MIRA INFORM REPORT

 

 

Report Date :

28.02.2012

 

IDENTIFICATION DETAILS

 

Name :

LINDE MATERIAL HANDLING ASIA PACIFIC PTE LTD

 

 

Formerly Known As :

LINDE ASIA PACIFIC PTE LTD

 

 

Registered Office :

5 Loyang Way Singapore 508720

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.10.1994

 

 

Com. Reg. No.:

199407183C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Industrial Machinery and Equipment

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

Payment Behaviour :

Unknown

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

:

LINDE MATERIAL HANDLING ASIA PACIFIC PTE LTD

Registration No

:

199407183C

Date of Registration

:

05/10/1994

Former Name

:

LINDE ASIA PACIFIC PTE LTD Eff. date : 05/10/1994 Eff. date : 05/10/1994

Date of Change of Name

:

17/05/1996

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

5 LOYANG WAY SINGAPORE 508720

Date of Change of Address

:

08/05/1999

Contact No.

:

6545 3488

Fax No.

:

6545 5010

Website

:

www.lindemh.com.sg

Registered Activities

:

WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

Issued Ordinary Capital*

:

$41,058,749.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 41,058,749

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$41,058,749.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 25,305,186.42 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (666,119.06) (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)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

LINDE MATERIAL HANDLING GMBH

SHAREHOLDER ID

:

T08UF1417H

NATIONALITY

:

GERMANY

ADDRESS

:

CARL-VON-LINDE-PLATZ 63743 ASCHAFFENBURG, GERMANY

NO. OF ORD SHARES

:

41,058,749

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHRISTOPHE PAUL BERNARD LAUTRAY

ADDRESS

:

56 RUE LA BRUYERE, 75009 PARIS, FRANCE

POSITION

:

DIRECTOR

DATE OF APPT

:

14/07/2009

NATIONALITY

:

FRENCH

I/C PASSPORT

:

030875J00344

 

NAME

:

JENS FRANZ WALTER SPLITTGERBER

ADDRESS

:

RM F, 28TH FLOOR HUE VIEW CITY, NO. 87 HUBIN WEST ROAD, XIAMEN, CHINA 361001

POSITION

:

DIRECTOR

DATE OF APPT

:

02/04/2007

NATIONALITY

:

GERMAN

I/C PASSPORT

:

129724682

 

NAME

:

QUEK CHING PONG

ADDRESS

:

72 YUN HAI SHAN ZHUAN, HUANG CUO ROAD, XIAMEN 361008 , P.R. CHINA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2006

NATIONALITY

:

MALAYSIAN

I/C PASSPORT

:

A10696089

 

NAME

:

CHUA HWEE KEONG JAMES

ADDRESS

:

196 CARPMAEL ROAD SINGAPORE 429934

POSITION

:

DIRECTOR

DATE OF APPT

:

02/01/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0073152H

 

NAME

:

LIM BEE ENG

ADDRESS

:

289 BISHAN STREET 24 #16-17 SINGAPORE 570289

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1626446F

 

 

KEY PERSONNEL PROFILE

 

Name:

CHUA HWEE KEONG JAMES

NRIC Number:

S0073152H

Available Address:

196 CARPMAEL ROAD  SINGAPORE 429934

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

LINDE MATERIAL HANDLING ASIA PACIFIC PTE LTD

DIRECTOR

02/01/2002

-

-

 

 

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.

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

:

03/06/2011

Date of Last AR

:

17/06/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

25,305,186

26.44

20,014,181

38,632,423

31,585,194

29,055,934

Profit/(Loss) Before Tax

1,224,768

NA

(2,399,062)

64,895

612,143

770,596

Profit After Tax attributable to Shareholders

994,657

NA

(2,014,496)

132,687

367,549

1,879,012

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

20,528,109

-4.48

21,490,673

27,804,792

32,050,682

30,528,103

Current Assets

9,771,684

-0.74

9,844,841

15,286,487

20,349,263

18,245,174

Non Current Assets

10,756,425

-7.64

11,645,832

12,518,305

11,701,419

12,282,929

 

 

 

 

 

 

 

Total Liabilities

21,194,228

-8.57

23,180,314

27,425,255

31,804,733

30,645,394

Current Liabilities

17,602,428

95.49

9,004,264

27,425,255

31,804,733

18,956,556

Non Current Liabilities

3,591,800

-74.66

14,176,050

0

0

11,688,838

 

 

 

 

 

 

 

Shareholders' Funds

(666,119)

NA

(1,689,641)

379,537

245,949

(117,292)

Share Capital

4,382,610

-11.32

4,942,059

5,073,593

5,055,088

4,876,028

Total Reserves

(5,048,729)

NA

(6,631,700)

(4,694,056)

(4,809,139)

(4,993,320)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

26.44

-48.19

22.31

8.70

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

3.93

-10.07

0.34

1.16

6.47

Return on Equity (%)

-149.32

119.23

34.96

149.44

-1,602.00

Return on Assets (%)

4.85

-9.37

0.48

1.15

6.16

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-31.82

-13.72

72.26

129.31

-261.27

Current Debt/Equity (Times)

0.00

0.00

72.26

129.31

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-30.82

-12.72

73.26

130.31

-260.27

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.23

0.93

1.39

0.99

0.95

Fixed Assets Turnover (Times)

2.35

1.72

3.09

2.70

2.37

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.56

1.09

0.56

0.64

0.96

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 3.93 per cent in FY10. The company is now able to book in SINGAPORE, DOLLARS 0.04 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 0.56 times in FY10 (FY09: 1.09 times). This means that the company has SINGAPORE, DOLLARS 0.56 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

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 4.85 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 1.23 times in FY10 (FY09: 0.93 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.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

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.