MIRA INFORM REPORT

 

 

Report Date :

24.12.2012

 

IDENTIFICATION DETAILS

 

Name :

VAMANCORE PTE. LTD.

 

 

Registered Office :

101 Cecil Street, #23-12, Tong Eng Building Singapore 069533

 

 

Country :

Singapore

 

 

Financials (as on) :

31.08.2010

 

 

Date of Incorporation :

12.09.2008

 

 

Com. Reg. No.:

200818067H

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General wholesale trade (including general importers and exporters)

 

 

No. of Employees :

Not Available 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Contact Points

 

Company Name:

Vamancore Pte. Ltd.

Supplied Name:

Vamancore Pte Ltd

Supplied Address:

101 Cecil Street 23-05 Tong Eng Building Singapore 069533

 

 

Credit Summary

 

Credit Opinion:

In view of the absence of information about subject’s operation, caution should be exercised.

 

 

Special Note

 

According to the supplied name and address, we can not find any valid contact information of subject.

 

From public files, we found subject is engaged in trading of ferro alloys, iron and steel products.

 

Since we contacted subject unsuccessfully, the information above is not confirmed by subject.

 

Registration files show subject’s principal activities as follows:

46900--General wholesale trade (including general importers and exporters)

 

Up to the deadline of reporting, we failed to get in touch with subject. If you can supply a current telephone number, we’d like to have the investigation resumed.

 

We found subject’s registration information as follows for reference.

 

 

Company Identification Details

 

Registered Name:

Vamancore Pte. Ltd.

Registered Address:

101 Cecil Street, #23-12, Tong Eng Building Singapore 069533

Date of Registration::

2008-9-12

Registered Number:

200818067H

Country of Incorporation:

Singapore

Registered Capital:

USD 221,000

SGD 1 (USD 0.8013)

(As of 2012.08, 1 SGD = 0.8013 USD)

Paid-up Capital:

USD 221,000 = 221,000 Shares@1 USD

SGD 1 (USD 0.8013) =1 Shares@1 SGD

Legal Form:

Limited Private Company

Principal Activities:

46900

General wholesale trade (including general importers and exporters)

Staff:

N/A

Status:

Live Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2011-5-25

 

 

History

 

Subject was incorporated on 2008-9-12 with registered number 200818067H as Limited Private Company in Singapore.

 

 

Shareholders

 

Name

Subscription Amount

Proportion of Investment (%)

Rohitash Kumar Agarwal

USD 957

0.43%

Satvik Enterprises Ltd

USD 130,043

58.84%

Deepak Agarwal

USD 90,000

40.72%

Total

USD 221,000

=100%

Sri Murali S/O Sinnothei Renganathan

SGD 1

100%

Total

SGD 1

100%

 

 

Major Shareholder Information:

1

Name:

Rohitash Kumar Agarwal

ID Number:

F2214473

Address:

1, Park Lane, 3rd Floor, Park Street, Kolkata - 700016, West Bengal, India

Nationality:

Indian

2

Name:

Satvik Enterprises Ltd

Registered Number:

T10UF0256L

Address:

No.1, Park Lane, Kolkata - 700016, West Bengal India

Nationality:

India

3

Name:

Deepak Agarwal

ID Number:

Z1624234

Address:

9380, 171st Avenue Ne, Redmond - WA-98052, USA.

Nationality:

Indian

4

Name:

Sri Murali S/O Sinnothei Renganathan

ID Number:

S1331899I

Address:

39 Coronation Road Singapore 269450

Nationality:

Singapore Citizen

 

 

Subsidiaries & Branches

 

Related Company:

1

Name:

Satvik Enterprises Limited

Address:

1, Park Lane, Kolkata-700016, India

E-mail:

info@satvikindia.com

2

Name:

Saatvik Ferro Limited

 

Management Information

 

Core Management

Detailed Information of Management:

1

Name:

Vikash Agarwal

Position:

Director

ID Number:

E3781762

Address:

1, Park Lane, 3rd Floor, Park Street, Kolkata - 700016, West Bengal, India

Nationality:

Indian

Date of Appointment:

2009-1-13

2

Name:

Rohitash Kumar Agarwal

Position:

Director

ID Number:

F2214473

Address:

1, Park Lane, 3rd Floor, Park Street, Kolkata - 700016, West Bengal, India

Nationality:

Indian

Date of Appointment:

2009-1-13

3

Name:

Sri Murali S/O Sinnothei Renganathan

Position:

Director

ID Number:

S1331899I

Address:

39 Coronation Road, Singapore 269450

Nationality:

Singapore Citizen

Date of Appointment:

2008-9-12

4

Name:

Sri Murali S/O Sinnothei Renganathan

Position:

Secretary

ID Number:

S1331899I

Address:

39 Coronation Road, Singapore 269450

Nationality:

Singapore Citizen

Date of Appointment:

2009-1-13

5

Name:

Nithya Kalyani

Position:

Secretary

ID Number:

S2560829A

Address:

39 Coronation Road, Singapore 269450

Nationality:

Singapore P.R.

Date of Appointment:

2010-1-29

 

 

Operation Information

 

Offices & Factories

 

Office

Registered Address:

101 Cecil Street, #23-12, Tong Eng Building Singapore 069533

 

Production Information

We contacted subject unsuccessfully.

We obtained the registered activities of the subject as follows for reference.

 

Business Code

Details

46900

General wholesale trade (including general importers and exporters)

 

From public files, we found subject is a trader of ferro alloys and iron & steel products, but the information is not confirmed by subject.

 

 

Settlements

 

We couldn’t contact the subject successfully, and the settlement information is not available from the subject or other sources.

 

Balance Sheet

Unit: USD

Date

2010-8-31

Total Assets

1,730,395.00

Total Current Assets

1,730,395.00

Total Non-Current Assets f.k.a. [Fixed And Others]

0.00

Total Liabilities

1,228,299.00

Total Current Liabilities

1,228,299.00

Total Non-Current Liabilities

0.00

Total Equity f.k.a [Shareholder's Funds]

502,096.00

Paid-Up Capital

N.A.

Share Capital

221,001.00

Other Reserves, Total f.k.a. [Reserves]

0.00

Retained Earnings/(Accumulated Loss)

281,095.00

 

 

Profit/Loss Account

Unit: USD

Date

2009-9-1~2010-8-31

Revenue f.k.a [Sales Turnover And

Other Operating Revenues]

5,964,941.00

Profit/(Loss) before Tax from

Continuing Operations f.k.a

[Profit/(Loss) before tax]

167,906.00

Profit/(Loss) after Tax from

Continuing Operations f.k.a

[Profit/(Loss) After Tax]

159,106.00

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

N.A.

Profit/(Loss) After Tax and

Extraordinary Items

N.A.

 

 

 

 

Financial Ratio

 

Date

2009-9-1~2010-8-31

Earning Capacity 

 

Rate of net profit on sales (%)

2.67

Return of investment (%)

9.19

Return of shareholder's funds

31.69

Total assets turnover (%)

3.45

Financial Stability

 

Current/working capital ratio (%)

1.41

Proprietary ratio (%)

29.02

Total debt to equity ratio (%)

70.98

 

 

Bankers

 

Charges

Charge 1

Charge Number:

C201001463

Date of Registration:

2010-2-12

Name:

Indian Overseas Bank

Amount Secured:

All Monies

Charge 2

Charge Number:

C201104680

Date of Registration:

2011-4-14

Name:

Bank of India

Amount Secured:

All Monies

 

 

Auditors

 

Name:

VKR Practices

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.08

UK Pound

1

Rs.89.53

Euro

1

Rs.72.77

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.