MIRA
INFORM REPORT
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Report Date : |
04.05.2007 |
IDENTIFICATION DETAILS
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Name : |
POLLUTION ENGINEERINGS (M) SDN BHD |
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Registered Office : |
C15-1 Tower C, |
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Country : |
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Date of Incorporation : |
10/09/1980 |
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Legal Form : |
Exempt Private Company |
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Line of Business : |
Enviromental & Waste Water Treatment Engineering |
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 : 62247-U
COMPANY NAME : POLLUTION ENGINEERINGS (M) SDN BHD
FORMER NAME : POLLUTION ENGINEERING SDN BHD (27-09-2006)
INCORPORATION DATE : 10/09/1980
COMPANY STATUS : EXIST
LEGAL STATUS : EXEMPT PRIVATE COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : C15-1 TOWER C,
KWAN SENG, LEVEL
15, 50450
BUSINESS ADDRESS :
KEMBANGAN,
TEL NO : 03 - 89617999
FAX NO : 03 - 89617629
EMAIL : pesb@po.jaring.my
WEB SITE : www.pollution-engineering.com
CONTACT PERSON : TONY LIEW YUAN CHIN (MANAGING DIRECTOR)
INDUSTRY CODE : 74219
PRINCIPAL ACTIVITY : ENVIROMENTAL & WASTE WATER TREATMENT
ENGINEERING
AUTHORISED CAPITAL : MYR1,000,000.00 DIVIDED INTO ORDINARY SHARE
1,000,000 OF MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR1,000,000.00 DIVIDED INTO ORDINARY SHARE 278,571
CASH AND 721,429 OTHERWISE OF MYR1.00 EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 100 [2007]
BANKER (S) : ALLIANCE BANK
: HSBC BANK
: UNITED OVERSEAS BANK (
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : MARGINAL GROWTH
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) environmental & waste water treatment engineering.
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. LIEW YUAN CHIN + 110, JALAN WAWASAN 3/9, PUSAT BANDAR 8005745 634,516
PUCHONG,
MS. CHEONG SIEW MOOI + 110, JALAN WAWASAN 3/9, PUSAT BANDAR 8181693 365,484
PUCHONG,
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1,000,000
===========
DIRECTORS
DIRECTOR 1
Name of Subject : MR. LIEW YUAN CHIN
Address : 110, JALAN WAWASAN 3/9, PUSAT BANDAR PUCHONG,
IC / PP No. : 8005745
New IC No : 500101-04-5293
Date of Birth : 01/01/1950
Nationality : MALAYSIAN CHINESE
Date of Appointment : 10/09/1980
DIRECTOR 2
Name of Subject : MS. CHEONG SIEW MOOI
Address : 110, JALAN WAWASAN 3/9, PUSAT BANDAR PUCHONG,
IC / PP No. : 8181693
New IC No : 550201-08-6100
Date of Birth : 01/02/1955
Nationality : MALAYSIAN CHINESE
Date of Appointment : 18/10/1991
DIRECTOR 3
Name of Subject : MS. OH YING YING
Address : 11, PINGGIRAN MINANG 2,
IC / PP No. : A1952649
New IC No : 710828-10-5176
Date of Birth : 28/08/1971
Nationality : MALAYSIAN CHINESE
Date of Appointment : 14/03/2002
DIRECTOR 4
Name of Subject : MR. TAI KAU @ TAI
Address : 303Q, KAMPUNG LAPAN, MACHANG, 75200 MELAKA, MELAKA,
IC / PP No. : 1771474
New IC No : 450506-04-5045
Date of Birth : 06/05/1945
Nationality : MALAYSIAN CHINESE
Date of Appointment : 06/07/2001
MANAGEMENT
1) Name of Subject : TONY LIEW YUAN CHIN
Position : MANAGING DIRECTOR
AUDITOR
Auditor : Y L CHEE & CO
Auditors' Address : 12-2 JALAN PJU 8/5C, PERDANA BUSINESS CENTRE, BANDAR
DAMANSARA
PERDANA, 47820 PETALING JAYA,
COMPANY SECRETARY
1) Company Secretary : MS. MAH LI CHEN
IC / PP No. : A0020048
New IC No. : 641107-10-6594
Address : 33, JALAN BRP 4/6, BUKIT RAHMAN PUTRA, SECTION U20,
40160
SHAH ALAM,
Date of Appointment : 01/09/2001
2) Company Secretary : MS. TAN FONG SHIAN@LIM FONG SHIAN
IC / PP No. : A2530154
New IC No. : 731008-14-5378
Address : 16, JALAN ARIF, TAMAN
LUMPUR,
WILAYAH
Date of Appointment : 30/04/2004
BANKING
Banking relations are maintained principally with :
1) Banker Name : ALLIANCE
BANK
2) Banker Name : HSBC
BANK
3) Banker Name : UNITED
OVERSEAS BANK (
The SC enjoys normal banking routine with above mentioned banker(s).
The SC has bank charges with above mentioned banker(s).
ENCUMBRANCE (S)
ENCUMBRANCE 1
Date of Creation : 23 Jan 1995
Description of Charge : CHARGE
Amount Secured : RM 7,000,000.00
Description of Property Affected : GM 191 LOT 798, MK KAJANG
Name & Address of Chargee : CHUNG KHIAW
BANK (
BGN CHUNG KHIAW BANK, JLN RAJA LAUT, 50350 KUALA
LUMPUR.
Form 40 Dated 28 Jan 1995
Registered and Numbered 4 In The Register of Charges
ENCUMBRANCE 2
Date of Creation : 09 Oct 1995
Description of Charge : OPEN CHARGE
Amount Secured : O/D
Description of Property Affected : FACILITIES AGREEMENT DATED 9.10.1995 BETWEEN THE
CHARGEE & POLLUTION ENGINEERING SDN BHD
Name & Address of Chargee : MALAYSIAN FRENCH BANK BHD
MUNSHI
ABDULLAH, 7TH FLR, 50100
Form 40 Dated 11 Oct 1995
Registered and Numbered 6 In The Register of Charges
ENCUMBRANCE 3
Date of Creation : 23 Dec 1999
Description of Charge : N/A
Amount Secured : RM 3,000,000.00
Description of Property Affected : N/A
Name & Address of Chargee : MULTI-PURPOSE BANK BHD
Form 40 Dated
Registered and Numbered 8 In The Register of Charges
ENCUMBRANCE 4
Date of Creation : 22 Mar 2001
Description of Charge : OPEN CHARGE
Amount Secured : O/D
Description of Property Affected : N/A
Name & Address of Chargee : HSBC BANK
Form 40 Dated
Registered and Numbered 11 In The Register of Charges
ENCUMBRANCE 5
Date of Creation : 10 Mar 2004
Description of Charge : N/A
Amount Secured : RM 1,000,000.00
Description of Property Affected : N/A
Name & Address of Chargee : UNITED
OVERSEAS BANK (
Form 40 Dated
Registered and Numbered 12 In The Register of Charges
ENCUMBRANCE 6
Date of Creation : 28 Dec 2004
Description of Charge : OPEN CHARGE
Amount Secured : o/d
Description of Property Affected : N/A
Name & Address of Chargee : ALLIANCE BANK
Form 40 Dated
Registered and Numbered 13 In The Register of Charges
ENCUMBRANCE 7
Date of Creation : 28 Apr 2005
Description of Charge : N/A
Amount Secured : RM 1,000,000.00
Description of Property Affected : N/A
Name & Address of Chargee : UNITED
OVERSEAS BANK
Form 40 Dated
Registered and Numbered 14 In The Register of Charges
ENCUMBRANCE 8
Date of Creation : 14 Feb 2006
Description of Charge : OPEN CHARGE
Amount Secured : N/A
Description of Property Affected : N/A
Name & Address of Chargee : ALLIANCE BANK
Form 40 Dated
Registered and Numbered 15 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
back dated since 1900.
No legal action was found in our databank.
WINDING UP PETITION / ORDER & LIQUIDATION
Name : POLLUTION ENGINEERINGS (M) SDN BHD
Former Name : POLLUTION ENGINEERING SDN BHD
Court : HIGH COURT Place : KL
Petitioner : BINA GEMAS SDN BHD
Petitioner's Sol : K S LAN & CO
Petition Date : 02 Jun 1999
Settled Date : 2000
Remarks : LIST
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Loca l : YES Percentage : 40%
Overseas : YES Percentage : 60%
Import Countries :
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 - 60 DAYS.
Payment Mode : CHEQUES.
Type of Customer : END USERS
OPERATIONS
Services : ENVIROMENTAL & WASTE WATER TREATMENT ENGINEERING
Competitor(s) : HALLIBURTON ENERGY SERVICES (
KENCANA HL SDN BHD
OILFAB SDN BHD
O'CONNOR'S ENGINEERING SDN BHD
RANHILL WORLEYPARSONS SDN BHD
Total Number of Employees :
YEAR 2007 2006
GROUP N/A N/A
COMPANY 100 110
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 : 03-89617999
Match : N/A
Address Provided By Client :
KEMBANGAN, SELANGOR
Current Address :
KEMBANGAN,
Match : YES
Latest Financial Accounts : NO
Other Investigations
On 27th April 2007, we conducted an interview with the SC's staff, Ms Zakiah. She furnished us some information on the SC.
The SC has a winding-up case in 1999. The petitioner is Bina Gemas Sdn Bhd and the Solicitor is K S Lan & Co. According to the Solicitor, the SC's case has settled in 2000.
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
Established in 1980, the SC is principally engaged in the environmental and waste water treatment engineering. With its long presence in the industry coupled with its vast experiences in the business, the SC should have built up a certain goodwill with its client over times. At present the paid up capital of the SC stands at RM1 million.
Currently, the SC solely concentrates on the local market only. With itsl concentration in the domestic market, the SC is deemed to be in high risk compared to other export-oriented players in the same industry. The SC's management is headed by Managing Director Tony Liew Yuan Chinh and it has a workforce of about 100 employees in its operation. Its overall management capability is considered average.
As an exempt private company, the SC is not required by the law to disclose its financial accounts for public review. Without its financial accounts, we are unable to ascertain the current financial standing of the SC.
The SC's business operations are subjected to the currency fluctuation risk as it sources its products locally and from overseas countries.
The industry is reaching its maturity stage and a marginal growth is expected. With the normal outlook of the industry performance, we believe that the SC has the potential of capturing a higher market shares.
In view of the above 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%)