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REGISTRATION
NO.
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201302882-G
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COMPANY NAME
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ABLE GLORY
PTE. LTD.
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FORMER NAME
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N/A
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INCORPORATION
DATE
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:
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29/01/2013
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COMPANY STATUS
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EXIST
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LEGAL FORM
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PRIVATE
LIMITED
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LISTED STATUS
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NO
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REGISTERED ADDRESS
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8, TEMASEK BOULEVARD,
14 - 03A, SUNTEC TOWER THREE, 038988, SINGAPORE.
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BUSINESS
ADDRESS
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8, TEMASEK BOULEVARD,
14-03A, SUNTEC TOWER THREE, 038988, SINGAPORE.
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TEL.NO.
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:
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65-68846338
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FAX.NO.
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:
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65-68846339
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CONTACT PERSON
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LIN XIAOXIA (
MANAGING DIRECTOR )
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PRINCIPAL
ACTIVITY
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:
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GENERAL
WHOLESALE TRADE
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ISSUED AND
PAID UP CAPITAL
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:
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1.00 ORDINARY
SHARE, OF A VALUE OF SGD 1.00
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SALES
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:
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N/A
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NET WORTH
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:
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N/A
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STAFF STRENGTH
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:
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2 [2013]
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LITIGATION
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:
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CLEAR
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FINANCIAL
CONDITION
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:
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N/A
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PAYMENT
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:
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N/A
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MANAGEMENT
CAPABILITY
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:
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AVERAGE
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COMMERCIAL
RISK
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:
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MODERATE
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CURRENCY
EXPOSURE
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:
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MODERATE
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GENERAL REPUTATION
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:
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NOT YET
DETERMINED
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INDUSTRY
OUTLOOK
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:
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AVERAGE GROWTH
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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) general wholesale
trade.
The major shareholder(s) of the SC are
shown as follows :
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Name
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Address
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IC/PP/Loc No
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Shareholding
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(%)
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SUCCEEDING
MARK ENTERPRISE CORP.
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SUITE 2, 10, EVE STREET,
BELIZE CITY, 3 FLOOR, BELIZE.
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BZ011000
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1.00
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100.00
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---------------
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------
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1.00
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100.00
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============
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=====
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+ Also Director
DIRECTOR 1
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Name Of
Subject
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:
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MS. LIN
XIAOXIA
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Address
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:
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10, BATOU LI,
LINMEI CUN, QIULU TOWN, HANJIANG DISTRICT, PUTIAN, FUJIAN, CHINA.
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IC / PP No
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:
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G58164777
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Nationality
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:
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CHINESE
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Date of
Appointment
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:
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29/01/2013
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DIRECTOR 2
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Name Of
Subject
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:
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LIU QINGLIN
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Address
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353B, ADMIRALTY DRIVE,
08 - 286, 752353, SINGAPORE.
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IC / PP No
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:
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S7977463D
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Nationality
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:
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SINGAPOREAN
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Date of
Appointment
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:
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29/01/2013
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MANAGEMENT
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1)
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Name of
Subject
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:
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LIN XIAOXIA
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Position
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:
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MANAGING
DIRECTOR
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No Auditor found in our databank
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1)
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Company
Secretary
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:
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LIU QINGLIN
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IC / PP No
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:
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S7977463D
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Address
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:
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353B, ADMIRALTY DRIVE,
08 - 286, 752353, SINGAPORE.
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No Banker found in our databank.
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Charge No
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Creation Date
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Charge
Description
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Chargee Name
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Total Charge
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Status
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C201309666
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16/07/2013
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N/A
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RB
INTERNATIONAL FINANCE (HONG KONG) LIMITED
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N/A
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Unsatisfied
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C201309667
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16/07/2013
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N/A
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RB
INTERNATIONAL FINANCE (HONG KONG) LIMITED
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N/A
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Unsatisfied
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* 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.
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SOURCES OF RAW
MATERIALS:
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Local
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:
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YES
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Overseas
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:
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YES
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The SC's suppliers are mostly from overseas.
CLIENTELE
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Local
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:
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YES
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Domestic
Markets
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:
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SINGAPORE
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Overseas
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:
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YES
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Type of
Customer
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:
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END USERS
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The SC's customers are mostly from overseas.
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Total Number
of Employees:
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YEAR
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2013
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GROUP
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N/A
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COMPANY
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2
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Other Information:
The SC is principally engaged in the (as a / as an) general wholesale trade.
The SC refused to disclose any information about their business operation.
Latest fresh investigations carried out on the SC indicated that :
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Telephone
Number Provided By Client
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:
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65-68846880
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Current
Telephone Number
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:
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65-68846338
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Match
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:
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NO
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Address
Provided by Client
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:
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8 TEMASEK BOULEVARD NO. 14-03 A SUNTEC TOWER THREE
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Current
Address
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:
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8, TEMASEK BOULEVARD,
14-03A, SUNTEC TOWER THREE, 038988, SINGAPORE.
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Match
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:
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NO
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Other
Investigations
On 31st October 2013 we contacted one of the staff from the SC and he
provided some information on the SC.
The address provided is incomplete.
The SC refused to disclose its banker.
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No latest financial
accounts are available at the Registry Office, thus we are not able to
comment on the SC's financial performance.
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Overall
financial condition of the SC : N/A
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SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
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Major Economic
Indicators :
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2008
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2009
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2010
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2011
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2012
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Population
(Million)
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4.84
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4.98
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5.08
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5.18
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5.31
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Gross Domestic
Products ( % )
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1.5
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<0.8>
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14.5
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4.9
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1.3
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Consumer Price
Index
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6.6
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0.6
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2.8
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5.2
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4.6
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Total Imports
(Million)
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450,892.6
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356,299.3
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423,221.8
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459,655.1
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474,554.0
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Total Exports
(Million)
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476,762.2
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391,118.1
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478,840.7
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514,741.2
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510,329.0
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Unemployment
Rate (%)
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2.2
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3.2
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2.2
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2.1
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2.0
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Tourist
Arrival (Million)
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10.12
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9.68
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11.64
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13.17
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14.37
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Hotel
Occupancy Rate (%)
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81.0
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75.8
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85.6
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86.5
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86.4
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Cellular Phone
Subscriber (Million)
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1.31
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1.37
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1.43
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1.50
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1.52
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Registration of
New Companies (No.)
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25,327
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26,414
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29,798
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32,317
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31,892
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Registration
of New Companies (%)
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<2.2>
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4.3
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12.8
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8.5
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<1.3>
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Liquidation of
Companies (No.)
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10,493
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22,393
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15,126
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19,005
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17,218
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Liquidation of
Companies (%)
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13.7
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113.4
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<32.5>
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25.6
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9.4
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Registration
of New Businesses (No.)
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24,850
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26,876
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23,978
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23,494
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24,788
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Registration
of New Businesses (%)
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0.36
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8.15
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<10.78>
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2.02
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5.51
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Liquidation of
Businesses (No.)
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21,150
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23,552
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24,211
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23,005
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22,489
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Liquidation of
Businesses (%)
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<0.8>
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11.4
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2.8
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<5>
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<2.2>
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Bankruptcy
Orders (No.)
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2,326
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2,058
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1,537
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1,527
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1,748
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Bankruptcy
Orders (%)
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<15.9>
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<11.5>
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<25.3>
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<0.7>
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14.5
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Bankruptcy
Discharges (No.)
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1,500
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3,056
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2,252
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1,391
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1,881
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Bankruptcy
Discharges (%)
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<7.7>
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103.7
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<26.3>
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<38.2>
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35.2
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INDUSTRIES ( %
of Growth ) :
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Agriculture
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Production of
Principal Crops
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<0.32>
|
3.25
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<0.48>
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4.25
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3.64
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Fish Supply
& Wholesale
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<6.31>
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<1.93>
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<10.5>
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12.10
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<0.5>
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Manufacturing
*
|
74.6
|
71.5
|
92.8
|
100.0
|
100.3
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Food,
Beverages & Tobacco
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94.8
|
90.4
|
96.4
|
100.0
|
103.5
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Textiles
|
180.1
|
145.9
|
122.1
|
100.0
|
104.0
|
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Wearing
Apparel
|
334.6
|
211.0
|
123.3
|
100.0
|
92.1
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Leather
Products & Footwear
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128.2
|
79.5
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81.8
|
100.0
|
98.6
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Wood &
Wood Products
|
132.0
|
101.4
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104.0
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100.0
|
95.5
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Paper &
Paper Products
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101.0
|
95.4
|
106.1
|
100.0
|
97.4
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Printing &
Media
|
118.2
|
100.9
|
103.5
|
100.0
|
93.0
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Crude Oil
Refineries
|
113.1
|
96.4
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95.6
|
100.0
|
99.4
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Chemical &
Chemical Products
|
84.5
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80.3
|
97.6
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100.0
|
100.5
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Pharmaceutical
Products
|
43.7
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49.1
|
75.3
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100.0
|
109.7
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Rubber &
Plastic Products
|
120.1
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101.2
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112.3
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100.0
|
96.5
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Non-metallic
Mineral
|
96.5
|
91.9
|
92.5
|
100.0
|
98.2
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Basic Metals
|
109.8
|
92.6
|
102.2
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100.0
|
90.6
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Fabricated
Metal Products
|
101.3
|
90.8
|
103.6
|
100.0
|
104.3
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Machinery
& Equipment
|
65.0
|
57.3
|
78.5
|
100.0
|
112.9
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Electrical
Machinery
|
81.7
|
86.8
|
124.1
|
100.0
|
99.3
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Electronic
Components
|
93.1
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85.2
|
113.6
|
100.0
|
90.6
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Transport
Equipment
|
102.0
|
96.0
|
94.0
|
100.0
|
106.3
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|
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Construction
|
45.90
|
<36.9>
|
14.20
|
20.50
|
28.70
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Real Estate
|
<11.2>
|
1.4
|
21.3
|
25.4
|
31.9
|
|
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Services
|
|
|
|
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Electricity, Gas
& Water
|
<1.3>
|
1.70
|
4.00
|
7.00
|
6.30
|
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Transport,
Storage & Communication
|
11.60
|
3.90
|
12.80
|
7.40
|
5.30
|
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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
|
|
|
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* Based on
Index of Industrial Production (2011 = 100)
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(Source :
Department of Statistics)
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INDUSTRY :
|
TRADING
|
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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.
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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.
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|
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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%.
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|
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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.
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|
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OVERALL INDUSTRY
OUTLOOK : AVERAGE GROWTH
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
Incorporated in 2013, the SC is a Private Limited company, focusing on
general wholesale trade. The SC was newly established and it has yet to build
up a stable clientele base in the market. It is likely to incur start-up
costs during the initial years of its operations. However, having strong
support from its holding company has enabled the SC to remain competitive
despite the challenging business environment.
Although the SC has been in the business for less than a year, 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. Being a small company, the SC's business operation is
supported by 2 employees. We regard that the SC's management capability is
average.
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.
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, we are of the opinion that there are a large
number of other companies in the same industry. In another word, we believe
that the SC faces stiff competitions from other local players.
In view of the above, we recommend credit be granted to the SC with close
monitoring.
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FINANCIAL ACCOUNT
|
|
No latest financial accounts are available at the Registry Office.
|