MIRA INFORM REPORT

 

 

Report Date :

10.04.2013

 

IDENTIFICATION DETAILS

 

Name :

PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.

 

 

Registered Office :

1 Temasek Avenue #27-00 Millenia Tower Singapore 039192

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

14.10.2004

 

 

Com. Reg. No.:

200413294G

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Wholesale of Petrochemical Products

 

 

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 :

Good

Payment Behaviour :

Regular

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

(31.03.2011)

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:

PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.

200413294G

 

Date Incorporated:

Registered Office:

Telephone Number:

14/10/2004

1 TEMASEK AVENUE #27-00 MILLENIA TOWER SINGAPORE 039192

6411 7511

Age of Company:

Website:

Industry Type:

9

www.petrochinaintl.com.cn

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

 

27

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

PETROCHINA INTERNATIONAL CO., LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

3

 

EXECUTIVE SUMMARY

 

Company Name

:

PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.

Registration No

:

200413294G

Date of Registration

:

14/10/2004

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

1 TEMASEK AVENUE #27-00 MILLENIA TOWER SINGAPORE 039192

Date of Change of Address

:

01/06/2011

Contact No.

:

6411 7511

Fax No.

:

6411 7500

Website

:

www.petrochinaintl.com.cn

Registered Activities

:

WHOLESALE OF PETROCHEMICAL PRODUCTS

Issued Ordinary Capital*

:

$880,648,483.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 880,648,483

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$880,648,483.00 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

:

1

No. of Local Associates

:

2

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 38,735,671,876.00 (FY2011)

Net Worth

:

SGD - SIN 1,969,993,133.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

70 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2011/2012)

7 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

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

75 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

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

Compounded Annual Growth Rate (CAGR)

:

49.84% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

PETROCHINA INTERNATIONAL CO., LTD

SHAREHOLDER ID

:

T04UF2164K

NATIONALITY

:

NA

ADDRESS

:

NO. 27, CHENGFANG STREET, BEIJING 100033, CHINA.

NO. OF ORD SHARES

:

880,648,483

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

XIA HONGWEI

ADDRESS

:

29 AMBER ROAD #17-03 SEA VIEW, THE SINGAPORE 439942

POSITION

:

DIRECTOR

SECRETARY

DATE OF APPT

:

14/10/2004

18/01/2005

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G5621287L

 

NAME

:

SHEN DINGCHENG

ADDRESS

:

NO. 27, CHENGFANG STREET, XICHENG DISTRICT, BEIJING 100033, CHINA.

POSITION

:

DIRECTOR

DATE OF APPT

:

14/10/2004

NATIONALITY

:

CHINESE

I/C PASSPORT

:

P00159900

 

NAME

:

WANG LI HUA

ADDRESS

:

NO. 27, CHENGFANG STREET, XICHENG DISTRICT, BEIJING 100033, CHINA.

POSITION

:

DIRECTOR

DATE OF APPT

:

14/10/2004

NATIONALITY

:

CHINESE

I/C PASSPORT

:

S90354513

KEY PERSONNEL PROFILE

 

Name:

XIA HONGWEI

NRIC Number:

G5621287L

Available Address:

29 AMBER ROAD #17-03 SEA VIEW, THE  SINGAPORE 439942

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CHINAOIL (SINGAPORE) INT'L PTE LTD

DIRECTOR

01/11/2001

-

NA

2

CHINAOIL (SINGAPORE) INT'L PTE LTD

MANAGING DIRECTOR

01/11/2001

-

NA

3

CHINAOIL (SINGAPORE) INT'L PTE LTD

SECRETARY

13/01/2011

-

NA

4

CV SHIPPING PTE. LTD.

DIRECTOR

22/01/2008

-

NA

5

PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.

DIRECTOR

14/10/2004

-

NA

6

PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.

SECRETARY

18/01/2005

-

NA

7

SINGAPORE PETROLEUM COMPANY LIMITED

DIRECTOR

22/10/2009

-

NA

8

SINGAPORE PETROLEUM COMPANY LIMITED

MANAGING DIRECTOR

01/07/2011

-

NA

9

SINGAPORE REFINING COMPANY PRIVATE LIMITED

DIRECTOR

23/10/2009

-

NA

10

UNIVERSAL TERMINAL (S) PTE. LTD.

DIRECTOR

20/01/2006

-

NA

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

CNPC (SINGAPORE) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

01/11/2001

-

2

CNPC (SINGAPORE) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

01/11/2001

-

 

 

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 (%)

 

SINGAPORE PETROLEUM COMPANY LIMITED

100

CV SHIPPING PTE. LTD.

50

UNIVERSAL TERMINAL (S) PTE. LTD.

35

 

                                                                                                                       

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

:

31/07/2012

Date of Last AR

:

29/08/2012

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

Group

 

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

38,735,671,876

27.99

30,265,562,008

19,218,469,744

14,964,835,235

7,683,326,659

Profit/(Loss) Before Tax

537,898,808

-0.25

539,236,649

239,784,091

1,846,942

142,404,519

Profit After Tax attributable to Shareholders

480,316,338

4.80

458,300,600

237,217,237

8,556,158

133,343,005

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

8,960,227,000

1.90

8,793,464,506

8,930,110,479

2,096,348,167

2,107,838,117

Current Assets

5,783,054,662

-1.42

5,866,556,571

6,257,706,339

1,992,820,946

2,021,481,283

Non Current Assets

3,177,172,338

8.55

2,926,907,935

2,672,404,140

103,527,221

86,356,834

 

 

 

 

 

 

 

Total Liabilities

6,990,233,865

-2.36

7,159,346,633

7,552,847,465

1,952,599,283

1,963,864,702

Current Liabilities

5,987,322,655

-2.60

6,147,041,164

6,490,469,413

1,952,599,283

1,963,864,702

Non Current Liabilities

1,002,911,210

-0.93

1,012,305,469

1,062,378,052

0

0

 

 

 

 

 

 

 

Shareholders' Funds

1,969,993,133

20.55

1,634,117,871

1,377,263,013

143,748,885

143,973,415

Share Capital

759,547,250

-7.74

823,253,750

880,355,465

7,054,875

7,513,085

Total Reserves

1,210,445,883

49.28

810,864,121

496,907,548

136,694,010

136,460,330

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

27.99

57.48

28.42

94.77

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.24

1.51

1.23

0.06

1.74

Return on Equity (%)

24.38

28.05

17.22

5.95

92.62

Return on Assets (%)

5.36

5.21

2.66

0.41

6.33

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.55

4.38

5.48

13.58

13.64

Current Debt/Equity (Times)

3.04

3.76

4.71

13.58

13.64

Long Term Debt To Equity (Times)

0.51

0.62

0.77

NA

NA

Total Asset To Total Equity (Times)

4.55

5.38

6.48

14.58

14.64

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.32

3.44

2.15

7.14

3.65

Fixed Assets Turnover (Times)

12.19

10.34

7.19

144.55

88.97

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.97

0.95

0.96

1.02

1.03

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 49.84% (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 group yielded a rate of net profit on sales of 1.24 per cent in FY11 (FY10: 1.51 per cent). The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.02 a year ago.

 

 

Liquidity

 

Current ratio stood at 0.97 times in FY11 (FY10: 0.95 times). This means that the group has SGD - SIN 0.97 of current assets for every SGD - SIN of current liability incurred.

 

 

FINANCIAL COMMENTARY

 

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 3.55 times in FY11, as compared with 4.38 times in FY10. This means that the group requires additional external financing of SGD - SIN 3.55 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 24.38 per cent for Subject in the current financial period, as compared to 28.05 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 5.36 per cent (FY10: 5.21 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

 

FINANCIAL COMMENTARY

 

Total assets turnover ratio logged at 4.32 times in FY11 (FY10: 3.44 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.54.46

UK Pound

1

Rs.83.13

Euro

1

Rs.70.98

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.