|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Correct Name : |
MANLY
TRADING |
|
|
|
|
Registered Office : |
Blk 1092, Lower Delta Road, 05-04 Maple Tree Industrial
Estate, 169203 |
|
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Country : |
Singapore |
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Date of Incorporation : |
06.01.1986 |
|
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Com. Reg. No.: |
35399700-E |
|
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
·
Engaged in trading food and beverage products. Subject
sells chocolates, confectioneries and cookies. Subject
also sells tea and beverage 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 |
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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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
* Adopted abbreviations : |
SC - Subject Concern (the concern enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
35399700-E |
|
CONCERN NAME |
: |
MANLY
TRADING |
|
COMMENCEMENT DATE |
: |
06/01/1986 |
|
REGISTRATION DATE |
: |
06/01/1986 |
|
EXPIRY DATE |
: |
06/01/2015 |
|
BUSINESS CONSTITUTION |
: |
SOLE PROPRIETORSHIP |
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|
BUSINESS ADDRESS |
: |
BLK 1092, LOWER DELTA ROAD, 05-04
MAPLE TREE INDUSTRIAL ESTATE, 169203, SINGAPORE. |
|
TEL.NO. |
: |
65-62750603 |
|
FAX.NO. |
: |
65-62752529 |
|
CONTACT PERSON |
: |
CHIU LAI KAM ( MANAGER ) |
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|
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|
PRINCIPAL ACTIVITY |
: |
TRADING OF FOOD AND BEVERAGE
PRODUCTS |
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|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
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|
|
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject commenced its business on 06/01/1986 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) trading of food and beverage products.
The owner of the
Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHIU LAI KAM |
182, YUNG SHENG ROAD, 17-55 , 610182, SINGAPORE. |
S2612734C |
100.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
OWNER(S) 1
|
Name Of Subject |
: |
CHIU LAI KAM |
|
Address |
: |
182, YUNG SHENG ROAD, 17-55, 610182, SINGAPORE. |
|
IC / PP No |
: |
S2612734C |
|
|
|
|
|
|
|
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Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/08/1993 |
|
Shareholding |
: |
100% |
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|
|
1) |
Name of Subject |
: |
CHIU LAI KAM |
|
|
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 |
: |
YES |
|
Overseas |
: |
YES |
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|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
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|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
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Payment Mode |
: |
CHEQUES |
|||
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Goods Traded |
: |
FOOD AND BEVERAGE PRODUCTS
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of food and
beverage products.
The Subject sells chocolates, confectioneries and cookies.
The Subject also sells tea and beverage products.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62750603 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
BLK 1092, LOWER DELTA ROAD, 05-04 MAPLE TREE INDUSTRIAL ESTATE, SINGAPORE - 169203 |
|
Current Address |
: |
BLK 1092, LOWER DELTA ROAD, 05-04 MAPLE TREE INDUSTRIAL ESTATE, 169203, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other
Investigations
we contacted one of the staff from the
Subject and she provided some information.
The Subject refused to disclose its number of employees.
|
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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|
|
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|
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Overall
financial condition of the Subject : N/A |
||||||
|
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) |
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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 1986, the Subject is a Sole Proprietorship concern, focusing on trading of food and beverage products. With over 2 decades of experience in the business, the Subject has fairly rich experiences in the business and has achieved a certain market share. Over the years, the Subject has penetrated into both the
local and overseas market. The Subject has positioned itself in the global
market and is competing in the industry. Its stable clientele base will
enable the Subject to further enhance its business in the near term. Overall,
we regard that the Subject's management capability is average. 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. The Subject however faces moderate business risk as it has to compete with many well established players in the same field. |
|
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
UK Pound |
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis
Done by : |
KAR |
|
|
|
|
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.