|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
199102016-W
|
|
COMPANY NAME
|
:
|
HUASING CONSTRUCTION & TRADING PTE LTD
|
|
FORMER NAME
|
:
|
HUASING TRANSPORTATION & TRADING PTE LTD (08/02/1999)
MUSTIKA SARI TRADING PTE LTD (03/08/1994)
|
|
INCORPORATION DATE
|
:
|
04/05/1991
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
9, SUNGEI KADUT STREET 4, SUNGEI KADUT INDUSTRIAL ESTATE, 729039,
SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
9, SUNGEI KADUT STREET 4, SUNGEI KADUT INDUSTRIAL ESTATE, 729039,
SINGAPORE.
|
|
TEL.NO.
|
:
|
65-64636698
|
|
FAX.NO.
|
:
|
65-63621217
|
|
CONTACT PERSON
|
:
|
LEE CHIN SENG ( MANAGING DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF BUILDING CONSTRUCTION EQUIPMENT AND OTHER RELATED SERVICE
|
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
2,500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,500,000.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
40 [2013]
|
|
BANKER (S)
|
:
|
|
UNITED
OVERSEAS BANK LIMITED
DBS BANK LTD
|
|
|
|
LITIGATION
|
:
|
TRACED
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
HIGH
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
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) trading of building construction
equipment and other related service.
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
LEE CHIN SENG +
|
9, WEST COAST WALK, 24-18, PARC CONDOMINIUM, THE, 127160, SINGAPORE.
|
S6846956B
|
1,782,000.00
|
71.28
|
|
NEO SIO HOON +
|
9, WEST COAST WALK, 24-18 PARC CONDOMINIUM, THE, 127160, SINGAPORE.
|
S7011649I
|
718,000.00
|
28.72
|
|
|
|
|
---------------
|
------
|
|
|
|
|
2,500,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Directo
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
NEO SIO HOON
|
|
Address
|
:
|
9, WEST COAST WALK, 24-18 PARC CONDOMINIUM, THE, 127160, SINGAPORE.
|
|
IC / PP No
|
:
|
S7011649I
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
01/02/1999
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
LEE CHIN SENG
|
|
Address
|
:
|
9, WEST COAST WALK, 24-18, PARC CONDOMINIUM, THE, 127160, SINGAPORE.
|
|
IC / PP No
|
:
|
S6846956B
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
22/02/2002
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LEE CHIN SENG
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
ZHEN PUBLIC ACCOUNTING FIRM
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
LEE YOE KONG
|
|
|
IC / PP No
|
:
|
S1375436E
|
|
|
|
|
|
|
|
Address
|
:
|
351, CORPORATION DRIVE, 06-524, 610351, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
LEE CHIN SENG
|
|
|
IC / PP No
|
:
|
S6846956B
|
|
|
|
|
|
|
|
Address
|
:
|
9, WEST COAST WALK, 24-18, PARC CONDOMINIUM, THE, 127160, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
UNITED OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200906738
|
22/10/2009
|
N/A
|
STANDARD CHARTERED BANK
|
N/A
|
Unsatisfied
|
|
C201205178
|
11/05/2012
|
N/A
|
DBS BANK LTD
|
N/A
|
Unsatisfied
|
|
C201213067
|
12/11/2012
|
N/A
|
UNITED OVERSEAS BANK LIMITED
|
N/A
|
Unsatisfied
|
|
C201305813
|
29/04/2013
|
N/A
|
UNITED OVERSEAS BANK LIMITED
|
N/A
|
Unsatisfied
|
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
|
:
|
26865
|
|
|
|
|
|
|
Year
|
:
|
2008
|
Place
|
:
|
SINGAPORE
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
15/10/2008
|
|
|
|
|
|
|
|
|
|
Solicitor
|
:
|
ARIDAS VYTILINGAM
|
|
|
|
|
|
|
|
|
|
Solicitor Ref
|
:
|
AA17518/2008/( HMS)/(LIT)
|
|
|
|
|
|
|
|
|
|
Solicitor Firm
|
:
|
ARIDAS & ASSOCIATES
|
|
|
|
|
|
|
Plaintiff
|
:
|
CHUA HENG LYE (CAI XINGLAI)
|
|
|
|
|
Defendants
|
:
|
|
HUASING CONSTRUCTION & TRADING PTE LTD (199102016)
|
|
9, SUNGEI KADUT STREET 4, SUNGEI KADUT INDUSTRIAL ESTATE, 729039, SINGAPORE.
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
2440
|
|
|
|
|
|
|
|
|
|
Nature of Claim
|
:
|
SGD
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
TORT - NEGLIGENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Code No
|
:
|
99
|
Case No
|
:
|
19277
|
|
|
|
|
|
|
Year
|
:
|
2009
|
Place
|
:
|
SINGAPORE
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
25/06/2009
|
|
|
|
|
|
|
|
|
|
Solicitor Ref
|
:
|
DS/30156/0209/LHS
|
|
|
|
|
|
|
|
|
|
Solicitor Firm
|
:
|
DAVID SIOW CHUA & TAN LLC
|
|
|
|
|
|
|
Plaintiff
|
:
|
HUATIONG CONTRACTOR PTE LTD
|
|
|
|
|
Defendants
|
:
|
|
HUASING CONSTRUCTION & TRADING PTE LTD (199102016)
|
|
9, SUNGEI KADUT STREET 4, SUNGEI KADUT INDUSTRIAL ESTATE, 729039,
SINGAPORE.
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
25698.35
|
|
|
|
|
|
|
|
|
|
Nature of Claim
|
:
|
SGD
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
TORT - NEGLIGENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
Percentage
|
:
|
40%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
60%
|
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
60%
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
40%
|
|
Export Market
|
:
|
ASIA PACIFIC
|
|
Credit Term
|
:
|
15 - 30 DAYS,AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
LETTER OF CREDIT (LC)
|
|
Type of Customer
|
:
|
INDUSTRIAL SECTOR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
BUILDING CONSTRUCTION EQUIPMENT
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2013
|
2012
|
2011
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
40
|
40
|
38
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of building
construction equipment and other related service.
The SC specialise in:
- Import & export of heavy construction equipment and machineries.
- Rental of all types of construction equipments & machineries including
excavators (standard, long & super arms), cranes, wheel loaders, 10 tons
vibrator roller, bull dozers, telescopic arms, motor grader, dump trucks,
tippers, sheet piling machines, etc.
- Civil engineering works, demolition works, drainage works, sub-structure
works earth works & external works.
- Material handling services including loading & unloading and
transportation services.
- Supply of all building materials like sand, aggregate and recycled
aggregate.
- Logistic services like trailers, 12ft wide low bedded, transport all types
of equipments, tippers - EPU/SER/11 - S9 etc.
- Sheet piling/strutting systems, pre-boring for sheet pile, soldier pile,
etc.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
006564636698
|
|
Current Telephone Number
|
:
|
65-64636698
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO 9 SUNGEI KADUT STREET 4 SINGAPOUR 729039 SINGAPORE
|
|
Current Address
|
:
|
9, SUNGEI KADUT STREET 4, SUNGEI KADUT INDUSTRIAL ESTATE, 729039,
SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts. However they have rejected our request in view
of the confidentiality of the documents.
|
|
|
Other Investigations
We contacted one
of the staff from HR Department of SC and she provided some information on
the SC.
The address provided is incorrect.
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 :
|
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 ANALYSIS
|
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
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CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1991, the SC is a Exempt Private company, focusing on
trading of building construction equipment and other related service. With over
2 decades of experience in the business, the SC has fairly rich experiences
in the business and has achieved a certain market share. The capital
standing of the SC is fair. With an adequate share capital, the SC has the
potential of expanding its business in future.
Over the years, the SC has established an extensive clientele base in the
market. Besides catering to the local market, the SC has penetrated into
other countries. With the contribution of both local and overseas
customers, the SC is likely to be exposed to lower commercial risk. Hence,
we believe that the SC has better business expansion opportunities in the
future. The SC is operating on a medium scale and it has approximately 40
employees in its business operations. 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 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.
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.
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FINANCIAL ACCOUNT
No latest financial accounts are available at the Registry Office.
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