|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
588559-P
|
|
COMPANY NAME
|
:
|
TEH HUP SENG TRADING SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
06/08/2002
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
31 JALAN SHAHBANDAR, BATU PAHAT, 83000 BATU PAHAT,
JOHOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 31, JALAN SHAH BANDAR, 83000 BATU PAHAT, JOHOR,
MALAYSIA.
|
|
TEL.NO.
|
:
|
07-4310452
|
|
FAX.NO.
|
:
|
07-4329717
|
|
CONTACT PERSON
|
:
|
TEH HENG TIAN ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51239
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING IN GROCERY
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
|
:
|
MYR 45,875,441 [2004]
|
|
NET WORTH
|
:
|
MYR 698,936 [2004]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
10 [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) trading in grocery
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. TEH HIN LAM +
|
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
660102-01-6235
A0284697
|
166,668.00
|
|
MR. TEH HENG TIAN +
|
310A, JALAN AMPUAN, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
630218-01-5747
6948867
|
166,666.00
|
|
MR. TEH KEE SENG +
|
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
570516-01-5401
5707299
|
166,666.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. TEH HENG TIAN
|
|
Address
|
:
|
310A, JALAN AMPUAN, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
IC / PP No
|
:
|
6948867
|
|
New IC No
|
:
|
630218-01-5747
|
|
Date of Birth
|
:
|
18/02/1963
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
06/08/2002
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. TEH KEE SENG
|
|
Address
|
:
|
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
IC / PP No
|
:
|
5707299
|
|
New IC No
|
:
|
570516-01-5401
|
|
Date of Birth
|
:
|
16/05/1957
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
06/08/2002
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. TEH HIN LAM
|
|
Address
|
:
|
31, JALAN SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
IC / PP No
|
:
|
A0284697
|
|
New IC No
|
:
|
660102-01-6235
|
|
Date of Birth
|
:
|
02/01/1966
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
06/08/2002
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TEH HENG TIAN
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
TEH HIN LAM
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
TEH KEE SENG
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
TAY & ASSOCIATES
|
|
Auditor' Address
|
:
|
28-1, PERSIARAN JUBILEE, OFF JALAN LOKE LOKE YEW, 55200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. LEE CHAI KIEN
|
|
|
IC / PP No
|
:
|
4758347
|
|
|
New IC No
|
:
|
550318-01-5672
|
|
|
Address
|
:
|
1, JALAN JINGGA, TAMAN BUKIT PASIR, 83000 BATU PAHAT,
JOHOR, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
31/12/2003
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MR. TAN KIAN HONG
|
|
|
IC / PP No
|
:
|
8186368
|
|
|
New IC No
|
:
|
550701-01-5229
|
|
|
Address
|
:
|
15, JALAN BINTANG 14, TAMAN KOPERASI BAHAGIA, 83000 BATU
PAHAT, JOHOR, MALAYSIA.
|
|
|
Date of Appointment
|
:
|
31/12/2003
|
|
|
|
|
|
|
|
|
|
|
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
|
:
|
THAILAND,INDONESIA,CHINA,INDIA
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
THAILAND, INDONESIA
|
|
Credit Term
|
:
|
30 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH,TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
RETAIL,WHOLESALERS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
A CLOUET & COMPANY (KUALA LUMPUR) SDN BHD
|
|
HARPERS TRADING (MALAYSIA) SDN BHD
|
|
LUN HENG SDN BHD
|
|
MAGRI FOODS SDN BHD
|
|
SUSHI KIN SDN BHD
|
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2008
|
2007
|
2006
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
10
|
10
|
10
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading in grocery
products.
The SC sells a wide range of products including onions, garlics, gingers,
potatoes, rice, flour, cooking oil, canned foods, herbs, spices, seasonings,
pasta, grain, snacks, cookies, candy, confectionery, bakery, soft drinks,
beverages and many more.
We were informed that the SC trades more than 100 types of products.
Besides that 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
|
:
|
006074329717
|
|
Current Telephone Number
|
:
|
07-4310452
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
31 JALAN SHAHBANDER 83000 BATU PAHAT JOHOR
|
|
Current Address
|
:
|
NO 31, JALAN SHAH BANDAR, 83000 BATU PAHAT, JOHOR,
MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We contacted the SC's Company Secretary for the latest financial accounts
(2007). According to them, the SC has the latest financial accounts until
2004 and 2005 to 2007 is under preparation.
|
|
|
Other Investigations
We conducted an interview with Ms Teh the SC's Director. He revealed some
information pertaining to the SC.
FINANCIAL
COMMENTS
The SC's latest available
financial accounts with the Registrar of Companies are for the year 2004
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
|
|
51239 : Wholesale of other foodstuffs e.g mee,kueh teow,
wantan skin and related products,cooking oil, tinned food, etc
|
|
|
|
|
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
|
|
Started in 2002, the SC is principally engaged in trading in grocery
products such as onions, garlics, gingers, potatoes, rice, flour, cooking
oil, canned foods, snacks, cookies, candy, soft drinks, beverages and many
more. With a paid up capital of RM500,000, the SC's management should put
more efforts on its business operations to keep its business going. Having
been in the industry for only 6 years, the SC should have its owned
reputation in the market. Under control of Teh's family members, the SC's
business position in the market is normal.
|
|
With its continuous expansion, the SC has spread its business to other
countries like Thailand and Indonesia. This global approach has benefited
the SC in terms of higher earning and minimised its business risk.
Nevertheless, as a small entity with a work force of 10 employees in the
operations, the SC may lose its competitiveness over other well established
players in the same industry. To date, the SC is managed by its director,
Teh Heng Tian.
|
|
The SC's latest available financial accounts with the Registrar of
Companies are for the year 2004 only. We are of the opinion that the
financial accounts are outdated and our comment on the SC's financial is
restricted thereto.
|
|
To reduce the risk of component shortages, the SC sources its raw materials
locally and imported from overseas countries especially Thailand,
Indonesia, China and India. Thus, it is subjected to the currency
fluctuation risk.
|
|
The SC is clear of any litigation.
|
|
In view of the rising population and the lifestyle enhancement of
consumers, the demand for food is on the rise. With the promising outlook
of the industry performance, the business potential of the SC should be
favourable. However, as a small and relatively new entity, the SC faces
stiff competition from other players in the same field.
|
|
In view of the above based on our assessment, we recommend credit be
granted to the SC under reliable guarantee.
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
TEH HUP SENG TRADING SDN BHD
|
|
31-December-2004
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
45,875,441.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
212,918.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
154,605.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
154,605.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
44,331.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
198,936.00
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
TEH HUP SENG TRADING SDN BHD
|
|
31-December-2004
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
317,057.00
|
|
Total Investment
|
0.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
7,180,223.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
7,497,280.00
|
|
|
================
|
|
|
|
|
Working Capital
|
637,124.00
|
|
|
|
|
Issued Capital
|
500,000.00
|
|
Paid Up Capital
|
500,000.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
198,936.00
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
698,936.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
6,543,099.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
255,245.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
7,497,280.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
|
