MIRA
INFORM REPORT
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Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SHOAA GLOBAL SDN. BHD. |
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Registered Office : |
568-2-73 Mutiara Kompleks Jalan Ipoh Kuala Lumpur Wilayah Persekutuan 51200 |
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Country : |
Malaysia |
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Date of Incorporation : |
12.04.2010 |
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Com. Reg. No.: |
898001-A |
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Legal Form : |
Private Limited Company Limited By Shares |
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Line of Business : |
Sales of tractors and tractor spare parts. |
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No. of Employees : |
Directors are the only employees of the Subject |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Small Company |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
IDENTIFICATION DETAILS
Verified Address
Subject name : SHOAA GLOBAL SDN. BHD.
Business address : 568-2-73 Mutiara Kompleks Jalan Ipoh
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 51200
Country : Malaysia
Tel : +60 12 3848416
Email : rohail93@hotmail.com
Registered address : C/o S & E MOORE MANAGEMENT SERVICES
16B Jalan Tun Mohd Fuad
Taman Tun Dr Ismail
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 60000
Country : Malaysia
Comments : As the Subject was a recently established company, a landline number is not available therefore all correspondence are conducted through the mobile number provided above which belongs to Mr. Waseem Ahmad.
SUMMARY DETAILS
Executive Summary
Date founded or registered : 12/04/2010
Legal form : Private Limited Company Limited By Shares
Chief executive : Waseem Ahmad
Issued & paid up capital : MYR 1,100,000
Sales turnover : MYR 0 (Non-consolidated 15 months, 30/06/2011)
Net income : MYR -224,304 (Non-consolidated 15 months, 30/06/2011)
Total fixed assets : MYR 777,296 (Non-consolidated 15 months, 30/06/2011)
Line of business : Sales of tractors and tractor spare parts.
Staff employed : Directors are the only employees of the Subject
CREDIT RISK OPINION
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up phase
Management experience : Management is inadequately experienced
Financial performance : Financial performance is deteriorating
Organization structure : Organizational structure is acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : Fully secured terms.
Credit amount asked : Not described.
Comments : It is strictly advisable to conduct business dealing on prepayment or L/C basis due to the Subject's recent date of establishment.
STATUTORY DETAILS
Registry Data
Registration date : 12/04/2010
Legal form : Private Limited Company Limited By Shares
Registration no 898001-A
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Waseem Ahmad
Designation : Managing Director
Name : Asif Hussain Siddiqui
Designation : Director
Name : Hafeez Ur Rehman
Designation : Director
Name : Nadeem Iqbal Mohammad Mehboob
Designation : Director
Name : Aftab Ali
Designation : Director
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Sufi Khairuni Binti Abdul Muis
Designation : Director
Identification no : 740206-14-5218
Appointment date : 19/07/11
Address : B20306 Pandan Mewah Heights
Pandan Mewah
68000 Ampang Selangor Darul Ehsan Malaysia
Name : Asif Hussain Siddiqui
Designation : Director
Identification no : CQ5468191
Appointment date : 13/05/11
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan
Malaysia
Name : Hafeez Ur Rehman
Designation : Director
Identification no : FN9158971
Appointment date : 13/05/11
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur
Wilayah Persekutuan Malaysia
Name : Nadeem Iqbal Mohammad Mehboob
Designation : Director
Identification no : JJ1333171
Appointment date : 10/11/10
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur
Wilayah Persekutuan Malaysia
Name : Aftab Ali
Designation : Director
Identification no : FW1795431
Appointment date : 12/04/10
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan
Malaysia
Name : Waseem Ahmad
Designation : Director
Identification no : UT1154951
Appointment date : 13/05/11
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan
Malaysia
Name : Low Lay Ching
Designation : Company Secretary
Identification no : 591113-10-6686
Appointment date : 28/04/11
Address : No.7 Jalan SP 1/4
Taman Subang Perdana
Seksyen 1
40150 Shah Alam Selangor Darul Ehsan
Malaysia
Staff employed : Directors are the only employees of
the Subject
Key Advisors
Auditors : SELVA & ASSOCIATES
5th Floor, Wisma Mabano
6, Jalan Hang Jebat
50150 Kuala Lumpur Wilayah Persekutuan
Malaysia
SHARE CAPITAL
Composition
Authorized Capital : MYR 5,000,000
No of shares : 5,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 1,100,000
Paid up capital : MYR 1,100,000
Changed in capital : The Subject increased its share capital from MYR 1,000,000 to MYR 5,000,000
on 29-07-2011.
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : Waseem Ahmad
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 100,000 Ordinary Shares
Shareholder name : Aftab Ali
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 163,340 Ordinary Shares
Shareholder name : Sufi Khairuni Binti Abdul Muis
Address : B20306 Pandan Mewah Heights
Pandan Mewah
68000 Ampang Selangor Darul Ehsan Malaysia
No. of shares : 600,000 Ordinary Shares
Shareholder name : Nadeem Iqbal Mohammad Mehboob
Address : C-19-4 Villa Angsana
56 Jalan Krian
Taman Rainbow, Off Jalan Ipoh
51100 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 236,660 Ordinary Shares
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Related companies and corporate affiliations comments : None reported.
BANK & MORTGAGES
Bank Details
Name of bank : Malayan Banking 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.
FINANCIAL DATA
Description
Source of financial statement :
Commercial Registry Filings
Financial statement date : 30/06/11
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate :
1 USD = MYR 3.06 as of 30-01-2012
Summarized Financial Information
Consolidation type : Non Consolidated
Currency : Malaysia, Ringgit (MYR)
Denomination : (x1) One
Date of financial year end : 30/06/11
Length of accounts : 15 months
Sale turnover / Income : 0
Gross profit : -68,720
Operating profit : -223,936
Profit before tax : -224,304
Net income : -224,304
Non current assets : 3,730
Current assets : 773,566
Total assets : 777,296
Current liabilities : 1,600
Total liabilities : 1,600
Share equity : 775,696
Retained earning : -224,304
Comments : For financial year end 30-06-2011, the
Subject has yet to record any sales.
OPERATION DETAILS
Main activities : The Subject is engaged in sales of tractors and tractor spare parts.
Purchases
International : United Arab Emirates, Pakistan, India
Sales
Local : Yes
International : No exports.
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 30-06-2011 was MYR
3,730.
SUMMARIZED COUNTRY RISK
Gross Domestic Products (GDP) & Economic Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$ 133.7 billion as of 13 January 2012
Gross domestic product - GDP : US$ 247.781 billion
GPP (Purchasing power parity) : US$ 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 rate : 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 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 : 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%
PAYMENT HISTORY
Purchase Term
International : Prepayment, Telegraphic transfer,
Credit 30-60 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-60
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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1 |
Rs.78.17 |
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Euro |
1 |
Rs.65.52 |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.