|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SINGAPORE JULONG
INTERNATIONAL INVESTMENT PTE. LTD. |
|
|
|
|
Registered Office : |
7, Temasek Boulevard, 15-03, Suntec Tower
One, 038987 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
25.04.2011 |
|
|
|
|
Com. Reg. No.: |
201109814-G |
|
|
|
|
Legal Form : |
Exempt Private Company |
|
|
|
|
Line of Business : |
engaged in trading
of Palm Oil |
|
|
|
|
No of Employees : |
22 (2014) |
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 – 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 Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
201109814-G |
||||
|
COMPANY NAME |
: |
SINGAPORE JULONG
INTERNATIONAL INVESTMENT PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
25/04/2011 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
7, TEMASEK BOULEVARD, 15-03, SUNTEC TOWER
ONE, 038987, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
7 TEMASEK BOULEVARD HEX 15-03 SUNTEC TOWER
1,, 038987, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68879800 |
||||
|
FAX.NO. |
: |
65-68879801 |
||||
|
CONTACT PERSON |
: |
CHEN YAN ( DIRECTOR ) |
||||
|
|
|
|
||||
|
|
|
|
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL |
||||
|
|
|
|
||||
|
ISSUED AND PAID UP CAPITAL |
: |
15,000,000.00 ORDINARY SHARE, OF A VALUE
OF USD 15,000,000.00 |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
22 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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) trading of palm oil.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/05/2014 |
USD 15,000,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ZHANG YA + |
12, DESHENG ALLEY TIANMU VILLAGE, TIANMU TOWN, BEICHEN DISTRICT, TIANJIN, CHINA. |
G49669756 |
12,000,000.00 |
80.00 |
|
ZHANG BING + |
26, TEAM 4, MINZHU STREET, KAILU TOWN, KAILU COUNTY, TONGLIAO CITY, INNER MONGOLIA, CHINA. |
G25324418 |
3,000,000.00 |
20.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
15,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
CHEN YAN |
|
Address |
: |
130, TANJONG RHU ROAD, 02-17, PEBBLE BAY, 436918, SINGAPORE. |
|
IC / PP No |
: |
S7861918Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/02/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
ZHANG BING |
|
Address |
: |
26, TEAM 4, MINZHU STREET, KAILU TOWN, KAILU COUNTY, TONGLIAO CITY, INNER MONGOLIA, CHINA. |
|
IC / PP No |
: |
G25324418 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
25/04/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
ZHANG YA |
|
Address |
: |
12, DESHENG ALLEY TIANMU VILLAGE, TIANMU TOWN, BEICHEN DISTRICT, TIANJIN, CHINA. |
|
IC / PP No |
: |
G49669756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
25/04/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
CHEN YAN |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
RSM CHIO LIM LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
WONG CHUEN SHYA @ HUANG CHUNXIA |
|
|
IC / PP No |
: |
S7439653D |
|
|
|
|
|
|
|
Address |
: |
47, JALAN TIGA, 03-42, 390047, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD CHARTERED BANK |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
|
|
|
|
|
|
|
|
|
|
|
4) |
Name |
: |
BANK OF CHINA LIMITED |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201112161 |
28/09/2011 |
N/A |
INDUSTRIAL & COMMERCIAL BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201116317 |
28/12/2011 |
N/A |
STANDARD CHARTERED BANK (SINGAPORE) |
- |
Unsatisfied |
|
C201116328 |
28/12/2011 |
N/A |
STANDARD CHARTERED BANK (SINGAPORE) |
- |
Unsatisfied |
|
C201207419 |
04/07/2012 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201303725 |
11/03/2013 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201303729 |
11/03/2013 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201305722 |
26/04/2013 |
N/A |
DBS BANK LIMITED |
- |
Unsatisfied |
|
C201315355 |
14/11/2013 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201400272 |
07/01/2014 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201400273 |
07/01/2014 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201400274 |
07/01/2014 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
* 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.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
PALM OIL
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2012 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
22 |
22 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The Subject is
principally engaged in the (as a / as an) trading of palm oil.
The Subject refused to disclose any information on its operation.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568879800 |
|
Current Telephone Number |
: |
65-68879800 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
7 TEMASEK BOULEVARD 15-03 SUNTEC TOWER -
1, SINGAPORE - 038987 |
|
Current Address |
: |
7 TEMASEK BOULEVARD HEX 15-03 SUNTEC TOWER
1,, 038987, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
we contacted one of the staff from the Subject and she provided some
information.
|
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 |
||||||
|
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 : |
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 2011, the Subject is an
Exempt Private company, focusing on trading of palm oil. The Subject has been
in business for 3 years and it has slowly been building up contact with its clients
while competing in the industry. However, it has yet to enjoy a stable market
shares as it need to compete many well established players in the same field.
With a weak shareholders' backing, the Subject's capital position is
weak. Although the Subject has been in the
business for less than a decade, it has established an extensive marketing
network to support its business operation. Penetrating into the overseas
countries has well diversified its business risk. However, the Subject faces
fierce competition from other well established company. Being a small
company, the Subject's business operation is supported by 22 employees.
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 industry shows an upward trend and
this trend is very likely to sustain in the near terms. However, we are of the
opinion that there are a large number of other companies in the same
industry. In another word, we believe that the Subject faces stiff
competitions from other local players. In view of the above, we only recommend
credit be proceeded to the Subject with guarantee. |
|
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.43 |
|
UK Pound |
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
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.