|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
200721691-H
|
|
COMPANY NAME
|
:
|
ESUN INTERNATIONAL PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
22/11/2007
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
17 TRACTOR ROAD, 627975, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
17 TRACTOR ROAD, 627975, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-68660220
|
|
FAX.NO.
|
:
|
65-68660202
|
|
EMAIL
|
:
|
sales@esun.com.sg
|
|
WEB SITE
|
:
|
www.esun.com.sg
|
|
CONTACT PERSON
|
:
|
SEAH HOCK THIAM ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
DEALING OF FERROUS AND NON-FERROUS SCRAP METALS AND
ELECTRONIC/ELECTRICAL SCRAP MATERIALS
|
|
AUTHORISED CAPITAL
|
:
|
5,000,010.00 ORDINARY SHARE, OF A VALUE OF SGD 5,000,010.00
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
5,000,010.00 ORDINARY SHARE, OF A VALUE OF SGD 5,000,010.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
52 [2012]
|
|
|
|
LITIGATION
|
:
|
TRACED
|
|
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) dealing of ferrous and non-ferrous
scrap metals and electronic/electrical scrap materials.
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
SEAH HOCK THIAM +
|
11 JALAN SENANDONG, SWISS CLUB PARK, 288762, SINGAPORE.
|
S1764330D
|
1,325,010.00
|
26.50
|
|
LEE POH CHOO +
|
11 JALAN SENANDONG, SWISS CLUB PARK, 288762, SINGAPORE.
|
S6831418F
|
1,225,000.00
|
24.50
|
|
ANG YEW LAI +
|
35 DAIRY FARM ROAD, 08-01, DAIRY FARM ESTATE, PHASE 3, 679052,
SINGAPORE.
|
S1720356H
|
1,225,000.00
|
24.50
|
|
LEE ENG NGEE
|
468 JURONG WEST STREET 41, 10-465, 640468, SINGAPORE.
|
S1561751I
|
1,225,000.00
|
24.50
|
|
|
|
|
---------------
|
------
|
|
|
|
|
5,000,010.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
LEE POH CHOO
|
|
Address
|
:
|
11 JALAN SENANDONG, SWISS CLUB PARK, 288762, SINGAPORE.
|
|
IC / PP No
|
:
|
S6831418F
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
20/11/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
ANG YEW LAI
|
|
Address
|
:
|
35 DAIRY FARM ROAD, 08-01, DAIRY FARM ESTATE, PHASE 3, 679052,
SINGAPORE.
|
|
IC / PP No
|
:
|
S1720356H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
27/09/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
SEAH HOCK THIAM
|
|
Address
|
:
|
11 JALAN SENANDONG, SWISS CLUB PARK, 288762, SINGAPORE.
|
|
IC / PP No
|
:
|
S1764330D
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
05/09/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of Subject
|
:
|
SEAH HOCK THIAM
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
E.M.NG & CO
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
CHIAM KIA SOON
|
|
|
IC / PP No
|
:
|
S1145200J
|
|
|
|
|
|
|
|
Address
|
:
|
169 JALAN JURONG KECHIL, 06-11, 598669, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
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
|
:
|
02/07/2009
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200903938 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
06/05/2010
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C201003744 In The Register of Charges
|
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank against the SC whether the
subject has been involved in any litigation.
|
LEGAL ACTION
|
|
|
|
|
|
Code No
|
:
|
99
|
Case No
|
:
|
652
|
|
|
|
|
|
|
Year
|
:
|
2011
|
Place
|
:
|
SINGAPORE
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
07/01/2011
|
|
|
|
|
|
|
|
|
|
Plaintiff
|
:
|
LEE THIAM HOCK
|
|
|
|
|
Defendants
|
:
|
|
ESUN INTERNATIONAL PTE. LTD. (200721691)
|
|
17 TRACTOR ROAD, 627975, SINGAPORE.
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
0.00
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
NEGLIGENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE:
|
Please check with creditors for confirmation as alleged debts may have
been paid since recorded or are being disputed. The person wo has been sued
has the same name as the subject. However, we are unable to determine
whether the person sued is the one and the same person.
|
|
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
|
:
|
FERROUS AND NON-FERROUS SCRAP METALS AND ELECTRONIC/ELECTRICAL SCRAP
MATERIALS
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
52
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) dealing of ferrous and
non-ferrous scrap metals and electronic/electrical scrap materials.
The SC has been engaging in the buying and selling of ferrous and non-ferrous
scrap metals and electronic/electrical scrap materials for many years.
The SC's capability and financial strength have also enabled it to tender for
any scraps from various government authorities and government related
companies in Singapore with no financial limit.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
65-68660220
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
17, TRACTOR ROAD, SINGAPORE 627975
|
|
Current Address
|
:
|
17 TRACTOR ROAD, 627975, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
We contacted one of the staff from the Admin Department. 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
|
|
|
|
|
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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
dealing of ferrous and non-ferrous scrap metals and electronic/electrical
scrap materials. The SC has been in business for 5 years and it has slowly
been building up contact with its clients while competing in the industry.
The capital standing of the SC is fair. With an adequate share capital, the
SC has the potential of expanding its business in future.
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Although the SC has been in the business for less than a decade, it has established
an extensive marketing network to support its business operation.
Penetrating into the overseas countries has well diversified its business
risk. However, the SC faces fierce competition from other well established
company. Being a moderate size company, the SC has a total workforce of 52
employees in its business operations. 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. Nonetheless, the SC should adopt better
competitive strategies in order to sustain its business position and to
compete with other well established players in the same industry.
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In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
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