|
* Adopted abbreviations : SC - Subject Company (the company
enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
523336-D
|
|
COMPANY NAME
|
:
|
TENSIONED FABRIC STRUCTURE SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
12/08/2000
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
REGISTERED ADDRESS
|
:
|
33, JALAN PASAR 1/21, 46000 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
30, JALAN MAWAR, TAMAN P RAMLEE, SETAPAK, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
TEL.NO.
|
:
|
03-40217197
|
|
FAX.NO.
|
:
|
03-40224346
|
|
EMAIL
|
:
|
enquiry@tfs.com.my
|
|
WEB SITE
|
:
|
www.teguhkanvas.com.my
|
|
CONTACT PERSON
|
:
|
NG CHONG KIAT ( MANAGING DIRECTOR )
|
|
INDUSTRY CODE
|
:
|
36999
|
|
PRINCIPAL
ACTIVITY
|
:
|
MANUFACTURING OF
ALL KINDS OF CANVAS, CANOPY AND INDUSTRIAL FABRIC PRODUCTS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 300,000.00
DIVIDED INTO
ORDINARY SHARES 300,000 CASH OF MYR 1.00 EACH.
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
STAFF STRENGTH
|
:
|
60 [2011]
|
|
BANKER (S)
|
|
MALAYAN BANKING BHD
|
|
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
|
:
|
AVERAGE GROWTH
|
|
PROPOSED
CREDIT LIMIT
|
:
|
USD1,184
|
HISTORY / BACKGROUND
The SC is an exempt private company which
is allowed to have a minimum of two and a maximum of twenty shareholders and
all the shareholders must be individuals. An exempt company is a type of private
limited company. 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, suing or be sued by other companies. The SC is
governed by the Companies Act, 1965 and must file in its annual return. The
SC need not file in its financial statements but it has to file in a document
duly signed by its director in charge of its finance, the secretary and its
auditor stating that the SC is able to meet all its obligations as and when
they fall due. Although the SC is not required to file in its financial
statements, it also has to prepare its financial account which must be
presented at the Annual General Meeting.
The SC is principally engaged in the (as a / as an) manufacturing of all
kinds of canvas, canopy and industrial fabric products.
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. NG CHONG YOW +
|
128-5-4, SRI PELANGI CONDOMINIUM, JALAN GENTING, SETAPAK, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
701230-10-5441
A1806198
|
150,000.00
|
|
MR. NG CHONG KIAT +
|
30, JALAN MAWAR, TAMAN P RAMLEE, SETAPAK, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
691118-10-6245
A1442375
|
150,000.00
|
|
|
|
|
---------------
|
|
|
|
|
300,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. NG CHONG KIAN
|
|
Address
|
:
|
30, JALAN MAWAR, TAMAN P RAMLEE, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
New IC No
|
:
|
730510-07-5665
|
|
Date of Birth
|
:
|
10/05/1973
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
12/08/2000
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. NG CHONG YOW
|
|
Address
|
:
|
128-5-4, SRI PELANGI CONDOMINIUM, JALAN GENTING, SETAPAK, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
A1806198
|
|
New IC No
|
:
|
701230-10-5441
|
|
Date of Birth
|
:
|
30/12/1970
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
12/08/2000
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. NG CHONG KIAT
|
|
Address
|
:
|
30, JALAN MAWAR, TAMAN P RAMLEE, SETAPAK, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
IC / PP No
|
:
|
A1442375
|
|
New IC No
|
:
|
691118-10-6245
|
|
Date of Birth
|
:
|
18/11/1969
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
24/02/2006
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
NG CHONG KIAT
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SUSAN
|
|
|
Position
|
:
|
HUMAN RESOURCE MANAGER
|
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. STEVE WAN SIEW KUM
|
|
|
IC / PP No
|
:
|
A3469897
|
|
|
New IC No
|
:
|
760623-14-5057
|
|
|
Address
|
:
|
33, JALAN PASAR 1/21, PETALING
JAYA OLD
TOWN, 46000 PETALING JAYA, SELANGOR, MALAYSIA.
|
BANKING
Banking relations are maintained principally with :
|
1)
|
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 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
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
SINGAPORE, ASIA
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
TELEGRAPHIC TRANSFER (TT),LETTER OF CREDIT (LC),CHEQUES
|
|
Type of Customer
|
:
|
DEALERS,END USERS
|
OPERATIONS
|
Products manufactured
|
:
|
|
CANVAS, CANOPY AND INDUSTRIAL FABRIC PRODUCTS
|
|
|
|
|
|
|
Brand Name
|
:
|
TEGUH, TENSIONED
|
|
|
|
|
|
Competitor(s)
|
:
|
AUO SUNPOWER
SDN BHD
DAXON TECHNOLOGY SDN BHD
MEGAN MEDIA HOLDINGS BHD
POLY GLASS FIBRE (M) BHD
WD MEDIA (MALAYSIA)
SDN
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE)
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
60
|
50
|
70
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing of all
kinds of canvas, canopy and industrial fabric products.
The SC offers a wide range of shade and shelter products for various
occasions, from little canopies, umbrellas, free span aluminium structures to
special tensioned membrane.
Besides that, the SC also provides services as installation, designing,
engineering & fabrication for its customers.
The SC provides its services for walkways, open air hawkers stall, night
& morning market, side walk cafe, taxi stand, car park and etc.
The SC's products are durable, versatile and can withstand high wind loads.
These products are available in various shapes & sizes such as Octagonal,
Hexagonal, Square and Conical.
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
|
:
|
60-3-61862198/40217197
|
|
Current Telephone Number
|
:
|
03-40217197
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 2489-10, BATU 6, JALAN GOMBAK, 63000 BATU CAVES KUALA LUMPUR
|
|
Current Address
|
:
|
30, JALAN MAWAR, TAMAN P RAMLEE, SETAPAK, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the staff from the Admin Department. She provided some
information on the SC.
The address provided is the SC's factory address.
FINANCIAL COMMENTS
The SC is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for the
information of the public. Therefore, 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
|
|
|
36999 : Other manufacturing n.e.c.
|
|
|
|
|
INDUSTRY :
|
MANUFACTURING
|
|
Malaysia's manufacturing sales continued to register double digit growth with
a year-on-year increase of 19.6% or RM7.03billion in April 2010 to reach
RM42.9 billion from RM35.9 billion in the same month last year.
|
|
The sales value in March 2010 was a revised 26.4% year-on-year to post
RM46.1 billion.
|
|
Month-on-month, the sales value in April however declined 7.0% or RM3.2
billion.
|
|
For the first four months of the year 2010, the sales value of the
manufacturing sector continued to register a strong growth of 22.9% or
RM32.1 billion to reach RM172.5billion.
|
|
The year-on-year expansion was mainly driven by significant increases in
five major manufacturing industries - refined petroleum products (17.4%),
other basic industrial chemicals except fertilizers and nitrogen compounds
(49.9%); television and radio receivers, sound or video recording or
reproducing apparatus, and associated goods (41.6%); iron and steel
products (47.3%) and motor vehicles (56.2%).
|
|
Due to the growth in sales, number of employees increase correspondingly.
The total employees in March 2010 recorded a revised positive 0.5%
year-on-year to 959,412 persons and the total workers employed in the
manufacturing sector in April 2010 also increased by 25,302 persons or 2.7%
compared with the same month last year.
|
|
The total number of employees engaged in the manufacturing sector in April
2010 increased 1.0% or 9,361 persons to 968,773 persons, compared with the
previous month.
|
|
For the first four months of the year, the number of workers employed in
the manufacturing sector also increased by 1.0% or 9,361 to 968,773
persons.
|
|
Productivity or average sales value per employee in April 2010 added 16.5%
to reach RM44,283 compared with the same month last year.
|
|
Productivity in March 2010 was a revised positive 25.7% year-on-year to register
RM48,059.
|
|
However, month-on-month, the productivity recorded a drop of 7.9%.
|
|
For the January-April 2010, the productivity in the manufacturing sector
was higher by 21.7% to register RM178,084.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
COMMENTS &
RECOMMENDATION
|
Incorporated in 2000 as an exempt private company, the SC is
principally engaged in the manufacturing of all kinds of canvas, canopy and
industrial fabric products. Having been in the industry for over a decade,
the SC should have established rapport with its customers and suppliers to
support its growth. However, with a small paid up capital of RM300,000, the
SC should put more efforts on its business to gain higher market share
while competing aggressively in the market.
|
|
Our investigation revealed that the SC serves both local and overseas
clients. Penetrating into the overseas countries such as Singapore and Asia
countries has well diversified its business risk and at the same time added
strength to its capabilities in capturing higher market shares. With staff
strength of 60 employees, the SC's daily business operations are overseen
by its Managing Director, Ng Chong Kiat. Overall, the management capability
of the SC is average.
|
|
As the SC is registered as an Exempt Private company, it is not required to
file financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
Investigation revealed that the SC's raw materials are sourced from both
local and overseas suppliers. Hence, the SC is subjected to currency
fluctuation risk and high operating costs.
|
|
The SCis clear of any litigation action.
|
|
The industry remains robust with continuing strong global demand for its
products. With the promising outlook of the industry performance, the SC's
business potential should be favourable. Nonetheless, the SC should adopt
better competitive strategies in order to sustain its business position and
to compete with other well established players in the same industry.
|
|
In view of the above, we recommend credit be proceeded to the SC with
guarantee.
|
|
