MIRA INFORM REPORT

Report Date :

21.04.2012

IDENTIFICATION DETAILS

Name :	R1 DELTA CIS PTE. LTD.

Registered Office :	221 Henderson Road #08-15 Henderson Building Singapore 159557

Country :	Singapore

Financials (as on) :	30.09.2010

Date of Incorporation :	01.09.2006

Com. Reg. No.:	200612801W

Legal Form :	Limited Private Company

Line of Business :	Processing of Rubber (Including Processing of Rubber Latex)

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	S$419,000

Status :	Moderate

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Executive Summary

Company Name	:	R1 DELTA CIS PTE. LTD.
Registration No	:	200612801W
Date of Registration	:	01/09/2006
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	221 HENDERSON ROAD #08-15 HENDERSON BUILDING SINGAPORE 159557
Date of Change of Address	:	01/09/2006
Contact No.	:	6276 6646
Fax No.	:	6276 7045
Website	:	NA
Registered Activities	:	PROCESSING OF RUBBER (INCLUDING PROCESSING OF RUBBER LATEX)
Issued Ordinary Capital*	:	$1,000,000.00 U.S. DOLLAR ,NO. OF SHARE : 1,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$1,000,000.00 U.S. DOLLAR
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	:	ERNST & YOUNG LLP
Bankers / Financiers	:	DBS BANK LTD. BNP PARIBAS BNP PARIBAS (SUISSE) SA
Turnover	:	SGD - SIN 121,710,616.00 (FY2010)
Net Worth	:	SGD - SIN 4,191,501.00 (FY2010)
No. of Bank Charges	:	4
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	204 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2009/2010) 987 POSITION IN SME 1000 Companies Ranked by Net Profit (2009/2010) 1648 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 948 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)
Compounded Annual Growth Rate (CAGR)	:	31.23% (3 years)

Credit Rating & Recommendation

Recommended Credit Line

S$419,000

SHAREHOLDER DETAILS

NAME	:	R1 INTERNATIONAL PTE LTD
SHAREHOLDER ID	:	200104842R
NATIONALITY	:	SINGAPORE
ADDRESS	:	8 ROBINSON ROAD #05-00 ASO BUILDING SINGAPORE 048544
NO. OF ORD SHARES	:	510,000
% OF SHAREHOLDING	:	51%
CURRENCY	:	U.S. DOLLAR

NAME	:	DELTA EXPORTS PTE LTD
SHAREHOLDER ID	:	199300906K
NATIONALITY	:	SINGAPORE
ADDRESS	:	221 HENDERSON ROAD #08-15 HENDERSON BLDG SINGAPORE 159557
NO. OF ORD SHARES	:	490,000
% OF SHAREHOLDING	:	49%
CURRENCY	:	U.S. DOLLAR

OFFICER DETAILS

NAME	:	MAHMOOD BIN ABD KADIR
ADDRESS	:	1 JALAN 12/2 TAMAN TUN ABDUL RAZAK 68000 AMPANG SELANGOR DARUL EHSAN MALAYSIA
POSITION	:	DIRECTOR
DATE OF APPT	:	01/10/2007
NATIONALITY	:	MALAYSIAN
I/C PASSPORT	:	480330015447

NAME	:	KATHLEEN SOH LIN TUAN
ADDRESS	:	244 BISHAN STREET 22 #03-290 SINGAPORE 570244
POSITION	:	SECRETARY
DATE OF APPT	:	01/09/2006
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1284881A

NAME	:	KARTHIKESAN S/O VAIRAVAN@ VASUDEVAN S/O VAIRAVAN
ADDRESS	:	1 CLOVER RISE CLOVER PARK SINGAPORE 579153
POSITION	:	DIRECTOR
DATE OF APPT	:	01/09/2006
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2176649F

NAME	:	LIM BENG SENG
ADDRESS	:	6A TANJONG RHU ROAD #13-01 DE CENTURION SINGAPORE 436884
POSITION	:	DIRECTOR
DATE OF APPT	:	01/02/2009
NATIONALITY	:	MALAYSIAN
I/C PASSPORT	:	S2607496G

NAME	:	SANDANA DASS
ADDRESS	:	9 BOSCOMBE ROAD SINGAPORE 439746
POSITION	:	DIRECTOR
DATE OF APPT	:	01/09/2006
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2712656A

NAME	:	DHRUBA CHARAN PANDA
ADDRESS	:	KYTV, KOSTYOLNA STREET 8, FLAT 27 UKRAINE
POSITION	:	DIRECTOR
DATE OF APPT	:	01/10/2007
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2737129I

KEY PERSONNEL PROFILE

Name:	KARTHIKESAN S/O VAIRAVAN@ VASUDEVAN S/O VAIRAVAN
NRIC Number:	S2176649F
Available Address:	1 CLOVER RISE CLOVER PARK SINGAPORE 579153

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	DELMAR PTE. LTD.	DIRECTOR	23/09/2004	-	-
2	DELTA EXPORTS PTE LTD	DIRECTOR	17/02/1993	2000000	50.00
3	DELTA EXPORTS PTE LTD	SECRETARY	16/08/2001	2000000	50.00
4	DELTA GLOBAL HOLDINGS PTE. LTD.	DIRECTOR	18/09/2007	1	100.00
5	NEURON INNOCEUTICALS PTE. LTD.	DIRECTOR	05/01/2006	-	-
6	R1 DELTA CIS PTE. LTD.	DIRECTOR	01/09/2006	-	-
7	WILMAR-DELTA HOLDINGS PTE. LTD.	DIRECTOR	02/04/2008	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ALFA EDIBLE OILS PTE. LTD.	STRUCK OFF	DIRECTOR	10/05/2006	-
2	AMERICAN COMPONENTS (S) PTE LTD	LIVE COMPANY	SECRETARY	15/05/1991	30/11/1994
3	AMTEL EXPORTS PTE LTD	LIVE COMPANY	DIRECTOR	09/04/1990	21/04/1993
4	CHEMET HANDEL TRADING (S) PTE LTD	STRUCK OFF	DIRECTOR	04/02/1986	01/12/1988
5	CHEMET HANDEL TRADING (S) PTE LTD	STRUCK OFF	SECRETARY	04/02/1986	01/12/1988
6	DELTA METALS & MINERALS PTE LTD	STRUCK OFF	DIRECTOR	08/01/1994	18/11/2000
7	DELTA METALS & MINERALS PTE LTD	STRUCK OFF	SECRETARY	08/01/1994	18/11/2000
8	DELTA-AGRO TRADING PTE LTD	STRUCK OFF	DIRECTOR	08/03/1996	19/04/2005
9	DELTA-AGRO TRADING PTE LTD	STRUCK OFF	SECRETARY	08/03/1996	26/07/2000
10	EAST AFRICA CO PTE LTD	LIVE COMPANY	SECRETARY	17/07/1992	17/09/1997
11	EVEREST INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	09/03/1992	24/07/2000

12	EVEREST INTERNATIONAL PTE LTD	LIVE COMPANY	SECRETARY	19/05/1992	24/07/2000
13	FLLOYD & PATTERSON TRADING	TERMINATION	MANAGER	31/08/1985	05/04/1989
14	FLLOYD & PATTERSON TRADING	TERMINATION	OWNER	31/08/1985	05/04/1989
15	FRANC TRADERS & CONSULTANTS PTE LTD	STRUCK OFF	DIRECTOR	26/11/1994	30/09/2000
16	FRANC TRADERS & CONSULTANTS PTE LTD	STRUCK OFF	SECRETARY	26/11/1994	30/09/2000
17	GRANDBAY TRADING CO	CANCELLATION	OWNER	15/10/1983	11/04/1986
18	GREENLAND TEXTILES PTE LTD	LIVE COMPANY	DIRECTOR	14/03/1984	07/06/2000
19	GREENLAND TEXTILES PTE LTD	LIVE COMPANY	SECRETARY	14/03/1984	07/06/2000
20	GREENWORTH INTERNATIONAL PTE LTD	LIVE COMPANY	DIRECTOR	11/09/1995	01/10/1996
21	GREENWORTH INTERNATIONAL PTE LTD	LIVE COMPANY	SECRETARY	11/09/1995	01/10/1996
22	HAVELI RESTAURANT PTE LTD	STRUCK OFF	DIRECTOR	27/04/1987	18/10/1993
23	HAVELI RESTAURANT PTE LTD	STRUCK OFF	SECRETARY	27/04/1987	14/10/1996
24	JAMES BROOK TRADING	TERMINATION	MANAGER	16/06/1986	08/07/1988
25	JAMES BROOK TRADING	TERMINATION	OWNER	16/06/1986	08/07/1988
26	KR L LETCHUMANAN MONEY LENDING	TERMINATION	MANAGER	31/01/1989	29/08/1989
27	MICROLINK EXPORTS (S) PTE LTD	STRUCK OFF	DIRECTOR	11/08/1990	31/12/2003
28	MICROLINK EXPORTS (S) PTE LTD	STRUCK OFF	SECRETARY	15/09/1994	31/12/2003
29	NET CONSULTANCY SERVICES PTE. LTD.	LIVE COMPANY	DIRECTOR	26/04/2002	05/08/2005
30	R1 DELTA CIS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	28/11/2011
31	RADHA TRADING	TERMINATION	MANAGER	03/10/1986	01/08/1994
32	RADHA TRADING	TERMINATION	OWNER	03/10/1986	01/08/1994
33	SALSA EXPORTS PTE LTD	LIVE COMPANY	DIRECTOR	16/03/1990	05/08/2002
34	SAMEECO INTERNATIONAL PTE LTD	GAZETTED TO BE STRUCK OFF	SECRETARY	29/04/1993	-
35	TECHAM IMPEX PTE LTD	STRUCK OFF	DIRECTOR	21/09/1991	21/04/1993
36	TECHAM IMPEX PTE LTD	STRUCK OFF	SECRETARY	01/07/1991	21/04/1993

37	TRIMEX TRADING (S) PTE LTD	STRUCK OFF	DIRECTOR	01/12/1989	03/05/2005
38	TRIMEX TRADING (S) PTE LTD	STRUCK OFF	SECRETARY	28/12/1983	03/05/2005

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 4 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201112719
	Date of Registration	:	11/10/2011
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

2)	Charge No.	:	C201101115
	Date of Registration	:	25/01/2011
	Chargee	:	BNP PARIBAS
	Amount Secured and Currency	:	All Monies
	Address	:	20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

3)	Charge No.	:	C200906580
	Date of Registration	:	15/10/2009
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

4)	Charge No.	:	C200903062
	Date of Registration	:	25/05/2009
	Chargee	:	BNP PARIBAS (SUISSE) SA
	Amount Secured and Currency	:	All Monies
	Address	:	---

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	23/03/2011
Date of Last AR	:	05/04/2011
Date of A/C Laid At Last AGM	:	30/09/2010

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	SEP 2010	% Change	SEP 2009	SEP 2008	SEP 2007
Currency	SGD - SIN		SGD - SIN	SINGAPORE, DOLLARS	SINGAPORE, DOLLARS
Profit and Loss Key Figures
Turnover	121,710,616	203.03	40,164,501	80,788,297	53,857,357
Profit/(Loss) Before Tax	1,393,603	54.33	902,985	627,140	492,994
Profit After Tax attributable to Shareholders	1,161,922	49.40	777,724	537,923	423,713

Balance Sheet Key Figures
Total Assets	23,100,795	214.83	7,337,498	4,197,411	16,048,409
Current Assets	23,098,329	214.84	7,336,514	4,195,108	16,047,049
Non Current Assets	2,466	150.61	984	2,303	1,359

Total Liabilities	18,909,294	360.00	4,110,681	1,865,982	14,097,396
Current Liabilities	18,909,294	360.00	4,110,681	1,865,982	14,097,396
Non Current Liabilities	0	NA	0	0	0

Shareholders' Funds	4,191,501	29.90	3,226,817	2,331,429	1,951,013
Share Capital	1,384,708	-6.11	1,474,858	1,404,000	1,527,300
Total Reserves	2,806,793	60.21	1,751,959	927,429	423,713

FINANCIAL RATIOS

	Company
	SEP 2010	SEP 2009	SEP 2008	SEP 2007
Growth %
Year-on-Year Growth	203.03	-50.28	50.00	NA

Profitability
Profit Margin (%)	0.95	1.94	0.67	0.79
Return on Equity (%)	27.72	24.10	23.07	21.72
Return on Assets (%)	5.03	10.60	12.82	2.64

Leverage
Total Debt/Equity (Times)	4.51	1.27	0.80	7.23
Current Debt/Equity (Times)	4.51	1.27	0.80	7.23
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	5.51	2.27	1.80	8.23

Asset Management
Total Assets Turnover (Times)	5.27	5.47	19.25	3.36
Fixed Assets Turnover (Times)	49,355.48	40,817.58	35,086.29	39,621.48

Liquidity
Current Ratio (Times)	1.22	1.78	2.25	1.14

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 31.23% (3 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 0.95 per cent in FY10 (FY09: 1.94 per cent). The company is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.02 a year ago.

Liquidity

Current ratio stood at 1.22 times in FY10 (FY09: 1.78 times). This means that the company has SGD - SIN 1.22 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 4.51 times in FY10, compared with 1.27 times in FY09. This means that the company requires additional external financing of SGD - SIN 4.51 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 27.72 per cent for Subject in the current financial period, as compared to 24.10 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 5.03 per cent (FY09: 10.60 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 5.27 times in FY10 (FY09: 5.47 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.51.99
UK Pound	1	Rs.83.54
Euro	1	Rs.63.40

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%)

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