MIRA INFORM REPORT

 

 

Report No. :

355862

Report Date :

23.12.2015

 

IDENTIFICATION DETAILS

 

Name :

INAANI PTE. LTD.

 

 

Registered Office :

133, New Bridge Road, 17-01, Chinatown Point, 059413

 

 

Country :

Singapore

 

 

Date of Incorporation :

27.06.2006

 

 

Com. Reg. No.:

200609354-W

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Trading of telecommunication products.

 

 

No. of Employee :               

4 [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

 

Company name

 

INAANI PTE. LTD.

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200609354-W

COMPANY NAME

:

INAANI PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

27/06/2006

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

133, NEW BRIDGE ROAD, 17-01, CHINATOWN POINT, 059413, SINGAPORE.

BUSINESS ADDRESS

:

133, NEW BRIDGE ROAD, 17-01, CHINATOWN POINT, 059413, SINGAPORE.

TEL.NO.

:

65-63232363

FAX.NO.

:

65-63232368

CONTACT PERSON

:

MD. REZAUL HASSAN ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF TELECOMMUNICATION PRODUCTS

ISSUED AND PAID UP CAPITAL

:

68,000.00 ORDINARY SHARE, OF A VALUE OF USD 68,000.00 

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

4 [2015]

BANKER (S)

:

DBS BANK LTD

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

UNKNOWN

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

PROPOSED CREDIT LIMIT

:

SGD 17,200 (USD 12,000)

 

 

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 telecommunication products.

 

Share Capital History

Date

Issue & Paid Up Capital

21/12/2015

USD 68,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. MD. REZAUL HASSAN +

52, BUKIT BATOK EAST AVENUE 5, 21-07, REGENT HEIGHTS CONDOMINIUM, 659802, SINGAPORE.

G5989613Q

54,400.00

80.00

MONNUJAN NARGIS +

52, BUKIT BATOK EAST AVENUE 5, 21-07, REGENT HEIGHTS CONDOMINIUM, 659802, SINGAPORE.

G6003478N

6,800.00

10.00

AJMAT IQBAL

69, SAMSUR RAHMAN ROAD, KHULNA 9100 ,BANGLADESH

AE8674944

6,800.00

10.00

---------------

------

68,000.00

100.00

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No

Country

Company

Status

(%)

As At

SINGAPORE

AJURA PTE. LTD.

-

100.00

21/12/2015

 

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MONNUJAN NARGIS

Address

:

52, BUKIT BATOK EAST AVENUE 5, 21-07, REGENT HEIGHTS CONDOMINIUM, 659802, SINGAPORE.

IC / PP No

:

G6003478N

Nationality

:

BANGLADESHI

Date of Appointment

:

27/06/2006

 

DIRECTOR 2

 

Name Of Subject

:

MR. MD. REZAUL HASSAN

Address

:

52, BUKIT BATOK EAST AVENUE 5, 21-07, REGENT HEIGHTS CONDOMINIUM, 659802, SINGAPORE.

IC / PP No

:

G5989613Q

Nationality

:

BANGLADESHI

Date of Appointment

:

27/06/2006



MANAGEMENT

 

 

 

1)

Name of Subject

:

MD. REZAUL HASSAN

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

FAIRFIELD ASSOCIATES

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHEUNG CHUAN WOO

IC / PP No

:

S1259570J

Address

:

602, YISHUN STREET 61, 07-369, 760602, SINGAPORE.

BANKING


Banking relations are maintained principally with :

1)

Name

:

DBS BANK LTD

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C200907420

16/11/2009

N/A

DBS BANK LTD.

-

Unsatisfied

C201012548

24/12/2010

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 is a service provider. 

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

OPERATIONS

 

Services

:

TELECOMMUNICATION SERVICES

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

N/A

COMPANY

4

2

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of telecommunication products. 


Inaani is a retail and wholesale VoIP service provider with global presence. Headquartered in Singapore, Inaani reaches customers living in different parts of the world. 


The Subject offers quality VoIP termination services at amazing prices which helps customers around the world make cheaper long distance phone calls using internet as the medium. Being a VoIP termination provider, 

The Subject promises best network quality as it has collaborated with renowned carriers like Bharti in India, SingTel in Singapore and many other reputed international carriers. 



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-63232363

Match

:

N/A

Address Provided by Client

:

133, NEW BRIDGE ROAD, 17-01, CHINATOWN POINT,059413,SINGAPORE

Current Address

:

133, NEW BRIDGE ROAD, 17-01, CHINATOWN POINT, 059413, 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


We contacted one of the staff from the registered office and she only provided limited 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 :

TELECOMMUNICATION

Singapore's telecommunications industry has outperformed many of its regional peers with strong adoption of the latest products and services. Partially due to the country's small landmass and population size, the telecoms market has rapidly grown to a stage where it is approaching saturation. Next generation technologies, both mobile and fixed, are therefore the next step in fostering new developments and revenue streams, and industry players - the regulator and operators - have rightly moved in that direction.

BMI forecasted Singapore's mobile sector will grow by only 1.2% annually between 2013 and 2018 owing to the high penetration and a shift in operators' strategies. The fixed-line market has started to contract earlier than they had expected, and they forecasted the number of subscribers to decline to 1.7mn in 2018. Next generation fibre and LTE services are the future growth drivers for the Singaporean broadband industry, although they expect the growth momentum to be relative slow initially due to factors such as contract lock-in period. They forecasted 11.7mn broadband subscribers in the country by end-2018.

The number of broadband subscribers has increased by 4.5% in 2013, slower than the 11% surge in the previous year. With the continued rise in the number of subscribers, the broadband subscription rate ticked up from 1.9 per capita in 2012 to 2.0 per capita in 2013. Similarly, the international telephone call duration rose by 7.8% in 2013, moderating from the 8.9% increase in the previous year. In particular, call duration in the first half of the year increased by 1.6%, much slower than the 14% increase over the same period in 2012.

By contrast, the number of mobile subscribers grew by 4.4% in 2013, extending the 4.0% growth in 2012. As a result of the increase in subscribers, the mobile subscription rate reached 1.6 per capita in 2013, slightly higher than the 1.5 per capita in 2012.

OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2006, the Subject is an Exempt Private company, focusing on trading of telecommunication products. 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 an issued and paid up capital of USD 68,000 contributed by individual shareholders, the Subject may face difficulties in its attempt to further expand its business in the future. Thus, the Subject should put more efforts on its business to gain higher market share while competing aggressively in the market. 


Investigation revealed, 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 4 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 industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 


In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 



FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office. 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.30

UK Pound

1

Rs.98.71

Euro

1

Rs.72.33

SGD

1

Rs. 47.00

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.