MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
TEJANA TRADING CORP SDN BHD |
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Registered Office : |
Regent
Office Blk, 160 Jln Bkt Bintang, 5th Flr, 55100 Kuala Lumpur |
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Country : |
Malaysia
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
24/02/1981 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
-- |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Dormant
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
EXECUTIVE SUMMARY
LOCAL NO : 67808-A
COMPANY
NAME : TEJANA TRADING CORP SDN BHD
FORMER
NAME : MITSUI & CO (MALAYSIA) SDN BHD
(22-11-1986)
INCORPORATION
DATE : 24/02/1981
COMPANY
STATUS : EXIST
LEGAL
STATUS : PRIVATE LIMITED COMPANY
LISTED
STATUS : NO
REGISTERED
ADDRESS : REGENT OFFICE BLK, 160 JLN BKT
BINTANG, 5TH
FLR,
55100 KUALA LUMPUR.
BUSINESS
ADDRESS : N/A, MALAYSIA.
TEL NO : N/A
FAX NO : N/A
CONTACT
PERSON : N/A
INDUSTRY
CODE : 0
PRINCIPAL
ACTIVITY : DORMANT
AUTHORISED
CAPITAL : 2,000,000.00 DIVIDED INTO
ORDINARY SHARE 2,000,000 OF 1.00 EACH.
ISSUED
AND PAID UP CAPITAL : 500,000.00 DIVIDED INTO
ORDINARY SHARE 500,000 CASH OF 1.00 EACH.
SALES : 1,465,342,159 [2005]
NET
WORTH : 21,892,100 [2005]
M1000
OVERALL RANKING : 178 [2005]
M1000
INDUSTRY RANKING : 3 [2005]
STAFF
STRENGTH : N/A
LITIGATION : CLEAR
FINANCIAL
CONDITION : POOR
PAYMENT : N/A
MANAGEMENT CAPABILITY : N/A
COMMERCIAL
RISK : N/A
CURRENCY
EXPOSURE : N/A
GENERAL
REPUTATION : NOT YET DETERMINED
INDUSTRY
OUTLOOK : NOT YET DETERMINED
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) dormant.
The SC
is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The SC
is 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.
According
to the Malaysia 1000 publication, the SC's ranking are as follows :
YEAR 2005 2004
OVERALL
RANKING 178 156
INDUSTRY
RANKING 3 2
The
major shareholder(s) of the SC are shown as follows :
Name Address IC/PP/Loc
No: Shareholding
MITSUI & CO LTD 2-1
OTEMACHI, 1-CHOME CHIYODA-KU 150,000
TOKYO,
JAPAN.
LIM CHENG MEE 58 JLN LIMAU PURUT,
OFF JLN MAAROF, 2989070 10,000
59000
KUALA LUMPUR.
CHIA SOON FATT 915
EVERBRIGHT PARK, BT 3 1/2, JLN K413746 10,000
PENRISSEN,
93250 KUCHING, SARAWAK.
TEJANA HOLDINGS SDN REGENT OFFICE,
BLK 160, JLN BKT BINTANG, 335733 210,000
BHD 5TH
FLR, 55100 KUALA LUMPUR.
SUJATRA ENTERPRISES C15-1 TOWER C,
MEGAN PHILEO AVENUE, 12 123780 120,000
SDN BHD JLN
YAP KWAN SENG, LEVEL 15, 50450 KUALA
LUMPUR.
--------------------
500,000
===========
+ Also
Director
The SC
interest in other companies (Subsidiaries/Associates) are shown as follows:
Local
No Name (%) As At
154371 BRIGHT STEEL SERVICE CENTRE SDN
BHD 0.00 25/04/05
296780 FANUC MECHATRONICS (MALAYSIA) SDN
BHD 23.00 31/03/04
151597 HIGHWAY TOLL SYSTEMS SDN BHD 41.00 31/03/03
214653 INTERCONTINENTAL TERMINALS (M) SDN
BHD 40.50 31/03/04
185639 KENSEISHA (M) SDN BHD 7.75 19/08/04
172104 MITSUI & CO MANAGEMENT
SERVICES SDN BHD 41.00 11/12/03
MITSUI & CO.,
MANAGEMENT SERVICES SDN BHD 41.00 31/03/04
167241 NEC MALAYSIA SDN BHD 0.00 08/04/05
167241 NEC SALES (MALAYSIA) SDN BHD 60.00 31/03/04
189874 NICHIBEI PARTS SDN BHD 20.00 31/03/04
195236 TAKAHATA PRECISION (M) SDN BHD 40.00 31/03/04
173769 TYLON CORPORATION SDN BHD 4.54 18/07/06
DIRECTORS
We have
conducted the following 2 essential checks on all the directors of the SC in
our database:
* INTEREST CHECK This refers to a check in our
databank whether the said person has any
interest companies and businesses.
* CREDIT HISTORY CHECK : This
refers to a check in our databank whether the said person
has been involved in any legal
suites, bankruptcy, liquidated/wound up companies in Malaysia
and as well as any other default
information related to him/her which
were contributed by our
valued subscribers. Our information on bankruptcy and wound up companies
date back to 1900.
DIRECTOR 1
Name of
Subject : DATO ABDUL JABID BIN MOHD DON
Address : 13 JLN KELAWAR 6/4H, 40000 SHAH ALAM, SELANGOR.
IC / PP
No : 1154713
New IC
No : 300405-01-5003
Date of
Birth : 05/04/1930
Nationality : MALAYSIAN MALAY
Date of
Appointment : 21/11/1986
INTEREST CHECK
Interest
in other companies : see below
Interest
in business : none in our databank
INTEREST IN COMPANY
Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . .Designation Shareholding Court As At .
.
CINEAD SDN BHD Director 0 09/12/1995
FASTFORGE SDN BHD Director 0 26/05/1986
J & C WORLD OF SPORTS SDN BHD Director 0 21/07/2006
JACOM INTEGRATED SDN BHD Director 0 06/08/2001
MITSUI & CO MANAGEMENT SERVICES SDN BHD Director 0 11/12/2003
MONDI PACKAGING KUALA LUMPUR SDN BHD Director 0 10/03/2006
MSI RISK CONSULTANCY SERVICES (MALAYSIA)
SDN BHD Director 0 15/07/2003
PACIFIC SHIP-MANAGERS SDN BHD Director 0 09/12/2005
SATELLITE TELECOMMUNICATION SYSTEM SDN
BHD Director 0 09/12/2005
SUJATRA ENTERPRISES SDN BHD Director 2 29/04/2005
TAKAHATA PRECISION (M) SDN BHD Director 0 07/04/2004
TAMAN MOLEK SDN BHD Director 0 11/02/2003
TEJANA HOLDINGS SDN BHD Director 170,000 14/04/2005
TEJANA
SDN BHD Director 1,000 06/04/1988
TEJANA
TRADING CORP SDN BHD Director 0 26/07/2006
TRADE
INDEMNITY INC. SDN BHD Director 0 26/04/1985
WELCAST
SDN BHD Director 0 14/01/1988
CREDIT HISTORY CHECK
Legal
action : none
in our databank
Bankruptcy
action : none in our databank
Secretary/director/
shareholder of would up company : none in our databank
Contributing
subscriber default information : none in our databank
DIRECTOR 2
Name of
Subject : YUSOF BIN IBRAHIM
Address : 17 JLN 2, TMN SELAYANG, 68100 BT CAVES, SELANGOR.
IC / PP
No : 2454145
New IC
No : 490212-04-5273
Date of
Birth : 12/02/1949
Nationality : MALAYSIAN MALAY
Date of
Appointment : 21/11/1986
INTEREST CHECK
Interest
in other companies : see below
Interest
in business : none in our databank
INTEREST IN COMPANY
Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . .Designation Shareholding Court As At . .
J & C WORLD OF SPORTS SDN BHD Director 0 21/07/2006
JACOM INTEGRATED SDN BHD Director 0 06/08/2001
MITSUI & CO MANAGEMENT SERVICES SDN BHD Director 0 11/12/2003
NEC MALAYSIA SDN BHD Director 0 08/04/2005
TEJANA HOLDINGS SDN BHD Director
10,000 14/04/2005
TEJANA TRADING CORP SDN BHD Director 0 26/07/2006
CREDIT HISTORY CHECK
Legal
action : none in our databank
Bankruptcy
action : none in our databank
Secretary/director/
shareholder of would up company : none in our databank
Contributing
subscriber default information : none in our databank
DIRECTOR 3
Name of
Subject : JUN OKAMOTO
Address : PACIFIC REGENCY HOTEL APT, JLN PUNCHAK, OFF JLN P
RAMLEE,
50250 KUALA LUMPUR.
IC / PP
No : TG0755291
Date of
Appointment : 23/10/2002
INTEREST CHECK
Interest
in other companies : see below
Interest
in business : none in our databank
INTEREST IN COMPANY
Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . Designation Shareholding Court As At .. .
FANUC MECHATRONICS (MALAYSIA) SDN BHD Director 0
24/08/2006
HEXA MALAYSIA SDN BHD Director 0
30/11/2006
J & C WORLD OF SPORTS SDN BHD Director 0
21/07/2006
MITSUI & CO MANAGEMENT SERVICES SDN BHD Director 0 11/12/2003
NEC MALAYSIA SDN BHD Director 0
08/04/2005
NICHIBEI PARTS SDN BHD Director 0
09/11/2005
RIGIDTEX SDN BHD Director 0
28/02/2006
TAKAHATA PRECISION (M) SDN BHD Director 0
07/04/2004
TEJANA TRADING CORP SDN BHD Director 0
26/07/2006
TYLON CORPORATION SDN BHD Director 0
18/07/2006
YAMATEX (MALAYSIA) SDN BHD Director 0
21/06/2003
CREDIT HISTORY CHECK
Legal
action : none in our databank
Bankruptcy
action : none in our databank
Secretary/director/
shareholder of would up company : none in our databank
Contributing
subscriber default information : none in our databank
MANAGEMENT
No data
was found in our databank
AUDITOR
Auditor : DELOITTE KASSIMCHAN
Auditors'
Address : UPTOWN 1, 1 JLN SS 21/58, D''SARA UPTOWN, LEVEL 19, 47400
PETALING
JAYA, SELANGOR.
COMPANY SECRETARY
1) Company Secretary : MS.
LILLIAN LEW LAI LIAN
IC / PP No. : 4950053
New IC No. : 560327-10-6276
Address : SUITE
C1-03-02, PANTAI HILLPARK CONDO P1, JALAN PANTAI
DALAM, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
Date of Appointment : 28/02/2002
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
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 :
N/A
Overseas : N/A
CLIENTELE
Local : N/A Percentage : N/A
Overseas : N/A Percentage : N/A
OPERATIONS
The SC
is principally engaged in the (as a / as an) dormant.
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 : N/A
Match : N/A
Address
Provided By Client : 5TH FLOOR, REGENT OFFICE BLK,160 JLN
BUKIT
BINTANG,
55100 KUALA LUMPUR.
Current
Address : N/A, MALAYSIA.
Match : N/A
Latest
Financial Accounts : YES
Other
Investigations
On 8th
January 2006, we contacted Ms Suan from the SC's Company Secretary. According
to her, the SC has merged with Mitsui & Co Management Services Sdn Bhd in
October 2006. The new company Is known as
Tejana Trading & Management Services Sdn Bhd.
FINANCIAL COMMENTS
The SC
is a dormant company. Thus it is not
appropriate for us to comment on the SC's financial performance.
COMMENTS
During
our investigation, we had contacted the SC's Company Secretary, Ms Suan.
According to her, the SC has merged with Mitsui & Co Management Services
Sdn Bhd in October 2006. The new company is known as Tejana Trading & Management Services Sdn Bhd. A such, the SC
is currently dormant. As the SC is a
dormant company, it is
inappropriate to comment
on its creditworthiness. In view
of the above, we do not recommend any credit be granted to the SC.
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING
STANDARD.
PROFIT
AND LOSS ACCOUNT
For The Year Ended 31-March-2005
TEJANA TRADING CORP SDN BHD
2005 2004 2003
TURNOVER 1,465,342,159 1,198,309,062 1,198,399,410
=========== =========== ===========
PROFIT/(LOSS) FROM OPERATIONS 289,557 670,365 158,957
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED
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PROFIT/(LOSS) BEFORE TAXATION 289,557 670,365 158,957
Taxation <219,354> <63,369> 7,136
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PROFIT/(LOSS) AFTER TAXATION 70,203 606,996 166,093
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PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS 70,203 606,996 166,093
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PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS 70,203 606,996 166,093
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT
FORWARD
As previously reported 22,321,897 22,714,901 22,548,808
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As restated 22,321,897 22,714,901 22,548,808
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PROFIT AVAILABLE FOR APPROPRIATIONS 22,392,100 23,321,897 22,714,901
DIVIDENDS - Ordinary (paid & proposed) <1,000,000> <1,000,000> -
------------------- ------------------- -------------------
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED
FORWARD 21,392,100 22,321,897 22,714,901
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RETAINED BY:
The Company 21,392,100 22,321,897 22,714,901
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21,392,100 22,321,897 22,714,901
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INTEREST EXPENSE (as per notes to P&L)
Term loan 3,887,655 3,681,558 -
Other interest expenses - - 3,370,182
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3,887,655 3,681,558 3,370,182
=========== =========== ===========
BALANCE SHEET
As
At 31-March-2005
TEJANA
TRADING CORP SDN BHD
2005 2004 2003
ASSETS EMPLOYED:
FIXED ASSETS 374,693 608,021 687,277
LONG TERM INVESTMENTS/OTHER ASSETS
Associated companies 16,298,150 16,298,150 10,000,823
Investments 10,322,664 10,322,664 12,395,664
------------------- ------------------- -------------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS 26,620,814 26,620,814 22,396,487
INTANGIBLE ASSETS
------------------- ------------------- -------------------
TOTAL LONG TERM ASSETS 26,995,507 27,228,835 23,083,764
CURRENT ASSETS
Stocks 9,075,372 7,910,993 8,832,931
Trade debtors 261,777,467 272,389,464 237,244,597
Other debtors, deposits
& prepayments 703,172 451,934 908,509
Short term deposits 10,872,117 4,545,600 -
Items in transit between
head office & branches
Amount due from associated
companies 5,500 5,500 -
Cash & bank balances 5,177,509 5,832,388 13,115,658
amount owing by
affiliated companies - 1,996 -
amount owing by a
corporate shareholder 153,130 192,618 -
tax recoverable 1,405,856 1,433,769 1,035,797
------------------- ------------------- -------------------
TOTAL CURRENT ASSETS 289,170,123 292,764,262 261,137,492
CURRENT LIABILITIES
Trade creditors 150,793,837 142,061,427 121,839,407
Other creditors &
accruals 5,104,718 333,944 5,930,002
Short term borrowings/Term
loans 113,126,152 129,762,330 117,769,624
due to a corporate
shareholder 5,407,172 5,218,223 -
due to affiliated companies - 4,513 -
------------------- ------------------- -------------------
TOTAL CURRENT LIABILITIES 274,431,879 277,380,437 245,539,033
------------------- ------------------- -------------------
NET CURRENT ASSETS/(LIABILITIES) 14,738,244 15,383,825 15,598,459
------------------- ------------------- -------------------
TOTAL NET ASSETS 41,733,751 42,612,660 38,682,223
=========== =========== ===========
FINANCED BY
SHARE CAPITAL
Ordinary share capital 500,000 500,000 500,000
------------------- ------------------- -------------------
TOTAL SHARE CAPITAL 500,000 500,000 500,000
RESERVES
Retained
profit/(Accumulated loss) carried
forward 21,392,100 22,321,897 22,714,901
------------------- ------------------- -------------------
TOTAL RESERVES 21,392,100 22,321,897 22,714,901
------------------- ------------------- -------------------
SHAREHOLDERS' FUNDS/EQUITY 21,892,100 22,821,897 23,214,901
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
Retirement benefits
provision 363,501 312,613 289,172
loan from a corporate
shareholder 19,478,150 19,478,150 15,178,150
------------------- ------------------- -------------------
TOTAL LONG TERM & DEFERRED
LIABILITIES &
PROVISIONS 19,841,651 19,790,763 15,467,322
------------------- ------------------- -------------------
41,733,751 42,612,660 38,682,223
=========== =========== ===========
FINANCIAL RATIOS
As At 31-March-2005
TEJANA TRADING CORP SDN BHD
2005 2004 2003
TYPES OF FUNDS
Cash 16,049,626 10,377,988 13,115,658
Net Liquid Funds <97,076,526> <119,384,342> <104,653,966>
Net Liquid Assets 5,662,872 7,472,832 6,765,528
Net Current
Assets/(Liabilities) 14,738,244 15,383,825 15,598,459
Net Tangible Assets 41,733,751 42,612,660 38,682,223
Net Monetary Assets <14,178,779> <12,317,931> <8,701,794>
BALANCE SHEET ITEMS
Total Borrowings 113,126,152 129,762,330 117,769,624
Total Liabilities 294,273,530 297,171,200 261,006,355
Total Assets 316,165,630 319,993,097 284,221,256
Net Assets 41,733,751 42,612,660 38,682,223
Net Assets Backing 21,892,100 22,821,897 23,214,901
Shareholders'' Funds 21,892,100 22,821,897 23,214,901
Total Share Capital 500,000 500,000 500,000
Total Reserves 21,392,100 22,321,897 22,714,901
LIQUIDITY (Times)
Cash Ratio 0.06 0.04 0.05
Liquid Ratio 1.02 1.03 1.03
Current Ratio 1.05 1.06 1.06
WORKING CAPITAL CONTROL (Days)
Stock Ratio 2 2 3
Debtors Ratio 65 83 72
Creditors Ratio 38 43 37
SOLVENCY RATIOS (Times)
Gearing Ratio 5.17 5.69 5.07
Liabilities Ratio 13.44 13.02 11.24
Times Interest Earned
Ratio 1.07 1.18 1.05
PERFORMANCE RATIO (%)
Operating Profit Margin 0.02 0.06 0.01
Net Profit Margin 0.00 0.05 0.01
Return On Net Assets 10.01 10.21 9.12
Return On Capital Employed 2.70 2.52 2.26
Return On Shareholders''
Funds/Equity 0.32 2.66 0.72
Dividend Pay Out Ratio
(Times) 14.24 1.65 0
NOTES TO ACCOUNTS
Contingent Liabilities 0 0 0
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 |
|
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/normal. |
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 |
|