MIRA INFORM REPORT

 

 

Report Date :

04.02.2013

 

IDENTIFICATION DETAILS

 

Name :

KAWARIN ENTERPRISE PTE LTD.

 

 

Registered Office :

144 Gul Circle Singapore 629603

 

 

Country :

Singapore

 

 

Financials (as on) :

December 2011

 

 

Date of Incorporation :

21.04.1975

 

 

Com. Reg. No.:

197500631G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Other Tinplate and Zinc Articles (Eg Pails, Buckets, Dustbins)

Fabrication of Steel Products, Import & Export of Steel & Other Metal Products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Exists

 

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:

KAWARIN ENTERPRISE PTE LTD.

197500631G

 

Date Incorporated:

Registered Office:

Telephone Number:

21/04/1975

144 GUL CIRCLE SINGAPORE 629603

6861 5508

Age of Company:

Website:

Industry Type:

38

www.kawarin.com.sg

MANUFACTURING

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

27

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

45

 

Directors

 

Corporate Structure

Number of Current Directors

7

Holding Company:

JACKRIN INVESTMENTS PTE LTD

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

KAWARIN ENTERPRISE PTE LTD.

Registration No

:

197500631G

Date of Registration

:

21/04/1975

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

144 GUL CIRCLE SINGAPORE 629603

Date of Change of Address

:

01/10/1998

Contact No.

:

6861 5508

Fax No.

:

6861 3141

Website

:

www.kawarin.com.sg

Registered Activities

:

1. MANUFACTURE OF OTHER TINPLATE AND ZINC ARTICLES (EG PAILS, BUCKETS, DUSTBINS)

FABRICATION OF STEEL PRODUCTS, IMPORT & EXPORT OF STEEL & OTHER METAL PRODUCTS

2. ELECTROPLATING AND PLATING OF METALS AND FORMED PRODUCTS

Issued Ordinary Capital*

:

$10,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$10,000,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

BAKER TILLY TFW LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 111,124,877.00 (FY2011)

Net Worth

:

SGD - SIN 29,269,430.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

1595 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1665 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

1137 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

1055 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

1036 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

JACKRIN INVESTMENTS PTE LTD

SHAREHOLDER ID

:

198202451K

NATIONALITY

:

SINGAPORE

ADDRESS

:

144 GUL CIRCLE SINGAPORE 629603

NO. OF ORD SHARES

:

51,000

% OF SHAREHOLDING

:

51%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

JFE SHOJI TRADE CORPORATION

SHAREHOLDER ID

:

T03UF1501D

NATIONALITY

:

JAPAN

ADDRESS

:

2-7-, OTEMACHI, CHIYODA-KU, TOKYO 100-8070, JAPAN

NO. OF ORD SHARES

:

45,812

% OF SHAREHOLDING

:

45.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

JFE ELECTRICAL STEEL CO.,LTD

SHAREHOLDER ID

:

T05UF0321G

NATIONALITY

:

JAPAN

ADDRESS

:

6-20,DOJIMA 1-CHOME,KITA-KU,OSAKA 530-0003,JAPAN

NO. OF ORD SHARES

:

3,188

% OF SHAREHOLDING

:

3.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

SADAYUKI IWAMOTO

ADDRESS

:

30-857, 2-CHOME, AMANUMA-CHO, OMIYA-KU, SAITAMA CITY, SAITAMA PREFECTURE, JAPAN 330-0834

POSITION

:

DIRECTOR

DATE OF APPT

:

31/03/2008

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MR8186985

 

NAME

:

LIM BOON CHENG ROBIN

ADDRESS

:

121 BUKIT BATOK CENTRAL #16-439 SINGAPORE 650121

POSITION

:

SECRETARY

DATE OF APPT

:

01/08/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1249098D

 

NAME

:

RIN CHEN SU TSEN, MDM

ADDRESS

:

109 GALLOP PARK ROAD GALLOP VILLAS SINGAPORE 259002

POSITION

:

DIRECTOR

DATE OF APPT

:

14/07/1975

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2165267I

 

NAME

:

LIN SHEN -SHAN

ADDRESS

:

166 WATTEN ESTATE ROAD WATTEN ESTATE SINGAPORE 287613

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

12/10/1984

12/10/1984

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2223383A

 

NAME

:

CHUN-I CHEN Y PANSAN

ADDRESS

:

20 BALMORAL PARK #01-08 BALMORAL, THE SINGAPORE 259849

POSITION

:

DIRECTOR

DATE OF APPT

:

15/03/1982

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2590585G

 

NAME

:

LIN LI HAO

ADDRESS

:

17B HILLCREST ROAD HILLCREST VILLA SINGAPORE 286772

POSITION

:

DIRECTOR

DATE OF APPT

:

01/06/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7370094I

 

NAME

:

ISHIZAKI KOICHI

ADDRESS

:

#406, 13-13 SHIMORENNJAKU 7-CHOME, MITAKA CITY TOKYO, JAPAN 181-0013

POSITION

:

DIRECTOR

DATE OF APPT

:

04/08/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH1823385

 

 

OFFICER DETAILS

 

NAME

:

SHIINO KAZUHIRO

ADDRESS

:

26-6 SHIROMIDAI KASAOKA-CITY OKAYAMA PREFECTURE JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

11/04/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TZ0556031

 

 

KEY PERSONNEL PROFILE

 

Name:

LIN SHEN -SHAN

NRIC Number:

S2223383A

Available Address:

166 WATTEN ESTATE ROAD WATTEN ESTATE  SINGAPORE 287613

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

JACKRIN INVESTMENTS PTE LTD

DIRECTOR

24/09/1982

-

NA

2

JACKRIN INVESTMENTS PTE LTD

MANAGING DIRECTOR

28/03/2001

-

NA

3

JACKRIN INVESTMENTS PTE LTD

DIRECTOR

-

500000

33.33

4

JACKRIN INVESTMENTS PTE LTD

MANAGING DIRECTOR

-

500000

33.33

5

KAWARIN ENTERPRISE PTE LTD.

DIRECTOR

12/10/1984

-

NA

6

KAWARIN ENTERPRISE PTE LTD.

MANAGING DIRECTOR

12/10/1984

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CHIHSING PTE LTD

STRUCK OFF

DIRECTOR

03/10/1992

-

 

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 (%)

 

NA

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

             

 

 

 

 

 

 

LITIGATION

 

To date, there has been 1 litigation suit filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

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.

:

13829

 

Transfer

:

-

 

Date of Filing

:

02/06/2011

 

Amount

:

20,000.00

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

LIM ENG HOE

 

Last Update Date

:

03/06/2011

 

 

COMPLIANCE

 

Date of Last AGM

:

31/08/2012

Date of Last AR

:

21/09/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

111,124,877

-7.23

119,785,466

104,651,975

142,056,440

129,557,047

Profit/(Loss) Before Tax

831,864

-75.71

3,425,197

1,911,627

6,380,982

2,386,171

Profit After Tax attributable

 to Shareholders

582,283

-81.57

3,159,215

1,546,552

5,182,982

2,255,269

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

52,412,120

-0.12

52,475,487

45,240,695

63,982,228

54,641,220

Current Assets

46,684,865

0.24

46,570,844

39,038,782

57,108,516

47,366,399

Non Current Assets

5,727,255

-3.00

5,904,643

6,201,913

6,873,712

7,274,821

 

 

 

 

 

 

 

Total Liabilities

23,142,690

1.55

22,788,340

16,512,763

35,600,848

30,642,822

Current Liabilities

22,862,690

1.57

22,508,340

16,193,887

35,320,848

30,530,822

Non Current Liabilities

280,000

0.00

280,000

318,876

280,000

112,000

 

 

 

 

 

 

 

Shareholders' Funds

29,269,430

-1.41

29,687,147

28,727,932

28,381,380

23,998,398

Share Capital

10,000,000

0.00

10,000,000

10,000,000

10,000,000

10,000,000

Total Reserves

19,269,430

-2.12

19,687,147

18,727,932

18,381,380

13,998,398

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-7.23

14.46

-26.33

9.65

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.52

2.64

1.48

3.65

1.74

Return on Equity (%)

1.99

10.64

5.38

18.26

9.40

Return on Assets (%)

1.11

6.02

3.42

8.10

4.13

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.79

0.77

0.57

1.25

1.28

Current Debt/Equity (Times)

0.78

0.76

0.56

1.24

1.27

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.01

0.00

Total Asset To Total Equity (Times)

1.79

1.77

1.57

2.25

2.28

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.12

2.28

2.31

2.22

2.37

Fixed Assets Turnover (Times)

19.40

20.29

16.87

20.67

17.81

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.04

2.07

2.41

1.62

1.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

The company yielded a rate of net profit on sales of 0.52 per cent in FY11 (FY10: 2.64 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.03 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.04 times in FY11 (FY10: 2.07 times). This means that the company has SGD - SIN 2.04 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.

 

FINANCIAL COMMENTARY

 

 

Leverage

Total debt-to-equity ratio notched 0.79 times in FY11, as compared with 0.77 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.79 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 1.99 per cent for Subject in the current financial period, as compared to 10.64 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 1.11 per cent (FY10: 6.02 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 2.12 times in FY11 (FY10: 2.28 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.53.32

UK Pound

1

Rs.84.59

Euro

1

Rs.72.62

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.