MIRA INFORM REPORT

 

 

Report Date :

15.06.2012

 

IDENTIFICATION DETAILS

 

Name :

ASIA POLYURETHANE MFG PTE LTD

 

 

Formerly Known As :

HAGER & KASSNER (ASIA) MFG PTE LTD

 

 

Registered Office :

22 Tuas Crescent Singapore 638716

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

07.03.1985

 

 

Com. Reg. No.:

198500541K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of petrochemical products

Manufacturer basic industrial chemicals

 

 

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 :

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:

ASIA POLYURETHANE MFG PTE LTD

198500541K

 

Date Incorporated:

Registered Office:

Telephone Number:

07/03/1985

22 TUAS CRESCENT SINGAPORE 638716

6861 6688

Age of Company:

Website:

Industry Type:

27

www.apu.com.sg

MANUFACTURING

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

2

 

Payment pattern as per previous month

No. of Charges(s):
5

 

Industry DTC

 

28

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

TAN & LIM INVESTMENT PTE. LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

ASIA POLYURETHANE MFG PTE LTD

Registration No

:

198500541K

Date of Registration

:

07/03/1985

Former Name

:

HAGER & KASSNER (ASIA) MFG PTE LTD Eff. date : 07/03/1985 Eff. date : 07/03/1985

Date of Change of Name

:

03/03/1988

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

22 TUAS CRESCENT SINGAPORE 638716

Date of Change of Address

:

NA

Contact No.

:

6861 6688

Fax No.

:

6861 2277

Website

:

www.apu.com.sg

Registered Activities

:

MANUFACTURE OF PETROCHEMICAL PRODUCTS NEC

MANUF BASIC INDUSTRIAL CHEMICALS

Issued Ordinary Capital*

:

$3,550,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,550,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,550,000.00 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

:

RSM CHIO LIM LLP

Bankers / Financiers

:

UNITED OVERSEAS BANK LIMITED

STANDARD CHARTERED BANK

OVERSEA-CHINESE BANKING CORPORATION LIMITED

Turnover

:

SGD - SIN 28,213,506.00 (FY2010)

Net Worth

:

SGD - SIN 4,562,704.00 (FY2010)

No. of Bank Charges

:

5

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

316 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011)

339 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010)

993 POSITION IN SME 1000 Companies Ranked by Net Profit (2009/2010)

193 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2008/2009)

206 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

TAN & LIM INVESTMENT PTE. LTD.

SHAREHOLDER ID

:

200509685G

NATIONALITY

:

SINGAPORE

ADDRESS

:

22 TUAS CRESCENT SINGAPORE 638716

NO. OF ORD SHARES

:

3,550,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MDM LIM ING PO (LIAN PO) @ DIAN ANISAH SALIM @ LIM CHAI HOON

ADDRESS

:

2 ONTARIO AVENUE SINGAPORE 576208

POSITION

:

DIRECTOR

DATE OF APPT

:

02/12/1986

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2175908B

 

NAME

:

ERMAN TANDJUNG @ TAN ENG MENG @ TAN AIK BENG

ADDRESS

:

2 ONTARIO AVENUE SINGAPORE 576208

POSITION

:

DIRECTOR

DATE OF APPT

:

29/12/2004

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2187181H

 

 

 

KEY PERSONNEL PROFILE

 

Name:

MDM LIM ING PO (LIAN PO) @ DIAN ANISAH SALIM @ LIM CHAI HOON

NRIC Number:

S2175908B

Available Address:

2 ONTARIO AVENUE  SINGAPORE 576208

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ASIA FINE CHEMICAL MANUFACTURING PTE. LTD.

DIRECTOR

31/03/2004

9

90.00

2

ASIA POLYURETHANE MFG PTE LTD

DIRECTOR

02/12/1986

-

-

3

ASIA POLYURETHANE MFG PTE LTD

MANAGING DIRECTOR

30/12/2002

-

-

4

TAN & LIM INVESTMENT PTE. LTD.

DIRECTOR

14/07/2005

475000

95.00

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

JAYA MAKMUR ENTERPRISE CO (PTE) LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

23/02/1977

-

2

JAYA MAKMUR ENTERPRISE CO (PTE) LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

24/02/1977

-

3

M. R. (ASIA) PTE LTD

STRUCK OFF

DIRECTOR

14/05/1988

-

4

M. R. (ASIA) PTE LTD

STRUCK OFF

DIRECTOR

14/05/1988

28/08/1997

5

STAR ANCHOR CHEMICAL (S) PTE. LIMITED

STRUCK OFF

DIRECTOR

12/05/1980

-

6

STAR ANCHOR CHEMICAL (S) PTE. LIMITED

STRUCK OFF

DIRECTOR

12/05/1980

28/08/1997

 

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 have been 5 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201111186

 

Date of Registration

:

08/09/2011

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

2)

Charge No.

:

C200504697

 

Date of Registration

:

08/08/2005

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

3)

Charge No.

:

C200501280

 

Date of Registration

:

01/03/2005

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

4)

Charge No.

:

C200405497

 

Date of Registration

:

04/11/2004

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

5)

Charge No.

:

C200404729

 

Date of Registration

:

24/09/2004

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

 

 

LITIGATION

 

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

1

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.

:

18958

 

Transfer

:

-

 

Date of Filing

:

15/10/1996

 

Amount

:

2,967.17

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

TRANS LINK EXHIBITION FORWARDING PTE LTD

 

Last Update Date

:

24/08/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

31/07/2011

Date of Last AR

:

31/08/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

 

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 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

 

 

 

 

 

 

Turnover

28,213,506

-0.80

28,440,610

31,250,584

28,933,951

34,535,606

Profit/(Loss) Before Tax

(310,369)

NA

905,665

186,773

571,313

(237,343)

Profit After Tax attributable

 to Shareholders

(304,345)

NA

769,665

148,605

504,813

(185,314)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

11,416,356

5.58

10,812,677

9,776,594

11,668,352

11,541,542

Current Assets

10,753,392

7.42

10,010,616

8,764,027

10,589,672

10,344,972

Non Current Assets

662,964

-17.34

802,061

1,012,567

1,078,680

1,196,570

 

 

 

 

 

 

 

Total Liabilities

6,853,652

25.86

5,445,628

5,037,210

6,577,573

6,955,576

Current Liabilities

6,853,652

25.86

5,445,628

5,037,210

6,577,573

6,955,576

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

4,562,704

-14.99

5,367,049

4,739,384

5,090,779

4,585,966

Share Capital

3,550,000

0.00

3,550,000

3,550,000

3,550,000

3,550,000

Total Reserves

1,012,704

-44.27

1,817,049

1,189,384

1,540,779

1,035,966

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-0.80

-8.99

8.01

-16.22

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-1.08

2.71

0.48

1.74

-0.54

Return on Equity (%)

-6.67

14.34

3.14

9.92

-4.04

Return on Assets (%)

-2.67

7.12

1.52

4.33

-1.61

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.50

1.01

1.06

1.29

1.52

Current Debt/Equity (Times)

1.50

1.01

1.06

1.29

1.52

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.50

2.01

2.06

2.29

2.52

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.47

2.63

3.20

2.48

2.99

Fixed Assets Turnover (Times)

42.56

35.46

30.86

26.82

28.86

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.57

1.84

1.74

1.61

1.49

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.57 times in FY10 (FY09: 1.84 times). This means that the company has SGD - SIN 1.57 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 1.50 times in FY10, compared with 1.01 times in FY09. This means that the company requires additional external financing of SGD - SIN 1.50 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

 

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 2.47 times in FY10 (FY09: 2.63 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.55.79

UK Pound

1

Rs.86.37

Euro

1

Rs.70.07

 

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.