|
|
REGISTRATION
NO.
|
:
|
200005826-G
|
|
COMPANY
NAME
|
:
|
REDICON
TEC (S) PTE LTD
|
|
FORMER
NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
04/07/2000
|
|
|
|
|
|
|
|
|
|
COMPANY
STATUS
|
:
|
EXIST
|
|
LEGAL
FORM
|
:
|
EXEMPT
PRIVATE
|
|
LISTED
STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
30 MARSILING IND ESTATE ROAD
5, 05-01, 739211, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
NO.
30 MARSILING INDUSTRIAL ESTATE,ROAD 5, #05-01, 739211, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-67488826
|
|
FAX.NO.
|
:
|
65-67481662
|
|
EMAIL
|
:
|
redicon@pacific.net.sg
|
|
WEB
SITE
|
:
|
www.redicon.com.sg
|
|
CONTACT
PERSON
|
:
|
RICHARD
( MANAGER )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
DISTRIBUTION
OF CLEANROOM PRODUCTS
|
|
AUTHORISED
CAPITAL
|
:
|
800,000.00
ORDINARY SHARE, OF A VALUE OF SGD 800,000.00
|
|
ISSUED
AND PAID UP CAPITAL
|
:
|
800,000.00
ORDINARY SHARE, OF A VALUE OF SGD 800,000.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET
WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF
STRENGTH
|
:
|
4
[2012]
|
|
BANKER
(S)
|
:
|
|
STANDARD
CHARTERED BANK
UNITED OVERSEAS BANK LIMITED
|
|
|
|
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)
distribution of cleanroom products.
The major shareholder(s) of
the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc
No
|
Shareholding
|
(%)
|
|
JASON
SNG KIAN WAH +
|
771 WOODLANDS DRIVE
60, 07-192, 730771, SINGAPORE.
|
S7043926C
|
800,000.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
800,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR
1
|
Name
Of Subject
|
:
|
JASON
SNG KIAN WAH
|
|
Address
|
:
|
771 WOODLANDS DRIVE
60, 07-192, 730771, SINGAPORE.
|
|
IC
/ PP No
|
:
|
S7043926C
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date
of Appointment
|
:
|
04/07/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name
of Subject
|
:
|
RICHARD
|
|
|
Position
|
:
|
MANAGER
|
|
|
|
|
|
AUDITOR
No Auditor found in our databank
|
1)
|
Company
Secretary
|
:
|
TAN
TIEN POH MARK
|
|
|
IC
/ PP No
|
:
|
S1355131F
|
|
|
|
|
|
|
|
Address
|
:
|
326 TAMPINES STREET
32, 09-386, 520326, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
STANDARD
CHARTERED BANK
|
|
|
|
|
|
|
2)
|
Name
|
:
|
UNITED
OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
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
|
:
|
03/07/2010
|
|
Description
Of Charge
|
:
|
N/A
|
|
Amount
Secured
|
:
|
N/A
|
|
Description
Of Property Affected
|
:
|
N/A
|
|
Name
& Address Of Chargee
|
:
|
STANDARD
CHARTERED BANK
|
|
|
|
|
|
|
|
|
|
Form
40 Dated
|
|
Registered
and Numbered C201005613 In The Register of Charges
|
ENCUMBRANCE 2
|
Date
of Creation
|
:
|
19/09/2011
|
|
Description
Of Charge
|
:
|
N/A
|
|
Amount
Secured
|
:
|
N/A
|
|
Description
Of Property Affected
|
:
|
N/A
|
|
Name
& Address Of Chargee
|
:
|
UNITED
OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
|
|
|
Form
40 Dated
|
|
Registered
and Numbered C201111700 In The Register of Charges
|
ENCUMBRANCE 3
|
Date
of Creation
|
:
|
30/12/2011
|
|
Description
Of Charge
|
:
|
N/A
|
|
Amount
Secured
|
:
|
N/A
|
|
Description
Of Property Affected
|
:
|
N/A
|
|
Name
& Address Of Chargee
|
:
|
STANDARD
CHARTERED BANK
|
|
|
|
|
|
|
|
|
|
Form
40 Dated
|
|
Registered
and Numbered C201200013 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
|
:
|
ASIA
|
|
Credit
Term
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment
Mode
|
:
|
CHEQUES,TELEGRAPHIC
TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods
Traded
|
:
|
CLEANROOM
PRODUCTS
|
|
|
|
|
|
Total
Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
4
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) distribution of cleanroom
products.
The SC is engaged in the supply of Cleaners & Dryers, Garment Accessories
& Supplies, Gloves and others.
The SC however refused to disclose further information on its operation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC
indicated that :
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-67488826
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address
Provided by Client
|
:
|
NO
30 MARSILING INDUSTRIAL ESTATE
ROAD 5, #05-01, SINGAPORE 739211
|
|
Current
Address
|
:
|
NO.
30 MARSILING INDUSTRIAL ESTATE,ROAD 5, #05-01, 739211, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other
Investigations
On 7th November 2012 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
|
INDUSTRY
:
|
TRADING
|
|
|
|
|
|
|
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.
|
|
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.
|
|
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.
|
|
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.
|
|
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.
|
|
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.
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 2000, the SC is a Exempt Private company, focusing on
distribution of cleanroom products. Having been in the industry for over a
decade, the SC has achieved a certain market share and has built up a
satisfactory reputation in the market. It should have received supports
from its regular customers. With a weak shareholders' backing, the SC's
capital position is weak. The SC is considered as a medium size company
with issued and paid up capital standing at SGD 800,000.
|
|
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. Being a small company, the SC's
business operation is supported by 4 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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