MIRA INFORM REPORT

 

 

Report Date :

28.11.2012

 

IDENTIFICATION DETAILS

 

Name :

JAN DE NUL (SINGAPORE) PTE. LTD

 

 

Registered Office :

400 Orchard Road #18-06 Orchard Towers Singapore 238875

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.12.1981

 

 

Com. Reg. No.:

198105727g

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Land Reclamation Works

 

 

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 :

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

(31.03.2012)

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:

JAN DE NUL (SINGAPORE) PTE. LTD.

198105727G

 

Date Incorporated:

Registered Office:

Telephone Number:

16/12/1981

400 ORCHARD ROAD #18-06 ORCHARD TOWERS SINGAPORE 238875

6235 2790

Age of Company:

Website:

Industry Type:

31

www.jandenul.com

CONSTRUCTION

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

32

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

DREDGING AND MARITIME MANAGEMENT S.A.

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

1

 

 

EXECUTIVE SUMMARY

 

Company Name

:

JAN DE NUL (SINGAPORE) PTE. LTD.

Registration No

:

198105727G

Date of Registration

:

16/12/1981

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

400 ORCHARD ROAD #18-06 ORCHARD TOWERS SINGAPORE 238875

Date of Change of Address

:

01/04/1997

Contact No.

:

6235 2790

Fax No.

:

6235 2791

Website

:

www.jandenul.com

Registered Activities

:

LAND RECLAMATION WORKS

Issued Ordinary Capital*

:

$60,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 60,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$60,000,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

MAZARS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 208,062,410.00 (FY2011)

Net Worth

:

SGD - SIN 108,886,217.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

1954 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1494 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

519 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

283 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

869 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

34.92% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

DREDGING AND MARITIME MANAGEMENT S.A.

SHAREHOLDER ID

:

T06UF0317E

NATIONALITY

:

NA

ADDRESS

:

34-36, PARC D'ACTIVITES CAPELLEN, L-8308 CAPELLEN GRAND DUCHY OF LUXEMBOURG

NO. OF ORD SHARES

:

59,999,998

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

JAN PIETER JOZEF DE NUL

SHAREHOLDER ID

:

EH955632

NATIONALITY

:

BELGIAN

ADDRESS

:

HUIZEKENSSTRAAT 63 9310 MELDERT-AALST, BELGIUM

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

DIRK DE NUL

SHAREHOLDER ID

:

EJ096693

NATIONALITY

:

BELGIAN

ADDRESS

:

BLAKMEERS 1 1790 AFFLIGEM, BELGIUM

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

OFFICER DETAILS

 

NAME

:

PHILIPPE RAYMOND ANDRE HUTSE

ADDRESS

:

HOLLENAARSTRAAT 24, B-9041 GENT BELGIUM

POSITION

:

DIRECTOR

DATE OF APPT

:

01/11/1998

NATIONALITY

:

BELGIAN

I/C PASSPORT

:

EH955204

 

NAME

:

JAN PIETER JOZEF DE NUL

ADDRESS

:

HUIZEKENSSTRAAT 63 9310 MELDERT-AALST, BELGIUM

POSITION

:

DIRECTOR

DATE OF APPT

:

27/02/1982

NATIONALITY

:

BELGIAN

I/C PASSPORT

:

EH955632

 

NAME

:

DIRK DE NUL

ADDRESS

:

BLAKMEERS 1 1790 AFFLIGEM, BELGIUM

POSITION

:

DIRECTOR

DATE OF APPT

:

11/04/1995

NATIONALITY

:

BELGIAN

I/C PASSPORT

:

EJ096693

 

NAME

:

DE HERT DANNY ODILON MARIA

ADDRESS

:

6 MARIAM CLOSE CHANGI GROVE SINGAPORE 508654

POSITION

:

DIRECTOR

DATE OF APPT

:

10/03/2010

NATIONALITY

:

BELGIAN

I/C PASSPORT

:

F2408750Q

 

NAME

:

MARTIN ERIC HARMS

ADDRESS

:

263 RIVER VALLEY ROAD #15-19 ASPEN HEIGHTS SINGAPORE 238309

POSITION

:

DIRECTOR

DATE OF APPT

:

10/03/2010

NATIONALITY

:

NETHERLANDS

I/C PASSPORT

:

F5616164M

 

NAME

:

DEHAENE ALEXANDER JEROEN

ADDRESS

:

84 KING'S DRIVE KINGSVILLE SINGAPORE 266451

POSITION

:

DIRECTOR

DATE OF APPT

:

10/03/2010

NATIONALITY

:

BELGIAN

I/C PASSPORT

:

G5645027R

 

NAME

:

JOANNA LIM LAN SIM

ADDRESS

:

165 TAMPINES STREET 12 #09-305 SINGAPORE 521165

POSITION

:

SECRETARY

DATE OF APPT

:

29/06/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1572261D

 

NAME

:

TAY TUAN LENG

ADDRESS

:

635 PASIR RIS DRIVE 1 #11-600 SINGAPORE 510635

POSITION

:

SECRETARY

DATE OF APPT

:

22/04/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7432140B

 

 

KEY PERSONNEL PROFILE

 

Name:

JAN PIETER JOZEF DE NUL

NRIC Number:

EH955632

Available Address:

HUIZEKENSSTRAAT 63 9310 MELDERT-AALST, BELGIUM

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

JAN DE NUL (SINGAPORE) PTE. LTD.

DIRECTOR

27/02/1982

1

0.00

 

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 (%)

 

SAND SUPPLY CONTRACTORS

NA (SOLE-PROPRIETOR)

                                                                                                                       


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

:

20/06/2012

Date of Last AR

:

20/07/2012

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

208,062,410

138.80

87,127,254

122,760,269

10,988,007

62,796,375

Profit/(Loss) Before Tax

90,644,745

NA

(57,708,411)

1,257,246

(240,189)

31,489,114

Profit After Tax attributable

 to Shareholders

90,681,612

NA

(57,013,376)

1,399,607

(1,028,181)

28,388,164

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

209,417,383

11.60

187,645,253

251,300,512

84,223,525

129,876,223

Current Assets

65,978,644

86.98

35,286,772

77,923,540

69,189,838

117,893,509

Non Current Assets

143,438,739

-5.85

152,358,481

173,376,972

15,033,687

11,982,714

 

 

 

 

 

 

 

Total Liabilities

100,531,166

-48.15

193,903,372

194,064,657

28,718,434

73,342,951

Current Liabilities

100,200,111

-48.23

193,564,590

85,706,724

28,338,434

72,962,951

Non Current Liabilities

331,055

-2.28

338,782

108,357,933

380,000

380,000

 

 

 

 

 

 

 

Shareholders' Funds

108,886,217

NA

(6,258,119)

57,235,855

55,505,091

56,533,272

Share Capital

55,683,069

73.49

32,095,067

36,193,070

36,000,000

36,000,000

Total Reserves

53,203,148

NA

(38,353,186)

21,042,785

19,505,091

20,533,272

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

138.80

-29.03

1,017.22

-82.50

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

43.58

-65.44

1.14

-9.36

45.21

Return on Equity (%)

83.28

911.03

2.45

-1.85

50.21

Return on Assets (%)

43.30

-30.38

0.56

-1.22

21.86

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.92

-30.98

3.39

0.52

1.30

Current Debt/Equity (Times)

0.92

0.00

1.50

0.51

1.29

Long Term Debt To Equity (Times)

0.00

0.00

1.89

0.01

0.01

Total Asset To Total Equity (Times)

1.92

-29.98

4.39

1.52

2.30

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.99

0.46

0.49

0.13

0.48

Fixed Assets Turnover (Times)

1.45

0.57

0.71

0.73

5.24

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.66

0.18

0.91

2.44

1.62

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 34.92% (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 43.58 per cent in FY11. The company is now able to book in SGD - SIN 0.44 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 0.66 times in FY11 (FY10: 0.18 times). This means that the company has SGD - SIN 0.66 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 0.92 times in FY11. This means that the company requires additional external financing of SGD - SIN 0.92 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 83.28 per cent for Subject in the current financial period, as compared to 911.03 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 43.30 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 0.99 times in FY11 (FY10: 0.46 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.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

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.