MIRA INFORM REPORT

 

 

Report Date :

27.07.2012

 

IDENTIFICATION DETAILS

 

Name :

OTIS ELEVATOR COMPANY (S) PTE LTD

 

 

Registered Office :

20 Bendemeer Road #07-01/14 Singapore 339914

 

 

Country :

Singapore

 

 

Financials (as on) :

30.11.2011

 

 

Date of Incorporation :

07.12.1981

 

 

Com. Reg. No.:

198105619c

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture and repair of lifts and escalators

Manufacture & repair of lifts and escalators

 

 

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 :

Exists

 

 

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:

OTIS ELEVATOR COMPANY (S) PTE LTD

198105619C

 

Date Incorporated:

Registered Office:

Telephone Number:

07/12/1981

20 BENDEMEER ROAD #07-01/14 SINGAPORE 339914

6298 7733

Age of Company:

Website:

Industry Type:

31

www.otis.com

CONSTRUCTION

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

9

 

Payment pattern as per previous month

No. of Charges(s):
0

 

Industry DTC

 

32

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

UNITED TECHNOLOGIES INTERNATIONAL CORPORATION-ASIA PRIVATE LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

OTIS ELEVATOR COMPANY (S) PTE LTD

Registration No

:

198105619C

Date of Registration

:

07/12/1981

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

20 BENDEMEER ROAD #07-01/14 SINGAPORE 339914

Date of Change of Address

:

20/01/2003

Contact No.

:

6298 7733

Fax No.

:

6297 2646

Website

:

www.otis.com

Registered Activities

:

1. MANUFACTURE AND REPAIR OF LIFTS AND ESCALATORS

MANUFACTURE & REPAIR OF LIFTS AND ESCALATORS

2. INSTALLATION AND ERECTION OF BUILDING EQUIPMENT (EG LIFTS, ESCALATORS, TRAVELLATORS)

INSTALLATION & ERECTION OF BLDG EQUIPMENT IN CONSTRUCTION SITES

Issued Ordinary Capital*

:

$45,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 45,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$45,000,000.00 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

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 67,100,982.00 (FY2011)

Net Worth

:

SGD - SIN 65,869,116.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

990 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

625 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

818 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

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

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

UNITED TECHNOLOGIES INTERNATIONAL CORPORATION-ASIA PRIVATE LIMITED

SHAREHOLDER ID

:

199506216G

NATIONALITY

:

SINGAPORE

ADDRESS

:

72 ANSON ROAD #09-00 ANSON HOUSE SINGAPORE 079911

NO. OF ORD SHARES

:

45,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TRACY LAUREN CORDES-FREI

ADDRESS

:

20 BENDEMEER ROAD #07-01 SINGAPORE 339914

POSITION

:

DIRECTOR

DATE OF APPT

:

15/12/2010

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5072303N

 

NAME

:

PATRICK JACQUES JOSEPH BLETHON

ADDRESS

:

300 BEACH ROAD #31-04/05 CONCOURSE, THE SINGAPORE 199555

POSITION

:

DIRECTOR

DATE OF APPT

:

01/02/2012

NATIONALITY

:

FRENCH

I/C PASSPORT

:

G5246978W

 

NAME

:

GONZALO RAUL CAJADE

ADDRESS

:

300 BEACH ROAD #31-04/05 CONCOURSE, THE SINGAPORE 199555

POSITION

:

DIRECTOR

DATE OF APPT

:

01/02/2012

NATIONALITY

:

ARGENTINIAN

I/C PASSPORT

:

G5247564W

 

NAME

:

LOONG JESSIE (LONG JESSIE)

ADDRESS

:

55 LORONG 40 GEYLANG #08-15 WATERINA, THE SINGAPORE 398079

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7408457E

 

NAME

:

CHOOI JNG YNG, JERRICA

ADDRESS

:

15 BALMEG HILL #03-26 PEAK@BALMEG, THE SINGAPORE 119918

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7508605I

 

 

KEY PERSONNEL PROFILE

 

Name:

TRACY LAUREN CORDES-FREI

NRIC Number:

G5072303N

Available Address:

20 BENDEMEER ROAD #07-01  SINGAPORE 339914

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

OTIS ELEVATOR COMPANY (S) PTE LTD

DIRECTOR

15/12/2010

-

-

2

OTIS ELEVATOR COMPANY (S) PTE LTD

MANAGING DIRECTOR

15/12/2010

-

-

 

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.

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

 

there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

W.e.f 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

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

3

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

:

Supreme Court

 

Case No.

:

218

 

Transfer

:

-

 

Date of Filing

:

04/04/2007

 

Amount

:

SGD 485,341.65

SGD 323,400.00

SGD 21,375.00

 

Cause

:

Contract - Sale of goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

GAMMA SERVICES PTE LTD

 

Last Update Date

:

24/08/2011

 

2)

Court

:

Magistrate Court

 

Case No.

:

24024

 

Transfer

:

-

 

Date of Filing

:

13/09/2010

 

Amount

:

3,620.00

 

Cause

:

Tort - Negligence (Motor Accidents)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LEW NYOK THYE

 

Last Update Date

:

03/04/2012

 

3)

Court

:

District Court

 

Case No.

:

814

 

Transfer

:

-

 

Date of Filing

:

21/03/2012

 

Amount

:

250,000.00

 

Cause

:

Tort - Negligence (Others)

 

Case Status

:

PENDING

 

Plaintiff

:

KHOO HOCK SIEW

 

Last Update Date

:

16/07/2012

 

4)

Court

:

District Court

 

Case No.

:

980

 

Transfer

:

-

 

Date of Filing

:

04/04/2012

 

Amount

:

0.00

 

Cause

:

Others / Miscellaneous

 

Case Status

:

PENDING

 

Plaintiff

:

ANG PEI LEI

 

Last Update Date

:

16/07/2012

 

5)

Court

:

District Court

 

Case No.

:

1254

 

Transfer

:

-

 

Date of Filing

:

03/05/2012

 

Amount

:

250,000.00

 

Cause

:

Tort - Negligence (Others)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TAN GUAN

LIM JUI SENG

 

Last Update Date

:

06/07/2012

 

6)

Court

:

Supreme Court

 

Case No.

:

4356

 

Transfer

:

-

 

Date of Filing

:

29/07/1986

 

Amount

:

0.00

 

Cause

:

Negligence - Industrial (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

JELIAH BTE DIRSON,THE ADMINISTRATRIS OF THE EASTE OF MALEK  BIN ISMAIL,DECEASED

 

Last Update Date

:

09/02/2011

 

7)

Court

:

District Court

 

Case No.

:

581

 

Transfer

:

-

 

Date of Filing

:

22/01/1993

 

Amount

:

0.00

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CHUA YAN CHONG

 

Last Update Date

:

09/02/2011

 

8)

Court

:

Supreme Court

 

Case No.

:

1674

 

Transfer

:

-

 

Date of Filing

:

02/09/1997

 

Amount

:

0.00

 

Cause

:

Declaration

 

Case Status

:

CONCLUDED

 

Plaintiff

:

GRANDLINK GROUP PTE LTD

 

Last Update Date

:

09/02/2011

 

9)

Court

:

District Court

 

Case No.

:

1969

 

Transfer

:

-

 

Date of Filing

:

09/04/1998

 

Amount

:

0.00

 

Cause

:

Tort (General)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CIDECO PTE LTD

 

Last Update Date

:

09/02/2011

 

 

COMPLIANCE

 

Date of Last AGM

:

18/06/2012

Date of Last AR

:

02/07/2012

Date of A/C Laid At Last AGM

:

30/11/2011
 

 

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

 

NOV 2011

% Change

NOV 2010

NOV 2009

NOV 2008

NOV 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

67,100,982

-4.90

70,559,835

78,100,684

75,597,804

67,390,037

Profit/(Loss) Before Tax

25,269,103

22.37

20,649,360

21,608,767

18,898,459

24,901,367

Profit After Tax attributable

 to Shareholders

20,869,116

20.65

17,297,630

17,890,827

16,206,147

20,572,732

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

94,660,169

0.47

94,221,047

88,057,121

141,519,893

120,113,224

Current Assets

48,866,010

1.73

48,036,380

40,397,414

95,941,447

74,418,995

Non Current Assets

45,794,159

-0.85

46,184,667

47,659,707

45,578,446

45,694,229

 

 

 

 

 

 

 

Total Liabilities

28,791,053

-0.83

29,032,590

25,166,294

23,970,016

18,769,494

Current Liabilities

28,786,053

-0.65

28,974,590

25,144,294

23,970,016

18,769,494

Non Current Liabilities

5,000

-91.38

58,000

22,000

0

0

 

 

 

 

 

 

 

Shareholders' Funds

65,869,116

1.04

65,188,457

62,890,827

117,549,877

101,343,730

Share Capital

45,000,000

0.00

45,000,000

45,000,000

45,000,000

45,000,000

Total Reserves

20,869,116

3.37

20,188,457

17,890,827

72,549,877

56,343,730

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

NOV 2011

NOV 2010

NOV 2009

NOV 2008

NOV 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-4.90

-9.66

3.31

12.18

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

31.10

24.51

22.91

21.44

30.53

Return on Equity (%)

31.68

26.53

28.45

13.79

20.30

Return on Assets (%)

22.05

18.36

20.32

11.45

17.13

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.44

0.45

0.40

0.20

0.19

Current Debt/Equity (Times)

0.44

0.44

0.40

0.20

0.19

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.44

1.45

1.40

1.20

1.19

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.71

0.75

0.89

0.53

0.56

Fixed Assets Turnover (Times)

1.47

1.53

1.64

1.66

1.47

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.70

1.66

1.61

4.00

3.96

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 31.10 per cent in FY11 (FY10: 24.51 per cent). The company is now able to book in SGD - SIN 0.31 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.25 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.70 times in FY11 (FY10: 1.66 times). This means that the company has SGD - SIN 1.70 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.

 

Leverage

Total debt-to-equity ratio notched 0.44 times in FY11, compared with 0.45 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.44 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 31.68 per cent for Subject in the current financial period, as compared to 26.53 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 22.05 per cent (FY10: 18.36 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 0.71 times in FY11 (FY10: 0.75 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.55.95

UK Pound

1

Rs.86.56

Euro

1

Rs.67.95

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.