|
|
REGISTRATION
NO.
|
:
|
200809496-M
|
|
COMPANY NAME
|
:
|
ARES TECHTRADE
PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
14/05/2008
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
Private
Limited
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
17, Phillip
Street, 05-01, Grand Building, 048695, Singapore.
|
|
BUSINESS
ADDRESS
|
:
|
17 Phillip
Street, #05-01, Grand Building, 048695, Singapore.
|
|
TEL.NO.
|
:
|
65-65387777
|
|
FAX.NO.
|
:
|
65-65333227
|
|
CONTACT PERSON
|
:
|
LEE LAI NAH (
DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
METAL AND METAL SCRAPS
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
2,000.00
ORDINARY SHARE, OF A VALUE OF SGD 2,000.00
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
SGD (4,069)
[2012]
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT
CAPABILITY
|
:
|
WEAK
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
MODERATE
|
|
CURRENCY
EXPOSURE
|
:
|
MODERATE
|
|
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 metal and metal scraps.
Share Capital History
|
Date
|
Issue & Paid
Up Capital
|
|
27/10/2014
|
SGD 2,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
LEE LAI NAH +
|
73, CAVENAGH
ROAD, 02-376, CAVENAGH GARDENS, 229624, SINGAPORE.
|
S1607980D
|
2,000.00
|
100.00
|
|
|
|
---------------
|
------
|
|
|
|
2,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
LEE LAI NAH
|
|
Address
|
:
|
73, CAVENAGH ROAD,
02-376, CAVENAGH GARDENS, 229624, SINGAPORE.
|
|
IC / PP No
|
:
|
S1607980D
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
14/05/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
LEE LAI NAH
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
No Auditor found in our databank
|
1)
|
Company
Secretary
|
:
|
CLIFFORD
EMMANUEL GERMAIN ABAYASEKARA
|
|
IC / PP No
|
:
|
S2191478I
|
|
|
|
|
|
Address
|
:
|
407B, FERNVALE
ROAD, 04-13, 792407, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
LITIGATION
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
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Local
|
:
|
YES
|
|
Domestic
Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of metal and
metal scraps.
The Subject act as a International Trading Company incorporated in Singapore.
The Subject is mainly dealing in metal and metal scraps.
The Subject is currently trading in HMS 1-2,stainless steel scraps coils and
pipes in both secondary and used, Aauminum scrap and lead battery scrap.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone Number
Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-65387777
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address
Provided by Client
|
:
|
17 PHILIPS
STREEET 05-01 GRAND BUILDING SINGAPORE 048695
|
|
Current
Address
|
:
|
17 PHILLIP STREET,
#05-01, GRAND BUILDING, 048695, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
Other
Investigations
On 27th October 2014 we contacted one of the staff from the Subject's
registered office and she provided some information.
She refused to disclose the number of employees.
The Subject and its Company Secretary refused to comment on the Subject's nil
turnover.
|
The Subject's
turnover was nil during the year indicate that it was inactive. As a result,
we are unable to comment on its 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)
|
|
|
|
|
|
|
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 2008, the Subject is a Private Limited company, focusing on
trading of metal and metal scraps. Having been in business for more than 5
years, the Subject has established a remarkable clientele base for itself
which has contributed to its business growth. With a small issued and paid
up capital of SGD 2,000 contributed by individual shareholders, the Subject
may face difficulties in its attempt to further expand its business in the
future compared to other competitor.
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 weak. Without capable
management, the Subject is unlikely to be successful and often contribute
to unacceptable levels of accountability. Weak management can affect
productivity, profitability, sales growth and ultimately can result in the
failure of a business.
The Subject has generated an unfavourable return on shareholders' funds
indicating that the management was inefficient in utilising its funds to
generate return. 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 zero geared
company, the Subject virtually has no financial risk as it is mainly
dependent on its internal funds to finance its business. The Subject's
unfavourable financial performance over the years has wiped out its
shareholders' funds to a deficit of SGD -4,069. Therefore, the Subject as a
going concern is much dependent on its ability to generate sufficient cash
flow and obtain additional financing to meet its future obligations.
Without a strong assets backing, the Subject may face difficulties in
getting loans for its future expansion and continued growth . 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. Overall the
Subject has a good control over its resources.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms.
Based on the above unfavourable condition, we regard granting credit to the
Subject to be quite risky. Hence, credit is not recommended.
|
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.
|
|
ARES TECHTRADE
PTE. LTD.
|
|
Financial
Year End
|
2012-06-30
|
2011-06-30
|
|
Months
|
12
|
12
|
|
Consolidated
Account
|
Company
|
Company
|
|
Audited
Account
|
YES
|
YES
|
|
Unqualified
Auditor's Report (Clean Opinion)
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
|
Currency
|
SGD
|
SGD
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
(4,518)
|
(4,220)
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
(4,518)
|
(4,220)
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
(4,518)
|
(4,220)
|
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously
reported
|
(1,551)
|
2,669
|
|
----------------
|
----------------
|
|
As restated
|
(1,551)
|
2,669
|
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
(6,069)
|
(1,551)
|
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
(6,069)
|
(1,551)
|
|
=============
|
=============
|
|
|
|
|
|
|
|
|
Cash &
bank balances
|
6,435
|
3,622
|
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
6,435
|
3,622
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
6,435
|
3,622
|
|
=============
|
=============
|
|
|
|
|
Other
creditors & accruals
|
2,005
|
2,010
|
|
Amounts owing
to director
|
8,499
|
1,163
|
|
----------------
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
10,504
|
3,173
|
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
(4,069)
|
449
|
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
(4,069)
|
449
|
|
=============
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share
capital
|
2,000
|
2,000
|
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
2,000
|
2,000
|
|
|
|
|
Retained
profit/(loss) carried forward
|
(6,069)
|
(1,551)
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
(6,069)
|
(1,551)
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
(4,069)
|
449
|
|
|
|
|
----------------
|
----------------
|
|
(4,069)
|
449
|
|
=============
|
=============
|
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
6,435
|
3,622
|
|
Net Liquid
Funds
|
6,435
|
3,622
|
|
Net Liquid
Assets
|
(4,069)
|
449
|
|
Net Current
Assets/(Liabilities)
|
(4,069)
|
449
|
|
Net Tangible
Assets
|
(4,069)
|
449
|
|
Net Monetary
Assets
|
(4,069)
|
449
|
|
BALANCE SHEET
ITEMS
|
|
|
|
Total
Borrowings
|
0
|
0
|
|
Total
Liabilities
|
10,504
|
3,173
|
|
Total Assets
|
6,435
|
3,622
|
|
Net Assets
|
(4,069)
|
449
|
|
Net Assets
Backing
|
(4,069)
|
449
|
|
Shareholders'
Funds
|
(4,069)
|
449
|
|
Total Share
Capital
|
2,000
|
2,000
|
|
Total Reserves
|
(6,069)
|
(1,551)
|
|
LIQUIDITY
(Times)
|
|
|
|
Cash Ratio
|
0.61
|
1.14
|
|
Liquid Ratio
|
0.61
|
1.14
|
|
Current Ratio
|
0.61
|
1.14
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
0
|
0
|
|
Debtors Ratio
|
0
|
0
|
|
Creditors
Ratio
|
0
|
0
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
|
Liabilities
Ratio
|
(2.58)
|
7.07
|
|
Times Interest
Earned Ratio
|
0.00
|
0.00
|
|
Assets Backing
Ratio
|
(2.03)
|
0.22
|
|
PERFORMANCE
RATIO (%)
|
|
|
|
Operating
Profit Margin
|
0.00
|
0.00
|
|
Net Profit
Margin
|
0.00
|
0.00
|
|
Return On Net
Assets
|
111.03
|
(939.87)
|
|
Return On
Capital Employed
|
111.03
|
(939.87)
|
|
Return On
Shareholders' Funds/Equity
|
111.03
|
(939.87)
|
|
Dividend Pay
Out Ratio (Times)
|
0.00
|
0.00
|
|
NOTES TO
ACCOUNTS
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
|