MIRA INFORM REPORT
|
Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
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Registered Office : |
16 Raffles Quay #28-00 Hong Leong Building
Singapore 048581 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.02.1996 |
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Com. Reg. No.: |
199601351Z |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Manufacturer of Polymers. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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
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Company Name: |
Registered Number: |
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MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
199601351Z |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
26/02/1996 |
16 RAFFLES QUAY #28-00 HONG LEONG BUILDING SINGAPORE 048581 |
6323 7226 |
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Age of Company: |
Website: |
Industry Type: |
|
17 |
www.mcap.com.sg |
COMMERCE-WHOLESALE |
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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 |
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NA |
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The entity is
paying current to the creditors |
No. of Charges(s): |
||
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Industry DTC |
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36 |
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Directors |
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Corporate Structure |
||
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Number of Current Directors |
2 |
Holding Company: |
MARUBENI ASEAN PTE. LTD. |
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Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
NA |
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EXECUTIVE SUMMARY
SHAREHOLDER DETAILS
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NAME |
: |
MARUBENI ASEAN PTE. LTD. |
|
SHAREHOLDER ID |
: |
199100806H |
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NATIONALITY |
: |
SINGAPORE |
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ADDRESS |
: |
16 RAFFLES QUAY #28-00 HONG LEONG BUILDING SINGAPORE 048581 |
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NO. OF ORD SHARES |
: |
1,500,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
Officer Details
|
NAME |
: |
KOICHI
IHARA |
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ADDRESS |
: |
33 OXLEY
RISE #12-03 VISIONCREST SINGAPORE 238710 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
01/04/2013 |
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NATIONALITY |
: |
JAPANESE |
|
I/C PASSPORT |
: |
G5410732W |
|
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||
|
NAME |
: |
HIROYUKI
TAKATSUKA |
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ADDRESS |
: |
6 MOUNT
SOPHIA #06-03 8 @ MOUNT SOPHIA SINGAPORE 228457 |
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POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
01/04/2010 |
|
NATIONALITY |
: |
JAPANESE |
|
I/C PASSPORT |
: |
G6267972M |
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||
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NAME |
: |
MASAKUNI
NAKAYAMA |
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ADDRESS |
: |
26 CUSCADEN
ROAD #08-04 CUSCADEN RESIDENCES SINGAPORE 249722 |
|
POSITION |
: |
DIRECTOR MANAGING
DIRECTOR |
|
DATE OF APPT |
: |
01/04/2010 01/04/2010 |
|
NATIONALITY |
: |
JAPANESE |
|
I/C PASSPORT |
: |
G6401081L |
Key Personnel Profile
|
Name: |
MASAKUNI NAKAYAMA |
|
NRIC Number: |
G6401081L |
|
Available Address: |
26 CUSCADEN ROAD #08-04
CUSCADEN RESIDENCES SINGAPORE 249722 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
AMW TRADING & LOGISTICS PTE.
LTD. |
DIRECTOR |
28/03/2013 |
- |
NA |
|
|
2 |
MARUBENI CHEMICAL ASIA PACIFIC
PTE LTD |
DIRECTOR |
01/04/2010 |
- |
NA |
|
3 |
MARUBENI CHEMICAL ASIA PACIFIC
PTE LTD |
MANAGING DIRECTOR |
01/04/2010 |
- |
NA |
|
4 |
MARUBENI CORPORATION |
AGENT |
01/04/2010 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
|
MARUBENI GRAIN & OILSEEDS
TRADING ASIA PTE. LTD. |
LIVE COMPANY |
DIRECTOR |
02/11/2010 |
02/04/2013 |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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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 (%) |
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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 |
: |
27/07/2012 |
|
Date of A/C Laid At Last AGM |
: |
31/12/2011 |
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 |
||||||
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|
DEC 2011 |
% Change |
DEC 2010 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
|
Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
|
Profit and Loss Key Figures |
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|
|
|
|
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|
400,755,725 |
57.12 |
255,068,305 |
194,339,405 |
1,701,479,689 |
1,317,056,824 |
|
|
Profit/(Loss) Before Tax |
369,778 |
157.39 |
143,667 |
(467,709) |
2,979,944 |
4,186,611 |
|
Profit After Tax attributable to
Shareholders |
340,448 |
30.15 |
261,581 |
758,574 |
2,342,084 |
3,604,473 |
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Balance Sheet Key Figures |
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Total Assets |
58,097,749 |
38.27 |
42,017,783 |
202,335,637 |
82,960,062 |
231,063,383 |
|
Current Assets |
58,044,490 |
38.29 |
41,974,174 |
202,289,003 |
82,892,283 |
230,947,791 |
|
Non Current Assets |
53,259 |
22.13 |
43,609 |
46,634 |
67,779 |
115,592 |
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Total Liabilities |
47,637,889 |
53.43 |
31,049,611 |
190,886,426 |
71,422,805 |
219,467,849 |
|
Current Liabilities |
47,637,889 |
53.43 |
31,049,611 |
190,886,426 |
71,422,805 |
219,467,849 |
|
Non Current Liabilities |
0 |
NA |
0 |
0 |
0 |
0 |
|
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|
|
|
|
|
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Shareholders' Funds |
10,459,861 |
-4.63 |
10,968,172 |
11,449,211 |
11,537,258 |
11,595,535 |
|
Share Capital |
1,338,372 |
-7.74 |
1,450,628 |
1,551,245 |
1,504,170 |
1,601,865 |
|
Total Reserves |
9,121,489 |
-4.16 |
9,517,544 |
9,897,966 |
10,033,088 |
9,993,670 |
FINANCIAL RATIOS
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DEC
2011 |
DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
|
Growth % |
|
|
|
|
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|
57.12 |
31.25 |
-88.58 |
29.19 |
NA |
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Profitability |
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Profit Margin (%) |
0.08 |
0.10 |
0.39 |
0.14 |
0.27 |
|
Return on Equity (%) |
3.25 |
2.38 |
6.63 |
20.30 |
31.09 |
|
Return on Assets (%) |
0.59 |
0.62 |
0.37 |
2.82 |
1.56 |
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Leverage |
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Total Debt/Equity (Times) |
4.55 |
2.83 |
16.67 |
6.19 |
18.93 |
|
Current Debt/Equity (Times) |
4.55 |
2.83 |
16.67 |
6.19 |
18.93 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
5.55 |
3.83 |
17.67 |
7.19 |
19.93 |
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Asset Management |
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|
|
|
|
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Total Assets Turnover (Times) |
6.90 |
6.07 |
0.96 |
20.51 |
5.70 |
|
Fixed Assets Turnover (Times) |
7,524.66 |
5,848.98 |
4,167.33 |
25,103.35 |
11,394.01 |
|
|
|
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Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
1.22 |
1.35 |
1.06 |
1.16 |
1.05 |
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of
net profit on sales of 0.08 per cent in FY11 (FY10: 0.10 per cent). The company
is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in
FY11, as compared with SGD - SIN 0.00 a year ago.
Liquidity
Current ratio stood at 1.22 times in FY11
(FY10: 1.35 times). This means that the company has SGD - SIN 1.22 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.
Leverage
Total debt-to-equity ratio
notched 4.55 times in FY11, compared with 2.83 times in FY10. This means that
the company requires additional external financing of SGD - SIN 4.55 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 3.25 per cent for Subject in the current financial period, as compared to
2.38 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 0.59 per cent (FY10: 0.62 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 6.90 times in FY11 (FY10: 6.07
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.
s
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.92 |
|
|
1 |
Rs.84.44 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.