|
Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known As : |
RIO TINTO ALCAN PTE. LTD |
|
|
|
|
Registered Office : |
12, Marina Boulevard, 20-01 Marina Bay Financial Centre, 018982 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.08.2005 |
|
|
|
|
Com. Reg. No.: |
200511942-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Commodities & Metals and Metal Ores |
|
|
|
|
No. of Employees : |
45 |
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 – 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. |
: |
200511942-N |
|
COMPANY NAME |
: |
RIO TINTO MARKETING PTE. LTD. |
|
FORMER NAME |
: |
RIO TINTO ALCAN PTE. LTD.
(13/08/2013) |
|
INCORPORATION DATE |
: |
29/08/2005 |
|
|
|
|
|
|
|
|
|
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, MARINA BOULEVARD, MARINA BAY FINANCIAL CENTRE TOWER 3,
20-01, 018982, SINGAPORE. |
|
TEL.NO. |
: |
65-66799000 |
|
FAX.NO. |
: |
65-66799300 |
|
WEB SITE |
: |
WWW.RIOTINTO.COM |
|
CONTACT PERSON |
: |
CLAYTON SIMON PATRICK FARRY ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF COMMODITIES & METALS AND METAL ORES |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
150,000,000.00 ORDINARY SHARE, OF A VALUE OF USD
150,000,000.00 |
|
|
|
|
|
SALES |
: |
USD 6,679,239,000 [2012] |
|
NET WORTH |
: |
USD 503,329,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
45 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
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)
wholesale of commodities & metals and metal ores.
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 |
|
19/09/2014 |
USD 150,000,000.00 & SGD 1.00 |
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 |
150,000,001.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
150,000,001.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SCOTT LAWRENCE SINGER |
|
Address |
: |
18, MARINA BOULEVARD, 35-10, MARINA BAY RESIDENCES,
018980, SINGAPORE. |
|
IC / PP No |
: |
G5269782X |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
08/10/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. CLAYTON SIMON PATRICK FARRY |
|
Address |
: |
40, NASSIM HILL, 09-42, NASSIM MANSION, 258474, SINGAPORE. |
|
IC / PP No |
: |
G6279373U |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
09/10/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
PHILIPPE BOURDAGES |
|
Address |
: |
263, BUKIT TIMAH ROAD 01-18, GOODWOOD RESIDENCE, 259704,
SINGAPORE. |
|
IC / PP No |
: |
G3034101K |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
17/06/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
CLARK MATTHEW BEYER |
|
Address |
: |
86, HAMILTON TERRACE, FLAT E LONDON NW8 9UL, UNITED
KINGDOM. |
|
IC / PP No |
: |
488075256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
17/03/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
RHODRI JAMES HARRIES |
|
Address |
: |
575, AVENUE ROSLYN WESTMOUNT, QC H3Y 2T7, CANADA. |
|
IC / PP No |
: |
BA741891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CANADIAN |
|
Date of Appointment |
: |
03/04/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject |
: |
SIMON PELLETIER |
|
Address |
: |
176, CURE RABEAN ST LAMBERT QUEBEC, J4R2V8, CANADA. |
|
IC / PP No |
: |
BA742238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CANADIAN |
|
Date of Appointment |
: |
17/06/2014 |
|
|
|
|
|
1) |
Name of Subject |
: |
CLAYTON SIMON PATRICK FARRY |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
OOI BEE LYNN |
|
|
IC / PP No |
: |
S8086227Z |
|
|
|
|
|
|
|
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.
* 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject's registered office refused to disclose its 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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
The Subject's registered office refused to disclose its clientele information.
|
Goods Traded |
: |
COMMODITIES & METALS AND METAL ORES
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
45 |
45 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
commodities & metals and metal ores.
The Subject's registered office refused to disclose any information on its
operation.
Latest fresh investigations carried out on the Subject
indicated that :
|
Telephone Number Provided By Client |
: |
65 6679 9234 |
|
Current Telephone Number |
: |
65-66799000 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
12 MARIAN BOULEVARD #20-01 MARINA BAY FINANCIAL CENTRE,
TOWER 3, SINGAPORE 01892 |
|
Current Address |
: |
12, MARINA BOULEVARD, MARINA BAY FINANCIAL CENTRE TOWER 3,
20-01, 018982, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
We contacted one of the staff from the Subject's registered office and she
provided limited information on the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
13.29% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
26.12% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
39.19% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
41.21% |
] |
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the intense market
competition.The dip in profit could be due to the stiff market competition which
reduced the Subject's profit margin. 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 |
: |
Favourable |
[ |
2 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
36 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 |
[ |
1.68 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.72 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's performance deteriorated over the years with
lower turnover and profit. 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 |
|
|
Incorporated in 2005, the
Subject is a Private Limited company, focusing on wholesale of commodities
& metals and metal ores. Having been in business for more than 5 years,
the Subject has established a remarkable clientele base for itself which has
contributed to its business growth. Having strong support from its holding
company has enabled the Subject to remain competitive despite the challenging
business environment. The Subject is a large entity with strong capital
position. We are confident with the Subject's business and its future growth
prospect. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
RIO TINTO MARKETING PTE. LTD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
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 |
6,679,239,000 |
7,702,536,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
6,679,239,000 |
7,702,536,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
208,342,000 |
281,984,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
208,342,000 |
281,984,000 |
|
Taxation |
(11,091,000) |
(14,163,000) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
197,251,000 |
267,821,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
376,078,000 |
178,257,000 |
|
|
---------------- |
---------------- |
|
As restated |
376,078,000 |
178,257,000 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
573,329,000 |
446,078,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(220,000,000) |
(70,000,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
353,329,000 |
376,078,000 |
|
|
============= |
============= |
|
|
|
|
|
RIO TINTO MARKETING PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
634,000 |
1,023,000 |
|
|
|
|
|
Deferred assets |
- |
84,000 |
|
Others |
3,201,000 |
5,071,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,201,000 |
5,155,000 |
|
|
|
|
|
Others |
13,869,000 |
19,363,000 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
13,869,000 |
19,363,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
17,704,000 |
25,541,000 |
|
|
|
|
|
Stocks |
28,174,000 |
49,029,000 |
|
Trade debtors |
439,492,000 |
583,349,000 |
|
Other debtors, deposits & prepayments |
23,993,000 |
18,346,000 |
|
Amount due from holding company |
670,021,000 |
579,941,000 |
|
Cash & bank balances |
7,000 |
323,000 |
|
Others |
374,000 |
2,790,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,162,061,000 |
1,233,778,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
1,179,765,000 |
1,259,319,000 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
660,713,000 |
717,352,000 |
|
Other creditors & accruals |
2,615,000 |
1,997,000 |
|
Provision for taxation |
10,855,000 |
13,892,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
674,183,000 |
733,241,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
487,878,000 |
500,537,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
505,582,000 |
526,078,000 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
150,000,000 |
150,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
150,000,000 |
150,000,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
353,329,000 |
376,078,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
353,329,000 |
376,078,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
503,329,000 |
526,078,000 |
|
|
|
|
|
Deferred taxation |
7,000 |
- |
|
Others |
2,246,000 |
- |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
2,253,000 |
- |
|
|
---------------- |
---------------- |
|
|
505,582,000 |
526,078,000 |
|
|
============= |
============= |
|
|
|
|
|
RIO TINTO MARKETING PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
7,000 |
323,000 |
|
Net Liquid Funds |
7,000 |
323,000 |
|
Net Liquid Assets |
459,704,000 |
451,508,000 |
|
Net Current Assets/(Liabilities) |
487,878,000 |
500,537,000 |
|
Net Tangible Assets |
491,713,000 |
506,715,000 |
|
Net Monetary Assets |
457,451,000 |
451,508,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
676,436,000 |
733,241,000 |
|
Total Assets |
1,179,765,000 |
1,259,319,000 |
|
Net Assets |
505,582,000 |
526,078,000 |
|
Net Assets Backing |
503,329,000 |
526,078,000 |
|
Shareholders' Funds |
503,329,000 |
526,078,000 |
|
Total Share Capital |
150,000,000 |
150,000,000 |
|
Total Reserves |
353,329,000 |
376,078,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.00 |
0.00 |
|
Liquid Ratio |
1.68 |
1.62 |
|
Current Ratio |
1.72 |
1.68 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
2 |
2 |
|
Debtors Ratio |
24 |
28 |
|
Creditors Ratio |
36 |
34 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
1.34 |
1.39 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
3.28 |
3.38 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
3.12 |
3.66 |
|
Net Profit Margin |
2.95 |
3.48 |
|
Return On Net Assets |
41.21 |
53.60 |
|
Return On Capital Employed |
40.11 |
51.70 |
|
Return On Shareholders' Funds/Equity |
39.19 |
50.91 |
|
Dividend Pay Out Ratio (Times) |
1.12 |
0.26 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.