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Report No. : |
334272 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
DISPLAY INTERNATIONAL PTE. LTD. |
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Formerly Known As : |
3B INTERNATIONAL PTE. LTD. |
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Registered Office : |
9, Temasek Boulevard, 19-05, |
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Country : |
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Date of Incorporation : |
24.02.2006 |
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Com. Reg. No.: |
200602545-K |
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Legal Form : |
Exempt Private |
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Line of Business : |
General wholesale trade & freight forwarding, packing and crating
services |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) general wholesale trade &
freight forwarding, packing and crating services. Share Capital
History
The major
shareholder(s) of the Subject are shown as follows : Current Shareholder(s) :
+ Also Director DIRECTORSDIRECTOR 1
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1) |
Name of Subject |
: |
SHIN, JAE HOON |
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Position |
: |
DIRECTOR |
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Auditor |
: |
Y C TAN & CO |
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Auditor' Address |
: |
N/A |
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1) |
Company Secretary |
: |
KANG LYNA |
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IC / PP No |
: |
S2639576C |
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Address |
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851, YISHUN STREET, 81, 11-56, 760851, SINGAPORE. |
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No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
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SOURCES OF RAW MATERIALS: |
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Local |
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N/A |
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Overseas |
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N/A |
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The staff from the Subject's registered office refused to disclose any
information on the Subject's suppliers.
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Local |
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N/A |
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Overseas |
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N/A |
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The staff from the Subject's registered office refused to disclose any
information on the Subject's clientele.
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Goods Traded |
: |
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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) general wholesale
trade & freight forwarding, packing and crating services.
The staff from the Subject's registered office refused to disclose any
information on the Subject's operation.
Latest fresh
investigations carried out on the Subject indicated that :
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Telephone Number Provided By Client |
: |
N/A |
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Current Telephone Number |
: |
65-67292976 |
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Match |
: |
N/A |
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Address Provided by Client |
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9 TEMASEK BOULEVARD 19-05 SUNTEC TOWER 2,038989,SINGAPORE |
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Current Address |
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9, TEMASEK BOULEVARD, 19-05, SUNTEC TOWER 2, 038989, SINGAPORE. |
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Match |
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YES |
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Other
Investigations
On 28th July 2015 we contacted one of the staff from the Subject's registered
office and she only provided limited information.
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 : |
2009 |
2010 |
2011 |
2012 |
2013 |
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Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
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Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
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Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
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Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
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Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
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Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
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Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
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Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
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Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
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Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
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Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
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Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
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Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
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Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
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Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
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Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
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Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
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Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
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Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
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Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
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Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
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INDUSTRIES ( % of Growth ) : |
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Agriculture |
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Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
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Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
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Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
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Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
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Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
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Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
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Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
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Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
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Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
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Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
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Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
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Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
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Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
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Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
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Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
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Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
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Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
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Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
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Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
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Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
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Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
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Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
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Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
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Services |
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Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
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Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
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Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
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Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
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Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
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* Based on Index of Industrial Production (2011 = 100) |
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INDUSTRY : |
TRADING |
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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. |
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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. |
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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%. |
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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. |
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
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No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.99.71 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.