MIRA
INFORM REPORT
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Report Date : |
18th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
IGE
PTE LIMITED |
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Registered Office : |
5 Shenton Way, #15-09, Uic Building, Singapore 068808, Singapore |
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Country : |
Singapore |
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Date of Incorporation : |
28.12.2001 |
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Legal Form : |
Exempt Pte Ltd |
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Line of Business : |
Trading of Rice
and Teak |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name
IGE PTE LTD
Line Of Business
TRADING OF RICE AND
TEAK
Parent Company
-
Financial Elements
Sales :
NA
Networth :
NA
Paid-Up Capital : S$500,000
Net result : NA
Net
Margin(%) : NA
Return on Equity(%) : NA
Leverage Ratio : NA
Rating
Credit Requested : NA
Credit Rating : Sing $ 300
001 to Sing $ 600 000
Credit Opinion : NA
COMPANY IDENTIFICATION
Subject
Company : IGE PTE LTD
Former
Name : -
Business Address :
5 SHENTON WAY
#15-09
UIC
BUILDING
Town : SINGAPORE
Postcode : 068808
County : -
Country : Singapore
Telephone : 6224 8219
Fax : 6224 8619
ROC Number : 200108234D
Reg.
Town : -
SUMMARY
All amounts in this
report are in : SGD
Legal Form :
Exempt Pte Ltd
Date Inc. :
28/12/2001
Previous Legal Form :
-
Summary year :
NA
Sales :
NA
Paid-Up Capital :
500,000
Employees :
8
Auditor :
CHEW WHYE LEE & CO
Net Worth :
NA
Net Result :
NA
REFERENCES
CCMS Number :
702005022044 Report
Date : 08/11/2006
Update Date :
11/09/2006
Credit Requested :
NA Credit
Opinion : NA
Litigation :
No
Company status :
TRADING Started : 28/12/2001
PRINCIPAL(S)
ZAW MIN MYAT S7460616D Director
DIRECTOR(S)
U WIN KYAING
209767 Director
Appointed on : 28/12/2001
Street : 22/A KABARAYE PAGODA
ROAD
BAHAN T/S
Town :
YANGON
Postcode : -
Country :
Myanmar
THAN WIN SWE
673371 Director
Appointed on : 09/06/2005
Street :
NO.22A KABARAYE PAGODA ROAD
BAHAN T/S
Town :
YANGON
Postcode : -
Country :
Myanmar
ZAW MIN MYAT
S7460616D Director
Appointed on : 19/08/2005
Street :
341 CLEMENTI AVENUE 5
#02-172
Town :
SINGAPORE
Postcode : 120341
Country :
Singapore
ZAW MIN MYAT
S7460616D Company Secretary
Appointed on : 19/08/2005
Street :
341 CLEMENTI AVENUE 5
#02-172
Town :
SINGAPORE
Postcode : 120341
Country :
Singapore
THAM KWAI HO
S1306509H Company Secretary
Appointed on : 19/08/2005
Street :
243 SIMEI STREET 5
#08-10
Town :
SINGAPORE
Postcode : 520243
Country :
Singapore
FORMER DIRECTOR(S)
NG SIEW HUNG S1166191B
PYI SOE OO S7874598C
ACTIVITY(IES)
IMPORTERS
And EXPORTERS Code:
11760
TRADING
COMPANIES Code:
22190
RICE Code: 18510
CHEMICALS
Code: 3970
MACHINERY Code: 13260
BASED ON
ACRA'S RECORD AS AT 06/09/2006
1) GENERAL
WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
2)
WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENCIES)
CHARGES
Date : 17/11/2005
Comments : CHARGE NO: C200507126
AMT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S) : UNITED
OVERSEAS BANK LIMITED
Date : 11/06/2004
Comments : CHARGE NO: C200402820
AMT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S) : UNITED OVERSEAS BANK LIMITED
Date : 08/12/2003
Comments : CHARGE NO: C200305884
AMT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S) : UNITED
OVERSEAS BANK LIMITED
Date : 20/03/2003
Comments : CHARGE NO: C200301294
AMT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S) : THE
DEVELOPMENT BANK OF SINGAPORE LIMITED
PREMISES/PROPERTY INFORMATIONS
Date :
11/09/2006
Tax rate :
10%
Site Address : 5 SHENTON WAY
#15-09 UIC BUILDING
Town :
SINGAPORE
Postcode :
068808
Country :
Singapore
Annual Value : SGD 26,000
TAX RATE OF 4% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS OWNER OCCUPIED.
TAX RATE OF 10% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS PARTIALLY OR FULLY RENTED OUT BY THE OWNER/OWNED BY COMPANY.
FOR PROPERTIES OTHER THAN RESIDENTIAL PROPERTIES REGARDLESS RENTED OUT OR NOT, THE TAX RATE IS 10% (I.E INDUSTRIAL AND COMMERCIAL PROPERTY).
ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT
THE PROPERTY CAN FETCH IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN
THE SAME MANNER REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED
OR VACANT.
BANKERS
UNITED OVERSEAS BANK LIMITED
DBS BANK LTD.
SHAREHOLDERS(S)
U WIN KYAING 250,000 Private Person
Street :
22/A KABARAYE PAGODA ROAD
BAHAN T/S
Town :
YANGON
Postcode :
-
Country :
Myanmar
KYAWT KAY KHAING 250,000 Private Person
Street :
22/A KABARAYE PAGODA ROAD
BAHAN T/S
Town :
YANGON
Postcode :
-
Country :
Myanmar
SUBSIDIARY(IES)
No Participation In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality : AVERAGE
Liquidity :
UNKNOWN
Payments :
REGULAR
Trend :
LEVEL
Financial Situation : UNKNOWN
LITIGATION(S)
No Litigation In Our Database
FINANCIAL COMMENTS
LIMITED EXEMPT PRIVATE COMPANY
WHERE THE SHARES OF A PRIVATE COMPANY ARE NOT
OWNED BY ANY CORPORATE BODY AND THERE ARE
NO MORE THAN 20 MEMBERS, THE PRIVATE COMPANY IS KNOWN AS AN EXEMPT PRIVATE
COMPANY.
AN EXEMPT PRIVATE
COMPANY ENJOYS A GREATER AMOUNT OF PRIVACY THAN A PRIVATE
COMPANY. IT IS NOT REQUIRED TO FILE ACCOUNTS WITH THE REGISTRAR IF IT CAN
PRODUCE A CERTIFICATE SIGNED BY ONE OF ITS DIRECTORS, SECRETARY AND AUDITOR
CONFIRMING THE FOLLOWING POINTS:
1. THE COMPANY IS AN EXEMPT PRIVATE
COMPANY.
2. THE AUDITED ACCOUNTS HAVE BEEN TABLED
BEFORE THE SHAREHOLDERS
AT THE ANNUAL GENERAL MEETING.
3. THE COMPANY IS ABLE TO MEET ITS
LIABILITIES.
THERE IS THEREFORE
NO DISCLOSURE TO THE PUBLIC OF THE ACCOUNTS OF THE COMPANY ALTHOUGH THE
ACCOUNTS STILL HAVE TO BE AUDITED EVERY
YEAR AND APPROVED AT AN ANNUAL GENERAL MEETING OF THE COMPANY.
A PRIVATE COMPANY
THAT IS WHOLLY OWNED BY THE GOVERNMENT MAY BECOME
AN EXEMPT PRIVATE COMPANY IF THE MINISTER FOR FINANCE, IN THE NATIONAL
INTEREST, DECLARES IT TO BE SUCH BY A GAZETTE NOTIFICATION.
EXEMPT FROM AUDIT
AN EXEMPT PRIVATE COMPANY IS EXEMPT FROM
AUDIT REQUIREMENTS IF THE STARTING DATE OF ITS FINANCIAL YEAR IS BETWEEN
15 MAY 2003 AND 31 MAY 2004 AND ITS TURNOVER FOR THAT FINANCIAL YEAR DOES NOT
EXCEED $2.5 MILLION. FOR FINANCIAL YEARS STARTING 1 JUNE 2004, THE AMOUNT OF THE TURNOVER
HAS BEEN RAISED TO $5 MILLION. THESE COMPANIES ARE STILL REQUIRED
TO MAINTAIN PROPER ACCOUNTING.
* THE LATEST FINANCIAL STATEMENTS FILED IN BY THE COMPANY AS AT YEAR ENDED 31/03/2004 ARE NOT AVAILABLE. AS SUCH, ADVERSE CHECKS ON THE LOCAL DIRECTORS WILL BE CONDUCTED.
BACKGROUND/OPERATION
THE SUBJECT IS
REGISTERED IN THE REPUBLIC OF SINGAPORE AS A LIMITED EXEMPT
PRIVATE COMPANY ON 28/12/2001 AND IS TRADING UNDER ITS PRESENT NAMESTYLE
AS "IGE PTE LTD".
AS AT 06/09/2006,
SUBJECT HAS AN ISSUED AND PAID-UP CAPITAL OF 500,000
SHARES OF A VALUE OF S$500,000.
PRINCIPAL
ACTIVITIES
SUBJECT IS
REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY
AUTHORITY (ACRA) TO
BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) GENERAL
WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
2) WHOLESALE ON A
FEE OR CONTRACT BASIS (EG COMMISSION AGENCIES)
FROM THE RESEARCH
CONDUCTED, THE FOLLOWING INFORMATION WAS GATHERED:
SUBJECT IS LISTED
IN THE SINGAPORE LOCAL DIRECTORY UNDER THE CLASSIFICATION
OF: IMPORTERS & EXPORTERS.
SUBJECT IS A
GENEARAL TRADING COMPANY WHICH MAINLY EXPORTS MYANMAR RICE.
PRODUCTS OR
SERVICES:
* MACHINERIES &
SPARE PARTS FOR ELECTRICAL GENERATING PROJECTS
* RICE (IMPORT FROM
MYANMAR)
* LOGS/ TEAK
* STEELS
* FERTILIZER
* CHEMICALS
PURCHASES:
* IMPORTS (%):
80-90
* TERMS OF IMPORT:
LETTER OF CREDITS
* IMPORT COUNTRIES:
DUBAI (UAE), SOUTHEAST ASIA REGION (SINGAPORE,
VIETNAM, INDIA,
THAILAND, MYANMAR, ETC)
MARKETS:
* LOCAL (%): 20
* TERMS SALES:
LETTER OF CREDITS
* EXPORT(%): 80
* TERMS OF EXPORT:
LETTER OF CREDITS
* EXPORT COUNTRIES:
SOUTHEAST ASIAN COUNTRIES; LOGS - INDIA;
RICE - INDONESIA,
AFRICA, ETC
NO. OF EMPLOYEES:
* COMPANY - 2006: 8
(2005: 6) (AS VERIFIED THROUGH TELE-INTERVIEW)
REGISTERED &
BUSINESS ADDRESSES:
5 SHENTON WAY
#15-09 UIC BUILDING
SINGAPORE 068808
DATE OF CHANGE OF
ADDRESS: 03/03/2005
-- OFFICE
-- OWNED PREMISE
WEBSITE:
* NIL
EMAIL:
*
kay_kk@igesg.com.sg
MANAGEMENT
THE DIRECTORS IN
OFFICE AT THE TIME OF THIS REPORT ARE:
(1) U WIN KYAING, A
MYANMESE
- BASED IN MYANMAR
(2) THAN WIN SWE, A
MYANMESE
- BASED IN MYANMAR
(3) ZAW MIN MYAT, A
SINGAPORE PERMANENT RESIDENT
- HOLDS NO OTHER
DIRECTORSHIP AS RECORDED IN OUR DATABASE
ADVERSE ON DIRECTORS
DIRECTOR'S
NAME :
ZAW MIN MYAT
ADVERSE REPORT
AGAINST DIRECTOR : NIL
PROPERTY OWNERSHIP :
NIL
ANNUAL VALUE :
NA
CO-OWNER :
NA
ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT THE PROPERTY CAN FETCH IF IT WERE RENTED
OUT. THE ANNUAL VALUE IS DETERMINED IN THE SAME MANNER REGARDLESS OF
WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED OR VACANT.
SINGAPORE'S COUNTRY RATING 2006
RATING: A1
INVESTMENT GRADE
IN SINGAPORE, THE
POLITICAL SITUATION APPEARS TO BE VERY STABLE.
ECONOMIC GROWTH IS
BECOMING MORE MODERATE AS INVESTMENT HAS BEEN FLAT DUE TO INCREASING OIL PRICES
AND LESS BUOYANT DEMAND FOR ELECTRONIC PRODUCTS.
ECONOMIC
PERFORMANCE HAS REMAINED STRONG, UNDERPINNED BY PHARMACEUTICALS AND SERVICES.
EXPORTS HAS BENEFITED FROM THE STEADINESS OF DEMAND FROM ITS MAIN TRADING
PARTNERS, MALAYSIA, THE UNITED STATES, CHINA AND HONG KONG. OTHER THAN ITS
BALANCED PUBLIC SECTOR ACCOUNTS, LIMITED FOREIGN DEBT AND COMFORTABLE FOREIGN
CURRENCY RESERVES HAVE CONTRIBUTED TO SINGAPORE'S STRONG FINANCIAL CONDITION.
AS THE ELECTRONICS
SECTOR FACES COMPETITION FROM THE ASIAN ECONOMIES, SINGAPORE HAS BEEN PURSUING
DIVERSIFICATION STRATEGY THAT HAS BEEN CONSOLIDATING ITS POSITION.
PHARMACEUTICALS ALREADY REPRESENT 10% OF EXPORTS IN COMPARATIVE TO ITS
INSIGNIFICANT CONTRIBUTION IN YEAR 1995. ELECTRONICS SECTOR SECTOR'S SHARE HAS
DECLINED FROM 80% TO 60% DURING THE SAME PERIOD. THERE IS HIGH RELIANCE ON
DEVELOPMENT OF PETROCHEMICAL PRODUCTS, HIGH VALUE-ADDED SERVICES AND
BIOTECHNOLOGIES.
ASSETS
- ONE OF THE MOST OPEN ECONOMIES IN THE
WORLD WITH EXPORTS PLAYING A MAJOR
ROLE IN ITS PERFORMANCE.
- ONE OF ASIA'S MOST ADVANCED COUNTRIES IN
QUALITY COMPETITIVENESS TERMS.
- WORKFORCE'S EDUCATION AND SKILL LEVEL IS
VERY HIGH.
- A MAJOR EXPORT OF CAPITAL IN ASIA,
PARTICULARLY THE STATE-OWNED HOLDING
COMPANY, TEMASEK.
- THE BUSINESS ENVIRONMENT HAS BEEN VERY
FAVOURABLE.
- GREAT POLITICAL STABILITY.
WEAKNESSES
- ECONOMY REMAINED OVERSPECIALISED IN THE
ELECTRONICS SECTOR.
- MUST ACCELERATE DIVERSIFICATION IN
SERVICES TO MAINTAIN ITS LEAD OVER
OTHER ASIAN ECONOMIES
- REFORMS ARE STILL NEEDED TO FOSTER
INNOVATION AND EDUCATION-SYSTEM
MODERNIZATION.
- AGING POPULATION COULD ULTIMATELY AFFECT
ECONOMIC PERFORMANCE.
SOURCES: COFACE
COPYRIGHT. ALL RIGHTS RESERVED.
@RATING COUNTRY RATING DEFINITION
INVESTMENT GRADE
A1 - THE STEADY
POLITICAL AND ECONOMIC ENVIRONMENT HAS POSITIVE EFFECTS ON
AN ALREADY GOOD PAYMENT RECORD OF
COMPANIES. VERY WEAK DEFAULT
PROBABILITY.
A2 - DEFAULT
PROBABILITY IS STILL WEAK EVEN IN THE CASE WHEN ONE COUNTRY'S
POLITICAL AND ECONOMIC ENVIRONMENT OR THE
PAYMENT RECORD OF COMPANIES
IS
NOT AS GOOD AS IN A1-RATED COUNTRIES.
A3 - ADVERSE
POLITICAL OR ECONOMIC CIRCUMSTANCES MAY LEAD TO A WORSENING
PAYMENT RECORD THAT IS ALREADY LOWER THAN
THE PREVIOUS CATEGORIES,
ALTHOUGH THE PROBABILITY OF A PAYMENT
DEFAULT IS STILL LOW.
A4 - AN ALREADY
PATCHY PAYMENT RECORD COULD BE FURTHER WORSENED BY A
DETERIORATING POLITICAL AND ECONOMIC
ENVIRONMENT. NEVERTHELESS, THE
PROBABILITY OF A DEFAULT IS STILL
ACCEPTABLE.
SPECULATIVE GRADE
B - AN UNSTEADY
POLITICAL AND ECONOMIC ENVIRONMENT IS LIKELY TO AFFECT
FURTHER AN ALREADY POOR PAYMENT RECORD.
C - AN VERY
UNSTEADY POLITICAL AND ECONOMIC ENVIRONMENT COULD DETERIORATE AN
ALREADY BAD PAYMENT RECORD.
D - THE HIGH RISK
PROFILE OF A COUNTRY'S ECONOMIC AND POLITICAL ENVIRONMENT
WILL FURTHER WORSEN A GENERALLY VERY BAD PAYMENT RECORD.
WHOLESALE TRADE SECTOR
PAST PERFORMANCE
WITH THE GROWTH IN
NON-OIL RE-EXPORTS AND THE RISE IN RETAIL SALES, THE
WHOLESALE AND
RETAIL TRADE SECTOR GREW BY A ROBUST 15% IN 1Q2006, UP FROM THE
12% GAIN IN 4Q2005.
DOMESTIC WHOLESALE TRADE INDEX
FOLLOWING SEVEN
QUARTERS OF DOUBLE-DIGIT GROWTH, THE OVERALL DOMESTIC WHOLESALE
TRADE INDEX
MODERATED TO 7.5% IN 1Q2006. EXCLUDING PETROLEUM, THE INDEX ROSE BY
14.2% OVER THE SAME
PERIOD LAST YEAR.
ON THE OTHER HAND,
DOMESTIC WHOLESALE OF PETROLEUM & PETROLEUM PRODUCTS FELL BY
2.1% IN 1Q2006, THE
FIRST DECLINE SINCE 1Q2004. DOMESTIC SALES OF FOOD,
BEVERAGES &
TOBACCO, PAINTS & CONSTRUCTION MATERIALS, TIMBER ALSO FELL COMPARED
TO 1Q2005.
AT CONSTANT PRICES,
THE OVERALL INDEX DECLINED BY 4.4% IN 1Q2006 OVER 1Q2005,
MAINLY DUE TO LOWER
ACTIVITY IN CHEMICAL AND PETROLEUM SECTORS. EXCLUDING
PETROLEUM, IT WAS
7.9% HIGHER THAN A YEAR AGO.
ON A
QUARTER-ON-QUARTER BASIS, THE OVERALL INDEX POSTED A DECLINE OF 16.5%
COMPARED TO 4Q2005.
EXCLUDING PETROLEUM, THE INDEX WERE LOWER BY 8.9%.
MOST OF THE MAJOR
SECTORS REGISTERED SLOWER BUSINESS IN 1Q2006 WITH THE
EXCEPTION OF
TELECOMMUNICATIONS & COMPUTERS AND GENERAL WHOLESALE TRADE.
FOREIGN WHOLESALE TRADE INDEX
AS COMPARED TO
1Q2005, THE OVERALL FOREIGN WHOLESALE TRADE IN 1Q2006 ROSE BY
15.4%. EXCLUDING
PETROLUEM, THE INDEX EXPANDED BY 11.5%.
ON A YEAR-ON-YEAR
BASIS, ELECTRONIC COMPONENTS GREW BY 22.8%, PETROLEUM & PETROLEUM PRODUCTS
ROSE BY 20.3%, AND GENERAL WHOLESALE TRADE GREW BY 18.7% IN 1Q2006.
IN CONTRAST,
HOUSEHOLD EQUIPMENT & FURNITURE, FOOD, BEVERAGES & TOBACCO, PAINTS
& CONSTRUCTION MATERIALS, WHOLESALERS OF TIMEBR REPORTED SLOWER FOREIGN
BUSINESS OVER THE SAME PERIOD LAST YEAR.
AT CONSTANT PRICES,
THE OVERALL INDEX ROSE MARGINALLY BY 0.9% IN 1Q2006 OVER A
YEAR AGO. EXCLUDING
PETROLEUM, IT WAS UP BY 7.6%.
ON A
QUARTER-ON-QUARTER BASIS, THE OVERALL INDEX POSTED A DECLINE OF 9.4% FOLLOWING
GROWTH FOR THREE CONSECUTIVE QUARTERS. EXCLUDING PETROLEUM, THE INDEX WERE
LOWER BY 8.6%.
THE HOUSEHOLD
EQUIPMENT & FURNITURE, FOOD, BEVERAGES & TOBACCO SECTOR ALL
REPORTED DECLINE IN
TURNOVER OF MORE THAN 17% IN THE FIRST QUARTER OF 2006 OVER
4Q2005.
AHEAD
WHOLESALERS
PREDICTS POSITIVE BUSINESS CONDITIONS FOR THE PERIOD ENDING DECEMBER 2006.
THOSE DEALING IN FURNITURE & FURNISHINGS, COSMETICS & TOILETRIES,
JEWELLERY &
WATCHES, HOUSEHOLD ELECTRICAL APPLIANCES & EQUIPMENT, ELECTRONIC
COMPONENTS,
SCIENITIFIC & PRECISION EQUIPMENT, ARE AMONG THOSE WHO ARE OPTIMISTIC ABOUT
THE BUSINESS OUTLOOK AHEAD.
EXTRACTED FROM
MINISTRY OF TRADE
AND INDUSTRY, SINGAPORE
SINGAPORE
DEPARTMENT OF STATISTICS TODAY
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we have
no basis upon which to recommend credit dealings |
No Rating |
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