MIRA
INFORM REPORT
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Report Date : |
01.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PANIMEX TRADING PTE. LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24/06/1982 |
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Legal Form : |
Private Limited |
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Line of Business : |
International Trading of a range of Diversified Products |
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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Company Name
PANIMEX TRADING PTE. LTD.
Line Of
Business
INTERNATIONAL TRADING OF A RANGE OF DIVERSIFIED PRODUCTS
Parent Company
Nil
Financial Elements
Sales : -
Networth : -
Paid-Up Capital : S$1,000,000
Net result : -
Net Margin(%) : -
Return on Equity(%) : -
Leverage Ratio : -
COMPANY IDENTIFICATION
Subject Company : PANIMEX TRADING PTE. LTD.
Business Address :
Town :
Postcode : 069533
Country :
Telephone : 6224 0133
Fax : 6221 4762
ROC Number : 198202695N
SUMMARY
All amounts in this report are in: USD
Legal Form : Exempt Pte Ltd
Date Inc. : 24/06/1982 Previous
Legal Form : -
Summary year : 31/12/2005
Sales : -
Networth : -
Capital : -
Paid-Up Capital : 1,000,000
Employees : 7
Net result : -
Share value : 1
Auditor : NATARAJAN & SWAMINATHAN
REFERENCES
Litigation : Yes
Company status : TRADING
Started : 24/06/1982
PRINCIPAL(S)
ARUNKUMAR MAHABIR PRASAD JATIA S2559049Z Managing Director
DIRECTOR(S)
ARUNKUMAR MAHABIR PRASAD JATIA S2559049Z Managing Director
Appointed on : 14/01/1987
Street : 6
PEACH GARDEN, #06-08,
Town :
Postcode : 437606
Country :
TULSIYAN VIJAY S2612754H Director
Appointed on : 02/01/1993
Street :
Town :
Postcode : 760167
Country :
ARUNKUMAR MAHABIR PRASAD JATIA S2559049Z Director
Appointed on : 14/01/1987
Street : 6
PEACH GARDEN, #06-08,
Town :
Postcode : 437606
Country :
ARUNKUMAR MAHABIR PRASAD JATIA S2559049Z Company Secretary
Appointed on : 01/05/2004
Street : 6
PEACH GARDEN, #06-08,
Town :
Postcode : 437606
Country :
OMPRAKASH SIRSALEWAL S2744451B Director
Appointed on : 26/05/2004
Street : 36
LORONG MYDIN, #05-03,
Town :
Postcode : 416828
Country :
FORMER DIRECTOR(S)
AGARWAL BHANWARILAL NAGARMAL B562235
JATIA SANTOSH ATMARAM M898795
JATIA ATMARAM RAMKUMAR R890822
ACTIVITY(IES)
COMPUTER PERIPHERALS And ACCESSORIES-WHSLE And MFR Code:5088
ELECTRIC APPLIANCES - MAJOR Code:7300
TRADING COMPANIES Code:22190
AIR COND EQPT And SYSTEMS Code:430
BASED ON ACRA'S
1) WHOLESALE OF TEXTILES
2) WHOLESALE OF HOUSEHOLD ELECTRICAL APPLIANCES & EQUIPMENT (INCLUDING
CHARGES
Date : 12/03/2007
Comments : CHARGE NO: C200701960
AMOUNT SECURED: 0.00 AND ALL MONIES OWING
CHARGEE: HSBC PRIVATE BANK (SUISSE) SA
Date : 19/07/2000
Comments : CHARGE NO: 200003262
AMOUNT SECURED: 0.00 AND ALL MONIES OWING
CHARGEE: THE HONGKONG & SHANGHAI BANKING CORPORATION LTD
Date : 10/12/1990
Comments : CHARGE NO: 9005503 (DISCHARGED)
AMOUNT SECURED: 0.00 AND ALL MONIES OWING
CHARGEE: BANQUE NATIONALE DE
Date : 19/01/1995
Comments : CHARGE NO: 9500423 (DISCHARGED)
AMOUNT SECURED: 0.00 AND ALL MONIES OWING
CHARGEE: BANQUE NATIONALE DE
Date : 02/05/2003
Comments : CHARGE NO: C200301947
AMOUNT SECURED: 0.00 AND ALL MONIES OWING
CHARGEE: THE HONGKONG & SHANGHAI BANKING CORPORATION LTD
PREMISES/PROPERTY INFORMATIONS
No Premises/Property Information In Our Databases
BANKERS
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
UNITED OVERSEAS BANK LIMITED
HSBC PRIVATE BANK (SUISSE) SA
SHAREHOLDERS(S)
ARUNKUMAR MAHABIR PRASAD JATIA 800,000 Private Person
Street : 6
PEACH GARDEN, #06-08,
Town :
Postcode : 437606
Country :
POONAM ARUNKUMAR JATIA 200,000 Private Person
Street : 6
PEACH GARDEN, #06-08,
Town :
Postcode : 437606
Country :
FORMER SHAREHOLDER(S)
TECHNOEUROP LTD 300,000
LORTOL LIMITED 300,000
E M SULAIMAN S/O S E M SHARIFF 1
JATIA SANTOSH ATMARAM 1
JATIA ATMARAM RAMKUMAR 100,001
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)
Type Of Case High Court - W/S
Case Number HWS01464/96
Plaintiff EXPORT SERVICES (S) PTE LTD ROC # : 197201505D
Defendant PANIMEX TRADING PTE. LTD. ROC # : 198202695N
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
THE COMPANY HAS ISSUED AND PAID-UP CAPITAL OF 1,000,000 SHARES OF A VALUE OF S$1,000,000.
PRINCIPAL ACTIVITIES
SUBJECT IS REGISTERED WITH THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY (ACRA) AND BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) WHOLESALE OF TEXTILES
2) WHOLESALE OF HOUSEHOLD ELECTRICAL APPLIANCES & EQUIPMENT
THE COMPANY IS LISTED IN THE
FROM THE RESEARCH DONE, THE FOLLOWING INFORMATION WAS GATHERED:
ACTIVITIES
INTERNATIONAL TRADING GROUP DEALING WITH A DIVERSIFIED
TRACK THE MARKETS SUPPLY AND DEMANDS, CONNECT BUYERS WITH SELLERS AND THEN MANAGE THE RISKS INVOLVED IN DELIVERING THE PRODUCTS TO THEIR DESTINATION
GENERAL MERCHANT AND TRADER COMMISION AGENT
EXPORTER & IMPORTER OF GENERAL MERCHANDISE, ETC
PRODUCTS
AGRICOMMODITIES
* RICE, SUGAR
* EDIBLE OILS
* BEANS AND PULSES
* GROUNDNUTS
* SESAME SEEDS
* ANIMAL FEED
* SPICES
* AGRICULTURAL CHEMICALS
* PESTICIDES
* FRESH CUT FLOWERS
* BABY FOOD
* POP CORN
CONSTRUCTION MATERIALS
* STEEL DEFORMED BARS
* WIRE RODS
* GCI SHEETS
* HOT ROLLED AND COLD ROLLED STEEL
* STRUCTURAL STEEL
* MARINE SHIP PLATES CEMENT
* INDUSTRIAL RAW MATERIALS
AUTOMOTIVE PARTS & ACCESSORIES
* AUTOMOBILE SPARE PARTS
* TYRES AND TUBES
* CAR AIR-CONDITIONING PARTS
* AUTOMOTIVE SECURITY SYSTEM
COMPUTER & PERIPHERALS
FOOD PRODUCTS
* PANMILK & PANCAFE
OTHER
* TEXTILE FABRICS
* OFFICE EQUIPMENT
* HOME APPLIANCES
* TOILETRIES
* STATIONERY
IMPORT COUNTRY
EXPORT COUNTRIES
ASIA PACIFIC REGION (EG
SUBJECT IS A MEMBER OF FOLLOWING ENTITIES
NUMBER OF EMPLOYEES
* 7 (AS OF 2006)
NO OTHER TRADE INFORMATION WAS AVAILABLE AS TELE-INTERVIEW WAS NOT GRANTED BY SUBJECT'S PERSONNEL
REGISTERED AND BUSINESS ADDRESS
#16-12, TONG ENG BUILDING
DATE OF CHANGE OF ADDRESS: 15/03/1988
PREMISE OWNED BY: ARUNKUMAR M P JATIA (ONE OF SUBJECT'S DIRECTOR)
WEBSITE: http://www.panimex.com
EMAIL: singapore@panimex.com
MANAGEMENT
THE DIRECTORS AT THE TIME OF THIS REPORT ARE:
1) ARUNKUMAR MAHABIR PRASAD JATIA, A SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.
2) TULSIYAN VIJAY, A
- HOLDS OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE:
SUN DUCK TEXTILES PTE LTD
3) OMPRAKASH SIRSALEWAL, AN INDIAN
- BASED IN
ADVERSE ON DIRECTORS
DIRECTOR'S NAME : ARUNKUMAR MAHABIR PRASAD JATIA
ADVERSE REPORT AGAINST DIRECTOR : NOT AVAILABLE FROM OUR DATABASE
PROPERTY OWNERSHIP : 1
ANNUAL VALUE : S$38,100
CO-OWNER (S) : NA
DIRECTOR'S NAME : TULSIYAN VIJAY
ADVERSE REPORT AGAINST DIRECTOR : NOT AVAILABLE FROM OUR DATABASE
PROPERTY OWNERSHIP : NIL
ANNUAL VALUE : N.A.
CO-OWNER (S) : N.A.
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.
Rating: A1
Investment Grade
IN
EXTERNAL ACCOUNTS HAVE REMAINED SUBSTANTIALLY IN SURPLUS,
CONTRIBUTED TO THE DYNAMISM OF THE ELECTRONICS AND PHARMACEUTICALS SECTORS AND
TO REPATRIATION OF PROFITS FROM
THE GOVERNMENT USES FOREIGN DIRECT INVESTMENT TO DEVELOP
PRIORITY SECTORS (ELECTRONICS, CHEMICALS, BIOTECHNOLOGY). THE AIM IS TO
ENCOURAGE THE GROWTH OF HIGH ADDED-VALUE ACTIVITIES AND TURN
CERTAIN SECTORS (MEDIA, LEGAL AND FINANCIAL SERVICES) ARE HOWEVER ONLY PARTIALLY OPEN TO FOREIGN INVESTMENT. THESE SECTORS ARE SLOWLY OPENING UP, BUT THE PROGRESS IS SLOW.
AFTER HIGH GROWTH IN 2006, BUOYED BY THE DYNAMISM OF BOTH EXPORTS AND HOUSEHOLD CONSUMPTION, A SLOWDOWN IS EXPECTED IN 2007.
ASSETS
MAJOR EXPORTER OF CAPITAL IN
HIGH QUALITY COMPETITIVENESS IN
EXCELLENT BUSINESS CLIMATE
POLITICAL STABILITY.
WEAKNESSES
SKILLED MANPOWER HAS BEEN LACKING IN THE SECTORS TARGETED FOR DEVELOPMENT.
AN AGEING POPULATION COULD, ULTIMATELY, AFFECT ECONOMIC PERFORMANCE.
GROWING INEQUALITY AND THE EMERGENCE OF LONG-TERM UNEMPLOYMENT AMONG THE LEAST SKILLED COULD GENERATE SOCIAL TENSIONS.
BEING THE WORLD’S MOST OPEN ECONOMY, IT HAS BEEN VULNERABLE TO WORLD ECONOMIC DOWNTURNS.
WHOLESALE AND RETAIL TRADE SECTOR
PAST
PERFORMANCE
DOMESTIC WHOLESALE TRADE INDEX
THE OVERALL
DOMESTIC WHOLESALE TRADE DECLINED BY 7.5% IN Q1 2007. EXCLUDING PETROLEUM,
DOMESTIC SALES FELL BY 7.4%. SECTORS OF ELECTRONIC COMPONENTS, SHIP
HOWEVER,
WHOLESALERS OF FOOD, BEVERAGES AND TOBACCO REGISTERED HIGHER TURNOVER OF 5.4%.
FOREIGN WHOLESALE TRADE INDEX
THE OVERALL
FOREIGN WHOLESALE TRADE IN QUARTER 1 2007 FELL BY 7.6%. EXCLUDING PETROLEUM,
FOREIGN SALES DECLINED BY 8.0%. MOST WHOLESALE SECTORS REPORTED LOWER OVERSEAS
RECEIPTS IN QUARTER 1 2007 COMPARED TO THE PREVIOUS QUARTER, EXCEPT HOUSEHOLD
EQUIPMENT AND FURNITURE SECTOR. SHIP CHANDLERS & BUNKERING REPORTED THE
LARGEST DECLINE OF 18.3% IN QUARTER 1 2007, FOLLOWED BY FOOD BEVERAGES &
TOBACCO SECTOR OF 17.7%.
RETAIL TRADE
THE OVERALL
RETAIL SALES ROSE MARGINALLY BY 0.7% IN QUARTER 2 2007, COMPARED TO QUARTER 2
2006. EXCLUDING MOTOR VEHICLES, RETAIL SALES ROSE BY 5.1%. SALES OF OPTICAL
GOODS & BOOKS, FURNITURE & HOUSEHOLD EQUIPMENT AND SUPERMARKETS ENJOYED
STRONG GROWTHS OVER A YEAR AGO. PROVISION & SUNDRY SHOPS, WATCHES AND
JEWELLERY, DEPARTMENT STORES AND WEARING APPAREL & FOOTWEAR SECTORS ALSO
REPORTED HIGHER SALES OF 4.35 TO 5.9% RESPECTIVELY.
HOWEVER,
RETAILERS OF MOTOR VEHICLES, FOOD & BEVERAGES, TELECOMMUNICATIONS APPARATUS
& COMPUTERS AND PETROL SERVICES STATIONS REPORTED LOWER SALES.
OUTLOOK
GENERALLY,
WHOLESALERS EXPECT TO DO WELL FOR THE NEXT 6 MONTHS, WITH A POSITIVE NET
WEIGHTED BALANCE OF 17%. DEALERS OF FOOD & BEVERAGES, TROPICAL PRODUCE,
TEXTILES & LEATHER GOODS AND HOUSEHOLD ELECTRICAL APPLIANCE & EQUIPMENT
ARE AMONG THOSE WHO ARE OPTIMISTIC.
RETAIL TRADE
FIRMS ANTICIPATE BUSINESS TO BE LESS BRISK FOR THE NEXT 6 MONTHS. IN PARTICULAR,
DEPARTMENT STORES, SUPERMARKETS AND RETAILERS OF MOTOR VEHICLES EXPECT SLOWER
BUSINESS IN THE COMING MONTHS.
EXTRACTED
FROM: MINISTRY OF TRADE AND
SINGAPORE DEPARTMENT OF STATISTICS
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. |
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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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%)