|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVENTIS PHARMA MANUFACTURING PTE LTD |
|
|
|
|
Formerly Known As : |
RHONE-POULENC RORER MANUFACTURING PTE LTD |
|
|
|
|
Registered Office : |
1, Marina Boulevard, 28-00, One Marina Boulevard, 018989 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.03.1970 |
|
|
|
|
Com. Reg. No.: |
197000222-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture of pharmaceutical products |
|
|
|
|
No. of Employees |
150 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
|
REGISTRATION NO. |
: |
197000222-H |
|
COMPANY NAME |
: |
AVENTIS PHARMA MANUFACTURING PTE LTD |
|
FORMER NAME |
: |
RHONE-POULENC RORER MANUFACTURING PTE LTD (30/03/2000) |
|
INCORPORATION DATE |
: |
31/03/1970 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
1, MARINA BOULEVARD, 28-00, ONE MARINA BOULEVARD, 018989, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
61 GUL CIRCLE, 629585, SINGAPORE. |
|
TEL.NO. |
: |
65-68623868 |
|
FAX.NO. |
: |
65-68623153 |
|
CONTACT PERSON |
: |
JEAN-PHILIPPE PIERRE JOSE LOPEZ ( MANAGING DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF PHARMACEUTICAL PRODUCTS |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
115,050,000.00 ORDINARY SHARE, OF A VALUE OF SGD 115,050,000.00 |
|
|
|
|
|
SALES |
: |
SGD 1,370,995,000 [2012] |
|
NET WORTH |
: |
SGD 444,922,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
150 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) manufacture of pharmaceutical products.
The immediate holding company of the Subject is SANOFI-AVENTIS SINGAPORE PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is SANOFI-AVENTIS EUROPE, a company incorporated in FRANCE.
The intermediate holding company of the Subject is SANOFI-AVENTIS EUROPE, a company incorporated in FRANCE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
22/07/2014 |
SGD 115,050,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SANOFI-AVENTIS SINGAPORE PTE. LTD. |
6, RAFFLES QUAY, 18-00, JOHN HANCOCK TOWER, 048580, SINGAPORE. |
199703242Z |
115,050,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
115,050,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
JEAN-PHILIPPE PIERRE JOSE LOPEZ |
|
Address |
: |
63, CAIRNHILL CIRCLE, 15-01, THE PROMONT, 229790, SINGAPORE. |
|
IC / PP No |
: |
G5137714T |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
02/06/2011 |
|
Remark |
: |
MANAGERS |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
FRANCOIS,JEAN CAPIT |
|
Address |
: |
1 AVENUE DES FONDS MARECHAUX, 92420 VAUCRESSON, FRANCE. |
|
IC / PP No |
: |
13AF21203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
01/03/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
FLAVIE,LAURENCE LORRE |
|
Address |
: |
25, RUE DE FONTARABIE, 75020, PARIS, FRANCE. |
|
IC / PP No |
: |
10AX17079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
21/02/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
JEAN-PHILIPPE PIERRE JOSE LOPEZ |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
DAPHNE ANG YEE KOON |
|
|
IC / PP No |
: |
S7526599I |
|
|
|
|
|
|
|
Address |
: |
354, KANG CHING ROAD, 11-31, 610354, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
TAN BEE SUAN @ CHEN MEIZUAN |
|
|
IC / PP No |
: |
S7124493H |
|
|
|
|
|
|
|
Address |
: |
761, CHOA CHU KANG NORTH 5, 12-179, 680761, SINGAPORE. |
|
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|
|
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.
PAYMENT RECORD
|
|
|
|
|
|
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 |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
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|
Payment Mode |
: |
CHEQUES |
|||
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|
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
150 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of
pharmaceutical products.
The Subject is engaged in the manufacturing portfolio contains medicines for
several therapeutic areas including cardiovascular, thrombotic, metabolic
disorders, oncology, disorders of the central nervous system, internal
medicine.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68623868 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
61 GUL CIRCLE SINGAPORE, 629585 |
|
Current Address |
: |
61 GUL CIRCLE, 629585, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
15.55% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
10.58% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.75% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.19% |
] |
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the intense market competition.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The Subject's management had generated acceptable return for its shareholders using its assets. |
||||||
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|
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|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject kept adequate stocks to meet its normal business transactions without incurring excessive storage costs. 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. |
||||||
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|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.68 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.62 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due. |
||||||
|
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|
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Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
13,484.00 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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|
|
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|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject's performance deteriorated over the years with lower 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 was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : STRONG |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
INDUSTRY ANALYSIS
|
|
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 |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
AVENTIS PHARMA MANUFACTURING 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 |
1,370,995,000 |
1,623,411,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
1,370,995,000 |
1,623,411,000 |
|
Costs of Goods Sold |
(1,291,041,000) |
(1,534,031,000) |
|
|
---------------- |
---------------- |
|
Gross Profit |
79,954,000 |
89,380,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
73,361,000 |
82,044,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
73,361,000 |
82,044,000 |
|
Taxation |
(12,194,000) |
(14,484,000) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
61,167,000 |
67,560,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
468,705,000 |
401,145,000 |
|
|
---------------- |
---------------- |
|
As restated |
468,705,000 |
401,145,000 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
529,872,000 |
468,705,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(200,000,000) |
- |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
329,872,000 |
468,705,000 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Others |
5,441 |
7,476 |
|
|
---------------- |
---------------- |
|
|
5,441 |
7,476 |
|
|
============= |
============= |
|
AVENTIS PHARMA MANUFACTURING PTE LTD |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
85,205,000 |
91,398,000 |
|
|
|
|
|
Others |
1,390,000 |
1,088,000 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
1,390,000 |
1,088,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
86,595,000 |
92,486,000 |
|
|
|
|
|
Stocks |
211,460,000 |
258,196,000 |
|
Trade debtors |
1,136,000 |
636,000 |
|
Other debtors, deposits & prepayments |
2,896,000 |
2,452,000 |
|
Amount due from holding company |
1,286,000 |
14,214,000 |
|
Amount due from related companies |
191,841,000 |
317,543,000 |
|
Cash & bank balances |
184,386,000 |
124,013,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
593,005,000 |
717,054,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
679,600,000 |
809,540,000 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
2,635,000 |
3,687,000 |
|
Other creditors & accruals |
4,221,000 |
3,484,000 |
|
Amounts owing to holding company |
2,688,000 |
2,816,000 |
|
Amounts owing to related companies |
204,427,000 |
193,632,000 |
|
Provision for taxation |
12,532,000 |
13,971,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
226,503,000 |
217,590,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
366,502,000 |
499,464,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
453,097,000 |
591,950,000 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
115,050,000 |
115,050,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
115,050,000 |
115,050,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
329,872,000 |
468,705,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
329,872,000 |
468,705,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
444,922,000 |
583,755,000 |
|
|
|
|
|
Deferred taxation |
6,633,000 |
6,793,000 |
|
Others |
1,542,000 |
1,402,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
8,175,000 |
8,195,000 |
|
|
---------------- |
---------------- |
|
|
453,097,000 |
591,950,000 |
|
|
============= |
============= |
|
|
|
|
|
AVENTIS PHARMA MANUFACTURING PTE LTD |
|
TYPES OF FUNDS |
|
|
|
Cash |
184,386,000 |
124,013,000 |
|
Net Liquid Funds |
184,386,000 |
124,013,000 |
|
Net Liquid Assets |
155,042,000 |
241,268,000 |
|
Net Current Assets/(Liabilities) |
366,502,000 |
499,464,000 |
|
Net Tangible Assets |
451,707,000 |
590,862,000 |
|
Net Monetary Assets |
146,867,000 |
233,073,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
234,678,000 |
225,785,000 |
|
Total Assets |
679,600,000 |
809,540,000 |
|
Net Assets |
453,097,000 |
591,950,000 |
|
Net Assets Backing |
444,922,000 |
583,755,000 |
|
Shareholders' Funds |
444,922,000 |
583,755,000 |
|
Total Share Capital |
115,050,000 |
115,050,000 |
|
Total Reserves |
329,872,000 |
468,705,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.81 |
0.57 |
|
Liquid Ratio |
1.68 |
2.11 |
|
Current Ratio |
2.62 |
3.30 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
56 |
58 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
1 |
1 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.53 |
0.39 |
|
Times Interest Earned Ratio |
13,484.00 |
10,975.32 |
|
Assets Backing Ratio |
3.93 |
5.14 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
5.35 |
5.05 |
|
Net Profit Margin |
4.46 |
4.16 |
|
Return On Net Assets |
16.19 |
13.86 |
|
Return On Capital Employed |
16.14 |
13.84 |
|
Return On Shareholders' Funds/Equity |
13.75 |
11.57 |
|
Dividend Pay Out Ratio (Times) |
3.27 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.