|
|
|
MIRA INFORM REPORT
|
Report No. : |
483852 |
|
Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
AMEROPA ASIA PTE. LTD. |
|
|
|
|
Registered Office : |
1, Temasek Avenue, 31-02, Millenia Tower, 039192 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
27.11.2007 |
|
|
|
|
Com. Reg. No.: |
200721966-H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is engaged in the trading of grain and fertilizer. |
|
|
|
|
No. of Employees : |
32 [2017] |
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 (30.06.2017) |
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 2014-16 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.
The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION
NO. |
: |
200721966-H |
||||
|
COMPANY
NAME |
: |
AMEROPA
ASIA PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
27/11/2007 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
1,
TEMASEK AVENUE, 31-02, MILLENIA TOWER, 039192, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
MILLENIA
TOWER, 31-02, ONE TEMASEK AVENUE, 039192, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64990800 |
||||
|
FAX.NO. |
: |
65-63342339 |
||||
|
EMAIL |
: |
SINGAPORE@AMEROPA.COM |
||||
|
WEB
SITE |
: |
WWW.AMEROPA.COM |
||||
|
CONTACT
PERSON |
: |
ALEXANDER
SERGE CHUMAKOV ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF GRAIN AND FERTILIZER |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
15,000,000.00
ORDINARY SHARE, OF A VALUE OF USD 15,000,000.00 |
||||
|
SALES |
: |
USD
839,559,487 [2016] |
||||
|
NET
WORTH |
: |
USD
81,115,610 [2016] |
||||
|
STAFF
STRENGTH |
: |
32
[2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
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 grain and
fertilizer.
The
immediate and ultimate holding company of the Subject is AMEROPA HOLDING AG, a
company incorporated in SWITZERLAND.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
25/10/2017 |
USD
15,000,000.00 & SGD 31,354,500.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
AMEROPA
HOLDING AG |
REBGASSE
108, CH-4102, BINNINGEN SWITZERLAND |
T07UF3665 |
46,354,500.00 |
100.00 |
|
--------------- |
------ |
|||
|
46,354,500.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR 1
|
Name
Of Subject |
: |
ALEXANDER
SERGE CHUMAKOV |
|
Address |
: |
9,
ARDMORE PARK, 22-02, ARDMORE PARK, 259955, SINGAPORE. |
|
IC
/ PP No |
: |
F1810261R |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
01/04/2008 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
1 |
200721966H |
AMEROPA
ASIA PTE. LTD. |
Director |
01/04/2008 |
0.00 |
USD6,917,391.00 |
2016 |
- |
25/10/2017 |
DIRECTOR
2
|
Name
Of Subject |
: |
MURPHY
SIMON JOHN |
|
Address |
: |
1B,
GREENLEAF DRIVE, 279572, SINGAPORE. |
|
IC
/ PP No |
: |
S2764797I |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
25/06/2015 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
1 |
200721966H |
AMEROPA
ASIA PTE. LTD. |
Director |
25/06/2015 |
0.00 |
USD6,917,391.00 |
2016 |
- |
25/10/2017 |
DIRECTOR
3
|
Name
Of Subject |
: |
JAN
KADANIK |
|
Address |
: |
RENNWEG
86, 4052, BASEL, SWITZERLAND. |
|
IC
/ PP No |
: |
41119164 |
|
Nationality |
: |
CZECH |
|
Date
of Appointment |
: |
04/05/2012 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
1 |
200721966H |
AMEROPA
ASIA PTE. LTD. |
Director |
04/05/2012 |
0.00 |
USD6,917,391.00 |
2016 |
- |
25/10/2017 |
DIRECTOR
4
|
Name
Of Subject |
: |
ANDREW
HENRY ZIVY |
|
Address |
: |
BUNDTENWEG
78, CH-4102, BINNINGEN, SWITZERLAND. |
|
IC
/ PP No |
: |
X4043239 |
|
Nationality |
: |
SWISS |
|
Date
of Appointment |
: |
27/11/2007 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
1 |
200721966H |
AMEROPA
ASIA PTE. LTD. |
Director |
27/11/2007 |
0.00 |
USD6,917,391.00 |
2016 |
- |
25/10/2017 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
ALEXANDER
SERGE CHUMAKOV |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
ERNST
& YOUNG LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
CHAN
CHOW PHENG |
|
IC
/ PP No |
: |
S1298885J |
|
|
Address |
: |
112,
ROBINSON ROAD, 05-01, ROBINSON 112, 068902, SINGAPORE. |
|
|
2)
|
Company
Secretary |
: |
TEO
CHIN KEE |
|
IC
/ PP No |
: |
S2622115C |
|
|
Address |
: |
19,
SIN MING WALK, 09-09, THOMSON GRAND, 573914, SINGAPORE. |
|
BANKING
|
Banking
relations are maintained principally with :
|
1)
|
Name |
: |
THE
HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
|
2)
|
Name |
: |
STANDARD
CHARTERED BANK LIMITED |
|
ENCUMBRANCE (S) |
No
encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import
Countries |
: |
EUROPE |
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
|
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
32 |
32 |
26 |
25 |
13 |
||||
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of grain and
fertilizer.
The Subject sells the followings:
* Grains and oilseeds
* Fertilizers
* Other commodities
The Subject sells the products according to its customers' orders.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-64990800 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
ONE
TEAMSEK AVENUE, #31-02 MILLENIA TOWER 039192 SINGAPORE |
|
Current
Address |
: |
MILLENIA
TOWER, 31-02, ONE TEMASEK AVENUE, 039192, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We
have contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012
- 2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2012
- 2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
8.53% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
9.58% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the
Subject's products / services.The Subject's profit fell sharply because of
the high operating costs incurred. The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
3
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
16
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
4
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 |
[ |
5.02
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
5.36
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's performance deteriorated over the years with lower turnover and profit.
The Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population
(Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross
Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer
Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total
Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total
Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment
Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist
Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel
Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular
Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration
of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation
of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation
of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration
of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration
of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation
of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation
of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy
Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy
Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy
Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish
Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing
Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather
Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood
& Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper
& Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing
& Media |
122.8 |
113.8 |
105.968
|
100.0 |
86.9 |
|
Crude
Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical
& Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical
Products |
103.8 |
101.421
|
109.4 |
100.0 |
115.9 |
|
Rubber
& Plastic Products |
113.5 |
109.497
|
109.2 |
100.0 |
87.9 |
|
Non-metallic
Mineral |
108.8 |
107.4 |
90.759
|
100.0 |
93.6 |
|
Basic
Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated
Metal Products |
107.314
|
107.5 |
107.757
|
100.0 |
91.7 |
|
Machinery
& Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical
Machinery |
80.102
|
87.4 |
97.871
|
100.0 |
99.3 |
|
Electronic
Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport
Equipment |
109.9 |
111.1 |
106.68
|
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real
Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport,
Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance
& Insurance |
0.50 |
3.30 |
6.00 |
- |
- |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
*
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
|
|
|
Financials
|
PROFIT
AND LOSS ACCOUNT |
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
AMEROPA
ASIA 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 |
839,559,487 |
1,009,442,237 |
1,048,146,397 |
925,309,341 |
782,153,532 |
|
Other
Income |
63,940 |
16,243 |
2,945 |
405 |
94,633 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
839,623,427 |
1,009,458,480 |
1,048,149,342 |
925,309,746 |
782,248,165 |
|
Costs
of Goods Sold |
(823,427,819) |
(980,368,342) |
(1,025,985,710) |
(910,460,930) |
(768,136,600) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
16,195,608 |
29,090,138 |
22,163,632 |
14,848,816 |
14,111,565 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
7,772,570 |
15,743,720 |
10,673,986 |
5,797,874 |
5,330,555 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
7,772,570 |
15,743,720 |
10,673,986 |
5,797,874 |
5,330,555 |
|
Taxation |
(855,179) |
(1,511,818) |
(1,091,312) |
(544,508) |
(515,089) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
6,917,391 |
14,231,902 |
9,582,674 |
5,253,366 |
4,815,466 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
1,682,971 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
1,682,971 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
41,983,770 |
35,066,379 |
21,334,477 |
11,751,803 |
6,498,437 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
- |
(500,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
41,983,770 |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
DEPRECIATION
(as per notes to P&L) |
30,679 |
45,827 |
146,998 |
164,675 |
172,140 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
30,679 |
45,827 |
146,998 |
164,675 |
172,140 |
|
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE
SHEET |
|
AMEROPA
ASIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
27,510 |
42,504 |
67,088 |
182,379 |
298,761 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
27,510 |
42,504 |
67,088 |
182,379 |
298,761 |
|
Stocks |
6,334,004 |
10,438,018 |
5,037,935 |
4,259,373 |
2,212,546 |
|
Trade
debtors |
37,050,597 |
42,708,562 |
78,174,398 |
51,442,718 |
22,345,902 |
|
Other
debtors, deposits & prepayments |
630,243 |
702,763 |
349,552 |
239,375 |
225,252 |
|
Short
term deposits |
12,766,515 |
26,071,538 |
- |
4,000,000 |
- |
|
Amount
due from related companies |
17,319,617 |
29,581,516 |
35,144,986 |
1,835,940 |
2,427,066 |
|
Cash
& bank balances |
16,168,251 |
17,672,880 |
10,718,741 |
13,551,122 |
33,732,472 |
|
Others |
9,409,473 |
7,900,446 |
5,209,586 |
3,392,139 |
1,002,445 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
99,678,700 |
135,075,723 |
134,635,198 |
78,720,667 |
61,945,683 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
99,706,210 |
135,118,227 |
134,702,286 |
78,903,046 |
62,244,444 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
7,943,092 |
47,633,688 |
19,778,029 |
24,511,927 |
13,669,786 |
|
Other
creditors & accruals |
5,710,467 |
8,115,926 |
6,978,493 |
2,816,275 |
2,349,721 |
|
Short
term borrowings/Term loans |
- |
- |
21,422,229 |
- |
- |
|
Other
borrowings |
- |
- |
25,202,057 |
- |
- |
|
Amounts
owing to related companies |
349,243 |
123,502 |
124,886 |
116,201 |
38,262 |
|
Provision
for taxation |
800,000 |
1,534,000 |
1,105,700 |
520,000 |
526,398 |
|
Other
liabilities |
3,787,798 |
3,512,892 |
124,575 |
55,000 |
30,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
18,590,600 |
60,920,008 |
74,735,969 |
28,019,403 |
16,614,167 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
81,088,100 |
74,155,715 |
59,899,229 |
50,701,264 |
45,331,516 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
|
Retained
profit/(loss) carried forward |
41,983,770 |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
41,983,770 |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL
RATIO |
|
AMEROPA
ASIA PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
28,934,766 |
43,744,418 |
10,718,741 |
17,551,122 |
33,732,472 |
|
Net
Liquid Funds |
28,934,766 |
43,744,418 |
10,718,741 |
17,551,122 |
33,732,472 |
|
Net
Liquid Assets |
74,754,096 |
63,717,697 |
54,861,294 |
46,441,891 |
43,118,970 |
|
Net
Current Assets/(Liabilities) |
81,088,100 |
74,155,715 |
59,899,229 |
50,701,264 |
45,331,516 |
|
Net
Tangible Assets |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
Net
Monetary Assets |
74,754,096 |
63,717,697 |
54,861,294 |
46,441,891 |
43,118,970 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
15,743,720 |
10,673,986 |
5,797,874 |
5,330,555 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
7,803,249 |
15,789,547 |
10,820,984 |
5,962,549 |
5,502,695 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
46,624,286 |
0 |
0 |
|
Total
Liabilities |
18,590,600 |
60,920,008 |
74,735,969 |
28,019,403 |
16,614,167 |
|
Total
Assets |
99,706,210 |
135,118,227 |
134,702,286 |
78,903,046 |
62,244,444 |
|
Net
Assets |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
Net
Assets Backing |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
Shareholders'
Funds |
81,115,610 |
74,198,219 |
59,966,317 |
50,883,643 |
45,630,277 |
|
Total
Share Capital |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
39,131,840 |
|
Total
Reserves |
41,983,770 |
35,066,379 |
20,834,477 |
11,751,803 |
6,498,437 |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
(16.83) |
(3.69) |
13.28 |
18.30 |
28,537.65 |
|
Proft/(Loss)
Before Tax |
(50.63) |
47.50 |
84.10 |
8.77 |
278.75 |
|
Proft/(Loss)
After Tax |
(51.40) |
48.52 |
82.41 |
9.09 |
256.77 |
|
Total
Assets |
(26.21) |
0.31 |
70.72 |
26.76 |
119.50 |
|
Total
Liabilities |
(69.48) |
(18.49) |
166.73 |
68.65 |
553.55 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
1.56 |
0.72 |
0.14 |
0.63 |
2.03 |
|
Liquid
Ratio |
5.02 |
2.05 |
1.73 |
2.66 |
3.60 |
|
Current
Ratio |
5.36 |
2.22 |
1.80 |
2.81 |
3.73 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
3 |
4 |
2 |
2 |
1 |
|
Debtors
Ratio |
16 |
15 |
27 |
20 |
10 |
|
Creditors
Ratio |
4 |
18 |
7 |
10 |
6 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
0.78 |
0 |
0 |
|
Liabilities
Ratio |
0.23 |
0.82 |
1.25 |
0.55 |
0.36 |
|
Times
Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets
Backing Ratio |
2.07 |
1.90 |
1.53 |
1.30 |
1.17 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.93 |
1.56 |
1.02 |
0.63 |
0.68 |
|
Net
Profit Margin |
0.82 |
1.41 |
0.91 |
0.57 |
0.62 |
|
Return
On Net Assets |
9.58 |
21.22 |
17.80 |
11.39 |
11.68 |
|
Return
On Capital Employed |
9.58 |
21.22 |
17.80 |
11.39 |
11.68 |
|
Return
On Shareholders' Funds/Equity |
8.53 |
19.18 |
15.98 |
10.32 |
10.55 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0.05 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.67 |
|
|
1 |
INR 85.90 |
|
Euro |
1 |
INR 76.41 |
|
SGD |
1 |
INR 47.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.