MIRA INFORM REPORT

 

 

Report Date :           

29.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SHIBUYA SAKURA INDUSTRIES (S) PTE LTD

 

 

Registered Office :

3 Shenton Way #15-10 Shenton House Singapore 068805

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

03.10.1997

 

 

Com. Reg. No.:

199706908E

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Wholesale of Textiles

 

 

No. of Employees :

10 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 40,000

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com  while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Singapore

A1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Contact Points

 

Company Name:

Shibuya Sakura Industries (S) Pte Ltd

Supplied Name:

Shibuya Sakura Industries (S) Pte Ltd.

Trading Address:

3 Shenton Way #15-10 Shenton House Singapore 068805

Supplied Address:

Singapore

Telephone Number:

+65-6459-1662

Fax Number:

+65-6458-4005

E-mail:

saumil@trusha.com.sg    

Notes: Subject’s exact name and address are as above.

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 40,000

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Shibuya Sakura Industries (S) Pte Ltd

Registered Address:

3 Shenton Way #15-10 Shenton House Singapore 068805

Date of Registration::

1997-10-3

Registered Number:

199706908E

Country of Incorporation:

Singapore

Registered Capital:

SGD 1,270,000 (USD 979,043)

(As of 2011.12, 1 SGD = 0.7709 USD)

Paid-up Capital:

SGD 1,270,000 (USD 979,043) = 1,270,000 Shares@1 SGD

Legal Form:

Limited Exempt Private Company

Principal Activities:

46411--Wholesale Of Textiles

46900--General Wholesale Trade (Including General Importers And Exporters)

Staff:

About 10 Employees

Status:

Live Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2010-11-8

 

 

History

 

Subject was incorporated on 1997-10-3 with registered number 199706908E as Limited Exempt Private Company in Singapore.

 

 

Shareholders

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

Gary Donald Seaton

1

--

N Anandaraja S/O Nadarajah

249,999

20%

Parikh Saumil Kishore Kumar

1,020,000

80%

Total

1,270,000

100%

 

Major Shareholder Information:

1

Name:

Gary Donald Seaton

ID Number:

E1022155

Address:

2 Nerrima Street, Shailer Park, Brisbane, QLD 4128, Australia

2

Name:

N Anandaraja S/O Nadarajah

ID Number:

S1794580G

Address:

12 Telok Blangah Crescent #15-109 Singapore 090012

3

Name:

Parikh Saumil Kishore Kumar

ID Number:

S7913209H

Address:

48A Lorong J Telok Kurau Singapore 425838

 

 

 

Subsidiaries & Branches

 

Subject did not introduce whether it has any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Management Information

 

Core Management

Detailed Information of Management:

1

Name:

Gary Donald Seaton

Position:

Director

ID Number:

E1022155

Address:

2 Nerrima Street,Shailer Park, Brisbane, QLD 4128, AUSTRALIA

Nationality:

Australian

Date of Appointment:

2001-6-14

2

Name:

N Anandaraja S/O Nadarajah

Position:

Director

ID Number:

S1794580G

Address:

12 Telok Blangah Crescent #15-109 Singapore 090012

Nationality:

Singapore Citizen

Date of Appointment:

1999-9-21

3

Name:

Harikrishnan S/O Muthusamy

Position:

Secretary

ID Number:

S2135685I

Address:

101 Ah Hood Road #11-02 Singapore 320101

Nationality:

Singapore Citizen

Date of Appointment:

1997-10-3

4

Name:

Kirtikumar Mukundrai Vora

Position:

Director

ID Number:

S2605630F

Address:

414 Bedok North Avenue 2 #08-113 Singapore 460414

Nationality:

Singapore Citizen

Date of Appointment:

2011-4-4

5

Name:

Parikh Saumil Kishore Kumar

Position:

Director

ID Number:

S7913209H

Address:

48A Lorong J Telok Kurau Singapore 425838

Nationality:

Singapore Citizen

Date of Appointment:

2007-10-19

 

Personnel Structure

Total Employees

About 10 employees

 

 

Operation Information

 

Offices & Factories

 

Office

Address:

3 Shenton Way #15-10 Shenton House Singapore 068805

 

Production Information

l         Subject is a trader of metal scraps without any production activities itself.

 

Purchase

l         Subject purchases metal scraps mainly from USA and South America.

 

Sales Information

l         Subject is engaged in sales of metal scraps.

l         Subject’s products are both sold in domestic and overseas market and it is introduced that subject exports to Taiwan, Vietnam, etc

 

 

 

 

 

Settlements

 

Purchase

Domestic Markets

Subject has little domestic purchase.

 

Overseas Markets

Products

Payment Terms

Proportion

Metal scraps, etc

CBD, etc

100%

 

Sales

Domestic Markets

Product

Sales Terms

Proportion

Metal scraps, etc

CBD, etc

100%

 

Overseas Markets

Product

Sales Terms

Proportion

Metal scraps, etc

CBD, etc

100%

 

 

Balance Sheet

 

Unit: SGD

 

2007-3-31

2006-3-31

2005-3-31

Total Assets

4,925,039.00

3,902,934.00

4,424,293.00

Total Current Assets

4,923,894.00

3,899,626.00

4,373,558.00

Total Non-Current Assets f.k.a.

[Fixed And Others]

1,145.00

3,308.00

50,735.00

Total Liabilities

3,745,504.00

3,097,759.00

3,911,126.00

Total Current Liabilities

3,745,504.00

3,097,759.00

3,911,126.00

Total Non-Current Liabilities

0.00

0.00

0.00

Total Equity f.k.a [Shareholder's

Funds]

1,179,535.00

(USD 909,304)

410,000.00

(USD 316,069)

513,167.00

(USD 395,600)

Paid-Up Capital

N.A.

410,000.00

250,000.00

Share Capital

500,000.00

-

-

Other Reserves, Total f.k.a.

[Reserves]

0.00

395,175.00

263,167.00

Retained Earnings/(Accumulated

Loss)

679,535.00

0.00

0.00

(As of 2011.12, 1 SGD = 0.7709 USD)

 

Profit/Loss Account

Unit: SGD

 

2006-4-1

~2007-3-31

2005-4-1

~2006-3-31

2004-4-1

~2005-3-31

Revenue f.k.a [Sales Turnover And

Other Operating Revenues]

24,903,021.00

(USD

19,197,739)

18,917,516.00

(USD

14,583,513)

0.00

Profit/(Loss) before Tax from

Continuing Operations f.k.a

[Profit/(Loss) before tax]

295,883.00

188,288.00

0.00

Profit/(Loss) after Tax from

Continuing Operations f.k.a

[Profit/(Loss) After Tax]

284,360.00

147,008.00

0.00

Net Income/(Loss) From Extraordinary And Non-Operating Items

N.A.

0.00

0.00

Profit/(Loss) After Tax and

Extraordinary Items

N.A.

147,008.00

(USD 113,328)

0.00

(As of 2011.12, 1 SGD = 0.7709 USD)

 

Financial Ratio

 

 

2006-4-1

~2007-3-31

2005-4-1

~2006-3-31

2004-4-1

~2005-3-31

Earning Capacity

 

 

 

Rate of Net Profit on Sales (%)

1.14

0.78

0.00

Return of Investment (%)

5.77

3.77

0.00

Return of Shareholder's Funds (%)

24.11

35.86

0.00

Total Assets Turnover (%)

5.06

4.85

0.00

Financial Stability

 

 

 

Current/Working Capital Ratio (%)

1.31

1.26

1.12

Proprietary Ratio (%)

23.95

10.50

11.60

Total Debt to Equity Ratio (%)

76.05

88.31

88.40

 

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. The subject also declined to disclose such information due to the confidentiality reason, thus we can not find the latest financial information and we supplied information above for reference.

 

 

Bankers

 

Bank Charges:

1

Charge Number:

C200306100

Date of Registration:

2003-12-17

Name:

Indian Bank

Amount Secured:

All Monies

2

Charge Number:

C200401985

Date of Registration:

2004-4-20

Name:

Indian Bank

Amount Secured:

All Monies

3

Charge Number:

C200404843

Date of Registration:

2004-9-29

Name:

Indian Bank

Amount Secured:

All Monies

4

Charge Number:

C200405012

Date of Registration:

2004-10-8

Name:

Indian Bank

Amount Secured:

All Monies

5

Charge Number:

C200601297

Date of Registration:

2006-2-27

Name:

Indian Bank

Amount Secured:

All Monies

6

Charge Number:

C200705090

Date of Registration:

2007-7-3

Name:

Indian Bank

Amount Secured:

All Monies

7

Charge Number:

C200808368

Date of Registration:

2008-9-8

Name:

Indian Bank

Amount Secured:

All Monies

8

Charge Number:

C201001573

Date of Registration:

2010-2-20

Name:

Indian Bank

Amount Secured:

All Monies

9

Charge Number:

C201003697

Date of Registration:

2010-5-5

Name:

Indian Bank

Amount Secured:

All Monies

10

Charge Number:

C201102985

Date of Registration:

10-03-2011

Name:

Indian Bank

Amount Secured:

All Monies

 

 

Auditors

 

Name:

D. ARUMUGAM & CO

 

Interview Details

 

Name:

Mr. Saumil

Department:

Sales department

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.21

UK Pound

1

Rs.83.32

Euro

1

Rs.69.51

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.