MIRA INFORM REPORT

 

 

Report Date :

17.11.2012

 

IDENTIFICATION DETAILS

 

Name :

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

 

 

Formerly Known As :

Charmilles Technologies (South East Asia) Pte. Ltd.

 

 

Registered Office :

130 Joo Seng Road #04-01 Olivine Bldg Singapore 368357

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

20.10.1990

 

 

Com. Reg. No.:

199005164z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of industrial machinery and equipment

Wholesale of agricultural machinery, equipment and supplies

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

---

 

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:

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

199005164Z

 

Date Incorporated:

Registered Office:

Telephone Number:

20/10/1990

130 JOO SENG ROAD #04-01 OLIVINE BLDG SINGAPORE 368357

6281 0341

Age of Company:

Website:

Industry Type:

22

www.agie-charmilles.com

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

6

Worse off than last month;last month the entity took 42 days to pay

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

GEORG FISCHER AG

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

Registration No

:

199005164Z

Date of Registration

:

20/10/1990

Former Name

:

CHARMILLES TECHNOLOGIES (SOUTH EAST ASIA) PTE. LTD. Eff. date : 20/10/1990 Eff. date : 20/10/1990

Date of Change of Name

:

24/04/1997

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

130 JOO SENG ROAD #04-01 OLIVINE BLDG SINGAPORE 368357

Date of Change of Address

:

21/12/1994

Contact No.

:

6281 0341

Fax No.

:

6284 0415

Website

:

www.agie-charmilles.com

Registered Activities

:

1. WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

2. WHOLESALE OF AGRICULTURAL MACHINERY, EQUIPMENT AND SUPPLIES

Issued Ordinary Capital*

:

$600,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 600,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$600,000.00 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

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 35,892,784.00 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 3,983,991.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

GEORG FISCHER AG

SHAREHOLDER ID

:

T09UF0055J

NATIONALITY

:

SWITZERLAND

ADDRESS

:

AMSLER-LAFFON-STRASSE 9, 8201 SCHAFFHAUSEN, SWITZERLAND

NO. OF ORD SHARES

:

600,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MAURO ANGELO GIOVANNI FONTANA

ADDRESS

:

KASTANIENSTRASSE 15, CH-8447 DACHSEN SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F0780128

 

NAME

:

ARMANDO PEREIRA

ADDRESS

:

CHEMIN DES PAMPRES 4, 1213 ONEX/GENEVA SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F3235106

 

NAME

:

TAN CHING CHEK

ADDRESS

:

286 YISHUN AVENUE 6 #12-100 SINGAPORE 760286

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1397070Z

 

NAME

:

LO SWEE OI

ADDRESS

:

135 CASHEW ROAD #10-129 SINGAPORE 670135

POSITION

:

SECRETARY

DATE OF APPT

:

01/09/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1611477D

 

NAME

:

TEO TIAN SENG

ADDRESS

:

31C LORONG SELANGAT SERENE VIEW SINGAPORE 358724

POSITION

:

DIRECTOR

DATE OF APPT

:

17/06/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1643676C

 

 

KEY PERSONNEL PROFILE

 

Name:

MAURO ANGELO GIOVANNI FONTANA

NRIC Number:

F0780128

Available Address:

KASTANIENSTRASSE 15, CH-8447 DACHSEN SWITZERLAND

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AGIE CHARMILLES (SOUTH EAST ASIA) PTE LTD

DIRECTOR

17/08/2010

-

-

 

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.

Transfer

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.

             

 

 

 

 

LITIGATION

 

there have been 1  litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

1

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

2937

 

Transfer

:

-

 

Date of Filing

:

25/08/2005

 

Amount

:

65,700.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LEONG PHOOI WAH T/A MONGKOL ENGINEERING

 

Last Update Date

:

25/11/2011

 

 

COMPLIANCE

 

Date of Last AGM

:

31/05/2012

Date of Last AR

:

20/06/2012

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

35,892,784

8.94

32,946,000

19,180,000

36,426,000

45,240,000

Profit/(Loss) Before Tax

685,858

-43.55

1,215,000

(4,400,000)

304,000

(54,000)

Profit After Tax attributable

 to Shareholders

669,588

-48.73

1,306,000

(4,193,000)

116,000

(300,000)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

19,385,025

32.10

14,675,000

12,299,000

22,562,000

25,426,000

Current Assets

18,887,947

32.58

14,246,000

11,815,000

22,104,000

24,808,000

Non Current Assets

497,078

15.87

429,000

484,000

458,000

618,000

 

 

 

 

 

 

 

Total Liabilities

15,401,034

34.72

11,432,000

10,467,000

16,704,000

19,684,000

Current Liabilities

15,401,034

34.72

11,432,000

10,467,000

16,687,000

19,648,000

Non Current Liabilities

0

NA

0

0

17,000

36,000

 

 

 

 

 

 

 

Shareholders' Funds

3,983,991

22.85

3,243,000

1,832,000

5,858,000

5,742,000

Share Capital

600,000

0.00

600,000

600,000

600,000

600,000

Total Reserves

3,383,991

28.04

2,643,000

1,232,000

5,258,000

5,142,000

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

8.94

71.77

-47.35

-19.48

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.87

3.96

-21.86

0.32

-0.66

Return on Equity (%)

16.81

40.27

-228.88

1.98

-5.22

Return on Assets (%)

3.45

8.90

-34.09

0.51

-1.18

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.87

3.53

5.71

2.85

3.43

Current Debt/Equity (Times)

3.87

3.53

5.71

2.85

3.42

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.01

Total Asset To Total Equity (Times)

4.87

4.53

6.71

3.85

4.43

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.85

2.25

1.56

1.61

1.78

Fixed Assets Turnover (Times)

72.21

76.80

39.63

79.53

73.20

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.23

1.25

1.13

1.32

1.26

 

 

FINANCIAL COMMENTARY

 

 

Profitability

The company yielded a rate of net profit on sales of 1.87 per cent in FY11 (FY10: 3.96 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.02 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.04 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.23 times in FY11 (FY10: 1.25 times). This means that the company has SINGAPORE, DOLLARS 1.23 of current assets for every SINGAPORE, DOLLARS 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 3.87 times in FY11, as compared with 3.53 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 3.87 for every SINGAPORE, DOLLARS 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 16.81 per cent for Subject in the current financial period, as compared to 40.27 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 3.45 per cent (FY10: 8.90 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 1.85 times in FY11 (FY10: 2.25 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.54.99

UK Pound

1

Rs.87.21

Euro

1

Rs.70.22

 

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.