|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KS ENERGY LIMITED |
|
|
|
|
Formerly Known As : |
KS ENERGY SERVICES LIMITED |
|
|
|
|
Registered Office : |
19, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.01.1983 |
|
|
|
|
Com. Reg. No.: |
198300104-G |
|
|
|
|
Legal Form : |
Public (Limited By Share) |
|
|
|
|
Line of Business : |
Wholesale of industrial machinery and equipment |
|
|
|
|
No. of Employees : |
200 |
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 |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
-- |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
|
REGISTRATION NO. |
: |
198300104-G |
|
COMPANY NAME |
: |
KS ENERGY LIMITED |
|
FORMER NAME |
: |
KS ENERGY SERVICES
LIMITED (28/04/2011) |
|
INCORPORATION DATE |
: |
07/01/1983 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PUBLIC (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
YES |
|
LISTED DATE |
: |
06/08/1999 |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
19, JURONG PORT ROAD, 619093, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
19 JURONG PORT ROAD, 619093, SINGAPORE. |
|
TEL.NO. |
: |
65-65774600 |
|
FAX.NO. |
: |
65-65774618 |
|
WEB SITE |
: |
WWW.KSENERGY.COM.SG |
|
CONTACT PERSON |
: |
LIM HO SENG ( MANAGING DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
524,240,215.00 ORDINARY SHARE, OF A VALUE OF SGD 361,629,700.55 |
|
|
|
|
|
SALES |
: |
SGD 698,129,000 [2012] |
|
NET WORTH |
: |
SGD 419,223,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
200 [2013] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
As a public limited company, the Subject must have at least one shareholder but there is no limit on the maximum number of shareholders. The Subject must have at least two directors. A public limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, suing or be sued by other companies. The liabilities of the shareholders are only up to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and must file in its annual return, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) wholesale of industrial machinery and equipment.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
26/12/2013 |
SGD 361,629,700.55 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OVERSEA CHINESE BANK NOMINEES PTE LTD |
65, CHULIA STREET, 28 - 01, OCBC CENTRE, 049513, SINGAPORE. |
194800054 |
178,000,000.00 |
33.95 |
|
CITIBANK NOMINEES SINGAPORE PTE LTD |
8, MARINA VIEW, 21 - 00, ASIA SQUARE TOWER 1, 018960, SINGAPORE. |
198801936 |
56,894,668.00 |
10.85 |
|
PACIFIC ONE ENERGY LIMITED |
|
OTH011193 |
54,151,690.00 |
10.33 |
|
DUBAI TRANSPORT COMPANY LLC |
|
OTH011194 |
50,751,948.00 |
9.68 |
|
RAFFLES NOMINEES (PTE) LTD |
7, CHANGI BUSINESS PARK CRESCENT, 03 - 00, STANDARD CHARTERED @ CHANGI, 486028, SINGAPORE. |
193700032 |
12,573,000.00 |
2.40 |
|
DBS NOMINEES (PRIVATE) LIMITED |
12, MARINA BOULEVARD, 018982, SINGAPORE. |
196900222 |
5,051,733.00 |
0.96 |
|
SUNFIELD PTE. LTD. |
100, JALAN SULTAN, 09 - 09, SULTAN PLAZA, 199001, SINGAPORE. |
200301324W |
2,500,000.00 |
0.48 |
|
UNITED OVERSEAS BANK NOMINEES PTE LTD |
80, RAFFLES PLACE UOB PLAZA, 048624, SINGAPORE. |
196800520 |
2,049,637.00 |
0.39 |
|
LIM GEOK SENG |
|
|
1,916,730.00 |
0.37 |
|
BNP PARIBAS SECURITIES SERVICES PTE LTD |
|
AFOTH011168 |
1,615,000.00 |
0.31 |
|
REMAINING SHAREHOLDERS |
|
|
158,735,809.00 |
30.28 |
|
|
|
|
--------------- |
------ |
|
|
|
|
524,240,215.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
200819112C |
SINGAPORE |
KSE (PHILIPPINES) PTE LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
200403097M |
SINGAPORE |
UNITED OILFIELD SERVICES PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
BERMUDA |
ATLANTIC ROTTERDAM LIMITED |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
VIRGIN ISLANDS, BRITISH |
SPHINX FRONTIER LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
200503186G |
SINGAPORE |
HARTA HOLDING PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
200503177E |
SINGAPORE |
HARTA OFFSHORE & MARINE SERVICES PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
198502360H |
SINGAPORE |
KS OILFIELD EQUIPMENT PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
MAURITIUS |
KS OILFIELD SERVICES LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
HONG KONG |
KS DISCOVERER 2 (HK) LIMITED |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
199401121E |
SINGAPORE |
KS FABRICATION AND ENGINEERING PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
200105112M |
SINGAPORE |
GLOBALTECH SYSTEMS ENGINEERING PTE LTD |
82.00 |
31/12/2012 |
|
|
|
|
|
|
|
200700221H |
SINGAPORE |
KS DISCOVERER 4 PTE. LTD. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
200708591M |
SINGAPORE |
KS DISCOVERER 2 PTE. LTD. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
200920855C |
SINGAPORE |
KS DRILLING PTE. LTD. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
200723513G |
SINGAPORE |
KS DISCOVERER 1 PTE. LTD. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
HONG KONG |
KS DISCOVERER 3 (HK) LIMITED |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
EGYPT |
ATLANTIC MARINE SERVICE EGYPT |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
NETHERLANDS |
ATLANTIC ONSHORE SERVICES B.V. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
HONG KONG |
KS DISCOVERY (HK) LIMITED |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
NETHERLANDS |
ATLANTIC OILFIELD SERVICES EUROPE B.V. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CYPRUS |
ATLANTIC MARINE SERVICES (CYPRUS) GROUP LTD. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CYPRUS |
QIM VENTURES LIMITED |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
VIRGIN ISLANDS, BRITISH |
KSAM2 PETRODRILL OFFSHORE INC. |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
VIRGIN ISLANDS, BRITISH |
MINERAL ENERGY RESERVES DRILLER INC |
80.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
INDONESIA |
PT GLOBALTECH SYSTEMS ENGINEERING |
78.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
INDONESIA |
PT ATLANTIC OILFIELD SERVICES |
76.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
RAYMONDS SUPPLY (SHENZHEN) CO., LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
KS EQUIPMENT (SHANGHAI) LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
AUSTRALIA |
KS DISTRIBUTION (AUST) PTY LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
RAYMONDS SUPPLY (SHANGHAI) CO., LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
DALIAN F.T.Z. SIN SOON HUAT INTERNATIONAL TRADE CO. LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200922607D |
SINGAPORE |
KS DISTRIBUTION PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
197600985C |
SINGAPORE |
SSH CORPORATION LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200713566E |
SINGAPORE |
AQUA-TERRA LOGISTICS PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200706579C |
SINGAPORE |
AQUA-TERRA OILFIELD EQUIPMENT & SERVICES PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200000186Z |
SINGAPORE |
KS MARINEHUB PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
201002239C |
SINGAPORE |
SSH CORPORATION (PNG) PTE LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
THAILAND |
KS DISTRIBUTION (THAILAND) LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200709243D |
SINGAPORE |
AQUA-TERRA GLOBAL PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
VIETNAM |
KS DISTRIBUTION (VIETNAM) COMPANY LIMITED |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
505420V |
MALAYSIA |
KS DISTRIBUTION (MALAYSIA) SDN. BHD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
198201875C |
SINGAPORE |
SIN SOON HUAT INTERNATIONAL TRADING PTE LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200210293Z |
SINGAPORE |
STARBEAM TECHNOLOGY PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200619187W |
SINGAPORE |
MH GLOBAL PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
INDONESIA |
PT AT OCEANIC OFFSHORE |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
INDONESIA |
PT KSD INDONESIA |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
KS DISTRIBUTION (SHANGHAI) LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200100108D |
SINGAPORE |
AQUA-TERRA SUPPLY CO. LIMITED |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
AQUA-TERRA SUPPLY (TIANJIN) OILFIELD EQUIPMENT TRADING CO LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200204407E |
SINGAPORE |
GLOBALTECH OFFSHORE & MARINE PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
200611699N |
SINGAPORE |
KS FLOW CONTROL PTE. LTD. |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
198800824M |
SINGAPORE |
ORIENT MARINE PTE LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
199900177R |
SINGAPORE |
FISCHER ENGINEERING PTE LTD |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
HONG KONG |
RAYMONDS SUPPLY COMANY LIMITED |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
HONG KONG |
SURE LINK TRANSPORTATION LIMITED |
55.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
SURE LINK LOGISTICS (SHENZHEN) CO., LIMITED |
55.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. LIM HO SENG |
|
Address |
: |
100, NEO TIEW ROAD, 719026, SINGAPORE. |
|
IC / PP No |
: |
S0271375F |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/09/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
LAWRENCE STEPHEN BASAPA |
|
Address |
: |
76, KEW DRIVE, KEW GROVE, 467987, SINGAPORE. |
|
IC / PP No |
: |
S0350056Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/06/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
ERNEST SEOW TENG PENG |
|
Address |
: |
2, AVON ROAD, 439780, SINGAPORE. |
|
IC / PP No |
: |
S0355407D |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/06/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
KRIS TAENAR WILUAN |
|
Address |
: |
93, GRANGE ROAD, 02-08, GRANGE RESIDENCES, 249614, SINGAPORE. |
|
IC / PP No |
: |
S2624594Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
02/05/2006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
WONG MENG YENG |
|
Address |
: |
1, VICTORIA PARK ROAD, VICTORIA PARK, 266478, SINGAPORE. |
|
IC / PP No |
: |
S1327330H |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/04/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject |
: |
BILLY LEE BENG CHENG |
|
Address |
: |
53, GENTLE ROAD, 309173, SINGAPORE. |
|
IC / PP No |
: |
S0150107J |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/04/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
LIM HO SENG |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
BUSARAKHAM KOHSIKAPORN |
|
|
IC / PP No |
: |
S1681236F |
|
|
|
|
|
|
|
Address |
: |
31, MARINE CRESCENT, 09 - 139, MARINE CRESCENT VILLE, 440031, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
YVONNE CHOO |
|
|
IC / PP No |
: |
S0090447C |
|
|
|
|
|
|
|
Address |
: |
2, CALDECOTT CLOSE, CALDECOTT HILL ESTATE, 299110, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|
|
||||||||||||
|
Code No |
: |
99 |
Case No |
: |
900 |
|
|
|
|
|
|||
|
Year |
: |
2009 |
Place |
: |
SINGAPORE |
|
|
|
|
|
|||
|
Court |
: |
SUPREME COURT |
|
|
|
|
|
|
|
|
|||
|
Date Filed |
: |
23/10/2009 |
|
|
|
|
|
|
|
|
|||
|
Solicitor Ref |
: |
LTKW/KKJ/NHM/3221 1.1 LTKW/KKJ |
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Solicitor Firm |
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RODYK & DAVIDSON LLP |
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Plaintiff |
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BR ENERGY (M) SDN BHD |
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Defendants |
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Amount Claimed |
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15000000 |
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Nature of Claim |
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USD |
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Remark |
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CONTRACTS - SALE OF GOODS & SERVICES |
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NOTE: |
Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed. The person wo has been sued has the same name as the subject. However, we are unable to determine whether the person sued is the one and the same person. |
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No winding up petition was found in our databank |
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SOURCES OF RAW MATERIALS: |
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Local |
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YES |
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Overseas |
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YES |
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The Subject 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 :
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OVERALL PAYMENT HABIT |
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Prompt 0-30 Days |
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Good 31-60 Days |
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Average 61-90 Days |
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X |
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Fair 91-120 Days |
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Poor >120 Days |
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Local |
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YES |
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Domestic Markets |
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SINGAPORE |
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Overseas |
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YES |
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Export Market |
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WORLDWIDE |
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Credit Term |
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AS AGREED |
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Payment Mode |
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CHEQUES |
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Goods Traded |
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INDUSTRIAL MACHINERY AND EQUIPMENT
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Ownership of premises |
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OWNED
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Total Number of Employees: |
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YEAR |
2013 |
2011 |
2010 |
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GROUP |
N/A |
N/A |
N/A |
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COMPANY |
200 |
100 |
100 |
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Branch |
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NO
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Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
industrial machinery and equipment.
The Subject is one of the leading integrated oilfield supply and services
providers to the global oil & gas, marine and petrochemical industries.
The core activities of the Subject is in the distribution of parts and
components, capital equipment charter and provision of drilling and rig
management services.
The Subject represents more than 300 globally-accredited brands and distributes
more than 60,000 line items.
The Subject supplies parts and equipment to a wide network of oil majors, rig
owners and drilling contractors.
To-date, the Subject has secured quite a few capital equipment related
contracts from major oil companies in Asia, Scandinavia, North America as well
as the Middle East.
CURRENT INVESTIGATION
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Latest fresh investigations carried out on the Subject indicated that :
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Telephone Number Provided By Client |
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N/A |
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Current Telephone Number |
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65-65774600 |
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Match |
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N/A |
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Address Provided by Client |
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SINGAPORE |
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Current Address |
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19 JURONG PORT ROAD, 619093, SINGAPORE. |
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Match |
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NO |
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Other Investigations
we contacted one of the staff from the subject and she provided some information
on the subject.
Through our research, KS DRILLING PTE LTD is only 80% owned by the subject.
We were unable to verify the address as it is incomplete.
The Subject refused to dsiclose its banker.
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Profitability |
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Turnover |
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Erratic |
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2009 - 2012 |
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Profit/(Loss) Before Tax |
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Decreased |
[ |
2009 - 2012 |
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Return on Shareholder Funds |
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Unfavourable |
[ |
0.31% |
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Return on Net Assets |
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Unfavourable |
[ |
4.64% |
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The fluctuating turnover reflects the fierce competition among the existing and new market players.The management had succeeded in turning the Subject into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. The unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns. |
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Working Capital Control |
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Stock Ratio |
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Unfavourable |
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70 Days |
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Debtor Ratio |
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Unfavourable |
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86 Days |
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Creditors Ratio |
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Favourable |
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58 Days |
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The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors. |
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Liquidity |
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Liquid Ratio |
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Acceptable |
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0.89 Times |
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Current Ratio |
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Unfavourable |
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1.25 Times |
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The Subject's liquid ratio was slightly low. This could indicate that the Subject's working capital was slightly deficient. The Subject will have to improve its liquidity position either by obtaining short term financing or increase its paid up capital so that it can meet all its short term obligations as and when they fall due. |
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Solvency |
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Interest Cover |
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Unfavourable |
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2.02 Times |
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Gearing Ratio |
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Favourable |
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0.63 Times |
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The Subject's interest cover was low. If its profits fall or when interest rate rises, it may not be able to meet all its interest payment. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry. |
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Overall Assessment : |
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The Subject's turnover showed a volatile trend but its losses were lower when compared to the previous corresponding period. This could suggest that the Subject was more efficient in its operating cost control and was more competitive. The Subject's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations. |
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Overall financial condition of the Subject : LIMITED |
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SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
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Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
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Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
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Gross Domestic Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
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Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
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Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
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Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
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Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
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Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
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Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
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Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
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Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
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Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
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Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
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Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
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Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
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Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
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Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
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Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
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Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
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Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
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Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
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Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
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INDUSTRIES ( % of Growth ) : |
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Agriculture |
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Production of Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
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Fish Supply & Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
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Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
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Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
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Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
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Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
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Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
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Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
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Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
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Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
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Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
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Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
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Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
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Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
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Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
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Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
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Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
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Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
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Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
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Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
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Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
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Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
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Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
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Services |
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Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
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Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
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Finance & Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
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Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
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Education Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
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* Based on Index of Industrial Production (2011 = 100) |
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(Source : Department of Statistics) |
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INDUSTRY ANALYSIS
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INDUSTRY : |
TRADING |
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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. |
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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. |
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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%. |
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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. |
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
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CREDIT RISK EVALUATION &
RECOMMENDATION
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PROFIT AND LOSS ACCOUNT
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THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
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KS ENERGY LIMITED |
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Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
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Months |
12 |
12 |
12 |
12 |
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Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
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Audited Account |
YES |
YES |
YES |
YES |
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Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
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Financial Type |
FULL |
FULL |
FULL |
FULL |
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Currency |
SGD |
SGD |
SGD |
SGD |
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Unit |
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TURNOVER |
698,129,000 |
492,738,000 |
509,493,000 |
646,517,000 |
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Other Income |
15,192,000 |
4,425,000 |
- |
- |
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---------------- |
---------------- |
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Total Turnover |
713,321,000 |
497,163,000 |
509,493,000 |
646,517,000 |
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Costs of Goods Sold |
<538,217,000> |
<366,329,000> |
- |
- |
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---------------- |
---------------- |
---------------- |
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Gross Profit |
175,104,000 |
130,834,000 |
- |
- |
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---------------- |
---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) FROM OPERATIONS |
13,118,000 |
<81,589,000> |
<87,607,000> |
57,345,000 |
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SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
- |
46,000 |
<198,000> |
53,000 |
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---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
13,118,000 |
<81,543,000> |
<87,805,000> |
57,398,000 |
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Taxation |
<8,013,000> |
<6,116,000> |
<8,007,000> |
<10,362,000> |
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---------------- |
---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
5,105,000 |
<87,659,000> |
<95,812,000> |
47,036,000 |
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Minority interests |
<3,816,000> |
8,902,000 |
<2,595,000> |
<6,995,000> |
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---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
1,289,000 |
<78,757,000> |
<98,407,000> |
40,041,000 |
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Extraordinary items |
- |
- |
28,000 |
- |
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---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
1,289,000 |
<78,757,000> |
<98,379,000> |
40,041,000 |
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RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
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As previously reported |
39,930,000 |
118,687,000 |
217,066,000 |
183,085,000 |
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---------------- |
---------------- |
---------------- |
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As restated |
39,930,000 |
118,687,000 |
217,066,000 |
183,085,000 |
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---------------- |
---------------- |
---------------- |
---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
41,219,000 |
39,930,000 |
118,687,000 |
223,126,000 |
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DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
<6,060,000> |
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---------------- |
---------------- |
---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) CARRIED FORWARD |
41,219,000 |
39,930,000 |
118,687,000 |
217,066,000 |
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============= |
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============= |
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INTEREST EXPENSE (as per notes to P&L) |
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Bank overdraft |
18,000 |
- |
- |
- |
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Bonds |
3,210,000 |
3,210,000 |
- |
- |
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Hire purchase |
- |
- |
<37,000> |
<71,000> |
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Lease interest |
27,000 |
34,000 |
- |
- |
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Term loan / Borrowing |
8,512,000 |
6,781,000 |
9,820,000 |
<10,199,000> |
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Others |
1,055,000 |
1,155,000 |
1,710,000 |
1,017,000 |
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12,822,000 |
11,180,000 |
11,493,000 |
<9,253,000> |
BALANCE SHEET
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KS ENERGY LIMITED |
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ASSETS EMPLOYED: |
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FIXED ASSETS |
389,018,000 |
415,698,000 |
362,205,000 |
434,797,000 |
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LONG TERM INVESTMENTS/OTHER ASSETS |
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Associated companies |
12,535,000 |
90,539,000 |
414,000 |
586,000 |
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Others |
38,675,000 |
306,000 |
99,799,000 |
93,613,000 |
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---------------- |
---------------- |
---------------- |
---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
51,210,000 |
90,845,000 |
100,213,000 |
94,199,000 |
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|
|
|
|
INTANGIBLE ASSETS |
|
|
|
|
|
Deferred/Expenditure carried forward |
- |
- |
27,980,000 |
45,532,000 |
|
Goodwill on consolidation |
14,157,000 |
14,317,000 |
- |
- |
|
Computer software |
506,000 |
841,000 |
- |
- |
|
Trademarks |
1,169,000 |
1,474,000 |
- |
- |
|
Others |
9,307,000 |
11,206,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
25,139,000 |
27,838,000 |
27,980,000 |
45,532,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
465,367,000 |
534,381,000 |
490,398,000 |
574,528,000 |
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Stocks |
134,758,000 |
120,219,000 |
156,330,000 |
168,528,000 |
|
Contract work-in-progress |
- |
- |
195,000 |
11,119,000 |
|
Trade debtors |
165,441,000 |
137,454,000 |
137,883,000 |
145,954,000 |
|
Other debtors, deposits & prepayments |
37,349,000 |
38,055,000 |
- |
- |
|
Short term deposits |
597,000 |
727,000 |
1,398,000 |
29,042,000 |
|
Amount due from related companies |
- |
8,000 |
- |
- |
|
Cash & bank balances |
60,087,000 |
57,883,000 |
33,654,000 |
56,022,000 |
|
Others |
73,110,000 |
30,500,000 |
85,274,000 |
37,592,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
471,342,000 |
384,846,000 |
414,734,000 |
448,257,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
936,709,000 |
919,227,000 |
905,132,000 |
1,022,785,000 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade creditors |
85,176,000 |
73,714,000 |
64,378,000 |
64,333,000 |
|
Other creditors & accruals |
35,435,000 |
40,865,000 |
46,581,000 |
40,682,000 |
|
Hire purchase & lease creditors |
130,000 |
225,000 |
- |
- |
|
Short term borrowings/Term loans |
110,026,000 |
82,599,000 |
- |
- |
|
Bill & acceptances payable |
25,267,000 |
10,532,000 |
- |
441,000 |
|
Other liabilities & accruals |
108,275,000 |
13,518,000 |
108,626,000 |
243,919,000 |
|
Amounts owing to associated companies |
- |
- |
- |
18,000 |
|
Provision for taxation |
13,653,000 |
7,921,000 |
10,927,000 |
13,976,000 |
|
Other liabilities |
- |
- |
5,687,000 |
4,979,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
377,962,000 |
229,374,000 |
236,199,000 |
368,348,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
93,380,000 |
155,472,000 |
178,535,000 |
79,909,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
558,747,000 |
689,853,000 |
668,933,000 |
654,437,000 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
319,077,000 |
319,077,000 |
319,066,000 |
228,962,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
319,077,000 |
319,077,000 |
319,066,000 |
228,962,000 |
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
Exchange equalisation/fluctuation reserve |
<65,506,000> |
<47,482,000> |
<54,932,000> |
<22,510,000> |
|
General reserve |
8,933,000 |
8,933,000 |
- |
- |
|
Retained profit/(loss) carried forward |
41,219,000 |
39,930,000 |
118,687,000 |
217,066,000 |
|
Others |
<34,510,000> |
<34,510,000> |
<24,929,000> |
<17,734,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
<49,864,000> |
<33,129,000> |
38,826,000 |
176,822,000 |
|
|
|
|
|
|
|
MINORITY INTEREST |
150,010,000 |
152,211,000 |
106,854,000 |
137,954,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
419,223,000 |
438,159,000 |
464,746,000 |
543,738,000 |
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
Long term loans |
130,060,000 |
139,224,000 |
- |
- |
|
Lease obligations |
25,000 |
105,000 |
- |
- |
|
Deferred taxation |
5,998,000 |
6,763,000 |
6,096,000 |
5,592,000 |
|
Others |
3,441,000 |
105,602,000 |
198,091,000 |
105,107,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
139,524,000 |
251,694,000 |
204,187,000 |
110,699,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
558,747,000 |
689,853,000 |
668,933,000 |
654,437,000 |
|
|
============= |
============= |
============= |
============= |
FINANCIAL RATIO
|
|
KS ENERGY LIMITED |
|
|
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
|
|
Cash |
60,684,000 |
58,610,000 |
35,052,000 |
85,064,000 |
|
Net Liquid Funds |
35,417,000 |
48,078,000 |
35,052,000 |
84,623,000 |
|
Net Liquid Assets |
<41,378,000> |
35,253,000 |
22,205,000 |
<88,619,000> |
|
Net Current Assets/(Liabilities) |
93,380,000 |
155,472,000 |
178,535,000 |
79,909,000 |
|
Net Tangible Assets |
533,608,000 |
662,015,000 |
640,953,000 |
608,905,000 |
|
Net Monetary Assets |
<180,902,000> |
<216,441,000> |
<181,982,000> |
<199,318,000> |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
Total Borrowings |
265,508,000 |
232,685,000 |
0 |
441,000 |
|
Total Liabilities |
517,486,000 |
481,068,000 |
440,386,000 |
479,047,000 |
|
Total Assets |
936,709,000 |
919,227,000 |
905,132,000 |
1,022,785,000 |
|
Net Assets |
558,747,000 |
689,853,000 |
668,933,000 |
654,437,000 |
|
Net Assets Backing |
419,223,000 |
438,159,000 |
464,746,000 |
543,738,000 |
|
Shareholders' Funds |
419,223,000 |
438,159,000 |
464,746,000 |
543,738,000 |
|
Total Share Capital |
319,077,000 |
319,077,000 |
319,066,000 |
228,962,000 |
|
Total Reserves |
<49,864,000> |
<33,129,000> |
38,826,000 |
176,822,000 |
|
LIQUIDITY (Times) |
|
|
|
|
|
Cash Ratio |
0.16 |
0.26 |
0.15 |
0.23 |
|
Liquid Ratio |
0.89 |
1.15 |
1.09 |
0.76 |
|
Current Ratio |
1.25 |
1.68 |
1.76 |
1.22 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock Ratio |
70 |
89 |
112 |
101 |
|
Debtors Ratio |
86 |
102 |
99 |
82 |
|
Creditors Ratio |
58 |
73 |
46 |
36 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
Gearing Ratio |
0.63 |
0.53 |
0.00 |
0.00 |
|
Liabilities Ratio |
1.23 |
1.10 |
0.95 |
0.88 |
|
Times Interest Earned Ratio |
2.02 |
<6.29> |
<6.64> |
<5.20> |
|
Assets Backing Ratio |
1.67 |
2.07 |
2.01 |
2.66 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
1.88 |
<16.55> |
<17.23> |
8.88 |
|
Net Profit Margin |
0.18 |
<15.98> |
<19.31> |
6.19 |
|
Return On Net Assets |
4.64 |
<10.20> |
<11.41> |
7.36 |
|
Return On Capital Employed |
3.53 |
<8.09> |
<9.49> |
5.75 |
|
Return On Shareholders' Funds/Equity |
0.31 |
<17.97> |
<21.17> |
7.36 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.15 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.