MIRA
INFORM REPORT
|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIKKO ASSET MANAGEMENT ASIA LIMITED |
|
|
|
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Formerly Known As : |
DBS ASSET MANAGEMENT LTD Eff. |
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|
|
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Registered Office : |
8 Cross Street #08-01 Pwc Building Singapore 048424 |
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Country : |
Singapore |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
16.06.1982 |
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Com. Reg. No.: |
198202562H |
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Legal Form : |
Public Company Limited By Shares |
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Line of Business : |
Fund Management Activities |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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: |
|
NIKKO ASSET MANAGEMENT ASIA LIMITED |
198202562H |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
16/06/1982 |
8 CROSS STREET #08-01 PWC BUILDING SINGAPORE 048424 |
6878 7801 |
|
Age of Company: |
Website: |
Industry Type: |
|
31 |
www.dbsam.com |
FINANCE |
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|
Risk Dashboard |
||
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Days Beyond Terms |
Trend: |
No. of Litigation Counts: |
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|
Company DTC: |
NA |
||
|
26 |
|||
|
Worse off than
last month;last month the entity took 0 days to pay |
No. of Charges(s): |
||
|
Industry DTC |
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||
|
22 |
|||
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Directors |
|
Corporate Structure |
||
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Number of Current Directors |
7 |
Holding Company: |
NIKKO ASSET MANAGEMENT INTERNATIONAL LIMITED |
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Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
1 |
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EXECUTIVE SUMMARY
|
: |
NIKKO ASSET MANAGEMENT
ASIA LIMITED |
|
|
Registration No |
: |
198202562H |
|
Date of Registration |
: |
16/06/1982 |
|
Former Name |
: |
1.GENERAL INVESTMENT MANAGEMENT
LIMITED Eff. date : 11/07/1982 Eff. date : 11/07/1982 2.DBS ASSET MANAGEMENT
LTD Eff. date : 06/02/1990 Eff. date : 06/02/1990 |
|
Date of Change of Name |
: |
17/10/2011 |
|
Type of Company |
: |
PUBLIC COMPANY LIMITED BY
SHARES |
|
Registered Address |
: |
8 CROSS STREET #08-01 PWC
BUILDING SINGAPORE 048424 |
|
Date of Change of Address |
: |
30/09/2011 |
|
Contact No. |
: |
6878 7801 |
|
Fax No. |
: |
6534 5183 |
|
Website |
: |
www.dbsam.com |
|
Registered Activities |
: |
FUND MANAGEMENT
ACTIVITIES NEC |
|
Issued Ordinary Capital* |
: |
$64,000,000.00 SINGAPORE,
DOLLARS ,NO. OF SHARE : 64,000,000 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$64,000,000.00 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 |
: |
1 |
|
Auditor |
: |
KPMG LLP |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN 47,752,000.00
(FY2012) |
|
Net Worth |
: |
SGD - SIN 60,339,000.00
(FY2012) |
|
No. of Bank Charges |
: |
NA |
|
No. of Litigation Suits |
: |
NA |
SHAREHOLDER DETAILS
|
: |
NIKKO ASSET MANAGEMENT INTERNATIONAL LIMITED |
|
|
SHAREHOLDER ID |
: |
199002028H |
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NATIONALITY |
: |
SINGAPORE |
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ADDRESS |
: |
8 CROSS STREET #08-01 PWC BUILDING SINGAPORE 048424 |
|
NO. OF ORD SHARES |
: |
64,000,000 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
CHARLES JOHN
SHERARD BEAZLEY |
|
|
ADDRESS |
: |
#1003 THE PARK
RESIDENCES AT THE RITZ-CARLTON TOKYO 9-7-7 AKASAKA MINATO-KU TOKYO 107-0052
JAPAN |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
BRITISH |
|
I/C PASSPORT |
: |
099226414 |
|
|
||
|
NAME |
: |
FREDERICK
REIDENBACH |
|
ADDRESS |
: |
#101 3-14-17
HIROO, SHIBUYA-KU TOKYO 150-0012, JAPAN |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
488217404 |
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|
||
|
NAME |
: |
BLAIR CHILTON
PICKERELL |
|
ADDRESS |
: |
LA HACIENDA,
LOWER HOUSE 1 29 MT KELLETT ROAD, THE PEAK, HONG KONG |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
710543761 |
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|
||
|
NAME |
: |
V ARIVAZHAGAN |
|
ADDRESS |
: |
137 POTONG PASIR
AVENUE 3 #06-142 SINGAPORE 350137 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1667084G |
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||
|
NAME |
: |
NG SOO NAM |
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ADDRESS |
: |
54 TOH TUCK ROAD
#01-11 SIGNATURE PARK SINGAPORE 596745 |
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POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
31/10/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1690654I |
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||
|
NAME |
: |
LIM SAY BOON |
|
ADDRESS |
: |
76 BAYSHORE ROAD
#20-19 COSTA DEL SOL SINGAPORE 469990 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
SINGAPORE P.R. |
|
I/C PASSPORT |
: |
S2628375B |
|
|
||
|
NAME |
: |
ELEANOR SEET OON
HUI |
|
ADDRESS |
: |
76 GRANGE ROAD
#04-01 MANHATTAN MANSIONS SINGAPORE 249580 |
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POSITION |
: |
DIRECTOR MANAGER |
|
DATE OF APPT |
: |
17/10/2011 17/10/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7519383A |
|
|
||
|
NAME |
: |
KAMILLE TEO WEI
WEI (ZHANG WEIWEI) |
|
ADDRESS |
: |
669D JURONG WEST
STREET 64 #12-60 SINGAPORE 644669 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7628908E |
|
|
||
|
NAME |
: |
PEK LAY PHENG
(BAI LIPING) |
|
ADDRESS |
: |
318D ANCHORVALE
LINK #06-229 SINGAPORE 544318 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
30/09/2011 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7704449C |
KEY PERSONNEL PROFILE
|
CHARLES JOHN SHERARD BEAZLEY |
|
|
NRIC Number: |
099226414 |
|
Available Address: |
#1003 THE PARK RESIDENCES AT THE
RITZ-CARLTON TOKYO 9-7-7 AKASAKA MINATO-KU TOKYO 107-0052 JAPAN |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
NIKKO ASSET MANAGEMENT ASIA
LIMITED |
DIRECTOR |
30/09/2011 |
- |
NA |
|
|
2 |
NIKKO ASSET MANAGEMENT
INTERNATIONAL LIMITED |
DIRECTOR |
28/10/2011 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
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Bankruptcy Record
|
Case No. |
Year |
Date of Filing |
Petitioner Name |
Amount |
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|
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Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date of Filing |
Amount |
Cause Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
|
Company |
Shareholdings (%) |
|
|
|
|
33.33 |
|
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 |
: |
|
|
Date of Last AR |
: |
08/10/2012 |
|
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 |
|||||
|
|
MAR 2012 |
DEC 2010 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
|
Currency |
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
|
|
Profit and Loss Key Figures |
|
|
|
|
|
|
47,752,000 |
37,692,000 |
40,134,000 |
47,398,000 |
73,813,000 |
|
|
Profit/(Loss) Before Tax |
33,923,000 |
5,837,000 |
9,387,000 |
9,662,000 |
18,763,000 |
|
Profit After Tax attributable to
Shareholders |
34,684,000 |
6,357,000 |
9,779,000 |
8,668,000 |
15,029,000 |
|
|
|
|
|
|
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Balance Sheet Key Figures |
|
|
|
|
|
|
Total Assets |
71,685,000 |
122,403,000 |
113,810,000 |
125,817,000 |
127,734,000 |
|
Current Assets |
63,827,000 |
81,702,000 |
72,548,000 |
84,142,000 |
88,683,000 |
|
Non Current Assets |
7,858,000 |
40,701,000 |
41,262,000 |
41,675,000 |
39,051,000 |
|
|
|
|
|
|
|
|
Total Liabilities |
11,346,000 |
11,196,000 |
8,960,000 |
15,747,000 |
26,332,000 |
|
Current Liabilities |
11,292,000 |
11,078,000 |
8,468,000 |
13,897,000 |
23,124,000 |
|
Non Current Liabilities |
54,000 |
118,000 |
492,000 |
1,850,000 |
3,208,000 |
|
|
|
|
|
|
|
|
Shareholders' Funds |
60,339,000 |
111,207,000 |
104,850,000 |
110,070,000 |
101,402,000 |
|
Share Capital |
64,000,000 |
64,000,000 |
64,000,000 |
64,000,000 |
64,000,000 |
|
Total Reserves |
(3,661,000) |
47,207,000 |
40,850,000 |
46,070,000 |
37,402,000 |
|
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|
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|
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FINANCIAL RATIOS
|
|
|||||
|
|
MAR 2012 |
DEC 2010 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
|
Growth % |
|
|
|
|
|
|
NA |
-6.08 |
-15.33 |
-35.79 |
NA |
|
|
|
|
|
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|
|
|
Profitability |
|
|
|
|
|
|
Profit Margin (%) |
72.63 |
16.87 |
24.37 |
18.29 |
20.36 |
|
Return on Equity (%) |
57.48 |
5.72 |
9.33 |
7.87 |
14.82 |
|
Return on Assets (%) |
48.38 |
5.19 |
8.59 |
6.89 |
11.77 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
0.19 |
0.10 |
0.09 |
0.14 |
0.26 |
|
Current Debt/Equity (Times) |
0.19 |
0.10 |
0.08 |
0.13 |
0.23 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.02 |
0.03 |
|
Total Asset To Total Equity (Times) |
1.19 |
1.10 |
1.09 |
1.14 |
1.26 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
0.67 |
0.31 |
0.35 |
0.38 |
0.58 |
|
Fixed Assets Turnover (Times) |
6.08 |
0.93 |
0.97 |
1.14 |
1.89 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
5.65 |
7.38 |
8.57 |
6.05 |
3.84 |
|
|
|
|
|
|
|
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net profit on sales
of 72.63 per cent in FY12. The company is now able to book in SGD - SIN 0.73 of
profit for every SGD - SIN of sales.
Liquidity
Current ratio stood at 5.65 times in FY12.
This means that the company has SGD - SIN 5.65 of current assets for every SGD
- SIN 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.
FINANCIAL COMMENTARY
Leverage
Total debt-to-equity ratio notched 0.19
times in FY12. This means that the company requires additional external
financing of SGD - SIN 0.19 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 57.48 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 48.38 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 0.67 times in FY12. 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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.