|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMERICAN POWER CONVERSION CORP.(APC) B.V. |
|
|
|
|
Registered Office : |
Lot 3 Block 4, Phase III – C, Rosario, 4106 |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
11.01.2002 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Engaged in industrial and commercial activities, specifically the
manufacture of computer related products. |
|
|
|
|
No. of Employees |
Not Available |
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) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
PHILIPPINES - ECONOMIC OVERVIEW
The economy has weathered global
economic and financial downturns better than its regional peers due to minimal
exposure to troubled international securities, lower dependence on exports,
relatively resilient domestic consumption, large remittances from four- to
five-million overseas Filipino workers, and a rapidly expanding business
process outsourcing industry. The current account balance had recorded
consecutive surpluses since 2003; international reserves are at record highs;
the banking system is stable; and the stock market was Asia's second
best-performer in 2012. Efforts to improve tax administration and expenditure
management have helped ease the Philippines' tight fiscal situation and reduce
high debt levels. The Philippines has received several credit rating upgrades
on its sovereign debt, and has had little difficulty tapping domestic and
international markets to finance its deficits. Economic growth in the
Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration, but
poverty worsened during her term. Growth has accelerated under the AQUINO
government, but with limited progress thus far in bringing down unemployment,
which hovers around 7%, and improving the quality of jobs. Underemployment is
nearly 20% and more than 40% of the employed are estimated to be working in the
informal sector. The AQUINO administration has been working to boost the
budgets for education, health, cash transfers to the poor, and other social
spending programs, and is relying on the private sector to help fund major
infrastructure projects under its Public-Private Partnership program. Long term
challenges include reforming governance and the judicial system, building
infrastructure, improving regulatory predictability, and the ease of doing
business, attracting higher levels of local and foreign investments. The
Philippine Constitution and the other laws continue to restrict foreign
ownership in important activities/sectors (such as land ownership and public
utilities)
|
Source
: CIA |
Company: AMERICAN POWER CONVERSION CORP.
Address: Lot 3 Block 4, Phase III – C, Rosario, 4106
Country: PHILIPPINES
We conducted research and investigation on AMERICAN POWER CONVERSION CORP. (APC) B.V.,
which showed the following, viz:
REGISTRATION –
Certificate No. : A2001-19166
Date : January 11, 2002
Term : Fifty (50) years
Corporate Tax
ID No, : 217-749-284-000
Tel./Fax Nos. : (63) 046 437-1506 / (63) 046 437-3280
Country where organized : Amsterdam, The Netherlands
Address : 2nd
Street, Phil. Economic Zone Authority (PEZA), Rosario, :Cavite Province
CAPITALIZATION - (Per GIS dated 2013)
Assigned Capital: US$100,000.
OFFICERS – (As of 2013)
James A. Tabojka
(American), Managing Director
Myrna Asistores
(Filipino), Financial Controller
STATEMENT OF
FINANCIAL POSITION
|
ASSETS |
|||
|
Current Assets |
2012 |
2011 |
2010 |
|
Cash |
US$ 48,050,113. |
US$ 2,009,819. |
US$ 1,565,561. |
|
Trade & Other
Receivables-Net |
460,203,449. |
340,018,380. |
172,977,965. |
|
Inventories |
80,441,867. |
101,358,835. |
93,968,911. |
|
Other Current Assets |
1,434,628. |
18,216,575. |
10,447,772. |
|
Total Current Assets |
US$ 590,130,057. |
US$ 461,603,609. |
US$ 278,960,209. |
|
|
|
|
|
|
Non-Current Assets |
|
|
|
|
Prop., Plant &
Equipment-Net |
US$ 46,314,398. |
US$ 49,954,324. |
US$ 39,760,607. |
|
Deferred Tax Assets |
83,416. |
49,629. |
44,713. |
|
Other Non-Current Assets |
796,423. |
272,643. |
139,321. |
|
Total Non-Current Assets |
U$$ 47,194,237. |
US$ 50,276,596. |
US$ 39,944,641. |
|
TOTAL ASSETS |
US$ 637,324,294. vvvvvvvvvvvvvvvv |
US$ 511,880,205. vvvvvvvvvvvvvvvv |
US$ 318,904,850. vvvvvvvvvvvvvvvvvv |
|
|
|
|
|
|
LIABILITIES & HEAD OFFICE
ACCT. |
|
|
|
|
Current Liabilities |
|
|
|
|
Trade and Other Payables |
US$ 95,254,995. |
US$ 142,783,312. |
US$ 88,558,195. |
|
Income Tax Payable |
3,867,392. |
2,990,039. |
3,564,497. |
|
Total Current Liabilities |
US$ 99,122,387. |
US$ 145,773,351. |
US$ 92,122,692. |
|
|
|
|
|
|
Non-Current Liabilities |
|
|
|
|
Accrued Rent |
US$ 370,427. |
US$ 364,547. |
US$ 382,241. |
|
Pension Liability |
1,522,302. |
743,333. |
682,701. |
|
Total Non-Current Liabilities |
US$ 1,892,729. |
US$ 1,107,880. |
US$ 1,064,942. |
|
Total Liabilities |
US$101,015,116. |
US$ 146,881,231. |
US$ 93,187,634. |
|
|
|
|
|
|
HEAD OFFICE ACCOUNT |
|
|
|
|
Assigned Capital |
US$ 100,000. |
US$ 100,000. |
US$ 100,000. |
|
Accumulated Earnings |
536,209,178. |
364,898,974. |
225,617,216. |
|
Total Head Office Account |
536,309,178. |
364,998,974. |
225,717,216. |
|
TOTAL
LIABILITIES & HEAD OFFICE ACCOUNT |
US$ 637,324,294. vvvvvvvvvvvvvvvv |
US$ 511,880,205. vvvvvvvvvvvvvvvvv |
US$ 318,904,850. vvvvvvvvvvvvvvvvv |
|
|
2012 |
2011 |
2010 |
|
Net Sales |
US$1,096,397,408. |
US$ 996,516,416. |
US$ 831,669,008. |
|
Cost of Goods Sold |
864,088,404. |
771,138,747. |
647,322,876. |
|
Gross Income |
232,309,004. |
225,377,669. |
184,346,132. |
|
General And Administrative Expenses |
( 50,229,317.) |
( 74,807,678.) |
( 78,199,870.) |
|
Foreign Exchange Gain/(Loss)-Net |
( 1,275,674.) |
( 2,605,936.) |
1,641,776. |
|
Interest Income |
2,446,707. |
206,758. |
82,168. |
|
Loss on Disposal of Property, plant and Equipment |
NIL |
( 9,271.) |
( 105,802.) |
|
Miscellaneous Income |
531,845. |
446,138. |
166,898. |
|
Other Expenses |
( 850,684.) |
( 75,641.) |
NIL |
|
Income Before
Income Tax |
US$ 182,931,881. |
US$ 148,531,839. |
US$ 107,931,302. |
|
Net Income |
US$ 171,310,204. vvvvvvvvvvvvvvvv |
US$ 139,281,758. vvvvvvvvvvvvvvvv |
US$ 97,982,896. vvvvvvvvvvvvvvvvvv |
As gathered, American Power Conversion Corporation (A.P.C,) B.V.,
Philippine Branch, is a company Incorporated in Amsterdam, Netherlands .Engaged
in industrial and commercial activities, specifically the manufacture of
computer related products.
A subsidiary company of Schneider Electric, a French global
company, based in West Kingston, Rhode Island in United States. It is a maker
of AC and DC-based back-up power products and services. The company
manufactures unintb.erruptible power supply (UPS) devices, surge protectors,
precision cooling products, and related items.
Another company, AMERICAN POWER CONVERSION (PHILS.) INC.,, wholly owned
subsidiary of American Power Conversion
B.V., is a SEC registered company
in 1996 with address at 2nd Street, Cavite EPZ Road, Rosario,
Cavite. Head of Phil. operation is James Allen Tabojka (American).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.