MIRA INFORM REPORT
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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
BARATHIS MANUFACTURING (M) SDN. BHD. |
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Registered Office : |
Jalan 11/48A, Sentul Raya Boulevard,
Off Jalan Sentul, Kuala Lumpur, Wilayah Persekutuan, Zip/postal code 51000 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.12.2000 |
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Com. Reg. No.: |
534048-M |
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Legal Form : |
Private Company Limited By
Shares |
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Line of Business : |
Import, manufacturing and distributor of prayer and consumer
products. |
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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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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 : BARATHIS MANUFACTURING (M) SDN.
BHD.
Business address : No 27 & 29, Jalan Jejarum 2B/3
Seksyen
BB9
Bandar
Bukit Beruntung
Town : Rawang
Province : Selangor Darul Ehsan
Zip/postal code : 48300
Country : Malaysia
Tel : +60 3 60215329
Fax : +60 3 60215328
Registered address : No. 23-5, Tingkat 5
Jalan
11/48A
Sentul
Raya Boulevard
Off Jalan
Sentul
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 51000
Country : Malaysia
Comments : The provided address No. 1 Block TR-H, Jalan Air Panas, Off Jalan Air Keroh, 53200
Setapak, Kuala Lumpur, Wilayah Persekutuan, Malaysia is the Subject's old address.
Executive Summary
Date founded or registered : 06/12/2000
Legal form : Private Company
Limited By Shares
Chief executive : Balachandran A/L Ratnam
Issued & paid up capital
: MYR 300,000
Sales turnover : MYR
1,468,775 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 11,009 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 808,907
(Non-consolidated 12 months, 31/12/2010)
Line of business : Import, manufacturing and
distributor of prayer and consumer products.
Staff employed : 10 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
acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 06/12/2000
Legal form : Private Company Limited By
Shares
Registration no 534048-M
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Balachandran A/L Ratnam
Designation : Managing Director
Name : Thiagarajan A/L Balachandran
Designation : Director
Appointments
Name : Balachandran A/L Ratnam
Designation : Director
Identification no : 520202-01-5163
Appointment date : 06/12/00
Address : No.4, Jalan 4/5
Bandar
Baru Selayang
Fasa 2B
Off Jalan Sungai Tua
68100 Batu
Caves
Selangor
Darul Ehsan, Malaysia
Name : Thiagarajan A/L
Balachandran
Designation : Director
Identification no : 780716-05-5091
Appointment date : 06/12/00
Address : No.4, Jalan 4/5
Bandar
Baru Selayang
Fasa 2B
Off Jalan Sungai Tua
68100 Batu
Caves
Selangor
Darul Ehsan
Malaysia
Name : Ganisen A/L Sinnasamy
Designation : Company Secretary
Identification no : 580418-01-5087
Appointment date : 21/12/11
Address : 27, Jalan Ferum Lima 7/31E
40000 Shah
Alam
Selangor
Darul Ehsan
Malaysia
Staff employed : 10 employees
Key Advisors
Auditors : N.PARAM & CO
23-1,
Jalan 11/48A
Sentul Raya
Boulevard
Off Jalan
Sentul
51000
Kuala Lumpur
Malaysia
Composition
Authorized Capital : MYR 500,000
No of shares : 500,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 300,000
Paid up capital : MYR
300,000
How listed : Full List
Composition
Shareholder name : Balachandran A/L Ratnam
Address : No.4, Jalan 4/5
Bandar
Baru Selayang
Fasa 2B
Off Jalan Sungai Tua
68100 Batu
Caves
Selangor
Darul Ehsan
Malaysia
No. of shares : 216,000 Ordinary Shares
Shareholder name : Thiagarajan A/L Balachandran
Address : No.4, Jalan 4/5
Bandar
Baru Selayang
Fasa 2B
Off Jalan Sungai Tua
68100 Batu
Caves
Selangor
Darul Ehsan
Malaysia
No. of shares : 84,000 Ordinary Shares
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 : Malayan Banking Berhad (Maybank)
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: 310,000.00
Date of Creation: 28-11-2002
Name of Chargee: MALAYAN
BANKING BERHAD
Charge Status: FULLY
SATISFIED
Total of Charge: 190,000.00
Date of Creation: 08-02-2006
Name of Chargee: MALAYAN
BANKING BERHAD
Charge Status: FULLY
SATISFIED
Total of Charge: 200,000.00
Date of Creation: 15-05-2006
Name of Chargee:
BUMIPUTRA-COMMERCE 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 3.08 as of
15-05-2012
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
Profit before tax : 27,834 4,617
Net income : 11,009 3,881
Non current assets : 25,016 51,965
Current assets : 783,891 682,423
Total assets : 808,907 734,388
Current liabilities : 444,595 367,065
Non current liabilities : 0 14,020
Total liabilities : 444,595
381,085
Share equity : 364,312
353,303
Retained earning : 64,312
53,303
Main activities : The Subject is engaged in import, manufacturing and distributor of prayer and consumer
products.
Purchases
International : India
Sales
Local : Yes
International : Singapore
Property &
Assets
Premises : The Subject operates from
premises located at the verified heading address consisting of
production facilities, 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$135.9 billion as of 30 April 2012
Gross domestic product - GDP : US$ 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,
Telegraphic transfer, Credit 30-60 days
Sales Term
Local : Prepayment,
Bank transfer, Credit 30-60 days
International : Prepayment,
Telegraphic transfer, 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.54.29 |
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UK Pound |
1 |
Rs.86.61 |
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Euro |
1 |
Rs.68.87 |
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.