|
|
|
MIRA INFORM REPORT
|
Report No. : |
501007 |
|
Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVOXIA PTE. LTD. |
|
|
|
|
Registered Office : |
33, UBI Avenue 3, 03-15, Vertex, 408868 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
01.04.2011 |
|
|
|
|
Com. Reg. No.: |
201107918M |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the (as
a / as an) IT Distributor. |
|
|
|
|
No. of Employees : |
4 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, 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 growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
REGISTRATION
NO. |
: |
201107918M |
|
COMPANY
NAME |
: |
EVOXIA
PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
01/04/2011 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
33,
UBI AVENUE 3, 03-15, VERTEX, 408868, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
33,
UBI AVENUE, 03-15, VERTEX, 408868, SINGAPORE. |
|
TEL.NO. |
: |
65-68344429 |
|
FAX.NO. |
: |
65-68344425 |
|
EMAIL |
: |
INFO@EVOXIA.COM |
|
WEB
SITE |
: |
WWW.EVOXIA.COM |
|
CONTACT
PERSON |
: |
KOLLA
SIVA PRASAD ( MANAGING DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
IT
DISTRIBUTOR |
|
ISSUED
AND PAID UP CAPITAL |
: |
10,000.00
ORDINARY SHARE, OF A VALUE OF SGD 10,000.00 |
|
SALES |
: |
N/A |
|
NET
WORTH |
: |
N/A |
|
STAFF
STRENGTH |
: |
4
[2018] |
|
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 ≤ SGD10 million, or total assets ≤ SGD10 million or
number of employees ≤ 50 (meet at least 2 criteria for immediate past two
financial years) are exempted from statutory auditing requirements. 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.
An exempt private company with an annual
turnover of more than SGD10 million, or total assets more than SGD10 million or
number of employees more than 50 (meet at least 2 criteria for immediate past
two financial years) are required to file the audited financial.
The Subject is principally engaged in the (as
a / as an) it distributor.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
02/04/2018 |
SGD
10,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
KOLLA
SIVA PRASAD + |
259,
BISHAN STREET 22, 02-309, 570259, SINGAPORE. |
S7061672F |
10,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
DIRECTOR
1
|
Name
Of Subject |
: |
KOLLA
SIVA PRASAD |
|
Address |
: |
259,
BISHAN STREET 22, 02-309, 570259, SINGAPORE. |
|
IC
/ PP No |
: |
S7061672F |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
01/04/2011 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
201107918M |
EVOXIA
PTE. LTD. |
Director |
01/04/2011 |
10,000.00 |
100.00 |
- |
- |
- |
02/04/2018 |
MANAGEMENT
|
1)
|
Name
of Subject |
: |
KOLLA
SIVA PRASAD |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
Auditor |
: |
IR
PRACTICE |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
1)
|
Company
Secretary |
: |
K
RADHIKA RANI |
|
IC
/ PP No |
: |
S7583470E |
|
|
Address |
: |
259,
BISHAN STREET 22, 02-309, 570259, SINGAPORE. |
|
BANKING
No Banker found in our databank.
ENCUMBRANCE
(S)
No encumbrance was found in our databank at the time of investigation.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS
A DEFENDANT
* A check has been conducted in our databank against 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 |
: |
YES |
|
Overseas |
: |
YES |
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods
Traded |
: |
IT
PRODUCTS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
4 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) it distributor.
Evoxia provides security solution, next generation high performance solutions
and application software for Enterprise.
The Subject is the distributors for RSupport a industry leading remote support
software application that provides remote desktop or other IT infrastructure
hardware support to customers from office PC or any other PC or iPhone/ iPad or
any other Windows based smartphone.
CURRENT
INVESTIGATION
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
65
68344429 |
|
Current
Telephone Number |
: |
65-68344429 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
33,
UBI AVENUE, 03-15, VERTEX 408868 SINGAPORE |
|
Current
Address |
: |
33,
UBI AVENUE, 03-15, VERTEX, 408868, 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 bankers.
FINANCIAL
ANALYSIS
|
An
exempt private company with an annual turnover of ≤ SGD10 million, or
total assets ≤ SGD10 million or number of employees ≤ 50 (meet at
least 2 criteria for immediate past two financial years) are exempted from
statutory auditing requirements. 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. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
Major
Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population
(Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross
Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer
Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total
Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total
Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment
Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist
Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel
Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular
Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration
of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation
of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation
of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration
of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration
of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation
of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation
of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy
Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy
Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy
Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish
Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing
Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather
Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood
& Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper
& Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing
& Media |
113.8 |
105.968
|
100.0 |
85.1 |
73.1 |
|
Crude
Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical
& Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical
Products |
101.421
|
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber
& Plastic Products |
109.497
|
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic
Mineral |
107.4 |
90.759
|
100.0 |
89.8 |
72.9 |
|
Basic
Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated
Metal Products |
107.5 |
107.757
|
100.0 |
93.8 |
91.3 |
|
Machinery
& Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical
Machinery |
87.4 |
97.871
|
100.0 |
101.5 |
111.7 |
|
Electronic
Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport
Equipment |
111.1 |
106.68
|
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real
Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport,
Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance
& Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government
Services |
6.50 |
6.30 |
- |
- |
- |
|
Education
Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
*
Estimate / Preliminary |
|||||
|
#
Based on Index of Industrial Production (2015 = 100) |
INDUSTRY
ANALYSIS
|
INDUSTRY
: |
INFORMATION
TECHNOLOGY |
|
Singapore
is one the most wired country in the world connected by a network of fiber
optics. The 2016 World Economic Forum Global Information Technology Report
ranked Singapore as the most network-ready country in the world to leverage
Information and Communication Technologies (ICT) for increased
competitiveness and well-being. |
|
|
Supported
growth in the IT & information services segment, the information &
communications sector expanded to 6.0% in the fourth quarter of 2017, accelerating
from the 5.1% growth in the previous quarter. For the whole of 2017, the
sector posted growth of 3.3%, easing from the 3.6% increase in 2016. |
|
|
According
to Infocomm Media Development Authority (IMDA), computer usage amongst all
businesses in Singapore is 90% and broadband adoption rate increased to 95%
for those companies with 10 or more employees. More than 97% of Singapore
homes have broadband access and households showed trends of switching to
using Internet-enabled mobile phones and other Internet-enabled devices such
as Smart TVs to access the Internet. |
|
|
Singapore
has developed a 10-year Infocomm and Media 2025 Master Plan that charts the
directions the country will take to stay at the forefront of innovation and achieve
its vision of becoming a Smart Nation. To unify and speed up the roll out of
its smart nation initiatives, the Singapore government has made a series of
organizational restructurings, and formed the Smart Nation and Digital
Government Group (SNDGG) under the Prime Minister’s Office on May 1, 2017. It
is an executive agency comprising staff from the Digital Government
Directorate of the Ministry of Finance (MOF), the Government Technology
Policy Department in the Ministry of Communications and Information (MCI),
and the Smart Nation Program Office (SNPO) and the Government Technology
Agency (GovTech). |
|
|
According
to the 2016 Top Markets Report Health IT Country Case Study by USDOC ITA,
Singapore was ranked the 5th market for Health IT exports. Singapore
continues to be a solid Health IT market, particularly among Asian countries.
The city-state recently announced plans to expand its National Electronic
Health Record system, first developed in 2010 and in existence since 2011. It
is expected to procure an estimated US$200 million in ICT projects in the
healthcare sector in FY 2017. Over the next five years, the Ministry of
Health (MOH) expects to increase its procurement of IT services and
technologies by at least 25%. The Integrated Health Information Systems
(IHiS), the technology arm for MOH plans to invest in co-creating disease
prevention and management programs, home diagnostic toolsets, and assistive
robots. |
|
|
According
to Business Monitor International (BMI), Singapore is an advanced and
high-value enterprise market where software and services spending are
expected to drive continued growth in total IT spending over the medium term.
Singapore also benefits from its regional hub status. BMI forecasts 2017
sales of computer hardware in Singapore to amount to US$1.45 billion and
software to reach US$2.14 billion. |
|
|
Besides,
the Singapore government announced that it will be spending more than US$1.7
billion on ICT tenders in addition to the US$200 million on ICT projects in the
healthcare sector. U.S. companies interested in doing business with the
Singapore government should register with GeBIZ, the Singapore government's
one-stop e-procurement portal where public sector invitations for quotations
and tenders are posted. |
|
|
Singapore
is expected to have a sharp increase in its over-60 population over the next
15 years. Besides high expected growth in the over-60 population, Singapore’s
compact geography, highly urbanized society, high per-capita income and
widespread use of mobile phones and Internet are other factors that support
strong Health IT usage. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
Incorporated
in 2011, the Subject is an Exempt Private company, focusing on it
distributor. Having been in business for more than 5 years, the Subject has
established a remarkable clientele base for itself which has contributed to
its business growth. With an issued and paid up capital of SGD 10,000
contributed by individual shareholders, the Subject may face difficulties in
its attempt to further expand its business in the future. Thus, the Subject
should put more efforts on its business to gain higher market share while
competing aggressively in the market. |
FINANCIAL
ACCOUNT
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
SGD |
1 |
INR 49.69 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.