MIRA
INFORM REPORT
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Report Date : |
12.09.2007 |
IDENTIFICATION DETAILS
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Name : |
CALEE JEWELS (M) SDN BHD |
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Registered Office : |
75, Ah |
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Country : |
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Date of Incorporation : |
02/10/2006 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of Jewelleries |
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. |
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 : 749187-T
COMPANY NAME : CALEE JEWELS (M) SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 02/10/2006
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 75, AH
BUSINESS ADDRESS :
TEL NO : 04 - 2635575
FAX NO : 04 - 2635575
CONTACT PERSON : RAHUL RAMONKAR KUMAR (EXECUTIVE DIRECTOR)
INDUSTRY CODE : 51393
PRINCIPAL ACTIVITY : TRADING OF JEWELLERIES
AUTHORISED CAPITAL : MYR500,000.00 DIVIDED INTO ORDINARY SHARE 500,000
OF MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR400,000.00 DIVIDED INTO ORDINARY SHARE 2 CASH
AND 399,998 OTHERWISE OF MYR1.00 EACH.
SALES : N/A
NET WORTH : N/A
STAFF STRENGTH : 2 [2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : WEAK
COMMERCIAL RISK : HIGH
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : NOT YET DETERMINED
INDUSTRY OUTLOOK : AVERAGE 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) trading of jewelleries.
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. AMEER TAJUDIN BIN 20, CANGKAT
ABDUL WAHAB + HEIGHTS,
11700 GELUGOR, PULAU
MR. TAN KOK SEONG + 20,
CANGKAT
HEIGHTS,
11700 GELUGOR, PULAU
RAHUL RAMONKAR KUMAR + 32-11-3A, BUKIT DESA CONDOMINIUM, JALAN F4200521 60,000
BUKIT
DESA,
LUMPUR,
WILAYAH PERSEKUTUAN,
HIMAT BHAI POPAT BHAI 32-11-3A, BUKIT DESA CONDOMINIUM, JALAN Z1321564 60,000
LATHIYA + BUKIT
DESA 3,
ROAD,
58100
--------------------
400,000
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+ Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. AMEER TAJUDIN BIN ABDUL WAHAB
Address : 20, CANGKAT
GELUGOR,
PULAU
IC / PP No. : 5100544
New IC No : 561215-07-5385
Date of Birth : 15/12/1956
Nationality : MALAYSIAN MALAY
Date of Appointment : 02/10/2006
DIRECTOR 2
Name of Subject : MR. TAN KOK SEONG
Address : 20, CANGKAT
GELUGOR,
PULAU
IC / PP No. : A2721958
New IC No : 740218-07-5587
Date of Birth : 18/02/1974
Nationality : MALAYSIAN CHINESE
Date of Appointment : 02/10/2006
DIRECTOR 3
Name of Subject : RAHUL RAMONKAR KUMAR
Address : 32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA, OLD KLANG
ROAD,
58100
IC / PP No. : F4200521
Nationality : N/A
Date of Appointment : 02/10/2006
DIRECTOR 4
Name of Subject : HIMAT BHAI POPAT BHAI LATHIYA
Address : 32-11-3A, BUKIT DESA CONDOMINIUM,
JALAN BUKIT DESA 3,
DESA,
IC / PP No. : Z1321564
Nationality : N/A
Date of Appointment : 02/10/2006
MANAGEMENT
1) Name of Subject : RAHUL RAMONKAR KUMAR
Position : EXECUTIVE DIRECTOR
AUDITOR
No data was found in our databank
COMPANY SECRETARY
1) Company Secretary : MR. SURDASS@VIPIN KUMAR
IC / PP No. : 4243746
New IC No. : 511114-10-5957
Address : 11, LORONG RAHIM KAJAI 8,
Date of Appointment : 02/10/2006
2) Company Secretary : MS. T RATNAJOTHY D/O THAMBIDURAI
IC / PP No. : 5479627
New IC No. : 580606-08-5146
Address : LOT 587/72, JALAN NGP 2/4, NEW
WATERFALL,
48000 RAWANG,
Date of Appointment : 02/10/2006
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
Overseas : YES
Import Countries :
CLIENTELE
Local : YES Percentage : 100%
Domestic Markets :
Overseas : NO Percentage : 0 %
Credit Term : AS AGREED.
Payment Mode : CHEQUES, TELEGRAPHIC TRANSFER (TT), CASH.
Type of Customer : DEALERS, END USERS.
OPERATIONS
Goods Traded : JEWELLERIES
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 2
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 : 04-2635575
Match : N/A
Address Provided By Client : 32-11-3A, BUKIT DESA CONDOMINIUM, JLN BKT DESA 3,
TMN
BKT DESA LANDMARK,
Current Address :
Match : NO
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
We contacted one of the SC's Director Mr Rahul. He furnished some information on the SC.
We have verified and confirmed that the address provided belongs to Mr Rahul's residence.
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
Incorporated in 2006, the SC is primarily involved in trading of jewelleries. The SC is a private limited company with a small paid up capital of RM400,000, the SC may face difficulties in expanding its business when the needs arise.
As the SC is newly established, the SC has yet to built up its clientele base. Information revealed that the SC solely focuses on the domestic market. With such narrow market segment, the SC is likely to be exposed to higher commercial risk and affected by the uncertainties in the local economy. Besides, this will limit the SC's business expansion opportunities as well. At present, there are only 2 employees in its business operations and the SC is overseen by executive director, Rahul Ramonkar Kumar. Overall, its management capability can be considered weak.
Our comments on the SC's overall performance however are restricted due to the unavailability of its latest financial statements.
The SC's products are sourced locally and internationally. As the SC is still new in the market, it might deal with limited number of suppliers.
The SC is clear of any litigation.
The industry shows an upward trend and the trend is likely to sustain in the near term. However, the SC's business performance is much depending on the economic condition and consumer's spending power on luxury goods such as jewelleries. With the promising outlook of the industry performance, the SC should adopt more competitive strategies in order to capture higher market shares and compete with other long established players in the same field.
In view of the above and based on our assessment, we do not recommend credit be granted to the SC.
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. |
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%)