MIRA INFORM REPORT

 

 

Report Date :           

03.05.2012

 

IDENTIFICATION DETAILS

 

Name :

ASCUS INTERNATIONAL (S) PTE. LTD

 

 

Registered Office :

10 Anson Road #16-03 International Plaza Singapore 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

15.02.2007

 

 

Com. Reg. No.:

200702780Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of medicinal and pharmaceutical products (western)

 

 

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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

           

Executive Summary

 

Company Name

:

ASCUS INTERNATIONAL (S) PTE. LTD.

Registration No

:

200702780Z

Date of Registration

:

15/02/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

10 ANSON ROAD #16-03 INTERNATIONAL PLAZA SINGAPORE 079903

Date of Change of Address

:

01/12/2011

Contact No.

:

9450 6688

Fax No.

:

6722 0763

Website

:

NA

Registered Activities

:

1. WHOLESALE OF MEDICINAL AND PHARMACEUTICAL PRODUCTS (WESTERN)

2. WHOLESALE OF BASIC INDUSTRIAL CHEMICALS (EXCEPT FERTILISERS)

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

WONG MAN CHUNG & ASSOCIATES

Bankers / Financiers

:

CITIBANK N.A.

Turnover

:

SGD - SIN 16,696,354.00 (FY2010)

Net Worth

:

SGD - SIN 2,952,980.00 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

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

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

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

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

450 POSITION IN SME 500 Companies Ranked by Net Profit (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

32.56% (3 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SATYAN PHARMACEUTICALS PVT. LTD.

SHAREHOLDER ID

:

T07UF2679J

NATIONALITY

:

INDIA

ADDRESS

:

2-ABC, ACME PLAZA, 2ND FLOOR, ABOVE INDUSIND BANK, ANDHERI-KURIA ROAD, MUMBAI-400059, INDIA

NO. OF ORD SHARES

:

698,759

% OF SHAREHOLDING

:

69.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

GOH ANN CHUAN

SHAREHOLDER ID

:

S1621960F

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

34 WARINGIN PARK SIN CHUAN GARDEN SINGAPORE 416345

NO. OF ORD SHARES

:

301,161

% OF SHAREHOLDING

:

30.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

YASH VENILAL SANGHAVI

SHAREHOLDER ID

:

F8520045

NATIONALITY

:

INDIAN

ADDRESS

:

301 ANAND NAVYUG SOC, 3RD FLOOR, N.S. ROAD NO 5, JVPD VILE PARLE (W), MUMBAI 400056, INDIA

NO. OF ORD SHARES

:

80

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SHACHI YESHWANT SANGHAVI

ADDRESS

:

301 ANAND NAVYUG SOC, N.S.ROAD NO.5, J.V.P.D. SCHEME, VILE PARLE (W), MUMBAI 400056 MS

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

F5093096

 

NAME

:

SATYEN YESHWANT SANGHAVI

ADDRESS

:

301 ANAND NAVYUG SOC, N.S.ROAD NO.5, J.V.P.D. SCHEME, VILE PARLE (W), MUMBAI 400056 MS

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2010

NATIONALITY

:

INDIAN

I/C PASSPORT

:

F6113423

 

NAME

:

YASH VENILAL SANGHAVI

ADDRESS

:

301 ANAND NAVYUG SOC, 3RD FLOOR, N.S. ROAD NO 5, JVPD VILE PARLE (W), MUMBAI 400056, INDIA

POSITION

:

OFFICER

DIRECTOR

DATE OF APPT

:

15/02/2007

19/03/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

F8520045

 

NAME

:

GOH ANN CHUAN

ADDRESS

:

34 WARINGIN PARK SIN CHUAN GARDEN SINGAPORE 416345

POSITION

:

DIRECTOR

DATE OF APPT

:

21/04/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1621960F

 

NAME

:

PHANG SOOK FUI

ADDRESS

:

10 ANSON ROAD #16-03 INTERNATIONAL PLAZA SINGAPORE 079903

POSITION

:

SECRETARY

DATE OF APPT

:

15/07/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7771675J

 

KEY PERSONNEL PROFILE

 

Name:

GOH ANN CHUAN

NRIC Number:

S1621960F

Available Address:

34 WARINGIN PARK SIN CHUAN GARDEN  SINGAPORE 416345

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ASCUS INTERNATIONAL (S) PTE. LTD.

DIRECTOR

21/04/2007

301161

30.11

2

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

DIRECTOR

28/01/2010

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

KENKO PHYTO-PHARMASIA PTE LTD

STRUCK OFF

DIRECTOR/SHR

10/09/1998

23/12/2010

2

NATURAL PRINCESS PRIVATE LIMITED

LIVE COMPANY

DIRECTOR/SHR

18/02/2003

10/03/2011

3

THE M.R. LABORATORIES & THERAPY

CANCELLATION

OWNER

29/09/1998

20/03/2001

4

YOUR EMPLOYMENT SERVICE CENTRE

TERMINATION

OWNER

24/03/2001

18/11/2003

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Year

Date of Filing

Amount

Cause Category

M

12569

2000

12/07/2000

SGD 8,200.24

Negligence Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

NA

 

                                                                                                                       

 

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200908595

 

Date of Registration

:

24/12/2009

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2011

Date of Last AR

:

26/07/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

16,696,354

-32.18

24,617,544

19,932,715

7,168,113

Profit/(Loss) Before Tax

322,262

-80.24

1,631,142

700,865

419,733

Profit After Tax attributable to Shareholders

294,797

-78.36

1,362,520

599,560

382,401

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

5,360,059

53.02

3,502,771

4,642,793

1,612,508

Current Assets

5,356,076

53.18

3,496,591

4,641,872

1,610,551

Non Current Assets

3,983

-35.55

6,180

921

1,957

 

 

 

 

 

 

Total Liabilities

2,407,079

277.06

638,387

2,833,761

540,746

Current Liabilities

2,406,563

277.43

637,617

2,833,631

182,338

Non Current Liabilities

516

-32.99

770

130

358,408

 

 

 

 

 

 

Shareholders' Funds

2,952,980

3.09

2,864,384

1,809,032

1,071,761

Share Capital

909,694

-6.49

972,791

943,271

689,360

Total Reserves

2,043,286

8.02

1,891,593

865,761

382,401

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

Year-on-Year Growth

-32.18

23.50

178.07

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

1.77

5.53

3.01

5.33

Return on Equity (%)

9.98

47.57

33.14

35.68

Return on Assets (%)

5.50

38.90

12.91

23.71

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

0.82

0.22

1.57

0.50

Current Debt/Equity (Times)

0.81

0.22

1.57

0.17

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.33

Total Asset To Total Equity (Times)

1.82

1.22

2.57

1.50

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

3.11

7.03

4.29

4.45

Fixed Assets Turnover (Times)

4,191.90

3,983.42

21,642.47

3,662.81

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

2.23

5.48

1.64

8.83

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 32.56% (3 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 1.77 per cent in FY10 (FY09: 5.53 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.06 a year ago.

 

 

Liquidity

Current ratio stood at 2.23 times in FY10 (FY09: 5.48 times). This means that the company has SGD - SIN 2.23 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 0.82 times in FY10, compared with 0.22 times in FY09. This means that the company requires additional external financing of SGD - SIN 0.82 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 9.98 per cent for Subject in the current financial period, as compared to 47.57 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 5.50 per cent (FY09: 38.90 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 3.11 times in FY10 (FY09: 7.03 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.52.93

UK Pound

1

Rs.85.85

Euro

1

Rs.69.94

 

 

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

 

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.