|
Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
PROCTER & GAMBLE INTERNATIONAL
OPERATIONS SA SINGAPORE BRANCH |
|
|
|
|
Registered Office : |
112, Robinson Road, 05-01, Robinson 112, 068902 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
31.12.2010 |
|
|
|
|
Com. Reg. No.: |
T10FC0158-J |
|
|
|
|
Legal Form : |
Foreign |
|
|
|
|
Line of Business : |
Business and Management Consultancy Services. |
|
|
|
|
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 : |
Good |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired by you) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
T10FC0158-J |
|
COMPANY NAME |
: |
PROCTER &
GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
31/12/2010 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
FOREIGN |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
112, ROBINSON ROAD, 05-01, ROBINSON 112,
068902, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
238A THOMSON ROAD #20-01/10 NOVENA SQUARE
TOWER A SINGAPORE, 307684, SINGAPORE. |
|
TEL.NO. |
: |
65-68245000 |
|
FAX.NO. |
: |
65-68246200 |
|
WEB SITE |
: |
WWW.PG.COM |
|
CONTACT PERSON |
: |
KLAUS LINDNER ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
BUSINESS AND MANAGEMENT CONSULTANCY
SERVICES |
|
AUTHORISED CAPITAL |
: |
N/A |
|
|
|
|
|
|
|
|
|
SALES |
: |
SGD 4,873,789,000 [2012] |
|
NET WORTH |
: |
SGD 573,122,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
The SC is principally engaged in the (as a / as an) business and management consultancy services.
No shareholders was found in our databank at the time of investigation
DIRECTOR
1
|
Name Of Subject |
: |
KLAUS LINDNER |
|
Address |
: |
CHEMIN DE LA GRANDELLE 18, 1224 CHENE -
BOUGERIES, SWITZERLAND. |
|
IC / PP No |
: |
CFTF98XN3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/08/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name Of Subject |
: |
PETER WINSTION GRIFFIN |
|
Address |
: |
15, CHEMIN DES VOIRONS, 1224
CHENE-BOUGERIES, SWITZERLAND. |
|
IC / PP No |
: |
P7073926530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
31/03/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
3
|
Name Of Subject |
: |
GIOVANNI CISERANI |
|
Address |
: |
ROUTE DU JURA 17, 1296 COPPET,
SWITZERLAND. |
|
IC / PP No |
: |
B434044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
ITALIAN |
|
Date of Appointment |
: |
01/07/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
4
|
Name Of Subject |
: |
LUIGI PIERLEONI |
|
Address |
: |
CHEMIN LOUIS DEGAILLER 63, 1290 VERSOIX,
SWITZERLAND. |
|
IC / PP No |
: |
AA5308853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
ITALIAN |
|
Date of Appointment |
: |
05/03/2012 |
|
1) |
Name of Subject |
: |
KLAUS LINDNER |
|
|
Position |
: |
DIRECTOR |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
EDWARD DRACY HUNTER |
|
|
IC / PP No |
: |
G5726925T |
|
|
|
|
|
|
|
Address |
: |
11, ARDMORE PARK, 15-01, ARDMOREPARK,
259957, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
2) |
Company Secretary |
: |
QIU ZHONGQIANG |
|
|
IC / PP No |
: |
G6284455N |
|
|
|
|
|
|
|
Address |
: |
7, ANTHONY ROAD, 07-28, ORCHARD SCOTTS,
229955, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
3) |
Company Secretary |
: |
CHARLES ABDI LIM |
|
|
IC / PP No |
: |
S2723258B |
|
|
|
|
|
|
|
Address |
: |
2, FIFTH AVENUE, 04-03, FIFTH AVENUE
CONDOMINIUM, 268800, FOREIGN, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
4) |
Company Secretary |
: |
HATSUNORI KIRIYAMA |
|
|
IC / PP No |
: |
G5916041P |
|
|
|
|
|
|
|
Address |
: |
21, NASSIM ROAD, 02-20 , NASSIM PARK
RESIDENCES, 258462, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
5) |
Company Secretary |
: |
NICOLAS ANTHONY MARIE FRANCIS DEFAUW |
|
|
IC / PP No |
: |
G5294223W |
|
|
|
|
|
|
|
Address |
: |
6, BIN TONG PARK, 269789, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Services |
: |
BUSINESS AND MANAGEMENT CONSULTANCY SERVICES
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as
an) business and management consultancy services.
Driven by passionate people and a common purpose,
the Group brings beloved brands to consumers around the world including our 50
Leadership Brands that are among the world’s most well known household names.
The Group focuses on the below group of
products:
* Beauty & Grooming
* Household Care
* Consumer care products
The Group serves consumers in more than 180
countries around the Globe.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
6568245000 |
|
Current Telephone Number |
: |
65-68245000 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
238 A THOMSON ROAD # 21-01/10, NOVENA
SQUARE TOWER A, SINGAPORE 307684 |
|
Current Address |
: |
238A THOMSON ROAD #20-01/10 NOVENA SQUARE TOWER
A SINGAPORE, 307684, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other
Investigations
We contacted one of the staff from the SC and
she provided some information on the SC.
The SC refused to disclose its number of
employees.
The address provided also belongs to the SC.
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
98.83% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
56.50% |
] |
|
|
|
|
|
|
|
|
|
|
Generally the SC was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the SC's management was efficient in utilising the assets to generate
returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing
its holding cost. This had reduced funds being tied up in stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the SC. The SC had a favourable creditors' ratio where the SC
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.50 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.84 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 |
: |
Favourable |
[ |
3,385.78 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the SC was
able to service the interest. The favourable interest cover could indicate
that the SC was making enough profit to pay for the interest accrued. 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 : |
|
|
|
|
|
|
|
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. With the favourable interest cover, the SC could be able to
service all the accrued interest without facing any difficulties. 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 : STRONG |
||||||
|
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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Incorporated in 2010, the SC is a Foreign company,
focusing on business and management consultancy services. Having been in the
industry for 3 years, the SC has started to stabilise its business position in the
market.
Apart from supplying its products to the local
market, the SC also exports to overseas countries. Its ability to penetrate
into the global market has benefited the SC in terms of higher profitability
and well diversified its business risk. Hence, better growth prospect can be
expected. Overall, we regard that the SC's management capability is average.
This indicates that the SC has greater potential to improve its business
performance and raising income for the SC.
Based on the higher profitability, the SC has
generated a favourable return based on its existing shareholders' funds which
indicated that the management was efficient in utilising its funds to generate
income. The SC is in good liquidity position with its current liabilities well covered
by it current assets. Hence, it has sufficient working capital to meet its
short term financial obligations. Being a zero geared company, the SC virtually
has no financial risk as it is mainly dependent on its internal funds to
finance its business. Given a positive net worth standing at SGD 573,122,000,
the SC should be able to maintain its business in the near terms.
Without a strong assets backing, the SC may face
difficulties in getting loans for its future expansion and continued growth.
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key suppliers
and insufficient quantities of its raw materials. Overall the SC has a good
control over its resources.
Overall, the SC's payment habit is good as the
SC has a good credit control and it could be taking advantage of the cash
discounts while maintaining a good reputation with its creditors.
The industry has reached its maturity stage and
only enjoying a marginal growth. The steady growth of the country's economy
will further enhance the industry activities. Thus, the SC's future performance
is very much depend on its marketing strategies in order to retain its position
in the market.
Based on the above condition, we recommend
credit be granted to the SC normally.
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THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
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PROCTER &
GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
|
Financial Year End |
2012-06-30 |
|
Months |
18 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
SGD |
|
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TURNOVER |
4,873,789,000 |
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|
---------------- |
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Total Turnover |
4,873,789,000 |
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---------------- |
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PROFIT/(LOSS) FROM OPERATIONS |
565,258,000 |
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---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
565,258,000 |
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Taxation |
1,148,000 |
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---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
566,406,000 |
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---------------- |
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RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
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---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
566,406,000 |
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TRANSFER TO RESERVES - General |
<2,444,000> |
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---------------- |
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RETAINED PROFIT/(LOSS) CARRIED FORWARD |
563,962,000 |
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============= |
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INTEREST EXPENSE
(as per notes to P&L) |
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Others |
167,000 |
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---------------- |
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|
167,000 |
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PROCTER & GAMBLE
INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
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ASSETS EMPLOYED: |
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FIXED ASSETS |
122,439,000 |
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LONG TERM
INVESTMENTS/OTHER ASSETS |
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Deferred assets |
1,817,000 |
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Others |
28,141,000 |
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---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
29,958,000 |
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INTANGIBLE
ASSETS |
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Trademarks |
27,305,000 |
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---------------- |
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TOTAL INTANGIBLE ASSETS |
27,305,000 |
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---------------- |
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TOTAL LONG TERM ASSETS |
179,702,000 |
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CURRENT ASSETS |
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Stocks |
338,866,000 |
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Trade debtors |
612,313,000 |
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Other debtors, deposits & prepayments |
99,422,000 |
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Amount due from related companies |
711,466,000 |
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Cash & bank balances |
31,745,000 |
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---------------- |
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TOTAL CURRENT ASSETS |
1,793,812,000 |
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TOTAL ASSET |
1,973,514,000 |
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============= |
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CURRENT
LIABILITIES |
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Trade creditors |
632,119,000 |
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Other creditors & accruals |
70,727,000 |
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Amounts owing to related companies |
257,862,000 |
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Provision for taxation |
669,000 |
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Other liabilities |
11,465,000 |
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---------------- |
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TOTAL CURRENT LIABILITIES |
972,842,000 |
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NET CURRENT ASSETS/(LIABILITIES) |
820,970,000 |
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---------------- |
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TOTAL NET ASSETS |
1,000,672,000 |
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============= |
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RESERVES |
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Capital reserve |
9,160,000 |
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Retained profit/(loss) carried forward |
563,962,000 |
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TOTAL RESERVES |
573,122,000 |
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SHAREHOLDERS' FUNDS/EQUITY |
573,122,000 |
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HEAD OFFICE ACCOUNT |
391,207,000 |
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LONG TERM
LIABILITIES |
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Retirement benefits provision |
36,343,000 |
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TOTAL LONG TERM LIABILITIES |
36,343,000 |
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---------------- |
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|
1,000,672,000 |
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============= |
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PROCTER &
GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
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TYPES OF FUNDS |
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Cash |
31,745,000 |
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Net Liquid Funds |
31,745,000 |
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Net Liquid Assets |
482,104,000 |
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Net Current Assets/(Liabilities) |
820,970,000 |
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Net Tangible Assets |
973,367,000 |
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Net Monetary Assets |
445,761,000 |
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BALANCE SHEET
ITEMS |
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Total Borrowings |
0 |
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Total Liabilities |
1,009,185,000 |
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Total Assets |
1,973,514,000 |
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Net Assets |
1,000,672,000 |
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Net Assets Backing |
964,329,000 |
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Shareholders' Funds |
573,122,000 |
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Total Share Capital |
0 |
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Total Reserves |
573,122,000 |
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LIQUIDITY
(Times) |
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Cash Ratio |
0.03 |
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Liquid Ratio |
1.50 |
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Current Ratio |
1.84 |
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WORKING CAPITAL
CONTROL (Days) |
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Stock Ratio |
25 |
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Debtors Ratio |
46 |
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Creditors Ratio |
47 |
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SOLVENCY RATIOS
(Times) |
|
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Gearing Ratio |
0.00 |
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Liabilities Ratio |
1.76 |
|
Times Interest Earned Ratio |
3,385.78 |
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Assets Backing Ratio |
- |
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PERFORMANCE
RATIO (%) |
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Operating Profit Margin |
11.60 |
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Net Profit Margin |
11.62 |
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Return On Net Assets |
56.50 |
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Return On Capital Employed |
88.80 |
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Return On Shareholders' Funds/Equity |
98.83 |
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Dividend Pay Out Ratio (Times) |
0.00 |
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NOTES TO
ACCOUNTS |
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Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.84.14 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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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 |
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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.