|
Report No. : |
341481 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MRF SG PTE. LTD. |
|
|
|
|
Registered Office : |
11, Collyer Quay, 10-15, The Arcade, 049317 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
23.07.2014 |
|
|
|
|
Com. Reg. No.: |
201421655-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is
engaged in the trading of automotive tyres. |
|
|
|
|
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.
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. |
: |
201421655-R |
|
COMPANY NAME |
: |
MRF SG PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
23/07/2014 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
11, COLLYER
QUAY, 10-15, THE ARCADE, 049317, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
11, COLLYER
QUAY, 10-15, THE ARCADE, 049317, SINGAPORE. |
|
TEL.NO. |
: |
65-62257524 |
|
FAX.NO. |
: |
65-62257504 |
|
CONTACT PERSON |
: |
KOYIKAL THOMAS
EASOW @ KOIKAL ROBIN THOMAS ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF
AUTOMOTIVE TYRES |
|
ISSUED AND PAID
UP CAPITAL |
: |
1,273,200.00 ORDINARY
SHARE, OF A VALUE OF SGD 1,273,200.00 |
|
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 |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
GENERAL
REPUTATION |
: |
NOT YET
DETERMINED |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) trading of automotive tyres.
Share
Capital History
|
Date |
Issue & Paid
Up Capital |
|
03/08/2015 |
SGD 1,273,200.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MRF LIMITED |
NEW 114, (OLD
NO. 124), GREAMS ROAD, CHENNAI-600006, INDIA. |
T14UF2972 |
1,273,200.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,273,200.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name Of Subject |
: |
KOYIKAL THOMAS
EASOW @ KOIKAL ROBIN THOMAS |
|
Address |
: |
18, TAMAN
SERASI, 06-20, BOTANIC GARDEN MANSIONS, 257722, SINGAPORE. |
|
IC / PP No |
: |
S1177897F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
23/07/2014 |
DIRECTOR
2
|
Name Of Subject |
: |
ARUN MAMMEN |
|
Address |
: |
11, BOAT CLUB
ROAD, 3RD AVENUE, R.A.PURAM, CHENNAI, PIN:600028, TAMIL NADU, INDIA. |
|
IC / PP No |
: |
Z2398509 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
23/07/2014 |
DIRECTOR
3
|
Name Of Subject |
: |
RAHUL MAMMEN
MAPPILLAI |
|
Address |
: |
12, BOAT CLUB ROAD,
3RD AVENUE, RAJAANNAMALAI PURAM, CHENNAI, PIN:600028, TAMIL NADU, INDIA. |
|
IC / PP No |
: |
Z2750570 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
23/07/2014 |
DIRECTOR
4
|
Name Of Subject |
: |
KANDATHIL MAMMEN
MAMMEN |
|
Address |
: |
DEERHURST, 17,
BOAT CLUB ROAD, 3RD AVENUE, RAJA ANNAMALAI PURAM, CHENNAI, PIN: 600028, TAMIL
NADU, INDIA, INDIA. |
|
IC / PP No |
: |
Z2772156 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
23/07/2014 |
|
1) |
Name of Subject |
: |
KOYIKAL THOMAS
EASOW @ KOIKAL ROBIN THOMAS |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
K.C.CHAN &
CO PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
MS. SERLINA NG
MUI CHENG |
|
IC / PP No |
: |
S7922641F |
|
|
New IC No |
: |
591101-12-5716 |
|
|
Address |
: |
P.O.BOX NO. 11764,
88819 KOTA KINABALU, LOT 163, TAMAN MESRA PHASE 2, JALAN BUNGA KUASIA 2,
PENAMPANG, 88200 PUTATAN, SABAH, MALAYSIA. |
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.
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Goods Traded |
: |
AUTOMOTIVE TYRES |
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of automotive
tyres.
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 |
: |
65-62257524 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
11, COLLYER
QUAY, 10-15, THE ARCADE,049317,SINGAPORE |
|
Current Address |
: |
11, COLLYER
QUAY, 10-15, THE ARCADE, 049317, SINGAPORE. |
|
Match |
: |
YES |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and he only provided limited
information.
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 |
||||||
|
|
||||||
|
|
||||||
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 : |
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 |
|
|
Incorporated in 2014, the Subject is a Private Limited
company, focusing on trading of automotive tyres. The Subject was newly
established and it has yet to build up a stable clientele base in the market.
It is likely to incur start-up costs during the initial years of its
operations. Presently, the issued and paid up capital of the Subject stands
at SGD 1,273,200. The Subject have a strong support from its
shareholder.
|
|
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.