|
|
|
MIRA INFORM REPORT
|
Report No. : |
485707 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL INTERNATIONAL TRADING PTE LTD |
|
|
|
|
Formerly Known As : |
CARGILL COMMODITY TRADING PTE. LTD. |
|
|
|
|
Registered Office : |
138, Market Street, 17-01, Capitagreen, 048946 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.05.2017 |
|
|
|
|
Date of Incorporation : |
05.12.1967 |
|
|
|
|
Com. Reg. No.: |
196700442D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of petroleum, edible oil and
cocoa, commodity products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 2014-16 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. |
: |
196700442D |
|
COMPANY NAME |
: |
CARGILL INTERNATIONAL TRADING PTE LTD |
|
FORMER NAME |
: |
CARGILL COMMODITY TRADING PTE. LTD. (29/07/1993) |
|
INCORPORATION DATE |
: |
05/12/1967 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
138, MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
138, MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
TEL.NO. |
: |
65-62951112 |
|
FAX.NO. |
: |
65-63938898 |
|
WEB SITE |
: |
WWW.CARGILL.COM |
|
CONTACT PERSON |
: |
LEE KOK YING ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PETROLEUM, EDIBLE OIL AND COCOA, COMMODITY PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
1,650,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,650,000.00 |
|
SALES |
: |
USD 6,128,675,000 [2017] |
|
NET WORTH |
: |
USD 34,345,000 [2017] |
|
STAFF STRENGTH |
: |
n/a [2018] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
NO COMPLAINTS |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
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 petroleum, edible oil and cocoa, commodity products.
The immediate holding company of the Subject is CARGILL ASIA
PACIFIC HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is CARGILL, INC, a
company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/01/2018 |
SGD 1,650,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CARGILL ASIA PACIFIC HOLDINGS PTE. LTD. |
138, MARKET STREET, 17-01, CAPITAGREEN 048946 ,SINGAPORE |
200401312G |
1,650,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,650,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
200106030W |
SINGAPORE |
CARGILL DONGGUAN HOLDINGS PTE. LTD. |
- |
100.00 |
15/01/2018 |
|
201203900K |
SINGAPORE |
CARGILL ENTERPRISES PTE. LTD. |
- |
100.00 |
15/01/2018 |
|
CHINA |
CARGILL FERROUS TRADING (SHANGHAI) LTD |
- |
100.00 |
31/05/2017 |
|
|
INDIA |
CARGILL GLOBAL TRADING INDIA PRIVATE LIMITED |
- |
99.63 |
31/05/2016 |
|
|
200506905Z |
SINGAPORE |
CARGILL OCEAN TRANSPORTATION (SINGAPORE) PTE. LTD. |
- |
100.00 |
15/01/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KUMAR VENKATESWARAN |
|
Address |
: |
219, BEDOK SOUTH AVENUE 3, ECO, 469310, SINGAPORE. |
|
IC / PP No |
: |
S2757765B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
11/08/2017 |
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 |
196700442D |
CARGILL INTERNATIONAL TRADING PTE LTD |
Director |
11/08/2017 |
0.00 |
- |
USD46,789,000.00 |
2017 |
- |
15/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
LEE KOK YING |
|
Address |
: |
8, CAIRNHILL RISE, 16-02, ALBA, 229743, SINGAPORE. |
|
IC / PP No |
: |
S1652226J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
27/07/2016 |
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 |
196700442D |
CARGILL INTERNATIONAL TRADING PTE LTD |
Director |
27/07/2016 |
0.00 |
- |
USD46,789,000.00 |
2017 |
- |
15/01/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LEE KOK YING |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
KAREN LING GEOK BEE |
|
IC / PP No |
: |
S7123372C |
|
|
Address |
: |
263, BISHAN STREET 22, 22-265, 570263, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
CHYE LIAN YEW @ CAI LIANYAO IAN |
|
IC / PP No |
: |
S7532268B |
|
|
Address |
: |
188, HILLCREST ROAD, HILLCREST PARK, 289070, 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
70% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
30% |
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
PETROLEUM, EDIBLE OIL AND COCOA, COMMODITY PRODUCTS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2015 |
2014 |
2013 |
||||
|
|
|||||||||
|
N/A |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
n/a |
400 |
400 |
400 |
400 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of petroleum,
edible oil and cocoa, commodity products.
The Subject is under the Cargill Group of Companies.
The Subject engaged in trading of commodity products.
The Group is producers and marketers of food, agricultural, financial and
industrial products and services.
The Group is one of the leading company in commodity products.
It sells the products according to its customers' orders and requirements.
RECENT
DEVELOPMENT
|
24 November 2014
Cargill’s ocean transportation business has been awarded the 2014 International
Bulk Journal (IBJ) Customer Care award on November 10th, making it the first
dry bulk shipping company to win this award.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62951112 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
138 MARKET STREET , HEX 17-01 CAPITAGREEN, 048946 |
|
Current Address |
: |
138, MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some information
on the Subject.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
136.23% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
151.14% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The management had succeeded in turning the
Subject into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources.
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 |
[ |
3 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
17 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 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 |
: |
Acceptable |
[ |
0.85 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.93 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 |
: |
Favourable |
[ |
14.22 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's turnover showed a volatile trend but its losses
were lower when compared to the previous corresponding period. This could suggest
that the Subject was more efficient in its operating cost control and was
more competitive. 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. 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 : STABLE |
||||||
|
|
||||||
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
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
CARGILL INTERNATIONAL TRADING PTE LTD |
|
Financial Year End |
2017-05-31 |
2016-05-31 |
2015-05-31 |
2014-05-31 |
2013-05-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
6,128,675,000 |
4,959,256,000 |
10,606,125,000 |
13,784,028,000 |
12,527,999,000 |
|
Other Income |
33,143,000 |
15,524,000 |
11,795,000 |
18,735,000 |
20,024,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
6,161,818,000 |
4,974,780,000 |
10,617,920,000 |
13,802,763,000 |
12,548,023,000 |
|
Costs of Goods Sold |
(6,057,399,000) |
(4,927,554,000) |
(10,548,380,000) |
(13,755,129,000) |
(12,372,728,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
104,419,000 |
47,226,000 |
69,540,000 |
47,634,000 |
175,295,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
49,269,000 |
(17,875,000) |
(3,558,000) |
(13,714,000) |
92,977,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
49,269,000 |
(17,875,000) |
(3,558,000) |
(13,714,000) |
92,977,000 |
|
Taxation |
(2,480,000) |
(4,262,000) |
(1,417,000) |
1,252,000 |
(5,744,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
46,789,000 |
(22,137,000) |
(4,975,000) |
(12,462,000) |
87,233,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(7,449,000) |
26,688,000 |
31,663,000 |
84,125,000 |
55,093,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(7,449,000) |
26,688,000 |
31,663,000 |
84,125,000 |
55,093,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
39,340,000 |
4,551,000 |
26,688,000 |
71,663,000 |
142,326,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(12,000,000) |
- |
(40,000,000) |
(58,201,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
39,340,000 |
(7,449,000) |
26,688,000 |
31,663,000 |
84,125,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
3,726,000 |
2,399,000 |
3,206,000 |
3,568,000 |
3,370,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,726,000 |
2,399,000 |
3,206,000 |
3,568,000 |
3,370,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,174,000 |
1,271,000 |
657,000 |
941,000 |
877,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
1,174,000 |
1,271,000 |
657,000 |
941,000 |
877,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
CARGILL INTERNATIONAL TRADING PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
6,333,000 |
7,398,000 |
3,985,000 |
1,468,000 |
1,342,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
61,000,000 |
62,244,000 |
62,244,000 |
61,244,000 |
61,244,000 |
|
Investment securities |
20,430,000 |
- |
- |
- |
- |
|
Deferred assets |
- |
96,000 |
1,989,000 |
1,842,000 |
233,000 |
|
Others |
160,000 |
762,000 |
66,000 |
1,860,000 |
459,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
81,590,000 |
63,102,000 |
64,299,000 |
64,946,000 |
61,936,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
87,923,000 |
70,500,000 |
68,284,000 |
66,414,000 |
63,278,000 |
|
Short term quoted/unquoted investments |
- |
- |
97,000 |
97,000 |
97,000 |
|
Stocks |
51,892,000 |
187,224,000 |
116,146,000 |
366,993,000 |
277,729,000 |
|
Trade debtors |
280,300,000 |
296,978,000 |
342,560,000 |
734,872,000 |
404,437,000 |
|
Other debtors, deposits & prepayments |
11,662,000 |
16,263,000 |
40,807,000 |
145,495,000 |
52,425,000 |
|
Amount due from holding company |
26,186,000 |
16,906,000 |
25,297,000 |
1,536,000 |
29,998,000 |
|
Amount due from subsidiary companies |
481,000 |
426,000 |
703,000 |
674,000 |
414,000 |
|
Amount due from related companies |
126,177,000 |
99,624,000 |
136,011,000 |
94,743,000 |
280,030,000 |
|
Cash & bank balances |
14,000 |
141,000 |
341,000 |
314,000 |
99,000 |
|
Others |
163,995,000 |
226,466,000 |
184,644,000 |
245,058,000 |
278,661,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
660,707,000 |
844,028,000 |
846,606,000 |
1,589,782,000 |
1,323,890,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
748,630,000 |
914,528,000 |
914,890,000 |
1,656,196,000 |
1,387,168,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
91,407,000 |
131,436,000 |
100,739,000 |
289,536,000 |
192,473,000 |
|
Other creditors & accruals |
124,344,000 |
97,602,000 |
196,158,000 |
335,335,000 |
407,460,000 |
|
Deposits from customers |
5,277,000 |
6,093,000 |
2,207,000 |
190,000 |
- |
|
Other liabilities & accruals |
242,303,000 |
319,412,000 |
379,557,000 |
591,304,000 |
526,705,000 |
|
Amounts owing to holding company |
5,254,000 |
5,082,000 |
4,061,000 |
9,174,000 |
1,406,000 |
|
Amounts owing to subsidiary companies |
5,249,000 |
6,871,000 |
2,148,000 |
7,542,000 |
2,353,000 |
|
Amounts owing to related companies |
120,975,000 |
108,389,000 |
68,549,000 |
136,241,000 |
131,053,000 |
|
Provision for taxation |
2,076,000 |
2,251,000 |
21,000 |
- |
3,754,000 |
|
Other liabilities |
116,682,000 |
229,324,000 |
130,380,000 |
257,161,000 |
34,457,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
713,567,000 |
906,460,000 |
883,820,000 |
1,626,483,000 |
1,299,661,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(52,860,000) |
(62,432,000) |
(37,214,000) |
(36,701,000) |
24,229,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
35,063,000 |
8,068,000 |
31,070,000 |
29,713,000 |
87,507,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
767,000 |
767,000 |
767,000 |
767,000 |
767,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
767,000 |
767,000 |
767,000 |
767,000 |
767,000 |
|
Capital reserve |
(4,890,000) |
(4,890,000) |
(4,890,000) |
(4,890,000) |
(4,890,000) |
|
Exchange equalisation/fluctuation reserve |
- |
- |
(270,000) |
362,000 |
- |
|
Retained profit/(loss) carried forward |
39,340,000 |
(7,449,000) |
26,688,000 |
31,663,000 |
84,125,000 |
|
Capital redemption reserve |
(872,000) |
1,132,000 |
457,000 |
133,000 |
(461,000) |
|
Others |
- |
- |
- |
- |
1,150,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
33,578,000 |
(11,207,000) |
21,985,000 |
27,268,000 |
79,924,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
34,345,000 |
(10,440,000) |
22,752,000 |
28,035,000 |
80,691,000 |
|
Others |
718,000 |
18,508,000 |
8,318,000 |
1,678,000 |
6,816,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
718,000 |
18,508,000 |
8,318,000 |
1,678,000 |
6,816,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
35,063,000 |
8,068,000 |
31,070,000 |
29,713,000 |
87,507,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
CARGILL INTERNATIONAL TRADING PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
14,000 |
141,000 |
341,000 |
314,000 |
99,000 |
|
Net Liquid Funds |
14,000 |
141,000 |
341,000 |
314,000 |
99,000 |
|
Net Liquid Assets |
(104,752,000) |
(249,656,000) |
(153,360,000) |
(403,694,000) |
(253,500,000) |
|
Net Current Assets/(Liabilities) |
(52,860,000) |
(62,432,000) |
(37,214,000) |
(36,701,000) |
24,229,000 |
|
Net Tangible Assets |
35,063,000 |
8,068,000 |
31,070,000 |
29,713,000 |
87,507,000 |
|
Net Monetary Assets |
(105,470,000) |
(268,164,000) |
(161,678,000) |
(405,372,000) |
(260,316,000) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
0 |
0 |
0 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
54,169,000 |
(14,205,000) |
0 |
0 |
0 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
714,285,000 |
924,968,000 |
892,138,000 |
1,628,161,000 |
1,306,477,000 |
|
Total Assets |
748,630,000 |
914,528,000 |
914,890,000 |
1,656,196,000 |
1,387,168,000 |
|
Net Assets |
35,063,000 |
8,068,000 |
31,070,000 |
29,713,000 |
87,507,000 |
|
Net Assets Backing |
34,345,000 |
(10,440,000) |
22,752,000 |
28,035,000 |
80,691,000 |
|
Shareholders' Funds |
34,345,000 |
(10,440,000) |
22,752,000 |
28,035,000 |
80,691,000 |
|
Total Share Capital |
767,000 |
767,000 |
767,000 |
767,000 |
767,000 |
|
Total Reserves |
33,578,000 |
(11,207,000) |
21,985,000 |
27,268,000 |
79,924,000 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
23.58 |
(53.24) |
(23.05) |
10.03 |
(11.06) |
|
Proft/(Loss) Before Tax |
375.63 |
(402.39) |
74.06 |
(114.75) |
657.51 |
|
Proft/(Loss) After Tax |
311.36 |
(344.96) |
60.08 |
(114.29) |
943.33 |
|
Total Assets |
(18.14) |
(0.04) |
(44.76) |
19.39 |
(17.20) |
|
Total Liabilities |
(22.78) |
3.68 |
(45.21) |
24.62 |
(18.87) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liquid Ratio |
0.85 |
0.72 |
0.83 |
0.75 |
0.80 |
|
Current Ratio |
0.93 |
0.93 |
0.96 |
0.98 |
1.02 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
3 |
14 |
4 |
10 |
8 |
|
Debtors Ratio |
17 |
22 |
12 |
19 |
12 |
|
Creditors Ratio |
6 |
10 |
3 |
8 |
6 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
20.80 |
(88.60) |
39.21 |
58.08 |
16.19 |
|
Times Interest Earned Ratio |
14.22 |
(6.45) |
(0.11) |
(2.84) |
28.59 |
|
Assets Backing Ratio |
45.71 |
10.52 |
40.51 |
38.74 |
114.09 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.80 |
(0.36) |
(0.03) |
(0.10) |
0.74 |
|
Net Profit Margin |
0.76 |
(0.45) |
(0.05) |
(0.09) |
0.70 |
|
Return On Net Assets |
151.14 |
(191.82) |
(1.13) |
(34.15) |
110.10 |
|
Return On Capital Employed |
151.14 |
(191.82) |
(1.13) |
(34.15) |
110.10 |
|
Return On Shareholders' Funds/Equity |
136.23 |
212.04 |
(21.87) |
(44.45) |
108.11 |
|
Dividend Pay Out Ratio (Times) |
0 |
0.54 |
0 |
3.21 |
0.67 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.76 |
|
|
1 |
INR 89.91 |
|
Euro |
1 |
INR 78.20 |
|
SGD |
1 |
INR 48.30 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.