|
|
|
MIRA
INFORM REPORT
|
Report No. : |
499951 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
LIFE TECHNOLOGIES HOLDINGS PTE. LTD. |
|
|
|
|
Formerly Known As : |
INVITROGEN SINGAPORE PTE LTD (01/10/2011)
|
|
|
|
|
Registered Office : |
33, Marsiling Ind Estate Road 3, 07-06, 739256 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
07.07.2001 |
|
|
|
|
Com. Reg. No.: |
200104491K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Manufacture, Distribution, Sales and Service of Genetically Engineered
Products and In-Vitro Diagnostic Medical Devices. |
|
|
|
|
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 : |
Excellent |
|
|
|
|
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 2014-16 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. |
: |
200104491K |
|
COMPANY NAME |
: |
LIFE TECHNOLOGIES HOLDINGS PTE. LTD. |
|
FORMER NAME |
: |
INVITROGEN SINGAPORE PTE LTD (01/10/2011) |
|
INCORPORATION DATE |
: |
07/07/2001 |
|
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 |
: |
BLOCK 33, MARSILING INDUSTRIAL ESTATE ROAD 3, 07-06, 739256,
SINGAPORE. |
|
TEL.NO. |
: |
65-68618638 |
|
FAX.NO. |
: |
65-68619391 |
|
EMAIL |
: |
ORDERS.SG@THERMOFISHER.COM |
|
WEB SITE |
: |
WWW.LIFETECHNOLOGIES.COM |
|
CONTACT PERSON |
: |
CHONG CHIN CHOY ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE, DISTRIBUTION, SALES AND SERVICE OF GENETICALLY ENGINEERED
PRODUCTS AND IN-VITRO DIAGNOSTIC MEDICAL DEVICES. |
|
ISSUED AND PAID UP CAPITAL |
: |
112,614,306.00 ORDINARY SHARE, OF A VALUE OF SGD 112,614,306.00 |
|
SALES |
: |
USD 699,100,358 [2016] |
|
NET WORTH |
: |
USD 591,395,724 [2016] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) manufacture,
distribution, sales and service of genetically engineered products and in-vitro
diagnostic medical devices.
The immediate holding company of the Subject is APPLIED BIOSYSTEMS B.V.,
a company incorporated in NETHERLANDS.
The ultimate holding company of the Subject is THEMO FISHER SCIENTIFIC,
INC.,, a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
10/08/2017 |
SGD 112,614,306.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
APPLIED BIOSYSTEMS B.V. |
HOOGEVEENENWEG 100, 2913, LV NIEUWERKERK A/D IJSSEL NETHERLANDS |
T09UF1663 |
112,614,306.00 |
100.00 |
|
--------------- |
------ |
|||
|
112,614,306.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
MR. 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 |
- |
USD1,184,154.00 |
2015 |
- |
19/06/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
ANG ENG KHOON @ HONG RONGJUN |
|
Address |
: |
271C, PUNGGOL WALK, 06-537, 823271, KUALA LANGAT, SINGAPORE. |
|
IC / PP No |
: |
S7213787F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/04/2014 |
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 |
200104491K |
LIFE TECHNOLOGIES HOLDINGS PTE. LTD. |
Director |
30/04/2014 |
0.00 |
- |
USD172,085,589.00 |
2016 |
- |
10/08/2017 |
DIRECTOR 3
|
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 |
: |
19/05/2017 |
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 |
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 |
- |
USD1,184,154.00 |
2015 |
- |
19/06/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
YEO SHO-WEN @ YANG SHUWEN |
|
Address |
: |
993, BUKIT TIMAH ROAD, 01-09, MAPLE WOODS, 589631, SINGAPORE. |
|
IC / PP No |
: |
S7910436A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
19/05/2017 |
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 |
200104491K |
LIFE TECHNOLOGIES HOLDINGS PTE. LTD. |
Director |
19/05/2017 |
0.00 |
- |
USD172,085,589.00 |
2016 |
- |
10/08/2017 |
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.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2016 |
2015 |
2014 |
2013 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
80 |
80 |
80 |
80 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture,
distribution, sales and service of genetically engineered products and in-vitro
diagnostic medical devices..
The Subject is a global life sciences company that believes in the power of
science to transform lives.
To support scientists worldwide, the Subject offers high-quality, innovative
solutions—from everyday essentials to instruments—for every lab, every
application. All from the most cited life science brands.
The Subject use high technology of machine in order to produce high quality of
products.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
29.10% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
30.27% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
Subject's management have been efficient in controlling its operating costs.
The Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
39 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
16 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
5.15 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
5.77 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 |
[ |
11,378.35 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 |
- |
7.40 |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS
|
INDUSTRY : |
MANUFACTURING |
|
In the first quarter of 2017, manufacturing output rose by 8.0%,
following the increase of 11% in the previous quarter. The robust performance
of the sector was underpinned by sustained growth in the electronics,
precision engineering and chemicals clusters. For the whole year of 2016, the
manufacturing sector grew by 3.6%, a reversal from the 5.1% contraction in
the previous year. |
|
|
The electronics cluster increased by 33% in the first quarter, largely
driven by the semiconductors segment, which saw its output surge by 50%. The
strong performance of the semiconductors segment can be attributed to the
continued recovery in global semiconductors demand, driven in turn by healthy
demand in key end markets such as smartphone and automotive applications. At
the same time, the other electronic modules & components and computer
peripherals segments grew by 9.0% and 1.2% respectively. For the full year of
2016, the electronics cluster expanded by 16%. |
|
|
Besides, biomedical manufacturing cluster contracted by 7.5% in the
first quarter of 2017. Within the cluster, the medical technology segment
recorded robust growth of 14%, supported by higher export demand for medical
instruments. However, this was outweighed by a 14% decline in the output of
the pharmaceuticals segment as the production of active pharmaceutical
ingredients fell. For 2016 as a whole, the biomedical manufacturing cluster
expanded by 14%, with both the pharmaceuticals and medical technology
segments supporting growth. |
|
|
In the first quarter of 2017, output of the transport engineering
cluster fell by 11%, dragged down by the marine & offshore engineering
(M&OE) segment. This more than offset expansions in the aerospace (10%)
and land (7.0%) segments. The aerospace segment, in particular, was supported
by an increase in demand for aircraft and engine maintenance work. For the
whole year of 2016, the transport engineering cluster contracted by 18%. |
|
|
The precision engineering cluster expanded by 19% in the first quarter
of 2017, supported by both the machinery & systems (M&S) and
precision modules & components (PMC) segments. Output in the M&S segment
rose by 24 % on the back of robust export demand for semiconductor
manufacturing equipment. Meanwhile, the PMC segment grew by 11% due to an
increase in the production of dies, moulds, tools, jigs & fixtures,
optical instruments and metal precision components. In 2016, the precision
engineering cluster’s output rose by 0.8%. |
|
|
Moreover, output of the general manufacturing industries shrank by
6.7% in the first quarter 2017. In particular, the output of the
miscellaneous industries segment fell by 12% due to a decline in the
production of fibre glass products and construction-related products &
materials. The printing segment contracted by 21%, as demand for commercial
printing remained weak and the food, beverage & tobacco segment expanded by
3.2%, supported by healthy export demand. For the full year 2016, the general
manufacturing industries contracted by 2.5%. |
|
|
The output of the chemicals cluster increased by 2.9% in the first
quarter of 2017 supported primarily by growth in the petrochemicals (9.8%)
and specialty chemicals (2.9%) segments. Growth in the petrochemicals segment
was partly the result of a low base effect as production levels a year ago
were weak due to plant maintenance shutdowns. On the other hand, the other
chemicals segment contracted to 5.6% on account of a lower level of
production of fragrances. For the full year 2016, the chemicals cluster
contracted by 0.9 per cent. This was due to a decline in the output of the
petrochemicals segment arising from major plant maintenance shutdowns, even
as the output of all other segments expanded. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 2001, the Subject is a
Private Limited company, focusing on manufacture, distribution, sales and
service of genetically engineered products and in-vitro diagnostic medical
devices.. 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. The
Subject have a strong capital position of SGD 112,614,306. We are confident
with the Subject's business and its future growth prospect. Having strong
support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment. 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 591,395,724, the Subject should be able to maintain its business in
the near terms. 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 has reached its optimum level
and is generally stable. It is saturated and very competitive. Thus, the
Subject's growth prospect is very much depends on its capacity in sustaining
its performance in the market. |
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
LIFE
TECHNOLOGIES HOLDINGS PTE. LTD. |
|
Financial Year
End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
699,100,358 |
543,829,217 |
521,900,552 |
485,408,654 |
494,206,889 |
|
Other Income |
- |
- |
- |
- |
1,556,214 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
699,100,358 |
543,829,217 |
521,900,552 |
485,408,654 |
495,763,103 |
|
Costs of Goods Sold |
(414,504,391) |
(285,679,028) |
(302,880,391) |
(256,487,242) |
(263,275,182) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
284,595,967 |
258,150,189 |
219,020,161 |
228,921,412 |
232,487,921 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
179,215,979 |
160,687,854 |
105,479,941 |
110,297,069 |
110,769,567 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
179,215,979 |
160,687,854 |
105,479,941 |
110,297,069 |
110,769,567 |
|
Taxation |
(7,130,390) |
(4,843,505) |
(7,169,174) |
(3,198,285) |
(5,216,111) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
172,085,589 |
155,844,349 |
98,310,767 |
107,098,784 |
105,553,456 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
331,420,937 |
175,576,588 |
77,265,821 |
125,167,037 |
19,613,581 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
331,420,937 |
175,576,588 |
77,265,821 |
125,167,037 |
19,613,581 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
503,506,526 |
331,420,937 |
175,576,588 |
232,265,821 |
125,167,037 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(155,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
503,506,526 |
331,420,937 |
175,576,588 |
77,265,821 |
125,167,037 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
15,752 |
21,715 |
160,501 |
569,826 |
914,924 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
15,752 |
21,715 |
160,501 |
569,826 |
914,924 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,372,882 |
2,297,872 |
2,131,648 |
2,411,128 |
2,588,428 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
2,372,882 |
2,297,872 |
2,131,648 |
2,411,128 |
2,588,428 |
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
LIFE
TECHNOLOGIES HOLDINGS PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
12,406,756 |
10,925,433 |
10,698,314 |
8,714,190 |
6,842,931 |
|
Deferred assets |
- |
527,459 |
125,115 |
1,212,619 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
527,459 |
125,115 |
1,212,619 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
12,406,756 |
11,452,892 |
10,823,429 |
9,926,809 |
6,842,931 |
|
Stocks |
74,961,104 |
69,084,708 |
60,894,089 |
56,554,761 |
50,930,749 |
|
Trade debtors |
29,738,941 |
24,164,126 |
21,696,259 |
22,711,465 |
88,599,107 |
|
Other debtors, deposits & prepayments |
8,758,511 |
6,545,700 |
7,032,641 |
5,725,668 |
5,069,789 |
|
Amount due from holding company |
150,261 |
311,868 |
- |
- |
- |
|
Amount due from related companies |
587,254,651 |
451,034,045 |
240,352,114 |
245,619,957 |
167,962,562 |
|
Cash & bank balances |
162,759 |
52,971 |
757,406 |
13,594,928 |
3,911,997 |
|
Others |
174,027 |
90,460 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
701,200,254 |
551,283,878 |
330,732,509 |
344,206,779 |
316,474,204 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
713,607,010 |
562,736,770 |
341,555,938 |
354,133,588 |
323,317,135 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
14,291,657 |
11,852,265 |
9,101,415 |
8,621,032 |
5,845,171 |
|
Other creditors & accruals |
8,320,145 |
7,825,540 |
5,751,935 |
9,379,504 |
9,070,666 |
|
Deposits from customers |
7,090,530 |
3,751,615 |
501,223 |
1,331,682 |
- |
|
Amounts owing to holding company |
14,435 |
24,370 |
- |
- |
- |
|
Amounts owing to related companies |
74,031,272 |
104,988,475 |
45,673,432 |
156,944,683 |
86,154,815 |
|
Provision for taxation |
8,554,954 |
5,914,517 |
8,218,814 |
5,385,333 |
4,590,619 |
|
Other liabilities |
9,209,949 |
9,591,136 |
9,878,747 |
8,351,749 |
5,565,380 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
121,512,942 |
143,947,918 |
79,125,566 |
190,013,983 |
111,226,651 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
579,687,312 |
407,335,960 |
251,606,943 |
154,192,796 |
205,247,553 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
592,094,068 |
418,788,852 |
262,430,372 |
164,119,605 |
212,090,484 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
|
General reserve |
1,035,414 |
514,131 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
503,506,526 |
331,420,937 |
175,576,588 |
77,265,821 |
125,167,037 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
504,541,940 |
331,935,068 |
175,576,588 |
77,265,821 |
125,167,037 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
591,395,724 |
418,788,852 |
262,430,372 |
164,119,605 |
212,020,821 |
|
Deferred taxation |
698,344 |
- |
- |
- |
69,663 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
698,344 |
- |
- |
- |
69,663 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
592,094,068 |
418,788,852 |
262,430,372 |
164,119,605 |
212,090,484 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL RATIO
|
TYPES OF FUNDS |
|||||
|
Cash |
162,759 |
52,971 |
757,406 |
13,594,928 |
3,911,997 |
|
Net Liquid Funds |
162,759 |
52,971 |
757,406 |
13,594,928 |
3,911,997 |
|
Net Liquid Assets |
504,726,208 |
338,251,252 |
190,712,854 |
97,638,035 |
154,316,804 |
|
Net Current Assets/(Liabilities) |
579,687,312 |
407,335,960 |
251,606,943 |
154,192,796 |
205,247,553 |
|
Net Tangible Assets |
592,094,068 |
418,788,852 |
262,430,372 |
164,119,605 |
212,090,484 |
|
Net Monetary Assets |
504,027,864 |
338,251,252 |
190,712,854 |
97,638,035 |
154,247,141 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
160,709,569 |
105,640,442 |
110,866,895 |
111,684,491 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
181,604,613 |
163,007,441 |
107,772,090 |
113,278,023 |
114,272,919 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
122,211,286 |
143,947,918 |
79,125,566 |
190,013,983 |
111,296,314 |
|
Total Assets |
713,607,010 |
562,736,770 |
341,555,938 |
354,133,588 |
323,317,135 |
|
Net Assets |
592,094,068 |
418,788,852 |
262,430,372 |
164,119,605 |
212,090,484 |
|
Net Assets Backing |
591,395,724 |
418,788,852 |
262,430,372 |
164,119,605 |
212,020,821 |
|
Shareholders' Funds |
591,395,724 |
418,788,852 |
262,430,372 |
164,119,605 |
212,020,821 |
|
Total Share Capital |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
86,853,784 |
|
Total Reserves |
504,541,940 |
331,935,068 |
175,576,588 |
77,265,821 |
125,167,037 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
28.55 |
4.20 |
7.52 |
(1.78) |
245.23 |
|
Proft/(Loss) Before Tax |
11.53 |
52.34 |
(4.37) |
(0.43) |
244.26 |
|
Proft/(Loss) After Tax |
10.42 |
58.52 |
(8.21) |
1.46 |
250.87 |
|
Total Assets |
26.81 |
64.76 |
(3.55) |
9.53 |
101.09 |
|
Total Liabilities |
(15.10) |
81.92 |
(58.36) |
70.73 |
104.90 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0 |
0 |
0.01 |
0.07 |
0.04 |
|
Liquid Ratio |
5.15 |
3.35 |
3.41 |
1.51 |
2.39 |
|
Current Ratio |
5.77 |
3.83 |
4.18 |
1.81 |
2.85 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
39 |
46 |
43 |
43 |
38 |
|
Debtors Ratio |
16 |
16 |
15 |
17 |
65 |
|
Creditors Ratio |
13 |
15 |
11 |
12 |
8 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.21 |
0.34 |
0.30 |
1.16 |
0.52 |
|
Times Interest Earned Ratio |
11,378.35 |
7,400.86 |
658.19 |
194.56 |
122.07 |
|
Assets Backing Ratio |
6.82 |
4.82 |
3.02 |
1.89 |
2.44 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
25.64 |
29.55 |
20.21 |
22.72 |
22.41 |
|
Net Profit Margin |
24.62 |
28.66 |
18.84 |
22.06 |
21.36 |
|
Return On Net Assets |
30.27 |
38.37 |
40.25 |
67.55 |
52.66 |
|
Return On Capital Employed |
30.27 |
38.37 |
40.25 |
67.55 |
52.66 |
|
Return On Shareholders' Funds/Equity |
29.10 |
37.21 |
37.46 |
65.26 |
49.78 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
1.45 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
|
SGD |
1 |
INR 49.44 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.