MIRA INFORM REPORT

 

 

Report Date :           

04.06.2011

 

IDENTIFICATION DETAILS

 

Name :

NOBLE RESOURCES PTE. LTD.

 

 

Formerly Known As :

Noble Grain Pte Ltd Eff.

 

 

Registered Office :

60 Anson Road #19-01 Mapletree Anson Singapore 079914

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

17.03.2001

 

 

Com. Reg. No.:

200101811w

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Investment Holding Companies

 

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 :

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

:

NOBLE RESOURCES PTE. LTD.

Registration No

:

200101811W

Date of Registration

:

17/03/2001

Former Name

:

1.BERKHAM PTE LTD Eff. date : 17/03/2001 Eff. date : 17/03/2001

2.NOBLE GRAIN PTE LTD Eff. date : 06/04/2001 Eff. date : 06/04/2001

Date of Change of Name

:

15/11/2005

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

60 ANSON ROAD #19-01 MAPLETREE ANSON SINGAPORE 079914

Date of Change of Address

:

18/01/2010

Contact No.

:

6100 6118

Fax No.

:

6305 4889

Website

:

www.thisisnoble.com

Registered Activities

:

1. OTHER INVESTMENT HOLDING COMPANIES

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

Issued Ordinary Capital*

:

$302,885,002.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 287,810,092

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$302,885,002.00 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

:

13

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

NATIXIS HONG KONG BRANCH

Turnover

:

SGD - SIN 7,210,198,566.00 (FY2009)

Net Worth

:

SGD - SIN 208,277,552.00 (FY2009)

No. of Bank Charges

:

2

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

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

87 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2004/2005)

Compounded Annual Growth Rate (CAGR)

:

26.02% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

NOBLE RESOURCES GROUP LIMITED

SHAREHOLDER ID

:

T03UF0001C

NATIONALITY

:

VIRGIN ISLANDS, BRITISH

ADDRESS

:

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

NO. OF ORD SHARES

:

287,810,092

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

RICHARD SAMUEL ELMAN

ADDRESS

:

18TH FLOOR, MASSMUTUAL TOWER 38 GLOUCESTER ROAD, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

30/03/2001

NATIONALITY

:

BRITISH

I/C PASSPORT

:

761251420

 

NAME

:

WILHELMUS DIEDERIK DE BLANK @ WILDRIK DE BLANK

ADDRESS

:

FLAT 1B, PINE COURT, 5 OLD PEAK ROAD, MID-LEVELS, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

23/08/2002

NATIONALITY

:

DUTCH

I/C PASSPORT

:

BEDF5H7L1

 

NAME

:

WILLIAM JAMES RANDALL

ADDRESS

:

5 CLUNY PARK SINGAPORE 259612

POSITION

:

DIRECTOR

DATE OF APPT

:

30/11/2006

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

G5933539T

 

NAME

:

NEIL TIMOTHY DHAR

ADDRESS

:

6 DRAYCOTT PARK #03-03 DRAYCOTT EIGHT SINGAPORE 259403

POSITION

:

DIRECTOR

DATE OF APPT

:

09/03/2011

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

G6385595U

 

NAME

:

CHIA LUANG CHEW HAZEL

ADDRESS

:

729 CLEMENTI WEST STREET 2 #10-354 SINGAPORE 120729

POSITION

:

 

SECRETARY

DATE OF APPT

:

 

16/10/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1407126A

 

NAME

:

LEENDERT TAMEERIS

ADDRESS

:

16 STIRLING ROAD #38-15 QUEENS SINGAPORE 148957

POSITION

:

DIRECTOR

DATE OF APPT

:

18/12/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2700847Z

 

NAME

:

ASRANI MAHESH MANOHARLAL

ADDRESS

:

160 SIXTH AVENUE #03-03 SIXTH AVENUE RESIDENCES, THE SINGAPORE 276537

POSITION

:

DIRECTOR

DATE OF APPT

:

03/05/2004

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2725737B

 

KEY PERSONNEL PROFILE

 

Name:

RICHARD SAMUEL ELMAN

NRIC Number:

761251420

Available Address:

18TH FLOOR, MASSMUTUAL TOWER 38 GLOUCESTER ROAD, HONG KONG

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

NOBLE RESOURCES PTE. LTD.

DIRECTOR

30/03/2001

-

-

 

 

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 (%)

SINO AGRI-TRADE PTE LTD

100

GREAT WALL INVESTMENTS PTE. LTD.

100

NOBLE GAS AND POWER PTE. LTD.

100

NOBLE PROTEIN AND FEED CO. PTE. LTD.

100

NOBLE PLANTATIONS PTE. LTD.

100

NHCL PTE. LTD.

100

ENERGY COAL MARKETING ASIA PTE. LTD.

100

NOBLE PETROLEUM

NA (SOLE-PROPRIETOR)

NOBLE PETROCHEMICALS

NA (SOLE-PROPRIETOR)

NOBLE ENERGY

NA (SOLE-PROPRIETOR)

NOBLE COTTON

NA (SOLE-PROPRIETOR)

NOBLE COFFEE TRADING

NA (SOLE-PROPRIETOR)

NOBLE CLEAN FUELS

NA (SOLE-PROPRIETOR)

                                                                                                                       

 

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200806795

 

Date of Registration

:

22/07/2008

 

Chargee

:

NATIXIS HONG KONG BRANCH

 

Address

:

---

 

2)

Charge No.

:

C200806793

 

Date of Registration

:

22/07/2008

 

Chargee

:

NATIXIS HONG KONG BRANCH

 

Address

:

---

 

             

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/09/2010

Date of Last AR

:

29/10/2010

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

7,210,198,566

-10.12

8,022,297,310

4,403,001,391

2,240,660,728

2,858,499,568

Profit/(Loss) Before Tax

(110,083,722)

NA

619,708,686

55,485,635

11,804,433

(28,994,999)

Profit After Tax attributable to Shareholders

(107,119,616)

NA

584,081,567

51,867,334

10,774,654

(27,728,478)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,674,487,889

-1.34

2,710,928,844

1,784,449,348

441,225,341

263,319,714

Current Assets

2,280,827,849

-10.79

2,556,621,796

1,595,314,946

361,645,624

254,674,044

Non Current Assets

393,660,040

155.11

154,307,048

189,134,402

79,579,717

8,645,670

 

 

 

 

 

 

 

Total Liabilities

2,466,210,338

14.46

2,154,601,155

1,816,539,236

475,219,128

324,087,726

Current Liabilities

2,466,210,338

17.15

2,105,217,030

1,763,947,641

419,769,503

265,761,101

Non Current Liabilities

0

-100.00

49,384,125

52,591,595

55,449,625

58,326,625

 

 

 

 

 

 

 

Shareholders' Funds

208,277,552

-62.56

556,327,689

(32,089,889)

(33,993,789)

(60,768,012)

Share Capital

189,090,168

1,380.98

12,767,913

13,597,181

14,336,104

0

Total Reserves

19,187,384

-96.47

543,559,776

(45,687,070)

(48,329,893)

(60,768,012)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

DEC 2005

Growth %

 

 

 

 

 

Year-on-Year Growth

-10.12

82.20

96.50

-21.61

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-1.49

7.28

1.18

0.48

-0.97

Return on Equity (%)

-51.43

104.99

-161.63

-31.70

45.63

Return on Assets (%)

-4.01

21.55

2.91

2.44

-10.53

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

11.84

3.87

-56.61

-13.98

-5.33

Current Debt/Equity (Times)

11.84

3.78

0.00

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.09

0.00

0.00

0.00

Total Asset To Total Equity (Times)

12.84

4.87

-55.61

-12.98

-4.33

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.70

2.96

2.47

5.08

10.86

Fixed Assets Turnover (Times)

18.32

51.99

23.28

28.16

330.63

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.92

1.21

0.90

0.86

0.96

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 26.02% (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

We are unable to comment on Subject's profitability as Subject posted losses for FY09.

 

 

Liquidity

 

Current ratio stood at 0.92 times in FY09 (FY08: 1.21 times). This means that the company has SGD - SIN 0.92 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 11.84 times in FY09, as compared with 3.87 times in FY08. This means that the company requires additional external financing of SGD - SIN 11.84 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

 

 

We are unable to comment on Subject's return on equity as Subject posted losses for FY09.

 

We are unable to comment on Subject's return on assets as Subject posted losses for FY09.

 

Total assets turnover ratio logged at 2.70 times in FY09 (FY08: 2.96 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.44.85

UK Pound

1

Rs.73.29

Euro

1

Rs.64.89

 

 

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%)

 

 

 

 

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