|
|
|
MIRA INFORM REPORT
|
Report No. : |
490786 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CLARKSONS PLATOU
ASIA PTE. LIMITED |
|
|
|
|
Formerly Known As : |
CLARKSON ASIA PTE LTD (18/05/2015)
|
|
|
|
|
Registered Office : |
50 Raffles Place, 32 - 01 Singapore Land
Tower, 048623 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
12.10.1981 |
|
|
|
|
Com. Reg. No.: |
198104813H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the ship brokering services,
physical broker. |
|
|
|
|
No. of Employees : |
280 [2018] |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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. |
: |
198104813H |
|
COMPANY NAME |
: |
CLARKSONS PLATOU ASIA PTE. LIMITED |
|
FORMER NAME |
: |
CLARKSON ASIA PTE LTD (18/05/2015) |
|
INCORPORATION DATE |
: |
12/10/1981 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
50 RAFFLES PLACE, 32 - 01 SINGAPORE LAND
TOWER, 048623, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
12, MARINA VIEW #29-01, ASIA SQUARE TOWER 2,
018961, SINGAPORE. |
|
TEL.NO. |
: |
65-63390036 |
|
FAX.NO. |
: |
65-63240148 |
|
WEB SITE |
: |
WWW.CLARKSONS.COM |
|
CONTACT PERSON |
: |
ALASDAIR GILES RICKWOOD LANE ( MANAGING
DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
SHIP BROKERING SERVICES, PHYSICAL BROKER |
|
ISSUED AND PAID UP CAPITAL |
: |
4,000,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 4,000,000.00 |
|
SALES |
: |
USD 30,578,000 [2016] |
|
NET WORTH |
: |
USD 12,182,000 [2016] |
|
STAFF STRENGTH |
: |
280 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
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) ship brokering services, physical broker.
The immediate holding company of the Subject
is CLARKSON OVERSEAS SHIPBROKING LIMITED (FORMERLY KNOWN AS CLARKSON OVERSEAS
HOLDINGS LIMITED), a company incorporated in UNITED KINGDOM.
The ultimate holding company of the Subject
is CLARKSON PLC, a company incorporated in UNITED KINGDOM.
Former Address(es)
|
Address |
As At Date |
|
8 SHENTON WAY #23-01 AXA TOWER, 068811 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
07/02/2018 |
SGD 4,000,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CLARKSON OVERSEAS SHIPBROKING LIMITED
(FORMERLY KNOWN AS CLARKSON OVERSEAS HOLDINGS LIMITED) |
COMMODITY QUAY, ST KATHARINE DOCKS LONDON,
E1W 1BF UNITED KINGDOM |
S81UF0389 |
4,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
4,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MORTEN ARNE HAUGAN |
|
Address |
: |
8 NASSIM HILL, 01 - 07, 258484, SINGAPORE. |
|
IC / PP No |
: |
S7065731G |
|
Nationality |
: |
NORWEGIAN |
|
Date of Appointment |
: |
16/05/2016 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
16/05/2016 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MARK JOHN WOOD |
|
Address |
: |
13, NATHAN ROAD, 03-01, REGENCY PARK,
248737, SINGAPORE. |
|
IC / PP No |
: |
G6318075R |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
01/10/2011 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/10/2011 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
DAVID CHARLES CURRIE |
|
Address |
: |
1C RIDLEY PARK 01 - 02, TANGLIN PARK,
248469, SINGAPORE. |
|
Other Address(es) |
: |
34A, MARGOLIOUTH ROAD, 258561, SINGAPORE. |
|
IC / PP No |
: |
G6296892W |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/04/2012 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/04/2012 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
SIMON PAUL KAY |
|
Address |
: |
23 KEPPEL BAY VIEW 23 - 71, REFLECTIONS AT
KEPPEL BAY, 098414, SINGAPORE. |
|
IC / PP No |
: |
G3077730T |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/10/2014 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/10/2014 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
CHRISTOPHER GRANT SMITH |
|
Address |
: |
119 TAPU ROAD, HUAPAI, KUMEU 0810, 138638,
NEW ZEALAND. |
|
Other Address(es) |
: |
33, ROCHESTER DRIVE, 22-09, ROCHESTER, THE,
138638, SINGAPORE. |
|
IC / PP No |
: |
G5847658M |
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
12/09/2012 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
12/09/2012 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
JONATHAN PAUL MAHER |
|
Address |
: |
2 CORNWALL GARDENS 05 - 08 , THE CORNWALL,
269632, SINGAPORE. |
|
IC / PP No |
: |
G5997356N |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/10/2014 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/10/2014 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
ALASDAIR GILES RICKWOOD LANE |
|
Address |
: |
6, DEAL ROAD, 139840, SINGAPORE. |
|
IC / PP No |
: |
F2383092L |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
27/09/1995 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
27/09/1995 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 8
|
Name Of Subject |
: |
BI XIAOGAN |
|
Address |
: |
40, LENGKONG EMPAT, 417627, SINGAPORE. |
|
IC / PP No |
: |
S2702287A |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
28/06/2001 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
28/06/2001 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 9
|
Name Of Subject |
: |
DEBRA JEAN HAMPTON |
|
Address |
: |
1, FORD AVENUE, 03-03, THE FORD @ HOLLAND,
268685, SINGAPORE. |
|
IC / PP No |
: |
F5669001T |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
10/01/2000 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
10/01/2000 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 10
|
Name Of Subject |
: |
JEFFREY DAVID WOYDA |
|
Address |
: |
PARTINGDALE MANOR PARTINGDALE LANE MILL HILL
LONDON NW7 1NS, UNITED KINGDOM. |
|
IC / PP No |
: |
513127444 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
09/01/2007 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
09/01/2007 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 11
|
Name Of Subject |
: |
WILLIAM RODERICK HERMON |
|
Address |
: |
1 PRESTON ROAD, 109339, SINGAPORE. |
|
IC / PP No |
: |
S7967507E |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/01/2017 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/01/2017 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 12
|
Name Of Subject |
: |
ROBERT ALEXANDER HEWITSON |
|
Address |
: |
12 ADAM DRIVE, 289972, SINGAPORE. |
|
IC / PP No |
: |
G6249133M |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/07/2015 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/07/2015 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 13
|
Name Of Subject |
: |
RICHARD JAMES SMITH |
|
Address |
: |
48 GARLICK AVENUE, 279666, SINGAPORE. |
|
IC / PP No |
: |
G5695012K |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/09/2015 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
01/09/2015 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
DIRECTOR 14
|
Name Of Subject |
: |
WONG PEISHUN @ HUANG PEISHUN |
|
Address |
: |
72 TANAH MERAH KECHIL AVENUE 11 - 43 , CASA
MERAH, 465535, SINGAPORE. |
|
IC / PP No |
: |
S8136835Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/05/2016 |
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 |
198104813H |
CLARKSONS PLATOU ASIA PTE. LIMITED |
Director |
16/05/2016 |
0.00 |
- |
USD3,869,000.00 |
2016 |
- |
07/02/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ALASDAIR GILES RICKWOOD LANE |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
KAVITHA D/O ANNADORAI |
|
IC / PP No |
: |
S8307919C |
|
|
Address |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND
TOWER, 048623, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
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 is service
provider not deal with any trade 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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
SHIP BROKERING SERVICES, PHYSICAL BROKER |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2015 |
2013 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
280 |
120 |
80 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) ship brokering
services, physical broker.
Clarksons Platou office in Singapore reflects the burgeoning shipping business
within the region, servicing the bulk charter markets in dry, tankers (both
deep sea and specialised products), containers and gas through the spectrum of
sizes.
It is the world's leading provider of integrated shipping services, bringing
connections and experience to an international client base.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63390036 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
12, MARINA VIEW #29-01, ASIA SQUARE TOWER
2, 018961 SINGAPORE |
|
Current Address |
: |
12, MARINA VIEW #29-01, ASIA SQUARE TOWER
2, 018961, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
31.76% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
34.44% |
] |
|
|
The fluctuating turnover reflects the fierce
competition among the existing and new market players.The Subject's profit
fell sharply because of the high operating costs incurred. Generally the
Subject was profitable. The favourable return on shareholders' funds and
return on net assets indicate that the Subject's management was efficient in
utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
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 |
[ |
2.32 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.32 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 : |
||||||
|
The Subject recorded lower profits as its turnover
showed a erratic trend. The Subject's management was unable to control its
costs efficiently as its profit showed a downward trend. The Subject was in
good liquidity position with its total current liabilities well covered by
its total current assets. With its current net assets, the Subject should be
able to repay its short term obligations. 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 : |
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 |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
CLARKSONS PLATOU ASIA PTE. LIMITED |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
30,578,000 |
35,459,000 |
|
Other Income |
922,000 |
624,000 |
|
---------------- |
---------------- |
|
|
Total Turnover |
31,500,000 |
36,083,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
4,196,000 |
6,919,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
4,196,000 |
6,919,000 |
|
Taxation |
(327,000) |
(1,169,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,869,000 |
5,750,000 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
14,566,000 |
13,816,000 |
|
---------------- |
---------------- |
|
|
As restated |
14,566,000 |
13,816,000 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
18,435,000 |
19,566,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(9,000,000) |
(5,000,000) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,435,000 |
14,566,000 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
DEPRECIATION (as per notes to P&L) |
355,000 |
- |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
355,000 |
- |
|
============= |
||
|
|
|
|
BALANCE SHEET
|
|
CLARKSONS PLATOU ASIA PTE. LIMITED |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
1,452,000 |
1,703,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Deferred assets |
729,000 |
343,000 |
|
Deposits |
675,000 |
668,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,404,000 |
1,011,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,856,000 |
2,714,000 |
|
CURRENT ASSETS |
||
|
Trade debtors |
4,068,000 |
4,530,000 |
|
Other debtors, deposits & prepayments |
1,122,000 |
964,000 |
|
Amount due from related companies |
2,093,000 |
2,848,000 |
|
Cash & bank balances |
12,132,000 |
19,321,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
19,415,000 |
27,663,000 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
22,271,000 |
30,377,000 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
380,000 |
507,000 |
|
Other creditors & accruals |
7,023,000 |
9,131,000 |
|
Amounts owing to related companies |
212,000 |
257,000 |
|
Provision for taxation |
759,000 |
1,377,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
8,374,000 |
11,272,000 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,041,000 |
16,391,000 |
|
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||
|
Others |
1,715,000 |
1,792,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,715,000 |
1,792,000 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
12,182,000 |
17,313,000 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
2,747,000 |
2,747,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,747,000 |
2,747,000 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
9,435,000 |
14,566,000 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,435,000 |
14,566,000 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
12,182,000 |
17,313,000 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
CLARKSONS PLATOU ASIA PTE. LIMITED |
|
TYPES OF FUNDS |
||
|
Cash |
12,132,000 |
19,321,000 |
|
Net Liquid Funds |
12,132,000 |
19,321,000 |
|
Net Liquid Assets |
11,041,000 |
16,391,000 |
|
Net Current Assets/(Liabilities) |
11,041,000 |
16,391,000 |
|
Net Tangible Assets |
12,182,000 |
17,313,000 |
|
Net Monetary Assets |
9,326,000 |
14,599,000 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
4,196,000 |
6,919,000 |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
4,551,000 |
6,919,000 |
|
BALANCE SHEET ITEMS |
||
|
Total Liabilities |
10,089,000 |
13,064,000 |
|
Total Assets |
22,271,000 |
30,377,000 |
|
Net Assets |
12,182,000 |
17,313,000 |
|
Net Assets Backing |
12,182,000 |
17,313,000 |
|
Shareholders' Funds |
12,182,000 |
17,313,000 |
|
Total Share Capital |
2,747,000 |
2,747,000 |
|
Total Reserves |
9,435,000 |
14,566,000 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
(13.77) |
34.86 |
|
Proft/(Loss) Before Tax |
(39.36) |
76.51 |
|
Proft/(Loss) After Tax |
(32.71) |
75.52 |
|
Total Assets |
(26.68) |
36.91 |
|
Total Liabilities |
(22.77) |
109.53 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
1.45 |
1.71 |
|
Liquid Ratio |
2.32 |
2.45 |
|
Current Ratio |
2.32 |
2.45 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Debtors Ratio |
49 |
47 |
|
Creditors Ratio |
5 |
5 |
|
SOLVENCY RATIOS (Times) |
||
|
Liabilities Ratio |
0.83 |
0.75 |
|
Assets Backing Ratio |
4.43 |
6.30 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
13.72 |
19.51 |
|
Net Profit Margin |
12.65 |
16.22 |
|
Return On Net Assets |
34.44 |
39.96 |
|
Return On Capital Employed |
30.19 |
36.22 |
|
Return On Shareholders' Funds/Equity |
31.76 |
33.21 |
|
Dividend Pay Out Ratio (Times) |
2.33 |
0.87 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
SGD |
1 |
INR 48.37 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.