MIRA INFORM REPORT

 

 

Report Date :

13.03.2012

 

IDENTIFICATION DETAILS

 

Name :

FARLIN TIMBERS PTE LTD

 

 

Registered Office :

435 Orchard Road, #21-01, Wisma Atria Singapore 238877

 

 

Country :

Singapore

 

 

Date of Incorporation :

03.08.1994

 

 

Com. Reg. No.:

199405441Z

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading of Timber Products and Coal

 

 

No. of Employees :

1

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 20,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Contact Points

 

Company Name:

Farlin Timbers Pte Ltd

Supplied Name:

Farlin Timbers Pte Ltd

Trading Address:

435 Orchard Road, #21-01, Wisma Atria Singapore 238877

Supplied Address:

435 Orchard Road, # 21-01 Wismaatria Singapore

Telephone Number:

+65-63981188

Fax Number:

+65-63981177

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 20,000

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Farlin Timbers Pte Ltd

Registered Address:

435 Orchard Road, #21-01, Wisma Atria Singapore 238877

Date of Registration::

1994-08-03

Registered Number:

199405441Z

Country of Incorporation:

Singapore

Registered Capital:

SGD 55,000,000.00 (USD 42,289,500)

(As of 2011.10, 1 SGD = 0.7689 USD)

Paid-up Capital:

SGD 55,000,000.00 (USD 42,289,500)

= 55,000,000.00Shares@1 SGD

Legal Form:

Private Limited Liability Company

Principal Activities:

Trading of timber products and coal

Staff:

N/A

Status:

Live company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2010-10-07

Note: Information on staff number could not be obtained from subject or other sources.

 

History

 

Subject was incorporated on 1994-08-03 with registered number 199405441Z as Private Limited Liability Company in Singapore.

 

Change of Name:

Date

Change

1994-08-03

Virgin Wood Products Pte Ltd

1997-10-02

Farlin Timbers Pte Ltd

 

Shareholders

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

Mohammed Farouk

55,000,000

100%

Total

55,000,000

100%

 

Major Shareholder Information:

Name:

Mohammed Farouk

ID Number:

S2715761J

Address:

95 Grange Road #17-11 Grange Residences Singapore 249616

Nationality:

Singapore P.R.

 

Management Information

 

Core Management

Detailed Information of Management:

1

Name:

Mohammed Farouk

Position:

Director

ID Number:

S2715761J

Address:

95 Grange Road, #17-11, Grange Residences Singapore 249616

Nationality:

Singapore P.R.

Date of Appointment:

03-08-1994

2

Name:

Seet Beng Choo Jeanne

Position:

Secretary

ID Number:

S1234059A

Address:

22 Malacca Street, #03-02, Royal Brothers Building Singapore 048980

Nationality:

Singapore Citizen

Date of Appointment:

31-08-2003

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

435 Orchard Road, #21-01, Wisma Atria Singapore 238877

 

Purchase

 

l         Subject is imported timber products and coal from other countries.

 

Products

Original area

Timber products

West Africa, South America, Southeast Asia

Coal

West Africa, South America, Southeast Asia

 

Sales Information

 

l         Subject is engaged in the trading of timber products and coal from other countries.

l         Subject has both domestic and foreign markets.

 

Settlements

 

Purchase

 

Domestic Markets

 

Note: Subject seldom purchases from domestic market.

 

Overseas Markets

Products

Payment Terms

Proportion

Timber products and coal

CBD, etc.

100%

 

Sales

 

Domestic Markets

Product

Sales Terms

Proportion

Timber products and coal

CBD, etc.

100%

 

Overseas Markets

Product

Sales Terms

Proportion

Timber products and coal

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 financial figures, so financial information is not available.

 

 

Auditors

 

Name:

J K Medora & Co

 

Public

 

Charges

 

Charge 1

Charge Number:

200200829

Date of Registration:

19-02-2002

Name:

The Royal Bank Of Scotland N.V.

Amount Secured:

All Monies

Charge 2

Charge Number:

C200401264

Date of Registration:

17-03-2004

Name:

Indian Bank

Amount Secured:

All Monies

Charge 3

Charge Number:

C200401743

Date of Registration:

06-04-2004

Name:

Societe Generale

Amount Secured:

All Monies

Charge 4

Charge Number:

C200401744

Date of Registration:

06-04-2004

Name:

Societe Generale

Amount Secured:

All Monies

Charge 5

Charge Number:

C200704107

Date of Registration:

30-05-2007

Name:

Uco Bank

Amount Secured:

All Monies

Charge 6

Charge Number:

C200704694

Date of Registration:

22-06-2007

Name:

Bank Of Baroda

Amount Secured:

All Monies

Charge 7

Charge Number:

C200704919

Date of Registration:

28-06-2007

Name:

Indian Overseas Bank

Amount Secured:

All Monies

Charge 8

Charge Number:

C200901941

Date of Registration:

31-03-2009

Name:

Axis Bank Limited Singapore Branch

Amount Secured:

All Monies

Charge 9

Charge Number:

C200902027

Date of Registration:

06-04-2009

Name:

Axis Bank Limited Singapore Branch

Amount Secured:

All Monies

Charge 10

Charge Number:

C200904590

Date of Registration:

24-07-2009

Name:

State Bank Of India

Amount Secured:

All Monies

Charge 11

Charge Number:

C200905172

Date of Registration:

20-08-2009

Name:

Bank Of India

Amount Secured:

All Monies

Charge 12

Charge Number:

C201004295

Date of Registration:

24-05-2010

Name:

Canara Bank, Hong Kong Branch

Amount Secured:

All Monies

Charge 13

Charge Number:

C201005135

Date of Registration:

21-06-2010

Name:

Canara Bank, Hong Kong Branch

Amount Secured:

All Monies

Charge 14

Charge Number:

C201007668

Date of Registration:

31-08-2010

Name:

Punjab National Bank, Hong Kong

Amount Secured:

All Monies

Charge 15

Charge Number:

C201010238

Date of Registration:

29-10-2010

Name:

Bank Of Baroda

Amount Secured:

All Monies

 

Interview Details

 

Department:

Sales Department

E-mail:

aditya@farlingroup.com  

 

Note: The woman who answered the phone declined to disclose her name.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.94

UK Pound

1

Rs.78.25

Euro

1

Rs.65.39

 

 

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.