MIRA INFORM REPORT
|
Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
CATERPILLAR S.A.R.L. - SINGAPORE BRANCH |
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Registered Office : |
7 Tractor Road Singapore 627968 |
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Country : |
Singapore |
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Financials (as on) : |
30.11.2009 |
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Date of Incorporation : |
27.08.1999 |
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Com. Reg. No.: |
S99FC5744H |
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Legal Form : |
Foreign Company Registered In Singapore |
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Line of Business : |
wholesale of industrial, construction and related machinery and equipment nec |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
S$1,000,000 |
|
Status : |
Excellent |
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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 – 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 |
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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
|
: |
CATERPILLAR S.A.R.L. -
SINGAPORE BRANCH |
|
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Registration No |
: |
S99FC5744H |
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Date of Registration |
: |
27/08/1999 |
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Former Name |
: |
NA |
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Date of Change of Name |
: |
NA |
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Type of Company |
: |
FOREIGN COMPANY
REGISTERED IN SINGAPORE |
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Registered Address |
: |
7 TRACTOR ROAD SINGAPORE
627968 |
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Date of Change of Address |
: |
NA |
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Contact No. |
: |
6662 8333 |
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Fax No. |
: |
6662 8302 |
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Website |
: |
www.cat.com |
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Registered Activities |
: |
1. WHOLESALE OF INDUSTRIAL,
CONSTRUCTION AND RELATED MACHINERY AND EQUIPMENT NEC 2. MANUFACTURE AND REPAIR
OF ENGINES AND TURBINES EXCEPT AIRCRAFT, VEHICLE AND CYCLE ENGINES |
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Issued Ordinary Capital* |
: |
NA |
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Issued Preference Capital |
: |
NA |
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Paid-Up Ordinary Capital |
: |
NA |
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Paid-Up Preference
Capital |
: |
NA |
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* Number of Shares
includes number of Issued Treasury Shares |
||
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
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Auditor |
: |
NA |
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Bankers / Financiers |
: |
NA |
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Turnover |
: |
SGD - SIN
5,520,201,910.00 (FY2009) |
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Net Worth |
: |
SGD - SIN 933,376,675.00
(FY2009) |
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No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
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S1000 / SME 500 / FG50
Ranking |
: |
|
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Compounded Annual Growth
Rate (CAGR) |
: |
NA |
Credit Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
OFFICER DETAILS
|
: |
CHRISTIANO
V. SCHENA |
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ADDRESS |
: |
LA
LUCHE DUCROT, ROUTE DE MESSERY, 74140 NERNIER, FRANCE |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
20/12/2000 |
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NATIONALITY |
: |
ITALIAN |
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I/C PASSPORT |
: |
303695T |
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||
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NAME |
: |
TORSTEN
U.G. BARTSCH |
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ADDRESS |
: |
272
RUE DE LA FRUITIERE 01170 CESSY, FRANCE |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
23/11/2010 |
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NATIONALITY |
: |
GERMAN |
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I/C PASSPORT |
: |
350131647 |
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||
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NAME |
: |
JILL
E. DAUGHERTY |
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ADDRESS |
: |
CHEMIN
DES HUTINS 35 1247 ANIERES, SWITZERLAND |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
22/07/2010 |
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NATIONALITY |
: |
AMERICAN |
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I/C PASSPORT |
: |
712599874 |
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NAME |
: |
GERARD
R. VITTECOQ |
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ADDRESS |
: |
248
ROUTE DE CORTENAZ, 74380 CRANVES-SALES, FRANCE |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
20/12/2000 |
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NATIONALITY |
: |
FRENCH |
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I/C PASSPORT |
: |
97HP29634 |
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NAME |
: |
PAOLO
FELLIN |
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ADDRESS |
: |
CHEMIN
FRANK-THOMAS 80 1208 GENEVA, SWITZERLAND |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
13/08/2004 |
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NATIONALITY |
: |
ITALIAN |
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I/C PASSPORT |
: |
AA4588711 |
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||
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NAME |
: |
JAMES
MICHAEL ROONEY |
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ADDRESS |
: |
1
CEDARWOOD GROVE SINGAPORE 738382 |
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POSITION |
: |
AGENT |
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DATE OF APPT |
: |
01/06/2008 |
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NATIONALITY |
: |
AMERICAN |
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I/C PASSPORT |
: |
G6032713R |
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||
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NAME |
: |
FOO
TOCK NGAN |
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ADDRESS |
: |
160
YUNG PING ROAD #09-41 SINGAPORE 610160 |
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POSITION |
: |
AGENT |
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DATE OF APPT |
: |
18/04/2005 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S1368900H |
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||
|
NAME |
: |
THOMAS
ZIHLMANN |
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ADDRESS |
: |
ROUTE
DE SEZEGNIN 32 1285 ATHENAZ SWITZERLAND |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
10/05/2010 |
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NATIONALITY |
: |
SWISS |
|
I/C PASSPORT |
: |
X1528602 |
KEY PERSONNEL PROFILE
|
CHRISTIANO V. SCHENA |
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NRIC Number: |
303695T |
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Available Address: |
LA LUCHE DUCROT, ROUTE DE
MESSERY, 74140 NERNIER, FRANCE |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
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CATERPILLAR S.A.R.L. -
SINGAPORE BRANCH |
DIRECTOR |
20/12/2000 |
- |
- |
Previous Business
|
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
|
Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
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
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
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Date of Last AR |
: |
NA |
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Date of A/C Laid At Last AGM |
: |
30/11/2009 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||||
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|
NOV 2009 |
% Change |
NOV 2008 |
NOV 2007 |
NOV 2006 |
NOV 2000 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
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Profit and Loss Key Figures |
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5,520,201,910 |
-34.82 |
8,469,546,956 |
6,967,827,319 |
5,638,688,767 |
0 |
|
|
Profit/(Loss) Before Tax |
17,475,348 |
-93.66 |
275,775,989 |
349,167,411 |
146,923,498 |
82,414,643 |
|
Profit After Tax attributable to
Shareholders |
17,126,107 |
-93.29 |
255,080,355 |
331,737,323 |
138,515,198 |
63,275,930 |
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Balance Sheet Key Figures |
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Total Assets |
1,479,419,918 |
-23.94 |
1,945,035,824 |
1,538,297,182 |
1,288,096,366 |
392,843,242 |
|
Current Assets |
1,349,800,639 |
-26.09 |
1,826,259,349 |
1,414,232,070 |
1,165,104,414 |
334,420,371 |
|
Non Current Assets |
129,619,279 |
9.13 |
118,776,475 |
124,065,112 |
122,991,952 |
58,422,871 |
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Total Liabilities |
546,043,244 |
-41.90 |
939,895,926 |
738,573,969 |
842,077,389 |
127,599,606 |
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Current Liabilities |
545,216,426 |
-41.93 |
938,908,004 |
737,517,010 |
840,960,743 |
124,935,287 |
|
Non Current Liabilities |
826,818 |
-16.31 |
987,922 |
1,056,959 |
1,116,646 |
2,664,319 |
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Shareholders' Funds |
933,376,675 |
-7.14 |
1,005,139,897 |
799,723,214 |
446,018,976 |
265,243,636 |
|
Share Capital |
0 |
NA |
0 |
0 |
0 |
0 |
|
Total Reserves |
933,376,675 |
-7.14 |
1,005,139,897 |
799,723,214 |
446,018,976 |
265,243,636 |
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FINANCIAL RATIOS
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NOV
2009 |
NOV
2008 |
NOV
2007 |
NOV
2006 |
NOV
2000 |
|
Growth % |
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|
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|
-34.82 |
21.55 |
23.57 |
NA |
NA |
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Profitability |
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|
Profit Margin (%) |
0.31 |
3.01 |
4.76 |
2.46 |
0.00 |
|
Return on Equity (%) |
1.83 |
25.38 |
41.48 |
31.06 |
23.86 |
|
Return on Assets (%) |
1.16 |
13.11 |
21.57 |
10.75 |
16.11 |
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Leverage |
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|
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Total Debt/Equity (Times) |
0.59 |
0.94 |
0.92 |
1.89 |
0.48 |
|
Current Debt/Equity (Times) |
0.58 |
0.93 |
0.92 |
1.89 |
0.47 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Total Asset To Total Equity (Times) |
1.59 |
1.94 |
1.92 |
2.89 |
1.48 |
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|
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Asset Management |
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Total Assets Turnover (Times) |
3.73 |
4.35 |
4.53 |
4.38 |
0.00 |
|
Fixed Assets Turnover (Times) |
42.59 |
71.31 |
56.16 |
45.85 |
0.00 |
|
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|
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|
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Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
2.48 |
1.95 |
1.92 |
1.39 |
2.68 |
FINANCIAL
COMMENTARY
Profitability
The company yielded a rate of
net profit on sales of 0.31 per cent in FY09 (FY08: 3.01 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 0.03 a year ago.
Liquidity
Current ratio stood at 2.48 times in FY09
(FY08: 1.95 times). This means that the company has SGD - SIN 2.48 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 0.59 times in FY09, as compared with 0.94 times in FY08. This means
that the company requires additional external financing of SGD - SIN 0.59 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 1.83 per cent for Subject in the current financial
period, as compared to 25.38 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 1.16 per cent (FY08: 13.11 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 3.73 times in FY09 (FY08: 4.35
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.44.79 |
|
UK Pound |
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
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.