MIRA INFORM REPORT

 

 

Report Date :

03.09.2011

 

IDENTIFICATION DETAILS

 

Name :

LANE CRAWFORD (SINGAPORE) PTE LTD

 

 

Formerly Known As :

LANE CRAWFORD STORES (HONGKONG) PTE LTD

 

 

Registered Office :

501 Orchard Road #11-01 Wheelock Place Singapore 238880

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

24.07.1981

 

 

Com. Reg. No.:

198103497Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Department Stores

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Unknown

 

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

:

LANE CRAWFORD (SINGAPORE) PTE LTD

Registration No

:

198103497Z

Date of Registration

:

24/07/1981

Former Name

:

LANE CRAWFORD STORES (HONGKONG) PTE LTD Eff. date : 24/07/1981 Eff. date : 24/07/1981

Date of Change of Name

:

29/08/1988

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

501 ORCHARD ROAD #11-01 WHEELOCK PLACE SINGAPORE 238880

Date of Change of Address

:

18/03/2006

Contact No.

:

6835 1307

Fax No.

:

6835 2660

Website

:

NA

Registered Activities

:

1. DEPARTMENT STORES

2. WHOLESALE OF TEXTILES

Issued Ordinary Capital*

:

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

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$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

:

7

No. of Local Associates

:

NA

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 19,202,941.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (37,538,018.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

36.21% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

LANE CRAWFORD (HONG KONG) LIMITED

SHAREHOLDER ID

:

T04UF1318D

NATIONALITY

:

HONG KONG

ADDRESS

:

23/F WHEELOCK HOUSE, 20 PEDDER STREET, CENTRAL, HONG KONG

NO. OF ORD SHARES

:

200,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MOK WAI MAN

ADDRESS

:

FLAT D, 11/F PROSPEROUS HEIGHT 62 CONDUIT RD MID-LEVELS HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

17/07/2008

NATIONALITY

:

BRITISH

I/C PASSPORT

:

704087256

 

NAME

:

TSUI YIU CHEUNG

ADDRESS

:

FLAT C, 7/F, CONDUIT TOWER, 20 CONDUIT ROAD, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

01/02/1999

NATIONALITY

:

CANADIAN

I/C PASSPORT

:

JX372815

 

NAME

:

TAN LING LING

ADDRESS

:

74 BORTHWICK DRIVE SERANGOON GARDEN ESTATE SINGAPORE 559577

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

10/04/2006

10/04/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1830389B

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TSUI YIU CHEUNG

NRIC Number:

JX372815

Available Address:

FLAT C, 7/F, CONDUIT TOWER, 20 CONDUIT ROAD, HONG KONG

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ACTBILT PTE LIMITED

DIRECTOR

01/08/2000

-

-

2

ARDESIA DEVELOPMENTS PTE. LTD.

DIRECTOR

24/08/2006

-

-

3

BELMONT PROPERTIES PTE. LTD.

DIRECTOR

08/04/2011

-

-

4

BESTBILT PTE. LTD.

DIRECTOR

12/11/2004

-

-

5

BOTANICA PTE. LTD.

DIRECTOR

17/07/2006

-

-

6

COLEMAN PROPERTIES PTE. LTD.

DIRECTOR

11/03/2008

-

-

7

EVERBILT DEVELOPERS PTE LTD

DIRECTOR

01/08/2000

-

-

8

LANE CRAWFORD (SINGAPORE) PTE LTD

DIRECTOR

01/02/1999

-

-

9

LOUBOUTIN SINGAPORE PTE. LIMITED

DIRECTOR

08/06/2011

-

-

10

MER VUE DEVELOPMENTS PTE. LTD.

DIRECTOR

05/08/2003

-

-

11

NASSIM DEVELOPMENTS PTE. LTD.

DIRECTOR

21/03/2005

-

-

12

ORCHARD PROPERTIES PTE. LTD.

DIRECTOR

11/03/2008

-

-

13

PALM VALLEY PROPERTIES PTE. LTD.

DIRECTOR

06/08/2010

-

-

14

PRESTON PROPERTIES PTE. LTD.

DIRECTOR

01/08/2000

-

-

15

SPRINGFIELD PROPERTIES PTE. LTD.

DIRECTOR

06/07/2007

-

-

16

WHEELOCK PROPERTIES (JAPAN) PTE. LTD.

DIRECTOR

26/07/2004

-

-

17

WHEELOCK PROPERTIES (SINGAPORE) LIMITED

DIRECTOR

31/12/2000

-

-

18

WPJ SERVICES PTE. LTD.

DIRECTOR

29/08/2007

-

-

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BELGRAVIA PROPERTIES PTE. LTD.

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

20/11/2003

-

 

2

MP-BILT PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/08/2000

28/01/2011

 

 

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 (%)

 

ON PEDDER

NA (SOLE-PROPRIETOR)

STUART WEITZMAN

NA (SOLE-PROPRIETOR)

PEDDER RED

NA (SOLE-PROPRIETOR)

CLUB MONACO

NA (SOLE-PROPRIETOR)

CHRISTIAN LOUBOUTIN

NA (SOLE-PROPRIETOR)

JUICY COUTURE

NA (SOLE-PROPRIETOR)

JO MALONE

NA (SOLE-PROPRIETOR)

 

                                                                                                                       

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 RECORDS

 

Date of Last AGM

:

22/02/2011

Date of Last AR

:

25/02/2011

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

19,202,941

10.74

17,340,283

12,310,283

8,574,577

5,578,925

Profit/(Loss) Before Tax

7,307,022

219.67

2,285,830

2,877,296

2,006,793

2,014,067

Profit After Tax attributable to Shareholders

8,116,022

187.53

2,822,670

2,877,296

2,006,793

2,014,067

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

10,515,740

6.12

9,909,213

7,037,658

2,896,901

3,347,762

Current Assets

7,430,507

11.48

6,665,129

4,480,767

2,540,763

3,044,633

Non Current Assets

3,085,233

-4.90

3,244,084

2,556,891

356,138

303,129

 

 

 

 

 

 

 

Total Liabilities

48,053,758

-13.52

55,563,253

2,523,974

993,031

1,010,358

Current Liabilities

48,053,758

-13.52

55,563,253

2,523,974

993,031

1,010,358

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

(37,538,018)

NA

(45,654,040)

4,513,684

1,903,870

2,337,404

Share Capital

200,000

0.00

200,000

200,000

25,000

25,000

Total Reserves

(37,738,018)

NA

(45,854,040)

4,313,684

1,878,870

2,312,404

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2010

MAR 2009

MAR 2008

MAR 2007

MAR 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

10.74

40.86

43.57

53.70

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

42.26

16.28

23.37

23.40

36.10

Return on Equity (%)

-21.62

-6.18

63.75

105.41

86.17

Return on Assets (%)

77.18

28.49

40.88

69.27

60.16

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-1.28

-1.22

0.56

0.52

0.43

Current Debt/Equity (Times)

0.00

0.00

0.56

0.52

0.43

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-0.28

-0.22

1.56

1.52

1.43

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.83

1.75

1.75

2.96

1.67

Fixed Assets Turnover (Times)

6.22

5.35

4.81

24.08

18.40

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.15

0.12

1.78

2.56

3.01

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 36.21% (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 42.26 per cent in FY10 (FY09: 16.28 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.42 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.16 a year ago.

 

Liquidity

 

Current ratio stood at 0.15 times in FY10 (FY09: 0.12 times). This means that the company has SINGAPORE, DOLLARS 0.15 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

FINANCIAL COMMENTARY

 

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

We are unable to comment on Subject's leverage.

 

Efficiency Ratio

 

We are unable to comment on Subject's return on equity.

 

Return on assets stood at 77.18 per cent (FY09: 28.49 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 1.83 times in FY10 (FY09: 1.75 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.45.89

UK Pound

1

Rs.74.31

Euro

1

Rs.65.41

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.