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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
TG ORIENTAL
STEEL SDN. BHD. |
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Formerly Known As : |
TG ENGINEERING SDN. BHD. |
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Registered Office : |
C/o MUSHTARI MANAGEMENT SERVICES SDN. BHD. 45, Jalan Perak |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.10.1978 |
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Com. Reg. No.: |
42683-P |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Manufacturer of cold finished & polished stainless / steel bars. |
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No. of Employees : |
30 employees (Subject); 400 employees (Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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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 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 30, 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 : TG ORIENTAL STEEL SDN. BHD.
Business address :
No. 1617, Lorong Perusahaan Maju 6
Prai Industrial Estate IV
Town : Prai
Province : Pulau Pinang
Zip/postal code : 13600
Country : Malaysia
Tel : +60 4 5021155
Fax : +60 4 5021100
Email : oriental@tattgiap.com.my
Website : www.tgoriental.com
Registered address
: C/o MUSHTARI MANAGEMENT SERVICES SDN.
BHD.
45, Jalan Perak
Town : Georgetown
Province : Pulau Pinang
Zip/postal code : 10150
Country : Malaysia
Executive Summary
Date founded or
registered : 23/10/1978
Legal form : Private Company
Limited By Shares
Chief executive : Siah Kok Poay
Issued & paid
up capital : MYR 1,500,000
Sales turnover : MYR 14,898,345 (Non-consolidated 12
months, 31/12/2010)
Net income : MYR 86,845
(Non-consolidated 12 months, 31/12/2010)
Total fixed assets
: MYR 16,293,212
(Non-consolidated 12 months, 31/12/2010)
Line of business :
Manufacturer of cold
finished & polished stainless / steel bars.
Staff employed : 30 employees (Subject);
400 employees (Group)
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 160,000
Credit amount
asked : Not described.
Comments : Larger credit can
still be considered. The Subject is well positioned in the market
and the financial
stability of the group is positive.
Registry Data
Registration date
: 23/10/1978
Legal form : Private Company Limited By
Shares
Registration no 42683-P
Registered
authority : Companies Commission of
Malaysia
Registry status : Live/Active
Previous name : The Subject was established under
the name TG ENGINEERING SDN. BHD. and
changed to the current style on 21-02-2007.
Change of legal
form : None reported.
Key Management
Name : Siah Kok Poay
Designation : Managing Director
Name : Siah Lee Beng
Designation : Director
Name Tan Lu Eng
Designation : Director
Appointments
Name : Siah Lee Beng
Designation : Director
Identification no
: 500102-08-5377
Appointment date :
09/02/12
Address : 30, Medan Pantai Jerjak
Sungai Nibong
11900 Bayan Lepas
Pulau Pinang
Malaysia
Biography : Mr. Siah Lee Beng serves as
Executive Director of Tatt Giap Group
Bhd. He was appointed on December 1, 2008. He is the co-founder
and Managing Director of Tatt Giap Hardware Sdn Bhd (TGH). He
started his career as Production Assistant at Tong Giap Foundry in
1968 after he completed his secondary education in 1967. He has 20
years of experience in metal casting industry and 20 years of
experience in steel and stainless steel business. He is involved in
various organizations, such as being the President of Lion Club of
Tanjung, Penang and Director of the Jelutong Chinese Primary
School. He is also the President of the Jelutong Chinese Primary
School ex-pupil Association.
Name : Tan Cheng Meng
Designation : Director
Identification no
: 521016-07-5167
Appointment date :
29/05/07
Address : 50 Lebuh Binjai Dua
Taman Sri Rambai
14000 Bukit Mertajam
Pulau Pinang
Malaysia
Name : Siah Kok Poay
Designation : Director
Identification no
: 541010-07-5615
Appointment date :
06/01/99
Address : 6 Lorong Tambun Indah 5
Taman Tambun Indah
14100 Simpang Ampat
Pulau Pinang
Malaysia
Biography : Dato' Siah Kok Poay serves as
Chairman of the Board and President
of Tatt Giap Group Bhd. He was appointed to the Board on
December 1, 2008. He obtained his Bachelor of Science in
Mathematics and Computer Science in 1976 and a diploma in
Business Administration in 1977 from Nanyang University, Singapore.
He co-founded Tatt Giap Hardware Sdn Bhd (TGH) in 1978. He is
also active in various trade organizations, such as the Malaysian
Hardware, Machinery and Building Materials Dealers Association,
Penang Hardware and Machinery Merchants Association and the
Penang Chinese Chamber of Commerce. He has served in Masinox
Industry Sdn Bhd and Pin Wooi Hardware Sdn Bhd.
Name : Tan Lu Eng
Designation : Director
Identification no
: 641004-07-5764
Appointment date :
12/05/92
Address : 22,Lorong Cengkeh 5
Taman Cengkeh
13400 Butterworth
Pulau Pinang
Malaysia
Biography : Ms. Tan Lu Eng serves as
Executive Director of Tatt Giap Group
Bhd. She was appointed on December 1, 2008. She is also the
Managing Director of Tatt Giap Steel Centre Sdn Bhd (TGSC). She
started her career in 1987 as Accounts Assistant of Tatt Giap
Hardware Sdn Bhd (TGH) after obtaining her Sijil Tinggi Pelajaran
Malaysia in 1984. She became a Director of TGH in 1996,
responsible for the sales and marketing, human resources and
administration activities. She has 20 years of experience in the steel
and stainless steel business.
Name : Siah Chin Joo
Designation : Director
Identification no
: 760106-07-5521
Appointment date :
06/06/07
Address : 30 Medan Pantai Jerjak
11900 Bayan Lepas
Pulau Pinang
Malaysia
Name : Siah Chin Hoo
Designation : Director
Identification no
: 840614-07-5229
Appointment date :
06/03/08
Address : No. 6, Lorong Tambun Indah
5
Taman Tambun Indah
14100 Simpang Ampat
Pulau Pinang
Malaysia
Name : Kong Hwan Kwan @ Kong
Fam Kwan
Designation : Company Secretary
Identification no
: 530922-07-5577
Appointment date :
19/06/89
Address : C/o MUSHTARI MANAGEMENT
SERVICES SDN. BHD.
45, Jalan Perak
Georgetown 10150
Pulau Pinang
Malaysia
Name : Yeoh Wee Lee
Designation : Company Secretary
Identification no
: 670805-07-5097
Appointment date :
06/06/07
Address : B2-16-7, Bayswater
Condominium
Jalan Tengku Kudin 2
11700 Gelugor
Pulau Pinang
Malaysia
Staff employed : 30 (Subject); 400 (Group)
Key Advisors
Auditors : KPMG
KPMG Tower, 8 First Avenue
Bandar Utama , 47800 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Composition
Authorized Capital
: MYR 5,000,000
No of shares : 5,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 1,500,000
Paid up capital : MYR 1,500,000
Changed in capital
: The Subject increased its share
capital from MYR 1,000,000 to MYR 5,000,000
on 26-12-2007.
How listed : Full
List
Composition
Shareholder name :
TATT GIAP GROUP BERHAD
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
No. of shares : 1,500,000 Ordinary Shares
% of shares : 100%
Structure
Name : TATT GIAP GROUP BERHAD
Affiliation type :
Parent Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments : Tatt Giap Group Berhad, an
investment holding company, engages in the
manufacture and trade of cold drawn and polished stainless steel bars
primarily in
Malaysia. It also involves in the provision of stainless steel tubes and
pipes, as
well as other ferrous and non ferrous metal products; perforated metal
products;
Superinox stainless steel industrial welded tubes and pipes; and
phosphate and
anti finger treatment electro-galvanized steel coils. In addition, the
company
engages in the import, export, wholesale, and retail of stainless steel
products;
and invests in properties. It supplies a range of products to various
industrial and
building sectors. The company exports its products to ASEAN countries,
India,
Australia, the United States, and the Middle East. Tatt Giap Group
Berhad was
founded in 1978 and is headquartered in Prai, Malaysia.
Name : TATT GIAP HARDWARE
SDN. BHD.
Affiliation type :
Sister Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
Prai 13600
Pulau Pinang
Malaysia
Comments : Importers, wholesalers and
retailer of stainless steel products.
Name : TATT GIAP STEEL CENTRE
SDN. BHD.
Affiliation type :
Sister Company
Address : Plot 33, Jalan Perusahaan
Bukit Minyak
Bukit Minyak Industrial Park
14000, Bukit Mertajam
Penang
Malaysia
Comments : Manufacturing and trading of
stainless steel tubes and pipes and other ferrous
and non ferrous metal products.
Name : SUPERINOX PIPE INDUSTRY
SDN. BHD.
Affiliation type :
Sister Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai
Penang
Malaysia
Comments : Manufacturing and distribution
of Superinox stainless steel pipes and tubes.
Name : NIPPON E-GALV STEEL
SDN. BHD.
Affiliation type :
Sister Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments : Manufacturing of
electro-galvanised steel.
Name : TGMI INDUSTRIES SDN.
BHD.
Affiliation type :
Sister Company
Address : No. 6, Jalan Perusahaan 5
Beranang Industrial Park
43700 Beranang
Selangor Darul Ehsan
Malaysia
Comments : Manufacture of perforated
metals in all steels, aluminium coil and sheet.
Name : SUPERINOX INTERNATIONAL
SDN. BHD.
Affiliation type :
Sister Company
Address : Plot 33 Jalan Perusahaan
Bukit Minyak
Bukit Minyak Industrial Park
14000 Bukit Mertajam, Penang
Malaysia
Comments : Exporter of Superinox stainless
steel tubes and pipes.
Name : TATT GIAP PERFORATED
METALS SDN. BHD.
Affiliation type :
Sister Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments : Trading of metal products.
Name : FORMOSA INDUSTRIES SDN.
BHD.
Affiliation type :
Sister Company
Address : No. 1617, Lorong Perusahaan
Maju 6
Prai Industrial Estate IV
13600 Prai, Penang
Malaysia
Comments : Investment in properties.
Related companies
and corporate
affiliations
comments: Other companies of the Tat
Giap Group should be considered affiliates of the Subject.
Bank Details
Name of bank : CIMB Bank Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Alliance 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: 1,391,000.00
Date of Creation: 12-04-2004
Name of Chargee: ALLIANCE ISLAMIC BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 1,391,000.00
Date of Creation: 12-04-2004
Name of Chargee: ALLIANCE ISLAMIC BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 3,800,000.00
Date of Creation: 15-05-2007
Name of Chargee: ALLIANCE BANK MALAYSIA BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,400,000.00
Date of Creation: 15-05-2007
Name of Chargee: ALLIANCE ISLAMIC BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 26-02-2008
Name of Chargee: CIMB BANK 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 3.07 as of
30-03-2012
Summarized Financial Information
Consolidation type
: Non Consolidated Non Consolidated Group Consolidated
Currency : Malaysia,
Ringgit (MYR) Malaysia, Ringgit (MYR) Malaysia, Ringgit (MYR)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 31/12/10 31/12/09 31/12/11
Length of accounts
: 12 months 12 months 12 months
Sale turnover /
Income : 14,898,345 10,856,613 312,140,000
Gross profit : 777,159 721,180 28,619,000
Operating profit :
817,938 382,590 7,840,000
Profit before tax
: 217,205 -201,721 2,618,000
Net income : 86,845 -270,344 1,690,000
Non current assets
: 6,433,912 6,914,119 137,831,000
Current assets : 9,859,300 10,260,114 214,512,000
Inventories : 5,535,997 5,647,658 128,698,000
Total assets : 16,293,212 17,174,233 352,343,000
Current
liabilities : 14,759,688
15,037,114 193,387,000
Non current
liabilities : 456,278 1,146,718 35,954,000
Total liabilities
: 15,215,966 16,183,832 229,341,000
Share equity : 1,077,246 990,401 123,002,000
Retained earning : -422,754 -509,599
Comments : The non-consolidated financial
information above relates to the Subject only.
The group’s consolidated financial information above relates to the
Subject’s
Parent Company Tatt Giap Group Berhad and all its subsidiaries which
include
the Subject.
Main activities : The Subject is engaged as
manufacturer of cold finished & polished
stainless / steel bars.
The Subject is part of Tatt Giap Group Berhad (TGG), which is a Malaysia
based investment holding company. The Company, through its
subsidiaries, is engaged in manufacturing of stainless steel pipes and
tubes, manufacturing of cold drawn and polished carbon steel/stainless
steel bars, manufacturing of electro galvanized steel coils and steel
distribution. Its products have downstream applications in the
industries,
such as automotive, metal stamping and fabrication, oil and gas, and
building, construction and infrastructure. The Company’s direct
subsidiaries are Tatt Giap Hardware Sdn Bhd, which is an importer,
wholesaler and retailer of stainless steel and steel products, and TG
Oriental Steel Sdn Bhd, which is engaged in manufacturing of cold drawn
and polished carbon steel/stainless steel bars. In addition, the Company
also has indirect subsidiaries, including Formosa Industries Sdn Bhd,
Nippon EGalv Steel Sdn Bhd, Superinox Pipe Industry Sdn Bhd and
Superinox International Sdn Bhd, among others.
Product &
services : Cold finished and
polished stainless steel bars
Purchases
Local : Yes
International : Asian countries
Sales
Local : Yes
International : Southeast Asia, India, Australia, United
States and Middle East
Key events : Tatt Giap buys land for RM18.8m
September 9, 2011
Tatt Giap Group Bhd, through its wholly-owned subsidiary, Superinox Pipe
Industry Sdn Bhd, has entered into a sale and purchase agreement for two
pieces of land from GUH Electrical Appliances Sdn Bhd for a cash
consideration of RM18.8 million.
In a filing to Bursa Malaysia today, Tatt Giap said the agreement is to
purchase the land measuring 2.017 hectares and 3.092 hectares
respectively, together with buildings erected there on.
"The proposed acquisition is to cater for future expansion of the
stainless
steel industrial pipes business and venture into new activity, namely,
the
manufacture of stainless steel fittings
"The proposed acquisition is not expected to have a significant
effect on
the group's earnings for the financial year ending December 31, 2011,
other than the interest to be charged on the bank borrowing of
approximately RM108,000," the company said.
TATT GIAP GROUP SIGNS UNDERWRITING AGREEMENT
Penang, 13 May 2010 - Marking a milestone towards its listing on the
Main
Market of Bursa Malaysia, Tatt Giap Group Berhad ("Tatt Giap"
or "the
Group") and its major shareholders, namely Giapxin Sdn Bhd
("GSB"),
Perbadanan Nasional Berhad ("PNS"), today signed an
underwriting
agreement with Alliance Investment Bank Berhad ("Alliance").
Dato' Steven Siah Kok Poay, Chairman and President of Tatt Giap said,
"The listing of Tatt Giap is the way to go for the expansion of the
Group.
With our established track record, growing geographical presence and
continued product and service enhancements, the listing should provide
us
with the necessary resources to strengthen our position in the growing
steel processing industry."
According to a market research report by Frost & Sullivan, the
Malaysian
steel processing industry is expected to grow from RM3.1 billion in 2010
to
RM4.1 billion in 2014, representing a compounded annual growth rate of
7.3%.
The Group aims to raise RM8.45 million through the public issue of 14.56
million new ordinary shares comprising 6,000,000 new shares to the
Malaysia public, 2,000,000 new shares to eligible directors, employees
and
individuals who have contributed to the success of the Group, and
6,560,000 shares to identified investors. In addition, 14,200,000 vendor
shares will be offered collectively by GSB and PNS to bumiputra and
identified investors. The shares will be priced at RM0.58 each.
Tatt Giap's listing will be managed by Alliance as the adviser, sole
underwriter and placement agent. Net proceeds from the public issue
amounting to RM8.45 million will be used to repay bank borrowings and
defray listing expenses.
With some 20 years of track record for consistently delivering
high-quality
products and services, Tatt Giap Group is today, primarily engaged in
the
manufacturing and trading of stainless and steel related products. In
addition to its steel processing activities, the Group distributes steel
and
provides comprehensive value-added, customised solutions for its
customers.Tatt Giap's base of customers spans the automotive,
construction, electrical & electronics, manufacturing and retail
industries.
Commenting on the Company's prospects, Dato' Steven Siah said,
"Over
the years, we have demonstrated considerable success in transforming
and expanding our business activities and presence. Going forward, we
seek to further expand our market share both locally and globally, by
enhancing and expanding our products and service offerings, particularly
in
the downstream steel product area."
For the financial year ended 31 December 2009, Tatt Giap achieved profit
after tax of RM6.9 million on revenue of RM225.4 million.
The listing of Tatt Giap shares is expected to take place at the
beginning of
July 2010.
PROPOSED DISPOSAL OF SHARES IN NIPPON EGALV STEEL SDN
BHD (“NIPPON EGALV”)
7 April 2011
Tatt Giap Group Berhad (“TGG” or “Company”)
The Board of Directors of TGG is pleased to announce that the Company
has on 7 April 2011 executed a Letter of Intent (“Letter”) with Nippon
Steel
Corporation (“NSC”) to confirm the potential sale by its wholly-owned
sub-subsidiary, Tatt Giap Steel Centre Sdn Bhd (“TGSC”) and acquisition
by NSC of 9,022,500 ordinary shares of RM1.00 each representing 40.1%
of the entire issued share capital of Nippon EGalv (“Sale Shares”) for
an
aggregate purchase price of RM19,172,812.50 (“the Proposed Disposal”)
9 December 2009
JOINT VENTURE AGREEMENT BETWEEN NIPPON STEEL
CORPORATION, HANWA CO.LTD AND NIPPON EGALV STEEL SDN.BHD.
NIPPON STEEL CORPORATION, Japan's largest and the world's
second-largest steel maker, HANWA CO., LTD., one of the biggest trading
company in Japan and Nippon EGalv Steel Sdn. Bhd. (Formerly known as
E-Galv Steel Industry Sdn. Bhd.), a member of TATT GIAP Group as one
of the pioneer manufacturer to produce Electro Galvanized Steel Coils in
Malaysia, signed a Joint Venture Agreement (JVA) on 9th December 2009
in Tokyo, Japan.
With the signing of the Join Venture Agreement, NIPPON STEEL
CORPORATION will have a stake of 10% and HANWA CO., LTD. will have
a stake of 15% in Nippon EGalv Steel Sdn. Bhd.
The JV will enable Nippon EGalv Steel to expand and create a substantial
knowledge and technical base, while maintaining the long term
relationship
between TATT GIAP Group, Nippon Steel Corporation and Hanwa Co. Ltd.
which has been enduring for more than 15 years.
Malaysia is one of the biggest areas in great demand for
Electro-Galvanized steel where a number of Japanese
consumer-electronics manufacturers are moving in and expanding their
production. By investing in Nippon EGalv Steel, Nippon Steel and HANWA
foresee that they will be able to participate with Nippon EGalv Steel in
constructing an Electro-Galvanized steel sheet supply system in order to
meet the demand from Local and Japanese consumer-electronics
manufacturers through provision of technical assistance and stable
supply
of raw material to Nippon EGalv Steel. On the other hand, the joint
venture
will also support Nippon Steel Corporation in maintaining its market
shares
in Malaysia.
We believe that this strong partnership will generate a milestone for
Tatt
Giap Group and well placed to make the most of the tremendous growth
potential and will add momentum to seeing this company grow and
prosper. Nevertheless, it will also enhance Malaysia's status in the
steel
industry while strengthening our national economy. Nippon EGalv Steel in
our part, we remain committed to bring high standards of corporate
governance, environment protection, and a strong culture of striving for
excellence.
"This joint venture will be a strong platform to pursue growth
opportunities
and we look forward to the future success of this partnership".
Property & Assets
Premises : The
Subject operates from group headquarters located at the verified
heading address
consisting of production facilities, administrative office and
warehouse.
Branches : None
reported.
Other property :
Total NBV of property, plant and equipment as of 31-12-2010 was MYR
4,372,671.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Central
Bank of Malaysia
Reserve of foreign
exchange & gold : US$ 134.8
billion as of 15 March 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%
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 : 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, Bank transfer, Document against payment, Credit 30-90 days
International :
L/C, Document against payment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local :
Prepayment, Bank transfer, Document against payment, Credit 30-90 days
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
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.