MIRA INFORM REPORT

 

 

Report Date :

23.01.2013

 

IDENTIFICATION DETAILS

 

Name :

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

 

 

Registered Office :

3 Shenton Way #14-01 Shenton House Singapore 068805

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

07.01.1978

 

 

Com. Reg. No.:

197800048Z

 

 

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 :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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:

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

197800048Z

 

Date Incorporated:

Registered Office:

Telephone Number:

07/01/1978

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

6221 8455

Age of Company:

Website:

Industry Type:

34

www.adityabirla.com

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

62

Worse off than last month;last month the entity took 31 days to pay

No. of Charges(s):
0

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

NA

Number that are shareholders

6

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

Registration No

:

197800048Z

Date of Registration

:

07/01/1978

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

Date of Change of Address

:

24/01/1989

Contact No.

:

6221 8455

Fax No.

:

6222 4984

Website

:

www.adityabirla.com

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*

:

$36,955,598.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 36,955,598

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$36,955,598.00 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

:

LAU CHIN HUAT & CO

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 4,282,195,838.00 (FY2012)

Net Worth

:

SGD - SIN 248,165,810.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

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

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

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

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

Compounded Annual Growth Rate (CAGR)

:

15.33% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

ABHA INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200802696G

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

7,000,000

% OF SHAREHOLDING

:

18.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CALYX INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200802697W

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

7,000,000

% OF SHAREHOLDING

:

18.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

INDOGENIOUS HOLDINGS PTE. LTD.

SHAREHOLDER ID

:

200802699Z

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

7,000,000

% OF SHAREHOLDING

:

18.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

BIG BANYAN INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200804356E

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

7,000,000

% OF SHAREHOLDING

:

18.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

BLUE BUCKS INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200804357R

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

7,000,000

% OF SHAREHOLDING

:

18.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

KIRAN INVESTMENTS PTE. LTD.

SHAREHOLDER ID

:

200802701M

NATIONALITY

:

SINGAPORE

ADDRESS

:

3 SHENTON WAY #14-01 SHENTON HOUSE SINGAPORE 068805

NO. OF ORD SHARES

:

1,955,598

% OF SHAREHOLDING

:

5.3%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RAJESH KUMAR SOMANI

ADDRESS

:

1 TANJONG RHU ROAD #17-04 WATERSIDE, THE SINGAPORE 436879

POSITION

:

DIRECTOR

DATE OF APPT

:

07/10/2011

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G0305939T

 

NAME

:

BAJAJ JAGDISH PRASAD

ADDRESS

:

1 TANJONG RHU ROAD #17-04 WATERSIDE, THE SINGAPORE 436879

POSITION

:

DIRECTOR

DATE OF APPT

:

07/09/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G5327359P

 

NAME

:

CHEONG SENG CHOW

ADDRESS

:

43 LORONG 5 TOA PAYOH #11-129 SINGAPORE 310043

POSITION

:

SECRETARY

DATE OF APPT

:

16/08/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1350970J

 

NAME

:

SOMANI SHRINIVAS RAMESHCHANDRA

ADDRESS

:

108C MCNAIR ROAD #04-212 TOWNER HEIGHTS SINGAPORE 324108

POSITION

:

SECRETARY

DATE OF APPT

:

22/02/2012

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7465308A

 

 

 

KEY PERSONNEL PROFILE

 

Name:

RAJESH KUMAR SOMANI

NRIC Number:

G0305939T

Available Address:

1 TANJONG RHU ROAD #17-04 WATERSIDE, THE  SINGAPORE 436879

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

MANAGING DIRECTOR

07/09/2012

-

NA

2

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

DIRECTOR

07/10/2011

-

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

 

To date, there have been 11  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

7

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

0

2

High (>$250,000)

0

2

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

 

Case No.

:

3572

 

 

Transfer

:

-

 

 

Date of Filing

:

13/02/2004

 

 

Amount

:

33,000.00

 

 

Cause

:

Agency Law

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

ALLIANCE INTERNATIONAL MERCHANT PTE LTD

 

 

 

2)

Court

:

District Court

 

 

Case No.

:

3463               

 

 

Transfer

:

-

 

 

Date of Filing

:

31/07/2003

 

 

Amount

:

73,000.00

 

 

Cause

:

Contracts - General

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

LIVEN AGRICHEM PTE LTD

 

 

 

3)

Court

:

Magistrate Court

 

 

Case No.

:

3928

 

 

Transfer

:

-

 

 

Date of Filing

:

19/02/2002

 

 

Amount

:

0.00

 

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

LIM LING CHUN

 

 

 

4)

Court

:

Magistrate Court

 

 

Case No.

:

29626

 

 

Transfer

:

-

 

 

Date of Filing

:

29/12/2000

 

 

Amount

:

13,175.59

 

 

Cause

:

Contracts - Sale of Goods

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

ANDRE & CIE S.A. LAUSANNE

 

 

 

5)

Court

:

Magistrate Court

 

 

Case No.

:

29834

 

 

Transfer

:

-

 

 

Date of Filing

:

24/11/1999

 

 

Amount

:

21,604.73

 

 

Cause

:

Contracts - Work Done And Service Rendered

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

VREDELCO FOOD INDUSTRIES PTE LTD

 

 

 

6)

Court

:

Supreme Court

 

 

Case No.

:

846

 

 

Transfer

:

-

 

 

Date of Filing

:

08/06/1999

 

 

Amount

:

0.00

 

 

Cause

:

Contracts - General

 

 

Case Status

:

CONCLUDED

 

 

Plaintiff

:

PACIFIC CARRIERS LTD

 

 

 

7)

Court

:

Magistrate Court

 

Case No.

:

2788

 

Transfer

:

-

 

Date of Filing

:

11/02/1998

 

Amount

:

7,647.75

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TOH TAN & PARTNERS SUING AS A FIRM

 

8)

Court

:

Magistrate Court

 

Case No.

:

11054

 

Transfer

:

-

 

Date of Filing

:

27/06/1996

 

Amount

:

9,078.49

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

DIGITUS COMPUTER SYSTEMS PTE LTD

 

9)

Court

:

District Court

 

Case No.

:

107

 

Transfer

:

-

 

Date of Filing

:

10/01/1995

 

Amount

:

16,307.66

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

GLORY WORLD INTERNATIONAL LTD

 

10)

Court

:

Magistrate Court

 

Case No.

:

13659

 

Transfer

:

-

 

Date of Filing

:

30/08/1994

 

Amount

:

10,911.30

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

S G S SINGAPORE PTE LTD

 

11)

Court

:

Supreme Court

 

Case No.

:

1881

 

Transfer

:

-

 

Date of Filing

:

22/11/1994

 

Amount

:

135,375.00

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SINOTRAD PTE LTD

 

 

COMPLIANCE

 

Date of Last AGM

:

17/07/2012

Date of Last AR

:

16/08/2012

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

Group

 

 

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

4,282,195,838

13.63

3,768,657,106

2,651,876,078

3,416,392,035

2,420,724,538

Profit/(Loss) Before Tax

48,924,053

-2.56

50,210,344

57,209,827

117,598,515

121,165,730

Profit After Tax attributable to Shareholders

46,089,766

-5.54

48,793,765

55,676,031

114,338,119

115,398,584

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

542,779,484

-12.43

619,809,525

504,531,438

473,378,725

479,165,395

Current Assets

533,229,981

-13.30

615,012,798

500,041,541

468,816,073

474,703,399

Non Current Assets

9,549,503

99.08

4,796,727

4,489,897

4,562,652

4,461,996

 

 

 

 

 

 

 

Total Liabilities

294,613,672

-20.82

372,087,039

291,029,516

241,542,776

284,550,846

Current Liabilities

293,489,645

-20.91

371,087,505

290,077,278

240,776,697

283,931,410

Non Current Liabilities

1,124,027

12.46

999,534

952,238

766,079

619,436

 

 

 

 

 

 

 

Shareholders' Funds

248,165,810

0.18

247,722,487

213,501,924

231,835,950

194,614,549

Share Capital

26,352,912

-5.80

27,974,953

30,021,296

30,383,791

30,976,257

Total Reserves

221,812,898

0.94

219,747,534

183,480,628

201,452,159

163,638,292

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

13.63

42.11

-22.38

41.13

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.08

1.29

2.10

3.35

4.77

Return on Equity (%)

18.57

19.70

26.08

49.32

59.30

Return on Assets (%)

8.49

7.87

11.04

24.15

24.08

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.19

1.50

1.36

1.04

1.46

Current Debt/Equity (Times)

1.18

1.50

1.36

1.04

1.46

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.19

2.50

2.36

2.04

2.46

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

7.89

6.08

5.26

7.22

5.05

Fixed Assets Turnover (Times)

448.42

785.67

590.63

748.77

542.52

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.82

1.66

1.72

1.95

1.67

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 15.33% (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 group yielded a rate of net profit on sales of 1.08 per cent in FY12. The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales.

 

Liquidity

 

Current ratio stood at 1.82 times in FY12. This means that the group has SGD - SIN 1.82 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 1.19 times in FY12. This means that the group requires additional external financing of SGD - SIN 1.19 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 18.57 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 8.49 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 7.89 times in FY12. This ratio measures the group'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.53.51

UK Pound

1

Rs.84.85

Euro

1

Rs.71.43

 

 

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%)

 

 

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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.