|
Report No. : |
346107 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIBUYA SAKURA
INDUSTRIES (S) PTE LTD |
|
|
|
|
Registered Office : |
3, Shenton Way, 15-10, Shenton House, 068805 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
03.10.1997 |
|
|
|
|
Com. Reg. No.: |
199706908-E |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Metal Scraps, Timber. |
|
|
|
|
No. of Employees : |
10 [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 |
|
REGISTRATION
NO. |
: |
199706908-E |
||||
|
COMPANY
NAME |
: |
SHIBUYA
SAKURA INDUSTRIES (S) PTE LTD |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
03/10/1997 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED
ADDRESS |
: |
3,
SHENTON WAY, 15-10, SHENTON HOUSE, 068805, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
3,
SHENTON WAY, 15-10, SHENTON HOUSE, 068805, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64591622 |
||||
|
FAX.NO. |
: |
65-64584005 |
||||
|
CONTACT
PERSON |
: |
PARIKH
SAUMIL KISHORE KUMAR ( DIRECTOR ) |
||||
|
|
|
|
||||
|
|
|
|
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF METAL SCRAPS, TIMBER |
||||
|
|
|
|
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,048,550.00
ORDINARY SHARE, OF A VALUE OF SGD 2,048,550.00 |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
|
|
|
||||
|
STAFF
STRENGTH |
: |
10
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
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 metal scraps,
timber.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
09/10/2015 |
SGD 2,048,550.00
|
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
PARIKH SAUMIL KISHORE KUMAR + |
48A,
LORONG J TELOK KURAU, 425838, SINGAPORE. |
S7913209H |
1,892,899.00 |
92.40 |
|
BRIAN
AUGUSTUS SEURATTAN |
7,
CITRUS DRIVE, ENTERPRISE CHAGUANAS, 502216, TRINIDAD, WEST INDIES, TRINIDAD
AND TOBAGO. |
TA773980 |
153,650.00 |
7.50 |
|
N
ANANDARAJA S/O NADARAJAH + |
15, TELOK
BLANGAH CRESCENT, 03-234, 090015, SINGAPORE. |
S1794580G |
1,000.00 |
0.05 |
|
GARY
DONALD SEATON + |
2,
NERRIMAR STREET, SHAILER PARK, BRISBANE, QLD 4128, AUSTRALIA. |
E1022155 |
1.00 |
0.00 |
|
CHANDRA
MALAR D/O KAILAYER VISWANATH KAILAYER |
50C, LORONG
J TELOK KURAU, PROSPECT GARDEN, 425844, SINGAPORE. |
S0129734A |
1,000.00 |
0.05 |
|
|
|
|
--------------- |
------ |
|
|
|
|
2,048,550.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also
Director
DIRECTORS |
DIRECTOR
1
|
Name
Of Subject |
: |
GARY
DONALD SEATON |
|
Address |
: |
2,
NERRIMAR STREET, SHAILER PARK, BRISBANE, QLD 4128, AUSTRALIA. |
|
IC /
PP No |
: |
E1022155 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AUSTRALIAN |
|
Date
of Appointment |
: |
14/06/2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name
Of Subject |
: |
N
ANANDARAJA S/O NADARAJAH |
|
Address |
: |
15,
TELOK BLANGAH CRESCENT, 03-234, 090015, SINGAPORE. |
|
IC /
PP No |
: |
S1794580G |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
21/09/1999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
PARIKH SAUMIL KISHORE KUMAR |
|
Address |
: |
48A,
LORONG J TELOK KURAU, 425838, SINGAPORE. |
|
IC /
PP No |
: |
S7913209H |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
19/10/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name
of Subject |
: |
PARIKH
SAUMIL KISHORE KUMAR |
|
|
Position |
: |
DIRECTOR |
AUDITOR |
|
Auditor |
: |
S C
MOHAN PAC |
|
Auditor'
Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES |
No company secretary was found in our databank.
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
INDIAN
BANK |
|
|
|
|
|
ENCUMBRANCE (S) |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C200306100 |
17/12/2003 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C200405012 |
08/10/2004 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C200705090 |
03/07/2007 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201003697 |
05/05/2010 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201102985 |
10/03/2011 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201205760 |
25/05/2012 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201312954 |
23/09/2013 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201414609 |
22/12/2014 |
N/A |
MALAYAN
BANKING BERHAD |
- |
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 refused to disclose its suppliers.
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment
Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS |
|
Goods
Traded |
: |
METAL
SCRAPS, TIMBER
|
|
|
|
|
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
10 |
10 |
10 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of metal
scraps, timber.
The Subject refused to disclose any information on its operation.
CURRENT INVESTIGATION |
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
64591622 |
|
Current
Telephone Number |
: |
65-64591622 |
|
Match |
: |
YES |
|
|
|
|
|
Address
Provided by Client |
: |
3,
SHENTON WAY, #15-10 SHENTON HOUSE, SINGAPORE 068805 |
|
Current
Address |
: |
3,
SHENTON WAY, 15-10, SHENTON HOUSE, 068805, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
|
|
||
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information on the Subject.
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
: |
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. |
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
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.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.