MIRA
INFORM REPORT
|
Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CHOON HONG & COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
18 Defu Lane 1,
Defu Industrial Estate, Singapore – 539491 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
02/01/1974 |
|
|
|
|
Com. Reg. No.: |
197400003Z |
|
|
|
|
Legal Form : |
Exempt Pte Ltd |
|
|
|
|
Line of Business : |
Manufacture of Furniture of Rattan and
Cane |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
Subject Company
CHOON HONG & COMPANY PRIVATE LIMITED
Line Of
Business
MANUFACTURE OF FURNITURE OF RATTAN AND CANE
Parent Company
NA
Financial Elements
Sales :
-
Networth :
-
Paid-Up
Capital : S$1,392,000
Net result : -
Net Margin(%) :
-
Return on Equity(%) : -
Leverage Ratio : -
Rating
Credit Rating : Sing $ 1000001 to Sing $ 5000000
COMPANY
IDENTIFICATION
Subject Company : CHOON HONG & COMPANY PRIVATE LIMITED
Former Name :
-
Business Address : 18 DEFU LANE 1
DEFU INDUSTRIAL ESTATE
Town :
SINGAPORE
Postcode :
539491
County :
-
Country :
Singapore
Telephone :
62833200/62846565
Fax :
6284 4988
ROC Number :
197400003Z
Reg. Town :
-
SUMMARY
All amounts in this report are in : SGD
Legal Form :
Exempt Pte Ltd
Date Inc. :
02/01/1974
Previous Legal
Form : -
Summary year :
-
Sales :
-
Networth :
-
Capital :
-
Paid-Up Capital :
1,392,000
Employees :
10
Net result :
-
Share value :
-
Auditor :
H.C. KOH & CO.
BASED ON ACRA'S
RECORD AS AT 19/03/2007
NO
OF SHARE CURRENCY
AMOUNT
ISSUED
ORDINARY 13,920 SGD 1,392,000.00
PAID-UP
ORDINARY - SGD 1,392,000.00
REFERENCES
Litigation :
No
Company status : TRADING
Started :
02/01/1974
PRINCIPAL(S)
TAN YAN PUAN
S0315978G Director
DIRECTOR(S)
TAN YAN PUAN S0315978G Director
Appointed on : 02/01/1974
Street : 17A
VALLEY ROAD
Town : SINGAPORE
Postcode : 534473
Country : Singapore
TAN YAN PUAN S0315978G Manager
Appointed on : 02/01/1974
Street : 17A
VALLEY ROAD
Town :
SINGAPORE
Postcode : 534473
Country : Singapore
TAN SIEW KIM S0676489D Director
Appointed on : 29/01/1974
Street : 456
HOUGANG AVENUE 10
#13-441
Town :
SINGAPORE
Postcode : 530456
Country : Singapore
TAN LAY HIONG S1271792Z Company Secretary
Appointed on : 08/02/1993
Street : 48
RICHARDS AVENUE
Town :
SINGAPORE
Postcode : 546465
Country : Singapore
TAN HIAN TIAN S2006697J Director
Appointed on : 10/08/2004
Street : 17A
VALLEY ROAD
Town :
SINGAPORE
Postcode : 534473
Country : Singapore
ACTIVITY(IES)
FURNITURE
MFRS
Code: 9930
OFFICE
BUILDINGS Code: 15140
BASED ON ACRA'S
RECORD AS AT 19/03/2007
1) MANUFACTURE OF
FURNITURE OF RATTAN AND CANE
2) BUSINESS
REPRESENTATIVE OFFICE
CHARGES
Date :
15/08/2006
Comments : CHARGE NO: C200605380
AMOUNT SECURED:
0.00 AND ALL MONIES OWING
CHARGEE(S):
STANDARD CHARTERED BANK
PREMISES/PROPERTY
INFORMATIONS
Date :
22/03/2007
Tax rate : 10
Site Address : 18 DEFU LANE 1
DEFU INDUSTRIAL
ESTATE
Town :
SINGAPORE
County :
-
Postcode : 539491
Country :
Singapore
Annual Value : 324,000
BANKERS
STANDARD CHARTERED
BANK
SHAREHOLDERS(S)
TAN YAN PUAN
12,240 Private Person
Street : 17A
VALLEY ROAD
Town :
SINGAPORE
Postcode : 534473
Country : Singapore
TAN SIEW KIM 430 Private Person
Street : 456
HOUGANG AVENUE 10
#13-441
Town :
SINGAPORE
Postcode : 530456
Country : Singapore
TAN HIAN TIAN
1,250 Private Person
Street :
17A VALLEY ROAD
Town :
SINGAPORE
Postcode : 534473
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
FINANCIAL COMMENTS
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 02/01/1974 AS A LIMITED EXEMPT
PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT NAMESTYLE AS "CHOON HONG
& COMPANY PRIVATE LIMITED".
AS AT 19/03/2007,
THE COMPANY HAS AN ISSUED AND PAID-UP CAPITAL OF 13,920 SHARES, OF A VALUE OF
S$1,392,000.
PRINCIPAL
ACTIVITIES:
SUBJECT IS
REGISTERED WITH THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY (ACRA) TO BE
PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) MANUFACTURE OF
FURNITURE OF RATTAN AND CANE
2) BUSINESS REPRESENTATIVE
OFFICES
THE COMPANY IS
LISTED IN THE SINGAPORE LOCAL DIRECTORIES UNDER THE CLASSIFICATION OF: CANES
FROM THE RESEARCH
DONE, THE FOLLOWING INFORMATION WAS GATHERED:
ACTIVITIES:
* IMPORTER AND
TRADING OF RATTAN AND CANE MATERIAL FURNITURE, BASKETRY AND OTHER
RELATED PRODUCTS.
PRODUCTS OR
SERVICES:
* BAMBOO PRODUCTS
* CANE GOODS &
FURNITURE
* CLOTHING, USED
* DISABLED &
ELDERLY PERSON AIDS, HAND CANES
* FASHION SERVICES
* FURNITURE
* FURNITURE OR
FURNISHING SERVICES
* FURNITURE,
RATTAN
* IMPORT MERCHANTS
OR AGENTS
* WOODEN FINISHED
& SEMI FINISHED PRODUCTS
SUBJECT IS A
MEMBER OF THE FOLLOWING ENTITIES:
* SINGAPORE
MANUFACTURERS' FEDERATION
* SINGAPORE
CHINESE CHAMBER OF COMMERCE AND INDUSTRY
FROM THE
TELE-INTERVIEW CONDUCTED ON 22/03/2007, THE FOLLOWING WAS GATHERED:
IMPORT COUNTRY:
* MALAYSIA
EXPORT COUNTRIES:
* PAKISTAN
* INDIA
* SUBJECT HAS 10
EMPLOYEES.
REGISTERED AND
BUSINESS ADDRESS:
18 DEFU LANE 1
DEFU INDUSTRIAL
ESTATE
SINGAPORE 539491
DATE OF CHANGE OF
ADDRESS: -
OWNED PREMISE
WEBSITE:
www.ch.com.sg (under construction)
EMAIL:
info@ch.com.sg
MANAGEMENT
THE DIRECTORS AT
THE TIME OF THIS REPORT ARE:
1) TAN YAN PUAN, A
SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIPS AS
RECORDED IN OUR DATABASE.
2) TAN SIEW KIM, A
SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIPS AS
RECORDED IN OUR DATABASE.
3) TAN HIAN TIAN,
A SINGAPOREAN
-
HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR
DATABASE.
ADVERSE ON DIRECTORS
DIRECTOR'S NAME:
TAN YAN PUAN
ADVERSE REPORT AGAINST
DIRECTOR: NIL
PROPERTY
OWNERSHIP: 1
ANNUAL VALUE:
S$19,200
CO-OWNER(S): TAN
HIAN TIAN
DIRECTOR'S NAME:
TAN SIEW KIM
ADVERSE REPORT
AGAINST DIRECTOR: NIL
PROPERTY
OWNERSHIP: 1
ANNUAL VALUE:
S$5,700
CO-OWNER(S): NA
DIRECTOR'S NAME:
TAN HIAN TIAN
ADVERSE REPORT
AGAINST DIRECTOR: NIL
PROPERTY
OWNERSHIP: 1
ANNUAL VALUE:
S$19,200
CO-OWNER(S): TAN
YAN PUAN
* 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.
* 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.
Manufacturing sector
PAST PERFORMANCE
THE MANUFACTURING SECTOR GREW AT A MORE MODEST PACE OF 7.7% IN 4Q 2006,
AFTER A 9.5% EXPANSION IN 3Q 2006. THIS WAS DUE MAINLY TO A FALL IN THE OUTPUT
OF THE ELECTRONICS AND CHEMICALS CLUSTERS, AND SLOWER GROWTH IN THE PRECISION
ENGINEERING CLUSTER. GROWTH IN THE TRANSPORT ENGINEERING CLUSTER EASED BUT
REMAINED STRONG. MEANWHILE, THE BIOMEDICAL MANUFACTURING CLUSTER ACCELERATED
FROM A GROWTH OF 4.7% IN 3Q 2006 TO 27% IN 4Q 2006. FOR THE WHOLE YEAR, THE
MANUFACTURING SECTOR GREW BY 12%, UP FROM 9.5% IN 2005, SUPPORTED BY STRONGER
PERFORMANCES IN THE TRANSPORT ENGINEERING, BIOMEDICAL
MANUFACTURING AND PRECISION ENGINEERING CLUSTERS. THE GENERAL MANUFACTURING INDUSTRIES
EXPANDED 11.0% IN JANUARY 2007. PRODUCTION OF FOOD AND BEVERAGES INDUSTRIES
INCREASED 12.7%, ESPECIALLY FOR FOOD, CHOCOLATE PRODUCTS AND DRINKS WHICH MEET
HIGHER FESTIVE DEMAND. THE PRINTING INDUSTRIES ALSO EXPANDED BY 13.4%
OUTLOOK
THE MANUFACTURING SECTOR IS CAUTIOUSLY OPTIMISTIC ABOUT BUSINESS CONDITIONS
IN THE NEXT SIX MONTHS COMPARED TO THE LAST QUARTER OF 2006. OVERALL, A
WEIGHTED 18% OF THE MANUFACTURERS EXPECT AN IMPROVEMENT IN BUSINESS CONDITIONS
WHILE A WEIGHTED 11% PREDICT DETERIORATION. THIS RESULTS IN A NET WEIGHTED
BALANCE OF 7% OF MANUFACTURERS HAVING AN OPTIMISTIC OUTLOOK, COMPARED TO 22% IN
LAST QUARTER’S SURVEY. THE MODERATION IN SENTIMENTS CAN BE ATTRIBUTED MAINLY TO
A WEAKER OUTLOOK IN THE ELECTRONICS CLUSTER AND SEASONAL SLOWDOWN DUE TO
FESTIVE HOLIDAYS IN THE EARLY PART OF THE YEAR.
EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY,
SINGAPORE
SINGAPORE DEPARTMENT OF
STATISTICS
economic
development board
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%)