MIRA INFORM REPORT
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Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
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Name : |
BASF PETRONAS CHEMICALS SDN. BHD. |
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Registered Office : |
Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Kuala Lumpur, Wilayah Persekutuan, Zip/postal code 59200 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.10.1997 |
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Com. Reg. No.: |
451307-K |
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Legal Form : |
Private Limited Company Limited By Shares |
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Line of Business : |
Production and marketing of essential raw materials such as acrylic monomers, oxo products and butanediol products |
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No. of Employees : |
109,600 (BASF Group) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 20,000,000 |
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Status : |
Good |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : BASF PETRONAS CHEMICALS SDN. BHD.
Business address : No. 2, Jalan U8/87, Seksyen U8 Bukit Jelutong
Town : Shah Alam
Province : Selangor Darul Ehsan
Zip/postal code : 40706
Country : Malaysia
Tel : +60 3 78412200
Fax : +60 3 78466624
Email : info.service@basf-petronas.com.my
Website : www.basf-petronas.com.my
Registered address : Level 18, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 59200
Country : Malaysia
Executive Summary
Date founded or registered : 28/10/1997
Legal form : Private Limited Company Limited By Shares
Chief executive : Dr. Joachim Queisser
Issued & paid up capital : MYR 1,000,000,000
Sales turnover : MYR 3,427,887,000 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 1,318,640,000 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 1,675,215,000 (Non-consolidated 12 months, 31/12/2010)
Line of business : Production and marketing of essential raw materials such as acrylic monomers, oxo products and butanediol products
Staff employed : 109,600 (BASF Group)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is booming
Management experience : Management is adequately experienced
Financial performance : Financial performance is very good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 20,000,000
Credit amount asked : Not described.
Comments : Larger credit can still be granted.
Registry Data
Registration date : 28/10/1997
Legal form : Private Limited Company Limited By Shares
Registration no 451307-K
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None Reported.
Change of legal form : None Reported.
Key Management
Name : Dr. Joachim Queisser
Designation : Managing
Director Name : Roslina Ibrahim
Designation : Financial Manager
Appointments
Name : Professor
Dr. Rainer Diercks
Designation : Director
Identification no : 225206719
Appointment date : 24/02/10
Address : Philipp Melanchthon Strabe 21
67346 Speyer
Germany
Name : Dr.
Joachim Queisser
Designation : Director
Identification no : 332604864
Appointment date : 01/08/11
Address : No
5 Seventy Damansara
70
Jalan Damansara
50480 Kuala Lumpur Wilayah Persekutuan Malaysia
Biography : Dr.
Queisser started his career with BASF in 1996 and served several key management
positions with the BASF in
Name : Abd
Hapiz Bin Abdullah
Designation : Director
Identification no : 581007-10-6261
Appointment date : 09/06/11
Address : No 24 Jalan Serunai 2
Taman Klang Jaya
41200 Klang
Selangor Darul Ehsan
Malaysia
Biography : Dr Abd Hapiz bin Abdullah, a
Malaysian aged 53, is an Executive
Director. He
was appointed as the President/Chief Executive Officer of PETRONAS Chemicals
Group Berhad on 1 May 2011. He holds a Doctor of Philosophy in Organic
Chemistry from
Malaysia Sdn
Bhd, Dr Abd Hapiz bin Abdullah held several senior positions from General
Manager to Country Manager for
2007 was as the
Managing Director of DuPont Malaysia Sdn Bhd and Regional Director, Asia
Pacific Glass laminating Solution. He is currently the Chairman of Chemical
Industries Council of Malaysia
and Executive Council member of International Chamber of
Commerce
Dr Abd Hapiz bin Abdullah was appointed to the Board of
PETRONAS Chemicals Group Berhad on 1 May 2011.
Name : Wan
Zulkiflee Bin Wan Ariffin
Designation : Director
Identification no : 600819-07-5545
Appointment date : 13/08/10
Address : No 5
Jalan 14/1
68000 Ampang
Wilayah Persekutuan
Biography : A
Malaysian aged 51, is a Non Independent Non-Executive Director.
He was
appointed as the Chairman of PETRONAS Chemicals Group Berhad on 22 June 2010.
He holds a Bachelor of Engineering Degree in Chemical Engineering from the
University of Adelaide, South Australia. In 2000, he attended the INSEAD Senior
Management Development Program and in 2004, he attended the Advanced Management
Program at
Since joining
PETRONAS in 1983, Datuk Wan Zulkiflee has held various positions within the
PETRONAS Group including serving in the Office of the President as Executive
Assistant to the President, General Manager, International Projects Management
Division of OGP Technical Services and General Manager for the Strategy and
Business Development Unit. He was the Managing Director/Chief Executive Officer
of PETRONAS Gas Berhad from 2003 to 2007 and Vice President of Gas Business
from April 2006 till April 2010.
Datuk Wan Zulkiflee bin Wan Ariffin is currently the
Executive Vice
President,
Downstream Business of PETRONAS and is a member of
PETRONAS Board
of Directors, the Executive Committee, Management Committee and serves on
various Boards of several Joint Ventures and Subsidiary Companies in the
PETRONAS Group. He is the Chairman of PETRONAS Dagangan Berhad and a member of
the Board of Directors for MISC Berhad. He is also the Industry Advisor to the
Engineering Faculty, University Putra
Name : Saori
Ulrike Dubourg
Designation : Director
Identification no : 646750091
Appointment date : 10/11/09
Address :
Queeensway
Name : Linda Christine Danker Designation : Company Secretary Identification no : 690722-05-5048
Appointment date : 01/02/08
Address : 11
USJ 3/3R
47600 Subang
Jaya Selangor Darul Ehsan
Staff employed : 109,600
(BASF Group)
Key Advisors
Auditors : KPMG
Desa Megat & Co.
8
Bandar Utama
47800 Petaling
Jaya Selangor Darul Ehsan
Composition
Authorized Capital : MYR 2,400,000,000
No of shares : 2,375,000 Ordinary Shares / 25,000
Preference Shares
Share par value : MYR 100,000
Issued capital : MYR 1,000,000,000
Paid up capital : MYR 1,000,000,000
How listed : Full List
Composition
Shareholder name : BASF NEDERLAND B.V.
Address : Postbus 1037
Sortieweg 39
Maastricht 6219 NT Netherlands
No. of shares : 600,000 Ordinary Shares
Shareholder name : PETRONAS CHEMICALS GROUP BERHAD
Address : Level 15 Tower 1
Petronas Twin Towers
Kuala Lumpur City Centre
50088 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 400,000 Ordinary Shares
Comments : Subject is a joint venture between BASF
SE of Germany one of the world's largest chemical companies and
The signing of
the shareholders agreement in August 1997 with an initial investment of RM3.4
Billion brought together a vast amount of experience, innovation, cutting edge
technology and an abundance of strategically located high quality resources.
Today,
operating from one of the largest Integrated Chemical Sites in the Asia
Pacific, BASF PETRONAS Chemicals, has progressed to become a leading chemical
company, fundamental in producing and marketing chemical products which are
ever present and highly essential in consumers' daily lives.
Structure
Name : BASF SE
Affiliation type : Ultimate Holding Company
Address : Carl Bosch Strasse 38
67056 Ludwigshafen
Germany
Comments : BASF SE operates as a chemical company
worldwide. Its Chemicals segment primarily provides basic chemicals, glues, and
electronic chemicals for the semiconductor and flat panel display industry;
solvents and plasticizers; and starting materials for detergents, plastics,
textile fibers, paints, coatings, and pharmaceuticals. The company’s Plastics
segment supplies performance polymers, including engineering plastics,
polyamides and polyamide intermediates, foams, and specialty plastics; and
polyurethanes, such as basic products, systems, and specialties for automotive,
construction, and furniture industries, as well as household appliances and
sports equipment. Its Performance Products segment offers pigments, resins,
dispersions, additives, protective films, adhesive tapes, and resins for
water-based printing systems; polymers, surfactants, chelating agents, UV
filters, and other specialties; human and animal nutrition products; and
binders, functional and process chemicals, and kaolin minerals. This segment
also offers antioxidants, pigments, light stabilizers, and specialty additives;
water treatment chemicals; superabsorbents; active ingredients, such as
caffeine and ibuprofen; excipients and customized synthesized services; and
aroma chemicals. The company’s Functional Solutions segment offers automotive
and process catalysts; adsorbents; concrete admixtures and construction systems
for the building sector; automotive and industrial coatings; and architectural
coatings. The BASF’s Agricultural Solutions segment provides fungicides,
insecticides, and herbicides, as well as seed treatment products for crop
protection. Its Oil and Gas segment engages in the exploration and production
of crude oil and natural gas in Europe, North Africa,
Name : BASF NEDERLAND B.V.
Affiliation type : Parent Company
Address : Postbus 1037
Sortieweg 39
Maastricht
6219 NT Netherlands
Comments : The subject is involved in the production
and sale of more than 9000 chemical, raw materials and intermediates.
Name : PETRONAS CHEMICALS GROUP BERHAD
Affiliation type : Minority Shareholder
Address : Level 15 Tower 1
Petronas Twin Towers
Kuala Lumpur City Centre
50088 Kuala Lumpur
Wilayah Persekutuan
Comments : Petronas Chemicals Group Berhad,
through its subsidiaries, manufactures and markets petrochemicals. Its products
include olefins, including ethylene, propylene, and pyrolysis gasoline;
polymers comprising vinyl chloride monomer, polyvinyl chloride, low density
polyethylene, and polypropylene; fertilizers, such as granular urea and
ammonia; and glycols consisting of mono-ethylene glycol, di-ethylene glycol,
and re-destilled ethylene oxide. The company’s products also
comprise
methanol; aromatics, such as benzene and paraxylene; and other basic specialty
chemicals and derivates, including MTBE, ethanolmines, nonvl and octvl phenol
ethoxylates, polyethylene and polyalkylene glycols, butanol/isobutanol, oxogas,
and carbon dioxide, as well as butyl glycol ethers, butyl acetate, and
butyl acylate.
Petronas Chemicals Group’s products are used in the production of
polypropylene, acrylic acids, acrylic esters, and oxo-alcohols; manufacture of
woven bags, plastics, films, ropes, yam, chairs, food and garment packaging,
and other industrial and consumer products; production of pipes, pipe and
conduit fittings, automobiles, blow moulding, roofing tiles, bottles,
containers, films, wires, and cables; manufacture of polyester resins for fibers
and PET containers and bottles, and brake fluid formulations; production of
purified terephthalic acid; and production of surfactants, personal care
products, urethane foam, cement and construction applications, detergents, and
emulsifiers. The company sells its products to distributors, traders, and
manufacturers serving the packaging, household, construction, and agricultural
markets, as well as manufacturers of industrial products. It operates in
Name : BASF HANDELS- UND EXPORT GMBH
Affiliation type : Sister Company
Address : Ludwigshafen Rhine Germany
Name : BASF BETEILIGUNGSGESELLSCHAFT GMBH
Affiliation type : Sister Company
Address : Ludwigshafen Rhine Germany
Name : BASF (MALAYSIA) SDN. BHD.
Affiliation type : Sister Company
Address : No. 2, Jln U8/87. Seksyen U8
Bukit Jelutong, 40706 Shah Alam
Selangor Darul Ehsan
Malaysia
Name : BASF ASIA PACIFIC SERVICE CENTRE SDN .BHD.
Affiliation type : Sister Company
Address : Level 25 Menara Telekom
Jalan Pantai Baharu
59200 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : BASF COMPANY LTD.
Affiliation type : Sister Company
Address : Yeosu-si
South Korea
Comments BASF
started its business in Korea in 1954, and is today one of Korea's top ten
chemical companies as well as an exemplary international company in Korea. BASF
Company Ltd. was established in 1998 and provides a broad portfolio in Korea
from four business units Chemicals, Specialties, Polyurethanes and
Thermoplastics – and has six world-scale production sites in Yeosu, Ulsan,
Gunsan and Ansan. BASF also has an application technology center in Daejeon, a
coatings technical center in Ansan, and a technical service center in Shiheung.
Name : BASF VIETNAM CO. LTD.
Affiliation type : Sister Company
Address : 12 Tu Do Boulevard Viet Nam Singapore IP Thuan An Binh Duong Vietnam
Name : BASF CHILE S.A.
Affiliation type : Sister Company
Address : Av. Carrascal 3851
7360081 RCH-Santiago de Chile
Casilla 3238
6501020 Santiago de Chile
Chile
Related companies and corporate affiliations comments
Other companies of the BASF SE Group should be considered
affiliates of the Subject
Bank Details
Name of
bank :
Malayan Banking Berhad (Maybank)
Address : Malaysia
Account
details :
Current Account
Name of
bank :
CIMB 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 :
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 : 31/12/10
Type of accounts : Full audited
Currency :
Exchange rate : 1 USD = MYR 3.17 as of 28-09-2011
Summarized Financial Information
Consolidation type : Non
Consolidated Non Consolidated Group Consolidated Currency :
Date of financial year end : 31/12/10 31/12/09 31/12/10
Length of accounts : 12 months 12 months 12
months
Gross profit : 18,563,000,000
Operating profit : 7,761,000,000
|
Profit before
tax : |
1,294,401,000 |
196,323,000 |
7,373,000,000 |
|
Net income : |
1,318,640,000 |
161,243,000 |
4,557,000,000 |
|
Non current
assets : |
512,098,000 |
814,760,000 |
34,532,000,000 |
|
Current assets : |
1,163,117,000 |
922,919,000 |
24,861,000,000 |
|
Inventories : |
|
|
8,688,000,000 |
|
Total assets : |
1,675,215,000 |
1,737,679,000 |
59,393,000,000 |
|
Current
liabilities : |
269,950,000 |
202,974,000 |
15,568,000,000 |
|
Non current
liabilities : |
0 |
59,212,000 |
21,168,000,000 |
|
Total
liabilities : |
269,950,000 |
262,186,000 |
36,736,000,000 |
|
Share equity : |
1,405,265,000 |
1,475,493,000 |
22,657,000,000 |
|
Retained earning : |
405,265,000 |
471,493,000 |
15,817,000,000 |
Comments :
The non-consolidated financial
information above relates to the
Subject
only.
The group’s consolidated
financial information above relates to the Subject’s Ultimate Holding Company
BASF SE and all its subsidiaries which include the Subject.
Main activities : The company is principally involved in
the production and marketing of essential raw materials such as acrylic
monomers, oxo products and butanediol products for final application in a wide
range of consumer products.
The Subject is
part of BASF SE which is a chemical company. The Company operates in six
segments: Chemicals, Plastics, Performance Products, Functional Solutions,
Agricultural Solutions and Oil & Gas. Chemicals segment offers products in
the chemical, electronic, construction, textile, automotive, pharmaceutical and
agricultural industries. Plastics segment offers a range of products, system
solutions and services. Performance Products help its customers to improve
their products and processes. Functional Solutions segment bundles system
solutions and products for customers and industries. The Agricultural Solutions
segment includes crop protection products, which guard against fungal diseases
and insects. Its Oil & gas segment produces oil and gas. In April 2010,
Intertek Group plc acquired the Regulatory and Safety Testing businesses of
Ciba Expert Services from the Company. In December 2010, BASF completed the
acquisition of Cognis Holding GmbH from Cognis Holding Luxembourg S.a r.l.
Product & services : 1)Acrylic Monomers
-Glacial Acrylic Acid
-Butyl Acrylate (BA)
2) Plasticizer
-di-2-ethyl hexyl phthalate
3)Oxo Alcohol
- Normal-butanol
- Iso butanol
4)Butanediol & Derivatives
-Tetrahydrofuran
-Gamma-butyrolactone
Purchases
Local : Yes
International : Europe,
Sales
Local : Yes
International : Worldwide
Key events :
“Our joint
venture BASF PETRONAS Chemicals plays an important role for us in achieving our
Asia Pacific Strategy for 2020. With this investment in high-growth specialty
chemicals, we will position ourselves even better to serve our customers in
Datuk Wan
Zulkiflee Wan Ariffin, Executive Vice President of Downstream Business,
PETRONAS said, “The future of petrochemical industry will be shaped by changes
in global mega-trends such as growing health awareness resulting in strong
growth in demand for specialty chemicals including superabsorbent polymers for
personal hygiene application. The success of our joint venture with BASF has
provided us the confidence to look for further collaboration opportunities into
higher value adding portfolio and position PETRONAS to be a key player in
petrochemicals in the region.”
The new
investment will be part of BASF PETRONAS Chemicals Sdn Bhd, founded by BASF and
PETRONAS in 1997. The company currently operates an integrated complex situated
at the Gebeng Industrial Zone, Pahang. The company’s share of capital is 60%
held by BASF and 40%
by PETRONAS
with a total investment of about RM3.4 billion for production facilities for
acrylic monomers, oxo products and butanediol.
Superabsorbent
polymers are materials with the ability to absorb and retain large volumes of
water and aqueous solutions. They are made from partially neutralised, lightly
cross-linked poly acrylic acid and are the key ingredients in disposable
diapers, feminine hygiene and adult incontinence products. They are also used
in cable insulation, potting soils and professional compost mixes, food
packaging, and medical waste disposal.
About PETRONAS
PETRONAS is a
Global Fortune 500 company wholly owned by the Government of Malaysia,
principally involved in all spectrum of integrated oil, gas and petrochemical
industries. For the year ended 31 March 2010, PETRONAS recorded a group revenue
of US$62.5 billion. More information
on PETRONAS is available on www.petronas.com.
About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of about €63.9 billion in 2010 and had approximately 109,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
Property & assets
Premises : The Subject operates from premises
located at the verified heading address consisting of administrative office.
Branches : In addition the Subject operates from a
Kuantan Integrated Chemical Site located at:
Jalan Gebeng 2/1
Kawasan Perindustrian Gebeng
26080 Kuantan Pahang Malaysia
Tel: +609 585 5000
Fax: +609 583 4623
The 150-hectre
Integrated Chemical Site (including the port tank farm area) currently
comprises 12 plants built in three phases producing acrylic monomers, oxo
products and butanediol. The complex is one of the largest integrated chemical
sites in the Asia Pacific region.
Total capital expenditure for the projects at the Gebeng site is about
Euro 900 million.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of
Reserve of foreign exchange & gold :
US$136.3 billion as of 29 August 2011
Gross domestic product - GDP : US$ 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
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: 55.2%
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, Credit up to 120 days
Sales Term
Local : Prepayment, Cash against document,
Credit up to 120 days
International : L/C, Prepayment, Credit up to 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.50.02 |
|
UK Pound |
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.18 |
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.