MIRA
INFORM REPORT
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Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEH HUP SENG TRADING SDN BHD |
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Registered Office : |
31 Jalan Shahbandar, Batu Pahat, 83000 Batu Pahat, Johor, |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
06.08.2002 |
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Com. Reg. No.: |
588559-P |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading in Grocery Goods |
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 : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
* Adopted abbreviations : SC - Subject Company (the comp any
enquired by you)
N/A - Not Applicable
EXECUTIVE
SUMMARY
REGISTRATION NO. : 588559-P
COMPANY NAME : TEH HUP SENG TRADING SDN BHD
FORMER NAME : N/A
INCORPORATION DATE : 06/08/2002
COMPANY
STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED
LISTED STATUS : NO
REGISTERED ADDRESS : 31
JALAN SHAHBANDAR, BATU PAHAT, 83000 BATU PAHAT, JOHOR, MALAYSIA.
BUSINESS ADDRESS : 31, JALAN SHAH BANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
TEL.NO. : 07-4310452
FAX.NO. : 07-4329717
CONTACT PERSON : TEH HENG TIAN ( DIRECTOR )
INDUSTRY
CODE : 51239
PRINCIPAL ACTIVITY : TRADING IN GROCERY GOODS
AUTHORISED CAPITAL : MYR
500,000.00 DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR 500,000.00 DIVIDED INTO
ORDINARY SHARES 500,000 CASH OF MYR
1.00 EACH.
SALES : MYR 45,875,441 [2004]
NET WORTH : MYR 698,936 [2004]
STAFF
STRENGTH : 10 [2008]
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 : POOR
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) trading in grocery goods.
The SC is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The SC is not qualified to be one of the Top Corporate Performers in the
Malaysia 1000 (M1000) publication, a directory jointly published by Companies
Commission of Malaysia (The Registrar Office), Minister of Domestic Trade and
Consumer Affairs and our publication arm, BASIS Publications House Sdn Bhd.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
|
MR. TEH HIN LAM + |
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
660102-01-6235 A0284697 |
166,668.00 |
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MR. TEH HENG TIAN + |
310A, JALAN AMPUAN, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
630218-01-5747 6948867 |
166,666.00 |
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MR. TEH KEE SENG + |
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
570516-01-5401 5707299 |
166,666.00 |
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--------------- |
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500,000.00 |
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============ |
+ Also Director
DIRECTORS
DIRECTOR 1
Name Of Subject : MR. TEH HENG TIAN
Address : 310A, JALAN AMPUAN, 83000 BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No : 6948867
New IC No : 630218-01-5747
Date of Birth : 18/02/1963
Nationality : MALAYSIAN CHINESE
Date of Appointment : 06/08/2002
DIRECTOR
2
Name Of Subject : MR. TEH KEE SENG
Address : 31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No : 5707299
New IC No : 570516-01-5401
Date of Birth : 16/05/1957
Nationality : MALAYSIAN CHINESE
Date of Appointment : 06/08/2002
DIRECTOR
3
Name Of Subject : MR. TEH HIN LAM
Address : 31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No : A0284697
New IC No : 660102-01-6235
Date of Birth : 02/01/1966
Nationality : MALAYSIAN CHINESE
Date of Appointment : 06/08/2002
MANAGEMENT
1) Name of Subject : TEH HENG TIAN
Position : DIRECTOR
2) Name of Subject : TEH HIN LAM
Position : DIRECTOR
3) Name of Subject : TEH KEE SENG
Position : DIRECTOR
AUDITOR
Auditor : TAY & ASSOCIATES
Auditor' Address : 28-1, PERSIARAN JUBILEE, OFF JALAN LOKE LOKE YEW, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
COMPANY
SECRETARIES
1) Company Secretary : MS. LEE CHAI KIEN
IC / PP No : 4758347
New IC No : 550318-01-5672
Address : 1, JALAN JINGGA, TAMAN BUKIT PASIR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
Date of Appointment : 31/12/2003
2) Company Secretary : MR. TAN KIAN HONG
IC / PP No : 8186368
New IC No : 550701-01-5229
Address : 15, JALAN BINTANG 14, TAMAN KOPERASI BAHAGIA, 83000 BATU PAHAT, JOHOR, MALAYSIA.
Date of Appointment : 31/12/2003
BANKING
Banking relations are maintained principally with :
1) 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 SC
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia back dated since 1900.
No legal action was found in our databank.
No winding up petition was found in our databank.
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
Domestic Markets : MALAYSIA
Overseas : YES
Export Market : CHINA
Credit Term : 30 DAYS
Payment Mode : CHEQUES,CASH
Type of Customer : WALK IN CUSTOMERS,RETAIL
The SC mainly
concentrates on local market.
OPERATIONS
Goods Traded :FOODSTUFF
SUCH AS ONIONS, POTATOES AND OTHERS
Competitor(s) :A
CLOUET & COMPANY (KUALA LUMPUR) SDN BHD
HARPERS TRADING
(MALAYSIA) SDN BHD
LUN HENG SDN BHD
MAGRI FOODS SDN
BHD
SUSHI KIN SDN BHD
Total Number of Employees:
YEAR 2008 2007 2006
GROUP N/A N/A N/A
COMPANY 10 10 10
Branch :NO
Other Information:
The SC is principally engaged in the (as a / as an) trading in grocery goods.
The SC sells a wide range of products including onions, garlics, gingers,
potatoes, rice, flour, cooking oil, canned foods, herbs, spices, seasonings,
pasta, grain, snacks, cookies, candy, confectionery, bakery, soft drinks,
beverages and many more.
The SC sells more than 100 types of
products.
The SC sells the products under various
brand names.
The SC has a warehouse located at the same premises to keep stocks.
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 :006074310452/4322931
Current Telephone Number :07-4310452
Match :YES
Address Provided by Client :NO
31 JALAN SHAH BANDAR 83000 BATU PAHAT JOHOR
Current Address :31,
JALAN SHAH BANDAR, 83000 BATU PAHAT, JOHOR,
MALAYSIA.
Match :YES
Latest Financial Accounts :NO
On 31st January 2008, we contacted the SC's Company Secretary, Mr. Tan for the
latest financial accounts. However he rejected our request in view of the confidentiality
of the information.
Other Investigations
We conducted an interview with one of the SC's staff from Admin & Accounts
Department, Ms. Wong. She revealed some relevant information on the SC.
FINANCIAL COMMENTS
The SC's latest available financial accounts
with the Registrar of Companies are for the year 2004 only. We are of the
opinion that the financial accounts are outdated and our comment on the SC's
financial is restricted thereto.
ECONOMIC / INDUSTRY OUTLOOK
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Major Economic Indicators: |
2004 |
2005 |
2006 |
2007* |
2008** |
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Population ( Million) |
25.58 |
26.13 |
26.64 |
27.17 |
27.73 |
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Gross Domestic Products ( % ) |
7.1 |
5.3 |
5.8 |
6.0 |
6.5 |
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Domestic Demand ( % ) |
7.5 |
7.3 |
7.0 |
9.0 |
6.8 |
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Private Expenditure ( % ) |
13.1 |
9.5 |
7.0 |
8.6 |
8.2 |
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Consumption ( % ) |
10.5 |
9.2 |
7.1 |
9.0 |
7.9 |
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Investment ( % ) |
25.8 |
8.5 |
7.0 |
7.1 |
9.5 |
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Public Expenditure ( % ) |
<2.1> |
3.6 |
6.8 |
10.1 |
3.2 |
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Consumption ( % ) |
6.0 |
5.4 |
5.0 |
10.8 |
5.5 |
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Investment ( % ) |
<8.7> |
1.9 |
8.9 |
9.3 |
0.5 |
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Balance of Trade ( MYR Million ) |
80,663 |
99,760 |
108,192 |
99,965 |
99,599 |
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Government Finance ( MYR Million ) |
<19,419> |
<18,684> |
<19,109> |
<19,948> |
<20,933> |
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Government Finance to GDP / Fiscal Deficit ( % ) |
<4.3> |
<3.8> |
<3.3> |
<3.2> |
<3.1> |
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Inflation ( % Change in Composite CPI) |
1.4 |
3.1 |
3.9 |
4.0 |
4.0 |
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Unemployment Rate |
3.5 |
3.5 |
3.4 |
3.5 |
3.3 |
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Net International Reserves ( MYR Billion ) |
254 |
266 |
290 |
- |
- |
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Average Risk-Weighted Capital Adequacy Ratio ( % ) |
13.84 |
13.63 |
12.91 |
- |
- |
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Average 3 Months of Non-performing Loans ( % ) |
8.46 |
6.74 |
5.41 |
- |
- |
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Average Base Lending Rate ( % ) |
5.99 |
6.00 |
6.61 |
- |
- |
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Business Loans Disbursed( % ) |
10.5 |
8.7 |
<2.5> |
- |
- |
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Foreign Investment ( MYR Million ) |
13,143.9 |
17,882.9 |
20,228.0 |
- |
- |
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Consumer Loans ( % ) |
- |
- |
- |
- |
- |
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Registration of New Companies ( No. ) |
38,580 |
37,474 |
38,293 |
- |
- |
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Registration of New Companies ( % ) |
6.8 |
<2.9> |
2.2 |
- |
- |
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Liquidation of Companies ( No. ) |
3,334 |
3,069 |
8,647 |
- |
- |
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Liquidation of Companies ( % ) |
<15.8> |
<7.9> |
181.8 |
- |
- |
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Registration of New Business ( No. ) |
189,206 |
193,095 |
216,147 |
- |
- |
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Registration of New Business ( % ) |
4.6 |
2.1 |
11.9 |
- |
- |
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Business Dissolved ( No. ) |
51,301 |
73,355 |
52,879 |
- |
- |
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Business Dissolved ( % ) |
7.0 |
43.0 |
<27.9> |
- |
- |
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Sales of New Passenger Cars (' 000 Unit ) |
380.6 |
400.8 |
374.1 |
- |
- |
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Cellular Phone Subscribers ( Million ) |
14.6 |
18.5 |
19.5 |
21.3 |
- |
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Tourist Arrival ( Million Persons ) |
15.7 |
16.7 |
17.5 |
20.1 |
- |
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Hotel Occupancy Rate ( % ) |
60.8 |
63.6 |
64.8 |
- |
- |
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Credit Cards Spending ( % ) |
19.3 |
13.9 |
15.4 |
- |
- |
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Bad Cheque Offenders (No.) |
70,465 |
57,316 |
36,555 |
- |
- |
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Individual Bankruptcy ( No.) |
16,251 |
15,868 |
13,596 |
- |
- |
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Individual Bankruptcy ( % ) |
31.6 |
<2.4> |
<14.3> |
- |
- |
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INDUSTRIES ( % of Growth ): |
2004 |
2005 |
2006 |
2007* |
2008** |
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Agriculture |
5.0 |
2.5 |
5.3 |
3.1 |
3.5 |
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Palm Oil |
3.9 |
7.1 |
5.8 |
<0.6> |
- |
|
Rubber |
16.5 |
<2.9> |
12.6 |
1.0 |
- |
|
Forestry & Logging |
4.3 |
2.0 |
<0.4> |
2.8 |
- |
|
Fishing |
5.5 |
<0.4> |
9.3 |
5.2 |
- |
|
Other Agriculture |
2.4 |
3.2 |
5.3 |
7.0 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
620.3 |
563.7 |
516.5 |
487.3 |
0 |
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% of Industry Non-Performing Loans |
1.38 |
1.19 |
1.06 |
1.08 |
0 |
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Mining |
3.9 |
0.8 |
<0.4> |
3.3 |
4.0 |
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Oil & Gas |
4.5 |
1.6 |
4.6 |
- |
- |
|
Other Mining |
<8.0> |
<1.0> |
5.1 |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
62.6 |
68.8 |
55.4 |
42.2 |
- |
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% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
0.1 |
- |
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Manufacturing # |
9.8 |
5.1 |
7.3 |
3.1 |
3.8 |
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Exported-oriented Industries |
15.5 |
3.0 |
11.1 |
<1.9> |
- |
|
Electrical & Electronics |
17.8 |
3.6 |
13.4 |
3.0 |
- |
|
Rubber Products |
14.8 |
2.4 |
0.4 |
8.0 |
- |
|
Wood Products |
12.7 |
0.9 |
0.7 |
3.3 |
- |
|
Textiles & Apparel |
<11.7> |
<4.4> |
12.6 |
<10.1> |
- |
|
Domestic-oriented Industries |
9.7 |
6.9 |
5.0 |
5.3 |
- |
|
Food, Beverages & Tobacco |
3.8 |
7.7 |
4.8 |
5.6 |
- |
|
Chemical & Chemical Products |
14.6 |
6.9 |
1.7 |
9.2 |
- |
|
Plastic Products |
13.5 |
18.6 |
21.3 |
<3.6> |
- |
|
Iron & Steel |
2.7 |
<6.7> |
<6.9> |
17.5 |
- |
|
Fabricated Metal Products |
29.2 |
<7.5> |
20.0 |
26.2 |
- |
|
Non-metallic Mineral |
<4.8> |
<6.0> |
<1.9> |
6.6 |
- |
|
Transport Equipment |
8.6 |
10.4 |
5.3 |
<19.0> |
- |
|
Paper & Paper Products |
2.3 |
4.6 |
4.1 |
14.9 |
- |
|
Crude Oil Refineries |
<2.4> |
8.2 |
12.1 |
8.6 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
7,765.4 |
6,035.6 |
6,181.3 |
6,366.2 |
- |
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% of Industry Non-Performing Loans |
17.3 |
12.7 |
12.7 |
14.1 |
- |
|
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|
|
|
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|
Construction |
<1.5> |
<1.6> |
<0.5> |
5.2 |
6.3 |
|
Industry Non-Performing Loans ( MYR Million ) |
5,547.7 |
5,172.7 |
5,527.3 |
5,116.7 |
- |
|
% of Industry Non-Performing Loans |
12.4 |
10.9 |
11.4 |
11.3 |
- |
|
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|
|
|
|
|
|
Services |
6.8 |
6.6 |
7.2 |
9.0 |
8.6 |
|
Electric, Gas & Water |
8.1 |
5.5 |
5.2 |
4.6 |
5.0 |
|
Transport, Storage & Communication |
8.5 |
6.3 |
5.2 |
7.6 |
7.8 |
|
Wholesale, Retail, Hotel & Restaurant |
7.1 |
8.0 |
7.1 |
11.6 |
10.0 |
|
Finance, Insurance & Real Estate |
6.3 |
7.0 |
7.7 |
10.7 |
9.2 |
|
Government Services |
6.5 |
7.6 |
9.8 |
4.6 |
8.6 |
|
Other Services |
4.9 |
5.0 |
4.7 |
5.0 |
5.9 |
|
Industry Non-Performing Loans ( MYR Million ) |
8,913.7 |
8,716.8 |
11,593.2 |
10,207.8 |
- |
|
% of Industry Non-Performing Loans |
19.9 |
18.4 |
23.9 |
22.6 |
- |
|
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* Estimate / Preliminary |
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** Forecast |
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# Based On Manufacturing Production Index |
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INDUSTRY COMMENTS
MSIC CODE
51239 : Wholesale of other foodstuffs e.g mee,kueh teow, wantan skin and
related products,cooking oil, tinned food, etc
INDUSTRY : FOOD & BEVERAGES
Food production is seen to expand further with the Government's policy to
reduce the food import bill and promote self-sufficiency by 2010 through
expansion of idle lands and mechanization of farming methods as well as
promotion of good farming practices. Areas of activity that will boost this
sector include aquaculture, deep-sea fishing, floriculture as well as herbs
cultivation.
Output of the food products industry grew significantly by 12.7% (January-June
2006: 1.1%). This was driven by higher output in processing and preserving of
fish and fish products, which grew by 27.1% in tandem with increased marine
fish landings. In addition, the robust growth of food products was also
supported by increased output of dairy (16.0%) and grain mill products (7.0%),
in particular, rice milling which increased 17.7%, benefiting from higher
production of paddy. Meanwhile, other food products, particularly, sugar
refinery and biscuit products also registered double-digit growth ranging
between 23.0% and 25.0%.
Export receipts of food products increased by 15.9% (RM5,268 million) while beverages
106.5% (RM580 million) as a result of continuous efforts by manufacturers to
attain quality assurance and accreditation for Malaysia's food and beverages
products.
The Government has identified the processed food industry as one of the major
growth sectors of the economy under the Ninth Malaysia Plan (9MP). Under the
9MP, the food commodities subsector is expected to grow at an average rate of
7.6% per annum through improvements in efficiency and productivity as well as
expansion in hectarage. Exports of food commodities will be increased to
achieve a positive food trade balance. The production of 'padi' will be
increased to meet the target of self-sufficiency level of 90%. The production
of fruits will be undertaken on a large-scale in the fruit production zones
using the cluster development approach and concentrating on nine fruit species
which have export potential. The production of vegetables will focus on high
value varieties for local consumption and selected export markets. The Green
Book Programme to promote cultivation of food crops at the community level will
be reactivated.
The Government has approved an allocation of RM11.4 billion representing an
increase of 70% compared with the Eighth Plan allocation for the sector. Among
the objectives of the plan are large-scale commercial farming and greater
application of modern technology and ICT to produce higher value-added
processed food and food products.
Production of 'halal' food will be further promoted to take advantage of the
vast potential of the 'halal' export market. This will include processing and
packaging of meat, fisheries and other food-based products. In addition,
Malaysia will be developed as the centre for the certification of 'halal'
products and the Jabatan Kemajuan Islam Malaysia (JAKIM) 'halal' certification
will be promoted worldwide. Concerted efforts to develop Malaysia as world
halal hub to capture new markets worldwide would provide impetus for further
growth of the local food industry.
The market for convenience and functional foods is expected to grow rapidly in
view of the changing consumption patterns and greater awareness of healthy
lifestyles. In this regard, the production and supply of ready-to-use seafood,
livestock products and vegetable-based convenience food will be promoted as new
areas of investment. Palm oil and cocoa-based food ingredients will be further
developed in terms of products range and quality. The better performance in the
food products industry was also due to greater efforts undertaken by the
industry to keep pace with advancement in technology.
Note : The Ninth Malaysia Plan (9MP) was tabled in Parliament on March 31,
2006, is the five-year blueprints within the new National Mission policy and
implementation framework from now until 2010. Malaysia is expected to see some
structural changes and improved performance in the economy.
OVERALL INDUSTRY OUTLOOK : Strong Growth
COMMENTS
Incorporated in 2002, the SC is principally engaged in trading of grocery goods
such as onions, garlic, gingers, potatoes, rice, flour and etc. Being a private
limited company, the SC's paid up capital stands at RM500,000 and the shares
are held by Teh's family members. Over the years, the SC has slowly been
building up contacts and competing aggressively in the market.
Apart from serving to the domestic customers, the SC also exports some of its
products to China in order to capture higher market shares. Hence, the SC's
exposure to business risk is well diversified. Besides, its broad product range
has enabled the SC exposes to lower market risk as well. Presently, the SC is
overseen by its Director, Teh Heng Tian supported by 10 staff in its
operations. More efforts are expected from the management in order to compete
with its rivals.
The SC's latest available financial accounts with the Registrar of Companies
are for the year 2004 only. We are of the opinion that the financial accounts
are outdated and our comment on the SC's financial is restricted thereto.
The SC's supplies are obtained locally and internationally. Being involved in
import and export activities, the SC is likely to be exposed to currency
fluctuation risk.
The SC is clear of any litigation.
In view of the rising population and the lifestyle enhancement of consumers,
the demand for food is on the rise. With the promising outlook of the industry
performance, the business potential of the SC should be favourable.
In view of the above based on our assessment, we recommend credit be granted to
the SC under reliable guarantee.
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA
ACCOUNTING STANDARD.
PROFIT AND LOSS ACCOUNT
TEH HUP SENG TRADING SDN BHD
31-December-2004
|
Consolidated Accounts |
: |
NO |
|
UnQualified Reports |
: |
YES |
|
|
|
|
|
RM |
|
Turnover |
45,875,441.00 |
|
Operating Revenue |
0.00 |
|
|
---------------------
|
|
Profit/(Loss) Before Tax |
212,918.00 |
|
|
---------------------
|
|
|
|
|
Profit/(Loss) After Tax |
154,605.00 |
|
Extraordinary Item |
0.00 |
|
Minority Interest |
0.00 |
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders |
154,605.00 |
|
|
---------------------
|
|
|
|
|
Prior Period Adjustment |
0.00 |
|
Net Dividend |
0.00 |
|
Transferred To/From Reserved |
0.00 |
|
Others |
0.00 |
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward |
44,331.00 |
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward |
198,936.00 |
|
|
================
|
|
|
|
BALANCE SHEET |
|
TEH HUP SENG TRADING SDN BHD |
|
31-December-2004 |
|
Consolidated Accounts |
: |
NO |
|
UnQualified Reports |
: |
YES |
|
|
|
|
|
RM |
|
Fixed Assets |
317,057.00 |
|
Total Investment |
0.00 |
|
Amount Owing By |
0.00 |
|
Current Assets |
7,180,223.00 |
|
Intangible Assets |
0.00 |
|
Other Assets |
0.00 |
|
|
---------------------
|
|
Total Assets |
7,497,280.00 |
|
|
================
|
|
|
|
|
Working Capital |
637,124.00 |
|
|
|
|
Issued Capital |
500,000.00 |
|
Paid Up Capital |
500,000.00 |
|
Share Premium & Reserved |
0.00 |
|
Unappropriated Profit/(Loss) |
198,936.00 |
|
|
---------------------
|
|
Shareholder's Fund/Equity |
698,936.00 |
|
|
---------------------
|
|
|
|
|
Current Liabilities |
6,543,099.00 |
|
Amount Owing To |
0.00 |
|
Long-term and Deferred Liabilities |
255,245.00 |
|
Share Application Account |
0.00 |
|
Minority Interest |
0.00 |
|
|
---------------------
|
|
Total Equity Liability |
7,497,280.00 |
|
|
================
|
|
|
|
|
Contingent Liabilities |
0.00 |
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%)