MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
PERNIAGAAN SONG CHENG |
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Registered Office : |
No 54, Jalan Leban, Taman Makmur, 83000 Batu Pahat, Johor |
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Country : |
Malaysia |
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Date of Incorporation : |
23 Mar 1990 |
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Com. Reg. No.: |
JM0146035-W |
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Legal Form : |
Partnership |
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Line of Business : |
Trading of Coffee Beans, Cocoa, Nuts & Others. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
* Adopted
abbreviations : SC - Subject Company ( the company enquired
by you)
N/A - Not
Applicable
EXECUTIVE SUMMARY
REGISTRATION NO : JM0146035-W
BUSINESS NAME : PERNIAGAAN SONG CHENG
COMMENCEMENT DATE : 23 Mar 1990
REGISTRATION DATE : 29 Mar 1990
EXPIRY DATE : 20 Oct 2009
BUSINESS CONSTITUTION : PARTNERSHIP
BUSINESS ADDRESS : NO 54, JALAN LEBAN, TAMAN MAKMUR, 83000
BATU PAHAT,
JOHOR,
MALAYSIA.
TEL NO : 07 - 4330144
FAX NO : 07 - 4321053
CONTACT PERSON : ANG POI POON (MANAGING DIRECTOR)
INDUSTRY CODE : 51239
PRINCIPAL ACTIVITY : TRADING OF COFFEE BEANS, COCOA, NUTS
& OTHERS
STAFF STRENGTH : 5
[2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : HIGH
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : AVERAGE GROWTH
HISTORY / BACKGROUND
The SC commenced its business on 23 Mar, 1990 as a PARTNER.
The SC is a partnership firm registered under the Business Registration
Act. The partners liabilities are unlimited, that is, if the partnership is not
able to meet its obligations, the partners have to be personally liable for the
debts incurred. The SC's ownership is transferable with consent of the other
partners. The SC as a partnership firm is governed by the Partnership Act. The
SC is not required to file in its financial statements with the Registry of
Business.
The SC is principally engaged in the (as a / as an) trading of coffee
beans, cocoa, nuts & others.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The SC is not qualified to be one of the Top Corporate Performers in the
Malaysia 1000 (M1000) publication, a directory jointly published by Companies
Commission of Malaysia (The Registrar Office), Minister
of Domestic Trade and Consumer Affairs and our publication arm, BASIS
Publications House Sdn Bhd.
The owner of the SC are as follows :
Name Address IC/PP/Loc
No: Shareholding
MR. ANG POI POON 39,
JALAN MERSAWA, TAMAN BATU PAHAT, 4610595 50
83000
BATU PAHAT, JOHOR, MALAYSIA. 530803-01-5141
MR. LOK CHEE HWEE BATU
1 1/2, JALAN MINYAK BEKU, 83000 BATU 4794619 50
PAHAT, JOHOR, MALAYSIA. 550412-01-5775
--------------------
100
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+ Also Director
OWNER (S)
OWNER 1
Name of Subject : MR. ANG POI POON
Address : 39, JALAN MERSAWA, TAMAN BATU PAHAT,
83000 BATU PAHAT,
JOHOR,
MALAYSIA.
IC / PP No. : 4610595
New IC No : 530803-01-5141
Date of Birth : 03/08/1953
Date of Appointment : 13/02/1992
OWNER 2
Name of Subject : MR. LOK CHEE HWEE
Address : BATU 1 1/2, JALAN MINYAK BEKU, 83000
BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No. : 4794619
New IC No : 550412-01-5775
Date of Birth : 12/04/1955
Date of Appointment : 23/03/1990
MANAGEMENT
1) Name of Subject : ANG
POI POON
Position : MANAGING DIRECTOR
BANKING
Banking relations are maintained principally with :
1) Banker Name : MALAYAN
BANKING BHD
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our investigation.
LEGAL CHECK AGAINST
THE SC
* A check has been conducted in our databank against the SC whether the subject has been involved in
any
litigation. Our databank consists of 99% of the wound up companies in Malaysia back dated since
1900.
No legal action was found in our databank.
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Local : NO Percentage : 0
%
Overseas : YES Percentage : 100%
Import Countries : ASIA.
The SC refused to furnish us with the suppliers' names. Without the
financial accounts, we are not able to comment on the SC's payment habit.
CLIENTELE
Local : YES Percentage : 100%
Domestic Markets : MALAYSIA.
Overseas : NO Percentage : 0
%
Credit Term : 30 DAYS.
Payment Mode : CHEQUES , CASH.
Type of Customer : RETAIL .
OPERATIONS
Goods Traded : COFFEE BEANS, COCOA, NUTS &
OTHERS
Competitor(s) : SRI MAJU JAYA TRADING
K.P
MOHAMED KASSIM
CHOP
SIANG HENG
HIUNG
THAI TRADING
LEAN
KEE CHAN
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 5
Branch : NO
Other Information :
The SC is principally engaged in the (as a / as an) trading of coffee beans,
cocoa, nuts & others.
RECENT DEVELOPMENT
We have checked with the Malaysian National News Agency's (BERNAMA) database, but no latest
development was noted in our investigation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
Telephone Number Provided By Client : 07-4330144
Current Telephone Number : 07-4330144
Match : YES
Address Provided By Client : NO 54, JALAN LEBAN, TAMAN MAKMUR,
83000
BATU
PAHAT, JOHOR
Current Address : NO 54, JALAN LEBAN, TAMAN MAKMUR,
83000
BATU
PAHAT, JOHOR, MALAYSIA.
Match : YES
Other Investigations
On 13th April 2007, we conducted an interview with the SC's Managing
Director, Mr Ang. He furnished us some information on the SC.
FINANCIAL COMMENTS
We are unable to comment on the SC financial position as the SC is not
required by the law to file its financial statement in the Registrar of
Business.
COMMENTS
Established in 1990, the SC is principally engaged in the trading of
coffee beans, cocos, nuts and others. Having been in the industry for more than
one decade should have enabled the SC to gain market and established rapport
with its clients.
The SC mainly supplies to the local market. This narrow market segment
limits the business expansion opportunities and lowers growth prospects. The
business risk is high. The market segment is small and overseen by Ang Poi
Poon. Overall the management capability of the SC can be regarded as average.
As the SC is registered as a partnership, its financial statements are
not available for analysis. As such, we are unable to ascertain the SC's
financial strength. The SC's ability to meet obligations is very much dependent
on the partner's financial strength.
Our check revealed that the SC's supplies are 100% sourced from overseas
countries. As an imported oriented company, its forex exposure is high. A small
movement in currency exchange rates would result in a change in operating
profit or costs.
The SC is clear of litigation.
The rising population, improvement in quality of life and higher
propensity to consume will further increase the demand for food products. These
factors provided the SC with the necessary foundation to maintain its business.
In view of the above we recommend credit be granted to the SC with
guarantee.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)