MIRA INFORM REPORT

 

 

Report Date :

21.09.2012

 

IDENTIFICATION DETAILS

 

Name :

XANGBO GLOBAL MARKETS PTE. LTD

 

 

Formerly Known As :

Xangbo Management Pte. Ltd.

 

 

Registered Office :

65 Chulia Street #36-01 Ocbc Centre Singapore 049513

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

24.07.2007

 

 

Com. Reg. No.:

200713446e

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other Investment Holding Companies

 

 

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 :

Slow but Correct

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:

XANGBO GLOBAL MARKETS PTE. LTD.

200713446E

 

Date Incorporated:

Registered Office:

Telephone Number:

24/07/2007

65 CHULIA STREET #36-01 OCBC CENTRE SINGAPORE 049513

6303 0730

Age of Company:

Website:

Industry Type:

5

NA

FINANCE

 

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):
6

Industry DTC

 

22

 

Directors

 

Corporate Structure

Number of Current Directors

1

Holding Company:

MARITIME TRADE CORP

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

XANGBO GLOBAL MARKETS PTE. LTD.

Registration No

:

200713446E

Date of Registration

:

24/07/2007

Former Name

:

XANGBO MANAGEMENT PTE. LTD. Eff. date : 24/07/2007 Eff. date : 24/07/2007

Date of Change of Name

:

23/12/2009

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

65 CHULIA STREET #36-01 OCBC CENTRE SINGAPORE 049513

Date of Change of Address

:

18/08/2011

Contact No.

:

6303 0730

Fax No.

:

NA

Website

:

NA

Registered Activities

:

OTHER INVESTMENT HOLDING COMPANIES

Issued Ordinary Capital*

:

$1,500,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,500,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,500,000.00 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

:

CITIC BANK INTERNATIONAL LIMITED SINGAPORE BRANCH

OVERSEA-CHINESE BANKING CORPORATION LIMITED

ICICI BANK LIMITED

STANDARD CHARTERED BANK

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SINGAPORE, DOLLARS 150,424,014.33 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 1,914,636.47 (FY2011)

No. of Bank Charges

:

6

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

MARITIME TRADE CORP

SHAREHOLDER ID

:

T10UF1163F

NATIONALITY

:

NA

ADDRESS

:

89 NEXUS WAY, CAMANA BAY KY1-9007 CAYMAN ISLANDS

NO. OF ORD SHARES

:

1,500,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ANDREW ANOOP SINGH

ADDRESS

:

57 GRANGE ROAD #19-04 LUCKY TOWER SINGAPORE 249569

POSITION

:

 

DIRECTOR

DATE OF APPT

:

 

03/05/2010

NATIONALITY

:

CANADIAN

I/C PASSPORT

:

G6035613R

 

NAME

:

ELENA MEZHERITSKAYA

ADDRESS

:

2 EWE BOON ROAD PRINCETON, THE SINGAPORE 259313

POSITION

:

SECRETARY

 

DATE OF APPT

:

26/04/2010

 

NATIONALITY

:

RUSSIAN

I/C PASSPORT

:

G6103178U

 

 

KEY PERSONNEL PROFILE

 

Name:

ANDREW ANOOP SINGH

NRIC Number:

G6035613R

Available Address:

57 GRANGE ROAD #19-04 LUCKY TOWER  SINGAPORE 249569

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

XANGBO GLOBAL MARKETS PTE. LTD.

DIRECTOR

03/05/2010

-

-

2

YARLUN CAPITAL (PTE.) LIMITED

SECRETARY

22/01/2010

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

XANGBO GLOBAL MARKETS PTE. LTD.

LIVE COMPANY

MANAGING DIRECTOR

03/05/2010

13/07/2012

2

XANGBO GLOBAL MARKETS PTE. LTD.

LIVE COMPANY

SECRETARY

03/08/2009

13/07/2012

 

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 6 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201113037

 

Date of Registration

:

17/10/2011

 

Chargee

:

CITIC BANK INTERNATIONAL LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C201113034

 

Date of Registration

:

17/10/2011

 

Chargee

:

CITIC BANK INTERNATIONAL LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201103499

 

Date of Registration

:

21/03/2011

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

4)

Charge No.

:

C201006815

 

Date of Registration

:

04/08/2010

 

Chargee

:

ICICI BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

9 RAFFLES PLACE #50-01 REPUBLIC PLAZA SINGAPORE 048619

 

5)

Charge No.

:

C201003168

 

Date of Registration

:

15/04/2010

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

6)

Charge No.

:

C200907796

 

Date of Registration

:

30/11/2009

 

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

:

29/11/2011

Date of Last AR

:

15/12/2011

Date of A/C Laid At Last AGM

:

30/06/2011
 

 

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

Group

 

JUN 2011

% Change

JUN 2010

JUN 2009

Currency

SINGAPORE, DOLLARS

 

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

Turnover

150,424,014

-36.97

238,662,783

5,284,075

Profit/(Loss) Before Tax

(708,727)

NA

976,542

501,778

Profit After Tax attributable to Shareholders

(811,203)

NA

817,209

356,502

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

197,795,731

-26.56

269,332,443

5,452,012

Current Assets

197,787,951

-8.40

215,927,816

5,449,155

Non Current Assets

7,780

-99.99

53,404,627

2,857

 

 

 

 

 

Total Liabilities

195,881,094

-26.47

266,394,531

5,121,982

Current Liabilities

195,881,094

-8.04

212,999,339

5,121,982

Non Current Liabilities

0

-100.00

53,395,192

0

 

 

 

 

 

Shareholders' Funds

1,914,636

-34.83

2,937,911

330,031

Share Capital

1,746,996

-8.49

1,909,013

1

Total Reserves

167,641

-83.71

1,028,898

330,030

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

JUN 2011

JUN 2010

JUN 2009

Growth %

 

 

 

Year-on-Year Growth

-36.97

4,416.64

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

NA

0.34

6.75

Return on Equity (%)

NA

27.82

108.02

Return on Assets (%)

NA

0.30

6.54

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

102.31

90.67

15.52

Current Debt/Equity (Times)

102.31

72.50

15.52

Long Term Debt To Equity (Times)

NA

18.17

NA

Total Asset To Total Equity (Times)

103.31

91.67

16.52

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

0.76

0.89

0.97

Fixed Assets Turnover (Times)

19,335.90

4.47

1,849.52

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.01

1.01

1.06

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2011

% Change

JUN 2010

JUN 2009

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

Turnover

*

NA

0

0

Profit/(Loss) Before Tax

*

NA

0

0

Profit After Tax attributable

 to Shareholders

*

NA

0

0

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

167,309,255

-22.42

215,667,261

5,410,895

Current Assets

166,270,171

3.18

161,138,557

5,103,542

Non Current Assets

1,039,084

-98.09

54,528,704

307,353

 

 

 

 

 

Total Liabilities

165,504,294

-22.00

212,180,604

4,508,388

Current Liabilities

165,504,294

4.23

158,787,308

4,508,388

Non Current Liabilities

0

-100.00

53,393,295

0

 

 

 

 

 

Shareholders' Funds

1,804,961

-48.23

3,486,658

902,507

Share Capital

1,746,996

-8.48

1,908,945

1

Total Reserves

57,965

-96.33

1,577,712

902,506

 

 

 

 

 

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

JUN 2011

JUN 2010

JUN 2009

Growth %

 

 

 

Year-on-Year Growth

NA

NA

NA

 

 

 

 

Profitability

 

 

 

Profit Margin (%)

0.00

0.00

0.00

Return on Equity (%)

0.00

0.00

0.00

Return on Assets (%)

0.00

0.00

0.00

 

 

 

 

Leverage

 

 

 

Total Debt/Equity (Times)

91.69

60.86

5.00

Current Debt/Equity (Times)

91.69

45.54

5.00

Long Term Debt To Equity (Times)

0.00

15.31

0.00

Total Asset To Total Equity (Times)

92.69

61.86

6.00

 

 

 

 

Asset Management

 

 

 

Total Assets Turnover (Times)

0.00

0.00

0.00

Fixed Assets Turnover (Times)

0.00

0.00

0.00

 

 

 

 

Liquidity

 

 

 

Current Ratio (Times)

1.00

1.01

1.13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

s

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 1.01 times in FY11 (FY10: 1.01 times). This means that the group has SINGAPORE, DOLLARS 1.01 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 102.31 times in FY11, compared with 90.67 times in FY10. This means that the group requires additional external financing of SINGAPORE, DOLLARS 102.31 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 0.76 times in FY11 (FY10: 0.89 times). This ratio measures the group'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.54.34

UK Pound

1

Rs.87.91

Euro

1

Rs.70.57

 

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.