MIRA INFORM REPORT

 

 

Report Date :

18.07.2012

 

IDENTIFICATION DETAILS

 

Name :

HUNTSMAN (SINGAPORE) PTE LTD

 

 

Registered Office :

150 Beach Road #37-00 Gateway West

 

 

Country :

Singapore

 

 

Financials (as on) :

DEC 2011

 

 

Date of Incorporation :

29.06.2000

 

 

Com. Reg. No.:

200005669C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Inks, Dyestuffs, Pigments And Carbon Black

 

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company Name:

Registered Number:

HUNTSMAN (SINGAPORE) PTE LTD

200005669C

 

Date Incorporated:

Registered Office:

Telephone Number:

29/06/2000

150 BEACH ROAD #37-00 GATEWAY WEST SINGAPORE 189720

6297 3363

Age of Company:

Website:

Industry Type:

12

www.huntsman.com

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

25

 

Better than last month;last month the entity took 12 days to pay

No. of Charges(s):
0

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

HUNTSMAN INVESTMENTS (NETHERLANDS) B.V.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

HUNTSMAN (SINGAPORE) PTE LTD

Registration No

:

200005669C

Date of Registration

:

29/06/2000

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

150 BEACH ROAD #37-00 GATEWAY WEST SINGAPORE 189720

Date of Change of Address

:

12/06/2006

Contact No.

:

6297 3363

Fax No.

:

6298 8606

Website

:

www.huntsman.com

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

2. MANUFACTURE OF INKS, DYESTUFFS, PIGMENTS AND CARBON BLACK

MANUFACTURE OF ALL DYES AND TEXTILE CHEMICAL PRODUCTS

Issued Ordinary Capital*

:

$12,630,230.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 12,630,230

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$12,630,230.00 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

:

SGD - SIN 426,357,435.00 (FY2011)

Net Worth

:

SGD - SIN 42,917,590.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

576 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

984 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

651 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

605 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

881 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

5.24% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HUNTSMAN INVESTMENTS (NETHERLANDS) B.V.

SHAREHOLDER ID

:

S95UF0726G

NATIONALITY

:

NETHERLANDS

ADDRESS

:

MERSEYWEG 10 3197 KG BOTLEK ROTTERDAM THE NETHERLANDS

NO. OF ORD SHARES

:

12,630,230

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

PAN LU-MIN ALIAS KENNY PAN

ADDRESS

:

10-8, 4F-1, LANE 42, ALLEY 180, MIN CHUAN EAST ROAD SEC 6, TAIPEI CITY, TAIWAN

POSITION

:

DIRECTOR

DATE OF APPT

:

23/08/2011

NATIONALITY

:

CHINESE

I/C PASSPORT

:

216480376

 

NAME

:

PAUL GRAHAM HULME

ADDRESS

:

138 GRANGE ROAD #04-02 PARKVIEW ECLAT SINGAPORE 249617

POSITION

:

DIRECTOR

DATE OF APPT

:

18/09/2009

NATIONALITY

:

BRITISH SUBJECT

I/C PASSPORT

:

G6262999T

 

NAME

:

CHAN KOK CHYE

ADDRESS

:

35 GOODMAN ROAD SINGAPORE 438998

POSITION

:

SECRETARY

DATE OF APPT

:

01/10/2001

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0165806I

 

NAME

:

PANG AI CHEE

ADDRESS

:

51 HILLVIEW AVENUE #04-06 HILLINGTON GREEN SINGAPORE 669565

POSITION

:

DIRECTOR

DATE OF APPT

:

29/04/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1346928H

 

NAME

:

STEPHEN JAMES STILLIARD

ADDRESS

:

10 PRINSEP LINK #12-09 SUNSHINE PLAZA SINGAPORE 187948

POSITION

:

DIRECTOR

DATE OF APPT

:

23/06/2005

NATIONALITY

:

BRITISH

I/C PASSPORT

:

S2767878E

 

 

 

KEY PERSONNEL PROFILE

 

Name:

PANG AI CHEE

NRIC Number:

S1346928H

Available Address:

51 HILLVIEW AVENUE #04-06 HILLINGTON GREEN  SINGAPORE 669565

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

HUNTSMAN (ASIA PACIFIC) PTE LTD

DIRECTOR

12/09/2003

-

-

2

HUNTSMAN (SINGAPORE) PTE LTD

DIRECTOR

29/04/2002

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

HUNTSMAN ADVANCED MATERIALS (SINGAPORE) PTE. LTD.

LIVE COMPANY

DIRECTOR

04/11/2003

05/03/2012

2

WHIRLPOOL SINGAPORE PTE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

DIRECTOR

15/05/1997

06/01/2001

3

WHIRLPOOL SOUTHEAST ASIA PTE

LIVE COMPANY

DIRECTOR

01/12/1997

29/12/2000

 

 

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

M

7406

-

2012

20/03/2012

SGD 3,200.00

Negligence Related

 

 

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.

 

 

COMPLIANCE

 

Date of Last AGM

:

29/06/2012

Date of Last AR

:

05/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

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

Company

 

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

426,357,435

-12.32

486,257,616

361,375,882

337,008,443

347,634,272

Profit/(Loss) Before Tax

3,345,799

-85.66

23,324,503

(13,182,660)

17,633,372

6,726,809

Profit After Tax attributable

 to Shareholders

2,775,344

-88.32

23,763,584

(12,855,255)

15,105,608

6,715,661

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

204,598,149

-13.90

237,622,082

198,609,247

204,119,591

186,620,230

Current Assets

156,181,478

-16.87

187,883,524

145,787,830

150,461,721

126,397,839

Non Current Assets

48,416,671

-2.66

49,738,558

52,821,417

53,657,870

60,222,391

 

 

 

 

 

 

 

Total Liabilities

161,680,559

-16.71

194,112,934

177,494,110

142,960,576

137,575,682

Current Liabilities

131,402,972

-18.54

161,301,154

143,110,826

108,402,548

93,168,596

Non Current Liabilities

30,277,587

-7.72

32,811,780

34,383,284

34,558,028

44,407,086

 

 

 

 

 

 

 

Shareholders' Funds

42,917,590

-1.36

43,509,148

21,115,137

61,159,013

49,044,547

Share Capital

9,928,834

-7.74

10,761,608

11,508,044

11,158,817

11,883,576

Total Reserves

32,988,756

0.74

32,747,540

9,607,093

50,000,196

37,160,971

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-12.32

34.56

7.23

-3.06

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.65

4.89

-3.56

4.48

1.93

Return on Equity (%)

6.47

54.62

-60.88

24.70

13.69

Return on Assets (%)

1.36

10.00

-6.47

7.40

3.60

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.77

4.46

8.41

2.34

2.81

Current Debt/Equity (Times)

3.06

3.71

6.78

1.77

1.90

Long Term Debt To Equity (Times)

0.71

0.75

1.63

0.57

0.91

Total Asset To Total Equity (Times)

4.77

5.46

9.41

3.34

3.81

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.08

2.05

1.82

1.65

1.86

Fixed Assets Turnover (Times)

8.81

9.78

6.84

6.28

5.77

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.19

1.16

1.02

1.39

1.36

 

 

 

 

 

 
 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 5.24% (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 0.65 per cent in FY11 (FY10: 4.89 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.19 times in FY11 (FY10: 1.16 times). This means that the company has SGD - SIN 1.19 of current assets for every SGD - SIN of current liability incurred.

 

 

FINANCIAL COMMENTARY

 

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 3.77 times in FY11, as compared with 4.46 times in FY10. This means that the company requires additional external financing of SGD - SIN 3.77 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 6.47 per cent for Subject in the current financial period, as compared to 54.62 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 1.36 per cent (FY10: 10.00 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 2.08 times in FY11 (FY10: 2.05 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.55.14

UK Pound

1

Rs.86.29

Euro

1

Rs.67.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.