MIRA INFORM REPORT

 

 

Report Date :

25.07.2013

 

IDENTIFICATION DETAILS

 

Name :

HSBC GLOBAL ASSET MANAGEMENT (SINGAPORE) LIMITED

 

 

Formerly Known as:

HSBC INVESTMENTS (SINGAPORE) LIMITED Eff. date : 10/04/2008

 

 

Registered Office :

21 Collyer Quay #10-02 Hsbc Building Singapore 049320

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2012

 

 

Date of Incorporation :

20.09.1986

 

 

Com. Reg. No.:

198602036R

 

 

Legal Form :

Public Company Limited By Shares

 

 

Line of Business :

1. Fund Management Activities Nec

Relating To Investment Management

2. Corporate Finance Advisory Services

Discretionary Mgt of Clients' Investment Portfolios & Other Advisory Services

 

 

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 :

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Singapore

A1

A

 

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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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:

HSBC GLOBAL ASSET MANAGEMENT (SINGAPORE) LIMITED

198602036R

 

Date Incorporated:

Registered Office:

Telephone Number:

20/09/1986

21 COLLYER QUAY #10-02 HSBC BUILDING SINGAPORE 049320

6530 2828

Age of Company:

Website:

Industry Type:

27

www.hsbcinvestments.com.sg

HOLDINGS

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

23

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

HSBC GLOBAL ASSET MANAGEMENT HOLDINGS (BAHAMAS) LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

HSBC GLOBAL ASSET MANAGEMENT (SINGAPORE) LIMITED

Registration No

:

198602036R

Date of Registration

:

20/09/1986

Former Name

:

1.WARDLEY INVESTMENT SERVICES (SINGAPORE) LIMITED Eff. date : 08/07/1992

2.HSBC ASSET MANAGEMENT SINGAPORE LIMITED Eff. date : 28/02/1994

3.HSBC ASSET MANAGEMENT (SINGAPORE) LIMITED Eff. date : 06/09/1999

4.HSBC INVESTMENTS (SINGAPORE) LIMITED Eff. date : 29/04/2005

5.HSBC GLOBAL ASSET MANAGEMENT (SINGAPORE) LIMITED Eff. date : 02/04/2008

6.HSBC INVESTMENTS (SINGAPORE) LIMITED Eff. date : 10/04/2008

Date of Change of Name

:

30/05/2008

Type of Company

:

PUBLIC COMPANY LIMITED BY SHARES

Registered Address

:

21 COLLYER QUAY #10-02 HSBC BUILDING SINGAPORE 049320

Date of Change of Address

:

21/08/2012

Contact No.

:

6530 2828

Fax No.

:

6225 4324

Website

:

www.hsbcinvestments.com.sg

Registered Activities

:

1. FUND MANAGEMENT ACTIVITIES NEC

RELATING TO INVESTMENT MANAGEMENT

2. CORPORATE FINANCE ADVISORY SERVICES

DISCRETIONARY MGT OF CLIENTS' INVESTMENT PORTFOLIOS & OTHER ADVISORY SERVICES

Issued Ordinary Capital*

:

$4,500,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 4,500,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$4,500,000.00 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

 

 

EXECUTIVE SUMMARY

 

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

KPMG LLP

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 40,163,126.00 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 33,893,991.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

865 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2011/2012)

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

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

1635 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

298 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

HSBC GLOBAL ASSET MANAGEMENT HOLDINGS (BAHAMAS) LIMITED

SHAREHOLDER ID

:

T08UF0268A

NATIONALITY

:

BAHAMAS

ADDRESS

:

SUITE 306, CENTRE OF COMMERCE ONE BAY ST, PO. BOX N4917 NASSAU, NEW PROVIDENCE

NO. OF ORD SHARES

:

4,500,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

JOANNA MARY MUNRO

ADDRESS

:

HOUSE E, CASE DEL SOL, NO. 33 CHING SAU LANE CHUNG HOM KOK, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

21/06/2011

NATIONALITY

:

BRITISH

I/C PASSPORT

:

099099435

 

NAME

:

PAUL MARTIN ARROWSMITH

ADDRESS

:

23 EWART PARK EWART PARK SINGAPORE 279760

POSITION

:

DIRECTOR

DATE OF APPT

:

08/11/2011

NATIONALITY

:

NEW ZEALANDER

I/C PASSPORT

:

G5932204X

 

NAME

:

ANTONY LEE SAY MENG

ADDRESS

:

15 JALAN TEMPUA SINGAPORE 298980

POSITION

:

SECRETARY

DATE OF APPT

:

26/09/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1394306J

 

NAME

:

LIM SAW CHENG KALEN

ADDRESS

:

117 JURONG EAST STREET 13 #24-147 IVORY HEIGHTS SINGAPORE 600117

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/07/2013

01/07/2013

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1788153A

 

NAME

:

AMIT GUPTA

ADDRESS

:

6A SUNSET VALE SINGAPORE 597245

POSITION

:

DIRECTOR

DATE OF APPT

:

02/04/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2723478Z

 

NAME

:

GUY DANIEL HARVEY-SAMUEL

ADDRESS

:

28 SWISS CLUB ROAD SWISS CLUB PARK SINGAPORE 288126

POSITION

:

DIRECTOR

DATE OF APPT

:

11/04/2013

NATIONALITY

:

BRITISH

I/C PASSPORT

:

S2764215B

 

NAME

:

HARJIT KAUR D/O HAKAM SINGH

ADDRESS

:

54 TELOK BLANGAH DRIVE #08-38 SINGAPORE 100054

POSITION

:

SECRETARY

DATE OF APPT

:

25/10/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6836700Z

 

NAME

:

WALTER MARK DE OUDE

ADDRESS

:

39 MOUNT SINAI RISE #08-01 FONTANA HEIGHTS SINGAPORE 276957

POSITION

:

DIRECTOR

DATE OF APPT

:

18/04/2011

NATIONALITY

:

NETHERLANDS

I/C PASSPORT

:

S7366855G

 

 

KEY PERSONNEL PROFILE

 

Name:

LIM SAW CHENG KALEN

NRIC Number:

S1788153A

Available Address:

117 JURONG EAST STREET 13 #24-147 IVORY HEIGHTS  SINGAPORE 600117

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

No Trace

 

 

 

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

SAMBAL SHIOK

TERMINATION

OWNER

24/05/2007

-

 

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

:

24/06/2013

Date of Last AR

:

16/07/2013

Date of A/C Laid At Last AGM

:

31/12/2012

 

 

 

 

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

 

DEC 2012

% Change

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

40,163,126

-25.73

54,078,367

77,824,443

50,725,734

81,563,712

Profit/(Loss) Before Tax

24,744,320

-30.29

35,497,579

59,449,804

38,217,662

65,674,235

Profit After Tax attributable

 to Shareholders

23,326,728

-20.30

29,269,705

53,438,980

37,111,057

63,943,951

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

48,678,776

-21.48

61,997,397

81,382,785

93,891,034

89,975,434

Current Assets

48,259,978

-21.30

61,318,725

78,651,863

89,016,896

85,370,123

Non Current Assets

418,798

-38.29

678,672

2,730,922

4,874,138

4,605,311

 

 

 

 

 

 

 

Total Liabilities

14,784,785

-32.59

21,933,478

21,602,484

17,691,864

20,763,942

Current Liabilities

14,784,785

-32.57

21,924,909

21,602,484

17,691,864

20,763,942

Non Current Liabilities

0

-100.00

8,569

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

33,893,991

-15.40

40,063,919

59,780,301

76,199,170

69,211,492

Share Capital

4,500,000

0.00

4,500,000

4,500,000

4,500,000

4,500,000

Total Reserves

29,393,991

-17.35

35,563,919

55,280,301

71,699,170

64,711,492

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2012

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-25.73

-30.51

53.42

-37.81

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

58.08

54.12

68.67

73.16

78.40

Return on Equity (%)

68.82

73.06

89.39

48.70

92.39

Return on Assets (%)

47.92

47.21

65.66

39.53

71.07

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.44

0.55

0.36

0.23

0.30

Current Debt/Equity (Times)

0.44

0.55

0.36

0.23

0.30

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.44

1.55

1.36

1.23

1.30

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.83

0.87

0.96

0.54

0.91

Fixed Assets Turnover (Times)

95.90

79.68

28.50

10.41

17.71

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

3.26

2.80

3.64

5.03

4.11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 58.08 per cent in FY12 (FY11: 54.12 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.58 of profit for every SINGAPORE, DOLLARS of sales in FY12, as compared with SINGAPORE, DOLLARS 0.54 a year ago.

 

Liquidity

 

Current ratio stood at 3.26 times in FY12 (FY11: 2.80 times). This means that the company has SINGAPORE, DOLLARS 3.26 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 0.44 times in FY12, compared with 0.55 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.44 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

 

Return on equity was 68.82 per cent for Subject in the current financial period, as compared to 73.06 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 47.92 per cent (FY11: 47.21 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 0.83 times in FY12 (FY11: 0.87 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.59.44

UK Pound

1

Rs.91.24

Euro

1

Rs.78.43

 

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%)

 

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.