|
|
REGISTRATION NO.
|
:
|
198900680-Z
|
|
COMPANY NAME
|
:
|
MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
21/02/1989
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
668, CHANDER ROAD, 02-18, 210668, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
MUSTAFA CENTRE 145, SYED ALWI ROAD, 207704, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62955855
|
|
FAX.NO.
|
:
|
65-62982692
|
|
CONTACT PERSON
|
:
|
MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA ( DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
DEPARTMENT STORES CUM SUPERMARKETS & GENERAL WHOLESALE TRADING
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
13,340,000.00 ORDINARY SHARE, OF A VALUE OF SGD 13,340,000.00
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
STAFF STRENGTH
|
:
|
1600 [2014]
|
|
BANKER (S)
|
:
|
|
MALAYAN
BANKING BHD
UCO BANK
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
INDIAN OVERSEAS BANK
OVERSEA-CHINESE BANKING CORPORATION LTD
DBS BANK LTD
STANDARD CHARTERED BANK
THE BANK OF EAST ASIA LIMITED
CITIBANK N.A.
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
UNITED OVERSEAS BANK LIMITED
|
|
|
|
LITIGATION
|
:
|
TRACED
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
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) department stores cum supermarkets
& general wholesale trading.
Share Capital
History
|
Date
|
Issue &
Paid Up Capital
|
|
05/11/2012
|
SGD 13,340,000.00
|
The major shareholder(s) of the Subject are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA +
|
119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.
|
S2019378F
|
8,171,170.00
|
61.25
|
|
ESTATE OF SHAMSUDDIN
[DECEASED]
|
5, VERDUN ROAD, 07-02, SPA BUILDING, 207274, SINGAPORE.
|
S2077946B
|
2,016,993.00
|
15.12
|
|
ISHRET JAHAN +
|
119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.
|
S2595621D
|
1,165,667.00
|
8.74
|
|
ESTATE OF MUSTAFA
[DECEASED]
|
119, KENG LEE ROAD, 308405, SINGAPORE.
|
S2101665I
|
1,986,170.00
|
14.89
|
|
|
|
---------------
|
------
|
|
|
|
13,340,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates)
are shown as follow :
|
Local No
|
Country
|
Company
|
(%)
|
As At
|
|
199305738D
|
SINGAPORE
|
MUSTAFA ADVERTISING & MAIL ORDER PTE LTD
|
99.99
|
30/06/2012
|
|
|
|
|
|
|
200101778R
|
SINGAPORE
|
MUSTAFA DEVELOPMENT PTE LTD
|
99.99
|
30/06/2012
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
IQBAL AHMAD
|
|
Address
|
:
|
119, KENG LEE ROAD, 308405, SINGAPORE.
|
|
IC / PP No
|
:
|
S2586147G
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
03/09/2001
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
SHAMA BANO
|
|
Address
|
:
|
119, KENG LEE ROAD, 07-01, 308405, SINGAPORE.
|
|
IC / PP No
|
:
|
S7770799I
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
14/02/2001
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
ISHRET JAHAN
|
|
Address
|
:
|
119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.
|
|
IC / PP No
|
:
|
S2595621D
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
19/06/1991
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA
|
|
Address
|
:
|
119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.
|
|
IC / PP No
|
:
|
S2019378F
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
21/02/1989
|
|
1)
|
Name of Subject
|
:
|
MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
NATARAJAN & SWAMINATHAN
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
1)
|
Company Secretary
|
:
|
IQBAL AHMAD
|
|
IC / PP No
|
:
|
S2586147G
|
|
|
|
|
|
Address
|
:
|
119, KENG LEE ROAD, 308405, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
|
|
|
3)
|
Name
|
:
|
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
|
|
|
|
|
|
|
|
|
|
4)
|
Name
|
:
|
INDIAN OVERSEAS BANK
|
|
|
|
|
|
|
|
|
|
5)
|
Name
|
:
|
OVERSEA-CHINESE BANKING CORPORATION LTD
|
|
|
|
|
|
|
|
|
|
7)
|
Name
|
:
|
STANDARD CHARTERED BANK
|
|
|
|
|
|
|
|
|
|
8)
|
Name
|
:
|
THE BANK OF EAST ASIA LIMITED
|
|
|
|
|
|
|
|
|
|
10)
|
Name
|
:
|
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
|
|
|
|
|
|
|
|
|
|
11)
|
Name
|
:
|
UNITED OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200305315
|
07/11/2003
|
N/A
|
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
|
-
|
Unsatisfied
|
|
C200305316
|
07/11/2003
|
N/A
|
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
|
-
|
Unsatisfied
|
|
C200305321
|
07/11/2003
|
N/A
|
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
|
-
|
Unsatisfied
|
|
C200305669
|
26/11/2003
|
N/A
|
MALAYAN BANKING BHD
|
-
|
Unsatisfied
|
|
C200403202
|
02/07/2004
|
N/A
|
UCO BANK
|
-
|
Unsatisfied
|
|
C200404463
|
09/09/2004
|
N/A
|
THE BANK OF EAST ASIA LIMITED
|
-
|
Unsatisfied
|
|
C200502824
|
17/05/2005
|
N/A
|
STANDARD CHARTERED BANK (SINGAPORE)
|
-
|
Unsatisfied
|
|
C200503442
|
16/06/2005
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C200608068
|
29/11/2006
|
N/A
|
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
|
-
|
Unsatisfied
|
|
C200700134
|
08/01/2007
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C200700135
|
08/01/2007
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C200702630
|
05/04/2007
|
N/A
|
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
|
-
|
Unsatisfied
|
|
C200803214
|
08/04/2008
|
N/A
|
INDIAN OVERSEAS BANK
|
-
|
Unsatisfied
|
|
C200806091
|
04/07/2008
|
N/A
|
CITIBANK N.A.
|
-
|
Unsatisfied
|
|
C201007219
|
17/08/2010
|
N/A
|
UNITED OVERSEAS BANK LIMITED
|
-
|
Unsatisfied
|
|
C201008079
|
11/09/2010
|
N/A
|
INDIAN OVERSEAS BANK
|
-
|
Unsatisfied
|
|
C201105789
|
12/05/2011
|
N/A
|
INDIAN OVERSEAS BANK
|
-
|
Unsatisfied
|
|
C201112082
|
27/09/2011
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C201112085
|
27/09/2011
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C201201077
|
28/01/2012
|
N/A
|
EXPORT-IMPORT BANK OF INDIA
|
-
|
Unsatisfied
|
|
C201202022
|
22/02/2012
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C201202023
|
22/02/2012
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
|
C201205484
|
18/05/2012
|
N/A
|
OVERSEA-CHINESE BANKING CORPORATION LIMITED
|
-
|
Unsatisfied
|
|
C201402458
|
06/03/2014
|
N/A
|
CTBC BANK CO., LTD
|
-
|
Unsatisfied
|
LEGAL CHECK AGAINST SUBJECT
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION
|
|
|
|
|
Code No
|
:
|
99
|
Case No
|
:
|
16601
|
|
Year
|
:
|
2010
|
Place
|
:
|
SINGAPORE
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
Date Filed
|
:
|
29/06/2010
|
|
|
|
|
Solicitor Ref
|
:
|
DK/RA/478/2008
|
|
|
|
|
Solicitor Firm
|
:
|
DILIP KUMAR ASSOCIATES
|
|
Plaintiff
|
:
|
MUHAMMAD AKHTAR HAYAT
|
|
|
|
|
Defendants
|
:
|
|
MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD (198900680)
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
0
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
TORT-NEGLIGENCE (INDUSTRIAL ACCIDENT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Code No
|
:
|
99
|
Case No
|
:
|
32160
|
|
|
|
|
|
|
Year
|
:
|
2012
|
Place
|
:
|
SINGAPORE
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
04/12/2012
|
|
|
|
|
|
|
|
|
|
Solicitor Ref
|
:
|
BK.12958.12
|
|
|
|
|
|
|
|
|
|
Solicitor Firm
|
:
|
BONNIE KWOK LLC
|
|
|
|
|
|
|
Plaintiff
|
:
|
CHIA OW POO
|
|
|
|
|
Defendants
|
:
|
|
MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD (198900680)
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
3790
|
|
|
|
|
|
|
|
|
|
Nature of Claim
|
:
|
SGD
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
TORT-NEGLIGENCE (PROFESSIONAL ACCIDENTS WITHOUT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE:
|
Please check with creditors for confirmation as alleged debts may
have been paid since recorded or are being disputed. The person wo has been
sued has the same name as the subject. However, we are unable to determine
whether the person sued is the one and the same person.
|
|
No winding up petition was found in our databank
|
|
|
|
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CASH
CHEQUES
|
OPERATIONS
|
Services
|
:
|
DEPARTMENT STORES CUM SUPERMARKETS & GENERAL WHOLESALE TRADING
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2014
|
2013
|
2012
|
2011
|
2010
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
COMPANY
|
1600
|
800
|
800
|
800
|
800
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) department stores
cum supermarkets & general wholesale trading.
The Subject stores are well known for selling products catered to a wide
variety of needs and people. It has products for the entire range of people,
from the construction workers to the well-to-do. The store stocks more than
120,000 items, ranging from ready-made apparel to jewellery, sundry items and
household goods to luggage bags and electronics. The company conducts regular
consumer surveys and market research to know what people want in order to
cater to their needs. Hence, its product mix changes with customer needs.
Prices of products sold at the Subject are lower than its competitors with a
profit margin not exceeding 15%. The lower prices are possible because of the
huge turnover. Goods are imported directly, eliminating the need for
middlemen. They are bought in much bigger quantities, so lower prices can be
offered. The goods are bought at the cheapest possible sources, from
countries such as Malaysia, Indonesia, Thailand, Hong Kong and Singapore
itself. It is this simple business strategy that has worked for the company
since its beginning: "to buy and sell at the lowest prices
possible".
Hence, it is this wide range of products at reasonable and fair prices that
attracts people to its stores. On any given day, it sees an average of 15,000
customers. Its customer base is made up of 60 %. Singaporeans, both locals
and expatriates, and 40 % tourists. In terms of ethnicity, Indians form about
65 per cent of its customers. These satisfied customers give the stores much
needed and appreciated word-of-mouth publicity by recommending them to
others.
Product categories:
* Accessories
* Cosmetics
* Electronics
* Home appliance
* Jewellery
* Mobile phones
* Pharmacy
* Super market
* Textiles
Services:
* Foreign exchange
* Visa processing
* Travels booking
* Gold mart
* All kinds of shopping items
Agent/distributor for:
* Brother International Corporation (JP)
The Subject is a member of the following entity:
* Singapore Retailers Association
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
65-62955855
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address Provided by Client
|
:
|
145-SYED ALWI ROAD SINGAPORE 147707
|
|
Current Address
|
:
|
MUSTAFA CENTRE 145, SYED ALWI ROAD, 207704, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
Other Investigations
On 5th May 2014 we contacted one of the staff from the Subject and she
provided some information.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
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.
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : N/A
|
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
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
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
Construction
|
(36.9)
|
14.20
|
20.50
|
28.70
|
-
|
|
Real Estate
|
1.4
|
21.3
|
25.4
|
31.9
|
-
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
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
|
-
|
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100)
|
|
|
|
|
|
|
(Source : Department of Statistics)
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
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
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
Incorporated in 1989, the Subject is an Exempt Private company, focusing on
department stores cum supermarkets & general wholesale trading. 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. The Subject is a large entity with strong capital
position. However, the Subject does not have strong shareholders' backing.
Investigation revealed that the Subject concentrates only on the local
market. This narrow market segment has placed the Subject at high business
risk and limits its business expansion opportunities. Any adverse changes
to the local economy might have a negative impact on the Subject's business
performance. Being a large entity, the Subject has a steady workforce of
1,600 personnel to support its business operations. Its future prospects
seem to be fairly good as its business operations are running relatively
stable. Overall, we regard that the Subject's management capability is
average.
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 Subject'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 Subject is expected to benefit from the
favourable outlook of the industry. Nonetheless, the Subject should adopt
better competitive strategies in order to sustain its business position and
to compete with other well established players in the same industry.
In view of the above, we recommend credit be granted to the Subject with
close monitoring.
|
|
|
FINANCIAL ACCOUNT
No latest financial accounts are available at the Registry Office.
|