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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
OVERSEAS
VENTURES PTE LTD |
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Registered Office : |
141, Cecil Street, 02-03, Tung Ann Association Building, 069541 |
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Country : |
Singapore |
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Date of Incorporation : |
14.10.1989 |
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Com. Reg. No.: |
198904484-Z |
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Legal Form : |
Exempt Private |
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Line of Business : |
Trading of Minor Metals & Precious
Metals Products, Scrap & Secondary Products |
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No. of Employees |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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
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Source
: CIA |
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HISTORY / BACKGROUNDThe 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) trading of minor metals &
precious metals products, scrap & secondary products. Share Capital
History
The major shareholder(s) of the Subject are shown as follows :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
MANAGEMENT
AUDITOR
COMPANY SECRETARIES
BANKING
ENCUMBRANCE (S)
LEGAL CHECK AGAINST SUBJECT
PAYMENT RECORD
CLIENTELE
OPERATIONS
Other Information:
CURRENT INVESTIGATIONLatest fresh
investigations carried out on the Subject indicated that :
Other Investigations
FINANCIAL ANALYSIS
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
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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 |
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No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.05 |
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1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.