MIRA INFORM REPORT

 

 

Report Date :

24.05.2013

 

IDENTIFICATION DETAILS

 

Name :

CONCORDIA AGRITRADING PTE LTD

 

 

Formerly Known As :

TRANSPALM AGENCY PTE. LTD.

 

 

Registered Office :

135 Cecil Street #06-01 Lkn Building Singapore 069536

 

 

Country :

Singapore

 

 

Financials (as on) :

September 2012

 

 

Date of Incorporation :

06.03.1985

 

 

Com. Reg. No.:

198500536M

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General wholesale trade (including general importers and exporters)

Manufacture of other edible oils

 

 

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 :

Usually Correct

 

 

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 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

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:

CONCORDIA AGRITRADING PTE LTD

198500536M

 

Date Incorporated:

Registered Office:

Telephone Number:

06/03/1985

135 CECIL STREET #06-01 LKN BUILDING SINGAPORE 069536

6225 5325

Age of Company:

Website:

Industry Type:

28

www.concordia-sin.com

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

3

22

Better than last month;last month the entity took 70 days to pay

No. of Charges(s):
1

Industry DTC

 

36

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NIDERA B.V.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

CONCORDIA AGRITRADING PTE LTD

Registration No

:

198500536M

Date of Registration

:

06/03/1985

Former Name

:

TRANSPALM AGENCY PTE. LTD. Eff. date : 06/03/1985 Eff. date : 06/03/1985

Date of Change of Name

:

05/01/1995

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

135 CECIL STREET #06-01 LKN BUILDING SINGAPORE 069536

Date of Change of Address

:

19/02/2008

Contact No.

:

6225 5325

Fax No.

:

6225 5840

Website

:

www.concordia-sin.com

Registered Activities

:

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

2. MANUFACTURE OF OTHER EDIBLE OILS

Issued Ordinary Capital*

:

$11,410,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 11,410,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$11,410,000.00 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

:

ERNST & YOUNG LLP

Bankers / Financiers

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. (TRADING AS RABOBANK INTL), LONDON BRANCH

Turnover

:

SGD - SIN 9,494,248,723.00 (FY2012)

Net Worth

:

SGD - SIN 158,207,423.00 (FY2012)

No. of Bank Charges

:

1

No. of Litigation Suits

:

3

S1000 / SME 1000 / FG50 Ranking

:

62 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

70 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

712 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

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

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

Compounded Annual Growth Rate (CAGR)

:

21.51% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

NIDERA B.V.

SHAREHOLDER ID

:

S85UF0101B

NATIONALITY

:

NA

ADDRESS

:

WILLEMSPLEIN 492-3016 DR ROTTERDAM, THE NETHERLANDS

NO. OF ORD SHARES

:

11,410,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

IGOR POPOV

ADDRESS

:

VAN BOETZELAERLAAN 4, 2242 SW, WASSENAAR, THE NETHERLANDS

POSITION

:

DIRECTOR

DATE OF APPT

:

09/04/2013

NATIONALITY

:

RUSSIAN

I/C PASSPORT

:

51NO.4232701

 

NAME

:

MARCELO LUIS BIANCHINI MARTINS

ADDRESS

:

135 CECIL STREET #06-01 SINGAPORE 069536

POSITION

:

DIRECTOR

DATE OF APPT

:

15/12/2011

NATIONALITY

:

BRAZILIAN

I/C PASSPORT

:

G5028992W

 

NAME

:

STEPHEN LEONG

ADDRESS

:

5 JALAN ISHAK SINGAPORE 419321

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/2013

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1023724F

 

NAME

:

ONG LIAN KIN ESTHER

ADDRESS

:

5 JALAN ISHAK SINGAPORE 419321

POSITION

:

SECRETARY

DATE OF APPT

:

01/03/1991

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1126307J

 

NAME

:

LIM BOON KIAT

ADDRESS

:

86 WILKIE ROAD #01-11 WILKIE STUDIO SINGAPORE 228096

POSITION

:

DIRECTOR

DATE OF APPT

:

16/05/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7030024I

 

 

KEY PERSONNEL PROFILE

 

Name:

LIM BOON KIAT

NRIC Number:

S7030024I

Available Address:

86 WILKIE ROAD #01-11 WILKIE STUDIO  SINGAPORE 228096

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

CONCORDIA AGRITRADING PTE LTD

DIRECTOR

16/05/2011

-

NA

2

TRANSGRAIN SHIPPING (SINGAPORE) PTE. LTD.

SECRETARY

01/09/2010

-

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

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

                                                                                                                       

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C200905515

 

Date of Registration

:

02/09/2009

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. (TRADING AS RABOBANK INTL), LONDON BRANCH

 

Amount Secured  and Currency

:

800,000,000.00 UNITED STATES OF AMERICA, DOLLARS

 

Address

:

---

             

 

LITIGATION

 

there have been 3 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

District ($80,000 - $250,000)

0

1

High (>$250,000)

0

2

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

District Court

 

Case No.

:

1459

 

Transfer

:

-

 

Date of Filing

:

18/04/2001

 

Amount

:

0.00

 

Cause

:

Contracts - Employment

 

Case Status

:

CONCLUDED

 

Plaintiff

:

LUTZ MAHN

 

Last Update Date

:

27/07/2007

 

2)

Court

:

Supreme Court

 

Case No.

:

1332

 

Transfer

:

-

 

Date of Filing

:

03/07/1997

 

Amount

:

76,068.75

 

Cause

:

CONTRACTS-GENERAL

 

Case Status

:

CONCLUDED

 

Plaintiff

:

P T BUDI SEMESTA SATRIA

 

Last Update Date

:

26/12/2002

 

3)

Court

:

Supreme Court

 

Case No.

:

2346

 

Transfer

:

-

 

Date of Filing

:

NA

 

Amount

:

0.00

 

Cause

:

NA

 

Case Status

:

NA

 

Plaintiff

:

CHOICES UNLIMITED SERVICES P/L

 

Last Update Date

:

25/07/1991

 

 

COMPLIANCE

 

Date of Last AGM

:

15/02/2013

Date of Last AR

:

15/03/2013

Date of A/C Laid At Last AGM

:

30/09/2012
 

 

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

Company

 

SEP 2012

% Change

SEP 2011

SEP 2010

SEP 2009

SEP 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

9,494,248,723

24.70

7,613,705,154

5,567,427,335

4,094,966,993

4,355,249,993

Profit/(Loss) Before Tax

5,995,231

NA

(4,828,751)

(12,664,041)

31,411,936

224,457,752

Profit After Tax attributable

 to Shareholders

5,369,972

NA

(4,587,307)

(12,031,229)

28,978,420

213,365,954

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

1,354,754,898

85.13

731,793,172

502,636,472

456,008,273

522,432,723

Current Assets

1,334,896,847

87.71

711,139,701

482,632,336

449,780,446

520,363,824

Non Current Assets

19,858,051

-3.85

20,653,471

20,004,136

6,227,827

2,068,899

 

 

 

 

 

 

 

Total Liabilities

1,196,547,474

106.67

578,955,721

329,740,435

148,427,156

257,210,478

Current Liabilities

1,196,547,474

106.67

578,955,721

329,740,435

148,427,156

257,210,478

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

158,207,423

3.51

152,837,452

172,896,037

307,581,117

265,222,246

Share Capital

10,164,191

0.00

10,164,191

11,163,100

11,889,863

11,318,828

Total Reserves

148,043,232

3.76

142,673,261

161,732,937

295,691,254

253,903,418

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

SEP 2012

SEP 2011

SEP 2010

SEP 2009

SEP 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

24.70

36.75

35.96

-5.98

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.06

-0.06

-0.22

0.71

4.90

Return on Equity (%)

3.39

-3.00

-6.96

9.42

80.45

Return on Assets (%)

0.40

-0.63

-2.39

6.35

40.84

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

7.56

3.79

1.91

0.48

0.97

Current Debt/Equity (Times)

7.56

3.79

1.91

0.48

0.97

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

8.56

4.79

2.91

1.48

1.97

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

7.01

10.40

11.08

8.98

8.34

Fixed Assets Turnover (Times)

478.11

368.64

278.31

657.53

2,105.11

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.12

1.23

1.46

3.03

2.02

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

The company's CAGR is 21.51% (4 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 0.06 per cent in FY12. 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 1.12 times in FY12 (FY11: 1.23 times). This means that the company has SGD - SIN 1.12 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 7.56 times in FY12, as compared with 3.79 times in FY11. This means that the company requires additional external financing of SGD - SIN 7.56 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 3.39 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 0.40 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 7.01 times in FY12 (FY11: 10.40 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.55.99

UK Pound

1

Rs.84.19

Euro

1

Rs.71.86

 

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%)

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.