MIRA INFORM REPORT

 

 

Report No. :

501220

Report Date :

30.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

 

 

Registered Office :

6, Battery Road, 41-00, 049909

 

 

Country :

Singapore

 

 

Financials (as on) :

31.10.2016

 

 

Date of Incorporation :

13.08.1999

 

 

Com. Reg. No.:

199904761K

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is principally engaged in trading of electronic tester and measurements, equipment for life science, diagnostic and chemical analysis produced by the agilent technologies group of companies.

 

 

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

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES:

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

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

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.

:

199904761K

COMPANY NAME

:

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

FORMER NAME

:

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE LTD (13/08/1999)

INCORPORATION DATE

:

13/08/1999

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

6, BATTERY ROAD, 41-00, 049909, SINGAPORE.

BUSINESS ADDRESS

:

NO 1, YISHUN AVENUE, 7, 768923, SINGAPORE.

TEL.NO.

:

65-63771688

FAX.NO.

:

65-68228247

CONTACT PERSON

:

CHEONG CHENG HUA ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF ELECTRONIC TESTER AND MEASUREMENTS, EQUIPMENT FOR LIFE SCIENCE, DIAGNOSTIC AND CHEMICAL ANALYSIS PRODUCED BY THE AGILENT TECHNOLOGIES GROUP OF COMPANIES

ISSUED AND PAID UP CAPITAL

:

1,048,588.00 ORDINARY SHARE, OF A VALUE OF SGD 1,998,931.97

SALES

:

USD 751,746,000 [2016]

NET WORTH

:

USD 69,143,000 [2016]

STAFF STRENGTH

:

N/A

BANKER (S)

 

OVERSEA-CHINESE BANKING CORPORATION LIMITED

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

REGULAR

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 electronic tester and measurements, equipment for life science, diagnostic and chemical analysis produced by the agilent technologies group of companies.

 

The immediate holding company of the Subject is AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD., a company incorporated in SINGAPORE.

 

The ultimate holding company of the Subject is AGILENT TECHNOLOGIES INC., a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

28/02/2018

SGD 1,998,931.97

 

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

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

6, BATTERY ROAD, 41-00 049909 ,SINGAPORE

200923087N

1,048,588.00

100.00

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

------

1,048,588.00

100.00

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

YANG ENG HUAT

Address

:

119, MARSILING RISE, 06-132, 730119, SINGAPORE.

IC / PP No

:

S1745013A

Nationality

:

SINGAPOREAN

Date of Appointment

:

09/02/2004



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200923087N

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

Director

10/12/2009

0.00

-

USD2,043,373,000.00

2016

-

26/09/2017

2

199904761K

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

Director

09/02/2004

0.00

-

USD19,251,000.00

2016

-

28/02/2018

 

DIRECTOR 2

 

Name Of Subject

:

CHEONG CHENG HUA

Address

:

11A, JALAN SENYUM, 418194, SINGAPORE.

Other Address(es)

:

8, BUTTERWORTH LANE, 12-09, BUTTERWORTH 8, 439423, SINGAPORE.

IC / PP No

:

S1695015G

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/11/2013



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

200923087N

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

Director

01/11/2013

0.00

-

USD2,043,373,000.00

2016

-

26/09/2017

2

199904761K

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

Director

01/11/2013

0.00

-

USD19,251,000.00

2016

-

28/02/2018

 

DIRECTOR 3

 

Name Of Subject

:

CHARLES CHEE ENG CHUAN

Address

:

22, WILBY ROAD, 01-17, THE TESSARINA, 276306, SINGAPORE.

IC / PP No

:

S0035099J

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/08/2007



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200923087N

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

Director

10/12/2009

0.00

-

USD2,043,373,000.00

2016

-

26/09/2017

2

199904761K

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

Director

03/08/2007

0.00

-

USD19,251,000.00

2016

-

28/02/2018

 

DIRECTOR 4

 

Name Of Subject

:

CHOW WOAI SHENG

Address

:

503, SEMBAWANG ROAD, 04-29, SELETARIS, 757707, SINGAPORE.

IC / PP No

:

S7968397C

Nationality

:

MALAYSIAN

Date of Appointment

:

21/04/2015



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

200923087N

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

Director

21/04/2015

0.00

-

USD2,043,373,000.00

2016

-

26/09/2017

2

199904761K

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

Director

21/04/2015

0.00

-

USD19,251,000.00

2016

-

28/02/2018

 

DIRECTOR 5

 

Name Of Subject

:

BERNARD TAN CHONG WEE

Address

:

31, HINDHEDE WALK, 03-12, SOUTHAVEN II, 587967, SINGAPORE.

IC / PP No

:

S6829864D

Nationality

:

SINGAPOREAN

Date of Appointment

:

25/01/2017



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

200923087N

AGILENT TECHNOLOGIES SINGAPORE (INTERNATIONAL) PTE. LTD.

Director

25/01/2017

0.00

-

USD2,043,373,000.00

2016

-

26/09/2017

2

199904761K

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

Director

25/01/2017

0.00

-

USD19,251,000.00

2016

-

28/02/2018

3

993845W

FRANGO (ASIA PACIFIC) PTE LTD

Director

03/07/2008

0.00

-

MYR(14,969.00)

1998

-

25/01/2018



MANAGEMENT

 

 

1)

Name of Subject

:

CHEONG CHENG HUA

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

BDO LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

STEFANIE YUEN THIO

IC / PP No

:

S7006255J

Address

:

69A, CORONATION ROAD, 269467, SINGAPORE.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

 

 

ENCUMBRANCE (S)


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

 

 

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank 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

:

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

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

ELECTRONIC TESTER AND MEASUREMENTS, EQUIPMENT FOR LIFE SCIENCE, DIAGNOSTIC AND CHEMICAL ANALYSIS PRODUCED BY THE AGILENT TECHNOLOGIES GROUP OF COMPANIES

 

Total Number of Employees:

 

YEAR

2017

2016

2015

2014

N/A

N/A

N/A

COMPANY

n/a

260

260

260

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of electronic tester and measurements, equipment for life science, diagnostic and chemical analysis produced by the agilent technologies group of companies.

As the world's premier measurement company, Agilent offers the broadest range of innovative measurement solutions in the industry. The company's four businesses - Chemical Analysis, Life Sciences, Diagnostics and Genomics, and Electronic Measurement - provide customers with products and services that make a real difference in the lives of people everywhere.

Within life sciences & chemical analysis, its solutions are focused in the following markets; Pharmaceutical companies, biotechnology companies, academic and government laboratories, contract research organisations, contract marketing organisations, energy & fuels, environmental, food safety, forensics, bioagriculture and homeland security.

Its product areas are gas chromatography, liquid chromatography, mass spectrometry, microarrays, squencing target enrichment, microfluidics, ICP-MS, magnetic resonance, reagents, capillary electrophoresis, lab automation, software and informatics, vacuum technology and consumables and services.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-63771688

Match

:

N/A

Address Provided by Client

:

NO 1 YISHUN AVENUE 7 SINGAPORE 768923

Current Address

:

NO 1, YISHUN AVENUE, 7, 768923, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and she provided some information on the Subject.
The Subject refused to disclose its number of employees.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

2012 - 2016

]

Profit/(Loss) Before Tax

:

Decreased

[

2012 - 2016

]

Return on Shareholder Funds

:

Acceptable

[

27.84%

]

Return on Net Assets

:

Favourable

[

33.40%

]

The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

8 Days

]

Debtor Ratio

:

Favourable

[

26 Days

]

Creditors Ratio

:

Unfavourable

[

80 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 unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

Liquidity

Liquid Ratio

:

Favourable

[

1.30 Times

]

Current Ratio

:

Unfavourable

[

1.39 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 :

Although the Subject's turnover had increased, its profits had declined over the same corresponding period. This could be due to the stiffer market competition and / or higher operating costs which lowered the Subject's profit margin. 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 : STABLE

 

 

 

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 :

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 1999, the Subject is a Private Limited company, focusing on trading of electronic tester and measurements, equipment for life science, diagnostic and chemical analysis produced by the agilent technologies group of companies. 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 MYR 1,998,932 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.

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. 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 69,143,000, the Subject should be able to maintain its business in the near terms.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

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.



PROFIT AND LOSS ACCOUNT

 

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

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

 

Financial Year End

2016-10-31

2015-10-31

2014-10-31

2013-10-31

2012-10-31

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

751,746,000

718,077,000

676,336,000

728,010,000

1,590,329,000

Other Income

900,000

893,000

697,000

950,000

1,424,000

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

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

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

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

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

Total Turnover

752,646,000

718,970,000

677,033,000

728,960,000

1,591,753,000

Costs of Goods Sold

(629,402,000)

(570,239,000)

(572,893,000)

(629,344,000)

(1,395,498,000)

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

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

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

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

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

Gross Profit

123,244,000

148,731,000

104,140,000

99,616,000

196,255,000

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

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

23,091,000

27,279,000

2,558,000

3,391,000

3,596,000

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

23,091,000

27,279,000

2,558,000

3,391,000

3,596,000

Taxation

(3,840,000)

(4,181,000)

(848,000)

(1,699,000)

(893,000)

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

19,251,000

23,098,000

1,710,000

1,692,000

2,703,000

Profit/(Loss) from discontinued operation

-

-

30,570,000

392,000

-

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

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

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

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

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

PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS

19,251,000

23,098,000

32,280,000

2,084,000

2,703,000

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

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

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

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

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

PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS

19,251,000

23,098,000

32,280,000

2,084,000

2,703,000

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

41,589,000

18,491,000

16,345,000

14,261,000

11,558,000

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

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

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

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

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

As restated

41,589,000

18,491,000

16,345,000

14,261,000

11,558,000

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

60,840,000

41,589,000

48,625,000

16,345,000

14,261,000

DIVIDENDS - Ordinary (paid & proposed)

-

-

(30,134,000)

-

-

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

60,840,000

41,589,000

18,491,000

16,345,000

14,261,000

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

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

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

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

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

DEPRECIATION (as per notes to P&L)

644,000

446,000

584,000

800,000

854,000

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

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

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

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

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

Total Amortization And Depreciation

644,000

446,000

584,000

800,000

854,000

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

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

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

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

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

 

 

 

 

 

 

 

 

BALANCE SHEET

 

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

2,066,000

2,602,000

486,000

948,000

2,110,000

LONG TERM INVESTMENTS/OTHER ASSETS

Others

3,000

-

-

-

-

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

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

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

3,000

-

-

-

-

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

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

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

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

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

TOTAL LONG TERM ASSETS

2,069,000

2,602,000

486,000

948,000

2,110,000

CURRENT ASSETS

Stocks

16,829,000

18,410,000

21,602,000

60,694,000

62,327,000

Trade debtors

53,601,000

55,418,000

60,861,000

133,519,000

174,740,000

Other debtors, deposits & prepayments

172,207,000

120,837,000

765,000

824,000

279,937,000

Short term deposits

2,727,000

3,323,000

2,725,000

4,997,000

5,328,000

Amount due from holding company

7,018,000

28,927,000

841,000

10,326,000

-

Amount due from related companies

2,669,000

3,265,000

128,975,000

304,737,000

-

Cash & bank balances

1,300,000

1,342,000

1,423,000

1,388,000

1,565,000

Others

84,000

-

1,000

-

11,000

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

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

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

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

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

TOTAL CURRENT ASSETS

256,435,000

231,522,000

217,193,000

516,485,000

523,908,000

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

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

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

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

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

TOTAL ASSET

258,504,000

234,124,000

217,679,000

517,433,000

526,018,000

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

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

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

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

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

CURRENT LIABILITIES

Trade creditors

138,248,000

127,121,000

137,420,000

300,172,000

304,385,000

Other creditors & accruals

33,983,000

39,090,000

39,427,000

100,457,000

15,069,000

Deposits from customers

8,789,000

9,100,000

8,150,000

12,055,000

11,122,000

Provision for taxation

3,315,000

3,940,000

1,071,000

885,000

42,000

Other liabilities

-

86,000

-

1,000

83,266,000

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

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

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

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

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

TOTAL CURRENT LIABILITIES

184,335,000

179,337,000

186,068,000

413,570,000

413,884,000

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

72,100,000

52,185,000

31,125,000

102,915,000

110,024,000

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

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

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

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

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

LONG TERM LIABILITIES

Deferred taxation

245,000

212,000

75,000

132,000

306,000

Others

4,781,000

4,741,000

5,143,000

37,435,000

47,590,000

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

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

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

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

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

TOTAL LONG TERM LIABILITIES

5,026,000

4,953,000

5,218,000

37,567,000

47,896,000

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

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

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

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

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

TOTAL NET ASSETS

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

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

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

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

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

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

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

5,085,000

5,085,000

5,085,000

47,085,000

47,085,000

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

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

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

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

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

TOTAL SHARE CAPITAL

5,085,000

5,085,000

5,085,000

47,085,000

47,085,000

RESERVES

Retained profit/(loss) carried forward

60,840,000

41,589,000

18,491,000

16,345,000

14,261,000

Employee share option reserve

3,218,000

3,160,000

2,817,000

2,866,000

-

Others

-

-

-

-

2,892,000

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

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

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

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

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

TOTAL RESERVES

64,058,000

44,749,000

21,308,000

19,211,000

17,153,000

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

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

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

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

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

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

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

AGILENT TECHNOLOGIES SINGAPORE (SALES) PTE. LTD.

 

TYPES OF FUNDS

Cash

4,027,000

4,665,000

4,148,000

6,385,000

6,893,000

Net Liquid Funds

4,027,000

4,665,000

4,148,000

6,385,000

6,893,000

Net Liquid Assets

55,271,000

33,775,000

9,523,000

42,221,000

47,697,000

Net Current Assets/(Liabilities)

72,100,000

52,185,000

31,125,000

102,915,000

110,024,000

Net Tangible Assets

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

Net Monetary Assets

50,245,000

28,822,000

4,305,000

4,654,000

(199,000)

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

23,091,000

27,279,000

2,558,000

3,391,000

3,596,000

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

23,735,000

27,725,000

3,142,000

4,191,000

4,450,000

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

0

0

Total Liabilities

189,361,000

184,290,000

191,286,000

451,137,000

461,780,000

Total Assets

258,504,000

234,124,000

217,679,000

517,433,000

526,018,000

Net Assets

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

Net Assets Backing

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

Shareholders' Funds

69,143,000

49,834,000

26,393,000

66,296,000

64,238,000

Total Share Capital

5,085,000

5,085,000

5,085,000

47,085,000

47,085,000

Total Reserves

64,058,000

44,749,000

21,308,000

19,211,000

17,153,000

GROWTH RATIOS (Year on Year) (%)

Revenue

4.69

6.17

(7.10)

(54.22)

(0.34)

Proft/(Loss) Before Tax

(15.35)

966.42

(24.57)

(5.70)

(6.69)

Proft/(Loss) After Tax

(16.66)

1,250.76

1.06

(37.40)

(18.02)

Total Assets

10.41

7.55

(57.93)

(1.63)

14.68

Total Liabilities

2.75

(3.66)

(57.60)

(2.30)

16.21

LIQUIDITY (Times)

Cash Ratio

0.02

0.03

0.02

0.02

0.02

Liquid Ratio

1.30

1.19

1.05

1.10

1.12

Current Ratio

1.39

1.29

1.17

1.25

1.27

WORKING CAPITAL CONTROL (Days)

Stock Ratio

8

9

12

30

14

Debtors Ratio

26

28

33

67

40

Creditors Ratio

80

81

88

174

80

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

0

0

Liabilities Ratio

2.74

3.70

7.25

6.80

7.19

Times Interest Earned Ratio

0

0

0

0

0

Assets Backing Ratio

13.60

9.80

5.19

1.41

1.36

PERFORMANCE RATIO (%)

Operating Profit Margin

3.07

3.80

0.38

0.47

0.23

Net Profit Margin

2.56

3.22

4.77

0.29

0.17

Return On Net Assets

33.40

54.74

9.69

5.11

5.60

Return On Capital Employed

31.13

49.79

8.09

3.26

3.21

Return On Shareholders' Funds/Equity

27.84

46.35

122.31

3.14

4.21

Dividend Pay Out Ratio (Times)

0

0

0.93

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

0

0





 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

SGD

1

INR 49.41

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

SYL

                                                


 

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.