MIRA INFORM REPORT

 

 

Report Date :

07.01.2013

 

IDENTIFICATION DETAILS

 

Name :

BAGADIYA BROTHERS (SINGAPORE) PTE. LTD.

 

 

Registered Office :

150 Cecil Street #14-01 Singapore 069543

 

 

Country :

Singapore

 

 

Financials (as on) :

March, 2012

 

 

Date of Incorporation :

25.04.2007

 

 

Com. Reg. No.:

200707085N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Chartering of Ships, Barges And Boats With Crew (Freight)

 

 

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 – 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 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:

BAGADIYA BROTHERS (SINGAPORE) PTE. LTD.

200707085N

 

Date Incorporated:

Registered Office:

Telephone Number:

25/04/2007

150 CECIL STREET #14-01 SINGAPORE 069543

6223 1423

Age of Company:

Website:

Industry Type:

6

NA

TRANSPORT/STORAGE

 

 

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):
7

Industry DTC

 

30

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

BAGADIYA BROTHERS PVT LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

BAGADIYA BROTHERS (SINGAPORE) PTE. LTD.

Registration No

:

200707085N

Date of Registration

:

25/04/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

150 CECIL STREET #14-01 SINGAPORE 069543

Date of Change of Address

:

26/03/2008

Contact No.

:

6223 1423

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. CHARTERING OF SHIPS, BARGES AND BOATS WITH CREW (FREIGHT)

SHIP CHARTERING AND SHIP MANAGEMENT SERVICES

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

WHOLESALE TRADING BUSINESS INCLUDING IMPORTS AND EXPORTS

Issued Ordinary Capital*

:

$348,550.00 SINGAPORE, DOLLARS, NO. OF SHARE : 348,550

Issued Preference Capital

:

$712,050.00 SINGAPORE, DOLLARS NO. OF SHARE : 712,050

Paid-Up Ordinary Capital

:

$348,550.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

$712,050.00 SINGAPORE, DOLLARS

* 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

:

NATARAJAN & SWAMINATHAN

Bankers / Financiers

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

DBS BANK LTD.

SOCIETE GENERALE

BANK JULIUS BAER & CO. LTD.

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

Turnover

:

SGD - SIN 267,398,594.00 (FY2012)

Net Worth

:

SGD - SIN 24,822,184.00 (FY2012)

No. of Bank Charges

:

7

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

BAGADIYA BROTHERS PVT LTD

SHAREHOLDER ID

:

T07UF1653K

NATIONALITY

:

INDIA

ADDRESS

:

BAGADIYA MANSION, JAWAHAR NAGAR, RAIPUR, INDIA-49200

NO. OF ORD SHARES

:

348,550

712,050

% OF SHAREHOLDING

:

32.9%

67.1%

CURRENCY

:

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

AGRAWAL MAHESH KUMAR

ADDRESS

:

121 MEYER ROAD #04-04 MAKENA, THE SINGAPORE 437932

POSITION

:

DIRECTOR

DATE OF APPT

:

29/07/2009

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G6281440W

 

NAME

:

AGRAWAL ANAND KUMAR

ADDRESS

:

BAGADIYA MANSION, JAWAHAR NAGAR RAIPUR, INDIA (CG:)

POSITION

:

DIRECTOR

DATE OF APPT

:

22/06/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

H3415432

 

NAME

:

OMI BAGADIYA

ADDRESS

:

BAGADIYA MANSION, JAWAHAR NAGAR, RAIPUR 492001, (CG:) INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

25/04/2007

NATIONALITY

:

INDIAN

I/C PASSPORT

:

J3891373

 

NAME

:

KIRTI RAHUL SONAWALE

ADDRESS

:

124 JURONG EAST STREET 13 #17-19 IVORY HEIGHTS SINGAPORE 600124

POSITION

:

SECRETARY

DATE OF APPT

:

07/09/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

S8174064Z

 

 

KEY PERSONNEL PROFILE

 

Name:

OMI BAGADIYA

NRIC Number:

J3891373

Available Address:

BAGADIYA MANSION, JAWAHAR NAGAR, RAIPUR 492001, (CG:) INDIA

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BAGADIYA BROTHERS (SINGAPORE) PTE. LTD.

DIRECTOR

25/04/2007

-

NA

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

           

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 7 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201210800

 

Date of Registration

:

21/09/2012

 

Chargee

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C201111454

 

Date of Registration

:

14/09/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

3)

Charge No.

:

C201111353

 

Date of Registration

:

12/09/2011

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

4)

Charge No.

:

C201108392

 

Date of Registration

:

11/07/2011

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

5)

Charge No.

:

C201108390

 

Date of Registration

:

11/07/2011

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

6)

Charge No.

:

C201001589

 

Date of Registration

:

22/02/2010

 

Chargee

:

BANK JULIUS BAER & CO. LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

ONE GEORGE STREET #21-02 SINGAPORE 049145

 

7)

Charge No.

:

C200906169

 

Date of Registration

:

29/09/2009

 

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

:

28/09/2012

Date of Last AR

:

31/10/2012

Date of A/C Laid At Last AGM

:

31/03/2012

 

 

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).

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2012

Currency

SGD - SIN

Profit and Loss Key Figures

 

Turnover

267,398,594

Profit/(Loss) Before Tax

5,169,610

Profit After Tax attributable to Shareholders

4,633,339

 

 

Balance Sheet Key Figures

 

Total Assets

50,307,295

Current Assets

30,538,783

Non Current Assets

19,768,512

 

 

Total Liabilities

25,485,111

Current Liabilities

24,897,141

Non Current Liabilities

587,970

 

 

Shareholders' Funds

24,822,184

Share Capital

287,813

Total Reserves

24,534,371

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

Growth %

 

Year-on-Year Growth

NA

 

 

Profitability

 

Profit Margin (%)

1.73

Return on Equity (%)

18.67

Return on Assets (%)

9.21

 

 

Leverage

 

Total Debt/Equity (Times)

1.03

Current Debt/Equity (Times)

1.00

Long Term Debt To Equity (Times)

0.02

Total Asset To Total Equity (Times)

2.03

 

 

Asset Management

 

Total Assets Turnover (Times)

5.32

Fixed Assets Turnover (Times)

13.53

 

 

Liquidity

 

Current Ratio (Times)

1.23

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

267,398,594

-31.67

391,359,562

233,254,492

157,105,634

60,326,160

Profit/(Loss) Before Tax

5,262,448

-60.57

13,346,097

9,382,844

1,788,590

3,869,837

Profit After Tax attributable

 to Shareholders

4,726,177

-59.44

11,651,569

8,208,007

1,658,126

3,294,695

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

51,210,807

-25.09

68,365,407

31,642,874

12,737,954

8,602,770

Current Assets

30,208,480

-48.21

58,333,597

27,342,615

12,704,934

8,594,438

Non Current Assets

21,002,327

109.36

10,031,810

4,300,259

33,020

8,332

 

 

 

 

 

 

 

Total Liabilities

26,271,283

-38.55

42,754,883

16,747,679

5,995,890

5,078,009

Current Liabilities

25,683,313

-39.04

42,130,723

16,077,862

5,317,985

4,608,009

Non Current Liabilities

587,970

-5.80

624,160

669,817

677,905

470,000

 

 

 

 

 

 

 

Shareholders' Funds

24,939,524

-2.62

25,610,524

14,895,195

6,742,065

3,524,761

Share Capital

287,813

-5.80

305,528

327,877

331,836

230,066

Total Reserves

24,651,711

-2.58

25,304,996

14,567,318

6,410,229

3,294,695

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-31.67

67.78

48.47

160.43

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.77

2.98

3.52

1.06

5.46

Return on Equity (%)

18.95

45.50

55.11

24.59

93.47

Return on Assets (%)

9.23

17.04

25.94

13.02

38.30

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.05

1.67

1.12

0.89

1.44

Current Debt/Equity (Times)

1.03

1.65

1.08

0.79

1.31

Long Term Debt To Equity (Times)

0.02

0.02

0.04

0.10

0.13

Total Asset To Total Equity (Times)

2.05

2.67

2.12

1.89

2.44

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

5.22

5.72

7.37

12.33

7.01

Fixed Assets Turnover (Times)

12.73

39.01

54.24

4,757.89

7,240.30

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.18

1.38

1.70

2.39

1.87

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 1.73 per cent in FY12. The group is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales.

 

Liquidity

 

Current ratio stood at 1.23 times in FY12. This means that the group has SGD - SIN 1.23 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 1.03 times in FY12. This means that the group requires additional external financing of SGD - SIN 1.03 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 18.67 per cent for Subject in the current financial period. 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 9.21 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 5.32 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.54.84

UK Pound

1

Rs.88.16

Euro

1

Rs.71.54

 

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%)

 

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.