MIRA INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
YONG LEE CHAN SDN. BHD. |
|
|
|
|
Registered Office : |
No. 5A, Jalan Rotan Cucur, Taman Sri Jaya, Batu Pahat, Johor Darul Takzim, Zip/postal code 83000 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
18.09.1979 |
|
|
|
|
Com. Reg. No.: |
50651-V |
|
|
|
|
Legal Form : |
Private Company Limited By Shares |
|
|
|
|
Line of Business : |
Importer and distributor of groceries, dried food stuff and canned food etc. |
|
|
|
|
No. of Employees : |
70 |
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
160,000 |
|
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 |
Identification details
Verified Address
Subject name : YONG LEE CHAN SDN. BHD.
Business address : Lot 4744, 3 1/2 Miles
Jalan Tanjong Laboh
Town : Batu Pahat
Province : Johor Darul Takzim
Zip/postal code : 83000
Country : Malaysia
Tel : +60 7 4286666
Fax : +60 7 4286678
Email : info@yongleechan.com
Website : www.yongleechan.com
Registered address : No. 5A, Jalan Rotan Cucur
Taman Sri Jaya
Town : Batu Pahat
Province : Johor Darul Takzim
Zip/postal code : 83000
Country : Malaysia
Summary details
Executive Summary
Date founded or registered : 18/09/1979
Legal form : Private Company Limited By Shares
Chief executive : Lim Siang Hwe
Issued & paid up capital : MYR 1,500,000
Line of business : Importer and distributor of groceries, dried food stuff and canned food etc. Staff employed: 70 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 undetermined
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment
history : No payment delays noted
Credit
amount suggestion : USD 160,000
Credit amount asked : Not described.
Statutory details
Registry Data
Registration date : 18/09/1979
Legal form : Private Company Limited By Shares
Registration no : 50651-V
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 : Lim
Siang Hwe
Designation : Managing Director
Board of directors / other
appointments
Appointments
Name : Lim Kear Chiew
Designation : Director
Identification no : 240714-71-5343
Appointment date : 18/09/79
Address : 5A, Jalan Resak
Taman Batu Pahat
83000 Batu Pahat Johor Darul Takzim Malaysia
Name : Lim Siang Hwe
Designation : Director
Identification no : 720406-01-6375
Appointment date : 15/11/93
Address : 5A, Jalan Resak
Taman Batu Pahat
83000 Batu Pahat Johor Darul Takzim Malaysia
Name : Phan Li Ching
Designation : Company Secretary
Identification no : 700517-01-5246
Appointment date : 15/06/05
Address : 66, Jalan Maju 1
Taman Maju
83000 Batu Pahat Johor Darul Takzim Malaysia
Staff employed : 70 employees
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 1,500,000
Paid up capital : MYR 1,500,000
ownership / shareholders
How listed : Full List
Composition
Shareholder name Lim Siang Hwe
Address 5A, Jalan Resak
Taman Batu Pahat
83000 Batu Pahat Johor Darul Takzim Malaysia
No. of shares 1,100,000 Ordinary Shares
Shareholder name Lim Kear Chiew
Address 5A, Jalan Resak
Taman Batu Pahat
83000 Batu Pahat Johor Darul Takzim Malaysia
No. of shares 375,000 Ordinary Shares
Shareholder name Lim Ah Moy
Address 5A, Jalan Resak
Taman Batu Pahat
83000 Batu Pahat Johor Darul Takzim Malaysia
No. of shares 25,000 Ordinary Shares
Related companies & corporate Affiliations
Structure
Name : Y.L.C. CASH & CARRY SDN. BHD.
Affiliation type : Associate
Address : Lot 4744, 3 1/2 Miles
Jalan Tanjong Laboh
83000 Batu Pahat Johor Darul Takzim Malaysia
Name Y.L.C. REALTY SDN. BHD.
Affiliation type Associate
Address Lot 4744, 3 1/2 Miles
Jalan Tanjong Laboh
83000 Batu Pahat Johor Darul Takzim Malaysia
Bank & mortgages
Bank Details
Name of bank : HSBC Bank Malaysia Berhad
Address : Malaysia
Account details : Current Account
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
Total of Charge: 200,000.00
Date of Creation: 15-06-1982
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 170,000.00
Date of Creation: 30-10-1984
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 50,000.00
Date of Creation: 20-12-1984
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 50,000.00
Date of Creation: 05-04-1986
Name of Chargee: AMBANK (M) BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 250,000.00
Date of Creation: 19-01-1989
Name of Chargee: UNITED MALAYAN BANKING CORP BHD
Charge Status: FULLY SATISFIED
Total of Charge: 500,000.00
Date of Creation: 01-08-1991
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BHD
Charge Status: FULLY SATISFIED
Total of Charge: 700,000.00
Date of Creation: 01-08-1991
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BHD
Charge Status: FULLY SATISFIED
Total of Charge: 608,000.00
Date of Creation: 15-10-1991
Name of Chargee: UNITED MALAYAN BANKING CORPBERHAD
Charge Status: UNSATISFIED
Total of Charge: 27,363.00
Date of Creation: 11-12-1992
Name of Chargee: BANK ISLAM MALAYSIA BHD Charge Status:
FULLY SATISFIED
Total of Charge: 820,915.00
Date of Creation: 04-01-1993
Name of Chargee: BANK ISLAM MALAYSAI BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BHD
Charge Status: FULLY SATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 2,650,000.00
Date of Creation: 20-03-1995
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 600,000.00
Date of Creation: 09-05-1995
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 320,000.00
Date of Creation: 28-03-1997
Name of Chargee: SIME BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,500,000.00
Date of Creation: 20-09-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 1,500,000.00
Date of Creation: 20-09-1999
Name of Chargee: PERWIRA AFFIN BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 2,000,000.00
Date of Creation: 10-04-2002
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,900,000.00
Date of Creation: 26-01-2004
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: 250,000.00
Date of Creation: 26-01-2004
Name of Chargee: MALAYAN BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: 5,000,000.00
Date of Creation: 10-02-2009
Name of Chargee: HSBC BANK MALAYSIA BERHAD
Charge Status: UNSATISFIED
Total of Charge: 5,000,000.00
Date of Creation: 15-09-2010
Name of Chargee: HSBC BANK MALAYSIA BERHAD
Charge Status: UNSATISFIED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
financial 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.
Operation details
Main activities : The Subject is engaged as importer and distributor of groceries, dried food stuff and
canned food etc.
Purchases
International : India, China, United States, Australia,
Pakistan, Bangladesh
Sales
Local : Yes
International : None reported.
Property & Assets
Premises : The Subject operates from premises located
at 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 : Prepayment, Telegraphic transfer,
Credit up to 90 days
Sales Term
Local : Prepayment, Bank 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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.