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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
HOO LEONG AUTO PARTS SDN. BHD. |
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Registered Office : |
No. 9, Jalan 5/18A Taman Mastiara Batu 5, Jalan Ipoh Kuala Lumpur Wilayah Persekutuan 51200 |
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|
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Country : |
Malaysia |
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Financials (as on) : |
30.09.2010 |
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|
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Date of Incorporation : |
12.09.1992 |
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Com. Reg. No.: |
248606-H |
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Legal Form : |
Private Company
Limited By Shares |
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Line of Business : |
Supplier of auto
spare parts. |
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No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 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 |
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Restricted |
C2 |
|
Off-credit |
D |
Subject name : HOO LEONG AUTO PARTS SDN. BHD.
Business address : No. 9, Jalan 5/18A
Taman Mastiara
Batu 5, Jalan Ipoh
Town : Kuala
Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 51200
Country : Malaysia
Tel : +60
3 62527509
Fax : +60 3 62570756
Registered address : C/o HL WONG & CO SDN. BHD.
No. 24-5-1 Jalan 4/50
Diamond Square
Off Jalan Gombak
Town : Kuala
Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 53000
Country : Malaysia
Executive Summary
Date founded or registered : 12/09/1992
Legal form : Private
Company Limited By Shares
Chief executive : Ling
Toh Hoen
Issued & paid up capital : MYR
400,000
Sales turnover : MYR
4,346,610 (Non-Consolidated 12 Months, 30/09/2010)
Net income : MYR
319,271 (Non-Consolidated 12 Months, 30/09/2010)
Total fixed assets : MYR
4,447,473 (Non-Consolidated 12 Months, 30/09/2010)
Line of business : Supplier
of auto spare parts.
Staff employed : 13
employees
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is reasonably 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
100,000
Credit amount asked : Not
described.
Registry Data
Registration date : 12/09/1992
Legal form : Private
Company Limited By Shares
Registration no 248606-H
Registered authority : Companies
Commission of Malaysia
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Ling Toh Hoen
Designation : Managing Director
Appointments
Name : Ling
Toh Hoen
Designation : Director
Identification no : 550801-08-5785
Appointment date : 12/09/92
Address : No.
21, Jalan SS 14/6M
Subang Jaya
47500 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : Gan
Suan Choo
Designation : Director
Identification no : 580627-08-5372
Appointment date :
13/09/93
Address : No.
21, Jalan SS14/6M
Subang Jaya
47500 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : Yeap
Por Seng
Designation : Director
Identification no : 620101-08-7561
Appointment date : 21/09/92
Address : No.34,
Jalan Grik
Jalan Ipoh, Off Batu 4
51200 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Chin
Geok Beng
Designation : Director
Identification no : 650801-02-5713
Appointment date : 13/09/93
Address : No.
72, Jalan Raja Laut
50350 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Wong
Han Lim
Designation : Company
Secretary
Identification no : 750428-04-5465
Appointment date : 13/12/10
Address : 19-8
Idaman Puteri
No.4 Jalan 13/21D
Medan Idaman
53100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Staff employed : 13
employees
Key Advisors
Auditors : GEW
& PARTNERS
568-3-15, 3rd Floor
Kompleks Mutiara
3 1/2 Miles, Jalan Ipoh
51200 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Composition
Authorized Capital : MYR
400,000
No of shares : 400,000
Ordinary Shares
Share par value : MYR 1
Issued capital : MYR
400,000
Paid up capital : MYR
400,000
How listed : Full
List
Composition
Shareholder name : Gan Suan
Choo
Address : No.
21, Jalan SS 14/6M
Subang Jaya
47500 Petaling Jaya
Selangor Darul Ehsan
Malaysia
No. of shares : 66,666
Ordinary Shares
Shareholder name : Yeap Por
Seng
Address : No.34,
Jalan Grik
Jalan Ipoh, Off Batu 4
51200 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 100,001
Ordinary Shares
Shareholder name : Chin Geok
Beng
Address : No.
72, Jalan Raja Laut
50350 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 40,000
Ordinary Shares
Shareholder name : Ling Toh
Hoen
Address : No.
21, Jalan SS 14/6M
Subang Jaya
47500 Petaling Jaya
Selangor Darul Ehsan
Malaysia
No. of shares : 53,334
Ordinary Shares
Shareholder name : Au Sam
Chye
Address : Block
C-23, Ground Floor
Jalan Daya Utama,
Taman Daya
52100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 40,000
Ordinary Shares
Shareholder name : Lim Yeong
Lay
Address : No.
41, Jalan SS 18/6
Subang Jaya
47500 Petaling Jaya
Selangor Darul Ehsan
Malaysia
No. of shares : 99,999
Ordinary Shares
Structure
Related companies and corporate affiliations comments : None reported.
Bank Details
Name of bank : Malayan Banking Berhad
Address : Malaysia
Account details : Current
Account
Name of bank : Hong
Leong 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: 408,000.00
Date of Creation: 13-09-1999
Name of Chargee: HONG LEONG BANK BERHAD
Charge Status : UNSATISFIED
Total of Charge: 600,000.00
Date of Creation: 06-01-2003
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 : 30/09/10
Type of accounts : Full
audited
Currency : Malaysia,
Ringgit (MYR)
Exchange rate : 1
USD = MYR 3.05 as of 15-03-2012
Summarized
Financial Information
Consolidation type
: Non Consolidated Non
Consolidated
Currency
: Malaysia, Ringgit (MYR)
Malaysia, Ringgit (MYR)
Date of financial year end :
30/09/10 30/09/09
Length of accounts :
12 months 12
months
Sale turnover / Income :
4,346,610 3,972,599
Gross profit :
1,156,468 1,006,875
Operating profit :
441,018 376,427
Profit before tax :
410,283 330,743
Net income :
319,271 254,299
Non current assets :
733,504 614,297
Current assets :
3,713,969 3,949,907
Inventories :
570,541 654,217
Total assets :
4,447,473 4,564,204
Current liabilities :
1,553,239 2,058,890
Non current liabilities :
174,809 105,160
Total liabilities :
1,728,048 2,164,050
Share equity :
2,719,425 2,400,154
Retained earning :
2,319,425 2,000,154
Main activities :
The Subject is engaged as supplier of auto spare parts.
Purchases
International :
Asian countries
Sales
Local :
Yes
International :
No exports.
Property &
Assets
Premises :
The Subject operates from premises located at the verified heading
address consisting
of warehouse and administrative office.
Branches :
None reported.
Other property :
Total NBV of property, plant and equipment as of 30-09-2010 was MYR
733,504.
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) :
US$ 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 asa % 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 tradedshares :
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 :
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, Credit 30-60 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-60 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.50.31 |
|
|
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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.