MIRA
INFORM REPORT
|
Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
WENG YEANG HANG (MALAYSIA) SDN BHD |
|
|
|
|
Registered Office : |
44 Lebuh Ah Quee, 10200 Pulau Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
04/06/1996 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading in Foodstuff |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
* Adopted
abbreviations : SC - Subject Company ( the company enquired
by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 389226-X
COMPANY NAME : WENG YEANG HANG (MALAYSIA) SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 04/06/1996
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 44 LEBUH AH QUEE, 10200 PULAU PINANG,
PULAU
PINANG,
MALAYSIA.
BUSINESS ADDRESS : 34, GREEN HALL, 10200 PULAU PINANG,
PULAU PINANG,
MALAYSIA.
TEL NO : 04 - 2635808
FAX NO : 04 - 2635954
CONTACT PERSON : LEE CHIN TEONG (MANAGING DIRECTOR)
INDUSTRY CODE : 51239
PRINCIPAL ACTIVITY : TRADING IN FOODSTUFF
AUTHORISED CAPITAL : MYR100,000.00 DIVIDED INTO ORDINARY
SHARE 100,000
OF
MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR2.00 DIVIDED INTO ORDINARY SHARE 2
CASH OF
MYR1.00
EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 2
[2007]
BANKER (S) : PUBLIC BANK BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : WEAK
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : LOW
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : STRONG 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) trading in
foodstuff.
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 major shareholder(s) of the SC are shown as follows :
Name Address IC/PP/Loc
No: Shareholding
MR. LEE CHIN WAH + 35 LINTANG DELIMA 2, 11700 GELUGOR, 7124277 1
PULAU
PINANG, MALAYSIA. 630911-07-5983
MR. LEE CHIN TEONG + 430, JALAN AYER ITAM, 11400 PULAU PINANG, 5742459 1
PULAU
PINANG, MALAYSIA. 591228-07-5509
--------------------
2
===========
+ Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. LEE CHIN WAH
Address : 35 LINTANG DELIMA 2, 11700 GELUGOR,
PULAU PINANG, MALAYSIA.
IC / PP No. : 7124277
New IC No : 630911-07-5983
Date of Birth : 11/09/1963
Nationality : MALAYSIAN CHINESE
Date of Appointment : 04/06/1996
DIRECTOR 2
Name of Subject : MR. LEE CHIN TEONG
Address : 430, JALAN AYER ITAM, 11400 PULAU
PINANG, PULAU PINANG, MALAYSIA.
IC / PP No. : 5742459
New IC No : 591228-07-5509
Date of Birth : 28/12/1959
Nationality : MALAYSIAN CHINESE
Date of Appointment : 04/06/1996
DIRECTOR 3
Name of Subject : MS. KHOO SIEW HOON
Address : 35, LINTANG DELIMA 2, 11700 GELUGOR,
PULAU PINANG, MALAYSIA.
IC / PP No. : A0202366
New IC No : 650830-07-5410
Date of Birth : 30/08/1965
Nationality : MALAYSIAN CHINESE
Date of Appointment : 22/12/1997
MANAGEMENT
1) Name of Subject : LEE
CHIN TEONG
Position : MANAGING DIRECTOR
AUDITOR
No data was found in our databank
COMPANY SECRETARY
1) Company Secretary : MS.
FOO SIEW EAN
IC / PP No. : 3772807
New IC No. : 500220-08-6346
Address : 16, TINGKAT BUKIT KECIL 2, TAMAN SRI NIBONG, 11900
BAYAN
LEPAS, PULAU PINANG, MALAYSIA.
Date of Appointment : 04/06/1996
BANKING
Banking relations are maintained principally with :
1) Banker Name : PUBLIC
BANK BHD
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our investigation.
ENCUMBRANCE (S)
No encumbrance was found in our databank at the time of 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.
No winding up petition was found in our data bank
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Local : YES
Overseas : YES
CLIENTELE
Local : YES
Domestic Markets : MALAYSIA.
Overseas : YES
Export Market : ASIA.
Credit Term : 30 DAYS.
Payment Mode : CASH, CHEQUES.
Type of Customer : WHOLESALERS, RETAIL.
The SC concentrates on both local and overseas markets.
OPERATIONS
Goods Traded : SNACK FOODS SUCH AS DRIED FRUITS
& NUTS, DATTES,
RAISINS
& SULTANAS, DRIED APRICOTS, FIGS, DRIED PEAS &
BEANS,
CHICK PEAS, BROAD BEANS AND ETC
Competitor(s) : HARPERS TRADING (MALAYSIA) SDN BHD
LUN
HENG SDN BHD
MAGRI
FOODS SDN BHD
SUSHI
KIN SDN BHD
A
CLOUET & COMPANY (KUALA LUMPUR) SDN BHD
Ownership of premises : LEASED/RENTED
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 2
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 : 04-2635808
Match : N/A
Address Provided By Client : 34 GREEN HALL, 10200 PENANG MALAYSIA
Current Address : 34, GREEN HALL, 10200 PULAU PINANG,
PULAU
PINANG,
MALAYSIA.
Match : YES
Latest Financial Accounts : NO
Investigation :
We contacted the SC's Company Secretary, Ms. Foo Siew Ean 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 staff from Accounts
Department. 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 1996, the SC is principally engaged in the
trading of foodstuff. Over its years of establishment, the SC should have built
up its reputation in the market. However, we noted that the SC's paid up capital
stands at only RM2. This means that its creditors are only able to recover a
limited amount. The SC may face liquidity problem. Hence, caution is advised.
Besides catering to the local market, the SC also exports to
other countries in Asia. As it concentrates in both local and overseas markets,
we believe that the SC has the ability to lower its business risk to meet any uncertainties
in the local economy. Being a small company, the SC's business operation is
supported by 2 employees and overseen by its managing director, Lee Chin Teong.
No financial accounts are available for analysis. As such, we are not
able to comment on the SC’s current financial standing.
Investigation revealed that the SC's supplies are sourced from both
local and overseas suppliers.
Hence, the SC is subjected to currency fluctuation risk and high
operating costs.
Based on our databank, there are no legal suits against the SC.
This industry shows an upward trend and this trend is likely to sustain
in the near future. With the promising outlook of the industry performance, the
SC business potential should be favourable. The SC however faces moderate
business risk as it has to compete with many well established players in the
same field.
In view of the above, we only recommend a small amount of
credit be proceeded to the SC with 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%)