MIRA INFORM REPORT

 

 

Report Date :           

15.09.2011

 

IDENTIFICATION DETAILS

 

Name :

KIM ANN ENGINEERING PRIVATE LIMITED

 

 

Registered Office :

3c Joo Koon Circle Singapore 629035

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010 (Group)

31.12.2007 (Company)

 

 

Date of Incorporation :

07.05.1974

 

 

Com. Reg. No.:

197400799c

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Manufacture Of Basic Iron And Steel (Including Smelting)

Iron/Steel Basic Industries(Incl Smelting)

 

RATING & COMMENTS

 

MIRA’s Rating :

Aaa

 

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

 

Maximum Credit Limit :

S$1,000,000

Status :

Good

Payment Behaviour :

Regular

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 – 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

:

KIM ANN ENGINEERING PRIVATE LIMITED

Registration No

:

197400799C

Date of Registration

:

07/05/1974

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

3C JOO KOON CIRCLE SINGAPORE 629035

Date of Change of Address

:

25/08/1987

Contact No.

:

6861 3137

Fax No.

:

6861 2066

Website

:

www.kimann.com

Registered Activities

:

1. MANUFACTURE OF BASIC IRON AND STEEL NEC (INCLUDING SMELTING)

IRON/STEEL BASIC INDUSTRIES NEC (INCL SMELTING)

2. WHOLESALE OF OTHER SPECIFIC COMMODITIES NEC

Issued Ordinary Capital*

:

$20,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 20,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$20,000,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

KPMG LLP

Bankers / Financiers

:

DBS BANK LTD.

Turnover

:

SGD - SIN 93,316,524.00 (FY2010)

Net Worth

:

SGD - SIN 83,551,282.00 (FY2010)

No. of Bank Charges

:

2

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

42 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

77 POSITION IN SME 1000 Companies Ranked by Net Profit (2009/2010)

1312 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

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

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

LOW SIM YAM

SHAREHOLDER ID

:

S0015095I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

55 JALAN LIMAU MANIS BEDOK GARDENS SINGAPORE 468383

NO. OF ORD SHARES

:

4,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOW SIM SEAH

SHAREHOLDER ID

:

S0030017I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

80 JALAN SIMPANG BEDOK CANARY PARK SINGAPORE 488210

NO. OF ORD SHARES

:

4,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LAU TAI SAN

SHAREHOLDER ID

:

S0206887G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

1 BEDOK CLOSE SINGAPORE 469867

NO. OF ORD SHARES

:

4,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOW SIM ANN

SHAREHOLDER ID

:

S1145147J

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

4B ELLIOT ROAD SINGAPORE 458691

NO. OF ORD SHARES

:

4,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOW SENG PHEOW

SHAREHOLDER ID

:

S1237426G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

160 HAIG ROAD #16-02 HAIG COURT SINGAPORE 438795

NO. OF ORD SHARES

:

4,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

LOW SIM YAM

ADDRESS

:

55 JALAN LIMAU MANIS BEDOK GARDENS SINGAPORE 468383

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

14/05/1974

14/05/1974

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0015095I

 

NAME

:

LOW SIM SEAH

ADDRESS

:

80 JALAN SIMPANG BEDOK CANARY PARK SINGAPORE 488210

POSITION

:

DIRECTOR

DATE OF APPT

:

14/05/1974

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0030017I

 

NAME

:

LAU TAI SAN

ADDRESS

:

1 BEDOK CLOSE SINGAPORE 469867

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

14/05/1974

15/06/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0206887G

 

NAME

:

LOW SIM ANN

ADDRESS

:

4B ELLIOT ROAD SINGAPORE 458691

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1145147J

 

NAME

:

LOW SENG PHEOW

ADDRESS

:

160 HAIG ROAD #16-02 HAIG COURT SINGAPORE 438795

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1237426G

 

 

KEY PERSONNEL PROFILE

 

Name:

LAU TAI SAN

NRIC Number:

S0206887G

Available Address:

1 BEDOK CLOSE  SINGAPORE 469867

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CHINESE DEVELOPMENT ASSISTANCE COUNCIL

DIRECTOR

25/06/2010

-

-

2

EDC@SCCCI PTE. LTD.

DIRECTOR

25/03/2011

-

-

3

KIM ANN ENGINEERING PRIVATE LIMITED

DIRECTOR

14/05/1974

4000000

20.00

4

KIM ANN ENGINEERING PRIVATE LIMITED

MANAGING DIRECTOR

15/06/2010

4000000

20.00

5

KIMANN INVESTMENTS PTE LTD

DIRECTOR

10/08/1989

400000

20.00

6

KIMANN MARKETING PTE LTD

DIRECTOR

11/11/1989

-

-

7

KIMANN REALTY PTE. LTD.

DIRECTOR

19/03/2010

1600000

20.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BIO-SYSTEM ENGINEERING PTE LTD

STRUCK OFF

DIRECTOR

28/01/1988

28/02/1991

2

CHUAN ANN METALS PRIVATE LIMITED

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

DIRECTOR

15/09/1972

01/01/1987

3

JCI LOGISTICS PTE. LTD.

STRUCK OFF

DIRECTOR

15/05/1982

16/06/1989

4

KIMANN MARKETING PTE LTD

LIVE COMPANY

SHAREHOLDER

-

23/02/2011

5

LINK INTERNATIONAL (S'PORE) PTE LTD

STRUCK OFF

DIRECTOR

10/07/1975

15/10/1984

6

MULTI-ARC SCIENTIFIC COATINGS (S) PTE LTD

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

28/01/1993

20/09/2004

7

VENTO SYSTEMS PTE LTD

LIVE COMPANY

DIRECTOR/SHR

15/02/2000

01/08/2011

 

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 (%)

KIMANN MARKETING PTE LTD

100

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200507333

 

Date of Registration

:

25/11/2005

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C200507331

 

Date of Registration

:

25/11/2005

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

 

 

             

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

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.

:

531

 

Date of Filing

:

14/02/2008

 

Amount

:

2,006.15

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

CHEW JOSEPHINE

 

Last Update Date

:

15/02/2008

 

 

COMPLIANCE

 

Date of Last AGM

:

20/06/2011

Date of Last AR

:

30/06/2011

Date of A/C Laid At Last AGM

:

31/12/2010

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

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

93,316,524

20.66

77,338,884

116,960,474

118,646,925

103,586,161

Profit/(Loss) Before Tax

12,813,325

29.89

9,864,821

18,989,585

17,700,922

19,412,617

Profit After Tax attributable to Shareholders

10,097,863

11.39

9,065,316

15,421,211

14,665,345

15,274,565

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

113,293,356

4.18

108,752,233

127,098,233

119,696,413

99,025,984

Current Assets

101,069,044

4.92

96,330,995

115,014,643

106,751,646

86,346,813

Non Current Assets

12,224,312

-1.59

12,421,238

12,083,590

12,944,767

12,679,171

 

 

 

 

 

 

 

Total Liabilities

29,742,074

-1.88

30,310,499

59,055,488

57,223,250

49,103,935

Current Liabilities

27,943,363

0.15

27,900,492

55,782,117

53,024,573

44,888,610

Non Current Liabilities

1,798,711

-25.36

2,410,007

3,273,371

4,198,677

4,215,325

 

 

 

 

 

 

 

Shareholders' Funds

83,551,282

6.51

78,441,734

68,042,745

62,473,163

49,922,049

Share Capital

5,000,000

0.00

5,000,000

5,000,000

5,000,000

5,000,000

Total Reserves

78,551,282

6.96

73,441,734

63,042,745

57,473,163

44,922,049

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

20.66

-33.88

-1.42

14.54

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

10.82

11.72

13.18

12.36

14.75

Return on Equity (%)

12.09

11.56

22.66

23.47

30.60

Return on Assets (%)

8.91

8.34

12.13

12.25

15.42

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.36

0.39

0.87

0.92

0.98

Current Debt/Equity (Times)

0.33

0.36

0.82

0.85

0.90

Long Term Debt To Equity (Times)

0.02

0.03

0.05

0.07

0.08

Total Asset To Total Equity (Times)

1.36

1.39

1.87

1.92

1.98

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.82

0.71

0.92

0.99

1.05

Fixed Assets Turnover (Times)

7.63

6.23

9.68

9.17

8.17

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

3.62

3.45

2.06

2.01

1.92

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2007

% Change

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

*

NA

0

Profit/(Loss) Before Tax

*

NA

0

Profit After Tax attributable to Shareholders

*

NA

0

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

119,698,807

20.99

98,936,246

Current Assets

105,637,897

24.24

85,025,288

Non Current Assets

14,060,910

1.08

13,910,958

 

 

 

 

Total Liabilities

56,467,014

16.32

48,546,370

Current Liabilities

52,893,747

18.87

44,495,365

Non Current Liabilities

3,573,267

-11.79

4,051,005

 

 

 

 

Shareholders' Funds

63,231,793

25.49

50,389,876

Share Capital

5,000,000

0.00

5,000,000

Total Reserves

58,231,793

28.29

45,389,876

 

 

 

 

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2007

DEC 2006

Growth %

 

 

Year-on-Year Growth

NA

NA

 

 

 

Profitability

 

 

Profit Margin (%)

0.00

0.00

Return on Equity (%)

0.00

0.00

Return on Assets (%)

0.00

0.00

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

0.89

0.96

Current Debt/Equity (Times)

0.84

0.88

Long Term Debt To Equity (Times)

0.06

0.08

Total Asset To Total Equity (Times)

1.89

1.96

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

0.00

0.00

Fixed Assets Turnover (Times)

0.00

0.00

 

 

 

Liquidity

 

 

Current Ratio (Times)

2.00

1.91

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 10.82 per cent in FY10 (FY09: 11.72 per cent). The group is now able to book in SGD - SIN 0.11 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.12 a year ago.

 

 

Liquidity

 

Current ratio stood at 3.62 times in FY10 (FY09: 3.45 times). This means that the group has SGD - SIN 3.62 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 0.36 times in FY10, as compared with 0.39 times in FY09. This means that the group requires additional external financing of SGD - SIN 0.36 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 12.09 per cent for Subject in the current financial period, as compared to 11.56 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 8.91 per cent (FY09: 8.34 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 0.82 times in FY10 (FY09: 0.71 times). This ratio measures the group'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.47.81

UK Pound

1

Rs.75.16

Euro

1

Rs.65.11

 

 

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.