|
Report No. : |
342297 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HITZINGER PTE. LTD. |
|
|
|
|
Registered Office : |
4, Battery Road, 25-01, Bank Of China Building, 049908 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
29.10.2013 |
|
|
|
|
Com. Reg. No.: |
201329166-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
The
Subject is engaged in trading of frequency converters. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
-- |
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. |
: |
201329166-N |
|
COMPANY
NAME |
: |
HITZINGER
PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
29/10/2013 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
4,
BATTERY ROAD, 25-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
3,
LOYANG WAY 4, 506956, SINGAPORE. |
|
TEL.NO. |
: |
65-65429618/31100043 |
|
FAX.NO. |
: |
65-65427595 |
|
CONTACT
PERSON |
: |
KNUT
UNGER ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF FREQUENCY CONVERTERS |
|
ISSUED
AND PAID UP CAPITAL |
: |
130,000.00
ORDINARY SHARE, OF A VALUE OF SGD 130,000.00 |
|
SALES |
: |
N/A |
|
NET
WORTH |
: |
EUR
(27,484) [2014] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
WEAK |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
POOR |
|
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 frequency
converters.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
22/09/2015 |
SGD
130,000.00 |
The
major shareholder(s) of the Subject are shown as follows:
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
HITZINGER
GMBH |
HELMHOLTZSTR.
56, 4020, LINZ, AUSTRIA. |
T14UF0269 |
130,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
130,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR 1
|
Name
Of Subject |
: |
KNUT
UNGER |
|
Address |
: |
98A,
LORONG H, TELOK KURAU, 426152, SINGAPORE. |
|
IC
/ PP No |
: |
S7061659I |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
29/10/2013 |
DIRECTOR
2
|
Name
Of Subject |
: |
BERNECKER
SIEGFRIED |
|
Address |
: |
WIESENWEG
15, 4063, HOERSHING AUSTRIA, AUSTRIA. |
|
IC
/ PP No |
: |
P6853021 |
|
Nationality |
: |
AUSTRIAN |
|
Date
of Appointment |
: |
01/04/2015 |
|
1)
|
Name
of Subject |
: |
KNUT
UNGER |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ENTRUST
PUBLIC ACCOUNTING CORPORATION |
|
Auditor'
Address |
: |
N/A |
|
1)
|
Company
Secretary |
: |
ANNA
MARDIANA ALISJAHBANA |
|
IC
/ PP No |
: |
S2205619J |
|
|
Address |
: |
46,
EASTWOOD ROAD, 04-06, LAGUNA, 88, 486356, SINGAPORE. |
|
|
2)
|
Company
Secretary |
: |
IAN
NG FOOK YUN |
|
IC
/ PP No |
: |
S2565916C |
|
|
Address |
: |
151,
CAVENAGH ROAD, 09-161, CAVENAGH COURT, 229628, SINGAPORE. |
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 |
: |
YES |
|
Overseas |
: |
YES |
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Goods
Traded |
: |
|
|
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of frequency
converters.
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 |
: |
65-65429618/31100043 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
3
LOYANG WAY 4, SINGAPORE 506956 |
|
Current
Address |
: |
3,
LOYANG WAY 4, 506956, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees and bankers.
The Subject also refused to comment anything on its nil turnover.
|
Overall
Assessment : |
||||||
|
The
turnover was nil as per the Registry. |
||||||
|
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
: |
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 2013, the Subject is a Private
Limited company, focusing on trading of frequency converters. The Subject has
been in business for less than 5 years and it has slowly been building up
contact with its clients while competing in the industry. However, it has yet
to enjoy a stable market shares as it need to compete many well established
players in the same field. The Subject have a strong support from its
shareholder. However, the Subject does not have a strong capital position.
Without a strong capital, the Subject may face difficulties to expand its
business compared to other large corporation.
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
Financial
Year End |
2014-03-31 |
|
Months |
5 |
|
Consolidated
Account |
Company |
|
Audited
Account |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
|
Financial
Type |
FULL |
|
Currency |
EUR |
|
PROFIT/(LOSS)
FROM OPERATIONS |
(85,475) |
|
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(85,475) |
|
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(85,475) |
|
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(85,475) |
|
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(85,475) |
|
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
DEPRECIATION
(as per notes to P&L) |
101 |
|
---------------- |
|
|
101 |
|
|
============= |
|
ASSETS
EMPLOYED: |
|
|
FIXED
ASSETS |
624 |
|
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
624 |
|
Other
debtors, deposits & prepayments |
687 |
|
Cash
& bank balances |
48,326 |
|
---------------- |
|
|
TOTAL
CURRENT ASSETS |
49,013 |
|
---------------- |
|
|
TOTAL
ASSET |
49,637 |
|
============= |
|
|
CURRENT
LIABILITIES |
|
|
Trade
creditors |
3,725 |
|
Other
creditors & accruals |
15,513 |
|
Amounts
owing to holding company |
57,883 |
|
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
77,121 |
|
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(28,108) |
|
---------------- |
|
|
TOTAL
NET ASSETS |
(27,484) |
|
============= |
|
|
SHARE
CAPITAL |
|
|
Ordinary
share capital |
57,991 |
|
---------------- |
|
|
TOTAL
SHARE CAPITAL |
57,991 |
|
Retained
profit/(loss) carried forward |
(85,475) |
|
---------------- |
|
|
TOTAL
RESERVES |
(85,475) |
|
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(27,484) |
|
---------------- |
|
|
(27,484) |
|
|
============= |
|
|
TYPES
OF FUNDS |
|
|
Cash |
48,326 |
|
Net
Liquid Funds |
48,326 |
|
Net
Liquid Assets |
(28,108) |
|
Net
Current Assets/(Liabilities) |
(28,108) |
|
Net
Tangible Assets |
(27,484) |
|
Net
Monetary Assets |
(28,108) |
|
PROFIT
& LOSS ITEMS |
|
|
Earnings
Before Interest & Tax (EBIT) |
0 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(85,374) |
|
BALANCE
SHEET ITEMS |
|
|
Total
Borrowings |
0 |
|
Total
Liabilities |
77,121 |
|
Total
Assets |
49,637 |
|
Net
Assets |
(27,484) |
|
Net
Assets Backing |
(27,484) |
|
Shareholders'
Funds |
(27,484) |
|
Total
Share Capital |
57,991 |
|
Total
Reserves |
(85,475) |
|
LIQUIDITY
(Times) |
|
|
Cash
Ratio |
0.63 |
|
Liquid
Ratio |
0.64 |
|
Current
Ratio |
0.64 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
Stock
Ratio |
0 |
|
Debtors
Ratio |
0 |
|
Creditors
Ratio |
0 |
|
SOLVENCY
RATIOS (Times) |
|
|
Gearing
Ratio |
0 |
|
Liabilities
Ratio |
(2.81) |
|
Times
Interest Earned Ratio |
0 |
|
Assets
Backing Ratio |
(0.47) |
|
PERFORMANCE
RATIO (%) |
|
|
Operating
Profit Margin |
0 |
|
Net
Profit Margin |
0 |
|
Return
On Net Assets |
311.00 |
|
Return
On Capital Employed |
311.00 |
|
Return
On Shareholders' Funds/Equity |
311.00 |
|
Dividend
Pay Out Ratio (Times) |
0 |
|
NOTES
TO ACCOUNTS |
|
|
Contingent
Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.08 |
|
UK Pound |
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.73.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.