MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
DSM ELASTOMERS ASIA |
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Registered Office : |
152 BEACH ROAD,
#10-01/04, GATEWAY
EAST, SINGAPORE – 189721 |
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Country : |
Singapore |
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Date of Incorporation : |
28/03/2000 |
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Com. Reg. No.: |
52916006D |
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Legal Form : |
Sole Proprietor |
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Line of Business : |
Wholesale of Chemicals and Chemical
Products |
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 : |
Regular |
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Litigation : |
Clear |
Subject Company
DSM ELASTOMERS ASIA
Line Of
Business
WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS
Parent Company
DSM SINGAPORE INDUSTRIAL PTE LTD
Financial Elements
Sales :
-
Networth :
-
Paid-Up
Capital : -
Net result : -
Net Margin(%) : -
Return on Equity(%) : -
Leverage Ratio : -
Rating
Credit Rating : Sing $ 100001 to Sing $
300000
COMPANY
IDENTIFICATION
Subject Company
: DSM
ELASTOMERS ASIA
Former Name : -
Business
Address: 152 BEACH ROAD
#10-01/04
GATEWAY EAST
Town: SINGAPORE
Postcode: 189721
County: -
Country: Singapore
Telephone: 6295
7188
Fax: 6299 5848
ROC Number: 52916006D
Reg. Town: -
SUMMARY
All amounts in
this report are in: SGD
unless otherwise stated
Legal Form: Sole
Proprietor
Date Inc.: 28/03/2000
Previous Legal
Form: -
Summary year
: -
Sales: -
Capital: -
Paid-Up
Capital: -
Employees: -
Net result : -
Share value: -
REFERENCES
Litigation: No
Company status
: TRADING
Started : 27/03/2000
PRINCIPAL(S)
No principals recorded in our Database
DIRECTOR(S)
No Directors In Our Database
ACTIVITY(IES)
CHEMICALS
Code:3970
BASED ON ACRA'S
RECORD AS AT 20/04/2007
1) WHOLESALE OF
CHEMICALS AND CHEMICAL PRODUCTS
CHARGES
No Charges On Premises/Property In Our Database
PREMISES/PROPERTY
INFORMATIONS
No Premises/Property Information In Our Databases
BANKERS
No Bankers Information In Our Database
SHAREHOLDERS(S)
DSM SINGAPORE
INDUSTRIAL PTE LTD
27,032,000 Company
Street : 1
MARINA BOULEVARD
#28-00
ONE MARINA BOULEVARD
Town: SINGAPORE
Postcode: 018989
Country: Singapore
HOLDING COMPANY
DSM SINGAPORE
INDUSTRIAL PTE LTD 199100649D
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
SOLE
PROPRIETORSHIP:
BEING A SOLE PROPRIETORSHIP
BUSINESS, THERE IS NO OBLIGATIONS ON THE PART OF THE OWNER TO SUPPLY REGULAR
FINANCIAL UPDATES TO THE REGISTRY OF COMPANIES AND BUSINESSES.THE CREDIT
OPINION IS BASED ON NON-FINANCIAL INDICATORS AS WELL AS OTHER BUSINESS ELEMENTS
AND DATA AVAILABLE.
NO FINANCIAL
INFORMATION WAS REVEALED BY THE MANAGEMENT.
BACKGROUND/OPERATION
THE SUBJECT WAS
REGISTERED IN THE REPUBLIC OF SINGAPORE ON 28/03/2000 AND COMMENCED BUSINESS ON
27/03/2000 AS A SOLE-PROPRIETORSHIP AND IS TRADING UNDER THE NAMESTYLE AS
"DSM ELASTOMERS ASIA".
THE LICENCE WHICH
WAS RENEWED ON 05/03/2007 WILL EXPIRE ON 28/03/2008
THE OWNER SINCE
27/03/2000 IS DSM SINGAPORE INDUSTRIAL PTE LTD.
PRINCIPAL
ACTIVITIES:
SUBJECT IS
REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY AUTHORITY (ACRA) TO
BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) WHOLESALE OF
CHEMICALS AND CHEMICAL PRODUCTS
FROM THE RESEARCH
DONE, THE FOLLOWING INFORMATION WAS GATHERED:
PRODUCTS DEALINGS:
* ENGINEERING
PLASTICS
* PLASTIC RAW
MATERIALS
* PLASTICS
* SYNTHETICS,
SYNTHETIC PRODUCTS AND SERVICES
SEVERAL ATTEMPTS
HAVE BEEN MADE TO CONTACT THE SUBJECT.
HOWEVER, THE CALL WAS NOT ANSWERED.
REGISTERED AND
BUSINESS ADDRESS:
152 BEACH ROAD
#10-01/04 GATEWAY
EAST
SINGAPORE 189721
- RENTED PREMISE
- OWNED BY GATEWAY
LAND LIMITED
- DATE OF CHANGE
OF ADDRESS: -
WEBSITE:
-
EMAIL:
-
MANAGEMENT
THE OWNER AT THE
TIME OF THE REPORT IS:
1) DSM SINGAPORE
INDUSTRIAL PTE LTD
- PAID-UP CAPITAL:
S$200,000 (AS AT 26/04/2007)
- ADVERSE CHECK
AGAINST OWNER: YES
TYPE OF CASE:
MAGISTRATE COURT - W/S
CASE NO : MCS19014/2002
DEFENDANT : DSM SINGAPORE INDUSTRIAL PTE LTD
Singapore’s Country
Rating 2006
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.
OVERVIEW OF SINGAPORE
PAST PERFORMANCE
SINGAPORE’S ECONOMY GREW BY
6.6% IN 4Q 23006, AFTER A 7.0% GROWTH IN 3Q 2006. THE GROWTH MOMENTUM, ON AN
ANNUALISED QUARTER-TO-QUARTER BASIS, DOUBLED TO 7.9% IN 4Q 2006, FROM 3.9% IN
THE PREVIOUS QUARTER. THIS BROUGHT FULL-YEAR REAL GDP GROTH TO 7.9%, HIGHER
THAN THE 6.6% GROWTH IN 2005.
THE MANUFACTURING SECTOR GREW AT A MORE MODEST PACE OF 7.7% IN 4Q 2006,
AFTER A 9.5% EXPANSION IN 3Q 2006. THIS WAS DUE MAINLY TO A FALL IN THE OUTPUT
OF THE ELECTRONICS AND CHEMICALS CLUSTERS, AND SLOWER GROWTH IN THE PRECISION
ENGINEERING CLUSTER. GROWTH IN THE TRANSPORT ENGINEERING CLUSTER EASED BUT
REMAINED STRONG. MEANWHILE, THE BIOMEDICAL MANUFACTURING CLUSTER ACCELERATED
FROM A GROWTH OF 4.7% IN 3Q 2006 TO 27% IN 4Q 2006. FOR THE WHOLE YEAR, THE
MANUFACTURING SECTOR GREW BY 12%, UP FROM 9.5% IN 2005, SUPPORTED BY STRONGER
PERFORMANCES IN THE TRANSPORT ENGINEERING, BIOMEDICAL
MANUFACTURING AND PRECISION ENGINEERING CLUSTERS.
THE WHOLESALE AND RETAIL TRADE SECTOR EXPANDED 6.9% IN 4Q 2006, BUT ITS
GROWTH MOMENTUM WAS DOWN BY 3.5%. THE WHOLESALE SEGMENT MODERATED, WITH GROWTH
OF NON-OIL RE-EXPORTS HALVED FROM 13% IN 3Q 2006 TO 6.3% IN 4Q 2006.
PERFORMANCE OF THE RETAIL SEGMENT IMPROVED FURTHER AS RETAIL SALES WENT UP 7.9%
IN 4Q 2006, COMPARED TO 5.2% IN THE PREVIOUS QUARTER. OVER 2006, THE WHOLESALE
AND RETAIL SECTOR EXPANDED STRONGLY BY 10%, UP FROM 9.6% IN 2005.
THE FINANCIAL SERVICES SECTOR EXPANDED BY 11% IN 4Q 2006, AFTER GROWING
BY 7.4% FROM THE PREVIOUS QUARTER. THE EXPANSION WAS BROAD-BASED ACROSS MOST
SEGMENTS. IN PARTICULAR, THE STOCK TRADING SEGMENT ENJOYED A SHARP INCREASE IN
ACTIVITY DURING THE QUARTER. FUND MANAGEMENT, ASIAN CURRENCY UNITS, AND FOREX
SEGMENTS ALSO REGISTERED STRONG GROWTH IN 4Q 2006. THE STRONG PERFORMANCE IN THE
FINAL QUARTER BROUGHT THE SECTOR’S FULL-YEAR GROWTH TO 9.2%, HIGHER THAN THE
7.6% GAIN IN 2005.
THE CONSTRUCTION SECTOR CONTINUED TO EXPAND BY 4.7%, FOLLOWING 5.8% IN
3Q 2006. GROWTH MOMENTUM ON A SEASONALLY ADJUSTED QUARTER-ON-QUARTER BASIS
REMAINED STRONG AT 12%. CERTIFIED PAYMENTS GREW SLIGHTLY BY 0.7%, DOWN FROM
9.8% IN 3Q 2006. CONTRACTS AWARDED DIPPED 8.0% IN 4Q 2006 AFTER A RISE IN
GROWTH IN THE PREVIOUS QUARTER. FOR THE YEAR, THE SECTOR GREW BY 2.7%, UP FROM
0.7% IN 2005.
THE HOTELS AND RESTAURANTS SECTOR CONTINUED TO STRENGTHEN IN 4Q 2006
WITH A 6.1% INCREASE FOLLOWING A 4.4% GROWTH IN 3Q 2006. VISITOR ARRIVALS ROSE
8.4% COMPARED WITH 4.5% IN THE PREVIOUS QUARTER. THIS HELPED TO RAISE THE
AVERAGE OCCUPANCY RATE OF HOTELS TO 88% IN 4Q 2006, COMPARED TO 85% A YEAR
EARLIER. HOTEL ROOM REVENUES WENT UP 12% AFTER A 28% INCREASE IN 3Q 2006. FOR
THE YEAR AS A WHOLE, THE SECTOR GREW BY 5.1%, UP FROM 4.3% IN 2005, ON THE BACK
OF A RECORD 9.7 MILLION VISITOR ARRIVALS.
THE FINANCIAL SERVICES SECTOR EXPANDED BY 11% IN 4Q 2006, AFTER GROWING
BY 7.4% A QUARTER EARLIER. THE EXPANSION WAS BROAD-BASED ACROSS MOST SEGMENTS.
IN PARTICULAR, THE STOCK TRADING SEGMENT ENJOYED AN INCREASE IN ACTIVITY DURING
THE QUARTER. FUND MANAGEMENT, ASIAN CURRENCY UNITS, AND FOREX SEGMENTS ALSO
REGISTERED STRONG GROWTH IN 4Q 2006. THE STRONG PERFORMANCE IN THE FINAL
QUARTER BROUGHT THE SECTOR’S FULL-YEAR GROWTH TO 9.2%, HIGHER THAN THE 7.6%
GAIN IN 2005.
THE TRANSPORT AND STORAGE SECTOR INCREASE BY 4.0% IN 4Q 2006, SAME AS
THE PREVIOUS QUARTER. WITHIN THE SECTOR, THE AIR TRANSPORT SEGMENT TURNED IN
BETTER PERFORMANCE WHILE THE WATER TRANSPORT SEGMENT MODERATED. SLOWER GROWTH
WAS SEEN IN BOTH SEA CARGO AND AIR CARGO HANDLED. MEANWHILE, GROWTH IN AIR
PASSENGERSHANDLED AND CONTAINER THROUGHPUT IMPROVED COMPARED TO 3Q 2006.
OVERALL, THE TRANSPORT AND STORAGE SECTOR EXPANDED 4.3% IN 2006, SIMILAR TO THE
4.2% IN 2005.
THE INFORMATION AND COMMUNICATIONS SECTOR POSTED A BETTER PERFORMANCE IN
4Q 2006 WITH A GROWTH OF 6.0%, FOLLOWING A 3.6% GAIN IN 3Q 2006. THE NUMBER OF
BROADBAND SUBSCRIBERS CONTINUED TO REGISTER DOUBLE-DIGIT GROWTH IN THE QUARTER.
INTERNATIONAL TELEPHONE CALL DURATION AND THE NUMBER OF MOBILE PHONE
SUBSCRIBERS GREW AT A FASTER PACE COMPARED TO THE PREVIOUS QUARTER. THE SECTOR
EXPANDED BY 4.6% DURING THE YEAR, COMPARED TO 5.5% IN 2005.
THE BUSINESS SERVICES SECTOR ROSE BY 5.4% IN 4Q 2006, FOLLOWING A 5.1%
GAIN IN THE PREVIOUS QUARTER. THE EXPANSION IN THE SECTOR WAS DRIVEN BY ACTIVITIES
IN THE CONSULTANCY, ARCHITECTURAL & ENGINEERING AND BUSINESS REPRESENTATIVE
OFFICES AS WELL AS REAL ESTATE SEGMENT. FOR THE YEAR AS A WHOLE, THE BUSINESS
SERVICES SECTOR INCREASED BY 5.8%, SIMILAR TO THE 5.9% GROWTH ACHIEVED IN 2005.
APART FROM WHOLESALE AND RETAIL TRADE, ALL SECTORS EXPERIENCED POSITIVE
GROWTH MOMENTUM IN 4Q 2006. FOR 2006 AS A WHOLE, ALL SECTORS REGISTERED GROWTH,
LED BY MANUFACTURING, WHOLESALE & RETAIL TRADE AND FINANCIAL SERVICES.
OUTLOOK
THE OUTLOOK FOR THE ECONOMY
IS GENERALLY POSITIVE ALTHOUGH THERE ARE SOME DOWNSIDE RISKS. THE AVIAN FLU
PANDEMIC TREAT HAS RESURFACED AS A GROWING NUMBER OF COUNTRIES REPORTED CASES
OF INFECTION IN BIRDS IN RECENT WEEKS. OTHER UNCERTAINTIES INCLUDE THE
DISORDERLY UNWINDING OF GLOBAL IMBALANCES, TERRORISM AND THE VULNERABILITY OF
OIL PRICES TO SUPPLY SHOCKS. AS A RESULT, THE ECONOMIC GROWTH FORECAST FOR 2007
IS BEING RAISE FROM 4.0% TO 6.0% TO 4.5% TO 6.5%.
REAL ESTATE DEVELOPERS AND
AGENTS AND 73% OF THE REAL ESTATE FIRMS ARE THE MOST OPTIMISTIC. THIS SECTOR IS
EXPECTING TO DO WELL IN THE FIRST HALF OF 2007.
THE MANUFACTURING SECTOR IS
CAUTIOUSLY OPTIMISTIC ABOUT BUSINESS SITUATIONS IN THE NEXT SIX MONTHS OF 2007.
WITHIN THE FINANCIAL
SERVICES INDUSTRY, 46% OF THE FIRMS, INCLUDING COMPANIES ENGAGED IN BANKING AND
FINANCE, STOCK, SHARE AND BOND BROKERAGE, FUND MANAGEMENT AND INSURANCE
ACTIVITIES, ANTICIPATED HIGHER LEVELS OF BUSINESS ACTIVITIES IN THE FIRST 6
MONTHS.
IN THE BUSINESS SERVICES
INDUSTRY, 27% OF THE FIRMS EXPECTS BUSINESS TO PICK UP DURING THE FIRST HALF OF
THE YEAR. IN PARTICULAR, FIRMS ENGAGED IN ACCOUNTING, ARCHITECTURAL AND
ENGINEERING, ADVERTISING AND SECURITY SERVICES AND THE RENTING OF CONSTRUCTION
AND INDUSTRIAL MACHINERY FORESEE HIGHER DEMAND FOR THEIR SERVICES.
WITHIN THE CATERING TRADE
INDUSTRY, 31% OF THE FIRM EXPRESSES POSITIVE BUSINESS SENTIMENTS. MOST
HOTELIERS EXPECTS TO DO WELL IN THE FIRST HALF, IN ANTICIPATION OF HIGHER
TOURIST ARRIVALS AND OCCUPANCY RATE.
RETAILERS, PARTICULARLY
DEPARTMENT STORES OWNERS AND RETAILER OF FURNITURE AND FURNISHINGS, PREDICTS
BUSINESS CONDITIONS TO IMPROVE IN THE NEXT SIX MONTHS.
WHOLESALERS ARE GENERALLY
LESS OPTIMISTIC ABOUT THE BUSINESS ENVIRONMENT. IN PARTICULAR, DEALERS OF
JEWELLERY AND WATCHES, INDUSTRIES MACHINERY AND EQUIPMENT, TELECOMMUNICATIONS
EQUIPMENT AND ELECTRONIC COMPONENTS ARE THOSE WHO FORESEE SLOWER BUSINESS IN
THE COMING MONTHS.
ALSO, TRANSPORT AND
COMMUNICATIONS INDUSTRY IS LESS POSITIVE ABOUT THE BUSINESS OUTLOOK. SHIPPING
LINES EXPECT SLOWER BUSINESS IN THE FIRST HALF DUE TO SEASONAL FACTORS. IN
CONTRAST, FIRMS PROVIDING POST AND COURIER SERVICES FORESEE MORE FAVOURABLE
CONDITIONS.
EXTRACTED FROM: MINISTRY OF
TRADE AND INDUSTRY, SINGAPORE
SINGAPORE DEPARTMENT OF STATISTICS
TODAY
RATING
EXPLANATIONS
|
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 |
|
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 |
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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 |
|
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 |
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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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)