MIRA INFORM REPORT

Report Date :

28.03.2012

IDENTIFICATION DETAILS

Name :	JEOL ASIA PTE. LTD.

Registered Office :	Corporation Road #01-12 Corporation Place Singapore 618494

Country :	Singapore

Financials (as on) :	2011

Date of Incorporation :	28.01.1995

Com. Reg. No.:	199500744W

Legal Form :	Limited Private Company

Line of Business :	Manufacture And Repair Of Engineering And Scientific Instruments

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	S$354,000
Status :	Moderate
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Singapore

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Executive Summary

Company Name	:	JEOL ASIA PTE. LTD.
Registration No	:	199500744W
Date of Registration	:	28/01/1995
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	2 CORPORATION ROAD #01-12 CORPORATION PLACE SINGAPORE 618494
Date of Change of Address	:	21/07/2008
Contact No.	:	6565 9989
Fax No.	:	6565 7552
Website	:	NA
Registered Activities	:	1. MANUFACTURE AND REPAIR OF ENGINEERING AND SCIENTIFIC INSTRUMENTS TRADING OF ELECTRON OPTICS INSTRUMENTS & ANALYTICAL INSTRUMENTS 2. OTHER PERSONAL SERVICE ACTIVITIES NEC SEMI-CONDUCTOR EQUIPMENT AND OTHE MEDICAL EQUIPMENT
Issued Ordinary Capital*	:	$350,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 350,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$350,000.00 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	:	DELOITTE & TOUCHE LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 34,535,522.00 (FY2011)
Net Worth	:	SGD - SIN 7,076,599.00 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	2
S1000 / SME 500 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	4.16% (4 years)

Credit Recommendation

Recommended Credit Line

S$354,000

SHAREHOLDER DETAILS

NAME	:	JEOL LTD.
SHAREHOLDER ID	:	T04UF0212B
NATIONALITY	:	JAPAN
ADDRESS	:	1-2 MUSASHINO 3-CHOME AKISHIMA TOKYO 196-8558 JAPAN
NO. OF ORD SHARES	:	350,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	TAKASHI MATSUO
ADDRESS	:	10 DOVER RISE #11-04 HERITAGE VIEW SINGAPORE 138680
POSITION	:	DIRECTOR
DATE OF APPT	:	29/06/2011
NATIONALITY	:	JAPANESE
I/C PASSPORT	:	G5109571K

NAME	:	CHIHIRO TAKEUCHI
ADDRESS	:	51 WEST COAST WAY #03-02 CARABELLE SINGAPORE 127015
POSITION	:	DIRECTOR MANAGING DIRECTOR
DATE OF APPT	:	31/12/2011 31/12/2011
NATIONALITY	:	JAPANESE
I/C PASSPORT	:	G5216768Q

NAME	:	TOMOYOSHI ISHIWADA
ADDRESS	:	30 DOVER RISE #14-06 DOVER PARKVIEW SINGAPORE 138687
POSITION	:	DIRECTOR
DATE OF APPT	:	13/04/2009
NATIONALITY	:	JAPANESE
I/C PASSPORT	:	G6264095U

NAME	:	LEE SIEW JEE JENNIFER
ADDRESS	:	2 ENG KONG ROAD SINGAPORE 599081
POSITION	:	SECRETARY
DATE OF APPT	:	01/12/2008
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1336064B

NAME	:	SHINICHI WATANABE
ADDRESS	:	4-22-1 AZAMINO, AZAMINO HILLS 404, AOBA, YOKOHAMA CITY, KANAGAWA, JAPAN
POSITION	:	DIRECTOR
DATE OF APPT	:	29/06/2011
NATIONALITY	:	JAPANESE
I/C PASSPORT	:	TH0139818

KEY PERSONNEL PROFILE

Name:	CHIHIRO TAKEUCHI
NRIC Number:	G5216768Q
Available Address:	51 WEST COAST WAY #03-02 CARABELLE SINGAPORE 127015

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	JEOL ASIA PTE. LTD.	DIRECTOR	31/12/2011	-	-
2	JEOL ASIA PTE. LTD.	MANAGING DIRECTOR	31/12/2011	-	-

Previous Business

No.

Name

Status

Position

Appt Date

Last Known Inactive Date

No Trace

Bankruptcy Record

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

Case No.	Year	Date of Filing	Petitioner Name	Amount
No Trace

Note: Please purchase case details to know the latest status.

Litigation Search – Writ of Summons

Court	Case No.	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

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

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.	:	9149
	Date of Filing	:	25/03/2009
	Amount	:	2,227.31
	Cause	:	Others / Miscellaneous
	Case Status	:	PENDING
	Plaintiff	:	POH YEE BIN
	Last Update Date in DP Info Database	:	25/03/2009

2)	Court	:	Magistrate Court
	Case No.	:	51
	Date of Filing	:	02/01/1998
	Amount	:	0.00
	Cause	:	NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)
	Case Status	:	PENDING
	Plaintiff	:	CHU HUNG
	Last Update Date in DP Info Database	:	12/01/1998

COMPLIANCE RECORDS

Date of Last AGM	:	30/09/2011
Date of Last AR	:	15/11/2011
Date of A/C Laid At Last AGM	:	31/03/2011

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	MAR 2011	% Change	MAR 2010	MAR 2009	MAR 2008	MAR 2007
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	34,535,522	-35.31	53,382,140	36,701,905	31,046,867	29,337,777
Profit/(Loss) Before Tax	271,858	-92.62	3,686,015	58,424	326,736	736,111
Profit After Tax attributable to Shareholders	274,533	-91.02	3,055,532	25,383	259,641	568,092

Balance Sheet Key Figures
Total Assets	26,112,724	-12.08	29,699,861	32,144,606	31,622,112	31,783,871
Current Assets	24,342,548	-10.42	27,172,829	31,094,688	30,805,820	31,139,163
Non Current Assets	1,770,176	-29.95	2,527,032	1,049,918	816,292	644,708

Total Liabilities	19,036,125	-15.31	22,477,795	27,978,072	27,305,961	27,727,361
Current Liabilities	19,034,124	-15.14	22,429,204	27,930,916	27,221,115	27,646,944
Non Current Liabilities	2,001	-95.88	48,591	47,156	84,846	80,417

Shareholders' Funds	7,076,599	-2.01	7,222,066	4,166,534	4,316,151	4,056,510
Share Capital	350,000	0.00	350,000	350,000	350,000	350,000
Total Reserves	6,726,599	-2.12	6,872,066	3,816,534	3,966,151	3,706,510

FINANCIAL RATIOS

	Company
	MAR 2011	MAR 2010	MAR 2009	MAR 2008	MAR 2007
Growth %
Year-on-Year Growth	-35.31	45.45	18.21	5.83	NA

Profitability
Profit Margin (%)	0.79	5.72	0.07	0.84	1.94
Return on Equity (%)	3.88	42.31	0.61	6.02	14.00
Return on Assets (%)	1.05	10.29	0.08	0.82	1.79

Leverage
Total Debt/Equity (Times)	2.69	3.11	6.71	6.33	6.84
Current Debt/Equity (Times)	2.69	3.11	6.70	6.31	6.82
Long Term Debt To Equity (Times)	0.00	0.01	0.01	0.02	0.02
Total Asset To Total Equity (Times)	3.69	4.11	7.71	7.33	7.84

Asset Management
Total Assets Turnover (Times)	1.32	1.80	1.14	0.98	0.92
Fixed Assets Turnover (Times)	19.51	21.12	34.96	38.03	45.51

Liquidity
Current Ratio (Times)	1.28	1.21	1.11	1.13	1.13

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 4.16% (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 0.79 per cent in FY11 (FY10: 5.72 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.06 a year ago.

Liquidity

Current ratio stood at 1.28 times in FY11 (FY10: 1.21 times). This means that the company has SGD - SIN 1.28 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 2.69 times in FY11, compared with 3.11 times in FY10. This means that the company requires additional external financing of SGD - SIN 2.69 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 3.88 per cent for Subject in the current financial period, as compared to 42.31 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 1.05 per cent (FY10: 10.29 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 1.32 times in FY11 (FY10: 1.80 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.50.90
UK Pound	1	Rs.81.27
Euro	1	Rs.67.98

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.