MIRA INFORM REPORT

 

 

Report Date :

01.02.2013

 

IDENTIFICATION DETAILS

 

Name :

AAA OILS & FATS PTE. LTD.

 

 

Formerly Known As :

ASIAMAS TRADING & MARKETING PTE. LTD.

 

 

Registered Office :

80 Raffles Place #50-01 Uob Plaza Singapore 048624

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

04.03.2002

 

 

Com. Reg. No.:

200201667C

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Commodity and Futures Brokers and Dealers

Trading in Edible Oils & Soft Commodities

 

 

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:

AAA OILS & FATS PTE. LTD.

200201667C

 

Date Incorporated:

Registered Office:

Telephone Number:

04/03/2002

80 RAFFLES PLACE #50-01 UOB PLAZA SINGAPORE 048624

6216 9338

Age of Company:

Website:

Industry Type:

10

NA

COMMERCE-WHOLESALE

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

NA

 

NA

blank

 

The entity is paying current to the creditors

No. of Charges(s):
14

 

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

TALENT INVESTMENTS LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

2

 

EXECUTIVE SUMMARY

 

Company Name

:

AAA OILS & FATS PTE. LTD.

Registration No

:

200201667C

Date of Registration

:

04/03/2002

Former Name

:

ASIAMAS TRADING & MARKETING PTE. LTD. Eff. date : 04/03/2002 Eff. date : 04/03/2002

Date of Change of Name

:

08/07/2003

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

80 RAFFLES PLACE #50-01 UOB PLAZA SINGAPORE 048624

Operating Address

 

800 Beach Road #16-01 Gateway West Singapore 189730, Singapore

Date of Change of Address

:

01/06/2003

Contact No.

:

6216 9338

Fax No.

:

6222 7006

Website

:

NA

Registered Activities

:

1. COMMODITY AND FUTURES BROKERS AND DEALERS

TRADING IN EDIBLE OILS & SOFT COMMODITIES

2. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$3,034,300.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,034,300

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,034,300.00 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

:

2

No. of Local Associates

:

NA

Auditor

:

KPMG LLP

Bankers / Financiers

:

ABN AMRO BANK N.V.

WESTLB AG, SINGAPORE BRANCH

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

BANCO SANTANDER, S.A., HONG KONG BRANCH

DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN (FORMERLY GZ-BANK AG)

RAIFFEISEN BANK INTERNATIONAL AG

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. SINGAPORE BRANCH

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

Turnover

:

SGD - SIN 3,813,202,410.00 (FY2011)

Net Worth

:

SGD - SIN 75,186,942.00 (FY2011)

No. of Bank Charges

:

14

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

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

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

312 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

194.18% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

TALENT INVESTMENTS LIMITED

SHAREHOLDER ID

:

T03UF2074H

NATIONALITY

:

VIRGIN ISLANDS, BRITISH

ADDRESS

:

PO BOX 3444 ROAD TOWN TORTOLA BRITISH VIRGIN ISLANDS

NO. OF ORD SHARES

:

3,034,300

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

ALLAN YONG HENG CHONG

ADDRESS

:

20 TOH AVENUE SINGAPORE 508046

POSITION

:

DIRECTOR

DATE OF APPT

:

21/12/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0028490D

 

NAME

:

KWAN KIM KONG

ADDRESS

:

22 JALAN MEMBINA #05-60 SINGAPORE 166022

POSITION

:

DIRECTOR

DATE OF APPT

:

25/08/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2759729G

 

NAME

:

PUA EE HUANG

ADDRESS

:

226 WESTWOOD AVENUE #08-20 FLORAVALE, THE SINGAPORE 648357

POSITION

:

SECRETARY

 

DATE OF APPT

:

01/12/2008

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7046110B

 

NAME

:

CHEW CHONG PAN

ADDRESS

:

440 HOUGANG AVENUE 8 #04-1573 SINGAPORE 530440

POSITION

:

DIRECTOR

DATE OF APPT

:

01/12/2008

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7067332J

 

KEY PERSONNEL PROFILE

 

Name:

CHEW CHONG PAN

NRIC Number:

S7067332J

Available Address:

440 HOUGANG AVENUE 8 #04-1573  SINGAPORE 530440

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

AAA OILS & FATS PTE. LTD.

DIRECTOR

01/12/2008

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ASIAN AGRI MANAGEMENT PTE. LTD.

STRUCK OFF

DIRECTOR

01/12/2008

-

 

 

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 (%)

 

APICAL SUMATERA MANAGEMENT PTE. LTD.

100

APICAL CHINA MANAGEMENT PTE. LTD.

100

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 14 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201208901

 

Date of Registration

:

06/08/2012

 

Chargee

:

ABN AMRO BANK N.V.

 

Amount Secured  and Currency

:

350,000,000.00 U.S. DOLLAR

 

Address

:

LEVEL 26 ONE RAFFLES QUAY SOUTH TOWER SINGAPORE 048583

 

2)

Charge No.

:

C201201926

 

Date of Registration

:

20/02/2012

 

Chargee

:

WESTLB AG, SINGAPORE BRANCH

 

Amount Secured  and Currency

:

350,000,000.00 U.S. DOLLAR

 

Address

:

---

 

3)

Charge No.

:

C201116080

 

Date of Registration

:

21/12/2011

 

Chargee

:

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 RAFFLES QUAY #12-01 SINGAPORE 048580

 

4)

Charge No.

:

C201113972

 

Date of Registration

:

03/11/2011

 

Chargee

:

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 RAFFLES QUAY #12-01 SINGAPORE 048580

 

5)

Charge No.

:

C201113164

 

Date of Registration

:

19/10/2011

 

Chargee

:

WESTLB AG, SINGAPORE BRANCH

 

Amount Secured  and Currency

:

350,000,000.00 U.S. DOLLAR

 

Address

:

---

 

6)

Charge No.

:

C201113156

 

Date of Registration

:

19/10/2011

 

Chargee

:

WESTLB AG, SINGAPORE BRANCH

 

Amount Secured  and Currency

:

350,000,000.00 U.S. DOLLAR

 

Address

:

---

 

7)

Charge No.

:

C201113154

 

Date of Registration

:

19/10/2011

 

Chargee

:

WESTLB AG, SINGAPORE BRANCH

 

Amount Secured  and Currency

:

350,000,000.00 U.S. DOLLAR

 

Address

:

---

 

8)

Charge No.

:

C201109920

 

Date of Registration

:

11/08/2011

 

Chargee

:

BANCO SANTANDER, S.A., HONG KONG BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

9)

Charge No.

:

C201108121

 

Date of Registration

:

05/07/2011

 

Chargee

:

ABN AMRO BANK N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

LEVEL 26 ONE RAFFLES QUAY SOUTH TOWER SINGAPORE 048583

 

10)

Charge No.

:

C201100810

 

Date of Registration

:

18/01/2011

 

Chargee

:

DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN (FORMERLY GZ-BANK AG)

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

11)

Charge No.

:

C201011640

 

Date of Registration

:

01/12/2010

 

Chargee

:

RAIFFEISEN BANK INTERNATIONAL AG

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

12)

Charge No.

:

C201011637

 

Date of Registration

:

01/12/2010

 

Chargee

:

RAIFFEISEN BANK INTERNATIONAL AG

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

13)

Charge No.

:

C201001677

 

Date of Registration

:

24/02/2010

 

Chargee

:

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

14)

Charge No.

:

C200902213

 

Date of Registration

:

16/04/2009

 

Chargee

:

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

 

Amount Secured  and Currency

:

All Monies

 

Address

:

1 RAFFLES QUAY #38-01 ONE RAFFLES QUAY, NORTH TOWER SINGAPORE 048583

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

30/06/2012

Date of Last AR

:

30/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

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

3,813,202,410

44.27

2,643,083,427

1,321,386,909

79,520,099

50,915,490

Profit/(Loss) Before Tax

188,908,223

71.87

109,913,723

77,090,957

2,763,015

170,932

Profit After Tax attributable

 to Shareholders

179,169,289

71.79

104,293,701

73,544,149

2,704,886

170,932

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

516,613,123

62.85

317,232,771

223,642,155

12,881,010

7,986,247

Current Assets

515,484,200

62.73

316,765,649

223,608,910

12,851,153

7,980,938

Non Current Assets

1,128,923

141.68

467,122

33,245

29,857

5,309

 

 

 

 

 

 

 

Total Liabilities

441,426,180

51.65

291,079,026

176,240,009

12,752,024

10,729,450

Current Liabilities

397,485,430

72.19

230,838,623

176,240,009

12,752,024

7,531,986

Non Current Liabilities

43,940,750

-27.06

60,240,403

0

0

3,197,464

 

 

 

 

 

 

 

Shareholders' Funds

75,186,942

187.48

26,153,744

47,402,146

128,986

(2,743,203)

Share Capital

2,510,900

-7.74

2,721,500

2,910,266

80,124

85,328

Total Reserves

72,676,042

210.15

23,432,244

44,491,880

48,862

(2,828,531)

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

44.27

100.02

1,561.70

56.18

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.70

3.95

5.57

3.40

0.34

Return on Equity (%)

238.30

398.77

155.15

2,097.04

-6.23

Return on Assets (%)

34.68

32.88

32.88

21.00

2.14

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

5.87

11.13

3.72

98.86

-3.91

Current Debt/Equity (Times)

5.29

8.83

3.72

98.86

0.00

Long Term Debt To Equity (Times)

0.58

2.30

0.00

0.00

0.00

Total Asset To Total Equity (Times)

6.87

12.13

4.72

99.86

-2.91

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

7.38

8.33

5.91

6.17

6.38

Fixed Assets Turnover (Times)

3,377.73

5,658.23

39,746.94

2,663.37

9,590.41

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.30

1.37

1.27

1.01

1.06

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 194.18% (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 4.70 per cent in FY11 (FY10: 3.95 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.04 a year ago.

 

Liquidity

Current ratio stood at 1.30 times in FY11 (FY10: 1.37 times). This means that the company has SGD - SIN 1.30 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 5.87 times in FY11, compared with 11.13 times in FY10. This means that the company requires additional external financing of SGD - SIN 5.87 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 238.30 per cent for Subject in the current financial period, as compared to 398.77 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 34.68 per cent (FY10: 32.88 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 7.38 times in FY11 (FY10: 8.33 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.53.29

UK Pound

1

Rs.84.22

Euro

1

Rs.72.23

 

 

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.