|
Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
L S LAKSHIMI & CO |
|
|
|
|
Registered Office : |
45, Upperweld Road, 207402 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
09.04.1975 |
|
|
|
|
Com. Reg. No.: |
09262100-K |
|
|
|
|
Legal Form : |
Partnership Concern |
|
|
|
|
Line of Business : |
Trader of Cigar and Food Products |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
|
REGISTRATION NO. |
: |
09262100-K |
|
COMPANY NAME |
: |
L S LAKSHIMI
& CO |
|
COMMENCEMENT DATE |
: |
09/04/1975 |
|
REGISTRATION DATE |
: |
09/04/1975 |
|
EXPIRY DATE |
: |
09/04/2014 |
|
BUSINESS CONSTITUTION |
: |
PARTNERSHIP |
|
|
|
|
|
|
|
|
|
|
|
|
|
BUSINESS ADDRESS |
: |
45, UPPERWELD ROAD, 207402, SINGAPORE. |
|
TEL.NO. |
: |
65-62933027 |
|
FAX.NO. |
: |
65-62920594 |
|
CONTACT PERSON |
: |
SARAN ( MANAGER ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CIGAR AND FOOD PRODUCTS |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
|
|
|
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject
commenced its business on 09/04/1975 as a PARTNERSHIP.
The Subject is a
partnership firm registered under the Business Registration Act. The partners
liabilities are unlimited, that is, if the partnership is not able to meet its
obligations, the partners have to be personally liable for the debts incurred.
The Subject's ownership is transferable with consent of the other partners. The
Subject as a partnership firm is governed by the Partnership Act. The Subject
is not required to file in its financial statements with the Registry of
Business.
The Subject is principally
engaged in the (as a / as an) trading of cigar and food products.
The owner of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
G INDUMATHI |
22, TELOK BLANGAH CRESCENT, 06-65 ,
090022, SINGAPORE. |
S2012257I |
25.00 |
25.00 |
|
SHANMUGAM KANNAN |
40, SIMS DRIVE, 08-221 , 380040,
SINGAPORE. |
S2674698A |
25.00 |
25.00 |
|
SHARPUNISHA LATHIFF |
A18, FIRST CROSS THILLAI NAGAR, TIRUCHY ,
INDIA. |
S721802 |
25.00 |
25.00 |
|
VINAYAGAM SHANMUGAM MEENAKSHI |
33, SOUTH MAIN ST VEDARANIAM , INDIA. |
G281374 |
25.00 |
25.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
OWNER(S) 1
|
Name Of Subject |
: |
G INDUMATHI |
|
Address |
: |
22, TELOK BLANGAH CRESCENT, 06-65, 090022,
SINGAPORE. |
|
IC / PP No |
: |
S2012257I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
02/02/1994 |
|
Shareholding |
: |
25% |
OWNER(S) 2
|
Name Of Subject |
: |
SHANMUGAM KANNAN |
|
Address |
: |
40, SIMS DRIVE, 08-221, 380040, SINGAPORE. |
|
IC / PP No |
: |
S2674698A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/01/1993 |
|
Shareholding |
: |
25% |
OWNER(S) 3
|
Name Of Subject |
: |
SHARPUNISHA LATHIFF |
|
Address |
: |
A18, FIRST CROSS THILLAI NAGAR, TIRUCHY,
INDIA. |
|
IC / PP No |
: |
S721802 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
28/09/1990 |
|
Shareholding |
: |
25% |
OWNER(S) 4
|
Name Of Subject |
: |
VINAYAGAM SHANMUGAM MEENAKSHI |
|
Address |
: |
33, SOUTH MAIN ST VEDARANIAM, INDIA. |
|
IC / PP No |
: |
G281374 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
15/01/1993 |
|
Shareholding |
: |
25% |
|
1) |
Name of Subject |
: |
SARAN |
|
|
Position |
: |
MANAGER |
No Auditor found in our databank
No Banker found in our databank.
* A check has been conducted in our databank against the
Subject whether the subject has been involved in any litigation.
No legal action was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The
Subject refused to disclose its suppliers.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
The Subject
refused to disclose its clientele.
|
Goods Traded |
: |
CIGAR AND FOOD PRODUCTS
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of cigar and food
products.
The Subject sells Cigar, Cigarette & Tobacco.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62933027 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
46, UPPERWELD ROAD,SINGAPORE |
|
Current Address |
: |
45, UPPERWELD ROAD, 207402, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided does not belong to the Subject.
The Subject refused to disclose its number of employee.
|
We are unable to comment on the Subject financial position as the
Subject is not required by the law to file its financial statement in the
Registrar of Business. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : 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) |
|
|
|
|
|
|
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 1975, the Subject is a Partnership company, focusing on
trading of cigar and food products. With its long presence in the industry
coupled with its vast experiences in the business, the Subject should have
built up certain goodwill with its clients over times.
Overall, we regard that the Subject's management capability is average. This
indicates that the Subject has greater potential to improve its business
performance and raising income for the Subject.
As the Subject is registered as a partnership, it is not required by law to
file its 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. Hence, the Subject is expected to benefit from the favourable
outlook of the industry. The Subject however faces moderate business risk as it
has to compete with many well established players in the same field.
In view of the above, we recommend credit be granted to the Subject with close
monitoring.
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.47 |
|
|
1 |
Rs. 102.94 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.