MIRA INFORM REPORT
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Report Date : |
22.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASIA POLYURETHANE MFG PTE LTD. |
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Registered Office : |
22 Tuas Crescent, Singapore 638716 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
07.03.1985 |
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Com. Reg. No.: |
198500541K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing Basic Industrial Chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Good |
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Payment
Behaviour : |
Usually Correct |
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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) |
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Singapore |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
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Company Name: |
Asia Polyurethane Mfg Pte Ltd. |
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Former Name: |
HAGER &
KASSNER (ASIA) MFG PTE LTD |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
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Credit
Summary
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Credit Rating: |
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Credit Opinion: |
Company
Identification Details
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Registered Name: |
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Registered
Address: |
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Date of
Foundation: |
1985 |
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Date of
Registration:: |
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|
198500541K |
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Country of
Incorporation: |
SINGAPORE |
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Registered Capital: |
SGD 3,550,000 (USD 2,936,560) (As of 2011.07,
1 SGD = 0.8272 USD) |
|
Paid-up Capital: |
SGD 3,550,000
(USD 2,936,560) = 3,550,000 Shares@1 SGD |
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Legal Form: |
|
|
Principal
Activities: |
20139- Manuf Basic
Industrial Chemicals |
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40-50 Employees (Approximately) |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
|
History
Subject was incorporated on
Change of Name:
|
Date |
Change |
|
|
Asia
Polyurethane Mfg Pte Ltd. |
It had the honor
of being awarded with the Enterprise 50 award, a local award for the top 50 privately
run companies in Singapore, 3 years in a row from 2004 to 2006.
Shareholders
|
Subscription
Amount |
Proportion
of Investment (%) |
|
|
3,550,000 |
100% |
|
|
Total |
3,550,000 |
100% |
Major Shareholder
Information:
|
Name: |
Tan & Lim
Investment Pte. Ltd. |
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Registered
Number: |
|
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Address: |
22 Tuas Crescent
Singapore 638716 |
Subsidiaries &
Branches
Branches:
|
Name: |
APU Polyurethane
(Shanghai) Ltd. |
|
Address: |
Tower H,
Building No.25, Liduxingui, Xinzha Rd, Jing’an District, Shanghai City |
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Telephone: |
+86-21-6287-8800/6287-8812 |
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Fax: |
+86-21-6287-8802 |
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Email: |
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Note: |
The company only
does sales business in China. |
Notes:
Subject also has a
branch in Indonesia, but the specific information we could not obtain from
subject or other resource.
Manage
Information
Core Management
Detailed
Information of Management:
|
1 |
|
|
Name: |
MDM LIM ING PO
(LIAN PO) @ DIAN ANISAH SALIM @ LIM CHAI HOON |
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Position: |
MANAGING
DIRECTOR |
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ID Number: |
S2175908B |
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Address: |
2 ONTARIO
AVENUE, Singapore 576208 |
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Nationality: |
SINGAPORE P.R. |
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Date of
Appointment: |
|
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2 |
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Name: |
MDM LIM ING PO
(LIAN PO) @ DIAN ANISAH SALIM @ LIM CHAI HOON |
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Position: |
DIRECTOR |
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ID Number: |
S2175908B |
|
Address: |
2 ONTARIO
AVENUE, Singapore 576208 |
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Nationality: |
SINGAPORE P.R. |
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Date of
Appointment: |
|
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3 |
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Name: |
ERMAN TANDJUNG @
TAN ENG MENG @ TAN AIK BENG |
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Position: |
DIRECTOR |
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ID Number: |
S2187181H |
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Address: |
2 ONTARIO
AVENUE, Singapore 576208 |
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Nationality: |
SINGAPORE P.R. |
|
Date of
Appointment: |
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4 |
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Name: |
ERMAN TANDJUNG @
TAN ENG MENG @ TAN AIK BENG |
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Position: |
SECRETARY |
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ID Number: |
S2187181H |
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Address: |
2 ONTARIO
AVENUE, Singapore 576208 |
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Nationality: |
SINGAPORE P.R. |
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Date of
Appointment: |
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Operation
Information
Offices
& Factories
|
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Factory and office |
|
Address: |
Production
information
l
Subject is a researcher of Polyurethane resins and
a supplier of Polyurethane blended components. Major
products include Rigid Foam, Integral Skin, Flexible Foam,
Structural Foam, Viscoelastic Foam, Polyurea, etc.
l
Subject has an equipped factory at the trading
address. And subject also has a professional R & D team to develop new
products.
l
Subject has passed ISO 9001. It was also certified
to Singapore Quality Class.
Purchase
l
Technologies and facilities are
brought from Germany.
l
The main raw materials for
polyurethanes are diisocyanates and polyols, which
mainly purchased from European countries such as Germany, Italy, etc. Just few
raw materials are purchased in local area.
Sales
Information
l
Subject is engaged in manufacturing and wholesale
of Polyurethane blended components such as Rigid Foam, Integral Skin, Flexible
Foam, etc.
l
Subject sells products both in local area and
foreign countries. The foreign market includes China, Thailand, Malaysia,
Indonesia, Australia, India, UAE, Iran, etc.
l
The market covers more than 15 different types of
industries, such as domestic appliances, automotive components, petrochemical
insulation projects, furniture industries, general construction and many other
diverse areas.
Settlements
Purchase
Domestic Markets
|
Products |
Payment Terms |
Proportion |
|
Raw materials |
COD, etc. |
100% |
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Facilities, raw
materials |
CBD, etc. |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Polyurethane
blended components |
COD, etc. |
100% |
Overseas Markets
|
Product |
Sales Terms |
Proportion |
|
Polyurethane blended
components |
CBD, etc. |
100% |
Balance
Sheet
|
|
|
|
|
|
10,812,677.00 |
9,776,594.00 |
11,668,352.00 |
|
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Total assets (USD) |
8,017,924 |
7,249,638 |
8,652,433 |
|
Current |
10,010,616.00 |
8,764,027.00 |
10,589,672.00 |
|
Fixed and
others |
802,061.00 |
1,012,567.00 |
1,078,680.00 |
|
Total liabilities |
5,445,628.00 |
5,037,210.00 |
6,577,573.00 |
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Current |
5,445,628.00 |
5,037,210.00 |
6,577,573.00 |
|
Non-current
& long term |
0.00 |
0.00 |
0.00 |
|
Shareholder's funds |
5,367,049.00 |
4,739,384.00 |
5,090,779.00 |
|
Shareholder's funds (USD) |
3,979,828 |
3,514,395 |
3,774,965 |
|
Share Capital |
3,550,000.00 |
3,550,000.00 |
3,550,000.00 |
|
Reserves |
500,000.00 |
500,000.00 |
500,000.00 |
|
(Accumulated
loss) |
1,317,049.00 |
689,384.00 |
1,040,779.00 |
(As of 2010.09, 1 SGD = 0.74153 USD)
Profit/Loss
Account
Unit: SGD
|
|
2009 |
2008 |
2007 |
|
Turnover/Sales and other operating revenue |
31,250,584.00 |
28,933,951.00 |
|
|
Turnover/Sales and other operating revenue (USD) |
21,089,566 |
23,173,246 |
21,455,393 |
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Profit/(Loss) before tax |
905,665.00 |
186,773.00 |
571,313.00 |
|
Profit/(Loss) after tax |
769,665.00 |
148,605.00 |
504,813.00 |
|
Profit/(Loss) after tax (USD) |
570,730 |
110,195 |
374,334 |
(As of 2010.09, 1 SGD = 0.74153 USD)
Financial
Ratio
|
|
2009 |
2008 |
2007 |
|
Earning Capacity |
|
|
|
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Rate of net profit on sales (%) |
2.71 |
0.48 |
1.74 |
|
Return of investment (%) |
7.12 |
1.52 |
4.33 |
|
Return of shareholder's funds |
14.34 |
3.14 |
9.92 |
|
Total assets turnover (%) |
2.63 |
3.20 |
2.48 |
|
Financial Stability |
|
|
|
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Current/working capital ratio (%) |
1.84 |
1.74 |
1.61 |
|
Proprietary ratio (%) |
49.64 |
48.48 |
43.63 |
|
Total debt to equity ratio (%) |
50.36 |
51.52 |
56.37 |
Bankers
Subject declines
to supply information on bankers, and we could not obtain it from other source.
Auditors
|
Name: |
RSM CHIO LIM LLP |
Public
Charges
|
Charge 1 |
|||
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Charge Number |
C200404729 |
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Date of
Registration |
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No. |
Name |
Amount Secured |
Currency |
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1 |
UNITED OVERSEAS BANK LIMITED |
All Monies |
- |
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Charge 2 |
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Charge Number |
C200405497 |
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Date of
Registration |
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No. |
Name |
Amount Secured |
Currency |
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1 |
VERSEA-CHINESE BANKING CORPORATION LIMITED |
All Monies |
- |
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Charge 3 |
|||
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Charge Number |
C200501280 |
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Date of
Registration |
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||
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No. |
Name |
Amount Secured |
Currency |
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1 |
UNITED OVERSEAS BANK LIMITED |
All Monies |
- |
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Charge 4 |
|||
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Charge Number |
C200504697 |
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Date of
Registration |
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||
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No. |
Name |
Amount Secured |
Currency |
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1 |
STANDARD CHARTERED BANK |
All Monies |
- |
Interview
Details
|
Name: |
Mr. Hong |
|
Position: |
Manager |
|
Department: |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.43 |
|
UK Pound |
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.63.41 |
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 |
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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 |
|
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.