MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AEG POWER SOLUTIONS PTE. LTD. |
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Formerly Known As : |
SAFT POWER SYSTEMS PTE. LTD. |
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Registered Office : |
54 Genting Lane #03-01 Ruby Land Complex Singapore 349562 |
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Country : |
Singapore |
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Financials (as on) : |
December 2011 |
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Date of Incorporation : |
03.11.2004 |
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Com. Reg. No.: |
200414280g |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Manufacturer of secondary batteries Manufacture, sale of power systems and related products |
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No. of Employees : |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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Company Name: |
Registered Number: |
|
AEG POWER SOLUTIONS PTE. LTD. |
200414280G |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
03/11/2004 |
54 GENTING LANE #03-01 RUBY LAND COMPLEX SINGAPORE 349562 |
6846 5700 |
|
Age of Company: |
Website: |
Industry Type: |
|
9 |
www.aegps.com |
ELECTRICITY/GAS/WATER |
|
Risk Dashboard |
||
|
Days Beyond
Terms |
Trend: |
No. of
Litigation Counts: |
|
Company DTC: |
NA |
|
|
38 |
||
|
Payment pattern
as per previous month |
No. of
Charges(s): |
|
|
Industry DTC |
|
|
|
19 |
||
|
Directors |
|
Corporate
Structure |
||
|
Number of
Current Directors |
2 |
Holding Company: |
AEG POWER SOLUTIONS B.V. |
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|
Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
NA |
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EXECUTIVE
SUMMARY
|
: |
AEG POWER SOLUTIONS PTE.
LTD. |
|
|
Registration No |
: |
200414280G |
|
Date of Registration |
: |
03/11/2004 |
|
Former Name |
: |
SAFT POWER SYSTEMS PTE.
LTD. Eff. date : 03/11/2004 Eff. date : 03/11/2004 |
|
Date of Change of Name |
: |
08/10/2008 |
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Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
54 GENTING LANE #03-01
RUBY LAND COMPLEX SINGAPORE 349562 |
|
Date of Change of Address |
: |
03/11/2004 |
|
Contact No. |
: |
6846 5700 |
|
Fax No. |
: |
6743 1037 |
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Website |
: |
|
|
Registered Activities |
: |
1. MANUFACTURE OF
SECONDARY BATTERIES MANUFACTURE, SALE OF
POWER SYSTEMS AND RELATED PRODUCTS 2. MANUFACTURE AND REPAIR
OF ELECTRIC GENERATORS MANUF, DISTRIBUTION &
MAINTENANCE OF POWER CONVERSION PRODUCTS & RELATED SVCS. |
|
Issued Ordinary Capital* |
: |
$1,200,000.00 EURO MEMBER
COUNTRIES, EURO ,NO. OF SHARE : 1,200,000 $1,300,002.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 1,300,002 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$1,300,002.00 SINGAPORE,
DOLLARS $1,200,000.00 EURO MEMBER
COUNTRIES, EURO |
|
Paid-Up Preference
Capital |
: |
NA |
|
* Number of Shares
includes number of Issued Treasury Shares |
||
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
|
Auditor |
: |
KPMG LLP |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN 32,013,000.00
(FY2011) |
|
Net Worth |
: |
SGD - SIN 4,817,000.00
(FY2011) |
|
No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
|
S1000 / SME 1000 / FG50
Ranking |
: |
|
|
Compounded Annual Growth
Rate (CAGR) |
: |
NA |
SHAREHOLDER DETAILS
|
: |
AEG POWER SOLUTIONS B.V. |
|
|
SHAREHOLDER ID |
: |
T08UF1962H |
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NATIONALITY |
: |
NETHERLANDS |
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ADDRESS |
: |
WEERENWEG 29, 1161 AG ZWANENBURG THE NETHERLANDS |
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NO. OF ORD SHARES |
: |
1,200,000 1,300,002 |
|
% OF SHAREHOLDING |
: |
48% 52% |
|
CURRENCY |
: |
EURO MEMBER COUNTRIES, EURO SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
TAN
KEE GUAN |
|
|
ADDRESS |
: |
59
WOO MON CHEW ROAD SIGLAP PARK SINGAPORE 455135 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
03/11/2004 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1469269Z |
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|
||
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NAME |
: |
ESTHER
AU SIEW PENG |
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ADDRESS |
: |
398
YISHUN RING ROAD #10-1739 SINGAPORE 760398 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
03/11/2004 |
|
NATIONALITY |
: |
SINGAPORE
P.R. |
|
I/C PASSPORT |
: |
S2595617F |
|
|
||
|
NAME |
: |
JOHN
CHARLES TAYLOR |
|
ADDRESS |
: |
341
BUKIT TIMAH ROAD #10-02 HONOLULU TOWER SINGAPORE 259719 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
06/12/2004 |
|
NATIONALITY |
: |
BRITISH |
|
I/C PASSPORT |
: |
S2728778F |
KEY PERSONNEL PROFILE
|
TAN KEE GUAN |
|
|
NRIC Number: |
S1469269Z |
|
Available Address: |
59 WOO MON CHEW ROAD SIGLAP
PARK SINGAPORE 455135 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
AEG POWER SOLUTIONS PTE. LTD. |
DIRECTOR |
03/11/2004 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
|
ASIALEC SINGAPORE PTE. LTD. |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
DIRECTOR |
28/04/2004 |
23/03/2011 |
|
|
2 |
ASIALEC SINGAPORE PTE. LTD. |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
28/04/2004 |
23/03/2011 |
|
3 |
HONG ASIA PTE LTD |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
01/07/1994 |
28/08/2008 |
|
4 |
TAN TOCK SENG HOSPITAL PTE LTD |
LIVE COMPANY |
SECRETARY |
01/06/1992 |
20/03/2013 |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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|
|
|
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Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
|
21079 |
- |
1999 |
27/08/1999 |
- |
Negligence
Related |
SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
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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 |
: |
|
|
Date of Last AR |
: |
17/05/2012 |
|
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 |
||||||
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|
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 |
|
|
|
|
|
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|
32,013,000 |
9.73 |
29,175,000 |
39,818,000 |
40,491,000 |
38,298,000 |
|
|
Profit/(Loss) Before Tax |
(2,295,000) |
NA |
(111,000) |
5,231,000 |
10,446,000 |
15,000 |
|
Profit After Tax attributable to
Shareholders |
(2,267,000) |
NA |
(154,000) |
4,396,000 |
8,493,000 |
(179,000) |
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Balance Sheet Key Figures |
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Total Assets |
19,294,000 |
3.31 |
18,676,000 |
22,897,000 |
27,427,000 |
19,162,000 |
|
Current Assets |
18,230,000 |
3.36 |
17,637,000 |
21,859,000 |
26,947,000 |
18,680,000 |
|
Non Current Assets |
1,064,000 |
2.41 |
1,039,000 |
1,038,000 |
480,000 |
482,000 |
|
|
|
|
|
|
|
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Total Liabilities |
14,477,000 |
24.89 |
11,592,000 |
12,007,000 |
15,908,000 |
16,136,000 |
|
Current Liabilities |
14,367,000 |
24.91 |
11,502,000 |
11,911,000 |
15,829,000 |
16,055,000 |
|
Non Current Liabilities |
110,000 |
22.22 |
90,000 |
96,000 |
79,000 |
81,000 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
4,817,000 |
-32.00 |
7,084,000 |
10,890,000 |
11,519,000 |
3,026,000 |
|
Share Capital |
3,842,000 |
0.00 |
3,842,000 |
3,842,000 |
3,842,000 |
3,842,000 |
|
Total Reserves |
975,000 |
-69.93 |
3,242,000 |
7,048,000 |
7,677,000 |
(816,000) |
FINANCIAL RATIOS
|
|
|||||
|
|
DEC
2011 |
DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
|
Growth % |
|
|
|
|
|
|
9.73 |
-26.73 |
-1.66 |
5.73 |
NA |
|
|
|
|
|
|
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Profitability |
|
|
|
|
|
|
Profit Margin (%) |
-7.08 |
-0.53 |
11.04 |
20.98 |
-0.47 |
|
Return on Equity (%) |
-47.06 |
-2.17 |
40.37 |
73.73 |
-5.92 |
|
Return on Assets (%) |
-11.75 |
-0.82 |
19.20 |
30.97 |
-0.93 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
3.01 |
1.64 |
1.10 |
1.38 |
5.33 |
|
Current Debt/Equity (Times) |
2.98 |
1.62 |
1.09 |
1.37 |
5.31 |
|
Long Term Debt To Equity (Times) |
0.02 |
0.01 |
0.01 |
0.01 |
0.03 |
|
Total Asset To Total Equity (Times) |
4.01 |
2.64 |
2.10 |
2.38 |
6.33 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
1.66 |
1.56 |
1.74 |
1.48 |
2.00 |
|
Fixed Assets Turnover (Times) |
30.09 |
28.08 |
38.36 |
84.36 |
79.46 |
|
|
|
|
|
|
|
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Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
1.27 |
1.53 |
1.84 |
1.70 |
1.16 |
FINANCIAL COMMENTARY
Profitability
We are unable to comment on
Subject's profitability.
Liquidity
Current ratio stood at 1.27 times in FY11
(FY10: 1.53 times). This means that the company has SGD - SIN 1.27 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 3.01 times in FY11, compared with 1.64 times in FY10. This means that
the company requires additional external financing of SGD - SIN 3.01 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 1.66 times in FY11 (FY10: 1.56
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.54.17 |
|
UK Pound |
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.