|
|
|
MIRA INFORM REPORT
|
Report No. : |
503737 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KIMPAI HOLDINGS
PTE. LTD. |
|
|
|
|
Registered Office : |
16, Kallang Place, 04-08, 339156 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
12.10.2016 |
|
|
|
|
Com. Reg. No.: |
201628010E |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
holding companies. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Relatively 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
|
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 |
Note
In absence of company financials, no credit limit could be recommended.
EXECUTIVE SUMMARY
|
|
REGISTRATION NO. |
: |
201628010E |
|
COMPANY NAME |
: |
KIMPAI HOLDINGS PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
12/10/2016 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
16, KALLANG PLACE, 04-08, 339156,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
16 KALLANG PLACE #04-08, 339156, SINGAPORE. |
|
TEL.NO. |
: |
65-62930048 |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
MR. CHAVALIT LIMATIBUL ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
HOLDING COMPANIES |
|
ISSUED AND PAID UP CAPITAL |
: |
385,000.00 ORDINARY SHARE, OF A VALUE OF
EUR 385,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
UNKNOWN |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
|
PROPOSED CREDIT LIMIT |
: |
NIL |
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) holding companies.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
13/04/2018 |
EUR 385,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. SUTHEE LIMATIBUL + |
2234/68, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
AA1981010 |
96,250.00 |
25.00 |
|
POL.CAPT. SUMET LIMATIBUL + |
2090/3, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
AA2298241 |
57,750.00 |
15.00 |
|
MR. CHAVALIT LIMATIBUL + |
2090/4, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
AA5220176 |
57,750.00 |
15.00 |
|
MR. BOONCHAI LIMATIBUL |
1/12, LANGTALADKAOWATPRAYAKAI ALLEY, WATPRAYAKAI
SUB-DISTRICT, BANG KHO LAEM DISTRICT, BANGKOK THAILAND |
AA1990718 |
48,125.00 |
12.50 |
|
MISS THEERARAT LIMATIBUL |
2234/68, CHAN ROAD, CHONG NONSI SUB
-DISTRICT, YAN NAWA DISTRICT, BANGKOK THAILAND |
AA2028328 |
48,125.00 |
12.50 |
|
MR. SURAPARP LIMATIBUL |
11, SOI NARADHIWAS RAJANAGARINDRA 20,
CHONGNONSI SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK THAILAND |
AA2298385 |
38,500.00 |
10.00 |
|
MR. MONGKOL LIMATIBUL |
9, SOI NARADHIWAS RAJANAGARINDRA 20, CHONGNONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK THAILAND |
AA2058783 |
38,500.00 |
10.00 |
|
--------------- |
------ |
|||
|
385,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. BOONCHU LIMATIBUL |
|
Address |
: |
1/25, LANGTALADKAOWATPRAYAKAI ALLEY,
WATPRAYAKAI SUB-DISTRICT, BANG KHO LAEM DISTRICT, BANGKOK, THAILAND. |
|
IC / PP No |
: |
AA1966983 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
12/10/2016 |
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 |
201628010E |
KIMPAI HOLDINGS PTE. LTD. |
Director |
12/10/2016 |
0.00 |
- |
- |
- |
- |
13/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
BOON SIEW HOCK |
|
Address |
: |
112, WHAMPOA ROAD, 14-75, 321112,
SINGAPORE. |
|
IC / PP No |
: |
S1497234Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
12/10/2016 |
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 |
198903248G |
COMMITT SYSTEM (S) PTE LTD |
Director |
08/06/1995 |
867,000.00 |
86.70 |
- |
- |
- |
11/11/2016 |
|
2 |
201628010E |
KIMPAI HOLDINGS PTE. LTD. |
Director |
12/10/2016 |
0.00 |
- |
- |
- |
- |
13/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
POL.CAPT. SUMET LIMATIBUL |
|
Address |
: |
2090/3, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
|
IC / PP No |
: |
AA2298241 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
12/10/2016 |
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 |
201628010E |
KIMPAI HOLDINGS PTE. LTD. |
Director |
12/10/2016 |
57,750.00 |
15.00 |
- |
- |
- |
13/04/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. CHAVALIT LIMATIBUL |
|
Address |
: |
2090/4, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
|
IC / PP No |
: |
AA5220176 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
12/10/2016 |
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 |
201628010E |
KIMPAI HOLDINGS PTE. LTD. |
Director |
12/10/2016 |
57,750.00 |
15.00 |
- |
- |
- |
13/04/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. SUTHEE LIMATIBUL |
|
Address |
: |
2234/68, CHAN ROAD, CHONG NONSI
SUB-DISTRICT, YAN NAWA DISTRICT, BANGKOK, THAILAND. |
|
IC / PP No |
: |
AA1981010 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
12/10/2016 |
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 |
201628010E |
KIMPAI HOLDINGS PTE. LTD. |
Director |
12/10/2016 |
96,250.00 |
25.00 |
- |
- |
- |
13/04/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
MR. CHAVALIT LIMATIBUL |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
LIM MEI JING @ LIN MEIJING |
|
IC / PP No |
: |
S8432456F |
|
|
Address |
: |
33, AMBER GARDENS, 03-08, THE ESTA, 439968,
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Services |
: |
HOLDING COMPANIES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) holding
companies.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62930048 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
16 KALLANG PLACE #04-08 3391, SINGAPORE |
|
Current Address |
: |
16 KALLANG PLACE #04-08, 339156, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose the fax number and number of employees.
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 : |
ECONOMY |
|
In the fourth quarter of 2017, the economy
grew by 3.6% on a year-on-year basis, moderating from the 5.5% growth in the
previous quarter. The sectors which contributed the most to growth in the quarter
were the manufacturing and finance & insurance sectors. For the whole of
2017, the economy expanded by 3.6%, higher than the 2.4% growth in 2016. All
major sectors grew in 2017, with the exception of the construction sector.
The manufacturing and finance & insurance sectors were the key
contributors to overall GDP growth. |
|
|
The manufacturing sector expanded by 4.8%
in the fourth quarter 2017, slowing from the 19% surge in the third quarter.
Growth was led by robust output expansions in the electronics and precision
engineering clusters, which more than offset declines in the biomedical
manufacturing and transport engineering clusters. For full year 2017, the
manufacturing sector grew by 10%, higher than the 3.7% growth in 2016. Growth
was primarily driven by the electronics and precision engineering clusters,
while output declines in the biomedical manufacturing, transport engineering
and general manufacturing clusters weighed on growth. |
|
|
The services producing industries collectively
expanded to 3.5% in the fourth quarter 2017, the same pace of growth as the
previous quarter. Among the services sectors, the finance & insurance
sector registered the strongest growth at 6.3%, followed by the information
& communications (6.0%) and the transportation & storage (5.3%)
sectors. Services producing industries as a whole expanded to 2.8% in full
year 2017, faster than the 1.4% growth in 2016. All services sectors saw
positive growth. |
|
|
Among the services sectors, the transportation
& storage and finance & insurance sectors registered the fastest pace
of growth in 2017. Growth of the transportation & storage sector came in
at 4.8%, a pickup from the 1.3% in 2016, largely due to stronger growth in
the water transport and air transport segments. Similarly, the finance &
insurance sector expanded by 4.8%, improving from the 1.6% growth in 2016.
The robust performance of the sector was largely because of strong growth in
the fund management segment, even as growth in the financial intermediation
and insurance segments remained firm. |
|
|
Besides, the construction sector contracted
to 5.0%, extending the 9.3% decline in the third quarter 2017. The output of
the sector was weighed down primarily by the weakness in private sector construction
activities, as certified payments across all private construction segments
declined. Meanwhile, the construction sector contracted to 8.4% in 2017, a
reversal from the 1.9% growth in 2016. Output in the sector was primarily
weighed down by the weakness in private sector construction works. |
|
|
In the fourth quarter 2017, total demand
rose by 4.9%, lower than the 5.5% growth in the preceding quarter. For the
whole of 2017, growth in total demand came in at 4.4%, an improvement from
the 1.6% in 2016. External demand was the key contributor to total demand
growth (3.0 percentage-points), while the contribution from domestic demand
was also positive (1.4 percentage-points). |
|
|
Total domestic demand rose by 6.6 % in the
fourth quarter 2017, following the 8.5% growth in the previous quarter.
Growth was supported primarily by the build-up in inventories and also higher
consumption expenditure. Gross fixed capital formation also contributed
positively to total domestic demand growth in the quarter. For 2017 as a
whole, total domestic demand increased by 5.4%, higher than the 3.1%
expansion in 2016. Meanwhile, external demand rose by 4.2% in the fourth
quarter 2017, similar to the 4.4% growth in the preceding quarter. The
increase in external demand was primarily due to higher real merchandise
exports. For the full year 2017, external demand grew at a faster pace of
4.1%, compared to the 1.1% growth in 2016. |
|
|
Total consumption expenditure rose at a
slower pace of 4.4% in the fourth quarter 2017, compared to the 5.7%
expansion in the previous quarter. For the full year 2017, total consumption
expenditure grew by 3.3%, an improvement from the 2.1% growth in 2016, on the
back of faster growth in both public and private consumption. Public
consumption expanded by 4.1%, compared to 3.5% in 2016, while private
consumption grew by 3.1%, compared to 1.7% in the previous year. Expenditure
on miscellaneous goods & services, recreation & culture and housing &
utilities were the main contributors to private consumption growth. |
|
|
Since November 2017, the outlook for global
growth has improved slightly with the IMF upgrading its global growth
forecast for 2018 to 3.9%, partly on the back of higher growth expected in the
US due to the recently approved tax reforms. However, as compared to 2017,
growth in most of Singapore’s key final demand markets such as the Eurozone,
Japan, NIEs and ASEAN-5 is projected to moderate or remain unchanged in 2018.
In the US, GDP growth is projected to improve further in 2018, supported by
domestic demand and fiscal stimulus arising from the recently approved tax
reforms, although there are uncertainties around the extent to which
investments would respond to the tax reforms. On the other hand, growth in
the Eurozone economy is projected to moderate in 2018, following the rebound
seen in 2017. Growth will be underpinned by continued improvements in labour
market conditions and largely accommodative monetary policies. |
|
|
In Asia, China’s growth is also expected to
ease in 2018 on the back of a slowdown in investment, even as consumption is
likely to remain stable and provide support to growth. Meanwhile, growth in
the key ASEAN economies is expected to remain firm in 2018, supported by sustained
improvements in domestic demand as well as merchandise exports. On balance,
the external demand outlook for Singapore is expected to be slightly weaker
in 2018 as compared to 2017. Taking into account the global and domestic
economic environments, Ministry of Trade and Industry (MTI) has maintained
the 2018 GDP growth forecast at “1.5 to 3.5%”. MTI’s central view is that
growth will likely come in slightly above the middle of the forecast range,
barring the materialisation of downside risks. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL 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 |
INR 65.45 |
|
|
1 |
INR 93.27 |
|
Euro |
1 |
INR 80.74 |
|
SGD |
1 |
INR 50.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.