MIRA INFORM REPORT

 

 

Report Date :           

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SHELL EASTERN PETROLEUM (PTE) LTD

 

 

Formerly Known As :

Shell Eastern Petroleum (Pte.) Limited

 

 

Registered Office :

83 Clemenceau Avenue #04-00 Shell House Singapore 239920

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

02.08.1960

 

 

Com. Reg. No.:

196000089g

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of Refined Petroleum Products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

S$1,000,000

 

 

Status :

Good

 

 

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 30th, 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

:

SHELL EASTERN PETROLEUM (PTE) LTD

Registration No

:

196000089G

Date of Registration

:

02/08/1960

Former Name

:

SHELL EASTERN PETROLEUM (PTE.) LIMITED Eff. date : 02/08/1960 Eff. date : 02/08/1960

Date of Change of Name

:

09/05/1994

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

83 CLEMENCEAU AVENUE #04-00 SHELL HOUSE SINGAPORE 239920

Date of Change of Address

:

11/03/1998

Contact No.

:

6384 8000

Fax No.

:

6384 8382

Website

:

www.shell.com.sg

Registered Activities

:

1. MANUFACTURE OF REFINED PETROLEUM PRODUCTS NEC

2. OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES)

TRADING & MARKETING OF PETROLEUM,PETROL CHEMICALS AND ALLIED PRODUCTS

Issued Ordinary Capital*

:

$2,257,605,520.00 U.S. DOLLAR ,NO. OF SHARE : 225,760,552

Issued Preference Capital

:

$259,159,020.00 U.S. DOLLAR NO. OF SHARE : 25,915,902

Paid-Up Ordinary Capital

:

$2,257,605,520.00 U.S. DOLLAR

Paid-Up Preference Capital

:

$259,159,020.00 U.S. DOLLAR

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

13

No. of Local Associates

:

1

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 13,919,941,971.00 (FY2009)

Net Worth

:

SGD - SIN 7,135,902,386.00 (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

24

S1000 / SME 500 / FG50 Ranking

:

10 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

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

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

269 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

4 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

SHELL PETROLEUM N.V.

SHAREHOLDER ID

:

T04UF0258J

NATIONALITY

:

NETHERLANDS

ADDRESS

:

P.O. BOX 162 2501 AN THE HAGUE NEDERLANDS

NO. OF ORD SHARES

NO. OF PREF SHARES

:

225,126,367

24,078,087

% OF SHAREHOLDING

:

99.7%

92.9%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

NEDERLANDSE INTERNATIONALE INDUSTRIES EN HANDEL MAATSCHAPPIJ

SHAREHOLDER ID

:

T04UF0334F

NATIONALITY

:

NA

ADDRESS

:

P O BOX 162 2501 AN THE HAGUE NETHERLANDS

NO. OF ORD SHARES

NO. OF ORD SHARES

:

634,185

1,837,815

% OF SHAREHOLDING

:

1.3%

7.1%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

CHING KOK TIONG

ADDRESS

:

15 WOOLLERTON PARK #01-08 GALLOP GREEN SINGAPORE 257535

POSITION

:

SECRETARY

DATE OF APPT

:

01/06/2008

NATIONALITY

:

MALAYSIAN

I/C PASSPORT

:

G5746953L

 

NAME

:

LEE TZU YANG

ADDRESS

:

1 ASCOT RISE SINGAPORE 289813

POSITION

:

DIRECTOR

DATE OF APPT

:

27/07/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0163771A

 

NAME

:

GOH LIANG CHOO

ADDRESS

:

6 ORANGE GROVE ROAD #04-00 VANTAGE, THE SINGAPORE 258331

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1748329C

 

NAME

:

POH POC HUCK

ADDRESS

:

43 SIXTH AVENUE #04-10 SIXTH AVENUE VILLE SINGAPORE 276484

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2010

NATIONALITY

:

MALAYSIAN

I/C PASSPORT

:

S2504087B

 

NAME

:

KER KIAN KONG

ADDRESS

:

42 KIM YAM ROAD #03-02 OLEANAS RESIDENCE SINGAPORE 239347

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2559250F

 

NAME

:

CHAN SUIT FONG

ADDRESS

:

29 BARKER ROAD SINGAPORE 309905

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2736701A

 

NAME

:

HO TZIN WEN

ADDRESS

:

42 JALAN AMPANG SINGAPORE 268628

POSITION

:

SECRETARY

DATE OF APPT

:

16/01/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6841430Z

 

 

KEY PERSONNEL PROFILE

 

Name:

LEE TZU YANG

NRIC Number:

S0163771A

Available Address:

1 ASCOT RISE  SINGAPORE 289813

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

SHELL EASTERN PETROLEUM (PTE) LTD

DIRECTOR

27/07/2000

-

-

2

SHELL EASTERN TRADING (PTE) LTD

DIRECTOR

27/07/2000

-

-

3

SHELL INDIA VENTURES PTE. LTD.

DIRECTOR

24/06/2003

-

-

4

SHELL SINGAPORE TRUSTEES PTE LTD

DIRECTOR

27/07/2000

-

-

5

SINGAPORE ARTS SCHOOL LTD.

DIRECTOR

17/01/2005

-

-

6

SINGAPORE INTERNATIONAL CHAMBER OF COMMERCE

DIRECTOR

15/06/2000

-

-

7

THE ESPLANADE CO LTD

DIRECTOR

24/11/2003

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

 

1

MAJULAH CONNECTION LIMITED

LIVE COMPANY

SHAREHOLDER

-

14/07/2009

 

2

NATIONAL UNIVERSITY OF SINGAPORE

LIVE COMPANY

DIRECTOR

01/04/2006

14/03/2011

 

3

PSA CORPORATION LIMITED

LIVE COMPANY

DIRECTOR

05/04/2002

31/12/2003

 

4

PSA INTERNATIONAL PTE LTD

LIVE COMPANY

DIRECTOR

01/01/2004

04/04/2005

 

5

SHELL GLOBAL SOLUTIONS (SINGAPORE) (PTE) LTD

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

02/03/2002

-

 

6

SHELL OIL PRODUCTS -EAST

CEASED

MANAGER

18/06/1999

04/04/2001

 

7

SINGAPORE ARTS SCHOOL LTD.

LIVE COMPANY

SHAREHOLDER

-

15/11/2010

 

8

SOLARWORLD ASIA PACIFIC PTE. LTD.

LIVE COMPANY

DIRECTOR

25/02/2002

01/07/2006

 

9

THE INSTITUTE OF POLICY STUDIES

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

13/03/2002

11/12/2007

10

THE OLD PARLIAMENT HOUSE LIMITED

LIVE COMPANY

DIRECTOR

01/04/2005

31/03/2007

 

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 (%)

ETHYLENE GLYCOLS (SINGAPORE) PRIVATE LIMITED

100

SHELL SINGAPORE TRUSTEES PTE LTD

100

SHELL CHEMICALS SERAYA PTE. LTD.

100

SHELL SERAYA PIONEER (PTE) LTD

100

SHELL TREASURY CENTRE EAST (PTE) LTD

100

SHELL INTERNATIONAL SHIPPING SERVICES (PTE) LTD

100

SHELL TANKERS (SINGAPORE) PRIVATE LIMITED

100

SHELL EASTERN TRADING (PTE) LTD

92.77

QPI AND SHELL PETROCHEMICALS (SINGAPORE) PTE. LTD.

51

INFINEUM SINGAPORE PTE. LTD.

50

SHELL AVIATION

NA (SOLE-PROPRIETOR)

SHELL CHEMICALS

NA (SOLE-PROPRIETOR)

SHELL UPSTREAM INTERNATIONAL ASIA

NA (SOLE-PROPRIETOR)

SHELL AUTOSERV

NA (SOLE-PROPRIETOR)

                                                                                                                       

 

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

 

             

LITIGATION

 

The following litigation suits were traced against Subject. Case status is as per available database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered.

 

To date, there have been 24 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

12

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

0

10

High (>$250,000)

0

2

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

9678

 

Date of Filing

:

14/06/2000

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)

 

Case Status

:

PENDING

 

Plaintiff

:

LIM LEONG BENG

 

Last Update Date

:

07/12/2001

 

2)

Court

:

District Court

 

Case No.

:

3852

 

Date of Filing

:

01/10/2001

 

Amount

:

103,507.65

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SLCO PTE LTD FORMERLY KNOWN AS FUKAGYO PETROLEUM (SINGAPORE) PTE

 

Last Update Date

:

22/03/2006

 

3)

Court

:

Magistrate Court

 

Case No.

:

39137

 

Date of Filing

:

13/12/2001

 

Amount

:

0.00

 

Cause

:

Negligence - Others (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CHEE CHYE SENG

 

Last Update Date

:

22/03/2006

 

4)

Court

:

District Court

 

Case No.

:

1328

 

Date of Filing

:

01/04/2002

 

Amount

:

62,060.06

 

Cause

:

MISCELLANEOUS

 

Case Status

:

PENDING

 

Plaintiff

:

CHIAM WENG WAH

 

Last Update Date

:

04/04/2002

 

5)

Court

:

Magistrate Court

 

Case No.

:

39105

 

Date of Filing

:

27/12/2002

 

Amount

:

3,468.24

 

Cause

:

NEGLIGENCE-MOTOR ACCIDENTS(NOT INJURIES/DEATH)

 

Case Status

:

PENDING

 

Plaintiff

:

TAY TEE GEE

 

Last Update Date

:

28/12/2002

 

6)

Court

:

District Court

 

Case No.

:

3735

 

Date of Filing

:

15/08/2003

 

Amount

:

1,042.90

 

Cause

:

Negligence - Others (Injuries)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KUAN CHEE KWONG ALVIN DARWIN

HO CHIN CHIN

 

Last Update Date

:

13/09/2005

 

7)

Court

:

District Court

 

Case No.

:

5048

 

Date of Filing

:

03/11/2003

 

Amount

:

0.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TAN KWANG LAM NEE THAM LOON PAN BESSIE T/A THE BESS FUEL

 

Last Update Date

:

23/02/2011

 

8)

Court

:

Supreme Court

 

Case No.

:

689

 

Date of Filing

:

04/07/2003

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-INDUSTRIAL(INJURIES)

 

Case Status

:

PENDING

 

Plaintiff

:

TANG WENG WAH

 

Last Update Date

:

29/03/2004

 

9)

Court

:

Magistrate Court

 

Case No.

:

26028

 

Date of Filing

:

24/07/2003

 

Amount

:

0.00

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TAN KWANG LAM NEE THAM LOON PAN BESSIE T/A THE BESS FUEL

 

Last Update Date

:

07/01/2008

 

10)

Court

:

Magistrate Court

 

Case No.

:

42107

 

Date of Filing

:

15/12/2003

 

Amount

:

11,403.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

SOON CHEE GUAN

 

Last Update Date

:

07/01/2008

 

11)

Court

:

Magistrate Court

 

Case No.

:

11627

 

Date of Filing

:

17/05/2005

 

Amount

:

1,151.25

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

YEO SOCK KEE @ MOHD NAZREEN YEO

 

Last Update Date

:

19/05/2005

 

12)

Court

:

District Court

 

Case No.

:

2657

 

Date of Filing

:

14/07/2006

 

Amount

:

134,413.92

 

Cause

:

Contract - Others

 

Case Status

:

PENDING

 

Plaintiff

:

CHOONG CHOON YEAN

 

Last Update Date

:

02/01/2008

 

13)

Court

:

District Court

 

Case No.

:

2663

 

Date of Filing

:

14/07/2006

 

Amount

:

228,299.60

 

Cause

:

Restitution

 

Case Status

:

PENDING

 

Plaintiff

:

LEE KYE JIN

 

Last Update Date

:

02/01/2008

 

14)

Court

:

District Court

 

Case No.

:

2664

 

Date of Filing

:

14/07/2006

 

Amount

:

93,396.08

 

Cause

:

Restitution

 

Case Status

:

PENDING

 

Plaintiff

:

BUKIT PANJANG PETROL SUPPLY PTE LTD

 

Last Update Date

:

02/01/2008

 

15)

Court

:

Magistrate Court

 

Case No.

:

16969

 

Date of Filing

:

14/07/2006

 

Amount

:

44,040.91

 

Cause

:

Contract - Others

 

Case Status

:

PENDING

 

Plaintiff

:

KWANG HUA SENG PETROL STATION (A FIRM)

 

Last Update Date

:

02/01/2008

 

16)

Court

:

Magistrate Court

 

Case No.

:

30029

 

Date of Filing

:

12/12/2006

 

Amount

:

3,227.30

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LER SIEW KEE

 

Last Update Date

:

02/01/2008

 

17)

Court

:

District Court

 

Case No.

:

497

 

Date of Filing

:

14/02/2007

 

Amount

:

70,000.00

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ESA SALAM INSAN ALI

 

Last Update Date

:

19/11/2007

 

18)

Court

:

District Court

 

Case No.

:

3688

 

Date of Filing

:

06/11/2010

 

Amount

:

200,000.00

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

DON CHRISTOPHER JOSEPH WEERASEKERA

 

Last Update Date

:

08/11/2010

 

 

19)

Court

:

District Court

 

Case No.

:

3788

 

Date of Filing

:

16/11/2010

 

Amount

:

0.00

 

Cause

:

Tort - Negligence (Industrial Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

VAIRAVAN S/O RAMASAMY MARIMUTHU THEVAR

 

Last Update Date

:

18/11/2010

 

20)

Court

:

Supreme Court

 

Case No.

:

118

 

Date of Filing

:

17/01/1997

 

Amount

:

0.00

 

Cause

:

IP-COPYRIGHT

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ATLANTA CENTENNIAL OLYMPIC PROPERTIES

ATLANTA COMMITTEE FOR THE OLYMPIC GAMES INC

 

Last Update Date

:

12/12/2002

 

21)

Court

:

Magistrate Court

 

Case No.

:

12210

 

Date of Filing

:

25/06/1997

 

Amount

:

0.00

 

Cause

:

CONTRACTS-GENERAL

 

Case Status

:

PENDING

 

Plaintiff

:

YOO AH JI

 

Last Update Date

:

07/12/2001

 

22)

Court

:

Magistrate Court

 

Case No.

:

19474

 

Date of Filing

:

29/09/1997

 

Amount

:

0.00

 

Cause

:

CONTRACTS-GENERAL

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KUNG SIAK YONG

 

Last Update Date

:

07/12/2001

 

23)

Court

:

Magistrate Court

 

Case No.

:

15619

 

Date of Filing

:

26/06/1998

 

Amount

:

0.00

 

Cause

:

NEGLIGENCE-OTHERS(INJURIES)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

MEGHAN ALANE CONRAD, AN INFANT, SUING BY HER FATHE

 

Last Update Date

:

07/12/2001

 

 

24)

Court

:

Magistrate Court

 

Case No.

:

4203

 

Date of Filing

:

19/02/1999

 

Amount

:

13,058.40

 

Cause

:

CONTRACTS-SALE OF GOODS

 

Case Status

:

PENDING

 

Plaintiff

:

M O TRANS MARKETING SERVICES (SUING AS A FIRM)

 

Last Update Date

:

07/12/2001

 

 

COMPLIANCE

 

Date of Last AGM

:

22/06/2010

Date of Last AR

:

21/07/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

13,919,941,971

-45.97

25,763,565,381

21,623,468,541

19,707,606,290

18,277,854,472

Profit/(Loss) Before Tax

2,213,759,314

NA

(625,308,846)

3,187,741,861

1,859,778,838

2,198,403,821

Profit After Tax attributable to Shareholders

2,199,362,228

NA

(436,602,227)

3,155,294,349

1,715,860,129

1,889,654,331

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

15,340,805,134

31.34

11,680,581,576

11,749,760,213

9,425,152,987

9,538,509,614

Current Assets

3,769,862,538

58.86

2,373,007,385

4,732,576,388

3,373,677,174

3,415,427,183

Non Current Assets

11,570,942,596

24.32

9,307,574,191

7,017,183,825

6,051,475,813

6,123,082,431

 

 

 

 

 

 

 

Total Liabilities

8,204,902,749

26.50

6,485,861,235

5,689,376,778

3,782,820,946

3,480,013,088

Current Liabilities

3,709,620,032

15.67

3,207,101,024

4,319,819,519

3,182,100,304

2,633,415,458

Non Current Liabilities

4,495,282,717

37.10

3,278,760,211

1,369,557,259

600,720,642

846,597,630

 

 

 

 

 

 

 

Shareholders' Funds

7,135,902,386

37.37

5,194,720,342

6,060,383,434

5,642,332,042

6,058,496,525

Share Capital

3,989,965,955

45.61

2,740,104,984

2,692,680,648

2,839,011,294

2,986,313,201

Total Reserves

3,145,936,431

28.16

2,454,615,358

3,367,702,786

2,803,320,748

3,072,183,324

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-45.97

19.15

9.72

7.82

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

15.80

-1.69

14.59

8.71

10.34

Return on Equity (%)

30.82

-8.40

52.06

30.41

31.19

Return on Assets (%)

14.34

-3.74

26.85

18.21

19.81

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.15

1.25

0.94

0.67

0.57

Current Debt/Equity (Times)

0.52

0.62

0.71

0.56

0.43

Long Term Debt To Equity (Times)

0.63

0.63

0.23

0.11

0.14

Total Asset To Total Equity (Times)

2.15

2.25

1.94

1.67

1.57

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.91

2.21

1.84

2.09

1.92

Fixed Assets Turnover (Times)

1.20

2.77

3.08

3.26

2.99

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.02

0.74

1.10

1.06

1.30

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 15.80 per cent in FY09. The company is now able to book in SGD - SIN 0.16 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.02 times in FY09 (FY08: 0.74 times). This means that the company has SGD - SIN 1.02 of current assets for every SGD - SIN of current liability incurred.

 

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 1.15 times in FY09, as compared with 1.25 times in FY08. This means that the company requires additional external financing of SGD - SIN 1.15 for every SGD - SIN 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 30.82 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 14.34 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 0.91 times in FY09 (FY08: 2.21 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.52.72

UK Pound

1

Rs.82.71

Euro

1

Rs.68.90

 

 

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

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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.