Royal Cargo Inc (Philipine) BVD 11 - 08 - 2022 13 - 43

ROYAL
CARGO, INC.
Philippines
Active Private
BvD ID: PHA199712529 Orbis ID: 037508115 The Global Ultimate Owner of this controlled subsidiary is MRS LENY
RAEUBER
Free chapter
ROYAL CARGO BLDG., NO.4 STA. AGUEDA AVE., Legal form: Corporation

PASCOR DR., BRGY. STO. NINO Activity: Corporate, Transport, Freight
1704 & Storage
Philippines Date of incorporation: 1997
Phone: +63 2 3333000

Website: www.royalcargo.com
Most recent accounts: 2020 Ownership News stories since last year

Available in Orbis since: 03/2022
Types of account: Unconsolidated 9 shareholders 0 negative stories
Available for: 10 years 5 subsidiaries 0 stories in total
7 companies in the corporate
group
Total assets Operating revenue (Turnover)
140 90
120 80
70
100
60
80 50
60 40
30
40
20
20 10
0 0
2011 2014 2016 2018 2020 2011 2014 2016 2018 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 1

© Bureau van Dijk 2022
P/L before tax P/L [=Net Income]
14 8
12
6
10
8 4
6
2
4
2 0
0
-2
-2
-4 -4
2011 2014 2016 2018 2020 2011 2014 2016 2018 2020
Cash flow
12
10
2011 2014 2016 2018 2020
Activity
BvD major sector:
Transport
US SIC Core code:
Arrangement of transportation of freight and cargo (473)
NACE Rev. 2 Core code:
Other transportation support activities (5229)
NAICS 2012 Core code:
Freight Transportation Arrangement (4885)
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 2

Key information
ROYAL CARGO BLDG., NO.4 STA. AGUEDA AVE., Legal form: Corporation

PASCOR DR., BRGY. STO. NINO Activity: Corporate, Transport, Freight &
1704 Storage
Philippines Date of incorporation: 1997
Phone: +63 2 3333000

Operating revenue P/L [=Net Income] for 2020
(Turnover) for 2020
$ 1.72 m
$ 65.9 m -7.3%
Ownership PEPs and sanctions
9 shareholders This company is notthe same

5 subsidiaries or similar to a risk relevant
7 companies in the corporate name
group
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 3

Financial profile
Unconsolidated, Local registry filing
31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016

th USD th USD th USD th USD th USD
12 months 12 months 12 months 12 months 12 months
Local Local Local Local Local
GAAP GAAP GAAP GAAP GAAP
Exchange rate: PHP/USD 0.02082 0.01971 0.01897 0.02003 0.02008
Operating revenue 65,906 71,059 76,944 85,921 75,819
(Turnover)
P/L before tax 5,142 -2,307 8,295 11,350 12,029
P/L for period [=Net 1,722 -3,926 2,485 6,175 6,330

income]
Cash flow 11,323 4,522 6,778 10,953 9,588
Total assets 121,359 116,420 102,002 98,033 57,507
Shareholders funds 47,070 42,069 39,849 37,978 31,236
Current ratio (x) 1.02 0.86 0.84 1.11 1.24
Profit margin (%) 7.80 -3.25 10.78 13.21 15.87
ROE using P/L before tax 10.93 -5.48 20.82 29.89 38.51
(%)
ROCE using P/L before 10.09 1.60 13.79 17.49 32.23
tax (%)
Solvency ratio (Asset 38.79 36.14 39.07 38.74 54.32
based) (%)
Management News stories since last year
Mr Gregg P Laquiores 0 negative stories

Mr Rodolfo R Pomaris 0 stories in total
+ 14 more
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 4

Financial strength summary
Financial Reputational Environmental

High Quantitative Qualitative and effect
risk compliance
Low
risk
Falcon CRIF VadRisk WVB Albatross Compass RepRisk Trucost
4 767 2 B- 323 1.35
2020 2020 2020 2020 28/02/22 2020
Financial risk review summary
Financial
High Quantitative Qualitative
risk
Low
risk
MORE Reactive Qualitative
BB BB B
2020 11/07/22 26/07/22
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 5

Contact
Contact information
ROYAL CARGO BLDG., NO.4 STA. AGUEDA AVE., ISO territory code PH
PASCOR DR., BRGY. STO. NINO
1704 Region National Capital Region (NCR)
Philippines
District Southern Manila District (Pasay)
Phone: +63 2 3333000
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 6

Industry & activities
Type of entity: Corporate
BvD sector: Transport, Freight & Storage
NACE Rev. 2 main section: H - Transportation and storage
Products & services: Transportation and handling of cargo [source: Bureau van Dijk]
Filipino SIC 2010 code(s)

Primary code(s): 52291 Freight forwarding services
NACE Rev. 2 code(s) {derived from Filipino SIC 2010 codes}

Core code: 5229 Other transportation support activities
Primary code(s): 5229 Other transportation support activities
NAICS 2017 code(s) {derived from Filipino SIC 2010 codes}

Core code: 4885 Freight Transportation Arrangement
Primary code(s): 488510 Freight Transportation Arrangement
US SIC code(s) {derived from Filipino SIC 2010 codes}

Core code: 473 Arrangement of transportation of freight and cargo
Primary code(s): 4731 Arrangement of transportation of freight and cargo
Trade description
Freight forwarding services
Trade description in original language (Unknown)

Freight forwarding services
This company is primarily engaged in the transportation and handling of cargo. It provides specialized logistics in the fields
offreight forwarding, contract logistics, warehousing and distribution, cold storage and project and heavylift services -
withowned equipment and facilities. Its services include international freight forwarding, warehousing and distribution,
projectsand heavylifts, trucking, customs brokerage, moving and storage, freeport logistics, ecozone logistics, liquid solutions,
andshipping agency. The company's head office is located in Paranaque City, Philippines. Its Vision: To be a world-class
totallogistics provider offering specialized, high quality and cost efficient logistics solutions promptly, effectively and
professionallyat all times, anywhere. Its Mission: It is committed to its customers, its partners in a mutual journey of growth
and success; itaims to grow and profit with the knowledge that each customer it serves is fully satisfied; it adheres to the
concept ofreliability, competence, competitiveness and integrity; it is committed to being up-to-date with the latest technology
to keep upwith the demands of the global market; and it cares for the welfare of its employees, its community, and its
environment. The
company has other local offices located in Pampanga, Laguna, Subic, Cavite, Cebu, Alabang and Sucat. It also
hasinternational offices in Vietnam, Hong Kong, Cambodia, Singapore, Germany and the United Kingdom.
Active in 5 country(ies) or region(s), 1 strategic alliance(s)

Primary business line: Engaged in the transportation and handling of cargo
Main activity: Services
Main products and services: Transportation and handling of cargo
Strategy, organization and policy: To be a world-class total logistics provider offering specialized, high quality and cost
efficient logistics solutions promptly, effectively and professionally at all times, anywhere
Main domestic country: Philippines
Main foreign countries or regions: Vietnam; Hong Kong; Cambodia; Singapore; Germany and the United Kingdom
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 7

Identifiers
BvD ID number PHA199712529
BvD account number PHA199712529U
Orbis ID number 037508115
SEC registration number (Trade register number) A199712529
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 8

Legal information
Active(updated in Orbis on 04/02/2022) PEPs and sanctions

Status history This company is notthe same or similar to a
risk relevant name
History Status date Updated
in Orbis
Active 04/02/2022
Status unknown 21/01/2022
Active 12/06/2019
Status unknown 12/04/2017
Active
Corporation
Incorporated in 1997
Corporate
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 9

Accounting information
Information for this record is provided by CIBI Information, Inc. (last delivery: 25/07/2022)
Most recent accounts: 2020 Accounts published in: PHP

Available in Orbis since: 03/2022 Closing date: 31/12/2020
Types of account: Unconsolidated Filing type: Local registry filing
Available for: 10 years Accounting template: Corporate
Available account
31/12/2020 Unconsolidated, Local registry filing
Key indicators based on Unconsolidated, Local registry filing
Operating revenue
(Turnover) for 2020
$ 65.9 m -7.3%
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 10

Country profile
Philippines
General information
Series name 2025F 2024F 2023F 2022F
Population (m.) 114.2 112.9 111.6 110.2
GDP at constant $ rate (bil. USD) n.a. n.a. n.a. n.a.
GDP real growth rate (%) n.a. n.a. n.a. n.a.
GDP per head at constant $ rate (USD) n.a. n.a. n.a. n.a.
Inflation rate (%) n.a. n.a. 2.0 4.0
Budget balance (% of GDP) n.a. n.a. n.a. n.a.
Public debt (% of GDP) n.a. n.a. n.a. n.a.
Unemployment (% of labour force) n.a. n.a. n.a. 8.0
Current account balance (% of GDP) n.a. n.a. n.a. n.a.
Trade balance (% of GDP) n.a. n.a. n.a. n.a.
International reserves (bil. USD) n.a. n.a. n.a. 109
Forecast period
Source: Moody's Analytics
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 11

2021 2020 2019 2018 2017
108.8 107.3 105.8 104.2 102.5
358 396 373 351 328
n.a. 6.0 6.0 7.0 7.0
3,270 3,665 3,501 3,338 3,168
2.0 2.0 5.0 3.0 1.0
n.a. n.a. n.a. n.a. n.a.
n.a. 37.0 37.0 38.0 37.0
9.0 n.a. n.a. n.a. n.a.
n.a. 0.0 -3.0 -1.0 0.0
n.a. -12.0 -12.0 -9.0 -9.0
110 88 79 82 81
Additional information
Population (m.) Vital statistics: Projected population - Both sexes - All ages; (#)
Source: Philippine Statistics Authority: Mid-Year Population Based on 2015
POPCEN
GDP at constant $ rate (bil. World Development Indicators: GDP; (constant 2015 USD)

USD)
GDP real growth rate (%) World Development Indicators: GDP; (constant 2015 USD)

Source: The World Bank: World Development Indicators [NY.GDP.MKTP.KD]
GDP per head at constant $ World Development Indicators: GDP per capita; (constant 2015 USD)
rate (USD)
Inflation rate (%) Consumer price index: All items; (Index 2018=100; NSA)

Source: Philippine Statistics Authority: Table 1 - Monthly Consumer Price Index
[PCOICOP]; Moody's Analytics Estimated [Extended prior to JAN2018 using
CPITT_12UM.IPHL; CPITT_06UM.IPHL; and IMFIFSIPCPIUM.IPHL]
Budget balance (% of GDP)
Public debt (% of GDP) Global Debt Database: General government - Share of GDP; (%)

Source: International Monetary Fund (IMF): Global Debt Database
Unemployment (% of labour Labor: Unemployment rate; (%; NSA)

force)
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 12
Unemployment (% of labour Source: Philippine Statistics Authority: Employment Situation
force)
Current account balance (% of World Development Indicators: Current account balance; (% of GDP)
GDP) Source: The World Bank: World Development Indicators [BN.CAB.XOKA.GD.ZS]
Trade balance (% of GDP) World Development Indicators: External balance on goods and services; (% of

GDP)
International reserves (bil. International Financial Statistics: International reserves - Official reserve assets;

USD) (USD)
Source: International Monetary Fund (IMF): International Financial Statistics (IFS)
[RAFA_USD]
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 13

Key financials & employees
31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012

th USD th USD th USD th USD th USD th USD
12 months 12 months 12 months 12 months 12 months 12 months
Local GAAP Local GAAP Local GAAP Local GAAP Local GAAP Local GAAP
Exchange rate: PHP/USD 0.02082 0.01971 0.01897 0.02003 0.02008 0.02428
∟ Operating revenue 65,906 71,059 76,944 85,921 75,819 34,304
(Turnover)
∟ P/L before tax 5,142 -2,307 8,295 11,350 12,029 4,025
∟ P/L for period [=Net 1,722 -3,926 2,485 6,175 6,330 2,449
income]
∟ Cash flow 11,323 4,522 6,778 10,953 9,588 4,472
∟ Total assets 121,359 116,420 102,002 98,033 57,507 36,244
∟ Shareholders funds 47,070 42,069 39,849 37,978 31,236 12,365
∟ Current ratio (x) 1.02 0.86 0.84 1.11 1.24 1.07
∟ Profit margin (%) 7.80 -3.25 10.78 13.21 15.87 11.74

∟ ROE using P/L before 10.93 -5.48 20.82 29.89 38.51 32.56
tax (%)
∟ ROCE using P/L 10.09 1.60 13.79 17.49 32.23 23.89
before tax (%)
∟ Solvency ratio (Asset 38.79 36.14 39.07 38.74 54.32 34.12
based) (%)
∟ Number of employees n.a. n.a. n.a. n.a. n.a. n.a.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 14

31/12/2011 31/12/2010 31/12/2009 31/12/2008
th USD th USD th USD th USD
12 months 12 months 12 months 12 months
Local GAAP Local GAAP Local GAAP Local GAAP
Exchange rate: PHP/USD 0.02276 0.02279 0.02157 0.02106
∟ Operating revenue 23,368 14,628 11,979 10,637
(Turnover)
∟ P/L before tax 2,557 1,216 1,119 750
∟ P/L for period [=Net 1,878 905 922 518
income]
∟ Cash flow 3,309 1,775 1,425 918
∟ Total assets 25,719 17,640 13,352 8,778
∟ Shareholders funds 8,809 6,761 5,419 2,709
∟ Current ratio (x) 1.14 1.29 0.85 1.01
∟ Profit margin (%) 10.94 8.31 9.34 7.05

∟ ROE using P/L before 29.02 17.98 20.66 27.69
tax (%)
∟ ROCE using P/L 21.53 13.51 18.10 21.84
before tax (%)
∟ Solvency ratio (Asset 34.25 38.33 40.59 30.86
based) (%)
∟ Number of employees n.a. n.a. n.a. n.a.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 15

Global standard format
31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012

Balance sheet
Assets
Fixed assets 80,849 82,154 75,246 65,562 33,426 19,042
∟ Intangible fixed assets 5,143 102 123 48 28 0
∟ Tangible fixed assets 56,900 66,006 59,060 49,281 25,186 14,885
∟ Other fixed assets 18,806 16,045 16,063 16,233 8,212 4,157
Current assets 40,510 34,266 26,756 32,471 24,081 17,202
∟ Stock 0 0 0 0 0 0
∟ Debtors 17,757 19,862 16,594 26,753 19,920 9,733
∟ Other current assets 22,753 14,404 10,162 5,718 4,161 7,469

∟ Cash & cash 7,944 2,263 2,784 1,878 2,040 1,627
equivalent
Total assets 121,359 116,420 102,002 98,033 57,507 36,244
Liabilities & equity
Shareholders funds 47,070 42,069 39,849 37,978 31,236 12,365
∟ Capital 20,839 19,727 18,986 20,051 20,095 7,075

∟ Other shareholders 26,232 22,343 20,863 17,927 11,141 5,290
funds
Non-current liabilities 34,714 34,617 30,330 30,916 6,765 7,730
∟ Long term debt 32,560 34,427 29,325 29,554 5,434 5,863

∟ Other non-current 2,154 190 1,006 1,362 1,331 1,867
liabilities
∟ Provisions 0 0 0 0 0 0
Current liabilities 39,574 39,733 31,823 29,140 19,506 16,150
∟ Loans 27,583 25,251 14,155 8,809 4,855 8,272
∟ Creditors 11,809 6,354 8,823 9,674 7,856 3,846
∟ Other current liabilities 183 8,128 8,844 10,656 6,795 4,032

Total shareh. funds & 121,359 116,420 102,002 98,033 57,507 36,244
liab.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 16

31/12/2011 31/12/2010 31/12/2009 31/12/2008
Balance sheet
Assets
Fixed assets 13,906 9,879 8,064 4,241
∟ Intangible fixed assets 0 0 0 4
∟ Tangible fixed assets 10,547 7,151 5,753 1,480
∟ Other fixed assets 3,359 2,728 2,311 2,758
Current assets 11,813 7,761 5,288 4,537
∟ Stock 0 0 0 0
∟ Debtors 7,359 4,747 3,430 3,372
∟ Other current assets 4,454 3,014 1,857 1,165

∟ Cash & cash 899 207 1,330 400
equivalent
Total assets 25,719 17,640 13,352 8,778
Liabilities & equity
Shareholders funds 8,809 6,761 5,419 2,709
∟ Capital 5,705 5,710 5,406 3,593

∟ Other shareholders 3,104 1,050 13 -884
funds
Non-current liabilities 6,498 4,866 1,672 1,593
∟ Long term debt 4,381 2,844 428 228

∟ Other non-current 2,117 2,021 1,245 1,365
liabilities
∟ Provisions 0 0 0 0
Current liabilities 10,412 6,013 6,261 4,476
∟ Loans 2,473 2,233 2,508 881
∟ Creditors 3,200 1,704 1,264 1,557
∟ Other current liabilities 4,738 2,077 2,489 2,038

Total shareh. funds & 25,719 17,640 13,352 8,778
liab.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 17

31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012
Memo lines
∟ Working capital 5,948 13,508 7,771 17,079 12,064 5,888
∟ Net current assets 936 -5,467 -5,067 3,332 4,575 1,053
∟ Enterprise value n.a. n.a. n.a. n.a. n.a. n.a.
∟ Number of employees n.a. n.a. n.a. n.a. n.a. n.a.
Profit & loss account

∟ Operating revenue 65,906 71,059 76,944 85,921 75,819 34,304
(Turnover)
∟ Sales 65,906 71,059 76,944 85,921 75,819 34,304
∟ Costs of goods sold 49,988 58,492 61,015 68,099 58,499 26,731
∟ Gross profit 15,918 12,567 15,929 17,823 17,319 7,573

∟ Other operating 7,128 7,136 5,899 5,698 5,025 2,766
expenses
∟ Operating P/L [=EBIT] 8,791 5,432 10,030 12,125 12,295 4,807
∟ Financial P/L -3,648 -7,739 -1,735 -775 -265 -782
∟ Financial revenue -95 -212 -352 -79 -49 -6
∟ Financial expenses 3,553 7,527 1,383 697 216 776
∟ P/L before tax 5,142 -2,307 8,295 11,350 12,029 4,025
∟ Taxation 1,240 -327 2,096 3,818 3,596 800
∟ P/L after tax 3,902 -1,980 6,199 7,531 8,433 3,226
∟ Extr. and other P/L -2,180 -1,946 -3,714 -1,357 -2,104 -777
∟ Extr. and other -501 -1,946 -1,267 -1,320 -1,069 -51
revenue
∟ Extr. and other 1,679 0 2,447 36 1,034 726
expenses
∟ P/L for period [=Net 1,722 -3,926 2,485 6,175 6,330 2,449
income]
Memo lines
∟ Export revenue n.a. n.a. n.a. n.a. n.a. n.a.
∟ Material costs n.a. n.a. n.a. n.a. n.a. n.a.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 18

31/12/2011 31/12/2010 31/12/2009 31/12/2008
Memo lines
∟ Working capital 4,159 3,043 2,166 1,815
∟ Net current assets 1,401 1,747 -973 61
∟ Enterprise value n.a. n.a. n.a. n.a.
∟ Number of employees n.a. n.a. n.a. n.a.
Profit & loss account

∟ Operating revenue 23,368 14,628 11,979 10,637
(Turnover)
∟ Sales 23,368 14,628 11,979 10,637
∟ Costs of goods sold 18,164 11,141 9,063 8,406
∟ Gross profit 5,204 3,488 2,916 2,231

∟ Other operating 1,903 1,863 1,634 1,311
expenses
∟ Operating P/L [=EBIT] 3,301 1,625 1,281 921
∟ Financial P/L -744 -409 -162 -170
∟ Financial revenue -5 -5 2 19
∟ Financial expenses 739 404 164 189
∟ P/L before tax 2,557 1,216 1,119 750
∟ Taxation 603 260 317 377
∟ P/L after tax 1,954 955 802 373
∟ Extr. and other P/L -76 -51 120 144

∟ Extr. and other -76 -51 138 167
revenue
∟ Extr. and other 0 0 18 23
expenses
∟ P/L for period [=Net 1,878 905 922 518
income]
Memo lines
∟ Export revenue n.a. n.a. n.a. n.a.
∟ Material costs n.a. n.a. n.a. n.a.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 19

31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012
∟ Costs of employees n.a. n.a. n.a. n.a. n.a. n.a.

∟ Depreciation & 9,601 8,448 4,293 4,778 3,258 2,022
Amortization
∟ Other operating items n.a. n.a. n.a. n.a. n.a. n.a.
∟ Interest paid 3,110 3,538 1,383 697 216 776

∟ Research & n.a. n.a. n.a. n.a. n.a. n.a.
Development expenses
∟ Cash flow 11,323 4,522 6,778 10,953 9,588 4,472
∟ Added value 15,673 7,732 10,257 15,467 13,400 6,047
∟ EBITDA 18,392 13,880 14,322 16,902 15,553 6,829
31/12/2011 31/12/2010 31/12/2009 31/12/2008

∟ Costs of employees n.a. n.a. n.a. n.a.

∟ Depreciation & 1,431 870 503 400
Amortization
∟ Other operating items n.a. n.a. n.a. n.a.
∟ Interest paid 739 356 164 189

∟ Research & n.a. n.a. n.a. n.a.
Development expenses
∟ Cash flow 3,309 1,775 1,425 918
∟ Added value n.a. n.a. n.a. n.a.
∟ EBITDA 4,732 2,495 1,784 1,321
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 20

Global ratios
31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012

Profitability ratios
∟ ROE using P/L before 10.93 -5.48 20.82 29.89 38.51 32.56
tax (%)
∟ ROCE using P/L 10.09 1.60 13.79 17.49 32.23 23.89
before tax (%)
∟ ROA using P/L before 4.24 -1.98 8.13 11.58 20.92 11.11
tax (%)
∟ ROE using Net 3.66 -9.33 6.24 16.26 20.26 19.81
income (%)
∟ ROCE using Net 5.91 -0.51 5.51 9.97 17.23 16.05
income (%)
∟ ROA using Net 1.42 -3.37 2.44 6.30 11.01 6.76
income (%)
∟ Profit margin (%) 7.80 -3.25 10.78 13.21 15.87 11.74
∟ Gross margin (%) 24.15 17.69 20.70 20.74 22.84 22.08
∟ EBITDA margin (%) 27.91 19.53 18.61 19.67 20.51 19.91
∟ EBIT margin (%) 13.34 7.64 13.04 14.11 16.22 14.01

∟ Cash flow / Operating 17.18 6.36 8.81 12.75 12.65 13.04
revenue (%)
∟ Enterprise value / n.a. n.a. n.a. n.a. n.a. n.a.
EBITDA (x)
∟ Market cap / Cash n.a. n.a. n.a. n.a. n.a. n.a.
flow from operations (x)
Operational ratios
∟ Net assets turnover 0.81 0.93 1.10 1.25 2.00 1.71
(x)
∟ Interest cover (x) 2.83 1.54 7.25 17.41 56.81 6.20
∟ Stock turnover (x) n.s. n.s. n.s. n.s. n.s. n.s.

∟ Collection period 97 101 78 112 95 102
(days)
∟ Credit period (days) 65 32 41 41 37 40
∟ Export revenue / n.a. n.a. n.a. n.a. n.a. n.a.
Operating revenue (%)
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 21

31/12/2011 31/12/2010 31/12/2009 31/12/2008
Profitability ratios
∟ ROE using P/L before 29.02 17.98 20.66 27.69
tax (%)
∟ ROCE using P/L 21.53 13.51 18.10 21.84
before tax (%)
∟ ROA using P/L before 9.94 6.89 8.38 8.54
tax (%)
∟ ROE using Net 21.32 13.38 17.02 19.11
income (%)
∟ ROCE using Net 17.10 10.84 15.31 16.44
income (%)
∟ ROA using Net 7.30 5.13 6.91 5.90
income (%)
∟ Profit margin (%) 10.94 8.31 9.34 7.05
∟ Gross margin (%) 22.27 23.84 24.34 20.98
∟ EBITDA margin (%) 20.25 17.06 14.89 12.42
∟ EBIT margin (%) 14.13 11.11 10.70 8.65

∟ Cash flow / Operating 14.16 12.13 11.89 8.63
revenue (%)
∟ Enterprise value / n.a. n.a. n.a. n.a.
EBITDA (x)
∟ Market cap / Cash n.a. n.a. n.a. n.a.
flow from operations (x)
Operational ratios
∟ Net assets turnover 1.53 1.26 1.69 2.47
(x)
∟ Interest cover (x) 4.47 4.57 7.82 4.86
∟ Stock turnover (x) n.s. n.s. n.s. n.s.

∟ Collection period 113 117 103 114
(days)
∟ Credit period (days) 49 42 38 53
∟ Export revenue / n.a. n.a. n.a. n.a.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 22

31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016 31/12/2012
∟ R&D expenses / n.a. n.a. n.a. n.a. n.a. n.a.
Structure ratios
∟ Current ratio (x) 1.02 0.86 0.84 1.11 1.24 1.07
∟ Liquidity ratio (x) 1.02 0.86 0.84 1.11 1.24 1.07

∟ Shareholders liquidity 1.36 1.22 1.31 1.23 4.62 1.60
ratio (x)
∟ Solvency ratio (Asset 38.79 36.14 39.07 38.74 54.32 34.12
based) (%)
∟ Solvency ratio 63.36 56.58 64.11 63.24 n.s. 51.78
(Liability based) (%)
∟ Gearing (%) 132.35 142.31 111.64 104.60 37.20 129.41
Per employee ratios

∟ Profit per employee n.a. n.a. n.a. n.a. n.a. n.a.
(th)
∟ Operating revenue per n.a. n.a. n.a. n.a. n.a. n.a.
employee (th)
∟ Costs of employees / n.a. n.a. n.a. n.a. n.a. n.a.
∟ Average cost of n.a. n.a. n.a. n.a. n.a. n.a.
employee (th)
∟ Shareholders funds n.a. n.a. n.a. n.a. n.a. n.a.
per employee (th)
∟ Working capital per n.a. n.a. n.a. n.a. n.a. n.a.
employee (th)
∟ Total assets per n.a. n.a. n.a. n.a. n.a. n.a.
employee (th)
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 23

31/12/2011 31/12/2010 31/12/2009 31/12/2008
∟ R&D expenses / n.a. n.a. n.a. n.a.
Structure ratios
∟ Current ratio (x) 1.14 1.29 0.85 1.01
∟ Liquidity ratio (x) 1.14 1.29 0.85 1.01

∟ Shareholders liquidity 1.36 1.39 3.24 1.70
ratio (x)
∟ Solvency ratio (Asset 34.25 38.33 40.59 30.86
based) (%)
∟ Solvency ratio 52.09 62.14 68.31 44.63
(Liability based) (%)
∟ Gearing (%) 101.84 105.00 77.14 91.32
Per employee ratios

∟ Profit per employee n.a. n.a. n.a. n.a.
(th)
∟ Operating revenue per n.a. n.a. n.a. n.a.
employee (th)
∟ Costs of employees / n.a. n.a. n.a. n.a.
∟ Average cost of n.a. n.a. n.a. n.a.
employee (th)
∟ Shareholders funds n.a. n.a. n.a. n.a.
per employee (th)
∟ Working capital per n.a. n.a. n.a. n.a.
employee (th)
∟ Total assets per n.a. n.a. n.a. n.a.
employee (th)
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 24

Graph - Value over time
90,000 ● Operating revenue

(Turnover) (th USD)
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
th USD
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 25

Graph - Indices of several values over time
Base: 2008
1,800
Operating revenue (Turnover) (m USD) 10.6
1,600 P/L before tax (th USD) 750
1,400 P/L for period [=Net income] (th USD) 518
1,200 Cash flow (th USD) 918
Total assets (m USD) 8.78

1,000
800
600
400
200
0
2008 2011 2014 2017 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 26

Peer comparison
Year Operating revenue P/L before tax

Accounting year: Peer group year
(Turnover)
th USD th USD
Median 65,906 3,309
Standard deviation 213 1,881
Average 65,875 2,882
ABREU - CARGA E TRANSITOS, LDA 2020 65,929 5 2,269 6

SIAM NISTRANS CO LTD 2020 65,554 11 3,343 4
TMF OPERATING 2020 66,198 1 1,467 7
MOLD TRANS SL 2020 66,176 2 290 8
HONOLD CONTRACT LOGISTICS GMBH 2020 65,970 4 4,289 3
ROYAL CARGO, INC. 2020 65,906 6 5,142 2
SUZHOU LOGISTICS CENTER CO., LTD. 2020 65,755 7 n.a.
JILIN ANGUANG LOGISTICS CO.,LTD 2020 65,702 8 3,309 5
HEILONGJIANG JINGU LOGISTICS CO., LTD. 2020 65,689 9 5,676 1
PUTIAN SHUNFENGSUYUN CO.,LTD 2020 65,635 10 n.a.
O EMU SHI, KD 2020 66,108 3 152 9
Year P/L for period [=Net Total assets
income]
th USD th USD
Median 2,412 38,253
Standard deviation 5,433 85,010
Average 4,191 68,778
ABREU - CARGA E TRANSITOS, LDA 2020 1,699 8 34,541 7

SIAM NISTRANS CO LTD 2020 2,567 5 43,887 4
TMF OPERATING 2020 1,215 9 42,429 5
MOLD TRANS SL 2020 197 10 23,817 10
HONOLD CONTRACT LOGISTICS GMBH 2020 2,885 4 32,631 9
ROYAL CARGO, INC. 2020 1,722 7 121,359 2
SUZHOU LOGISTICS CENTER CO., LTD. 2020 19,542 1 324,538 1
JILIN ANGUANG LOGISTICS CO.,LTD 2020 2,412 6 45,408 3
HEILONGJIANG JINGU LOGISTICS CO., LTD. 2020 4,268 3 38,253 6
PUTIAN SHUNFENGSUYUN CO.,LTD 2020 9,470 2 33,898 8
O EMU SHI, KD 2020 125 11 15,795 11
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 27

Year Shareholders funds Number of employees
th USD
Median 24,412 127
Standard deviation 61,975 319
Average 38,880 239
ABREU - CARGA E TRANSITOS, LDA 2020 13,413 7 177 4

SIAM NISTRANS CO LTD 2020 32,101 3 n.a.
TMF OPERATING 2020 8,538 9 n.a.
MOLD TRANS SL 2020 4,098 10 201 3
HONOLD CONTRACT LOGISTICS GMBH 2020 25,891 5 336 2
ROYAL CARGO, INC. 2020 47,070 2 n.a.
SUZHOU LOGISTICS CENTER CO., LTD. 2020 230,613 1 77 5
JILIN ANGUANG LOGISTICS CO.,LTD 2020 10,895 8 51 6
HEILONGJIANG JINGU LOGISTICS CO., LTD. 2020 28,077 4 22 7
PUTIAN SHUNFENGSUYUN CO.,LTD 2020 24,412 6 1,039 1
O EMU SHI, KD 2020 2,572 11 9 8
Peer group definition
Closest 10 international companies according to the Operating revenue (Turnover) of the subject company for the last
available year (2020) amongst the standard peer group.
The standard peer group is based on NACE Rev. 2 industry classification: 5229 - Other transportation support activities.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 28

Company ratings
No data available for this company
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 29

Country ratings
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 30

Financial Reputational Environmental

High Quantitative Qualitative and effect
risk compliance
Low
risk
Falcon CRIF VadRisk WVB Albatross Compass RepRisk Trucost
4 767 2 B- 323 1.35
2020 2020 2020 2020 28/02/22 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 31

Falcon counterparty risk score by Zanders
Probability of default: 1.61%
Credit limit: 1,141,202 $
Industry: Transportation and storage

10 1
4 - Sufficient
for 2020
Evolution over time
High risk 1
2
3
4
5
6
7
8
9
Low risk 10
2011 2017 2018 2019 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 32

Evolution over time (Tabular view)
2011 2017 2018 2019 2020
Counterparty Risk Score (CRS) 6 6 5 3 4
Probability of default (%) 0.66 0.66 1.01 2.75 1.61
Falcon credit limit (th $) 401 n.a. n.a. n.a. 1,141
Observations
2020 Original currency is not EUR
2019 Data is older than 2 years

Original currency is not EUR


2011 Original currency is not EUR
Falcon influencing ratios
2011 2017 2018 2019 2020
Operations and Liquidity
Turnover growth 9 3 2 2 1
Return on sales 9 9 7 0 6
Current ratio 4 4 3 3 4
Debtor days 2 2 2 2 2
Debt services
Interest coverage ratio 8 9 9 6 7
Debt/EBITDA 1 0 0 0 0
Capital structure
Gearing 4 4 3 2 2
Solvency 5 6 6 5 5
Tangible net worth 8 10 10 10 10
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 33

Financial stability score by CRIF Decision Solutions Ltd
Key influencing factor Asset management efficiency
Scores for peer group 245 Minimum

586 Average
795 Maximum
1000 1
Industry Other transportation support activities
767
for 2020
Evolution over time
High risk 1
100
200
300
400
500
600
700
800
900
Low risk 1000
2012 2017 2018 2019 2020
Legend
Peer group reference value (only average in graph)
2012 2017 2018 2019 2020
Company 777 767 787 564 767
- Financial leverage - Financial leverage - Financial leverage - Profitability - Asset
Key factors - Asset - Asset management
management management efficiency
efficiency efficiency
- Financial leverage
Peer group
Minimum 245 267 267 267 265
Average 586 576 575 587 583
Maximum 795 795 795 795 795
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 34

Predictive indicators by Vadis
Propensity of bankruptcy Key influencing factors:
Evolution of taxation
Extraordinary revenue
Evolution of credit period (company's group financials)
Shareholders funds / total shareholders funds
1 9 Company's age
Risk of bankruptcy lower than

national average
for 2020
Propensity to be sold
A5 A1
n.a.
Evolution over time
High risk 9
8
7
6
5
4
3
2
Low risk 1
2012 2017 2018 2019 2020
2012 2017 2018 2019 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 35

Propensity of bankruptcy 2 3 3 2 2
Evolution of Evolution of Evolution of Evolution of Evolution of
Key influencing factors gross margin interest paid taxation taxation taxation
Extraordinary (company's Extraordinary Extraordinary Extraordinary
revenue group revenue revenue revenue
Legal form financials) Shareholders Shareholders Evolution of
Evolution of funds / total funds / total credit period
Shareholders
taxation shareholders shareholders (company's
funds / total
shareholders Extraordinary funds funds group
funds revenue Company's age Company's age financials)
Shareholders Shareholders
Evolution of Evolution of Evolution of
funds / total funds / total
cash flow / extraordinary export turnover
shareholders shareholders
operating expenses (company's
funds funds
revenue sector
Company's age financials) Company's age
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 36

Global score by WVB
A D
B- - Medium &
vulnerable
for 2020
Evolution over time
High risk D
C
B-
B
B+
Low risk A
2011 2012 2018 2019 2020
2011 2012 2018 2019 2020
WVB Global score C C B- B- B-
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 37

Compass score merchant risk by G2
Key influencing factors:
- Monitored without incident for less than 1 year, last monitored between 4 and 12
months ago
- No risk indicators found for this merchant
1 1000
323
on 28/02/2022
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 38

Environmental score by Trucost
1
0% ≥ 100%
0.5
1.35%
for 2020
Legend
Greenhouse Waste Land & water pollutants
gases
Air pollutants Natural resources used
Water
Subject company values
Sector average values
Industry: Support activities for transportation
Evolution over time
High risk 100
90
80
70
60
50
40
30
20
10
Low risk 0
2018 2019 2020
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 39

2018 2019 2020
Environmental score (%) 1.96 2.09 1.35
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 40

Financial
High Quantitative Qualitative
risk
Low
risk
MORE Reactive Qualitative
BB BB B
2020 11/07/22 26/07/22
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 41

MORE credit risk score by modeFinance
Probability of default: 2.30%
Credit limit: 1,030,763 $
Industry: Services
AAA D
BB - Adequate
for 2020
Confidence level: 100%
Evolution over time
High risk D
C
CC
CCC
B
BB
BBB
A
AA
Low risk AAA
2016 2017 2018 2019 2020
Legend
MORE comparison peer group
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 42

2016 2017 2018 2019 2020
Score
Company A BB BB B BB
Peer group BB BBB BB BB BBB
Probability of default (%)
Company 0.20 0.95 1.10 5.30 2.30
Peer group 1.10 0.60 1.00 0.85 0.45
Confidence level (%)
Company 100 100 100 100 100
Credit limit (th $)
Company n.a. n.a. n.a. 876 1,031
MORE influencing ratios
2016 2017 2018 2019 2020
Solvency ratios
Leverage ratio AA B B B B
Assets to debt AAA A A A A
Liquidity ratios
Current ratio BBB BB BB BB BB
Quick ratio BBB BBB BB BB BB
Cash conversion cycle (CCC) B CCC A B B
Profitability and economic ratios
Return on investment (ROI) AA BBB BB B BB
Return on equity (ROE) BBB BBB B D B
Asset turnover A BB BB B B
Profit margin CCC CCC CCC CCC CCC
Interest coverage ratio
Interest paid coverage A BBB BB B B
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 43

Reactive MORE credit risk score by modeFinance
Reactive probability of default: 1.10%
Reactive credit limit: 887,773 $
AAA D Scenario: Moderately negative
Country impact: Moderately positive

BB - Adequate
Sector impact: Extremely negative
on 11/07/2022
Size impact: No scenario change
Reactive confidence level:

50%
Evolution over time
High risk D
C
CC
CCC
B
BB
BBB
A
AA
Low risk AAA
Mar Apr May Jun Jul
2022
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 44

March April May June July
2022 2022 2022 2022 2022
Reactive score
Company BB BB BB BB BB
Reactive probability of default (%)
Company 1.20 2.30 1.10 1.10 1.10
Reactive confidence level (%)
Company 100 50 50 50 50
Reactive credit limit (th $)
Company 918 886 911 911 888
Reactive MORE influencing ratios
March April May June July
2022 2022 2022 2022 2022
Reactive solvency ratios
Leverage ratio (reactive) AA AA AA AA AA
Financial leverage ratio (reactive) B B B B B
Assets to debt (reactive) AA AA AA AA AA
Reactive liquidity ratios
Current ratio (reactive) BB BB BB BB BB
Quick ratio (reactive) BBB BBB BBB BBB BBB
Cash conversion cycle (CCC) (reactive) CCC B B B B
Reactive profitability and economic ratios
Return on investment (ROI) (reactive) BB BB BB BB BB
Return on equity (ROE) (reactive) B BB BB BB BB
Asset turnover (reactive) BB BB BB BB BB
EBITDA sales ratio (reactive) BB BB BB BB BB
Reactive interest coverage ratio
EBIT interest paid coverage (reactive) B BB BB BB BB
EBITDA interest paid coverage (reactive) BB BB BB BB BB
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 45

Qualitative score by modeFinance
Credit limit: n.a.
No Qualitative credit limit has been calculated
because a recent MORE credit limit is available for
this company.
A E
Key influencing factors: B - GUO MORE score / status
B - Satisfactory B - Subsidiaries average MORE score / status
A - Size of the GUO
on 26/07/2022
Industry score: C
Confidence level: 66.0%
Evolution over time
High risk E
Low risk A
2018 2019 2020 2021 2022
Legend
Industry score
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 46

2018 2019 2020 2021 26/07/2022
Qualitative score B B B C B
Confidence level (%) 65 65 66 66 66
Credit limit
Industry score C C C C C
Credit limit annotations
26/07/2022 No Qualitative credit limit has been calculated because a recent MORE credit
limit is available for this company.
2021 No Qualitative credit limit has been calculated because a recent MORE credit
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 47

Managed funds
There is no available data for this entity set
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 48

Funds overview
There is no available data for this entity.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 49

Current directors & managers
Boards & committees 16 | 1
Boards of directors 1
MR GREGG P LAQUIORES
BI
Chairman and Chief Executive Officer
MR RODOLFO R POMARIS
BI
MR ROBERTO J TEODOSIO
Chairman BI
+ 2 other roles
MS VERONICA V TEODOSIO
BI
Chairman
MS VIRGINIA V YUTUC
Chairman BI
+ 1 other role
MS SHARON T FUENTEBELLA
BI
Director
MR WARLITO P LAQUIORES
BI
President / Director
MS RAQUEL L LAQUIORES
BI
Director
MR ALEJO EDMINEIL FORMANTES NAPENAS
BI
Director
MS EMILIANA D POMARIS
BI
MR CHRISTIAN K RAEUBER
Director BI
Also shareholder
MR SEBASTIAN K RAEUBER
Director BI
Also shareholder
MS LENY U RAEUBER
Director BI
Also shareholder
MR ROBERTO MARI TEODOSIO
BI
Director
MS BIANCA MARIE V TEODOSIO
President / Director BI
+ 1 other role
MS VERONICA TEODOSIO
BI
Director
Management & staff 16 | 1
Senior Management 1
MR GREGG P LAQUIORES
Chairman and Chief Executive Officer BI
+ 1 other role
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 50

MR RODOLFO R POMARIS
BI
MR MICHAEL K RAEUBER
Group Chief Executive Officer BI
Also shareholder
MR WARLITO P LAQUIORES
BI
MS EMILIANA D POMARIS
+ 1 other role
MR ELMER FRANCISCO U SARMIENTO
President BI
Also shareholder
MR ROBERTO J TEODOSIO
+ 1 other role
MS BIANCA MARIE V TEODOSIO
+ 2 other roles
MS VIRGINIA V YUTUC
+ 1 other role
MS RAQUEL L LAQUIORES
BI
Corporate Secretary
ROVILLE C SUNGA
BI
Corporate Secretary
MR ROBERTO MARI TEODOSIO
BI
Corporate Secretary
MR RODOLFO E POMARIS
BI
Treasurer
Finance & Accounting
MR ANDREW K RAEUBER
Dep. COO / Treasurer BI
Also shareholder
MS VERONICA V TEODOSIO
BI
COO and Treasurer
Operations &
Production & Mfg
MARK BOSCO PETER N KHAMBATTA
BI
Chief Operating Officer
Legend
There are names that are the same, or similar to, a risk relevant name
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 51

Source
BI:CIBI Information
Filters
Formal sources
Bodies & departments
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 52

Current auditors, bankers & other advisors
Auditors
SYCIP GORRES VELAYO & CO.
BI
Auditor
Source
BI:CIBI Information
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 53

Previous auditors, bankers & other advisors
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 54

Ownership structure
Graph : Shareholders
MR Elmer Francisco U.
MR Michael K. Raeuber MRS Leny Raeuber MRS EVA de Leon Sunga Loida F. Tasis MR Andrew K Raeuber MR Christian K. Raeuber MR Cesar B. Ambalada JR. MR Sebastian K. Raeuber
Sarmiento
PH PH PH PH PH PH PH PH PH
25.00/n.a. 30.50/n.a. 0.50/n.a. 2.50/n.a. 10.00/n.a. 10.00/n.a. 1.00/n.a.

10.50/n.a. 10.00/n.a.
Royal Cargo, Inc.
PH
All 9 shareholders and the controlling shareholder path are represented.

Legend
Company Node Direct / Total ownership %
Controlling shareholder x/x Direct / Total ownership %
↔
BR Branch
An individual
CQP1 50% + 1 Share
Beneficial Owner CTP Calculated total percentage
DM Director / Manager
Global Ultimate Owner
FC Foreign company
There are names that are the same, or GP General partner
similar to, a risk relevant name JO Jointly owned, = 50 %
MO Majority owned, > 50%
Entity type n.a. Not available
NG Negligible, <= 0.01%
A Insurance company.
REG Beneficial Owner from register, = 100%
B Bank.
T Sole trader, = 100 %
C Corporate.
VE Vessel
D Unnamed private
shareholders, aggregated. WO Wholly owned, >= 98%
E Mutual & Pension
Fund/Nominee/Trust/Trustee.
F Financial company.
H Self ownership.
I One or more named
individuals or families.
J Foundation/Research
Institute.
L Other unnamed
shareholders, aggregated.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 55

M Employees/Managers/Directors.
P Private Equity firm.
Q Branch.
S Public authority, State,
Government.
V Venture capital.
W Marine Vessel.
Y Hedge fund.
Z Public (publicly listed
companies).
Ultimate Owner definition
The path from the company to its Ultimate Owner is minimum 25.01%
I consider a company the Ultimate Owner if there are no identified shareholders or if the shareholder percentage is not
known.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 56

Geographic footprint
Number of companies in the corporate group per country
The map represents the geographic location of the companies in the corporate group
All 7 companies in the corporate group are represented
Legend
Number of entities by country Country of both the company and the GUO
■ More than 1
■ Less than 1
known.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 57

Corporate group
There are 7 companies in the corporate group

Ownership Level of Info
Name Country
Direct % Total % own. Source
MRS LENY RAEUBER PH
Ultimately owned subsidiaries
ROYAL CARGO, INC. PH 30.50 n.a. 1 WW
LIMA LOGISTICS CORPORATION PH - NG 1 BI
Name
Date
MRS LENY RAEUBER
Ultimately owned subsidiaries
ROYAL CARGO, INC. 05/2022
LIMA LOGISTICS CORPORATION 06/2018
Legend
NG = Negligible (< 0.01%)
known.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 58

Beneficial Owners
Beneficial Owners (6)
MR ANDREW K RAEUBER
Philippines Distance: 1
Name Country Ownership Ownership Source

Direct % Total %
MR ANDREW K RAEUBER PH 10.00 n.a. WW 05/2022
ROYAL CARGO, INC. PH
MR CHRISTIAN K. RAEUBER

Direct % Total %
MR CHRISTIAN K. RAEUBER PH 10.00 n.a. WW 05/2022
MR ELMER FRANCISCO U. SARMIENTO

Direct % Total %
MR ELMER FRANCISCO U. SARMIENTO PH 10.50 n.a. WW 05/2022
MR MICHAEL K. RAEUBER

Direct % Total %
MR MICHAEL K. RAEUBER PH 25.00 n.a. WW 05/2022
MR SEBASTIAN K. RAEUBER

Direct % Total %
MR SEBASTIAN K. RAEUBER PH 10.00 n.a. WW 05/2022
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 59

MRS LENY RAEUBER

Direct % Total %
MRS LENY RAEUBER PH 30.50 n.a. WW 05/2022
Other Ultimate Beneficiary (0)
This company has no Other Ultimate Beneficiaries.
Beneficial Owner from register (0)

There is no register available for this country
Legend
Also a manager There are names that are the same, or similar to, a risk
relevant name
Beneficial Owner definition
The minimum percentage of ownership at first level is 10.00%, the minimum percentage at further levels is 10.00%.
I also consider any individual at the top of a path who has an unknown percentage of ownership (% such as ‘>x%’ are
considered unknown)
I also consider any individual at the top of a path who has a percentage of minimum 10.00% (with the requested 10.00% at
all other levels).
Beneficial Owners from register are not subject to the defined thresholds.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 60

Controlling shareholders
BvD independence indicator
B C B - No majority ownership
Has no identified shareholder with over 50% ownership, but at least one with
A D over 25%
Confidence level: high
Ownership Info Op. Rev.

Name Country Type
Direct % Total % Source Date (m USD)
MRS LENY RAEUBER PH I 30.50 n.a. WW 05/2022 -
ROYAL CARGO, INC. PH C 66
No of
Name
employees
MRS LENY RAEUBER -

ROYAL CARGO, INC. n.a.
Legend
Also a manager I = One or more named individuals or families
C = Corporate
known.
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 61

Current shareholders

Name Country Type
MRS LENY RAEUBER PH I 30.50 n.a. WW 05/2022 -
MR MICHAEL K. RAEUBER PH I 25.00 n.a. WW 05/2022 -
MR ELMER FRANCISCO U. SARMIENTO PH I 10.50 n.a. WW 05/2022 -
MR ANDREW K RAEUBER PH I 10.00 n.a. WW 05/2022 -
MR CHRISTIAN K. RAEUBER PH I 10.00 n.a. WW 05/2022 -
MR SEBASTIAN K. RAEUBER PH I 10.00 n.a. WW 05/2022 -
LOIDA F. TASIS PH I 2.50 n.a. WW 05/2022 -
MR CESAR B. AMBALADA JR. PH I 1.00 n.a. WW 05/2022 -
MRS EVA DE LEON SUNGA PH I 0.50 n.a. WW 05/2022 -
No of
Name
employees
MRS LENY RAEUBER -
MR MICHAEL K. RAEUBER -
MR ELMER FRANCISCO U. SARMIENTO -
MR ANDREW K RAEUBER -
MR CHRISTIAN K. RAEUBER -
MR SEBASTIAN K. RAEUBER -
LOIDA F. TASIS -
MR CESAR B. AMBALADA JR. -
MRS EVA DE LEON SUNGA -
Legend
There are names Also a manager I = One or more named individuals or
that are the same, or families
similar to, a risk
relevant name
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 62

Shareholders history
Current shareholders
Ownership Info Op. Rev. No of
Name Country Type
Direct % Total % Source Date (m USD) employees
MRS LENY RAEUBER PH I 30.50 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR MICHAEL K. RAEUBER PH I 25.00 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR ELMER FRANCISCO U. SARMIENTO PH I 10.50 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR ANDREW K RAEUBER PH I 10.00 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR CHRISTIAN K. RAEUBER PH I 10.00 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR SEBASTIAN K. RAEUBER PH I 10.00 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
LOIDA F. TASIS PH I 2.50 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MR CESAR B. AMBALADA JR. PH I 1.00 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
MRS EVA DE LEON SUNGA PH I 0.50 n.a. WW 05/2022 - -
- n.a. BI 10/2018
- n.a. BI 10/2017
- n.a. BI 03/2016
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 63

Legend
There are names Also a manager I = One or more named individuals or
that are the same, or families
similar to, a risk
relevant name
Previous shareholders
Name Country Type
MRS SARAH C. MENDOZA PH I - n.a. BI 10/2017 -
- n.a. BI 03/2016
GEODIS INTERNATIONAL FR E 29.00 n.a. SC 03/2011 0
29.00 n.a. SC 02/2011
29.00 n.a. SC 11/2009
29.00 n.a. SC 06/2009
29.00 n.a. SC 05/2008
29.00 n.a. SC 06/2007
No of
Name
employees
MRS SARAH C. MENDOZA -
GEODIS INTERNATIONAL n.a.
Legend
I = One or more named individuals or families
E = Mutual and pension fund, nominee, trust, trustee
Filters
Shareholders: All
All information since 01/2002
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 64

Current subsidiaries

Name Country Type Status
ROYAL CARGO SINGAPORE PTE. LTD. SG C 94.39 94.39 - BZ 05/2022 0
IRIS LOGISTICS INC PH C MO n.a. - HS 07/2022 7
LIMA LOGISTICS CORPORATION PH C MO n.a. - WW 10/2018 4
ROYAL GLOBAL SERVICES, INC. PH C - MO n.a. - WW 10/2018 2

TMW WORLDWIDE EXPRESS INC PH C - MO n.a. - WW 10/2018 1
No of
Name
employees
ROYAL CARGO SINGAPORE PTE. LTD. n.a.
IRIS LOGISTICS INC n.a.
LIMA LOGISTICS CORPORATION n.a.
ROYAL GLOBAL SERVICES, INC. n.a.

TMW WORLDWIDE EXPRESS INC n.a.
Legend
There are names that are the same, or C = Corporate
similar to, a risk relevant name MO = Majority owned
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 65

Research
Company profiles
Filters:
Moody's Investors Service, Moody’s Analytics Capital Markets, MarketLine, Morningstar, GlobalData
Industry profiles
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 66

kompany
You currently have no kompany document
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 67

My variables

Appendix – Omitted chapters
The chapters listed below have been omitted because they have no data for this company, or the data cannot be represented
in the PDF
Legal events
Detailed format
Cash flow statement
Segment data - Business lines
Segment data - Geographic segments
Graph - company ratings over time
Albatross score by Zanders
RepRisk indicators by RepRisk
National scores
Stock profile
Annual stock data
Annual stock valuation
Pricing series
Beta and price volatility
Earnings estimates
Credit default swaps
Previous directors & managers
Branches
Royalties agreements
Company and market news
Mergers & acquisitions
Crossborder investments
Liquidity events & potential beneficiaries
Local registry documents
aRMadillo
Global reports
EOL SEC filings
Data Update 325,003 (09/08/2022) 11/08/2022 - Page 68


Royal Cargo Inc (Philipine) BVD 11 - 08 - 2022 13 - 43

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ROYAL

ROYAL CARGO BLDG., NO.4 STA. AGUEDA AVE., Legal form: Corporation

Phone: +63 2 3333000

Most recent accounts: 2020 Ownership News stories since last year

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 1

2011 2014 2016 2018 2020

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 2

ROYAL CARGO BLDG., NO.4 STA. AGUEDA AVE., Legal form: Corporation

Philippines Date of incorporation: 1997

Phone: +63 2 3333000

9 shareholders This company is notthe same

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 3

31/12/2020 31/12/2019 31/12/2018 31/12/2017 31/12/2016

P/L for period [=Net 1,722 -3,926 2,485 6,175 6,330

Total assets 121,359 116,420 102,002 98,033 57,507

Shareholders funds 47,070 42,069 39,849 37,978 31,236

Current ratio (x) 1.02 0.86 0.84 1.11 1.24

Profit margin (%) 7.80 -3.25 10.78 13.21 15.87

Mr Gregg P Laquiores 0 negative stories

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 4

Financial Reputational Environmental

Falcon CRIF VadRisk WVB Albatross Compass RepRisk Trucost

4 767 2 B- 323 1.35

2020 2020 2020 2020 28/02/22 2020

MORE Reactive Qualitative

2020 11/07/22 26/07/22

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 5

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 6

Filipino SIC 2010 code(s)

NACE Rev. 2 code(s) {derived from Filipino SIC 2010 codes}

NAICS 2017 code(s) {derived from Filipino SIC 2010 codes}

US SIC code(s) {derived from Filipino SIC 2010 codes}

Trade description in original language (Unknown)

Active in 5 country(ies) or region(s), 1 strategic alliance(s)

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 7

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 8

Active(updated in Orbis on 04/02/2022) PEPs and sanctions

Status unknown 21/01/2022

Status unknown 12/04/2017

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 9

Most recent accounts: 2020 Accounts published in: PHP

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 10

Series name 2025F 2024F 2023F 2022F

Population (m.) 114.2 112.9 111.6 110.2

GDP at constant $ rate (bil. USD) n.a. n.a. n.a. n.a.

GDP real growth rate (%) n.a. n.a. n.a. n.a.

Inflation rate (%) n.a. n.a. 2.0 4.0

Budget balance (% of GDP) n.a. n.a. n.a. n.a.

Public debt (% of GDP) n.a. n.a. n.a. n.a.

Unemployment (% of labour force) n.a. n.a. n.a. 8.0

Current account balance (% of GDP) n.a. n.a. n.a. n.a.

Trade balance (% of GDP) n.a. n.a. n.a. n.a.

International reserves (bil. USD) n.a. n.a. n.a. 109

Data Update 325,003 (09/08/2022) 11/08/2022 - Page 11

108.8 107.3 105.8 104.2 102.5

358 396 373 351 328

n.a. 6.0 6.0 7.0 7.0

3,270 3,665 3,501 3,338 3,168

2.0 2.0 5.0 3.0 1.0

n.a. n.a. n.a. n.a. n.a.

n.a. 37.0 37.0 38.0 37.0

9.0 n.a. n.a. n.a. n.a.

n.a. 0.0 -3.0 -1.0 0.0