EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
24423-V
|
|
COMPANY NAME
|
:
|
DEPCO UNITED
SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
03/09/1975
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED
ADDRESS
|
:
|
2433 MUKIM 1,
TINGKAT PERUSAHAAN 6, KAWASAN PERUSAHAAN PRAI, 13600 PRAI, PULAU PINANG, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
2433 MK 1,
TINGKAT PERUSAHAAN 6, KAWASAN PERUSAHAAN PRAI, 13600 PRAI, PULAU PINANG, MALAYSIA.
|
|
TEL.NO.
|
:
|
04-3907285
|
|
FAX.NO.
|
:
|
04-3907154
|
|
CONTACT PERSON
|
:
|
TEOH LAM ENG (
MANAGING DIRECTOR )
|
|
INDUSTRY CODE
|
:
|
24230 15330
|
|
PRINCIPAL
ACTIVITY
|
:
|
VETERINARY
PRODUCTS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
10,000,000.00 DIVIDED INTO
ORDINARY SHARE 10,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID
UP CAPITAL
|
:
|
MYR 8,043,150.00
DIVIDED INTO
ORDINARY SHARES 6,949,750 CASH AND 1,093,400 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 17,979,982
[2006]
|
|
NET WORTH
|
:
|
MYR 14,840,217
[2006]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
55 [2008]
|
|
|
|
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BHD
STANDARD CHARTERED BANK MALAYSIA
BHD
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
FAIR
|
|
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) veterinary 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. TEOH LAM ENG
@ TEOH KOCK HOOI +
|
17B, JALAN
BARRACK, 10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
450626-02-5145 0136641
|
1,066,000.00
|
|
FAM GUAT KEE
|
|
BD412871
|
988,050.00
|
|
MR. TEOH CHING
LEE
|
|
711112-02-5191 A2023929
|
563,000.00
|
|
MR. TEOH CHIN
KIET
|
|
710626-02-5485 A1928482
|
508,270.00
|
|
LYE KIM JOO
|
1098 JLN 1, KG
BERAPIT, 14000 BUKIT MERTAJAM, PULAU PINANG,
MALAYSIA.
|
450202-07-5309 0979384
|
500,000.00
|
|
MR. LYE GIM BOON
|
1098, JALAN 1,
KAMPUNG BERAPIT, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.
|
540221-07-5135 4565160
|
500,000.00
|
|
MS. TEOH LAY
HOON +
|
3 BARRACK CLOSE,
10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
610523-02-5812 6242080
|
380,420.00
|
|
MR. TEOH CHIN
CHOOI
|
50 PEKAN
PENDANG, 06700 PENDANG, KEDAH,
MALAYSIA.
|
690405-02-5427 A1276546
|
290,440.00
|
|
MR. TEOH LAM
TONG @ TEOH AH BA
|
50 PEKAN
PENDANG, 06700 PENDANG, KEDAH,
MALAYSIA.
|
340325-02-5101 0137689
|
283,900.00
|
|
MS. FAM GUAT
HONG +
|
17B, JALAN
BARRACK, 10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
560713-07-5172 4982652
|
225,500.00
|
|
MR. LYE KIM
TIANG
|
51, TINGKAT
BERAPIT 2, TAMAN PEARL, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.
|
371217-07-5103 0309457
|
200,000.00
|
|
MS. TEOH LAY KIM
|
50, PEKAN
PENDANG, 06700 PENDANG, KEDAH,
MALAYSIA.
|
670521-02-5282 A0743648
|
197,900.00
|
|
MS. TEOH TONG
HUA
|
312, JALAN SETIA
9, AIR KEROH HEIGHT, 75450 AIR KEROH, MELAKA,
MALAYSIA.
|
500528-02-5056 7527342
|
188,900.00
|
|
REMAINING
SHAREHOLDERS
|
|
|
2,150,770.00
|
|
|
|
|
---------------
|
|
|
|
|
8,043,150.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. FAM GUAT
HONG
|
|
Address
|
:
|
17B, JALAN
BARRACK, 10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
4982652
|
|
New IC No
|
:
|
560713-07-5172
|
|
Date of Birth
|
:
|
13/07/1956
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
CHINESE
|
|
Date of
Appointment
|
:
|
25/06/1987
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MS. TEOH LAY
HOON
|
|
Address
|
:
|
3 BARRACK CLOSE,
10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
6242080
|
|
New IC No
|
:
|
610523-02-5812
|
|
Date of Birth
|
:
|
23/05/1961
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
CHINESE
|
|
Date of
Appointment
|
:
|
19/02/1993
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. TEOH LAM ENG
@ TEOH KOCK HOOI
|
|
Address
|
:
|
17B, JALAN
BARRACK, 10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
IC / PP No
|
:
|
0136641
|
|
New IC No
|
:
|
450626-02-5145
|
|
Date of Birth
|
:
|
26/06/1945
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
CHINESE
|
|
Date of
Appointment
|
:
|
03/09/1975
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TEOH LAM ENG
|
|
|
Position
|
:
|
MANAGING
DIRECTOR
|
AUDITOR
|
Auditor
|
:
|
LOOI SOO WAH
& CO
|
|
Auditor' Address
|
:
|
255, LEBUH VICTORIA, 10300 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
COMPANY SECRETARIES
|
1)
|
Company
Secretary
|
:
|
MR. TAN CHU HAW
|
|
|
IC / PP No
|
:
|
A3422312
|
|
|
New IC No
|
:
|
760426-07-5723
|
|
|
Address
|
:
|
347V, TINGKAT
PEMANCAR, 11700 GELUGOR, PULAU PINANG,
MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BHD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
STANDARD
CHARTERED 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
|
:
|
26/04/1983
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM220,000.00
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BHD
|
|
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 5 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
02/10/1986
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 6 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
02/10/1986
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM845,000.00
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 7U1 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
02/10/1986
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM100,000.00
|
|
Description Of Property
Affected
|
:
|
|
HSD 124 LOT
1223 PLOT 1 SEC 3, GEORGETOWN NED, HSD
2514 LOT PT 1079 MK 1, PWC PG
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 7 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
12/08/1987
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM585,000.00
|
|
Description Of
Property Affected
|
:
|
|
HSD 124 LOT
1223 PLOT 1 SEC 3, GEORGETOWN NED, HSD
2514 LOT PT 1079 MK 1, PWC PG
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 8 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
18/02/1987
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM585,000.00
|
|
Description Of
Property Affected
|
:
|
|
HSD 124 LOT
1223 PLOT 1 SEC 3, GEORGETOWN
NED, HSD 2514, LOT PR 1079 MK 1, PWC PG
|
|
|
Name & Address
Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 9 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
07/09/1987
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM100,000.00
|
|
Description Of
Property Affected
|
:
|
|
HSD 124 LOT
1223 PLOT 1 SEC 3 GEORGETOWN NED, HSD 2514
LOT PT 1079 MK 1 PWC PG
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 10 In The Register of Charges
|
ENCUMBRANCE 8
|
Date of Creation
|
:
|
02/07/1988
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM160,000.00
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BHD
|
|
BANGUNAN MIDF,
195A, JALAN TUN RAZAK, 50400 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 11 In The Register of Charges
|
ENCUMBRANCE 9
|
Date of Creation
|
:
|
12/02/1990
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
RM845,000.00
|
|
Description Of
Property Affected
|
:
|
|
HSD 2514 PT
1079, MK 1 PRAI INDUSTRIAL ESTATE PRAI, HSD 2470 PT 1085, MK 1 PENANG,
HSD 124 PLOT 1 SEC 3, TOWN GEORGETOWN PENANG
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
3711, JALAN
BAGAN LUAR, 12000 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 12 In The Register of Charges
|
ENCUMBRANCE 10
|
Date of Creation
|
:
|
10/08/1999
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
O/D
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
STANDARD
CHARTERED BANK MALAYSIA
BHD
|
|
|
|
|
Form 40 Dated
|
|
Registered and
Numbered 13 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
|
:
|
ASIA,EUROPE
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
90%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
10%
|
|
Export Market
|
:
|
INDONESIA
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC
TRANSFER (TT)
|
The SC sells its products to the poultry farmers and others.
OPERATIONS
|
Products
manufactured
|
:
|
|
VETERINARY MEDICINE, FEED ADDITIVES,
ANIMAL PREMIX, PHARMACEUTICAL PRODUCTS
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
APEX HEALTHCARE BHD
|
|
GLAXOSMITHKLINE CONSUMER HEALTHCARE SDN
BHD
|
|
GLAXOSMITHKLINE PHARMACEUTICAL SDN BHD
|
|
IDAMAN PHARMA MANUFACTURING SDN BHD
|
|
Y.S.P. INDUSTRIES (M) SDN BHD
|
|
|
|
|
|
|
Member(s) /
Affiliate(s)
|
:
|
|
SMI
ASSOCIATION OF MALAYSIA
|
|
|
|
|
|
|
Total Number of
Employees:
|
|
|
YEAR
|
2008
|
2007
|
2006
|
2005
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
COMPANY
|
55
|
50
|
50
|
50
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) veterinary products.
The SC is principally engaged in the manufacturing and sale of animal health
products.
The SC sources the ingredients from both local and overseas countries and
undertakes mixing and blending for the final products.
The SC products range includes veterinary medicines, feed additives, animal
premix and pharmaceutical products.
We were informed that the SC produces its products for poultries and swines.
Besides that the SC is also has warehouses located in Johor Bharu, Ipoh and Port Dickson.
The SC's production site is equipped with semi-automated machineries.
In addition the SC provides delivery services to the customers' door step.
The SC packs the products in paper bags according to the quantity required by
its customers.
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
|
:
|
04-3907285
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided
by Client
|
:
|
2433 MK 1,
TINGKAT PERUSAHAAN 6, KAWASAN PERUSAHAAN PRAI, 13600 PRAI, PULAU PINANG.
|
|
Current Address
|
:
|
2433 MK 1,
TINGKAT PERUSAHAAN 6, KAWASAN PERUSAHAAN PRAI, 13600 PRAI, PULAU PINANG, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial
Accounts
|
:
|
YES
|
Other Investigations
We contacted Ms Lee, the Assistant to the Managing Director. She furnished
some information on the SC; operation.
FINANCIAL COMMENTS
The
financial summary of the SC in Year 2006 showed that it was financially FAIR.
The SC has generated a favourable return on its shareholders' funds,
indicating that the SC was efficient in utilising its shareholders' funds to
generate favourable 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. The SC had an acceptable liabilities ratio indicating that the
SC has an acceptable level of liabilities relative to shareholders' funds.
The SC should be able to maintain its business in the near term, given a
positive net worth standing at RM14,840,217.
Overall financial condition of the SC : FAIR
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
|
|
24230 : Manufacture
of pharmaceuticals, medicinal chemicals and botanical products
|
|
15330 :
Manufacture of prepared animal feeds (for dogs, cats, birds, fish or other
pet animals and farm animals)
|
|
|
|
|
INDUSTRY :
|
PHARMACEUTICAL
|
|
According to Malaysian Organization of Pharmaceutical Industries (MOPI),
the products manufactured by the Malaysian pharmaceutical industry are
broadly categorized into 4: prescription, over-the-counter (OTC),
traditional medicines and health & food supplement. The pharmaceutical
industry in the country is looking quite good in year 2008. The Malaysia
pharmaceutical industry, which is valued at $1.03 billion (RM3.23 billion)
in 2007, will record a compound annual growth rate of 10.5% and reach the
$1.8 billion mark by 2013. Main growth is expected to be seen in generic
medication, therapy, over-the-counter (OTC) and traditional & herbal
supplements.
|
|
The generic products and medication will continue to be major source of
medication with the government set to become the main purchaser from the
pharmaceutical companies. More general hospitals are also being built and
it is only natural that the demand for the generic medications increases
for public consumption. A shift in the lifestyle, especially those in the
urban areas, are now producing more health conscious people, and this in
turn allows the supplement products to make way and penetrate larger share
of market. In fact, not only pharmaceutical companies who are making wave,
the development also attract MLM (Multi-Level Marketing) players.
|
|
Additionally, expiry of patents (which means that the patented technology
is no longer protected by intellectual property law and can be imitated)
will result in companies competing with each other to produce and market
the same products. Government-to-Government collaborations, including free
trade agreements (FTAs), will be leveraged upon to improve the perception
of and gain market acceptance for Malaysian pharmaceutical products. The
expansion and interesting development of biotechnology will also help
prospering the pharmaceutical industry, despite hiccups here. Modern
manufacturing techniques of pharmaceutical products today rely heavily on
biotechnology especially in the production of antibodies and vaccines. The
fact that Malaysia
is ranked among one of the top biodiversity centers in the world does not
count for nothing.
|
|
Exports are targeted to grow at an annual rate of 6.3 per cent to reach
RM1.2 billion by 2020. Total exports of medicinal and pharmaceutical
products increased to RM678 million in 2007 from RM495 million in 2006.
Imports of pharmaceutical products amounted to RM2.9 billion, comprising
mainly branded and patented drugs not produced in the country.
|
|
To assist growth of the pharmaceutical industry, there are now seven
bio-equivalence and bio-availability clinical centres in the country to
further develop clinical trials. Malaysia recognises the current
global demand and offers international pharmaceutical companies lower-cost
avenues to conduct clinical trials. According to Malaysia External Trade
Development Corp (Matrade), the country's pharmaceutical industry, led by
235 licensed companies, has high-growth potential in the domestic as well
as export markets. As at end-2007, 175 companies were involved in producing
traditional medicine while 60 produced modern medicine. Because of the
small domestic market, Malaysian pharmaceutical makers are also looking at
penetrating global markets.
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : Strong Growth
|
COMMENTS
|
The SC was established in 1975, it is principally engaged in veterinary
products such as veterinary medicines, feed additives, animal premix and
pharmaceutical products. 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. Presently, the SC's paid up
capital stands at RM8,043,150.
|
|
Over the years, the SC has developed a wide and stable clientele base in
the market. As 90% of its incomes are generated from the local market, the
SC is vulnerable to the changes in the local economy. Nonetheless, the SC
does not face significant business risk as it handles overseas customers
occasionally. Currently, the SC has a work force of 55 employees in the
operations. Its management capability is considered average.
|
|
Referring to the financial year 2007, the SC registered pre-tax profit of
RM1.64million, on the back of RM17.97million in its turnover. Return on
shareholders' funds was at an acceptable range, indicating that the
management was efficient in utilising its funds to generate returns.
Besides, the SC had an adequate liquidity position as well. Moreover, an
acceptable liabilities ratio clearly implies that the SC has an acceptable
level of liabilities relative to shareholders' funds.
|
|
The SC's supplies are sourced locally and internationally. Its long
presence in the market has enabled the SC to bargain with its suppliers for
lower prices and higher quality products.
|
|
The SC is clear of any litigation.
|
|
The industry remains robust with the encouraging demand for its products.
Due to the challenging market condition, the SC should employ more
competitive strategies in order to retain its market position.
|
|
In view of the above, we recommend credit be granted to the SC normally.
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS
ACCOUNT
|
|
DEPCO UNITED
SDN BHD
|
|
31-08-2006
|
|
Consolidated
Accounts
|
:
|
NO
|
|
UnQualified
Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
17,979,982.00
|
|
Operating
Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss)
Before Tax
|
1,647,042.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss)
After Tax
|
507,057.00
|
|
Extraordinary
Item
|
0.00
|
|
Minority
Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss)
Attributable to Shareholders
|
507,057.00
|
|
|
---------------------
|
|
|
|
Prior Period
Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred
To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated
Profit/(Loss) Brought Forward
|
5,653,774.00
|
|
|
---------------------
|
|
Unappropriated
Profit/(Loss) Carried Forward
|
6,160,831.00
|
|
|
================
|
|
BALANCE SHEET
|
|
DEPCO UNITED
SDN BHD
|
|
31-08-2006
|
|
Consolidated
Accounts
|
:
|
NO
|
|
UnQualified
Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
0.00
|
|
Total Investment
|
0.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
15,968,472.00
|
|
Intangible
Assets
|
0.00
|
|
Other Assets
|
12,464,713.00
|
|
|
---------------------
|
|
Total Assets
|
28,433,185.00
|
|
|
================
|
|
|
|
|
Working Capital
|
2,375,504.00
|
|
|
|
|
Issued Capital
|
8,043,150.00
|
|
Paid Up Capital
|
8,043,150.00
|
|
Share Premium
& Reserved
|
636,236.00
|
|
Unappropriated
Profit/(Loss)
|
6,160,831.00
|
|
|
---------------------
|
|
Shareholder's
Fund/Equity
|
14,840,217.00
|
|
|
---------------------
|
|
|
|
Current
Liabilities
|
13,592,968.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and
Deferred Liabilities
|
0.00
|
|
Share Application
Account
|
0.00
|
|
Minority
Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity
Liability
|
28,433,185.00
|
|
|
================
|
|
|
|
|
Contingent
Liabilities
|
0.00
|
|
