MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Name :

ARROW ELECTRONICS ASIA (S) PTE. LTD.

 

 

Formerly Known As :

ARROW ELECTRONICS INDONESIA PTE LTD

 

 

Registered Office :

750e Chai Chee Road #07-01/02 Technopark @ Chai Chee Singapore 469005

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

19.08.1995

 

 

Com. Reg. No.:

199505934R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Electronic Components

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – 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

:

ARROW ELECTRONICS ASIA (S) PTE. LTD.

Registration No

:

199505934R

Date of Registration

:

19/08/1995

Former Name

:

1.ARROW ELECTRONICS (INDONESIA) PTE LTD Eff. date : 19/08/1995 Eff. date : 19/08/1995

2.ARROW ELECTRONICS INDONESIA PTE LTD Eff. date : 26/12/1997 Eff. date : 26/12/1997

Date of Change of Name

:

22/07/2002

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

750E CHAI CHEE ROAD #07-01/02 TECHNOPARK @ CHAI CHEE SINGAPORE 469005

Date of Change of Address

:

19/01/2004

Contact No.

:

6311 9566

Fax No.

:

6311 9577

Website

:

NA

Registered Activities

:

1. WHOLESALE OF ELECTRONIC COMPONENTS

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$6,929,994.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 6,929,994

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$6,929,994.00 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

:

3

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 561,780,597.00 (FY2009)

Net Worth

:

SGD - SIN (46,204,391.00) (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

443 POSITION IN SINGAPORE 1000 (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

9.61% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

No Recommendation

 

 

SHAREHOLDER DETAILS

 

NAME

:

COMPONENTS AGENT (CAYMAN) LIMITED

SHAREHOLDER ID

:

T03UF0274H

NATIONALITY

:

VIRGIN ISLANDS, BRITISH

ADDRESS

:

P.O.BOX 2681 GT,GEORGE TOWN GRAND CAYMAN, BRITISH, WEST INDIES

NO. OF ORD SHARES

:

6,929,994

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

PETER STEWART BROWN

ADDRESS

:

808 COURT NORTH DRIVE MELVILLE NEW YORK 11747 USA

POSITION

:

DIRECTOR

DATE OF APPT

:

22/12/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

141752910

 

NAME

:

PAUL JOSEPH REILLY

ADDRESS

:

21 OSBOURNE ROAD GARDEN CITY NY 11530 USA

POSITION

:

DIRECTOR

DATE OF APPT

:

15/08/2002

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

445187675

 

NAME

:

YU MAN WANG

ADDRESS

:

FLAT L 23/F BLK 2 ROYAL PENINSULA HUNG HOM KOWLOON HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

13/08/2010

NATIONALITY

:

BR NAT. OVERSEAS

I/C PASSPORT

:

790204052

 

NAME

:

TAN GEOK CHENG DORIS

ADDRESS

:

229 TAMPINES STREET 23 #12-257 SINGAPORE 521229

POSITION

:

SECRETARY

DATE OF APPT

:

28/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0067114B

 

NAME

:

JEFFREY SOL MANN

ADDRESS

:

82 GRANGE ROAD #21-04 COLONNADE APARTMENT SINGAPORE 249587

POSITION

:

DIRECTOR

DATE OF APPT

:

12/11/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2759027F

 

 

KEY PERSONNEL PROFILE

 

Name:

PAUL JOSEPH REILLY

NRIC Number:

445187675

Available Address:

21 OSBOURNE ROAD GARDEN CITY NY 11530 USA

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ACHIEVA COMPONENTS PTE LTD

DIRECTOR

04/07/2008

-

-

2

ACHIEVA ELECTRONICS PTE LTD

DIRECTOR

04/07/2008

-

-

3

ARROW ELECTRONICS (S) PTE LTD

DIRECTOR

15/08/2002

-

-

4

ARROW ELECTRONICS ASIA (S) PTE. LTD.

DIRECTOR

15/08/2002

-

-

5

ETEQ COMPONENTS PTE LTD

DIRECTOR

01/12/2008

-

-

6

RICHARDSON RFPD SINGAPORE PTE. LTD.

DIRECTOR

01/12/2008

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ETEQ COMPONENTS INTERNATIONAL PTE. LTD.

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/12/2008

-

2

STRONG PTE LTD

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

ALTERNATE DIRECTOR

12/11/2007

-

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

KEY PERSONNEL PROFILE

 

Litigation Search – Writ of Summons

 

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

ACHIEVA ELECTRONICS PTE LTD

100

ACHIEVA COMPONENTS PTE LTD

100

RICHARDSON RFPD SINGAPORE PTE. LTD.

100

 

                                                                                                                       

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

:

30/06/2010

Date of Last AR

:

20/07/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

561,780,597

5.40

533,007,024

496,476,805

520,215,498

389,136,266

Profit/(Loss) Before Tax

(5,477,240)

NA

(58,186,009)

3,471,902

4,815,531

3,073,685

Profit After Tax attributable to Shareholders

(5,294,504)

NA

(58,019,814)

3,285,066

3,971,112

2,337,200

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

255,379,747

15.37

221,355,295

214,383,397

175,014,700

132,823,734

Current Assets

228,144,239

18.87

191,926,179

214,098,773

174,416,142

132,458,933

Non Current Assets

27,235,508

-7.45

29,429,116

284,624

598,558

364,801

 

 

 

 

 

 

 

Total Liabilities

301,584,139

15.54

261,023,716

194,840,091

157,953,361

119,407,560

Current Liabilities

301,566,168

15.54

260,997,286

194,835,944

157,945,440

119,399,561

Non Current Liabilities

17,971

-32.01

26,430

4,147

7,921

7,999

 

 

 

 

 

 

 

Shareholders' Funds

(46,204,391)

NA

(39,668,421)

19,543,306

17,061,339

13,416,173

Share Capital

5,795,818

3.13

5,619,936

5,984,948

6,310,193

6,637,597

Total Reserves

(52,000,209)

NA

(45,288,357)

13,558,358

10,751,146

6,778,576

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

5.40

7.36

-4.56

33.68

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

NA

NA

0.66

0.76

0.60

Return on Equity (%)

NA

NA

16.81

23.28

17.42

Return on Assets (%)

NA

NA

1.53

2.27

1.76

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

NA

NA

9.97

9.26

8.90

Current Debt/Equity (Times)

NA

NA

9.97

9.26

8.90

Long Term Debt To Equity (Times)

NA

NA

0.00

0.00

0.00

Total Asset To Total Equity (Times)

NA

NA

10.97

10.26

9.90

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.20

2.41

2.32

2.97

2.93

Fixed Assets Turnover (Times)

20.63

18.11

1,744.33

869.11

1,066.71

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.76

0.74

1.10

1.10

1.11

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 9.61% (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

We are unable to comment on Subject's profitability as Subject posted losses for the financial year end under review.

 

 

Liquidity

 

Current ratio stood at 0.76 times in FY09 (FY08: 0.74 times). This means that the company has SGD - SIN 0.76 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

We are unable to comment on Subject's leverage as Subject is in net deficit position for FY09.

 

 

Efficiency Ratio

 

 

We are unable to comment on Subject's return on equity as Subject posted losses for the financial year end under review.

 

We are unable to comment on Subject's return on assets as Subject posted losses for the financial year end under review.

 

Total assets turnover ratio logged at 2.20 times in FY09 (FY08: 2.41 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.45.32

UK Pound

1

Rs.70.54

Euro

1

Rs.58.70

 

 

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%)

 

 

 

 

 

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.