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Report No. : |
334615 |
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Report Date : |
03.08.2015 |
IDENTIFICATION DETAILS
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Name : |
CONCEPT TO COMMISSIONING CONSULTANTS SINGAPORE PTE. LTD. |
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Registered Office : |
320, Serangoon Road, 04-55, Serangoon Plaza, 218108 |
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Country : |
Singapore |
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Date of Incorporation : |
12.04.2007 |
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Com. Reg. No.: |
200706093-H |
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Legal Form : |
Exempt Private |
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Line of Business : |
Business and management consultancy services. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Singapore |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
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Source
: CIA |
EXECUTIVE
SUMMARY
HISTORY
/ BACKGROUND
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) business and management consultancy
services. Share Capital
History
The major shareholder(s)
of the Subject are shown as follows : Current
Shareholder(s) :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
MANAGEMENT
AUDITOR
COMPANY
SECRETARIES
BANKING
No Banker found
in our databank.
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SOURCES OF RAW MATERIALS: |
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Local |
: |
N/A |
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Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's suppliers.
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Local |
: |
N/A |
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Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
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Services |
: |
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Branch |
: |
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Other Information:
The Subject is principally engaged in the (as a / as an) business and
management consultancy services.
The staff from the registered office refused to disclose the Subject's
operation.
Latest fresh
investigations carried out on the Subject indicated that :
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Telephone Number Provided By Client |
: |
9840098628 |
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Current Telephone Number |
: |
65-62949214 |
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Match |
: |
NO |
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Address Provided by Client |
: |
320 SERANGOON ROAD 55 SERANGON PLAZA, SINGAPORE 218108 |
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Current Address |
: |
320, SERANGOON ROAD, 04-55, SERANGOON PLAZA, 218108, SINGAPORE. |
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Match |
: |
NO |
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Other
Investigations
On 30th July 2015 we contacted one of the staff from the Subject's registered
office and she only provided limited information.
The address provided is incomplete.
She refused to disclose the Subject bankers and number of employees.
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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. |
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Overall financial condition of the
Subject : N/A |
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Major Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
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Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
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Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
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Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
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Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
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Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
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Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
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Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
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Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
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Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
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Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
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Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
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Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
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Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
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Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
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Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
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Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
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Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
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Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
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Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
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Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
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INDUSTRIES ( % of Growth ) : |
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Agriculture |
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Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
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Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
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Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
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Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
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Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
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Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
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Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
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Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
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Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
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Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
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Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
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Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
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Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
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Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
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Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
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Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
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Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
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Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
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Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
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Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
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Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
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Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
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Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
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Services |
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Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
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Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
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Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
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* Based on Index of Industrial Production (2011 = 100) |
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INDUSTRY : |
ECONOMY |
|
The Ministry of Trade and Industry (MTI) announced that it expects
the Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in
2015. Besides that in 2013, the economy grew by 4.1%, higher than the 1.9%
growth in 2012. This was mainly due to strong growth in the services
producing industries, particularly the finance & insurance, as well as
wholesale & retail trade sectors. |
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In 2013, all sectors contributed positively to growth. Finance &
insurance was the largest contributor (1.2 percentage-points), followed by
wholesale & retail trade (0.8 percentage-points) and business services
(0.6 percentage-points). Growth in the manufacturing sector was improved by
1.7%, on the back of strong growth in the electronics and transport engineering
clusters. By contrast, growth in the construction sector moderated to 5.9%,
from 8.6% in 2012. |
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|
Growth in the services producing industries picked up to 5.3% in
2013, from 2.0% in 2012. This was mainly due to stronger growth in the
finance & insurance and wholesale & retail trade sectors. The
finance & insurance sector grew by 11%, up from 1.3% in the previous
year. The wholesale & retail trade sector has expanded by 5.0%, after
declining by 1.4% the year before. |
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|
For the whole of 2013, growth in total demand was 3.1%, similar to
the pace of growth in 2012. External demand was the key contributor to
total demand growth, accounting for 2.7 percentage-points, or almost 90%,
of the increase. External demand grew at a faster pace of 3.6%, compared to
the 1.4% growth in 2012. This was supported mainly by growth in the exports
of machinery & transport equipment, miscellaneous manufactures, and
transport services. Total domestic demand rose by a modest 1.7%, following
the 8.6% increase in 2012. The slower growth in total domestic demand was
primarily due to the decline in gross fixed capital formation (GFCF). |
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|
For the full year, total consumption expenditure grew by 4.4% in
2013, faster than the 2.8% growth in 2012. Public consumption expenditure
increased by 11%, a strong rebound from the 1.9% decline in 2012. Private
consumption expenditure recorded gains of 2.7%, moderating from the 4.1%
increase in the preceding year. |
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Furthermore, in the first three quarters of 2014, the Singapore
economy grew by 3.3% on a year-on-year basis. For the rest of the year,
growth is expected to ease slightly on a year-on-year basis, in line with a
projected slowdown in the global economy. Externally-oriented sectors such
as the manufacturing and transportation & storage sectors are likely to
slow, whereas growth in the construction sector will continue to be weighed
down by the weakness in private sector construction activities. On the other
hand, domestically-oriented sectors like business services are likely to
remain resilient. |
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Additionally, the labour market in Singapore is expected to remain
tight in 2015, with low unemployment and rising vacancy rates. Against this
global and domestic backdrop, the growth outlook for the Singapore economy
remains modest. In tandem with the expected pick-up in external demand,
externally-oriented sectors such as manufacturing, wholesale trade and
finance & insurance are likely to provide support to growth. While some
domestically-oriented sectors such as businesses services are expected to
remain resilient, labour-intensive ones like construction, retail and food
services may see their growth weighed down by labour constraints. |
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OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
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No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.