|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
198500990-C
|
|
COMPANY NAME
|
:
|
LASER PRINTING INDUSTRIES PTE LTD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
30/04/1985
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
111 KALLANG WAY 2, 349143, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
125 KALLANG WAY 2, , 349143, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-67466111
|
|
FAX.NO.
|
:
|
65-67466388
|
|
WEB SITE
|
:
|
WWW.LASERSIN.COM.SG
|
|
CONTACT PERSON
|
:
|
LEE FON HIAN ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
PRINTING OF CONTINUOUS AND FAN-FOLD FORMS
|
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
2,618,000.00 ORDINARY SHARE, OF A VALUE
OF SGD 2,618,000.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
62 [2013]
|
|
BANKER (S)
|
:
|
|
MALAYAN BANKING BHD
OVERSEA-CHINESE BANKING CORPORATION LTD
OVERSEAS UNION BANK LTD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL 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) printing of continuous and fan-fold forms.
The major
shareholder(s) of the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
QUAH POH KENG +
|
66 GOODMAN ROAD, 439029, SINGAPORE.
|
S1535692H
|
1,695,155.00
|
64.75
|
|
LEE FON HIAN +
|
21A ST PATRICK ROAD, 424143, SINGAPORE.
|
S0585719H
|
922,845.00
|
35.25
|
|
|
|
|
---------------
|
------
|
|
|
|
|
2,618,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
LEE FON HIAN
|
|
Address
|
:
|
21A ST PATRICK ROAD, 424143, SINGAPORE.
|
|
IC / PP No
|
:
|
S0585719H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment
|
:
|
30/04/1985
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
QUAH POH KENG
|
|
Address
|
:
|
66 GOODMAN ROAD, 439029, SINGAPORE.
|
|
IC / PP No
|
:
|
S1535692H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment
|
:
|
30/04/1985
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LEE FON HIAN
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
LIM CHEE YONG & CO
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
CHUA LEE SAN
|
|
|
IC / PP No
|
:
|
S0137143F
|
|
|
|
|
|
|
|
Address
|
:
|
22, SHAMAH TERRACE, 597574, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
OVERSEA-CHINESE BANKING CORPORATION LTD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
OVERSEAS UNION BANK LTD
|
|
|
|
|
|
|
The SC enjoys normal banking routine with
above mentioned banker(s). No adverse record was found during our
investigation.
|
ENCUMBRANCE
(S)
ENCUMBRANCE 1
|
Date of Creation
|
:
|
03/11/1998
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
OVERSEAS UNION BANK LIMITED
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 199805570 In The
Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
17/06/1996
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
OVERSEAS UNION BANK LIMITED
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 9603400 In The
Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
20/01/2009
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
OVERSEA-CHINESE BANKING CORPORATION
LIMITED
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200900514 In The
Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
03/10/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
MALAYAN BANKING BERHAD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C201211320 In The
Register of Charges
|
LEGAL
CHECK AGAINST SC
* 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.
PAYMENT
RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
TELEGRAPHIC TRANSFER (TT)
CHEQUES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Services
|
:
|
PRINTING OF CONTINUOUS AND FAN-FOLD FORMS
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2013
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
62
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) printing of continuous
and fan-fold forms.
The SC is one of the leading label converter in South East Asia.
The SC has expanded to a 22,000 sq feet terrace factory and have more than 20
printing machines.
CURRENT
INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
65-67466111
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
111 KALLANG WAY 2, SINGAPORE 349143
|
|
Current Address
|
:
|
125 KALLANG WAY 2, , 349143, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
|
Other Investigations
we contacted one of the staff from the SC and she provided some information
on the SC.
The SC had shifted from the address provided.
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 :
|
2006
|
2007
|
2008
|
2009
|
2010
|
|
|
|
|
|
|
|
|
Population (Million)
|
4.40
|
4.58
|
4.84
|
4.98
|
5.08
|
|
Gross Domestic Products ( % )
|
8.7
|
8.8
|
1.5
|
<0.8>
|
14.5
|
|
Consumer Price Index
|
1.0
|
2.1
|
6.6
|
0.6
|
2.8
|
|
Total Imports (Million)
|
378,924.1
|
395,979.7
|
450,892.6
|
356,299.3
|
423,221.8
|
|
Total Exports (Million)
|
431,559.2
|
450,627.7
|
476,762.2
|
391,118.1
|
478,840.7
|
|
|
|
|
|
|
|
|
Unemployment Rate (%)
|
2.7
|
2.3
|
2.2
|
3.2
|
2.2
|
|
Tourist Arrival (Million)
|
9.75
|
10.28
|
10.12
|
9.68
|
11.64
|
|
Hotel Occupancy Rate (%)
|
85.2
|
87.0
|
81.0
|
75.8
|
85.6
|
|
Cellular Phone Subscriber (Million)
|
1.05
|
1.22
|
1.31
|
1.37
|
1.43
|
|
|
|
|
|
|
|
|
Registration of New Companies (No.)
|
21,495
|
25,903
|
25,327
|
26,414
|
29,798
|
|
Registration of New Companies (%)
|
10.2
|
20.5
|
<2.2>
|
4.3
|
12.8
|
|
Liquidation of Companies (No.)
|
8,980
|
9,226
|
10,493
|
22,393
|
15,126
|
|
Liquidation of Companies (%)
|
28.1
|
2.7
|
13.7
|
113.4
|
<32.5>
|
|
|
|
|
|
|
|
|
Registration of New Businesses (No.)
|
24,219
|
24,762
|
24,850
|
26,876
|
23,978
|
|
Registration of New Businesses (%)
|
3.17
|
2.24
|
0.36
|
8.15
|
<10.78>
|
|
Liquidation of Businesses (No.)
|
26,843
|
21,322
|
21,150
|
23,552
|
24,211
|
|
Liquidation of Businesses (%)
|
<52.3>
|
<20.6>
|
<0.8>
|
11.4
|
2.8
|
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.)
|
2,983
|
2,767
|
2,326
|
2,058
|
1,537
|
|
Bankruptcy Orders (%)
|
15.8
|
<7.2>
|
<15.9>
|
<11.5>
|
<25.3>
|
|
Bankruptcy Discharges (No.)
|
1,634
|
1,626
|
1,500
|
3,056
|
2,252
|
|
Bankruptcy Discharges (%)
|
<2.9>
|
<0.5>
|
<7.7>
|
103.7
|
<26.3>
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) :
|
|
|
|
|
|
|
Agriculture
|
|
|
|
|
|
|
Production of Principal Crops
|
3.91
|
5.26
|
<0.32>
|
3.25
|
<0.48>
|
|
Fish Supply & Wholesale
|
1.33
|
<3.91>
|
<6.31>
|
<1.93>
|
3.60
|
|
|
|
|
|
|
|
|
Manufacturing *
|
94.4
|
100.0
|
95.8
|
91.8
|
119.1
|
|
Food, Beverages & Tobacco
|
89.9
|
100.0
|
107.7
|
102.7
|
109.5
|
|
Textiles
|
119.9
|
100.0
|
92.6
|
75.0
|
62.8
|
|
Wearing Apparel
|
114.5
|
100.0
|
71.8
|
45.3
|
26.4
|
|
Leather Products & Footwear
|
100.3
|
100.0
|
84.7
|
52.6
|
54.1
|
|
Wood & Wood Products
|
107.1
|
100.0
|
88.8
|
68.3
|
70.0
|
|
Paper & Paper Products
|
92.5
|
100.0
|
98.8
|
93.3
|
103.7
|
|
Printing & Media
|
97.6
|
100.0
|
96.7
|
82.5
|
84.7
|
|
Crude Oil Refineries
|
100.2
|
100.0
|
101.0
|
86.1
|
85.4
|
|
Chemical & Chemical Products
|
93.8
|
100.0
|
95.1
|
90.4
|
109.9
|
|
Pharmaceutical Products
|
102.1
|
100.0
|
92.8
|
104.4
|
159.9
|
|
Rubber & Plastic Products
|
100.1
|
100.0
|
92.2
|
77.6
|
86.1
|
|
Non-metallic Mineral
|
113.1
|
100.0
|
83.1
|
79.1
|
79.7
|
|
Basic Metals
|
110.0
|
100.0
|
120.9
|
101.9
|
112.5
|
|
Fabricated Metal Products
|
97.8
|
100.0
|
95.0
|
85.2
|
97.2
|
|
Machinery & Equipment
|
83.9
|
100.0
|
97.4
|
85.8
|
117.7
|
|
Electrical Machinery
|
98.8
|
100.0
|
98.1
|
104.2
|
149.1
|
|
Electronic Components
|
96.1
|
100.0
|
93.0
|
85.1
|
115.5
|
|
Transport Equipment
|
85.3
|
100.0
|
106.7
|
100.2
|
99.3
|
|
|
|
|
|
|
|
|
Construction
|
46.60
|
45.60
|
45.90
|
<36.9>
|
14.20
|
|
Real Estate
|
12.9
|
40.8
|
<11.2>
|
1.4
|
21.3
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
Electricity, Gas & Water
|
<5.3>
|
11.00
|
<1.3>
|
1.70
|
4.00
|
|
Transport, Storage & Communication
|
6.00
|
8.50
|
11.60
|
3.90
|
12.80
|
|
Finance & Insurance
|
6.40
|
41.50
|
<5.9>
|
<16.4>
|
<0.4>
|
|
Government Services
|
13.50
|
3.80
|
17.40
|
4.50
|
9.70
|
|
Education Services
|
1.10
|
1.80
|
0.50
|
0.10
|
<0.9>
|
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production
(2007 = 100)
|
|
|
|
|
|
|
(Source : Department of Statistics)
|
|
|
|
|
|
INDUSTRY
ANALYSIS
|
INDUSTRY :
|
ECONOMY
|
|
|
|
|
|
|
According to Ministry of Trade and Industry (MTI), the Singapore economy is
expected to grow by 1.0 to 3.0% in 2012. Global economic conditions are
expected to remain subdued in 2012, with the outlook clouded by increased
uncertainty and financial volatility. In the advanced economies, final
demand is likely to be restrained by continued household deleveraging,
ongoing fiscal tightening as well as structural weaknesses in labour and
housing markets.
|
|
Although resilient domestic demand in emerging Asia will provide some support
to global demand, it will not fully mitigate the effects of an economic
slowdown in the advanced economies. Consequently, Singapore's
externally-oriented sectors such as electronics and wholesale trade will
continue to perform poorly, while the financial services sector will be
affected by heightened uncertainties in the external environment.
Nevertheless, there will be some modest support to growth from the
biomedical manufacturing cluster and tourism-related sectors. The former
will likely see increased production of active pharmaceutical ingredients
and biologics while the latter will benefit from rising visitor arrivals
from the region.
|
|
For the 4th quarter of 2011, growth in the Singapore economy will likely
weaken alongside deteriorating external macroeconomic conditions. Within
the manufacturing sector, the electronics cluster is expected to register a
lower level of output given the downturn in the global electronics cycle.
This in turn will have knock-on effects on the precision engineering
cluster and wholesale trade. The biomedical manufacturing (BMS) cluster is
expected to see a pullback in growth following the strong surge in the 3rd
quarter of 2011. In the financial services sector, activity in the core
financial intermediation will moderate and the sentiment-sensitive segments
are expected to continue to perform poorly.
|
|
The manufacturing sector expanded by 14.2 % on a year-on-year basis,
reversing from the 5.6 % decline in the preceding quarter. On a sequential
basis, the sector grew by an annualised rate of 11.7 %. This was largely
due to a rebound in biomedical manufacturing output, as some companies
switched to producing a higher value mix of pharmaceutical products. By
contrast, the electronics cluster continued to contract, as global demand
for semiconductor chips and other electronic components moderated.
|
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The construction sector grew marginally by 0.3 % on a year-on-year basis,
moderating from the 1.5 % growth in the preceding quarter. On a sequential
basis, the sector contracted by an annualised rate of 11.8 %, largely due
to a decline in private sector building activities.
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The wholesale and retail trade sector saw a small year-on-year decline of
0.2 %, mainly due to weakening export activities. Supported by air travel
demand, the transport and storage sector grew by 4.2 %, similar to the pace
of growth in the preceding quarter. On a sequential basis, growth momentum
in both sectors declined, by annualised rates of 0.6 % and 4.5 %
respectively.
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The financial services sector grew at 10.5 % on a year-on-year basis,
anchored by gains in domestic and offshore lending activities. However, the
business services sector registered a weak growth of 1.7 %, largely due to
a moderation in the real estate services segment. On a sequential basis,
both sectors grew marginally by 0.8 % and 0.9 % respectively.
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Supported by healthy visitor inflows, the hotels and restaurants sector and
the 'other services' industries (which include arts, entertainment and recreation
activities) grew by 5.6 % and 4.0 % respectively. However, on a sequential
basis, these sectors declined by 2.6 and 0.7 % respectively.
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Overall, the Singapore economy is expected to grow by around 5.0% in 2011
and by 1.0 to 3.0% in 2012.
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OVERALL INDUSTRY OUTLOOK : MARGINAL
GROWTH
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CREDIT RISK EVALUATION & RECOMMENDATION
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Incorporated in 1985, the SC is an Exempt Private company, focusing on printing
of continuous and fan-fold forms. 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.
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Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the SC to further
enhance its business in the near term. Being a moderate size company, the
SC has a total workforce of 62 employees in its business operations.
Overall, we regard that the SC's management capability is average. This
indicates that the SC has greater potential to improve its business
performance and raising income for the SC.
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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.
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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. Overall the SC
has a good control over its resources.
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The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the SC's future performance is very much depend
on its marketing strategies in order to retain its position in the market.
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In view of the above, we recommend credit be granted to the SC with close
monitoring.
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