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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HAARSLEV
INDUSTRIES SDN. BHD. |
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Registered Office : |
No. 1-1B (Room 2) Jalan Pandan Indah 4/34 Pandan Indah Kuala Lumpur Wilayah Persekutuan 55100 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.07.2010 |
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Com. Reg. No.: |
909601-M |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Providing consultation, maintenance and engineering services on poultry processing equipments |
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No. of Employees : |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : HAARSLEV INDUSTRIES
SDN. BHD.
Business address :
2A, Jalan Anggerik
Vanilla W31/W
Kota Kemuning
Town : Shah
Alam
Province : Selangor Darul
Ehsan
Zip/postal code : 40460
Country : Malaysia
Tel : +60 3
51223763
Fax : +60 3
51229763
Website : www.haarslev.com
Registered address
: No. 1-1B (Room 2)
Jalan Pandan Indah 4/34
Pandan Indah
Town : Kuala
Lumpur
Province : Wilayah
Persekutuan
Zip/postal code : 55100
Country : Malaysia
Executive Summary
Date founded or
registered : 28/07/2010
Legal form : Private Company
Limited By Shares
Chief executive : Chang Lip Ngin
Issued & paid
up capital : MYR 2
Sales turnover : MYR 1,470,176.69 (Non-consolidated
17 months, 31/12/2011)
Net income : MYR -1,116,487.25
(Non-consolidated 17 months, 31/12/2011)
Total fixed assets
: MYR 3,290,943.51
(Non-consolidated 17 months, 31/12/2011)
Line of business :
Providing
consultation, maintenance and engineering services on poultry
processing equipments.
Staff employed : 15 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is in
start-up phase
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is poor
Organisation
structure : Organisational
structure is flawed
Detrimental
records : Some
detrimental records found
Payment history : No payment delays noted
Credit amount
suggestion : Fully secured terms.
Credit amount
asked : Not described.
Comments : It is strictly advisable
to conduct business dealing on prepayment or L/C basis
due to the Subject's deficit in share equity.
Registry Data
Registration date
: 28/07/2010
Legal form : Private Company
Limited By Shares
Registration no 909601-M
Registered
authority : Companies
Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Chang Lip Ngin
Designation : Managing Director
Appointments
Name : Chang Lip Ngin
Designation : Director
Identification no
: 671129-01-6263
Appointment date :
28/07/10
Address : 16, Jalan Anggerik Vanda
Dua 31/168B
Kota Kemuning Hills
40460 Shah Alam
Selangor Darul Ehsan
Malaysia
Name : Han Shia Chin
Designation : Director
Identification no
: 771124-14-5144
Appointment date :
28/07/10
Address : No. 9, Jalan 4/105
Taman Midah, Cheras
56000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Yoong Yuit Yuen
Designation : Company Secretary
Identification no
: 521026-08-5270
Appointment date :
31/12/10
Address : 22, Lorong SS 23/10B
Taman Sea
47400 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : Yee Kok Wah
Designation : Company Secretary
Identification no
: 670604-10-5907
Appointment date :
31/12/10
Address : 18, Jalan BJ 14
Taman Balakong Jaya
43300 Cheras
Selangor Darul Ehsan
Malaysia
Staff employed : 15 employees
Key Advisors
Auditors : KW LOH & ASSOCIATES
1-1B, Jalan Pandan Indah 4/34
Pandan Indah
55100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Composition
Authorized Capital
: MYR 100,000
No of shares : 100,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 2
Paid up capital : MYR 2
How listed : Full
List
Composition
Shareholder name :
Han Shia Chin
Address : No. 9, Jalan 4/105
Taman Midah, Cheras
56000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 1 Ordinary Share
% of shares : 50%
Shareholder name :
Chang Lip Ngin
Address : 16, Jalan Anggerik Vanda
Dua 31/168B
Kota Kemuning Hills
40460 Shah Alam
Selangor Darul Ehsan
Malaysia
No. of shares : 1 Ordinary Share
% of shares : 50%
Structure
Related companies
and corporate
affiliations
comments: None reported.
Bank Details
Name of bank : Malayan Banking Berhad (Maybank)
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 : 31/12/11
Type of accounts :
Full audited
Currency : Malaysia,
Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.18 as of
24-07-2012
Summarized Financial Information
Consolidation type
: Non Consolidated
Currency : Malaysia,
Ringgit (MYR)
Denomination : (x1) One
Date of financial
year end : 31/12/11
Length of accounts
: 17 months
Sale turnover /
Income : 1,470,176.69
Profit before tax
: -1,106,571.11
Net income : -1,116,487.25
Non current assets
: 362,313.80
Current assets : 2,928,629.71
Total assets : 3,290,943.51
Current
liabilities : 4,502,322.23
Non current
liabilities : 170,315.11
Total liabilities
: 4,672,637.34
Share equity : -1,381,693.83
Retained earning : -1,381,695.83
Comments : Comparative
financial information is not available due to the Subject's recent date of
establishment.
Main activities : The Subject provides consultation,
maintenance and engineering services
on poultry processing equipments.
The Subject also distributes solutions and equipments for the processing
of
by-products from cattle, poultry and fish.
In addition, the Subject distributes solutions and equipment for the raw
material handling and preparation of the protein ingredients for the pet
food
sector.
Product &
services : - Consultation,
maintenance and engineering services on cattle, poultry
and fish by-products processing equipments
- Cattle, poultry and fish by-products processing equipments
- Pet food raw material processing equipments
Purchases
International : Europe, Asia
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from
premises located at the verified heading
address consisting of an administrative office and warehouse.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central
Bank of Malaysia
Reserve of foreign
exchange & gold : US$
136.0 billion as of 15 June 2012
Gross domestic
product - GDP : US$
305.826 billion
GPP (Purchasing
power parity) : 472.942
billion of International dollars
GDP per capita -
current prices : US$
10,467
GDP - composition
by sector : agriculture:
10.2%
industry: 42.1%
services: 47.8%
Inflation : 2009:
0.6%
2010: 1.7%
2011: 3.2%
Unemployment rate
: 2009:
55.4%
2010: 52.9%
2011: 52.6%
Public debt
(General
Government gross debt as
a % GDP): 2009:
3.7%
2010: 3.4%
2011: 3.2%
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$255.952
billion
Largest companies in the country : Maybank
(Major Banks), CIMB Group Holdings (Regional Banks), Tenaga Nasional (Electric
Utilities), Public Bank (Regional Banks), Genting (Casinos & Gaming)
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 :
2008: US$7,172 million
2009: US$1,430 million
2010: US$9,103 million
FDI Outflows : 2008:
US$14,965 million
2009: US$7,930 million
2010: US$13,329 million
Best countries for
doing business : 21
out of 183 countries
Global
competitiveness ranking : 21
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
28.23
million
Total area : 329,847
km2
Capital : Kuala
Lumpur
Currency : Ringgits
(MYR)
Internet users as
% of total
population: 55.3%
Purchase Term
International :
Prepayment, D/P, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, D/P, Bank transfer, Credit 30-90 days
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track
record history cannot be appropriately determined but based
on our research,
payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by
the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.37 |
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|
1 |
Rs.87.44 |
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Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 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.