MIRA INFORM REPORT

 

 

Report Date :

18.09.2012

 

IDENTIFICATION DETAILS

 

Name :

COECLERICI ASIA (PTE.) LTD.

 

 

Formerly Known As :

Rag Trading Asia-Pacific Pte Ltd

 

 

Registered Office :

350 Orchard Road #16-01 Shaw House Singapore 238868

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.10.1999

 

 

Com. Reg. No.:

199906348r

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of solid, liquid and gaseous fuels and related products nec (eg bitumen)

Trading of solid fuels and wholesale of metallurgical raw materials

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 31st, 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

 

 

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:

COECLERICI ASIA (PTE.) LTD.

199906348R

 

Date Incorporated:

Registered Office:

Telephone Number:

16/10/1999

350 ORCHARD ROAD #16-01 SHAW HOUSE SINGAPORE 238868

6737 0750

Age of Company:

Website:

Industry Type:

13

www.coeclerici.com

COMMERCE-WHOLESALE

 

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):
2

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

COECLERICI COAL AND FUELS SPA

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

COECLERICI ASIA (PTE.) LTD.

Registration No

:

199906348R

Date of Registration

:

16/10/1999

Former Name

:

1.RAG TRADING ASIA-PACIFIC PTE LTD. Eff. date : 16/10/1999 Eff. date : 16/10/1999

2.CC CARBON (PTE.) LTD. Eff. date : 18/07/2007 Eff. date : 18/07/2007

Date of Change of Name

:

26/06/2009

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

350 ORCHARD ROAD #16-01 SHAW HOUSE SINGAPORE 238868

Date of Change of Address

:

25/11/1999

Contact No.

:

6737 0750

Fax No.

:

6733 0558

Website

:

www.coeclerici.com

Registered Activities

:

WHOLESALE OF SOLID, LIQUID AND GASEOUS FUELS AND RELATED PRODUCTS NEC (EG BITUMEN)

TRADING OF SOLID FUELS AND WHOLESALE OF METALLURGICAL RAW MATERIALS

Issued Ordinary Capital*

:

$3,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,000,000.00 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

:

DELOITTE & TOUCHE LLP

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SINGAPORE, DOLLARS 309,208,316.54 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 4,825,356.06 (FY2011)

No. of Bank Charges

:

2

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

649 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

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

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

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

862 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

15.76% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

COECLERICI COAL AND FUELS SPA

SHAREHOLDER ID

:

T10UF4092G

NATIONALITY

:

ITALY

ADDRESS

:

PIAZZA ARMANDO DIAZ 7-20123 MILAN

NO. OF ORD SHARES

:

3,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

WILLIAM ROBERT GRAYBEAL

ADDRESS

:

231 S. MATANZAS BLVD. ST. AUGUSTINE, FLORIDA 32080-4541 USA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/02/2012

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

422067325

 

NAME

:

GIACOMO CLERICI

ADDRESS

:

PIAZZA MONDADORI N. 3 20121 - MILANO, ITALY

POSITION

:

DIRECTOR

DATE OF APPT

:

22/06/2007

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

AA0437217

 

NAME

:

LIM TIONG BENG

ADDRESS

:

2 GUOK AVENUE SINGAPORE 119632

POSITION

:

DIRECTOR

DATE OF APPT

:

30/03/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1073678A

 

NAME

:

CHAN CHOW PHENG

ADDRESS

:

59 TELOK BLANGAH HEIGHTS #04-11 SINGAPORE 100059

POSITION

:

SECRETARY

DATE OF APPT

:

22/03/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1298885J

 

NAME

:

TEO CHIN KEE

ADDRESS

:

21 ELIAS ROAD #02-01 RIS GRANDEUR SINGAPORE 519929

POSITION

:

SECRETARY

DATE OF APPT

:

01/04/2006

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2622115C

 

NAME

:

GIOVANNI MARCHELLI

ADDRESS

:

SPIANATA DI CASTELLETTO 22/011 16124 GENOVA ITALY

POSITION

:

DIRECTOR

DATE OF APPT

:

22/06/2007

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

YA0142826

 

NAME

:

PAOLO CLERICI

ADDRESS

:

VIA SALVINI TOMMASO 5 MILANO ITALY

POSITION

:

DIRECTOR

DATE OF APPT

:

22/06/2007

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

YA0200179

 

 

 

NAME

:

URBANO CLERICI

ADDRESS

:

PIAZZA MONDADORI N.3 20121 - MILANO, ITALY

POSITION

:

DIRECTOR

DATE OF APPT

:

13/06/2011

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

YA2201847

 

 

KEY PERSONNEL PROFILE

 

Name:

URBANO CLERICI

NRIC Number:

YA2201847

Available Address:

PIAZZA MONDADORI N.3 20121 - MILANO, ITALY

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

COECLERICI ASIA (PTE.) LTD.

DIRECTOR

13/06/2011

-

-

2

COECLERICI ASIA (PTE.) LTD.

MANAGING DIRECTOR

31/03/2012

-

-

 

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

 

Company

Shareholdings (%)

 

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 2 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201206796

 

Date of Registration

:

22/06/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

2)

Charge No.

:

C201206789

 

Date of Registration

:

22/06/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

15/06/2012

Date of Last AR

:

13/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

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

 

Financial Figures

Company

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

309,208,317

-25.24

413,589,411

395,558,711

310,895,197

172,212,617

Profit/(Loss) Before Tax

(2,615,665)

NA

12,575,261

9,725,930

9,550,942

4,148,460

Profit After Tax attributable

 to Shareholders

(2,263,910)

NA

11,122,538

8,218,831

7,741,635

3,060,293

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

48,457,701

-47.18

91,745,308

65,130,335

55,411,415

51,359,135

Current Assets

47,039,741

-48.13

90,692,071

64,949,217

51,864,949

47,564,058

Non Current Assets

1,417,960

34.63

1,053,237

181,118

3,546,466

3,795,077

 

 

 

 

 

 

 

Total Liabilities

43,632,345

-38.07

70,454,241

45,525,707

35,905,287

38,830,545

Current Liabilities

43,632,345

-38.07

70,454,241

45,525,707

35,905,287

38,830,545

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

4,825,356

-77.34

21,291,067

19,604,627

19,506,128

12,528,591

Share Capital

2,504,514

-7.73

2,714,470

2,902,749

2,814,661

452,596

Total Reserves

2,320,842

-87.51

18,576,597

16,701,878

16,691,467

12,075,995

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

-25.24

4.56

27.23

80.53

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

-0.73

2.69

2.08

2.49

1.78

Return on Equity (%)

-46.92

52.24

41.92

39.69

24.43

Return on Assets (%)

-4.67

12.12

12.62

13.97

5.96

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

9.04

3.31

2.32

1.84

3.10

Current Debt/Equity (Times)

9.04

3.31

2.32

1.84

3.10

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

10.04

4.31

3.32

2.84

4.10

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

6.38

4.51

6.07

5.61

3.35

Fixed Assets Turnover (Times)

218.07

392.68

2,183.98

87.66

45.38

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.08

1.29

1.43

1.44

1.22

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 15.76% (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 1.08 times in FY11 (FY10: 1.29 times). This means that the company has SINGAPORE, DOLLARS 1.08 of current assets for every SINGAPORE, DOLLARS 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 9.04 times in FY11, compared with 3.31 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 9.04 for every SINGAPORE, DOLLARS 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 6.38 times in FY11 (FY10: 4.51 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.53.97

UK Pound

1

Rs.87.52

Euro

1

Rs.70.84

 

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.