MIRA
INFORM REPORT
|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHILLIPS 66 INTERNATIONAL TRADING PTE. LTD. |
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|
Formerly Known As : |
CONOCOPHILLIPS INTERNATIONAL TRADING PTE. LTD |
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Registered Office : |
1 Temasek Avenue #40-01 Millenia Tower Singapore 039192 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.06.2007 |
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Com. Reg. No.: |
200710844M |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Wholesaler of crude petroleum |
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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 |
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|
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
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 31st 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 |
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High |
B2 |
|
Very High |
C1 |
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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 |
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Company Name: |
Registered Number: |
|
PHILLIPS 66 INTERNATIONAL TRADING PTE. LTD. |
200710844M |
|
Date Incorporated: |
Registered Office: |
Telephone Number: |
|
18/06/2007 |
1 TEMASEK AVENUE #40-01 MILLENIA TOWER SINGAPORE 039192 |
69334100 |
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Age of Company: |
Website: |
Industry Type: |
|
6 |
NA |
COMMERCE-WHOLESALE |
|
Risk Dashboard |
||
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Days Beyond Terms |
Trend: |
No. of Litigation Counts: |
|
Company DTC: |
1 |
|
|
160 |
||
|
Payment pattern
as per previous month |
No. of Charges(s): |
|
|
Industry DTC |
|
|
|
37 |
||
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Directors |
|
Corporate
Structure |
||
|
Number of
Current Directors |
7 |
Holding Company: |
PHILLIPS 66 COMPANY |
|
|
Number that are
shareholders |
1 |
No. of
Subsidiaries & Associated Companies: |
NA |
|
EXECUTIVE
SUMMARY
SHAREHOLDER DETAILS
|
: |
PHILLIPS 66 COMPANY |
|
|
SHAREHOLDER ID |
: |
T12UF1552A |
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NATIONALITY |
: |
UNITED STATES |
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ADDRESS |
: |
2711 CENTERVILLE ROAD, SUITE 400, WILMINGTON, DELAWARE 19808 U.S.A. |
|
NO. OF ORD SHARES |
: |
30,100 |
|
% OF SHAREHOLDING |
: |
100% |
|
CURRENCY |
: |
SINGAPORE, DOLLARS |
OFFICER DETAILS
|
: |
JOHN
ALTON WILEY |
|
|
ADDRESS |
: |
29222
DEER CREEK, MAGNOLIA, TX 77355 UNITED STATES OF AMERICA |
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POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
23/03/2012 |
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NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
444826448 |
|
|
||
|
NAME |
: |
CHEN
XIANQIAO |
|
ADDRESS |
: |
2
LEONIE HILL ROAD #12-01 LEONIE CONDOTEL SINGAPORE 239192 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
01/05/2012 |
|
NATIONALITY |
: |
CHINESE |
|
I/C PASSPORT |
: |
G5025377K |
|
|
||
|
NAME |
: |
DENIS
VIKTOROVICH OGNEV |
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ADDRESS |
: |
23 JALAN
KELAWAR KIM LIN PARK SINGAPORE 249264 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
01/12/2010 |
|
NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
G5062721M |
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|
||
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NAME |
: |
DAVID
ALAN WALDSCHMIDT |
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ADDRESS |
: |
25 CLAYMORE
ROAD #08-02 CLAYMORE, THE SINGAPORE 229543 |
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POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
08/08/2012 |
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NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
G5295027P |
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||
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NAME |
: |
DOUGLAS
RAY HESKAMP |
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ADDRESS |
: |
238 ORCHARD
BOULEVARD #36-08 ORCHARD RESIDENCES, THE SINGAPORE 237973 |
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POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
01/05/2010 |
|
NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
G5851410T |
|
|
||
|
NAME |
: |
BARRY
ALLAN HAMBERG |
|
ADDRESS |
: |
10 MARGATE
ROAD #18-03 MEIER SUITES SINGAPORE 438051 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
07/01/2008 |
|
NATIONALITY |
: |
AMERICAN |
|
I/C PASSPORT |
: |
G6037169K |
|
|
||
|
NAME |
: |
POH
TECK HEOK |
|
ADDRESS |
: |
95 BELIMBING
AVENUE OASIS @ MULBERRY SINGAPORE 349960 |
|
POSITION |
: |
DIRECTOR |
|
DATE OF APPT |
: |
01/09/2009 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S1425818C |
|
NAME |
: |
TAY TUAN
LENG |
|
ADDRESS |
: |
635
PASIR RIS DRIVE 1 #11-600 SINGAPORE 510635 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
10/05/2010 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7432140B |
|
|
||
|
NAME |
: |
LEE
WEI HSIUNG |
|
ADDRESS |
: |
633
JURONG WEST STREET 65 #10-310 SINGAPORE 640633 |
|
POSITION |
: |
SECRETARY |
|
DATE OF APPT |
: |
25/11/2009 |
|
NATIONALITY |
: |
SINGAPORE
CITIZEN |
|
I/C PASSPORT |
: |
S7927166G |
KEY PERSONNEL PROFILE
|
BARRY ALLAN HAMBERG |
|
|
NRIC Number: |
G6037169K |
|
Available Address: |
10 MARGATE ROAD #18-03 MEIER
SUITES SINGAPORE 438051 |
Current Business Interest
|
No. |
Name |
Position |
Appt Date |
#of Share |
% |
|
PHILLIPS 66 INTERNATIONAL
TRADING PTE. LTD. |
DIRECTOR |
07/01/2008 |
- |
NA |
Previous Business
|
No. |
Name |
Status |
Position |
Appt Date |
Last Known Inactive Date |
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Bankruptcy Record
|
Case
No. |
Year |
Date
of Filing |
Petitioner
Name |
Amount |
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|
|
|
|
Litigation Search – Writ of Summons
|
Court |
Case No. |
Transfer |
Year |
Date
of Filing |
Amount |
Cause
Category |
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SUBSIDIARIES AND ASSOCIATE
COMPANIES
|
Company |
Shareholdings (%) |
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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
there has been 1 litigation suit filed against Subject.
The details are as follows:
|
Court |
: |
Supreme
Court |
|
|
|
Case
No. |
: |
232 |
|
|
Transfer |
: |
- |
|
|
Date
of Filing |
: |
15/03/2012 |
|
|
Amount
|
: |
0.00 |
|
|
Cause |
: |
Contract
- Others |
|
|
Case
Status |
: |
CONCLUDED |
|
|
Plaintiff |
: |
SINOPEC
FUEL OIL (SINGAPORE) PTE LTD |
|
|
Last
Update Date |
: |
01/06/2012 |
COMPLIANCE
|
Date of Last AGM |
: |
|
|
Date of Last AR |
: |
03/09/2012 |
|
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).
For more information: www.acra.gov.sg/compliance
FINANCIAL HIGHLIGHTS
|
Financial Figures |
||||||
|
|
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 |
|
|
|
|
|
|
|
28,947,276,192 |
184.55 |
10,173,052,122 |
318,162,511 |
0 |
0 |
|
|
Profit/(Loss) Before Tax |
9,379,851 |
NA |
(74,147,568) |
(14,832,559) |
(453,545) |
(572,943) |
|
Profit After Tax attributable to
Shareholders |
9,379,851 |
NA |
(74,147,568) |
(14,832,559) |
(453,545) |
(572,943) |
|
|
|
|
|
|
|
|
|
Balance Sheet Key Figures |
|
|
|
|
|
|
|
Total Assets |
1,817,755,785 |
-3.75 |
1,888,639,808 |
61,219,972 |
120,451,476 |
75,163,929 |
|
Current Assets |
1,816,880,195 |
-3.75 |
1,887,644,698 |
60,963,853 |
119,905,551 |
75,163,929 |
|
Non Current Assets |
875,590 |
-12.01 |
995,110 |
256,119 |
545,925 |
0 |
|
|
|
|
|
|
|
|
|
Total Liabilities |
1,513,829,984 |
-3.54 |
1,569,389,021 |
4,318,359 |
50,894,175 |
605,918 |
|
Current Liabilities |
1,513,776,066 |
-3.54 |
1,569,349,082 |
4,290,905 |
50,882,177 |
605,918 |
|
Non Current Liabilities |
53,918 |
35.00 |
39,939 |
27,454 |
11,998 |
0 |
|
|
|
|
|
|
|
|
|
Shareholders' Funds |
303,925,800 |
-4.80 |
319,250,787 |
56,901,614 |
69,557,302 |
74,558,010 |
|
Share Capital |
376,635,087 |
-7.74 |
408,225,094 |
72,756,750 |
70,548,847 |
75,130,954 |
|
Total Reserves |
(72,709,287) |
NA |
(88,974,307) |
(15,855,136) |
(991,545) |
(572,944) |
|
|
|
|
|
|
|
|
FINANCIAL RATIOS
|
|
|||||
|
|
DEC
2011 |
DEC
2010 |
DEC
2009 |
DEC
2008 |
DEC
2007 |
|
Growth % |
|
|
|
|
|
|
184.55 |
3,097.44 |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Profitability |
|
|
|
|
|
|
Profit Margin (%) |
0.03 |
-0.73 |
-4.66 |
0.00 |
0.00 |
|
Return on Equity (%) |
3.09 |
-23.23 |
-26.07 |
-0.65 |
-0.77 |
|
Return on Assets (%) |
0.52 |
-3.93 |
-24.23 |
-0.38 |
-0.76 |
|
|
|
|
|
|
|
|
Leverage |
|
|
|
|
|
|
Total Debt/Equity (Times) |
4.98 |
4.92 |
0.08 |
0.73 |
0.01 |
|
Current Debt/Equity (Times) |
4.98 |
4.92 |
0.08 |
0.73 |
0.01 |
|
Long Term Debt To Equity (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Asset To Total Equity (Times) |
5.98 |
5.92 |
1.08 |
1.73 |
1.01 |
|
|
|
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
Total Assets Turnover (Times) |
15.92 |
5.39 |
5.20 |
0.00 |
0.00 |
|
Fixed Assets Turnover (Times) |
33,060.31 |
10,223.04 |
1,242.24 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
Current Ratio (Times) |
1.20 |
1.20 |
14.21 |
2.36 |
124.05 |
|
|
|
|
|
|
|
FINANCIAL COMMENTARY
Profitability
The company yielded a rate of net
profit on sales of 0.03 per cent in FY11. 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 1.20 times in FY11
(FY10: 1.20 times). This means that the company has SGD - SIN 1.20 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 4.98 times in FY11, compared with 4.92 times in FY10. This means that
the company requires additional external financing of SGD - SIN 4.98 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 3.09 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 0.52 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 15.92 times in FY11 (FY10: 5.39
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.56.49 |
|
UK Pound |
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.