MIRA INFORM REPORT
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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
HOCK HIN (MUAR) RUBBER CO. SENDIRIAN BERHAD. |
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Registered Office : |
43, Jalan Maharani, Muar,
Johor Darul Takzim, postal code
84000 |
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Country : |
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Financials (as on) : |
31.05.2011 |
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Date of Incorporation : |
17.12.1969 |
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Com. Reg. No.: |
9152-M |
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|
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Legal Form : |
Private Company Limited By
Shares |
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Line of Business : |
Manufacturing and trading
of rubber |
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No. of Employees : |
120 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,500,000 |
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Status : |
Good |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Malaysia |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : HOCK HIN (MUAR) RUBBER CO.
SENDIRIAN BERHAD.
Business address : 43, Jalan Maharani
Town : Muar
Province : Johor Darul Takzim
Zip/postal code : 84000
Country : Malaysia
Tel : +60 6 9521121 / 9527929
Fax : +60 6 9526196
Email : hhrub@tm.net.my
Registered address : 43, Jalan Maharani
Town : Muar
Province : Johor Darul Takzim
Zip/postal code : 84000
Country : Malaysia
Executive Summary
Date founded or registered : 17/12/1969
Legal form : Private Company
Limited By Shares
Chief executive : Khoo Guan Leng
Issued & paid up capital
: MYR 9,000,000
Sales turnover : MYR
592,122,338 (Non-consolidated 12 months, 31/05/2011)
Net income : MYR 4,537,059
(Non-consolidated 12 months, 31/05/2011)
Total fixed assets : MYR 130,424,455
(Non-consolidated 12 months, 31/05/2011)
Line of business : Manufacturing and
trading of rubber.
Staff employed : 120 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is
consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 1,500,000
Credit amount asked : Not described.
Registry Data
Registration date : 17/12/1969
Legal form : Private Company Limited By
Shares
Registration no 9152-M
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Khoo Guan Leng
Designation : Managing Director
Name : Foo Say Tuan
Designation : General Manager
Name : Khoo Soi Hong
Designation : Financial Manager
Appointments
Name : Foo Say Tuan
Designation : Director
Identification no : 490312-01-5661
Appointment date : 24/05/02
Address : 567, Taman Bahagia
Jalan
Abdul Rahman
84000 Muar
Johor
Darul Takzim
Malaysia
Name : Khoo Guan Leng
Designation : Director
Identification no : 500101-01-5481
Appointment date : 01/03/75
Address : 11-2, Jalan Majidi
84000 Muar
Johor
Darul Takzim
Malaysia
Name : Khoo Soi Hong
Designation : Director
Identification no : 550304-01-5196
Appointment date : 24/05/02
Address : C/o HOCK HIN (MUAR) RUBBER
CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
Name : Khoo Kwee Kwang
Designation : Director
Identification no : 721229-01-5949
Appointment date : 24/05/02
Address : C/o HOCK HIN (MUAR) RUBBER
CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
Name : Yeo Yan
Designation : Company Secretary
Identification no : 450927-01-5469
Appointment date : 06/06/75
Address : 656D, Jalan Ujong Pasir
75050
Melaka Raya
Melaka
Malaysia
Staff employed : 120 employees
Key Advisors
Auditors : YEO & PIONG
Room 602,
6th Floor
Bangunan
Toong Hsing Loong
26 Jalan
Petaling
50000
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Composition
Authorized Capital : MYR 10,000,000
No of shares : 10,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 9,000,000
Paid up capital : MYR
9,000,000
How listed : Full List
Composition
Shareholder name : Khoo Kwee Kwang
Address : C/o HOCK HIN
(MUAR) RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 1,014,000 Ordinary
Shares
Shareholder name : CHIAT LEE (MUAR) PLANTATION
BHD.
Address : 43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 1,350,000 Ordinary
Shares
Shareholder name : Khoo Kai Yong
Address : C/o HOCK HIN (MUAR)
RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 100,000 Ordinary
Shares
Shareholder name : Khoo Kwee Seng
Address : C/o HOCK HIN
(MUAR) RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 291,000 Ordinary
Shares
Shareholder name : HOE LEE (MUAR) PLANTATIONS
BERHAD.
Address : 43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 480,000 Ordinary
Shares
Shareholder name : Khoo Guan Leng
Address : 11-2, Jalan
Majidi
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 5,194,000 Ordinary
Shares
Shareholder name : Khoo Kai Chun
Address : C/o HOCK HIN
(MUAR) RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 100,000 Ordinary
Shares
Shareholder name : Ku Guan Tiam @ Khoo Guan Tiam
Address : C/o HOCK HIN
(MUAR) RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 180,000 Ordinary
Shares
Shareholder name : Khoo Kwee Keong
Address : C/o HOCK HIN
(MUAR) RUBBER CO. SENDIRIAN BERHAD.
43, Jalan
Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
No. of shares : 291,000 Ordinary
Shares
RELATED COMPANIES
Structure
Name : HOE LEE (MUAR)
PLANTATIONS BERHAD.
Affiliation type : Shareholder
Address : 43, Jalan Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
Name : CHIAT LEE (MUAR) PLANTATION
BHD.
Affiliation type : Shareholder
Address : 43, Jalan Maharani
84000 Muar
Johor
Darul Takzim
Malaysia
Bank Details
Name of bank : Malayan Banking Berhad (Maybank)
Address : Malaysia
Account details : Current Account
Name of bank : United Overseas Bank (M) Bhd
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: 14-10-1972
Name of Chargee: THE UNITED
MALAYAN BANKING CORP
Charge Status: FULLY
SATISFIED
Total of Charge: 120,000.00
Date of Creation: 08-07-1978
Name of Chargee: UNITED
MALAYAN BANKING CORPBHD
Charge Status: FULLY
SATISFIED
Total of Charge: 1,100,000.00
Date of Creation: 18-06-1981
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 750,000.00
Date of Creation: 18-08-1982
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 1,600,000.00
Date of Creation: 09-08-1982
Name of Chargee: CHUNG KHIAW BANK
MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 200,000.00
Date of Creation: 14-02-1984
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 200,000.00
Date of Creation: 14-02-1984
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 450,000.00
Date of Creation: 23-01-1986
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 1,390,000.00
Date of Creation: 12-12-1987
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 1,390,000.00
Date of Creation: 12-12-1987
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge: 6,600,000.00
Date of Creation: 18-10-1990
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge:
10,240,000.00
Date of Creation: 18-10-1990
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
Total of Charge:
10,240,000.00
Date of Creation: 18-10-1990
Name of Chargee: CHUNG KHIAW
BANK MALAYSIA BHD
Charge Status: UNSATISFIED
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 : 31/05/11
Type of accounts : Full audited
Currency Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR
3.07 as of 09-04-2012
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 : 31/05/11 31/05/10
Length of accounts : 12 months 12
months
Sale turnover / Income : 592,122,338 399,785,651
Profit before tax : 6,172,081 4,563,069
Net income : 4,537,059 3,317,221
Non current assets : 17,073,446 16,509,850
Current assets : 113,351,009 101,861,124
Total assets : 130,424,455 118,370,974
Current liabilities : 93,781,071 86,019,753
Non current liabilities : 713,016 507,913
Total liabilities : 94,494,087 86,527,666
Share equity : 35,930,368 31,843,308
Retained earning : 26,930,368 22,533,686
Main activities : The Subject is engaged
in manufacturing and trading of rubber.
The Subject trades around 40,000 - 50,000 tonnes of rubber per
annum.
Product & services : SMR 5, SMR GP, SMR 10, SMR 20,
SMR 10CV, SMR 20CV
Brand : HR
Purchases
International : Mainly from
Indonesia, Thailand, India, Vietnam
Sales
Local : Yes
International : Worldwide
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:
8KM, Jalan
Bakri
84200 Muar
Johor
Darul Takzim
Malaysia
Tel: +60 6
9866253
Fax: +60 6
9869751
Intellectual property : ISO 9001:2000
ISO/IEC
17025
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$134.8 billion as of 15 march 2011
Gross domestic product - GDP : US$ 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: 10.2% industry: 421% services: 47.8%
Inflation 2008: 5.4%
2009: 0.6%
2010: 1.7%
2011: 2.8%
Unemployment 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 (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 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
Local : Prepayment,
Document against payment, Bank transfer, Credit up to 90 days
International : L/C, Document
against payment, Telegraphic transfer, Credit up to 90 days
Sales Term
Local : Prepayment,
Document against payment, Bank transfer, Credit up to 90 days
International : L/C, Document
against payment, Telegraphic transfer, Credit up to 90 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.51.55 |
|
UK Pound |
1 |
Rs.81.95 |
|
Euro |
1 |
Rs.67.57 |
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 |
|
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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.