MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
HAGECAPS (M) SDN BHD |
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Registered Office : |
8-4-13a Sunny Point Complex, Jalan |
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Country : |
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Date of Incorporation : |
24/05/2001 |
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Legal Form : |
Exempt Private Company |
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Line of Business : |
Manufacturer of Halal Two-Piece Empty Hard Capsules |
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 |
EXECUTIVE SUMMARY
LOCAL NO : 548644-P
COMPANY NAME :
HAGECAPS (M) SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 24/05/2001
COMPANY STATUS : EXIST
LEGAL STATUS : EXEMPT PRIVATE COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 8-4-13A SUNNY POINT COMPLEX, JALAN BATU UBAN, 11700
BUSINESS ADDRESS :
PARK, 13700 PERAI, PULAU
TEL NO : 04 - 3990259
FAX NO : 04 - 3993259
EMAIL : info@hagecaps.com
WEB SITE : www.hagecaps.com
CONTACT PERSON : IBRAHIM ZAINAL (MANAGING DIRECTOR)
INDUSTRY CODE : 24230
PRINCIPAL ACTIVITY : MANUFACTURING AND DISTRIBUTE OF HALAL TWO-PIECE
EMPTY HARD CAPSULES
AUTHORISED CAPITAL : MYR5,000,000.00 DIVIDED INTO
ORDINARY SHARE 5,000,000 OF MYR1.00 EACH.
ISSUED & PAID UP CAPITAL : MYR2,500,000.00 DIVIDED INTO
ORDINARY SHARE 2 CASH AND 2,499,998 OTHERWISE OF
MYR1.00 EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 10 [2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : MODERATE
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : STRONG GROWTH
CREDIT RATING : B (please refer to appendix)
HISTORY / BACKGROUND
The SC is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. 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, suing or be sued by other companies. The SC is governed by the Companies Act, 1965 and must file in its annual return. The SC need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the SC is able to meet all its obligations as and when they fall due.
Although the SC is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a / as an) manufacturing and distribute of halal two-piece empty hard capsules.
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 :
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Name |
Address |
IC/PP/Loc No: |
Shareholding |
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IBRAHIM BIN ZAINOL + |
49 JALAN USJ
17/4, 47630 PETALING JAYA, |
4323453 520428-02-5671 |
375,000 |
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NORAINI BTE CHE SAB + |
49 JALAN USJ
17/4, 47630 PETALING JAYA, |
5538345 590522-07-6030 |
1,000,000 |
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MS. CH'NG LAY POH |
1-9-1 DESA BELLA,
JALAN BUNGA HINAI, 11200 TANJONG BUNGAH, PULAU |
A0899004 |
1,000,000 |
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MR. TAN KHENG BOON |
75C JALAN TANJUNG
TOKONG, 10470 PULAU, PINANG, PULAU |
A0047318 |
125,000 |
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2,500,000 |
+ Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. IBRAHIM BIN ZAINOL
Address :
49 JALAN USJ 17/4, 47630 PETALING JAYA,
IC / PP No : 4323453
New IC No : 520428-02-5671
Date of Birth : 28/04/1952
Nationality : MALAYSIAN MALAY
Date of Appointment : 24/05/2001
DIRECTOR 2
Name of Subject : MS. NORAINI BTE CHE SAB
Address :
49 JALAN USJ 17/4, 47630 PETALING JAYA,
IC / PP No : 5538345
New IC No : 590522-07-6030
Date of Birth : 22/05/1959
Nationality : MALAYSIAN MALAY
Date of Appointment : 24/05/2001
DIRECTOR 3
Name of Subject : MR. TAN SAY CHOON
Address :
14,
IC / PP No : 7019391
New IC No : 630505-07-5961
Date of Birth : 05/05/1963
Nationality : MALAYSIAN CHINESE
Date of Appointment : 16/11/2001
Working Experience : HE HAS WIDE & IN-DEPTH TECHNICAL EXPERTISE & EXPERIENCE IN
THE ELECTRONIC PRODUCTS SECTOR. PRIOR TO HIS APPOINMENT IN
TRANS CAPITAL S/B, HE WAS A QUALITY ENGINEER IN AT & T
CONSUMER PRODUCTS (S) PTE LTD FROM 1986 TO 1988. IN 1988,
JOINED THOMPSON CONSUMER PRODUCTS, SINGAPORE AS A
SENIOR QUALITY ENGINEER. SUBSEQUENTLY JOINED CONNER
PERIPHERALS (M) S/B IN 1989 AS AN ENGINEERING MGR.
MANAGEMENT
1) Name of Subject : IBRAHIM ZAINAL
Position : MANAGING DIRECTOR
AUDITOR
No data was found in our databank
COMPANY SECRETARY
1) Company Secretary : MS. TAN MEE YEAM
IC / PP No. : 5141441
New IC No. : 570226-07-5676
Address : 102, 19E, JALAN SRI TEH EWE LIM, 11600
PULAU
PULAU
Date of Appointment : 16/11/2001
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 : 19 Jul 2002
Description of Charge : N/A
Amount Secured : RM 3,380,000.00
Description of Property Affected : N/A
Name & Address of Chargee : BANK INDUSTRI TEKNOLOGI
Form 40 Dated
Registered and Numbered 1 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
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%
Domestic Markets :
Overseas : NO Percentage : 0 %
Credit Term : AS AGREED.
Payment Mode : CHEQUES.
OPERATIONS
Products Manufactured : HALAL TWO-PIECE EMPTY HARD CAPSULES
Competitor(s) : HOVID BHD
APEX HEALTHCARE BHD
GLAXOSMITHKLINE PHARMACEUTICAL SDN BHD
SAFIRE PHARMACEUTICALS (M) SDN BHD
AIN MEDICARE SDN BHD
Total Number of Employees :
YEAR 2007 2006 2005
GROUP N/A N/A N/A
COMPANY 10 15 12
Branch : NO
Other Information :
The SC is principally engaged in the (as a / as an) manufacturing and distribute of halal two-piece empty hard capsules.
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 : 04-3990259
Match : N/A
Address Provided By Client :
INDUSTRIAL PARK, 13700
Current Address :
INDUSTRIAL PARK, 13700 PERAI, PULAU
Match : YES
Latest Financial Accounts : NO
Investigation :
On 13th February 2007, we contacted the SC's Company Secretary, Ms. Tan Mee Yeam for the latest financial accounts. According to her the SC is an exempt private company and its financial year end is at 31st December.
Other Investigations
On 8th February 2007, we conducted an interview with one of the SC's staff from Human Resource Department. She provided some information on the SC.
Besides that, we conducted an interview with one of the SC's staff from Production Department. He revealed some relevant information on the SC.
FINANCIAL COMMENTS
The SC is a private exempt company which does not need to file in its accounts with the Registrar of Companies for the information of the public. Therefore, we are not able to comment on the SC's financial performance.
COMMENTS
Incorporated in 2001 and the SC is an exempt private company. The SC is principally engaged in manufacturing and distribution of halal two-piece empty hard capsules. Presently, it has a total paid up capital of RM2.5 million. Throughout its years of establishment, the SC has slowly been building up contacts with its clients and competing in the industry.
The SC solely concentrates on the local market only. This narrow market segment limits its business expansion opportunities and placed the SC at higher business risk. At present, the SC has 10 staff in its operation and it is overseen by Managing Director Ibrahim Zainal. Its management capability is considered average.
As the SC is registered as a Exempt Private company, it is not required by the law to file its financial statements for public review. As such, we are unable to ascertain its present financial health.
The SC's suppliers are from local market and also from overseas market. As a result, the SC is exposed to foreign currency fluctuation risk.
Investigation revealed that the SC is clear of litigation.
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 and based on our assessment, we recommend credit be granted to the SC with 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%)