MIRA INFORM REPORT

 

 

Report Date :

24.09.2012

 

IDENTIFICATION DETAILS

 

Name :

SPECTRIS PTE. LTD.

 

 

Formerly Known As :

BTG BONNIER TECHNOLOGY PTE LTD

 

 

Registered Office :

31 Kaki Bukit Road 3 #04-05 Techlink Singapore 417818

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.04.1981

 

 

Com. Reg. No.:

198101779G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture And Repair Of Process Control Equipment And Related Products

 

 

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 :

Good

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

Executive Summary

 

Company Name

:

SPECTRIS PTE. LTD.

Registration No

:

198101779G

Date of Registration

:

22/04/1981

Former Name

:

1.BTG BONNIER TECHNOLOGY PTE LTD Eff. date : 21/08/1987 Eff. date : 21/08/1987

2.BTG SEA PTE LTD Eff. date : 10/08/1989 Eff. date : 10/08/1989

3.SPECTRIS PTE LTD Eff. date : 06/01/1996 Eff. date : 06/01/1996

Date of Change of Name

:

06/01/1996

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

31 KAKI BUKIT ROAD 3 #04-05 TECHLINK SINGAPORE 417818

Date of Change of Address

:

18/02/2009

Amalgamated With

:

SPECTRIS PTE LTD 198101779G

SPECTRIS PTE LTD 198101779G

Amalgamated To Form

:

SPECTRIS 198101779G

Amalgamation Eff Date

:

01/01/2008

Contact No.

:

6496 0336

Fax No.

:

6377 4501

Website

:

NA

Registered Activities

:

MANUFACTURE AND REPAIR OF PROCESS CONTROL EQUIPMENT AND RELATED PRODUCTS

Issued Ordinary Capital*

:

$21,892,382.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 564,321

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$21,892,382.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 68,303,464.70 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 14,537,810.50 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1911 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

SPECTRIS GROUP HOLDINGS LIMITED

SHAREHOLDER ID

:

T08UF1887G

NATIONALITY

:

NA

ADDRESS

:

STATION ROAD, EGHAM, SURREY TW20 9NP U.K.

NO. OF ORD SHARES

:

564,321

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

JAMES CHARLES WEBSTER

ADDRESS

:

6 OAK DRIVE,  HIGHWORTH  WITSHIRE SN6 7BP  UNITED KINGDOM

POSITION

:

DIRECTOR

DATE OF APPT

:

21/07/2006

NATIONALITY

:

BRITISH

I/C PASSPORT

:

093158341

 

NAME

:

KENNETH DOUGAL TURNER SMITH

ADDRESS

:

ROUTE D'ORON 4, 1083 MEZIERES, VAUD SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

15/08/2011

NATIONALITY

:

BRITISH

I/C PASSPORT

:

761232426

 

NAME

:

TAN TENG GUAN

ADDRESS

:

9 GREENLEAF VIEW BAN GUAN PARK SINGAPORE 279249

POSITION

:

DIRECTOR

DATE OF APPT

:

11/12/1995

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1374503Z

 

NAME

:

JULIANA LOH JOO HUI

ADDRESS

:

22 ST. GEORGE'S ROAD #12-182 SINGAPORE 321022

POSITION

:

SECRETARY

DATE OF APPT

:

01/07/1995

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2558149J

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TAN TENG GUAN

NRIC Number:

S1374503Z

Available Address:

9 GREENLEAF VIEW BAN GUAN PARK  SINGAPORE 279249

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BARTLEY CHRISTIAN CHURCH LTD.

DIRECTOR

29/06/2008

-

-

2

SPECTRIS PTE. LTD.

DIRECTOR

11/12/1995

-

-

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BRUEL & KJAER (SOUTH ASIA PACIFIC) PTE LTD

AMALGAMATED

DIRECTOR

06/04/2001

-

2

SPECTRIS ASIA PACIFIC PTE LTD

AMALGAMATED

DIRECTOR

29/10/1996

08/02/2012

 

 

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.

Year

Date of Filing

Amount

Cause Category

M

24558

2010

17/09/2010

SGD 3,500.00

Negligence Related

 

 

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.

 

 

COMPLIANCE

 

Date of Last AGM

:

31/08/2011

Date of Last AR

:

29/09/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

 

 FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

68,303,465

-20.07

85,457,364

94,592,029

76,082,007

77,415,598

Profit/(Loss) Before Tax

14,715,605

56.13

9,425,281

10,918,318

11,232,062

11,395,690

Profit After Tax attributable to Shareholders

14,069,081

85.35

7,590,450

9,100,950

8,963,110

9,325,043

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

45,542,228

-17.68

55,324,414

47,821,612

32,829,176

47,797,576

Current Assets

42,618,503

-17.17

51,452,231

43,474,321

27,496,388

44,633,779

Non Current Assets

2,923,725

-24.49

3,872,182

4,347,291

5,332,788

3,163,797

 

 

 

 

 

 

 

Total Liabilities

31,004,418

5.80

29,304,644

30,185,523

27,568,515

21,064,520

Current Liabilities

30,981,071

5.72

29,304,644

30,185,523

27,568,515

21,064,520

Non Current Liabilities

23,347

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

14,537,811

-44.13

26,019,770

17,636,089

5,260,662

26,733,056

Share Capital

183,182

-11.32

206,570

200,362

213,372

224,967

Total Reserves

14,354,629

-44.39

25,813,199

17,435,727

5,047,290

26,508,089

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-20.07

-9.66

24.33

-1.72

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

20.60

8.88

9.62

11.78

12.05

Return on Equity (%)

96.78

29.17

51.60

170.38

34.88

Return on Assets (%)

30.89

13.72

19.03

27.30

19.51

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.13

1.13

1.71

5.24

0.79

Current Debt/Equity (Times)

2.13

1.13

1.71

5.24

0.79

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

3.13

2.13

2.71

6.24

1.79

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.50

1.54

1.98

2.32

1.62

Fixed Assets Turnover (Times)

23.36

22.07

21.76

14.27

24.47

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.38

1.76

1.44

1.00

2.12

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 20.60 per cent in FY10 (FY09: 8.88 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.21 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.09 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.38 times in FY10 (FY09: 1.76 times). This means that the company has SINGAPORE, DOLLARS 1.38 of current assets for every SINGAPORE, DOLLARS 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 2.13 times in FY10, compared with 1.13 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.13 for every SINGAPORE, DOLLARS 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 96.78 per cent for Subject in the current financial period, as compared to 29.17 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 30.89 per cent (FY09: 13.72 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 1.50 times in FY10 (FY09: 1.54 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.53.91

UK Pound

1

Rs.87.60

Euro

1

Rs.70.01

 

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%)

 

 

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.