MIRA INFORM REPORT

Report Date :

26.04.2013

IDENTIFICATION DETAILS

Name :	Castleton Commodities Merchant asia Co. Pte. Ltd.

Formerly Known As :	LDH ENERGY MERCHANT ASIA CO. PTE. LTD.

Registered Office :	163 Penang Road #02-03 Winsland House II 238463

Country :	Singapore

Financials (as on) :	31.12.2011

Date of Incorporation :	29.06.2011

Com. Reg. No.:	201115279D

Legal Form :	Limited Private Company

Line of Business :	Investing In Energy Services

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

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:
CASTLETON COMMODITIES MERCHANT ASIA CO. PTE. LTD.	201115279D

Date Incorporated:	Registered Office:	Telephone Number:
29/06/2011	163 PENANG ROAD #02-03 WINSLAND HOUSE II SINGAPORE 238463	NA
Age of Company:	Website:	Industry Type:
2	NA	HOLDINGS

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
23 Days

Directors		Corporate Structure
Number of Current Directors	4	Holding Company:	CCI ASIA HOLDINGS CO. PTE. LTD.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	Castleton Commodities Merchant Asia Co. Pte. Ltd.
Registration No	:	201115279D
Date of Registration	:	29/06/2011
Former Name	:	1. LDH ENERGY MERCHANT ASIA CO. PTE. LTD. (Eff. date : 29/06/2011)
Date of Change of Name	:	02/01/2013
Type of Company	:	Limited Private Company
Registered Address	:	163 PENANG ROAD #02-03 WINSLAND HOUSE II SINGAPORE 238463
Date of Change of Address	:	29/06/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	Other Investment Holding Companies Investing In Energy Services
Issued Ordinary Capital*	:	$10,950,185.00 UNITED STATES OF AMERICA, DOLLARS NO. OF SHARE : 10,950,185
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,950,185.00 UNITED STATES OF AMERICA, 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	:	$0.00 (FY2011)
Net Worth	:	$13,117,347.00 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000

SHAREHOLDER DETAILS

NAME	:	CCI ASIA HOLDINGS CO. PTE. LTD.
SHAREHOLDER ID	:	201115264R
NATIONALITY	:	SINGAPORE
ADDRESS	:	163 PENANG ROAD #02-03 WINSLAND HOUSE II SINGAPORE 238463
NO. OF ORD SHARES	:	10,950,185
% OF SHAREHOLDING	:	100%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS

OFFICER DETAILS

NAME	:	WILLIAM CHAPIN REED II
ADDRESS	:	68 WOODS END ROAD, NEW CANAAN CT 06840-4030, USA
POSITION	:	DIRECTOR
DATE OF APPT	:	29/08/2011
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	482129254

NAME	:	DAVID ALEXANDER WALLACE
ADDRESS	:	119 BEECHWOOD AVE, TRUMBULL CT 06611-1657, USA
POSITION	:	DIRECTOR
DATE OF APPT	:	29/06/2011
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	483727996

NAME	:	XIJIAN SUN
ADDRESS	:	1 RAFFLES PLACE #35-61 ONE RAFFLES PLACE SINGAPORE 048616
POSITION	:	DIRECTOR
DATE OF APPT	:	29/06/2011
NATIONALITY	:	CHINESE
I/C PASSPORT	:	G5218450P

NAME	:	ANDREW HUDSON
ADDRESS	:	90 WEST COAST ROAD #01-49 CLEMENTIWOODS CONDOMINIUM SINGAPORE 126810
POSITION	:	SECRETARY
DATE OF APPT	:	14/09/2012
NATIONALITY	:	BRITISH
I/C PASSPORT	:	G6066360U

NAME	:	EMMA LOUISE MCCONNELL
ADDRESS	:	172 SIXTH AVENUE #01-29 SIXTH AVENUE RESIDENCES, THE SINGAPORE 276545
POSITION	:	DIRECTOR
DATE OF APPT	:	15/05/2012
NATIONALITY	:	BRITISH
I/C PASSPORT	:	G6393239L

NAME	:	LOO BOON SAN
ADDRESS	:	207D COMPASSVALE LANE #13-42 COMPASSVALE CREST SINGAPORE 547207
POSITION	:	SECRETARY
DATE OF APPT	:	29/08/2011
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S7083674B

KEY PERSONNEL PROFILE

Name:	DAVID ALEXANDER WALLACE
NRIC Number:	483727996
Available Address:	119 BEECHWOOD AVE, TRUMBULL CT 06611-1657, USA

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	CASTLETON COMMODITIES MERCHANT ASIA CO. PTE. LTD.	DIRECTOR	29/06/2011	-	NA
2	CASTLETON COMMODITIES SHIPPING CO. PTE. LTD.	DIRECTOR	07/10/2011	-	NA
3	CCI ASIA HOLDINGS CO. PTE. LTD.	DIRECTOR	28/06/2011	-	NA
4	LDH ENERGY ASIA HOLDINGS II CO. PTE. LTD.	DIRECTOR	28/06/2011	-	NA
5	LDH ENERGY ASIA INVESTMENT HOLDINGS CO. PTE. LTD.	DIRECTOR	28/06/2011	-	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

Negative List (if any)

Source of information is from DP available database. For further details, please contact us.

Traces	Status	Last Updated Date
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	:	31/08/2012
Date of Last AR	:	19/10/2012
Date of A/C Laid at Last AGM	:	31/12/2011

COMPLIANCE RATING FOR ANNUAL FILING

	ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

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

Auditor’s Comments – True and Fair? Yes

	Company
FINANCIAL YEAR	29/06/2011 to 31/12/2011 $
Turnover	0
Profit Before Tax and Minority Interest	(622,792)
Profit After Tax and Minority Interest	(622,792)
ASSETS
Current Assets	14,529,037
Non-current Assets	0
- Fixed Assets	0
- Intangible Assets	0
- Long-term Investments	0
Total Assets	14,529,037
LIABILITIES
Current Liabilities	1,411,689
Long-Term Liabilities	0
Total Liabilities	1,411,689
SHAREHOLDERS’ FUNDS
Share Capital	13,740,139
Share Premium	0
Retained Earnings	(622,792)
Minority Interest	0
Other Reserves	0
Shareholders Funds	13,117,347

Financial figures are presented in USD - USA as reflected in Subject's financial statements and are converted to S$ at the rate of S$1.254786 per USD - USA in FYE11 as presented in this report.

FINANCIAL RATIOS

	Company
FINANCIAL YEAR END	29/06/2011 to 31/12/2011
PROFITABILITY
Rate of Net Profit (%)	NA
Return on Equity (%)	-4.75
Return on Assets (%)	-4.29
Return on Capital Employed	-0.05
DEBT MANAGEMENT
Total Liabilities/Equity (times)	0.11
Current Liabilities/Equity (times)	0.11
Long Term Liabilities/Equity (times)	0.00
Debt Service Cover Ratio	-461.70
Short-term Borrowings-to-cash Ratio	NA
EFFICIENCY MANAGEMENT
Total Assets Turnover (times)	0.00
Fixed Assets Turnover (times)	NA
Interest Coverage Ratio	-461.70
Average Payment Period (days)	NA
LIQUIDITY MANAGEMENT
Current Ratio (times)	10.29
Quick Ratio (times)	10.29
Average Collection Period (days)	NA

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability

Liquidity

Current ratio stood at 10.29 times in FY11. This means that the company has $10.29 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be higher than the industry norm for the sector in which the company is operating.

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 liabilities-to-equity ratio notched 0.11 times in FY11. This means that the company requires additional external financing of $0.11 for every dollar injected into its operations. Subject's total liability-to-equity is noted to be lower than the industry norm for the sector in which the company is operating.

Generally, a total liability-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.

We are unable to comment on Subject's total assets turnover ratio.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.17
UK Pound	1	Rs.82.99
Euro	1	Rs.70.62

INFORMATION DETAILS

Report Prepared by :

NIT

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.