|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AIN MEDICARE
SDN. BHD. |
|
|
|
|
Formerly Known As : |
OPTISOL BARU SDN. BHD |
|
|
|
|
Registered Office : |
Jalan 6/44,
Kawasan Perindustrian Pengkalan Chepa 2 Kota Bharu Kelantan Darul Naim 16100 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
06.08.1982 |
|
|
|
|
Com. Reg. No.: |
88253-D |
|
|
|
|
Legal Form : |
Private Company
Limited By Shares |
|
|
|
|
Line of Business : |
Manufacturing
& distribution of pharmaceutical products. |
|
|
|
|
No. of Employees : |
600 employees
(Group) |
RATING & COMMENTS
|
MIRAs 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 2,500,000 |
|
Status : |
Satisfactory |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
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 : AIN MEDICARE SDN. BHD.
Business address :
Jalan 6/44, Kawasan
Perindustrian Pengkalan Chepa 2
Town :
Province : Kelantan Darul
Naim
Zip/postal code : 16100
Country :
Tel : +60 9
7743388 / 7741239
Fax : +60 9
7742205
Email : info@ainmedicare.com.my
Website : www.ainmedicare.com.my
Registered address
: Jalan 6/44, Kawasan Perindustrian
Pengkalan Chepa 2
Town :
Province : Kelantan Darul
Naim
Zip/postal code : 16100
Country :
Executive Summary
Date founded or
registered : 06/08/1982
Legal form : Private Company
Limited By Shares
Chief executive : Dr. Syed Ibrahim Bin Mohd
Ismail
Issued & paid
up capital : MYR 20,000,000
Sales turnover : MYR
113,117,483 (Consolidated 12 months, 31/12/2010)
Net income : MYR -2,567,500
(Consolidated 12 months, 31/12/2010)
Total fixed assets
: MYR 187,724,719
(Consolidated 12 months, 31/12/2010)
Line of business :
Manufacturing &
distribution of pharmaceutical products.
Staff employed : 600 employees (Group)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is
declining
Management
experience : Management is
reasonably experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount
suggestion : USD 2,500,000
Credit amount
asked : Not described.
Registry Data
Registration date
: 06/08/1982
Legal form : Private Company Limited By
Shares
Registration no 88253-D
Registered
authority : Companies Commission of
Registry status : Live/Active
Previous name : The Subject was established under
the name OPTISOL BARU SDN. BHD. and
changed to the
current style on 18-09-1993.
Change of legal
form : None reported.
Key Management
Name : Dr. Syed Ibrahim Bin Mohd Ismail
Designation : Chief Executive Officer
Name : Redziwan bin Saari
Designation : General Manager
Name : Faridah binti Osman
Designation : Financial Manager
Name : Muhammad Izani Bin Yaacob
Designation : Administration & Procurement Manager
Name : Mohd Bakri Bin Kasim
Designation : Production Manager
Appointments
Name : Wan Hidayah Ariff
Designation : Alternate Director
Identification no
: 761122-14-5926
Appointment date : 26/08/08
Address : 18, Lorong Titiwangsa 2
53200
Wilayah Persekutuan
Name : Dato' Wan Ariff Bin Wan
Hamzah
Designation : Director
Identification no
: 450625-03-5245
Appointment date :
18/06/91
Address : 18, Lorong Titiwangsa 2
53200
Wilayah Persekutuan
Name : Jaafar Bin Abdullah
Designation : Director
Identification no
: 490310-01-5465
Appointment date :
18/06/91
Address : 220, Jalan Jasa 25
68100,
Selangor Darul Ehsan
Name : Wan Hamimie Binti Wan
Ariff
Designation : Director
Identification no
: 710515-03-5306
Appointment date :
10/06/05
Address : 9, Lorong Titiwangsa 2
53200
Wilayah Persekutuan
Name : Yee Chiong Foon
Designation : Company Secretary
Identification no
: 510619-10-5616
Appointment date :
18/06/91
Address : No. 3 Jalan SS 4/19
Kelana Jaya
47301 Petaling Jaya
Selangor Darul Ehsan
Staff employed : 600 employees (Group)
Key Advisors
Auditors : KPMG DESA MEGAT & CO.
8,
Bandar Utama
47800 Petaling Jaya
Selangor Darul Ehsan
Composition
Authorized Capital
: MYR 20,000,000
No of shares : 20,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 20,000,000
Paid up capital : MYR 20,000,000
How listed : Full List
Composition
Shareholder name :
WAN ARIFF & CO. SDN. BHD.
Address : 92, Jalan Bangsar
59200
Wilayah Persekutuan
No. of shares : 8,385,000 Ordinary Shares
Shareholder name :
TENAGA GAS PANTAI SDN. BHD.
Address : 92, Jalan Bangsar
59200
Wilayah Persekutuan
No. of shares : 4,135,000 Ordinary Shares
Shareholder name :
GAS PANTAI TIMUR SDN. BHD.
Address : 92, Jalan Bangsar
59200
Wilayah Persekutuan
No. of shares : 2,400,000 Ordinary Shares
Shareholder name :
Dr. Syed Ibrahim Bin Mohd Ismail
Address :
Kampung Demit
Kubang Kerian
16100
Kelantan
No. of shares : 2,250,000 Ordinary Shares
Shareholder name :
Dato' Wan Ariff Bin Wan Hamzah
Address : 18, Lorong Titiwangsa 2
53200
Wilayah Persekutuan
No. of shares : 1,000,000 Ordinary Shares
Shareholder name :
Nik Mahmood Bin Haji Nik Hassan
Address : No. 49,
Jalan Ulu Klang
68000 Ampang
Selangor Darul Ehsan
No. of shares : 1,000,000 Ordinary Shares
Shareholder name :
Dr. W. Mohamed @ Nik Azam Bin Wan
Hamzah
Address :
17000, Pasir Mas
Kelantan
No. of shares : 300,000 Ordinary Shares
Shareholder name :
NIK MOHAMED HOLDINGS SDN. BHD.
Address : 13 Floor, Wisma Bumi Raya
10, Jalan Raja Laut
50350
Wilayah Persekutuan
No. of shares : 200,000 Ordinary Shares
Shareholder name :
WANGCO INCORPORATED SDN. BHD.
Address : No. 5, Jalan Pahang Kecil
53200
Wilayah Persekutuan
No. of shares : 90,000 Ordinary Shares
Shareholder name :
Mohd Yusof Abdul Rahman
Address : PT 314, Jalan Kujid 7
Perumahan Desa Kujid
16100
Kelantan
No. of shares : 70,000 Ordinary Shares
Comments : Other shareholder includes:
Shareholder name: Muhammad Izani Bin Yaacob
Address: Kampung Lanchang, Kerteh,
16450
No of shares: 40,000 Ordinary Shares
Shareholder name: Redziwan Bin Saari
Address: 441A, Jalan Raja Dewa
Hilir, Telipot, 15150
No of shares: 60,000 Ordinary Shares
Shareholder name: Sukri Bin Che Hassan
Address: 891
No of shares: 30,000 Ordinary Shares
Shareholder name: Mohd Bakri Bin Kasim
Address: Lot 1702, Taman Desa
Jaya,
No of shares: 40,000 Ordinary Shares
Structure
Name : AIN AQUACULTURE SDN.
BHD.
Affiliation type :
Subsidiary
Address : Kelantan
Name : AUSTRAL-EURO DIAGNOSIS
SDN. BHD.
Affiliation type :
Subsidiary
Address : No. 34, Jalan Industri USJ
1/3
47600 Subang Jaya
Selangor Darul Ehsan
Bank Details
Name of bank : Bank Islam Malaysia Berhad
Address :
Account details : Current Account
Name of bank : RHB Bank Berhad
Address :
Account details : Current Account
Name of bank : Malayan Banking Berhad (Maybank)
Address :
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: 350,000.00
Date of Creation: 29-01-1983
Name of Chargee: KWONG LEE BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 120,000.00
Date of Creation: 29-01-1983
Name of Chargee: KWONG LEE BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 600,000.00
Date of Creation: 21-09-1983
Name of Chargee: MALAYAN UNITED BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 210,000.00
Date of Creation: 21-09-1983
Name of Chargee: MALAYAN UNITED BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 140,000.00
Date of Creation: 21-09-1983
Name of Chargee: MALAYAN UNITED BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,680,000.00
Date of Creation: 18-08-1990
Name of Chargee: SECURITY PACIFIC ASIAN BANK LIMITED
Charge Status: FULLY SATISFIED
Total of Charge: 900,000.00
Date of Creation: 07-11-1990
Name of Chargee: SECURITY PACIFIC ASIAN BANK LIMITED
Charge Status: FULLY SATISFIED
Total of Charge: 1,000,000.00
Date of Creation: 07-11-1990
Name of Chargee: SECURITY PACIFIC ASIAN BANK LIMITED
Charge Status: FULLY SATISFIED
Total of Charge: 680,000.00
Date of Creation: 07-11-1990
Name of Chargee: SECURITY PACIFIC ASIAN BANK LIMITED
Charge Status: FULLY SATISFIED
Total of Charge: 2,000,000.00
Date of Creation: 21-09-1991
Name of Chargee: DEVELOPMENT COMMERCIAL BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,000,000.00
Date of Creation: 12-11-1991
Name of Chargee: DEVELOPMENT COMMERCIAL BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 5,000,000.00
Date of Creation: 09-12-1993
Name of Chargee: BANK PERUSAHAAN KECIL & SEDERHANA
BERHAD
Charge Status: UNSATISFIED
Total of Charge: 5,000,000.00
Date of Creation: 20-12-1994
Name of Chargee: BANK PEMBANGUNAN
Charge Status: UNSATISFIED
Total of Charge: 16,500,000.00
Date of Creation: 23-05-1995
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 15,000,000.00
Date of Creation: 02-10-1997
Name of Chargee: BANK OF COMMERCE M BERHAD
Charge Status: UNSATISFIED
Total of Charge: 10,294,072.00
Date of Creation: 25-08-2003
Name of Chargee: BANK PERUSAHAAN KECIL & SEDERHANA
BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,205,910.00
Date of Creation: 30-12-2003
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 4,000,000.00
Date of Creation: 07-01-2004
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 1,205,910.00
Date of Creation: 10-06-2004
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 3,947,333.00
Date of Creation: 22-06-2004
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 2,480,404.00
Date of Creation: 01-07-2004
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 6,000,000.00
Date of Creation: 28-06-2004
Name of Chargee: BANK MUAMALAT
Charge Status: UNSATISFIED
Total of Charge: 9,599,009.00
Date of Creation: 25-10-2004
Name of Chargee: BANK PERUSAHAAN KECIL & SEDERHANA
BERHAD
Charge Status: UNSATISFIED
Total of Charge: 1,399,312.00
Date of Creation: 14-03-2005
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,480,404.00
Date of Creation: 10-07-2005
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 9,418,609.92
Date of Creation: 15-12-2006
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 5,949,312.96
Date of Creation: 07-02-2007
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 855,466.56
Date of Creation: 09-07-2007
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 1,082,340.96
Date of Creation: 07-11-2007
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 1,105,208.64
Date of Creation: 16-01-2008
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 1,122,019.68
Date of Creation: 14-01-2009
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 5,000,000.00
Date of Creation: 22-02-2009
Name of Chargee: BANK ISLAM
Charge Status: UNSATISFIED
Total of Charge: 12,461,573.97
Date of Creation: 12-04-2010
Name of Chargee: BANK PERUSAHAAN KECIL & SEDERHANA
BERHAD
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 : 31/12/10
Type of accounts :
Full audited
Currency :
Exchange rate : 1 USD = MYR 3.07 as of
17-04-2012
Summarized Financial Information
Consolidation type
: Consolidated Consolidated
Currency :
Denomination : (x1) One (x1)
One
Date of financial
year end : 31/12/10 31/12/09
Length of accounts
: 12 months 12
months
Gross profit : 34,349,101 30,055,673
Operating profit :
5,102,846 15,044,819
Profit before tax
: 868,662 11,060,760
Net income : -2,567,500 10,812,311
Non current assets
: 91,874,623 84,919,317
Current assets : 95,850,096
96,647,570
Inventories : 21,282,726 12,337,558
Total assets : 187,724,719
181,566,887
Current
liabilities : 48,886,644
49,531,745
Non current
liabilities : 35,295,362 25,958,848
Total liabilities
: 84,182,006 75,490,593
Share equity : 103,542,713 106,076,294
Retained earning :
83,444,377 86,011,877
Comments : The consolidated
financial information above relates to the Subject and its
subsidiaries.
Main activities : The subject engages in the
manufacturing and distribution of
pharmaceutical products, ranging from large volume parenterals, small
volume parenterals, irrigation solutions, haemodialysis concentrates and
peritoneal dialysis solutions.
Located in Kelantan, on the East Coast of Peninsular
operates from a multi-million dollar state-of-the-art pharmaceutical
complex.
The complex, inaugurated by former Prime Minister Tun Dr. Mahathir
Mohamad in 1997, is fully equipped with production floor,
microbiological
and chemical laboratories, warehouse and administrative centre.
Product &
services : Intravenous Solutions
Small Volume Injections
Haemodialysis Concentrates & Powder
Peritoneal Dialysis Solution
Irrigation Solutions
Anti Microbial Infusions
Small Volume Parenterals
Purchases
Local : Yes
International :
Asian countries,
Sales
Local : Yes
International : Asian countries, Europe, Middle East,
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting
of production facilities, warehouse and administrative office.
Branches : None
reported.
Other property :
Total Group NBV of property, plant and equipment as of 31-12-2010 was
MYR 89,214,991.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Central
Bank of
Reserve of foreign
exchange & gold : US$ 135.7
billion as of 31 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
Local :
Prepayment, Bank transfer, Document against payment, Credit up to 120 days
International :
L/C, Telegraphic transfer, Document against payment, Credit up to 120 days
Sales Term
Local :
Prepayment, Bank transfer, Document against payment, Credit up to 120 days
International :
L/C, Telegraphic transfer, 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.51.62 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
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.