MIRA INFORM REPORT
|
Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
LANXESS BUTYL PTE. LTD. |
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Registered Office : |
3a International Business Park #07-10/18 Icon@Ibp Singapore 609935 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.03.2008 |
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Com. Reg. No.: |
200805083d |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Wholesale of Chemicals and Chemical Products Trading of Chemicals |
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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 |
|
Maximum Credit Limit : |
S$1,000,000 |
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|
|
Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Singapore |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Executive
Summary
Credit Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
|
: |
LANXESS INTERNATIONAL HOLDING GMBH |
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|
SHAREHOLDER ID |
: |
T08UF1609K |
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NATIONALITY |
: |
GERMANY |
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ADDRESS |
: |
51369 LEVERKUSEN GERMANY |
|
NO. OF ORD SHARES |
: |
40,050,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
DR
WERNER BREUERS |
|
|
ADDRESS |
: |
ALOYS-SCHULTE-STRASSE
22 53129 BONN |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
06/07/2010 |
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NATIONALITY |
: |
GERMAN |
|
I/C PASSPORT |
: |
C73Y3HLT4 |
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|
||
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NAME |
: |
RONALD
JOHN COMMANDER |
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ADDRESS |
: |
1A
LADY HILL ROAD #01-12 SHANGRI-LA RESIDENCES SINGAPORE 258685 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
06/07/2010 |
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NATIONALITY |
: |
BRITISH |
|
I/C PASSPORT |
: |
G6379742T |
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|
||
|
NAME |
: |
LIM
JOO JOON |
|
ADDRESS |
: |
65
SUMMER PLACE SUMMER PLACE SINGAPORE 555747 |
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POSITION |
: |
SECRETARY DIRECTOR |
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DATE OF APPT |
: |
14/03/2008 30/09/2008 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1248311B |
KEY PERSONNEL PROFILE
|
LIM JOO JOON |
|
|
NRIC Number: |
S1248311B |
|
Available Address: |
65 SUMMER PLACE SUMMER
PLACE SINGAPORE 555747 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
LANXESS BUTYL PTE. LTD. |
DIRECTOR |
30/09/2008 |
- |
- |
|
|
2 |
LANXESS BUTYL PTE. LTD. |
SECRETARY |
14/03/2008 |
- |
- |
|
3 |
LANXESS PTE. LTD. |
DIRECTOR |
01/07/2004 |
- |
- |
|
4 |
LANXESS PTE. LTD. |
SECRETARY |
10/05/2004 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
|
BAYER (SOUTH EAST ASIA) PTE
LTD |
LIVE COMPANY |
SECRETARY |
31/03/2000 |
25/01/2012 |
|
|
2 |
BAYER ENVIRONMENTAL HEALTH
SINGAPORE PRIVATE LIMITED |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
17/07/2003 |
31/03/2009 |
|
3 |
BAYER INTERNATIONAL S.A. |
CEASED REGISTRATION |
AGENT |
27/12/2001 |
- |
|
4 |
BAYER TRADING PTE LTD |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
02/06/1998 |
- |
|
5 |
DYSTAR SINGAPORE PTE LTD |
LIVE COMPANY |
SECRETARY |
02/06/1998 |
30/01/2012 |
|
6 |
HAARMANN & REIMER (SEA)
PTE LTD |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
02/06/1998 |
03/06/2010 |
|
7 |
HENNECKE-MARUKA ASIA PTE LTD |
LIVE COMPANY |
SECRETARY |
02/06/1998 |
03/11/2010 |
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8 |
I.C. EQUIPMENT PTE LTD |
LIVE COMPANY |
DIRECTOR |
05/02/2002 |
22/09/2011 |
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9 |
JLYN INVESTMENT PTE LTD |
STRUCK OFF |
DIRECTOR |
16/05/1990 |
- |
|
10 |
QET MANUFACTURING PTE LTD |
DISSOLVED - CREDITORS'
VOLUNTARY WINDING UP |
DIRECTOR |
05/02/2002 |
- |
|
11 |
SCHMIDT ELECTRONICS (S.E.A.)
PTE LTD |
LIVE COMPANY |
SECRETARY |
01/08/1991 |
26/09/2011 |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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Litigation Search – Writ of Summons
|
Court |
Case No. |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
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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
Clear
COMPLIANCE
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
19/05/2011 |
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Date of A/C Laid At Last AGM |
: |
31/12/2010 |
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||
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|
DEC 2010 |
% Change |
DEC 2009 |
DEC 2008 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
|
|
|
|
|
659,161,246 |
9,988,705.06 |
6,599 |
0 |
|
|
Profit/(Loss) Before Tax |
141,597,818 |
NA |
(6,007,099) |
(5,673,489) |
|
Profit After Tax attributable to
Shareholders |
141,591,094 |
NA |
(6,008,977) |
(5,673,489) |
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Balance Sheet Key Figures |
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Total Assets |
389,725,708 |
517.32 |
63,131,658 |
42,247,485 |
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Current Assets |
121,228,435 |
5,071.76 |
2,344,046 |
11,594,832 |
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Non Current Assets |
268,497,273 |
341.70 |
60,787,612 |
30,652,653 |
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|
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Total Liabilities |
222,883,356 |
400.02 |
44,574,790 |
7,870,974 |
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Current Liabilities |
222,776,167 |
399.99 |
44,556,169 |
7,870,974 |
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Non Current Liabilities |
107,189 |
475.64 |
18,621 |
0 |
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Shareholders' Funds |
166,842,352 |
799.09 |
18,556,868 |
34,376,511 |
|
Share Capital |
38,944,917 |
36.08 |
28,620,185 |
40,050,000 |
|
Total Reserves |
127,897,435 |
NA |
(10,063,317) |
(5,673,489) |
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FINANCIAL RATIOS
|
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DEC
2010 |
DEC
2009 |
DEC
2008 |
|
Growth % |
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|
|
|
9,988,705.06 |
NA |
NA |
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Profitability |
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Profit Margin (%) |
21.48 |
-91,058.90 |
0.00 |
|
Return on Equity (%) |
84.87 |
-32.38 |
-16.50 |
|
Return on Assets (%) |
36.33 |
-9.52 |
-13.43 |
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Leverage |
|
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Total Debt/Equity (Times) |
1.34 |
2.40 |
0.23 |
|
Current Debt/Equity (Times) |
1.34 |
2.40 |
0.23 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
2.34 |
3.40 |
1.23 |
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Asset Management |
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Total Assets Turnover (Times) |
1.69 |
0.00 |
0.00 |
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Fixed Assets Turnover (Times) |
2.46 |
0.00 |
0.00 |
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Liquidity |
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|
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|
Current Ratio (Times) |
0.54 |
0.05 |
1.47 |
FINANCIAL
COMMENTARY
Profitability
The company yielded a rate of
net profit on sales of 21.48 per cent in FY10. The company is now able to book
in SGD - SIN 0.21 of profit for every SGD - SIN of sales.
Liquidity
Current ratio stood at 0.54 times in FY10
(FY09: 0.05 times). This means that the company has SGD - SIN 0.54 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
1.34 times in FY10, compared with 2.40 times in FY09. This means that the
company requires additional external financing of SGD - SIN 1.34 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 84.87 per cent for Subject in the current financial
period. 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 36.33 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 1.69 times in FY10 (FY09: 0.00
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.50.02 |
|
UK Pound |
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.18 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.