MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SANGHAVI
FAREAST PTE. LTD. |
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Registered Office : |
545 Orchard Road, #10-03, Far East
Shopping Centre, Singapore - 238882 |
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Country : |
Singapore
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Date of Incorporation : |
15/05/2005 |
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Com. Reg. No.: |
200506663K |
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Legal Form : |
Exempt Pte Ltd |
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Line of Business : |
Wholesaling of Diamonds and Precious
Stones |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Subject Company
SANGHAVI
FAREAST PTE. LTD.
Line Of
Business
WHOLESALING OF DIAMONDS AND PRECIOUS STONES
Parent Company
SANGHAVI DIAMONDS PVT. LTD.
(PERCENTAGE OF SHAREHOLDING: 100%)
Financial Elements
Sales :
-
Networth :
-
Paid-Up Capital : S$100,000
Net result : -
Net
Margin(%) : -
Return on Equity(%) : -
Leverage Ratio : -
Rating
Credit Rating : Sing $ 50001 – Sing $ 100000
COMPANY
IDENTIFICATION
Subject Company : SANGHAVI FAREAST PTE. LTD.
Former Name :
-
Business Address : 545 ORCHARD ROAD
#10-03
FAR EAST SHOPPING CENTRE
Town :
SINGAPORE
Postcode :
238882
County :
-
Country :
Singapore
Telephone :
6732 9931
Fax :
6345 7864
ROC Number :
200506663K
Reg. Town :
-
SUMMARY
All amounts in this report are in : SGD
Legal Form :
Exempt Pte Ltd
Date Inc. :
15/05/2005
Previous Legal Form : -
Summary year :
-
Sales :
-
Paid-Up Capital :
100,000
Net Worth :
-
Employees :
-
Net Result :
-
Auditor :
NIL
REFERENCES
Litigation :
No
Company status : TRADING
Started :
15/05/2005
PRINCIPAL(S)
UDAY RAMESH JHAVERI S7080428Z Director
DIRECTOR(S)
SANGHAVI KALPESH VASANTLAL F1226574 Director
Appointed on :
15/05/2005
Street :
19, KAILESH NIKETAN SOCIETY 24
L.D. RUPAREL MARG WALKESHWAR
Town :
MUMBAI M.S.
Postcode :
400006
Country :
India
UDAY RAMESH JHAVERI S7080428Z Director
Appointed on : 15/05/2005
Street :
16 AMBER GARDENS
#10-04
AMBER PARK
Town :
SINGAPORE
Postcode :
439961
Country :
Singapore
SHAH UJVAL RAMANLAL Z1632954 Director
Appointed on : 15/05/2005
Street :
27/ 267 PARISHRAM APARTMENT
SATELLITE ROAD AHMEDABAD
Town :
GUJARAT
Postcode :
-
Country :
India
ACTIVITY (IES)
DIAMONDS - WHSLE Code:
6450
JEWELLERS - RETAIL Code:
12270
BASED ON ACRA'S RECORD AS AT 11/01/2007
1) WHOLESALE OF JEWELLERY; DIAMOND
WHOLESALERS
2) RETAIL SALE OF JEWELLERY; PRECIOUS STONES
DEALERS
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 Databases
SHAREHOLDERS(S)
SANGHAVI DIAMONDS PVT. LTD. 100,000 Company
Street :
4TH FLOOR, NORTH SIDE, 15,
MATHEWS ROAD, CHARNI ROAD
Town :
MUMBAI
Postcode :
400004
Country :
India
HOLDING COMPANY
SANGHAVI DIAMONDS PVT. LTD. UF40227D % :
100
SUBSIDIARY (IES)
No Participation In Our Database
PAYMENT HISTORY AND
EXPERIENCES
Trade Morality : AVERAGE
Liquidity :
UNKNOWN
Payments :
UNKNOWN
Trend :
UNKNOWN
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.
* SUBJECT HAS YET TO FILE IN THE FIRST SET
OF ACCOUNTS.
BACKGROUND/OPERATION
THE SUBJECT WAS INCORPORATED IN THE REPUBLIC
OF SINGAPORE ON 15/05/2005 AS A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING
UNDER ITS PRESENT NAMESTYLE AS "SANGHAVI FAREAST PTE. LTD.".
AS AT 11/01/2007, SUBJECT HAS AN ISSUED AND
PAID-UP CAPITAL OF 100,000 SHARES OF A VALUE OF S$100,000.
PRINCIPAL ACTIVITIES:
SUBJECT IS REGISTERED WITH THE ACCOUNTING
AND CORPORATE REGULATORY AUTHORITY (ACRA) BE PRINCIPALLY ENGAGED IN THE
BUSINESS OF:
1) WHOLESALE OF JEWELLERY; DIAMOND WHOLESALERS
2) RETAIL SALE OF JEWELLERY; PRECIOUS STONES
DEALERS
FROM THE RESEARCH CONDUCTED, THE FOLLOWING
INFORMATION WAS GATHERED:
SUBJECT IS LISTED IN THE SINGAPORE LOCAL
DIRECTORY UNDER THE CLASSIFICATION OF: DIAMONDS - WHOLESALE.
NO OTHER UPDATED TRADE INFORMATION WAS MADE
AVAILABLE ON 17/01/2007 AS THE PERSONNEL DECLINED REVEALING THE STAFF STRENGTH.
FROM THE PRIOR TELE-INTERVIEW CONDUCTED ON
06/10/2005, THE FOLLOWING INFORMATION WAS GATHERED:
PRODUCTS:
* DIAMONDS
IMPORT COUNTRIES:
* MALAYSIA
* INDONESIA
* HONG KONG
MARKET SERVED:
* SINGAPORE
* MALAYSIA
* INDONESIA
* HONG KONG
NO OTHER TRADE INFORMATION WAS MADE
AVAILABLE DURING THE PRIOR TELE-INTERVIEW.
SUBJECT'S HOLDING COMPANY IS SANGHAVI
DIAMONDS PVT. LTD, A COMPANY INCORPORATED IN INDIA.
YOUR PROVIDED ADDRESS:
171 TRAS STREET
#04-171
UNION BUILDING
SINGAPORE 079025
DATE OF CHANGE OF ADDRESS: 15/05/2005
-- OLD REGISTERED ADDRESS
NEW REGISTERED AND BUSINESS ADDRESS:
545 ORCHARD ROAD
#10-03
FAR EAST SHOPPING CENTRE
DATE OF CHANGE OF ADDRESS: 15/10/2006
-- RENTED PREMISE
-- PREMISE OWNED BY: DIASQUA S'PORE PTE.
LTD.
MAILING ADDRESS:
RAFFLES CITY
P.O. BOX-0582
SINGAPORE 911720
WEBSITE:
* NIL
EMAIL:
* uday1970@hotmail.com
MANAGEMENT
THE DIRECTORS AT THE TIME OF THIS REPORT
ARE:
1) SANGHAVI KALPESH VASANTLAL, AN INDIAN
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BASED IN INDIA
2) UDAY RAMESH JHAVERI, A SINGAPORE
PERMANENT RESIDENT
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HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.
3) SHAH UJVAL RAMANLAL, AN INDIAN
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BASED IN INDIA
ADVERSE ON DIRECTORS
DIRECTOR'S NAME: UDAY RAMESH JHAVERI
ADVERSE REPORT AGAINST DIRECTOR: NIL
PROPERTY OWNERSHIP: OWNS 1
ANNUAL VALUE: S$14,400
CO-OWNER: JHAVERI UDAY MANJRI
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
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.
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ONE OF ASIA'S MOST ADVANCED COUNTRIES IN QUALITY COMPETITIVENESS TERMS.
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WORKFORCE'S EDUCATION AND SKILL LEVEL IS VERY HIGH.
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A MAJOR EXPORT OF CAPITAL IN ASIA, PARTICULARLY THE STATE-OWNED HOLDING
COMPANY, TEMASEK.
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THE BUSINESS ENVIRONMENT HAS BEEN VERY FAVOURABLE.
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GREAT POLITICAL STABILITY.
WEAKNESSES
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ECONOMY REMAINED OVERSPECIALISED IN THE ELECTRONICS SECTOR.
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MUST ACCELERATE DIVERSIFICATION IN SERVICES TO MAINTAIN ITS LEAD OVER
OTHER ASIAN ECONOMIES
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REFORMS ARE STILL NEEDED TO FOSTER INNOVATION AND EDUCATION-SYSTEM
MODERNIZATION.
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AGING POPULATION COULD ULTIMATELY AFFECT ECONOMIC PERFORMANCE.
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.
DOMESTIC SALES OF GENERAL WHOLESALE TRADE
ROSE SUBSTANTIALLY BY 61.6%.
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.
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
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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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