MIRA
INFORM REPORT
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Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ENG SHENG SDN. BHD. |
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Registered Office : |
Level 18, The Gardens North Tower, Mid Valley City, Kuala LumpurWilayah Persekutuan |
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Country : |
Malaysia |
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Date of Incorporation : |
28.08.1982 |
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Com. Reg. No.: |
89290-D |
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Legal Form : |
Private Company Limited By
Shares |
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Line of Business : |
Importer and exporter of
agricultural products. |
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No. of Employees : |
100 |
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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Maximum Credit Limit : |
USD 220,000 |
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Status : |
Moderate |
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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
|
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 : ENG SHENG SDN. BHD.
Business address : No. 11, Persiaran Sabak Bernam
Section 26 (HICOM) Town : Shah
Alam
Province : Selangor
Darul Ehsan
Zip/postal code : 40400
Country : Malaysia
Tel : +60 3 51916699
Fax : +60 3 51912919
Email : engsheng@engsheng.com
Website : www.engsheng.com
Registered address : Level 18, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
Town : Kuala Lumpur
Province : Wilayah
Persekutuan
Zip/postal code : 59200
Country : Malaysia
YETAILS
Executive Summary
Date founded or registered :
28/08/1982
Legal form :
Private Company Limited By Shares
Chief executive : Khor Keng Huat
Issued & paid up capital :
MYR 6,000,000
Line of business :
Importer and exporter of agricultural
products.
Staff employed : 100 employees
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 undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 220,000
Credit amount asked : Not described
STATUTORY DETAILS
Registry Data
Registration date : 28/08/1982
Legal form : Private Company Limited By Shares
Registration no 89290-D
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
AGEMENT / DIRECTORS
Key Management
Name : Khor Keng Huat
Designation : Managing Director
Name : Khor Kean Hock
Designation : Director
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Khor Keng Huat
Designation : Director
Identification
no : 620116-08-5325
Appointment
date : 23/10/89
Address : 1, Jalan BU 3/2A
Bandar Utama Damansara
47800 Petaling Jaya Selangor Darul
Ehsan
Malaysia
Name : Khor Kean Hock
Designation : Director
Identification
no : 700512-10-6309
Appointment
date : 15/07/99
Address : 2A, Jalan PJU 3/17B
Tropicana Indah Resort Homes
47810 Petaling Jaya Selangor Darul
Ehsan
Malaysia
Name : Khor Kian Hin
Designation : Director
Identification
no : 730628-14-5059
Appointment
date : 15/09/93
Address : 31, Jalan PJU 3/12C
Tropicana Indah Resort Homes
47810 Petaling Jaya Selangor Darul Ehsan
Malaysia
Name : Lew Nyok Khim
Designation : Company Secretary
Identification no : 581121-08-5708
Appointment date : 12/10/10
Address : 2, Lorong SS 3/59B
47301 Petaling Jaya Selangor Darul Ehsan
Malaysia
Name : Heng Chiang Pooh
Designation : Company Secretary
Identification no : 590426-06-5083
Appointment date : 01/09/07
Address : 506, Block D2
Section 2 Wangsa Maju
53300 Kuala Lumpur Wilayah Persekutuan
Malaysia
Name : Wong Wai Foong
Designation : Company Secretary
Identification no : 660510-10-6838
Appointment date : 28/04/11
Address : 1164, Jalan 17/64
Happy Garden
46400 Petaling Jaya Selangor Darul
Ehsan
Malaysia
Name : Wong Peir Chyun
Designation : Company Secretary
Identification no : 710824-10-5806
Appointment date : 28/04/11
Address : 15, Solok Nona Off Jalan Meru
41050 Klang
Selangor Darul Ehsan
Malaysia
Staff employed : 100 employees
SHARE CAPITAL
Composition
Authorized
Capital : MYR 10,000,000
No of shares : 10,000,000 Ordinary Shares
Share par value :
MYR 1
Issued capital : MYR 6,000,000
Paid
up capital : MYR 6,000,000
OWNERSHIP / SHAREHOLDERS
How listed : Full
List
Composition
Shareholder name :
Khor Keng Huat
Address : 1,
Jalan BU 3/2A
Bandar Utama Damansara
47800 Petaling Jaya Selangor Darul Ehsan
Malaysia
No. of shares : 1,125,000 Ordinary Shares
Shareholder name :
Khor Kian Hin
Address : 31,
Jalan PJU 3/12C
Tropicana Indah Resort Homes
47810 Petaling Jaya Selangor Darul Ehsan
Malaysia
No. of shares : 1,125,000 Ordinary Shares
Shareholder name :
Khor Kean Guan
Address : Malaysia
No. of shares : 1,125,000 Ordinary Shares
Shareholder name :
Khor Kean Hock
Address : 2A,
Jalan PJU 3/17B
Tropicana Indah Resort Homes
47810 Petaling Jaya Selangor Darul Ehsan
Malaysia
No. of shares : 2,625,000 Ordinary Shares
Related companies & corporate affiliations
Structure
Name : ES
FOOD INDUSTRIES SDN. BHD.
Affiliation type : Subsidiary
Address : Lot
17483, Jalan Dua, Taman Selayang Baru
Selayang Light Industrial Estate
68100 Selangor Darul Ehsan
Malaysia
BANK & MORTGAGES
Bank Details
Name of bank : Malayan Banking Berhad (Maybank)
Address : Malaysia
Account details :
Current Account
Name of bank : United Overseas 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: 1,000,000.00
Date of Creation: 08-08-1984
Name of Chargee: KWONG YIK BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,500,000.00
Date of Creation: 07-02-1985
Name of Chargee: KWONG YIK BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 400,000.00
Date of Creation: 23-04-1985
Name of Chargee: UNITED MALAYAN BANKING CORPBHD
Charge Status: FULLY SATISFIED
Total of Charge: 600,000.00
Date of Creation: 23-04-1985
Name of Chargee: UNITED MALAYAN BANKING CORPBHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,300,000.00
Date of Creation: 07-03-1986
Name of Chargee: PUBLIC BANK BHD
Charge Status: FULLY SATISFIED
Total of Charge: 500,000.00
Date of Creation: 09-03-1989
Name of Chargee: UNITED MALAYAN BANKING BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,100,000.00
Date of Creation: 16-02-1990
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 300,000.00
Date of Creation: 16-02-1990
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 3,250,000.00
Date of Creation: 14-06-1991
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 2,150,000.00
Date of Creation: 14-06-1991
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 14-06-1991
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 1,400,000.00
Date of Creation: 10-12-1991
Name of Chargee: PERWIRA HABIB BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 300,000.00
Date of Creation: 10-12-1991
Name of Chargee: PERWIRA HABIB BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 740,000.00
Date of Creation: 25-05-1992
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 740,000.00
Date of Creation: 25-05-1992
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD
Charge Status: FULLY SATISFIED
Total of Charge: 8,800,000.00
Date of Creation: 05-10-1994
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 4,900,000.00
Date of Creation: 06-11-1997
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 10,000,000.00
Date of Creation: 22-01-1998
Name of Chargee: THE PACIFIC BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 13,700,000.00
Date of Creation: 12-01-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 13,970,000.00
Date of Creation: 30-08-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,770,000.00
Date of Creation: 30-08-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,770,000.00
Date of Creation: 30-08-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 8,300,000.00
Date of Creation: 07-03-2003
Name of Chargee: AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 15,020,000.00
Date of Creation: 03-09-2003
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: 10,000,000.00
Date of Creation: 17-09-2007
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 18-12-2007
Name of Chargee: OCBC BANK (MALAYSIA) BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 25-02-2010
Name of Chargee: OCBC BANK (MALAYSIA) BERHAD
Charge Status: UNSATISFIED
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements :
None reported.
Tax liens : None
reported.
Others : None
reported
NCIAL DATA
Description
Comments : The
Subject has been exempted from revealing their financials. The Subject filed
for the certificate of exemption private company and their accountants states
that all liabilities are in good manner.
RATION DETAILS
Main activities : The Subject is engaged as importer and
exporter of agricultural products.
Product & services :
Canned Food
Health products
Marine products
Agricultural products
Pulses & Nuts
Spices
Purchases
International : India, China, Thailand, Indonesia, Pakistan,
New Zealand, Bangladesh
Sales
Local : Yes
International : Asia countries
Property &
Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office.
Branches : In addition,
the Subject operates from warehouse facilities located at:
Lot 17483, Jalan Dua, Taman Selayang Baru
Selayang Light Industrial Estate
68100 Selangor Darul Ehsan
Malaysia
Tel: +60 3 61386688
Fax: +60 3 61383855
ZED 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%
ENT HISTORY
Purchase Term
International : Prepayment,
Telegraphic transfer, Credit up to 90 days
Sales Term
Local : Prepayment, Bank transfer, Credit up to
90 days
International : Prepayment,
Telegraphic transfer, Credit up to 90 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 |
|
|
1 |
Rs.77.46 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.