MIRA INFORM REPORT

 

 

Report Date :

30.03.2011

 

IDENTIFICATION DETAILS

 

Name :

KOHLER CO

 

 

Registered Office :

7 Jurong Pier Road Singapore 619159

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

30.03.1978

 

 

Com. Reg. No.:

S78FC2703H

 

 

Legal Form :

Foreign Company Registered In Singapore

 

 

Line of Business :

Iron And Steel Foundries Business Services

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – 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

:

KOHLER CO

Registration No

:

S78FC2703H

Date of Registration

:

30/03/1978

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

FOREIGN COMPANY REGISTERED IN SINGAPORE

Registered Address

:

7 JURONG PIER ROAD SINGAPORE 619159

Date of Change of Address

:

22/10/1996

Contact No.

:

6264 6422

Fax No.

:

6264 6455

Website

:

NA

Registered Activities

:

1. IRON AND STEEL FOUNDRIES

BUSINESS SERVICES NEC

2. BUILDING-CLEANING SERVICES (INCLUDING JANITORIAL SERVICE)

CONSTRUCTING,MANAGING & OPERATING OF EQUIPMENTS

Issued Ordinary Capital*

:

NA

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

NA

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

:

NA

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 84,649,781.00 (FY2009)

Net Worth

:

SGD - SIN (14,968,259.00) (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

14.24% (4 years)

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

No Recommendation

 

SHAREHOLDER DETAILS

 

No Trace

 

OFFICER DETAILS

 

NAME

:

JEFFREY L. BLEUSTEIN

ADDRESS

:

7417 ORANGEWOOD LANE, BOCA RATON, FL 33433, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/04/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

025723017

 

NAME

:

LAURA E. KOHLER

ADDRESS

:

722 TREEHOUSE LANE KOHLER WI 53044 U.S.A.

POSITION

:

DIRECTOR

DATE OF APPT

:

29/04/1999

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

026045481

 

NAME

:

K. DAVID KOHLER

ADDRESS

:

1112 WEST RIVERSIDE DRIVE KOHLER, WI 53044, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/04/1999

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

026073452

 

NAME

:

JEFFREY ARTHUR JOERRES

ADDRESS

:

10295 NORTH RANGE LINE COURT, MEQUON, WI 53092 UNITED STATES OF AMERICA

POSITION

:

DIRECTOR

DATE OF APPT

:

21/10/2005

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

027449346

 

NAME

:

JEFFREY P. CHENEY

ADDRESS

:

N6315 NORTH 61ST STREET, SHEBOYGAN WI 53083, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

04/05/2006

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

028461447

 

NAME

:

GLEN H. HINER

ADDRESS

:

3235 MACOMBER DRIVE PO BOX 1560, PEBBLE BEACH, CA 93953, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

23/02/2000

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

15520531

 

NAME

:

WILLIAM C. FOOTE

ADDRESS

:

6310 NORTH LAKE DRIVE WHITEFISH BAY, WI 53217, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/04/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

213417635

 

 

OFFICER DETAILS

 

NAME

:

RACHEL D. KOHLER

ADDRESS

:

1900 NORTH HOWE STREET CHICAGO, IL 60614 USA

POSITION

:

DIRECTOR

DATE OF APPT

:

29/04/1999

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

26484257

 

NAME

:

HERBERT VOLLRATH KOHLER, JR.

ADDRESS

:

441 GREEN TREE ROAD KOHLER WI 53044

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/1967

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

28128931

 

NAME

:

NATALIE A. BLACK

ADDRESS

:

9934 WEEKS LANE, OOSTBURG WI 53070, USA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/04/1987

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

28519984

 

NAME

:

LIM OON TEIK EUGENE

ADDRESS

:

11 REDWOOD AVENUE EDEN PARK SINGAPORE 276721

POSITION

:

AGENT

DATE OF APPT

:

30/10/1996

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1301334I

 

NAME

:

TENG CHEE MIN

ADDRESS

:

30 PEAKVILLE AVENUE PEAKVIEW ESTATE SINGAPORE 487799

POSITION

:

AGENT

DATE OF APPT

:

01/10/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6805189D

 

KEY PERSONNEL PROFILE

 

Name:

HERBERT VOLLRATH KOHLER, JR.

NRIC Number:

28128931

Available Address:

441 GREEN TREE ROAD KOHLER WI 53044

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

KOHLER CO

DIRECTOR

01/03/1967

-

-

 

 

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

 

Clear

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

29/04/2010

Date of Last AR

:

NA

Date of A/C Laid At Last AGM

:

31/12/2009

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

84,649,781

-25.15

113,095,589

86,698,978

54,595,495

49,699,059

Profit/(Loss) Before Tax

4,598,203

-38.99

7,537,261

3,894,499

3,571,975

3,237,721

Profit After Tax attributable to Shareholders

4,598,203

-38.99

7,537,261

3,894,499

3,571,975

3,237,721

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

37,710,894

-16.22

45,011,290

41,790,964

25,152,100

30,187,165

Current Assets

33,975,605

-17.58

41,224,446

37,461,997

20,233,113

24,638,656

Non Current Assets

3,735,289

-1.36

3,786,844

4,328,967

4,918,987

5,548,509

 

 

 

 

 

 

 

Total Liabilities

52,679,153

-17.67

63,983,982

70,022,722

59,024,222

69,574,045

Current Liabilities

52,679,153

-17.67

63,983,982

70,022,722

59,024,222

69,574,045

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

(14,968,259)

NA

(18,972,691)

(28,231,757)

(33,872,121)

(39,386,880)

Share Capital

0

NA

0

0

0

0

Total Reserves

(14,968,259)

NA

(18,972,691)

(28,231,757)

(33,872,121)

(39,386,880)

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-25.15

30.45

58.80

9.85

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.43

6.66

4.49

6.54

6.51

Return on Equity (%)

-30.72

-39.73

-13.79

-10.55

-8.22

Return on Assets (%)

12.19

16.75

9.32

14.20

10.73

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-3.52

-3.37

-2.48

-1.74

-1.77

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)

-2.52

-2.37

-1.48

-0.74

-0.77

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.24

2.51

2.07

2.17

1.65

Fixed Assets Turnover (Times)

22.66

29.87

20.03

11.10

8.96

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.64

0.64

0.53

0.34

0.35

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 14.24% (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 5.43 per cent in FY09 (FY08: 6.66 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.07 a year ago.

 

Liquidity

Current ratio stood at 0.64 times in FY09 (FY08: 0.64 times). This means that the company has SGD - SIN 0.65 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.

 

FINANCIAL COMMENTARY

 

Leverage

We are unable to comment on Subject's leverage as Subject is in net deficit position for FY2009.

 

 

Efficiency Ratio

 

We are unable to comment on Subject's return on equity as Subject is in net deficit position for FY2009.

 

Return on assets stood at 12.19 per cent (FY08: 16.75 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 2.24 times in FY09 (FY08: 2.51 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.44.67

UK Pound

1

Rs.71.63

Euro

1

Rs.63.09

 

 

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.