|
|
|
MIRA
INFORM REPORT
|
Report No. : |
507488 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PERKINELMER SINGAPORE PTE. LTD. |
|
|
|
|
Formerly Known As : |
·
PERKINELMER
SINGAPORE PTE LTD ·
EG&G
SINGAPORE PTE LTD ·
BERKSHIRE
INVESTMENTS PTE LTD |
|
|
|
|
Registered Office : |
80, Raffles Place,
32-01, Uob Plaza, 048624 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
01.01.2017 |
|
|
|
|
Date of Incorporation : |
14.10.1997 |
|
|
|
|
Com. Reg. No.: |
199707113D |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in
manufacturing, servicing and trading of analytical instruments and its
related products. |
|
|
|
|
No. of Employees : |
340 [2018] |
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 electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s 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 from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Growth recovered to 3.6% in 2017 with a strengthening global economy.
The government is attempting to restructure Singapore’s
economy to reduce its dependence on foreign labor, raise productivity growth,
and increase wages amid slowing labor force growth and an aging population.
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 signatory of the Comprehensive and Progressive Agreement
for Trans-Pacific Partnership (CPTPP), and a party to the Regional
Comprehensive Economic Partnership (RCEP) negotiations with 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. |
: |
199707113D |
|
COMPANY
NAME |
: |
PERKINELMER
SINGAPORE PTE. LTD. |
|
FORMER
NAME |
: |
PERKINELMER
SINGAPORE PTE LTD (20/10/2008) |
|
INCORPORATION
DATE |
: |
14/10/1997 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
80,
RAFFLES PLACE, 32-01, UOB PLAZA, 048624, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
28,
AYER RAJAH CRESCENT, LEVEL 4, 6, 8, 139959, SINGAPORE. |
|
TEL.NO. |
: |
65-68681688/68681660 |
|
FAX.NO. |
: |
65-67796567 |
|
WEB
SITE |
: |
WWW.PERKINELMER.COM |
|
CONTACT
PERSON |
: |
TAY
SEOW WAH ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING,
SERVICING AND TRADING OF ANALYTICAL INSTRUMENTS AND ITS RELATED PRODUCTS |
|
ISSUED
AND PAID UP CAPITAL |
: |
5,000,000.00
ORDINARY SHARE, OF A VALUE OF SGD 53,752,003.00 |
|
SALES |
: |
SGD
957,401,000 [2017] |
|
NET
WORTH |
: |
SGD
372,842,000 [2017] |
|
STAFF
STRENGTH |
: |
340
[2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STRONG |
|
PAYMENT |
: |
REGULAR |
|
MANAGEMENT
CAPABILITY |
: |
GOOD |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
GOOD |
|
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) manufacturing, servicing and trading of analytical instruments and its
related products.
The immediate holding company of the Subject is
PERKINELMER INTERNATIONAL C.V., a company incorporated in NETHERLANDS.
The ultimate holding company of the Subject is
PERKINELMER, INC., a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
04/05/2018 |
SGD
53,752,003.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
PERKINELMER
INTERNATIONAL C.V. |
LIJNDONK,
256, 4825, BG BREDA NETHERLANDS |
T03UF1726 |
5,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
PERKIN
ELMER (INDIA) PRIVATE LIMITED |
- |
100.00 |
01/01/2017 |
|
|
CHINA |
PERKIN
ELMER MANAGEMENT (SHANGHAI) CO.LTD |
- |
100.00 |
01/01/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
JOHN
LEO HEALY |
|
Address |
: |
940,
WINTER STREET, WALTHAM, MASSACHUSETTS 02451, UNITED STATES. |
|
IC / PP
No |
: |
511802266 |
|
Nationality |
: |
AMERICAN |
|
Date of
Appointment |
: |
01/09/2004 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199707113D |
PERKINELMER
SINGAPORE PTE. LTD. |
Director |
01/09/2004 |
0.00 |
- |
SGD121,028,000.00 |
2017 |
- |
04/05/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
TAY
SEOW WAH |
|
Address |
: |
19,
COMPASSVALE ROAD, 13-18, THE LUXURIE, 544753, SINGAPORE. |
|
IC / PP
No |
: |
S1618139J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
30/12/2011 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199707113D |
PERKINELMER
SINGAPORE PTE. LTD. |
Director |
30/12/2011 |
0.00 |
- |
SGD121,028,000.00 |
2017 |
- |
04/05/2018 |
DIRECTOR 3
|
Name Of
Subject |
: |
DAISY
AUYEUNG YIK YAN |
|
Address |
: |
11,
LEEDON HEIGHTS, 29-32, D'LEEDON, 267955, SINGAPORE. |
|
IC / PP
No |
: |
S2626105H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
04/06/2010 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
199707113D |
PERKINELMER
SINGAPORE PTE. LTD. |
Director |
04/06/2010 |
0.00 |
- |
SGD121,028,000.00 |
2017 |
- |
04/05/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
TAY
SEOW WAH |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
DELOITTE
& TOUCHE LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
CHEW
BEE LENG |
|
IC / PP
No |
: |
S7036104C |
|
|
Address |
: |
609,
BEDOK RESERVOIR ROAD, 08-644, EUNOS RAINBOW, 470609, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
MARIAN
HO WUI MEE |
|
IC / PP
No |
: |
S1787009B |
|
|
Address |
: |
9, KENG
CHIN ROAD, 08-04, BELLERIVE, 258711, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
[ |
] |
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 |
: |
30 - 90
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
340 |
340 |
340 |
340 |
340 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing,
servicing and trading of analytical instruments and its related products.
The principal activity of the Subject are the manufacturing, servicing and sale
of analytical instruments.
The Subject also operates as a principal in its European business structure for
the sales and manufacturing sagments.
The Subject use high technology of machine in order to produce high quality of
products.
The Subject's group activities is distribution and marketing of life sciences
and analytical instrument.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-68681688/68681660 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
28 AYER
RAJAH CRESCENT NO. 08-01 139959 SINGAPORE |
|
Current
Address |
: |
28,
AYER RAJAH CRESCENT, LEVEL 4, 6, 8, 139959, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address provided can also be used by the Subject.
The Subject refused to disclose its banker information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 -
2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2012 -
2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
32.46% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
35.29% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
45 Days |
] |
|
|
Debtor
Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The Subject's management was quite
efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. The Subject
had a favourable creditors' ratio where the Subject could be taking advantage
of the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
2.03
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
2.68
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to
assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is able
to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
21,927.50
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. The Subject had no gearing and hence
it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The
Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. With the
favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
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
: |
MANUFACTURING |
|
The
manufacturing sector expanded by 4.8% in the fourth quarter, supported
largely by robust output growth in the electronics and precision engineering
clusters. For the whole of 2017, the manufacturing sector grew by 10%,
accelerating from the 3.7% expansion in 2016. Growth was largely driven by
the electronics and precision engineering clusters, even as the biomedical
manufacturing, transport engineering and general manufacturing industries
clusters contracted. |
|
|
The electronics
cluster grew by 24% in the fourth quarter 2017, largely due to the
semiconductors segment, which expanded by 35%. Specifically, the
semiconductors segment benefitted from robust global semiconductors demand,
which was in turn driven by key end markets such as the smartphone market. At
the same time, the computer peripherals segment registered healthy growth of
9.5%, supported by buoyant demand for printer-related products. On the other
hand, the data storage and other electronic modules & components segments
contracted by 25% and 7.5% respectively. For the full year, the electronics
cluster expanded by 34% as the healthy performance of the semiconductors and
computer peripherals segments more than offset the weakness in the data
storage segment. |
|
|
In
fourth quarter 2017, the precision engineering cluster expanded to 20%,
supported by both the precision modules & components (PMC) and machinery
& systems (M&S) segments. Output in the PMC segment rose by 40% due
to an increase in the production of dies, moulds, tools, jigs & fixture,
optical instruments and metal precision components. Meanwhile, the M&S
segment grew by 8.9% in tandem with healthy export demand for semiconductor
manufacturing equipment. For the whole of 2017, the output of the precision engineering
cluster rose by 18% on account of robust expansions in both segments. |
|
|
The
chemicals cluster grew by 12% in the fourth quarter 2017, with all segments
recording growth. In particular, the petrochemicals segment grew by 23% on
the back of production capacity expansions, while the petroleum segment
expanded by 13% supported by higher refining margins. At the same time, the
other chemicals and specialties segments posted growth of 8.1% and
6.2%respectively. For 2017 as a whole, the chemicals cluster expanded by
6.2%, supported by growth in all segments. |
|
|
Besides,
output of the general manufacturing industries cluster increased to 6.6% in
the fourth quarter 2017, primarily due to the strong performance of the food,
beverages & tobacco (FBT) segment, which grew by 18% on the back of a
surge in the production of beverages products. On the other hand, the
printing segment shrank by 11% due to weak demand for commercial printing,
while output in the miscellaneous industries segment declined by 0.6% on
account of a lower production of construction-related materials. For the
whole of 2017, the general manufacturing industries cluster contracted by
1.6%, as output declines in the printing and miscellaneous industries
segments outweighed output gains in the FBT segment. |
|
|
Moreover,
output of the transport engineering cluster fell by 7.8% in the fourth
quarter 2017. The aerospace segment recorded robust growth of 13% due to a
higher volume of repair and maintenance work from commercial airlines.
However, this was more than offset by output declines in the marine &
offshore engineering (M&OE) and land transport segments of 22% and 11%
respectively. In particular, the M&OE segment remained weak on account of
low levels of rig-building, shipbuilding and repair activities. For the full
year 2017, the transport engineering cluster shrank by 6.9%, dragged down
mainly by the M&OE segment. |
|
|
The
biomedical manufacturing cluster contracted by 28% in the fourth quarter
2017, weighed down by the pharmaceuticals segment (-37%) on the back of a
drop in the production of active pharmaceutical ingredients and biological
products. However, the medical technology segment, which grew at a healthy
pace of 3.3%, provided some support to the cluster. For 2017 as a whole,
output in the biomedical manufacturing cluster fell by 9.3%, led by the
output decline in the pharmaceuticals segment. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
PERKINELMER
SINGAPORE PTE. LTD. |
|
Financial
Year End |
2017-01-01 |
2016-01-03 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
957,401,000 |
949,950,000 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
957,401,000 |
949,950,000 |
|
Costs
of Goods Sold |
(607,647,000) |
(634,042,000) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
349,754,000 |
315,908,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
131,559,000 |
99,617,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
131,559,000 |
99,617,000 |
|
Taxation |
(10,531,000) |
(6,990,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
121,028,000 |
92,627,000 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
280,075,000 |
222,948,000 |
|
---------------- |
---------------- |
|
|
As
restated |
280,075,000 |
222,948,000 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
401,103,000 |
315,575,000 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(55,000,000) |
(35,500,000) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
346,103,000 |
280,075,000 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
Others |
6,000 |
8,000 |
|
---------------- |
---------------- |
|
|
6,000 |
8,000 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
3,158,000 |
3,158,000 |
|
AMORTIZATION |
12,401,000 |
9,440,000 |
|
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
15,559,000 |
12,598,000 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
PERKINELMER
SINGAPORE PTE. LTD. |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
9,873,000 |
10,893,000 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary
companies |
13,367,000 |
13,367,000 |
|
Others |
377,000 |
375,000 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
13,744,000 |
13,742,000 |
|
INTANGIBLE
ASSETS |
||
|
Goodwill
on consolidation |
1,439,000 |
1,439,000 |
|
Intellectual
property and license rights |
63,199,000 |
15,664,000 |
|
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
64,638,000 |
17,103,000 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
88,255,000 |
41,738,000 |
|
CURRENT
ASSETS |
||
|
Stocks |
113,786,000 |
130,561,000 |
|
Contract
work-in-progress |
3,798,000 |
3,848,000 |
|
Trade
debtors |
145,739,000 |
144,872,000 |
|
Other
debtors, deposits & prepayments |
3,590,000 |
9,726,000 |
|
Amount
due from holding company |
1,811,000 |
4,000 |
|
Amount
due from subsidiary companies |
19,532,000 |
15,784,000 |
|
Amount
due from related companies |
98,539,000 |
70,504,000 |
|
Cash
& bank balances |
84,179,000 |
56,988,000 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
470,974,000 |
432,287,000 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
559,229,000 |
474,025,000 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
57,039,000 |
77,227,000 |
|
Other
creditors & accruals |
13,709,000 |
14,682,000 |
|
Hire
purchase & lease creditors |
24,000 |
31,000 |
|
Amounts
owing to holding company |
7,431,000 |
5,110,000 |
|
Amounts
owing to subsidiary companies |
7,006,000 |
3,699,000 |
|
Amounts
owing to related companies |
55,602,000 |
41,135,000 |
|
Provision
for taxation |
7,921,000 |
6,844,000 |
|
Other
liabilities |
27,112,000 |
3,559,000 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
175,844,000 |
152,287,000 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
295,130,000 |
280,000,000 |
|
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
||
|
Lease
obligations |
46,000 |
71,000 |
|
Deferred
taxation |
3,271,000 |
245,000 |
|
Others |
7,226,000 |
7,015,000 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
10,543,000 |
7,331,000 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
372,842,000 |
314,407,000 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
53,752,000 |
53,752,000 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
53,752,000 |
53,752,000 |
|
RESERVES |
||
|
Exchange
equalisation/fluctuation reserve |
(27,013,000) |
(19,420,000) |
|
Retained
profit/(loss) carried forward |
346,103,000 |
280,075,000 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
319,090,000 |
260,655,000 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
372,842,000 |
314,407,000 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
PERKINELMER
SINGAPORE PTE. LTD. |
|
TYPES
OF FUNDS |
||
|
Cash |
84,179,000 |
56,988,000 |
|
Net
Liquid Funds |
84,179,000 |
56,988,000 |
|
Net
Liquid Assets |
181,344,000 |
149,439,000 |
|
Net
Current Assets/(Liabilities) |
295,130,000 |
280,000,000 |
|
Net
Tangible Assets |
308,204,000 |
297,304,000 |
|
Net
Monetary Assets |
170,801,000 |
142,108,000 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
131,565,000 |
99,625,000 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
147,124,000 |
112,223,000 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
70,000 |
102,000 |
|
Total
Liabilities |
186,387,000 |
159,618,000 |
|
Total
Assets |
559,229,000 |
474,025,000 |
|
Net
Assets |
372,842,000 |
314,407,000 |
|
Net
Assets Backing |
372,842,000 |
314,407,000 |
|
Shareholders'
Funds |
372,842,000 |
314,407,000 |
|
Total
Share Capital |
53,752,000 |
53,752,000 |
|
Total
Reserves |
319,090,000 |
260,655,000 |
|
GROWTH
RATIOS (Year on Year) (%) |
||
|
Revenue |
0.78 |
0.94 |
|
Proft/(Loss)
Before Tax |
32.06 |
29.92 |
|
Proft/(Loss)
After Tax |
30.66 |
29.23 |
|
Total
Assets |
17.97 |
9.28 |
|
Total
Liabilities |
16.77 |
(8.47) |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.48 |
0.37 |
|
Liquid Ratio |
2.03 |
1.98 |
|
Current
Ratio |
2.68 |
2.84 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
45 |
52 |
|
Debtors
Ratio |
56 |
56 |
|
Creditors
Ratio |
34 |
44 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0 |
0 |
|
Liabilities
Ratio |
0.50 |
0.51 |
|
Times
Interest Earned Ratio |
21,927.50 |
12,453.13 |
|
Assets
Backing Ratio |
5.73 |
5.53 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
13.74 |
10.49 |
|
Net
Profit Margin |
12.64 |
9.75 |
|
Return
On Net Assets |
35.29 |
31.69 |
|
Return
On Capital Employed |
29.36 |
29.40 |
|
Return
On Shareholders' Funds/Equity |
32.46 |
29.46 |
|
Dividend
Pay Out Ratio (Times) |
0.45 |
0.38 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
|
SGD |
1 |
INR 50.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.