MIRA INFORM REPORT

 

 

Report Date :

13.12.2014

 

IDENTIFICATION DETAILS

 

Name :

LOUIS DREYFUS COMMODITIES FREIGHT ASIA PTE. LTD.

 

 

Registered Office :

12, Marina Boulevard, 33-03, Marina Bay Financial Centre, 018982

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

25.05.2012

 

 

Com. Reg. No.:

201212970-C

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Subject is engaged in the manufacture of agriculture goods.

 

 

No of Employees :

200 [2014]

 

 

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 :

No Complaints

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, 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. 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

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

201212970-C

COMPANY NAME

:

LOUIS DREYFUS COMMODITIES FREIGHT ASIA PTE. LTD.

FORMER NAME

:

FGV LDC TRADING PTE. LTD. (11/12/2012)

INCORPORATION DATE

:

25/05/2012

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

12, MARINA BOULEVARD, 33-03, MARINA BAY FINANCIAL CENTRE, 018982, SINGAPORE.

BUSINESS ADDRESS

:

12, MARINE BOULEVARD, MARINA BAY FINANCIAL CENTRE, TOWER 3, UNIT 33-03, 018982, SINGAPORE.

TEL.NO.

:

65-67359700

FAX.NO.

:

N/A

CONTACT PERSON

:

SERGE SCHOEN ( EXECUTIVE CHAIRMAN )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

MANUFACTURE OF AGRICULTURE GOODS

 

 

 

ISSUED AND PAID UP CAPITAL

:

2,000,100.00 ORDINARY SHARE, OF A VALUE OF USD 2,000,100.00 

 

 

 

SALES

:

USD 248,865,285 [2013]

NET WORTH

:

USD 77,758,172 [2013]

 

 

 

STAFF STRENGTH

:

200 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

GOOD

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MATURE

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The Subject is principally engaged in the (as a / as an) manufacture of agriculture goods.

 

The immediate holding company of the Subject is LOUIS DREYFUS COMMODITIES B.V, a company incorporated in SINGAPORE.

 

The ultimate holding company of the Subject is LOUIS DREYFUS HOLDING B.V, a company incorporated in SINGAPORE.

 

Share Capital History

Date

Issue & Paid Up Capital

11/12/2014

USD 2,000,100.00

 

The major shareholder(s) of the Subject are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

LOUIS DREYFUS COMMODITIES ASIA PTE. LTD.

12, MARINA BOULEVARD, 33-03, MARINA BAY FINANCIAL CENTRE, 018982, SINGAPORE.

199306551Z

2,000,100.00

100.00

 

 

 

---------------

------

 

 

 

2,000,100.00

100.00

 

 

 

============

=====

 

+ Also Director

 

DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

MR. ROHIT AGGARWAL

Address

:

4, WILBY ROAD, BRIZAY PARK, 276294, SINGAPORE.

IC / PP No

:

G6286481N

 

 

 

 

 

 

 

 

 

Nationality

:

INDIAN

Date of Appointment

:

01/03/2013

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

TIRUMALAI ANANDAM PILLAI KISHEN

Address

:

63, PATERSON ROAD, 09-03, THE PATERSON, 238539, SINGAPORE.

IC / PP No

:

G5314015M

 

 

 

 

 

 

 

 

 

Nationality

:

INDIAN

Date of Appointment

:

16/10/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

JAMES FERNANDO O'DONAHUE

Address

:

30, MOUNT ELIZABETH, 14-32, HIGH POINT, 228519, SINGAPORE.

IC / PP No

:

G6421344Q

 

 

 

 

 

 

 

 

 

Nationality

:

BRITISH

Date of Appointment

:

21/09/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 4

 

Name Of Subject

:

SEBASTIEN LANDERRETCHE

Address

:

6, MARINA BOULEVARD, 12-22, THE SAIL @ MARINA BAY, 018985, SINGAPORE.

IC / PP No

:

G5103300R

 

 

 

 

 

 

 

 

 

Nationality

:

FRENCH

Date of Appointment

:

30/08/2014

 

 

 

 

 

 

 

 

 

 

 

 




MANAGEMENT

 

 

 

1)

Name of Subject

:

SERGE SCHOEN

 

Position

:

EXECUTIVE CHAIRMAN

 

 

 

 

 

AUDITOR

 

Auditor

:

DELOITTE & TOUCHE LLP

Auditor' Address

:

N/A

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

LOH LI PING

 

IC / PP No

:

S7625605E

 

 

 

 

 

Address

:

911, LORONG, 1, TOA PAYOH, 03-03, OLEANDER TOWERS, 319771, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank. 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

PAYMENT RECORD

 

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The Subject refused to disclose it's suppliers. 

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

 

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

X

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

MALAYSIA

Overseas

:

YES

 

 

 

Export Market

:

UNITED STATES

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Products manufactured

:

AGRICULTURE GOODS

 

 

 

 

Total Number of Employees:

YEAR

2014

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

200

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The Subject is principally engaged in the (as a / as an) manufacture of agriculture goods. 

Louis Dreyfus Commodities is a global merchandizer of commodities and processor of agricultural goods, operating a significant network of assets around the world. 

The Subject help to feed and clothe some 500 million people, originating, processing and transporting approximately 77 million tons of commodities annually. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-67359700

Match

:

N/A

 

 

 

Address Provided by Client

:

501 ORCHIRD ROAD, #19-01 WHEELOCK PLACE, SINGAPORE, 238880

Current Address

:

12, MARINE BOULEVARD, MARINA BAY FINANCIAL CENTRE, TOWER 3, UNIT 33-03, 018982, SINGAPORE.

Match

:

NO

 

 

 

 

Other Investigations


We contacted one of the staff from the Subject and she provided some information on the Subject.

The Subject had shifted from the address provided.

The Subject refused to disclose it's bankers.


FINANCIAL ANALYSIS

 

Profitability

 

 

 

 

 

 

Return on Shareholder Funds

:

Favourable

[

97.43%

]

 

Return on Net Assets

:

Favourable

[

97.61%

]

 

 

 

 

 

 

 

 

Generally the Subject was profitable. The favourable return on shareholders' funds and return on net assets indicate that the Subject's management was efficient in utilising the assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Favourable

[

36 Days

]

 

Creditors Ratio

:

Unfavourable

[

73 Days

]

 

 

 

 

 

 

 

 

As the Subject is a service oriented company, the Subject does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.85 Times

]

 

Current Ratio

:

Unfavourable

[

1.85 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Favourable

[

543.84 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

 

 

 

 

 

 

 

Overall financial condition of the Subject : STRONG

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

 

 

 

 

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

 

 

 

 

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

 

 

 

 

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

 

 

 

 

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

 

 

 

 

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

 

 

 

 

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

 

 

 

 

 

* Based on Index of Industrial Production (2011 = 100)

 

 

 

 

 



INDUSTRY ANALYSIS

 

INDUSTRY :

MANUFACTURING

 

 

 

In the third quarter of 2014, manufacturing output has increased by 1.9%, extending the 1.5% growth in the previous quarter. Growth was largely driven by the biomedical manufacturing and chemicals clusters. Besides, for the whole 2013, the manufacturing sector grew by 1.7%, an uptick from the 0.3% growth recorded in the previous year. All clusters recorded an expansion in 2013, except the biomedical manufacturing cluster.

 

The chemicals cluster grew by 5.2% in the third quarter of 2014. Growth was led by the petrochemicals and specialty chemicals segments, which expanded by 8.9% and 7.1% respectively. By contrast, the petroleum segment contracted by 4.2% in the third quarter of 2014 due to plant maintenance shutdowns. For the year of 2013, the chemicals cluster grew only by 0.7%.

 

Besides, output of the biomedical manufacturing cluster expanded by 9.0% in the third quarter of 2014. The medical technology segment posted robust growth of 23% due to higher production of medical instruments and supplies, while the output of the pharmaceuticals segment rose by 6.2%. However, in the whole of 2013, the biomedical manufacturing cluster recorded only a flat growth.

 

In the third quarter of 2014, the transport engineering cluster contracted by 2.0%, dragged down by the aerospace segment. Output in the aerospace segment plunged by 18% on the back of fewer repair jobs from commercial airlines. This was mitigated by the 4.1% growth in the marine & offshore engineering segment, which was supported by higher contributions from rig building projects. Nonetheless, for the whole of 2013, the transport engineering cluster grew by 5.2%.

 

Moreover, output of the precision engineering cluster increased by 1.3% in the third quarter of 2014. The machinery & systems segment grew by 6.2%, supported by higher demand for semiconductor-related equipment and mechanical engineering work. This was partly offset by the decline in the output of the precision modules & components segment. Conversely, in the full year of 2013, the precision engineering cluster's output declined by 5.6%.

 

Furthermore, in the third quarter of 2014, output of the general manufacturing industries declined by 3.0%. The 2.1% growth in the food, beverages & tobacco segment was more than offset by declines in the other two segments. In particular, the miscellaneous industries segment contracted by 4.7% on the back of lower output in construction-related products, such as concrete & cement products and steel structural components. For the full year of 2013, the general manufacturing cluster grew by 2.8%.

 

Besides, in the third quarter of 2014, the electronics cluster expanded by 0.9%, reversing the 5.0% contraction in the previous quarter. Growth was supported by an expansion in the computer peripherals (6.3%) and data storage (2.6%) segments. Moreover, for the year 2013, the electronics cluster expanded by 3.5%.

 

 

OVERALL INDUSTRY OUTLOOK : MATURE



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2012, the Subject is a Private Limited company, focusing on manufacture of agriculture goods. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. A paid up capital of USD 2,000,100 allows the Subject to expand its business more comfortably. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise. 

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. The Subject is a fairly large and rapidly growing company with over 200 staff in its operations The Subject has a good  management capability. Its capable management team has enabled the Subject to keep its business on going. Hence, the future prospect of the Subject is bright. 

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at SGD 77,758,172, the Subject should be able to maintain its business in the near terms. 

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts. 

The industry has reached its optimum level and is generally stable. It is saturated and very competitive. Thus, the Subject's growth prospect is very much depends on its capacity in sustaining its performance in the market. 

Based on the above condition, we recommend credit be granted to the Subject promptly.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

LOUIS DREYFUS COMMODITIES FREIGHT ASIA PTE. LTD.

 

Financial Year End

2013-12-31

2012-12-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

 

 

 

TURNOVER

248,865,285

-

Other Income

(461,162)

-

 

----------------

----------------

Total Turnover

248,404,123

-

Costs of Goods Sold

(170,707,544)

-

 

----------------

----------------

Gross Profit

77,696,579

-

 

----------------

----------------

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

75,758,072

-

 

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

75,758,072

-

 

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

75,758,072

-

 

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

75,758,072

-

 

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

75,758,072

-

 

=============

-

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Others

139,558

-

 

----------------

----------------

 

139,558

-

 

=============

 

 

BALANCE SHEET

 

 

LOUIS DREYFUS COMMODITIES FREIGHT ASIA PTE. LTD.

 

Trade debtors

24,221,576

100

Other debtors, deposits & prepayments

33,450,097

-

Amount due from holding company

75,764,312

-

Cash & bank balances

8,665,286

-

Others

26,680,116

-

 

----------------

----------------

TOTAL CURRENT ASSETS

168,781,387

100

 

----------------

----------------

TOTAL ASSET

168,781,387

100

 

=============

=============

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

34,254,171

-

Other creditors & accruals

49,351,219

-

Other liabilities & accruals

7,417,825

-

 

----------------

----------------

TOTAL CURRENT LIABILITIES

91,023,215

-

 

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

77,758,172

100

 

----------------

----------------

TOTAL NET ASSETS

77,758,172

100

 

=============

=============

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

2,000,100

100

 

----------------

----------------

TOTAL SHARE CAPITAL

2,000,100

100

 

 

 

Retained profit/(loss) carried forward

75,758,072

-

 

----------------

----------------

TOTAL RESERVES

75,758,072

-

 

 

 

 

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

77,758,172

100

 

 

 

 

----------------

----------------

 

77,758,172

100

 

=============

=============

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

LOUIS DREYFUS COMMODITIES FREIGHT ASIA PTE. LTD.

 

TYPES OF FUNDS

 

 

Cash

8,665,286

0

Net Liquid Funds

8,665,286

0

Net Liquid Assets

77,758,172

100

Net Current Assets/(Liabilities)

77,758,172

100

Net Tangible Assets

77,758,172

100

Net Monetary Assets

77,758,172

100

BALANCE SHEET ITEMS

 

 

Total Borrowings

0

0

Total Liabilities

91,023,215

0

Total Assets

168,781,387

100

Net Assets

77,758,172

100

Net Assets Backing

77,758,172

100

Shareholders' Funds

77,758,172

100

Total Share Capital

2,000,100

100

Total Reserves

75,758,072

0

LIQUIDITY (Times)

 

 

Cash Ratio

0.10

0.00

Liquid Ratio

1.85

0.00

Current Ratio

1.85

0.00

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

0

0

Debtors Ratio

36

0

Creditors Ratio

73

0

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0.00

0.00

Liabilities Ratio

1.17

0.00

Times Interest Earned Ratio

543.84

0.00

Assets Backing Ratio

38.88

1.00

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

30.44

0.00

Net Profit Margin

30.44

0.00

Return On Net Assets

97.61

0.00

Return On Capital Employed

97.61

0.00

Return On Shareholders' Funds/Equity

97.43

0.00

Dividend Pay Out Ratio (Times)

0.00

0.00

NOTES TO ACCOUNTS

 

 

Contingent Liabilities

0

0



 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.98.15

Euro

1

Rs.77.38

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

 

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.