MIRA
INFORM REPORT
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Report Date : |
12.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
GREENMAC INTERNATIONAL PTE LTD |
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Registered Office : |
2 Bukit Batok
Street 24, #05-09, Skytech Building, Singapore – 659480 |
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Country : |
Singapore |
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Date of Incorporation : |
15/03/1994 |
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Com. Reg. No.: |
199401760M |
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Legal Form : |
Exempt Pte Ltd |
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Line of Business : |
Offers a Total Solution in Laundry
Industries |
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 : |
Exempt Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Subject Company
GREENMAC INTERNATIONAL PTE LTD
Line Of
Business
OFFERS A TOTAL SOLUTION IN LAUNDRY
INDUSTRIES
Parent Company
--
Financial Elements
Sales :
-
Networth :
-
Paid-Up
Capital : S$100,000
Net result : -
Net Margin(%) : -
Return on Equity(%) : -
Leverage Ratio : -
COMPANY
IDENTIFICATION
Subject Company : GREENMAC INTERNATIONAL PTE
LTD
Former Name :
-
Business Address : 2 BUKIT BATOK STREET 24
#05-09
SKYTECH BUILDING
Town :
SINGAPORE
Postcode : 659480
County :
-
Country :
Singapore
Telephone : 6665 7322
Fax :
6665 7922
ROC Number :
199401760M
Reg. Town : -
SUMMARY
All amounts in
this report are in : SGD
Legal Form :
Exempt Pte Ltd
Date Inc. :
15/03/1994
Previous Legal
Form :
-
Summary year :
-
Sales :
-
Paid-Up Capital :
100,000
Net Worth :
-
Employees :
-
Net Result :
-
Auditor :
S K LAI & CO
REFERENCES
Litigation :
No
Company status :
TRADING
Started :
15/03/1994
PRINCIPAL(S)
EUGEN FUNG YIU
CHUEN S2572284A Director
DIRECTOR(S)
CHENG LIN FAN S2572285Z Director
Appointed on : 15/03/1994
Street : 3 QUEEN'S
ROAD
#04-171
Town :
SINGAPORE
Postcode : 260003
Country : Singapore
CHAN LAI YIN S1296164B Company Secretary
Appointed on : 30/06/1998
Street : 349
WOODLANDS AVENUE 3
#13-51
Town :
SINGAPORE
Postcode : 730349
Country : Singapore
EUGEN FUNG YIU
CHUEN S2572284A Director
Appointed on : 24/08/1998
Street : 3 QUEEN'S
ROAD
#04-171
Town :
SINGAPORE
Postcode : 260003
Country : Singapore
ACTIVITY (IES)
GEARS And GEAR
CUTTING Code: 10190
MACHINERY Code:
13260
IMPORTERS And
EXPORTERS Code: 11760
BASED ON ACRA'S
RECORD AS AT 06/03/2007
1) MANUFACTURE OF
GEARS, GEARING AND DRIVING ELEMENTS; MANUFACTURE/REPAIR NON-ELECT
MACHINERY/EQUIPMENT
CHARGES
Date :
01/04/2005
Comments : CHARGE NO:
C200501875
AMOUNT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S): DBS BANK LIMITED
Date :
14/03/2001
Comments : CHARGE NO:
200101196
AMOUNT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S): DBS BANK LIMITED
Date :
08/06/1994
Comments : CHARGE NO:
9403173
AMOUNT SECURED: 0.00
AND ALL MONIES OWING
CHARGEE(S): KTB LIMITED
PREMISES/PROPERTY
INFORMATIONS
Date :
08/03/2007
Tax rate : 10%
Site Address : 2 BUKIT BATOK STREET 24
#05-09
SKYTECH BUILDING
Town :
SINGAPORE
Postcode : 659480
Country : Singapore
Annual Value : SGD 17,000
* TAX
RATE OF 4% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS OWNER OCCUPIED.
* TAX
RATE OF 10% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS PARTIALLY OR FULLY
RENTED OUT BY THE OWNER/OWNED BY COMPANY.
* FOR
PROPERTIES OTHER THAN RESIDENTIAL PROPERTIES REGARDLESS RENTED OUT OR NOT, THE
TAX RATE IS 10% (I.E INDUSTRIAL AND COMMERCIAL PROPERTY).
* 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.
BANKERS
DBS BANK LTD.
KTB LIMITED
SHAREHOLDERS(S)
EUGEN FUNG YIU
CHUEN
50,000 Private Person
Street : 3 QUEEN'S
ROAD
#04-171
Town :
SINGAPORE
Postcode : 260003
Country : Singapore
CHENG LIN FAN 50,000
Private Person
Street : 3 QUEEN'S
ROAD
#04-171
Town :
SINGAPORE
Postcode : 260003
Country : Singapore
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
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.
* THE LATEST
FINANCIAL STATEMENTS FILED IN BY THE COMPANY AS AT YEAR ENDED 31/03/2006
ARE NOT AVAILABLE. AS SUCH, ADVERSE CHECKS
ON THE LOCAL DIRECTORS WILL BE CONDUCTED.
BACKGROUND/OPERATION
THE COMPANY WAS
INCORPORATED IN THE REPUBLIC OF SINGAPORE ON 15/03/1994 AS A LIMITED EXEMPT
PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT NAMESTYLE AS "GREENMAC
INTERNATIONAL PTE LTD".
AS AT 06/03/2007,
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 & CORPORATE REGULATORY AUTHORITY (ACRA) TO BE
PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) MANUFACTURE OF
GEARS, GEARING AND DRIVING ELEMENTS; MANUFACTURE/REPAIR NON-ELECT
MACHINERY/EQUIPMENT
2) GENERAL
WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS & EXPORTERS)
FROM THE RESEARCH
CONDUCTED, THE FOLLOWING INFORMATION WAS GATHERED:
SUBJECT IS LISTED
IN THE SINGAPORE LOCAL DIRECTORY UNDER THE CLASSIFICATION OF: CLEANING
EQUIPMENT - MANUFACTURERS & DISTRIBUTORS.
SUBJECT ENGAGES IN
THE FOLLOWING ACTIVITY:
* OFFERS A TOTAL
SOLUTION IN LAUNDRY INDUSTRIES
- INDUSTRIAL
LAUNDRY DESIGN
- LAUNDRY
EQUIPMENT DESIGN
- CHEMICALS
- OPERATING SYSTEM
ENGINEERING
SERVICES RENDERED:
* MANAGEMENT &
BUSINESS DIRECTION
* PRODUCTION
* PURCHASING
* MATERIAL
MANAGEMENT
* PLANNING &
SCHEDULING
* PROJECT
MANAGEMENT
EQUIPMENT:
* LAUNDRY
EQUIPMENT
* SAND BLASTING
EQUIPMENT
* BRUSHING
EQUIPMENTS
* HIGH SPEED LACE
BRAIDING MACHINE
* COLOUR FLOCKING
MACHINE
* EMBROIDERY
MACHINES
CHEMICALS:
* DESIZING AGENT
* CELLULASE ENZYME
* SOFTENER
* OPTICAL
BRIGHTENER
* DESPERSING &
LEVELING AGENTS
* ANTI-STAIN &
FIXING AGENTS
* SPECIALTY
CHEMICAL
* SILICONE
NO OTHER TRADE
INFORMATION WAS MADE AVAILABLE VIA THE TELE INTERVIEW CONDUCTED ON 08/03/2007.
STAFF STRENGTH WAS DENIED BY THE SUBJECT'S PERSONNEL.
REGISTERED
ADDRESS:
2 BUKIT BATOK
STREET 24
#05-09
SINGAPORE 659480
DATE OF CHANGE OF
ADDRESS: 01/07/2005
BUSINESS ADDRESS:
2 BUKIT BATOK
STREET 24
#05-09
SKYTECH BUILDING
SINGAPORE 659480
-- HEAD OFFICE
-- OWNED PREMISE
WEBSITE:
*
http://www.greenmac.com.sg
EMAIL:
*
Greenmac@singnet.com.sg
OVERSEAS OFFICES:
CHINA
SHOWROOM
GUANGZHOU ZHEN
XING TRADING CO., LTD
UNIT 4-5, NO 590
SHI LIANG ROAD, SHAWAN TOWN, PANYU, CHINA
POSTAL CODE:
511483
TEL: 86-20-84741338,
3473 8990 FAX: (86) 20 3473 7225
PERSON TO CONTACT:
MR. ZIMSKY CHEN
EMAIL:
Greenmac@21cn.com
BANGLADESH LIAISON
OFFICE
GREENMAC
INTERNATIONAL
HOUSE NO 173/B,
ROAD NO.23
NEW DOHS,
MOHAKHALI,
DHAKA-1206,
BANGLADESH
TEL/ FAX:
(880)-2-9881660
PERSON TO CONTACT:
MR. LINKON / MR. SANOAR
EMAIL: Greenmac@agni.com
MANAGEMENT
THE DIRECTORS AT
THE TIME OF THIS REPORT ARE:
1) EUGEN FUNG YIU
CHUEN, A SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIP AS RECORDED
IN OUR DATABASE
2) CHENG LIN FAN,
A SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIP AS RECORDED
IN OUR DATABASE
ADVERSE ON DIRECTORS
DIRECTOR'S NAME:
EUGEN FUNG YIU CHUEN
ADVERSE REPORT
AGAINST DIRECTOR: NIL
PROPERTY
OWNERSHIP: NIL
ANNUAL VALUE: NA
CO-OWNER: NA
DIRECTOR'S NAME:
CHENG LIN FAN
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
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
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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 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 |
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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 |
|
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 |
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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%)