MIRA INFORM REPORT

Report Date :

17.08.2013

IDENTIFICATION DETAILS

Name :	AGROCORP INTERNATIONAL PTE LTD
Registered Office :	10 Anson Road #34-04-06 International Plaza Singapore 079903
Country :	Singapore
Financials (as on) :	March 2012 (Group)
Date of Incorporation :	27.10.1990
Com. Reg. No.:	199005306n
Legal Form :	Limited Exempt Private Company
Line of Business :	· General wholesale trade (including general importers and exporters) · Commodity and futures brokers and dealers
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 – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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:
AGROCORP INTERNATIONAL PTE LTD	199005306N

Date Incorporated:	Registered Office:	Telephone Number:
27/10/1990	10 ANSON ROAD #34-04-06 INTERNATIONAL PLAZA SINGAPORE 079903	6534 4878
Age of Company:	Website:	Industry Type:
23	www.agrocorp.com.sg	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		8
1
Payment pattern as per previous month		No. of Charges(s): 35
Industry DTC
36

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

EXECUTIVE SUMMARY

Company Name	:	AGROCORP INTERNATIONAL PTE LTD
Registration No	:	199005306N
Date of Registration	:	27/10/1990
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED EXEMPT PRIVATE COMPANY
Registered Address	:	10 ANSON ROAD #34-04-06 INTERNATIONAL PLAZA SINGAPORE 079903
Date of Change of Address	:	13/03/2009
Contact No.	:	6534 4878
Fax No.	:	6534 4689
Website	:	www.agrocorp.com.sg
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. COMMODITY AND FUTURES BROKERS AND DEALERS
Issued Ordinary Capital*	:	$4,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 4,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$4,000,000.00 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	:	1
No. of Local Associates	:	NA
Auditor	:	BAKER TILLY TFW LLP
Bankers / Financiers	:	SOCIETE GENERALE BNP PARIBAS (SUISSE) SA CITIBANK N.A. THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED INDIAN BANK RAIFFEISEN BANK INTERNATIONAL AG KBC BANK N.V. STANDARD CHARTERED BANK AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED OVERSEA-CHINESE BANKING CORPORATION LIMITED BNP PARIBAS DBS BANK LTD. COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND") UCO BANK RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT NATIXIS
Turnover	:	SGD - SIN 1,560,312,218.00 (FY2012)
Net Worth	:	SGD - SIN 44,814,142.00 (FY2012)
No. of Bank Charges	:	35
No. of Litigation Suits	:	8
S1000 / SME 1000 / FG50 Ranking	:	276 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012) 210 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 205 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 226 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009) 901 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	IYENGAR VIJAYKUMAR GOPALAN
SHAREHOLDER ID	:	S2592639J
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	65 CORONATION ROAD SINGAPORE 269464
NO. OF ORD SHARES	:	2,742,857
% OF SHAREHOLDING	:	68.6%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	RAGHAVAN RAVI
SHAREHOLDER ID	:	S2656911G
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	99 MEYER ROAD #26-01 SOVEREIGN, THE SINGAPORE 437920
NO. OF ORD SHARES	:	994,286
% OF SHAREHOLDING	:	24.9%
CURRENCY	:	SINGAPORE, DOLLARS
NAME	:	AKILA VIJAY IYENGAR
SHAREHOLDER ID	:	S2592640D
NATIONALITY	:	SINGAPORE P.R.
ADDRESS	:	65 CORONATION ROAD SINGAPORE 269464
NO. OF ORD SHARES	:	262,857
% OF SHAREHOLDING	:	6.6%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	IYENGAR VIJAYKUMAR GOPALAN
ADDRESS	:	65 CORONATION ROAD SINGAPORE 269464
POSITION	:	DIRECTOR
DATE OF APPT	:	16/11/1990
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2592639J
NAME	:	AKILA VIJAY IYENGAR
ADDRESS	:	65 CORONATION ROAD SINGAPORE 269464
POSITION	:	DIRECTOR
DATE OF APPT	:	17/07/1997
NATIONALITY	:	SINGAPORE P.R.
I/C PASSPORT	:	S2592640D
NAME	:	RAGHAVAN RAVI
ADDRESS	:	99 MEYER ROAD #26-01 SOVEREIGN, THE SINGAPORE 437920
POSITION	:	DIRECTOR
DATE OF APPT	:	27/04/1994
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2656911G
NAME	:	NG SIEW ENG @ HUANG XIUYING
ADDRESS	:	667C JURONG WEST STREET 65 #16-139 SINGAPORE 643667
POSITION	:	SECRETARY
DATE OF APPT	:	05/01/2012
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S7818021H

KEY PERSONNEL PROFILE

Name:	IYENGAR VIJAYKUMAR GOPALAN
NRIC Number:	S2592639J
Available Address:	65 CORONATION ROAD SINGAPORE 269464

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	AAVISHKAAR INTERNATIONAL LIMITED	SHAREHOLDER	-	10000	0.50
2	AGROCORP INTERNATIONAL PTE LTD	DIRECTOR	16/11/1990	2742857	68.57
3	AMBIT SINGAPORE PTE. LTD.	DIRECTOR	09/10/2006	-	NA
4	ASIAN MEDIA EDUCATION CENTRE PTE. LTD.	DIRECTOR	27/01/2005	2	50.00
5	ASIAN MEDIA EDUCATION CENTRE PTE. LTD.	SECRETARY	27/01/2005	-	NA
6	ASIAN MEDIA EDUCATION CENTRE PTE. LTD.	SHAREHOLDER	-	-	NA
7	COMPASS POINT TOURS PTE. LTD.	SECRETARY	04/09/2006	-	NA
8	COMPASS POINT TOURS PTE. LTD.	DIRECTOR	04/03/2006	2	25.00
9	COMPASS POINT TOURS PTE. LTD.	SHAREHOLDER	-	-	NA
10	ELITE TRADING & INVESTMENT PTE. LTD.	DIRECTOR	21/12/2012	1	12.50
11	FINANCIAL TECHNOLOGIES SINGAPORE PTE. LTD.	DIRECTOR	15/04/2009	-	NA
12	INDIA INTERNATIONAL INSURANCE PTE LTD	DIRECTOR	24/08/2009	-	NA
13	INDIASE MEDIA PTE. LTD.	ALTERNATE DIRECTOR	02/09/2010	-	NA
14	MGM IMPEX PTE. LTD.	DIRECTOR	12/01/2010	12500	12.50
15	PARAMESWARA HOLDINGS LTD	DIRECTOR	10/06/2004	-	NA
16	RAMCO SYSTEMS PTE. LTD.	DIRECTOR	17/10/1995	-	NA
17	SHALIGRAM HOLDINGS PTE. LTD.	DIRECTOR	24/06/2011	68	68.00
18	SHALIGRAM HOLDINGS PTE. LTD.	SHAREHOLDER	-	-	NA
19	SINGAPORE MERCANTILE EXCHANGE CLEARING CORPORATION PTE. LTD.	DIRECTOR	03/07/2007	-	NA
20	SINGAPORE MERCANTILE EXCHANGE PTE. LTD.	DIRECTOR	11/01/2007	-	NA
21	SRI KOWSHIKI INTERNATIONAL PTE LTD	SECRETARY	14/07/2004	-	NA
22	SRI KOWSHIKI INTERNATIONAL PTE LTD	DIRECTOR	30/12/1991	-	NA
23	ZEALCITY STUDIOS PTE. LTD.	DIRECTOR	01/06/2011	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	BLISSMORE HOLDINGS PTE. LTD.	LIVE COMPANY	DIRECTOR	26/01/2001	07/08/2003
2	COUNTERCORP LIMITED	DISSOLVED (FOREIGN CO)	AGENT	30/10/1986	03/12/2007
3	COUNTERCORP TRADING PTE LTD	LIVE COMPANY	DIRECTOR	01/06/1988	16/08/1994
4	EDC@SICCI PTE. LTD.	LIVE COMPANY	DIRECTOR	01/09/2007	04/08/2010
5	INTRA BUSINESS PTE LTD	LIVE COMPANY	SHAREHOLDER	-	15/04/2013
6	PROTON SHIPPING AND TRADING PTE LTD	STRUCK OFF	DIRECTOR	27/03/1997	17/07/1997
7	PROTON SHIPPING AND TRADING PTE LTD	STRUCK OFF	SHAREHOLDER	-	-
8	RAMCO SYSTEMS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	15/01/2013
9	ROADWAVES WIRELESS TECHNOLOGIES PTE. LTD.	STRUCK OFF	DIRECTOR	20/10/2005	05/09/2009
10	ROADWAVES WIRELESS TECHNOLOGIES PTE. LTD.	STRUCK OFF	SHAREHOLDER	-	-
11	SICCI TRADE MATCH INFORMATION NETWORK (S) PTE. LTD.	LIVE COMPANY	DIRECTOR	01/10/2004	04/08/2010
12	SINGAPORE INDIAN CHAMBER OF COMMERCE & INDUSTRY	LIVE COMPANY	DIRECTOR	16/04/2004	27/03/2013
13	TRANSAGRO SHIPPING PTE. LTD.	IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	04/09/2002	01/10/2012
14	TRANSAGRO SHIPPING PTE. LTD.	IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	-

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 (%)
INTRA BUSINESS PTE LTD	100

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 35 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201210856
	Date of Registration	:	24/09/2012
	Chargee	:	SOCIETE GENERALE
	Amount Secured and Currency	:	All Monies
	Address	:	80 ROBINSON ROAD #26-00 SINGAPORE 068898
2)	Charge No.	:	C201210855
	Date of Registration	:	24/09/2012
	Chargee	:	SOCIETE GENERALE
	Amount Secured and Currency	:	All Monies
	Address	:	80 ROBINSON ROAD #26-00 SINGAPORE 068898
3)	Charge No.	:	C201208392
	Date of Registration	:	26/07/2012
	Chargee	:	BNP PARIBAS (SUISSE) SA
	Amount Secured and Currency	:	All Monies
	Address	:	---
4)	Charge No.	:	C201204736
	Date of Registration	:	30/04/2012
	Chargee	:	CITIBANK N.A.
	Amount Secured and Currency	:	All Monies
	Address	:	3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190
5)	Charge No.	:	C201201346
	Date of Registration	:	03/02/2012
	Chargee	:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320
6)	Charge No.	:	C201200779
	Date of Registration	:	17/01/2012
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
7)	Charge No.	:	C201105608
	Date of Registration	:	10/05/2011
	Chargee	:	RAIFFEISEN BANK INTERNATIONAL AG
	Amount Secured and Currency	:	All Monies
	Address	:	---
8)	Charge No.	:	C201104043
	Date of Registration	:	01/04/2011
	Chargee	:	KBC BANK N.V.
	Amount Secured and Currency	:	All Monies
	Address	:	30 CECIL STREET #12-01 PRUDENTIAL TOWER SINGAPORE 049712
9)	Charge No.	:	C201103374
	Date of Registration	:	18/03/2011
	Chargee	:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320
10)	Charge No.	:	C201012446
	Date of Registration	:	22/12/2010
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
11)	Charge No.	:	C201011510
	Date of Registration	:	29/11/2010
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909
12)	Charge No.	:	C201011235
	Date of Registration	:	24/11/2010
	Chargee	:	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	---
13)	Charge No.	:	C201009476
	Date of Registration	:	14/10/2010
	Chargee	:	OVERSEA-CHINESE BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513
14)	Charge No.	:	C201007105
	Date of Registration	:	13/08/2010
	Chargee	:	BNP PARIBAS
	Amount Secured and Currency	:	All Monies
	Address	:	20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319
15)	Charge No.	:	C201004380
	Date of Registration	:	26/05/2010
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
16)	Charge No.	:	C200906871
	Date of Registration	:	27/10/2009
	Chargee	:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320
17)	Charge No.	:	C200903223
	Date of Registration	:	01/06/2009
	Chargee	:	COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")
	Amount Secured and Currency	:	All Monies
	Address	:	---
18)	Charge No.	:	C200900106
	Date of Registration	:	05/01/2009
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909
19)	Charge No.	:	C200900104
	Date of Registration	:	05/01/2009
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909
20)	Charge No.	:	C200710964
	Date of Registration	:	12/12/2007
	Chargee	:	UCO BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE #01-01 BHARAT BUILDING SINGAPORE 048617
21)	Charge No.	:	C200600370
	Date of Registration	:	16/01/2006
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
22)	Charge No.	:	C200600369
	Date of Registration	:	16/01/2006
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
23)	Charge No.	:	C200503701
	Date of Registration	:	29/06/2005
	Chargee	:	RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT
	Amount Secured and Currency	:	All Monies
	Address	:	1 RAFFLES QUAY #38-01 ONE RAFFLES QUAY, NORTH TOWER SINGAPORE 048583
24)	Charge No.	:	C200401678
	Date of Registration	:	01/04/2004
	Chargee	:	NATIXIS
	Amount Secured and Currency	:	All Monies
	Address	:	50 RAFFLES PLACE #41-01 SINGAPORE LAND TOWER SINGAPORE 048623
25)	Charge No.	:	C200400603
	Date of Registration	:	04/02/2004
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909
26)	Charge No.	:	9607483
	Date of Registration	:	12/12/1996
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	330,000.00 SINGAPORE, DOLLARS
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
27)	Charge No.	:	9607483
	Date of Registration	:	12/12/1996
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
28)	Charge No.	:	9605976
	Date of Registration	:	01/10/1996
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	120,946.09 UNITED STATES OF AMERICA, DOLLARS
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
29)	Charge No.	:	9605976
	Date of Registration	:	01/10/1996
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
30)	Charge No.	:	200101478
	Date of Registration	:	30/03/2001
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
31)	Charge No.	:	199900770
	Date of Registration	:	05/03/1999
	Chargee	:	COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")
	Amount Secured and Currency	:	All Monies
	Address	:	---
32)	Charge No.	:	199800698
	Date of Registration	:	07/02/1998
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	85,000.00 UNITED STATES OF AMERICA, DOLLARS
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
33)	Charge No.	:	199800698
	Date of Registration	:	07/02/1998
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
34)	Charge No.	:	199800318
	Date of Registration	:	16/01/1998
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	80,000.00 UNITED STATES OF AMERICA, DOLLARS
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617
35)	Charge No.	:	199800318
	Date of Registration	:	16/01/1998
	Chargee	:	INDIAN BANK
	Amount Secured and Currency	:	All Monies
	Address	:	3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

LITIGATION

there have been 8 litigation suits filed against Subject.

	Current Year On/After 01 Jan 2013	Past Years Bef 01 Jan 2013
Court (Claim under normal circumstances)
Magistrate (< $80,000)	0	1
District ($80,000 - $250,000)	0	2
High (>$250,000)	0	5
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	Supreme Court
	Case No.	:	346
	Transfer	:	-
	Date of Filing	:	13/05/2010
	Amount	:	300,050.00
	Cause	:	Contract - Others
	Case Status	:	CONCLUDED
	Plaintiff	:	SWEE CHOON COMPANY PRIVATE LIMITED
	Last Update Date	:	08/12/2010
2)	Court	:	Magistrate Court
	Case No.	:	18822
	Transfer	:	-
	Date of Filing	:	04/08/2006
	Amount	:	6,365.52
	Cause	:	Others / Miscellaneous
	Case Status	:	DEEMED DISCONTINUED
	Plaintiff	:	INTER-PREMIUM GROUP SERVICES PTE LTD
	Last Update Date	:	08/12/2010
3)	Court	:	Supreme Court
	Case No.	:	423
	Transfer	:	-
	Date of Filing	:	09/04/2001
	Amount	:	225,000.00
	Cause	:	TORT-GENERAL
	Case Status	:	CONCLUDED
	Plaintiff	:	AL-NOOR SUGAR MILLS LTD
	Last Update Date	:	25/10/2002
4)	Court	:	District Court
	Case No.	:	159
	Transfer	:	-
	Date of Filing	:	11/01/1999
	Amount	:	30,363.13
	Cause	:	Contracts - General
	Case Status	:	DEEMED DISCONTINUED
	Plaintiff	:	BAKRIE NUSANTARA INTERNATIONAL PTE LTD
	Last Update Date	:	13/01/2009
5)	Court	:	Supreme Court
	Case No.	:	1841
	Transfer	:	-
	Date of Filing	:	15/10/1997
	Amount	:	698,000.00
	Cause	:	CONTRACTS-GENERAL
	Case Status	:	CONCLUDED
	Plaintiff	:	KARIM'S INTERNATIONAL
	Last Update Date	:	25/10/2002
6)	Court	:	Supreme Court
	Case No.	:	2479
	Transfer	:	-
	Date of Filing	:	21/12/1996
	Amount	:	109,208.00
	Cause	:	Declaration
	Case Status	:	CONCLUDED
	Plaintiff	:	NORECOM GMBH
	Last Update Date	:	13/01/2009
7)	Court	:	District Court
	Case No.	:	5259
	Transfer	:	-
	Date of Filing	:	29/12/1995
	Amount	:	49,805.70
	Cause	:	CONTRACTS-SALE OF GOODS
	Case Status	:	CONCLUDED
	Plaintiff	:	MELLOW TRADING
	Last Update Date	:	13/05/2003
8)	Court	:	Supreme Court
	Case No.	:	558
	Transfer	:	-
	Date of Filing	:	01/04/1995
	Amount	:	102,000.00
	Cause	:	Monetary Claim
	Case Status	:	CONCLUDED
	Plaintiff	:	VENUS TRADING CO LTD
	Last Update Date	:	15/07/2005

COMPLIANCE

Date of Last AGM	:	29/09/2012
Date of Last AR	:	29/10/2012
Date of A/C Laid At Last AGM	:	31/03/2012

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
	MAR 2012	% Change	MAR 2011
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	1,560,312,218	-12.67	1,786,606,909
Profit/(Loss) Before Tax	(4,730,777)	NA	21,784,493
Profit After Tax attributable to Shareholders	(4,421,499)	NA	19,175,781
Balance Sheet Key Figures
Total Assets	175,419,927	-29.21	247,813,089
Current Assets	163,531,088	-31.72	239,495,727
Non Current Assets	11,888,839	42.94	8,317,362
Total Liabilities	130,605,785	-34.33	198,870,457
Current Liabilities	127,761,508	-34.73	195,733,950
Non Current Liabilities	2,844,277	-9.32	3,136,507
Shareholders' Funds	44,814,142	-8.44	48,942,634
Share Capital	3,208,535	-5.80	3,406,023
Total Reserves	41,605,607	-8.63	45,536,611

FINANCIAL RATIOS

	Group
	MAR 2012	MAR 2011
Growth %
Year-on-Year Growth	-12.67	NA
Profitability
Profit Margin (%)	NA	1.07
Return on Equity (%)	NA	39.18
Return on Assets (%)	NA	7.74
Leverage
Total Debt/Equity (Times)	2.91	4.06
Current Debt/Equity (Times)	2.85	4.00
Long Term Debt To Equity (Times)	0.06	0.06
Total Asset To Total Equity (Times)	3.91	5.06
Asset Management
Total Assets Turnover (Times)	8.89	7.21
Fixed Assets Turnover (Times)	131.24	214.80
Liquidity
Current Ratio (Times)	1.28	1.22

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability as Subject is making losses for the financial year in review.

Liquidity

Current ratio stood at 1.28 times in FY12. This means that the group has SGD - SIN 1.28 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 2.91 times in FY12. This means that the group requires additional external financing of SGD - SIN 2.91 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 8.89 times in FY12. 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.61.82
UK Pound	1	Rs.93.57
Euro	1	Rs.82.45

INFORMATION DETAILS

Report Prepared by :

SDA

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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