MIRA INFORM REPORT

Report Date :

03.09.2013

IDENTIFICATION DETAILS

Name :	BHP BILLITON MARKETING AG (SINGAPORE BRANCH)
Registered Office :	10 Marina Boulevard #50-01 Marina Bay Financial Centre Singapore 018983
Country :	Singapore
Financials (as on) :	June 2012
Date of Incorporation :	28.04.2005
Com. Reg. No.:	T05FC6681H
Legal Form :	Foreign Company Registered In Singapore
Line of Business :	Marketing & Trading of products, commodities and derivates of all kinds
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 :	Good
Payment Behaviour :	Regular
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:
BHP BILLITON MARKETING AG (SINGAPORE BRANCH)	T05FC6681H

Date Incorporated:	Registered Office:	Telephone Number:
28/04/2005	10 MARINA BOULEVARD #50-01 MARINA BAY FINANCIAL CENTRE SINGAPORE 018983	NA
Age of Company:	Website:	Industry Type:
8	NA	FINANCE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		1
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
24

Directors		Corporate Structure
Number of Current Directors	7	Holding Company:	NA
Number that are shareholders	NA	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	BHP BILLITON MARKETING AG (SINGAPORE BRANCH)
Registration No	:	T05FC6681H
Date of Registration	:	28/04/2005
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	FOREIGN COMPANY REGISTERED IN SINGAPORE
Registered Address	:	10 MARINA BOULEVARD #50-01 MARINA BAY FINANCIAL CENTRE SINGAPORE 018983
Date of Change of Address	:	30/04/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	OTHER BUSINESS SUPPORT SERVICES ACTIVITIES NEC (EG ADMINISTRATION OF LOYALTY PROGRAMMES) MARKETING & TRADING OF PRODUCTS, COMMODITIES AND DERIVATES OF ALL KINDS
Issued Ordinary Capital*	:	NA
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	NA
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	:	NA
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 42,261,366,874.00 (FY2012)
Net Worth	:	SGD - SIN 498,799,160.00 (FY2012)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	1
S1000 / SME 1000 / FG50 Ranking	:	No found for SINGAPORE 1000 and SME 1000
Compounded Annual Growth Rate (CAGR)	:	8.98% (4 years)

SHAREHOLDER DETAILS

No Trace

OFFICER DETAILS

NAME	:	TERENCE G.M. BRIANT
ADDRESS	:	METALLSTRASSE 8 6300 ZUG, SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	23/03/2000
NATIONALITY	:	BRITISH
I/C PASSPORT	:	761019753
NAME	:	HANS WILLE
ADDRESS	:	ALFRED-ULRICH-STRASSE 8, CH 8702 ZOLLIKON SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	15/12/2000
NATIONALITY	:	SWISS
I/C PASSPORT	:	F0453971
NAME	:	ROLF MUELLER
ADDRESS	:	REBENWEG 24A, CH 6331 HUNENBERG SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	15/04/2002
NATIONALITY	:	SWISS
I/C PASSPORT	:	F1296856
NAME	:	MARTIN A. SCHERER
ADDRESS	:	ALTE LANDSTRASSE 99, CH 8800 THALWIL SWITZERLAND
POSITION	:	DIRECTOR
DATE OF APPT	:	21/02/2005
NATIONALITY	:	SWISS
I/C PASSPORT	:	F1592421
NAME	:	PETER HEALY FINNIMORE
ADDRESS	:	9 ARDMORE PARK #08-02 ARDMORE PARK SINGAPORE 259955
POSITION	:	DIRECTOR
DATE OF APPT	:	05/02/2009
NATIONALITY	:	AUSTRALIAN
I/C PASSPORT	:	G0462589M
NAME	:	PIETER LE ROUX
ADDRESS	:	64 MERRYN ROAD DUNEARN ESTATE SINGAPORE 298512
POSITION	:	AGENT DIRECTOR
DATE OF APPT	:	08/05/2008 28/07/2011
NATIONALITY	:	SOUTH AFRICAN
I/C PASSPORT	:	G5912770K
NAME	:	DAVID GRANT MARTIN
ADDRESS	:	1H LYNWOOD GROVE ONE LYNWOOD SINGAPORE 358682
POSITION	:	AGENT
DATE OF APPT	:	30/09/2010
NATIONALITY	:	AUSTRALIAN
I/C PASSPORT	:	G6036830P

OFFICER DETAILS

NAME	:	MICHAEL PARRISH HENRY
ADDRESS	:	2 LEONIE HILL ROAD #17-04 LEONIE CONDOTEL SINGAPORE 239192
POSITION	:	DIRECTOR
DATE OF APPT	:	18/06/2007
NATIONALITY	:	BRITISH
I/C PASSPORT	:	G6465454W

KEY PERSONNEL PROFILE

Name:	TERENCE G.M. BRIANT
NRIC Number:	761019753
Available Address:	METALLSTRASSE 8 6300 ZUG, SWITZERLAND

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BHP BILLITON FREIGHT SINGAPORE PTE. LTD.	DIRECTOR	05/07/2010	-	NA
2	BHP BILLITON MARKETING AG (SINGAPORE BRANCH)	DIRECTOR	23/03/2000	-	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 are no bank charges registered against Subject by its bankers.

LITIGATION

The following litigation suits were traced against Subject. Case status is as per available in DP Information Network Pte Ltd database. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT) offered by DP Information Network Pte Ltd.

To date, there have been 1 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)	1	0
High (>$250,000)	0	0
Winding Up Trace		No
In litigation/Dissolved/Struck Off/In receivership		No

The details are as follows:

1)	Court	:	District Court
	Case No.	:	591
	Transfer	:	-
	Date of Filing	:	22/02/2013
	Amount	:	0.00
	Cause	:	Others / Miscellaneous
	Case Status	:	PENDING
	Plaintiff	:	TMT ASIA LIMITED
	Last Update Date	:	06/03/2013

COMPLIANCE

Date of Last AGM	:	03/10/2012
Date of Last AR	:	NA
Date of A/C Laid At Last AGM	:	30/06/2012

COMPLIANCE RATING FOR ANNUAL FILING

-	NOT APPLICABLE/COMPANY STATUS IS NOT LIVE

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	Company
	JUN 2012	% Change	JUN 2011	JUN 2010	JUN 2009	JUN 2008
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	42,261,366,874	-1.60	42,946,565,401	30,015,109,806	30,137,189,949	29,959,820,979
Profit/(Loss) Before Tax	861,883,906	-27.47	1,188,244,867	757,994,865	632,233,205	586,028,609
Profit After Tax attributable to Shareholders	861,863,762	-27.46	1,188,166,301	757,923,085	632,874,440	585,360,907
Balance Sheet Key Figures
Total Assets	2,673,131,672	-17.23	3,229,399,512	3,501,721,525	2,438,172,324	5,496,939,399
Current Assets	2,656,260,376	-17.46	3,218,208,367	3,473,908,906	2,383,099,444	5,381,512,879
Non Current Assets	16,871,296	50.76	11,191,145	27,812,619	55,072,880	115,426,520
Total Liabilities	2,174,332,513	-36.84	3,442,341,673	3,476,844,847	1,749,332,851	4,318,506,850
Current Liabilities	2,165,276,828	-37.03	3,438,542,170	3,458,501,551	1,664,195,272	4,203,317,672
Non Current Liabilities	9,055,685	138.34	3,799,503	18,343,296	85,137,579	115,189,178
Shareholders' Funds	498,799,160	NA	(212,942,160)	24,876,679	688,839,474	1,178,432,548
Share Capital	0	NA	0	0	0	0
Total Reserves	498,799,160	NA	(212,942,160)	24,876,679	688,839,474	1,178,432,548

FINANCIAL RATIOS

	Company
	JUN 2012	JUN 2011	JUN 2010	JUN 2009	JUN 2008
Growth %
Year-on-Year Growth	-1.60	43.08	-0.41	0.59	NA
Profitability
Profit Margin (%)	2.04	2.77	2.53	2.10	1.95
Return on Equity (%)	172.79	-557.98	3,046.72	91.88	49.67
Return on Assets (%)	32.24	36.79	21.64	25.96	10.65
Leverage
Total Debt/Equity (Times)	4.36	-16.17	139.76	2.54	3.66
Current Debt/Equity (Times)	4.34	0.00	139.03	2.42	3.57
Long Term Debt To Equity (Times)	0.02	0.00	0.74	0.12	0.10
Total Asset To Total Equity (Times)	5.36	-15.17	140.76	3.54	4.66
Asset Management
Total Assets Turnover (Times)	15.81	13.30	8.57	12.36	5.45
Fixed Assets Turnover (Times)	2,504.93	3,837.55	1,079.19	547.22	259.56
Liquidity
Current Ratio (Times)	1.23	0.94	1.00	1.43	1.28

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 8.98% (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 2.04 per cent in FY12 (FY11: 2.77 per cent). The company is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales in FY12, as compared with SGD - SIN 0.03 a year ago.

Liquidity

Current ratio stood at 1.23 times in FY12 (FY11: 0.94 times). This means that the company has SGD - SIN 1.23 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 4.36 times in FY12. This means that the company requires additional external financing of SGD - SIN 4.36 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 172.79 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 32.24 per cent (FY11: 36.79 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 15.81 times in FY12 (FY11: 13.30 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.65.86
UK Pound	1	Rs.102.52
Euro	1	Rs.87.06

INFORMATION DETAILS

Report Prepared by :

SDA

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.

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