MIRA INFORM REPORT

 

 

Report Date :           

25.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SYMAROM (ASIA) PTE. LTD.

 

 

Formerly Known As :

SIMAROM PTE. LTD.

 

 

Registered Office :

8A Admiralty Street #07-12/14 Food Xchange @ Admiralty Singapore 757437

 

 

Country :

Singapore

 

 

Date of Incorporation :

12.03.2003

 

 

Com. Reg. No.:

200302245R

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Manufacture and sales of food additives and flavoring products

 

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:

Symarom (Asia) Pte. Ltd.

Former:

Simarom Pte. Ltd.

Supplied Name:

Symarom Asia Pte Ltd.

Trading Address:

8A Admiralty Street #07-12/14 Food Xchange @ Admiralty Singapore 757437

Supplied Address:

8A, Admiralty Street Foodxchange @ Admiralty 07-12/13/14 Singapore 757937

Telephone Number:

+65-6570-0085/0078

Fax Number:

+65-6570-0355

E-mail:

enquiry@symarom.com

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:

Symarom (Asia) Pte. Ltd.

Registered Address:

8A Admiralty Street #07-12/14 Food Xchange @ Admiralty Singapore 757437

Date of Registration::

2003-3-12

Registered Number:

200302245R

Country of Incorporation:

Singapore

Registered Capital:

SGD 875,000 (USD 693,263)

(As of 2011.10, 1 SGD = 0.7923 USD)

Paid-up Capital:

SGD 875,000 (USD 693,263) = 875,000 Shares@1 SGD

Legal Form:

Limited Exempt Private Company

Principal Activities:

Manufacture and sales of food additives and flavoring products

Staff:

20-30 Employees

Status:

Live Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2011-1-28

 

 

History

 

Subject was incorporated on 2003-3-12 with registered number 200302245R as Limited Exempt Private Company in Singapore.

 

Change of Name:

Date

Change

2003-3-12

SIMAROM PTE. LTD.

2003-9-25

SYMAROM (ASIA) PTE. LTD.

 

 

Shareholders

 

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

KYI SOE

83,125

9.5%

LU RUI HUA

255,500

29.2%

LAO XIAOMAN

185,500

21.2%

LIM LAM SENG

26,250

3%

SEAH CHEE LAI

324,625

37.1%

Total

875,000

100%

 

Major Shareholder Information:

1

Name:

Kyi Soe

ID Number:

827042

Address:

655 Mahabandoola Road Latha Township

2

Name:

Lu Rui Hua

ID Number:

G07482116

Address:

Room 2704, Block 5, Hengbao Plaza, 143 Bao Hua Road Guangzhou City, P.R. China

3

Name:

Lao Xiaoman

ID Number:

R161914(3)

Address:

Room 202, 17# Qing Cai Gang, Jian She Liu Road, Guangzhou

4

Name:

Lim Lam Seng

ID Number:

S0301092I

Address:

33 West Coast Terrace Hong Leong Garden Singapore 127242

5

Name:

Seah Chee Lai

ID Number:

S1474117H

Address:

8A Admiralty Street #07-14 food xchange @ admiralty singapore 757437

 

 

Subsidiaries & Branches

 

It is introduced that subject has an office in Guangzhou, Guangdong, China, while the details are not disclosed.

 

 

Management Information

 

Core Management

Detailed Information of Management:

1

Name:

Lao Xiaoman

Position:

Director

ID Number:

R161914(3)

Address:

Room 202, 17# Qing Cai Gang, Jian She Liu Road, Guangzhou

Nationality:

Chinese

Date of Appointment:

2005-2-25

2

Name:

Seah Chee Lai

Position:

Director

ID Number:

S1474117H

Address:

8A Admiralty Street #07-14 Food Xchange @ Admiralty Singapore 757437

Nationality:

Singapore Citizen

Date of Appointment:

2003-9-4

3

Name:

Kang Lyna

Position:

Secretary

ID Number:

S2639576C

Address:

851 Yishun Street 81 #11-56 Singapore 760851

Nationality:

Singapore Citizen

Date of Appointment:

2004-8-25

 

Personnel Structure

Total Employees

20-30 employees

 

 

Operation Information

 

Offices & Factories

 

Office

Address:

8A Admiralty Street #07-12/14 Food Xchange @ Admiralty Singapore 757437

Production Information

l         Subject is a manufacturer of additive, flavor for food and cigarette

Purchase Information

l         Subject purchases both at home and abroad.

l         It is introduced that subject imports from USA, Europe, Israel, etc

Sales Information

l         Subject is engaged in sales of additive, flavor for food and cigarette.

l         Subject has different tastes for customers’ needs

l         Subject’s products are both sold in domestic and overseas market and it is introduce that subject has an office in Guangzhou, Guangdong, China to do the distribution in China.

l         Subject’s major customers are food and cigarette manufacturers, etc

 

 

Settlements

 

Purchase

Domestic Markets

Products

Payment Terms

Proportion

Raw materials, etc

COD, etc

100%

 

Overseas Markets

Products

Payment Terms

Proportion

Raw materials, etc

CBD, etc

100%

 

 

Sales

 

Domestic Markets

Product

Sales Terms

Proportion

Additive, Flavor, Etc

COD, etc

100%

 

Overseas Markets

Product

Sales Terms

Proportion

Additive, Flavor, Etc

CBD, etc

100%

Notes: Subject’s settlement currency for export is generally USD.

 

 

Financial Information

 

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Singapore, subject did not submit the latest information to the local registry, and the only source from which we can obtain the information is the subject itself.

 

Subject’s staff declined to disclose its financial information citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

 

 

Bankers

 

Bank Charges

Charge 1

Charge Number:

C200902792

Date of Registration:

2009-5-14

Name:

DBS Bank Ltd.

Amount Secured:

All Monies

Charge 2

Charge Number:

C201000836

Date of Registration:

2010-1-26

Name:

DBS Bank Ltd.

Amount Secured:

All Monies

 

 

Auditors

 

Name:

Y C TAN & CO

 

 

Interview Details

 

Name:

Christine

Department:

Sales department

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.87

UK Pound

1

Rs.79.73

Euro

1

Rs.69.52

 

 

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.