|
Report No. : |
349531 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUNTSMAN (SINGAPORE) PTE LTD |
|
|
|
|
Registered Office : |
150, Beach Road, 37-00, Gateway West, 189720 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
26.06.2000 |
|
|
|
|
Com. Reg. No.: |
200005669-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture of Chemical Products |
|
|
|
|
No. of Employee : |
1,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
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 |
|
REGISTRATION NO. |
: |
200005669-C |
|
COMPANY NAME |
: |
HUNTSMAN (SINGAPORE) PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
29/06/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
TEL.NO. |
: |
65-63900315 |
|
FAX.NO. |
: |
65-62963368 |
|
WEB SITE |
: |
WWW.HUNTSMAN.COM |
|
CONTACT PERSON |
: |
PANG AI CHEE ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF CHEMICAL PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
12,630,230.00 ORDINARY SHARE, OF A VALUE OF SGD 12,630,230.00 |
|
SALES |
: |
USD 461,916,761 [2014] |
|
NET WORTH |
: |
USD 35,258,215 [2014] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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
chemical products.
The immediate holding company of the Subject is HUNTSMAN INVESTMENTS
(NETHERLANDS) B.V., a company incorporated in NETHERLANDS.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
12/11/2015 |
SGD 12,630,230.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
HUNTSMAN INVESTMENTS (NETHERLANDS) B.V. |
MERSEYWEG 10, 3197, KG BOTLEK, ROTTERDAM, NETHERLANDS. |
S95UF0726G |
12,630,230.00 |
100.00 |
|
--------------- |
------ |
|||
|
12,630,230.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
ALBERT ARTHUR MARIO DECELIS |
|
Address |
: |
3, ANTHONY ROAD, ORCHARD SCOTTS, 229953, SINGAPORE. |
|
IC / PP No |
: |
G5371111T |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
06/09/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
RICHARD JUSTIN JAMES PHILLIPSON |
|
Address |
: |
2, VANDA AVENUE, ORCHID VILLAGE, 287941, SINGAPORE. |
|
IC / PP No |
: |
G6288375N |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
06/09/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
PAUL GRAHAM HULME |
|
Address |
: |
138, GRANGE ROAD, 04-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
|
IC / PP No |
: |
G6262999T |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
18/09/2009 |
DIRECTOR 4
|
Name Of Subject |
: |
PANG AI CHEE |
|
Address |
: |
51, HILLVIEW AVENUE, 04-06, HILLINGTON GREEN, 669565, SINGAPORE. |
|
IC / PP No |
: |
S1346928H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
29/04/2002 |
|
1) |
Name of Subject |
: |
PANG AI CHEE |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
MR. CHAN KOK CHYE |
|
IC / PP No |
: |
S0165806I |
|
|
New IC No |
: |
680319-07-5867 |
|
|
Address |
: |
35, GOODMAN ROAD, 438998, 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
1,000 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of
chemical products.
The Subject is a global manufacturer and marketer of differentiated chemicals.
Its Group manufactures products for a variety of global Industries, including
chemicals, plastics, automotive, aviation, textiles, footwear, paints and
coatings, construction, technology, agriculture, health care, detergent,
personal care, furniture, appliances and packaging.
4th November 2014
Huntsman Inaugurates New India Subcontinent Headquarters in Mumbai.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6563900315 |
|
Current Telephone Number |
: |
65-63900315 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST,189720,,. |
|
Current Address |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 16th November 2015, we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees and bankers.
The address provided is incomplete.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.23% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.37% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. The Subject's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
59 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
50 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. 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 |
: |
Unfavourable |
[ |
0.63 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.14 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working capital
deficiency. If the Subject cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
3.48 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the Subject
is able to generate sufficient income to service its interest and repay the
loans. 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. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. 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 : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
HUNTSMAN (SINGAPORE) PTE LTD |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
461,916,761 |
395,908,036 |
340,098,424 |
339,605,269 |
357,345,299 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
461,916,761 |
395,908,036 |
340,098,424 |
339,605,269 |
357,345,299 |
|
Costs of Goods Sold |
(382,529,065) |
(341,562,332) |
(294,085,315) |
(291,237,011) |
(310,447,026) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
79,387,696 |
54,345,704 |
46,013,109 |
48,368,258 |
46,898,273 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,960,643 |
58,947 |
(3,495,281) |
2,665,020 |
17,140,917 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,960,643 |
58,947 |
(3,495,281) |
2,665,020 |
17,140,917 |
|
Taxation |
- |
(140,000) |
688,881 |
(454,383) |
322,676 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,960,643 |
(81,053) |
(2,806,400) |
2,210,637 |
17,463,593 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
6,602,209 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
6,602,209 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
27,349,629 |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
27,349,629 |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
1,598,248 |
1,586,908 |
1,283,947 |
1,236,698 |
1,251,613 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,598,248 |
1,586,908 |
1,283,947 |
1,236,698 |
1,251,613 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,522,258 |
2,372,630 |
2,309,362 |
2,305,031 |
2,251,239 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,522,258 |
2,372,630 |
2,309,362 |
2,305,031 |
2,251,239 |
|
|
============= |
============= |
============= |
============= |
============= |
|
HUNTSMAN (SINGAPORE) PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
38,611,493 |
35,161,115 |
36,848,089 |
38,405,953 |
35,444,073 |
|
Deferred assets |
80,291 |
80,291 |
220,291 |
- |
949,000 |
|
Others |
226,124 |
159,239 |
159,239 |
159,239 |
159,239 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
306,415 |
239,530 |
379,530 |
159,239 |
1,108,239 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
38,917,908 |
35,400,645 |
37,227,619 |
38,565,192 |
36,552,312 |
|
Stocks |
74,358,641 |
69,020,506 |
57,454,922 |
63,429,576 |
60,497,327 |
|
Trade debtors |
62,745,905 |
57,273,351 |
48,058,355 |
42,254,035 |
51,374,138 |
|
Other debtors, deposits & prepayments |
1,343,158 |
1,151,494 |
1,229,757 |
1,344,282 |
1,572,040 |
|
Amount due from related companies |
27,234,464 |
27,560,381 |
22,476,200 |
15,165,572 |
23,511,740 |
|
Cash & bank balances |
307,952 |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
|
Others |
324,557 |
324,557 |
331,286 |
461,667 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
166,314,677 |
156,019,017 |
131,165,014 |
124,402,787 |
138,073,506 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
205,232,585 |
191,419,662 |
168,392,633 |
162,967,979 |
174,625,818 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,319,305 |
3,743,686 |
1,423,568 |
89,585,845 |
104,962,599 |
|
Other creditors & accruals |
18,414,811 |
15,887,035 |
15,481,786 |
10,906,461 |
10,128,783 |
|
Amounts owing to related companies |
124,154,963 |
116,190,480 |
95,580,840 |
4,173,728 |
2,872,298 |
|
Provision for taxation |
- |
- |
- |
- |
574,739 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
145,889,079 |
135,821,201 |
112,486,194 |
104,666,034 |
118,538,419 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
20,425,598 |
20,197,816 |
18,678,820 |
19,736,753 |
19,535,087 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
59,343,506 |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
|
Retained profit/(loss) carried forward |
27,349,629 |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
27,349,629 |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
35,258,215 |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
|
Retirement benefits provision |
58,194 |
32,723 |
59,970 |
30,643 |
22,861 |
|
Others |
24,027,097 |
24,268,166 |
24,467,844 |
24,086,277 |
24,090,150 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
24,085,291 |
24,300,889 |
24,527,814 |
24,116,920 |
24,113,011 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
59,343,506 |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
HUNTSMAN (SINGAPORE) PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
307,952 |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
|
Net Liquid Funds |
307,952 |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
|
Net Liquid Assets |
(53,933,043) |
(48,822,690) |
(38,776,102) |
(43,692,823) |
(40,962,240) |
|
Net Current Assets/(Liabilities) |
20,425,598 |
20,197,816 |
18,678,820 |
19,736,753 |
19,535,087 |
|
Net Tangible Assets |
59,343,506 |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
|
Net Monetary Assets |
(78,018,334) |
(73,123,579) |
(63,303,916) |
(67,809,743) |
(65,075,251) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
5,558,891 |
1,645,855 |
(2,211,334) |
3,901,718 |
18,392,530 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
8,081,149 |
4,018,485 |
98,028 |
6,206,749 |
20,643,769 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
169,974,370 |
160,122,090 |
137,014,008 |
128,782,954 |
142,651,430 |
|
Total Assets |
205,232,585 |
191,419,662 |
168,392,633 |
162,967,979 |
174,625,818 |
|
Net Assets |
59,343,506 |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
|
Net Assets Backing |
35,258,215 |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
|
Shareholders' Funds |
35,258,215 |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
|
Total Share Capital |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
|
Total Reserves |
27,349,629 |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0 |
0.01 |
0.01 |
0.02 |
0.01 |
|
Liquid Ratio |
0.63 |
0.64 |
0.66 |
0.58 |
0.65 |
|
Current Ratio |
1.14 |
1.15 |
1.17 |
1.19 |
1.16 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
59 |
64 |
62 |
68 |
62 |
|
Debtors Ratio |
50 |
53 |
52 |
45 |
52 |
|
Creditors Ratio |
3 |
4 |
2 |
112 |
123 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
4.82 |
5.12 |
4.37 |
3.77 |
4.46 |
|
Times Interest Earned Ratio |
3.48 |
1.04 |
(1.72) |
3.15 |
14.70 |
|
Assets Backing Ratio |
7.50 |
7.03 |
7.07 |
7.37 |
7.09 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.86 |
0.01 |
(1.03) |
0.78 |
4.80 |
|
Net Profit Margin |
0.86 |
(0.02) |
(0.83) |
0.65 |
4.89 |
|
Return On Net Assets |
9.37 |
2.96 |
(3.96) |
6.69 |
32.79 |
|
Return On Capital Employed |
9.37 |
2.96 |
(3.96) |
6.69 |
32.79 |
|
Return On Shareholders' Funds/Equity |
11.23 |
(0.26) |
(8.94) |
6.47 |
54.62 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.