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Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
KIRAN GEMS SDN.
BHD. |
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|
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Registered Office : |
C/o CHAMP CORPORATE HOUSE SDN. BHD. Lot 1.02, 1st Floor Acctax
Corporate Centre No. 2, Jalan Bawasah
Pulau Pinang 10050 |
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Country : |
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Financials (as on) : |
30.09.2010 |
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|
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Date of Incorporation : |
14.10.1997 |
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Com. Reg. No.: |
449909-X |
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Legal Form : |
Private Company Limited By Shares |
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|
|
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Line of Business : |
Import and retail of diamonds, precious stones and semi precious stones. |
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No. of Employees : |
1 employee |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : KIRAN GEMS SDN. BHD.
Business address :
No. 73 Ah Quee
Street
Town : Georgetown
Province : Pulau
Pinang
Zip/postal code : 10200
Country : Malaysia
Tel : +60 4 2635575
Registered address
: C/o CHAMP CORPORATE HOUSE SDN. BHD.
Lot 1.02, 1st Floor
Acctax Corporate Centre
No. 2, Jalan Bawasah
Town : Georgetown
Province : Pulau
Pinang
Zip/postal code : 10050
Country : Malaysia
Executive Summary
Date founded or
registered : 14/10/1997
Legal form : Private Company
Limited By Shares
Chief executive : Abdul Rahman
Bin Mohamed Ibrahim
Issued & paid
up capital : MYR 1,000,000
Sales turnover : MYR 5,561,467 (Non-consolidated 12
months, 30/09/2010)
Net income : MYR 12,696 (Non-consolidated 12
months, 30/09/2010)
Total fixed assets
: MYR 1,471,997
(Non-consolidated 12 months, 30/09/2010)
Line of business :
Import and retail of
diamonds, precious stones and semi precious stones.
Staff employed : 1 employee
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is fair
Organization
structure : Organizational structure
is stable
Detrimental
: No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date
: 14/10/1997
Legal form : Private Company
Limited By Shares
Registration no 449909-X
Registered
authority : Companies
Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Abdul Rahman
Bin Mohamed Ibrahim
Designation : Managing Director
Name : Noraini Binti Abdul Jalil
Designation : Director
Name : Tan Kok Seong
Designation : Director
Name : Patel Rakeshbhai
Somabhai
Designation : Director
Name : Lathiya Himatbhai Popatbhai
Designation : Director
Appointments
Name : Noraini
Binti Abdul Jalil
Designation : Director
Identification no
: 651010-07-5460
Appointment date :
28/10/02
Address : No. 1, Jalan
Tan Iu Ghee
10460 Georgetown
Pulau Pinang
Malaysia
Name : Tan Kok
Seong
Designation : Director
Identification no
: 740218-07-5587
Appointment date :
04/01/00
Address : No. 23, Lebuhraya
Halia
10470 Georgetown
Pulau Pinang
Malaysia
Name : Abdul Rahman Bin Mohamed Ibrahim
Designation : Director
Identification no
: 741008-07-5735
Appointment date :
22/09/98
Address : G-13-2, Padang
Tembak Flats
11400 Ayer Itam
Pulau Pinang
Malaysia
Name : Patel Rakeshbhai Somabhai
Designation : Director
Identification no
: E2063905
Appointment date :
17/10/97
Address : 3B-15-7, Tanjung Park
Jalan Tan Jung Tokong
10470 Georgetown
Pulau Pinang
Malaysia
Name : Lathiya
Himatbhai Popatbhai
Designation : Director
Identification no
: E2666089
Appointment date :
19/04/04
Address : 500-3-2, Tanjung Tiara
Jalan Tanjung Tiara
11200 Tanjung Bungah
Pulau Pinang
Malaysia
Name : Wong Mee Choon
Designation : Company Secretary
Identification no
: 640707-07-5328
Appointment date :
01/11/07
Address : No. 35, Lebuh
Rambai 10
Paya Terubong
11500, Ayer Itam
Pulau Pinang
Malaysia
Staff employed : 1 employee
Key Advisors
Auditors : RAGENDRAN & CO
1st Floor, No. 34, Lorong Abu Siti
10400 Georgetown
Pulau Pinang
Malaysia
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
Changed in capital
: The Subject increased its share
capital from MYR 500,000 to MYR 1,000,000 on
08-05-2009.
How listed : Full List
Composition
Shareholder name : Abdul Rahman
Bin Mohamed Ibrahim
Address : G-13-2, Padang
Tembak Flats
11400 Ayer Itam
Pulau Pinang
Malaysia
No. of shares : 275,000 Ordinary Shares
Shareholder name :
Tan Kok Seong
Address : No. 23, Lebuhraya
Halia
10470 Georgetown
Pulau Pinang
Malaysia
No. of shares : 225,000 Ordinary Shares
Shareholder name :
Patel Rakeshbhai
Somabhai
Address : 3B-15-7, Tanjung Park
Jalan Tan Jung Tokong
10470 Georgetown
Pulau Pinang
Malaysia
No. of shares : 200,000 Ordinary Shares
Shareholder name :
Lathiya Himatbhai Popatbhai
Address : 500-3-2, Tanjung Tiara
Jalan Tanjung Tiara
11200 Tanjung Bungah
Pulau Pinang
Malaysia
No. of shares : 200,000 Ordinary Shares
Shareholder name :
Noraini Binti Abdul Jalil
Address : No. 1, Jalan
Tan Iu Ghee
10460 Georgetown
Pulau Pinang
Malaysia
No. of shares : 100,000 Ordinary Shares
Structure
Name : CALEE JEWELS (M) SDN.
BHD.
Affiliation type :
Associate
Address : 32-11-3A, Bukit Desa Condominium
Jalan Bukit Desa 3
Taman Desa, Old Klang Road
Kuala Lumpur 58100
Wilayah Persekutuan
Malaysia
Bank Details
Name of bank : Malayan Banking Berhad
(Maybank)
Address : Malaysia
Account details : Current Account
Name of bank : CIMB 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 : 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 : 30/09/10
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 : 30/09/10 30/09/09
Length of accounts
: 12 months 12
months
Sale turnover /
Income : 5,561,467 4,922,144
Gross profit : 317,832 326,056
Profit before tax
: 17,196 25,761
Net income : 12,696 20,261
Non current assets
: 5,930 5,121
Current assets : 1,466,067 1,438,967
Inventories : 586,372 530,162
Total assets : 1,471,997 1,444,088
Current
liabilities : 381,590
366,377
Total liabilities
: 381,590 366,377
Share equity : 1,090,407 1,077,711
Retained earning :
90,407 77,711
Main activities : The Subject is engaged is the sales
and distribution of diamonds, precious
stones and semi precious stones.
Purchases
International :
India
Sales
Local : Yes
International : None reported.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting
of administrative office.
Branches : None reported.
Other property :
Total NBV of property, plant and equipment as of 31-12-2010 was MYR 5,930.
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 :
L/C, Document against payment, Credit up to 120 days
Sales Term
Local :
Prepayment, Document against payment, Credit up to 120 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.51.20 |
|
|
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
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 SCs 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.