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|
|
MIRA INFORM REPORT
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Report No. : |
491997 |
|
Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
STAMCORP INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
180, Cecil Street, 09-02, Bangkok Bank Building, 069546, |
|
|
|
|
Country : |
Singapore |
|
|
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Date of Incorporation : |
12.11.2010 |
|
|
|
|
Com. Reg. No.: |
201024161-G |
|
|
|
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Legal Form : |
Exempt Private (Limited By Share) |
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|
|
|
Line of Business : |
The Subject is principally engaged in the trading of scrap metal and waste materials. |
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|
|
|
No. of Employees : |
11 [2017] |
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 |
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|
|
|
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 2014-16 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 financials, no credit limit could be recommended.
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
201024161-G |
||||
|
COMPANY NAME |
: |
STAMCORP
INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
12/11/2010 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE
(LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
180, CECIL STREET,
09-02, BANGKOK BANK BUILDING, 069546, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
180, CECIL
STREET, 09-02, BANGKOK BUILDING, 069546, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63242568 |
||||
|
FAX.NO. |
: |
65-63721625 |
||||
|
CONTACT PERSON |
: |
NIKHIL KUMAR (
DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF SCRAP
METAL AND WASTE MATERIALS |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
1,536,652.00
ORDINARY SHARE, OF A VALUE OF SGD 1,536,652.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
11 [2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
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 less than SGD5 million are exempted from statutory auditing requirements. Instead of filing audited annual accounts, the Subject has to file in a document duly signed by its director in charge of its finance and the company secretary stating that the Subject is able to meet all its obligations as and when they fall due. 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 .
The Subject is principally engaged in the (as a / as an) trading of scrap metal and waste materials.
Share
Capital History
|
Date |
Issue & Paid
Up Capital |
|
23/08/2017 |
SGD 1,536,652.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NIKHIL KUMAR + |
25, LEONIE HILL,
22-01, LEONIE GARDENS, 239225, SINGAPORE. |
S7561450J |
1,536,652.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,536,652.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
DIRECTOR
1
|
Name Of Subject |
: |
NURHIN BINTE
SARIPI |
|
Address |
: |
289B, BUKIT
BATOK STREET 25, 02-206, 651289, SINGAPORE. |
|
IC / PP No |
: |
S8311794Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
25/10/2011 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial Year |
Status |
As At |
|
1 |
201024161G |
STAMCORP
INTERNATIONAL PTE. LTD. |
Director |
25/10/2011 |
0.00 |
- |
- |
- |
23/08/2017 |
DIRECTOR
2
|
Name Of Subject |
: |
NIKHIL KUMAR |
|
Address |
: |
25, LEONIE HILL,
22-01, LEONIE GARDENS, 239225, SINGAPORE. |
|
IC / PP No |
: |
S7561450J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
12/11/2010 |
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
(Number of Share) |
Profit/(loss)
After Tax |
Financial Year |
Status |
As At |
|
1 |
201024161G |
STAMCORP
INTERNATIONAL PTE. LTD. |
Director |
12/11/2010 |
1,536,652.00 |
- |
- |
- |
23/08/2017 |
|
2 |
200307528H |
SUNAGRO
INTERNATIONAL PTE. LTD. |
Director |
07/08/2003 |
2,895,336.00 |
- |
- |
- |
25/04/2014 |
MANAGEMENT
|
1) |
Name of Subject |
: |
NIKHIL KUMAR |
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
MGI N RAJAN
ASSOCIATES |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
1) |
Company
Secretary |
: |
SUJATA KUMAR |
|
IC / PP No |
: |
S7981581J |
|
|
Address |
: |
25, LEONIE HILL,
22-01, LEONIE GARDENS, 239225, SINGAPORE. |
|
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS
BANK LIMITED |
ENCUMBRANCE (S)
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201311033 |
13/08/2013 |
N/A |
UNITED OVERSEAS
BANK LIMITED |
- |
Unsatisfied |
LITIGATION CHECK
- SUBJECT COMPANY AS A DEFENDANT
* 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.
PAYMENT RECORD
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods Traded |
: |
SCRAP METAL AND
WASTE MATERIALS |
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
11 |
11 |
11 |
20 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of scrap metal
and waste materials.
The Subject is engaged in the assembling, breaking up, sorting, and wholesale
distribution of scrap and waste materials.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
6563242568 |
|
Current
Telephone Number |
: |
65-63242568 |
|
Match |
: |
YES |
|
Address Provided
by Client |
: |
180, CECIL
STREET #09-02, BANGKOK BANK BUILDING SINGAPORE 069546 |
|
Current Address |
: |
180, CECIL STREET,
09-02, BANGKOK BUILDING, 069546, SINGAPORE. |
|
Match |
: |
YES |
|
We have
contacted the Subject's Accountant and its Company Secretary for the latest
financial accounts. However they have rejected our request in view of the confidentiality
of the documents. |
||
Other
Investigations
We contacted one
of the staff from the Subject and she provided some information.
FINANCIAL ANALYSIS
|
The Subject is a
private exempt company which does not need to file in its accounts with the
Registrar of Companies for the information of the public. Therefore, 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 : |
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 |
- |
- |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
* 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 2010, the Subject is an Exempt Private
company, focusing on trading of scrap metal and waste materials. 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. A
paid up capital of SGD 1,536,652 allows the Subject to expand its business
more comfortably. However, the Subject does not have strong shareholders’
backing. Without a strong shareholders' backing, the opportunity of the
Subject to expand its business is limited. The industry shows an upward trend and this trend is very likely to sustain in the near terms. |
FINANCIAL ACCOUNT
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
|
SGD |
1 |
INR 49.12 |
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.