MIRA INFORM REPORT

 

 

Report Date :

20.12.2012

 

IDENTIFICATION DETAILS

 

Name :

HISAKA (SINGAPORE) PTE. LTD.

 

 

Formerly Known As :

HISAKA CORPORATION PTE. LTD.

 

 

Registered Office :

63 Sungei Kadut Loop Hisaka Industrial Building Singapore 729484

 

 

Country :

Singapore

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

09.10.2003

 

 

Com. Reg. No.:

200310124K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other business support services activities nec (eg administration of loyalty programmes)

Mfr, dealer in industrial linear motion pdts, marine & offshore pdts, parts

 

 

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:

HISAKA (SINGAPORE) PTE. LTD.

200310124K

 

Date Incorporated:

Registered Office:

Telephone Number:

09/10/2003

63 SUNGEI KADUT LOOP HISAKA INDUSTRIAL BUILDING SINGAPORE 729484

6455 1311

Age of Company:

Website:

Industry Type:

9

www.hisaka.com.sg

MANUFACTURING

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

10

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

HISAKA HOLDINGS LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

HISAKA (SINGAPORE) PTE. LTD.

Registration No

:

200310124K

Date of Registration

:

09/10/2003

Former Name

:

HISAKA CORPORATION PTE. LTD. Eff. date : 09/10/2003 Eff. date : 09/10/2003

Date of Change of Name

:

29/10/2003

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

63 SUNGEI KADUT LOOP HISAKA INDUSTRIAL BUILDING SINGAPORE 729484

Date of Change of Address

:

13/04/2004

Contact No.

:

6455 1311

Fax No.

:

6364 0070

Website

:

www.hisaka.com.sg

Registered Activities

:

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

MFR, DEALER IN INDUSTRIAL LINEAR MOTION PDTS, MARINE & OFFSHORE PDTS, PARTS

2. OTHER INVESTMENT HOLDING COMPANIES

INVESTMENT HOLDING

Issued Ordinary Capital*

:

$3,500,002.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,500,002

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,500,002.00 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

:

RSM CHIO LIM LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 64,466,735.00 (FY2011)

Net Worth

:

SGD - SIN 19,937,877.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

154 POSITION IN SME 500 Companies Ranked by Return on Equities (2006/2007)

72 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2006/2007)

28 POSITION IN SME 500 Companies Ranked by Net Profit (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

6.02% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HISAKA HOLDINGS LTD.

SHAREHOLDER ID

:

200508585R

NATIONALITY

:

SINGAPORE

ADDRESS

:

63 SUNGEI KADUT LOOP HISAKA INDUSTRIAL BUILDING SINGAPORE 729484

NO. OF ORD SHARES

:

3,500,002

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHENG EE CHEW

ADDRESS

:

23 PASIR RIS WAY PASIR RIS BEACH PARK SINGAPORE 518539

POSITION

:

DIRECTOR

DATE OF APPT

:

09/10/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1686852C

 

NAME

:

CHENG EE LIENG

ADDRESS

:

31 ELIZABETH DRIVE HILLVIEW ESTATE SINGAPORE 669726

POSITION

:

DIRECTOR

DATE OF APPT

:

13/01/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6938536B

 

NAME

:

JESSICA ONG BOON CHIN

ADDRESS

:

31 ELIZABETH DRIVE HILLVIEW ESTATE SINGAPORE 669726

POSITION

:

DIRECTOR

DATE OF APPT

:

28/09/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7200774C

 

NAME

:

SOON KUI ENG

ADDRESS

:

288 CHOA CHU KANG AVENUE 3 #02-278 SINGAPORE 680288

POSITION

:

SECRETARY

DATE OF APPT

:

31/08/2009

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7280870C

 

 

KEY PERSONNEL PROFILE

 

Name:

CHENG EE CHEW

NRIC Number:

S1686852C

Available Address:

23 PASIR RIS WAY PASIR RIS BEACH PARK  SINGAPORE 518539

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

HISAKA (SINGAPORE) PTE. LTD.

DIRECTOR

09/10/2003

-

-

2

HISAKA HOLDINGS LTD.

DIRECTOR

23/06/2005

-

-

3

U9 INVESTMENT PTE. LTD.

SHAREHOLDER

-

5938

29.69

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

A&A INDUSTRIAL SUPPLIES (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

16/02/1996

01/08/2001

2

A&A INDUSTRIAL SUPPLIES (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

04/04/2006

3

ANC PRECISION COMPONENTS PTE LTD

STRUCK OFF

DIRECTOR

10/04/1996

07/09/2002

4

ANC PRECISION COMPONENTS PTE LTD

STRUCK OFF

MANAGING DIRECTOR

07/05/1996

07/09/2002

5

ANC PRECISION COMPONENTS PTE LTD

STRUCK OFF

SHAREHOLDER

-

27/06/2005

6

DATAGEMINI PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

18/11/1996

17/05/2000

7

DATAGEMINI PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

18/11/1996

17/05/2000

8

DATAGEMINI PRIVATE LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

14/04/2003

9

H.I.T. (MARKETING) PTE LTD

STRUCK OFF

DIRECTOR

24/07/1999

03/06/2004

10

H.I.T. MANUFACTURING AND ENGINEERING SERVICES

TERMINATION

MANAGER

12/03/1998

25/05/1998

11

H.I.T. MANUFACTURING AND ENGINEERING SERVICES

TERMINATION

OWNER

12/03/1998

25/05/1998

12

HISAKA (SINGAPORE) PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

22/06/2012

13

HISAKA HOLDINGS LTD.

LIVE COMPANY

SHAREHOLDER

-

14/09/2012

14

HISAKA PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

16/06/1992

-

15

HISAKA PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

16

KATA MARINE & TRADING PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

14/09/2011

17

UNI-FLEX AUTOMATION PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

24/04/1997

01/08/2001

18

UNI-FLEX AUTOMATION PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

04/04/2006

 

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 (%)

 

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

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

31/12/2011

Date of Last AR

:

27/01/2012

Date of A/C Laid At Last AGM

:

30/09/2011

 

 

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

 

SEP 2011

% Change

SEP 2010

SEP 2009

SEP 2008

SEP 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

64,466,735

-16.48

77,189,194

29,415,844

47,544,490

51,022,613

Profit/(Loss) Before Tax

5,652,813

-37.14

8,992,880

1,415,196

4,544,165

6,308,270

Profit After Tax attributable

 to Shareholders

4,851,447

-35.10

7,475,061

1,186,931

3,727,712

5,152,270

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

37,430,343

-0.55

37,638,349

27,663,715

29,612,278

36,443,601

Current Assets

35,770,800

-0.09

35,802,849

25,714,814

27,338,448

33,908,063

Non Current Assets

1,659,543

-9.59

1,835,500

1,948,901

2,273,830

2,535,538

 

 

 

 

 

 

 

Total Liabilities

17,492,466

-10.49

19,541,917

14,767,343

13,902,837

21,961,872

Current Liabilities

17,422,466

20.35

14,476,917

9,671,593

8,717,711

20,814,038

Non Current Liabilities

70,000

-98.62

5,065,000

5,095,750

5,185,126

1,147,834

 

 

 

 

 

 

 

Shareholders' Funds

19,937,877

10.18

18,096,432

12,896,372

15,709,441

14,481,729

Share Capital

3,500,002

0.00

3,500,002

3,500,002

3,500,002

3,500,002

Total Reserves

16,437,875

12.62

14,596,430

9,396,370

12,209,439

10,981,727

 

 

FINANCIAL RATIOS 

 

 

Company

 

SEP 2011

SEP 2010

SEP 2009

SEP 2008

SEP 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-16.48

162.41

-38.13

-6.82

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

7.53

9.68

4.04

7.84

10.10

Return on Equity (%)

24.33

41.31

9.20

23.73

35.58

Return on Assets (%)

12.96

19.86

4.29

12.59

14.14

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.88

1.08

1.15

0.88

1.52

Current Debt/Equity (Times)

0.87

0.80

0.75

0.55

1.44

Long Term Debt To Equity (Times)

0.00

0.28

0.40

0.33

0.08

Total Asset To Total Equity (Times)

1.88

2.08

2.15

1.88

2.52

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.72

2.05

1.06

1.61

1.40

Fixed Assets Turnover (Times)

38.85

42.05

15.09

20.91

20.12

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.05

2.47

2.66

3.14

1.63

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 6.02% (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 7.53 per cent in FY11 (FY10: 9.68 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 0.10 a year ago.

 

Liquidity

Current ratio stood at 2.05 times in FY11 (FY10: 2.47 times). This means that the company has SGD - SIN 2.05 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 0.88 times in FY11, compared with 1.08 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.88 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 24.33 per cent for Subject in the current financial period, as compared to 41.31 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 12.96 per cent (FY10: 19.86 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 1.72 times in FY11 (FY10: 2.05 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.52.96

UK Pound

1

Rs.85.45

Euro

1

Rs.69.46

 

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.