%20PTE%20%20LTD%20%20-%20280831%2012-Aug-2014_files/image002.jpg){kind=small}
|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGILENT TECHNOLOGIES |
|
|
|
|
Formerly Known As : |
AGILENT TECHNOLOGIES |
|
|
|
|
Registered Office : |
480, Lorong 6, Toa Payoh, 16 - 01, Hdb Hub, 310480 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.10.2013 |
|
|
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|
Date of Incorporation : |
13.08.1999 |
|
|
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|
Com. Reg. No.: |
199904761-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading in Electronic Tester and Measurements |
|
|
|
|
No. of Employees : |
260 [2014] |
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 |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 in
2011-13, 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. 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 |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
199904761-K |
||||
|
COMPANY NAME |
: |
AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD. |
||||
|
FORMER NAME |
: |
AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE LTD |
||||
|
INCORPORATION DATE |
: |
13/08/1999 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
480, LORONG 6, TOA PAYOH, 16 - 01, HDB HUB, 310480, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1 YISHUN AVENUE 7, 768923, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63771688 |
||||
|
FAX.NO. |
: |
65-68518077 |
||||
|
WEB SITE |
: |
WWW.AGILENT.COM |
||||
|
CONTACT PERSON |
: |
CHEUNG KAM MAN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING IN ELECTRONIC TESTER AND MEASUREMENTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,310,734.00 ORDINARY SHARE, OF A VALUE OF SGD 54,350,551.97 |
||||
|
SALES |
: |
USD 1,588,253,000 [2013] |
||||
|
NET WORTH |
: |
USD 66,296,000 [2013] |
||||
|
STAFF STRENGTH |
: |
260 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND
The Subject 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 Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject 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 Subject is insolvent. The Subject 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 Subject is principally engaged in the (as a / as an) trading in
electronic tester and measurements.
The immediate holding company of the Subject is AGILENT TECHNOLOGIES
SINGAPORE (INTERNATIONAL) PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is AGILENT TECHNOLOGIES
INC., a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
25/03/2014 |
SGD 54,350,551.97 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD. |
480, LORONG 6, TOA PAYOH, 16 - 01, HDB HUB, 310480, SINGAPORE. |
200923087N |
1,310,734.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,310,734.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
200605928 |
SINGAPORE |
VARIAN TECHNOLOGIES PTE. LTD. |
100.00 |
31/10/2013 |
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHEUNG KAM MAN |
|
Address |
: |
370C, ALEXANDRA ROAD, 04-02, ANCHORAGE CONDOMINIUM, THE, 159956,
SINGAPORE. |
|
IC / PP No |
: |
S2683386H |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
24/08/2005 |
|
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|
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DIRECTOR 2
|
Name Of Subject |
: |
GOOI SOON CHAI |
|
Address |
: |
2, HALAMAN CANTONMENT, 10350 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A22777263 |
|
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|
|
|
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|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/10/2005 |
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DIRECTOR 3
|
Name Of Subject |
: |
CHEONG CHENG HUA |
|
Address |
: |
8, BUTTERWORTH, LANE 12-09, BUTTERWORTH 8, 439423, SINGAPORE. |
|
IC / PP No |
: |
S1695015G |
|
|
|
|
|
|
|
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|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/11/2013 |
|
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|
DIRECTOR 4
|
Name Of Subject |
: |
YANG ENG HUAT |
|
Address |
: |
119, MARSILING RISE, 06 - 132, 730119, SINGAPORE. |
|
IC / PP No |
: |
S1745013A |
|
|
|
|
|
|
|
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|
|
|
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|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
09/02/2004 |
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DIRECTOR 5
|
Name Of Subject |
: |
CHARLES CHEE ENG CHUAN |
|
Address |
: |
22, WILBY ROAD, 01 - 17, TESSARINA, THE, 276306, SINGAPORE. |
|
IC / PP No |
: |
S0035099J |
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|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
03/08/2007 |
|
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|
DIRECTOR 6
|
Name Of Subject |
: |
DANIEL MAK SENG FATT |
|
Address |
: |
803, UPPER SERANGOON ROAD, 02-10, D'PAVILION, 534163, SINGAPORE. |
|
IC / PP No |
: |
S6869369A |
|
|
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|
|
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|
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|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/11/2013 |
|
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MANAGEMENT
|
|
|
1) |
Name of Subject |
: |
CHEUNG KAM MAN |
|
|
Position |
: |
DIRECTOR |
|
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|
|
AUDITOR
|
Auditor |
: |
BDO LLP |
|
Auditor' Address |
: |
N/A |
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COMPANY SECRETARIES
|
1) |
Company Secretary |
: |
TAN LI HUANG MARY LYNNE |
|
|
IC / PP No |
: |
S1654258Z |
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Address |
: |
50, GOLDHILL AVENUE, 01-02, MOUNT ROSIE GARDEN, 309031, SINGAPORE. |
|
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BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
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ENCUMBRANCE (S)
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200303857 |
08/08/2003 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
LEGAL CHECK AGAINST SUBJECT
* A check has been conducted in our databank againt the Subject 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.
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
The Subject 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 |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
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Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
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Payment Mode |
: |
CHEQUES |
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OPERATIONS
|
Goods Traded |
: |
ELECTRONIC TESTER AND MEASUREMENTS
|
|
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|
|
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|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
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COMPANY |
260 |
260 |
|
|
|
|
|
|
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|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading in electronic
tester and measurements.
As the world's premier measurement company, Agilent offers the broadest range
of innovative measurement solutions in the industry. The company's four businesses
- Chemical Analysis, Life Sciences, Diagnostics and Genomics, and Electronic
Measurement - provide customers with products and services that make a real
difference in the lives of people everywhere.
Within life sciences & chemical analysis, its solutions are focused in the
following markets; Pharmaceutical companies, biotechnology companies, academic
and government laboratories, contract research organisations, contract
marketing organisations, energy & fuels, environmental, food safety, forensics,
bioagriculture and homeland security.
Its product areas are gas chromatography, liquid chromatography, mass
spectrometry, microarrays, squencing target enrichment, microfluidics, ICP-MS,
magnetic resonance, reagents, capillary electrophoresis, lab automation,
software and informatics, vacuum technology and consumables and services.
RECENT DEVELOPMENT
August 1, 2013
The Subject today announced that the 2013 Russell Varian Prize for Innovation
in Nuclear Magnetic Resonance has been awarded to Dr. Lucio Frydman, professor
and Kimmel Fellow at the Weizmann Institute of Science in Rehovot, Israel. Dr.
Frydman's seminal paper, "The Acquisition of Multidimensional NMR Spectra
within a Single Scan," introduces a unique technique for recording
multidimensional NMR spectra in a single scan, and describes the theoretical
basis and experimental realization of this ultrafast NMR methodology.
December 17, 2012
The Subject today introduced the industry's first eMMC (embedded multimedia
card) compliance test application for embedded storage solutions. The Subject's
N6465A eMMC test application helps memory design engineers validate and debug
eMMC NAND flash memory cards faster by automating the execution of a series of
parametric tests, including electrical and timing measurements, on Agilent
Infiniium 9000, 90000A, 90000 X- and 90000 Q-Series oscilloscopes.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63771688 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
NO. 1 YISHUN AVENUE 7, SINGAPORE 768923 |
|
Current Address |
: |
1 YISHUN AVENUE 7, 768923, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
3.14% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
4.02% |
] |
|
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|
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|
The continuous fall in turnover could be due to the lower demand for the
Subject's products / services.The Subject's management have been efficient in
controlling its operating costs. The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
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Working Capital Control |
|
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|
|
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|
Stock Ratio |
: |
Favourable |
[ |
14 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
38 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
80 Days |
] |
|
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|
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|
The Subject'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 Subject.
The unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
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Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.10 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.25 Times |
] |
|
|
|
|
|
|
|
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|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
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Solvency |
|
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|
|
|
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest during
the year. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
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Overall Assessment : |
|
|
|
|
|
|
|
Due to the efficient control of its operating costs, the Subject was able
to remain profitable despite lower turnover achieved during the year. The
Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
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|
|
|
|
|
|
|
|
Overall financial condition of the Subject : LIMITED |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
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) |
|
|
|
|
|
INDUSTRY ANALYSIS
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the
1.4% growth in 2011. Growth of the retail trade segment also moderated to
2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter
of 2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending
the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales
volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the
third quarter of 2012. The sales volume of motor vehicles fell by 11% in the
fourth quarter of 2012, after contracting by 6.1% in the third quarter. The
sales of several discretionary items also declined in the fourth quarter.
Besides, the sales of optical goods & books in 2012 fell by 3.6%, while
the sales of telecommunications apparatus & computers declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods &
toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year
End |
2013-10-31 |
2012-10-31 |
2011-10-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
|
|
|
|
|
TURNOVER |
1,588,253,000 |
1,590,329,000 |
1,595,736,000 |
|
Other Income |
1,232,000 |
1,063,000 |
777,000 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
1,589,485,000 |
1,591,392,000 |
1,596,513,000 |
|
Costs of Goods Sold |
(1,372,234,000) |
(1,395,498,000) |
(1,395,263,000) |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
217,251,000 |
195,894,000 |
201,250,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
4,177,000 |
3,596,000 |
3,854,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
4,177,000 |
3,596,000 |
3,854,000 |
|
Taxation |
(2,093,000) |
(893,000) |
(557,000) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
2,084,000 |
2,703,000 |
3,297,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
2,084,000 |
2,703,000 |
3,297,000 |
|
Extraordinary items |
- |
- |
(146,000) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
2,084,000 |
2,703,000 |
3,151,000 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
14,261,000 |
11,558,000 |
8,407,000 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
14,261,000 |
11,558,000 |
8,407,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
16,345,000 |
14,261,000 |
11,558,000 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
16,345,000 |
14,261,000 |
11,558,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
948,000 |
2,110,000 |
1,928,000 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
948,000 |
2,110,000 |
1,928,000 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Stocks |
60,694,000 |
62,327,000 |
70,160,000 |
|
Trade debtors |
164,026,000 |
174,740,000 |
204,303,000 |
|
Other debtors, deposits & prepayments |
824,000 |
955,000 |
921,000 |
|
Short term loan to financial institutions |
- |
- |
3,922,000 |
|
Deposits with financial institutions |
4,997,000 |
5,328,000 |
- |
|
Amount due from related companies |
284,556,000 |
278,993,000 |
175,856,000 |
|
Cash & bank balances |
1,388,000 |
1,565,000 |
1,607,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
516,485,000 |
523,908,000 |
456,769,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
517,433,000 |
526,018,000 |
458,697,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Trade creditors |
300,172,000 |
304,385,000 |
247,418,000 |
|
Other creditors & accruals |
100,457,000 |
98,316,000 |
91,735,000 |
|
Deposits from customers |
12,055,000 |
11,122,000 |
8,316,000 |
|
Provision for taxation |
885,000 |
42,000 |
2,521,000 |
|
Other liabilities |
1,000 |
19,000 |
17,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
413,570,000 |
413,884,000 |
350,007,000 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
102,915,000 |
110,024,000 |
106,762,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
103,863,000 |
112,134,000 |
108,690,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
47,085,000 |
47,085,000 |
47,085,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
47,085,000 |
47,085,000 |
47,085,000 |
|
|
|
|
|
|
RESERVES |
|
|
|
|
Exchange equalisation/fluctuation reserve |
- |
- |
11,000 |
|
Retained profit/(loss) carried forward |
16,345,000 |
14,261,000 |
11,558,000 |
|
Others |
2,866,000 |
2,892,000 |
2,675,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
19,211,000 |
17,153,000 |
14,244,000 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
66,296,000 |
64,238,000 |
61,329,000 |
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
Deferred taxation |
132,000 |
306,000 |
160,000 |
|
Others |
37,435,000 |
47,590,000 |
47,201,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
37,567,000 |
47,896,000 |
47,361,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
103,863,000 |
112,134,000 |
108,690,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
TYPES OF FUNDS |
|
|
|
|
Cash |
1,388,000 |
1,565,000 |
1,607,000 |
|
Net Liquid Funds |
1,388,000 |
1,565,000 |
1,607,000 |
|
Net Liquid Assets |
42,221,000 |
47,697,000 |
36,602,000 |
|
Net Current Assets/(Liabilities) |
102,915,000 |
110,024,000 |
106,762,000 |
|
Net Tangible Assets |
103,863,000 |
112,134,000 |
108,690,000 |
|
Net Monetary Assets |
4,654,000 |
(199,000) |
(10,759,000) |
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
451,137,000 |
461,780,000 |
397,368,000 |
|
Total Assets |
517,433,000 |
526,018,000 |
458,697,000 |
|
Net Assets |
103,863,000 |
112,134,000 |
108,690,000 |
|
Net Assets Backing |
66,296,000 |
64,238,000 |
61,329,000 |
|
Shareholders' Funds |
66,296,000 |
64,238,000 |
61,329,000 |
|
Total Share Capital |
47,085,000 |
47,085,000 |
47,085,000 |
|
Total Reserves |
19,211,000 |
17,153,000 |
14,244,000 |
|
LIQUIDITY (Times) |
|
|
|
|
Cash Ratio |
0.00 |
0.00 |
0.00 |
|
Liquid Ratio |
1.10 |
1.12 |
1.10 |
|
Current Ratio |
1.25 |
1.27 |
1.31 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
14 |
14 |
16 |
|
Debtors Ratio |
38 |
40 |
47 |
|
Creditors Ratio |
80 |
80 |
65 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
6.80 |
7.19 |
6.48 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
2.21 |
2.38 |
2.31 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
0.26 |
0.23 |
0.24 |
|
Net Profit Margin |
0.13 |
0.17 |
0.21 |
|
Return On Net Assets |
4.02 |
3.21 |
3.55 |
|
Return On Capital Employed |
4.02 |
3.21 |
3.55 |
|
Return On Shareholders' Funds/Equity |
3.14 |
4.21 |
5.38 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.