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Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
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Name : |
NORCRANE & WINCH HOLDINGS PTE. LTD. |
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Registered Office : |
12 Pioneer Sector 1, Singapore 628423 |
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Country : |
Singapore |
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Date of Incorporation : |
07.07.2010 |
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Com. Reg. No.: |
201014430D |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Holding and investment company |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Company Name: |
Norcrane &
Winch Holdings Pte. Ltd. |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
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Note: The exact name and
address are as above.
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Credit Opinion: |
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Registered Name: |
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Registered
Address: |
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Date of
Registration:: |
2010-7-7 |
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Registered
Number: |
201014430D |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 300,000.00
(USD 240,780) (As of 2012.09,
1 SGD = 0.8026 USD) |
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Paid-up Capital: |
SGD 300,000.00
(USD 240,780) = 300,000 Shares@1 SGD |
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Legal Form: |
Limited Exempt
Private Company |
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Principal
Activities: |
64202 Holding and
investment company |
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N/A |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
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Date of Last
Annual Return: |
-- |
Note: Subject declined to
disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated on 2010-7-7 with registered number 201014430D as
Limited Exempt Private Company in Singapore.
|
Subscription Amount |
Proportion of Investment (%) |
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Finn Martin
Nilsen |
150,000 |
50% |
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Chew Geok Hoon
Lena |
150,000 |
50% |
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Total |
300,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Finn Martin
Nilsen |
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ID Number: |
26126058 |
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Address: |
P O Box 72544,
Dubai Maritime City Dubai, U.A.E. |
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Nationality: |
Norwegian |
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2 |
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Name: |
Chew Geok Hoon
Lena |
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ID Number: |
S1659669H |
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Address: |
838 Sims Avenue
#02-830 Eunos Estate Hudc Singapore 400838 |
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Nationality: |
Singapore
Citizen |
Related Company:
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1 |
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Name: |
Nor Crane &
Winch DMCCO |
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Address: |
PO Box: 72544,
Dubai, United Arab Emirates |
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2 |
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Name: |
Nor Crane &
Winch (India) Pvt. Ltd |
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Address: |
205. Moghul's Emami
Mansion, Lane opposite Shadan College Khairatabad, Hyderabad-500 004, India |
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Telephone
Number: |
+91-40-6675-8388 |
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3 |
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Name: |
Nor Crane |
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Address: |
Tianjin Sino
Link # A3-506, Tai Da Xin Tian Di, Teda, Tianjin 300457 China, PRC |
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Telephone
Number: |
+86-22-6622-2236 |
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Fax Number: |
+86-22-6628-2458 |
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4 |
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Name: |
Nor Crane &
Winch AS |
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Address: |
Tverrmyra 7B,
N-3185 Skoppum, Norway |
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Telephone
Number: |
+47-9152-0503 |
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Fax Number: |
+47-3308-2614 |
Detailed
Information of Management:
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1 |
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Name: |
Finn Martin
Nilsen |
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Position: |
Director |
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ID Number: |
26126058 |
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Address: |
P O Box 72544,
Dubai Maritime City Dubai, U.A.E. |
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Nationality: |
Norwegian |
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Date of
Appointment: |
2010-7-7 |
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2 |
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Name: |
Chew Geok Hoon
Lena |
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Position: |
Director/
Secretary |
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ID Number: |
S1659669H |
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Address: |
838 Sims Avenue,
#02-830, Eunos Estate Hudc, Singapore 400838 |
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Nationality: |
Singapore
Citizen |
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Date of Appointment: |
2010-7-7 |
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3 |
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Name: |
Rozi Binti Salim |
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Position: |
Director |
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ID Number: |
S7024426H |
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Address: |
15A Chapel
Close, Singapore 429570 |
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Nationality: |
Singapore
Citizen |
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Date of
Appointment: |
2012-6-1 |
Offices
& Factories
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Office |
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Address: |
Production
Information
l
Subject is engaged in providing pulling and lifting
services for marine and offshore.
Purchase
Information
l
The machines and components for using by subject
are mostly purchased abroad.
Sales
Information
l
Subject is engaged in sales of pulling and lifting
services, etc.
l
Subject’s service area is in Singapore domestic
market.
Major services
provided
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Service |
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1 |
Trouble shooting |
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2 |
Re Design |
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3 |
Refurbishment of
hydrailic Cylinders, Hydraulic Motors and Pumps |
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4 |
Component/Product
Improvement |
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5 |
Testing of
winches in own test bench up to 300 Tons |
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6 |
Piping and
Tubing |
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7 |
Supply and Installation
of alarm and monitoring system |
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8 |
Electrical
System Installation and repairs |
Purchase
Domestic Markets
Subject has little
domestic purchase.
Overseas Markets
|
Products |
Payment Terms |
Proportion |
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Machines and
components |
CBD, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
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Pulling and
lifting services |
COD, etc |
100% |
Overseas Markets
Subject has little
export.
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.
Subject declined to disclose its bank details; from other source we cannot
obtain the relevant information, either.
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Department: |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.89 |
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|
1 |
Rs.88.63 |
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Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.