MIRA INFORM REPORT
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Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
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Name : |
EASTMAN CHEMICAL LTD. |
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Formerly Known As : |
EASTMAN CHEMICAL INTERNATIONAL LTD Eff. date : 11/04/1977 Eff. date :
11/04/1977 |
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Registered Office : |
24 Raffles Place #15-00 Clifford Centre Singapore 048621 |
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Country : |
Singapore |
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Financials (as on) : |
December, 2011 |
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Date of Incorporation : |
11.04.1977 |
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Com. Reg. No.: |
S77FC2640L |
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Legal Form : |
Foreign Company Registered in Singapore |
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Line of Business : |
Wholesale of Chemicals and Chemical Products Nec |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
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Company Name: |
Registered
Number: |
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EASTMAN CHEMICAL LTD. |
S77FC2640L |
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Date Incorporated: |
Registered Office: |
Telephone Number: |
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11/04/1977 |
24 RAFFLES PLACE #15-00 CLIFFORD CENTRE SINGAPORE 048621 |
6735 3310 |
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Age of Company: |
Website: |
Industry Type: |
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36 |
NA |
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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25 |
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Directors |
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Corporate Structure |
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Number of Current Directors |
1 |
Holding Company: |
NA |
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Number that are shareholders |
NA |
No. of Subsidiaries & Associated Companies: |
NA |
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Company name
EASTMAN CHEMICAL LTD.
EXECUTIVE SUMMARY
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: |
EASTMAN CHEMICAL LTD. |
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Registration No |
: |
S77FC2640L |
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Date of Registration |
: |
11/04/1977 |
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Former Name |
: |
EASTMAN CHEMICAL INTERNATIONAL LTD Eff. date : 11/04/1977 Eff. date :
11/04/1977 |
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Date of Change of Name |
: |
31/12/1992 |
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Type of Company |
: |
FOREIGN COMPANY REGISTERED IN SINGAPORE |
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Registered Address |
: |
24 RAFFLES PLACE #15-00 CLIFFORD CENTRE SINGAPORE 048621 |
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Date of Change of Address |
: |
30/01/2004 |
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Contact No. |
: |
6735 3310 |
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Fax No. |
: |
NA |
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Website |
: |
NA |
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Registered Activities |
: |
WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS NEC |
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Issued Ordinary Capital* |
: |
NA |
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Issued Preference Capital |
: |
NA |
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Paid-Up Ordinary Capital |
: |
NA |
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Paid-Up Preference Capital |
: |
NA |
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* Number of Shares includes number of Issued Treasury Shares |
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Issued Treasury Capital |
: |
NA |
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Paid-Up Treasury Capital |
: |
NA |
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No. of Local Subsidiaries |
: |
NA |
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No. of Local Associates |
: |
NA |
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Auditor |
: |
NA |
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Bankers / Financiers |
: |
NA |
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Turnover |
: |
SGD - SIN 212,637,645.00 (FY2011) |
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Net Worth |
: |
SGD - SIN 0.00 (FY2011) |
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No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
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S1000 / SME 1000 / FG50 Ranking |
: |
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Compounded Annual Growth Rate (CAGR) |
: |
NA |
SHAREHOLDER DETAILS
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OFFICER DETAILS
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DAVID AARON GOLDEN |
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ADDRESS |
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1013 PARHAM PLACE, KINGSPORT, TN 37660, UNITED STATES OF AMERICA. |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
23/05/2012 |
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NATIONALITY |
: |
AMERICAN |
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I/C PASSPORT |
: |
423869351 |
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NAME |
: |
ANGELA TEO BEE LUANG |
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ADDRESS |
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14 GREENLEAF DRIVE BAN GUAN PARK SINGAPORE 279528 |
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POSITION |
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AGENT |
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DATE OF APPT |
: |
15/05/2006 |
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NATIONALITY |
: |
SINGAPORE CITIZEN |
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I/C PASSPORT |
: |
S0017677Z |
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NAME |
: |
SIEW BOON HIM |
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ADDRESS |
: |
7 MARYMOUNT TERRACE #05-06 TRESALVEO SINGAPORE 573963 |
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POSITION |
: |
AGENT |
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DATE OF APPT |
: |
15/05/2006 |
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NATIONALITY |
: |
SINGAPORE CITIZEN |
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I/C PASSPORT |
: |
S2143789A |
KEY PERSONNEL PROFILE
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DAVID AARON GOLDEN |
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NRIC Number: |
423869351 |
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Available Address: |
1013 PARHAM PLACE, KINGSPORT,
TN 37660, UNITED STATES OF AMERICA. |
Current Business Interest
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No. |
Name |
Position |
Appt Date |
#of Share |
% |
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EASTMAN CHEMICAL LTD. |
DIRECTOR |
23/05/2012 |
- |
NA |
Previous Business
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No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
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Bankruptcy Record
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Case No. |
Year |
Date of Filing |
Petitioner Name |
Amount |
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.
Litigation Search – Writ of Summons
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Court |
Case No. |
Transfer |
Year |
Date of Filing |
Amount |
Cause Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
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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
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Date of Last AGM |
: |
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Date of Last AR |
: |
NA |
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Date of A/C Laid At Last AGM |
: |
31/12/2011 |
COMPLIANCE RATING FOR ANNUAL FILING
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
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Financial Figures |
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DEC 2011 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
DEC 2006 |
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Currency |
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
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Profit and Loss Key Figures |
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212,637,645 |
149,267,728 |
164,857,387 |
(165,761,689) |
0 |
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Profit/(Loss) Before Tax |
9,308,038 |
4,957,381 |
5,803,441 |
(4,053,066) |
(5,421,927) |
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Profit After Tax attributable to Shareholders |
7,749,064 |
4,409,209 |
4,813,446 |
(3,332,572) |
(5,421,927) |
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Balance Sheet Key Figures |
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Total Assets |
91,437,079 |
60,775,324 |
66,629,013 |
31,671,239 |
27,938,987 |
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Current Assets |
91,358,307 |
60,688,597 |
66,451,106 |
31,334,614 |
27,614,065 |
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Non Current Assets |
78,772 |
86,727 |
177,907 |
336,625 |
324,922 |
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Total Liabilities |
91,437,079 |
60,775,325 |
66,629,013 |
31,671,239 |
27,938,987 |
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Current Liabilities |
91,437,079 |
60,775,325 |
66,629,013 |
31,671,239 |
27,938,987 |
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Non Current Liabilities |
0 |
0 |
0 |
0 |
0 |
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Shareholders' Funds |
0 |
0 |
0 |
0 |
0 |
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Share Capital |
0 |
0 |
0 |
0 |
0 |
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Total Reserves |
0 |
0 |
0 |
0 |
0 |
FINANCIAL RATIOS
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DEC 2011 |
DEC 2009 |
DEC 2008 |
DEC 2007 |
DEC 2006 |
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Growth % |
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NA |
-9.46 |
NA |
NA |
NA |
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Profitability |
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Profit Margin (%) |
3.64 |
2.95 |
2.92 |
2.01 |
0.00 |
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Return on Equity (%) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Return on Assets (%) |
8.47 |
7.25 |
7.22 |
-10.52 |
-19.41 |
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Leverage |
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Total Debt/Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Current Debt/Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Total Asset To Total Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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Asset Management |
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Total Assets Turnover (Times) |
2.33 |
2.46 |
2.47 |
-5.23 |
0.00 |
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Fixed Assets Turnover (Times) |
2,699.41 |
1,721.12 |
926.65 |
-492.42 |
0.00 |
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Liquidity |
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Current Ratio (Times) |
1.00 |
1.00 |
1.00 |
0.99 |
0.99 |
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net profit on
sales of 3.64 per cent in FY11. The company is now able to book in SGD - SIN
0.04 of profit for every SGD - SIN of sales.
Liquidity
Current ratio stood at 1.00 times in FY11.
This means that the company has SGD - SIN 1.00 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
We are unable to comment on Subject's
leverage.
Efficiency Ratio
We are unable to
comment on Subject's return on equity.
Return on assets stood at 8.47 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 2.33 times in FY11. 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.55.99 |
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|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.