MIRA INFORM REPORT
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Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
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Name : |
QUALITY FOOD TRADING |
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Registered Office : |
No. 1-3 Jalan Solaris 2, Solaris Mont Kiara, Kuala Lumpur, Wilayah Persekutuan, Zip/postal code 50480 |
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Country : |
Malaysia |
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Date of Incorporation : |
05.07.2011 |
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Com. Reg. No.: |
002052440-T |
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Legal Form : |
Sole
Proprietorship Concern |
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Line of Business : |
Import
and trading of vegetables,
fruits and foodstuff |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 : QUALITY FOOD TRADING
Business address : No. 1-3 Jalan Solaris 2
Solaris Mont Kiara
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50480
Country : Malaysia
Tel : +60 3 62099786
Fax : +60 3 62099785
Email : qualityfoodtrade@gmail.com
Registered address : No. 1-3 Jalan Solaris 2
Solaris Mont Kiara
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50480
Country : Malaysia
Summary details
Executive Summary
Date
founded or registered : 05/07/2011
Legal
form : Sole Proprietorship
Chief
executive : Lachamy A/P Subarmaniam
Issued
& paid up capital : Not required
Line of
business : Import and trading of vegetables,
fruits and foodstuff.
Staff
employed : 16 employees
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up phase
Management experience : 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 : Fully secured terms.
Credit amount asked : Not described.
Comments : It is advisable to conduct all business dealing on prepayment or L/C due to the
fact of the Subject's recent date of establishment.
Statutory details
Registry Data
Registration
date : 05/07/2011
Legal
form : Sole Proprietorship
Registration
no : 002052440-T
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 : Lachamy
A/P Subarmaniam
Designation : Managing Proprietor
Name : Liaqat
Ali
Designation : Director, Import & Export
Board of directors / other appointments
Appointments
Name : Lachamy A/P Subarmaniam
Designation : Managing Proprietor
Identification no : 601219-10-5928
Appointment date : 05/07/11
Address : Jalan Ipoh Batu 3
River City Condo 5-3-11
52100 Kuala Lumpur Wilayah Persekutuan Malaysia
Biography : Born on 19-12-1960.
Staff employed : 16 employees
Share capital
Composition
Authorized
Capital : Not required
Issued
capital : Not required
Paid up
capital : Not required
ownership / shareholders
How listed : Full List
Composition
Shareholder name : Lachamy A/P Subarmaniam
Address : Jalan Ipoh Batu 3
River City Condo 5-3-11
52100 Kuala Lumpur Wilayah Persekutuan Malaysia
% of shares : 100%
Related companies & corporate Affiliations
Structure
Related
companies and corporate affiliations comments : None Reported
Bank & mortgages
Bank Details
Name of
bank :
AmBank (M) 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 : None
reported.
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
financial data
Description
Comments :
Due to the Subject's recent date of establishment,
financial information is not available.
In
addition, the Subject is a Sole Proprietorship and is not required to revealed
their financial information in the future.
We
contacted Mr. Liaqat Ali and he advised that monthly turnover is between USD
600,000 to USD 700,000.
Operation details
Main activities : The Subject is engaged in import and trading of vegetables, fruits and foodstuff.
Purchases
International : China, India, Bangladesh, Egypt
Sales
Local : Yes
International : India, Pakistan
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of
administrative office.
Branches : None reported.
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$ 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 : Advance telegraphic transfer, Document
against payment
Sales Term
Local : Credit 14-21 days
International : Prepayment, Credit 14-21 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
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Indian Rupees |
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US Dollar |
1 |
Rs.49.18 |
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UK Pound |
1 |
Rs.76.65 |
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Euro |
1 |
Rs.66.63 |
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.