MIRA INFORM REPORT

 

 

Report Date :

15.04.2013

 

IDENTIFICATION DETAILS

 

Name :

SYNGENTA ASIA PACIFIC PTE. LTD.

 

 

Formerly Known as:

SYNGENTA SINGAPORE PTE LTD

 

 

Registered Office :

1 Harbourfront Avenue #03-03 Keppel Bay Tower Singapore 098632

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2011

 

 

Date of Incorporation :

25.10.1997

 

 

Com. Reg. No.:

199707386N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacturer of pesticides and other agro-chemical products (including insecticides, herbicides and disinfectants)

 

 

No. of Employees :

Not available 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular 

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:

SYNGENTA ASIA PACIFIC PTE. LTD.

199707386N

 

Date Incorporated:

Registered Office:

Telephone Number:

25/10/1997

1 HARBOURFRONT AVENUE #03-03 KEPPEL BAY TOWER SINGAPORE 098632

6518 2522

Age of Company:

Website:

Industry Type:

16

WWW.SYNGENTA.COM

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

26

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

27

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

SYNGENTA PARTICIPATIONS AG

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

4

 

EXECUTIVE SUMMARY

 

Company Name

:

SYNGENTA ASIA PACIFIC PTE. LTD.

Registration No

:

199707386N

Date of Registration

:

25/10/1997

Former Name

:

1.NOVARTIS CROP PROTECTION (SINGAPORE) PTE LTD Eff. date : 25/10/1997 Eff. date : 25/10/1997

2.SYNGENTA SINGAPORE PTE LTD Eff. date : 01/02/2001 Eff. date : 01/02/2001

Date of Change of Name

:

22/07/2003

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 HARBOURFRONT AVENUE #03-03 KEPPEL BAY TOWER SINGAPORE 098632

Date of Change of Address

:

11/09/2006

Contact No.

:

6518 2522

Fax No.

:

9648 1918

Website

:

WWW.SYNGENTA.COM

Registered Activities

:

1. MANUFACTURE OF PESTICIDES AND OTHER AGRO-CHEMICAL PRODUCTS (INCLUDING INSECTICIDES, HERBICIDES AND DISINFECTANTS)

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$1,588,023,595.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,588,023,595

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,588,023,595.00 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

:

4

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 3,077,807,157.00 (FY2011)

Net Worth

:

SGD - SIN 2,185,291,427.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

84 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

169 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2003/2004)

159 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2003/2004)

127 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2003/2004)

Compounded Annual Growth Rate (CAGR)

:

17.61% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SYNGENTA PARTICIPATIONS AG

SHAREHOLDER ID

:

T05UF2518D

NATIONALITY

:

SWITZERLAND

ADDRESS

:

SCHWARWALDALEE 215 4058 BASEL, SWITZERLAND

NO. OF ORD SHARES

:

1,588,023,595

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ULRICH STEFAN SAUTER

ADDRESS

:

RUTISTRASSE 7, 4103 BOTTMINGEN SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

13/04/2010

NATIONALITY

:

GERMAN

I/C PASSPORT

:

322901199

 

NAME

:

DAVOR PISK

ADDRESS

:

CRAVEN LODGE, GRASVENOR ROAD GODALMING GU71PA UK

POSITION

:

DIRECTOR

DATE OF APPT

:

19/04/2011

NATIONALITY

:

BRITISH

I/C PASSPORT

:

761238013

 

NAME

:

JASON FOGDEN

ADDRESS

:

137 JOO CHIAT PLACE SINGAPORE 427868

POSITION

:

DIRECTOR

DATE OF APPT

:

12/09/2012

NATIONALITY

:

BRITISH

I/C PASSPORT

:

G5290926R

 

NAME

:

TIMOTHY JOHN STATHAM

ADDRESS

:

92 TREVOSE CRESCENT DUNEARN ESTATE SINGAPORE 298080

POSITION

:

DIRECTOR

DATE OF APPT

:

12/09/2012

NATIONALITY

:

BRITISH

I/C PASSPORT

:

G5312940X

 

NAME

:

HARIHARAN ANANTHANARAYANAN

ADDRESS

:

29 LEONIE HILL #05-01 HORIZON TOWERS WEST SINGAPORE 239228

POSITION

:

DIRECTOR

DATE OF APPT

:

19/04/2011

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G6334653K

 

NAME

:

SIM SIEW KIANG

ADDRESS

:

613A UPPER CHANGI ROAD APOLLO GARDENS SINGAPORE 487026

POSITION

:

SECRETARY

DATE OF APPT

:

30/10/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0015157B

 

NAME

:

KOH TECK WAH

ADDRESS

:

57 COMPASSVALE BOW #07-13 QUARTZ, THE SINGAPORE 544987

POSITION

:

DIRECTOR

DATE OF APPT

:

19/07/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2760787Z

 

 

 

 

KEY PERSONNEL PROFILE

 

Name:

ULRICH STEFAN SAUTER

NRIC Number:

322901199

Available Address:

RUTISTRASSE 7, 4103 BOTTMINGEN SWITZERLAND

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

SYNGENTA AGRO ASIA PACIFIC PTE. LTD.

DIRECTOR

29/03/2012

-

NA

2

SYNGENTA ASIA PACIFIC PTE. LTD.

DIRECTOR

13/04/2010

-

NA

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

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 (%)

 

SYNGENTA SINGAPORE (BIOTECH) PTE. LTD.

100

SYNGENTA SINGAPORE (BIOTECH) PTE. LTD.

100

SYNGENTA SINGAPORE (BIOTECH) PTE. LTD.

100SYNGENTA SINGAPORE (BIOTECH) PTE. LTD.

100

 

                                                                                                                       

 

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

:

19/10/2012

Date of Last AR

:

28/12/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

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

3,077,807,157

16.20

2,648,741,332

2,725,033,685

2,571,399,258

1,608,715,804

Profit/(Loss) Before Tax

220,488,017

-22.57

284,768,006

297,916,432

274,694,811

260,767,522

Profit After Tax attributable

 to Shareholders

212,064,440

-24.38

280,441,031

281,805,429

264,333,964

254,881,227

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,730,958,572

-8.54

2,986,088,835

2,980,499,179

2,818,676,742

2,636,799,315

Current Assets

1,351,796,265

-10.19

1,505,154,457

1,297,561,349

1,013,432,362

854,420,660

Non Current Assets

1,379,162,307

-6.87

1,480,934,378

1,682,937,830

1,805,244,380

1,782,378,655

 

 

 

 

 

 

 

Total Liabilities

545,667,145

-2.13

557,519,049

417,084,696

571,031,859

517,160,429

Current Liabilities

543,048,348

-1.68

552,312,672

408,743,761

571,010,708

517,137,902

Non Current Liabilities

2,618,797

-49.70

5,206,377

8,340,935

21,151

22,527

 

 

 

 

 

 

 

Shareholders' Funds

2,185,291,427

-10.02

2,428,569,785

2,563,414,483

2,247,644,883

2,119,638,886

Share Capital

1,184,913,018

-7.74

1,284,296,777

1,373,376,904

1,331,699,904

1,418,193,033

Total Reserves

1,000,378,409

-12.58

1,144,273,008

1,190,037,579

915,944,979

701,445,853

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

16.20

-2.80

5.97

59.84

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

6.89

10.59

10.34

10.28

15.84

Return on Equity (%)

9.70

11.55

10.99

11.76

12.02

Return on Assets (%)

7.77

9.39

9.45

9.38

9.67

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.25

0.23

0.16

0.25

0.24

Current Debt/Equity (Times)

0.25

0.23

0.16

0.25

0.24

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.25

1.23

1.16

1.25

1.24

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.13

0.89

0.91

0.91

0.61

Fixed Assets Turnover (Times)

2.23

1.79

1.62

1.42

0.90

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.49

2.73

3.17

1.77

1.65

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 17.61% (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 6.89 per cent in FY11 (FY10: 10.59 per cent). The company is now able to book in SGD - SIN 0.07 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 2.49 times in FY11 (FY10: 2.73 times). This means that the company has SGD - SIN 2.49 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 0.25 times in FY11, as compared with 0.23 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.25 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 9.70 per cent for Subject in the current financial period, as compared to 11.55 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 7.77 per cent (FY10: 9.39 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 1.13 times in FY11 (FY10: 0.89 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.54.44

UK Pound

1

Rs.83.78

Euro

1

Rs.71.33

 

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.