MIRA INFORM REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
AUTODESK ASIA PTE LTD |
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Registered Office : |
3 Fusionopolis Way #10-21 Symbiosis Singapore 138633 |
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Country : |
Singapore |
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Financials (as on) : |
31.01.2010 |
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Date of Incorporation : |
18.11.1992 |
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Com. Reg. No.: |
199206210k |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Software Consultancy |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
S$1,000,000 |
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Status : |
Very Good |
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Payment
Behaviour : |
No Complaints |
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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 |
|
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 |
Executive
Summary
Credit Recommendation
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Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
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: |
AUTODESK, INC. |
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SHAREHOLDER ID |
: |
T06UF0362F |
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NATIONALITY |
: |
UNITED STATES |
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ADDRESS |
: |
111 MCLNNIS PARKWAY, SAN RAFAEL CA 94903 USA |
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NO. OF ORD SHARES |
: |
69,418 |
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% OF SHAREHOLDING |
: |
69.4% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
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||
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NAME |
: |
AUTODESK DEVELOPMENT B.V. |
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SHAREHOLDER ID |
: |
T06UF0634L |
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NATIONALITY |
: |
NETHERLANDS |
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ADDRESS |
: |
16 TRONDHEM 2993 LE BARENDRECHT, THE NETHERLANDS |
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NO. OF ORD SHARES |
: |
30,583 |
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% OF SHAREHOLDING |
: |
30.6% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
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OFFICER DETAILS
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: |
PAMELA
JEAN STRAYER |
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ADDRESS |
: |
170
RANCHERIA ROAD, KENTFIELD, CA 94904
UNITED STATES OF AMERICA |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
01/04/2009 |
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NATIONALITY |
: |
AMERICAN |
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I/C PASSPORT |
: |
211360151 |
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NAME |
: |
SUSAN
MARIE PIRRI |
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ADDRESS |
: |
2940
JACKSON STREET, SAN FRANCISCO CALIFORNIA 94115, UNITED STATES OF AMERICA |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
04/09/2008 |
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NATIONALITY |
: |
AMERICAN |
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I/C PASSPORT |
: |
425608920 |
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||
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NAME |
: |
FOONG
KUM WAI |
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ADDRESS |
: |
5
JALAN HAROM SETANGKAI CHIP HOCK GARDENS SINGAPORE 258798 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
11/05/2006 |
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NATIONALITY |
: |
SINGAPORE
P.R. |
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I/C PASSPORT |
: |
S2561075Z |
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NAME |
: |
LAI
FOON KUEN |
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ADDRESS |
: |
518A
TAMPINES CENTRAL 7 #05-76 SINGAPORE 521518 |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
04/09/2008 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S7423122E |
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KEY PERSONNEL PROFILE
|
FOONG KUM WAI |
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NRIC Number: |
S2561075Z |
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Available Address: |
5 JALAN HAROM SETANGKAI CHIP
HOCK GARDENS SINGAPORE 258798 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
AUTODESK ASIA PTE LTD |
DIRECTOR |
11/05/2006 |
- |
- |
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2 |
MOLDFLOW SINGAPORE PTE LTD |
DIRECTOR |
30/09/2008 |
- |
- |
Previous Business
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No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
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Bankruptcy Record
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Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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Litigation Search – Writ of Summons
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Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
|
28500 |
2010 |
22/10/2010 |
- |
Negligence
Related |
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|
M |
29658 |
2002 |
07/10/2002 |
- |
Negligence
Related |
SUBSIDIARIES AND ASSOCIATE
COMPANIES
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Company |
Shareholdings (%) |
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BANKERS/
FINANCIERS
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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
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Date of Last AGM |
: |
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Date of Last AR |
: |
29/10/2010 |
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Date of A/C Laid At Last AGM |
: |
31/01/2010 |
FINANCIAL HIGHLIGHTS
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Financial Figures |
||||||
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JAN 2010 |
% Change |
JAN 2009 |
JAN 2008 |
JAN 2007 |
JAN 2006 |
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Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
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Profit and Loss Key Figures |
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|
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656,614,853 |
-23.34 |
856,498,824 |
729,453,259 |
655,604,386 |
590,558,369 |
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Profit/(Loss) Before Tax |
73,974,268 |
-48.96 |
144,919,846 |
163,686,846 |
160,360,815 |
147,908,151 |
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Profit After Tax attributable to
Shareholders |
73,693,585 |
-48.77 |
143,846,883 |
161,667,178 |
158,922,981 |
147,826,116 |
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Balance Sheet Key Figures |
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Total Assets |
660,108,457 |
17.95 |
559,670,669 |
570,059,411 |
361,939,620 |
211,768,162 |
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Current Assets |
478,508,306 |
-12.43 |
546,446,546 |
567,638,040 |
357,948,810 |
208,241,437 |
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Non Current Assets |
181,600,151 |
1,273.25 |
13,224,123 |
2,421,371 |
3,990,810 |
3,526,725 |
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Total Liabilities |
197,571,080 |
6.96 |
184,711,160 |
231,314,449 |
180,158,220 |
149,624,587 |
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Current Liabilities |
155,361,204 |
-9.83 |
172,300,456 |
166,600,531 |
138,245,777 |
115,111,226 |
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Non Current Liabilities |
42,209,876 |
240.11 |
12,410,704 |
64,713,918 |
41,912,443 |
34,513,361 |
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Shareholders' Funds |
462,537,377 |
23.36 |
374,959,508 |
338,744,962 |
181,781,400 |
62,143,575 |
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Share Capital |
5,784,005 |
2.00 |
5,670,562 |
5,968,081 |
6,303,613 |
6,660,998 |
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Total Reserves |
456,753,372 |
23.68 |
369,288,946 |
332,776,881 |
175,477,787 |
55,482,577 |
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FINANCIAL RATIOS
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JAN
2010 |
JAN
2009 |
JAN
2008 |
JAN
2007 |
JAN
2006 |
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Growth % |
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|
-23.34 |
17.42 |
11.26 |
11.01 |
NA |
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Profitability |
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Profit Margin (%) |
11.22 |
16.79 |
22.16 |
24.24 |
25.03 |
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Return on Equity (%) |
15.93 |
38.36 |
47.73 |
87.43 |
237.88 |
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Return on Assets (%) |
11.16 |
25.70 |
28.36 |
43.91 |
69.81 |
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Leverage |
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Total Debt/Equity (Times) |
0.43 |
0.49 |
0.68 |
0.99 |
2.41 |
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Current Debt/Equity (Times) |
0.34 |
0.46 |
0.49 |
0.76 |
1.85 |
|
Long Term Debt To Equity (Times) |
0.09 |
0.03 |
0.19 |
0.23 |
0.56 |
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Total Asset To Total Equity (Times) |
1.43 |
1.49 |
1.68 |
1.99 |
3.41 |
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Asset Management |
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Total Assets Turnover (Times) |
0.99 |
1.53 |
1.28 |
1.81 |
2.79 |
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Fixed Assets Turnover (Times) |
3.62 |
64.77 |
301.26 |
164.28 |
167.45 |
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Liquidity |
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Current Ratio (Times) |
3.08 |
3.17 |
3.41 |
2.59 |
1.81 |
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FINANCIAL
COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 2.69% (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
The company yielded a rate of
net profit on sales of 11.22 per cent in FY10 (FY09: 16.79 per cent). The
company is now able to book in SGD - SIN 0.11 of profit for every SGD - SIN of
sales in FY10, as compared with SGD - SIN 0.17 a year ago.
Liquidity
Current ratio stood at 3.08 times in FY10
(FY09: 3.17 times). This means that the company has SGD - SIN 3.08 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 0.43 times in FY10, as compared with 0.49 times in FY09. This means
that the company requires additional external financing of SGD - SIN 0.43 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 15.93 per cent for Subject in the current financial
period, as compared to 38.36 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 11.16 per cent (FY09: 25.70 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 0.99 times in FY10 (FY09: 1.53
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.44.72 |
|
UK Pound |
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
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.