MIRA INFORM REPORT

 

 

Report Date :

11.11.2011

 

IDENTIFICATION DETAILS

 

Name :

JC NANOTECH SDN. BHD.

 

 

Registered Office :

60, 1st Floor Persiaran Mahsuri 1/2 Bayan Lepas Pulau Pinang 11900

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

09.04.2005

 

 

Com. Reg. No.:

687884-M

 

 

Legal Form :

Private Company Limited By Shares

 

 

Line of Business :

Import and export of machinery and industrial chemicals. Staff

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 35,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION DETAILS

 

Verified Address

 

Subject name                :           JC NANOTECH SDN. BHD.

 

 

Business address          :           60, 1st Floor

Persiaran Mahsuri 1/2

 

Town                             :           Bayan Lepas

Province                        :           Pulau Pinang

Zip/postal code              :           11900

Country                         :           Malaysia

Tel                                :           +60 4 6463306

Fax                               :           +60 4 6424306

Email                            :           sales@jcnanotech.com

Website                        :           www.jcnanotech.com

 

 

Registered address        :           LSY & ASSOCIATES

163-D-4, Wisma Seri Perak

Jalan Perak Town           :           Georgetown

Province                        :           Pulau Pinang

Zip/postal code              :           10150

Country                                                           :                       Malaysia

 

 

SUMMARY DETAILS

 

Executive Summary

 

Date founded or registered          :   09/04/2005

 

Legal form                                 :   Private Company Limited By Shares

 

Chief executive                          :   Soo Hoo Pei Lee

 

Issued & paid up capital             :   MYR 500,000

Sales turnover                            :   MYR 4,788,915 (Non-consolidated 12 months, 31/12/2009)

Net income                                :   MYR 69,049 (Non-consolidated 12 months, 31/12/2009)

Total fixed assets                       :   MYR 2,386,013 (Non-consolidated 12 months, 31/12/2009)

Line of business             :   Import and export of machinery and industrial chemicals.

Staff employed                           :   10 employees

 

 

CREDIT RISK OPINION

 

Company Analysis

 

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is steady

Management experienc  e          :   Management is modestly experienced

Financial performance                :   Financial performance is fair

Organization structure                :   Organizational structure is acceptable

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

 

Credit amount suggestion     :   USD 35,000

 

Credit amount asked              :   Not described.

 

 

STATUTORY DETAILS

 

Registry Data

 

Registration date            :   09/04/2005

 

Legal form                     :   Private Company Limited By Shares

 

Registration no              687884-M

 

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                         :      Lim Chai Ling

 

Designation                :      Director

 

Name                         :      Soo Hoo Pei Lee

 

Designation                :      Director

 

Name                         :      Lim Cheng Han

 

Designation                                              :            Director

 

 

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

 

Appointments

 

Name                            :           Raymond A/L Kolandai

 

Designation                   :           Director

 

Identification no              :           650622-10-6833

 

Appointment date           :           20/06/05

 

Address                        :           C/o JC NANOTECH SDN. BHD.

60, 1st Floor

Persiaran Mahsuri 1/2

11900 Bayan Lepas Pulau Pinang Malaysia

 

Name                            :           Lim Chai Ling

Designation                   :           Director

Identification no              :           720912-07-5300

Appointment date           :           31/12/08

 

Address                        :           No. 125-W, Happy Valley

11500 Air Itam Pulau Pinang Malaysia

Name                            :           Lim Cheng Han

Designation                   :           Director

Identification no              :           780523-07-5627

Appointment date           :           11/04/07

 

Address                        :           No. 125-W, Happy Valley

11500 Air Itam Pulau Pinang Malaysia

Name                            :           Soo Hoo Pei Lee

Designation                   :           Director

Identification no              :           780722-07-5240

Appointment date                    :                       11/04/07

 

 

Address                        :           No. 125-W, Happy Valley

11500 Air Itam Pulau Pinang Malaysia

Name                            :           Loh Seong Yew

Designation                   :           Company Secretary

 Identification no :           781108-07-5325

Appointment date           :           01/03/07

 

Address                        :           1-5-3A, Casa Pinang

Gerbang Batu Lanchang

11600 Jelutong Pulau Pinang Malaysia

Staff employed               :           10 employees

 

 

 

Key Advisors

 

 

Auditors                        :           YCS & CO

163-D-4, Wisma Seri Perak

Jalan Perak

Georgetown 10150

Pulau Pinang

Malaysia

 

SHARE CAPITAL

 

 

Composition

 

Authorized Capital                              :   MYR 1,000,000

 

No of shares                                       :   1,000,000 Ordinary Shares

 

Share par value                                   :   MYR 1

 

Issued capital                                     :   MYR 500,000

 

Paid up capital                                                                                         :   MYR 500,000

 

 

OWNERSHIP / SHAREHOLDERS

 

 

How listed                     :   Full List

 

Composition

 

Shareholder name          :   Lim Chai Ling

 

Address                        :   No. 125-W, Happy Valley

11500 Air Itam Pulau Pinang Malaysia

No. of shares                 :   150,000 Ordinary Shares

 

Shareholder name          :   Ngo Back Eng

 

Address                        :   No. 29 Jalan Pantai Jerjak 11

Sungai Nibong

11900 Bayan Lepas Pulau Pinang Malaysia

 

No. of shares                 :   70,000 Ordinary Shares

Shareholder name          :   Soo Hoo Pei Lee

Address                        :   No. 125-W Happy Valley

11500 Air Itam

Pulau Pinang

Malaysia

 

No. of shares                          :   280,000 Ordinary Shares

 

 

RELATED COMPANIES & CORPORATE AFFILIATIONS

 

Structure

 

Name                :   JC INTERNATIONAL SDN BHD

Affiliation type    :   Associate

Address            :   60, 1st Floor

Persiaran Mahsuri 1/2

Bayan Lepas 11900

Pulau Pinang

Malaysia

 

 

BANK & MORTGAGES

 

Bank Details

 

Name of bank    :   HSBC Bank Malaysia Berhad

Address            :   Malaysia

Account details  :   Current 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: MYR 220,000

Date of Creation: 29-10-2007

Name of Chargee: HSBC BANK MALAYSIA BERHAD AS SECURITY AGENT FOR HSBC AMANAH MALAYSIA BERHAD AND ITSELF

Charge Status: UNSATISFIED

 

Total of Charge: MYR 200,000

Date of Creation: 02-05-2008

Name of Chargee: HSBC BANK MALAYSIA BERHAD AS SECURITY AGENT FOR HSBC AMANAH MALAYSIA BERHAD AND ITSELF

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                     :   31/12/09

 

Type of accounts                                :   Full audited

 

Currency                                            :   Malaysia, Ringgit (MYR)

 

   Exchange rate                                    :   1 USD = MYR 3.12 as of 09-11-2011

 

 

Summarized Financial Information

Consolidation type                                                                  :   Non Consolidated                    Non Consolidated

Currency                                                                                 :   Malaysia, Ringgit (MYR)           Malaysia, Ringgit (MYR)

Denomination                                                                         :   (x1) One                                 (x1) One

Date of financial year end                        :   31/12/09                                                  31/12/08

 

Length of accounts                             :

12 months

12 months

Sale turnover / Income                         :

4,788,915

5,981,156

Gross profit                                        :

506,479

735,876

Operating profit                                   :

119,172

167,331

Profit before tax                                  :

96,670

100,452

Net income                                        :

69,049

73,233

Non current assets                             :

324,718

444,713

Current assets                                    :

2,061,295

2,540,537

Inventories                                          :

399,488

497,118

Total assets                                       :

2,386,013

2,985,250

Current liabilities                                 :

1,616,349

2,275,217

Non current liabilities                           :

8,779

18,197

Total liabilities                                    :

1,625,128

2,293,414

Share equity                                       :

760,885

691,836

Retained earning                                 :

260,885

191,836

 

 

OPERATION DETAILS

 

 

Main activities                :   The Subject is engaged in the import and sales of machinery and industrial chemicals.

Product & services         :   Industrial Chemicals:

Resins, Synthetic Fiber, Ink And Paint, Surfactants, Other Chemical Intermediates. Petrochemical Products, Plastics Raw Materials And Additives, Pigments, Electronic Chemicals, Catalysts, Raw Materials For Toiletries, Surfactants, Flourine Chemicals, Silicon

Coating Materials: Ink And Paint Products And Materials For Imaging And Recording, Chemicals For Paper Manufacturing, Raw Materials For Paints And Inks, Distillated Solvents And Recycle Solvent.

 

Machinery:                    Caustic Soda Recovery Plant, the recycling and environmental friendly equipment

Continuos washing and pre-treatment range for knitted and woven fabric

Textile related laboratory testing equipments

 

 

Purchases

 

International                   :   China, India, South Korea, Taiwan, Japan

 

 

Sales

 

Local                            :   100% local sales

 

International                   :   No exports.

 

 

Property & Assets

 

 

Premises                      :   The Subject operates from premises located at the verified heading address consisting of administrative office and warehouse.

 

Branches                      :   The Subject in addition operates from branch office located at:

D6-3A-2, Dana 1 Commercial Centre Jalan PJU 1A/46, 47200 Petaling Jaya Selangor Darul Ehsan

Malaysia

Tel: +60 3 78429712

 

 

SUMMARIZED COUNTRY RISK

 

Gross Domestic Products (GDP) & Economic Overview

 

Central bank                                          :   Central Bank of Malaysia

 

Reserve of foreign exchange & gold         :   USD134.4 billion as of 14 October 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: 54.2%

 

 

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$420 billion

 

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

 

International                                       :   Telegraphic transfer at sight, Prepayment, Credit 30 days

 

 

Sales Term

 

Local                                                 :   Credit 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.49.78

UK Pound

1

Rs.80.10

Euro

1

Rs.68.82

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.