MIRA INFORM REPORT

 

 

Report Date :

23.11.2012

 

IDENTIFICATION DETAILS

 

Name :

TOGNUM ASIA PTE. LTD.

 

 

Formerly Known As :

MTU ASIA PTE LTD

 

 

Registered Office :

138 Robinson Road #17-00 The Corporate Office Singapore 068906

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

02.05.1974

 

 

 

 

Com. Reg. No.:

197400771H

 

 

 

 

Legal Form :

Limited Private Company

 

 

 

 

Line of Business :

Wholesale of Industrial Machinery and Equipment

Market & Distribute Diesel Engines & Spare Parts, Include Associated Equipment

 

 

 

 

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 :

Regular

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

(31.03.2011)

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:

TOGNUM ASIA PTE. LTD.

197400771H

 

Date Incorporated:

Registered Office:

Telephone Number:

02/05/1974

138 ROBINSON ROAD #17-00 THE CORPORATE OFFICE SINGAPORE 068906

6861 5922

Age of Company:

Website:

Industry Type:

38

www.mtu-online.com.sg

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

6

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

MTU FRIEDRICHSHAFEN GMBH

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

TOGNUM ASIA PTE. LTD.

Registration No

:

197400771H

Date of Registration

:

02/05/1974

Former Name

:

MTU ASIA PTE LTD Eff. date : 02/05/1974 Eff. date : 02/05/1974

Date of Change of Name

:

01/06/2011

Type of Company

:

LIMITED PRIVATE COMPANY

Operating Address

:

1, Benoi Place Singapore 629923, Singapore

Registered Address

:

138 ROBINSON ROAD #17-00 THE CORPORATE OFFICE SINGAPORE 068906

Date of Change of Address

:

01/11/2005

Contact No.

:

6861 5922

Fax No.

:

6862 2871

Website

:

www.mtu-online.com.sg

Registered Activities

:

1. WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

MARKET & DISTRIBUTE DIESEL ENGINES & SPARE PARTS, INCLUDE ASSOCIATED EQUIPMENT

2. MANUFACTURE AND REPAIR OF MARINE ENGINE AND SHIP PARTS

OVERHAUL&REPAIR DIESEL ENGINES;ASSEMBLE&TEST DIESEL GENERATG SETS OF IND ENGS

Issued Ordinary Capital*

:

$3,775,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,775

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,775,000.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 839,118,148.00 (FY2011)

Net Worth

:

SGD - SIN 233,685,174.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

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

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

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

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

Compounded Annual Growth Rate (CAGR)

:

6.22% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

MTU FRIEDRICHSHAFEN GMBH

SHAREHOLDER ID

:

T04UF0060J

NATIONALITY

:

GERMANY

ADDRESS

:

88040 FRIEDRICHSHAFEN 1, GERMANY HRB227

NO. OF ORD SHARES

:

3,775

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

JOACHIM COERS

ADDRESS

:

UFERSTRASSE 41 88149 NONNENHORN GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

18/04/2011

NATIONALITY

:

GERMAN

I/C PASSPORT

:

331606171

 

NAME

:

DIETER ALBERT ROYAL

ADDRESS

:

HUMBOLDTSTRASSE 28, 60318 FRANKFURT AM MAIN, GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2012

NATIONALITY

:

GERMAN

I/C PASSPORT

:

4009768314

 

NAME

:

SCHLIESZEIT DORIS MARLENE

ADDRESS

:

33 BUKIT BATOK EAST AVENUE 6 #06-07 PARK NATURA SINGAPORE 659764

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2011

NATIONALITY

:

GERMAN

I/C PASSPORT

:

G5165384Q

 

NAME

:

CHAN CHOW PHENG

ADDRESS

:

59 TELOK BLANGAH HEIGHTS #04-11 SINGAPORE 100059

POSITION

:

SECRETARY

DATE OF APPT

:

28/02/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1298885J

 

 

KEY PERSONNEL PROFILE

 

Name:

SCHLIESZEIT DORIS MARLENE

NRIC Number:

G5165384Q

Available Address:

33 BUKIT BATOK EAST AVENUE 6 #06-07 PARK NATURA  SINGAPORE 659764

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

TOGNUM ASIA PTE. LTD.

DIRECTOR

01/09/2011

-

-

2

TOGNUM ASIA PTE. LTD.

MANAGING DIRECTOR

01/07/2012

-

-

 

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

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2012

Date of Last AR

:

13/07/2012

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

839,118,148

7.87

777,924,295

715,487,763

793,429,592

659,143,221

Profit/(Loss) Before Tax

84,938,291

20.33

70,588,858

68,878,476

106,672,322

52,159,046

Profit After Tax attributable

 to Shareholders

76,561,586

30.21

58,796,680

55,519,791

95,983,345

42,322,380

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

534,372,881

-7.25

576,172,541

578,948,888

530,200,193

403,621,137

Current Assets

491,737,185

-7.55

531,922,949

529,200,203

488,573,226

376,467,105

Non Current Assets

42,635,696

-3.65

44,249,592

49,748,685

41,626,967

27,154,032

 

 

 

 

 

 

 

Total Liabilities

300,687,707

-16.82

361,506,293

352,548,635

313,190,693

241,607,067

Current Liabilities

300,687,707

-16.82

361,506,293

352,548,635

313,190,693

241,607,067

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

233,685,174

8.86

214,666,247

226,400,253

217,009,499

162,014,070

Share Capital

4,737,980

-2.28

4,848,562

5,467,642

5,613,165

5,592,692

Total Reserves

228,947,194

9.12

209,817,685

220,932,611

211,396,334

156,421,378

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

7.87

8.73

-9.82

20.37

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

9.12

7.56

7.76

12.10

6.42

Return on Equity (%)

32.76

27.39

24.52

44.23

26.12

Return on Assets (%)

14.33

10.20

9.59

18.10

10.49

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.29

1.68

1.56

1.44

1.49

Current Debt/Equity (Times)

1.29

1.68

1.56

1.44

1.49

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.29

2.68

2.56

2.44

2.49

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.57

1.35

1.24

1.50

1.63

Fixed Assets Turnover (Times)

19.68

17.58

14.38

19.06

24.27

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.64

1.47

1.50

1.56

1.56

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 6.22% (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 9.12 per cent in FY11 (FY10: 7.56 per cent). The company is now able to book in SGD - SIN 0.09 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.08 a year ago.

 

Liquidity

Current ratio stood at 1.64 times in FY11 (FY10: 1.47 times). This means that the company has SGD - SIN 1.64 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 1.29 times in FY11, compared with 1.68 times in FY10. This means that the company requires additional external financing of SGD - SIN 1.29 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 32.76 per cent for Subject in the current financial period, as compared to 27.39 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 14.33 per cent (FY10: 10.20 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 1.57 times in FY11 (FY10: 1.35 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.55.16

UK Pound

1

Rs.88.03

Euro

1

Rs.70.86

 

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.
 
 


s