MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

BS GLOBAL RESOURCES PTE. LTD

 

 

Registered Office :

8 Burn Road #11-09 Trivex Singapore 369977

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

22.02.2011      

 

 

Com. Reg. No.:

201104377C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General wholesale trade (including general importers and exporters)

Trading and dealing with coal, nickel, iron ore and other commodities

 

 

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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

Company Name:

Registered Number:

BS GLOBAL RESOURCES PTE. LTD.

201104377C

 

Date Incorporated:

Registered Office:

Telephone Number:

22/02/2011

8 BURN ROAD #11-09 TRIVEX SINGAPORE 369977

NA

Age of Company:

Website:

Industry Type:

1

NA

NA

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
1

Industry DTC

 

24 Days

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

BS TRANSCOMM LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

Executive Summary

 

Company Name

:

Bs Global Resources Pte. Ltd.

Registration No

:

201104377C

Date of Registration

:

22/02/2011

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

Limited Private Company

Registered Address

:

8 BURN ROAD #11-09 TRIVEX SINGAPORE 369977

Date of Change of Address

:

12/09/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

General Wholesale Trade (Including General Importers And Exporters)

Trading And Dealing With Coal, Nickel, Iron Ore And Other Commodities

Issued Ordinary Capital*

:

$6,006,330.00 SINGAPORE, DOLLARS NO. OF SHARE : 6,006,330

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$6,006,330.00 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

Holding Company

:

Bs Transcomm Limited

Listed Status

:

No

Staff Strength

:

NA

Auditor

:

V. P. Kumaran & Co.

Bankers / Financiers

:

Pt Bank Mandiri (Persero) Tbk

Turnover

:

$32,306,307.00 (FY2012)

Net Worth

:

$5,143,348.00 (FY2012)

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 1000

 

 

SHAREHOLDER DETAILS

 

NAME

:

BS TRANSCOMM LIMITED

SHAREHOLDER ID

:

T11UF2128F

NATIONALITY

:

INDIA

ADDRESS

:

504, TRENDSET TOWERS, ROAD NO. 2, BANJARA HILLS, HYDERABAD, ANDHRA PRADESH - 500034, INDIA

NO. OF ORD SHARES

:

6,006,330

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

AGRAWAL RAKESH SATYANARAYAN

ADDRESS

:

H. NO. 8-2-405/1 TO 3 ROAD NO.-6, BANJARA HILLS HYDERABAD AP-03, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

22/02/2011

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H3204415

 

NAME

:

AGARWAL RAJESH

ADDRESS

:

103, D-BLOCK, TRENDSET VALLEY VIEW, ROAD NO.4, BANJARA HILLS, HYDERABAD, AP, INDIA 500034

POSITION

:

DIRECTOR

DATE OF APPT

:

22/02/2011

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H3622903

 

NAME

:

LEE KEOW CHIN

ADDRESS

:

2C UPPER BOON KENG ROAD #18-674 SINGAPORE 383002

POSITION

:

DIRECTOR

DATE OF APPT

:

22/02/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1201750B

 

NAME

:

NABOOBALAN S/O RAMASAMY NAIDU

ADDRESS

:

229 ANG MO KIO AVENUE 3 #07-1290 SINGAPORE 560229

POSITION

:

SECRETARY

DATE OF APPT

:

29/05/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1410300G

 

KEY PERSONNEL PROFILE

 

Name:

AGRAWAL RAKESH SATYANARAYAN

NRIC Number:

H3204415

Available Address:

H. NO. 8-2-405/1 TO 3 ROAD NO.-6, BANJARA HILLS HYDERABAD AP-03, INDIA

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

BS FINCAPITAL PRIVATE LIMITED

DIRECTOR

30/09/2011

-

NA

2

BS GLOBAL RESOURCES PTE. LTD.

DIRECTOR

22/02/2011

-

NA

 

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.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

Company

Shareholdings (%)

 

NA

 

 

 

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:

 

1)

Charge No.

:

C201204533

 

Date of Registration

:

25/04/2012

 

Chargee

:

PT BANK MANDIRI (PERSERO) TBK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 ANSON ROAD, #12-01/02 SPRINGLEAF TOWER SINGAPORE 079909

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE RECORDS

 

Date of Last AGM

 :

25/07/2012

Date of Last AR

 :

02/08/2012

Date of A/C Laid at Last AGM

 :

31/03/2012

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

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

 

Auditor’s Comments – True and Fair? Yes

 

 

Company

FINANCIAL YEAR

31/03/2012

$

Turnover

32,306,307

Profit Before Tax and Minority Interest

1,493,879

Profit After Tax and Minority Interest

1,317,344

ASSETS

 

Current Assets

9,019,204

Non-current Assets

190,860

Total Assets

9,210,064

LIABILITIES

 

Current Liabilities

4,066,716

Long-Term Liabilities

0

Total Liabilities

4,066,716

SHAREHOLDERS’ FUNDS

 

Share Capital

3,826,004

Retained Earnings

1,317,344

Shareholders Funds

5,143,348

 

 

FINANCIAL RATIOS

 

 

Company

FINANCIAL YEAR END

31/03/2012

PROFITABILITY

 

  Rate of Net Profit (%)

4.08

  Return on Equity (%)

25.61

  Return on Assets (%)

14.30

  Return on Capital Employed

0.29

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

0.79

  Current Liabilities/Equity (times)

0.79

  Long Term Liabilities/Equity (times)

0.00

  Debt Service Cover Ratio

841.80

  Short-term Borrowings-to-cash Ratio

286.53

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

3.51

  Fixed Assets Turnover (times)

169.27

  Interest Coverage Ratio

NA

  Average Payment Period (days)

44

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

2.22

  Quick Ratio (times)

0.79

  Average Collection Period (days)

30

 

 

FINANCIAL COMMENTARY

 

Profitability

 

 

The company yielded a rate of net profit on sales of 4.08 per cent in FY12. The company is now able to book in $0.04 of profit for every dollar of sales.

 

 

Liquidity

 

Current ratio stood at 2.22 times in FY12. This means that the company has $2.22 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be higher than the industry norm for the sector in which the company is operating.

 

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 liabilities-to-equity ratio notched 0.79 times in FY12. This means that the company requires additional external financing of $0.79 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be within the industry norm for the sector in which the company is operating.

 

Generally, a total liability-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 25.61 per cent for Subject in the current financial period. 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 14.30 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 3.51 times in FY12. 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.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

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%)

 

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.