MIRA INFORM REPORT

 

 

Report Date :

21.01.2013

 

IDENTIFICATION DETAILS

 

Name :

Pentax Medical Singapore Pte LTd.

 

 

Registered Office :

438A Alexandra Road, #08-06 Alexandra Technopark 119967

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

03.03.2008

 

 

Com. Reg. No.:

200804213G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesalers of Medical, Professional Scientific and Precision Equipment

 

 

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:

PENTAX MEDICAL SINGAPORE PTE. LTD.

200804213G

 

Date Incorporated:

Registered Office:

Telephone Number:

03/03/2008

438A ALEXANDRA ROAD #08-06 ALEXANDRA TECHNOPARK SINGAPORE 119967

NA

Age of Company:

Website:

Industry Type:

5

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

6

NA

Worse off than last month;last month the entity took 0 days to pay

No. of Charges(s):
0

Industry DTC

 

25

 

 

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

HOYA CORPORATION

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

EXECUTIVE SUMMARY

 

Company Name

:

PENTAX MEDICAL SINGAPORE PTE. LTD.

Registration No

:

200804213G

Date of Registration

:

03/03/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

438A ALEXANDRA ROAD #08-06 ALEXANDRA TECHNOPARK SINGAPORE 119967

Date of Change of Address

:

25/05/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

WHOLESALE OF MEDICAL, PROFESSIONAL, SCIENTIFIC AND PRECISION EQUIPMENT

TRADING, MARKETING AND SERVICING PENTAX AND OTHER MEDICAL PRODUCTS.

Issued Ordinary Capital*

:

$150,000,000.00 JAPAN, YEN ,NO. OF SHARE : 1,500,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$150,000,000.00 JAPAN, YEN

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

:

RSM CHIO LIM LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 55,954,266.00 (FY2012)

Net Worth

:

SGD - SIN 9,147,879.00 (FY2012)

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)

:

60.87% (3 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

HOYA CORPORATION

SHAREHOLDER ID

:

T01UF0009E

NATIONALITY

:

JAPAN

ADDRESS

:

2-7-5 NAKA-OCHIAI SHINJI-KU TOKYO 161-8525

NO. OF ORD SHARES

:

1,500,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

JAPAN, YEN

 

 

OFFICER DETAILS

 

NAME

:

CHRISTOPHER NORMAN JAPP

ADDRESS

:

757 VINCI WAY, LIVERMORE, CALIFORNIA 94550 USA

POSITION

:

DIRECTOR

DATE OF APPT

:

18/09/2010

NATIONALITY

:

CANADIAN

I/C PASSPORT

:

BA170233

 

NAME

:

KWAN THOMAS THIEU

ADDRESS

:

438A ALEXANDRA ROAD #08-06 ALEXANDRA TECHNOPARK SINGAPORE 119967

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

18/09/2010

02/04/2012

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5315899X

 

NAME

:

LI MENGHUA

ADDRESS

:

438A ALEXANDRA ROAD #08-06 ALEXANDRA TECHNOPARK SINGAPORE 119967

POSITION

:

DIRECTOR

DATE OF APPT

:

02/04/2012

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G5317670X

 

NAME

:

TAN CHENG SIEW @ NUR FARAH TAN

ADDRESS

:

97 BEDOK NORTH AVENUE 4 #20-1513 SINGAPORE 460097

POSITION

:

SECRETARY

DATE OF APPT

:

03/03/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6920790A

 

 

KEY PERSONNEL PROFILE

 

Name:

KWAN THOMAS THIEU

NRIC Number:

G5315899X

Available Address:

438A ALEXANDRA ROAD #08-06 ALEXANDRA TECHNOPARK  SINGAPORE 119967

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

PENTAX MEDICAL SINGAPORE PTE. LTD.

DIRECTOR

18/09/2010

-

NA

2

PENTAX MEDICAL SINGAPORE PTE. LTD.

MANAGING DIRECTOR

02/04/2012

-

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

:

19/06/2012

Date of Last AR

:

05/07/2012

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).

 

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

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

55,954,266

156.02

21,855,836

14,958,467

13,441,237

Profit/(Loss) Before Tax

6,838,664

153.89

2,693,560

2,085,260

635,981

Profit After Tax attributable

 to Shareholders

5,709,852

140.99

2,369,359

1,755,309

494,791

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

21,800,856

95.33

11,161,223

6,583,880

6,096,848

Current Assets

20,738,566

96.78

10,538,945

6,172,780

5,596,084

Non Current Assets

1,062,290

70.71

622,278

411,100

500,764

 

 

 

 

 

 

Total Liabilities

12,652,978

121.63

5,708,953

1,980,791

3,443,407

Current Liabilities

12,613,937

122.57

5,667,509

1,940,711

3,425,202

Non Current Liabilities

39,041

-5.80

41,444

40,080

18,205

 

 

 

 

 

 

Shareholders' Funds

9,147,879

67.78

5,452,269

4,603,089

2,653,441

Share Capital

2,256,765

-5.80

2,395,671

2,316,750

2,158,650

Total Reserves

6,891,114

125.45

3,056,598

2,286,339

494,791

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

Growth %

 

 

 

 

Year-on-Year Growth

156.02

46.11

11.29

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

10.20

10.84

11.73

3.68

Return on Equity (%)

62.42

43.46

38.13

18.65

Return on Assets (%)

26.19

21.23

26.66

8.12

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

1.38

1.05

0.43

1.30

Current Debt/Equity (Times)

1.38

1.04

0.42

1.29

Long Term Debt To Equity (Times)

0.00

0.01

0.01

0.01

Total Asset To Total Equity (Times)

2.38

2.05

1.43

2.30

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

2.57

1.96

2.27

2.20

Fixed Assets Turnover (Times)

52.67

35.12

36.39

26.84

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.64

1.86

3.18

1.63

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 60.87% (3 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 10.20 per cent in FY12 (FY11: 10.84 per cent). The company is now able to book in SGD - SIN 0.10 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.11 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.64 times in FY12 (FY11: 1.86 times). This means that the company has SGD - SIN 1.64 of current assets for every SGD - SIN 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 1.38 times in FY12, as compared with 1.05 times in FY11. This means that the company requires additional external financing of SGD - SIN 1.38 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 62.42 per cent for Subject in the current financial period, as compared to 43.46 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 26.19 per cent (FY11: 21.23 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 2.57 times in FY12 (FY11: 1.96 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.53.95

UK Pound

1

Rs.86.24

Euro

1

Rs.72.21

 

 

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%)

 

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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.