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Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CREATIVE INGREDIENTS SDN. BHD. |
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Registered Office : |
5, Jalan BA/13, Kawasan Perusahaan Bukit Angkat, Kajang,
Selangor |
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Country : |
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Date of Incorporation : |
17.05.2007 |
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Com. Reg. No.: |
773785-U |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Engaged in Trading of Food Ingredients, Additives, Raw Material and Chemicals. |
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No. of Employees : |
5 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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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 : CREATIVE INGREDIENTS SDN. BHD.
Business address : 5, Jalan BA/13
Kawasan Perusahaan Bukit Angkat
Town : Kajang
Province : Selangor Darul Ehsan
Zip/postal code : 43000
Country : Malaysia
Tel : +60 3 87391370
Fax : +60 3 87391310
Email : michael@cisbm.com
Registered address : C/o
KOH & SIOW MANAGEMENT SERVICES SDN. BHD.
123B, Jalan 25
Taman Melaka Raya
Town : Melaka
Raya
Province : Melaka
Zip/postal code : 75000
Country : Malaysia
Executive Summary
Date founded or registered : 17/05/2007
Legal form : Private
Company Limited By Shares
Chief executive : Michael
Moong Chan Pheng
Issued & paid up capital : MYR
100,000
Sales turnover : MYR 0 (Non-consolidated 8 months,
31/12/2007)
Net income : MYR
-3,970 (Non-consolidated 8 months, 31/12/2007)
Total fixed assets : MYR
903 (Non-consolidated 8 months, 31/12/2007)
Line of business : Trading
in food ingredients, additives, raw material and chemicals.
Staff employed : 5
employees
Country risk : Country
risk is minimal
Operation trend : Operational
trend is developing
Management experience : Management
is modestly experienced
Financial performance : Financial
performance is fair
Organization structure : Organizational
structure is acceptable
Detrimental : No detrimental records found
Payment history : Unknown
Credit amount asked : Not
described.
Registry Data
Registration date : 17/05/2007
Legal form : Private
Company Limited By Shares
Registration no 773785-U
Registered authority : Companies
Commission of Malaysia
Registry status : Live/Active
Previous name : None
reported.
Change of legal form : None
reported.
Key Management
Name : Michael
Moong Chan Pheng
Designation : Managing
Director
Appointments
Name : Michael
Moong Chan Pheng
Designation : Director
Identification no : 690609-08-5093
Appointment date : 25/08/10
Address : 13,
Jalan PP 3/13
Taman Putra Prima
47130 Puchong
Selangor Darul
Ehsan
Malaysia
Name : Yong
Po Choo
Designation : Director
Identification no : 710814-04-5088
Appointment date : 17/05/07
Address : 262-E,
Kampung Lapan
Bachang
75200 Melaka
Malaysia
Name : Ong
Chin Chien
Designation : Director
Identification no : 711222-04-5089
Appointment date : 25/08/10
Address : 17,
Taman Asean
Jalan Malim
75250 Melaka
Malaysia
Name : Koh
Chin Koon
Designation : Company
Secretary
Identification no : 700717-04-5263
Appointment date : 17/05/07
Address : 60E,
Pengkalan Rama Pantai
75100 Melaka
Malaysia
Staff employed : 5
employees
Key Advisors
Auditors : KY
SIOW & CO.
123A, Jalan 25
Taman Melaka Raya
75000 Melaka
Malaysia
Composition
Authorized Capital : MYR
100,000
No of shares : 100,000
Ordinary Shares
Share par value : MYR 1
Issued capital : MYR
100,000
Paid up capital : MYR
100,000
How listed : Full
List
Composition
Shareholder name : Ong Chin
Chien
Address : 17,
Taman Asean
Jalan Malim
75250 Melaka
Malaysia
No. of shares : 75,000
Ordinary Shares
Shareholder name : Moong
Chan Pheng
Address : 13,
Jalan PP 3/13
Taman Putra Prima
47130 Puchong
Selangor Darul
Ehsan
Malaysia
No. of shares : 20,000
Ordinary Shares
Shareholder name : Yong Po
Choo
Address : 262-E,
Kampung Lapan
Bachang
75200 Melaka
Malaysia
No. of shares : 5,000
Ordinary Shares
Structure
Name : VICTUAL
INDUSTRIES SDN. BHD.
Affiliation type : Associate
Address : 11,
Jalan BP 5/4
Bandar Bukit
Puchong
Puchong 47100
Selangor Darul
Ehsan
Malaysia
Bank Details
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 : 31/12/07
Type of accounts : Full
audited
Currency : Malaysia,
Ringgit (MYR)
Exchange rate : 1
USD = MYR 3.08 as of 24-03-2012
Summarized
Financial Information
Consolidation type : Non
Consolidated
Currency : Malaysia,
Ringgit (MYR)
Denomination : (x1)
One
Date of financial year end : 31/12/07
Length of accounts : 8
months
Sale turnover / Income : 0
Profit before tax : -3,970
Net income : -3,970
Current assets : 903
Total assets : 903
Current liabilities : 4,773
Total liabilities : 4,773
Share equity : -3,870
Retained earning :
-3,970
Comments : The Subject has
been exempted from revealing their financials since 2008. The Subject filed for
the certificate of exemption private company on 31-12-2011 and their
accountants states that all liabilities are in good manner.
On a separate note, the representative
contacted Mr. Michael Moon Chan Pheng advised that the Subject estimated annual
turnover for financial year end
31-12-2011 was MYR 10,000,000 compared to
6,000,000 for financial year end 31-12-2010.
We have sent Mr. Michael an official email
requesting the Subject latest audited financial statement and if we received a
reply we will provide an updated report.
Main activities : The Subject is
engaged in trading of food ingredients, additives, raw material and chemicals.
Purchases
International : China,
India, Italy
Sales
Local : Yes
International : South
East Asia countries
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$ 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 dollar
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%
2011: 55.1%
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%,m 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 : Credit
60-120 days, Telegraphic transfer, Document against payment
Sales Term
Local : Credit
60-90 days
International : Credit
60 days, Telegraphic transfer, Document against payment
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
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.51.30 |
|
|
1 |
Rs.81.36 |
|
Euro |
1 |
Rs.67.97 |
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.