MIRA INFORM REPORT

 

Report Date :

19.01.2012

 

IDENTIFICATION DETAILS

 

Name :

JOHN BEAN TECHNOLOGIES SINGAPORE PTE. LTD.

 

 

Formerly Known As :

FMC FOODTECH SINGAPORE PTE. LTD.

 

 

Registered Office :

20 Harbour Drive #04-02 Psa Vista Singapore 117612

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

29.11.2007

 

 

Com. Reg. No.:

200722150K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of commercial food service equipment (Eg hotel kitchen equipment)

 

 

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

 

Maximum Credit Limit :

S$111,000

Status :

Moderate

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 – 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

:

JOHN BEAN TECHNOLOGIES SINGAPORE PTE. LTD.

Registration No

:

200722150K

Date of Registration

:

29/11/2007

Former Name

:

FMC FOODTECH SINGAPORE PTE. LTD. Eff. date : 29/11/2007 Eff. date : 29/11/2007

Date of Change of Name

:

05/06/2008

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

20 HARBOUR DRIVE #04-02 PSA VISTA SINGAPORE 117612

Date of Change of Address

:

02/01/2008

Contact No.

:

67766220

Fax No.

:

67766229

Website

:

www.jbtarerotech.com

Registered Activities

:

1. WHOLESALE OF COMMERCIAL FOOD SERVICE EQUIPMENT (EG HOTEL KITCHEN EQUIPMENT)

SALE & SERVICE OF FOOD MACHINERY

2. SUPPORTING SERVICES TO AIR TRANSPORT NEC

AIRPORT GROUND SUPPORT EQUIPMENT

Issued Ordinary Capital*

:

$4.00 U.S. DOLLAR ,NO. OF SHARE : 4

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$4.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 55,284,934.84 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 2,221,228.45 (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

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

S$111,000

 

SHAREHOLDER DETAILS

 

NAME

:

JOHN BEAN TECHNOLOGIES CORPORATION

SHAREHOLDER ID

:

T08UF2407E

NATIONALITY

:

UNITED STATES

ADDRESS

:

200 E RANDOLPH DR., CHICAGO, ILLINOIS, USA

NO. OF ORD SHARES

:

4

% OF SHAREHOLDING

:

100%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

KEITH PATTISON

ADDRESS

:

181 LAWRENCE HARGRAVE DRIVE THIRROUL NSW 2515 AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

02/01/2008

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

E1004006

 

NAME

:

MICHAEL ANDREW BRODZIAK

ADDRESS

:

5A RIDLEY PARK #04-04 SINGAPORE 248477

POSITION

:

DIRECTOR

DATE OF APPT

:

29/11/2007

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5977834Q

 

NAME

:

CHAN CHOW PHENG

ADDRESS

:

59 TELOK BLANGAH HEIGHTS #04-11 SINGAPORE 100059

POSITION

:

SECRETARY

DATE OF APPT

:

28/02/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1298885J

 

NAME

:

PER OLA ESKIL FRIBERG

ADDRESS

:

35 JALAN HAJI ALIAS #01-14 CORONA VILLE SINGAPORE 268535

POSITION

:

DIRECTOR

DATE OF APPT

:

29/11/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2722858E

 

 

KEY PERSONNEL PROFILE

 

Name:

MICHAEL ANDREW BRODZIAK

NRIC Number:

G5977834Q

Available Address:

5A RIDLEY PARK #04-04  SINGAPORE 248477

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

JOHN BEAN TECHNOLOGIES SINGAPORE PTE. LTD.

DIRECTOR

29/11/2007

-

-

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

JOHN BEAN TECHNOLOGIES SINGAPORE PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

09/12/2011

 

 

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

:

30/09/2011

Date of Last AR

:

27/10/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

55,284,935

75.65

31,474,690

12,249,754

Profit/(Loss) Before Tax

(37,554)

NA

2,119,810

940,717

Profit After Tax attributable to Shareholders

(225,903)

NA

1,795,806

799,125

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

18,250,326

11.40

16,382,850

5,144,972

Current Assets

17,626,117

9.37

16,116,350

4,907,661

Non Current Assets

624,209

134.22

266,500

237,311

 

 

 

 

 

Total Liabilities

16,029,098

16.44

13,765,887

4,345,841

Current Liabilities

16,029,098

16.44

13,765,887

4,345,841

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

2,221,228

-15.12

2,616,964

799,131

Share Capital

5

-9.29

6

6

Total Reserves

2,221,223

-15.12

2,616,958

799,125

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

Growth %

 

 

 

Year-on-Year Growth

75.65

156.94

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

-0.41

5.71

6.52

Return on Equity (%)

-10.17

68.62

100.00

Return on Assets (%)

-1.24

10.96

15.53

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

7.22

5.26

5.44

Current Debt/Equity (Times)

7.22

5.26

5.44

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

8.22

6.26

6.44

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

3.03

1.92

2.38

Fixed Assets Turnover (Times)

88.57

118.10

51.62

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.10

1.17

1.13

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.10 times in FY10 (FY09: 1.17 times). This means that the company has SINGAPORE, DOLLARS 1.10 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 7.22 times in FY10, as compared with 5.26 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 7.22 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 3.03 times in FY10 (FY09: 1.92 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.50.66

UK Pound

1

Rs.77.72

Euro

1

Rs.64.63

 

 

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.