|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HJ RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
133 Cecil Street, 16-01, Keck Seng Tower,, 069535, |
|
|
|
|
Country : |
Singapore. |
|
|
|
|
Date of Incorporation : |
03.05.2011 |
|
|
|
|
Com. Reg. No.: |
201110499-R |
|
|
|
|
Legal Form : |
Singapore Exempt Private |
|
|
|
|
Line of Business : |
Trading of Logs, Wood Products |
|
|
|
|
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% 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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
201110499-R |
|
COMPANY NAME |
: |
HJ RESOURCES
PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
03/05/2011 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
SINGAPORE EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
133 CECIL STREET, 16-01, KECK SENG TOWER,,
069535, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
9 RAFFLES PLACE, REPUBLIC PLAZA, LEVEL 58,
048619, SINGAPORE. |
|
TEL.NO. |
: |
65-68231249 |
|
FAX.NO. |
: |
65-68231377 |
|
CONTACT PERSON |
: |
JAYA ( STAFF ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TRADING OF LOGS, WOOD PRODUCTS |
|
AUTHORISED CAPITAL |
: |
8,000.00 ORDINARY SHARE, OF A VALUE OF SGD
8,000.00 |
|
ISSUED AND PAID UP CAPITAL |
: |
8,000.00 ORDINARY SHARE, OF A VALUE OF SGD
8,000.00 |
|
|
|
|
|
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) trading of logs,
wood products.
The major shareholder(s) of the SC are shown
as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHAKRAPANI PUTREVU + |
8 BOON LAY DRIVE, 03-24, SUMMERDALE,
649928 |
S6962123F |
4,000.00 |
50.00 |
|
PAPPU KARTHIK + |
49-36-4, AKKAYYAPALEM VISAKHAPATNAM,
530016, INDIA. |
F2298792 |
2,000.00 |
25.00 |
|
KIRAN DADI + |
17-3-42/4 DADIVARI STREET, GAVARAPALEM
ANAKAPALLI, VISAKHAPATNAM-DIST, INDIA. |
H7716074 |
2,000.00 |
25.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
8,000.00 |
100.00 |
|
|
|
|
============ |
===== |
DIRECTOR 1
|
Name Of Subject |
: |
PAPPU KARTHIK |
|
Address |
: |
49-36-4, AKKAYYAPALEM VISAKHAPATNAM,
530016, INDIA. |
|
IC / PP No |
: |
F2298792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
11/07/2011 |
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
KIRAN DADI |
|
Address |
: |
17-3-42/4 DADIVARI STREET, GAVARAPALEM
ANAKAPALLI, VISAKHAPATNAM-DIST, INDIA. |
|
IC / PP No |
: |
H7716074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
11/07/2011 |
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
CHAKRAPANI PUTREVU |
|
Address |
: |
8 BOON LAY DRIVE, 03-24, SUMMERDALE,
649928 |
|
IC / PP No |
: |
S6962123F |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
03/05/2011 |
|
|
|
|
|
1) |
Name of Subject |
: |
JAYA |
|
|
Position |
: |
STAFF |
No Auditor found in our databank
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC refused to disclose its clientele information.
|
Goods Traded |
: |
LOGS, WOOD PRODUCTS
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of logs, wood
products.
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 |
: |
65-68231249 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LEVEL 58, REPUBLIC PLAZA 9, RAFFLES PLACE,
SINGAPORE 048619 |
|
Current Address |
: |
9 RAFFLES PLACE, REPUBLIC PLAZA, LEVEL 58,
048619, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 14th January 2013 we contacted one of the staff from the SC and she provided
some information on the SC.
The SC refused to disclose its number of employees.
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 : |
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 : TRADING
The 1st Quarter 2012 total retail sales is expected to grow from a forecast
SGD44.45bn (US$35.28bn) in 2011 to SGD51.50bn (US$46.82bn) by 2015. Singapore
lacks the advantage of a massive consumer base, its low unemployment rate, the
rapid influx of foreign immigrants and increasing visitor arrivals will
continue to instill dynamism into the local retail scene and further buoy
consumer spending.
The February 2011 budget provided a boost to consumer spending power, with the
SGD6.6bn (US$5.2bn) Total Benefits package earmarked for households in
2011-2012 expected to have positive implications for the Singapore consumer.
In terms of retail sub-sectors, the over-the-counter pharmaceutical sector to
be worth US$0.15bn in 2011 and for sales to increase by more than 35% to
US$0.20bn by 2015. Sales of consumer electronics products are expected to
increase by nearly 24%, from US$3.96bn in 2011 to US$4.90bn by the end of the
forecast period on the back of strong demand for high-end products such as
multimedia notebooks, 3G phones and smartphones.
The food retail segment will have a market share of 21.3% in 2011, when the
sub-sector is forecast to be worth US$7.50bn. Sales are expected to grow to
US$8.11bn by 2015.
Mass grocery retail sales are forecast to be US$3.46bn in 2011 and to grow by
more than 25% to US$4.45bn by 2015, more than three times the rate of growth
for overall food sales. This would take mass grocery retail's share of the
overall food market from 45.7% in 2011 to 52.9% by the end of the forecast
period.
Retail sales of Asian countries in 2011 are forecast US$3.13trn. China and
India are predicted to account for nearly 91% of regional retail sales in 2011,
and by 2015 their share of the regional market is expected to be more than 92%.
Growth in regional retail sales for 2011-2015 is forecast at 71.6%, an annual
average 14.4%. India should experience the most rapid rate of growth, followed
by China. Singapore's market share of 1.1% in 2011 is forecast to fall to 0.8%
by 2015.
OVERALL INDUSTRY
OUTLOOK : AVERAGE GROWTH
Incorporated in 2011, the SC is an exempt private company, focusing on trading
of logs, wood products. The SC has been in business for almost 2 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.
We regard that the SC's management capability is weak.
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. However, The SC should adopt more competitive
strategies to retain its business position in the market.
Based on the above unfavourable condition, we regard granting credit to the SC
to be quite risky. Hence, credit is not recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
UK Pound |
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.