MIRA
INFORM REPORT
|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
LANXESS BUTYL PTE. LTD. |
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Registered Office : |
3A International Business Park #07-10/18 Icon@Ibp Singapore 609935 |
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Country : |
Singapore |
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Financials (as on) : |
December, 2012 |
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Date of Incorporation : |
14.03.2008 |
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Com. Reg. No.: |
200805083D |
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Legal Form : |
Limited Private Company |
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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
|
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 |
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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 |
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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.
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Source
: CIA |
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Company Name: |
Registered
Number: |
|
LANXESS BUTYL PTE. LTD. |
200805083D |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
14/03/2008 |
3A INTERNATIONAL BUSINESS PARK #07-10/18 ICON@IBP SINGAPORE 609935 |
6725 5888 |
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Age of Company: |
Website: |
Industry Type: |
|
5 |
NA |
MANUFACTURING |
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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 |
||
|
17 |
|||
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Payment pattern as per previous month |
No. of Charges(s): |
||
|
Industry DTC |
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||
|
25 |
|||
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Directors |
|
Corporate Structure |
||
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Number of Current Directors |
3 |
Holding Company: |
LANXESS INTERNATIONAL HOLDING GMBH |
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Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
1 |
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EXECUTIVE SUMMARY
|
: |
LANXESS BUTYL PTE. LTD. |
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Registration No |
: |
200805083D |
|
Date of Registration |
: |
14/03/2008 |
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Former Name |
: |
NA |
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Date of Change of Name |
: |
NA |
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Type of Company |
: |
LIMITED PRIVATE COMPANY |
|
Registered Address |
: |
3A INTERNATIONAL BUSINESS PARK #07-10/18 ICON@IBP SINGAPORE 609935 |
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Date of Change of Address |
: |
29/03/2010 |
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Contact No. |
: |
6725 5888 |
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Fax No. |
: |
NA |
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Website |
: |
NA |
|
Registered Activities |
: |
WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS NEC TRADING OF CHEMICALS |
|
Issued Ordinary Capital* |
: |
$40,050,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 40,050,000 |
|
Issued Preference Capital |
: |
NA |
|
Paid-Up Ordinary Capital |
: |
$40,050,000.00 SINGAPORE, DOLLARS |
|
Paid-Up Preference Capital |
: |
NA |
|
* 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 |
: |
1 |
|
No. of Local Associates |
: |
NA |
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Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Bankers / Financiers |
: |
NA |
|
Turnover |
: |
SGD - SIN 1,687,112,181.00 (FY2012) |
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Net Worth |
: |
SGD - SIN 590,249,745.00 (FY2012) |
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No. of Bank Charges |
: |
NA |
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No. of Litigation Suits |
: |
NA |
EXECUTIVE SUMMARY
SHAREHOLDER DETAILS
|
: |
LANXESS INTERNATIONAL HOLDING GMBH |
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SHAREHOLDER ID |
: |
T08UF1609K |
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NATIONALITY |
: |
GERMANY |
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ADDRESS |
: |
51369 LEVERKUSEN GERMANY |
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NO. OF ORD SHARES |
: |
40,050,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
DR WERNER BREUERS |
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ADDRESS |
: |
ALOYS-SCHULTE-STRASSE 22 53129 BONN |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
06/07/2010 |
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NATIONALITY |
: |
GERMAN |
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I/C PASSPORT |
: |
C73Y3HLT4 |
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||
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NAME |
: |
RONALD JOHN COMMANDER |
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ADDRESS |
: |
1A LADY HILL ROAD #01-12 SHANGRI-LA RESIDENCES SINGAPORE 258685 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
06/07/2010 |
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NATIONALITY |
: |
BRITISH |
|
I/C PASSPORT |
: |
G6379742T |
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||
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NAME |
: |
LIM JOO JOON |
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ADDRESS |
: |
65 SUMMER PLACE SUMMER PLACE SINGAPORE 555747 |
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POSITION |
: |
SECRETARY DIRECTOR |
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DATE OF APPT |
: |
14/03/2008 30/09/2008 |
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NATIONALITY |
: |
SINGAPORE CITIZEN |
|
I/C PASSPORT |
: |
S1248311B |
KEY PERSONNEL PROFILE
|
LIM JOO JOON |
|
|
NRIC Number: |
S1248311B |
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Available Address: |
65 SUMMER PLACE SUMMER
PLACE SINGAPORE 555747 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
LANXESS BUTYL PTE. LTD. |
DIRECTOR |
30/09/2008 |
- |
NA |
|
|
2 |
LANXESS BUTYL PTE. LTD. |
SECRETARY |
14/03/2008 |
- |
NA |
|
3 |
LANXESS PTE. LTD. |
SECRETARY |
10/05/2004 |
- |
NA |
|
4 |
LANXESS PTE. LTD. |
DIRECTOR |
01/07/2004 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
|
BAYER (SOUTH EAST ASIA) PTE
LTD |
LIVE COMPANY |
SECRETARY |
31/03/2000 |
25/06/2013 |
|
|
2 |
BAYER ENVIRONMENTAL HEALTH
SINGAPORE PRIVATE LIMITED |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
17/07/2003 |
31/03/2009 |
|
3 |
BAYER INTERNATIONAL S.A. |
CEASED REGISTRATION |
AGENT |
27/12/2001 |
- |
|
4 |
BAYER TRADING PTE LTD |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
02/06/1998 |
- |
|
5 |
DYSTAR SINGAPORE PTE LTD |
LIVE COMPANY |
SECRETARY |
02/06/1998 |
02/07/2013 |
|
6 |
HAARMANN & REIMER (SEA)
PTE LTD |
DISSOLVED - MEMBERS' VOLUNTARY
WINDING UP |
SECRETARY |
02/06/1998 |
03/06/2010 |
|
7 |
HENNECKE-MARUKA ASIA PTE LTD |
LIVE COMPANY |
SECRETARY |
02/06/1998 |
03/11/2010 |
|
8 |
I.C. EQUIPMENT PTE LTD |
LIVE COMPANY |
DIRECTOR |
05/02/2002 |
05/04/2012 |
|
9 |
JLYN INVESTMENT PTE LTD |
STRUCK OFF |
DIRECTOR |
16/05/1990 |
- |
|
10 |
JLYN INVESTMENT PTE LTD |
STRUCK OFF |
SECRETARY |
10/08/1990 |
- |
|
11 |
JLYN INVESTMENT PTE LTD |
STRUCK OFF |
SHAREHOLDER |
- |
- |
KEY PERSONNEL PROFILE
Previous Business (Cont’d)
|
12 |
QET MANUFACTURING PTE LTD |
DISSOLVED - CREDITORS'
VOLUNTARY WINDING UP |
DIRECTOR |
05/02/2002 |
- |
|
13 |
SCHMIDT ELECTRONICS (S.E.A.)
PTE LTD |
LIVE COMPANY |
SECRETARY |
01/08/1991 |
20/06/2013 |
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 (%) |
|
|
|
|
100 |
|
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 |
: |
02/05/2013 |
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Date of A/C Laid At Last AGM |
: |
31/12/2012 |
COMPLIANCE RATING FOR ANNUAL
FILING
|
ANNUAL GENERAL MEETING, ANNUAL RETURN AND ACCOUNTS UP-TO-DATE |
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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 |
||||||
|
|
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 |
|
|
|
|
|
|
|
1,687,112,181 |
52.91 |
1,103,328,911 |
659,161,246 |
6,599 |
0 |
|
|
Profit/(Loss) Before Tax |
227,170,285 |
7.84 |
210,654,237 |
141,597,818 |
(6,007,099) |
(5,673,489) |
|
Profit After Tax attributable to Shareholders |
227,170,285 |
7.84 |
210,653,364 |
141,591,094 |
(6,008,977) |
(5,673,489) |
|
|
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
|
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Total Assets |
1,133,200,166 |
34.90 |
840,051,315 |
389,725,708 |
63,131,658 |
42,247,485 |
|
Current Assets |
363,778,416 |
8.18 |
336,261,073 |
121,228,435 |
2,344,046 |
11,594,832 |
|
Non Current Assets |
769,421,750 |
52.73 |
503,790,242 |
268,497,273 |
60,787,612 |
30,652,653 |
|
|
|
|
|
|
|
|
|
Total Liabilities |
542,950,421 |
14.19 |
475,466,494 |
222,883,356 |
44,574,790 |
7,870,974 |
|
Current Liabilities |
534,835,151 |
12.64 |
474,835,920 |
222,776,167 |
44,556,169 |
7,870,974 |
|
Non Current Liabilities |
8,115,270 |
1,186.97 |
630,574 |
107,189 |
18,621 |
0 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
590,249,745 |
61.90 |
364,584,822 |
166,842,352 |
18,556,868 |
34,376,511 |
|
Share Capital |
35,668,850 |
-0.73 |
35,931,211 |
38,944,917 |
28,620,185 |
40,050,000 |
|
Total Reserves |
554,580,895 |
68.74 |
328,653,611 |
127,897,435 |
(10,063,317) |
(5,673,489) |
FINANCIAL RATIOS
|
|
|||||
|
|
DEC 2012 |
DEC 2011 |
DEC 2010 |
DEC 2009 |
DEC 2008 |
|
Growth % |
|
|
|
|
|
|
52.91 |
67.38 |
9,988,705.06 |
NA |
NA |
|
|
|
|
|
|
|
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Profitability |
|
|
|
|
|
|
Profit Margin (%) |
13.47 |
19.09 |
21.48 |
-91,058.90 |
0.00 |
|
Return on Equity (%) |
38.49 |
57.78 |
84.87 |
-32.38 |
-16.50 |
|
Return on Assets (%) |
20.05 |
25.08 |
36.33 |
-9.52 |
-13.43 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
0.92 |
1.30 |
1.34 |
2.40 |
0.23 |
|
Current Debt/Equity (Times) |
0.91 |
1.30 |
1.34 |
2.40 |
0.23 |
|
Long Term Debt To Equity (Times) |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
1.92 |
2.30 |
2.34 |
3.40 |
1.23 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
1.49 |
1.31 |
1.69 |
0.00 |
0.00 |
|
Fixed Assets Turnover (Times) |
2.19 |
2.19 |
2.46 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
0.68 |
0.71 |
0.54 |
0.05 |
1.47 |
|
|
|
|
|
|
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FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net profit on
sales of 13.47 per cent in FY12 (FY11: 19.09 per cent). The company is now able
to book in SGD - SIN 0.13 of profit for every SGD - SIN of sales in FY12, as
compared with SGD - SIN 0.19 a year ago.
Liquidity
Current ratio stood at 0.68 times in FY12
(FY11: 0.71 times). This means that the company has SGD - SIN 0.68 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 0.92
times in FY12, compared with 1.30 times in FY11. This means that the company
requires additional external financing of SGD - SIN 0.92 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 38.49 per cent for Subject in the current financial period, as
compared to 57.78 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 20.05 per cent (FY11: 25.08 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 1.49 times in FY12 (FY11: 1.31
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.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
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.