MIRA INFORM REPORT

 

 

Report Date :           

10.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SHIMADZU (ASIA PACIFIC) PTE LTD

 

 

Registered Office :

79 Science Park Drive #02-01/08 Cintech Iv Singapore 118264

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

18.10.1989

 

 

Com. Reg. No.:

198904521e

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Research and Experimental Development on Biotechnology, Life and Medical Science

 

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 :

Very 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 – 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

 

 Bottom of Form

Executive Summary

 

Company Name

:

SHIMADZU (ASIA PACIFIC) PTE LTD

Registration No

:

198904521E

Date of Registration

:

18/10/1989

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

79 SCIENCE PARK DRIVE #02-01/08 CINTECH IV SINGAPORE 118264

Date of Change of Address

:

06/07/2009

Contact No.

:

6778 6280

Fax No.

:

6778 6901

Website

:

www.shimadzu.com.sg

Registered Activities

:

1. RESEARCH AND EXPERIMENTAL DEVELOPMENT ON BIOTECHNOLOGY, LIFE AND MEDICAL SCIENCE

R&D, IMPORT,EXPORT, REPAIR ANALYTICAL, MEDICAL & INDUSTRIAL GOODS

2. HARDWARE CONSULTANCY (INCLUDING SYSTEMS CONSULTANCY)

Issued Ordinary Capital*

:

$3,150,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,150,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,150,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 150,650,616.00 (FY2009)

Net Worth

:

SGD - SIN 76,151,168.00 (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

1270 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

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

621 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

934 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

750 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

2.97% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

SHIMADZU CORPORATION

SHAREHOLDER ID

:

S89UF0368F

NATIONALITY

:

JAPAN

ADDRESS

:

1 NISHINOKYO-KUWABARACHO NAKAGYO-KU KYOTO 604-8511, JAPAN

NO. OF ORD SHARES

:

3,150,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TSUGUO KISHIDA

ADDRESS

:

23 LEONIE HILL #10-03 LEONIE GARDEN SINGAPORE 239224

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

02/10/2001

02/10/2001

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5630494R

 

NAME

:

LEE SIEW JEE JENNIFER

ADDRESS

:

2 ENG KONG ROAD SINGAPORE 599081

POSITION

:

SECRETARY

DATE OF APPT

:

28/06/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1336064B

 

NAME

:

SHUNJI FUKUI

ADDRESS

:

43-4, NAGAO, MOBARA-SHI, CHIBA, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2004

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TE8059874

 

NAME

:

FUMIO TSUJI

ADDRESS

:

6-39-5, MAKAMI-CHO, TAKATSUKI CITY, OSAKA PREFECTURE, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2004

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0037794

 

NAME

:

TARO TAKAHATA

ADDRESS

:

8-10-13 MIYAMOTO, FUNABASHI CITY CHIBA PREFECTURE, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

26/06/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0260919

 

NAME

:

HIROO FUKUSHIMA

ADDRESS

:

ROOM 401 2-17-1, MIDORIGAOKA CHOFU CITY, TOKYO, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

26/06/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0592230

 

 

KEY PERSONNEL PROFILE

 

Name:

TSUGUO KISHIDA

NRIC Number:

G5630494R

Available Address:

23 LEONIE HILL #10-03 LEONIE GARDEN  SINGAPORE 239224

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

SHIMADZU (ASIA PACIFIC) PTE LTD

DIRECTOR

02/10/2001

-

-

2

SHIMADZU (ASIA PACIFIC) PTE LTD

MANAGING DIRECTOR

02/10/2001

-

-

3

SHIMADZU SINGAPORE PTE LTD

DIRECTOR

31/03/2004

-

-

4

SHIMADZU SINGAPORE PTE LTD

MANAGING DIRECTOR

31/03/2004

-

-

 

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 (%)

SHIMADZU SINGAPORE 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

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

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

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

17093

 

Date of Filing

:

23/08/2000

 

Amount

:

24,355.00

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

COMTEMPORARY LUBRICANTS PTE LTD

 

Last Update Date

:

11/10/2006

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

15/06/2010

Date of Last AR

:

09/07/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

150,650,616

-11.15

169,547,740

155,110,300

147,005,228

134,015,987

Profit/(Loss) Before Tax

11,003,351

-4.49

11,521,149

18,115,868

17,435,719

17,420,575

Profit After Tax attributable to Shareholders

9,128,551

0.69

9,066,441

14,743,296

14,304,139

14,270,003

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

112,510,896

16.80

96,327,182

91,024,779

94,328,751

89,171,676

Current Assets

105,271,470

16.07

90,695,462

85,838,104

89,238,372

85,424,219

Non Current Assets

7,239,426

28.55

5,631,720

5,186,675

5,090,379

3,747,457

 

 

 

 

 

 

 

Total Liabilities

36,359,727

5.73

34,390,332

36,736,617

46,495,707

47,943,280

Current Liabilities

36,359,727

5.73

34,390,332

36,736,617

46,488,171

47,875,709

Non Current Liabilities

0

NA

0

0

7,536

67,571

 

 

 

 

 

 

 

Shareholders' Funds

76,151,168

22.95

61,936,849

54,288,163

47,833,046

41,228,396

Share Capital

3,123,196

13.19

2,759,144

2,563,994

2,730,292

3,018,609

Total Reserves

73,027,972

23.40

59,177,705

51,724,169

45,102,754

38,209,787

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-11.15

9.31

5.51

9.69

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

6.06

5.35

9.51

9.73

10.65

Return on Equity (%)

11.99

14.64

27.16

29.90

34.61

Return on Assets (%)

8.11

9.41

16.20

15.16

16.00

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.48

0.56

0.68

0.97

1.16

Current Debt/Equity (Times)

0.48

0.56

0.68

0.97

1.16

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.48

1.56

1.68

1.97

2.16

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.34

1.76

1.70

1.56

1.50

Fixed Assets Turnover (Times)

20.81

30.11

29.91

28.88

35.76

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.90

2.64

2.34

1.92

1.78

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 2.97% (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 6.06 per cent in FY09 (FY08: 5.35 per cent). The company is now able to book in SGD - SIN 0.06 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.05 a year ago.

 

Liquidity

Current ratio stood at 2.90 times in FY09 (FY08: 2.64 times). This means that the company has SGD - SIN 2.90 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 0.48 times in FY09, as compared with 0.56 times in FY08. This means that the company requires additional external financing of SGD - SIN 0.48 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 11.99 per cent for Subject in the current financial period, as compared to 14.64 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 8.11 per cent (FY08: 9.41 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 1.34 times in FY09 (FY08: 1.76 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.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.