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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MINIDECO
SDN. BHD. |
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Registered Office : |
Office
Suite Unit A-23-03, Tower A, 23rd Floor, Menara UOA Bangsar, No. 5 Jalan Bangsar Utama
1, Kuala Lumpur, Wilayah Persekutuan 59000 |
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Country : |
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Financials: |
31.12.2010 |
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Date of Incorporation : |
31.12.1997 |
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Com. Reg. No.: |
456083-X |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Import
and sales of diamond and gemstone. |
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No. of Employees : |
1 |
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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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 (31.12.2011) |
Current Rating (31.03.2012) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 : MINIDECO SDN. BHD.
Business
address : Office Suite Unit
A-23-03, Tower A, 23rd Floor
Menara UOA Bangsar
No. 5 Jalan Bangsar
Utama 1
Town : Kuala Lumpur
Province
: Wilayah
Persekutuan
Zip/postal
code : 59000
Country
: Malaysia
Tel : +60 3 22019192
Fax : +60 3 22881230
Email :
minideco@hotmail.com
Website
:
www.minideco.com.my
Registered
address : Level 5, Menara City One
No.3 Jalan Munshi
Abdullah
Town : Kuala Lumpur
Province
: Wilayah
Persekutuan
Zip/postal
code : 50100
Country
: Malaysia
Executive Summary
Date
founded or registered : 31/12/1997
Legal
form : Private Company Limited By Shares
Chief
executive : Ujjwal Mehta
Issued
& paid up capital : MYR
1,200,000
Sales
turnover : MYR 17,409,641 (Non-consolidated 12
months, 31/12/2010)
Net
income : MYR 223,392 (Non-consolidated 12 months,
31/12/2010)
Total
fixed assets : MYR 10,834,291 (Non-consolidated 12
months, 31/12/2010)
Line
of business : Import and sales of diamond and
gemstone.
Staff
employed : 1 employee
Company Analysis
Country
risk : Country risk is minimal
Operation
trend : Operational trend is progressing
Management
experience : Management is reasonably 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 asked : Not described.
Registry Data
Registration
date : 31/12/1997
Legal
form : Private Company
Limited By Shares
Registration
no. : 456083-X
Registered
authority : Companies Commission of
Malaysia
Registry
status : Live/Active
Previous
name : None reported.
Change
of legal form : None reported.
Key Management
Name : Ujjwal Mehta
Designation
: Managing Director
Appointments
Name : Bala Subramanian
A/L Muthaiah
Designation
: Director
Identification
no : 701013-10-6173
Appointment
date : 30/05/06
Address
: A-11-5 Green Park
Sri Putramas, Jalan
Putramas 1
51200 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Rokmini Bt Masirang
Designation
: Director
Identification
no : 770702-12-5686
Appointment
date : 15/12/04
Address
: AG 1-3,Jalan
Pandan Indah 3/3
Pandan Indah
55100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Prince Sancheti
Designation
: Director
Identification
no : F9023938
Appointment
date : 07/08/06
Address
: Block A, 299-4-4
Menara Bangsar
Jalan Maarof, Bangsar
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Ujjwal Mehta
Designation
: Director
Identification
no : Z2110052
Appointment
date : 20/11/98
Address
: Block A, 299-4-4
Menara Bangsar
Jalan Maarof, Bangsar
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : M Ramanathan A/L S
M Meyyappan
Designation
: Company Secretary
Identification
no : 600923-10-6815
Appointment
date : 10/08/00
Address
: 15, Jalan Dato
Abdul Aziz 14/29
46100 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Staff
employed : 1 employee
Key Advisors
Auditors
: WSJ & CO
136A, Jalan Cerdas
Taman Connaught
Cheras
56000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Composition
Authorized
Capital : MYR 5,000,000
No of
shares : 5,000,000
Ordinary Shares
Share
par value : MYR 1
Issued
capital : MYR 1,200,000
Paid
up capital : MYR 1,200,000
How listed
: Full List
Composition
Shareholder
name : Bala Subramanian A/L
Muthaiah
Address
: A-11-5 Green Park
Sri Putramas, Jalan
Putramas 1
51200 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of
shares : 480,000 Ordinary
Shares
Shareholder
name : Ujjwal Mehta
Address
: Block A, 299-4-4
Menara Bangsar
Jalan Maarof, Bangsar
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of
shares : 180,000 Ordinary
Shares
Shareholder
name : Rokmini Bt Masirang
Address
: AG 1-3,Jalan Pandan
Indah 3/3
Pandan Indah
55100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of
shares : 360,000 Ordinary
Shares
Shareholder
name :
Prince Sancheti
Address
: Block A, 299-4-4
Menara Bangsar
Jalan Maarof, Bangsar
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of
shares : 180,000 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 : CIMB
Bank Berhad
Address
:
Malaysia
Account
details : Current
Account
Name
of bank : United Overseas Bank Limited
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: 800,000.00
Date of Creation:
03-08-2007
Name of Chargee: MALAYAN
BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation:22-03-2010
Name of Chargee: UNITED OVERSEAS BANK
(MALAYSIA) BHD.
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 3.03 as of 30-04-2012
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 :
17,409,641 15,876,447
Profit
before tax :
254,658 105,354
Net
income :
223,392 79,387
Non
current assets :
1,664,106 688,860
Current
assets :
9,170,185 10,169,318
Total
assets :
10,834,291 10,858,178
Current
liabilities :
7,917,059 8,923,003
Non
current liabilities :
961,031 402,366
Total
liabilities :
8,878,090 9,325,369
Share
equity :
1,956,201 1,532,809
Retained
earning : 756,201 532,809
Main
activities :
The Subject is engaged in import and sales of diamond and gemstone.
Purchases
International
: India,
Hong Kong
Sales
Local : Yes
International
: India,
Hong Kong
Property & Assets
Premises
: The Subject
operates from premises located at the verified heading
address consisting
of an administrative office.
Branches
: None
reported.
Gross Domestic Products (GDP) & Economic
Overview
Central
bank :
Central Bank of Malaysia
Reserve
of foreign exchange & gold :
US$ 135.8 billion as of 13 April 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: 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
(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%, 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
: Credit 60-120 days, Prepayment
Sales Term
Local
: Credit 60-120 days, Cash,
Prepayment
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.53.23 |
|
|
1 |
Rs.86.14 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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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.