MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARAGON PTE LTD |
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Registered Office : |
14 Ann Siang Road #02-01 |
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Country : |
Singapore |
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Date of Incorporation : |
20/10/2006 |
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Com. Reg. No.: |
200615749K |
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Legal Form : |
Pte Ltd |
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Line of Business : |
Business Management and Consultancy Services |
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 : |
New and Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Subject Company
PARAGON PTE. LTD.
Line Of Business
BUSINESS MANAGEMENT AND CONSULTANCY SERVICES
Parent Company
IMMOBILLIARE CAPITAL AS
(PERCENTAGE OF SHAREHOLDINGS: 100.00%)
Financial Elements
Sales :
-
Networth :
-
Paid-Up
Capital : US$ 330,000
Net result : -
Net Margin(%) : -
Return on Equity(%) : -
Leverage Ratio :
-
COMPANY IDENTIFICATION
Subject Company : PARAGON PTE. LTD.
Former Name : -
Business Address : 14 ANN SIANG ROAD #02-01
Town : SINGAPORE
Postcode : 069694
Country : Singapore
Telephone : -
Fax : -
ROC Number : 200615749K
Reg. Town : -
SUMMARY
All amounts in this report are in : USD
Legal Form : Pte Ltd
Date Inc. : 20/10/2006
Previous Legal
Form : -
Summary year :
-
Sales :
-
Networth : -
Capital :
-
Paid-Up Capital :
330,000
Employees : -
Net result : -
Share value : 1
Auditor :
ROHAN MAH & PARTNERS
BASED ON ACRA'S
RECORD
NO
OF SHARE CURRENCY
AMOUNT
ISSUED ORDINARY 330,000 USD 330,000.00
PAID-UP
ORDINARY -
USD 330,000.00
REFERENCES
Litigation: No
Company status
: TRADING
Started : 20/10/2006
PRINCIPAL(S)
JACOBSEN PER
ROBERT EDEGE-NISSEN
G5927447W Director
DIRECTOR(S)
JACOBSEN PER
ROBERT EDEGE-NISSEN G5927447W Director
Appointed on : 17/01/2007
Street : 8
DRAYCOTT PARK
#12-05
DRAYCOTT
EIGHT
Town: SINGAPORE
Postcode: 259404
Country: Singapore
ONG SIU LYN (WANG
XIULING) S8036293E Company Secretary
Appointed on : 17/01/2007
Street : 80
KIM SENG ROAD
#26-07
Town: SINGAPORE
Postcode: 239426
Country: Singapore
ACTIVITY(IES)
BUSINESS
MANAGEMENT
Code:3160
BUSINESS
CONSULTANTS Code:3140
BASED ON ACRA'S
RECORD
1) BUSINESS
MANAGEMENT AND CONSULTANCY SERVICES
CHARGES
No Charges On
Premises/Property In Our Database
PREMISES/PROPERTY INFORMATIONS
No
Premises/Property Information In Our Databases
SHAREHOLDERS(S)
IMMOBILLIARE
CAPITAL AS
330,000 Company
Street : KONGLETOPPEN
52
Town: JESSHEIM
Postcode: 2050
Country: Norway
HOLDING COMPANY
IMMOBILLIARE
CAPITAL AS UF45784C % :
100
SUBSIDIARY(IES)
No Participation
In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality :
UNKNOWN
Liquidity : UNKNOWN
Payments : UNKNOWN
Trend :
UNKNOWN
Financial
Situation : UNKNOWN
FINANCIAL COMMENTS
NEWLY-SET
UP COMPANY
SUBJECT BEING
NEWLY INCORPORATED AND HAS YET TO FILE IN ITS FIRST SET OF ACCOUNTS. A NEWLY
INCORPORATED COMPANY HAS UP TO 18 MONTHS FROM THE DATE OF INCORPORATION TO FILE
IN ITS FIRST SET OF ACCOUNTS.
BACKGROUND/OPERATION
THE COMPANY WAS
INCORPORATED IN THE REPUBLIC OF SINGAPORE ON 20/10/2006
AS A LIMITED PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT
NAMESTYLE AS "PARAGON PTE. LTD.".
THE COMPANY HAS AN
ISSUED AND PAID-UP CAPITAL OF 330,000 SHARES, OF A VALUE OF US$330,000.
PRINCIPAL
ACTIVITIES:
SUBJECT IS
REGISTERED WITH THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY
(ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
(1) BUSINESS
MANAGEMENT AND CONSULTANCY SERVICES
NO INFORMATION CAN
BE GATHERED FROM THE RESEARCH DONE.
THE COMPANY IS NOT
LISTED IN THE SINGAPORE LOCAL DIRECTORY. AS SUCH, NO OTHER
TRADE INFORMATION WAS AVAILABLE .
REGISTERED AND
BUSINESS ADDRESS:
14 ANN SIANG ROAD
#02-01
SINGAPORE
DATE OF CHANGE OF ADDRESS:
20/10/2006
- RENTED PREMISE
- PREMISE OWNED
BY: MATHIJS HENRI MARIE PHILIP AARTS
ADDRESS PROVIDED
BY CLIENT:
4 KIM CHUAN DRIVE
SINGAPORE 537081
- CANNOT BE
CONFIRMED
WEBSITE:
-
EMAIL:
-
MANAGEMENT
THE DIRECTORS AT
THE TIME OF THIS REPORT ARE:
1) JACOBSEN ROBERT
EDEGE-NISSEN, A NORWEGIAN
- BASED IN
SINGAPORE
ADVERSE ON DIRECTORS
NOTE: ADVERSE
CHECK CANNOT BE CONDUCTED AS ALL ITS DIRECTORS ARE FOREIGNERS.
SINGAPORE'S COUNTRY RATING 2007
Investment Grade
IN SINGAPORE, THE POLITICAL
SITUATION REMAINS STABLE.
SINGAPORE BOASTS THE
BEST GOVERNANCE IN ASIA, WITH AN EFFECTIVE LEGAL SYSTEM FACILITATING DEBT
COLLECTION AND TO A HIGH DEGREE OF FINANCIAL TRANSPARENCY.
EXTERNAL ACCOUNTS HAVE REMAINED
SUBSTANTIALLY IN SURPLUS, CONTRIBUTED TO THE DYNAMISM OF THE ELECTRONICS AND
PHARMACEUTICALS SECTORS AND TO REPATRIATION OF PROFITS FROM SINGAPORE
INVESTMENTS. THE FINANCIAL AND TOURISM SECTORS HAVE ALSO CONTRIBUTED TO THE
LARGE CURRENT ACCOUNT SURPLUS.
SINGAPORE CONTINUES TO KEENLY WELCOME FOREIGN INVESTMENT AND
OFFERS A VERY OPEN AND WELL-PLANNED ECONOMIC AND POLITICAL ENVIRONMENT. IT HAS
BEEN IMPLEMENTING AMBITIOUS DIVERSIFICATION STRATEGY, FOCUSED PARTICULARLY ON
THE CHEMICALS AND PHARMACEUTICAL SECTORS.
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 SINGAPORE INTO A
REGIONAL HUB FOR FOREIGN INVESTORS INTERESTED IN ASIA.
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 ASIA, NOTABLY VIA THE STATE-OWNED
TEMASEK HOLDING COMPANY.
- HIGH QUALITY COMPETITIVENESS IN ASIA
- 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.
OVERVIEW OF SINGAPORE
PAST PERFORMANCE
SINGAPORE’S ECONOMY GREW BY 8.9% IN 3Q 2007, FOLLOWING 8.7% GROWTH IN 2Q
2007. GROW MOMENTUM (ON AN ANNUALISED QUARTER-ON-QUARTER BASIS) WAS 4.3%,
COMPARED WITH 14.5% IN THE SECOND QUARTER.
THE FINANCIAL SERVICES SECTOR ROSE SIGNIFICANTLY BY 20% IN 3Q 2007,
FOLLOWING A 17% GROWTH IN THE PREVIOUS QUARTER. HOWEVER, ON A
SEASONALLY-ADJUSTED QUARTER-ON-QUARTER BASIS, THE SECTOR FELL BY 8.6%, IN
CONTRAST TO THE 39% GROWTH IN THE SECOND QUARTER. THE DECLINE STEMS FROM THE
IMPACT FROM THE TURMOIL IN GLOBAL FINANCIAL MARKETS.
THE CONSTRUCTION SECTOR REGISTERED A STRONG GROWTH. THE SECTOR GREW BY
18%, FOLLOWING 19% GAIN IN 2Q 2007. GROWTH MOMENTUM MODERATED FROM 15% IN 2Q
2007 TO 6% IN 3Q 2007.
MANUFACTURING SECTOR ROSE BY 10% IN 3Q 2007, UP FROM 8.3% IN 2Q 2007.
THE HIGHEST GROWTH WAS REGISTERED IN THE BIOMEDICAL MANUFACTURING CLUSTER,
FOLLOWED BY TRANSPORT ENGINEERING, ELECTRONICS AND CHEMICALS CLUSTERS.
PRECISION ENGINEERING SECTOR CONTINUED TO SEE LOWER PRODUCTION.
THE WHOLESALE AND RETAIL TRADE SECTOR GREW BY 6.6% IN 3Q 2007, SLOWER
THAN THE 8.4% GROWTH IN 2Q 2007. ALTHOUGH NON-OIL RE-EXPORTS STRENGTHENED IN
THE QUARTER, RETAIL SALES SAW WEAKER GROWTH.
THE TRANSPORT AND STORAGE SECTOR MOEDERATED TO 4.8% IN 3Q 2007, FROM
5.3% IN 2Q 2007. HIGHER GROWTH IN THE AIR TRANSPORT SEGMENT WAS OFFSET BY
SLOWER GROWTH IN THE WATER TRANSPORT SEGEMENT AFTER LAST QUARTER’S STRONG
GROWTH.
THE HOTELS AND RESTAURANTS SECTOR GREW BY 4.5% FROM 5.3% IN 2Q 2007.
THE AVERAGE OCCUPANCY RATE OF HOTELS CLIMBED TO 89%, A 2.1% RISE OVER 3Q
2006. THE AVERAGE ROOM RATE ALSO GREW BY 22% TO S$204. CONSEQUENTLY, TOTAL
HOTEL ROOM REVENUE OF GAZETTED HOTELS ROSE BY 20% IN 3Q 2007 TO AN ESTIMATED
S$478 MILLION.
THE INFORMATION AND COMMUNICATIONS SECTOR ROSE 6.9% IN 3Q 2007, HIGHER
THAN THE 6.5% IN 2Q 2007. THE TELECOMMUNICATIONS SEGMENT CONTINUED TO ACCOUNT
FOR MUCH OF THE GROWTH IN THE SECTOR. IT SERVICES MAINTAINED ITS MODERATE
GROWTH LEVEL FROM 2Q 2007.
IN THE TELECOMMUNICATIONS SEGMENT, THE GROWTH OF MOBILE SUBSCRIBERS
CONTINUED TO RISE, RISING BY 20%, UP FROM 18% IN 2Q 2007. INTERNATIONAL
TELEPHONE CALL DURATION GREW TO 27%, UP FROM 24% IN 2Q 2007.
THE BUSINESS SERVICES SECTOR EXPANDED BY 7.1%, SIMILAR TO THE 7.2% GAIN
IN 2Q 2007. GROWTH WAS HEALTHY ACROSS ALL SEGMENTS, WITH GOOD PERFORMANCES IN
THE BUSINESS REPRESENTATIVE OFFICES, REAL ESTATE AND PROFESSIONAL SERVICES
SEGMENTS.
NEWS
SINGAPORE GROWTH SLOWS TO 6% IN 4Q 2007
THE SINGAPORE ECONOMY GREW AT A SLOWER-THAN-EXPECTED 6% GROWTH IN 4Q
2007, WEIGHED DOWN BY DECLINING MANUFACTURING OUTPUT.
ECONOMISTS HAD ANTICIPATED GROWTH OF 7.0-8.5% FOR 4Q 2007.
THE ESTIMATE FOR REAL GROSS DOMESTIC PRODUCT (GDP) GROWTH, COMPARED WITH
4Q 2006, MEANT THE GROWTH HAD MODERATED FROM THE REVISED GROWTH FIGURE OF 9%
SEEN IN 3Q 2006, THE MINISTRY OF TRADE AND INDUSTRY SAID.
ON A QUARTER-ON-QUARTER SEASONALLY ADJUSTED ANNUALISED BASIS, REAL GDP
FELL BY 3.2% IN 4Q 2007 COMPARED WITH A 4.4% GAIN IN 3Q 2007, CAUSED BY A
SLOWDOWN IN MANFACTURING OUTPUT.
THE FIGURE MARKS THE FIRST QUARTER-ON-QUARTER DECLINE SINCE 1Q 2005,
ACCORDING TO DATA.
GROWTH IN THE MANUFACTURING SECTOR IS FORECASTED TO HAVE SLOWED FROM
10.3% IN 3Q 2007 TO 0.5% IN 4Q 2007. IT WAS LARGELY ATTRIBUTED TO A DECLINE IN
THE BIOMEDICAL MANUFACTURING CLUSTER AS SOME ACTIVE PHARMACEUTICAL INGREDIENTS
WERE NOT PRODUCED.
TRANSPORT ENGINEERING, WHICH INCLUDES OIL RIG MANUFACTURING AND SHIP REPAIR,
CONTINUED TO SHOW DOUBLE-DIGIT GROWTH, WHILE THE CONSTRUCTION SECTOR IS
PREDICTED TO HAVE GROW STRONGLY BY 24.4% IN 4Q 2007, UP FROM 19.2% IN 3Q 2007.
GROWTH IN THE SERVICE SECTOR WAS STEADY AT 8.3%.
SINGAPORE’S ECONOMY GREW BY 7.5% IN 2007, MARKING THE FOURTH STRAIGHT
YEARS OF STRONG GROWTH, PRIME MINISTER LEE HSIEN LOONG SAID IN HIS NEW YEAR
MESSAGE.
THE FIGURE FOR 2007 ECONOMIC EXPANSION WAS AT THE LOWER END OF THE
GOVERNMENT’S UPGRADED FULL-YEAR GROWTH TARGET OF 7.5-8.0%, AND WAS BELOW THE 7.9%
GROWTH REGISTERED FOR 2006.
MR LEE FORECAST GROWTH OF 4.5-6.5% FOR SINGAPORE IN 2008.
OUTLOOK
FOR 2008, EXTERNAL ECONOMIC CONDITIONS ARE EXPECTED TO WEAKEN SLIGHTLY
COMPARED TO 2007. THE LINGERING EFFECTS OF THE SUB-PRIME PROBLEMS AND AN
OVERALL WEAKENING OF THE HOUSING MARKET WILL DAMPEN US CONSUMPTION. EU GROWTH
IS ALSO EXPECTED TO BE LOWER AS A STRONG CURRENCY ERODES EXPORT
COMPETITIVENESS. HOWEVER, THE FORECAST FOR ASIAN ECONOMIES REMAIN POSITIVE,
WITH CHINA EXPECTED TO SUBSTAIN DOUBLE-DIGIT GROWTH.
WITH THESE FACTORS IN MIND, THE MINISTRY OF TRADE AND INDUSTRY PREDICTS
THS SINGAPORE ECONOMY TO GROW BY 4.5-6.5% IN 2008. THIS REPRESENTS A MODERATION
IN GROWTH TOWARDS THE ECONOMY’S POTENTIAL RATE OF GROWTH, AFTER FOUR YEARS OF
ABOVE-TREND GROWTH.
THERE ARE SOME DOWNSIDE RISKS. IF THE SUB-PRIME PROBLEMS WORSEN THAN
EXPECTED, OR OIL PRICES RISE FURTHER IN 2008, THIS COULD BRING A
GREATER-THAN-EXPECTED SLOWDOWN IN US, WHICH WOULD AFFECT THE SINGAPORE ECONOMY.
IN THE FINANCIAL SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 17% OF
FIRMS, ESPECIALLY INSURANCE COMPANIES, REMAINS POSITIVE ABOUT THE BUSINESS
OUTLOOK IN THE MONTHS AHEAD.
FIRMS IN THE REAL ESTATE INDUSTRY EXPECT BUSINESS TO BE BRISK FOR THE
COMING MONTHS, IN PARTICULAR THE REAL ESTATE DEVELOPERS.
MANUFACTURING FIRMS REMAIN OPTIMISTIC FOR THE PERIOD ENDING MARCH 2008.
A NET WEIGHTED BALANCE OF 25% OF MANUFACTURERS FORECAST BETTER BUSINESS,
SLIGHTLY HIGHER THAN THE 22% REGISTERED BOTH IN THE PREVIOUS QUARTER AND THE
SAME PERIOD IN THE PREVIOUS YEAR.
WHOLESALERS GENERALLY REMAIN
POSITIVE ABOUT THEIR BUSINESS CONDITIONS, WITH A NET WEIGHTED BALANCE OF 24% OF
FIRMS BEING OPTIMISTIC FOR THE COMING MONTHS. SEGMENTS THAT ARE EXPECTED TO
PERFORM BETTER INCLUDE WHOLESALING OF FOOD AND BEVERAGES, WEARING APPAREL AND
FOOTWEAR, COSMETICS AND TOILETRIES, AND HOUSEHOLD ELECTRICAL APPLIANCES.
RETAILERS ANTICIPATES BETTER BUSINESS IN THE COMING MONTHS DUE TO
YEAR-END FESTIVE SHOPPING, WITH A NET WEIGHTED BALANCE OF 31% BEING POSITIVE.
THE SEGMENTS THAT ARE FORECASTING BRISK BUSINESS IN THE COMING MONTHS INCLUDE
DEPARTMENT STORE AND SUPERMARKET OWNERS, WEARING APPAREL AND FOOTWEAR,
FURNITURE AND FURNISHINGS, AND JEWELLERY AND WATCHES.
IN THE TRANSPORT AND STORAGE INDUSTRY, A NET WEIGHTED BALANCE OF 18% OF FIRMS
FORECASTS FAVOURABLE BUSINESS CONDITIONS FOR THE COMING MONTHS.
HOTELIERS FORESEES A FAVOURABLE BUSINESS OUTLOOK, WITH A NET WEIGHTED
BALANCE OF 79% OF FIRMS EXPECTING THEIR BUSINESSES TO RISE IN ANTICIPATION OF
HIGHER BANQUET SALES AND INCREASE IN ROOM REVENUE IN VIEW OF THE POSITIVE
DEVELOPMENT IN THE TOURISM INDUSTRY. FIRMS IN THE CATERING TRADE INDUSTRY ALSO
FORESEES BETTER BUSINESS CONDITIONS.
FIRMS IN THE INFORMATION AND COMMUNICATIONS INDUSTRY PREDICTS A HIGHER
DEMAND FOR THEIR SERVICES, WITH A NET WEIGHTED BALANCE OF 5%.
IN THE BUSINESS SERVICES INDUSTRY, AN OVERALL NET WEIGHTED BALANCE OF
33% OF FIRMS EXPECTS POSITIVE SENTIMENTS. THESE INCLUDE ACCOUNTING,
BOOK-KEEPING AND AUDITING, ENGINEERING AND SPECIALISED DESIGN SERVICES AS WELL
AS TRAVEL AGENCIES.
EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE
SINGAPORE DEPARTMENT OF STATISTICS
CHANNEL NEWS ASIA
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%)