MIRA INFORM REPORT

 

 

Report Date :

09.01.2013

 

IDENTIFICATION DETAILS

 

Name :

DEXERIALS SINGAPORE PTE. LTD.

 

 

Formerly Known As :

SONY CHEMICALS SINGAPORE PTE LTD. Eff. date : 22/05/1990 Eff. date : 22/05/1990

 

 

Registered Office :

3a International Business Park #08-03 Icon@Ibp Singapore 609935

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

22.05.1990

 

 

Com. Reg. No.:

199002425N

 

 

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

(31.03.2012)

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:

DEXERIALS SINGAPORE PTE. LTD.

199002425N

 

Date Incorporated:

Registered Office:

Telephone Number:

22/05/1990

3A INTERNATIONAL BUSINESS PARK #08-03 ICON@IBP SINGAPORE 609935

6836 1181

Age of Company:

Website:

Industry Type:

23

NA

MANUFACTURING

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

NA

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

DEXERIALS CORPORATION

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

DEXERIALS SINGAPORE PTE. LTD.

Registration No

:

199002425N

Date of Registration

:

22/05/1990

Former Name

:

SONY CHEMICALS SINGAPORE PTE LTD. Eff. date : 22/05/1990 Eff. date : 22/05/1990

Date of Change of Name

:

28/09/2012

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

3A INTERNATIONAL BUSINESS PARK #08-03 ICON@IBP SINGAPORE 609935

Date of Change of Address

:

28/09/2012

Contact No.

:

6836 1181

Fax No.

:

6836 1171

Website

:

NA

Registered Activities

:

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

2. MANUFACTURE OF PLASTIC SHEET, FILM AND ARTICLES THEREOF (EG POLYTHENE AND POLYPROPYLENE BAGS)

Issued Ordinary Capital*

:

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

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$15,000,000.00 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

:

SINGAPORE, DOLLARS 0.00 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 27,645,329.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

854 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2000/2001)

897 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (1999/2000)

815 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (1997/1998)

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

DEXERIALS CORPORATION

SHAREHOLDER ID

:

T07UF0130L

NATIONALITY

:

NA

ADDRESS

:

GATE CITY OSAKI EAST TOWER 8F 11-2, OSAKI 1-CHOME, SHINAGAWA-KU, TOKYO, JAPAN

NO. OF ORD SHARES

:

15,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

LEE HOW CHOON

ADDRESS

:

50J FABER HEIGHTS #04-66 FABER CREST SINGAPORE 129203

POSITION

:

DIRECTOR

DATE OF APPT

:

27/09/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1386017C

 

NAME

:

CHANG AI LING

ADDRESS

:

50 CHOA CHU KANG NORTH 7 #09-16 REGENT GROVE SINGAPORE 689527

POSITION

:

SECRETARY

DATE OF APPT

:

27/09/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6838750G

 

NAME

:

NAOYUKI SANADA

ADDRESS

:

HEBEL MAISON KAMITAKADA 301 1-1-41 KAMITAKADA, NAKANO-KU, TOKYO 164-0002, JAPAN

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/08/2012

01/08/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TH8956011

 

 

KEY PERSONNEL PROFILE

 

Name:

NAOYUKI SANADA

NRIC Number:

TH8956011

Available Address:

HEBEL MAISON KAMITAKADA 301 1-1-41 KAMITAKADA, NAKANO-KU, TOKYO 164-0002, JAPAN

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

DEXERIALS SINGAPORE PTE. LTD.

DIRECTOR

01/08/2012

-

NA

2

DEXERIALS SINGAPORE PTE. LTD.

MANAGING DIRECTOR

01/08/2012

-

NA

 

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. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

 

To date, there have been 1 litigation suits 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.

:

5342

 

Transfer

:

-

 

Date of Filing

:

04/05/2000

 

Amount

:

10,412.97

 

Cause

:

CONTRACTS-WORK DONE & SERVICES RENDERED

 

Case Status

:

PENDING

 

Plaintiff

:

COHESIVE SHIPING PTE LTD

 

Last Update Date in DP Info Database

:

17/05/2000

 

 

COMPLIANCE

 

Date of Last AGM

:

27/09/2012

Date of Last AR

:

19/10/2012

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).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

0

-100.00

2,775,770

38,522,486

46,527,226

69,985,239

Profit/(Loss) Before Tax

(22,443)

NA

(1,217,637)

(5,033,876)

1,976,304

1,857,095

Profit After Tax attributable

 to Shareholders

(11,218)

NA

(1,213,526)

(5,171,072)

1,785,130

1,531,814

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

27,666,614

-0.13

27,702,439

34,136,464

37,784,880

41,707,930

Current Assets

24,844,955

-0.14

24,880,780

30,891,787

29,163,827

33,028,927

Non Current Assets

2,821,659

0.00

2,821,659

3,244,677

8,621,053

8,679,003

 

 

 

 

 

 

 

Total Liabilities

21,285

-53.62

45,892

5,266,391

3,743,735

9,451,915

Current Liabilities

21,285

-53.62

45,892

5,265,151

3,724,029

9,424,299

Non Current Liabilities

0

NA

0

1,240

19,706

27,616

 

 

 

 

 

 

 

Shareholders' Funds

27,645,329

-0.04

27,656,547

28,870,073

34,041,145

32,256,015

Share Capital

15,000,000

0.00

15,000,000

15,000,000

15,000,000

15,000,000

Total Reserves

12,645,329

-0.09

12,656,547

13,870,073

19,041,145

17,256,015

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-100.00

-92.79

-17.20

-33.52

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.00

-43.72

-13.42

3.84

2.19

Return on Equity (%)

-0.04

-4.39

-17.91

5.24

4.75

Return on Assets (%)

-0.04

-4.38

-15.15

4.72

3.67

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.00

0.00

0.18

0.11

0.29

Current Debt/Equity (Times)

0.00

0.00

0.18

0.11

0.29

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.00

1.00

1.18

1.11

1.29

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.00

0.10

1.13

1.23

1.68

Fixed Assets Turnover (Times)

0.00

0.98

11.87

5.40

8.06

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1,167.25

542.16

5.87

7.83

3.50

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

Liquidity

Current ratio stood at 1,167.25 times in FY12 (FY11: 542.16 times). This means that the company has SINGAPORE, DOLLARS 1,167.25 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.

 

Leverage

Total debt-to-equity ratio notched 0.00 times in FY12, compared with 0.00 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.00 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.

 

We are unable to comment on Subject's total assets turnover ratio.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.33

UK Pound

1

Rs.89.05

Euro

1

Rs.72.57

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.