MIRA INFORM REPORT

 

 

Report Date :           

12.05.2012

 

IDENTIFICATION DETAILS

 

Name :

WILMAR TRADING PTE LTD

 

 

Registered Office :

56 Neil Road Singapore 088830

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.06.1988

 

 

Com. Reg. No.:

198802023W

 

 

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 :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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 – 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

:

WILMAR TRADING PTE LTD

Registration No

:

198802023W

Date of Registration

:

21/06/1988

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

56 NEIL ROAD SINGAPORE 088830

Date of Change of Address

:

17/12/1993

Contact No.

:

6216 0244

Fax No.

:

6223 6635

Website

:

www.wilmar-international.com

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

$289,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 289,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$289,000,000.00 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 17,871,829,236.00 (FY2010)

Net Worth

:

SGD - SIN 931,056,447.00 (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

2

S1000 / SME 500 / FG50 Ranking

:

7 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

29 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

7 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

12 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2008/2009)

270 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

24.47% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

WILMAR INTERNATIONAL LIMITED

SHAREHOLDER ID

:

199904785Z

NATIONALITY

:

SINGAPORE

ADDRESS

:

56 NEIL ROAD SINGAPORE 088830

NO. OF ORD SHARES

:

289,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TEO KIM YONG

ADDRESS

:

19A YARWOOD AVENUE SINGAPORE 588015

POSITION

:

DIRECTOR

DATE OF APPT

:

01/10/1992

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0128906C

 

NAME

:

CHUA PHUAY HEE

ADDRESS

:

7 GALLOP WALK SINGAPORE 258933

POSITION

:

DIRECTOR

DATE OF APPT

:

18/09/2002

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0161068F

 

NAME

:

PUN CHUI WUN

ADDRESS

:

145 MEI LING STREET #09-125 SINGAPORE 140145

POSITION

:

SECRETARY

DATE OF APPT

:

25/07/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1152387J

 

NAME

:

TAN TIANG SOON COLIN

ADDRESS

:

30 TAI HWAN CRESCENT TAI HWAN PARK SINGAPORE 555592

POSITION

:

SECRETARY

DATE OF APPT

:

02/05/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1713527I

 

NAME

:

KUOK KHONG HONG @KUOK KHOON HONG

ADDRESS

:

6 QUEEN ASTRID GARDENS QUEENS ASTRID GARDENS SINGAPORE 266865

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

01/04/1991

01/11/1994

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2507689C

 

 

KEY PERSONNEL PROFILE

 

Name:

KUOK KHONG HONG @KUOK KHOON HONG

NRIC Number:

S2507689C

Available Address:

6 QUEEN ASTRID GARDENS QUEENS ASTRID GARDENS  SINGAPORE 266865

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

DELMAR PTE. LTD.

DIRECTOR

29/11/2006

-

-

2

HANRU INVESTMENTS (PTE) LTD

MANAGER

16/07/1991

-

-

3

HONG LEE HOLDINGS (PTE) LTD

DIRECTOR

08/04/1991

187500

7.50

4

JOSOVINA COMMODITIES PTE LTD

DIRECTOR

04/04/2001

-

-

5

KHS & SONS PTE LTD

DIRECTOR

26/04/1991

-

-

6

LEE KUAN YEW EXCHANGE FELLOWSHIP

DIRECTOR

15/06/2010

-

-

7

LENCE PTE. LTD.

DIRECTOR

25/10/2006

-

-

8

LONGHLIN PTE LTD

DIRECTOR

11/04/1991

-

-

9

LONGHLIN PTE LTD

MANAGING DIRECTOR

11/04/1991

-

-

10

NAUVU INVESTMENTS PTE. LTD.

DIRECTOR

19/11/2007

-

-

11

SECURA FORMS PTE LTD

DIRECTOR

04/10/1994

-

-

12

SECURA SINGAPORE PTE. LTD.

DIRECTOR

04/10/1994

-

-

13

WCA PTE. LTD.

DIRECTOR

07/12/2010

-

-

14

WII PTE. LTD.

DIRECTOR

18/12/2007

-

-

15

WILMAR AFRICA INVESTMENTS PTE. LTD.

DIRECTOR

29/11/2005

-

-

16

WILMAR CONSULTANCY SERVICES PTE. LTD.

DIRECTOR

23/07/2009

-

-

17

WILMAR INTERNATIONAL LIMITED

DIRECTOR

24/03/2006

-

-

18

WILMAR SEED INVESTMENTS PTE. LTD.

DIRECTOR

03/04/2008

-

-

19

WILMAR SUGAR PTE. LTD.

DIRECTOR

08/11/2010

-

-

20

WILMAR TRADING PTE LTD

DIRECTOR

01/04/1991

-

-

21

WILMAR TRADING PTE LTD

MANAGING DIRECTOR

01/11/1994

-

-

22

WILMAR-DELTA HOLDINGS PTE. LTD.

DIRECTOR

02/04/2008

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ACALPO WILMAR PTE LTD

LIVE COMPANY

DIRECTOR

18/09/2002

27/04/2004

2

ADANI-WILMAR (SINGAPORE) PTE LTD

STRUCK OFF

DIRECTOR

08/03/1999

02/08/2003

3

ANALISA SHIPPING CO PTE LTD

LIVE COMPANY

DIRECTOR

13/01/1995

20/06/2003

4

BRANWELL PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/08/1995

01/08/1996

5

DELIGO PTE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

DIRECTOR

28/06/1999

21/09/1999

6

EBELIAN HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

12/05/1994

01/03/2004

7

GOLD RIVER PTE. LTD.

LIVE COMPANY

DIRECTOR

19/01/2004

24/09/2004

8

GRAND SILVER LAIYANG SINGAPORE PTE LTD

STRUCK OFF

DIRECTOR

31/07/2001

06/06/2007

9

HPRY PTE. LTD.

LIVE COMPANY

DIRECTOR

21/12/2007

05/10/2009

10

KENSPOT INTERNATIONAL PTE LTD

LIVE COMPANY

DIRECTOR

12/07/2000

29/11/2006

11

LISA SHIPPING CO. PTE LTD

LIVE COMPANY

DIRECTOR

08/06/1993

20/06/2003

12

MONALISA SHIPPING CO PTE LTD

LIVE COMPANY

DIRECTOR

30/04/1999

20/06/2003

13

NANYANG CHINESE INVESTMENTS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

11/11/1992

09/07/2002

14

NOREL-WILMAR PTE LTD

STRUCK OFF

DIRECTOR

26/03/2001

25/05/2005

15

NSL WILMAR PTE. LTD.

LIVE COMPANY

DIRECTOR

07/11/1996

31/08/2004

16

OLAM WILMAR INVESTMENT HOLDINGS PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

25/07/2008

25/06/2010

17

OPULENT INVESTMENTS PTE LTD

STRUCK OFF

DIRECTOR

14/11/1992

12/02/2003

18

SASA SHIPPING CO PTE. LTD.

LIVE COMPANY

DIRECTOR

20/02/1997

20/06/2003

19

SECURITY PRINTERS (S) PTE LTD

STRUCK OFF

DIRECTOR

04/10/1994

07/12/2007

20

THERESA SHIPPING CO PTE LTD

STRUCK OFF

DIRECTOR

30/03/1995

20/06/2003

21

TRADESOUND INVESTMENTS LIMITED

CEASED REGISTRATION

DIRECTOR

23/12/1992

28/12/2007

22

VIGRO PTE LTD

STRUCK OFF

DIRECTOR

15/06/1995

20/06/2003

23

VINOMAX TRADING PTE LTD

LIVE COMPANY

DIRECTOR

07/01/1997

30/09/2004

24

WILMAR CHINA INVESTMENTS (YIHAI) PTE. LTD.

LIVE COMPANY

DIRECTOR

13/03/2003

01/09/2007

25

WILMAR CHINA INVESTMENTS PTE LTD

LIVE COMPANY

DIRECTOR

14/07/2000

01/09/2007

26

WILMAR CHINA NEW INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

07/11/2006

01/09/2007

27

WILMAR CHINA NORTHEAST INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

04/01/2002

01/09/2007

28

WILMAR FERTILIZER INDONESIA PTE LTD

LIVE COMPANY

DIRECTOR

28/02/1997

29/11/2006

29

WILMAR FUJIAN INVESTMENTS PTE LTD

LIVE COMPANY

DIRECTOR

16/05/1997

01/09/2007

30

WILMAR GOLDEN SEA INVESTMENT PTE LTD

LIVE COMPANY

DIRECTOR

10/11/1999

01/09/2007

31

WILMAR GREAT OCEAN INVESTMENT PTE LTD

LIVE COMPANY

DIRECTOR

29/05/2000

01/09/2007

32

WILMAR HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

08/04/1991

02/05/1991

33

WILMAR HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

08/04/1991

18/10/2011

34

WILMAR HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

30/04/1991

18/10/2011

35

WILMAR PLANTATIONS LIMITED

CEASED REGISTRATION

DIRECTOR

04/08/1992

28/12/2007

36

WILMAR RESOURCES PTE LTD

LIVE COMPANY

DIRECTOR

15/09/1997

29/11/2006

37

WILMAR YIHAI INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

28/12/2001

01/09/2007

38

WILMAR-ADM CHINA INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

08/08/2002

01/09/2007

39

WILMAR-ADM FLOUR INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

24/06/2004

01/09/2007

 

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

D

1277

1999

11/03/1999

SGD 81,000.00

Property Related

 

 

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

 

there have been 2 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

502

 

Date of Filing

:

26/04/2001

 

Amount

:

8,112,597.22

 

Cause

:

Tort (General)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

JIELONG SHIPPING (ST.VINCENT) CO LTD (ST.VINCENT AND THE GRANADINE

 

Last Update Date

:

21/07/2011

 

2)

Court

:

Magistrate Court

 

Case No.

:

7561

 

Date of Filing

:

21/04/1997

 

Amount

:

0.00

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KEY OCEAN SHIPPING PTE LTD

 

Last Update Date

:

21/07/2011

 

 

 

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

17,871,829,236

-15.99

21,274,127,403

28,762,153,930

16,867,195,882

7,446,748,390

Profit/(Loss) Before Tax

403,911,423

-52.79

855,475,601

1,709,676,997

(8,022,472)

174,479,374

Profit After Tax attributable to Shareholders

378,896,755

-53.90

821,988,625

1,607,684,669

(8,022,472)

163,470,247

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

5,152,994,239

32.68

3,883,859,112

5,802,798,361

5,005,439,615

1,553,776,122

Current Assets

5,109,432,549

31.92

3,873,190,077

5,796,821,471

4,999,519,303

1,551,662,700

Non Current Assets

43,561,690

308.30

10,669,035

5,976,890

5,920,312

2,113,422

 

 

 

 

 

 

 

Total Liabilities

4,221,937,792

70.19

2,480,707,828

3,725,521,459

4,771,428,053

1,251,060,778

Current Liabilities

4,214,870,056

69.91

2,480,707,828

3,133,325,375

4,771,381,472

1,251,011,665

Non Current Liabilities

7,067,736

NA

0

592,196,084

46,581

49,113

 

 

 

 

 

 

 

Shareholders' Funds

931,056,447

-33.65

1,403,151,284

2,077,276,902

234,011,561

302,715,345

Share Capital

272,150,000

-6.49

291,026,600

282,195,000

63,509,610

66,960,967

Total Reserves

658,906,447

-40.75

1,112,124,684

1,795,081,902

170,501,951

235,754,378

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-15.99

-26.03

70.52

126.50

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.12

3.86

5.59

-0.05

2.20

Return on Equity (%)

40.70

58.58

77.39

-3.43

54.00

Return on Assets (%)

7.35

21.16

27.71

-0.16

10.52

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

4.53

1.77

1.79

20.39

4.13

Current Debt/Equity (Times)

4.53

1.77

1.51

20.39

4.13

Long Term Debt To Equity (Times)

0.01

0.00

0.29

0.00

0.00

Total Asset To Total Equity (Times)

5.53

2.77

2.79

21.39

5.13

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.47

5.48

4.96

3.37

4.79

Fixed Assets Turnover (Times)

410.26

1,994.01

4,812.23

2,849.04

3,523.55

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.21

1.56

1.85

1.05

1.24

 

 

 

 

 

 

 

Compound Annual Growth Rate

 

The company's CAGR is 24.47% (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 2.12 per cent in FY10 (FY09: 3.86 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY10, as compared with SGD - SIN 0.04 a year ago.

 

 

Liquidity

 

Current ratio stood at 1.21 times in FY10 (FY09: 1.56 times). This means that the company has SGD - SIN 1.21 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 4.53 times in FY10, as compared with 1.77 times in FY09. This means that the company requires additional external financing of SGD - SIN 4.53 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 40.70 per cent for Subject in the current financial period, as compared to 58.58 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 7.35 per cent (FY09: 21.16 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 3.47 times in FY10 (FY09: 5.48 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 :

PDT

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.