MIRA INFORM REPORT

 

Report Date :

04.05.2012

 

IDENTIFICATION DETAILS

 

Name :

HAKUTO SINGAPORE PTE. LTD.

 

 

Formerly Known as:

S & T ENTERPRISES (SINGAPORE) PTE. LTD

 

 

Registered Office :

2 KAKI BUKIT AVENUE 1 #04-01, 417938

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

14.12.1996

 

 

Com. Reg. No.:

199608888C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters). Selling of Electrical Components.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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

(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

 

EXECUTIVE SUMMARY

 

Company Name

:

HAKUTO SINGAPORE PTE. LTD.

Registration No

:

199608888C

Date of Registration

:

14/12/1996

Former Name

:

S & T ENTERPRISES (SINGAPORE) PTE. LTD. Eff. date : 01/08/2000 Eff. date : 01/08/2000

Date of Change of Name

:

01/08/2000

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

2 KAKI BUKIT AVENUE 1 #04-01 SINGAPORE 417938

Date of Change of Address

:

17/02/2003

Contact No.

:

6745 8910

Fax No.

:

6741 8200

Website

:

www.hakuto.com.sg

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

SELLING OF ELECTRICAL COMPONENTS.

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

ACTING AS COMMISSION AGENTS.

Issued Ordinary Capital*

:

$5,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 5,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$5,000,000.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 128,221,226.00 (FY2011)

Net Worth

:

SGD - SIN 7,961,392.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

1763 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1797 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

1477 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

1096 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

680 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

4.7% (5 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HAKUTO CO., LTD

SHAREHOLDER ID

:

S96UF0162C

NATIONALITY

:

JAPAN

ADDRESS

:

1-13 SHINJUKU 1-CHOME SHINJUKU-KU TOKYO 160-8910  JAPAN

NO. OF ORD SHARES

:

5,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MASAHIRO SHIMAZU

ADDRESS

:

6 ALEXANDRA VIEW #05-03 METROPOLITAN CONDOMINIUM SINGAPORE 158746

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6071211K

 

NAME

:

CHAN CHOW PHENG

ADDRESS

:

59 TELOK BLANGAH HEIGHTS #04-11 SINGAPORE 100059

POSITION

:

SECRETARY

DATE OF APPT

:

06/06/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1298885J

 

NAME

:

TEO CHIN KEE

ADDRESS

:

21 ELIAS ROAD #02-01 RIS GRANDEUR SINGAPORE 519929

POSITION

:

SECRETARY

DATE OF APPT

:

01/04/2005

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2622115C

 

NAME

:

NORIMICHI HADA

ADDRESS

:

6-6-16 FUJIWARA FUNABASHI SHI CHIBA JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH5505104

 

NAME

:

HIROAKI OMORI

ADDRESS

:

22-12, 1 CHOME, INOKASHIRA MITAKA TOKYO 181-0001 JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/02/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0495548

 

 

KEY PERSONNEL PROFILE

 

Name:

MASAHIRO SHIMAZU

NRIC Number:

G6071211K

Available Address:

6 ALEXANDRA VIEW #05-03 METROPOLITAN CONDOMINIUM  SINGAPORE 158746

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

HAKUTO SINGAPORE PTE. LTD.

DIRECTOR

01/04/2008

-

-

 

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

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

20/06/2011

Date of Last AR

:

30/06/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

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

 

MAR 2011

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

128,221,226

93,501,768

96,996,506

101,832,739

101,900,468

Profit/(Loss) Before Tax

158,741

226,947

208,287

1,926,571

2,303,274

Profit After Tax attributable

 to Shareholders

134,196

216,906

166,629

1,530,713

1,796,555

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

27,518,075

28,497,423

23,225,622

28,829,728

28,148,820

Current Assets

27,291,109

28,166,563

22,783,835

28,280,340

27,314,056

Non Current Assets

226,966

330,860

441,787

549,388

834,764

 

 

 

 

 

 

Total Liabilities

19,556,683

20,018,891

15,214,709

20,100,306

19,845,981

Current Liabilities

19,513,345

19,960,419

15,138,918

20,024,507

19,622,519

Non Current Liabilities

43,338

58,472

75,791

75,799

223,462

 

 

 

 

 

 

Shareholders' Funds

7,961,392

8,478,532

8,010,915

8,729,422

8,302,839

Share Capital

3,983,084

4,314,535

4,183,604

4,455,327

4,697,447

Total Reserves

3,978,308

4,163,997

3,827,311

4,274,095

3,605,392

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2011

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

-3.60

-4.75

-0.07

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.10

0.23

0.17

1.50

1.76

Return on Equity (%)

1.69

2.56

2.08

17.54

21.64

Return on Assets (%)

0.49

0.76

0.72

5.31

6.38

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.46

2.36

1.90

2.30

2.39

Current Debt/Equity (Times)

2.45

2.35

1.89

2.29

2.36

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.01

0.03

Total Asset To Total Equity (Times)

3.46

3.36

2.90

3.30

3.39

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.66

3.28

4.18

3.53

3.62

Fixed Assets Turnover (Times)

564.94

282.60

219.55

185.36

122.07

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.40

1.41

1.50

1.41

1.39

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 4.7% (5 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 0.10 per cent in FY11. The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales.

 

Liquidity

Current ratio stood at 1.40 times in FY11. This means that the company has SGD - SIN 1.40 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 2.46 times in FY11. This means that the company requires additional external financing of SGD - SIN 2.46 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 1.69 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 0.49 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 4.66 times in FY11. 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.53.23

UK Pound

1

Rs.86.14

Euro

1

Rs.69.98

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.