MIRA INFORM REPORT
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Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
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Name : |
JAKEL TRADING |
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Registered Office : |
No. 5A Jalan Aji, Segamat, Johor Darul Takzim, Zip/postal code 85000 |
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Country : |
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Date of Incorporation : |
24.01.1983 |
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Com. Reg. No.: |
JM0056657-W |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Import and retail of textiles, carpets & cosmetic |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 320,000 |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Malaysia |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Verified Address
Subject name : JAKEL TRADING
Business address : Wisma Jakel, No. 15, Jalan Aji
Town : Segamat
Province : Johor Darul Takzim
Zip/postal code : 85000
Country : Malaysia
Tel : +60 7 9317978
Fax : +60 7 9328978
Email : info@jakel.my
Website : www.jakel.my
Registered address : No. 5A Jalan Aji
Town : Segamat
Province : Johor Darul Takzim
Zip/postal code : 85000
Country : Malaysia
Executive Summary
Date founded or registered : 24/01/1983
Legal form : Partnership
Chief executive : Mohamed Faroz Bin Mohamed Jakel
Issued & paid up capital : Not required
Sales turnover : MYR 300,000,000 (Estimated group consolidated 12 months, 31/12/2009)
Line of business : Import and retail of textiles, carpets & cosmetic.
Staff employed : 4,500 (Group)
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 good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 320,000
Credit amount asked : Not described.
Registry Data
Date founded : 24/01/1983
Registration date : 04/02/1983
Legal form : Partnership
Registration no : JM0056657-W
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Mohamed
Faroz Bin Mohamed Jakel
Designation : Group Managing Director
Name : Mohamed
Nizam Bin Mohamed Jakel
Designation : Executive Director
Name : Mohamed
Izani Bin Mohamed Jakel
Designation : Executive Director
Name : Luqman
Mohamed Jakel
Designation : Marketing Director
Name : Abd
Designation : Retail Director
Appointments
Name : Mohamed Faroz Bin Mohamed Jakel
Designation : Director
Identification no : 720130-01-5805
Appointment date : 07/01/08
Address : C/o JAKEL TRADING No. 5A, Jalan Aji
85000 Segamat Johor Darul Takzim Malaysia
Biography : Date of Birth: 30-01-1972
Nationality : Malaysian
Gender : Male
Name : Mohamed Nizam Bin Mohamed Jakel
Designation : Director
Identification no : 800901-01-6153
Appointment date : 07/01/08
Address : No. 2, Lorong Enggang 7
Taman Keramat
53300 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Biography : Date of Birth: 01-09-1980
Nationality : Malaysian
Gender : Male
Name : Mohamed Izani Bin Mohamed Jakel
Designation : Director
Identification no : 820820-01-6467
Appointment date : 07/01/08
Address : C/o JAKEL TRADING No. 2 & 4, Wisma Jakel Jalan Titiwangsa 3
Taman Tampoi Indah
81200 Tampoi Johor Darul Takzim Malaysia
Biography : Date of Birth: 20-08-1982
Nationality : Malaysian
Gender : Male
Staff employed : 4,500 (Group)
Composition
Authorized Capital : Not required
Issued capital : Not required
Paid up capital : Not required
How listed :
Full List
Composition
Shareholder
name : Mohamed Faroz Bin Mohamed Jakel
Address : C/o JAKEL TRADING No. 5A, Jalan Aji
85000 Segamat Johor Darul Takzim
Malaysia
% of
shares : Equal % of shares between the 3
partners
Shareholder
name : Mohamed Nizam Bin Mohamed Jakel
Address : No. 2, Lorong Enggang 7
Taman Keramat
53300 Kuala Lumpur Wilayah Persekutuan Malaysia
% of
shares : Equal % of shares between the 3
partners
Shareholder
name : Mohamed Izani Bin Mohamed Jakel
Address : C/o JAKEL TRADING No. 2 & 4, Wisma
Jakel Jalan Titiwangsa 3
Taman Tampoi Indah
81200 Tampoi Johor Darul Takzim Malaysia
%
of shares : Equal % of shares between the 3
partners
Structure
Name : JAKEL TRADING SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : JAKEL & SONS INDUSTRIES SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : JAKEL REALTY SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : JAKEL PROPERTIES SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : JAKEL PLANTATION SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : PERANO SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : EASY REGION ENGINEERING SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : ARIANI TEXTILES & MANUFACTURING (M) SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : PELUANG KRISTAL (M) SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Name : PELUANG KRISTAL MANUFACTURING (M) SDN. BHD.
Affiliation type : Associate
Address : No. 5A Jalan Aji
Segamat 85000
Johor Darul Takzim
Malaysia
Related companies and corporate affiliations comments
Other companies
of the Jakel Group should be considered affiliates of the Subject
Bank Details
Name of
bank :
AmBank (M) Berhad
Address :
Malaysia
Account
details :
Current Account
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 : External Sources
Financial statement date : 31/12/09
Type of accounts : Estimated key figures
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.16 as of 11-11-2011
Summarized Financial Information
Consolidation type : Group Consolidated
Currency : Malaysia, Ringgit (MYR)
Denomination : (x1) One
Date of financial year end : 31/12/09
Length of accounts : 12 months
Sale turnover / Income : 300,000,000
Comments : The Subject is a Partnership Company hence is not require to filed for their financial information, The estimated group turnover consist of all retail operations of the Group.
Main activities : The Subject is engaged in import and retail
sales of fabrics, textiles, carpets etc.
The Subject
operates 5 retail stores in
Other retail
shop is under the name Astana Moda (Melaka), Salem Aziz Textiles (Kota Baharu),
Alamoda Silk House (Sungai Petani), Prima Moda Silk House (Batu Pahat), Alamoda
Silk House (Kuantan), Riamoda Silk House (Simpang Pulai, Perak), Salem Aziz
Textiles (Gong Kapas, Terengganu), Casamoda Gedung Tekstil (Seremban), Salem
Aziz Textiles (Tanah Merah), 0 Riamoda Silk House (Tanjung Malim), Bumiputra
Silk House (Tanjung Karang), Jakel Silk House (Kota Kinabalu), Riamoda,
Greentown (Ipoh).
Product & services : Textile: Fabric (Italian silk, Korean silk, Organza silk, satin silk, chifon
georgette silk, Thai silk, Shangtun silk, Dupian silk, and cotton Viccose), curtains and cloths (Men and Ladies), Carpet, Cosmetic
Purchases
Local : Yes
International : Thailand, China, Italy, South Korea,
Indonesia, India
Sales
Local : Yes
International : No exports.
Key events : Jakel Group opens textile mall, plans another in Bangi October 01,
2010
JAKEL Group, a
major domestic textile retailer is eyeing to launch another major textile
centre in Bangi, Selangor over the next two to three years.
Mohamed Faroz
Mohamed Jakel, Chief Executive Officer of Jakel Group, divulged this while
speaking at the launch of Wisma Jakel, the Company’s biggest mall in
The six floored
textile mall, built on an area of 80,000 square foot is a one-stop textile
outlet. Mohamed Faroz, while answering the query regarding response to the
Group’s Shah Alam outlet, launched four months back, stated that, they have
meet overwhelming response and are doing extremely well.
He further
stated that, though the turnover of the Shah Alam branch is rising, but it is
still not able to catch up with the performance of the company’s main branch in
Jalan Masjid,
However, he did
added that, launch of the Shah Alam outlet, apart from serving the customers in
Shah Alam, would also cater to the needs of those in Klang, Subang Jaya,
Sunway, Taman Tun Dr Ismail and Damansara.
Presently,
there are around 4,000 sales persons working in the Group’s 20 outlets.
History : The Subject was founded by Mohamed
Jakel bin Ahmad on 24 January 1983 in Muar, Johor. In the initial stage,
Subject operated as a textile wholesaler to small retail shops in Muar.
In 1985, the
Subject opened a branch outlet in Segamat, Johor. With an added capital of MYR
500,000, the business expanded into retail trading and supplying textiles for
Government and private agencies. The business grew and survived the 1997
economic crisis remarkably well.
With the
objective of one state one branch, The Subject has now 20 branches all over the
country to offer the best selections of quality fabrics for the needs and
desires of the Malaysian public.
The Subject
opened a 6-storey departmental store worth MYR 30 million at Jalan Bunus Off
Jalan Masjid India which placed the subject as the chief promoter of textile
industry among the Bumiputeras in Malaysia.
Property & assets
Premises : The Subject operates from premises
located at the verified heading address consisting of retail outlet, warehouse
and administrative office.
Branches : In addition, the Subject operates from branch retail outlet located at:
Jakel Kuala Lumpur
No. 209, 210, 211 & 212, Jalan Bunus
50100, Kuala Lumpur Wilayah Persekutuan Malaysia
Jakel Johor Bahru
Address: No. 2 & 4, Wisma Jakel
Jalan Titiwangsa 3, Taman Tampoi Indah
81200, Johor Bahru Johor Darul Takzim Malaysia
Jakel Shah Alam
Address: No. 27, 29, 31, 33 & 35, Jalan Plumbum S 7/S, Seksyen 7
40000, Shah Alam Selangor Darul Ehsan Malaysia
Jakel Textile Warehouse
No 3A, 4, 5, 6, 7, 8 & 9, Kompleks Perniagaan Bistari, Taman Bistari
Lebuhraya Sultan Abdul Halim
05400 Alor Setar Kedah Malaysia
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$134.4 billion as of 14 October 2011
Gross domestic product - GDP : US$ 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 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 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 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 : Prepayment, L/C, Credit up to 90 days
Sales Term
Local : Cash, Credit card
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.63.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.