MIRA INFORM REPORT

 

 

Report Date :

22.01.2013

 

IDENTIFICATION DETAILS

 

Name :

PT MINERALS PTE. LTD.

 

 

 

 

Formerly Known as:

SKYWELL PTE. LTD. Eff. date : 13/06/2006 Eff. date : 13/06/2006

 

 

 

 

Registered Office :

809 French Road #07-150 Kitchener Complex Singapore 200809

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

December, 2009

 

 

 

 

Date of Incorporation :

13.06.2006

 

 

 

 

Reg. No.:

200608597N

 

 

 

 

Legal Form :

Limited Exempt Private Company

 

 

 

 

Line of Business :

Iron and Steel Foundries

 

 

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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

(31.03.2011)

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:

PT MINERALS PTE. LTD.

200608597N

 

Date Incorporated:

Registered Office:

Telephone Number:

13/06/2006

809 FRENCH ROAD #07-150 KITCHENER COMPLEX SINGAPORE 200809

6536 8108

Age of Company:

Website:

Industry Type:

6

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):
9

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

NA

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

NA

 

Company Name

 

PT MINERALS PTE. LTD.

 

 

EXECUTIVE SUMMARY

 

Company Name

:

PT MINERALS PTE. LTD.

Registration No

:

200608597N

Date of Registration

:

13/06/2006

Former Name

:

SKYWELL PTE. LTD. Eff. date : 13/06/2006 Eff. date : 13/06/2006

Date of Change of Name

:

24/08/2006

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

809 FRENCH ROAD #07-150 KITCHENER COMPLEX SINGAPORE 200809

Date of Change of Address

:

13/06/2006

Contact No.

:

6536 8108

Fax No.

:

6536 8208

Website

:

NA

Registered Activities

:

IRON AND STEEL FOUNDRIES

IRON ORE, STEEL PRODUCTS

Issued Ordinary Capital*

:

$1,000,002.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,002

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,002.00 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

:

NA

No. of Local Associates

:

NA

Auditor

:

CPA CHENG LAU

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

ING BANK N.V.

STANDARD CHARTERED BANK

UNITED OVERSEAS BANK LIMITED

Turnover

:

SGD - SIN 297,219,646.00 (FY2009)

Net Worth

:

SGD - SIN 8,922,876.00 (FY2009)

No. of Bank Charges

:

9

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

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

296 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

66.55% (3 years)

Operating Office :

:

4 Robinson Road, #07-01 The House of Eden Downtown Singapore 
Singapore 48543 Singapore. 

 

 

SHAREHOLDER DETAILS

 

NAME

:

TIAN FENG

SHAREHOLDER ID

:

G06405287

NATIONALITY

:

CHINESE

ADDRESS

:

UNIT 301, NO. 1-3 BINHULU, NANNING, GUANGXI PROVINCE CHINA 530021

NO. OF ORD SHARES

:

1,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEN QIANG

SHAREHOLDER ID

:

E4067997

NATIONALITY

:

AUSTRALIAN

ADDRESS

:

67 HOBBS AVE., DALKEITH, WA 6009 AUSTRALIA

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LOO KIN SANG

SHAREHOLDER ID

:

S1171959G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

104 POTONG PASIR AVENUE 1 #02-390 SINGAPORE 350104

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHEN QIANG

ADDRESS

:

67 HOBBS AVE., DALKEITH, WA 6009 AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

13/06/2006

NATIONALITY

:

AUSTRALIAN

I/C PASSPORT

:

E4067997

 

NAME

:

WANG QING

ADDRESS

:

15A, RYRIE AVENUE, COMO 6152, WESTERN AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

27/08/2007

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G02463447

 

NAME

:

QIN WEIFENG

ADDRESS

:

UNIT 902/3 BUILDING NO. 29 SHENG GU ZHUANG BEILI, BEIJING

POSITION

:

DIRECTOR

DATE OF APPT

:

27/08/2007

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G06869378

 

NAME

:

XUJIAN

ADDRESS

:

5, ROB ROY STREET, SWANBOURNE 6010, WESTERN AUSTRALIA

POSITION

:

DIRECTOR

DATE OF APPT

:

27/08/2007

NATIONALITY

:

CHINESE

I/C PASSPORT

:

G06875729

 

NAME

:

loo sang

ADDRESS

:

80 JELLICOE ROAD #30-01 CITYLIGHTS SINGAPORE 208766

POSITION

:

SECRETARY

 

DATE OF APPT

:

13/06/2006

 

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0178411J

 

NAME

:

LOO KIN SANG

ADDRESS

:

104 POTONG PASIR AVENUE 1 #02-390 SINGAPORE 350104

POSITION

:

DIRECTOR

DATE OF APPT

:

13/06/2006

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1171959G

 

 

KEY PERSONNEL PROFILE

 

Name:

CHEN QIANG

NRIC Number:

E4067997

Available Address:

67 HOBBS AVE., DALKEITH, WA 6009 AUSTRALIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

PT MINERALS PTE. LTD.

DIRECTOR

13/06/2006

1

0.00

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BROWNSTONE SHIPPING PTE. LTD.

LIVE COMPANY

DIRECTOR

17/11/2011

03/12/2012

2

BROWNSTONE SHIPPING PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

03/12/2012

 

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 9 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201115011

 

Date of Registration

:

29/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C201115009

 

Date of Registration

:

29/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201112105

 

Date of Registration

:

27/09/2011

 

Chargee

:

ING BANK N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

4)

Charge No.

:

C201008387

 

Date of Registration

:

20/09/2010

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

5)

Charge No.

:

C200708095

 

Date of Registration

:

27/09/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

6)

Charge No.

:

C200708085

 

Date of Registration

:

27/09/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

7)

Charge No.

:

C200703957

 

Date of Registration

:

25/05/2007

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

 

 

8)

Charge No.

:

C200703956

 

Date of Registration

:

25/05/2007

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

9)

Charge No.

:

C200604531

 

Date of Registration

:

12/07/2006

 

Chargee

:

ING BANK N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

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

 

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).

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2009

% Change

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

Turnover

297,219,646

-61.74

776,919,520

374,358,994

64,335,574

Profit/(Loss) Before Tax

878,900

NA

(403,539)

1,693,449

1,164,926

Profit After Tax attributable

 to Shareholders

669,361

NA

(824,009)

1,275,722

949,089

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

Total Assets

71,383,005

-31.96

104,915,869

174,650,677

48,289,748

Current Assets

71,368,454

-31.62

104,364,177

174,057,143

47,732,416

Non Current Assets

14,551

-97.36

551,692

593,534

557,332

 

 

 

 

 

 

Total Liabilities

62,460,129

-35.55

96,912,818

164,810,038

38,937,814

Current Liabilities

41,934,023

-46.37

78,194,824

146,407,488

17,926,267

Non Current Liabilities

20,526,106

9.66

18,717,994

18,402,550

21,011,547

 

 

 

 

 

 

Shareholders' Funds

8,922,876

11.49

8,003,050

9,840,639

9,351,934

Share Capital

912,368

3.13

884,681

942,141

926,915

Total Reserves

8,010,508

12.53

7,118,369

8,898,498

8,425,019

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

Year-on-Year Growth

-61.74

107.53

481.88

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

0.23

-0.11

0.34

1.48

Return on Equity (%)

7.50

-10.30

12.96

10.15

Return on Assets (%)

0.94

-0.79

0.73

1.97

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

7.00

12.11

16.75

4.16

Current Debt/Equity (Times)

4.70

9.77

14.88

1.92

Long Term Debt To Equity (Times)

2.30

2.34

1.87

2.25

Total Asset To Total Equity (Times)

8.00

13.11

17.75

5.16

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

4.16

7.41

2.14

1.33

Fixed Assets Turnover (Times)

20,426.06

1,408.25

630.73

115.43

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

1.70

1.33

1.19

2.66

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 66.55% (3 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 0.23 per cent in FY09. The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales.

 

Liquidity

 

Current ratio stood at 1.70 times in FY09 (FY08: 1.33 times). This means that the company has SGD - SIN 1.70 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 7.00 times in FY09, compared with 12.11 times in FY08. This means that the company requires additional external financing of SGD - SIN 7.00 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 7.50 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 0.94 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 4.16 times in FY09 (FY08: 7.41 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.53.87

UK Pound

1

Rs.85.52

Euro

1

Rs.71.77

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.