MIRA INFORM REPORT

 

 

Report Date :           

08.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SUNLIGHT MERCANTILE PTE. LTD.

 

 

Registered Office :

300 Beach Road, #13-01, Concourse, The Singapore 199555

 

 

Country :

Singapore

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

26.12.1984

 

 

Com. Reg. No.:

198404381N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import, Export, Wholesale of logs, timber, plywood and related wood products, petroleum products and coal

 

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

 

Maximum Credit Limit :

USD 20,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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:

Sunlight Mercantile Pte. Ltd.

Supplied Name:

Sun Mercantile Pte Ltd

Trading Address:

300 Beach Road, #13-01, Concourse, The Singapore 199555

Supplied Address:

300 Beach Road 13-01 The Concourse, Singapore 199555

Telephone Number:

+65-67226666

Fax Number:

+65-67226677

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 20,000

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Sunlight Mercantile Pte. Ltd.

Registered Address:

300 Beach Road, #13-01, Concourse, The Singapore 199555

Date of Registration::

1984-12-26

Registered Number:

198404381N

Country of Incorporation:

Singapore

Registered Capital:

SGD 3,300,000.00 (USD 2,537,370.00)

(As of 2011.11, 1 SGD = 0.7689 USD)

Paid-up Capital:

SGD 3,300,000.00 (USD 2,537,370.00) = 3,300,000 Shares@1 SGD

Legal Form:

Private Limited Liability Company

Principal Activities:

Import, export, wholesale of logs, timber, plywood and related wood products, petroleum products and coal

Staff:

About 25 Employees

Status:

Live Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2011-03-02

 

 

History

 

Subject was incorporated on 1984-12-26 with registered number 198404381N as Private Limited Liability Company in Singapore.

 

 

Shareholders

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

Zulaihama Binte Meeramohiadeen Syed Thamby Jaffar

970,203.00

29.4%

Fazal Currim Bin Mansoor Sheriff

2,329,797.00

70.6%

Total

3,300,000.00

100%

 

Major Shareholder Information:

1

Name:

Zulaihama Binte Meeramohiadeen Syed Thamby Jaffar

ID Number:

S1564167C

Address:

99 Meyer Road #15-03 Sovereign, The Singapore 437920

2

Name:

Fazal Currim Bin Mansoor Sheriff

ID Number:

S2170011H

Address:

99 Meyer Road #15-03 Sovereign, The Singapore 437920

 

 

Subsidiaries & Branches

 

Branch:

1

Address:

In Malaysia (Details unknown)

2

Address:

In India (Details unknown)

3

Address:

In Middle East (Details unknown)

 

 

Management Information

 

Core Management

Detailed Information of Management:

1

Name:

Abdul Rab Bin Abdul Aziz

Position:

Director

ID Number:

S1288096J

Address:

104 Whampoa Drive, #06-56, Singapore 323104

Nationality:

Singapore Citizen

Date of Appointment:

2002-10-15

2

Name:

Fazal Currim Bin Mansoor Sheriff

Position:

Director

ID Number:

S2170011H

Address:

104 Whampoa Drive, #06-56, Singapore 323104

Nationality:

S2170011H

Date of Appointment:

1984-12-26

3

Name:

Fazal Currim Bin Mansoor Sheriff

Position:

Managing Director

ID Number:

S2170011H

Address:

104 Whampoa Drive, #06-56, Singapore 323104

Nationality:

Singapore Citizen

Date of Appointment:

1985-01-17

4

Name:

Omar Currim S/O Fazal Currim

Position:

Director

ID Number:

S8121193J

Address:

104 Whampoa Drive, #06-56, Singapore 323104

Nationality:

Singapore Citizen

Date of Appointment:

2008-01-31

5

Name:

Zulaihama Binte Meeramohiadeen Syed Thamby Jaffar

Position:

Secretary

ID Number:

S1564167C

Address:

99 Meyer Road, #15-03, Sovereign, The Singapore 437920

Nationality:

Singapore Citizen

 

 

Operation Information

 

Purchase

l         Subject imports logs, timber, plywood and related wood products from foreign countries.

l         Subject has a 100% proportion of import.

 

Products

Original area

Logs, timber, plywood and related wood products, etc.

Malaysia, Indonesia, India, etc.

 

Sales Information

l         Subject is engaged in the sales of logs, timber, plywood and related wood products, etc.

l         Subject has both domestic and foreign markets.

l         Subject exports to Middle East, India, and some other Asian countries.

 

 

Settlements

 

Purchase

Domestic Markets

Notes: Subject seldom purchases from domestic markets.

 

Overseas Markets

Products

Payment Terms

Proportion

Logs, timber, plywood and related wood products, etc.

CBD, etc.

100%

 

Sales

Domestic Markets

Product

Sales Terms

Proportion

Logs, timber, plywood and related wood products, etc.

CBD, etc.

100%

 

Overseas Markets

Product

Sales Terms

Proportion

Logs, timber, plywood and related wood products, etc.

CBD, etc.

100%

 

 

Profit/Loss Account

Unit: SGD

Date

2007

 

 

Revenue f.k.a [Sales Turnover And

Other Operating Revenues]

144,065,735.00

 

 

Profit/(Loss) before Tax from

Continuing Operations f.k.a

[Profit/(Loss) before tax]

1,346,234.00

 

 

Profit/(Loss) after Tax from

Continuing Operations f.k.a

[Profit/(Loss) After Tax]

1,195,076.00

 

 

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

N.A.

 

 

Profit/(Loss) After Tax and

Extraordinary Items

N.A.

 

 

Total Assets

30,532,531.00

 

 

Total Current Assets

30,339,981.00

 

 

Total Non-Current Assets f.k.a.

[Fixed And Others]

192,550.00

 

 

Total Liabilities

22,405,038.00

 

 

Total Current Liabilities

22,405,038.00

 

 

Total Non-Current Liabilities

0.00

 

 

Total Equity f.k.a [Shareholder's

Funds]

8,127,493.00

 

 

Paid-Up Capital

N.A.

 

 

Share Capital

2,130,000.00

 

 

Other Reserves, Total f.k.a.

[Reserves]

5,997,493.00

 

 

Retained Earnings/(Accumulated

Loss)

0.00

 

 

 

 

Financial Ratio

 

Date

2007

 

 

Rate of Net Profit on Sales (%)

0.83

 

 

Return of Investment (%)

3.91

 

 

Return of Shareholder's Funds (%)

14.70

 

 

Total Assets Turnover (%)

4.72

 

 

Current/Working Capital Ratio (%)

1.35

 

 

Proprietary Ratio (%)

26.62

 

 

Total Debt to Equity Ratio (%)

73.38

 

 

 

Auditors

 

Name:

Prudential Public Accounting Corporation

 

 

Public

 

Charges

Charge 1

Charge Number:

199805176

Date of Registration:

1998-10-9

Name:

Indian Bank

Amount Secured:

USD 60,000.00

Charge 2

Charge Number:

200204009

Date of Registration:

2002-7-1

Name:

Indian Bank

Amount Secured:

SGD 560,135.00

Charge 3

Charge Number:

C200401023

Date of Registration:

2004-3-4

Name:

Dbs Bank Ltd.

Amount Secured:

All Monies

Charge 4

Charge Number:

C200501750

Date of Registration:

2005-03-28

Name:

Indian Bank

Amount Secured:

All Monies

Charge 5

Charge Number:

C200606472

Date of Registration:

2006-09-27

Name:

Indian Bank

Amount Secured:

All Monies

Charge 6

Charge Number:

C200606473

Date of Registration:

2006-09-27

Name:

Indian Bank

Amount Secured:

All Monies

Charge 7

Charge Number:

C200705457

Date of Registration:

2007-07-12

Name:

Oversea-Chinese Banking Corporation Limited

Amount Secured:

All Monies

Charge 8

Charge Number:

C200705458

Date of Registration:

2007-07-12

Name:

Oversea-Chinese Banking Corporation Limited

Amount Secured:

All Monies

Charge 9

Charge Number:

C200708311

Date of Registration:

2007-10-3

Name:

Indian Bank

Amount Secured:

All Monies

 

 

Interview Details

 

Name:

Ms. Zhang

E-mail:

timber@sunlight.com.sg   

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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.