|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
RIO TINTO MINERALS ASIA PTE. LTD. |
|
|
|
|
Formerly Known As : |
BORAX ASIA PTE LTD |
|
|
|
|
Registered Office : |
12, Marina Boulevard, 20-01, Marina Bay Financial Centre, 018982, |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.12.1970 |
|
|
|
|
Com. Reg. No.: |
197001181-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the activities of head
and regional head offices |
|
|
|
|
No. of Employees : |
300 [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 : |
Good |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
|
REGISTRATION NO. |
: |
197001181-R |
|
COMPANY NAME |
: |
RIO TINTO MINERALS ASIA PTE. LTD. |
|
FORMER NAME |
: |
BORAX ASIA PTE LTD
(22/09/2006) |
|
INCORPORATION DATE |
: |
22/12/1970 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
12, MARINA BOULEVARD, 20-01, MARINA BAY FINANCIAL CENTRE, 018982, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
12 MARINABOULEVARD 20-01 MARINA BAY FINANCIAL CENTRE TOWER 3, 018982, SINGAPORE. |
|
TEL.NO. |
: |
65-66799000 |
|
FAX.NO. |
: |
65-66799300 |
|
CONTACT PERSON |
: |
TAKASHI KAWADA ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
ACTIVITIES OF HEAD AND REGIONAL HEAD OFFICES |
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY
SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
USD 257,660,139 [2013] |
|
NET WORTH |
: |
USD 32,823,923 [2013] |
|
STAFF STRENGTH |
: |
300 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
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) activities of head and regional head offices.
The immediate holding company of the Subject is RIO TINTO SINGAPORE HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
24/10/2014 |
SGD 100,000.00 & USD 5,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
RIO TINTO SINGAPORE HOLDINGS PTE. LTD. |
12, MARINA BOULEVARD, 20-01, MARINA BAY FINANCIAL CENTRE, 018982, SINGAPORE. |
200517548Z |
5,100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,100,000.00 |
100.00 |
|||
|
============ |
===== |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
PETER JAMES HENDERSON |
|
Address |
: |
4, BALMORAL CRESCENT, 06-01, GOODWOOD GARDENS, 259889, SINGAPORE. |
|
IC / PP No |
: |
G0463869M |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
30/08/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
MICHAEL THOMAS LE PAGE |
|
Address |
: |
118, SOUTH GARFIELD STREET, CHERRY CREEK, DENVER, COLORADO, 80209, UNITED STATES. |
|
IC / PP No |
: |
E3087487 |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
30/11/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
TAKASHI KAWADA |
|
Address |
: |
25, ANDERSON ROAD, 08-02, AVALON, 259986, SINGAPORE. |
|
IC / PP No |
: |
S7362215H |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
30/08/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
MARSHALL BRUCE SNYDER |
|
Address |
: |
8051, E. MAPLEWOOD AVENUE, BUILDING 4, DENVER, COLORADO, 80111, UNITED STATES. |
|
IC / PP No |
: |
469663109 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
20/08/2012 |
DIRECTOR 5
|
Name Of Subject |
: |
CLAYTON SIMON PATRICK FARRY |
|
Address |
: |
40, NASSIM HILL, 09-42, NASSIM MANSION, 258474, SINGAPORE. |
|
IC / PP No |
: |
G6279373U |
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
30/08/2013 |
|
1) |
Name of Subject |
: |
TAKASHI KAWADA |
|
Position |
: |
DIRECTOR |
|
|
AUDITOR |
|
Auditor |
: |
PRICEWATER HOUSECOOP ERS LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
OOI BEE LYNN |
|
IC / PP No |
: |
G5385093L |
|
|
Address |
: |
69, TELOK BLANGAH HEIGHTS, 02-273, 100069, SINGAPORE. |
|
No Banker found in our databank.
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 is a service provider.
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Services |
: |
ACTIVITIES OF HEAD AND REGIONAL HEAD OFFICES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
300 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) activities of head and
regional head offices.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-66799000 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
12 MARINABOULEVARD 20-01 MARINA BAY FINANCIAL CENTRE TOWER 3 SINGAPORE |
|
Current Address |
: |
12 MARINABOULEVARD 20-01 MARINA BAY FINANCIAL CENTRE TOWER 3, 018982, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject's registered office and she only
provided limited information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
23.87% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
24.94% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing and new market players.The Subject's profit fell sharply because of the high operating costs incurred. The Subject's management had generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.69 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.89 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest during the year. 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 recorded lower profits as its turnover showed a erratic trend. The Subject's management was unable to control its costs efficiently as its profit showed a downward trend. 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. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. 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 |
||||||
|
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 : |
ECONOMY |
|
According to Ministry of Trade and Industry (MTI), the Singapore economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global economy is likely to remain subdued despite macroeconomic conditions stablising in recent months of 2013. |
|
|
However, the global economic outlook is still clouded with uncertainties. Notably, concerns remain over the extent of the fiscal cutback with the budget sequester in the US and potential flareup of the debt crisis in the Eurozone. Should any of these risks materialise, Singapore's economic growth could come in lower than expected. |
|
|
Although resilient domestic demand in emerging Asia will provide some support to global demand, it will not fully mitigate the effects of an economic slowdown in the advanced economies. Consequently, Singapore's externally-oriented sectors such as electronics and wholesale trade will continue to perform poorly, while the financial services sector will be affected by heightened uncertainties in the external environment. Nevertheless, there will be some modest support to growth from the biomedical manufacturing cluster and tourism-related sectors. The former will likely see increased production of active pharmaceutical ingredients and biologics while the latter will benefit from rising visitor arrivals from the region. |
|
|
For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from 5.2% in 2011, mainly due to weakness in the externally-oriented sectors. Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to 0.1%. The hudge decline was largely due to a rebound in the output of the biomedical manufacturing and transport engineering clusters, which together helped to mitigate part of the fall in output in the electronics cluster. By contrast, the construction sector growth accelerated from 6.3% to 8.2% in 2012, due to the expansion in both public and private building activities. |
|
|
Growth in the services producing industries also moderated to 1.2% in 2012, compared to 4.6% in 2011. This was mainly due to the slowdown in wholesale and retail trade, accommodation and food services as well as other services industries. In particular, the wholesale and retail trade sector contracted by 0.7%, compared to the 1.6% growth in year 2011. The accommodation and food services as well as other services industries posted lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011. |
|
|
For the whole of 2012, all sectors, except the wholesale and retail trade, contributed to growth. Business services was the largest contributor with 0.4 percentage-points, followed by construction with 0.3 percentage-points and transportation and storage at 0.2 percentagepoints. Besides, growth in total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand was the key contributor to total demand growth, accounting for 2.2 percentage-points, or over 90 per cent, of the increase. |
|
|
In 2012, total domestic demand rose by 9.7%, following the 6.5% increase in 2011. The growth in total domestic demand was broad-based across consumption, gross fixed capital formation (GFCF) and changes in inventories. The total consumption expenditure in 2012 grew slightly by 0.9%, easing from the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%, reversing the 0.5% growth in 2011. Private consumption expenditure registered a 2.2% gain, moderating from the 4.6% increase in the preceding year. |
|
|
Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
RIO TINTO MINERALS ASIA PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
|
TURNOVER |
257,660,139 |
246,408,353 |
327,179,955 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
257,660,139 |
246,408,353 |
327,179,955 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
8,186,969 |
14,193,417 |
18,514,370 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
8,186,969 |
14,193,417 |
18,514,370 |
|
Taxation |
(351,614) |
(768,733) |
(982,612) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
7,835,355 |
13,424,684 |
17,531,758 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
19,923,392 |
23,192,884 |
5,661,126 |
|
Prior year adjustment |
- |
1,305,824 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,923,392 |
24,498,708 |
5,661,126 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
27,758,747 |
37,923,392 |
23,192,884 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(18,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
27,758,747 |
19,923,392 |
23,192,884 |
|
============= |
============= |
============= |
|
|
RIO TINTO MINERALS ASIA PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
77,660 |
42,084 |
202,537 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
77,660 |
42,084 |
202,537 |
|
Stocks |
7,316,742 |
2,829,614 |
- |
|
Trade debtors |
37,168,336 |
33,168,594 |
- |
|
Other debtors, deposits & prepayments |
14,844 |
601,782 |
- |
|
Amount due from related companies |
19,264,333 |
2,759,513 |
- |
|
Cash & bank balances |
5,978,469 |
4,739,685 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
69,742,724 |
44,099,188 |
58,931,408 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
69,820,384 |
44,141,272 |
59,133,945 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
1,432,725 |
- |
- |
|
Other creditors & accruals |
4,399,959 |
2,880,975 |
- |
|
Amounts owing to related companies |
30,805,441 |
15,470,419 |
- |
|
Provision for taxation |
358,336 |
801,310 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
36,996,461 |
19,152,704 |
29,570,061 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
32,746,263 |
24,946,484 |
29,361,347 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
32,823,923 |
24,988,568 |
29,563,884 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
5,065,176 |
5,065,176 |
6,371,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,065,176 |
5,065,176 |
6,371,000 |
|
Retained profit/(loss) carried forward |
27,758,747 |
19,923,392 |
23,192,884 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
27,758,747 |
19,923,392 |
23,192,884 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
32,823,923 |
24,988,568 |
29,563,884 |
|
---------------- |
---------------- |
---------------- |
|
|
32,823,923 |
24,988,568 |
29,563,884 |
|
|
============= |
============= |
============= |
|
|
RIO TINTO MINERALS ASIA PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
5,978,469 |
4,739,685 |
- |
|
Net Liquid Funds |
5,978,469 |
4,739,685 |
- |
|
Net Liquid Assets |
25,429,521 |
22,116,870 |
29,361,347 |
|
Net Current Assets/(Liabilities) |
32,746,263 |
24,946,484 |
29,361,347 |
|
Net Tangible Assets |
32,823,923 |
24,988,568 |
29,563,884 |
|
Net Monetary Assets |
25,429,521 |
22,116,870 |
29,361,347 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
36,996,461 |
19,152,704 |
29,570,061 |
|
Total Assets |
69,820,384 |
44,141,272 |
59,133,945 |
|
Net Assets |
32,823,923 |
24,988,568 |
29,563,884 |
|
Net Assets Backing |
32,823,923 |
24,988,568 |
29,563,884 |
|
Shareholders' Funds |
32,823,923 |
24,988,568 |
29,563,884 |
|
Total Share Capital |
5,065,176 |
5,065,176 |
6,371,000 |
|
Total Reserves |
27,758,747 |
19,923,392 |
23,192,884 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.16 |
0.25 |
- |
|
Liquid Ratio |
1.69 |
2.15 |
- |
|
Current Ratio |
1.89 |
2.30 |
1.99 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
10 |
4 |
- |
|
Debtors Ratio |
53 |
49 |
- |
|
Creditors Ratio |
2 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
1.13 |
0.77 |
1.00 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
|
Assets Backing Ratio |
6.48 |
4.93 |
4.64 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
3.18 |
5.76 |
5.66 |
|
Net Profit Margin |
3.04 |
5.45 |
5.36 |
|
Return On Net Assets |
24.94 |
56.80 |
62.62 |
|
Return On Capital Employed |
24.94 |
56.80 |
62.62 |
|
Return On Shareholders' Funds/Equity |
23.87 |
53.72 |
59.30 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
1.34 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.22 |
|
|
1 |
Rs.98.52 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.