MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
REGAL STAR SDN BHD |
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Registered Office : |
Uptown 1, 1 Jalan Ss 21/58, Damansara Uptown, Level, 14, 47400
Petaling Jaya, Selangor, |
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Country : |
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Date of Incorporation : |
11/12/2000 |
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Legal Form : |
Exempt Private Company |
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Line of Business : |
Trading of Diamond and other Ornaments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
EXECUTIVE SUMMARY
COMPANY NAME :
REGAL STAR SDN BHD
FORMER NAME :
N/A
INCORPORATION DATE :
11/12/2000
COMPANY STATUS :
EXIST
LEGAL STATUS :
EXEMPT PRIVATE COMPANY
LISTED STATUS :
NO
REGISTERED ADDRESS :
UPTOWN 1, 1 JALAN SS 21/58, DAMANSARA UPTOWN, LEVEL
14, 47400 PETALING JAYA,
BUSINESS ADDRESS :
PLAZA
KIARA,
50480
TEL NO :
03 - 62042600
FAX NO :
03 - 62042601
CONTACT PERSON :
SARJAK PRAVIN SHAH (EXECUTIVE DIRECTOR)
INDUSTRY CODE :
52392
PRINCIPAL ACTIVITY :
TRADING OF DIAMOND AND OTHER ORNAMENTS
AUTHORISED CAPITAL :
MYR5,000,000.00 DIVIDED INTO ORDINARY SHARE 5,000,000 OF
MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL :
MYR2,146,538.00 DIVIDED INTO ORDINARY SHARE 2,146,538
CASH OF MYR1.00 EACH.
SALES :
N/A
NET WORTH :
N/A
STAFF STRENGTH :
3 [2007]
BANKER (S) :
ABN AMRO BANK BHD
LITIGATION :
CLEAR
FINANCIAL CONDITION :
N/A
PAYMENT :
N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK :
HIGH
CURRENCY EXPOSURE :
MODERATE
GENERAL REPUTATION :
SATISFACTORY
INDUSTRY OUTLOOK :
AVERAGE GROWTH
HISTORY / BACKGROUND
The SC is an exempt private company which is allowed to have a minimum
of two and a maximum of twenty shareholders and all the shareholders must be
individuals. An exempt company is a type of private limited company. 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,
suing or be sued by other companies. The SC is governed by the Companies Act,
1965 and must file in its annual return. The SC need not file in its financial
statements but it has to file in a document duly signed by its director in
charge of its finance, the secretary and its auditor stating that the SC is able
to meet all its obligations as and when they fall due. Although the SC is not
required to file in its financial statements, it also has to prepare its
financial account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a / as an) trading of diamond
and other ornaments. 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
SARJAK PRAVIN SHAH + 130-14-1,
10250
PULAU PINANG, PULAU
MS. AZINA BINTI SHAIK ALI 23-12-8,
DESA RAHMAT, JALAN RELAU, 11900 A0409600 643961
AKBAR + BAYAN
LEPAS, PULAU
MR. AMISH GUNVANTRAI 725-U,
JALAN SUNGAI DUA, 11700 GELUGOR, A2093950 407,843
PATEL + PULAU
DIPTI SARJAK SHAH + 130-14-1,
10250
PULAU PINANG, PULAU
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2,146,538
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DIRECTORS
DIRECTOR 1
Name of Subject : SARJAK
PRAVIN SHAH
Address :
130-14-1,
IC / PP No. :
Z1477687
Nationality :
N/A
Date of Appointment :
11/12/2000
DIRECTOR 2
Name of Subject : MS.
AZINA BINTI SHAIK ALI AKBAR
Address :
23-12-8, DESA RAHMAT, JALAN RELAU, 11900 BAYAN LEPAS, PULAU
IC / PP No. :
A0409600
New IC No :
660412-07-5484
Nationality :
MALAYSIAN MALAY
Date of Appointment :
31/03/2006
DIRECTOR 3
Name of Subject : MR.
AMISH GUNVANTRAI PATEL
Address :
725-U, JALAN SUNGAI DUA, 11700 GELUGOR, PULAU
IC / PP No. :
A2093950
New IC No :
720102-07-5253
Nationality :
MALAYSIAN OTHER
Date of Appointment :
22/12/2000
DIRECTOR 4
Name of Subject : DIPTI
SARJAK SHAH
Address :
130-14-1,
IC / PP No. :
F4219959
Nationality :
N/A
Date of Appointment :
11/12/2000
DIRECTOR 5
Name of Subject : MR.
GUNVANTRAI A/L NARBHERAM PATEL
Address :
130-14-1, GURNEY VILLA,
IC / PP No. :
N/A
New IC No :
400914-71-5073
Nationality :
MALAYSIAN OTHER
Date of Appointment :
22/12/2000
MANAGEMENT
Name of Subject : SARJAK
PRAVIN SHAH
Position :
EXECUTIVE DIRECTOR
AUDITOR
No data was found in our databank
COMPANY SECRETARY
Company Secretary : MS. NG
YEN HOONG
IC / PP No. :
A0769395
New IC No. :
670904-10-5060
Address :
42A, JALAN PJU 3/18H, DAMANSARA INDAH RESORT HOMES, 47410 PETALING
JAYA,
Date of Appointment :
01/09/2003
Company Secretary : MS. WONG
PEIR CHYUN
IC / PP No. :
A1935519
New IC No. :
710824-10-5806
Address :
15, SOLOK NONA, OFF JALAN MERU, 41050 KLANG,
Date of Appointment :
09/04/2004
BANKING
Banking relations are maintained principally with :
Banker Name : ABN AMRO BANK 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 : 10
Jun 2002
Description of Charge :
N/A
Amount Secured :
RM 160,000.00
Description of Property Affected :
N/A
Name & Address of Chargee :
ABN AMRO BANK 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
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 :
YES
Overseas :
YES
Import Countries :
EUROPE , ASIA ,
CLIENTELE
Local :
YES Percentage : 100%
Domestic Markets :
Overseas : NO Percentage : 0 %
Credit Term :
N/A.
Payment Mode : CASH ,
CHEQUES.
Type of Customer : END
USERS .
OPERATIONS
Goods Traded : DIAMOND AND OTHER
ORNAMENTS
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
GROUP N/A
COMPANY 3
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 :
N/A
Current Telephone Number :
03-62042600
Match :
N/A
Address Provided By Client :
E-11-02, PLAZA
Current Address :
PLAZA
KIARA, 50480
Match :
YES
Latest Financial Accounts :
NO
Investigation :
--
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts.
However they have rejected our request in view of the confidentiality of
the documents.
Other Investigations
On 14th August 2007 we contacted one of the SC's Director, Mr Sarjak
Pravin Shah. He furnished some information on the SC.
FINANCIAL COMMENTS
The SC is a private exempt company which does not need to file in its
accounts with the Registrar of Companies for the information of the public.
Therefore, we are not able to comment on the SC's financial performance.
COMMENTS
Incorporated in 2000, the SC is principally engaged in trading of
diamond and other ornaments. The SC is an exempt private company with total paid
up capital of RM2.14million. Throughout its years of establishment, the SC has
developed a satisfactory reputation in the market.
Being a small and young company, the SC has slowly been building up
contacts with its customers. Information revealed that the SC solely focuses on
domestic market. Hence, the SC is likely to be exposed to higher commercial
risk compared to export oriented companies. We believe that any uncertainties
in the local economy will greatly affect the business performance of the SC.
Presently, the SC is overseen by executive director, Sarjak Pravin Shah
supported by 3 employees in its business operations. Overall, the SC's
management capability is considered good.
The SC is a private exempt company which does not need to file in its
accounts with the Registrar of Companies for the information of the public.
Therefore, we are not able to comment further on the SC's financial
performance.
Besides obtaining its resources locally, the SC also imports from
overseas market such as Europe and
The SC is clear of any litigation.
The industry shows an upward trend and the trend is likely to sustain in
the near term. However, the SC's business performance is greatly depending on
the consumers' spending power on luxury goods such as diamond. With the
promising outlook of the industry performance, the SC should adopt more
competitive strategies in order to capture higher market shares as well as
compete with other long established players in the same field.
In view of the above, we recommend credit be granted to the SC under
reliable 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. |
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%)