MIRA INFORM REPORT

 

 

Report Date :

16.02.2013

 

IDENTIFICATION DETAILS

 

Name :

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

 

 

Formerly Known as:

TOYOTA TSUSHO (SINGAPORE) PTE LTD Eff. date : 01/07/1987 Eff. date : 01/07/1987

 

 

Registered Office :

600 NORTH BRIDGE ROAD #19-01 PARKVIEW SQUARE SINGAPORE 188778

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

03.07.1975

 

 

Reg. No.:

197501152G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

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 :

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:

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

197501152G

 

Date Incorporated:

Registered Office:

Telephone Number:

03/07/1975

600 NORTH BRIDGE ROAD #19-01 PARKVIEW SQUARE SINGAPORE 188778

6222 3711

Age of Company:

Website:

Industry Type:

37

www.toyotsu.com.sg

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

3

30

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

TOYOTA TSUSHO CORPORATION (FORMERLY KNOWN AS TOYOTA TSUSHO KAISHA LTD)

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

Company Name

 

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

Registration No

:

197501152G

Date of Registration

:

03/07/1975

Former Name

:

1.TOYODA (SINGAPORE) PTE. LTD. Eff. date : 03/07/1975 Eff. date : 03/07/1975

2.TOYOTA TSUSHO (SINGAPORE) PTE LTD Eff. date : 01/07/1987 Eff. date : 01/07/1987

Date of Change of Name

:

01/07/2012

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

600 NORTH BRIDGE ROAD #19-01 PARKVIEW SQUARE SINGAPORE 188778

Date of Change of Address

:

27/09/2004

Contact No.

:

6222 3711

Fax No.

:

6222 5674

Website

:

www.toyotsu.com.sg

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

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

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$2,000,000.00 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

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 2,815,018,741.00 (FY2012)

Net Worth

:

SGD - SIN 109,967,745.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

3

S1000 / SME 1000 / FG50 Ranking

:

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

803 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

652 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

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

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

Compounded Annual Growth Rate (CAGR)

:

4.02% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

TOYOTA TSUSHO CORPORATION (FORMERLY KNOWN AS TOYOTA TSUSHO KAISHA LTD)

SHAREHOLDER ID

:

S75UF0118J

NATIONALITY

:

JAPAN

ADDRESS

:

7-23, MEIEKI 4-CHOME NAKAMURA-KU NAGOYA 450-8575 JAPAN

NO. OF ORD SHARES

:

2,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

YASUHIRO KAKIHARA

ADDRESS

:

8 ALEXANDRA VIEW #44-06 METROPOLITAN CONDOMINIUM SINGAPORE 158747

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2010

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F1908467K

 

NAME

:

TETSUYA KANESAKI

ADDRESS

:

42 KIM YAM ROAD #22-03 OLEANAS RESIDENCE SINGAPORE 239347

POSITION

:

DIRECTOR

DATE OF APPT

:

02/07/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F5509728M

 

NAME

:

AKIRA MORIHATA

ADDRESS

:

370H ALEXANDRA ROAD #16-01 ANCHORAGE CONDOMINIUM, THE SINGAPORE 159961

POSITION

:

DIRECTOR

DATE OF APPT

:

10/04/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5263560N

 

NAME

:

JUN NAKAYAMA

ADDRESS

:

6 CUSCADEN WALK #28-01 BOULEVARD RESIDENCE, THE SINGAPORE 249691

POSITION

:

DIRECTOR

DATE OF APPT

:

02/07/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5299804U

 

NAME

:

SATOSHI SASE

ADDRESS

:

5 RHU CROSS #06-03 COSTA RHU SINGAPORE 437434

POSITION

:

DIRECTOR

DATE OF APPT

:

01/04/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5586608U

 

NAME

:

YASUHIKO YOKOI

ADDRESS

:

3-9-1, SAKURAGAOKA TAMA TOKYO 206-0013, JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

02/07/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

MS7310344

 

NAME

:

LOW SIEW TIAN

ADDRESS

:

453 TAMPINES STREET 42 #11-204 SINGAPORE 520453

POSITION

:

SECRETARY

DATE OF APPT

:

15/09/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S6963151G

 

NAME

:

CHAN LAI YIN

ADDRESS

:

26 SIMEI STREET 1 #11-08 MELVILLE PARK SINGAPORE 529947

POSITION

:

SECRETARY

DATE OF APPT

:

30/07/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7480587F

 

 

KEY PERSONNEL PROFILE

 

Name:

YASUHIRO KAKIHARA

NRIC Number:

F1908467K

Available Address:

8 ALEXANDRA VIEW #44-06 METROPOLITAN CONDOMINIUM  SINGAPORE 158747

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

SIN HENG HEAVY MACHINERY LIMITED

DIRECTOR

01/11/2012

-

-

2

TOMEN POWER (SINGAPORE) PTE LTD

DIRECTOR

07/05/2010

-

-

3

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

DIRECTOR

01/04/2010

-

-

4

TOYOTA TSUSHO ASIA PACIFIC PTE. LTD.

MANAGING DIRECTOR

01/04/2010

-

-

5

TOYOTA TSUSHO PETROLEUM PTE. LTD.

DIRECTOR

21/04/2010

-

-

6

TOYOTA TSUSHO RE SINGAPORE PTE. LTD.

DIRECTOR

23/04/2010

-

-

7

TT NETWORK INTEGRATION ASIA PTE. LTD.

DIRECTOR

01/04/2010

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

 

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

 

The following litigation suits were traced against Subject.

 

To date, there have been 3  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

2

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

:

Magistrate Court

 

Case No.

:

27006

 

Transfer

:

-

 

Date of Filing

:

02/09/2009

 

Amount

:

7,937.90

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

HENG YEW LAI JACKSON

 

Last Update Date in DP Info Database

:

03/09/2009

 

2)

Court

:

Magistrate Court

 

Case No.

:

19905

 

Transfer

:

-

 

Date of Filing

:

30/06/2009

 

Amount

:

20,710.00

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

TAY SIEW LAY

 

Last Update Date in DP Info Database

:

01/07/2009

3)

Court

:

Supreme Court

 

Case No.

:

2113

 

Transfer

:

-

 

Date of Filing

:

24/11/1990

 

Amount

:

326,000.00

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

WINDMILL INTERNATIONAL PTE LTD.

 

Last Update Date in DP Info Database

:

06/09/2006

 

 

COMPLIANCE

 

Date of Last AGM

:

02/07/2012

Date of Last AR

:

30/07/2012

Date of A/C Laid At Last AGM

:

31/03/2012

 

 

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

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

2,815,018,741

-2.43

2,885,239,068

2,226,065,858

2,268,672,627

2,404,333,849

Profit/(Loss) Before Tax

33,709,507

-8.34

36,777,547

36,704,056

32,101,684

34,656,614

Profit After Tax attributable

 to Shareholders

29,362,375

-6.60

31,437,626

32,780,640

28,717,388

30,273,157

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

527,799,609

8.05

488,468,956

454,965,258

320,227,179

383,445,345

Current Assets

506,186,158

5.10

481,618,097

448,177,223

316,847,627

380,297,087

Non Current Assets

21,613,451

215.49

6,850,859

6,788,035

3,379,552

3,148,258

 

 

 

 

 

 

 

Total Liabilities

417,831,864

7.91

387,203,526

349,424,868

246,084,502

326,162,824

Current Liabilities

415,690,541

7.40

387,036,974

349,371,623

246,076,346

326,144,649

Non Current Liabilities

2,141,323

1,185.68

166,552

53,245

8,156

18,175

 

 

 

 

 

 

 

Shareholders' Funds

109,967,745

8.59

101,265,429

105,540,391

74,142,676

57,282,521

Share Capital

1,514,932

-5.80

1,608,177

1,725,814

1,746,653

1,780,711

Total Reserves

108,452,813

8.83

99,657,252

103,814,577

72,396,023

55,501,810

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-2.43

29.61

-1.88

-5.64

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.04

1.09

1.47

1.27

1.26

Return on Equity (%)

26.70

31.04

31.06

38.73

52.85

Return on Assets (%)

5.56

6.44

7.21

8.97

7.90

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.80

3.82

3.31

3.32

5.69

Current Debt/Equity (Times)

3.78

3.82

3.31

3.32

5.69

Long Term Debt To Equity (Times)

0.02

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

4.80

4.82

4.31

4.32

6.69

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

5.33

5.91

4.89

7.08

6.27

Fixed Assets Turnover (Times)

130.24

421.15

327.94

671.29

763.70

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.22

1.24

1.28

1.29

1.17

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 4.02% (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 1.04 per cent in FY12 (FY11: 1.09 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.01 a year ago.

 

Liquidity

Current ratio stood at 1.22 times in FY12 (FY11: 1.24 times). This means that the company has SGD - SIN 1.22 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 3.80 times in FY12, compared with 3.82 times in FY11. This means that the company requires additional external financing of SGD - SIN 3.80 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 26.70 per cent for Subject in the current financial period, as compared to 31.04 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 5.56 per cent (FY11: 6.44 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 5.33 times in FY12 (FY11: 5.91 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.54.39

UK Pound

1

Rs.87.78

Euro

1

Rs.71.29

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.