MIRA
INFORM REPORT
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Report Date : |
14.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
INNOVESCO PTE LTD |
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Registered Office : |
7500A
Beach Road 07-304 The Plaza |
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Country : |
Singapore |
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Date of Incorporation : |
11.08.2001 |
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Com. Reg. No.: |
200105364G |
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Legal Form : |
Exempt Pte Ltd
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Line of Business : |
Importers, Exporters and Dealers of Ferrous and Non-Ferrous Metals & Industrial Raw Materials Machinery Parts, Tools, Apparatus, Chemical, Rubber,
Plastics &Medical Goods |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUBJECT
COMPANY
INNOVESCO PTE LTD
LINE OF BUSINESS
1.IMPORTERS & EXPORTERS & DEALERS OF FERROUS & NON-FERROUS
METALS & INDUSTRIAL RAW MATERIALS
2.MACHINERY PARTS,TOOLS,APPARATUS,CHEMICAL,RUBBER,PLASTICS &
MEDICAL GOODS
PARENT COMPANY
N.A.
FINANCIAL ELEMENTS
|
SALES |
N.A. |
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NETWORTH |
N.A. |
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PAID-UP
CAPITAL |
S$500,000 |
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NET RESULT |
N.A. |
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|
|
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NET
MARGIN(%) |
N.A. |
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RETURN ON EQUITY(%) |
N.A. |
|
LEVERAGE
RATIO |
N.A. |
COMPANY IDENTIFICATION
|
Subject
Company |
INNOVESCO
PTE LTD |
|
Business
Address |
7500A
BEACH ROAD |
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|
07-304 |
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THE PLAZA |
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Town |
SINGAPORE |
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Postcode |
199591 |
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Country |
Singapore |
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Telephone |
6296
5300 |
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Fax |
6297 7030 |
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ROC Number |
200105364G |
SUMMARY
|
Legal
Form |
Exempt
Pte Ltd |
|
Date Inc. |
11/08/2001 |
|
Previous
Legal Form |
-- |
|
Summary
year |
-- |
|
All
amounts in this report are in |
SGD |
|
Sales |
-- |
|
Capital |
500,000 |
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Paid-Up
Capital |
500,000 |
|
Employees |
4 |
|
Net
result |
-- |
|
Share
value |
1 |
|
AUDITOR |
ROMAN
& CO |
REFERENCES
|
Protested
Bills |
No |
|
Litigation |
No |
|
Company
status |
TRADING |
|
Started |
11/08/2001 |
PRINCIPAL(S)
ARUN
JAIN
S2665476I Director
DIRECTOR(S)
ARUN
JAIN S2665476I Director
Appointed
on : 11/08/2001
Street
: 12 AMBER GARDENS
09-08
Town: SINGAPORE
Postcode: 439959
Country: Singapore
KANAK
JAIN S2665477G Director
Appointed
on : 11/08/2001
Street
: 12 AMBER GARDENS
#09-08
Town: SINGAPORE
Postcode: 439959
Country: Singapore
KANAK
JAIN S2665477G Company Secretary
Appointed
on : 25/05/2004
Street
: 12 AMBER GARDENS
#09-08
Town: SINGAPORE
Postcode: 439959
Country: Singapore
FORMER DIRECTOR(S)
JASVERI
KAUR
S1151624F
ACTIVITY(IES)
IMPORTERS And
EXPORTERS
Code:11760
MACHINERY
Code:13260
CHEMICALS
Code:3970
PLASTIC
PRODUCTS Code:16940
1.IMPORTERS
& EXPORTERS & DEALERS OF FERROUS & NON-FERROUS
METALS & INDUSTRIAL RAW MATERIALS
2.
MACHINERY PARTS,TOOLS,APPARATUS,CHEMICAL,RUBBER,PLASTICS &
MEDICAL
CHARGES
No Charges On Premises/Property In Our Database
PREMISES/PROPERTY INFORMATIONS
No Premises/Property Information In Our Databases
SHAREHOLDERS(S)
ARUN JAIN
1 Private Person
Street
: 12 AMBER GARDENS
09-08
Town: SINGAPORE
Postcode: 439959
Country: Singapore
KANAK JAIN 499,999 Private Person
Street
: 12 AMBER GARDENS
#09-08
Town: SINGAPORE
Postcode: 439959
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
Singapore’s Country Rating 2005
Investment Grade
The steady political and economic environment
has positive effects on an already good payment record of companies. Very weak default
probability.
AFTER ENDURING AN ECONOMIC SLOWDOWN IN THE FIRST HALF OF 2003, PARTLY
ATTRIBUTABLE TO THE SARS NEGATIVE IMPACT, SINGAPORE HAS BEEN BENEFITING FROM
MORE SUSTAINED GROWTH LATE 2003. THE ECONOMIC RECOVERY HAS BEEN DEPENDING ON
GROWING INTERNATIONAL DEMAND FOR PHARMACEUTICAL AND PETROCHEMICAL PRODUCTS AND
AN UPTURN IN THE ELECTRONICS SECTOR, WHICH REPRESENTS TWO-THIRDS OF EXPORTS. IN
THAT FRAMEWORK, THE COFACE PAYMENT EXPERIENCE ON MOST COMPANIES HAS REMAINED
SATISFACTORY WITH THE ONLY INCIDENTS REGISTERED REMAINING CONCENTRATED IN SMALL
TRADING COMPANIES.
THE ACCUMULATION OF FISCAL SURPLUSES HAS AFFORDED THE COUNTRY CONSIDERABLE
LEVERAGE IN SPURRING DOMESTIC DEMAND VIA STIMULATORY POLICY. EXTERNAL ACCOUNTS
HAVE CONTINUED TO POST LARGE SURPLUSES WITH FOREIGN DEBT REMAINING VERY LOW AND
FOREIGN CURRENCY RESERVES AMPLE. THE BANKING SYSTEM HAS REMAINED THE SOUNDEST
IN THE REGION, ESPECIALLY WITH BANKS CONTINUING TO REDUCE THEIR NON PERFORMING
LOANS.
WITH ITS EXTREME SECTORAL SPECIALISATION, SINGAPORE HAS BEEN
DIVERSIFYING ITS ECONOMY FOCUSING ON BIOTECHNOLOGIES AND HIGH VALUE-ADDED
SERVICES. MOREOVER, IT HAS BEEN REDUCING TAX LEVIES TO OFFSET A LOSS OF
COMPETITIVENESS IN RELATION TO OTHER COUNTRIES IN THE REGION AS WELL AS TO
CHINA AND INDIA. HOWEVER, IT RE-EXPORTER ROLE HAS BEEN DIMINISHING AND ITS
REGIONAL FINANCIAL-CENTRE FROM HAS BEEN SUFFERING FROM THE REGION'S PERSISTENT
POLITICAL TENSIONS. IN THE FACE OF THOSE DEVELOPMENTS, SINGAPORE HAS BEEN
ADAPTING ITS POSITIONING AND CONCLUDING NUMEROUS TRADE AGREEMENTS WITH MAJOR
INDUSTRIALISED COUNTRIES.
Assets
SINGAPORE CONSTITUTES A MAJOR REGIONAL PLATFORM THANKS TO THE QUALITY OF
ITS INFRASTRUCTURE AND FINANCIAL SYSTEM.
LABOUR IS WELL TRAINED AND HIGHLY SKILLED.
THE ECONOMIC SUCCESS HAS BEEN FOUNDED ON A POLICY OF INVITING FOREIGN
CAPITAL AND PROMOTING EXPORTS.
THE CITY-STATE BENEFITS FROM A COMFORTABLE FINANCIAL SITUATION THANKS TO
THE ACCUMULATION OF FISCAL AND CURRENT ACCOUNT SURPLUSES AND TO AMPLE FOREIGN
EXCHANGE RESERVES.
IT ENJOYS REMARKABLE POLITICAL STABILITY.
Weaknesses
THE ECONOMY'S EXTREME SENSITIVITY TO FLUCTUATIONS IN WORLD ECONOMIC
CONDITIONS HAS INCREASED DUE TO ITS SPECIALISATION IN ELECTRONICS.
THE RIGIDITY OF THE EDUCATION SYSTEM AND GOVERNMENT FRAMEWORK HAS TENDED
TO STIFLE ENTREPRENEURIAL AND INNOVATIVE SPIRIT.
TO REMAIN COMPETITIVE, THE COUNTRY WILL HAVE TO ADJUST TO A RAPIDLY
CHANGING REGIONAL ENVIRONMENT.
Additional Information
REGIONAL IMPACT
OF TSUNAMI DISASTER TO BE LIMITED TO TOURISM SECTOR: PM BY THOMAS CHO, CHANNEL NEWSASIA,
30/12/2004
SUNDAY'S EARTHQUAKE AND TSUNAMIS THAT KILLED
OVER TENS OF THOUSANDS AND LEFT MILLIONS HOMELESS IN ASIA HAVE LIMITED IMPACT
ON THE REGION'S ECONOMY.
PRIME MINISTER LEE HSIEN LOONG WAS GIVING AN ASSESSMENT OF THE ECONOMIC FALLOUT
AT A NEWS CONFERENCE ON THURSDAY.
HE SAID IT IS THE TOURISM SECTOR THAT WILL TAKE THE MAJOR HIT.
PM LEE SAID, IT'S AN ENORMOUS TRAGEDY BUT THERE'S AN ECONOMIC IMPACT THAT (IS)
LIKELY TO (BE) LIMIT(ED) TO THE TOURISM SECTOR. THAT MAYBE FOR A CERTAIN
PERIOD.
"SO FROM THE POINT OF OVERALL ECONOMY FOR THE REGION, WE DON'T EXPECT A
VERY BIG DIFFERENCE IN THE GROWTH RATE. IF WE LOOK AT THE EXCHANGE RATES AND
STOCK MARKETS OVER THE LAST FEW DAYS, THERE HAS NOT BEEN A VERY BIG MOVE IN
THEM AS A RESULT OF THE EARTHQUAKE ON SUNDAY."
WHOLESALE AND
RETAIL TRADE SECTOR
PAST PERFORMANCE
THE WHOLESALE AND RETAIL
TRADE SECTOR GREW BY 19% IN 2Q2004, FOLLOWING A 14% RISE IN THE PREVIOUS QUARTER.
ENTREPOT TRADE REMAINED STRONG. DOMESTIC TRADE ALSO PICKED UP FURTHER IN THE
QUARTER.
WHOLESALE TRADE
DOMESTIC WHOLESALE TRADE INDEX
THE OVERALL DOMESTIC
WHOLESALE TRADE INDEX CONTINUED ITS RISE FOR THE SECOND CONSECUTIVE QUARTER,
WITH A 19.4% GAIN IN 2Q2004 OVER THE SAME QUARTER IN 2003. EXCLUDING PETROLEUM,
THE INDEX ROSE BY 11.4%.
THE RISE IN THE OVERALL
INDEX WAS MAINLY DUE TO THE IMPROVED TURNOVER OF WHOLESALERS OF ELECTRONIC
COMPONENTS (55.0%) AND PETROLEUM & PETROLEUM PRODUCTS (38.4%) IN DOMESTIC
SALES.
FOREIGN WHOLESALE TRADE INDEX
THE OVERALL FOREIGN
WHOLESALE TRADE INDEX GREW BY 26.7% IN 2Q2004, ITS 7TH INCREASE SINCE 4Q2002,
WHEN COMPARED WITH THE CORRESPONDING QUARTER IN 2003. EXCLUDING PETROLUEM, THE
INDEX ROSE BY 22.4%.
AMONG THE MAJOR FOREIGN
WHOLESALE ACTIVITIES, IMPROVED OVERSEAS SALES WERE REGISTERED FOR AT LEAST 4
SUCCESSIVE QUARTERS. FOR THIS QUARTER, WHOLESALERS OF ELECTRONIC COMPONENTS
REGISTERED THE LARGEST RISE OF 48.1%, FOLLOWED BY HOUSEHOLD EQUIPMENT &
FURNITURE (34.0%) AND PETROLEUM & PETROLEUM PRODUCTS (33.8%). GENERAL
WHOLESALERS ALSO REGISTERED HIGHER TURNOVER OF 15.1%.
RETAIL TRADE
RETAIL SALES INCREASED BY
14% IN REAL TERMS, COMPARED TO 24% IN THE EARLIER QUARTER. THE SLOWER GROWTH
LARGELY REFLECTED A SLOWER RATE OF GROWTH OF THE MOTOR VEHICLES SEGMENT FROM
46% TO 18%. EXCLUDING MOTOR VEHICLES, RETAIL SALES CONTINUED ITS UPWARD TREND
OF 9.3%, AN IMPROVEMENT OVER THE 3.7% GROWTH IN THE 1ST QUARTER.
BESIDES THE MOTOR VEHICLES
SEGMENT, THE RETAIL SEGMENTS WHICH RECORDED BETTER SALES WERE WEARING APPAREL
AND FOOTWEAR (34.0%), RECREATIONAL GOODS (18.0%), DEPARTMENT STORES (12.0%),
FURNITURE AND HOUSEHOLD EQUIPMENT (12.0%), FOOD AND BEVERAGES (9.3%), WATCHES
AND JEWELLERY (8.2%), MEDICAL GOODS AND TOILETRIES (7.5%), OPTICAL GOODS AND
BOOKS (4.1%), PROVISION AND SUNDRY SHOPS (3.2%) AND PETROL SERVICE STATIONS
(1.3%).
AHEAD
THE OVERALL SERVICES SECTOR
FORECASTS A FAVOURABLE BUSINESS OUTLOOK FOR THE 6 MONTHS ENDING DECEMBER 2004, WITH
A NET BALANCE OF 31% OF FIRMS EXPECTING BETTER BUSINESS CONDITIONS.
OVERALL, A NET BALANCE OF
58% OF FIRMS IN THE HOTEL AND CATERING INDUSTRIES FORECASTS BETTER BUSINESS
AHEAD. HOTELIERS PREDICT HIGHER TURNOVER IN ANTICIPATION OF A RISE IN VISITOR ARRIVALS
AND OCCUPANCY RATE IN THE NEXT 6 MONTHS. IN CATERING TRADE, FAST FOOD OUTLETS
AND RESTAURANTS FORESEE POSITIVE SENTIMENTS IN THE COMING MONTHS.
RETAILERS EXPECT BRISK
SALES FOR THE PERIOD ENDING DECEMBER 2004. IN PARTICULAR, DEPARTMENT STORES AND
RETAILERS OF WEARING APPAREL & FOOTWEAR AND FURNITURE & FURNISHINGS
EXPECT BETTER BUSINESS FROM YEAR-END FESTIVE SPENDING. WHOLESALERS REMAIN POSITIVE ABOUT THE
BUSINESS SENTIMENTS IN THE COMING MONTHS.
THOSE DEALING IN COMPUTER HARDWARE & PERIPHERAL EQUIPMENT,
ELECTRONIC COMPONENTS AND COMPUTER SOFTWARE ARE AMONG THOSE WHO FORESEE AN
IMPROVEMENT IN BUSINESS CONDITIONS.
SOURCE : MINISTRY OF TRADE
AND INDUSTRY, SINGAPORE
SINGAPORE DEPARTMENT OF STATISTICS
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.
BACKGROUND/OPERATION
SUBJECT IS REGISTERED IN THE REPUBLIC OF SINGAPORE AS A LIMITED EXEMPT PRIVATE COMPANY ON 11/08/2001 AND IS TRADING UNDER ITS PRESENT NAMESTYLE AS "INNOVESCO PTE LTD".
SUBJECT HAS AN AUTHORISED CAPITAL OF 500,000 SHARES AT PAR VALUE S$ 1 EACH, OUT OF WHICH, ALL SHARES HAVE BEEN ISSUED AND FULLY PAID-UP.
PRINCIPAL ACTIVITIES
SUBJECT IS REGISTERED WITH THE REGISTRY OF COMPANIES AND BUSINESSES TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1.IMPORTERS & EXPORTERS & DEALERS OF FERROUS & NON-FERROUS
METALS & INDUSTRIAL RAW MATERIALS
2.MACHINERY PARTS,TOOLS,APPARATUS,CHEMICAL,RUBBER,PLASTICS & MEDICAL GOODS
PRODUCTS & SERVICES
* SILICON SEALANT
* MARBLE CUTTING TOOLS AND BLADES
* DRILL MACHINES (10MM/13MM)
* GRINDERS
IMPORT COUNTRIES: CHINA, KOREA, MALAYSIA
EXPORT COUNTRIES: INDIA
NO. OF EMPLOYEES
* GROUP - 2003: - (2002: -)
* COMPANY - 2003: 4 (2002: -)
REGISTERED & BUSINESS ADDRESS
7500A BEACH ROAD #07-304
THE PLAZA
SINGAPORE 199591
-- RENTED PREMISE
-- PREMISE OWNED BY LEUNG CHING YIN & KAM KUM HAY
-- DATE OF CHANGE OF ADDRESS: -
EMAIL : admin@innovesco.com
WEBSITE: NOT AVAILABLE
MANAGEMENT
THE DIRECTORS IN OFFICE AT THE TIME OF THE REPORT ARE:
1) ARUN JAIN, SINGAPORE PERMANENT RESIDENT
OTHER DIRECTORSHIP(S) IN OUR DATABASE:
INTEXCON PTE LTD
2) KANAK JAIN, SINGAPORE PERMANENT RESIDENT
HOLDS NO OTHER DIRECTORSHIPS IN OUR DATABASE
ADVERSE ON DIRECTORS
DIRECTOR'S NAME: ARUN JAIN
ADVERSE REPORT AGAINST DIRECTOR: NIL
PROPERTY OWNERSHIP: NIL
DIRECTOR'S NAME: KANAK JAIN
ADVERSE REPORT AGAINST DIRECTOR: NIL
PROPERTY OWNERSHIP: NIL
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.67 |
|
UK Pound |
1 |
Rs.80.92 |
|
Euro |
1 |
Rs.63.71 |
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. |
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%)