|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LIANFENG INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
30, Cecil Street, 20-01, Prudential Tower, 049712 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
11.10.2011 |
|
|
|
|
Com. Reg. No.: |
201130625-H |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Wholesale of Metals and Metal Ores |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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. |
: |
201130625-H |
||||
|
COMPANY NAME |
: |
LIANFENG INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
11/10/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
30, CECIL STREET, 20-01, PRUDENTIAL TOWER, 049712, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
30 CECIL STREET, 20-01, PRUDENTIAL TOWER, 049712, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64380630 |
||||
|
FAX.NO. |
: |
65-65895301 |
||||
|
CONTACT PERSON |
: |
CHRISTOPHER DAVIDSON CAMPBELL ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF METALS AND METAL ORES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
6,000,001.00 ORDINARY SHARE, OF A VALUE OF SGD 6,000,001.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
WEAK |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
POOR |
||||
|
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) wholesale of metals
and metal ores.
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WU YI + |
31, CAIRNHILL CIRCLE, 19-03, CAIRNHILL RESIDENCES, 229774, SINGAPORE. |
G5270582M |
6,000,001.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
6,000,001.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHRISTOPHER DAVIDSON CAMPBELL |
|
Address |
: |
31, CAIRNHILL CIRCLE, 19-03, CAIRNHILL RESIDENCES, 229774, SINGAPORE. |
|
IC / PP No |
: |
G5274056N |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
08/03/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
GAO FENG |
|
Address |
: |
ROOM 28806, HUBINGGUOJI, ZHANGJIAGANG CITY, JIANGSU, CHINA. |
|
IC / PP No |
: |
G54467523 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
27/05/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
WU YI |
|
Address |
: |
31, CAIRNHILL CIRCLE, 19-03, CAIRNHILL RESIDENCES, 229774, SINGAPORE. |
|
IC / PP No |
: |
G5270582M |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
11/10/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
CHRISTOPHER DAVIDSON CAMPBELL |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
HU KEK CHAY |
|
|
IC / PP No |
: |
S0014451G |
|
|
|
|
|
|
|
Address |
: |
24, LORONG HOW SUN, HOW SUN GARDEN, 536521, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LTD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
BANK OF CHINA |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
4) |
Name |
: |
ABN AMRO BANK N.V. |
|
|
|
|
|
|
|
|
|
|
|
5) |
Name |
: |
BANK OF CHINA LIMITED |
|
|
|
|
|
|
|
|
|
|
|
6) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
|
|
|
|
|
|
|
|
|
|
7) |
Name |
: |
ING BANK N.V. |
|
|
|
|
|
|
|
|
|
|
|
8) |
Name |
: |
BNP PARIBAS |
|
|
|
|
|
|
|
|
|
|
|
9) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
|
|
|
|
|
|
|
|
|
|
|
10) |
Name |
: |
RAIFFEISEN BANK INTERNATIONAL AG |
|
|
|
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201205308 |
15/05/2012 |
N/A |
ABN AMRO BANK N.V. |
N/A |
Unsatisfied |
|
C201211038 |
26/09/2012 |
N/A |
UNITED OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
|
C201211092 |
27/09/2012 |
N/A |
BANK OF CHINA LIMITED |
N/A |
Unsatisfied |
|
C201212888 |
07/11/2012 |
N/A |
UNITED OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
|
C201212988 |
09/11/2012 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
N/A |
Unsatisfied |
|
C201212995 |
09/11/2012 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
N/A |
Unsatisfied |
|
C201214811 |
17/12/2012 |
N/A |
ING BANK N.V. |
N/A |
Unsatisfied |
|
C201215125 |
26/12/2012 |
N/A |
BNP PARIBAS |
N/A |
Unsatisfied |
|
C201301499 |
28/01/2013 |
N/A |
ABN AMRO BANK N.V., HONG KONG BRANCH |
N/A |
Unsatisfied |
|
C201303811 |
13/03/2013 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
N/A |
Unsatisfied |
|
C201303812 |
13/03/2013 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
N/A |
Unsatisfied |
|
C201304951 |
10/04/2013 |
N/A |
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. (RABOBANK
INTERNATIONAL), HONGKONG BRANCH |
N/A |
Unsatisfied |
|
C201305850 |
29/04/2013 |
N/A |
RAIFFEISEN BANK INTERNATIONAL AG |
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 SC refused to disclose its suppliers information.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC refused to disclose its clientele information.
|
Goods Traded |
: |
METALS AND METAL ORES
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) wholesale of metals and
metal ores.
The SC refused to disclose any information on its operation.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64380630 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
20-01 PRUDENTIAL TOWER, 30 CECIL STREET, SINGAPORE 049712 |
|
Current Address |
: |
30 CECIL STREET, 20-01, PRUDENTIAL TOWER, 049712, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
|
|
||
|
|
||
Other Investigations
On 28th November 2013 we contacted one of the staff from the SC and she
provided some information on the SC.
She refused to disclose the SC's number of employees and banker.
|
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 : |
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. |
|
|
|
|
|
|
|
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
Incorporated in 2011, the SC is a Exempt Private company, focusing on
wholesale of metals and metal ores. The SC has been in business for less than
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.
Presently, issued and paid up capital of the SC stand at SGD6,000,001.
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|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.