MIRA INFORM REPORT

 

 

Report Date :           

21.10.2011

 

IDENTIFICATION DETAILS

 

Name :

YAMAZAKI MAZAK SINGAPORE PTE LTD

 

 

Registered Office :

21 Joo Koon Circle Jurong Singapore 629053

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

02.09.1988

 

 

Com. Reg. No.:

198803160G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture and repair of machinery and machine-tools - metal cutting types

 

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

:

YAMAZAKI MAZAK SINGAPORE PTE LTD

Registration No

:

198803160G

Date of Registration

:

02/09/1988

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

21 JOO KOON CIRCLE JURONG SINGAPORE 629053

Date of Change of Address

:

02/12/1991

Contact No.

:

6862 1131

Fax No.

:

6861 9284

Website

:

http://www.mazak.com.sg

Registered Activities

:

MANUFACTURE AND REPAIR OF MACHINERY AND MACHINE-TOOLS - METAL CUTTING TYPES (EG LATHES, MILLING MACHINES, SHAPING MACHINES)

Issued Ordinary Capital*

:

$22,200,000.00 SINGAPORE DOLLARS, NO. OF SHARE : 22,200,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$22,200,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 112,027,028.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 146,914,852.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

2

S1000 / SME 500 / FG50 Ranking

:

1593 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

1134 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

1021 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

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

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

YAMAZAKI MAZAK NEDERLAND B V

SHAREHOLDER ID

:

S88UF0387D

NATIONALITY

:

NETHERLANDS

ADDRESS

:

PEPPELKADE 54, NL-3992 AK HOUTEN THE NETHERLANDS

NO. OF ORD SHARES

:

22,200,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

YUKIHIKO TOGASHI

ADDRESS

:

263 RIVER VALLEY ROAD #05-14 ASPEN HEIGHTS SINGAPORE 238309

POSITION

:

DIRECTOR

DATE OF APPT

:

30/07/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6089322K

 

NAME

:

VIVEK SHARMA

ADDRESS

:

1 TAMAN NAKHODA #07-02 HOLLAND GEMS SINGAPORE 257742

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

25/09/2009

25/09/2009

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G6295902P

 

NAME

:

MICHIARI OTA

ADDRESS

:

10 STIRLING ROAD #06-01 QUEENS SINGAPORE 148954

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

25/09/2009

25/09/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6304586T

 

NAME

:

TOMOHISA YAMAZAKI

ADDRESS

:

61-4 NANZAN, HIROKOJI-CHO, SHOWA-KU NAGOYA-CITY, AICHI-PREF, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

26/04/1996

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MM3623909

 

NAME

:

TAKASHI YAMAZAKI

ADDRESS

:

30-1 MYOUKEN-CHO, SHOWA-KU NAGOYA-CITY, AICHI-PREF, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

08/04/1996

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MZ0057411

 

NAME

:

CHONG KWAI SOON

ADDRESS

:

717 CLEMENTI WEST STREET 2 #19-107 SINGAPORE 120717

POSITION

:

DIRECTOR

DATE OF APPT

:

25/09/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1525592G

 

NAME

:

CHAN LILY

ADDRESS

:

259A COMPASSVALE ROAD #13-609 SINGAPORE 541259

POSITION

:

SECRETARY

DATE OF APPT

:

13/11/2000

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2668267C

 

 

 

NAME

:

NORIHIKO SHIMIZU

ADDRESS

:

3-7 MATSUZUKI-CHO, MIZUHO-KU NAGOYA-CITY, AICHI-PREF, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

18/01/2002

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0127098

 

 

 

KEY PERSONNEL PROFILE

 

Name:

VIVEK SHARMA

NRIC Number:

G6295902P

Available Address:

1 TAMAN NAKHODA #07-02 HOLLAND GEMS  SINGAPORE 257742

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

YAMAZAKI MAZAK SINGAPORE PTE LTD

DIRECTOR

25/09/2009

-

-

2

YAMAZAKI MAZAK SINGAPORE PTE LTD

MANAGING DIRECTOR

25/09/2009

-

-

 

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 (%)

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. 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 2 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

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

511

 

Date of Filing

:

14/08/2007

 

Amount

:

2,017,814.85

 

Cause

:

Tort - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

DBS BANK LTD

 

Last Update Date

:

07/03/2011

 

2)

Court

:

Magistrate Court

 

Case No.

:

5164

 

Date of Filing

:

29/02/2008

 

Amount

:

0.00

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

MOHAMMED REZKI AZHAR SHAHRI

 

Last Update Date

:

03/08/2010

 

COMPLIANCE

 

Date of Last AGM

:

30/09/2010

Date of Last AR

:

11/10/2010

Date of A/C Laid At Last AGM

:

31/03/2010

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2010

% Change

MAR 2009

MAR 2008

MAR 2007

MAR 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

112,027,028

-31.54

163,640,656

232,997,806

206,480,492

192,250,735

Profit/(Loss) Before Tax

1,263,389

-90.71

13,597,459

27,648,705

25,336,056

19,861,873

Profit After Tax attributable to Shareholders

516,440

-95.20

10,757,368

24,043,267

22,074,461

16,756,998

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

179,097,623

-4.23

187,017,542

201,995,443

171,959,370

144,164,374

Current Assets

154,320,831

-3.35

159,668,167

172,047,890

140,499,367

112,273,975

Non Current Assets

24,776,792

-9.41

27,349,375

29,947,553

31,460,003

31,890,399

 

 

 

 

 

 

 

Total Liabilities

32,182,771

-20.68

40,575,647

61,892,096

55,899,290

50,198,800

Current Liabilities

30,963,771

-23.27

40,351,647

61,668,096

55,675,290

49,938,827

Non Current Liabilities

1,219,000

444.20

224,000

224,000

224,000

259,973

 

 

 

 

 

 

 

Shareholders' Funds

146,914,852

0.32

146,441,895

140,103,347

116,060,080

93,965,574

Share Capital

22,200,000

0.00

22,200,000

22,200,000

22,200,000

22,200,000

Total Reserves

124,714,852

0.38

124,241,895

117,903,347

93,860,080

71,765,574

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

MAR 2009

MAR 2008

MAR 2007

MAR 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-31.54

-29.77

12.84

7.40

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.46

6.57

10.32

10.69

8.72

Return on Equity (%)

0.35

7.35

17.16

19.02

17.83

Return on Assets (%)

0.29

5.75

11.90

12.84

11.62

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.22

0.28

0.44

0.48

0.53

Current Debt/Equity (Times)

0.21

0.28

0.44

0.48

0.53

Long Term Debt To Equity (Times)

0.01

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.22

1.28

1.44

1.48

1.53

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.63

0.88

1.15

1.20

1.33

Fixed Assets Turnover (Times)

4.52

5.98

7.78

6.56

6.03

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

4.98

3.96

2.79

2.52

2.25

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.46 per cent in FY10 (FY09: 6.57 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.07 a year ago.

 

 

Liquidity

 

Current ratio stood at 4.98 times in FY10 (FY09: 3.96 times). This means that the company has SINGAPORE, DOLLARS 4.98 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 0.22 times in FY10, as compared with 0.28 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.22 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 0.35 per cent for Subject in the current financial period, as compared to 7.35 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 0.29 per cent (FY09: 5.75 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 0.63 times in FY10 (FY09: 0.88 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.49.71

UK Pound

1

Rs.78.08

Euro

1

Rs.68.05

 

 

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.