MIRA INFORM REPORT

 

 

Report Date :           

03.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DU PONT COMPANY (SINGAPORE) PTE. LTD.

 

 

Registered Office :

1 Harbourfront Place #11-01 Harbourfront Tower One Singapore 098633

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

19.08.2002

 

 

Com. Reg. No.:

200207203c

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture Of Other Biological Products And Preparations For Human Use

 

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 :

Excellent

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

:

DU PONT COMPANY (SINGAPORE) PTE. LTD.

Registration No

:

200207203C

Date of Registration

:

19/08/2002

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 HARBOURFRONT PLACE #11-01 HARBOURFRONT TOWER ONE SINGAPORE 098633

Date of Change of Address

:

05/05/2003

Contact No.

:

6586 3688

Fax No.

:

6586 3696

Website

:

www.dupont.com.sg

Registered Activities

:

1. MANUFACTURE OF OTHER BIOLOGICAL PRODUCTS AND PREPARATIONS FOR HUMAN USE

MFG & SALE OF CHEMICALS, CHEMICAL PRODS, MEDICAL, PETROCHEMICAL PRODS ETC

2. BUSINESS AND MANAGEMENT CONSULTANCY SERVICES

ADMIN SERVICES TO RELATED COMPANIES

Issued Ordinary Capital*

:

$89,067,269.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 44,844,028

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$89,067,269.00 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

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 1,622,596,401.00 (FY2010)

Net Worth

:

SGD - SIN 908,810,906.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

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

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

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

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

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

Compounded Annual Growth Rate (CAGR)

:

26.14% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

DU PONT CHEMICAL AND ENERGY OPERATIONS, INC

SHAREHOLDER ID

:

T03UF0807F

NATIONALITY

:

UNITED STATES

ADDRESS

:

D-8045 1007 MARKET STREET WILMINGTON, DELAWARE 19898

NO. OF ORD SHARES

:

44,844,028

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KOH KIAN TECK PETER

ADDRESS

:

56 HONG LEE PLACE SINGAPORE 548882

POSITION

:

DIRECTOR

DATE OF APPT

:

19/08/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0017705I

 

NAME

:

ROHAIZAN MUSTAFFA

ADDRESS

:

97 THOMSON RIDGE THOMSON RIDGE ESTATE SINGAPORE 574679

POSITION

:

DIRECTOR

DATE OF APPT

:

19/08/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0226808F

 

NAME

:

HO HSING CHAN

ADDRESS

:

15 LEWIS ROAD SINGAPORE 258600

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

20/05/2005

20/05/2005

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2173034C

 

NAME

:

LIM CHER TONG

ADDRESS

:

328 CLEMENTI AVENUE 2 #01-198 SINGAPORE 120328

POSITION

:

DIRECTOR

DATE OF APPT

:

19/08/2002

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2550549B

 

NAME

:

LIM CHOON MUI

ADDRESS

:

12 JALAN RENGKAM TAI PENG GARDENS SINGAPORE 537569

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7044728B

 

NAME

:

LIM I-AN

ADDRESS

:

57A DUCHESS AVENUE SINGAPORE 269122

POSITION

:

SECRETARY

DATE OF APPT

:

29/07/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7107421H

 

 

KEY PERSONNEL PROFILE

 

Name:

HO HSING CHAN

NRIC Number:

S2173034C

Available Address:

15 LEWIS ROAD  SINGAPORE 258600

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

DU PONT COMPANY (SINGAPORE) PTE. LTD.

DIRECTOR

20/05/2005

-

-

2

DU PONT COMPANY (SINGAPORE) PTE. LTD.

MANAGING DIRECTOR

20/05/2005

-

-

3

DUPONT PERFORMANCE ELASTOMERS PTE. LTD.

DIRECTOR

26/02/2007

-

-

 

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

:

10/06/2011

Date of Last AR

:

22/06/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

1,622,596,401

20.08

1,351,245,235

1,319,223,529

1,071,511,675

640,921,620

Profit/(Loss) Before Tax

386,348,222

48.95

259,376,002

184,099,785

150,381,909

8,735,692

Profit After Tax attributable to Shareholders

375,507,127

48.05

253,629,682

181,260,903

142,813,228

35,768,176

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

877,037,000

7.40

816,595,903

566,073,293

489,603,708

264,825,825

Current Assets

1,148,490,690

51.62

757,473,849

492,904,362

341,729,666

184,615,566

Non Current Assets

44,937,409

-23.99

59,122,054

73,168,931

147,874,042

80,210,259

 

 

 

 

 

 

 

Total Liabilities

209,162,000

-3.70

217,198,972

219,511,025

313,566,116

301,175,431

Current Liabilities

284,617,192

31.04

217,198,972

219,498,326

312,270,860

298,838,625

Non Current Liabilities

0

NA

0

12,699

1,295,256

2,336,806

 

 

 

 

 

 

 

Shareholders' Funds

908,810,906

51.62

599,396,930

346,562,269

176,037,592

(36,349,606)

Share Capital

80,086,941

-6.49

85,641,853

83,042,934

88,436,524

21,862,995

Total Reserves

828,723,965

61.31

513,755,077

263,519,335

87,601,068

(58,212,601)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

20.08

2.43

23.12

67.18

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

23.14

18.77

13.74

13.33

5.58

Return on Equity (%)

41.32

42.31

52.30

81.13

-98.40

Return on Assets (%)

42.82

31.06

32.02

29.17

13.51

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.23

0.36

0.63

1.78

-8.29

Current Debt/Equity (Times)

0.31

0.36

0.63

1.77

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.01

0.00

Total Asset To Total Equity (Times)

0.97

1.36

1.63

2.78

-7.29

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.85

1.65

2.33

2.19

2.42

Fixed Assets Turnover (Times)

36.11

22.86

18.03

7.25

7.99

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

4.04

3.49

2.25

1.09

0.62

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 26.14% (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 23.14 per cent in FY10 (FY09: 18.77 per cent). The company is now able to book in SGD - SIN 0.23 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.19 a year ago.

 

 

Liquidity

 

Current ratio stood at 4.04 times in FY10 (FY09: 3.49 times). This means that the company has SGD - SIN 4.04 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 0.23 times in FY10, compared with 0.36 times in FY09. This means that the company requires additional external financing of SGD - SIN 0.23 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 41.32 per cent for Subject in the current financial period, as compared to 42.31 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 42.82 per cent (FY09: 31.06 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 1.85 times in FY10 (FY09: 1.65 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.49.25

UK Pound

1

Rs.78.73

Euro

1

Rs.67.64

 

 

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%)

 

 

 

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