MIRA INFORM REPORT

 

 

Report Date :

18.04.2013

 

IDENTIFICATION DETAILS

 

Name :

ARROW ELECTRONICS ASIA (S) PTE. LTD.

 

 

Formerly Known As :

ARROW ELECTRONICS INDONESIA PTE LTD

 

 

Registered Office :

750e Chai Chee Road #07-01/02 Technopark @ Chai Chee Singapore 469005

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2011

 

 

Date of Incorporation :

19.08.1995

 

 

Com. Reg. No.:

199505934R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Electronic Components

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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:

ARROW ELECTRONICS ASIA (S) PTE. LTD.

199505934R

 

Date Incorporated:

Registered Office:

Telephone Number:

19/08/1995

750E CHAI CHEE ROAD #07-01/02 TECHNOPARK @ CHAI CHEE SINGAPORE 469005

6311 9566

Age of Company:

Website:

Industry Type:

17

NA

COMMERCE-WHOLESALE

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

NA

 

7

 

Better than last month;last month the entity took 13 days to pay

No. of Charges(s):
0

 

Industry DTC

 

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

COMPONENTS AGENT (CAYMAN) LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

3

 

EXECUTIVE SUMMARY

 

Company Name

:

ARROW ELECTRONICS ASIA (S) PTE. LTD.

Registration No

:

199505934R

Date of Registration

:

19/08/1995

Former Name

:

1.ARROW ELECTRONICS (INDONESIA) PTE LTD Eff. date : 19/08/1995 Eff. date : 19/08/1995

2.ARROW ELECTRONICS INDONESIA PTE LTD Eff. date : 26/12/1997 Eff. date : 26/12/1997

Date of Change of Name

:

22/07/2002

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

750E CHAI CHEE ROAD #07-01/02 TECHNOPARK @ CHAI CHEE SINGAPORE 469005

Date of Change of Address

:

19/01/2004

Contact No.

:

6311 9566

Fax No.

:

6311 9577

Website

:

NA

Registered Activities

:

1. WHOLESALE OF ELECTRONIC COMPONENTS

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

Issued Ordinary Capital*

:

$6,929,994.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 6,929,994

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$6,929,994.00 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

:

3

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 559,078,089.00 (FY2011)

Net Worth

:

SGD - SIN (42,987,512.00) (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

418 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

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

443 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2004/2005)

386 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

3.01% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

COMPONENTS AGENT (CAYMAN) LIMITED

SHAREHOLDER ID

:

T03UF0274H

NATIONALITY

:

CAYMAN ISLANDS

ADDRESS

:

P.O.BOX 2681 GT,GEORGE TOWN GRAND CAYMAN, BRITISH, WEST INDIES

NO. OF ORD SHARES

:

6,929,994

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

PETER S. BROWN

ADDRESS

:

20 SUTTON PLACE SOUTH, NEW YORK, USA 10025

POSITION

:

DIRECTOR

DATE OF APPT

:

22/12/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

141752910

 

NAME

:

PAUL JOSEPH REILLY

ADDRESS

:

21 OSBORNE ROAD, GARDEN CITY NEW YORK, USA 11530

POSITION

:

DIRECTOR

DATE OF APPT

:

15/08/2002

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

445187675

 

NAME

:

YU MAN WANG

ADDRESS

:

FLAT L 23/F BLK 2 ROYAL PENINSULA HUNG HOM KOWLOON HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

13/08/2010

NATIONALITY

:

BR NAT. OVERSEAS

I/C PASSPORT

:

790204052

 

NAME

:

TAN GEOK CHENG DORIS

ADDRESS

:

229 TAMPINES STREET 23 #12-257 SINGAPORE 521229

POSITION

:

SECRETARY

DATE OF APPT

:

28/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0067114B

 

NAME

:

MANALORE MANICKAVASAGAM NATARAJAN

ADDRESS

:

53 TAMPINES AVENUE 1 #04-02 TROPICA, THE SINGAPORE 529772

POSITION

:

DIRECTOR

DATE OF APPT

:

02/05/2012

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2744318D

 

 

KEY PERSONNEL PROFILE

 

Name:

PAUL JOSEPH REILLY

NRIC Number:

445187675

Available Address:

21 OSBORNE ROAD, GARDEN CITY NEW YORK, USA 11530

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ACHIEVA COMPONENTS (INDIA) PRIVATE LIMITED

DIRECTOR

04/07/2008

-

NA

2

ACHIEVA COMPONENTS PTE LTD

DIRECTOR

04/07/2008

-

NA

3

ACHIEVA ELECTRONICS PTE LTD

DIRECTOR

04/07/2008

-

NA

4

ARROW ELECTRONICS (S) PTE LTD

DIRECTOR

15/08/2002

-

NA

5

ARROW ELECTRONICS ASIA (S) PTE. LTD.

DIRECTOR

15/08/2002

-

NA

6

ETEQ COMPONENTS PTE LTD

DIRECTOR

01/12/2008

-

NA

7

NEWTECH ELECTRONICS PTE LTD

DIRECTOR

04/07/2008

-

NA

8

NIC COMPONENTS ASIA PTE LTD

DIRECTOR

13/07/2011

-

NA

9

NU HORIZONS ELECTRONICS ASIA PTE LTD

DIRECTOR

13/07/2011

-

NA

10

RICHARDSON RFPD SINGAPORE PTE. LTD.

DIRECTOR

01/12/2008

-

NA

11

TITAN SUPPLY CHAIN SERVICES PTE LTD

DIRECTOR

13/07/2011

-

NA

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ARROW ELECTRONICS (S) PTE LTD

LIVE COMPANY

ALTERNATE DIRECTOR

15/11/2005

-

2

ARROW ELECTRONICS ASIA (S) PTE. LTD.

LIVE COMPANY

ALTERNATE DIRECTOR

15/11/2005

-

3

ARROW STRONG ELECTRONICS (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

ALTERNATE DIRECTOR

22/12/2003

-

4

ETEQ COMPONENTS INTERNATIONAL PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/12/2008

-

5

STRONG PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

ALTERNATE DIRECTOR

12/11/2007

-

 

 

KEY PERSONNEL PROFILE

 

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 (%)

 

ACHIEVA ELECTRONICS PTE LTD

100

ACHIEVA COMPONENTS PTE LTD

100

RICHARDSON RFPD SINGAPORE 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

:

30/08/2012

Date of Last AR

:

04/10/2012

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).

 

 

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

559,078,089

-18.05

682,232,395

561,780,597

533,007,024

496,476,805

Profit/(Loss) Before Tax

(4,821,937)

NA

1,954,818

(5,477,240)

(58,186,009)

3,471,902

Profit After Tax attributable

 to Shareholders

(4,124,402)

NA

1,084,750

(5,294,504)

(58,019,814)

3,285,066

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

196,386,346

-14.96

230,940,293

255,361,776

221,355,295

214,383,397

Current Assets

167,861,676

-16.47

200,957,771

228,144,239

191,926,179

214,098,773

Non Current Assets

28,524,670

-4.86

29,982,522

27,217,537

29,429,116

284,624

 

 

 

 

 

 

 

Total Liabilities

239,373,858

-12.34

273,063,020

301,566,168

261,023,716

194,840,091

Current Liabilities

239,373,858

-12.34

273,063,020

301,566,168

260,997,286

194,835,944

Non Current Liabilities

0

NA

0

0

26,430

4,147

 

 

 

 

 

 

 

Shareholders' Funds

(42,987,512)

NA

(42,122,727)

(46,204,391)

(39,668,421)

19,543,306

Share Capital

5,000,477

-7.74

5,419,889

5,795,818

5,619,936

5,984,948

Total Reserves

(47,987,989)

NA

(47,542,616)

(52,000,209)

(45,288,357)

13,558,358

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-18.05

21.44

5.40

7.36

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-0.74

0.16

-0.94

-10.89

0.66

Return on Equity (%)

9.59

-2.58

11.46

146.26

16.81

Return on Assets (%)

-2.10

0.47

-2.07

-26.21

1.53

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

-5.57

-6.48

-6.53

-6.58

9.97

Current Debt/Equity (Times)

0.00

0.00

0.00

0.00

9.97

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

-4.57

-5.48

-5.53

-5.58

10.97

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.85

2.95

2.20

2.41

2.32

Fixed Assets Turnover (Times)

19.60

22.75

20.64

18.11

1,744.33

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.70

0.74

0.76

0.74

1.10

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 3.01% (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

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 0.70 times in FY11 (FY10: 0.74 times). This means that the company has SGD - SIN 0.70 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

We are unable to comment on Subject's leverage.

 

Efficiency Ratio

Return on equity was 9.59 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.

 

We are unable to comment on Subject's return on assets.

 

Total assets turnover ratio logged at 2.85 times in FY11 (FY10: 2.95 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.53.94

UK Pound

1

Rs.82.77

Euro

1

Rs.71.05

 

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.