|
Report No. : |
318247 |
|
Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON PROCESS MANAGEMENT ASIA PACIFIC
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
1, Pandan Crescent, 128461 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
06.08.1965 |
|
|
|
|
Com. Reg. No.: |
196500174-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and wholesale process measuring
and analytical instruments, control valves, regulators and distributed
control system |
|
|
|
|
No. of Employee : |
Not Available |
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. Unemployment is very low. 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. Growth in 2014 was slower at 13.9%, 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. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
196500174-M |
||||
|
COMPANY NAME |
: |
EMERSON PROCESS MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
||||
|
FORMER NAME |
: |
FISHER-ROSEMOUNT SINGAPORE PRIVATE LIMITED (21/05/2002) |
||||
|
INCORPORATION DATE |
: |
06/08/1965 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, PANDAN CRESCENT, 128461, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1, PANDAN CRESCENT, 128461, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-67778211 |
||||
|
FAX.NO. |
: |
65-67770947 |
||||
|
EMAIL |
: |
ENQUIRIES@AP.EMERSONPROCESS.COM |
||||
|
WEB SITE |
: |
WWW.EMERSONPROCESS.COM |
||||
|
CONTACT PERSON |
: |
GOH SAN KENG ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND WHOLESALE PROCESS MEASURING AND ANALYTICAL INSTRUMENTS,
CONTROL VALVES, REGULATORS AND DISTRIBUTED CONTROL SYSTEM |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,268,718.00 ORDINARY SHARE, OF A VALUE OF SGD 26,099,773.00 |
||||
|
SALES |
: |
USD 1,105,232,000 [2013] |
||||
|
NET WORTH |
: |
USD 670,126,000 [2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
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) manufacturing and wholesale process
measuring and analytical instruments, control valves, regulators and
distributed control system.
The immediate
holding company of the Subject is ROSEMOUNT INC, 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 |
|
17/02/2015 |
SGD 26,099,773.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ROSEMOUNT INC |
12001, TECHNOLOGY DR EDEN, PRAIRIE MINNESOTA, 55344, UNITED STATES. |
S65UF0019 |
1,268,718.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,268,718.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. GOH SAN KENG |
|
Address |
: |
6, PANDAN VALLEY, 19-601, POINSETIA TOWER, 597630, SINGAPORE. |
|
IC / PP No |
: |
S1171318A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
28/10/1991 |
DIRECTOR 2
|
Name Of Subject |
: |
LIM MEI YIN |
|
Address |
: |
55, JERVOIS ROAD, 02-01, DORMER PARK, 249047, SINGAPORE. |
|
IC / PP No |
: |
S1804711Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
22/05/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
GOH SAN KENG |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LEONG YOKE YENG |
|
IC / PP No |
: |
S1329872F |
|
|
Address |
: |
123, CORONATION ROAD WEST, 269348, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
JP MORGAN CHASE BANK N.A. |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
5330 |
||||||||
|
Year |
: |
2008 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
03/03/2008 |
|||||||||||
|
Solicitor |
: |
WONG SU-HSIEN AUDREY |
|||||||||||
|
Solicitor Ref |
: |
AW-INS-A5-49824-07-JG |
|||||||||||
|
Solicitor Firm |
: |
VISION LAW LLC |
|||||||||||
|
Plaintiff |
: |
TAN THIAN SOON |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
2687.15 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||||||||
|
No winding up petition was found in our databank |
||
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
OPERATIONS
|
|||
|
Products manufactured |
: |
|
|
|
Services |
: |
MANAGEMENT SERVICES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
1,350 |
1,350 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
wholesale process measuring and analytical instruments, control valves, regulators
and distributed control system.
Background of Emerson Process Group:
The Group is a leading manufacturer and supplier of process measuring &
analytical instruments, control valves, regulators and distributed control
systems. Subject has facilities that include assembly/manufacturing of
transmitters and control valves, stocking & training centre, system
staging, integration & software development centre, other services offered
includes engineering services & project management.
Brand names:
* baumann valves
* contek steam conditioning
* daniel measurement & control ultrasonic flow/orifice flow/turbine,
control valve compact meter provers,
flow measurement solutions
* fisher controls regulators, valves
* francel regulators
* gulde valves
* posi-seal valves
* rosemount pressure, temperature, temp. sensors (rid & t/c), flow, htg,
level, instruments, vortex & mag.
Distributor/agent for:
* Fisher-Rosemount Systems Inc
- control systems
* Brooks Instrument Division
- thermal mass meter/controller & coriolis
- flow controller, variable area flow meter, oval gear pd
* Micro Motion Inc
- mass flowmeters, density, viscosity & gas flow measurement
* Rosemount Analytical Inc
- gas, liquid, lab, combustion analysers
Industries served:
* chemical
* oil and gas
* pulp and paper
* pharmaceutical
* food and beverage
* power
* water and wastewater
* other process-related industries
Subject is a member of the following entity:
* American Chamber of Commerce
CURRENT
INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6567778211 |
|
Current Telephone Number |
: |
65-67778211 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
1 PANDEN CRESCENT SINGAPORE 128461 |
|
Current Address |
: |
1, PANDAN CRESCENT, 128461, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 20th April 2015 we contacted one of the staff from the Subject and she
provided some information.
She refused to disclose the Subject's number of employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
19.19% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
20.39% |
] |
|
|
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 management have been efficient in controlling its operating costs.
The Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
34 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 |
[ |
2.46 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.61 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 |
[ |
68,359.00 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. |
||||||
|
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. 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 : |
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 |
|
In the third quarter of 2014, manufacturing output has increased by
1.9%, extending the 1.5% growth in the previous quarter. Growth was largely driven
by the biomedical manufacturing and chemicals clusters. Besides, for the
whole 2013, the manufacturing sector grew by 1.7%, an uptick from the 0.3%
growth recorded in the previous year. All clusters recorded an expansion in
2013, except the biomedical manufacturing cluster. |
|
|
The chemicals cluster grew by 5.2% in the third quarter of 2014.
Growth was led by the petrochemicals and specialty chemicals segments, which
expanded by 8.9% and 7.1% respectively. By contrast, the petroleum segment
contracted by 4.2% in the third quarter of 2014 due to plant maintenance
shutdowns. For the year of 2013, the chemicals cluster grew only by 0.7%. |
|
|
Besides, output of the biomedical manufacturing cluster expanded by 9.0%
in the third quarter of 2014. The medical technology segment posted robust
growth of 23% due to higher production of medical instruments and supplies,
while the output of the pharmaceuticals segment rose by 6.2%. However, in the
whole of 2013, the biomedical manufacturing cluster recorded only a flat
growth. |
|
|
In the third quarter of 2014, the transport engineering cluster
contracted by 2.0%, dragged down by the aerospace segment. Output in the
aerospace segment plunged by 18% on the back of fewer repair jobs from
commercial airlines. This was mitigated by the 4.1% growth in the marine
& offshore engineering segment, which was supported by higher
contributions from rig building projects. Nonetheless, for the whole of 2013,
the transport engineering cluster grew by 5.2%. |
|
|
Moreover, output of the precision engineering cluster increased by
1.3% in the third quarter of 2014. The machinery & systems segment grew
by 6.2%, supported by higher demand for semiconductor-related equipment and
mechanical engineering work. This was partly offset by the decline in the
output of the precision modules & components segment. Conversely, in the
full year of 2013, the precision engineering cluster's output declined by
5.6%. |
|
|
Furthermore, in the third quarter of 2014, output of the general
manufacturing industries declined by 3.0%. The 2.1% growth in the food,
beverages & tobacco segment was more than offset by declines in the other
two segments. In particular, the miscellaneous industries segment contracted
by 4.7% on the back of lower output in construction-related products, such as
concrete & cement products and steel structural components. For the full
year of 2013, the general manufacturing cluster grew by 2.8%. |
|
|
Besides, in the third quarter of 2014, the electronics cluster
expanded by 0.9%, reversing the 5.0% contraction in the previous quarter.
Growth was supported by an expansion in the computer peripherals (6.3%) and
data storage (2.6%) segments. Moreover, for the year 2013, the electronics
cluster expanded by 3.5%. |
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
EMERSON PROCESS
MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
|
Financial Year End |
2013-09-30 |
2012-09-30 |
2011-09-30 |
|
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 |
1,105,232,000 |
1,009,307,000 |
861,362,000 |
|
Other Income |
6,269,000 |
5,543,000 |
6,098,000 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,111,501,000 |
1,014,850,000 |
867,460,000 |
|
Costs of Goods Sold |
(855,028,000) |
(777,058,000) |
(649,317,000) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
256,473,000 |
237,792,000 |
218,143,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
136,716,000 |
123,843,000 |
116,301,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
136,716,000 |
123,843,000 |
116,301,000 |
|
Taxation |
(8,094,000) |
(7,340,000) |
(5,988,000) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
128,622,000 |
116,503,000 |
110,313,000 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
566,203,000 |
489,700,000 |
424,387,000 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
566,203,000 |
489,700,000 |
424,387,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
694,825,000 |
606,203,000 |
534,700,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(41,000,000) |
(40,000,000) |
(45,000,000) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
653,825,000 |
566,203,000 |
489,700,000 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
2,000 |
23,000 |
10,000 |
|
---------------- |
---------------- |
---------------- |
|
|
2,000 |
23,000 |
10,000 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
9,626,000 |
8,232,000 |
6,863,000 |
|
---------------- |
---------------- |
---------------- |
|
|
9,626,000 |
8,232,000 |
6,863,000 |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
EMERSON PROCESS
MANAGEMENT ASIA PACIFIC PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
56,195,000 |
32,829,000 |
31,203,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary companies |
12,287,000 |
12,287,000 |
12,401,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
12,287,000 |
12,287,000 |
12,401,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
68,482,000 |
45,116,000 |
43,604,000 |
|
Stocks |
55,171,000 |
47,756,000 |
33,056,000 |
|
Trade debtors |
74,630,000 |
80,968,000 |
110,571,000 |
|
Other debtors, deposits & prepayments |
8,895,000 |
5,284,000 |
4,260,000 |
|
Short term deposits |
- |
- |
21,944,000 |
|
Amount due from related companies |
811,183,000 |
712,634,000 |
593,297,000 |
|
Cash & bank balances |
26,207,000 |
27,433,000 |
7,561,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
976,086,000 |
874,075,000 |
770,689,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,044,568,000 |
919,191,000 |
814,293,000 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
80,276,000 |
88,065,000 |
117,968,000 |
|
Other creditors & accruals |
55,680,000 |
51,973,000 |
42,044,000 |
|
Bill & acceptances payable |
- |
- |
23,734,000 |
|
Amounts owing to holding company |
3,790,000 |
4,461,000 |
- |
|
Amounts owing to subsidiary companies |
28,705,000 |
12,541,000 |
- |
|
Amounts owing to related companies |
186,574,000 |
165,931,000 |
108,747,000 |
|
Provision for taxation |
8,788,000 |
7,773,000 |
8,517,000 |
|
Other liabilities |
10,154,000 |
5,200,000 |
6,397,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
373,967,000 |
335,944,000 |
307,407,000 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
602,119,000 |
538,131,000 |
463,282,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
670,601,000 |
583,247,000 |
506,886,000 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
15,091,000 |
15,091,000 |
15,091,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
15,091,000 |
15,091,000 |
15,091,000 |
|
Revaluation reserve |
1,210,000 |
1,210,000 |
1,210,000 |
|
Retained profit/(loss) carried forward |
653,825,000 |
566,203,000 |
489,700,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
655,035,000 |
567,413,000 |
490,910,000 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
670,126,000 |
582,504,000 |
506,001,000 |
|
Deferred taxation |
475,000 |
743,000 |
885,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
475,000 |
743,000 |
885,000 |
|
---------------- |
---------------- |
---------------- |
|
|
670,601,000 |
583,247,000 |
506,886,000 |
|
|
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
EMERSON PROCESS MANAGEMENT
ASIA PACIFIC PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||
|
Cash |
26,207,000 |
27,433,000 |
29,505,000 |
|
Net Liquid Funds |
26,207,000 |
27,433,000 |
5,771,000 |
|
Net Liquid Assets |
546,948,000 |
490,375,000 |
430,226,000 |
|
Net Current Assets/(Liabilities) |
602,119,000 |
538,131,000 |
463,282,000 |
|
Net Tangible Assets |
670,601,000 |
583,247,000 |
506,886,000 |
|
Net Monetary Assets |
546,473,000 |
489,632,000 |
429,341,000 |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
136,718,000 |
123,866,000 |
116,311,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
146,344,000 |
132,098,000 |
123,174,000 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
23,734,000 |
|
Total Liabilities |
374,442,000 |
336,687,000 |
308,292,000 |
|
Total Assets |
1,044,568,000 |
919,191,000 |
814,293,000 |
|
Net Assets |
670,601,000 |
583,247,000 |
506,886,000 |
|
Net Assets Backing |
670,126,000 |
582,504,000 |
506,001,000 |
|
Shareholders' Funds |
670,126,000 |
582,504,000 |
506,001,000 |
|
Total Share Capital |
15,091,000 |
15,091,000 |
15,091,000 |
|
Total Reserves |
655,035,000 |
567,413,000 |
490,910,000 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.07 |
0.08 |
0.10 |
|
Liquid Ratio |
2.46 |
2.46 |
2.40 |
|
Current Ratio |
2.61 |
2.60 |
2.51 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
18 |
17 |
14 |
|
Debtors Ratio |
25 |
29 |
47 |
|
Creditors Ratio |
34 |
41 |
66 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
0.05 |
|
Liabilities Ratio |
0.56 |
0.58 |
0.61 |
|
Times Interest Earned Ratio |
68,359.00 |
5,385.48 |
11,631.10 |
|
Assets Backing Ratio |
44.44 |
38.65 |
33.59 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
12.37 |
12.27 |
13.50 |
|
Net Profit Margin |
11.64 |
11.54 |
12.81 |
|
Return On Net Assets |
20.39 |
21.24 |
22.95 |
|
Return On Capital Employed |
20.39 |
21.24 |
22.95 |
|
Return On Shareholders' Funds/Equity |
19.19 |
20.00 |
21.80 |
|
Dividend Pay Out Ratio (Times) |
0.32 |
0.34 |
0.41 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.