MIRA INFORM REPORT

Report Date :

12.05.2012

IDENTIFICATION DETAILS

Name :	CATERPILLAR S.A.R.L. - SINGAPORE BRANCH
Registered Office :	7 Tractor Road Singapore 627968
Country :	Singapore
Financials (as on) :	30.11.2012
Date of Incorporation :	27.08.1999
Com. Reg. No.:	S99FC5744H
Legal Form :	Foreign Company Registered In Singapore
Line of Business :	Wholesale Of Industrial, Construction And Related Machinery And Equipment
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

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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Singapore	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Name:	Registered Number:
CATERPILLAR S.A.R.L. - SINGAPORE BRANCH	S99FC5744H

Date Incorporated:	Registered Office:	Telephone Number:
27/08/1999	7 TRACTOR ROAD SINGAPORE 627968	6662 8333
Age of Company:	Website:	Industry Type:
13	www.cat.com	COMMERCE-WHOLESALE

Credit Assessment		Risk Dashboard
Risk & Rating		Days Beyond Terms		Trend:	No. of Litigation Counts:
Credit Limit:		Company DTC:			NA
Fairly Large		NA
	The entity is paying current to the creditors		No. of Charges(s): 0
	Industry DTC
	28

Directors		Corporate Structure
Number of Current Directors	18	Holding Company:	NA
Number that are shareholders	NA	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	CATERPILLAR S.A.R.L. - SINGAPORE BRANCH
Registration No	:	S99FC5744H
Date of Registration	:	27/08/1999
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	FOREIGN COMPANY REGISTERED IN SINGAPORE
Registered Address	:	7 TRACTOR ROAD SINGAPORE 627968
Date of Change of Address	:	NA
Contact No.	:	6662 8333
Fax No.	:	6662 8302
Website	:	www.cat.com
Registered Activities	:	1. WHOLESALE OF INDUSTRIAL, CONSTRUCTION AND RELATED MACHINERY AND EQUIPMENT NEC 2. MANUFACTURE AND REPAIR OF ENGINES AND TURBINES EXCEPT AIRCRAFT, VEHICLE AND CYCLE ENGINES
Issued Ordinary Capital*	:	NA
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	NA
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	:	NA
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 7,608,363,636.00 (FY2010)
Net Worth	:	SGD - SIN 1,436,126,246.00 (FY2010)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	7.78% (4 years)

SHAREHOLDER DETAILS

No Trace

OFFICER DETAILS

NAME	:	GERARD R. VITTECOQ
ADDRESS	:	248 ROUTE DE CORTENAZ, 74380 CRANVES-SALES, FRANCE
POSITION	:	DIRECTOR
DATE OF APPT	:	20/12/2000
NATIONALITY	:	FRENCH
I/C PASSPORT	:	07CI86385
NAME	:	TORSTEN U.G. BARTSCH
ADDRESS	:	272 RUE DE LA FRUITIERE 01170 CESSY, FRANCE
POSITION	:	DIRECTOR
DATE OF APPT	:	23/11/2010
NATIONALITY	:	GERMAN
I/C PASSPORT	:	350131647
NAME	:	JILL E. DAUGHERTY
ADDRESS	:	CHEMIN DES HUTINS 35 1247 ANIERES, SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	22/07/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	712599874
NAME	:	PAOLO FELLIN
ADDRESS	:	CHEMIN FRANK-THOMAS 80 1208 GENEVA, SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	13/08/2004
NATIONALITY	:	ITALIAN
I/C PASSPORT	:	AA4588711
NAME	:	CHRISTIANO V. SCHENA
ADDRESS	:	LA LUCHE DUCROT, ROUTE DE MESSERY, 74140 NERNIER, FRANCE
POSITION	:	DIRECTOR
DATE OF APPT	:	20/12/2000
NATIONALITY	:	ITALIAN
I/C PASSPORT	:	B371436
NAME	:	JAMES MICHAEL ROONEY
ADDRESS	:	1 CEDARWOOD GROVE SINGAPORE 738382
POSITION	:	AGENT
DATE OF APPT	:	01/06/2008
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	G6032713R
NAME	:	FOO TOCK NGAN
ADDRESS	:	160 YUNG PING ROAD #09-41 SINGAPORE 610160
POSITION	:	AGENT
DATE OF APPT	:	18/04/2005
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1368900H
NAME	:	THOMAS ZIHLMANN
ADDRESS	:	ROUTE DE SEZEGNIN 32 1285 ATHENAZ SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	10/05/2010
NATIONALITY	:	SWISS
I/C PASSPORT	:	X1528602

KEY PERSONNEL PROFILE

Name:	GERARD R. VITTECOQ
NRIC Number:	07CI86385
Available Address:	248 ROUTE DE CORTENAZ, 74380 CRANVES-SALES, FRANCE

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
No Trace

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	:	23/05/2011
Date of Last AR	:	NA
Date of A/C Laid At Last AGM	:	30/11/2010

COMPLIANCE RATING FOR ANNUAL FILING

-	NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

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
	NOV 2010	% Change	NOV 2009	NOV 2008	NOV 2007	NOV 2006
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	7,608,363,636	37.83	5,520,201,910	8,469,546,956	6,967,827,319	5,638,688,767
Profit/(Loss) Before Tax	498,359,857	2,751.79	17,475,348	275,775,989	349,167,411	146,923,498
Profit After Tax attributable to Shareholders	471,427,267	2,652.68	17,126,107	255,080,355	331,737,323	138,515,198
Balance Sheet Key Figures
Total Assets	2,181,270,528	47.44	1,479,419,918	1,945,035,824	1,538,297,182	1,288,096,366
Current Assets	2,015,085,599	49.29	1,349,800,639	1,826,259,349	1,414,232,070	1,165,104,414
Non Current Assets	166,184,929	28.21	129,619,279	118,776,475	124,065,112	122,991,952
Total Liabilities	745,144,283	36.46	546,043,244	939,895,926	738,573,969	842,077,389
Current Liabilities	738,329,990	35.42	545,216,426	938,908,004	737,517,010	840,960,743
Non Current Liabilities	6,814,293	724.16	826,818	987,922	1,056,959	1,116,646
Shareholders' Funds	1,436,126,246	53.86	933,376,675	1,005,139,897	799,723,214	446,018,976
Share Capital	0	NA	0	0	0	0
Total Reserves	1,436,126,246	53.86	933,376,675	1,005,139,897	799,723,214	446,018,976

FINANCIAL RATIOS

	Company
	NOV 2010	NOV 2009	NOV 2008	NOV 2007	NOV 2006
Growth %
Year-on-Year Growth	37.83	-34.82	21.55	23.57	NA
Profitability
Profit Margin (%)	6.20	0.31	3.01	4.76	2.46
Return on Equity (%)	32.83	1.83	25.38	41.48	31.06
Return on Assets (%)	21.61	1.16	13.11	21.57	10.75
Leverage
Total Debt/Equity (Times)	0.52	0.59	0.94	0.92	1.89
Current Debt/Equity (Times)	0.51	0.58	0.93	0.92	1.89
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	1.52	1.59	1.94	1.92	2.89
Asset Management
Total Assets Turnover (Times)	3.49	3.73	4.35	4.53	4.38
Fixed Assets Turnover (Times)	45.78	42.59	71.31	56.16	45.85
Liquidity
Current Ratio (Times)	2.73	2.48	1.95	1.92	1.39

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 7.78% (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 6.20 per cent in FY10 (FY09: 0.31 per cent). The company is now able to book in SGD - SIN 0.06 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 2.73 times in FY10 (FY09: 2.48 times). This means that the company has SGD - SIN 2.73 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 0.52 times in FY10, compared with 0.59 times in FY09. This means that the company requires additional external financing of SGD - SIN 0.52 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 32.83 per cent for Subject in the current financial period, as compared to 1.83 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 21.61 per cent (FY09: 1.16 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 3.49 times in FY10 (FY09: 3.73 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.53.64
UK Pound	1	Rs.86.42
Euro	1	Rs.69.28

INFORMATION DETAILS

Report Prepared by :

PRL

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.