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|
|
MIRA INFORM REPORT
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Report No. : |
506217 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WEALTH METAL PTE
LTD |
|
|
|
|
Registered Office : |
605A, Macpherson Road, 05-07, 368240 |
|
|
|
|
Country : |
Singapore |
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|
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Date of Incorporation : |
04.06.1997 |
|
|
|
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Com. Reg. No.: |
199703796Z |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
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|
|
|
Line of Business : |
The subject is principally engaged in the
general wholesale trade. |
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|
|
|
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
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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 electronics,
petroleum products, chemicals, medical and optical devices, pharmaceuticals,
and on Singapore’s 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 from 2012-2017 was slower
than during the previous decade, a result of slowing structural growth - as
Singapore reached high-income levels - and soft global demand for exports.
Growth recovered to 3.6% in 2017 with a strengthening global economy.
The government is attempting to restructure Singapore’s economy to
reduce its dependence on foreign labor, raise productivity growth, and increase
wages amid slowing labor force growth and an aging population. 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 signatory of the Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CPTPP), and a party to the Regional Comprehensive Economic
Partnership (RCEP) negotiations with 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. |
: |
199703796Z |
|
COMPANY NAME |
: |
WEALTH METAL PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/06/1997 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
605A, MACPHERSON ROAD, 05-07, 368240,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
N/A |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
PRINCIPAL ACTIVITY |
: |
GENERAL WHOLESALE TRADE |
|
ISSUED AND PAID UP CAPITAL |
: |
1,000.00 ORDINARY SHARE, OF A VALUE OF SGD
1,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
UNKNOWN |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) general wholesale trade.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
27/04/2018 |
SGD 1,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WONG SIU WAI + |
567, PASIR RIS STREET 51, 05-102, 510567,
SINGAPORE. |
S2668994E |
700.00 |
70.00 |
|
DENISE YIM WAI YEE + |
567, PASIR RIS STREET 51, 05-102, 510567,
SINGAPORE. |
S2668995C |
300.00 |
30.00 |
|
--------------- |
------ |
|||
|
1,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
DENISE YIM WAI YEE |
|
Address |
: |
567, PASIR RIS STREET 51, 05-102, 510567,
SINGAPORE. |
|
IC / PP No |
: |
S2668995C |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
27/05/2009 |
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 |
199703796Z |
WEALTH METAL PTE LTD |
Director |
27/05/2009 |
300.00 |
30.00 |
- |
- |
- |
27/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
WONG SIU WAI |
|
Address |
: |
567, PASIR RIS STREET 51, 05-102, 510567,
SINGAPORE. |
|
IC / PP No |
: |
S2668994E |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
04/06/1997 |
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 |
199703796Z |
WEALTH METAL PTE LTD |
Director |
04/06/1997 |
700.00 |
70.00 |
- |
- |
- |
27/04/2018 |
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
|
Auditor |
: |
WONG HONG KOON & CO |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
TEO CHWEE HIA |
|
IC / PP No |
: |
S0383660F |
|
|
Address |
: |
75, MARINE DRIVE, 13-23, 440075, SINGAPORE. |
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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 |
CLIENTELE
|
No data found in our databank.
OPERATIONS
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) general wholesale
trade.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
605A, MACPHERSON ROAD # 05-07, CITIMAC
INDUSTRIAL COMPLEX, SINGAPORE - 368240 |
|
Current Address |
: |
N/A |
|
Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject and its Directors.
We also unable to contact the Subject's Company Secretary.
We found contact number for the Subject at 63430105 but it is invalid.
We were unable to verify the address provided.
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 : |
TRADING |
|
According to the Ministry of Trade and
Industry, the wholesale & retail trade sector expanded to 3.0% in the
fourth quarter of 2017, moderating from the 3.3% growth in the previous quarter.
The wholesale trade segment was boosted by an improvement in foreign
wholesale sales volume, which more than offset the weakness in domestic
wholesale sales volume. For the whole of 2017, the sector expanded by 2.3%,
faster than the 1.0% growth in 2016. The improvement in growth can be
attributed to the wholesale segment. |
|
|
The domestic wholesale sales volume fell by
1.1% in the fourth quarter 2017, reversing the 2.0% growth in the preceding quarter.
The poorer outturn was led by declines in the sales volume of household
equipment & furniture (-27%) and general wholesale merchandise (-19%),
which outweighed the increase in the sales volume of telecommunications &
computers (20%). For the whole of 2017, the domestic wholesale trade index
expanded by 1.0%, a turnaround from the 2.7% decline in 2016. |
|
|
On the other hand, foreign wholesale sales
volume rose to 6.2% in the fourth quarter 2017, a step-up from the 5.1%
growth in the preceding quarter. Growth was driven by expansions in the sales
of petroleum & petroleum-related products (11%t), telecommunications
& computers (19%) and electronic components (16%). However, growth was
partly offset by a 20% decline in the sales volume of metals, timber &
construction materials. For the full year 2017, the foreign wholesale trade
index rose by 3.6%, faster than the increase of 1.5% in the previous year. |
|
|
Besides, retail sales volume rose by 2.1%
in the fourth quarter 2017, improving from the 0.9% growth recorded in the
third quarter. Growth was supported by improvements in both motor vehicle and
non-motor vehicle sales volumes. While motor vehicle sales benefitted from an
on-year increase in COE supply, growth in non-motor vehicle sales came on the
back of an improvement in consumer sentiments. Notably, the sales volume of
discretionary goods such as recreational goods, computer &
telecommunication equipment and wearing apparel & footwear grew by 4.6%,
4.3 % and 3.1% respectively. |
|
|
For the full year 2017, retail sales volume
expanded by 1.3%, similar to the 1.5% growth recorded in 2016. Growth was
driven by both motor vehicle sales and non-motor vehicle sales, which the
former rising by 1.5% and the latter increasing by 1.3%. The rise in
non-motor vehicle sales was underpinned by higher sales of discretionary
goods. For instance, the sales volume of recreational goods (3.9%), watches
& jewellery (2.4%), computer & telecommunications equipment (1.7%)
and wearing apparel & footwear (1.5%) improved in 2017. |
|
|
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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
|
SGD |
1 |
INR 49.97 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.