|
Report No. : |
336217 |
|
Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESUN INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
17, Tractor Road, 627975 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
22.11.2007 |
|
|
|
|
Com. Reg. No.: |
200721691-H |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading Ferrous And Non-Ferrous Scrap Metals And Electronic/Electrical
Scrap Materials |
|
|
|
|
No. of Employee : |
120 [2015] |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
200721691-H |
||||
|
COMPANY NAME |
: |
ESUN INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
22/11/2007 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
17, TRACTOR ROAD, 627975, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
17 TRACTOR ROAD, 627975, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68660220 |
||||
|
FAX.NO. |
: |
65-68660202 |
||||
|
WEB SITE |
: |
WWW.ESUN.COM.SG |
||||
|
CONTACT PERSON |
: |
SEAH HOCK THIAM ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING FERROUS AND NON-FERROUS SCRAP
METALS AND ELECTRONIC/ELECTRICAL SCRAP MATERIALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
5,000,010.00 ORDINARY SHARE, OF A VALUE OF
SGD 5,000,010.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
120 [2015] |
||||
|
||||||
|
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 |
||||
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) trading ferrous and
non-ferrous scrap metals and electronic/electrical scrap materials.
Share
Capital History
|
Date |
Issue & Paid Up Capital |
|
13/08/2015 |
SGD 5,000,010.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SEAH HOCK THIAM + |
11, JALAN SENANDONG, SWISS CLUB PARK,
288762, SINGAPORE. |
S1764330D |
1,325,010.00 |
26.50 |
|
LEE POH CHOO + |
11 JALAN SENANDONG, SWISS CLUB PARK,
288762, SINGAPORE. |
S6831418F |
1,225,000.00 |
24.50 |
|
ANG YEW LAI + |
35, DAIRY FARM ROAD, 08-01, DAIRY FARM
ESTATE, PHASE 3, 679052, SINGAPORE. |
S1720356H |
1,225,000.00 |
24.50 |
|
LEE ENG NGEE |
468 JURONG WEST STREET 41, 10-465, 640468,
SINGAPORE. |
S1561751I |
1,225,000.00 |
24.50 |
|
--------------- |
------ |
|||
|
5,000,010.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local No |
Country |
Company |
(%) |
As At |
|
200005624R |
SINGAPORE |
ESUN LOGISTICS PTE. LTD. |
100.00 |
13/08/2015 |
|
201105956H |
SINGAPORE |
HIMETAL ENTERPRISE PTE. LTD. |
100.00 |
13/08/2015 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
LEE POH CHOO |
|
Address |
: |
11 JALAN SENANDONG, SWISS CLUB PARK,
288762, SINGAPORE. |
|
IC / PP No |
: |
S6831418F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/11/2009 |
DIRECTOR
2
|
Name Of Subject |
: |
ANG YEW LAI |
|
Address |
: |
35, DAIRY FARM ROAD, 08-01, DAIRY FARM
ESTATE, PHASE 3, 679052, SINGAPORE. |
|
IC / PP No |
: |
S1720356H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
27/09/2011 |
DIRECTOR
3
|
Name Of Subject |
: |
SEAH HOCK THIAM |
|
Address |
: |
11, JALAN SENANDONG, SWISS CLUB PARK,
288762, SINGAPORE. |
|
IC / PP No |
: |
S1764330D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
05/09/2008 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SEAH HOCK THIAM |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
ONE PARTNERSHIP PAC |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
CHIAM KIA SOON |
|
IC / PP No |
: |
S1145200J |
|
|
Address |
: |
169, JALAN JURONG KECHIL, 06-11, SHERWOOD
CONDOMINIUM, 598669, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
EDMUND TANG KOON KAY |
|
IC / PP No |
: |
S2667761J |
|
|
Address |
: |
125, ARTHUR ROAD, 10-02, 439829, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200903938 |
02/07/2009 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
C201003744 |
06/05/2010 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
C201501801 |
06/02/2015 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201501803 |
06/02/2015 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201501806 |
06/02/2015 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
LITIGATION
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 |
: |
652 |
||||||||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
07/01/2011 |
|||||||||||
|
Plaintiff |
: |
LEE THIAM HOCK |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
0 |
|||||||||||
|
Remark |
: |
NEGLIGENCE |
|||||||||||
|
No winding up petition was found in our
databank |
||
|
|
||
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
FERROUS AND NON-FERROUS SCRAP METALS AND ELECTRONIC/ELECTRICAL
SCRAP MATERIALS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2012 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
120 |
52 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading ferrous and
non-ferrous scrap metals and electronic/electrical scrap materials.
The Subject has been engaging in the buying and selling of ferrous and
non-ferrous scrap metals and electronic/electrical scrap materials for many
years.
The Subject's capability and financial strength have also enabled it to tender
for any scraps from various government authorities and government related
companies in Singapore with no financial limit.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568660220 |
|
Current Telephone Number |
: |
65-68660220 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
17 TRACTOR ROAD,627975,SINGAPORE |
|
Current Address |
: |
17 TRACTOR ROAD, 627975, SINGAPORE. |
|
Match |
: |
YES |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
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 : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
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 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
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 |
|
|
|||||
|
* Based on Index of Industrial Production
(2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have
expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent
growth in the previous quarter. In 2013, the wholesale and retail sector
expanded by 5.0%, after declining by 1.4% the year before. Growth of the
sector was driven by the wholesale trade segment. |
|
|
The domestic wholesale trade index has
increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6%
growth in the previous quarter. The slower growth was due to a decline in the
sales of furniture and household equipment (-12%) and petroleum and petroleum
products (-0.6%). For the full year, the domestic wholesale trade index grew
by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign
wholesale trade index has increased by a slower pace of 5.6% in the fourth
quarter, compared to the 7.7% expansion in the preceding quarter. The
slowdown was due to a fall in the sales of telecommunication equipment and
computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full
year, the growth of the foreign wholesale trade index moderated slightly to
8.6% from 9.1% in the previous year. |
|
|
In the fourth quarter of 2013, retail sales
volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding
motor vehicles, retail sales volume increased by 0.4%, a slower pace of
expansion as compared to the 1.6% gain in the preceding quarter. The sales
volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending
the 32% decline in the previous quarter. Meanwhile, the sales of several
discretionary items also fell in the fourth quarter of 2013. For instance,
the sales of telecommunications apparatus and computers fell by 12%, while
the sales of furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume
contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding
motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower
than the 1.7% increase in 2012. Watches and jewellery recorded the largest
increase (11%) in sales in 2013, followed by optical goods and book (3%) and
medical goods and toiletries (3%). By contrast, the sales of
telecommunications apparatus and computer (-7.3%), furniture and household
equipment (-4.2%) and petrol service stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE
GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.