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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497095

Report Date :

17.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

THERMO FISHER SCIENTIFIC PTE. LTD.

 

 

Formerly Known As :

SCIENTIFIC PRODUCTS (ASIA PACIFIC) PTE. LTD

 

 

Registered Office :

33, Marsiling Ind Estate Road 3, 07-06, 739256

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

01.08.2005

 

 

Com. Reg. No.:

200510503Z

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the trading of laboratory equipment, chemicals, supplies

 

 

No. of Employees :

Not Available

 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

200510503Z

COMPANY NAME

:

THERMO FISHER SCIENTIFIC PTE. LTD.

FORMER NAME

:

SCIENTIFIC PRODUCTS (ASIA PACIFIC) PTE. LTD. (29/04/2008)

INCORPORATION DATE

:

01/08/2005

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

33, MARSILING IND ESTATE ROAD 3, 07-06, 739256, SINGAPORE.

BUSINESS ADDRESS

:

33 MARSILING INDUSTRIAL ESTATE ROAD 3 #07-06, 739256, SINGAPORE.

TEL.NO.

:

65-68618638

FAX.NO.

:

65-68619391

WEB SITE

:

/WWW.THERMOFISHER.COM

CONTACT PERSON

:

CHONG CHIN CHOY ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF LABORATORY EQUIPMENT, CHEMICALS, SUPPLIES

ISSUED AND PAID UP CAPITAL

:

1,955,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,955,000.00

SALES

:

USD 53,005,517 [2016]

NET WORTH

:

USD 9,336,312 [2016]

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading of laboratory equipment, chemicals, supplies.

 

The immediate holding company of the Subject is DIONEX CORPORATION, a company incorporated in UNITED STATES.

The ultimate holding company of the Subject is THERMO FISHER SCIENTIFIC INC., a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

13/03/2018

USD 1,955,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

DIONEX CORPORATION

1675, SOUTH STATE STREET, SUITE B DOVER, DE 19901 UNITED STATES

T03UF1099

1,955,000.00

100.00

---------------

------

1,955,000.00

100.00

============

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

KEVIN CHUA CHYE HENG

Address

:

33, MARSILING IND ESTATE ROAD 3, 07-06, 739256, SINGAPORE.

IC / PP No

:

S1735048Z

Nationality

:

SINGAPOREAN

Date of Appointment

:

31/12/2014


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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200510503Z

THERMO FISHER SCIENTIFIC PTE. LTD.

Director

31/12/2014

0.00

-

USD6,919,289.00

2016

-

13/03/2018

 

DIRECTOR 2

 

Name Of Subject

:

CHONG CHIN CHOY

Address

:

33, MARSILING IND ESTATE ROAD 3, 07-06, 739256, SINGAPORE.

IC / PP No

:

S2580506B

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/06/2016



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200104491K

LIFE TECHNOLOGIES HOLDINGS PTE. LTD.

Director

03/06/2016

0.00

-

USD172,085,589.00

2016

-

10/08/2017

2

200510503Z

THERMO FISHER SCIENTIFIC PTE. LTD.

Director

03/06/2016

0.00

-

USD6,919,289.00

2016

-

13/03/2018

 

DIRECTOR 3

 

Name Of Subject

:

GOH SU JIAN @ WU SHUJUAN

Address

:

513, YIO CHU KANG ROAD, 03-41, THE CALROSE, 787067, SINGAPORE.

IC / PP No

:

S7538209Z

Nationality

:

SINGAPOREAN

Date of Appointment

:

05/09/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200510503Z

THERMO FISHER SCIENTIFIC PTE. LTD.

Director

05/09/2017

0.00

-

USD6,919,289.00

2016

-

13/03/2018

 

DIRECTOR 4

 

Name Of Subject

:

RAVI SHANKAR SHASTRI

Address

:

38, CORONATION ROAD WEST, 01-01, ASTRID MEADOWS, 269257, SINGAPORE.

IC / PP No

:

S7187568G

Nationality

:

INDIAN

Date of Appointment

:

26/02/2016



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200104491K

LIFE TECHNOLOGIES HOLDINGS PTE. LTD.

Director

19/05/2017

0.00

-

USD172,085,589.00

2016

-

10/08/2017

2

200510503Z

THERMO FISHER SCIENTIFIC PTE. LTD.

Director

26/02/2016

0.00

-

USD6,919,289.00

2016

-

13/03/2018



 

MANAGEMENT

 

 

 

1)

Name of Subject

:

CHONG CHIN CHOY

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

PECK JEN JEN

IC / PP No

:

S7719162C

Address

:

38, BEACH ROAD, 29-11, SOUTH BEACH TOWER, 189767, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank.

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES


The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

LABORATORY EQUIPMENT, CHEMICALS, SUPPLIES

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of laboratory equipment, chemicals, supplies.

The Subject sells lab, scientific equipments and accessories.

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

:

65 64999999

Current Telephone Number

:

65-68618638

Match

:

NO

Address Provided by Client

:

33 MARSILING INDUSTRIAL ROAD 3 #07-06, SINGAPORE 739256

Current Address

:

33 MARSILING INDUSTRIAL ESTATE ROAD 3 #07-06, 739256, SINGAPORE.

Match

:

NO

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.

The contact number provided is not answered. The address provided is incomplete.

The Subject refused to disclose its number of employees and bankers.

 

FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

2014 - 2016

]

Profit/(Loss) Before Tax

:

Increased

[

2014 - 2016

]

Return on Shareholder Funds

:

Favourable

[

74.11%

]

Return on Net Assets

:

Favourable

[

82.55%

]

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

[

11 Days

]

Debtor Ratio

:

Unfavourable

[

69 Days

]

Creditors Ratio

:

Favourable

[

2 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.05 Times

]

Current Ratio

:

Unfavourable

[

1.11 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

[

96.20 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 : STABLE

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2013

2014

2015

2016

2017*

 

Population (Million)

5.40

5.47

5.54

5.61

5.61

Gross Domestic Products ( % )

5.1

3.9

2.2

2.4

3.6

Consumer Price Index

2.4

1.0

(0.5)

(0.5)

0.6

Total Imports (Million)

466,762.0

463,779.1

407,767.9

398,372.0

403,300.0

Total Exports (Million)

513,391.0

518,922.7

476,285.4

468,552.0

466,900.0

 

Unemployment Rate (%)

1.9

1.9

1.9

2.1

-

Tourist Arrival (Million)

15.46

15.01

15.23

16.28

-

Hotel Occupancy Rate (%)

86.3

85.5

84.0

83.1

84.7

Cellular Phone Subscriber (Million)

1.97

1.98

1.99

-

-

 

Registration of New Companies (No.)

37,288

41,589

34,243

35,227

37,395

Registration of New Companies (%)

9.8

11.5

(17.7)

2.9

6.2

Liquidation of Companies (No.)

17,369

18,767

21,384

23,218

22,379

Liquidation of Companies (%)

(5.3)

8.0

13.9

8.6

(3.6)

 

Registration of New Businesses (No.)

22,893

35,773

28,480

27,120

22,148

Registration of New Businesses (%)

1.70

56.30

(20.39)

(4.78)

(18.33)

Liquidation of Businesses (No.)

22,598

22,098

26,116

35,866

24,344

Liquidation of Businesses (%)

0.5

(2.2)

18.2

37.3

(32.1)

 

Bankruptcy Orders (No.)

1,992

1,757

1,776

1,797

1,638

Bankruptcy Orders (%)

14.0

(11.8)

1.0

1.2

(8.9)

Bankruptcy Discharges (No.)

2,584

3,546

3,499

4,359

2,030

Bankruptcy Discharges (%)

37.4

37.2

(1.3)

24.6

(53.4)

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

1.78

4.29

3.04

-

-

Fish Supply & Wholesale

(3.8)

(8.6)

(8.5)

(9.9)

-

 

Manufacturing #

Food, Beverages & Tobacco

97.9

99.4

100.0

103.7

110.3

Textiles

119.5

102.7

100.0

92.4

84.4

Wearing Apparel

334.1

212.6

100.0

83.4

88.2

Leather Products & Footwear

122.0

106.5

100.0

88.8

79.0

Wood & Wood Products

103.0

107.2

100.0

95.0

92.9

Paper & Paper Products

104.4

104.5

100.0

97.3

96.1

Printing & Media

113.8

105.968

100.0

85.1

73.1

Crude Oil Refineries

100.7

92.2

100.0

104.2

113.5

Chemical & Chemical Products

88.4

96.7

100.0

98.9

105.3

Pharmaceutical Products

101.421

109.4

100.0

113.8

96.0

Rubber & Plastic Products

109.497

109.2

100.0

91.4

93.7

Non-metallic Mineral

107.4

90.759

100.0

89.8

72.9

Basic Metals

77.2

99.3

100.0

106.2

108.3

Fabricated Metal Products

107.5

107.757

100.0

93.8

91.3

Machinery & Equipment

109.1

118.2

100.0

80.8

86.1

Electrical Machinery

87.4

97.871

100.0

101.5

111.7

Electronic Components

105.0

105.6

100.0

114.1

151.4

Transport Equipment

111.1

106.68

100.0

101.0

99.5

 

Construction

25.40

22.00

-

-

-

Real Estate

88.5

145.1

-

-

-

 

Services

Electricity, Gas & Water

6.70

6.50

-

-

-

Transport, Storage & Communication

9.80

14.20

-

-

-

Finance & Insurance

3.30

6.00

-

7.40

-

Government Services

6.50

6.30

-

-

-

Education Services

3.10

5.98

-

2.40

-

 

* Estimate / Preliminary

# Based on Index of Industrial Production (2015 = 100)

 



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale & retail trade sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the preceding quarter. Growth was supported by both the wholesale trade and retail trade segments. The wholesale trade segment was boosted by an increase in both domestic and foreign wholesale trade sales volume. In particular, the domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in the previous quarter. The strong performance in domestic wholesale trade was due to a surge in the sales of petroleum and petroleum products (14%), chemicals & chemical products (39%) and telecommunications & computers (18%).

Similarly, the foreign wholesale trade index rose by 10% in the third quarter of 2015, accelerating from the 6.9% rise in the previous quarter. Growth was driven by improvements in the sales of petroleum & petroleum products (21%), metals, timber & construction materials (10%) and general wholesale trade (8.8%).

Overall retail trade sales volume also recorded resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth was supported by a surge in the volume of motor vehicle sales (44%), which was in turn due to a substantial increase in the supply of Certificate of Entitlements. Excluding motor vehicles, retail sales volume increased at a much slower pace of 0.7% over the same period. The increase in retail sales volume (excluding motor vehicles) was due to improved non-discretionary goods sales. For instance, the sales of medical goods & toiletries and department store goods rose by 8.1% and 3.6% respectively.

According to the Retail News Asia, Food and beverage has overtaken fashion as the primary driver of demand for retail real estate in Singapore. Despite declining retail sales and consumer spending, the prime retail sector remained in good shape during the third quarter 2015.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

 

 

CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2005, the Subject is a Private Limited company, focusing on trading of laboratory equipment, chemicals, supplies. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of SGD 1,955,000 allows the Subject to expand its business more comfortably. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 9,336,312, the Subject should be able to maintain its business in the near terms.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject promptly.

 

 

Financials

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

THERMO FISHER SCIENTIFIC PTE. LTD.

 

Financial Year End

2016-12-31

2015-12-31

2014-12-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

53,005,517

22,354,294

8,181,524

----------------

----------------

----------------

Total Turnover

53,005,517

22,354,294

8,181,524

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

7,627,135

1,526,511

1,006,209

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

7,627,135

1,526,511

1,006,209

Taxation

(707,846)

(342,357)

-

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

6,919,289

1,184,154

1,006,209

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(694,524)

(1,878,678)

(2,884,887)

----------------

----------------

----------------

As restated

(694,524)

(1,878,678)

(2,884,887)

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

6,224,765

(694,524)

(1,878,678)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

6,224,765

(694,524)

(1,878,678)

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Loan from holding company

-

-

6,617

Others

80,121

40,436

-

----------------

----------------

----------------

80,121

40,436

6,617

=============

=============

=============

DEPRECIATION (as per notes to P&L)

505,776

429,298

30,377

AMORTIZATION

129,607

118,806

-

----------------

----------------

----------------

Total Amortization And Depreciation

635,383

548,104

30,377

=============

=============

=============

 

BALANCE SHEET

 

THERMO FISHER SCIENTIFIC PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

1,393,785

1,483,205

110,038

----------------

----------------

----------------

INTANGIBLE ASSETS

Goodwill on consolidation

4,793,001

4,922,608

-

----------------

----------------

----------------

TOTAL INTANGIBLE ASSETS

4,793,001

4,922,608

-

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

6,186,786

6,405,813

110,038

CURRENT ASSETS

Stocks

1,618,432

1,371,800

-

Trade debtors

10,029,725

3,389,036

55,024

Other debtors, deposits & prepayments

758,365

404,630

53,029

Amount due from related companies

19,337,715

6,287,588

2,504,159

Cash & bank balances

1,668,579

1,112,550

2,041,300

----------------

----------------

----------------

TOTAL CURRENT ASSETS

33,412,816

12,565,604

4,653,512

----------------

----------------

----------------

TOTAL ASSET

39,599,602

18,971,417

4,763,550

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

265,017

174,628

36,270

Other creditors & accruals

5,575,733

4,209,760

864,930

Deposits from customers

3,020

31,939

-

Amounts owing to holding company

-

-

1,813,595

Amounts owing to related companies

23,419,581

11,379,298

596,779

Provision for taxation

899,738

371,139

-

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

30,163,089

16,166,764

3,311,574

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

3,249,727

(3,601,160)

1,341,938

----------------

----------------

----------------

LONG TERM LIABILITIES

Deferred taxation

100,201

86,775

-

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

100,201

86,775

-

----------------

----------------

----------------

TOTAL NET ASSETS

9,336,312

2,717,878

1,451,976

=============

=============

=============

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

1,955,000

1,955,000

1,955,000

----------------

----------------

----------------

TOTAL SHARE CAPITAL

1,955,000

1,955,000

1,955,000

RESERVES

Share premium

1,156,547

1,457,402

1,375,654

Retained profit/(loss) carried forward

6,224,765

(694,524)

(1,878,678)

----------------

----------------

----------------

TOTAL RESERVES

7,381,312

762,878

(503,024)

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

9,336,312

2,717,878

1,451,976

=============

=============

=============

 

FINANCIAL RATIO

 

THERMO FISHER SCIENTIFIC PTE. LTD.

 

TYPES OF FUNDS

Cash

1,668,579

1,112,550

2,041,300

Net Liquid Funds

1,668,579

1,112,550

2,041,300

Net Liquid Assets

1,631,295

(4,972,960)

1,341,938

Net Current Assets/(Liabilities)

3,249,727

(3,601,160)

1,341,938

Net Tangible Assets

4,543,311

(2,204,730)

1,451,976

Net Monetary Assets

1,531,094

(5,059,735)

1,341,938

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

7,707,256

1,566,947

1,012,826

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

8,342,639

2,115,051

1,043,203

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

Total Liabilities

30,263,290

16,253,539

3,311,574

Total Assets

39,599,602

18,971,417

4,763,550

Net Assets

9,336,312

2,717,878

1,451,976

Net Assets Backing

9,336,312

2,717,878

1,451,976

Shareholders' Funds

9,336,312

2,717,878

1,451,976

Total Share Capital

1,955,000

1,955,000

1,955,000

Total Reserves

7,381,312

762,878

(503,024)

GROWTH RATIOS (Year on Year) (%)

Revenue

137.12

173.23

-

Proft/(Loss) Before Tax

399.64

51.71

-

Proft/(Loss) After Tax

484.32

17.68

-

Total Assets

108.73

298.26

-

Total Liabilities

86.20

390.81

-

LIQUIDITY (Times)

Cash Ratio

0.06

0.07

0.62

Liquid Ratio

1.05

0.69

1.41

Current Ratio

1.11

0.78

1.41

WORKING CAPITAL CONTROL (Days)

Stock Ratio

11

22

0

Debtors Ratio

69

55

2

Creditors Ratio

2

3

2

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

Liabilities Ratio

3.24

5.98

2.28

Times Interest Earned Ratio

96.20

38.75

153.06

Assets Backing Ratio

2.32

(1.13)

0.74

PERFORMANCE RATIO (%)

Operating Profit Margin

14.39

6.83

12.30

Net Profit Margin

13.05

5.30

12.30

Return On Net Assets

82.55

57.65

69.76

Return On Capital Employed

54.16

20.28

69.76

Return On Shareholders' Funds/Equity

74.11

43.57

69.30

Dividend Pay Out Ratio (Times)

0

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0




 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.87

UK Pound

1

INR 90.49

Euro

1

INR 79.91

SGD

1

INR 49.39

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

KET

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.