|
* Adopted abbreviations : SC - Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
295514-U
|
|
COMPANY NAME
|
:
|
PADIBERAS NASIONAL BHD
|
|
FORMER NAME
|
:
|
SYARIKAT PADIBERAS NASIONAL BHD (30/03/1995)
|
|
INCORPORATION DATE
|
:
|
14/04/1994
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PUBLIC
|
|
LISTED STATUS
|
:
|
YES
|
|
LISTED DATE
|
:
|
25/08/1997
|
|
REGISTERED ADDRESS
|
:
|
MENARA HLA, 3, JALAN IA PENG, LEVEL 31, 50450 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
MENARA HLA, LEVEL 27, 3 JALAN KIA PENG, 50450 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-21749777
|
|
FAX.NO.
|
:
|
03-21611887
|
|
WEB SITE
|
:
|
www.bernas.com.my
|
|
CONTACT PERSON
|
:
|
WIRA SYED ABDUL JABBAR, BIN SYED HASSAN ( CHAIRMAN )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
01111 51231
|
|
PRINCIPAL ACTIVITY
|
:
|
IMPORT & DISTRIBUTION OF RICE AND GROWING OF PADDY
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
1,000,000,001.00 DIVIDED INTO
ORDINARY SHARE 1,000,000,000.00 OF MYR 1.00 EACH.
PREFERENCE SHARE 1.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR
470,401,501.00 DIVIDED INTO
ORDINARY SHARES 470,401,500 CASH OF MYR 1.00 EACH.
PREFERENCE SHARES 1 CASH OF MYR 1.00 EACH.
|
|
SALES
|
:
|
MYR 3,172,973,000 [2010]
|
|
NET WORTH
|
:
|
MYR 1,058,916,000 [2010]
|
|
M1000 OVERALL RANKING
|
:
|
148[2009]
|
|
M1000 INDUSTRY RANKING
|
:
|
13[2009]
|
|
STAFF STRENGTH
|
:
|
2,800 [2011]
|
|
BANKER (S)
|
:
|
|
ALLIANCE
BANK MALAYSIA BHD
MALAYAN BANKING BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
STRONG
|
|
PAYMENT
|
:
|
PROMPT
|
|
MANAGEMENT CAPABILITY
|
:
|
GOOD
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
GOOD
|
|
INDUSTRY OUTLOOK
|
:
|
MATURE
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD32,274,926
|
HISTORY / BACKGROUND
As a public limited company, the SC must
have at least one shareholder but there is no limit on the maximum number of
shareholders. The SC must have at least two directors. A public 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 liabilities of the shareholders are only up
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 must file in its annual return,
together with its financial statements with the Registrar of Companies. In
Malaysia, all the companies seeking listing on the Bursa Malaysia (Malaysia
Stock Exchange) must be public limited companies.
The SC is principally engaged in the (as a / as an) import & distribution
of rice and growing of paddy.
The SC was listed on the Main Board of Bursa Malaysia Securities Bhd on 25/08/1997
|
According to the Malaysia 1000 publication, the SC's ranking are as
follows:
|
|
|
|
|
|
|
|
|
YEAR
|
2009
|
2008
|
2005
|
2004
|
|
|
OVERALL RANKING
|
148
|
135
|
116
|
94
|
|
|
INDUSTRY RANKING
|
13
|
9
|
9
|
6
|
|
The immediate holding company of the SC is
TRADEWINDS (M) BERHAD, a company incorporated in MALAYSIA.
The major shareholder(s) of the SC are
shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MAYBAN NOMINEES (TEMPATAN) SDN BHD
[TRADEWINDS (M) BERHAD]
|
MENARA MAYBANK, 100 JALAN TUN PERAK, 14TH FLOOR, 50050 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
258939
|
341,375,471.00
|
|
AIBB NOMINEES (TEMPATAN) SDN BHD
[BATU BARA RESOURCES]
|
|
242231
|
22,096,000.00
|
|
LEMBAGA TABUNG HAJI
|
BANGUNAN TABUNG HAJI, 201, JALAN TUN RAZAK, 50400 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
18,241,400.00
|
|
PERTUBUHAN PELADANG KEBANGSAAN
|
LOT 9, JALAN 241, SECTION 51A, 46100 PETALING JAYA, SELANGOR,
MALAYSIA.
|
|
16,098,006.00
|
|
PERSATUAN NELAYAN KEBANGSAAN (NEKMAT)
|
|
|
16,092,006.00
|
|
HLG NOMINEE (TEMPATAN) SDN BHD
[ILUSTRASI HIKMAT SDN BHD]
|
PLAZA DAMANSARA UTAMA, 2, JALAN SS 21/60, DAMANSARA UTAMA, 2ND
FLOOR, 47400 PETALING JAYA, SELANGOR, MALAYSIA.
|
250650
|
6,386,503.00
|
|
CIMB NOMINEES (TEMPATAN) SDN BHD
[ECONOMIC PLANNING UNIT APPROVED INVESTORS]
|
BANGUNAN CIMB, JALAN SEMANTAN, DAMANSARA HEIGHTS, 10TH FLOOR, 50490
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
31147
|
1,374,000.00
|
|
BATU BARA SDN BHD
|
GM 484, LOT 849, BT 6, JLN KUALA PERLIS, 02000 KUALA PERLIS, PERLIS,
MALAYSIA.
|
173848
|
780,000.00
|
|
AMANAHRAYA TRUSTEES BHD
[PUBLIC ISLAMIC SECTOR SELECT FUND]
|
|
766894
|
730,000.00
|
|
ROSNI BTE RAHMAT
|
|
|
460,000.00
|
|
REMAINING SHAREHOLDERS
|
|
|
46,768,115.00
|
|
|
|
|
---------------
|
|
|
|
|
470,401,501.00
|
|
|
|
|
============
|
+ Also Director
The SC interest in other companies
(Subsidiaries/Associates) are shown as follow :
Local No
|
Company
|
(%)
|
As At
|
|
428934
|
BERNAS PRODUCTION SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
480493
|
BERAS CORPORATION SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
386337
|
BERNAS LOGISTICS SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
|
BERNAS OVERSEAS (L) LIMITED
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
378561
|
BERNAS DOMINALS SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
|
BERNAS PROJECT & DEVELOPMENT SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
|
BERNAS AGROTECH SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
|
BERNAS SEED PRO SDN BHD
|
100
|
31/12/2010
|
|
|
|
|
|
|
|
|
390534
|
EDARAN BERNAS NASIONAL SDN BHD
|
80
|
31/12/2010
|
|
|
|
|
|
|
|
|
162356
|
JASMINE FOOD CORPORATION SDN BHD
|
61
|
31/12/2010
|
|
|
|
|
|
|
|
|
472357
|
ERA BAYAM KOTA SDN BHD
|
60
|
31/12/2010
|
|
|
|
|
|
|
|
|
452413
|
YHL HOLDING SDN BHD
|
51
|
31/12/2010
|
|
|
|
|
|
|
|
|
247191
|
SYARIKAT FAIZA SDN BHD
|
51
|
31/12/2010
|
|
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
DATO' WIRA SYED ABDUL JABBAR BIN DATO SYED HASSAN
|
|
Address
|
:
|
23, JALAN 7, KEMANSAH HEIGHTS, ULU KELANG, 68000 AMPANG, SELANGOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
4176920
|
|
New IC No
|
:
|
391208-02-5153
|
|
Date of Birth
|
:
|
08/12/1939
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
10/07/2006
|
|
|
|
|
|
Qualification
|
:
|
BACHELOR OF ECONOMICS DEGREE FROM THE UNIVERSITY OF WESTERN AUSTRALIA.
MASTER OF SCIENCE DEGREE IN MARKETING FROM THE UNIVERSITY OF NEWCASTLE-UPON
TYNE, UNITED KINGDOM.
|
|
Working Experience
|
:
|
HE WAS FORMER EXECUTIVE CHAIRMAN OF THE MALAYSIA MONETRY EXCHANGE
FROM 1996 TO 1998. HE WAS CHIEF EXECUTIVE OFFICER OF THE KUALA LUMPUR
COMMODITY EXCHAGE FROM 1980 TO 1996
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
DATO' AZMAN BIN UMAR
|
|
Address
|
:
|
36, JALAN CEMPAKA 26, TAMAN CEMPAKA, 68000 AMPANG, SELANGOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
4609467
|
|
New IC No
|
:
|
540613-05-5475
|
|
Date of Birth
|
:
|
13/06/1954
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
20/06/2006
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. SYED ABU BAKAR BIN S MOHSIN ALMOHDZAR
|
|
Address
|
:
|
1 LENGKOK AMINUDDIN BAKI, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
3761167
|
|
New IC No
|
:
|
510104-03-5145
|
|
Date of Birth
|
:
|
04/01/1951
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
22/11/2005
|
|
Working Experience
|
:
|
PREVIOUSLY A GROUP VICE PRESIDENT OF PERBADANAN. JOINED PERBADANAN
IN 1974 & HAS HELD SEVERAL SENIOR POSITIONS IN THE PERBADANAN GROUP
|
|
Other Info
|
:
|
ACCA, UK HON SECRETARY OF THE EQUETRIAN ASSOCIATION OF MALAYSIA
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. BAKRY BIN HAMZAH
|
|
Address
|
:
|
16, JALAN PUNCAK KIARA 3, DESA SRI HARTAMAS, 50480 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
5525704
|
|
New IC No
|
:
|
571019-08-6203
|
|
Date of Birth
|
:
|
19/10/1957
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
14/09/2005
|
|
|
|
|
|
Qualification
|
:
|
B.A (HONS) UM IN 1980.
|
|
Working Experience
|
:
|
ASST DIRECTOR OF MARKETING AT NATIONAL RICE & PADDY BOARD, KNOWN
AS SYARIKAT PADI & BERAS NASIONAL (BERNAS) FROM 1980 TO 1984. FROM 1984
TO 1987, OPERATIONS MANAGER AT BUKHARY HOLDINGS SDN BHD
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
DATUK AZIZAN BIN AYOB
|
|
Address
|
:
|
7, JALAN PRIA 5, TAMAN MALURI, CHERAS, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
0115926
|
|
New IC No
|
:
|
460714-02-5195
|
|
Date of Birth
|
:
|
14/07/1946
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
30/09/2003
|
DIRECTOR 6
|
Name Of Subject
|
:
|
DATO' ABD RAHMAN BIN DATUK HJ DAHLAN
|
|
Address
|
:
|
60, JALAN WANGSA 11, BUKIT ANTARABANGSA, 68000 AMPANG, SELANGOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
H0640227
|
|
New IC No
|
:
|
651124-12-5649
|
|
Date of Birth
|
:
|
24/11/1965
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
15/10/2002
|
DIRECTOR 7
|
Name Of Subject
|
:
|
DATO' MOHD MOKHTAR BIN ISMAIL
|
|
Address
|
:
|
11A, JALAN SS 4B/10, KELANA JAYA, 47301 PETALING JAYA, SELANGOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
4470755
|
|
New IC No
|
:
|
521111-02-5125
|
|
Date of Birth
|
:
|
11/11/1952
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
DIRECTOR 8
|
Name Of Subject
|
:
|
MR. CHUAH SEONG TAT @ CHUAH CHEE TAT
|
|
Address
|
:
|
2174-P, TAMAN TUNKU HABSAH, 05100 ALOR SETAR, KEDAH, MALAYSIA.
|
|
IC / PP No
|
:
|
4215275
|
|
New IC No
|
:
|
511117-02-5127
|
|
Date of Birth
|
:
|
17/11/1951
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
WIRA SYED ABDUL JABBAR, BIN SYED HASSAN
|
|
|
Position
|
:
|
CHAIRMAN
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SABRINA BTE YUN
|
|
|
Position
|
:
|
GENERAL MANAGER
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
BAKRY BIN HAMZAH
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
4)
|
Name of Subject
|
:
|
AHMAD TARMIZI BIN MOHAMED HARIRI
|
|
|
Position
|
:
|
CHIEF FINANCE OFFICER
|
|
|
|
|
|
|
5)
|
Name of Subject
|
:
|
MOHAMMAD YUSSOF
|
|
|
Position
|
:
|
CREDIT CONTROLLER
|
|
|
|
|
|
|
6)
|
Name of Subject
|
:
|
WAN RAZIF BIN WAN MUSA
|
|
|
Position
|
:
|
GENERAL MANAGER
|
|
|
|
|
|
|
7)
|
Name of Subject
|
:
|
WAN RAMLAH
|
|
|
Position
|
:
|
ADMIN & HUMAN RESOURCE MANAGER
|
|
|
|
|
|
|
8)
|
Name of Subject
|
:
|
MOHAMAD BAHARI ALUAN
|
|
|
Position
|
:
|
HUMAN RESOURCE MANAGER
|
|
|
|
|
|
|
9)
|
Name of Subject
|
:
|
AHMAD FAISOL
|
|
|
Position
|
:
|
SENIOR CORPORATE COMMUNICATIONS MANAGER
|
|
|
|
|
|
|
10)
|
Name of Subject
|
:
|
MUHAMMAD RAMDAN BIN YUSOFF
|
|
|
Position
|
:
|
CHIEF OPERATING OFFICER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
HANAFIAH RASLAN & MOHAMAD
|
|
Auditor' Address
|
:
|
MENARA MILENIUM, JALAN DAMANLELA, PUSAT BANDAR DAMANSARA, BUKIT
DAMANSARA, LEVEL 23A, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. NASLIZA BTE MOHD NASIR
|
|
|
IC / PP No
|
:
|
A1446602
|
|
|
New IC No
|
:
|
691009-10-6080
|
|
|
Address
|
:
|
52, JALAN NOVA U5/60, SUBANG BESTARI, 40150 SHAH ALAM, SELANGOR,
MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
ALLIANCE BANK MALAYSIA BHD
|
|
|
|
|
|
|
2)
|
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 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
|
SOURCES OF RAW MATERIALS:
|
|
|
Local
|
:
|
YES
|
Percentage
|
:
|
30%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
70%
|
|
Import Countries
|
:
|
INDIA,PAKISTAN,THAILAND
|
The SC refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT
|
|
Prompt 0-30 Days
|
[
|
X
|
]
|
|
Good 31-60 Days
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
|
Type of Customer
|
:
|
DEALERS,RETAIL
|
OPERATIONS
|
Goods Traded
|
:
|
RICE AND GROWING OF PADDY
|
|
|
|
|
|
Brand Name
|
:
|
BERNAS,SAGA, JATI,SAKURA,SIAMBEST, PEARL,SUNWHITE,SUNFLOWER,ROYAL
UMBRELLA, MAHKOTA, TAJ MAHAL, KERIS
|
|
|
|
|
|
Competitor(s)
|
:
|
HIDUP BERPAKAT
SDN BHD
HOCK BEAN BEE RICE MILL (KUALA PERLIS) SDN BHD
KILANG BERAS BAGAN SERAI SDN BHD
PERUSAHAAN PADI (INTEGRATED) SEBERANG SDN BHD
PJP PELITA LUNDU PLANTATION SDN BHD
|
|
|
|
|
|
Ownership of
premises
|
:
|
OWNED
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
2,800
|
2,000
|
2,000
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) import & distribution
of rice and growing of paddy.
The SC involved in the procurement and processing of paddy, as well as the importation,
warehousing, distribution and marketing of rice in Malaysia.
To increase its presence along the entire industry supply chain, the SC also
involved in seed and farming activities, international rice joint venture, as
well as rice complementary businesses.
The SC continues to fulfill its obligations under a Privatisation Agreement
signed with the Government in 1996. These obligations include maintenance of
the nation's rice stockpile, acting as the buyer of last resort for paddy
farmers, managing the Bumiputera Rice Millers Scheme and the distribution of
Paddy Price Subsidies to farmers on behalf of the Government.
The SC offers a wide range of rice including Brown rice, Fragrant rice,
Glutinuous rice, Broken rice, Local White rice, Imported White rice, Basmati
rice, Parboiled rice and others.
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
|
:
|
03-21749777
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LEVEL-27 MENARA HLA NO-3 JALAN KIA PENJ 50450 KUALA LUMPUR
|
|
Current Address
|
:
|
MENARA HLA, LEVEL 27, 3 JALAN KIA PENG, 50450 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the SC staff and she provided some information regarding
to the SC.
FINANCIAL COMMENTS
Profitability:
|
Turnover
|
:
|
Erratic
|
[
|
2008 - 2010
|
]
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
2008 - 2010
|
]
|
|
Return on Shareholder Funds
|
:
|
Acceptable
|
[
|
16.77%
|
]
|
|
Return on Net Assets
|
:
|
Acceptable
|
[
|
16.74%
|
]
|
The fluctuating turnover reflects the fierce competition among the existing and
new market players. The dip in profit could be due to the stiff market
competition which reduced the SC's profit margin. The SC's management had
generated acceptable return for its shareholders using its assets.
Working Capital Control:
|
Stock Ratio
|
:
|
Unfavourable
|
[
|
67 Days
|
]
|
|
Debtors Ratio
|
:
|
Favourable
|
[
|
27 Days
|
]
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
11 Days
|
]
|
The SC could be incurring higher holding cost. As its capital was tied up in stocks,
it could face liquidity problems. The favourable debtors' days could be due
to the good credit control measures implemented by the SC. The SC had a
favourable creditors' ratio as evidenced by its favourable collection days.
The SC could be taking advantage of the cash discounts and also wanting to
maintain goodwill with its creditors.
Liquidity:
|
Liquid Ratio
|
:
|
Favourable
|
[
|
1.48 Times
|
]
|
|
Current Ratio
|
:
|
Favourable
|
[
|
2.24 Times
|
]
|
A minimum liquid ratio of 1 should be maintained by the SC in order to assure
its creditors of its ability to meet short term obligations and the SC was in
a good liquidity position. Thus, we believe the SC is able to meet all its
short term obligations as and when they fall due.
Solvency
|
Interest Cover
|
:
|
Acceptable
|
[
|
9.68 Times
|
]
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.03 Times
|
]
|
The SC's interest cover was slightly low. If there is no sharp fall in its profit
or sudden increase in the interest rates, we believe the SC is able to
generate sufficient income to service its interest and repay the loans. The
SC was lowly geared thus it had a low financial risk. The SC was mainly
financed by its shareholders' funds and internally generated funds. In times
of economic slowdown / downturn, the SC being a lowly geared company, will be
able to compete better than those companies which are highly geared in the
same industry.
Overall
Assessment:
The SC recorded lower
profits as its turnover showed a erratic trend. The SC's management was
unable to control its costs efficiently as its profit showed a downward
trend. The SC was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the SC should be able to repay its short term obligations. The SC had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the SC's profit, we do believe the SC is able to
generate sufficient cash flow to service its interest payment. The SC as a
lowly geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations.
Overall financial condition of the SC : STRONG
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
|
|
01111 : Growing of paddy
|
|
51231 : Wholesale of rice, other grains, flour and sugar
|
|
|
|
|
INDUSTRY :
|
AGRICULTURE
|
|
|
|
|
|
|
Global infation is expected to decelerate further in 2009 due to sluggish
real economic activity and the sharp declines in commodity prices.
|
|
The agriculture sector is expected to register a decline of 2.0%, due
mainly to lower production of both palm oil and rubber as the expected
lower prices of both commodities will reduce the incentive for marginal
producers to maintain the output growth trend seen in recent years.
However, this decline will be partially mitigated by positive growth in the
food crops sub-sector, particularly livestock, fsheries and
vegetables.
|
|
With commodity prices having dropped rapidly in the final quarter of 2008,
the situation is now reversed. The world price for palm oil has fallen from
more than US$1,200 per tonne a year ago to little over US$500 a tonne at
the beginning of March 2009. Rubber prices have shown a similar trend,
falling from around US$0.270/kg in March 2008 to US$0.135/kg a year later.
This will see agricultural export earnings fall sharply. Production of both
rubber and palm oil is also likely to fall as the government implements
policies to attempt to shore up prices and producers bring forward work on
replanting and rejuvenating their estates.
|
|
The sharp increase in world cereal production (comprising wheat, rice and
coarse grains) in 2008 will facilitate a rebalancing of the global cereal
supply and demand in 2009. Data from the February 2009 edition of the Food
and Agriculture Organization of the United Nations' (FAO) Crop Prospects
and Food Situation indicates that the ratio of cereal production relative
to utilization has increased from 0.97 in 2006/07, to 1 in 2007/08, and to
1.03 in 2008/09. This development has exerted downward pressure on
international cereal prices.
|
|
The recession has also impacted the rice market, with the government
struggling to deal with a surge in demand for subsidised low-cost rice. The
government has been providing millers with subsidies to produce low-grade
15% broken Super Tempatan (ST15) rice. The cheap rice has, however, proved
increasingly popular with regular consumers as the recession has hit
pockets. Prices for chicken and pork rose sharply through the first half of
the year and at the time of writing were back up around the level seen at
the height of the 'food crisis' of 2008.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Mature
|
COMMENTS & RECOMMENDATION
|
Incorporated in 1994, the SC is a public listed company focusing on import
and distribution of rice and growing of paddy. Being a public listed
company has enabled the SC to have direct access to the capital market for
funds required for its future expansion and continued growth. Good
reputation build up over the years has given the SC an edge when competing
in the industry. With a large issued and paid up capital of RM470.4
million, the SC's business has been expanding comfortably over the years.
|
|
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 is a large entity with a work force of 2,800. Its business operation is
considered stable. Overall, the management capability of the SC is good.
|
|
During the financial year under review, the SC's turnover and pre-tax
profit stood at RM3.17 billion and RM245.78 million respectively. Return on
shareholders' funds of the SC was at an acceptable range which indicated
that the management was efficient in utilising its funds to generate
income. The SC managed to maintain an adequate liquidity level, indicating
that the SC has the ability to meet its financial obligations. Being a
lowly geared company, the SC is exposed to low financial risk as it is mainly
dependent on its internal funds to finance its business needs. A huge
networth of RM1.06 million allowed the SC to maintain its business in the
near terms.
|
|
Our investigation revealed that the SC sources 30% of its products locally
while the rest are obtained from overseas suppliers. As an export-oriented
company and being involved in import activities, the SC is exposed to
foreign exchange risk.
|
|
We regard that the SC's overall payment habit is prompt. The SC is capable
to meet small & medium commitments. Little caution needed for big
transactions.
|
|
The industry has reached its optimum level and is generally stable. It is
saturated and very competitive. Thus, the SC's growth prospect is very much
depends on its capacity in sustaining its performance in the market.
However, with its favourable conditions, the SC has competitve edge against
other players in the same field.
|
|
In view of the above, we recommend credit be granted to the SC promptly.
|
CONSOLIDATED PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING STANDARD.
|
|
PADIBERAS
NASIONAL BHD
|
|
For The Year
Ended 31-December-2010
|
|
|
2010
|
2009
|
2008
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
|
|
TURNOVER
|
3,172,973,000
|
3,259,876,000
|
2,501,954,000
|
|
|
=========
|
=========
|
=========
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
211,911,000
|
238,326,000
|
<142,282,000>
|
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES
|
33,870,000
|
-
|
47,953,000
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
245,781,000
|
238,326,000
|
<94,329,000>
|
|
Taxation
|
<59,620,000>
|
<58,789,000>
|
36,857,000
|
|
PROFIT/(LOSS) AFTER TAXATION
|
-------------
186,161,000
|
-------------
179,537,000
|
-------------
<57,472,000>
|
|
Minority interests
|
<8,623,000>
|
<10,276,000>
|
<18,546,000>
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
-------------
177,538,000
|
-------------
169,261,000
|
-------------
<76,018,000>
|
|
|
|
|
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD
|
-------------
177,538,000
|
-------------
169,261,000
|
-------------
<76,018,000>
|
|
As previous reported
|
527,645,000
|
369,307,000
|
468,996,000
|
|
Prior year adjustment
|
<8,362,000>
|
-
|
-
|
|
As restated
|
-------------
519,283,000
|
-------------
369,307,000
|
-------------
468,996,000
|
|
|
-------------
|
-------------
|
-------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
696,821,000
|
538,568,000
|
392,978,000
|
|
|
|
|
|
|
TRANSFER TO RESERVES - General
|
-
|
<338,000>
|
-
|
|
|
|
|
|
|
DIVIDENDS - Ordinary (paid & proposed)
|
<127,008,000>
|
<10,585,000>
|
<23,671,000>
|
|
|
|
|
|
|
|
|
|
|
|
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD
|
-------------
569,813,000
==========
|
-------------
527,645,000
==========
|
-------------
369,307,000
==========
|
|
RETAINED BY: The Company
|
569,813,000
|
527,645,000
|
369,307,000
|
|
|
-------------
569,813,000
==========
|
-------------
527,645,000
==========
|
-------------
369,307,000
==========
|
|
INTEREST EXPENSE (as per notes to PL)
|
|
|
|
|
Interest expense on borrowings
|
27,009,000
|
22,137,000
|
21,394,000
|
|
Bank charges
|
1,315,000
|
2,059,000
|
1,657,000
|
|
|
--------------
28,324,000
===========
|
--------------
24,196,000
===========
|
--------------
23,051,000
===========
|
CONSOLIDATED BALANCE SHEET
|
PADIBERAS
NASIONAL BHD
|
|
As At
31-December-2010
|
|
|
|
|
|
|
|
2010
|
2009
|
2008
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET EMPLOYED:
|
|
|
|
|
FIXED ASSETS
|
381,098,000
|
357,346,000
|
361,284,000
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
|
|
Subsidiary companies
|
-
|
232,323,000
|
-
|
|
|
Associated companies
|
242,363,000
|
40,000
|
210,508,000
|
|
|
Investments
|
-
|
-
|
40,000
|
|
|
Deffered assets
|
62,704,000
|
51,454,000
|
78,205,000
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
------------
305,067,000
|
------------
283,817,000
|
------------
288,753,000
|
|
|
|
|
|
|
|
INTANGIBLE ASSETS
|
|
|
|
|
|
Goodwill on consolidation
|
139,000
|
139,000
|
210,000
|
|
TOTAL INTANGIBLE ASSETS
|
------------
139,000
|
------------
139,000
|
------------
210,000
|
|
TOTAL LONG TERM ASSETS
|
------------
686,304,000
|
------------
641,302,000
|
------------
650,247,000
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stocks
|
583,877,000
|
552,929,000
|
371,501,000
|
|
|
|
|
|
|
|
|
Trade debtors
|
234,562,000
|
279,198,000
|
385,662,000
|
|
|
Other debtors, deposits & prepayments
|
606,123,000
|
497,929,000
|
394,654,000
|
|
|
Short term deposits
|
-
|
51,242,000
|
3,859,000
|
|
|
Deposits with financial institution
|
-
|
36,150,000
|
61,071,000
|
|
|
Amount due from associated company
|
45,479,000
|
-
|
-
|
|
|
|
|
|
|
|
|
Cash & bank balances
|
243,872,000
|
111,423,000
|
147,670,000
|
|
|
Money at all & short notice
|
-
|
-
|
15,201,000
|
|
|
Tax recoverable
|
1,916,000
|
-
|
-
|
|
|
Non current asset held for sale
|
-
|
4,870,000
|
4,276,000
|
|
TOTAL CURRENT ASSETS
|
------------
1,715,829,000
|
------------
1,533,741,000
|
------------
1,383,894,000
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
Trade creditors
|
96,400,000
|
64,232,000
|
46,020,000
|
|
|
Other creditors & accruals
|
127,166,000
|
130,570,000
|
84,939,000
|
|
|
Hire purchase & lease creditors
|
2,815,000
|
4,082,000
|
3,337,000
|
|
|
Bank overdraft
|
4,234,000
|
3,959,000
|
4,340,000
|
|
|
Short term borrowings/Term loans
|
4,774,000
|
3,392,000
|
2,356,000
|
|
|
Other borrowings
|
4,364,000
|
-
|
5,634,000
|
|
|
|
|
|
|
|
|
Bill & acceptances payable
|
499,190,000
|
749,135,000
|
843,126,000
|
|
|
|
|
|
|
|
|
Amounts owing to associated companies
|
304,000
|
338,000
|
-
|
|
|
|
|
|
|
|
|
Provision for taxation
|
20,825,000
|
22,853,000
|
12,699,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retirement benefit obligations
|
4,428,000
|
3,968,000
|
3,018,000
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
------------
764,500,000
|
------------
982,529,000
|
------------
1,005,469,000
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
------------
951,329,000
|
------------
551,212,000
|
------------
378,425,000
|
|
TOTAL NET ASSETS
|
------------
1,637,633,000
==========
|
------------
1,192,514,000
==========
|
------------
1,028,672,000
==========
|
|
|
|
|
|
|
|
FINANCED BY:
|
|
|
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
Ordinary share capital
|
470,402,000
|
470,402,000
|
470,402,000
|
|
TOTAL SHARE CAPITAL
|
470,402,000
------------
|
470,402,000
------------
|
470,402,000
------------
|
|
RESERVES
|
|
|
|
|
|
Share premium
|
7,085,000
|
7,085,000
|
-
|
|
|
Capital reserve
|
2,864,000
|
2,864,000
|
-
|
|
|
|
|
|
|
|
|
Exchange equalisation/fluctuation reserve
|
<3,768,000>
|
<2,262,000>
|
-
|
|
|
Retain profit/(Accumulated loss) carried forward
|
569,813,000
|
527,645,000
|
369,307,000
|
|
|
Non-distributable reserves
|
-
|
-
|
21,546,000
|
|
|
Capital redemption reserve
|
12,520,000
|
12,520,000
|
-
|
|
TOTAL RESERVES
|
------------
588,514,000
|
------------
547,852,000
|
------------
390,853,000
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
------------
1,058,916,000
|
------------
1,018,254,000
|
------------
861,255,000
|
|
MINORITY INTEREST
|
------------
83,640,000
|
------------
70,019,000
|
------------
63,655,000
|
|
|
|
|
|
|
|
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
|
|
|
|
|
Long term loans
|
6,211,000
|
7,937,000
|
7,541,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hire purchase creditors
|
4,901,000
|
4,854,000
|
5,244,000
|
|
|
Deferred taxation
|
19,604,000
|
28,083,000
|
32,500,000
|
|
|
|
|
|
|
|
|
Retirement benefits provision
|
65,989,000
|
63,367,000
|
58,477,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Others (please specify)
|
398,372,000
|
-
|
-
|
|
TOTAL LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
------------
495,077,000
|
------------
104,241,000
|
------------
103,762,000
|
|
|
------------
|
------------
|
------------
|
|
|
1,637,633,000
|
1,192,514,000
|
1,028,672,000
|
|
|
==========
|
==========
|
==========
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED FINANCIAL RATIOS
|
PADIBERAS
NASIONAL BHD
|
|
As At
31-December-2010
|
|
|
2010
|
2009
|
2008
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
|
|
Cash
|
243,872,000
|
162,665,000
|
151,529,000
|
|
|
Net Liquid Funds
|
234,864,000
|
155,314,000
|
144,833,000
|
|
|
Net Liquid Assets
|
367,452,000
|
<1,717,000>
|
6,924,000
|
|
|
Net Current Assets/(Liabilities)
|
951,329,000
|
551,212,000
|
378,425,000
|
|
|
Net Tangible Assets
|
1,637,494,000
|
1,192,375,000
|
1,028,462,000
|
|
|
Net Monetary Assets
|
<127,625,000>
|
<105,958,000>
|
<96,838,000>
|
|
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
Total Borrowings
|
27,299,000
|
24,224,000
|
28,452,000
|
|
|
Total Liabilities
|
1,259,577,000
|
1,086,770,000
|
1,109,231,000
|
|
|
Total Assets
|
2,402,133,000
|
2,175,043,000
|
2,034,141,000
|
|
|
Net Assets
|
1,637,633,000
|
1,192,514,000
|
1,028,672,000
|
|
|
Net Assets Backing
|
1,142,556,000
|
1,088,273,000
|
924,910,000
|
|
|
Shareholders" Funds
|
1,058,916,000
|
1,018,254,000
|
861,255,000
|
|
|
Total Share Capital
|
470,402,000
|
470,402,000
|
470,402,000
|
|
|
Total Reserves
|
588,514,000
|
547,852,000
|
390,853,000
|
|
|
|
|
|
|
|
LIQUIDITY(Times)
|
|
|
|
|
|
Cash Ratio
|
0.32
|
0.17
|
0.15
|
|
|
Liquid Ratio
|
1.48
|
1.00
|
1.01
|
|
|
Current Ratio
|
2.24
|
1.56
|
1.38
|
|
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
|
Stock Ratio
|
67
|
62
|
54
|
|
|
Debtors Ratio
|
27
|
31
|
56
|
|
|
Creditors Ratio
|
11
|
7
|
7
|
|
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
Gearing Ratio
|
0.03
|
0.02
|
0.03
|
|
|
Liabilities Ratio
|
1.19
|
1.07
|
1.29
|
|
|
Times Interest Earned Ratio
|
9.68
|
10.85
|
<3.09>
|
|
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
Operating Profit Margin
|
7.75
|
7.31
|
<3.77>
|
|
|
Net Profit Margin
|
5.60
|
5.19
|
<3.04>
|
|
|
Return On Net Assets
|
16.74
|
22.01
|
<6.93>
|
|
|
Return On Capital Employed
|
16.62
|
21.81
|
<6.86>
|
|
|
Return On Shareholders' Funds/Equity
|
16.77
|
16.62
|
<8.83>
|
|
|
Dividend Pay Out Ratio (Times)
|
0.72
|
0.06
|
<0.31>
|
|
|
|
|
|
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
|
Contingent Liabilities
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
