MIRA
INFORM REPORT
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Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SULZER CHEMTECH PTE. LTD. |
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Formerly Known As : |
Sulzer chemtech pte
ltd |
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Registered Office : |
10 Benoi Sector |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.10.1987 |
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Com. Reg. No.: |
198703063C |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Manufacture and sepair of separation/mixing equipment (eg filters, separators, mixers) MFY. & dealers in equipment for chemical, petrochemical & refinery operations |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Company Name: |
Registered Number: |
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SULZER CHEMTECH PTE. LTD. |
198703063C |
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Date Incorporated: |
Registered Office: |
Telephone Number: |
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01/10/1987 |
10 BENOI SECTOR |
6515 5500 |
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Age of Company: |
Website: |
Industry Type: |
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25 |
MANUFACTURING |
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Credit
Assessment |
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Risk Dashboard |
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Risk & Rating |
Days Beyond Terms |
Trend: |
No. of Litigation
Counts: |
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Credit Limit: |
Company DTC: |
NA |
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Large |
50 |
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Payment pattern
as per previous month |
No. of
Charges(s): |
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Industry DTC |
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28 |
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Directors |
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Corporate
Structure |
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Number of
Current Directors |
24 |
Holding Company: |
SULZER |
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Number that are
shareholders |
1 |
No. of
Subsidiaries & Associated Companies: |
NA |
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EXECUTIVE SUMMARY
SHAREHOLDER DETAILS
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: |
SULZER ASIA HOLDING PTE. LTD. |
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SHAREHOLDER ID |
: |
201002040G |
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NATIONALITY |
: |
SINGAPORE |
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ADDRESS |
: |
10 BENOI SECTOR SINGAPORE 629845 |
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NO. OF ORD SHARES |
: |
1,000,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
PHILIPP
SUESS |
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ADDRESS |
: |
BIRCHSTRASSE
19, 8442 HETTLINGEN SWITZERLAND |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
31/12/2009 |
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NATIONALITY |
: |
SWISS |
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I/C PASSPORT |
: |
F0310063 |
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NAME |
: |
VENKATA
SUBRAMANI RAMAMURTHY |
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ADDRESS |
: |
2
LEONIE HILL ROAD #13-05 LEONIE CONDOTEL SINGAPORE 239192 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
01/08/2010 |
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NATIONALITY |
: |
INDIAN |
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I/C PASSPORT |
: |
G6446551T |
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NAME |
: |
JOANNA
LIM LAN SIM |
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ADDRESS |
: |
165
TAMPINES STREET 12 #09-305 SINGAPORE 521165 |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
15/12/2009 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S1572261D |
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||
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NAME |
: |
LEONG
SEI KWONG |
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ADDRESS |
: |
220
WESTWOOD AVENUE #03-07 FLORAVALE, THE SINGAPORE 648352 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
18/02/2008 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S2567353J |
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NAME |
: |
WOO
MAY POH |
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ADDRESS |
: |
2 ROCHOR
ROAD #05-590 ROCHOR CENTRE SINGAPORE 180002 |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
06/04/2005 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S7128630D |
KEY PERSONNEL PROFILE
|
LEONG SEI KWONG |
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NRIC Number: |
S2567353J |
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Available Address: |
220 WESTWOOD AVENUE #03-07
FLORAVALE, THE SINGAPORE 648352 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
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SULZER ASIA HOLDING PTE. LTD. |
DIRECTOR |
11/01/2012 |
- |
- |
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2 |
SULZER CHEMTECH PTE. LTD. |
DIRECTOR |
18/02/2008 |
- |
- |
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3 |
SULZER METCO (SINGAPORE) PTE
LTD |
DIRECTOR |
10/12/2007 |
- |
- |
Previous Business
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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
Clear
COMPLIANCE
|
Date of Last AGM |
: |
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|
Date of Last AR |
: |
22/06/2011 |
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Date of A/C Laid At Last AGM |
: |
31/12/2010 |
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 |
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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 |
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Profit and Loss Key Figures |
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|
88,354,076 |
-28.97 |
124,394,097 |
205,264,311 |
164,758,128 |
139,933,832 |
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Profit/(Loss) Before Tax |
12,436,001 |
-1.43 |
12,615,785 |
41,353,857 |
33,359,698 |
20,130,700 |
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Profit After Tax attributable to
Shareholders |
10,453,326 |
-8.07 |
11,371,047 |
35,873,531 |
29,864,792 |
16,807,577 |
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Balance Sheet Key Figures |
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Total Assets |
62,830,246 |
-3.16 |
64,877,457 |
100,183,693 |
91,459,896 |
82,477,443 |
|
Current Assets |
55,735,296 |
-1.84 |
56,778,126 |
91,993,880 |
83,604,601 |
74,457,326 |
|
Non Current Assets |
7,094,950 |
-12.40 |
8,099,331 |
8,189,813 |
7,855,295 |
8,020,117 |
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Total Liabilities |
32,064,729 |
-1.54 |
32,565,266 |
46,242,549 |
45,392,283 |
48,274,622 |
|
Current Liabilities |
32,064,729 |
-1.54 |
32,565,266 |
46,188,589 |
45,338,323 |
47,092,088 |
|
Non Current Liabilities |
0 |
NA |
0 |
53,960 |
53,960 |
1,182,534 |
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|
|
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Shareholders' Funds |
30,765,517 |
-4.79 |
32,312,191 |
53,941,144 |
46,067,613 |
34,202,821 |
|
Share Capital |
1,000,000 |
0.00 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
29,765,517 |
-4.94 |
31,312,191 |
52,941,144 |
45,067,613 |
33,202,821 |
FINANCIAL RATIOS
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DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
DEC
2006 |
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Growth % |
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|
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-28.97 |
-39.40 |
24.59 |
17.74 |
NA |
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Profitability |
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Profit Margin (%) |
11.83 |
9.14 |
17.48 |
18.13 |
12.01 |
|
Return on Equity (%) |
33.98 |
35.19 |
66.50 |
64.83 |
49.14 |
|
Return on Assets (%) |
16.64 |
17.53 |
35.81 |
32.65 |
20.38 |
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Leverage |
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Total Debt/Equity (Times) |
1.04 |
1.01 |
0.86 |
0.99 |
1.41 |
|
Current Debt/Equity (Times) |
1.04 |
1.01 |
0.86 |
0.98 |
1.38 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.03 |
|
Total Asset To Total Equity (Times) |
2.04 |
2.01 |
1.86 |
1.99 |
2.41 |
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Asset Management |
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Total Assets Turnover (Times) |
1.41 |
1.92 |
2.05 |
1.80 |
1.70 |
|
Fixed Assets Turnover (Times) |
12.45 |
15.36 |
25.06 |
20.97 |
17.45 |
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Liquidity |
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|
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Current Ratio (Times) |
1.74 |
1.74 |
1.99 |
1.84 |
1.58 |
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net
profit on sales of 11.83 per cent in FY10 (FY09: 9.14 per cent). The company is
now able to book in SGD - SIN 0.12 of profit for every SGD - SIN of sales in
FY10, as compared with SGD - SIN 0.09 a year ago.
Liquidity
Current ratio stood at 1.74 times in FY10
(FY09: 1.74 times). This means that the company has SGD - SIN 1.74 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 1.04 times in FY10, compared with 1.01 times in FY09. This means that
the company requires additional external financing of SGD - SIN 1.04 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 33.98 per cent for Subject in the current financial
period, as compared to 35.19 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 16.64 per cent (FY09: 17.53 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 1.41 times in FY10 (FY09: 1.92
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.