MIRA INFORM REPORT

 

 

Report No. :

489605

Report Date :

06.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TEXPORTO PTE. LTD.

 

 

Registered Office :

10, Anson Road, 21-07, International Plaza, 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.01.2009

 

 

Com. Reg. No.:

200900658H

 

 

Legal Form :

Exempt Private (Limited By Share)

 

 

Line of Business :

Subject is engaged in the trading of textiles.

 

 

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 :

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.

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200900658H

COMPANY NAME

:

TEXPORTO PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

12/01/2009

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

10, ANSON ROAD, 21-07, INTERNATIONAL PLAZA, 079903, SINGAPORE.

BUSINESS ADDRESS

:

10, ANSON ROAD, 21-07, INTERNATIONAL PLAZA, 079903, SINGAPORE.

TEL.NO.

:

65-63241922

FAX.NO.

:

65-63248322

CONTACT PERSON

:

SUNDEEP SINGH SANDHU ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF TEXTILES

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF USD 100,000.00

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

:

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) trading of textiles.

 

Share Capital History

Date

Issue & Paid Up Capital

05/02/2018

USD 100,000.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

SUTINDER JIT KAUR SANDHU

1061, SECTOR 17B, IFFCO COLONY GURGAON, HARYANA 122001 ,INDIA

Z2796578

100,000.00

100.00

---------------

------

100,000.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

SUNDEEP SINGH SANDHU

Address

:

15, BEDOK RESERVOIR VIEW, 11-02, AQUARIUS BY THE PARK, 478933, SINGAPORE.

IC / PP No

:

G6359246W

Nationality

:

INDIAN

Date of Appointment

:

12/01/2009



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

200900658H

TEXPORTO PTE. LTD.

Director

12/01/2009

0.00

-

SGD997,616.00

2012

-

05/02/2018



MANAGEMENT

 

 

1)

Name of Subject

:

SUNDEEP SINGH SANDHU

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

A GARANZIA LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

DOREEN LOW LIY HUANG

IC / PP No

:

S0201371A

Address

:

10, ANSON ROAD, 21-07, INTERNATIONAL PLAZA, 079903, SINGAPORE.

 

 

BANKING


No Banker found in our databank.

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

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 staff from the registered office refused to disclose the Subject's suppliers.

 

 

CLIENTELE

 

Local

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's clientele.

 

 

OPERATIONS

 

Goods Traded

:

TEXTILES

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of textiles.

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

:

65-63241922

Match

:

N/A

Address Provided by Client

:

10 ANSAON ROAD #21-07 INTERNATIONAL PLAZA 079903 SINGAPORE

Current Address

:

10, ANSON ROAD, 21-07, INTERNATIONAL PLAZA, 079903, SINGAPORE.

Match

:

NO

 

Other Investigations


We have contacted one of the staff from the Subject's registered office and she only provided limited information.

The address provided as per stated in the report.

She refused to disclose the Subject bankers 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.

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.

Overall financial condition of the Subject : N/A

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2012

2013

2014

2015

2016*

 

Population (Million)

5.31

5.40

5.47

5.54

5.63

Gross Domestic Products ( % )

1.3

3.7

(3.5)

3.7

4.8

Consumer Price Index

4.6

2.4

2.4

(0.5)

(0.7)

Total Imports (Million)

474,554.0

466,762.0

463,779.1

407,767.9

398,372.0

Total Exports (Million)

510,329.0

513,391.0

518,922.7

476,285.4

468,552.0

 

Unemployment Rate (%)

2.0

1.9

1.9

1.9

2.1

Tourist Arrival (Million)

14.49

15.46

15.01

15.23

16.28

Hotel Occupancy Rate (%)

86.4

86.3

85.5

85.0

-

Cellular Phone Subscriber (Million)

1.52

1.97

1.98

1.99

-

 

Registration of New Companies (No.)

31,892

37,288

41,589

34,243

35,528

Registration of New Companies (%)

(1.3)

9.8

11.5

(17.7)

3.8

Liquidation of Companies (No.)

17,218

17,369

18,767

21,384

-

Liquidation of Companies (%)

9.4

(5.3)

8.0

13.9

-

 

Registration of New Businesses (No.)

24,788

22,893

35,773

28,480

33,326

Registration of New Businesses (%)

5.51

1.70

56.30

(20.39)

17.02

Liquidation of Businesses (No.)

22,489

22,598

22,098

26,116

-

Liquidation of Businesses (%)

(2.2)

0.5

(2.2)

18.2

-

 

Bankruptcy Orders (No.)

1,748

1,992

1,757

1,776

-

Bankruptcy Orders (%)

14.5

14.0

(11.8)

1.0

-

Bankruptcy Discharges (No.)

1,881

2,584

3,546

3,499

-

Bankruptcy Discharges (%)

35.2

37.4

37.2

(1.3)

-

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

5.16

1.78

4.29

3.04

-

Fish Supply & Wholesale

(0.5)

(3.8)

(8.6)

(8.5)

(9.9)

 

Manufacturing #

Food, Beverages & Tobacco

97.9

97.9

99.4

100.0

103.7

Textiles

140.1

119.5

102.7

100.0

93.3

Wearing Apparel

395.4

334.1

212.6

100.0

80.3

Leather Products & Footwear

109.5

122.0

106.5

100.0

93.2

Wood & Wood Products

93.3

103.0

107.2

100.0

90.5

Paper & Paper Products

98.5

104.4

104.5

100.0

99.7

Printing & Media

122.8

113.8

105.968

100.0

86.9

Crude Oil Refineries

107.1

100.7

92.2

100.0

100.5

Chemical & Chemical Products

85.3

88.4

96.7

100.0

97.6

Pharmaceutical Products

103.8

101.421

109.4

100.0

115.9

Rubber & Plastic Products

113.5

109.497

109.2

100.0

87.9

Non-metallic Mineral

108.8

107.4

90.759

100.0

93.6

Basic Metals

91.5

77.2

99.3

100.0

113.1

Fabricated Metal Products

107.314

107.5

107.757

100.0

91.7

Machinery & Equipment

107.3

109.1

118.2

100.0

79.3

Electrical Machinery

80.102

87.4

97.871

100.0

99.3

Electronic Components

100.7

105.0

105.6

100.0

106.3

Transport Equipment

109.9

111.1

106.68

100.0

98.7

 

Construction

28.70

25.40

22.00

-

-

Real Estate

31.9

88.5

145.1

-

-

 

Services

Electricity, Gas & Water

6.30

6.70

6.50

-

-

Transport, Storage & Communication

5.30

9.80

14.20

-

-

Finance & Insurance

0.50

3.30

6.00

-

7.40

Government Services

6.00

6.50

6.30

-

-

Education Services

0.30

3.10

5.98

-

2.40

 

* Estimate / Preliminary

# Based on Index of Industrial Production (2015 = 100)

 

INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale & retail trade sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the preceding quarter. Growth was supported by both the wholesale trade and retail trade segments. The wholesale trade segment was boosted by an increase in both domestic and foreign wholesale trade sales volume. In particular, the domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in the previous quarter. The strong performance in domestic wholesale trade was due to a surge in the sales of petroleum and petroleum products (14%), chemicals & chemical products (39%) and telecommunications & computers (18%).

Similarly, the foreign wholesale trade index rose by 10% in the third quarter of 2015, accelerating from the 6.9% rise in the previous quarter. Growth was driven by improvements in the sales of petroleum & petroleum products (21%), metals, timber & construction materials (10%) and general wholesale trade (8.8%).

Overall retail trade sales volume also recorded resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth was supported by a surge in the volume of motor vehicle sales (44%), which was in turn due to a substantial increase in the supply of Certificate of Entitlements. Excluding motor vehicles, retail sales volume increased at a much slower pace of 0.7% over the same period. The increase in retail sales volume (excluding motor vehicles) was due to improved non-discretionary goods sales. For instance, the sales of medical goods & toiletries and department store goods rose by 8.1% and 3.6% respectively.

According to the Retail News Asia, Food and beverage has overtaken fashion as the primary driver of demand for retail real estate in Singapore. Despite declining retail sales and consumer spending, the prime retail sector remained in good shape during the third quarter 2015.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2009, the Subject is an Exempt Private company, focusing on trading of textiles. 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 USD 100,000 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.

Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

 
No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing.


The industry shows an upward trend and this trend is very likely to sustain in the near terms.

 
In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

TEXPORTO PTE. LTD.

Note : The Subject is an Exempt Private Company and it is not required by law to file its financials for public view. The below financials are the last financial that submitted by the Subject to the Registrar before changed to Exempt Private Company.

Financial Year End

2012-12-31

2011-12-31

2010-12-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

SUMMARY

SUMMARY

SUMMARY

Currency

SGD

SGD

SGD

TURNOVER

40,349,965

51,831,388

38,599,081

----------------

----------------

----------------

Total Turnover

40,349,965

51,831,388

38,599,081

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

1,009,481

541,948

421,162

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,009,481

541,948

421,162

Taxation

(11,865)

(3,250)

-

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

997,616

538,698

421,162

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS

997,616

538,698

421,162

----------------

----------------

----------------

PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS

997,616

538,698

421,162

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

476,013

538,325

117,163

----------------

----------------

----------------

As restated

476,013

538,325

117,163

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

1,473,629

1,077,023

538,325

TRANSFER TO RESERVES - General

(512,813)

(601,010)

-

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

960,816

476,013

538,325

=============

=============

=============

 

 

 

 

 

 

 

 

 

 

BALANCE SHEET

 

 

TEXPORTO PTE. LTD.

 

CURRENT ASSETS

TOTAL CURRENT ASSETS

5,407,481

6,883,556

5,297,582

----------------

----------------

----------------

TOTAL ASSET

5,407,481

6,883,556

5,297,582

=============

=============

=============

CURRENT LIABILITIES

TOTAL CURRENT LIABILITIES

4,321,245

6,282,123

4,721,292

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

1,086,236

601,433

576,290

----------------

----------------

----------------

LONG TERM LIABILITIES

TOTAL NET ASSETS

1,086,236

601,433

576,290

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

125,420

125,420

125,420

----------------

----------------

----------------

TOTAL SHARE CAPITAL

125,420

125,420

125,420

RESERVES

Retained profit/(loss) carried forward

960,816

476,013

538,325

Others

-

-

(87,455)

----------------

----------------

----------------

TOTAL RESERVES

960,816

476,013

450,870

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,086,236

601,433

576,290

=============

=============

=============

 

 

 

 

 

 

FINANCIAL RATIO

 

 

TEXPORTO PTE. LTD.

 

TYPES OF FUNDS

Net Liquid Assets

1,086,236

601,433

576,290

Net Current Assets/(Liabilities)

1,086,236

601,433

576,290

Net Tangible Assets

1,086,236

601,433

576,290

Net Monetary Assets

1,086,236

601,433

576,290

BALANCE SHEET ITEMS

Total Liabilities

4,321,245

6,282,123

4,721,292

Total Assets

5,407,481

6,883,556

5,297,582

Net Assets

1,086,236

601,433

576,290

Net Assets Backing

1,086,236

601,433

576,290

Shareholders' Funds

1,086,236

601,433

576,290

Total Share Capital

125,420

125,420

125,420

Total Reserves

960,816

476,013

450,870

GROWTH RATIOS (Year on Year) (%)

Revenue

(22.15)

34.28

-

Proft/(Loss) Before Tax

86.27

28.68

-

Proft/(Loss) After Tax

85.19

27.91

-

Total Assets

(21.44)

29.94

-

Total Liabilities

(31.21)

33.06

-

LIQUIDITY (Times)

Current Ratio

1.25

1.10

1.12

SOLVENCY RATIOS (Times)

Liabilities Ratio

3.98

10.45

8.19

Assets Backing Ratio

8.66

4.80

4.59

PERFORMANCE RATIO (%)

Operating Profit Margin

2.50

1.05

1.09

Net Profit Margin

2.47

1.04

1.09

Return On Net Assets

92.93

90.11

73.08

Return On Capital Employed

92.93

90.11

73.08

Return On Shareholders' Funds/Equity

91.84

89.57

73.08

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.03

UK Pound

1

INR 90.40

Euro

1

INR 79.73

SGD

1

INR 48.62

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TRU

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.