MIRA
INFORM REPORT
|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARRIER ARCD PTE. LTD. |
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|
|
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Formerly Known As : |
COMFORTAIR (SINGAPORE) PTE LTD |
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Registered Office : |
28 Teban Gardens Crescent Singapore 608926 |
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Country : |
Singapore |
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|
|
Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
04.02.1972 |
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Com. Reg. No.: |
197200112H |
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Legal Form : |
Limited Private Company |
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Line of Business : |
l
General
wholesale trade (including general importers and exporters) l
Manufacture of
electrical machinery, apparatus, appliances and supplies (including sound or
visual signalling apparatus, electrical insulators except porcelain or glass)
mechanical & electrical contracting in the environmental control industry |
|
|
|
|
No. of Employees : |
Not Available |
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 |
|
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 – 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 |
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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.
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Source : CIA |
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Company Name: |
Registered Number: |
|
CARRIER ARCD PTE. LTD. |
197200112H |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
04/02/1972 |
28 TEBAN GARDENS CRESCENT SINGAPORE 608926 |
62142950 |
|
Age of Company: |
Website: |
Industry Type: |
|
40 |
NA |
COMMERCE-RETAIL |
|
Risk Dashboard |
||
|
Days Beyond Terms |
Trend: |
No. of Litigation Counts: |
|
Company DTC: |
NA |
|
|
27 |
||
|
Better than last
month |
No. of Charges(s): |
|
|
Industry DTC |
|
|
|
32 |
||
|
Directors |
|
Corporate Structure |
||
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Number of
Current Directors |
3 |
Holding Company: |
CARRIER TRANSICOLD PTE. LTD. |
|
|
Number that are
shareholders |
1 |
No. of
Subsidiaries & Associated Companies: |
NA |
|
EXECUTIVE SUMMARY
|
: |
CARRIER ARCD PTE. LTD. |
|
|
Registration No |
: |
197200112H |
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Date of Registration |
: |
04/02/1972 |
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Former Name |
: |
1.MECAIR PTE. LTD. Eff.
date : 04/02/1972 Eff. date : 04/02/1972 2.COMFORTAIR (SINGAPORE)
PTE LTD Eff. date : 11/12/1986 Eff. date : 11/12/1986 |
|
Date of Change of Name |
: |
13/06/2005 |
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Type of Company |
: |
LIMITED PRIVATE COMPANY |
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Registered Address |
: |
28 TEBAN GARDENS CRESCENT
SINGAPORE 608926 |
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Date of Change of Address |
: |
22/06/2009 |
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Contact No. |
: |
62142950 |
|
Fax No. |
: |
NA |
|
Website |
: |
NA |
|
Registered Activities |
: |
1. GENERAL WHOLESALE
TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) GENERAL IMPORTERS &
EXPORTERS 2. MANUFACTURE OF
ELECTRICAL MACHINERY, APPARATUS, APPLIANCES AND SUPPLIES (INCLUDING SOUND OR VISUAL
SIGNALLING APPARATUS, ELECTRICAL INSULATORS EXCEPT PORCELAIN OR GLASS) MECHANICAL &
ELECTRICIAL CONTRACTING IN THE ENVIRONMENTAL CONTROL INDUSTRY |
|
Issued Ordinary Capital* |
: |
$500,000.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 500,000 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$500,000.00 SINGAPORE,
DOLLARS |
|
Paid-Up Preference
Capital |
: |
NA |
|
* Number of Shares
includes number of Issued Treasury Shares |
||
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS
LLP |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN 33,632,379.00
(FY2011) |
|
Net Worth |
: |
SGD - SIN 9,759,097.00
(FY2011) |
|
No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
|
S1000 / SME 1000 / FG50
Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
NA |
SHAREHOLDER DETAILS
|
: |
CARRIER TRANSICOLD PTE. LTD. |
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SHAREHOLDER ID |
: |
197000149R |
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NATIONALITY |
: |
SINGAPORE |
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ADDRESS |
: |
251 JALAN AHMAD IBRAHIM SINGAPORE 629146 |
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NO. OF ORD SHARES |
: |
500,000 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
ZORAN
TALEVSKI |
|
|
ADDRESS |
: |
5
LOMANDRA AVENUE, HAMLYN HEIGHTS VICTORIA, AUSTRALIA |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/06/2006 |
|
NATIONALITY |
: |
AUSTRALIAN |
|
I/C PASSPORT |
: |
E3077990 |
|
|
||
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NAME |
: |
NITA
SIM GEOK HOON |
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ADDRESS |
: |
39
UPPER BOON KENG ROAD #10-2410 SINGAPORE 380039 |
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POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
05/07/2004 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S0019613D |
|
|
||
|
NAME |
: |
OON
WEE CHIN |
|
ADDRESS |
: |
276
OCEAN DRIVE #04-32 COAST @ SENTOSA COVE, THE SINGAPORE 098449 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
31/07/2008 |
|
NATIONALITY |
: |
SINGAPORE
P.R. |
|
I/C PASSPORT |
: |
S2620259J |
|
|
||
|
NAME |
: |
THIRUVENGADAM
RAMESH |
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ADDRESS |
: |
8
SIMEI RISE #03-19 CHANGI RISE CONDOMINIUM SINGAPORE 528803 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
20/05/2008 |
|
NATIONALITY |
: |
INDIAN |
|
I/C PASSPORT |
: |
S2670526F |
KEY PERSONNEL PROFILE
|
ZORAN TALEVSKI |
|
|
NRIC Number: |
E3077990 |
|
Available Address: |
5 LOMANDRA AVENUE, HAMLYN
HEIGHTS VICTORIA, AUSTRALIA |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
CARRIER ARCD PTE. LTD. |
DIRECTOR |
30/06/2006 |
- |
NA |
|
|
2 |
CARRIER ASIA PACIFIC
OPERATIONS PTE LTD |
DIRECTOR |
03/07/2006 |
- |
NA |
|
3 |
CARRIER SINGAPORE (PTE)
LIMITED |
DIRECTOR |
28/06/2006 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
|
CARRIER TRANSICOLD PTE. LTD. |
LIVE COMPANY |
DIRECTOR |
08/09/2010 |
08/11/2012 |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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|
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Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
|
Company |
Shareholdings (%) |
|
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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
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
13/06/2012 |
|
Date of A/C Laid At Last AGM |
: |
30/11/2011 |
COMPLIANCE RATING FOR ANNUAL FILING
|
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 |
||||||
|
|
NOV 2011 |
% Change |
NOV 2010 |
NOV 2009 |
NOV 2008 |
NOV 2007 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
|
|
|
|
|
|
|
33,632,379 |
-24.92 |
44,798,144 |
42,998,871 |
78,370,947 |
71,868,045 |
|
|
Profit/(Loss) Before Tax |
6,209,885 |
-16.56 |
7,442,015 |
5,253,849 |
8,705,801 |
8,258,744 |
|
Profit After Tax attributable to
Shareholders |
5,809,032 |
-17.47 |
7,038,504 |
5,172,527 |
8,092,794 |
7,821,349 |
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|
|
|
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Balance Sheet Key Figures |
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Total Assets |
17,558,642 |
-17.17 |
21,197,980 |
22,942,577 |
32,052,693 |
35,275,831 |
|
Current Assets |
17,523,703 |
-17.03 |
21,120,885 |
22,807,873 |
32,033,207 |
35,248,125 |
|
Non Current Assets |
34,939 |
-54.68 |
77,095 |
134,704 |
19,486 |
27,706 |
|
|
|
|
|
|
|
|
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Total Liabilities |
7,799,546 |
-44.86 |
14,143,883 |
5,864,658 |
20,530,334 |
15,148,235 |
|
Current Liabilities |
7,723,985 |
-45.38 |
14,140,549 |
5,847,159 |
20,530,334 |
15,145,353 |
|
Non Current Liabilities |
75,561 |
2,166.38 |
3,334 |
17,499 |
0 |
2,882 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
9,759,097 |
38.35 |
7,054,098 |
17,077,921 |
11,522,359 |
20,127,596 |
|
Share Capital |
381,556 |
-8.43 |
416,669 |
443,421 |
429,155 |
459,145 |
|
Total Reserves |
9,377,541 |
41.28 |
6,637,429 |
16,634,500 |
11,093,204 |
19,668,451 |
FINANCIAL RATIOS
|
|
|||||
|
|
NOV
2011 |
NOV
2010 |
NOV
2009 |
NOV
2008 |
NOV
2007 |
|
Growth % |
|
|
|
|
|
|
-24.92 |
4.18 |
-45.13 |
9.05 |
NA |
|
|
|
|
|
|
|
|
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Profitability |
|
|
|
|
|
|
Profit Margin (%) |
17.27 |
15.71 |
12.03 |
10.33 |
10.88 |
|
Return on Equity (%) |
59.52 |
99.78 |
30.29 |
70.24 |
38.86 |
|
Return on Assets (%) |
33.08 |
33.20 |
22.55 |
25.25 |
22.17 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
0.80 |
2.01 |
0.34 |
1.78 |
0.75 |
|
Current Debt/Equity (Times) |
0.79 |
2.00 |
0.34 |
1.78 |
0.75 |
|
Long Term Debt To Equity (Times) |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
1.80 |
3.01 |
1.34 |
2.78 |
1.75 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
1.92 |
2.11 |
1.87 |
2.45 |
2.04 |
|
Fixed Assets Turnover (Times) |
962.60 |
581.08 |
319.21 |
4,021.91 |
2,593.95 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
2.27 |
1.49 |
3.90 |
1.56 |
2.33 |
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of
net profit on sales of 17.27 per cent in FY11 (FY10: 15.71 per cent). The company
is now able to book in SGD - SIN 0.17 of profit for every SGD - SIN of sales in
FY11, as compared with SGD - SIN 0.16 a year ago.
Liquidity
Current ratio stood at 2.27 times in FY11
(FY10: 1.49 times). This means that the company has SGD - SIN 2.27 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 0.80 times in FY11, as compared with 2.01 times in FY10. This means
that the company requires additional external financing of SGD - SIN 0.80 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 59.52 per cent for Subject in the current financial
period, as compared to 99.78 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 33.08 per cent (FY10: 33.20 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 1.92 times in FY11 (FY10: 2.11
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.54.84 |
|
UK Pound |
1 |
Rs.89.11 |
|
Euro |
1 |
Rs.72.47 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.