MIRA INFORM REPORT

 

 

Report No. :

496217

Report Date :

09.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

KEMPAR ENERGY PTE. LTD.

 

 

Registered Office :

10, Anson Road, 27 - 13, International Plaza, 079903,

 

 

Country :

Singapore

 

 

Date of Incorporation :

22.02.2010

 

 

Com. Reg. No.:

201003822R

 

 

Legal Form :

Exempt Private (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the trading of petrochemicals, chemicals and commodities products.

 

 

No. of Employees :

6

 

 

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.

:

201003822R

COMPANY NAME

:

KEMPAR ENERGY PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

22/02/2010

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

10, ANSON ROAD, 27 - 13, INTERNATIONAL PLAZA, 079903, SINGAPORE.

BUSINESS ADDRESS

:

10, ANSON ROAD, 27 - 13, INTERNATIONAL PLAZA, 079903, SINGAPORE.

TEL.NO.

:

65-62263369

FAX.NO.

:

65-62263370

EMAIL

:

INFO@KEMPAR.COM

WEB SITE

:

WWW.KEMPAR.COM

CONTACT PERSON

:

NIKUNJ PAREKH ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF PETROCHEMICALS, CHEMICALS AND COMMODITIES PRODUCTS

ISSUED AND PAID UP CAPITAL

:

3,191,937.00 ORDINARY SHARE, OF A VALUE OF SGD 3,191,937.00

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

6 [2018]

BANKER (S)

:

BNP PARIBAS
CITIBANK N.A.

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 ≤ 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 petrochemicals, chemicals and commodities products.

 

Former Address(es)

Address

As At Date

101, CECIL STREET, 14-10, TONG ENG BUILDING, 069533

N/A

 

Share Capital History

Date

Issue & Paid Up Capital

07/03/2018

SGD 3,191,937.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. NIKUNJ PAREKH +

187, TANJONG RHU ROAD, 19-02, SANCTUARY GREEN, 436925, SINGAPORE.

G6394685R

1,826,332.00

57.22

POOJA PAREKH +

187, TANJONG RHU ROAD, 19-02, SANCTUARY GREEN, 436925, SINGAPORE.

G5044823T

1,365,605.00

42.78

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

------

3,191,937.00

100.00

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

=====

+ Also Director



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

SURAJ AGGARWAL

Address

:

3, SIMEI STREET 3, 04-13 , EASTPOINT GREEN, 529891, SINGAPORE.

IC / PP No

:

S7885337I

Nationality

:

SINGAPOREAN

Date of Appointment

:

31/08/2017


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

201003822R

KEMPAR ENERGY PTE. LTD.

Director

31/08/2017

0.00

-

-

-

-

07/03/2018

 

DIRECTOR 2

 

Name Of Subject

:

POOJA PAREKH

Address

:

187, TANJONG RHU ROAD, 19-02, SANCTUARY GREEN, 436925, SINGAPORE.

IC / PP No

:

G5044823T

Nationality

:

INDIAN

Date of Appointment

:

08/08/2011



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

201003822R

KEMPAR ENERGY PTE. LTD.

Director

08/08/2011

1,365,605.00

42.78

-

-

-

07/03/2018

 

DIRECTOR 3

 

Name Of Subject

:

MR. NIKUNJ PAREKH

Address

:

187, TANJONG RHU ROAD, 19-02, SANCTUARY GREEN, 436925, SINGAPORE.

IC / PP No

:

G6394685R

Nationality

:

INDIAN

Date of Appointment

:

22/02/2010



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

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

201003822R

KEMPAR ENERGY PTE. LTD.

Director

22/02/2010

1,826,332.00

57.22

-

-

-

07/03/2018



MANAGEMENT

 

 

1)

Name of Subject

:

NIKUNJ PAREKH

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

STAMFORD ASSOCIATES LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KALYANASUNDARAM MARAN

IC / PP No

:

S2662120H

Address

:

30, JALAN BAHAGIA, 02-380, WHAMPOA VISTA, 320030, SINGAPORE.

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

BNP PARIBAS

 

2)

Name

:

CITIBANK N.A.

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201608331

22/08/2016

N/A

DBS BANK LTD.

-

Unsatisfied

C201611918

25/11/2016

N/A

CITIBANK N.A.

-

Unsatisfied

C201611920

25/11/2016

N/A

CITIBANK N.A.

-

Unsatisfied

C201701405

09/02/2017

N/A

STANDARD CHARTERED BANK (SINGAPORE)

-

Unsatisfied

C201701412

09/02/2017

N/A

STANDARD CHARTERED BANK (SINGAPORE)

-

Unsatisfied

C201712341

01/12/2017

N/A

BANK OF CHINA LIMITED, SINGAPORE BRANCH

-

Unsatisfied

C201712343

01/12/2017

N/A

BANK OF CHINA LIMITED, SINGAPORE BRANCH

-

Unsatisfied

C201713180

21/12/2017

N/A

ICICI BANK LIMITED, SINGAPORE BRANCH

-

Unsatisfied

C201713181

21/12/2017

N/A

ICICI BANK LIMITED, SINGAPORE BRANCH

-

Unsatisfied

 

 

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

Import Countries

:

ASIA

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

MIDDLE EAST

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

PETROCHEMICALS, CHEMICALS AND COMMODITIES PRODUCTS

 

Total Number of Employees:

 

YEAR

2018

2017

2016

2015

2014

GROUP

N/A

N/A

N/A

N/A

N/A

COMPANY

6

6

5

5

2

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of petrochemicals, chemicals and commodities products.

The Subject deals with Aromatics, Solvents, Petrochemicals and Energy Products located in Singapore with offices and distribution locations in India, Middle East and South East Asia.

The Subject sells the products according to its customers' orders.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62263369

Match

:

N/A

Address Provided by Client

:

10 ANSON ROAD, 27-13 INTERNATIONAL PLAZA 079903 SINGAPORE

Current Address

:

10, ANSON ROAD, 27 - 13, INTERNATIONAL PLAZA, 079903, SINGAPORE.

Match

:

YES

 

Other Investigations


We have contacted one of the staff from the Subject and she provided some information.


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 :

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 :

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 petrochemicals, chemicals and commodities products. 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. Presently, the issued and paid up capital of the Subject stands at SGD 3,191,937. The Subject does not have strong shareholders' backing. Without a strong shareholders' backing, the opportunity of the Subject to expand its business is limited.

 
Investigation revealed, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 6 employees. 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 Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

 
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.



FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office.



 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.92

UK Pound

1

INR 90.23

Euro

1

INR 80.54

SGD

1

INR 49.45

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

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.