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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMPATH INTERNATIONAL PTE. LTD. |
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Registered Office : |
420, North Bridge Road, 06-11/12, |
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Country : |
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Date of Incorporation : |
19.01.2013 |
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Com. Reg. No.: |
201302044-C |
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Legal Form : |
Exempt Private |
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Line of Business : |
Subject is principally engaged in the General Trading (We tried to confirm obtain the details activity but the same is not available from any source.) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. The economy
contracted 0.6% in 2009 as a result of the global financial crisis, but
rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to
in 2011-13, 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. 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 |
|
REGISTRATION NO. |
: |
201302044-C |
|
COMPANY NAME |
: |
SAMPATH INTERNATIONAL PTE. LTD. |
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FORMER NAME |
: |
N/A |
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INCORPORATION DATE |
: |
19/01/2013 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
EXEMPT PRIVATE |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
420, NORTH BRIDGE ROAD, 06-11/12, NORTH BRIDGE CENTRE, 188727,
SINGAPORE. |
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BUSINESS ADDRESS |
: |
420 NORTH BRIDGE ROAD NO 6-11/12 NORTH BRIDGE CENTRE, 188727,
SINGAPORE. |
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TEL.NO. |
: |
65-63362440 |
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FAX.NO. |
: |
65-63362441 |
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CONTACT PERSON |
: |
SUNDARARAJAN SAMPATH KUMAR ( DIRECTOR ) |
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PRINCIPAL ACTIVITY |
: |
GENERAL TRADING |
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ISSUED AND PAID UP CAPITAL |
: |
10,000.00 ORDINARY SHARE, OF A VALUE OF SGD 10,000.00 |
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SALES |
: |
N/A |
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NET WORTH |
: |
N/A |
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STAFF STRENGTH |
: |
N/A |
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LITIGATION |
: |
CLEAR |
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FINANCIAL CONDITION |
: |
N/A |
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PAYMENT |
: |
N/A |
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MANAGEMENT CAPABILITY |
: |
WEAK |
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COMMERCIAL RISK |
: |
N/A |
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CURRENCY EXPOSURE |
: |
N/A |
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GENERAL REPUTATION |
: |
POOR |
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INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject 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 Subject 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 Subject has to file in a document duly signed by its director in charge of its finance and the company secretary stating that the Subject is able to meet all its obligations as and when they fall due. The Subject is not required to have their accounts audited. However, the Subject 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 Subject is principally engaged in the (as a / as an) general trading.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
19/08/2014 |
SGD 10,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SUNDARARAJAN SAMPATH KUMAR + |
207, SURUTHI BLOCK, CHITRA AVENUE, 9, CHOOLAIMEDU HIGH ROAD, CHENNAI TAMIL NADU, 2ND FLOOR, 600094, INDIA. |
Z2391922 |
10,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
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|
10,000.00 |
100.00 |
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|
============ |
===== |
+Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SABESAN SURESH KUMAR |
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Address |
: |
1, RIVERVALE LINK, 02-16, THE RIVERVALE, 545118, SINGAPORE. |
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IC / PP No |
: |
S7260346Z |
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Nationality |
: |
SINGAPOREAN |
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Date of Appointment |
: |
19/01/2013 |
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DIRECTOR 2
|
Name Of Subject |
: |
SUNDARARAJAN SAMPATH KUMAR |
|
Address |
: |
207, SURUTHI BLOCK, CHITRA AVENUE, 9, CHOOLAIMEDU HIGH ROAD, CHENNAI TAMIL NADU, 2ND FLOOR, 600094, INDIA. |
|
IC / PP No |
: |
Z2391922 |
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Nationality |
: |
INDIAN |
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Date of Appointment |
: |
19/01/2013 |
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1) |
Name of Subject |
: |
SUNDARARAJAN SAMPATH KUMAR |
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Position |
: |
DIRECTOR |
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|
No Auditor found in our databank
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|
|
1) |
Company Secretary |
: |
SABESAN SURESH KUMAR |
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IC / PP No |
: |
S7260346Z |
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Address |
: |
1, RIVERVALE LINK, 02-16, THE RIVERVALE, 545118, SINGAPORE. |
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No Banker found in our databank.
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No encumbrance was found in our databank at the time of investigation.
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* A check has been conducted in our databank againt the Subject 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: |
|||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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||
The staff from the Subject's registered office refused to disclose the
Subject's suppliers.
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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The staff from the Subject's registered office refused to disclose the
Subject's clientele.
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Goods Traded |
: |
GENERAL TRADING
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Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) general trading.
The staff from the Subject's registered office refused to disclose the
Subject's operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63362440 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
420 NORTH BRIDGE ROAD NO 6-11/12 NORTH BRIDGE CENTRE SINGAPORE 188727 |
|
Current Address |
: |
420 NORTH BRIDGE ROAD NO 6-11/12 NORTH BRIDGE CENTRE, 188727, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject's registered
office and she only provided limited information.
She refused to disclose its number of employees.
|
The Subject 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 Subject's financial performance. |
||||||
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Overall financial condition of the Subject : N/A |
||||||
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Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
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|
|
|
|
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|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
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|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
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|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
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Services |
|
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|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
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|
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|
* Based on Index of Industrial Production (2011 = 100) |
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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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|
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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|
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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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
|
Incorporated in 2013, the Subject is an Exempt Private company, focusing
on general trading. Having been in the business for only 1 year, the Subject's
position in the market is not stable. The Subject has yet to build up its own
image and market shares. With a weak shareholders' backing, the Subject's
capital position is weak. Inadequate capital may be a constraint to the Subject
as it limits its ability to expand its business in future. The capital standing
of the Subject is weak. The Subject may face difficulties to expand its
business compared to other large corporation. Without a strong capital, the
business expansion opportunities of the Subject is limited.
We regard that the Subject's management capability is weak. Without
capable management, the Subject 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.
As the Subject 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 industry shows an upward trend and this trend is very likely to
sustain in the near terms. Being a young and small player in the industry, the
Subject however faces fierce competition from other well-established players
and it is likely to be exposed to currency fluctuation risk which in turn may
impair its profitability.
Based on the above unfavourable condition, we regard granting credit to
the Subject to be quite risky. Hence, credit is not recommended.
|
|
|
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.67 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.