MIRA INFORM REPORT

 

 

Report Date :

09.01.2013

 

IDENTIFICATION DETAILS

 

Name :

NOBLE RESOURCES INTERNATIONAL PTE. LTD.

 

 

Formerly Known As :

NOBLE RESOURCES SINGAPORE PTE. LTD.

 

 

Registered Office :

60 Anson Road #19-01 Mapletree Anson Singapore 079914

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

29.06.2011

 

 

Com. Reg. No.:

201115304N

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers and Exporters)

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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:

NOBLE RESOURCES INTERNATIONAL PTE. LTD.

201115304N

                                               

Date Incorporated:

Registered Office:

Telephone Number:

29/06/2011

60 ANSON ROAD #19-01 MAPLETREE ANSON SINGAPORE 079914

NA

Age of Company:

Website:

Industry Type:

1

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):
0

 

 

 

Industry DTC

 

 

24 Days

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NOBLE RESOURCES GROUP LIMITED

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

12

 

Executive Summary

 

Company Name

:

Noble Resources International Pte. Ltd.

Registration No

:

201115304N

Date of Registration

:

29/06/2011

Former Name

:

1. NOBLE RESOURCES SINGAPORE PTE. LTD. (Eff. date : 29/06/2011)

Date of Change of Name

:

25/07/2011

Type of Company

:

Limited Private Company

Registered Address

:

60 ANSON ROAD #19-01 MAPLETREE ANSON SINGAPORE 079914

Date of Change of Address

:

25/08/2011

Contact No.

:

NA

Fax No.

:

NA

Website

:

NA

Registered Activities

:

1. Other Investment Holding Companies

2. General Wholesale Trade (Including General Importers And Exporters)

Issued Ordinary Capital*

:

$88,136,500.00 SINGAPORE, DOLLARS NO. OF SHARE : 88,136,500

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$88,136,500.00 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

:

11

No. of Local Associates

:

1

Auditor

:

Ernst & Young Llp

Bankers / Financiers

:

NA

Turnover

:

$2,172,966,872.00 (FY2011)

Net Worth

:

$(64,518,587.00) (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

:

NOBLE RESOURCES GROUP LIMITED

SHAREHOLDER ID

:

T03UF0001C

NATIONALITY

:

NA

ADDRESS

:

P.O. BOX 957, OFFSHORE INCORPORATIONS CENTRE ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS

NO. OF ORD SHARES

:

88,136,500

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TIMOTHY MARTIN EYRE

ADDRESS

:

FLAT C, 8/F, THE MANHATTAN 33 TAI TAM ROAD, STANLEY, HONG KONG

POSITION

:

DIRECTOR

DATE OF APPT

:

01/11/2011

NATIONALITY

:

BRITISH

I/C PASSPORT

:

508184894

 

NAME

:

WILLIAM JAMES RANDALL

ADDRESS

:

8 ROCHALIE DRIVE SINGAPORE 248239

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2011

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

G5933539T

 

NAME

:

NEIL TIMOTHY DHAR

ADDRESS

:

6 DRAYCOTT PARK #03-03 DRAYCOTT EIGHT SINGAPORE 259403

POSITION

:

DIRECTOR

DATE OF APPT

:

17/08/2011

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

G6385595U

 

NAME

:

CHIA LUANG CHEW HAZEL

ADDRESS

:

729 CLEMENTI WEST STREET 2 #10-354 SINGAPORE 120729

POSITION

:

SECRETARY

DATE OF APPT

:

18/07/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1407126A

 

 

 

KEY PERSONNEL PROFILE

 

Name:

TIMOTHY MARTIN EYRE

NRIC Number:

508184894

Available Address:

FLAT C, 8/F, THE MANHATTAN 33 TAI TAM ROAD, STANLEY, HONG KONG

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ENERGY COAL MARKETING ASIA PTE. LTD.

DIRECTOR

01/11/2011

-

NA

2

NOBLE RESOURCES INTERNATIONAL PTE. LTD.

DIRECTOR

01/11/2011

-

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)

 

Traces

Status

Last Updated Date

No Trace

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES IN S’PORE

 

Company

Shareholdings (%)

 

WORLDWIDE WAREHOUSE SOLUTIONS SINGAPORE PTE. LTD.

100

NOBLE GAS AND POWER PTE. LTD.

100

NHCL PTE. LTD.

100

ENERGY COAL MARKETING ASIA PTE. LTD.

100

ZEAL RESOURCES PTE. LTD.

100

JAPET RESOURCES PTE. LTD.

100

TRIUMPH ALLIANCE PTE. LTD.

49

NOBLE PETROLEUM

NA (SOLE-PROPRIETOR)

NOBLE PETROCHEMICALS

NA (SOLE-PROPRIETOR)

NOBLE ENERGY

NA (SOLE-PROPRIETOR)

NOBLE CLEAN FUELS

NA (SOLE-PROPRIETOR)

NOBLE BUNKERS

NA (SOLE-PROPRIETOR)

 

                                                                                                                       

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

 :

23/11/2012

Date of Last AR

 :

04/12/2012

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

2,172,966,872

Profit Before Tax and Minority Interest

6,616,487

Profit After Tax and Minority Interest

5,110,743

ASSETS

 

Current Assets

2,559,482,369

Non-current Assets

315,276,276

- Fixed Assets

13,591,842

- Intangible Assets

5,672,888

- Long-term Investments

258,034,193

Total Assets

2,874,758,645

LIABILITIES

 

Current Liabilities

2,939,277,230

Long-Term Liabilities

0

Total Liabilities

2,939,277,230

SHAREHOLDERS’ FUNDS

 

Share Capital

38,146,749

Share Premium

0

Retained Earnings

5,110,743

Minority Interest

0

Other Reserves

(107,776,079)

Shareholders Funds

(64,518,587)

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 (%)

0.24

  Return on Equity (%)

-7.92

  Return on Assets (%)

0.18

  Return on Capital Employed

-0.28

DEBT MANAGEMENT

 

  Total Liabilities/Equity (times)

-45.56

  Current Liabilities/Equity (times)

-45.56

  Long Term Liabilities/Equity (times)

0.00

  Debt Service Cover Ratio

1.56

  Short-term Borrowings-to-cash Ratio

NA

EFFICIENCY MANAGEMENT

 

  Total Assets Turnover (times)

0.76

  Fixed Assets Turnover (times)

6.89

  Interest Coverage Ratio

1.56

  Average Payment Period (days)

380

LIQUIDITY MANAGEMENT

 

  Current Ratio (times)

0.87

  Quick Ratio (times)

0.80

  Average Collection Period (days)

122

 

 

FINANCIAL COMMENTARY

 

Profitability

 

The company yielded a rate of net profit on sales of 0.24 per cent in FY11. The company is now able to book in $0.00 of profit for every dollar of sales.

 

 

Liquidity

 

Current ratio stood at 0.87 times in FY11. This means that the company has $0.87 of current assets for every dollar of current liability incurred. Subject's current ratio is noted to be lower 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

 

We are unable to comment on Subject's leverage.

 

 

Efficiency Ratio

 

 

We are unable to comment on Subject's return on equity.

 

Return on assets stood at 0.18 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 0.76 times in FY11. 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.55.32

UK Pound

1

Rs.89.05

Euro

1

Rs.72.56

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.