MIRA INFORM REPORT

 

 

Report Date :

12.03.2014

 

IDENTIFICATION DETAILS

 

Name :

EMERSON NETWORK POWER (SINGAPORE) PTE. LTD.

 

 

Formerly Known As :

LIEBERT FAR EAST PTE LTD

 

 

Registered Office :

151, Lorong Chuan, 05-04, New Tech Park, 556741

 

 

Country :

Singapore 

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

07.12.1982

 

 

Com. Reg. No.:

198205102-D

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

engaged in trading of computer support systems for regulating and monitoring environmental and electrical power conditions and provision of installation and maintenance services.


subject provide support and protection for all computer systems with the widest range of computer room air conditioning systems, uninterrupted power supplies (ups), power conditioning systems, security access controls and site monitoring systems.

 

 

No. of Employees

100 [2014]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Singapore 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

N/A - Not Applicable

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

198205102-D

COMPANY NAME

:

EMERSON NETWORK POWER (SINGAPORE) PTE. LTD.

FORMER NAME

:

LIEBERT FAR EAST PTE LTD (13/11/2001)
LIEBERT PRODUCTS PTE. LTD. (26/09/1988)

INCORPORATION DATE

:

07/12/1982

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

151, LORONG CHUAN, 05-04, NEW TECH PARK, 556741, SINGAPORE.

BUSINESS ADDRESS

:

151 LORONG CHUAN, LOBBY D #05-04 NEW TECH PARK, 556741, SINGAPORE.

TEL.NO.

:

65-64672211

FAX.NO.

:

65-64670130

EMAIL

:

MARKETING.AP@EMERSON.COM

WEB SITE

:

WWW.EMERSONNETWORKPOWER.COM

CONTACT PERSON

:

KONG KAI CHIU ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

TRADING IN COMPUTER SUPPORT SYSTEMS FOR REGULATING AND MONITORING ENVIRONMENTAL AND ELECTRICAL POWER CONDITIONS AND PROVISION OF INSTALLATION AND MAINTENANCE SERVICES

 

 

 

ISSUED AND PAID UP CAPITAL

:

2,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,000,000.00 

 

 

 

SALES

:

USD 119,505,000 [2012]

NET WORTH

:

USD 31,683,000 [2012]

 

 

 

STAFF STRENGTH

:

100 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

PROMPT

MANAGEMENT CAPABILITY

:

GOOD

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

GOOD

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

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) trading in computer support systems for regulating and monitoring environmental and electrical power conditions and provision of installation and maintenance services.

 

The immediate holding company of the Subject is LIEBERT CORPORATION, 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

10/03/2014

SGD 2,000,000.00

 

The major shareholder(s) of the Subject are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

LIEBERT CORPORATION

1050, DEARBORN DR PO BOX 29186, COLUMBUS OHIO, 43229, UNITED STATES.

S82UF0072

2,000,000.00

100.00

 

 

 

---------------

------

 

 

 

2,000,000.00

100.00

 

 

 

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No

Country

Company

(%)

As At

148531U

MALAYSIA

EMERSON NETWORK POWER (MALAYSIA) SDN. BHD.

100.00

30/09/2012

 

 

 

 

 

199004380N

SINGAPORE

KNUERR PTE. LTD.

100.00

30/09/2012

 

 

 

 

 

 

 

DIRECTORS

 

DIRECTOR 1

Name Of Subject

:

CHARLES EUGENE HAYDEN

Address

:

237, ARCADIA ROAD 07 - 07, ARCADIA, THE, SINGAPORE.

IC / PP No

:

G5368859X

 

 

 

 

 

 

 

 

 

Nationality

:

AMERICAN

Date of Appointment

:

01/12/2000

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

Name Of Subject

:

STEPHEN JOHN SHELLEY

Address

:

153, CARTENS ROAD, GROSE VALE, NSW 2753, AUSTRALIA.

IC / PP No

:

E7596574

 

 

 

 

 

 

 

 

 

Nationality

:

AUSTRALIAN

Date of Appointment

:

01/03/2006

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

Name Of Subject

:

KONG KAI CHIU

Address

:

131, SERANGOON AVENUE 3, 03 - 04 , CHILTERN PARK CONDOMINIUM, 556112, SINGAPORE.

IC / PP No

:

S2600617A

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/12/2010

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

1)

Name of Subject

:

KONG KAI CHIU

 

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

KPMG LLP

Auditor' Address

:

N/A

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

TAN CHENG SIEW @ NUR FARAH TAN

 

IC / PP No

:

S6920790A

 

 

 

 

 

Address

:

97, BEDOK NORTH AVENUE 4, 20-1513, 460097, SINGAPORE.

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank. 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

LEGAL CHECK AGAINST SUBJECT


* A check has been conducted in our databank 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. 

 

PAYMENT RECORD

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

Import Countries

:

CHINA,EUROPE


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

:

ASIA

Credit Term

:

AS AGREED

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

COMPUTER SUPPORT SYSTEMS FOR REGULATING AND MONITORING ENVIRONMENTAL AND ELECTRICAL POWER CONDITIONS

 

 

 

 

 

Total Number of Employees:

YEAR

2014

2013

 

GROUP

N/A

N/A

 

 

 

 

 

 

 

COMPANY

100

100

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:

The Subject is principally engaged in the (as a / as an) trading in computer support systems for regulating and monitoring environmental and electrical power conditions and provision of installation and maintenance services. 

The Subject provide support and protection for all computer systems with the widest range of computer room air conditioning systems, uninterrupted power supplies (ups), power conditioning systems, security access controls and site monitoring systems.

Products and services: 
* ups/uniterruptible power supply 
* business continuity 
* disaster recovery
* power protection 
* liebert/hiross 
* mission critical systems 
* connectivity 
* integrated cabinet solutions
* precision cooling 
* site monitoring and services 
* precision air conditioning system for data centres
* dc rectifiers and converters 
* transfer switches 
* turnkey data centre design and construction 

Trade names:
* upstation ups 
* powesure ups 
* liebert 
* emekson air conditioning eqpt. & card access systems 
* emerson ups & power conditioners 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-64672211

Match

:

N/A

 

 

 

Address Provided by Client

:

151, LORONG CHUAN, LOBBY D, #05-04 NEW TECH PARK, SINGAPORE 556741

Current Address

:

151 LORONG CHUAN, LOBBY D #05-04 NEW TECH PARK, 556741, SINGAPORE.

Match

:

YES

 

Other Investigations


we contacted one of the staff from the Subject and she provided some information.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

2010 - 2012

]

 

Profit/(Loss) Before Tax

:

Decreased

[

2010 - 2012

]

 

Return on Shareholder Funds

:

Acceptable

[

17.54%

]

 

Return on Net Assets

:

Acceptable

[

17.76%

]

 

 

 

 

 

 

 

 

The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The Subject's profit fell sharply because of the high operating costs incurred. The Subject's management had generated acceptable return for its shareholders using its assets.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Favourable

[

23 Days

]

 

Debtor Ratio

:

Unfavourable

[

82 Days

]

 

Creditors Ratio

:

Favourable

[

29 Days

]

 

 

 

 

 

 

 

 

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. 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

[

1.46 Times

]

 

Current Ratio

:

Unfavourable

[

1.62 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.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Favourable

[

432.92 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

Although the Subject's turnover had increased, its profits had declined over the same corresponding period. This could be due to the stiffer market competition and / or higher operating costs which lowered the Subject's profit margin. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

 

 

 

 

 

 

 

Overall financial condition of the Subject : STRONG

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2008

2009

2010

2011

2012

 

 

 

 

 

 

Population (Million)

4.84

4.98

5.08

5.18

5.31

Gross Domestic Products ( % )

1.5

(0.8)

14.5

4.9

1.3

Consumer Price Index

6.6

0.6

2.8

5.2

4.6

Total Imports (Million)

450,892.6

356,299.3

423,221.8

459,655.1

474,554.0

Total Exports (Million)

476,762.2

391,118.1

478,840.7

514,741.2

510,329.0

 

 

 

 

 

 

Unemployment Rate (%)

2.2

3.2

2.2

2.1

2.0

Tourist Arrival (Million)

10.12

9.68

11.64

13.17

14.37

Hotel Occupancy Rate (%)

81.0

75.8

85.6

86.5

86.4

Cellular Phone Subscriber (Million)

1.31

1.37

1.43

1.50

1.52

 

 

 

 

 

 

Registration of New Companies (No.)

25,327

26,414

29,798

32,317

31,892

Registration of New Companies (%)

(2.2)

4.3

12.8

8.5

(1.3)

Liquidation of Companies (No.)

10,493

22,393

15,126

19,005

17,218

Liquidation of Companies (%)

13.7

113.4

(32.5)

25.6

9.4

 

 

 

 

 

 

Registration of New Businesses (No.)

24,850

26,876

23,978

23,494

24,788

Registration of New Businesses (%)

0.36

8.15

(10.78)

2.02

5.51

Liquidation of Businesses (No.)

21,150

23,552

24,211

23,005

22,489

Liquidation of Businesses (%)

(0.8)

11.4

2.8

(5)

(2.2)

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,326

2,058

1,537

1,527

1,748

Bankruptcy Orders (%)

(15.9)

(11.5)

(25.3)

(0.7)

14.5

Bankruptcy Discharges (No.)

1,500

3,056

2,252

1,391

1,881

Bankruptcy Discharges (%)

(7.7)

103.7

(26.3)

(38.2)

35.2

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

(0.32)

3.25

(0.48)

4.25

3.64

Fish Supply & Wholesale

(6.31)

(1.93)

(10.5)

12.10

(0.5)

 

 

 

 

 

 

Manufacturing *

74.6

71.5

92.8

100.0

100.3

Food, Beverages & Tobacco

94.8

90.4

96.4

100.0

103.5

Textiles

180.1

145.9

122.1

100.0

104.0

Wearing Apparel

334.6

211.0

123.3

100.0

92.1

Leather Products & Footwear

128.2

79.5

81.8

100.0

98.6

Wood & Wood Products

132.0

101.4

104.0

100.0

95.5

Paper & Paper Products

101.0

95.4

106.1

100.0

97.4

Printing & Media

118.2

100.9

103.5

100.0

93.0

Crude Oil Refineries

113.1

96.4

95.6

100.0

99.4

Chemical & Chemical Products

84.5

80.3

97.6

100.0

100.5

Pharmaceutical Products

43.7

49.1

75.3

100.0

109.7

Rubber & Plastic Products

120.1

101.2

112.3

100.0

96.5

Non-metallic Mineral

96.5

91.9

92.5

100.0

98.2

Basic Metals

109.8

92.6

102.2

100.0

90.6

Fabricated Metal Products

101.3

90.8

103.6

100.0

104.3

Machinery & Equipment

65.0

57.3

78.5

100.0

112.9

Electrical Machinery

81.7

86.8

124.1

100.0

99.3

Electronic Components

93.1

85.2

113.6

100.0

90.6

Transport Equipment

102.0

96.0

94.0

100.0

106.3

 

 

 

 

 

 

Construction

45.90

(36.9)

14.20

20.50

28.70

Real Estate

(11.2)

1.4

21.3

25.4

31.9

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

(1.3)

1.70

4.00

7.00

6.30

Transport, Storage & Communication

11.60

3.90

12.80

7.40

5.30

Finance & Insurance

(5.9)

(16.4)

(0.4)

8.90

0.50

Government Services

17.40

4.50

9.70

6.90

6.00

Education Services

0.50

0.10

(0.9)

(1.4)

0.30

 

 

 

 

 

 

* Based on Index of Industrial Production (2011 = 100)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 

 

INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 

The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.

 

The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.

 

In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%. 

 

For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

 

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH




CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 1982, the Subject is a Private Limited company, focusing on trading in computer support systems for regulating and monitoring environmental and electrical power conditions and provision of installation and maintenance services. The Subject has been in business for over 3 decades. It has built up a strong clientele base and good reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment. The capital standing of the Subject is fair. With an adequate share capital, the Subject has the potential of expanding its business in future. 

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 moderate size company, the Subject has a total workforce of 100 employees in its business operations. Overall, we regard that the Subject's management capability is good. 

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject 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 31,683,000, the Subject should be able to maintain its business in the near terms. 

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 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. Overall the Subject has a good control over its resources. 

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 shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry. 

Based on the above condition, we recommend credit be granted to the Subject promptly.

 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

EMERSON NETWORK POWER (SINGAPORE) PTE. LTD.

 

Financial Year End

2012-09-30

2011-09-30

2010-09-30

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

 

 

 

 

TURNOVER

119,505,000

100,716,000

66,962,000

Other Income

46,000

18,000

401,000

 

----------------

----------------

----------------

Total Turnover

119,551,000

100,734,000

67,363,000

Costs of Goods Sold

(95,368,000)

(77,610,000)

(51,969,000)

 

----------------

----------------

----------------

Gross Profit

24,183,000

23,124,000

15,394,000

 

----------------

----------------

----------------

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

5,615,000

9,549,000

7,896,000

 

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

5,615,000

9,549,000

7,896,000

Taxation

(59,000)

(709,000)

(957,000)

 

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

5,556,000

8,840,000

6,939,000

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

As previously reported

30,950,000

25,110,000

20,171,000

 

----------------

----------------

----------------

As restated

30,950,000

25,110,000

20,171,000

 

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

36,506,000

33,950,000

27,110,000

DIVIDENDS - Ordinary (paid & proposed)

(5,000,000)

(3,000,000)

(2,000,000)

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

31,506,000

30,950,000

25,110,000

 

=============

=============

=============

 

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

 

Others

13,000

13,000

2,155,000

 

----------------

----------------

----------------

 

13,000

13,000

2,155,000

 

=============

=============

=============

 

BALANCE SHEET

 

 

EMERSON NETWORK POWER (SINGAPORE) PTE. LTD.

 

ASSETS EMPLOYED:

 

 

 

FIXED ASSETS

661,000

655,000

288,000

 

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

 

Subsidiary companies

1,485,000

1,485,000

1,485,000

Deferred assets

192,000

-

67,000

Others

-

-

117,000

 

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

1,677,000

1,485,000

1,669,000

 

 

 

 

INTANGIBLE ASSETS

 

 

 

Others

117,000

117,000

-

 

----------------

----------------

----------------

TOTAL INTANGIBLE ASSETS

117,000

117,000

-

 

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

2,455,000

2,257,000

1,957,000

 

 

 

 

CURRENT ASSETS

 

 

 

Stocks

7,429,000

5,059,000

4,587,000

Trade debtors

27,009,000

14,077,000

13,093,000

Other debtors, deposits & prepayments

2,245,000

638,000

25,649,000

Amount due from related companies

38,840,000

34,203,000

-

Cash & bank balances

1,103,000

91,000

186,000

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

76,626,000

54,068,000

43,515,000

 

----------------

----------------

----------------

TOTAL ASSET

79,081,000

56,325,000

45,472,000

 

=============

=============

=============

 

 

 

 

CURRENT LIABILITIES

 

 

 

Trade creditors

7,667,000

3,836,000

2,516,000

Other creditors & accruals

7,680,000

7,257,000

15,934,000

Amounts owing to related companies

30,078,000

12,488,000

-

Provision for taxation

940,000

1,436,000

269,000

Other liabilities

1,033,000

181,000

1,466,000

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

47,398,000

25,198,000

20,185,000

 

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

29,228,000

28,870,000

23,330,000

 

----------------

----------------

----------------

TOTAL NET ASSETS

31,683,000

31,127,000

25,287,000

 

=============

=============

=============

 

 

 

 

SHARE CAPITAL

 

 

 

Ordinary share capital

177,000

177,000

177,000

 

----------------

----------------

----------------

TOTAL SHARE CAPITAL

177,000

177,000

177,000

 

 

 

 

RESERVES

 

 

 

Retained profit/(loss) carried forward

31,506,000

30,950,000

25,110,000

 

----------------

----------------

----------------

TOTAL RESERVES

31,506,000

30,950,000

25,110,000

 

 

 

 

 

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

31,683,000

31,127,000

25,287,000

 

 

 

 

 

----------------

----------------

----------------

 

31,683,000

31,127,000

25,287,000

 

=============

=============

=============

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

EMERSON NETWORK POWER (SINGAPORE) PTE. LTD.

 

TYPES OF FUNDS

 

 

 

Cash

1,103,000

91,000

186,000

Net Liquid Funds

1,103,000

91,000

186,000

Net Liquid Assets

21,799,000

23,811,000

18,743,000

Net Current Assets/(Liabilities)

29,228,000

28,870,000

23,330,000

Net Tangible Assets

31,566,000

31,010,000

25,287,000

Net Monetary Assets

21,799,000

23,811,000

18,743,000

BALANCE SHEET ITEMS

 

 

 

Total Borrowings

0

0

0

Total Liabilities

47,398,000

25,198,000

20,185,000

Total Assets

79,081,000

56,325,000

45,472,000

Net Assets

31,683,000

31,127,000

25,287,000

Net Assets Backing

31,683,000

31,127,000

25,287,000

Shareholders' Funds

31,683,000

31,127,000

25,287,000

Total Share Capital

177,000

177,000

177,000

Total Reserves

31,506,000

30,950,000

25,110,000

LIQUIDITY (Times)

 

 

 

Cash Ratio

0.02

0.00

0.01

Liquid Ratio

1.46

1.94

1.93

Current Ratio

1.62

2.15

2.16

WORKING CAPITAL CONTROL (Days)

 

 

 

Stock Ratio

23

18

25

Debtors Ratio

82

51

71

Creditors Ratio

29

18

18

SOLVENCY RATIOS (Times)

 

 

 

Gearing Ratio

0.00

0.00

0.00

Liabilities Ratio

1.50

0.81

0.80

Times Interest Earned Ratio

432.92

735.54

4.66

Assets Backing Ratio

178.34

175.20

142.86

PERFORMANCE RATIO (%)

 

 

 

Operating Profit Margin

4.70

9.48

11.79

Net Profit Margin

4.65

8.78

10.36

Return On Net Assets

17.76

30.72

39.75

Return On Capital Employed

17.70

30.60

39.75

Return On Shareholders' Funds/Equity

17.54

28.40

27.44

Dividend Pay Out Ratio (Times)

0.90

0.34

0.29

NOTES TO ACCOUNTS

 

 

 

Contingent Liabilities

0

0

0





 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

        Rs.60.70

UK Pound

1

Rs.100.97

Euro

1

Rs.84.16

 

 

INFORMATION DETAILS

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.