MMTC TRANSNATIONAL PTE LIMITED (MTPL) (Click to view the website)
Profile of MMTC Limited's Global Footprint
MMTC TRANSNATIONAL PTE LIMITED (MTPL) Singapore is wholly owned subsidiary of MMTC Limited, New Delhi, India, a Govt. of India Undertaking under the Ministry of Commerce. MMTC Limited is India’s largest international trading corporation, and has “Five Star Export House Status” awarded by the Government of India.
MTPL was incorporated in Singapore under Singapore laws in 1994 and in April 2000 MTPL received the prestigious Approved International Trader (AIT) status now called as Global Trader Status by the Government of Singapore. This status is granted to companies fulfilling strict criteria and enable such companies to join the top league of leading trading companies in Singapore.
The status endorsed MTPL performance as international trader as well as its contribution to Singapore’s economy, and serve to enhance its stature and competitiveness in the global trading arena.
Over the years MTPL has successfully consolidated and diversified in various business activities which now encompass Minerals, Metals, Steel and Pig Iron, Fertiliser and Fertiliser Raw materials, Coal and Coke, Building Materials like Cement and Clinker, Ferro Alloys, Industrial Raw Materials, Chemicals, Agri Products, Edible oil, Engineering Products, Bullion etc. Third country trading is another area where MTPL is able to generate new business opportunities.
MTPL has been ranked 18th out of 51 Companies listed under the category of General Whole Sale Trade by DP Information Group (A long term investor and leader in variable business information and services in the region. It builds and manages quality data, information, research, start up and credit management services to support the growth of Singapore and Asian economies) and supporting Organizations, Earnest & Young Singapore, International Enterprise, Singapore (under Ministry of Trade, Govt. of Singapore) in their survey “Singapore 1000 Companies” for the year 2005.
MTPL was also ranked 389 out of 1000 Companies on the basis of Sales/Turn-over for the year 2003-04 all over Singapore.
The strategic initiative MMTC took a decade back to set up MTPL as a window to the South East has paid rich dividends. As a “global trader”, the prestigious status awarded to it by Singapore Trade Development Board, MTPL has truly emerged as a dynamic and vibrant organization achieving year on year growth.
MTPL has been steadily marching forward and increasing business volume from a level of S$2.36 million in 1994-95 to S$31 million in 1997-98. MTPL crossed S$50 million in 1998-99 and S$100 million the very next year. S$ 200 million level was achieved in 2002-03 when business volume reached close to S$250 million followed by business turnover of USD 187 million (S$ 325 million) during 2003-04. The performance in 2003-04 reflects a business growth of 30% over the last fiscal year. Building further on this growth during 2004-05 MTPL has doubled turnover to achieve 100% growth in US Dollar terms in fiscal 2004-05 to USD 388 million (SD 635 million).
On financial parameters, MTPL has done equally well in increasing its net worth; by almost SIX times since inception (from SD 1.46 million, in 94-95 to approx. SD 8.84 million in 2004-05) and ploughing back rich dividends to MMTC. Dividends paid so far by MTPL have exceeded total equity contributed by MMTC into the subsidiary.
In a fast changing dynamic business environment, MTPL is well equipped to propel growth to attain business of S$1 billion very soon.