MIRA INFORM REPORT

 

 

Report Date :

04.03.2011

 

IDENTIFICATION DETAILS

 

Name :

DORNIER MEDTECH ASIA PTE LTD

 

 

Formerly Known As :

DORNIER ASIA MEDICAL SYSTEMS PTE. LTD.

 

 

Registered Office :

2 Corporation Road #05-11/12 Corporation Place Singapore 618494

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

01.06.1994

 

 

Com. Reg. No.:

199403836G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other business support services activities (eg administration of loyalty programmes)

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

Payment Behaviour :

Unknown

Litigation :

--

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

:

DORNIER MEDTECH ASIA PTE LTD

Registration No

:

199403836G

Date of Registration

:

01/06/1994

Former Name

:

DORNIER ASIA MEDICAL SYSTEMS PTE. LTD.

Eff. date : 01/06/1994

Date of Change of Name

:

18/12/2001

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

2 CORPORATION ROAD #05-11/12 CORPORATION PLACE SINGAPORE 618494

Date of Change of Address

:

29/06/2007

Contact No.

:

6665 5788

Fax No.

:

6665  6711

Website

:

NA

Registered Activities

:

OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

DEVELOPMENT,MANUF & MARKETING OF HIGH TECHNOLOGY MEDICAL EQUIPMENT

Issued Ordinary Capital*

:

$6,000,000.00 SINGAPORE, DOLLARS,

NO. OF SHARE : 6,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$6,000,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 16,654,868.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (866,779.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

1.77% (5 years)

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

No Recommendation

 

SHAREHOLDER DETAILS

 

NAME

:

DORNIER MEDTECH GMBH

SHAREHOLDER ID

:

S94UF0633F

NATIONALITY

:

GERMANY

ADDRESS

:

ARGELSRIEDER FELD 7,D-82234 WESSLING

NO. OF ORD SHARES

:

3,000,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

DORNIER MEDTECH SYSTEMS GMBH

SHAREHOLDER ID

:

S94UF0758J

NATIONALITY

:

GERMANY

ADDRESS

:

ARGELSRIEDER FELD 7 D-82234 WESSLING

NO. OF ORD SHARES

:

3,000,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ENG KENG HUAK

ADDRESS

:

30 WESTWOOD CRESCENT SINGAPORE 648756

POSITION

:

DIRECTOR

DATE OF APPT

:

31/07/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1469779I

 

NAME

:

ENG KEEN HUAT

ADDRESS

:

43 RIPLEY CRESCENT SERANGOON GARDEN ESTATE SINGAPORE 556221

POSITION

:

DIRECTOR

DATE OF APPT

:

31/07/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1510617D

 

NAME

:

TAY KIN SIONG ELVIN

ADDRESS

:

35 HUME AVENUE #02-02 SYMPHONY HEIGHTS SINGAPORE 598735

POSITION

:

DIRECTOR

DATE OF APPT

:

01/05/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2555495G

 

NAME

:

HO MENG THIRD

ADDRESS

:

63 CHOA CHU KANG LOOP #07-03 NORTHVALE SINGAPORE 689669

POSITION

:

SECRETARY

DATE OF APPT

:

09/02/2006

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6883519D

 

 

KEY PERSONNEL PROFILE

 

Name:

ENG KENG HUAK

NRIC Number:

S1469779I

Available Address:

30 WESTWOOD CRESCENT  SINGAPORE 648756

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DORNIER MEDTECH ASIA PTE LTD

DIRECTOR

31/07/2002

-

-

2

DORNIER MEDTECH GMBH

DIRECTOR

15/07/2002

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AMS BIOMEDICAL PTE. LTD.

LIVE COMPANY

DIRECTOR

18/05/2005

04/01/2011

 

 

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

 

Clear

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

02/06/2010

Date of Last AR

:

22/06/2010

Date of A/C Laid At Last AGM

:

31/03/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2010

% Change

MAR 2009

MAR 2008

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

16,654,868

6.93

15,575,875

19,815,530

17,319,365

15,255,552

Profit/(Loss) Before Tax

942,002

200.62

313,357

1,113,883

834,777

941,287

Profit After Tax attributable to Shareholders

665,215

NA

(89,435)

1,113,883

834,777

941,287

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

7,057,136

-26.78

9,638,004

8,868,390

7,836,036

8,417,837

Current Assets

6,711,613

-21.84

8,586,471

7,636,175

7,314,584

7,681,089

Non Current Assets

345,523

-67.14

1,051,533

1,232,215

521,452

736,748

 

 

 

 

 

 

 

Total Liabilities

7,923,915

-28.90

11,144,328

10,274,343

10,343,262

11,789,614

Current Liabilities

7,719,334

-29.27

10,913,745

10,179,510

10,231,451

11,639,503

Non Current Liabilities

204,581

-11.28

230,583

94,833

111,811

150,111

 

 

 

 

 

 

 

Shareholders' Funds

(866,779)

NA

(1,506,324)

(1,405,953)

(2,507,226)

(3,371,777)

Share Capital

6,000,000

0.00

6,000,000

6,000,000

6,000,000

6,000,000

Total Reserves

(6,866,779)

NA

(7,506,324)

(7,405,953)

(8,507,226)

(9,371,777)

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

MAR 2009

MAR 2008

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

6.93

-21.40

NA

13.53

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

3.99

-0.57

5.62

4.82

6.17

Return on Equity (%)

-76.75

5.94

-79.23

-33.29

-27.92

Return on Assets (%)

9.43

-0.93

12.56

10.65

11.18

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-9.14

-7.40

-7.31

-4.13

-3.50

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-8.14

-6.40

-6.31

-3.13

-2.50

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.36

1.62

2.23

2.21

1.81

Fixed Assets Turnover (Times)

48.20

14.81

16.08

33.21

20.71

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.87

0.79

0.75

0.71

0.66

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 1.77% (5 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 3.99 per cent in FY10. The company is now able to book in SINGAPORE, DOLLARS 0.04 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 0.87 times in FY10 (FY09: 0.79 times). This means that the company has SINGAPORE, DOLLARS 0.87 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

FINANCIAL COMMENTARY

 

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. Subject is in net deficit position for FY10.

 

Efficiency Ratio

 

We are unable to comment on Subject's return on equity. Subject is in net deficit position for FY10.

 

Return on assets stood at 9.43 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 2.36 times in FY10 (FY09: 1.62 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.44.96

UK Pound

1

Rs.73.37

Euro

1

Rs.62.33

 

 

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.