|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MULTI AGRO IMPEX PTE LTD |
|
|
|
|
Registered Office : |
63 Robinson Road, 05-02, Afro-Asia Building, 068894, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.05.2000 |
|
|
|
|
Com. Reg. No.: |
200004055-C |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading Of Wood Products |
|
|
|
|
No. of Employees : |
6 Employees |
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 : |
Unknown |
|
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 |
|
REGISTRATION NO. |
: |
200004055-C |
||||
|
COMPANY NAME |
: |
MULTI
AGRO IMPEX PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
10/05/2000 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
63 ROBINSON ROAD, 05-02,
AFRO-ASIA BUILDING, 068894, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
63 ROBINSON ROAD #05-02 AFRO
ASIA BUILDING , 068894, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63240050 |
||||
|
FAX.NO. |
: |
65-63243234 |
||||
|
CONTACT PERSON |
: |
ARCHANA JAIN ( DIRECTOR ) |
||||
|
|
|
|
||||
|
|
|
|
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF WOOD PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
1,000,000.00 ORDINARY SHARE,
OF A VALUE OF SGD 1,000,000.00 |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE,
OF A VALUE OF SGD 1,000,000.00 |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
6 [2012] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
|
|
|
||||
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 wood products.
The major shareholder(s) of the SC are shown as follows :
|
+ Also
Director
DIRECTOR
1
|
Name
Of Subject |
: |
ARCHANA
JAIN |
|
Address |
: |
5
TANJONG RHU ROAD, 03-04, WATERSIDE, 436882, SINGAPORE. |
|
IC /
PP No |
: |
S2688554Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
10/05/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name
Of Subject |
: |
VINOD
KUMAR JAIN |
|
Address |
: |
5
TANJONG RHU ROAD, 03-04, WATERSDE, 436882, SINGAPORE. |
|
IC /
PP No |
: |
S2685293E |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
10/05/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name
of Subject |
: |
ARCHANA
JAIN |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
S.
RENGANATHAN & CO. |
|
Auditor'
Address |
: |
N/A |
|
|
|
|
|
1) |
Company
Secretary |
: |
RAVI
KASTURI |
|
|
IC /
PP No |
: |
S2651015E |
|
|
|
|
|
|
|
Address |
: |
124
MCNAIR ROAD #06-33, 320124, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
||||||||
|
||||||||
|
||||||||
|
||||||||
|
||||||||
|
|
The
SC enjoys normal banking routine with above mentioned banker(s). The SC has
bank charges with above mentioned banker(s). |
ENCUMBRANCE 1
|
Date
of Creation |
: |
15/04/2005 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200502234 In The Register of Charges |
||||
ENCUMBRANCE 2
|
Date
of Creation |
: |
24/01/2006 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200600608 In The Register of Charges |
||||
ENCUMBRANCE 3
|
Date
of Creation |
: |
24/01/2006 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200600609 In The Register of Charges |
||||
ENCUMBRANCE 4
|
Date
of Creation |
: |
23/08/2007 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200706909 In The Register of Charges |
||||
ENCUMBRANCE 5
|
Date
of Creation |
: |
02/01/2009 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C200900027 In The Register of Charges |
||||
ENCUMBRANCE 6
|
Date
of Creation |
: |
18/08/2010 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C201007236 In The Register of Charges |
||||
ENCUMBRANCE 7
|
Date
of Creation |
: |
07/03/2011 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C201102811 In The Register of Charges |
||||
ENCUMBRANCE 8
|
Date
of Creation |
: |
29/08/2012 |
||
|
Description
Of Charge |
: |
|
||
|
Amount
Secured |
: |
N/A |
||
|
Description
Of Property Affected |
: |
|
||
|
Name
& Address Of Chargee |
: |
|
||
|
|
|
|
||
|
|
|
|
||
|
Form
40 Dated |
||||
|
Registered
and Numbered C201209792 In The Register of Charges |
||||
* 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.
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The SC refused to disclose its suppliers.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
The SC
refused to disclose any information on its clientele.
|
Goods
Traded |
: |
|
|
|
|
|
|
|
Total
Number of Employees: |
|||
|
YEAR |
2012 |
|
|
|
|
|||
|
GROUP |
N/A |
|
|
|
COMPANY |
6 |
|
|
|
Branch |
: |
|
Other
Information:
The SC is principally engaged in the (as a / as an) trading of wood products.
The SC refused to disclose any information on its operation.
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone
Number Provided By Client |
: |
65
63240050 |
|
Current
Telephone Number |
: |
65-63240050 |
|
Match |
: |
YES |
|
|
|
|
|
Address
Provided by Client |
: |
63 ROBINSON
ROAD #05-02 AFRO ASIA BUILDING SINGAPORE 068894 |
|
Current
Address |
: |
63
ROBINSON ROAD #05-02 AFRO ASIA BUILDING , 068894, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 27th November 2012 we contacted one of the staff from the SC and she
provided some information on the SC.
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
|
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 : 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
Incorporated in 2000, the SC is an Exempt Private company, focusing on trading
of wood 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. The
capital standing of the SC is fair. However, with a weak shareholders' backing,
the SC's capital position is weak. Inadequate capital may be a constraint to
the SC as it limits its ability to expand its business in future.
Being a small company, the SC's business operation is supported by 6 employees.
Overall, we regard that the SC's management capability is average.
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.
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.
In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
No
latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.