|
Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
HERRENKNECHT |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.08.2004 |
|
|
|
|
Com. Reg. No.: |
200410374-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Investment Holding Companies & Manufacture and Repair of
Construction Machinery And Parts |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
200410374-G |
|
COMPANY NAME |
: |
HERRENKNECHT |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
17/08/2004 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
152 BEACH ROAD, 17 - 05/08 GATEWAY EAST, 189721, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
152 BEACH ROAD THE GATEWAY - EAST #17-05/08, 189721, SINGAPORE. |
|
TEL.NO. |
: |
65-65909191 |
|
FAX.NO. |
: |
65-65909181 |
|
EMAIL |
: |
INFO@HERRENKNECHT.COM.SG |
|
WEB SITE |
: |
WWW.HERRENKNECHT.COM |
|
CONTACT PERSON |
: |
KURT STIEFEL ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING COMPANIES & MANUFACTURE AND REPAIR OF
CONSTRUCTION MACHINERY AND PARTS |
|
ISSUED AND PAID UP CAPITAL |
: |
11,874,543.00 ORDINARY SHARE, OF A VALUE OF SGD 11,874,543.00 |
|
SALES |
: |
SGD 395,894,814 [2012] |
|
NET WORTH |
: |
SGD 111,717,388 [2012] |
|
STAFF STRENGTH |
: |
80 [2013] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act and
the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) investment holding
companies & manufacture and repair of construction machinery and parts.
The immediate and ultimate holding company of the SC is HERRENKNECHT AG,
a company incorporated in GERMANY.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
HERRENKNECHT AG |
SCHLEHENWEG 2, 77963 SCHWANAU, GERMANY. |
T07UF0021 |
11,874,543.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
11,874,543.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
011289 |
CHINA |
HERRENKNECHT (WUXI) TUNNELLING EQUIPMENT CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011289 |
CHINA |
HERRENKNECHT (KUNMING) TUNNELLING EQUIPMENT CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011289 |
CHINA |
HERRENKNECHT (SHANGHAI) TUNNELLING MACHINERY CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011084 |
AUSTRALIA |
HERRENKNECHT (AUSTRALIA) PTY LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
624131K |
MALAYSIA |
HERRENKNECHT (M) SDN. BHD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011090 |
THAILAND |
HERRENKNECHT (ASIA) LIMITED |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
1016785D |
MALAYSIA |
HERRENKNECHT SERVICES (MALAYSIA) SDN. BHD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011288 |
CHINA |
HERRRENKNECHT (GUANGZHOU) TUNNELLING EQUIPMENT CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011288 |
CHINA |
HERRENKNECHT (SHANGHAI) TUNNELLING EQUIPMENT CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011288 |
CHINA |
HERRENKNECHT (CHENGDU) TUNNELLING EQUIPMENT CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011091 |
INDIA |
HERRENKNECHT (INDIA) PYT LIMITED |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011289 |
CHINA |
WUHAN WUZHONG HERRENKNECHT ENGINEERING TUNNELLING MACHINERY CO., LTD |
65.00 |
31/12/2012 |
|
|
|
|
|
|
|
011288 |
CHINA |
GUANGZHOU HERRENKNECHT TUNNELLING MACHINERY CO., LTD |
65.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
KURT STIEFEL |
|
Address |
: |
VOGESENSTR. 39, 77963 SCHWANAU, GERMANY. |
|
IC / PP No |
: |
677003979 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/01/2005 |
DIRECTOR 2
|
Name Of Subject |
: |
NICOLAS ZUBER |
|
Address |
: |
21 JALAN KELAWAR, KIM LIN PARK, 249262, SINGAPORE. |
|
IC / PP No |
: |
S7287435H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
28/02/2007 |
DIRECTOR 3
|
Name Of Subject |
: |
ERIC BOUCHARD |
|
Address |
: |
82 GRANGE ROAD 20 - 01, COLONNADE APARTMENT, 249587, SINGAPORE. |
|
IC / PP No |
: |
S7487312Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/01/2005 |
|
1) |
Name of Subject |
: |
KURT STIEFEL |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
IAN NG FOOK YUN |
|
|
IC / PP No |
: |
S2565916C |
|
|
|
|
|
|
|
Address |
: |
151 CAVENAGH ROAD 09 - 161, CAVENAGH COURT, 229628, SINGAPORE. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The SC is a service provider and it does not deal with trade suppliers.
The SC refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The SC refused to disclose its clientele.
|
Services |
: |
INVESTMENT HOLDING COMPANIES
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
80 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) investment holding
companies & manufacture and repair of construction machinery and parts.
The SC refused to disclose its operation.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65909191 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
152, BEACH ROAD #17-05/08, GATEWAY EAST SINGAPORE 189721 |
|
Current Address |
: |
152 BEACH ROAD THE GATEWAY - EAST #17-05/08, 189721, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
On 21st October 2013 we contacted one of the staff from the SC and she only
provided limited information on the SC.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
51.42% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
111.43% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
<3.27%> |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
<3.22%> |
] |
|
|
|
|
|
|
|
|
|
|
The increase in turnover could be due to the SC adopting an aggressive
marketing strategy.The SC incurred losses during the year due to the
inefficient control of its operating costs. The SC's unfavourable returns on
shareholders' funds indicate the management's inefficiency in utilising its
assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
154 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
210 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The SC's debtors ratio was high.
The SC should tighten its credit control and improve its collection period.
The unfavourable creditors' ratio could be due to the SC taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the SC and its suppliers and the SC may inadvertently have to pay
more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.20 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the SC in order to
assure its creditors of its ability to meet short term obligations and the SC
was in a good liquidity position. Thus, we believe the SC is able to meet all
its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
<5,125.13 Times> |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the SC may
be vulnerable to default in servicing the interest. The SC had no gearing and
hence it had virtually no financial risk. The SC was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the SC, having a zero gearing, will be able to compete better than
those which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the SC's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to
maintain its competitiveness in the market. The SC was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the SC should be able to repay its short
term obligations. The SC's interest cover was negative, indicating that it
did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term
financing or capital injection, it may not be able to service its interest
and repay the loans. The SC was a zero gearing company, it was solely
dependant on its shareholders to provide funds to finance its business. The
SC has good chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : LIMITED |
||||||
|
Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
|
Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
ECONOMY |
|
|
|
|
|
|
|
According to Ministry of Trade and Industry (MTI), the Singapore
economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global
economy is likely to remain subdued despite macroeconomic conditions
stablising in recent months of 2013. |
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However, the global economic outlook is still clouded with uncertainties.
Notably, concerns remain over the extent of the fiscal cutback with the
budget sequester in the US and potential flareup of the debt crisis in the
Eurozone. Should any of these risks materialise, Singapore's economic growth
could come in lower than expected. |
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Although resilient domestic demand in emerging Asia will provide some
support to global demand, it will not fully mitigate the effects of an
economic slowdown in the advanced economies. Consequently, Singapore's
externally-oriented sectors such as electronics and wholesale trade will
continue to perform poorly, while the financial services sector will be
affected by heightened uncertainties in the external environment.
Nevertheless, there will be some modest support to growth from the biomedical
manufacturing cluster and tourism-related sectors. The former will likely see
increased production of active pharmaceutical ingredients and biologics while
the latter will benefit from rising visitor arrivals from the region. |
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For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from
5.2% in 2011, mainly due to weakness in the externally-oriented sectors.
Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to
0.1%. The hudge decline was largely due to a rebound in the output of the
biomedical manufacturing and transport engineering clusters, which together
helped to mitigate part of the fall in output in the electronics cluster. By
contrast, the construction sector growth accelerated from 6.3% to 8.2% in
2012, due to the expansion in both public and private building activities. |
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Growth in the services producing industries also moderated to 1.2% in
2012, compared to 4.6% in 2011. This was mainly due to the slowdown in
wholesale and retail trade, accommodation and food services as well as other
services industries. In particular, the wholesale and retail trade sector
contracted by 0.7%, compared to the 1.6% growth in year 2011. The
accommodation and food services as well as other services industries posted
lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011.
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For the whole of 2012, all sectors, except the wholesale and retail
trade, contributed to growth. Business services was the largest contributor
with 0.4 percentage-points, followed by construction with 0.3
percentage-points and transportation and storage at 0.2 percentagepoints.
Besides, growth in total demand moderated to 2.4%, compared to 4.2% in 2011.
Domestic demand was the key contributor to total demand growth, accounting
for 2.2 percentage-points, or over 90 per cent, of the increase. |
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In 2012, total domestic demand rose by 9.7%, following the 6.5%
increase in 2011. The growth in total domestic demand was broad-based across
consumption, gross fixed capital formation (GFCF) and changes in inventories.
The total consumption expenditure in 2012 grew slightly by 0.9%, easing from
the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%,
reversing the 0.5% growth in 2011. Private consumption expenditure registered
a 2.2% gain, moderating from the 4.6% increase in the preceding year. |
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Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in
2013. |
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OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
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THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH |
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HERRENKNECHT |
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Financial Year End |
2012-12-31 |
2011-12-31 |
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Months |
12 |
12 |
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Consolidated Account |
Company |
Company |
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Audited Account |
YES |
YES |
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Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
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Currency |
SGD |
SGD |
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TURNOVER |
395,894,814 |
261,461,968 |
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---------------- |
---------------- |
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Total Turnover |
395,894,814 |
261,461,968 |
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Costs of Goods Sold |
<366,764,808> |
<209,775,868> |
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---------------- |
---------------- |
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Gross Profit |
29,130,006 |
51,686,100 |
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---------------- |
---------------- |
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PROFIT/(LOSS) FROM OPERATIONS |
<3,619,051> |
31,669,277 |
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---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
<3,619,051> |
31,669,277 |
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Taxation |
<38,079> |
<6,288,998> |
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---------------- |
---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
<3,657,130> |
25,380,279 |
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---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
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As previously reported |
104,658,066 |
79,277,787 |
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---------------- |
---------------- |
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As restated |
104,658,066 |
79,277,787 |
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---------------- |
---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
101,000,936 |
104,658,066 |
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---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) CARRIED FORWARD |
101,000,936 |
104,658,066 |
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============= |
============= |
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INTEREST EXPENSE (as per notes to P&L) |
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Others |
706 |
- |
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---------------- |
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706 |
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HERRENKNECHT ASIA HEADQUARTERS PTE. LTD. |
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ASSETS EMPLOYED: |
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FIXED ASSETS |
35,061,986 |
17,021,665 |
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LONG TERM INVESTMENTS/OTHER ASSETS |
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Subsidiary companies |
24,806,008 |
28,152,979 |
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---------------- |
---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
24,806,008 |
28,152,979 |
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---------------- |
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TOTAL LONG TERM ASSETS |
59,867,994 |
45,174,644 |
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CURRENT ASSETS |
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Stocks |
5,363,035 |
5,670,570 |
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Trade debtors |
167,024,107 |
252,213,223 |
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Other debtors, deposits & prepayments |
29,837,951 |
70,433,539 |
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Short term deposits |
393,566 |
379,362 |
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Amount due from holding company |
38,411,751 |
147,228,515 |
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Amount due from subsidiary companies |
39,883,444 |
6,424,052 |
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Amount due from related companies |
1,643,221 |
22,668,399 |
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Cash & bank balances |
3,729,318 |
2,986,394 |
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Others |
6,825,000 |
- |
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---------------- |
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TOTAL CURRENT ASSETS |
293,111,393 |
508,004,054 |
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---------------- |
---------------- |
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TOTAL ASSET |
352,979,387 |
553,178,698 |
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============= |
============= |
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CURRENT LIABILITIES |
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Trade creditors |
211,250,316 |
412,474,135 |
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Other creditors & accruals |
27,251,179 |
17,716,859 |
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Amounts owing to holding company |
2,076,540 |
1,872,770 |
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Amounts owing to subsidiary companies |
- |
16,377 |
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Provision for taxation |
42,512 |
5,082,587 |
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---------------- |
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TOTAL CURRENT LIABILITIES |
240,620,547 |
437,162,728 |
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---------------- |
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NET CURRENT ASSETS/(LIABILITIES) |
52,490,846 |
70,841,326 |
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---------------- |
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TOTAL NET ASSETS |
112,358,840 |
116,015,970 |
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============= |
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SHARE CAPITAL |
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Ordinary share capital |
11,874,543 |
11,874,543 |
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---------------- |
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TOTAL SHARE CAPITAL |
11,874,543 |
11,874,543 |
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RESERVES |
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General reserve |
<1,158,091> |
<1,158,091> |
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Retained profit/(loss) carried forward |
101,000,936 |
104,658,066 |
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---------------- |
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TOTAL RESERVES |
99,842,845 |
103,499,975 |
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SHAREHOLDERS' FUNDS/EQUITY |
111,717,388 |
115,374,518 |
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LONG TERM LIABILITIES |
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Deferred taxation |
641,452 |
641,452 |
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---------------- |
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TOTAL LONG TERM LIABILITIES |
641,452 |
641,452 |
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---------------- |
---------------- |
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|
112,358,840 |
116,015,970 |
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============= |
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HERRENKNECHT ASIA HEADQUARTERS PTE. LTD. |
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TYPES OF FUNDS |
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Cash |
4,122,884 |
3,365,756 |
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Net Liquid Funds |
4,122,884 |
3,365,756 |
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Net Liquid Assets |
47,127,811 |
65,170,756 |
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Net Current Assets/(Liabilities) |
52,490,846 |
70,841,326 |
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Net Tangible Assets |
112,358,840 |
116,015,970 |
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Net Monetary Assets |
46,486,359 |
64,529,304 |
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BALANCE SHEET ITEMS |
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Total Borrowings |
0 |
0 |
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Total Liabilities |
241,261,999 |
437,804,180 |
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Total Assets |
352,979,387 |
553,178,698 |
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Net Assets |
112,358,840 |
116,015,970 |
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Net Assets Backing |
111,717,388 |
115,374,518 |
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Shareholders' Funds |
111,717,388 |
115,374,518 |
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Total Share Capital |
11,874,543 |
11,874,543 |
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Total Reserves |
99,842,845 |
103,499,975 |
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LIQUIDITY (Times) |
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Cash Ratio |
0.02 |
0.01 |
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Liquid Ratio |
1.20 |
1.15 |
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Current Ratio |
1.22 |
1.16 |
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WORKING CAPITAL CONTROL (Days) |
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Stock Ratio |
5 |
8 |
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Debtors Ratio |
154 |
352 |
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Creditors Ratio |
210 |
718 |
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SOLVENCY RATIOS (Times) |
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Gearing Ratio |
0.00 |
0.00 |
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Liabilities Ratio |
2.16 |
3.79 |
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Times Interest Earned Ratio |
<5,125.13> |
0.00 |
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Assets Backing Ratio |
9.46 |
9.77 |
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PERFORMANCE RATIO (%) |
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Operating Profit Margin |
<0.91> |
12.11 |
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Net Profit Margin |
<0.92> |
9.71 |
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Return On Net Assets |
<3.22> |
27.30 |
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Return On Capital Employed |
<3.22> |
27.30 |
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Return On Shareholders' Funds/Equity |
<3.27> |
22.00 |
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Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
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NOTES TO ACCOUNTS |
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Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.