MIRA INFORM REPORT

 

 

Report Date :

18.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BROTHER INTERNATIONAL SINGAPORE PTE LTD

 

 

Registered Office :

152 Beach Road #25-01 Gateway East Singapore 189721

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

03.05.1989

 

 

Com. Reg. No.:

198901767C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Office Machines and Equipment (Including Accessories)

 

 

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

 

Executive Summary

 

Company Name

:

BROTHER INTERNATIONAL SINGAPORE PTE LTD

Registration No

:

198901767C

Date of Registration

:

03/05/1989

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

152 BEACH ROAD #25-01 GATEWAY EAST SINGAPORE 189721

Date of Change of Address

:

20/12/2004

Contact No.

:

6538 0311

Fax No.

:

6538 7003

Website

:

www.brother.com.sg

Registered Activities

:

WHOLESALE OF OFFICE MACHINES AND EQUIPMENT (INCLUDING ACCESSORIES)

Issued Ordinary Capital*

:

$15,100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 15,100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$15,100,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 141,904,149.00

Net Worth

:

SGD - SIN 32,812,226.00

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

890 POSITION IN SINGAPORE 1000 (2008/2009)

816 POSITION IN SINGAPORE 1000 (2007/2008)

746 POSITION IN SINGAPORE 1000 (2006/2007)

818 POSITION IN SINGAPORE 1000 (2005/2006)

879 POSITION IN SINGAPORE 1000 (2004/2005)

998 POSITION IN SINGAPORE 1000 (2001/2002)

723 POSITION IN SINGAPORE 1000 (2000/2001)

624 POSITION IN SINGAPORE 1000 (1999/2000)

573 POSITION IN SINGAPORE 1000 (1998/1999)

Compounded Annual Growth Rate (CAGR)

:

1.68% (5 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

BROTHER INTERNATIONAL CORPORATION

SHAREHOLDER ID

:

S89UF0467A

NATIONALITY

:

JAPAN

ADDRESS

:

15-1 NAESHIRO-CHO MIZUHO-KU NAGOYA 467 JAPAN

NO. OF ORD SHARES

:

15,100,000

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TAKATOSHI KAWAKAMI

ADDRESS

:

26 BAYSHORE ROAD #16-03 THE BAYSHORE SINGAPORE 469972

POSITION

:

DIRECTOR

DATE OF APPT

:

01/10/2006

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F2302329Q

 

NAME

:

TOSHIAKI YAMADA

ADDRESS

:

NO-122, 12TH FLOOR, F BLOCK, RAHEJA, ATLANTIS SECTOR-31, NH-8 GURGAON, HARYANA-122002, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/03/2005

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5810473L

 

NAME

:

TAKEO SHIMAZU

ADDRESS

:

31 JALAN RAMA RAMA #27-03 DE ROYALE SINGAPORE 329111

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/05/2008

01/05/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6056517T

 

NAME

:

TETSUO WATANABE

ADDRESS

:

10-304 SUNNY HILL OMOTEYAMA, 3-15-6 OMOTEYAMA TENPAKU-KU, NAGOYA 468 AICHI PREF., JAPAN

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/09/2002

01/09/2002

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MZ0459649

 

NAME

:

LEE SIEW JEE JENNIFER

ADDRESS

:

2 ENG KONG ROAD SINGAPORE 599081

POSITION

:

SECRETARY

DATE OF APPT

:

11/09/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1336064B

 

 

KEY PERSONNEL PROFILE

 

Name:

TAKEO SHIMAZU

NRIC Number:

G6056517T

Available Address:

31 JALAN RAMA RAMA #27-03 DE ROYALE  SINGAPORE 329111

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BROTHER INTERNATIONAL SINGAPORE PTE LTD

DIRECTOR

01/05/2008

-

-

2

BROTHER INTERNATIONAL SINGAPORE PTE LTD

MANAGING DIRECTOR

01/05/2008

-

-

 

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 are no bank charges registered against Subject by its bankers.           

 

 

COMPLIANCE

 

Date of Last AGM

:

29/05/2009

Date of Last AR

:

04/06/2009

Date of A/C Laid At Last AGM

:

31/03/2009

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2009

% Change

MAR 2008

MAR 2007

MAR 2006

DEC 2004

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

141,904,149

-14.09

165,179,092

156,688,752

207,204,769

130,574,426

Profit/(Loss) Before Tax

2,005,354

-30.70

2,893,933

3,004,010

6,870,191

5,182,183

Profit After Tax attributable to Shareholders

1,603,018

-21.26

2,035,855

2,507,952

5,541,501

4,139,709

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

66,271,261

-11.40

74,797,095

71,531,676

76,446,658

56,784,149

Current Assets

49,829,124

-21.54

63,511,408

58,943,654

64,518,511

45,711,340

Non Current Assets

16,442,137

45.69

11,285,687

12,588,022

11,928,147

11,072,809

 

 

 

 

 

 

 

Total Liabilities

33,459,034

-22.15

42,979,324

39,934,905

45,530,488

30,930,663

Current Liabilities

33,133,774

-22.05

42,505,293

39,406,293

45,165,810

30,616,770

Non Current Liabilities

325,260

-31.38

474,031

528,612

364,678

313,893

 

 

 

 

 

 

 

Shareholders' Funds

32,812,226

3.13

31,817,770

31,596,770

30,916,170

25,853,487

Share Capital

13,741,470

-1.91

14,009,421

14,863,129

15,796,827

16,094,912

Total Reserves

19,070,756

7.09

17,808,349

16,733,641

15,119,343

9,758,575

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2009

MAR 2008

MAR 2007

MAR 2006

DEC 2004

Growth %

 

 

 

 

 

Year-on-Year Growth

-14.09

5.42

-24.38

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.13

1.23

1.60

2.67

3.17

Return on Equity (%)

4.89

6.40

7.94

17.92

16.01

Return on Assets (%)

2.42

2.72

3.51

7.25

7.29

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.02

1.35

1.26

1.47

1.20

Current Debt/Equity (Times)

1.01

1.34

1.25

1.46

1.18

Long Term Debt To Equity (Times)

0.01

0.01

0.02

0.01

0.01

Total Asset To Total Equity (Times)

2.02

2.35

2.26

2.47

2.20

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.14

2.21

2.19

2.71

2.30

Fixed Assets Turnover (Times)

8.63

14.64

12.45

17.37

11.79

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.50

1.49

1.50

1.43

1.49

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 1.68% (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 1.13 per cent in FY09 (FY08: 1.23 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY09, as compared with SGD - SIN 0.01 a year ago.

 

FINANCIAL COMMENTARY

 

Liquidity

 

Current ratio stood at 1.50 times in FY09 (FY08: 1.49 times). This means that the company has SGD - SIN 1.50 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 1.02 times in FY09, compared with 1.35 times in FY08. This means that the company requires additional external financing of SGD - SIN 1.02 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.

 

FINANCIAL COMMENTARY

 

Efficiency Ratio

 

 

 

Return on equity was 4.89 per cent for Subject in the current financial period, as compared to 6.40 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 2.42 per cent (FY08: 2.72 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 2.14 times in FY09 (FY08: 2.21 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.54.38

UK Pound

1

Rs.86.57

Euro

1

Rs.69.30

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

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.