MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ASTROMAX SYSTEMS & ENGINEERING SDN BHD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25/02/2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Computer Application, Programming, Information Technological & Development
Services & Trading of Computer Products |
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 : |
Unknown |
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Litigation : |
Clear |
* Adopted
abbreviations : SC - Subject Company ( the company enquired
by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 572081-U
COMPANY NAME : ASTROMAX SYSTEMS & ENGINEERING
SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 25/02/2002
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : MENARA CITY ONE, 3 JALAN MUNSHI
ABDULLAH, LETTER
BUSINESS ADDRESS : THE
47600
SUBANG JAYA,
TEL NO : 03 - 80232934
FAX NO : 03 - 80232914
CONTACT PERSON : MOHD JAFNI BIN MOHD NOOR (MANAGING
DIRECTOR)
INDUSTRY CODE : 72900 52360
PRINCIPAL ACTIVITY : COMPUTER APPLICATION, PROGRAMMING,
INFORMATION
TECHNOLOGICAL
& DEVELOPMENT SERVICES & TRADING
OF
COMPUTER PRODUCTS
AUTHORISED CAPITAL : MYR100,000.00 DIVIDED INTO ORDINARY
SHARE 100,000
OF
MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR100,000.00 DIVIDED INTO ORDINARY
SHARE 100,000
CASH
OF MYR1.00 EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 20
[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 : 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) computer
application, programming, information technological & development services
& trading of computer products.
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
MR. MOHD NOOR BIN KOENG
571229-07-5035
FATIMAH BTE MORDIFFI + 1335656D 40,000
--------------------
100,000
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+ Also
Director
DIRECTORS
DIRECTOR 1
Name of Subject : FATIMAH BTE MORDIFFI
IC / PP No. : 1335656D
Date of Appointment : 25/02/2002
DIRECTOR 2
Name of Subject : MR. MOHD JAFNI BIN MOHD NOOR
Address : F1-2,
LUMPUR, WILAYAH
IC / PP No. : N/A
New IC No : 851224-05-5429
Nationality : MALAYSIAN MALAY
Date of Appointment : 03/01/2007
DIRECTOR 3
Name of Subject : MR. NUR BURHANUDDIN BIN MOHD NOOR
Address : F1-2, LOJING HEIGHT, WANGSA MAJU,
53300
WILAYAH
IC / PP No. : N/A
New IC No : 830603-13-5901
Nationality : MALAYSIAN MALAY
Date of Appointment : 03/01/2007
MANAGEMENT
1) Name of Subject : MOHD
JAFNI BIN MOHD NOOR
Position : MANAGING DIRECTOR
AUDITOR
No data was found in our databank
COMPANY SECRETARY
1) Company Secretary : MR.
ANNAMALAI A/L SUNDRASAN
IC / PP No. : 8016499
New IC No. : 471217-02-5067
Address :
53300
Date of Appointment : 25/02/2002
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)
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
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 Percentage : 60%
Overseas : YES Percentage : 40%
Import Countries : UNITED STATES.
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%
Domestic Markets :
Overseas : NO Percentage : 0
%
Credit Term : 30 DAYS.
Payment Mode : CHEQUES.
Type of Customer : END USERS.
OPERATIONS
Goods Traded : COMPUTER HARDWARES & SOFTWARES
Services : COMPUTER APPLICATION, PROGRAMMING,
INFORMATION
TECHNOLOGICAL
& DEVELOPMENT SERVICES
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 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 : 03-80232934
Match : N/A
Address Provided By Client : LOT 2.25, THE
SUBANG
JAYA, SELANGOR
Current Address : THE
JAYA,
47600 SUBANG JAYA,
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 26th June 2007 we contacted one of the Sales staff from the SC and he
provided some 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
Established in 2002, the SC is principally engaged in the computer
application, programming, information technological and development services as
well as trading of computer products. The SC is registered as a private limited
company and it has a paid up capital of RM100,000. The SC is relatively new in
the market and it has yet to enjoy the stable market shares and more efforts
are expected from the management. It has a limited clientele base due to its
early years of establishment.
Our investigation revealed that the SC concentrates solely on the
domestic market and mainly sells to corporates. With the only concentration on
the domestic market, the SC is deemed to be in high risk compared to other
export-oriented players in the same industry. The management of the SC is
headed by Mohd Jafni Bin Mohd Noor and
20 employees in its operation. Overall management capability of the SC
is average.
We are unable to comment on the SC's financial performance due to
unavailability of its financial statements.
We were informed that the SC's raw materials are sourced from the local
market and also imported from overseas market. Thus, the SC is exposed to
foreign currency risk.
The SC is clear of any litigation.
The industry shows an upwards trend and this trend is very likely to
sustain in the near future. With the promising outlook of the industry, the
business potential of the SC should be favourable.
In view of the above, we only recommend credit be granted to the SC
under 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/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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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%)