|
Report Date : |
15.02.2014 |
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) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
31.12.2010 |
|
|
|
|
Com. Reg. No.: |
T10FC0158-J |
|
|
|
|
Legal Form : |
Foreign Company |
|
|
|
|
Line of Business : |
Subject is principally engaged in 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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
|
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 |
: |
238 A THOMSON ROAD, 21-01-10 NOVENA SQUARE TOWER A, 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 5,857,180,000 [2013] |
|
NET WORTH |
: |
SGD 647,051,000 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY / BACKGROUND
|
The Subject is principally engaged in the (as a / as an) business and management consultancy services.
The immediate and ultimate holding company of the Subject is THE PROCTER & GAMBLE COMPANY, a company incorporated in UNITED STATES.
No shareholders was found in our databank at the time of investigation
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KLAUS LINDNER |
|
Address |
: |
CHEMIN DE LA GRADELLE 18, 1224, CHENE-BOUGERIES, SWITZERLAND. |
|
IC / PP No |
: |
CFTF98XN3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/08/2004 |
|
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|
DIRECTOR 2
|
Name Of Subject |
: |
GIOVANNI CISERANI |
|
Address |
: |
ROUTE DU JURA 17, 1296, COPPET, SWITZERLAND. |
|
IC / PP No |
: |
B434044 |
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|
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|
|
|
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|
|
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|
|
|
Nationality |
: |
ITALIAN |
|
Date of Appointment |
: |
01/07/2007 |
|
|
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|
|
DIRECTOR 3
|
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 |
|
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|
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|
|
DIRECTOR 4
|
Name Of Subject |
: |
PETER WINSTON GRIFFIN |
|
Address |
: |
15, CHEMIN DES VOIRONS, 1224, CHENE-BOUGERIES, SWITZERLAND. |
|
IC / PP No |
: |
707392530 |
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|
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Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
31/03/2011 |
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|
|
|
1) |
Name of Subject |
: |
KLAUS LINDNER |
|
|
Position |
: |
DIRECTOR |
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
EDWARD DRACY HUNTER |
|
|
IC / PP No |
: |
G5726925T |
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|
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Address |
: |
11, ARDMORE PARK, 15-01, ARDMORE PARK, 259957, SINGAPORE. |
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|
Remarks |
: |
AGENT |
|
|
|
|
|
|
2) |
Company Secretary |
: |
QIU ZHONGQIANG |
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|
IC / PP No |
: |
G6284455N |
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|
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|
|
|
Address |
: |
7, ANTHONY ROAD, 07-28, ORCHARD SCOTTS, 229955, SINGAPORE. |
|
|
|
|
|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
3) |
Company Secretary |
: |
CHARLES ABDI LIM |
|
|
IC / PP No |
: |
S2723258B |
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|
|
|
|
|
|
Address |
: |
2, FIFTH AVENUE, 04-03, FIFTH AVENUE CONDOMINIUM , 268800, SINGAPORE. |
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|
|
|
Remarks |
: |
AGENT |
|
|
|
|
|
|
4) |
Company Secretary |
: |
HATSUNORI KIRIYAMA |
|
|
IC / PP No |
: |
G5916041P |
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Address |
: |
21, NASSIM ROAD, 02-20, NASSIM PARK RESIDENCES, 258462, SINGAPORE. |
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|
|
|
Remarks |
: |
AGENT |
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|
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5) |
Company Secretary |
: |
NICOLAS ANTHONY MARIE FRANCIS DEFAUW |
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|
IC / PP No |
: |
G5294223W |
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|
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Address |
: |
6, BIN TONG PARK, 269789, SINGAPORE. |
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Remarks |
: |
AGENT |
|
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|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
|
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.
|
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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
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Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
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Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
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Payment Mode |
: |
CHEQUES |
|||
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OPERATIONS
|
|
Services |
: |
BUSINESS AND MANAGEMENT CONSULTANCY SERVICES
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject 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.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68245000 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
238 A THOMSON ROAD, 21-01-10 NOVENA SQUARE TOWER A SINGAPORE 307684 |
|
Current Address |
: |
238 A THOMSON ROAD, 21-01-10 NOVENA SQUARE TOWER A, 307684, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
20.18% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
3.08% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
84.39% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
72.00% |
] |
|
|
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|
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|
|
The higher turnover could be attributed to the favourable market condition and the Subject could be gaining the market share progressively.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. Generally the Subject was profitable. The favourable return on shareholders' funds and return on net assets indicate that the Subject's management was efficient in utilising the assets to generate returns. |
||||||
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Working Capital Control |
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|
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Stock Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
|
|
|
|
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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 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. |
||||||
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Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.03 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.29 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 |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
4,089.41 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. |
||||||
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|
Overall Assessment : |
|
|
|
|
|
|
|
Although the Subject's turnover had increased, its profits had declined over the same corresponding period. This could be due to the stiffer market competition and / or higher operating costs which lowered the Subject's profit margin. 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. |
||||||
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|
Overall financial condition of the Subject : STABLE |
||||||
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) |
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INDUSTRY : |
ECONOMY |
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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 |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
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|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
PROCTER & GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
|
Financial Year End |
2013-06-30 |
2012-06-30 |
|
Months |
12 |
18 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
|
|
|
|
TURNOVER |
5,857,180,000 |
4,873,789,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
5,857,180,000 |
4,873,789,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
547,847,000 |
565,258,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
547,847,000 |
565,258,000 |
|
Taxation |
(1,824,000) |
1,148,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
546,023,000 |
566,406,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
563,962,000 |
- |
|
|
---------------- |
---------------- |
|
As restated |
563,962,000 |
- |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,109,985,000 |
566,406,000 |
|
TRANSFER TO RESERVES - General |
(525,440,000) |
(2,444,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
584,545,000 |
563,962,000 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Others |
134,000 |
167,000 |
|
|
---------------- |
---------------- |
|
|
134,000 |
167,000 |
|
|
============= |
============= |
BALANCE SHEET
|
|
PROCTER & GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
275,019,000 |
122,439,000 |
|
|
|
|
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LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Deferred assets |
5,704,000 |
1,817,000 |
|
Others |
21,878,000 |
28,141,000 |
|
|
---------------- |
---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
27,582,000 |
29,958,000 |
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INTANGIBLE ASSETS |
|
|
|
Trademarks |
24,092,000 |
27,305,000 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
24,092,000 |
27,305,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
326,693,000 |
179,702,000 |
|
|
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CURRENT ASSETS |
|
|
|
Stocks |
383,946,000 |
338,866,000 |
|
Trade debtors |
895,248,000 |
612,313,000 |
|
Other debtors, deposits & prepayments |
135,529,000 |
99,422,000 |
|
Amount due from related companies |
466,878,000 |
711,466,000 |
|
Cash & bank balances |
46,113,000 |
31,745,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,927,714,000 |
1,793,812,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
2,254,407,000 |
1,973,514,000 |
|
|
============= |
============= |
|
|
|
|
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CURRENT LIABILITIES |
|
|
|
Trade creditors |
677,006,000 |
632,119,000 |
|
Other creditors & accruals |
104,527,000 |
70,727,000 |
|
Amounts owing to related companies |
695,798,000 |
257,862,000 |
|
Provision for taxation |
1,929,000 |
669,000 |
|
Other liabilities |
14,021,000 |
11,465,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,493,281,000 |
972,842,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
434,433,000 |
820,970,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
761,126,000 |
1,000,672,000 |
|
|
============= |
============= |
|
|
|
|
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SHARE CAPITAL |
|
|
|
HEAD OFFICE ACCOUNT |
50,207,000 |
391,207,000 |
|
|
|
|
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RESERVES |
|
|
|
Capital reserve |
12,299,000 |
9,160,000 |
|
Retained profit/(loss) carried forward |
584,545,000 |
563,962,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
596,844,000 |
573,122,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
647,051,000 |
964,329,000 |
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
Retirement benefits provision |
114,075,000 |
36,343,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
114,075,000 |
36,343,000 |
|
|
---------------- |
---------------- |
|
|
761,126,000 |
1,000,672,000 |
|
|
============= |
============= |
|
|
|
|
FINANCIAL RATIO
|
|
PROCTER & GAMBLE INTERNATIONAL OPERATIONS SA SINGAPORE BRANCH |
|
TYPES OF FUNDS |
|
|
|
Cash |
46,113,000 |
31,745,000 |
|
Net Liquid Funds |
46,113,000 |
31,745,000 |
|
Net Liquid Assets |
50,487,000 |
482,104,000 |
|
Net Current Assets/(Liabilities) |
434,433,000 |
820,970,000 |
|
Net Tangible Assets |
737,034,000 |
973,367,000 |
|
Net Monetary Assets |
(63,588,000) |
445,761,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
1,607,356,000 |
1,009,185,000 |
|
Total Assets |
2,254,407,000 |
1,973,514,000 |
|
Net Assets |
761,126,000 |
1,000,672,000 |
|
Net Assets Backing |
647,051,000 |
964,329,000 |
|
Shareholders' Funds |
647,051,000 |
964,329,000 |
|
Total Share Capital |
0 |
0 |
|
Total Reserves |
596,844,000 |
573,122,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.03 |
0.03 |
|
Liquid Ratio |
1.03 |
1.50 |
|
Current Ratio |
1.29 |
1.84 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
24 |
25 |
|
Debtors Ratio |
56 |
46 |
|
Creditors Ratio |
42 |
47 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
2.48 |
1.05 |
|
Times Interest Earned Ratio |
4,089.41 |
3,385.78 |
|
Assets Backing Ratio |
- |
- |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
9.35 |
11.60 |
|
Net Profit Margin |
9.32 |
11.62 |
|
Return On Net Assets |
72.00 |
56.50 |
|
Return On Capital Employed |
69.79 |
55.00 |
|
Return On Shareholders' Funds/Equity |
84.39 |
58.74 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.