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Report Date : |
05.04.2012 |
|
|
|
|
Tel. No.: |
60 3 22877978 |
|
Fax No.: |
60 3 22829789 |
IDENTIFICATION DETAILS
|
Name : |
DR
HARVEST SDN. BHD. |
|
|
|
|
Registered Office : |
A-29-2,
Level 29, Menara UOA Bangsar, No. 5, Jalan Bangsar Utama 1, Kuala Lumpur,
Wilayah Persekutuan 59000 |
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|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
19.07.2010 |
|
|
|
|
Com. Reg. No.: |
908509-A |
|
|
|
|
Legal Form : |
Private
Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacturing and trading of various kinds of fertilizer. |
|
|
|
|
No. of Employees : |
30 |
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
20,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
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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 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 |
Verified
Address
Subject
name : DR HARVEST SDN. BHD.
Business
address : A-29-2, Level 29, Menara
UOA Bangsar
No. 5, Jalan Bangsar Utama 1
Town :
Kuala Lumpur
Province
: Wilayah Persekutuan
Zip/postal
code : 59000
Country
: Malaysia
Tel : +60 3 22879978
Fax : +60 3 22829789
Website
: www.drharvest.com
Registered
address : C/o SMI CORPORATE SERVICES
SDN. BHD.
63A, Jalan SS 25/2
Taman Bukit Emas
Town :
Petaling Jaya
Province
: Selangor Darul
Ehsan
Zip/postal
code : 47301
Country
: Malaysia
Executive
Summary
Date
founded or registered : 19/07/2010
Legal
form : Private
Company Limited By Shares
Chief
executive : Kuo
Ming-Yuan
Issued
& paid up capital : MYR
2,857,000
Sales
turnover : MYR 97,416
(Non-consolidated 6 months ended, 31/12/2010)
Net
income : MYR
-278,268 (Non-consolidated 6 months ended, 31/12/2010)
Total fixed assets : MYR
1,836,772 (Non-consolidated 6 months ended, 31/12/2010)
Line
of business : Trading
and manufacturing of fertilizer.
Staff
employed : 30
employees
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 gradually declining
Organization
structure : Organizational
structure is acceptable
Detrimental
: No detrimental records
found
Payment
history : No payment delays
noted
Credit
amount suggestion : USD 20,000
Credit
amount asked : USD 125,000
Registry
Data
Registration
date : 19/07/2010
Legal
form : Private
Company Limited By Shares
Registration
no 908509-A
Registered
authority : Companies
Commission of Malaysia
Registry
status : Live/Active
Previous
name : None
reported.
Change
of legal form : None
reported.
Key
Management
Name :
Kuo Ming-Yuan
Designation
: Managing Director
Name :
Yang Fong-Chang
Designation
: Director
Appointments
Name :
Yang Fong-Chang
Designation
: Director
Identification
no : 210512897
Appointment
date : 04/09/10
Address
: No B-10-2, Menara
Bangsar
299, Jalan Maarof
59000 Bangsar Kuala
Lumpur Wilayah
Persekutuan
Malaysia
Name :
Kuo Ming-Yuan
Designation
: Director
Identification
no : 213193419
Appointment
date : 19/07/10
Address
: No B-10-2, Menara
Bangsar
299, Jalan Maarof
59000 Bangsar Kuala
Lumpur Wilayah
Persekutuan
Malaysia
Name :
Chong Sook Furn
Designation
: Company Secretary
Identification
no : 621225-08-5300
Appointment
date : 19/07/10
Address
: No. 65, Jalan SS
22/22
Damansara Jaya
47400 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Staff
employed : 30 employees
Key Advisors
Auditors
: ADRIANYEO
63B, Jalan SS 25/2
Taman Bukit Emas
47301 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Composition
Authorized
Capital : MYR 5,000,000
No of
shares : 5,000,000 Ordinary
Shares
Share
par value : MYR 1
Issued
capital : MYR 2,857,000
Paid
up capital : MYR 2,857,000
Changed in capital : The
Subject increased its share capital from MYR 1,000,000 to MYR 5,000,000 on
14-12-2010.
How
listed : Full List
Composition
Shareholder
name : YANG' S DEVELOPMENT
CORPORATION
Address
: Britannia House 22,
2nd Floor
Cator Road
Bandar Seri Begawan BS 8811
Brunei Darussalam
No. of
shares : 1,999,998 Ordinary
Shares
Shareholder
name : HOCK HENG TECHNOLOGY SDN.
BHD.
Address
: Malaysia
No. of
shares : 171,400 Ordinary
Shares
Shareholder
name : Kuo Ming-Yuan
Address
: No B-10-2, Menara
Bangsar
299, Jalan Maarof
59000 Bangsar Kuala
Lumpur Wilayah
Persekutuan
Malaysia
No. of
shares : 685,602 Ordinary
Shares
Structure
Name :
YANG'S
DEVELOPMENT CORPORATION
Affiliation
type : Parent Company
Address
: Britannia House 22,
2nd Floor
Cator Road
Bandar Seri Begawan BS 8811
Brunei Darussalam
Comments
: Registered in Brunei
Darussalam.
Name :
HOCK HENG
TECHNOLOGY SDN. BHD.
Affiliation
type : Shareholder
Address
: Malaysia
Name :
NAM LIONG
ENTERPRISE CO., LTD.
Affiliation
type : Associate
Address
: 10 Lane 41,
Chou-Wei Street
Yen-Chou Li, Yung-Kang City
Tainan Hsien
Taiwan
Related
companies and corporate
affiliations
comments
: Other companies of the Nam Liong Group, Taiwan should be
considered affiliates of the Subject.
Bank Details
Name
of bank : Malayan Banking
Berhad (Maybank)
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.
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
3.06 as of 03-04-2012
Summarized
Financial Information
Consolidation
type : Non Consolidated
Currency
: Malaysia,
Ringgit (MYR)
Denomination
: (x1) One
Date
of financial year end : 31/12/10
Length
of accounts : 6 months
Sale
turnover / Income : 97,416
Gross
profit : -106,386
Profit
before tax : -278,268
Net
income : -278,268
Non
current assets : 722,233
Current
assets : 1,114,539
Total
assets : 1,836,772
Current
liabilities : 563,723
Non
current liabilities : 51,317
Total
liabilities : 615,040
Share
equity : 1,221,732
Retained
earning : -278,268
Comments : Comparative
financial information is not available due to the Subject's recent date of
establishment.
Main activities : The
Subject is engaged in manufacturing and trading of various kinds of fertilizer.
Product
& services : Protector
Microking
Terminator
Bio Organic Fertilizer
Earth’s Treasure
Blending Oil
Chitosan
Amino-P
Daya Hijau
Neem Oil
Brand
: Dr
Harvest
Purchases
International
: India,
Taiwan
Sales
Local
: Yes
International
: Taiwan,
Cambodia
Property
& Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office.
Branches
: In
addition, the Subject operates from production facilities located at:
Kaw Perindustrian Bandar Tenggara
Kulai 81000
Johor Darul Takzim
Malaysia
Tel: +60 7 8961646
Other property : Total
NBV of property, plant and equipment as of 31-12-2010 was MYR 722,233.
Gross
Domestic Products (GDP) & Economic Overview
Central
bank : Central
Bank of Malaysia
Reserve
of foreign exchange & gold : US$
134.8 billion as of 15 March 2012
Gross
domestic product - GDP : US$
247.781 billion
GPP
(Purchasing power parity) : US$
442.01 billion of International dollar
GDP
per capita - current prices : US$
8,624
GDP -
composition by sector : agriculture:
10.2%
industry: 42.1%
services: 47.8%
Inflation
: 2008:
5.4%
2009: 0.6%
2010: 1.7%
2011: 2.8%
Unemployment
rate : 2008:
3.3%
2009: 3.6%
2010: 3.3%
2011: 3.2%
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 Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(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 : 21 (ranking by country on a basis of 142, 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
: 55.3%
Purchase
Term
International
: Credit 60 days, Document
against payment
Sales Term
Local
: Cash, Credit up
to 60 days
International
: Prepayment
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
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.