|
Report No. : |
337830 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
AAKASH INTERNATIONAL PTE LTD |
|
|
|
|
Registered Office : |
1, North Bridge Road, 14-10, High Street Centre, 179094 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
06.12.1988 |
|
|
|
|
Com. Reg. No.: |
198804444-E |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is engaged in trading of consumer electrical and electronic
products.s |
|
|
|
|
No. of Employee : |
5 [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 |
|
Maximum Credit Limit : |
SGD 396,000 (USD 283,000) |
|
|
|
|
|
|
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. |
: |
198804444-E |
||||
|
COMPANY NAME |
: |
AAKASH
INTERNATIONAL PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
06/12/1988 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
1, NORTH BRIDGE
ROAD, 14-10, HIGH STREET CENTRE, 179094, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1, NOTTH BRIDGE ROAD,
14-10, HIGH STREET CENTER, 179094, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63365622 |
||||
|
FAX.NO. |
: |
65-63395216 |
||||
|
WEB SITE |
: |
WWW.AAKASH.COM.SG |
||||
|
CONTACT PERSON |
: |
DADLANI CHANDRU
GOBINDRAM ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF
CONSUMER ELECTRICAL AND ELECTRONIC PRODUCTS |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
1,500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 1,500,000.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
5 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
PROPOSED CREDIT LIMIT |
: |
SGD 396,000 (USD 283,000) |
||||
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 of
consumer electrical and electronic products.
Share Capital History
|
Date |
Issue &
Paid Up Capital |
|
24/08/2015 |
SGD 1,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DADLANI CHANDRU
GOBINDRAM + |
66, MARINE PARADE
ROAD, 22-13, COTE D'AZUR, 449300, SINGAPORE. |
S2621903E |
1,499,998.00 |
100.00 |
|
DADLANI CHANDRU
NEE GANGLANI MEENA JHAMANDAS + |
66, MARINE PARADE
ROAD, 22-13, COTE D'AZUR, 449300, SINGAPORE. |
S2177380H |
2.00 |
0.00 |
|
--------------- |
------ |
|||
|
1,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
DADLANI CHANDRU NEE
GANGLANI MEENA JHAMANDAS |
|
Address |
: |
66, MARINE PARADE
ROAD, 22-13, COTE D'AZUR, 449300, SINGAPORE. |
|
IC / PP No |
: |
S2177380H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
08/03/1989 |
DIRECTOR 2
|
Name Of Subject |
: |
DADLANI CHANDRU
GOBINDRAM |
|
Address |
: |
66, MARINE PARADE
ROAD, 22-13, COTE D'AZUR, 449300, SINGAPORE. |
|
IC / PP No |
: |
S2621903E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/12/1988 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DADLANI CHANDRU
GOBINDRAM |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
NATARAJAN &
SWAMINATHAN |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
DADLANI CHANDRU
NEE GANGLANI MEENA JHAMANDAS |
|
IC / PP No |
: |
S2177380H |
|
|
Address |
: |
66, MARINE PARADE
ROAD, 22-13, COTE D'AZUR, 449300, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS
BANK LIMITED |
|
2) |
Name |
: |
DBS BANK LTD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
199805738 |
16/11/1998 |
N/A |
UNITED OVERSEAS
BANK LIMITED |
- |
Unsatisfied |
|
C200400577 |
03/02/2004 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C200400606 |
04/02/2004 |
N/A |
DBS BANK LTD |
SGD 50,000.00 |
Unsatisfied |
|
C201211591 |
09/10/2012 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
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.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers information.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CONSUMER
ELECTRICAL AND ELECTRONIC PRODUCTS |
|
|
Total Number of
Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
5 |
4 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of consumer
electrical and electronic products.
The Subject specializes in DSLR and Compact Cameras in Canon, Nikon, Sony,
Fuji, Panasonic and Samsung. Also, Apple products like Ipads, Iphones,
Macbooks, Ipods, Nano and Apple Accessories are the SC's major products.
The Subject sells major Japanese electronic Brands such as CANON, FUJI, NIKON,
OLYMPUS, PANASONIC, SAMSUNG, SONY. It also carries major Europe home appliances
Brands such as BRAUN, TEFAL, PHILIPS and BOSCH.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
6563365622 |
|
Current Telephone
Number |
: |
65-63365622 |
|
Match |
: |
YES |
|
Address Provided
by Client |
: |
1 NORTH BRIDGE ROAD,
HIGH STRET CENTRE SINGAPORE 179094 |
|
Current Address |
: |
1, NOTTH BRIDGE
ROAD, 14-10, HIGH STREET CENTER, 179094, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information on the Subject.
The address provided is incomplete.
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
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.