MIRA
INFORM REPORT
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Report Date : |
25th January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
D.S.M. DIAMONDS PTE. LTD. |
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Registered Office : |
14 Amber Gardens, #16-04, Amber Park, Singapore 439960, Singapore |
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Country : |
Singapore |
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Date of Incorporation : |
16.03.2006 |
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Legal Form : |
Exempt Pte Ltd |
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Line of Business : |
Wholesale of Diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small/ Unknown Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
D.S.M. DIAMONDS PTE. LTD.
Line Of Business
WHOLESALE OF DIAMONDS
Parent Company
-
Financial Elements
Sales :
-
Networth :
-
Paid-Up Capital :
S$500
Net result :
-
Net Margin(%) : -
Return on Equity(%) : -
Leverage Ratio :
-
BUSINESS INFORMATION REPORT
COMPANY IDENTIFICATION
Subject Company : D.S.M. DIAMONDS PTE. LTD.
Former Name : D.M.S. DIAMONDS PTE LTD
Business Address : 14 AMBER GARDENS, #16-04, AMBER PARK
Town : SINGAPORE
Postcode : 439960
County : -
Country : Singapore
Telephone : 6440 9091
Fax : 6440 9190
ROC Number : 200603731Z
Reg. Town : -
PREVIOUS IDENTIFICATION
D.M.S. DIAMONDS PTE LTD (DATE
OF CHANGE OF NAME :
24/03/2006)
SUMMARY
All amounts in this report are in : SGD
Legal Form : Exempt Pte Ltd
Date Inc. : 16/03/2006
Previous Legal Form : -
Summary year : -
Sales : -
Paid-Up Capital : 500
Net Worth : -
Employees : -
Net Result : -
Auditor : NIL
REFERENCES
CCMS Number : 702005090834
Report Date : 26/01/2007
Update Date : 25/01/2007
Credit Requested : -
Credit Opinion : -
Litigation : No
Company status : TRADING
Started : 16/03/2006
PRINCIPAL(S)
MANOJ KANJI MEHTA S2721108I Director
DIRECTOR(S)
MANOJ KANJI MEHTA S2721108I Director
Appointed on : 16/03/2006
Street : 14 AMBER GARDENS, #16-04, AMBER PARK
Town : SINGAPORE
Postcode : 439960
Country : Singapore
PADMA MANOJ MEHTA S7160648A Company Secretary
Appointed on : 31/05/2006
Street : 14 AMBER GARDENS, #16-04, AMBER PARK
Town : SINGAPORE
Postcode : 439960
Country : Singapore
ACTIVITY (IES)
IMPORTERS And EXPORTERS Code: 11760
GOLD, SILVER And PLATINUM DEALERS Code: 10540
BASED ON ACRA'S RECORD AS AT 22/01/2007
1) GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS & EXPORTERS);
IMPORT & EXPORT IN GOLD AND SILVER JEWELLERY, DIAMONDS & WATCHES
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)
MANOJ KANJI MEHTA 500 Private Person
Street : 14 AMBER GARDENS, #16-04, AMBER PARK
Town : SINGAPORE
Postcode : 439960
Country : Singapore
SUBSIDIARY (IES)
No Participation In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality : UNKNOWN
Liquidity : UNKNOWN
Payments : UNKNOWN
Trend : UNKNOWN
Financial Situation : UNKNOWN
LITIGATION(S)
No Litigation In Our Database
FINANCIAL COMMENTS
NEWLY-SETUP
COMPANY
SUBJECT BEING NEWLY INCORPORATED
AND HAS YET TO FILE IN ITS FIRST SET
OF ACCOUNTS. A NEWLY
INCORPORATED COMPANY HAS UP TO 18 MONTHS FROM THE
DATE OF INCORPORATION TO FILE IN
ITS FIRST SET OF ACCOUNTS.
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.
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN
THE REPUBLIC OF SINGAPORE ON 16/03/2006 AS A LIMITED EXEMPT PRIVATE COMPANY AND WAS
FORMERLY KNOWN AS "D.M.S. DIAMONDS PTE. LTD.".
SUBSEQUENTLY ON 24/03/2006,
SUBJECT CHANGED TO ITS PRESENT NAMESTYLE OF "D.S.M. DIAMONDS
PTE. LTD.".
AS AT 22/01/2007, SUBJECT HAS AN
ISSUED AND PAID-UP CAPITAL OF 500 SHARES OF A VALUE OF
S$500.
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 & EXPORTERS);
IMPORT & EXPORT IN GOLD AND
SILVER JEWELLERY, DIAMONDS & WATCHES
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 INFORMATION WAS
GATHERED AS A TELE-INTERVIEW REQUEST WAS DENIED ON 25/01/2007.
REGISTERED
AND BUSINESS ADDRESS:
14 AMBER GARDENS
#16-04
AMBER PARK
SINGAPORE 439960
DATE OF CHANGE OF ADDRESS:
20/05/2006
-- RENTED PREMISE
-- PREMISE OWNED BY: CHEN MUN
& HAH KWAI FUN
WEBSITE:
* http://www.dsmdiamonds.com
(UNDER CONSTRUCTION)
EMAIL:
* dsmdiamonds@gmail.com
MANAGEMENT
THE DIRECTORS AT THE TIME OF
THIS REPORT ARE:
1) MANOJ KANJI MEHTA, A SINGAPORE
PERMANENT RESIDENT
- HOLDS NO OTHER DIRECTORSHIP AS
RECORDED IN OUR DATABASE
ADVERSE ON DIRECTORS
DIRECTOR'S NAME :
MANOJ KANJI MEHTA
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.
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.
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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