MIRA
INFORM REPORT
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Report Date : |
26.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AMBIGA PALAYACAT CO |
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Registered Office : |
2864-H (Pt 158) Jalan Tengku Petra Semerak, 15000 Kota Bharu, Kelantan |
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Country : |
Malaysia |
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Date of Incorporation : |
14 Apr 1965 |
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Legal Form : |
Partnership |
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Line of Business : |
Trading in Textiles |
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 : |
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 : 000117656-P
BUSINESS NAME : AMBIGA PALAYACAT CO
COMMENCEMENT DATE : 14 Apr 1965
REGISTRATION DATE : 11 Jun 1965
EXPIRY DATE : 22 Sep 2008
BUSINESS CONSTITUTION : PARTNERSHIP
BUSINESS ADDRESS : 2864-H (PT 158) JALAN TENGKU PETRA
SEMERAK, 15000
KOTA
BHARU, KELANTAN, MALAYSIA.
TEL NO : 09 - 7430121
FAX NO : 09 - 7430121
CONTACT PERSON : SUNDARARAMAN (OWNER)
INDUSTRY CODE : 51311
PRINCIPAL ACTIVITY : TRADING IN TEXTILES
STAFF STRENGTH : 4
[2007]
BANKER (S) : AFFIN BANK BERHAD
LITIGATION : CLEAR
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : MODERATE
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : DECLINING
HISTORY / BACKGROUND
The SC commenced its business on 14 Apr, 1965 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 in textiles.
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. SUNDARARAMAN A/L 5670-G, JALAN SRI CEMERLANG, KOTA 6054195 50
ARUMUGAM BHARU,
15300 KOTA BHARU, KELANTAN, 560709-71-5659
MALAYSIA.
MR. SOMANADHAN A/L PT
158, JALAN TENGKU PETRA SEMERAK, 8248172 50
ARUMUGAM KOTA
BHARU, 15000 KOTA BHARU, 600619-71-5069
KELANTAN,
MALAYSIA.
--------------------
100
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+ Also Director
OWNER (S)
OWNER 1
Name of Subject : MR. SUNDARARAMAN A/L ARUMUGAM
Address : 5670-G, JALAN SRI CEMERLANG, KOTA
BHARU, 15300 KOTA
BHARU,
KELANTAN, MALAYSIA.
IC / PP No. : 6054195
New IC No : 560709-71-5659
Date of Birth : 09/07/1956
Nationality : MALAYSIAN INDIAN
Date of Appointment : 01/03/1976
OWNER 2
Name of Subject : MR. SOMANADHAN A/L ARUMUGAM
Address : PT 158, JALAN TENGKU PETRA SEMERAK,
KOTA BHARU, 15000
KOTA
BHARU, KELANTAN, MALAYSIA.
IC / PP No. : 8248172
New IC No : 600619-71-5069
Date of Birth : 19/06/1960
Nationality : MALAYSIAN INDIAN
Date of Appointment : 01/03/1976
MANAGEMENT
1) Name of Subject : SUNDARARAMAN
Position : OWNER
BANKING
Banking relations are maintained principally with :
1) Banker Name : AFFIN
BANK BERHAD
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 : YES
Overseas : YES
Import Countries : INDIA.
CLIENTELE
Local : YES Percentage : 100%
Domestic Markets : MALAYSIA.
Overseas : NO Percentage : 0
%
Credit Term : AS AGREED.
Payment Mode : CASH, CHEQUES.
Type of Customer : RETAIL, WALK IN CUSTOMERS.
OPERATIONS
Goods Traded : TEXTILES
Competitor(s) : D.R. BINWANI & CO
GOODWILL
TRADING CO
TOH
CHUAN BEE
LADY
JANE BOUTIQUE
SYARIKAT
HOE HENG
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 4
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 : 006097430121
Current Telephone Number : 09-7430121
Match : YES
Address Provided By Client : 2864-H (PT 158) JALAN TENGKU PETRA
SEMERAK
15000
KOTA BAHU KELANTAN
Current Address : 2864-H (PT 158) JALAN TENGKU PETRA
SEMERAK,
15000
KOTA BHARU, KELANTAN, MALAYSIA.
Match : YES
Other Investigations
We conducted an interview with the SC's Owner, Mr. Sundararaman. He revealed some relevant 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
Formed in 1965 as a partnership, the SC is principally engaged in
trading of textiles. Having been in the market for over three decades, the SC
should have established its own image and reputation over times.
Due to its long established, the SC should have built up a wide and
stable clientele base in the market. The SC's major concentration is on the
domestic market. Such narrow market segment limits the business expansion
opportunities of the SC. However, with its vast business experience in the
industry, the SC's exposure to business risk has well diversified. Currently,
the business activities of the SC are overseen by the owner, Sundararaman
supported by 4 employees in its operations. The SC's overall management
capability can be considered 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.
The SC's suppliers are obtained from local and overseas suppliers. Thus,
it eliminates the risk of dependency on deliveries from a number of key
suppliers and shortage of its supplies.
The SC is clear of any litigation.
The industry demonstrates a downward trend in the near term. The
immediate outlook of the industry is unfavourable and it might impair the
business performance of the SC. As the
market competition is tight, the SC should adopt more competitive strategies in
order to retain its market position and compete with other players in the same
field.
In view of the above, we only 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%)