MIRA INFORM REPORT

 

 

Report Date :

18.10.2012

 

IDENTIFICATION DETAILS

 

Name :

INVISTA (SINGAPORE) PTE. LTD.

 

 

 

 

Formerly Known As :

DUPONT TEXTILES AND INTERIORS (SINGAPORE) PTE. LTD.

 

 

 

 

Registered Office :

39 Tuas Crescent Singapore 638726

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

02.02.1989

 

 

Com. Reg. No.:

198900445N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Basic Industrial Acids and Alkalis

 

 

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:

INVISTA (SINGAPORE) PTE. LTD.

198900445N

 

Date Incorporated:

Registered Office:

Telephone Number:

02/02/1989

39 TUAS CRESCENT SINGAPORE 638726

6861 3332

Age of Company:

Website:

Industry Type:

23

www.invista.com

MANUFACTURING

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

3

 

NA

blank

 

The entity is paying current to the creditors

No. of Charges(s):
0

 

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

SINGAPORE INVESTMENTS COMPANY LLC

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

INVISTA (SINGAPORE) PTE. LTD.

Registration No

:

198900445N

Date of Registration

:

02/02/1989

Former Name

:

1.DU PONT SINGAPORE PTE. LTD. Eff. date : 02/02/1989 Eff. date : 02/02/1989

2.DUPONT TEXTILES AND INTERIORS (SINGAPORE) PTE. LTD. Eff. date : 01/01/2003 Eff. date : 01/01/2003

Date of Change of Name

:

01/10/2003

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

39 TUAS CRESCENT SINGAPORE 638726

Date of Change of Address

:

01/10/2003

Contact No.

:

6861 3332

Fax No.

:

68694686

Website

:

www.invista.com

Registered Activities

:

1. MANUFACTURE OF BASIC INDUSTRIAL ACIDS AND ALKALIS

MANUFACTURE AND SALE OF CHEMICALS, CHEMICAL PRODUCTS AND RELATED PRODUCTS

2. WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS NEC

Issued Ordinary Capital*

:

$194,807,535.00 SINGAPORE, DOLLARS, NO. OF SHARE : 194,807,535

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$194,807,535.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 473,772,933.00 (FY2011)

Net Worth

:

SGD - SIN 201,257,423.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

3

S1000 / SME 1000 / FG50 Ranking

:

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

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

1228 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

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

485 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

1.28% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SINGAPORE INVESTMENTS COMPANY LLC

SHAREHOLDER ID

:

T04UF1047F

NATIONALITY

:

UNITED STATES

ADDRESS

:

1209 ORANGE STREET, WILMINGTON DELAWARE 19801 UNITED STATES OF AMERICA

NO. OF ORD SHARES

:

194,807,535

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHUA CHOO CHING

ADDRESS

:

51 HILLVIEW AVENUE #07-03 HILLINGTON GREEN SINGAPORE 669565

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0130531Z

 

NAME

:

SIEW WAI FAN

ADDRESS

:

27 HAZEL PARK TERRACE #14-04 HAZEL PARK CONDOMINIUM SINGAPORE 678949

POSITION

:

DIRECTOR

DATE OF APPT

:

30/04/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1668089C

 

NAME

:

WANG FANG

ADDRESS

:

64 PAVILION RISE SINGAPORE 658059

POSITION

:

DIRECTOR

DATE OF APPT

:

11/05/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2647763H

 

NAME

:

ABDUL JABBAR BIN KARAM DIN

ADDRESS

:

21 SIGLAP HILL FRANKEL ESTATE SINGAPORE 456076

POSITION

:

SECRETARY

DATE OF APPT

:

01/07/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6936625B

 

NAME

:

CHAN HOOI TZE

ADDRESS

:

930 HOUGANG STREET 91 #06-119 SINGAPORE 530930

POSITION

:

SECRETARY

DATE OF APPT

:

05/12/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7516979E

 

 

KEY PERSONNEL PROFILE

 

Name:

CHUA CHOO CHING

NRIC Number:

S0130531Z

Available Address:

51 HILLVIEW AVENUE #07-03 HILLINGTON GREEN  SINGAPORE 669565

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

INVISTA (SINGAPORE) PTE. LTD.

DIRECTOR

01/01/2003

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AMHS & CO PTE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

08/01/1986

-

2

AMHS & CO PTE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SECRETARY

19/12/1981

-

3

AMHS & CO PTE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

4

INVISTA SINGAPORE FIBRES PTE. LTD.

LIVE COMPANY

DIRECTOR

19/08/2003

15/10/2012

5

INVISTA SINGAPORE FIBRES PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

01/11/2007

15/10/2012

6

ISH-TORAY PTE. LTD.

LIVE COMPANY

ALTERNATE DIRECTOR

03/09/2003

-

7

NAUNG INN LAY PTE LTD

STRUCK OFF

DIRECTOR

28/08/1982

17/11/2000

8

NAUNG INN LAY PTE LTD

STRUCK OFF

SECRETARY

27/03/1985

17/11/2000

9

YENTINE PROPERTY PTE LTD

STRUCK OFF

DIRECTOR

08/01/1986

-

10

YENTINE PROPERTY PTE LTD

STRUCK OFF

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

452

-

1997

04/03/1997

 -

Negligence Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

INVISTA SINGAPORE FIBRES PTE. LTD.

80

 

                                                                                                                       

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

 

To date, there have been 3 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

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

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

 

2)

Court

:

Magistrate Court

 

Case No.

:

22119

 

Transfer

:

-

 

Date of Filing

:

20/09/2005

 

Amount

:

38,994.90

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ADEMCO (FAR EAST) PTE LTD

 

3)

Court

:

Supreme Court

 

Case No.

:

211

 

Transfer

:

-

 

Date of Filing

:

17/03/2004

 

Amount

:

SGD 164,800.00

SGD 77,250.00

SGD 287,851.46

 

Cause

:

Contract - Provision of services

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ENSURE ENGINEERING PTE LTD

 

COMPLIANCE

 

Date of Last AGM

:

29/06/2012

Date of Last AR

:

27/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

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

473,772,933

16.56

406,479,158

156,567,945

338,505,601

450,335,818

Profit/(Loss) Before Tax

36,808,539

4.61

35,184,913

9,378,332

34,563,244

150,991,972

Profit After Tax attributable

 to Shareholders

39,407,320

-8.05

42,858,182

10,185,931

35,971,397

158,290,183

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

362,282,695

14.75

315,713,052

265,569,049

224,941,867

142,353,000

Current Assets

236,117,503

32.59

178,077,271

104,367,959

113,620,172

163,480,222

Non Current Assets

126,165,192

-8.33

137,635,781

161,201,090

111,321,695

50,421,817

 

 

 

 

 

 

 

Total Liabilities

161,025,273

14.78

140,287,883

123,807,081

97,358,686

77,425,000

Current Liabilities

140,531,307

16.75

120,369,224

105,663,028

76,819,123

95,661,106

Non Current Liabilities

20,493,966

2.89

19,918,659

18,144,053

20,539,563

20,679,015

 

 

 

 

 

 

 

Shareholders' Funds

201,257,423

14.73

175,425,169

141,761,967

127,583,181

97,561,917

Share Capital

59,740,588

-7.74

64,751,289

69,242,504

67,141,245

71,502,030

Total Reserves

141,516,835

27.87

110,673,880

72,519,463

60,441,936

26,059,887

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

16.56

159.62

-53.75

-24.83

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

8.32

10.54

6.51

10.63

35.15

Return on Equity (%)

19.58

24.43

7.19

28.19

162.25

Return on Assets (%)

10.88

13.58

3.84

15.99

111.20

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.80

0.80

0.87

0.76

0.79

Current Debt/Equity (Times)

0.70

0.69

0.75

0.60

0.98

Long Term Debt To Equity (Times)

0.10

0.11

0.13

0.16

0.21

Total Asset To Total Equity (Times)

1.80

1.80

1.87

1.76

1.46

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.31

1.29

0.59

1.50

3.16

Fixed Assets Turnover (Times)

3.76

2.95

0.97

3.04

8.93

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.68

1.48

0.99

1.48

1.71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 1.28% (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 8.32 per cent in FY11 (FY10: 10.54 per cent). The company is now able to book in SGD - SIN 0.08 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.11 a year ago.

 

Liquidity

Current ratio stood at 1.68 times in FY11 (FY10: 1.48 times). This means that the company has SGD - SIN 1.68 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 0.80 times in FY11, compared with 0.80 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.80 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 19.58 per cent for Subject in the current financial period, as compared to 24.43 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 10.88 per cent (FY10: 13.58 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 1.31 times in FY11 (FY10: 1.29 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.52.75

UK Pound

1

Rs.85.07

Euro

1

Rs.69.04

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.