MIRA INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
STMICROELECTRONICS ASIA PACIFIC PTE LTD |
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Formerly Known As : |
SGS-THOMSON MICROELECTRONICS |
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Registered Office : |
5a |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
22.06.1994 |
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Com. Reg. No.: |
199404407W |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Manufacture of printed circuit boards without electronic
parts |
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 : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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|
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 |
Executive
Summary
Credit Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
|
: |
STMICROELECTRONICS N.V. |
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SHAREHOLDER ID |
: |
S69UF0067J |
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NATIONALITY |
: |
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ADDRESS |
: |
WTC SCHIPHOL AIRPORT |
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NO. OF ORD SHARES |
: |
13,982,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
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OFFICER DETAILS
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: |
FRANCOIS
PHILIPPE GUIBERT |
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ADDRESS |
: |
1
LADY HILL ROAD #03-01 LADYHILL, THE |
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POSITION |
: |
DIRECTOR MANAGER |
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DATE OF APPT |
: |
02/10/2006 02/10/2006 |
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NATIONALITY |
: |
FRENCH |
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I/C PASSPORT |
: |
07BC97831 |
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NAME |
: |
SEE
AH BAH |
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ADDRESS |
: |
18 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
02/10/2006 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S0234953A |
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||
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NAME |
: |
CHARLIE
LOH WHY SAY |
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ADDRESS |
: |
16 SIMEI
RISE #06-42 CHANGI RISE CONDOMINIUM |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
16/09/1994 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S0311127Z |
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||
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NAME |
: |
RENATO
SILVIO SIRTORI |
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ADDRESS |
: |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
22/06/1994 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S2612442E |
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||
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NAME |
: |
MARCO
LUCIANO CASSIS |
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ADDRESS |
: |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
03/01/2011 |
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NATIONALITY |
: |
ITALIAN |
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I/C PASSPORT |
: |
YA0372449 |
KEY PERSONNEL PROFILE
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RENATO SILVIO SIRTORI |
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NRIC Number: |
S2612442E |
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Available Address: |
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Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
|
DIRECTOR |
21/04/1995 |
- |
- |
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2 |
STMICROELECTRONICS ASIA
PACIFIC PTE LTD |
DIRECTOR |
22/06/1994 |
- |
- |
|
3 |
STMICROELECTRONICS PTE LTD |
DIRECTOR |
21/03/1989 |
- |
- |
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4 |
STMICROELECTRONICS PTE LTD |
MANAGER |
31/07/1995 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
|
NF SINGAPORE PRIVATE LIMITED |
GAZETTED TO BE STRUCK OFF |
DIRECTOR |
26/07/2008 |
- |
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2 |
NUMONYX |
LIVE COMPANY |
DIRECTOR |
18/12/2006 |
19/02/2011 |
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3 |
NUMONYX PTE. LTD. |
LIVE COMPANY |
DIRECTOR |
12/12/2006 |
22/02/2011 |
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4 |
ST-ERICSSON |
LIVE COMPANY |
DIRECTOR |
09/05/2008 |
17/02/2011 |
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5 |
STMICROELECTRONICS ASIA PACIFIC
PTE LTD |
LIVE COMPANY |
SHAREHOLDER |
- |
21/02/2011 |
Bankruptcy Record
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Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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KEY PERSONNEL PROFILE
Litigation Search – Writ of Summons
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Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE
COMPANIES
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Company |
Shareholdings (%) |
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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. 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 2 litigation
suits filed against Subject.
The details are as follows:
|
Court |
: |
Magistrate
Court |
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Case
No. |
: |
18825 |
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Date
of Filing |
: |
29/07/2008 |
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Amount
|
: |
21,000.00 |
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Cause |
: |
Contract
- Others |
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Case
Status |
: |
CONCLUDED |
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Plaintiff |
: |
YEO
KIM PUAY CHAI
KOW |
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Last
Update Date |
: |
30/09/2009 |
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2) |
Court |
: |
Magistrate
Court |
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Case
No. |
: |
12965 |
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Date
of Filing |
: |
24/07/1996 |
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Amount
|
: |
1,767.48 |
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Cause |
: |
Contracts
- |
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Case
Status |
: |
PENDING |
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Plaintiff |
: |
CULINA
PTE LTD |
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Last
Update Date |
: |
07/02/2007 |
COMPLIANCE
|
Date of Last AGM |
: |
|
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Date of Last AR |
: |
23/07/2010 |
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Date of A/C Laid At Last AGM |
: |
31/12/2009 |
FINANCIAL HIGHLIGHTS
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Financial Figures |
||||||
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|
DEC 2009 |
% Change |
DEC 2008 |
DEC 2007 |
DEC 2006 |
DEC 2005 |
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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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4,483,580,537 |
-26.78 |
6,123,054,411 |
7,322,704,929 |
7,537,365,751 |
6,911,813,383 |
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|
Profit/(Loss) Before Tax |
15,759,090 |
-87.79 |
129,056,239 |
264,520,697 |
79,483,077 |
107,657,618 |
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Profit After Tax attributable to Shareholders |
17,969,437 |
-84.58 |
116,550,768 |
252,054,986 |
53,296,595 |
92,870,985 |
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Balance Sheet Key Figures |
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Total Assets |
1,066,528,091 |
1.89 |
1,046,761,435 |
1,948,518,596 |
1,734,356,539 |
1,714,856,104 |
|
Current Assets |
1,048,197,781 |
1.94 |
1,028,267,785 |
1,923,213,023 |
1,617,235,841 |
1,577,455,241 |
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Non Current Assets |
18,330,310 |
-0.88 |
18,493,650 |
25,305,573 |
117,120,698 |
137,400,863 |
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Total Liabilities |
695,271,279 |
12.22 |
619,536,547 |
1,467,404,673 |
1,429,478,658 |
1,366,897,789 |
|
Current Liabilities |
695,271,279 |
12.22 |
619,536,547 |
1,464,698,460 |
1,411,894,790 |
1,363,946,462 |
|
Non Current Liabilities |
0 |
NA |
0 |
2,706,213 |
17,583,868 |
2,951,327 |
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Shareholders' Funds |
371,256,813 |
-13.10 |
427,224,887 |
481,113,922 |
304,877,881 |
347,958,314 |
|
Share Capital |
12,237,669 |
3.13 |
11,866,300 |
12,637,009 |
13,323,753 |
14,015,055 |
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Total Reserves |
359,019,144 |
-13.56 |
415,358,587 |
468,476,913 |
291,554,128 |
333,943,259 |
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FINANCIAL RATIOS
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DEC
2009 |
DEC
2008 |
DEC
2007 |
DEC
2006 |
DEC
2005 |
|
Growth % |
|
|
|
|
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|
-26.78 |
-16.38 |
-2.85 |
9.05 |
NA |
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Profitability |
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Profit Margin (%) |
0.40 |
1.90 |
3.44 |
0.71 |
1.34 |
|
Return on Equity (%) |
4.84 |
27.28 |
52.39 |
17.48 |
26.69 |
|
Return on Assets (%) |
1.68 |
11.13 |
12.94 |
3.07 |
5.42 |
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Leverage |
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Total Debt/Equity (Times) |
1.87 |
1.45 |
3.05 |
4.69 |
3.93 |
|
Current Debt/Equity (Times) |
1.87 |
1.45 |
3.04 |
4.63 |
3.92 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.01 |
0.06 |
0.01 |
|
Total Asset To Total Equity (Times) |
2.87 |
2.45 |
4.05 |
5.69 |
4.93 |
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Asset Management |
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Total Assets Turnover (Times) |
4.20 |
5.85 |
3.76 |
4.35 |
4.03 |
|
Fixed Assets Turnover (Times) |
244.60 |
331.09 |
289.37 |
64.36 |
50.30 |
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Liquidity |
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|
Current Ratio (Times) |
1.51 |
1.66 |
1.31 |
1.15 |
1.16 |
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FINANCIAL
COMMENTARY
Profitability
The company yielded a rate of
net profit on sales of 0.40 per cent in FY09 (FY08: 1.90 per cent). The company
is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in
FY09, as compared with SGD - SIN 0.02 a year ago.
Liquidity
Current ratio stood at 1.51 times in FY09
(FY08: 1.66 times). This means that the company has SGD - SIN 1.51 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 1.87 times in FY09, as compared with 1.45 times in FY08. This means
that the company requires additional external financing of SGD - SIN 1.87 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 4.84 per cent for Subject in the current financial
period, as compared to 27.28 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 1.68 per cent (FY08: 11.13 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 4.20 times in FY09 (FY08: 5.85
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.44.99 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.80 |
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 |
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.