MIRA INFORM REPORT

 

 

Report Date :

06.02.2012

 

IDENTIFICATION DETAILS

 

Name :

PEABODY COALTRADE ASIA PRIVATE LTD.

 

 

Registered Office :

10 Changi Business Park Central 2 #05-01 Hansapoint@Cbp Singapore 486030

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.08.2009

 

 

Com. Reg. No.:

200915581R

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of other specific commodities

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Company

 

 

Payment Behaviour :

Unknown

 

 

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

:

Peabody Coaltrade Asia Private Ltd.

Registration No

:

200915581R

Date of Registration

:

24/08/2009

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

Limited Private Company

A private company is one which has a small group of shareholders.  Under the law, this group cannot be more than 50.  A private company cannot ask the public to invest in it or to deposit money with it.  Capital must be raised privately from among the small group of shareholders and through bank loans.

Registered Address

:

10 CHANGI BUSINESS PARK CENTRAL 2 #05-01 HANSAPOINT@CBP SINGAPORE 486030

Date of Change of Address

:

01/05/2011

Trading Address

:

Suite 21-03 Millenia Tower, 1 Temasek Avenue, Singapore

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

Wholesale Of Other Specific Commodities Nec

Buying And Selling Of Coal

Issued Ordinary Capital*

:

$60,500,001.00 U.S. DOLLAR NO. OF SHARE : 60,500,001

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$60,500,001.00 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

:

NA

Turnover

:

$(20,770,097.00) (FY2010)

Net Worth

:

$(27,207,025.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

 

 

SHAREHOLDER DETAILS

 

NAME

:

PEABODY MCC (GIBRALTAR) LTD.

SHAREHOLDER ID

:

T10UF3861K

NATIONALITY

:

GIBRALTAR

ADDRESS

:

10/8 INTERNATIONAL COMMERCIAL CENTRE CASEMATES SQUARE GIBRALTAR

NO. OF ORD SHARES

:

60,500,001

% OF SHAREHOLDING

:

100%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

Walter Leroy Hawkins Jr

ADDRESS

:

902 TENLYNN COURT, ST LOUIS MO 63124, UNITED STATES OF AMERICA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/08/2009

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

204763848

 

NAME

:

John Frederick Quinn Jr

ADDRESS

:

3005 QUAIL RUN LANE, ST CHARLES MISSOURI 63303 UNITED STATES OF AMERICA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/08/2009

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

217087756

 

NAME

:

Paul Thomas Demzik

ADDRESS

:

22 ROCLARE LANE, TOWN & COUNTRY (ST. LOUIS) MO 63131 UNITED STATES OF AMERICA

POSITION

:

DIRECTOR

DATE OF APPT

:

24/08/2009

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

429125796

 

NAME

:

ROBERT JAN JACOB HERMAN BERTINA

ADDRESS

:

235 ARCADIA ROAD #02-03 ARCADIA, THE SINGAPORE 289843

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

24/08/2009

30/11/2009

NATIONALITY

:

DUTCH

I/C PASSPORT

:

G5849884Q

 

NAME

:

PHILLIP VAN SMITH

ADDRESS

:

276 OCEAN DRIVE #05-31 COAST @ SENTOSA COVE, THE SINGAPORE 098449

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

24/08/2009

30/09/2009

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G6325834U

 

 

KEY PERSONNEL PROFILE

 

Name:

John Frederick Quinn Jr

NRIC Number:

217087756

Available Address:

3005 QUAIL RUN LANE, ST CHARLES MISSOURI 63303 UNITED STATES OF AMERICA

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

PEABODY COALTRADE ASIA PRIVATE LTD.

DIRECTOR

24/08/2009

-

NA

 

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

 

 

 

 

 

 

Traces

Status

Last Updated Date

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 are no bank charges registered against Subject by its bankers.

 

           

Payment Profiling (The payment pattern of Subject for the past 12 months)

 

 Description

Percentage

Improve

0%

Consistent

0%

Deteriorate

0%

Alert

0%

No Trend

100%

 

Description

Improve:            Current month’s performance better than previous month

Consistent:        Trend found in the way debtors (based on at least 6 consecutive records)

Deteriorate:       Current month’s performance worse than previous month

Alert:                Negative List; Absolute refusal to make payment

No Trend:          Inconsistent; not able to categorize

 

Traces

Status

Last Updated Date

No Trace

 

 

 

LITIGATION

 

Clear

 

COMPLIANCE RECORDS

 

Date of Last AGM

 :

21/04/2011

Date of Last AR

 :

18/05/2011

Date of A/C Laid at Last AGM

 :

31/12/2010

 

 

FINANCIAL HIGHLIGHTS

 

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

24/08/2009

to

31/12/2010

$

Turnover

(20,770,097)

Profit Before Tax and Minority Interest

(31,080,185)

Profit After Tax and Minority Interest

(27,894,731)

ASSETS

 

Current Assets

222,372,486

Non-current Assets

11,924,821

Total Assets

234,297,307

LIABILITIES

 

Current Liabilities

260,128,921

Long-Term Liabilities

1,375,412

Total Liabilities

261,504,333

SHAREHOLDERS’ FUNDS

 

Share Capital

687,706

Retained Earnings

(27,894,731)

Shareholders Funds

(27,207,025)

 

Financial figures are presented in USD - USA as reflected in Subject's financial statements and are converted to S$ at the rate of S$1.375412 per USD - USA in FYE10 as presented in this report.

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

24/08/2009 to

31/12/2010

PROFITABILITY

 

  Rate of Net Profit (%)

134.30

  Return on Equity (%)

102.53

  Return on Assets (%)

-11.91

  Return on Capital Employed

1.19

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

-9.61

  Current Liabilities/Equity (times)

-9.56

  Long Term Liabilities/Equity (times)

-0.05

  Debt Service Cover Ratio

-120.50

  Short-term Borrowings-to-cash Ratio

NA

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

-0.09

  Fixed Assets Turnover (times)

-1.74

  Interest Coverage Ratio

-121.15

  Average Payment Period (days)

NA

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

0.85

  Quick Ratio (times)

0.85

  Average Collection Period (days)

NA

FINANCIAL COMMENTARY

 

Profitability

 

 

The company yielded a rate of net profit on sales of 134.30 per cent in FY10. The company is now able to book in $1.34 of profit for every dollar of sales.

 

 

Liquidity

 

Current ratio stood at 0.85 times in FY10. This means that the company has $0.85 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be lower than 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.

FINANCIAL COMMENTARY

 

Leverage

 

We are unable to comment on Subject's leverage

 

 

 

Efficiency Ratio

 

 

Return on equity was 102.53 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.

 

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

 

We are unable to comment on Subject's total assets turnover ratio.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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.