|
Report No. : |
307155 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIMADZU (ASIA PACIFIC) PTE LTD |
|
|
|
|
Registered Office : |
79, Science Park Drive, 02-01/08, Cintech Iv, Singapore Science Park, 118264 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
18.10.1989 |
|
|
|
|
Com. Reg. No.: |
198904521-E |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Engaged in Research & Experimental Development, Trading of Biotechnology, Life & Medical Science Related Equipment · Engaged in manufacturing Analytical & Measuring Instruments Subject products
are as follows:
· Liquid Chromatograph · Gas Chromatograph · Data Systems for LC/GC · Mass Spectrometer Systems · Spectroscopy Products · Life Science Lab Equipment · TOC Analyzers and Water Quality Analyzers · Continuous Gas Analyzers · Surface Analysis Apparatus · Thermal Analysis Instruments · X-ray Spectroscopic Apparatus · X-ray Diffractometer Testing & Inspection Machines · Universal testing machines · Fatigue testing machines · Hardness tester · Viscosity & flow testing instruments · Non-Destructive inspection machines · Powders & Particle Size Analyzers · High-Speed Video Camera Balances & Scales · Dual-range Semi-micro Balances · Analytical Balances · Top-loading Balances · Portable Balances · High-precision Platform Balances · Application Balances · Electronic Printer Medical Systems & Equipment · Angiography · Fluoroscopy · Mobile X-ray · Radiography · Surgical C-arm |
|
|
|
|
No. of Employees : |
118 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
198904521-E |
|
COMPANY NAME |
: |
SHIMADZU (ASIA PACIFIC) PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
18/10/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
79, SCIENCE PARK DRIVE, 02-01/08, CINTECH
IV, SINGAPORE SCIENCE PARK, 118264, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
79 SCIENCE PARK DRIVE # 02-01/08 CINTECH
IV SINGAPORE SCIENCE, PARK 1, 118264, SINGAPORE. |
|
TEL.NO. |
: |
65-67786280 |
|
FAX.NO. |
: |
65-67792935 |
|
CONTACT PERSON |
: |
KIMINOBU IMURA ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
·
Engaged
in Research & Experimental Development, Trading of Biotechnology, Life
& Medical Science Related Equipment · Engaged in manufacturing Analytical & Measuring Instruments |
|
ISSUED AND PAID UP CAPITAL |
: |
3,150,000.00 ORDINARY SHARE, OF A VALUE OF SGD 3,150,000.00 |
|
SALES |
: |
USD 143,213,992 [2014] |
|
NET WORTH |
: |
USD 64,237,782 [2014] |
|
STAFF STRENGTH |
: |
118 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) research &
experimental development, trading of biotechnology, life & medical science
related equipment.
The immediate holding company of the Subject is SHIMADZU CORPORATION, a
company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
01/10/2014 |
SGD 3,150,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHIMADZU CORPORATION |
1, NISHINOKYO-KUWABARACHO, NAKAGYO-KU KYOYO, 604-8511, JAPAN. |
S89UF0368 |
3,150,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
3,150,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
AUSTRALIA |
SHIMADZU SCIENTIFIC INSTRUMENTS (OCEANIA) PTY LTD |
100.00 |
31/03/2014 |
|
|
200005693N |
SINGAPORE |
SHIMADZU SINGAPORE PTE LTD |
100.00 |
31/03/2014 |
|
PHILIPPINES |
SHIMADZU PHILIPPINES CORPORATION |
100.00 |
31/03/2014 |
|
|
AUSTRALIA |
SHIMADZU MEDICAL SYSTEMS (OCEANIA) PTY LTD |
100.00 |
31/03/2014 |
|
|
INDIA |
SHIMADZU ANALYTICAL (INDIA) PRIVATE LIMITED |
100.00 |
31/03/2014 |
|
|
INDIA |
SHIMADZU MEDICAL (INDIA) PRIVATE LIMITED |
100.00 |
31/03/2014 |
|
DIRECTOR 1
|
Name Of Subject |
: |
JIRO TAKASHIMA |
|
Address |
: |
108, SEKIMACHI-MINAMI, 1-124, NERIMA, TOKYO 177-0053, JAPAN. |
|
IC / PP No |
: |
TH2188682 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
28/06/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
WATARU TAJIMA |
|
Address |
: |
3-10-20, FUNABASHI, SETAGAYA-KU, 156-0055, JAPAN. |
|
IC / PP No |
: |
MS4210148 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
28/06/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
SHUNJI FUKUI |
|
Address |
: |
15, TONG WATT ROAD, 22-09, THE WHARF RESIDENCE, SINGAPORE. |
|
IC / PP No |
: |
G3018385T |
|
Date of Appointment |
: |
01/04/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. KIMINOBU IMURA |
|
Address |
: |
99, ROBERTSON QUAY, 15-16, RIVERGATE, 238258, SINGAPORE. |
|
IC / PP No |
: |
G5222903R |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
28/06/2012 |
DIRECTOR 5
|
Name Of Subject |
: |
TARO TAKAHATA |
|
Address |
: |
8-10-13 MIYAMOTO, FUNABASHI CITY, CHIBA PREFECTURE, JAPAN. |
|
IC / PP No |
: |
TZ0260919 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
26/06/2009 |
|
1) |
Name of Subject |
: |
KIMINOBU IMURA |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
DELOTTE & TOUCHE LLP |
|
Auditor' Address |
: |
6, SHENTON WAY, 32-00, 068809, SINGAPORE |
|
Auditor |
: |
DELOTTE & TOUCHE LLP |
|
Auditor' Address |
: |
6, SHENTON WAY, 32-00, 068809, SINGAPORE |
|
1) |
Company Secretary |
: |
JENNIFER LEE SIEW JEE |
|
IC / PP No |
: |
S1336064B |
|
|
Address |
: |
2, ENG KONG ROAD, 599081, 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 againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
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 |
[ |
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 |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
MEDICAL EQUIPMENT, INSTRUMENTS |
|
|
Services |
: |
RESEARCH & EXPERIMENTAL DEVELOPMENT SERVICES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
118 |
118 |
110 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) research &
experimental development, trading of biotechnology, life & medical science
related equipment.
Subject is also engaged in manufacturing analytical & measuring instruments
Product details:-
Laboratory
Instruments
· Liquid Chromatograph
· Gas Chromatograph
· Data Systems for LC/GC
· Mass Spectrometer Systems
· Spectroscopy Products
· Life Science Lab Equipment
· TOC Analyzers and Water Quality Analyzers
· Continuous Gas Analyzers
· Surface Analysis Apparatus
· Thermal Analysis Instruments
· X-ray Spectroscopic Apparatus
· X-ray Diffractometer
Testing & Inspection Machines
· Universal testing machines
· Fatigue testing machines
· Hardness tester
· Viscosity & flow testing instruments
· Non-Destructive inspection machines
· Powders & Particle Size Analyzers
· High-Speed Video Camera
Balances & Scales
· Dual-range Semi-micro Balances
· Analytical Balances
· Top-loading Balances
· Portable Balances
· High-precision Platform Balances
· Application Balances
· Electronic Printer
Medical Systems & Equipment
· Angiography
· Fluoroscopy
· Mobile X-ray
· Radiography
·
Surgical C-arm
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6567786280 |
|
Current Telephone Number |
: |
65-67786280 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
79 SCIENCE PARK DRIVE 02-01/08 CINTECH IV SINGAPORE SCIENCE, PARK
1,118264 SINGAPORE |
|
Current Address |
: |
79 SCIENCE PARK DRIVE # 02-01/08 CINTECH IV SINGAPORE SCIENCE, PARK 1,
118264, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
we contacted one of
the staff from the Subject and she provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.99% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.47% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The Subject's profit fell sharply because
of the high operating costs incurred. 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 |
[ |
44 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
72 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
22 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 |
[ |
2.42 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.00 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 : |
||||||
|
The Subject's performance deteriorated over the years with lower
turnover and profit. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. 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 : |
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 |
|
|
Incorporated in 1989, the Subject is a
Private Limited company, focusing on research & experimental development,
trading of biotechnology, life & medical science related equipment. The
Subject has been in business for over two 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. The paid up capital of the Subject is SGD 3,150,000. Having
strong support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment. With an adequate
share capital, the Subject has the potential of expanding its business in
future.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
SHIMADZU (ASIA PACIFIC) PTE LTD |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2010-12-31 |
|
Months |
12 |
12 |
15 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
143,213,992 |
151,249,193 |
184,052,158 |
11,926,666,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
143,213,992 |
151,249,193 |
184,052,158 |
11,926,666,000 |
|
Costs of Goods Sold |
- |
- |
(129,187,895) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
54,864,263 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
945,144 |
3,775,844 |
9,228,992 |
583,184,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
945,144 |
3,775,844 |
9,228,992 |
583,184,000 |
|
Taxation |
(312,204) |
(354,417) |
(1,361,292) |
(72,255,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
632,940 |
3,421,427 |
7,867,700 |
510,929,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
67,169,848 |
63,748,421 |
60,077,082 |
4,684,884,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
67,169,848 |
63,748,421 |
60,077,082 |
4,684,884,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
67,802,788 |
67,169,848 |
67,944,782 |
5,195,813,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(6,000,000) |
- |
(4,196,361) |
(293,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
61,802,788 |
67,169,848 |
63,748,421 |
4,902,813,000 |
|
============= |
============= |
============= |
============= |
|
|
SHIMADZU (ASIA PACIFIC) PTE LTD |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
1,342,442 |
1,540,642 |
1,596,853 |
131,325,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
3,796,477 |
4,232,999 |
4,227,029 |
292,482,000 |
|
Others |
- |
- |
- |
3,297,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,796,477 |
4,232,999 |
4,227,029 |
295,779,000 |
|
Others |
40,064 |
40,064 |
40,064 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
40,064 |
40,064 |
40,064 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,178,983 |
5,813,705 |
5,863,946 |
427,104,000 |
|
Stocks |
17,164,113 |
14,256,011 |
23,848,118 |
1,571,173,000 |
|
Trade debtors |
28,369,209 |
27,591,151 |
26,606,275 |
2,785,311,000 |
|
Other debtors, deposits & prepayments |
1,286,530 |
6,297,018 |
1,067,158 |
61,018,000 |
|
Amount due from holding company |
985,080 |
474,883 |
406,814 |
- |
|
Amount due from subsidiary companies |
4,587,079 |
5,542,429 |
3,856,771 |
- |
|
Amount due from related companies |
1,053,160 |
1,020,608 |
1,014,531 |
- |
|
Cash & bank balances |
35,098,317 |
40,096,178 |
39,083,199 |
2,832,649,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
88,543,488 |
95,278,278 |
95,882,866 |
7,250,151,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
93,722,471 |
101,091,983 |
101,746,812 |
7,677,255,000 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
8,695,759 |
9,994,842 |
14,152,480 |
2,305,275,000 |
|
Other creditors & accruals |
1,549,253 |
1,435,192 |
896,956 |
179,605,000 |
|
Amounts owing to holding company |
8,537,252 |
10,532,357 |
7,710,047 |
- |
|
Amounts owing to subsidiary companies |
9,668,746 |
8,764,349 |
7,998,559 |
- |
|
Amounts owing to related companies |
832,152 |
538,530 |
1,041,229 |
- |
|
Provision for taxation |
201,527 |
221,871 |
1,564,403 |
89,203,000 |
|
Dividends payable/proposed |
- |
- |
2,199,723 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
29,484,689 |
31,487,141 |
35,563,397 |
2,574,083,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
59,058,799 |
63,791,137 |
60,319,469 |
4,676,068,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
2,434,994 |
2,434,994 |
2,434,994 |
200,359,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,434,994 |
2,434,994 |
2,434,994 |
200,359,000 |
|
Retained profit/(loss) carried forward |
61,802,788 |
67,169,848 |
63,748,421 |
4,902,813,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
61,802,788 |
67,169,848 |
63,748,421 |
4,902,813,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
|
============= |
============= |
============= |
============= |
|
|
SHIMADZU (ASIA PACIFIC) PTE LTD |
|
TYPES OF FUNDS |
||||
|
Cash |
35,098,317 |
40,096,178 |
39,083,199 |
2,832,649,000 |
|
Net Liquid Funds |
35,098,317 |
40,096,178 |
39,083,199 |
2,832,649,000 |
|
Net Liquid Assets |
41,894,686 |
49,535,126 |
36,471,351 |
3,104,895,000 |
|
Net Current Assets/(Liabilities) |
59,058,799 |
63,791,137 |
60,319,469 |
4,676,068,000 |
|
Net Tangible Assets |
64,197,718 |
69,564,778 |
66,143,351 |
5,103,172,000 |
|
Net Monetary Assets |
41,894,686 |
49,535,126 |
36,471,351 |
3,104,895,000 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
29,484,689 |
31,487,141 |
35,563,397 |
2,574,083,000 |
|
Total Assets |
93,722,471 |
101,091,983 |
101,746,812 |
7,677,255,000 |
|
Net Assets |
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
Net Assets Backing |
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
Shareholders' Funds |
64,237,782 |
69,604,842 |
66,183,415 |
5,103,172,000 |
|
Total Share Capital |
2,434,994 |
2,434,994 |
2,434,994 |
200,359,000 |
|
Total Reserves |
61,802,788 |
67,169,848 |
63,748,421 |
4,902,813,000 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
1.19 |
1.27 |
1.10 |
1.10 |
|
Liquid Ratio |
2.42 |
2.57 |
2.03 |
2.21 |
|
Current Ratio |
3.00 |
3.03 |
2.70 |
2.82 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
44 |
34 |
47 |
48 |
|
Debtors Ratio |
72 |
67 |
53 |
85 |
|
Creditors Ratio |
22 |
24 |
40 |
71 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.46 |
0.45 |
0.54 |
0.50 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
26.36 |
28.57 |
27.16 |
25.47 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
0.66 |
2.50 |
5.01 |
4.89 |
|
Net Profit Margin |
0.44 |
2.26 |
4.27 |
4.28 |
|
Return On Net Assets |
1.47 |
5.42 |
13.94 |
11.43 |
|
Return On Capital Employed |
1.47 |
5.42 |
13.94 |
11.43 |
|
Return On Shareholders' Funds/Equity |
0.99 |
4.92 |
11.89 |
10.01 |
|
Dividend Pay Out Ratio (Times) |
9.48 |
0.00 |
0.53 |
0.57 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.