MIRA INFORM REPORT
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Report Date : |
05.01.2012 |
IDENTIFICATION DETAILS
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Name : |
MEWAHOLEO INDUSTRIES SDN. BHD. |
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Formerly Known As : |
CONTAINER MAKERS SDN. BHD |
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Registered Office : |
Lot 40, Section 4, Fasa 2A Pulau Indah Industrial Park Jalan Sungai Pinang 5/1 Pulau Indah, Selangor Darul Ehsan, Zip/postal code 42920 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.02.1991 |
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Com. Reg. No.: |
213028-M |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Refining and sale of palm oil products |
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No. of Employees : |
400 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 12,000,000 |
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Status : |
Good |
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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 30th, 2011
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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 : MEWAHOLEO INDUSTRIES SDN. BHD.
Business address : PLO 283, Jalan Besi Satu
Pasir Gudang Industrial Estate
Town : Pasir udang
Province : Johor Darul Takzim
Zip/postal code : 81700
Country : Malaysia
Tel : +60 7 2677111
Fax : +60 7 2517926
Email : ir@mewahgroup.com
Website : www.mewahgroup.com
Registered address : Lot 40, Section 4, Fasa 2A Pulau Indah Industrial Park Jalan Sungai Pinang 5/1
Town : Pulau Indah
Province : Selangor Darul Ehsan
Zip/postal code : 42920
Country : Malaysia
Summary details
Executive Summary
Date founded or registered : 25/02/1991
Legal form : Private Company Limited By Shares
Chief executive : Anil Ingrole
Issued & paid up capital : MYR 10,000,000
Sales turnover : MYR 3,900,808,941 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 44,369,350 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 1,170,308,763 (Non-consolidated 12 months, 31/12/2010)
Line of business : Refining and sale of palm oil products.
Staff employed : 400 employees (Subject)
Credit risk opinion
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is very good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental found
Payment history : No payment delays noted
Credit amount suggestion : USD 12,000,000
Credit amount asked : Not described.
Comments : Larger credit can still be considered.
The Subject is well positioned in the market and the financial stability of the
group is positive.
Statutory details
Registry Data
Registration date : 25/02/1991
Legal form : Private Company Limited By Shares
Registration no 213028-M
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : The Subject was established under the
name CONTAINER MAKERS
SDN.
BHD. and changed to the current style on 19-01-1994.
Change of legal form : None reported.
Management / directors
Key Management
Name : Anil Ingrole
Designation : General Manager
Name : William Ong
Designation : Assistant Factory Manager
Board of directors / other
appointments
Appointments
Name : Datuk Dr. Fawzia Binti Abdullah
Designation : Director
Identification no : 430611-01-5050
Appointment date : 03/09/07
Address : No. 53, Jalan Cengal Pasir
Sierramas
47000 Sungai Buloh Selangor Darul Ehsan Malaysia
Name : Leong Choi Foong
Designation : Director and Company Secretary
Identification no : 560924-10-5466
Appointment date : 29/06/02
Address : B-5-7 Endah Regal Condominium
7 Jalan 3/149E Taman Sri Endah
57000 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Wong Lai Wan
Designation : Director Identification no : 601221-08-5604
Appointment date : 12/04/11
Address : No. 7, Jalan Suria 3
Taman Suria
81100 Johor Bahru Johor Darul Takzim Malaysia
Name : Leong Quee Me
Designation : Director
Identification no : 710727-05-5210
Appointment date : 01/11/10
Address : No. 18, Jalan Pulai 66
Taman Pulai Utama
81300 Skudai
Johor Darul Takzim
Malaysia
Staff employed : 400 employees (Subject)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS Level 10, 1 Sentral
Jalan Travers
Kuala Lumpur Sentral
50470 Kuala Lumpur
Malaysia
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 10,000,000
Paid up capital : MYR 10,000,000
Changed in capital : The Subject increased its share capital
from MYR 1,000,000 to MYR 10,000,000 on 18-11-1993.
ownership / shareholders
How listed : Full List
Composition
Shareholder name PADAT GAYA SDN. BHD.
Address Lot 40, Section 4, Fasa 2A
Pulau Indah Industrial Park
Jalan Sungai Pinang 5/1
42920 Pulau Indah Selangor Darul Ehsan Malaysia
No. of shares 10,000,000 Ordinary Shares
% of shares 100%
Related companies & corporate Affiliations
Structure
Name : MEWAH INTERNATIONAL INC.
Affiliation type : Ultimate Holding Company
Address : 5 International Business Park
#05-00 Mewah Building
Singapore 609914
Singapore
Comments : Mewah International Inc. is a company
registered in Cayman Islands
and
listed in Singapore Stock Exchange since 24 November 2010.
Mewah
International Inc. and its subsidiaries sources, refines, processes, packages,
and sells edible oils and fats. It offers edible oils and fats, including
specialty fats in bulk to wholesalers and processors for a range of end uses,
such
as applications
in the food, pharmaceutical, and oleochemical industries; and a range of edible
oils and fats, and specialised bakery and confectionery oils and fats in
consumer packs under its brands. The company provides palm oil, soft oil,
lauric oil, and specialty oils and fats, as well as consumer pack products,
such as cooking oils, special frying oils and fats, bakery fats, and
confectionery fats. It also manufactures food grade packaging materials, such
as jerry cans and polyethylene bags. In addition, the company engages in
toll-packing activities; manufactures plastic containers; trades palm oil and
palm oil related products; provides commodity brokerage services; and involves
in the dealing of shares, securities, and commodities. It sells its products
under various brands, including Oki, Mona, Turkey, Moi, Krispi, Mewah, Deli,
Cabbage, and Fry-ola brands
through a sales
and distribution network to approximately 100 countries located in Asia,
Africa, the Middle East, Europe, the Pacific Oceania, and the Americas. The
company was formerly known as Moi International Holdings Inc. and changed its
name to Mewah International Inc. in September 2010. Mewah International Inc. is
headquartered in Singapore.
Name ONE MARTHOMA (CI) INC.
Affiliation type Intermediate Holding Company
Address Harbour Place, 2nd Floor
103 South Church Street
P.O. Box 472
George Town
Grand Cayman, KY1-1106
Cayman Islands
Comments Investment holding company.
Name PADAT GAYA SDN. BHD.
Affiliation type Parent Company
Address Lot 40, Section 4, Fasa 2A Pulau Indah Industrial Park Jalan Sungai Pinang 5/1
42920 Pulau Indah Selangor Darul Ehsan Malaysia
Comments Investment holding company.
Name MEWAH OILS & FATS PTE LTD
Affiliation type Sister Company
Address 5 International Business Park
#05-00 Mewah Building
Singapore 609914
Singapore
Comments Trading of edible oils and providing commodity brokerage service.
Name NGO CHEW HONG OILS & FATS (M) SDN BHD
Affiliation type Sister Company
Address 23rd Mile Seremban Road
Jalan Rinching Hulu
43500 Semenyih Selangor Darul Ehsan Malaysia
Comments Refining and trading of palm oil products.
Name MOI INTERNATIONAL (SINGAPORE) PTE LTD
Affiliation type Sister Company
Address 5 International Business Park
#05-00 Mewah Building
Singapore 609914
Singapore
Comments Trading of edible oil products.
Name MEWAH-OILS SDN BHD
Affiliation type Sister Company
Address Lot 40, Section 4, Fasa 2A Pulau Indah Industrial Park Jalan Sungai Pinang 5/1
42920 Pulau Indah Selangor Darul Ehsan Malaysia
Comments Manufacturing and trading of palm oil products.
Name MOI FOODS MALAYSIA SDN BHD
Affiliation type Sister Company
Address Lot 40, Section 4, Fasa 2A Pulau Indah Industrial Park Jalan Sungai Pinang 5/1
42920 Pulau Indah Selangor Darul Ehsan Malaysia
Comments Manufacturing and trading of downstream palm oil products.
Name NGO CHEW HONG EDIBLE OIL PTE LTD
Affiliation type Sister Company
Address 231 Pandan Loop
Singapore 128418
Singapore
Comments Packaging and trading of edible oil.
Name MEWAH COMMODITIES PTE LTD
Affiliation type Sister Company
Address 5 International Business Park
#05-00 Mewah Building
Singapore 609914
Singapore
Comments : Trading of edible oils and fats in
commodity and investment holding.
Related companies
and corporate affiliations comments
Other companies of the Mewah International Group should be
considered affiliates of the Subject.
Bank & mortgages
Bank Details
Name of bank : Ambank (M) Berhad
Address : Malaysia
Account details : Current Account
Name of bank : CIMB Bank Berhad
Address : Malaysia
Account details : Current Account
Name of bank : RHB Bank 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: 20,000,000.00
Date of Creation: 11-08-1994
Name of Chargee: CIMB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 13,000,000.00
Date of Creation: 11-08-1994
Name of Chargee: BBMB INTERNATIONAL BANK L LTD
Charge Status: FULLY SATISFIED
Total of Charge: FOREIGN CURRENCY
Date of Creation: 20-09-1994
Name of Chargee: D C BANK L LIMITED
Charge Status: FULLY SATISFIED
Total of Charge: 20,000,000.00
Date of Creation: 20-09-1994
Name of Chargee: DEVELOPMENT COMMERCIAL BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: FOREIGN CURRENCY
Date of Creation: 02-03-1996
Name of Chargee: BBMB INTERNATIONAL L LTD
Charge Status: FULLY SATISFIED
Total of Charge: 20,000,000.00
Date of Creation: 28-08-1996
Name of Chargee: CIMB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 20,000,000.00
Date of Creation: 28-08-1996
Name of Chargee: CIMB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 10,000,000.00
Date of Creation: 17-12-1996
Name of Chargee: DCB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,000,000.00
Date of Creation: 08-12-1998
Name of Chargee: RHB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 20,000,000.00
Date of Creation: 30-12-1999
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 28,800,000.00
Date of Creation: 13-01-2001
Name of Chargee: CIMB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 28,800,000.00
Date of Creation: 10-01-2001
Name of Chargee: CIMB BANK BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 10,000,000.00
Date of Creation: 05-09-1996
Name of Chargee: RHB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 50,000,000.00
Date of Creation: 29-02-2008
Name of Chargee: BANGKOK BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 50,000,000.00
Date of Creation: 29-02-2008
Name of Chargee: BANGKOK BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 80,000,000.00
Date of Creation: 05-02-2009
Name of Chargee: AMISLAMIC BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 27-08-2010
Name of Chargee: AMBANK (M) BERHAD
Charge Status: UNSATISFIED
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 : 31/12/10
Type of accounts : Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.16 as of 02-01-2012
Summarized Financial Information
Consolidation type : Non
Consolidated Non
Consolidated Group Consolidated
Currency : Malaysia, Ringgit (MYR) Malaysia, Ringgit (MYR) US Dollar
(USD)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 31/12/10 31/12/09 31/12/10
Length of accounts : 12 months 12 months 12
months
Sale turnover / Income : 3,900,808,941 3,164,034,995 3,533,071,000
Gross profit : 59,106,140 165,294,355 260,098,000
Profit before tax : 57,390,467 133,269,509 108,688,000
Net income : 44,369,350 98,513,582 92,440,000
Non current assets : 135,497,665 120,981,677 227,666,000
Current assets : 1,034,811,098 667,024,240 1,005,976,000
Inventories : 295,583,949 172,061,484 243,959,000
Total assets : 1,170,308,763 788,005,917 1,233,642,000
Current liabilities : 952,012,854 556,626,834 690,662,000
Non current liabilities : 37,646,674 18,099,198 33,812,000
Total liabilities : 989,659,528 574,726,032 724,474,000
Share equity : 180,649,235 213,279,885 509,168,000
Retained earning : 143,945,078 174,636,483 330,287,000
Comments : The non-consolidated financial
information above relates to the Subject
only.
The group’s
consolidated financial information above relates to the Subject’s Ultimate
Holding Company Mewah International Inc. and all its subsidiaries which include
the Subject.
Operation details
Main activities : The Subject is engaged in refining palm
oil and sales of palm oil products.
The Subject is
part of Mewah International Inc. which is a public listed company in Singapore
Stock Exchange. Mewah Group is an integrated agri-business focused on edible
oils and fats. One of the largest palm oil processors in the world by capacity,
Mewah Group produces a wide range of refined and fractionated vegetable oils
and fats principally from palm oil,
as well as from
lauric oils, such as palm kernel oil and coconut oil, and from soft oils, such
as soybean oil, canola oil, sunflower seed oil and corn oil. Featuring an
integrated operations throughout the edible oils and fats value chain, from the
sourcing and processing of raw materials, to the packing, merchandising,
shipping and distribution of the products, Mewah Group’s products are sold to
customers in more than 100 countries.
Product & services : - Refined palm oil and palm oil
products : RBD Palm Oil, RBD Palm Olein, RBD Palm Stearin and Palm Fatty Acid
Distillate
- Specialty fats
Brand : Oki, Mona, Moi, Turkey, Mewah, Fry-ola
Purchases
Local : Yes
International : Asian countries
Sales
Local : Yes
International : Singapore, Russia, Australia, China,
India, Europe, Russia, Africa
Key events : Mewah International Inc Announces
Establishment Of New Subsidiaries
Friday, 11 Nov 2011
Mewah
International Inc announced that it has established following new subsidiaries,
PT Agro Baiduri, PT Harapan Bestari, PT Usaha Bestari, PT Usaha Lestari, for
Vegetable oils & fats processing purposes, with 95% holding and PT Usaha
Surya for Oleo chemical and biodiesel industry purposes, PT Fajar Bestari for
Wheat and flour and other related activities.
Mewah International Inc Announces Investment In Dairy
Products Facilities Friday, 12 Aug 2011
Mewah
International Inc announced that the Company plans to invest in dairy products
facilities in Pulau Indah Industrial Park, Selangor, Malaysia. The facilities
are budgeted to cost Malaysian Ringgits 146 million (approximately USD49
million) and will be funded from internal accruals and/or IPO proceeds and bank
borrowings. The project is expected to be completed in the first half of
financial year 2013.
Mewah International Inc's Subsidiary Announces Establishment
Of New Subsidiary: Mewah Oils (tianjin) Co., Ltd.
Thursday, 10 Feb 2011
Mewah
International Inc announced that the Group has incorporated a Company in
People’s Republic of China (PRC), Mewah Oils (Tianjin) Co., Ltd.. Mewah Oils (Tianjin)
Co., Ltd is a wholly owned subsidiary of the Company through Ngo Chew Hong Oleo
(S) Pte. Ltd. (NCHOS). NCHOS is a wholly owned subsidiary of Pandan Loop
International Inc., which in turn is a wholly owned subsidiary of the Company.
The Mewah Oils (Tianjin) Co., Ltd’s principal place of business is the PRC and
has a registered
share capital
of USD20million. Business of Mewah Oils (Tianjin) Co., Ltd is manufacturing,
trading, warehousing, and other related activities.
Mewah International Inc Announces Acquisition Of
Subsidiaries And
Associated Company
Wednesday, 12 Jan 2011
Mewah
International Inc announced that it has acquired two subsidiaries namely Ngo
Chew Hong Industries Pte Ltd and Ngo Chew Hong Investment Pte. Ltd., and an
associated company, Prelude Gateway Sdn. Bhd., from related parties for cash
considerations of approximately SGD0.16 million, SGD0.43 million and SGD0.11
million. The Acquisitions were funded from internal cash resources.
Mewah
International Inc Announces Completion Of Acquisition Of 52% Stake In Molly
Food Bvba
Monday, 27 Dec 2010
Mewah
International Inc announced that, further to the disclosure in the Prospectus,
on December 27, 2010, the Company has completed the acquisition of 52% of the
equity of Molly Food bvba, a company incorporated in Belgium which owns 100% of
Bloomland Enterprises, a company incorporated in Hong Kong, which owns 100% of
BeCe Sarl, a company incorporated in Togo involved primarily in importing
commodities (primarily edible oils and fats, including products produced by the
Group) for sale in West Africa. The shares have been acquired for a cash
consideration of EUR4.68 million by Moi Foods (Belgium) N.V. from ‘Olival BVBA’
and ‘Atmaca Beheer B.V.’, closed limited liability companies organised and existing
under the laws of Belgium and Netherlands respectively. Funding of the
acquisition has been made from the IPO proceeds.
Mewah International Inc Announces Establishment Of New
Subsidiary
Friday, 24 Dec 2010
Mewah International Inc announced that it has incorporated a
company in Belgium by the name of Moi Foods (Belgium) N.V. (the MFB) on 21
December 2010.
The MFB is a wholly owned subsidiary of the Company through Mewah Commodities
Pte Ltd (90%, MC) and Ngo Chew Hong Corporation Pte. Ltd. (10%, NCHC). MC is a
wholly owned subsidiary of NCHC, which in turn is a wholly owned subsidiary of
One Marthoma Inc. (ONEM), a direct wholly owned subsidiary of the Company. The
MFB’s principal place of business is Belgium with a registered share capital of
EUR61,500.00. The principal activity of MFB is that of an investment holding
Company. The initial public offering of the Company was sponsored by Credit
Suisse (Singapore) Limited. (the Issue Manager). The Issue Manager assumes no
responsibility for the contents of this announcement.
Mewah
International Inc Announces Acceptance Of Credit Facilities
Granted By Rabobank International, Singapore Branch
Monday, 20 Dec 2010
Mewah
International Inc announced that on December 17, 2010, its wholly owned
subsidiary, Mewah Oils & Fats Pte Ltd, has completed the acceptance of
credit facilities with a principal amount of USD100,000,000 granted by
Coopeartive Centrale Raiffeisen-Boerenleenbank B.A. (trading as Rabobank
International), Singapore Branch. As per the terms, the facility is to be
utilised to finance the working capital requirements, including letters of
credit, short-term advances, freight financing and bills purchase /
discounting. The Company is the corporate guarantor for this facility.
Mewah
International Inc Debuts On The SGX-ST Tuesday, 23 Nov 2010
Mewah
International Inc made its debut on the Main Board of Singapore Exchange
Securities Trading Limited (the SGX-ST). Mewah’s Initial Public Offer (the IPO
or the Offering) of 251,679,000 Offering Shares, was approximately 1.9 times
subscribed. Its Public Offer (excluding Reserved Shares) of 6,078,000 Offering
Shares received strong investor interest and was approximately 25.2 times
subscribed.
Mewah International Inc Lodges Prospectus With MAS For
Singapore
IPO-DJ
Friday, 29 Oct 2010
Dow Jones
reported that Mewah International Inc, filed a prospectus for an Initial Public
Offering in Singapore in which it said it aims to list on the Singapore
Exchange on November 24. The prospectus didn't give details on the size of the
offering or the amount the Company plans to raise. A person familiar with the
situation told Dow Jones Newswires that Mewah could raise as much as SGD400
million by selling between 15% and 20% of its equity in the IPO. Mewah said in
its prospectus that it intends to use the proceeds for expanding its existing
units and for new projects. The IPO will open to the public on November 16. BNP
Paribas and Credit Suisse
are advising Mewah on the IPO,
the prospectus said.
August 12 2010
Mewah Group Invests RM150 Million On Palm Oil Refinery In
POIC Lahad Datu
KOTA KINABALU,
Aug 12 (Bernama) — Mewah Group, a Singapore company with refineries in
Malaysia, is investing RM150 million to set up a
900,000 metric
tons per year palm oil refinery at the palm oil industrial cluster in Lahad
Datu (POIC Lahad Datu).
An agreement on
the purchase of 19.86 acres of land at POIC Lahad Datu was signed in Singapore
last Tuesday between POIC Sabah Sdn Bhd and Mewah Oils Sdn Bhd.
The refinery,
which will begin with an initial capacity of 500,000 metric tons, is the
biggest in Sabah where there are currently 10 refineries in different parts of
the state.
POIC Sabah
marketing manager Doreen Lim said the entry of Mewah Group represented a
strategic expansion of the group which is seeking to expand its already
significant presence in the palm oil refining sector.
Under the Mewah
banner are established Singapore-based companies such as Ngo Chew Hong Edible
Oils Ptd Ltd, Container Printers Pte Ltd, Choon Heng Transport &
Warehousing, Pte Ltd, G&U Logistics Group. Its manufacturing units in
Malaysia include Mewah Oils Sdn Bhd, Mewaholeo Industries Sdn Bhd, Moi Foods
Malaysia Sdn Bhd and Container Fabricator (M) Sdn Bhd.
The Mewah Group
made regional headlines recently when it was reported that it was planning to
raise RM1.6 billion in a Singapore initial public offer (IPO) for expansion of
its business.
“The group’s
turnover is estimated to be US$2 billion and its existing refineries (in
Peninsular Malaysia) are reported to have a combined output of 2.5 million
metric tons per year.
“So the
(900,000-ton) refinery in POIC Lahad Datu is adding a significant volume to the
group’s total output, thus making it an even bigger player in oils and fats,”
Lim said here Thursday.
The refinery is expected to create about 200 jobs.
Mewah will also
become the second company to set up refinery at POIC Lahad Datu, which to date
has attracted about 30 companies with total investment exceeding RM2 billion.
The other
refinery belongs to Zurex Corporation, a company with British interests.
Zurex’s 200,000 ton-per-year refinery is due to start operation in
2012.
The uniqueness
of the two refineries is that their owners do not own oil palm plantations, and
they are granted refinery licences by federal authorities to operate
exclusively in POIC Lahad Datu.
The presence of
the refineries in Lahad Datu is expected to trigger an inflow of crude palm oil
from neighbouring Kalimantan where many Malaysian plantation companies have
assets.
Lim said
investors are attracted to POIC Lahad Datu as its located near to the raw
materials, has a liquid oil jetty and a natural deep harbour with draft of over
20 metres capable of accommodating vessels up to 100,000 deadweight tons.
History : Mewah Group has been in operation since
the 1950s. In the early years, Mewah Group established packing operations
importing RBD palm oil and RBD palm olein from refineries in Johor, Malaysia,
repacking them in the facilities in Singapore and distributing them first in
Singapore and later, globally. In 1987, the Group commenced refining crude palm
oil in our first re?nery in Selangor, Malaysia with a production capacity of
400 M.T. a day or approximately 140,000 M.T. annually.
Today, the Mewah Group has grown to be one of the largest
edible oils and fats businesses in Asia with a current total refining capacity
of 8,000 M.T. a day or 2.8 million M.T. annually. The Group currently has three
refineries and processing plants located in Semenyih, Pasir Gudang and
Westport, Malaysia, two packing plants in Malaysia and one packing plant in Singapore.
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of a integrated refinery
complex and administrative office.
Branches : None reported.
Other property : Total NBV of property, plant and
equipment as of 31-12-2010 was MYR
135,497,665.
Summarized country risk
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold :
US$ 135.0 billion as of 15 December
2011
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
Local : Prepayment, D/P, Credit up to 90 days
International : L/C, D/P, Credit up to 90 days
Sales Term
Local : Prepayment, D/P, Credit up to 90 days
International : L/C, D/P, 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.53.14 |
|
UK Pound |
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.69.25 |
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.