MIRA INFORM REPORT
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Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SNH BUMI CORPORATION SDN. BHD. |
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Registered Office : |
No. 39-1,Jalan Pinggiran 1A/1, Pinggiran Batu Caves, Batu Caves,
Selangor Darul Ehsan, Zip/postal code 68100 |
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Country : |
Malaysia |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
26.04.2005 |
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Com. Reg. No.: |
689482-U |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Retail sales of motorcycles and parts |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 110,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 : SNH BUMI CORPORATION SDN. BHD.
Other style / Business name : THE BIG BIKE SHOP
Business address : No. 60G, Jalan Suria Puchong 1
Pusat Perniagaan Suria
(Puchong Gateway)
Town : Puchong
Province : Selangor Darul Ehsan
Zip/postal code : 47110
Country : Malaysia
Tel : +60 3 89449822
Fax : +60 3 89440322
Email : info@snhgroup.biz
Website : www.thebigbikeshop.com.my
Registered address : No. 39-1,Jalan Pinggiran 1A/1
Pinggiran
Batu Caves
Town : Batu Caves
Province : Selangor Darul Ehsan
Zip/postal code : 68100
Country : Malaysia
Summary details
Executive Summary
Date founded or registered : 26/04/2005
Legal form : Private Company Limited By Shares
Chief executive : Mohd Nasharuddin Bin Che Dan
Issued & paid up capital : MYR 1,000,000
Sales turnover : MYR 26,781,220 (Non-Consolidated 12
months, 30/06/2010)
Net income : MYR 229,670 (Non-Consolidated 12
months, 30/06/2010)
Total fixed assets : MYR 2,435,343 (Non-Consolidated 12 months, 30/06/2010)
Line of business : Retail sales of motorcycles and parts.
Staff employed : 10 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is declining
Management experience : Management is inadequately experienced
Financial performance : Financial performance is poor
Organization structure : Organizational structure is flawed
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 110,000.
Credit amount asked : Not Described
Statutory details
Registry Data
Registration date : 26/04/2005
Legal form : Private Company Limited By Shares
Registration no : 689482-U
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 : Mohd
Nasharuddin Bin Che Dan
Designation : Managing Director
Board of directors / other
appointments
Appointments
Name : Mohd Nasharuddin Bin Che Dan
Designation : Director and Company Secretary
Identification
no : 740520-02-5767
Appointment
date : 20/02/09
Address : No.42 Jalan P9B1/15
Presint 9
62250 Putrajaya W.P. Putrajaya Malaysia
Name : Shahrin Bin Shamsudin
Designation : Director
Identification
no : 740621-01-5031
Appointment
date : 26/04/05
Address : 34, Jalan Kiambang
Taman Perdana
83000 Batu Pahat Johor Darul Takzim Malaysia
Staff employed : 10
employees
Key Advisors
Auditors : MOHD NIZARUDDIN & CO.
8-3B, Tingkat 3,Plaza Citra
Jalan Citra
43000 Kajang Selangor Darul Ehsan 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 1,000,000
Paid up capital : MYR 1,000,000
ownership / shareholders
How listed : Full List
Composition
Shareholder name Shahrin Bin Shamsudin
Address 34, Jalan Kiambang
Taman Perdana
83000 Batu Pahat Johor Darul Takzim Malaysia
No. of shares 450,000 Ordinary Shares
Shareholder name Nahariah Binti Mohd Noordin
Address Malaysia
No. of shares 50,000 Ordinary Shares
Shareholder name Mohd Nasharuddin Bin Che Dan
Address No.42 Jalan P9B1/15
Presint 9
62250 Putrajaya W.P. Putrajaya Malaysia
No. of shares 500,000 Ordinary Shares
Related companies & corporate Affiliations
Structure
Name : SNH GLOBAL MARITIME SDN. BHD.
Affiliation type : Associate
Address : Malaysia
Name : BIG BIKE RENTALS & TOURS (MALAYSIA) SDN. BHD.
Affiliation type : Associate
Address : Malaysia
Name : HAJ TRADING & TRANSPORTATION SDN. BHD.
Affiliation type : Associate
Address : Malaysia
Bank & mortgages
Bank Details
Name of bank : Malayan Banking Berhad (Maybank)
Address : Malaysia
Account details : Current Account
Name of bank : Alliance Bank Malaysia Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Kuwait Finance House
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 : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None reported.
Others : None reported.
financial data
Description
Source of financial statement : Provided
by the Subject
Financial statement date : 30/06/10
Type of accounts : Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.20 as of 03-10-2011
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 : 30/06/10 30/06/09
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Length of
accounts : |
12 months |
12 months |
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26,781,220 |
12,375,310 |
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Gross profit : |
1,089,352 |
681,615 |
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Operating profit : |
317,712 |
422,915 |
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Profit before
tax : |
301,460 |
422,915 |
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Net income : |
229,670 |
337,610 |
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Non current
assets : |
572,802 |
45,070 |
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Current assets : |
1,862,541 |
2,492,361 |
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Inventories : |
580,976 |
0 |
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Total assets : |
2,435,343 |
2,537,431 |
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Current
liabilities : |
657,918 |
1,207,368 |
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Non current
liabilities : |
217,692 |
0 |
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Total
liabilities : |
875,610 |
1,207,368 |
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Share equity : |
1,559,733 |
1,330,063 |
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Retained earning : |
559,733 |
330,063 |
Comments : The Subject has been exempted from
filling their financials since 2007.
The above audited financial statement was provided by Mr. Mohd
Nasharuddin Bin Che Dan.
Operation details
Main activities : The Subject main activities are retail sales of motorcycles and parts.
Product & services Motorcycles parts and accessories
Helmet and apparels
Aprilia Motorcycles
BMW Motorcycles
Buell Motorcycles
Moto Guzzi Motorcycles
Suzuki Motorcycles
Triumph Motorcycles
Yamaha Motorcycles
Kawasaki Motorcycles
KTM Motorcycles
Can-Am Motorcycles
Ducati Motorcycles
Harley Davidson Honda Motorcycles
Husqvarna Motorcycles
Brand Harley
Ducati
Honda
Aprilia
BMW
Suzuki
Purchases
International : Mainly parts from United States, United
Kingdom, Italy, Spain
Sales
Local : Yes
International : No exports.
Property & Assets
Premises The Subject operates from
premises located at the verified heading address consisting retail showroom,
warehouse and administrative office.
Branches : None reported.
Summarized country risk
Gross Domestic Products (GDP) & Economic
Overview
Central bank Central Bank of Malaysia
Reserve of foreign exchange & gold US$136.3 billion as of 29 August 2011
Gross domestic product - GDP US$ 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$ 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%, HongKong
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
Sales Term
Local : Cash, Hire purchase
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.93 |
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UK Pound |
1 |
Rs.76.52 |
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Euro |
1 |
Rs.66.65 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.