MIRA INFORM REPORT

Report Date :

10.07.2013

IDENTIFICATION DETAILS

Name :	ALPHA COMMODITIES PTE. LTD.
Registered Office :	137 Amoy Street #03-03 Singapore 049965
Country :	Singapore
Financials (as on) :	31.12.2012
Date of Incorporation :	10.06.2011
Com. Reg. No.:	201113872C
Legal Form :	Limited Private Company
Line of Business :	1. General Wholesale Trade (Including General Importers And Exporters) 2. Wholesale of Rubber (Including Rubber Brokers)
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 :	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 – 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:
ALPHA COMMODITIES PTE. LTD.	201113872C

Date Incorporated:	Registered Office:	Telephone Number:
10/06/2011	137 AMOY STREET #03-03 SINGAPORE 049965	67376848
Age of Company:	Website:	Industry Type:
2	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): 6
Industry DTC
25

Directors		Corporate Structure
Number of Current Directors	5	Holding Company:	SOUTHLAND RESOURCES CO., LTD.
Number that are shareholders	6	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	ALPHA COMMODITIES PTE. LTD.
Registration No	:	201113872C
Date of Registration	:	10/06/2011
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	137 AMOY STREET #03-03 SINGAPORE 049965
Date of Change of Address	:	01/02/2012
Contact No.	:	67376848
Fax No.	:	NA
Website	:	NA
Registered Activities	:	1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) 2. WHOLESALE OF RUBBER (INCLUDING RUBBER BROKERS)
Issued Ordinary Capital*	:	$10,000,000.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 10,000,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$10,000,000.00 UNITED STATES OF AMERICA, 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	:	RSM CHIO LIM LLP
Bankers / Financiers	:	OVERSEA-CHINESE BANKING CORPORATION LIMITED THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED DBS BANK LTD. STANDARD CHARTERED BANK
Turnover	:	SINGAPORE, DOLLARS 188,366,127.23 (FY2012)
Net Worth	:	SINGAPORE, DOLLARS 6,351,812.82 (FY2012)

No. of Bank Charges	:	6
No. of Litigation Suits	:	NA
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	NA

SHAREHOLDER DETAILS

NAME	:	SOUTHLAND RESOURCES CO., LTD.
SHAREHOLDER ID	:	T05UF1884D
NATIONALITY	:	NA
ADDRESS	:	NO. 55 RAJYINDEE ROAD, HATYAI SUB-DIST, HATYAI DISTRICT, SONGKHLA PROVINCE, THAILAND
NO. OF ORD SHARES	:	7,450,000
% OF SHAREHOLDING	:	74.5%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS
NAME	:	PHERM TIRASARNVONG
SHAREHOLDER ID	:	P984181
NATIONALITY	:	THAI
ADDRESS	:	55 RAJYINDEE ROAD ROAD, HATYAI SONGKHLA 90110 THAILAND
NO. OF ORD SHARES	:	1,900,000
% OF SHAREHOLDING	:	19%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS
NAME	:	FENG NIAN COMPANY PTE. LTD.
SHAREHOLDER ID	:	200310407C
NATIONALITY	:	SINGAPORE
ADDRESS	:	8 CROSS STREET #23-03 PWC BUILDING SINGAPORE 048424
NO. OF ORD SHARES	:	250,000
% OF SHAREHOLDING	:	2.5%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS
NAME	:	RAJIV JOSEPH THARIAN
SHAREHOLDER ID	:	F2381534
NATIONALITY	:	INDIAN
ADDRESS	:	URUMBATH HOUSE, HIGHRANGE BUNGALOW, RAILWAY STATION ROAD ALWAYE-683101 ERNAKULAM KERALA INDIA
NO. OF ORD SHARES	:	150,000
% OF SHAREHOLDING	:	1.5%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS
NAME	:	LIM THIAM CHYE
SHAREHOLDER ID	:	S1433609E
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	20 PENSHURST PLACE SERANGOON GARDEN ESTATE SINGAPORE 556435
NO. OF ORD SHARES	:	150,000
% OF SHAREHOLDING	:	1.5%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS
NAME	:	LEONG TIM FOOK
SHAREHOLDER ID	:	S2000628E
NATIONALITY	:	SINGAPORE CITIZEN
ADDRESS	:	2 KIM YAM ROAD #06-02 RIVIERA POINT SINGAPORE 239320
NO. OF ORD SHARES	:	100,000
% OF SHAREHOLDING	:	1%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS

OFFICER DETAILS

NAME	:	NG TZE KIAT
ADDRESS	:	55 RAJYINDEE ROAD HATYAI SONGKHLA 90110 THAILAND
POSITION	:	DIRECTOR
DATE OF APPT	:	28/05/2012
NATIONALITY	:	MALAYSIAN
I/C PASSPORT	:	A27130497
NAME	:	RAJIV JOSEPH THARIAN
ADDRESS	:	URUMBATH HOUSE, HIGHRANGE BUNGALOW, RAILWAY STATION ROAD ALWAYE-683101 ERNAKULAM KERALA INDIA
POSITION	:	DIRECTOR
DATE OF APPT	:	28/05/2012
NATIONALITY	:	INDIAN
I/C PASSPORT	:	F2381534
NAME	:	PHERM TIRASARNVONG
ADDRESS	:	2 KIM YAM ROAD #06-02 RIVIERA POINT SINGAPORE 239320
POSITION	:	DIRECTOR
DATE OF APPT	:	28/05/2012
NATIONALITY	:	THAI
I/C PASSPORT	:	G5171428N
NAME	:	LIM THIAM CHYE
ADDRESS	:	20 PENSHURST PLACE SERANGOON GARDEN ESTATE SINGAPORE 556435
POSITION	:	DIRECTOR
DATE OF APPT	:	10/06/2011
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1433609E
NAME	:	SEAH SIEW YIAN
ADDRESS	:	433 BUKIT PANJANG RING ROAD #03-625 SINGAPORE 670433
POSITION	:	SECRETARY
DATE OF APPT	:	10/06/2011
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1670866F
NAME	:	LEONG TIM FOOK
ADDRESS	:	2 KIM YAM ROAD #06-02 RIVIERA POINT SINGAPORE 239320
POSITION	:	DIRECTOR
DATE OF APPT	:	10/06/2011
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S2000628E

KEY PERSONNEL PROFILE

Name:	PHERM TIRASARNVONG
NRIC Number:	P984181
Available Address:	55 RAJYINDEE ROAD ROAD, HATYAI SONGKHLA 90110 THAILAND

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ALPHA COMMODITIES PTE. LTD.	SHAREHOLDER	-	1900000	19.00

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	BILLION COMMODITIES PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	27/06/2013
2	FENG NIAN COMPANY PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	05/07/2013

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 (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there have been 6 bank charges registered against Subject by its bankers. The charge numbers are:

1)	Charge No.	:	C201301735
	Date of Registration	:	31/01/2013
	Chargee	:	OVERSEA-CHINESE BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513
2)	Charge No.	:	C201301263
	Date of Registration	:	23/01/2013
	Chargee	:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320
3)	Charge No.	:	C201301247
	Date of Registration	:	23/01/2013
	Chargee	:	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
	Amount Secured and Currency	:	All Monies
	Address	:	21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320
4)	Charge No.	:	C201205555
	Date of Registration	:	21/05/2012
	Chargee	:	DBS BANK LTD.
	Amount Secured and Currency	:	All Monies
	Address	:	6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809
5)	Charge No.	:	C201204409
	Date of Registration	:	23/04/2012
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909
6)	Charge No.	:	C201204400
	Date of Registration	:	23/04/2012
	Chargee	:	STANDARD CHARTERED BANK
	Amount Secured and Currency	:	All Monies
	Address	:	6 BATTERY ROAD SINGAPORE 049909

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	03/06/2013
Date of Last AR	:	21/06/2013
Date of A/C Laid At Last AGM	:	31/12/2012

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
	DEC 2012
Currency	SGD - SIN
Profit and Loss Key Figures
Turnover	188,366,127
Profit/(Loss) Before Tax	115,906
Profit After Tax attributable to Shareholders	115,936
Balance Sheet Key Figures
Total Assets	22,528,064
Current Assets	22,455,077
Non Current Assets	72,987
Total Liabilities	16,176,251
Current Liabilities	16,176,251
Non Current Liabilities	0
Shareholders' Funds	6,351,813
Share Capital	6,231,500
Total Reserves	(31,448)

* Subject appears to have increased its share capital to US $10,000,000.00 as at report date.

FINANCIAL RATIOS

	Group
	DEC 2012
Growth %
Year-on-Year Growth	NA
Profitability
Profit Margin (%)	0.06
Return on Equity (%)	1.83
Return on Assets (%)	0.51
Leverage
Total Debt/Equity (Times)	2.55
Current Debt/Equity (Times)	2.55
Long Term Debt To Equity (Times)	NA
Total Asset To Total Equity (Times)	3.55
Asset Management
Total Assets Turnover (Times)	8.36
Fixed Assets Turnover (Times)	2,580.82
Liquidity
Current Ratio (Times)	1.39

FINANCIAL HIGHLIGHTS

Financial Figures	Company
	DEC 2012	% Change	10/06/2011 To 31/12/2011
Currency	SGD - SIN		SGD - SIN
Profit and Loss Key Figures
Turnover	*	-100.00	5,389,219
Profit/(Loss) Before Tax	*	NA	(149,529)
Profit After Tax attributable to Shareholders	*	NA	(149,529)
Balance Sheet Key Figures
Total Assets	22,423,284	180.42	7,996,408
Current Assets	21,377,724	167.78	7,983,426
Non Current Assets	1,045,560	7,953.92	12,982
Total Liabilities	16,215,296	766.20	1,872,008
Current Liabilities	16,215,296	766.20	1,872,008
Non Current Liabilities	0	NA	0
Shareholders' Funds	6,207,987	1.36	6,124,401
Share Capital	6,231,500	-0.68	6,273,930
Total Reserves	(23,513)	NA	(149,529)

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

FINANCIAL RATIOS

	Company
	DEC 2012	10/06/2011 To 31/12/2011
Growth %
Year-on-Year Growth	-100.00	NA
Profitability
Profit Margin (%)	0.00	-2.77
Return on Equity (%)	0.00	-2.44
Return on Assets (%)	0.00	-1.87
Leverage
Total Debt/Equity (Times)	2.61	0.31
Current Debt/Equity (Times)	2.61	0.31
Long Term Debt To Equity (Times)	0.00	0.00
Total Asset To Total Equity (Times)	3.61	1.31
Asset Management
Total Assets Turnover (Times)	0.00	0.67
Fixed Assets Turnover (Times)	0.00	415.13
Liquidity
Current Ratio (Times)	1.32	4.26

FINANCIAL COMMENTARY

Profitability

The group yielded a rate of net profit on sales of 0.06 per cent in FY12. The group is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales.

Liquidity

Current ratio stood at 1.39 times in FY12. This means that the group has SINGAPORE, DOLLARS 1.39 of current assets for every SINGAPORE, DOLLARS 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 2.55 times in FY12. This means that the group requires additional external financing of SINGAPORE, DOLLARS 2.55 for every SINGAPORE, DOLLARS 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 1.83 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 0.51 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 8.36 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.60.07
UK Pound	1	Rs.89.91
Euro	1	Rs.77.43

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
s71-85	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.