MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
EMERSON PROCESS MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
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Formerly Known As : |
FISHER-ROSEMOUNT SINGAPORE PRIVATE LIMITED |
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Registered Office : |
1, |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
06.08.1965 |
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Com. Reg. No.: |
196500174-M |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturing of process measuring and analytical instruments, control
valves, regulators and distributed control system and management services |
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No. of Employees : |
1350 [2013] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
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REGISTRATION NO. |
: |
196500174-M |
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COMPANY NAME |
: |
EMERSON PROCESS MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
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FORMER NAME |
: |
FISHER-ROSEMOUNT SINGAPORE PRIVATE LIMITED (21/05/2002) |
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INCORPORATION DATE |
: |
06/08/1965 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
PRIVATE LIMITED |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
1, PANDAN CRESCENT, 128461, SINGAPORE. |
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BUSINESS ADDRESS |
: |
1 PANDAN CRESCENT, 128461, SINGAPORE. |
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TEL.NO. |
: |
65-67778211 |
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FAX.NO. |
: |
65-67770947 |
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EMAIL |
: |
ENQUIRIES@AP.EMERSONPROCESS.COM |
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WEB SITE |
: |
WWW.EMERSONPROCESS.COM |
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CONTACT PERSON |
: |
HO JUAN HENG ( DIRECTOR ) |
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PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF PROCESS MEASURING AND ANALYTICAL INSTRUMENTS, CONTROL
VALVES, REGULATORS AND DISTRIBUTED CONTROL SYSTEM AND MANAGEMENT SERVICES |
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ISSUED AND PAID UP CAPITAL |
: |
1,268,718.00 ORDINARY SHARE, OF A VALUE OF SGD 26,099,773.00 |
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SALES |
: |
USD 1,009,307,000 [2012] |
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NET WORTH |
: |
USD 582,504,000 [2012] |
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STAFF STRENGTH |
: |
1350 [2013] |
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LITIGATION |
: |
TRACED |
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FINANCIAL CONDITION |
: |
STRONG |
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PAYMENT |
: |
AVERAGE |
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MANAGEMENT CAPABILITY |
: |
GOOD |
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COMMERCIAL RISK |
: |
LOW |
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CURRENCY EXPOSURE |
: |
MODERATE |
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GENERAL REPUTATION |
: |
GOOD |
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INDUSTRY OUTLOOK |
: |
MATURE |
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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) manufacturing
of process measuring and analytical instruments, control valves, regulators and
distributed control system and management services.
The immediate holding company of the Subject is ROSEMOUNT INC, a company
incorporated in UNITED STATES.
The ultimate holding company of the Subject is EMERSON ELECTRIC CO., a
company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
26/12/2013 |
SGD 26,099,773.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ROSEMOUNT INC |
12001, TECHNOLOGY DR EDEN, PRAIRIE MINNESOTA, 55344, UNITED STATES. |
S65UF0019 |
1,268,718.00 |
100.00 |
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--------------- |
------ |
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1,268,718.00 |
100.00 |
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|
============ |
===== |
+ Also Director
The Subject interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
605079D |
MALAYSIA |
EMERSON PROCESS MANAGEMENT VALVE AUTOMATION (M) SDN. BHD. |
100.00 |
30/09/2012 |
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|
|
|
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|
400431P |
MALAYSIA |
EMERSON PROCESS MANAGEMENT MANUFACTURING (M) SDN. BHD. |
100.00 |
30/09/2012 |
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DIRECTOR 1
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Name Of Subject |
: |
GOH SAN KENG |
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Address |
: |
6, PANDAN VALLEY, 19 - 601, POINSETIA TOWER, 597630, SINGAPORE. |
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IC / PP No |
: |
S1171318A |
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Nationality |
: |
SINGAPOREAN |
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Date of Appointment |
: |
28/10/1991 |
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DIRECTOR 2
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Name Of Subject |
: |
MR. HO JUAN HENG |
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Address |
: |
7, KOVAN ROAD, 15 - 25, KOVAN RESIDENCES, 544896, SINGAPORE. |
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IC / PP No |
: |
S0073215Z |
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Nationality |
: |
SINGAPOREAN |
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Date of Appointment |
: |
28/10/1991 |
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1) |
Name of Subject |
: |
HO JUAN HENG |
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Position |
: |
DIRECTOR |
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Auditor |
: |
KPMG LLP |
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Auditor' Address |
: |
N/A |
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1) |
Company Secretary |
: |
LEONG YOKE YENG |
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IC / PP No |
: |
S1329872F |
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Address |
: |
123, CORONATION ROAD WEST, 269348, SINGAPORE. |
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Banking relations are maintained principally with :
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1) |
Name |
: |
JP MORGAN CHASE BANK N.A. |
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No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
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LEGAL ACTION |
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Code No |
: |
99 |
Case No |
: |
5330 |
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Year |
: |
2008 |
Place |
: |
SINGAPORE |
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Court |
: |
MAGISTRATE COURT |
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Date Filed |
: |
03/03/2008 |
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Solicitor |
: |
WONG SU-HSIEN AUDREY |
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Solicitor Ref |
: |
AW-INS-A5-49824-07-JG |
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Solicitor Firm |
: |
VISION LAW LLC |
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Plaintiff |
: |
TAN THIAN SOON |
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Defendants |
: |
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Amount Claimed |
: |
2687.15 |
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Nature of Claim |
: |
SGD |
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Remark |
: |
TORT - NEGLIGENCE |
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NOTE: |
Please check with creditors for confirmation as alleged debts may have
been paid since recorded or are being disputed. The person wo has been sued
has the same name as the subject. However, we are unable to determine whether
the person sued is the one and the same person. |
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No winding up petition was found in our databank |
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SOURCES OF RAW MATERIALS: |
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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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 :
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OVERALL PAYMENT HABIT |
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Prompt 0-30 Days |
[ |
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] |
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Good 31-60 Days |
[ |
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] |
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Average 61-90 Days |
[ |
X |
] |
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Fair 91-120 Days |
[ |
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] |
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Poor >120 Days |
[ |
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] |
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Local |
: |
YES |
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Domestic Markets |
: |
SINGAPORE |
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Overseas |
: |
YES |
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Export Market |
: |
ASIA PACIFIC |
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Credit Term |
: |
N/A |
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Payment Mode |
: |
N/A |
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Products manufactured |
: |
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Services |
: |
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Total Number of Employees: |
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YEAR |
2013 |
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GROUP |
N/A |
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COMPANY |
1350 |
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Branch |
: |
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Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of process
measuring and analytical instruments, control valves, regulators and
distributed control system and management services.
Background of emerson process group:
the world's largest instrument company, a
leading manufacturer and supplier of process measuring & analytical
instruments, control valves, regulators and distributed control systems.
subject has facilities that include assembly/manufacturing of transmitters and
control valves, stocking & training centre, system staging, integration &
software development centre, other services offered includes engineering
services & project management.
Subject engages in the following activities:
* leading manufacturer and supplier of process measuring & analytical
instruments, control valves, regulators and distributed control systems
Brand names:
* baumann valves
* contek steam conditioning
* daniel measurement & control ultrasonic flow/orifice flow/turbine,
control valve compact meter provers,
flow measurement solutions
* fisher controls regulators, valves
* francel regulators
* gulde valves
* posi-seal valves
* rosemount pressure, temperature, temp. sensors
(rid & t/c), flow, htg, level,
instruments, vortex & mag.
Distributor/agent for:
* fisher-rosemount systems inc
- control systems
* brooks instrument division
- thermal mass meter/controller & coriolis
- flow controller, variable area flow meter, oval gear pd
* micro motion inc
- mass flowmeters, density, viscosity & gas flow measurement
* rosemount analytical inc
- gas, liquid, lab, combustion analysers
Industries served:
* chemical
* oil and gas
* pulp and paper
* pharmaceutical
* food and beverage
* power
* water and wastewater
* other process-related industries
Subject is a member of the following entity:
* american chamber of commerce
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
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Current Telephone Number |
: |
65-67778211 |
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Match |
: |
N/A |
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Address Provided by Client |
: |
1 PANDEN CRESCENT SINGAPORE 128461 |
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Current Address |
: |
1 PANDAN CRESCENT, 128461, SINGAPORE. |
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Match |
: |
YES |
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Other Investigations
On 24th December 2013 we contacted one of the staff from the Subject and she
provided some information.
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Profitability |
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Turnover |
: |
Increased |
[ |
17.18% |
] |
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Profit/(Loss) Before Tax |
: |
Increased |
[ |
6.48% |
] |
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Return on Shareholder Funds |
: |
Acceptable |
[ |
20.00% |
] |
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Return on Net Assets |
: |
Acceptable |
[ |
21.24% |
] |
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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 Subject's
management have been efficient in controlling its operating costs. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
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Working Capital Control |
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Stock Ratio |
: |
Favourable |
[ |
17 Days |
] |
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Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
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Creditors Ratio |
: |
Unfavourable |
[ |
72 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
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 |
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Liquid Ratio |
: |
Favourable |
[ |
2.46 Times |
] |
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Current Ratio |
: |
Favourable |
[ |
2.60 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 |
: |
Favourable |
[ |
5,385.48 Times |
] |
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Gearing Ratio |
: |
Favourable |
[ |
0.02 Times |
] |
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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 was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
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Overall Assessment : |
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Generally, the Subject's performance has improved with higher turnover
and profit. 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 as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
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Overall financial condition of the Subject : STRONG |
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Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
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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 |
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Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
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Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
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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 |
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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 |
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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> |
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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 |
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INDUSTRIES ( % of Growth ) : |
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Agriculture |
|
|
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|
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> |
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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 : |
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 |
|
|
Incorporated in 1965, the Subject is a Private Limited company,
focusing on manufacturing of process measuring and analytical instruments,
control valves, regulators and distributed control system and management
services. With a history coming to almost half a century, its long
establishment in the market has allowed the Subject to build up a good
reputation and gain higher market share over its rivals. Having strong
support from its shareholder has enabled the Subject to remain competitive
despite the challenging business environment. The Subject is a large entity
with strong capital position. We are confident with the Subject's business
and its future growth prospect.
. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year End |
2012-09-30 |
2011-09-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
Unit |
|
|
|
|
|
|
|
TURNOVER |
1,009,307,000 |
861,362,000 |
|
Other Income |
5,543,000 |
6,098,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
1,014,850,000 |
867,460,000 |
|
Costs of Goods Sold |
<777,058,000> |
<649,317,000> |
|
|
---------------- |
---------------- |
|
Gross Profit |
237,792,000 |
218,143,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
123,843,000 |
116,301,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
123,843,000 |
116,301,000 |
|
Taxation |
<7,340,000> |
<5,988,000> |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
116,503,000 |
110,313,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
489,700,000 |
424,387,000 |
|
|
---------------- |
---------------- |
|
As restated |
489,700,000 |
424,387,000 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
606,203,000 |
534,700,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
<40,000,000> |
<45,000,000> |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
566,203,000 |
489,700,000 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Others |
23,000 |
10,000 |
|
|
23,000 |
10,000 |
|
EMERSON PROCESS MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
|
|
|
|
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
32,829,000 |
31,203,000 |
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
12,287,000 |
12,401,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
12,287,000 |
12,401,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
45,116,000 |
43,604,000 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
47,756,000 |
33,056,000 |
|
Trade debtors |
172,880,000 |
110,571,000 |
|
Other debtors, deposits & prepayments |
5,284,000 |
4,260,000 |
|
Short term deposits |
17,000,000 |
21,944,000 |
|
Amount due from related companies |
620,722,000 |
593,297,000 |
|
Cash & bank balances |
10,433,000 |
7,561,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
874,075,000 |
770,689,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
919,191,000 |
814,293,000 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
153,650,000 |
117,968,000 |
|
Other creditors & accruals |
40,985,000 |
42,044,000 |
|
Bill & acceptances payable |
10,988,000 |
23,734,000 |
|
Amounts owing to related companies |
117,348,000 |
108,747,000 |
|
Provision for taxation |
7,773,000 |
8,517,000 |
|
Other liabilities |
5,200,000 |
6,397,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
335,944,000 |
307,407,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
538,131,000 |
463,282,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
583,247,000 |
506,886,000 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
15,091,000 |
15,091,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
15,091,000 |
15,091,000 |
|
|
|
|
|
RESERVES |
|
|
|
Revaluation reserve |
1,210,000 |
1,210,000 |
|
Retained profit/(loss) carried forward |
566,203,000 |
489,700,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
567,413,000 |
490,910,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
582,504,000 |
506,001,000 |
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
Deferred taxation |
743,000 |
885,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
743,000 |
885,000 |
|
|
---------------- |
---------------- |
|
|
583,247,000 |
506,886,000 |
|
|
============= |
============= |
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
Cash |
27,433,000 |
29,505,000 |
|
Net Liquid Funds |
16,445,000 |
5,771,000 |
|
Net Liquid Assets |
490,375,000 |
430,226,000 |
|
Net Current Assets/(Liabilities) |
538,131,000 |
463,282,000 |
|
Net Tangible Assets |
583,247,000 |
506,886,000 |
|
Net Monetary Assets |
489,632,000 |
429,341,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
10,988,000 |
23,734,000 |
|
Total Liabilities |
336,687,000 |
308,292,000 |
|
Total Assets |
919,191,000 |
814,293,000 |
|
Net Assets |
583,247,000 |
506,886,000 |
|
Net Assets Backing |
582,504,000 |
506,001,000 |
|
Shareholders' Funds |
582,504,000 |
506,001,000 |
|
Total Share Capital |
15,091,000 |
15,091,000 |
|
Total Reserves |
567,413,000 |
490,910,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.08 |
0.10 |
|
Liquid Ratio |
2.46 |
2.40 |
|
Current Ratio |
2.60 |
2.51 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
17 |
14 |
|
Debtors Ratio |
63 |
47 |
|
Creditors Ratio |
72 |
66 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.02 |
0.05 |
|
Liabilities Ratio |
0.58 |
0.61 |
|
Times Interest Earned Ratio |
5,385.48 |
11,631.10 |
|
Assets Backing Ratio |
38.65 |
33.59 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
12.27 |
13.50 |
|
Net Profit Margin |
11.54 |
12.81 |
|
Return On Net Assets |
21.24 |
22.95 |
|
Return On Capital Employed |
21.24 |
22.95 |
|
Return On Shareholders' Funds/Equity |
20.00 |
21.80 |
|
Dividend Pay Out Ratio (Times) |
0.34 |
0.41 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
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.