MIRA INFORM REPORT

 

 

Report Date :           

28.11.2011

 

IDENTIFICATION DETAILS

 

Name :

EPCOS PTE LTD

 

 

 

 

Formerly Known As :

Siemens Matsushita Components Pte. Ltd

 

 

                             

 

Registered Office :

80 Robinson Road #17-02 Singapore 068898

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

31.03.2011

 

 

 

 

Date of Incorporation :

17.01.1997

 

 

 

 

Com. Reg. No.:

199700383g

 

 

 

 

Legal Form :

Limited Private Company

 

 

 

 

Line of Business :

Manufacture of Telecommunications Apparatus

 

 

 

 

No. of Employees :

Not Available

 

 

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

:

EPCOS PTE LTD

Registration No

:

199700383G

Date of Registration

:

17/01/1997

Former Name

:

SIEMENS MATSUSHITA COMPONENTS PTE. LTD. Eff. date : 17/01/1997 Eff. date : 17/01/1997

Date of Change of Name

:

01/07/1999

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

80 ROBINSON ROAD #17-02 SINGAPORE 068898

Operative Address

:

166, Kallang Way, Singapore 349249

Date of Change of Address

:

29/06/1997

Contact No.

:

6841 2011

Fax No.

:

6841 2055

Website

:

www.epcos.com.sg

Registered Activities

:

1. MANUFACTURE OF TELECOMMUNICATIONS APPARATUS (EG PBX EQUIPMENT, TELEPHONES EXCEPT CELLULAR)

MANUF/REPAIR INDUST/COMMERCIAL ELECTRONIC PRODS NE

2. MANUFACTURE OF COMPUTERS AND PERIPHERAL EQUIPMENT NEC

Issued Ordinary Capital*

:

$15,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 15,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$15,000,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 650,818,380.00 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 221,387,503.50 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

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

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

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

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

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

Compounded Annual Growth Rate (CAGR)

:

5.74% (4 years)

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

EPCOS AG (FORMERLY SIEMENS MATSUSHITA COMPONENTS VERWALTUNGSGESELLSCHAFT MBH)

SHAREHOLDER ID

:

S97UF0295B

NATIONALITY

:

GERMANY

ADDRESS

:

FINANZIERUNG BETEILIGUNGEN POSTFACH 80 17 09 VERSICHERUNGEN D-81617 MUCHEN GERMANY

NO. OF ORD SHARES

:

15,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

OFFICER DETAILS

 

NAME

:

AUGUSTIN MARIA BAUMER

ADDRESS

:

BERGSTRASSE 24 85567 GRAFING GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

31/01/1997

NATIONALITY

:

GERMAN

I/C PASSPORT

:

811412907

 

NAME

:

WONG FOOK CHOY SUNNY

ADDRESS

:

70 JALAN SIMPANG BEDOK CANARY PARK SINGAPORE 488205

POSITION

:

SECRETARY

DATE OF APPT

:

18/06/1997

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1205238C

 

NAME

:

LIAO POH TIM

ADDRESS

:

69 RICHARDS AVENUE SINGAPORE 546477

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

12/04/2002

19/07/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2511300D

 

NAME

:

ONG BENG HONG

ADDRESS

:

5 DUBLIN ROAD SINGAPORE 239788

POSITION

:

SECRETARY

DATE OF APPT

:

26/02/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2621789Z

 

NAME

:

KLAUS UNTERWEGER

ADDRESS

:

93 CASHEW ROAD #05-02 CASHEW HEIGHTS CONDOMINIUM SINGAPORE 679664

POSITION

:

DIRECTOR

DATE OF APPT

:

31/08/2000

NATIONALITY

:

AUSTRIAN

I/C PASSPORT

:

S2749838H

 

 

 

KEY PERSONNEL PROFILE

 

Name:

AUGUSTIN MARIA BAUMER

NRIC Number:

811412907

Available Address:

BERGSTRASSE 24 85567 GRAFING GERMANY

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

EPCOS PTE LTD

DIRECTOR

31/01/1997

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

SOLARWORLD ASIA PACIFIC PTE. LTD.

LIVE COMPANY

DIRECTOR

29/03/1996

05/10/2011

 

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

:

15/07/2011

Date of Last AR

:

02/08/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2011

% Change

MAR 2010

SEP 2009

SEP 2008

SEP 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

650,818,380

113.97

304,166,373

504,398,969

486,203,042

520,543,630

Profit/(Loss) Before Tax

47,894,486

132.65

20,586,362

23,988,887

76,748,599

80,259,220

Profit After Tax attributable to Shareholders

47,910,294

121.59

21,621,441

23,332,535

75,934,717

122,839,150

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

333,908,894

-9.97

370,878,343

413,906,355

390,995,865

321,769,113

Current Assets

221,069,577

-5.62

234,239,895

294,146,019

274,462,451

261,621,741

Non Current Assets

112,839,317

-17.42

136,638,448

119,760,336

116,533,414

60,147,372

 

 

 

 

 

 

 

Total Liabilities

112,521,390

-9.98

124,996,287

127,992,760

91,682,476

65,410,038

Current Liabilities

106,238,390

-10.46

118,650,713

122,263,682

86,404,963

60,578,940

Non Current Liabilities

6,283,001

-0.99

6,345,574

5,729,078

5,277,513

4,831,098

 

 

 

 

 

 

 

Shareholders' Funds

221,387,504

-9.96

245,882,056

285,913,596

299,313,389

256,359,076

Share Capital

14,535,038

-11.59

16,440,083

16,558,896

17,538,722

16,925,205

Total Reserves

206,852,466

-9.85

229,441,973

269,354,700

281,774,667

239,433,871

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

SEP 2009

SEP 2008

SEP 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

113.97

-39.70

3.74

-6.60

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

7.36

7.11

4.63

15.62

23.60

Return on Equity (%)

21.64

8.79

8.16

25.37

47.92

Return on Assets (%)

14.35

5.83

5.64

19.42

38.18

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.51

0.51

0.45

0.31

0.26

Current Debt/Equity (Times)

0.48

0.48

0.43

0.29

0.24

Long Term Debt To Equity (Times)

0.03

0.03

0.02

0.02

0.02

Total Asset To Total Equity (Times)

1.51

1.51

1.45

1.31

1.26

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.95

0.82

1.22

1.24

1.62

Fixed Assets Turnover (Times)

5.77

2.23

4.21

4.17

8.65

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.08

1.97

2.41

3.18

4.32

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 5.74% (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 7.36 per cent in FY11 (FY10: 7.11 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.07 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.07 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.08 times in FY11 (FY10: 1.97 times). This means that the company has SINGAPORE, DOLLARS 2.08 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 0.51 times in FY11, as compared with 0.51 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.51 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 21.64 per cent for Subject in the current financial period, as compared to 8.79 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 14.35 per cent (FY10: 5.83 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 1.95 times in FY11 (FY10: 0.82 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.52.17

UK Pound

1

Rs.80.64

Euro

1

Rs.69.43

 

 

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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