MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NTN BEARING-SINGAPORE (PTE) LTD

 

 

Registered Office :

9 Clementi Loop Singapore 129812

 

 

Country :

Singapore

 

 

Financials (as on) :

Mar 2011

 

 

Date of Incorporation :

24.12.1971

 

 

Com. Reg. No.:

197101440C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Importer And Exporter For Ball Bearings, Roller Bearings And Related Products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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:

NTN BEARING-SINGAPORE (PTE) LTD

197101440C

 

Date Incorporated:

Registered Office:

Telephone Number:

24/12/1971

9 CLEMENTI LOOP SINGAPORE 129812

6469 8066

Age of Company:

Website:

Industry Type:

41

NA

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

20

 

Better than last month; last month the entity took 0 days to pay

No. of Charges(s):
0

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

NTN CORPORATION

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

NTN BEARING-SINGAPORE (PTE) LTD

Registration No

:

197101440C

Date of Registration

:

24/12/1971

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

9 CLEMENTI LOOP SINGAPORE 129812

Date of Change of Address

:

01/09/1995

Contact No.

:

6469 8066

Fax No.

:

6469 5400

Website

:

NA

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

IMPORTER AND EXPORTER FOR BALL BEARINGS, ROLLER BEARINGS AND RELATED PRODUCTS

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

DEALER AND AGENT FOR BALL BEARINGS, ROLLER BEARINGS AND RELATED PRODUCTS

Issued Ordinary Capital*

:

$36,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 36,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$36,000,000.00 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

:

ERNST & YOUNG

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 234,650,648.00 (FY2011)

Net Worth

:

SGD - SIN 86,720,391.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

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

1045 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

886 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

563 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2006/2007)

704 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

13.57% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

NTN CORPORATION

SHAREHOLDER ID

:

T03UF0122L

NATIONALITY

:

JAPAN

ADDRESS

:

3-17 1-CHOME KYOMACHIBORI NISHI-KU OSAKA JAPAN

NO. OF ORD SHARES

:

35,651,160

% OF SHAREHOLDING

:

99%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

NTN CHINA LIMITED

SHAREHOLDER ID

:

T03UF0123G

NATIONALITY

:

HONG KONG

ADDRESS

:

1914-1915 PARK-IN COMMERCIAL CENTRE 56 DUNDAS STREET KOWLOON HONG KONG

NO. OF ORD SHARES

:

348,840

% OF SHAREHOLDING

:

1%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

OSAMU HIGUCHI

ADDRESS

:

9 CLEMENTI LOOP SINGAPORE 129812

POSITION

:

DIRECTOR

DATE OF APPT

:

21/09/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F1787606Q

 

NAME

:

LAU AI KEOW GRACIE

ADDRESS

:

12 AH SOO GARDEN SINGAPORE 539967

POSITION

:

SECRETARY

DATE OF APPT

:

08/03/2001

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1360161E

 

NAME

:

YUKIYOSHI HAGIMOTO

ADDRESS

:

RM 1207, KANTARY BAY HOTEL, SRIRACHA 17/2, 17/3 JERM JOMPON ROAD, SRIRACHA CHONBU 20110 THAILAND

POSITION

:

DIRECTOR

DATE OF APPT

:

14/12/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH2710858

 

 

 

KEY PERSONNEL PROFILE

 

Name:

OSAMU HIGUCHI

NRIC Number:

F1787606Q

Available Address:

9 CLEMENTI LOOP  SINGAPORE 129812

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

NTN BEARING-SINGAPORE (PTE) LTD

DIRECTOR

21/09/2011

-

-

2

NTN BEARING-SINGAPORE (PTE) LTD

MANAGING DIRECTOR

21/09/2011

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

NTN BEARING-SINGAPORE (PTE) LTD

LIVE COMPANY

DIRECTOR

11/08/2008

06/07/2012

 

 

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

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

 

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

4

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

605760

 

Transfer

:

-

 

Date of Filing

:

29/02/2000

 

Amount

:

1,812.80

 

Cause

:

SECURITIES

 

Case Status

:

PENDING

 

Plaintiff

:

ADEMCO (FAR EAST) PTE LTD

 

Last Update Date in DP Info Database

:

03/03/2000

 

2)

Court

:

Magistrate Court

 

Case No.

:

10422

 

Transfer

:

-

 

Date of Filing

:

26/03/2003

 

Amount

:

3,644.15

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)

 

Case Status

:

PENDING

 

Plaintiff

:

HOUGANG GAS TRADING CO SUING AS A FIRM

 

Last Update Date in DP Info Database

:

27/03/2003

 

3)

Court

:

Magistrate Court

 

Case No.

:

29050

 

Transfer

:

-

 

Date of Filing

:

30/11/2011

 

Amount

:

7,100.00

 

Cause

:

Tort - Negligence (Motor Accidents)

 

Case Status

:

PENDING

 

Plaintiff

:

TAN CHEW KIANG

 

Last Update Date in DP Info Database

:

30/11/2011

 

4)

Court

:

Magistrate Court

 

Case No.

:

3817

 

Transfer

:

-

 

Date of Filing

:

24/02/1998

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)

 

Case Status

:

PENDING

 

Plaintiff

:

LOH KIA FATT

 

Last Update Date in DP Info Database

:

12/03/1998

 

COMPLIANCE

 

Date of Last AGM

:

21/06/2011

Date of Last AR

:

20/07/2011

Date of A/C Laid At Last AGM

:

31/03/2011
 

 

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

 

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

234,650,648

19.95

195,629,142

178,512,667

150,178,855

141,039,586

Profit/(Loss) Before Tax

12,565,100

109.55

5,996,368

14,070,912

19,203,122

20,039,518

Profit After Tax attributable

 to Shareholders

11,200,100

123.48

5,011,713

11,890,155

16,041,856

17,113,807

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

167,287,467

6.99

156,357,939

146,174,091

133,982,196

127,214,263

Current Assets

113,892,219

1.91

111,753,185

100,991,199

88,354,584

90,513,640

Non Current Assets

53,395,248

19.71

44,604,754

45,182,892

45,627,612

36,700,623

 

 

 

 

 

 

 

Total Liabilities

80,567,076

7.00

75,298,648

60,926,513

50,124,773

45,498,696

Current Liabilities

79,178,157

7.20

73,857,222

59,575,545

48,860,610

44,159,187

Non Current Liabilities

1,388,919

-3.64

1,441,426

1,350,968

1,264,163

1,339,509

 

 

 

 

 

 

 

Shareholders' Funds

86,720,391

6.98

81,059,291

85,247,578

83,857,423

81,715,567

Share Capital

36,000,000

0.00

36,000,000

36,000,000

36,000,000

36,000,000

Total Reserves

50,720,391

12.56

45,059,291

49,247,578

47,857,423

45,715,567

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

19.95

9.59

18.87

6.48

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.77

2.56

6.66

10.68

12.13

Return on Equity (%)

12.92

6.18

13.95

19.13

20.94

Return on Assets (%)

6.70

3.21

8.13

11.97

13.45

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.93

0.93

0.71

0.60

0.56

Current Debt/Equity (Times)

0.91

0.91

0.70

0.58

0.54

Long Term Debt To Equity (Times)

0.02

0.02

0.02

0.02

0.02

Total Asset To Total Equity (Times)

1.93

1.93

1.71

1.60

1.56

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.40

1.25

1.22

1.12

1.11

Fixed Assets Turnover (Times)

4.39

4.39

3.95

3.29

3.84

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.44

1.51

1.70

1.81

2.05

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 13.57% (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 4.77 per cent in FY11 (FY10: 2.56 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.03 a year ago.

 

 

Liquidity

Current ratio stood at 1.44 times in FY11 (FY10: 1.51 times). This means that the company has SGD - SIN 1.44 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 0.93 times in FY11, compared with 0.93 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.93 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 12.92 per cent for Subject in the current financial period, as compared to 6.18 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 6.70 per cent (FY10: 3.21 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 1.40 times in FY11 (FY10: 1.25 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.55.15

UK Pound

1

Rs.86.57

Euro

1

Rs.67.60

 

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.