MIRA INFORM REPORT

 

 

Report Date :

06.02.2013

 

IDENTIFICATION DETAILS

 

Name :

Nagase Singapore (Pte) Ltd.

 

 

Registered Office :

600 North Bridge Road #11-01 Parkview Square 188778

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

03.04.1975

 

 

Com. Reg. No.:

197500537W

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Polymers, Chemicals, Electronic, Medical Supplies etc.

 

 

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 :

Good

 

 

Payment Behaviour :

No Complaints

 

 

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

(31.03.2011)

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:

NAGASE SINGAPORE (PTE) LTD.

197500537W

 

Date Incorporated:

Registered Office:

Telephone Number:

03/04/1975

600 NORTH BRIDGE ROAD #11-01 PARKVIEW SQUARE SINGAPORE 188778

6398 0011

Age of Company:

Website:

Industry Type:

38

www.e-nagase.com

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

8

 

 

Payment pattern as per previous month

No. of Charges(s):
0

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

NAGASE & CO LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

NAGASE SINGAPORE (PTE) LTD.

Registration No

:

197500537W

Date of Registration

:

03/04/1975

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

600 NORTH BRIDGE ROAD #11-01 PARKVIEW SQUARE SINGAPORE 188778

Date of Change of Address

:

14/06/2010

Contact No.

:

6398 0011

Fax No.

:

6398 0227

Website

:

www.e-nagase.com

Registered Activities

:

MANUFACTURE OF POLYMERS

TRDG & MANUF OF POLYMERS,CHEMICALS, ELECTRONIC, MEDICAL SUPPLIES ETC

Issued Ordinary Capital*

:

$2,700,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 2,700,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$2,700,000.00 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

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 418,206,207.53 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 54,120,432.99 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

859 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

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

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

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

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

NAGASE & CO LTD

SHAREHOLDER ID

:

S75UF0106A

NATIONALITY

:

JAPAN

ADDRESS

:

5-1 NIHONBASHI-KOBUNACHO, CHUO-KU TOKYO 1038355 JAPAN

NO. OF ORD SHARES

:

2,700,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ICHIRO WAKABAYASHI

ADDRESS

:

11 ORCHARD TURN #10-04 SINGAPORE 238800

POSITION

:

DIRECTOR

DATE OF APPT

:

24/06/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5112000R

 

NAME

:

KUSUO OTA

ADDRESS

:

1 KIM SENG WALK #24-08 SINGAPORE 239403

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

23/04/2007

23/04/2007

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5955507W

 

NAME

:

ONG GIM SENG

ADDRESS

:

552 BEDOK NORTH AVENUE 1 #07-486 SINGAPORE 460552

POSITION

:

SECRETARY

DATE OF APPT

:

24/02/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1582667C

 

NAME

:

KAZUO NAGASHIMA

ADDRESS

:

3004-25 NONOGAYA-MACHI MACHIDA-CITY, TOKYO, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

30/06/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH4580500

 

NAME

:

TAKANORI YAMAUCHI

ADDRESS

:

810, 3-1 OGURADAIL-CHOME INZAI CITY, CHIBA, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

05/07/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH5996353

 

 

KEY PERSONNEL PROFILE

 

Name:

KUSUO OTA

NRIC Number:

G5955507W

Available Address:

1 KIM SENG WALK #24-08  SINGAPORE 239403

 

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

NAGASE FINECHEM SINGAPORE (PTE) LTD.

DIRECTOR

01/06/2007

-

NA

2

NAGASE SINGAPORE (PTE) LTD.

DIRECTOR

23/04/2007

-

NA

3

NAGASE SINGAPORE (PTE) LTD.

MANAGING DIRECTOR

23/04/2007

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CHANG FONG OVERSEAS ENTERPRISES (PRIVATE) LIMITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

15/05/2007

-

 

 

 

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

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

1762

 

Transfer

:

-

 

Date of Filing

:

05/10/1998

 

Amount

:

0.00

 

Cause

:

Intellectual Property - Copyright

 

Case Status

:

CONCLUDED

 

Plaintiff

:

INSTITUT PASTEUR

PASTEUR SANOFI DIAGNOSTICS

 

 

COMPLIANCE

 

Date of Last AGM

:

25/06/2012

Date of Last AR

:

27/07/2012

Date of A/C Laid At Last AGM

:

31/03/2012

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

Description: wImage224

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

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

 

MAR 2012

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SINGAPORE, DOLLARS

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

418,206,208

340,558,332

351,027,212

441,421,718

451,044,005

Profit/(Loss) Before Tax

1,382,141

4,447,969

5,248,921

6,445,708

8,894,298

Profit After Tax attributable

 to Shareholders

1,442,785

3,646,488

4,324,911

5,264,722

7,196,341

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

101,298,650

103,488,645

120,031,864

121,771,501

126,719,551

Current Assets

100,066,614

102,009,278

119,143,086

120,585,371

125,390,302

Non Current Assets

1,232,036

1,479,367

888,778

1,186,130

1,329,249

 

 

 

 

 

 

Total Liabilities

47,178,217

38,418,218

52,185,169

57,545,059

60,330,135

Current Liabilities

47,178,217

38,418,218

52,185,169

57,545,059

60,330,135

Non Current Liabilities

0

0

0

0

0

 

 

 

 

 

 

Shareholders' Funds

54,120,433

65,070,427

67,846,694

64,226,442

66,389,416

Share Capital

2,175,483

2,366,337

2,530,469

2,453,678

2,613,043

Total Reserves

51,944,950

62,704,090

65,316,225

61,772,764

63,776,373

 

 

FINANCIAL RATIOS

 

 

Company

 

MAR 2012

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

-2.98

-20.48

-2.13

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.34

1.07

1.23

1.19

1.60

Return on Equity (%)

2.67

5.60

6.37

8.20

10.84

Return on Assets (%)

1.42

3.52

3.60

4.32

5.68

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.87

0.59

0.77

0.90

0.91

Current Debt/Equity (Times)

0.87

0.59

0.77

0.90

0.91

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.87

1.59

1.77

1.90

1.91

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.13

3.29

2.92

3.63

3.56

Fixed Assets Turnover (Times)

339.44

230.21

394.95

372.15

339.32

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.12

2.66

2.28

2.10

2.08

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.34 per cent in FY12. The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 2.12 times in FY12. This means that the company has SINGAPORE, DOLLARS 2.12 of current assets for every SINGAPORE, DOLLARS 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 0.87 times in FY12. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.87 for every SINGAPORE, DOLLARS 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 2.67 per cent for Subject in the current financial period. 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 1.42 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 4.13 times in FY12. 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.53.29

UK Pound

1

Rs.83.97

Euro

1

Rs.71.88

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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.