* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
78112-V
|
|
COMPANY NAME
|
:
|
FARLAND MARKETING SDN BHD
|
|
FORMER NAME
|
:
|
FAR LAND
MARKETING SDN BHD (07/09/1999)
FAR LAND REALTY SDN BHD (31/05/1985)
|
|
INCORPORATION DATE
|
:
|
17/11/1981
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
LOT 6, BLOCK E, DONGGONGON NEW TOWNSHIP, PHASE 2, WDT 623,
PENAMPANG, 88906 KOTA KINABALU, SABAH, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
JLN LABUK BATU 9 1/2,, 90000 SANDAKAN, SABAH, MALAYSIA.
|
|
TEL.NO.
|
:
|
089-671777
|
|
FAX.NO.
|
:
|
089-669933
|
|
CONTACT PERSON
|
:
|
LEE SU VEE ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51491
|
|
PRINCIPAL ACTIVITY
|
:
|
RETAILING OF AGRICULTURAL CHEMICALS & FERTILIZERS
|
|
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 500,000.00
DIVIDED INTO
ORDINARY SHARES 500,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 13,739,110 [2008]
|
|
NET WORTH
|
:
|
MYR 1,538,982 [2008]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
STRONG GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD1,316
|
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) retailing of agricultural
chemicals & fertilizers.
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. LIEW HENG SANG +
|
LOT 1, HOUSE 8, LORONG HILLTOP, TAMAN HILLTOP, JALAN LINTAS, 88300
KOTA KINABALU, SABAH, MALAYSIA.
|
730305-10-5589
A2403731
|
440,000.00
|
|
MS. LEE SU VEE +
|
LOT 1, HOUSE 8, LORONG HILLTOP, TAMAN HILLTOP, JALAN LINTAS, 88300
KOTA KINABALU, SABAH, MALAYSIA.
|
700312-12-5310
H0736866
|
60,000.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. LEE SU VEE
|
|
Address
|
:
|
LOT 1, HOUSE 8, LORONG HILLTOP, TAMAN HILLTOP, JALAN LINTAS, 88300
KOTA KINABALU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
H0736866
|
|
New IC No
|
:
|
700312-12-5310
|
|
Date of Birth
|
:
|
12/03/1970
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. LIEW HENG SANG
|
|
Address
|
:
|
LOT 1, HOUSE 8, LORONG HILLTOP, TAMAN HILLTOP, JALAN LINTAS, 88300
KOTA KINABALU, SABAH, MALAYSIA.
|
|
IC / PP No
|
:
|
A2403731
|
|
New IC No
|
:
|
730305-10-5589
|
|
Date of Birth
|
:
|
05/03/1973
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LEE SU VEE
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
TAN & ASSOCIATES
|
|
Auditor' Address
|
:
|
9-2, BLOCK B, DAMAI COMMERCIAL CENTRE, PHASE IV, JALAN DAMAI, 2ND
FLOOR, 88000 KOTA KINABALU, SABAH, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. FONG THAU VUI
|
|
|
IC / PP No
|
:
|
H0002295
|
|
|
New IC No
|
:
|
680723-12-5213
|
|
|
Address
|
:
|
27, TAMAN JINDO, LORONG PALAS 5A, PHASE 5, LUYANG, 88300 KOTA
KINABALU, SABAH, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
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
|
Percentage
|
:
|
60%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
40%
|
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
AGRICULTURAL CHEMICALS & FERTILIZERS
|
|
|
|
|
|
Competitor(s)
|
:
|
AGROMATE (M)
SDN BHD
AGROMATE HOLDINGS SDN BHD
BEHN MEYER & CO (M) SDN BHD
HAP SENG FERTILIZERS SDN BHD
HARRISONS TRADING (PENINSULAR) SDN BHD
|
|
|
|
|
|
Ownership of
premises
|
:
|
LEASED/RENTED
|
Other Information:
The SC is principally engaged in the (as a / as an) retailing of agricultural
chemicals & fertilizers.
The SC is doing the trading of agriculture product such as fertilizer and
other chemical product.
The SC also working in advertising, advertising agencies business activities
that contribute to the agriculture activities.
The SC sells the products according to its customers' orders.
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
|
:
|
089-671777
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 6, BLOCK F, DONGGONGON NEW TOWNSHIP PHASE 2, PENANPANG WDT 623
88906 KOTA KINABALU SABAH
|
|
Current Address
|
:
|
JLN LABUK BATU 9 1/2,, 90000 SANDAKAN, SABAH, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
The address provided belongs to the SC's registered office.
FINANCIAL COMMENTS
The SC's latest
financial accounts are up to 2008 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
|
|
51491 : Wholesale of fertilizers
|
|
|
|
|
INDUSTRY :
|
CHEMICAL
|
|
|
|
|
|
|
The chemicals industry is one of Malaysia's key industries, catering not
only for its own national requirements but also exporting to a number of countries
worldwide. The Malaysian chemicals and chemical products industry has
become the second largest contributor to the manufactured exports sector,
after the electrical and electronics industry.
|
|
The chemicals industry is important in Malaysia on account of the nation's
substantial oil and gas feedstock. The Chemicals Industries Council of
Malaysia (CICM) was established in 1978 as an industry group under the
aegis of the Federation of Malaysian Manufacturers, to focus on the
development of the chemicals industry. The primary objective of the CICM
was to organise the chemicals industry in Malaysia into a cohesive group to
represent Malaysia's interest at the ASEAN Chemicals Industries Club
(ACIC).
|
|
The Malaysian chemicals industry witnessed 37% growth in domestic sales
value in 2004 and sustained solid growth up until mid-2008. It expanded
rapidly and had been forecast to reach sales figures of MYR60,816mn by
2009.
|
|
Malaysia's balance of trade for the year January to December 2008 was MYR114,883mn.
In the first five months of 2008, total trade was 11.2% up on the same
period last year. These impressive figures were short-lived however, with
significant decreases observed in the latter half of 2008 and early 2009,
due to the impact of global economic crisis. The Industrial Production
Index (IPI) in January 2009 was 20.2 % lower than it was in January 2008,
following a sharp decline of 15.9% in December 2008.
|
|
The biggest drop was witnessed by chemicals and chemical products, which
saw output contract by 29.9%. This is partly because the chemicals industry
tends to be more sensitive to the economic cycle and so fares
disproportionately badly in recessions.
|
|
Total exports are down from MYR100,115mn (US$27,858.48mn) in
January-February 2008 to MYR77,856mn (US$21,662mn) in the same period of
2009. Similarly, there has been a fall in imports, with total incoming
sales falling from MYR81,289mn (US$22,617mn) in January-February 2008 to
MYR57,778mn (US$16,705mn) in January-February 2009.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth
|
COMMENTS & RECOMMENDATION
|
Established in 1981, the SC is a private limited company with core business
in the retailing of agricultural chemicals and fertilizers. With experiences
for about 30 years in the industry, the SC's operation has been running
relatively stable since it has built up a relatively sound and stable
clientele base which has contributed to its business growth. The SC is
considered as a medium size company with issued and paid up capital
standing at RM500,000. Under the control of its directors, we considered
that the SC's business position is much dependent on their efforts.
|
|
Information revealed that the SC solely focuses on domestic market rather than
overseas market. We believe that this narrow market segment would limit the
SC's business opportunities and the SC is likely to be affected by the
uncertainties in local economy. However, its long presence in the market
has enabled the SC to gain certain market shares and established good
rapport with its clients. Thus, its business risk is diversified. The SC's
overall management capability is considered as average.
|
|
No latest financial accounts were filed during our inspection. The SC's
latest financial accounts are up to 2008, which is outdated in our opinion.
Therefore, our comment on the SC's overall financial performance is
restricted thereto.
|
|
To reduce the risk of component shortages, the SC sources its raw materials
locally and imported from overseas countries. Thus, it is subjected to the
currency fluctuation risk.
|
|
Based on our databank, the SC is clear of any litigation action
|
|
The chemical industry remains robust with continuing strong local demand, especially
for the agricultural products that related to rubber and plam oil. As the
palm oil and rubber continues to be an important source of export earnings
for Malaysia as well as a vital raw material for the manufacturing
industries. Thus, the SC business potential should be favourable.
|
|
In view of the above, 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.
|
|
FARLAND
MARKETING SDN BHD
|
|
For The Year
Ended 30-June-2008
|
|
|
2008
|
2007
|
|
|
MYR
|
MYR
|
|
TURNOVER
|
13,739,110
|
8,144,417
|
|
|
==========
|
==========
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
365,961
|
276,151
|
|
|
|
|
|
|
------------
|
------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
365,961
|
276,151
|
|
Taxation
|
<84,266>
|
<79,818>
|
|
PROFIT/(LOSS) AFTER TAXATION
|
------------
281,695
|
------------
196,333
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
------------
281,695
|
------------
196,333
|
|
|
|
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD
|
------------
281,695
|
------------
196,333
|
|
As previous reported
|
1,157,287
|
1,230,954
|
|
|
|
|
|
As restated
|
------------
1,157,287
|
------------
1,230,954
|
|
|
------------
|
------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
1,438,982
|
1,427,287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVIDENDS - Ordinary (paid & proposed)
|
<400,000>
|
<270,000>
|
|
|
|
|
|
|
|
|
|
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD
|
------------
1,038,982
==========
|
------------
1,157,287
==========
|
|
RETAINED BY: The Company
|
1,038,982
|
1,157,287
|
|
|
|
|
|
|
|
|
|
|
------------
1,038,982
==========
|
------------
1,157,287
==========
|
|
|
|
|
BALANCE SHEET
|
FARLAND
MARKETING SDN BHD
|
|
As At 30-June-2008
|
|
|
|
|
|
|
2008
|
2007
|
|
|
MYR
|
MYR
|
|
|
|
|
|
|
ASSET EMPLOYED:
|
|
|
|
FIXED ASSETS
|
451,212
|
578,932
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LONG TERM ASSETS
|
------------
451,212
|
------------
578,932
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stocks
|
968,716
|
1,040,300
|
|
|
|
|
|
|
|
Trade debtors
|
7,961,154
|
3,755,697
|
|
|
Other debtors, deposits & prepayments
|
22,321
|
51,160
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash & bank balances
|
163,739
|
111,004
|
|
|
|
|
|
|
|
Tax prepaid
|
9,521
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS
|
------------
9,125,451
|
------------
4,958,161
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
Trade creditors
|
5,133,527
|
2,379,088
|
|
|
Other creditors & accruals
|
214,122
|
718,076
|
|
|
Hire purchase & lease creditors
|
-
|
53,125
|
|
|
Bank overdraft
|
223,759
|
124,532
|
|
|
Short term borrowings/Term loans
|
221,206
|
143,744
|
|
|
Other borrowings
|
924,490
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owing to director
|
1,026,695
|
291,378
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
------------
7,743,799
|
------------
3,709,943
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
------------
1,381,652
|
------------
1,248,218
|
|
TOTAL NET ASSETS
|
------------
1,832,864
==========
|
------------
1,827,150
==========
|
|
|
|
|
|
|
FINANCED BY:
|
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
Ordinary share capital
|
500,000
|
500,000
|
|
|
|
|
|
|
TOTAL SHARE CAPITAL
|
------------
500,000
|
------------
500,000
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retain profit/(Accumulated loss) carried forward
|
1,038,982
|
1,157,287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL RESERVES
|
------------
1,038,982
|
------------
1,157,287
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
------------
1,538,982
|
------------
1,657,287
|
|
|
|
|
|
|
|
|
|
|
|
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
|
|
|
Long term loans
|
290,982
|
156,256
|
|
|
|
|
|
|
|
|
|
|
|
|
Hire purchase creditors
|
-
|
7,277
|
|
|
Deferred taxation
|
2,900
|
6,330
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
------------
293,882
|
------------
169,863
|
|
|
------------
|
------------
|
|
|
1,832,864
|
1,827,150
|
|
|
==========
|
==========
|
|
|
|
|
|
FINANCIAL RATIOS
|
FARLAND
MARKETING SDN BHD
|
|
As At
30-June-2008
|
|
|
|
|
|
|
2008
|
2007
|
|
|
MYR
|
MYR
|
|
TYPES OF FUNDS
|
|
|
|
|
Cash
|
163,739
|
111,004
|
|
|
Net Liquid Funds
|
<281,226>
|
<157,272>
|
|
|
Net Liquid Assets
|
412,936
|
207,918
|
|
|
Net Current Assets/(Liabilities)
|
1,381,652
|
1,248,218
|
|
|
Net Tangible Assets
|
1,832,864
|
1,827,150
|
|
|
Net Monetary Assets
|
119,054
|
38,055
|
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
Total Borrowings
|
1,660,437
|
484,934
|
|
|
Total Liabilities
|
8,037,681
|
3,879,806
|
|
|
Total Assets
|
9,576,663
|
5,537,093
|
|
|
Net Assets
|
1,832,864
|
1,827,150
|
|
|
Net Assets Backing
|
1,538,982
|
1,657,287
|
|
|
Shareholders" Funds
|
1,538,982
|
1,657,287
|
|
|
Total Share Capital
|
500,000
|
500,000
|
|
|
Total Reserves
|
1,038,982
|
1,157,287
|
|
|
|
|
|
|
LIQUIDITY(Times)
|
|
|
|
|
Cash Ratio
|
0.02
|
0.03
|
|
|
Liquid Ratio
|
1.05
|
1.06
|
|
|
Current Ratio
|
1.18
|
1.34
|
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
Stock Ratio
|
26
|
47
|
|
|
Debtors Ratio
|
211
|
168
|
|
|
Creditors Ratio
|
136
|
107
|
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
Gearing Ratio
|
1.08
|
0.29
|
|
|
Liabilities Ratio
|
5.22
|
2.34
|
|
|
Times Interest Earned Ratio
|
0
|
0
|
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
Operating Profit Margin
|
2.66
|
3.39
|
|
|
Net Profit Margin
|
2.05
|
2.41
|
|
|
Return On Net Assets
|
19.97
|
15.11
|
|
|
Return On Capital Employed
|
16.07
|
12.85
|
|
|
Return On Shareholders' Funds/Equity
|
18.30
|
11.85
|
|
|
Dividend Pay Out Ratio (Times)
|
1.42
|
1.38
|
|
|
|
|
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
Contingent Liabilities
|
0.00
|
0.00
|
|
|
|
|
|
|
|
|
