MIRA INFORM REPORT

 

 

Report Date :

18.06.2012

 

IDENTIFICATION DETAILS

 

Name :

KEMEL ASIA PACIFIC PTE. LTD.

 

 

Formerly Known As :

KOBELCO EAGLE MARINE ASIA PACIFIC PTE. LTD.

 

 

Registered Office :

26 Pandan Loop Singapore 128244

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

09.12.1996

 

 

Com. Reg. No.:

199608737M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Marine Equipment and Accessories (Including Marine Navigational Equipment And Radar)

 

 

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

 

 

 

Date Incorporated:

Registered Office:

Telephone Number:

09/12/1996

26 PANDAN LOOP SINGAPORE 128244

6779 1300

Age of Company:

Website:

Industry Type:

16

NA

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

2

3

Better than last month;last month the entity took -7 days to pay

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

EAGLE INDUSTRY CO., LTD.-KEMEL COMPANY

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

KEMEL ASIA PACIFIC PTE. LTD.

Registration No

:

199608737M

Date of Registration

:

09/12/1996

Former Name

:

1.KOBELCO MARINE ASIA PTE LTD Eff. date : 09/12/1996 Eff. date : 09/12/1996

2.KOBELCO EAGLE MARINE ASIA PACIFIC PTE. LTD. Eff. date : 01/04/2004 Eff. date : 01/04/2004

Date of Change of Name

:

10/05/2010

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

26 PANDAN LOOP SINGAPORE 128244

Date of Change of Address

:

10/05/2003

Contact No.

:

6779 1300

Fax No.

:

6777 9224

Website

:

NA

Registered Activities

:

WHOLESALE OF MARINE EQUIPMENT AND ACCESSORIES (INCLUDING MARINE NAVIGATIONAL EQUIPMENT AND RADAR)

Issued Ordinary Capital*

:

$300,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 300,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$300,000.00 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

:

FOO KON TAN GRANT THORNTON LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 19,589,095.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 10,660,763.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

2

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

11.33% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

EAGLE INDUSTRY CO., LTD.-KEMEL COMPANY

SHAREHOLDER ID

:

S96UF0247H

NATIONALITY

:

NA

ADDRESS

:

SEIWA BUILDING 8F, 1-12-15 SHIBA DAIMON MINATO-KU, TOKYO 105-8587 JAPAN

NO. OF ORD SHARES

:

300,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SUSUMU FUJII

ADDRESS

:

26 PANDAN LOOP SINGAPORE 128244

POSITION

:

DIRECTOR

DATE OF APPT

:

29/05/2007

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5971529T

 

NAME

:

FOO SOON SOO

ADDRESS

:

4 MIMOSA VALE MIMOSA VALE SINGAPORE 807927

POSITION

:

SECRETARY

 

DATE OF APPT

:

18/02/2005

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1310912E

 

NAME

:

KATSUTOSHI SUZUKI

ADDRESS

:

27 SIMEI STREET 4 #02-10 TROPICAL SPRING SINGAPORE 529875

POSITION

:

DIRECTOR

DATE OF APPT

:

21/11/2005

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

S2707715C

 

NAME

:

KIYOSHI FUJII

ADDRESS

:

3-35-7 FUEDA, KAMAKURA KANAGAWA 248-0027, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/10/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TK3871115

 

 

KEY PERSONNEL PROFILE

 

Name:

KATSUTOSHI SUZUKI

NRIC Number:

S2707715C

Available Address:

27 SIMEI STREET 4 #02-10 TROPICAL SPRING  SINGAPORE 529875

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

EAGLE ENGINEERING AEROSPACE SINGAPORE PTE. LTD.

DIRECTOR

13/03/1996

-

-

2

EKK EAGLE INDUSTRY ASIA PACIFIC PTE. LTD.

DIRECTOR

22/11/1994

-

-

3

KEMEL ASIA PACIFIC PTE. LTD.

DIRECTOR

21/11/2005

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

EAGLEBURGMANN SINGAPORE PTE. LTD.

LIVE COMPANY

DIRECTOR

07/04/2006

11/11/2011

2

EAGLEBURGMANN SINGAPORE PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

07/04/2006

11/11/2011

 

 

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

 

To date, there have been 2 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

2

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.

:

37394

 

Transfer

:

-

 

Date of Filing

:

11/12/2002

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)

 

Case Status

:

PENDING

 

Plaintiff

:

CITYCAB PTE LTD

 

2)

Court

:

Magistrate Court

 

Case No.

:

21050

 

Transfer

:

-

 

Date of Filing

:

09/07/2009

 

Amount

:

2,024.45

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

LIM PENG LIANG

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

21/07/2011

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

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

19,589,095

4.74

18,703,066

18,507,138

15,501,625

12,752,240

Profit/(Loss) Before Tax

3,493,039

8.94

3,206,352

2,666,410

2,070,249

1,929,084

Profit After Tax attributable

 to Shareholders

2,856,142

6.26

2,687,844

2,158,410

1,690,249

1,521,084

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

14,686,101

15.08

12,761,398

10,899,745

9,761,879

7,647,710

Current Assets

13,976,986

11.16

12,573,440

10,669,847

9,450,198

7,187,529

Non Current Assets

709,115

277.27

187,958

229,898

311,681

460,181

 

 

 

 

 

 

 

Total Liabilities

4,025,338

-4.45

4,212,854

3,959,840

4,135,259

2,949,939

Current Liabilities

4,025,338

-4.31

4,206,839

3,947,993

4,117,926

2,927,445

Non Current Liabilities

0

-100.00

6,015

11,847

17,333

22,494

 

 

 

 

 

 

 

Shareholders' Funds

10,660,763

24.71

8,548,544

6,939,905

5,626,620

4,697,771

Share Capital

300,000

0.00

300,000

300,000

300,000

300,000

Total Reserves

10,360,763

25.61

8,248,544

6,639,905

5,326,620

4,397,771

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

4.74

1.06

19.39

21.56

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

14.58

14.37

11.66

10.90

11.93

Return on Equity (%)

26.79

31.44

31.10

30.04

32.38

Return on Assets (%)

19.45

21.06

19.80

17.31

19.89

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.38

0.49

0.57

0.73

0.63

Current Debt/Equity (Times)

0.38

0.49

0.57

0.73

0.62

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.38

1.49

1.57

1.73

1.63

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.33

1.47

1.70

1.59

1.67

Fixed Assets Turnover (Times)

27.62

99.51

80.50

49.74

27.71

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

3.47

2.99

2.70

2.29

2.46

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 11.33% (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 14.58 per cent in FY10 (FY09: 14.37 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.15 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.14 a year ago.

 

 

Liquidity

Current ratio stood at 3.47 times in FY10 (FY09: 2.99 times). This means that the company has SINGAPORE, DOLLARS 3.47 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.

 

Leverage

Total debt-to-equity ratio notched 0.38 times in FY10, compared with 0.49 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.38 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

 

Return on equity was 26.79 per cent for Subject in the current financial period, as compared to 31.44 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 19.45 per cent (FY09: 21.06 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 1.33 times in FY10 (FY09: 1.47 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.55.76

UK Pound

1

Rs.86.69

Euro

1

Rs.70.44

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.