MIRA
INFORM REPORT
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Report Date : |
16th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SBC PETROCHEMICAL PTE LTD |
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Registered Office : |
9 Temasek Boulevard, #31-02, Duxton Room Suntec Tower Two, Singapore 038989, Singapore |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
10.05.2001 |
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Legal Form : |
Pte Ltd |
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Line of Business : |
The
promotion, sales, distribution, marketing, import and export of crude oil,
natural gas steam, high-temperature hot water, petroleum, petroleum products,
petroleum derivatives and its chemical raw products of every description and
origin. |
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
SBC PETROCHEMICAL PTE LTD
Line Of Business
THE PROMOTION, SALES, DISTRIBUTION,
MARKETING, IMPORT AND EXPORT OF CRUDE OIL, NATURAL GAS STEAM, HIGH-TEMPERATURE
HOT WATER, PETROLEUM, PETROLEUM PRODUCTS, PETROLEUM DERIVATIVES AND ITS
CHEMICAL RAW PRODUCTS OF EVERY DESCRIPTION AND ORIGIN.
Parent Company
CONCORD INTERNATIONAL OIL LTD
(PERCENTAGE OF SHAREHOLDING: 60%)
Financial Elements
FY 2005
CONSOLIDATED
Sales :
S$134,588,121
Networth :
S$6,589,107
Paid-Up Capital : S$250,000
Net result :
S$3,054,808
Net
Margin(%) : 2.27
Return on Equity(%) : 46.36
Leverage Ratio : 2.52
Rating
Credit Rating : Sing $ 5 000
00 1 to Sing $ 10 000 000
BUSINESS INFORMATION REPORT
COMPANY IDENTIFICATION
Subject Company : SBC PETROCHEMICAL PTE LTD
Former Name : -
Business Address : 9 TEMASEK BOULEVARD, #31-02, DUXTON ROOM SUNTEC TOWER TWO
Town : SINGAPORE
Postcode : 038989
County : -
Country : Singapore
Telephone : 6396 3862
Fax : 6398 0329
ROC Number : 200103064K
Reg. Town : -
SUMMARY
All amounts in this report are in: SGD unless otherwise stated
Legal Form : Pte Ltd
Date Inc. : 10/05/2001
Previous Legal Form : -
Summary year : 31/12/2005
Sales : 134,588,121
Networth : 6,589,107
Capital : 500,000
Paid-Up Capital : 250,000
Employees : 13
Net result : 3,054,808
Share value : 1
AUDITOR : K B LEE & CO
REFERENCES
Litigation : No
Company status : TRADING
Started : 10/05/2001
PRINCIPAL(S)
LEUNG MAN HIM K5612136 Director
DIRECTOR(S)
LEUNG MAN HIM K5612136 Director
Appointed on : 10/05/2001
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER TWO
Town : SINGAPORE
Postcode : 038989
Country : Singapore
LEUNG MAN HIM K5612136 Company Secretary
Appointed on : 01/01/2006
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER TWO
Town : SINGAPORE
Postcode : 038989
Country : Singapore
CHAN LUK YAN VICKY HA9055643 Director
Appointed on : 01/06/2005
Street : FLAT F, 8 FLOOR, KWEILIN HOUSE, TSUEN WAN CENTER, TSUEN WAN
Town :
Postcode :
Country : Hong Kong
VICTORIA HO HA9061334 Director
Appointed on : 01/07/2005
Street : SUITE 1121B OCEAN CENTRE, 5 CANTON ROAD, TSIMSHATSUI
Town : KOWLOON
Postcode :
Country : Hong Kong
LEUNG KAI FAI S2670046I Director
Appointed on : 01/07/2003
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER TWO
Town : SINGAPORE
Postcode : 038989
Country : Singapore
CHEUNG SUI LING S2670047G Director
Appointed on : 10/05/2001
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER 2
Town : SINGAPORE
Postcode : 038989
Country : Singapore
FORMER DIRECTOR(S)
WEE WOON HONG S1681953J
ACTIVITY(IES)
PETROL And OIL MARKETERS And DISTRS Code:16320
PETROLEUM PRODUCTS Code:16350
BASED ON ACRA'S RECORD AS AT 13/02/2007
1) WHOLESALE OF PETROCHEMICAL PRODUCTS; HORSE BREEDING, HORSE
RACING & RELATED ACTIVITIES
CHARGES
Date : 19/09/2005
Comments : CHARGE NO : C200505623
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE : THE HONGKONG AND SHANGHAI BANKING
CORPORATION LTD
Date : 12/12/2006
Comments : CHARGEE NO. : C200608362, C200608364, C200608365
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] : THE BANK OF TOKYO-MITSUBISHI UFJ, HONG KONG
BRANCH
Date : 12/12/2006
Comments : CHARGEE NO. : C200608367, C200608366
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] : THE BANK OF TOKYO-MITSUBISHI UFJ, HONG KONG
BRANCH
Date : 19/09/2001
Comments : CHARGE NO : 200104552
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE(S) : THE HONGKONG AND SHANGHAI BANKING CORPN LTD
Date : 23/12/2004
Comments : CHARGE NO : C200406579
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE : THE BANK OF EAST ASIA LTD
Date : 24/11/2004
Comments : CHARGE NO : C200405892
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE : THE HONGKONG AND SHANGHAI BANKING
CORPORATION LTD
Date : 15/02/2005
Comments : CHARGEE NO. : C200500934
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] : THE BEST OF EAST ASIA LIMTED
PREMISES/PROPERTY INFORMATIONS
No Premises/Property Information In Our
Databases
BANKERS
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED
THE BANK OF EAST ASIA LIMITED
SHAREHOLDERS(S)
CONCORD INTERNATIONAL OIL LTD 150,000 Company
Street : THE CREDQUE BUILDING PO BOX 116, ROAD TOWN
Town : TORTOLA
Postcode : BVI
Country : Virgin Islands (British)
LEUNG MAN HIM 75,000 Private Person
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER TWO
Town : SINGAPORE
Postcode : 038989
Country : Singapore
CHEUNG SUI LING 25,000 Private Person
Street : 9 TEMASEK BOULEVARD, #31-02, SUNTEC TOWER 2
Town : SINGAPORE
Postcode : 038989
Country : Singapore
HOLDING COMPANY
CONCORD INTERNATIONAL OIL LTD UF29239H % : 60.00
SUBSIDIARY(IES)
SBC ASIA PACIFIC PTY LTD
Australia
SBC (TIANJIN) CHEMICAL CO. LTD
China
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: 31/10/2006
Balance Sheet Date: 31/12/2005
31/12/2004 31/12/2003
Number of weeks: 52
52 52
Consolidation Code:
CONSOLIDATED
CONSOLIDATED CONSOLIDATED
ASSETS
Tangible Fixed Assets: 3,371,062
158,121 159,624
Investments
46,830 - -
Total Fixed Assets: 3,417,892
158,121 159,624
Inventories: 8,555,557 6,035,312
5,108,703
Receivables: 7,415,428 16,006,672
1,913,214
Cash,Banks, Securitis: 2,461,572
2,679,506
1,621,632
Other current assets: 1,354,562
529,380 177,746
Total Current Assets: 19,787,119
25,250,870
8,821,295
TOTAL ASSETS: 23,205,011 25,408,991
8,980,919
LIABILITIES
Equity capital: 250,000 250,000
250,000
Reserves: 39,499 9,892
-4,756
Profit & lost Account: 6,197,698
3,330,873
1,806,641
Other: 101,910 69,253 17,001
TOTAL EQUITY: 6,589,107 3,660,018
2,068,886
Long Term Loans: 2,176,906 - -
Total L/T Liabilities:
2,176,906 - -
Trade Creditors: 8,461,344
18,424,796 5,149,288
Prepay. & Def. charges: 267,819
89,289 62,879
Advanced payments: 361,308
257,368 159,761
Due to Bank: 4,269,352 2,479,952
1,299,173
Provisions: 991,192 494,413
240,613
Other Short term Liab.: 87,983
3,155 319
Total short term Liab.: 14,438,998
21,748,973
6,912,033
TOTAL LIABILITIES: 16,615,904 21,748,973 6,912,033
PROFIT & LOSS ACCOUNT
Net Sales
134,588,121
73,493,386
20,298,153
Gross Profit: - -
2,521,345
Result of ordinary operations - - 926,270
NET RESULT BEFORE TAX: 3,999,828
2,200,705
883,625
Tax : 945,020 465,900
216,164
Net income/loss year: 3,054,808 1,734,805 664,208
Interest Paid: 238,265 77,046
42,645
Depreciation: 95,260 26,571
22,831
Dividends: 160,000
160,000 296,400
Directors Emoluments: 571,700
84,000 84,000
Wages and Salaries: 906,261
190,934 129,105
Financial Income: 30,660 8,276 3,512
RATIOS
31/12/2005 31/12/2004 31/12/2003
Turnover per employee:
10352932.38
5653337.38 1561396.38
Net result / Turnover(%):
0.02
0.02 0.03
Stock / Turnover(%):
0.06
0.08 0.25
Net Margin(%):
2.27
2.36 3.27
Return on Equity(%):
46.36 47.40 32.10
Return on Assets(%):
13.16
6.83 7.40
Dividends Coverage:
19.09
10.84 2.24
Net Working capital:
5348121.00
3501897.00 1909262.00
Cash Ratio:
0.17
0.12 0.23
Quick Ratio:
0.68
0.86 0.51
Current ratio:
1.37
1.16 1.28
Receivables Turnover:
19.83
78.41 33.93
Leverage Ratio:
2.52
5.94 3.34
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
Dividends Coverage : Net income loss year/Dividends
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 GROUP WAS
SEEN TO BE FAIR IN VIEW OF THE FOLLOWING:
NET WORTH:
THE BALANCE SHEET WAS CONSIDERED PASSABLE
WITH NET WORTH IMPROVED BY 80.03% FROM S$3,660,018 IN FY 2004 TO S$6,589,107 IN FY 2005. THIS
WAS DUE TO HIGHER ACCUMULATED PROFIT OF S$6,197,698 (2004:
S$3,330,873); A RISE OF 86.07% FROM THE PRIOR FINANCIAL YEAR.
LEVERAGE:
IN THE SHORT-TERM, SUBJECT WAS LARGELY
FINANCED BY TRADE CREDITORS WHICH MADE UP 58.60% (2004: 84.72%) OF THE TOTAL CURRENT
LIABILITIES AND AMOUNTED TO S$8,461,344 (2004: S$18,424,796). THE
BREAKDOWN IS AS FOLLOWS:
-TRADE CREDITORS - 2005: S$5,564,554 (2004:
S$15,679,690)
-RELATED PARITES - 2005: S$2,896,790 (2004:
S$ 2,745,106)
IN THE LONG-TERM, SUBJECT WAS WHOLLY
FINANCED BY LONG TERM LOANS AND AMOUNTED TO S$2,176,906 (2004: -). THE BREAKDOWN IS AS FOLLOWS:
-TERM LOAN - SECURED - 2005: S$2,176,906
(2004: -)
AMOUNT DUE TO BANKS OF S$4,269,352 (2004:
S$2,479,952) CONSISTED OF:
-TERM LOAN - SECURED - 2005: S$165,324
(2004: -)
-BILLS PAYABLE -SECURED - 2005: S$4,104,028 (2004: S$2,479,952)
IN ALL, LEVERAGE RATIO FELL FROM 5.94 TIMES
TO 2.52 TIMES AS A RESULT OF A DECLINE IN TOTAL LIABILITIES AND A RISE IN TOTAL EQUITY.
LIQUIDITY:
IN GENERAL, SUBJECT'S LIQUIDITY SITUATION
WAS PASSABLE AS SEEN FROM THE CHANGES IN NET WORKING CAPITAL AND LIQUIDITY RATIOS. CURRENT
RATIO ROSE TO 1.37 TIMES, UP FROM 1.16 TIMES AND QUICK RATIO FELL TO
0.68 TIMES FROM 0.86 TIMES IN FY 2004.
NET WORKING CAPITAL IMPROVED BY 52.72% FROM
S$3,501,897 IN FY 2004 TO S$5,348,121.
CASH AND CASH EQUIVALENTS COMPRISE OF:
-CASH AND BANK BALANCES - 2005: S$2,030,451
(2004: S$2,349,490)
-FIXED DEPOSITS WITH BANKS - 2005: S$431,121
(2004: S$330,016)
PROFITABILITY:
REVENUE POSTED AN INCREASE OF 83.13% FROM
S$73,493,386 IN FY 2004 TO S $134,588,121 AND NET PROFIT ROSE BY 76.09% TO S$3,054,808 (2004: S
$1,734,805). HENCE, NET MARGIN FELL TO 2.27% (2004: 2.36%).
DEBT
SERVICING:
DEBT SERVICING PROBLEMS MIGHT NOT BE
EXPECTED IF REVENUE AND EARNINGS CAN BE MAINTAINED AND PAYMENT BY TRADE DEBTORS ARE FORTHCOMING. IN
ADDITION, ITS INTEREST COVERAGE WAS HEALTHY CONSIDERING THAT ITS INTEREST
EXPENSES WERE LOW AT S$238,265 IN FY 2005 (2004: S$77,046).
NOTES TO
THE FINANCIAL STATEMENTS:
TERM LOAN AND
BANKING FACILITIES:
THE TERM LOAN AND BANKING FACILITIES ARE
SECURED BY:
(I) LEGAL MORTGAGE ON THE DOCUMENTS OF THE
TITLE OF THE PROPERTY WITH
A CARRYING VALUE OF S$3,133,952 (2004: NIL)
(II) THE CERTIFICATE OF THE FIXED DEPOSITS
OF S$345,810 (2004: S
$329,682)
(III) LEGAL ASSIGNMENT OVER THE COMPANY'S
ACCOUNTS RECEIVABLES; AND
(IV) MEGATIVE PLEDGE OVER THE ASSETS OF THE
COMPANY
THE INTEREST RATE OF THE TERM LOAN AT THE
BALANCE SHEET DATE IS
5.1585% P.A.
CONTINGENT
LIABILITIES (UNSECURED)
AT THE BALANCE SHEET DATE, THERE WERE
CONTINGENT LIABILITIES IN RESPECT OF THE FOLLOWINGS: BILLS DISCOUNTED - 2005:
S$356,175 (2004: 3,931,539)
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN THE REPUBLIC
OF SINGAPORE ON
10/05/2001 AS A LIMITED PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT
NAMESTYLE AS "SBC PETROCHEMICAL PTE LTD".
AS AT 13/02/2007, THE COMPANY HAS ISSUED AND
PAID-UP CAPITAL OF 250,000 SHARES OF A VALUE OF S$250,000.
PRINCIPAL ACTIVITIES:
SUBJECT IS REGISTERED WITH THE ACCOUNTING
& CORPORATE REGULATORY AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) WHOLESALE OF PETROCHEMICAL PRODUCTS;
HORSE BREEDING, HORSE RACING & RELATED
ACTIVITIES
2) WHOLESALE OF PETROCHEMICAL PRODUCTS
DURING THE FINANCIAL YEAR UNDER REVIEW, THE
PRINCIPAL ACTIVITIES OF THE COMPANY CONSIST OF THE PROMOTION, SALES, DISTRIBUTION,
MARKETING, IMPORT AND EXPORT OF CRUDE OIL, NATURAL GAS STEAM,
HIGH-TEMPERATURE HOT WATER, PETROLEUM, PETROLEUM PRODUCTS, PETROLEUM
DERIVATIVES AND ITS CHEMICAL RAW PRODUCTS OF EVERY DESCRIPTION AND
ORIGIN.
THE SUBJECT IS NOT LISTED IN THE DIRECTORIES
AND INTERNET. AS SUCH, NO OTHER INFORMATION IS AVAILABLE.
NO OTHER TRADE INFORMATION IS AVAILABLE AS
TELE-INTERVIEW WAS NOT GRANTED BY SUBJECT'S PERSONNEL ON 15/02/2007.
THE HOLDING AND ULTIMATE HOLDING COMPANY IS
CONCORD INTERNATIONAL OIL LIMITED, INCORPORATED IN BRITISH VIRGIN ISLAND.
NUMBER OF EMPLOYEES (31 DECEMBER):
* COMPANY - 2005: NOT AVAILABLE (2004: 13;
2003: 11; 2002: 3)
* GROUP
- 2005: - (2004: - )
REGISTERED AND BUSINESS ADDRESS:
9 TEMASEK BOULEVARD
#31-02
DUXTON ROOM SUNTEC TOWER TWO
SINGAPORE 038989
- RENTED PREMISE
- OWNED BY CARDIFF INVESTMENTS PTE LTD
- DATE OF CHANGE OF ADDRESS: 01/03/2002
WEBSITE:
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EMAIL:
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MANAGEMENT
THE DIRECTORS AT THE TIME OF THE REPORT ARE:
1) CHAN LUK YAN VICKY, A CHINESE
- BASED IN HONG KONG.
2) VICTORIA HO, A CHINESE
- BASED IN HONG KONG.
3) LEUNG MAN HIM, A BRITISH
- BASED IN SINGAPORE.
4) LEUNG KAI FAI, A SINGAPORE PERMANENT
RESIDENT
- HOLDS NO OTHER DIRECTORSHIP IN OUR
DATABASE.
5) CHEUNG SUI LING, A SINGAPORE PERMANENT
RESIDENT
-
HOLDS NO OTHER DIRECTORSHIP IN OUR DATABASE.
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.
SOURCES: COFACE
COPYRIGHT. ALL RIGHTS RESERVED.
WHOLESALE AND RETAIL 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.
WHOLESALE TRADE
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%.
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%.
SHIP CHANDLERS & BUNKERING MAINTAINED THEIR GROWTH
MOMENTUM OF 63.5% IN THE FIRST QUARTER OF 2006, IN COMPARISON TO THE HIGHER
81.7% GROWTH IN 4Q2005. 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.
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%.
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
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|