|
|
|
MIRA
INFORM REPORT
|
Report No. : |
502863 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARCHROMA SINGAPORE, PTE. LTD |
|
|
|
|
Registered Office : |
77, Robinson Road, 13-00, Robinson 77, 068896, Singapore. |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2016 |
|
|
|
|
Date of Incorporation : |
04.04.2013 |
|
|
|
|
Com. Reg. No.: |
201308973W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the distribution of specialty
chemicals. |
|
|
|
|
No. of Employees : |
60 (2016) |
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. |
: |
201308973W |
||||
|
COMPANY NAME |
: |
ARCHROMA SINGAPORE, PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
04/04/2013 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
77, ROBINSON ROAD, 13-00, ROBINSON 77, 068896, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1 INTERNATIONAL BUSINESS PARK, 06-01 THE SYNERGY, 609917,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68667409 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
WEB SITE |
: |
WWW.ARCHROMA.COM |
||||
|
CONTACT PERSON |
: |
MICHEL PIERRE ZUMSTEIN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
DISTRIBUTION OF SPECIALTY CHEMICALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1.00 ORDINARY SHARE, OF A VALUE OF EUR 1.00 |
||||
|
SALES |
: |
USD 63,294,000 [2016] |
||||
|
NET WORTH |
: |
USD 3,698,000 [2016] |
||||
|
STAFF STRENGTH |
: |
60 (2016) |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) distribution of specialty chemicals.
The immediate holding company of
the Subject is ARCHROMA TEXTILES S.A.R.L., a company incorporated in
LUXEMBOURG.
The ultimate holding company of
the Subject is SK SPICE HOLDING S.A.R.L., a company incorporated in LUXEMBOURG.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
03/01/2018 |
EUR 1.00 & USD 1,893,233.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ARCHROMA TEXTILES S.A.R.L. |
65, BOULEVARD GRANDE, DUCHESSE CHARLOTTE, L-1331 LUXEMBOURG |
T13UF1400 |
1,893,234.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,893,234.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MICHEL PIERRE ZUMSTEIN |
|
Address |
: |
NEUHOFSTRASSE, 11, REINACH, 4153, SWITZERLAND. |
|
IC / PP No |
: |
13FV01615 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
26/11/2013 |
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 |
201308973W |
ARCHROMA SINGAPORE, PTE. LTD. |
Director |
26/11/2013 |
0.00 |
- |
USD1,108,000.00 |
2016 |
- |
03/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
JOHANNES MARINUS MACHIEL LOURENS |
|
Address |
: |
VAN DER HOEVENPLEIN, 231 3072, MK ROTTERDAM, NETHERLANDS. |
|
IC / PP No |
: |
NTH6RL562 |
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
26/11/2013 |
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 |
201308973W |
ARCHROMA SINGAPORE, PTE. LTD. |
Director |
26/11/2013 |
0.00 |
- |
USD1,108,000.00 |
2016 |
- |
03/01/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
ANUP BIMALKUMAR JAIN |
|
Address |
: |
7, ONE-NORTH GATEWAY, 12-21, ONE-NORTH RESIDENCES, 138642,
SINGAPORE. |
|
IC / PP No |
: |
G5164304L |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
24/02/2015 |
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 |
201308973W |
ARCHROMA SINGAPORE, PTE. LTD. |
Director |
24/02/2015 |
0.00 |
- |
USD1,108,000.00 |
2016 |
- |
03/01/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
OLIVER SCHMIDT |
|
Address |
: |
110, DUCHESS AVENUE, 02-22, DUCHESS RESIDENCES, 266313,
SINGAPORE. |
|
IC / PP No |
: |
G5175289P |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
03/10/2016 |
|
Remark |
: |
ALTERNATE DIRECTOR TO ANUP BIMALKUMAR JAIN |
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 |
201308973W |
ARCHROMA SINGAPORE, PTE. LTD. |
Director |
03/10/2016 |
0.00 |
- |
USD1,108,000.00 |
2016 |
- |
03/01/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
MICHEL PIERRE ZUMSTEIN |
|
Position |
: |
DIRECTOR |
AUDITOR |
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
JULIANA LOH JOO HUI |
|
IC / PP No |
: |
S2558149J |
|
|
Address |
: |
5000J, MARINE PARADE ROAD, 18-43, LAGOON VIEW, 449291,
SINGAPORE. |
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
CITIBANK N.A. |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201508474 |
27/07/2015 |
N/A |
BANK OF AMERICA, NATIONAL |
- |
Unsatisfied |
|
C201611888 |
24/11/2016 |
N/A |
BANK OF AMERICA, N.A. |
- |
Unsatisfied |
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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2016 |
2015 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
60 |
60 |
60 |
||||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) distribution of
specialty chemicals.
The Subject begins new era in delivering color and specialty chemicals to
textile, paper, adhesives, coatings and construction industries.
The Subject also engaged in the development and research in the related
chemicals.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68667409 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
1 INTERNATIONAL BUSINESS PARK #06-01 THE SYNERGY, SINGAPORE
609917 |
|
Current Address |
: |
1 INTERNATIONAL BUSINESS PARK, 06-01 THE SYNERGY, 609917,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose the fax number and number of employees.
FINANCIAL ANALYSIS |
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2014 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2014 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
29.96% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
21.38% |
] |
|
|
The continuous fall in turnover could be due to the lower demand
for the Subject's products / services.The Subject's management have been
efficient in controlling its operating costs. The Subject's management had
generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
29 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
27 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.16 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.47 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 |
: |
Acceptable |
[ |
5.75 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.19 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 was highly geared, thus it had a high financial
risk. The Subject was dependent on loans to finance its business needs. In
times of economic downturn and / or high interest rate, the Subject will
become less profitable and competitive than other firms in the same industry,
which are lowly geared. This is because the Subject has to service the
interest and to repay the loan, which will erode part of its profits. The
profits will fluctuate depending on the Subject's turnover and the interest
it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
Due to the efficient control of its operating costs, the Subject
was able to remain profitable despite lower turnover achieved during the
year. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. The
Subject 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's gearing level was high and its going concern will be
in doubt if there is no injection of additional shareholders' funds in times
of economic downturn and / or high interest rates. |
||||||
|
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 |
- |
7.40 |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS |
|
INDUSTRY : |
ECONOMY |
|
The economy expanded by 1.9% in the third quarter of 2015,
marginally slower than the 2.0% growth in the second quarter. On a
quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by
1.9%, a reversal from the 2.6% contraction in the previous quarter. |
|
|
Among the key sectors of the economy, the manufacturing sector
recorded the weakest performance, contracting by 6.2% in the third quarter of
2015, extending the 4.8% decline in the previous quarter. The contraction was
primarily due to a decline in the output of the transport engineering,
electronics and precision engineering clusters. |
|
|
The services producing industries performed better, with all
sectors registering expansions. The wholesale & retail trade sector
posted the strongest growth of 6.8%, followed by the finance & insurance
(4.8%), information & communications (4.8%), other services (2.2%) and
business services (1.5%) sectors. The accommodation & food services and
transportation & storage sectors also recorded positive growth of 0.9%
and 0.3% respectively. |
|
|
Meanwhile, the construction sector grew by 1.6%, moderating from
the 2.2% growth in the second quarter of 2015. The sectors that contributed
the most to economic growth in the third quarter of 2015 were the wholesale
& retail trade and finance & insurance sectors. Together, they accounted
for about 97% of overall GDP growth. |
|
|
Total demand rose by 4.1% in the third quarter, accelerating
from the 0.6% growth in the previous quarter. The expansion was supported by
both external and domestic demand. External demand rose at a faster pace of
3.2%, compared to the 1.1% growth in the previous quarter. Meanwhile,
domestic demand increased by 6.6%, a rebound from the 0.6% decline in the
second quarter. |
|
|
Domestic demand was driven by consumption expenditure, which
grew by 6.7% in the third quarter of 2015 following the 3.4% growth in the
previous quarter. Both private and public consumption contributed to the rise
in consumption expenditure. Changes in inventories also supported growth,
rising by 1.6%, a reversal from the 2.9% contraction in the previous quarter.
Growth in gross fixed capital formation moderated to 0.2%, from 4.1% in the
previous quarter, weighed down by both public and private investments. Public
investments contracted by 1.1%, a sharp reversal from the 11% growth in the
previous quarter. On the other hand, private investments registered modest
growth of 0.5%, slower than the 2.4% growth in the previous quarter. |
|
|
Overall employment rose by 16,400 on a quarter-on-quarter basis
in the third quarter of 2015, faster than the gains of 9,700 in the previous
quarter. However, this represented a slower rate of increase as compared to
the employment gains of 33,400 in the third quarter of 2014. The increase in
employment in the third quarter brought the total number of employed persons
in September 2015 to 3,644,000, 1.7% higher than a year ago. The rate of
increase over 2014 was slower compared to that recorded in June 2015 (2.2%).
At the sectoral level, employment in the services and construction sectors
expanded on a quarter-on-quarter basis in the third quarter of 2015, while
manufacturing employment continued to decline. |
|
|
Even though global growth is expected to improve, the continued
slowdown in the Chinese economy, the services-driven nature of growth in the
US, as well as the trends of in-sourcing in China and the US may mean that
external demand for Singapore and regional countries may not see a
significant uplift in 2016. Domestically, the labour market is also expected
to be tight, with the unemployment rate remaining low. |
|
|
Against this backdrop, the growth outlook for the Singapore
economy in 2016 is modest. While sectors such as finance & insurance and
wholesale trade are expected to support growth, the manufacturing sector is
likely to remain weak. Sector-specific factors may also weigh on the growth
of some sectors. For instance, sustained low oil prices will continue to
dampen rig building activities in the marine & offshore segment. Growth
in labour-intensive sectors such as retail and food services may also be
weighed down by labour constraints. By barring the materialisation of
downside risks, the Singapore economy is expected to grow at a modest pace of
"1.0% to 3.0%" in 2016. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
ARCHROMA SINGAPORE, PTE. LTD. |
|
Financial Year End |
2016-09-30 |
2015-09-30 |
2014-09-30 |
|
Months |
12 |
12 |
17 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
63,294,000 |
64,377,000 |
72,467,000 |
|
Other Income |
- |
25,000 |
1,730,000 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
63,294,000 |
64,402,000 |
74,197,000 |
|
Costs of Goods Sold |
(48,469,000) |
(51,610,000) |
(58,710,000) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
14,825,000 |
12,792,000 |
15,487,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,452,000 |
1,233,000 |
7,185,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,452,000 |
1,233,000 |
7,185,000 |
|
Taxation |
(344,000) |
(480,000) |
(975,000) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,108,000 |
753,000 |
6,210,000 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
700,000 |
6,210,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
700,000 |
6,210,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,808,000 |
6,963,000 |
6,210,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(6,263,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,808,000 |
700,000 |
6,210,000 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
306,000 |
435,000 |
435,000 |
|
---------------- |
---------------- |
---------------- |
|
|
306,000 |
435,000 |
435,000 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
300,000 |
323,000 |
341,000 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
300,000 |
323,000 |
341,000 |
|
============= |
============= |
============= |
BALANCE SHEET
|
ARCHROMA SINGAPORE, PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
716,000 |
2,464,000 |
2,695,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
716,000 |
2,464,000 |
2,695,000 |
|
Stocks |
4,982,000 |
5,292,000 |
9,867,000 |
|
Trade debtors |
7,388,000 |
6,444,000 |
6,118,000 |
|
Other debtors, deposits & prepayments |
264,000 |
504,000 |
688,000 |
|
Amount due from related companies |
10,010,000 |
9,537,000 |
9,394,000 |
|
Cash & bank balances |
908,000 |
2,850,000 |
1,523,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
23,552,000 |
24,627,000 |
27,590,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
24,268,000 |
27,091,000 |
30,285,000 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
3,522,000 |
3,124,000 |
4,857,000 |
|
Other creditors & accruals |
3,700,000 |
3,666,000 |
4,271,000 |
|
Amounts owing to holding company |
- |
4,416,000 |
4,416,000 |
|
Amounts owing to related companies |
8,238,000 |
12,743,000 |
7,833,000 |
|
Provision for taxation |
587,000 |
523,000 |
975,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
16,047,000 |
24,472,000 |
22,352,000 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
7,505,000 |
155,000 |
5,238,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
8,221,000 |
2,619,000 |
7,933,000 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
1,890,000 |
1,890,000 |
1,890,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,890,000 |
1,890,000 |
1,890,000 |
|
Exchange equalisation/fluctuation reserve |
- |
- |
(167,000) |
|
Retained profit/(loss) carried forward |
1,808,000 |
700,000 |
6,210,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,808,000 |
700,000 |
6,043,000 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,698,000 |
2,590,000 |
7,933,000 |
|
Other long term borrowings |
4,416,000 |
- |
- |
|
Retirement benefits provision |
107,000 |
29,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
4,523,000 |
29,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
8,221,000 |
2,619,000 |
7,933,000 |
|
|
============= |
============= |
============= |
|
FINANCIAL RATIO
|
ARCHROMA SINGAPORE, PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
908,000 |
2,850,000 |
1,523,000 |
|
Net Liquid Funds |
908,000 |
2,850,000 |
1,523,000 |
|
Net Liquid Assets |
2,523,000 |
(5,137,000) |
(4,629,000) |
|
Net Current Assets/(Liabilities) |
7,505,000 |
155,000 |
5,238,000 |
|
Net Tangible Assets |
8,221,000 |
2,619,000 |
7,933,000 |
|
Net Monetary Assets |
(2,000,000) |
(5,166,000) |
(4,629,000) |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
0 |
1,668,000 |
7,620,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
2,058,000 |
1,991,000 |
7,961,000 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
4,416,000 |
0 |
0 |
|
Total Liabilities |
20,570,000 |
24,501,000 |
22,352,000 |
|
Total Assets |
24,268,000 |
27,091,000 |
30,285,000 |
|
Net Assets |
8,221,000 |
2,619,000 |
7,933,000 |
|
Net Assets Backing |
3,698,000 |
2,590,000 |
7,933,000 |
|
Shareholders' Funds |
3,698,000 |
2,590,000 |
7,933,000 |
|
Total Share Capital |
1,890,000 |
1,890,000 |
1,890,000 |
|
Total Reserves |
1,808,000 |
700,000 |
6,043,000 |
|
GROWTH RATIOS (Year on Year) |
|||
|
Revenue |
(1.68) |
(11.16) |
- |
|
Proft/(Loss) Before Tax |
17.76 |
(82.84) |
- |
|
Proft/(Loss) After Tax |
47.14 |
(87.87) |
- |
|
Total Assets |
(10.42) |
(10.55) |
- |
|
Total Liabilities |
(16.04) |
9.61 |
- |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.06 |
0.12 |
0.07 |
|
Liquid Ratio |
1.16 |
0.79 |
0.79 |
|
Current Ratio |
1.47 |
1.01 |
1.23 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
29 |
30 |
50 |
|
Debtors Ratio |
43 |
37 |
31 |
|
Creditors Ratio |
27 |
22 |
30 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
1.19 |
0 |
0 |
|
Liabilities Ratio |
5.56 |
9.46 |
2.82 |
|
Times Interest Earned Ratio |
5.75 |
3.83 |
17.52 |
|
Assets Backing Ratio |
4.35 |
1.39 |
4.20 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
2.29 |
1.92 |
9.91 |
|
Net Profit Margin |
1.75 |
1.17 |
8.57 |
|
Return On Net Assets |
21.38 |
63.69 |
96.05 |
|
Return On Capital Employed |
21.38 |
63.69 |
96.05 |
|
Return On Shareholders' Funds/Equity |
29.96 |
29.07 |
78.28 |
|
Dividend Pay Out Ratio (Times) |
0 |
8.32 |
0 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
|
SGD |
1 |
INR 49.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.