MIRA INFORM REPORT

 

 

 

Report Date :

14.11.2008

 

IDENTIFICATION DETAILS

 

Name :

CALEE JEWELS (M) SDN BHD

 

 

Registered Office :

Suite 12b-23, Wisma Zelan, 1, Jalan Tasik Permaisuri 2, Bandar Tun Razak, Cheras, Level 12b, 56000 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

02.10.2006

 

 

Com. Reg. No.:

749187-T

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trading of Jewelleries

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

 

* Adopted abbreviations :          SC - Subject Company (the company enquired by you)

                                               N/A - Not Applicable

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

749187-T

COMPANY NAME

:

CALEE JEWELS (M) SDN BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

02/10/2006

COMPANY STATUS

:

EXIST

LEGAL STATUS

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

SUITE 12B-23, WISMA ZELAN, 1, JALAN TASIK PERMAISURI 2, BANDAR TUN RAZAK, CHERAS, LEVEL 12B, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

75, AHQUEE STREET, 10200 PULAU PINANG, PULAU PINANG, MALAYSIA.

TEL.NO.

:

04-2635575

FAX.NO.

:

04-2635575

CONTACT PERSON

:

RAHUL RAMONKAR KUMAR ( MANAGING DIRECTOR )

 

 

 

INDUSTRY CODE

:

51393

PRINCIPAL ACTIVITY

:

TRADING OF JEWELLERIES

AUTHORISED CAPITAL

:

MYR 500,000.00 DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 400,000.00 DIVIDED INTO
ORDINARY SHARES 2 CASH AND 399,998 OTHERWISE OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 550,951 [2007]

NET WORTH

:

MYR 277,219 [2007]

 

 

 

STAFF STRENGTH

:

N/A

BANKER (S)

:

MALAYAN BANKING BHD

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

WEAK

 

 

 

COMMERCIAL RISK

:

HIGH

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) trading of jewelleries.

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. AMEER TAJUDIN BIN ABDUL WAHAB +

20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

561215-07-5385 5100544

180,000.00

MR. TAN KOK SEONG +

20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

740218-07-5587 A2721958

100,000.00

RAHUL RAMONKAR KUMAR +

32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA, OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

F4200521

60,000.00

HIMAT BHAI POPAT BHAI LATHIYA +

32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA, OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Z1321564

60,000.00

 

 

 

---------------

 

 

 

400,000.00

 

 

 

============

 

+ Also Director

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

RAHUL RAMONKAR KUMAR

Address

:

32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA, OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

F4200521

Nationality

:

N/A

Date of Appointment

:

02/10/2006

 

DIRECTOR 2

 

Name Of Subject

:

HIMAT BHAI POPAT BHAI LATHIYA

Address

:

32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA, OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

Z1321564

Nationality

:

N/A

Date of Appointment

:

02/10/2006

 

DIRECTOR 3

 

Name Of Subject

:

MR. TAN KOK SEONG

Address

:

20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

IC / PP No

:

A2721958

New IC No

:

740218-07-5587

Date of Birth

:

18/02/1974

Nationality

:

MALAYSIAN CHINESE

Date of Appointment

:

02/10/2006

 

DIRECTOR 4

 

Name Of Subject

:

MR. AMEER TAJUDIN BIN ABDUL WAHAB

Address

:

20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

IC / PP No

:

5100544

New IC No

:

561215-07-5385

Date of Birth

:

15/12/1956

Nationality

:

MALAYSIAN MALAY

Date of Appointment

:

02/10/2006


MANAGEMENT

 

 

 

1)

Name of Subject

:

RAHUL RAMONKAR KUMAR

 

Position

:

MANAGING DIRECTOR

 

 

 

 

 

2)

Name of Subject

:

HIMAT BAHI POPAT

 

Position

:

SALES DIRECTOR

 

 

 

 

 

3)

Name of Subject

:

AMEER TAJUDIN

 

Position

:

PURCHASING DIRECTOR

 

 

 

 

 

 

AUDITOR

 

Auditor

:

S P TAN & SUNDAR

Auditor' Address

:

SUITE 12B-22, WISMA ZELAN, 1 JALAN TASIK PERMAISURI 2, BANDAR TUN RAZAK, CHERAS, LEVEL 12B, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. VIPIN KUMAR @ SURDASS

 

IC / PP No

:

4243746

 

New IC No

:

511114-10-5957

 

Address

:

11, LORONG RAHIM KAJAI 8, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

2)

Company Secretary

:

MS. T RATNAJOTHY D/O THAMBIDURAI

 

IC / PP No

:

5479627

 

New IC No

:

580606-08-5146

 

Address

:

LOT 587/72, JALAN NGP 2/4, NEW GREEN PARK, 48000 RAWANG, SELANGOR, MALAYSIA.

 

 

 

 

 

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

:

INDIA,EUROPE,MIDDLE EAST



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 :

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Percentage

:

0%

 

 

 

 

 

 

Credit Term

:

AS AGREED

 

 

 

 

 

 

Payment Mode

:

CHEQUES,TELEGRAPHIC TRANSFER (TT),CASH

Type of Customer

:

DEALERS,END USERS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

JEWELLERIES

 

 

 

Competitor(s)

:

KAH HONG TRADING SDN BHD

MALAYSIAN INDUSTRIAL DIAMOND & SYNTHESIZING SDN BHD

MMC (1976) BHD

PUSAT EMAS & PERMATA AHMAD ISMAIL SDN BHD

WAH CHAN CONSOLIDATED SDN BHD

 

 

 

Ownership of premises

:

LEASED/RENTED

 

Branch

:

NO

Other Information:


The SC is principally engaged in the (as a / as an) trading of jewelleries.

The SC sells all kinds of gemstones, diamonds and other decorative stones.

The SC acts as the distributor for the stones.

The SC is also able to import stones according to its customers' requirements.

The SC keeps stock of the products.

We were informed that the SC has no employees as it is overseen by its Management.

 

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 investigations.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

04-2635575

Match

:

N/A

 

 

 

Address Provided by Client

:

DESA CONDOMINIUM, JL BUKIT DESA 3, TAMAN BUKIT DESA LANDMARK NR OLD KINAG RD, PK 5800, KULALAMPUR

Current Address

:

75, AHQUEE STREET, 10200 PULAU PINANG, PULAU PINANG, MALAYSIA.

Match

:

NO

 

 

 

Latest Financial Accounts

:

YES

 

Other Investigations


We conducted an interview with the Managing Director, Mr Rahul Kumar. He kindly furnished us some information pertaining on the SC and its related services and operations.

We have verified and confirmed that the address provided is invalid.

FINANCIAL COMMENTS

 

Only one year account is available for the SC. Without any comparison with previous year account, our comments on the SC's financial performance is restricted.

ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2005

2006

2007

2008*

2009**

 

 

 

 

 

 

Population ( Million)

26.13

26.64

27.17

27.73

28.31

Gross Domestic Products ( % )

5.3

5.8

6.3

5.0

3.5

Domestic Demand ( % )

7.3

7.0

9.0

6.1

6.0

Private Expenditure ( % )

9.5

7.0

8.6

6.6

6.4

Consumption ( % )

9.2

7.1

9.0

6.8

6.5

Investment ( % )

8.5

7.0

7.1

6.2

5.8

Public Expenditure ( % )

3.6

6.8

10.1

4.7

5.1

Consumption ( % )

5.4

5.0

10.8

5.7

4.0

Investment ( % )

1.9

8.9

9.3

3.6

6.4

 

 

 

 

 

 

Balance of Trade ( MYR Million )

99,760

108,192

100,340

115,563

126,650

Government Finance ( MYR Million )

<18,684>

<19,109>

<19,948>

<34,462>

<28,450>

Government Finance to GDP / Fiscal Deficit ( % )

<3.8>

<3.3>

<3.2>

<4.8>

<4.8>

Inflation ( % Change in Composite CPI)

3.1

3.9

2.0

4.4

5.0

Unemployment Rate

3.5

3.4

3.2

3.3

3.2

 

 

 

 

 

 

Net International Reserves ( MYR Billion )

266

290

336

388

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

5.13

4.21

3.04

1.91

-

Average 3 Months of Non-performing Loans ( % )

13.63

12.91

13.30

13.24

-

Average Base Lending Rate ( % )

6.00

6.61

6.72

6.72

-

Business Loans Disbursed( % )

8.7

<2.5>

9.1

-

-

Foreign Investment ( MYR Million )

17,882.9

20,228.0

33,426.0

23,261.4

-

Consumer Loans ( % )

-

-

-

-

-

 

 

 

 

 

 

Registration of New Companies ( No. )

37,474

38,293

43,337

-

-

Registration of New Companies ( % )

<2.9>

2.2

13.2

-

-

Liquidation of Companies ( No. )

3,069

8,647

22,629

-

-

Liquidation of Companies ( % )

<7.9>

181.8

161.5

-

-

 

 

 

 

 

 

Registration of New Business ( No. )

193,095

216,147

227,410

-

-

Registration of New Business ( % )

2.1

11.9

5.2

-

-

Business Dissolved ( No. )

73,355

52,879

20,431

-

-

Business Dissolved ( % )

43.0

<27.9>

<61.4>

-

-

 

 

 

 

 

 

Sales of New Passenger Cars (' 000 Unit )

400.8

446.2

442.9

-

-

Cellular Phone Subscribers ( Million )

18.5

19.5

23.3

25.1

-

Tourist Arrival ( Million Persons )

16.7

17.5

20.9

21.5

-

Hotel Occupancy Rate ( % )

63.6

64.8

70.0

68.0

-

 

 

 

 

 

 

Credit Cards Spending ( % )

13.9

15.4

20.1

-

-

Bad Cheque Offenders (No.)

57,316

36,555

30,004

-

-

Individual Bankruptcy ( No.)

15,868

13,596

13,238

-

-

Individual Bankruptcy ( % )

<2.4>

<14.3>

<2.6>

-

-

 

INDUSTRIES ( % of Growth ):

2005

2006

2007

2008*

2009**

 

 

 

 

 

 

Agriculture

2.5

5.3

3.1

3.6

3.7

Palm Oil

7.1

5.8

<0.6>

7.0

-

Rubber

<2.9>

12.6

1.0

<1.1>

-

Forestry & Logging

2.0

<0.4>

2.8

<1.5>

-

Fishing

<0.4>

9.3

5.2

4.0

-

Other Agriculture

3.2

5.3

7.0

5.9

-

Industry Non-Performing Loans ( MYR Million )

563.7

516.5

487.3

393

0

% of Industry Non-Performing Loans

1.19

1.06

1.08

0

0

 

 

 

 

 

 

Mining

0.8

<0.4>

3.3

2.8

3.4

Oil & Gas

1.6

4.6

2.2

12.7

-

Other Mining

<1.0>

5.1

-

-

-

Industry Non-performing Loans ( MYR Million )

68.8

55.4

42.2

36.0

-

% of Industry Non-performing Loans

0.1

0.1

0.1

-

-

 

 

 

 

 

 

 

Manufacturing #

5.1

7.3

3.1

4.7

4.3

Exported-oriented Industries

3.0

11.1

<1.9>

2.7

-

Electrical & Electronics

3.6

13.4

3.0

2.4

-

Rubber Products

2.4

0.4

8.0

4.2

-

Wood Products

0.9

0.7

3.3

<6.0>

-

Textiles & Apparel

<4.4>

12.6

<10.1>

1.9

-

Domestic-oriented Industries

6.9

5.0

5.3

9.9

-

Food, Beverages & Tobacco

7.7

4.8

5.6

9.5

-

Chemical & Chemical Products

6.9

1.7

9.2

1.4

-

Plastic Products

18.6

21.3

<3.6>

6.5

-

Iron & Steel

<6.7>

<6.9>

17.5

16.8

-

Fabricated Metal Products

<7.5>

20.0

26.2

14.7

-

Non-metallic Mineral

<6.0>

<1.9>

6.6

8.3

-

Transport Equipment

10.4

5.3

<19.0>

27.1

-

Paper & Paper Products

4.6

4.1

14.9

8.6

-

Crude Oil Refineries

8.2

12.1

8.6

7.8

-

Industry Non-Performing Loans ( MYR Million )

6,035.6

6,181.3

6,366.2

5,729.4

-

% of Industry Non-Performing Loans

 

 

 

 

 

 

 

 

 

 

 

Construction

<1.6>

<0.5>

4.6

4.0

3.1

Industry Non-Performing Loans ( MYR Million )

5,172.7

5,527.3

5,116.7

4,149.8

-

% of Industry Non-Performing Loans

10.9

11.4

11.3

-

-

 

 

 

 

 

 

Services

6.6

7.2

9.7

7.7

6.9

Electric, Gas & Water

5.5

5.2

4.6

5.0

4.3

Transport, Storage & Communication

6.3

5.2

7.6

7.8

7.3

Wholesale, Retail, Hotel & Restaurant

8.0

7.1

11.6

10.0

7.4

Finance, Insurance & Real Estate

7.0

7.7

10.7

9.2

8.1

Government Services

7.6

9.8

4.6

8.6

4.0

Other Services

5.0

4.7

5.0

5.9

5.4

Industry Non-Performing Loans ( MYR Million )

8,716.8

11,593.2

10,207.8

8,281.4

-

% of Industry Non-Performing Loans

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

51393 : Wholesale of jewellery, watches, clocks and silverware

 

 

INDUSTRY :

TRADING

 


The country's retail sector has moderated in the face of higher fuel and electricity prices and the outlook for the industry remains murky as inflation catches up with consumer sentiment and retailing costs.


According to Retail Group Malaysia (RGM), survey was being conducted shows that retail sales may grow 7% in 2008, slowing from last year's 12.8% pace that was the fastest since 1992. Sales gained 6.9% in the first six months from a year earlier. Besides, the industry report shows that the industry sales for the first six months (1H) grew 6.9% year-on-year, even as the rising price of energy and food took a big bite out of consumers' disposable income. But with inflation hitting 7.7% and 8.5% in June and July, respectively, it was unclear whether the 6.9% rate growth could be sustained.


Retailers may not as gung-ho as before but the outlook is still optimistic for certain categories such as pharmaceuticals and those in the supermarket business - the essentials. But areas such as fashion are still suffering.


We believe retail sales performance remains sluggish amidst the rising costs of living. The energy and food crises during the middle of the year had affected the average Malaysian consumer. Retail growth is expected to be maintained through 2H08, and estimates 7% retail growth for the entire year.


Prime Minister Datuk Seri Abdullah Ahmad Badawi raised petrol prices by 41% in June as he sought to contain the government's fuel subsidy bill amid soaring crude oil costs. A 5.6% cut in the petrol price and budget measures such as tax cuts and free electricity for the poor announced last month won't be enough to revive spending.


According to Budget 2009, it did not introduce direct measures to boost consumer spending. Although the government has introduced plenty of incentives to lessen Malaysians' financial burden, they do not encourage higher retail spending.


Retailers were only now beginning to feel the pinch of the hike in energy prices, which might translate into a slower growth rate for 2H08. More importantly, the sudden hike in prices had dampened consumer sentiment. Public messages from the government and the media telling Malaysians to spend less will also affect retailers


However, Malaysia Savings Sale at the end of the year would inject some excitement into the retail industry, and enable the local industry to compete with regional retailers. Besides, the year-end sale is expected to help boost numbers leading into 2009.

 

 

OVERALL INDUSTRY OUTLOOK : Average Growth

 

COMMENTS

 


Incorporated in 2006, the SC is primarily involved in trading of jewelleries. The SC is a private limited company with a small paid up capital of RM400,000 contributed by individual shareholders. Without strong shareholders' backing, the SC may face difficulties in expanding its business when the needs arise.


As the SC is newly established, the SC has yet to built up its clientele base. Information revealed that the SC solely focuses on the domestic market. With such narrow market segment, the SC is likely to be exposed to higher commercial risk and affected by the uncertainties in the local economy. Besides, this will limit the SC's business expansion opportunities as well. Overseen by managing director, Rahul Ramonkar Kumar, overall management capability of the SC can be considered weak.


For the financial year ended 2007, the SC has recorded a total turnover of RM550,951 and suffered pre-tax losses of RM122,781. It is likely to incur start-up costs during the initial years of its operations. Due to these losses, the SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Nevertheless, the SC managed to maintain an adequate liquidity level, indicating that the SC has the ability to meet its financial obligations. Being a zero geared company, the SC virtually has no financial risk as it is mainly dependent on its internal funds to finance its business.


The SC's products are sourced locally and internationally. As the SC is still new in the market, it might deal with limited number of suppliers.


The SC is clear of any litigation.


The industry shows an upward trend and the trend is likely to sustain in the near term. However, the SC's business performance is much depending on the economic condition and consumer's spending power on luxury goods such as jewelleries. With the promising outlook of the industry performance, the SC should adopt more competitive strategies in order to capture higher market shares and compete with other long established players in the same field.


In view of the above and based on our assessment, we only recommend a small amount of credit be proceeded to the SC with guarantee.



 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.

CALEE JEWELS (M) SDN BHD

For The Year Ended 31-December-2007

 

 

15 month

 

2007

 

MYR

 

 

TURNOVER

550,951

 

==========

PROFIT/(LOSS) FROM OPERATIONS

<122,781>

 

 

 

------------

PROFIT/(LOSS) BEFORE TAXATION

<122,781>

 

 


PROFIT/(LOSS) AFTER TAXATION

------------
<122,781>

 

 


PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS

------------
<122,781>

 

 


PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD

------------
<122,781>

 

 

 

------------

PROFIT AVAILABLE FOR APPROPRIATIONS

<122,781>

 

 


RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD

------------
<122,781>
==========

RETAINED BY: The Company

<122,781>

 

------------
<122,781>
==========

 

 

 

 

 

BALANCE SHEET

 

 

CALEE JEWELS (M) SDN BHD

As At 31-December-2007

 

 

15 month

 

2007

 

MYR

 

 

 

ASSET EMPLOYED:

 

FIXED ASSETS

5,699

 

 

 

TOTAL LONG TERM ASSETS

------------
5,699

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

Stocks

144,534

 

 

 

 

Trade debtors

207,669

 

Other debtors, deposits & prepayments

3,300

 

 

 

 

Amount due from director

212,765

 

Cash & bank balances

340

TOTAL CURRENT ASSETS


------------
568,608

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

252,967

 

Other creditors & accruals

12,048

 

 

 

 

Amounts owing to director

32,073

TOTAL CURRENT LIABILITIES

------------
297,088

NET CURRENT ASSETS/(LIABILITIES)

------------
271,520

TOTAL NET ASSETS

------------
277,219
==========

FINANCED BY:

 

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

400,000

 

 

 

TOTAL SHARE CAPITAL

------------
400,000

 

 

 

RESERVES

 

 

 

 

 

Retain profit/(Accumulated loss) carried forward

<122,781>


TOTAL RESERVES

------------
<122,781>


SHAREHOLDERS' FUNDS/EQUITY


------------
277,219

 

 

 

 

------------

 

277,219

 

==========

 

 

 

 

FINANCIAL RATIOS

 

 

CALEE JEWELS (M) SDN BHD

As At 31-December-2007

 

 

15 month

 

2007

 

MYR

TYPES OF FUNDS

 

 

Cash

340

 

Net Liquid Funds

340

 

Net Liquid Assets

126,986

 

Net Current Assets/(Liabilities)

271,520

 

Net Tangible Assets

277,219

 

Net Monetary Assets

126,986

 

 

 

BALANCE SHEET ITEMS

 

 

Total Borrowings

0

 

Total Liabilities

297,088

 

Total Assets

574,307

 

Net Assets

277,219

 

Net Assets Backing

277,219

 

Shareholders" Funds

277,219

 

Total Share Capital

400,000

 

Total Reserves

<122,781>

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

96

 

Debtors Ratio

138

 

Creditors Ratio

168

 

 

 

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0

 

Liabilities Ratio

1.07

 

Times Interest Earned Ratio

0

 

 

 

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

<22.29>

 

Net Profit Margin

<22.29>

 

Return On Net Assets

<44.29>

 

Return On Capital Employed

<44.29>

 

Return On Shareholders' Funds/Equity

<44.29>

 

Dividend Pay Out Ratio (Times)

0

 

 

 

NOTES TO ACCOUNTS

 

 

Contingent Liabilities

0.00

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.46

UK Pound

1

Rs.73.17

Euro

1

Rs.62.96

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions