|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494894 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRA PETROCHEMICALS PTE. LTD. |
|
|
|
|
Registered Office : |
2, Battery Road, 22-01, Maybank Tower, 049907 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
17.03.2009 |
|
|
|
|
Com. Reg. No.: |
200904745D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the wholesale of petrochemical products. |
|
|
|
|
No. of Employees : |
50 |
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 : |
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 (30.09.2017) |
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 2014-17 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. |
: |
200904745D |
||||
|
COMPANY NAME |
: |
INTEGRA PETROCHEMICALS PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
17/03/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
2, BATTERY ROAD, 22-01, MAYBANK TOWER, 049907, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
2, BATTERY ROAD, 22-01, MAYBANK TOWER, 049907, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62209895 |
||||
|
FAX.NO. |
: |
65-62202908 |
||||
|
WEB SITE |
: |
WWW.INTEGRA-GLOBAL.COM |
||||
|
CONTACT PERSON |
: |
GEORGINA CAMPBELL FYFFE ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF PETROCHEMICAL PRODUCTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
||||
|
SALES |
: |
USD 683,671,604 [2016] |
||||
|
NET WORTH |
: |
USD 10,859,298 [2016] |
||||
|
STAFF STRENGTH |
: |
50 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY/ BACKGROUND |
The Subject is a private limited
company and is allowed to have a minimum of one and a maximum of forty-nine
shareholders. As a private limited company, the Subject must have at least two
directors. A private limited company is a separate legal entity from its
shareholders. As a separate legal entity, the Subject is capable of owning
assets, entering into contracts, sue or be sued by other companies. The
liabilities of the shareholders are to the extent of the equity they have taken
up and the creditors cannot claim on shareholders' personal assets even if the
Subject is insolvent. The Subject is governed by the Companies Act and the
company must file its annual returns, together with its financial statements
with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) wholesale
of petrochemical products.
The immediate holding company of the Subject is GRANTIE CAPITAL
SA, a company incorporated in SWITZERLAND.
The ultimate holding company of the Subject is INTEGRA HOLDINGS
PRIVATE LIMITED, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
19/01/2018 |
SGD 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GRANTIE CAPITAL SA |
RUE ST PIERRE, 18, CH-1700, FRIBOURG SWITZERLAND |
T09UF0945 |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
201201459G |
SINGAPORE |
CHEMBULK INTERNATIONAL PTE. LTD. |
- |
100.00 |
19/01/2018 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
ROGER FRANCIS VAN BAAL |
|
Address |
: |
65, SIXTH AVENUE, 276497, SINGAPORE. |
|
IC / PP No |
: |
G5878754Q |
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
04/05/2009 |
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 |
197502125W |
BTS TANKERS PTE. LTD. |
Director |
02/09/2013 |
0.00 |
- |
USD9,876,000.00 |
2015 |
- |
19/10/2016 |
|
2 |
200306319C |
INTEGRA HOLDINGS PRIVATE LIMITED |
Shareholder Director |
07/12/2012 01/08/2003 |
500,001.00 |
50.00 |
USD(10,524,980.00) |
2013 |
- |
08/07/2016 |
|
3 |
200904745D |
INTEGRA PETROCHEMICALS PTE. LTD. |
Director |
04/05/2009 |
0.00 |
- |
USD3,713,613.00 |
2016 |
- |
19/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. GEORGINA CAMPBELL FYFFE |
|
Address |
: |
65, SIXTH AVENUE, 276497, SINGAPORE. |
|
IC / PP No |
: |
G5860125Q |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
17/03/2009 |
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 |
197502125W |
BTS TANKERS PTE. LTD. |
Director |
02/09/2013 |
0.00 |
- |
USD9,876,000.00 |
2015 |
- |
19/10/2016 |
|
2 |
200306319C |
INTEGRA HOLDINGS PRIVATE LIMITED |
Shareholder Director |
07/12/2012 01/08/2003 |
500,001.00 |
50.00 |
USD(10,524,980.00) |
2013 |
- |
08/07/2016 |
|
3 |
200904745D |
INTEGRA PETROCHEMICALS PTE. LTD. |
Director |
17/03/2009 |
0.00 |
- |
USD3,713,613.00 |
2016 |
- |
19/01/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
BRIAN JEAN SCHROEYENS |
|
Address |
: |
LE BOIS DU FOUR, ROUTE DE BURTIGNY, 1268-BEGNINS, SWITZERLAND. |
|
IC / PP No |
: |
761293709 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
04/05/2009 |
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 |
200904745D |
INTEGRA PETROCHEMICALS PTE. LTD. |
Director |
04/05/2009 |
0.00 |
- |
USD3,713,613.00 |
2016 |
- |
19/01/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
KEVIN LEE SIOW PING |
|
Address |
: |
33, HINDHEDE WALK, 09-13, SOUTHAVEN II, 587968, SINGAPORE. |
|
IC / PP No |
: |
S7812796A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/11/2016 |
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 |
197502125W |
BTS TANKERS PTE. LTD. |
Director |
23/12/2014 |
0.00 |
- |
USD9,876,000.00 |
2015 |
- |
19/10/2016 |
|
2 |
200904745D |
INTEGRA PETROCHEMICALS PTE. LTD. |
Director |
16/11/2016 |
0.00 |
- |
USD3,713,613.00 |
2016 |
- |
19/01/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
GEORGINA CAMPBELL FYFFE |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
MOORE STEPHENS LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
ANGELA TOH LI PING |
|
IC / PP No |
: |
S8616968A |
|
|
Address |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND TOWER, 048623,
SINGAPORE. |
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
ABN AMRO BANK N.V. |
|
2) |
Name |
: |
BNP PARIBAS (SUISSE) SA |
|
3) |
Name |
: |
STANDARD CHARTERED BANK |
|
4) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200904499 |
21/07/2009 |
N/A |
BNP PARIBAS (SUISSE) SA |
- |
Unsatisfied |
|
C200905393 |
28/08/2009 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
|
C200905411 |
28/08/2009 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
|
C200905414 |
28/08/2009 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
|
C200905682 |
09/09/2009 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
|
C200907931 |
03/12/2009 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C200907935 |
03/12/2009 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C200907936 |
03/12/2009 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C201304096 |
20/03/2013 |
N/A |
CREDIT SUISSE (SCHWEIZ) AG |
- |
Unsatisfied |
|
C201304100 |
20/03/2013 |
N/A |
CREDIT SUISSE (SCHWEIZ) AG |
- |
Unsatisfied |
|
C201412470 |
10/11/2014 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
|
C201600439 |
12/01/2016 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201600442 |
12/01/2016 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201600447 |
12/01/2016 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201600448 |
12/01/2016 |
N/A |
BANQUE CANTONALE DE GENEVE |
- |
Unsatisfied |
|
C201603544 |
31/03/2016 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201612354 |
08/12/2016 |
N/A |
CREDIT SUISSE (SCHWEIZ) AG |
- |
Unsatisfied |
|
C201705719 |
13/06/2017 |
N/A |
COOPERATIVE RABOBANK U.A |
- |
Unsatisfied |
|
C201713083 |
20/12/2017 |
N/A |
ING BELGIUM, BRUSSELS, GENEVA BRANCH |
- |
Unsatisfied |
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 |
: |
YES |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
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 |
Percentage |
: |
60% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
15 - 30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
PETROCHEMICALS PRODUCTS |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
50 |
50 |
30 |
30 |
30 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
petrochemical products.
The Subject offer wide range of chemical product including:
- Olefins
- Aromatics
- Chloralkalis
- Alcohols and Intermediates
- Polymers etc
The Subject also provide service to their customer such as:
- Buying and Selling Chemicals
- Chartering
- Storage and Terminalling
- Inventory Management
- Logistics and Operations
- Risk Management etc
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
6562209895 |
|
Current Telephone Number |
: |
65-62209895 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
2, BATTERY ROAD, 22-01, MAY BANK TOWER, 049907 |
|
Current Address |
: |
2, BATTERY ROAD, 22-01, MAYBANK TOWER, 049907, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS |
|
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
34.20% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
53.48% |
] |
|
|
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. 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 |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
4 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
31 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
32 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 |
[ |
1.04 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.13 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 |
[ |
3.54 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.77 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 lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
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 as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
Overall financial condition of the Subject : FAIR |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK |
|
|
|
Major Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population (Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood & Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper & Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing & Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical & Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber & Plastic Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery & Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport, Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance & Insurance |
0.50 |
3.30 |
6.00 |
- |
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 : |
TRADING |
|
The wholesale & retail trade sector expanded by 6.8% in the
third quarter of 2015, higher than the 6.0% growth in the preceding quarter.
Growth was supported by both the wholesale trade and retail trade segments.
The wholesale trade segment was boosted by an increase in both domestic and
foreign wholesale trade sales volume. In particular, the domestic wholesale
trade index rose by 7.4%, following the 8.1 % increase in the previous
quarter. The strong performance in domestic wholesale trade was due to a
surge in the sales of petroleum and petroleum products (14%), chemicals &
chemical products (39%) and telecommunications & computers (18%). |
|
|
Similarly, the foreign wholesale trade index rose by 10% in the
third quarter of 2015, accelerating from the 6.9% rise in the previous
quarter. Growth was driven by improvements in the sales of petroleum &
petroleum products (21%), metals, timber & construction materials (10%)
and general wholesale trade (8.8%). |
|
|
Overall retail trade sales volume also recorded resilient growth
of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second
quarter. Growth was supported by a surge in the volume of motor vehicle sales
(44%), which was in turn due to a substantial increase in the supply of
Certificate of Entitlements. Excluding motor vehicles, retail sales volume
increased at a much slower pace of 0.7% over the same period. The increase in
retail sales volume (excluding motor vehicles) was due to improved
non-discretionary goods sales. For instance, the sales of medical goods &
toiletries and department store goods rose by 8.1% and 3.6% respectively. |
|
|
According to the Retail News Asia, Food and beverage has
overtaken fashion as the primary driver of demand for retail real estate in
Singapore. Despite declining retail sales and consumer spending, the prime
retail sector remained in good shape during the third quarter 2015. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
PROFIT AND LOSS ACCOUNT |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
INTEGRA PETROCHEMICALS 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 |
683,671,604 |
688,823,614 |
1,291,046,933 |
1,365,321,024 |
1,465,550,031 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
683,671,604 |
688,823,614 |
1,291,046,933 |
1,365,321,024 |
1,465,550,031 |
|
Costs of Goods Sold |
(668,385,836) |
(675,562,550) |
(1,277,595,875) |
(1,360,551,737) |
(1,459,026,563) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
15,285,768 |
13,261,064 |
13,451,058 |
4,769,287 |
6,523,468 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
4,167,916 |
1,747,839 |
2,325,424 |
(8,485,382) |
(4,330,541) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
4,167,916 |
1,747,839 |
2,325,424 |
(8,485,382) |
(4,330,541) |
|
Taxation |
(454,303) |
(231,827) |
593,865 |
(24,545) |
615,620 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,713,613 |
1,516,012 |
2,919,289 |
(8,509,927) |
(3,714,921) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
9,078,782 |
8,062,770 |
5,126,411 |
13,636,338 |
17,351,259 |
|
Prior year adjustment |
- |
- |
17,070 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
9,078,782 |
8,062,770 |
5,143,481 |
13,636,338 |
17,351,259 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
12,792,395 |
9,578,782 |
8,062,770 |
5,126,411 |
13,636,338 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(2,000,000) |
(500,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
10,792,395 |
9,078,782 |
8,062,770 |
5,126,411 |
13,636,338 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
83,419 |
110,189 |
108,489 |
206,999 |
- |
|
Loan from holding company |
- |
- |
- |
27,397 |
- |
|
Term loan / Borrowing |
66,397 |
145,505 |
35,915 |
76,344 |
- |
|
Others |
1,489,820 |
1,528,202 |
1,906,212 |
1,981,074 |
4,245 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,639,636 |
1,783,896 |
2,050,616 |
2,291,814 |
4,245 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
|
|
INTEGRA PETROCHEMICALS PTE. LTD. |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
326,817 |
326,817 |
326,817 |
- |
- |
|
Associated companies |
- |
- |
- |
167,147 |
237,101 |
|
Deferred assets |
485,172 |
939,475 |
1,171,302 |
577,437 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
811,989 |
1,266,292 |
1,498,119 |
744,584 |
237,101 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
811,989 |
1,266,292 |
1,498,119 |
744,584 |
237,101 |
|
Stocks |
6,876,285 |
7,323,401 |
7,635,537 |
3,455,709 |
7,819,484 |
|
Trade debtors |
58,185,014 |
45,536,915 |
66,920,171 |
54,797,361 |
112,961,343 |
|
Other debtors, deposits & prepayments |
1,304,768 |
2,134,799 |
1,278,243 |
1,572,866 |
3,683,052 |
|
Short term deposits |
4,367,796 |
1,644,493 |
4,941,136 |
595,026 |
4,949,163 |
|
Amount due from holding company |
62,477 |
- |
229,673 |
- |
- |
|
Amount due from related companies |
8,237,476 |
108,767 |
22,718 |
199,706 |
314,807 |
|
Cash & bank balances |
7,454,801 |
6,238,331 |
4,060,801 |
13,627,399 |
723,739 |
|
Others |
970,626 |
- |
832,218 |
250 |
615,101 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
87,459,243 |
62,986,706 |
85,920,497 |
74,248,317 |
131,066,689 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
88,271,232 |
64,252,998 |
87,418,616 |
74,992,901 |
131,303,790 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
59,489,005 |
40,047,321 |
58,817,837 |
46,412,128 |
89,937,300 |
|
Other creditors & accruals |
3,709,566 |
5,590,200 |
5,810,491 |
1,464,205 |
1,381,660 |
|
Bank overdraft |
5,591,409 |
2,969,071 |
922,598 |
1,154,647 |
5,864,653 |
|
Short term borrowings/Term loans |
2,805,722 |
- |
7,596,915 |
15,353,202 |
10,679,956 |
|
Amounts owing to holding company |
2,197,372 |
4,198,151 |
4,000,000 |
2,556,302 |
480,899 |
|
Amounts owing to related companies |
3,618,860 |
2,248,115 |
2,141,102 |
407,592 |
1,144,641 |
|
Other liabilities |
- |
54,455 |
- |
2,451,511 |
8,111,440 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
77,411,934 |
55,107,313 |
79,288,943 |
69,799,587 |
117,600,549 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
10,047,309 |
7,879,393 |
6,631,554 |
4,448,730 |
13,466,140 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
66,903 |
66,903 |
66,903 |
66,903 |
66,903 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
66,903 |
66,903 |
66,903 |
66,903 |
66,903 |
|
Retained profit/(loss) carried forward |
10,792,395 |
9,078,782 |
8,062,770 |
5,126,411 |
13,636,338 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
10,792,395 |
9,078,782 |
8,062,770 |
5,126,411 |
13,636,338 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
INTEGRA PETROCHEMICALS PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
11,822,597 |
7,882,824 |
9,001,937 |
14,222,425 |
5,672,902 |
|
Net Liquid Funds |
6,231,188 |
4,913,753 |
8,079,339 |
13,067,778 |
(191,751) |
|
Net Liquid Assets |
3,171,024 |
555,992 |
(1,003,983) |
993,021 |
5,646,656 |
|
Net Current Assets/(Liabilities) |
10,047,309 |
7,879,393 |
6,631,554 |
4,448,730 |
13,466,140 |
|
Net Tangible Assets |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
Net Monetary Assets |
3,171,024 |
555,992 |
(1,003,983) |
993,021 |
5,646,656 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
3,531,735 |
4,376,040 |
(6,193,568) |
(4,326,296) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
5,807,552 |
3,531,735 |
4,376,040 |
(6,193,568) |
(4,326,296) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
8,397,131 |
2,969,071 |
8,519,513 |
16,507,849 |
16,544,609 |
|
Total Liabilities |
77,411,934 |
55,107,313 |
79,288,943 |
69,799,587 |
117,600,549 |
|
Total Assets |
88,271,232 |
64,252,998 |
87,418,616 |
74,992,901 |
131,303,790 |
|
Net Assets |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
Net Assets Backing |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
Shareholders' Funds |
10,859,298 |
9,145,685 |
8,129,673 |
5,193,314 |
13,703,241 |
|
Total Share Capital |
66,903 |
66,903 |
66,903 |
66,903 |
66,903 |
|
Total Reserves |
10,792,395 |
9,078,782 |
8,062,770 |
5,126,411 |
13,636,338 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(0.75) |
(46.65) |
(5.44) |
(6.84) |
(2.65) |
|
Proft/(Loss) Before Tax |
138.46 |
(24.84) |
127.41 |
(95.94) |
(149.03) |
|
Proft/(Loss) After Tax |
144.96 |
(48.07) |
134.30 |
(129.07) |
(146.27) |
|
Total Assets |
37.38 |
(26.50) |
16.57 |
(42.89) |
31.76 |
|
Total Liabilities |
40.47 |
(30.50) |
13.60 |
(40.65) |
43.00 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.15 |
0.14 |
0.11 |
0.20 |
0.05 |
|
Liquid Ratio |
1.04 |
1.01 |
0.99 |
1.01 |
1.05 |
|
Current Ratio |
1.13 |
1.14 |
1.08 |
1.06 |
1.11 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
4 |
4 |
2 |
1 |
2 |
|
Debtors Ratio |
31 |
24 |
19 |
15 |
28 |
|
Creditors Ratio |
32 |
22 |
17 |
12 |
22 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.77 |
0.32 |
1.05 |
3.18 |
1.21 |
|
Liabilities Ratio |
7.13 |
6.03 |
9.75 |
13.44 |
8.58 |
|
Times Interest Earned Ratio |
3.54 |
1.98 |
2.13 |
(2.70) |
(1,019.15) |
|
Assets Backing Ratio |
162.31 |
136.70 |
121.51 |
77.62 |
204.82 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.61 |
0.25 |
0.18 |
(0.62) |
(0.30) |
|
Net Profit Margin |
0.54 |
0.22 |
0.23 |
(0.62) |
(0.25) |
|
Return On Net Assets |
53.48 |
38.62 |
53.83 |
(119.26) |
(31.57) |
|
Return On Capital Employed |
35.30 |
29.15 |
48.34 |
(97.57) |
(22.11) |
|
Return On Shareholders' Funds/Equity |
34.20 |
16.58 |
35.91 |
(163.86) |
(27.11) |
|
Dividend Pay Out Ratio (Times) |
0.54 |
0.33 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
|
SGD |
1 |
INR 49.24 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.