|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
749832-A
|
|
COMPANY NAME
|
:
|
CHEMIECO (M) SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
09/10/2006
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
78, JALAN IPOH, 3RD FLOOR, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 5, JALAN NILAM 1/8, TAMAN PERINDUSTRIAN TEKNOLOGI TINGGI, 40400
SHAH ALAM, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-56380533
|
|
FAX.NO.
|
:
|
03-56350531
|
|
CONTACT PERSON
|
:
|
SASCHA SAINER ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51499 51212
|
|
PRINCIPAL ACTIVITY
|
:
|
DEALER IN CHEMICAL PRODUCTS
|
|
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
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
3 [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 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) dealer in chemical
products.
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. MOHD JASFAIREEN CHET BIN JASMAN +
|
70, JALAN USJ 11/5, 47620 SUBANG JAYA, SELANGOR, MALAYSIA.
|
830601-10-5223
|
424,980.00
|
|
SASCHA SAINER +
[APPOINTED AS MGR ON 09/10/2006]
|
A3-1, LOJING HEIGHTS 1, JALAN 1/27A, SECTION 5, WANGSA MAJU, 53300
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
P1651345854
|
75,000.00
|
|
MS. JASFARINA CHET BTE JASMAN +
|
72, JALAN USJ 11/5, 47620 SUBANG JAYA, SELANGOR, MALAYSIA.
|
840808-14-5192
|
20.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. JASFARINA CHET BTE JASMAN
|
|
Address
|
:
|
72, JALAN USJ 11/5, 47620 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
840808-14-5192
|
|
Date of Birth
|
:
|
08/08/1984
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
09/10/2006
|
DIRECTOR 2
|
Name Of Subject
|
:
|
SASCHA SAINER
|
|
Address
|
:
|
A3-1, LOJING HEIGHTS 1, JALAN 1/27A, SECTION 5, WANGSA MAJU, 53300
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
P1651345854
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
09/10/2006
|
|
Remark
|
:
|
APPOINTED AS MGR ON 09/10/2006
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. MOHD JASFAIREEN CHET BIN JASMAN
|
|
Address
|
:
|
70, JALAN USJ 11/5, 47620 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
New IC No
|
:
|
830601-10-5223
|
|
Date of Birth
|
:
|
01/06/1983
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
09/10/2006
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
SASCHA SAINER
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SIMON YAP
|
|
|
Position
|
:
|
BUSINESS DEVELOPMENT MANAGER
|
|
|
|
|
|
AUDITOR
No Auditor found in our databank
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. LAW MAN PING
|
|
|
IC / PP No
|
:
|
A0668832
|
|
|
New IC No
|
:
|
670303-10-6068
|
|
|
Address
|
:
|
27, JALAN SS 19/6P, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
09/10/2006
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. YEW SUET LYE
|
|
|
IC / PP No
|
:
|
A2329157
|
|
|
New IC No
|
:
|
721029-14-5562
|
|
|
Address
|
:
|
41, JALAN SJ 21, TAMAN SELAYANG JAYA, 68100 BATU CAVES, SELANGOR,
MALAYSIA.
|
|
|
Date of Appointment
|
:
|
09/10/2006
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
Import Countries
|
:
|
CHINA,HONG KONG
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
UNITED STATES, AUSTRALIA, NEW ZEALAND,
SAUDI ARABIA
|
|
Credit Term
|
:
|
30 - 120 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT),LETTER OF CREDIT (LC)
|
|
Type of Customer
|
:
|
DEALERS,MANUFACTURING INDUSTRIES
|
|
No of Customer
|
:
|
20
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
|
INDUSTRIAL CHEMICALS AND PALM OIL PRODUCTS
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
CHEMQUEST SDN BHD
|
|
IDEMITSU CHEMICALS (M) SDN BHD
|
|
MARUBENI KABUSHIKI KAISHA (MARUBENI CORPORATION)
|
|
TEXCHEM RESOURCES BHD
|
|
TITAN TRADING CORP. SDN BHD
|
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2008
|
2007
|
2006
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
3
|
4
|
4
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) dealer in chemical
products.
The SC offers a wide range of products includes palm oil, palm kernel oil,
oleochemicals and industrial chemicals.
Besides that the SC also provides products based on the customers'
requirements.
The SC has a warehouse located at the same premises to keep stocks and
materials.
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
|
:
|
03-56380533
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO 5 JALAN NILAM 1/8, TAMAN PERINDUSTRIAN TEKNOLOGI, 40400 SHAH
ALAM, SELANGOR.
|
|
Current Address
|
:
|
NO 5, JALAN NILAM 1/8, TAMAN PERINDUSTRIAN TEKNOLOGI TINGGI, 40400
SHAH ALAM, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We have contacted the SC's Company Secretary for the latest financial
accounts. According to her, the SC has not completed auditing its financial
accounts for year 2007 yet.
|
|
|
Other Investigations
We conducted na interview with Ms Leela from the SC's Admin Department. She
revealed some information pertaining to the SC.
FINANCIAL
COMMENTS
No latest
financial accounts are available at the Registry Office, thus 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
|
|
51499 : Wholesale of other intermediate products, waste and scrap n.e.c.
|
|
51212 : Wholesale of palm oil
|
|
|
|
|
INDUSTRY :
|
CHEMICAL
|
|
|
|
|
|
|
The chemical products industry is essentially a supporting industry,
supplying intermediates and inputs to the end-user industries such as agriculture,
electronics, automotive, construction-related industry and personal care
products. The chemicals and chemical products industry, including
agricultural and industrial chemicals, cosmetics and toiletry products,
paint and soaps, is a significant contributor to the manufacturing sector.
The growth of the industry is also highly dependent on the performance of
the other sectors of the economy.
|
|
The growth in the chemicals and chemical products sector may be constrained
by the rising raw material prices. Chemicals and chemical products, chalked
up a 16.8% year on year rise.
|
|
This industry remains an important sector and a growth engine for
manufacturing output. It accounts for the largest share of Malaysia's
non-electrical and electronic exports. Both organic and inorganic chemicals
are gaining more attention and are anticipated to continue their growth
momentum of 2007, especially driven by demand from China, Thailand and
other ASEAN countries. In particular, agricultural and industrial
chemicals, cosmetics and toiletry products are being absorbed by burgeoning
economies with large consumer bases, like China. The sub-sector that looks
most promising in this industry is the expansion of the agricultural
chemicals industry, which includes the manufacture of fertilisers and
pesticides. There have also been indications of a higher level of foreign
participation in this industry, especially in the form of strategic
partnerships with domestic firms, essentially to expand their production
capacities for export.
|
|
In January-November 2007, the industry's exports summed up to RM1.16
billion, translating into a 19% rise. However, closer scrutiny shows that
the pesticides and herbicides sub-sector posted a corresponding 34.3% growth,
with output coming up to RM561.6 million for the same period.
|
|
The chemical products industry is expected to grow in tandem with the
overall growth of other manufacturing of the economy. Besides that, the
chemical and chemical products industry raises investment to improve
efficiency and increase productivity to meet stronger demand. In addition,
the Government's emphasis on high technology and higher-skilled projects is
expected to increase investment in high value-added projects. Strong external
demand for resource-based products and the improvement in the
construction-related industries would further lend support to the expansion
of chemical sector.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth
|
COMMENTS
|
Founded in Oct 2006, the SC is a private limited company, acts as a dealer
in chemical products. As a relatively young entity, the SC has a paid up
capital of RM500,000. This has enable the SC to keep its business going
when the needs arise. Although the SC has been in the industry for less
than 2 years, it has started to stabilise its business position in the
market. The general reputation of the SC is considered satisfactory.
|
|
We noted that the SC serves both the local and overseas customers such as
United States, Australia, New Zealand and others. This wide market segment
has benefited the SC in terms of higher earning and minimised its business
risk. Besides that, the SC has the ability to meet any uncertainties in the
local economy. Currently, the SC has a work force of 3 employees in the
operations. Its management capability is considered average.
|
|
For the financial aspect, there is no financial information since the SC
has just established the company in October 2006. According to the SC, it
has not completed auditing its financial accounts for year 2007 yet. Thus,
we are not able to determine its financial position.
|
|
Investigation revealed that the SC's products are sourced locally and also
obtained from overseas market such as China and Hong Kong. As such, the SC
is exposed to foreign exchange risk.
|
|
Based on our database, the SC is clear of litigation.
|
|
The chemical industry shows an upward trend and this trend is very likely to
sustain in the near term. With the promising outlook of the industry, we
believe there will be more business activities available for the SC.
Nonetheless, as a new and small entity, the SC is required to put more
efforts in its business operations.
|
|
In view of the above, we recommend credit be granted to the SC under
guarantee.
|
|
%20SDN%20BHD%2011-Jun-2008_files/image002.jpg){kind=small}