|
Report No. : |
329335 |
|
Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIFE TECHNOLOGIES HOLDINGS PTE. LTD. |
|
|
|
|
Formerly Known As : |
INVITROGEN SINGAPORE PTE LTD (01/10/2011) INVITROGEN (SINGAPORE) PTE LTD (21/08/2001) |
|
|
|
|
Registered Office : |
33, Marsiling Ind Estate Road, 3, 07-06, 739256 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.07.2001 |
|
|
|
|
Com. Reg. No.: |
200104491-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture, Distribution, Sales And Service Of In-Vitro Diagnostic Medical Devices. |
|
|
|
|
No. of Employees : |
80 [2015] |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
|
|
REGISTRATION NO. |
: |
200104491-K |
|
COMPANY NAME |
: |
LIFE
TECHNOLOGIES HOLDINGS PTE. LTD. |
|
FORMER NAME |
: |
INVITROGEN SINGAPORE PTE LTD (01/10/2011) |
|
INCORPORATION DATE |
: |
07/07/2001 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
33, MARSILING IND ESTATE ROAD, 3, 07-06,
739256, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
BLOCK 33, MARSILING INDUSTRIAL ESTATE ROAD
3, 07-06, 739256, SINGAPORE. |
|
TEL.NO. |
: |
65-68618638 |
|
FAX.NO. |
: |
65-68619391 |
|
WEB SITE |
: |
WWW.LIFETECHNOLOGIES.COM |
|
CONTACT PERSON |
: |
VINOD KUMAR DEWAN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE, DISTRIBUTION, SALES AND SERVICE
OF IN-VITRO DIAGNOSTIC MEDICAL DEVICES. |
|
ISSUED AND PAID UP CAPITAL |
: |
112,614,306.00 ORDINARY SHARE, OF A VALUE
OF SGD 112,614,306.00 |
|
SALES |
: |
USD 531,208,654 [2013] |
|
NET WORTH |
: |
USD 164,119,605 [2013] |
|
STAFF STRENGTH |
: |
80 [2015] |
|
LITIGATION |
: |
CLEAR |
|
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) manufacture, distribution, sales and service of in-vitro diagnostic medical devices..
The immediate holding company of the Subject is APPLIED BIOSYSTEMS B.V., a company incorporated in NETHERLANDS.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
29/06/2015 |
SGD 112,614,306.00 |
The major shareholder(s) of the Subject are shown
as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
APPLIED BIOSYSTEMS B.V. |
HOOGEVEENENWEG 100, 2913, LV NIEUWERKERK
A/D IJSSEL, THE, NETHERLANDS. |
T09UF1663 |
112,614,306.00 |
100.00 |
|
--------------- |
------ |
|||
|
112,614,306.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. VINOD KUMAR DEWAN |
|
Address |
: |
98, CELTIC CRESCENT ELLERSILE,
AUCKLAND-1051, NEW ZEALAND. |
|
IC / PP No |
: |
LN420628 |
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
01/12/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
GENOFFIR MAUD MACLEOD |
|
Address |
: |
57, FOTHERINGAY ROAD GLASGOW, G41 4NN, SCOTLAND,
UNITED KINGDOM. |
|
IC / PP No |
: |
099057983 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
21/12/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
JOYDEEP GOSWAMI |
|
Address |
: |
15, ARDMORE PARK, 23-04, ARDMORE PARK,
259959, SINGAPORE. |
|
IC / PP No |
: |
G3002713U |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
30/04/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
ANG ENG KHOON |
|
Address |
: |
271C, PUNGGOL WALK, 06-537, 823271, KUALA
LANGAT, SINGAPORE. |
|
IC / PP No |
: |
S7213787F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/04/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
VINOD KUMAR DEWAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
PECK JEN JEN |
|
IC / PP No |
: |
S7719162C |
|
|
Address |
: |
940, HOUGANG STREET 92, 13-17, 530940, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
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.
No legal action was found in our databank.
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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
80 |
80 |
80 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture,
distribution, sales and service of in-vitro diagnostic medical devices..
The Subject is a global life sciences company that believes in the power of
science to transform lives.
To support scientists worldwide, the Subject offers high-quality, innovative
solutions—from everyday essentials to instruments—for every lab, every application.
All from the most cited life science brands.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68618638 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
BLK 33, MARSILING INDUSTRIAL ESTATE ROAD
3, 07-06,,739256,SINGAPORE |
|
Current Address |
: |
BLOCK 33, MARSILING INDUSTRIAL ESTATE ROAD
3, 07-06, 739256, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
83.10% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
85.38% |
] |
|
|
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. Generally the Subject was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the Subject's management was efficient in utilising the assets to
generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
39 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
16 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.31 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.49 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 |
[ |
259.05 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
|
|
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 80
employees in its business operations. Overall, we regard that the Subject's
management capability is average. This indicates that the Subject has greater
potential to improve its business performance and raising income for the
Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
Based on the higher profitability, the Subject has generated a favourable return
based on its existing shareholders' funds 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
164,119,605, the Subject should be able to maintain its business in the near
terms. Overall, the Subject's payment habit is
good as the Subject has a good credit control and it could be taking
advantage of the cash discounts while maintaining a good reputation with its
creditors. The industry has reached its optimum level
and is generally stable. It is saturated and very competitive. Thus, the
Subject's growth prospect is very much depends on its capacity in sustaining
its performance in the market. 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. |
|
LIFE TECHNOLOGIES
HOLDINGS PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
531,208,654 |
494,206,889 |
143,151,555 |
24,698,751 |
17,249,462 |
|
Other Income |
(1,077,173) |
1,556,214 |
1,325,806 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
530,131,481 |
495,763,103 |
144,477,361 |
24,698,751 |
17,249,462 |
|
Costs of Goods Sold |
(302,287,242) |
(263,275,182) |
(79,481,360) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
227,844,239 |
232,487,921 |
64,996,001 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
139,580,941 |
110,769,567 |
32,175,789 |
1,127,729 |
927,712 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
139,580,941 |
110,769,567 |
32,175,789 |
1,127,729 |
927,712 |
|
Taxation |
(3,198,285) |
(5,216,111) |
(2,092,758) |
(126,500) |
(188,011) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
136,382,656 |
105,553,456 |
30,083,031 |
1,001,229 |
739,701 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
125,167,037 |
19,613,581 |
4,530,550 |
(107,341,239) |
(108,080,940) |
|
Prior year adjustment |
(29,283,872) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
95,883,165 |
19,613,581 |
4,530,550 |
(107,341,239) |
(108,080,940) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
232,265,821 |
125,167,037 |
34,613,581 |
(106,340,010) |
(107,341,239) |
|
DIVIDENDS - Ordinary (paid & proposed) |
(155,000,000) |
- |
(15,000,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
77,265,821 |
125,167,037 |
19,613,581 |
(106,340,010) |
(107,341,239) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Others |
540,914 |
914,924 |
362,651 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
540,914 |
914,924 |
362,651 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
2,411,128 |
2,588,428 |
821,120 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,411,128 |
2,588,428 |
821,120 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
|
|
LIFE
TECHNOLOGIES HOLDINGS PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
8,714,190 |
6,842,931 |
6,878,952 |
482,007 |
614,584 |
|
Deferred assets |
1,212,619 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,212,619 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
9,926,809 |
6,842,931 |
6,878,952 |
482,007 |
614,584 |
|
Stocks |
56,554,761 |
50,930,749 |
35,004,006 |
- |
- |
|
Trade debtors |
22,711,465 |
88,599,107 |
46,963,314 |
- |
- |
|
Other debtors, deposits & prepayments |
5,725,668 |
5,069,789 |
5,052,592 |
- |
- |
|
Amount due from related companies |
373,006,517 |
167,962,562 |
60,285,184 |
- |
- |
|
Cash & bank balances |
13,594,928 |
3,911,997 |
6,600,951 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
471,593,339 |
316,474,204 |
153,906,047 |
9,866,479 |
9,443,945 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
481,520,148 |
323,317,135 |
160,784,999 |
10,348,486 |
10,058,529 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
8,621,032 |
5,845,171 |
41,527,410 |
- |
- |
|
Other creditors & accruals |
10,711,186 |
9,070,666 |
5,619,792 |
- |
- |
|
Amounts owing to related companies |
284,331,243 |
86,154,815 |
- |
- |
- |
|
Provision for taxation |
5,385,333 |
4,590,619 |
2,038,830 |
- |
- |
|
Other liabilities |
8,351,749 |
5,565,380 |
4,445,289 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
317,400,543 |
111,226,651 |
53,631,321 |
4,028,245 |
4,744,009 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
154,192,796 |
205,247,553 |
100,274,726 |
5,838,234 |
4,699,936 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
164,119,605 |
212,090,484 |
107,153,678 |
6,320,241 |
5,314,520 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
86,853,784 |
86,853,784 |
86,853,784 |
112,614,306 |
112,614,306 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
86,853,784 |
86,853,784 |
86,853,784 |
112,614,306 |
112,614,306 |
|
Retained profit/(loss) carried forward |
77,265,821 |
125,167,037 |
19,613,581 |
(106,340,010) |
(107,341,239) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
77,265,821 |
125,167,037 |
19,613,581 |
(106,340,010) |
(107,341,239) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
164,119,605 |
212,020,821 |
106,467,365 |
6,274,296 |
5,273,067 |
|
Deferred taxation |
- |
69,663 |
686,313 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
69,663 |
686,313 |
45,945 |
41,453 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
164,119,605 |
212,090,484 |
107,153,678 |
6,320,241 |
5,314,520 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
LIFE
TECHNOLOGIES HOLDINGS PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
13,594,928 |
3,911,997 |
6,600,951 |
- |
- |
|
Net Liquid Funds |
13,594,928 |
3,911,997 |
6,600,951 |
- |
- |
|
Net Liquid Assets |
97,638,035 |
154,316,804 |
65,270,720 |
5,838,234 |
4,699,936 |
|
Net Current Assets/(Liabilities) |
154,192,796 |
205,247,553 |
100,274,726 |
5,838,234 |
4,699,936 |
|
Net Tangible Assets |
164,119,605 |
212,090,484 |
107,153,678 |
6,320,241 |
5,314,520 |
|
Net Monetary Assets |
97,638,035 |
154,247,141 |
64,584,407 |
5,792,289 |
4,658,483 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
140,121,855 |
111,684,491 |
32,538,440 |
- |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
142,532,983 |
114,272,919 |
33,359,560 |
- |
- |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
- |
- |
|
Total Liabilities |
317,400,543 |
111,296,314 |
54,317,634 |
4,074,190 |
4,785,462 |
|
Total Assets |
481,520,148 |
323,317,135 |
160,784,999 |
10,348,486 |
10,058,529 |
|
Net Assets |
164,119,605 |
212,090,484 |
107,153,678 |
6,320,241 |
5,314,520 |
|
Net Assets Backing |
164,119,605 |
212,020,821 |
106,467,365 |
6,274,296 |
5,273,067 |
|
Shareholders' Funds |
164,119,605 |
212,020,821 |
106,467,365 |
6,274,296 |
5,273,067 |
|
Total Share Capital |
86,853,784 |
86,853,784 |
86,853,784 |
112,614,306 |
112,614,306 |
|
Total Reserves |
77,265,821 |
125,167,037 |
19,613,581 |
(106,340,010) |
(107,341,239) |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.04 |
0.04 |
0.12 |
- |
- |
|
Liquid Ratio |
1.31 |
2.39 |
2.22 |
- |
- |
|
Current Ratio |
1.49 |
2.85 |
2.87 |
2.45 |
1.99 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
39 |
38 |
89 |
- |
- |
|
Debtors Ratio |
16 |
65 |
120 |
- |
- |
|
Creditors Ratio |
10 |
8 |
191 |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
- |
- |
|
Liabilities Ratio |
1.93 |
0.52 |
0.51 |
0.65 |
0.91 |
|
Times Interest Earned Ratio |
259.05 |
122.07 |
89.72 |
- |
- |
|
Assets Backing Ratio |
1.89 |
2.44 |
1.23 |
0.06 |
0.05 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
26.28 |
22.41 |
22.48 |
4.57 |
5.38 |
|
Net Profit Margin |
25.67 |
21.36 |
21.01 |
4.05 |
4.29 |
|
Return On Net Assets |
85.38 |
52.66 |
30.37 |
17.84 |
17.46 |
|
Return On Capital Employed |
85.38 |
52.66 |
30.37 |
17.84 |
17.46 |
|
Return On Shareholders' Funds/Equity |
83.10 |
49.78 |
28.26 |
15.96 |
14.03 |
|
Dividend Pay Out Ratio (Times) |
1.14 |
0.00 |
0.50 |
- |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.91 |
|
|
1 |
Rs. 100.40 |
|
Euro |
1 |
Rs. 70.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.