* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
111603-H
|
|
COMPANY NAME
|
:
|
WELDING INDUSTRIES (MALAYSIA)
SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
15/12/1983
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
9A PERSIARAN GREENTOWN 7, GREENTOWN BUSINESS CENTRE, 30450 IPOH, PERAK,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
16, JALAN JOHAN 1/2, KAWASAN PERINDUSTRIAN PENGKALAN II, 31550
PUSING, PERAK, MALAYSIA.
|
|
TEL.NO.
|
:
|
05-3668828/9688
|
|
FAX.NO.
|
:
|
05-3668328
|
|
EMAIL
|
:
|
wim@wim.com.my
|
|
WEB SITE
|
:
|
www.wim.com.my
|
|
CONTACT PERSON
|
:
|
LEONG KENG WAN ( MANAGING DIRECTOR )
|
|
|
|
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INDUSTRY CODE
|
:
|
29220
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURING OF WELDING EQUIPMENT
|
|
AUTHORISED CAPITAL
|
:
|
MYR
5,000,000.00 DIVIDED INTO
ORDINARY SHARE 5,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR
2,450,000.00 DIVIDED INTO
ORDINARY SHARES 350,004 CASH AND 2,099,996 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
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SALES
|
:
|
N/A
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NET WORTH
|
:
|
N/A
|
|
|
|
|
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STAFF STRENGTH
|
:
|
200 [2011]
|
|
BANKER (S)
|
:
|
|
EON BANK
BHD
PUBLIC BANK BHD
UNITED OVERSEAS BANK (MALAYSIA)
BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
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PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
USD29,819
|
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 welding
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
|
|
MR. LEONG KENG WAN +
|
33, JALAN BATIK 9, TAMAN SIFAR, 31650 IPOH,
PERAK, MALAYSIA.
|
501024-02-5321
3931676
|
1,324,400.00
|
|
MR. LEONG KENG CHIEW +
|
1 PERSIARAN BUNGA SAROJA 7, TAMAN MELOR, 31650 IPOH,
PERAK, MALAYSIA.
|
530809-02-5359
4624577
|
441,000.00
|
|
MR. LEONG KENG CHAN +
|
LOT 181, LINGKARAN MERU VALLEY 2, 30020 IPOH,
PERAK, MALAYSIA.
|
481127-02-5011
7670413
|
330,750.00
|
|
MR. LEONG KENG HOOI +
|
20 LEACH EVERGREEN, TAMAN BUNGA RAYA, 31650 IPOH,
PERAK, MALAYSIA.
|
561006-02-5365
8243682
|
330,750.00
|
|
MR. LEONG KENG FOON
|
|
660404-02-6009
A0386041
|
23,100.00
|
|
|
|
|
---------------
|
|
|
|
|
2,450,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. LEONG KENG CHAN
|
|
Address
|
:
|
LOT 181, LINGKARAN MERU VALLEY 2, 30020 IPOH,
PERAK, MALAYSIA.
|
|
IC / PP No
|
:
|
7670413
|
|
New IC No
|
:
|
481127-02-5011
|
|
Date of Birth
|
:
|
27/11/1948
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. LEONG KENG HOOI
|
|
Address
|
:
|
20 LEACH EVERGREEN, TAMAN BUNGA RAYA, 31650 IPOH,
PERAK, MALAYSIA.
|
|
IC / PP No
|
:
|
8243682
|
|
New IC No
|
:
|
561006-02-5365
|
|
Date of Birth
|
:
|
06/10/1956
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. LEONG KENG CHIEW
|
|
Address
|
:
|
1 PERSIARAN BUNGA SAROJA 7, TAMAN MELOR, 31650 IPOH,
PERAK, MALAYSIA.
|
|
IC / PP No
|
:
|
4624577
|
|
New IC No
|
:
|
530809-02-5359
|
|
Date of Birth
|
:
|
09/08/1953
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. LEONG KENG WAN
|
|
Address
|
:
|
33, JALAN BATIK 9, TAMAN SIFAR, 31650 IPOH,
PERAK, MALAYSIA.
|
|
IC / PP No
|
:
|
3931676
|
|
New IC No
|
:
|
501024-02-5321
|
|
Date of Birth
|
:
|
24/10/1950
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LEONG KENG WAN
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
WINSON TAN
|
|
|
Position
|
:
|
FINANCE & ADMIN MANAGER
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
EDWARD LEONG
|
|
|
Position
|
:
|
SALES MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
A L TAN & CO
|
|
Auditor' Address
|
:
|
9 PERSIARAN GREENTOWN 7, GREENTOWN BUSINESS CENTRE, 30450 IPOH, PERAK,
MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. TEAN FATT YEN
|
|
|
IC / PP No
|
:
|
4750134
|
|
|
New IC No
|
:
|
550316-08-5191
|
|
|
Address
|
:
|
27 HALA PENGKALAN BARAT 20, TAMAN PENGKALAN BARAT, 31650 IPOH, PERAK,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
2)
|
Name
|
:
|
PUBLIC BANK BHD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
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
|
:
|
19/12/1992
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM2,940,000.00
|
|
Description Of Property Affected
|
:
|
NEGATIVE PLEDGE PLOT 86 KAW PERINDUSTRIAN PENGKALAN II, JLN PUSING,
MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 16/01/1993
|
|
Registered and Numbered 4 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
19/12/1992
|
|
Description Of Charge
|
:
|
NEGATIVE PLEDGE
|
|
Amount Secured
|
:
|
RM3,540,000.00
|
|
Description Of Property Affected
|
:
|
PROPERTIES & ASSETS
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 06/02/1993
|
|
Registered and Numbered 5 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
19/05/1993
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM3,550,000.00
|
|
Description Of Property Affected
|
:
|
PLOT 86 KAW PERINDUSTRIAN PENGKALAN 11, JALAN PUSING, MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 06/08/1993
|
|
Registered and Numbered 6 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
30/07/1993
|
|
Description Of Charge
|
:
|
LOANG AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM3,550,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 1335/85 PT 64895, MK ULU KINTA
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 04/09/1993
|
|
Registered and Numbered 7 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
03/04/1995
|
|
Description Of Charge
|
:
|
LOANG AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM3,550,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 37752 PT 6016, MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 22/04/1995
|
|
Registered and Numbered 8 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
03/04/1995
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM770,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 37752 & 1335/85, PT 6016 & 64895, MK ULU KINTA
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 22/04/1995
|
|
Registered and Numbered 9 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
11/12/1995
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM1,980,000.00
|
|
Description Of Property Affected
|
:
|
HS(D)KA 37752 PT 6016 & HS(D) 43748 PT 64895, MK ULU KINTA
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
7-13 JALAN DATO MAHARAJALELA, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 27/12/1995
|
|
Registered and Numbered 10 In The Register of Charges
|
ENCUMBRANCE 8
|
Date of Creation
|
:
|
09/07/1996
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM130,000.00
|
|
Description Of Property Affected
|
:
|
PN 51175 LOT 138834, MK HULU KINTA
|
|
Name & Address Of Chargee
|
:
|
PUBLIC BANK BHD
7-13 JALAN DATO MAHARAJALELA, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/07/1995
|
|
Registered and Numbered 11 In The Register of Charges
|
ENCUMBRANCE 9
|
Date of Creation
|
:
|
09/07/1996
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
RM630,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
PUBLIC BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 12 In The Register of Charges
|
ENCUMBRANCE 10
|
Date of Creation
|
:
|
31/03/1997
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM4,000,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 37752, PT 6016, MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/04/1997
|
|
Registered and Numbered 13 In The Register of Charges
|
ENCUMBRANCE 11
|
Date of Creation
|
:
|
31/03/1997
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 37752, PT 6016, MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/04/1997
|
|
Registered and Numbered 14 In The Register of Charges
|
ENCUMBRANCE 12
|
Date of Creation
|
:
|
31/03/1997
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM4,000,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 43748, PT 64895, MK ULU KINTA
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/04/1997
|
|
Registered and Numbered 15 In The Register of Charges
|
ENCUMBRANCE 13
|
Date of Creation
|
:
|
31/03/1997
|
|
Description Of Charge
|
:
|
CHARGE
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
HS(D) KA 43748, PT 64895, MK ULU KINTA
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/04/1997
|
|
Registered and Numbered 16 In The Register of Charges
|
ENCUMBRANCE 14
|
Date of Creation
|
:
|
31/03/1997
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM5,000,000.00
|
|
Description Of Property Affected
|
:
|
FIXED CHARGE
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA)
BHD
110-112 JALAN SULTAN YUSSUF, 30000 IPOH, PERAK, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 12/04/1997
|
|
Registered and Numbered 17 In The Register of Charges
|
ENCUMBRANCE 15
|
Date of Creation
|
:
|
19/12/2002
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
NEGATIVE PLEDGE PLOT 86 KAW PERINDUSTRIAN PENGKALAN II, JLN PUSING,
MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 23 In The Register of Charges
|
ENCUMBRANCE 16
|
Date of Creation
|
:
|
02/03/2004
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
O/D
|
|
Description Of Property Affected
|
:
|
NEGATIVE PLEDGE PLOT 86 KAW PERINDUSTRIAN PENGKALAN II, JLN PUSING,
MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
UNITED OVERSEA BANK (MALAYSIA)
BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 24 In The Register of Charges
|
ENCUMBRANCE 17
|
Date of Creation
|
:
|
22/08/2005
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
NEGATIVE PLEDGE PLOT 86 KAW PERINDUSTRIAN PENGKALAN II, JLN PUSING,
MK SG TERAP
|
|
Name & Address Of Chargee
|
:
|
BANK INDUSTRI & TEKNOLOGI MALAYSIA BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 25 In The Register of Charges
|
ENCUMBRANCE 18
|
Date of Creation
|
:
|
26/10/2005
|
|
Description Of Charge
|
:
|
LOAN AGREEMENT & ASSIGNMENT
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
NEGATIVE PLEDGE PLOT 86 KAW PERINDUSTRIAN PENGKALAN II, JLN PUSING,
MK SG TERAP
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Name & Address Of Chargee
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:
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EON BANK BHD
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Form 40 Dated
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Registered and Numbered 26 In The Register of Charges
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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
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SOURCES OF RAW MATERIALS:
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Local
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:
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YES
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Overseas
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:
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YES
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CLIENTELE
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Local
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:
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YES
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Percentage
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:
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70%
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Domestic Markets
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:
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MALAYSIA
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Overseas
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:
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YES
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Percentage
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:
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30%
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Export Market
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:
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AUSTRALIA, ASIA PACIFIC, MIDDLE EAST
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Credit Term
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:
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30 - 60 DAYS
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Payment Mode
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:
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CHEQUES,TELEGRAPHIC TRANSFER (TT)
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The SC sells its products mainly to the welding industries.
OPERATIONS
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Products manufactured
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:
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WELDING EQUIPMENT - MIG, TIG, INVERTER, SPOT AND PROJECTION WELDERS,PLASMA
AND TRANSFORMER AND ETCSUBMERGED ARC WIRE AIR PLASMA
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Brand Name
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:
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WIM
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Award
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:
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1 ) MS ISO 9001 : 2000 Year :2005
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Competitor(s)
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:
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ALLSPECS ENTERPRISE SDN BHD
BT METAL (M) SDN BHD
ELITE INDUSTRIES SDN BHD
MICRO-MECHANICS TECHNOLOGY SDN BHD
VISTA TECHNOLOGIES SDN BHD
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Member(s) / Affiliate(s)
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:
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SMI ASSOCIATION OF MALAYSIAMALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE)
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Total Number of Employees:
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YEAR
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2011
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2010
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2009
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GROUP
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N/A
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N/A
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N/A
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COMPANY
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200
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200
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158
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Other Information:
The SC is principally engaged in the (as a / as an) manufacturing of welding
equipment.
The SC is principally involved in the manufacturing of welding machines and
accessories.
The SC's wide range of products include welding spot & projection welder,
inverter plasma welder, plasma cutting/welding plasma cutting, plasma welding
inverter, gas tungsten ARC welding, gas metal ARC welding, optional
accessories, foot control pedal, robotics/ special machines, multi spot
welding and etc.
The SC is equipped with the state-of-the-art computer systems facilities at
the production site.
The SC has sales office in Kuala Lumpur and Ipoh.
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 :
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Telephone Number Provided By Client
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:
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N/A
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Current Telephone Number
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:
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05-3668828/9688
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Match
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:
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N/A
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Address Provided by Client
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:
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16, JALAN JOHAN 1/2, KAWASAN PERINDUSTRIAN PENGKALAN II, 31550,
PUSING, PERAK.
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Current Address
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:
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16, JALAN JOHAN 1/2, KAWASAN PERINDUSTRIAN PENGKALAN II, 31550
PUSING, PERAK, MALAYSIA.
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Match
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:
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YES
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Latest Financial Accounts
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:
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NO
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Other Investigations
We contacted one of the staff from the Admin Department. She provided some
information on the SC.
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
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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
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Domestic Demand ( % )
|
9.0
|
6.9
|
2.9
|
4.6
|
4.8
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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
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|
Investment ( % )
|
9.3
|
0.7
|
8.0
|
8.3
|
0.6
|
|
|
|
|
|
|
|
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Balance of Trade ( MYR Million )
|
100,340
|
129,563
|
89,650
|
118,356
|
116,058
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Government Finance ( MYR Million )
|
<19,948>
|
<34,462>
|
<28,450>
|
<40,482>
|
-
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Government Finance to GDP / Fiscal Deficit ( % )
|
<3.2>
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
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Inflation ( % Change in Composite CPI)
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2.0
|
<3.3>
|
<5.2>
|
5.1
|
-
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Unemployment Rate
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3.2
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3.7
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4.5
|
3.9
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-
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Net International Reserves ( MYR Billion )
|
336
|
388
|
331
|
394
|
-
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Average Risk-Weighted Capital Adequacy Ratio ( % )
|
3.04
|
1.91
|
2.87
|
2.20
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-
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Average 3 Months of Non-performing Loans ( % )
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13.30
|
13.24
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11.08
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15.30
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-
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Average Base Lending Rate ( % )
|
6.72
|
6.72
|
5.53
|
5.70
|
-
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Business Loans Disbursed( % )
|
9.1
|
11.6
|
10.5
|
14.7
|
-
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Foreign Investment ( MYR Million )
|
33,426.0
|
23,261.4
|
22,156.8
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22,517.9
|
-
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Consumer Loans ( % )
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-
|
-
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-
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-
|
-
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|
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|
|
|
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Registration of New Companies ( No. )
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43,337
|
41,599
|
41,578
|
-
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-
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Registration of New Companies ( % )
|
13.2
|
<4.0>
|
<0.1>
|
-
|
-
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Liquidation of Companies ( No. )
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22,629
|
27,992
|
39,075
|
-
|
-
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Liquidation of Companies ( % )
|
161.5
|
23.7
|
39.6
|
-
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-
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|
|
|
|
|
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Registration of New Business ( No. )
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227,410
|
269,866
|
312,581
|
-
|
-
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Registration of New Business ( % )
|
-
|
-
|
-
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-
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-
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Business Dissolved ( No. )
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20,431
|
18,885
|
19,345
|
-
|
-
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|
Business Dissolved ( % )
|
<61.4>
|
<7.6>
|
2.4
|
-
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-
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Sales of New Passenger Cars (' 000 Unit )
|
442.9
|
497.5
|
319.4
|
369.7
|
-
|
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Cellular Phone Subscribers ( Million )
|
23.3
|
25.1
|
30.1
|
32.8
|
-
|
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Tourist Arrival ( Million Persons )
|
20.9
|
21.5
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23.6
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24.0
|
25.0
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Hotel Occupancy Rate ( % )
|
70
|
68
|
58
|
63
|
-
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Credit Cards Spending ( % )
|
20.1
|
17.1
|
12.8
|
15.1
|
-
|
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Bad Cheque Offenders (No.)
|
30,004
|
34,834
|
-
|
-
|
-
|
|
Individual Bankruptcy ( No.)
|
13,238
|
13,907
|
-
|
-
|
-
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Individual Bankruptcy ( % )
|
<2.6>
|
5.1
|
-
|
-
|
-
|
|
|
|
|
|
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|
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
|
-
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Rubber
|
1.0
|
<1.1>
|
<19.8>
|
9.9
|
-
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Forestry & Logging
|
2.8
|
<1.5>
|
<5.9>
|
<1.3>
|
-
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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
|
-
|
|
|
|
|
|
|
|
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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
|
|
29220 : Manufacture of machine tools
|
|
|
|
|
INDUSTRY :
|
MACHINERY
|
|
|
|
|
|
|
During the Ninth Malaysia Plan, greater efforts will be undertaken in the
machinery and equipment (M&E) industry to enhance domestic capability
to design and fabricate machines and tools for the mechanisation and automation
needs of the economy through the provision of incentives and financing
schemes. Promotional efforts will be intensified to attract foreign
high-technology and specialised M&E manufacturers to set up base in Malaysia.
Existing incentives for regional establishments will be improved while, new
incentive packages will be considered, including the setting up of
machinery parks within free zone facilities, with a view to making Malaysia a
centre for M&E activities in the region.
|
|
The successful establishment of the M&E industry will depend mainly on
the ability of the local engineering industry to supply parts, components
and modules as well as the availability of highly qualified technical human
resource. M&E manufacturers worldwide are turning to global outsourcing
for machinery components and modules. Thus, increased efforts will be made
to encourage local companies in the engineering support industry to upgrade
their technology and production capabilities especially to participate in
extensive outsourcing activities.
|
|
Note : The Ninth Malaysia Plan (9MP) was tabled in Parliament on March 31,
2006, is the five-year blueprints within the new National Mission policy
and implementation framework from now until 2010. Malaysia is
expected to see some structural changes and improved performance in the
economy.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth
|
COMMENTS & RECOMMENDATION
|
Established in 1983, the SC is an exempt private company with core business
in the manufacturing of welding equipment. With over 2 decades of
experience in the business, the SC has fairly rich experiences in the
business and has achieved a certain market share. A paid up capital of
RM2.45 million allows the SC to expand its business more comfortably. Under
the control of Leong's family members, we considered that the SC's business
position in the market is much dependent on their efforts.
|
|
Investigation revealed that about 30% of the SC's products are exported to
countries like Australia,
Asia Pacific and Middle East while the
remaining are absorbed by the local market. Such a wide geographical spread
has well diversified its business risk should there be a slowdown in the
local economy. Thereby it will increase its ability to compete in the
market. Hence, its future prospects seem to be fairly good. The SC is a
large entity with a work force of 200. Its business operation is considered
stable. 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 the financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
The SC sources its raw materials locally and internationally. Being involved
in import and export activities, the SC is subjected to the foreign
currency exchange risk.
|
|
The industry has reached its optimum level and is generally stable. The
potential growth for the industry is marginal and it is quite competitive.
It very much depends on the SC's capacity in sustaining its performance in
the market.
|
|
In view of the above, we recommend credit be granted to the SC with close
monitoring.
|
|
|
|
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