|
Report Date : |
12.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SYNERGIC INDUSTRIAL MARKETING
SERVICES SDN. BHD. |
|
|
|
|
Registered Office : |
Unit No. B3-3A-13 & B3-5-13, Solaris Dutamas, No. 1, Jalan Dutamas 1, Kuala Lumpur, Wilayah Persekutuan, 50480 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
16.08.1999 |
|
|
|
|
Com. Reg. No.: |
491580-W |
|
|
|
|
Legal Form : |
Private Company Limited By Shares |
|
|
|
|
Line of Business : |
Engaged in trading of copper products mainly copper wires & rods. |
|
|
|
|
No. of Employees : |
15 employees |
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 30, 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 |
Verified Address
Subject
name : SYNERGIC INDUSTRIAL MARKETING
SERVICES SDN. BHD.
Business
address : Unit No. B3-3A-13 & B3-5-13
Solaris Dutamas
No. 1, Jalan Dutamas 1
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal
code : 50480
Country : Malaysia
Tel : +60 3 62054588
Fax : +60 3 62054688
Email : info@simsmalaysia.com
Website : www.simsmalaysia.com
Registered
address : C/o NK CORPORATE HOUSE SDN. BHD.
No. 79-1A, Jalan Bandar Satu
Pusat Bandar Puchong
Town : Puchong
Province : Selangor Darul Ehsan
Zip/postal
code : 47100
Country : Malaysia
Executive Summary
Date
founded or registered : 16/08/1999
Legal
form : Private Company Limited By Shares
Chief
executive : Rajiv Singh
Issued
& paid up capital : MYR 600,000
Sales
turnover : MYR 112,251,627 (Non-consolidated 12
months, 31/03/2011)
Net
income : MYR 96,501 (Non-consolidated 12 months,
31/03/2011)
Total
fixed assets : MYR 12,910,365 (Non-consolidated 12
months, 31/03/2011)
Line
of business : Trading of copper products mainly
copper rods and wires.
Staff
employed : 15 employees
Country
risk : Country risk is minimal
Operation
trend : Operational trend is steady
Management
experience : Management is reasonably 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
Registry Data
Registration
date : 16/08/1999
Legal
form : Private Company Limited By Shares
Registration
no 491580-W
Registered
authority : Companies Commission of Malaysia
Registry
status : Live/Active
Previous
name : None reported.
Change
of legal form : None reported.
Key Management
Name : Rajiv Singh
Designation : Managing
Director
Name : Deepanjali
Singh
Designation : Director
Appointments
Name : Dato' Yong Li Chian
Designation : Director
Identification
no : 470426-71-5078
Appointment
date : 19/02/10
Address : 1A-3-1 (PG-3), Persiaran Gurney
10250 Georgetown Pulau Pinang
Malaysia
Name : Rajiv Singh
Designation : Director
Identification
no : E1324621N
Appointment
date : 16/08/99
Address : A-16-5, Mont Kiara Condominium
Jalan Kiara 2
Mont Kiara
50480 Kuala Lumpur Wilayah
Persekutuan
Malaysia
Name : Deepanjali Singh
Designation : Director
Identification
no : Z1809297
Appointment
date : 15/02/01
Address : A-16-5, Mont Kiara Condominium
Jalan Kiara 2
Mont Kiara
50480 Kuala Lumpur Wilayah
Persekutuan
Malaysia
Name : Choo Mei Foon
Designation : Company Secretary
Identification
no : 670327-10-5852
Appointment date : 31/08/10
Address : 15, Jalan 8/149J Taman Seri Petaling
57000 Kuala Lumpur Wilayah
Persekutuan
Malaysia
Staff
employed : 15 employees
Auditors : NK
ASSOCIATES
77-1A, 1st Floor Jalan Bandar Satu
Pusat Bandar Puchong
47100 Puchong Selangor Darul Ehsan
Malaysia
Composition
Authorized
Capital : MYR 1,000,000
No
of shares : 1,000,000 Ordinary Shares
Share
par value : MYR 1
Issued
capital : MYR 600,000
Paid
up capital : MYR 600,000
Changed
in capital : The Subject increased its share capital
from MYR 500,000 to MYR 1,000,000 on
14-12-2007.
How
listed : Full List
Composition
Shareholder name :
SYNERGIC INDUSTRIAL MATERIALS &
SERVICES PTE. LTD.
Address : 105,
Cecil Street
#06-01, The Octagon
Singapore 069534
Singapore
No.
of shares : 600,000 Ordinary Shares
% of shares : 100%
Structure
Name : SYNERGIC INDUSTRIAL MATERIALS &
SERVICES PTE. LTD.
Affiliation
type : Parent Company
Address :
105, Cecil Street
#06-01, The Octagon
Singapore 069534
Singapore
Comments :
Trading in copper products and
investment holding company.
Name : SIMS COPPER SDN. BHD.
Affiliation
type :
Sister Company
Address :
LIU H62, Jalan FZ 10 – P3
Port Klang Free Zone / KS 12
42920 Pulau Indah Selangor Darul
Ehsan Malaysia
Comments :
Manufacturing of copper wires and rods.
Name : SYNERGIC INDUSTRIAL MATERIALS AND
SERVICES (INDIA) PRIVATE LIMITED
Affiliation
type :
Sister Company
Address :
India
Name : SIMS ASSETS HOLDINGS SDN. BHD.
Affiliation
type :
Associate
Address :
Unit No. B3-3A-13 & B3-5-13
Solaris Dutamas
No. 1, Jalan Dutamas 1
Kuala Lumpur 50480
Wilayah Persekutuan
Malaysia
Bank Details
Name
of bank : HSBC Bank Malaysia Berhad
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: 3,515,000.00
Date
of Creation: 25-04-2007
Name
of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: FULLY SATISFIED
Total
of Charge: OPEN CHARGE Date of Creation: 04-09-2007
Name
of Chargee: UNITED OVERSEAS BANK (MALAYSIA) BHD. Charge Status: UNSATISFIED
Total
of Charge: OPEN CHARGE Date of Creation: 04-09-2007
Name
of Chargee: UNITED OVERSEAS BANK (MALAYSIA) BHD. Charge Status: UNSATISFIED
Legal Fillings
Bankruptcy
fillings : None reported.
Court
judgements : None reported.
Tax
liens : None reported.
Others : None reported.
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 3.00 as of 09-02-2012
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 : |
112,251,627 |
42,039,411 |
|
Operating profit : |
197,526 |
85,718 |
|
Profit before tax : |
148,538 |
82,106 |
|
Net income : |
96,501 |
-30,420 |
|
Non current assets : |
2,371,656 |
2,074,103 |
|
Current assets : |
10,538,709 |
14,765,595 |
|
Total assets : |
12,910,365 |
16,839,698 |
|
Current liabilities : |
10,347,571 |
14,191,399 |
|
Non current liabilities : |
1,244,722 |
1,426,728 |
|
Total liabilities : |
11,592,293 |
15,618,127 |
|
Share equity : |
1,318,072 |
1,221,571 |
|
Retained earning : |
718,072 |
621,571 |
Main
activities : The Subject is engaged in trading of copper
products mainly copper wires
& rods.
The Subject is a wholly owned subsidairy of Synergic
Industrial Materials & Services Pte. Ltd incorporated in Singapore.
Synergic Industrial Materials & Services Pte. Ltd was voted Singapore's 50
best privately-held companies for 2010 & 2011.
Product
& services : Copper products:
Various kinds of Copper rods
& Copper wires
Services:
Supply
chain management
Logistics
management
Risk
management
Purchases
Local : Yes
International : Mainly
from India, China
Sales
Local : Yes
International : Southeast
Asia, Africa, Middle East
Key
events : SIMS Group Managing Director receives
Indian Entrepreneur of the Year
Award
Thursday,
28 October 2010
Synergic
Industrial Materials & Services (SIMS) Pte Ltd, Group Managing
Director,
Rajiv Singh, received the award for Leading Indian Entrepreneur
2010,
Category 1 - Large Enterprise by the Singapore Indian Chambers of Commerce and
Industry (SICCI)-DBS Singapore Indian Entrepreneur Awards (SIEA).
The
event held on Thursday, 28th October 2010 at the Ritz-Carlton Millennia with
Minister of Education, Dr. Ng Eng Hen as guest of honour for SICCI's 86th
Anniversary Dinner and Presentation Ceremony. Also present was Mr. Inderjit
Singh, Member of Parliament for Ang Mo Kio, GRC as well as leading thinkers and
decision makers in Singapore.
The
first round of selection was undertaken by KMPG, the Knowledge Advisor for the
SIEA since its inception. The process involved interviews and a comprehensive
review and evaluation of all the applications.
"I'm
honoured to receive this award because it is also recognition for my colleagues
at SIMS for their teamwork. They truly deserve it." said Rajiv.
The
SIMS Group is a focused provider of copper and copper related products. Founded
a decade ago, SIMS Group, is today an industrial group
with
clusters in South East Asia & the Indian sub continent including a
manufacturing facility located in Malaysia. Going forward, SIMS aims to
accelerate value growth in trading capabilities, enhance infrastructure and
production technologies through strategic partnerships as well as organic
growth.
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 31-03-2011 was MYR
2,371,656.
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%
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 : L/C, Telegraphic transfer, Credit 30-90
days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Telegraphic transfer, Credit 30-90
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.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.79 |
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.