|
Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SINGAPORE LUBE
PARK PTE. LTD. |
|
|
|
|
Registered Office : |
80, Robinson Road, 02 - 00, 068898 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
25.06.2013 |
|
|
|
|
Com. Reg. No.: |
201317146-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Mineral Fuels and Lubricants |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
|
|
|
|
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. |
: |
201317146-W |
|
COMPANY NAME |
: |
SINGAPORE LUBE
PARK PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
25/06/2013 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
80, ROBINSON ROAD, 02 - 00, 068898,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
80, ROBINSON ROAD, 02-00, 068898,
SINGAPORE. |
|
TEL.NO. |
: |
65-62363333 |
|
FAX.NO. |
: |
65-62364399 |
|
CONTACT PERSON |
: |
ROBERT CAMPBELL GRUBB ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MINERAL FUELS AND LUBRICANTS |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
120,875,419.00 ORDINARY SHARE, OF A VALUE
OF SGD 23,393,411.00 |
|
|
|
|
|
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 |
: |
N/A |
|
GENERAL REPUTATION |
: |
NOT YET DETERMINED |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) trading of mineral fuels and lubricants.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHELL EASTERN
PETROLEUM (PTE) LTD |
83, CLEMENCEAU
AVENUE, 04 - 00, SHELL HOUSE, 239920, SINGAPORE. |
196000089G |
53,910,437.00 |
44.60 |
|
TOTAL OIL
ASIA-PACIFIC PTE. LTD. |
50, RAFFLES
PLACE, 06 - 00, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
198203852R |
46,416,161.00 |
38.40 |
|
SINOPEC
LUBRICANT (SINGAPORE) PTE. LTD. |
150, TUAS SOUTH
AVENUE 5, SINOPEC LUBRICANT SINGAPORE COMPANY, 637363, SINGAPORE. |
201010257K |
20,548,821.00 |
17.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
120,875,419.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. ROBERT CAMPBELL GRUBB |
|
Address |
: |
21, CLAYMORE ROAD, 29 - 01, TATE RESIDENCES,
THE, 229545, SINGAPORE. |
|
IC / PP No |
: |
G6331320W |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
18/07/2013 |
|
Remark |
: |
ALTERNATE DIRECTOR TO ROBERTO VICTOR
MARTELINO MORAN |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
PASCAL MARIE-LOUISE JOZEF BERTOSSI |
|
Address |
: |
6, RIDGEWOOD CLOSE, 20 - 06, TRIZON, THE,
276697, SINGAPORE. |
|
IC / PP No |
: |
G5335398W |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BELGIAN |
|
Date of Appointment |
: |
09/07/2013 |
|
Remark |
: |
ALTERNATE DIRECTOR TO TAN PAI KOK |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
TAN PAI KOK |
|
Address |
: |
54, CLEMENTI CRESCENT, CLEMENTI GREEN,
599568, MALAYSIA. |
|
IC / PP No |
: |
S1165348J |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/06/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
ROBERTO VICTOR MARTELINO MORAN |
|
Address |
: |
345, UPPER BUKIT TIMAH ROAD, 08 - 08,
HILLSIDE, THE, 588197, SINGAPORE. |
|
IC / PP No |
: |
G6347838K |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FILIPINO |
|
Date of Appointment |
: |
25/06/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
LIU HECHAO |
|
Address |
: |
680A, JURONG WEST CENTRAL 1, 12 - 38,
641680, SINGAPORE. |
|
IC / PP No |
: |
G5196726M |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
18/07/2013 |
|
Remark |
: |
ALTERNATE DIRECTOR TO PEI WENJUN |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject |
: |
PEI WENJUN |
|
Address |
: |
81, JURONG WEST CENTRAL 3, CENTRIS, THE,
648340, SINGAPORE. |
|
IC / PP No |
: |
G5195166U |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
25/06/2013 |
|
1) |
Name of Subject |
: |
ROBERT CAMPBELL GRUBB |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
RSM CHIO LIM LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHAN LAI YIN |
|
|
IC / PP No |
: |
S7480587F |
|
|
|
|
|
|
|
Address |
: |
26, SIMEI STREET 1, 11-08, MELVILLE PARK,
529947, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
LOW SIEW TIAN |
|
|
IC / PP No |
: |
S6963151G |
|
|
|
|
|
|
|
Address |
: |
453, TAMPINES STREET 42, 11-204, 520453,
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 |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The staff from the registered office refused to disclose any information on the
SC's trade suppliers.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The staff from the registered office refused to disclose any information on the
SC's clientele.
|
Goods Traded |
: |
FUELS AND LUBRICANTS
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of mineral fuels
and lubricants.
The staff from the registered office refused to disclose any information on the
SC's business operations.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62363333 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
60 ROBINSON ROAD, #02-00, SINGAPORE 068898
|
|
Current Address |
: |
80, ROBINSON ROAD, 02-00, 068898,
SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted a staff from the SC's registered office and she provided very limited
information on the SC.
The address provided is the previous address of the registered office.
The staff from the registered office refused to disclose the SC's number of
employees and its bankers.
|
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 |
||||||
|
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 2013, the SC is a Private Limited company,
focusing on trading of mineral fuels and lubricants. 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. Presently, issued and paid up capital of the SC stand at
SGD23,393,411.
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.
The SC being newly incorporated and has yet to file its financial statement
with the Registrar Office.
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.
Being a new company, we propose that business transaction with the SC be
conducted with caution and on a conservative basis until such time when the SC
is more fully established.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.