|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
42524-M
|
|
COMPANY NAME
|
:
|
SYARIKAT CHUAN LEE RUBBER SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
17/10/1978
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
WISMA SELANGOR
DREDGING, SOUTH BLOCK, 142A JALAN AMPANG, 6TH FLOOR, 50450 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 1405, MUKIM
PEDAH, BATU 59, JALAN KUANTAN, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
TEL.NO.
|
:
|
09-2663522
|
|
FAX.NO.
|
:
|
09-2664254
|
|
CONTACT PERSON
|
:
|
ENG SEE TUAN ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
25199
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURING OF RUBBER
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
10,000,000.00 DIVIDED INTO
ORDINARY SHARE 10,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR
9,020,000.00 DIVIDED INTO
ORDINARY SHARES 1,214,470 CASH AND 7,805,530 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
STAFF STRENGTH
|
:
|
122 [2008]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
STRONG 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) manufacturing of rubber.
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. ENG SEE TUAN @ AKAU +
|
T-31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
440501-06-5187
7682076
|
5,720,000.00
|
|
MR. ENG KEAN KEONG +
|
31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
670705-06-5377
A0766235
|
902,000.00
|
|
MR. ENG SAI SOON +
|
89, SUNGAI JAN, 27000 JERANTUT, PAHANG, MALAYSIA.
|
701023-06-5205
A1716340
|
902,000.00
|
|
MR. TENG SENG +
|
T-139, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
550623-11-5039
8132271
|
902,000.00
|
|
MS. SHO LEONG +
|
T-31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
441221-06-5048
1332219
|
374,000.00
|
|
MR. LIEW FONG LOO
|
89 SUNGAI JAN, 27000 JERANTUT, PAHANG, MALAYSIA.
|
470520-01-5123
7864039
|
220,000.00
|
|
|
|
|
---------------
|
|
|
|
|
9,020,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. LEE SENG PIN
|
|
Address
|
:
|
6, JALAN PERDANA 7, TAMAN BUKIT PERDANA, 83000 BATU PAHAT, JOHOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
7533514
|
|
New IC No
|
:
|
510115-03-5271
|
|
Date of Birth
|
:
|
15/01/1951
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
15/02/2006
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MS. SHO LEONG
|
|
Address
|
:
|
T-31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
1332219
|
|
New IC No
|
:
|
441221-06-5048
|
|
Date of Birth
|
:
|
21/12/1944
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
17/10/1978
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. ENG SAI SOON
|
|
Address
|
:
|
89, SUNGAI JAN, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
A1716340
|
|
New IC No
|
:
|
701023-06-5205
|
|
Date of Birth
|
:
|
23/10/1970
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
13/05/1997
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. TENG SENG
|
|
Address
|
:
|
T-139, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
8132271
|
|
New IC No
|
:
|
550623-11-5039
|
|
Date of Birth
|
:
|
23/06/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
15/07/1991
|
DIRECTOR 5
|
Name Of Subject
|
:
|
MR. ENG KEAN KEONG
|
|
Address
|
:
|
31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
A0766235
|
|
New IC No
|
:
|
670705-06-5377
|
|
Date of Birth
|
:
|
05/07/1967
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
15/02/2006
|
DIRECTOR 6
|
Name Of Subject
|
:
|
MR. ENG SEE TUAN @ AKAU
|
|
Address
|
:
|
T-31, TAMAN JERANTUT, 27000 JERANTUT, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
7682076
|
|
New IC No
|
:
|
440501-06-5187
|
|
Date of Birth
|
:
|
01/05/1944
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
01/12/1983
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
ENG SEE TUAN
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
NG SIEW NGOH
|
|
|
Position
|
:
|
ACCOUNT MANAGER
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
RAYMOND ENG
|
|
|
Position
|
:
|
MARKETING MANAGER
|
|
|
|
|
|
|
4)
|
Name of Subject
|
:
|
LEE SENG PIN
|
|
|
Position
|
:
|
PRODUCTION MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
MOORES ROWLAND
|
|
Auditor' Address
|
:
|
142-A, JALAN AMPANG, WISMA SELANGOR, 50000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. LEE WAI NGAN
|
|
|
|
|
|
|
|
New IC No
|
:
|
580814-10-6300
|
|
|
Address
|
:
|
5-10, BLOCK A, SHANG VLLA, JALAN SS 7/15, KELANA JAYA, 47301
PETALING JAYA, SELANGOR, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
01/10/1982
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. CHAN TOYE YING
|
|
|
IC / PP No
|
:
|
8137409
|
|
|
New IC No
|
:
|
541214-06-5136
|
|
|
Address
|
:
|
18 JALAN UPIC, TAMAN PRIMA UKAY, SAUJANA MELAWATI, 53100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
15/07/1983
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
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
|
:
|
24/05/1989
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM5,200,000.00
|
|
Description Of Property Affected
|
:
|
|
FIXED & FLOATING CHARGE EMR 520 LOT 489 MK PEDAH DIST JERANTUT
CT 6391 LOT 1405 MK PEDAH DIST JERANTUT
|
|
|
Name & Address Of Chargee
|
:
|
|
DEVELOPMENT & COMMERCIAL BANK BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated 24/06/1989
|
|
Registered and Numbered 11 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
16/09/1991
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,500,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
DEVELOPMENT & COMMERCIAL BANK BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 12 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
02/09/1992
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
EMR 520 LOT 489 & CT 6391 LOT 1405 MK PEDAH, DIST JERANTUT
|
|
|
Name & Address Of Chargee
|
:
|
|
DEVELOPMENT & COMMERCIAL BANK BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated 07/09/1992
|
|
Registered and Numbered 13 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
24/01/1994
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
EMR 520, LOT 489 & CT 6391, LOT 1405, MK PEDAH, DIST JERANTUT,
STATE PAHANG FIXED & FLOATING CHARGE
|
|
|
Name & Address Of Chargee
|
:
|
|
DEVELOPMENT & COMMERCIAL BANK BHD
|
|
|
|
|
Form 40 Dated 29/01/1994
|
|
Registered and Numbered 14 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
17/08/1995
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM7,000,000.00
|
|
Description Of Property Affected
|
:
|
|
GM 1228, LOT 489 & CT 6391, LOT 1405, MK PEDAH, DIST JERANTUT
FIXED & FLOATING CHARGE
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated 19/08/1995
|
|
Registered and Numbered 15 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
03/07/2003
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM5,000,000.00
|
|
Description Of Property Affected
|
:
|
|
FIXED & FLOATING CHARGE EMR 520 LOT 489 MK PEDAH DIST JERANTUT
CT 6391 LOT 1405 MK PEDAH DIST JERANTUT
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 17 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
08/11/2005
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 18 In The Register of Charges
|
ENCUMBRANCE 8
|
Date of Creation
|
:
|
08/11/2005
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 19 In The Register of Charges
|
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
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
EUROPE
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT),LETTER OF CREDIT (LC)
|
|
Type of Customer
|
:
|
TYRE MANUFACTURER,MANUFACTURING INDUSTRIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Products manufactured
|
:
|
|
|
|
|
|
|
Award
|
:
|
|
1 ) MS ISO 9001 : 2000 Year :1999
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
FILMAX SDN BHD
|
|
HEVEAFIL SDN BHD
|
|
LEE RUBBER COMPANY (PTE)LTD
|
|
LINATEX RUBBER PRODUCTS SDN BHD
|
|
RUBBERFLEX SDN BHD
|
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
|
SMI ASSOCIATION OF MALAYSIA
|
|
|
|
|
|
|
Ownership of premises
|
:
|
|
|
Factory Size
|
:
|
|
|
Production Capacity
|
:
|
|
100 TONNES OF RUBBER PALLETS PER DAY
|
|
|
Total Number of Employees:
|
|
YEAR
|
2008
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
122
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing of rubber.
The SC's products range includes latex concentrate, rubber master batch &
compound, SMR GP, SMR 5, SMR 10, SMR 20 and tyre rubber.
We were informed that the SC produces rubber in a semi-finished form which
widely used in the manufacturing of tyres.
Besides that the SC has a warehouse located at the same premises to keep
stocks and materials.
The SC utilises advanced automated and semi-automated machineries to ensure
production of high quality products.
PROJECTS
No projects found in our databank
RECENT
DEVELOPMENT
No recent development was noted at the time of investigation.
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
09-2663522
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 1405, MK PEDAH, BT 59, JLN KUANTAN, 27000 JERANTUT, PAHANG.
|
|
Current Address
|
:
|
LOT 1405, MUKIM PEDAH, BATU 59, JALAN KUANTAN, 27000 JERANTUT,
PAHANG, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
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 conducted an interview with Ms Phang from the SC's Admin Department. She
revealed some information pertaining to the SC.
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.
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
|
6.3
|
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
|
5.0
|
|
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
|
3.4
|
|
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
|
6.0
|
|
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
|
1.8
|
|
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
|
5.5
|
|
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
|
7.7
|
|
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
|
|
25199 : Manufacture of other rubber products, n.e.c
|
|
|
|
|
INDUSTRY :
|
RUBBER PRODUCTS
|
|
|
|
|
|
|
Rubber continues to be an important source of export earnings for Malaysia
as well as a vital raw material for the rubber products manufacturing industries.
Malaysia's rubber products industry covers four sectors, namely latex, tyre
and tyre-related products, industrial and general rubber products and
footwear. Growth in rubber-based industries was supported by the booming
automotive industry, particularly in China.
|
|
Output of rubber is expected to record a positive growth in year 2008
assuming normal weather conditions would support both yields and tapping
activities. Rubber exports are expected to be lifted by higher prices and
increase in export volume in line with the rise in rubber production and
continued demand from the major importing countries. High commodity prices,
particularly for rubber, will continue to strengthen smallholders' incomes
and raise the purchasing power of the rural population.
|
|
This export-oriented industry posted substantial growth in 2007 and the
expansion of output is expected to continue in 2008. The industry is
currently in a consolidation phase. The bigger and more established players
are absorbing smallholders that may have been suffering losses due to
factors such as escalating raw-material costs and the strengthening
ringgit's adverse effects on demand. The global shortage in the supply of
natural rubber, which has exerted upward pressure on latex prices, has
inflicted particular damage on these smaller players. As such,
consolidation is seen to reduce the incidence of losses and can also
enhance efficiency in comparison with the advantages of scale economies.
While smaller firms are struggling with heftier costs, larger ones have
managed to pass on 80% of their additional raw-material overheads to
customers via higher selling prices. Furthermore, several industry players
are also looking at expanding and capturing a larger share of the global
pie through land acquisition and other capacity-building activities.
|
|
Production of rubber is also expected to expand, supported by firm rubber
prices, which are likely to encourage smallholders to increase tapping
activity. Utilisation of better clones and low intensity tapping system as
well as the use of stimulants is also envisaged to contribute to higher
output of rubber.
|
|
|
|
The Government continues to promote the development of Malaysia's
resourced-based industries to diversify the country's sources of growth. In
addition to fiscal incentives which are currently available for promoted
products and activities, the government has further fine-tuned the
incentives to promote specific activities among which is the rubber
products industry. To further encourage investments in resource-based
industries, local companies in the rubber industry that reinvest to expand
their projects are eligible for Pioneer Status or Investment Tax Allowance.
The rubber-based products industry needs to diversify into automated
manufacturing of value-added high technology, industrial and engineering
inputs for the automotive, construction, petroleum and transport industries
to sustain the momentum of its growth.
|
|
Malaysia is the world's leading producer and exporter of rubber products,
mainly consisting of catheters, latex thread and natural rubber medical
gloves. Malaysia is also the fifth largest consumer of natural rubber,
after People's Republic of China, USA, Japan and India. Malaysian exporters
should take advantage of the close relationship with OIC countries to grow
their exports. Other emerging markets are South Africa and South America,
particularly Brazil and Chile. The rubber products industry is dominated by
Malaysians and many Malaysian companies have developed into global players,
such as in rubber gloves and rubber thread. The future development of the
industry will depend on its ability to diversify and deepen the range of
products, especially with more synthetic rubber materials becoming available.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth
|
COMMENTS
|
Incorporated in 1978, the SC is principally engaged in manufacturing of
rubber. Being an exempt private company, the SC's paid up capital stands at
RM9.02million. Having been in the market for almost three decades, the SC
should have acquired certain market shares and established its own image
over times.
|
|
Its long presence in the industry coupled with its vast experiences should
enable the SC to build up an extensive clientele base. In order to further
grow the business, the SC ventured into export markets as some of its
products are exported to Europe. We believe that this global approach has
enabled the SC exposes to lower business risk and capture higher market
shares. Presently, the SC is headed by Managing Director, Eng See Tuan
supported by 122 employees in its operations.
|
|
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.
|
|
We noted that the SC's supplies are sourced locally and internationally.
Being involved in import and export activities, the SC is subjected to
currency fluctuation risk.
|
|
The SC is clear of any litigation.
|
|
The industry continues to be attractive and its upward trend is likely to
sustain in the near term. With the promising outlook of the industry performance,
the business potential of the SC should be favourable. Moreover, the SC has
competitive edge to compete with other players in the same field due to its
long establishment and strong capital background.
|
|
In view of the above and based on our assessment, we recommend credit be
granted to the SC with monitoring.
|
|
