|
Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
GRT HOLDING PTE. LTD. |
|
|
|
|
Formerly Known As : |
ESE RESOURCE SINGAPORE PTE. LTD. (10/10/2009) |
|
|
|
|
Registered Office : |
7, Temasek Boulevard, 08-05, Suntec Tower One, 038987 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
12.06.2008 |
|
|
|
|
Com. Reg. No.: |
200811608-R |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
General Wholesale (The staff from the registered office refused to
disclose any information the SC's operation.) |
|
|
|
|
No. of Employees : |
Not Available |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 0.8% in 2009 as a result of the global financial crisis, but
rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to
5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports
during the second European recession. Over the longer term, the government
hopes to establish a new growth path that focuses on raising productivity,
which has sunk to an average of about 1.0% 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 |
|
REGISTRATION NO. |
: |
200811608-R |
|
COMPANY NAME |
: |
GRT HOLDING PTE. LTD. |
|
FORMER NAME |
: |
ESE RESOURCE SINGAPORE PTE. LTD. (10/10/2009) |
|
INCORPORATION DATE |
: |
12/06/2008 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
7, TEMASEK BOULEVARD, 08-05, SUNTEC TOWER ONE, 038987, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
7, TEMASEK BOULEVARD, 08-05, SUNTEC TOWER ONE, 038987, SINGAPORE. |
|
TEL.NO. |
: |
65-68372705 |
|
FAX.NO. |
: |
65-68372145 |
|
CONTACT PERSON |
: |
ZHOU ZHIJUAN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
GENERAL WHOLESALE |
|
ISSUED AND PAID UP CAPITAL |
: |
2,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 2,000,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
BANKER (S) |
|
UNITED OVERSEAS BANK LIMITED |
|
STAFF STRENGTH |
: |
8 [2013] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The SC is an exempt private company whose shares are not held by any
corporate body and has no more than 20 shareholders who are all natural
persons. An exempt company is a type of private limited company. 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. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the SC has to file in
a document duly signed by its director in charge of its finance and the company
secretary stating that the SC is able to meet all its obligations as and when
they fall due. The SC is not required to have their accounts audited. However,
the SC will prepare unaudited accounts for purposes of AGMs and filing with
Registry Office if it is unable to meet all its obligations as and when they
fall due .
The SC is principally engaged in the (as a / as an) general wholesale.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. ZHOU ZHIJUAN + |
31, AMBER ROAD, 07-06, SEA VIEW, THE, 439943, SINGAPORE. |
G6295847U |
1,500,000.00 |
75.00 |
|
WU GAOCONG + |
SUITE 31-401, XUNYUANLI, 2AVE, TEDA TIANJIN, CHINA. |
G30874818 |
500,000.00 |
25.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
2,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
TANG SHUMEI |
|
Address |
: |
16A, CHEOW KENG ROAD, 429473, SINGAPORE. |
|
IC / PP No |
: |
S2735861F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/08/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
WU GAOCONG |
|
Address |
: |
SUITE 31-401, XUNYUANLI, 2AVE, TEDA TIANJIN, CHINA. |
|
IC / PP No |
: |
G30874818 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
10/10/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. ZHOU ZHIJUAN |
|
Address |
: |
31, AMBER ROAD, 07-06, SEA VIEW, THE, 439943, SINGAPORE. |
|
IC / PP No |
: |
G6295847U |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
12/06/2008 |
|
1) |
Name of Subject |
: |
ZHOU ZHIJUAN |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
K Y CHIK & ASSOCIATES |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
TANG SHUMEI |
|
|
IC / PP No |
: |
S2735861F |
|
|
Address |
: |
16A, CHEOW KENG ROAD, 429473, SINGAPORE. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
|
|
|
|
|
2) |
Name |
: |
BNP PARIBAS |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201005612 |
03/07/2010 |
N/A |
UNITED OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
|
C201103981 |
31/03/2011 |
N/A |
BNP PARIBAS |
N/A |
Unsatisfied |
|
C201111120 |
08/09/2011 |
N/A |
AGRICULTURAL BANK OF CHINA LIMITED |
N/A |
Unsatisfied |
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the SC's suppliers.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose any information the
SC's clientele.
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
8 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) general wholesale.
The staff from the registered office refused to disclose any information the
SC's operation.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68372705 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
7 TEMASEK BOULEVARD, 08-05, SUNTEC TOWERS SINGAPORE 038987 |
|
Current Address |
: |
7, TEMASEK BOULEVARD, 08-05, SUNTEC TOWER ONE, 038987, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
On 1st August 2013 we contacted one of the staff from the registered office and
she only provided limited information on the SC.
|
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 |
|
Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
|
Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4%
growth in 2011. Growth of the retail trade segment also moderated to 2.0%,
from 3.2% in the year 2011. |
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter
of 2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell by
11% in the fourth quarter of 2012, after contracting by 6.1% in the third
quarter. The sales of several discretionary items also declined in the fourth
quarter. Besides, the sales of optical goods & books in 2012 fell by
3.6%, while the sales of telecommunications apparatus & computers
declined by 1.4%. |
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
Incorporated in 2008, the SC is an Exempt Private company, focusing on general
wholesale. 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. However,
it has yet to enjoy a stable market shares as it need to compete many well
established players in the same field. With a weak shareholders' backing, the
SC's capital position is weak. Inadequate capital may be a constraint to the SC
as it limits its ability to expand its business in future. The capital standing
of the SC is fair.
Being a small company, the SC's business operation is supported by 8 employees.
Overall, we regard that the SC's management capability is average.
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 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.
In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.