|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
LINKCRAFT DISTRIBUTION (S) PTE
LTD |
|
|
|
|
Registered Office : |
102f Pasir Panjang Road, 05-03 Citilink Warehouse Complex,
118530 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
08.07.1997 |
|
|
|
|
Com. Reg. No.: |
199704716-N |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Information Technology Products |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Moderate |
|
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
SC -
Subject Company (the company enquired by you)
N/A -
Not Applicable
|
REGISTRATION NO. |
: |
199704716-N |
||||
|
COMPANY NAME |
: |
LINKCRAFT
DISTRIBUTION (S) PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
08/07/1997 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
102F PASIR PANJANG ROAD, 05-03
CITILINK WAREHOUSE COMPLEX, 118530, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
102F PASIR PANJANG ROAD,
#05-03 CITILINK WAREHOUSE COMPLEX,, 118530, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62709390 |
||||
|
FAX.NO. |
: |
65-62706610 |
||||
|
WEB SITE |
: |
www.linkcraft.com |
||||
|
CONTACT PERSON |
: |
SHIRLINE ( STAFF ) |
||||
|
|
|
|
||||
|
|
|
|
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF INFORMATION
TECHNOLOGY PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
200,000.00 ORDINARY SHARE, OF
A VALUE OF SGD 200,000.00 |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
200,000.00 ORDINARY SHARE, OF
A VALUE OF SGD 200,000.00 |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
|
|
|
||||
The SC is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, suing or be sued by other companies. The SC is governed by the Companies Act and must file in its annual return. The SC need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the SC is able to meet all its obligations as and when they fall due. Although the SC is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a / as an) trading of information technology products.
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
LEE HENG KOK + |
143 MEI LING STREET 09-147,
140143, SINGAPORE. |
S1704255F |
100,000.00 |
50.00 |
|
KOH CHUNG HUNG + |
261B SENGKANG EAST WAY 13-412,
542261, SINGAPORE. |
S1647780Z |
100,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
200,000.00 |
100.00 |
|
|
|
|
============ |
===== |
DIRECTOR
1
|
Name Of Subject |
: |
LEE HENG KOK |
|
Address |
: |
143 MEI LING STREET 09-147,
140143, SINGAPORE. |
|
IC / PP No |
: |
S1704255F |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/07/1997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name Of Subject |
: |
KOH CHUNG HUNG |
|
Address |
: |
261B SENGKANG EAST WAY 13-412,
542261, SINGAPORE. |
|
IC / PP No |
: |
S1647780Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
29/09/1997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
SHIRLINE |
|
|
Position |
: |
STAFF |
|
|
|
|
|
|
Auditor |
: |
YONG FAN KIONG & COMPANY |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
WONG SUI HENG |
|
|
IC / PP No |
: |
S2009554G |
|
|
|
|
|
|
|
Address |
: |
346 ANG MO KIO AVENUE 3, 07-2290,
560346, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OVERSEA-CHINESE
BANKING CORPORATION LTD |
|
|
|
|
|
The SC enjoys normal banking routine
with above mentioned banker(s). The SC has bank charges with above mentioned
banker(s).
ENCUMBRANCE 1
|
Date
of Creation |
: |
02/12/2005 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200507481 In The Register of Charges |
||||
ENCUMBRANCE 2
|
Date of Creation |
: |
08/02/2007 |
||
|
Description Of Charge |
: |
|
||
|
Amount Secured |
: |
N/A |
||
|
Description Of Property
Affected |
: |
|
||
|
Name & Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form 40 Dated |
||||
|
Registered and Numbered
C200701127 In The Register of Charges |
||||
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES,TELEGRAPHIC TRANSFER
(TT) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of information
technology products.
The SC sells computer products and its accessories.
The SC however refused to disclose further information on its operation.
Latest fresh investigations carried out on the SC indicated
that :
|
Telephone Number Provided By
Client |
: |
65 62709390 |
|
Current Telephone Number |
: |
65-62709390 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
102F PASIR PANJANG ROAD,
#05-03 CITILINK WAREHOUSE COMPLEX, SINGAPORE 118530 |
|
Current Address |
: |
102F PASIR PANJANG ROAD, #05-03
CITILINK WAREHOUSE COMPLEX,, 118530, SINGAPORE. |
|
Match |
: |
N/A |
|
|
|
|
Other
Investigations
On 11th December 2012 we contacted one of the staff from the SC and she
provided some information on the SC.
The SC refused to disclose its number of employees.
The SC is a private exempt
company which does not need to file in its accounts with the Registrar of
Companies for the information of the public. Therefore, we are not able to
comment on the SC's financial performance.
Overall
financial condition of the SC : N/A
|
Major
Economic Indicators : |
2006 |
2007 |
2008 |
2009 |
2010 |
|
|
|
|
|
|
|
|
Population (Million) |
4.40 |
4.58 |
4.84 |
4.98 |
5.08 |
|
Gross Domestic Products ( % ) |
8.7 |
8.8 |
1.5 |
<0.8> |
14.5 |
|
Consumer Price Index |
1.0 |
2.1 |
6.6 |
0.6 |
2.8 |
|
Total Imports (Million) |
378,924.1 |
395,979.7 |
450,892.6 |
356,299.3 |
423,221.8 |
|
Total Exports (Million) |
431,559.2 |
450,627.7 |
476,762.2 |
391,118.1 |
478,840.7 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.7 |
2.3 |
2.2 |
3.2 |
2.2 |
|
Tourist Arrival (Million) |
9.75 |
10.28 |
10.12 |
9.68 |
11.64 |
|
Hotel Occupancy Rate (%) |
85.2 |
87.0 |
81.0 |
75.8 |
85.6 |
|
Cellular Phone Subscriber
(Million) |
1.05 |
1.22 |
1.31 |
1.37 |
1.43 |
|
|
|
|
|
|
|
|
Registration of New Companies
(No.) |
21,495 |
25,903 |
25,327 |
26,414 |
29,798 |
|
Registration of New Companies
(%) |
10.2 |
20.5 |
<2.2> |
4.3 |
12.8 |
|
Liquidation of Companies (No.) |
8,980 |
9,226 |
10,493 |
22,393 |
15,126 |
|
Liquidation of Companies (%) |
28.1 |
2.7 |
13.7 |
113.4 |
<32.5> |
|
|
|
|
|
|
|
|
Registration of New Businesses
(No.) |
24,219 |
24,762 |
24,850 |
26,876 |
23,978 |
|
Registration of New Businesses
(%) |
3.17 |
2.24 |
0.36 |
8.15 |
<10.78> |
|
Liquidation of Businesses
(No.) |
26,843 |
21,322 |
21,150 |
23,552 |
24,211 |
|
Liquidation of Businesses (%) |
<52.3> |
<20.6> |
<0.8> |
11.4 |
2.8 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,983 |
2,767 |
2,326 |
2,058 |
1,537 |
|
Bankruptcy Orders (%) |
15.8 |
<7.2> |
<15.9> |
<11.5> |
<25.3> |
|
Bankruptcy Discharges (No.) |
1,634 |
1,626 |
1,500 |
3,056 |
2,252 |
|
Bankruptcy Discharges (%) |
<2.9> |
<0.5> |
<7.7> |
103.7 |
<26.3> |
|
|
|
|
|
|
|
|
INDUSTRIES
( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.91 |
5.26 |
<0.32> |
3.25 |
<0.48> |
|
Fish Supply & Wholesale |
1.33 |
<3.91> |
<6.31> |
<1.93> |
3.60 |
|
|
|
|
|
|
|
|
Manufacturing
* |
94.4 |
100.0 |
95.8 |
91.8 |
119.1 |
|
Food, Beverages & Tobacco |
89.9 |
100.0 |
107.7 |
102.7 |
109.5 |
|
Textiles |
119.9 |
100.0 |
92.6 |
75.0 |
62.8 |
|
Wearing Apparel |
114.5 |
100.0 |
71.8 |
45.3 |
26.4 |
|
Leather Products &
Footwear |
100.3 |
100.0 |
84.7 |
52.6 |
54.1 |
|
Wood & Wood Products |
107.1 |
100.0 |
88.8 |
68.3 |
70.0 |
|
Paper & Paper Products |
92.5 |
100.0 |
98.8 |
93.3 |
103.7 |
|
Printing & Media |
97.6 |
100.0 |
96.7 |
82.5 |
84.7 |
|
Crude Oil Refineries |
100.2 |
100.0 |
101.0 |
86.1 |
85.4 |
|
Chemical & Chemical
Products |
93.8 |
100.0 |
95.1 |
90.4 |
109.9 |
|
Pharmaceutical Products |
102.1 |
100.0 |
92.8 |
104.4 |
159.9 |
|
Rubber & Plastic Products |
100.1 |
100.0 |
92.2 |
77.6 |
86.1 |
|
Non-metallic Mineral |
113.1 |
100.0 |
83.1 |
79.1 |
79.7 |
|
Basic Metals |
110.0 |
100.0 |
120.9 |
101.9 |
112.5 |
|
Fabricated Metal Products |
97.8 |
100.0 |
95.0 |
85.2 |
97.2 |
|
Machinery & Equipment |
83.9 |
100.0 |
97.4 |
85.8 |
117.7 |
|
Electrical Machinery |
98.8 |
100.0 |
98.1 |
104.2 |
149.1 |
|
Electronic Components |
96.1 |
100.0 |
93.0 |
85.1 |
115.5 |
|
Transport Equipment |
85.3 |
100.0 |
106.7 |
100.2 |
99.3 |
|
|
|
|
|
|
|
|
Construction |
46.60 |
45.60 |
45.90 |
<36.9> |
14.20 |
|
Real Estate |
12.9 |
40.8 |
<11.2> |
1.4 |
21.3 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
<5.3> |
11.00 |
<1.3> |
1.70 |
4.00 |
|
Transport, Storage &
Communication |
6.00 |
8.50 |
11.60 |
3.90 |
12.80 |
|
Finance & Insurance |
6.40 |
41.50 |
<5.9> |
<16.4> |
<0.4> |
|
Government Services |
13.50 |
3.80 |
17.40 |
4.50 |
9.70 |
|
Education Services |
1.10 |
1.80 |
0.50 |
0.10 |
<0.9> |
|
|
|
|
|
|
|
|
* Based on Index of Industrial
Production (2007 = 100) |
|
|
|
|
|
|
(Source : Department of
Statistics) |
|
|
|
|
|
INDUSTRY
: TRADING
The 1st Quarter 2012 total retail sales is expected to grow from a forecast
SGD44.45bn (US$35.28bn) in 2011 to SGD51.50bn (US$46.82bn) by 2015. Singapore lacks
the advantage of a massive consumer base, its low unemployment rate, the rapid
influx of foreign immigrants and increasing visitor arrivals will continue to
instill dynamism into the local retail scene and further buoy consumer
spending.
The February 2011 budget provided a boost to consumer spending power, with the
SGD6.6bn (US$5.2bn) Total Benefits package earmarked for households in
2011-2012 expected to have positive implications for the Singapore consumer.
In terms of retail sub-sectors, the over-the-counter pharmaceutical sector to
be worth US$0.15bn in 2011 and for sales to increase by more than 35% to
US$0.20bn by 2015. Sales of consumer electronics products are expected to
increase by nearly 24%, from US$3.96bn in 2011 to US$4.90bn by the end of the
forecast period on the back of strong demand for high-end products such as
multimedia notebooks, 3G phones and smartphones.
The food retail segment will have a market share of 21.3% in 2011, when the
sub-sector is forecast to be worth US$7.50bn. Sales are expected to grow to
US$8.11bn by 2015.
Mass grocery retail sales are forecast to be US$3.46bn in 2011 and to grow by
more than 25% to US$4.45bn by 2015, more than three times the rate of growth for
overall food sales. This would take mass grocery retail's share of the overall
food market from 45.7% in 2011 to 52.9% by the end of the forecast period.
Retail sales of Asian countries in 2011 are forecast US$3.13trn. China and
India are predicted to account for nearly 91% of regional retail sales in 2011,
and by 2015 their share of the regional market is expected to be more than 92%.
Growth in regional retail sales for 2011-2015 is forecast at 71.6%, an annual
average 14.4%. India should experience the most rapid rate of growth, followed
by China. Singapore's market share of 1.1% in 2011 is forecast to fall to 0.8%
by 2015.
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH
Incorporated in 1997, the SC is an Exempt Private company, focusing on trading
of information technology products. Having been in the industry for over a
decade, the SC has achieved a certain market share and has built up a
satisfactory reputation in the market. It should have received supports from
its regular customers. With a weak shareholders' backing, the SC's capital
position is weak. Inadequate capital may be a constraint to the SC as it limits
its ability to expand its business in future. The capital standing of the SC is
weak.
Over the years, the SC has penetrated into both the local and overseas market.
The SC has positioned itself in the global market and is competing in the
industry. Its stable clientele base will enable the SC to further enhance its
business in the near term. Overall, we regard that the SC's management
capability is average.
As the SC is registered as an Exempt Private company, it is not required to
file financial statements for public review. As such, we are unable to
ascertain its present financial health.
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key suppliers
and insufficient quantities of its raw materials. Overall the SC has a good
control over its resources.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the SC is expected to benefit from the favourable
outlook of the industry. However, the SC should have strong competitive edge
against other players in the same fields.
Due to the unavailability of the SC's latest financial information, we
recommend credit be proceeded to the SC with guarantee.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.