MIRA INFORM REPORT

 

 

Report Date :           

30.01.2012

 

IDENTIFICATION DETAILS

 

Name :

CHIP HONG RUBBER SENDIRIAN BERHAD

 

 

Registered Office :

C/O Tricor Corporate Services Sdn Bhd Suite 1308, Level 13, City Plaza, Jalan Tebrau , Johor Bahru , Johor Darul Takzim, Zip/Postal Code 80300

 

 

Country :

Malaysia

 

 

Financials (as on) :

30.06.2009

 

 

Date of Incorporation :

27.07.1970                   

 

 

Com. Reg. No.:

9801-M

 

 

Legal Form :

Private Limited Company Limited By Shares

 

 

Line of Business :

Processing and trading of rubber

 

 

No. of Employees :

34 including directors

 

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 120,000

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

 

 

 Bottom of Form

Identification details  Bottom of Form

 

 

Verified Address

 

Subject name                :           CHIP HONG RUBBER SENDIRIAN BERHAD

 

Business address          :           24 1/2 M.S.

Jalan Air Hitam

Town                             :           Kulai

Province                        :           Johor Darul Takzim

Zip/postal code              :           81000

Country                         :           Malaysia

Tel                                :           +60 7 6523732 / 6523235

Fax                               :           +60 7 6523236

Email                            :           chiphr@streamyx.com 

 

Registered address        :           C/o TRICOR CORPORATE SERVICES SDN BHD

Suite 1308, Level 13, City Plaza

Jalan Tebrau

Town                             :           Johor Bahru

Province                        :           Johor Darul Takzim

Zip/postal code              :           80300

Country                                                           :                       Malaysia

 

 

Summary details

 

Executive Summary

Date founded or registered          :   27/07/1970

Legal form                                 :   Private Limited Company Limited By Shares

Chief executive                          :   Koh Guan Huatt

Issued & paid up capital             :   MYR 1,000,000

Sales turnover                            :   MYR 48,225,119 (Non-consolidated 12 months, 30/06/2009)

Net income                                :   MYR 536,688 (Non-consolidated 12 months, 30/06/2009)

Total fixed assets                       :   MYR 6,167,524 (Non-consolidated 12 months, 30/06/2009)

Line of business             :   Processing and trading of rubber.

Staff employed                           :   34 including directors

 

 

Credit risk opinion

 

Company Analysis

 

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is declining

Management experience :   Management is reasonably experienced

Financial performance                :   Financial performance is good

Organization structure                :   Organizational structure is stable

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

Credit amount suggestion     :   USD 120,000

Credit amount asked                  :   Not described.

 

 

Statutory details

 

Registry Data

Registration date            :   27/07/1970

Legal form                     :   Private Limited Company Limited By Shares

Registration no              : 9801-M

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                           :      Koh Guan Huatt

Designation                                                   :            Managing Director

 

 

Board of directors / other appointments

 

Appointments

 

Name                            :           Koh Kian Huat

Designation                   :           Director

Identification no              :           1104477H

Appointment date           :           15/05/82

Address                        :           146 Onan Road

Singapore 424549

Singapore

 

Name                            :           Koh Guan Huatt

Designation                   :           Director

Identification no              :           510401-01-5183

Appointment date           :           15/05/82

Address                        :           No.5, Jalan Tasek Dua

Taman Tasek

80200 Johor Bahru Johor Darul Takzim Malaysia

 

Name                            :           Koh Wei Jeck @ Xu Weijie

 

Designation                   :           Director

Identification no              :           S8039911A

Appointment date           :           14/09/10

Address                        :           10G Braddell Hill

#19-28

Singapore 579726

Singapore

 

Name                :           Tan Tai Yong

Designation       :           Director

Identification no  :           670806-01-5117

Appointment date           :           14/09/10

 

Address            :           No. 6 Jalan Gaya 3

Taman Gaya

81800 Ulu Tiram Johor Darul Takzim Malaysia

Name              :                       Yong May Li

 

 

 

Designation       :           Company Secretary

 

Identification no  :           560419-01-5064

 

Appointment date           :           29/03/95

 

Address            :           No. 25, Jalan Setia 5/2

Taman Setia Indah

81100 Johor Bahru Johor Darul Takzim Malaysia

Staff employed   :           34 including directors

 

 

Key Advisors

Auditors                        GOW & TAN

Suite 1308, Level 13, City Plaza

Jalan Tebrau

80300 Johor Bahru Johor Darul Takzim Malaysia

 

 

Share capital

 

Composition

Authorized Capital                                 :   MYR 1,000,000

No of shares                                         :   10,000 Ordinary Shares

Share par value                                     :   MYR 100

Issued capital                                       :   MYR 1,000,000

Paid up capital                                                                                              :   MYR 1,000,000

 

 

ownership / shareholders

 

How listed         :   Full List

 

Composition

Shareholder name          Khoo Cheyu Hong @ Koh Ah Moi

Address                        Blk 731, Clementi West Street 2

Singapore 120731

Singapore

No. of shares                 650 Ordinary Shares

 

Shareholder name          Koh Kian Huat

Address                        146 Onan Road

Singapore 424549

Singapore

No. of shares                 3,200 Ordinary Shares

 

Shareholder name          Tan Ah Yeo @ Tan Ha Yeo

Address                        No. 86 Jalan Cahaya 9

Taman Cahaya

Jalan Parit Mesjid

82000 Pontian Johor Darul Takzim Malaysia

No. of shares                 1,650 Ordinary Shares

 

Shareholder name          Chua Cheng Hock

Address                        144 Onan Road

Singapore 424549

Singapore

No. of shares                 600 Ordinary Shares

 

Shareholder name          Koh Guan Huatt

Address                        No.5, Jalan Tasek Dua

Taman Tasek

80200 Johor Bahru Johor Darul Takzim Malaysia

No. of shares                          3,900 Ordinary Shares

 

 

Related companies & corporate Affiliations

 

Structure

 

Related companies and corporate affiliations comments : None Reported

 

 

Bank & mortgages

 

Bank Details

 

Name of bank                                       :   Malayan Banking Berhad

Address                                               :   Malaysia

Account details                                     :   Current Account

 

Name of bank                                       :   Public 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: 600,000.00

Date of Creation: 15-10-1979

Name of Chargee: MALAYAN BANKING BHD

Charge Status: UNSATISFIED

 

Total of Charge: 600,000.00

Date of Creation: 04-08-1994

Name of Chargee: MALAYAN BANKING BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 30,000.00

Date of Creation: 04-08-1994

Name of Chargee: MALAYAN BANKING BERHAD

Charge Status:UNSATISFIED

 

Total of Charge: 1,000,000.00

Date of Creation: 21-07-1995

Name of Chargee: MALAYAN BANKING BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 1,820,000.00

Date of Creation: 24-06-1997

Name of Chargee: MALAYAN BANKING BERHAD

Charge Status: UNSATISFIED

 

Total of Charge: 2,650,000.00

Date of Creation: 13-07-2004

Name of Chargee: MALAYAN BANKING 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                         :   30/06/09

Type of accounts                                    :   Full audited

Currency                                                :   Malaysia, Ringgit (MYR)

Exchange rate                                        :   1 USD = MYR 3.04 as of 26-01-2012

 

 

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                    :

30/06/09

30/06/08

Length of accounts                             :

12 months

12 months

Sale turnover / Income                         :

48,225,119

60,802,110

Gross profit                                        :

2,562,139

3,637,975

Operating profit                                   :

883,469

1,032,217

Profit before tax                                  :

701,291

802,552

Net income                                        :

536,688

604,919

Non current assets                             :

849,859

705,646

Current assets                                    :

5,317,665

6,457,086

Inventories                                          :

1,897,721

3,045,799

Total assets                                       :

6,167,524

7,162,732

Current liabilities                                 :

1,753,084

3,330,580

Non current liabilities                           :

45,600

0

Total liabilities                                    :

1,798,684

3,330,580

Share equity                                       :

4,368,840

3,832,152

Retained earning                                 :

3,368,840

2,832,152

 

 

 

 

Operation details

 

Main activities                :   The Subject is engaged in processing and trading of rubber.

 

Product & services         :   SMR 20, SMR 10, SMR 5, SMR 5L, SVR 3L, Latex 60% HA

 

Brand                            :   Chip Hong Crumb

 

Purchases

 

Local                :   Yes

International       :   Mainly from Indonesia, Thailand, Vietnam

 

Sales

 

Local                :   Yes

International       :   Worldwide

 

Property & Assets

Premises          :   The Subject operates from premises located at the verified heading address consisting of

production facilities, 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

Local                                                    :   Prepayment, Bank transfer, Credit up to 90 days

International                                          :   L/C, Telegraphic transfer, Credit up to 90 days

 

Sales Term

Local                                                    :   Prepayment, Bank transfer, Credit up to 90 days

International                                          :   L/C, 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.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.