MIRA INFORM REPORT

 

 

Report Date :           

04.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

CHIN HIN GUAN SENDIRIAN BERHAD

 

 

Registered Office :

C/o T.C. Chong & Co, A-14, Jalan Kesidang 3/2, Bachang , Melaka , Zip/postal code 75200

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

14.06.1988

 

 

Com. Reg. No.:

171169-T

 

 

Legal Form :

Private Company Limited By Shares

 

 

Line of Business :

Import and distribution of chillies, onions, potatoes etc.

 

 

No. of Employees :

25

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 180,000

 

 

Status :

Moderate

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Malaysia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 Bottom of Form

Identification details  Bottom of Form

 

 

Verified Address

 

Subject name                :           CHIN HIN GUAN SENDIRIAN BERHAD

 

Business address          :           83 & 85, Kampung Pantai

Town                             :           Melaka

Zip/postal code              :           75200

Country                         :           Malaysia

Tel                                :           +60 6 2824069

Fax                               :           +60 6 2845687

 

Registered address        :           C/o T.C. CHONG & CO

A-14, Jalan Kesidang 3/2

Town                             :           Bachang

Province                        :           Melaka

Zip/postal code              :           75200

Country                                                           :                       Malaysia

 

 

Summary details

 

Executive Summary

 

Date founded or registered          :   14/06/1988

Legal form                                 :   Private Company Limited By Shares

Chief executive                          :   Wee Kim Chuan

Issued & paid up capital             :   MYR 988,000

Sales turnover                            :   MYR 12,488,111 (Non-consolidated 12 months, 31/03/2011)

Net income                                :   MYR 41,989 (Non-consolidated 12 months, 31/03/2011)

Total fixed assets                       :   MYR 3,763,662 (Non-consolidated 12 months, 31/03/2011)

Line of business             :   Import and distribution of chillies, onions, potatoes etc.

Staff employed                                                                        :   25 employees

 

 

Credit risk opinion

 

Company Analysis

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is steady

Management experience :   Management is adequately experienced

Financial performance                :   Financial performance is fair

Organization structure                :   Organizational structure is stable

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

Credit amount suggestion     :   USD 180,000

 

Credit amount asked                  :   Not described.

 

 

Statutory details

 

Registry Data

Registration date            :   14/06/1988

Legal form                     :   Private Company Limited By Shares

Registration no              :  171169-T

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                :           Wee Kim Chuan

Designation       :           Managing Director

 

Name                :           Lee Leng Siong

Designation       :           Director

 

Name                :           Wee Kay Tat

Designation    :                       Director

 

 

Board of directors / other appointments

 

Appointments

 

Name                            :           Wee Kim Chuan

Designation                   :           Director

Identification no              :           400209-71-5211

Appointment date           :           14/06/88

Address                        :           463, Lorong 1

Ujong Pasir

75050 Melaka

Malaysia

 

Name                            :           Lee Leng Siong

Designation                   :           Director

Identification no              :           480225-71-5011

Appointment date           :           14/06/88

Address                        :           245-L Lorong Tiga

Bandar Hilir

75000 Melaka

Malaysia

 

Name                            :           Tan Chin Leong

Designation                   :           Director

Identification no              :           650311-04-5105

Appointment date           :           01/04/08

Address                        :           No. 141-E Jalan Kesidang 1/4

Taman Kesidang Seksyen 1

Kampung Lapan

75250 Melaka

Malaysia

 

Name                            :           Wee Kay Tat

Designation                   :           Director

Identification no              :           570913-04-5583

Appointment date           :           25/11/91

Address                                  :                       215-0, Jalan Thamby Abdullah

off Jalan Paramesware

75000 Melaka

Malaysia

 

Name                            :           Lim Pey Lin

Designation                   :           Company Secretary

Identification no              :           651002-04-5018

Appointment date           :           29/09/89

Address                        :           7171-C, Jalan Klebang Besar

75200 Melaka

Malaysia

 

Staff employed               :           25 employees

 

Key Advisors

Auditors            :           P.S. TAN & CO.

69, Jalan Kota Laksamana 1/2

Taman Sri Laksamana

75200 Melaka

Malaysia

 

 

Share capital

 

Composition

Authorized Capital                                 :   MYR 1,000,000

No of shares                                         :   1,000,000 Ordinary Shares

Share par value                                     :   MYR 1

Issued capital                                       :   MYR 988,000

Paid up capital                                                                                              :   MYR 988,000

 

 

ownership / shareholders

 

How listed                                 :   Full List

 

 

Composition

Shareholder name          :   Tan Chin Leong

Address                        :   No. 141-E Jalan Kesidang 1/4

Taman Kesidang Seksyen 1

Kampung Lapan

75250 Melaka

Malaysia

 

No. of shares                 :   104,000 Ordinary Shares

Shareholder name          :   Wee Kim Chuan

Address                        :   463, Lorong 1

Ujong Pasir

75050 Melaka

Malaysia

 

No. of shares                 :   104,000 Ordinary Shares

 

Shareholder name          :   Lee Leng Siong

Address                        :   245-L Lorong Tiga

Bandar Hilir

75000 Melaka

Malaysia

No. of shares                 :   104,000 Ordinary Shares

 

Shareholder name          :   Lee Thian Yit @ Wee Thian Yit

Address                        :   544-C, Sea View Garden

Ujong Pasir

75050 Melaka

Malaysia

 

No. of shares                 :   104,000 Ordinary Shares

 

Shareholder name          :   Wee Kay Tat

Address                        :   215-0, Jalan Thamby Abdullah off Jalan Paramesware

75000 Melaka

Malaysia

No. of shares                 :   104,000 Ordinary Shares

 

 

Shareholder name          :   Lee Leng Lin

Address                        :   170-1 Taman Kota Laksamana

75200 Melaka

Malaysia

No. of shares                 :   52,000 Ordinary Shares

Shareholder name          :   Wee Kay Sing

Address                        :   463, Lorong 1

Ujong Pasir

75050 Melaka

Malaysia

No. of shares                 :   52,000 Ordinary Shares

 

 

Shareholder name          :   Wee Kay Eng

Address                        :   544-C, Sea View Garden

Ujong Pasir

75050 Melaka

Malaysia

No. of shares                 :   52,000 Ordinary Shares

 

 

Shareholder name          :   Lee Leng Bin

Address                        :   No. 6, Kg. Ampat

Jalan Kubu

75300 Melaka

Malaysia

No. of shares                 :   52,000 Ordinary Shares

 

Shareholder name          :   Lee Kian Soo

Address                        :   245-L Lorong Tiga

Bandar Hilir

75000 Melaka

Malaysia

 

No. of shares     :   52,000 Ordinary Shares

 

Ownership / Shareholding comment   :   Other shareholders:

 

Shareholder name          : Wee Kay Chin

Address                        : 463, Lorong 1

Ujong Pasir

75050 Melaka

Malaysia

No of shares                  : 52,000 Ordinary Shares

 

Shareholder name          : Wee Kay Charn

Address                        : 463, Lorong 1

Ujong Pasir

75050 Melaka

Malaysia

No of shares                  : 52,000 Ordinary Shares

 

Shareholder name          : Tan Ah Chit

Address                        : No. 141-E Jalan Kesidang 1/4

Taman Kesidang Seksyen 1

Kampung Lapan

75250 Melaka

Malaysia

No of shares      : 52,000 Ordinary Shares

 

Shareholder name          : Wee Kim Poi

Address                        : 544-C, Sea View Garden Ujong Pasir

75050 Melaka

Malaysia

No of shares                           : 52,000 Ordinary Shares

 

 

Related companies & corporate Affiliations

 

Structure

Related companies and corporate affiliations comments : None Reported

 

 

Bank & mortgages

 

Bank Details

Name of bank    :   HSBC Bank Malaysia Bhd.

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         

 

Total of Charge: 128,000.00

Date of Creation: 28-03-1989

Name of Chargee: UNITED MALAYAN BANKING CORP BHD

Charge Status: UNSATISFIED

 

Total of Charge: 300,000.00

Date of Creation: 16-09-1989

Name of Chargee: CIMB BANK BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 150,000.00

Date of Creation: 02-12-1991

Name of Chargee: UNITED MALAYAN BANKING CORPORATION BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 750,000.00

Date of Creation: 05-04-1993

Name of Chargee: HONGKONG BANK MALAYSIA BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 230,000.00

Date of Creation: 28-06-1995

Name of Chargee: HONGKONG BANK MALAYSIA BERHAD

Charge Status: FULLY SATISFIED

 

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        :   31/03/11

Type of accounts                       :   Full audited

Currency                                   :   Malaysia, Ringgit (MYR)

Exchange rate                           :   1 USD = MYR 3.02 as of 02-02-2012

 

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                    :

31/03/11

31/03/10

Length of accounts                             :

12 months

12 months

Sale turnover / Income                         :

12,488,111

12,812,352

Profit before tax                                  :

154,433

268,881

Net income                                        :

41,989

213,044

Non current assets                             :

882,525

834,587

Current assets                                    :

2,881,137

2,962,758

Total assets                                       :

3,763,662

3,797,345

Current liabilities                                 :

733,813

811,879

Non current liabilities                           :

14,293

11,899

Total liabilities                                    :

748,106

823,778

Share equity                                       :

3,015,556

2,973,567

Retained earning                                 :

2,027,556

1,985,567

 

 

Operation details

Main activities    :   The Subject is engaged in import and distribution of chillies, onions, potatoes etc.

 

Purchases

International       :   Mainly from China, India

 

Sales

Local                :   Yes

International       :   No exports.

 

Property & Assets

Premises          :   The Subject operates from the verified heading address consisting of warehouse and

administrative office.

Branches        :   None reported.

 

 

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)               :   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%,

HongKong 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                                          :   Telegraphic transfer, Credit 30-60 days

 

Sales Term

Local                                                    :   Prepayment, 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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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 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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.