MIRA INFORM REPORT

Report Date :

02.04.2013

IDENTIFICATION DETAILS

Name :	NATURAL FOREST PTE. LTD.

Registered Office :	133 Cecil Street #10-01(B) Keck Seng Tower Singapore 069535

Country :	Singapore

Financials (as on) :	July 2011

Date of Incorporation :	27.08.2007

Com. Reg. No.:	200715726R

Legal Form :	Limited Private Company

Line of Business :	Wholesale of Logs, Sawn Timber, Plywood and Related Products

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

26-40

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

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:
NATURAL FOREST PTE. LTD.	200715726R

Date Incorporated:	Registered Office:	Telephone Number:
27/08/2007	133 CECIL STREET #10-01(B) KECK SENG TOWER SINGAPORE 069535	6238 5920
Age of Company:	Website:	Industry Type:
6	NA	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): 0
Industry DTC
25

Directors		Corporate Structure
Number of Current Directors	3	Holding Company:	SENT OVERSEAS INVESTMENT PTE. LTD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	NATURAL FOREST PTE. LTD.
Registration No	:	200715726R
Date of Registration	:	27/08/2007
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	133 CECIL STREET #10-01(B) KECK SENG TOWER SINGAPORE 069535
Date of Change of Address	:	25/06/2010
Contact No.	:	6238 5920
Fax No.	:	62385920
Website	:	NA
Registered Activities	:	1. WHOLESALE OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS TRADING OF TIMBER AND WOOD PRODUCTS ETC 2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
Issued Ordinary Capital*	:	$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000 $970,804.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 970,804
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$970,804.00 UNITED STATES OF AMERICA, DOLLARS $100,000.00 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	:	C. S. CHAN & ASSOCIATES PAC
Bankers / Financiers	:	NA
Turnover	:	SINGAPORE, DOLLARS 231,813,595.77 (FY2011)
Net Worth	:	SINGAPORE, DOLLARS 1,816,332.18 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	1093 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012) 1402 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 1649 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)
Compounded Annual Growth Rate (CAGR)	:	82.97% (3 years)

SHAREHOLDER DETAILS

NAME	:	SENT OVERSEAS INVESTMENT PTE. LTD.
SHAREHOLDER ID	:	200715725E
NATIONALITY	:	SINGAPORE
ADDRESS	:	133 CECIL STREET #10-01(B) KECK SENG TOWER SINGAPORE 069535
NO. OF ORD SHARES	:	100,000 970,804
% OF SHAREHOLDING	:	9.3% 90.7%
CURRENCY	:	SINGAPORE, DOLLARS UNITED STATES OF AMERICA, DOLLARS

OFFICER DETAILS

NAME	:	HAMZA ASHRAF SAUDAGAR MERCHANT
ADDRESS	:	MERCHANT HOME, 245 WATER FIELD ROAD BANDRA (W) MUMBAI 400050
POSITION	:	DIRECTOR
DATE OF APPT	:	01/04/2012
NATIONALITY	:	INDIAN
I/C PASSPORT	:	G2711722

NAME	:	YONG ING FATT
ADDRESS	:	12 WIMBORNE ROAD SINGAPORE 436641
POSITION	:	DIRECTOR
DATE OF APPT	:	27/08/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S0203127B

NAME	:	TAN HWEE BIN
ADDRESS	:	120 JURONG EAST STREET 13 #01-83 IVORY HEIGHTS SINGAPORE 600120
POSITION	:	SECRETARY
DATE OF APPT	:	27/08/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S6814026I

NAME	:	ASHRAF SAUDAGAR KASSAM MERCHANT
ADDRESS	:	BRIGHTLANDS 195 TURNER ROAD, BANDRA MUMBAI 400050
POSITION	:	DIRECTOR
DATE OF APPT	:	01/04/2012
NATIONALITY	:	INDIAN
I/C PASSPORT	:	Z2160910

KEY PERSONNEL PROFILE

Name:	YONG ING FATT
NRIC Number:	S0203127B
Available Address:	12 WIMBORNE ROAD SINGAPORE 436641

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	EVERGREEN TEAK TRADING PTE LTD	DIRECTOR	16/12/1994	400000	80.00
2	EVERGREEN TEAK TRADING PTE LTD	MANAGING DIRECTOR	16/12/1994	400000	80.00
3	NATURAL FOREST PTE. LTD.	DIRECTOR	27/08/2007	-	NA
4	SENT OVERSEAS INVESTMENT PTE. LTD.	DIRECTOR	27/08/2007	-	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

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

Date of Last AGM	:	28/02/2012
Date of Last AR	:	05/03/2012
Date of A/C Laid At Last AGM	:	31/07/2011

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
	JUL 2011	% Change	JUL 2010	JUL 2009	JUL 2008
Currency	SINGAPORE, DOLLARS		SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	231,813,596	60.76	144,196,964	106,079,130	37,845,028
Profit/(Loss) Before Tax	308,068	194.24	104,701	154,830	77,119
Profit After Tax attributable to Shareholders	267,395	155.87	104,505	150,497	77,119

Balance Sheet Key Figures
Total Assets	44,241,179	69.79	26,056,529	40,192,047	23,134,417
Current Assets	44,237,143	69.87	26,042,405	40,179,892	23,132,315
Non Current Assets	4,036	-71.42	14,124	12,155	2,102

Total Liabilities	42,424,847	64.98	25,714,608	39,908,321	22,950,981
Current Liabilities	42,424,847	64.98	25,714,608	39,908,321	22,950,981
Non Current Liabilities	0	NA	0	0	0

Shareholders' Funds	1,816,332	431.21	341,922	283,726	183,436
Share Capital	1,333,296	1,169.36	105,037	110,529	106,317
Total Reserves	483,037	103.91	236,885	173,197	77,119

FINANCIAL RATIOS

	Company
	JUL 2011	JUL 2010	JUL 2009	JUL 2008
Growth %
Year-on-Year Growth	60.76	35.93	180.30	NA

Profitability
Profit Margin (%)	0.12	0.07	0.14	0.20
Return on Equity (%)	14.72	30.56	53.04	42.04
Return on Assets (%)	0.60	0.40	0.37	0.33

Leverage
Total Debt/Equity (Times)	23.36	75.21	140.66	125.12
Current Debt/Equity (Times)	23.36	75.21	140.66	125.12
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	24.36	76.21	141.66	126.12

Asset Management
Total Assets Turnover (Times)	5.24	5.53	2.64	1.64
Fixed Assets Turnover (Times)	57,431.73	10,209.36	8,727.20	18,004.29

Liquidity
Current Ratio (Times)	1.04	1.01	1.01	1.01

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 82.97% (3 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 0.12 per cent in FY11 (FY10: 0.07 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

Liquidity

Current ratio stood at 1.04 times in FY11 (FY10: 1.01 times). This means that the company has SINGAPORE, DOLLARS 1.04 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 23.36 times in FY11, compared with 75.21 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 23.36 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

Return on equity was 14.72 per cent for Subject in the current financial period, as compared to 30.56 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 0.60 per cent (FY10: 0.40 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 5.24 times in FY11 (FY10: 5.53 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.54.38
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

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.