|
EXECUTIVE SUMMARY
|
REGISTRATION
NO.
|
:
|
201215352-Z
|
|
COMPANY NAME
|
:
|
SARAOGI GLOBAL
PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
21/06/2012
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
141, CECIL
STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
141, CECIL
STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62219783
|
|
FAX.NO.
|
:
|
65-62219793
|
|
CONTACT PERSON
|
:
|
ANIL KUMAR (
DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
LOGISTIC
SERVICES
|
|
|
|
|
|
ISSUED AND PAID
UP CAPITAL
|
:
|
51,000.00
ORDINARY SHARE, OF A VALUE OF USD 51,000.00
|
|
|
|
|
|
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
|
:
|
MODERATE
|
|
GENERAL
REPUTATION
|
:
|
POOR
|
|
INDUSTRY
OUTLOOK
|
:
|
MARGINAL
GROWTH
|
HISTORY / BACKGROUND
The SC is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As
a private limited company, the SC must have at least two directors. 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, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the SC is
insolvent. The SC is governed by the Companies Act and the company must file
its annual returns, together with its financial statements with the Registrar
of Companies.
The SC is principally engaged in the (as a / as an)
logistic services.
The major shareholder(s) of the SC are shown as
follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
SARAOGI UDYOG
PRIVATE LIMITED
|
21 HEMANTA
BASU SARANI, SUITE 212, KOLKATA, 2ND FLOOR, 700001, INDIA.
|
T12UF2265A
|
51,000.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
51,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of
Subject
|
:
|
ANIL KUMAR
SARAOGI
|
|
Address
|
:
|
DL-20
SECTOR-II, SALT LAKE CITY, KOLKATA, 700091, INDIA.
|
|
IC / PP No
|
:
|
G5430058
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of
Appointment
|
:
|
21/06/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
RISHABH KUMAR
SARAOGI
|
|
Address
|
:
|
DL-20,
SECTORII, SALT LAKE CITY, KOLKATA, 700091, INDIA.
|
|
IC / PP No
|
:
|
H5923549
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of
Appointment
|
:
|
21/06/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of
Subject
|
:
|
PERMINDRA
MOHAN JAUHAR
|
|
Address
|
:
|
352 ANG MO KIO
STREET 32, 08-133, 560352, SINGAPORE.
|
|
IC / PP No
|
:
|
S263478I
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
21/06/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of
Subject
|
:
|
ANIL KUMAR
|
|
|
Position
|
:
|
DIRECTOR
|
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1)
|
Company
Secretary
|
:
|
SHIV RAJ KAPUR
|
|
|
IC / PP No
|
:
|
S2640515G
|
|
|
|
|
|
|
|
Address
|
:
|
122 SIMEI
STREET 1, 11- 436, 520122, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
No encumbrance was found in our databank at the time of investigation.
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
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The staff from the registered office refused to disclose its clientele information.
OPERATIONS
Other Information:
The SC is principally engaged in the (as a / as an) logistic services.
The staff from the registered office refused to disclose further information
on the SC's operation.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-62219783
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address
Provided by Client
|
:
|
141, CECIL
STREET, 07-05 TUNS ANN ASSOCIATION BUILDING SINGAPORE 069541
|
|
Current
Address
|
:
|
141, CECIL
STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
|
Other
Investigations
we contacted one of the staff
from the SC and she provided some information on the SC.
She refused to disclose its number of employees.
The address provided is incorrect.
FINANCIAL ANALYSIS
|
No latest
financial accounts are available at the Registry Office, thus 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.
|
|
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.
|
|
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.
|
|
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.
|
|
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.
|
|
Overall, the Singapore economy is expected to grow by around 5.0% in 2011
and by 1.0 to 3.0% in 2012.
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
Incorporated
in 2012, the SC is a Private Limited company, focusing on logistic
services. Having been in the business for only 1 year, the SC's position in
the market is not stable. The SC has yet to build up its own image and
market shares. The capital standing of the SC is weak. The SC may face
difficulties to expand its business compared to other large corporation.
Without a strong capital, the business expansion opportunities of the SC is
limited.
|
|
We regard that the SC's management capability is weak. Without capable
management, the SC is unlikely to be successful and often contribute to
unacceptable levels of accountability. Weak management can affect
productivity, profitability, sales growth and ultimately can result in the
failure of a business.
|
|
No financial accounts are available for analysis. As such, we are not able
to comment on the SC's current financial standing.
|
|
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.
|
|
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.
|
|
In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
|
|