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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DSR IMPEX |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.11.2011 |
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Com. Reg. No.: |
53203195-D |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Freight Forwarding |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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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 – 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 |
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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 Concern (the concern enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
53203195-D |
|
CONCERN NAME |
: |
DSR IMPEX |
|
COMMENCEMENT DATE |
: |
11/11/2011 |
|
REGISTRATION DATE |
: |
11/11/2011 |
|
EXPIRY DATE |
: |
11/11/2014 |
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BUSINESS CONSTITUTION |
: |
SOLE PROPRIETORSHIP |
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BUSINESS ADDRESS |
: |
27 HUME AVENUE, 02-27, HUME PARK 2,
598731, SINGAPORE. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
LILU ( MANAGER ) |
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PRINCIPAL ACTIVITY |
: |
FREIGHT FORWARDING |
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STAFF STRENGTH |
: |
N/A |
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LITIGATION |
: |
CLEAR |
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PAYMENT |
: |
N/A |
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MANAGEMENT CAPABILITY |
: |
N/A |
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COMMERCIAL RISK |
: |
N/A |
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CURRENCY EXPOSURE |
: |
N/A |
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GENERAL REPUTATION |
: |
N/A |
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INDUSTRY OUTLOOK |
: |
MATURE |
The Subject commenced its business on 11/11/2011 as a SOLE PROPRIETORSHIP.
The Subject is a sole proprietorship, that is, it has a single owner whose liabilities are unlimited. In case the Subject is unable to meet all its obligations, the creditors can claim on the owner's personal assets. The sole proprietorship ceases upon the death of the owner or any time at the discretion of the owner. The ownership is non-transferable. Under the law, the Subject has to file in its information with Registrar of Business but it is not required to file in its financial statements.
The Subject is principally engaged in the (as a / as an) freight forwarding.
The owner of the
Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
LUHURINAH MEKAR |
106, ALJUNIED CRESCENT, 10 - 187 , 380106, SINGAPORE. |
S7082890A |
100.00 |
100.00 |
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|
--------------- |
------ |
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|
100.00 |
100.00 |
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|
|
|
============ |
===== |
+ Also Director
OWNER(S) 1
|
Name Of Subject |
: |
LUHURINAH MEKAR |
|
Address |
: |
106, ALJUNIED CRESCENT, 10 - 187, 380106, SINGAPORE. |
|
IC / PP No |
: |
S7082890A |
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Nationality |
: |
SINGAPOREAN |
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Date of Appointment |
: |
11/11/2011 |
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Shareholding |
: |
100% |
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1) |
Name of Subject |
: |
LILU |
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Position |
: |
MANAGER |
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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.
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SOURCES OF RAW MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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Branch |
: |
NO
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Other
Information:
The Subject is principally engaged in the (as a / as an) freight forwarding.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
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Address Provided by Client |
: |
6, SHENTON WAY, HEX 24-09, DBS BUILDING TOWER-2,
SINGAPORE 068809 |
|
Current Address |
: |
27 HUME AVENUE, 02-27, HUME PARK 2,
598731, SINGAPORE. |
|
Match |
: |
N/A |
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Other
Investigations
We were unable to contact the Subject and its owner.
On 24th December 2013 we contacted the Subject at 65-91899495. However, it was
uncontactable.
We found a contact number at 65-63255755 based on the address provided and we
were informed that the address provided belongs to KCTEX INTERNATIONAL LIMITED.
However, they are not aware of the Subject.
We were unable to verify the address provided as well as business address.
|
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. |
||||||
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Overall
financial condition of the Subject : N/A |
||||||
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Major Economic
Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
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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 |
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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 |
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|
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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 |
|
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|
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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> |
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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 |
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INDUSTRIES ( %
of Growth ) : |
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Agriculture |
|
|
|
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|
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> |
|
|
|
|
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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 |
|
|
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|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
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 |
|
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 |
|
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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 : |
TRANSPORTATION |
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|
The transportation and storage sector expanded by 3.2% in the fourth
quarter of 2012, an improvement from the 1.7% growth in the third quarter.
For the whole of 2012, the sector grew by 2.7%, slower than the growth of
3.8% in 2011. |
|
|
|
|
|
Air passenger traffic continued to grow at a healthy pace of 9.9% in
2012, following the 11% growth in 2011. Growth came on the back of strong
visitor arrivals and regional air travel. However, in line with a slowdown in
electronics domestic exports, air cargo growth contracted by 3.1% in 2012, a
reversal from the 2.9% expansion in year 2011. Growth in aircraft movements
also moderated to 8.3% from the 14% in 2011. |
|
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|
Aviation service providers' outlook is also gloomy, but longer term
prospects are intact. The air of pessimism that currently surrounds the
aviation industry may, in the near term, cascade down to the maintenance,
repair and overhaul service providers and ground handlers. Global air travel
traffic is projected to continue growing in the long term and the global
passenger aircraft fleet is forecasted to double by 2030. |
|
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|
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|
As of December 2012, vehicles registered with the Land Transport
Authority grew by 1.4% to a total of 969,910. These comprised 605,149 private
and concern cars, 14,862 rental cars, 28,210 taxis, 17,162 buses, 144,110
motorcycles and scooters, and 160,417 goods vehicles and other vehicle types. |
|
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|
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|
Besides, for the water transport sub-sector, the container throughput grew
by 5.7% in 2012, slightly faster than the 5.3% growth in 2011. The number of
twenty-foot equivalent units (TEUs) handled by Singapore's ports rose to 32
million, higher than the previous peak of 30 million reached in 2011. Sea
cargo volumes also increased, but at a slower pace of 1.3%, compared to the
5.5% growth in 2011. |
|
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The uncertain economic outlook ahead continues to weigh down on
business confidence, which in turn negatively impacts global travel and trade
volume. |
|
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OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
During our investigation, we were unable to contact the Subject as well as its Owner. In view of this, the Subject's existence in the market is in doubt. Based on the above condition, the Subject is not qualified for credit assessment. |
No latest financial
accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.