|
|
|
MIRA INFORM REPORT
|
Report No. : |
508173 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP MATERIALS TRADING ASIA PTE. LTD. |
|
|
|
|
Formerly Known As : |
THYSSENKRUPP MANNEX ASIA PTE. LTD.
(01/04/2016)
|
|
|
|
|
Registered Office : |
3, International Business Park, 06-03/06, Nordic European Centre,
609927 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2017 |
|
|
|
|
Date of Incorporation : |
03.02.1988 |
|
|
|
|
Com. Reg. No.: |
198800359M |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of mechanical,
electrical and technical products, pipes, tubes and steel products. |
|
|
|
|
No. of Employees : |
28 |
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 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. |
: |
198800359M |
||||
|
COMPANY
NAME |
: |
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
||||
|
FORMER
NAME |
: |
THYSSENKRUPP
MANNEX ASIA PTE. LTD. (01/04/2016) |
||||
|
INCORPORATION
DATE |
: |
03/02/1988 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
3,
INTERNATIONAL BUSINESS PARK, 06-03/06, NORDIC EUROPEAN CENTRE, 609927,
SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
3,
INTERNATIONAL BUSINESS PARK, 06-03/06, NORDIC EUROPEAN CENTRE, 609927,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-66657665 |
||||
|
FAX.NO. |
: |
65-66657600 |
||||
|
WEB
SITE |
: |
WWW.THYSSENKRUPP-MATERIALS-SERVICES.COM |
||||
|
CONTACT
PERSON |
: |
WOLFGANG
HANS SCHNITTKER ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF MECHANICAL, ELECTRICAL AND TECHNICAL PRODUCTS, PIPES, TUBES AND STEEL
PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
300,000.00
ORDINARY SHARE, OF A VALUE OF SGD 300,000.00 |
||||
|
SALES |
: |
USD
354,129,000 [2017] |
||||
|
NET
WORTH |
: |
USD
15,195,000 [2017] |
||||
|
STAFF
STRENGTH |
: |
28
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
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) trading of mechanical, electrical and technical products, pipes,
tubes and steel products.
The immediate holding company of the Subject
is THYSSENKRUPP SINGAPORE PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject
is THYSSENKRUPP AG, a company incorporated in GERMANY.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
14/05/2018 |
SGD
300,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
THYSSENKRUPP
SINGAPORE PTE. LTD. |
3,
INTERNATIONAL BUSINESS PARK, 06-01, NORDIC EUROPEAN CENTRE 609927 ,SINGAPORE |
198202129R |
300,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
300,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR 1
|
Name
Of Subject |
: |
BARBARA
GREGOR |
|
Address |
: |
HUGO-SCHLIMM-STR.
67, 40882, RATINGEN, GERMANY. |
|
IC
/ PP No |
: |
C71F8ZJ0V |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
01/10/2017 |
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 |
198800359M |
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
Director |
01/10/2017 |
0.00 |
- |
USD2,009,000.00 |
2017 |
- |
14/05/2018 |
DIRECTOR 2
|
Name
Of Subject |
: |
WOLFGANG
HANS SCHNITTKER |
|
Address |
: |
WUPPERSTRASSE
4, 40219 DUESSELDORF, GERMANY. |
|
IC
/ PP No |
: |
S2749393I |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
01/11/2001 |
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 |
198800359M |
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
Director |
01/11/2001 |
0.00 |
- |
USD2,009,000.00 |
2017 |
- |
14/05/2018 |
DIRECTOR 3
|
Name
Of Subject |
: |
ANDREW
JOHN POND |
|
Address |
: |
55Q,
JALAN LIM TAI SEE, ESTRIVILLAS, 266238, SINGAPORE. |
|
IC
/ PP No |
: |
F5503815P |
|
Nationality |
: |
BRITISH |
|
Date
of Appointment |
: |
01/02/2014 |
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 |
198800359M |
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
Director |
01/02/2014 |
0.00 |
- |
USD2,009,000.00 |
2017 |
- |
14/05/2018 |
DIRECTOR 4
|
Name
Of Subject |
: |
MARKUS
STAATSMANN |
|
Address |
: |
103,
PETIR ROAD, 23-06, FORESQUE RESIDENCES, 678273, SINGAPORE. |
|
IC
/ PP No |
: |
S2747128E |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
21/09/2017 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
198800359M |
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
Secretary
Director |
23/08/2013
21/09/2017 |
0.00 |
- |
USD2,009,000.00 |
2017 |
- |
14/05/2018 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
WOLFGANG
HANS SCHNITTKER |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
MARKUS
STAATSMANN |
|
IC
/ PP No |
: |
S2747128E |
|
|
Address |
: |
103,
PETIR ROAD, 23-06, FORESQUE RESIDENCES, 678273, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally
with :
|
1) |
Name |
: |
BAYERISCHE
LANDESBANK |
|
2) |
Name |
: |
COMMERZBANK
AKTIENGESELLSCHAFT |
|
3) |
Name |
: |
DEUTSCHE
BANK AKTIENGESELLSCHAFT |
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
- 60 DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
MECHANICAL,
ELECTRICAL AND TECHNICAL PRODUCTS, PIPES, TUBES AND STEEL PRODUCTS |
|
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2014 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
28 |
28 |
28 |
28 |
|||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a
/ as an) trading of mechanical, electrical and technical products, pipes, tubes
and steel products.
The principal activities of the Subject those
relating to the trading of mechanical, electrical and technical products,
pipes, tubes and steel products.
The products dealings:
* iron and steel rods, bars, sections, rails,
tyres, rolled steel
sections, piling steel
* cold rolled steel flats, plates and
strips
* light metals and alloys
* light metal semi-manufactured products
* gauze, cloth and netting, metal
* pipes and tubes, ferrous metals
* pipes and tubes, non-ferrous metals
* pipe, tube and hose fittings and joints, metal
* valves, cocks, taps and fittings, metal
* metals and semi-manufactured metal
products
- pipes and tubes, ferrous metals
- ingots, billets and blooms, non-ferrous
metals
- brass
- pipes and tubes, non-ferrous metals
* ironmongery and hardware
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-66657665 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
NO
3 INTERNATIONAL BUSINESS PARK, NORDIC EUROPEAN CENTRE #06-03/06, 609927
SINGAPORE |
|
Current
Address |
: |
3,
INTERNATIONAL BUSINESS PARK, 06-03/06, NORDIC EUROPEAN CENTRE, 609927,
SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 14th May 2018, we have contacted one of the
staff from the Subject and she provided some information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013
- 2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013
- 2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
13.22% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
17.93% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.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 |
[ |
3
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
26
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
91
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 |
[ |
1.12
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.15
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 |
: |
Acceptable |
[ |
4.24
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its profit
or sudden increase in the interest rates, we believe the Subject is able to
generate sufficient income to service its interest and repay the loans. 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 turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs
and profitability. 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 had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. The Subject was a zero gearing company, it was solely
dependant on its shareholders to provide funds to finance its business. The
Subject has good chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : FAIR |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population
(Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross
Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer
Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total
Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total
Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment
Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist
Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel
Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular
Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration
of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation
of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation
of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration
of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration
of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation
of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation
of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy
Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy
Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy
Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish
Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing
Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather
Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood
& Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper
& Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing
& Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude
Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical
& Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical
Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber
& Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic
Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic
Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated
Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery
& Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical
Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic
Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport
Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real
Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport,
Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance
& Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government
Services |
6.50 |
6.30 |
- |
- |
- |
|
Education
Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
*
Estimate / Preliminary |
|||||
|
#
Based on Index of Industrial Production (2015 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY
: |
TRADING |
|
According
to the Ministry of Trade and Industry, the wholesale & retail trade
sector expanded to 3.0% in the fourth quarter of 2017, moderating from the
3.3% growth in the previous quarter. The wholesale trade segment was boosted by
an improvement in foreign wholesale sales volume, which more than offset the
weakness in domestic wholesale sales volume. For the whole of 2017, the
sector expanded by 2.3%, faster than the 1.0% growth in 2016. The improvement
in growth can be attributed to the wholesale segment. |
|
|
The
domestic wholesale sales volume fell by 1.1% in the fourth quarter 2017,
reversing the 2.0% growth in the preceding quarter. The poorer outturn was
led by declines in the sales volume of household equipment & furniture
(-27%) and general wholesale merchandise (-19%), which outweighed the
increase in the sales volume of telecommunications & computers (20%). For
the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On
the other hand, foreign wholesale sales volume rose to 6.2% in the fourth
quarter 2017, a step-up from the 5.1% growth in the preceding quarter. Growth
was driven by expansions in the sales of petroleum & petroleum-related products
(11%t), telecommunications & computers (19%) and electronic components
(16%). However, growth was partly offset by a 20% decline in the sales volume
of metals, timber & construction materials. For the full year 2017, the
foreign wholesale trade index rose by 3.6%, faster than the increase of 1.5%
in the previous year. |
|
|
Besides,
retail sales volume rose by 2.1% in the fourth quarter 2017, improving from
the 0.9% growth recorded in the third quarter. Growth was supported by
improvements in both motor vehicle and non-motor vehicle sales volumes. While
motor vehicle sales benefitted from an on-year increase in COE supply, growth
in non-motor vehicle sales came on the back of an improvement in consumer
sentiments. Notably, the sales volume of discretionary goods such as
recreational goods, computer & telecommunication equipment and wearing
apparel & footwear grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For
the full year 2017, retail sales volume expanded by 1.3%, similar to the 1.5%
growth recorded in 2016. Growth was driven by both motor vehicle sales and
non-motor vehicle sales, which the former rising by 1.5% and the latter
increasing by 1.3%. The rise in non-motor vehicle sales was underpinned by
higher sales of discretionary goods. For instance, the sales volume of
recreational goods (3.9%), watches & jewellery (2.4%), computer &
telecommunications equipment (1.7%) and wearing apparel & footwear (1.5%)
improved in 2017. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
|
Financial
Year End |
2017-09-30 |
2016-09-30 |
2015-09-30 |
2014-09-30 |
2013-09-30 |
|
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 |
354,129,000 |
272,319,000 |
536,634,000 |
413,186,000 |
356,556,000 |
|
Other
Income |
668,000 |
801,000 |
808,000 |
667,000 |
468,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
354,797,000 |
273,120,000 |
537,442,000 |
413,853,000 |
357,024,000 |
|
Costs
of Goods Sold |
(344,554,000) |
(263,020,000) |
(525,650,000) |
(405,422,000) |
(347,715,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
10,243,000 |
10,100,000 |
11,792,000 |
8,431,000 |
9,309,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
2,081,000 |
1,935,000 |
2,482,000 |
1,155,000 |
3,572,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
2,081,000 |
1,935,000 |
2,482,000 |
1,155,000 |
3,572,000 |
|
Taxation |
(72,000) |
1,199,000 |
(8,000) |
(145,000) |
(475,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
2,009,000 |
3,134,000 |
2,474,000 |
1,010,000 |
3,097,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
37,714,000 |
34,580,000 |
32,106,000 |
31,096,000 |
27,999,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
37,714,000 |
34,580,000 |
32,106,000 |
31,096,000 |
27,999,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
39,723,000 |
37,714,000 |
34,580,000 |
32,106,000 |
31,096,000 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(22,000,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
17,723,000 |
37,714,000 |
34,580,000 |
32,106,000 |
31,096,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
1,000 |
- |
3,000 |
- |
1,000 |
|
Letter
of credit |
642,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
643,000 |
- |
3,000 |
- |
1,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
30,000 |
32,000 |
32,000 |
43,000 |
76,000 |
|
AMORTIZATION |
- |
- |
- |
- |
2,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
30,000 |
32,000 |
32,000 |
43,000 |
78,000 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
47,000 |
83,000 |
93,000 |
14,000 |
35,000 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Deferred
assets |
1,407,000 |
1,612,000 |
543,000 |
216,000 |
335,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
1,407,000 |
1,612,000 |
543,000 |
216,000 |
335,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,454,000 |
1,695,000 |
636,000 |
230,000 |
370,000 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
3,049,000 |
2,394,000 |
- |
- |
- |
|
Trade
debtors |
25,273,000 |
10,213,000 |
12,748,000 |
21,801,000 |
59,723,000 |
|
Other
debtors, deposits & prepayments |
546,000 |
476,000 |
676,000 |
595,000 |
380,000 |
|
Amount
due from holding company |
30,678,000 |
20,724,000 |
32,465,000 |
20,007,000 |
27,913,000 |
|
Amount
due from related companies |
44,423,000 |
49,559,000 |
25,557,000 |
88,042,000 |
- |
|
Cash
& bank balances |
1,897,000 |
2,540,000 |
1,083,000 |
2,538,000 |
613,000 |
|
Others |
1,000 |
- |
81,000 |
14,000 |
63,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
105,867,000 |
85,906,000 |
72,610,000 |
132,997,000 |
88,692,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
107,321,000 |
87,601,000 |
73,246,000 |
133,227,000 |
89,062,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
85,939,000 |
47,054,000 |
30,355,000 |
97,265,000 |
53,554,000 |
|
Other
creditors & accruals |
1,984,000 |
2,127,000 |
1,979,000 |
2,098,000 |
1,741,000 |
|
Deposits
from customers |
341,000 |
318,000 |
- |
- |
- |
|
Amounts
owing to holding company |
55,000 |
- |
- |
- |
- |
|
Amounts
owing to related companies |
2,699,000 |
1,656,000 |
3,942,000 |
332,000 |
- |
|
Provision
for taxation |
- |
- |
429,000 |
68,000 |
423,000 |
|
Other
liabilities |
1,108,000 |
1,260,000 |
1,807,000 |
1,204,000 |
2,094,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
92,126,000 |
52,415,000 |
38,512,000 |
100,967,000 |
57,812,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
13,741,000 |
33,491,000 |
34,098,000 |
32,030,000 |
30,880,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
154,000 |
154,000 |
154,000 |
154,000 |
154,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
154,000 |
154,000 |
154,000 |
154,000 |
154,000 |
|
RESERVES |
|||||
|
Capital
reserve |
(2,737,000) |
(2,737,000) |
- |
- |
- |
|
General
reserve |
55,000 |
55,000 |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
17,723,000 |
37,714,000 |
34,580,000 |
32,106,000 |
31,096,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
15,041,000 |
35,032,000 |
34,580,000 |
32,106,000 |
31,096,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
THYSSENKRUPP
MATERIALS TRADING ASIA PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
1,897,000 |
2,540,000 |
1,083,000 |
2,538,000 |
613,000 |
|
Net
Liquid Funds |
1,897,000 |
2,540,000 |
1,083,000 |
2,538,000 |
613,000 |
|
Net
Liquid Assets |
10,692,000 |
31,097,000 |
34,098,000 |
32,030,000 |
30,880,000 |
|
Net
Current Assets/(Liabilities) |
13,741,000 |
33,491,000 |
34,098,000 |
32,030,000 |
30,880,000 |
|
Net
Tangible Assets |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
Net
Monetary Assets |
10,692,000 |
31,097,000 |
34,098,000 |
32,030,000 |
30,880,000 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
2,724,000 |
1,935,000 |
2,485,000 |
1,155,000 |
3,573,000 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
2,754,000 |
1,967,000 |
2,517,000 |
1,198,000 |
3,651,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
92,126,000 |
52,415,000 |
38,512,000 |
100,967,000 |
57,812,000 |
|
Total
Assets |
107,321,000 |
87,601,000 |
73,246,000 |
133,227,000 |
89,062,000 |
|
Net
Assets |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
Net
Assets Backing |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
Shareholders'
Funds |
15,195,000 |
35,186,000 |
34,734,000 |
32,260,000 |
31,250,000 |
|
Total
Share Capital |
154,000 |
154,000 |
154,000 |
154,000 |
154,000 |
|
Total
Reserves |
15,041,000 |
35,032,000 |
34,580,000 |
32,106,000 |
31,096,000 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
30.04 |
(49.25) |
29.88 |
15.88 |
(8.28) |
|
Proft/(Loss)
Before Tax |
7.55 |
(22.04) |
114.89 |
(67.67) |
0.65 |
|
Proft/(Loss)
After Tax |
(35.90) |
26.68 |
144.95 |
(67.39) |
(5.17) |
|
Total
Assets |
22.51 |
19.60 |
(45.02) |
49.59 |
13.13 |
|
Total
Liabilities |
75.76 |
36.10 |
(61.86) |
74.65 |
14.31 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.02 |
0.05 |
0.03 |
0.03 |
0.01 |
|
Liquid
Ratio |
1.12 |
1.59 |
1.89 |
1.32 |
1.53 |
|
Current
Ratio |
1.15 |
1.64 |
1.89 |
1.32 |
1.53 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
3 |
3 |
0 |
0 |
0 |
|
Debtors
Ratio |
26 |
14 |
9 |
19 |
61 |
|
Creditors
Ratio |
91 |
65 |
21 |
88 |
56 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
6.06 |
1.49 |
1.11 |
3.13 |
1.85 |
|
Times
Interest Earned Ratio |
4.24 |
0 |
828.33 |
0 |
3,573.00 |
|
Assets
Backing Ratio |
98.67 |
228.48 |
225.55 |
209.48 |
202.92 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.59 |
0.71 |
0.46 |
0.28 |
1.00 |
|
Net
Profit Margin |
0.57 |
1.15 |
0.46 |
0.24 |
0.87 |
|
Return
On Net Assets |
17.93 |
5.50 |
7.15 |
3.58 |
11.43 |
|
Return
On Capital Employed |
17.93 |
5.50 |
7.15 |
3.58 |
11.43 |
|
Return
On Shareholders' Funds/Equity |
13.22 |
8.91 |
7.12 |
3.13 |
9.91 |
|
Dividend
Pay Out Ratio (Times) |
10.95 |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.31 |
|
|
1 |
INR 91.24 |
|
Euro |
1 |
INR 80.50 |
|
SGD |
1 |
INR 50.82 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
DNS |
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.