|
Report No. : |
338597 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BILCARE RESEARCH SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
52, Changi South Street 1, Bilcare Building, 486161 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
31.10.2014 |
|
|
|
|
Com. Reg. No.: |
201432583-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in research, design and manufacturing of plastic
packaging products for pharmaceuticals. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
|
Status : |
New Business |
|
|
|
|
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 |
In absence of financials, no credit limit could be recommended.
|
REGISTRATION
NO. |
: |
201432583-M |
|
COMPANY
NAME |
: |
BILCARE
RESEARCH SINGAPORE PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
31/10/2014 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
52,
CHANGI SOUTH STREET 1, BILCARE BUILDING, 486161, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
52,
CHANGI SOUTH STREET 1, BILCARE BUILDING, 486161, SINGAPORE. |
|
TEL.NO. |
: |
65-63954110 |
|
FAX.NO. |
: |
65-65424386 |
|
CONTACT
PERSON |
: |
KUHN
THORSTEN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
RESEARCH,
DESIGN AND MANUFACTURING OF PLASTIC PACKAGING PRODUCTS FOR PHARMACEUTICALS |
|
ISSUED
AND PAID UP CAPITAL |
: |
500,001.00
ORDINARY SHARE, OF A VALUE OF SGD 500,001.00 |
|
SALES |
: |
N/A |
|
NET
WORTH |
: |
N/A |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
WEAK |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
NOT
YET DETERMINED |
|
INDUSTRY
OUTLOOK |
: |
MATURE |
The
Subject is a private limited company and is allowed to have a minimum of one and
a maximum of forty-nine shareholders. As a private limited company, the Subject
must have at least two directors. 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, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the Subject is insolvent. The Subject is governed by the
Companies Act and the company must file its annual returns, together with its
financial statements with the Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) research, design and
manufacturing of plastic packaging products for pharmaceuticals.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
26/08/2015 |
SGD
500,001.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
BILCARE
RESEARCH AG |
GEWERBESTRASSE,
12, CH-4123, ALLSCHWIL, SWITZERLAND. |
T14UF4414 |
500,001.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,001.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR 1
|
Name
Of Subject |
: |
KUHN
THORSTEN |
|
Address |
: |
SCHULSTRASSE,
8, 56459, GUCKHEIM, GERMANY. |
|
IC
/ PP No |
: |
333712598 |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
31/10/2014 |
DIRECTOR 2
|
Name
Of Subject |
: |
GUTMANS
ALEXANDER |
|
Address |
: |
KILCHGRUNDSTRASSE,
24, CH, 4125, RIEHEN, SWITZERLAND. |
|
IC
/ PP No |
: |
F2002760 |
|
Nationality |
: |
SWISS |
|
Date
of Appointment |
: |
31/10/2014 |
DIRECTOR 3
|
Name
Of Subject |
: |
CHAN
HONG KAY |
|
Address |
: |
277A,
COMPASSVALE LINK, 15-314, 541277, SINGAPORE. |
|
IC
/ PP No |
: |
S0210826G |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
31/10/2014 |
DIRECTOR 4
|
Name
Of Subject |
: |
BOONRUANGTHAVORN
KIATTISAK |
|
Address |
: |
25/10,
TUNGKLOMTANMUN ROAD, NONGPRUE, BANGLAMUNG CHONBUR,I 20150, THAILAND. |
|
IC
/ PP No |
: |
T953247 |
|
Nationality |
: |
THAI |
|
Date
of Appointment |
: |
23/02/2015 |
|
1)
|
Name
of Subject |
: |
KUHN
THORSTEN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST
& YOUNG LLP |
|
Auditor'
Address |
: |
N/A |
|
1)
|
Company
Secretary |
: |
ONG
MING PEI |
|
IC
/ PP No |
: |
S7574936H |
|
|
Address |
: |
52,
CHOA CHU KANG NORTH 6, 06-17, YEW MEI GREEN, 689575, SINGAPORE. |
|
|
2)
|
Company
Secretary |
: |
WEE
CHIA TI |
|
IC
/ PP No |
: |
S8017613I |
|
|
Address |
: |
121,
TANJONG RHU ROAD, 03-09, TANJONG RIA CONDOMINIUM, 436914, SINGAPORE. |
No Banker found in our databank.
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201509418 |
21/08/2015 |
N/A |
DB
INTERNATIONAL TRUST (SINGAPORE) LIMITED |
EUR
113,000,000.00 |
Unsatisfied |
|
C201509482 |
24/08/2015 |
N/A |
DB
INTERNATIONAL TRUST (SINGAPORE) LIMITED |
EUR
113,000,000.00 |
Unsatisfied |
* 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.
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Products
manufactured |
: |
|
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) research, design and
manufacturing of plastic packaging products for pharmaceuticals.
The Subject refused to disclose its operation.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63954110 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
SINGAPORE
|
|
Current
Address |
: |
52,
CHANGI SOUTH STREET 1, BILCARE BUILDING, 486161, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other
Investigations
On 26th August 2015 we contacted one of the staff from the Subject and he
provided some information.
The address provided is incomplete.
The Subject refused to disclose its number of employees and bankers.
|
No
latest financial accounts are available at the Registry Office, thus we are
not able to comment on the Subject's financial performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
|
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
: |
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 |
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
UK Pound |
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.