MIRA INFORM REPORT

 

 

Report Date :

10.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MSM ENTERPRISES (PTE) LTD

 

 

Registered Office :

47 Arab Street, Singapore 199744

 

 

Country :

Singapore

 

 

Date of Incorporation :

22.03.1980

 

 

Com. Reg. No.:

198000925H

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Wholesaler of wearing apparel for adults

Wholesaler of textiles

 

 

No. of Employees :

About 10 Employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

Without Financials

 

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:

MSM Enterprises (Pte) Ltd

Supplied Name:

MSM Enterprise Pte Ltd.

Trading Address:

47 Arab Street, Singapore 199744

Supplied Address:

47 Arab Street, Singapore 199744

Telephone Number:

+65-6293-8786

Fax Number:

+65-6293-8110

E-mail:

onn@pacific.net.sg

Note: The exact name is as above.

 

 

Credit Summary

 

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

MSM Enterprises (Pte) Ltd

Registered Address:

47 Arab Street, Singapore 199744

Date of Registration::

1980-3-22

Registered Number:

198000925H

Country of Incorporation:

Singapore

Registered Capital:

SGD 200,000.00 (USD 163,400)

(As of 2012.11, 1 SGD = 0.8170 USD)

Paid-up Capital:

SGD 200,000.00 (USD 163,400) = 200,000 Shares@1 SGD

Legal Form:

Limited Exempt Private Company

Principal Activities:

46412

Wholesale of wearing apparel for adults

46411

Wholesale of textiles

Staff:

About 10 Employees

Status:

Live Company

Listed at Stock Exchange:

No

Date of Last Annual Return:

2012-7-24

History

 

Subject was incorporated on 1980-3-22 with registered number 198000925H as Limited Exempt Private Company in Singapore.

 

 

Shareholders

 

Unit: SGD

Name

Subscription Amount

Proportion of Investment (%)

Zohra Mohamedali, Deceased

16,000

8%

Onn S/O Mohd Sithawalla

150,000

75%

Estate of Sithawalla Sona Mohamedally Mrs Rangwala Sona Kayamali

16,000

8%

Altaff Hussien

18,000

9%

Total

200,000

100%

 

Major Shareholder Information:

1

Name:

Zohra Mohamedali, Deceased

ID Number:

S0309637H

Address:

47 Arab Street Singapore 199744

Nationality:

Singapore Citizen

2

Name:

Onn S/O Mohd Sithawalla

ID Number:

S1076642G

Address:

12 Amber Gardens #13-07 King's Mansion Singapore 439959

Nationality:

Singapore Citizen

3

Name:

Estate of Sithawalla Sona Mohamedally Mrs Rangwala Sona Kayamali

ID Number:

S2012428H

Address:

150 Bedok Reservoir Road #03-1729 Singapore 470150

Nationality:

Singapore Citizen

4

Name:

Altaff Hussien

ID Number:

S2015025D

Address:

47 Arab Street Singapore 199744

Nationality:

Singapore Citizen

 

 

Subsidiaries & Branches

 

Subject did not introduce whether it has 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:

Onn S/O Mohd Sithawalla

Position:

Director

ID Number:

S1076642G

Address:

12 Amber Gardens, #13-07 King's Mansion Singapore 439959

Nationality:

Singapore Citizen

Date of Appointment:

1991-12-12

2

Name:

Onn S/O Mohd Sithawalla

Position:

Secretary

ID Number:

S1076642G

Address:

12 Amber Gardens, #13-07 King's Mansion Singapore 439959

Nationality:

Singapore Citizen

Date of Appointment:

1991-11-4

3

Name:

Shabbir Onn Sithawalla

Position:

Director

ID Number:

S1745757H

Address:

121 Tanjong Rhu Road, #07-15, Tanjong Ria Condominium Singapore 436914

Nationality:

Singapore Citizen

Date of Appointment:

2007-11-27

 

Personnel Structure

Total Employees

About 10 Employees

 

 

Operation Information

 

Offices & Factories

 

Office

Address:

47 Arab Street, Singapore 199744

 

Production Information

l         Subject is a trader of timber, plywood and textile, etc without any production activities.

 

Purchase Information

l         Subject purchases products mainly from abroad.

 

Sales Information

l         Subject is engaged in sales of timber, plywood and textile, etc.

l         Subject’s sales regions include Southeast Asia, America, Europe, and Africa, etc.

 

 

Settlements

 

Purchase

Domestic Markets

Subject had little domestic purchase.

Overseas Markets

Products

Payment Terms

Proportion

Wood and textile, etc

CBD, etc

100%

 

 

 

Sales

Domestic Markets

Product

Sales Terms

Proportion

Wood and textile, etc

COD, CBD, etc

100%

 

Overseas Markets

Product

Sales Terms

Proportion

Wood and textile, etc

CBD, etc

100%

 

 

Financial Information

 

In Singapore, Limited Exempt Private Companies are not obligated to submit their financial statements to the local registry. We did not find the financials of subject from the local registry, the subject also declined to disclose such information due to the confidentiality reason.

 

 

Bankers

 

Bank Charges

Charge 1

Charge Number:

199904810

Date of Registration:

1999-11-2

Name:

Indian Bank

Amount Secured:

USD 100,000.00

Charge 2

Charge Number:

C200303726

Date of Registration:

2003-8-5

Name:

Indian Bank

Amount Secured:

All Monies

 

 

Auditors

 

Name:

R. Ashraff Ali & Co

 

 

Interview Details

 

Position:

Sales

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.86.97

Euro

1

Rs.69.43

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.