MIRA INFORM REPORT

 

 

Report Date :

09.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

 

 

Registered Office :

80 Robinson Road #27-00 Singapore 068898

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

06.02.2007

 

 

Com. Reg. No.:

200702159M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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 :

Good

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

 

Executive Summary

 

Company Name

:

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

Registration No

:

200702159M

Date of Registration

:

06/02/2007

Former Name

:

MITSUI & CO (ASIA PACIFIC) PTE. LTD. Eff. date : 06/02/2007 Eff. date : 06/02/2007

Date of Change of Name

:

22/02/2007

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

80 ROBINSON ROAD #27-00 SINGAPORE 068898

Date of Change of Address

:

25/04/2011

Contact No.

:

6321 3128

Fax No.

:

6226 2957

Website

:

NA

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

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

Issued Ordinary Capital*

:

$225,101,415.00 U.S. DOLLAR ,NO. OF SHARE : 225,101,415

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$225,101,415.00 U.S. DOLLAR

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

:

4

Auditor

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 5,890,626,864.00 (FY2011)

Net Worth

:

SGD - SIN 579,515,296.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

479 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

MITSUI & CO., LTD.

SHAREHOLDER ID

:

T06UF0139C

NATIONALITY

:

NA

ADDRESS

:

2-1 OHTEMACHI 1-CHOME CHIYODA-KU TOKYO 100-0004, JAPAN

NO. OF ORD SHARES

:

225,101,415

% OF SHAREHOLDING

:

100%

CURRENCY

:

U.S. DOLLAR

 

 

 

OFFICER DETAILS

 

NAME

:

YAMAUCHI TAKASHI

ADDRESS

:

5B TANGLIN HILL SINGAPORE 248038

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

28/04/2011

28/04/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5126500P

 

NAME

:

ISAO UEDA

ADDRESS

:

22 ORANGE GROVE ROAD SHANGRI-LA HOTEL SINGAPORE 258350

POSITION

:

DIRECTOR

DATE OF APPT

:

20/09/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5194848W

 

NAME

:

MAKOTO KOTO

ADDRESS

:

2 KIM SENG WALK #08-13 SINGAPORE 239404

POSITION

:

DIRECTOR

DATE OF APPT

:

13/01/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5220933T

 

NAME

:

MASANOBU ITOH

ADDRESS

:

7 ORANGE GROVE ROAD #04-204 TREETOPS EXECUTIVE RESIDENCES SINGAPORE 258355

POSITION

:

DIRECTOR

DATE OF APPT

:

18/05/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6091573W

 

NAME

:

YAMATO KIMPARA

ADDRESS

:

10 MOUNT SOPHIA #09-40 8 @ MOUNT SOPHIA SINGAPORE 228459

POSITION

:

SECRETARY

DATE OF APPT

:

17/07/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6296566K

 

NAME

:

KENJI FUTAMURA

ADDRESS

:

80 MOHAMED SULTAN ROAD #04-23 SINGAPORE 239013

POSITION

:

SECRETARY

DATE OF APPT

:

28/04/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6389950Q

 

NAME

:

HIDEKI MORIMATSU

ADDRESS

:

6 MOUNT SOPHIA #07-05 8 @ MOUNT SOPHIA SINGAPORE 228457

POSITION

:

SECRETARY

DATE OF APPT

:

28/04/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6400263K

 

 

NAME

:

MORI KOJIRO

ADDRESS

:

1 ANDERSON ROAD #07-01 SHANGRI-LA APARTMENTS, THE SINGAPORE 259983

POSITION

:

DIRECTOR

DATE OF APPT

:

14/05/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6419918N

 

 

KEY PERSONNEL PROFILE

 

Name:

YAMAUCHI TAKASHI

NRIC Number:

G5126500P

Available Address:

5B TANGLIN HILL  SINGAPORE 248038

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

DIRECTOR

28/04/2011

-

-

2

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

MANAGING DIRECTOR

28/04/2011

-

-

 

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 (%)

 

MI-MI INVESTMENT SINGAPORE PTE. LTD.

50

MITORIENT HOLDING PTE LTD

49

REGENCY STEEL ASIA PTE. LTD.

27.2

TRI-NET LOGISTICS (ASIA) PTE LTD

20

 

 

 

                                                                                                                       

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

:

28/09/2011

Date of Last AR

:

28/10/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

5,890,626,864

72.95

3,405,872,758

2,884,851,447

10,212,133,545

Profit/(Loss) Before Tax

247,447,568

373.09

52,304,137

(15,962,487)

21,504,617

Profit After Tax attributable to Shareholders

240,701,328

415.76

46,669,125

(18,263,036)

20,255,810

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

2,097,817,696

51.37

1,385,862,235

960,639,716

1,908,311,259

Current Assets

1,525,016,768

69.57

899,358,661

687,706,710

1,766,779,221

Non Current Assets

572,800,928

17.74

486,503,574

272,933,006

141,532,038

 

 

 

 

 

 

Total Liabilities

1,518,302,400

54.24

984,345,580

682,711,853

1,796,709,226

Current Liabilities

1,312,041,424

60.78

816,054,837

624,475,529

1,796,664,890

Non Current Liabilities

206,260,976

22.56

168,290,743

58,236,324

44,336

 

 

 

 

 

 

Shareholders' Funds

579,515,296

44.33

401,516,657

277,927,864

111,602,033

Share Capital

298,934,128

35.92

219,926,488

174,248,861

44,336,370

Total Reserves

280,581,168

54.51

181,590,169

103,679,003

67,265,663

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

Year-on-Year Growth

72.95

18.06

-71.75

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

4.09

1.37

NA

0.20

Return on Equity (%)

41.53

11.62

NA

18.15

Return on Assets (%)

11.47

3.37

NA

1.06

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

2.62

2.45

2.46

16.10

Current Debt/Equity (Times)

2.26

2.03

2.25

16.10

Long Term Debt To Equity (Times)

0.36

0.42

0.21

0.00

Total Asset To Total Equity (Times)

3.62

3.45

3.46

17.10

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

2.81

2.46

3.00

5.35

Fixed Assets Turnover (Times)

10.28

7.00

10.57

72.15

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.16

1.10

1.10

0.98

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 4.09 per cent in FY11. The group is now able to book in SGD - SIN 0.04 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.16 times in FY11. This means that the group has SGD - SIN 1.16 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 2.62 times in FY11. This means that the group requires additional external financing of SGD - SIN 2.62 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 41.53 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 11.47 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 2.81 times in FY11. This ratio measures the group'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.