Singapore Real Case (S)

Order Details
ORDER NUMBER REPORT TYPE: FULL REPORT

ORDER DATE DELIVERY DATE Nov 28, 2023 / 1:29:06 PM
SERVICE:
 BUSINESS HIGHLIGHTS
IDENTIFICATION
Company Name Country/Jurisdiction
XXXXX FASTENING SYSTEMS PTE LTD Singapore

Legal Form SkyMinder Legal Form
Exempt Private Company Limited By Shares Private Limited Company

Operating Address
XXXXXXXXXXXXXXX, XX, XXXXXXXX LINK BUILDING, 06, 80, 757695, Singapore

Unique Entity Number
19960XXXXX
HIGHLIGHTS
SkyMinder Risk Grade 5 High risk
Score Tranche E Very High Risk
Non-Financial Score 559
SkyMinder semaphore
red
Credit limit No recommendation
Company status ACTIVE
SkyMinder Company status Active
Presence of Adverse Data Negative information is known to us
Primary Business Industry SIC - 3452 - Fabricated Metal Products - BOLTS, NUTS, RIVETS, AND WASHERS
NACE 34.52 - Fabricated Metal Products - BOLTS, NUTS, RIVETS, AND WASHERS
Activity Code 3452 - Fabricated Metal Products - BOLTS, NUTS, RIVETS, AND WASHERS - SIC
2391 - Apparel and Other Textile Products - CURTAINS AND DRAPERIES - SIC
 RISK ASSESSMENT
RISK EVALUATION
Score Tranche E Very High Risk
SkyMinder Risk Grade 5
SkyMinder semaphore
red
Non-Financial Score 559
Credit Limit No recommendation
Risk Evaluation Scores

Credit Limit
Name Credit Limit
06.12.2023 - SkyMinder
Value No recommendation
Rating
Name Score Tranche
Value Very High Risk
Score
Name Non-Financial Score
Value 559
Additional Info Strengths: The company is an established business.

Strengths: The business has recorded low churn of directors.
Weaknesses: Business has comparatively low capital subscribed.
Weaknesses: The business has a relatively low number of shares.
Weaknesses: Business has limited size of management board.
Weaknesses: Share price is less than the average share price in the market.
PAYMENT INFORMATION
Payment practise
Type OTHER
Description Credit Terms
Additional Info Credit Terms Application: Open Account

Credit Type: Local & International Purchase
Net Days From: 0
Net Days To: 30
Payment practise
Type OTHER
Description Credit Terms
Additional Info Credit Terms Application: Open Account

Credit Type: Local & International Sales
Net Days From: 0
Net Days To: 30
 RELEVANT EVENTS
NEGATIVE EVENTS
Legal Procedures
Legal Procedures Event type: CHARGES

Register number: C201511559
Subject Type: UNKNOWN

Name: DBS BANK LTD.
Dates Charge Date: Oct 07, 2015
Additional Info
Other Info
All Monies


Name: DBS BANK LTD.
Dates Charge Date: May 10, 2013
Additional Info
Other Info
All Monies
page 2 of 11


Name: UNITED OVERSEAS BANK LIMITED
Dates Charge Date: Jul 05, 2011
Additional Info
Other Info
All Monies

Register number: 200201237

Dates Charge Date: Mar 14, 2002
Additional Info
Other Info
All Monies


Dates Charge Date: Jan 22, 2015
Additional Info
Other Info
All Monies


Additional Info
Other Info
All Monies


Dates Charge Date: May 29, 2003
Additional Info
Other Info
All Monies


Dates Charge Date: Mar 29, 2006
Additional Info
Other Info
page 3 of 11
All Monies


Dates Charge Date: Nov 20, 2018
Additional Info
Other Info
All Monies


Additional Info
Other Info
All Monies
HISTORICAL AND LEGAL EVENTS

DATES
Dates Company Unit Operational Status Effective Date: Sep 09, 1996
 FINANCIAL INFORMATION
ADDITIONAL INFO
Other Financial Information
All incorporated companies in Singapore are required to file financial statements to the regulator, except for those which are exempted. Since the Company is exempted, details on
the financial condition are unavailable.
For additional information, the Company's payment manner is Undetermined.
CAPITALS
Paid-up Capital
Type: PAID_UP_CAPITAL
Amount Value: 200,000 SGD

Currency: SGD
Currency Description: Singapore Dollar
Issued Capital
Type: ISSUED_CAPITAL
Amount Value: 200,000 SGD

Currency: SGD
Currency Description: Singapore Dollar
 BUSINESS MANAGEMENT
BUSINESS MANAGEMENT
Current
Mr NG KIOH HONG
page 4 of 11
Type: PERSON
Identifiers Personal ID Number: XXXX7754F
Additional Info Nationality: Singapore
Function: Secretary Start Date: Sep 09, 1996

Is Active: yes
Position Status: Current
Position Priority: 156
Mr LEE HO KIM
Type: PERSON
Identifiers Personal ID Number: XXXX1728Z
Function: Director Start Date: Sep 09, 1996

Is Active: yes
Mr FONG MUN HIN

Type: PERSON
Identifiers Personal ID Number: XXXX1744E
Function: Director Start Date: Sep 09, 1996

Is Active: yes
 BUSINESS RELATIONSHIPS
SHAREHOLDERS
Current
FONG MUN HIN
Type: PERSON
Function: Voting Shares Is Active: yes
Capital share percentage 65.00%
Ownership XXXX FASTENING SYSTEMS PTE
Capital share number LTD

130,000
Additional Info
Share Status
Current
LEE HO KIM
Type: PERSON
Function: Voting Shares Is Active: yes
Capital share percentage 35.00%
Ownership XXXX FASTENING SYSTEMS PTE
Capital share number LTD

70,000
Additional Info
Share Status
Current
 ACTIVITY FEATURES
page 5 of 11
ACTIVITY/ OPERATIONS
Employees
Description Current
Dates Nov 28, 2023
Description Former
Dates Nov 09, 2022
Description Former
Amount Total Employees Quantity (Estimated): 10
Dates Nov 11, 2021
Description Former
Dates Nov 16, 2020
Description Former
Dates Dec 31, 2019
BRANCH
PT SAHABAT SEJATI XXXXXX
Description Affiliate
XXXX FASTENING CO., LTD.

XXXX FASTENING SYSTEMS SDN BHD

Import
IMPORT
Countries Germany
Additional Info
HS
Buttons, press-fasteners, snap-fasteners and press-studs, button moulds and other parts of these articles; button blanks
IMPORT
Countries Japan
Additional Info
HS
IMPORT
Countries Hong Kong
Additional Info
HS
IMPORT
page 6 of 11
Countries China
Additional Info
HS
IMPORT
Dates Reference Year: 2022
Other notes Products are imported
Export
EXPORT
Countries India
Additional Info
HS
Machinery; parts of machinery of heading no. 8422
EXPORT
EXPORT
EXPORT
Value 7,040,000 (Estimated) SGD
Additional Info
Local Customer Sales Percentage
1%
EXPORT
Additional Info
1%
EXPORT
Additional Info
1%
EXPORT
Additional Info
1%
Customer Suppliers
XXXXX XXXXXX INDIA PUNE PRIVATE LIMITED
Type CUSTOMER
Type: COMPANY
page 7 of 11
Local Customer(s)
Type CUSTOMER
Type: COMPANY
XXXXGiken Co., Ltd.

Type SUPPLIER
Type: UNKNOWN
Additional Info Nationality: Japan
Local Supplier(s)
Type SUPPLIER
Type: UNKNOWN
XXXXXXX XXXX Furniture Ltd.

Type SUPPLIER
Type: UNKNOWN
Additional Info Nationality: Hong Kong
XXXXGmbH & Co. KG

Type SUPPLIER
Type: UNKNOWN
Additional Info Nationality: Germany
International Supplier(s)
Type SUPPLIER
Type: UNKNOWN
Additional Info Nationality: China
Other information
Company Activities
Type ACTIVITY
Description Fabricated Metal Products - BOLTS, NUTS, RIVETS, AND WASHERS
Text 1st
Type ACTIVITY
Description Apparel and Other Textile Products - CURTAINS AND DRAPERIES
Text 2nd
Additional Info
SSIC
Manufacture of bolts, nuts, rivets, fasteners and screw machine products
SSIC Priority
1st
SSIC
Manufacture of curtains, pillow cases, bed sheets and bed spreads
SSIC Priority
2nd
Locations
Type OTHER
Description Leased
Additional Info
Premises Information
Operations office, Administrative office
Premises Location
page 8 of 11
Commercial area
Premises Proximity
An airport
Other Company Information

Type OTHER
Description Acronyms
Type PAID_UP_CAPITAL
Description Paid Up Capital
Type OTHER
Description Unit Type
Additional Info
Description
Headquarter
 ADDITIONAL INFORMATION
PRESS AND OTHER INFORMATION
Other information
Business Prospect
Type OTHER
Description Business Prospect
Text In 2023, the UOB Group projected due to external economic conditions that could hit the
manufacturing and services sector. UOB expected Singapore’s gross domestic product to
grow by 0.7% in 2023, which is closer to the lower end of its 0.5%-2.5% forecast range.
It is projected the US and European economies (which are key end markets for
Singapore) to enter into a recession in the next 6-12 months amidst aggressive monetary
policy tightening stance. This will directly impact the manufacturing and external-oriented
services sectors (such as wholesale trade, transport and finance & insurance).
In 2023, UOB projected Singapore’s manufacturing sector to contract by 5.4%, down from
a projected growth of 2.8% in 2022. This is largely due to the faltering electronics outlook
and weaker external demand.
Singapore's economy grew 0.7% year-on-year in the third quarter of 2023, faster than the
0.5% growth in the preceding quarter, according to advance estimates released by the
Ministry of Trade and Industry (MTI). On a quarter-on-quarter seasonally-adjusted basis,
the economy expanded by 1%, faster than the 0.1% growth in the preceding quarter.
The manufacturing sector contracted by 5% year-on-year in the third quarter of 2023,

compared with the 7.7% contraction in the previous quarter. he weak performance of the
sector was due to output declines across all the manufacturing clusters, except for the
transport engineering cluster. On a quarter-on-quarter seasonally-adjusted basis, the
sector grew by 0.2%, a turnaround from the 1.5% contraction in the second quarter.
Source: sbr.com.sg and channelnewsasia.com (processed)
Activity Comments
Type OTHER
Description Activity Comments
Text General Information
Based on its latest registry document, the principal activities of XXXX Fastening Systems
Pte Ltd (the Company) are (i) the manufacture of bolts, nuts, rivets, fasteners, and
screw machine products, and (ii) the manufacture of curtains, pillow cases, bed
sheets, and bedspreads.
Based on the investigation, the Company has been engaged in the wholesale of fastening
products since 1996. The Company offers various products, such as bolt tensioners,
clinching fasteners, Keensert, inserts, locking systems, magnetic filtration, Nutsert tooling,
page 9 of 11
Nutserts pivot pins, quick-operating fasteners, riveting tools, rivets, tension latch, and
wedge locking washers.
Based on the Company's website, these products are also available with various brands,
such as Bollhoff, Bondura, Camloc, Gesipa, Growermetal, Dejond, Emka, Beschlagteile,
Heico-Lock, Kerb Konus, HBF, Takigen, Stanley, Anemo Engineering, Jetfast, Sweet
Tools, POP, One Eye Industries, and Asia Giken.
Based on collected information, the Company obtains most of these products from
overseas, such as China, Japan, Germany, and Hong Kong. The Company successfully
secured "Exclusive Distributorship" for many established manufacturers from all over the
world, such as in the USA, Italy, England, and Taiwan. However, the Company also
obtains a small portion of its products from local suppliers. Based on panjiva.com, on May
29, 2015, the Company imported 3,500 kg of fasteners from the principal in Hong Kong,
namely Hong Kong Monica Furniture Ltd.
Based on various sources, the Company's marketing area is mainly in the domestic
market to various industries, such as trading companies, telecommunication industry,
railway, automotive industry, electrical engineering industry, electronics, shipbuilding,
construction, plastic molding, die-cast, aerospace industry, and many others. The
Company is also indicated to export products to overseas customers. However, we could
not obtain information regarding the customers’ names. Based on volza.com and
importgenius.com, below is the information regarding the Company's export transactions:
on June 16, 2023, the Company exported 150,000 pieces of steel pop rivet to Trend
Technologies India Pune Private Limited (India)
on August 8, 2022, the Company exported 100,000 pieces of steel pop rivet to
Trend Technologies India Pune Private Limited (India)
on July 27, 2021, the Company exported 30,000 pieces of stainless-steel rivet to a
customer in Indonesia
Business Performance
In this ongoing Q4/2023, the Company is still actively operating. However, because the
Company's party was uncooperative, and due to the limited information from any source,
we could not obtain comprehensive information related to the Company's operational and
financial performance from 2021 to date.
Based on www.mti.gov.sg, Singapore’s total merchandise trade declined by 1.0% year-on-

year in Q4/2022, a reversal from the 25.7% growth in the previous quarter. At the same
time, total services trade increased by 7.0 percent year-on-year, extending the 12.5%
growth in the third quarter. For the whole of 2022, Singapore’s total merchandise trade
surged by 17.7% to SGD 1.4 trillion, from SGD 1.2 trillion in 2021. Oil trade expanded by
47.5% amidst higher oil prices compared to a year ago, while nonoil trade grew by 11.9%.
Merchandise exports and imports increased by 15.6% and 20.1% respectively. Total
services trade rose robustly by 10.8 percent to SGD 758 billion in 2022, from $684 billion
in 2021. Services exports and imports increased by 12.1% and 9.3% respectively in 2022.
Regarding the payments, our source refused to verify the current payment manner of the
Company. Based on our latest database as of November 2020, amid the COVID–19
pandemic situation, the Company had problems with late payments from its customers.
However, the Company could still make payments on time to its suppliers.
Earlier, based on our database, up to November 2020, the volume of demand from its
customers was still relatively low. The volume of demand from its customers has
decreased, especially since the COVID–19 pandemic. This decline was also caused by
the Circuit Breaker policy implemented by the Singapore Government, which forced
several customers to close and temporarily reduce their operational activities. Meanwhile,
the Company's operational and financial performance from 2016 to the end of 2019 had
improved. This was caused by high demand, especially from customers engaged in the
trading and automotive industry.
Additional Information
Based on sgpgrid.com, as of December 13, 2021, the Company is supported by around

1-10 employees.
For additional information, the Company is also actively participating in various expos
such as Malaysia's Manufacturing Exhibition (MYMEX) Johor 2018 on October 18, 2018,
to October 21, 2018, and Manufacturing Indonesia 2018 on December 5, 2018, to
December 8, 2018.
The Company has not been recorded on sanction lists on the Office of Foreign Assets
Control (OFAC) website.
Management Assessment
Type OTHER
Description Management Assessment
Text Based on our investigation, there were no negative issues related to the Management of
page 10 of 11
the Subject Company. The management of the Company is also considered to have
sufficient industry experience and expertise to manage the subject properly.
Based on our findings, the Company's management is indicated as not being a Politically
Exposed Person.
Authorized signature(s): The Board of Director(s) is obliged to obtain approval from a

shareholders meeting.
Legend
Non Financial Score Risk
Tranche Risk Score Risk Description

A 625 - HIGH Very Low Risk
B 612 - 624 Low Risk
C 599 - 611 Medium Risk
D 579 - 598 High Risk
E LOW - 578 Very High Risk
SkyMinder Risk Grade
1 No risk/very low risk

2 Low risk
3 Average risk
4 Above average risk
5 High risk
For any further explanations or information regarding this report, please write to
[email protected] or contact your local sales representative.
page 11 of 11

Singapore Real Case (S)

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Order Details

ORDER NUMBER REPORT TYPE: FULL REPORT

XXXXX FASTENING SYSTEMS PTE LTD Singapore

Exempt Private Company Limited By Shares Private Limited Company

XXXXXXXXXXXXXXX, XX, XXXXXXXX LINK BUILDING, 06, 80, 757695, Singapore

Score Tranche E Very High Risk

Non-Financial Score 559

Credit limit No recommendation

Company status ACTIVE

SkyMinder Company status Active

Presence of Adverse Data Negative information is known to us

SkyMinder Risk Grade 5

Non-Financial Score 559

Credit Limit No recommendation

Risk Evaluation Scores

Value Very High Risk

Additional Info Strengths: The company is an established business.

Description Credit Terms

Additional Info Credit Terms Application: Open Account

Description Credit Terms

Additional Info Credit Terms Application: Open Account

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Oct 07, 2015

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: May 10, 2013

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Jul 05, 2011

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Mar 14, 2002

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Jan 22, 2015

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Jan 21, 2015

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: May 29, 2003

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Mar 29, 2006

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Nov 20, 2018

Legal Procedures Event type: CHARGES

Subject Type: UNKNOWN

Dates Charge Date: Jan 21, 2015

HISTORICAL AND LEGAL EVENTS

Other Financial Information

For additional information, the Company's payment manner is Undetermined.

Amount Value: 200,000 SGD

Amount Value: 200,000 SGD

Identifiers Personal ID Number: XXXX7754F

Additional Info Nationality: Singapore

Function: Secretary Start Date: Sep 09, 1996

Identifiers Personal ID Number: XXXX1728Z