MIRA INFORM REPORT

 

 

Report Date :

26.11.2012

 

IDENTIFICATION DETAILS

 

Name :

STAHL ASIA PACIFIC PTE LTD

 

 

Registered Office :

14 Tanjong Penjuru Crescent Singapore 608976

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2011

 

 

Date of Incorporation :

11.05.2006

 

 

Reg. No.:

200606884Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacturing & Sale of High Performance Coatings, Dyes & Process for Leather, Fibres

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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:

STAHL ASIA PACIFIC PTE. LTD.

200606884Z

 

Date Incorporated:

Registered Office:

Telephone Number:

11/05/2006

14 TANJONG PENJURU CRESCENT SINGAPORE 608976

6265 7455

Age of Company:

Website:

Industry Type:

6

www.stahl.com

MANUFACTURING

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

12

Payment pattern as per previous month

No. of Charges(s):
5

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

STAHL HOLDINGS B.V.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

COMPANY NAME

 

STAHL ASIA PACIFIC PTE LTD

 

 

EXECUTIVE SUMMARY

 

Company Name

:

STAHL ASIA PACIFIC PTE. LTD.

Registration No

:

200606884Z

Date of Registration

:

11/05/2006

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

14 TANJONG PENJURU CRESCENT SINGAPORE 608976

Date of Change of Address

:

11/05/2006

Contact No.

:

6265 7455

Fax No.

:

6266 5234

Website

:

www.stahl.com

Registered Activities

:

OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

MANUF & SALE OF HIGH PERFORMANCE COATINGS, DYES & PROCESS FOR LEATHER, FIBRES

Issued Ordinary Capital*

:

$281,683,154.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,814,604

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$281,683,154.00 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

:

J.P. MORGAN EUROPE LIMITED

Turnover

:

SGD - SIN 100,909,310.00 (FY2011)

Net Worth

:

SGD - SIN (63,604,948.00) (FY2011)

No. of Bank Charges

:

5

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

1636 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1005 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

STAHL HOLDINGS B.V.

SHAREHOLDER ID

:

T06UF1630G

NATIONALITY

:

NA

ADDRESS

:

HOOGOORDDREEF 7, 1101 BA  AMSTERDAM ZUIDOOST THE NETHERLANDS

NO. OF ORD SHARES

:

1,814,604

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

HUBERTUS JOZEPHUS JOHANNES VAN BEIJEREN

ADDRESS

:

DIJKSTRAAT 161, 3906 DD VEENENDAAL NETHERLANDS

POSITION

:

DIRECTOR

DATE OF APPT

:

09/02/2007

NATIONALITY

:

DUTCH

I/C PASSPORT

:

BA0234347

 

NAME

:

CHRISTIAAN JOHANNES MARIA DAAMEN

ADDRESS

:

MOLENBEEK 26, 5172 CG KAATSCHEUVEL THE NETHERLANDS

POSITION

:

DIRECTOR

DATE OF APPT

:

09/11/2007

NATIONALITY

:

DUTCH

I/C PASSPORT

:

NF2598150

 

NAME

:

GUIDO BORGART

ADDRESS

:

EMILIONLAAN 56, 6213 GM MAASTRICHT THE NETHERLANDS

POSITION

:

DIRECTOR

DATE OF APPT

:

09/11/2007

NATIONALITY

:

DUTCH

I/C PASSPORT

:

NY5R6LJ54

 

NAME

:

TAN POO CHOO @ JANICE WEE POO CHOO

ADDRESS

:

286C TOH GUAN ROAD #11-22 SINGAPORE 603286

POSITION

:

SECRETARY

DATE OF APPT

:

10/12/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0214089F

 

NAME

:

KOH MUI PIAK DENNIS

ADDRESS

:

10D BRADDELL HILL #03-16 BRADDELL VIEW SINGAPORE 579723

POSITION

:

DIRECTOR

DATE OF APPT

:

09/06/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1503887Z

 

 

KEY PERSONNEL PROFILE

 

Name:

HUBERTUS JOZEPHUS JOHANNES VAN BEIJEREN

NRIC Number:

BA0234347

Available Address:

DIJKSTRAAT 161, 3906 DD VEENENDAAL NETHERLANDS

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

STAHL ASIA PACIFIC PTE. LTD.

DIRECTOR

09/02/2007

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

STAHL ASIA PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

09/11/2007

-

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

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 have been 5 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201103233

 

Date of Registration

:

16/03/2011

 

Chargee

:

J.P. MORGAN EUROPE LIMITED

 

Amount Secured  and Currency

:

NA

 

Address

:

---

 

2)

Charge No.

:

C201002403

 

Date of Registration

:

22/03/2010

 

Chargee

:

J.P. MORGAN EUROPE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201002072

 

Date of Registration

:

08/03/2010

 

Chargee

:

J.P. MORGAN EUROPE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

4)

Charge No.

:

C201002071

 

Date of Registration

:

08/03/2010

 

Chargee

:

J.P. MORGAN EUROPE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

5)

Charge No.

:

C200607622

 

Date of Registration

:

13/11/2006

 

Chargee

:

J.P. MORGAN EUROPE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

 

To date, 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

1

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

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

23645

 

Transfer

:

-

 

Date of Filing

:

23/10/2007

 

Amount

:

10,190.35

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

MUHAMMAD HELMI BIN ISMAIL

 

Last Update Date in DP Info Database

:

23/10/2007

 

 

COMPLIANCE

 

Date of Last AGM

:

15/06/2012

Date of Last AR

:

30/06/2012

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).

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

100,909,310

-11.58

114,127,970

101,780,794

124,930,182

139,569,589

Profit/(Loss) Before Tax

7,545,826

NA

(100,246,590)

(7,355,274)

(257,656,085)

(9,612,958)

Profit After Tax attributable

 to Shareholders

4,343,859

NA

(85,513,650)

(4,652,782)

(255,158,604)

(7,414,300)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

63,891,577

-0.68

64,328,355

169,657,740

180,471,121

440,296,470

Current Assets

42,198,396

6.01

39,807,250

49,458,822

50,562,436

54,209,718

Non Current Assets

21,693,181

-11.53

24,521,105

120,198,918

129,908,685

386,086,752

 

 

 

 

 

 

 

Total Liabilities

127,496,525

-3.61

132,277,162

418,176,050

424,336,649

429,003,394

Current Liabilities

126,586,356

-3.64

131,373,162

119,130,706

102,877,603

89,309,514

Non Current Liabilities

910,169

0.68

904,000

299,045,344

321,459,046

339,693,880

 

 

 

 

 

 

 

Shareholders' Funds

(63,604,948)

NA

(67,948,807)

(248,518,310)

(243,865,528)

11,293,076

Share Capital

281,683,154

0.00

281,683,154

15,600,001

15,600,001

15,600,001

Total Reserves

(345,288,102)

NA

(349,631,961)

(264,118,311)

(259,465,529)

(4,306,925)

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-11.58

12.13

-18.53

-10.49

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.30

-74.93

-4.57

-204.24

-5.31

Return on Equity (%)

-6.83

125.85

1.87

104.63

-65.65

Return on Assets (%)

6.80

-132.93

-2.74

-141.38

-1.68

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-2.00

-1.95

-1.68

-1.74

37.99

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

7.91

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

30.08

Total Asset To Total Equity (Times)

-1.00

-0.95

-0.68

-0.74

38.99

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.58

1.77

0.60

0.69

0.32

Fixed Assets Turnover (Times)

4.65

4.65

0.85

0.96

0.36

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.33

0.30

0.42

0.49

0.61

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 4.30 per cent in FY11. The company is now able to book in SGD - SIN 0.04 of profit for every SGD - SIN of sales.

 

Liquidity

 

Current ratio stood at 0.33 times in FY11 (FY10: 0.30 times). This means that the company has SGD - SIN 0.33 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

We are unable to comment on Subject's leverage.

 

Efficiency Ratio

 

We are unable to comment on Subject's return on equity.

 

Return on assets stood at 6.80 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 1.58 times in FY11 (FY10: 1.77 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.55.34

UK Pound

1

Rs.88.30

Euro

1

Rs.71.37

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.