MIRA INFORM REPORT

 

 

Report Date :           

13.05.2011

 

IDENTIFICATION DETAILS

 

Name :

ESKO-GRAPHICS PTE LTD

 

 

Formerly Known As :

BARCO GRAPHICS PTE LTD

 

 

Registered Office :

750c Chai Chee Road #01-07/08 Technopark @ Chai Chee Singapore 469003

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2007 (Company)

31.12.2009 (Group)

 

 

Date of Incorporation :

05.10.1993

 

 

Com. Reg. No.:

199306553C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Art and graphic design services

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$487,000

 

 

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

:

ESKO-GRAPHICS PTE LTD

Registration No

:

199306553C

Date of Registration

:

05/10/1993

Former Name

:

1.BARCO PTE LTD Eff. date : 05/10/1993 Eff. date : 05/10/1993

2.BARCO GRAPHICS PTE LTD Eff. date : 01/09/2000 Eff. date : 01/09/2000

Date of Change of Name

:

24/05/2002

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

750C CHAI CHEE ROAD #01-07/08 TECHNOPARK @ CHAI CHEE SINGAPORE 469003

Date of Change of Address

:

06/05/2002

Contact No.

:

6241 2126

Fax No.

:

6446 2090

Website

:

www.esko.com

Registered Activities

:

ART AND GRAPHIC DESIGN SERVICES

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

TAN, TEO & PARTNERS PAC

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 30,001,598.35 (FY2009)

Net Worth

:

SINGAPORE, DOLLARS 4,871,322.92 (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1270 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2000/2001)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$487,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

ESKO NV

SHAREHOLDER ID

:

T07UF2467H

NATIONALITY

:

BELGIUM

ADDRESS

:

9051 GENT (BELGIUM) KORTRIJKSESTEENWEG 1095, BELGIUM

NO. OF ORD SHARES

:

1,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CARSTEN NYGAARD KNUDSEN

ADDRESS

:

GOEDINGENSTRAAT 18 9051 GENT (AFSNEE), BELGIUM

POSITION

:

DIRECTOR

DATE OF APPT

:

24/06/2003

NATIONALITY

:

DANISH

I/C PASSPORT

:

202039676

 

NAME

:

SOH CHEI YONG

ADDRESS

:

39 JALAN LIMAU KASTURI CHANGI COURT SINGAPORE 468436

POSITION

:

DIRECTOR

DATE OF APPT

:

29/03/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1595434E

 

NAME

:

YIP MING FAI

ADDRESS

:

29 TOH TUCK DRIVE SINGAPORE 596888

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2567316F

 

NAME

:

JEAN-PIERRE MARC DE MOOR

ADDRESS

:

5 ELIAS GREEN #06-02 SINGAPORE 519961

POSITION

:

DIRECTOR

DATE OF APPT

:

01/08/2000

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2723740A

 

 

KEY PERSONNEL PROFILE

 

Name:

JEAN-PIERRE MARC DE MOOR

NRIC Number:

S2723740A

Available Address:

4 FLORA DRIVE #07-55 CARISSA PARK CONDOMINIUM  SINGAPORE 507026

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ESKO-GRAPHICS PTE LTD

DIRECTOR

01/08/2000

-

-

 

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

 

Date of Last AGM

:

23/04/2010

Date of Last AR

:

23/04/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

30,001,598

-10.39

33,480,566

34,146,040

0

0

Profit/(Loss) Before Tax

3,623,071

301.31

902,806

3,140,094

0

0

Profit After Tax attributable to Shareholders

3,556,824

630.05

487,200

2,373,469

0

0

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

16,502,800

-19.50

20,501,288

20,857,503

0

0

Current Assets

16,281,774

-19.74

20,287,375

20,494,706

0

0

Non Current Assets

221,026

3.33

213,912

362,796

0

0

 

 

 

 

 

 

 

Total Liabilities

11,631,477

-33.49

17,488,524

16,296,078

0

0

Current Liabilities

11,540,483

-33.82

17,437,324

16,225,059

0

0

Non Current Liabilities

90,994

77.72

51,200

71,019

0

0

 

 

 

 

 

 

 

Shareholders' Funds

4,871,323

61.69

3,012,764

4,561,424

0

0

Share Capital

1,205,476

-2.59

1,237,559

1,233,036

0

0

Total Reserves

3,665,847

106.50

1,775,204

3,328,389

0

0

FINANCIAL RATIOS

 

 

Group

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-10.39

-1.95

NA

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

11.86

1.46

6.95

NA

NA

Return on Equity (%)

73.02

16.17

52.03

NA

NA

Return on Assets (%)

21.55

2.38

11.38

NA

NA

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.39

5.80

3.57

NA

NA

Current Debt/Equity (Times)

2.37

5.79

3.56

NA

NA

Long Term Debt To Equity (Times)

0.02

0.02

0.02

NA

NA

Total Asset To Total Equity (Times)

3.39

6.80

4.57

NA

NA

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.82

1.63

1.64

NA

NA

Fixed Assets Turnover (Times)

135.74

156.52

94.12

NA

NA

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.41

1.16

1.26

NA

NA

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2007

% Change

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

34,145,497

-4.26

35,665,073

33,513,428

Profit/(Loss) Before Tax

3,140,044

91.90

1,636,270

1,258,061

Profit After Tax attributable to Shareholders

2,373,431

109.78

1,131,408

692,133

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

20,857,171

4.00

20,054,461

17,104,438

Current Assets

20,494,380

3.83

19,739,232

16,659,558

Non Current Assets

362,791

15.09

315,229

444,880

 

 

 

 

 

Total Liabilities

16,295,819

-6.05

17,344,614

15,474,563

Current Liabilities

16,224,801

-6.46

17,344,614

15,474,563

Non Current Liabilities

71,018

NA

0

0

 

 

 

 

 

Shareholders' Funds

4,561,352

68.33

2,709,848

1,629,874

Share Capital

1,233,016

3.67

1,189,340

1,228,095

Total Reserves

3,328,336

118.90

1,520,508

401,779

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

Year-on-Year Growth

-4.26

6.42

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

6.95

3.17

2.07

Return on Equity (%)

52.03

41.75

42.47

Return on Assets (%)

11.38

5.64

4.05

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

3.57

6.40

9.49

Current Debt/Equity (Times)

3.56

6.40

9.49

Long Term Debt To Equity (Times)

0.02

0.00

0.00

Total Asset To Total Equity (Times)

4.57

7.40

10.49

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

1.64

1.78

1.96

Fixed Assets Turnover (Times)

94.12

113.14

75.33

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.26

1.14

1.08

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 11.86 per cent in FY09 (FY08: 1.46 per cent). The group is now able to book in SINGAPORE, DOLLARS 0.12 of profit for every SINGAPORE, DOLLARS of sales in FY09, as compared with SINGAPORE, DOLLARS 0.01 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.41 times in FY09 (FY08: 1.16 times). This means that the group has SINGAPORE, DOLLARS 1.41 of current assets for every SINGAPORE, DOLLARS 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 2.39 times in FY09, as compared with 5.80 times in FY08. This means that the group requires additional external financing of SINGAPORE, DOLLARS 2.39 for every SINGAPORE, DOLLARS 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 73.02 per cent for Subject in the current financial period, as compared to 16.17 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 21.55 per cent (FY08: 2.38 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 1.82 times in FY09 (FY08: 1.63 times). This ratio measures the group'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%)

 

 

 

 

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.