MIRA INFORM REPORT
|
Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KERNEOS ASIA PACIFIC PTE. LTD. |
|
|
|
|
Formerly Known As : |
LAFARGE ALUMINATES ASIA PACIFIC PTE LTD |
|
|
|
|
Registered Office : |
230 Orchard Road #09-236 Faber House Singapore 238854 |
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|
|
Country : |
Singapore |
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|
|
|
Financials (as on) : |
31.12.2010 |
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|
|
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Date of Incorporation : |
31.01.1996 |
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|
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Com. Reg. No.: |
199600769C |
|
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|
|
Legal Form : |
Limited Private Company |
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|
|
|
Line of Business : |
Wholesale of chemicals and chemical products |
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|
|
|
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 |
|
Maximum Credit Limit : |
S$1,000,000 |
|
|
|
|
Status : |
Good |
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|
|
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Payment
Behaviour : |
No Complaints |
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|
|
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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 30th, 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
|
: |
KERNEOS ASIA PACIFIC PTE.
LTD. |
|
|
Registration No |
: |
199600769C |
|
Date of Registration |
: |
31/01/1996 |
|
Former Name |
: |
LAFARGE ALUMINATES ASIA
PACIFIC PTE LTD Eff. date : 31/01/1996 Eff. date : 31/01/1996 |
|
Date of Change of Name |
: |
13/07/2006 |
|
Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
230 ORCHARD ROAD #09-236
FABER HOUSE SINGAPORE 238854 |
|
Date of Change of Address |
: |
10/12/2001 |
|
Contact No. |
: |
6737 3379 |
|
Fax No. |
: |
6734 8516 |
|
Website |
: |
NA |
|
Registered Activities |
: |
WHOLESALE OF CHEMICALS
AND CHEMICAL PRODUCTS NEC |
|
Issued Ordinary Capital* |
: |
$1,550,000.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 1,550,000 |
|
Issued Preference Capital |
: |
$815,000.00 SINGAPORE, DOLLARS
NO. OF SHARE : 815,000 |
|
Paid-Up Ordinary Capital |
: |
$1,550,000.00 SINGAPORE,
DOLLARS |
|
Paid-Up Preference
Capital |
: |
$815,000.00 SINGAPORE,
DOLLARS |
|
* 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 |
: |
LOKE LUM & PARTNERS |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SINGAPORE, DOLLARS 39,803,347.44
(FY2010) |
|
Net Worth |
: |
SINGAPORE, DOLLARS
7,628,805.37 (FY2010) |
|
No. of Bank Charges |
: |
NA |
|
No. of Litigation Suits |
: |
NA |
|
S1000 / SME 500 / FG50
Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
3.76% (4
years) |
Credit Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
|
: |
KERNEOS |
|
|
SHAREHOLDER ID |
: |
T09UF1299H |
|
NATIONALITY |
: |
FRANCE |
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ADDRESS |
: |
8 RUE DES GRAVIERS-92200 NEUILLY SUR SEINE FRANCE FRANCE |
|
NO. OF ORD SHARES NO. OF PREF SHARES |
: |
1,550,000 815,000 |
|
% OF SHAREHOLDING |
: |
100.0% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
JEAN-MARC
VINCENT BIANCHI |
|
|
ADDRESS |
: |
LES
BRUYERES, 21 RUE DE VINDE 78170 LA CELLE SAINT CLOUD, FRANCE |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
03/12/2001 |
|
NATIONALITY |
: |
FRENCH |
|
I/C PASSPORT |
: |
03XY27518 |
|
|
||
|
NAME |
: |
PIERRE-ANTOINE,
RENE, GERARD GUILLON |
|
ADDRESS |
: |
10,
RESIDENCE DU CLOS BARON 78112 FOURQUEUX FRANCE |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
02/02/2011 |
|
NATIONALITY |
: |
FRENCH |
|
I/C PASSPORT |
: |
06AL76504 |
|
|
||
|
NAME |
: |
LEE KEE
LIANG |
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ADDRESS |
: |
111
CLEMENTI STREET 13 #02-32 SINGAPORE 120111 |
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POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
31/01/1996 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1242426D |
|
|
||
|
NAME |
: |
CHEN
SIN FOOK |
|
ADDRESS |
: |
619
CHOA CHU KANG NORTH 7 #05-403 SINGAPORE 680619 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
15/04/2002 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1777177I |
KEY PERSONNEL PROFILE
|
JEAN-MARC VINCENT BIANCHI |
|
|
NRIC Number: |
03XY27518 |
|
Available Address: |
LES BRUYERES, 21 RUE DE VINDE
78170 LA CELLE SAINT CLOUD, FRANCE |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
KERNEOS ASIA PACIFIC PTE. LTD. |
DIRECTOR |
03/12/2001 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
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Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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|
Litigation Search – Writ of Summons
|
Court |
Case No. |
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
RECORDS
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
01/07/2011 |
|
Date of A/C Laid At Last AGM |
: |
31/12/2010 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||||
|
|
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 |
|
|
|
|
|
|
|
39,803,347 |
31.80 |
30,199,423 |
40,659,174 |
39,160,824 |
34,344,393 |
|
|
Profit/(Loss) Before Tax |
2,477,356 |
74.72 |
1,417,928 |
2,880,211 |
1,441,256 |
484,460 |
|
Profit After Tax attributable to
Shareholders |
2,165,534 |
73.34 |
1,249,285 |
2,373,615 |
1,241,510 |
212,936 |
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|
|
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Balance Sheet Key Figures |
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Total Assets |
11,275,072 |
4.45 |
10,794,205 |
14,004,556 |
13,665,182 |
11,203,887 |
|
Current Assets |
11,262,005 |
4.54 |
10,773,035 |
13,975,924 |
13,656,721 |
11,190,972 |
|
Non Current Assets |
13,067 |
-38.28 |
21,170 |
28,632 |
8,461 |
12,915 |
|
|
|
|
|
|
|
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|
Total Liabilities |
3,646,266 |
-15.32 |
4,305,821 |
8,924,239 |
10,782,733 |
9,473,773 |
|
Current Liabilities |
2,786,639 |
-35.28 |
4,305,821 |
8,924,239 |
10,782,733 |
9,473,773 |
|
Non Current Liabilities |
859,628 |
NA |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
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|
Shareholders' Funds |
7,628,805 |
17.58 |
6,488,384 |
5,080,317 |
2,882,449 |
1,730,114 |
|
Share Capital |
1,293,800 |
-36.26 |
2,029,651 |
1,968,138 |
2,095,930 |
2,209,831 |
|
Total Reserves |
6,335,006 |
42.08 |
4,458,733 |
3,112,179 |
786,519 |
(479,717) |
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|
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FINANCIAL RATIOS
|
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|||||
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|
DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
DEC
2006 |
|
Growth % |
|
|
|
|
|
|
31.80 |
-25.73 |
3.83 |
14.02 |
NA |
|
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|
|
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Profitability |
|
|
|
|
|
|
Profit Margin (%) |
5.44 |
4.14 |
5.84 |
3.17 |
0.62 |
|
Return on Equity (%) |
28.39 |
19.25 |
46.72 |
43.07 |
12.31 |
|
Return on Assets (%) |
19.21 |
11.57 |
16.95 |
9.09 |
1.90 |
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Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
0.48 |
0.66 |
1.76 |
3.74 |
5.48 |
|
Current Debt/Equity (Times) |
0.37 |
0.66 |
1.76 |
3.74 |
5.48 |
|
Long Term Debt To Equity (Times) |
0.11 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
1.48 |
1.66 |
2.76 |
4.74 |
6.48 |
|
|
|
|
|
|
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Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
3.53 |
2.80 |
2.90 |
2.87 |
3.07 |
|
Fixed Assets Turnover (Times) |
3,046.14 |
1,426.50 |
1,420.06 |
4,628.39 |
2,659.26 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
4.04 |
2.50 |
1.57 |
1.27 |
1.18 |
FINANCIAL
COMMENTARY
Compound Annual
Growth Rate
The company's CAGR is 3.76% (4 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 5.44 per cent in FY10 (FY09: 4.14 per cent). The company
is now able to book in SINGAPORE, DOLLARS 0.05 of profit for every SINGAPORE,
DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.04 a year ago.
Liquidity
Current ratio stood at 4.04 times in FY10 (FY09:
2.50 times). This means that the company has SINGAPORE, DOLLARS 4.04 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 0.48 times in FY10, compared with 0.66 times in FY09. This means that
the company requires additional external financing of SINGAPORE, DOLLARS 0.48
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 28.39 per cent for Subject in the current financial
period, as compared to 19.25 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 19.21 per cent (FY09: 11.57 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 3.53 times in FY10 (FY09: 2.80
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.49.14 |
|
UK Pound |
1 |
Rs.77.86 |
|
Euro |
1 |
Rs.66.06 |
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.