MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

NOBLE RESOURCES PTE. LTD.

 

 

Formerly Known As :

NOBLE GRAIN PTE LTD

 

 

Registered Office :

60 Anson Road #19-01 Mapletree Anson Singapore 079914

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

17.03.2001

 

 

Com. Reg. No.:

200101811W

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other investment holding companies

General wholesale trade (including general importers and exporters)

 

 

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

 

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, 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:

NOBLE RESOURCES PTE. LTD.

200101811W

 

Date Incorporated:

Registered Office:

Telephone Number:

17/03/2001

60 ANSON ROAD #19-01 MAPLETREE ANSON SINGAPORE 079914

6100 6118

Age of Company:

Website:

Industry Type:

11

www.thisisnoble.com

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

NA

 

35

 

Better than last month;last month the entity took 20 days to pay

No. of Charges(s):
1

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

NOBLE AGRI RESOURCES LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

10

 

 

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*

:

$395,475,221.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 380,400,311

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$395,475,221.00 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

:

10

No. of Local Associates

:

NA

Auditor

:

ERNST & YOUNG LLP

Bankers / Financiers

:

BANCO NACIONAL DE MEXICO, S.A.

Turnover

:

SGD - SIN 9,823,457,002.00 (FY2010)

Net Worth

:

SGD - SIN 481,154,396.00 (FY2010)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 1000 / 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)

:

44.7% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

NOBLE AGRI RESOURCES LIMITED

SHAREHOLDER ID

:

T11UF3943K

NATIONALITY

:

NA

ADDRESS

:

CLARENDON HOUSE, 2 CHURCH STREET HAMILTON HM 11, BERMUDA

NO. OF ORD SHARES

:

380,400,311

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

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

:

BVP7PC1H9

 

NAME

:

WILLIAM JAMES RANDALL

ADDRESS

:

8 ROCHALIE DRIVE SINGAPORE 248239

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

:

2 MISTRI ROAD #26-05 LUMIERE SINGAPORE 079624

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:

WILHELMUS DIEDERIK DE BLANK @ WILDRIK DE BLANK

NRIC Number:

BVP7PC1H9

Available Address:

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

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

NOBLE RESOURCES PTE. LTD.

DIRECTOR

23/08/2002

-

-

2

RAPCO ENTERPRISES PTE. LTD.

DIRECTOR

23/08/2002

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

NOBLE PLANTATIONS PTE. LTD.

LIVE COMPANY

DIRECTOR

29/06/2007

18/07/2012

 

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

 

Company

Shareholdings (%)

 

SINO AGRI-TRADE PTE LTD

100

GREAT WALL INVESTMENTS PTE. LTD.

100

NOBLE PROTEIN AND FEED CO. PTE. LTD.

100

NOBLE PLANTATIONS PTE. LTD.

100

UNIAGRO INTERNATIONAL PTE. LTD.

100

GLOBEAGRI TRADING PTE. LTD.

100

MEADOWFEED ENTERPRISES PTE. LTD.

100

GREENSOFTS TRADING PTE. LTD.

100

NOBLE COTTON

NA (SOLE-PROPRIETOR)

NOBLE COFFEE TRADING

NA (SOLE-PROPRIETOR)

                                                                                                                       

 

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.

:

C201106057

 

Date of Registration

:

19/05/2011

 

Chargee

:

BANCO NACIONAL DE MEXICO, S.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

Clear

 

COMPLIANCE

 

Date of Last AGM

:

11/10/2011

Date of Last AR

:

20/10/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

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

 

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

9,823,457,002

36.24

7,210,198,566

8,022,297,310

4,403,001,391

2,240,660,728

Profit/(Loss) Before Tax

365,483,843

NA

(110,083,722)

619,708,686

55,485,635

11,804,433

Profit After Tax attributable

 to Shareholders

343,235,580

NA

(107,119,616)

584,081,567

51,867,334

10,774,654

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

4,274,602,901

59.83

2,674,487,889

2,710,928,844

1,784,449,348

441,225,341

Current Assets

3,666,840,241

60.77

2,280,827,849

2,556,621,796

1,595,314,946

361,645,624

Non Current Assets

607,762,660

54.39

393,660,040

154,307,048

189,134,402

79,579,717

 

 

 

 

 

 

 

Total Liabilities

3,793,448,503

53.82

2,466,210,338

2,154,601,155

1,816,539,236

475,219,128

Current Liabilities

3,793,448,503

53.82

2,466,210,338

2,105,217,030

1,763,947,641

419,769,503

Non Current Liabilities

0

NA

0

49,384,125

52,591,595

55,449,625

 

 

 

 

 

 

 

Shareholders' Funds

481,154,396

131.02

208,277,552

556,327,689

(32,089,889)

(33,993,789)

Share Capital

287,073,345

51.82

189,090,168

12,767,913

13,597,181

14,336,104

Total Reserves

194,081,051

911.50

19,187,384

543,559,776

(45,687,070)

(48,329,893)

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

36.24

-10.12

82.20

96.50

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

3.49

-1.49

7.28

1.18

0.48

Return on Equity (%)

71.34

-51.43

104.99

-161.63

-31.70

Return on Assets (%)

8.03

-4.01

21.55

2.91

2.44

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

7.88

11.84

3.87

-56.61

-13.98

Current Debt/Equity (Times)

7.88

11.84

3.78

0.00

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.09

0.00

0.00

Total Asset To Total Equity (Times)

8.88

12.84

4.87

-55.61

-12.98

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

2.30

2.70

2.96

2.47

5.08

Fixed Assets Turnover (Times)

16.16

18.32

51.99

23.28

28.16

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.97

0.92

1.21

0.90

0.86

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 44.7% (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 3.49 per cent in FY10. The company is now able to book in SGD - SIN 0.03 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 0.97 times in FY10 (FY09: 0.92 times). This means that the company has SGD - SIN 0.97 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 7.88 times in FY10, compared with 11.84 times in FY09. This means that the company requires additional external financing of SGD - SIN 7.88 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 71.34 per cent for Subject in the current financial period. 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 8.03 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 2.30 times in FY10 (FY09: 2.70 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.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.