MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD

 

 

Registered Office :

668 Chander Road, 02-18, 210668

 

 

Country :

Singapore

 

 

Financials (as on) :

2010

 

 

Date of Incorporation :

21.02.1989

 

 

Com. Reg. No.:

198900680-Z

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Department Stores Cum Supermarkets & General Wholesale Trading

 

 

No. of Employees :

800

 

 

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

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

198900680-Z

COMPANY NAME

:

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

21/02/1989

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

BUSINESS ADDRESS

:

MUSTAFA CENTRE 145, SYED ALWI ROAD, , 207704, SINGAPORE.

TEL.NO.

:

65-62955855

FAX.NO.

:

65-62982692/ 62955866

CONTACT PERSON

:

MUSTAQ AHMAD ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

DEPARTMENT STORES CUM SUPERMARKETS & GENERAL WHOLESALE TRADING

AUTHORISED CAPITAL

:

13,340,000.00 ORDINARY SHARE, OF A VALUE OF SGD 13,340,000.00

ISSUED AND PAID UP CAPITAL

:

13,340,000.00 ORDINARY SHARE, OF A VALUE OF SGD 13,340,000.00

 

 

 

SALES

:

N/A

NET WORTH

:

N/A

 

 

 

STAFF STRENGTH

:

800 [2012]

BANKER (S)

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
DBS BANK LTD
INDIAN OVERSEAS BANK
MALAYAN BANKING BHD
OVERSEA-CHINESE BANKING CORPORATION LTD
STANDARD CHARTERED BANK
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD
UCO BANK
UNITED OVERSEAS BANK LTD

LITIGATION

:

TRACED

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

GOOD

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) department stores cum supermarkets & general wholesale trading.

 

The major shareholder(s) of the SC are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA +

119 KENG LEE ROAD, 308405, SINGAPORE.

S2019378F

8,171,170.00

61.25

SHAMSUDDIN

5 VERDUN ROAD, 07-02 SPA BUILDING, 207274, SINGAPORE.

S2077946B

2,016,993.00

15.12

MR. ISHRET JAHAN +

119 KENG LEE ROAD, 308405, SINGAPORE.

S2595621D

1,165,667.00

8.74

ESTATE OF MUSTAFA
[DECEASED]

119 KENG LEE ROAD, 308405, SINGAPORE.

S2101665I

1,986,170.00

14.89

 

 

 

---------------

------

 

 

 

13,340,000.00

100.00

 

 

 

============

=====

 

+ Also Director



DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

MR. IQBAL AHMAD

Address

:

119 KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S2586147G

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/09/2001

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

SHAMA BANO

Address

:

119 KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S7770799I

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/02/2001

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

MR. ISHRET JAHAN

Address

:

119 KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S2595621D

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

19/06/1991

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 4

 

Name Of Subject

:

MR. MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA

Address

:

119 KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S2019378F

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

21/02/1989

 

 

 

 

 

 

 

 

 

 

 

 




MANAGEMENT

 

 

 

1)

Name of Subject

:

MUSTAQ AHMAD

 

Position

:

DIRECTOR

 

 

 

 

 

AUDITOR

 

Auditor

:

NATARAJAN & SWAMINATHAN

Auditor' Address

:

N/A

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. IQBAL AHMAD

 

IC / PP No

:

S2586147G

 

 

 

 

 

Address

:

119 KENG LEE ROAD, 308405, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD

 

 

 

 

 

2)

Name

:

DBS BANK LTD

 

 

 

 

 

3)

Name

:

INDIAN OVERSEAS BANK

 

 

 

 

 

4)

Name

:

MALAYAN BANKING BHD

 

 

 

 

 

5)

Name

:

OVERSEA-CHINESE BANKING CORPORATION LTD

 

 

 

 

 

6)

Name

:

STANDARD CHARTERED BANK

 

 

 

 

 

7)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

8)

Name

:

UCO BANK

 

 

 

 

 

9)

Name

:

UNITED OVERSEAS BANK LTD

 

 

 

 

 

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

:

12/05/2011

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 C201105789 In The Register of Charges



ENCUMBRANCE 2

Date of Creation

:

11/09/2010

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 C201008079 In The Register of Charges



ENCUMBRANCE 3

Date of Creation

:

17/08/2010

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UNITED OVERSEAS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201007219 In The Register of Charges



ENCUMBRANCE 4

Date of Creation

:

04/07/2008

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

CITIBANK N A

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200806091 In The Register of Charges



ENCUMBRANCE 5

Date of Creation

:

08/04/2008

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 C200803214 In The Register of Charges



ENCUMBRANCE 6

Date of Creation

:

05/04/2007

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200702630 In The Register of Charges



ENCUMBRANCE 7

Date of Creation

:

08/01/2007

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200700135 In The Register of Charges



ENCUMBRANCE 8

Date of Creation

:

29/11/2006

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 C200608068 In The Register of Charges



ENCUMBRANCE 9

Date of Creation

:

16/06/2005

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200503442 In The Register of Charges



ENCUMBRANCE 10

Date of Creation

:

17/05/2005

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 C200502824 In The Register of Charges



ENCUMBRANCE 11

Date of Creation

:

09/09/2004

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

THE BANK OF EAST ASIA LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200404463 In The Register of Charges



ENCUMBRANCE 12

Date of Creation

:

02/07/2004

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UCO BANK

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200403202 In The Register of Charges



ENCUMBRANCE 13

Date of Creation

:

26/11/2003

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 C200305669 In The Register of Charges



ENCUMBRANCE 14

Date of Creation

:

07/11/2003

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200305321 In The Register of Charges



ENCUMBRANCE 15

Date of Creation

:

07/11/2003

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200305316 In The Register of Charges



ENCUMBRANCE 16

Date of Creation

:

07/11/2003

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200305315 In The Register of Charges



ENCUMBRANCE 17

Date of Creation

:

08/01/2007

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200700134 In The Register of Charges



ENCUMBRANCE 18

Date of Creation

:

27/09/2011

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201112082 In The Register of Charges



ENCUMBRANCE 19

Date of Creation

:

27/09/2011

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201112085 In The Register of Charges



ENCUMBRANCE 20

Date of Creation

:

28/01/2012

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

EXPORT-IMPORT BANK OF INDIA

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201201077 In The Register of Charges



ENCUMBRANCE 21

Date of Creation

:

22/02/2012

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201202022 In The Register of Charges



ENCUMBRANCE 22

Date of Creation

:

22/02/2012

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

DBS BANK LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201202023 In The Register of Charges



ENCUMBRANCE 23

Date of Creation

:

18/05/2012

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LTD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C201205484 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

:

10545

 

 

 

 

 

Year

:

2002

Place

:

SINGAPORE

 

 

 

 

 

Court

:

MAGISTRATE COURT

 

 

 

 

 

 

 

 

Date Filed

:

24/04/2002

 

 

 

 

 

 

 

 

Plaintiff

:

JEEVANANTHAM RAJESTRI D/O MUNIANDY

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Amount Claimed

:

656.80

 

 

 

 

 

 

 

 

Nature of Claim

:

SGD

 

 

 

 

 

 

 

 

Remark

:

NEGLIGENCE RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Code No

:

99

Case No

:

1016

 

 

 

 

 

Year

:

2002

Place

:

SINGAPORE

 

 

 

 

 

Court

:

SUPREME COURT

 

 

 

 

 

 

 

 

Date Filed

:

28/08/2002

 

 

 

 

 

 

 

 

Plaintiff

:

NG HUAN GEOK

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Remark

:

PROPERTY RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Code No

:

99

Case No

:

2083

 

 

 

 

 

Year

:

2003

Place

:

SINGAPORE

 

 

 

 

 

Court

:

DISTRICT COURT

 

 

 

 

 

 

 

 

Date Filed

:

19/05/2003

 

 

 

 

 

 

 

 

Plaintiff

:

PARATHI DHASAN S/O MUNUSAMY

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Remark

:

NEGLIGENCE RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Code No

:

99

Case No

:

11310

 

 

 

 

 

Year

:

2006

Place

:

SINGAPORE

 

 

 

 

 

Court

:

MAGISTRATE COURT

 

 

 

 

 

 

 

 

Date Filed

:

09/05/2006

 

 

 

 

 

 

 

 

Plaintiff

:

LAM MENG HUA

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Amount Claimed

:

5,000.00

 

 

 

 

 

 

 

 

Nature of Claim

:

SGD

 

 

 

 

 

 

 

 

Remark

:

NEGLIGENCE RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Code No

:

99

Case No

:

14060

 

 

 

 

 

Year

:

2008

Place

:

SINGAPORE

 

 

 

 

 

Court

:

MAGISTRATE COURT

 

 

 

 

 

 

 

 

Date Filed

:

09/06/2008

 

 

 

 

 

 

 

 

Plaintiff

:

AUTHENTIC SPORTS PTE LTD

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Amount Claimed

:

20,816.86

 

 

 

 

 

 

 

 

Nature of Claim

:

SGD

 

 

 

 

 

 

 

 

Remark

:

CONTRACTS RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Code No

:

99

Case No

:

16601

 

 

 

 

 

Year

:

2010

Place

:

SINGAPORE

 

 

 

 

 

Court

:

MAGISTRATE COURT

 

 

 

 

 

 

 

 

Date Filed

:

29/06/2010

 

 

 

 

 

 

 

 

Plaintiff

:

MUHAMMAD AKHTAR HAYAT

 

 

 

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO PTE LTD (198900680)

668 CHANDER ROAD, 02-18, 210668, SINGAPORE.

 

 

 

 

Remark

:

NEGLIGENCE RELATED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

:

YES

Overseas

:

YES

 

 

 


CLIENTELE

 

Local

:

N/A

 

 

 

Overseas

:

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


The SC refused to disclose its clientele information.

OPERATIONS

 

Services

:

DEPARTMENT STORES CUM SUPERMARKETS & GENERAL WHOLESALE TRADING

 

 

 

 

Award

:

1 ) SINGAPORE'S ENTERPRISE 50 AWARD Year :0

 

 

 

 

 

Total Number of Employees:

 

YEAR

2012

2011

2010

 

 

 

 

 

 

 

GROUP

N/A

N/A

N/A

 

 

 

 

 

 

COMPANY

800

800

800

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) department stores cum supermarkets & general wholesale trading.

The SC stores are well known for selling products catered to a wide variety of needs and people. It has products for the entire range of people, from the construction workers to the well-to-do. The store stocks more than 120,000 items, ranging from ready-made apparel to jewellery, sundry items and household goods to luggage bags and electronics. The company conducts regular consumer surveys and market research to know what people want in order to cater to their needs. Hence, its product mix changes with customer needs.

Prices of products sold at the SC are lower than its competitors with a profit margin not exceeding 15%. The lower prices are possible because of the huge turnover. Goods are imported directly, eliminating the need for middlemen. They are bought in much bigger quantities, so lower prices can be offered. The goods are bought at the cheapest possible sources, from countries such as Malaysia, Indonesia, Thailand, Hong Kong and Singapore itself. It is this simple business strategy that has worked for the company since its beginning: "to buy and sell at the lowest prices possible".

Hence, it is this wide range of products at reasonable and fair prices that attracts people to its stores. On any given day, it sees an average of 15,000 customers. Its customer base is made up of 60 %. Singaporeans, both locals and expatriates, and 40 % tourists. In terms of ethnicity, Indians form about 65 per cent of its customers. These satisfied customers give the stores much needed and appreciated word-of-mouth publicity by recommending them to others.

Product categories:

* Accessories

* Cosmetics

* Electronics

* Home appliance

* Jewellery

* Mobile phones

* Pharmacy

* Super market

* Textiles

Services:

* Foreign exchange

* Visa processing

* Travels booking

* Gold mart

* All kinds of shopping items

Agent/distributor for:

* Brother International Corporation (JP)

Subject is a member of the following entity:

* Singapore Retailers Association

CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

6562955855

Current Telephone Number

:

65-62955855

Match

:

YES

 

 

 

Address Provided by Client

:

MUSTAFA CENTRE 145, SYED ALWI ROAD, SINGAPORE

Current Address

:

MUSTAFA CENTRE 145, SYED ALWI ROAD, , 207704, SINGAPORE.

Match

:

NO

 

 

 

 

Other Investigations


On 23rd October 2012, we contacted one of the staff from HR Department of SC and she provided some information on the SC.

The address provided is incomplete.

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 1989, the SC is an Exempt Private company, focusing on department stores cum supermarkets & general wholesale trading. The SC has been in business for over two decades. It has built up a strong clientele base and good reputation will enable the SC to further enhance its business in the near term. The SC is expected to enjoy a stable market shares. The SC is a large entity with strong capital position.


Being a large entity, the SC has a steady workforce of 800 personnel to support its business operations. Its future prospects seem to be fairly good as its business operations are running relatively stable. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


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 SC's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the SC has a good control over its resources.


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.


In view of the above, we recommend credit be granted to the SC with close monitoring.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.63

UK Pound

1

Rs.86.17

Euro

1

Rs.69.74

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.