MIRA INFORM REPORT
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Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
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Name : |
TATT GIAP HARDWARE SDN. BHD. |
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Registered Office : |
C/O
Mushtari Management Services Sdn. Bhd., 45, Jalan Perak, Georgetown Pulau Pinang , Zip/Postal Code 10150 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
11.05.1978 |
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Com. Reg. No.: |
39286-X |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Importers, wholesalers and retailer of stainless steel products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2,400,000 |
|
Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Malaysia |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Identification details
Verified Address
Subject
name : TATT GIAP HARDWARE SDN. BHD.
Business
address : No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
Town : Prai
Province : Pulau Pinang
Zip/postal
code : 13600
Country : Malaysia
Tel : +60 4 5021155
Fax : +60 4 5070088
Email : tattgiap@tattgiap.com.my
Website : www.tattgiap.com.my
Registered
address : C/o MUSHTARI MANAGEMENT SERVICES SDN. BHD.
45, Jalan Perak
Town : Georgetown
Province : Pulau Pinang
Zip/postal
code : 10150
Country : Malaysia
Comments : The provided address Plot 33, Jalan
Perusahaan Bukit Minyak, Bukit Minyak
Industrial Park, 14000, Bukit Mertajam, Penang, Malaysia
belongs to the Subject's associated company’s production facilities.
Summary details
Executive Summary
Date founded or registered : 11/05/1978
Legal form : Private Company Limited By Shares
Chief executive : Siah Lee Beng
Issued & paid up capital : MYR 20,000,000
Sales turnover : MYR 79,794,857 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 2,523,439 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 95,521,327 (Non-consolidated 12 months, 31/12/2010)
Line of business : Importers, wholesalers and retailer of stainless steel products.
Staff employed : 50 (Subject); 400 (Group)
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 2,400,000
Credit amount asked : Not described.
Statutory details
Registry Data
Registration date : 11/05/1978
Legal form : Private Company Limited By Shares
Registration no : 39286-X
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Management / directors
Key Management
Name : Siah Kok Poay
Designation : President
Name : Siah Lee Beng
Designation : Managing Director
Board of directors / other
appointments
Appointments
Name : Siah Kok Poay
Designation : Director
Identification no : 541010-07-5615
Appointment date : 26/01/94
Address : 6 Lorong Tambun Indah 5
Taman Tambun Indah
14100 Simpang Ampat
Pulau Pinang
Malaysia
Biography : Dato'
Siah Kok Poay serves as Chairman of the Board and President of Tatt Giap Group
Bhd. He was appointed to the Board on December 1, 2008. He obtained his
Bachelor of Science in Mathematics and Computer Science in 1976 and a diploma
in Business Administration in 1977 from
Name : Tan Lu Eng
Designation : Director
Identification no : 641004-07-5764
Appointment date : 01/04/96
Address : 22,Lorong Cengkeh 5
Taman Cengkeh
13400 Butterworth Pulau Pinang Malaysia
Biography : Ms.
Tan Lu Eng serves as Executive Director of Tatt Giap Group Bhd. She was
appointed on December 1, 2008. She is also the Managing Director of Tatt Giap
Steel Centre Sdn Bhd (TGSC). She started her career in 1987 as Accounts
Assistant of Tatt Giap Hardware Sdn Bhd (TGH) after obtaining her Sijil Tinggi
Pelajaran Malaysia in 1984. She became a Director of TGH in 1996, responsible
for the sales and marketing, human resources and administration activities. She
has 20 years of experience in the steel and stainless steel business.
Name : Siah Chin Joo
Designation : Director
Identification no : 760106-07-5521
Appointment date : 14/05/10
Address : 30 Medan Pantai Jerjak
11900 Bayan Lepas Pulau Pinang Malaysia
Name : Siah Chin Pin
Designation : Director
Identification no : 820121-07-5433
Appointment date : 14/05/10
Address : No. 6, Lorong Tambun Indah 5
Taman Tambun Indah
14100 Simpang Ampat
Pulau Pinang
Malaysia
Name : Siah Lee Beng
Designation : Director
Identification no : 500102-08-5377
Appointment date : 31/07/85
Address : 30, Medan Pantai Jerjak
Sungai Nibong
11900 Bayan Lepas Pulau Pinang Malaysia
Biography : Mr.
Siah Lee Beng serves as Executive Director of Tatt Giap Group Bhd. He was
appointed on December 1, 2008. He is the co-founder and Managing Director of
Tatt Giap Hardware Sdn Bhd (TGH). He started his career as Production Assistant
at Tong Giap Foundry in 1968 after he completed his secondary education in
1967. He has 20 years of experience in metal casting industry and 20 years of
experience in steel and stainless steel business. He is involved in various
organizations, such as being the President of Lion Club of Tanjung, Penang and
Director of the
Name : Kong Hwan Kwan @ Kong Fam Kwan
Designation : Company Secretary
Identification no : 530922-07-5577
Appointment date : 01/12/86
Address : C/o MUSHTARI MANAGEMENT SERVICES SDN. BHD.
45, Jalan Perak
Georgetown 10150
Pulau Pinang
Malaysia
Name : Yeoh Wee Lee
Designation : Company Secretary
Identification no : 670805-07-5097
Appointment date : 01/10/04
Address : B2-16-7, Bayswater Condominium
Jalan Tengku Kudin 2
11700 Gelugor Pulau Pinang Malaysia
Staff employed : 50 (Subject); 400 (Group)
Key Advisors
Auditors : KPMG
KPMG Tower, 8 First Avenue
Bandar Utama , 47800 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Share capital
Composition
Authorized Capital : MYR 25,000,000
No of shares : 25,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 20,000,000
Paid up capital : MYR 20,000,000
Changed in capital : The Subject increased its share capital
from MYR 5,000,000 to MYR 25,000,000 on 01-11-1999.
ownership / shareholders
How listed : Full List
Composition
Shareholder
name : TATT GIAP GROUP BERHAD
Address : No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
No. of
shares : 20,000,000
Ordinary Shares
%
of shares : 100%
Related companies & corporate Affiliations
Structure
Name : TATT GIAP GROUP BERHAD
Affiliation type : Parent Company
Address : No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments : TATT GIAP GROUP BERHAD started with the
inception of Tatt Giap Hardware Sdn. Bhd. in 1978. In view of
Tatt Giap Steel
Centre Sdn. Bhd. was incorporated in 1994 as a steel processing centre to
provide JIT services to customers. In 1997, TATT GIAP GROUP BERHAD achieved a
major milestone by collaborating with Nippon Metal Industry
(NTK), a
leading manufacturer of stainless steel coils in
The Group’s
activities were further enhanced by the incorporation of 2 more subsidiaries in
1997, namely Tatt Giap Perforated Metals Sdn. Bhd. and TGMI Industries Sdn.
Bhd. undertaking the manufacturing and trading of stainless/steel perforated
metals. On the back of its experience, resources and network built up in the
steel industry, in 2005, the Group diversified downstream into the
manufacturing of stainless steel tubes and pipes under the brand of Superinox
with the set up of Superinox Pipe Industry Sdn. Bhd. Superinox Pipes has placed
itself as one of the leading manufacturers of Welded Austenitic Stainless Steel
Pipes in South East Asia.
In 2007, the
Group constantly seek to strategically expand its value chain to offer broader
range of product and services by acquiring a full set of manufacturing
facilities for the manufacturing of carbon and stainless steel bars through TG
Oriental Steel Sdn. Bhd.
In 2007, TATT
GIAP GROUP BERHAD has marked its largest milestone since its inception with the
investment of about RM100 million through the incorporation of E-Galv Steel
Industry Sdn. Bhd. E-Galv Steel Industry Sdn. Bhd. has completed the setting up
of its Electro Galvanizing Line (EGL) and has commenced its commercial
production of EG steel coils on 2nd February 2009.
Upon
establishing a joint venture partnership with Nippon Steel Corporation and Hanwa
Company Limited in Feb 2010, it is now rename to Nippon EGalv Steel Sdn. Bhd.
TATT GIAP
GROUP’s range of products are supplied to various industrial and building
sectors in Malaysia and have expanded its market to overseas by exporting to
ASEAN countries, India, Australia, United States and Middle East and the Group
are now looking into the opportunities to explore into South Africa and South
America markets. TATT GIAP GROUP BERHAD currently operates from seven
facilities in
The most recent
expansion undertaken by TATT GIAP GROUP BERHAD is in the investment of RM25
million into a new Welded Stainless Steel Pipe Line under Superinox. The new
pipe line will be able to produce pipes of larger diameters of
10” to 16” and
is the group’s strategic step towards expanding its pipes product range. The
production of new pipe line should be commence in April 2010. With this
additional investment the total investment in its Superinox pipe lines will
reach about RM50 million and Superinox will ultimately be the largest pipe
producer in
Name TATT GIAP STEEL CENTRE SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address Plot 33, Jalan Perusahaan Bukit Minyak
Bukit Minyak Industrial Park
14000, Bukit Mertajam
Penang
Malaysia
Comments : Manufacturing and trading of stainless steel tubes and pipes and other ferrous and non ferrous metal products.
Name SUPERINOX PIPE INDUSTRY SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai Penang Malaysia
Comments Manufacturing and distribution of Superinox stainless steel tubes and pipes.
Name : TG ORIENTAL STEEL SDN. BHD
Affiliation type : Sister Company
Address : No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments Manufacturer of cold finished & polished stainless / steel bars.
Name TATT GIAP PERFORATED METALS SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments Trading of metal products.
Name TGMI INDUSTRIES SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address No. 6, Jalan Perusahaan 5
Beranang Industrial Park
43700 Beranang Selangor Darul Ehsan Malaysia
Comments Manufacture of perforated metals in all steels, aluminium coil and sheet.
Name FORMOSA INDUSTRIES SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments Investment in properties.
Name SUPERINOX INTERNATIONAL SDN. BHD.
Affiliation type Wholly-owned Subsidiary
Address Plot 33 Jalan Perusahaan Bukit Minyak
Bukit Minyak Industrial Park
14000 Bukit Mertajam, Penang
Malaysia
Comments Exporter of Superinox stainless steel tubes and pipes.
Name NIPPON E-GALV STEEL SDN. BHD.
Affiliation type Subsidiary
Address No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments Manufacturing of electro-galvanised steel.
Related companies and corporate affiliations comments
Other companies of the Tat Giap Group should be considered
affiliates of the Subject.
Bank & mortgages
Bank Details
Name of bank : Malayan Banking Bhd
Address : Malaysia
Account details : Currrent Account
Comments It is generally not the
policy of local banks to provide credit status information to non related
parties, however interested parties would be advised to consult first with the
Subject if banker's references are required.
Mortgages
Total of Charge: 150,000.00
Date of Creation: 07-02-1992
Name of Chargee: MALAYAN BANKING BHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,000,000.00
Date of Creation: 07-02-1992
Name of Chargee: MALAYAN BANKING BHD
Charge Status: FULLY SATISFIED
Total of Charge: 150,000.00
Date of Creation: 17-03-1992
Name of Chargee: MALAYAN BANKING BHD
Charge Status: UNSATISFIED
Total of Charge: 1,000,000.00
Date of Creation: 17-03-1992
Name of Chargee: MALAYAN BANKING BHD
Charge Status: PARTLY RELEASED
Total of Charge:
OPEN CHARGE
Date of Creation:
02-08-1996
Name of Chargee:
UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY
SATISFIED
Total of Charge:
2,400,000.00
Date of Creation:
24-06-1997
Name of Chargee: UNITED OVERSEAS BANK
Charge Status: FULLY SATISFIED
Total of Charge: 2,220,000.00
Date of Creation: 24-06-1997
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 7,000,000.00
Date of Creation: 04-03-1998
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 8,500,000.00
Date of Creation: 04-03-1998
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 11,000,000.00
Date of Creation: 19-06-2000
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,000,000.00
Date of Creation: 19-06-2000
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: PARTLY RELEASED
Total of Charge: OPEN CHARGE
Date of Creation: 15-07-2000
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE Date of Creation: 02-01-2001
Name of Chargee: MULTIPURPOSE BANK BERHAD Charge Status: FULLY SATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 10-07-2007
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None
reported.
Others : None reported.
financial data
Description
Source of financial statement : Commercial
Registry Filings
Financial statement date : 31/12/10
Type of accounts : Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.14 as of 24-10-2011
Summarized Financial Information
Consolidation type Non Consolidated Non
Consolidated Group Consolidated
|
Currency : |
|
Malaysia, Ringgit (MYR) |
Malaysia, Ringgit (MYR) |
|
Denomination : |
(x1) One |
(x1) One |
(x1) One |
|
Date of financial
year end : |
31/12/10 |
31/12/09 |
31/12/10 |
|
Length of
accounts : |
12 months |
12 months |
12 months |
|
|
79,794,857 |
71,334,048 |
315,058,958 |
|
Gross profit : |
|
|
22,311,467 |
|
Operating profit : |
|
|
-4,688,717 |
|
Profit before
tax : |
3,066,531 |
4,216,910 |
-4,362,585 |
|
Net income : |
2,523,439 |
2,704,846 |
-4,632,081 |
|
Non current
assets : |
29,304,812 |
31,931,745 |
214,511,813 |
|
Current assets : |
66,216,515 |
64,221,562 |
193,927,314 |
|
Inventories : |
|
|
107,128,681 |
|
Total assets : |
95,521,327 |
96,153,307 |
408,439,127 |
|
Current liabilities : |
59,259,176 |
61,911,413 |
224,977,474 |
|
Non current
liabilities : |
1,961,861 |
2,467,503 |
47,084,442 |
|
Total
liabilities : |
61,221,037 |
64,378,916 |
272,061,916 |
|
Share equity : |
34,300,290 |
31,774,391 |
136,377,211 |
|
Reserve : |
14,300,290 |
11,774,391 |
71,423,613 |
Comments : The non-consolidated financial information above relates to the Subject only.
The group’s consolidated financial information above relates to the Subject’s Parent Company Tatt Giap Group Berhad and all its subsidiaries which include the Subject.
Operation details
Main activities : The Subject is engaged as importers, wholesalers and retailer of stainless steel products.
The Subject is part of Tatt Giap Group Berhad (TGG), which
is a
Purchases
International : Worldwide
Sales
Local : Yes
International : Southeast Asia, India, Australia,
United States and Middle East
Key events : Tatt Giap buys land for RM18.8m
September 9, 2011
Tatt Giap Group
Bhd, through its wholly-owned subsidiary, Superinox Pipe Industry Sdn Bhd, has
entered into a sale and purchase agreement for two pieces of land from GUH
Electrical Appliances Sdn Bhd for a cash consideration of RM18.8 million.
In a filing to
"The
proposed acquisition is to cater for future expansion of the stainless steel
industrial pipes business and venture into new activity, namely, the
manufacture of stainless steel fittings
"The
proposed acquisition is not expected to have a significant effect on the
group's earnings for the financial year ending December 31, 2011, other than
the interest to be charged on the bank borrowing of approximately
RM108,000," the company said.
TATT GIAP GROUP SIGNS UNDERWRITING AGREEMENT Penang, 13 May
2010 - Marking a milestone towards its listing on the Main
Market of Bursa Malaysia, Tatt Giap Group Berhad ("Tatt
Giap" or "the
Group")
and its major shareholders, namely Giapxin Sdn Bhd ("GSB"),
Perbadanan Nasional Berhad ("PNS"), today signed an underwriting
agreement with Alliance Investment Bank Berhad ("Alliance").
Dato' Steven
Siah Kok Poay, Chairman and President of Tatt Giap said, "The listing of
Tatt Giap is the way to go for the expansion of the Group. With our established
track record, growing geographical presence and continued product and service
enhancements, the listing should provide us with the necessary resources to
strengthen our position in the growing steel processing industry."
According to a
market research report by Frost & Sullivan, the Malaysian steel processing
industry is expected to grow from RM3.1 billion in 2010 to RM4.1 billion in
2014, representing a compounded annual growth rate of 7.3%.
The Group aims
to raise RM8.45 million through the public issue of 14.56 million new ordinary
shares comprising 6,000,000 new shares to the Malaysia public, 2,000,000 new
shares to eligible directors, employees and individuals who have contributed to
the success of the Group, and 6,560,000 shares to identified investors. In
addition, 14,200,000 vendor shares will be offered collectively by GSB and PNS
to bumiputra and identified investors. The shares will be priced at RM0.58
each.
Tatt Giap's
listing will be managed by
With some 20
years of track record for consistently delivering high-quality products and
services, Tatt Giap Group is today, primarily engaged in the manufacturing and
trading of stainless and steel related products. In addition to its steel
processing activities, the Group distributes steel and provides comprehensive
value-added, customised solutions for its customers.Tatt Giap's base of
customers spans the automotive, construction, electrical & electronics,
manufacturing and retail industries.
Commenting on
the Company's prospects, Dato' Steven Siah said, "Over the years, we have
demonstrated considerable success in transforming and expanding our business
activities and presence. Going forward, we seek to further expand our market
share both locally and globally, by
enhancing and
expanding our products and service offerings, particularly in the downstream
steel product area."
For the
financial year ended 31 December 2009, Tatt Giap achieved profit after tax of
RM6.9 million on revenue of RM225.4 million.
The listing of Tatt Giap shares is expected to take place at
the beginning of July 2010.
PROPOSED
DISPOSAL OF SHARES IN NIPPON EGALV STEEL SDN BHD (“
7 April 2011
Tatt
Giap Group Berhad (“TGG” or “Company”)
The Board of
Directors of TGG is pleased to announce that the Company has on 7 April 2011
executed a Letter of Intent (“Letter”) with Nippon Steel Corporation (“NSC”) to
confirm the potential sale by its wholly-owned sub-subsidiary, Tatt Giap Steel
Centre Sdn Bhd (“TGSC”) and acquisition by NSC of 9,022,500 ordinary shares of
RM1.00 each representing 40.1% of the entire issued share capital of Nippon
EGalv (“Sale Shares”) for an aggregate purchase price of RM19,172,812.50 (“the
Proposed Disposal”)
9 December 2009
JOINT VENTURE
AGREEMENT BETWEEN NIPPON STEEL CORPORATION, HANWA CO.LTD AND
NIPPON STEEL CORPORATION,
second-largest
steel maker, HANWA CO., LTD., one of the biggest trading company in Japan and
Nippon EGalv Steel Sdn. Bhd. (Formerly known as E-Galv Steel Industry Sdn.
Bhd.), a member of TATT GIAP Group as one of the pioneer manufacturer to produce
Electro Galvanized Steel Coils in Malaysia, signed a Joint Venture Agreement
(JVA) on 9th December 2009 in Tokyo, Japan.
With the
signing of the Join Venture Agreement, NIPPON STEEL CORPORATION will have a
stake of 10% and HANWA CO., LTD. will have a stake of 15% in Nippon EGalv Steel
Sdn. Bhd.
The JV will
enable Nippon EGalv Steel to expand and create a substantial knowledge and
technical base, while maintaining the long term relationship between TATT GIAP
Group, Nippon Steel Corporation and Hanwa Co. Ltd. which has been enduring for
more than 15 years.
Malaysia is one of the biggest areas in great demand for Electro-Galvanized
steel where a number of Japanese consumer-electronics manufacturers are moving
in and expanding their production. By investing in Nippon EGalv Steel, Nippon
Steel and HANWA foresee that they will be able to participate with Nippon EGalv
Steel in constructing an Electro-Galvanized steel sheet supply system in order
to meet the demand from Local and Japanese consumer-electronics manufacturers
through provision of technical assistance and stable supply of raw material to
Nippon EGalv Steel. On the other hand, the joint venture will also support
Nippon Steel Corporation in maintaining its market shares in
We believe that
this strong partnership will generate a milestone for Tatt Giap Group and well
placed to make the most of the tremendous growth potential and will add
momentum to seeing this company grow and prosper. Nevertheless, it will also
enhance
"This
joint venture will be a strong platform to pursue growth opportunities and we
look forward to the future success of this partnership".
Property & Assets
Premises The Subject operates from group headquarters located at the verified heading address consisting of production facilities, administrative office and warehouse.
Branches In addition, the Subject operates from branches consisting of warehouse and sales offices located at:
Warehouse & sales office
1068, Jalan Bagan Lalang
13400 Butterworth, Penang
Malaysia
Tel: +60 4 3310066
Sales office
NO.8-3, Jalan USJ Sentral 3
USJ Sentral, Persiaran Subang 1
47600 Subang Jaya Selangor Darul Ehsan Malaysia
Tel: +60 3 80251566
Warehouse
No. 6, Jalan Perusahaan 5
Beranang Industrial Park, 43700 Semenyih
Selangor Darul Ehsan
Malaysia
Tel: +60 3 87668616
Sales office
No. 3A-01,Jalan Sasa 4,Taman Gaya
81800, Ulu Tiram, Johor
Malaysia
Tel: +60 7 8611463
Summarized country risk
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of
Reserve of foreign exchange & gold :
US$131 billion as of 30 September 2011
Gross domestic product - GDP : US$ 247.781 billion
GPP (Purchasing power parity) : 442.01
billion of International dollars
GDP per capita - current prices : US$
8,624
GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%
Inflation 2008: 5.4%
2009: 0.6%
2010: 1.7%
Unemployment
rate 2008 3.3%
2009 3.6%
2010 3.3%
Public debt
(General Government gross
debt as a % GDP) 2008:
42.8 %
2009: 55.4%
2010: 55.2%
Government bond
ratings Standard
& Poor's: A-/Stable/A-2
Moody's rating: A3
Moody's outlook: STA
Market value of publicly traded shares US$ 420Billion
Largest companies in the country : CIMB Group Holdings (Banking), Sime
Darby (Conglomerates),
Public
Bank (Banking), Maybank (Banking), Tenaga Nasional(Utilities), Petronas
Chemicals, Maxis Berhad
Trade & Competitiveness Overview
Total exports US$210.3 billion
Exports commodities electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Total imports US$156.2 billion
Imports commodities electronics, machinery, petroleum products, plastics, vehicles, iron and steel products,
chemicals
Export - major partners US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%, Hong
Kong 4.6%
Import - major partners Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%, Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%
FDI Inflows 2007: US$8,538 million
2008: US$7,318 million
2009: US$1,381 million
FDI Outflows 2007:
US$11,280 million
2008: US$14,988 million
2009: US$8,038 million
Best countries for doing business : 21 out of 183 countries
Global competitiveness ranking : 26 (ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population :
28.23 million
Total area :
329,847 km2
Capital : Kuala Lumpur
Currency : Malaysia ringgits (MYR)
Internet
users as % of total population
: 57.61%
Payment history
Purchase Term
Local : Cash against document, Credit 30-60
days
International : L/C, Credit 30-60 days
Sales Term
Local : Cash against document, Credit 30-60
days
International : L/C, Credit 30-60 days
Trade Reference/ Payment Behaviour
Comments As local and
international trade references were not supplied, the Subject's payment track
record history cannot be appropriately determined but based on our research,
payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other
official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.78 |
|
Euro |
1 |
Rs.67.76 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.