MIRA
INFORM REPORT
|
Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
BENTELER DISTRIBUTION SINGAPORE PTE. LTD. |
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Formerly Known As : |
BENTELER FAR EAST MANUFACTURING PTE LTD |
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Registered Office : |
43 Tuas Avenue 13 Singapore 639001 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.06.1987 |
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Com. Reg. No.: |
198701785W |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Manufacture And Repair Of Steam Generators (Except Central Heating Hot Water Boilers) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
S$197,000 |
|
Status : |
Moderate |
|
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 30, 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 |
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Off-credit |
D |
Executive
Summary
|
: |
BENTELER DISTRIBUTION
SINGAPORE PTE. LTD. |
|
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Registration No |
: |
198701785W |
|
Date of Registration |
: |
24/06/1987 |
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Former Name |
: |
BENTELER FAR EAST MANUFACTURING
PTE LTD Eff. date : 24/06/1987 Eff. date : 24/06/1987 |
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Date of Change of Name |
: |
26/09/2011 |
|
Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
43 TUAS AVENUE 13
SINGAPORE 639001 |
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Date of Change of Address |
: |
20/05/1991 |
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Contact No. |
: |
6861 6388 |
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Fax No. |
: |
6861 2483 |
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Website |
: |
www.bfe.com.sg |
|
Registered Activities |
: |
MANUFACTURE AND REPAIR OF
STEAM GENERATORS NEC (EXCEPT CENTRAL HEATING HOT WATER BOILERS) MANUF OF FABRICATED METAL
PRODUCTS EXCEPT MACHINERY & EQUIPMENT NEC |
|
Issued Ordinary Capital* |
: |
$3,000,000.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 3,000,000 |
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Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$3,000,000.00 SINGAPORE,
DOLLARS |
|
Paid-Up Preference
Capital |
: |
NA |
|
* Number of Shares
includes number of Issued Treasury Shares |
||
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
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Auditor |
: |
KPMG LLP |
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Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN 16,458,000.00
(FY2010) |
|
Net Worth |
: |
SGD - SIN 3,946,000.00
(FY2010) |
|
No. of Bank Charges |
: |
NA |
|
No. of Litigation Suits |
: |
2 |
|
S1000 / SME 500 / FG50 Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
NA |
Credit Rating &
Recommendation
|
Recommended Credit Line |
: |
S$197,000 |
SHAREHOLDER DETAILS
|
: |
BENTELER DISTRIBUTION INTERNATIONAL GMBH |
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SHAREHOLDER ID |
: |
S87UF0360F |
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NATIONALITY |
: |
GERMANY |
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ADDRESS |
: |
HELTORFER STR 1, 40472 DUESSELDORF, GERMANY |
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NO. OF ORD SHARES |
: |
3,000,000 |
|
% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
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||
OFFICER DETAILS
|
: |
ANDERS PAUL
IVARSSON |
|
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ADDRESS |
: |
HERDERSTR. 72,
40237 DUESSELDORF GERMANY |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
04/02/2011 |
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NATIONALITY |
: |
SWEDISH |
|
I/C PASSPORT |
: |
34509140 |
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||
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NAME |
: |
CHRISTIAN
TERBORG |
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ADDRESS |
: |
91 BUKIT DRIVE
#10-24 RAINTREE, THE SINGAPORE 587845 |
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POSITION |
: |
DIRECTOR MANAGING
DIRECTOR |
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DATE OF APPT |
: |
31/12/2011 31/12/2011 |
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NATIONALITY |
: |
GERMAN |
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I/C PASSPORT |
: |
G6173540U |
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||
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NAME |
: |
K GOPALAN |
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ADDRESS |
: |
33 LENTOR VALE
LENTOR VIEW SINGAPORE 788871 |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
31/05/2005 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S0144235Z |
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KEY PERSONNEL PROFILE
|
CHRISTIAN TERBORG |
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|
NRIC Number: |
G6173540U |
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Available Address: |
91 BUKIT DRIVE #10-24
RAINTREE, THE SINGAPORE 587845 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
BENTELER DISTRIBUTION
SINGAPORE PTE. LTD. |
DIRECTOR |
31/12/2011 |
- |
- |
|
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2 |
BENTELER DISTRIBUTION
SINGAPORE PTE. LTD. |
MANAGING DIRECTOR |
31/12/2011 |
- |
- |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive
Date |
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Bankruptcy Record
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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
There have been 2 litigation suits filed against
Subject.
The details are as follows:
|
Court |
: |
District Court |
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Case No. |
: |
2084 |
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Date of Filing |
: |
27/06/2007 |
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Amount |
: |
150,000.00 |
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Cause |
: |
Others /
Miscellaneous |
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Case Status |
: |
CONCLUDED |
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Plaintiff |
: |
LISUS EMIRATES
ALUMINIUM & GLASS CONT. LLC FKA LISUS EMIRATES TRADING LLC |
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2) |
Court |
: |
Magistrate Court |
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Case No. |
: |
60559 |
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Date of Filing |
: |
19/10/1999 |
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Amount |
: |
39,235.00 |
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Cause |
: |
CONTRACTS-GENERAL |
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Case Status |
: |
CONCLUDED |
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Plaintiff |
: |
CHONG CHUN CHEW |
COMPLIANCE RECORDS
|
Date of Last AGM |
: |
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Date of Last AR |
: |
20/04/2011 |
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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 |
DEC 2007 |
DEC 2006 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
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|
|
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|
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|
16,458,000 |
-11.16 |
18,525,000 |
40,172,000 |
40,318,000 |
21,591,000 |
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|
Profit/(Loss) Before Tax |
(607,000) |
NA |
(577,000) |
2,955,000 |
3,102,000 |
2,220,000 |
|
Profit After Tax attributable to
Shareholders |
(445,000) |
NA |
(611,000) |
2,435,000 |
2,569,000 |
1,799,000 |
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Balance Sheet Key Figures |
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Total Assets |
8,727,000 |
-17.89 |
10,628,000 |
11,773,000 |
11,040,000 |
10,436,000 |
|
Current Assets |
7,633,000 |
-19.92 |
9,532,000 |
10,576,000 |
10,119,000 |
9,428,000 |
|
Non Current Assets |
1,094,000 |
-0.18 |
1,096,000 |
1,197,000 |
921,000 |
1,008,000 |
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Total Liabilities |
4,781,000 |
-23.34 |
6,237,000 |
6,771,000 |
6,973,000 |
6,838,000 |
|
Current Liabilities |
4,764,000 |
-22.49 |
6,146,000 |
6,712,000 |
6,898,000 |
6,695,000 |
|
Non Current Liabilities |
17,000 |
-81.32 |
91,000 |
59,000 |
75,000 |
143,000 |
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Shareholders' Funds |
3,946,000 |
-10.13 |
4,391,000 |
5,002,000 |
4,067,000 |
3,598,000 |
|
Share Capital |
3,000,000 |
0.00 |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
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Total Reserves |
946,000 |
-31.99 |
1,391,000 |
2,002,000 |
1,067,000 |
598,000 |
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FINANCIAL RATIOS
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DEC 2010 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
DEC 2006 |
|
Growth % |
|
|
|
|
|
|
-11.16 |
-53.89 |
-0.36 |
86.74 |
NA |
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Profitability |
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Profit Margin (%) |
-2.70 |
-3.30 |
6.06 |
6.37 |
8.33 |
|
Return on Equity (%) |
-11.28 |
-13.91 |
48.68 |
63.17 |
50.00 |
|
Return on Assets (%) |
-5.10 |
-5.75 |
20.68 |
23.27 |
17.24 |
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Leverage |
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Total Debt/Equity (Times) |
1.21 |
1.42 |
1.35 |
1.71 |
1.90 |
|
Current Debt/Equity (Times) |
1.21 |
1.40 |
1.34 |
1.70 |
1.86 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.02 |
0.01 |
0.02 |
0.04 |
|
Total Asset To Total Equity (Times) |
2.21 |
2.42 |
2.35 |
2.71 |
2.90 |
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Asset Management |
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Total Assets Turnover (Times) |
1.89 |
1.74 |
3.41 |
3.65 |
2.07 |
|
Fixed Assets Turnover (Times) |
15.04 |
16.90 |
33.56 |
43.78 |
21.42 |
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Liquidity |
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|
Current Ratio (Times) |
1.60 |
1.55 |
1.58 |
1.47 |
1.41 |
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FINANCIAL
COMMENTARY
Profitability
We are unable to comment on Subject's
profitability.
Liquidity
Current ratio stood at 1.60 times in FY10 (FY09:
1.55 times). This means that the company has SGD - SIN 1.60 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 1.21
times in FY10, as compared with 1.42 times in FY09. This means that the company
requires additional external financing of SGD - SIN 1.21 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 1.89 times in FY10 (FY09: 1.74
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.50.25 |
|
|
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
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 SCs 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.