MIRA
INFORM REPORT
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Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
BHP BILLITON MARKETING AG (SINGAPORE BRANCH) |
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Registered Office : |
168 Robinson Road, #10-01, Capital Tower, Singapore 068912, Singapore. |
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Country : |
Singapore |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
28.04.2005 |
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Legal Form : |
Foreign Company |
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Line of Business : |
Marketing and trading of products and derivatives
of all kinds, including raw materials, metals, energy and other commodities
or related products, and the provision of services. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
BHP BILLITON MARKETING AG (SINGAPORE BRANCH)
Line Of Business
MARKETING AND TRADING OF PRODUCTS AND
DERIVATIVES OF ALL KINDS, INCLUDING RAW MATERIALS, METALS, ENERGY AND OTHER COMMODITIES
OR RELATED PRODUCTS, AND THE PROVISION OF SERVICES.
Parent Company
-
Financial Elements
FY2006
BRANCH
Sales :
US$11,421,886,000
Networth :
US$ 9,976,000
Paid-Up
Capital : -
Net result :
US$ 392,191,000
Net Margin(%) : 3.43
Return on Equity(%) : 3,931.35
Leverage Ratio : 221.20 TIMES
Rating
Credit Rating : Sing $ 10 000
00 1 to Sing $ 50 000 000
BUSINESS INFORMATION REPORT
COMPANY IDENTIFICATION
Subject Company : BHP BILLITON MARKETING AG (SINGAPORE BRANCH)
Former Name : -
Business Address : 168 ROBINSON ROAD, #10-01, CAPITAL TOWER
Town : SINGAPORE
Postcode : 068912
County : -
Country : Singapore
Telephone : 6349 3333
Fax : 6349 4000
ROC Number : F 06681W
Reg. Town : -
SUMMARY
All amounts in this report are in : USD
Legal Form : Foreign Company
Date Inc. : 28/04/2005
Previous Legal Form : -
Summary year : 30/06/2006
Sales : 11,421,886,000
Net Worth : 9,976,000
Paid-Up Capital : 11,421,886,000
Employees : -
Net Result : 392,191,000
Share value : -
Auditor : NIL
BASED ON ACRA'S
RECORD AS AT 01/03/2007
AUTHORISED CAPITAL
SWISS FRANC 142,000,000.00 V/SHARE 1.00
REFERENCES
Litigation :
No
Company status :
TRADING
Started :
28/04/2005
PRINCIPAL(S)
No principals
recorded in our Database
DIRECTOR(S)
THOMAS H. SCHUTTE 428931704 Director
Appointed on : 01/12/2003
Street : JAN WAGTENDONKSTRAAT 29, NL 2251 RM VOORSCHOTEN
Town : -
Postcode : -
Country : Netherlands
TERENCE G.M. BRIANT 761019753 Director
Appointed on : 15/12/2000
Street : GRABENACKERSTRASSE 48
Town : STEINHAUSEN
Postcode : CH 6312
Country : Switzerland
JULIUS L. MATTHYS E7076010 Director
Appointed on : 20/07/2005
Street : ATJEHSTRAAT 124, NL 2585 VN
Town : THE HAGUE
Postcode : -
Country : Netherlands
MICHAEL M. MCMULLEN E7079140 Director
Appointed on : 20/07/2005
Street : 32 NASSIM HILL, #02-38, NASSIM MANSION
Town : SINGAPORE
Postcode : 258472
Country : Singapore
HANS WILLE F0453971 Director
Appointed on : 15/12/2000
Street : ALFRED-ULRICH-STRASSE 8
Town : ZOLLIKON
Postcode : CH 8702
Country : Switzerland
ROLF MUELLER F1296856 Director
Appointed on : 15/04/2002
Street : REBENWEG 24A, CH 6331
Town : HUNENBERG
Postcode : -
Country : Switzerland
MARTIN A. SCHERER F1592421 Director
Appointed on : 21/02/2005
Street : ALTE LANDSTRASSE 99, CH 8800
Town : THALWIL
Postcode : -
Country : Switzerland
URSULA KILLER F1671794 Director
Appointed on : 23/03/2000
Street : FROHBURGWEG 15, CH 6340
Town : BAAR
Postcode : -
Country : Switzerland
ALEXANDER JACOBUS BOONZAAIER VAN G5632254Q Agent
Appointed on : 28/04/2005
Street : 25 ANDERSON ROAD, #05-03, AVALON
Town : SINGAPORE
Postcode : 259986
Country : Singapore
MICHAEL M. MCMULLEN G5753684K Agent
Appointed on : 19/01/2006
Street : 168 ROBINSON ROAD, #10-01, CAPITAL TOWER
Town : SINGAPORE
Postcode : 068912
Country : Singapore
PUAL A. KOPPELMAN L3111478 Director
Appointed on : 14/02/2006
Street : GROOT HOEFIJZERLAAN 22, NL 2244 GJ
Town : WASSENAAR
Postcode : -
Country : Netherlands
ACTIVITY (IES)
COMMODITY
TRADERS Code: 5010
TRADING
COMPANIES Code: 22190
BASED ON ACRA'S
RECORD AS AT 01/03/2007
1) OTHER SUPPORT
ACTIVITIES; MARKETING & TRADING OF PRODUCTS, COMMODITIES
AND DERIVATES OF ALL KINDS
CHARGES
No Charges On
Premises/Property In Our Database
PREMISES/PROPERTY INFORMATIONS
No
Premises/Property Information In Our Databases
BANKERS
BANK OF AMERICA
NATIONAL ASSOCIATION
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED
SHAREHOLDERS(S)
No Shareholders
In Our Database
SUBSIDIARY (IES)
No Participation
In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality : AVERAGE
Liquidity : SUFFICIENT
Payments : REGULAR
Trend : UNKNOWN
Financial Situation : AVERAGE
LITIGATION(S)
No Litigation In
Our Database
FINANCIAL ELEMENTS
All amounts in this report
are in : USD
Audit Qualification: UNQUALIFIED (CLEAN)
Balance Sheet Date: 30/06/2006
Number of weeks: 52
Consolidation Code: BRANCH
ASSETS
Preliminary Exp 27,961,000
Total Fixed Assets: 27,961,000
Inventories: 243,180,000
Receivables: 1,283,526,000
Cash, Banks, Securities: 45,608,000
Other current assets: 616,431,000
Total Current Assets: 2,188,745,000
TOTAL
ASSETS:
2,216,706,000
LIABILITIES
Total Equity: 9,976,000
Other long term Liab.: 25,055,000
Total L/T Liabilities: 25,055,000
Trade Creditors: 1,192,275,000
Due to Bank: 122,615,000
Provisions: 23,466,000
Other Short term Liab.: 843,319,000
Total short term Liab.: 2,181,675,000
TOTAL
LIABILITIES:
2,206,730,000
PROFIT & LOSS ACCOUNT
Net Sales 11,421,886,000
Purchases,Sces & Other
Goods: 11,005,226,000
Gross Profit: 461,660,000
NET RESULT BEFORE TAX: 393,215,000
Tax :
1,024,000
Net income/loss year: 392,191,000
Interest Paid: 8,395,000
Wages and Salaries: 1,469,000
Financial Income: 6,708,000
RATIOS
30/06/2006
Net result /
Turnover(%): 0.03
Stock / Turnover(%): 0.02
Net Margin(%): 3.43
Return on Equity(%): 3931.35
Return on Assets(%): 17.69
Net Working capital: 7070000.00
Cash Ratio: 0.02
Quick Ratio: 0.61
Current ratio: 1.00
Receivables Turnover: 40.45
Leverage Ratio: 221.20
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
AUDITORS' REPORT:
THE SINGAPORE
BRANCH IS A SEGMENT OF BHP BILLITON MARKETING AG, INCORPORATED
IN BAAR, SWITZERLAND AND IS NOT A SEPARATELY INCORPORATED LEGAL
ENTITY. THE ATTACHED FINANCIAL STATEMENTS HAVE BEEN PREPARED FROM
THE OF THE BRANCH AND REFLECT ONLY TRANSACTIONS RECORDED LOCALLY.
THE FINANCIAL
CONDITION OF THE BRANCH WAS DEEMED TO BE FAIR IN VIEW OF THE
FOLLOWING:
NET WORTH:
THE BALANCE SHEET
WAS PASSABLE WITH AMOUNT DUE TO HEAD OFFICE ACCOUNT TOTALLING
USD9,976,000. THIS COMPRISED OF THE FOLLOWING:
2006
US$'000
AT 1 JULY
2005 -
TRANSFER FROM HEAD
OFFICE 69,942
NET PROFIT FOR THE
PERIOD, REPRESENTING TOTAL
RECOGNISED INCOME &
EXPENSE FOR THE PERIOD 392,191
REPATRIATION OF
PROFITS TO HEAD OFFICE (452,157)
AS AT 30 JUNE
2006
9,976
LEVERAGE:
THE LEVERAGE RATIO
WAS EXCESSIVE AT 221.20 TIMES, INDICATING THAT THE BRANCH'S
TOTAL LIABILITIES WERE HIGHLY SUBSTANTIAL IN RELATION TO ITS TOTAL
EQUITY.
TRADE CREDITORS
REGISTERED AT USD1,192,275,000, ACCOUNTING FOR 54.65% OF THE TOTAL
CURRENT LIABILITIES. OTHER SHORT TERM LIABILITIES OF USD843,319,000
REPRESENTED:
* OTHER PAYABLES
OF USD43,172,000
* FAIR VALUE
DERIVATIVES OF USD352,872,000
* AMOUNTS DUE TO
HEAD OFFICE (NON-TRADE) OF USD447,275,000
LIQUIDITY:
THE OVERALL
LIQUIDITY OF THE BRANCH WAS FAIRLY HEALTHY. NET WORKING CAPITAL
REGISTERED AT USD7,070,000.
ON THE OTHER HAND,
BOTH THE QUICK AND CURRENT RATIOS WERE LACKING AT 0.61 TIMES
AND 1.00 TIMES RESPECTIVELY.
PROFITABILITY:
REVENUE FOR FY2005
TOTALLED USD11,421,886,000 WHILE THE NET INCOME POSTED AT
USD392,191,000. AS A RESULT, NET MARGIN WAS COMPUTED AT 3.43%.
DEBT SERVICING:
DEBT SERVICING
PROBLEMS MIGHT NOT BE ANTICIPATED IN VIEW OF THE SUFFICIENT
NET WORKING CAPITAL, AND IF REVENUES AND NET INCOMES CONTINUE TO BE
GENERATED.
IN ADDITION,
AVERAGE COLLECTION PERIOD WAS COMPUTED AT 40 DAYS.
NOTES TO THE FINANCIAL STATEMENTS:
CONTINGENT
LIABILITIES
THE HEAD OFFICE
AND THE BRANCH SHARE AN UNSECURED TRADE FINANCE FACILITY,
AMOUNTING TO USD315.0 MILLION AS AT 30 JUNE 2006, OF WHICH A TOTAL
OF USD88.8 MILLION WAS UTILISED AT THAT DATE. THE BRANCH'S UTILISATION
AS AT 30 JUNE 2006 AMOUNTED TO USD3.5 MILLION.
COMPARATIVE
INFORMATION
NO COMPARATIVE
FIGURES ARE AVAILABLE AS THIS IS THE FIRST SET OF FINANCIAL
STATEMENTS PREPARED BY THE BRANCH SINCE INCORPORATION.
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED
IN SWITZERLAND AND REGISTERED AS A FOREIGN BRANCH IN SINGAPORE ON
28/04/2005 UNDER THE PRESENT NAMESTYLE OF "BHP BILLITON
MARKETING AG (SINGAPORE BRANCH)".
AS AT 01/03/2007,
SUBJECT HAS AN AUTHORISED CAPITAL OF 142,000,000 SWISS FRANC.
PRINCIPAL
ACTIVITIES:
SUBJECT IS
REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY AUTHORITY
(ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) OTHER SUPPORT
ACTIVITIES; MARKETING & TRADING OF PRODUCTS, COMMODITIES
AND DERIVATES OF ALL KINDS
DURING THE
FINANCIAL YEAR(S), UNDER REVIEW, SUBJECT'S PRINCIPAL ACTIVITIES
ARE THOSE RELATING TO THE MARKETING AND TRADING OF PRODUCTS AND
DERIVATIVES OF ALL KINDS, INCLUDING RAW MATERIALS, METALS, ENERGY
AND OTHER COMMODITIES OR RELATED PRODUCTS, AND THE PROVISION OF
SERVICES.
THE BRANCH IS A
SEGMENT OF BHP BILLITON MARKETING AG (THE "HEAD OFFICE"),
INCORPORATED IN BAAR, SWITZERLAND. AND IS NOT A SEPARATELY INCORPORATED
LEGAL ENTITY.
FROM THE RESEARCH
CONDUCTED, THE FOLLOWING INFORMATION WAS GATHERED:
SUBJECT IS LISTED
IN THE SINGAPORE LOCAL DIRECTORY UNDER THE CLASSIFICATION OF: MARKETING
CONSULTANTS.
NEWS:
QASCO, BHP
BILLITON SIGN MARKETING DEAL – QATAR MIST NEWS, 09:48, 27 NOVEMBER 2006
QATAR STEEL
COMPANY (QASCO), A QATARI JOINT STOCK COMPANY AND AN AFFILIATE OF
INDUSTRIES QATAR (IQ), RECENTLY SIGNED IN SINGAPORE A MARKETING
AGREEMENT WITH BHP BILLITON MARKETING AG (SINGAPORE BRANCH) TO
MARKET MORE THAN 350,000 TONNES PER YEAR OF HOT BRIQUETTED IRON (HBI).
THE MARKETING AGENCY AGREEMENT EFFECTIVE IN 2007 WILL PROVIDE BHP
BILLITON WITH THE EXCLUSIVE RIGHTS TO MARKET QATAR STEEL HBI IN CERTAIN
ASIAN MARKETS. THE HIGH-QUALITY HBI IS TO BE PRODUCED FROM THE
NEWLY-BUILT 1.5 MILLION TONNE DIRECT REDUCTION PLANT STARTING IN THE
FIRST QUARTER OF 2007. THE SIGNING CEREMONY WAS ATTENDED FROM THE QASCO
SIDE, BY SHEIKH NASSER BIN HAMAD AL THANI, DIRECTOR AND GENERAL MANAGER,
SAAD AL MOHANNADI, DIVISION MANAGER, ALI HASAN MURAIKHI DIVISION
MANAGER, COMMERCIAL AND DR IDRIS GAMIL SENIOR LEGAL ADVISER.
INFORMATION ON HEAD OFFICE:
SUBJECT HAS SOME
38,000 EMPLOYEES WORKING IN MORE THAN 100 OPERATIONS IN
APPROXIMATELY 25 COUNTRIES.
THE CENTRAL TENET
OF THE BHP BILLITON BUSINESS MODEL IS THAT ITS DIVERSIFIED
PORTFOLIO OF HIGH QUALITY ASSETS PROVIDES MORE STABLE CASH FLOWS AND
GREATER CAPACITY TO DRIVE GROWTH THAN THE TRADITIONAL RESOURCE
CYCLICALS. IN 2006, WE GENERATED TURNOVER OF US$39.1 BILLION, UNDERLYING
EARNINGS BEFORE INTEREST AND TAX (UNDERLYING EBIT) OF US $15.3
BILLION, ATTRIBUTABLE PROFIT (EXCLUDING EXCEPTIONAL ITEMS) OF US$10.2
BILLION AND NET OPERATING CASH FLOW OF US$10.5 BILLION. AS AT 31
JANUARY 2007 OUR MARKET CAPITALISATION
WAS US$118 BILLION.
BUSINESS SECTORS:
* ALUMINIUM
* BASE METALS
* DIAMONDS &
SPECIALTY PRODUCTS
* ENERGY COAL
* IRON ORE
* MANGANESE
* METALLURGICAL
COAL
* PETROLEUM
* STAINLESS STEEL
MATERIALS
NO OTHER TRADE
INFORMATION WAS MADE AVAILABLE ON 06/03/2007.
REGISTERED AND
BUSINESS ADDRESS:
168 ROBINSON ROAD
#10-01
CAPITAL TOWER
SINGAPORE 068912
DATE OF CHANGE OF
ADDRESS: 28/04/2005
WEBSITE:
*
http://www.bhpbilliton.com/bb/home.jsp
EMAIL:
* NA
MANAGEMENT
THE DIRECTORS AT
THE TIME OF THIS REPORT ARE:
1) THOMAS H.
SCHUTTE, A SOUTH AFRICAN
- BASED IN THE
NETHERLANDS
2) TERENCE G.M.
BRIANT, A BRITISH
- BASED IN
SWITZERLAND
3) JULIUS L.
MATTHYS, AN AUSTRALIAN
- BASED IN THE
NETHERLANDS
4) MICHAEL M.
MCMULLEN, AN AUSTRALIAN
- BASED IN
SINGAPORE
5) HANS WILLE, A
SWISS
- BASED IN
SWITZERLAND
6) ROLF MUELLER, A
SWISS
- BASED IN
SWITZERLAND
7) MARTIN A.
SCHERER, A SWISS
- BASED IN
SWITZERLAND
8) URSULA KILLER,
A SWISS
- BASED IN
SWITZERLAND
9) PUAL A.
KOPPELMAN, AN AUSTRALIAN
- BASED IN THE
NETHERLANDS
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.
WHOLESALE
AND RETAIL TRADE SECTOR
PAST PERFORMANCE
DOMESTIC WHOLESALE TRADE
INDEX
DOMESTIC WHOLESALE TRADE IN
4Q 2006 HAS DECLINED BY 6.9%. EXCLUDING PETROLEUM, DOMESTIC SALES REMAINED AT
SIMILAR LEVEL COMPARED TO THE PREVIOUS QUARTER.
GENERAL WHOLESALE TRADE POSTED
THE LARGEST SALES DECREASE OF 16.6%, FOLLOWED BY THE SECTORS OF PETROLEUM AND
PETROLEUM PRODUCTS OF 15.7% AND HOUSEHOLD EQUIPMENT AND FURNITURE OF 13.2%.
SECTORS OF INDUSTRIAL AND
CONSTRUCTION MACHINERY AND ELECTRONIC COMPONENTS REGISTERED GROWTHS OF 17.0%
AND 12.3%, RESPECTIVELY.
FOREIGN WHOLESALE TRADE
INDEX
ON A QUARTER-TO-QUARTER
BASIS, OVERALL FOREIGN WHOLESALE TRADE CONTRACTED BY 7.9% IN 4Q 2006 AFTER TWO
QUARTERS OF POSITIVE GROWTH. FOREIGN SALES WENT DOWN BY 1.6%, EXCLUDING
PETROLEUM.
THE SECTORS OF PETROLEUM
AND PETROLEUM PRODUCTS AND ELECTRONIC COMPONENTS MARKED LOWER OVERSEAS SALE OF
14.2% AND 11.6% RESPECTIVELY IN 4Q 2006 OVER 3Q 2006.
RETAIL TRADE
IN GENERAL, RETAIL SALES
GREW BY 7.9% IN 4Q 2006, UP FROM THE 5.2% IN THE PREVIOUS QUARTER. THIS BROUGHT
FULL YEAR GROWTH FOR 2006 TO 6.9%, DOWN FROM 9.0% IN 2005. EXCLUDING MOTOR
VEHICLE SALES, RETAIL SALES ROSE 4.1%, SLOWING FROM THE 7.2% GAIN IN THE
PREVIOUS YEAR.
MOST RETAIL SECTORS REPORTED
BRISK BUSINESS IN DEC. 2006. SALES OF RECREATIONAL GOODS, DEPARTMENT STORES,
WEARING APPAREL AND FOOTWEAR, FURNITURE AND HOUSEHOLD EQUIPMENT, WATCHES AND
JEWELLERY CLIMBED BY 36.6% TO 44.2% IN DEC. 2006 COMPARED TO THE PREVIOUS
MONTH.
LIKEWISE, RETAILERS OF
OPTICAL GOODS AND BOOKS, TELECOMMUNICATIONS APPARATUS AND COMPUTERS, FOOD AND
BEVERAGES, MEDICAL GOODS AND TOILETRIES AND SUPERMARKETS ENJOYED GROWTH BETWEEN
12.7% TO 26.0%.
OUTLOOK
FOR WHOLESALE TRADE, A NET
WEIGHTED BALANCE OF 11% OF FIRMS ANTICIPATES BUSINESS TO BE LESS BRISK FOR
COMING MONTHS. THOSE DEALING IN JEWELLERY AND WATCHES, INDUSTRIAL MACHINERY AND
EQUIPMENT, TELECOMMUNICATIONS EQUIPMENT AND ELECTRONIC COMPONENTS ARE AMONG
THOSE WHO FORESEE SLOWER BUSINESS IN THE COMING MONTHS.
FOR RETAILERS, A NET
WEIGHTED BALANCE OF 8%, FORECAST THE BUSINESS CONDITIONS TO IMPROVE IN THE NEXT
SIX MONTHS. DEPARTMENT STORES OWNERS AND RETAILERS OF FURNITURE AND FURNISHINGS
ARE OPTIMISTIC ABOUT THE BUSINESS PROSPECTS.
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 |
|
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%)