MIRA INFORM REPORT

Report Date :

25.09.2013

IDENTIFICATION DETAILS

Name :	TATA INTERNATIONAL SINGAPORE PTE. LIMITED
Registered Office :	22 Tanjong Kling Road Singapore 628048
Country :	Singapore
Date of Incorporation :	01.011.2011
Com. Reg. No.:	201132066R
Legal Form :	Limited Private Company
Line of Business :	General Wholesale Trade (Including General Importers And Exporters)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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:
TATA INTERNATIONAL SINGAPORE PTE. LIMITED	201132066R

Date Incorporated:	Registered Office:	Telephone Number:
01/11/2011	22 TANJONG KLING ROAD SINGAPORE 628048	NA
Age of Company:	Website:	Industry Type:
2	NA	NA

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
20
Payment pattern as per previous month		No. of Charges(s): 4
Industry DTC
36

Directors		Corporate Structure
Number of Current Directors	5	Holding Company:	TATA INTERNATIONAL LIMITED
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	TATA INTERNATIONAL SINGAPORE PTE. LIMITED
Registration No	:	201132066R
Date of Registration	:	01/11/2011
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	22 TANJONG KLING ROAD SINGAPORE 628048
Date of Change of Address	:	01/11/2011
Contact No.	:	NA
Fax No.	:	NA
Website	:	NA
Registered Activities	:	GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS) GENERAL WHOLESALE TRADE
Issued Ordinary Capital*	:	$14,100,000.00 UNITED STATES OF AMERICA, DOLLARS ,NO. OF SHARE : 14,100,000
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$14,100,000.00 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	:	DELOITTE & TOUCHE LLP
Bankers / Financiers	:	STANDARD CHARTERED BANK ICICI BANK LIMITED
Turnover	:	SGD - SIN 491,859.00 (FY2012)
Net Worth	:	SGD - SIN 70,519.00 (FY2012)
No. of Bank Charges	:	4
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	:	TATA INTERNATIONAL LIMITED
SHAREHOLDER ID	:	T12UF1693H
NATIONALITY	:	INDIA
ADDRESS	:	BLOCK A, SHIVSAGAR ESTATES, DR. ANNIE BESANT ROAD, WORLI, MUMBAI 400 018, INDIA
NO. OF ORD SHARES	:	14,100,000
% OF SHAREHOLDING	:	100%
CURRENCY	:	UNITED STATES OF AMERICA, DOLLARS

OFFICER DETAILS

NAME	:		ANIRUDDHA BANERJEE
ADDRESS	:		75 MEYER ROAD #10-01 HAWAII TOWER SINGAPORE 437901
POSITION	:		DIRECTOR
DATE OF APPT	:		01/11/2011
NATIONALITY	:		INDIAN
I/C PASSPORT	:		G5803929U
NAME		:		ARUN KUMAR VORA
ADDRESS		:		S-2, 2ND FLOOR, ORCHID APARTMENTS, 161, 5TH MAIN, DEFENCE COLONY, INDIRANAGAR, BANGALORE 560 038, INDIA
POSITION		:		DIRECTOR
DATE OF APPT		:		25/09/2012
NATIONALITY		:		INDIAN
I/C PASSPORT		:		G8038934
NAME		:		AJAY MURLIDHAR PONKSHE
ADDRESS		:		3, YASHODHAN, SAHAYOG MANDIR ROAD, NAUPADA, THANE- 400602
POSITION		:		DIRECTOR
DATE OF APPT		:		01/11/2011
NATIONALITY		:		INDIAN
I/C PASSPORT		:		H8165619
NAME		:		NOEL TATA
ADDRESS		:		WINDMERE, 5TH FLOOR, CUFFE PARADE, COLABA, MUMBAI 400 005, INDIA
POSITION		:		DIRECTOR
DATE OF APPT		:		25/09/2012
NATIONALITY		:		IRISH
I/C PASSPORT		:		LT0076205
NAME		:		TAY TUAN LENG
ADDRESS		:		635 PASIR RIS DRIVE 1 #11-600 SINGAPORE 510635
POSITION		:		SECRETARY
DATE OF APPT		:		18/12/2012
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		:		18/12/2012
NATIONALITY		:		SINGAPORE CITIZEN
I/C PASSPORT		:		S7927166G
NAME		:		RAVINDRA PISHARODY
ADDRESS		:		9, BLDG 1, HILL PARK ESTATE, AG BELL RD, MUMBAI 400 006, INDIA
POSITION		:		DIRECTOR
DATE OF APPT		:		25/09/2012
NATIONALITY		:		INDIAN
I/C PASSPORT		:		Z2340297

KEY PERSONNEL PROFILE

Name:	ANIRUDDHA BANERJEE
NRIC Number:	G5803929U
Available Address:	75 MEYER ROAD #10-01 HAWAII TOWER SINGAPORE 437901

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	ABJA INVESTMENT CO. PTE. LTD.	DIRECTOR	12/04/2013	-	-
2	NATSTEEL ASIA (S) PTE. LTD.	DIRECTOR	15/03/2008	-	-
3	NATSTEEL EQUITY IV PTE LTD	DIRECTOR	15/03/2008	-	-
4	NATSTEEL RECYCLING PTE. LTD.	DIRECTOR	18/02/2009	-	-
5	NATSTEEL TRADE INTERNATIONAL PTE LTD	DIRECTOR	18/02/2009	-	-
6	PROCO ISSUER PTE. LTD.	DIRECTOR	08/09/2010	-	-
7	TATA INTERNATIONAL SINGAPORE PTE. LIMITED	DIRECTOR	01/11/2011	-	-
8	TATA STEEL GLOBAL HOLDINGS PTE. LTD.	DIRECTOR	07/10/2010	-	-
9	TATA STEEL GLOBAL MINERALS HOLDINGS PTE. LTD.	DIRECTOR	09/11/2007	-	-
10	TATA STEEL GLOBAL PROCUREMENT COMPANY PTE. LTD.	DIRECTOR	23/04/2010	-	-
11	TATA STEEL HOLDINGS PTE. LTD.	DIRECTOR	07/10/2010	-	-
12	TATA STEEL INTERNATIONAL (SINGAPORE) HOLDINGS PTE. LTD.	DIRECTOR	02/05/2008	-	-
13	TATA STEEL INTERNATIONAL (SINGAPORE) PTE. LTD.	DIRECTOR	05/09/2008	-	-
14	TRL ASIA PRIVATE LIMITED	DIRECTOR	02/11/2005	-	-

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	TATA STEEL GLOBAL MINERALS HOLDINGS PTE. LTD.	LIVE COMPANY	SHAREHOLDER	-	20/05/2013

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

1)	Charge No.		:		C201303322
	Date of Registration		:		01/03/2013
	Chargee		:		STANDARD CHARTERED BANK
	Amount Secured and Currency		:		All Monies
	Address		:		---
2)		Charge No.		:		C201300999
		Date of Registration		:		18/01/2013
		Chargee		:		STANDARD CHARTERED BANK
		Amount Secured and Currency		:		All Monies
		Address		:		---
3)		Charge No.		:		C201300973
		Date of Registration		:		18/01/2013
		Chargee		:		STANDARD CHARTERED BANK
		Amount Secured and Currency		:		All Monies
		Address		:		---
4)		Charge No.		:		C201213345
		Date of Registration		:		19/11/2012
		Chargee		:		ICICI BANK LIMITED
		Amount Secured and Currency		:		All Monies
		Address		:		---

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	19/07/2012
Date of Last AR	:	31/07/2012
Date of A/C Laid At Last AGM	:	31/03/2012

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	Company
	01/11/2011 To 31/03/2012
Currency	SGD-SIN
Profit and Loss Key Figures
Turnover	491,859
Profit/(Loss) Before Tax	(56,795)
Profit After Tax attributable to Shareholders	(56,795)
Balance Sheet Key Figures
Total Assets	152,047
Current Assets	152,047
Non Current Assets	0
Total Liabilities	81,528
Current Liabilities	81,528
Non Current Liabilities	0
Shareholders' Funds	70,519
Share Capital	127,314
Total Reserves	(56,795)

FINANCIAL RATIOS

	Company
	01/11/2011 To 31/03/2012
Growth %
Year-on-Year Growth	NA
Profitability
Profit Margin (%)	-11.55
Return on Equity (%)	-80.54
Return on Assets (%)	-37.35
Leverage
Total Debt/Equity (Times)	1.16
Current Debt/Equity (Times)	1.16
Long Term Debt To Equity (Times)	0.00
Total Asset To Total Equity (Times)	2.16
Asset Management
Total Assets Turnover (Times)	3.23
Fixed Assets Turnover (Times)	0.00
Liquidity
Current Ratio (Times)	1.86

FINANCIAL COMMENTARY

Profitability

We are unable to comment on Subject's profitability.

Liquidity

Current ratio stood at 1.86 times in FY12. This means that the company has SGD - SIN 1.87 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 1.16 times in FY12. This means that the company requires additional external financing of SGD - SIN 1.16 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

We are unable to comment on Subject's return on equity.

We are unable to comment on Subject's return on assets.

Total assets turnover ratio logged at 3.23 times in FY12. 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.62.66
UK Pound	1	Rs.100.46
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

NIS

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.

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