|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MULTI AGRO IMPEX PTE LTD |
|
|
|
|
Registered Office : |
6, Shenton Way, 12-11b, 068809 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
10.05.2000 |
|
|
|
|
Com. Reg. No.: |
200004055-C |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Wood Products |
|
|
|
|
No. of Employees : |
6 |
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. |
: |
200004055-C |
|
COMPANY NAME |
: |
MULTI AGRO IMPEX
PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
10/05/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
6, SHENTON WAY, 12-11B, 068809, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
6 SHENTON WAY, TOWER 2, #12-11B, 068809, SINGAPORE. |
|
TEL.NO. |
: |
65-63240050 |
|
FAX.NO. |
: |
65-63243234 |
|
CONTACT PERSON |
: |
ARCHANA JAIN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF WOOD PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
1,350,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 1,350,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
6 [2013] |
|
BANKER (S) |
: |
BANK OF INDIA |
|
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) trading of wood
products.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ARCHANA JAIN + |
5, TANJONG RHU ROAD, 03-04, WATERSIDE, THE, 436882, SINGAPORE. |
S2688554Z |
675,000.00 |
50.00 |
|
VINOD KUMAR JAIN + |
5, TANJONG RHU ROAD, 03-04, WATERSIDE, THE, 436882, SINGAPORE. |
S2685293E |
675,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,350,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
ARCHANA JAIN |
|
Address |
: |
5, TANJONG RHU ROAD, 03-04, WATERSIDE, THE, 436882, SINGAPORE. |
|
IC / PP No |
: |
S2688554Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/05/2000 |
DIRECTOR 2
|
Name Of Subject |
: |
VINOD KUMAR JAIN |
|
Address |
: |
5, TANJONG RHU ROAD, 03-04, WATERSIDE, THE, 436882, SINGAPORE. |
|
IC / PP No |
: |
S2685293E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/05/2000 |
|
1) |
Name of Subject |
: |
ARCHANA JAIN |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
S. RENGANATHAN & CO. |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
RAVI KASTURI |
|
|
IC / PP No |
: |
S2651015E |
|
|
|
|
|
|
|
Address |
: |
124, MCNAIR ROAD, 06-33, 320124, SINGAPORE. |
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BANK OF INDIA |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
CITIBANK BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
DBS BANK LTD |
|
|
|
|
|
|
|
|
|
|
|
4) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LTD |
|
|
|
|
|
|
|
|
|
|
|
5) |
Name |
: |
THE BANK OF EAST ASIA LIMITED |
|
|
|
|
|
|
|
|
|
|
|
6) |
Name |
: |
THE ROYAL BANK OF SCOTLAND BHD |
|
|
|
|
|
|
|
|
|
|
|
7) |
Name |
: |
UCO BANK |
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C200502234 |
15/04/2005 |
N/A |
BANK OF INDIA |
N/A |
Unsatisfied |
|
C200600608 |
24/01/2006 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LTD |
N/A |
Unsatisfied |
|
C200600609 |
24/01/2006 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LTD |
N/A |
Unsatisfied |
|
C200706909 |
23/08/2007 |
N/A |
THE BANK OF EAST ASIA LIMITED |
N/A |
Unsatisfied |
|
C200900027 |
02/01/2009 |
N/A |
THE ROYAL BANK OF SCOTLAND BHD |
N/A |
Unsatisfied |
|
C201007236 |
18/08/2010 |
N/A |
DBS BANK LTD |
N/A |
Unsatisfied |
|
C201102811 |
07/03/2011 |
N/A |
CITIBANK BHD |
N/A |
Unsatisfied |
|
C201209792 |
29/08/2012 |
N/A |
DBS BANK LTD |
N/A |
Unsatisfied |
|
C201303127 |
26/02/2013 |
N/A |
UCO BANK |
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.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The SC refused to disclose any information on its clientele.
|
Goods Traded |
: |
WOOD PRODUCTS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
2012 |
|
||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
6 |
6 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of 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 |
: |
6563240050 |
|
Current Telephone Number |
: |
65-63240050 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
63 ROBINSON ROAD #05-12 AFRO ASIA BUILDING SINGAPORE 068894 |
|
Current Address |
: |
6 SHENTON WAY, TOWER 2, #12-11B, 068809, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
|
|
||
Other
Investigations
On 24th July 2013 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.
|
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 2000, the SC is a Exempt Private company, focusing on trading of
wood products. Having been in the industry for over a decade, the SC has
achieved a certain market share and has built up a satisfactory reputation in
the market. It should have received supports from its regular customers. We
considered that the SC's business position in the market is much dependent on
the efforts of its directors.
Being a small company, the SC's business operation is supported by 6 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.
Due to the unavailability of the SC's latest financial information, 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.59.29 |
|
|
1 |
Rs.91.18 |
|
Euro |
1 |
Rs.78.71 |
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.