MIRA
INFORM REPORT
|
Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
SA GLOBAL TRADING SDN BHD |
|
|
|
|
Registered Office : |
5A, Jalan Mamanda 7, Ampang Point, 1st Floor, 68000
Ampang, Selangor |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2005 |
|
|
|
|
Date of Incorporation : |
03/06/2004 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading of Industrial Machinery and Engineering Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
* Adopted abbreviations : SC - Subject Company ( the company enquired by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 654902-P
COMPANY NAME : SA GLOBAL TRADING SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 03/06/2004
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS : 5A, JALAN MAMANDA 7, AMPANG POINT, 1ST FLOOR, 68000
AMPANG,
BUSINESS ADDRESS : 07-07 CONDOMINIUM RUBY, JALAN SUNGAI ABONG, 84000
MUAR,
TEL NO : 06 - 9545239
FAX NO : 06 - 9546997
CONTACT PERSON : SALMAN AHMAD QADRI MUHAMMAD IBRAHIM (MANAGING
DIRECTOR)
INDUSTRY CODE : 51591 74212
PRINCIPAL ACTIVITY : TRADING OF INDUSTRIAL MACHINERY AND ENGINEERING
SERVICES
AUTHORISED CAPITAL : MYR500,000.00 DIVIDED INTO ORDINARY SHARE 500,000
OF MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR500,000.00 DIVIDED INTO ORDINARY SHARE 500,000
CASH OF MYR1.00 EACH.
SALES : N/A
NET WORTH : MYR330,378 [2005]
STAFF STRENGTH : 6 [2007]
BANKER (S) : MALAYAN BANKING BHD
LITIGATION : CLEAR
FINANCIAL CONDITION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : WEAK
COMMERCIAL RISK : MODERATE
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : POOR
INDUSTRY OUTLOOK : MARGINAL 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 industrial machinery and engineering services.
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. SALMAN AHMAD QADRI 8D-03-05, MUTIARA CONDO BUKIT INDAH, J972298 315,000
MUHAMMAD IBRAHIM + 68000
AMPANG,
MS. ROSNANI BINTI ABDUL 82-36, BATU 1 1/4, JALAN BAKRI, 84000 MUAR, 5338781 150,000
HAMID +
MR. SHAUKAT ALI MOHAMMAD07-07, CONDOMINIUM RUBY,
JALAN SUNGAI KE784815 35,000
YOUSOF + ABONG,
84000 MUAR,
--------------------
500,000
===========
+ Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. SALMAN AHMAD QADRI MUHAMMAD IBRAHIM
Address : 8D-03-05, MUTIARA CONDO BUKIT INDAH, 68000 AMPANG,
IC / PP No. : J972298
Nationality : N/A
Date of Appointment : 03/06/2004
DIRECTOR 2
Name of Subject : MS. ROSNANI BINTI ABDUL HAMID
Address : 82-36, BATU 1 1/4, JALAN BAKRI, 84000
MUAR,
IC / PP No. : 5338781
New IC No : 580107-01-5856
Nationality : MALAYSIAN MALAY
Date of Appointment : 05/07/2005
DIRECTOR 3
Name of Subject : MR. SHAUKAT ALI MOHAMMAD YOUSOF
Address : 07-07, CONDOMINIUM RUBY, JALAN SUNGAI ABONG, 84000
MUAR,
IC / PP No. : KE784815
Nationality : N/A
Date of Appointment : 05/07/2005
DIRECTOR 4
Name of Subject : MR. NAGARAJAN A/L KANNIAH
Address : 94, JALAN TERATAI HAJI JAIB, 84000
MUAR,
IC / PP No. : 7363462
New IC No : 640305-01-5699
Nationality : MALAYSIAN INDIAN
Date of Appointment : 03/06/2004
MANAGEMENT
1) Name of Subject : SALMAN AHMAD QADRI MUHAMMAD IBRAHIM
Position : MANAGING DIRECTOR
AUDITOR
Auditor : ZAMZURI & CO
Auditors' Address : 10-1B, JALAN PANDAN 3/10, PANDAN JAYA KUALA LUMPUR,
WILAYAH
COMPANY SECRETARY
1) Company Secretary : MS. JUNAINAH BTE ISMAIL
New IC No. : 750226-04-5192
Address : 2B-12-01, BLOCK B, MENARA JADE, LENGKONGAN BUKIT
INDAH
3/14, 68000 AMPANG,
Date of Appointment : 03/06/2004
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
CLIENTELE
Local : YES
Domestic Markets :
Overseas : YES
Export Market :
Credit Term : 30 - 60 DAYS.
Payment Mode : CHEQUES, LETTER OF CREDIT (LC), CASH.
Type of Customer : AGENTS, DEALERS.
The SC concentrate on both local and overseas market.
OPERATIONS
Goods Traded : INDUSTRIAL MACHINERY
Services : ENGINEERING
Competitor(s) : UMW CORPORATION SDN BHD
TRACTORS
UMW
(
MALAYSIAN
INTERNATIONAL TRADING CORPORATION (
DELCOM SERVICES SDN BHD
Total Number of Employees :
YEAR 2007
GROUP N/A
COMPANY 6
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 : 60 6 9545239
Current Telephone Number : 06-9545239
Match : YES
Address Provided By Client : 654902-P, 07-07 CONDOMINIUM RUBY JALAN
SURGAT
ABOT 8400, MUAR
Current Address : 07-07 CONDOMINIUM RUBY, JALAN SUNGAI
ABONG,
84000 MUAR,
Match : NO
Latest Financial Accounts : YES
Other Investigations
We conducted an interview with one of the SC's staff from Accounts Department. He revealed some relevant information on the SC.
Besides that, we were informed that the SC just started the business operation on July 2007.
FINANCIAL COMMENTS
The SC's turnover was nil during the year indicate that it was inactive. As a result, we are unable to comment on its financial performance.
COMMENTS
Established in 2004, the SC is principally engaged in trading of industrial machinery and engineering services. Although the SC was incorporated in 2004, it only commenced its business in July 2007. Being a young company, the SC faces high business risk as it has yet to build up a stable reputation for itself among its suppliers and clientele. We noted that the SC's paid up capital stands at RM500,000, the SC's shareholders structure consists of 3 individual shareholders. Without a strong shareholders' backing, the SC may face difficulties in its attempt to further expand its business in the future.
Besides catering to the local market, the SC also exports to
other countries such as
The SC's turnover figure was nil which indicates that it was inactive during the financial year.
Investigation revealed that the SC's supplies are sourced from both local and overseas suppliers. Hence, the SC is subjected to currency fluctuation risk and high operating costs.
The SC is clear of litigation.
The industry has reached its maturity stage and only marginal growth is expected. With the normal outlook of the industry performance, the SC should adopt more competitive strategies to strengthen its position in the market.
In view of the above we do not recommend credit be granted to the SC.
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH
PROFIT
AND LOSS ACCOUNT
For
The Year Ended 30-June-2005
SA
GLOBAL TRADING SDN BHD
2005
MYR
TURNOVER 0
===========
PROFIT/(LOSS) FROM OPERATIONS <19,622>
SHARE
OF PROFITS/(LOSSES) OF ASSOCIATED
-------------------
PROFIT/(LOSS)
BEFORE TAXATION <19,622>
-------------------
PROFIT/(LOSS)
AFTER TAXATION <19,622>
-------------------
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS <19,622>
-------------------
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS <19,622>
RETAINED
PROFIT/(ACCUMULATED LOSS) BROUGHT
FORWARD
-------------------
-------------------
PROFIT
AVAILABLE FOR APPROPRIATIONS <19,622>
-------------------
RETAINED
PROFIT/(ACCUMULATED LOSS) CARRIED
FORWARD <19,622>
===========
RETAINED BY:
The Company <19,622>
-------------------
<19,622>
===========
INTEREST
EXPENSE (as per notes to P&L)
-------------------
===========
BALANCE SHEET
As
At 30-June-2005
2005
MYR
ASSETS EMPLOYED:
LONG TERM INVESTMENTS/OTHER ASSETS
-------------------
INTANGIBLE
ASSETS
-------------------
-------------------
CURRENT
ASSETS
Items in
transit between head office & branches
Amount due
from director 330,378
-------------------
TOTAL CURRENT
ASSETS 330,378
CURRENT
LIABILITIES
-------------------
-------------------
NET CURRENT
ASSETS/(LIABILITIES) 330,378
-------------------
TOTAL NET
ASSETS 330,378
===========
FINANCED
BY:
SHARE CAPITAL
Ordinary
share capital 350,000
-------------------
TOTAL SHARE
CAPITAL 350,000
RESERVES
Retained
profit/(Accumulated loss) carried
forward <19,622>
-------------------
TOTAL
RESERVES <19,622>
-------------------
SHAREHOLDERS'
FUNDS/EQUITY 330,378
LONG
TERM & DEFERRED LIABILITIES & PROVISIONS
-------------------
TOTAL LONG TERM
& DEFERRED LIABILITIES &
-------------------
330,378
===========
FINANCIAL RATIOS
As
At 30-June-2005
2005
MYR
TYPES OF
FUNDS
Cash 0
Net Liquid
Funds 0
Net Liquid
Assets 330,378
Net Current
Assets/(Liabilities) 330,378
Net Tangible
Assets 330,378
Net Monetary
Assets 330,378
BALANCE
SHEET ITEMS
Total
Borrowings 0
Total
Liabilities 0
Total Assets 330,378
Net Assets 330,378
Net Assets
Backing 330,378
Shareholders''
Funds 330,378
Total Share
Capital 350,000
Total
Reserves <19,622>
LIQUIDITY
(Times)
Cash Ratio 0
Liquid Ratio 0
Current Ratio 0
WORKING
CAPITAL CONTROL (Days)
Stock Ratio 0
Debtors Ratio 0
Creditors
Ratio 0
SOLVENCY
RATIOS (Times)
Gearing Ratio 0
Liabilities
Ratio 0
Times
Interest Earned Ratio 0
PERFORMANCE
RATIO (%)
Operating
Profit Margin 0
Net Profit
Margin 0
Return On Net
Assets <5.94>
Return On
Capital Employed <5.94>
Return On
Shareholders'' Funds/Equity <5.94>
Dividend Pay
Out Ratio (Times) 0
NOTES
TO ACCOUNTS
Contingent
Liabilities 0
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)