MIRA INFORM REPORT
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Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PK PARI SDN. BHD |
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Registered Office : |
54A-1, Jalan Sultan Ismail, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.03.2003 |
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Com. Reg. No.: |
607961-K |
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Legal Form : |
Private Company Limited By
Shares |
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Line of Business : |
Import & sales of garments, apparels and fashion wear |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : PK PARI SDN. BHD.
Business address : Lot 301A, 3rd Floor
Komplek
Campbell
Jalan Dang
Wangi
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50100
Country : Malaysia
Tel : +60 3 26913193
Fax : +60 3 26913191
Email : pkpari@ymail.com
Registered address : 54A-1, Jalan Sultan Ismail
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50250
Country : Malaysia
Executive Summary
Date founded or registered : 05/03/2003
Legal form : Private Company
Limited By Shares
Chief executive : Piaro Gurmej Singh
Issued & paid up capital
: MYR 1,000,000
Sales turnover : MYR
5,690,884 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 12,168
(Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 3,412,783
(Non-consolidated 12 months, 31/12/2010)
Line of business : Import & sales of
garments, apparels and fashion wear.
Staff employed : 10
employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is modestly experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 05/03/2003
Legal form : Private Company Limited By
Shares
Registration no 607961-K
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Piaro
Gurmej Singh
Designation
: Managing Director
Appointments
Name : Piaro Gurmej Singh
Designation : Director
Identification no : 610801-12-5996
Appointment date : 05/03/03
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
Name : Paramjit Singh
Designation : Director
Identification no : E0076422
Appointment date : 05/03/03
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
Name : Harneet Sabharwal
Designation : Director
Identification no : E1950388
Appointment date : 14/10/08
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
Name : Ravneet Kaur
Designation : Director
Identification no : Z1800118
Appointment date : 14/10/08
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit Rahman
Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
Name : Lim Chin Bee
Designation : Company Secretary
Identification no : 650116-08-5494
Appointment date : 05/03/03
Address : No 31 Jalan Budiman 3/3
Taman
Putra Budiman
43200
Balakong
Selangor
Darul Ehsan
Malaysia
Staff employed : 10 employees
Key Advisors
Auditors : LAI MIN PIN & CO.
54A, Jalan
Sultan Ismail
50250
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Composition
Authorized Capital : MYR 1,000,000
No of shares : 1,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 1,000,000
Paid up capital : MYR 1,000,000
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : Piaro Gurmej Singh
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
No. of shares : 515,000 Ordinary Shares
Shareholder name : Paramjit Singh
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
No. of shares : 185,000 Ordinary Shares
Shareholder name : Harneet Sabharwal
Address : 22 Jalan BRP 2/1K
Ascort
Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
No. of shares : 150,000 Ordinary Shares
Shareholder name : Ravneet Kaur
Address : 22 Jalan BRP 2/1K
Ascort Hill
Bukit
Rahman Putra
40150 Shah
Alam
Selangor
Darul Ehsan
Malaysia
No. of shares : 150,000 Ordinary Shares
RELATED COMPANIES & CORPORATE
AFFILIATIONS
Structure
Related
companies and corporate affiliations comments : None Reported
Bank Details
Name of bank : Malayan Banking 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 : 31/12/10
Type of accounts : Full audited
Currency : Malaysia,
Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.04 as of
04-05-2012
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 : 5,690,884 2,617,409
Profit before tax : 28,634 42,404
Net income : 12,168 31,256
Non current assets : 759,520 274,972
Current assets : 2,653,263 1,610,206
Total assets : 3,412,783
1,885,178
Current liabilities : 1,720,807
699,014
Non current liabilities : 643,825
150,181
Total liabilities : 2,364,632 849,195
Share equity : 1,048,151
1,035,983
Retained earning : 48,151
35,983
Main activities : The Subject is engaged in retail sales and wholesale of fabrics, garments, apparels and fashion
wear.
Purchases
International : India, Pakistan, Indonesia, Bangladesh,
China
Sales
Local : Yes
International : No exports.
Property &
Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of
administrative office, warehouse and retail shop.
Branches : In addition, the Subject
operates from branch retail shops located at:
Lot 144,
Jln Tuanku Abdul Rahman
50100
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Tel: +60 3
26941122
Lot No.
13, 15, & 17 Jln SBBC 5
Sungai
Besar Business Center
45300
Sungai Besar
Selangor
Darul Ehsan
Malaysia
Tel: +60 3
32247678
Lot No.
1-12G & Lot 1-22G
Complex
Sungai Buloh
No 2, Bdr
Baru Sungai Buloh
Sec. U20,
40160 Shah Alam
Selangor
Darul Ehsan
Malaysia
Tel: +60 3
61413511
Lot No.
20093. P.T. No. 1612 &
Lot
20094,P.T. No 1613,
Seksyen 20
Bandar Kuala Selangor
45000
Kuala Selangor
Selangor
Darul Ehsan
Malaysia
Tel: +60 3
32897506
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) : 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 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%,
HongKong 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, Bank
transfer, D/P, Credit 30-60 days
Sales Term
Local : Prepayment,
Bank transfer, D/P, Credit 30-60 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.24 |
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UK Pound |
1 |
Rs.86.14 |
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Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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 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.