|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
845068-D
|
|
COMPANY NAME
|
:
|
RAINBOW DYE TECH SDN. BHD.
|
|
FORMER NAME
|
:
|
ARC EN CIEL
CHIMIE SDN BHD (09/06/2011)
CRYSTAL LINES TRADING HOUSE SDN BHD (15/06/2010)
|
|
INCORPORATION DATE
|
:
|
22/01/2009
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
5-6-2, JALAN 3/50, DIAMOND SQUARE, OFF JALAN GOMBAK, 53000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
B10-8, PUNCAK ATHENEAUM, JLN WANGSA 58, BUKIT ANTARABANGSA, 68000
AMPANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-41616095
|
|
FAX.NO.
|
:
|
03-41616095
|
|
CONTACT PERSON
|
:
|
ABDUL RAHIM CHUGHTAI ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46691
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF CHEMICALS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARES 1,000,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
MYR 980,621 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2012]
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
The SC is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the SC must have at
least two directors. A private limited company is a separate legal entity
from its shareholders. As a separate legal entity, the SC is capable of
owning assets, entering into contracts, sue or be sued by other companies.
The liabilities of the shareholders are to the extent of the equity they have
taken up and the creditors cannot claim on shareholders' personal assets even
if the SC is insolvent. The SC is governed by the Companies Act, 1965 and the
company must file its annual returns, together with its financial statements
with the Registrar of Companies.
The SC is
principally engaged in the (as a / as an) trading of chemicals.
The SC is not
listed on Bursa Malaysia (Malaysia Stock Exchange).
The major shareholder(s) of the SC are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
ABDUL NASIR CHEEMA +
|
4, JALAN 3, BUKIT PRIMA PELANGI, SEGAMBUT DALAM, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
AC4158481
|
665,000.00
|
66.50
|
|
MR. ZULKIFFLI BIN MOHAMED HARAS +
|
162, JALAN KEMPAS 2, KAMPUNG MELAYU AMAPANG, 68000 AMPANG, SELANGOR,
MALAYSIA.
|
580903-10-5983
5484928
|
335,000.00
|
33.50
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,000,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
ABDUL RAHIM CHUGHTAI
|
|
Address
|
:
|
56-1, JALAN LAGENDA SURIA 3, TAMAN LAGENDA SURIA, 1ST FLOOR, 43100 HULU
LANGAT, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
AF4121342
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
17/05/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. ZULKIFFLI BIN MOHAMED HARAS
|
|
Address
|
:
|
162, JALAN KEMPAS 2, KAMPUNG MELAYU AMAPANG, 68000 AMPANG, SELANGOR,
MALAYSIA.
|
|
IC / PP No
|
:
|
5484928
|
|
New IC No
|
:
|
580903-10-5983
|
|
Date of Birth
|
:
|
03/09/1958
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
22/01/2009
|
DIRECTOR 3
|
Name Of Subject
|
:
|
ABDUL NASIR CHEEMA
|
|
Address
|
:
|
4, JALAN 3, BUKIT PRIMA PELANGI, SEGAMBUT DALAM, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
AC4158481
|
|
|
|
|
|
Nationality
|
:
|
N/A
|
|
Date of Appointment
|
:
|
22/01/2009
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
ABDUL RAHIM CHUGHTAI
|
|
|
Position
|
:
|
DIRECTOR
|
AUDITOR
|
Auditor
|
:
|
ABDUL RAJI & CO.
|
|
Auditor' Address
|
:
|
B16-9, BLOCK B, MEGAN AVENUE II, 12, JALAN YAP KWAN SENG, 50450
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. HASNURUL AINI BTE HASAN
|
|
|
|
|
|
|
|
New IC No
|
:
|
780825-14-5336
|
|
|
Address
|
:
|
B-6-09, BLOCK B, PARK AVENUE CONDOMINIUM, JALAN PJU 10/1, DAMANSARA
DAMAI, SUNGAI BULOH, 47830 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SC
* We have checked through the SC in our defaulters' database which comprised of
debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
MIDDLE EAST
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Total Number of Employees:
|
|
YEAR
|
2012
|
2010
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
5
|
2
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of chemicals.
We were informed that the SC is in midst of constructing its manufacturing factory
based in Gebeng, Kuantan.
The SC plans to produce textile printing chemicals.
According to the SC, its factory expected to be completed in 2013.
Currently the SC focuses on its administration and environmental safety and
health activities.
At present, the SC is only engaged in the trading of chemicals.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
03-41616095
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
604 A. WISMA CENTRAL JALAN AMPANG
|
|
Current Address
|
:
|
B10-8, PUNCAK ATHENEAUM, JLN WANGSA 58, BUKIT ANTARABANGSA, 68000 AMPANG,
SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted Mr Abdul Rahim (010-2667728) the SC's Director. He revealed some
information pertaining to the SC.
The SC is not aware of the address provided.
The SC refused to comment anything on its nill turnover for the year 2009.
FINANCIAL ANALYSIS
|
The SC's turnover was nil during the year indicate that it was
inactive. As a result, we are unable to comment on its financial
performance.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : N/A
|
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
Major Economic Indicators:
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
27.73
|
28.13
|
28.35
|
28.70
|
29.10
|
|
Gross Domestic Products ( % )
|
4.6
|
<0.5>
|
7.2
|
5.5
|
5.3
|
|
Domestic Demand ( % )
|
6.9
|
2.9
|
6.3
|
4.8
|
7.6
|
|
Private Expenditure ( % )
|
7.1
|
<2.7>
|
8.1
|
7.0
|
8.7
|
|
Consumption ( % )
|
8.4
|
0.7
|
6.7
|
6.3
|
7.1
|
|
Investment ( % )
|
1.5
|
<17.2>
|
17.7
|
16.2
|
15.9
|
|
Public Expenditure ( % )
|
6.5
|
5.2
|
3.8
|
7.6
|
4.7
|
|
Consumption ( % )
|
11.6
|
3.1
|
0.2
|
8.9
|
3.0
|
|
Investment ( % )
|
0.7
|
8.0
|
2.8
|
0.6
|
7.0
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
129,563
|
89,650
|
118,356
|
116,058
|
-
|
|
Government Finance ( MYR Million )
|
<34,462>
|
<28,450>
|
<40,482>
|
<45,511>
|
<43,021>
|
|
Government Finance to GDP / Fiscal Deficit ( % )
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
|
<4.7>
|
|
Inflation ( % Change in Composite CPI)
|
<3.3>
|
<5.2>
|
5.1
|
3.1
|
-
|
|
Unemployment Rate
|
3.7
|
4.5
|
3.9
|
3.3
|
-
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion )
|
388
|
331
|
329
|
415
|
-
|
|
Average Risk-Weighted Capital Adequacy Ratio ( % )
|
1.91
|
2.87
|
2.20
|
3.50
|
-
|
|
Average 3 Months of Non-performing Loans ( % )
|
13.24
|
11.08
|
15.30
|
14.80
|
-
|
|
Average Base Lending Rate ( % )
|
6.72
|
5.53
|
6.30
|
6.60
|
-
|
|
Business Loans Disbursed( % )
|
11.6
|
10.5
|
14.7
|
15.3
|
-
|
|
Foreign Investment ( MYR Million )
|
23,261.4
|
22,156.8
|
22,517.9
|
23,546.1
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
41,599
|
41,578
|
44,148
|
-
|
-
|
|
Registration of New Companies ( % )
|
<4.0>
|
<0.1>
|
6.2
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
27,992
|
39,075
|
25,585
|
-
|
-
|
|
Liquidation of Companies ( % )
|
23.7
|
39.6
|
<34.5>
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
269,866
|
312,581
|
271,414
|
-
|
-
|
|
Registration of New Business ( % )
|
-
|
-
|
-
|
-
|
-
|
|
Business Dissolved ( No. )
|
18,885
|
19,345
|
19,738
|
-
|
-
|
|
Business Dissolved ( % )
|
<7.6>
|
2.4
|
2.0
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
497.5
|
486.3
|
543.6
|
363.0
|
-
|
|
Cellular Phone Subscribers ( Million )
|
25.1
|
30.1
|
32.8
|
35.3
|
-
|
|
Tourist Arrival ( Million Persons )
|
21.5
|
23.6
|
24.6
|
25.3
|
-
|
|
Hotel Occupancy Rate ( % )
|
68.0
|
58.0
|
63.0
|
51.3
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
17.1
|
12.8
|
14.1
|
15.6
|
-
|
|
Bad Cheque Offenders (No.)
|
34,834
|
36,667
|
33,568
|
27,208
|
-
|
|
Individual Bankruptcy ( No.)
|
13,907
|
16,228
|
18,119
|
16,155
|
-
|
|
Individual Bankruptcy ( % )
|
5.1
|
16.7
|
11.7
|
<10.8>
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Agriculture
|
3.6
|
0.4
|
2.1
|
4.7
|
4.1
|
|
Palm Oil
|
7.0
|
<1.1>
|
<3.4>
|
7.3
|
-
|
|
Rubber
|
<1.1>
|
<19.8>
|
9.9
|
6.4
|
-
|
|
Forestry & Logging
|
<1.5>
|
<5.9>
|
<3.3>
|
<4.7>
|
-
|
|
Fishing
|
4.0
|
5.5
|
5.6
|
2.8
|
-
|
|
Other Agriculture
|
5.9
|
9.0
|
7.9
|
8.5
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
393.0
|
413.7
|
508.4
|
634.1
|
-
|
|
% of Industry Non-Performing Loans
|
<2.0>
|
1.3
|
2.1
|
3.2
|
-
|
|
|
|
|
|
|
|
|
Mining
|
<0.8>
|
<3.8>
|
0.2
|
<2.4>
|
2.5
|
|
Oil & Gas
|
12.7
|
2.1
|
0.5
|
<1.7>
|
-
|
|
Other Mining
|
-
|
-
|
-
|
-
|
-
|
|
Industry Non-performing Loans ( MYR Million )
|
36.0
|
44.2
|
49.7
|
46.5
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
1.3
|
<9.4>
|
11.4
|
5.6
|
4.5
|
|
Exported-oriented Industries
|
2.7
|
<19.0>
|
12.1
|
2.8
|
-
|
|
Electrical & Electronics
|
2.4
|
<30.3>
|
28.4
|
<4.9>
|
-
|
|
Rubber Products
|
4.2
|
<10.1>
|
25.3
|
15.4
|
-
|
|
Wood Products
|
<6.0>
|
<24.1>
|
20.1
|
<7.3>
|
-
|
|
Textiles & Apparel
|
1.9
|
<19.5>
|
<0.4>
|
14.8
|
-
|
|
Domestic-oriented Industries
|
9.9
|
<9.8>
|
16.3
|
6.3
|
-
|
|
Food, Beverages & Tobacco
|
9.5
|
0.2
|
3.0
|
4.2
|
-
|
|
Chemical & Chemical Products
|
1.4
|
<7.7>
|
16.2
|
5.6
|
-
|
|
Plastic Products
|
6.5
|
<9.1>
|
2.4
|
3.8
|
-
|
|
Iron & Steel
|
16.8
|
<32.7>
|
29.3
|
2.4
|
-
|
|
Fabricated Metal Products
|
14.7
|
<2.5>
|
14.9
|
25.2
|
-
|
|
Non-metallic Mineral
|
8.3
|
<15.5>
|
20.2
|
16.3
|
-
|
|
Transport Equipment
|
27.1
|
<13.5>
|
36.5
|
<9.4>
|
-
|
|
Paper & Paper Products
|
8.6
|
<5.0>
|
18.7
|
15.6
|
-
|
|
Crude Oil Refineries
|
7.8
|
0.2
|
<11.4>
|
9.3
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
5,729.4
|
6,007.3
|
6,217.5
|
6,537.2
|
-
|
|
% of Industry Non-Performing Loans
|
16.8
|
18.3
|
23.8
|
25.7
|
-
|
|
|
|
|
|
|
|
|
Construction
|
2.1
|
5.8
|
5.1
|
4.4
|
7.0
|
|
Industry Non-Performing Loans ( MYR Million )
|
4,149.8
|
3,241.8
|
4,038.5
|
3,856.9
|
-
|
|
% of Industry Non-Performing Loans
|
12.2
|
9.9
|
10.7
|
10.2
|
-
|
|
|
|
|
|
|
|
|
Services
|
7.3
|
2.6
|
6.5
|
6.4
|
6.5
|
|
Electric, Gas & Water
|
5.0
|
0.4
|
8.5
|
5.6
|
4.8
|
|
Transport, Storage & Communication
|
7.8
|
1.6
|
7.7
|
6.5
|
7.3
|
|
Wholesale, Retail, Hotel & Restaurant
|
10.0
|
2.8
|
4.7
|
5.2
|
6.9
|
|
Finance, Insurance & Real Estate
|
9.2
|
3.8
|
6.1
|
6.3
|
6.5
|
|
Government Services
|
8.6
|
2.0
|
6.7
|
7.6
|
5.6
|
|
Other Services
|
5.9
|
4.4
|
4.2
|
5.4
|
5.7
|
|
Industry Non-Performing Loans ( MYR Million )
|
8,281.4
|
6,631.3
|
7,384.6
|
6,825.2
|
-
|
|
% of Industry Non-Performing Loans
|
24.3
|
20.2
|
25.7
|
23.4
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary
|
|
|
|
|
|
|
** Forecast
|
|
|
|
|
|
|
# Based On
Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
MSIC CODE
|
|
46691 : Wholesale of industrial chemicals
|
|
|
|
|
INDUSTRY :
|
MANUFACTURING
|
|
The manufacturing sector is expected to be driven by higher value-added
activities in Malaysia.The GDP growth for first quarter 2012 indicating
manufacturing maintain its growth of 4.5%, similar to year 2011.Malaysia
recorded a 12% jump in approved investments in the manufacturing sector in
the first quarter of 2012 compared with the corresponding period 2011.
According to Federation of Malaysian Manufacturers (FMM), manufacturing
sector expected to improve in the third quarter 2012 despite concerns over external
developments and the rising cost of production.
|
|
The rubber products sub-sector is expected to remain resilient supported by
continuous improvements in medical and healthcare standards in emerging markets
as well as demand from niche markets such as the oil and gas sector for
rubber hoses. Malaysia rubber exports are forecast to grow at 10%, at the
end of 2012 driven by global demand for medical gloves as well as rubber
tyres and tubes.Rubber glove exports make up 70 % of total rubber shipments
in Malaysia due to hospitals and clinics place more intrest on rising
health and hygiene awareness.
|
|
The Malaysia government has growth target of 6.5% for wood based furniture
where estimated to reach up to RM53 billion by year 2020.The government
providing pioneer status for tax exemption and investment tax allowance for
this industry as a boost up step towards produce good quality product and
to meet the world demand.
|
|
Chemical production are expected to show 6.2% in year 2012 and 7.5 % in
year 2013 inline with Malaysia as one of the largest contributor in world
Chemicals & Chemical industries.
|
|
According to Malaysian Iron and Steel Industry Federation, first half of
2012 would remain weak for the local steel industry due to eurozone crisis,
slowdown in China's economy and less robust construction activities in the
developed countries. At first quarter 2012, the average local steel price
is trading atRM2,300 per tonne compared with the average international
price of US$740 (RM2,331) per tonne.
|
|
According to the Department of Statistics, Malaysia during the first
quarter 2012, the manufacturing output increased due to activities in major
sub-sectors such as petroleum, chemical, rubber and plastic products (10.5
%), and non-metallic mineral products, basic metal and fabricated metal
products (3.9 %). Meanwhile, it's also announced that the manufacturing
sector's sales grew by 10 % in May 2012 to record RM52.5 billion compared
with RM47.7 billion in May 2011. The Industrial Production Index (IPI )
increased 7.6 % in May (2012) due to increases in manufacturing (6.5 %).
|
|
Tax and non-tax incentives provided by goverment encourage manufacturers to
move up the value chain of manufacturing industry. The new growth
initiatives by goverment in the manufacturing sector such as solar and
medial services can be important drivers of growth apart from helping to
diversify the manufacturing base and contributing to the resilience of the
sector.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
Established in 2009, the SC is a Private Limited company, focusing on trading
of chemicals. The SC has been in business for 3 years and it has slowly
been building up contact with its clients while competing in the industry.
However, it has yet to enjoy a stable market shares as it need to compete
many well established players in the same field. With a weak shareholders'
backing, the SC's capital position is weak. Inadequate capital may be a
constraint to the SC as it limits its ability to expand its business in
future. The capital standing of the SC is fair.
|
|
Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the SC to further
enhance its business in the near term. Being a small company, the SC's
business operation is supported by 5 employees. Overall, we regard that the
SC's management capability is average.
|
|
The SC pre tax loss is MYR 1,939. The SC has generated an unfavourable
return on shareholders' funds indicating that the management was
inefficient in utilising its funds to generate return. However, the SC is
in good liquidity position with its current liabilities well covered by it
current assets. Hence, it has sufficient working capital to meet its short
term financial obligations. A low liabilities ratio has minimised the SC's
financial risk. Given a positive net worth standing at MYR 980,621, the SC
should be able to maintain its business in the near terms.
|
|
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the SC
has a good control over its resources.
|
|
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the SC is expected to benefit from the favourable
outlook of the industry.
|
|
Based on the above condition, we recommend credit be granted to the SC
normally.
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
RAINBOW DYE
TECH SDN. BHD.
|
|
Financial Year End
|
31/03/2011
|
|
Months
|
12
|
|
Consolidated Account
|
Company
|
|
Audited Account
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
|
Financial Type
|
SUMMARY
|
|
Currency
|
MYR
|
|
|
|
|
TURNOVER
|
0
|
|
|
----------------
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
<1,939>
|
|
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
<1,939>
|
|
Taxation
|
0
|
|
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
<1,939>
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
As previously reported
|
<17,440>
|
|
|
----------------
|
|
As restated
|
<17,440>
|
|
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
<19,379>
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
<19,379>
|
|
|
=============
|
|
|
|
BALANCE SHEET
|
RAINBOW DYE
TECH SDN. BHD.
|
|
ASSETS EMPLOYED:
|
|
|
FIXED ASSETS
|
126,840
|
|
|
|
|
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
126,840
|
|
|
|
|
CURRENT ASSETS
|
|
|
TOTAL CURRENT ASSETS
|
988,510
|
|
|
----------------
|
|
TOTAL ASSET
|
1,115,350
|
|
|
=============
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
TOTAL CURRENT LIABILITIES
|
134,729
|
|
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
853,781
|
|
|
----------------
|
|
TOTAL NET ASSETS
|
980,621
|
|
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share capital
|
1,000,000
|
|
|
----------------
|
|
TOTAL SHARE CAPITAL
|
1,000,000
|
|
|
|
|
RESERVES
|
|
|
Retained profit/(loss) carried forward
|
<19,379>
|
|
|
----------------
|
|
TOTAL RESERVES
|
<19,379>
|
|
|
|
|
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
980,621
|
|
|
|
|
|
----------------
|
|
|
980,621
|
|
|
=============
|
|
|
|
FINANCIAL RATIO
|
RAINBOW DYE
TECH SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
Net Liquid Assets
|
853,781
|
|
Net Current Assets/(Liabilities)
|
853,781
|
|
Net Tangible Assets
|
980,621
|
|
Net Monetary Assets
|
853,781
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
Total Liabilities
|
134,729
|
|
Total Assets
|
1,115,350
|
|
Net Assets
|
980,621
|
|
Net Assets Backing
|
980,621
|
|
Shareholders' Funds
|
980,621
|
|
Total Share Capital
|
1,000,000
|
|
Total Reserves
|
<19,379>
|
|
|
|
|
LIQUIDITY (Times)
|
|
|
Current Ratio
|
7.34
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
Liabilities Ratio
|
0.14
|
|
Assets Backing Ratio
|
0.98
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
Return On Net Assets
|
<0.20>
|
|
Return On Capital Employed
|
<0.20>
|
|
Return On Shareholders' Funds/Equity
|
<0.20>
|
|
|
|
|