|
* Adopted abbreviations : SC
- Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
39096-U
|
|
COMPANY NAME
|
:
|
ANTA INDUSTRIAL PARTS SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
02/05/1978
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
15, JALAN BELANGKAS, OFF JALAN KAMPUNG PANDAN, 55100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 15, JALAN BELANGKAS, OFF JALAN KAMPUNG PANDAN, 55100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-92850377
|
|
FAX.NO.
|
:
|
03-92856036
|
|
CONTACT PERSON
|
:
|
LOW WEA GIAP ( DIRECTOR )
|
|
INDUSTRY CODE
|
:
|
51591
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING IN INDUSTRIAL EQUIPMENT
|
|
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 374,500.00
DIVIDED INTO
ORDINARY SHARES 374,500 CASH OF MYR 1.00 EACH.
|
|
SALES
|
:
|
MYR 8,968,275 [2009]
|
|
NET WORTH
|
:
|
MYR 1,190,833 [2009]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
20 [2011]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
POOR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD2,870
|
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) trading in industrial
equipment.
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
|
|
MDM. LIM SWEE INN @ LIM SWEE WAH +
|
47, JALAN BUDIMAN 1, TAMAN MULIA, BANDAR TUN RAZAK, CHERAS, 56100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
470426-04-5086
0860659
|
364,500.00
|
|
MR. LOW WEA GIAP +
|
68, JALAN MIDAH 14, TAMAN MIDAH, CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
771027-04-5563
A3848178
|
10,000.00
|
|
|
|
|
---------------
|
|
|
|
|
374,500.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. LOW WEA HAW
|
|
Address
|
:
|
68, JALAN MIDAH 14, TAMAN MIDAH, CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
A2954026
|
|
New IC No
|
:
|
741207-04-5061
|
|
Date of Birth
|
:
|
07/12/1974
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
15/02/2007
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. LOW WEA FONG
|
|
Address
|
:
|
68, JALAN MIDAH 14, TAMAN MIDAH, CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
810604-14-5695
|
|
Date of Birth
|
:
|
04/06/1981
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
15/02/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. LOW WEA GIAP
|
|
Address
|
:
|
68, JALAN MIDAH 14, TAMAN MIDAH, CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
A3848178
|
|
New IC No
|
:
|
771027-04-5563
|
|
Date of Birth
|
:
|
27/10/1977
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
01/09/1998
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MDM. LIM SWEE INN @ LIM SWEE WAH
|
|
Address
|
:
|
47, JALAN BUDIMAN 1, TAMAN MULIA, BANDAR TUN RAZAK, CHERAS, 56100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
0860659
|
|
New IC No
|
:
|
470426-04-5086
|
|
Date of Birth
|
:
|
26/04/1947
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
02/05/1978
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LOW WEA GIAP
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
S F YAP & CO
|
|
Auditor' Address
|
:
|
17 & 19, JALAN BRUNEI BARAT, PUDU, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. HAH KAT CAN
|
|
|
IC / PP No
|
:
|
A0303188
|
|
|
New IC No
|
:
|
651219-10-6475
|
|
|
Address
|
:
|
41 JALAN SL 2/3, BANDAR SUNGAI LONG, 43000 KAJANG, SELANGOR,
MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
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
|
:
|
27/06/1984
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM190,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) 10886 PT 908 MK AMPANG DISTRICT KL
|
|
Name & Address Of Chargee
|
:
|
UMBC SDN BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 14/08/1984
|
|
Registered and Numbered 1(BK 263/68) In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
27/12/1991
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM185,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
UMBC SDN BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 3 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
27/12/1991
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM185,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) 64029, PT 907, MK AMPANG, SELANGOR
|
|
Name & Address Of Chargee
|
:
|
UMBC SDN BHD
LOT G.06, WISMA SCA, 3 JLN SG BESI, GRD FLR, 57100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 04/01/1992
|
|
Registered and Numbered 4 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
02/06/2008
|
|
Description Of Charge
|
:
|
2ND LEGAL CHARGE
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
2ND LEGAL CHARGE OVER THE PROPERTY HELD UNDER HSD 10886 PT 908,
MUKIM AMPANG, KUALA LUMPUR
|
|
Name & Address Of Chargee
|
:
|
RHB BANK BHD
50-52, JALAN PASAR, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 11/06/2008
|
|
Registered and Numbered 5 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
02/06/2008
|
|
Description Of Charge
|
:
|
3RD LEGAL CHARGE
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
3RD LEGAL CHARGE OVER THE PROPERTY HELD UNDER HSD 64029, PT 907,
MUKIM AMPANG, KUALA LUMPUR
|
|
Name & Address Of Chargee
|
:
|
RHB BANK BHD
50-52, JALAN PASAR, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 11/06/2008
|
|
Registered and Numbered 6 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
14/10/2009
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
RHB BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 19/10/2009
|
|
Registered and Numbered 7 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
14/10/2009
|
|
Description Of Charge
|
:
|
OPEN ALL MONIES 3RD LEGAL CHARGE
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
A 4 STOREY SHOPHOUSE AT 15, JLN BELANGKAS, OFF JLN KAMPUNG PANDAN,
55100 KUALA LUMPUR HELD UNDER TITLE HSD 10886, PT 908, MUKIM AMPANG, KUALA
LUMPUR
|
|
Name & Address Of Chargee
|
:
|
RHB BANK BHD
50-52, JALAN PASAR, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 22/10/2009
|
|
Registered and Numbered 8 In The Register of Charges
|
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SC
* We have checked through the SC in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
Import Countries
|
:
|
ASIA
|
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
|
[
|
|
]
|
|
Good 31-60 Days
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
X
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CASH,CHEQUES
|
|
Type of Customer
|
:
|
END USERS
|
OPERATIONS
|
Goods Traded
|
:
|
INDUSTRIAL EQUIPMENT
|
|
|
|
|
|
Competitor(s)
|
:
|
MASER (M) SDN
BHD
SIME DARBY INDUSTRIAL SDN BHD
TCIM SDN BHD
UMW (EAST MALAYSIA) SDN BHD
UMW CORPORATION SDN BHD
|
|
|
|
|
|
Ownership of premises
|
:
|
OWNED
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
2008
|
2007
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
COMPANY
|
20
|
23
|
20
|
20
|
20
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading in industrial
equipment.
The SC's products ranges are including engines, generators, machine parts,
tools and etc.
The SC offers various brands including HONDA, YAMAHA,KAWAZAKI, ROBIN and
others.
Besides that the SC also provides products based on the customers'
requirements.
The SC keeps stock of the products.
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
|
:
|
03-92850377
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO 15, JALAN BELANGKAS, OFF JALAN KAMPUNG PANDAN, 55100, KUALA
LUMPUR, WILAYAH PERSEKUTUAN.
|
|
Current Address
|
:
|
NO 15, JALAN BELANGKAS, OFF JALAN KAMPUNG PANDAN, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the Accounts Department. She provided some
information on the SC.
FINANCIAL COMMENTS
Profitability:
|
Turnover
|
:
|
Increased
|
[
|
2007 - 2009
|
]
|
|
Profit/(Loss) Before Tax
|
:
|
Increased
|
[
|
2007 - 2009
|
]
|
|
Return on Shareholder Funds
|
:
|
Unfavourable
|
[
|
3.32%
|
]
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
6.13%
|
]
|
The SC's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years. The SC's
management have been efficient in controlling its operating costs. The
unfavourable return on shareholders' funds and net assets could indicate that
the SC's management was inefficient in utilising its assets to generate
returns.
Working Capital Control:
|
Stock Ratio
|
:
|
Favourable
|
[
|
51 Days
|
]
|
|
Debtors Ratio
|
:
|
Unfavourable
|
[
|
101 Days
|
]
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
51 Days
|
]
|
The SC's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The SC's debtors ratio was high. The
SC should tighten its credit control and improve its collection period. 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
|
:
|
Unfavourable
|
[
|
0.71 Times
|
]
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.05 Times
|
]
|
A low liquid ratio means that the SC may be facing working capital
deficiency. If the SC cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations.
Solvency
|
Interest Cover
|
:
|
Unfavourable
|
[
|
2.77 Times
|
]
|
|
Gearing Ratio
|
:
|
Unfavourable
|
[
|
1.22 Times
|
]
|
The SC's interest cover was low. If its profits fall or when interest rate
rises, it may not be able to meet all its interest payment. The SC was highly
geared, thus it had a high financial risk. The SC was dependent on loans to
finance its business needs. In times of economic downturn and / or high
interest rate, the SC will become less profitable and competitive than other
firms in the same industry, which are lowly geared. This is because the SC
has to service the interest and to repay the loan, which will erode part of
its profits. The profits will fluctuate depending on the SC's turnover and
the interest it needs to pay.
Overall Assessment:
Generally, the
SC's performance has improved with higher turnover and profit. Due to its
weak liquidity position, the SC will be faced with problems in meeting all
its short term obligations if no short term loan is obtained or additional
capital injected into the SC. If there is a fall in the SC's profit or any
increase in interest rate, the SC may not be able to generate sufficient
cash-flow to service its interest. The SC's gearing level was high and its
going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates.
Overall financial condition of the SC : POOR
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
|
|
51591 : Wholesale of industrial and agricultural machinery and
equipment and wholesale of construction and civil engineering machinery and
equipment
|
|
|
|
|
INDUSTRY :
|
MACHINERY
|
|
|
|
|
|
|
The Master Builders Association Malaysia (MBAM) has suggested that the
government reduce the import duty and sales tax for heavy machinery used in
construction, on a systematic basis within two years, to five per cent from
the 20 per cent currently.
|
|
The reduction would enable construction machinery companies as well as the
industry, to remain competitive within ASEAN.
|
|
As a majority of the construction machinery in Malaysia is quite old, there
would be huge opportunities for construction machinery companies to
explore, penetrate and expand their businesses as well as to support the
implementation of projects in the country.
|
|
The MBAM is encouraging the use of newer machinery to improve efficiency
and also for safety purposes, as older ones, may have a higher safety risk
due to metal fatigue.
|
|
However, the existence of an import duty and sales tax are still required
to avoid large scale dumping of second hand machinery in Malaysia.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth
|
COMMENTS & RECOMMENDATION
|
Incorporated in 1978 as a private limited company, the SC is
principally engaged in the trading of industrial equipment including
engines, generators, machine parts, tools and etc. Having been in the
industries for over three decades, its long establishment in the market has
allowed the SC to build up a good reputation and gain higher market share
against its rivals. Presently, the issued and paid up capital of the SC
standing at RM374,500. 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 business operations is overseen by its managing director, Low Wea Giap
and assisted by 20 employees in the operations. Overall, its management
capability is average.
|
|
During the financial year 2009, the SC's turnover showed an upward
momentum, reaching RM8.96 million compared to RM8.11 million previously.
Correspondingly, its pre-tax profit rose to RM67,530. This was achieved on
the back of stronger performance of higher turnover. Despite the
improvement on the profitability, return on shareholders' funds of the SC
is relatively low, indicating that the SC did not generate an acceptable
amount of profits based on its existing shareholders' funds. Besides, we
noted that the SC's current liabilities well exceed its current assets. Due
to its weak liquidity position, the SC may face working capital deficiency
in meeting its short term financial obligations if no fresh capital is
injected into the SC. While the high gearing ratio clearly implied that the
SC was supported by more debt than equity. Thus, the SC is exposed to high
financial risk. Nevertheless, as the SC maintain a positive net worth
standing at RM1.19 million, we believe the SC is able to enhance its
business in the near term.
|
|
Investigation revealed that the SC imports its products from both local and
overseas market. Thus it is affected by foreign currency fluctuation.
Having been in the industry for over three decades, the SC has built up its
rapport with its suppliers. As a result, the SC has reduced its risk in
facing shortage of raw materials.
|
|
Based on the historical financial data, we concluded that the SC's payment
habit is average. The SC is capable to meet small and medium commitments.
|
|
The potential growth for the industry is marginal and it is quite
competitive. It is much dependent on the SC's capacity in sustaining its
performance in the market. As the SC is long presence in the market, it
should have acquired competitive edge against other players in the same
fields.
|
|
Based on the above condition, we recommend that credit be granted to the SC
normally.
|
PROFIT AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA ACCOUNTING
STANDARD.
|
|
ANTA
INDUSTRIAL PARTS SDN BHD
|
|
For
The Year Ended 31-December-2009
|
|
|
|
|
|
|
|
2009
|
2008
|
2007
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
|
|
TURNOVER
|
8,968,275
|
8,115,713
|
7,083,375
|
|
|
==========
|
==========
|
==========
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
67,530
|
55,721
|
47,507
|
|
|
|
|
|
|
|
------------
|
------------
|
------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
67,530
|
55,721
|
47,507
|
|
Taxation
|
<27,937>
|
<33,416>
|
<46,376>
|
|
PROFIT/(LOSS) AFTER TAXATION
|
------------
39,593
|
------------
22,305
|
------------
1,131
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
------------
39,593
|
------------
22,305
|
------------
1,131
|
|
|
|
|
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT FORWARD
|
------------
39,593
|
------------
22,305
|
------------
1,131
|
|
As previous reported
|
776,740
|
754,435
|
753,304
|
|
|
|
|
|
|
As restated
|
------------
776,740
|
------------
754,435
|
------------
753,304
|
|
|
------------
|
------------
|
------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
816,333
|
776,740
|
754,435
|
|
RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED FORWAD
|
------------
816,333
==========
|
------------
776,740
==========
|
------------
754,435
==========
|
|
RETAINED BY: The Company
|
816,333
|
776,740
|
754,435
|
|
|
------------
816,333
==========
|
------------
776,740
==========
|
------------
754,435
==========
|
|
INTEREST EXPENSE (as per notes to PL)
|
|
|
|
|
Term loan
|
6,822
|
-
|
-
|
|
Bank overdraft
|
19,281
|
18,993
|
5,850
|
|
|
|
|
|
|
Hire purchase
|
12,149
|
9,981
|
13,001
|
|
|
------------
38,252
==========
|
------------
28,974
==========
|
------------
18,851
==========
|
|
|
|
|
|
BALANCE SHEET
|
ANTA
INDUSTRIAL PARTS SDN BHD
|
|
As
At 31-December-2009
|
|
|
|
|
|
|
|
2009
|
2008
|
2007
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
ASSET EMPLOYED:
|
|
|
|
|
FIXED ASSETS
|
1,530,838
|
1,595,156
|
1,565,936
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LONG TERM ASSETS
|
------------
1,530,838
|
------------
1,595,156
|
------------
1,565,936
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stocks
|
1,242,520
|
1,112,442
|
788,330
|
|
|
|
|
|
|
|
|
Trade debtors
|
2,492,657
|
2,012,500
|
2,259,929
|
|
|
Other debtors, deposits & prepayments
|
7,230
|
7,230
|
12,130
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash & bank balances
|
5,996
|
87,806
|
42,791
|
|
|
|
|
|
|
|
|
Tax recoverable
|
51,543
|
47,480
|
38,097
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS
|
------------
3,799,946
|
------------
3,267,458
|
------------
3,141,277
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
Trade creditors
|
1,255,013
|
777,823
|
1,288,265
|
|
|
Other creditors & accruals
|
292,045
|
396,854
|
257,797
|
|
|
Hire purchase & lease creditors
|
109,354
|
94,014
|
64,008
|
|
|
Bank overdraft
|
770,482
|
1,580,459
|
981,551
|
|
|
Short term borrowings/Term loans
|
65,994
|
18,002
|
12,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bill & acceptances payable
|
886,638
|
261,380
|
368,125
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owing to director
|
224,721
|
232,722
|
281,722
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
------------
3,604,247
|
------------
3,361,254
|
------------
3,254,023
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
------------
195,699
|
------------
<93,796>
|
------------
<112,746>
|
|
TOTAL NET ASSETS
|
------------
1,726,537
==========
|
------------
1,501,360
==========
|
------------
1,453,190
==========
|
|
|
|
|
|
|
|
FINANCED BY:
|
|
|
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
Ordinary share capital
|
374,500
|
374,500
|
374,500
|
|
|
|
|
|
|
|
TOTAL SHARE CAPITAL
|
------------
374,500
|
------------
374,500
|
------------
374,500
|
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retain profit/(Accumulated loss) carried forward
|
816,333
|
776,740
|
754,435
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL RESERVES
|
------------
816,333
|
------------
776,740
|
------------
754,435
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
------------
1,190,833
|
------------
1,151,240
|
------------
1,128,935
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
|
|
|
|
|
Long term loans
|
286,292
|
51,817
|
68,935
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hire purchase creditors
|
218,412
|
254,303
|
213,320
|
|
|
Deferred taxation
|
31,000
|
44,000
|
42,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LONG TERM & DEFERRED LIABILITIES & PROVISIONS
|
------------
535,704
|
------------
350,120
|
------------
324,255
|
|
|
------------
|
------------
|
------------
|
|
|
1,726,537
|
1,501,360
|
1,453,190
|
|
|
==========
|
==========
|
==========
|
|
|
|
|
|
|
FINANCIAL RATIOS
|
ANTA
INDUSTRIAL PARTS SDN BHD
|
|
As
At 31-December-2009
|
|
|
|
|
|
|
|
2009
|
2008
|
2007
|
|
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
|
|
Cash
|
5,996
|
87,806
|
42,791
|
|
|
Net Liquid Funds
|
<830,480>
|
<1,510,655>
|
<951,315>
|
|
|
Net Liquid Assets
|
<1,046,821>
|
<1,206,238>
|
<901,076>
|
|
|
Net Current Assets/(Liabilities)
|
195,699
|
<93,796>
|
<112,746>
|
|
|
Net Tangible Assets
|
1,726,537
|
1,501,360
|
1,453,190
|
|
|
Net Monetary Assets
|
<1,582,525>
|
<1,556,358>
|
<1,225,331>
|
|
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
Total Borrowings
|
1,450,534
|
1,998,595
|
1,340,369
|
|
|
Total Liabilities
|
4,139,951
|
3,711,374
|
3,578,278
|
|
|
Total Assets
|
5,330,784
|
4,862,614
|
4,707,213
|
|
|
Net Assets
|
1,726,537
|
1,501,360
|
1,453,190
|
|
|
Net Assets Backing
|
1,190,833
|
1,151,240
|
1,128,935
|
|
|
Shareholders" Funds
|
1,190,833
|
1,151,240
|
1,128,935
|
|
|
Total Share Capital
|
374,500
|
374,500
|
374,500
|
|
|
Total Reserves
|
816,333
|
776,740
|
754,435
|
|
|
|
|
|
|
|
LIQUIDITY(Times)
|
|
|
|
|
|
Cash Ratio
|
0
|
0.03
|
0.01
|
|
|
Liquid Ratio
|
0.71
|
0.64
|
0.72
|
|
|
Current Ratio
|
1.05
|
0.97
|
0.97
|
|
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
|
Stock Ratio
|
51
|
50
|
41
|
|
|
Debtors Ratio
|
101
|
91
|
116
|
|
|
Creditors Ratio
|
51
|
35
|
66
|
|
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
Gearing Ratio
|
1.22
|
1.74
|
1.19
|
|
|
Liabilities Ratio
|
3.48
|
3.22
|
3.17
|
|
|
Times Interest Earned Ratio
|
2.77
|
2.92
|
3.52
|
|
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
Operating Profit Margin
|
0.75
|
0.69
|
0.67
|
|
|
Net Profit Margin
|
0.44
|
0.27
|
0.02
|
|
|
Return On Net Assets
|
6.13
|
5.64
|
4.57
|
|
|
Return On Capital Employed
|
3.96
|
2.65
|
2.64
|
|
|
Return On Shareholders' Funds/Equity
|
3.32
|
1.94
|
0.10
|
|
|
Dividend Pay Out Ratio (Times)
|
0
|
0
|
0
|
|
|
|
|
|
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
|
Contingent Liabilities
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
|
|
