|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYMRISE ASIA
PACIFIC PTE. LTD. |
|
|
|
|
Registered Office : |
226, Pandan Loop, 128412 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.08.2008 |
|
|
|
|
Com. Reg. No.: |
200815830-C |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
provider of fragrances, flavors and active ingredients as well as aroma chemicals for the perfume, cosmetic, pharmaceutical, food and beverage industries. |
|
|
|
|
No of Employees : |
500 [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 : |
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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
200815830-C |
|
COMPANY NAME |
: |
SYMRISE ASIA
PACIFIC PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
08/08/2008 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
226, PANDAN LOOP, 128412, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
226 PANDAN LOOP, 128412, SINGAPORE. |
|
TEL.NO. |
: |
65-67794551 |
|
FAX.NO. |
: |
65-67795843 |
|
WEB SITE |
: |
|
|
CONTACT PERSON |
: |
MARKUS ALEC STEGER ( PRESIDENT ) |
|
PRINCIPAL ACTIVITY |
: |
provider
of fragrances, flavors and active ingredients as well as aroma chemicals for
the perfume, cosmetic, pharmaceutical, food and beverage industries. |
|
ISSUED AND PAID UP CAPITAL |
: |
2.00 ORDINARY SHARE, OF A VALUE OF SGD
241,522,401.00 |
|
SALES |
: |
USD 228,938,000 [2012] |
|
NET WORTH |
: |
USD 261,848,000 [2012] |
|
STAFF STRENGTH |
: |
500 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
HIGH |
|
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 of perfumes and fragrances.
The immediate holding company of the Subject is BUSIRIS VERMOGENSVERWALTUNG GMBH, a company incorporated in GERMANY.
The ultimate holding company of the Subject is SYMRISE AG, a company incorporated in GERMANY.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
30/07/2013 |
SGD 335,022,401.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BUSIRIS VERMOGENSVERWALTUNG GMBH |
MUHLENFELDSTR. 1, 37603 HOLZMINDEN, GERMANY. |
T03UF1548 |
189.00 |
100.00 |
|
--------------- |
------ |
|||
|
189.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MARKUS SATTLER |
|
Address |
: |
MEIERNBERG 12, HOLZMINDEN, 37603, GERMANY. |
|
IC / PP No |
: |
158318467 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
08/08/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
LEONG HUI CHIUNG |
|
Address |
: |
13, HARTLEY GROVE, FRANKEL ESTATE, 457882, SINGAPORE. |
|
IC / PP No |
: |
S7217656A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
14/11/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. MARKUS ALEC STEGER |
|
Address |
: |
43, LEEDON PARK, 267912, SINGAPORE. |
|
IC / PP No |
: |
G5730066W |
|
Nationality |
: |
SWISS |
|
Date of Appointment |
: |
04/10/2010 |
|
1) |
Name of Subject |
: |
MARKUS ALEC STEGER |
|
Position |
: |
PRESIDENT |
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
TAY CHEE WAH |
|
IC / PP No |
: |
S6968275H |
|
|
Address |
: |
1, BEDOK SOUTH AVENUE 1, 09 - 921, 460001, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
LOW SIEW TIAN |
|
IC / PP No |
: |
S6963151G |
|
|
Address |
: |
453, TAMPINES STREET 42, 11-204, 520453, 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 |
: |
NO |
Percentage |
: |
0% |
|
Overseas |
: |
YES |
Percentage |
: |
100% |
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2009 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
500 |
450 |
300 |
||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is
principally engaged as a provider of
fragrances, flavors and active ingredients as well as aroma chemicals for the
perfume, cosmetic, pharmaceutical, food and beverage industries.
The Subject engaged
in both local and overseas sale, specially in the manufacturing and
distributing of flavours and fragrances.
The Subject's product and services are as follows:
* chemicals by applications
* cosmetic chemicals
The Subject is a member of the following entities:
* Singapore Chemical Industry Council
* Singapore International Chamber Of Commerce
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6567794551 |
|
Current Telephone Number |
: |
65-67794551 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
226 PANDAN LOOP SINGAPORE 128412 |
|
Current Address |
: |
226 PANDAN LOOP, 128412, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
we contacted one of the staff from the Subject and she provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
50.53% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
55.91% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
5.49% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
8.18% |
] |
|
|
The increase in turnover could be due to the Subject adopting an aggressive
marketing strategy.The higher profit could be attributed to the increase in
turnover. The unfavourable return on shareholders' funds could indicate that
the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
7 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 |
: |
Favourable |
[ |
1.79 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.76 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. 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 : |
||||||
|
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. The
Subject did not make any interest payment during the year. The Subject was
dependent on its shareholders' funds to finance its business needs. 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 : FAIR |
||||||
|
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 2008, the Subject is a
Private Limited company, focusing on manufacture of perfumes and fragrances.
Having been in business for 6 years, the Subject has established a remarkable
clientele base for itself which has contributed to its business growth.
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. Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Being a large entity, the Subject has a steady workforce of 500 personnel to
support its business operations. Its future prospects seem to be fairly good
as its business operations are running relatively stable. Overall, we regard
that the Subject's management capability is average. This indicates that the
Subject has greater potential to improve its business performance and raising
income for the Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
The Subject has generated an unfavourable return on shareholders' funds
indicating that the management was inefficient in utilising its funds to
generate return. The Subject however is in good liquidity position with its
current liabilities well covered by it current assets. Hence, it has
sufficient working capital to meet its short term financial obligations.
Being a zero geared company, the Subject virtually has no financial risk as
it is mainly dependent on its internal funds to finance its business. Given a
positive net worth standing at USD 261,848,000, the Subject should be able to
maintain its business in the near terms. Investigation revealed that the Subject's
supplies are 100% sourced from overseas countries. As an imported oriented
company, its forex exposure is high. The Subject faces foreign currency
fluctuation which may affect its overall operating costs. We regard that the Subject's overall
payment habit is prompt. The Subject had a favourable creditors' ratio as
evidenced by its favourable collection days. 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. |
|
SYMRISE ASIA
PACIFIC PTE. LTD. |
|
Financial Year End |
2012-12-31 |
2011-09-30 |
|
Months |
15 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
228,938,000 |
152,089,000 |
|
Other Income |
14,042,000 |
12,249,000 |
|
---------------- |
---------------- |
|
|
Total Turnover |
242,980,000 |
164,338,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
21,607,000 |
13,859,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
21,607,000 |
13,859,000 |
|
Taxation |
(7,238,000) |
(506,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
14,369,000 |
13,353,000 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(2,694,000) |
(16,047,000) |
|
---------------- |
---------------- |
|
|
As restated |
(2,694,000) |
(16,047,000) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
11,675,000 |
(2,694,000) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
11,675,000 |
(2,694,000) |
|
============= |
============= |
|
|
SYMRISE ASIA
PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
44,888,000 |
37,385,000 |
|
Deferred assets |
- |
3,391,000 |
|
Others |
33,000 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
33,000 |
3,391,000 |
|
Others |
159,273,000 |
168,495,000 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
159,273,000 |
168,495,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
204,194,000 |
209,271,000 |
|
Stocks |
33,163,000 |
23,192,000 |
|
Trade debtors |
18,537,000 |
14,010,000 |
|
Other debtors, deposits & prepayments |
912,000 |
1,213,000 |
|
Amount due from holding company |
11,440,000 |
1,956,000 |
|
Amount due from related companies |
17,255,000 |
13,050,000 |
|
Cash & bank balances |
12,578,000 |
26,696,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
93,885,000 |
80,117,000 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
298,079,000 |
289,388,000 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
4,082,000 |
6,421,000 |
|
Other creditors & accruals |
20,952,000 |
13,615,000 |
|
Amounts owing to holding company |
4,911,000 |
2,732,000 |
|
Amounts owing to related companies |
4,057,000 |
4,291,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
34,002,000 |
27,059,000 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
59,883,000 |
53,058,000 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
264,077,000 |
262,329,000 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
176,745,000 |
176,745,000 |
|
Preference share capital |
73,397,000 |
87,938,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
250,142,000 |
264,683,000 |
|
Retained profit/(loss) carried forward |
11,675,000 |
(2,694,000) |
|
Others |
31,000 |
(423,000) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
11,706,000 |
(3,117,000) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
261,848,000 |
261,566,000 |
|
Deferred taxation |
2,229,000 |
- |
|
Others |
- |
763,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,229,000 |
763,000 |
|
---------------- |
---------------- |
|
|
264,077,000 |
262,329,000 |
|
|
============= |
============= |
|
|
SYMRISE ASIA
PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
12,578,000 |
26,696,000 |
|
Net Liquid Funds |
12,578,000 |
26,696,000 |
|
Net Liquid Assets |
26,720,000 |
29,866,000 |
|
Net Current Assets/(Liabilities) |
59,883,000 |
53,058,000 |
|
Net Tangible Assets |
104,804,000 |
93,834,000 |
|
Net Monetary Assets |
24,491,000 |
29,103,000 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
36,231,000 |
27,822,000 |
|
Total Assets |
298,079,000 |
289,388,000 |
|
Net Assets |
264,077,000 |
262,329,000 |
|
Net Assets Backing |
261,848,000 |
261,566,000 |
|
Shareholders' Funds |
261,848,000 |
261,566,000 |
|
Total Share Capital |
250,142,000 |
264,683,000 |
|
Total Reserves |
11,706,000 |
(3,117,000) |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.37 |
0.99 |
|
Liquid Ratio |
1.79 |
2.10 |
|
Current Ratio |
2.76 |
2.96 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
53 |
56 |
|
Debtors Ratio |
30 |
34 |
|
Creditors Ratio |
7 |
15 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.14 |
0.11 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
0.42 |
0.35 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
9.44 |
9.11 |
|
Net Profit Margin |
6.28 |
8.78 |
|
Return On Net Assets |
8.18 |
5.28 |
|
Return On Capital Employed |
5.10 |
3.22 |
|
Return On Shareholders' Funds/Equity |
5.49 |
5.11 |
|
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.59.20 |
|
UK Pound |
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.