MIRA INFORM REPORT

 

 

Report Date :

11.06.2013

 

IDENTIFICATION DETAILS

 

Name :

CATERPILLAR S.A.R.L. - SINGAPORE BRANCH

 

 

Registered Office :

7 Tractor Road Singapore 627968

 

 

Country :

Singapore

 

 

Financials (as on) :

30.11.2011

 

 

Date of Incorporation :

27.08.1999

 

 

Com. Reg. No.:

S99FC5744H

 

 

Legal Form :

Foreign Company Registered In Singapore

 

 

Line of Business :

Wholesale of Industrial, Construction and Related Machinery and Equipment

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

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:

CATERPILLAR S.A.R.L. - SINGAPORE BRANCH

S99FC5744H

 

Date Incorporated:

Registered Office:

Telephone Number:

27/08/1999

7 TRACTOR ROAD SINGAPORE 627968

6662 8333

Age of Company:

Website:

Industry Type:

14

www.cat.com

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

41

up

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

No. of Charges(s):
0

Industry DTC

 

37

 

Directors

 

Corporate Structure

Number of Current Directors

7

Holding Company:

NA

Number that are shareholders

NA

No. of Subsidiaries & Associated Companies:

NA

EXECUTIVE SUMMARY

 

Company Name

:

CATERPILLAR S.A.R.L. - SINGAPORE BRANCH

Registration No

:

S99FC5744H

Date of Registration

:

27/08/1999

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

FOREIGN COMPANY REGISTERED IN SINGAPORE

Registered Address

:

7 TRACTOR ROAD SINGAPORE 627968

Date of Change of Address

:

NA

Contact No.

:

6662 8333

Fax No.

:

6662 8302

Website

:

www.cat.com

Registered Activities

:

1. WHOLESALE OF INDUSTRIAL, CONSTRUCTION AND RELATED MACHINERY AND EQUIPMENT NEC

2. MANUFACTURE AND REPAIR OF ENGINES AND TURBINES EXCEPT AIRCRAFT, VEHICLE AND CYCLE ENGINES

Issued Ordinary Capital*

:

NA

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

NA

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

:

NA

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 10,669,270,482.00 (FY2011)

Net Worth

:

SGD - SIN 1,364,733,831.00 (FY2011)

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)

:

11.24% (4 years)

 

 

SHAREHOLDER DETAILS

 

No Trace

 

 

 

 

OFFICER DETAILS

 

NAME

:

PIERRE FRANCOIS REY-MILLET

ADDRESS

:

1, CLOS DES REMPARTS, POLINGE 74930 REIGNIER, FRANCE

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/2013

NATIONALITY

:

FRENCH

I/C PASSPORT

:

031D12334

 

NAME

:

GERARD R. VITTECOQ

ADDRESS

:

248 ROUTE DE CORTENAZ, 74380 CRANVES-SALES, FRANCE

POSITION

:

DIRECTOR

DATE OF APPT

:

20/12/2000

NATIONALITY

:

FRENCH

I/C PASSPORT

:

07CI86385

 

NAME

:

TORSTEN U.G. BARTSCH

ADDRESS

:

272 RUE DE LA FRUITIERE 01170 CESSY, FRANCE

POSITION

:

DIRECTOR

DATE OF APPT

:

23/11/2010

NATIONALITY

:

GERMAN

I/C PASSPORT

:

350131647

 

NAME

:

MARK EUGENE SWEENEY

ADDRESS

:

ROUTE D'HERMANCE 295 1247 ANIERES, SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

30/05/2012

NATIONALITY

:

BRITISH

I/C PASSPORT

:

507720098

 

NAME

:

NIGEL ALAN LEWIS

ADDRESS

:

ROUTE DU VALLON 17 1224 CHENE-BOUGERIES, SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/2013

NATIONALITY

:

BRITISH

I/C PASSPORT

:

508402783

 

NAME

:

LANCE WALTON HIGH

ADDRESS

:

1 CEDARWOOD GROVE SINGAPORE 738382

POSITION

:

AGENT

DATE OF APPT

:

18/07/2012

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5268103R

 

NAME

:

FOO TOCK NGAN

ADDRESS

:

160 YUNG PING ROAD #09-41 SINGAPORE 610160

POSITION

:

AGENT

DATE OF APPT

:

18/04/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1368900H

 

NAME

:

THOMAS ZIHLMANN

ADDRESS

:

ROUTE DE SEZEGNIN 32 1285 ATHENAZ SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

10/05/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

X1528602

 

NAME

:

PAOLO FELLIN

ADDRESS

:

CHEMIN FRANK-THOMAS 80 1208 GENEVA, SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

13/08/2004

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

YA3741504

 

KEY PERSONNEL PROFILE

 

Name:

GERARD R. VITTECOQ

NRIC Number:

07CI86385

Available Address:

248 ROUTE DE CORTENAZ, 74380 CRANVES-SALES, FRANCE

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CATERPILLAR S.A.R.L. - SINGAPORE BRANCH

DIRECTOR

20/12/2000

-

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

:

30/05/2012

Date of Last AR

:

NA

Date of A/C Laid At Last AGM

:

30/11/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

-

NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

 

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

 

NOV 2011

% Change

NOV 2010

NOV 2009

NOV 2008

NOV 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

10,669,270,482

39.92

7,625,516,224

5,520,201,910

8,469,546,956

6,967,827,319

Profit/(Loss) Before Tax

560,345,313

12.44

498,359,857

17,475,348

275,775,989

349,167,411

Profit After Tax attributable

 to Shareholders

535,079,475

13.50

471,427,267

17,126,107

255,080,355

331,737,323

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,354,690,193

7.95

2,181,270,528

1,479,419,918

1,945,035,824

1,538,297,182

Current Assets

2,187,433,577

8.55

2,015,085,599

1,349,800,639

1,826,259,349

1,414,232,070

Non Current Assets

167,256,616

0.64

166,184,929

129,619,279

118,776,475

124,065,112

 

 

 

 

 

 

 

Total Liabilities

989,956,361

32.85

745,144,283

546,043,244

939,895,926

738,573,969

Current Liabilities

955,525,913

29.42

738,329,990

545,216,426

938,908,004

737,517,010

Non Current Liabilities

34,430,448

405.27

6,814,293

826,818

987,922

1,056,959

 

 

 

 

 

 

 

Shareholders' Funds

1,364,733,831

-4.97

1,436,126,246

933,376,675

1,005,139,897

799,723,214

Share Capital

0

NA

0

0

0

0

Total Reserves

1,364,733,831

-4.97

1,436,126,246

933,376,675

1,005,139,897

799,723,214

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

NOV 2011

NOV 2010

NOV 2009

NOV 2008

NOV 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

39.92

38.14

-34.82

21.55

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.02

6.18

0.31

3.01

4.76

Return on Equity (%)

39.21

32.83

1.83

25.38

41.48

Return on Assets (%)

22.72

21.61

1.16

13.11

21.57

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.73

0.52

0.59

0.94

0.92

Current Debt/Equity (Times)

0.70

0.51

0.58

0.93

0.92

Long Term Debt To Equity (Times)

0.03

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.73

1.52

1.59

1.94

1.92

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.53

3.50

3.73

4.35

4.53

Fixed Assets Turnover (Times)

63.79

45.89

42.59

71.31

56.16

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.29

2.73

2.48

1.95

1.92

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 11.24% (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 company yielded a rate of net profit on sales of 5.02 per cent in FY11 (FY10: 6.18 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.06 a year ago.

 

 

Liquidity

 

Current ratio stood at 2.29 times in FY11 (FY10: 2.73 times). This means that the company has SGD - SIN 2.29 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 0.73 times in FY11, compared with 0.52 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.73 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

 

sReturn on equity was 39.21 per cent for Subject in the current financial period, as compared to 32.83 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 22.72 per cent (FY10: 21.61 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

 

FINANCIAL COMMENTARY

 

Total assets turnover ratio logged at 4.53 times in FY11 (FY10: 3.50 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.57.78

UK Pound

1

Rs.89.71

Euro

1

Rs.76.23

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.