|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Golden Telecom Pte. Ltd. |
|
|
|
|
Registered Office : |
120 Telok Ayer Street, 068589 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
15.04.2009 |
|
|
|
|
Com. Reg. No.: |
200906627-W |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Telecommunication Services |
|
|
|
|
No. of Employees : |
Not Available |
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
|
*
Adopted abbreviations : |
SC
- Subject Company (the company enquired by you) |
|
|
N/A
- Not Applicable |
|
REGISTRATION NO. |
: |
200906627-W |
|
COMPANY NAME |
: |
GOLDEN TELECOM PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
15/04/2009 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
120 TELOK AYER STREET, 068589, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
120, TELOK AYER STREET, 068589, SINGAPORE. |
|
TEL.NO. |
: |
65-63034600 |
|
FAX.NO. |
: |
65-65348541 |
|
WEB SITE |
: |
WWW.GOLDENTELECOM.COM.SG |
|
CONTACT PERSON |
: |
MIZANUR RAHMAN ( MANAGING DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TELECOMMUNICATION SERVICES |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
115,000.00 ORDINARY SHARE, OF A VALUE OF SGD 115,000.00 |
|
|
|
|
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
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 |
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) telecommunication services.
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MIZANUR RAHMAN + |
731 WEST SHEWRAPARA, MIRPUR, DHAKA-1216, BANGLADESH. |
E0121505 |
115,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
115,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
NATHASA SHAIK FARIED |
|
Address |
: |
11 BUKIT BATOK WEST AVENUE 2, HOME FOR THE AGED, 659205, SINGAPORE. |
|
IC / PP No |
: |
S2157903C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
14/02/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MIZANUR RAHMAN |
|
Address |
: |
731 WEST SHEWRAPARA, MIRPUR, DHAKA-1216, BANGLADESH. |
|
IC / PP No |
: |
E0121505 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BANGLADESHI |
|
Date of Appointment |
: |
15/04/2009 |
|
1) |
Name of Subject |
: |
MIZANUR RAHMAN |
|
|
Position |
: |
MANAGING DIRECTOR |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
RAGINI DHANVANTRAY |
|
|
IC / PP No |
: |
S2607093G |
|
|
|
|
|
|
|
Address |
: |
285 OCEAN DRIVE, 01-06, OCEANFRONT @ SENTOSA COVE, THE, 098529,
SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services |
: |
TELECOMMUNICATION SERVICES
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The SC is principally engaged in the (as a / as an) telecommunication services.
The SC is a Service Base (Individual) Licensed Telecommunication company, also presence
in Hong Kong, focus on Global wholesale voice termination with our highly
efficient officials to ensure 24/7 effective service to all of its valuable
partners.
The SC has verious type of Telecommunication - services , internationla voice
service to carrier , Wholsale , Prepaid callling card and VoIP Service
providor. Its competit-ive Pricing model and Quality concisious service are
greatest strength in th telecom industry .
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63034600 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
120 TELOK AYER STREET P O 068589 SINGAPORE |
|
Current Address |
: |
120, TELOK AYER STREET, 068589, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 26th April 2013 we contacted one of the staff from the registered office and
she provided some information on the SC.
She refused to disclose the SC's 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
|
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> |
<10.5> |
|
|
|
|
|
|
|
|
Manufacturing * |
73.5 |
77.9 |
74.6 |
71.5 |
92.8 |
|
Food, Beverages & Tobacco |
79.1 |
88.0 |
94.8 |
90.4 |
96.4 |
|
Textiles |
233.3 |
194.5 |
180.1 |
145.9 |
122.1 |
|
Wearing Apparel |
533.9 |
466.2 |
334.6 |
211.0 |
123.3 |
|
Leather Products & Footwear |
151.7 |
151.3 |
128.2 |
79.5 |
81.8 |
|
Wood & Wood Products |
159.1 |
148.6 |
132.0 |
101.4 |
104.0 |
|
Paper & Paper Products |
94.6 |
102.2 |
101.0 |
95.4 |
106.1 |
|
Printing & Media |
119.4 |
122.2 |
118.2 |
100.9 |
103.5 |
|
Crude Oil Refineries |
112.2 |
112.0 |
113.1 |
96.4 |
95.6 |
|
Chemical & Chemical Products |
83.4 |
88.8 |
84.5 |
80.3 |
97.6 |
|
Pharmaceutical Products |
48.1 |
47.1 |
43.7 |
49.1 |
75.3 |
|
Rubber & Plastic Products |
130.6 |
130.4 |
120.1 |
101.2 |
112.3 |
|
Non-metallic Mineral |
131.3 |
116.2 |
96.5 |
91.9 |
92.5 |
|
Basic Metals |
99.9 |
90.9 |
109.8 |
92.6 |
102.2 |
|
Fabricated Metal Products |
104.4 |
106.5 |
101.3 |
90.8 |
103.6 |
|
Machinery & Equipment |
56.0 |
66.7 |
65.0 |
57.3 |
78.5 |
|
Electrical Machinery |
82.3 |
83.2 |
81.7 |
86.8 |
124.1 |
|
Electronic Components |
96.9 |
99.7 |
93.1 |
85.2 |
113.6 |
|
Transport Equipment |
80.5 |
94.3 |
102.0 |
96.0 |
94.0 |
|
|
|
|
|
|
|
|
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 (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
TELECOMMUNICATION |
Singapore's telecommunications industry has outperformed many of its
regional peers with strong adoption of the latest products and services. Partially
due to the country's small landmass and population size, the telecoms market
has rapidly grown to a stage where it is approaching saturation. Next
generation technologies, both mobile and fixed, are therefore the next step in
fostering new developments and revenue streams, and industry players - the
regulator and operators - have rightly moved in that direction.
In 2012, growth in the number of broadband subscribers moderated from
17% in 2011 to 10% in 2012. With the increase in the number of subscribers, the
broadband subscription rate rose to 1.92 per capita in 2012. Similarly, the
number of mobile subscribers grew by a slower 4.0% in 2012 compared to the 6.4%
increase in 2011. As a result of the increase in subscribers, the mobile
subscription rate reached 1.52 per capita in 2012, slightly higher than the
1.50 per capita in 2011. International telephone call duration saw an increase
of 8.5% in 2012, a reversal from the 0.7% decline recorded in the year 2011.
The key challenge for operators in Singapore is how to monetize the sea
change in consumption patterns. Meanwhile, any boost from Long Term Evolution
(LTE) , or the 4th generation of cellular wireless standard (4G), will probably
come towards end of the year 2012.
As the roll-out of Singapore's Next Generation National Broadband
Network takes a closer step towards achieving 95% coverage of the island by end
2012, fiber subscription is expected to increase. However, it is believed that
the rise would be gradual rather than exponential, as there is the lack of a
"killer app" to drive demand; the more uncertain economic environment
may also discourage consumers from upgrading to higher speed and also higher
priced plans.
Singapore was ranked third in BMI's latest Asia Pacific Telecoms
Risk/Reward Ratings with a Telecoms Rating score of 71.9. The Singaporean
economy has underperformed since the beginning of 2012, suffering from subdued
external demand for much of 2012 and failing to partake in the regional recovery
as the year drew to a close. 2013 appears to have started on a brighter note,
with the purchasing managers' index finally rising above 50 in January 2013.
The telecommunication sector forecast will grow by only 1.5% annually
between 2013 and 2017 due to the high penetration and a shift in operators'
strategies. In spite of the launch of next generation LTE services, the
operators' ARPUs forecast to trendlower due to competition; it is predict the
market average to reach SGD46 in 2017. Besides, it is expected that the number
of 3G/4G phone subscribers in Singapore to reach 7.198mn in 2017, representing
81.6% of the total mobile market of 8.815mn subscribers.
OVERALL INDUSTRY OUTLOOK: MARGINAL GROWTH
Incorporated in 2009, the SC is an Exempt Private company, focusing on
telecommunication services. The SC has been in business for 4 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. The SC may face
difficulties to expand its business compared to other large corporation.
Although the SC has been in the business for only 4 years, it has
established an extensive marketing network to support its business operation.
Penetrating into the overseas countries has well diversified its business risk.
However, the SC faces fierce competition from other well established company.
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 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.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.22 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.