MIRA INFORM REPORT
|
Report Date : |
05.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SEGAMAT PANEL BOARDS SDN. BHD. |
|
|
|
|
Formerly Known As : |
IMMEDIATE EXPANSION SDN. BHD |
|
|
|
|
Registered Office : |
C/O Symphony Corporatehouse Sdn Bhd Suite 6-1a, Level 6, Menara Pelangi, Jalan Kuning, Taman Pelangi, Johor Bahru , Johor Darul Takzim , Zip/Postal Code 80400 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
09.08.2001 |
|
|
|
|
Com. Reg. No.: |
555843-X |
|
|
|
|
Legal Form : |
Private Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacturer of wood based thin panels (MDF and Particleboard) |
|
|
|
|
No. of Employees : |
200 employees |
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 |
|
Maximum Credit Limit : |
USD 1,200,000 |
|
|
|
|
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 – 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 |
Verified Address
Subject name : SEGAMAT PANEL BOARDS SDN. BHD.
Business address : Plot 201, Kawasan Perindustrian
Segamat II Kawasan Perindustrian Segamat II
Mukim Pagoh
Town : Segamat
Province : Johor Darul Takzim
Zip/postal code : 85000
Country : Malaysia
Tel : +60 7 9279989
Fax : +60 7 9279969
Email : inquiries@spb.com.my
Website : www.spb.com.my
Registered address : C/o SYMPHONY CORPORATEHOUSE SDN BHD Suite 6-1A, Level 6, Menara
Pelangi
Jalan Kuning, Taman Pelangi
Town : Johor Bahru
Province : Johor Darul Takzim
Zip/postal code : 80400
Country : Malaysia
Executive Summary
Date founded or registered : 09/08/2001
Legal form : Private Company Limited By Shares
Chief executive : Hans Peter Fitch
Issued & paid up capital : MYR 2,500,000
Sales turnover : MYR 62,764,673 (Non-Consolidated 12 months, 30/06/2011)
Net income : MYR 1,858,787 (Non-Consolidated 12 months, 30/06/2011)
Total fixed assets : MYR 125,332,010 (Non-Consolidated 12 months, 30/06/2011)
Line of business : Manufacturer of wood based thin panels (MDF and Particleboard).
Staff employed : 200 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is leveling off
Management experience : Management is adequately 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 1,200,000
Credit amount asked : Not described.
Registry Data
Registration date : 09/08/2001
Legal form : Private Company Limited By Shares
Registration no 555843-X
Registered authority : Companies Commission of
Registry status : Live/Active
Previous name : The Subject was established under the
name IMMEDIATE
EXPANSION
SDN. BHD. and changed to the current style on 31-07-
2002.
Change of legal form : None reported.
Key Management
Name : Hans Peter Fitch
Designation : Managing Director
Name : Sue Lim Siew Eng
Designation : General Manager for Administration & Sales
Name : Koichi Saito
Designation : Production Manager
Appointments
Name : Hans Peter Fitch
Designation : Director
Identification no : 761241657
Appointment date : 18/09/02
Address : No. 41, Jalan Pelangi Pagi
Country Heights
43000 Kajang Selangor Darul Ehsan Malaysia
Biography : Mr.
Peter Fitch, originally from the
Mr. Fitch has
over 15 years experience in the wood based panel business and an additional 12
years experience in the Manufacturing, Engineering and Project related
business. He has worked for such prestigious international companies as
Unilever, HJ Heinz and the London International Group.
Some of his
more recent appointments have been as Manufacturing Manager for LRC (M) Sdn
Bhd, Operations Manager for Takeuchi MDF, and Project Director for PTP (
Name : Shigetoyo Takeuchi
Designation : Director
Identification no : MZ0549633
Appointment date : 18/09/02
Address : 87, Cashew Road
#06-03 Cashew Heights
Singapore 679658, Singapore
Name : Koichi Saito
Designation : Director
Identification no : TZ0460782(P)
Appointment date : 15/09/05
Address : No.
50, Jalan Mutiara Emas
Taman
81100 Johor
Bahru Johor Darul Takzim
Biography : Mr.
Saito Koichi, originally from
Mr. Saito has
over 26 years experience in the wood based business, manufacturing, Engineering
and related industries such as 6 years Particleboard Production / QC Operator
in Hitech Wood Japan; 3 years Sawmill Engineer and Factory Manager in Olympic
Wood Product USA; 6 years Production Manager in Takeuchi MDF and another 6
years as Production / Factory Manager in Matak Furniture in Malaysia.
Name : Leong Siew Foong
Designation : Company Secretary
Identification no : 671205-10-5330
Appointment date : 30/08/06
Address : No. 3, Jalan Bayam
Taman Kota Besar
81900 Kota Tinggi Johor Darul Takzim Malaysia
Name : Shahniza Anom Binti Elias
Designation : Company Secretary
Identification no : 680929-01-5802
Appointment date : 16/09/05
Address : No. 63, Jalan Tembaga Merah 9
Taman Sri Skudai
81300 Johor Bahru Johor Darul Takzim Malaysia
Staff employed : 200 employees
Key Advisors
Auditors BDO
12th Floor, Menara Uni.Asia
1008, Jalan Sultan Ismail
50250
Composition
Authorized Capital : MYR 5,000,000
No of shares : 5,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 2,500,000
Paid up capital : MYR 2,500,000
Changed in capital : The Subject increased its share capital from MYR 100,000 to MYR
5,000,000 on 03-07-2002.
How listed : Full List
Composition
Shareholder name : KAZO TRADING PTE. LTD.
Address : Manhattan House #13-01
151 Chin Swee Road
Singapore 169876
Singapore
No. of shares : 2,500,000 Ordinary Shares
% of shares : 100%
Structure
Name : KAZO TRADING PTE LTD
Affiliation type : Parent
Company
Address :
Manhattan House #13-01
151 Chin Swee Road
Singapore 169876
Singapore
Comments :
Importers, exporters and dealers in
wood, medium density fibreboard and plywood.
Name : U. C. GRAVURE SDN. BHD.
Affiliation type : Sister
Company
Address :
Plot 201, Kawasan Perindustrian Segamat
II,
Mukim Pogoh
85000 Segamat Johor Darul Takzim Malaysia
Bank Details
Name of bank : Ambank (M) 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: 8,000,000.00
Date of Creation: 28-03-2011
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.
Description
Source of financial statement : Commercial
Registry Filings
Financial statement date : 30/06/11
Type of accounts : Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.00 as of 03-03-2012
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 : |
30/06/11 |
30/06/10 |
|
Length
of accounts : |
12 months |
12 months |
|
|
62,764,673 |
62,134,961 |
|
Profit before
tax : |
1,798,257 |
1,941,653 |
|
Net income : |
1,858,787 |
3,080,805 |
|
Non current
assets : |
111,720,879 |
100,406,091 |
|
Current assets : |
13,611,131 |
16,378,848 |
|
Total assets : |
125,332,010 |
116,784,939 |
|
Current
liabilities : |
72,009,526 |
16,882,000 |
|
Non current
liabilities : |
6,963,929 |
55,497,364 |
|
Total
liabilities : |
78,973,455 |
72,379,364 |
|
Share equity : |
46,358,555 |
44,405,575 |
|
Retained earning : |
43,858,555 |
41,905,575 |
Main activities : The Subject is engaged in manufacturing
of wood based thin panels such as Medium Density Fibreboard (MDF) and
Particleboard.
The Subject was
established in August 2001 and its major shareholder is Mr. Shigetoyo Takeuchi.
He is the son of Mr. Hikozo Takeuchi the founder of Takeuchi MDF and the
co-founder of Merbok MDF.
The Subject's
factory is located at Segamat in the state of Johor and production started
since 2nd April 2003.
Product & services : Thin Panel Medium Density Fibreboard (MDF)
Thin Panel Particleboard
Thick Panel Particleboard
Thin Paper Overlay Medium Density Fibreboard (MDF)
Purchases
Local : Yes
International : Japan, China
Sales
Local : Yes
International : Japan, Singapore, United Arab Emirates,
Philippines, India
Property & Assets
Premises : The Subject operates from headquarters
located at the verified heading address consisting of production facilities,
warehouse and administrative office.
Branches :
None reported.
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%
Purchase Term
International : L/C, Prepayment, Telegraphic transfer, Credit
30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Telegraphic 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.35 |
|
UK Pound |
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
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.