MIRA INFORM REPORT
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Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
NUFORM SYSTEM ASIA PTE. LTD. |
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Registered Office : |
8 Changi South Lane #03-01
Goodrich Building Singapore 486113 |
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Country : |
Singapore |
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Date of Incorporation : |
18.10.2010 |
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Com. Reg. No.: |
201022179N |
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Legal Form : |
Limited Private Company |
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Line of Business : |
Trading of wood building materials, etc |
RATING & COMMENTS
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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 |
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Status : |
Poor |
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Payment
Behaviour : |
Unknown |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
|
Company Name: |
Nuform System Asia Pte. Ltd. |
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Supplied Name: |
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Supplied
Address: |
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Notes: Subject’s exact name and address are as
above.
Credit
Summary
|
Credit Opinion: |
Since the subject is a newly established company, the future
development remains to be seen. At this stage credits require securities. |
Company
Identification Details
|
Registered Name: |
|
|
Registered
Address: |
8 Changi South Lane #03-01 Goodrich Building Singapore 486113 |
|
Date of
Registration:: |
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Registered
Number: |
201022179N |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 3,200,000
(USD 2,535,360) (As of 2011.10,
1 SGD = 0.7923 USD) |
|
Paid-up Capital: |
SGD 3,200,000
(USD 2,535,360) = 3,200,000 Shares@1 SGD |
|
Legal Form: |
Limited Private
Company |
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Principal
Activities: |
Trading of wood
building materials, etc |
|
N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
Notes: Subject did not
introduce its staff number; from other source we can not obtain the relevant information.
History
Subject was
incorporated on
Shareholders
|
Subscription Amount |
Proportion of Investment (%) |
|
|
Ho Lee Group Pte
Ltd |
800,000 |
25% |
|
Ng Teck Huat |
800,000 |
25% |
|
Lim Ewe Ghee |
800,000 |
25% |
|
Lim Kang Hong |
800,000 |
25% |
|
Total |
3,200,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Ho Lee Group Pte
Ltd |
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ID Number: |
199600831K |
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Address: |
200 Jalan Sultan
#04-25 Textile Centre Singapore 199018 |
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2 |
|
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Name: |
Ng Teck Huat |
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ID Number: |
S1556758I |
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Address: |
27 Jalan Haji
Salam Singapore 468811 |
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3 |
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Name: |
Lim Ewe Ghee |
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ID Number: |
S2555431J |
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Address: |
17 Borthwick Drive
Serangoon Garden Estate Singapore 559520 |
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4 |
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Name: |
Lim Kang Hong |
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ID Number: |
S |
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Address: |
28 Siglap Avenue
Frankel Estate Singapore 456304 |
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
Detailed
Information of Management:
|
1 |
|
|
Name: |
Ng Teck Huat |
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Position: |
Director |
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ID Number: |
S1556758I |
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Address: |
27 Jalan Haji
Salam Singapore 468811 |
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Nationality: |
Singapore
Citizen |
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Date of
Appointment: |
|
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2 |
|
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Name: |
Lim Ewe Ghee |
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Position: |
Director |
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ID Number: |
S2555431J |
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Address: |
17 Borthwick
Drive Serangoon Garden Estate Singapore 559520 |
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Nationality: |
Singapore P.R. |
|
Date of
Appointment: |
|
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3 |
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Name: |
Neo Poh Sit |
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Position: |
Secretary |
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ID Number: |
S |
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Address: |
358 Hougang
Avenue 5 |
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Nationality: |
Singapore
Citizen |
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Date of
Appointment: |
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Operation
Information
Offices
& Factories
|
|
Office |
|
Address: |
Production
Information
l
Subject is a trader of wood building materials
without any production activities
Purchase
Information
l
Subject purchases mainly abroad from Canada, etc
Sales
Information
l
Subject is engaged in sales of wood building
materials
l
Subject’s products are mainly sold in domestic
market in Singapore.
Settlements
Purchase
Domestic Markets
Subject has little
domestic purchase
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
CBD, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Building
materials |
CBD, etc |
100% |
|
Product |
Sales Terms |
Proportion |
|
Building
materials |
CBD, etc |
100% |
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
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Charge Number: |
C201011691 |
|
Date of
Registration: |
|
|
Name: |
DBS Bank Ltd. |
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Amount Secured: |
All Monies |
Interview
Details
|
Name: |
N/A |
Notes: The relevant staff decline to disclose his
name.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
UK Pound |
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
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 |
|
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.