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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SYMAROM ( |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
12.03.2003 |
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Com. Reg. No.: |
200302245R |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Manufacture And Sale Of Flavour, Fragrance & Chemical |
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No. of Employees : |
20-30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Singapore |
A1 |
A1 |
|
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: |
Symarom (Asia)
Pte. Ltd. |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
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Notes: Subject’s exact name and address are as above.
Subject was
incorporated on
Change of Name
|
Date |
Change |
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|
SIMAROM PTE. LTD. |
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|
SYMAROM (ASIA) PTE. LTD. |
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Subscription
Amount |
Proportion
of Investment (%) |
|
|
85,696 |
10% |
|
|
Lu Rui Hua |
263,402 |
30% |
|
Lao Xiaoman |
191,237 |
22% |
|
Seah Chee Lai |
334,665 |
38% |
|
Total |
875,000 |
100% |
Major Shareholder
Information:
|
1 |
|
|
Name: |
Kyi Soe |
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ID Number: |
827042 |
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Address: |
655 Mahabandoola Road Latha Township |
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2 |
|
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Name: |
Lu Rui Hua |
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ID Number: |
G07482116 |
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Address: |
Room 2704, Block 5, Hengbao Plaza, 143 Bao Hua
Road Guangzhou City, P.R. China |
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3 |
|
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Name: |
Lao Xiaoman |
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ID Number: |
R161914(3) |
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Address: |
Room 202, 17# Qing Cai Gang, Jian She Liu Road,
Guangzhou, China |
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4 |
|
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Name: |
Seah Chee Lai |
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ID Number: |
S1474117H |
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Address: |
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Office
|
Address |
Guangzhou, Guangdong,
China |
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Tel: |
+86-20-8101-7880 |
Detailed
Information of Management:
|
1 |
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Name: |
Lao Xiaoman |
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Position: |
Director |
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ID Number: |
R161914(3) |
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Address: |
Room 202, 17# Qing Cai Gang, Jian She
Liu Road, Guangzhou |
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Nationality: |
Chinese |
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Date of Appointment: |
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2 |
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Name: |
SEAH CHEE LAI |
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Position: |
Director |
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ID Number: |
S1474117H |
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Address: |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
|
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3 |
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Name: |
Kang Lyna |
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Position: |
Secretary |
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ID Number: |
S |
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Address: |
851 Yishun Street 81 #11-56 Singapore
760851 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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Offices &
Factories
|
|
Office |
|
Address: |
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Production
Information
l
Subject is a flavouring extract company
l
Subject is engaged in manufacture of
additive and flavor for food and cigarettes.
Purchase
Information
l
Subject purchases both at home and
abroad and It is introduced that subject imports raw materials mainly from
Sales
Information
l
Subject is engaged in sales of additives and flavor for food and cigarettes
l
Subject’s products are both sold in domestic and
overseas market and it is introduced that subject has an office in Guangzhou,
Guangdong, China to do the distribution in China and it markets its products
and services to about 9 countries in Asia.
l
Subject’s major customers are food and cigarette
manufacturers, etc
Purchase
Domestic Markets
|
Products |
Payment Terms |
Proportion |
|
Raw materials,
etc |
COD, Credit
Sales, etc |
100% |
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Raw materials,
etc |
CBD, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Additive, Flavor,
Etc |
COD, CBD, etc |
100% |
Overseas Markets
|
Product |
Sales Terms |
Proportion |
|
Additive, Flavor,
Etc |
CBD, etc |
100% |
Notes: Subject’s settlement currency for export is
generally USD.
Unit: SGD
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|
|
|
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|
1,857,177 |
1,168,726 |
927,774 |
|
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Total
Current Assets |
1,805,706 |
1,080,973 |
806,169 |
|
Total
Non-Current Assets f.k.a. [Fixed
And Others] |
51,471 |
87,753 |
121,605 |
|
Total
Liabilities |
715,205 |
1,025,070 |
885,492 |
|
Total
Current Liabilities |
685,035 |
985,612 |
836,746 |
|
Total
Non-Current Liabilities |
30,170 |
39,458 |
48,746 |
|
Total
Equity f.k.a [Shareholder's Funds] |
1,141,972 (USD 935,618) |
143,656 (USD 117,697) |
42,282 (USD 34,642) |
|
Paid-Up
Capital |
875,000 |
35,000 |
35,000 |
|
Share
Capital |
- |
- |
- |
|
Other
Reserves, Total f.k.a. [Reserves] |
266,972 |
108,656 |
7,282 |
|
Retained
Earnings/(Accumulated Loss) |
0 |
0 |
0 |
(As of 2012.09, 1 SGD = 0.8193 USD)
Unit: SGD
|
|
~ |
~ |
~ |
|
Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
1,930,388 (USD 1,581,567) |
1,349,806 (USD 1,105,896) |
657,534 (USD 538,718) |
|
Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
196,893 |
121,803 |
11,057 |
|
Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
158,316 |
158,316 |
7,282 |
|
Net Income/(Loss) From Extraordinary And
Non-Operating Items |
0 |
0 |
0 |
|
Profit/(Loss) After Tax and Extraordinary Items |
158,316 (USD 129,708) |
101,374 (USD 83,056) |
7,282 (USD 5,966) |
(As of 2012.09, 1 SGD = 0.8193 USD)
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|
~ |
~ |
~ |
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Earning Capacity |
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Rate of Net Profit on Sales (%) |
8.20 |
7.51 |
1.11 |
|
Return of Investment (%) |
8.52 |
8.67 |
0.78 |
|
Return of Shareholder's Funds (%) |
13.86 |
70.57 |
17.22 |
|
Total Assets Turnover (%) |
1.04 |
1.15 |
0.71 |
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Financial Stability |
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|
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Current/Working Capital Ratio (%) |
2.64 |
1.10 |
0.96 |
|
Proprietary Ratio (%) |
61.49 |
12.29 |
4.56 |
|
Total Debt to Equity Ratio (%) |
38.51 |
87.71 |
95.44 |
In Singapore, Limited Exempt Private Companies are not obligated to submit
their financial statements to the local registry. We did not find the latest
financials of subject from the local registry, the subject also declined to disclose
such information due to the confidentiality reason.
And the informaiton above is what we can obtain from all of our available
sources.
|
Name: |
DBS Bank Ltd. |
|
Name: |
Y C TAN & CO |
|
Position: |
Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.