MIRA INFORM REPORT

 

 

Report Date :           

05.09.2011

 

IDENTIFICATION DETAILS

 

Name :

UNIMED SDN. BHD

 

 

Registered Office :

C/O Eol Management Services, 32a-2, Jalan Kuchai Maju 8, Off Jalan Kuchai Lama, Kuala Lumpur, Wilayah Persekutuan Zip/Postal Code 58200

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

08.04.1981

 

 

Com. Reg. No.:

69359-V

 

 

Legal Form :

Private Limited Company Limited By Shares

 

 

Line of Business :

Importation and wholesale of pharmaceutical products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Malaysia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Identification details

 

Verified Address

 

Subject name                                     :    UNIMED SDN. BHD.

Business address                               :  53, Jalan Tembaga SD 5/2B Bandar Baru Sri Damansara

Town                                                  :    Kuala Lumpur Province :                                                         Wilayah

                                                              Persekutuan Zip/postal code                                                  :    52200

Country                                              :    Malaysia

 

Tel                                                     :    +60 3 62721853

 

Fax                                                    :    +60 3 62721893

 

Email                                                 :    unimed81@tm.net.my

 

Registered address        :                       C/o EOL MANAGEMENT SERVICES

32A-2, Jalan Kuchai Maju 8

Off Jalan Kuchai Lama

 

Town                                                  :    Kuala Lumpur Province :                                                         Wilayah Persekutuan Zip/postal code                                   :    58200

Country                                                                                                      :        Malaysia

 

 

Summary details

 

Executive Summary

 

Date founded or registered                     :   08/04/1981

 

Legal form                                            :   Private Limited Company Limited By Shares

 

Chief executive                                      :   Rayar A/l Sowrimuthu

 

Issued & paid up capital                         :   MYR 788,000

 

Sales turnover                                        :   MYR 14,050,163 (Non-consolidated 12 months, 31/03/2010)

Net income                                            :   MYR 134,517 (Non-consolidated 12 months, 31/03/2010)

Total fixed assets                                   :   MYR 16,897,107 (Non-consolidated 12 months, 31/03/2010)

Line of business                         :   Importation and wholesale of pharmaceutical products.

Staff employed                                                                                               :   41 employees

 

 

 

Credit risk opinion

 

Company Analysis

 

Country risk                               Country risk is minimal

Operation trend                          Operational trend is developing

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

Comments                                It is advisable to conduct business dealing on prepayment or L/C's basis for

larger credit transaction than suggested.

 

We took consideration on the years of establishment, employees, nature of business and financial information.

 

 

Statutory details

 

Registry Data

 

Registration date                                   08/04/1981

Legal form                                            Private Limited Company Limited By Shares

Registration no                                      69359-V

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                           :      Rayar A/l Sowrimuthu

 

Designation                   :      Director

 

Name                           :      Thirumalai @ Munuswamy

 

Designation                   :      Director

 

Name                           :      Mohd Amiruddin Arumugam Bin Abdullah

 

Designation                                                   :            Director

Board of directors / other appointments

 

Appointments

 

Name                           Rayar A/l Sowrimuthu

Designation                   Director

 

Identification no              591128-07-5595

Appointment date          12/11/02

 

Address                        No. 32, Jalan Ara SD 7/1

Bandar Sri Damansara

52200 Kuala Lumpur Wilayah Persekutuan Malaysia

Name                           Thirumalai@Munuswamy

Designation                   Director

Identification no             491007-71-5041

Appointment date          03/10/87

 

Address                        No. 30, Lorong Batu Nilam 15B Bandar Bukit Tinggi

41000 Klang

Selangor Darul Ehsan

Malaysia

 

Name                           Mohd Amiruddin Arumugam Bin Abdullah

Designation                   Director

Identification no             470306-10-5451

Appointment date          25/09/82

 

Address                        A10/2/1, Jalan Kampung Pandan

55100 Kuala Lumpur Wilayah Persekutuan Malaysia

 

Name    :                       Edward Ophir Lee

Designation       :           Company Secretary

Identification no  :           721228-04-5089

Appointment date                    08/09/04

 

Address                        12A, Jalan Khoo Teik Ee

Off Jalan Imbi

55100 Kuala Lumpur Wilayah Persekutuan Malaysia

 

Staff employed            41 employees

 

Key Advisors

 

 

Auditors                         INPANA & ASSOCIATES

568-9-21, 9th Floor

Kompleks Mutiara

3 1/2 Mile , Jln Ipoh

51200 Kuala Lumpur

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 788,000

 

Paid up capital                                      :   MYR 788,000

 

Changed in capital                                 The Subject increased its share capital from MYR 500,000 to MYR

1,000,000 on 30-03-2006.

 

 

Ownership / shareholders

 

How listed         :   Full List

 

Composition

 

Shareholder name                      Laxshimi A/p Kartha Naidu

 

Address                                    378, Jalan E 2/7

Taman Ehsan

Kepong 52100

Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                             340,362 Ordinary Shares

 

Shareholder name                      Mohd Amiruddin Arumugam Bin Abdullah

 

Address                                    A10/2/1, Jalan Kampung Pandan

55100 Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                             221,669 Ordinary Shares

Shareholder name                      Rayar A/l Sowrimuthu

Address                                    No. 32, Jalan Ara SD 7/1

Bandar Sri Damansara

52200 Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                             137,281 Ordinary Shares


Shareholder name          Kolandahmmal A/p Savarimuthu

Address                        378, Taman Usaha Ehsan

Taman Desa Jaya

52100 Kepong Kuala Lumpur Wilayah Persekutuan

Malaysia

No. of shares                 32,029 Ordinary Shares

 

Shareholder name          Subramaniam A/l Govindasamy

Address                        No. 8, Lorong Masria 4

Taman Bunga Raya

Setapak 53000

Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                 18,011 Ordinary Shares

 

Shareholder name          Lourthu Mary A/p Savarimuthu

Address                        No. 162, Jalan Bunggor

Off Jalan Kastam

42000 Port Klang Selangor Darul Ehsan Malaysia

No. of shares                 15,044 Ordinary Shares

 

Shareholder name          Thirumalai @ Munuswamy

Address                        No. 30, Lorong Batu Nilam 15B

Bandar Bukit Tinggi

41000 Klang

Selangor Darul Ehsan

Malaysia

No. of shares                 12,932 Ordinary Shares

 

Shareholder name          Geetha A/p C R Narasimharaj

Address                        8, Jalan Sarjana Satu

Taman Connaught

6th Mile, Cheras 56000

Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                 5,336 Ordinary Shares

 

Shareholder name          Irudaymary A/p Savarimuthu

Address                        378, Taman Usaha Ehsan

Taman Desa Jaya

52100 Kepong Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares                          5,336 Ordinary Shares

 

 

Related companies & corporate affiliations

 

Structure

Name                            KCK PHARMACEUTICAL INDUSTRIES SDN BHD

Affiliation type                Associate

Address                        Plot 61 Bayan Lepas Industrial Park Phase 4

11900 Bayan Lepas

Penang

Malaysia

 

Comments                    Manufactures pharmaceutical finished products for supplies to hospitals, clinics and

pharmacies.

 

 

Bank & mortgages

 

Bank Details

 

Name of bank                                       :   Public Bank 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: 80,000.00

Date of Creation: 22-02-1984

Name of Chargee: UNITED ASIAN BANK BHD Charge Status: SATISFIED

 

Total of Charge: 150,000.00

Date of Creation: 23-03-1994

Name of Chargee: BANK OF COMMERCE M BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 150,000.00

Date of Creation: 18-11-1997

Name of Chargee: BANK OF COMMERCE M BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 90,000.00

Date of Creation: 13-12-1996

Name of Chargee: PUBLIC BANK BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 366,000.00

Date of Creation: 22-02-2002

Name of Chargee: PUBLIC BANK BERHAD Charge Status: UNSATISFIED

 

Total of Charge: OPEN CHARGE Date of Creation: 23-01-2003

Name of Chargee: PUBLIC BANK BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 250,000.00

Date of Creation: 07-01-2005

Name of Chargee: BUMIPUTRACOMMERCE BANK BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 200,000.00

Date of Creation: 11-08-2005

Name of Chargee: PUBLIC BANK BERHAD Charge Status: UNSATISFIED

 

 

Total of Charge: OPEN CHARGE Date of Creation: 26-06-2006

Name of Chargee: BUMIPUTRA-COMMERCE BANK BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 3,600,000.00

Date of Creation: 18-11-2008

Name of Chargee: PUBLIC BANK BERHAD Charge Status: SATISFIED

 

 

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                         :   31/03/10

 

Type of accounts                                    :   Full audited

 

Currency                                                :   Malaysia, Ringgit (MYR)

 

Exchange rate                                        :   1 USD = MYR 2.98 as of 30-08-2011

 

 

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                    :

31/03/10

31/03/09

Length of accounts                             :

12 months

12 months

Sale turnover / Income                         :

14,050,163

11,181,863

Gross profit                                        :

3,547,525

3,376,425

Operating profit                                   :

545,060

390,196

Profit before tax                                  :

236,601

198,324

Net income                                        :

134,517

117,503

Non current assets                             :

8,374,451

6,903,828

Current assets                                    :

8,522,656

7,052,528

Inventories                                          :

1,241,407

1,201,933

Total assets                                       :

16,897,107

13,956,356

Current liabilities                                 :

10,088,508

8,446,307

Total liabilities                                    :

15,149,833

12,343,599

Share equity                                       :

1,747,274

1,612,757

Retained earning                                 :

959,274

824,757

 

 

Main activities                                    :   The Subject main activities are importation and wholesale of pharmaceutical products.

 

 

Purchases

 

International                                          :   Europe and Asia countries

 

 

Sales

 

Local                                                    :   Yes

 

International                                          :   Asia countries

 

 

Property & Assets

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

Branches                                              :   None reported.

+Other property                                     :   Total NBV of property, plant and equipment as of 31-03-2010 was

MYR 8,365,701.

Summarized country risk

 

Gross Domestic Products (GDP) & Economic Overview

 

Central bank                                         :   Central Bank of Malaysia

 

Reserve of foreign exchange & gold         :   US$ 136.1 billion as of 15 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: 54.2%

 

Government bond ratings                                    Standard & Poor's: A-/Stable/A-2

Moody's rating: A3

Moody’s Outlook : STA

 

Market Value of Publicity 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%

 

 

Purchase Term

 

International                                          :   L/C, Credit 30-60 days

 

 

Sales Term

 

Local                                                    :   Cash against document, Credit 30-60 days

 

International                                          :   Prepayment, 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.46.05

UK Pound

1

Rs.75.20

Euro

1

Rs.66.48

 

 

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.