|
|
|
MIRA INFORM REPORT
|
Report No. : |
485527 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PERKINELMER
SINGAPORE PTE. LTD. |
|
|
|
|
Formerly Known As : |
PERKINELMER SINGAPORE PTE LTD (20/10/2008)
|
|
|
|
|
Registered Office : |
80, Raffles Place, 32-01, Uob Plaza, 048624 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
01.01.2017 |
|
|
|
|
Date of Incorporation : |
14.10.1997 |
|
|
|
|
Com. Reg. No.: |
199707113-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacture and service of engineering and scientific instruments, analytical
instruments. |
|
|
|
|
No. of Employees : |
340 [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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It
enjoys a remarkably open and corruption-free environment, stable prices, and a per
capita GDP higher than that of most developed countries. Unemployment is very
low. The economy depends heavily on exports, particularly of consumer
electronics, information technology products, medical and optical devices,
pharmaceuticals, and on its vibrant transportation, business, and financial
services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial
crisis, but has continued to grow since 2010. Growth in 2014-16 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. |
: |
199707113-D |
|
COMPANY NAME |
: |
PERKINELMER SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
PERKINELMER
SINGAPORE PTE LTD (20/10/2008) |
|
INCORPORATION DATE |
: |
14/10/1997 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
80, RAFFLES PLACE, 32-01, UOB PLAZA,
048624, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
28, AYER RAJAH CRESCENT, 08-01, 139959,
SINGAPORE. |
|
TEL.NO. |
: |
65-68681688/68681660 |
|
FAX.NO. |
: |
65-67796567 |
|
WEB SITE |
: |
WWW.PERKINELMER.COM |
|
CONTACT PERSON |
: |
JOHN LEO HEALY ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE AND SERVICE OF ENGINEERING AND
SCIENTIFIC INSTRUMENTS, ANALYTICAL INSTRUMENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
5,000,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 53,752,003.00 |
|
SALES |
: |
SGD 957,401,000 [2017] |
|
NET WORTH |
: |
SGD 372,842,000 [2017] |
|
STAFF STRENGTH |
: |
340 [2017] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacture and service of engineering and scientific instruments,
analytical instruments.
The immediate holding company of the Subject
is PERKINELMER INTERNATIONAL C.V., a company incorporated in NETHERLANDS.
The ultimate holding company of the Subject
is PERKINELMER, INC., a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
27/10/2017 |
SGD 53,752,003.00 |
The major shareholder(s) of the Subject are shown
as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PERKINELMER INTERNATIONAL C.V. |
LIJNDONK, 256, 4825, BG BREDA NETHERLANDS |
T03UF1726 |
5,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
PERKIN ELMER (INDIA) PRIVATE LIMITED |
- |
100.00 |
01/01/2017 |
|
|
CHINA |
PERKIN ELMER MANAGEMENT (SHANGHAI) CO.LTD |
- |
100.00 |
01/01/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TAY SEOW WAH |
|
Address |
: |
19, COMPASSVALE ROAD, 13-18, THE LUXURIE,
544753, SINGAPORE. |
|
IC / PP No |
: |
S1618139J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/12/2011 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
199707113D |
PERKINELMER SINGAPORE PTE. LTD. |
Director |
30/12/2011 |
0.00 |
SGD121,028,000.00 |
2017 |
- |
27/10/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
JOHN LEO HEALY |
|
Address |
: |
940, WINTER STREET, WALTHAM, MASSACHUSETTS,
02451, UNITED STATES. |
|
IC / PP No |
: |
210450839 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
01/09/2004 |
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 |
199707113D |
PERKINELMER SINGAPORE PTE. LTD. |
Director |
01/09/2004 |
0.00 |
SGD121,028,000.00 |
2017 |
- |
27/10/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
DAISY AUYEUNG YIK YAN |
|
Address |
: |
11, LEEDON HEIGHTS, 29-32, D'LEEDON,
267955, SINGAPORE. |
|
IC / PP No |
: |
S2626105H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/06/2010 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
199707113D |
PERKINELMER SINGAPORE PTE. LTD. |
Director |
04/06/2010 |
0.00 |
SGD121,028,000.00 |
2017 |
- |
27/10/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
JOHN LEO HEALY |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
CHEW BEE LENG |
|
IC / PP No |
: |
S7036104C |
|
|
Address |
: |
609, BEDOK RESERVOIR ROAD, 08-644, EUNOS
RAINBOW, 470609, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
MARIAN HO WUI MEE |
|
IC / PP No |
: |
S1787009B |
|
|
Address |
: |
9, KENG CHIN ROAD, 08-04, BELLERIVE, 258711,
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 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 |
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 |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
340 |
340 |
340 |
340 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture and
service of engineering and scientific instruments, analytical
instruments.
Th Subject Develops, manufactures and markets analytical instruments for
chromatography, proteomics, molecular spectroscopy and other applications.
The Subject refused to disclose further information on its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68681688/68681660 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
28, AYER RAJAH CRESCENT NO 08-01 |
|
Current Address |
: |
28, AYER RAJAH CRESCENT, 08-01, 139959,
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 |
: |
Increased |
[ |
2012 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
32.46% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
34.32% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.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 |
[ |
45 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
The Subject's management was quite efficient in handling its debtors. The Subject's
debtors days were at an acceptable range, thus the risk of its debts turning
bad was minimised. The Subject had a favourable creditors' ratio where the
Subject could be taking advantage of the cash discounts and also wanting to
maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
2.03 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.68 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 |
[ |
21,927.50 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 : |
||||||
|
Generally, the Subject's performance has
improved with higher turnover and profit. The Subject was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the Subject should be able to repay its
short term obligations. 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
: 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 : |
MANUFACTURING |
|
In the third quarter of 2015, manufacturing
output contracted by 6.2%, extending the 4.8% decline in the previous
quarter. The contraction was mainly due to a fall in the output of the
transport engineering and electronics clusters. Although the chemicals and
biomedical manufacturing clusters saw higher output, it was not sufficient to
offset the decline in output in the other clusters. |
|
|
In the chemicals cluster, output increased
by 3.7% in the third quarter of 2015, with all segments, except for the other
chemical products segment, posting output gains. In particular, growth was
led by the specialty chemicals and petrochemicals segments, which grew by
7.2% and 2.0% respectively, on the back of capacity expansions. Growth was
further supported by the petroleum segment, which grew by 4.1%. |
|
|
Besides, output of the biomedical
manufacturing cluster grew by 1.3% in the third quarter of 2015, supported by
a robust expansion in the medical technology segment (17%), which came on the
back of higher export demand for medical devices and supplies. On the other
hand, the pharmaceuticals segment fell by 2.5% due to a different product mix
which resulted in a lower volume of active pharmaceutical ingredients
produced. |
|
|
In the third quarter of 2015, the general
manufacturing industries shrank by 2.9%, with all segments within the cluster
registering declines in output. The food, beverages & tobacco segment
contracted by 3.6 % due to lower export demand. At the same time, the output
of the miscellaneous industries and printing segments declined by 1.9% and
4.8% respectively. The weak performance of the miscellaneous industries was
due to lower output in construction-related products, such as metal doors,
windows, grilles & gratings and wooden furniture & fixtures. |
|
|
Moreover, the precision engineering cluster
contracted 7.6% in the third quarter of 2015. In particular, the machinery
& systems segment shrank by 8.6%, weighed down by a lower volume of
mechanical engineering work, as well as lower production of process control
equipment. In addition, the semiconductor equipment manufacturing firms in
the segment were affected by a slowdown in global demand. The precision
modules & components segment contracted by 6.3% due to a fall in the
production of industrial rubber and fabricated metal products. |
|
|
Output in the electronics cluster fell by
9.2% in the third quarter of 2015, with all segments, except the other
electronic modules & components segment, recording lower output. The
semiconductors, computer peripherals and data storage segments posed the
biggest drag on the cluster, contracting by 12%, 22% and 5.4% respectively.
The poor performance of the semiconductors segment could be attributed to
weak global semiconductor demand due to the softening of the PC and mobility
devices markets. On the other hand, the other electronic modules &
components segment recorded output growth of 44% on the back of an expansion
in capacity and higher demand for components used in communication devices. |
|
|
The transport engineering cluster posted a
sharp 16% contraction in the third quarter of 2015. This was largely because
of a 24% fall in the output of the marine & offshore engineering segment
which had come on the back of a lower level of rig building and ship building
activities. On the other hand, the aerospace segment expanded by 5.2%,
largely due to a low base effect. |
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
PERKINELMER SINGAPORE PTE. LTD. |
|
Financial Year End |
2017-01-01 |
2016-01-03 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
957,401,000 |
949,950,000 |
|
---------------- |
---------------- |
|
|
Total Turnover |
957,401,000 |
949,950,000 |
|
Costs of Goods Sold |
(607,647,000) |
(634,042,000) |
|
---------------- |
---------------- |
|
|
Gross Profit |
349,754,000 |
315,908,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
131,559,000 |
99,617,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
131,559,000 |
99,617,000 |
|
Taxation |
(10,531,000) |
(6,990,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
121,028,000 |
92,627,000 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
280,075,000 |
222,948,000 |
|
---------------- |
---------------- |
|
|
As restated |
280,075,000 |
222,948,000 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
401,103,000 |
315,575,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(55,000,000) |
(35,500,000) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
346,103,000 |
280,075,000 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
6,000 |
8,000 |
|
---------------- |
---------------- |
|
|
6,000 |
8,000 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
3,158,000 |
3,158,000 |
|
AMORTIZATION |
12,401,000 |
9,440,000 |
|
---------------- |
---------------- |
|
|
15,559,000 |
12,598,000 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
PERKINELMER SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
9,873,000 |
10,893,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
13,367,000 |
13,367,000 |
|
Others |
377,000 |
375,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
13,744,000 |
13,742,000 |
|
Goodwill on consolidation |
1,439,000 |
1,439,000 |
|
Intellectual property and license rights |
63,199,000 |
15,664,000 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
64,638,000 |
17,103,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
88,255,000 |
41,738,000 |
|
Stocks |
113,786,000 |
130,561,000 |
|
Contract work-in-progress |
3,798,000 |
3,848,000 |
|
Trade debtors |
145,739,000 |
144,872,000 |
|
Other debtors, deposits & prepayments |
3,590,000 |
9,726,000 |
|
Amount due from holding company |
1,811,000 |
4,000 |
|
Amount due from subsidiary companies |
19,532,000 |
15,784,000 |
|
Amount due from related companies |
98,539,000 |
70,504,000 |
|
Cash & bank balances |
84,179,000 |
56,988,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
470,974,000 |
432,287,000 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
559,229,000 |
474,025,000 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
57,039,000 |
77,227,000 |
|
Other creditors & accruals |
13,709,000 |
14,682,000 |
|
Hire purchase & lease creditors |
24,000 |
31,000 |
|
Amounts owing to holding company |
7,431,000 |
5,110,000 |
|
Amounts owing to subsidiary companies |
7,006,000 |
3,699,000 |
|
Amounts owing to related companies |
55,602,000 |
41,135,000 |
|
Provision for taxation |
7,921,000 |
6,844,000 |
|
Other liabilities |
27,112,000 |
3,559,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
175,844,000 |
152,287,000 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
295,130,000 |
280,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
383,385,000 |
321,738,000 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
53,752,000 |
53,752,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
53,752,000 |
53,752,000 |
|
Exchange equalisation/fluctuation reserve |
(27,013,000) |
(19,420,000) |
|
Retained profit/(loss) carried forward |
346,103,000 |
280,075,000 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
319,090,000 |
260,655,000 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
372,842,000 |
314,407,000 |
|
Lease obligations |
46,000 |
71,000 |
|
Deferred taxation |
3,271,000 |
245,000 |
|
Others |
7,226,000 |
7,015,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
10,543,000 |
7,331,000 |
|
---------------- |
---------------- |
|
|
383,385,000 |
321,738,000 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
PERKINELMER SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
84,179,000 |
56,988,000 |
|
Net Liquid Funds |
84,179,000 |
56,988,000 |
|
Net Liquid Assets |
181,344,000 |
149,439,000 |
|
Net Current Assets/(Liabilities) |
295,130,000 |
280,000,000 |
|
Net Tangible Assets |
318,747,000 |
304,635,000 |
|
Net Monetary Assets |
170,801,000 |
142,108,000 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
- |
99,625,000 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
147,124,000 |
112,223,000 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
70,000 |
102,000 |
|
Total Liabilities |
186,387,000 |
159,618,000 |
|
Total Assets |
559,229,000 |
474,025,000 |
|
Net Assets |
383,385,000 |
321,738,000 |
|
Net Assets Backing |
372,842,000 |
314,407,000 |
|
Shareholders' Funds |
372,842,000 |
314,407,000 |
|
Total Share Capital |
53,752,000 |
53,752,000 |
|
Total Reserves |
319,090,000 |
260,655,000 |
|
GROWTH RATIOS (Year on Year) |
||
|
Revenue |
0.78 |
0.94 |
|
Proft/(Loss) Before Tax |
32.06 |
29.92 |
|
Proft/(Loss) After Tax |
30.66 |
29.23 |
|
Total Assets |
17.97 |
9.28 |
|
Total Liabilities |
16.77 |
(8.47) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.48 |
0.37 |
|
Liquid Ratio |
2.03 |
1.98 |
|
Current Ratio |
2.68 |
2.84 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
45 |
52 |
|
Debtors Ratio |
56 |
56 |
|
Creditors Ratio |
34 |
44 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0 |
0 |
|
Liabilities Ratio |
0.50 |
0.51 |
|
Times Interest Earned Ratio |
21,927.50 |
12,453.13 |
|
Assets Backing Ratio |
5.93 |
5.67 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
13.74 |
10.49 |
|
Net Profit Margin |
12.64 |
9.75 |
|
Return On Net Assets |
34.32 |
30.96 |
|
Return On Capital Employed |
29.36 |
29.40 |
|
Return On Shareholders' Funds/Equity |
32.46 |
29.46 |
|
Dividend Pay Out Ratio (Times) |
0.45 |
0.38 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.47 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.92 |
|
SGD |
1 |
INR 47.73 |
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.