MIRA INFORM REPORT

 

 

Report Date :

08.04.2013

 

IDENTIFICATION DETAILS

 

Name :

PETER CREMER (SINGAPORE) GMBH

 

 

Formerly Known As :

WESTFALISCH-LIPPISCHES LAGERHAUS PETER CREMER GMBH

 

 

Registered Office :

19 Keppel Road #11-07 Jit Poh Building Singapore 089058

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2011

 

 

Date of Incorporation :

24.12.1997

 

 

Com. Reg. No.:

S97FC5457G

 

 

Legal Form :

Foreign Company Registered in Singapore

 

 

Line of Business :

Wholesale of Other Specific Commodities

 

 

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:

PETER CREMER (SINGAPORE) GMBH

S97FC5457G

 

Date Incorporated:

Registered Office:

Telephone Number:

24/12/1997

19 KEPPEL ROAD #11-07 JIT POH BUILDING SINGAPORE 089058

6225 7890

Age of Company:

Website:

Industry Type:

15

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

20

Better than last month; last month the entity took 0 days to pay

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

NA

Holding Company:

NA

Number that are shareholders

NA

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

PETER CREMER (SINGAPORE) GMBH

Registration No

:

S97FC5457G

Date of Registration

:

24/12/1997

Former Name

:

WESTFALISCH-LIPPISCHES LAGERHAUS PETER CREMER GMBH Eff. date : 24/12/1997 Eff. date : 24/12/1997

Date of Change of Name

:

23/11/1999

Type of Company

:

FOREIGN COMPANY REGISTERED IN SINGAPORE

Registered Address

:

19 KEPPEL ROAD #11-07 JIT POH BUILDING SINGAPORE 089058

Date of Change of Address

:

NA

Contact No.

:

6225 7890

Fax No.

:

6227 3060

Website

:

NA

Registered Activities

:

1. WHOLESALE OF OTHER SPECIFIC COMMODITIES NEC

TRADING IN AGRICULTURAL AND OLEOCHEMICAL

2. WHOLESALE OF METALS AND METAL ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES)

TRADING IN STEEL COMMODITIES

Issued Ordinary Capital*

:

NA

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

NA

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

:

NA

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 959,763,667.00 (FY2011)

Net Worth

:

SGD - SIN 22,693,574.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

No Trace

 

 

 

 

 

 

 

 

 

OFFICER DETAILS

 

NAME

:

MICHAEL JESTER

ADDRESS

:

161 HILLCREST ROAD HILLCREST PARK SINGAPORE 289031

POSITION

:

AGENT

DATE OF APPT

:

24/12/1997

NATIONALITY

:

GERMAN

I/C PASSPORT

:

F2149169K

 

NAME

:

CHEAM RUYUEN

ADDRESS

:

68 BEDOK SOUTH AVENUE 3 #15-516 SINGAPORE 460068

POSITION

:

AGENT

DATE OF APPT

:

09/12/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6915073Z

 

 

KEY PERSONNEL PROFILE

 

Name:

MICHAEL JESTER

NRIC Number:

F2149169K

Available Address:

161 HILLCREST ROAD HILLCREST PARK  SINGAPORE 289031

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

PETER CREMER (SINGAPORE) GMBH

AGENT

24/12/1997

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CREMER OLEO (SINGAPORE) GMBH SINGAPORE BRANCH

CEASED REGISTRATION

AGENT

12/05/2005

-

2

INTERNATIONAL PROTEIN TRADING PTE LTD

STRUCK OFF

DIRECTOR

20/12/1993

-

 

 

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

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

:

10/05/2012

Date of Last AR

:

NA

Date of A/C Laid At Last AGM

:

31/12/2011

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

-

NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

 

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

959,763,667

-18.57

1,178,629,246

1,378,562,411

1,573,347,281

1,529,955,664

Profit/(Loss) Before Tax

2,255,978

-89.64

21,772,487

3,319,786

9,163,919

11,834,127

Profit After Tax attributable

 to Shareholders

2,114,588

-89.73

20,583,556

3,103,602

8,606,238

11,023,111

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

141,175,712

-14.62

165,347,696

122,581,589

220,394,695

206,795,789

Current Assets

140,358,574

-14.64

164,432,230

121,061,018

201,642,732

206,136,304

Non Current Assets

817,138

-10.74

915,466

1,520,571

18,751,963

659,485

 

 

 

 

 

 

 

Total Liabilities

118,482,138

-8.57

129,585,203

105,648,624

178,899,462

189,156,475

Current Liabilities

118,482,138

-8.57

129,585,203

105,648,624

178,895,269

111,087,746

Non Current Liabilities

0

NA

0

0

4,193

78,068,729

 

 

 

 

 

 

 

Shareholders' Funds

22,693,574

-36.54

35,762,493

16,932,965

41,495,231

17,639,314

Share Capital

0

NA

0

0

0

0

Total Reserves

22,693,574

-36.54

35,762,493

16,932,965

41,495,231

17,639,314

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-18.57

-14.50

-12.38

2.84

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.22

1.75

0.23

0.55

0.72

Return on Equity (%)

9.32

57.56

18.33

20.74

62.49

Return on Assets (%)

1.50

12.45

2.53

3.90

5.33

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

5.22

3.62

6.24

4.31

10.72

Current Debt/Equity (Times)

5.22

3.62

6.24

4.31

6.30

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

4.43

Total Asset To Total Equity (Times)

6.22

4.62

7.24

5.31

11.72

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

6.80

7.13

11.25

7.14

7.40

Fixed Assets Turnover (Times)

1,174.54

1,287.46

906.61

83.90

2,319.92

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.18

1.27

1.15

1.13

1.86

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.22 per cent in FY11 (FY10: 1.75 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.02 a year ago.

 

 

Liquidity

Current ratio stood at 1.18 times in FY11 (FY10: 1.27 times). This means that the company has SGD - SIN 1.18 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 5.22 times in FY11, compared with 3.62 times in FY10. This means that the company requires additional external financing of SGD - SIN 5.22 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 9.32 per cent for Subject in the current financial period, as compared to 57.56 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 1.50 per cent (FY10: 12.45 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 6.80 times in FY11 (FY10: 7.13 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.54.88

UK Pound

1

Rs.83.54

Euro

1

Rs.70.90

 

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.