MIRA INFORM REPORT

 

 

Report Date :

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

JALDHI OVERSEAS PTE. LTD.

 

 

Registered Office :

101 Cecil Street #08-06 Tong Eng Building Singapore 069533

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.11.2004

 

 

Com. Reg. No.:

200414910Z

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Shipping Lines , Ship Owners, Shipping Agency

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

S$1,000,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Exists

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Executive Summary

 

Company Name

:

JALDHI OVERSEAS PTE. LTD.

Registration No

:

200414910Z

Date of Registration

:

18/11/2004

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

101 CECIL STREET #08-06 TONG ENG BUILDING SINGAPORE 069533

Date of Change of Address

:

31/08/2007

Contact No.

:

6223 8929

Fax No.

:

6223 8920

Website

:

NA

Registered Activities

:

1. SHIPPING LINES

SHIP OWNERS, SHIPPING AGENCY

2. SHIP BROKERING SERVICES

SHIP BROKERS, SHIP CHARTERERS

Issued Ordinary Capital*

:

$8,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 8,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$8,000,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

J K MEDORA & CO

Bankers / Financiers

:

CITIBANK N.A.

Turnover

:

SINGAPORE, DOLLARS 310,468,271.08 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 23,781,651.94 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

1

S1000 / SME 500 / FG50 Ranking

:

673 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

532 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

478 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

24.91% (4 years)

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

SHAREHOLDER DETAILS

 

NAME

:

BOTHRA SHIPPING SERVICES

SHAREHOLDER ID

:

T05UF1244E

NATIONALITY

:

INDIA

ADDRESS

:

2 CLIVE GHAT STREET, 2ND FLOOR, ROOM 10 KOLKATA 700 001, INDIA

NO. OF ORD SHARES

:

4,080,000

% OF SHAREHOLDING

:

51%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

VIAJ LIMITED

SHAREHOLDER ID

:

T05UF1245A

NATIONALITY

:

VIRGIN ISLANDS, BRITISH

ADDRESS

:

P O BOX 957, OFFSHORE INCORPORATIONS CENTRE ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS

NO. OF ORD SHARES

:

3,920,000

% OF SHAREHOLDING

:

49%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

AJIT CHAND BOTHRA

ADDRESS

:

101 CECIL STREET #08-06 TONG ENG BUILDING SINGAPORE 069533

POSITION

:

DIRECTOR

DATE OF APPT

:

05/01/2005

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G2447963

 

NAME

:

VIRA CHAND BOTHRA

ADDRESS

:

101 CECIL STREET #08-06 TONG ENG BUILDING SINGAPORE 069533

POSITION

:

DIRECTOR

DATE OF APPT

:

18/11/2004

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G2889534

 

NAME

:

AJAIB HARI DASS

ADDRESS

:

17 JALAN INSAF THOMSON RISE ESTATE SINGAPORE 578013

POSITION

:

DIRECTOR

DATE OF APPT

:

18/11/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0889104D

 

NAME

:

SEET BENG CHOO JEANNE

ADDRESS

:

22 MALACCA STREET #03-02 ROYAL BROTHERS BUILDING SINGAPORE 048980

POSITION

:

SECRETARY

DATE OF APPT

:

06/10/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1234059A

 

 

KEY PERSONNEL PROFILE

 

Name:

VIRA CHAND BOTHRA

NRIC Number:

G2889534

Available Address:

101 CECIL STREET #08-06 TONG ENG BUILDING  SINGAPORE 69533

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

AV SHIPPING PTE. LTD.

DIRECTOR

13/06/2008

50000

100.00

2

JALDHI OVERSEAS PTE. LTD.

DIRECTOR

18/11/2004

-

-

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

 

Bankruptcy Record

 

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200811324

 

Date of Registration

:

23/12/2008

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

LITIGATION

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

Bef 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

580

 

Date of Filing

:

11/09/2007

 

Amount

:

230,006.63

 

Cause

:

Contract - Sale of Goods & Services

 

Case Status

:

PENDING

 

Plaintiff

:

TANG KHEOK HWA ROSEMARY (NRIC NO. S0194889Z)

 

COMPLIANCE

 

Date of Last AGM

:

31/10/2011

Date of Last AR

:

22/11/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

310,468,271

-10.87

348,321,551

376,844,558

347,072,039

127,514,651

Profit/(Loss) Before Tax

5,715,701

0.27

5,700,191

7,875,278

4,917,388

1,922,317

Profit After Tax attributable to Shareholders

4,973,461

-3.54

5,156,089

6,890,326

4,807,558

1,526,615

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

69,901,638

-1.52

70,983,094

60,900,093

36,287,520

5,505,395

Current Assets

69,778,386

-1.52

70,853,107

60,742,710

36,245,076

5,501,070

Non Current Assets

123,252

-5.18

129,987

157,383

42,444

4,325

 

 

 

 

 

 

 

Total Liabilities

46,119,986

-9.34

50,869,609

46,396,598

31,535,288

3,001,231

Current Liabilities

46,119,986

-9.34

50,869,609

46,243,760

31,535,288

3,001,231

Non Current Liabilities

0

NA

0

152,838

0

0

 

 

 

 

 

 

 

Shareholders' Funds

23,781,652

18.24

20,113,486

14,503,494

4,752,232

2,504,164

Share Capital

7,640,697

-6.49

8,170,963

3,844,482

738,772

778,920

Total Reserves

16,140,955

35.16

11,942,523

10,659,012

4,013,460

1,725,244

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-10.87

-7.57

8.58

172.18

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.60

1.48

1.83

1.39

1.20

Return on Equity (%)

20.91

25.63

47.51

101.16

60.96

Return on Assets (%)

7.11

7.26

11.31

13.25

27.73

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.94

2.53

3.20

6.64

1.20

Current Debt/Equity (Times)

1.94

2.53

3.19

6.64

1.20

Long Term Debt To Equity (Times)

0.00

0.00

0.01

0.00

0.00

Total Asset To Total Equity (Times)

2.94

3.53

4.20

7.64

2.20

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.44

4.91

6.19

9.56

23.16

Fixed Assets Turnover (Times)

2,518.97

2,679.66

2,394.44

8,177.18

29,483.16

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.51

1.39

1.31

1.15

1.83

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 24.91% (4 years).

 

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The company yielded a rate of net profit on sales of 1.60 per cent in FY10 (FY09: 1.48 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.02 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.01 a year ago.

 

Liquidity

 

Current ratio stood at 1.51 times in FY10 (FY09: 1.39 times). This means that the company has SINGAPORE, DOLLARS 1.51 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

FINANCIAL COMMENTARY

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

 

Leverage

Total debt-to-equity ratio notched 1.94 times in FY10, as compared with 2.53 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 1.94 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 20.91 per cent for Subject in the current financial period, as compared to 25.63 per cent a year ago. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

FINANCIAL COMMENTARY

 

Return on assets stood at 7.11 per cent (FY09: 7.26 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 4.44 times in FY10 (FY09: 4.91 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.16

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.