MIRA INFORM REPORT

 

 

Report Date :           

18.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KOMATSU ASIA & PACIFIC PTE. LTD.

 

 

Formerly Known As :

KOMATSU SINGAPORE PTE LTD

 

 

Registered Office :

1 Gul Avenue Singapore 629648

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

18.01.1971

 

 

Com. Reg. No.:

197100057R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Business and management consultancy services

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

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

 

Maximum Credit Limit :

S$1,000,000

 

 

Status :

Very 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 – 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

 

 Bottom of Form

 

Executive Summary

 

Company Name

:

KOMATSU ASIA & PACIFIC PTE. LTD.

Registration No

:

197100057R

Date of Registration

:

18/01/1971

Former Name

:

KOMATSU SINGAPORE PTE LTD Eff. date : 18/01/1971 Eff. date : 18/01/1971

Date of Change of Name

:

04/07/1996

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 GUL AVENUE SINGAPORE 629648

Date of Change of Address

:

16/01/2004

Contact No.

:

6861 2033

Fax No.

:

6861 5627

Website

:

www.komatsu.com

Registered Activities

:

1. BUSINESS AND MANAGEMENT CONSULTANCY SERVICES

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

Issued Ordinary Capital*

:

$28,271,034.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 153,700

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$28,271,034.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 604,426,950.00 (FY2010)

Net Worth

:

SGD - SIN 345,639,689.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

415 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

789 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

379 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

253 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

978 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

KOMATSU LTD

SHAREHOLDER ID

:

S71UF0077K

NATIONALITY

:

JAPAN

ADDRESS

:

2-3-6 AKASAKA, MINATO-KU TOKYO, JAPAN

NO. OF ORD SHARES

:

153,700

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MASAAKI KANAYAMA

ADDRESS

:

381 TANGLIN ROAD #05-02 TANGLIN REGENCY SINGAPORE 247965

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/11/2008

01/08/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6202658N

 

NAME

:

KO YANG KUANG @ KOH CHONG TEK

ADDRESS

:

31 POH HUAT CRESCENT POH HUAT GARDEN SINGAPORE 546864

POSITION

:

 

DIRECTOR

DATE OF APPT

:

 

01/04/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1166826G

 

NAME

:

ADRIAN CHAN PENGEE

ADDRESS

:

700 LORONG 1 TOA PAYOH #08-02 TRELLIS TOWERS SINGAPORE 319773

POSITION

:

SECRETARY

DATE OF APPT

:

07/05/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1658599H

 

NAME

:

YEO TONG HIANG

ADDRESS

:

808 BEDOK RESERVOIR ROAD #07-07 BAYWATER SINGAPORE 479240

POSITION

:

DIRECTOR

DATE OF APPT

:

01/08/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6913026G

 

NAME

:

LIM TECK WEE

ADDRESS

:

27 JALAN ISHAK SINGAPORE 419358

POSITION

:

SECRETARY

DATE OF APPT

:

08/05/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7313306H

 

NAME

:

NOBORU SATO

ADDRESS

:

5-26-40 KAMIASAO ASAO-KU, KAWASAKI CITY, KANAGAWA, JAPAN 215-0021

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0211731

 

 

KEY PERSONNEL PROFILE

 

Name:

MASAAKI KANAYAMA

NRIC Number:

G6202658N

Available Address:

381 TANGLIN ROAD #05-02 TANGLIN REGENCY  SINGAPORE 247965

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

KOMATSU ASIA & PACIFIC PTE. LTD.

DIRECTOR

01/11/2008

-

-

2

KOMATSU ASIA & PACIFIC PTE. LTD.

MANAGING DIRECTOR

01/08/2010

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

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

No Trace

 

 

 

 

 

 

 

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 database. 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 1 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

1

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.

:

24545

 

Date of Filing

:

11/08/2009

 

Amount

:

7,744.25

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

QUEK SEOW HEONG

 

Last Update Date

:

12/08/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

19/07/2010

Date of Last AR

:

16/08/2010

Date of A/C Laid At Last AGM

:

31/03/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2010

% Change

MAR 2009

MAR 2008

MAR 2007

MAR 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

604,426,950

4.20

580,090,092

584,379,999

548,097,488

634,060,411

Profit/(Loss) Before Tax

33,889,877

-61.20

87,355,928

79,421,825

65,549,596

58,745,944

Profit After Tax attributable to Shareholders

25,036,895

-67.53

77,116,685

66,684,571

56,695,869

46,302,378

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

434,220,815

0.47

432,177,101

410,118,420

347,281,060

317,495,154

Current Assets

221,281,799

-19.49

274,836,908

312,858,262

244,031,525

244,019,872

Non Current Assets

212,939,016

35.34

157,340,193

97,260,158

103,249,535

73,475,282

 

 

 

 

 

 

 

Total Liabilities

88,581,125

2.57

86,362,148

123,633,126

102,669,141

134,082,814

Current Liabilities

88,581,125

2.76

86,204,932

123,406,673

102,669,141

134,082,814

Non Current Liabilities

0

-100.00

157,216

226,453

0

0

 

 

 

 

 

 

 

Shareholders' Funds

345,639,689

-0.05

345,814,951

286,485,292

244,611,918

183,412,339

Share Capital

23,948,086

-1.19

24,237,249

24,709,862

26,216,106

11,116,429

Total Reserves

321,691,603

0.04

321,577,702

261,775,430

218,395,812

172,295,910

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

MAR 2009

MAR 2008

MAR 2007

MAR 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

4.20

-0.73

6.62

-13.56

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.14

13.29

11.41

10.34

7.30

Return on Equity (%)

7.24

22.30

23.28

23.18

25.24

Return on Assets (%)

5.77

17.84

16.26

16.33

14.58

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.26

0.25

0.43

0.42

0.73

Current Debt/Equity (Times)

0.26

0.25

0.43

0.42

0.73

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.26

1.25

1.43

1.42

1.73

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.39

1.34

1.42

1.58

2.00

Fixed Assets Turnover (Times)

2.84

3.69

6.01

5.31

8.63

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.50

3.19

2.54

2.38

1.82

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 4.14 per cent in FY10 (FY09: 13.29 per cent). The company is now able to book in SGD - SIN 0.04 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.13 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.50 times in FY10 (FY09: 3.19 times). This means that the company has SGD - SIN 2.50 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 0.26 times in FY10, as compared with 0.25 times in FY09. This means that the company requires additional external financing of SGD - SIN 0.26 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 7.24 per cent for Subject in the current financial period, as compared to 22.30 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 5.77 per cent (FY09: 17.84 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 1.39 times in FY10 (FY09: 1.34 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.44.93

UK Pound

1

Rs.72.43

Euro

1

Rs.63.62

 

 

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.