MIRA INFORM REPORT

 

 

Report Date :

20.07.2012

 

IDENTIFICATION DETAILS

 

Name :

JETEXIM BUSINESS SDN BHD

 

 

Registered Office :

1-1 Room B, Jalan Marin, Taman Marin, Jalan Haji Abdullah, 1st Floor, 84000 Muar, Johor

 

 

Country :

Malaysia

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

26.08.2002

 

 

Com. Reg. No.:

590730-V

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Manufacturing of furniture and furniture parts

 

 

No. of Employees :

60

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

590730-V

COMPANY NAME

:

JETEXIM BUSINESS SDN BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

26/08/2002

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL STATUS

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

1-1 ROOM B, JALAN MARIN, TAMAN MARIN, JALAN HAJI ABDULLAH, 1ST FLOOR, 84000 MUAR, JOHOR, MALAYSIA.

BUSINESS ADDRESS

:

105, JALAN BAKARIAH, 84000 MUAR, JOHOR, MALAYSIA.

TEL.NO.

:

06-9555855

FAX.NO.

:

06-9549876

CONTACT PERSON

:

LIM KANG TIAN ( CEO )

 

 

 

INDUSTRY CODE

:

3610

PRINCIPAL ACTIVITY

:

MANUFACTURING OF FURNITURE AND FURNITURE PARTS

AUTHORISED CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO 
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 650,000.00 DIVIDED INTO 
ORDINARY SHARES 650,000 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 16,919,307 [2008]

NET WORTH

:

MYR 1,682,618 [2008]

 

 

 

STAFF STRENGTH

:

60 [2012]

BANKER (S)

:

OCBC BANK (MALAYSIA) BHD
UNITED OVERSEAS BANK (MALAYSIA) BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

HIGH

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

HISTORY / BACKGROUND

 

The SC is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, suing or be sued by other companies. The SC is governed by the Companies Act, 1965 and must file in its annual return. The SC need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the SC is able to meet all its obligations as and when they fall due. Although the SC is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.

 

The SC is principally engaged in the (as a / as an) manufacturing of furniture and furniture parts.

 

The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

 

The major shareholder(s) of the SC are shown as follows

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MS. SIM WEE CHEN +

100-19, JALAN MAWAR 6, TAMAN SRI TANJUNG, JALAN ABDUL RAHMAN, 84000 MUAR, JOHOR, MALAYSIA.

650604-01-5102

325,000.00

50.00

MR. LIM KANG TIAN +

100-19, JALAN MAWAR 6, TAMAN SRI TANJUNG, JALAN ABDUL RAHMAN, 84000 MUAR, JOHOR, MALAYSIA.

640227-04-5779

325,000.00

50.00

 

 

 

---------------

------

 

 

 

650,000.00

100.00

 

 

 

============

=====

 

+ Also Director

 

DIRECTORS

 


DIRECTOR 1

 

Name Of Subject

:

MS. SIM WEE CHEN

Address

:

100-19, JALAN MAWAR 6, TAMAN SRI TANJUNG, JALAN ABDUL RAHMAN, 84000 MUAR, JOHOR, MALAYSIA.

 

 

 

New IC No

:

650604-01-5102

Date of Birth

:

04/06/1965

 

 

 

Nationality

:

MALAYSIAN CHINESE

Date of Appointment

:

26/08/2002

 

DIRECTOR 2

 

Name Of Subject

:

MR. LIM KANG TIAN

Address

:

100-19, JALAN MAWAR 6, TAMAN SRI TANJUNG, JALAN ABDUL RAHMAN, 84000 MUAR, JOHOR, MALAYSIA.

 

 

 

New IC No

:

640227-04-5779

Date of Birth

:

27/02/1964

 

 

 

Nationality

:

MALAYSIAN CHINESE

Date of Appointment

:

26/08/2002

 

MANAGEMENT

 

 

 

1)

Name of Subject

:

LIM KANG TIAN

 

Position

:

CEO

 

 

AUDITOR

 

Auditor

:

SEE HOCK CHUAN & CO

Auditor' Address

:

1-1, JALAN MARIN, TAMAN MARIN, JALAN HAJI ABDULLAH, 1ST FLOOR A, 84000 MUAR, JOHOR, MALAYSIA.

 

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. PANG CHONG SENG

 

IC / PP No

:

A2112069

 

New IC No

:

711231-01-5113

 

Address

:

144-9, JALAN SALLEH, 84000 MUAR, JOHOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

OCBC BANK (MALAYSIA) BHD

 

 

 

 

 

2)

Name

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

The SC enjoys normal banking routine with above mentioned banker(s). The SC has bank charges with above mentioned banker(s).

 

 

ENCUMBRANCE (S)


ENCUMBRANCE 1

Date of Creation

:

07/11/2007

Description Of Charge

:

OPEN CHARGE

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

OCBC BANK (MALAYSIA) BHD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 2 In The Register of Charges



ENCUMBRANCE 2

Date of Creation

:

28/04/2008

Description Of Charge

:

N/A

 

Amount Secured

:

RM1,100,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 3 In The Register of Charges



ENCUMBRANCE 3

Date of Creation

:

28/04/2008

Description Of Charge

:

N/A

 

Amount Secured

:

RM100,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 4 In The Register of Charges



LEGAL CHECK AGAINST SC


* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank. 

No winding up petition was found in our databank. 

DEFAULTER CHECK AGAINST SC


* We have checked through the SC in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection since 1990. Information was provided by third party where the debt amount can be disputed. Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed. 

No blacklisted record & debt collection case was found in our defaulters' databank. 

PAYMENT RECORD

 

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

 

 

 



CLIENTELE

 

Local

:

YES

Percentage

:

5%

 

Domestic Markets

:

MALAYSIA

 

Overseas

:

YES

Percentage

:

95%

 

Export Market

:

AUSTRALIA, MIDDLE EAST, EUROPE, UNITED STATES

 

Credit Term

:

30 - 60 DAYS

 

 

 

 

 

 

 

 

Payment Mode

:

TELEGRAPHIC TRANSFER (TT),LETTER OF CREDIT (LC)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Products manufactured

:

BEDROOM, SOFA SETS, WOODEN DINING SETS

 

 

 

Competitor(s)

:

AHB HOLDINGS BHD
FEDERAL FURNITURE HOLDINGS (M) BHD
H.K.T. (MALAYSIA) SDN BHD
LCL CORPORATION BHD
SHH RESOURCES HOLDINGS BHD

 

 

 

 

 

 

 

 

Member(s) / Affiliate(s)

:

SMI ASSOCIATION OF MALAYSIA

MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE)

MALAYSIA FURNITURE INDUSTRY

 

 

 

 

Total Number of Employees:

YEAR

2012

2011

 

 

GROUP

N/A

N/A

 

 

 

 

 

 

 

COMPANY

60

60

 

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) manufacturing of furniture and furniture parts.

The SC specializing in designing and manufacturing a series of household furnitures.

The SC mainly produces dining sets.

The SC's products are mainly for overseas market. 

 

PROJECTS


No projects found in our databank 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

069555855

Current Telephone Number

:

06-9555855

Match

:

YES

 

 

 

Address Provided by Client

:

105, JALAN BAKARIAH,84000,MUAR,JOHOR.

Current Address

:

105, JALAN BAKARIAH, 84000 MUAR, JOHOR, MALAYSIA.

Match

:

YES

 

 

 

Latest Financial Accounts

:

NO

 

Other Investigations


On 16th July 2012 we contacted one of the staff from the SC and she provided some information on the C.


FINANCIAL ANALYSIS

 

The SC is a private exempt company which does not need to file in its accounts with the Registrar of Companies for the information of the public. Therefore, we are not able to comment on the SC's financial performance.

 

 

 

 

 

 

 

Overall financial condition of the SC : N/A

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2008

2009

2010

2011*

2012**

 

 

 

 

 

 

Population ( Million)

27.73

28.13

28.35

28.70

29.10

Gross Domestic Products ( % )

4.6

<0.5>

7.2

5.5

5.3

Domestic Demand ( % )

6.9

2.9

6.3

4.8

7.6

Private Expenditure ( % )

7.1

<2.7>

8.1

7.0

8.7

Consumption ( % )

8.4

0.7

6.7

6.3

7.1

Investment ( % )

1.5

<17.2>

17.7

16.2

15.9

Public Expenditure ( % )

6.5

5.2

3.8

7.6

4.7

Consumption ( % )

11.6

3.1

0.2

8.9

3.0

Investment ( % )

0.7

8.0

2.8

0.6

7.0

 

 

 

 

 

 

Balance of Trade ( MYR Million )

129,563

89,650

118,356

116,058

-

Government Finance ( MYR Million )

<34,462>

<28,450>

<40,482>

<45,511>

<43,021>

Government Finance to GDP / Fiscal Deficit ( % )

<4.8>

<4.8>

<5.6>

<5.4>

<4.7>

Inflation ( % Change in Composite CPI)

<3.3>

<5.2>

5.1

3.1

-

Unemployment Rate

3.7

4.5

3.9

3.3

-

 

 

 

 

 

 

Net International Reserves ( MYR Billion )

388

331

329

415

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

1.91

2.87

2.20

3.50

-

Average 3 Months of Non-performing Loans ( % )

13.24

11.08

15.30

14.80

-

Average Base Lending Rate ( % )

6.72

5.53

6.30

6.60

-

Business Loans Disbursed( % )

11.6

10.5

14.7

15.3

-

Foreign Investment ( MYR Million )

23,261.4

22,156.8

22,517.9

23,546.1

-

Consumer Loans ( % )

-

-

-

-

-

 

 

 

 

 

 

Registration of New Companies ( No. )

41,599

41,578

44,148

-

-

Registration of New Companies ( % )

<4.0>

<0.1>

6.2

-

-

Liquidation of Companies ( No. )

27,992

39,075

25,585

-

-

Liquidation of Companies ( % )

23.7

39.6

<34.5>

-

-

 

 

 

 

 

 

Registration of New Business ( No. )

269,866

312,581

271,414

-

-

Registration of New Business ( % )

-

-

-

-

-

Business Dissolved ( No. )

18,885

19,345

19,738

-

-

Business Dissolved ( % )

<7.6>

2.4

2.0

-

-

 

 

 

 

 

 

Sales of New Passenger Cars (' 000 Unit )

497.5

486.3

543.6

363.0

-

Cellular Phone Subscribers ( Million )

25.1

30.1

32.8

35.3

-

Tourist Arrival ( Million Persons )

21.5

23.6

24.6

25.3

-

Hotel Occupancy Rate ( % )

68.0

58.0

63.0

51.3

-

 

 

 

 

 

 

Credit Cards Spending ( % )

17.1

12.8

14.1

15.6

-

Bad Cheque Offenders (No.)

34,834

36,667

33,568

27,208

-

Individual Bankruptcy ( No.)

13,907

16,228

18,119

16,155

-

Individual Bankruptcy ( % )

5.1

16.7

11.7

<10.8>

-

 

 

 

 

 

 



INDUSTRIES ( % of Growth ):

2008

2009

2010

2011*

2012**

 

 

 

 

 

 

 

 

Agriculture

3.6

0.4

2.1

4.7

4.1

 

Palm Oil

7.0

<1.1>

<3.4>

7.3

-

 

Rubber

<1.1>

<19.8>

9.9

6.4

-

 

Forestry & Logging

<1.5>

<5.9>

<3.3>

<4.7>

-

 

Fishing

4.0

5.5

5.6

2.8

-

 

Other Agriculture

5.9

9.0

7.9

8.5

-

 

Industry Non-Performing Loans ( MYR Million )

393.0

413.7

508.4

634.1

-

 

% of Industry Non-Performing Loans

<2.0>

1.3

2.1

3.2

-

 

 

 

 

 

 

 

 

Mining

<0.8>

<3.8>

0.2

<2.4>

2.5

 

Oil & Gas

12.7

2.1

0.5

<1.7>

-

 

Other Mining

-

-

-

-

-

 

Industry Non-performing Loans ( MYR Million )

36.0

44.2

49.7

46.5

-

 

% of Industry Non-performing Loans

0.1

0.1

0.1

0.1

-

 

 

 

 

 

 

 

 

Manufacturing #

1.3

<9.4>

11.4

5.6

4.5

 

Exported-oriented Industries

2.7

<19.0>

12.1

2.8

-

 

Electrical & Electronics

2.4

<30.3>

28.4

<4.9>

-

 

Rubber Products

4.2

<10.1>

25.3

15.4

-

 

Wood Products

<6.0>

<24.1>

20.1

<7.3>

-

 

Textiles & Apparel

1.9

<19.5>

<0.4>

14.8

-

 

Domestic-oriented Industries

9.9

<9.8>

16.3

6.3

-

 

Food, Beverages & Tobacco

9.5

0.2

3.0

4.2

-

 

Chemical & Chemical Products

1.4

<7.7>

16.2

5.6

-

 

Plastic Products

6.5

<9.1>

2.4

3.8

-

 

Iron & Steel

16.8

<32.7>

29.3

2.4

-

 

Fabricated Metal Products

14.7

<2.5>

14.9

25.2

-

 

Non-metallic Mineral

8.3

<15.5>

20.2

16.3

-

 

Transport Equipment

27.1

<13.5>

36.5

<9.4>

-

 

Paper & Paper Products

8.6

<5.0>

18.7

15.6

-

 

Crude Oil Refineries

7.8

0.2

<11.4>

9.3

-

 

Industry Non-Performing Loans ( MYR Million )

5,729.4

6,007.3

6,217.5

6,537.2

-

 

% of Industry Non-Performing Loans

16.8

18.3

23.8

25.7

-

 

 

 

 

 

 

 

 

Construction

2.1

5.8

5.1

4.4

7.0

 

Industry Non-Performing Loans ( MYR Million )

4,149.8

3,241.8

4,038.5

3,856.9

-

 

% of Industry Non-Performing Loans

12.2

9.9

10.7

10.2

-

 

 

 

 

 

 

 

 

Services

7.3

2.6

6.5

6.4

6.5

 

Electric, Gas & Water

5.0

0.4

8.5

5.6

4.8

 

Transport, Storage & Communication

7.8

1.6

7.7

6.5

7.3

 

Wholesale, Retail, Hotel & Restaurant

10.0

2.8

4.7

5.2

6.9

 

Finance, Insurance & Real Estate

9.2

3.8

6.1

6.3

6.5

 

Government Services

8.6

2.0

6.7

7.6

5.6

 

Other Services

5.9

4.4

4.2

5.4

5.7

 

Industry Non-Performing Loans ( MYR Million )

8,281.4

6,631.3

7,384.6

6,825.2

-

 

% of Industry Non-Performing Loans

24.3

20.2

25.7

23.4

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Estimate / Preliminary

 

 

 

 

 

 

** Forecast

 

 

 

 

 

 

# Based On Manufacturing Production Index 
(Source : Department of Statistics / Economic Report / Bank Negara Report)

 

 

 

 

 

 

 

 


INDUSTRY ANALYSIS

 

MSIC CODE

3610 : Manufacture of furniture

 

 

INDUSTRY :

FURNITURE & FIXTURES

 

 

 


MALAYSIA's 2011 furniture exports are likely to improve by 9% to RM8.7 billion, provided the US dollar stabilises at the current level and manufacturers are able to secure enough foreign workers at their factories. 


According to the Malaysian Furniture Industry Council (MFIC), the government's policy to reduce the country's dependency on foreign workers is having an adverse impact on furniture production and exports. Furniture export earnings will decline if there have not enough foreign workers to work on the orders. Many small and medium enterprises will face shutdown prospects.


Under the the National Timber Industry Policy (MTIP), the government has targeted RM16 billion furniture exports by 2020.


There was growing demand for Malaysian-made furniture from the US and Australia, especially now as American consumer spending is showing signs of recovery and Australians need to refurbish their homes after the big flood. Traditional markets like the US and Europe tend to favour Malaysia over low-cost producers like China and Vietnam due to better quality control and reliable after-sales services.


Singapore and Thailand are enjoying zero tariff on upholstery and wooden furniture when it is shipped into Australia and New Zealand. Malaysia, however, is not. These may affect the furniture industry. Malaysian furniture exporters sell in US dollar. When the ringgit strengthens, their exports become more expensive. This leads to a fall in demand. In the last 12 months, the ringgit has been strengthening against the dollar. The profit margins in the furniture export industry are between 3 and 15 per cent and the order process takes an average of two months.


Malaysia stands as the world's 10th largest exporter of furniture by sales volume. The industry's main export markets are the United States, Japan, Europe, Australia and the Middle East. The local furniture industry will continue to be a major revenue earner for the country.


The Malaysian producers and exporters must rebrand themselves to move up the value chain, to achieve higher levels of performance and competitiveness and progress from being OEM production towards own design manufacturing and original brand manufacturing. The Plantation Industries and Commodities Ministry and the Malaysian Timber Industry Board has drawn up strategies through the National Timber Industry Policy towards this direction. The small- and medium-sized enterprises to penetrate countries in the Middle East, East Asia, Southeast Asia and Africa as an avenue to improve international trade performance.

 

 

OVERALL INDUSTRY OUTLOOK : Marginal Growth



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2002, the SC is an Exempt Private company, focusing on manufacturing of furniture and furniture parts. Having been in the industry for a decade, the SC has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. The SC is considered as a medium size company with issued and paid up capital standing at MYR 650,000. However, with a weak shareholders' backing, the SC's capital position is weak. Inadequate capital may be a constraint to the SC as it limits its ability to expand its business in future. 


Over the years, the SC has established an extensive clientele base in the market. Besides catering to the local market, the SC has penetrated into other countries. With the contribution of both local and overseas customers, the SC is likely to be exposed to lower commercial risk. Being a moderate size company, the SC has a total workforce of 60 employees in its business operations. Overall, we regard that the SC's management capability is average. 


As the SC is registered as an Exempt Private company, it is not required to file financial statements for public review. As such, we are unable to ascertain its present financial health.


The SC's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials.


The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the SC's future performance is very much depend on its marketing strategies in order to retain its position in the market.


Due to the unavailability of the SC's latest financial information, we recommend credit be proceeded to the SC with guarantee. 



PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

JETEXIM BUSINESS SDN BHD

 

Financial Year End

31/12/2008

Months

12

Consolidated Account

Company

Audited Account

YES

Unqualified Auditor's Report (Clean Opinion)

YES

Financial Type

SUMMARY

Currency

MYR

 

 

TURNOVER

16,919,307

 

----------------

Total Turnover

16,919,307

 

----------------

 

 

PROFIT/(LOSS) FROM OPERATIONS

403,502

 

----------------

PROFIT/(LOSS) BEFORE TAXATION

403,502

Taxation

<80,091>

 

----------------

PROFIT/(LOSS) AFTER TAXATION

323,411

 

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

As previously reported

559,207

 

----------------

As restated

559,207

 

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

882,618

 

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

882,618

 

=============

 

 

 

BALANCE SHEET

 

JETEXIM BUSINESS SDN BHD

 

ASSETS EMPLOYED:

 

FIXED ASSETS

928,495

 

 

 

----------------

TOTAL LONG TERM ASSETS

928,495

 

 

CURRENT ASSETS

 

TOTAL CURRENT ASSETS

2,160,657

 

----------------

TOTAL ASSET

3,089,152

 

=============

 

 

CURRENT LIABILITIES

 

TOTAL CURRENT LIABILITIES

1,704,181

 

----------------

NET CURRENT ASSETS/(LIABILITIES)

456,476

 

----------------

TOTAL NET ASSETS

1,384,971

 

=============

 

 

SHARE CAPITAL

 

Ordinary share capital

400,000

 

----------------

TOTAL SHARE CAPITAL

400,000

 

 

RESERVES

 

Retained profit/(loss) carried forward

882,618

Others

400,000

 

----------------

TOTAL RESERVES

1,282,618

 

 

 

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,682,618

 

 

LONG TERM LIABILITIES

 

TOTAL LONG TERM LIABILITIES

102,353

 

----------------

 

1,384,971

 

=============

 

 

 

FINANCIAL RATIO

 

JETEXIM BUSINESS SDN BHD

 

TYPES OF FUNDS

 

Net Liquid Assets

456,476

Net Current Assets/(Liabilities)

456,476

Net Tangible Assets

1,384,971

Net Monetary Assets

354,123

 

 

BALANCE SHEET ITEMS

 

Total Liabilities

1,806,534

Total Assets

3,089,152

Net Assets

1,384,971

Net Assets Backing

1,282,618

Shareholders' Funds

1,682,618

Total Share Capital

400,000

Total Reserves

1,282,618

 

 

LIQUIDITY (Times)

 

Current Ratio

1.27

 

 

SOLVENCY RATIOS (Times)

 

Liabilities Ratio

1.07

Assets Backing Ratio

2.13

 

 

PERFORMANCE RATIO (%)

 

Operating Profit Margin

2.38

Net Profit Margin

1.91

Return On Net Assets

29.13

Return On Capital Employed

22.61

Return On Shareholders' Funds/Equity

19.22

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.

UK Pound

1

Rs.

Euro

1

Rs.

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.