|
|
|
MIRA INFORM REPORT
|
Report No. : |
509437 |
|
Report Date : |
17.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EDMUND OPTICS
SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
18, Woodlands Loop, 5-00, 738100 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
26.12.2000 |
|
|
|
|
Com. Reg. No.: |
200010177R |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacture of optical instruments and photographic equipment. |
|
|
|
|
No. of Employees : |
300 [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. |
: |
200010177R |
|
COMPANY NAME |
: |
EDMUND OPTICS SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
26/12/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
18, WOODLANDS LOOP, 5-00, 738100,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
18 WOODLANDS LOOP #04-00, 738100,
SINGAPORE. |
|
TEL.NO. |
: |
65-62736644 |
|
FAX.NO. |
: |
65-62721763 |
|
WEB SITE |
: |
WWW.EDMUNDOPTICS.COM |
|
CONTACT PERSON |
: |
MARISA ANNE EDMUND ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF OPTICAL INSTRUMENTS AND
PHOTOGRAPHIC EQUIPMENT |
|
ISSUED AND PAID UP CAPITAL |
: |
1,405,773.00 ORDINARY SHARE, OF A VALUE OF
SGD 1,405,773.00 |
|
SALES |
: |
SGD 32,556,000 [2016] |
|
NET WORTH |
: |
SGD 16,638,000 [2016] |
|
STAFF STRENGTH |
: |
300 [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
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) manufacture of optical instruments and photographic equipment.
The immediate holding company of the Subject
is EDMUND OPTICS INC, a company incorporated in UNITED STATES.
The ultimate holding company of the Subject
is EDMUND OPTICS, INC., a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/05/2018 |
SGD 1,405,773.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
EDMUND OPTICS INC |
101E, GLOCESTER PIKE BARRINGTON, NEW JERSEY
08007 ,UNITED STATES |
T00UF0329 |
1,405,773.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,405,773.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
011 |
KOREA |
EDMUND OPTICS KOREA LTD |
- |
100.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MARISA ANNE EDMUND |
|
Address |
: |
607, CENTRE STREET HADDONFIELD, NJ, 08033,
UNITED STATES. |
|
IC / PP No |
: |
219624511 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
22/04/2010 |
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 |
200010177R |
EDMUND OPTICS SINGAPORE PTE. LTD. |
Director |
22/04/2010 |
0.00 |
- |
SGD2,652,000.00 |
2016 |
- |
15/05/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
ANG TECK HOW |
|
Address |
: |
554, CHOA CHU KANG NORTH 6, 12-40, 680554,
SINGAPORE. |
|
IC / PP No |
: |
S1461941J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
07/06/2002 |
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 |
200010177R |
EDMUND OPTICS SINGAPORE PTE. LTD. |
Director |
07/06/2002 |
0.00 |
- |
SGD2,652,000.00 |
2016 |
- |
15/05/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
MARISA ANNE EDMUND |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
DOROTHY HO LAI YONG |
|
IC / PP No |
: |
S1105012C |
|
|
Address |
: |
60, LAKESIDE DRIVE, 08-41, CASPIAN, 648320,
SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201505902 |
22/05/2015 |
N/A |
WELLS FARGO BANK, NATIONAL ASSOCIATION |
- |
Unsatisfied |
|
C201505936 |
22/05/2015 |
N/A |
WELLS FARGO BANK, NATIONAL ASSOCIATION |
- |
Unsatisfied |
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
300 |
300 |
300 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of optical
instruments and photographic equipment.
The Subject has been a leading producer of optics, imaging, and photonics
technology.
The Subject refused to disclose further information on its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62736644 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
18 WOODLANDS LOOP #04-00, 738100 |
|
Current Address |
: |
18 WOODLANDS LOOP #04-00, 738100,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.94% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
12.76% |
] |
|
|
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 |
[ |
41 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
The favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
4.30 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
5.34 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 |
[ |
44.98 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.10 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 was lowly geared thus it had a low financial risk. The Subject
was mainly financed by its shareholders' funds and internally generated
funds. In times of economic slowdown / downturn, the Subject being a lowly
geared company, will be able to compete better than those companies 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. With the favourable interest cover, the Subject could
be able to service all the accrued interest without facing any difficulties.
The Subject as a lowly geared company, will be more secured compared to those
highly geared companies. It has the ability to meet all its long term
obligations. |
||||||
|
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. |
|
EDMUND OPTICS SINGAPORE PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
|
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 |
32,556,000 |
27,622,000 |
|
---------------- |
---------------- |
|
|
Total Turnover |
32,556,000 |
27,622,000 |
|
Costs of Goods Sold |
(24,529,000) |
(21,939,000) |
|
---------------- |
---------------- |
|
|
Gross Profit |
8,027,000 |
5,683,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,287,000 |
2,786,000 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,287,000 |
2,786,000 |
|
Taxation |
365,000 |
(442,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,652,000 |
2,344,000 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
12,580,000 |
10,236,000 |
|
---------------- |
---------------- |
|
|
As restated |
12,580,000 |
10,236,000 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
15,232,000 |
12,580,000 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
15,232,000 |
12,580,000 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
52,000 |
92,000 |
|
---------------- |
---------------- |
|
|
52,000 |
92,000 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,203,000 |
1,281,000 |
|
AMORTIZATION |
114,000 |
113,000 |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
1,317,000 |
1,394,000 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
EDMUND OPTICS SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
6,144,000 |
6,939,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
85,000 |
85,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
85,000 |
85,000 |
|
INTANGIBLE ASSETS |
||
|
Computer software |
268,000 |
382,000 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
268,000 |
382,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,497,000 |
7,406,000 |
|
CURRENT ASSETS |
||
|
Stocks |
2,839,000 |
3,762,000 |
|
Contract work-in-progress |
844,000 |
702,000 |
|
Trade debtors |
938,000 |
810,000 |
|
Other debtors, deposits & prepayments |
613,000 |
241,000 |
|
Short term deposits |
350,000 |
- |
|
Amount due from holding company |
1,756,000 |
755,000 |
|
Amount due from subsidiary companies |
39,000 |
- |
|
Amount due from related companies |
105,000 |
123,000 |
|
Cash & bank balances |
7,081,000 |
5,487,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
14,565,000 |
11,880,000 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
21,062,000 |
19,286,000 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
683,000 |
613,000 |
|
Other creditors & accruals |
1,211,000 |
1,318,000 |
|
Hire purchase & lease creditors |
11,000 |
- |
|
Short term borrowings/Term loans |
440,000 |
440,000 |
|
Amounts owing to holding company |
313,000 |
350,000 |
|
Amounts owing to related companies |
63,000 |
125,000 |
|
Provision for taxation |
4,000 |
4,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,725,000 |
2,850,000 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,840,000 |
9,030,000 |
|
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||
|
Long term loans |
1,063,000 |
1,503,000 |
|
Lease obligations |
72,000 |
- |
|
Deferred taxation |
564,000 |
947,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,699,000 |
2,450,000 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
18,337,000 |
16,436,000 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
1,406,000 |
1,406,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,406,000 |
1,406,000 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
15,232,000 |
12,580,000 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
15,232,000 |
12,580,000 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
16,638,000 |
13,986,000 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
EDMUND OPTICS SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
7,431,000 |
5,487,000 |
|
Net Liquid Funds |
7,431,000 |
5,487,000 |
|
Net Liquid Assets |
9,001,000 |
5,268,000 |
|
Net Current Assets/(Liabilities) |
11,840,000 |
9,030,000 |
|
Net Tangible Assets |
18,069,000 |
16,054,000 |
|
Net Monetary Assets |
7,302,000 |
2,818,000 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
2,339,000 |
2,878,000 |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
3,656,000 |
4,272,000 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
1,586,000 |
1,943,000 |
|
Total Liabilities |
4,424,000 |
5,300,000 |
|
Total Assets |
21,062,000 |
19,286,000 |
|
Net Assets |
18,337,000 |
16,436,000 |
|
Net Assets Backing |
16,638,000 |
13,986,000 |
|
Shareholders' Funds |
16,638,000 |
13,986,000 |
|
Total Share Capital |
1,406,000 |
1,406,000 |
|
Total Reserves |
15,232,000 |
12,580,000 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
17.86 |
9.20 |
|
Proft/(Loss) Before Tax |
(17.91) |
36.04 |
|
Proft/(Loss) After Tax |
13.14 |
31.98 |
|
Total Assets |
9.21 |
5.31 |
|
Total Liabilities |
(16.53) |
(36.64) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
2.73 |
1.93 |
|
Liquid Ratio |
4.30 |
2.85 |
|
Current Ratio |
5.34 |
4.17 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
41 |
59 |
|
Debtors Ratio |
11 |
11 |
|
Creditors Ratio |
10 |
10 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.10 |
0.14 |
|
Liabilities Ratio |
0.27 |
0.38 |
|
Times Interest Earned Ratio |
44.98 |
31.28 |
|
Assets Backing Ratio |
12.85 |
11.42 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
7.02 |
10.09 |
|
Net Profit Margin |
8.15 |
8.49 |
|
Return On Net Assets |
12.76 |
17.51 |
|
Return On Capital Employed |
12.56 |
17.11 |
|
Return On Shareholders' Funds/Equity |
15.94 |
16.76 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
|
SGD |
1 |
INR 50.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.