|
|
|
MIRA INFORM REPORT
|
Report No. : |
493728 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
|
|
|
|
Formerly Known As : |
|
|
|
|
|
Registered Office : |
2, Serangoon North Avenue 5, 05-01, 554911 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
03.10.2001 |
|
|
|
|
Com. Reg. No.: |
200106499K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of electronic components,
semi-conductors, rendering of management services. |
|
|
|
|
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+ |
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 (30.09.2017) |
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. |
: |
200106499K |
|
COMPANY NAME |
: |
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
WINTECH MICROELECTRONICS SINGAPORE PTE. LTD. (16/07/2007) |
|
INCORPORATION DATE |
: |
03/10/2001 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
2, SERANGOON NORTH AVENUE 5, 05-01, 554911, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
2, SERANGOON NORTH AVENUE 5, 05-01, 554911, SINGAPORE. |
|
TEL.NO. |
: |
65-68531788 |
|
FAX.NO. |
: |
65-68531286 |
|
WEB SITE |
: |
WWW.WTMEC.COM |
|
CONTACT PERSON |
: |
HSU, WEN-HUNG ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF ELECTRONIC COMPONENTS, SEMI-CONDUCTORS, RENDERING OF
MANAGEMENT SERVICES |
|
ISSUED AND PAID UP CAPITAL |
: |
1,500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,500,000.00 |
|
SALES |
: |
USD 132,198,146 [2016] |
|
NET WORTH |
: |
USD 2,400,880 [2016] |
|
STAFF STRENGTH |
: |
50 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is a private limited
company and is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading
of electronic components, semi-conductors, rendering of management services.
The immediate holding company of the Subject is WINTECH INVESTMENT
CO. LTD, a company incorporated in UNITED STATES.
The ultimate holding company of the Subject is WT MICROELECTRONICS
CO. LTD, a company incorporated in TAIWAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
22/02/2018 |
SGD 1,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WINTECH INVESTMENT CO. LTD |
60, MARKET SQUARE, P O BOX 364, BELIZE CITY CENTRAL AMERICA
UNITED STATES |
T03UF1049 |
1,500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TAN CHAI SENG |
|
Address |
: |
604, JURONG WEST STREET 62, 12-199, 640604, SINGAPORE. |
|
IC / PP No |
: |
S1235220D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/09/2010 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200313093D |
ACT 3 INTERNATIONAL SINGAPORE PTE. LTD. |
Secretary |
18/07/2014 |
0.00 |
- |
282.00 |
- |
- |
17/08/2016 |
|
2 |
201200669M |
AMEDIA SUPPLIES PTE. LTD. |
Secretary |
01/10/2014 |
0.00 |
- |
282.00 |
- |
- |
09/11/2016 |
|
3 |
199805758G |
BENWIN SINGAPORE PTE LTD |
Secretary |
22/05/2014 |
0.00 |
- |
282.00 |
- |
- |
10/08/2015 |
|
4 |
201712311G |
CLOUD NETWORK TECHNOLOGY SINGAPORE PTE. LTD. |
Secretary |
04/05/2017 |
0.00 |
- |
282.00 |
- |
- |
28/11/2017 |
|
5 |
201503669M |
ECMMS PRECISION SINGAPORE PTE. LTD. |
Secretary |
06/02/2015 |
0.00 |
- |
USD8,894,784.00 |
2015 |
- |
28/12/2016 |
|
6 |
201715251M |
FIH SINGAPORE TRADING PTE. LTD. |
Secretary |
01/06/2017 |
0.00 |
- |
282.00 |
- |
- |
09/01/2018 |
|
7 |
201532793W |
FOXCONN OPTICAL INTERCONNECT TECHNOLOGIES SINGAPORE PTE. LTD. |
Secretary |
25/08/2015 |
0.00 |
- |
282.00 |
- |
- |
29/12/2015 |
|
8 |
198703150K |
HALEYWOOD INDUSTRIES PTE LTD |
Secretary |
28/02/2014 |
0.00 |
- |
282.00 |
- |
- |
13/03/2017 |
|
9 |
197400713N |
HOSODA (SINGAPORE) PTE. LTD. |
Secretary |
01/03/2014 |
0.00 |
- |
SGD521,456.00 |
2015 |
- |
09/01/2017 |
|
10 |
201507986N |
INGRASYS (SINGAPORE) PTE. LTD. |
Secretary |
25/03/2015 |
0.00 |
- |
USD1,000,434.00 |
2015 |
- |
13/01/2017 |
|
11 |
200310709G |
KBM SINGAPORE PTE. LTD. |
Director Secretary |
23/10/2003 30/07/2014 |
0.00 |
- |
282.00 |
- |
- |
12/05/2016 |
|
12 |
198403299D |
LOCKWELL FASTENERS & ENGINEERING PTE LTD |
Secretary |
29/08/2014 |
0.00 |
- |
282.00 |
- |
- |
23/08/2017 |
|
13 |
201009299M |
MARKONO DOCUMENT SOLUTIONS PTE. LTD. |
Secretary |
05/03/2014 |
0.00 |
- |
SGD2,844.00 |
2012 |
- |
27/05/2014 |
|
14 |
200916623M |
MULTIWIN PRECISION IND PTE. LTD. |
Secretary |
31/12/2014 |
0.00 |
- |
USD3,765,448.00 |
2016 |
- |
03/11/2017 |
|
15 |
198302433K |
WANGI INDUSTRIAL COMPANY (PTE.) LTD. |
Secretary |
10/06/2014 |
0.00 |
- |
282.00 |
- |
- |
24/08/2016 |
|
16 |
200106499K |
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
Secretary Director |
26/06/2014 01/09/2010 |
0.00 |
- |
USD1,543,130.00 |
2016 |
- |
22/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
HSU, WEN-HUNG |
|
Address |
: |
3F, 16, SONGZHI ROAD, XINYI DISTRICT, TAIPEI CITY, 110, TAIWAN,
CHINA. |
|
IC / PP No |
: |
302523066 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
24/10/2002 |
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 |
606750V |
WT MICROELECTRONICS (MALAYSIA) SDN. BHD. |
Director |
13/05/2003 |
0.00 |
- |
MYR204,486.00 |
2016 |
- |
25/01/2018 |
|
2 |
200106499K |
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
Director |
24/10/2002 |
0.00 |
- |
USD1,543,130.00 |
2016 |
- |
22/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
CHENG, WEN-TSUNG |
|
Address |
: |
3F, 16, SONGZHI ROAD, XINYI DISTRICT, TAIPEI CITY, 110, TAIWAN,
CHINA. |
|
IC / PP No |
: |
302732566 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
03/10/2001 |
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 |
606750V |
WT MICROELECTRONICS (MALAYSIA) SDN. BHD. |
Director |
13/05/2003 |
0.00 |
- |
MYR204,486.00 |
2016 |
- |
25/01/2018 |
|
2 |
200106499K |
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
Director |
03/10/2001 |
0.00 |
- |
USD1,543,130.00 |
2016 |
- |
22/02/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
HSU, WEN-HUNG |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
P G WEE PARTNERSHIP LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
TAN CHAI SENG |
|
IC / PP No |
: |
S1235220D |
|
|
Address |
: |
604, JURONG WEST STREET 62, 12-199, 640604, 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 |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
|||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
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
|
|
Goods Traded |
: |
ELECTRONIC COMPONENTS,SEMI-CONDUCTORS |
|
|
Services |
: |
RENDERING OF MANAGEMENT SERVICES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
2016 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
50 |
70 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of electronic
components, semi-conductors, rendering of management services.
The Subject is a leading professional service provider focusing on the global
semiconductor distribution industry.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
65 6853 1788 |
|
Current Telephone Number |
: |
65-68531788 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
2 SERANGOON NORTH AVE 5 #05-01 554911 SINGAPORE |
|
Current Address |
: |
2, SERANGOON NORTH AVENUE 5, 05-01, 554911, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
64.27% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
77.79% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.The higher profit could be attributed to
the increase in turnover. 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 |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
77 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The high debtors' ratio
could indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. 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 |
[ |
1.05 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.05 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 |
: |
Favourable |
[ |
18.19 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service
the interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. 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 : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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. With the favourable interest cover, the Subject could
be able to service all the accrued interest without facing any difficulties.
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 : STABLE |
||||||
|
|
||||||
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. |
|
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
132,198,146 |
79,976,908 |
84,646,216 |
91,408,612 |
|
Other Income |
423,238 |
735,733 |
652,407 |
283,614 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
132,621,384 |
80,712,641 |
85,298,623 |
91,692,226 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,764,935 |
916,262 |
196,289 |
689,028 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,764,935 |
916,262 |
196,289 |
689,028 |
|
Taxation |
(221,805) |
(89,721) |
(2,725) |
26,020 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,543,130 |
826,541 |
193,564 |
715,048 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
7,480,555 |
6,654,014 |
6,460,450 |
5,374,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
7,480,555 |
6,654,014 |
6,460,450 |
5,374,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
9,023,685 |
7,480,555 |
6,654,014 |
6,089,851 |
|
TRANSFER TO RESERVES - General |
- |
- |
- |
370,599 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(7,480,555) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,543,130 |
7,480,555 |
6,654,014 |
6,460,450 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Term loan / Borrowing |
102,671 |
79,515 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
102,671 |
79,515 |
- |
- |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
153,287 |
108,883 |
88,358 |
28,470 |
|
AMORTIZATION |
4,590 |
6,120 |
6,120 |
1,530 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
157,877 |
115,003 |
94,478 |
30,000 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
254,199 |
256,307 |
260,335 |
173,289 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
103,321 |
103,321 |
103,321 |
103,321 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
103,321 |
103,321 |
103,321 |
103,321 |
|
INTANGIBLE ASSETS |
||||
|
Computer software |
- |
4,590 |
10,710 |
16,830 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
- |
4,590 |
10,710 |
16,830 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
357,520 |
364,218 |
374,366 |
293,440 |
|
CURRENT ASSETS |
||||
|
Stocks |
88,841 |
173,526 |
56,970 |
7,549 |
|
Trade debtors |
27,754,805 |
15,275,838 |
18,117,480 |
18,455,742 |
|
Other debtors, deposits & prepayments |
1,644,535 |
799,655 |
906,935 |
898,485 |
|
Amount due from holding company |
451,822 |
80,542 |
101,385 |
59,214 |
|
Amount due from related companies |
- |
- |
429 |
3,108 |
|
Cash & bank balances |
14,259,121 |
1,062,611 |
1,115,705 |
1,980,091 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
44,199,124 |
17,392,172 |
20,298,904 |
21,404,189 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
44,556,644 |
17,756,390 |
20,673,270 |
21,697,629 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
15,470 |
233 |
160,036 |
- |
|
Other creditors & accruals |
347,585 |
222,745 |
279,120 |
288,035 |
|
Deposits from customers |
182,303 |
64,318 |
253,778 |
397,244 |
|
Amounts owing to holding company |
30,129,884 |
2,953,994 |
12,416,574 |
13,603,307 |
|
Amounts owing to subsidiary companies |
16,472 |
16,343 |
17,873 |
13,046 |
|
Amounts owing to related companies |
11,229,050 |
6,070,786 |
30,525 |
33,291 |
|
Provision for taxation |
235,000 |
89,666 |
3,600 |
44,506 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
42,155,764 |
9,418,085 |
13,161,506 |
14,379,429 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,043,360 |
7,974,087 |
7,137,398 |
7,024,760 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,400,880 |
8,338,305 |
7,511,764 |
7,318,200 |
|
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
||||
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
857,750 |
857,750 |
857,750 |
857,750 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
857,750 |
857,750 |
857,750 |
857,750 |
|
RESERVES |
||||
|
Retained profit/(loss) carried forward |
1,543,130 |
7,480,555 |
6,654,014 |
6,460,450 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,543,130 |
7,480,555 |
6,654,014 |
6,460,450 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,400,880 |
8,338,305 |
7,511,764 |
7,318,200 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
WT MICROELECTRONICS SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
14,259,121 |
1,062,611 |
1,115,705 |
1,980,091 |
|
Net Liquid Funds |
14,259,121 |
1,062,611 |
1,115,705 |
1,980,091 |
|
Net Liquid Assets |
1,954,519 |
7,800,561 |
7,080,428 |
7,017,211 |
|
Net Current Assets/(Liabilities) |
2,043,360 |
7,974,087 |
7,137,398 |
7,024,760 |
|
Net Tangible Assets |
2,400,880 |
8,333,715 |
7,501,054 |
7,301,370 |
|
Net Monetary Assets |
1,954,519 |
7,800,561 |
7,080,428 |
7,017,211 |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
995,777 |
196,289 |
689,028 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
2,025,483 |
1,110,780 |
290,767 |
719,028 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
42,155,764 |
9,418,085 |
13,161,506 |
14,379,429 |
|
Total Assets |
44,556,644 |
17,756,390 |
20,673,270 |
21,697,629 |
|
Net Assets |
2,400,880 |
8,338,305 |
7,511,764 |
7,318,200 |
|
Net Assets Backing |
2,400,880 |
8,338,305 |
7,511,764 |
7,318,200 |
|
Shareholders' Funds |
2,400,880 |
8,338,305 |
7,511,764 |
7,318,200 |
|
Total Share Capital |
857,750 |
857,750 |
857,750 |
857,750 |
|
Total Reserves |
1,543,130 |
7,480,555 |
6,654,014 |
6,460,450 |
|
GROWTH RATIOS (Year on Year) (%) |
||||
|
Revenue |
65.30 |
(5.52) |
(7.40) |
- |
|
Proft/(Loss) Before Tax |
92.62 |
366.79 |
(71.51) |
- |
|
Proft/(Loss) After Tax |
86.70 |
327.01 |
(72.93) |
- |
|
Total Assets |
150.93 |
(14.11) |
(4.72) |
- |
|
Total Liabilities |
347.60 |
(28.44) |
(8.47) |
- |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.34 |
0.11 |
0.08 |
0.14 |
|
Liquid Ratio |
1.05 |
1.83 |
1.54 |
1.49 |
|
Current Ratio |
1.05 |
1.85 |
1.54 |
1.49 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
0 |
1 |
0 |
0 |
|
Debtors Ratio |
77 |
70 |
78 |
74 |
|
Creditors Ratio |
0 |
0 |
1 |
0 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
17.56 |
1.13 |
1.75 |
1.96 |
|
Times Interest Earned Ratio |
18.19 |
12.52 |
0 |
0 |
|
Assets Backing Ratio |
2.80 |
9.72 |
8.75 |
8.51 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
1.34 |
1.15 |
0.23 |
0.75 |
|
Net Profit Margin |
1.17 |
1.03 |
0.23 |
0.78 |
|
Return On Net Assets |
77.79 |
11.94 |
2.61 |
9.42 |
|
Return On Capital Employed |
77.79 |
11.94 |
2.61 |
9.39 |
|
Return On Shareholders' Funds/Equity |
64.27 |
9.91 |
2.58 |
9.77 |
|
Dividend Pay Out Ratio (Times) |
4.85 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
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
: |
NIS |
|
|
|
|
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.