MIRA
INFORM REPORT
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Report Date : |
03.01.2011 |
IDENTIFICATION DETAILS
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Name : |
CARGILL INTERNATIONAL TRADING PTE LTD |
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Formerly Known As : |
CARGILL COMMODITY TRADING PTE. LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.05.2009 |
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Date of Incorporation : |
05.12.1967 |
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Com. Reg. No.: |
196700442D |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Commodity and futures brokers and dealers |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
S$1,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Executive
Summary
Credit Rating &
Recommendation
|
Recommended Credit Line |
: |
S$1,000,000 |
SHAREHOLDER DETAILS
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: |
CARGILL |
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SHAREHOLDER ID |
: |
200401312G |
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NATIONALITY |
: |
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ADDRESS |
: |
300 BEACH ROAD #23-01 CONCOURSE, THE |
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NO. OF ORD SHARES |
: |
1,650,000 145,565 |
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CURRENCY |
: |
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OFFICER DETAILS
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: |
SYED MUNIR-UL
HASAN |
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ADDRESS |
: |
99 MEYER ROAD
#27-02 SOVEREIGN, THE |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
21/04/1994 |
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NATIONALITY |
: |
PAKISTANI |
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I/C PASSPORT |
: |
003270 |
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NAME |
: |
JERAL SYLVESTER
D'SOUZA |
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ADDRESS |
: |
19 BINJAI WALK
BINJAI PARK |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
06/08/1997 |
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NATIONALITY |
: |
BRITISH |
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I/C PASSPORT |
: |
500024487 |
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NAME |
: |
PAUL JOHN
HICKMAN |
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ADDRESS |
: |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
23/01/2006 |
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NATIONALITY |
: |
BRITISH |
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I/C PASSPORT |
: |
761033346 |
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NAME |
: |
MARIAN VERONICA
PESTANA |
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ADDRESS |
: |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
24/06/1985 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S1419613G |
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NAME |
: |
LYE PENG YEE |
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ADDRESS |
: |
18A JALAN TUA
KONG |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
02/06/2003 |
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NATIONALITY |
: |
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I/C PASSPORT |
: |
S2501597E |
KEY PERSONNEL PROFILE
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SYED MUNIR-UL HASAN |
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NRIC Number: |
003270 |
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Available Address: |
99 MEYER ROAD #27-02
SOVEREIGN, THE |
Current Business Interest
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No. |
Name |
Position |
Appt Date |
#of Share |
% |
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CARGILL INTERNATIONAL TRADING
PTE LTD |
DIRECTOR |
21/04/1994 |
- |
- |
Previous Business
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No. |
Name |
Status |
Position |
Appt Date |
Last Known
Inactive Date |
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Bankruptcy Record
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Case No. |
Year |
Date of Filing |
Petitioner Name |
Amount |
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Litigation Search – Writ of Summons
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Court |
Case No. |
Year |
Date of Filing |
Amount |
Cause Category |
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SUBSIDIARIES AND ASSOCIATE
COMPANIES
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Company |
Shareholdings (%) |
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50 |
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100 |
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
Clear
COMPLIANCE
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Date of Last AGM |
: |
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Date of Last AR |
: |
16/10/2009 |
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Date of A/C Laid At Last AGM |
: |
31/05/2009 |
FINANCIAL HIGHLIGHTS
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Financial
Figures |
||||
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MAY 2007 |
% Change |
MAY 2006 |
MAY 2005 |
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Currency |
SGD - SIN |
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SGD - SIN |
SGD - SIN |
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Profit and Loss
Key Figures |
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9,228,226,340 |
13.56 |
8,125,958,199 |
5,957,445,851 |
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Profit/(Loss)
Before Tax |
121,149,671 |
78.01 |
68,057,637 |
29,406,888 |
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Profit After Tax
attributable to Shareholders |
109,794,811 |
124.36 |
48,936,641 |
18,858,642 |
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Balance Sheet
Key Figures |
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Total Assets |
1,958,568,303 |
32.26 |
1,480,894,280 |
914,187,914 |
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Current Assets |
1,925,687,824 |
32.40 |
1,454,414,392 |
901,178,336 |
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Non Current
Assets |
32,880,479 |
24.17 |
26,479,888 |
13,009,578 |
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Total
Liabilities |
1,642,137,968 |
29.93 |
1,263,905,572 |
745,114,720 |
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Current
Liabilities |
1,634,358,569 |
30.41 |
1,253,261,893 |
744,989,707 |
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Non Current
Liabilities |
7,779,399 |
-26.91 |
10,643,679 |
125,013 |
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Shareholders'
Funds |
316,430,336 |
45.83 |
216,988,708 |
169,073,194 |
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Share Capital |
11,902,974 |
-6.08 |
12,673,032 |
12,795,084 |
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Total Reserves |
304,527,362 |
49.05 |
204,315,676 |
156,278,110 |
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FINANCIAL RATIOS
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MAY 2007 |
MAY 2006 |
MAY 2005 |
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Growth % |
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13.56 |
36.40 |
NA |
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Profitability |
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Profit Margin (%) |
1.19 |
0.60 |
0.32 |
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Return on Equity (%) |
34.70 |
22.55 |
11.15 |
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Return on Assets (%) |
5.61 |
3.30 |
2.06 |
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Leverage |
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Total Debt/Equity (Times) |
5.19 |
5.82 |
4.41 |
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Current Debt/Equity (Times) |
5.16 |
5.78 |
4.41 |
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Long Term Debt To Equity (Times) |
0.02 |
0.05 |
0.00 |
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Total Asset To Total Equity (Times) |
6.19 |
6.82 |
5.41 |
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Asset Management |
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Total Assets Turnover (Times) |
4.71 |
5.49 |
6.52 |
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Fixed Assets Turnover (Times) |
280.66 |
306.87 |
457.93 |
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Liquidity |
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Current Ratio (Times) |
1.18 |
1.16 |
1.21 |
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FINANCIAL HIGHLIGHTS
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Financial
Figures |
||||||
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MAY 2009 |
% Change |
MAY 2008 |
MAY 2007 |
MAY 2006 |
MAY 2005 |
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Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
|
SGD - SIN |
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Profit and Loss
Key Figures |
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12,606,820,175 |
1.96 |
12,364,567,750 |
9,144,939,965 |
0 |
5,792,180,100 |
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Profit/(Loss)
Before Tax |
230,501,893 |
52.87 |
150,779,536 |
98,113,274 |
0 |
20,817,121 |
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Profit After Tax
attributable to Shareholders |
220,643,977 |
55.69 |
141,723,074 |
95,958,775 |
0 |
13,481,693 |
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Balance Sheet
Key Figures |
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Total Assets |
1,934,052,166 |
-17.84 |
2,353,874,743 |
1,728,016,987 |
864,299,689 |
810,781,583 |
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Current Assets |
1,898,909,648 |
-18.13 |
2,319,448,015 |
1,690,436,075 |
863,272,766 |
797,139,584 |
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Non Current
Assets |
35,142,518 |
2.08 |
34,426,728 |
37,580,912 |
1,026,923 |
13,641,999 |
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Total
Liabilities |
1,318,895,708 |
-32.82 |
1,963,245,441 |
1,458,244,458 |
754,976,427 |
652,632,572 |
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Current
Liabilities |
1,309,875,296 |
-32.88 |
1,951,487,275 |
1,450,814,950 |
754,976,427 |
652,574,233 |
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Non Current
Liabilities |
9,020,412 |
-23.28 |
11,758,166 |
7,429,508 |
0 |
58,339 |
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Shareholders'
Funds |
615,156,457 |
57.48 |
390,629,301 |
269,772,529 |
0 |
158,149,011 |
|
Share Capital |
11,205,718 |
1.11 |
11,083,090 |
11,902,974 |
7,676,243 |
12,795,084 |
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Total Reserves |
603,950,739 |
59.12 |
379,546,211 |
257,869,555 |
(103,161,709) |
145,353,927 |
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FINANCIAL RATIOS
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MAY 2009 |
MAY 2008 |
MAY 2007 |
MAY 2006 |
MAY 2005 |
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Growth % |
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|
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|
1.96 |
35.21 |
NA |
-100.00 |
NA |
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Profitability |
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Profit Margin (%) |
1.75 |
1.15 |
1.05 |
NA |
0.23 |
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Return on Equity (%) |
35.87 |
36.28 |
35.57 |
NA |
8.52 |
|
Return on Assets (%) |
11.41 |
6.02 |
5.55 |
NA |
1.66 |
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Leverage |
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Total Debt/Equity (Times) |
2.14 |
5.03 |
5.41 |
NA |
4.13 |
|
Current Debt/Equity (Times) |
2.13 |
5.00 |
5.38 |
NA |
4.13 |
|
Long Term Debt To Equity (Times) |
0.01 |
0.03 |
0.03 |
NA |
0.00 |
|
Total Asset To Total Equity (Times) |
3.14 |
6.03 |
6.41 |
NA |
5.13 |
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Asset Management |
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Total Assets Turnover (Times) |
6.52 |
5.25 |
5.29 |
NA |
7.14 |
|
Fixed Assets Turnover (Times) |
358.73 |
359.16 |
243.34 |
NA |
424.58 |
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Liquidity |
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Current Ratio (Times) |
1.45 |
1.19 |
1.17 |
1.14 |
1.22 |
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FINANCIAL
COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 21.46% (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 1.75 per cent in FY09 (FY08: 1.15 per cent). The company is now able
to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY09, as
compared with SGD - SIN 0.01 a year ago.
Liquidity
Current ratio stood at 1.45 times in FY09
(FY08: 1.19 times). This means that the company has SGD - SIN 1.45 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 2.14
times in FY09, compared with 5.03 times in FY08. This means that the company
requires additional external financing of SGD - SIN 2.14 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 35.87 per cent for Subject in the current financial period, as
compared to 36.28 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.
Return on assets stood at 11.41 per cent (FY08: 6.02 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 6.52 times in FY09 (FY08: 5.25
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.
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.81 |
|
|
1 |
Rs.59.81 |
|
Euro |
1 |
Rs.69.29 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.