MIRA INFORM REPORT

 

 

Report Date :

19.04.2012

 

IDENTIFICATION DETAILS

 

Name :

TRAMMOCHEM ASIA PTE. LTD.

 

 

Registered Office :

16 Raffles Quay #37-02a Hong Leong Building Singapore 048581

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

04.11.2008

 

 

Com. Reg. No.:

200821090N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Chemicals and Chemical Products

 

 

No. of Employees :

Not Available

 

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 – September 30, 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

:

TRAMMOCHEM ASIA PTE. LTD.

Registration No

:

200821090N

Date of Registration

:

04/11/2008

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

16 RAFFLES QUAY #37-02A HONG LEONG BUILDING SINGAPORE 048581

Date of Change of Address

:

01/05/2009

Contact No.

:

6220 0700

Fax No.

:

6220 0776

Website

:

NA

Registered Activities

:

WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS NEC

Issued Ordinary Capital*

:

$100.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100.00 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

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK NEDERLAND",NEW YORK BRANCH

Turnover

:

SGD - SIN 2,022,954,905.00 (FY2010)

Net Worth

:

SGD - SIN 11,845,329.00 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

194 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Rating & Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

SHAREHOLDER DETAILS

 

NAME

:

TRANSAMMONIA, INC.

SHAREHOLDER ID

:

T08UF9713B

NATIONALITY

:

UNITED STATES

ADDRESS

:

320 PARK AVENUE, NEW YORK, NEW YORK 10022-6987, USA UNITED STATES

NO. OF ORD SHARES

:

100

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

DUDLEY REX WELLESLEY COX

ADDRESS

:

MARINA RESIDENCES 4 APT 306, THE PALM JUHEIRAH PO BOX 37901, DUBAI, UNITED ARAB EMIRATES

POSITION

:

DIRECTOR

DATE OF APPT

:

01/11/2011

NATIONALITY

:

BRITISH

I/C PASSPORT

:

801010604

 

NAME

:

KIM HYOUNG JIN

ADDRESS

:

3 RHU CROSS #10-12 COSTA RHU SINGAPORE 437433

POSITION

:

DIRECTOR

DATE OF APPT

:

13/12/2011

NATIONALITY

:

KOREAN, SOUTH

I/C PASSPORT

:

G6236972N

 

NAME

:

JULIANA LOH JOO HUI

ADDRESS

:

22 ST. GEORGE'S ROAD #12-182 SINGAPORE 321022

POSITION

:

SECRETARY

DATE OF APPT

:

02/07/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2558149J

 

NAME

:

ASHOK KUMAR KISHORE

ADDRESS

:

ETZELSTRASSE 87, 8808 PFAEFFIKON SZ SWITZERLAND

POSITION

:

DIRECTOR

MANAGER

DATE OF APPT

:

01/02/2009

01/02/2009

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1887306

 

 

KEY PERSONNEL PROFILE

 

Name:

ASHOK KUMAR KISHORE

NRIC Number:

Z1887306

Available Address:

ETZELSTRASSE 87, 8808 PFAEFFIKON SZ SWITZERLAND

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

TRAMMOCHEM ASIA PTE. LTD.

DIRECTOR

01/02/2009

-

-

2

TRAMMOCHEM ASIA PTE. LTD.

MANAGER

01/02/2009

-

-

 

 

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 have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200903544

 

Date of Registration

:

16/06/2009

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK NEDERLAND",NEW YORK BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

LITIGATION

 

Clear

 

COMPLIANCE

 

Date of Last AGM

:

31/05/2011

Date of Last AR

:

07/06/2011

Date of A/C Laid At Last AGM

:

31/12/2010

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

Currency

SGD - SIN

 

SGD - SIN

Profit and Loss Key Figures

 

 

 

Turnover

2,022,954,905

38.32

1,462,532,561

Profit/(Loss) Before Tax

(808,286)

NA

14,772,275

Profit After Tax attributable to Shareholders

(545,661)

NA

13,280,318

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

122,370,887

-21.89

156,665,749

Current Assets

121,910,953

-22.09

156,484,906

Non Current Assets

459,934

154.33

180,843

 

 

 

 

Total Liabilities

110,525,558

-22.92

143,385,431

Current Liabilities

110,525,558

-22.92

143,385,431

Non Current Liabilities

0

NA

0

 

 

 

 

Shareholders' Funds

11,845,329

-10.81

13,280,318

Share Capital

0

NA

0

Total Reserves

11,845,329

-10.81

13,280,318

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

Growth %

 

 

Year-on-Year Growth

38.32

NA

 

 

 

Profitability

 

 

Profit Margin (%)

-0.03

0.91

Return on Equity (%)

-4.61

100.00

Return on Assets (%)

-0.45

8.48

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

9.33

10.80

Current Debt/Equity (Times)

9.33

10.80

Long Term Debt To Equity (Times)

0.00

0.00

Total Asset To Total Equity (Times)

10.33

11.80

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

16.53

9.34

Fixed Assets Turnover (Times)

4,398.36

8,087.31

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.10

1.09

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

Liquidity

 

Current ratio stood at 1.10 times in FY10 (FY09: 1.09 times). This means that the company has SGD - SIN 1.10 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 9.33 times in FY10, compared with 10.80 times in FY09. This means that the company requires additional external financing of SGD - SIN 9.33 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.

 

We are unable to comment on Subject's return on assets.

 

Total assets turnover ratio logged at 16.53 times in FY10 (FY09: 9.34 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.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.