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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MAC WORLD INDUSTRIES SDN. BHD. |
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Formerly Known As : |
MAC WORLD INCORPORATION SDN. BHD. |
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Registered Office : |
3A-11, Block B Phileo Damansara II 15, Jalan 16/11 Off Jalan Damansara Petaling Jaya Selangor Darul Ehsan 46350 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.05.2001 |
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Com. Reg. No.: |
548445-V |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Import & export of palm oil and palm oil products. |
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No. of Employees : |
14 employees |
RATING & COMMENTS
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MIRAs 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 110,000 |
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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 |
Verified Address
Subject name : MAC WORLD INDUSTRIES SDN. BHD.
Business address : 3A-11, Block B Phileo Damansara II
15, Jalan 16/11
Off Jalan Damansara
Town : Petaling Jaya
Province : Selangor Darul Ehsan
Zip/postal code : 46350
Country : Malaysia
Tel : +60 3 79547059
Fax : +60 3 79540059
Email : products@macworldinc.com
Website : www.macworldinc.com
Registered address : C/o NEWSCOPE SECRETARIAL SERVICES SDN BHD Suite 1207, 12th Floor
Kompleks Selangor
Jalan Sultan
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50000
Country : Malaysia
Executive Summary
Date founded or registered : 23/05/2001
Legal form : Private Company Limited By Shares
Chief executive : Abraham Thomas
Issued & paid up capital : MYR 2,415,370
Sales turnover : MYR 219,132,261 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 738,148 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 11,206,898 (Non-consolidated 12 months, 31/12/2010)
Line of business : Import & export of palm oil and palm oil products.
Staff employed : 14 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
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 110,000
Credit amount asked : Not described.
Comments : As the Subject is a trading company, it is very likely the Subject will have a large turnover however the profit margin will be small.
Registry Data
Registration date :
23/05/2001
Legal form : Private Company Limited By Shares
Registration no 548445-V
Registered authority : Companies
Commission of Malaysia
Registry status :
Live/Active
Previous name : The Subject was established under the
name MAC WORLD INCORPORATION SDN. BHD. and changed to the current style on
21-2-2008.
Change of legal form : None reported.
Key Management
Name : Abraham Thomas
Designation : Managing Director
Name : Shamsiah Binti Samli
Designation : Human Resources & Operation Manager
Name : Praseed Varma
Designation : Financial Manager
Appointments
Name : Sosheel Kumar A/l Tirathram Sharma
Designation : Director
Identification no : 520518-10-5253
Appointment date : 23/05/01
Address : No.1, Jalan Tempinis 4 (Lucky Gardens) Bangsar Baru
Kuala Lumpur 59100
Wilayah Persekutuan
Malaysia
Name : Abraham Thomas
Designation : Director
Identification no : 591205-75-5069
Appointment date : 23/05/01
Address : A-08-06, Vista Kiara Condominium
No.7, Jalan 1/61A Bukit Kiara 50480
Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Madonna A/p A M Francis
Designation : Company Secretary
Identification no : 580924-10-5026
Appointment date : 31/05/04
Address : No.3, Jalan Dua Taman Sri Bukit Jalan Bukit
43000 Kajang Selangor Darul Ehsan Malaysia
Name : Khaw Bee Ling
Designation : Company Secretary
Identification no : 630722-10-6154
Appointment date : 31/05/04
Address : No.39, Jalan Hujan Emas 4
Overseas Union Garden
58200 Kuala Lumpur Wilayah Persekutuan Malaysia
Staff employed : 14 employees
Key Advisors
Auditors : LLOYDS EARLE PANICKER INTERNATIONAL INC Suite 1.00, 6th Floor
Wisma Yakin
Jalan Masjid India
50100 Kuala Lumpur
Malaysia
Composition
Authorized Capital :
MYR 5,000,000
No of shares : 5,000,000 Ordinary Shares
Share par value :
MYR 1
Issued capital : MYR 2,415,370
Paid up capital :
MYR 2,415,370
Changed in capital : The Subject increased its share capital
from MYR 1,000,000 to MYR 5,000,000 on 13-01-2011.
How listed : Full List
Composition
Shareholder name : Abraham Thomas
Address : A-08-06, Vista Kiara Condominium
No.7, Jalan 1/61A Bukit Kiara 50480
Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 1,690,759 Ordinary Shares
Shareholder name : Shamsiah Binti Samli
Address : No. 15, Jalan AU 2C/2
Taman Desa Keramat
54200 Ampang Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 120,768 Ordinary Shares
Shareholder name : Sosheel Kumar A/l Tirathram Sharma
Address : No.1, Jalan Tempinis 4 (Lucky Gardens) Bangsar Baru
Kuala Lumpur 59100
Wilayah Persekutuan
Malaysia
No. of shares : 603,843 Ordinary Shares
Structure
Related companies and corporate affiliations comments: None reported.
Bank Details
Name of bank : Standard Chartered Bank Malaysia Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Deutsche Bank Malaysia Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Malayan Banking Berhad
Address : Malaysia
Account details : Current Account
Name of bank : HSBC Bank Malaysia 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.
Description
Source of financial statement :
Commercial Registry Filings
Financial statement date : 31/12/10
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate :
1 USD = MYR 3.02 as of 20-02-2012
Summarized Financial Information
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Consolidation
type : |
Non Consolidated |
Non Consolidated |
|
Currency : |
Malaysia, Ringgit (MYR) |
Malaysia, Ringgit (MYR) |
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Denomination : |
(x1) One |
(x1) One |
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Date of
financial year end : |
31/12/10 |
31/12/09 |
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Length of
accounts : |
12 months |
12 months |
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Sale turnover /
Income : |
219,132,261 |
88,228,795 |
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Gross profit : |
1,899,714 |
1,898,918 |
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Operating profit : |
947,240 |
352,498 |
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Profit before
tax : |
901,844 |
322,749 |
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Net income : |
738,148 |
247,487 |
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Non current
assets : |
157,944 |
216,179 |
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Current assets : |
11,048,954 |
8,838,696 |
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Inventories : |
370,240 |
652,175 |
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Total assets : |
11,206,898 |
9,054,875 |
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Current
liabilities : |
9,066,989 |
7,626,117 |
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Non current
liabilities : |
83,901 |
110,898 |
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Total
liabilities : |
9,150,890 |
7,737,015 |
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Share equity : |
2,056,008 |
1,317,860 |
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Retained earning : |
1,056,008 |
317,860 |
Main activities : The Subject is engaged in import & export of chemicals, soft oil, commodities (such as palm oil, sugar and timber) and food products.
Product & services :
1) Palm Oil & Palm Products (Edible) RBD Palm Olein
RBD Palm Oil
RBD Palm Stearin
RBD Palm Kernel Olein
RBD Palm Kernel Oil
2) Industrial Grade Palm Oil (Non Edible Soap Manufacturing Industries) Palm Fatty Acid Distillate
Palm Kernel Fatty Acid Distillate Coconut Fatty Acid Distillate Palm Kernel Acid Oil
Crude Palm Stearin
Soap Noodle of different Grades
Palm Acid Oil
3) Soft Oil (In consumer packs) Sunflower Oil
Soybean Oil Corn Oil Canola Oil Blended Oil
Crude Coconut Oil (CCNO) RBD Coconut Oil (RBD CNO)
4) Oleo Chemicals
Stearic Acid (Rubber & Cosmetic Grade) Refined Glycerine
Lauric Acid
Cetyl Alcohol
5) Confectionary & Bakery applications
Desiccated Coconut - High Fat/Medium Fat/Low Fat
Vegetable Shortening
Margarine (Cake/Pastry/Croissant) Bakery Fats
Vegetable Ghee
Cocoa Butter Substitutes Cocoa Butter Replacer Cocoa Butter Equivalent Chocolate Fat
Blended Butter
Ice Cream Fat
6) Building Materials - Timber Red Meranti/Yellow Meranti Merbau
Keruing
Yellow Balao
Teak Wood Plywood Particle Board Kempas
7) Flavor & Colors
8) Commodities
Rice - Raw White & Parboiled Rice Natural Whitish Sesame Seeds Crushing Quality Sesame Seeds Hulled Sesame Seeds
Refined Sugar
9) Chemicals
Sodium Tripolyphospate
Sodium Sulphate
Soda Ash (dense/light) Calcium Carbonate
10) Canned Foods Raw/Roasted Cashew Nuts Tomato Paste
Evaporated Milk
Condensed Milk
11) Cattle & Poultry Feeds
Energizer Fat for Cattle/Poultry(Vegetable Oil based) Soybean Meal
Rape Seed Meal
Safflower Meal
Sesame Oil Seed Meal Palm Kernel Cake Ground Nut Oil Cake Lysine
DCP DDGS
Corn Gluten Meal/Feed
Brand : Mac World Goldstar Mr. Mac
Golden Farm
Purchases
Local : Yes
International : Indonesia, Thailand, China
Sales
Local : None
International : Mainly to India, Pakistan, Europe, Middle East, Africa
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 31-12-2010 was MYR
157,944.
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%
Purchase Term
Local : Prepayment, Cash
International : L/C, Cash against document
Sales Term
International : L/C, Cash against document
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
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|
1 |
Rs.77.75 |
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Euro |
1 |
Rs.64.58 |
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 SCs 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.