MIRA
INFORM REPORT
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Report Date : |
21st November, 2006 |
IDENTIFICATION DETAILS
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Name : |
SUDIMA INTERNATIONAL PTE LTD |
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Registered Office : |
151 Chin Swee Road, #09-08 Manhattan House 169876, Singapore |
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Date of Incorporation : |
27/01/1994 |
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Legal Form : |
Pte Ltd |
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Line of Business : |
Trading and Acting as Commission Agents |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
Regular |
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Litigation : |
Clear |
Subject Company
SUDIMA
INTERNATIONAL PTE LTD
Line Of Business
TRADING
AND ACTING AS COMMISSION AGENTS
Parent Company
FORTUNE
HOLDINGS LTD
(PERCENTAGE
OF SHAREHOLDING: 98.75%)
Financial Elements
FY
2004
COMPANY
Sales :
S$44,866,118
Networth :
S$2,403,528
Paid-Up
Capital : S$2,000,000
Net
result : S$56,841
Net
Margin(%) : 0.13
Return
on Equity(%) : 2.36
Leverage
Ratio : 3.64
BUSINESS INFORMATION REPORT
COMPANY IDENTIFICATION
Subject
Company : SUDIMA INTERNATIONAL PTE LTD
Former
Name : -
Business
Address: 151 CHIN SWEE ROAD
#09-08 MANHATTAN HOUSE
Town: SINGAPORE
Postcode: 169876
County: -
Country: Singapore
Telephone: 6732
7180
Fax: 6732 7125
ROC
Number: 199400641G
Reg.
Town: -
SUMMARY
Legal
Form: Pte Ltd
Date
Inc.: 27/01/1994
Previous
Legal Form: -
Summary
year : 30/09/2004
All
amounts in this report are in : SGD
Sales: 44,866,118
Networth
: 2,403,528
Capital: 5,000,000
Paid-Up
Capital: 2,000,000
Employees: 13
Net
result : 56,841
Share
value: 1
AUDITOR:
SASHI
KALA DEVI ASSOCIATES
REFERENCES
Litigation: No
Company
status : TRADING
Started
: 27/01/1994
PRINCIPAL(S)
SANGITA
JHUNJHUWALA S2597941I Director
DIRECTOR(S)
ANIL
KUMAR JHUNJHNUWALA S2597940J Director
Appointed
on : 01/01/2005
Street
: 19 GRANGE ROAD
#26-19 GRANGE HEIGHTS
Town: SINGAPORE
Postcode: 239697
Country: Singapore
MANOJ
KUMAR JHUNJHNUWALA B0084964 Director
Appointed
on : 22/12/2000
Street
: 23 ROBINSON ROAD
6TH FLOOR
Town:
Postcode:
Country: Hong
Kong
LAXMI
NIWAS JHUNJHNUWALA S2693981Z Director
Appointed
on : 27/01/1994
Street
: 19 GRANGE ROAD
#26-19 GRANGE HEIGHTS
Town: SINGAPORE
Postcode: 239697
Country: Singapore
SANGITA
JHUNJHUWALA S2597941I Director
Appointed
on : 01/07/1998
Street
: 19 GRANGE ROAD
#26-19 GRANGE HEIGHTS
Town: SINGAPORE
Postcode: 239697
Country: Singapore
JAMES
METHODIUS S/O CYRIL METHODIS S0680660J Company Secretary
Appointed
on : 10/01/2005
Street
: 132 GRANGE ROAD
Town: SINGAPORE
Postcode: 249606
Country: Singapore
FORMER DIRECTOR(S)
WONG
LAI LENG S1176982I
DINESH
KUMAR JHUNJHNUWALA
B099870
SUDESH
KUMAR JHUNJHNUWALA
Q224043
ACTIVITY(IES)
IMPORTERS
And EXPORTERS Code:11760
TIMBER
- WHSLE Code:21690
BASED
ON ACRA'S RECORD AS AT 11/04/2006
1)
GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)
CHARGES
Date: 18/03/2004
Comments
: CHARGE
NO: C200401283
AMOUNT
SECURED: 0.00 AND ALL
MONIES OWING
CHARGEE(S):
OVERSEA-CHINESE
BANKING CORPORATION
LIMITED
Date: 28/03/2001
Comments
: CHARGE
NO: 200101436 (DISCHARGE)
AMOUNT
SECURED: 0.00 AND ALL
MONIES OWING
CHARGEE(S):
STANDARD
CHARTERED BANK
PREMISES/PROPERTY INFORMATIONS
Date: 17/04/2006
Tax
rate: 10
Site
Address : 151 CHIN SWEE ROAD
#09-08 MANHATTAN HOUSE
Town: SINGAPORE
Postcode: 169876
Country: Singapore
Annual
Value: 9,100
*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
STANDARD
CHARTERED BANK
OVERSEA-CHINESE
BANKING CORPORATION LIMITED
SHAREHOLDERS(S)
ANIL
KUMAR JHUNJHNUWALA 5,000 Private Person
Street
: 19 GRANGE ROAD
#26-19 GRANGE HEIGHTS
Town: SINGAPORE
Postcode: 239697
Country: Singapore
DINESH
KUMAR JHUNJHNUWALA 5,000 Private Person
Street
: 23 ROBINSON ROAD
6TH FLOOR
Town:
Postcode:
Country: Hong
Kong
MANOJ
KUMAR JHUNJHNUWALA 5,000 Private Person
Street
: 23 ROBINSON ROAD
6TH FLOOR
Town:
Postcode:
Country: Hong
Kong
SUDESH
KUMAR JHUNJHNUWALA 5,000 Private Person
Street
: 23 ROBINSON ROAD
6TH FLOOR
Town:
Postcode:
Country: Hong
Kong
LAXMI
NIWAS JHUNJHNUWALA 5,000 Private Person
Street
: 19 GRANGE ROAD
#26-19 GRANGE HEIGHTS
Town: SINGAPORE
Postcode: 239697
Country: Singapore
FORTUNE
HOLDINGS LTD 1,975,000 Company
Street
: P O BOX 268 GEORGE TOWN
GRANDS CAYMAN
Town:
Postcode:
Country: Cayman
Islands
HOLDING COMPANY
FORTUNE
HOLDINGS LTD UF11272N % :
98.75
SUBSIDIARY(IES)
No
Participation In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade
Morality: AVERAGE
Liquidity
: SUFFICIANT
Payments
: REGULAR
Trend
: UPWARD
Financial
Situation: AVERAGE
LITIGATION(S)
No
Litigation In Our Database
FINANCIAL ELEMENTS
All amounts in this report are in : SGD
Audit Qualification: UNQUALIFIED (CLEAN) UNQUALIFIED (CLEAN)
UNQUALIFIED (CLEAN)
Date Account Lodged:
30/05/2005
Balance Sheet Date:
30/09/2004
30/09/2003 30/09/2002
Number of weeks: 52 52 52
Consolidation Code: COMPANY COMPANY
COMPANY
--- ASSETS
Tangible Fixed Assets:
836,486 829,670 844,979
Total Fixed Assets:
836,486 829,670 844,979
Advanced payments on stocks: 661,800
Inventories:
914,293 445,451 82,353
Receivables:
8,511,663
6,582,244 5,999,373
Cash,Banks, Securitis:
773,542 553,046 421,836
Other current assets:
120,683 85,770 94,469
Total Current Assets:
10,320,181
7,666,511 7,259,831
TOTAL ASSETS: 11,156,667 8,496,181
8,104,810
--- LIABILITIES
Equity capital:
2,000,000
2,000,000 2,000,000
Profit & lost
Account: 403,528 346,687 290,318
Total Equity: 2,403,528 2,346,687 2,290,318
Long Term Loans:
L/T deffered taxes: 800 800
14,000
Other long term Liab.:
15,393 28,779 42,162
Total L/T Liabilities:
16,193 29,579 56,162
Trade Creditors:
5,043,494
3,489,185 822,459
Prepay. & Def. charges: 12,500
12,500
Short term liabilities:
13,386 13,386 13,386
Advanced payments:
Due to Bank:
2,514,919
2,520,500 4,815,921
Provisions:
12,164 28,560 51,000
Other Short term Liab.:
1,140,483
55,784 55,564
Total short term Liab.:
8,736,946
6,119,915 5,758,330
TOTAL LIABILITIES:
8,753,139
6,149,494 5,814,492
--- PROFIT & LOSS ACCOUNT
Net Sales 44,866,118 29,652,798 32,676,516
Gross Profit: 1,456,149
Result of ordinary operations
467,620
373,964 393,685
NET RESULT BEFORE TAX:
70,784 39,598 91,629
Tax :
13,943 -16,771 23,735
Net income/loss year:
56,841 56,369 67,894
Interest Paid:
129,478 274,101 601,456
Depreciation:
40,024 43,839 46,093
Directors Emoluments:
72,000 66,000 66,000
Wages and Salaries:
1,006,562 947,394 648,686
Financial Income:
4,303 4,771 322,069
RATIOS
30/09/2004 30/09/2003
30/09/2002
Turnover per employee:
3451239.85
2280984.46 2513578.15
Fin. Charges / Turnover(%):0.00 0.01 0.02
Stock / Turnover(%):
0.02 0.02 0.00
Net Margin(%):
0.13 0.19 0.21
Return on Equity(%):
2.36 2.40 2.96
Return on Assets(%):
0.51 0.66 0.84
Net Working capital:
1583235.00
1546596.00 1501501.00
Cash Ratio:
0.09 0.09 0.07
Quick Ratio:
1.06 1.17 1.12
Current ratio:
1.18 1.25 1.26
Receivables Turnover:
68.30
79.91 66.10
Leverage Ratio:
3.64 2.62 2.54
Net Margin : (100*Net income loss
year)/Net sales
Return on
Equity : (100*Net income loss
year)/Total equity
Return on
Assets : (100*Net income loss
year)/Total fixed assets
Net Working
capital : Total current assets -
Total short term liabilities
Cash Ratio : Cash Bank securities/Total
short term liabilities
Quick Ratio
: (Cash Bank
securities+Receivables)/Total Short term liabilities
Current
ratio : Total current
assets/Total short term liabilities
Inventory
Turnover : (360*Inventories)/Net
sales
Receivables
Turnover : (Receivable*360)/Net sales
Leverage
Ratio : Total
liabilities/(Total equity-Intangible assets)
FINANCIAL COMMENTS
THE FINANCIAL CONDITION OF THE COMPANY WAS SEEN TO BE FAIR
IN VIEW OF THE FOLLOWING:
NET WORTH:
THE BALANCE SHEET WAS CONSIDERED PASSABLE WITH NET WORTH
IMPROVED BY 2.42% FROM S$2,346,687 IN FY 2003 TO S$2,403,528 IN FY 2004. THIS
WAS DUE TO HIGHER ACCUMULATED PROFIT OF S$403,528 (2003: S$346,687); A RISE OF
16.39% FROM THE PRIOR FINANCIAL YEAR.
LEVERAGE:
IN THE SHORT-TERM, SUBJECT WAS LARGELY FINANCED BY TRADE
CREDITORS WHICH MADE UP 57.73% (2003: 57.01%) OF THE TOTAL CURRENT LIABILITIES
AND AMOUNTED TO S$5,043,494 (2003: S$3,489,185). THE BREAKDOWN IS AS FOLLOWS:
-TRADE CREDITORS - 2004: S$1,311,403 (2003: S$1,778,261)
-RELATED PARTIES - 2004: S$2,960,454 (2003: S$1,710,924)
-ADVANCES RECEIVED - 2004: S$771,637 (2003: -)
AMOUNT DUE TO BANKS OF S$2,514,919 (2003: S$2,520,500)
CONSISTED OF:
-BILLS PAYABLE SECURED
- 2004: S$2,480,930 (2003: S$530,299)
-BILLS PAYABLE UNSECURED
- 2004: - (2003: S$1,875,595)
-BANK OVERDRAFTS SECURED - 2004: S$33,989 (2003: S$114,606)
IN ALL, LEVERAGE RATIO ROSE FROM 2.62 TIMES TO 3.64 TIMES AS
A RESULT OF A GREATR RISE IN TOTAL LIABILITIES THAN TOTAL EQUITY.
LIQUIDITY:
IN GENERAL, SUBJECT'S LIQUIDITY SITUATION WAS PASSABLE AS
SEEN FROM THE NET WORKING CAPITAL AND LIQUIDITY RATIOS. CURRENT RATIO FELL TO
1.18 TIMES, DOWN FROM 1.25 TIMES AND QUICK RATIO FELL TO 1.06 TIMES FROM 1.17
TIMES IN FY 2003.
SIMILARLY, NET WORKING CAPITAL IMPROVED BY 2.37% FROM S$
1,546,596 IN FY 2003 TO S$1,583,235.
PROFITABILITY:
REVENUE POSTED AN INCREASE OF 51.30% FROM S$29,652,798 IN FY
2003 TO S $44,866,118 AND NET PROFIT POSTED A MARGINAL RISE OF 0.84% TO S$56,841
(2003: S$ 56,369). HENCE, NET MARGIN FELL TO 0.13% (2003: 0.19%).
DEBT SERVICING:
DEBT SERVICING PROBLEMS MIGHT NOT BE EXPECTED IF REVENUE AND
EARNINGS CAN BE MAINTAINED AND PAYMENT BY TRADE DEBTORS ARE FORTHCOMING.
NOTES TO THE FINANCIAL STATEMENTS:
BILLS PAYABLE SECURED - ARE SECURED BY THE PLEDGE OF THE
COMPANY'S LEASEHOLD OFFICE PREMISES AND A FIXED DEPOSITS
BILLS PAYABLE UNSECURED - ARE SECURED BY PERSONAL GUARANTEE
FROM CERTAIN OF THE DIRECTORS OF THE COMPABY
BANK OVERDRAFTS SECURED - ARE SECURED BY PLEDGING OF THE
COMPANY'S LEASEHOLD OFFICE PREMISES AND A FIXED DEPOSIT
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN THE REPUBLIC OF SINGAPORE ON
27/01/1994 AS A LIMITED PRIVATE COMPANY AND IS TRADING UNDER
ITS
PRESENT NAMESTYLE AS "SUDIMA INTERNATIONAL PTE
LTD".
AS AT 17/04/2006, THE COMPANY HAS ISSUED AND PAID-UP CAPITAL
OF
2,000,000 SHARES OF A VALUE OF S$2,000,000.
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)
DURING THE FINANCIAL YEAR UNDER REVIEW, THE PRINCIPAL
ACTIVITIES OF THE COMPANY CONSIST OF TRADING AND ACTING AS COMMISSION AGENTS.
FROM THE RESEARCH DONE, THE FOLLOWING INFORMATION WAS
GATHERED:
BACKGROUND:
TRADING HOUSE HAVING OFFICES ALL OVER S.E.ASIA, AFRICA,
S.AMERICA AND TRADING IN TEXTILES, PHARMACEUTICALS, TIMBER, AGRO-COMMODITIES,
STEAM COAL, METALS ETC.
SEVERAL ATTEMPTS HAVE BEEN MADE TO CONTACT THE SUBJECT FOR A
TELE- INTERVIEW.HOWEVER, NO ONE ANSWERS THE CALL.
NO OTHER TRADE INFORMATION IS AVAILABLE ON 17/04/2006.
THE COMPANY IS A SUBSIDIARY OF FORTUNE HOLDINGS LTD, A
COMPANY
INCORPORATED IN CAYMAN ISLANDS.
NUMBER OF EMPLOYEES (30 SEPTEMBER):
*COMPANY - 2004: 13 (2003: 13)
*GROUP - 2004: - (2003:
-)
REGISTERED AND BUSINESS ADDRESS:
151 CHIN SWEE ROAD
#09-08 MANHATTAN HOUSE
SINGAPORE 169876
-DATE OF CHANGE OF ADDRESS: -
YOUR PROVIDED CONTACT NUMBER:
TEL NO: 6732 7185
-CAN'T CONFIRM THE NUMBER
WEBSITE:
-
EMAIL:
-
MANAGEMENT
THE DIRECTORS AT THE TIME OF THE REPORT ARE:
1) MANOJ KUMAR JHUNJHNUWALA, AN INDIAN
-BASED IN HONG KONG
2) ANIL KUMAR JHUNJHNUWALA, A SINGAPORE PERMANENT RESIDENT
-HOLDS NO OTHER DIRECTORSHIP IN OUR DATABASE.
3) SANGITA JHUNJHUWALA, A SINGAPORE PERMANENT RESIDENT
-OTHER DIRECTORSHIP(S) IN OUR DATABASE:
EURO-INTERNATIONAL PTE LTD
4) LAXMI NIWAS JHUNJHNUWALA, A SINGAPORE PERMANENT RESIDENT
-OTHER DIRECTORSHIP(S) IN OUR DATABASE:
EURO-INTERNATIONAL PTE LTD
RANG MAHAL PTE LTD
Singapore’s Country Rating
2005
Investment Grade
The steady political and economic
environment has positive effects on an already good payment record of
companies. Very weak default probability.
AFTER THE ROBUST ECONOMIC RECOVERY IN 2004, GROWTH SHOULD
BECOME MORE MODERATE AMID A LIKELY SLOWDOWN OF WORLD DEMAND FOR ELECTRONIC
PRODUCTS, WITH THAT SECTOR REPRESENTING NEARLY TWO-THIRDS OF SINGAPORE'S
EXPORTS. THAT SLOWDOWN SHOULD NONETHELESS NOT JEOPARDISE THE SATISFACTORY
PAYMENT RECORD OF MOST COMPANIES.
MOREOVER, PUBLIC SECTOR ACCOUNTS SHOULD AGAIN SHOW A SLIGHT SURPLUS, WITH THE
PERSISTENCE OF SUBSTANTIAL EXTERNAL ACCOUNT SURPLUSES, LIMITED FOREIGN DEBT,
AND COMFORTABLE FOREIGN EXCHANGE RESERVES. FURTHERMORE, THE BANKING SYSTEM HAS
REMAINED ONE OF ASIA'S SOUNDEST, DESPITE STIFF DOMESTIC COMPETITION AND AN
APPRECIABLE PROPORTION OF NON-PERFORMING LOANS.
HOWEVER, SINGAPORE'S RE-EXPORT ACTIVITY HAS BEEN SAGGING AND THE CURRENT
DEVELOPMENT MODEL HAS REACHED ITS LIMITS. TO OFFSET THAT TREND, THE CITY-STATE
HAS BEEN WORKING TO IMPROVE ITS POSITIONING. TO ENHANCE SINGAPORE'S
ATTRACTIVENESS COMPARED TO OTHER REGIONAL COUNTRIES, GOVERNMENT AUTHORITIES
HAVE BEEN REDUCING TAXES ON COMPANIES AND INCREASING THE NUMBER OF INCENTIVES
AVAILABLE TO THEM. THEY HAVE ALSO BEEN PROGRESSIVELY PRIVATISING STATE-OWNED
ENTERPRISES. FINALLY, WHILE DIVERSIFYING ITS INDUSTRY TOWARD PETROCHEMICAL AND
PHARMACEUTICAL PRODUCTS, THE CITY-STATE HAS BEEN FOCUSING ON HIGH VALUE-ADDED
SERVICES, BIOTECHNOLOGY DEVELOPMENT, AND ADVANCED RESEARCH.
ASSETS
A STRATEGIC REGIONAL HUB, SINGAPORE HAS ATTRACTED INVESTORS
THANKS TO THE QUALITY OF ITS INFRASTRUCTURE AND FINANCIAL SYSTEM.
THE WORKFORCE IS VERY WELL TRAINED AND HIGHLY SKILLED.
ECONOMIC FUNDAMENTALS HAVE BEEN PARTICULARLY GOOD.
THE BUSINESS ENVIRONMENT HAS BEEN VERY FAVOURABLE.
POLITICAL CONTINUITY HAS BEEN REMARKABLE.
WEAKNESSES
THE ECONOMY'S SPECIALISATION IN ELECTRONIC HAS TENDED TO
INCREASE ITS EXPOSURE TO SHIFTS IN WORLD ECONOMIC CONDITIONS.
THE DIVERSIFICATION UNDER WAY, NOTABLY IN SERVICES, SHOULD
BE ACCELERATED TO BOLSTER THE ECONOMY'S COMPETITIVENESS IN A REGIONAL
ENVIRONMENT UNDERGOING PROFOUND CHANGE.
REFORMS ARE STILL NEEDED TO FOSTER ENTREPRENEURIAL SPIRIT AND INNOVATION AS WELL AS MODERNISATION OF THE EDUCATION SYSTEM.
WHOLESALE AND RETAIL TRADE SECTOR
PAST PERFORMANCE
WITH THE BOOST FROM THE STRONG GROWTH PERFORMANCE OF NON-OIL RE-EXPORTS
AND RETAIL SALES, THE WHOLESALE AND RETAIL TRADE SECTOR GREW BY A HEALTHY 8.0%
IN 3Q2005,
EASING SLIGHTLY FROM THE 8.7% GROWTH REGISTERED IN 2Q2005.
WHOLESALE TRADE
DOMESTIC WHOLESALE TRADE INDEX
THE OVERALL DOMESTIC WHOLESALE TRADE INDEX ROSE BY 20.5% OVER THE SAME
PERIOD A YEAR AGO. EXCLUDING PETROLEUM, THE INDEX ROSE BY 8.9%.
THE RISE WAS ATTRIBUTED TO SHIP CHANDLERS & BUNKERING AND WHOLESALE
TRADE OF PETROLEUM & PETROLEUM PRODUCTS WITH 40% INCREASE. THE HIGHER SALES
WERE MAINLY DUE TO OIL PRICE INCREASES.
DOMESTIC SALES OF CHEMICALS & CHEMICAL PRODUCTS ROSE BY 18.1%,
CONTRIBUTED MAINLY BY THE WHOLESALING OF PETROCHEMICAL PRODUCTS. SALES OF
TELECOMMUNICATIONS & COMPUTERS, INDUSTRIAL & CONSTRUCTION MACHINERY,
TIMBER, PAINTS AND CONSTRUCTION MATERIALS ALSO POSTED RISES IN 3Q2005.
CONVERSELY, DOMESTIC SALES OF HOUSEHOLD EQUIPMENT & FURNITURE FELL
BY 11.6% IN 3Q2005, COMPARED TO A YEAR AGO.
AT CONSTANT PRICES, THE OVERALL INDEX ROSE SLIGHTLY BY 1.9% IN 3Q2005
OVER 3Q2004. EXCLUDING PETROLEUM, IT WAS 3.6% HIGHER THAN A YEAR AGO.
ON A QUARTER-ON-QUARTER BASIS, THE OVERALL INDEX POSTED A RISE OF 10.7%
IN 3Q2005.
EXCLUDING PETROLEUM, THE INDEX ROSE MODERATELY BY 4.1%.
THERE WERE VARIOUS SECTORS WHICH CONTRIBUTED TO THE OVERALL IMPROVEMENT,
INCLUDING SHIP CHANDLERS & BUNKERING, WHOLESALING OF PETROLEUM &
PETROLEUM PRODUCTS, TELECOMMUNICATIONS & COMPUTERS AND CHEMICALS &
CHEMICAL PRODUCTS.
IN CONTRAST, FOOD, BEVERAGES & TOBACCO AND GENERAL WHOLESALE TRADE
FELL SIGNIFICANTLY BY 17.7% AND 15.1% RESPECTIVELY.
FOREIGN WHOLESALE TRADE INDEX
AS COMPARED TO 3Q2004, THE OVERALL FOREIGN WHOLESALE TRADE FOR 3Q2005
ROSE BY 22%. EXCLUDING PETROLUEM, THE INDEX ROSE BY 10.2%.
SIMILAR TO THE DOMESTIC SALES, OVERSEAS SALES OF SHIP CHANDLERS &
BUNKERING AND WHOLESALERS OF PETROLEUM & PETROLEUM PRODUCTS ROSE
SUBSTANTIALLY BY 50.3% AND 38.6% OVER 3Q2004, MAINLY DUE TO THE HIGHER OIL
PRICES.
WHOLESALING OF ELECTRONIC COMPONENTS, INDUSTRIAL & CONSTRUCTION
MACHINERY AND TELECOMMUNICATIONS & COMPUTERS ALSO REPORTED STRONG GROWTH IN
OVERSEAS SALES.
FOLLOWING EIGHT SUCCESSIVE QUARTERS OF DOUBLE-DIGIT GROWTHS, SALES OF
CHEMICALS & CHEMICAL PRODUCTS INCREASED SLIGHTLY BY 2.5% IN 3Q2005.
IN CONTRAST, FOREIGN SALES OF HOUSEHOLD EQUIPMENT & FURNITURE FELL
FURTHER IN 3Q2005 BY 13.7%. IT WAS LED BY THE WHOLESALING OF TV AND SOUND
REPRODUCING EQUIPMENT.
AT CONSTANT PRICES, THE OVERALL INDEX ROSE BY 7.6% IN 3Q2005 OVER
3Q2004. EXCLUDING PETROLEUM, IT WAS UP BY 10.8%.
IN COMPARISON TO 2Q2005, THE OVERALL INDEX FOR 3Q2005 REGISTERED A RISE
OF 9.9%.
EXCLUDING PETROLEUM, THE GROWTH WAS LOWER AT 5.7%.
STRONG GROWTH WERE REPORTED IN WHOLESALE SECTORS OF ELECTRONIC COMPONENTS,
SHIP CHANDLERS & BUNKERING AND PETROLEUM & PETROLEUM PRODUCTS.
RETAIL TRADE
RETAIL SALES CHALKED UP AN IMPRESSIVE 9.9% GROWTH IN 3Q2005, ALBEIT A
MODERATION FROM THE SECOND QUARTER’S GROWTH RATE OF 12%. THE SALES OF MOTOR
VEHICLES EASED FROM 2Q2005 RISE OF 15%, BUT STILL GREW BY 12% IN THE LAST
QUARTER. EXCLUDING MOTOR VEHICLES, RETAIL SALES GREW BY 7.9% IN THIRD QUARTER,
BETTER THAN THE 7.5% RECORDED IN THE SECOND QUARTER.
ON A YEAR-ON-YEAR BASIS, MOST RETAIL SEGMENTS REGISTERED BETTER SALES.
THE SEGMENTS WERE TELECOMMUNICATIONS AND COMPUTERS (23%), WEARING
APPAREL AND FOOTWEAR (12%), FURNITURE AND HOUSEHOLD EQUIPMENT (11%), DEPARTMENT
STORES (11%), FOOD AND BEVERAGES (9.2%), MEDICAL GOODS AND TOILETRIES (7.4%),
RECREATIONAL GOODS (6.4%), OPTICAL GOODS AND BOOKS (5.9%), PROVISION AND SUNDRY
SHOPS (5.8%), WATCHES AND JEWELLERY (5.3%), PETROL SERVICE STATIONS (1.1%) AND
SUPERMARKETS (0.4%).
NOVEMBER RETAIL SALES RISE 2.4%
SINGAPORE’S RETAIL SALES ROSE IN NOVEMBER AT THE SLOWEST
PACE IN NINE MONTHS AS TOURISM GROWTH EASED, CAR SALES FELL AND CONSUMERS CUT
SPENDING AFTER STOCKING UP FOR RELIGIOUS FESTIVALS.
RETAIL SALES INDEX ROSE 2.4% IN NOVEMBER 2005 FROM NOVEMBER 2004 AFTER A
PREVIOUS GAIN OF 10.2%. THAT WAS LOWER THAN THE MOST PESSIMISTIC ESTIMATE IN A
BLOOMBERG SURVEY OF 13 ECONOMISTS, WHERE THE MEDIAN FORECAST WAS AN 11% RISE.
EXCLUDING VEHICLES, RETAIL SALES GREW BY 5.2% FROM THE SAME MONTH A YEAR
EARLIER.
ON A SEASONALLY ADJUSTED BASIS, NOVEMBER RETAIL SALES FELL 8.7% FROM THE
PREVIOUS MONTH. EXCLUDING CARS, THE INDEX FELL BY 6.3%.
DEPARTMENT STORE SALES ROSE 4.8% LAST NOVEMBER AS COMPARED TO NOVEMBER
2004 AFTER A 16% GAIN IN THE PREVIOUS MONTH, THE FIGURES SHOWED. NOVEMBER
VEHICLE SALES, WHICH MAKE UP MORE THAN A QUARTER OF THE INDEX, DECLINED
SLIGHTLY BY 0.5% FROM NOVEMBER 2004 FOLLOWING A 8.9% RISE IN THE PREVIOUS
MONTH. SALES OF FURNITURE AND HOUSEHOLD EQUIPMENT ROSE BY 0.4% IN NOVEMBER 2005
FROM NOVEMBER 2004, LESS THAN THE 17% RISE IN OCTOBER.
AHEAD
AN OVERALL NET BALANCE OF 22% OF FIRMS IN THE SERVICES SECTOR IS
OPTIMISTIC ABOUT THE BUSINESS OUTLOOK FOR THE NEXT 3 MOTNHS ENDING MARCH 2006.
THE MAGNITUDE IS SLIGHTLY LOWER COMPARED TO THAT REGISTERED IN THE PERIOD OF
JULY-DECEMBER 2005 (26%), AND ALSO LOWER THAN THE 30% NET BALANCE RECORDED FOR
OCTOBER 2004 – MARCH 2005.
AN OVERALL NET BALANCE OF 8% OF WHOLESALERS PREDICTS POSITIVE BUSINESS
CONDITIONS FOR THE COMING MONTHS. THOSE DEALING IN ELECTRONIC COMPONENTS,
TELECOMMUNICATIONS EQUIPMENT AND COSMETICS & TOILETRIES ARE AMONG THOSE WHO
ARE OPTIMISTIC ABOUT THE BUSINESS OUTLOOK AHEAD.
RETAILERS ALSO EXPRESS UPBEAT BUSINESS SENTIMENTS FOR THE COMING MONTHS,
WITH A POSITIVE NET BALANCE OF 38%, ESPECIALLY DEPARTMENT STORES AND RETAILERS
OF WEARING APPAREL AND FURNITURE & FURNISHINGS FORESEE BETTER BUSINESS
OUTLOOK FROM THE
YEAR-END FESTIVE SEASON.
HOTELIERS PROJECT A POSITIVE OUTLOOK FOR THE MONTHS AHEAD, WITH A
POSITIVE NET BALANCE OF 64%, IN ANTICIPATION OF AN INCREASE IN TOURIST ARRIVALS
AND OCCUPANCY RATE. SIMILARLY, IN CATERING TRADE, RESTAURANTS AND FOOD CATERERS
FORESEE FAVOURABLE BUSINESS CONDITIONS IN THE COMING MONTHS.
EXTRACTED FROM : MINISTRY
OF TRADE AND INDUSTRY, SINGAPORE
SINGAPORE DEPARTMENT OF STATISTICS BLOOMBERG
ESTIMATED
FINANCIAL RESOURCE
IN ESTIMATING THE FINANCIAL RESOURCE OF ANY COMPANY, THE
QUALITY OF THE COMPANY’S ASSETS AS WELL AS THEIR CONVERTIBILITY INTO CASH OR
LOANS ARE TAKEN INTO ACCOUNT. WEIGHTAGE IS GIVEN TO EACH ASSET DEPENDENT UPON
QUALITY AND AVAILABILITY.
AN NR MEANS NO RATING DUE TO THE LACK OF FINANCIAL DATA UPON
WHICH NO OPINION CAN BE FORMULATED.
WHILST ESTIMATED FINANCIAL RESOURCE GIVES AN INDICATION OF
THE SIZE OF THE COMPANY, COMPOSITE CREDIT APPRAISAL PROVIDES AN INDICATION OF
ITS CREDIT STANDING.
COMPOSITE
CREDIT APPRAISAL
THE COMPOSITE CREDIT APPRAISAL IS A RATING OF THE IMPORTANT
ELEMENTS OF CREDITWORTHINESS, INCLUDING SALES/PROFITABILITY, PRESENT LIQUIDITY,
PRESENT INDEBTEDNESS, SUPPLIERS’ RATING, BUSINESS TRENDS, FUTURE CASH FLOW AND
THE GENERAL MARKET REPUTATION OF THE COMPANY. WEIGHTAGE IS ASSIGNED TO EACH
FACTOR TO REFLECT THEIR RELATIVE IMPORTANCE IN THE SINGAPORE SITUATION.
AN NR FOLLOWING BY A COMPOSITE CREDIT RATING OF 1,2,3 OR 4
IS INDICATIVE OF A LACK OF FINANCIAL DATA: NEVERTHELESS, WE HAVE BEEN ABLE TO
RATE THE COMPANY BASED SOLELY ON ITS GENERAL MARKET REPUTATION.
RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an
extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |