|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
000011745-T
|
|
COMPANY NAME
|
:
|
SYED EBRAMSHA & CO
|
|
COMMENCEMENT DATE
|
:
|
01/01/1955
|
|
REGISTRATION DATE
|
:
|
24/02/1955
|
|
EXPIRY DATE
|
:
|
22/11/2009
|
|
BUSINESS CONSTITUTION
|
:
|
PARTNERSHIP
|
|
|
|
|
|
BUSINESS ADDRESS
|
:
|
92, LEBUH PENANG, 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
TEL.NO.
|
:
|
04-2611946/7377
|
|
FAX.NO.
|
:
|
04-2662798
|
|
CONTACT PERSON
|
:
|
RAHMATUHULLAH S/O SALAHUDDEEN ( EXECUTIVE DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51239
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF SPICES AND CURRY POWDER PULSES, SEED AND
OTHER FOOD PRODUCT
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
10 [2008]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
|
|
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
STRONG GROWTH
|
HISTORY
/ BACKGROUND
The SC commenced its business on 01/01/1955 as a PARTNERSHIP.
The SC is a partnership firm registered under the Business Registration Act.
The partners liabilities are unlimited, that is, if the partnership is not
able to meet its obligations, the partners have to be personally liable for
the debts incurred. The SC's ownership is transferable with consent of the
other partners. The SC as a partnership firm is governed by the Partnership
Act. The SC is not required to file in its financial statements with the
Registry of Business.
The SC is principally engaged in the (as a / as an) trading of spices and
curry powder pulses, seed and other food product.
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 owner of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MR. ABU BAKAR BIN SALAHUDDEEN
|
357, LENGKOK PEMANCAR, , 11700 GELUGOR, PULAU PINANG, MALAYSIA.
|
811030-07-5863
|
20.00
|
|
MR. MOHAMED SHAFI BIN ABDUL RAHIM
|
92, LEBUH PENANG, , 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
631004-11-5229
7213011
|
20.00
|
|
MR. RAHMATHULLAH S/O SALAHUDDEEN
|
87, JALAN SUNGAI PINANG, , 10150 PULAU PINANG, PULAU
PINANG, MALAYSIA.
|
720612-71-5353
8306571
|
20.00
|
|
MR. SALAHUDDEEN S/O N A EBRAHIMSHA
|
92, LEBUH PENANG, , 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
420107-71-5059
0278912
|
20.00
|
|
MS. ZEENATH BIVI BTE SALAHUDDEEN
|
357, LENGKOK PEMANCAR, , 11700 GELUGOR, PULAU PINANG, MALAYSIA.
|
770925-71-5050
A3707090
|
20.00
|
|
|
|
|
---------------
|
|
|
|
|
100.00
|
|
|
|
|
============
|
+ Also Director
OWNERS
OWNER(S) 1
|
Name Of Subject
|
:
|
MR. SALAHUDDEEN S/O N A EBRAHIMSHA
|
|
Address
|
:
|
92, LEBUH PENANG, 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
0278912
|
|
New IC No
|
:
|
420107-71-5059
|
|
Date of Birth
|
:
|
07/01/1942
|
|
Nationality
|
:
|
MALAYSIAN INDIAN
|
|
Date of Appointment
|
:
|
01/01/1974
|
OWNER(S) 2
|
Name Of Subject
|
:
|
MR. MOHAMED SHAFI BIN ABDUL RAHIM
|
|
Address
|
:
|
92, LEBUH PENANG, 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
7213011
|
|
New IC No
|
:
|
631004-11-5229
|
|
Date of Birth
|
:
|
04/10/1963
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
01/01/1993
|
OWNER(S) 3
|
Name Of Subject
|
:
|
MR. RAHMATHULLAH S/O SALAHUDDEEN
|
|
Address
|
:
|
87, JALAN SUNGAI PINANG, 10150 PULAU PINANG, PULAU
PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
8306571
|
|
New IC No
|
:
|
720612-71-5353
|
|
Date of Birth
|
:
|
12/06/1972
|
|
Nationality
|
:
|
MALAYSIAN INDIAN
|
|
Date of Appointment
|
:
|
01/01/1993
|
OWNER(S) 4
|
Name Of Subject
|
:
|
MR. ABU BAKAR BIN SALAHUDDEEN
|
|
Address
|
:
|
357, LENGKOK PEMANCAR, 11700 GELUGOR, PULAU PINANG,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
811030-07-5863
|
|
Date of Birth
|
:
|
30/10/1981
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
31/12/2000
|
OWNER(S) 5
|
Name Of Subject
|
:
|
MS. ZEENATH BIVI BTE SALAHUDDEEN
|
|
Address
|
:
|
357, LENGKOK PEMANCAR, 11700 GELUGOR, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
A3707090
|
|
New IC No
|
:
|
770925-71-5050
|
|
Date of Birth
|
:
|
25/09/1977
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
31/12/2000
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
RAHMATUHULLAH S/O SALAHUDDEEN
|
|
|
Position
|
:
|
EXECUTIVE DIRECTOR
|
|
|
|
|
|
AUDITOR
No Auditor found in our databank
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.
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.
PAYMENT
RECORD
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
Import Countries
|
:
|
INDIA,INDONESIA,PAKISTAN,MIDDLE EAST
|
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
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH,TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
FOOD MANUFACTURERS,DEALERS
|
The SC only gives credit term terms to its long term customers. It prefers
cash sales from new customers.
The SC has established customers throughout Peninsular and East Malaysia.
OPERATIONS
|
Goods Traded
|
:
|
|
SPICES & CURRY POWDER PULSES, SEEDS AND OTHER FOOD
PRODUCTS
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
CHOP SIANG HENG
|
|
K.P MOHAMED KASSIM
|
|
LIM CHIN KEE COMMERCIAL FIRM
|
|
OOI BENG HUAT TRADING CO
|
|
SRI MAJU JAYA TRADING
|
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2008
|
2007
|
2006
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
10
|
5
|
1
|
|
|
|
|
|
|
|
Branch
|
:
|
|
|
No of Branches
|
:
|
|
|
|
|
|
|
Branch(es)
|
:
|
|
40 B, JLN PERUSAHAAN RINGAN 3, BAGAN LALLANG, 13400
BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
Tel No: 04-3246800
|
|
Fax No: 04-3242800
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of spices and
curry powder pulses, seed and other food product.
The SC is a wholesaler of a wide range of spices, food ingredients, curry
powder, food colorings and others.
The SC mainly supplies its spices to the major curry powder manufacturers
such as BABAS, ALAGAPPAS and others.
The SC has a warehouse in Jalan Perusahaan Ringan 3, Butterworth, Penang.
According to the SC, the demand for the spices is good.
PROJECTS
No projects found in our databank
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
|
:
|
04-2611946/7377
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
92, LEBUH PENANG, 10200 PULAU PINANG, PULAU PINANG.
|
|
Current Address
|
:
|
92, LEBUH PENANG, 10200 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
We contacted one of the SC's Director, Mr Rahmatullah. He furnished some
information on the SC.
FINANCIAL
COMMENTS
We
are unable to comment on the SC financial position as the SC is not required
by the law to file its financial statement in the Registrar of Business.
ECONOMIC
/ INDUSTRY OUTLOOK
|
Major Economic Indicators:
|
2004
|
2005
|
2006
|
2007*
|
2008**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
25.58
|
26.13
|
26.64
|
27.17
|
27.73
|
|
Gross Domestic Products ( % )
|
7.1
|
5.3
|
5.8
|
6.0
|
6.5
|
|
Domestic Demand ( % )
|
7.5
|
7.3
|
7.0
|
9.0
|
6.8
|
|
Private Expenditure ( % )
|
13.1
|
9.5
|
7.0
|
8.6
|
8.2
|
|
Consumption ( % )
|
10.5
|
9.2
|
7.1
|
9.0
|
7.9
|
|
Investment ( % )
|
25.8
|
8.5
|
7.0
|
7.1
|
9.5
|
|
Public Expenditure ( % )
|
<2.1>
|
3.6
|
6.8
|
10.1
|
3.2
|
|
Consumption ( % )
|
6.0
|
5.4
|
5.0
|
10.8
|
5.5
|
|
Investment ( % )
|
<8.7>
|
1.9
|
8.9
|
9.3
|
0.5
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
80,663
|
99,760
|
108,192
|
99,965
|
99,599
|
|
Government Finance ( MYR Million )
|
<19,419>
|
<18,684>
|
<19,109>
|
<19,948>
|
<20,933>
|
|
Government Finance to GDP / Fiscal Deficit ( % )
|
<4.3>
|
<3.8>
|
<3.3>
|
<3.2>
|
<3.1>
|
|
Inflation ( % Change in Composite CPI)
|
1.4
|
3.1
|
3.9
|
4.0
|
4.0
|
|
Unemployment Rate
|
3.5
|
3.5
|
3.4
|
3.5
|
3.3
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion )
|
254
|
266
|
290
|
-
|
-
|
|
Average Risk-Weighted Capital Adequacy Ratio ( % )
|
13.84
|
13.63
|
12.91
|
-
|
-
|
|
Average 3 Months of Non-performing Loans ( % )
|
8.46
|
6.74
|
5.41
|
-
|
-
|
|
Average Base Lending Rate ( % )
|
5.99
|
6.00
|
6.61
|
-
|
-
|
|
Business Loans Disbursed( % )
|
10.5
|
8.7
|
<2.5>
|
-
|
-
|
|
Foreign Investment ( MYR Million )
|
13,143.9
|
17,882.9
|
20,228.0
|
-
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
38,580
|
37,474
|
38,293
|
-
|
-
|
|
Registration of New Companies ( % )
|
6.8
|
<2.9>
|
2.2
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
3,334
|
3,069
|
8,647
|
-
|
-
|
|
Liquidation of Companies ( % )
|
<15.8>
|
<7.9>
|
181.8
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
189,206
|
193,095
|
216,147
|
-
|
-
|
|
Registration of New Business ( % )
|
4.6
|
2.1
|
11.9
|
-
|
-
|
|
Business Dissolved ( No. )
|
51,301
|
73,355
|
52,879
|
-
|
-
|
|
Business Dissolved ( % )
|
7.0
|
43.0
|
<27.9>
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
380.6
|
400.8
|
374.1
|
-
|
-
|
|
Cellular Phone Subscribers ( Million )
|
14.6
|
18.5
|
19.5
|
21.3
|
-
|
|
Tourist Arrival ( Million Persons )
|
15.7
|
16.7
|
17.5
|
20.1
|
-
|
|
Hotel Occupancy Rate ( % )
|
60.8
|
63.6
|
64.8
|
-
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
19.3
|
13.9
|
15.4
|
-
|
-
|
|
Bad Cheque Offenders (No.)
|
70,465
|
57,316
|
36,555
|
-
|
-
|
|
Individual Bankruptcy ( No.)
|
16,251
|
15,868
|
13,596
|
-
|
-
|
|
Individual Bankruptcy ( % )
|
31.6
|
<2.4>
|
<14.3>
|
-
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2004
|
2005
|
2006
|
2007*
|
2008**
|
|
|
|
|
|
|
|
|
Agriculture
|
5.0
|
2.5
|
5.3
|
3.1
|
3.5
|
|
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
|
|
% of Industry Non-Performing Loans
|
1.38
|
1.19
|
1.06
|
1.08
|
0
|
|
|
|
|
|
|
|
|
Mining
|
3.9
|
0.8
|
<0.4>
|
3.3
|
4.0
|
|
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
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
9.8
|
5.1
|
7.3
|
3.1
|
3.8
|
|
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
|
-
|
|
% of Industry Non-Performing Loans
|
17.3
|
12.7
|
12.7
|
14.1
|
-
|
|
|
|
|
|
|
|
|
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
|
-
|
|
|
|
|
|
|
|
|
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
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary
|
|
|
|
|
|
|
** Forecast
|
|
|
|
|
|
|
# Based On
Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
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
|
Formed in 1955 as a partnership, the SC is principally engaged in the
trading of spices and curry powder pulses, seed and other food products.
With its long presence in the industry coupled with its vast experiences in
the business, the SC should have built up certain goodwill with its clients
over times.
|
|
Over the years, the SC has established a wide and stable clientele base in
the market. At present, the local market remains the SC's biggest market.
It depends solely on the sales in the domestic market to achieve its profitability.
As such, its business risk is high compared to the export oriented
companies. However, its vast business experience and extensive network has
well mitigated its business risk. Being a small entity with a staff
strength of 10, the SC's overall management capability is regarded average.
More efforts are expected from the management in order to compete with its
rivals.
|
|
As the SC is registered as a partnership, its financial statements are not
available for analysis. As such, we are unable to ascertain the SC's
financial strength. The SC's ability to meet obligations is very much
dependent on the partner's financial strength.
|
|
Besides obtaining its resources locally, the SC also imports from overseas
countries such as India, Indonesia, Pakistan and Middle East. Due to its
long establishment, we believe that the SC does not face significant
problem in getting its resources.
|
|
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. Hence, with its vast
experience in the business, the SC should be able to retain its market
position.
|
|
In view of the above and based on our assessment, we recommend credit be
granted to the SC under guarantee.
|
|
