|
* Adopted abbreviations : SC -
Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
776158-M
|
|
COMPANY NAME
|
:
|
DHEDHI PAK SDN BHD
|
|
FORMER NAME
|
:
|
ORION FACTOR SDN BHD (23/05/2011)
|
|
INCORPORATION DATE
|
:
|
06/06/2007
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
703, SEMUA HOUSE, 6, JALAN BUNUS, LEVEL 7, 50100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
N/A
|
|
TEL.NO.
|
:
|
N/A
|
|
FAX.NO.
|
:
|
N/A
|
|
CONTACT PERSON
|
:
|
N/A
|
|
INDUSTRY CODE
|
:
|
45
|
|
PRINCIPAL ACTIVITY
|
:
|
BUILDERS AND
CONTRACTORS AND MANUFACTURERS OF LEATHER PRODUCTS AND GARMENTS AND
MERCHANTS
|
|
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 4 CASH AND 999,996 OTHERWISE OF MYR 1.00 EACH.
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
N/A
|
|
COMMERCIAL RISK
|
:
|
N/A
|
|
CURRENCY EXPOSURE
|
:
|
N/A
|
|
GENERAL REPUTATION
|
:
|
N/A
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
NIL
|
|
|
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) builders and
contractors and manufacturers of leather products and garments and merchants.
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
|
|
NAVEED
|
|
AM9679062
|
399,999.00
|
|
MR.MOHAMED NASIR BIN MOHAMED ZAHIR
|
|
570317-02-5703
5122492
|
299,999.00
|
|
MR. MUHAMMAD FAROOQ DHEDHI +
|
16B3, PELANGI INDAH CONDOMINIUM, 4 1/2 MILES, JALAN IPOH, 51000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
AA7171453
|
150,000.00
|
|
NASIR
|
|
AD9828451
|
149,999.00
|
|
MS.SITI RABIAH BINTI AB MAJID
|
|
840104-14-5272
|
1.00
|
|
MR.HUSSAIN BAKHSH AWAN S/O NOOR AHMED AWAN
|
|
KD266909
|
1.00
|
|
HASEEB-UL-MAQSOOD AWAN
|
|
AC1604701
|
1.00
|
|
|
|
|
---------------
|
|
|
|
|
1,000,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. NURMAINA BINTI SHAMSUDIN
|
|
Address
|
:
|
14, JALAN AU5C/7C, LEMBAH KERAMAT, ULU KELANG, 54200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
4734207
|
|
New IC No
|
:
|
541224-05-5484
|
|
Date of Birth
|
:
|
24/12/1954
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
21/04/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. MUHAMMAD KASHIF PASHA
|
|
Address
|
:
|
16B3, PELANGI INDAH CONDOMINIUM, 4 1/2 MILES, JALAN IPOH, 51000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
AB3846992
|
|
Date of Appointment
|
:
|
07/07/2011
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. MUHAMMAD FAROOQ DHEDHI
|
|
Address
|
:
|
16B3, PELANGI INDAH CONDOMINIUM, 4 1/2 MILES, JALAN IPOH, 51000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
AA7171453
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
06/06/2007
|
MANAGEMENT
No data found in our databank.
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. SHARON ANN FERNANDEZ
|
|
|
IC / PP No
|
:
|
A0678311
|
|
|
New IC No
|
:
|
670317-10-6050
|
|
|
Address
|
:
|
27, JALAN AUR KS 4, TAMAN AUR, 42000 PELABUHAN KLANG, SELANGOR,
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 against 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
No payment record found in our databank.
CLIENTELE
No data found in our databank.
OPERATIONS
Other Information:
The SC is principally engaged in the (as a / as an) builders and contractors
and manufacturers of leather products and garments and merchants.
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
|
:
|
N/A
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LG WILLAYAH COMPLEX, JALAN MUNSHI ABDULLAH KUALA LUMPUR
|
|
Current Address
|
:
|
N/A
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
There is no financial accounts that has been submitted to the Registry
Office.
|
Other Investigations
We were unable to contact the SC and its Directors as they are not registered
with the Telekom Directory service provider in Malaysia.
We also unable to contact the SC's Company Secretary.
We also unable to contact the SC based on the address provided at LG WILLAYAH
COMPLEX, JALAN MUNSHI ABDULLAH KUALA LUMPUR as it is an incomplete address.
FINANCIAL COMMENTS
No latest
financial accounts are available at the Registry Office, thus 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)
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INDUSTRY COMMENTS
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MSIC CODE
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45 : Construction
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INDUSTRY :
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CONSTRUCTION
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Real construction growth for 2011 has been projected at 4%. It re-rated
valuations upwards for the construction sector fuelled by the possibility
of an early general election, implementation of the proposed projects under
the Economic Transformation Programme and Budget 2011. However, some
concern on several issues such as the speed of execution and implementation
of contracts, the increase in raw material costs, further appreciation of
the ringgit as well as oil prices, which may erode profit margins.
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The construction sector was more bullish than last year, especially with
the anticipated roll-out of many sizeable government contracts such as the
RM36bil Kuala Lumpur Mass Rapid Transit (MRT) for the greater KL region and
the RM5bil Warisan Merdeka development, there was a need to monitor cost.
Along with the euphoria of more contracts and larger order books,
developers and contractors should also be cautious about cost overruns.
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Developers and contractors may be able to replenish their order books this
year but they should be careful about rising costs of doing business,
especially players in the second or third tier. In 2008, many property
developers and contractors were caught having to deliver on contracts when
raw materials and oil prices hit record highs, which eroded their margins
or incurred losses.
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However, the situation was slightly different now as the slew of projects
was supported by the Government under the Economic Transformation Programme
and the players should be on a "firmer footing".
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The value of domestic contracts awarded in the fourth quarter year 2010
totalled RM4.7bil (up 49% year-on-year, down 16% quarter-on-quarter). For
the full year 2010, this amounted to RM15.6bil (up 56%), which beat the
research house's RM13bil target. Based on the report, it conservatively
estimated domestic contract awards to reach RM18bil this year.
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Given the possibility of an early general election in this year 2011 the
research house envisaged the momentum of positive news flow to accelerate
further and rerating on valuations. There were concerns about rising costs
of projects this year that could affect profit margins of players but the
research house believed that as most of these projects were mandated or
driven by the Government, they should be relatively safe. There is no
rising costs as well of raw materials as a major issue affecting margins as
they are likely to be factored in at the bidding price. However, if there
was a sudden and marked increase in prices of raw materials, then it could
be a concern on profitability of the projects.
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Prices of raw materials for the construction sector and fuel had risen,
they had so far increased fairly gradually. So long as the pace of increase
remains gradual, cost should not be an issue.
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The timely execution and implementation of these major government projects
was vital. The start of the MRT for greater KL is slated to kick off in
July. The projects would materialise was fuelled by the fact that the
Government would be using very established and proven property developers
with good track.
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Late start and delivery of projects had often been the reason for the major
cost overruns in some of the past government and private projects.
Naturally, if a project is not delivered on time, the costs will go up and
so will the costs of raw materials generally.
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The Master Builders Association Malaysia (MBAM) expects raw material prices
for the construction industry to increase this year but still at a
manageable level. Its president Kwan Foh Kwai said the association expected
the increase to be less than 10%.
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If raw material prices were to increase by more than 10%, than the industry
players would look at alternative sources. Raw material prices have always
been subject to market forces. There will be increase (in prices) but
within a reasonable percentage.
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On the 2011 outlook for the industry is optimistic the year would be good
for the industry, backed by the implementation of projects under the 10th
Malaysia Plan and the Economic Transformation Programme.
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OVERALL INDUSTRY OUTLOOK : Average Growth
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COMMENTS & RECOMMENDATION
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During our investigation, we were unable to contact the SC as well
as its Directors as they have not registered their telephone numbers with
Telekom Malaysia Directory, a telephone service provider in Malaysia. We
noted that the SC does not submitted any financial statements to the Registry
Office since its incorporation. In view of this, the SC's existence in the
market is in doubt. Based on the above condition, the SC is not qualified
for credit assessment.
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