Times) |
1.15 |
1.15 |
1.18 |
|
|
|
|
|
FINANCIAL
COMMENTARY
Profitability
We are unable to comment on
Subject's profitability.
Liquidity
Current ratio stood at 1.15 times in FY10
(FY09: 1.15 times). This means that the company has SINGAPORE, DOLLARS 1.15 of
current assets for every SINGAPORE, DOLLARS 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 3.51 times in FY10, as compared with 3.27 times in FY09. This means
that the company requires additional external financing of SINGAPORE, DOLLARS
3.51 for every SINGAPORE, DOLLARS 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
We are unable to comment on Subject's return on equity.
We are unable to comment on Subject's return on assets.
Total assets turnover ratio logged at 9.33 times in FY10 (FY09: 8.47
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.46.05 |
|
UK Pound |
1 |
Rs.75.19 |
|
Euro |
1 |
Rs.66.47 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.