|
* Adopted abbreviations : SC - Subject Company (the company
enquired by you), N/A - Not
Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
866749-H
|
|
COMPANY NAME
|
:
|
FASTZIP SOLUTIONS SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
31/07/2009
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
SUITE 2, LOBBY
A, WISMA LEOPAD, 9 JALAN TUN SAMBATHAN, PENTHOUSE, 50470 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
NO 886749-N, NO.
2, 2ND FLOOR, JALAN KP 1/6 KAJANG PRIMA, 43000 KAJANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-87367786
|
|
FAX.NO.
|
:
|
03-87367786
|
|
CONTACT PERSON
|
:
|
PERWEZ AHMED (
MANAGING DIRECTOR )
|
|
INDUSTRY CODE
|
:
|
17299
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURER
OF MARBLE, ONYX HANDICRAFT, TEXTILE FABRICS AND WOVEN CONSULTANT
|
|
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 350,000 CASH AND 150,000 OTHERWISE OF MYR 1.00 EACH.
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
8 [2011]
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
WEAK
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
HIGH
|
|
GENERAL REPUTATION
|
:
|
POOR
|
|
INDUSTRY OUTLOOK
|
:
|
MATURE
|
|
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) manufacturer of marble,
onyx handicraft, textile fabrics and woven consultant.
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
|
|
SHAHEEN ALI
KHAN +
|
C-7-9 SEGAR RIA FLAT, TAMAN BUKIT SEGAR, 56100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
QU4104261
|
244,999.00
|
|
MS.MOHAINIE BINTI
SAFIE
|
|
550904-08-5956
|
104,999.00
|
|
MS. FADZILAH
BINTI YAAKUB +
|
27 C JALAN KUALA PILAH AMPANGAN, 70400 SEREMBAN, NEGERI SEMBILAN,
MALAYSIA.
|
780217-05-5388
|
37,500.00
|
|
MASOOD ALAM +
|
402 TINGKAT 4 BLOK H 7, RUMAH PANGSA, PANDAN JAYA, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
BD1757161
|
37,500.00
|
|
MR. MUHAMMAD
ASLAM +
|
402 TINGKAT 4, BLOCK H 7, RUMAH PANGSA, PANDAN JAYA, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
AG1803322
|
37,500.00
|
|
MR. PERWEZ
AHMED +
|
P-11-4 JALAN PANDAN CAHAYA 2/3 A, 68000 AMPANG, SELANGOR, MALAYSIA.
|
CH1150572
|
37,500.00
|
|
MS.SALASIAH
BINTI MOHD SAID
|
|
720125-10-5750
|
1.00
|
|
MS.ASIAH BINTI
OSMAN
|
|
600123-10-6294
|
1.00
|
|
|
|
|
---------------
|
|
|
|
|
500,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. FADZILAH BINTI YAAKUB
|
|
Address
|
:
|
27 C JALAN KUALA PILAH AMPANGAN, 70400 SEREMBAN, NEGERI SEMBILAN,
MALAYSIA.
|
|
New IC No
|
:
|
780217-05-5388
|
|
Date of Birth
|
:
|
17/02/1978
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
10/02/2011
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. MUHAMMAD ASLAM
|
|
Address
|
:
|
402 TINGKAT 4, BLOCK H 7, RUMAH PANGSA, PANDAN JAYA, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
AG1803322
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
24/01/2011
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MASOOD ALAM
|
|
Address
|
:
|
402 TINGKAT 4 BLOK H 7, RUMAH PANGSA, PANDAN JAYA, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
BD1757161
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
31/01/2011
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. PERWEZ AHMED
|
|
Address
|
:
|
P-11-4 JALAN PANDAN CAHAYA 2/3 A, 68000 AMPANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
CH1150572
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
14/01/2011
|
DIRECTOR 5
|
Name Of Subject
|
:
|
SHAHEEN ALI KHAN
|
|
Address
|
:
|
C-7-9 SEGAR RIA FLAT, TAMAN BUKIT SEGAR, 56100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
QU4104261
|
|
Date of Appointment
|
:
|
12/08/2009
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
PERWEZ AHMED
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. RAVENDRAN S/O SIVALINGAM
|
|
|
|
|
|
|
|
New IC No
|
:
|
570925-10-6275
|
|
|
Address
|
:
|
32 SS 5C/14, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
2)
|
Company Secretary
|
:
|
MR. SURJIT SINGH S/O BACHAN SINGH
|
|
|
|
|
|
|
|
New IC No
|
:
|
500912-71-5019
|
|
|
Address
|
:
|
19 JALAN JUJUR 1/5, TAMAN BAKTI, 68000 AMPANG, 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
|
SOURCES OF RAW MATERIALS:
|
|
|
Local
|
:
|
YES
|
Percentage
|
:
|
40%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
60%
|
|
Import Countries
|
:
|
TURKEY,INDIA
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
60%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
40%
|
|
Export Market
|
:
|
SOUTH AFRICA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,LETTER OF CREDIT (LC)
|
OPERATIONS
|
Products manufactured
|
:
|
|
MARBLE, ONYX HANDICRAFT, TEXTILE FABRICS
|
|
|
|
|
|
|
Competitor(s)
|
:
|
EMAS KIARA
INDUSTRIES BHD
FIBERTEX PERSONAL CARE SDN BHD
HUALON CORPORATION (M) SDN BHD
PCCS GROUP BHD
YEN GLOBAL BHD
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2011
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
8
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturer of marble,
onyx handicraft, textile fabrics and woven consultant.
The SC refuse to provide detail information regarding to its business
operation.
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
|
:
|
03-87367786
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO 886749-N, NO. 2, 2ND FLOOR, JALAN KP 1/6 KAJANG PRIMA 43000
|
|
Current Address
|
:
|
NO 886749-N, NO. 2, 2ND FLOOR, JALAN KP 1/6 KAJANG PRIMA, 43000
KAJANG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the SC Director Mr Masood Alam and he provided some
information regarding to the SC.
However, he refuse to provide the SC banker information.
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)
|
INDUSTRY COMMENTS
|
MSIC CODE
|
|
7299 : Manufacture of other textiles n.e.c.
|
|
|
|
|
INDUSTRY :
|
TEXTILE
|
|
The Malaysian textile industry is in a quandary and slowly losing out to
other textile-producing countries in the region like Cambodia, China,
Indonesia, Thailand and Vietnam. Malaysian Knitting Manufacturers
Association (MKMA) viewed that in order to remain competitive and relevant,
it needs support from the Government and the financial sector. Without this
support, the industry might not be able to survive and will soon become a
sunset industry.
|
|
Textile industry remained labour-intensive and the Government must admit
that companies were largely dependent on foreign workers as they were
having problems hiring locals. If the Government did not provide long-term
solutions, local textile companies would have no choice but to relocate to
other countries. Although production cost was rising in China, the country
was huge, offered a ready workforce and companies could operate in the
second- and third-tier cities. Government always told industries to
automate, it must remember that certain production procedures still
required the human touch. Moreover, it was not easy for textile companies
to secure loans to invest in automation and technology, as local banks
already had the notion that the industry was a sunset industry.
|
|
However, this perception is disputed as the country's export of textiles
and apparel was on the uptrend in the last 10 years; although the figure
declined to RM8.93bil last year from RM10.49bil in 2008 due to the global
economic recession. The outlook for the textile industry is still positive
as orders have started coming back since the last quarter of 2009 and are
expected to pick up in the second half of the year.
|
|
Local textile makers were not really perturbed by the difficulty in
securing loans for their business expansion and some of them had even
diversified their range of products. These include producing fire-retardant
and ultraviolet-protective textile and fabrics for the non-apparel segment
such as the upholstery for furniture, automotives and aeroplanes.
|
|
In the view of above, Government should be more proactive and emulate the
steps taken by the governments of the countries mentioned in supporting
their textile industry. For example, there is a bill in the United States
requiring the health, military and postal departments there to use only
locally-made fabrics for their staff uniforms. Therefore, Malaysia should
do the same and the move could include the police, immigration and customs
departments, and uniforms for school children and participants of the
National Service programme. If such a bill were passed by parliament, not
only the textile industry would benefit but so would the small and medium-scale
enterprises, especially those in the support and service sectors. Although
local textile makers were known for their reliability and quality products
internationally, that would not guarantee their survival as other countries
were fast catching up.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Mature
|
COMMENTS & RECOMMENDATION
|
Incorporated in 2009 as a private limited company, the SC is
principally engaged in the manufacturer of marble, onyx handicraft, textile
fabrics and woven consultant. Having been in the industry for 2 years, the
SC has yet to establish its clientele base and mainly depends on a few
major clients. With a small issued and paid up capital of RM500,000, the SC
may face difficulties in its attempt to further expand its business in the
future.
|
|
Besides catering to the local market, the SC also exports to oversea
countries such as South Africa has well diversified its business risk.
However, as a relatively new company, the SC may face fierce competition
from other large corporation. With staff strength of 8 employees, the SC's
daily business operations are overseen by its Director. The SC's management
capability is considered weak and more efforts are expected from the
management in order to capture higher market shares.
|
|
No financial accounts are available for analysis. As such, we are not able
to comment on the SC's current financial standing.
|
|
Investigation revealed that the SC sources its raw materials from both
local and overseas countries. About 60% of the SC's products are imported from
Turkey and India. As a result, the SC is exposed to high foreign currency
fluctuation risk. Besides that, due to its early establishment, the SC may
deal with limited number of suppliers.
|
|
Based on our databank, the SC is clear of any litigation action
|
|
The textile industry has reached its maturity stage and only enjoying a
marginal growth. Being a young and small player in the industry, the SC
will face fierce competition from other well-established players. It is
highly dependent on the SC ability to deliver good quality products on time
with competitive pricing. Hence, the SC should embrace new technologies and
best practices to increase productivity, efficiency and adapt the
ever-changing market in order to sustain its market shares.
|
|
Based on the above unfavourable condition, we regard granting credit to the
SC to be quite risky. Hence, credit is not recommended.
|
|
|
|
