MIRA INFORM REPORT

 

 

Report Date :

01.12.2012

 

IDENTIFICATION DETAILS

 

Name :

D&M ELECTRONICS SINGAPORE PTE. LTD.

 

 

Formerly Known As :

Denon Electronics Singapore Pte Ltd Eff. Date : 20/04/1996 Eff. Date : 20/04/1996

 

 

Registered Office :

438a Alexandra Road #01-09 Alexandra Technopark Singapore 119967

 

 

Country :

Singapore

 

 

Date of Incorporation :

20.04.1996

 

 

Com. Reg. No.:

199602814K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Household Electrical Appliances and Equipment (Including Household Air-Conditioners)

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

Company Name:

Registered Number:

D&M ELECTRONICS SINGAPORE PTE. LTD.

199602814K

 

Date Incorporated:

Registered Office:

Telephone Number:

20/04/1996

438A ALEXANDRA ROAD #01-09 ALEXANDRA TECHNOPARK SINGAPORE 119967

6339 1181

Age of Company:

Website:

Industry Type:

16

www.marantz.jp

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
1

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

D & M MANUFACTURING (HK) CO. LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

 

COMPANY NAME

 

D&M ELECTRONICS SINGAPORE PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

D&M ELECTRONICS SINGAPORE PTE. LTD.

Registration No

:

199602814K

Date of Registration

:

20/04/1996

Former Name

:

DENON ELECTRONICS SINGAPORE PTE LTD Eff. date : 20/04/1996 Eff. date : 20/04/1996

Date of Change of Name

:

25/04/2005

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

438A ALEXANDRA ROAD #01-09 ALEXANDRA TECHNOPARK SINGAPORE 119967

Date of Change of Address

:

23/03/2010

Contact No.

:

6339 1181

Fax No.

:

6339 8366

Website

:

www.marantz.jp

Registered Activities

:

WHOLESALE OF HOUSEHOLD ELECTRICAL APPLIANCES AND EQUIPMENT (INCLUDING HOUSEHOLD AIR-CONDITIONERS)

IMPORT/EXPORT/TRADE AFTER SERVICE OF ELECTRONICS HOME APPLIANCES (FREE TEXT)

Issued Ordinary Capital*

:

$1,550,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,550,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,550,000.00 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

:

KPMG LLP

Bankers / Financiers

:

MIZUHO CORPORATE BANK, LTD., LONDON BRANCH

Turnover

:

SINGAPORE, DOLLARS 44,229,068.00 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 12,604,180.00 (FY2012)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

D & M MANUFACTURING (HK) CO. LIMITED

SHAREHOLDER ID

:

T07UF0262J

NATIONALITY

:

HONG KONG

ADDRESS

:

SUITE 501 OCEAN CENTRE HARBOUR CITY 5 CANTON ROAD TSIM SHA TSUI KOWLOON HONG KONG

NO. OF ORD SHARES

:

1,550,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

LIM BEE ENG

ADDRESS

:

289 BISHAN STREET 24 #16-17 SINGAPORE 570289

POSITION

:

SECRETARY

 

DATE OF APPT

:

28/09/2005

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1626446F

 

NAME

:

TOH WEI SHEONG

ADDRESS

:

11 JERVOIS CLOSE #02-21 ONE JERVOIS SINGAPORE 249107

POSITION

:

DIRECTOR

DATE OF APPT

:

01/08/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7504703G

 

NAME

:

TOMONOBU KAMIYA

ADDRESS

:

1-15-1-2504 TAMAGAWA SETAGAYA-KU TOKYO JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/08/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TG7676726

 

NAME

:

YOSHIFUMI NAKAGAWA

ADDRESS

:

1-20-5 NISHISHIBA KANAZAWA-WARD YOKOHAMA-CITY KANAGAWA-PREF. JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

05/09/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH1039819

 

NAME

:

KAZUYUKI NAKATSUBO

ADDRESS

:

2-13-8 FUJIGAOKA AOBA-KU YOKOHAMA-CITY KANAGAWA PREF 2370043 JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH1564811

 

 

KEY PERSONNEL PROFILE

 

Name:

TOMONOBU KAMIYA

NRIC Number:

TG7676726

Available Address:

NO TRACE

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

No Trace

 

 

 

 

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

 

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200901897

 

Date of Registration

:

30/03/2009

 

Chargee

:

MIZUHO CORPORATE BANK, LTD., LONDON BRANCH

 

Amount Secured  and Currency

:

65,600,000,000.00 JAPAN, YEN

 

Address

:

---

 

             

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

14/11/2012

Date of Last AR

:

20/11/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

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).

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

44,229,068

-7.88

48,013,949

47,656,252

50,028,753

57,810,783

Profit/(Loss) Before Tax

(1,579,230)

NA

2,248,492

2,323,008

94,462

2,797,206

Profit After Tax attributable

 to Shareholders

(1,583,139)

NA

1,845,906

1,904,041

187,601

2,301,121

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

14,354,303

-13.12

16,521,704

13,791,733

11,960,743

15,349,209

Current Assets

14,139,962

-13.15

16,280,878

13,465,019

11,673,344

15,172,608

Non Current Assets

214,341

-11.00

240,826

326,714

287,399

176,601

 

 

 

 

 

 

 

Total Liabilities

1,750,123

-25.03

2,334,385

1,450,320

1,523,371

5,099,438

Current Liabilities

1,750,123

-25.03

2,334,385

1,450,320

1,523,371

5,099,438

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

12,604,180

-11.16

14,187,319

12,341,413

10,437,372

10,249,771

Share Capital

1,550,000

0.00

1,550,000

1,550,000

1,550,000

1,550,000

Total Reserves

11,054,180

-12.53

12,637,319

10,791,413

8,887,372

8,699,771

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-7.88

0.75

-4.74

-13.46

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-3.58

3.84

4.00

0.37

3.98

Return on Equity (%)

-12.56

13.01

15.43

1.80

22.45

Return on Assets (%)

-11.03

11.17

13.81

1.57

14.99

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.14

0.16

0.12

0.15

0.50

Current Debt/Equity (Times)

0.14

0.16

0.12

0.15

0.50

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.14

1.16

1.12

1.15

1.50

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.08

2.91

3.46

4.18

3.77

Fixed Assets Turnover (Times)

206.35

199.37

145.87

174.07

327.35

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

8.08

6.97

9.28

7.66

2.98

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 8.08 times in FY12 (FY11: 6.97 times). This means that the company has SINGAPORE, DOLLARS 8.08 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.

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 0.14 times in FY12, compared with 0.16 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.14 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

 

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

 

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

 

Total assets turnover ratio logged at 3.08 times in FY12 (FY11: 2.91 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.54.52

UK Pound

1

Rs.87.48

Euro

1

Rs.70.89

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.