MIRA INFORM REPORT

 

 

Report Date :

17.04.2013

 

IDENTIFICATION DETAILS

 

Name :

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

 

 

Registered Office :

80 Robinson Road #27-00 Singapore 068898

 

 

Country :

Singapore

 

 

Financials (as on) :

March 2012 (Group)

 

 

Date of Incorporation :

06.02.2007

 

 

Com. Reg. No.:

200702159M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters)

 

 

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:

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

200702159M

 

Date Incorporated:

Registered Office:

Telephone Number:

06/02/2007

80 ROBINSON ROAD #27-00 SINGAPORE 068898

6321 3128

Age of Company:

Website:

Industry Type:

6

NA

COMMERCE-WHOLESALE

 

 

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

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

MITSUI & CO., LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

Registration No

:

200702159M

Date of Registration

:

06/02/2007

Former Name

:

MITSUI & CO (ASIA PACIFIC) PTE. LTD. Eff. date : 06/02/2007 Eff. date : 06/02/2007

Date of Change of Name

:

22/02/2007

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

80 ROBINSON ROAD #27-00 SINGAPORE 068898

Date of Change of Address

:

25/04/2011

Contact No.

:

6321 3128

Fax No.

:

6226 2957

Website

:

NA

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

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

Issued Ordinary Capital*

:

$225,101,415.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 225,101,415

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$225,101,415.00 UNITED STATES OF AMERICA, 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

:

4

Auditor

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 5,654,518,749.00 (FY2012)

Net Worth

:

SGD - SIN 608,357,547.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

MITSUI & CO., LTD.

SHAREHOLDER ID

:

T06UF0139C

NATIONALITY

:

NA

ADDRESS

:

2-1 OHTEMACHI 1-CHOME CHIYODA-KU TOKYO 100-0004, JAPAN

NO. OF ORD SHARES

:

225,101,415

% OF SHAREHOLDING

:

100%

CURRENCY

:

UNITED STATES OF AMERICA, DOLLARS

 

OFFICER DETAILS

 

NAME

:

SHINJI TSUCHIYA

ADDRESS

:

57B DEVONSHIRE ROAD #06-04 SUITES AT CENTRAL, THE SINGAPORE 239899

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5059025P

 

NAME

:

YAMAUCHI TAKASHI

ADDRESS

:

5B TANGLIN HILL SINGAPORE 248038

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

28/04/2011

28/04/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5126500P

 

NAME

:

ISAO UEDA

ADDRESS

:

7 ORANGE GROVE ROAD #03-169 TREETOPS EXECUTIVE RESIDENCES SINGAPORE 258355

POSITION

:

DIRECTOR

DATE OF APPT

:

20/09/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5194848W

 

NAME

:

MAKOTO KOTO

ADDRESS

:

2 KIM SENG WALK #08-13 SINGAPORE 239404

POSITION

:

DIRECTOR

DATE OF APPT

:

13/01/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5220933T

 

NAME

:

SHINJI SATO

ADDRESS

:

1 ANDERSON ROAD #08-03 SHANGRI-LA APARTMENTS, THE SINGAPORE 259983

POSITION

:

DIRECTOR

DATE OF APPT

:

02/04/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5268595N

 

OFFICER DETAILS

 

NAME

:

MASANOBU ITOH

ADDRESS

:

7 ORANGE GROVE ROAD #04-204 TREETOPS EXECUTIVE RESIDENCES SINGAPORE 258355

POSITION

:

DIRECTOR

DATE OF APPT

:

18/05/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6091573W

 

NAME

:

KENJI FUTAMURA

ADDRESS

:

80 MOHAMED SULTAN ROAD #04-23 SINGAPORE 239013

POSITION

:

SECRETARY

DATE OF APPT

:

28/04/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6389950Q

 

NAME

:

HIDEKI MORIMATSU

ADDRESS

:

6 MOUNT SOPHIA #07-05 8 @ MOUNT SOPHIA SINGAPORE 228457

POSITION

:

SECRETARY

DATE OF APPT

:

28/04/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6400263K

 

KEY PERSONNEL PROFILE

 

Name:

YAMAUCHI TAKASHI

NRIC Number:

G5126500P

Available Address:

5B TANGLIN HILL  SINGAPORE 248038

 

 

 

 

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

HUMAN CAPITAL LEADERSHIP INSTITUTE

DIRECTOR

01/10/2012

-

NA

2

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

DIRECTOR

28/04/2011

-

NA

3

MITSUI & CO. (ASIA PACIFIC) PTE. LTD.

MANAGING DIRECTOR

28/04/2011

-

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 (%)

 

MI-MI INVESTMENT SINGAPORE PTE. LTD.

50

MITORIENT HOLDING PTE LTD

49

REGENCY STEEL ASIA PTE. LTD.

27.2

TRI-NET LOGISTICS (ASIA) PTE LTD

20

                                                                                                                       

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

:

26/09/2012

Date of Last AR

:

19/10/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

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).

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

5,654,518,749

-4.01

5,890,626,864

3,405,872,758

2,884,851,447

10,212,133,545

Profit/(Loss) Before Tax

79,903,872

-67.71

247,447,568

52,304,137

(15,962,487)

21,504,617

Profit After Tax attributable to Shareholders

65,624,958

-72.74

240,701,328

46,669,125

(18,263,036)

20,255,810

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

1,804,866,489

-13.96

2,097,817,696

1,385,862,235

960,639,716

1,908,311,259

Current Assets

1,141,936,569

-25.12

1,525,016,768

899,358,661

687,706,710

1,766,779,221

Non Current Assets

662,929,920

15.73

572,800,928

486,503,574

272,933,006

141,532,038

 

 

 

 

 

 

 

Total Liabilities

1,196,508,942

-21.19

1,518,302,400

984,345,580

682,711,853

1,796,709,226

Current Liabilities

1,082,615,400

-17.49

1,312,041,424

816,054,837

624,475,529

1,796,664,890

Non Current Liabilities

113,893,542

-44.78

206,260,976

168,290,743

58,236,324

44,336

 

 

 

 

 

 

 

Shareholders' Funds

608,357,547

4.98

579,515,296

401,516,657

277,927,864

111,602,033

Share Capital

281,601,351

-5.80

298,934,128

219,926,488

174,248,861

44,336,370

Total Reserves

326,756,196

16.46

280,581,168

181,590,169

103,679,003

67,265,663

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-4.01

72.95

18.06

-71.75

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.16

4.09

1.37

NA

0.20

Return on Equity (%)

10.79

41.53

11.62

NA

18.15

Return on Assets (%)

3.64

11.47

3.37

NA

1.06

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.97

2.62

2.45

2.46

16.10

Current Debt/Equity (Times)

1.78

2.26

2.03

2.25

16.10

Long Term Debt To Equity (Times)

0.19

0.36

0.42

0.21

0.00

Total Asset To Total Equity (Times)

2.97

3.62

3.45

3.46

17.10

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.13

2.81

2.46

3.00

5.35

Fixed Assets Turnover (Times)

8.53

10.28

7.00

10.57

72.15

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.05

1.16

1.10

1.10

0.98

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

The group yielded a rate of net profit on sales of 1.16 per cent in FY12. The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.05 times in FY12. This means that the group has SGD - SIN 1.05 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.

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 1.97 times in FY12. This means that the group requires additional external financing of SGD - SIN 1.97 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 10.79 per cent for Subject in the current financial period. 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 3.64 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 3.13 times in FY12. This ratio measures the group'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.54.32

UK Pound

1

Rs.83.17

Euro

1

Rs.71.05

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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.