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MIRA INFORM REPORT
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Report No. : |
512836 |
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Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SAII RESOURCES PTE. LTD. |
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Registered Office : |
140, Paya Lebar Road, 06-22, Az @ Paya Lebar, 409015 |
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Country : |
Singapore |
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Date of Incorporation : |
15.08.2017 |
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Com. Reg. No.: |
201723073R |
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Legal Form : |
Exempt Private (Limited By Share) |
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Line of Business : |
The Subject is 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)
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MIRA’s Rating : |
NB |
|
Credit Rating |
Explanation |
Rating Comments |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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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 |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
201723073R |
|
COMPANY NAME |
: |
SAII RESOURCES PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
15/08/2017 |
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COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
140, PAYA LEBAR ROAD, 06-22, AZ @ PAYA LEBAR, 409015, SINGAPORE. |
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BUSINESS ADDRESS |
: |
N/A |
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TEL.NO. |
: |
N/A |
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FAX.NO. |
: |
N/A |
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CONTACT PERSON |
: |
N/A |
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PRINCIPAL ACTIVITY |
: |
GENERAL WHOLESALE TRADE |
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ISSUED AND PAID UP CAPITAL |
: |
1,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,000.00 |
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SALES |
: |
N/A |
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NET WORTH |
: |
N/A |
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STAFF STRENGTH |
: |
N/A |
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LITIGATION |
: |
CLEAR |
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FINANCIAL CONDITION |
: |
N/A |
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PAYMENT |
: |
Unknown |
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MANAGEMENT CAPABILITY |
: |
N/A |
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COMMERCIAL RISK |
: |
N/A |
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CURRENCY EXPOSURE |
: |
N/A |
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GENERAL REPUTATION |
: |
N/A |
|
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) general wholesale trade.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/03/2018 |
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 |
(%) |
|
ANDAVARAPU ASHOK KUMAR + |
APARTMEN TAMAN RASUNA, UNIT 1115B, RT/RW 002/010, KEL MENTEN
JAKARTA SELATAN, INDONESIA. |
Z3220258 |
1,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
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DIRECTOR 1
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Name Of Subject |
: |
NG SHI XIANG |
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Address |
: |
271C, PUNGGOL WALK, 04-535, PUNGGOL RESIDENCES, 823271,
SINGAPORE. |
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IC / PP No |
: |
S8627872C |
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Nationality |
: |
SINGAPOREAN |
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Date of Appointment |
: |
15/08/2017 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
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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 |
201723073R |
SAII RESOURCES PTE. LTD. |
Director |
15/08/2017 |
0.00 |
- |
- |
- |
- |
15/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
ANDAVARAPU ASHOK KUMAR |
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Address |
: |
APARTMEN TAMAN RASUNA, UNIT 1115B, RT/RW 002/010, KEL MENTEN
JAKARTA SELATAN, INDONESIA. |
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IC / PP No |
: |
Z3220258 |
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Nationality |
: |
INDIAN |
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Date of Appointment |
: |
15/08/2017 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
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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 |
201723073R |
SAII RESOURCES PTE. LTD. |
Director |
15/08/2017 |
1,000.00 |
100.00 |
- |
- |
- |
15/03/2018 |
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
AARON SAPPHIRE TRISNADI |
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IC / PP No |
: |
S8382893E |
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Address |
: |
111, BISHAN STREET 12, 09-160, BISHAN VIEW, 570111, 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 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
|
|
||
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SOURCES OF RAW MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
CLIENTELE
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No data found in our databank.
OPERATIONS
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|
Branch |
: |
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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 |
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Current Telephone Number |
: |
N/A |
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Match |
: |
N/A |
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Address Provided by Client |
: |
# 140, PAYA LEBAR ROAD, # 06-22, AZ2 PAYA LEBAR 409015 SINGAPORE
|
|
Current Address |
: |
N/A |
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Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject's and its Directors.
The address provided belongs to the Subject's registered office.
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. |
||||||
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Overall financial condition of the Subject : N/A |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
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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) |
|
|
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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 |
- |
- |
- |
|
|
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|
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 |
- |
|
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* 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
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
|
SGD |
1 |
INR 50.44 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.