MIRA INFORM REPORT
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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
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Name : |
INNOVESCO PTE LTD |
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Registered Office : |
7500A Beach Road, #07-304, The Plaza Singapore 199591 |
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Country : |
Singapore |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
11.08.2001 |
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Com. Reg. No.: |
200105364G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of steel products |
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No. of Employees
: |
About 5 Employees |
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 : |
Small Company |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Singapore |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
|
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 |
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Company Name: |
Innovesco Pte Ltd |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
Notes:
The exact subject’s address is as above mentioned.
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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:: |
2001-8-11 |
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Registered
Number: |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 1,000,000.00
(USD 786,900.00) (As of 2012.1, 1
SGD = 0.7869 USD) |
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Paid-up Capital: |
SGD 1,000,000.00
(USD 786,900.00) = 1,000,000 Shares@1
SGD |
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Legal Form: |
Private Limited
Liability Company |
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Principal
Activities: |
Trader of steel
products 46900 Imp &
exp & dealers of ferrous & non-ferrous metals & industrial raw
materials 96099 Machinery parts,
tools, apparatus, chemical, rubber, plastics & medical goods |
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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: |
2011-10-8 |
Subject was incorporated on 2001-8-11 with registered number
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Subscription Amount |
Proportion of Investment (%) |
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|
Arun Jain |
1 |
0.01% |
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Kanak Jain |
999,999 |
99.99% |
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Total |
1,000,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Arun Jain |
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ID Number: |
S2665476I |
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Address: |
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Nationality: |
Singapore P.R. |
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2 |
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Name: |
Kanak Jain |
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ID Number: |
S |
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Address: |
12 Amber Gardens
#09-08 Maryland Park Singapore 439959 |
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Nationality: |
Singapore P.R. |
Core Management
Detailed
Information of Management:
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1 |
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Name: |
Arun Jain |
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Position: |
Director |
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ID Number: |
S2665476I |
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Address: |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2001-8-11 |
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2 |
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Name: |
Kanak Jain |
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Position: |
Director |
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ID Number: |
S |
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Address: |
12 Amber
Gardens, #09-08, Maryland Park Singapore 439959 |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2001-8-11 |
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3 |
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Name: |
Kanak Jain |
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Position: |
Secretary |
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ID Number: |
S |
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Address: |
12 Amber Gardens,
#09-08, Maryland Park Singapore 439959 |
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Nationality: |
Singapore P.R. |
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Date of
Appointment: |
2004-5-25 |
Offices
& Factories
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|
Office |
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Address: |
Purchase
l
The subject purchases steel products.
l
Subject has a large proportion for import.
Sales
Information
l
Subject is a trader of steel products.
l
Subject sells to foreign markets.
l
Subject’s main market is Asia, Europe, etc.
Purchase
Domestic Markets
|
Products |
Payment Terms |
Proportion |
|
Steel products |
COD, CBD, etc. |
100% |
Overseas Markets
|
Products |
Payment Terms |
Proportion |
|
Steel products |
CBD, etc. |
100% |
Domestic Markets
Notes: Subject seldom sells to domestic markets.
Overseas Markets
|
Product |
Sales Terms |
Proportion |
|
Steel products |
CBD, etc. |
100% |
Unit: SGD
|
Date |
2006 |
|
Revenue f.k.a [Sales Turnover And Other Operating Revenues] |
24,119,926.00 |
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Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
139,422.00 |
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Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
120,256.00 |
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Net Income/(Loss) From Extraordinary And Non-Operating
Items |
0.00 |
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Profit/(Loss) After Tax and Extraordinary Items |
120,256.00 |
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Total Assets |
5,069,216.00 |
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Total Current Assets |
5,039,816.00 |
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Total Non-Current Assets f.k.a. [Fixed And Others] |
29,400.00 |
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Total Liabilities |
4,102,658.00 |
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Total Current Liabilities |
4,102,658.00 |
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Total Non-Current Liabilities |
0.00 |
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Total Equity f.k.a [Shareholder's Funds] |
966,558.00 |
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Paid-Up Capital |
600,000.00 |
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Other Reserves, Total f.k.a. [Reserves] |
366,558.00 |
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Retained Earnings/(Accumulated Loss) |
0.00 |
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Date |
2006 |
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Rate of Net Profit on Sales (%) |
0.50 |
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Return of Investment (%) |
2.37 |
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Return of Shareholder's Funds (%) |
12.44 |
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Total Assets Turnover (%) |
4.76 |
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Current/Working Capital Ratio (%) |
1.23 |
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Proprietary Ratio (%) |
19.07 |
|
Name: |
T Ravi & Co. |
Charges
|
Charge 1 |
|
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Charge Number: |
C200700611 |
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Date of
Registration: |
2007-1-22 |
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Name: |
DBS Bank Ltd. |
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Amount Secured: |
All Monies |
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Charge 2 |
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Charge Number: |
C200707314 |
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Date of
Registration: |
2007-9-5 |
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Name: |
UCO Bank |
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Amount Secured: |
All Monies |
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Charge 3 |
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Charge Number: |
C201007478 |
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Date of
Registration: |
2010-8-25 |
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Name: |
Malayan Banking
Berhad |
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Amount Secured: |
All Monies |
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Charge 4 |
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Charge Number: |
C201110495 |
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Date of
Registration: |
2011-8-22 |
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Name: |
Malayan Banking Berhad |
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Amount Secured: |
All Monies |
Notes: The man who answered the telephone declined to introduce his name.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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 |
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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.