|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
57450-X
|
|
COMPANY NAME
|
:
|
KWANTAS OIL SDN BHD
|
|
FORMER NAME
|
:
|
FORDECO OIL
SDN BHD (04/06/1991)
FORDECO OIL & TRANSPORT SDN BHD (30/09/1987)
KWAN AH HEE MOULDINGS SDN BHD (12/11/1986)
|
|
INCORPORATION DATE
|
:
|
21/04/1980
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
FORDECO BUILDING, JALAN SINGA MATA, 1ST FLOOR, 91000 TAWAU, SABAH,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
CPS TOWER, 6TH FLOOR, SUITE 1-6-W9, CENTRE POINT SABAH, 88000 KOTA
KINABALU, SABAH, MALAYSIA.
|
|
TEL.NO.
|
:
|
088-251111
|
|
FAX.NO.
|
:
|
088-253399
|
|
EMAIL
|
:
|
info@kwantas.com.my
|
|
WEB SITE
|
:
|
www.kwantas.com.my
|
|
CONTACT PERSON
|
:
|
WINSON CHONG KAN HIUNG ( EXECUTIVE DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
15143 51411
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURING, TRADING & MARKETING OF PALM OIL PRODUCTS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
100,000,000.00 DIVIDED INTO
ORDINARY SHARE 100,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR
85,498,490.00 DIVIDED INTO
ORDINARY SHARES 3,001,000 CASH AND 82,497,490 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 1,602,246,754 [2007]
|
|
NET WORTH
|
:
|
MYR 223,242,384 [2007]
|
|
M1000 OVERALL RANKING
|
:
|
167[2005]
|
|
M1000 INDUSTRY RANKING
|
:
|
14[2005]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
3,278 [2008]
|
|
BANKER (S)
|
:
|
|
HSBC BANK
MALAYSIA BHD
MALAYAN BANKING BHD
|
|
|
|
LITIGATION
|
:
|
TRACED
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
GOOD
|
|
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) manufacturing, trading
& marketing of palm oil products.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The SC is 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.
|
According to the Malaysia 1000 publication, the SC's ranking are as
follows:
|
|
|
|
|
|
|
YEAR
|
2005
|
2004
|
|
|
OVERALL RANKING
|
167
|
198
|
|
|
INDUSTRY RANKING
|
14
|
11
|
|
The immediate holding company of the SC is KWANTAS CORPORATION BHD, a company
incorporated in MALAYSIA.
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
KWANTAS CORPORATION BHD
|
FORDECO BUILDING, JALAN SINGA MATA, 1ST FLOOR, 91100 LAHAD DATU,
SABAH, MALAYSIA.
|
356602
|
85,498,490.00
|
|
|
|
|
---------------
|
|
|
|
|
85,498,490.00
|
|
|
|
|
============
|
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
|
Local No
|
Company
|
(%)
|
As At
|
|
179828
|
MAXIMLINK ENTERPRISE SDN BHD
|
100
|
30/06/2006
|
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. KWAN NGEN WAH
|
|
Address
|
:
|
MDLD 1419, MILE 1, JALAN SILAME, 91100 LAHAD DATU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0266233
|
|
New IC No
|
:
|
580222-12-5049
|
|
Date of Birth
|
:
|
22/02/1958
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
21/11/1986
|
|
|
|
|
|
|
|
|
|
Working Experience
|
:
|
16 YEARS WORKING EXPERIENCE IN THE OIL PALM INDUSTRY & STONE
QUARRING OPERATION.
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. KWAN NGEN CHUNG
|
|
Address
|
:
|
MDLD 1419, MILE 1, JALAN SILAM, 91100 LAHAD DATU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0469507
|
|
New IC No
|
:
|
600712-12-5821
|
|
Date of Birth
|
:
|
12/07/1960
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
21/11/1986
|
|
|
|
|
|
|
|
|
|
Working Experience
|
:
|
MORE THAN 15 YEARS EXPERIENCE PRINCIPALLY IN THE OIL PALM INDUSTRY.
EXPERIENCE IN STONE QUARRING OPERATIONS, RD CONSTRUCTION & PROPERTY
DEVELOPMENT. HIS EXPERIENCE COVERS EXTANSIVE WORKING KNOWLEDGE IN THE
OVERALL MGTE OF THE GROUP'S OIL PALM ESTATES & PA
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. CHONG KAN HIUNG
|
|
Address
|
:
|
9, TAMAN BUNGA RAYA, BATU 3 1/2, JALAN PENAMPANG, 88300 KOTA
KINABALU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0605636
|
|
New IC No
|
:
|
631108-12-5501
|
|
Date of Birth
|
:
|
08/11/1963
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
01/04/2000
|
|
|
|
|
|
|
|
|
|
Working Experience
|
:
|
FINANCIAL CONTROLLER & JOINT CO SECRETARY OF KCB. STARTED CAREER
WITH HANAFIAH RASLAN & MOHAMAD/ARTHUR ANDERSEN IN 1988 AS AN AUDITOR.
JOINED ERNST & YOUNG IN 1989 & WAS THE TAX MANAGER OF THE FIRM
BEFORE JOINING KCB. HE RESPONSIBLE FOR ACCOUNTING, INTERNAL CONTROL, CO
SECRETARIAL MATTERS & FINANCIAL FUN MEMBER OF ACCA, UK & MIA.
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MS. KWAN JIN NGET
|
|
Address
|
:
|
MDLD 1419, BATU 1, JALAN SILAM, 91100 LAHAD DATU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0785612
|
|
New IC No
|
:
|
671123-12-5354
|
|
Date of Birth
|
:
|
23/11/1967
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
23/08/1996
|
|
|
|
|
|
Qualification
|
:
|
BBA UNIVERSITY OF IOWA, USA IN 1989.
|
|
Working Experience
|
:
|
JOINED THE GROUP IN 1990 AS ADMIN MANAGER, RESPONSIBLE FOR THE
COORDINATION & EFFICIENT OPERATIONS OF THE GROUP'S ELECTRONIC DATA
PROCESSING DEPT, HUMAN RESOURCE MGTE & GENERAL ADMIN.
|
DIRECTOR 5
|
Name Of Subject
|
:
|
MS. KWAN MIN NYET
|
|
Address
|
:
|
MDLD 1419, BATU 1, JALAN SILAM, 91100 LAHAD DATU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0752349
|
|
New IC No
|
:
|
690102-12-6036
|
|
Date of Birth
|
:
|
02/01/1969
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
23/08/1996
|
|
Qualification
|
:
|
B.B.A. UNIVERSITY OF IOWA, USA IN 1989.
|
|
Working Experience
|
:
|
BEEN WITH THE GROUP SINCE 1990 AS FINANCE MANAGER. SHE IS THE
FINANCIAL CONTROLLER OF THE GROUP RESPONSIBLE FOR THE FINANCIAL & MGTE
ACCOUNTING FUNCTIONS.
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
WINSON CHONG KAN HIUNG
|
|
|
Position
|
:
|
EXECUTIVE DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
CHRISTOPHER CHAI FOO YIN
|
|
|
Position
|
:
|
GENERAL MANAGER
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
ALVIN CHONG TECK CHENG
|
|
|
Position
|
:
|
GROUP ACCOUNTANT
|
|
|
|
|
|
|
4)
|
Name of Subject
|
:
|
RACHAEL KWAN FEI FEN
|
|
|
Position
|
:
|
CORPORATE AFFAIRS MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
ERNST & YOUNG
|
|
Auditor' Address
|
:
|
MPT 4604, LOT 17-28, BLOCK B, BANDARAN BARU, JALAN BARU, 3RD FLOOR,
91000 TAWAU, SABAH, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. CHONG KAN HIUNG
|
|
|
IC / PP No
|
:
|
H0605636
|
|
|
New IC No
|
:
|
631108-12-5501
|
|
|
Address
|
:
|
9, TAMAN BUNGA RAYA, BATU 3 1/2, JALAN PENAMPANG, 88300 KOTA
KINABALU, SABAH, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
23/08/1996
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. KWAN CHIEW GIOK
|
|
|
IC / PP No
|
:
|
H0141596
|
|
|
New IC No
|
:
|
560917-12-5362
|
|
|
Address
|
:
|
MDLD 4600, BATU 1, JALAN SILAM, 91100 LAHAD DATU, SABAH, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
01/04/1999
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
HSBC BANK MALAYSIA BHD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
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
|
:
|
26/11/1990
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM4,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 08/12/1990
|
|
Registered and Numbered 2 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
30/01/1992
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM4,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 10/03/1992
|
|
Registered and Numbered 4 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
04/11/1993
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
MALAYAN BANKING BHD
|
|
MDLD 1280-1282, BLOCK 24, JALAN LILY, 91100 LAHAD DATU, SABAH,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 24/11/1993
|
|
Registered and Numbered 5 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
01/10/1994
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM7,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
MALAYAN BANKING BHD
|
|
MDLD 1280-1282, BLOCK 24, JALAN LILY, 91100 LAHAD DATU, SABAH,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 17/10/1994
|
|
Registered and Numbered 7 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
21/06/1996
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM10,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
MALAYAN BANKING BHD
|
|
MDLD 1280-1282, BLOCK 24, JALAN LILY, 91100 LAHAD DATU, SABAH,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 13/08/1999
|
|
Registered and Numbered 10 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
02/09/1998
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
O/D
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
HONGKONG BANK MALAYSIA BHD
|
|
P. O. BOX 1, 91007 TAWAU, SABAH, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 12 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
21/07/1999
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM55,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
HSBC BANK MALAYSIA BHD
|
|
56, JALAN GAYA, 88000 KOTA KINABALU, SABAH, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 13/08/1999
|
|
Registered and Numbered 13 In The Register of Charges
|
LEGAL
CHECK AGAINST 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 Malaysia back dated since 1900.
|
LEGAL ACTION
|
|
|
|
|
|
Code No
|
:
|
22
|
Case No
|
:
|
670
|
|
|
|
|
|
|
Year
|
:
|
1998
|
Place
|
:
|
KUALA LUMPUR
|
|
|
|
|
|
|
Court
|
:
|
HIGH COURT
|
|
|
|
|
|
|
|
|
|
Date Filed
|
:
|
18/03/1998
|
|
|
|
|
|
|
|
|
|
Solicitor
|
:
|
LEE HISHAMMUDDIN ALLEN & GLEDHILL
|
|
|
|
|
|
|
|
|
|
Plaintiff
|
:
|
RHB BANK BHD
|
|
|
|
|
Defendants
|
:
|
|
KWANTAS OIL SDN BHD (57450)
|
|
FORDECO BLDG, JLN SINGA MATA, 1ST FLR, 91100 LAHAD DATU, SABAH,
MALAYSIA.
|
|
|
|
& ANOR
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
7,907,838.54
|
|
|
|
|
|
|
|
|
|
Nature of Claim
|
:
|
LOAN
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE:
|
Please check with creditors for confirmation as alleged debts may
have been paid since recorded or are being disputed. The person wo has been
sued has the same name as the subject. However, we are unable to determine
whether the person sued is the one and the same person.
|
|
No winding up petition was found in our databank
|
|
|
|
|
PAYMENT
RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
|
Local
|
:
|
YES
|
|
|
Overseas
|
:
|
YES
|
|
|
Import Countries
|
:
|
ASIA
|
The SC refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data
we conclude that :
|
OVERALL PAYMENT HABIT
|
|
Prompt
|
[
|
|
]
|
|
Good
|
[
|
|
]
|
|
Average
|
[
|
X
|
]
|
|
|
Fair
|
[
|
|
]
|
|
Poor
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA, EUROPE
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
END USERS,FOOD MANUFACTURERS
|
|
|
|
|
|
|
|
OPERATIONS
|
Products manufactured
|
:
|
|
EDIBLE OIL AND OTHER PALM OIL PRODUCTS - RBD PALM OIL, RDB PALM
OLEIN, RDB PALM STERIN, PALM FATTY ACID DISSTRILLE
|
|
|
|
|
|
|
Goods Traded
|
:
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
CARGILL PALM PRODUCTS SDN BHD
|
|
LADANG SUNGAI TERAH SDN BHD
|
|
LAM SOON (M) BHD
|
|
LAM SOON EDIBLE OILS SDN BHD
|
|
PALMAJU EDIBLE OIL SDN BHD
|
|
|
|
|
|
|
Ownership of premises
|
:
|
|
|
Total Number of Employees:
|
|
YEAR
|
2008
|
2007
|
|
|
|
|
GROUP
|
3,278
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
496
|
300
|
|
|
|
|
|
|
|
|
Branch
|
:
|
|
|
No of Branches
|
:
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing, trading
& marketing of palm oil products.
The SC is under the Kwantas Corporation Berhad and the Group's core business
in palm oil based activities including plantations, oil mills, palm kernel
crushing, refineries and palm oil bulking facilities, making Kwantas an
integrated palm oil producer.
The oil palm plantations are strategically located around Lahat Datu where
the oil palm fruit can be easily and quickly transported to the oil mills
refinery for processing.
The SC's operations are divided into 3 divisions. They are the palm oil mill
division, kernel crushing plant division and palm oil refinery mill division.
Under the palm oil mill division, the SC undertakes the processing of fresh
fruit bunch (palm oil) from its group's estates,
The SC has its own kernel crushing plant for processing palm kernel into palm
kernel oil (PKO) and palm kernel cake (PKC).
From its kernel crushing plant, the SC's semi-finished products are sent to
its palm oil refinery mill to refine CPO into edible oil and other palm oil
products. .
Besides that the SC is also involved in wholesaling and supplying of diesel
and lubricants.
According to the SC, it has another Sales Office located in Inanam, Sandakan
and Tawau.
The SC sells a wide range of palm oil products including RBD Olein, RBD Palm
Oil, RBD Palm Stearin, Palm Fatty Acid Distillate, Crude Palm Oil, Crude Palm
Kernel Oil, RBD Kernel Oil, Palm Kernel Expeller and Palm Kernel.
PROJECTS
No projects found in our databank
RECENT DEVELOPMENT
We have made a check with Malaysian National News Agency's (BERNAMA) database
but no recent development was noted in our investigations.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
088-251111
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
CPS TOWER, 6TH FLOOR, SUITE 1-6-W9, CENTRE POINT SABAH, 88000 KOTA
KINABALU, SABAH.
|
|
Current Address
|
:
|
CPS TOWER, 6TH FLOOR, SUITE 1-6-W9, CENTRE POINT SABAH, 88000 KOTA
KINABALU, SABAH, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the Senior staff from the Finance Department. She
provided some information on the SC.
FINANCIAL COMMENTS
The financial
summary of the SC in Year 2007 showed that it was financially FAIR. The SC
has generated an acceptable return on its shareholders' funds, indicating
that the SC was efficient in utilising its shareholders' funds to generate
returns. Besides this, it also has an adequate liquidity position with its
current liabilities well covered by its current assets. With its net current
assets, the SC should be able to repay its short term obligations. However, a
high gearing ratio has placed the SC at high financial risk.
Overall financial condition of the SC : FAIR
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
|
6.0
|
|
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
|
|
15143 : Manufacture of refined palm oil
|
|
51411 : Wholesale of petrol, diesel, lubricants, etc.
|
|
|
|
|
INDUSTRY :
|
PALM OIL
|
|
|
|
|
|
|
The Plantation and Commodities Minister, Peter Chin Fah Kui said that palm
oil prices are expected to stay between RM3,500 and RM3,600 a tonne in the
short term on the strong demand and the shortage of vegetable oils
worldwide. Besides, the high demand for biodiesel also could influence the
price of palm oil in the industry as 16 million metric tonnes of palm oil
output, six million will be used for biodiesel and the rest for food. In
the long term, palm oil prices are expected to stay above RM3,600 a tonne
but this will depend on the crude oil price.
|
|
Government is encouraging the cultivation of palm oil areas which are
suitable and will adopt sustainable agricultural practice. Hence, the
government has offered incentives to those involved in the cultivation of
palm oil, especially to smallholders to replant or plant new crops.
|
|
The Malaysian Palm Oil Board (MPOB) expects palm oil export earnings to
touch a record RM50bil this year on anticipation that the price of the
commodity will maintain its bullish run. Palm export revenue jumped 41.8%
to RM45.1bil last year compared with RM31.8bil in 2006. China maintained
its position as the largest importer of Malaysian palm oil for the sixth
consecutive year, accounting for 3.84 million tonnes, or 27.9% of the
exports.
|
|
According to the Chairman, Datuk Sabri Ahmad, he said that the continued
tight supply and high demand for vegetable oils as well as adverse weather
conditions could see a continued bull run in palm oil prices this year and
next. Therefore, the world demand for vegetable oils and fats is expected
to increase within the next three to four years.
|
|
He said the palm oil industry recorded a phenomenal performance in 2007,
with average palm oil price having risen 67.5% to RM2,530.50 per tonne in
2007 from RM1,510.50 in 2006.
|
|
Nonetheless, the production of crude palm oil declined marginally by 0.4%
from 15.9 million tonnes to 15.8 million tonnes in 2007. The total oil palm
planted area increased 3.4% in 2007 to 4.304 million ha from 4.165 million
ha in 2006. For the year 2007, palm oil exports fell 4.8% to from 14.4
million tonnes to 13.7 million compared to the previous year.
|
|
Malaysia has teamed up with Indonesia to counter anti-palm oil propaganda
among the Western non-government organizations (NGOs) as about 85 percent
of the world palm oil is produced by Malaysia and Indonesia. This NGOs in
the West purposely launch the campaigns to tarnish to product's good name
even though they know it's not true.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
COMMENTS
|
Incorporated in 1980, the SC is principally engaged in manufacturing,
trading and marketing of palm oil products. Being a private limited
company, the SC has a large paid up capital of RM85.5million which allows
the SC to further expand its business in the near term. Under the control of
its holding company, the SC is expected to enjoy timely assistance when the
needs arise. With its long track record in the industry, the SC should have
built up certain goodwill with its clients over times.
|
|
Over the years, the SC has firmly established a wide and stable network
both locally and internationally. We believe that with long experience in
the business, the SC should have received strong support from its loyal
customers and business associates. Apart from serving the local market, the
SC's customer's base has broaden to cover Europe and Asia countries. Such
an extensive network has minimised its business risk and better growth
prospect can be expected. To date, the Group has 3,278 employees in its
business operations and more efforts are expected from the management in
order to sustain its growth momentum.
|
|
During the financial year 2007, the SC's turnover and pre-tax profit stood
at RM1.6billion and RM39.03million. Return on shareholders' funds was at an
acceptable range, indicating that the management was efficient in utilising
its funds to generate returns. Besides, the SC possesses an adequate
liquidity position as it does not face any difficulties in meeting its
short term obligations. Although the SC's liability ratio is high, it is
mainly due to high current liabilities rather than long term debt. However,
the high current liabilities are well covered by its large current assets,
indicating that the SC does not face any shortage in short term working
capital. Given a huge net worth of RM223.24million, the SC should be able
to maintain its business in the near term.
|
|
Besides obtaining its raw materials locally, the SC also imports from
overseas countries. Due to its long establishment, we believe that the SC
has built up a stable supplier base. Thus, it does not face significant
problem in getting its resources.
|
|
Based on our historical financial data, the SC's overall payment habit is
average.
|
|
The industry remains robust with the encouraging demand for its products.
Although the market is highly competitive, the SC should be able to sustain
its market shares due to its reputation and years of establishment.
|
|
In view of above and based on our assessment, we recommend credit be
granted to the SC promptly.
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA
ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
KWANTAS OIL SDN BHD
|
|
30-June-2007
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
1,602,246,754.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
39,027,485.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
36,069,405.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
36,069,405.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
566,135.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
102,240,624.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
137,743,894.00
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
KWANTAS OIL SDN BHD
|
|
30-June-2007
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
88,848,377.00
|
|
Total Investment
|
42,712,878.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
480,092,954.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
611,654,209.00
|
|
|
================
|
|
|
|
|
Working Capital
|
102,966,526.00
|
|
|
|
|
Issued Capital
|
85,498,490.00
|
|
Paid Up Capital
|
85,498,490.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
137,743,894.00
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
223,242,384.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
377,126,428.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
11,285,397.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
611,654,209.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
KWANTAS OIL
SDN BHD
|
|
For The Year
Ended 30-June-2006
|
|
|
|
|
|
|
2006
|
2005
|
|
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
TURNOVER
|
1,024,764,282
|
1,217,449,695
|
|
|
==========
|
==========
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
<9,748,818>
|
5,944,186
|
|
|
|
|
|
|
------------
|
------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
<9,748,818>
|
5,944,186
|
|
Taxation
|
2,229,393
|
828,295
|
|
PROFIT/(LOSS) AFTER TAXATION
|
------------
<7,519,425>
|
------------
6,772,481
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
------------
<7,519,425>
|
------------
6,772,481
|
|
|
|
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD
|
------------
<7,519,425>
|
------------
6,772,481
|
|
As previous reported
|
133,260,548
|
147,608,555
|
|
Prior year adjustment
|
<3,161,083>
|
-
|
|
As restated
|
------------
130,099,465
|
------------
147,608,555
|
|
|
------------
|
------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
122,580,040
|
154,381,036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVIDENDS - Ordinary (paid & proposed)
|
<20,339,416>
|
<24,281,571>
|
|
|
|
|
|
|
|
|
|
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD
|
------------
102,240,624
==========
|
------------
130,099,465
==========
|
|
RETAINED BY: The Company
|
102,240,624
|
130,099,465
|
|
|
|
|
|
|
|
|
|
|
------------
102,240,624
==========
|
------------
130,099,465
==========
|
|
INTEREST EXPENSE (as per notes to PL)
|
|
|
|
|
|
|
|
Bank overdraft
|
68,702
|
61,213
|
|
Revolving loans
|
557,814
|
51,590
|
|
Hire purchase
|
5,119
|
14,788
|
|
bankers acceptance
|
8,701,211
|
7,500,610
|
|
overdue accounts
|
6,464,996
|
7,361,189
|
|
|
------------
15,797,842
==========
|
------------
14,989,390
==========
|
|
|
|
|
BALANCE SHEET
|
KWANTAS OIL
SDN BHD
|
|
As At
30-June-2006
|
|
|
|
|
|
|
2006
|
2005
|
|
|
MYR
|
MYR
|
|
|
|
|
|
ASSET EMPLOYED:
|
|
|
|
FIXED ASSETS
|
106,908,883
|
124,292,073
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
Subsidiary companies
|
33,068,279
|
33,068,279
|
|
|
|
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
------------
33,068,279
|
------------
33,068,279
|
|
TOTAL LONG TERM ASSETS
|
------------
139,977,162
|
------------
157,360,352
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Stocks
|
80,469,222
|
88,641,343
|
|
|
|
|
|
Trade debtors
|
87,337,320
|
108,258,860
|
|
Other debtors, deposits &
prepayments
|
144,224,543
|
247,689,161
|
|
Short term deposits
|
4,070,000
|
19,862,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash & bank balances
|
11,154,151
|
14,101,999
|
|
TOTAL CURRENT ASSETS
|
------------
327,255,236
|
------------
478,553,363
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Trade creditors
|
67,373,138
|
122,859,541
|
|
Other creditors & accruals
|
29,876,740
|
103,574,679
|
|
Hire purchase & lease
creditors
|
44,886
|
82,113
|
|
Bank overdraft
|
-
|
225,589
|
|
|
|
|
|
Other borrowings
|
-
|
6,767,849
|
|
|
|
|
|
Bill & acceptances payable
|
172,049,926
|
174,363,813
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
------------
269,344,690
|
------------
407,873,584
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
------------
57,910,546
|
------------
70,679,779
|
|
TOTAL NET ASSETS
|
------------
197,887,708
==========
|
------------
228,040,131
==========
|
|
|
|
|
|
FINANCED BY:
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
85,498,490
|
85,498,490
|
|
|
|
|
|
TOTAL SHARE CAPITAL
|
------------
85,498,490
|
------------
85,498,490
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
|
Retain profit/(Accumulated loss)
carried forward
|
102,240,624
|
130,099,465
|
|
|
|
|
|
TOTAL RESERVES
|
------------
102,240,624
|
------------
130,099,465
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
------------
187,739,114
|
------------
215,597,955
|
|
|
|
|
|
|
|
|
|
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
|
Hire purchase creditors
|
-
|
44,886
|
|
Deferred taxation
|
10,148,594
|
12,397,290
|
|
|
|
|
|
TOTAL LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
------------
10,148,594
|
------------
12,442,176
|
|
|
------------
|
------------
|
|
|
197,887,708
|
228,040,131
|
|
|
==========
|
==========
|
|
|
|
|
FINANCIAL RATIOS
|
KWANTAS OIL
SDN BHD
|
|
As At
30-June-2006
|
|
|
|
|
|
|
2006
|
2005
|
|
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
15,224,151
|
33,963,999
|
|
Net Liquid Funds
|
15,224,151
|
33,738,410
|
|
Net Liquid Assets
|
<22,558,676>
|
<17,961,564>
|
|
Net Current Assets/(Liabilities)
|
57,910,546
|
70,679,779
|
|
Net Tangible Assets
|
197,887,708
|
228,040,131
|
|
Net Monetary Assets
|
<32,707,270>
|
<30,403,740>
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Borrowings
|
44,886
|
7,120,437
|
|
Total Liabilities
|
279,493,284
|
420,315,760
|
|
Total Assets
|
467,232,398
|
635,913,715
|
|
Net Assets
|
197,887,708
|
228,040,131
|
|
Net Assets Backing
|
187,739,114
|
215,597,955
|
|
Shareholders" Funds
|
187,739,114
|
215,597,955
|
|
Total Share Capital
|
85,498,490
|
85,498,490
|
|
Total Reserves
|
102,240,624
|
130,099,465
|
|
|
|
|
|
LIQUIDITY(Times)
|
|
|
|
Cash Ratio
|
0.06
|
0.08
|
|
Liquid Ratio
|
0.92
|
0.96
|
|
Current Ratio
|
1.22
|
1.17
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
29
|
27
|
|
Debtors Ratio
|
31
|
32
|
|
Creditors Ratio
|
24
|
37
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0
|
0.03
|
|
Liabilities Ratio
|
1.49
|
1.95
|
|
Times Interest Earned Ratio
|
0.38
|
1.40
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
<0.95>
|
0.49
|
|
Net Profit Margin
|
<0.73>
|
0.56
|
|
Return On Net Assets
|
3.06
|
9.18
|
|
Return On Capital Employed
|
3.06
|
9.17
|
|
Return On Shareholders'
Funds/Equity
|
<4.01>
|
3.14
|
|
Dividend Pay Out Ratio (Times)
|
<2.70>
|
3.59
|
|
|
|
|
|
NOTES TO ACCOUNTS
|
|
|
|
Contingent Liabilities
|
0.00
|
0.00
|
|
|
|
|
|
