MIRA
INFORM REPORT
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Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
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Name : |
CONCORDIA AGRITRADING PTE LTD |
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Formerly Known As : |
TRANSPALM AGENCY PTE. LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
06.03.1985 |
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Com. Reg. No.: |
198500536M |
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Legal Form : |
Limited Private Company |
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Line of Business : |
General Wholesale Trade (Including General Importers And
Exporters |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Company Name: |
Registered Number: |
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CONCORDIA AGRITRADING PTE LTD |
198500536M |
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Date Incorporated: |
Registered Office: |
Telephone Number: |
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06/03/1985 |
135 CECIL STREET #06-01 LKN BUILDING SINGAPORE 069536 |
6225 5325 |
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Age of Company: |
Website: |
Industry Type: |
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27 |
www.concordia-sin.com |
COMMERCE-WHOLESALE |
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Risk Dashboard |
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Days Beyond Terms |
Trend: |
No. of Litigation Counts: |
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Company DTC: |
3 |
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NA |
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The entity is
paying current to the creditors |
No. of Charges(s): |
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Industry DTC |
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24 |
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Directors |
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Corporate
Structure |
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Number of
Current Directors |
3 |
Holding Company: |
NIDERA HANDELSCOMPAGNIE B.V |
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Number that are
shareholders |
1 |
No. of
Subsidiaries & Associated Companies: |
NA |
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EXECUTIVE SUMMARY
SHAREHOLDER DETAILS
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: |
NIDERA HANDELSCOMPAGNIE B.V |
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SHAREHOLDER ID |
: |
S85UF0101B |
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NATIONALITY |
: |
NETHERLANDS |
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ADDRESS |
: |
WILLEMSPLEIN 492-3016 DR ROTTERDAM THE NETHERLANDS |
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NO. OF ORD SHARES |
: |
11,410,000 |
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% OF SHAREHOLDING |
: |
100% |
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CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
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: |
DANIEL
GERRIT COR VAN VLIET |
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ADDRESS |
: |
ONDER
DEN DAEL 23, 1261 CM BLARICUM THE NETHERLANDS |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
23/03/2011 |
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NATIONALITY |
: |
DUTCH |
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I/C PASSPORT |
: |
BU7CRK4J4 |
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NAME |
: |
MARCELO
LUIS BIANCHINI MARTINS |
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ADDRESS |
: |
135 CECIL
STREET #06-01 SINGAPORE 069536 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
15/12/2011 |
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NATIONALITY |
: |
BRAZILIAN |
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I/C PASSPORT |
: |
G5028992W |
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NAME |
: |
ONG
LIAN KIN ESTHER |
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ADDRESS |
: |
5
JALAN ISHAK SINGAPORE 419321 |
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POSITION |
: |
SECRETARY |
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DATE OF APPT |
: |
01/03/1991 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S1126307J |
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NAME |
: |
LIM
BOON KIAT |
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ADDRESS |
: |
86
WILKIE ROAD #01-11 WILKIE STUDIO SINGAPORE 228096 |
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POSITION |
: |
DIRECTOR |
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DATE OF APPT |
: |
16/05/2011 |
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NATIONALITY |
: |
SINGAPORE
CITIZEN |
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I/C PASSPORT |
: |
S7030024I |
KEY PERSONNEL PROFILE
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DANIEL GERRIT COR VAN VLIET |
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NRIC Number: |
BU7CRK4J4 |
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Available Address: |
ONDER DEN DAEL 23, 1261 CM
BLARICUM THE NETHERLANDS |
Current Business Interest
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No. |
Name |
Position |
Appt Date |
#of Share |
% |
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CONCORDIA AGRITRADING PTE LTD |
DIRECTOR |
23/03/2011 |
- |
- |
Previous Business
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No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
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Bankruptcy Record
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Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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Litigation Search – Writ of Summons
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Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE COMPANIES
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Company |
Shareholdings (%) |
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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:
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Charge
No. |
: |
C200905515 |
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Date of Registration |
: |
02/09/2009 |
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Chargee |
: |
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.
(TRADING AS RABOBANK INTL), LONDON BRANCH |
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Amount Secured and
Currency |
: |
800,000,000.00 U.S. DOLLAR |
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Address |
: |
--- |
LITIGATION
there have been 3 litigation suits filed against Subject.
The details are as follows:
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Court |
: |
District
Court |
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Case
No. |
: |
1459 |
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Transfer |
: |
- |
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Date
of Filing |
: |
18/04/2001 |
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Amount
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: |
0.00 |
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Cause |
: |
Contracts
- Employment |
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Case
Status |
: |
CONCLUDED |
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Plaintiff |
: |
LUTZ
MAHN |
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Last
Update Date |
: |
27/07/2007 |
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2) |
Court |
: |
Supreme
Court |
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Case
No. |
: |
2346 |
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Transfer |
: |
- |
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Date
of Filing |
: |
NA |
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Amount
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: |
0.00 |
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Cause |
: |
NA |
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Case
Status |
: |
NA |
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Plaintiff |
: |
CHOICES
UNLIMITED SERVICES P/L |
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Last Update Date |
: |
25/07/1991 |
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3) |
Court |
: |
Supreme
Court |
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Case
No. |
: |
1332 |
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Transfer |
: |
- |
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Date
of Filing |
: |
03/07/1997 |
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Amount
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: |
76,068.75 |
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Cause |
: |
CONTRACTS-GENERAL |
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Case
Status |
: |
CONCLUDED |
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Plaintiff |
: |
P T
BUDI SEMESTA SATRIA |
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Last Update Date |
: |
26/12/2002 |
COMPLIANCE
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Date of Last AGM |
: |
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Date of Last AR |
: |
27/02/2012 |
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Date of A/C Laid At Last AGM |
: |
30/09/2011 |
COMPLIANCE RATING FOR ANNUAL FILING
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
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Financial Figures |
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SEP 2011 |
% Change |
SEP 2010 |
SEP 2009 |
SEP 2008 |
SEP 2007 |
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Currency |
SGD - SIN |
|
SGD - SIN |
SGD - SIN |
SGD - SIN |
SGD - SIN |
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Profit and Loss Key Figures |
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7,613,705,154 |
36.75 |
5,567,427,335 |
4,094,966,993 |
4,355,249,993 |
2,900,218,008 |
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Profit/(Loss) Before Tax |
(4,828,751) |
NA |
(12,664,041) |
31,411,936 |
224,457,752 |
35,572,242 |
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Profit After Tax attributable to
Shareholders |
(4,587,307) |
NA |
(12,031,229) |
28,978,420 |
213,365,954 |
33,571,479 |
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Balance Sheet Key Figures |
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Total Assets |
731,793,172 |
45.59 |
502,636,472 |
456,008,273 |
522,432,723 |
189,134,184 |
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Current Assets |
711,139,701 |
47.35 |
482,632,336 |
449,780,446 |
520,363,824 |
187,341,792 |
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Non Current Assets |
20,653,471 |
3.25 |
20,004,136 |
6,227,827 |
2,068,899 |
1,792,392 |
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Total Liabilities |
578,955,721 |
75.58 |
329,740,435 |
148,427,156 |
257,210,478 |
132,724,851 |
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Current Liabilities |
578,955,721 |
75.58 |
329,740,435 |
148,427,156 |
257,210,478 |
132,724,851 |
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Non Current Liabilities |
0 |
NA |
0 |
0 |
0 |
0 |
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Shareholders' Funds |
152,837,452 |
-11.60 |
172,896,037 |
307,581,117 |
265,222,246 |
56,409,333 |
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Share Capital |
10,164,191 |
-8.95 |
11,163,100 |
11,889,863 |
11,318,828 |
12,312,634 |
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Total Reserves |
142,673,261 |
-11.78 |
161,732,937 |
295,691,254 |
253,903,418 |
44,096,699 |
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FINANCIAL RATIOS
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SEP
2011 |
SEP
2010 |
SEP
2009 |
SEP
2008 |
SEP
2007 |
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Growth % |
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36.75 |
35.96 |
-5.98 |
50.17 |
NA |
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Profitability |
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Profit Margin (%) |
-0.06 |
-0.22 |
0.71 |
4.90 |
1.16 |
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Return on Equity (%) |
-3.00 |
-6.96 |
9.42 |
80.45 |
59.51 |
|
Return on Assets (%) |
-0.63 |
-2.39 |
6.35 |
40.84 |
17.75 |
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Leverage |
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Total Debt/Equity (Times) |
3.79 |
1.91 |
0.48 |
0.97 |
2.35 |
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Current Debt/Equity (Times) |
3.79 |
1.91 |
0.48 |
0.97 |
2.35 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
4.79 |
2.91 |
1.48 |
1.97 |
3.35 |
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Asset Management |
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Total Assets Turnover (Times) |
10.40 |
11.08 |
8.98 |
8.34 |
15.33 |
|
Fixed Assets Turnover (Times) |
368.64 |
278.31 |
657.53 |
2,105.11 |
1,618.07 |
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Liquidity |
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Current Ratio (Times) |
1.23 |
1.46 |
3.03 |
2.02 |
1.41 |
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FINANCIAL COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 27.29% (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
We are unable to comment on
Subject's profitability.
Liquidity
Current ratio stood at 1.23 times in FY11
(FY10: 1.46 times). This means that the company has SGD - SIN 1.23 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 3.79 times in FY11, compared with 1.91 times in FY10. This means that
the company requires additional external financing of SGD - SIN 3.79 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.
Total assets turnover ratio logged at 10.40 times in FY11 (FY10: 11.08
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.56.01 |
|
UK Pound |
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.