MIRA INFORM REPORT

 

 

Report Date :           

03.01.2012

 

IDENTIFICATION DETAILS

 

Name :

NESTE OIL SINGAPORE PTE. LTD.

 

 

Registered Office :

9 Battery Road #15-01 Straits Trading Building Singapore 049910

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

21.08.2007

 

 

Com. Reg. No.:

200715350k

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Manufacture of basic chemicals

 

 

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

 

Maximum Credit Limit :

S$1,000,000

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 – September 30th, 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

:

NESTE OIL SINGAPORE PTE. LTD.

Registration No

:

200715350K

Date of Registration

:

21/08/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

9 BATTERY ROAD #15-01 STRAITS TRADING BUILDING SINGAPORE 049910

Date of Change of Address

:

01/02/2010

Commercial Postal Address

:

250 North Bridge Road, #17-01 Raffles City Tower Singapore 179101, Singapore

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

MANUFACTURE OF BASIC CHEMICALS NEC

Issued Ordinary Capital*

:

$120,000,000.00 SINGAPORE, DOLLARS,

NO. OF SHARE : 120,000,000

Issued Preference Capital

:

$590,558,500.00 EUROS NO. OF SHARE : 1,264,850,075

Paid-Up Ordinary Capital

:

$120,000,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

$590,558,500.00 EUROS

* 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 0.00 (FY2009)

Net Worth

:

SGD - SIN 1,005,978,892.00 (FY2009)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

NESTE RENEWABLE FUELS OY

SHAREHOLDER ID

:

T07UF2762A

NATIONALITY

:

FINLAND

ADDRESS

:

KEILARANTA 21 02150 ESPOO, FINLAND

NO. OF ORD SHARES

:

120,000,000

1,264,850,075   

% OF SHAREHOLDING

:

91.3%

CURRENCY

:

SINGAPORE, DOLLARS

EUROS

 

 

OFFICER DETAILS

 

NAME

:

KAISA HELENA HIETALA

ADDRESS

:

201 OCEAN DRIVE #02-06 AZURE, THE SINGAPORE 098584

POSITION

:

DIRECTOR

DATE OF APPT

:

17/05/2010

NATIONALITY

:

FINNISH

I/C PASSPORT

:

G6082209W

 

NAME

:

PETRI ANTERO JOKINEN

ADDRESS

:

250 NORTH BRIDGE ROAD #17-01 RAFFLES CITY TOWER SINGAPORE 179101

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

11/05/2009

11/05/2009

NATIONALITY

:

FINNISH

I/C PASSPORT

:

G6274419M

 

NAME

:

JARMO ILARI HONKAMAA

ADDRESS

:

KYLPYLANTIE 12, 02700 KAUNIAINEN, FINLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/05/2010

NATIONALITY

:

FINNISH

I/C PASSPORT

:

PG1875019

 

NAME

:

ILKKA KRISTIAN ILMONEN

ADDRESS

:

POHJOISKAARI 21 C 10, 00200 HELSINKI, FINLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

17/05/2010

NATIONALITY

:

FINNISH

I/C PASSPORT

:

PP9689017

 

NAME

:

CHAN POH KUAN

ADDRESS

:

863 TAMPINES STREET 83 #10-484 SINGAPORE 520863

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1637928Z

 

NAME

:

ABDUL JABBAR BIN KARAM DIN

ADDRESS

:

21 SIGLAP HILL FRANKEL ESTATE SINGAPORE 456076

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S6936625B

 

 

KEY PERSONNEL PROFILE

 

Name:

PETRI ANTERO JOKINEN

NRIC Number:

G6274419M

Available Address:

250 NORTH BRIDGE ROAD #17-01 RAFFLES CITY TOWER  SINGAPORE 179101

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

NESTE OIL SINGAPORE PTE. LTD.

DIRECTOR

11/05/2009

-

-

2

NESTE OIL SINGAPORE PTE. LTD.

MANAGING DIRECTOR

11/05/2009

-

-

 

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

 

 

 

 

 

 

 

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 RECORDS

 

Date of Last AGM

:

23/04/2010

Date of Last AR

:

11/05/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

0

NA

0

0

Profit/(Loss) Before Tax

(12,204,575)

NA

754,974

(29,948)

Profit After Tax attributable to Shareholders

(12,075,040)

NA

608,436

(29,948)

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

1,108,582,016

184.32

389,901,458

31,691,467

Current Assets

371,348,332

99.96

185,712,995

19,989,989

Non Current Assets

737,233,684

261.06

204,188,463

11,701,478

 

 

 

 

 

Total Liabilities

102,603,125

38.10

74,294,328

11,756,382

Current Liabilities

102,603,125

38.10

74,294,328

11,756,382

Non Current Liabilities

0

NA

0

0

 

 

 

 

 

Shareholders' Funds

1,005,978,892

218.74

315,607,131

19,935,085

Share Capital

1,025,907,383

215.49

325,180,894

19,965,033

Total Reserves

(19,928,491)

NA

(9,573,763)

(29,948)

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

Year-on-Year Growth

NA

NA

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

NA

NA

NA

Return on Equity (%)

NA

0.19

NA

Return on Assets (%)

NA

0.16

NA

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

0.10

0.24

0.59

Current Debt/Equity (Times)

0.10

0.24

0.59

Long Term Debt To Equity (Times)

NA

NA

NA

Total Asset To Total Equity (Times)

1.10

1.24

1.59

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

NA

NA

NA

Fixed Assets Turnover (Times)

NA

NA

NA

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

3.62

2.50

1.70

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 3.62 times in FY09 (FY08: 2.50 times). This means that the company has SGD - SIN 3.62 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 0.10 times in FY09, as compared with 0.24 times in FY08. This means that the company requires additional external financing of SGD - SIN 0.10 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

 

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

 

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.53.30

UK Pound

1

Rs.82.66

Euro

1

Rs.68.91

 

 

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.