MIRA INFORM REPORT

 

 

Report Date :

28.11.2012

 

IDENTIFICATION DETAILS

 

Name :

PEC LTD.

 

 

Formerly Known as:

PEC PTE. LTD. Eff. date : 25/06/2009 Eff. date : 25/06/2009

 

 

 

 

Registered Office :

21 Shipyard Road Singapore 628144

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

June, 2011

 

 

 

 

Date of Incorporation :

08.01.1982

 

 

 

 

Reg. No.:

198200079M

 

 

 

 

Legal Form :

Public Company Limited By Shares

 

 

 

 

Line of Business :

Process and Industrial Plant Engineering Services

 

 

 

 

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 :

Satisfactory

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

(31.03.2011)

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:

PEC LTD.

198200079M

 

Date Incorporated:

Registered Office:

Telephone Number:

08/01/1982

21 SHIPYARD ROAD SINGAPORE 628144

6268 9788

Age of Company:

Website:

Industry Type:

30

www.peceng.com

CONSTRUCTION

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

13

41

Better than last month;last month the entity took 35 days to pay

No. of Charges(s):
0

Industry DTC

 

32

 

Directors

 

Corporate Structure

Number of Current Directors

7

Holding Company:

NA

Number that are shareholders

NA

No. of Subsidiaries & Associated Companies:

12

 

EXECUTIVE SUMMARY

 

Company Name

:

PEC LTD.

Registration No

:

198200079M

Date of Registration

:

08/01/1982

Former Name

:

1.PLANT ENGINEERING CONSTRUCTION PRIVATE LIMITED Eff. date : 08/01/1982 Eff. date : 08/01/1982

2.PEC PTE. LTD. Eff. date : 25/06/2009 Eff. date : 25/06/2009

Date of Change of Name

:

03/07/2009

Type of Company

:

PUBLIC COMPANY LIMITED BY SHARES

Registered Address

:

21 SHIPYARD ROAD SINGAPORE 628144

Date of Change of Address

:

28/07/1997

Contact No.

:

6268 9788

Fax No.

:

6268 9488

Website

:

www.peceng.com

Registered Activities

:

1. PROCESS AND INDUSTRIAL PLANT ENGINEERING SERVICES

EPC MAINT & TURNKEY FOR OIL&GAS PETROHEMICAL TERMINAL PHARMA ENERGY MARINE

2. GENERAL CONTRACTORS (BUILDING CONSTRUCTION INCLUDING MAJOR UPGRADING WORKS)

TO PROVIDE ALL DISCIPLINES (MECH ETC) FABRICATE ERECT INSTALL

Issued Ordinary Capital*

:

$60,890,680.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 255,157,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$60,890,680.00 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

:

11

No. of Local Associates

:

1

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 406,808,570.00 (FY2011)

Net Worth

:

SGD - SIN 210,941,320.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

13

S1000 / SME 1000 / FG50 Ranking

:

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

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

93 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2010/2011)

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

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

Compounded Annual Growth Rate (CAGR)

:

14.51% (4 years)

 

SHAREHOLDER DETAILS

 

As Subject is registered as a public company limited by shares, its shareholder details are not available. Please refer to documentary for information.

 

 

OFFICER DETAILS

 

NAME

:

CHANG WAN KOK

ADDRESS

:

18A SHELFORD ROAD #03-01 18 SHELFORD SINGAPORE 288407

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0090508I

 

NAME

:

HO YEW MUN

ADDRESS

:

35 EUNOS CRESCENT #03-272 SINGAPORE 400035

POSITION

:

DIRECTOR

DATE OF APPT

:

25/06/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0158094I

 

NAME

:

LOH LEE ENG

ADDRESS

:

46 MARYMOUNT TERRACE SINGAPORE 576378

POSITION

:

SECRETARY

DATE OF APPT

:

25/05/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1289585B

 

NAME

:

EDNA KO POH THIM MS

ADDRESS

:

17 NASSIM ROAD #03-08 NASSIM PARK RESIDENCES SINGAPORE 258391

POSITION

:

DIRECTOR

DATE OF APPT

:

08/02/1984

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1297641J

 

NAME

:

CHIA KIM HUAT

ADDRESS

:

35 SENNETT ROAD EAST COAST HILL SINGAPORE 466814

POSITION

:

DIRECTOR

DATE OF APPT

:

25/06/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1770886D

 

NAME

:

WONG PENG

ADDRESS

:

33 HINDHEDE WALK #04-14 SOUTHAVEN II SINGAPORE 587968

POSITION

:

DIRECTOR

DATE OF APPT

:

23/12/1988

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2539388J

 

NAME

:

FOO FATT KAH

ADDRESS

:

11H MOUNT SINAI LANE #05-40 GLENTREES SINGAPORE 277057

POSITION

:

DIRECTOR

DATE OF APPT

:

25/06/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2652904B

 

 

OFFICER DETAILS

 

NAME

:

ROBERT DOMPELING

ADDRESS

:

17 NASSIM ROAD #03-08 NASSIM PARK RESIDENCES SINGAPORE 258391

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2724696F

 

NAME

:

ABDUL JABBAR BIN KARAM DIN

ADDRESS

:

21 SIGLAP HILL FRANKEL ESTATE SINGAPORE 456076

POSITION

:

SECRETARY

DATE OF APPT

:

25/05/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6936625B

 

 

KEY PERSONNEL PROFILE

 

Name:

EDNA KO POH THIM MS

NRIC Number:

S1297641J

Available Address:

17 NASSIM ROAD #03-08 NASSIM PARK RESIDENCES  SINGAPORE 258391

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ASIA CHEMICAL PLANT CONSULTANT SERVICES PTE LTD

DIRECTOR

01/08/2001

1

0.00

2

AUDEX PTE LTD

DIRECTOR

01/03/1994

-

-

3

EBT ENGINEERING PTE LTD

DIRECTOR

08/12/2009

-

-

4

IT RE-ENGINEERING PTE LTD

DIRECTOR

01/08/1995

-

-

5

MAJOR INSULATION & LINKS (MIL) MARKETING PTE LTD

DIRECTOR

29/10/2010

-

-

6

PEC INTERNATIONAL INVESTMENTS PTE LTD

DIRECTOR

12/02/2000

-

-

7

PEC LTD.

DIRECTOR

08/02/1984

-

-

8

PLANT ELECTRICAL INSTRUMENTATION PTE LTD

DIRECTOR

17/11/1998

-

-

9

PLANT ENGINEERING SERVICES PTE. LTD.

DIRECTOR

01/11/2005

-

-

10

PLANT GENERAL SERVICES PTE. LTD.

DIRECTOR

02/03/2009

-

-

11

TESTING INSPECTION & SOLUTION PTE. LTD.

DIRECTOR

16/09/1995

-

-

12

TIAN SAN COMPANY (PTE.) LIMITED

DIRECTOR

17/06/1983

22026

36.71

13

TIAN SAN COMPANY (PTE.) LIMITED

MANAGING DIRECTOR

01/08/1991

22026

36.71

14

TIAN SAN SHIPPING (PRIVATE) LIMITED

DIRECTOR

01/02/1983

5108

17.02

15

TIAN SAN SHIPPING (PRIVATE) LIMITED

MANAGING DIRECTOR

01/08/1991

5108

17.02

16

TS HARBOUR SERVICES PTE LTD

DIRECTOR

28/01/1986

-

-

17

TS HARBOUR SERVICES PTE LTD

MANAGING DIRECTOR

01/09/1993

-

-

18

WELL BORN ENTERPRISES PTE. LTD.

SHAREHOLDER

-

20000

1.27

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AUDEX PTE LTD

LIVE COMPANY

SHAREHOLDER

-

23/11/2012

 

 

KEY PERSONNEL PROFILE

 

2

DTS PACKAGING & LOGISTICS PTE LTD

STRUCK OFF

DIRECTOR

02/02/1998

-

3

EKAY MARINE SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

15/07/1987

-

4

EKAY MARINE SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

5

IT RE-ENGINEERING PTE LTD

LIVE COMPANY

SHAREHOLDER

-

31/07/2012

6

MAJU MARITIME PTE LTD

LIVE COMPANY

DIRECTOR

15/07/1987

12/10/2012

7

PEC INTERNATIONAL INVESTMENTS PTE LTD

LIVE COMPANY

SHAREHOLDER

-

02/06/2010

8

PEC LTD.

LIVE COMPANY

MANAGING DIRECTOR

01/08/1991

23/11/2012

9

PEC LTD.

LIVE COMPANY

SHAREHOLDER

-

23/11/2012

10

PLANT ELECTRICAL INSTRUMENTATION PTE LTD

LIVE COMPANY

SHAREHOLDER

-

11/10/2012

11

SINGA CONSOLIDATED ENGINEERS & CONSTRUCTORS PTE. LTD.

STRUCK OFF

DIRECTOR

13/11/2003

-

12

SINGA CONSOLIDATED ENGINEERS & CONSTRUCTORS PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

13

SINO-PEC ENGINEERING (SINGAPORE) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

06/06/1995

-

14

SINO-PEC ENGINEERING (SINGAPORE) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

18/10/2012

15

TESTING INSPECTION & SOLUTION PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

11/10/2012

16

TIAN SAN MARINE ENGINEERING SERVICES PTE. LTD.

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

OFFICER

01/02/1983

-

17

TIAN SAN MARINE ENGINEERING SERVICES PTE. LTD.

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

 

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

H

1560

-

2001

13/12/2001

SGD 858,680.77

Credit Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

AUDEX PTE LTD

100

IT RE-ENGINEERING PTE LTD

100

TESTING INSPECTION & SOLUTION PTE. LTD.

100

PEC INTERNATIONAL INVESTMENTS PTE LTD

100

PLANT GENERAL SERVICES PTE. LTD.

100

PEC (MIDDLE EAST) PTE. LTD.

100

ENERZ ENGINEERING PTE. LTD.

84.33

PLANT ENGINEERING SERVICES PTE. LTD.

60

EBT ENGINEERING PTE LTD

55

MAJOR INSULATION & LINKS (MIL) MARKETING PTE LTD

51

CAR-BER PTE. LTD.

51

PLANT ELECTRICAL INSTRUMENTATION PTE LTD

49

           

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 13 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

7

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

0

5

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

 

Case No.

:

23450

 

 

Transfer

:

-

 

 

Date of Filing

:

28/09/2011

 

 

Amount

:

10,000.00

 

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

 

Case Status

:

PENDING

 

 

Plaintiff

:

NG CHIM PENG

 

 

Last Update Date

:

22/03/2012

 

 

 

2)

Court

:

Supreme Court

 

 

Case No.

:

528

 

 

Transfer

:

-

 

 

Date of Filing

:

01/08/2011

 

 

Amount

:

350,000.00

 

 

Cause

:

Tort - Negligence (Industrial accidents)

 

 

Case Status

:

PENDING

 

 

Plaintiff

:

LU HONGZHANG

 

 

Last Update Date

:

22/03/2012

 

 

 

3)

Court

:

District Court

 

 

Case No.

:

96

 

 

Transfer

:

-

 

 

Date of Filing

:

10/01/2011

 

 

Amount

:

250,000.00

 

 

Cause

:

Tort - Negligence (Industrial Accident)

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

MIAO GUIHONG

 

 

Last Update Date

:

22/03/2012

 

 

 

4)

Court

:

District Court

 

 

Case No.

:

807

 

 

Transfer

:

-

 

 

Date of Filing

:

11/03/2008

 

 

Amount

:

250,000.00

 

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

MOHD RAMLI BIN AMIR

 

 

Last Update Date

:

07/03/2011

 

 

 

5)

Court

:

Magistrate Court

 

 

Case No.

:

26544

 

 

Transfer

:

-

 

 

Date of Filing

:

30/11/2007

 

 

Amount

:

45,000.00

 

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

DEVADAS DAVID S/O PERIANAYAKAM SAMUEL

 

 

Last Update Date

:

26/05/2008

 

 

 

6)

Court

:

District Court

 

 

Case No.

:

3825

 

 

Transfer

:

-

 

 

Date of Filing

:

06/10/2006

 

 

Amount

:

60,000.00

 

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

 

Case Status

:

PENDING

 

 

Plaintiff

:

MENNEM M ORIAS

 

 

Last Update Date

:

22/03/2012

 

 

 

7)

Court

:

District Court

 

Case No.

:

1758

 

Transfer

:

-

 

Date of Filing

:

18/05/2005

 

Amount

:

120,000.00

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

WONG SOON YEE

 

Last Update Date

:

26/05/2008

 

8)

Court

:

District Court

 

Case No.

:

1158

 

Transfer

:

-

 

Date of Filing

:

20/03/2003

 

Amount

:

0.00

 

Cause

:

Negligence - Industrial (Injuries)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

NELTON SAMIT

 

Last Update Date

:

26/05/2008

 

9)

Court

:

Magistrate Court

 

Case No.

:

34412

 

Transfer

:

-

 

Date of Filing

:

08/11/2001

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

NG KENG KIEN DOMINIC

 

Last Update Date

:

08/08/2007

 

10)

Court

:

Magistrate Court

 

Case No.

:

33088

 

Transfer

:

-

 

Date of Filing

:

18/12/1998

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

CITYCAB PTE LTD

 

Last Update Date

:

26/05/2008

 

11)

Court

:

Magistrate Court

 

Case No.

:

15643

 

Transfer

:

-

 

Date of Filing

:

26/06/1998

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CHUNG SIANG JOON

 

Last Update Date

:

08/08/2007

 

12)

Court

:

Magistrate Court

 

Case No.

:

19603

 

Transfer

:

-

 

Date of Filing

:

24/10/1996

 

Amount

:

0.00

 

Cause

:

Contracts - General

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

PUNGIYAPILLAI MUTHUKUMAR

 

Last Update Date

:

26/05/2008

 

13)

Court

:

Magistrate Court

 

Case No.

:

4270

 

Transfer

:

-

 

Date of Filing

:

14/03/1996

 

Amount

:

1,438.50

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TYT AIR PRODUCTS PTE LTD

 

Last Update Date

:

08/08/2007

 

 

 

COMPLIANCE

 

Date of Last AGM

:

28/10/2011

Date of Last AR

:

25/11/2011

Date of A/C Laid At Last AGM

:

30/06/2011

 

 

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

Group

 

JUN 2011

% Change

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

406,808,570

-12.95

467,354,042

440,478,726

314,647,746

236,592,283

Profit/(Loss) Before Tax

43,683,264

-23.66

57,220,827

30,185,560

33,564,252

31,037,880

Profit After Tax attributable to Shareholders

34,816,566

-27.77

48,205,645

24,545,959

27,004,675

26,209,326

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

322,186,373

-0.54

323,937,776

214,154,232

188,780,458

127,592,555

Current Assets

244,202,293

-5.37

258,072,218

155,242,054

143,619,170

92,928,998

Non Current Assets

77,984,080

18.40

65,865,558

58,912,178

45,161,288

34,663,557

 

 

 

 

 

 

 

Total Liabilities

111,245,053

-14.27

129,755,299

97,888,074

89,230,989

53,948,832

Current Liabilities

106,668,711

-14.82

125,231,439

94,463,990

86,471,142

51,890,745

Non Current Liabilities

4,576,342

1.16

4,523,860

3,424,084

2,759,847

2,058,087

 

 

 

 

 

 

 

Shareholders' Funds

210,941,320

8.63

194,182,477

116,266,158

99,549,469

73,643,723

Share Capital

58,481,409

9.29

53,511,502

25,000,000

5,000,000

5,000,000

Total Reserves

152,459,911

8.38

140,670,975

91,266,158

94,549,469

68,643,723

 

 

FINANCIAL RATIOS

 

 

Group

 

JUN 2011

JUN 2010

JUN 2009

JUN 2008

JUN 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-12.95

6.10

39.99

32.99

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

8.56

10.31

5.57

8.58

11.08

Return on Equity (%)

16.51

24.82

21.11

27.13

35.59

Return on Assets (%)

10.81

14.88

11.46

14.30

20.54

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.53

0.67

0.84

0.90

0.73

Current Debt/Equity (Times)

0.51

0.64

0.81

0.87

0.70

Long Term Debt To Equity (Times)

0.02

0.02

0.03

0.03

0.03

Total Asset To Total Equity (Times)

1.53

1.67

1.84

1.90

1.73

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.26

1.44

2.06

1.67

1.85

Fixed Assets Turnover (Times)

5.22

7.10

7.48

6.97

6.83

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.29

2.06

1.64

1.66

1.79

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 14.51% (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 group yielded a rate of net profit on sales of 8.56 per cent in FY11 (FY10: 10.31 per cent). The group 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 0.10 a year ago.

 

Liquidity

Current ratio stood at 2.29 times in FY11 (FY10: 2.06 times). This means that the group has SGD - SIN 2.29 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 0.53 times in FY11, as compared with 0.67 times in FY10. This means that the group requires additional external financing of SGD - SIN 0.53 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 16.51 per cent for Subject in the current financial period, as compared to 24.82 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 10.81 per cent (FY10: 14.88 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 1.26 times in FY11 (FY10: 1.44 times). This ratio measures the group'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 :

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%)

 

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