MIRA INFORM REPORT

 

 

Report No. :

324721

Report Date :

29.05.2015

 

IDENTIFICATION DETAILS

 

Name :

DU PONT COMPANY (SINGAPORE) PTE. LTD.

 

 

Registered Office :

1, Harbourfront Place, 11-01, Harbourfront, Tower One, 098633

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

19.08.2008

 

 

Com. Reg. No.:

200207203-C

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacture of other biological products and preparations for human use

 

 

No. of Employees :

300 [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 :

Slow but correct

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

 

 

Company name and address

 

 

REGISTRATION NO.

:

200207203-C

COMPANY NAME

:

DU PONT COMPANY (SINGAPORE) PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

19/08/2002

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

1, HARBOURFRONT PLACE, 11-01, HARBOURFRONT, TOWER ONE, 098633, SINGAPORE.

BUSINESS ADDRESS

:

1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT TOWER ONE, 098633, SINGAPORE.

TEL.NO.

:

65-65863688

FAX.NO.

:

N/A

WEB SITE

:

WWW.DUPONT.COM.SG

CONTACT PERSON

:

HSING CHAN HO ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

MANUFACTURE OF OTHER BIOLOGICAL PRODUCTS AND PREPARATIONS FOR HUMAN USE

ISSUED AND PAID UP CAPITAL

:

44,844,029.00 ORDINARY SHARE, OF A VALUE OF SGD 111,177,780.00

SALES

:

USD 1,498,485,000 [2013]

NET WORTH

:

USD 1,351,883,000 [2013]

STAFF STRENGTH

:

300 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

FAIR

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 of other biological products and preparations for human use.

 

The immediate holding company of the Subject is DU PONT CHEMICAL AND ENERGY OPERATIONS, INC, a company incorporated in UNITED STATES.

The ultimate holding company of the Subject is E.I. DU PONT DE NEMOURS AND COMPANY, a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

08/12/2014

SGD 111,177,780.00

 

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

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

DU PONT CHEMICAL AND ENERGY OPERATIONS, INC

D-8045, 1007, MARKET STREET, WILMINGTON, DELAWARE, 19898, UNITED STATES.

T03UF0807

44,844,029.00

100.00

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

------

44,844,029.00

100.00

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

=====

+ Also Director

 

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

 

Local No

Country

Company

(%)

As At

199600005Z

SINGAPORE

DANISCO SINGAPORE PTE. LTD.

100.00

31/12/2013




 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

LIM CHER TONG

Address

:

1, OXLEY RISE, 09-04, ONE OXLEY RISE, 238714, SINGAPORE.

IC / PP No

:

S2550549B

Nationality

:

SINGAPOREAN

Date of Appointment

:

19/08/2002

 

DIRECTOR 2

 

Name Of Subject

:

HSING CHAN HO

Address

:

15, LEWIS ROAD, 258600, SINGAPORE.

IC / PP No

:

S2173034C

Nationality

:

SINGAPOREAN

Date of Appointment

:

20/05/2005

 

DIRECTOR 3

 

Name Of Subject

:

YONG WUI POH

Address

:

512, BUKIT BATOK STREET, 52, 04-522, 650512, SINGAPORE.

IC / PP No

:

S2620868H

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/08/2013

 

 

MANAGEMENT

 

 

 

1)

Name of Subject

:

HSING CHAN HO

Position

:

MANAGING DIRECTOR

 

 

AUDITOR

 

Auditor

:

PRICEWATER HOUSECOOPERS LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHRISTOPHER JR. LIM I-AN

IC / PP No

:

S7107421H

Address

:

57A, DUCHESS AVENUE, 269122, SINGAPORE.

 

2)

Company Secretary

:

CHONG JOON PIN @ ZHANG JUNBIN

IC / PP No

:

S7424963I

Address

:

437, ANG MO KIO AVENUE, 10, 14-1365, 560437, 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 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.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject refused to disclose it's 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

[

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

X

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

N/A

 

 

OPERATIONS

 

Products manufactured

:

CHEMICALS, CHEMICAL PRODUCTS AND RELATED PRODUCTS

 

Total Number of Employees:

 

YEAR

2014

2013

2012

GROUP

N/A

N/A

N/A

COMPANY

300

300

300

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) manufacture of other biological products and preparations for human use.

The Subject manufacture and sale chemical products such as polymers and zytel resin.

Industries served:
* agriculture
* building and construction
* electronics
* energy and utilities
* health care and medical
* manufacturing
* packaging and graphic arts
* plastics
* safety and protection
* transportation

The Subject is a member of the following entities:
* Singapore international chamber of commerce
* Singapore chemical industry council


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-65863688

Match

:

N/A

Address Provided by Client

:

1, HARBOUR FRONT PLACE #11-01 HARBOUR FRONT TOWER ONE, SINGAPORE 098633

Current Address

:

1 HARBOURFRONT PLACE, 11-01 HARBOURFRONT TOWER ONE, 098633, SINGAPORE.

Match

:

YES

 

Other Investigations


we contacted one of the staff from the Subject and she only provided limited information on the Subject.

The Subject refused to disclose it's fax number and bankers.

 

FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Erratic

[

2010 - 2013

]

Profit/(Loss) Before Tax

:

Decreased

[

2010 - 2013

]

Return on Shareholder Funds

:

Unfavourable

[

5.56%

]

Return on Net Assets

:

Unfavourable

[

6.64%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.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

[

43 Days

]

Debtor Ratio

:

Favourable

[

53 Days

]

Creditors Ratio

:

Unfavourable

[

70 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 unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

Liquidity

Liquid Ratio

:

Favourable

[

3.89 Times

]

Current Ratio

:

Favourable

[

4.38 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

[

16.80 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 :

The Subject recorded lower profits as its turnover showed a erratic trend. The Subject's management was unable to control its costs efficiently as its profit showed a downward trend. 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 : FAIR

 

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

 


Incorporated in 2002, the Subject is a Private Limited company, focusing on manufacture of other biological products and preparations for human use. With its long establishment in the market, the Subject has received strong support from its stable customers base. Its business position in the market is quite stable and it is expected to enjoy better market shares over its rivals. The Subject is a large entity with strong capital position of SGD 111,177,780. We are confident with the Subject's business and its future growth prospect. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment.

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. The Subject is a fairly large and rapidly growing company with over 300 staff in its 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.

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. 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 1,351,883,000, the Subject should be able to maintain its business in the near terms.

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

The Subject's overall payment habit is fair and this clearly implied a weak credit control of the Subject.

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.

DU PONT COMPANY (SINGAPORE) PTE. LTD.

 

Financial Year End

2013-12-31

2012-12-31

2011-12-31

2010-12-31

Months

12

12

12

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

1,498,485,000

1,335,162,000

1,427,581,000

1,192,428,000

Other Income

46,762,000

53,329,000

49,063,000

82,283,000

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

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

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

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

Total Turnover

1,545,247,000

1,388,491,000

1,476,644,000

1,274,711,000

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

84,499,000

282,748,000

323,538,000

283,923,000

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

84,499,000

282,748,000

323,538,000

283,923,000

Taxation

(9,386,000)

(6,569,000)

(7,876,000)

(7,967,000)

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

75,113,000

276,179,000

315,662,000

275,956,000

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,200,861,000

924,682,000

609,020,000

353,064,000

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

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

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

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

As restated

1,200,861,000

924,682,000

609,020,000

353,064,000

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

1,275,974,000

1,200,861,000

924,682,000

629,020,000

DIVIDENDS - Ordinary (paid & proposed)

-

-

-

(20,000,000)

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,275,974,000

1,200,861,000

924,682,000

609,020,000

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

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

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

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

INTEREST EXPENSE (as per notes to P&L)

Hire purchase

-

-

-

3,000

Lease interest

-

2,000

7,000

-

Others

5,348,000

6,665,000

4,504,000

10,000

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

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

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

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

5,348,000

6,667,000

4,511,000

13,000

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

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

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

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

 

 

 

BALANCE SHEET

 

 

DU PONT COMPANY (SINGAPORE) PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

72,698,000

52,910,000

39,849,000

31,174,000

LONG TERM INVESTMENTS/OTHER ASSETS

Subsidiary companies

75,606,000

75,556,000

-

-

Deferred assets

-

-

-

1,850,000

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

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

75,606,000

75,556,000

-

1,850,000

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

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

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

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

TOTAL LONG TERM ASSETS

148,304,000

128,466,000

39,849,000

33,024,000

Stocks

175,510,000

245,779,000

165,227,000

106,409,000

Trade debtors

218,354,000

229,686,000

204,145,000

205,738,000

Other debtors, deposits & prepayments

9,952,000

12,503,000

4,884,000

3,051,000

Short term deposits

50,007,000

50,005,000

105,033,000

115,021,000

Amount due from holding company

-

-

-

2,875,000

Amount due from related companies

972,664,000

981,897,000

822,801,000

304,049,000

Cash & bank balances

134,520,000

116,874,000

10,158,000

104,766,000

Others

-

-

21,000

2,104,000

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

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

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

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

TOTAL CURRENT ASSETS

1,561,007,000

1,636,744,000

1,312,269,000

844,013,000

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

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

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

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

TOTAL ASSET

1,709,311,000

1,765,210,000

1,352,118,000

877,037,000

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

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

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

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

CURRENT LIABILITIES

Trade creditors

285,372,000

215,344,000

148,532,000

84,231,000

Other creditors & accruals

24,670,000

50,764,000

17,250,000

27,215,000

Amounts owing to holding company

17,783,000

21,259,000

16,208,000

50,214,000

Amounts owing to related companies

19,973,000

194,615,000

182,081,000

47,502,000

Provision for taxation

8,364,000

5,142,000

3,180,000

-

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

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

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

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

TOTAL CURRENT LIABILITIES

356,162,000

487,124,000

367,251,000

209,162,000

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

1,204,845,000

1,149,620,000

945,018,000

634,851,000

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

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

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

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

TOTAL NET ASSETS

1,353,149,000

1,278,086,000

984,867,000

667,875,000

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

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

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

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

SHARE CAPITAL

Ordinary share capital

75,909,000

75,909,000

58,855,000

58,855,000

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

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

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

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

TOTAL SHARE CAPITAL

75,909,000

75,909,000

58,855,000

58,855,000

Retained profit/(loss) carried forward

1,275,974,000

1,200,861,000

924,682,000

609,020,000

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

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

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

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

TOTAL RESERVES

1,275,974,000

1,200,861,000

924,682,000

609,020,000

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

1,351,883,000

1,276,770,000

983,537,000

667,875,000

Deferred taxation

1,266,000

1,316,000

1,330,000

-

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

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

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

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

TOTAL LONG TERM LIABILITIES

1,266,000

1,316,000

1,330,000

-

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

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

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

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

1,353,149,000

1,278,086,000

984,867,000

667,875,000

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

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

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

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

 

 

 

FINANCIAL RATIO

 

 

DU PONT COMPANY (SINGAPORE) PTE. LTD.

 

TYPES OF FUNDS

Cash

184,527,000

166,879,000

115,191,000

219,787,000

Net Liquid Funds

184,527,000

166,879,000

115,191,000

219,787,000

Net Liquid Assets

1,029,335,000

903,841,000

779,791,000

528,442,000

Net Current Assets/(Liabilities)

1,204,845,000

1,149,620,000

945,018,000

634,851,000

Net Tangible Assets

1,353,149,000

1,278,086,000

984,867,000

667,875,000

Net Monetary Assets

1,028,069,000

902,525,000

778,461,000

528,442,000

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

0

Total Liabilities

357,428,000

488,440,000

368,581,000

209,162,000

Total Assets

1,709,311,000

1,765,210,000

1,352,118,000

877,037,000

Net Assets

1,353,149,000

1,278,086,000

984,867,000

667,875,000

Net Assets Backing

1,351,883,000

1,276,770,000

983,537,000

667,875,000

Shareholders' Funds

1,351,883,000

1,276,770,000

983,537,000

667,875,000

Total Share Capital

75,909,000

75,909,000

58,855,000

58,855,000

Total Reserves

1,275,974,000

1,200,861,000

924,682,000

609,020,000

LIQUIDITY (Times)

Cash Ratio

0.52

0.34

0.31

1.05

Liquid Ratio

3.89

2.86

3.12

3.53

Current Ratio

4.38

3.36

3.57

4.04

WORKING CAPITAL CONTROL (Days)

Stock Ratio

43

67

42

33

Debtors Ratio

53

63

52

63

Creditors Ratio

70

59

38

26

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

0.00

0.00

Liabilities Ratio

0.26

0.38

0.37

0.31

Times Interest Earned Ratio

16.80

43.41

72.72

21,841.23

Assets Backing Ratio

17.83

16.84

16.73

11.35

PERFORMANCE RATIO (%)

Operating Profit Margin

5.64

21.18

22.66

23.81

Net Profit Margin

5.01

20.69

22.11

23.14

Return On Net Assets

6.64

22.64

33.31

42.51

Return On Capital Employed

6.64

22.64

33.31

42.51

Return On Shareholders' Funds/Equity

5.56

21.63

32.09

41.32

Dividend Pay Out Ratio (Times)

0.00

0.00

0.00

0.07

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.98.16

Euro

1

Rs.69.74

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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

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