MIRA INFORM REPORT

 

 

Report Date :

08.05.2012

 

IDENTIFICATION DETAILS

 

Name :

CPM PACIFIC (PRIVATE) LIMITED

 

 

Registered Office :

21 Gul Drive Singapore 629470

 

 

Country :

Singapore

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

01.03.1969

 

 

Com. Reg. No.:

196900113z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacturer of dies, moulds, tools, jigs and fixtures

 

 

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 – March 31st, 2012

 

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

 

 

Company Name:

Registered Number:

CPM/PACIFIC (PRIVATE) LIMITED

196900113Z

 

Date Incorporated:

Registered Office:

Telephone Number:

01/03/1969

21 GUL DRIVE SINGAPORE 629470

6265 0701

Age of Company:

Website:

Industry Type:

43

NA

MANUFACTURING

 

Credit Assessment

 

 

Risk Dashboard

Risk & Rating

Days Beyond Terms

Trend:

No. of Litigation Counts:

Credit Limit:

Company DTC:

NA

Fairly Large

NA

 

The entity is paying current to the creditors

No. of Charges(s):
2

 

Industry DTC

 

28

 

Directors

 

Corporate Structure

Number of Current Directors

12

Holding Company:

CPM ACQUISITION CORP

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

CPM/PACIFIC (PRIVATE) LIMITED

Registration No

:

196900113Z

Date of Registration

:

01/03/1969

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

21 GUL DRIVE SINGAPORE 629470

Date of Change of Address

:

15/12/2003

Contact No.

:

6265 0701

Fax No.

:

6268 6428

Website

:

NA

Registered Activities

:

MANUFACTURE OF DIES, MOULDS, TOOLS, JIGS AND FIXTURES

Issued Ordinary Capital*

:

$1,200,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 12,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,200,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,

Turnover

:

SGD - SIN 20,838,852.00 (FY2011)

Net Worth

:

SGD - SIN 12,524,101.00 (FY2011)

No. of Bank Charges

:

2

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

7.53% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

CPM ACQUISITION CORP

SHAREHOLDER ID

:

S69UF0073H

NATIONALITY

:

UNITED STATES

ADDRESS

:

61 WIITON RD,WESTPORT, CONNECTION 06880 USA

NO. OF ORD SHARES

:

12,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TED WAITMAN

ADDRESS

:

1001 GATEWAY BOULEVARD WAVERLY IOWA USA

POSITION

:

DIRECTOR

DATE OF APPT

:

31/03/1998

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

026128553

 

NAME

:

CHAN KHENG HONG

ADDRESS

:

2 LAKEPOINT DRIVE #04-06 LAKEPOINT CONDOMINIUM SINGAPORE 648923

POSITION

:

DIRECTOR

DATE OF APPT

:

15/05/2001

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1262569C

 

NAME

:

KHUNG CHAI HUA

ADDRESS

:

458 CHOA CHU KANG AVENUE 4 #16-203 SINGAPORE 680458

POSITION

:

SECRETARY

DIRECTOR

DATE OF APPT

:

16/03/2011

24/10/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1321333Z

 

 

KEY PERSONNEL PROFILE

 

Name:

TED WAITMAN

NRIC Number:

026128553

Available Address:

1001 GATEWAY BOULEVARD WAVERLY IOWA USA

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CPM/PACIFIC (PRIVATE) LIMITED

DIRECTOR

31/03/1998

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

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

No Trace

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200404750

 

Date of Registration

:

27/09/2004

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C200404749

 

Date of Registration

:

27/09/2004

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

16/03/2012

Date of Last AR

:

16/03/2012

Date of A/C Laid At Last AGM

:

30/09/2011
 

 

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

 

 

SEP 2011

% Change

SEP 2010

SEP 2009

SEP 2008

SEP 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

20,838,852

9.35

19,057,218

16,077,160

17,671,880

15,588,876

Profit/(Loss) Before Tax

2,968,079

74.30

1,702,826

3,151,410

4,106,628

2,378,831

Profit After Tax attributable

 to Shareholders

2,740,179

71.31

1,599,542

2,861,761

3,713,132

1,910,414

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

20,611,700

28.51

16,038,603

17,783,656

16,041,207

11,676,346

Current Assets

18,169,458

35.61

13,397,851

14,821,101

13,558,605

9,599,931

Non Current Assets

2,442,242

-7.52

2,640,752

2,962,555

2,482,602

2,076,415

 

 

 

 

 

 

 

Total Liabilities

8,087,599

29.30

6,254,681

3,436,349

4,580,451

3,983,262

Current Liabilities

7,889,599

30.91

6,026,681

3,227,349

4,472,451

3,917,157

Non Current Liabilities

198,000

-13.16

228,000

209,000

108,000

66,105

 

 

 

 

 

 

 

Shareholders' Funds

12,524,101

28.01

9,783,922

14,347,307

11,460,756

7,693,084

Share Capital

1,200,000

0.00

1,200,000

1,200,000

1,200,000

1,200,000

Total Reserves

11,324,101

31.92

8,583,922

13,147,307

10,260,756

6,493,084

 

 

FINANCIAL RATIOS 

 

 

Company

 

SEP 2011

SEP 2010

SEP 2009

SEP 2008

SEP 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

9.35

18.54

-9.02

13.36

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

13.15

8.39

17.80

21.01

12.25

Return on Equity (%)

21.88

16.35

19.95

32.40

24.83

Return on Assets (%)

13.29

9.97

16.09

23.15

16.36

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.65

0.64

0.24

0.40

0.52

Current Debt/Equity (Times)

0.63

0.62

0.22

0.39

0.51

Long Term Debt To Equity (Times)

0.02

0.02

0.01

0.01

0.01

Total Asset To Total Equity (Times)

1.65

1.64

1.24

1.40

1.52

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.01

1.19

0.90

1.10

1.34

Fixed Assets Turnover (Times)

8.53

7.22

5.43

7.12

7.51

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.30

2.22

4.59

3.03

2.45

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 7.53% (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 13.15 per cent in FY11 (FY10: 8.39 per cent). The company is now able to book in SGD - SIN 0.13 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.08 a year ago.

 

Liquidity

Current ratio stood at 2.30 times in FY11 (FY10: 2.22 times). This means that the company has SGD - SIN 2.30 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 0.65 times in FY11, compared with 0.64 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.65 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 21.88 per cent for Subject in the current financial period, as compared to 16.35 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 13.29 per cent (FY10: 9.97 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 1.01 times in FY11 (FY10: 1.19 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.53.34

UK Pound

1

Rs.86.09

Euro

1

Rs.69.37

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.