|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
200706061-H
|
|
COMPANY NAME
|
:
|
METALMAN EXIM (SINGAPORE)
PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
11/04/2007
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
3 SHENTON
WAY, 21-05 SHENTON HOUSE, 068805, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
3, SHENTON WAY, 21-05, SHENTON HOUSE, 068805, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-67908590
|
|
FAX.NO.
|
:
|
65-63279436
|
|
WEB SITE
|
:
|
www.metalex.sg
|
|
CONTACT PERSON
|
:
|
LOKESH ( STAFF )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF METAL SCRAPS
|
|
AUTHORISED CAPITAL
|
:
|
942,000.00 ORDINARY SHARE, OF A VALUE OF USD 942,000.00
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
942,000.00 ORDINARY SHARE, OF A VALUE OF USD 942,000.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2012]
|
|
BANKER (S)
|
:
|
|
AUSTRALIA AND NEW ZEALAND BANKING GROUP
LTD
CITIBANK BHD
INDIAN OVERSEAS BANK
|
|
|
|
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
|
HISTORY / BACKGROUND
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 metal scraps.
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MEERA GARWAL +
|
242 WESTWOOD
AVENUE, 07-51, FORAVALE, 659365, SINGAPORE.
|
S7767561B
|
462,799.00
|
49.13
|
|
THAKKAR MITESH KANTILAL +
|
460
CORPORATION ROAD, 02-03 PARC VISTA, 649815, SINGAPORE.
|
G6004380P
|
349,201.00
|
37.07
|
|
SACHIN JAYPRAKASH JALAN +
|
242 WESTWOOD
AVENUE, 07-51, FLORAVALE, 648365, SINGAPORE.
|
S7568019H
|
130,000.00
|
13.80
|
|
|
|
|
---------------
|
------
|
|
|
|
|
942,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
SONTHALIA NANKISHORE
|
|
Address
|
:
|
SHYAM KUNK, F-42, ANNA NAGAR, EAST 1ST MAIN ROAD, CHENNAI, 600102, TAMILNADU, INDIA.
|
|
IC / PP No
|
:
|
Z1741884
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
04/03/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
SACHIN JAYPRAKASH JALAN
|
|
Address
|
:
|
242 WESTWOOD
AVENUE, 07-51, FLORAVALE, 648365, SINGAPORE.
|
|
IC / PP No
|
:
|
S7568019H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
30/09/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
THAKKAR MITESH KANTILAL
|
|
Address
|
:
|
460
CORPORATION ROAD, 02-03 PARC VISTA, 649815, SINGAPORE.
|
|
IC / PP No
|
:
|
G6004380P
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
01/09/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MEERA GARWAL
|
|
Address
|
:
|
242 WESTWOOD
AVENUE, 07-51, FORAVALE, 659365, SINGAPORE.
|
|
IC / PP No
|
:
|
S7767561B
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
29/10/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of Subject
|
:
|
LOKESH
|
|
|
Position
|
:
|
STAFF
|
|
|
|
|
|
|
Auditor
|
:
|
HAJAMIDEEN & CO
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
BHALOTA VISHNU
|
|
|
IC / PP No
|
:
|
S2729045J
|
|
|
|
|
|
|
|
Address
|
:
|
10E BRADDELL VIEW, 18-148, BRADDEL VIEW, 579724, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
AUSTRALIA AND NEW
ZEALAND BANKING GROUP LTD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
INDIAN OVERSEAS BANK
|
|
|
|
|
|
|
The SC enjoys normal banking routine with above mentioned banker(s).
The SC has bank charges with above mentioned banker(s).
|
ENCUMBRANCE (S)
ENCUMBRANCE 1
|
Date of Creation
|
:
|
13/09/2010
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
CITIBANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C20108115 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
18/07/2011
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
INDIAN OVERSEAS BANK
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C201108707 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
29/05/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C201205842 In The Register of Charges
|
LEGAL CHECK AGAINST SC
* 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.
PAYMENT RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
WORLDWIDE
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
METAL SCRAPS
|
|
Total Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
5
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of metal scraps.
The SC specializes in the wholesale distribution and trading of metal scrap material
and the main products are as follows:
* Heavy Melting steel scrap
* Re rolling steel scrap
* Shredded steel scrap
* Seamless pipes
* Black / Bright bars
* Wire rods
* Plates & sheets
* Steel billets
* Hot rolled / cold rolled / galvanized steel coils and slit coils.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
65 63279436
|
|
Current Telephone Number
|
:
|
65-67908590
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO. 3, SHENTON WAY, 21-05, SHENTON HOUSE, SINGAPORE 068805
|
|
Current Address
|
:
|
3, SHENTON WAY, 21-05, SHENTON HOUSE, 068805, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts. However they have rejected our request in view
of the confidentiality of the documents.
|
|
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
FINANCIAL ANALYSIS
|
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
|
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
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 ANALYSIS
|
INDUSTR:
|
TRADING
|
|
|
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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.
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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.
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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.
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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.
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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.
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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.
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH
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CREDIT RISK EVALUATION & RECOMMENDATION
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Incorporated in 2007, the SC is an Exempt Private company, focusing on trading
of metal scraps. Having been in business for 5 years, the SC has
established a remarkable clientele base for itself which has contributed to
its business growth. The SC is considered as a medium size company with
issued and paid up capital standing at USD 942,000.
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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. To date, the SC's business operation
is supported by 5 employees. Overall, we regard that the SC's management
capability is average.
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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.
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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, we are of the opinion that there are a
large number of other companies in the same industry. In another word, we
believe that the SC faces stiff competitions from other local players.
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In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
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