|
|
|
%20PTE%20LTD%20-%20501603%2002-Apr-2018_files/image002.jpg){kind=small}
%20PTE%20LTD%20-%20501603%2002-Apr-2018_files/image004.jpg)
%20PTE%20LTD%20-%20501603%2002-Apr-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
501603 |
|
Report Date : |
02.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARROW ELECTRONICS ASIA (S) PTE. LTD. |
|
|
|
|
Formerly Known As : |
ARROW ELECTRONICS INDONESIA PTE LTD (22.07.2002)
|
|
|
|
|
Registered Office : |
750E, Chai Chee Road, 07-01/02, Viva Business Park, 469005 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
19.08.1995 |
|
|
|
|
Com. Reg. No.: |
199505934-R |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is principally engaged in the business of wholesale of electronic components. |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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. Growth in 2014-16 was slower than during the previous decade, at under 3% annually, 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 growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
REGISTRATION
NO. |
: |
199505934-R |
||||
|
COMPANY
NAME |
: |
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
||||
|
FORMER
NAME |
: |
ARROW
ELECTRONICS INDONESIA PTE LTD (22/07/2002) |
||||
|
INCORPORATION
DATE |
: |
19/08/1995 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
750E,
CHAI CHEE ROAD, 07-01/02, VIVA BUSINESS PARK, 469005, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
750E,
CHAI CHEE ROAD, 07-01/02, VIVA BUSINESS PARK, 469005, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65598388 |
||||
|
FAX.NO. |
: |
65-64438662 |
||||
|
WEB
SITE |
: |
WWW.ARROWASIA.COM |
||||
|
CONTACT
PERSON |
: |
YU
MAN WANG ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF ELECTRONIC COMPONENTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
6,929,994.00
ORDINARY SHARE, OF A VALUE OF SGD 6,929,994.00 |
||||
|
SALES |
: |
USD
1,087,515,971 [2016] |
||||
|
NET
WORTH |
: |
USD
15,565,844 [2016] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
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) wholesale of electronic
components.
The immediate holding company of the Subject
is COMPONENTS AGENT (CAYMAN) LIMITED, a company incorporated in CAYMAN ISLANDS.
The ultimate holding company of the Subject
is ARROW ELECTRONICS INC., a company incorporated in UNITED STATES.
Former
Address(es)
|
Address |
As
At Date |
|
750E,
CHAI CHEE ROAD, 07-01/02, TECHNOPARK @ CHAI CHEE, 469005 |
N/A |
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
09/11/2017 |
SGD
6,929,994.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
COMPONENTS
AGENT (CAYMAN) LIMITED |
P.O.
BOX 2681 GT, GEORGE TOWN, GRAND CAYMAN, BRITISH WEST INDIES CAYMAN ISLANDS |
T03UF0274 |
6,929,994.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,929,994.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
THAILAND |
ARROW
ELECTRONICS (THAILAND) LIMITED |
- |
99.90 |
31/12/2016 |
|
|
UNITED
STATES |
EMEDIA
ASIA LTD |
- |
100.00 |
31/12/2016 |
|
|
200412466D |
SINGAPORE |
RICHARDSON
RFPD SINGAPORE PTE. LTD. |
- |
100.00 |
31/12/2016 |
DIRECTORS
DIRECTOR
1
|
Name
Of Subject |
: |
CHRISTOPHER
DAVID STANSBURY |
|
Address |
: |
811,
S GRANT ST, HINSDALE ILLINOIS 60521, UNITED STATES. |
|
Other
Address(es) |
: |
611
S GRANT ST HINSDALE, IL 60521 |
|
IC
/ PP No |
: |
530933446 |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
03/05/2016 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
374721 |
ARROW
ASIA PAC LIMITED |
Director |
- |
0.00 |
- |
MYR(11,426.00) |
2005 |
- |
15/06/2017 |
|
2 |
203106K |
ARROW
COMPONENTS (M) SDN. BHD. |
Director |
19/07/2016 |
0.00 |
- |
MYR(1,335,312.00) |
2013 |
- |
23/10/2017 |
|
3 |
199505934R |
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
Director |
03/05/2016 |
0.00 |
- |
USD2,330,222.00 |
2016 |
- |
09/11/2017 |
|
4 |
199802411G |
NU
HORIZONS ELECTRONICS ASIA PTE LTD |
Director |
03/05/2016 |
0.00 |
- |
USD(12,330.00) |
2016 |
- |
25/10/2017 |
|
5 |
962898X |
RICHARDSON
RFPD (MALAYSIA) SDN. BHD. |
Director |
09/06/2016 |
0.00 |
- |
MYR1,336,197.00 |
2015 |
- |
23/10/2017 |
|
6 |
200412466D |
RICHARDSON
RFPD SINGAPORE PTE. LTD. |
Director |
03/05/2016 |
0.00 |
- |
USD466,722.00 |
2014 |
- |
26/08/2016 |
DIRECTOR
2
|
Name
Of Subject |
: |
MANALORE
MANICKAVASAGAM NATARAJAN |
|
Address |
: |
53,
TAMPINES AVENUE 1, 04-02, THE TROPICA, 529772, SINGAPORE. |
|
IC
/ PP No |
: |
S2744318D |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
02/05/2012 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
199505934R |
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
Director |
02/05/2012 |
0.00 |
- |
USD2,330,222.00 |
2016 |
- |
09/11/2017 |
|
2 |
199802411G |
NU
HORIZONS ELECTRONICS ASIA PTE LTD |
Director |
30/08/2013 |
0.00 |
- |
USD(12,330.00) |
2016 |
- |
25/10/2017 |
DIRECTOR
3
|
Name
Of Subject |
: |
GREGORY
PAUL TARPINIAN |
|
Address |
: |
33442,
MEADOW MOUNTAIN ROAD, EVERGREEN COLORADO 80439-9714, UNITED STATES. |
|
Other
Address(es) |
: |
33442
MEADOW MOUNTAIN RD, EVERGREEN CO 80439-9714 |
|
IC
/ PP No |
: |
458219194 |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
01/01/2015 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
374721 |
ARROW
ASIA PAC LIMITED |
Director |
- |
0.00 |
- |
MYR(11,426.00) |
2005 |
- |
15/06/2017 |
|
2 |
203106K |
ARROW
COMPONENTS (M) SDN. BHD. |
Director |
01/01/2015 |
0.00 |
- |
MYR(1,335,312.00) |
2013 |
- |
23/10/2017 |
|
3 |
199505934R |
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
Director |
01/01/2015 |
0.00 |
- |
USD2,330,222.00 |
2016 |
- |
09/11/2017 |
|
4 |
962898X |
RICHARDSON
RFPD (MALAYSIA) SDN. BHD. |
Director |
01/01/2015 |
0.00 |
- |
MYR1,336,197.00 |
2015 |
- |
23/10/2017 |
|
5 |
200412466D |
RICHARDSON
RFPD SINGAPORE PTE. LTD. |
Director |
01/01/2015 |
0.00 |
- |
USD466,722.00 |
2014 |
- |
26/08/2016 |
DIRECTOR
4
|
Name
Of Subject |
: |
YU
MAN WANG |
|
Address |
: |
FLAT
B, 12/F, TOWER 6, ONE BEACON HILL, KOWLOON, HONG KONG. |
|
IC
/ PP No |
: |
503394889 |
|
Nationality |
: |
BRITISH |
|
Date
of Appointment |
: |
13/08/2010 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
199505934R |
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
Director |
13/08/2010 |
0.00 |
- |
USD2,330,222.00 |
2016 |
- |
09/11/2017 |
MANAGEMENT
|
1) |
Name
of Subject |
: |
YU
MAN WANG |
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
ERNST
& YOUNG LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
1) |
Company
Secretary |
: |
ANG
AI CHOO |
|
IC
/ PP No |
: |
S2568894E |
|
|
Address |
: |
15,
JALAN KESOMA, 538129, SINGAPORE. |
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LTD |
ENCUMBRANCE (S)
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
* 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 |
: |
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 |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA
PACIFIC |
|||
|
Credit
Term |
: |
30
- 90 DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods
Traded |
: |
ELECTRICAL
AND ELECTRONIC COMPONENTS IN COMPUTERS AND COMPUTER RELATED PRODUCTS |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2016 |
2015 |
2014 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
150 |
150 |
150 |
||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
Products/brands:
* semiconductor
* passive/electromechanical
* connector
Industries served:
* mulitnationals
* original equipment and contract manufacturers involved in field such as
computers and peripherals
* communications
* consumer electronics
* industrial products and automotive
CURRENT INVESTIGATION
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-65598388 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
750E
CHAI CHEE ROAD, #07-01/02 TECHNOPARK@CHAICHEE 469055 |
|
Current
Address |
: |
750E,
CHAI CHEE ROAD, 07-01/02, VIVA BUSINESS PARK, 469005, 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 number of employees.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012
- 2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2012
- 2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
14.97% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
42.09% |
] |
|
|
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
profit fell sharply because of the high operating costs incurred. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
40
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
53
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
45
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 |
: |
Unfavourable |
[ |
0.68
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.03
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 |
: |
Unfavourable |
[ |
2.64
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.11
Times |
] |
|
|
The
Subject's interest cover was low. If its profits fall or when interest rate
rises, it may not be able to meet all its interest payment. The Subject
was lowly geared thus it had a low financial risk. The Subject was mainly
financed by its shareholders' funds and internally generated funds. In times
of economic slowdown / downturn, the Subject being a lowly geared company,
will be able to compete better than those companies which are highly geared
in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the Subject's turnover had increased, its profits had declined over the same
corresponding period. This could be due to the stiffer market competition and
/ or higher operating costs which lowered the Subject's profit margin. 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. If there is a fall in the
Subject's profit or any increase in interest rate, the Subject may not be
able to generate sufficient cash-flow to service its interest. The Subject as
a lowly geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : FAIR |
||||||
|
|
||||||
|
|
||||||
SINGAPORE ECONOMIC/INDUSTRY OUTLOOK
|
Major
Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population
(Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross
Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer
Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total
Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total
Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment
Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist
Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel
Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular
Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration
of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation
of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation
of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration
of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration
of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation
of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation
of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy
Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy
Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy
Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish
Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing
Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather
Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood
& Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper
& Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing
& Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude
Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical
& Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical
Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber
& Plastic Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic
Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic
Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated
Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery
& Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical
Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic
Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport
Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real
Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport,
Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance
& Insurance |
0.50 |
3.30 |
6.00 |
- |
- |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
*
Estimate / Preliminary |
|||||
|
#
Based on Index of Industrial Production (2015 = 100) |
|||||
INDUSTRY ANALYSIS
|
INDUSTRY
: |
TRADING |
|
The wholesale & retail trade sector
expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in
the preceding quarter. Growth was supported by both the wholesale trade and
retail trade segments. The wholesale trade segment was boosted by an increase
in both domestic and foreign wholesale trade sales volume. In particular, the
domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in
the previous quarter. The strong performance in domestic wholesale trade was
due to a surge in the sales of petroleum and petroleum products (14%),
chemicals & chemical products (39%) and telecommunications &
computers (18%). |
|
|
Similarly, the foreign wholesale trade
index rose by 10% in the third quarter of 2015, accelerating from the 6.9%
rise in the previous quarter. Growth was driven by improvements in the sales
of petroleum & petroleum products (21%), metals, timber &
construction materials (10%) and general wholesale trade (8.8%). |
|
|
Overall retail trade sales volume also
recorded resilient growth of 5.6% in the third quarter of 2015, extending the
6.4 % expansion in the second quarter. Growth was supported by a surge in the
volume of motor vehicle sales (44%), which was in turn due to a substantial
increase in the supply of Certificate of Entitlements. Excluding motor
vehicles, retail sales volume increased at a much slower pace of 0.7% over
the same period. The increase in retail sales volume (excluding motor
vehicles) was due to improved non-discretionary goods sales. For instance,
the sales of medical goods & toiletries and department store goods rose
by 8.1% and 3.6% respectively. |
|
|
According to the Retail News Asia, Food and
beverage has overtaken fashion as the primary driver of demand for retail
real estate in Singapore. Despite declining retail sales and consumer
spending, the prime retail sector remained in good shape during the third
quarter 2015. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
PROFIT AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
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 |
1,087,515,971 |
623,249,481 |
586,181,076 |
573,343,215 |
455,613,661 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
1,087,515,971 |
623,249,481 |
586,181,076 |
573,343,215 |
455,613,661 |
|
Costs
of Goods Sold |
- |
- |
(552,172,102) |
(542,735,265) |
(429,511,942) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
- |
- |
34,008,974 |
30,607,950 |
26,101,719 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
4,082,029 |
10,591,275 |
9,962,876 |
7,638,843 |
2,748,007 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
4,082,029 |
10,591,275 |
9,962,876 |
7,638,843 |
2,748,007 |
|
Taxation |
(1,751,807) |
(1,819,148) |
(969,910) |
(1,670,159) |
(12,903) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
2,330,222 |
8,772,127 |
8,992,966 |
5,968,684 |
2,735,104 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
(38,223,736) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
(38,223,736) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(9,424,633) |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(9,424,633) |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
2,488,947 |
1,252,691 |
1,184,751 |
1,455,697 |
1,588,194 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,488,947 |
1,252,691 |
1,184,751 |
1,455,697 |
1,588,194 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
61,501 |
81,731 |
48,970 |
124,785 |
124,796 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
61,501 |
81,731 |
48,970 |
124,785 |
124,796 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
114,406 |
126,725 |
94,942 |
82,928 |
148,564 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
1,000,386 |
1,000,386 |
18,518,212 |
18,518,212 |
18,518,212 |
|
Deferred
assets |
- |
- |
28,074 |
- |
663,827 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
1,000,386 |
1,000,386 |
18,546,286 |
18,518,212 |
19,182,039 |
|
Others |
3,275,000 |
3,275,000 |
3,275,000 |
3,275,000 |
3,275,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
3,275,000 |
3,275,000 |
3,275,000 |
3,275,000 |
3,275,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
4,389,792 |
4,402,111 |
21,916,228 |
21,876,140 |
22,605,603 |
|
Stocks |
119,022,593 |
113,170,169 |
72,079,099 |
51,389,887 |
57,982,076 |
|
Trade
debtors |
159,046,901 |
102,927,051 |
98,787,438 |
89,768,192 |
69,300,005 |
|
Other
debtors, deposits & prepayments |
1,299,473 |
710,624 |
144,049 |
132,947 |
101,364 |
|
Amount
due from holding company |
1,247,119 |
- |
- |
- |
99,350 |
|
Amount
due from related companies |
34,402,456 |
73,723,211 |
60,038,605 |
131,876,931 |
48,088,545 |
|
Cash
& bank balances |
30,949,063 |
1,344,312 |
1,393,493 |
6,373,321 |
590,202 |
|
Others |
- |
- |
45,333 |
26,091 |
21,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
345,967,605 |
291,875,367 |
232,488,017 |
279,567,369 |
176,183,365 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
350,357,397 |
296,277,478 |
254,404,245 |
301,443,509 |
198,788,968 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
134,263,415 |
108,473,114 |
75,825,434 |
67,380,878 |
66,407,934 |
|
Other
creditors & accruals |
6,593,408 |
3,793,951 |
3,649,336 |
3,461,368 |
3,167,931 |
|
Bank
overdraft |
1,636,953 |
- |
- |
- |
- |
|
Amounts
owing to holding company |
- |
1,848,526 |
2,303,393 |
4,302,153 |
- |
|
Amounts
owing to subsidiary companies |
120,308 |
82,973 |
9,325,852 |
5,695,255 |
5,675,035 |
|
Amounts
owing to related companies |
189,726,700 |
188,187,889 |
178,661,626 |
245,072,367 |
155,011,796 |
|
Provision
for taxation |
2,405,990 |
1,639,093 |
1,182,570 |
1,058,205 |
31,888 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
334,746,774 |
304,025,546 |
270,948,211 |
326,970,226 |
230,294,584 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
11,220,831 |
(12,150,179) |
(38,460,194) |
(47,402,857) |
(54,111,219) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
15,610,623 |
(7,748,068) |
(16,543,966) |
(25,526,717) |
(31,505,616) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
|
Retained
profit/(loss) carried forward |
(9,424,633) |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
|
Others |
21,007,461 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
11,582,828 |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
15,565,844 |
(7,771,839) |
(16,543,966) |
(25,536,932) |
(31,505,616) |
|
Deferred
taxation |
44,779 |
23,771 |
- |
10,215 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
44,779 |
23,771 |
- |
10,215 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
15,610,623 |
(7,748,068) |
(16,543,966) |
(25,526,717) |
(31,505,616) |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL RATIO
|
ARROW
ELECTRONICS ASIA (S) PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
30,949,063 |
1,344,312 |
1,393,493 |
6,373,321 |
590,202 |
|
Net
Liquid Funds |
29,312,110 |
1,344,312 |
1,393,493 |
6,373,321 |
590,202 |
|
Net
Liquid Assets |
(107,801,762) |
(125,320,348) |
(110,539,293) |
(98,792,744) |
(112,093,295) |
|
Net
Current Assets/(Liabilities) |
11,220,831 |
(12,150,179) |
(38,460,194) |
(47,402,857) |
(54,111,219) |
|
Net
Tangible Assets |
12,335,623 |
(11,023,068) |
(19,818,966) |
(28,801,717) |
(34,780,616) |
|
Net
Monetary Assets |
(107,846,541) |
(125,344,119) |
(110,539,293) |
(98,802,959) |
(112,093,295) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
0 |
11,147,627 |
9,094,540 |
4,336,201 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
6,632,477 |
11,925,697 |
11,196,597 |
9,219,325 |
4,460,997 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
1,636,953 |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
334,791,553 |
304,049,317 |
270,948,211 |
326,980,441 |
230,294,584 |
|
Total
Assets |
350,357,397 |
296,277,478 |
254,404,245 |
301,443,509 |
198,788,968 |
|
Net
Assets |
15,610,623 |
(7,748,068) |
(16,543,966) |
(25,526,717) |
(31,505,616) |
|
Net
Assets Backing |
15,565,844 |
(7,771,839) |
(16,543,966) |
(25,536,932) |
(31,505,616) |
|
Shareholders'
Funds |
15,565,844 |
(7,771,839) |
(16,543,966) |
(25,536,932) |
(31,505,616) |
|
Total
Share Capital |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
3,983,016 |
|
Total
Reserves |
11,582,828 |
(11,754,855) |
(20,526,982) |
(29,519,948) |
(35,488,632) |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
74.49 |
6.32 |
2.24 |
25.84 |
2.31 |
|
Proft/(Loss)
Before Tax |
(61.46) |
6.31 |
30.42 |
177.98 |
171.55 |
|
Proft/(Loss)
After Tax |
(73.44) |
(2.46) |
50.67 |
118.23 |
183.26 |
|
Total
Assets |
37.72 |
16.46 |
(15.60) |
51.64 |
27.08 |
|
Total
Liabilities |
23.56 |
12.22 |
(17.14) |
41.98 |
20.78 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.09 |
0 |
0.01 |
0.02 |
0 |
|
Liquid
Ratio |
0.68 |
0.59 |
0.59 |
0.70 |
0.51 |
|
Current
Ratio |
1.03 |
0.96 |
0.86 |
0.86 |
0.77 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
40 |
66 |
45 |
33 |
46 |
|
Debtors
Ratio |
53 |
60 |
62 |
57 |
56 |
|
Creditors
Ratio |
45 |
64 |
50 |
45 |
56 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.11 |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
21.51 |
(39.12) |
(16.38) |
(12.80) |
(7.31) |
|
Times
Interest Earned Ratio |
2.64 |
9.45 |
9.41 |
6.25 |
2.73 |
|
Assets
Backing Ratio |
3.10 |
(2.77) |
(4.98) |
(7.23) |
(8.73) |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.38 |
1.70 |
1.70 |
1.33 |
0.60 |
|
Net
Profit Margin |
0.21 |
1.41 |
1.53 |
1.04 |
0.60 |
|
Return
On Net Assets |
42.09 |
(152.86) |
(67.38) |
(35.63) |
(13.76) |
|
Return
On Capital Employed |
32.02 |
(264.78) |
(84.01) |
(40.87) |
(15.36) |
|
Return
On Shareholders' Funds/Equity |
14.97 |
(112.87) |
(54.36) |
(23.37) |
(8.68) |
|
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 |
INR 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
SGD |
1 |
INR 49.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.