MIRA INFORM REPORT

 

 

Report Date :           

30.09.2011

 

IDENTIFICATION DETAILS

 

Name :

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

 

 

Formerly Known As :

CHARMILLES TECHNOLOGIES (SOUTH EAST ASIA) PTE. LTD

 

 

Registered Office :

130 Joo Seng Road #04-01 Olivine Bldg Singapore 368357

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.10.1990

 

 

Com. Reg. No.:

199005164Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of industrial machinery and equipment

 

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$324,000

 

 

Status :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

:

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

Registration No

:

199005164Z

Date of Registration

:

20/10/1990

Former Name

:

CHARMILLES TECHNOLOGIES (SOUTH EAST ASIA) PTE. LTD. Eff. date : 20/10/1990 Eff. date : 20/10/1990

Date of Change of Name

:

24/04/1997

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

130 JOO SENG ROAD #04-01 OLIVINE BLDG SINGAPORE 368357

Date of Change of Address

:

21/12/1994

Contact No.

:

6281 0341

Fax No.

:

6284 0415

Website

:

www.agie-charmilles.com

Registered Activities

:

1. WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

2. WHOLESALE OF AGRICULTURAL MACHINERY, EQUIPMENT AND SUPPLIES

Issued Ordinary Capital*

:

$600,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 600,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$600,000.00 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

:

CYPRESS SINGAPORE PAC

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 32,946,000.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 3,243,000.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

1622 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2001/2002)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$324,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

GEORG FISCHER AG

SHAREHOLDER ID

:

T09UF0055J

NATIONALITY

:

SWITZERLAND

ADDRESS

:

AMSLER-LAFFON-STRASSE 9, 8201 SCHAFFHAUSEN, SWITZERLAND

NO. OF ORD SHARES

:

600,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ANTOINE COLETTA

ADDRESS

:

130 JOO SENG ROAD #04-01 OLIVINE BUILDING SINGAPORE 368357

POSITION

:

DIRECTOR

DATE OF APPT

:

20/10/1990

NATIONALITY

:

SWISS

I/C PASSPORT

:

F0495729Q

 

NAME

:

MAURO ANGELO GIOVANNI FONTANA

ADDRESS

:

KASTANIENSTRASSE 15, CH-8447 DACHSEN SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F0780128

 

NAME

:

ARMANDO PEREIRA

ADDRESS

:

CHEMIN DES PAMPRES 4, 1213 ONEX/GENEVA SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F3235106

 

NAME

:

TAN CHING CHEK

ADDRESS

:

286 YISHUN AVENUE 6 #12-100 SINGAPORE 760286

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1397070Z

 

NAME

:

LO SWEE OI

ADDRESS

:

135 CASHEW ROAD #10-129 SINGAPORE 670135

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1611477D

 

NAME

:

TEO TIAN SENG

ADDRESS

:

31C LORONG SELANGAT SERENE VIEW SINGAPORE 358724

POSITION

:

DIRECTOR

DATE OF APPT

:

17/06/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1643676C

 

 

KEY PERSONNEL PROFILE

 

Name:

ANTOINE COLETTA

NRIC Number:

F0495729Q

Available Address:

130 JOO SENG ROAD #04-01 OLIVINE BUILDING  SINGAPORE 368357

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

DIRECTOR

20/10/1990

-

-

 

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

 

The following litigation suits were traced against Subject. Case status is as per available database. 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

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

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

0

1

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

2937

 

Date of Filing

:

25/08/2005

 

Amount

:

65,700.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LEONG PHOOI WAH T/A MONGKOL ENGINEERING

 

Last Update Date

:

20/07/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

16/06/2011

Date of Last AR

:

08/07/2011

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

32,946,000

71.77

19,180,000

36,426,000

45,240,000

40,592,000

Profit/(Loss) Before Tax

1,215,000

NA

(4,400,000)

304,000

(54,000)

575,000

Profit After Tax attributable to Shareholders

1,306,000

NA

(4,193,000)

116,000

(300,000)

680,000

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

14,675,000

19.32

12,299,000

22,562,000

25,426,000

27,747,000

Current Assets

14,246,000

20.58

11,815,000

22,104,000

24,808,000

26,710,000

Non Current Assets

429,000

-11.36

484,000

458,000

618,000

1,037,000

 

 

 

 

 

 

 

Total Liabilities

11,432,000

9.22

10,467,000

16,704,000

19,684,000

21,705,000

Current Liabilities

11,432,000

9.22

10,467,000

16,687,000

19,648,000

21,650,000

Non Current Liabilities

0

NA

0

17,000

36,000

55,000

 

 

 

 

 

 

 

Shareholders' Funds

3,243,000

77.02

1,832,000

5,858,000

5,742,000

6,042,000

Share Capital

600,000

0.00

600,000

600,000

600,000

600,000

Total Reserves

2,643,000

114.53

1,232,000

5,258,000

5,142,000

5,442,000

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

71.77

-47.35

-19.48

11.45

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

3.96

-21.86

0.32

-0.66

1.68

Return on Equity (%)

40.27

-228.88

1.98

-5.22

11.25

Return on Assets (%)

8.90

-34.09

0.51

-1.18

2.45

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.53

5.71

2.85

3.43

3.59

Current Debt/Equity (Times)

3.53

5.71

2.85

3.42

3.58

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.01

0.01

Total Asset To Total Equity (Times)

4.53

6.71

3.85

4.43

4.59

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.25

1.56

1.61

1.78

1.46

Fixed Assets Turnover (Times)

76.80

39.63

79.53

73.20

39.14

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.25

1.13

1.32

1.26

1.23

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 3.96 per cent in FY10. The company is now able to book in SINGAPORE, DOLLARS 0.04 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 1.25 times in FY10 (FY09: 1.13 times). This means that the company has SINGAPORE, DOLLARS 1.25 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 3.53 times in FY10, as compared with 5.71 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 3.53 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 40.27 per cent for Subject in the current financial period. 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 8.90 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 2.25 times in FY10 (FY09: 1.56 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.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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.