|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
KAMDAR SDN. BERHAD |
|
|
|
|
Registered Office : |
Suite 1603, 16th
Floor Wisma Lim Foo Yong No. 86, Jalan Raja Chulan Kuala Lumpur Wilayah
Persekutuan 50200 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
14.06.1972 |
|
|
|
|
Com. Reg. No.: |
12300-T |
|
|
|
|
Legal Form : |
Private Limited
Company Limited By Shares |
|
|
|
|
Line of Business : |
Retail of
textile and textile-based products. |
|
|
|
|
No. of Employees : |
1,500 employees
(Kamdar Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – 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 |
Verified Address
Subject name : KAMDAR SDN. BERHAD
Business address :
113 Jalan Tuanku Abdul
Rahman
Town : Kuala
Lumpur
Province : Wilayah
Persekutuan
Zip/postal code : 50100
Country : Malaysia
Tel : +60 3
26938988
Fax : +60 3
26988400
Email : enquiries@kamdar.com.my
Website : www.kamdar.com.my
Registered address
: Suite 1603, 16th Floor
Wisma Lim Foo Yong
No. 86, Jalan Raja Chulan
Town : Kuala
Lumpur
Province : Wilayah
Persekutuan
Zip/postal code : 50200
Country : Malaysia
Executive Summary
Date founded or
registered : 14/06/1972
Legal form : Private Limited
Company Limited By Shares
Chief executive : Kamal Kumar Kishorchandra
Kamdar
Issued & paid
up capital : MYR 8,800,000
Sales turnover : MYR 163,635,527
(Non-consolidated 12 months, 31/12/2010)
Net income : MYR 6,596,118
(Non-consolidated 12 months, 31/12/2010)
Total fixed assets
: MYR 125,474,472
(Non-consolidated 12 months, 31/12/2010)
Line of business :
Retail of textile and
textile-based products.
Staff employed : 1,500 employees (Kamdar Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date
: 14/06/1972
Legal form : Private Limited Company
Limited By Shares
Registration no 12300-T
Registered
authority : Companies Commission of
Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Kamal Kumar
Kishorchandra Kamdar
Designation : Managing Director
Appointments
Name : Rajnikant A/L B.M.
Kamdar
Designation : Director
Identification no
: 481225-08-5093
Appointment date :
31/03/93
Address : A-6-3, La Grande Condo
Mont Kiara, Jalan Duta
Bukit Kiara
50480 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Hamendra A/L B.M.
Kamdar
Designation : Director
Identification no
: 520819-08-5073
Address : 28-35-A, Gurney Beach
Resort
Persiaran Gurney
10250 Georgetown
Pulau Pinang
Malaysia
Biography : Mr. Hamendra, a Malaysian,
aged 59, has over 40 years experience
in the textile and textile-related industries. After completing his
Senior
Cambridge in 1970, he joined Kesar as a Sales Executive in 1972
and in 1976 became a director of Kesar. He is currently responsible
for the export and wholesale
operations of KGMB, and the distribution of merchandise within the
KGMB Group.
Name : Bipinchandra A/L
Balvantrai
Designation : Director
Identification no
: 590216-08-5203
Appointment date :
10/01/84
Address : Lot 1, Changkat Suria 1
The Residence, Mont Kiara
No. 16, Jalan Kiara 2
50480 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Biography : Mr. Bipinchandra, a
Malaysian, aged 53, has over 35 years
experience in the textile and textile-related industries. After
completing his General Certificate in Education Ordinary Level in
1976, he joined Globe Textiles Sdn Bhd as a Sales Executive in
1977. He joined Kamdar Sdn. Bhd. (“KSB”) in 1980 and became a
director in 1994. He is currently responsible for the Group’s
procurement and sourcing of
merchandise, locally as well as internationally.
Name : Kamal Kumar Kishorchandra
Kamdar
Designation : Director
Identification no
: 700510-71-6031
Appointment date :
26/05/11
Address : No. 2, Lorong Cenderai
Taman Lucky, Bangsar Baru
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Biography : Mr. Kamal Kumar, a Malaysian,
aged 42. He graduated with an LLB
(Hons) degree from Leicester University, and completed the Barrister
at Law at Middle Temple, United Kingdom.
Name : Tai Keat Chai
Designation : Company Secretary
Identification no
: 540730-08-5841
Appointment date :
07/05/03
Address : 17, Jalan SS 20/22
47400 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : Lim Hooi Chin
Designation : Company Secretary
Identification no
: 700416-07-5290
Appointment date :
02/07/01
Address : C3-14,Block C
Jalan Maju 2/1
Taman Lembah Maju
56100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Staff employed : 1,500 employees (Kamdar Group)
Key Advisors
Auditors : SJ GRANT THORNTON
Level 11-1,Faber Imperial Court
Jalan Sultan Ismail
50250 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Composition
Authorized Capital
: MYR 10,000,000
No of shares : 10,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 8,800,000
Paid up capital : MYR 8,800,000
How listed : Full
List
Composition
Shareholder name :
KAMDAR GROUP (M) BERHAD
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 8,800,000 Ordinary Shares
% of shares : 100%
Structure
Name : KAMDAR GROUP (M) BERHAD
Affiliation type :
Parent Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Kamdar Group (M) Berhad, an investment
holding company, engages in the
import, export, retail, and wholesale of textile and textile-based
products in
Malaysia and internationally. The company’s retail stores offer textile
and
furnishing fabrics; in-house designed garments for ladies, men, and
children;
Indian clothing; and school uniforms. It operates approximately 30
outlets. The
company also sells its products online at Kamdaronline.com. In addition,
it
operates a warehouse and distribution centre; invests in properties; and
involves
in the letting out of properties, and moveable and immovable assets. The
company is headquartered in Kuala Lumpur, Malaysia.
Name : PUSAT MEMBELI-BELAH
KAMDAR SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Retail of textile and
textile-based products.
Name : KAMDAR HOLDINGS SDN.
BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Letting out of properties.
Name : KAMDAR STORES SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Letting out of properties.
Name : KAMDAR (SOUTH) SDN.
BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Retail of textile and
textile-based products.
Name : KAMDAR (B) SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Dormant.
Name : ORISEA TRADE SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Letting moveable and immovable
assets.
Name : PUSAT MEMBELI-BELAH
KAMDAR (PENANG) SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Retail of textile and
textile-based products.
Name : MINT SAGA (M) SDN.
BHD
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Letting out of properties.
Name : KESAR SDN. BHD.
Affiliation type :
Sister Company
Address : 113 Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Importers, exporters, retailer
and wholesaler of textile and textile-based products.
Related companies
and corporate
affiliations
comments: Other companies of the
Kamdar Group should be considered affiliates of the Subject.
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 : Total of Charge: 1,480,000.00
Date of Creation: 09-04-1982
Name of Chargee: UNITED ASIAN BANK
Charge Status: FULLY SATISFIED
Total of Charge: 800,000.00
Date of Creation: 11-04-1983
Name of Chargee: UNITED ASIAN BANK
Charge Status: FULLY SATISFIED
Total of Charge: 4,500,000.00
Date of Creation: 21-12-1993
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.
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 3.17 as of 16-06-2012
Summarized Financial Information
Consolidation type
: Non Consolidated Non Consolidated Group Consolidated
Currency : Malaysia,
Ringgit (MYR) Malaysia, Ringgit (MYR) Malaysia, Ringgit (MYR)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/12/10 31/12/09 31/12/11
Length of accounts
: 12 months 12 months 12 months
Gross profit : 83,335,554
Profit before tax
: 9,048,747 9,106,163 20,442,835
Net income : 6,596,118 7,010,309 14,295,303
Non current assets
: 12,920,990 12,122,302 152,211,763
Current assets : 112,553,482 105,953,187 145,882,143
Inventories :
108,201,605
Total assets : 125,474,472 118,075,489 298,093,906
Current
liabilities : 52,663,800 44,401,894 64,446,255
Non current
liabilities : 2,183,454 1,722,495 38,220,573
Total liabilities
: 54,847,254 46,124,389 102,666,828
Share equity : 70,627,218 71,951,100 195,427,078
Reserve : -2,562,924
Retained earning :
61,827,218 63,151,100
Comments : The non-consolidated financial
information above relates to the Subject only.
The group’s consolidated financial information above relates to the
Subject’s
Parent / Ultimate Holding Company Kamdar Group (M) Berhad and all its
subsidiaries which include the Subject.
Main activities : The
Subject engages in import, wholesale and retail sales of apparels,
garments and textile products.
The Subject is a wholly owned subsidiary of Kamdar Group (M) Berhad, a
public listed company on Bursa Malaysia Stock Exchange.
Kamdar Group (M) Berhad, is an investment holding company, engages in
the import, export, retail, and wholesale of textile and textile-based
products in Malaysia and internationally. The company’s retail stores
offer
textile and furnishing fabrics; in-house designed garments for ladies,
men,
and children; Indian clothing; and school uniforms. It operates
approximately 30 outlets. The company also sells its products online at
Kamdaronline.com. In addition, it operates a warehouse and distribution
centre; invests in properties; and involves in the letting out of properties,
and moveable and immovable assets. The company is headquartered in
Kuala Lumpur, Malaysia
Product &
services : Textile fabric
Furnishing fabric
In-house designed of ladies, men and children's wear
Apparels
School uniforms
Brand : Kamdar
Purchases
International :
Mainly from India, Thailand, Turkey, Indonesia, China, China
Sales
Local : Yes
International :
Asian countries
Property & Assets
Premises : The Subject operates from premises
located at the verified heading
address consisting of an retail store, warehouse and administrative
office.
Branches : In addition, the Group operates from approximately 30 outlets
across
Malaysia and Brunei.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central
Bank of Malaysia
Reserve of foreign
exchange & gold : US$ 136.1
billion as of 15 May 2012
Gross domestic
product - GDP : US$ 247.781
billion
GPP (Purchasing
power parity) : US$ 442.01
billion of International dollar
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 (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%, 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
International :
L/C, Prepayment, D/P, Telegraphic transfer, Credit 30-120 days
Sales Term
Local :
Prepayment, Cash, Bank transfer, D/P, Credit 30-120 days
International : Prepayment,
Telegraphic transfer, D/P, Credit 30-120 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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.