MIRA INFORM REPORT

 

 

Report Date :

20.04.2013

 

IDENTIFICATION DETAILS

 

Name :

ROHM AND HAAS ELECTRONIC MATERIALS SINGAPORE PTE. LTD.

 

 

Formerly Known as:

SHIPLEY SINGAPORE PTE LTD Eff. date : 25/01/2000 Eff. date : 25/01/2000

 

 

Registered Office :

260 Orchard Road #18-01 Heeren, The Singapore 238855

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2011

 

 

Date of Incorporation :

16.11.1994

 

 

Com. Reg. No.:

199408351G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Basic Industrial Chemicals (Except Fertilisers)

 

 

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 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:

ROHM AND HAAS ELECTRONIC MATERIALS SINGAPORE PTE. LTD.

199408351G

 

Date Incorporated:

Registered Office:

Telephone Number:

16/11/1994

260 ORCHARD ROAD #18-01 HEEREN, THE SINGAPORE 238855

6796 6222

Age of Company:

Website:

Industry Type:

19

NA

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

0

70

Worse off than last month; last month the entity took 20 days to pay

No. of Charges(s):
0

 

Industry DTC

 

 

27

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

2

No. of Subsidiaries & Associated Companies:

NA

 

Company name

 

ROHM AND HAAS ELECTRONIC MATERIALS SINGAPORE PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

ROHM AND HAAS ELECTRONIC MATERIALS SINGAPORE PTE. LTD.

Registration No

:

199408351G

Date of Registration

:

16/11/1994

Former Name

:

1.LEARONAL SINGAPORE PTE LTD Eff. date : 16/11/1994 Eff. date : 16/11/1994

2.SHIPLEY SINGAPORE PTE LTD Eff. date : 25/01/2000 Eff. date : 25/01/2000

Date of Change of Name

:

03/12/2003

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

260 ORCHARD ROAD #18-01 HEEREN, THE SINGAPORE 238855

Date of Change of Address

:

15/07/2010

Contact No.

:

6796 6222

Fax No.

:

6863 3198

Website

:

NA

Registered Activities

:

1. WHOLESALE OF BASIC INDUSTRIAL CHEMICALS (EXCEPT FERTILISERS)

2. WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS NEC

Issued Ordinary Capital*

:

$200,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 200,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$200,000.00 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 81,757,000.00 (FY2011)

Net Worth

:

SGD - SIN 1,403,000.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

0

S1000 / SME 1000 / FG50 Ranking

:

1853 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

4.34% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

ROHM AND HAAS ELECTRONIC MATERIALS ASIA LIMITED

SHAREHOLDER ID

:

T04UF1717E

NATIONALITY

:

HONG KONG

ADDRESS

:

ROHM AND HAAS ELECTRONIC MATERIALS ASIA TECHNOLOGY CENTRE 15 ON LOK MUN STREET.,ON LOK TSUEN,FANLING,N.T. HONGKONG

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

RH ASIA HOLDING GMBH

SHAREHOLDER ID

:

T07UF2073K

NATIONALITY

:

SWITZERLAND

ADDRESS

:

GROSSMATTE 4, CH-6014 LITTAU, SWITZERLAND

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHEN, CHENG-CHUN

ADDRESS

:

23F., NO. 10, SEC 4, HUANHE E. RD., YONGHE DIST., NEW TAIPEI CITY #23452, TAIWAN, R.O.C.

POSITION

:

DIRECTOR

DATE OF APPT

:

21/07/2011

NATIONALITY

:

TAIWANESE

I/C PASSPORT

:

214522950

 

NAME

:

CHRIS NG CHEE KHIANG

ADDRESS

:

7 DRAYCOTT DRIVE #13-02 SINGAPORE 259421

POSITION

:

DIRECTOR

DATE OF APPT

:

29/03/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1245188A

 

NAME

:

LIM YOKE LOON

ADDRESS

:

133 JALAN PELATOK EAST VIEW GARDEN SINGAPORE 488468

POSITION

:

DIRECTOR

DATE OF APPT

:

04/10/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7135645J

 

NAME

:

CATHERINE LIM SIOK CHING

ADDRESS

:

116 BISHAN STREET 12 #05-44 BISHAN VIEW SINGAPORE 570116

POSITION

:

SECRETARY

DATE OF APPT

:

05/01/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7540675D

 

 

KEY PERSONNEL PROFILE

 

Name:

CHRIS NG CHEE KHIANG

NRIC Number:

S1245188A

Available Address:

7 DRAYCOTT DRIVE #13-02  SINGAPORE 259421

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DOW CHEMICAL (SINGAPORE) PTE LTD

DIRECTOR

01/05/2006

-

NA

2

DOW CHEMICAL CHINA HOLDINGS PTE. LTD.

DIRECTOR

19/10/2010

-

NA

3

DOW CHEMICAL PACIFIC (SINGAPORE) PRIVATE LIMITED

DIRECTOR

01/05/2006

-

NA

4

DOW FINANCIAL SERVICES INC.

AGENT

01/05/2006

-

NA

5

ROHM AND HAAS CHEMICALS SINGAPORE PTE. LTD.

DIRECTOR

01/09/2009

-

NA

6

ROHM AND HAAS ELECTRONIC MATERIALS SINGAPORE PTE. LTD.

DIRECTOR

29/03/2010

-

NA

7

ROHM AND HAAS SINGAPORE (PTE) LTD

DIRECTOR

01/11/2009

-

NA

8

UNION CARBIDE CUSTOMER SERVICES PTE LTD

DIRECTOR

01/05/2006

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

STYRON ASIA LIMITED - SINGAPORE BRANCH

CEASED REGISTRATION

AGENT

18/07/2006

-

2

STYRON HOLDINGS ASIA PTE. LTD.

LIVE COMPANY

DIRECTOR

01/05/2006

20/03/2013

3

UNION CARBIDE ASIA PACIFIC, INC.

CEASED REGISTRATION

AGENT

01/05/2006

-

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

 

KEY PERSONNEL PROFILE

 

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

 

The following litigation suits were traced against Subject.

 

To date, there have been 1 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

0

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

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

3848

 

Transfer

:

-

 

Date of Filing

:

02/11/2009

 

Amount

:

182,336.74

 

Cause

:

Employment

 

Case Status

:

CONCLUDED

 

Plaintiff

:

MANI RAJU RAMASAMY

 

Last Update Date

:

15/11/2011

 

COMPLIANCE

 

Date of Last AGM

:

31/08/2012

Date of Last AR

:

28/09/2012

Date of A/C Laid At Last AGM

:

31/12/2011

 

 

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).

 

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

81,757,000

-13.29

94,293,000

63,385,000

66,985,000

68,978,414

Profit/(Loss) Before Tax

(7,122,000)

NA

(327,000)

(984,000)

(148,000)

280,601

Profit After Tax attributable

 to Shareholders

(7,211,000)

NA

(236,000)

(855,000)

(406,000)

155,246

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

57,280,000

47.08

38,945,000

28,520,000

18,142,000

25,277,631

Current Assets

57,121,000

47.47

38,733,000

28,169,000

17,742,000

24,735,818

Non Current Assets

159,000

-25.00

212,000

351,000

400,000

541,813

 

 

 

 

 

 

 

Total Liabilities

55,877,000

83.98

30,371,000

19,710,000

8,477,000

15,206,779

Current Liabilities

55,877,000

83.98

30,371,000

19,710,000

8,414,000

15,140,826

Non Current Liabilities

0

NA

0

0

63,000

65,953

 

 

 

 

 

 

 

Shareholders' Funds

1,403,000

-83.64

8,574,000

8,810,000

9,665,000

10,070,852

Share Capital

200,000

0.00

200,000

200,000

200,000

200,000

Total Reserves

1,203,000

-85.63

8,374,000

8,610,000

9,465,000

9,870,852

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-13.29

48.76

-5.37

-2.89

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-8.82

-0.25

-1.35

-0.61

0.23

Return on Equity (%)

-513.97

-2.75

-9.70

-4.20

1.54

Return on Assets (%)

-12.59

-0.61

-3.00

-2.24

0.61

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

39.83

3.54

2.24

0.88

1.51

Current Debt/Equity (Times)

39.83

3.54

2.24

0.87

1.50

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.01

0.01

Total Asset To Total Equity (Times)

40.83

4.54

3.24

1.88

2.51

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.43

2.42

2.22

3.69

2.73

Fixed Assets Turnover (Times)

514.19

444.78

180.58

167.46

127.31

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.02

1.28

1.43

2.11

1.63

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 4.34% (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 1.02 times in FY11 (FY10: 1.28 times). This means that the company has SGD - SIN 1.02 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 39.83 times in FY11, compared with 3.54 times in FY10. This means that the company requires additional external financing of SGD - SIN 39.83 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

 

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

 

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

 

Total assets turnover ratio logged at 1.43 times in FY11 (FY10: 2.42 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 :

SDA

 

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.