|
|
|
MIRA
INFORM REPORT
|
Report No. : |
489128 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
AB SCIEX PTE. LTD. |
|
|
|
|
Formerly Known As : |
|
|
|
|
|
Registered Office : |
33, Marsiling Ind Estate Road
3, 04-06, 739256 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
03.08.2009 |
|
|
|
|
Com. Reg. No.: |
200914174C |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the
manufacturing of scientific equipment and other biological products. |
|
|
|
|
No. of Employees : |
450 |
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 : |
Good |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 2014-17 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. |
: |
200914174C |
||||
|
COMPANY NAME |
: |
AB SCIEX PTE. LTD. |
||||
|
FORMER NAME |
: |
DH MANUFACTURING & DISTRIBUTION PTE. LTD. (12/10/2009) |
||||
|
INCORPORATION DATE |
: |
03/08/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
33, MARSILING IND ESTATE ROAD 3, 04-06, 739256, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
BLK 33, #04-06, MARSILING INDUSTRIAL ESTATE ROAD 3, 739256,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65861110/65594338 |
||||
|
FAX.NO. |
: |
65-63623605 |
||||
|
CONTACT PERSON |
: |
GORDON WILLIAM LOGAN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF SCIENTIFIC EQUIPMENT AND OTHER BIOLOGICAL
PRODUCTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
266,276,933.00 ORDINARY SHARE, OF A VALUE OF USD 266,276,932.71 |
||||
|
SALES |
: |
USD 417,694,311 [2016] |
||||
|
NET WORTH |
: |
USD 789,891,023 [2016] |
||||
|
STAFF STRENGTH |
: |
450 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
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) manufacturing
of scientific equipment and other biological products.
The immediate holding company of the Subject is DHCDAN HOLDING
APS, a company incorporated in DENMARK.
The ultimate holding company of the Subject is DANAHER
CORPORATION, a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
05/02/2018 |
USD 266,276,932.71 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DHCDAN HOLDING APS |
AKANDEVEJ 21, DK-2700, BRONSHOJ DENMARK |
T11UF5098 |
266,276,933.00 |
100.00 |
|
--------------- |
------ |
|||
|
266,276,933.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
53156237M |
SINGAPORE |
AB SCIEX (DISTRIBUTION) |
- |
100.00 |
05/02/2018 |
|
53156236X |
SINGAPORE |
AB SCIEX (MANUFACTURING) |
- |
100.00 |
05/02/2018 |
|
VIETNAM |
DH VIETNAM COMPANY LIMITED |
- |
100.00 |
31/12/2016 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MR. GORDON WILLIAM LOGAN |
|
Address |
: |
5, ASPEN LEAF COURT, AURORA, ONTARIO, L4G 7T3, CANADA. |
|
IC / PP No |
: |
761320731 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
07/01/2013 |
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 |
200914174C |
AB SCIEX PTE. LTD. |
Director |
07/01/2013 |
0.00 |
- |
USD60,291,972.00 |
2016 |
- |
05/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
TUEN POH YEAN |
|
Address |
: |
220, LOYANG AVENUE, 03-02, LOYANG VALLEY, 509067, SINGAPORE. |
|
IC / PP No |
: |
S2571866F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
05/02/2016 |
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 |
200914174C |
AB SCIEX PTE. LTD. |
Director |
05/02/2016 |
0.00 |
- |
USD60,291,972.00 |
2016 |
- |
05/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MC FADEN FRANK TALBOT |
|
Address |
: |
2200, PENNSYLVANIA AVE., NW, SUITE 800W, WASHINGTON, DC, 20037,
UNITED STATES. |
|
IC / PP No |
: |
560996481 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
22/04/2014 |
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 |
200914174C |
AB SCIEX PTE. LTD. |
Director |
22/04/2014 |
0.00 |
- |
USD60,291,972.00 |
2016 |
- |
05/02/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
GORDON WILLIAM LOGAN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
SIAU KUEI LIAN |
|
IC / PP No |
: |
S7072715C |
|
|
Address |
: |
224, SIMEI STREET 4, 11-114, 520224, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
AZMAN HISHAM BIN JAAFAR |
|
IC / PP No |
: |
S1699490A |
|
|
Address |
: |
106, JALAN LANGGAR BEDOK, 468558, SINGAPORE. |
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
HONGKONG & SHANGHAI BANKING CORPORATION LTD |
|
2) |
Name |
: |
BANK OF AMERICA N.A |
|
3) |
Name |
: |
CITIBANK SINGAPORE LIMITED |
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 against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD |
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
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 |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
450 |
30 |
30 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
scientific equipment and other biological products.
The Subject helps to improve the world we live in by enabling scientists and
laboratory analysts to push the limits in their field and address the complex
analytical challenges they face.
The Subject use high technology of machine in order to produce high quality of
products.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65861110/65594338 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
AB SCIEX, (DISTRIBUTION) DIVISION BLK 33, #04-06, MARSILING
INDUSTRIAL SINGAPORE |
|
Current Address |
: |
BLK 33, #04-06, MARSILING INDUSTRIAL ESTATE ROAD 3, 739256,
SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete and as per stated in the report.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS |
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.63% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.90% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
Subject's management have been efficient in controlling its operating costs.
The unfavourable return on shareholders' funds could indicate that the Subject
was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
16 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
72 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. The unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.76 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.91 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any
interest during the year. The Subject had no gearing and hence it had
virtually no financial risk. The Subject was financed by its shareholders'
funds and internally generated fund. During the economic downturn, the
Subject, having a zero gearing, will be able to compete better than those
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher
turnover and profit. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK |
|
|
|
Major Economic Indicators : |
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 : |
MANUFACTURING |
|
In the first quarter of 2017,
manufacturing output rose by 8.0%, following the increase of 11% in the
previous quarter. The robust performance of the sector was underpinned by
sustained growth in the electronics, precision engineering and chemicals
clusters. For the whole year of 2016, the manufacturing sector grew by 3.6%,
a reversal from the 5.1% contraction in the previous year. |
|
|
The electronics cluster
increased by 33% in the first quarter, largely driven by the semiconductors
segment, which saw its output surge by 50%. The strong performance of the
semiconductors segment can be attributed to the continued recovery in global
semiconductors demand, driven in turn by healthy demand in key end markets
such as smartphone and automotive applications. At the same time, the other
electronic modules & components and computer peripherals segments grew by
9.0% and 1.2% respectively. For the full year of 2016, the electronics
cluster expanded by 16%. |
|
|
Besides, biomedical
manufacturing cluster contracted by 7.5% in the first quarter of 2017. Within
the cluster, the medical technology segment recorded robust growth of 14%,
supported by higher export demand for medical instruments. However, this was
outweighed by a 14% decline in the output of the pharmaceuticals segment as
the production of active pharmaceutical ingredients fell. For 2016 as a
whole, the biomedical manufacturing cluster expanded by 14%, with both the
pharmaceuticals and medical technology segments supporting growth. |
|
|
In the first quarter of 2017, output of the transport
engineering cluster fell by 11%, dragged down by the marine & offshore
engineering (M&OE) segment. This more than offset expansions in the
aerospace (10%) and land (7.0%) segments. The aerospace segment, in
particular, was supported by an increase in demand for aircraft and engine
maintenance work. For the whole year of 2016, the transport engineering
cluster contracted by 18%. |
|
|
The precision engineering
cluster expanded by 19% in the first quarter of 2017, supported by both the
machinery & systems (M&S) and precision modules & components
(PMC) segments. Output in the M&S segment rose by 24 % on the back of
robust export demand for semiconductor manufacturing equipment. Meanwhile,
the PMC segment grew by 11% due to an increase in the production of dies,
moulds, tools, jigs & fixtures, optical instruments and metal precision
components. In 2016, the precision engineering cluster’s output rose by 0.8%. |
|
|
Moreover, output of the general
manufacturing industries shrank by 6.7% in the first quarter 2017. In
particular, the output of the miscellaneous industries segment fell by 12%
due to a decline in the production of fibre glass products and
construction-related products & materials. The printing segment
contracted by 21%, as demand for commercial printing remained weak and the
food, beverage & tobacco segment expanded by 3.2%, supported by healthy
export demand. For the full year 2016, the general manufacturing industries
contracted by 2.5%. |
|
|
The output of the chemicals
cluster increased by 2.9% in the first quarter of 2017 supported primarily by
growth in the petrochemicals (9.8%) and specialty chemicals (2.9%) segments.
Growth in the petrochemicals segment was partly the result of a low base
effect as production levels a year ago were weak due to plant maintenance
shutdowns. On the other hand, the other chemicals segment contracted to 5.6%
on account of a lower level of production of fragrances. For the full year
2016, the chemicals cluster contracted by 0.9 per cent. This was due to a decline
in the output of the petrochemicals segment arising from major plant
maintenance shutdowns, even as the output of all other segments expanded. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
PROFIT AND LOSS ACCOUNT |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
AB SCIEX 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 |
417,694,311 |
401,650,233 |
396,184,826 |
390,534,651 |
353,839,356 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
417,694,311 |
401,650,233 |
396,184,826 |
390,534,651 |
353,839,356 |
|
Costs of Goods Sold |
(209,343,903) |
(202,304,251) |
(190,198,096) |
(178,877,234) |
(148,985,518) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
208,350,408 |
199,345,982 |
205,986,730 |
211,657,417 |
204,853,838 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
62,365,416 |
57,409,112 |
105,724,048 |
111,792,099 |
68,328,716 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
62,365,416 |
57,409,112 |
105,724,048 |
111,792,099 |
68,328,716 |
|
Taxation |
(2,073,444) |
(566,312) |
(571,473) |
(367,662) |
(99,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
60,291,972 |
56,842,800 |
105,152,575 |
111,424,437 |
68,229,716 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
121,672,591 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
121,672,591 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
523,614,091 |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
523,614,091 |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
- |
- |
443,070 |
702,625 |
509,512 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
443,070 |
702,625 |
509,512 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,581,280 |
1,215,019 |
2,940,796 |
2,367,406 |
2,865,105 |
|
AMORTIZATION |
5,445,962 |
5,445,962 |
5,445,962 |
5,445,961 |
5,445,962 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
8,027,242 |
6,660,981 |
8,386,758 |
7,813,367 |
8,311,067 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
|
|
AB SCIEX PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,922,291 |
3,787,009 |
5,114,941 |
6,424,762 |
5,496,402 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
70,000 |
70,000 |
70,000 |
70,000 |
70,000 |
|
Investments |
384,875,316 |
358,593,721 |
374,796,856 |
160,000,000 |
160,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
384,945,316 |
358,663,721 |
374,866,856 |
160,070,000 |
160,070,000 |
|
INTANGIBLE ASSETS |
|||||
|
Own goodwill |
32,301,164 |
32,301,164 |
32,301,164 |
32,301,164 |
32,301,164 |
|
Trademarks |
142,654,300 |
142,654,300 |
142,654,300 |
142,654,300 |
142,654,300 |
|
Others |
38,121,735 |
43,567,697 |
49,013,659 |
54,459,621 |
59,905,582 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
213,077,199 |
218,523,161 |
223,969,123 |
229,415,085 |
234,861,046 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
601,944,806 |
580,973,891 |
603,950,920 |
395,909,847 |
400,427,448 |
|
CURRENT ASSETS |
|||||
|
Stocks |
30,854,081 |
29,077,620 |
32,950,632 |
25,849,480 |
24,352,863 |
|
Contract work-in-progress |
5,628,277 |
3,875,006 |
3,943,570 |
2,890,382 |
2,658,592 |
|
Trade debtors |
18,116,861 |
26,442,215 |
27,724,696 |
19,355,632 |
13,181,683 |
|
Other debtors, deposits & prepayments |
8,287,133 |
8,529,598 |
8,867,809 |
28,645,880 |
61,392,179 |
|
Amount due from holding company |
80,882,950 |
44,743,630 |
100,119,286 |
205,040,602 |
98,674,777 |
|
Amount due from related companies |
249,926,081 |
243,378,229 |
52,555,621 |
78,375,300 |
55,209,311 |
|
Cash & bank balances |
230,434 |
445,737 |
1,168,402 |
612,985 |
3,013 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
393,925,817 |
356,492,035 |
227,330,016 |
360,770,261 |
255,472,418 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
995,870,623 |
937,465,926 |
831,280,936 |
756,680,108 |
655,899,866 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
41,237,539 |
41,695,374 |
48,106,979 |
38,372,348 |
19,694,448 |
|
Other creditors & accruals |
21,064,911 |
9,186,427 |
5,131,328 |
6,924,339 |
16,759,665 |
|
Bank overdraft |
1,054,472 |
- |
- |
- |
321,759 |
|
Deposits from customers |
11,160,929 |
926,060 |
46,925 |
1,287,628 |
1,150,512 |
|
Amounts owing to related companies |
129,015,589 |
154,191,166 |
103,561,248 |
141,507,680 |
160,559,491 |
|
Provision for taxation |
1,368,346 |
639,773 |
526,683 |
- |
- |
|
Other liabilities |
1,077,814 |
1,228,075 |
1,151,522 |
984,437 |
1,234,752 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
205,979,600 |
207,866,875 |
158,524,685 |
189,076,432 |
199,720,627 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
187,946,217 |
148,625,160 |
68,805,331 |
171,693,829 |
55,751,791 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
789,891,023 |
729,599,051 |
672,756,251 |
567,603,676 |
456,179,239 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
523,614,091 |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
523,614,091 |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
789,891,023 |
729,599,051 |
672,756,251 |
567,603,676 |
456,179,239 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
|
|
AB SCIEX PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
230,434 |
445,737 |
1,168,402 |
612,985 |
3,013 |
|
Net Liquid Funds |
(824,038) |
445,737 |
1,168,402 |
612,985 |
(318,746) |
|
Net Liquid Assets |
157,092,136 |
119,547,540 |
35,854,699 |
145,844,349 |
31,398,928 |
|
Net Current Assets/(Liabilities) |
187,946,217 |
148,625,160 |
68,805,331 |
171,693,829 |
55,751,791 |
|
Net Tangible Assets |
576,813,824 |
511,075,890 |
448,787,128 |
338,188,591 |
221,318,193 |
|
Net Monetary Assets |
157,092,136 |
119,547,540 |
35,854,699 |
145,844,349 |
31,398,928 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
62,365,416 |
57,409,112 |
106,167,118 |
112,494,724 |
68,838,228 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
70,392,658 |
64,070,093 |
114,553,876 |
120,308,091 |
77,149,295 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
1,054,472 |
0 |
0 |
0 |
321,759 |
|
Total Liabilities |
205,979,600 |
207,866,875 |
158,524,685 |
189,076,432 |
199,720,627 |
|
Total Assets |
995,870,623 |
937,465,926 |
831,280,936 |
756,680,108 |
655,899,866 |
|
Net Assets |
789,891,023 |
729,599,051 |
672,756,251 |
567,603,676 |
456,179,239 |
|
Net Assets Backing |
789,891,023 |
729,599,051 |
672,756,251 |
567,603,676 |
456,179,239 |
|
Shareholders' Funds |
789,891,023 |
729,599,051 |
672,756,251 |
567,603,676 |
456,179,239 |
|
Total Share Capital |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
266,276,932 |
|
Total Reserves |
523,614,091 |
463,322,119 |
406,479,319 |
301,326,744 |
189,902,307 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
3.99 |
1.38 |
1.45 |
10.37 |
- |
|
Proft/(Loss) Before Tax |
8.63 |
(45.70) |
(5.43) |
63.61 |
- |
|
Proft/(Loss) After Tax |
6.07 |
(45.94) |
(5.63) |
63.31 |
- |
|
Total Assets |
6.23 |
12.77 |
9.86 |
15.37 |
- |
|
Total Liabilities |
(0.91) |
31.13 |
(16.16) |
(5.33) |
- |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0 |
0 |
0.01 |
0 |
0 |
|
Liquid Ratio |
1.76 |
1.58 |
1.23 |
1.77 |
1.16 |
|
Current Ratio |
1.91 |
1.72 |
1.43 |
1.91 |
1.28 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
32 |
30 |
34 |
27 |
28 |
|
Debtors Ratio |
16 |
24 |
26 |
18 |
14 |
|
Creditors Ratio |
72 |
75 |
92 |
78 |
48 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.26 |
0.28 |
0.24 |
0.33 |
0.44 |
|
Times Interest Earned Ratio |
0 |
0 |
239.62 |
160.11 |
135.11 |
|
Assets Backing Ratio |
2.17 |
1.92 |
1.69 |
1.27 |
0.83 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
14.93 |
14.29 |
26.69 |
28.63 |
19.31 |
|
Net Profit Margin |
14.43 |
14.15 |
26.54 |
28.53 |
19.28 |
|
Return On Net Assets |
7.90 |
7.87 |
15.78 |
19.82 |
15.09 |
|
Return On Capital Employed |
6.21 |
6.06 |
11.84 |
14.11 |
9.96 |
|
Return On Shareholders' Funds/Equity |
7.63 |
7.79 |
15.63 |
19.63 |
14.96 |
|
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 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
|
SGD |
1 |
INR 48.63 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.