|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
400588-P
|
|
COMPANY NAME
|
:
|
TAC SYSTEM FORMWORK SDN BHD
|
|
FORMER NAME
|
:
|
TAC BINARI SDN BHD
(07/01/2005)
TAC CONSULTANCY SDN BHD
|
|
INCORPORATION DATE
|
:
|
02/09/1996
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
32B, JALAN SS 2/66, 47300 PETALING JAYA, SELANGOR,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
159A, JLN KENARI 23A, BANDAR PUCHONG JAYA, 47100
PUCHONG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-80707562
|
|
FAX.NO.
|
:
|
03-80754075
|
|
WEB SITE
|
:
|
www.tacsystemformwork.com
|
|
CONTACT PERSON
|
:
|
TEH KIAN BENG ( EXECUTIVE DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
45203
|
|
PRINCIPAL ACTIVITY
|
:
|
CONSTRUCTION, SUB-CONTRACT WORKS AND STRUCTURAL WORKS
|
|
AUTHORISED CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP
CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARES 500,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 6,788,924 [2005]
|
|
NET WORTH
|
:
|
MYR 925,979 [2005]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
20 [2008]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
LOW
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL 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) construction,
sub-contract works and structural works.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The SC is not qualified to be one of the Top Corporate Performers in the
Malaysia 1000 (M1000) publication, a directory jointly published by Companies
Commission of Malaysia (The Registrar Office), Minister of Domestic Trade and
Consumer Affairs and our publication arm, BASIS Publications House Sdn Bhd.
The major
shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MR. TEH KIAN BENG @ TEH KIAN POH +
|
128, JALAN TR 8/3, TROPICANA GOLF & COUNTRY RESORT,
47410 PETALING JAYA, SELANGOR, MALAYSIA.
|
471020-10-6269
1183485
|
200,000.00
|
|
MS. TEH SIOK LEE
|
|
810505-10-5516
|
150,000.00
|
|
MR. TEH GUAN CHUAN
|
|
790707-10-5279
|
150,000.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. TAU WEI HERNG
|
|
Address
|
:
|
94, TAMAN HIJAU, 28600 KARAK, PAHANG, MALAYSIA.
|
|
IC / PP No
|
:
|
A2743245
|
|
New IC No
|
:
|
740505-06-5031
|
|
Date of Birth
|
:
|
05/05/1974
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
30/03/2006
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. TEH KIAN BENG @ TEH KIAN POH
|
|
Address
|
:
|
128, JALAN TR 8/3, TROPICANA GOLF & COUNTRY RESORT,
47410 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
1183485
|
|
New IC No
|
:
|
471020-10-6269
|
|
Date of Birth
|
:
|
20/10/1947
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
30/03/2006
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TEH KIAN BENG
|
|
|
Position
|
:
|
EXECUTIVE DIRECTOR
|
AUDITOR
|
Auditor
|
:
|
YTS & ASSOCIATES
|
|
Auditor' Address
|
:
|
336, LIFT 7, BLOCK A, DAMANSARA INTAN, LEVEL 3, 46000
PETALING JAYA, SELANGOR, MALAYSIA.
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. TAN LIM KUAN
|
|
|
IC / PP No
|
:
|
4520426
|
|
|
New IC No
|
:
|
530409-07-5621
|
|
|
Address
|
:
|
68, JALAN PJS 10/7, SUBANG INDAH, 46000 PETALING JAYA,
SELANGOR, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
30/10/2007
|
BANKING
Banking relations are maintained principally with :
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
|
Percentage
|
:
|
100%
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
The SC refused to furnish us with the suppliers' names. Without the financial
accounts, we are not able to comment on the SC's payment habit.
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
BAHRAIN, INDIA, MIDDLE EAST
|
|
Credit Term
|
:
|
PROGRESSIVE PAYMENTS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
PRIVATE SECTORS,GOVERNMENT SECTORS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC concentrates more on the local market. However it plans to venture
into more overseas projects
.
OPERATIONS
|
Services
|
:
|
|
CONSTRUCTION, SUB-CONTRACT WORKS AND STRUCTURAL WORKS
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
ASIA COMMUNICATION & ELECTRONIC SDN BHD
|
|
IJM CORPORATION BHD
|
|
MTD CAPITAL BHD
|
|
TEKNOPADU SDN BHD
|
|
WCT ENGINEERING BHD
|
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2008
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
20
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) construction,
sub-contract works and structural works.
The SC manufactures the TAC formwork (building) system.
The formwork consists of aluminium panels which are pre-designed according to
the architectural plans to form all the concrete found in the building
superstructure, i.e. the walls (external and internal), floor slabs, columns,
beams, stairs, window hoods, curved sections and other intricate decorative
features.
The SC's factory is located in Subang.
The products are used in both residential and non-residential projects.
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
|
:
|
+60 3 8070 7562
|
|
Current Telephone Number
|
:
|
03-80707562
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
159A, JALAN KENARI 23A, BANDR PUCHONG JAYA 47100 PUCHONG
SELANGOR DARUL EHSAN
|
|
Current Address
|
:
|
159A, JLN KENARI 23A, BANDAR PUCHONG JAYA, 47100
PUCHONG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We contacted the SC's Company Secretary pertaining to the SC's latest financials.
However they refused to provide a copy to us as it is confidential.
|
|
|
Other Investigations
We contacted one of the Senior staff from the Sales Department. She provided some
information on the SC. Later we contacted one of the staff from the Project
Division for more information on the SC.
FINANCIAL
COMMENTS
The SC's latest available
financial accounts with the Registrar of Companies are for the year 2005 only.
We are of the opinion that the financial accounts are outdated and our
comment on the SC's financial is restricted thereto.
ECONOMIC
/ INDUSTRY OUTLOOK
|
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
|
|
45203 : Construction of roads, bridges, tunnels, viaducts
highways, elevated highway, railways, airfields, harbours, etc.
|
|
|
|
|
INDUSTRY :
|
ENGINEERING
|
|
|
|
|
|
|
In 2008, the civil engineering sub-sector would be supported by higher construction
activity in the oil and gas inudstry as well as in public projects with the
commencement of new projects under the Ninth Malaysia Plan (9MP). Ongoing
construction in the civil engineering sub-sector was largely for power
generation plants, roads, ports and water and sewerage projects. Twenty-six
development projects originally slotted for the Ninth Malaysia Plan (9MP)
have been brought forward to revitalise the sluggish construction industry.
The projects, which will cost the Government RM2.4 billion was commerced
from the middle of 2005. The move would stimulate the industry that had
contracted by 1.9% in 2004 and 2005. All these projects were implemented
through open tender to ensure competitive pricing. To benefit more
contractors, the bigger projects that involve very high costs were divided
into packages and tendered separately. The Government would strive for a
balance between being prudent to ensure a sustainable deficit and ensuring
a robust economic growth, as evidenced by this latest move to bring forward
future projects. Besides, the Government had also allocated RM500 million
to finance maintenance works on existing infrastructures nationwide. These
involved 8,471 projects and 2,567 contractors had been awarded tenders to
carry them out.
|
|
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 : Marginal Growth
|
COMMENTS
|
Established in 1996, the SC is principally involved in the construction, sub-contract
works and structural works. Over the years, the SC has a paid up capital
standing at RM500,000. Such an acceptable paid up capital enables the SC to
expand its business more comfortably. Having been in the industry for more
than a decade, the SC has gained certain market share and acquired a
satisfactory reputation in the market. We considered that the SC's business
position in the market is considered normal.
|
|
Apart from the local market, the SC also has business operations in other
countries. The wider range of its market segments has benefited the SC in
terms of higher earnings and minimized its business risk. However, we noted
that the SC concentrates more on the local market. Thus it is vulnerable to
the changes in the local economy. The SC is recognised as a small entity
with a work force of 20 employees in the operations. Overall, the SC's
management capability is regarded as average.
|
|
We are unable to comment on the SC's financial standing due to
unavailability of its latest financial statements.
|
|
Our investigation revealed that the SC sources all of its products locally.
Being dependent on one market segment for its entire supply, the SC may
face high risk since supplies could easily be interrupted due to
circumstances beyond its control.
|
|
Based on our database, the SC is clear of litigation.
|
|
The industry has reached its maturity stage and only enjoying a marginal
growth. It is saturated and very competitive. Thus, the SC has to implement
aggressive marketing strategies in order to capture its own market shares
in the market and to compete with other well established players in the
same industry.
|
|
In view of the above, we recommend credit be granted to the SC under
guarantee.
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
TAC SYSTEM FORMWORK SDN BHD
|
|
31-December-2005
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
6,788,924.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
13,009.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
11,964.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
11,964.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
414,015.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
425,979.00
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
TAC SYSTEM FORMWORK SDN BHD
|
|
31-December-2005
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
412,053.00
|
|
Total Investment
|
0.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
5,614,782.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
6,026,835.00
|
|
|
================
|
|
|
|
|
Working Capital
|
525,926.00
|
|
|
|
|
Issued Capital
|
500,000.00
|
|
Paid Up Capital
|
500,000.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
425,979.00
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
925,979.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
5,088,856.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
12,000.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
6,026,835.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
|
