MIRA
INFORM REPORT
|
Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
HEARTFIELDS SDN BHD |
|
|
|
|
Registered Office : |
18-2, Jalan 2/131a, Projek Jaya Industrial Estate, Batu 6, Jalan Kelang
Lama, 58200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21/04/1997 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Retailing of Jewellery, Silver Product, |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
* Adopted abbreviations : SC - Subject Company ( the company enquired by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 428262-P
COMPANY NAME : HEARTFIELDS SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 21/04/1997
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 18-2, JALAN 2/131A, PROJEK JAYA
INDUSTRIAL ESTATE,
BATU
6, JALAN KELANG LAMA, 58200
WILAYAH
BUSINESS ADDRESS : WISMA UOA II, LEVEL 17,
PINANG,
50450
TEL NO : 03 - 21668478
FAX NO : 03 - 21668019
CONTACT PERSON : AU YEONG WAI LENG (DIRECTOR)
INDUSTRY CODE : 52392
PRINCIPAL ACTIVITY : RETAILING OF JEWELLERY, SILVER
PRODUCT,
GIFT
AND PROMOTIONAL ITEM
AUTHORISED CAPITAL : MYR500,000.00 DIVIDED INTO ORDINARY
SHARE 500,000
OF
MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR500,000.00 DIVIDED INTO ORDINARY
SHARE 500,000
CASH
OF MYR1.00 EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 6
[2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : HIGH
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : AVERAGE GROWTH
HISTORY / BACKGROUND
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act,
1965 and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) retailing of
jewellery, silver product, crystal, gift and promotional item.
The SC is not listed on
The SC is not qualified to be one of the Top Corporate Performers in the
The major shareholder(s) of the SC are shown as follows :
Name Address IC/PP/Loc
No:
Shareholding
MR. ANDREW SAW JIN SUAN +38, JALAN SEMANTAN 2, BUKIT DAMANSARA, A1095973 350,000
50490
MR. DONALD SAW KENG HUATA -17-1, CONDOMINIUM KEN DAMANSARA, 217 1454760 150,000
@ DONALD SAW + JALAN
SS 2/72, 47300 PETALING JAYA, 430215-01-5315
--------------------
500,000
===========
+
Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. ANDREW SAW JIN SUAN
Address : 38, JALAN SEMANTAN 2, BUKIT
DAMANSARA, 50490 KUALA
LUMPUR, WILAYAH
IC / PP No. : A1095973
New IC No : 680930-10-6461
Date of Birth : 30/09/1968
Nationality : MALAYSIAN CHINESE
Date of Appointment : 21/04/1997
DIRECTOR 2
Name of Subject : MR. DONALD SAW KENG HUAT @ DONALD SAW
Address : A-17-1, CONDOMINIUM KEN DAMANSARA,
217 JALAN SS 2/72,
47300
PETALING JAYA,
IC / PP No. : 1454760
New IC No : 430215-01-5315
Date of Birth : 15/02/1943
Nationality : MALAYSIAN CHINESE
Date of Appointment : 21/04/1997
DIRECTOR 3
Name of Subject : MS. AU YEONG WAI LENG
Address : 38, JALAN SEMANTAN 2, BUKIT
DAMANSARA, 50490 KUALA
LUMPUR,
WILAYAH
IC / PP No. : A1258456
New IC No : 690426-10-5020
Date of Birth : 26/04/1969
Nationality : MALAYSIAN CHINESE
Date of Appointment : 08/04/1998
MANAGEMENT
1) Name of Subject : AU
YEONG WAI LENG
Position : DIRECTOR
2) Name of Subject : ANDREW
SAW
Position : DIRECTOR
AUDITOR
Auditor : LEONG HO & ASSOCIATES
Auditors' Address : 83B, JALAN SS 15/5A, 47500 SUBANG
JAYA,
COMPANY SECRETARY
1) Company Secretary : MR.
FOONG KENG YIP
IC / PP No. : 1075304
New IC No. : 450727-08-5163
Address : 11, JALAN BK 2/13A, BANDAR KINRARA, 47100 PUCHONG,
Date of Appointment : 21/04/1997
2) Company Secretary : MS.
POH SIEW MENG
IC / PP No. : 5794712
New IC No. : 591205-10-6464
Address : 40, JALAN SG 8/2, TAMAN SRI GOMBAK, 68100
Date of Appointment : 21/04/1997
BANKING
Banking relations are maintained principally with :
1) Banker Name : MALAYAN
BANKING BHD
The SC enjoys normal banking routine with above mentioned banker(s).
The SC has bank charges with above mentioned banker(s).
ENCUMBRANCE (S)
ENCUMBRANCE 1
Date of Creation : 03 Apr 2001
Description of Charge : N/A
Amount Secured : RM 300,000.00
Description of Property Affected : N/A
Name & Address of Chargee : MALAYAN BANKIGN BHD
Form 40 Dated
Registered and Numbered 1 In The
Register of Charges
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
back dated since 1900.
No legal action was found in our databank.
No winding up petition was found in our data bank
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Local : NO Percentage : 0
%
Overseas : YES Percentage : 100%
Import Countries :
CLIENTELE
Local : YES Percentage : 100%
Domestic Markets : PENINSULAR
Overseas : NO Percentage : 0
%
Credit Term : AS AGREED.
Payment Mode : CASH, CHEQUES.
Type of Customer : WALK IN CUSTOMERS.
OPERATIONS
Goods Traded : SILVER PRODUCTS, JEWELERIES,
Competitor(s) : TOMEI CONSOLIDATED BHD
WOO
HING BROTHERS (
PAJAK
GADAI THYE FOH SDN BHD
CHOPARD
(
TIME
GALERIE (M) SDN BHD
Total Number of Employees :
YEAR 2007 2006 2005 2004
GROUP N/A N/A N/A N/A
COMPANY 6 4 5 5
Branch : NO
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 : 603 21668478
Current Telephone Number : 03-21668478
Match : YES
Address Provided By Client :
JALAN
PINANG,
PERSEKUTUAN
50450
Current Address : WISMA UOA II,LEVEL 17,
JALAN
PINANG, 50450
Match : YES
Latest Financial Accounts : NO
Investigation :
We contacted the SC's Company Secretary, Ms. Poh Siew Meng for the
latest financial accounts. However she rejected our request in view of the
confidentiality of the information.
Other Investigations
We conducted an interview with one of the SC's Sales staff. She revealed
some relevant information on the SC.
FINANCIAL COMMENTS
No latest financial accounts are available at the Registry Office, thus
we are not able to comment on the SC's financial performance.
COMMENTS
Incorporated in 1997, as a private limited company, the SC is
principally engaged in the retailing of jewellery, silver products, crystal,
gift and promotional items. Having been in the industry for more than a decade,
the SC should have established relationship with its clients and suppliers.
With a small paid up capital of RM500,000, the SC's business position in the
market is normal.
The SC's commercial risk is high as it only focuses in one type of
business and it does not have any branches and sells only to the local markets.
Its business expansion opportunities is low and its growth prospect is also
limited. It should expand its business in order to compete with other
competitors. The SC remains a small sized company and employs only 6 staff at
its business address. Overall, its management capability is average.
We are unable to comment on the SC's financial standing due to
unavailability of its latest financial accounts.
We noted that the SC sources its jewellery and crystals from overseas
countries like
Based on our database, the SC is clear of litigation.
The industry shows an upward trend and this trend is very likely to
sustain in the near term. With the promising outlook of the industry
performance, the SC should be able to further enhance its business in the near
term. Being a small entity, the SC faces stiff competition from other well
established players in the same field.
In view of the above, we recommend credit be granted to the SC under
guarantee.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)