|
Report No. : |
343994 |
|
Report Date : |
07.10.2015 |
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 Employees : |
Not Available |
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 |
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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
|
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 |
|
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 |
: |
27/05/2016 |
|
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 |
: |
LINA
( STAFF ) |
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
AND PROCESSING OF PETROCHEMICALS |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
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 :
Current Shareholder(s) :
|
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 |
: |
LINA |
|
Position |
: |
STAFF |
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 its clientele.
OPERATIONS
|
|
Products
manufactured |
: |
|
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2013 |
||||||||
|
|
|||||||||
|
GROUP |
2500 |
||||||||
|
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,
HARBOURFRONT PLACE, 06-00, HARBOURFRONT TOWER ONE,098633,SINGAPORE |
|
Current
Address |
: |
1,
HARBOURFRONT PLACE, 06-00, HARBOURFRONT TOWER ONE, 098633, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
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 and bankers.
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 : |
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
: |
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
|
|
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.