|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired
by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
199002516-G
|
|
COMPANY NAME
|
:
|
ARVEE INTERNATIONAL PTE LTD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
25/05/1990
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
10 ANSON ROAD, 27-09, INTERNATIONAL
PLAZA, 079903, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
10 ANSON ROAD, 27-09 INTERNATIONAL PLAZA,
079903, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62278131
|
|
FAX.NO.
|
:
|
65-62259348
|
|
EMAIL
|
:
|
ARVEE@SINGNET.COM.SG
|
|
CONTACT PERSON
|
:
|
RAJAN BAGARIA ( MANAGING DIRECTOR )
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
IMPORT AND EXPORT OF AGRICULTURAL
PRODUCTS
|
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
2,900,000.00 ORDINARY SHARE, OF A VALUE
OF SGD 2,900,000.00
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
11 [2013]
|
|
BANKER (S)
|
:
|
|
STANDARD CHARTERED BANK
INDIAN BANK
BANK OF INDIA
UCO BANK
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE 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) import and export of agricultural products.
The major
shareholder(s) of the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
BAGARIA RAJAN +
|
110 TANJONG RHU ROAD, 07-04, CAMELOT
BY-THE-WATER, 436928, SINGAPORE.
|
S2590024C
|
1,450,000.00
|
50.00
|
|
ASHA BAGARIA +
|
110 TANJONG RHU ROAD, 07-04, CAMELOT,
436928, SINGAPORE.
|
S2590025A
|
1,450,000.00
|
50.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
2,900,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
POOJA BAGARIA NRS POOJA BHARTIYA @ POOJA
BHARTIYA
|
|
Address
|
:
|
10 ANSON ROAD, 40-01, INTERNATIONAL
PLAZA, 079903, SINGAPORE.
|
|
IC / PP No
|
:
|
S7770850B
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
15/10/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
BAGARIA RAJAN
|
|
Address
|
:
|
110 TANJONG RHU ROAD, 07-04, CAMELOT
BY-THE-WATER, 436928, SINGAPORE.
|
|
IC / PP No
|
:
|
S2590024C
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
25/05/1990
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
ASHA BAGARIA
|
|
Address
|
:
|
110 TANJONG RHU ROAD, 07-04, CAMELOT,
436928, SINGAPORE.
|
|
IC / PP No
|
:
|
S2590025A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
22/02/1993
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
RAJAN BAGARIA
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
NATARAJAN & SWAMINATHAN
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
BAGARIA RAJAN
|
|
|
IC / PP No
|
:
|
S2590024C
|
|
|
|
|
|
|
|
Address
|
:
|
110 TANJONG RHU ROAD, 07-04, CAMELOT
BY-THE-WATER, 436928, SINGAPORE.
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
STANDARD CHARTERED BANK
|
|
|
|
|
|
|
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
|
:
|
27/10/2004
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200405306 In The
Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
16/04/2007
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200702852 In The
Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
25/02/2003
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200300833 In The
Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
25/02/2003
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered C200300843 In The
Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
05/02/2002
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
THE DEVELOPMENT BANK OF SINGAPORE
LIMITED
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 200200595 In The
Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
23/01/1996
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 9600418 In The Register
of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
03/05/2001
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 200102069 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
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
AGRICULTURAL PRODUCTS
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2013
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
11
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) import and export of
agricultural products.
The SC refused to disclose any information on its operation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
6562278131
|
|
Current Telephone Number
|
:
|
65-62278131
|
|
Match
|
:
|
YES
|
|
Address Provided by Client
|
:
|
10 ANSON ROAD, #27-09, INTERNATIONAL
PLAZA, SINGAPORE 079903
|
|
Current Address
|
:
|
10 ANSON ROAD, 27-09 INTERNATIONAL PLAZA,
079903, SINGAPORE.
|
|
Match
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
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>
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* Based on Index of Industrial Production
(2007 = 100)
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(Source : Department of Statistics)
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INDUSTRY ANALYSIS
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INDUSTRY :
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TRADING
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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.
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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.
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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.
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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.
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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.
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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.
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH
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CREDIT
RISK EVALUATION & RECOMMENDATION
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Incorporated in 1990, the SC is an Exempt Private company, focusing on
import and export of agricultural products. 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 small company, the SC's
business operation is supported by 11 employees. Overall, we regard that
the SC's management capability is average.
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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 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. The SC however faces moderate business risk as it
has to compete with many well established players in the same field.
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In view of the above, we recommend credit be granted to the SC with close
monitoring.
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