|
|
REGISTRATION
NO.
|
:
|
200007028-E
|
|
COMPANY NAME
|
:
|
ARTHESDAM
JEWELLERY PTE LTD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
11/08/2000
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
95, SERANGOON
ROAD, 218000, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
95 SERANGOON
ROAD, 218000, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62991729
|
|
FAX.NO.
|
:
|
65-62994879
|
|
CONTACT PERSON
|
:
|
LAM LOY CHONG
( DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
JEWELLERY
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
1,800,000.00
ORDINARY SHARE, OF A VALUE OF SGD 1,800,000.00
|
|
|
|
|
SALES
|
:
|
SGD 83,310,938
[2013]
|
|
NET WORTH
|
:
|
SGD 19,645,520
[2013]
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
BANKER (S)
|
:
|
|
UNITED
OVERSEAS BANK LIMITED
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
MODERATE
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY
OUTLOOK
|
:
|
AVERAGE GROWTH
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. 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, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject
is insolvent. The Subject is governed by the Companies Act and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the
(as a / as an) trading of jewellery.
Share Capital History
|
Date
|
Issue &
Paid Up Capital
|
|
03/10/2014
|
SGD
1,800,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
LAM LOY CHONG
+
|
95, SERONGAN
ROAD, 218000, SINGAPORE.
|
S0190293H
|
454,650.00
|
25.26
|
|
CHONG MEI SANG
+
|
1, HUME
AVENUE, 02-08, 598718, SINGAPORE.
|
S2636024B
|
141,700.00
|
7.87
|
|
LAM SEN CHONG
ALAN +
|
44, SPRINGLEAF
GARDEN, 788204, SINGAPORE.
|
S1411692C
|
132,000.00
|
7.33
|
|
LAM FOOK CHONG
+
|
34, CHAI CHEE
AVENUE, 19-250, 461034, SINGAPORE.
|
S1557584J
|
123,750.00
|
6.88
|
|
CHIA SIAN
KHEAN +
|
27, HUME
AVENUE, 08-04, 598731, SINGAPORE.
|
S1442277C
|
114,500.00
|
6.36
|
|
LEE TIEW NGIN
MDM
|
10, TAI KENG
GARDENS, 535292, SINGAPORE.
|
S0780337J
|
109,000.00
|
6.06
|
|
LAM KHOON YOU
@ LAU KHOON YOU +
|
112, BEDOK
RESERVOIR ROAD, 04-268, 470112, SINGAPORE.
|
S0728050E
|
77,200.00
|
4.29
|
|
WOO SIN CHAI +
|
35, PUNGGOL
FIELD, 09-22, PRIVE, 828818, SINGAPORE.
|
S1410963C
|
60,000.00
|
3.33
|
|
CHERYL LAM
JING WEN
|
10, TAI KENG
GARDENS, 535292, SINGAPORE.
|
S7115863B
|
59,500.00
|
3.31
|
|
LAM SIEW LIN
|
6, BISHAN
STREET 25, 13-12, CLOVER BY THE PARK, 573975, SINGAPORE.
|
S1710236B
|
59,500.00
|
3.31
|
|
WOO SIN YONG
|
285, TAMPINES
STREET 22, 07-205, 520285, SINGAPORE.
|
S1690781B
|
50,000.00
|
2.78
|
|
VONG SIEW LEE
+
|
232A,
SERANGOON AVENUE 2, 14-127, 551232, SINGAPORE.
|
S1520897Z
|
46,000.00
|
2.56
|
|
LAM YEE WUA
|
112, BEDOK NORTH
ROAD, 10-337, 460112, SINGAPORE.
|
S7800563G
|
40,000.00
|
2.22
|
|
LAM KA CHONG
(LAN JIACHANG)
|
112, BEDOK
RESERVOIR ROAD, 04-268, 470112, SINGAPORE.
|
S7429687D
|
40,000.00
|
2.22
|
|
VONG SIEW SOON
|
495B, TAMPINES
STREET 43, 11-396, 521495, SINGAPORE.
|
S1394058D
|
40,000.00
|
2.22
|
|
VONG SIEW
KHONG
|
700, LORONG 1,
TOA PAYOH, TRELLIS TOWERS, 319773, SINGAPORE.
|
S7130862F
|
40,000.00
|
2.22
|
|
VONG FUT SENG
+
|
145, BISHAN
STREET 11, 06-73, 570145, SINGAPORE.
|
S0549077D
|
34,200.00
|
1.90
|
|
HO HWEE SHI
|
194, BISHAN
STREET 13, 16-537, 570194, SINGAPORE.
|
S8103453B
|
30,000.00
|
1.67
|
|
YONG POH FATT
|
6, BISHAN
STREET 25, 13-12 CLOVER BY THE PARK, 573975, SINGAPORE.
|
S1648903D
|
30,000.00
|
1.67
|
|
HO WENG KHIAM
|
37, HUME
AVENUE, 10-06, SYMPHONY HEIGHTS, 598736, SINGAPORE.
|
S2157519D
|
25,000.00
|
1.39
|
|
CHONG KWEK WU
|
115, BEDOK
NORTH ROAD, 10-319, 460115, SINGAPORE.
|
S0056753A
|
23,000.00
|
1.28
|
|
LIM MENG IN
|
112, BEDOK RESERVOIR
ROAD, 04-268, 470112, SINGAPORE.
|
S1678783C
|
20,000.00
|
1.11
|
|
LIM SIEW CHOO
@ SAI MOY
|
165, SIMEI
ROAD, 05-368, 520165, SINGAPORE.
|
S1847451D
|
20,000.00
|
1.11
|
|
TEO POH CHU
|
186, PUNGGOL
CENTRAL, 15-255, 820186, SINGAPORE.
|
S0203828E
|
20,000.00
|
1.11
|
|
HO KWEN FOONG
|
20, BUKIT
BATOK STREET 52, 26-03, GUILIN VIEW, 659244, SINGAPORE.
|
S2103947J
|
10,000.00
|
0.56
|
|
|
|
---------------
|
------
|
|
|
|
1,800,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
VONG FUT SENG
|
|
Address
|
:
|
145, BISHAN
STREET 11, 06-73, 570145, SINGAPORE.
|
|
IC / PP No
|
:
|
S0549077D
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
25/10/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
VONG SIEW LEE
|
|
Address
|
:
|
232A,
SERANGOON AVENUE 2, 14-127, 551232, SINGAPORE.
|
|
IC / PP No
|
:
|
S1520897Z
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
25/10/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of
Subject
|
:
|
WOO SIN CHAI
|
|
Address
|
:
|
35, PUNGGOL
FIELD, 09-22, PRIVE, 828818, SINGAPORE.
|
|
IC / PP No
|
:
|
S1410963C
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
25/10/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of
Subject
|
:
|
LAM KHOON YOU
@ LAU KHOON YOU
|
|
Address
|
:
|
112, BEDOK
RESERVOIR ROAD, 04-268, 470112, SINGAPORE.
|
|
IC / PP No
|
:
|
S0728050E
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
25/10/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of
Subject
|
:
|
CHIA SIAN
KHEAN
|
|
Address
|
:
|
27, HUME
AVENUE, 08-04, 598731, SINGAPORE.
|
|
IC / PP No
|
:
|
S1442277C
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
21/12/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of
Subject
|
:
|
LAM FOOK CHONG
|
|
Address
|
:
|
34, CHAI CHEE
AVENUE, 19-250, 461034, SINGAPORE.
|
|
IC / PP No
|
:
|
S1557584J
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
24/10/2002
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 7
|
Name Of
Subject
|
:
|
LAM SEN CHONG
ALAN
|
|
Address
|
:
|
44, SPRINGLEAF
GARDEN, 788204, SINGAPORE.
|
|
IC / PP No
|
:
|
S1411692C
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
25/10/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 8
|
Name Of
Subject
|
:
|
CHONG MEI SANG
|
|
Address
|
:
|
1, HUME AVENUE,
02-08, 598718, SINGAPORE.
|
|
IC / PP No
|
:
|
S2636024B
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
21/12/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 9
|
Name Of
Subject
|
:
|
LAM LOY CHONG
|
|
Address
|
:
|
95, SERONGAN
ROAD, 218000, SINGAPORE.
|
|
IC / PP No
|
:
|
S0190293H
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
11/08/2000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
LAM LOY CHONG
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
Auditor
|
:
|
FOONG PAK
LEONG & COMPANY
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
Auditor
|
:
|
FOONG PAK
LEONG & COMPANY
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
TAN WAH THONG
|
|
IC / PP No
|
:
|
S0075430G
|
|
|
|
|
|
Address
|
:
|
23, FIGARO
STREET, OPERA ESTATE, 458348, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
UNITED
OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
|
|
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200304119
|
28/08/2003
|
N/A
|
UNITED
OVERSEAS BANK LIMITED
|
-
|
Unsatisfied
|
|
C200501119
|
23/02/2005
|
N/A
|
UNITED
OVERSEAS BANK LIMITED
|
-
|
Unsatisfied
|
LEGAL
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt 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
|
Percentage
|
:
|
100%
|
|
Domestic
Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
CASH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded
|
:
|
GOLD &
JEWELLERY
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
jewellery.
The Subject sells gold jewelleries.
The Subject also provides related services for the products.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-62991729
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address
Provided by Client
|
:
|
46 EALING ROAD
89 SCRANGAOON ROAD, SINGAPORE 217994
|
|
Current
Address
|
:
|
95 SERANGOON
ROAD, 218000, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
Other
Investigations
On 7th October 2014 we contacted one of the staff from the Subject and she
provided some information.
The address provided belongs to the Subject's branch.
The Subject refused to disclose its number of employees.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Increased
|
[
|
2011 - 2013
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Increased
|
[
|
2011 - 2013
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Acceptable
|
[
|
27.88%
|
]
|
|
|
Return on Net
Assets
|
:
|
Favourable
|
[
|
32.74%
|
]
|
|
|
|
|
|
|
|
|
|
The Subject's
turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The higher profit
could be attributed to the increase in turnover. The Subject's management had
generated acceptable return for its shareholders using its assets.
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Unfavourable
|
[
|
87 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
2 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
0 Days
|
]
|
|
|
|
|
|
|
|
|
|
The Subject
could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors.
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Unfavourable
|
[
|
0.46 Times
|
]
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
9.01 Times
|
]
|
|
|
|
|
|
|
|
|
|
A low liquid
ratio means that the Subject may be facing working capital deficiency. If
the Subject cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations.
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Favourable
|
[
|
121.92 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.03 Times
|
]
|
|
|
|
|
|
|
|
|
|
The interest
cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. The Subject was lowly geared thus
it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
Generally, the
Subject's performance has improved with higher turnover and profit. Due to
its weak liquidity position, the Subject will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. With the favourable interest
cover, the Subject could be able to service all the accrued interest
without facing any difficulties. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations.
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : FAIR
|
|
|
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)
|
|
|
|
|
|
|
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 2000, the Subject is a Private Limited company, focusing on
trading of jewellery. Having been in the industry for over a decade, the
Subject has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. With a paid up capital of SGD 1,800,000, the Subject has greater
opportunities to expand its business when the needs arise. Under the
control of its directors, we considered that the Subject's business
position in the market is much dependent on their abilities.
Over the years, the Subject should have build up its clientele base and
received supports from its regular customers. Investigation revealed that
the Subject's interest lies mostly in the local market. Thus, any adverse
changes to the local economy might have a negative impact on the Subject's
business performance. Overall, we regard that the Subject's management
capability is average. This indicates that the Subject has greater
potential to improve its business performance and raising income for the
Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Return on shareholders' funds of
the Subject was at an acceptable range which indicated that the management
was efficient in utilising its funds to generate income. Due to its weak
liquidity position, the Subject may face working capital deficiency in meeting
its short term financial obligations if no fresh capital are injected into
the Subject. Being a lowly geared company, the Subject is exposed to low
financial risk as it is mainly dependent on its internal funds to finance
its business needs. Given a positive net worth standing at SGD 19,645,520,
the Subject should be able to maintain its business in the near terms.
Having a strong assets backing, the Subject possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
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.
Based on the strong financial condition, we recommend credit be granted to
the Subject promptly.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
ARTHESDAM
JEWELLERY PTE LTD
|
|
Financial Year
End
|
2013-11-30
|
2012-11-30
|
2011-11-30
|
|
Months
|
12
|
12
|
12
|
|
Consolidated
Account
|
Company
|
Company
|
Company
|
|
Audited
Account
|
YES
|
YES
|
YES
|
|
Unqualified
Auditor's Report (Clean Opinion)
|
YES
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
FULL
|
|
Currency
|
SGD
|
SGD
|
SGD
|
|
|
|
|
|
TURNOVER
|
83,310,938
|
71,580,911
|
70,273,451
|
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
83,310,938
|
71,580,911
|
70,273,451
|
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
6,525,531
|
4,793,651
|
4,518,472
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
6,525,531
|
4,793,651
|
4,518,472
|
|
Taxation
|
(1,049,242)
|
(744,353)
|
(739,671)
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
5,476,289
|
4,049,298
|
3,778,801
|
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD
|
|
|
|
|
As previously
reported
|
12,909,231
|
9,399,933
|
6,161,132
|
|
----------------
|
----------------
|
----------------
|
|
As restated
|
12,909,231
|
9,399,933
|
6,161,132
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
18,385,520
|
13,449,231
|
9,939,933
|
|
DIVIDENDS -
Ordinary (paid & proposed)
|
(540,000)
|
(540,000)
|
(540,000)
|
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS)
CARRIED FORWARD
|
17,845,520
|
12,909,231
|
9,399,933
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L)
|
|
|
|
|
Bank overdraft
|
-
|
120,956
|
140,815
|
|
Others
|
53,966
|
-
|
-
|
|
----------------
|
----------------
|
----------------
|
|
53,966
|
120,956
|
140,815
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
ARTHESDAM
JEWELLERY PTE LTD
|
|
ASSETS
EMPLOYED:
|
|
|
|
|
FIXED ASSETS
|
1,461,226
|
1,199,492
|
1,220,956
|
|
|
|
|
|
Others
|
-
|
-
|
150,000
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM INVESTMENTS/OTHER ASSETS
|
-
|
-
|
150,000
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
1,461,226
|
1,199,492
|
1,370,956
|
|
|
|
|
|
Stocks
|
19,889,738
|
13,149,804
|
9,678,802
|
|
Trade debtors
|
376,676
|
761,217
|
320,057
|
|
Other debtors,
deposits & prepayments
|
695,726
|
4,061,350
|
4,342,696
|
|
Cash & bank
balances
|
-
|
92,569
|
40,639
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
20,962,140
|
18,064,940
|
14,382,194
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
22,423,366
|
19,264,432
|
15,753,150
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
Trade
creditors
|
-
|
-
|
418,627
|
|
Other
creditors & accruals
|
2,256,603
|
1,706,592
|
1,208,927
|
|
Bank overdraft
|
-
|
1,343,801
|
1,334,138
|
|
Short term
borrowings/Term loans
|
69,336
|
245,336
|
261,836
|
|
Provision for
taxation
|
-
|
745,000
|
751,000
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
2,325,939
|
4,040,729
|
3,974,528
|
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
18,636,201
|
14,024,211
|
10,407,666
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
20,097,427
|
15,223,703
|
11,778,622
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
Ordinary share
capital
|
1,800,000
|
1,800,000
|
1,800,000
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
1,800,000
|
1,800,000
|
1,800,000
|
|
|
|
|
|
Retained
profit/(loss) carried forward
|
17,845,520
|
12,909,231
|
9,399,933
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
17,845,520
|
12,909,231
|
9,399,933
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
19,645,520
|
14,709,231
|
11,199,933
|
|
|
|
|
|
Long term
loans
|
438,727
|
505,672
|
569,289
|
|
Others
|
13,180
|
8,800
|
9,400
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM LIABILITIES
|
451,907
|
514,472
|
578,689
|
|
----------------
|
----------------
|
----------------
|
|
20,097,427
|
15,223,703
|
11,778,622
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
|
|
ARTHESDAM
JEWELLERY PTE LTD
|
|
TYPES OF FUNDS
|
|
|
|
|
Cash
|
0
|
92,569
|
40,639
|
|
Net Liquid
Funds
|
0
|
(1,251,232)
|
(1,293,499)
|
|
Net Liquid
Assets
|
(1,253,537)
|
874,407
|
728,864
|
|
Net Current
Assets/(Liabilities)
|
18,636,201
|
14,024,211
|
10,407,666
|
|
Net Tangible
Assets
|
20,097,427
|
15,223,703
|
11,778,622
|
|
Net Monetary
Assets
|
(1,705,444)
|
359,935
|
150,175
|
|
BALANCE SHEET
ITEMS
|
|
|
|
|
Total
Borrowings
|
508,063
|
2,094,809
|
2,165,263
|
|
Total
Liabilities
|
2,777,846
|
4,555,201
|
4,553,217
|
|
Total Assets
|
22,423,366
|
19,264,432
|
15,753,150
|
|
Net Assets
|
20,097,427
|
15,223,703
|
11,778,622
|
|
Net Assets
Backing
|
19,645,520
|
14,709,231
|
11,199,933
|
|
Shareholders'
Funds
|
19,645,520
|
14,709,231
|
11,199,933
|
|
Total Share
Capital
|
1,800,000
|
1,800,000
|
1,800,000
|
|
Total Reserves
|
17,845,520
|
12,909,231
|
9,399,933
|
|
LIQUIDITY
(Times)
|
|
|
|
|
Cash Ratio
|
0.00
|
0.02
|
0.01
|
|
Liquid Ratio
|
0.46
|
1.22
|
1.18
|
|
Current Ratio
|
9.01
|
4.47
|
3.62
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
|
Stock Ratio
|
87
|
67
|
50
|
|
Debtors Ratio
|
2
|
4
|
2
|
|
Creditors
Ratio
|
0
|
0
|
2
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
|
Gearing Ratio
|
0.03
|
0.14
|
0.19
|
|
Liabilities
Ratio
|
0.14
|
0.31
|
0.41
|
|
Times Interest
Earned Ratio
|
121.92
|
40.63
|
33.09
|
|
Assets Backing
Ratio
|
11.17
|
8.46
|
6.54
|
|
PERFORMANCE
RATIO (%)
|
|
|
|
|
Operating
Profit Margin
|
7.83
|
6.70
|
6.43
|
|
Net Profit
Margin
|
6.57
|
5.66
|
5.38
|
|
Return On Net
Assets
|
32.74
|
32.28
|
39.56
|
|
Return On
Capital Employed
|
32.74
|
29.66
|
35.53
|
|
Return On
Shareholders' Funds/Equity
|
27.88
|
27.53
|
33.74
|
|
Dividend Pay
Out Ratio (Times)
|
0.10
|
0.13
|
0.14
|
|
NOTES TO
ACCOUNTS
|
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
0
|
|