MIRA INFORM REPORT

 

 

Report Date :

22.08.2012

 

IDENTIFICATION DETAILS

 

Name :

TIANJIN TIANYAO PHARMACEUTICALS (ASIA) PTE. LTD.

 

 

Registered Office :

20 Maxwell Road #04-01c Maxwell House Singapore 069113

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

22.05.2008

 

 

Com. Reg. No.:

200810089E

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

 

General wholesale trade (including general importers and exporters)

Import and export of active pharmaceutical ingredients

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company Name:

Registered Number:

TIANJIN TIANYAO PHARMACEUTICALS (ASIA) PTE. LTD.

200810089E

 

Date Incorporated:

Registered Office:

Telephone Number:

22/05/2008

20 MAXWELL ROAD #04-01C MAXWELL HOUSE SINGAPORE 069113

6222 9778

Age of Company:

Website:

Industry Type:

4

NA

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

NA

 

NA

blank

 

The entity is paying current to the creditors

No. of Charges(s):
0

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

TIANJIN PHARMACEUTICALS (HONG KONG) CO., LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

TIANJIN TIANYAO PHARMACEUTICALS (ASIA) PTE. LTD.

Registration No

:

200810089E

Date of Registration

:

22/05/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

20 MAXWELL ROAD #04-01C MAXWELL HOUSE SINGAPORE 069113

Date of Change of Address

:

31/07/2009

Contact No.

:

6222 9778

Fax No.

:

6222 9776

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

IMPORT AND EXPORT OF ACTIVE PHARMACEUTICAL INGREDIENTS

Issued Ordinary Capital*

:

$100,000.00 U.S. DOLLAR ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 U.S. DOLLAR

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

:

MJMA PAC

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 53,540,767.37 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 716,256.47 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

264.65% (3 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

TIANJIN PHARMACEUTICALS (HONG KONG) CO., LTD

SHAREHOLDER ID

:

T08UF1349B

NATIONALITY

:

NA

ADDRESS

:

RM 712, HING WAI CENTRE, 7 TIN WAN PRAYA ROAD ABERDEEN, HONG KONG 750047

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

LU YAN CHANG

ADDRESS

:

ROOM 908, NO.109 BA WEI ROAD, TIANJIN, CHINA.

POSITION

:

DIRECTOR

DATE OF APPT

:

08/07/2008

NATIONALITY

:

CHINESE

I/C PASSPORT

:

120102196504150938

 

NAME

:

TIAN JING WEN

ADDRESS

:

38 DOVER RISE #05-08 DOVER PARKVIEW SINGAPORE 138684

POSITION

:

DIRECTOR

DATE OF APPT

:

08/07/2008

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G0156929K

 

NAME

:

LI JING

ADDRESS

:

1-20, BLOCK 2, RI HUAN LI, HONGQI ROAD NANKAI DISTRICT, TIANJIN, CHINA

POSITION

:

DIRECTOR

DATE OF APPT

:

19/12/2008

NATIONALITY

:

CHINESE

I/C PASSPORT

:

P0060546

 

NAME

:

YANG FENG HONG

ADDRESS

:

NO. 109 BAWEI ROAD, HEDONG DISTRICT TIANJIN, CHINA

POSITION

:

DIRECTOR

DATE OF APPT

:

21/02/2010

NATIONALITY

:

CHINESE

I/C PASSPORT

:

P00703306

 

NAME

:

FENG XIANG LI

ADDRESS

:

NO. 109, BAWEI ROAD, HEDONG DISTRICT TIANJIN, CHINA

POSITION

:

DIRECTOR

DATE OF APPT

:

21/02/2010

NATIONALITY

:

CHINESE

I/C PASSPORT

:

P00962035

 

NAME

:

LOH LI PING

ADDRESS

:

57 JALAN SETIA MACPHERSON GARDEN ESTATE SINGAPORE 368475

POSITION

:

SECRETARY

DATE OF APPT

:

08/07/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7625605E

 

 

KEY PERSONNEL PROFILE

 

Name:

LU YAN CHANG

NRIC Number:

120102196504150938

Available Address:

ROOM 908, NO.109 BA WEI ROAD, TIANJIN, CHINA.

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

TIANJIN TIANYAO PHARMACEUTICALS (ASIA) PTE. LTD.

DIRECTOR

08/07/2008

-

-

 

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.

Transfer

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

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

10/05/2012

Date of Last AR

:

11/05/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

53,540,767

-5.24

56,504,385

53,826,278

1,104,252

Profit/(Loss) Before Tax

277,752

6.10

261,785

129,601

12,761

Profit After Tax attributable

 to Shareholders

258,642

9.39

236,435

119,117

12,604

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

17,482,890

50.18

11,641,231

9,880,388

1,099,053

Current Assets

17,477,827

50.24

11,632,895

9,866,643

1,087,282

Non Current Assets

5,063

-39.26

8,336

13,745

11,771

 

 

 

 

 

 

Total Liabilities

16,766,634

50.44

11,145,272

9,602,860

944,284

Current Liabilities

16,766,634

50.44

11,145,272

9,602,860

944,284

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

716,256

44.42

495,959

277,528

154,768

Share Capital

125,550

-7.73

136,070

145,510

142,164

Total Reserves

590,706

64.14

359,889

132,018

12,604

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Growth %

 

 

 

 

Year-on-Year Growth

-5.24

4.98

4,774.46

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.48

0.42

0.22

1.14

Return on Equity (%)

36.11

47.67

42.92

8.14

Return on Assets (%)

1.48

2.03

1.21

1.15

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

23.41

22.47

34.60

6.10

Current Debt/Equity (Times)

23.41

22.47

34.60

6.10

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

24.41

23.47

35.60

7.10

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.06

4.85

5.45

1.00

Fixed Assets Turnover (Times)

10,574.01

6,778.64

3,916.10

93.81

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.04

1.04

1.03

1.15

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 264.65% (3 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 0.48 per cent in FY11 (FY10: 0.42 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

 

Liquidity

Current ratio stood at 1.04 times in FY11 (FY10: 1.04 times). This means that the company has SINGAPORE, DOLLARS 1.04 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 23.41 times in FY11, compared with 22.47 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 23.41 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 36.11 per cent for Subject in the current financial period, as compared to 47.67 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 1.48 per cent (FY10: 2.03 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 3.06 times in FY11 (FY10: 4.85 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.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.