|
|
REGISTRATION
NO.
|
:
|
198701726-M
|
|
COMPANY NAME
|
:
|
G - STEELMET
PTE. LIMITED
|
|
FORMER NAME
|
:
|
STEELMET PTE
LTD (20/07/2007)
JMK-SELTRON PTE LTD (15/11/1993)
AGIO-SELTRON PTE LTD (06/01/1992)
|
|
INCORPORATION
DATE
|
:
|
18/06/1987
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
3, SHENTON
WAY, 08-09, SHENTON HOUSE, 068805, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
3 SHENTON WAY,
08-09 SHENTON HOUSE, 068805, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62243377
|
|
FAX.NO.
|
:
|
65-62240944
|
|
EMAIL
|
:
|
INFO@G-STEELMET.COM
|
|
WEB SITE
|
:
|
HTTP://G-STEELMET.COM
|
|
CONTACT PERSON
|
:
|
TAN SOW WAN (
DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
WHOLESALE OF
STEEL, METAL AND OTHERS
|
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
7,000,000.00 ORDINARY
SHARE, OF A VALUE OF SGD 7,000,000.00
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
10 [2014]
|
|
|
|
LITIGATION
|
:
|
TRACED
|
|
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) wholesale of steel, metal and others.
Share Capital
History
|
Date
|
Issue &
Paid Up Capital
|
|
22/09/2014
|
SGD 7,000,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
SUBHASH
CHANDRA SHARMA +
|
20, PEACH
GARDEN, PEACH GARDEN, 437618, SINGAPORE.
|
S2580430I
|
4,543,310.00
|
64.90
|
|
SHARMA SAAVITA
+
|
20, PEACH
GARDEN, PEACH GARDEN, 437618, SINGAPORE.
|
S2580431G
|
2,233,310.00
|
31.90
|
|
TAN SOW WAN +
|
546, WOODLANDS
DRIVE 16, 11-207, 730546, SINGAPORE.
|
S1415680A
|
223,380.00
|
3.19
|
|
|
|
|
---------------
|
------
|
|
|
|
|
7,000,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
TAN SOW WAN
|
|
Address
|
:
|
546, WOODLANDS
DRIVE 16, 11-207, 730546, SINGAPORE.
|
|
IC / PP No
|
:
|
S1415680A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
26/08/1989
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
SHARMA SAAVITA
|
|
Address
|
:
|
20, PEACH GARDEN,
PEACH GARDEN, 437618, SINGAPORE.
|
|
IC / PP No
|
:
|
S2580431G
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
06/10/1993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
SUBHASH
CHANDRA SHARMA
|
|
Address
|
:
|
20, PEACH
GARDEN, PEACH GARDEN, 437618, SINGAPORE.
|
|
IC / PP No
|
:
|
S2580430I
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
16/08/1989
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
TAN SOW WAN
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
STAMFORD
ASSOCIATES LLP
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
TAN SOW WAN
|
|
|
IC / PP No
|
:
|
S1415680A
|
|
|
|
|
|
|
|
Address
|
:
|
546, WOODLANDS
DRIVE 16, 11-207, 730546, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
STANDARD
CHARTERED BANK
|
|
|
|
|
|
|
|
|
|
|
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200703984
|
26/05/2007
|
N/A
|
STANDARD
CHARTERED BANK
|
-
|
Unsatisfied
|
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION
|
|
|
|
|
|
Code No
|
:
|
99
|
Case No
|
:
|
23479
|
|
|
|
|
|
|
Year
|
:
|
2004
|
Place
|
:
|
SINGAPORE
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE
COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
27/09/2004
|
|
|
|
|
|
|
|
|
|
Solicitor
|
:
|
VANGADASALAM SURIAMURTHI
|
|
|
|
|
|
|
|
|
|
Solicitor Firm
|
:
|
KISHAN & V
SURIA PARTNERSHIP
|
|
|
|
|
|
|
Plaintiff
|
:
|
MARKONO
LOGISTIC PTE LTD
|
|
|
|
|
Defendants
|
:
|
|
G - STEELMET
PTE. LIMITED (198701726)
|
|
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
1789.75
|
|
|
|
|
|
|
|
|
|
Nature of
Claim
|
:
|
SGD
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
CONTRACT-SALE
OF GOODS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE:
|
Please check with
creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed. The person wo has been sued has the same
name as the subject. However, we are unable to determine whether the person
sued is the one and the same person.
|
|
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
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded
|
:
|
STEEL, METAL
AND OTHERS
|
|
|
|
|
|
Total Number
of Employees:
|
|
YEAR
|
2014
|
2011
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
10
|
16
|
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of steel,
metal and others.
The Subject is a leading export company engaged in most metal related
business from production and procurement. They have a large consumer base,
from industrial plants to trading houses in Asia. They trade in commodities
and metals (non-ferrous) and scrap metal.
Products dealings:
-Ferrous metals
* steel billets
* hot rolled sheets
* cold rolled sheets
* galvanized iron corrugated & plain sheets
-Non ferrous metals
* aluminum ingots
* zinc ingots
* nickel cathodes
* tin ingots
* lead ingots
* copper cathodes and wire rods-semis (all lme registered brands &
materials)
-Ferro alloys
* ferro magnese
* ferro silicon
* silicon magnese
* magnesium metals
* antimony metals for steel industries
-Iron ore fines
* 55 - 66% grades
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
6562243377
|
|
Current
Telephone Number
|
:
|
65-62243377
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address
Provided by Client
|
:
|
3 SHENTON WAY,
08-09 SHENTON HOUSE,068805 SINGAPORE
|
|
Current
Address
|
:
|
3 SHENTON WAY,
08-09 SHENTON HOUSE, 068805, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
We have contacted the Subject's Accountant and its Company Secretary for
the latest financial accounts. However they have rejected our request in
view of the confidentiality of the documents.
|
|
|
Other Investigations
On 18th September 2014 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
|
|
|
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.
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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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CREDIT RISK EVALUATION &
RECOMMENDATION
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Incorporated in 1987, the Subject is an Exempt Private company, focusing on
wholesale of steel, metal and others. The Subject has been in business for
over two decades. It has built up a strong clientele base which will enable
the Subject to further enhance its business in the near term. The
Subject is expected to enjoy a stable market shares. The capital standing
of the Subject is fair. With an adequate share capital, the Subject has the
potential of expanding its business in future.
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. Being a small
company, the Subject's business operation is supported by 10 employees.
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.
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 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. Hence, the Subject is expected to benefit from the
favourable outlook of the industry.
In view of the above, we recommend credit be granted to the Subject with
close monitoring.
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No latest financial accounts are available at the Registry Office.
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