|
Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KAR TIMUR STAINLESS STEEL & COPPER SDN
BHD |
|
|
|
|
Registered Office : |
36, Jalan Peh Kee Koh Taman Kampar Ipoh Perak Darul Ridzuan 31650 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
18.06.1983 |
|
|
|
|
Com. Reg. No.: |
102923-W |
|
|
|
|
Legal Form : |
Private Company Limited By Shares |
|
|
|
|
Line of Business : |
Sales and distribution of stainless steel tubes, pipes and sheets. |
|
|
|
|
No. of Employees : |
17 employees |
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 190,000 |
|
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 30, 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 : KAR TIMUR STAINLESS STEEL & COPPER SDN BHD
Business address : 36, Jalan Peh Kee Koh
Taman Kampar
Town : Ipoh
Province : Perak Darul Ridzuan
Zip/postal code : 31650
Country : Malaysia
Tel : +60 5 2530842
Fax : +60 5 2532652
Registered address : C/o CORPORATENET SDN. BHD.
51-21A, Menara BHL Bank
Jalan Sultan Ahmad Shah
Town : Georgetown
Province : Pulau Pinang
Zip/postal code : 10050
Country : Malaysia
Executive Summary
Date founded or registered : 18/06/1983
Legal form : Private Company Limited By Shares
Chief executive : Tan Kar Pin
Issued & paid up capital : MYR 500,000
Sales turnover : MYR 15,855,463 (Non-consolidated 12 months, 31/12/2006)
Net income : MYR 1,396,436 (Non-consolidated 12 months, 31/12/2006)
Total fixed assets : MYR 10,320,435 (Non-consolidated 12 months, 31/12/2006)
Line of business : Sales and distribution of stainless steel tubes, pipes and sheets.
Staff employed : 17 employees
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 fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 190,000
Credit amount asked : Not described.
Registry Data
Registration date : 18/06/1983
Legal form : Private Company Limited By Shares
Registration no 102923-W
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Tan Kar Pin
Designation : Managing Director
Name : Tan Gaik Ten
Designation : Director
Appointments
Name : Tan Kar Pin
Designation : Director
Identification no : 451111-07-5287
Appointment date : 18/06/83
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam Pulau Pinang Malaysia
Name : Ng Soon Eng
Designation : Director
Identification no : 490114-07-5006
Appointment date : 18/06/83
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam Pulau Pinang Malaysia
Name : Tan Boon Peng
Designation : Director
Identification no : 710908-07-5691
Appointment date : 01/06/10
Address : 17, Lorong Tambun Indah 8
Taman Tambun Indah
14100 Simpang Ampat
Pulau Pinang
Malaysia
Name : Tan Choo Yin
Designation : Director
Identification no : 721017-07-5819
Appointment date : 01/06/10
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam
Pulau Pinang
Malaysia
Name : Tan Siew Kong
Designation : Director
Identification no : 740819-07-5435
Appointment date : 01/06/10
Address : 2046, Taman Bahagia Fasa 3
Lorong Inai, Jalan Kota Tanah
05050 Alor Setar Kedah Darul Aman Malaysia
Name : Tan Hong See
Designation : Director
Identification no : 761216-07-5324
Appointment date : 01/06/10
Address : No. 10, Jalan Bendahara 14/7
Bandar Mahkota Cheras, Seksyen 7
43200 Cheras Selangor Darul Ehsan Malaysia
Name : Tan Gaik Ten
Designation : Director I
dentification no : 800130-07-5410
Appointment date : 01/06/10
Address : No. 9, Hala Pinji Jaya 2
Taman Pinji Jaya
31650 Ipoh
Perak Darul Ridzuan
Malaysia
Name : Tan Ruenn Fong
Designation : Director
Identification no : 870116-35-5049
Appointment date : 01/06/10
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam Pulau Pinang Malaysia
Name : Lee Peng Loon
Designation : Company Secretary
Identification no : 501110-07-5149
Appointment date : 01/06/06
Address : 53 Jalan Deva Pada
10400 Georgetown Pulau Pinang Malaysia
Name : P'Ng Chiew Keem
Designation : Company Secretary
Identification no : 720225-07-5130
Appointment date : 01/06/06
Address : 19 Tingkat Bukit Kecil 2
Taman Sri Nibong
11900 Bayan Lepas Pulau Pinang Malaysia
Staff employed : 17 employees
Key Advisors
Auditors : ALBERT KHOO & CO.
No. 9, Ground Floor
Jalan Lau Ek Ching
30300 Ipoh
Perak Darul Ridzuan
Malaysia
Composition
Authorized Capital : MYR 500,000
No of shares : 500,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 500,000
Paid up capital : MYR 500,000
How listed : Full List
Composition
Shareholder name : Tan Kar Pin
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam Pulau Pinang Malaysia
No. of shares : 495,149 Ordinary Shares
Shareholder name : Ng Soon Eng
Address : No. 1, Lintang Paya Terubong 4
11060 Ayer Itam Pulau Pinang Malaysia
No. of shares : 4,851 Ordinary Shares
Structure
Name : TAN TIMUR STAINLESS STEEL DAN COPPER
SDN BHD
Affiliation type : Associate
Address : Plot 397, Lorong Perusahaan 8
Prai Industrial Estate
13600 Prai Pulau Pinang Malaysia
Name : UNITED CENTRAL ALUMINIUM SUPPLIES SDN.
BHD.
Affiliation type : Associate
Address : 2520, Lorong Perusahaan 8C Prai
Industrial Estate
13600 Prai
Pulau Pinang
Malaysia
Name : ALUMTAN UNION METAL SDN. BHD.
Affiliation type : Associate
Address : 2520, Lorong Perusahaan 8C Prai
Industrial Estate
13600 Prai Pulau
Pinang Malaysia
Bank Details
Name of bank : CIMB Bank Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Malayan Banking Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Eon 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: 160,000.00
Date of Creation: 06-09-1990
Name of Chargee: UNITED MALAYAN BANKING CORPORATION BHD Charge Status: FULLY SATISFIED
Total of Charge: 40,000.00
Date of Creation: 06-09-1990
Name of Chargee: UNITED MALAYAN BANKING BHD Charge Status: FULLY SATISFIED
Total of Charge: 30,000.00
Date of Creation: 01-07-1992
Name of Chargee: PUBLIC BANK BHD Charge Status: FULLY SATISFIED
Total of Charge: 115,000.00
Date of Creation: 01-07-1992
Name of Chargee: PUBLIC BANK BHD Charge Status: FULLY SATISFIED
Total of Charge: 115,000.00
Date of Creation: 01-07-1992
Name of Chargee: PUBLIC BANK BHD Charge Status: CANCELLATION
Total of Charge: 400,000.00
Date of Creation: 15-03-1995
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD Charge Status: FULLY SATISFIED
Total of Charge: 865,000.00
Date of Creation: 04-04-1996
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD Charge Status: FULLY SATISFIED
Total of Charge: 465,000.00
Date of Creation: 04-04-1996
Name of Chargee: UNITED OVERSEAS BANK MALAYSIA BHD Charge Status: FULLY SATISFIED
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 : 31/12/06
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate :
1 USD = MYR 3.03 as of 07-03-2012
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 : |
31/12/06 |
31/12/05 |
|
Length of
accounts : |
12 months |
7 months |
|
Sale turnover /
Income : |
15,855,463 |
7,638,707 |
|
Gross profit : |
2,588,174 |
1,091,134 |
|
Profit before
tax : |
1,888,985 |
579,903 |
|
Net income : |
1,396,436 |
420,453 |
|
Non current
assets : |
583,874 |
538,241 |
|
Current assets : |
9,736,561 |
8,737,607 |
|
Inventories : |
2,955,285 |
5,409,247 |
|
Total assets : |
10,320,435 |
9,275,848 |
|
Current
liabilities : |
4,259,061 |
4,652,041 |
|
Non current
liabilities : |
57,443 |
16,312 |
Total liabilities : 4,316,504 4,668,353
Share equity : 6,003,931 4,607,495
Reserve : 5,503,931 4,107,495
Comments : The Subject has been exempted from revealing their financials since 2007. In
2010, the Subject filed for the certificate of exemption private company and their accountants state that all liabilities are in good manner. We have contacted Ms. Michelle to request the Subject’s latest financial information however she advised that this requires approval from the management. We have sent her an official email and if we do receive this information we will provide an updated report.
For financial year end 31-12-2005, financial information is from 1 June to 31
December as the Subject changed its financial reporting date to December this year.
Main activities : The Subject is engaged in sales and distribution of stainless steel tubes, pipes and sheets.
Purchases
International : India, Thailand, Taiwan, South Korea, Vietnam
Sales
Local : Yes
International : No exports.
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of administrative office and storage facilities.
Branches : None reported.
Gross Domestic Products (GDP) & Economic Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$ 134.08 billion as of 31 January 2012
Gross domestic product - GDP : US$ 247.781 billion
GPP (Purchasing power parity) : US$ 442.01 billion of International dollars
GDP per capita - current prices : US$ 8,624
GDP - composition by sector : agriculture: 10.2% industry: 42.1% services: 47.8%
Inflation : 2008: 5.4%
2009: 0.6%
2010: 1.7%
2011: 2.8%
Unemployment rate : 2008: 3.3%
2009: 3.6%
2010: 3.3%
2011: 3.2%
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 Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(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 : 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 : Malaysia Ringgits (MYR)
Internet users as % of total population: 55.3%
Purchase Term
International : L/C, Telegraphic transfer, Document against payment, Credit up to 90 days
Sales Term
Local : Prepayment, Bank transfer, Document against payment, 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.50.57 |
|
|
1 |
Rs.79.57 |
|
Euro |
1 |
Rs.66.49 |
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.