MIRA
INFORM REPORT
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Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SALSA EXPORTS PTE LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.03.1990 |
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Com. Reg. No.: |
199001251D |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Wholesale Of Scrap, Junk And Waste Dealers |
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No. of Employees : |
Not Available |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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: |
Salsa Exports
Pte Ltd |
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Supplied Name: |
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Supplied
Address: |
Special Notes
We tried to contact subject through the supplied number +65-2-4617-5374
and +65-2-6873-8459, the numbers do not exist.
We found a phone
number as +65-6337-0452 from public
files, we have tried this number for several times, but no one answered the
phone. And we also failed to send a fax through the fax number +65-6533-8325
obtained from public files.
An E-mail has been sent to semp@po.jaring.my , but no reply has been received, yet.
And subject’s corporate secretary Mohan
Management Consultants Pte Ltd (Tel: +65-) 6337-2472) based on registered
address also declined to disclose any information.
Up to the date of reporting, we failed to get
in touch with subject, if you kindly supply other contact, we’d like to
continue our investigation and if there is any information returns, we will
update the report.
We found subject’s registration information from local registry,
supplying as follows for reference.
Company Identification Details
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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: |
199001251D |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 3,432,528
(USD 2,680,461) (As of 2012.06,
1 SGD = 0.7809 USD) |
|
Paid-up Capital: |
SGD 3,432,528
(USD 2,680,461) = 3,432,528 Shares@1 SGD |
|
Legal Form: |
Limited Exempt
Private Company |
|
Principal
Activities: |
46651--Wholesale
Of Scrap, Junk And Waste Dealers |
|
N/A |
|
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
|
Notes: The staff
information is not available from subject or other sources.
History
Subject was incorporated on
|
Date |
Change |
|
|
Mangalam Trade
Impex Pte Ltd |
|
|
Salsa Exports
Pte Ltd |
Shareholders
|
Subscription
Amount |
Proportion of
Investment (%) |
|
|
3,363,877 |
98% |
|
|
Seetharaman
Srimathi |
68,650 |
2% |
|
Meyyappa
Chettiar Renganathan |
1 |
-- |
|
Total |
3,432,528 |
100% |
Major Shareholder
Information:
|
1 |
|
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Name: |
Mappillai Chettiar Seetha Raman |
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ID Number: |
G035875 |
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Address: |
4-5 North Veli St Madurai 1 Tamil Nadu India |
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2 |
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Name: |
Seetharaman Srimathi |
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ID Number: |
H0482829 |
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Address: |
43, Jalan Pipit,Taman Million, Off Jalan Ipoh
52100 Kualalumpur,Malaysia |
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3 |
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Name: |
Meyyappa Chettiar Renganathan |
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ID Number: |
S |
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Address: |
707 Clementi West Street 2 #11-327 Singapore
120707 |
Subsidiaries & Branches
We can not confirm
whether subject has any Subsidiaries or Branches
Management Information
Detailed
Information of Management:
|
1 |
|
|
Name: |
Mappillai Chettiar Seetha Raman |
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Position: |
Director |
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ID Number: |
G035875 |
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Address: |
4-5 North Veli St Madurai 1 |
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Nationality: |
Indian |
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Date of Appointment: |
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2 |
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Name: |
Seetharaman Srimathi |
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Position: |
Director |
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ID Number: |
H0482829 |
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Address: |
43, Jalan Pipit,Taman Million, Off Jalan Ipoh
52100 Kualalumpur,Malaysia |
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Nationality: |
Indian |
|
Date of Appointment: |
|
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3 |
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Name: |
Meyyappa Chettiar Renganathan |
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Position: |
Director |
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ID Number: |
S |
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Address: |
707 Clementi West Street 2 #11-327 Singapore
120707 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
|
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4 |
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Name: |
Meyyappa Chettiar Renganathan |
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Position: |
Secretary |
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ID Number: |
S |
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Address: |
707 Clementi West Street 2 #11-327 Singapore
120707 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
2004-7-3 |
Operation Information
We cannot confirm subject’s operation, thus we supplied subject’s
principal activities registered in the local registry as follows for reference.
46651--Wholesale
Of Scrap, Junk and Waste Dealers
Settlements
The settlement
information is not available from subject or other sources.
Balance Sheet
Unit: USD
|
|
|
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Total Assets |
1,873,645.00 |
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Total Current Assets |
1,873,645.00 |
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Total Non-Current Assets f.k.a. [Fixed And Others] |
0.00 |
|
Total Liabilities |
1,617,842.00 |
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Total Current Liabilities |
1,617,842.00 |
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Total Non-Current Liabilities |
0.00 |
|
Total Equity f.k.a [Shareholder's Funds] |
255,803.00 |
|
Paid-Up Capital |
N.A. |
|
Share Capital |
219,543.00 |
|
Other Reserves, Total f.k.a. [Reserves] |
49.00 |
|
Retained Earnings/(Accumulated Loss) |
36,211.00 |
Profit/Loss Account
|
|
2007 |
|
Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
8,913,182.00 |
|
Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
5,979.00 |
|
Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
5,661.00 |
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Net Income/(Loss) From Extraordinary And Non-Operating
Items |
N.A. |
|
Profit/(Loss) After Tax and Extraordinary Items |
N.A. |
Financial Ratio
|
|
2007 |
|
Earning Capacity |
|
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Rate of Net Profit on Sales (%) |
0.06 |
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Return of Investment (%) |
0.30 |
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Return of Shareholder's Funds (%) |
2.21 |
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Total Assets Turnover (%) |
4.76 |
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Financial Stability |
|
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Current/Working Capital Ratio (%) |
1.16 |
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Proprietary Ratio (%) |
13.65 |
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Total Debt to Equity Ratio (%) |
86.35 |
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 our available sources.
Bankers
Bank Charges
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Charge Number: |
C201103652 |
|
Date of
Registration: |
|
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Name: |
Indian Overseas Bank |
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Amount Secured: |
All Monies |
Auditors
|
Name: |
Natarajan &
Swaminathan |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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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 |
|
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 |
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<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.