MIRA INFORM REPORT

 

 

Report Date :

20.04.2013

 

IDENTIFICATION DETAILS

 

Name :

CLARIANT (SINGAPORE) PTE. LTD.

 

 

Formerly Known as:

Sandoz Chemicals Pte. Ltd.

 

 

Registered Office :

1 International Business Park #08-01-04 Synergy, The Singapore 609917

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2011

 

 

Date of Incorporation :

31.10.1990

 

 

Com. Reg. No.:

199005381C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacturer of petrochemical 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 :

Satisfactory 

Payment Behaviour :

No  Complaints

Litigation :

Exists

 

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:

CLARIANT (SINGAPORE) PTE. LTD.

199005381C

 

Date Incorporated:

Registered Office:

Telephone Number:

31/10/1990

1 INTERNATIONAL BUSINESS PARK #08-01-04 SYNERGY, THE SINGAPORE 609917

6563 0288

Age of Company:

Website:

Industry Type:

23

NA

MANUFACTURING

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

3

27

Worse off than last month;last month the entity took 17 days to pay

No. of Charges(s):
0

Industry DTC

 

123

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

CLARIANT AG

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

CLARIANT (SINGAPORE) PTE. LTD.

Registration No

:

199005381C

Date of Registration

:

31/10/1990

Former Name

:

SANDOZ CHEMICALS PTE. LTD. Eff. date : 31/10/1990 Eff. date : 31/10/1990

Date of Change of Name

:

07/08/1995

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 INTERNATIONAL BUSINESS PARK #08-01-04 SYNERGY, THE SINGAPORE 609917

Date of Change of Address

:

01/01/2011

Contact No.

:

6563 0288

Fax No.

:

6563 0200

Website

:

NA

Registered Activities

:

1. MANUFACTURE OF PETROCHEMICAL PRODUCTS NEC

MANUF BASIC INDUSTRIAL CHEMICALS

2. MANUFACTURE OF WAXES AND POLISHES AND DEODORISING PREPARATIONS

MANUF CHEMICAL PRODS NEC (EG. DISINFECTANTS)

Issued Ordinary Capital*

:

$2,500,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 2,500,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$2,500,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 117,861,062.00 (FY2011)

Net Worth

:

SGD - SIN 21,828,829.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

3

S1000 / SME 1000 / FG50 Ranking

:

1767 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

1489 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

18.11% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

CLARIANT AG

SHAREHOLDER ID

:

T11UF4736B

NATIONALITY

:

SWITZERLAND

ADDRESS

:

ROTHAUSSTRASSE 61, CH-4132 MUTTENZ 1, SWITZERLAND

NO. OF ORD SHARES

:

2,500,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

DR RALF-HENRI ERICH WOLFRAM SCHLOEMER

ADDRESS

:

FUCHSHOHL 12, DE-65812 BAD SODEN AM TAUNUS GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2010

NATIONALITY

:

GERMAN

I/C PASSPORT

:

414223523

 

NAME

:

STEPHAN LYNEN

ADDRESS

:

ST.-ALBANWEG 4A DE-79539 LORRACH, GERMANY

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2010

NATIONALITY

:

GERMAN

I/C PASSPORT

:

C9FZT7HTV

 

NAME

:

ALFRED CHRISTIAN MUENCH

ADDRESS

:

ZELGLISTRASSE 4, CH-8127 FORCH SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F0282063

 

NAME

:

WALTER RUDOLF MOHR

ADDRESS

:

8 KEPPEL BAY VIEW #03-35 REFLECTIONS AT KEPPEL BAY SINGAPORE 098406

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/01/2007

01/01/2007

NATIONALITY

:

GERMAN

I/C PASSPORT

:

G5917772P

 

NAME

:

ESTHER AU SIEW PENG

ADDRESS

:

398 YISHUN RING ROAD #10-1739 SINGAPORE 760398

POSITION

:

SECRETARY

DATE OF APPT

:

01/08/2001

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2595617F

 

 

KEY PERSONNEL PROFILE

 

Name:

WALTER RUDOLF MOHR

NRIC Number:

G5917772P

Available Address:

8 KEPPEL BAY VIEW #03-35 REFLECTIONS AT KEPPEL BAY  SINGAPORE 98406

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CLARIANT (SINGAPORE) PTE. LTD.

DIRECTOR

01/01/2007

-

NA

2

CLARIANT (SINGAPORE) PTE. LTD.

MANAGING DIRECTOR

01/01/2007

-

NA

3

SUD-CHEMIE SOUTH EAST ASIA PTE LTD

DIRECTOR

19/06/2012

-

NA

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

GLOBAL AMINES COMPANY PTE. LTD.

LIVE COMPANY

DIRECTOR

07/02/2013

12/04/2013

 

Bnkruptcy 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 (%)

 

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

 

there have been 3  litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

District ($80,000 - $250,000)

0

2

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

15731

 

Transfer

:

-

 

Date of Filing

:

26/05/2009

 

Amount

:

SGD 2,614.70

SGD 400.00

 

Cause

:

Tort - Negligence (Motor Accidents)

 

Case Status

:

PENDING

 

Plaintiff

:

SMART AUTOMOBILE PTE LTD

MOHAMMAD NOOR BIN YUSOF

 

Last Update Date

:

27/05/2009

 

2)

Court

:

District Court

 

Case No.

:

4485

 

Transfer

:

-

 

Date of Filing

:

31/10/1996

 

Amount

:

42,181.70

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

SIANG LOONG ELECTRICAL CONTRACTOR PTE LTD

 

Last Update Date

:

24/10/2007

 

3)

Court

:

District Court

 

Case No.

:

1115

 

Transfer

:

-

 

Date of Filing

:

16/03/1996

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(INJURIES)

 

Case Status

:

NA

 

Plaintiff

:

JUSTIN A/L MAHIMENATHAN S/A HIS UNCLE AND HIS NEXT

 

Last Update Date

:

13/03/2000

 

 

COMPLIANCE

 

Date of Last AGM

:

29/06/2012

Date of Last AR

:

27/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

http://www.bizfile.gov.sg/mybizfile/prod/pop_up/Tick.png   

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).

 

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

117,861,062

53.69

76,688,031

56,873,397

62,681,720

60,560,338

Profit/(Loss) Before Tax

15,659,047

144.09

6,415,364

4,335,783

5,724,988

2,266,206

Profit After Tax attributable

 to Shareholders

14,583,049

190.23

5,024,733

3,344,783

4,579,988

2,044,439

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

72,605,984

112.16

34,222,477

32,781,509

29,198,432

33,793,560

Current Assets

58,367,724

126.69

25,747,255

24,556,324

20,043,899

23,852,633

Non Current Assets

14,238,260

68.00

8,475,222

8,225,185

9,154,533

9,940,927

 

 

 

 

 

 

 

Total Liabilities

50,777,155

120.99

22,976,697

21,560,462

16,522,168

21,697,284

Current Liabilities

50,204,524

124.09

22,404,066

21,139,462

16,042,168

21,191,284

Non Current Liabilities

572,631

0.00

572,631

421,000

480,000

506,000

 

 

 

 

 

 

 

Shareholders' Funds

21,828,829

94.11

11,245,780

11,221,047

12,676,264

12,096,276

Share Capital

2,500,000

0.00

2,500,000

2,500,000

2,500,000

2,500,000

Total Reserves

19,328,829

121.01

8,745,780

8,721,047

10,176,264

9,596,276

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

53.69

34.84

-9.27

3.50

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

12.37

6.55

5.88

7.31

3.38

Return on Equity (%)

66.81

44.68

29.81

36.13

16.90

Return on Assets (%)

20.09

14.68

10.20

15.69

6.05

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.33

2.04

1.92

1.30

1.79

Current Debt/Equity (Times)

2.30

1.99

1.88

1.27

1.75

Long Term Debt To Equity (Times)

0.03

0.05

0.04

0.04

0.04

Total Asset To Total Equity (Times)

3.33

3.04

2.92

2.30

2.79

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.62

2.24

1.73

2.15

1.79

Fixed Assets Turnover (Times)

8.28

9.05

6.91

6.85

6.09

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.16

1.15

1.16

1.25

1.13

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 18.11% (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 12.37 per cent in FY11 (FY10: 6.55 per cent). The company is now able to book in SGD - SIN 0.12 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.07 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.16 times in FY11 (FY10: 1.15 times). This means that the company has SGD - SIN 1.16 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 2.33 times in FY11, as compared with 2.04 times in FY10. This means that the company requires additional external financing of SGD - SIN 2.33 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 66.81 per cent for Subject in the current financial period, as compared to 44.68 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 20.09 per cent (FY10: 14.68 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 1.62 times in FY11 (FY10: 2.24 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.54.03

UK Pound

1

Rs.82.43

Euro

1

Rs.70.49

 

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.