MIRA INFORM REPORT

Report Date :

21.02.2012

IDENTIFICATION DETAILS

Name :	REGIONAL RUBBER TRADING CO. PTE LTD

Registered Office :	65 Chulia Street #44-01 Ocbc Centre Singapore 049513

Country :	Singapore

Financials (as on) :	31.12.2010

Date of Incorporation :	23.03.2001

Com. Reg. No.:	200101933z

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 :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	S$1,000,000
Status :	Good
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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	:	REGIONAL RUBBER TRADING CO. PTE LTD
Registration No	:	200101933Z
Date of Registration	:	23/03/2001
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	65 CHULIA STREET #44-01 OCBC CENTRE SINGAPORE 049513
Date of Change of Address	:	NA
Contact No.	:	6535 4055
Fax No.	:	6535 3552
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) RUBBER AND LATEX TRADING
Issued Ordinary Capital*	:	$50,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 50,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$50,000,000.00 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	:	ERNST & YOUNG LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 2,501,610,818.00 (FY2010)
Net Worth	:	SGD - SIN 103,046,978.00 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 500 / FG50 Ranking	:	244 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 164 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 153 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007) 864 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2006/2007) 856 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2005/2006)
Compounded Annual Growth Rate (CAGR)	:	11.19% (4 years)

Credit Recommendation

Recommended Credit Line

S$1,000,000

SHAREHOLDER DETAILS

NAME	:	LEE RUBBER COMPANY (PTE) LIMITED
SHAREHOLDER ID	:	193100023M
NATIONALITY	:	SINGAPORE
ADDRESS	:	65 CHULIA STREET #44-01 OCBC CENTRE SINGAPORE 049513
NO. OF ORD SHARES	:	17,500,000
% OF SHAREHOLDING	:	35%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	SINGAPORE INVESTMENTS (PTE) LIMITED
SHAREHOLDER ID	:	194700087Z
NATIONALITY	:	SINGAPORE
ADDRESS	:	65 CHULIA STREET #44-01 OCBC CENTRE SINGAPORE 049513
NO. OF ORD SHARES	:	17,500,000
% OF SHAREHOLDING	:	35%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	LEE LATEX (PTE) LIMITED
SHAREHOLDER ID	:	194700088K
NATIONALITY	:	SINGAPORE
ADDRESS	:	65 CHULIA STREET #44-01 OCBC CTR SINGAPORE 049513
NO. OF ORD SHARES	:	5,000,000
% OF SHAREHOLDING	:	10%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	TROPICAL PRODUCE COMPANY (PTE) LIMITED
SHAREHOLDER ID	:	194700092W
NATIONALITY	:	SINGAPORE
ADDRESS	:	65 CHULIA STREET #44-01 OCBC CTR SINGAPORE 049513
NO. OF ORD SHARES	:	5,000,000
% OF SHAREHOLDING	:	10%
CURRENCY	:	SINGAPORE, DOLLARS

NAME	:	KOTA TRADING COMPANY SDN. BERHAD
SHAREHOLDER ID	:	T03UF0151H
NATIONALITY	:	NA
ADDRESS	:	28TH FLOOR WISMA LEE RUBBER NO. 1 JALAN MELAKA, 50100 KUALA LUMPUR
NO. OF ORD SHARES	:	5,000,000
% OF SHAREHOLDING	:	10%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	LIM KOK ENG
ADDRESS	:	236 LORONG 1 TOA PAYOH #03-74 SINGAPORE 310236
POSITION	:	DIRECTOR
DATE OF APPT	:	09/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0158706D

NAME	:	FONG SOON YONG
ADDRESS	:	10 JEDBURGH GARDENS FRANKEL ESTATE SINGAPORE 457075
POSITION	:	SECRETARY
DATE OF APPT	:	30/03/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0168896J

NAME	:	CHONG KWOK KIAN
ADDRESS	:	7 SECOND STREET SINGAPORE 456326
POSITION	:	SECRETARY DIRECTOR
DATE OF APPT	:	30/03/2001 09/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0280308I

NAME	:	HUANG THIAY SHERNG
ADDRESS	:	4 YARROW GARDENS FRANKEL ESTATE SINGAPORE 455009
POSITION	:	DIRECTOR MANAGER
DATE OF APPT	:	23/03/2001 09/04/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0289427J

NAME	:	TAN KHIAM HOCK
ADDRESS	:	201 BISHAN STREET 23 #06-471 SINGAPORE 570201
POSITION	:	DIRECTOR
DATE OF APPT	:	23/03/2001
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0507950J

KEY PERSONNEL PROFILE

Name:	HUANG THIAY SHERNG
NRIC Number:	S0289427J
Available Address:	4 YARROW GARDENS FRANKEL ESTATE SINGAPORE 455009

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ANSON COMPANY (PRIVATE) LIMITED	DIRECTOR	15/11/1994	-	-
2	CHEQUERS PROPERTIES PTE. LTD.	DIRECTOR	13/10/2000	-	-
3	GRAND HOTEL (PRIVATE) LIMITED	DIRECTOR	19/09/1995	10	0.66
4	HERALD INVESTMENT PTE LTD	DIRECTOR	08/04/2000	-	-
5	ISLAND INVESTMENT COMPANY (PRIVATE) LIMITED	DIRECTOR	22/09/1995	-	-
6	KALLANG DEVELOPMENT (PTE) LIMITED	DIRECTOR	10/05/2007	10	0.00
7	KALLANG WAREHOUSING CO.PTE LTD	DIRECTOR	13/10/2000	-	-
8	KNOWLEDGE ONE INVESTMENT PTE LTD	DIRECTOR	24/06/2000	-	-
9	KNOWLEDGE TWO INVESTMENT PTE LTD	DIRECTOR	13/10/2000	-	-
10	LEE FOUNDATION	DIRECTOR	20/12/1988	-	-
11	LEE LATEX (PTE) LIMITED	DIRECTOR	01/12/1998	-	-
12	LEE LATEX (PTE) LIMITED	MANAGER	01/08/1972	-	-
13	LEE PINEAPPLE COMPANY (PTE) LIMITED	DIRECTOR	27/12/1993	-	-
14	LEE PLANTATIONS (PTE) LTD	DIRECTOR	19/10/1995	-	-
15	LEE RUBBER COMPANY (PTE) LIMITED	DIRECTOR	28/06/1995	-	-
16	LEE RUBBER COMPANY (PTE) LIMITED	MANAGER	13/04/1992	-	-
17	MID-CITY INVESTMENTS HOLDING COMPANY PTE LTD	DIRECTOR	07/11/1996	-	-
18	PARAMOUNT ASSETS INVESTMENTS PTE. LTD.	DIRECTOR	09/04/2007	-	-
19	PINEAPPLES OF MALAYA PRIVATE LIMITED	DIRECTOR	08/08/2005	-	-
20	RAFFLES INVESTMENTS LIMITED	SHAREHOLDER	-	4000	0.08
21	REGIONAL RUBBER TRADING CO. PTE LTD	DIRECTOR	23/03/2001	-	-
22	REGIONAL RUBBER TRADING CO. PTE LTD	MANAGER	09/04/2001	-	-
23	SINGAPORE RUBBER MILLERS ASSOCIATION	DIRECTOR	02/12/1980	-	-
24	SOUTH ASIA SHIPPING COMPANY PRIVATE LIMITED	DIRECTOR	22/09/1995	-	-
25	THE INVESTORS (SINGAPORE) PTE LTD	SHAREHOLDER	-	75000	3.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ANSON COMPANY (PRIVATE) LIMITED	LIVE COMPANY	SHAREHOLDER	-	14/02/2012
2	CASUARINA PROPERTIES (PTE) LTD	LIVE COMPANY	DIRECTOR	10/09/1994	03/10/2003
3	CHEQUERS PROPERTIES PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	23/11/2011
4	ISLAND INVESTMENT COMPANY (PRIVATE) LIMITED	LIVE COMPANY	SHAREHOLDER	-	07/12/2011
5	KNOWLEDGE ONE INVESTMENT PTE LTD	LIVE COMPANY	SHAREHOLDER	-	29/07/2011
6	KOTA DEVELOPMENT PTE LTD	LIVE COMPANY	DIRECTOR	16/05/1994	10/08/2001
7	KWALITY SHIPPING AGENCIES PTE LTD	LIVE COMPANY	DIRECTOR	20/12/1988	07/08/2003
8	L R CAPITAL PTE LTD	STRUCK OFF	DIRECTOR	20/02/1998	05/04/2011
9	LEE FOUNDATION	LIVE COMPANY	SHAREHOLDER	-	04/01/2012
10	MBLI BULKING & TRADING PTE LTD	STRUCK OFF	DIRECTOR	30/04/1982	11/06/1986
11	MID-CITY INVESTMENTS HOLDING COMPANY PTE LTD	LIVE COMPANY	SHAREHOLDER	-	03/10/2011
12	PULAU PROPERTIES (PTE) LTD	LIVE COMPANY	DIRECTOR	10/09/1994	03/10/2003
13	REGIONAL RUBBER TRADING CO. PTE LTD	LIVE COMPANY	SHAREHOLDER	-	09/02/2012
14	SINGAPORE COMMODITY EXCHANGE LIMITED	LIVE COMPANY	DIRECTOR	14/11/1991	30/06/2008
15	SINGAPORE ENGINEERS (PRIVATE) LIMITED	LIVE COMPANY	DIRECTOR	29/01/1996	30/06/2000
16	SINGAPORE RUBBER HOUSE CORPORATION PTE LTD	STRUCK OFF	DIRECTOR	01/05/1980	09/03/1989
17	TROPICAL PRODUCE COMPANY (PTE) LIMITED	LIVE COMPANY	DIRECTOR	23/06/1981	11/09/2003
18	TROPICAL WAREHOUSING CO. PTE LTD	LIVE COMPANY	DIRECTOR	20/09/1996	03/10/2003

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 are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	30/06/2011
Date of Last AR	:	22/07/2011
Date of A/C Laid At Last AGM	:	31/12/2010

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	2,501,610,818	126.73	1,103,354,615	1,781,215,274	1,671,988,030	1,636,538,097
Profit/(Loss) Before Tax	6,671,555	81.99	3,665,828	(1,253,697)	10,568,135	10,051,671
Profit After Tax attributable to Shareholders	6,171,555	174.03	2,252,124	(836,951)	9,129,648	8,414,671

Balance Sheet Key Figures
Total Assets	381,531,790	128.91	166,673,627	131,635,442	212,929,278	191,414,261
Current Assets	380,944,998	128.86	166,455,931	130,992,349	212,738,201	191,216,857
Non Current Assets	586,792	169.55	217,696	643,093	191,077	197,404

Total Liabilities	278,484,812	301.86	69,298,204	36,012,143	115,969,028	103,173,659
Current Liabilities	278,484,812	301.86	69,298,204	36,012,143	115,969,028	103,173,659
Non Current Liabilities	0	NA	0	0	0	0

Shareholders' Funds	103,046,978	5.82	97,375,423	95,623,299	96,960,250	88,240,602
Share Capital	50,000,000	0.00	50,000,000	50,000,000	50,000,000	50,000,000
Total Reserves	53,046,978	11.97	47,375,423	45,623,299	46,960,250	38,240,602

FINANCIAL RATIOS

	Company
	DEC 2010	DEC 2009	DEC 2008	DEC 2007	DEC 2006
Growth %
Year-on-Year Growth	126.73	-38.06	6.53	2.17	NA

Profitability
Profit Margin (%)	0.25	0.20	-0.05	0.55	0.51
Return on Equity (%)	5.99	2.31	-0.88	9.42	9.54
Return on Assets (%)	1.62	1.35	-0.64	4.29	4.40

Leverage
Total Debt/Equity (Times)	2.70	0.71	0.38	1.20	1.17
Current Debt/Equity (Times)	2.70	0.71	0.38	1.20	1.17
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	3.70	1.71	1.38	2.20	2.17

Asset Management
Total Assets Turnover (Times)	6.56	6.62	13.53	7.85	8.55
Fixed Assets Turnover (Times)	4,263.20	5,068.33	2,769.76	8,750.34	8,290.30

Liquidity
Current Ratio (Times)	1.37	2.40	3.64	1.83	1.85

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 11.19% (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 0.25 per cent in FY10 (FY09: 0.20 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.00 a year ago.

Liquidity

Current ratio stood at 1.37 times in FY10 (FY09: 2.40 times). This means that the company has SGD - SIN 1.37 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 2.70 times in FY10, as compared with 0.71 times in FY09. This means that the company requires additional external financing of SGD - SIN 2.70 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 5.99 per cent for Subject in the current financial period, as compared to 2.31 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 1.62 per cent (FY09: 1.35 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 6.56 times in FY10 (FY09: 6.62 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.49.21
UK Pound	1	Rs.77.75
Euro	1	Rs.64.58

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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