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Report Date : |
19.03.2012 |
IDENTIFICATION DETAILS
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Name : |
FLOMAX (M) SDN. BHD. |
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Registered Office : |
No. 3 & 5, Jalan 5/18A, Taman Mastiara, Batu 5, Jalan Ipoh, Kuala Lumpur, Wilayah Persekutuan, 51200 |
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Country : |
Malaysia |
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Date of Incorporation : |
13.07.1996 |
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Com. Reg. No.: |
394032-A |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Distributor Of Auto Spare Parts. |
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No. of Employees : |
10 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 |
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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Small company |
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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 |
Verified Address
Subject name : FLOMAX
(M) SDN. BHD.
Business address : No.
3 & 5, Jalan 5/18A
Taman
Mastiara
Batu
5, Jalan Ipoh
Town : Kuala
Lumpur
Province : Wilayah
Persekutuan
Zip/postal code : 51200
Country : Malaysia
Tel : +60
3 62586581
Fax : +60
3 62509581
Registered address : No.
43, Suite 2.02, 2nd Floor
Jalan
Ros
Town : Segamat
Province : Johor
Darul Takzim
Zip/postal code : 85000
Country : Malaysia
Executive Summary
Date founded or registered : 13/07/1996
Legal form : Private
Company Limited By Shares
Chief executive : Ong
Chee Yow
Issued & paid up capital : MYR 500,000
Line of business : Import
and distributor of auto spare parts.
Staff employed : 10
employees
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is reasonably experienced
Financial performance : Financial
performance is undetermined
Organization structure : Organizational
structure is acceptable
Detrimental : No
detrimental records found
Payment history : No
payment delays noted
Credit amount suggestion : USD
80,000
Credit amount asked : Not
described
Registry Data
Registration date : 13/07/1996
Legal form : Private
Limited Company
Registration no 394032-A
Registered authority : Companies
Commission of Malaysia
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Ong
Chee Yow
Designation : Managing
Director
Name : Ong
Chee Meng
Designation : Director
Name : Ong
Chee Poh
Designation : Director
Appointments
Name : Ong
Chee Meng
Designation : Director
Identification no : 560605-10-5901
Appointment date : 13/07/96
Address : 52,
Jalan Tasik Indah 4
Taman
Tasik Indah
Batu
5, Jalan Ipoh
51200
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Name : Ong
Chee Yow
Designation : Director
and Company Secretary
Identification no : 630612-10-6823
Appointment date : 01/07/99
Address : 6,
Jalan Permata 4
T aman
Damai Jaya
Bukit
Siput
85020
Segamat
Johor
Darul Takzim
Malaysia
Name : Ong
Chee Poh
Designation : Director
Identification no : 641107-10-6789
Appointment date : 01/07/99
Address : 18
Jalan Pipit 1
Bandar
Puchong Jaya
47100
Puchong
Selangor
Darul Ehsan
Malaysia
Staff employed : 10
employees
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 : Ong
Seow Wei
Address : Malaysia
No. of shares : 25,000
Ordinary Shares
Shareholder name : Ong
Chee Meng
Address : 52,
Jalan Tasik Indah 4
Taman
Tasik Indah
Batu
5, Jalan Ipoh
51200
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
No. of shares : 140,000
Ordinary Shares
Shareholder name : Ong
Chee Leong
Address : Malaysia
No. of shares : 67,000
Ordinary Shares
Shareholder name : Ong
Chee Poh
Address : 18
Jalan Pipit 1
Bandar
Puchong Jaya
47100
Puchong
Selangor
Darul Ehsan
Malaysia
No. of shares : 67,000
Ordinary Shares
Shareholder name : Ong
Siew Geok
Address : Malaysia
No. of shares : 67,000
Ordinary Shares
Shareholder name : Ong
Chee Tiong
Address : Malaysia
No. of shares : 67,000
Ordinary Shares
Shareholder name : Ong
Chee Yow
Address : 6,
Jalan Permata 4
Taman
Damai Jaya
Bukit
Siput
85020
Segamat
Johor
Darul Takzim
Malaysia
No. of shares : 67,000
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 : Public
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: 425,000.00
Date of Creation: 08-03-2002
Name of Chargee: MALAYAN
BANKING BERHAD
Charge Status : UNSATISFIED
Total of Charge: 800,000.00
Date of Creation: 18-06-2003
Name of Chargee : PUBLIC
BANK BERHAD
Charge Status : UNSATISFIED
Total of Charge: 1,400,000.00
Date of Creation: 18-06-2003
Name of Chargee: PUBLIC
BANK BERHAD
Charge Status: UNSATISFIED
Legal Fillings
Bankruptcy fillings : None
reported.
Court judgements : None
reported.
Tax liens : None
reported.
Others : None
reported.
Description
Comments : The Subject has been exempted from revealing
their financials. In 2011, the
Subject filed for the certificate of exemption private
company and their
accountants state that all liabilities are in good manner.
Main activities : The
Subject is engaged as importer and distributor of auto spare parts.
Purchases
International : India, China, Taiwan
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.
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 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 : 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 : D/A 30-60 days
Sales Term
Local : Credit 90-120 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.50.31 |
|
|
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.