MIRA INFORM REPORT

 

 

Report No. :

305651

Report Date :

31.01.2015

 

IDENTIFICATION DETAILS

 

Name :

EXXONMOBIL CHEMICAL ASIA PACIFIC

 

 

Formerly Known As :

EXXON CHEMICAL ASIA PACIFIC

 

 

Registered Office :

1, Harbourfront Place, 07-00, 098633

 

 

Country :

Singapore

 

 

Date of Incorporation :

27.05.1999

 

 

Com. Reg. No.:

52893724-C

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacturing and Processing of Petrochemicals.

 

 

No. of Employee :

Not Available [2015]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

EXECUTIVE SUMMARY



REGISTRATION NO.

:

52893724-C

COMPANY NAME

:

EXXONMOBIL CHEMICAL ASIA PACIFIC

FORMER NAME

:

EXXON CHEMICAL ASIA PACIFIC (14/03/2000)

COMMENCEMENT DATE

:

27/05/1999

REGISTRATION DATE

:

27/05/1999

EXPIRY DATE

:

27/05/2015

BUSINESS CONSTITUTION

:

SOLE PROPRIETORSHIP

REGISTERED ADDRESS

:

1, HARBOURFRONT PLACE, 07-00, 098633, SINGAPORE.

BUSINESS ADDRESS

:

1 HARBOURFRONT PLACE, 06-00, HARBOURFRONT TOWER ONE, 098633, SINGAPORE.

TEL.NO.

:

65-68858000

FAX.NO.

:

65-68858949

WEB SITE

:

WWW.EXXONMOBIL.COM.SG

CONTACT PERSON

:

KRISHNAN ( STAFF )

PRINCIPAL ACTIVITY

:

MANUFACTURING AND PROCESSING OF PETROCHEMICALS

STAFF STRENGTH

:

n/a [2015]

LITIGATION

:

CLEAR

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

GOOD

INDUSTRY OUTLOOK

:

MATURE

 

 

HISTORY / BACKGROUND

 

The Subject commenced its business on 27/05/1999 as a SOLE PROPRIETORSHIP.

 

The Subject is a sole proprietorship, that is, it has a single owner whose liabilities are unlimited. In case the Subject is unable to meet all its obligations, the creditors can claim on the owner's personal assets. The sole proprietorship ceases upon the death of the owner or any time at the discretion of the owner. The ownership is non-transferable. Under the law, the Subject has to file in its information with Registrar of Business but it is not required to file in its financial statements.

 

The Subject is principally engaged in the (as a / as an) manufacturing and processing of petrochemicals.

 

The owner of the Subject are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

EXXONMOBIL ASIA PACIFIC PTE. LTD.

1, HARBOURFRONT PLACE, 07-00, HARBOURFRONT TOWER ONE , 098633, SINGAPORE.

196800312

100.00

100.00

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

------

100.00

100.00

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

=====

+ Also Director

 

 

OWNERS

 

OWNER(S) 1

 

Name Of Subject

:

EXXONMOBIL ASIA PACIFIC PTE. LTD.

Address

:

1, HARBOURFRONT PLACE, 07-00, HARBOURFRONT TOWER ONE, 098633, SINGAPORE.

IC / PP No

:

196800312

Date of Appointment

:

01/01/2001

Shareholding

:

100%

 

 

MANAGEMENT

 

 

1)

Name of Subject

:

KRISHNAN

Position

:

STAFF

 

2)

Name of Subject

:

ROBERT ERIC HARAYDA

Position

:

MANAGER

 

 

 

AUDITOR

 

No Auditor found in our databank 



BANKING


No Banker found in our databank. 

 

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.

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject refused to disclose its suppliers. 

 

 

CLIENTELE

 

Local

:

N/A

Overseas

:

N/A

Credit Term

:

N/A

Payment Mode

:

N/A


The Subject refused to disclose it's clientele. 

 

 

OPERATIONS

 

Products manufactured

:

PETROCHEMICALS

 

Total Number of Employees:

YEAR

2015

2013

2500

COMPANY

n/a

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) manufacturing and processing of petrochemicals. 

The Subject is under the ExxonMobil Group, the largest publicly international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources; is the largest refiner and marketer of petroleum products; and its chemical company is one of the largest in the world.

The Singapore Chemical Plant (SCP) is ExxonMobil Chemical’s largest integrated petrochemical complex in the world. The plant employs state-of-the-art chemical processing technology for high performance manufacturing in today’s competitive global chemicals market. It is fully integrated with the refinery, which also provides feedstock to the steam crackers. 

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-68858000

Match

:

N/A

Address Provided by Client

:

1 HARBOUR FRONT PLACE #06-00 HARBOUR FRONT TOWER ONE SINGAPORE 098633

Current Address

:

1 HARBOURFRONT PLACE, 06-00, HARBOURFRONT TOWER ONE, 098633, SINGAPORE.

Match

:

YES

 

Other Investigations


On 29th January 2015 we contacted one of the staff from the Subject and she only provided limited information on the Subject.

She refused to disclose the Subject's number of employees.

 

FINANCIAL ANALYSIS

 

 

We are unable to comment on the Subject financial position as the Subject is not required by the law to file its financial statement in the Registrar of Business.

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 ANALYSIS

 

INDUSTRY :

MANUFACTURING

In the third quarter of 2014, manufacturing output has increased by 1.9%, extending the 1.5% growth in the previous quarter. Growth was largely driven by the biomedical manufacturing and chemicals clusters. Besides, for the whole 2013, the manufacturing sector grew by 1.7%, an uptick from the 0.3% growth recorded in the previous year. All clusters recorded an expansion in 2013, except the biomedical manufacturing cluster.

The chemicals cluster grew by 5.2% in the third quarter of 2014. Growth was led by the petrochemicals and specialty chemicals segments, which expanded by 8.9% and 7.1% respectively. By contrast, the petroleum segment contracted by 4.2% in the third quarter of 2014 due to plant maintenance shutdowns. For the year of 2013, the chemicals cluster grew only by 0.7%.

Besides, output of the biomedical manufacturing cluster expanded by 9.0% in the third quarter of 2014. The medical technology segment posted robust growth of 23% due to higher production of medical instruments and supplies, while the output of the pharmaceuticals segment rose by 6.2%. However, in the whole of 2013, the biomedical manufacturing cluster recorded only a flat growth.

In the third quarter of 2014, the transport engineering cluster contracted by 2.0%, dragged down by the aerospace segment. Output in the aerospace segment plunged by 18% on the back of fewer repair jobs from commercial airlines. This was mitigated by the 4.1% growth in the marine & offshore engineering segment, which was supported by higher contributions from rig building projects. Nonetheless, for the whole of 2013, the transport engineering cluster grew by 5.2%.

Moreover, output of the precision engineering cluster increased by 1.3% in the third quarter of 2014. The machinery & systems segment grew by 6.2%, supported by higher demand for semiconductor-related equipment and mechanical engineering work. This was partly offset by the decline in the output of the precision modules & components segment. Conversely, in the full year of 2013, the precision engineering cluster's output declined by 5.6%.

Furthermore, in the third quarter of 2014, output of the general manufacturing industries declined by 3.0%. The 2.1% growth in the food, beverages & tobacco segment was more than offset by declines in the other two segments. In particular, the miscellaneous industries segment contracted by 4.7% on the back of lower output in construction-related products, such as concrete & cement products and steel structural components. For the full year of 2013, the general manufacturing cluster grew by 2.8%.

Besides, in the third quarter of 2014, the electronics cluster expanded by 0.9%, reversing the 5.0% contraction in the previous quarter. Growth was supported by an expansion in the computer peripherals (6.3%) and data storage (2.6%) segments. Moreover, for the year 2013, the electronics cluster expanded by 3.5%.

OVERALL INDUSTRY OUTLOOK : MATURE

 

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 


Incorporated in 1999, the Subject is a Sole Proprietorship company, focusing on manufacturing and processing of petrochemicals. With its long establishment in the market, the Subject has received strong support from its stable customers base. Its business position in the market is quite stable and it is expected to enjoy better market shares over its rivals. 

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 a sole-proprietorship, its financial statement are not available for analysis. As such, we are unable to ascertain the Subject's financial health. The Subject's ability to meet its obligations is very much dependent on the owner's financial strength. 

The industry has reached its optimum level and is generally stable. It is saturated and very competitive. Thus, the Subject's growth prospect is very much depends on its capacity in sustaining its performance 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.61.76

UK Pound

1

Rs.93.13

Euro

1

Rs.70.03

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

 

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