MIRA INFORM REPORT

 

 

Report Date :

25.02.2011

 

IDENTIFICATION DETAILS

 

Name :

LINNHOFF TECHNOLOGIES PTE. LTD.

 

 

Formerly Known As :

ELEMONTA ASIA PACIFIC PTE LTD

 

 

Registered Office :

71 Tech Park Crescent Singapore 638072

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

24.01.1989       

 

 

Com. Reg. No.:

198900287W

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of industrial machinery and equipment, design, mfg, distribute, intstall asphalt batching plants

 

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

 

Maximum Credit Limit :

S$626,000

Status :

Good

Payment Behaviour :

No Complaints

Litigation :

Exists

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

Company Name

:

LINNHOFF TECHNOLOGIES PTE. LTD.

Registration No

:

198900287W

Date of Registration

:

24/01/1989

Former Name

:

1.LINTEC INDUSTRIES (S) PTE LTD Eff. date : 24/01/1989 Eff. date : 24/01/1989

2.ELEMONTA ASIA PACIFIC PTE LTD Eff. date : 11/01/1997 Eff. date : 11/01/1997

Date of Change of Name

:

09/09/2002

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

71 TECH PARK CRESCENT SINGAPORE 638072

Date of Change of Address

:

24/01/2003

Contact No.

:

6863 1111

Fax No.

:

6863 3811

Website

:

www.linnhoff.com

Registered Activities

:

1. WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

DESIGN, MFG, DISTRIBUTE, INTSTALL ASPHALT BATCHING PLANTS

2. MANUFACTURE AND REPAIR OF OTHER GENERAL PURPOSE MACHINERY AND EQUIPMENT EXCEPT ELECTRICAL AND ELECTRONIC NEC

COMMISSION, AFT SALES SVC FOR ASPHALT BATCHING PLANTS

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

J. TAN & CO

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 15,406,744.00 (FY2010)

Net Worth

:

SGD - SIN 3,128,203.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

3

S1000 / SME 500 / FG50 Ranking

:

330 POSITION IN SINGAPORE SME 500 (2008/2009)

2345 POSITION IN SINGAPORE 1000 (2007/2008)

229 POSITION IN SINGAPORE SME 500 (2007/2008)

353 POSITION IN SINGAPORE SME 500 (2006/2007)

595 POSITION IN SINGAPORE SME 500 (2005/2006)

566 POSITION IN SINGAPORE SME 500 (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$626,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

IPS-LINTEC ASIA PACIFIC PTE LTD

SHAREHOLDER ID

:

198901949G

NATIONALITY

:

SINGAPORE

ADDRESS

:

71 TECH PARK CRESCENT SINGAPORE 638072

NO. OF ORD SHARES

:

800,000

% OF SHAREHOLDING

:

80%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LINTEC GMBH & CO.KG

SHAREHOLDER ID

:

T06UF0215L

NATIONALITY

:

GERMANY

ADDRESS

:

ALTER POSTWEG 28 D-21614 BUXTEHUDE GERMANY

NO. OF ORD SHARES

:

200,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KLAUS THESENFITZ

ADDRESS

:

ALTER POSTWEG 28 D-21614 BUXTEHUDE GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

24/01/1989

NATIONALITY

:

GERMAN

I/C PASSPORT

:

1645048963

 

NAME

:

TAN SUAN YAP

ADDRESS

:

94 THOMSON GREEN THOMSON HILLS ESTATE SINGAPORE 574961

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

08/01/2003

18/10/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0142491B

 

NAME

:

CHAN TIEN LOK

ADDRESS

:

10A GALISTAN AVENUE SINGAPORE 669684

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0158764A

 

NAME

:

TAN AH KIM

ADDRESS

:

10A GALISTAN AVENUE SINGAPORE 669684

POSITION

:

SECRETARY

DIRECTOR

DATE OF APPT

:

03/05/2003

03/05/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1215501H

 

NAME

:

THOMAS PETER WOLF

ADDRESS

:

65 CHOA CHU KANG LOOP #01-01 NORTHVALE SINGAPORE 689670

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/2003

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2725048C

 

 

KEY PERSONNEL PROFILE

 

Name:

TAN SUAN YAP

NRIC Number:

S0142491B

Available Address:

94 THOMSON GREEN THOMSON HILLS ESTATE  SINGAPORE 574961

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ECO-WIZ GROUP PTE. LTD.

DIRECTOR

06/09/2010

-

-

2

EUROPOWER TECHNOLOGY PTE. LTD.

DIRECTOR

05/10/2006

-

-

3

EUROPOWER TECHNOLOGY PTE. LTD.

MANAGING DIRECTOR

10/03/2009

-

-

4

IPS AGSE PTE. LTD.

DIRECTOR

28/03/1991

-

-

5

IPS AGSE PTE. LTD.

MANAGING DIRECTOR

19/04/1991

-

-

6

IPS GROUP PTE. LTD.

DIRECTOR

23/03/1991

2205000

35.00

7

IPS GROUP PTE. LTD.

MANAGING DIRECTOR

30/12/1995

2205000

35.00

8

IPS LEASING PTE. LTD.

DIRECTOR

03/11/2009

-

-

9

IPS SECUREX PTE. LTD.

DIRECTOR

26/10/1991

-

-

10

IPS TECHNOLOGIES PTE. LTD.

DIRECTOR

03/08/1994

-

-

11

IPS-EUROTEC ASIA PACIFIC PTE. LTD.

DIRECTOR

23/03/1991

-

-

12

IPS-EUROTEC ASIA PACIFIC PTE. LTD.

MANAGING DIRECTOR

27/01/1992

-

-

13

IPS-HELSE PTE. LTD.

DIRECTOR

06/09/2010

-

-

14

IPS-LINTEC ASIA PACIFIC PTE LTD

DIRECTOR

23/03/1991

-

-

15

IPS-LINTEC ASIA PACIFIC PTE LTD

MANAGING DIRECTOR

27/01/1992

-

-

16

LINNHOFF TECHNOLOGIES PTE. LTD.

DIRECTOR

08/01/2003

-

-

17

LINNHOFF TECHNOLOGIES PTE. LTD.

MANAGING DIRECTOR

18/10/2004

-

-

18

PERFEX INTERNATIONAL PRIVATE LIMITED

DIRECTOR

08/01/1999

-

-

19

POWERSOURCE INTERNATIONAL PTE. LTD.

DIRECTOR

01/06/2005

-

-

20

SINGAPORE RADIATION CENTRE PTE. LTD.

DIRECTOR

19/03/2010

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

IPS AGSE PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

18/01/2011

2

IPS SECUREX PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

01/11/1991

27/11/2008

3

IPS TECHNOLOGIES PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

30/12/1995

18/12/2008

4

IPS-ORU ASIA PACIFIC PTE LTD

STRUCK OFF

DIRECTOR

23/01/1995

08/07/2005

5

OZONE ENTERPRISES (PTE) LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

6

PERFEX INTERNATIONAL PRIVATE LIMITED

LIVE COMPANY

SHAREHOLDER

-

18/01/2011

7

SDMO ASIA PACIFIC PTE LTD

LIVE COMPANY

DIRECTOR

20/12/1991

03/04/2002

8

SDMO ASIA PACIFIC PTE LTD

LIVE COMPANY

MANAGING DIRECTOR

27/01/1992

20/12/1995

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Year

Date of Filing

Amount

Cause Category

H

574

2004

08/07/2004

SGD 500,000.00

-

 

 

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

 

The following litigation suits were traced against Subject. Case status is as per available. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered.

 

To date, there have been 3 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

3

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.

:

7619

 

Date of Filing

:

16/05/1995

 

Amount

:

8,055.63

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LENG HUAT STEEL SUPPLIES

 

Last Update Date

:

20/03/2006

 

2)

Court

:

Magistrate Court

 

Case No.

:

10500

 

Date of Filing

:

23/06/1995

 

Amount

:

1,016.25

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

THYSSEN HANIEL LOGISTICS S PTE LTD

 

Last Update Date

:

20/03/2006

 

3)

Court

:

Magistrate Court

 

Case No.

:

2613

 

Date of Filing

:

10/02/1996

 

Amount

:

21,562.67

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ROBERT BOSCH SOUTH EAST ASIA PTE LTD

 

Last Update Date

:

20/03/2006

 

 

COMPLIANCE

 

Date of Last AGM

:

11/12/2010

Date of Last AR

:

10/01/2011

Date of A/C Laid At Last AGM

:

30/06/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

15,406,744

4.89

14,688,434

21,193,616

26,036,589

17,195,994

Profit/(Loss) Before Tax

2,243,166

0.86

2,224,022

2,788,253

2,635,697

1,390,152

Profit After Tax attributable to Shareholders

2,016,615

1.52

1,986,378

2,316,920

2,085,616

1,099,452

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

6,387,895

41.07

4,528,061

7,980,405

6,864,727

5,473,739

Current Assets

6,360,274

41.35

4,499,738

7,933,135

6,799,577

5,406,307

Non Current Assets

27,621

-2.48

28,323

47,270

65,150

67,432

 

 

 

 

 

 

 

Total Liabilities

3,259,692

55.78

2,092,473

5,649,195

5,036,437

4,085,065

Current Liabilities

3,259,692

55.78

2,092,473

5,649,195

5,036,437

4,085,065

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

3,128,203

28.44

2,435,588

2,331,210

1,828,290

1,388,674

Share Capital

1,000,000

0.00

1,000,000

1,000,000

1,000,000

1,000,000

Total Reserves

2,128,203

48.25

1,435,588

1,331,210

828,290

388,674

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

JUN 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

4.89

-30.69

-18.60

51.41

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

13.09

13.52

10.93

8.01

6.39

Return on Equity (%)

64.47

81.56

99.39

114.07

79.17

Return on Assets (%)

31.57

43.87

29.03

30.38

20.09

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.04

0.86

2.42

2.75

2.94

Current Debt/Equity (Times)

1.04

0.86

2.42

2.75

2.94

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.04

1.86

3.42

3.75

3.94

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.41

3.24

2.66

3.79

3.14

Fixed Assets Turnover (Times)

557.79

518.60

448.35

399.64

255.01

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.95

2.15

1.40

1.35

1.32

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 13.09 per cent in FY10 (FY09: 13.52 per cent). The company is now able to book in SGD - SIN 0.13 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.14 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.95 times in FY10 (FY09: 2.15 times). This means that the company has SGD - SIN 1.95 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

Total debt-to-equity ratio notched 1.04 times in FY10, compared with 0.86 times in FY09. This means that the company requires additional external financing of SGD - SIN 1.04 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 64.47 per cent for Subject in the current financial period, as compared to 81.56 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 31.57 per cent (FY09: 43.87 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 2.41 times in FY10 (FY09: 3.24 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.45.37

UK Pound

1

Rs.73.54

Euro

1

Rs.62.39

 

 

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

 

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.