|
|
|
MIRA
INFORM REPORT
|
Report No. : |
497083 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
AVRA COMMODITIES
PTE. LTD. |
|
|
|
|
Registered Office : |
137, Telok Ayer Street, 04-05, 068602 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
11.01.2011 |
|
|
|
|
Com. Reg. No.: |
201101118W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of coal, metal, iron ore, derivatives. |
|
|
|
|
No. of Employees : |
25 [2018] |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
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
|
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. |
: |
201101118W |
||||
|
COMPANY NAME |
: |
AVRA COMMODITIES PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
11/01/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
137, TELOK AYER STREET, 04-05, 068602,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
137, TELOK AYER STREET, 04-05, 068602,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62229775 |
||||
|
FAX.NO. |
: |
65-62219369 |
||||
|
WEB SITE |
: |
WWW.AVRA.COM |
||||
|
CONTACT PERSON |
: |
BENJAMIN JAMES STEWART ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COAL, METAL, IRON ORE,
DERIVATIVES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
2,500,000.00 ORDINARY SHARE, OF A VALUE OF
USD 2,500,000.00 |
||||
|
SALES |
: |
USD 654,351,179 [2016] |
||||
|
NET WORTH |
: |
USD 38,128,135 [2016] |
||||
|
STAFF STRENGTH |
: |
25 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
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 coal, metal, iron ore, derivatives.
The immediate holding company of the Subject
is AVRA INTERNATIONAL PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject
is EFENEA F LTD, a company incorporated in CAYMAN ISLANDS.
The intermediate holding company of the
Subject is AVRA ENTERPRISES LIMITED, a company incorporated in VIRGIN ISLANDS,
BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
17/01/2018 |
USD 22,500,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AVRA INTERNATIONAL PTE. LTD. |
137, TELOK AYER STREET, 04-05 068602
,SINGAPORE |
200916955R |
22,500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
22,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
SOUTH AFRICA |
AVRA COMMODITIES (PTY) LTD |
- |
100.00 |
31/12/2016 |
|
|
201435533W |
SINGAPORE |
AVRA LTO PTE. LTD. |
- |
100.00 |
17/01/2018 |
|
201626321 |
SINGAPORE |
LINDENFELS PTE. LTD. |
- |
100.00 |
17/01/2018 |
|
INDONESIA |
PT. AVRA INDONESIA |
- |
99.00 |
31/12/2016 |
|
|
INDONESIA |
PT. AVRA RESOURCES MANAGEMENT |
- |
80.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MARC AUREL LEUTHARD |
|
Address |
: |
77, JALAN KAMPONG CHANTEK, BINJAI CREST,
588639, SINGAPORE. |
|
IC / PP No |
: |
S7489251E |
|
Nationality |
: |
SWISS |
|
Date of Appointment |
: |
20/12/2016 |
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 |
201101118W |
AVRA COMMODITIES PTE. LTD. |
Director |
20/12/2016 |
0.00 |
- |
USD14,771,560.00 |
2016 |
- |
17/01/2018 |
|
2 |
200916955R |
AVRA INTERNATIONAL PTE. LTD. |
Director |
20/12/2016 |
0.00 |
- |
USD1,618,645.00 |
2015 |
- |
09/06/2017 |
|
3 |
200507363D |
JURONG AROMATICS CORPORATION PTE. LTD. |
Director |
28/09/2011 |
0.00 |
- |
USD(18,678,000.00) |
2013 |
- |
15/12/2014 |
|
4 |
201206888N |
OAKY CREEK COAL SALES PTE. LIMITED |
Secretary Director |
22/08/2014 22/08/2014 |
0.00 |
- |
USD52,647,708.00 |
2014 |
- |
08/07/2016 |
DIRECTOR 2
|
Name Of Subject |
: |
BENJAMIN WILLIAM BURGESS |
|
Address |
: |
PAVILION APARTMENT TOWER 1, 11TH FLOOR,
1103, KH MAS, MANSYUR KAV 24, TANAH ABANG, JAKARTA, 10220, INDONESIA. |
|
IC / PP No |
: |
PE0398250 |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
13/03/2014 |
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 |
201101118W |
AVRA COMMODITIES PTE. LTD. |
Director |
13/03/2014 |
0.00 |
- |
USD14,771,560.00 |
2016 |
- |
17/01/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
ESBEN SOFREN POULSSON |
|
Address |
: |
214, DEPOT ROAD, THE INTERLACE, 109701,
SINGAPORE. |
|
IC / PP No |
: |
S2733700G |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
06/10/2016 |
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 |
201101118W |
AVRA COMMODITIES PTE. LTD. |
Director |
06/10/2016 |
0.00 |
- |
USD14,771,560.00 |
2016 |
- |
17/01/2018 |
|
2 |
200916955R |
AVRA INTERNATIONAL PTE. LTD. |
Director |
06/10/2016 |
0.00 |
- |
USD1,618,645.00 |
2015 |
- |
09/06/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
YEO EIK YEN |
|
Address |
: |
2, MARNE ROAD, 03-10, STUDIOS @ MARNE,
208393, SINGAPORE. |
|
IC / PP No |
: |
S6881792G |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/10/2016 |
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 |
201101118W |
AVRA COMMODITIES PTE. LTD. |
Director |
06/10/2016 |
0.00 |
- |
USD14,771,560.00 |
2016 |
- |
17/01/2018 |
|
2 |
200916955R |
AVRA INTERNATIONAL PTE. LTD. |
Director |
22/09/2016 |
0.00 |
- |
USD1,618,645.00 |
2015 |
- |
09/06/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
BENJAMIN JAMES STEWART |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
MOORE STEPHENS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
SHIRLEY LIM GUAT HUA |
|
IC / PP No |
: |
S2510643A |
|
|
Address |
: |
5, BEDOK PLACE, BEDOK GROVE, 486078,
SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BNP PARIBAS |
|
2) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201109591 |
03/08/2011 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201303572 |
06/03/2013 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201411475 |
21/10/2014 |
N/A |
CREDIT SUISSE (SCHWEIZ) AG |
- |
Unsatisfied |
|
C201411479 |
21/10/2014 |
N/A |
CREDIT SUISSE (SCHWEIZ) AG |
- |
Unsatisfied |
|
C201512290 |
27/10/2015 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201512292 |
27/10/2015 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201606431 |
29/06/2016 |
N/A |
LH ASIAN TFF PTE. LTD. |
- |
Unsatisfied |
|
C201611645 |
17/11/2016 |
N/A |
UBS SWITZERLAND AG |
- |
Unsatisfied |
|
C201611646 |
17/11/2016 |
N/A |
UBS SWITZERLAND AG |
- |
Unsatisfied |
|
C201700396 |
11/01/2017 |
N/A |
CREDIT SUISSE (SWITZERLAND) LTD. |
- |
Unsatisfied |
|
C201703627 |
19/04/2017 |
N/A |
CREDIT SUISSE (SWITZERLAND) LTD. |
- |
Unsatisfied |
|
C201703834 |
25/04/2017 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
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.
DEFAULTER CHECK
AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
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 |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
COAL, METAL, IRON ORE, DERIVATIVES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
25 |
25 |
25 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of coal, metal,
iron ore, derivatives.
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 |
: |
65-62229775 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
137 TELOK AYER STREET HEX 04-05 068602 |
|
Current Address |
: |
137, TELOK AYER STREET, 04-05, 068602,
SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject's registered office and she
provided some information.
The address provided is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
38.74% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
44.71% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The higher profit could be attributed to the increase in
turnover. 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 |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
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 |
[ |
1.12 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.12 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to
meet short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
26.93 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.37 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 was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has
improved with higher 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. With the favourable interest cover, the Subject could
be able to service all the accrued interest without facing any difficulties.
The Subject as a lowly geared company, will be more secured compared to those
highly geared companies. It has the ability to meet all its long term
obligations. |
||||||
|
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. |
|
AVRA COMMODITIES PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
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 |
654,351,179 |
542,502,241 |
381,677,495 |
353,674,835 |
187,102,248 |
|
Other Income |
147,682 |
110,694 |
130,059 |
32,783 |
3,129 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
654,498,861 |
542,612,935 |
381,807,554 |
353,707,618 |
187,105,377 |
|
Costs of Goods Sold |
(618,460,568) |
(526,881,639) |
(373,371,581) |
(346,476,336) |
(180,866,891) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
36,038,293 |
15,731,296 |
8,435,973 |
7,231,282 |
6,238,486 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
16,413,297 |
251,322 |
(989,573) |
1,500,220 |
1,368,643 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
16,413,297 |
251,322 |
(989,573) |
1,500,220 |
1,368,643 |
|
Taxation |
(1,641,737) |
(32,500) |
(22,829) |
(141,882) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
14,771,560 |
218,822 |
(1,012,402) |
1,358,338 |
1,368,643 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
312,948 |
710,923 |
1,723,325 |
364,987 |
(1,003,656) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
312,948 |
710,923 |
1,723,325 |
364,987 |
(1,003,656) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
15,084,508 |
929,745 |
710,923 |
1,723,325 |
364,987 |
|
TRANSFER TO RESERVES - General |
- |
3,203 |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(620,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
15,084,508 |
312,948 |
710,923 |
1,723,325 |
364,987 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
632,997 |
546,076 |
762,892 |
656,031 |
386,167 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
632,997 |
546,076 |
762,892 |
656,031 |
386,167 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
11,727 |
13,797 |
9,680 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
11,727 |
13,797 |
9,680 |
- |
- |
|
============= |
============= |
============= |
|||
|
|
|
|
|
|
|
BALANCE SHEET
|
|
AVRA COMMODITIES PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
29,355 |
36,589 |
46,149 |
- |
- |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
28,366,002 |
1,566,010 |
2,200,009 |
2,200,000 |
2,200,000 |
|
Loans & advances - non-current |
2,670,696 |
3,166,353 |
3,827,291 |
4,460,409 |
- |
|
Others |
- |
4,424,471 |
21,825,324 |
23,589,403 |
3,632,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
31,036,698 |
9,156,834 |
27,852,624 |
30,249,812 |
5,832,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
31,066,053 |
9,193,423 |
27,898,773 |
30,249,812 |
5,832,933 |
|
CURRENT ASSETS |
|||||
|
Trade debtors |
54,261,436 |
36,112,344 |
9,999,681 |
27,081,633 |
37,062,329 |
|
Other debtors, deposits & prepayments |
7,493,666 |
21,599,764 |
25,560,937 |
18,779,492 |
16,469,053 |
|
Short term deposits |
1,424,766 |
737,239 |
235,960 |
1,164,099 |
4,270,144 |
|
Amount due from holding company |
4,424,471 |
22,730,015 |
- |
- |
- |
|
Amount due from subsidiary companies |
2,103,659 |
52,591 |
- |
1,365,955 |
- |
|
Amount due from related companies |
423,011 |
466,370 |
1,687,591 |
453,307 |
350,059 |
|
Cash & bank balances |
18,336,157 |
18,135,171 |
12,435,980 |
6,803,636 |
6,827,773 |
|
Amount owing by customer |
- |
1,680,000 |
- |
- |
- |
|
Others |
8,702 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
88,475,868 |
101,513,494 |
49,920,149 |
55,648,122 |
64,979,358 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
119,541,921 |
110,706,917 |
77,818,922 |
85,897,934 |
70,812,291 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
43,325,152 |
37,698,429 |
17,771,930 |
14,981,243 |
21,484,603 |
|
Other creditors & accruals |
6,390,475 |
1,985,539 |
1,407,212 |
1,092,405 |
869,328 |
|
Short term borrowings/Term loans |
423,011 |
418,894 |
444,490 |
453,307 |
- |
|
Other borrowings |
11,096,761 |
8,083,098 |
2,000,000 |
7,928,939 |
8,749,614 |
|
Amounts owing to holding company |
11,189,741 |
33,116,778 |
45,425,331 |
48,009,238 |
37,281,713 |
|
Amounts owing to subsidiary companies |
860,092 |
981,285 |
917,756 |
2,404,326 |
1,576,926 |
|
Amounts owing to related companies |
3,845,458 |
2,062,409 |
2,469,078 |
2,621,948 |
65,120 |
|
Provision for taxation |
1,612,400 |
17,200 |
- |
132,794 |
- |
|
Other liabilities |
- |
- |
163,263 |
1,670,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
78,743,090 |
84,363,632 |
70,599,060 |
79,294,200 |
70,027,304 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
9,732,778 |
17,149,862 |
(20,678,911) |
(23,646,078) |
(5,047,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
2,670,696 |
3,166,353 |
3,827,291 |
4,460,409 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,670,696 |
3,166,353 |
3,827,291 |
4,460,409 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
22,500,000 |
22,500,000 |
2,500,000 |
420,000 |
420,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
22,500,000 |
22,500,000 |
2,500,000 |
420,000 |
420,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
15,084,508 |
312,948 |
710,923 |
1,723,325 |
364,987 |
|
Employee share option reserve |
543,627 |
363,984 |
181,648 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
15,628,135 |
676,932 |
892,571 |
1,723,325 |
364,987 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
AVRA COMMODITIES PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
19,760,923 |
18,872,410 |
12,671,940 |
7,967,735 |
11,097,917 |
|
Net Liquid Funds |
19,760,923 |
18,872,410 |
12,671,940 |
7,967,735 |
11,097,917 |
|
Net Liquid Assets |
9,732,778 |
17,149,862 |
(20,678,911) |
(23,646,078) |
(5,047,946) |
|
Net Current Assets/(Liabilities) |
9,732,778 |
17,149,862 |
(20,678,911) |
(23,646,078) |
(5,047,946) |
|
Net Tangible Assets |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
Net Monetary Assets |
7,062,082 |
13,983,509 |
(24,506,202) |
(28,106,487) |
(5,047,946) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
17,046,294 |
797,398 |
(226,681) |
2,156,251 |
1,754,810 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
17,058,021 |
811,195 |
(217,001) |
2,156,251 |
1,754,810 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
14,190,468 |
11,668,345 |
6,271,781 |
12,842,655 |
8,749,614 |
|
Total Liabilities |
81,413,786 |
87,529,985 |
74,426,351 |
83,754,609 |
70,027,304 |
|
Total Assets |
119,541,921 |
110,706,917 |
77,818,922 |
85,897,934 |
70,812,291 |
|
Net Assets |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
Net Assets Backing |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
Shareholders' Funds |
38,128,135 |
23,176,932 |
3,392,571 |
2,143,325 |
784,987 |
|
Total Share Capital |
22,500,000 |
22,500,000 |
2,500,000 |
420,000 |
420,000 |
|
Total Reserves |
15,628,135 |
676,932 |
892,571 |
1,723,325 |
364,987 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
20.62 |
42.14 |
7.92 |
89.03 |
4,888.21 |
|
Proft/(Loss) Before Tax |
6,430.78 |
125.40 |
(165.96) |
9.61 |
236.37 |
|
Proft/(Loss) After Tax |
6,650.49 |
121.61 |
(174.53) |
(0.75) |
236.37 |
|
Total Assets |
7.98 |
42.26 |
(9.41) |
21.30 |
8,204.62 |
|
Total Liabilities |
(6.99) |
17.61 |
(11.14) |
19.60 |
4,775.39 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.25 |
0.22 |
0.18 |
0.10 |
0.16 |
|
Liquid Ratio |
1.12 |
1.20 |
0.71 |
0.70 |
0.93 |
|
Current Ratio |
1.12 |
1.20 |
0.71 |
0.70 |
0.93 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
30 |
24 |
10 |
28 |
72 |
|
Creditors Ratio |
26 |
26 |
17 |
16 |
43 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.37 |
0.50 |
1.85 |
5.99 |
11.15 |
|
Liabilities Ratio |
2.14 |
3.78 |
21.94 |
39.08 |
89.21 |
|
Times Interest Earned Ratio |
26.93 |
1.46 |
(0.30) |
3.29 |
4.54 |
|
Assets Backing Ratio |
1.69 |
1.03 |
1.36 |
5.10 |
1.87 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.51 |
0.05 |
(0.26) |
0.42 |
0.73 |
|
Net Profit Margin |
2.26 |
0.04 |
(0.27) |
0.38 |
0.73 |
|
Return On Net Assets |
44.71 |
3.44 |
(6.68) |
100.60 |
223.55 |
|
Return On Capital Employed |
41.78 |
3.03 |
(3.14) |
32.65 |
223.55 |
|
Return On Shareholders' Funds/Equity |
38.74 |
0.94 |
(29.84) |
63.38 |
174.35 |
|
Dividend Pay Out Ratio (Times) |
0 |
2.83 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
|
SGD |
1 |
INR 49.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.