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Report No. : |
323977 |
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Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
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Name : |
MAHADUSHI COMPONENTS PTE LTD |
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Registered Office : |
33, Ubi Avenue 3, 01-55, Vertex, 408868 |
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Country : |
Singapore |
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Date of Incorporation : |
29.09.2001 |
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Com. Reg. No.: |
200106425-W |
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Legal Form : |
Exempt Private |
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Line of Business : |
Trading of electronic components, metal scraps. |
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No. of Employee : |
3 [2015] |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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. Growth in 2014 was slower at 13.9%, 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. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
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 electronic components,
metal scraps. Share Capital
History
The major
shareholder(s) of the Subject are shown as follows :
+ Also Director
DIRECTOR 1
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1) |
Name of
Subject |
: |
PRABHAT KANT
GUPTA |
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Position |
: |
DIRECTOR |
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No Auditor found in our databank
|
1) |
Company
Secretary |
: |
AZURA BINTE
KOYAH |
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IC / PP No |
: |
S8504682I |
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Address |
: |
351A, CANBERRA
ROAD, 07-313, 751351, 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 |
: |
N/A |
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Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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Local |
: |
YES |
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Domestic
Markets |
: |
SINGAPORE |
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Overseas |
: |
YES |
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Export Market |
: |
WORLDWIDE |
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Credit Term |
: |
N/A |
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Payment Mode |
: |
CHEQUES |
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Goods Traded |
: |
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Total Number
of Employees: |
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YEAR |
2015 |
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GROUP |
N/A |
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COMPANY |
3 |
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Branch |
: |
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Other
Information:
The Subject is principally engaged in the (as a / as an) trading of
electronic components, metal scraps.
The Subject refused to disclose its operation.
Latest fresh investigations
carried out on the Subject indicated that :
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Telephone
Number Provided By Client |
: |
65 62972921 |
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Current
Telephone Number |
: |
65-62972921/67873815 |
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Match |
: |
YES |
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Address
Provided by Client |
: |
33 UBI AVENUE,
3 #01-55 VERTEX SINGAPORE 408868 |
|
Current
Address |
: |
33 UBI AVENUE,
3 #01-55 VERTEX, 408868, SINGAPORE. |
|
Match |
: |
YES |
|
|
||
Other
Investigations
On 22nd May 2015 we contacted one of the staff from the Subject and he
provided limited information.
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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 |
|
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 |
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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 |
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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 |
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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 |
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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 |
|
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 |
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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 |
|||||
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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) |
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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. |
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OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
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|
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No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.84 |
|
|
1 |
Rs.98.38 |
|
Euro |
1 |
Rs.69.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.