|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
199904761-K
|
|
COMPANY NAME
|
:
|
AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
13/08/1999
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
7, TEMASEK
BOULEVARD, 08-01, SUNTEC TOWER ONE, 038987, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
1 YISHUN AVENUE 7, 768923, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-63771688
|
|
FAX.NO.
|
:
|
65-68518077
|
|
WEB SITE
|
:
|
WWW.AGILENT.COM
|
|
CONTACT PERSON
|
:
|
CHEUNG KAM MAN ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING IN ELECTRONIC TESTER AND MEASUREMNETS
|
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
1,310,734.00 ORDINARY SHARE, OF A VALUE OF SGD 54,350,551.97
|
|
|
|
|
|
SALES
|
:
|
USD 1,590,329,000 [2012]
|
|
NET WORTH
|
:
|
USD 64,238,000 [2012]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
260 [2013]
|
|
BANKER (S)
|
:
|
|
OVERSEA-CHINESE BANKING CORPORATION LIMITED
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
LIMITED
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
N/A
|
|
CURRENCY EXPOSURE
|
:
|
N/A
|
|
GENERAL REPUTATION
|
:
|
GOOD
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
The SC is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the SC must have at
least two directors. A private limited company is a separate legal entity
from its shareholders. As a separate legal entity, the SC is capable of
owning assets, entering into contracts, sue or be sued by other companies.
The liabilities of the shareholders are to the extent of the equity they have
taken up and the creditors cannot claim on shareholders' personal assets even
if the SC is insolvent. The SC is governed by the Companies Act and the
company must file its annual returns, together with its financial statements
with the Registrar of Companies.
The SC is
principally engaged in the (as a / as an) trading in electronic tester and
measuremnets.
The immediate
holding company of the SC is AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL)
PTE. LTD., a company incorporated in SINGAPORE.
The ultimate
holding company of the SC is AGILENT TECHNOLOGIES INC., a company
incorporated in UNITED STATES.
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.
|
7, TEMASEK BOULEVARD, 08-01, SUNTEC TOWER ONE, 038987, SINGAPORE.
|
200923087N
|
1,310,734.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,310,734.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. CHEUNG KAM MAN
|
|
Address
|
:
|
370C, ALEXANDRA ROAD, 04-02, ANCHORAGE CONDOMINIUM, THE, 159956,
SINGAPORE.
|
|
IC / PP No
|
:
|
S2683386H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
24/08/2005
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
GOOI SOON CHAI
|
|
Address
|
:
|
2, HALAMAN CANTONMENT, 10350 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
A22777263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
05/10/2005
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
ROBIN JAY YOUNG
|
|
Address
|
:
|
39, MOUNT SINAI RISE, 03-02, FONTANA HEIGHTS, 276957, SINGAPORE.
|
|
IC / PP No
|
:
|
BA688380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
CANADIAN
|
|
Date of Appointment
|
:
|
15/11/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
YANG ENG HUAT
|
|
Address
|
:
|
119, MARSILING RISE, 06-132, 730119, SINGAPORE.
|
|
IC / PP No
|
:
|
S1745013A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
09/02/2004
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
CHEE ENG CHUAN CHARLES
|
|
Address
|
:
|
22, WILBY ROAD, 01-17, TESSARINA, THE, 276306, SINGAPORE.
|
|
IC / PP No
|
:
|
S0035099J
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
03/08/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
CHEUNG KAM MAN
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
BDO LLP
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company Secretary
|
:
|
TAN LI HUANG MARY LYNNE
|
|
|
IC / PP No
|
:
|
S1654258Z
|
|
|
|
|
|
|
|
Address
|
:
|
50, GOLDDHILL AVENUE, 01-02, MOUNT ROSIE GARDEN, 309031, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
OVERSEA-CHINESE BANKING CORPORATION LIMITED
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200303857
|
08/08/2003
|
N/A
|
OVERSEA-CHINESE BANKING CORPORATION LIMITED
|
N/A
|
Unsatisfied
|
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
The SC refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data
we conclude that :
|
OVERALL PAYMENT HABIT
|
|
Prompt 0-30 Days
|
[
|
|
]
|
|
Good 31-60 Days
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
X
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC refused to disclose its clientele.
OPERATIONS
|
Goods Traded
|
:
|
ELECTRONIC TESTER
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2013
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
260
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading in electronic
tester and measuremnets.
The SC is one of the leading trading company in Singapore.
The SC's visionary approach to management and for their commitment to making
products that contribute to advances in science and technology.
The SC's major advances in mass spectrometry instrumentation expand the
breadth of application and provide significant advances in performance.
RECENT DEVELOPMENT
August 1, 2013
SC today announced that the 2013 Russell Varian Prize for Innovation in
Nuclear Magnetic Resonance has been awarded to Dr. Lucio Frydman, professor
and Kimmel Fellow at the Weizmann Institute of Science in Rehovot, Israel.
Dr. Frydman's seminal paper, "The Acquisition of Multidimensional NMR
Spectra within a Single Scan," introduces a unique technique for
recording multidimensional NMR spectra in a single scan, and describes the
theoretical basis and experimental realization of this ultrafast NMR
methodology.
December 17, 2012
SC today introduced the industry's first eMMC (embedded multimedia card)
compliance test application for embedded storage solutions. The SC's N6465A
eMMC test application helps memory design engineers validate and debug eMMC
NAND flash memory cards faster by automating the execution of a series of
parametric tests, including electrical and timing measurements, on Agilent
Infiniium 9000, 90000A, 90000 X- and 90000 Q-Series oscilloscopes.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
65-63771688
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
199904761K NO 1 YISHUN AVENUE 7 SINGAPORE 768923 SINGAPORE
|
|
Current Address
|
:
|
1 YISHUN AVENUE 7, 768923, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
|
Other Investigations
We contacted one of the staff from the SC and she provided some infomation on
the SC.
The address provided is incorrect.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Decreased
|
[
|
0.34%
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
6.69%
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Unfavourable
|
[
|
4.21%
|
]
|
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
3.21%
|
]
|
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the unfavourable market
conditions.The dip in profit could be due to the stiff market competition
which reduced the SC's profit margin. The unfavourable return on
shareholders' funds could indicate that the SC was inefficient in utilising
its assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Working Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
14 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
40 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Unfavourable
|
[
|
80 Days
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the
SC. The unfavourable creditors' ratio could be due to the SC taking
advantage of the credit granted by its suppliers. However this may affect
the goodwill between the SC and its suppliers and the SC may inadvertently
have to pay more for its future supplies.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Favourable
|
[
|
1.12 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.27 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the SC in order
to assure its creditors of its ability to meet short term obligations and
the SC was in a good liquidity position. Thus, we believe the SC is able to
meet all its short term obligations as and when they fall due.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Nil
|
[
|
0.00 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was nil as it did not pay any interest
during the year. The SC had no gearing and hence it had virtually no
financial risk. The SC was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the SC, having a
zero gearing, will be able to compete better than those which are highly
geared in the same industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The SC's performance deteriorated over the years with lower turnover
and profit. The SC was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the SC should be able to repay its short term obligations. The SC
did not make any interest payment during the year. The SC was dependent on
its shareholders' funds to finance its business needs. The SC was a zero
gearing company, it was solely dependant on its shareholders to provide
funds to finance its business. The SC has good chance of getting loans, if
the needs arises.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : LIMITED
|
SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
Major Economic Indicators :
|
2008
|
2009
|
2010
|
2011
|
2012
|
|
|
|
|
|
|
|
|
Population (Million)
|
4.84
|
4.98
|
5.08
|
5.18
|
5.31
|
|
Gross Domestic Products ( % )
|
1.5
|
<0.8>
|
14.5
|
4.9
|
1.3
|
|
Consumer Price Index
|
6.6
|
0.6
|
2.8
|
5.2
|
4.6
|
|
Total Imports (Million)
|
450,892.6
|
356,299.3
|
423,221.8
|
459,655.1
|
474,554.0
|
|
Total Exports (Million)
|
476,762.2
|
391,118.1
|
478,840.7
|
514,741.2
|
510,329.0
|
|
|
|
|
|
|
|
|
Unemployment Rate (%)
|
2.2
|
3.2
|
2.2
|
2.1
|
2.0
|
|
Tourist Arrival (Million)
|
10.12
|
9.68
|
11.64
|
13.17
|
14.37
|
|
Hotel Occupancy Rate (%)
|
81.0
|
75.8
|
85.6
|
86.5
|
86.4
|
|
Cellular Phone Subscriber (Million)
|
1.31
|
1.37
|
1.43
|
1.50
|
1.52
|
|
|
|
|
|
|
|
|
Registration of New Companies (No.)
|
25,327
|
26,414
|
29,798
|
32,317
|
31,892
|
|
Registration of New Companies (%)
|
<2.2>
|
4.3
|
12.8
|
8.5
|
<1.3>
|
|
Liquidation of Companies (No.)
|
10,493
|
22,393
|
15,126
|
19,005
|
17,218
|
|
Liquidation of Companies (%)
|
13.7
|
113.4
|
<32.5>
|
25.6
|
9.4
|
|
|
|
|
|
|
|
|
Registration of New Businesses (No.)
|
24,850
|
26,876
|
23,978
|
23,494
|
24,788
|
|
Registration of New Businesses (%)
|
0.36
|
8.15
|
<10.78>
|
2.02
|
5.51
|
|
Liquidation of Businesses (No.)
|
21,150
|
23,552
|
24,211
|
23,005
|
22,489
|
|
Liquidation of Businesses (%)
|
<0.8>
|
11.4
|
2.8
|
<5>
|
<2.2>
|
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.)
|
2,326
|
2,058
|
1,537
|
1,527
|
1,748
|
|
Bankruptcy Orders (%)
|
<15.9>
|
<11.5>
|
<25.3>
|
<0.7>
|
14.5
|
|
Bankruptcy Discharges (No.)
|
1,500
|
3,056
|
2,252
|
1,391
|
1,881
|
|
Bankruptcy Discharges (%)
|
<7.7>
|
103.7
|
<26.3>
|
<38.2>
|
35.2
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) :
|
|
|
|
|
|
|
Agriculture
|
|
|
|
|
|
|
Production of Principal Crops
|
<0.32>
|
3.25
|
<0.48>
|
4.25
|
3.64
|
|
Fish Supply & Wholesale
|
<6.31>
|
<1.93>
|
<10.5>
|
12.10
|
<0.5>
|
|
|
|
|
|
|
|
|
Manufacturing *
|
74.6
|
71.5
|
92.8
|
100.0
|
100.3
|
|
Food, Beverages & Tobacco
|
94.8
|
90.4
|
96.4
|
100.0
|
103.5
|
|
Textiles
|
180.1
|
145.9
|
122.1
|
100.0
|
104.0
|
|
Wearing Apparel
|
334.6
|
211.0
|
123.3
|
100.0
|
92.1
|
|
Leather Products & Footwear
|
128.2
|
79.5
|
81.8
|
100.0
|
98.6
|
|
Wood & Wood Products
|
132.0
|
101.4
|
104.0
|
100.0
|
95.5
|
|
Paper & Paper Products
|
101.0
|
95.4
|
106.1
|
100.0
|
97.4
|
|
Printing & Media
|
118.2
|
100.9
|
103.5
|
100.0
|
93.0
|
|
Crude Oil Refineries
|
113.1
|
96.4
|
95.6
|
100.0
|
99.4
|
|
Chemical & Chemical Products
|
84.5
|
80.3
|
97.6
|
100.0
|
100.5
|
|
Pharmaceutical Products
|
43.7
|
49.1
|
75.3
|
100.0
|
109.7
|
|
Rubber & Plastic Products
|
120.1
|
101.2
|
112.3
|
100.0
|
96.5
|
|
Non-metallic Mineral
|
96.5
|
91.9
|
92.5
|
100.0
|
98.2
|
|
Basic Metals
|
109.8
|
92.6
|
102.2
|
100.0
|
90.6
|
|
Fabricated Metal Products
|
101.3
|
90.8
|
103.6
|
100.0
|
104.3
|
|
Machinery & Equipment
|
65.0
|
57.3
|
78.5
|
100.0
|
112.9
|
|
Electrical Machinery
|
81.7
|
86.8
|
124.1
|
100.0
|
99.3
|
|
Electronic Components
|
93.1
|
85.2
|
113.6
|
100.0
|
90.6
|
|
Transport Equipment
|
102.0
|
96.0
|
94.0
|
100.0
|
106.3
|
|
|
|
|
|
|
|
|
Construction
|
45.90
|
<36.9>
|
14.20
|
20.50
|
28.70
|
|
Real Estate
|
<11.2>
|
1.4
|
21.3
|
25.4
|
31.9
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
Electricity, Gas & Water
|
<1.3>
|
1.70
|
4.00
|
7.00
|
6.30
|
|
Transport, Storage & Communication
|
11.60
|
3.90
|
12.80
|
7.40
|
5.30
|
|
Finance & Insurance
|
<5.9>
|
<16.4>
|
<0.4>
|
8.90
|
0.50
|
|
Government Services
|
17.40
|
4.50
|
9.70
|
6.90
|
6.00
|
|
Education Services
|
0.50
|
0.10
|
<0.9>
|
<1.4>
|
0.30
|
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100)
|
|
|
|
|
|
|
(Source : Department of Statistics)
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
INDUSTRY :
|
TRADING
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the
fourth quarter of 2012, extending the 0.2% decline in the preceding
quarter. For the whole of 2012, the sector declined by 0.7%, reversing the
1.6% growth in 2011. The sector was weighed down primarily by the wholesale
trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a
reversal from the 1.4% growth in 2011. Growth of the retail trade segment
also moderated to 2.0%, from 3.2% in the year 2011.
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth
quarter of 2012, an improvement from the 5.4% decline in the third quarter.
This was partly due to an increase in the sales of chemicals & chemical
products and ship chandlers & bunkering. For the full year of 2012, the
domestic wholesale trade index contracted by 2.2%, extending the 1.7%
decline in 2011. The foreign wholesale trade index grew by 8.6% in the
fourth quarter, an increase from the 6.6% growth in the third quarter. The
expansion was partly due to resilient sales of petroleum & petroleum
products. For the whole of 2012, the foreign wholesale trade index expanded
by 9.1%, faster than the 4.3% increase in 2011.
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell
by 11% in the fourth quarter of 2012, after contracting by 6.1% in the
third quarter. The sales of several discretionary items also declined in
the fourth quarter. Besides, the sales of optical goods & books in 2012
fell by 3.6%, while the sales of telecommunications apparatus &
computers declined by 1.4%.
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to
the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in
retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012.
Medical goods & toiletries registered the largest increase (9.3%) in sales,
followed by telecommunications apparatus & computers (6.9%). By
contrast, the sales of watches & jewellery (-2.2%) and optical goods
& books (-3.6%) declined.
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1999, the SC is a Private Limited company, focusing on
trading in electronic tester and measuremnets. With its long establishment
in the market, the SC has received strong support from its stable customers
base. Its business position in the market is quite stable and it is
expected to enjoy better market shares over its rivals. Having strong
support from its shareholder has enabled the SC to remain competitive
despite the challenging business environment. The SC is a large entity with
strong capital position. We are confident with the SC's business and its
future growth prospect.
The SC is a fairly large and rapidly growing company with over 260 staff in
its operations. Overall, we regard that the SC's management capability is
average. This indicates that the SC has greater potential to improve its
business performance and raising income for the SC.
The SC's business performance showed a reverse trend as both its turnover
and pre-tax profit have decreased compared to the previous year. The SC has
generated an unfavourable return on shareholders' funds indicating that the
management was inefficient in utilising its funds to generate return. The
SC however is in good liquidity position with its current liabilities well
covered by it current assets. Hence, it has sufficient working capital to
meet its short term financial obligations. Being a zero geared company, the
SC virtually has no financial risk as it is mainly dependent on its
internal funds to finance its business. Given a positive net worth standing
at USD 64,238,000, the SC should be able to maintain its business in the
near terms.
The SC's payment habit is average. With its adequate working capital, the
SC should be able to pay its short term debts.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the SC is expected to benefit from the favourable
outlook of the industry.
Based on the above condition, we recommend credit be granted to the SC
normally.
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
AGILENT
TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.
|
|
Financial Year End
|
31/10/2012
|
31/10/2011
|
|
Months
|
12
|
12
|
|
Consolidated Account
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
|
Currency
|
USD
|
USD
|
|
|
|
|
|
TURNOVER
|
1,590,329,000
|
1,595,736,000
|
|
Other Income
|
1,063,000
|
777,000
|
|
|
----------------
|
----------------
|
|
Total Turnover
|
1,591,392,000
|
1,596,513,000
|
|
Costs of Goods Sold
|
<1,395,498,000>
|
<1,395,263,000>
|
|
|
----------------
|
----------------
|
|
Gross Profit
|
195,894,000
|
201,250,000
|
|
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
3,596,000
|
3,854,000
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
3,596,000
|
3,854,000
|
|
Taxation
|
<893,000>
|
<557,000>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
2,703,000
|
3,297,000
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
2,703,000
|
3,297,000
|
|
Extraordinary items
|
-
|
<146,000>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
|
2,703,000
|
3,151,000
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously reported
|
11,558,000
|
8,407,000
|
|
|
----------------
|
----------------
|
|
As restated
|
11,558,000
|
8,407,000
|
|
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
14,261,000
|
11,558,000
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
14,261,000
|
11,558,000
|
|
|
=============
|
=============
|
|
|
|
|
BALANCE SHEET
|
AGILENT
TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.
|
|
ASSETS EMPLOYED:
|
|
|
|
FIXED ASSETS
|
2,110,000
|
1,928,000
|
|
|
|
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
2,110,000
|
1,928,000
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
Stocks
|
62,327,000
|
70,160,000
|
|
Trade debtors
|
174,740,000
|
204,303,000
|
|
Other debtors, deposits & prepayments
|
955,000
|
921,000
|
|
Short term loan to financial institutions
|
5,328,000
|
3,922,000
|
|
Amount due from related companies
|
278,993,000
|
175,856,000
|
|
Cash & bank balances
|
1,565,000
|
1,607,000
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
523,908,000
|
456,769,000
|
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
526,018,000
|
458,697,000
|
|
|
=============
|
=============
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Trade creditors
|
304,385,000
|
247,418,000
|
|
Other creditors & accruals
|
98,316,000
|
91,735,000
|
|
Deposits from customers
|
11,122,000
|
8,316,000
|
|
Provision for taxation
|
42,000
|
2,521,000
|
|
Other liabilities
|
19,000
|
17,000
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
413,884,000
|
350,007,000
|
|
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
110,024,000
|
106,762,000
|
|
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
112,134,000
|
108,690,000
|
|
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
47,085,000
|
47,085,000
|
|
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
47,085,000
|
47,085,000
|
|
|
|
|
|
RESERVES
|
|
|
|
Exchange equalisation/fluctuation reserve
|
-
|
11,000
|
|
Retained profit/(loss) carried forward
|
14,261,000
|
11,558,000
|
|
Others
|
2,892,000
|
2,675,000
|
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
17,153,000
|
14,244,000
|
|
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
64,238,000
|
61,329,000
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
Deferred taxation
|
306,000
|
160,000
|
|
Others
|
47,590,000
|
47,201,000
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
47,896,000
|
47,361,000
|
|
|
----------------
|
----------------
|
|
|
112,134,000
|
108,690,000
|
|
|
=============
|
=============
|
|
|
|
|
FINANCIAL RATIO
|
AGILENT
TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
1,565,000
|
1,607,000
|
|
Net Liquid Funds
|
1,565,000
|
1,607,000
|
|
Net Liquid Assets
|
47,697,000
|
36,602,000
|
|
Net Current Assets/(Liabilities)
|
110,024,000
|
106,762,000
|
|
Net Tangible Assets
|
112,134,000
|
108,690,000
|
|
Net Monetary Assets
|
<199,000>
|
<10,759,000>
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Borrowings
|
0
|
0
|
|
Total Liabilities
|
461,780,000
|
397,368,000
|
|
Total Assets
|
526,018,000
|
458,697,000
|
|
Net Assets
|
112,134,000
|
108,690,000
|
|
Net Assets Backing
|
64,238,000
|
61,329,000
|
|
Shareholders' Funds
|
64,238,000
|
61,329,000
|
|
Total Share Capital
|
47,085,000
|
47,085,000
|
|
Total Reserves
|
17,153,000
|
14,244,000
|
|
LIQUIDITY (Times)
|
|
|
|
Cash Ratio
|
0.00
|
0.00
|
|
Liquid Ratio
|
1.12
|
1.10
|
|
Current Ratio
|
1.27
|
1.31
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
14
|
16
|
|
Debtors Ratio
|
40
|
47
|
|
Creditors Ratio
|
80
|
65
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
|
Liabilities Ratio
|
7.19
|
6.48
|
|
Times Interest Earned Ratio
|
0.00
|
0.00
|
|
Assets Backing Ratio
|
2.38
|
2.31
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
0.23
|
0.24
|
|
Net Profit Margin
|
0.17
|
0.21
|
|
Return On Net Assets
|
3.21
|
3.55
|
|
Return On Capital Employed
|
3.21
|
3.55
|
|
Return On Shareholders' Funds/Equity
|
4.21
|
5.38
|
|
Dividend Pay Out Ratio (Times)
|
0.00
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
|
Contingent Liabilities
|
0
|
0
|
|