MIRA INFORM REPORT

 

 

Report Date :           

14.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

 

 

Registered Office :

77 Robinson Road #28-00 Robinson 77 Singapore 068896

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.02.2003

 

 

Com. Reg. No.:

200301302k

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Commodity and Futures Brokers and Dealers

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

S$1,000,000

Status :

Good

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 – 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

:

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

Registration No

:

200301302K

Date of Registration

:

14/02/2003

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

77 ROBINSON ROAD #28-00 ROBINSON 77 SINGAPORE 068896

Date of Change of Address

:

19/07/2004

Contact No.

:

62270090

Fax No.

:

62277335

Website

:

NA

Registered Activities

:

1. COMMODITY AND FUTURES BROKERS AND DEALERS

2. OTHER PERSONAL SERVICE ACTIVITIES NEC

Issued Ordinary Capital*

:

$2,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 2,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$2,000,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 8,493,011,778.00 (FY2010)

Net Worth

:

SGD - SIN 30,907,202.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

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

Compounded Annual Growth Rate (CAGR)

:

16.94% (4 years)

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

BUNGE GLOBAL MARKETS, LTD.

SHAREHOLDER ID

:

T04UF0456K

NATIONALITY

:

BERMUDA

ADDRESS

:

CLARENDON HOUSE, 2 CHURCH STREET HAMILTON HM 11, BERMUDA

NO. OF ORD SHARES

:

2,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

FRANS HENDRIK JOHAN MARIE MOL

ADDRESS

:

3 EVERTON ROAD SINGAPORE 089360

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

01/11/2011

01/11/2011

NATIONALITY

:

DUTCH

I/C PASSPORT

:

F1663460M

 

NAME

:

MICHAEL DAVID GOETTL

ADDRESS

:

12 HARLYN ROAD DUNEARN ESTATE SINGAPORE 299453

POSITION

:

DIRECTOR

DATE OF APPT

:

31/08/2010

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

F2008706N

 

NAME

:

CHRISTOPHER SILVA WHITE

ADDRESS

:

15A SWETTENHAM ROAD SINGAPORE 248103

POSITION

:

DIRECTOR

DATE OF APPT

:

06/06/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5704709M

 

NAME

:

CHEW YEW LENG

ADDRESS

:

45 JALAN GELENGGANG SEMBAWANG HILLS ESTATE SINGAPORE 578219

POSITION

:

DIRECTOR

DATE OF APPT

:

24/03/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1694550A

 

NAME

:

CHOONG MOH HUAT

ADDRESS

:

2 KITCHENER LINK #19-05 CITY SQUARE RESIDENCES SINGAPORE 207229

POSITION

:

DIRECTOR

DATE OF APPT

:

13/06/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2599756E

 

 

KEY PERSONNEL PROFILE

 

Name:

CHEW YEW LENG

NRIC Number:

S1694550A

Available Address:

45 JALAN GELENGGANG SEMBAWANG HILLS ESTATE  SINGAPORE 578219

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

DIRECTOR

24/03/2003

-

-

 

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

:

17/10/2011

Date of Last AR

:

16/11/2011

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

8,493,011,778

28.45

6,611,995,074

11,381,017,896

9,289,358,057

4,541,813,553

Profit/(Loss) Before Tax

10,845,308

48.20

7,317,893

5,494,959

8,456,637

5,839,679

Profit After Tax attributable to Shareholders

9,723,597

47.84

6,577,089

4,944,470

7,177,037

5,091,689

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

62,989,845

3.21

61,033,461

198,465,806

113,487,429

339,309,236

Current Assets

62,972,836

3.21

61,016,727

198,451,696

113,472,403

339,309,236

Non Current Assets

17,009

1.64

16,734

14,110

15,026

0

 

 

 

 

 

 

 

Total Liabilities

32,082,643

-16.41

38,380,540

182,877,817

102,152,619

334,925,513

Current Liabilities

32,082,643

-16.41

38,380,540

182,877,817

102,152,619

334,925,513

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

30,907,202

36.44

22,652,921

15,587,989

11,334,810

4,383,722

Share Capital

1,615,421

-6.49

1,727,468

1,675,046

1,783,839

1,880,780

Total Reserves

29,291,781

39.98

20,925,453

13,912,943

9,550,971

2,502,942

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

28.45

-41.90

22.52

104.53

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.11

0.10

0.04

0.08

0.11

Return on Equity (%)

31.46

29.03

31.72

63.32

116.15

Return on Assets (%)

15.44

10.78

2.49

6.32

1.50

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.04

1.69

11.73

9.01

76.40

Current Debt/Equity (Times)

1.04

1.69

11.73

9.01

76.40

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

2.04

2.69

12.73

10.01

77.40

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

134.83

108.33

57.34

81.85

13.39

Fixed Assets Turnover (Times)

499,324.58

395,123.41

806,592.34

618,218.96

0.00

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.96

1.59

1.09

1.11

1.01

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 16.94% (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 0.11 per cent in FY10 (FY09: 0.10 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.00 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.96 times in FY10 (FY09: 1.59 times). This means that the company has SGD - SIN 1.96 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 1.04 times in FY10, compared with 1.69 times in FY09. This means that the company requires additional external financing of SGD - SIN 1.04 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 31.46 per cent for Subject in the current financial period, as compared to 29.03 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 15.44 per cent (FY09: 10.78 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 134.83 times in FY10 (FY09: 108.33 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.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.