* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
SA0106206-D
|
|
COMPANY NAME
|
:
|
PRESTIMA JAYA TRADING
|
|
COMMENCEMENT DATE
|
:
|
04/12/2008
|
|
REGISTRATION DATE
|
:
|
04/12/2008
|
|
EXPIRY DATE
|
:
|
05/12/2011
|
|
BUSINESS CONSTITUTION
|
:
|
SOLE PROPRIETORSHIP
|
|
|
|
|
|
BUSINESS ADDRESS
|
:
|
16B, JALAN BATU UNJUR 1, TAMAN BAYU PERDANA, 41200 KLANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-33248905
|
|
FAX.NO.
|
:
|
03-33248912
|
|
CONTACT PERSON
|
:
|
MOHD HILMI BIN RAZALI ( OWNER )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51311
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF TEXTILES AND OTHER RELATED PRODUCTS
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2011]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
|
|
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
WEAK
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
HIGH
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MATURE
|
|
PROPOSED CREDIT LIMIT
|
:
|
NIL
|
HISTORY / BACKGROUND
The SC commenced its business on 04/12/2008 as a SOLE PROPRIETORSHIP.
The SC is a sole proprietorship, that is, it has a single owner whose
liabilities are unlimited. In case the SC is unable to meet all its
obligations, the creditors can claim on the owner's personal assets. The sole
proprietorship ceases upon the death of the owner or any time at the
discretion of the owner. The ownership is non-transferable. Under the law,
the SC has to file in its information with Registrar of Business but it is
not required to file in its financial statements.
The SC is principally engaged in the (as a / as an) trading of textiles and
other related products.
The SC is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The owner of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
|
MR. MOHD HILMI BIN RAZALI
|
23, JALAN SIAKAP 3, 17/39C, , 40200 SHAH ALAM, SELANGOR, MALAYSIA.
|
820716-11-5529
|
100.00
|
|
|
|
|
---------------
|
|
|
|
|
100.00
|
|
|
|
|
============
|
+ Also Director
OWNERS
OWNER(S) 1
|
Name Of Subject
|
:
|
MR. MOHD HILMI BIN RAZALI
|
|
Address
|
:
|
23, JALAN SIAKAP 3, 17/39C, 40200 SHAH ALAM, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
820716-11-5529
|
|
Date of Birth
|
:
|
16/07/1982
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
04/12/2008
|
|
Shareholding
|
:
|
100%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of Subject
|
:
|
MOHD HILMI BIN RAZALI
|
|
|
Position
|
:
|
OWNER
|
|
|
|
|
|
No Auditor found in our databank
BANKING
Banking relations are maintained principally with :
|
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our 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.
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
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Import Countries
|
:
|
INDIA,CHINA
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
SINGAPORE
|
|
Credit Term
|
:
|
30 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CASH,CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
TEXTILES AND GARMENT INDUSTRIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
TEXTILES AND OTHER RELATED PRODUCTS
|
|
|
|
|
|
Competitor(s)
|
:
|
AMBIGA
PALAYACAT CO
CHOP ING CHIONG
GOODWILL TRADING CO
TOH CHUAN BEE
V.K.N.SIVASAMY & BROTHERS
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
5
|
5
|
3
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of textiles and
other related products.
The SC offers a wide range of textiles including printed and non printed
textiles.
The SC's textiles are made from Chiffon fabric, Cotton fabric, Furnishing
fabric, Non woven fabric, Woven fabric, Yarn dyed fabric and others.
Besides that the SC also provides transport services to its customers
doorstep.
We were informed that the SC has a warehouse which is located at the address
as below :
Lot 15017, Batu 5 Kampung Johan Setia,
Jalan Langat,41200 Klang, Selangor.
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
|
:
|
03-33248905
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
16B, JALAN BATU UNJUR 1, TAMAN BAYU
PERDANA, 41200, KLANG, SELANGOR.
|
|
Current Address
|
:
|
16B, JALAN BATU UNJUR 1, TAMAN BAYU PERDANA, 41200 KLANG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
We contacted one of the Senior staff from the SC and she provided some
information on the SC.
FINANCIAL COMMENTS
We are unable to
comment on the SC financial position as the SC is not required by the law to
file its financial statement in the Registrar of Business.
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
|
|
51311 : Wholesale of textiles, clothing, house linens, towels and
blankets
|
|
|
|
|
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.
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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.
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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.
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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.
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OVERALL INDUSTRY OUTLOOK : Mature
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COMMENTS &
RECOMMENDATION
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Established in 2008, the SC is a sole proprietorship with core business in the
trading of textiles and other related products. Having been in the business
for only 2 years, the SC has yet to establish its clientele base and mainly
depends on a few major clients. The SC's business position in the market is
not stable.
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Besides catering to the local market, the SC also exports to Singapore.
The commercial risk of the SC is high as it has yet to build up reputation
in the industry due to its early establishment. Moreover, there are a large
number of similar players in the same field. Without proper business
strategies, the business performance of the SC may be eroded. To date, the
SC has a total work force of 5 employees. Without strong management team,
the SC's management capability considered as weak.
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As the SC is registered as a sole proprietorship, its financial statement
are not available for analysis. As such, we are unable to ascertain the
SC's financial health.
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Being import oriented, all the SC's supplies are imported from China and India. As such, it is likely to
be exposed to currency fluctuation risk and high operating costs which in
turn may impair its profitability.
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The industry demonstrates downward trend and the immediate outlook for the
industry is uncertain. If the SC fail to anticipate or timely respond to
changes in the markets, the unfavourable outlook of the industry would
adversely affect the SC's operating results as its market shares would
likely to fall.
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Based on the above unfavourable condition, we regard granting credit to the
SC to be quite risky. Hence, credit is not recommended.
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