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Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
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Name : |
WAJILAM EXPORTS ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
26.04.1984 |
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Com. Reg. No.: |
198401487E |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
General Wholesale Trade (Including General Importers And Exporters) |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly
developed and successful free-market economy. It enjoys a remarkably open and
corruption-free environment, stable prices, and a per capita GDP higher than
that of most developed countries. The economy depends heavily on exports,
particularly in consumer electronics, information technology products,
pharmaceuticals, and on a growing financial services sector. Real GDP growth
averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a
result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in
2011, on the strength of renewed exports. Over the longer term, the government
hopes to establish a new growth path that focuses on raising productivity,
which has sunk to a compound annual growth rate of just 1.8% in the last
decade. Singapore has attracted major investments in pharmaceuticals and
medical technology production and will continue efforts to establish Singapore
as Southeast Asia's financial and high-tech hub.
Source : CIA
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Company Name: |
Wajilam Exports
(Singapore) Private Limited |
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Supplied Name: |
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Supplied
Address: |
63 Robinson Road, #05-20 Afro Asia Building, Singapore 068894 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as
above.
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Credit Opinion: |
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Registered Name: |
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Registered
Address: |
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Date of
Registration:: |
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Registered
Number: |
198401487E |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 5,865,200
(USD 4,805,358) (As of 2012.09, 1
SGD = 0.8193 USD) |
|
Paid-up Capital: |
SGD 5,865,200
(USD 4,805,358) = 5,865,200 Shares@1 SGD |
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Legal Form: |
Limited Exempt
Private Company |
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Principal
Activities: |
46900--General
Wholesale Trade (Including General Importers And Exporters) 46100--Wholesale
On A Fee Or Contract Basis (Eg Commission Agents) |
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N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
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Date of Last
Annual Return: |
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Notes: Subject declined to
disclose the staff number, and from other source we can not obtain the relevant
information, either.
Subject was incorporated on
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Subscription
Amount |
Proportion of
Investment (%) |
|
|
1,066,400 |
18% |
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|
Tarun Chamanlal
Mehta |
2,666,000 |
45% |
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Smita Tarun
Mehta |
2,132,800 |
36% |
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Total |
5,865,200 |
-- |
Major Shareholder
Information:
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1 |
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Name: |
Yash Mehta |
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ID Number: |
F |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
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2 |
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Name: |
Tarun Chamanlal Mehta |
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ID Number: |
S2591001Z |
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Address: |
99 Meyer Road #24-01 Sovereign, The |
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3 |
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Name: |
Smita Tarun Mehta |
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ID Number: |
S2591002H |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
Related Offices
(Sourcing Offices)
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1 |
|
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Name |
Myanmar (Burma) |
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Address |
B-12 River View Housing Project Ahlone Township
Yangon Myanmar |
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Tel: |
+95-1-212290 / 705502 |
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Fax: |
+95-1-228390 |
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2 |
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Name |
Ghana |
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Address |
C-20 Lagos Town West Tanokrom Takoradi Ghana |
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Tel: / Fax: |
+233 31 2020663 |
Detailed
Information of Management:
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1 |
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Name: |
Tarun Chamanlal Mehta |
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Position: |
Director |
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ID Number: |
S2591001Z |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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2 |
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Name: |
Tarun Chamanlal Mehta |
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Position: |
Secretary |
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ID Number: |
S2591001Z |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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3 |
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Name: |
Tarun Chamanlal Mehta |
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Position: |
Managing Director |
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ID Number: |
S2591001Z |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
|
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4 |
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Name: |
Smita Tarun Mehta |
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Position: |
Director |
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ID Number: |
S2591002H |
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Address: |
99 Meyer Road #24-01 Sovereign, The Singapore
437920 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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Offices
& Factories
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|
Office |
|
Address: |
Production
Information
l
Subject is a trader of timber logs without any
production activities itself.
Purchase Information
l
Subject purchases timber logs mainly from foreign
countries including Ghana, Burma, India, South Africa and Guyana, etc
l
It is introduced that subject has offices in Burma
and Ghana for sourcing.
Sales
Information
l
Subject is engaged in trading of timber logs
including plantation teak logs, Burmese hardwood logs, etc
l
Subject’s products are both sold in domestic market
and other South East Asian Countries.
l
Subject’s major customers are project contractors
and woodwork processors, etc
Purchase
Domestic Markets
Subject has little
domestic purchase
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Timber logs, etc |
CBD, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Timber logs, etc |
CBD, etc |
100% |
Overseas Markets
|
Product |
Sales Terms |
Proportion |
|
Timber logs, etc |
CBD, etc |
100% |
Notes: The detailed settlement is to be negotiated.
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|
|
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28,403,677.00 |
15,647,676 |
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Total Current Assets |
25,966,696 |
13,249,553 |
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Total Non-Current
Assets f.k.a. [Fixed And Others] |
2,436,981 |
2,398,123 |
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Total Liabilities |
24,537,490 |
12,024,201 |
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Total Current
Liabilities |
23,522,067 |
11,046,426 |
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Total Non-Current
Liabilities |
1,015,423 |
977,775 |
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Total Equity f.k.a
[Shareholder's Funds] |
3,866,187 |
3,623,475 |
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Paid-Up Capital |
N.A. |
N.A. |
|
Share Capital |
3,446,974 |
3,446,974 |
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Other Reserves, Total
f.k.a. [Reserves] |
90,161 |
0 |
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Retained
Earnings/(Accumulated Loss) |
329,052 |
176,501 |
Unit: USD
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~ |
~ |
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Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
86,157,740.00 |
75,656,980.00 |
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Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
196,281.00 |
62,918.00 |
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Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
152,551.00 |
47,018.00 |
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Net Income/(Loss) From Extraordinary And Non-Operating
Items |
N.A. |
N.A. |
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Profit/(Loss) After Tax and Extraordinary Items |
N.A. |
N.A. |
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~ |
~ |
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Earning Capacity |
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Rate of Net Profit on Sales (%) |
0.18 |
0.06 |
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Return of Investment (%) |
0.54 |
0.30 |
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Return of Shareholder's Funds (%) |
3.95 |
1.30 |
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Total Assets Turnover (%) |
3.03 |
4.84 |
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Financial Stability |
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|
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Current/Working Capital Ratio (%) |
1.10 |
1.20 |
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Proprietary Ratio (%) |
13.61 |
23.16 |
|
Total Debt to Equity Ratio (%) |
86.39 |
76.84 |
In Singapore, Limited Exempt Private Companies are not obligated to submit their
financial statements to the local registry. We did not find the latest
financials of subject from the local registry, the subject also declined to
disclose such information due to the confidentiality reason.
The information above is what we can obtain from all of our avaiable
sources.
Subject declined to disclose its bank details, from other source we can not
obtain the relevant information, either.
|
Name: |
Prudential Public Accounting Corporation |
|
Position: |
Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.52 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.