MIRA
INFORM REPORT
|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
BUNGE AGRIBUSINESS SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
77 Robinson Road #28-00 Robinson 77 Singapore 068896 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.12.1997 |
|
|
|
|
Com. Reg. No.: |
199708376W |
|
|
|
|
Legal Form : |
Limited Private Company |
|
|
|
|
Line of Business : |
Commodity and futures brokers and dealers Providing agricultural commodity marketing services and trading in commodities |
|
|
|
|
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 – 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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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: |
|
BUNGE AGRIBUSINESS SINGAPORE PTE LTD |
199708376W |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
11/12/1997 |
77 ROBINSON ROAD #28-00 ROBINSON 77 SINGAPORE 068896 |
6227 0090 |
|
Age of Company: |
Website: |
Industry Type: |
|
16 |
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): |
|
|
Industry DTC |
|
|
|
24 |
||
|
Directors |
|
Corporate Structure |
||
|
Number of Current Directors |
4 |
Holding Company: |
BUNGE LIMITED |
|
|
Number that are shareholders |
1 |
No. of Subsidiaries & Associated Companies: |
1 |
|
EXECUTIVE
SUMMARY
SHAREHOLDER DETAILS
|
: |
BUNGE LIMITED |
|
|
SHAREHOLDER ID |
: |
S97UF0023D |
|
NATIONALITY |
: |
BERMUDA |
|
ADDRESS |
: |
CLARENDON HSE CHURCH ST HAMILTON BERMUDA |
|
NO. OF ORD SHARES |
: |
1,000,000 510,285,073 |
|
% OF SHAREHOLDING |
: |
0.2% 99.8% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS UNITED STATES OF AMERICA, DOLLARS |
OFFICER DETAILS
|
: |
FRANS
HENDRIK JOHAN MARIE MOL |
|
|
ADDRESS |
: |
3
EVERTON ROAD SINGAPORE 089360 |
|
POSITION |
: |
DIRECTOR SECRETARY |
|
DATE OF APPT |
: |
31/08/2010 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 |
: |
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
|
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 |
% |
|
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 |
|
BUNGE INDO-CHINA HOLDINGS PTE.
LTD. |
LIVE COMPANY |
SHAREHOLDER |
- |
04/02/2013 |
Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
|
|
|
|
|
Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
|
|
|
|
|
|
|
SUBSIDIARIES AND ASSOCIATE COMPANIES
|
Company |
Shareholdings (%) |
|
|
|
|
89.99 |
|
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 |
: |
|
|
Date of Last AR |
: |
06/09/2012 |
|
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 |
||||||
|
|
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 |
|
|
|
|
|
|
|
20,142,409,678 |
29.82 |
15,515,942,902 |
12,175,710,124 |
14,279,372,197 |
9,388,817,457 |
|
|
Profit/(Loss) Before Tax |
(109,624,418) |
NA |
(66,720,548) |
13,235,463 |
57,975,460 |
14,565,872 |
|
Profit After Tax attributable to
Shareholders |
(105,163,956) |
NA |
(65,925,688) |
14,615,156 |
54,819,402 |
13,637,889 |
|
|
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
|
|
Total Assets |
1,796,930,053 |
23.19 |
1,458,661,794 |
796,390,677 |
823,041,424 |
917,635,679 |
|
Current Assets |
1,422,038,916 |
3.27 |
1,377,061,997 |
744,308,290 |
809,025,145 |
916,352,502 |
|
Non Current Assets |
374,891,137 |
359.43 |
81,599,797 |
52,082,387 |
14,016,279 |
1,283,177 |
|
|
|
|
|
|
|
|
|
Total Liabilities |
1,461,512,912 |
5.92 |
1,379,847,524 |
659,073,003 |
737,460,261 |
893,290,615 |
|
Current Liabilities |
1,421,621,897 |
3.03 |
1,379,847,524 |
659,073,003 |
737,460,261 |
893,290,615 |
|
Non Current Liabilities |
39,891,015 |
NA |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
335,417,142 |
325.58 |
78,814,271 |
137,317,674 |
85,581,163 |
24,345,064 |
|
Share Capital |
420,402,588 |
638.28 |
56,943,304 |
43,431,353 |
8,715,591 |
867,009 |
|
Total Reserves |
(84,985,446) |
NA |
21,870,967 |
93,886,321 |
76,865,572 |
23,478,055 |
FINANCIAL RATIOS
|
|
|||||
|
|
DEC
2011 |
DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
|
Growth % |
|
|
|
|
|
|
29.82 |
27.43 |
-14.73 |
52.09 |
NA |
|
|
|
|
|
|
|
|
|
Profitability |
|
|
|
|
|
|
Profit Margin (%) |
-0.52 |
-0.42 |
0.12 |
0.38 |
0.15 |
|
Return on Equity (%) |
-31.35 |
-83.65 |
10.64 |
64.06 |
56.02 |
|
Return on Assets (%) |
-5.85 |
-4.52 |
1.84 |
6.66 |
1.49 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
4.36 |
17.51 |
4.80 |
8.62 |
36.69 |
|
Current Debt/Equity (Times) |
4.24 |
17.51 |
4.80 |
8.62 |
36.69 |
|
Long Term Debt To Equity (Times) |
0.12 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
5.36 |
18.51 |
5.80 |
9.62 |
37.69 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
11.21 |
10.64 |
15.29 |
17.35 |
10.23 |
|
Fixed Assets Turnover (Times) |
53.73 |
190.15 |
233.78 |
1,018.77 |
7,316.85 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
1.00 |
1.00 |
1.13 |
1.10 |
1.03 |
FINANCIAL COMMENTARY
Compound Annual Growth Rate
The company's CAGR is 21.03% (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 1.00 times in FY11
(FY10: 1.00 times). This means that the company has SGD - SIN 1.00 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 4.36 times in FY11, as compared with 17.51 times in FY10. This means
that the company requires additional external financing of SGD - SIN 4.36 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
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 11.21 times in FY11 (FY10: 10.64
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.
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
UK Pound |
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.