MIRA
INFORM REPORT
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Report Date : |
18.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
CD ELECTRICAL ENGINEERING SDN BHD |
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Registered Office : |
24b, Persiaran Zaaba, Taman Tun Dr
Ismail, 60000 Kuala Lumpur |
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Country : |
Malaysia |
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Financials (as on) : |
30.06.2004 |
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Date of Incorporation : |
17/06/1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Electrical Contractor |
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/normal. |
Small |
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Status : |
Moderate
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
* Adopted abbreviations : SC - Subject Company ( the company enquired by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 347206-K
COMPANY NAME : CD
ELECTRICAL ENGINEERING SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 17/06/1995
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 24B, PERSIARAN ZAABA, TAMAN TUN DR ISMAIL,
60000 KUALA LUMPUR, MALAYSIA.
BUSINESS ADDRESS : NO 6, JLN TENGKU ZABEDAH, SECTION 9/A, 40100
SHAH ALAM, SELANGOR, MALAYSIA.
TEL NO : 03 - 55100650
FAX NO : 03 - 55100899
CONTACT PERSON : AHMAD DINAR BIN ABBAS (MANAGING DIRECTOR)
INDUSTRY CODE : 45302
PRINCIPAL ACTIVITY : ELECTRICAL CONTRACTOR
AUTHORISED CAPITAL : MYR1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000 OF MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR750,002.00 DIVIDED INTO
ORDINARY SHARE 550,004 CASH AND 199,998
OTHERWISE OF MYR1.00 EACH.
SALES : MYR16,390,773 [2004]
NET WORTH : MYR386,340 [2004]
STAFF STRENGTH : 15 [2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : MATURE
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) electrical contractor.
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
AHMAD DINAR BIN ABBAS 27
JALAN 14/58, 46100 PETALING JAYA, 5488918 375,001
+ SELANGOR,
MALAYSIA. 581019-10-6429
NOZLAN BIN SHAARI + 2362,
JALAN PERMATA 21, TAMAN PERMATA, 4919668 375,001
ULU
KELANG, 53300 KUALA LUMPUR, 551226-10-5579
WILAYAH
PERSEKUTUAN, MALAYSIA.
------------------
750,002
===========
+ Also Director
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 : MR. AHMAD DINAR BIN ABBAS
Address : 27 JALAN 14/58, 46100 PETALING JAYA, SELANGOR, MALAYSIA.
IC / PP No : 5488918
New IC No : 581019-10-6429
Date of Birth : 19/10/1958
Nationality : MALAYSIAN MALAY
Date of Appointment : 17/06/1995
INTEREST
CHECK
Interest in other companies : see below
Interest in business : none in our databank
INTEREST
IN COMPANY
Company. . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Designation Shareholding Court As At . . . ..
CD ELECTRICAL
ENGINEERING SDN BHD Director 375,001 06/01/2007
CREDIT
HISTORY CHECK
Legal action : see below
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
LEGAL ACTION
Code No : 52 Case No : 6951
Year : 1997 Place : KUALA LUMPUR
Court : SESSIONS COURT
Solicitor : AZIZ HASSAN & CO
Solicitor Ref : L0027/95(11)
Plaintiff : TENAGA NASIONAL BHD
Defendants : AHMAD DINAR BIN ABBAS
106 JLN CEMPAKA, TMN SRI TELOK DATOK BANTING, SELANGOR.
NASIR BIN AMIN
27 JLN KILAT KELANG, SELANGOR.
KECHIK HAMIR BIN LAZIM
16 JLN MELOR, KG RAJA UDA P KELANG, SELANGOR.
Amount Claimed: 70,000.00
Nature of Claim : GDS SOLD & DELIVERED
Remarks : MM 3/7/98
*Identity Card / Passport No. Is Not Available.
DIRECTOR 2
Name of Subject : MR. NOZLAN BIN SHAARI
Address : 2362, JALAN PERMATA 21, TAMAN PERMATA, ULU KELANG, 53300
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No : 4919668
New IC No : 551226-10-5579
Date of Birth : 26/12/1955
Nationality : MALAYSIAN MALAY
Date of Appointment : 30/12/1995
INTEREST
CHECK
Interest in other companies : see below
Interest in business : none in our databank
INTEREST
IN COMPANY
Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Designation Shareholding Court As At . . . . . .. .
CD ELECTRICAL ENGINEERING SDN BHD Director 375,001 06/01/2007
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
1) Name of Subject : AHMAD DINAR BIN ABBAS
Position : MANAGING DIRECTOR
2) Name of Subject : AHMAD JAMAL ABIDDIN ABBAS
Position : GENERAL MANAGER
3) Name of Subject : WAN MASNAH WAN MAT
Position : FINANCE MANAGER
4) Name of Subject : ABDUL MANAN ABD AZIZ
Position : SENIOR PROJECT MANAGER
AUDITOR
Auditor : KIAT & ASSOCIATES
Auditors' Address : 25 SEBERANG JALAN PUTERA, 1ST FLOOR ALOR SETAR, KEDAH,
MALAYSIA.
COMPANY SECRETARY
1) Company Secretary : MR. YAP KIM SING
IC / PP No. : 5115499
New IC No. : 570317-10-5439
Address : 9 JALAN 12/17, 46200 PETALING JAYA, SELANGOR,
MALAYSIA.
Date of Appointment : 16/01/1997
BANKING
Banking relations are maintained principally with :
1) Banker Name : MALAYAN BANKING BHD
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our investigation.
ENCUMBRANCE (S)
ENCUMBRANCE 1
Date of Creation : 18 Oct 2001
Description of Charge : OPEN CHARGE
Amount Secured : O/D
Description of Property Affected : N/A
Name & Address of Chargee : BUMIPUTRA-COMMERCE BANK BHD
Form 40 Dated
Registered and Numbered 1 In The Register of Charges
ENCUMBRANCE 2
Date of Creation : 18 Oct 2001
Description of Charge : N/A
Amount Secured : RM 2,700,000.00
Description of Property Affected : N/A
Name & Address of Chargee : BUMIPUTRA-COMMERCE BANK BHD
Form 40 Dated
Registered and Numbered 2 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 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 : YES
Overseas : YES
The SC refused to furnish us with the suppliers' names. Without the financial accounts, we are not able to comment on the SC's payment habit.
CLIENTELE
Local : YES Percentage : 100%
Overseas : NO Percentage : 0 %
Credit Term : AS AGREED.
Type of Customer : POWER STATIONS.
OPERATIONS
Services : ELECTRICAL CONTRACTOR
Competitor(s) : P.J. INDAH SDN BHD
UNIMEKAR SDN BHD
SESCO ENGINEERING SDN BHD
RANHILL KWI SDN BHD
COBRAIN HOLDINGS SDN BHD
Total Number of Employees :
YEAR 2007 2006
GROUP N/A N/A
COMPANY 15 20
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 : 03-55100650
Match : N/A
Address Provided By Client : E 07 3, EAST WING BUSS PARK, SUBWAY SQUARE,
JABON SS 15/4G, 47050 SUBANG JAYA.
Current Address : NO 6, JLN TENGKU ZABEDAH, SECTION 9/A, 40100
SHAH ALAM, SELANGOR, MALAYSIA.
Match : YES
Latest Financial Accounts : NO
Investigation :
We have contacted Mr Yap the SC's Company Secretary for the latest financial accounts. According to him, the SC has not completed auditing its financial accounts for year 2005 yet.
Other Investigations
On 15th January 2007, we conducted na interview with Mr Ahmad Jamil the SC's General Manager. He revealed some information pertaining to the SC.
We have verified and confirmed that the address provided is the SC's registered address.
FINANCIAL COMMENTS
The SC's latest financial accounts are up to 2004, which is out dated in our opinion. Therefore, our comment on the SC financial performance is restricted thereto.
Overall financial condition of the SC:
N/A
COMMENTS
Established in 1995 as a private limited company, the SC is principally engaged as an electrical contractor. With issued and paid up capital of RM750,002 contributed by 2 individual shareholders, the SC does not have strong shareholders' backing. Hence, it may face difficulties in its attempt to expand its business.
Having been in the industry for over a decade, the SC should have received strong support from its regular customers. We noted that the SC serves only the local market. Being highly dependent on one market segment, the SC's business risk is high. Any adverse changes to the local economy might have an effect on the SC. With a staff strength of 15 employees, the SC's management capability is average.
No latest financial accounts were filed during our inspection. The SC's latest financial accounts are up to 2004, which is out dated in our opinion. We had tried to obtain the SC's latest financial accounts from its Company Secretary, Mr Yap. According to him, the SC has not completed auditing its financial accounts for year 2005. Therefore, our comment on the SC's overall financial performance are restricted thereto.
Investigation revealed that the SC's supplies are sourced locally and from overseas countries. As such, it is subjected to currency fluctuation risk.
The SC is clear of litigation.
The industry is currently reaching its maturity stage and only enjoying a marginal growth. It is quite saturated and competitive. Thus, more efforts are expected from the management in order to sustain its growth momentum.
In view of the above, we only recommend credit be granted to the SC with guarantee.
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
PROFIT
AND LOSS ACCOUNT
30-June-2004
Consolidated Accounts : No
UnQualified
Reports : Yes
RM
Turnover 16,390,773.00
Operating
Revenue 0.00
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Profit
/ (Loss) Before Tax 13,592.00
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Profit
/ (Loss) After Tax 917.00
Extraordinary
Item 0.00
Minority
Interest 0.00
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Profit/(Loss)
Attributable to Shareholders 917.00
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Prior
Period Adjustment 0.00
Net
Dividend 0.00
Transferred
To/From Reserved 0.00
Others 0.00
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Unappropriated
Profit/(Loss) Brought Forward <
364,579.00 >
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Unappropriated
Profit/(Loss) Carried Forward <
363,662.00 >
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BALANCE SHEET
30-June-2004
Consolidated Accounts : No
UnQualified Reports : Yes
RM
Fixed
Assets 226,828.00
Total
Investment 0.00
Amount
Owing By 0.00
Current
Assets 3,354,784.00
Intangible
Assets 0.00
Other
Assets 132,801.00
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Total
Assets 3,714,413.00
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Working
Capital 70,707.00
Issued
Capital 750,002.00
Paid
Up Capital 750,002.00
Share
Premium & Reserved 0.00
Unappropriated
Profit/(Loss) <
363,662.00 >
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Shareholder's
Fund/Equity 386,340.00
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Current
Liabilities 3,284,077.00
Amount
Owing To 0.00
Long-term
and Deferred Liabilities 43,996.00
Share
Application Account 0.00
Minority
Interest 0.00
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Total
Equity Liability 3,714,413.00
================
Contingent
Liabilities 0.00
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
PROFIT AND LOSS
ACCOUNT
For
The Year Ended 30-June-2003
CD
ELECTRICAL ENGINEERING SDN BHD
2003 2002
MYR MYR
TURNOVER 5,527,734 8,736,061
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PROFIT/(LOSS) FROM OPERATIONS 5,658 <108,491>
Taxation <24,824> <16,309>
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PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS <19,166> <124,800>
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT
FORWARD
As previously reported <345,413> <220,613>
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PROFIT AVAILABLE FOR APPROPRIATIONS <364,579> <345,413>
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RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED
FORWARD <364,579> <345,413>
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RETAINED BY:
The Company <364,579> <345,413>
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<364,579> <345,413>
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INTEREST EXPENSE (as per notes to P&L)
Bank overdraft 3,121 12,935
Hire purchase 12,281 4,035
Overdue interest - 11,589
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15,402 28,559
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BALANCE SHEET
As At 30-June-2003
2003 2002
MYR MYR
ASSETS EMPLOYED:
FIXED ASSETS 373,079 228,870
INTANGIBLE ASSETS
Own goodwill 141,094 149,394
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TOTAL INTANGIBLE ASSETS 141,094 149,394
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TOTAL LONG TERM ASSETS 514,173 378,264
CURRENT ASSETS
Trade debtors 596,719 962,683
Other debtors, deposits
& prepayments 85,619 121,217
Short term deposits 105,958 102,510
Cash & bank balances 85,334 270,859
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TOTAL CURRENT ASSETS 873,630 1,457,269
CURRENT LIABILITIES
Trade creditors 639,368 1,224,840
Other creditors &
accruals 164,704 113,837
Hire purchase & lease
creditors 11,160 11,652
Bank overdraft 85,732 -
Amounts owing to director 6,674 -
Provision for taxation 28,204 28,302
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TOTAL CURRENT LIABILITIES 935,842 1,378,631
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NET CURRENT ASSETS/(LIABILITIES) <62,212> 78,638
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TOTAL NET ASSETS 451,961 456,902
=========== ===========
FINANCED BY:
SHARE CAPITAL
Ordinary share capital 750,002 750,002
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TOTAL SHARE CAPITAL 750,002 750,002
RESERVES
Retained profit/(Accumulated
loss) carried forward <364,579> <345,413>
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TOTAL RESERVES <364,579> <345,413>
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SHAREHOLDERS' FUNDS/EQUITY 385,423 404,589
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
Hire purchase creditors 48,538 52,313
Deferred taxation 18,000 -
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TOTAL LONG TERM & DEFERRED
LIABILITIES &
PROVISIONS 66,538 52,313
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451,961 456,902
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FINANCIAL RATIOS
As At 30-June-2003
2003 2002
MYR MYR
TYPES OF FUNDS
Cash 191,292 373,369
Net Liquid Funds 105,560 373,369
Net Liquid Assets <62,212> 78,638
Net Current
Assets/(Liabilities) <62,212> 78,638
Net Tangible Assets 310,867 307,508
Net Monetary Assets <128,750> 26,325
BALANCE SHEET ITEMS
Total Borrowings 145,430 63,965
Total Liabilities 1,002,380 1,430,944
Total Assets 1,387,803 1,835,533
Net Assets 451,961 456,902
Net Assets Backing 385,423 404,589
Shareholders' Funds 385,423 404,589
Total Share Capital 750,002 750,002
Total Reserves <364,579> <345,413>
LIQUIDITY (Times)
Cash Ratio 0.20 0.27
Liquid Ratio 0.93 1.06
Current Ratio 0.93 1.06
WORKING CAPITAL CONTROL (Days)
Stock Ratio 0 0
Debtors Ratio 39 40
Creditors Ratio 42 51
SOLVENCY RATIOS (Times)
Gearing Ratio 0.38 0.16
Liabilities Ratio 2.60 3.54
Times Interest Earned
Ratio 1.37 <2.80>
PERFORMANCE RATIO (%)
Operating Profit Margin 0.10 <1.24>
Net Profit Margin <0.35> <1.43>
Return On Net Assets 4.66 <17.49>
Return On Capital Employed 5.16 <25.04>
Return On Shareholders'
Funds/Equity <4.97> <30.85>
Dividend Pay Out Ratio
(Times) 0 0
NOTES TO ACCOUNTS
Contingent Liabilities 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 |
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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/normal. |
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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