|
* Adopted abbreviations : SC - Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
891192-D
|
|
COMPANY NAME
|
:
|
AZAN EXIM SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
01/03/2010
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
2758-B, JALAN CHANGKAT PERMATA, TAMAN PERMATA, 2ND FLOOR, 53100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 4590-1D,1E, BATU 4 1/2 JALAN 2/12 OFF JALAN IPOH KG. BATU BATU
MUDA, 51100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-6250 7200
|
|
FAX.NO.
|
:
|
03-40446758
|
|
WEB SITE
|
:
|
http://azanexim.com/
|
|
CONTACT PERSON
|
:
|
SYED ASIF SYED ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
172
|
|
PRINCIPAL ACTIVITY
|
:
|
SUPPLYING TOWELS, SHIRTS, BLOUSES AND BED LINEN
|
|
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 1,000,000 CASH OF MYR 1.00 EACH.
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
7 [2011]
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MATURE
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD1,645
|
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) supplying towels, shirts,
blouses and bed linen.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The major shareholder(s) of the SC are
shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MR. AIDI BAHAR BIN MUSTAFA +
|
18A, JALAN 59/10, TAMAN KOPERASI POLIS FASA 2, 68100 BATU CAVES,
SELANGOR, MALAYSIA.
|
630922-05-5283
7127085
|
550,000.00
|
|
SYED ASIF AHMED S/O SYED SABIH AHMAED +
|
LOT 4590-1B, KAMPUNG BATU MUDA, JALAN 2/12 OFF JALAN IPOH, 51100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
KG011326
|
225,000.00
|
|
NAJAMUL HASSAN ANWAR HUSSAIN
|
|
BD6802401
|
225,000.00
|
|
|
|
|
---------------
|
|
|
|
|
1,000,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
SYED ASIF AHMED S/O SYED SABIH AHMAED
|
|
Address
|
:
|
LOT 4590-1B, KAMPUNG BATU MUDA, JALAN 2/12 OFF JALAN IPOH, 51100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
KG011326
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
01/03/2010
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. AIDI BAHAR BIN MUSTAFA
|
|
Address
|
:
|
18A, JALAN 59/10, TAMAN KOPERASI POLIS FASA 2, 68100 BATU CAVES,
SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
7127085
|
|
New IC No
|
:
|
630922-05-5283
|
|
Date of Birth
|
:
|
22/09/1963
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
01/03/2010
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
SYED ASIF SYED
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. CHE ADERI BIN CHE AHMAD
|
|
|
IC / PP No
|
:
|
A3427047
|
|
|
New IC No
|
:
|
760512-03-5381
|
|
|
Address
|
:
|
478, JALAN E10, TAMAN MELAWATI, 53100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, 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 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
|
Percentage
|
:
|
30%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
70%
|
|
Import Countries
|
:
|
PAKISTAN,INDIA
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
90%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
10%
|
|
Export Market
|
:
|
SOUTH AFRICA
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
|
OPERATIONS
|
Services
|
:
|
SUPPLYING TOWELS, SHIRTS, BLOUSES AND BED LINEN
|
|
|
|
|
|
Competitor(s)
|
:
|
ASTRA UNIFORMS
TRADING SDN BHD
SUNGAIBUTT INDUSTRIES (M) SDN BHD
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2011
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
7
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) supplying towels, shirts,
blouses and bed linen.
The SC is engaged in supplying of textile product such as:
1) Towels - Hotel Towels, Face Towel, Hand Towel, Bath Towel, Bath Mats,
Stripe Beach Towel, Bar Mops, Wash Cloths,Fitness Towels, Gym Towels and
Jacquard Terry Towels
2) Shirts
3) Blouses
4) Bags
5) Bedsheets
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
|
:
|
03-6250 7200
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
, , , .
|
|
Current Address
|
:
|
LOT 4590-1D,1E, BATU 4 1/2 JALAN 2/12 OFF JALAN IPOH KG. BATU BATU
MUDA, 51100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts. However they have rejected our request in view
of the confidentiality of the documents.
|
|
|
Other Investigations
We contacted one of the SC's Director Mr Syed Asif and he provided some
information regarding to the SC.
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
|
|
172 : Manufacture of Other Textiles
|
|
|
|
|
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 2010 as a private limited company, the SC is
principally engaged in supplying of towels, shirts, blouses and bed linen.
Having been in the industry for only 1 year, the SC is growing fast with a
paid up capital of RM1 million. With this paid up capital, the SC is
allowed to expand its business comfortably.
|
|
Besides catering to the local market, the SC also exports to South Africa.
As it concentrates in both local and overseas markets, we believe that the
SC has the ability to lower its business risk to meet any uncertainties in
the local economy. However, being a newly incorporated company, the SC
should place more efforts in stabilising its market position. Currently,
the SC has staff of 7 and its management capability is average.
|
|
The SC being newly incorporated and has yet to file its financial statement
with the Registrar Office.
|
|
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.
|
|
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. As a
new players, the SC faces stiff competition from other players in the same
field.
|
|
In view of the above, we only recommend credit be granted to the SC under
guarantee.
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|
