MIRA INFORM REPORT

 

 

Report Date :

03.06.2011

 

IDENTIFICATION DETAILS

 

Name :

NATURAL FOREST PTE. LTD.

 

 

Registered Office :

133 Cecil Street #10-01(B) Keck Seng Tower Singapore 069535

 

 

Country :

Singapore

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

27.08.2007

 

 

Com. Reg. No.:

200715726R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of logs, sawn timber, plywood and related products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$17,000

Status :

Moderate

Payment Behaviour :

Unknown

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

:

NATURAL FOREST PTE. LTD.

Registration No

:

200715726R

Date of Registration

:

27/08/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

133 CECIL STREET #10-01(B) KECK SENG TOWER SINGAPORE 069535

Date of Change of Address

:

25/06/2010

Contact No.

:

62385920

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. WHOLESALE OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS

TRADING OF TIMBER AND WOOD PRODUCTS ETC

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 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

:

C.S.CHAN & CO

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 144,197,788.02 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 341,923.67 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

1649 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$17,000

 

SHAREHOLDER DETAILS

 

NAME

:

SENT OVERSEAS INVESTMENT PTE. LTD.

SHAREHOLDER ID

:

200715725E

NATIONALITY

:

SINGAPORE

ADDRESS

:

133 CECIL STREET #10-01(B) KECK SENG TOWER SINGAPORE 069535

NO. OF ORD SHARES

:

100,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

YONG ING FATT

ADDRESS

:

12 WIMBORNE ROAD SINGAPORE 436641

POSITION

:

DIRECTOR

DATE OF APPT

:

27/08/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0203127B

 

NAME

:

TING TIEW ANN

ADDRESS

:

12 WIMBORNE ROAD SINGAPORE 436641

POSITION

:

DIRECTOR

DATE OF APPT

:

27/08/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2505336B

 

NAME

:

TAN HWEE BIN

ADDRESS

:

120 JURONG EAST STREET 13 #01-83 IVORY HEIGHTS SINGAPORE 600120

POSITION

:

SECRETARY

DATE OF APPT

:

27/08/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6814026I

KEY PERSONNEL PROFILE

 

Name:

YONG ING FATT

NRIC Number:

S0203127B

Available Address:

12 WIMBORNE ROAD  SINGAPORE 436641

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

EVERGREEN TEAK TRADING PTE LTD

DIRECTOR

16/12/1994

400000

80.00

2

EVERGREEN TEAK TRADING PTE LTD

MANAGING DIRECTOR

16/12/1994

400000

80.00

3

NATURAL FOREST PTE. LTD.

DIRECTOR

27/08/2007

-

-

4

SENT OVERSEAS INVESTMENT PTE. LTD.

DIRECTOR

27/08/2007

-

-

 

 

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 are no bank charges registered against Subject by its bankers.

             

 

LITIGATION

 

Clear

 

COMPLIANCE

 

Date of Last AGM

:

28/02/2011

Date of Last AR

:

16/03/2011

Date of A/C Laid At Last AGM

:

31/07/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUL 2010

% Change

JUL 2009

JUL 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

Turnover

144,197,788

35.94

106,077,906

37,845,028

Profit/(Loss) Before Tax

104,701

-32.38

154,828

77,119

Profit After Tax attributable to Shareholders

104,505

-30.56

150,496

77,119

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

26,056,678

-35.17

40,191,583

23,134,417

Current Assets

26,042,554

-35.18

40,179,428

23,132,315

Non Current Assets

14,124

16.20

12,155

2,102

 

 

 

 

 

Total Liabilities

25,714,754

-35.56

39,907,861

22,950,981

Current Liabilities

25,714,754

-35.56

39,907,861

22,950,981

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

341,924

20.51

283,723

183,436

Share Capital

105,038

-4.97

110,528

106,317

Total Reserves

236,886

36.77

173,195

77,119

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

JUL 2010

JUL 2009

JUL 2008

Growth %

 

 

 

Year-on-Year Growth

35.94

180.30

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

0.07

0.14

0.20

Return on Equity (%)

30.56

53.04

42.04

Return on Assets (%)

0.40

0.37

0.33

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

75.21

140.66

125.12

Current Debt/Equity (Times)

75.21

140.66

125.12

Long Term Debt To Equity (Times)

0.00

0.00

0.00

Total Asset To Total Equity (Times)

76.21

141.66

126.12

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

5.53

2.64

1.64

Fixed Assets Turnover (Times)

10,209.39

8,727.04

18,004.29

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.01

1.01

1.01

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.07 per cent in FY10 (FY09: 0.14 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.01 times in FY10 (FY09: 1.01 times). This means that the company has SINGAPORE, DOLLARS 1.01 of current assets for every SINGAPORE, DOLLARS 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 75.21 times in FY10, as compared with 140.66 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 75.21 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 30.56 per cent for Subject in the current financial period, as compared to 53.04 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 0.40 per cent (FY09: 0.37 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 5.53 times in FY10 (FY09: 2.64 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.44.94

UK Pound

1

Rs.73.46

Euro

1

Rs.64.58

 

 

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.