MIRA INFORM REPORT

 

 

Report Date :

05.11.2012

 

IDENTIFICATION DETAILS

 

Name :

VICTORY MERCANTILE CORPORATION PTE. LTD.

 

 

Registered Office :

150 South Bridge Road, # 06-07, Fook Hai Building Singapore 058727

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

21.10.2004

 

 

Com. Reg. No.:

00413646D

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Trading of chemicals, textiles, wood, wood veneers, plastics, ceramics

 

 

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 :

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 – 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

Contact Points

 

Company Name:

Victory Mercantile Corporation Pte. Ltd.

Supplied Name:

Victory Mercantile Corporation Pte Ltd.

Trading Address:

150 South Bridge Road, # 06-07, Fook Hai Building Singapore 058727

Supplied Address:

150 South Bridge Road 06-07 Fook Han Building Singapore 058727

Telephone Number:

+65-6538-8110

Fax Number:

+65-6538-7998

E-mail:

general@vmcorp.com.sg, vmcorp@singnet.com.sg

Note:

The correct name and address are as above mentioned.

 

 

Company Identification Details

 

Registered Name:

Victory Mercantile Corporation Pte. Ltd.

Registered Address:

150 South Bridge Road, # 06-07, Fook Hai Building Singapore 058727

Date of Registration::

2004-10-21

Registered Number:

200413646D

Country of Incorporation:

Singapore

Registered Capital:

SGD 8,972,076 (USD 7,022,443.89)

(As of 2012.05, 1 SGD = 0.7827 USD)

Paid-up Capital:

SGD 8,972,076 (USD 7,022,443.89) = 8,972,076 Shares@1 SGD

Legal Form:

Limited Exempt Private Company

Principal Activities:

82999

Trading of chemicals, textiles, wood, wood veneers, plastics, ceramics

46900

General wholesale trade (including general importers and exporters

Staff:

N/A

Status:

Active

Listed at Stock Exchange:

No

Date of Last Annual Return:

2011-7-4

Note: The subject declined to disclose the number of staff.

     Subject’s capital has been changed as above mentioned.

 

 

History

 

Subject was incorporated on 2004-10-21 with registered number 200413646D as Limited Exempt Private Company in Singapore.

 

 

Shareholders

 

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

Anantrai Harilal Kamdar

2,734,682

30.48%

Kamlesh S/O Anantrai Kamdar

2,734,682

30.48%

Hiten A Kamdar

2,734,682

30.48%

Kamdar Dishan Anantrai

768,030

8.56%

Total

8,972,076

100%

 

Major Shareholder Information:

1

Name:

Anantrai Harilal Kamdar

Value:

SGD 2,734,682

ID Number:

S1039546A

Address:

160 Haig Road, #06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

2

Name:

Kamlesh S/O Anantrai Kamdar

Value:

SGD 2,734,682

ID Number:

S1495874F

Address:

160 Haig Road, #06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

3

Name:

Hiten A Kamdar

Value:

SGD 2,734,682

ID Number:

S1770858I

Address:

160 Haig Road, #06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

4

Name:

Kamdar Dishan Anantrai

Value:

SGD 768,030

ID Number:

S7316546F

Address:

160 Haig Road, #06-02 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

 

 

Subsidiaries & Branches

 

Subject did not introduce any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Management Information

 

Core Management

 

Detailed Information of Management:

1

Name:

Hiten A Kamdar

Position:

Managing Director

ID Number:

S1770858I

Address:

160 Haig Road, #06-01Haig Court, Singapore 438795

Nationality:

Singapore Citizen

Date of Appointment:

2004-10-21

2

Name:

Anantrai Harilal Kamdar

Position:

Director

ID Number:

S1039546A

Address:

160 Haig Road, #06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

Date of Appointment:

2004-10-21

3

Name:

Kamlesh S/O Anantrai Kamdar

Position:

Director

ID Number:

S1495874F

Address:

160 Haig Road, #06-01 Haig Court Singapore 438795

Nationality:

Singapore Citizen

Date of Appointment:

2004-10-21

4

Name:

Hiten A Kamdar

Position:

Director

ID Number:

S1770858I

Address:

160 Haig Road, #06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

Date of Appointment:

2004-10-21

5

Name:

Kamlesh S/O Anantrai Kamdar

Position:

Secretary

ID Number:

S1495874F

Address:

160 Haig Road,#06-01 Haig Court, Singapore 438795

Nationality:

Singapore Citizen

Date of Appointment:

2004-10-21

 

 

Operation Information

 

Offices & Factories

 

 

Office

Address:

150 South Bridge Road, # 06-07, Fook Hai Building Singapore 058727

Production Information

 

l         Subject is engaged in trading of chemicals, pharmaceuticals, plastics, textiles, metals, etc and it does not have production activities

 

Purchase

 

l         It is introduced that the subject imports from India, Pakistan, etc

 

Sales Information

 

l         The subject is engaged in the sales of chemicals, pharmaceuticals, plastics, textiles, metals

l         Subject’s major products include: Chemicals, Pharmaceuticals, Plastics, and Metals, etc.

l         Subject’s products currently are mainly sold in Singapore.

 

 

Settlements

 

Purchase

 

Domestic Markets

 

Subject has little domestic purchase

 

Overseas Markets

Products

Payment Terms

Proportion

Chemicals, Pharmaceuticals, Plastics, and Metals

CBD, etc

100%

 

Sales

 

Domestic Markets

Product

Sales Terms

Proportion

Chemicals, Pharmaceuticals, Plastics, and Metals

COD, CBD, etc

100%

 

Overseas Markets

Subject has little overseas sales

 

Balance Sheet

 

Unit: USD

Date

2006-12-31

Total Assets

6,596,365.00

Total Current Assets

6,592,836.00

Total Non-Current Assets f.k.a.

[Fixed And Others]

3,529.00

Total Liabilities

5,403,143.00

Total Current Liabilities

5,403,143.00

Total Non-Current Liabilities

0.00

Total Equity f.k.a [Shareholder's

Funds]

1,193,222.00

Paid-Up Capital

641,663.00

Share Capital

-

Other Reserves, Total f.k.a.

[Reserves]

130,764.00

Retained Earnings/(Accumulated

Loss)

(420,795.00)

 

 

Profit/Loss Account

 

Unit: USD

Date

2006

Revenue f.k.a [Sales Turnover And

Other Operating Revenues]

37,676,400.00

Profit/(Loss) before Tax from

Continuing Operations f.k.a

[Profit/(Loss) before tax]

274,383.00

Profit/(Loss) after Tax from

Continuing Operations f.k.a

[Profit/(Loss) After Tax]

248,441.00

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

0.00

Profit/(Loss) After Tax and

Extraordinary Items

248,441.00

 

 

Financial Ratio

 

Date

2006

Rate of Net Profit on Sales (%)

0.66

Return of Investment (%)

3.77

Return of Shareholder's Funds (%)

20.82

Total Assets Turnover (%)

5.71

Current/Working Capital Ratio (%)

1.22

Proprietary Ratio (%)

18.09

Total Debt to Equity Ratio (%)

81.91

Note:

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. We could obtain the latest financials of subject are as above mentioned.

 

 

Bankers

 

Bank Charges

Charge 1

Charge Number:

C201204297

Date of Registration:

2012-4-19

Name:

United Overseas Bank Limited

Amount Secured:

All Monies

Charge 2

Charge Number:

C201204345

Date of Registration:

2012-4-20

Name:

United Overseas Bank Limited

Amount Secured:

All Monies

 

 

Auditors

 

Name:

Strategic Assurance LLP

 

Interview Details

 

Department:

Sales Department

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.66

UK Pound

1

Rs.86.37

Euro

1

Rs.69.24

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.