MIRA INFORM REPORT

 

 

Report Date :

05.11.2012

 

IDENTIFICATION DETAILS

 

Name :

BASF SOUTH EAST ASIA PTE. LTD.

 

 

Formerly Known As :

BASF SOUTH EAST ASIA REGIONAL HEADQUARTERS PTE. LTD.

 

 

Registered Office :

7 Temasek Boulevard #35-01 Suntec Tower One Singapore 038987

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

28.06.1978

 

 

Com. Reg. No.:

197801536N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

The principal activities of the company is dealing with raw material trading such as from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub

Source : CIA

           

 

Company Name:

Registered Number:

BASF SOUTH EAST ASIA PTE. LTD.

197801536N

 

Date Incorporated:

Registered Office:

Telephone Number:

28/06/1978

7 TEMASEK BOULEVARD #35-01 SUNTEC TOWER ONE SINGAPORE 038987

6337 0330

Age of Company:

Website:

Industry Type:

34

www.asiapacific.basf.com

COMMERCE-WHOLESALE

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

15

 

Payment pattern as per previous month

No. of Charges(s):
0

 

 

 

Industry DTC

 

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

BASF NEDERLAND B.V.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

3

 

 

EXECUTIVE SUMMARY

 

Company Name

:

BASF SOUTH EAST ASIA PTE. LTD.

Registration No

:

197801536N

Date of Registration

:

28/06/1978

Former Name

:

1.BASF SOUTH EAST ASIA PTE LTD Eff. date : 28/06/1978 Eff. date : 28/06/1978

2.BASF SOUTH EAST ASIA REGIONAL HEADQUARTERS PTE. LTD. Eff. date : 23/02/1990 Eff. date : 23/02/1990

3.BASF SOUTH EAST ASIA PTE LTD Eff. date : 22/01/1998 Eff. date : 22/01/1998

Date of Change of Name

:

22/01/1998

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

7 TEMASEK BOULEVARD #35-01 SUNTEC TOWER ONE SINGAPORE 038987

Date of Change of Address

:

04/12/1997

Amalgamated With

:

CIBA (SINGAPORE) PTE. LTD. 197100846H

CIBA (SINGAPORE) PTE. LTD. 197100846H

CIBA (SINGAPORE) PTE. LTD. 197100846H

Amalgamated To Form

:

BASF SOUTH EAST ASIA 197801536N

Amalgamation Eff Date

:

01/02/2010

Contact No.

:

6337 0330

Fax No.

:

6334 0330

Website

:

www.asiapacific.basf.com

Registered Activities

:

ACTIVITIES OF HEAD AND REGIONAL HEAD OFFICES

The principal activities of the company is dealing with raw material trading such as from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals.

Issued Ordinary Capital*

:

$520,300,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 520,300

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$520,300,000.00 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

:

2

No. of Local Associates

:

1

Auditor

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 7,867,905,150.00 (FY2011)

Net Worth

:

SGD - SIN 856,216,900.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

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

186 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

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

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

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

Compounded Annual Growth Rate (CAGR)

:

10.71% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

BASF NEDERLAND B.V.

SHAREHOLDER ID

:

T08UF4122L

NATIONALITY

:

NA

ADDRESS

:

POSTBUS 1019 GREBOUW RIJNPOORT GRONINGENSINGEL NL-6835EA ARNHEM 1 NETHERLANDS

NO. OF ORD SHARES

:

520,300

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SAORI ULRIKE DUBOURG

ADDRESS

:

45/F JARDINE HOUSE, 1 CONNAUGHT PLACE, CENTRAL, HONGKONG

POSITION

:

DIRECTOR

DATE OF APPT

:

05/11/2009

NATIONALITY

:

GERMAN

I/C PASSPORT

:

646750091

 

NAME

:

DEAN TREVOR DRAPER

ADDRESS

:

7 TEMASEK BOULEVARD #35-01 SUNTEC TOWER ONE SINGAPORE 038987

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2011

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

F5658246X

 

NAME

:

YANG NELLIE

ADDRESS

:

38 CORONATION ROAD WEST #03-01 ASTRID MEADOWS SINGAPORE 269257

POSITION

:

SECRETARY

DATE OF APPT

:

31/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0163132B

 

NAME

:

JOANE LEONG LAI FUN

ADDRESS

:

136B HILLVIEW AVENUE #08-06 MERAWOODS SINGAPORE 669607

POSITION

:

DIRECTOR

DATE OF APPT

:

04/08/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1527868D

 

NAME

:

TAN TER YEE

ADDRESS

:

17 HUME AVENUE #04-01 HUME PARK I SINGAPORE 598726

POSITION

:

SECRETARY

DATE OF APPT

:

30/09/2001

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1654262H

 

 

KEY PERSONNEL PROFILE

 

Name:

SAORI ULRIKE DUBOURG

NRIC Number:

646750091

Available Address:

45/F JARDINE HOUSE, 1 CONNAUGHT PLACE, CENTRAL, HONGKONG

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

No Trace

 

 

 

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BASF SOUTH EAST ASIA PTE. LTD.

LIVE COMPANY

DIRECTOR

05/11/2009

01/02/2010

 

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

CIBA (SINGAPORE) PTE. LTD.

100

CIBA INDUSTRIES (SINGAPORE) PTE. LTD.

100

ELLBA EASTERN (PTE) LTD

50

 

 

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

:

27/02/2012

Date of Last AR

:

08/03/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

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

 

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

7,867,905,150

3.90

7,572,573,750

4,710,265,521

5,346,184,275

5,237,015,433

Profit/(Loss) Before Tax

236,024,600

27.54

185,062,000

119,320,906

62,082,900

128,233,335

Profit After Tax attributable

 to Shareholders

208,404,700

16.91

178,258,250

109,134,975

40,918,275

117,387,445

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,443,105,700

0.70

2,426,217,250

1,970,250,082

1,471,646,925

1,879,964,699

Current Assets

1,997,420,950

5.30

1,896,885,500

1,535,165,315

1,103,382,450

1,462,654,901

Non Current Assets

445,684,750

-15.80

529,331,750

435,084,767

368,264,475

417,309,798

 

 

 

 

 

 

 

Total Liabilities

1,586,888,800

2.66

1,545,812,000

1,037,509,829

701,254,575

983,384,691

Current Liabilities

1,561,779,800

2.84

1,518,597,000

1,008,407,169

671,624,100

955,270,727

Non Current Liabilities

25,109,000

-7.74

27,215,000

29,102,660

29,630,475

28,113,964

 

 

 

 

 

 

 

Shareholders' Funds

856,216,900

-2.75

880,405,250

932,740,253

770,392,350

896,580,009

Share Capital

369,102,300

-7.74

400,060,500

427,809,102

414,826,650

441,498,927

Total Reserves

487,114,600

1.41

480,344,750

504,931,151

355,565,700

455,081,082

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

3.90

60.77

-11.89

2.08

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.65

2.35

2.32

0.77

2.24

Return on Equity (%)

24.34

20.25

11.70

5.31

13.09

Return on Assets (%)

8.53

7.35

5.54

2.78

6.24

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.85

1.76

1.11

0.91

1.10

Current Debt/Equity (Times)

1.82

1.72

1.08

0.87

1.07

Long Term Debt To Equity (Times)

0.03

0.03

0.03

0.04

0.03

Total Asset To Total Equity (Times)

2.85

2.76

2.11

1.91

2.10

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.22

3.12

2.39

3.63

2.79

Fixed Assets Turnover (Times)

17.65

14.31

10.83

14.52

12.55

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.28

1.25

1.52

1.64

1.53

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 10.71% (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 2.65 per cent in FY11 (FY10: 2.35 per cent). The company is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.02 a year ago.

 

 

Liquidity

Current ratio stood at 1.28 times in FY11 (FY10: 1.25 times). This means that the company has SGD - SIN 1.28 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 1.85 times in FY11, compared with 1.76 times in FY10. This means that the company requires additional external financing of SGD - SIN 1.85 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 24.34 per cent for Subject in the current financial period, as compared to 20.25 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 8.53 per cent (FY10: 7.35 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 3.22 times in FY11 (FY10: 3.12 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.53.66

UK Pound

1

Rs.86.37

Euro

1

Rs.69.24

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.