|
|
|
MIRA INFORM REPORT
|
Report No. : |
485496 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
YAMAZAKI MAZAK SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
21, Joo Koon Circle, Jurong, 629053 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation : |
02.09.1988 |
|
|
|
|
Com. Reg. No.: |
198803160-G |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally
engaged in manufacture and repair of machinery and machine-tools - metal
cutting types. |
|
|
|
|
No. of Employees : |
280 [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 : |
-- |
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. |
: |
198803160-G |
|
COMPANY NAME |
: |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
02/09/1988 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY
SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
21, JOO KOON CIRCLE, JURONG,
629053, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
21 JOO KOON CIRCLE, JURONG,
629053, SINGAPORE. |
|
TEL.NO. |
: |
65-68618760 |
|
FAX.NO. |
: |
65-68613276 |
|
WEB SITE |
: |
WWW.MAZAK.COM.SG |
|
CONTACT PERSON |
: |
TOSHIMITSU KITO ( MANAGING
DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE AND REPAIR OF
MACHINERY AND MACHINE-TOOLS - METAL CUTTING TYPES |
|
ISSUED AND PAID UP CAPITAL |
: |
22,200,000.00 ORDINARY
SHARE, OF A VALUE OF SGD 22,200,000.00 |
|
SALES |
: |
SGD 165,180,894 [2016] |
|
NET WORTH |
: |
SGD 168,681,034 [2016] |
|
STAFF STRENGTH |
: |
280 [2017] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
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 repair of machinery and
machine-tools - metal cutting types.
The immediate holding company
of the Subject is YAMAZAKI MAZAK NEDERLAND B V, a company incorporated in
NETHERLANDS.
The ultimate holding company
of the Subject is YAMAZAKI MAZAK TRADING CORPORATION, a company incorporated in
JAPAN.
Share Capital
History
|
Date |
Issue & Paid Up Capital |
|
20/07/2017 |
SGD 22,200,000.00 |
The major shareholder(s) of
the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
YAMAZAKI MAZAK NEDERLAND B V |
PEPPELKADE 54, NL-3992, AK
HOUTEN NETHERLANDS |
S88UF0387 |
22,200,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
22,200,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other
companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDONESIA |
PT. YAMAZAKI MAZAK |
- |
99.00 |
31/03/2016 |
|
|
VIETNAM |
YAMAZAKI MAZAK VIETNAM
COMPANY LIMITED |
- |
100.00 |
31/03/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TOSHIHARU SHIMIZU |
|
Address |
: |
188, KENG LEE ROAD, 13-04,
ROCHELLE AT NEWTON, 308414, SINGAPORE. |
|
IC / PP No |
: |
G3107415R |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
19/01/2015 |
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 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
19/01/2015 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
TOMOHISA YAMAZAKI |
|
Address |
: |
61-4, NANZAN, HIROKOJI-CHO,
SHOWA-KU, NAGOYA-CITY, AICHI-PREF, JAPAN. |
|
IC / PP No |
: |
MM3623909 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
26/04/1996 |
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 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
26/04/1996 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
SHIGEKI OSAWA |
|
Address |
: |
38, SHANGHAI ROAD, 12-03,
THE MERCURY, 248201, SINGAPORE. |
|
IC / PP No |
: |
G3021937L |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
25/09/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of
Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
25/09/2014 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
CHONG KWAI SOON |
|
Address |
: |
717, CLEMENTI WEST STREET 2,
19-107, 120717, SINGAPORE. |
|
IC / PP No |
: |
S1525592G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/09/2009 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of
Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
25/09/2009 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
DIRECTOR 5
|
Name Of Subject |
: |
AKIMITSU NAGAE |
|
Address |
: |
2-26-1, ASAMIYA-CHO,
KASUGAI-CITY, AICHI-PREF, JAPAN. |
|
IC / PP No |
: |
TH2135107 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
25/09/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of
Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
25/09/2014 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
DIRECTOR 6
|
Name Of Subject |
: |
MASAZUMI NAKANISHI |
|
Address |
: |
1-227, YONO, OGUCHI-CHO,
NIWAGUN, AICHI-PREF, 480-0146, JAPAN. |
|
IC / PP No |
: |
TH5965948 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
07/06/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of
Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
198803160G |
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
Director |
07/06/2016 |
0.00 |
SGD4,459,497.00 |
2016 |
- |
20/07/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TOSHIHARU SHIMIZU |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
TOSHIMITSU KITO |
|
Position |
: |
MANAGING DIRECTOR |
AUDITOR
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
KELLY HAN TOCK MUI |
|
IC / PP No |
: |
S1694077A |
|
|
Address |
: |
77, ROBINSON ROAD, 13-00, ROBINSON
77, 068896, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
27397 |
||||||||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
11/11/2011 |
|||||||||||
|
Solicitor Ref |
: |
AM-INS-H3-79966-11-YL |
|||||||||||
|
Solicitor Firm |
: |
VISION LAW LLC |
|||||||||||
|
Plaintiff |
: |
NG LAY HOE |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Hearing Date |
: |
N/A |
|||||||||||
|
Amount Claimed |
: |
4060.20 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
TORT - NEGLIGENCE |
|||||||||||
|
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 |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
280 |
280 |
250 |
250 |
250 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture and repair
of machinery and machine-tools - metal cutting types.
The Subject is engaged in the production of a variety of CNC turning machine centers
- from raw materials to finished machine.
The Subject engages in the constant research and development of original
products, technology and software by embracing machining technology and
information technology.
CURRENT INVESTIGATION
|
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
68621131 |
|
Current Telephone Number |
: |
65-68618760 |
|
Match |
: |
NO |
|
Address Provided by Client |
: |
21, JOO KOON CIRCLE, JURONG 629053
|
|
Current Address |
: |
21 JOO KOON CIRCLE, JURONG,
629053, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The contact number provided is not answered.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
2.64% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
2.51% |
] |
|
|
The fluctuating turnover
reflects the fierce competition among the existing and new market players.The
dip in profit could be due to the stiff market competition which reduced the Subject's
profit margin. 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 |
: |
Unfavourable |
[ |
69 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
60 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
The Subject could be
incurring higher holding cost. As its capital was tied up in stocks, it could
face liquidity problems. 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 |
[ |
3.58 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.21 Times |
] |
|
|
A minimum liquid ratio of 1
should be maintained by the Subject in order to assure its creditors of its
ability to meet short term obligations and the Subject was in a good liquidity
position. Thus, we believe the Subject is able to meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover
was nil as it did not pay any interest during the year. The Subject had no
gearing and hence it had virtually no financial risk. The Subject was financed
by its shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject recorded lower
profits as its turnover showed a erratic trend. The Subject's management was
unable to control its costs efficiently as its profit showed a downward trend.
The Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall financial condition
of the Subject : FAIR |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population (Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross Domestic Products ( %
) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular Phone Subscriber
(Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration of New
Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration of New Companies
(%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation of Companies
(No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration of New
Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration of New
Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation of Businesses
(No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation of Businesses
(%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal
Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages &
Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather Products &
Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood & Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper & Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing & Media |
122.8 |
113.8 |
105.968 |
100.0 |
86.9 |
|
Crude Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical & Chemical
Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical Products |
103.8 |
101.421 |
109.4 |
100.0 |
115.9 |
|
Rubber & Plastic
Products |
113.5 |
109.497 |
109.2 |
100.0 |
87.9 |
|
Non-metallic Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated Metal Products |
107.314 |
107.5 |
107.757 |
100.0 |
91.7 |
|
Machinery & Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport, Storage &
Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance & Insurance |
0.50 |
3.30 |
6.00 |
- |
- |
|
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. |
|
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
|
Financial Year End |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
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 |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
165,180,894 |
170,505,412 |
156,725,538 |
205,491,741 |
203,285,084 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
165,180,894 |
170,505,412 |
156,725,538 |
205,491,741 |
203,285,084 |
|
Costs of Goods Sold |
(141,179,268) |
(147,955,604) |
(135,018,575) |
(177,108,489) |
(176,431,215) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
24,001,626 |
22,549,808 |
21,706,963 |
28,383,252 |
26,853,869 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM
OPERATIONS |
4,042,801 |
4,314,962 |
1,132,224 |
12,011,753 |
9,690,588 |
|
SHARE OF PROFITS/(LOSSES) OF
ASSOCIATED COMPANIES |
196,868 |
31,761 |
(6,331) |
- |
853,398 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
TAXATION |
4,239,669 |
4,346,723 |
1,125,893 |
12,011,753 |
10,543,986 |
|
Taxation |
219,828 |
(837,138) |
9,689 |
(1,960,411) |
(1,660,184) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
4,459,497 |
3,509,585 |
1,135,582 |
10,051,342 |
8,883,802 |
|
Minority interests |
737 |
(665) |
1,114 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
EXTRAORDINARY ITEMS |
4,460,234 |
3,508,920 |
1,136,696 |
10,051,342 |
8,883,802 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE
TO SHAREHOLDERS |
4,460,234 |
3,508,920 |
1,136,696 |
10,051,342 |
8,883,802 |
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
|||||
|
As previously reported |
146,760,327 |
143,251,407 |
142,114,711 |
132,063,369 |
127,619,567 |
|
Prior year adjustment |
- |
- |
- |
- |
(4,440,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
146,760,327 |
143,251,407 |
142,114,711 |
132,063,369 |
123,179,567 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
151,220,561 |
146,760,327 |
143,251,407 |
142,114,711 |
132,063,369 |
|
TRANSFER TO RESERVES -
General |
2,296 |
- |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid
& proposed) |
(4,440,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED
FORWARD |
146,782,857 |
146,760,327 |
143,251,407 |
142,114,711 |
132,063,369 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per
notes to P&L) |
|||||
|
DEPRECIATION (as per notes
to P&L) |
4,214,386 |
4,671,648 |
3,216,429 |
2,866,589 |
2,903,590 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,214,386 |
4,671,648 |
3,216,429 |
2,866,589 |
2,903,590 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
|
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
40,436,623 |
41,217,242 |
43,823,188 |
21,459,500 |
14,766,649 |
|
Associated companies |
3,002,990 |
3,475,097 |
3,681,563 |
4,679,581 |
4,986,093 |
|
Deferred assets |
12,010 |
8,400 |
8,116 |
- |
- |
|
Others |
58,039 |
128,782 |
50,504 |
9,304,859 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
3,073,039 |
3,612,279 |
3,740,183 |
13,984,440 |
4,986,093 |
|
INTANGIBLE ASSETS |
|||||
|
Deferred/Expenditure carried
forward |
51,000 |
51,000 |
51,000 |
51,000 |
- |
|
Goodwill on consolidation |
- |
- |
- |
- |
51,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
51,000 |
51,000 |
51,000 |
51,000 |
51,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
43,560,662 |
44,880,521 |
47,614,371 |
35,494,940 |
19,803,742 |
|
Stocks |
24,682,023 |
21,218,875 |
28,850,751 |
26,473,686 |
28,211,097 |
|
Contract work-in-progress |
6,725,971 |
4,900,650 |
- |
- |
- |
|
Trade debtors |
27,146,550 |
32,976,367 |
31,396,057 |
52,937,424 |
51,094,861 |
|
Other debtors, deposits
& prepayments |
966,984 |
1,143,331 |
731,661 |
767,336 |
458,790 |
|
Short term deposits |
52,000,000 |
59,100,000 |
49,342,000 |
55,116,700 |
75,857,130 |
|
Amount due from holding
company |
288,679 |
231,978 |
161,432 |
1,265 |
- |
|
Amount due from related
companies |
8,726,379 |
9,084,566 |
9,291,679 |
7,704,488 |
- |
|
Amount due from associated
companies |
1,267,435 |
1,224,936 |
1,397,326 |
1,334,835 |
- |
|
Cash & bank balances |
42,304,678 |
48,217,005 |
37,555,747 |
28,547,968 |
43,263,435 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
164,108,699 |
178,097,708 |
158,726,653 |
172,883,702 |
198,885,313 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
207,669,361 |
222,978,229 |
206,341,024 |
208,378,642 |
218,689,055 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
5,055,407 |
5,247,817 |
6,181,744 |
5,324,773 |
51,594,384 |
|
Other creditors &
accruals |
2,581,392 |
4,539,466 |
6,441,474 |
11,179,306 |
4,894,075 |
|
Deposits from customers |
4,570,720 |
7,811,237 |
6,611,501 |
- |
- |
|
Amounts owing to holding
company |
22,141,812 |
27,616,426 |
15,796,409 |
18,475,273 |
- |
|
Amounts owing to related
companies |
1,512,565 |
2,935,121 |
1,401,780 |
2,068,853 |
- |
|
Amounts owing to associated
companies |
624,389 |
308,082 |
277,209 |
492,939 |
- |
|
Provision for taxation |
57,027 |
1,135,311 |
590,667 |
6,209,997 |
2,358,966 |
|
Other liabilities |
2,396,977 |
4,200,312 |
3,797,132 |
2,931,185 |
7,525,465 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
38,940,289 |
53,793,772 |
41,097,916 |
46,682,326 |
66,372,890 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
125,168,410 |
124,303,936 |
117,628,737 |
126,201,376 |
132,512,423 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
168,729,072 |
169,184,457 |
165,243,108 |
161,696,316 |
152,316,165 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
|
Exchange
equalisation/fluctuation reserve |
(304,341) |
187,273 |
(243,352) |
1,086 |
- |
|
Retained profit/(loss)
carried forward |
146,782,857 |
146,760,327 |
143,251,407 |
142,114,711 |
132,063,369 |
|
Others |
- |
- |
- |
(2,931,185) |
(3,472,502) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
146,478,516 |
146,947,600 |
143,008,055 |
139,184,612 |
128,590,867 |
|
MINORITY INTEREST |
2,518 |
3,255 |
2,590 |
3,704 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
168,681,034 |
169,150,855 |
165,210,645 |
161,388,316 |
150,790,867 |
|
Deferred taxation |
- |
- |
- |
308,000 |
359,000 |
|
Retirement benefits
provision |
48,038 |
33,602 |
32,463 |
- |
- |
|
Others |
- |
- |
- |
- |
1,166,298 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
48,038 |
33,602 |
32,463 |
308,000 |
1,525,298 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
168,729,072 |
169,184,457 |
165,243,108 |
161,696,316 |
152,316,165 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL RATIO
|
|
YAMAZAKI MAZAK SINGAPORE PTE
LTD |
|
Cash Ratio |
2.42 |
1.99 |
2.11 |
1.79 |
1.79 |
|
TYPES OF FUNDS |
|||||
|
Cash |
94,304,678 |
107,317,005 |
86,897,747 |
83,664,668 |
119,120,565 |
|
Net Liquid Funds |
94,304,678 |
107,317,005 |
86,897,747 |
83,664,668 |
119,120,565 |
|
Net Liquid Assets |
100,486,387 |
103,085,061 |
88,777,986 |
99,727,690 |
104,301,326 |
|
Net Current
Assets/(Liabilities) |
125,168,410 |
124,303,936 |
117,628,737 |
126,201,376 |
132,512,423 |
|
Net Tangible Assets |
168,678,072 |
169,133,457 |
165,192,108 |
161,645,316 |
152,265,165 |
|
Net Monetary Assets |
100,438,349 |
103,051,459 |
88,745,523 |
99,419,690 |
102,776,028 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest
& Tax (EBIT) |
0 |
4,346,723 |
1,125,893 |
12,011,753 |
10,543,986 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
8,454,055 |
9,018,371 |
4,342,322 |
14,878,342 |
13,447,576 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
38,988,327 |
53,827,374 |
41,130,379 |
46,990,326 |
67,898,188 |
|
Total Assets |
207,669,361 |
222,978,229 |
206,341,024 |
208,378,642 |
218,689,055 |
|
Net Assets |
168,729,072 |
169,184,457 |
165,243,108 |
161,696,316 |
152,316,165 |
|
Net Assets Backing |
168,681,034 |
169,150,855 |
165,210,645 |
161,388,316 |
150,790,867 |
|
Shareholders' Funds |
168,681,034 |
169,150,855 |
165,210,645 |
161,388,316 |
150,790,867 |
|
Total Share Capital |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
22,200,000 |
|
Total Reserves |
146,478,516 |
146,947,600 |
143,008,055 |
139,184,612 |
128,590,867 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
(3.12) |
8.79 |
(23.73) |
1.09 |
32.41 |
|
Proft/(Loss) Before Tax |
(2.46) |
286.07 |
(90.63) |
13.92 |
185.06 |
|
Proft/(Loss) After Tax |
27.07 |
209.06 |
(88.70) |
13.14 |
206.08 |
|
Total Assets |
(6.87) |
8.06 |
(0.98) |
(4.71) |
12.30 |
|
Total Liabilities |
(27.57) |
30.87 |
(12.47) |
(30.79) |
37.60 |
|
LIQUIDITY (Times) |
|||||
|
Liquid Ratio |
3.58 |
2.92 |
3.16 |
3.14 |
2.57 |
|
Current Ratio |
4.21 |
3.31 |
3.86 |
3.70 |
3.00 |
|
WORKING CAPITAL CONTROL
(Days) |
|||||
|
Stock Ratio |
69 |
56 |
67 |
47 |
51 |
|
Debtors Ratio |
60 |
71 |
73 |
94 |
92 |
|
Creditors Ratio |
13 |
13 |
17 |
11 |
107 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.23 |
0.32 |
0.25 |
0.29 |
0.45 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets Backing Ratio |
7.60 |
7.62 |
7.44 |
7.28 |
6.86 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.57 |
2.55 |
0.72 |
5.85 |
5.19 |
|
Net Profit Margin |
2.70 |
2.06 |
0.73 |
4.89 |
4.37 |
|
Return On Net Assets |
2.51 |
2.57 |
0.68 |
7.43 |
6.92 |
|
Return On Capital Employed |
2.51 |
2.57 |
0.68 |
7.43 |
6.92 |
|
Return On Shareholders'
Funds/Equity |
2.64 |
2.07 |
0.69 |
6.23 |
5.89 |
|
Dividend Pay Out Ratio
(Times) |
1.00 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
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 47.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.