|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
49205-W
|
|
COMPANY NAME
|
:
|
SINN KIAN HIN SDN BHD
|
|
FORMER NAME
|
:
|
FU CHENG YUAN SDN BHD (27/10/1986)
|
|
INCORPORATION DATE
|
:
|
25/07/1979
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
10, LORONG
GEREJA, 75000 MELAKA, MELAKA, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 43,
KAMPUNG HULU, 75200 MELAKA, MELAKA, MALAYSIA.
|
|
TEL.NO.
|
:
|
06-2824462
|
|
FAX.NO.
|
:
|
06-2841198
|
|
CONTACT PERSON
|
:
|
ONG CHEE KOK
( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51231
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF SUNDRY GOODS
|
|
AUTHORISED CAPITAL
|
:
|
MYR 2,000,000.00
DIVIDED INTO
ORDINARY SHARE 2,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP
CAPITAL
|
:
|
MYR 1,260,000.00
DIVIDED INTO
ORDINARY SHARES 1,260,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 47,661,784 [2006]
|
|
NET WORTH
|
:
|
MYR 9,169,975 [2006]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
30 [2008]
|
|
BANKER (S)
|
:
|
|
BANGKOK BANK BHD
HONG LEONG BANK BHD
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
STABLE
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
GOOD
|
|
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) trading of sundry goods.
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. ONG CHEE KOK +
|
81 JALAN CHAN KOON CHENG, 75000 MELAKA, MELAKA,
MALAYSIA.
|
410822-10-5197
2278364
|
255,308.00
|
|
MR. GOH KOK HENG +
|
91-F TMN SENTOSA, BKT BARU, 75450 AIR KEROH, MELAKA,
MALAYSIA.
|
650315-10-5283
A0034411
|
213,086.00
|
|
DESA SEGAR SDN BHD
|
7-1 FABER IMPERIAL COURT, SHERATON IMPERIAL HOTEL, JLN
SULTAN ISMAIL, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
153157
|
168,894.00
|
|
MS. ONG SWEE NGOH
|
81 JALAN CHAN KOON CHENG, 75000 MELAKA, MELAKA, MALAYSIA.
|
491122-04-5004
2284777
|
87,088.00
|
|
MR. ONG CHEE ENG @ ONG BOCK CHWEE +
|
C-224, SIN HOE GARDEN, BUKIT BARU, 75150 MELAKA, MELAKA,
MALAYSIA.
|
471019-04-5139
2278386
|
87,086.00
|
|
MR. ONG BON KOI
|
DESA KIAMBANG, SUNGAI CHUA, 43000 KAJANG, SELANGOR,
MALAYSIA.
|
660711-10-5911
A0549329
|
87,086.00
|
|
MR. ONG CHE LIONG
|
85, TAMAN
KAJANG, 43000 KAJANG, SELANGOR, MALAYSIA.
|
421109-10-5099
7875571
|
87,086.00
|
|
MR. ONG CHEE MEN
|
5197C, BUKIT RAMBAI,
75200 MELAKA, MELAKA, MALAYSIA.
|
400920-10-5351
2278367
|
87,086.00
|
|
MR. ONG HER YAM
|
12, JALAN TBC 26, TAMAN BUKIT CHENG, 75250 MELAKA,
MELAKA, MALAYSIA.
|
521020-04-5163
4341242
|
87,086.00
|
|
MR. SIM BECK DOO +
|
136, JALAN TRANQUERAH,
75200 MELAKA, MELAKA, MALAYSIA.
|
370126-04-5019
0191566
|
84,444.00
|
|
MR. ONG BOON YONG
|
|
711011-04-5097
A2018227
|
15,750.00
|
|
|
|
|
---------------
|
|
|
|
|
1,260,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. SIM BECK DOO
|
|
Address
|
:
|
136, JALAN
TRANQUERAH, 75200 MELAKA, MELAKA, MALAYSIA.
|
|
IC / PP No
|
:
|
0191566
|
|
New IC No
|
:
|
370126-04-5019
|
|
Date of Birth
|
:
|
26/01/1937
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
06/01/1987
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. ONG CHEE ENG @ ONG BOCK CHWEE
|
|
Address
|
:
|
C-224, SIN HOE GARDEN, BUKIT BARU, 75150 MELAKA, MELAKA,
MALAYSIA.
|
|
IC / PP No
|
:
|
2278386
|
|
New IC No
|
:
|
471019-04-5139
|
|
Date of Birth
|
:
|
19/10/1947
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
22/11/1995
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. GOH KOK HENG
|
|
Address
|
:
|
91-F TMN SENTOSA, BKT BARU, 75450 AIR KEROH, MELAKA,
MALAYSIA.
|
|
IC / PP No
|
:
|
A0034411
|
|
New IC No
|
:
|
650315-10-5283
|
|
Date of Birth
|
:
|
15/03/1965
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
22/11/1995
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. ONG CHEE KOK
|
|
Address
|
:
|
81 JALAN CHAN KOON CHENG, 75000 MELAKA, MELAKA,
MALAYSIA.
|
|
IC / PP No
|
:
|
2278364
|
|
New IC No
|
:
|
410822-10-5197
|
|
Date of Birth
|
:
|
22/08/1941
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
29/08/1986
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
ONG CHEE KOK
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
P S TAN & CO
|
|
Auditor' Address
|
:
|
69, JALAN KOTA LAKSAMANA 1/2, TAMAN SRI LAKSAMANA, 75200
MELAKA, MELAKA, MALAYSIA.
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. CHONG LEE PENG
|
|
|
IC / PP No
|
:
|
6045462
|
|
|
New IC No
|
:
|
601023-04-5192
|
|
|
Address
|
:
|
311, JALAN TENGKERA, 75200 MELAKA, MELAKA, MALAYSIA.
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. CHOONG LEE HAH
|
|
|
IC / PP No
|
:
|
7442832
|
|
|
New IC No
|
:
|
641106-04-5160
|
|
|
Address
|
:
|
A1-06, PANGSAPURI PUTERI KESIDANG, LORONG PANDAN, 75200
MELAKA, MELAKA, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
30/05/2006
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
BANGKOK BANK BHD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
HONG LEONG BANK BHD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
UNITED OVERSEAS BANK (MALAYSIA) 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
|
:
|
28/04/1993
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM900,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 1 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
28/04/1993
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM300,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 2 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
28/05/1994
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM450,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 3 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
10/06/1996
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM300,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 4 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
14/01/2001
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,500,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 5 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
26/12/2003
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 6 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
29/07/2005
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM200,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 7 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
|
|
Import Countries
|
:
|
CHINA,THAILAND
|
The SC refused to furnish us with the suppliers' names. Without the financial
accounts, we are not able to comment on the SC's payment habit.
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
|
Type of Customer
|
:
|
SUPERMARKETS,WHOLESALERS
|
OPERATIONS
|
Goods Traded
|
:
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
BERNAS PRODUCTION SDN BHD
|
|
EDARAN BERNAS NASIONAL SDN BHD
|
|
SEBERANG DISTRIBUTORS SDN BHD
|
|
SOO HIN TRADING CO SDN BHD
|
|
SYARIKAT PERNIAGAAN CHIPTAR SDN BHD
|
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2008
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
30
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of sundry goods.
The SC's products range includes sugar, salt, flour, rice, beans, oil and
others.
We were informed that the SC has a warehouse located in Pulau Gadong, Melaka.
Besides that the SC also provides delivery services based on the customers'
requirements.
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
|
:
|
06-2824462
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
43, KG HULU, 75200 MELAKA, MELAKA.
|
|
Current Address
|
:
|
NO 43, KAMPUNG HULU, 75200 MELAKA, MELAKA, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We
conducted an interview with one of the staff from the SC's Admin Department. She
revealed some information pertaining to the SC.
FINANCIAL
COMMENTS
The
financial summary of the SC in Year 2006 showed that it was financially
STABLE. 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. A
low liabilities ratio has minimised the SC's financial risk.
Overall financial condition of the SC : STABLE
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
|
|
51231 : Wholesale of rice, other grains, flour and sugar
|
|
|
|
|
INDUSTRY :
|
FOOD & BEVERAGES
|
|
|
|
|
Food production is seen to expand further with the Government's policy to
reduce the food import bill and promote self-sufficiency by 2010 through
expansion of idle lands and mechanization of farming methods as well as
promotion of good farming practices. Areas of activity that will boost this
sector include aquaculture, deep-sea fishing, floriculture as well as herbs
cultivation.
|
|
Output of the food products industry grew significantly by 12.7%
(January-June 2006: 1.1%). This was driven by higher output in processing
and preserving of fish and fish products, which grew by 27.1% in tandem
with increased marine fish landings. In addition, the robust growth of food
products was also supported by increased output of dairy (16.0%) and grain
mill products (7.0%), in particular, rice milling which increased 17.7%,
benefiting from higher production of paddy. Meanwhile, other food products,
particularly, sugar refinery and biscuit products also registered
double-digit growth ranging between 23.0% and 25.0%.
|
|
Export receipts of food products increased by 15.9% (RM5,268 million) while
beverages 106.5% (RM580 million) as a result of continuous efforts by
manufacturers to attain quality assurance and accreditation for Malaysia's
food and beverages products.
|
|
The Government has identified the processed food industry as one of the
major growth sectors of the economy under the Ninth Malaysia Plan (9MP).
Under the 9MP, the food commodities subsector is expected to grow at an average
rate of 7.6% per annum through improvements in efficiency and productivity
as well as expansion in hectarage. Exports of food commodities will be
increased to achieve a positive food trade balance. The production of
'padi' will be increased to meet the target of self-sufficiency level of
90%. The production of fruits will be undertaken on a large-scale in the
fruit production zones using the cluster development approach and
concentrating on nine fruit species which have export potential. The production
of vegetables will focus on high value varieties for local consumption and
selected export markets. The Green Book Programme to promote cultivation of
food crops at the community level will be reactivated.
|
|
The Government has approved an allocation of RM11.4 billion representing an
increase of 70% compared with the Eighth Plan allocation for the sector.
Among the objectives of the plan are large-scale commercial farming and
greater application of modern technology and ICT to produce higher value-added
processed food and food products.
|
|
Production of 'halal' food will be further promoted to take advantage of
the vast potential of the 'halal' export market. This will include
processing and packaging of meat, fisheries and other food-based products.
In addition, Malaysia will be developed as the centre for the certification
of 'halal' products and the Jabatan Kemajuan Islam Malaysia (JAKIM) 'halal'
certification will be promoted worldwide. Concerted efforts to develop
Malaysia as world halal hub to capture new markets worldwide would provide
impetus for further growth of the local food industry.
|
|
The market for convenience and functional foods is expected to grow rapidly
in view of the changing consumption patterns and greater awareness of
healthy lifestyles. In this regard, the production and supply of
ready-to-use seafood, livestock products and vegetable-based convenience
food will be promoted as new areas of investment. Palm oil and cocoa-based
food ingredients will be further developed in terms of products range and
quality. The better performance in the food products industry was also due
to greater efforts undertaken by the industry to keep pace with advancement
in technology.
|
|
Note : The Ninth Malaysia Plan (9MP) was tabled in Parliament on March 31,
2006, is the five-year blueprints within the new National Mission policy
and implementation framework from now until 2010. Malaysia is expected to
see some structural changes and improved performance in the economy.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth
|
COMMENTS
|
The SC was incorporated in 1979, it is primarily involved in the trading of
sundry goods, such as sugar, salt, flour, bean, oil and etc. Being a private
limited company, the SC's paid up capital stands at RM1.26million. With its
long presence in the industry coupled with its vast experiences in the
business, the SC should have built up certain goodwill with its clients
over times.
|
|
With its long operating history, the SC has established a wide and stable
clientele base in the market. Investigation revealed that the SC solely
focuses on the sales in the domestic market and it mostly trades fast
moving consumer goods such as sugar and oil. Hence, we believe that the
SC's exposure to business risk is well mitigated. With a manpower strength
of 30 staff, the SC is led by Managing Director, Ong Chee Kok.
|
|
In 2006, the SC has generated a pre-tax profit of RM1.82 million, given a
turnover of RM47.66 million. Return on shareholders' funds was at an
acceptable range, indicating that the SC was efficient in utilising its
funds to generate returns. Besides, a high liquidity ratio shows that the
SC would be able to repay all its short term obligations. Being a lowly
geared company, the SC faces low financial risk. Overall financial
condition of the SC is regarded stable.
|
|
Besides obtaining its products locally, the SC also sourced from overseas countries.
With the contribution of both local and overseas suppliers, it eliminates
the risk of dependency on deliveries from a number of key suppliers and
insufficient quantities of its raw materials.
|
|
There is no legal suit against the SC.
|
|
In view of the rising population and the lifestyle enhancement of
consumers, the demand for food is on the rise. Hence, with its vast
experience in the business, the SC has the potential of capturing higher
market shares in line with the growth in the industry.
|
|
In view of the above, we recommend credit be granted to the SC promptly.
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
SINN KIAN HIN SDN BHD
|
|
31-December-2006
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
47,661,784.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
1,826,040.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
1,362,581.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
1,362,581.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
6,547,394.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
7,909,975.00
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
SINN KIAN HIN SDN BHD
|
|
31-December-2006
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
2,656,758.00
|
|
Total Investment
|
10,000.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
11,190,810.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
13,857,568.00
|
|
|
================
|
|
|
|
|
Working Capital
|
6,526,395.00
|
|
|
|
|
Issued Capital
|
1,260,000.00
|
|
Paid Up Capital
|
1,260,000.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
7,909,975.00
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
9,169,975.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
4,664,415.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
23,178.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
13,857,568.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
|
