MIRA INFORM REPORT

 

 

Report Date :

06.10.2012

 

IDENTIFICATION DETAILS

 

Name :

SGS TESTING & CONTROL SERVICES SINGAPORE PTE LTD

 

 

Registered Office :

3 Toh Tuck Link #01-02/03 German Districentre Singapore 596228

 

 

Country :

Singapore

 

 

Financials (as on) :

Dec 2011

 

 

Date of Incorporation :

08.06.1994

 

 

Com. Reg. No.:

199404065N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Employment Agencies (Excluding Maid Agencies)

 

 

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

(31.03.2012)

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:

SGS TESTING & CONTROL SERVICES SINGAPORE PTE LTD

199404065N

 

Date Incorporated:

Registered Office:

Telephone Number:

08/06/1994

3 TOH TUCK LINK #01-02/03 GERMAN DISTRICENTRE SINGAPORE 596228

6379 0111

Age of Company:

Website:

Industry Type:

18

www.sgs.com

SERVICES

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

4

 

23

 

Payment pattern as per previous month

No. of Charges(s):
0

 

Industry DTC

 

138

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

SGS S.A.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

SGS TESTING & CONTROL SERVICES SINGAPORE PTE LTD

Registration No

:

199404065N

Date of Registration

:

08/06/1994

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

3 TOH TUCK LINK #01-02/03 GERMAN DISTRICENTRE SINGAPORE 596228

Date of Change of Address

:

10/04/2012

Contact No.

:

6379 0111

Fax No.

:

6779 0527

Website

:

www.sgs.com

Registered Activities

:

1. EMPLOYMENT AGENCIES (EXCLUDING MAID AGENCIES)

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

INDEPENDENT INSPECTION & TESTING SVCES; CARGO SURVEYING SERVICES

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 62,164,895.00 (FY2011)

Net Worth

:

SGD - SIN 10,108,332.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

4

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

6.89% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SGS S.A.

SHAREHOLDER ID

:

S94UF0002E

NATIONALITY

:

SWITZERLAND

ADDRESS

:

1 RUE DES ALPES CH-1211 GENEVA 1 SWITZERLAND

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CRESENCIANO GUTIEREZ MARAMOT

ADDRESS

:

3 TAMAN NAKHODA #05-06 HOLLAND GEMS SINGAPORE 257744

POSITION

:

DIRECTOR

DATE OF APPT

:

18/10/2004

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

120896949

 

NAME

:

TAN KIOK PIANG MAGGIE

ADDRESS

:

12 BEGONIA LANE SINGAPORE 805828

POSITION

:

SECRETARY

DIRECTOR

DATE OF APPT

:

08/06/1994

20/05/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1301717D

 

NAME

:

TAN MEI LING

ADDRESS

:

28 LORONG HOW SUN HOW SUN GARDEN SINGAPORE 536542

POSITION

:

MANAGER

DATE OF APPT

:

22/11/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1814124H

 

 

 

KEY PERSONNEL PROFILE

 

Name:

CRESENCIANO GUTIEREZ MARAMOT

NRIC Number:

120896949

Available Address:

3 TAMAN NAKHODA #05-06 HOLLAND GEMS  SINGAPORE 257744

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

S.G.S. SINGAPORE (PTE) LTD.

DIRECTOR

18/10/2004

-

-

2

S.G.S. SINGAPORE (PTE) LTD.

MANAGING DIRECTOR

18/10/2004

-

-

3

SGS INTERNATIONAL CERTIFICATION SERVICES SINGAPORE PTE LTD

DIRECTOR

18/10/2004

-

-

4

SGS INTERNATIONAL CERTIFICATION SERVICES SINGAPORE PTE LTD

MANAGING DIRECTOR

18/10/2004

-

-

5

SGS TESTING & CONTROL SERVICES SINGAPORE PTE LTD

DIRECTOR

18/10/2004

-

-

6

SGS TESTING & CONTROL SERVICES SINGAPORE PTE LTD

MANAGING DIRECTOR

18/10/2004

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

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 are no bank charges registered against Subject by its bankers.

 

 

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 4 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

1

High (>$250,000)

0

2

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

681

 

Transfer

:

-

 

Date of Filing

:

05/03/2010

 

Amount

:

185,600.00

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

VIKNESH RAO A/L SOORIA SUNDRA RAMA

 

2)

Court

:

Magistrate Court

 

Case No.

:

4370

 

Transfer

:

-

 

Date of Filing

:

23/02/2007

 

Amount

:

2,512.00

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

WONG CHEE MENG

 

3)

Court

:

Supreme Court

 

Case No.

:

1744

 

Transfer

:

-

 

Date of Filing

:

14/12/1999

 

Amount

:

0.00

 

Cause

:

MISCELLANEOUS

 

Case Status

:

PENDING

 

Plaintiff

:

PROGRESS TANKER PTE LTD

 

4)

Court

:

Supreme Court

 

Case No.

:

779

 

Transfer

:

-

 

Date of Filing

:

25/05/1999

 

Amount

:

0.00

 

Cause

:

CONTRACTS-GENERAL

 

Case Status

:

NA

 

Plaintiff

:

EXIM INDIA OIL CO LTD

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

26/03/2012

Date of Last AR

:

16/04/2012

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

62,164,895

-3.38

64,342,233

61,548,639

54,571,379

47,622,781

Profit/(Loss) Before Tax

3,098,596

-44.07

5,540,291

6,860,555

4,183,644

4,805,989

Profit After Tax attributable

 to Shareholders

3,377,392

-25.88

4,556,807

5,481,005

3,039,046

3,555,327

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

23,892,887

5.37

22,675,594

22,042,817

22,969,484

17,895,529

Current Assets

18,372,609

12.35

16,353,667

15,155,682

15,537,376

12,943,805

Non Current Assets

5,520,278

-12.68

6,321,927

6,887,135

7,432,108

4,951,724

 

 

 

 

 

 

 

Total Liabilities

13,784,555

-17.72

16,753,600

15,322,822

18,963,918

13,648,516

Current Liabilities

13,107,555

-17.20

15,829,600

14,348,822

18,350,918

13,096,516

Non Current Liabilities

677,000

-26.73

924,000

974,000

613,000

552,000

 

 

 

 

 

 

 

Shareholders' Funds

10,108,332

70.69

5,921,994

6,719,995

4,005,566

4,247,013

Share Capital

100,000

0.00

100,000

100,000

100,000

100,000

Total Reserves

10,008,332

71.91

5,821,994

6,619,995

3,905,566

4,147,013

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-3.38

4.54

12.79

14.59

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.43

7.08

8.91

5.57

7.47

Return on Equity (%)

33.41

76.95

81.56

75.87

83.71

Return on Assets (%)

14.14

20.10

24.87

13.23

19.87

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.36

2.83

2.28

4.73

3.21

Current Debt/Equity (Times)

1.30

2.67

2.14

4.58

3.08

Long Term Debt To Equity (Times)

0.07

0.16

0.14

0.15

0.13

Total Asset To Total Equity (Times)

2.36

3.83

3.28

5.73

4.21

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.60

2.84

2.79

2.38

2.66

Fixed Assets Turnover (Times)

11.26

10.18

8.94

7.34

9.62

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.40

1.03

1.06

0.85

0.99

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 6.89% (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 5.43 per cent in FY11 (FY10: 7.08 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.07 a year ago.

 

Liquidity

 

Current ratio stood at 1.40 times in FY11 (FY10: 1.03 times). This means that the company has SGD - SIN 1.40 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

Total debt-to-equity ratio notched 1.36 times in FY11, compared with 2.83 times in FY10. This means that the company requires additional external financing of SGD - SIN 1.36 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 33.41 per cent for Subject in the current financial period, as compared to 76.95 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 14.14 per cent (FY10: 20.10 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 2.60 times in FY11 (FY10: 2.84 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.51.61

UK Pound

1

Rs.83.57

Euro

1

Rs.67.17

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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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