MIRA INFORM REPORT

 

 

Report Date :

11.12.2013

 

IDENTIFICATION DETAILS

 

Name :

SHIMADZU (ASIA PACIFIC) PTE LTD

 

 

Registered Office :

79 Science Park Drive #02-01/08 Cintech Iv Singapore 118264

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2010

 

 

Date of Incorporation :

18.10.1989

 

 

Com. Reg. No.:

198904521E

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Research and experimental development on biotechnology, life and medical science

R&d, import, export, repair analytical, medical & industrial goods

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

Good

Payment Behaviour :

Regular

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:

SHIMADZU (ASIA PACIFIC) PTE LTD

198904521E

 

Date Incorporated:

Registered Office:

Telephone Number:

18/10/1989

79 SCIENCE PARK DRIVE #02-01/08 CINTECH IV SINGAPORE 118264

6778 6280

Age of Company:

Website:

Industry Type:

23

www.shimadzu.com.sg

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

15

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

SHIMADZU CORPORATION

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

SHIMADZU (ASIA PACIFIC) PTE LTD

Registration No

:

198904521E

Date of Registration

:

18/10/1989

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

79 SCIENCE PARK DRIVE #02-01/08 CINTECH IV SINGAPORE 118264

Date of Change of Address

:

06/07/2009

Contact No.

:

6778 6280

Fax No.

:

6778 6901

Website

:

www.shimadzu.com.sg

Registered Activities

:

1. RESEARCH AND EXPERIMENTAL DEVELOPMENT ON BIOTECHNOLOGY, LIFE AND MEDICAL SCIENCE

R&D, IMPORT,EXPORT, REPAIR ANALYTICAL, MEDICAL & INDUSTRIAL GOODS

2. HARDWARE CONSULTANCY (INCLUDING SYSTEMS CONSULTANCY)

Issued Ordinary Capital*

:

$3,150,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 3,150,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,150,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 186,318,376.00 (FY2010)

Net Worth

:

SGD - SIN 79,721,753.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

1173 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1270 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

990 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

750 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

934 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

6.1% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SHIMADZU CORPORATION

SHAREHOLDER ID

:

S89UF0368F

NATIONALITY

:

JAPAN

ADDRESS

:

1 NISHINOKYO-KUWABARACHO NAKAGYO-KU KYOTO 604-8511, JAPAN

NO. OF ORD SHARES

:

3,150,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KIMINOBU IMURA

ADDRESS

:

99 ROBERTSON QUAY #15-16 RIVERGATE SINGAPORE 238258

POSITION

:

DIRECTOR

DATE OF APPT

:

28/06/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5222903R

 

NAME

:

WATARU TAJIMA

ADDRESS

:

3-10-20 FUNABASHI , SETAGAYA-KU, TOKYO 156-0055, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

28/06/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MS4210148

 

NAME

:

LEE SIEW JEE JENNIFER

ADDRESS

:

2 ENG KONG ROAD SINGAPORE 599081

POSITION

:

SECRETAR

DATE OF APPT

:

28/06/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1336064B

 

NAME

:

JIRO TAKASHIMA

ADDRESS

:

108 SEKIMACHI-MINAMI, 1-124 NERIMA, TOKYO 177-0053 JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

28/06/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH2188682

 

NAME

:

TARO TAKAHATA

ADDRESS

:

8-10-13 MIYAMOTO, FUNABASHI CITY CHIBA PREFECTURE, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

26/06/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0260919

 

 

KEY PERSONNEL PROFILE

 

Name:

KIMINOBU IMURA

NRIC Number:

G5222903R

Available Address:

99 ROBERTSON QUAY #15-16 RIVERGATE  SINGAPORE 238258

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

SHIMADZU (ASIA PACIFIC) PTE LTD

DIRECTOR

28/06/2012

-

-

2

SHIMADZU (ASIA PACIFIC) PTE LTD

MANAGING DIRECTOR

28/06/2012

-

-

3

SHIMADZU SINGAPORE PTE LTD

DIRECTOR

28/06/2012

-

-

4

SHIMADZU SINGAPORE PTE LTD

MANAGING DIRECTOR

28/06/2012

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

Bankruptcy 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 (%)

 

SHIMADZU 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

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

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

:

Magistrate Court

 

Case No.

:

17093

 

Transfer

:

-

 

Date of Filing

:

23/08/2000

 

Amount

:

24,355.00

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

COMTEMPORARY LUBRICANTS PTE LTD

 

COMPLIANCE

 

Date of Last AGM

:

20/06/2011

Date of Last AR

:

11/07/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

 

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 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

186,318,376

23.68

150,650,616

169,547,740

155,110,300

147,005,228

Profit/(Loss) Before Tax

9,110,500

-17.20

11,003,351

11,521,149

18,115,868

17,435,719

Profit After Tax attributable

 to Shareholders

7,981,733

-12.56

9,128,551

9,066,441

14,743,296

14,304,139

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

119,934,079

6.60

112,510,896

96,327,182

91,024,779

94,328,751

Current Assets

113,261,860

7.59

105,271,470

90,695,462

85,838,104

89,238,372

Non Current Assets

6,672,219

-7.83

7,239,426

5,631,720

5,186,675

5,090,379

 

 

 

 

 

 

 

Total Liabilities

40,212,324

10.60

36,359,727

34,390,332

36,736,617

46,495,707

Current Liabilities

40,212,324

10.60

36,359,727

34,390,332

36,736,617

46,488,171

Non Current Liabilities

0

NA

0

0

0

7,536

 

 

 

 

 

 

 

Shareholders' Funds

79,721,753

4.69

76,151,168

61,936,849

54,288,163

47,833,046

Share Capital

3,130,008

0.22

3,123,196

2,759,144

2,563,994

2,730,292

Total Reserves

76,591,745

4.88

73,027,972

59,177,705

51,724,169

45,102,754

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

23.68

-11.15

9.31

5.51

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.28

6.06

5.35

9.51

9.73

Return on Equity (%)

10.01

11.99

14.64

27.16

29.90

Return on Assets (%)

6.66

8.11

9.41

16.20

15.16

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.50

0.48

0.56

0.68

0.97

Current Debt/Equity (Times)

0.50

0.48

0.56

0.68

0.97

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.50

1.48

1.56

1.68

1.97

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.55

1.34

1.76

1.70

1.56

Fixed Assets Turnover (Times)

27.92

20.81

30.11

29.91

28.88

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.82

2.90

2.64

2.34

1.92

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 6.1% (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 4.28 per cent in FY10 (FY09: 6.06 per cent). The company is now able to book in SGD - SIN 0.04 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.06 a year ago.

 

Liquidity

Current ratio stood at 2.82 times in FY10 (FY09: 2.90 times). This means that the company has SGD - SIN 2.82 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 0.50 times in FY10, compared with 0.48 times in FY09. This means that the company requires additional external financing of SGD - SIN 0.50 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 10.01 per cent for Subject in the current financial period, as compared to 11.99 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 6.66 per cent (FY09: 8.11 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 1.55 times in FY10 (FY09: 1.34 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.61.21

UK Pound

1

Rs.100.65

Euro

1

Rs.84.15

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

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.