MIRA INFORM REPORT

 

 

Report Date :

10.06.2013

 

IDENTIFICATION DETAILS

 

Name :

NICHIA CHEMICAL PTE LTD

 

 

Registered Office :

78 Shenton Way #26-03 Singapore 079120

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2012

 

 

Date of Incorporation :

15.06.2000

 

 

Com. Reg. No.:

200005228C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Electronic Components

 

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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:

NICHIA CHEMICAL PTE LTD

200005228C

 

Date Incorporated:

Registered Office:

Telephone Number:

15/06/2000

78 SHENTON WAY #26-03 SINGAPORE 079120

6324 8218

Age of Company:

Website:

Industry Type:

13

http://www.nichia.co.jp/

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

blank

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

37

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NICHIA CORPORATION

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

NICHIA CHEMICAL PTE LTD

Registration No

:

200005228C

Date of Registration

:

15/06/2000

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

78 SHENTON WAY #26-03 SINGAPORE 079120

Date of Change of Address

:

18/11/2011

Contact No.

:

6324 8218

Fax No.

:

6324 5756

Website

:

http://www.nichia.co.jp/

Registered Activities

:

1. WHOLESALE OF ELECTRONIC COMPONENTS

IMP, EXP & DISTRIBUTE LIGHT EMITTING DIODES & ELECTRONIC MATERIALS

2. WHOLESALE OF ELECTRONIC COMPONENTS

IMP, EXP & DISTRIBUTE OPTICAL SEMICONDUCTOR DEVICES,TRANSITION METAL CATALYSTS

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 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

:

K K CHUA & CO

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 45,023,554.00 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 8,748,229.00 (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)

:

16.29% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

NICHIA CORPORATION

SHAREHOLDER ID

:

T00UF0485J

NATIONALITY

:

JAPAN

ADDRESS

:

491 OKA,  KAMINAKA-CHO, ANAN-SHI TOKUSHIMA  774-8601, JAPAN

NO. OF ORD SHARES

:

1,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

YASUO SHONO

ADDRESS

:

180A BENCOOLEN STREET #16-12 BENCOOLEN, THE SINGAPORE 189647

POSITION

:

DIRECTOR

DATE OF APPT

:

26/05/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5144124P

 

NAME

:

HITOSHI ASAKAWA

ADDRESS

:

2 MARINA BOULEVARD #35-05 SAIL @ MARINA BAY, THE SINGAPORE 018987

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

06/03/2012

06/03/2012

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G5238567P

 

NAME

:

MAKOTO TAKENAKA

ADDRESS

:

301 JALAN BUKIT HO SWEE #14-01 MERAPRIME SINGAPORE 169568

POSITION

:

DIRECTOR

DATE OF APPT

:

16/03/2009

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

G6241465R

 

NAME

:

TEH KWANG HWEE

ADDRESS

:

74 TELOK BLANGAH HEIGHTS #05-305 SINGAPORE 100074

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1153921A

 

 

KEY PERSONNEL PROFILE

 

Name:

HITOSHI ASAKAWA

NRIC Number:

G5238567P

Available Address:

2 MARINA BOULEVARD #35-05 SAIL @ MARINA BAY, THE  SINGAPORE 18987

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

NICHIA CHEMICAL PTE LTD

DIRECTOR

06/03/2012

-

NA

2

NICHIA CHEMICAL PTE LTD

MANAGING DIRECTOR

06/03/2012

-

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

 

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.

:

30520

 

Transfer

:

-

 

Date of Filing

:

21/11/2008

 

Amount

:

60,000.00

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TAN YANG HONG @ LIM YANG HONG

 

Last Update Date

:

27/08/2012

 

 

COMPLIANCE

 

Date of Last AGM

:

18/03/2013

Date of Last AR

:

08/04/2013

Date of A/C Laid At Last AGM

:

31/12/2012

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

http://www.bizfile.gov.sg/mybizfile/prod/pop_up/Tick.png

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

45,023,554

-43.93

80,302,165

32,023,231

20,347,348

24,620,943

Profit/(Loss) Before Tax

(281,136)

NA

3,763,851

1,040,311

(529,920)

(3,808,725)

Profit After Tax attributable

 to Shareholders

(276,136)

NA

3,768,851

1,046,311

(495,372)

(3,808,407)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

14,319,471

-45.38

26,214,472

23,174,960

18,648,991

17,713,648

Current Assets

13,939,539

-46.02

25,821,907

22,812,109

18,281,108

17,324,598

Non Current Assets

379,932

-3.22

392,565

362,851

367,883

389,050

 

 

 

 

 

 

 

Total Liabilities

5,571,242

-54.30

12,190,107

12,919,446

9,439,788

8,009,073

Current Liabilities

5,571,242

-54.30

12,190,107

12,919,446

9,439,788

8,008,525

Non Current Liabilities

0

NA

0

0

0

548

 

 

 

 

 

 

 

Shareholders' Funds

8,748,229

-37.62

14,024,365

10,255,514

9,209,203

9,704,575

Share Capital

1,000,000

0.00

1,000,000

1,000,000

1,000,000

1,000,000

Total Reserves

7,748,229

-40.51

13,024,365

9,255,514

8,209,203

8,704,575

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2012

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-43.93

150.76

57.38

-17.36

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-0.61

4.69

3.27

-2.43

-15.47

Return on Equity (%)

-3.16

26.87

10.20

-5.38

-39.24

Return on Assets (%)

-1.93

14.38

4.51

-2.66

-21.50

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.64

0.87

1.26

1.03

0.83

Current Debt/Equity (Times)

0.64

0.87

1.26

1.03

0.83

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.64

1.87

2.26

2.03

1.83

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.14

3.06

1.38

1.09

1.39

Fixed Assets Turnover (Times)

118.50

204.56

88.25

55.31

63.28

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.50

2.12

1.77

1.94

2.16

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 16.29% (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 2.50 times in FY12 (FY11: 2.12 times). This means that the company has SINGAPORE, DOLLARS 2.50 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 0.64 times in FY12, as compared with 0.87 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.64 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 3.14 times in FY12 (FY11: 3.06 times). Thiss 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.56.74

UK Pound

1

Rs.88.53

Euro

1

Rs.75.20

 

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.