* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
PG0262900-M
|
|
COMPANY NAME
|
:
|
VEGETIUS DISTRIBUTOR
|
|
COMMENCEMENT DATE
|
:
|
08/04/2010
|
|
REGISTRATION DATE
|
:
|
08/04/2010
|
|
EXPIRY DATE
|
:
|
24/04/2012
|
|
BUSINESS CONSTITUTION
|
:
|
SOLE PROPRIETORSHIP
|
|
|
|
|
|
BUSINESS ADDRESS
|
:
|
7, JALAN PANTAI JERJAK 10, SUNGAI NIBONG, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA.
|
|
TEL.NO.
|
:
|
04-31666370
|
|
FAX.NO.
|
:
|
04-31666369
|
|
CONTACT PERSON
|
:
|
ROHAIZAD BIN RUSLI ( OWNER )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
52394
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF STATIONERIES, CLOTHING & SPORTS EQUIPMENT
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
2 [2011]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
|
|
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
WEAK
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
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CURRENCY EXPOSURE
|
:
|
NIL
|
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GENERAL REPUTATION
|
:
|
POOR
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
NIL
|
HISTORY / BACKGROUND
The SC commenced its business on
08/04/2010 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 stationeries,
clothing & sports equipment.
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. ROHAIZAD BIN RUSLI
|
1-8-9, JALAN TENGAH, , 11950 BAYAN BARU, PULAU PINANG, MALAYSIA.
|
780613-07-5073
|
100.00
|
|
|
|
|
---------------
|
|
|
|
|
100.00
|
|
|
|
|
============
|
+ Also Director
OWNERS
OWNER(S) 1
|
Name Of Subject
|
:
|
MR. ROHAIZAD BIN RUSLI
|
|
Address
|
:
|
1-8-9, JALAN TENGAH, 11950 BAYAN BARU, PULAU PINANG, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
780613-07-5073
|
|
Date of Birth
|
:
|
13/06/1978
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
08/04/2010
|
|
Shareholding
|
:
|
100%
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
ROHAIZAD BIN RUSLI
|
|
|
Position
|
:
|
OWNER
|
|
|
|
|
|
AUDITOR
No Auditor found in our databank
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.
|
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
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
PULAU PINANG
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
OPERATIONS
|
Goods Traded
|
:
|
STATIONERIES, CLOTHING & SPORTS EQUIPMENT
|
|
|
|
|
|
Competitor(s)
|
:
|
ALLWIN
STATIONERY
CHAHAYA BARU TRADING CO
HEAP HIN CHAN
KWONG HUAT CHEONG
WONG CHONG KEE & SONS CO
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2011
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
2
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of stationeries,
clothing & sports equipment.
The SC sells stationeries, general consumer goods and clothings.
The SC sells the products both in large and loose quantities.
The SC keeps stock of the products.
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
|
:
|
03-31666370
|
|
Current Telephone Number
|
:
|
04-31666370
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO. 7 JALAN PANTAI JERJAK 10 SUNGAI NIBONG 11900 BAYAN LEPAS PULAU
|
|
Current Address
|
:
|
7, JALAN PANTAI JERJAK 10, SUNGAI NIBONG, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
On 3rd May 2011 we contacted one of the 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
|
|
52394 : Retail sale of books, magazines, newspapers and stationery
|
|
|
|
|
INDUSTRY :
|
TRADING
|
|
Retail chain outlook in year 2010 is positive.
|
|
Figure shown that in year 2009, retail sales grew by a mere 0.8 per cent
while in 2008, the growth was at 5 per cent. In 2007, retail sales grew by
12.8 per cent. Last year was challenging, businesses that were hit were
those in the fashion and fashion accessories as well as those that sold
luxury or higher priced items.
|
|
However, most of the business have started to pick up this year. The 5.5
per cent growth is expected to translate into RM74.9 billion in consumer
spending on items ranging from clothing to furniture and groceries to
jewelery. The figures do not take into account big ticket items like houses
and cars.
|
|
Sales in the second half of the year will see an impact from the reduction
of subsidies and rising interest rates. The government's move of reducing
subsidies this year will have a major impact on consumers this year. Prices
may not have risen so far, but they are expected to do so towards the end
of the year.
|
|
Another factor affecting retail trend is the cost of borrowing. Rising
interest rates will have some impact on the purchasing power of Malaysian
consumers.
|
|
It costs more now to buy big tickets items or consumer goods on credit. At
the same time, higher car and housing installments will reduce the spending
power of consumers on retail goods. Moreover, domestic consumption may also
be affected as the external demand remains week.
|
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In the first quarter of 2010, retail growth was at 7.9 per cent, up from a
3.3 per cent contraction. With the exception of the second quarter of 2010,
the three other quarters are expected to grow over last year's
corresponding quarters. Sales in the third quarter are set to improve by 6
per cent due to the Mega Sale Carnival and Hari Raya purchases. Retail
sales in the October to December 2010 period are forecast to grow by 3.5
per cent supported by the traditional year-end school holidays and
Christmas shopping. Sales in the third quarter are set to improve by 6 per
cent due to the Mega Sale Carnival and Hari Raya purchases.
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OVERALL INDUSTRY OUTLOOK : Marginal Growth
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COMMENTS & RECOMMENDATION
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Incorporated in 2010 as a sole proprietorship, the SC is principally
engaged in the trading of stationeries, clothing and sports equipment.
Having been in the business for only 1 year, the SC's position in the
market is not stable. It is only deals with a very limited number of
clients.
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The SC's business expansion opportunities are limited as it concentrates
solely on the local market. Moreover, its current market share is not large
as it business operations are principally conducted in Pulau Pinang. In
this regard, the SC's commercial risk is high. Any adverse changes to the
local economy might have a negative impact on the SC's business
performance. As a small company with only 2 employees in the business, the
SC does not have strong management team. The SC's overall management
capability is considered as weak.
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As the SC registered as a sole proprietorship, its financial statement is
no available for analysis. As such, we are unable to ascertain the SC's
financial health. The SC's ability to meet its obligations is very much
dependent on the owner's financial strength.
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We noticed that the SC relies whole of its supply on local market. Without
being involved in any import and export activities, the SC does not face
foreign exchange risk. The SC may face high risk of shortage of raw
materials because of supplies is easily interrupted due to circumstances
beyond its control.
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The industry expects to enjoy a marginal growth in the near term. As the
market competition is tight, the SC should adopt more marketing strategies
in order to retain its market position as well as compete with other well
established players in the same field.
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Being a young company, we propose that business transaction with the SC be conducted
with caution and on a conservative basis until such time when the SC is
more fully established. Hence, credit is not recommended.
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