MIRA INFORM REPORT

 

 

Report Date :

08.04.2013

 

IDENTIFICATION DETAILS

 

Name :

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

 

 

Registered Office :

77 Robinson Road #28-00 Robinson 77 Singapore 068896

 

 

Country :

Singapore

 

 

Financials (as on) :

December, 2011

 

 

Date of Incorporation :

14.02.2003

 

 

Com. Reg. No.:

200301302K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Brokers and Dealers of Commodity and Futures

 

 

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:

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

200301302K

 

Date Incorporated:

Registered Office:

Telephone Number:

14/02/2003

77 ROBINSON ROAD #28-00 ROBINSON 77 SINGAPORE 068896

62270090

Age of Company:

Website:

Industry Type:

10

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

5

Holding Company:

BUNGE GLOBAL MARKETS, LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

Company name

 

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

Registration No

:

200301302K

Date of Registration

:

14/02/2003

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

77 ROBINSON ROAD #28-00 ROBINSON 77 SINGAPORE 068896

Date of Change of Address

:

19/07/2004

Contact No.

:

62270090

Fax No.

:

62277335

Website

:

NA

Registered Activities

:

1. COMMODITY AND FUTURES BROKERS AND DEALERS

2. OTHER PERSONAL SERVICE ACTIVITIES NEC

Issued Ordinary Capital*

:

$2,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 2,000,000

$22,000,000.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 22,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$22,000,000.00 UNITED STATES OF AMERICA, DOLLARS

$2,000,000.00 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

:

NA

Turnover

:

SGD - SIN 16,529,741,599.00 (FY2011)

Net Worth

:

SGD - SIN 37,041,366.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

Compounded Annual Growth Rate (CAGR)

:

15.5% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

BUNGE GLOBAL MARKETS, LTD.

SHAREHOLDER ID

:

T04UF0456K

NATIONALITY

:

BERMUDA

ADDRESS

:

CLARENDON HOUSE, 2 CHURCH STREET HAMILTON HM 11, BERMUDA

NO. OF ORD SHARES

:

2,000,000

22,000,000

% OF SHAREHOLDING

:

8.3%

91.7%

CURRENCY

:

SINGAPORE, DOLLARS

UNITED STATES OF AMERICA, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

FRANS HENDRIK JOHAN MARIE MOL

ADDRESS

:

3 EVERTON ROAD SINGAPORE 089360

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

01/11/2011

01/11/2011

NATIONALITY

:

DUTCH

I/C PASSPORT

:

F1663460M

 

NAME

:

MICHAEL DAVID GOETTL

ADDRESS

:

12 HARLYN ROAD DUNEARN ESTATE SINGAPORE 299453

POSITION

:

DIRECTOR

DATE OF APPT

:

31/08/2010

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

F2008706N

 

NAME

:

EDWIN WRYCROFT WHITELEY

ADDRESS

:

204 OCEAN DRIVE #03-05 BERTH BY THE COVE, THE SINGAPORE 098628

POSITION

:

DIRECTOR

DATE OF APPT

:

14/09/2012

NATIONALITY

:

BRITISH

I/C PASSPORT

:

G5236852P

 

NAME

:

CHRISTOPHER SILVA WHITE

ADDRESS

:

11 UNITY STREET #08-15 SINGAPORE 237995

POSITION

:

DIRECTOR

DATE OF APPT

:

06/06/2003

NATIONALITY

:

AMERICAN

I/C PASSPORT

:

G5704709M

 

NAME

:

CHOONG MOH HUAT

ADDRESS

:

2 KITCHENER LINK #19-05 CITY SQUARE RESIDENCES SINGAPORE 207229

POSITION

:

DIRECTOR

DATE OF APPT

:

13/06/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2599756E

 

 

KEY PERSONNEL PROFILE

 

Name:

CHRISTOPHER SILVA WHITE

NRIC Number:

G5704709M

Available Address:

11 UNITY STREET #08-15  SINGAPORE 237995

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BUNGE AGRIBUSINESS SINGAPORE PTE LTD

DIRECTOR

06/06/2003

-

NA

2

BUNGE INDO-CHINA HOLDINGS PTE. LTD.

DIRECTOR

16/12/2009

-

NA

3

GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE. LTD.

DIRECTOR

06/06/2003

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BUNGE INDO-CHINA HOLDINGS PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

01/03/2012

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

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

:

15/08/2012

Date of Last AR

:

12/09/2012

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

16,529,741,599

94.63

8,493,011,778

6,611,995,074

11,381,017,896

9,289,358,057

Profit/(Loss) Before Tax

10,501,189

-3.17

10,845,308

7,317,893

5,494,959

8,456,637

Profit After Tax attributable

 to Shareholders

8,525,880

-12.32

9,723,597

6,577,089

4,944,470

7,177,037

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

307,550,451

388.25

62,989,845

61,033,461

198,465,806

113,487,429

Current Assets

307,534,758

388.36

62,972,836

61,016,727

198,451,696

113,472,403

Non Current Assets

15,693

-7.74

17,009

16,734

14,110

15,026

 

 

 

 

 

 

 

Total Liabilities

270,509,086

743.16

32,082,643

38,380,540

182,877,817

102,152,619

Current Liabilities

270,509,086

743.16

32,082,643

38,380,540

182,877,817

102,152,619

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

37,041,366

19.85

30,907,202

22,652,921

15,587,989

11,334,810

Share Capital

1,490,414

-7.74

1,615,421

1,727,468

1,675,046

1,783,839

Total Reserves

35,550,952

21.37

29,291,781

20,925,453

13,912,943

9,550,971

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

94.63

28.45

-41.90

22.52

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.05

0.11

0.10

0.04

0.08

Return on Equity (%)

23.02

31.46

29.03

31.72

63.32

Return on Assets (%)

2.77

15.44

10.78

2.49

6.32

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

7.30

1.04

1.69

11.73

9.01

Current Debt/Equity (Times)

7.30

1.04

1.69

11.73

9.01

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

8.30

2.04

2.69

12.73

10.01

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

53.75

134.83

108.33

57.34

81.85

Fixed Assets Turnover (Times)

1,053,319.42

499,324.58

395,123.41

806,592.34

618,218.96

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.14

1.96

1.59

1.09

1.11

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 15.5% (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 0.05 per cent in FY11 (FY10: 0.11 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.00 a year ago.

 

Liquidity

 

Current ratio stood at 1.14 times in FY11 (FY10: 1.96 times). This means that the company has SGD - SIN 1.14 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 7.30 times in FY11, as compared with 1.04 times in FY10. This means that the company requires additional external financing of SGD - SIN 7.30 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 23.02 per cent for Subject in the current financial period, as compared to 31.46 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 2.77 per cent (FY10: 15.44 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 53.75 times in FY11 (FY10: 134.83 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.54.88

UK Pound

1

Rs.83.54

Euro

1

Rs.70.90

 

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.