MIRA INFORM REPORT
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Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
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Name : |
OLEOCOMM GLOBAL SDN. BHD. |
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Registered Office : |
C/O Ahl Corporate Services Sdn. Bhd., 5-3, Jalan 109f, Plaza Danau 2, Taman Danau Desa, Kuala Lumpur, Wilayah Persekutuan, Zip/Postal Code 58100 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.09.2004 |
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Com. Reg. No.: |
666473-X |
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Legal Form : |
Private Company Limited By
Shares |
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Line of Business : |
Trading in palm oil, palm
oil products and oleochemicals products |
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No. of Employees : |
4 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 160,000 |
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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 30th, 2011
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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 : OLEOCOMM GLOBAL SDN. BHD.
Business address : Suite 9-42, 9th Floor
Mutiara
Complex
Jalan
Ipoh, Batu 3
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 51200
Country : Malaysia
Tel : +60 12 2355852
Fax : +60 3 62034546
Email : sales@oleocommglobal.com
Registered address : C/o AHL CORPORATE SERVICES SDN. BHD.
5-3, Jalan
109F
Plaza
Danau 2
Taman
Danau Desa
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 58100
Country : Malaysia
Executive Summary
Date founded or registered : 20/09/2004
Legal form : Private Company Limited By Shares
Chief executive : Anuj Kapoor
Issued & paid up capital
: MYR 350,000
Sales turnover : MYR 211,919,394 (Non-Consolidated
12 months, 31/12/2010)
Net income : MYR 420,404
(Non-Consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 55,006,703
(Non-Consolidated 12 months, 31/12/2010)
Line of business : Trading in palm oil, palm
oil products and oleochemicals products.
Staff employed : 4 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is stable
Detrimental records : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 160,000
Credit amount asked : Not described.
Registry Data
Registration date : 20/09/2004
Legal form : Private Company Limited By
Shares
Registration no 666473-X
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Anuj Kapoor
Designation : Managing Director
Appointments
Name : Ruchita Kapoor
Designation : Director
Identification no : H2425759
Appointment date : 20/09/04
Address : A-25-7, Vista Kiara
Jalan
Kiara 3, Bukit Kiara
50480
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Name : Anuj Kapoor
Designation : Director
Identification no : Z2110196
Appointment date : 15/03/07
Address : A-25-7, Vista Kiara
Jalan
Kiara 3, Bukit Kiara
50480
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Name : Fong Wai Mun
Designation : Company Secretary
Identification no : 720610-14-5350
Appointment date : 29/04/08
Address : 11, Jalan SS3/66
Kelana
Jaya
47300
Petaling Jaya
Selangor
Darul Ehsan
Malaysia
Name : Teh Pei Yun
Designation : Company Secretary
Identification no : 780617-10-5882
Appointment date : 29/04/08
Address : 35, Jalan Putri Jaya 11
Taman
Putri Jaya
43200
Cheras
Selangor
Darul Ehsan
Malaysia
Staff employed : 4 employees
Key Advisors
Auditors : A.H. LIM & PARTNERS
5-3, Jalan
109F
Plaza
Danau 2
Taman
Danau Desa
Kuala
Lumpur 58100
Wilayah
Persekutuan
Malaysia
Composition
Authorized Capital : MYR 500,000
No of shares : 500,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 350,000
Paid up capital : MYR 350,000
Changed in capital : The Subject
increased its share capital from MYR 100,000 to MYR 500,000 on 20-07-2005.
How listed : Full List
Composition
Shareholder name : Anuj Kapoor
Address : A-25-7, Vista Kiara
Jalan
Kiara 3, Bukit Kiara
50480
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
No. of shares : 175,000 Ordinary Shares
Shareholder name : Syed Saiful Adzim Bin Syed Khalid
Address : Malaysia
No. of shares : 105,000 Ordinary Shares
Shareholder name : Ruchita Kapoor
Address : A-25-7, Vista Kiara
Jalan
Kiara 3, Bukit Kiara
50480
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
No. of shares : 70,000 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 : Standard Chartered Bank Malaysia
Berhad
Address : Malaysia
Account details : Current Account
Name of bank : HSBC Bank Malaysia 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: OPEN CHARGE
Date of Creation: 16-03-2011
Name of Chargee: STANDARD CHARTERED BANK MALAYSIA 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 3.05 as of
15-03-2012
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 : 31/12/10 31/12/09
Length of accounts : 12 months 12 months
Sale turnover / Income : 211,919,394
139,646,144
Gross profit : 1,171,816 1,201,399
Operating profit : 542,531 500,163
Profit before tax : 535,142 497,313
Net income : 420,404 415,263
Non current assets : 170,102 37,640
Current assets : 54,836,601 21,177,434
Total assets : 55,006,703 21,215,074
Current liabilities : 52,656,345 19,376,999
Non current liabilities : 137,546 45,667
Total liabilities : 52,793,891 19,422,666
Share equity : 2,212,812
1,792,408
Retained earning : 1,862,812 1,442,408
Main activities : The Subject is engaged in trading of palm oil, palm oil products and oleochemicals products.
Product & services :
· Fatty Acids
· Fatty Alcohol
· Methyl Ester
· Soap Noodles
· Soap
· Margarine
· Glycerine
· Palm Oil
· Palm Kernal Oil
· Palm Acid Oil
· Coconut Oil
Purchases
Local : Yes
International : India, Indonesia, Thailand
Sales
Local : Yes
International : Worldwide to over 32 countries
Property &
Assets
Premises
: The Subject operates
from premises located at the verified heading address
consisting of
administrative office.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 31-12-2010 was MYR 170,102.
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) : 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%
Unemployment 2008 : 3.3 %
2009 : 3.6 %
2010: 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 (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 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
Local : Prepayment,
Document against payment, Credit 30-90 days
International : L/C, Document against
payment, Telegraphic transfer, Credit 30-90 days
Sales Term
International : L/C, Document
against payment, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.31 |
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UK Pound |
1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.