|
* Adopted abbreviations : SC
- Subject Company (the company enquired by you)
N/A
- Not Applicable
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
749187-T
|
|
COMPANY NAME
|
:
|
CALEE JEWELS (M) SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
02/10/2006
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
53A, LORONG
PERDA SELATAN 1, BANDAR PERDA, 1ST FLOOR, 14000 BUKIT MERTAJAM, PULAU
PINANG, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
32-11-3A,
BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA, OLD KLANG ROAD,
58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-79806315
|
|
FAX.NO.
|
:
|
03-79806315
|
|
CONTACT PERSON
|
:
|
RAHUL RAMONKAR KUMAR ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
51393
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF
JEWELLERIES
|
|
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 600,002 CASH AND 399,998 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 327,160
[2010]
|
|
NET WORTH
|
:
|
MYR 758,801 [2010]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2011]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL GROWTH
|
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) trading of jewelleries.
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. AMEER TAJUDIN BIN ABDUL WAHAB +
|
20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU
PINANG, MALAYSIA.
|
561215-07-5385
5100544
|
400,000.00
|
|
MR. HIMAT BHAI POPAT BHAI LATHIYA +
|
32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA,
OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
Z1321564
|
200,000.00
|
|
MR. RAHUL RAMONKAR KUMAR +
|
32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA, OLD KLANG ROAD,
58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
G5183525
|
200,000.00
|
|
MR. TAN KOK SEONG +
|
20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU
PINANG, MALAYSIA.
|
740218-07-5587
A2721958
|
200,000.00
|
|
|
|
|
---------------
|
|
|
|
|
1,000,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. HIMAT BHAI POPAT BHAI LATHIYA
|
|
Address
|
:
|
32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA,
OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
Z1321564
|
|
|
|
|
|
Date of Birth
|
:
|
01/06/1967
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
02/10/2006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. RAHUL RAMONKAR KUMAR
|
|
Address
|
:
|
32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA, OLD KLANG ROAD,
58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
G5183525
|
|
|
|
|
|
Date of Birth
|
:
|
29/05/1977
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
02/10/2006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. TAN KOK SEONG
|
|
Address
|
:
|
20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU
PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
A2721958
|
|
New IC No
|
:
|
740218-07-5587
|
|
Date of Birth
|
:
|
18/02/1974
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
02/10/2006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. AMEER TAJUDIN BIN ABDUL WAHAB
|
|
Address
|
:
|
20, CANGKAT MINDEN, JALAN 1, MINDEN HEIGHTS, 11700 GELUGOR, PULAU
PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
5100544
|
|
New IC No
|
:
|
561215-07-5385
|
|
Date of Birth
|
:
|
15/12/1956
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
02/10/2006
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
RAHUL RAMONKAR KUMAR
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
HIMAT BAHI POPAT
|
|
|
Position
|
:
|
SALES DIRECTOR
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
AMEER TAJUDIN
|
|
|
Position
|
:
|
PURCHASING DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
RAGENDRAN & CO
|
|
Auditor' Address
|
:
|
34, LORONG ABU SITI, 1ST FLR, 10400 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. OTHMAN KAMAL BIN ABDUL SAMAD
|
|
|
IC / PP No
|
:
|
3845534
|
|
|
New IC No
|
:
|
451219-08-5495
|
|
|
Address
|
:
|
348-C HILIR PEMANCAR, GELUGOR, 11700 GELUGOR, PULAU PINANG,
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
|
|
Import Countries
|
:
|
INDIA
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,CASH
|
|
Type of Customer
|
:
|
DEALERS,END USERS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
JEWELLERIES
|
|
|
|
|
|
Competitor(s)
|
:
|
KAH HONG
TRADING SDN BHD
LS GOLD BULLION SDN BHD
MALAYSIAN INDUSTRIAL DIAMOND & SYNTHESIZING SDN BHD
PUSAT EMAS & PERMATA AHMAD ISMAIL SDN BHD
WAH CHAN CONSOLIDATED SDN BHD
|
|
|
|
|
|
Ownership of premises
|
:
|
LEASED/RENTED
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
5
|
4
|
2
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of jewelleries.
The SC sells all kinds of gemstones, diamonds and other decorative stones.
The SC acts as the distributor for the stones.
The SC is also able to import stones according to its customers'
requirements.
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 investigations.
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
0379 806315
|
|
Current Telephone Number
|
:
|
03-79806315
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
32-11-3A, BUKTI DESA, CONDOMINIUM JALAN BUKIT DESA 3, TANAN BUKIT
DESA, OLD KLANG ROAD, 58100 KUALALUMPUR
|
|
Current Address
|
:
|
32-11-3A, BUKIT DESA CONDOMINIUM, JALAN BUKIT DESA 3, TAMAN DESA,
OLD KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
FINANCIAL COMMENTS
The financial
summary of the SC in Year 2010 showed that it was financially FAIR. Return on
shareholders' funds of the SC is relatively low, indicating that the SC did
not generate an acceptable amount of profits based on its existing
shareholders' funds. The SC however was in good liquidity position with its
current liabilities well covered by its current assets. With its current net
assets, the SC should be able to repay its short term obligations. A low
liabilities ratio has minimised the SC's financial risk.
Overall financial condition of the SC : FAIR
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
|
|
51393 : Wholesale of jewellery, watches, clocks and silverware
|
|
|
|
|
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.
|
|
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.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth
|
COMMENTS & RECOMMENDATION
|
Established in 2006, the SC is a private limited company with core
business in the trading of jewelleries. Throughout its years of establishment,
the SC has slowly been building up contacts with its clients and competing
in the industry. With a paid up capital of RM1 million, the SC has greater
opportunities to expand its business when the needs arise.
|
|
Investigation revealed that the SC concentrates only on the local market.
This narrow market segment has placed the SC at high business risk and
limits its business expansion opportunities. Any adverse changes to the
local economy might have a negative impact on the SC's business performance.
Being a small company, the SC's business operation is supported by 5
employees. Overall the management capability of the SC is average.
|
|
For the financial year ended 2010, the SC's turnover and pre-tax profit
stood at RM327,160 and RM3,502 respectively. The SC has generated an
unfavourable return on shareholders' funds indicating that the management
was inefficient in utilising its funds to generate return. However, the SC
was in good liquidity position with its current liabilities well covered by
its current assets. Hence, it has sufficient working capital to meet its
short term financial obligations. With low liability ratio, the SC is
exposed to low financial risk as it is mainly dependent on its internal
funds to finance its business needs.
|
|
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 SC is clear of any litigation.
|
|
The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the SC's future performance is very much depend
on its marketing strategies in order to retain its position in the market.
|
|
In view of the above, we recommend that credit be proceeded to the SC with
close monitoring.
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIA
ACCOUNTING STANDARD.
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
CALEE JEWELS (M) SDN BHD
|
|
31-December-2010
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Turnover
|
327,160.00
|
|
Operating Revenue
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Before Tax
|
3,502.00
|
|
|
---------------------
|
|
|
|
Profit/(Loss) After Tax
|
3,502.00
|
|
Extraordinary Item
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Profit/(Loss) Attributable to Shareholders
|
3,502.00
|
|
|
---------------------
|
|
|
|
Prior Period Adjustment
|
0.00
|
|
Net Dividend
|
0.00
|
|
Transferred To/From Reserved
|
0.00
|
|
Others
|
0.00
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Brought Forward
|
<244,701.00>
|
|
|
---------------------
|
|
Unappropriated Profit/(Loss) Carried Forward
|
<241,199.00>
|
|
|
================
|
|
|
|
BALANCE SHEET
|
|
CALEE JEWELS (M) SDN BHD
|
|
31-December-2010
|
|
Consolidated Accounts
|
:
|
NO
|
|
UnQualified Reports
|
:
|
YES
|
|
|
|
|
RM
|
|
Fixed Assets
|
6,437.00
|
|
Total Investment
|
0.00
|
|
Amount Owing By
|
0.00
|
|
Current Assets
|
798,137.00
|
|
Intangible Assets
|
0.00
|
|
Other Assets
|
0.00
|
|
|
---------------------
|
|
Total Assets
|
804,574.00
|
|
|
================
|
|
|
|
|
Working Capital
|
752,364.00
|
|
|
|
|
Issued Capital
|
1,000,000.00
|
|
Paid Up Capital
|
1,000,000.00
|
|
Share Premium & Reserved
|
0.00
|
|
Unappropriated Profit/(Loss)
|
<241,199.00>
|
|
|
---------------------
|
|
Shareholder's Fund/Equity
|
758,801.00
|
|
|
---------------------
|
|
|
|
Current Liabilities
|
45,773.00
|
|
Amount Owing To
|
0.00
|
|
Long-term and Deferred Liabilities
|
0.00
|
|
Share Application Account
|
0.00
|
|
Minority Interest
|
0.00
|
|
|
---------------------
|
|
Total Equity Liability
|
804,574.00
|
|
|
================
|
|
|
|
|
Contingent Liabilities
|
0.00
|
|
|
|
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