MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

MRI TRADING PTE. LTD.

 

 

Formerly Known As :

CWT INTEGRATED SERVICES PTE. LTD.

 

 

Registered Office :

38 Tanjong Penjuru Cwt Logistics Hub 1 Singapore 609039

 

 

Country :

Singapore 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

04.10.2010

 

 

Com. Reg. No.:

201021078M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Exists

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company Name:

Registered Number:

MRI TRADING PTE. LTD.

201021078M

 

Date Incorporated:

Registered Office:

Telephone Number:

04/10/2010

38 TANJONG PENJURU CWT LOGISTICS HUB 1 SINGAPORE 609039

NA

Age of Company:

Website:

Industry Type:

2

NA

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

NA

 

The entity is paying current to the creditors

No. of Charges(s):
1

 

Industry DTC

 

25 Days

 

Directors

 

Corporate Structure

Number of Current Directors

4

Holding Company:

CAPSOLON PTE. LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

Executive Summary

 

Company Name

:

Mri Trading Pte. Ltd.

Registration No

:

201021078M

Date of Registration

:

04/10/2010

Former Name

:

1. CWT INTEGRATED SERVICES PTE. LTD. (Eff. date : 04/10/2010)

Date of Change of Name

:

01/11/2011

Type of Company

:

Limited Private Company

Registered Address

:

38 TANJONG PENJURU CWT LOGISTICS HUB 1 SINGAPORE 609039

Operating Office

:

80, Raffles Place #59-02, Uob Plaza 1, Singapore 048624

Date of Change of Address

:

04/10/2010

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. General Wholesale Trade (Including General Importers And Exporters)

2. Wholesale Of Solid, Liquid And Gaseous Fuels And Related Products Nec (Eg Bitumen)

Wholesale Gaseous Fuels Including Petroleum Or Petrochemical Trading

Issued Ordinary Capital*

:

$6,400,000.00 SINGAPORE, DOLLARS NO. OF SHARE : 6,400,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$6,400,000.00 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

Holding Company

:

Capsolon Pte. Ltd.

Auditor

:

Kpmg Llp

Bankers / Financiers

:

Bnp Paribas

Turnover

:

$70,782,612.00 (FY2011)

Net Worth

:

$5,431,614.00 (FY2011)

No. of Bank Charges

:

1

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

 

 

SHAREHOLDER DETAILS

 

NAME

:

CAPSOLON PTE. LTD.

SHAREHOLDER ID

:

201026486D

NATIONALITY

:

SINGAPORE

ADDRESS

:

38 TANJONG PENJURU CWT LOGISTICS HUB 1 SINGAPORE 609039

NO. OF ORD SHARES

:

6,400,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MARK CHARLES LOWE

ADDRESS

:

WEINBURGHOHE 27,6300 ZUG, SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

26/01/2012

NATIONALITY

:

BRITISH

I/C PASSPORT

:

099081003

 

NAME

:

LYE SIEW HONG

ADDRESS

:

24 UPPER NERAM ROAD TUAN SING PARK SINGAPORE 805987

POSITION

:

DIRECTOR

DATE OF APPT

:

26/01/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1212805C

 

NAME

:

ADAM SLATER

ADDRESS

:

61 GROVE DRIVE HENRY PARK SINGAPORE 279101

POSITION

:

DIRECTOR

DATE OF APPT

:

04/10/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2716634B

 

NAME

:

LOI POK YEN

ADDRESS

:

32 NASSIM HILL #08-36 NASSIM MANSION SINGAPORE 258472

POSITION

:

DIRECTOR

DATE OF APPT

:

26/01/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7005894D

 

NAME

:

TAN BOON HUA

ADDRESS

:

2 PETIR ROAD #07-01 MAYSPRINGS SINGAPORE 678265

POSITION

:

SECRETARY

DATE OF APPT

:

04/10/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7482653I

 

 

KEY PERSONNEL PROFILE

 

Name:

ADAM SLATER

NRIC Number:

S2716634B

Available Address:

61 GROVE DRIVE HENRY PARK  SINGAPORE 279101

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CAPITAL BROKERS PTE. LTD.

DIRECTOR

13/05/2009

-

NA

2

CAPSOLON GROUP PTE. LTD.

DIRECTOR

13/12/2010

-

NA

3

CAPSOLON PTE. LTD.

DIRECTOR

15/12/2010

-

NA

4

CWT COMMODITIES (AUSTRAL-ASIA) PTE. LTD.

DIRECTOR

08/08/2007

-

NA

5

CWT COMMODITIES (CHINA) PTE. LTD.

DIRECTOR

20/01/2000

-

NA

6

CWT COMMODITIES (MONGOLIA) PTE. LTD.

DIRECTOR

30/09/2010

-

NA

7

CWT COMMODITIES (SEA) PTE. LTD.

DIRECTOR

05/11/2002

-

NA

8

CWT COMMODITIES INDOCHINE PTE. LTD.

DIRECTOR

24/08/2010

-

NA

9

CWT COMMODITIES PTE. LTD.

DIRECTOR

20/01/2000

-

NA

10

CWT COMMODITIES PTE. LTD.

MANAGING DIRECTOR

16/05/2000

-

NA

11

CWT COMMODITIES WAREHOUSING PTE. LTD.

DIRECTOR

26/07/2005

-

NA

12

CWT PROJECT LOGISTICS PTE. LTD.

DIRECTOR

20/09/2010

-

NA

13

HAPTICUS PTE. LTD.

DIRECTOR

27/02/2012

145279

18.15

14

MRI TRADING PTE. LTD.

DIRECTOR

04/10/2010

-

NA

15

PENFOLD PTE. LTD.

DIRECTOR

14/07/2010

-

NA

16

STRAITS FINANCIAL SERVICES PTE. LTD.

DIRECTOR

08/06/2011

-

NA

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

C & P ASIA ( KOREA) PTE. LTD.

STRUCK OFF

DIRECTOR

20/01/2000

04/04/2008

2

C & P ASIA (BACK OFFICE) PTE. LTD.

STRUCK OFF

DIRECTOR

08/02/2000

30/08/2006

3

C & P ASIA (INDIA) PTE. LTD.

STRUCK OFF

DIRECTOR

10/05/2002

30/08/2006

4

C & P ASIA (INDONESIA) PTE. LTD.

STRUCK OFF

DIRECTOR

20/01/2000

11/03/2009

5

C & P ASIA (SHANGHAI) PTE. LTD.

STRUCK OFF

DIRECTOR

27/11/2002

30/08/2006

6

C & P ASIA (THAILAND) PTE. LTD.

STRUCK OFF

DIRECTOR

20/01/2000

30/08/2006

7

CWT COMMODITIES (METALS) PTE. LTD.

LIVE COMPANY

DIRECTOR

08/02/2000

17/08/2005

8

CWT COMMODITIES PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

10/08/2012

9

CWT COMMODITIES WAREHOUSING PTE. LTD.

LIVE COMPANY

DIRECTOR

01/06/2000

13/06/2012

10

OCEANBUILD ENTERPRISES (SINGAPORE) PTE LTD

STRUCK OFF

DIRECTOR

01/06/2000

12/02/2009

11

SINGAPORE TRADE & COMMODITY SERVICES PTE. LTD.

STRUCK OFF

DIRECTOR

30/10/2007

08/03/2011

12

SINGAPORE TRADE & COMMODITY SERVICES PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

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.

:

C201208513

 

Date of Registration

:

27/07/2012

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

LITIGATION

 

there have been 1 litigation suits filed against Subject.

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

0

High (>$250,000)

1

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

325

 

Transfer

:

-

 

Date of Filing

:

18/04/2012

 

Amount

:

USD 330,000.00

USD 270,000.00

 

Cause

:

Contract - Others

 

Case Status

:

PENDING

 

Plaintiff

:

RUDHRA MINERALS PTE LTD

 

Last Update Date

:

16/08/2012

 

 

COMPLIANCE

 

Date of Last AGM

 :

01/06/2012

Date of Last AR

 :

11/06/2012

Date of A/C Laid at Last AGM

 :

31/12/2011

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

 

 

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

31/12/2011

$

Turnover

70,782,612

Profit Before Tax and Minority Interest

(923,391)

Profit After Tax and Minority Interest

(925,094)

ASSETS

 

Current Assets

15,138,238

Non-current Assets

82,780

- Fixed Assets

82,780

- Intangible Assets

0

- Long-term Investments

0

Total Assets

15,221,018

LIABILITIES

 

Current Liabilities

9,789,405

Long-Term Liabilities

0

Total Liabilities

9,789,405

SHAREHOLDERS’ FUNDS

 

Share Capital

6,356,708

Retained Earnings

(925,094)

Shareholders Funds

5,431,614

 

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

31/12/2011

PROFITABILITY

 

  Rate of Net Profit (%)

-1.31

  Return on Equity (%)

-17.03

  Return on Assets (%)

-6.08

  Return on Capital Employed

-0.10

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

1.80

  Current Liabilities/Equity (times)

1.80

  Long Term Liabilities/Equity (times)

0.00

  Debt Service Cover Ratio

-0.06

  Short-term Borrowings-to-cash Ratio

0.07

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

4.65

  Fixed Assets Turnover (times)

855.07

  Interest Coverage Ratio

-1.61

  Average Payment Period (days)

0

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

1.55

  Quick Ratio (times)

1.55

  Average Collection Period (days)

NA

 

FINANCIAL COMMENTARY

 

Profitability

 

 

We are unable to comment on Subject's profitability

 

 

Liquidity

 

Current ratio stood at 1.55 times in FY11. This means that the company has $1.55 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be within the industry norm for the sector in which the company is operating.

 

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 liabilities-to-equity ratio notched 1.80 times in FY11. This means that the company requires additional external financing of $1.80 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be within the industry norm for the sector in which the company is operating.

 

Generally, a total liability-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 4.65 times in FY11. 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.55.98

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.