|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIKRON |
|
|
|
|
Formerly Known As : |
INTEGRAL SYSTEMS PTE LTD |
|
|
|
|
Registered Office : |
3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.05.1997 |
|
|
|
|
Com. Reg. No.: |
199703612-Z |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Engaged in manufacturing and repairing of Automation, Lifting and Handling Equipment. Subject
offers customers a wide range
of Standard Machines and Customized Automation Solutions for the
Medical/Pharma, Automotive, Electrics/Electronics and Consumer Goods
Industries. |
|
|
|
|
No of Employees : |
76 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired by
you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
199703612-Z |
|
COMPANY NAME |
: |
MIKRON SINGAPORE
PTE. LTD. |
|
FORMER NAME |
: |
INTEGRAL SYSTEMS PTE LTD (07/05/2010) |
|
INCORPORATION DATE |
: |
28/05/1997 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
3, LOYANG WAY 1, 508705, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
NO 3 LOYANG WAY 1, 508705, SINGAPORE. |
|
TEL.NO. |
: |
65-62991589 |
|
FAX.NO. |
: |
65-62992154 |
|
CONTACT PERSON |
: |
WONG SOW LONG ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE AND REPAIR OF AUTOMATION,
LIFTING AND HANDLING EQUIPMENT |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
1,418,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 1,431,133.00 |
|
|
|
|
|
SALES |
: |
SGD 14,461,673 [2012] |
|
NET WORTH |
: |
SGD 700,507 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
76 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
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 and repair of automation, lifting and handling equipment.
The immediate and ultimate holding company of the Subject is MIKRON HOLDING AG, a company incorporated in SWITZERLAND.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
10/07/2014 |
SGD 1,431,133.00 |
The major shareholder(s)
of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MIKRON HOLDING AG |
MUEHLEBRUECKE 2, CH-2502 BIEL/BIENNE, SWITZERLAND. |
T07UF3022 |
1,418,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,418,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
|
CHINA |
MIKRON SHANGHAI LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
WONG SOW LONG |
|
Address |
: |
43, HINDHEDE WALK, 03-08, SOUTHAVEN I, 587973, SINGAPORE. |
|
IC / PP No |
: |
S2566138I |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
12/08/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
ROLF RIHS |
|
Address |
: |
CHEMIN DES VIGNES, 26, 2013, COLOMBIER, SWITZERLAND. |
|
IC / PP No |
: |
F0435584 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SWISS |
|
Date of Appointment |
: |
26/09/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MARTIN CHRISTIAN BLOM |
|
Address |
: |
GANTRISCHWEG 9, CH-3250 LYSS, SWITZERLAND. |
|
IC / PP No |
: |
X3537268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SWISS |
|
Date of Appointment |
: |
26/09/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
WONG SOW LONG |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
STEVEN TAN RUSSELL BEDFORD PAC |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
LIM HORNG LING |
|
|
IC / PP No |
: |
S6925973A |
|
|
|
|
|
|
|
Address |
: |
178, PAYA LEBAR ROAD, 05-01, PAYA LEBAR 178, 409030, 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 against 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 |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
76 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture and repair
of automation, lifting and handling equipment.
As one of the leading machine and factory automation suppliers in Singapore,the
Subject offers customers a wide range of standard machines and customized
automation solutions for the medical/pharma, automotive, electrics/electronics
and consumer goods industries.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62991589 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
NO 3 LOYANG WAY 1 SINGAPORE 508705 |
|
Current Address |
: |
NO 3 LOYANG WAY 1, 508705, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
19.53% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(78.51%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(9.29%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
4.82% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market condition and the Subject could be gaining the market share progressively.The Subject could be more efficient in controlling its operating costs and had managed to reduce its losses during the year. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The 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 |
: |
Unfavourable |
[ |
0.66 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.71 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
0.34 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was low. If its profits fall or when interest rate rises, it may not be able to meet all its interest payment. 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 higher turnover had helped to reduce the Subject's losses. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. 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 : LIMITED |
||||||
|
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 |
|
|
Incorporated in 1997, the Subject is a
Private Limited company, focusing on manufacture and repair of automation, lifting
and handling equipment. Having been in the industry for over a decade, the
Subject has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. With a weak shareholders' backing, the Subject's capital position
is weak. Inadequate capital may be a constraint to the Subject as it limits
its ability to expand its business in future. Without a strong assets backing, the
Subject may face difficulties in getting loans for its future expansion and
continued growth. The Subject's supplier are from both the local and overseas
countries. This will eliminates the risk of dependency on deliveries from a
number of key suppliers and insufficient quantities of its raw
materials. The industry has reached its optimum level
and is generally stable. It is saturated and very competitive. Thus, the Subject's growth prospect is very much depends
on its capacity in sustaining its performance in the market. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
MIKRON SINGAPORE
PTE. LTD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
|
|
|
|
TURNOVER |
14,461,673 |
12,099,082 |
|
Other Income |
10,610 |
25,011 |
|
|
---------------- |
---------------- |
|
Total Turnover |
14,472,283 |
12,124,093 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(65,078) |
(302,761) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(65,078) |
(302,761) |
|
Taxation |
0 |
0 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(65,078) |
(302,761) |
|
|
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
(665,548) |
(362,787) |
|
|
---------------- |
---------------- |
|
As restated |
(665,548) |
(362,787) |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(730,626) |
(665,548) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(730,626) |
(665,548) |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
Lease interest |
65 |
660 |
|
Loan from holding company |
98,485 |
96,354 |
|
Others |
290 |
- |
|
|
---------------- |
---------------- |
|
|
98,840 |
97,014 |
|
|
============= |
============= |
|
MIKRON SINGAPORE
PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
385,729 |
303,829 |
|
|
|
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
1,984,333 |
680,213 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,984,333 |
680,213 |
|
|
|
|
|
Others |
1,573,497 |
1,532,392 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
1,573,497 |
1,532,392 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
3,943,559 |
2,516,434 |
|
|
|
|
|
Stocks |
605,111 |
212,432 |
|
Trade debtors |
420,981 |
1,008,486 |
|
Amount due from subsidiary companies |
300,000 |
300,000 |
|
Amount due from related companies |
833,986 |
729,912 |
|
Cash & bank balances |
1,567,681 |
1,141,281 |
|
Amount owing by customer |
4,054,090 |
2,469,909 |
|
Others |
189,304 |
440,078 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
7,971,153 |
6,302,098 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
11,914,712 |
8,818,532 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Trade creditors |
2,024,524 |
2,260,271 |
|
Other creditors & accruals |
1,057,166 |
829,592 |
|
Amounts owing to holding company |
5,532,375 |
3,400,000 |
|
Amounts owing to related companies |
1,527,515 |
1,069,577 |
|
Provision for taxation |
1,033 |
719 |
|
Lease payables |
- |
163 |
|
Other liabilities |
1,071,592 |
492,625 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
11,214,205 |
8,052,947 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(3,243,052) |
(1,750,849) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
700,507 |
765,585 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
1,431,133 |
1,431,133 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,431,133 |
1,431,133 |
|
|
|
|
|
Retained profit/(loss) carried forward |
(730,626) |
(665,548) |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
(730,626) |
(665,548) |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
700,507 |
765,585 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
700,507 |
765,585 |
|
|
============= |
============= |
|
|
|
|
|
MIKRON SINGAPORE
PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
1,567,681 |
1,141,281 |
|
Net Liquid Funds |
1,567,681 |
1,141,281 |
|
Net Liquid Assets |
(3,848,163) |
(1,963,281) |
|
Net Current Assets/(Liabilities) |
(3,243,052) |
(1,750,849) |
|
Net Tangible Assets |
(872,990) |
(766,807) |
|
Net Monetary Assets |
(3,848,163) |
(1,963,281) |
|
BALANCE SHEET
ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
11,214,205 |
8,052,947 |
|
Total Assets |
11,914,712 |
8,818,532 |
|
Net Assets |
700,507 |
765,585 |
|
Net Assets Backing |
700,507 |
765,585 |
|
Shareholders' Funds |
700,507 |
765,585 |
|
Total Share Capital |
1,431,133 |
1,431,133 |
|
Total Reserves |
(730,626) |
(665,548) |
|
LIQUIDITY
(Times) |
|
|
|
Cash Ratio |
0.14 |
0.14 |
|
Liquid Ratio |
0.66 |
0.76 |
|
Current Ratio |
0.71 |
0.78 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
Stock Ratio |
15 |
6 |
|
Debtors Ratio |
11 |
30 |
|
Creditors Ratio |
51 |
68 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
16.01 |
10.52 |
|
Times Interest Earned Ratio |
0.34 |
(2.12) |
|
Assets Backing Ratio |
(0.61) |
(0.54) |
|
PERFORMANCE
RATIO (%) |
|
|
|
Operating Profit Margin |
(0.45) |
(2.50) |
|
Net Profit Margin |
(0.45) |
(2.50) |
|
Return On Net Assets |
4.82 |
(26.87) |
|
Return On Capital Employed |
1.48 |
(8.95) |
|
Return On Shareholders' Funds/Equity |
(9.29) |
(39.55) |
|
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.59.88 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.