MIRA INFORM REPORT

 

 

Report Date :           

19.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TOEPFER INTERNATIONAL-ASIA PTE LTD

 

 

Formerly Known As :

ALFRED C. TOEPFER INTERNATIONA L PTE LTD

 

 

Registered Office :

100 Beach Road #26-01 Shaw Towers Singapore 189702

 

 

Country :

Singapore

 

 

Financials (as on) :

30.11.2009

 

 

Date of Incorporation :

01.09.1976

 

 

Com. Reg. No.:

197601775R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale on a fee or contract basis

 

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

 

 

Payment Behaviour :

No Complaints

 

 

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)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Executive Summary

 

Company Name

:

TOEPFER INTERNATIONAL-ASIA PTE LTD

Registration No

:

197601775R

Date of Registration

:

01/09/1976

Former Name

:

ALFRED C. TOEPFER INTERNATIONA L PTE LTD Eff. date : 01/09/1976 Eff. date : 01/09/1976

Date of Change of Name

:

12/03/1988

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

100 BEACH ROAD #26-01 SHAW TOWERS SINGAPORE 189702

Date of Change of Address

:

08/01/2011

Contact No.

:

6293 2366

Fax No.

:

6292 7556

Website

:

NA

Registered Activities

:

WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

$17,201,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 17,201

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$17,201,000.00 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

:

2

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 4,515,176,418.00 (FY2009)

Net Worth

:

SGD - SIN 124,973,485.00 (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

76 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

917 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

48 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

156 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

308 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

9.36% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

ALFRED C. TOEPFER INTERNATIONAL NETHERLANDS B.V.

SHAREHOLDER ID

:

T04UF2175L

NATIONALITY

:

NETHERLANDS

ADDRESS

:

BOOMPJES 40, 3011 XB ROTTERDAM THE NETHERLANDS

NO. OF ORD SHARES

:

17,201

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

DIERK OVERHEU

ADDRESS

:

FOERSTERBERG 2A 21244 BUCHHOLZ GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

07/03/2009

NATIONALITY

:

GERMAN

I/C PASSPORT

:

1642302051

 

NAME

:

WOLFGANG WILHELM WESTPHAL

ADDRESS

:

491A RIVER VALLEY ROAD #03-09 VALLEY POINT SINGAPORE 248372

POSITION

:

DIRECTOR

DATE OF APPT

:

06/05/2010

NATIONALITY

:

GERMAN

I/C PASSPORT

:

G6427900P

 

NAME

:

YIP MOH SOW,CHRISTINA

ADDRESS

:

718 UPPER CHANGI ROAD EAST #02-09 CHANGI GREEN SINGAPORE 486849

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/1979

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1251595B

 

 

KEY PERSONNEL PROFILE

 

Name:

DIERK OVERHEU

NRIC Number:

1642302051

Available Address:

FOERSTERBERG 2A 21244 BUCHHOLZ GERMANY

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

TOEPFER INTERNATIONAL-ASIA (INVESTMENT) PTE. LTD.

DIRECTOR

16/12/2010

-

-

2

TOEPFER INTERNATIONAL-ASIA PTE LTD

DIRECTOR

07/03/2009

-

-

 

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 (%)

INTERMARE TRANSPORT PTE. LTD.

100

TOEPFER INTERNATIONAL-ASIA (INVESTMENT) PTE. LTD.

100

                                                                                                                       

 

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 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

Wef 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

592

 

Date of Filing

:

19/08/2005

 

Amount

:

USD 989,749.45

USD 5,500,000.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

RAIFFEISEN ZENTRALBANK OSTERREICH AG, SINGAPORE BRANCH

 

Last Update Date

:

07/11/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

28/04/2010

Date of Last AR

:

19/05/2010

Date of A/C Laid At Last AGM

:

30/11/2009

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

NOV 2009

% Change

NOV 2008

NOV 2007

NOV 2006

NOV 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

4,515,176,418

-40.23

7,553,636,734

4,411,955,398

3,213,800,154

3,157,222,881

Profit/(Loss) Before Tax

21,605,180

-83.08

127,693,140

85,225,656

23,928,120

42,887,830

Profit After Tax attributable to Shareholders

19,804,262

-83.49

119,985,937

80,674,691

22,125,535

38,353,089

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

485,068,085

-14.51

567,364,957

528,232,070

339,272,027

252,352,909

Current Assets

479,100,995

-14.30

559,055,123

508,519,777

317,323,561

247,643,435

Non Current Assets

5,967,090

-28.19

8,309,834

19,712,293

21,948,466

4,709,474

 

 

 

 

 

 

 

Total Liabilities

360,094,599

-8.84

395,013,515

397,465,052

270,398,923

201,006,332

Current Liabilities

360,094,599

-8.84

395,013,515

397,465,052

270,398,923

201,006,332

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

124,973,485

-27.49

172,351,443

130,767,017

68,873,105

51,346,577

Share Capital

14,582,330

3.32

14,113,170

15,099,420

15,952,080

16,641,250

Total Reserves

110,391,155

-30.24

158,238,273

115,667,597

52,921,025

34,705,327

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

NOV 2009

NOV 2008

NOV 2007

NOV 2006

NOV 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-40.23

71.21

37.28

1.79

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.44

1.59

1.83

0.69

1.21

Return on Equity (%)

15.85

69.62

61.69

32.13

74.69

Return on Assets (%)

4.08

21.15

15.27

6.52

15.20

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.88

2.29

3.04

3.93

3.91

Current Debt/Equity (Times)

2.88

2.29

3.04

3.93

3.91

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

3.88

3.29

4.04

4.93

4.91

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

9.31

13.31

8.35

9.47

12.51

Fixed Assets Turnover (Times)

756.68

909.00

223.82

146.42

670.40

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.33

1.42

1.28

1.17

1.23

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 9.36% (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 0.44 per cent in FY09 (FY08: 1.59 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 1.33 times in FY09 (FY08: 1.42 times). This means that the company has SGD - SIN 1.33 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 2.88 times in FY09, as compared with 2.29 times in FY08. This means that the company requires additional external financing of SGD - SIN 2.88 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 15.85 per cent for Subject in the current financial period, as compared to 69.62 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 4.08 per cent (FY08: 21.15 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 9.31 times in FY09 (FY08: 13.31 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.45.08

UK Pound

1

Rs.73.45

Euro

1

Rs.64.30

 

 

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.