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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

493114

Report Date :

23.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

COFCO AGRI COMMODITIES PTE. LTD.

 

 

Formerly Known As :

NOBLE AGRI COMMODITIES PTE. LTD. (04/03/2016)

 

 

Registered Office :

12, Marina View, 28-01, Asia Square Tower 2, 018961

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

16.06.2015

 

 

Com. Reg. No.:

201526081H

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the trading of food products, commodity.

 

 

No. of Employees :

10 [2018]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

 

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

201526081H

COMPANY NAME

:

COFCO AGRI COMMODITIES PTE. LTD.

FORMER NAME

:

NOBLE AGRI COMMODITIES PTE. LTD. (04/03/2016)

INCORPORATION DATE

:

16/06/2015

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

12, MARINA VIEW, 28-01, ASIA SQUARE TOWER 2, 018961, SINGAPORE.

BUSINESS ADDRESS

:

12, MARINA VIEW, 28-01, ASIA SQUARE TOWER 2, 018961, SINGAPORE.

TEL.NO.

:

65-68058600

FAX.NO.

:

65-63842653

CONTACT PERSON

:

LI YEBIN ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF FOOD PRODUCTS, COMMODITY

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF USD 100,000.00 

SALES

:

USD 151,969,479 [2016]

NET WORTH

:

USD (807,365) [2016]

STAFF STRENGTH

:

10 [2018]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

SLOW

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE 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) trading of food products, commodity.

 

The immediate holding company of the Subject is NOBLE NATURAL RESOURCES INDIA PRIVATE LIMITED, a company incorporated in INDIA.

 

Share Capital History

Date

Issue & Paid Up Capital

21/02/2018

USD 100,000.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

NOBLE NATURAL RESOURCES INDIA PRIVATE LIMITED

41, C WING, 215, ATRIUM, VILLAGE CHAKALA ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI - 400069 INDIA

T15UF2592

100,000.00

100.00

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

------

100,000.00

100.00

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

=====

 

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

LI YEBIN

Address

:

43B, LONDON STREET BENTLEIGH, VIC 3204, MELBOURNE, AUSTRALIA.

IC / PP No

:

PE0828859

Nationality

:

CHINESE

Date of Appointment

:

10/08/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

201526081H

COFCO AGRI COMMODITIES PTE. LTD.

Director

10/08/2017

0.00

-

USD(853,254.00)

2016

-

21/02/2018

2

200101811W

COFCO RESOURCES PTE. LTD.

Director

10/08/2017

0.00

-

USD(48,126,000.00)

2015

-

20/11/2017

3

198500536M

CONCORDIA AGRITRADING PTE LTD

Director

30/06/2017

0.00

-

USD953,845.00

2016

-

14/12/2017

 

DIRECTOR 2

 

Name Of Subject

:

LIM BOON KIAT

Address

:

12, MARINA VIEW, 28-01, ASIA SQUARE TOWER 2, 018961, SINGAPORE.

Other Address(es)

:

86, WILKIE ROAD, 01-11, WILKIE STUDIO, 228096, SINGAPORE.

IC / PP No

:

S7030024I

Nationality

:

SINGAPOREAN

Date of Appointment

:

10/08/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

201526081H

COFCO AGRI COMMODITIES PTE. LTD.

Director

10/08/2017

0.00

-

USD(853,254.00)

2016

-

21/02/2018

2

200101811W

COFCO RESOURCES PTE. LTD.

Director

10/08/2017

0.00

-

USD(48,126,000.00)

2015

-

20/11/2017

3

198500536M

CONCORDIA AGRITRADING PTE LTD

Director

16/05/2011

0.00

-

USD953,845.00

2016

-

14/12/2017

4

199800189G

TRANSGRAIN SHIPPING (SINGAPORE) PTE. LTD.

Director Secretary

29/10/2015 01/09/2010

0.00

-

USD262,196.00

2015

-

15/12/2016



MANAGEMENT

 

 

1)

Name of Subject

:

LI YEBIN

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

JESLYN HENG FOOK PYNG

IC / PP No

:

S2587198G

Address

:

12, MARINA VIEW, 28-01, ASIA SQUARE TOWER 2, 018961, SINGAPORE.

 

BANKING


No Banker found in our databank. 

 

ENCUMBRANCE (S)


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

 

 

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank against 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 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

[

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

X

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Goods Traded

:

FOOD PRODUCTS, COMMODITY

 

Total Number of Employees:

YEAR

2018

2016

 

GROUP

N/A

N/A

COMPANY

10

100

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of food products, commodity. 

The Subject sells grains and oilseeds to cotton and other commodity products.

The Subject sells the products according to its customers' orders. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-68058600

Match

:

N/A

Address Provided by Client

:

12 MARINA VIEW 28-01 ASIA SQUARE TOWER 2 SINGAPORE 018961 SINGAPORE

Current Address

:

12, MARINA VIEW, 28-01, ASIA SQUARE TOWER 2, 018961, SINGAPORE.

Match

:

YES


We have contacted the Subject's Accountant and its Company Secretary for the latest financial accounts. However they have rejected our request in view of the confidentiality of the documents.

 

Other Investigations


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

The Subject refused to disclose its bankers.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

0.00%

]

Profit/(Loss) Before Tax

:

Increased

[

(1,476.86%)

]

Return on Shareholder Funds

:

Unfavourable

[

105.68%

]

Return on Net Assets

:

Unfavourable

[

71.45%

]

The higher turnover could be attributed to the favourable market condition.Higher losses before tax during the year could be due to the higher operating costs incurred. Although the Subject's returns showed positive figures it is not reflective of the true situation. The Subject incurred losses during the year and its shareholders' funds have turned red. The positive returns on shareholders' funds is the result of losses divided by negative shareholders' funds. The Subject's management was inefficient in utilising the assets to generate returns.

Working Capital Control

Debtor Ratio

:

Favourable

[

19 Days

]

Creditors Ratio

:

Unfavourable

[

101 Days

]

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

:

Acceptable

[

0.98 Times

]

Current Ratio

:

Unfavourable

[

0.98 Times

]

The Subject's liquid ratio was slightly low. This could indicate that the Subject's working capital was slightly deficient. The Subject will have to improve its liquidity position either by obtaining short term financing or increase its paid up capital so that it can meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Unfavourable

[

(2.09 Times)

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject incurred losses in the year. It did not generate sufficient income to service its interest.  If the situation does not improve, the Subject may be vulnerable to default in servicing the interest. 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 :

Although the Subject's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. The Subject's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. The Subject's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. 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 : POOR

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2012

2013

2014

2015

2016*

 

Population (Million)

5.31

5.40

5.47

5.54

5.63

Gross Domestic Products ( % )

1.3

3.7

(3.5)

3.7

4.8

Consumer Price Index

4.6

2.4

2.4

(0.5)

(0.7)

Total Imports (Million)

474,554.0

466,762.0

463,779.1

407,767.9

398,372.0

Total Exports (Million)

510,329.0

513,391.0

518,922.7

476,285.4

468,552.0

 

Unemployment Rate (%)

2.0

1.9

1.9

1.9

2.1

Tourist Arrival (Million)

14.49

15.46

15.01

15.23

16.28

Hotel Occupancy Rate (%)

86.4

86.3

85.5

85.0

-

Cellular Phone Subscriber (Million)

1.52

1.97

1.98

1.99

-

 

Registration of New Companies (No.)

31,892

37,288

41,589

34,243

35,528

Registration of New Companies (%)

(1.3)

9.8

11.5

(17.7)

3.8

Liquidation of Companies (No.)

17,218

17,369

18,767

21,384

-

Liquidation of Companies (%)

9.4

(5.3)

8.0

13.9

-

 

Registration of New Businesses (No.)

24,788

22,893

35,773

28,480

33,326

Registration of New Businesses (%)

5.51

1.70

56.30

(20.39)

17.02

Liquidation of Businesses (No.)

22,489

22,598

22,098

26,116

-

Liquidation of Businesses (%)

(2.2)

0.5

(2.2)

18.2

-

 

Bankruptcy Orders (No.)

1,748

1,992

1,757

1,776

-

Bankruptcy Orders (%)

14.5

14.0

(11.8)

1.0

-

Bankruptcy Discharges (No.)

1,881

2,584

3,546

3,499

-

Bankruptcy Discharges (%)

35.2

37.4

37.2

(1.3)

-

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

5.16

1.78

4.29

3.04

-

Fish Supply & Wholesale

(0.5)

(3.8)

(8.6)

(8.5)

(9.9)

 

Manufacturing #

Food, Beverages & Tobacco

97.9

97.9

99.4

100.0

103.7

Textiles

140.1

119.5

102.7

100.0

93.3

Wearing Apparel

395.4

334.1

212.6

100.0

80.3

Leather Products & Footwear

109.5

122.0

106.5

100.0

93.2

Wood & Wood Products

93.3

103.0

107.2

100.0

90.5

Paper & Paper Products

98.5

104.4

104.5

100.0

99.7

Printing & Media

122.8

113.8

105.968

100.0

86.9

Crude Oil Refineries

107.1

100.7

92.2

100.0

100.5

Chemical & Chemical Products

85.3

88.4

96.7

100.0

97.6

Pharmaceutical Products

103.8

101.421

109.4

100.0

115.9

Rubber & Plastic Products

113.5

109.497

109.2

100.0

87.9

Non-metallic Mineral

108.8

107.4

90.759

100.0

93.6

Basic Metals

91.5

77.2

99.3

100.0

113.1

Fabricated Metal Products

107.314

107.5

107.757

100.0

91.7

Machinery & Equipment

107.3

109.1

118.2

100.0

79.3

Electrical Machinery

80.102

87.4

97.871

100.0

99.3

Electronic Components

100.7

105.0

105.6

100.0

106.3

Transport Equipment

109.9

111.1

106.68

100.0

98.7

 

Construction

28.70

25.40

22.00

-

-

Real Estate

31.9

88.5

145.1

-

-

 

Services

Electricity, Gas & Water

6.30

6.70

6.50

-

-

Transport, Storage & Communication

5.30

9.80

14.20

-

-

Finance & Insurance

0.50

3.30

6.00

-

7.40

Government Services

6.00

6.50

6.30

-

-

Education Services

0.30

3.10

5.98

-

2.40

 

* Estimate / Preliminary

# Based on Index of Industrial Production (2015 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale & retail trade sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the preceding quarter. Growth was supported by both the wholesale trade and retail trade segments. The wholesale trade segment was boosted by an increase in both domestic and foreign wholesale trade sales volume. In particular, the domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in the previous quarter. The strong performance in domestic wholesale trade was due to a surge in the sales of petroleum and petroleum products (14%), chemicals & chemical products (39%) and telecommunications & computers (18%).

Similarly, the foreign wholesale trade index rose by 10% in the third quarter of 2015, accelerating from the 6.9% rise in the previous quarter. Growth was driven by improvements in the sales of petroleum & petroleum products (21%), metals, timber & construction materials (10%) and general wholesale trade (8.8%).

Overall retail trade sales volume also recorded resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth was supported by a surge in the volume of motor vehicle sales (44%), which was in turn due to a substantial increase in the supply of Certificate of Entitlements. Excluding motor vehicles, retail sales volume increased at a much slower pace of 0.7% over the same period. The increase in retail sales volume (excluding motor vehicles) was due to improved non-discretionary goods sales. For instance, the sales of medical goods & toiletries and department store goods rose by 8.1% and 3.6% respectively.

According to the Retail News Asia, Food and beverage has overtaken fashion as the primary driver of demand for retail real estate in Singapore. Despite declining retail sales and consumer spending, the prime retail sector remained in good shape during the third quarter 2015.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2015, the Subject is a Private Limited company, focusing on trading of food products, commodity. 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. The Subject have a strong support from its holding company. However, the Subject does not have a strong capital position. Without a strong capital, the Subject may face difficulties to expand its business compared to other large corporation. 

Investigation revealed, 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. Being a small company, the Subject's business operation is supported by 10 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its 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. The Subject's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of USD -807,365. Therefore, the Subject as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations. 

The poor payment habit may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies. 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. 

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.



PROFIT AND LOSS ACCOUNT

 

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

COFCO AGRI COMMODITIES PTE. LTD.

 

Financial Year End

2016-12-31

2015-12-31

Months

12

6

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

TURNOVER

151,969,479

-

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

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

Total Turnover

151,969,479

-

Costs of Goods Sold

(152,330,839)

-

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

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

Gross Profit

(361,360)

-

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

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

PROFIT/(LOSS) FROM OPERATIONS

(853,254)

(54,111)

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

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

PROFIT/(LOSS) BEFORE TAXATION

(853,254)

(54,111)

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

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

PROFIT/(LOSS) AFTER TAXATION

(853,254)

(54,111)

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(54,111)

-

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

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

As restated

(54,111)

-

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

(907,365)

(54,111)

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(907,365)

(54,111)

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

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

INTEREST EXPENSE (as per notes to P&L)

Others

276,374

27

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

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

276,374

27

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

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

DEPRECIATION (as per notes to P&L)

581

159

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

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

Total Amortization And Depreciation

581

159

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

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

 

 

 

 

BALANCE SHEET

 

COFCO AGRI COMMODITIES PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

1,143

1,724

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

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

TOTAL LONG TERM ASSETS

1,143

1,724

CURRENT ASSETS

Trade debtors

7,720,020

-

Other debtors, deposits & prepayments

594,320

-

Amount due from holding company

38,757,543

-

Cash & bank balances

52,655

68,036

Others

953,794

-

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

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

TOTAL CURRENT ASSETS

48,078,332

68,036

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

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

TOTAL ASSET

48,079,475

69,760

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

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

CURRENT LIABILITIES

Trade creditors

42,304,795

-

Other creditors & accruals

51,309

7,927

Amounts owing to related companies

5,348,986

15,944

Other liabilities

1,181,750

-

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

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

TOTAL CURRENT LIABILITIES

48,886,840

23,871

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

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

NET CURRENT ASSETS/(LIABILITIES)

(808,508)

44,165

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

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

TOTAL NET ASSETS

(807,365)

45,889

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

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

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

100,000

100,000

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

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

TOTAL SHARE CAPITAL

100,000

100,000

RESERVES

Retained profit/(loss) carried forward

(907,365)

(54,111)

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

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

TOTAL RESERVES

(907,365)

(54,111)

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

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

SHAREHOLDERS' FUNDS/EQUITY

(807,365)

45,889

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

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

 

 

 

 

FINANCIAL RATIO

 

COFCO AGRI COMMODITIES PTE. LTD.

 

TYPES OF FUNDS

Cash

52,655

68,036

Net Liquid Funds

52,655

68,036

Net Liquid Assets

(808,508)

44,165

Net Current Assets/(Liabilities)

(808,508)

44,165

Net Tangible Assets

(807,365)

45,889

Net Monetary Assets

(808,508)

44,165

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

0

0

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

(576,299)

(53,925)

BALANCE SHEET ITEMS

Total Borrowings

0

0

Total Liabilities

48,886,840

23,871

Total Assets

48,079,475

69,760

Net Assets

(807,365)

45,889

Net Assets Backing

(807,365)

45,889

Shareholders' Funds

(807,365)

45,889

Total Share Capital

100,000

100,000

Total Reserves

(907,365)

(54,111)

GROWTH RATIOS (Year on Year) (%)

Revenue

-

-

Proft/(Loss) Before Tax

(1,476.86)

-

Proft/(Loss) After Tax

(1,476.86)

-

Total Assets

-

-

Total Liabilities

-

-

LIQUIDITY (Times)

Cash Ratio

0

2.85

Liquid Ratio

0.98

2.85

Current Ratio

0.98

2.85

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

Debtors Ratio

19

0

Creditors Ratio

101

0

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

Liabilities Ratio

(60.55)

0.52

Times Interest Earned Ratio

(2.09)

(2,003.11)

Assets Backing Ratio

(8.07)

0.46

PERFORMANCE RATIO (%)

Operating Profit Margin

(0.56)

0

Net Profit Margin

(0.56)

0

Return On Net Assets

71.45

(117.86)

Return On Capital Employed

71.45

(117.86)

Return On Shareholders' Funds/Equity

105.68

(117.92)

Dividend Pay Out Ratio (Times)

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.05

UK Pound

1

INR 90.41

Euro

1

INR 79.83

SGD

1

INR 49.00

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.