MIRA INFORM REPORT

 

 

Report Date :

04.01.2013

 

IDENTIFICATION DETAILS

 

Name :

LEGRAND (S) PTE LTD

 

 

Formerly Known As :

LT ELECTRICAL ACCESSORIES (S) PTE LTD

 

 

Registered Office :

15 Jalan Kilang Barat #07-05 Singapore 159357

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.05.1972

 

 

Com. Reg. No.:

197200606M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Electrical Household Appliances (Eg Refrigerators, Hot Plates, Toasters, Food Mixers, Cookers, Hair Dryers, Fans, Shavers)

 

 

No. of Employees :

Not Available

 

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

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:

LEGRAND (S) PTE LTD

197200606M

 

Date Incorporated:

Registered Office:

Telephone Number:

18/05/1972

15 JALAN KILANG BARAT #07-05 SINGAPORE 159357

68612234

Age of Company:

Website:

Industry Type:

40

www.legrand.com.sg

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

57

Better than last month;last month the entity took 103 days to pay

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

LEGRAND NEDERLAND B.V.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

LEGRAND (S) PTE LTD

Registration No

:

197200606M

Date of Registration

:

18/05/1972

Former Name

:

1.TENBY ELECTRICAL (PACIFIC) PTE LTD Eff. date : 14/08/1987 Eff. date : 14/08/1987

2.LT ELECTRICAL ACCESSORIES (S) PTE LTD Eff. date : 03/01/1994 Eff. date : 03/01/1994

Date of Change of Name

:

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.
 
 


31/01/1996

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

15 JALAN KILANG BARAT #07-05 SINGAPORE 159357

Date of Change of Address

:

03/04/2003

Contact No.

:

68612234

Fax No.

:

68624420

Website

:

www.legrand.com.sg

Registered Activities

:

1. MANUFACTURE OF ELECTRICAL HOUSEHOLD APPLIANCES (EG REFRIGERATORS, HOT PLATES, TOASTERS, FOOD MIXERS, COOKERS, HAIR DRYERS, FANS, SHAVERS)

2. MANUFACTURE OF ELECTRICAL MACHINERY, APPARATUS, APPLIANCES AND SUPPLIES (INCLUDING SOUND OR VISUAL SIGNALLING APPARATUS, ELECTRICAL INSULATORS EXCEPT PORCELAIN OR GLASS)

Issued Ordinary Capital*

:

$15,400,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 15,400,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$15,400,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 42,356,253.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 15,816,156.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

Compounded Annual Growth Rate (CAGR)

:

1.65% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

LEGRAND NEDERLAND B.V.

SHAREHOLDER ID

:

T06UF0270F

NATIONALITY

:

NETHERLANDS

ADDRESS

:

VAN SALMSTRAAT 76, 5281 RS BOXTEL THE NETHERLANDS

NO. OF ORD SHARES

:

15,400,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

FRANCK ROGER MICHEL LEMERY

ADDRESS

:

LE VERDIER 87170 ISLE FRANCE

POSITION

:

DIRECTOR

DATE OF APPT

:

27/03/2012

NATIONALITY

:

FRENCH

I/C PASSPORT

:

07AH27476

 

NAME

:

BATARD CHARLES-ERIC

ADDRESS

:

7A TANGLIN RISE TANGLIN HILL CONDOMINIUM SINGAPORE 247989

POSITION

:

DIRECTOR

DATE OF APPT

:

20/07/2012

NATIONALITY

:

FRENCH

I/C PASSPORT

:

G5309485L

 

NAME

:

LAURA NG KWEE HONG

ADDRESS

:

10 BROOKE ROAD #08-02 EAST VIEW SINGAPORE 429986

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1193635J

 

KEY PERSONNEL PROFILE

 

Name:

FRANCK ROGER MICHEL LEMERY

NRIC Number:

07AH27476

Available Address:

LE VERDIER 87170 ISLE FRANCE

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

LEGRAND (S) PTE LTD

DIRECTOR

27/03/2012

-

NA

2

LEGRAND CHINA HOLDING PTE LTD

DIRECTOR

27/03/2012

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

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

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

28/10/2011

Date of Last AR

:

04/11/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

COMPLIANCE RATING FOR ANNUAL FILING

 

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

 

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

42,356,253

23.74

34,228,852

55,669,826

48,659,646

39,673,054

Profit/(Loss) Before Tax

(962,797)

NA

916,550

1,333,758

3,143,133

1,405,966

Profit After Tax attributable

 to Shareholders

(962,797)

NA

765,550

1,115,828

2,787,063

1,405,966

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

29,642,578

27.24

23,296,863

29,565,234

38,294,134

31,308,111

Current Assets

29,552,810

27.59

23,162,934

29,309,000

37,919,946

30,768,117

Non Current Assets

89,768

-32.97

133,929

256,234

374,188

539,994

 

 

 

 

 

 

 

Total Liabilities

13,826,422

112.13

6,517,910

13,551,831

23,396,559

19,197,599

Current Liabilities

13,826,422

112.13

6,517,910

13,551,831

23,396,559

19,197,599

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

15,816,156

-5.74

16,778,953

16,013,403

14,897,575

12,110,512

Share Capital

15,400,000

0.00

15,400,000

15,400,000

15,400,000

15,400,000

Total Reserves

416,156

-69.82

1,378,953

613,403

(502,425)

(3,289,488)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

23.74

-38.51

14.41

22.65

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-2.27

2.24

2.00

5.73

3.54

Return on Equity (%)

-6.09

4.56

6.97

18.71

11.61

Return on Assets (%)

-3.25

3.29

3.77

7.28

4.49

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.87

0.39

0.85

1.57

1.59

Current Debt/Equity (Times)

0.87

0.39

0.85

1.57

1.59

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.87

1.39

1.85

2.57

2.59

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.43

1.47

1.88

1.27

1.27

Fixed Assets Turnover (Times)

471.84

255.57

217.26

130.04

73.47

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.14

3.55

2.16

1.62

1.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 1.65% (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

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 2.14 times in FY10 (FY09: 3.55 times). This means that the company has SINGAPORE, DOLLARS 2.14 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

FINANCIAL COMMENTARY

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

Leverage

Total debt-to-equity ratio notched 0.87 times in FY10, as compared with 0.39 times in FY09. 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

 

We are unable to comment on Subject's return on equity.

 

We are unable to comment on Subject's return on assets.

 

Total assets turnover ratio logged at 1.43 times in FY10 (FY09: 1.47 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.54.42

UK Pound

1

Rs.88.29

Euro

1

Rs.71.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)