|
Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
719055-H
|
|
COMPANY NAME
|
:
|
FURSAN FOOD INDUSTRY SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
22/12/2005
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
7-3 JALAN WANGSA DELIMA 5, SECTION 5, PUSAT BANDAR WANGSA MAJU
(KLSC), 53300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
50 & 52, JALAN SULAIMAN 1, TAMAN PUTRA SULAIMAN, 68000 AMPANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-42703244
|
|
FAX.NO.
|
:
|
03-42703245
|
|
CONTACT PERSON
|
:
|
AZMI ( DIRECTOR )
|
|
INDUSTRY CODE
|
:
|
51239
|
|
PRINCIPAL ACTIVITY
|
:
|
SUPPLY OF FOOD PRODUCTS
|
|
AUTHORISED CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARES 1,000,000 CASH OF MYR 1.00 EACH.
|
|
SALES
|
:
|
MYR 590,971 [2007]
|
|
NET WORTH
|
:
|
MYR 532,208 [2007]
|
|
STAFF STRENGTH
|
:
|
10 [2011]
|
|
BANKER (S)
|
|
MALAYAN BANKING BHD
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD2,303
|
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) supply of food products.
The SC is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The major shareholder(s) of the SC are
shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MR. MOHAMMAD SUBHI HASSAN ABDEL NABI
|
|
600322-71-5439
|
450,000.00
|
|
NADJIB SOLTANI +
|
214 IDAMAN SURIA, JALAN 21/10, MEDAN
IDAMAN, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
P02031007
|
250,000.00
|
|
MS. BIBI SUNITA BINTI SAKANDAR KHAN
|
4, LORONG AU1/3G, TAMAN KERAMAT PERMAI, 54200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
700618-10-6366
A1538039
|
300,000.00
|
|
|
|
|
---------------
|
|
|
|
|
1,000,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. AZMI BIN ABDUL RAOF
|
|
Address
|
:
|
10 JALAN 4/12P, SECTION 4, 43650 BANDAR BARU BANGI, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
A0750998
|
|
New IC No
|
:
|
670705-04-5157
|
|
Date of Birth
|
:
|
05/07/1967
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
23/03/2010
|
DIRECTOR 2
|
Name Of Subject
|
:
|
KALI DJAFFAR
|
|
Address
|
:
|
18-1 IDAMAN PUTRI, JALAN 13/21D, MEDAN IDAMAN, 53100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
P5937102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
23/03/2010
|
DIRECTOR 3
|
Name Of Subject
|
:
|
NADJIB SOLTANI
|
|
Address
|
:
|
214 IDAMAN SURIA, JALAN 21/10, MEDAN
IDAMAN, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
P02031007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
23/10/2007
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
AZMI
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
AZMAN AHMAD & CO
|
|
Auditor' Address
|
:
|
LOT 03-17B, KOMPLEKS PKNS, LEVEL 3, 40000 SHAH ALAM, SELANGOR, MALAYSIA.
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. BIBI SUNITA BINTI SAKANDAR KHAN
|
|
|
IC / PP No
|
:
|
A1538039
|
|
|
New IC No
|
:
|
700618-10-6366
|
|
|
Address
|
:
|
4, LORONG AU1/3G, TAMAN KERAMAT PERMAI, 54200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
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.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SC
* We have checked through the SC in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
Import Countries
|
:
|
MIDDLE EAST
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
|
OPERATIONS
|
Goods Traded
|
:
|
FOOD PRODUCTS
|
|
|
|
|
|
Competitor(s)
|
:
|
AURIC CHUN YIP
SDN BHD
HARPERS TRADING (MALAYSIA)
SDN BHD
LUCKY FROZEN SDN BHD
LUN HENG SDN BHD
PGEO GROUP SDN BHD
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2011
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
10
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) supply of food products.
The SC sells all kinds of food products especially imported from the Middle East area.
The SC sells the products to dealers and shops.
The SC however refused to reveal more information on its operation.
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
|
:
|
0060166269675
|
|
Current Telephone Number
|
:
|
03-42703244
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
50-527 ALAN SULAIMAN, TAMAN PUTR
68000 AMPANG :
|
|
Current Address
|
:
|
50 & 52, JALAN SULAIMAN 1, TAMAN PUTRA SULAIMAN, 68000 AMPANG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts. However they have rejected our request in view
of the confidentiality of the documents.
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
The address provided is incorrect.
FINANCIAL COMMENTS
The SC's latest
financial accounts are up to 2007, which is out dated in our opinion. Therefore,
our comment on the SC financial performance is restricted thereto.
Overall financial condition of the SC : N/A
ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic Indicators:
|
2007
|
2008
|
2009
|
2010*
|
2011**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
27.17
|
27.73
|
28.31
|
28.88
|
29.13
|
|
Gross Domestic Products ( % )
|
6.3
|
4.6
|
<0.5>
|
6.9
|
5.8
|
|
Domestic Demand ( % )
|
9.0
|
6.9
|
2.9
|
4.6
|
4.8
|
|
Private Expenditure ( % )
|
8.6
|
7.1
|
<2.7>
|
8.1
|
7.0
|
|
Consumption ( % )
|
9.0
|
8.4
|
0.7
|
6.7
|
6.3
|
|
Investment ( % )
|
7.1
|
1.5
|
<17.2>
|
15.2
|
10.2
|
|
Public Expenditure ( % )
|
10.1
|
6.5
|
5.2
|
3.8
|
2.8
|
|
Consumption ( % )
|
10.8
|
11.6
|
3.1
|
0.2
|
4.6
|
|
Investment ( % )
|
9.3
|
0.7
|
8.0
|
8.3
|
0.6
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
100,340
|
129,563
|
89,650
|
118,356
|
116,058
|
|
Government Finance ( MYR Million )
|
<19,948>
|
<34,462>
|
<28,450>
|
<40,482>
|
-
|
|
Government Finance to GDP / Fiscal Deficit ( % )
|
<3.2>
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
|
|
Inflation ( % Change in Composite CPI)
|
2.0
|
<3.3>
|
<5.2>
|
5.1
|
-
|
|
Unemployment Rate
|
3.2
|
3.7
|
4.5
|
3.9
|
-
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion )
|
336
|
388
|
331
|
394
|
-
|
|
Average Risk-Weighted Capital Adequacy Ratio ( % )
|
3.04
|
1.91
|
2.87
|
2.20
|
-
|
|
Average 3 Months of Non-performing Loans ( % )
|
13.30
|
13.24
|
11.08
|
15.30
|
-
|
|
Average Base Lending Rate ( % )
|
6.72
|
6.72
|
5.53
|
5.70
|
-
|
|
Business Loans Disbursed( % )
|
9.1
|
11.6
|
10.5
|
14.7
|
-
|
|
Foreign Investment ( MYR Million )
|
33,426.0
|
23,261.4
|
22,156.8
|
22,517.9
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
43,337
|
41,599
|
41,578
|
-
|
-
|
|
Registration of New Companies ( % )
|
13.2
|
<4.0>
|
<0.1>
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
22,629
|
27,992
|
39,075
|
-
|
-
|
|
Liquidation of Companies ( % )
|
161.5
|
23.7
|
39.6
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
227,410
|
269,866
|
312,581
|
-
|
-
|
|
Registration of New Business ( % )
|
-
|
-
|
-
|
-
|
-
|
|
Business Dissolved ( No. )
|
20,431
|
18,885
|
19,345
|
-
|
-
|
|
Business Dissolved ( % )
|
<61.4>
|
<7.6>
|
2.4
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
442.9
|
497.5
|
319.4
|
369.7
|
-
|
|
Cellular Phone Subscribers ( Million )
|
23.3
|
25.1
|
30.1
|
32.8
|
-
|
|
Tourist Arrival ( Million Persons )
|
20.9
|
21.5
|
23.6
|
24.0
|
25.0
|
|
Hotel Occupancy Rate ( % )
|
70
|
68
|
58
|
63
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
20.1
|
17.1
|
12.8
|
15.1
|
-
|
|
Bad Cheque Offenders (No.)
|
30,004
|
34,834
|
-
|
-
|
-
|
|
Individual Bankruptcy ( No.)
|
13,238
|
13,907
|
-
|
-
|
-
|
|
Individual Bankruptcy ( % )
|
<2.6>
|
5.1
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2007
|
2008
|
2009
|
2010*
|
2011**
|
|
|
|
|
|
|
|
|
Agriculture
|
3.1
|
3.6
|
0.4
|
3.4
|
4.5
|
|
Palm Oil
|
<0.6>
|
7.0
|
<1.1>
|
1.3
|
-
|
|
Rubber
|
1.0
|
<1.1>
|
<19.8>
|
9.9
|
-
|
|
Forestry & Logging
|
2.8
|
<1.5>
|
<5.9>
|
<1.3>
|
-
|
|
Fishing
|
5.2
|
4.0
|
5.5
|
4.1
|
-
|
|
Other Agriculture
|
7.0
|
5.9
|
9.0
|
6.6
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
487.3
|
393.0
|
413.7
|
508.4
|
-
|
|
% of Industry Non-Performing Loans
|
1.1
|
<2.0>
|
1.3
|
2.1
|
-
|
|
|
|
|
|
|
|
|
Mining
|
3.3
|
<0.8>
|
<3.8>
|
1.0
|
2.9
|
|
Oil & Gas
|
2.2
|
12.7
|
2.1
|
4.9
|
-
|
|
Other Mining
|
-
|
-
|
-
|
-
|
-
|
|
Industry Non-performing Loans ( MYR Million )
|
42.2
|
36.0
|
44.2
|
49.7
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
3.1
|
1.3
|
<9.4>
|
10.8
|
6.7
|
|
Exported-oriented Industries
|
<1.9>
|
2.7
|
<19.0>
|
12.1
|
-
|
|
Electrical & Electronics
|
3.0
|
2.4
|
<30.3>
|
27.4
|
-
|
|
Rubber Products
|
8.0
|
4.2
|
<10.1>
|
25.3
|
-
|
|
Wood Products
|
3.3
|
<6.0>
|
<24.1>
|
19.7
|
-
|
|
Textiles & Apparel
|
<10.1>
|
1.9
|
<19.5>
|
<1.3>
|
-
|
|
Domestic-oriented Industries
|
5.3
|
9.9
|
<9.8>
|
16.3
|
-
|
|
Food, Beverages & Tobacco
|
5.6
|
9.5
|
0.2
|
3.0
|
-
|
|
Chemical & Chemical Products
|
9.2
|
1.4
|
<7.7>
|
20.4
|
-
|
|
Plastic Products
|
<3.6>
|
6.5
|
<9.1>
|
2.4
|
-
|
|
Iron & Steel
|
17.5
|
16.8
|
<32.7>
|
30.0
|
-
|
|
Fabricated Metal Products
|
26.2
|
14.7
|
<2.5>
|
14.9
|
-
|
|
Non-metallic Mineral
|
6.6
|
8.3
|
<15.5>
|
20.2
|
-
|
|
Transport Equipment
|
<19.0>
|
27.1
|
<13.5>
|
36.5
|
-
|
|
Paper & Paper Products
|
14.9
|
8.6
|
<5.0>
|
20.5
|
-
|
|
Crude Oil Refineries
|
8.6
|
7.8
|
0.2
|
<11.4>
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
6,366.2
|
5,729.4
|
6,007.3
|
6,217.5
|
-
|
|
% of Industry Non-Performing Loans
|
14.1
|
16.8
|
18.3
|
23.8
|
-
|
|
|
|
|
|
|
|
|
Construction
|
4.6
|
2.1
|
5.8
|
4.9
|
4.4
|
|
Industry Non-Performing Loans ( MYR Million )
|
5,116.7
|
4,149.8
|
3,241.8
|
4,038.5
|
-
|
|
% of Industry Non-Performing Loans
|
11.3
|
12.2
|
9.9
|
10.7
|
-
|
|
|
|
|
|
|
|
|
Services
|
9.7
|
7.3
|
2.6
|
6.5
|
5.3
|
|
Electric, Gas & Water
|
4.6
|
5.0
|
0.4
|
8.5
|
5.6
|
|
Transport, Storage & Communication
|
7.60
|
7.80
|
1.60
|
7.15
|
7.55
|
|
Wholesale, Retail, Hotel & Restaurant
|
11.6
|
10.0
|
2.8
|
4.7
|
5.2
|
|
Finance, Insurance & Real Estate
|
10.7
|
9.2
|
3.8
|
6.0
|
5.2
|
|
Government Services
|
4.6
|
8.6
|
2.0
|
6.7
|
1.9
|
|
Other Services
|
5.0
|
5.9
|
4.4
|
4.2
|
5.4
|
|
Industry Non-Performing Loans ( MYR Million )
|
10,207.8
|
8,281.4
|
6,631.3
|
7,384.6
|
-
|
|
% of Industry Non-Performing Loans
|
22.6
|
24.3
|
20.2
|
25.7
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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
|
|
Rising inflationary pressure and volatile financial markets have prompted
some companies to forecast conservative earnings as they brace for a
potential slowdown in consumer spending this year. Companies cautious about
their earnings outlook are mainly those in the food and beverage industry.
Most of them import their raw materials, including milk and wheat, where
the prices have surged in recent months.
|
|
While contending with margin squeeze, the companies would not want to pass
on most of the costs yet on concerns the higher prices would affect
consumer spending. For the moment, the outlook for consumer spending might
not be as bright but the domestic economy is still strong.
|
|
The food and beverages industry has always been one of the more resilient
industries in an economic downturn. For the period of January - May 2009,
the industry achieved exports of RM4.41 billion, slightly lower than RM4.42
billion attained in the same period in 2008. The Government is dealing with
issues like inflation to improve consumer sentiment. High commodity prices
would boost the country's gross domestic product growth and consumer
spending would stay resilient, given rising household income for farmers,
civil servants and private sector employees.
|
|
An increase in the annual subsidy assistance for padi farmers to boost
production levels and encourage more people to plant the crop so as to
increase the State's food supply. The government believes the increase in the
subsidy assistance will directly increase the level of income and
well-being of the farmers in the State. This would be in line with the Malaysia
policy of People First, Performance Now. The move is also in line with the
government objective to increase the State's self-sufficiency in padi and
rice production to 60 per cent by the year 2010.
|
|
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.
|
|
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 & RECOMMENDATION
|
Incorporated in 2005 as a private limited company, the SC is principally
engaged in the supplying of food products. Throughout its years of
establishment, the SC has slowly been building up contacts with its clients
and competing in the industry. The capital standing of the SC is fair. With
an adequate share capital of RM1 million, the SC has the potential of
expanding its business in future.
|
|
The SC's business operations are predominantly in Malaysia.
As such, any adverse developments in the economic environment and
uncertainties in Malaysia
could materially and adversely affect the business prospects of the SC. Its
business risk is high compared to the export oriented company. The SC can
be recognised as a small entity with a work force of 10 employees in the
operations. Its management capability is considered average.
|
|
No latest financial accounts were filed during our inspection. The SC's
latest financial accounts are up to 2007, which is outdated in our opinion.
Therefore, our comment on the SC's overall financial performance is
restricted thereto.
|
|
The SC sources its raw materials locally and internationally. Being
involved in import and export activities, the SC is subjected to the
foreign currency exchange risk.
|
|
The industry shows an upward trend and this trend is very likely to sustain
in the future. However, we are of the opinion that there are a large number
of other companies in the same industry. In another word, we believe that
the SC faces stiff competitions from other local players.
|
|
In view of the above, we recommend credit be proceeded to the SC with
guarantee.
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA
ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
FURSAN FOOD INDUSTRY SDN BHD
|
|
31-December-2007
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
590,971.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
25,745.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
24,050.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
24,050.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
8,158.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
32,208.00
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
FURSAN FOOD INDUSTRY SDN BHD
|
|
31-December-2007
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
87,200.00
|
|
Total Investment
|
0.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
498,243.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
585,443.00
|
|
|
================
|
|
|
|
|
Working Capital
|
445,008.00
|
|
|
|
|
Issued Capital
|
500,000.00
|
|
Paid Up Capital
|
500,000.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
32,208.00
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
532,208.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
53,235.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
0.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
585,443.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
|
|
|
