|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
633894-W
|
|
COMPANY NAME
|
:
|
SCC MARKETING (M) SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
10/11/2003
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
B172, JALAN DATO LIM HOE LEK, 2ND FLOOR, 25200 KUANTAN, PAHANG,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 29 JALAN TPP 5/13, TAMAN PERINDUSTRIAN PUCHONG, SEKSYEN 5, 47100 PUCHONG,
SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-80623170 / 80623171
|
|
FAX.NO.
|
:
|
03-80622945
|
|
WEB SITE
|
:
|
www.sccsb.com
|
|
CONTACT PERSON
|
:
|
SUE THONG ( CEO )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51239
|
|
PRINCIPAL ACTIVITY
|
:
|
WHOLESALER OF CONSUMER GOODS, CANNED AND FROZEN FOODS
|
|
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 6,967,151 [2007]
|
|
NET WORTH
|
:
|
MYR 362,690 [2007]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
50 [2008]
|
|
BANKER (S)
|
:
|
|
CIMB BANK
BHD
HSBC BANK MALAYSIA BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
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) wholesaler of consumer
goods, canned and frozen foods.
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. SOON SEE BENG +
|
LOT 147A, KAWASAN PERINDUSTRIAN SEMAMBU, 25350 KUANTAN, PAHANG,
MALAYSIA.
|
700110-06-5719
A1520771
|
255,000.00
|
|
MR. SOON CHIEW ANG +
|
LOT 147-A, KAWASAN PERINDUSTRIAN SEMAMBU, 25350 KUANTAN, PAHANG,
MALAYSIA.
|
760908-06-5405
A3448937
|
245,000.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. SOON CHIEW ANG
|
|
Address
|
:
|
LOT 147-A, KAWASAN PERINDUSTRIAN SEMAMBU, 25350 KUANTAN, PAHANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
A3448937
|
|
New IC No
|
:
|
760908-06-5405
|
|
Date of Birth
|
:
|
08/09/1976
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. SOON SEE BENG
|
|
Address
|
:
|
LOT 147A, KAWASAN PERINDUSTRIAN SEMAMBU, 25350 KUANTAN, PAHANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
A1520771
|
|
New IC No
|
:
|
700110-06-5719
|
|
Date of Birth
|
:
|
10/01/1970
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
SUE THONG
|
|
|
Position
|
:
|
CEO
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SOON SEE BENG
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
TAY HOCK SING
|
|
|
Position
|
:
|
SALES MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
S.P. KONG & CHANG
|
|
Auditor' Address
|
:
|
B-170, JALAN DATO LIM HOE LEK, 1ST FLOOR, 25200 KUANTAN, PAHANG,
MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. TING MOOI NARK
|
|
|
IC / PP No
|
:
|
A1982326
|
|
|
New IC No
|
:
|
711225-08-5684
|
|
|
Address
|
:
|
B-2923, TAMAN ANGKASA, JALAN BAHAGIA, 25300 KUANTAN, PAHANG,
MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
2)
|
Name
|
:
|
HSBC 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
|
:
|
27/12/2007
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM860,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
CIMB BANK BHD
|
|
BCB BUILDING, JALAN BANK, 10TH FLOOR, 25000 KUANTAN, PAHANG,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 31/12/2007
|
|
Registered and Numbered 1 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
06/03/2008
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM2,500,000.00
|
|
Description Of Property Affected
|
:
|
|
ALL ASSETS OF THE COMPANY
|
|
|
Name & Address Of Chargee
|
:
|
|
HSBC BANK MALAYSIA BHD
|
|
1, JALAN MAHKOTA, 25000 KUANTAN, PAHANG, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 10/03/2008
|
|
Registered and Numbered 2 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
06/03/2008
|
|
Description Of Charge
|
:
|
|
TRADE FINANCING GENERAL AGREEMENT
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
|
ALL ASSETS OF THE COMPANY
|
|
|
Name & Address Of Chargee
|
:
|
|
HSBC BANK MALAYSIA BHD
|
|
1, JALAN MAHKOTA, 25000 KUANTAN, PAHANG, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 10/03/2008
|
|
Registered and Numbered 3 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,INDIA
|
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
|
:
|
MIDDLE EAST, AUSTRALIA, INDONESIA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
TELEGRAPHIC TRANSFER (TT),CHEQUES
|
|
Type of Customer
|
:
|
HYPERMARKETS,SUPERMARKETS,WHOLESALERS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
HARPERS TRADING (MALAYSIA) SDN BHD
|
|
LUN HENG SDN BHD
|
|
MAGRI FOODS SDN BHD
|
|
PGEO GROUP SDN BHD
|
|
YHI CORPORATION (MALAYSIA) SDN BHD
|
|
|
|
|
|
|
Ownership of premises
|
:
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2008
|
2007
|
2006
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
50
|
23
|
19
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) wholesaler of consumer
goods, canned and frozen foods.
The SC offers a wide range of food products includes pure honey, peanut
butter, barley peanut candy, rice bran oil, natural himalaya rock salt,
organic brazil nuts, organic beans and others.
We were informed that the SC's headquarters is located in Kuantan, Pahang.
Besides that the SC also has a warehouse 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
|
:
|
603 8062 3170
|
|
Current Telephone Number
|
:
|
03-80623170 / 80623171
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO. 29, JALAN TPP 5/13, TAMAN PERIDUSTRIAN PUCHONG, SEKSYEN 5, 47100
PUCHONG SELANGOR DARUL EHSAN
|
|
Current Address
|
:
|
NO 29 JALAN TPP 5/13, TAMAN PERINDUSTRIAN PUCHONG, SEKSYEN 5, 47100
PUCHONG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We conducted an interview with Ms Wei Ling from the SC's Human Resource
Department. She revealed some information pertaining to the SC.
FINANCIAL COMMENTS
Profitability:
|
Turnover
|
:
|
Increased
|
[
|
5.82%
|
]
|
|
Profit/(Loss) Before Tax
|
:
|
Increased
|
[
|
45,570.68%
|
]
|
|
Return on Shareholder Funds
|
:
|
Favourable
|
[
|
48.38%
|
]
|
|
Return on Net Assets
|
:
|
Favourable
|
[
|
58.96%
|
]
|
The higher turnover could be attributed to the favourable market condition. The
higher profit could be attributed to the increase in turnover. Generally the
SC was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the SC's management was efficient in utilising the
assets to generate returns.
Working Capital Control:
|
Stock Ratio
|
:
|
Favourable
|
[
|
14 Days
|
]
|
|
Debtors Ratio
|
:
|
Unfavourable
|
[
|
69 Days
|
]
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
41 Days
|
]
|
The SC's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The high debtors' ratio could indicate
that the SC was weak in its credit control. However, the SC could also giving
longer credit periods to its customers in order to boost its sales or to
capture / retain its market share. The SC had a favourable creditors' ratio
as evidenced by its favourable collection days. The SC could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors.
Liquidity:
|
Liquid Ratio
|
:
|
Acceptable
|
[
|
0.90 Times
|
]
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.02 Times
|
]
|
The SC's liquid ratio was slightly low. This could indicate that the SC's working
capital was slightly deficient. The SC will have to improve its liquidity
position either by obtaining short term financing or increase its paid up
capital so that it can meet all its short term obligations as and when they
fall due.
Solvency
|
Interest Cover
|
:
|
Acceptable
|
[
|
6.94 Times
|
]
|
|
Gearing Ratio
|
:
|
Unfavourable
|
[
|
2.44 Times
|
]
|
The SC's interest cover was slightly low. If there is no sharp fall in its profit
or sudden increase in the interest rates, we believe the SC is able to
generate sufficient income to service its interest and repay the loans. The
SC was highly geared, thus it had a high financial risk. The SC was dependent
on loans to finance its business needs. In times of economic downturn and /
or high interest rate, the SC will become less profitable and competitive
than other firms in the same industry, which are lowly geared. This is
because the SC has to service the interest and to repay the loan, which will
erode part of its profits. The profits will fluctuate depending on the SC's
turnover and the interest it needs to pay.
Overall Accessment:
Generally, the
SC's performance has improved with higher turnover and profit. The SC's
liquidity was at an acceptable range. If the SC is able to obtain further
short term financing, it should be able to meet all its short term
obligations. The SC had an acceptable interest cover. If there is no sudden
sharp increase in interest rate or fall in the SC's profit, we do believe the
SC is able to generate sufficient cash flow to service its interest payment.
The SC's gearing level was high and its going concern will be in doubt if
there is no injection of additional shareholders' funds in times of economic
downturn and / or high interest rates.
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
|
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
|
3.4
|
|
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
|
|
51239 : Wholesale of other foodstuffs e.g mee,kueh teow, wantan skin
and related products,cooking oil, tinned food, etc
|
|
|
|
|
INDUSTRY :
|
FOOD & BEVERAGES
|
|
|
|
|
|
|
Agricultural output will be further boosted by the projected increase in food
production resulting from the various incentives and development programmes
mounted by the government to reduce the high food import bill as well as to
raise farmers' income through diversification into high value food crops
and farming, including aquaculture, floriculture and cultivation of
medicinal plants.
|
|
During the January to November 2007, domestic food manufacturing surged by
7.9%. The food and beverage sector remains dynamic with the opening of new
international and local food chains and outlets throughout the country. The
industry's potential has also attracted the interest of investors in
hospitality-linked companies including the introduction of a new budget
hotel chain patterned after the concept of budget airlines.
|
|
Agricultural produces for food is one of the main thrusts of the Government
towards country's self-sufficiency, and also as a major contributor to the
country's development. The objective is expected to be achieved through
concerted efforts to reduce food imports and fully utilise the nation's
resources. Imports of meat products currently stand at about RM2 billion
annually.
|
|
In addition, turning Malaysia into a halal food hub is still on the agenda,
which partly supports the positive outlook on the domestic food industry;
this is a niche market that is not seen to be vulnerable to the effects of
an economic slowdown in the US. Meanwhile, another area that has
experienced growth and is poised to expand further this year is the
processing and preservation of fish and fish 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.
|
|
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 : Average Growth
|
COMMENTS
|
Formed in 2003, the SC is a private limited company, focusing on wholesale of
consumer goods, canned and frozen foods. Having been in the industry for 5
years, the SC has slowly been building up its reputation and image in the
market. With a paid up capital of RM500,000, the SC's management is
required to put more efforts on its business operations to keep its
business going. Overall, 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. Nonetheless, the
SC is still required to seek more business strategies to stabilise its
position in the market. Presently, the SC has a work force of 50 employees
in the operations. Its management capability is considered average.
|
|
During the financial year 2007, the SC's turnover and pre-tax profit had
increased to RM6.97 million and RM216,479 respectively. The SC has
generated a favourable return on shareholders' funds, indicating that the
SC was efficient in utilising its funds to generate return. However, due to
its weak liquidity position, the SC may face problems in repaying its short
term obligations. A high gearing ratio has placed the SC at high financial
risk. The overall financial performance of the SC is fair.
|
|
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.
|
|
Based on its financial historical data, the SC's payment record is average.
This implies that the SC is able to meet its small and medium commitments.
|
|
As the industry shows an upward trend, we believe it will positively
increase the demand for the SC's products. Nevertheless, the SC faces stiff
competition in the market as it is relatively new in the market.
|
|
In view of the above, we recommend credit be granted to the SC with close
monitoring.
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
SCC MARKETING
(M) SDN BHD
|
|
For The Year
Ended 30-June-2007
|
|
|
|
|
|
|
2007
|
2006
|
|
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
TURNOVER
|
6,967,151
|
6,583,897
|
|
|
==========
|
==========
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
216,479
|
474
|
|
|
|
|
|
|
------------
|
------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
216,479
|
474
|
|
Taxation
|
<41,000>
|
8,000
|
|
PROFIT/(LOSS) AFTER TAXATION
|
------------
175,479
|
------------
8,474
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
------------
175,479
|
------------
8,474
|
|
|
|
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD
|
------------
175,479
|
------------
8,474
|
|
As previous reported
|
87,211
|
78,737
|
|
|
|
|
|
As restated
|
------------
87,211
|
------------
78,737
|
|
|
------------
|
------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
262,690
|
87,211
|
|
|
|
|
|
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD
|
------------
262,690
==========
|
------------
87,211
==========
|
|
RETAINED BY: The Company
|
262,690
|
87,211
|
|
|
|
|
|
|
|
|
|
|
------------
262,690
==========
|
------------
87,211
==========
|
|
INTEREST EXPENSE (as per notes to PL)
|
|
|
|
|
|
|
|
Bank overdraft
|
33,667
|
34,897
|
|
|
|
|
|
Lease interest
|
2,748
|
6,506
|
|
|
|
|
|
|
|
|
|
|
------------
36,415
==========
|
------------
41,403
==========
|
|
|
|
|
BALANCE SHEET
|
SCC MARKETING
(M) SDN BHD
|
|
As At
30-June-2007
|
|
|
|
|
|
|
2007
|
2006
|
|
|
MYR
|
MYR
|
|
|
|
|
|
ASSET EMPLOYED:
|
|
|
|
FIXED ASSETS
|
383,376
|
288,000
|
|
TOTAL LONG TERM ASSETS
|
------------
383,376
|
------------
288,000
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Stocks
|
264,807
|
140,324
|
|
|
|
|
|
Trade debtors
|
1,315,813
|
1,346,125
|
|
Other debtors, deposits &
prepayments
|
59,406
|
66,551
|
|
Short term deposits
|
570,781
|
480,506
|
|
|
|
|
|
Amount due from director
|
101,310
|
101,795
|
|
Cash & bank balances
|
2,358
|
2,775
|
|
TOTAL CURRENT ASSETS
|
------------
2,314,475
|
------------
2,138,076
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Trade creditors
|
781,237
|
771,597
|
|
Other creditors & accruals
|
648,638
|
681,077
|
|
Hire purchase & lease
creditors
|
27,213
|
24,761
|
|
Bank overdraft
|
590,825
|
651,430
|
|
Short term borrowings/Term
loans
|
221,000
|
110,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
------------
2,268,913
|
------------
2,238,865
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
------------
45,562
|
------------
<100,789>
|
|
TOTAL NET ASSETS
|
------------
428,938
==========
|
------------
187,211
==========
|
|
|
|
|
|
FINANCED BY:
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
100,000
|
100,000
|
|
|
|
|
|
TOTAL SHARE CAPITAL
|
------------
100,000
|
------------
100,000
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
|
Retain profit/(Accumulated loss)
carried forward
|
262,690
|
87,211
|
|
|
|
|
|
TOTAL RESERVES
|
------------
262,690
|
------------
87,211
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
------------
362,690
|
------------
187,211
|
|
|
|
|
|
|
|
|
|
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease obligations
|
47,248
|
-
|
|
|
|
|
|
Deferred taxation
|
19,000
|
-
|
|
|
|
|
|
TOTAL LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
------------
66,248
|
------------
-
|
|
|
------------
|
------------
|
|
|
428,938
|
187,211
|
|
|
==========
|
==========
|
|
|
|
|
FINANCIAL RATIOS
|
SCC MARKETING
(M) SDN BHD
|
|
As At
30-June-2007
|
|
|
|
|
|
|
2007
|
2006
|
|
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
573,139
|
483,281
|
|
Net Liquid Funds
|
<238,686>
|
<278,149>
|
|
Net Liquid Assets
|
<219,245>
|
<241,113>
|
|
Net Current Assets/(Liabilities)
|
45,562
|
<100,789>
|
|
Net Tangible Assets
|
428,938
|
187,211
|
|
Net Monetary Assets
|
<285,493>
|
<241,113>
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Borrowings
|
886,286
|
786,191
|
|
Total Liabilities
|
2,335,161
|
2,238,865
|
|
Total Assets
|
2,697,851
|
2,426,076
|
|
Net Assets
|
428,938
|
187,211
|
|
Net Assets Backing
|
362,690
|
187,211
|
|
Shareholders" Funds
|
362,690
|
187,211
|
|
Total Share Capital
|
100,000
|
100,000
|
|
Total Reserves
|
262,690
|
87,211
|
|
|
|
|
|
LIQUIDITY(Times)
|
|
|
|
Cash Ratio
|
0.25
|
0.22
|
|
Liquid Ratio
|
0.90
|
0.89
|
|
Current Ratio
|
1.02
|
0.95
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
14
|
8
|
|
Debtors Ratio
|
69
|
75
|
|
Creditors Ratio
|
41
|
43
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Gearing Ratio
|
2.44
|
4.20
|
|
Liabilities Ratio
|
6.44
|
11.96
|
|
Times Interest Earned Ratio
|
6.94
|
1.01
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
3.11
|
0.01
|
|
Net Profit Margin
|
2.52
|
0.13
|
|
Return On Net Assets
|
58.96
|
22.37
|
|
Return On Capital Employed
|
19.94
|
4.30
|
|
Return On Shareholders'
Funds/Equity
|
48.38
|
4.53
|
|
Dividend Pay Out Ratio (Times)
|
0
|
0
|
|
|
|
|
|
NOTES TO ACCOUNTS
|
|
|
|
Contingent Liabilities
|
0.00
|
0.00
|
|
|
|
|
|
%20SDN%20BHD%2016-May-2008_files/image002.jpg){kind=small}