MIRA INFORM REPORT

 

 

Report Date :           

04.05.2011

 

IDENTIFICATION DETAILS

 

Name :

ASERRA CAPITAL PARTNERS PTE. LTD

 

 

Registered Office :

141 Middle Road #03-03a Gsm Building, Singapore 188976

 

 

Country :

Singapore

 

 

Date of Incorporation :

07.09.2009

 

 

Com. Reg. No.:

200916457E

 

 

Legal Form :

Pte Ltd

 

 

Line of Business :

 
Other Investment Holding Companies; Investment Holding Company

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Subject Company     

 

ASERRA CAPITAL PARTNERS PTE. LTD.

 

 

Line Of Business   

 
OTHER INVESTMENT HOLDING COMPANIES; INVESTMENT HOLDING COMPANY

 

 

Parent Company    

 

ASERRA CAPITAL PARTNERS LTD

(PERCENTAGE OF SHAREHOLDING: 100%)

 

 

Financial Elements

 

Sales                            : -

Networth                                   : -

Paid-Up Capital              : S$1

Net result                      : -

Net Margin(%)                : -

Return on Equity(%)       : -

Leverage Ratio               : -

 

 

COMPANY IDENTIFICATION

 

Subject Company :

ASERRA CAPITAL PARTNERS PTE. LTD.

Business Address:

141 MIDDLE ROAD #03-03A GSM BUILDING

Town:

SINGAPORE

Postcode:

188976

Country:

Singapore

ROC Number:

200916457E

Easy Number company:

00006771769458

 

 

SUMMARY

 

Legal Form:

Pte Ltd

Date Inc.:

07/09/2009

Summary year :

 

All amounts in this report are in :

SGD

Sales:

 

Capital:

 

Paid-Up Capital:

1

Net result :

 

Share value:

 

 
 
BASED ON ACRA'S RECORD 
                                              NO OF SHARES      CURRENCY             AMOUNT              
ISSUED ORDINARY                1                             SGD                        1.00                       
PAID-UP ORDINARY                -                             SGD                        1.00
AUDITOR : NIL

 

 

REFERENCES

 

Credit Opinion:

NOT RECOMMENDED

 

Litigation:

No

Company status :

TRADING

Started :

07/09/2009

 

PRINCIPAL(S)

 

ZAINAL ABIDINSYAH SIREGAR

S2695512B

Director

 

 

DIRECTOR(S)

 

TAN SZE LIAN CELINE

S0106658G

Company Secretary

Appointed on :

07/09/2009

 

Street :

261 ARCADIA ROAD #10-03 HILLCREST ARCADIA

 

Town:

SINGAPORE

 

Postcode:

289853

 

Country:

Singapore

 

 

ZAINAL ABIDINSYAH SIREGAR

S2695512B

Director

Appointed on :

07/09/2009

 

Street :

46 CORONATION ROAD WEST #04-04 ASTRID MEADOWS

 

Town:

SINGAPORE

 

Postcode:

269262

 

Country:

Singapore

 

 

ERWIN SUTANTO

S365953

Director

Appointed on :

16/11/2010

 

Street :

JL SAWO NO. 24 004/002 GONDANGDIA MENTENG

 

Town:

JAKARTA PUSAT

 

Country:

Indonesia

 

 

ACTIVITY(IES)

 

Activity Code:

11320

HOLDING COMPANIES

 
 
BASED ON ACRA'S RECORD 
1) OTHER INVESTMENT HOLDING COMPANIES; INVESTMENT

 

 

SHAREHOLDERS(S)

 

ASERRA CAPITAL PARTNERS LTD

1

Company

 

Street :

PORTCULLIS TRUSTNET CHAMBERS P.O. BOX 3444, ROAD TOWN

Town:

TORTOLA

Country:

Virgin Islands (British)

 

 

HOLDING COMPANY

 

ASERRA CAPITAL PARTNERS LTD

T09UF2198A

100%

 

 

PAYMENT HISTORY AND EXPERIENCES

 

Trade Morality:

UNKNOWN

Liquidity :

UNKNOWN

Payments :

UNKNOWN

Trend :

UNKNOWN

Financial Situation:

UNKNOWN

 

 

FINANCIAL COMMENTS

 

THE SUBJECT DID NOT FILE ITS FINANCIALS FOR THE YEAR 2009. HENCE, THE 
FINANCIAL COMMENTS WILL NOT BE CONDUCTED. INSTEAD, AN ADVERSE CHECK ON
THE DIRECTORS ARE MADE

 

BACKGROUND/OPERATION

 

THE COMPANY WAS INCORPORATED IN THE REPUBLIC OF SINGAPORE ON          
07/09/2009 AS A LIMITED PRIVATE COMPANY AND IS TRADING UNDER ITS      
PRESENT NAMESTYLE AS "ASERRA CAPITAL PARTNERS PTE. LTD.".             
                                                                      
AS AT 27/04/2011, THE COMPANY HAS AN ISSUED AND PAID-UP CAPITAL OF 1
SHARES, OF A VALUE OF S$1.                                            
                                                                      
PRINCIPAL ACTIVITIES:                                                 
SUBJECT IS REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY      
AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) OTHER INVESTMENT HOLDING COMPANIES; INVESTMENT HOLDING COMPANY     
                                                                      
AS THE SUBJECT'S CONTACT NUMBER AND OTHER INFORMATION IS NOT LISTED IN
THE LOCAL DIRECTORIES AND INTERNET, NO OTHER INFORMATION IS AVAILABLE 
                                                                      
NO OTHER TRADE INFORMATION WAS AVAILABLE.               
                                                                      
REGISTERED AND BUSINESS ADDRESS:                                      
141 MIDDLE ROAD
#03-03A                                                               
GSM BUILDING                                                          
SINGAPORE 188976                                                      
- DATE OF CHANGE OF ADDRESS: 16/11/2010                               
- OWNED BY: HEADWAY CENTURY PTE. LTD.
                                                                      
WEBSITE: -                                                            
EMAIL  : -

 

 

MANAGEMENT

 

THE DIRECTORS AT THE TIME OF THIS REPORT ARE:                         
                                                                      
1) ZAINAL ABIDINSYAH SIREGAR, A SINGAPORE PERMANENT RESIDENT          
   - HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.
                                                                      
2) ERWIN SUTANTO, A SINGAPOREAN                                       
   - HOLDS NO OTHER DIRECTORSHIPS AS RECORDED IN OUR DATABASE.

 

ADVERSE ON DIRECTORS

 

DIRECTOR'S NAME:                                              ZAINAL ABIDINSYAH SIREGAR                            
ADVERSE REPORT AGAINST DIRECTOR:             NOT AVAILABLE FROM OUR DATABASE      
PROPERTY OWNERSHIP:                                     NIL                                               
ANNUAL VALUE:                                                   N.A.                                                    
CO-OWNER (S):                                                    N.A.
                                                                      
DIRECTOR'S NAME:                                              ERWIN SUTANTO                                        
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

 

 

Singapore’s Country Rating 2010

 

Investment Grade

THE SINGAPORE ECONOMY WAS SIGNIFICANTLY AFFECTED BY THE CRISIS DUE TO THE CONTRACTION OF EXPORTS, WHICH REPRESENT 210% OF GDP. SALES ABROAD OF MANUFACTURED PRODUCTS (ELECTRONICS, ENGINEERING, PHARMACEUTICALS, PETROCHEMICALS) AND SERVICES (FINANCIAL SERVICES, TOURISM, TRANSPORT) WERE AFFECTED BY THE WEAK PERFORMANCE OF THE MAIN TRADING PARTNERS (MALAYSIA, UNITED STATES, CHINA, JAPAN). WITH THE ECONOMY'S SLIDE INTO RECESSION, THE CENTRAL BANK REDUCED INTEREST RATES SEVERAL TIMES AND A STIMULUS PROGRAMME REPRESENTING 8% OF GDP WAS IMPLEMENTED IN JANUARY LAST YEAR. ALTHOUGH INCREASED PUBLIC SPENDING ON INFRASTRUCTURE, TRANSPORT, HEALTH AND EDUCATION ENABLED THE AUTHORITIES TO LIMIT THE CONTRACTION OF INVESTMENT, THAT DID NOT SUFFICE TO OFFSET THE DROP IN PRIVATE INVESTMENT. THE GOVERNMENT MOREOVER GRANTED DEFAULT GUARANTEES OF UP TO 80% ON NEW LOANS. AND HOUSEHOLD CONSUMPTION WAS SUPPORTED BY A REDUCTION OF INCOME TAX AND MEASURES TO FOSTER EMPLOYMENT. 

IN Q1 2010, GROWTH REBOUNDED SIGNIFICANTLY (15.5% Y/Y). FOR THE ENTIRE YEAR, GROWTH IS EXPECTED TO REMAIN HIGH (8.9%) THANKS TO THE POSITIVE IMPACT ON DOMESTIC DEMAND OF THESE EXPANSIONARY MONETARY AND FISCAL POLICIES AND THE GRADUAL RECOVERY OF THE WORLD ECONOMY. INVESTMENT, CONSUMPTION, AND NET EXPORTS ARE AGAIN EXPECTED TO CONTRIBUTE POSITIVELY TO GROWTH. ON THE SUPPLY SIDE, THE CONSTRUCTION SECTOR WILL BENEFIT AGAIN THIS YEAR FROM INCREASED PUBLIC SPENDING WHILE ELECTRONICS, PHARMACEUTICALS, PETROCHEMICALS, FINANCIAL SERVICES, AND TOURISM WILL GRADUALLY RECOVER. THE COFACE PAYMENT MONITORING ARE THUS EXPECTED TO REFLECT THIS FAVOURABLE TREND. SINGAPORE BOASTS THE BEST GOVERNANCE IN ASIA UNDERPINNED BY AN EFFECTIVE LEGAL SYSTEM THAT FACILITATES CLAIM COLLECTION AND A HIGH LEVEL OF FINANCIAL TRANSPARENCY.

STRONG FINANCIAL POSITION

DESPITE IMPLEMENTATION OF A BROAD STIMULUS PROGRAMME, THE COUNTRY CONTINUED TO RUN A SLIGHT FISCAL SURPLUS IN 2009, WHICH IS EXPECTED TO GROW IN 2010. PUBLIC SECTOR FINANCES HAVE THUS REMAINED SOLID.

DESPITE THE CONTRACTION OF THE CURRENT ACCOUNT SURPLUS, EXTERNAL ACCOUNTS ALSO REMAINED LARGELY IN SURPLUS LAST YEAR. IN 2010, THE CURRENT ACCOUNT SURPLUS WILL LIKELY REMAIN STABLE AS RESULT OF THE MORE RAPID RECOVERY OF IMPORTS COMPARED TO EXPORTS, ASSOCIATED WITH THE RISE OF RAW MATERIAL PRICES AND THE REBOUND OF DOMESTIC DEMAND. BESIDES, THE VOLATILITY OF PORTFOLIO INVESTMENT FLOWS THAT DEVELOPED AFTER THE LEHMAN BROTHERS BANKRUPTCY EASED IN 2009. IN 2010, THE HIGH LEVEL OF FOREIGN EXCHANGE RESERVES IS EXPECTED TO CONTINUE TO ENDOW THE COUNTRY WITH GOOD CAPACITY TO WITHSTAND SUDDEN CAPITAL.

MOREOVER, DESPITE THE INTERNATIONAL FINANCIAL TURMOIL AND THE EXPOSURE OF SOME BANKS TO SUBPRIMES AND LEHMAN BROTHERS, THE BANKING SYSTEM IS STILL SOLID THANKS TO SATISFACTORY RISK MANAGEMENT, EFFECTIVE OVERSIGHT, AND HIGH SOLVENCY AND LIQUIDITY RATIOS. 

 

ASSETS

 

* VERY HIGH QUALITY-COMPETITIVENESS

* DEVELOPMENT OF HIGH VALUE-ADDED SECTORS (CHEMICALS, PHARMACEUTICALS, FINANCE)

* STRONG FDI INFLOWS THANKS TO AN ADVANTAGEOUS TAX REGIME, POLITICAL STABILITY AND  AN EXCELLENT BUSINESS ENVIRONMENT

* MAJOR EXPORTER OF CAPITAL IN ASIA VIA THE PUBLIC HOLDING COMPANY TEMASEK

 

 

WEAKNESSES

 

* ECONOMY DEPENDENT ON FOREIGN DEMAND

* SHORTAGES OF SKILLED LABOUR

* AGEING POPULATION

* LATENT SOCIAL TENSIONS IN A CONTEXT OF INCREASING INEQUALITY AND GROWING DURABLE UNEMPLOYMENT AMONG THE LEAST SKILLED

 

 

           

OVERVIEW OF SINGAPORE

 

PAST PERFORMANCE

 

IN 2Q 2010, The Singapore economy ROSE by 18.8%, after growing by 16.9% in 1q 2010. ALL MAJOR SECTORS EXPANDED, WITH manufacturing, wholesale and retail trade and financial services contributing mainly to growth.

 

ON A SEASONALLY ADJUSTED ANNUALISED QUARTER-ON-QUARTER BASIS, REAL GROSS DOMESTIC PRODUCT (GDP) rose BY 24.0%, FOLLOWING A 45.7% GROWTH IN 1Q 2010.

 

The manufacturinG Sector grew by 45.0%, COMPARED TO 2Q 2009.

 

the construction sector grew by 12.0%, SLOWER than the 13.7% in 1q 2010.

 

THE SERVICES PRODUCING INDUSTRIES AS A WHOLE ROSE BY 11.0%, SIMILAR TO THE GROWTH ACHIEVED IN 1Q 2010. IT IS LED BY STRONG EXPANSIONS IN THE WHOLESALE AND RETAIL TRADE SECTOR (19.0%) AND THE FINANCIAL SERVICES SECTOR (10.0%).

 

The financial services sector EXPANDED BY 10.2% IN 2Q 2010, SLOWER than the 18.1% GROWTH IN 1Q 2010.

 

THE WHOLESALE AND RETAIL TRADE SECTOR ROSE BY 18.9% IN 2Q 2010, GREATER THAN THE 17.7%% GROWTH IN 1Q 2010.

 

GROWTH IN THE TRANSPORT AND STORAGE SECTOR ROSE BY 7.6% IN 2Q 2010, SIMILAR TO THE GROWTH ACHIEVED IN 1Q 2010.

 

The hotels and restaurants sector ROSE BY 10.4% IN 2Q 2010, MUCH GREATER THAN THE 6.7% GROWTH IN 1Q 2010.

 

The information and communications sector rose by 2.8% in 2Q 2010, SLIGHTLY  SLOWER than the 2.9% growth in 1Q 2010.

 

The business services sector expanded by 6.4% in 1Q 2010, GREATER THAN THE

6.1 % in 1Q 2010.

 

 

NEWS

 

GROWTH MAY SURPASS GOVT’S 15% FORECAST

 

SINGAPORE’S REBOUNDING ECONOMY MAY BURST THROUGH THE 15.0% GROWTH CEILING FORECASTED BY THE GOVERNMENT EARLIER THIS YEAR.

 

ACCORDING TO 20 ECONOMISTS AND ANALYSTS SURVEYED BY THE MONETARY AUTHORITY OF SINGAPORE (MAS), THE ECONOMY IS MOST LIKELY TO EXPAND BY BETWEEN 14.9% AND 15.9% THIS YEAR, RATHER THAN THE 13.0% TO 15.0% RANGE EXPECTED BY THE GOVERNMENT.

 

THEIR MEDIAN GROWTH FORECAST OF 14.9% - ANNOUNCED IN THE LATEST MAS SURVEY OF PROFESSIONAL FORECASTERS RELEASED YESTERDAY – IS A SIGNIFICANT LEAP FROM THE MEDIAN FORECAST OF 9.0% CONTAINED IN THE PREVIOUS SURVEY IN JUNE.

 

AND, IF ACHIEVED, IT WILL ENTER THE RECORD BOOKS AS SINGAPORE’S HIGHEST-EVER ANNUAL GROWTH RATE.

 

THE LAST RECORD WAS SET IN 1970, WHEN THE ECONOMY ADVANCED 13.8%.

 

ALONG WITH THE RECORD GROWTH, THE ECONOMISTS HAVE ALSO RAISED THEIR FORECASTS FOR THIS YEAR’S EXPORTS, INFLATION AND THE UNEMPLOYMENT RATE.

 

BUT THIS YEAR’S BIGGER OUTPUT JUMP COULD SPELL SLOWER GROWTH NEXT YEAR, BECAUSE 2011’S PERFORMANCE WILL BE MEASURED AGAINST THIS YEAR’S HIGHER BASE.

THE FORECASTERS ARE NOW ANTICIPATING 4.0% TO 4.9% EXPANSION FOR NEXT YEAR, DOWN FROM THEIR EARLIER FORECAST OF 5.0% TO 5.9%.

 

THE UPGRADED PROJECTION FOR THIS YEAR WAS DRIVEN MAINLY BY THE MANUFACTURING SECTOR, WHICH IS NOW THOUGHT TO HAVE PERFORMED BETTER FOR THE FULL YEAR.

 

EXPECTATIONS HAVE ALSO BEEN RAISED FOR THE FINANCIAL SERVICES AND WHOLESALE AND RETAIL TRADE INDUSTRIES.

 

THIS SHOULD SEE THE ECONOMY REGISTERING DOUBLE-DIGIT EXPANSIONS IN THE THIRD AND FOURTH QUARTERS, SAID THE ECONOMIST POLLED.

 

THEY ARE PREDICTING 11.6% GROWTH FOR THE THIRD QUARTER, UP FROM A PREVIOUS FORECAST OF 6.0%; ALTHOUGH IT IS DOWN ON THE 18.8% RISE IN THE SECOND QUARTER.

 

IN THE FOURTH QUARTER, GROWTH MAY ACCELERATE TO 12.6%, THE SURVEY SHOWED.

 

MOST ECONOMISTS BELIEVE THE ECONOMY PEAKED IN THE SECOND QUARTER AND WILL SLOW AS THE GLOBAL ECONOMY WAVERS IN THE SECOND HALF OF THE YEAR.

 

MR DAVID COHEN OF ACTION ECONOMICS FORECASTS 15.5% GROWTH THIS YEAR, EVEN AFTER TAKING INTO ACCOUNT A QUARTER-QUARTER CONTRACTION IN THE THIRD QUARTER AND SLIGHT GROWTH IN THE FOURTH QUARTER.

 

“I THINK THE SENSE IS THAT THE SECOND QUARTER GOT A LITTLE AHEAD OF ITSELF, AND MAY HAVE BEEN EXAGGERATED BY SOME SPECIAL FACTORS IN BIOMEDICAL MANUFACTURING,” HE SAID.

 

“THE PRODUCTION SCHEDULES TEND TO BOUNCE AROUND AND MAYBE WERE A LITTLE OVERSTATED IN THE SECOND QUARTER.”

 

ON TOP OF THAT, MR COHEN SAID”THERE IS A SENSE THAT THE GLOBAL ECONOMY IS SLIPPING FROM THE PACE OF REBOUND SEEN EARLIER THIS YEAR.

 

WHILE THE ASIAN ECONOMIES GENERALLY CONTINUED ROARING IN THE SECOND QUARTER, GROWTH IN BOTH JAPAN AND THE UNITED STATES SLOWED SHARPLY.

 

THE MAS SURVEY REPORTED YESTERDAY THAT THE SINGAPORE DOLLAR IS PROJECTED TO RISE TO $1.363 AGAINST THE US DOLLAR AT THE END OF THIS MONTH AND TO $1.35 BY YEAR-END.

 

 

OUTLOOK

 

THE COMPOSITE LEADING INDEX (CLI) FELL ON A QUARTER-ON-QUARTER BASIS FOR THE FIRST TIME SINCE 1Q 2009. THE CLI DECLINED BY 1.8% IN 2Q 2010, REVERSING THE 2.4% RISE IN 1Q 2010. OF THE NINE COMPONENTS WITHIN THE INDEX, SIX COMPONENTS – NAMELY, STOCK OF FINISHED GOODS, NON-OIL SEA CARGO HANDLED,

NEW COMPANIES FORMED, STOCK PRICES, NON-OIL RETAINED IMPORTS AND WHOLESALE TRADE – DECLINED COMPARED TO THE PRECEDING PERIOD.

 

THE ONLY INDICATOR THAT SHOWED AN INCREASE WAS US PURCHASING MANAGERS’ INDEX, WHILE THE DOMESTIC LIQUIDITY AND MONEY SUPPLY INDICATORS REMAINED STABLE IN 2Q 2010.

 

THE SINGAPORE ECONOMY ROSE STRONGLY AT A PACE OF 18.0% IN 1Q 2010, IN TANDEM WITH THE RECOVERY IN GLOBAL AND REGIONAL MARKETS. THIS RECOVERY WAS BROAD-BASED ACROSS ALL KEY SECTORS OF THE ECONOMY, PARTICULARLY MANUFACTURING, WHOLESALE AND RETAIL TRADE AND FINANCIAL SERVICES.

 

FOR THE REST OF THE YEAR, THE GLOBAL ECONOMY IS EXPECTED TO RECOVER AT A MODEST PACE. SIGNS OF A SLOWDOWN CAN ALREADY BE OBSERVED IN THE KEY EXTERNAL ECONOMIES. IN PARTICULAR, US GROWTH HAS SLOWED IN 2Q 2010, DUE TO A SMALLER RISE IN PRIVATE CONSUMPTION EXPENDITURE AND A LOWER BOOST FROM INVENTORY RESTOCKING EFFORTS. HOUSEHOLD SPENDING IS LIKELY TO BE DEPRESSED FOR SOME TIME AS THE LABOUR AND HOUSING MARKETS REMAIN WEAK. FORWARD-LOOKING INDICATORS SUCH AS CONSUMER AND BUSINESS CONFIDENCE INDICES HAVE ALSO DECLINED. IN THE EU, MARKET CONCERNS HAVE BEEN LIFTED TO SOME EXTENT BY THE POSITIVE RESULTS OF STRESS TESTS ON COMMERCIAL BANKS AND SECURED DEBT FINANCING IN GREECE. HOWEVER, THE SITUATION IN SEVERAL SOUTHERN EUROPEAN ECONOMIES REMAIN WEAK, AND ON THE WHOLE, FINAL DEMAND IN THE EU IS EXPECTED TO BE SLUGGISH. THE SLOWDOWN IN EXTERNAL DEMAND HAS ALSO AFFECTED ASIAN ECONOMIES. SPECIFICALLY, CHINA REPORTED A SLOWER PACE OF GROWTH IN THE SECOND QUARTER AS COMPARED TO THE PREVIOUS QUARTER.

 

IN LINE WITH THESE DEVELOPMENTS, THE STRONG GROWTH MOMENTUM IN SINGAPORE IN THE FIRST HALF OF THE YEAR MAY EASE IN THE LATTER HALF OF THIS YEAR, ALTHOUGH GROWTH RATES WILL REMAIN HEALTHY. INDUSTRY SPECIFIC FACTORS SUCH AS ANTICIPATED PLANT MAINTENANCE SHUTDOWNS IN THE BIOMEDICAL MANUFACTURING CLUSTER MAY ALSO DAMPEN OVERALL GROWTH.

 

TAKING THESE FACTORS INTO CONSIDERATION, THE MINISTRY OF TRADE AND INDUSTRY EXPECTS THE SINGAPORE ECONOMY TO GROW BY 13.0% TO 15.0% IN 2010.

 

IN THE FINANCIAL SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 70% OF FIRMS

FORECASTS FAVOURABLE BUSINESS CONDITIONS FOR THE MONTHS ENDING SEP 2010. IN PARTICULAR, BANKS AND FINANCE COMPANIES, STOCK, SHARE AND BOND BROKERS, FUND MANAGERS AND INSURANCE COMPANIES FORECAST A BETTER BUSINESS CLIMATE IN THE COMING MONTHS.

 

IN THE FINANCIAL SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 37% OF FIRMS

FORECASTS FAVOURABLE BUSINESS SENTIMENTS FOR THE MONTHS ENDING DEC 2010. IN PARTICULAR, BANKS AND FINANCE COMPANIES, FUND MANAGERS AND INSURANCE COMPANIES FORECAST A BETTER BUSINESS CLIMATE IN THE COMING MONTHS.

 

IN THE REAL ESTATE INDUSTRY, AN OVERALL NET WEIGHTED BALANCE OF 27% OF FIRMS PREDICTS BETTER BUSINESS CONDITIONS AHEAD.

 

OVERALL, THE SERVICES INDUSTRY ARE UPBEAT BUSINESS OUTLOOK FOR THE MONTHS ENDING DEC 2010. A OVERALL NET WEIGHTED BALANCE OF 33% OF FIRM FORECASTS BETTER BUSINESS CONDITIONS. THIS MAGNITUDE IS SMALLER THAN THE POSITIVE NET WEIGHTED BALANCE OF 36% REGISTERED FOR THE MONTHS ENDING SEP 2010. THE POSITIVE OUTLOOK IS ALSO IN CONTRAST TO THE SLIGHT NEGATIVE NET WEIGHTED BALANCE OF 3% RECORDED FOR THE MONTHS ENDING DEC 2009.

 

A NET WEIGHTED BALANCE OF 37% OF WHOLESALERS EXPECT POSITIVE BUSINESS SENTIMENTS FOR THE PERIOD ENDING DEC 2010. IN PARTICULAR, THOSE DEALING WITH

FOOD AND BEVERAGES, COSMETICS AND TOILETRIES, INDUSTRIAL MACHINERY AND EQUIPMENT, ELECTRONIC COMPONENTS, COMPUTERS AND ACCESSORIES, AND MOTOR VEHICLES.

 

RETAILERS FORECAST FAVOURABLE BUSINESS CONDITIONS FOR THE COMING MONTHS. A NET WEIGHTED BALANCE OF 29% OF RETAILERS FORECAST POSITIVE FAVOURABLE BUSINESS PROSPECTS FOR THE PERIOD ENDING DEC 2010. THIS APPLIES TO DEPARTMENT STORES, RETAILERS OF WEARING APPAREL AND FOOTWEAR, JEWELLERY AND WATCHES.

 

IN THE TRANSPORT AND STORAGE INDUSTRY, A NET WEIGHTED BALANCE OF 24% OF FIRMS FORECAST A BRISK BUSINESS CLIMATE FOR THE MONTHS ENDING DEC 2010. FIRMS IN SHIPPING LINES, PROVIDING AIR TRANSPORT SERVICES AND SUPPORTING SERVICES TO AIR TRANSPORT ARE OPTIMISTIC ABOUT BUSINESS CONDITIONS IN THE MONTHS AHEAD.

 

HOTELIERS ANTICIPATE BETTER BUSINESS CONDITIONS FOR THE PERIOD ENDING DEC 2010. SIMILARLY, A NET WEIGHTED BALANCE OF 47% OF FIRMS IN THE CATERING TRADE INDUSTRY FORECASTS POSITIVE OUTLOOK AHEAD. CONVENTIONAL RESTAURANTS, FAST FOOD RESTAURANTS AND FOOD CATERERS ARE AMONG THOSE THAT FORECAST HIGHER BUSINESS VOLUME DURING THAT PERIOD.

 

IN THE INFORMATION AND COMMUNICATIONS INDUSTRY, A NET WEIGHTED BALANCE OF 38% OF FIRMS PREDICTS BETTER BUSINESS CONDITIONS IN THE COMING MONTHS. IN PARTICULAR, FIRMS ENGAGED IN PUBLISHING, MOTION PICTURE AND VIDEO, RADIO AND TELEVISION, SOUND RECORDING AND BROADCASTING AND TELECOMMUNICATIONS ACTIVITIES FORECASTS BETTER BUSINESS CLIMATE IN THE MONTHS AHEAD.

 

IN THE BUSINESS SERVICES INDUSTRY, A NET WEIGHTED BALANCE OF 25% OF FIRMS PREDICTS POSITIVE SENTIMENTS. THESE INCLUDE FIRMS ENGAGED IN RENTING OF

CONSTRUCTION EQUIPMENT AND LEGAL ACTIVITIES AS WELL AS HEAD AND REGIONAL OFFICES, LABOUR RECRUITMENT FIRMS AND TRAVEL AGENCIES.

 

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.44.34

UK Pound

1

Rs.73.70

Euro

1

Rs.65.75

 

 

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%)

 

 

 

 

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