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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SUGNOMAL SDN.
BHD. |
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Registered Office : |
No. 29, Jalan
Tuanku Abdul Rahman Kuala Lumpur Wilayah Persekutuan 50100 |
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Country : |
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Financials (as on) : |
31.10.2010 |
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Date of Incorporation : |
27.08.1993 |
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Com. Reg. No.: |
275098-U |
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Legal Form : |
Private Company
Limited By Shares |
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Line of Business : |
Import and
export of textiles and garments. |
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No. of Employees : |
20 employees |
RATING & COMMENTS
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MIRAs 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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : SUGNOMAL SDN. BHD.
Business address :
No. 29, Jalan Tuanku Abdul Rahman
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50100
Country : Malaysia
Tel : +60 3 26935039
Fax : +60 3 26930286
Email : sugnomal@streamyx.com
Registered address
: No. 29, Jalan Tuanku Abdul Rahman
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50100
Country : Malaysia
Executive Summary
Date founded or
registered : 27/08/1993
Legal form : Private Company
Limited By Shares
Chief executive : Jaikishin Sugnomal
Aswani
Issued & paid
up capital : MYR 4,700,000
Sales turnover : MYR 9,691,085 (Non-consolidated 12
months, 31/10/2010)
Net income : MYR 168,056
(Non-consolidated 12 months, 31/10/2010)
Total fixed assets
: MYR 12,335,436
(Non-consolidated 12 months, 31/10/2010)
Line of business :
Import and export of
textiles and garments.
Staff employed : 20 employees
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
asked : Not described.
Registry Data
Registration date
: 27/08/1993
Legal form : Private Company Limited By
Shares
Registration no 275098-U
Registered
authority : Companies Commission of
Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Jaikishin Sugnomal
Aswani
Designation : Managing Director
Appointments
Name : Jaikishin Sugnomal
Aswani
Designation : Director
Identification no
: 470214-75-5027
Appointment date :
27/08/93
Address : No. 29, Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Sameer Jaikishin Aswani
Designation : Director
Identification no
: 7534837A
Appointment date :
18/09/06
Address : No. 29, Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Ling Siew Chin
Designation : Company Secretary
Identification no
: 560206-10-5816
Appointment date : 06/09/02
Address : 7-3, Jalan Cecawi 6/19B
Section 6
Kota Damansara
47810 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Staff employed : 20 employees
Key Advisors
Auditors : SJ GRANT THORNTON
Level 11-1, Faber Imperial Court
Jalan Sultan Ismail
50250 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 4,700,000
Paid up capital : MYR 4,700,000
How listed : Full
List
Composition
Shareholder name :
Jaikishin Sugnomal Aswani
Address : No. 29, Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 4,699,999 Ordinary Shares
Shareholder name :
Sameer Jaikishin Aswani
Address : No. 29, Jalan Tuanku Abdul
Rahman
50100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of shares : 1 Ordinary Share
Structure
Related companies
and corporate
affiliations
comments : None reported.
Bank Details
Name of bank : CIMB Bank Berhad
Address : Malaysia
Account details : Current Account
Name of bank : Affin 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: 2,000,000.00
Date of Creation: 19-08-1999
Name of Chargee: AFFIN BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 2,000,000.00
Date of Creation: 06-09-2002
Name of Chargee: BUMIPUTRA COMMERCE BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 500,000.00
Date of Creation: 02-03-2005
Name of Chargee: BUMIPUTRA COMMERCE BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 950,000.00
Date of Creation: 22-02-2012
Name of Chargee: CIMB BANK BERHAD
Charge Status: UNSATISFIED
Total of Charge: 950,000.00
Date of Creation: 22-02-2012
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 : 31/10/10
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 : 31/10/10 31/10/09
Length of accounts
: 12 months 12 months
Profit before tax
: 275,659 207,814
Net income : 168,056 131,624
Non current assets
: 5,321,943 5,179,118
Current assets : 7,013,493 7,782,144
Total assets : 12,335,436 12,961,262
Current
liabilities : 5,478,535
6,399,698
Non current
liabilities : 2,222,844 2,095,563
Total liabilities
: 7,701,379 8,495,261
Share equity : 4,634,057 4,466,001
Retained earning :
-65,943 -233,999
Main activities :
The Subject is engaged in import and sales of textiles and garments.
Purchases
International :
India
Sales
Local : Yes
International : No
exports.
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of administrative office and warehouse.
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 :
Prepayment, D/P, Bank transfer, Credit 30-90 days
Sales Term
Local : Prepayment,
D/P, Bank 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.53.23 |
|
|
1 |
Rs.86.14 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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 SCs 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.