MIRA
INFORM REPORT
|
Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GOOD WOOD TRADING PTE LTD |
|
|
|
|
Registered Office : |
49 Bussorah Street 199465 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
29.05.1996 |
|
|
|
|
Com. Reg. No.: |
199603899D |
|
|
|
|
Legal Form : |
Exempt Pte Ltd |
|
|
|
|
Line of Business : |
Wholesale of Sawn Timber, Plywood and related
products. |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
Subject Company
GOOD WOOD TRADING PTE LTD
Line Of Business
WHOLESALE OF SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS.
Parent Company
N/A
Financial Elements
Sales :
N/A
Networth :
N/A
Paid-Up
Capital : S$500,000
Net result :
N/A
Net Margin(%) :
N/A
Return on
Equity(%) : N/A
Leverage
Ratio : N/A
COMPANY IDENTIFICATION
|
Subject Company : |
GOODWOOD TRADING PTE LTD |
|
Business Address: |
49 BUSSORAH STREET |
|
Town: |
SINGAPORE |
|
Postcode: |
199465 |
|
Country: |
Singapore |
|
Telephone: |
6398 1475/62937914 |
|
Fax: |
6398 1485/62915913 |
|
ROC Number: |
199603899D |
|
Easy Number company: |
00004534341073 |
SUMMARY
|
Legal Form: |
Exempt Pte Ltd |
|
Date Inc.: |
29/05/1996 |
|
Summary year : |
|
|
All amounts in this report are in : |
SGD |
|
Sales: |
- |
|
Capital: |
- |
|
Paid-Up Capital: |
500,000 |
|
Net result : |
- |
|
Share value: |
- |
AUDITOR: R. ASHRAFF ALI & CO BASED ON ACRA'S RECORD NO OF SHARE CURRENCY AMOUNT ISSUED ORDINARY 500,000 SGD 500,000.00PAID-UP ORDINARY - SGD 500,000.00
REFERENCES
|
Litigation: |
No |
|
Company status : |
TRADING |
|
Started : |
29/05/1996 |
PRINCIPAL(S)
|
LEEPACHI ABDUL WAHAB BARAKATHALI MAIDEEN |
S1311200B |
Director |
DIRECTOR(S)
|
LEEPACHI ABDUL WAHAB BARAKATHALI MAIDEEN |
S1311200B |
Director |
|
Appointed on : |
29/05/1996 |
|
|
Street : |
1 BEACH ROAD #14-4771 |
|
|
Town: |
SINGAPORE |
|
|
Postcode: |
190001 |
|
|
Country: |
Singapore |
|
|
MUBARAKNISA D/O V M ABDUL KUDUS |
S1764468H |
Director |
|
Appointed on : |
29/05/1996 |
|
|
Street : |
1 BEACH ROAD #14-4771 |
|
|
Town: |
SINGAPORE |
|
|
Postcode: |
190001 |
|
|
Country: |
Singapore |
|
ACTIVITY(IES)
|
Activity Code: |
21690 |
TIMBER - WHSLE |
|
Activity Code: |
11760 |
IMPORTERS And EXPORTERS |
BASED ON ACRA'S RECORD 1) WHOLESALE OF SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS 2) GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS & EXPORTERS)
CHARGES
|
|
AVAILABLE |
|
Date: |
26/09/2003 |
|
Amount: |
0 |
|
Comments : |
CHARGE NO: C200304614 AMOUNT SECURED: 0.00 AND ALL MONIES OWING CHARGEE(S): INDIAN OVERSEAS BANK |
BANKERS
|
INDIAN OVERSEAS BANK LTD |
SHAREHOLDERS(S)
|
LEEPACHI ABDUL WAHAB BARAKATHALI MAIDEEN |
300,000 |
Private Person |
|
Street : |
1 BEACH ROAD #14-4771 |
|
Town: |
SINGAPORE |
|
Postcode: |
190001 |
|
Country: |
Singapore |
|
MUBARAKNISA D/O V M ABDUL KUDUS |
200,000 |
Private Person |
|
Street : |
1 BEACH ROAD #14-4771 |
|
Town: |
SINGAPORE |
|
Postcode: |
190001 |
|
Country: |
Singapore |
PAYMENT HISTORY AND EXPERIENCES
|
Trade Morality: |
AVERAGE |
|
Liquidity : |
UNKNOWN |
|
Payments : |
REGULAR |
|
Trend : |
LEVEL |
|
Financial Situation: |
UNKNOWN |
FINANCIAL COMMENTS
NOTE: THE SUBJECT DID NOT FILE ITS FINANCIALS FOR THE YEAR 2006. PLEASE REFER TO THE LIMITED EXEMPT PRIVATE COMPANY CLAUSE BELOW FOR FURTHER INFORMATION. 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 29/05/1996 AS A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING UNDER ITS PRESENT NAMESTYLE OF "GOODWOOD TRADING PTE LTD". THE COMPANY HAS A ISSUED AND PAID-UP CAPITAL OF 500,000 SHARES OF A VALUE OF S$500,000. PRINCIPAL ACTIVITIES:SUBJECT IS REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF: 1) WHOLESALE OF SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS 2) GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS & EXPORTERS) THE COMPANY WAS LISTED IN THE SINGAPORE LOCAL DIRECTORIES UNDER THE CLASSIFICATION OF: TIMBER & TIMBERLAND COMPANIESFROM THE RESEARCH DONE, THE FOLLOWING INFORMATION WAS GATHERED: BACKGROUND: GOODWOOD KUDUSONS GROUP HAS DIVERSIFIED BUSINESS INTERESTS, CONSISTING OF TRADING, MANUFACTURING, MARKETING AND DISTRIBUTION ACTIVITIES ACROSS THE REGION. SUBJECT ENGAGES IN THE FOLLOWING ACTIVITIES: * LEADING MAJOR EXPORTER, IMPORTER OF TEAK AND OTHER TIMBER PRODUCTS.* IMPORTER/DISTRIBUTOR OF PHARMACEUTICALS PRODUCTS. * EXPORTER OF AGRICULTURAL PRODUCTS. PRODUCTS OR SERVICES: A) MAIN BUSINESS IS TIMBER / LOGS: * EXOTIC MYANMAR TEAK LOGS* TEAK SQUARE & POST * MAJOR MYANMAR HARDWOOD ROUND LOGS LIKE: - PYINKADO - GURJAN - KAUNG HMU - PYINMA - PADAUK - SAGAWA - THINGAN, ETC. * MALAYSIAN TROPICAL HARDWOOD LOGS LIKE: - BALAU - KERUING - MERANTI ETC. * SAWN TIMBERS, PLYWOODS AND OTHER TIMBER RELATED PRODUCTS LIKE: - GARDEN FURNITURES - FLOORINGS - ETC. B) OTHER MAIN BUSINESS IS PHARMACEUTICALS PRODUCTS: * MEDICAL CONSUMABLES INJECTION* SURGICAL GLOVES * THERMOMETERS * BLOOD BAGS * IV FLUIDS * ETC. THESE PRODUCTS WE HAVE STARTED DISTRIBUTION IN MYANMAR FOR SEVERAL YEARS. THE COMPANY IS ENGAGED IN MARKETING AND DISTRIBUTION OF PHARMACEUTICALS, AND CONSUMERS PRODUCTS (NON-DURABLES AND DURABLES) REPRESENTING LEADING GLOBAL MANUFACTURES. IT HAS CREATED A RELIABLE AND EFFICIENT DISTRIBUTION INFRASTRUCTURE IN THESE PRODUCTS. C) OTHER PRODUCTS, AGRI COMMODITIES: * PULSES & BEANS * LENTILS * RICE * CASHEW* MAIZE * ANIMAL FEEDS/PROTEIN * OIL CAKES * ETC. WE WITH A LONG-TERM VISION HAVE ACHIEVED CREDITABLE GROWTH. WE GREATLY LONG TERM RELATIONSHIPS WITH PRINCIPALS, BUSINESS PARTNERS, AND CUSTOMERS BUILT ON FOUNDATIONS OF MUTUAL TRUST AND RELIANCE, WHICH CONTINUE TO FUEL FUTURE GROWTH FOR THE COMPANY. MARKET PRESENCE: * MYANMAR * MIDDLE EAST * MALAYSIA* SRI LANKA * PAKISTAN * INDIA * BANGLADESH * VIETNAM AN ATTEMPT HAS BEEN MADE TO CONTACT THE SUBJECT FOR TELE-INTERVIEW AND THE PERSON WHO ANSWERED THE PHONE GIVE ANOTHER PHONE NUMBER (6327 2429). FROM THE TELE-INTERVIEW CONDUCTED, NO TRADE INFORMATION WAS AVAILABLE AS SUBJECT'S PERSONNEL DECLINED TO PROVIDE. REGISTERED AND BUSINESS ADDRESS:49 BUSSORAH STREET SINGAPORE 199465 DATE OF CHANGE OF ADDRESS: 05/05/2001 - RENTED PREMISE - PREMISE OWNED BY: KAI HONG INVESTMENTS PTE LTD WEBSITE: http://www.goodwoodtrading.com http://www.goodwoodkudusonsgroup.comEMAIL : gdwood@singnet.com.sg
MANAGEMENT
THE DIRECTORS AT THE TIME OF THIS REPORT ARE: 1) LEEPACHI ABDUL WAHAB BARAKATHALI MAIDEEN, A SINGAPOREAN - HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE. 2) MUBARAKNISA D/O V M ABDUL KUDUS, A SINGAPOREAN - HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.
ADVERSE ON DIRECTORS
DIRECTOR'S NAME: LEEPACHI ABDUL WAHAB BARAKATHALI MAIDEEN ADVERSE REPORT AGAINST DIRECTOR: NOT AVAILABLE FROM OUR DATABASE PROPERTY OWNERSHIP: OWNS 1 ANNUAL VALUE: S$5,700 CO-OWNER (S): N/A DIRECTOR'S NAME: MUBARAKNISA D/O V M ABDUL KUDUS ADVERSE REPORT AGAINST DIRECTOR: NOT AVAILABLE FROM OUR DATABASE PROPERTY OWNERSHIP: NIL ANNUAL VALUE: N.ACO-OWNER (S): N.A * ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT THE PROPERTY CAN FETCH IFIT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN THE SAME MANNERREGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED OR VACANT.
GENERAL COMMENTS
SINGAPORE'S COUNTRY RATING 2008 INVESTMENT GRADE IN SINGAPORE, THE POLITICAL AND ECONOMIC SITUATION IS VERY GOOD. A QUALITY BUSINESS ENVIRONMENT HAS A POSITIVE INFLUENCE ON CORPORATE PAYMENT BEHAVIOUR. CORPORATE DEFAULT PROBABILITY IS VERY LOW ON AVERAGE. ECONOMIC GROWTH REMAINED STRONG IN 2007 AND IN Q1 2008 (6.7%) THANKS TO A SHARPINCREASE IN CONSUMPTION SPURRED BY A BRIGHT EMPLOYMENT PICTURE, RISING REAL WAGES, AND A POSITIVE WEALTH EFFECT PRODUCED BY RISING PROPERTY PRICES. IN THIS CONTEXT, BANKRUPTCIES CONTINUE TO DECLINE, AS REFLECTED BY THE FAVOURABLE COFACEPAYMENT INCIDENT INDEX TREND. SINGAPORE MOREOVER BOASTS THE BEST GOVERNANCE IN ASIA THANKS TO AN EFFECTIVE LEGAL SYSTEM AND A GOOD LEVEL OF FINANCIALTRANSPARENCY. HOWEVER, A GROWTH SLOWDOWN IS EXPECTED FOR 2008 (4.5%) AMID WEAKER DEMAND GROWTHIN THE UNITED STATES, SINGAPORE'S NUMBER TWO TRADING PARTNER. THE FOREIGN TRADE CONTRIBUTION TO GROWTH WILL THUS DECLINE ESPECIALLY WITH EXPORTS REPRESENTING 210 PER CENT OF GDP. INFLATION ACCELERATED IN 2007 AND REACHED 7.5% IN MAY 2008 BECAUSE OF RISING RAWMATERIAL PRICES. INDEED, SINGAPORE IMPORTS ALMOST ALL ITS ENERGY AND FOOD. HOWEVER, FOR THE ENTIRE YEAR, INFLATION SHOULD MODERATE AND REACH 2.8%. THE FINANCIAL SITUATION HAS REMAINED ROBUST AS THE EQUILIBRIUM OF PUBLIC SECTOR FINANCES AND THE SOLIDITY OF A BANKING SYSTEM POISED TO ADOPT BASEL IIPRUDENTIAL STANDARDS ATTEST. EXTERNAL ACCOUNTS CONTINUE MOREOVER TO SHOW LARGE SURPLUSES THANKS TO GOOD PERFORMANCE IN A RANGE OF SECTORS INCLUDING ELECTRONICS, TRANSPORT, CONSTRUCTION, TOURISM, AND FINANCIAL SERVICES. THE DECLINE EXPECTED IN THE CURRENT ACCOUNT SURPLUS IN 2008 SHOULD NOT JEOPARDISE SINGAPORE'S EXCEPTIONAL FINANCIAL SOLIDITY. UNDERPINNED BY SUBSTANTIAL FISCAL RESERVES AND A LARGE MAJORITY IN PARLIAMENT, THE PEOPLE'S ACTION PARTY OF PRIME MINISTER LEE HSIEN LOONG HAS SOUGHT AT ONCE TO MAKE THE CITY-STATE MORE ATTRACTIVE TO FOREIGN INVESTORS AND TO BOLSTER THE SPECIALISATION IN HIGH-VALUE ADDED SECTORS TO MEET THE GROWING COMPETITION FROM LOW-COST ASIAN ECONOMIES. BESIDES REDUCTIONS IN CORPORATE INCOME TAX AND TAXINCENTIVES FOR COMPANIES SETTING UP OPERATIONS IN SINGAPORE, THE GOVERNMENT CONTINUES TO PURSUE ITS INFRASTRUCTURE AND R&D INVESTMENT POLICY. ASSETS " THE COUNTRY HAS BEEN PURSUING AMBITIOUS DIVERSIFICATION STRATEGY,ESPECIALLY TO HIGH VALUE-ADDED SECTORS LIKE CHEMICALS, PHARMACEUTICALS, AND FINANCE. " IT IS AMONG THE MOST ADVANCED COUNTRIES OF ASIA IN QUALITY COMPETITIVENESS TERMS. " SINGAPORE HAS BECOME A MAJOR EXPORTER OF CAPITAL IN ASIA IN MANY ECONOMICSECTORS -SUCH AS FINANCE, TELECOMMUNICATIONS, TRANSPORT - NOTABLY VIA THE STATE-OWNED TEMASEK HOLDING COMPANY " THE ECONOMY HAS BENEFITED FROM THE COUNTRY'S POLITICAL STABILITY AND EXCELLENT BUSINESS CLIMATE.WEAKNESSES " SKILLED LABOUR IS IN SHORT SUPPLY IN THE SECTORS THE COUNTRY WISHES TO DEVELOP. " THE AGEING POPULATION COULD ULTIMATELY UNDERMINE ECONOMIC PERFORMANCE. " GROWING INEQUALITY AND THE EMERGENCE OF LONG-TERM UNEMPLOYMENT AMONG THELEAST SKILLED COULD GENERATE SOCIAL TENSIONS. " THE VERY OPEN ECONOMY IS VULNERABLE TO A WORLD ECONOMIC DOWNTURN. WHOLESALE AND RETAIL TRADE SECTOR PAST PERFORMANCETHE WHOLESALE AND RETAIL TRADE SECTOR GREW BY 6.0% IN 2Q 2008, HIGHER THAN THE 5.5% GROWTH IN 1Q 2008. NON-OIL RE-EXPORTS GREW BY 14.0% IN 2Q 2008, STRONGER THAN THE 11.0% GROWTH IN 1Q 2008. RETAIL SALES FELL BY 2.9% IN 2Q 2008. HOWEVER,THIS REPRESENTED A DECLINE OVER A RELATIVELY HIGHER BASE IN 2Q 2007(8.1% GROWTH). EXCLUDING MOTOR VEHICLES, RETAIL SALES FELL BY 1.4% IN 2Q 2008, INCONTRAST TO THE 1.4% GROWTH IN 1Q 2008. DOMESTIC WHOLESALE TRADE INDEX THE OVERALL DOMESTIC WHOLESALE TRADE ROSE BY 11.1% IN 2Q 2008 OVER 1Q 2008. EXCLUDING PETROLEUM, DOMESTIC SALES ROSE BY 2.9%. AFTER SEASONAL ADJUSTMENT, DOMESTIC SALES ROSE BY 4.5% IN 2Q 2008 OVER 1Q 2008. EXCLUDING PETROLEUM, DOMESTIC SALES FELL BY 1.9%. ON A YEAR-ON-YEAR BASIS, THE OVERALL DOMESTIC WHOLESALE TRADE GREW BY 25.4% OVERTHE PREVIOUS YEAR. EXCLUDING PETROLEUM, DOMESTIC SALES ROSE BY 4.7%. AFTER REMOVING PRICE EFFECT, THE OVERALL DOMESTIC WHOLESALE TRADE FELL BY 2.0% IN 2Q 2008 OVER 2Q 2007. ON A QUARTER-OVER-QUARTER BASIS, MOST WHOLESALE SECTORS REPORTED HIGHER DOMESTICSALES AFTER RECORDING SLOWER BUSINESS IN THE PREVIOUS QUARTER. DOMESTIC SALES OF TIMBER, PAINTS AND CONSTRUCTION MATERIALS, AND INDUSTRIAL AND CONSTRUCTION MACHINERY REGISTERED INCREASES OF 22.7% AND 21.1% IN 2Q 2008.PETROLEUM AND PETROLEUM PRODUCTS, AND CHEMICALS AND CHEMICAL PRODUCTS ROSE BY 20.2% AND 12.6% RESPECTIVELY IN 2Q 2008 OVER 1Q 2008. AFTER ADJUSTING FOR PRICE CHANGES, SALES REMAINED AT SIMILAR LEVELS AS 1Q 2008. CONVERSELY, DOMESTIC GENERAL WHOLESALE TRADE FELL BY 15.2%. IT WAS FOLLOWED BYDOMESTIC SALES OF FOOD, BEVERAGES AND TOBACCO, SHIP CHANDLERS AND BUNKERING, ANDHOUSEHOLD EQUIPMENT AND FURNITURE WHICH CONTRACTED BY 4.1% TO 6.9% OVER 1Q 2008. ON A YEAR-ON-YEAR BASIS, THE WHOLESALE SECTORS RECORDED MIXED PERFORMANCE IN DOMESTIC SALES IN 2008 OVER 2Q 2007. THE DOMESTIC SALES OF PETROLEUM AND PETROLEUM PRODUCTS, SHIP CHANDLERS AND BUNKERING, TIMBER, PAINTS AND CONSTRUCTION MATERIALS, AND CHEMICALS AND CHEMICALPRODUCTS ROSE BY 17.8% TO 54.7% IN 2Q 2008. SALES OF TIMBER, PAINTS AND CONSTRUCTION MATERIALS ROSE BY 8.7% OVER 2Q 2007. CONVERSELY, DOMESTIC GENERAL WHOLESALE TRADE FELL BY 24.6%. WHOLESALE TRADE OF FOOD, BEVERAGES AND TOBACCO, HOUSEHOLD EQUIPMENT AND FURNITURE, AND TRANSPORT EQUIPMENT FELL BY 7.7% TO 9.3%. DOMESTIC SALES OF ELECTRONIC COMPONENTS DECLINEDBY 4.3% IN 2Q 2008 WHILE TELECOMMUNICATIONS AND COMPUTERS REMAINED STABLE. FOREIGN WHOLESALE TRADE INDEXFOREIGN WHOLESALE TRADE SALES ROSE BY 11.8% IN 2Q 2008 OVER 1Q 2008. EXCLUDING PETROLEUM, SALES ROSE BY 4.7%. AFTER SEASONAL ADJUSTMENT, FOREIGN SALES ROSE BY 6.7% OVER 1Q 2008. EXCLUDING PETROLEUM, SALES ROSE SLIGHTLY BY 1.0%. ON A YEAR-ON-YEAR BASIS, FOREIGN WHOLESALE SALES ROSE BY 28.4% OVER 1Q 2008. EXCLUDING PETROLEUM, SALES ROSE BY 15.3%. AFTER REMOVING PRICE EFFECT, OVERSEAS SALES ROSE SLIGHTLY BY 1.1% OVER 2Q 2007.COMPARED TO 1Q 2008, FOREIGN SALES ROSE IN THE MAJORITY OF WHOLESALE SECTORS IN 2Q 2008. FOOD, BEVERAGES AND TOBACCO WHOLESALERS REPORTED HIGHER OVERSEAS SALES OF 21.9% IN 2Q 2008 OVER 1Q 2008, THE LARGEST INCREASE AMONG ALL SECTORS. IT WAS FOLLOWEDBY PETROLEUM AND PETROLEUM PRODUCTS, AND HOUSEHOLD EQUIPMENT AND FURNITURE WITH INCREASES OF 19.4$ AND 16.1% RESPECTIVELY. FOREIGN SALES OF SHIP CHANDLERS AND BUNKERING ROSE BY 8.1% IN 2Q 2008 OVER 1Q 2008.TIMBER, PAINTS AND CONSTRUCTION MATERIALS, CHEMICALS AND CHEMICAL PRODUCTS, AND INDSUTRIAL AND CONSTRUCTION MACHINERY ALSO ROSE BY BETWEEN 5.8% TO 7.2%. AFTER ADJUSTING FOR PRICE INCREASES, THE SALES VOLUME OF PETROLEUM AND PETROLEUMPRODUCTS, CHEMICALS AND CHEMICAL PRODUCTS, SHIP CHANDLERS AND BUNKERING CONTRACTED COMPARED TO 1Q 2008.CONVERSELY, FOREIGN SALES OF TELECOMMUNICATIONS AND COMPUTERS, AND GENERAL WHOLESALE TRADE FELL IN 2Q 2008 OVER 1Q 2008. SALES OF ELECTRONIC COMPONENTS REMAINED STABLE AS COMPARED TO 1Q 2008. COMPARED TO A YEAR AGO, MOST WHOLESALE SECTORS REPORTED DOUBLE-DIGIT GROWTHS INFOREIGN SALES IN 2Q 2008. WHOLESALING OF FOOD, BEVERAGES AND TOBACCO CONTINUED TO RECORD HIGHER GROWTH RATES IN FOREIGN SALES, WITH HIGHER TURNOVER OF 94.8% IN 2Q 2008 OVER A YEAR AGO. AFTER ADJUSTING FOR PRICES, SALES VOLUME ROSE BY 77.3% OVER A YEAR AGO. WITH HIGHER FUEL PRICES. WHOLESALE SECTORS OF PETROLEUM AND PETROLEUM PRODUCTS, SHIP CHANDLERS AND BUNKERING REPORTED HIGHER FOREIGN SALES OF 43.7% AND 38.1% RESPECTIVELY OVER A YEAR AGO. AFTER REMOVING PRICE EFFECT, THE SALES VOLUME OF PETROLEUM AND PETROLEUM PRODUCTS FELL BY 10.7% WHILE SALES VOLUME OF SHIPCHANDLERS AND BUNKERING DECLINED BY 13.6. GENERAL WHOLESALE TRADE, CHEMICALS AND CHEMICAL PRODUCTS, TRANSPORT EQUIPMENT, AND HOUSEHOLD EQUIPMENT AND FURNITURE, AND INDUSTRIAL AND CONSTRUCTION MACHINERYALSO REGISTERED STRONG SALES GROWTH OF BETWEEN 5.8% TO 24.7%. CONVERSELY, FOREIGN SALES OF ELECTRONIC COMPONENTS, TIMBER, PAINTS AND CONSTRUCTION MATERIALS, AND TELECOMMUNICATIONS AND COMPUTERS FELL BY 4.9% TO 8.6%IN 2Q 2008 COMPARED TO 2Q 2007. NEWS RETAIL SPENDING DOWN FOR THIRD STRAIGHT MONTHRETAIL SPENDING FELL FOR THE THIRD STRAIGHT MONTH IN AUGUST AS DEMAND FOR CARS AND RECREATIONAL GOODS DROPPED AMID THE COUNTRY'S FIRST RECESSION SINCE 2002. WHILE SPENDING ROSE 4.2% FROM AUGUST LAST YEAR, IT WAS 5.8% FROM JULY THIS YEAR,ACCORDING TO THE RETAIL SALES INDEX RELEASED BY THE DEPARTMENT OF STATISTICS (DOS) YESTERDAY.TOTAL RETAIL SALES IN AUGUST WERE ESTIMATED AT S$2.71 BILLION, DOWN FROM S$2.88 BILLION IN JULY. THE SLOWDOWN IN SPENDING MEANT PEOPLE SPLASHED OUT LESS ON CARS, FURNITURE AND HOUSEHOLD EQUIPMENT, PETROL, APPAREL, FOOTWEAR AND RECREATIONAL GOODS. SALES FELL ACROSS THE BOARD FROM THEIR JULY TAKINGS, WITH DECLINES RANGING FROM3.6% TO 20.4%. BUT THERE WAS A DOUBLE-DIGIT RISE IN SALES OF BIG-TICKET LUXURY ITEMS. TELECOMMUNICATIONS APPARATUS AND COMPUTER RETAILERS ENJOYED SALES GROWTH OF 19.5%, WHILE THE WATCH AND JEWELLERY SECTOR'S RECEIPTS ROSE BY 13.6% IN JULY. A RECENT STRAITS TIMES SURVEY OF 62 TENANTS IN SIX ORCHARD ROAD MALLS FOUNDRETAIL REVENUES HAVE FALLEN BY AS MUCH AS 30.0% IN THE PAST THREE WEEKS, COINCIDING WITH THE BANK FAILURES, STOCK MARKET ROUTS AND GROWING FEARS OVER THEGLOBAL FINANICAL TURMOIL. SEVERAL STORES HAVE ALSO LAUNCHED MID-SEASON SALES, AN EXERCISE UNUSUALLY UNDERTAKEN ONLY IN PARTICULARY SLOW PERIODS.THE AUGUST FIGURES WERE MORE ENCOURAGING, HOWEVER, WHEN COMPARED WITH THE SAME PERIOD LAST YEAR. VIRTUALLY ALL SEGMENTS, FROM DEPARTMENT STORES TO SUPERMARKETS, REPORTED DOUBLE-DIGIT GROWTHS OF 11.2 TO 29.6%. HOWEVER, MOTOR VEHICLE SALES FELL 12.9% AND RECREATIONAL GOODS SALES CONTRACTED BY 6.8%. INFLATION MAY HAVE PUSHED SALES FIGURES UP. AFTER REMOVING THE EFFECT OF HIGHERPRICES, WHICH WOULD GIVE A HIGHER OVERALL SALES VALUE, RETAIL SALES ACTUALLY REMAINED UNCHANGED FROM A YEAR AGO. VALUE OF PETROL SALES IN MARCH SOARED 39%, AS A RESULT OF RISING CRUDE OIL PRICES, EVEN THOUGH THE ACTUAL VOLUME WAS ONLY MARGINALLY HIGHER. PETROL STATION SALES POSTED THE FASTEST GROWTH OF ALL RETAIL SEGMENTS IN MARCH,ACCORDING TO FIGURES THE DEPARTMENT OF STATISTICS RELEASED YESTERDAY. PETROL SALES ROSE 28.2% IN FEBRUARY. MOST RETAIL SEGMENTS POSTED HIGHER GROWTH MARCH AFTER A WEAKER SHOWING IN FEBRUARY FOR THE COMPUTERS, FURNITURE, OPTICAL GOODS AND BOOKS SEGMENTS. BUTMOTOR VEHICLES FELL 8.1% FROM MARCH 2007 AS A RESULT OF THE ESCALATING PETROL PRICES. CRUDE OIL HIT ALMOST US$127 A BARREL RECENTLY. THE SUPERMARKET AND FOOD AND BEVERAGE SEGMENTS ALSO REPORTED LOWER SALES ACTIVITY THAN IN FEBRUARY, WITH FALLS OF 4.7% AND 11.9%, RESPECTIVELY.OVERALL RETAIL SALES ROSE BY 5.6% COMPARED TO MARCH 2007. EXCLUDING MOTOR VEHICLES, SALES VOLUME ROSE BY 12.5%. OCBC ECONOMIST SELENA LING NOTED THE RETAIL NUMBERS INDICATED RELATIVELY HEALTHYCONSUMER SPENDING. "THIS IS A TESTIMONY TO THE FACT THAT THE SINGAPOREAN ECONOMYIS STILL ENJOYING BROAD-BASED GROWTH DESPITE THE GLOBAL SLOWDOWN," SHE SAID. THE TOTAL VALUE OF RETAIL SALES IN MARCH WAS ESTIMATED AT S$2.89 BILLION, COMPARED WITH S$2.59 BILLION IN FEBRUARY. OUTLOOK GENERALLY, THE MAJORITY OF WHOLESALERS, WITH A NET WEIGHTED BALANCE OF 55% OF FIRMS, FORECASTS BUSINESS ACTIVITIES IN THE COMING MONTHS, TO REMAIN AT SIMILAR LEVELS. FOR THE REMAINING WHOLESALE FIRMS, A WEIGHTED 22% OF THEM EXPECTS BETTERBUSINESS CONDITIONS TO IMPROVE. THESE FIRMS ARE MAINLY IN THE BUSINESS OFWHOLESALE TRADE OF INDUSTRIAL MACHINERY AND EQUIPMENT, ELECTRONIC COMPONENTS, AND COMPUTER AND ACCESSORIES. ON THE OTHER HAND, A WEIGHTED 23% OF WHOLESALERS, MAINLY FROM FOOD AND BEVERAGES, AND PETROLEUM AND PETROLEUM PRODUCTS, FORECAST BUSINESS CONDITIONS TO DETERIORATE IN THE COMING MONTHS. ON THE WHOLE, A NET WEIGHTED BALANCE OF 1% OF FIRMS EXPECTS GENERAL BUSINESS OUTLOOK TO REMAIN LESSFAVOURABLE. A NET WEIGHTED BALANCE OF 20% OF RETAILERS PREDICTS LESS FAVOURABLE BUSINESS CONDITIONS FOR THE PERIOD ENDING DECEMBER 2008. MOTOR VEHICLES RETAILERS, AND JEWWELLERY AND WATCHES CONTINUE TO PREDICT SLOWER SALES IN THE MONTHS AHEAD. EXTRACTED FROM: MINISTRY OF TRADE AND INDUSTRY, SINGAPORE SINGAPORE DEPARTMENT OF STATISTICS THE STRAITS TIMES
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.79 |
|
UK Pound |
1 |
Rs.75.41 |
|
Euro |
1 |
Rs.61.48 |
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%)