|
* Adopted abbreviations : SC
- Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION
NO.
|
:
|
400717-D
|
|
COMPANY NAME
|
:
|
MUADAMZAM OTO
(M) SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
03/09/1996
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED
ADDRESS
|
:
|
SUITE 1.00A,
WISMA YAKIN, JALAN MASJID INDIA, 6TH FLOOR, 50100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS
ADDRESS
|
:
|
25, JALAN
3/18D, TAMAN MAS TIARA, 5TH MILES, OFF JALAN IPOH, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-62501875 /
1876
|
|
FAX.NO.
|
:
|
03-62501854
|
|
CONTACT PERSON
|
:
|
AHMAD HAIDIR
MOHD YUSOF ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
5030
|
|
PRINCIPAL
ACTIVITY
|
:
|
DEALERS IN
AUTO SPARE PARTS, MECHANICAL & AUTO ENGINEERING WORKS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARES 100,000 CASH AND 400,000 OTHERWISE OF MYR 1.00 EACH.
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
BANKER (S)
|
|
AFFIN BANK
BERHAD
PUBLIC BANK BHD
|
|
LITIGATION
|
:
|
TRACED
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD1,000.00
|
HISTORY / BACKGROUND
The SC is an exempt private company which
is allowed to have a minimum of two and a maximum of twenty shareholders and
all the shareholders must be individuals. An exempt company is a type of
private limited company. 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, suing or be sued by other companies.
The SC is governed by the Companies Act, 1965 and must file in its annual
return. The SC need not file in its financial statements but it has to file
in a document duly signed by its director in charge of its finance, the
secretary and its auditor stating that the SC is able to meet all its
obligations as and when they fall due. Although the SC is not required to
file in its financial statements, it also has to prepare its financial
account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a / as an) dealers in auto spare
parts, mechanical & auto engineering works.
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. AHMAD HAIDIR BIN MOHD YUSOF +
|
17, JALAN MARMAR 3, TAMAN MELEWAR, GOMBAK, 68100 BATU CAVES,
SELANGOR, MALAYSIA.
|
461017-08-5621
1040423
|
300,000.00
|
|
MR. MAT ADZAM BIN SAAD +
|
17, JALAN E3/13, TAMAN EHSAN, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
570507-02-6213
5179912
|
200,000.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. MAT ADZAM BIN SAAD
|
|
Address
|
:
|
17, JALAN E3/13, TAMAN EHSAN, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
5179912
|
|
New IC No
|
:
|
570507-02-6213
|
|
Date of Birth
|
:
|
07/05/1957
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
22/07/2002
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. AHMAD HAIDIR BIN MOHD YUSOF
|
|
Address
|
:
|
17, JALAN MARMAR 3, TAMAN MELEWAR, GOMBAK, 68100 BATU CAVES,
SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
1040423
|
|
New IC No
|
:
|
461017-08-5621
|
|
Date of Birth
|
:
|
17/10/1946
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
19/03/2003
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
AHMAD HAIDIR MOHD YUSOF
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
HAARYPANICKER
|
|
Auditor' Address
|
:
|
SUITE 1.00, WISMA YAKIN, JLN MASJID INDIA, 6TH FLR, 50100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. MANOHUR A/L K KUMARAN
|
|
|
IC / PP No
|
:
|
5857769
|
|
|
New IC No
|
:
|
600424-01-5847
|
|
|
Address
|
:
|
12, JALAN 31/74A, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
AFFIN BANK BERHAD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
PUBLIC BANK 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
|
:
|
15/12/2003
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM800,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
PUBLIC BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 1 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
14/02/2004
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM23,810.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
PUBLIC BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 2 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
01/03/2004
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM625,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
PUBLIC BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 3 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
14/12/2004
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
AFFIN BANK BERHAD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 4 In The Register of Charges
|
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank against the SC whether the
subject has been involved in any litigation.
|
LEGAL ACTION
|
|
|
|
|
|
Code No
|
:
|
72
|
Case No
|
:
|
35435
|
|
|
|
|
|
|
Year
|
:
|
2006
|
Place
|
:
|
KUALA LUMPUR
|
|
|
|
|
|
|
Court
|
:
|
MAGISTRATE COURT
|
|
|
|
|
|
|
|
|
|
Solicitor
|
:
|
LIM & YEOH
|
|
|
|
|
|
|
|
|
|
Plaintiff
|
:
|
SERI AMPANGAN REALTY SDN BHD
|
|
|
|
|
Defendants
|
:
|
|
MUADAMZAM OTO M SDN BHD (400717)
|
|
25 JLN 3/18D, TMN MASTIARA, BT 5, OFF JLN IPOH, 51200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
Amount Claimed
|
:
|
2,120.46
|
|
|
|
|
|
|
|
|
|
Nature of Claim
|
:
|
GDS SOLD & DELIVERED
|
|
|
|
|
|
|
|
|
|
Remark
|
:
|
LIST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE:
|
Please check with creditors for confirmation as alleged debts may
have been paid since recorded or are being disputed. The person wo has been
sued has the same name as the subject. However, we are unable to determine
whether the person sued is the one and the same person.
|
|
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
|
:
|
40%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
60%
|
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
OPERATIONS
|
Goods Traded
|
:
|
SPARE PARTS FOR SPECIAL PURPOSE VEHICLE
|
|
|
|
|
|
Services
|
:
|
ENGINEERING WORKS
|
|
|
|
|
|
Competitor(s)
|
:
|
BERMAZ MOTOR
SDN BHD
LENZE S.E.A. SDN BHD
PROTON PARTS CENTRE SDN BHD
VOLVO MALAYSIA SDN BHD
W.T.K. ENTERPRISES SDN BHD
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) dealers in auto spare
parts, mechanical & auto engineering works.
The SC offer an extensive line of heavy-duty automatic transmissions, new,
remanufactured and rebuilt for trucks, buses and special purpose vehicle
(SPV).
The SC range includes all electronically and hydraulically controlled models,
such as the Allison World Series, Allison HT, MT and AT Series, ZF and
Chrysler.
The SC also rebuilt and remanufactured automatic transmissions are bench
tested for smoothness of operation, internal and external leakage, torque
output, relief system and flow setting.
All the SC rebuilt and remanufactured units are 100% inspected and any parts
that show wear are replaced if they do not meet critical tolerances.
PROJECTS
No projects found in our databank
RECENT DEVELOPMENT
We have checked with the Malaysian National News Agency's (BERNAMA)database,
but no latest development was noted in our investigation.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
603 625 24794
|
|
Current Telephone Number
|
:
|
03-62501875 / 1876
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO. 25, JALAN 3/18D TAMAN MASTIARA 5TH MILE OFF JALAN IPOH KUALA
LUMPUR 51200
|
|
Current Address
|
:
|
25, JALAN 3/18D, TAMAN MAS TIARA, 5TH MILES, OFF JALAN IPOH, 51200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the SC staff and
she provided some information regarding to the SC.
However she refuse to provide SC's number of employee.
FINANCIAL COMMENTS
The SC is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for the
information of the public. Therefore, we are not able to comment on the SC's
financial performance.
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
|
|
5030 : Sale of motor vehicle parts and accessories
|
|
|
|
|
INDUSTRY :
|
MOTOR VECHICLE
|
|
|
|
|
|
|
Local sales of new vehicles in March 2011 surged 56.6 per cent, or 22,878
units, to an all-time high of 63,265 units over the February figure.
|
|
According to the Malaysian Automotive Association (MAA), the figure was
12.7 per cent more than March 2010. However, the sales volume for April
2011 would moderate and was expected to be lower than March.
|
|
The strong sales seen in March 2011 was unusual and the adjustments of
production from the impact of the catastrophe in Japan might start to
affect supply. The sales volume for the first three months of the year 2011
increased by 7.5 per cent over the same period of year 2010.
|
|
The longer working month in March and rush for deliveries or invoicing by
companies having financial year ending on March 31 caused the higher sales
growth. Beside that, fear and anticipation of a possible short supply and
higher prices of motor vehicles caused by the catastrophe in Japan could
have also resulted in consumers buying forward.
|
|
The vehicle production in March 2011 increased to 53,124 units from the
51,579 units registered in March 2010. The passenger vehicle production in
March 2011 moved up to 49,118 units from the 47,729 units seen in the same
period of 2010 while commercial vehicle production increased to 4,006 units
from 3,850 units.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth
|
COMMENTS & RECOMMENDATION
|
Incorporated in 1996 as an exempt private company, the SC is
principally engaged in the dealing in auto spare parts, mechanical and auto
engineering works. Having been in the industry for over a decade, the SC
should have built up its reputation and image in the market. The SC is
considered as a medium size company with issued and paid up capital
standing at RM500,000.
|
|
Investigation revealed that the SC mainly supplies to the local market.
This narrow market segment limits its business expansion opportunities and
lowers the growth prospects. As such, its business risk is high compared to
export oriented companies. However, the SC offer the various machineary and
services for heavy-duty automatic transmissions, trucks, buses and special
purpose vehicle (SPV). This will eliminates the risk of dependency on one
business line. Overall, the management capability of the SC is average.
|
|
As the SC is registered as a Exempt Private company, it is not required to
file financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
The SC might be exposed to the forex risk as some of its raw materials are
sourced from overseas suppliers. With its long presence in the market, it
should have developed a strong supplier. Thus, it eliminates the risk of
dependency on deliveries from a number of key suppliers and insufficient
quantities of its raw materials.
|
|
Based on our databank, the SC is clear of any litigation action
|
|
The motor vechile industry has reached its optimum level and is generally
stable. The potential growth for the industry is marginal and it is quite
competitive. It very much depends on the SC's capacity in sustaining its
performance in the market.
|
|
In view of the above, we only recommend a small amount of credit be
proceeded to the SC with guarantee.
|
|
|
|
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