MIRA INFORM REPORT

 

 

Report Date :

06.12.2012

 

IDENTIFICATION DETAILS

 

Name :

COALNERGY MINERALS PTE. LTD.

 

 

Formerly Known As :

MAHESWARI BROS OVERSEAS PTE. LTD.

 

 

Registered Office :

435 Orchard Road #19-01 Wisma Atria Singapore 238877

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.01.2007

 

 

Com. Reg. No.:

200701303R

 

 

Legal Form :

Limited Exempt 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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Singapore - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

Company Name:

Registered Number:

COALNERGY MINERALS PTE. LTD.

200701303R

 

Date Incorporated:

Registered Office:

Telephone Number:

24/01/2007

435 ORCHARD ROAD #19-01 WISMA ATRIA SINGAPORE 238877

67331125

Age of Company:

Website:

Industry Type:

5

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
3

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

NA

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

COALNERGY MINERALS PTE. LTD.

Registration No

:

200701303R

Date of Registration

:

24/01/2007

Former Name

:

MAHESWARI BROS OVERSEAS PTE. LTD. Eff. date : 24/01/2007 Eff. date : 24/01/2007

Date of Change of Name

:

04/10/2010

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

435 ORCHARD ROAD #19-01 WISMA ATRIA SINGAPORE 238877

Date of Change of Address

:

01/01/2011

Contact No.

:

67331125

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

DEALING IN COAL, STEEL, FERROUS & NON FERROUS COMMODITIES

Issued Ordinary Capital*

:

$50,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 50,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$50,000.00 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

:

BSPL PAC

Bankers / Financiers

:

CITIBANK N.A.

BNP PARIBAS

Turnover

:

SGD - SIN 144,564,840.00 (FY2010)

Net Worth

:

SGD - SIN 3,134,844.00 (FY2010)

No. of Bank Charges

:

3

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

1400 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

NABIN TULADHAR

SHAREHOLDER ID

:

F1162642N

NATIONALITY

:

NEPALESE

ADDRESS

:

435 ORCHARD ROAD #19-01 WISMA ATRIA SINGAPORE 238877

NO. OF ORD SHARES

:

25,000

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

BIJAY KUMAR MANDHANI

SHAREHOLDER ID

:

Z1866334

NATIONALITY

:

INDIAN

ADDRESS

:

4TH FLOOR, MANDHANI COMPLEX, RAJBHAVAN ROAD, HYDERABAD 500082

NO. OF ORD SHARES

:

24,999

% OF SHAREHOLDING

:

50%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SHYAM SUNDER BAJAJ

SHAREHOLDER ID

:

S7360144D

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

106 RIVERVALE WALK #05-122 SINGAPORE 540106

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SUNIL KHETPALIA

ADDRESS

:

FLAT NO 202 PRINCE REGENT NO. 40 THAMBU SWAMY STREET SYLYAN LODGE COLONY KILPAUK CHENNAI 600010 TN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/10/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

E9175760

 

NAME

:

NABIN TULADHAR

ADDRESS

:

435 ORCHARD ROAD #19-01 WISMA ATRIA SINGAPORE 238877

POSITION

:

DIRECTOR

DATE OF APPT

:

04/04/2008

NATIONALITY

:

NEPALESE

I/C PASSPORT

:

F1162642N

 

NAME

:

TAPEDIA VINITH

ADDRESS

:

RM NO. 316, ALBERT EINSTEIN, A-BLOCK, VIT MENS HOSTEL, VIT POST, KATPADI, VELLORE 632 014, TAMILNADU

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

F4799316

 

NAME

:

TONY CHUA CHWEE BOCK

ADDRESS

:

17 TELOK BLANGAH CRESCENT #19-282 SINGAPORE 090017

POSITION

:

SECRETARY

 

DATE OF APPT

:

04/04/2008

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0019417D

 

NAME

:

TAN BEE HNG

ADDRESS

:

537 ANG MO KIO AVENUE 5 #02-4056 SINGAPORE 560537

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2010

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1794686B

 

NAME

:

SHOBHA BAJAJ

ADDRESS

:

106 RIVERVALE WALK #05-122 SINGAPORE 540106

POSITION

:

DIRECTOR

DATE OF APPT

:

20/04/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7584536G

 

 

KEY PERSONNEL PROFILE

 

Name:

NABIN TULADHAR

NRIC Number:

F1162642N

Available Address:

435 ORCHARD ROAD #19-01 WISMA ATRIA  SINGAPORE 238877

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

COALNERGY MINERALS PTE. LTD.

DIRECTOR

04/04/2008

25000

50.00

2

GLOBALMATICS MINERGY PTE. LTD.

SHAREHOLDER

-

60000

60.00

3

GLOBALMATICS TRADING PTE LTD

DIRECTOR

23/06/1987

138499

55.39

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

SOBHA INTERNATIONAL PTE. LTD.

STRUCK OFF

DIRECTOR

11/07/2003

27/08/2008

2

SOBHA INTERNATIONAL PTE. LTD.

STRUCK OFF

MANAGING DIRECTOR

11/07/2003

27/08/2008

3

SOBHA INTERNATIONAL PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

4

VIET-TRADE CORPORATION (S) PTE LTD

STRUCK OFF

DIRECTOR

23/01/1992

-

5

VIET-TRADE CORPORATION (S) 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

 

Company

Shareholdings (%)

 

NA

 

                                                                                                                       

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 3 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201201713

 

Date of Registration

:

14/02/2012

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

2)

Charge No.

:

C201104525

 

Date of Registration

:

12/04/2011

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

3)

Charge No.

:

C200905295

 

Date of Registration

:

25/08/2009

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

31/08/2012

Date of Last AR

:

21/09/2012

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

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

144,564,840

160.81

55,428,723

14,242,634

0

Profit/(Loss) Before Tax

1,634,406

30.31

1,254,253

805,559

13,397

Profit After Tax attributable

 to Shareholders

1,392,484

29.51

1,075,183

700,493

13,397

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

26,490,257

320.15

6,304,922

10,342,038

21,829

Current Assets

26,490,257

320.15

6,304,922

10,342,038

21,829

Non Current Assets

0

NA

0

0

0

 

 

 

 

 

 

Total Liabilities

23,355,412

425.82

4,441,710

9,577,923

8,430

Current Liabilities

23,355,412

425.82

4,441,710

9,577,923

8,430

Non Current Liabilities

0

NA

0

0

0

 

 

 

 

 

 

Shareholders' Funds

3,134,844

68.25

1,863,212

764,115

13,399

Share Capital

49,225

-6.49

52,639

51,042

2

Total Reserves

3,085,619

70.42

1,810,573

713,073

13,397

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

Year-on-Year Growth

160.81

289.17

NA

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.96

1.94

4.92

0.00

Return on Equity (%)

44.42

57.71

91.67

99.99

Return on Assets (%)

5.26

17.05

6.77

61.37

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

7.45

2.38

12.53

0.63

Current Debt/Equity (Times)

7.45

2.38

12.53

0.63

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

8.45

3.38

13.53

1.63

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

5.46

8.79

1.38

0.00

Fixed Assets Turnover (Times)

0.00

0.00

0.00

0.00

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.13

1.42

1.08

2.59

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.96 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 1.13 times in FY10 (FY09: 1.42 times). This means that the company has SGD - SIN 1.13 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 7.45 times in FY10, compared with 2.38 times in FY09. This means that the company requires additional external financing of SGD - SIN 7.45 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 44.42 per cent for Subject in the current financial period, as compared to 57.71 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 5.26 per cent (FY09: 17.05 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 5.46 times in FY10 (FY09: 8.79 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.54.57

UK Pound

1

Rs.87.90

Euro

1

Rs.71.53

 

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.