|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DU PONT COMPANY ( |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.08.2002 |
|
|
|
|
Com. Reg. No.: |
200207203-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture of Other Biological Products and Preparations for Human
Use |
|
|
|
|
No. of Employees : |
300 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 0.6% in 2009 as a result of the global financial crisis, but
rebounded 15.1% 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 |
|
REGISTRATION NO. |
: |
200207203-C |
|
COMPANY NAME |
: |
DU PONT COMPANY
(SINGAPORE) PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
19/08/2002 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT,
TOWER ONE, 098633, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT
TOWER ONE, 098633, SINGAPORE. |
|
TEL.NO. |
: |
65-65863688 |
|
FAX.NO. |
: |
65-62727494 |
|
WEB SITE |
: |
WWW.DUPONT.COM.SG |
|
CONTACT PERSON |
: |
HSING CHAN HO ( MANAGING DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF OTHER BIOLOGICAL PRODUCTS
AND PREPARATIONS FOR HUMAN USE |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
44,844,029.00 ORDINARY SHARE, OF A VALUE
OF SGD 111,177,780.00 |
|
|
|
|
|
SALES |
: |
USD 1,335,162,000 [2012] |
|
NET WORTH |
: |
USD 1,276,770,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
300 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacture of
other biological products and preparations for human use.
The immediate holding company of the Subject is DU PONT CHEMICAL AND
ENERGY OPERATIONS, INC, a company incorporated in UNITED STATES.
The ultimate holding company of the Subject is E.I. DU PONT DE NEMOURS
AND COMPANY, a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
12/08/2014 |
SGD 111,177,780.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DU PONT CHEMICAL AND ENERGY OPERATIONS,
INC |
D-8045, 1007 MARKET STREET, WILMINGTON,
DELAWARE, 19898, UNITED STATES OF AMERICA, UNITED STATES. |
T03UF0807 |
44,844,029.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
44,844,029.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
105619P |
MALAYSIA |
DANISCO MALAYSIA SDN. BHD. |
100.00 |
30/05/2014 |
|
|
|
|
|
|
|
199600005Z |
SINGAPORE |
DANISCO SINGAPORE PTE. LTD. |
100.00 |
19/03/2014 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
LIM CHER TONG |
|
Address |
: |
1, OXLEY RISE, 09-04, ONE OXLEY RISE,
238714, SINGAPORE. |
|
IC / PP No |
: |
S2550549B |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
19/08/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
HSING CHAN HO |
|
Address |
: |
15, LEWIS ROAD, 258600, SINGAPORE. |
|
IC / PP No |
: |
S2173034C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/05/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
YONG WUI POH |
|
Address |
: |
512, BUKIT BATOK STREET 52, 04-522,
650512, SINGAPORE. |
|
IC / PP No |
: |
S2620868H |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
14/08/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
HSING CHAN HO |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
PRICEWATER HOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
LIM I-AN CHRISTOPHER JR. |
|
|
IC / PP No |
: |
S7107421H |
|
|
|
|
|
|
|
Address |
: |
57A, DUCHESS AVENUE, 269122, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
LIM CHOON MUI |
|
|
IC / PP No |
: |
S7044728B |
|
|
|
|
|
|
|
Address |
: |
12, JALAN RENGKAM, TAI PENG GARDENS,
537569, 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 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
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 |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
300 |
300 |
300 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of other
biological products and preparations for human use.
The Subject manufacture and sale chemical products such as polymers and zytel
resin.
Industries served:
* agriculture
* building and construction
* electronics
* energy and utilities
* health care and medical
* manufacturing
* packaging and graphic arts
* plastics
* safety and protection
* transportation
The Subject is a member of the following entities:
* Singapore international chamber of commerce
* Singapore chemical industry council
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65863688 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT
TOWER ONE,098633 SINGAPORE |
|
Current Address |
: |
1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT
TOWER ONE, 098633, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other
Investigations
On 12th August 2014 we contacted one of the staff from the Subject and she
provided some information on the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2010 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.63% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
22.64% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The dip in
profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable return
for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Unfavourable |
[ |
67 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
59 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity
problems. The Subject's management was quite efficient in handling its debtors.
The Subject's debtors days were at an acceptable range, thus the risk of its
debts turning bad was minimised. The Subject had a favourable creditors'
ratio where the Subject could be taking advantage of the cash discounts and
also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
2.86 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.36 Times |
] |
|
|
|
|
|
|
|
|
|
|
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. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
43.41 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject
was able to service the interest. The favourable interest cover could
indicate that the Subject was making enough profit to pay for the interest
accrued. 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. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment : |
|
|
|
|
|
|
|
The Subject recorded lower profits as its
turnover showed a erratic trend. The Subject's management was unable to control
its costs efficiently as its profit showed a downward trend. 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. With the favourable interest cover,
the Subject could be able to service all the accrued interest without facing
any difficulties. 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. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : STRONG |
||||||
|
Major Economic
Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( %
of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production
(2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The manufacturing sector contracted by
1.1% in the fourth quarter of 2012, led by declines in the electronics and
precision engineering clusters. These clusters were weighed down by weak
global demand for semiconductors and semiconductor-related equipment. For the
whole year of 2012, the manufacturing sector grew by 0.1%, significantly
lower than the 7.8% recorded in 2011 when the sector was boosted by a surge
in the growth of the biomedical manufacturing cluster. |
|
|
|
|
|
Output of the biomedical manufacturing
cluster grew by 2.4% in the fourth quarter. The expansion was driven by the
medical technology segment which grew by a healthy 9.2%, benefitting from
robust export demand for medical devices. The pharmaceuticals segment also
grew by a modest 1.1%. For 2012, the biomedical manufacturing cluster
expanded by 9.9%. |
|
|
|
|
|
Output of the transport engineering
cluster expanded by 4.9% in the fourth quarter. The aerospace segment grew by
6.2%, supported by higher demand for repair jobs from commercial airlines.
Similarly, the marine & offshore engineering segment expanded by 5.0%, on
the back of higher contributions from oil rig projects and oilfield equipment
components. In the year 2012, the transport engineering cluster surged by
11%. |
|
|
|
|
|
The output of the precision engineering
cluster shrank by 1.3% in the fourth quarter. The decline was led by the 5.3%
contraction in the machinery & systems segment, which saw weak export
demand for semiconductor-related equipment. On the other hand, the precision
modules & components segment grew by 2.9%, supported by higher production
of optical instruments & photographic equipment and electronic
connectors. In 2012, the precision engineering cluster expanded by 1.3%. |
|
|
|
|
|
The general manufacturing cluster's output
grew by 1.2% in the fourth quarter, driven by the 6.4% growth in the
miscellaneous industries segment. The segment's growth was supported by
higher production of batteries and constructionrelated materials. By
contrast, the printing and food, beverages & tobacco segments declined by
6.4% and 1.3% respectively. For 2012, the general manufacturing cluster grew
by 2.0%. |
|
|
|
|
|
The chemicals cluster's output grew by 7.7%
in the fourth quarter. The petrochemicals and petroleum segments registered
growth of 9.3% and 6.3% respectively, partly due to the low base from plant
shutdowns in end of 2011. The specialty chemicals segment also expanded by
8.0% on the back of higher regional demand. For the year 2012, the chemicals
cluster declined by 0.4%, primarily due to weak regional demand for specialty
chemicals in the second and third quarter of 2012. |
|
|
|
|
|
Output of the electronics cluster
contracted by 10% in the fourth quarter, led by the semiconductors and
computer peripherals segments which contracted by 13% and 15% respectively.
By contrast, the data storage segment grew by 7.8%, mainly due to the low
base in end of 2011 when floods in Thailand had disrupted the supply chain
for data storage products. For the whole of 2012, the electronics cluster
contracted by 11%. |
|
|
|
|
|
OVERALL INDUSTRY
OUTLOOK : MATURE |
|
|
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
DU PONT COMPANY
(SINGAPORE) PTE. LTD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
1,335,162,000 |
1,427,581,000 |
1,192,428,000 |
|
Other Income |
53,329,000 |
49,063,000 |
82,283,000 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
1,388,491,000 |
1,476,644,000 |
1,274,711,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
282,748,000 |
323,538,000 |
283,923,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
282,748,000 |
323,538,000 |
283,923,000 |
|
Taxation |
(6,569,000) |
(7,876,000) |
(7,967,000) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
276,179,000 |
315,662,000 |
275,956,000 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
924,682,000 |
609,020,000 |
353,064,000 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
924,682,000 |
609,020,000 |
353,064,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,200,861,000 |
924,682,000 |
629,020,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
(20,000,000) |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,200,861,000 |
924,682,000 |
609,020,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
|
Hire purchase |
- |
- |
3,000 |
|
Lease interest |
2,000 |
7,000 |
- |
|
Others |
6,665,000 |
4,504,000 |
10,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
6,667,000 |
4,511,000 |
13,000 |
|
|
============= |
============= |
============= |
|
DU PONT COMPANY
(SINGAPORE) PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
52,910,000 |
39,849,000 |
31,174,000 |
|
|
|
|
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
|
|
Subsidiary companies |
75,556,000 |
- |
- |
|
Deferred assets |
- |
- |
1,850,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
75,556,000 |
- |
1,850,000 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
128,466,000 |
39,849,000 |
33,024,000 |
|
|
|
|
|
|
Stocks |
245,779,000 |
165,227,000 |
106,409,000 |
|
Trade debtors |
229,686,000 |
204,145,000 |
205,738,000 |
|
Other debtors, deposits & prepayments |
12,503,000 |
4,884,000 |
3,051,000 |
|
Short term deposits |
50,005,000 |
105,033,000 |
115,021,000 |
|
Amount due from holding company |
- |
- |
2,875,000 |
|
Amount due from related companies |
981,897,000 |
822,801,000 |
304,049,000 |
|
Cash & bank balances |
116,874,000 |
10,158,000 |
104,766,000 |
|
Others |
- |
21,000 |
2,104,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,636,744,000 |
1,312,269,000 |
844,013,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,765,210,000 |
1,352,118,000 |
877,037,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
Trade creditors |
215,344,000 |
148,532,000 |
84,231,000 |
|
Other creditors & accruals |
50,764,000 |
17,250,000 |
27,215,000 |
|
Amounts owing to holding company |
21,259,000 |
16,208,000 |
50,214,000 |
|
Amounts owing to related companies |
194,615,000 |
182,081,000 |
47,502,000 |
|
Provision for taxation |
5,142,000 |
3,180,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
487,124,000 |
367,251,000 |
209,162,000 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,149,620,000 |
945,018,000 |
634,851,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,278,086,000 |
984,867,000 |
667,875,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
75,909,000 |
58,855,000 |
58,855,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
75,909,000 |
58,855,000 |
58,855,000 |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
1,200,861,000 |
924,682,000 |
609,020,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
1,200,861,000 |
924,682,000 |
609,020,000 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,276,770,000 |
983,537,000 |
667,875,000 |
|
|
|
|
|
|
Deferred taxation |
1,316,000 |
1,330,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1,316,000 |
1,330,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
1,278,086,000 |
984,867,000 |
667,875,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
DU PONT COMPANY
(SINGAPORE) PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
166,879,000 |
115,191,000 |
219,787,000 |
|
Net Liquid Funds |
166,879,000 |
115,191,000 |
219,787,000 |
|
Net Liquid Assets |
903,841,000 |
779,791,000 |
528,442,000 |
|
Net Current Assets/(Liabilities) |
1,149,620,000 |
945,018,000 |
634,851,000 |
|
Net Tangible Assets |
1,278,086,000 |
984,867,000 |
667,875,000 |
|
Net Monetary Assets |
902,525,000 |
778,461,000 |
528,442,000 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
488,440,000 |
368,581,000 |
209,162,000 |
|
Total Assets |
1,765,210,000 |
1,352,118,000 |
877,037,000 |
|
Net Assets |
1,278,086,000 |
984,867,000 |
667,875,000 |
|
Net Assets Backing |
1,276,770,000 |
983,537,000 |
667,875,000 |
|
Shareholders' Funds |
1,276,770,000 |
983,537,000 |
667,875,000 |
|
Total Share Capital |
75,909,000 |
58,855,000 |
58,855,000 |
|
Total Reserves |
1,200,861,000 |
924,682,000 |
609,020,000 |
|
LIQUIDITY
(Times) |
|
|
|
|
Cash Ratio |
0.34 |
0.31 |
1.05 |
|
Liquid Ratio |
2.86 |
3.12 |
3.53 |
|
Current Ratio |
3.36 |
3.57 |
4.04 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
Stock Ratio |
67 |
42 |
33 |
|
Debtors Ratio |
63 |
52 |
63 |
|
Creditors Ratio |
59 |
38 |
26 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.38 |
0.37 |
0.31 |
|
Times Interest Earned Ratio |
43.41 |
72.72 |
21,841.23 |
|
Assets Backing Ratio |
16.84 |
16.73 |
11.35 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
Operating Profit Margin |
21.18 |
22.66 |
23.81 |
|
Net Profit Margin |
20.69 |
22.11 |
23.14 |
|
Return On Net Assets |
22.64 |
33.31 |
42.51 |
|
Return On Capital Employed |
22.64 |
33.31 |
42.51 |
|
Return On Shareholders' Funds/Equity |
21.63 |
32.09 |
41.32 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.07 |
|
NOTES TO
ACCOUNTS |
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.