|
|
REGISTRATION NO.
|
:
|
62247-U
|
|
COMPANY NAME
|
:
|
POLLUTION ENGINEERINGS (M) SDN BHD
|
|
FORMER NAME
|
:
|
POLLUTION ENGINEERING SDN BHD (27/09/2006)
|
|
INCORPORATION DATE
|
:
|
10/09/1980
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL STATUS
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
MENARA HAP SENG 1 & 3, JALAN P RAMLEE, 10TH FLOOR,
50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 798, 13TH MILE JALAN BALAKONG, 43300 BALAKONG,
SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-89617999
|
|
FAX.NO.
|
:
|
03-89617629
|
|
EMAIL
|
:
|
pesb@po.jaring.my
|
|
WEB SITE
|
:
|
www.pollution-engineering.com
|
|
CONTACT PERSON
|
:
|
OH YING YING ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
74219
|
|
PRINCIPAL ACTIVITY
|
:
|
ENVIROMENTAL & WASTE WATER TREATMENT ENGINEERING
|
|
AUTHORISED CAPITAL
|
:
|
MYR 1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 1,000,000.00 DIVIDED INTO
ORDINARY SHARES 278,571 CASH AND 721,429 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 13,840,820 [2011]
|
|
NET WORTH
|
:
|
MYR 27,038,685 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
100 [2012]
|
|
BANKER (S)
|
:
|
|
ALLIANCE BANK MALAYSIA BHD
AMBANK (M) BHD
HSBC BANK MALAYSIA BHD
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
MYR 2,116,000 (USD 672,000)
|
|
|
|
|
The SC is a private limited company and is allowed to have
a minimum of one and a maximum of forty-nine shareholders. As a private
limited company, the SC must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the SC is capable of owning assets, entering into contracts, sue or
be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the SC is insolvent. The SC is governed
by the Companies Act, 1965 and the company must file its annual returns,
together with its financial statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an)
enviromental & waste water treatment engineering.
The SC is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The major shareholder(s) of
the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc
No
|
Shareholding
|
|
MR. LIEW YUAN CHIN +
|
B6-6 HAPPY MANSION, JALAN 17/13, 46400 PETALING JAYA,
SELANGOR, MALAYSIA.
|
500101-04-5293
8005745
|
634,516.00
|
|
MS. CHEONG SIEW MOOI +
|
B6-6 HAPPY MANSION, JALAN 17/13, 46400 PETALING JAYA,
SELANGOR, MALAYSIA.
|
550201-08-6100
8181693
|
365,484.00
|
|
|
|
|
---------------
|
|
|
|
|
1,000,000.00
|
|
|
|
|
============
|
+ Also Director
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. OH YING YING
|
|
Address
|
:
|
11, PINGGIRAN MINANG 2, TAMAN MINANG, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
A1952649
|
|
New IC No
|
:
|
710828-10-5176
|
|
Date of Birth
|
:
|
28/08/1971
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
14/03/2002
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. LIW CHIN KIAT
|
|
Address
|
:
|
110 JALAN WAWASAN 3/9, PUSAT BANDAR PUCHONG, 47100
PUCHONG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
791130-14-5659
|
|
Date of Birth
|
:
|
30/11/1979
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. AZIRUL SALIHIN BIN ANUAR
|
|
Address
|
:
|
437 JALAN S 17/1G, 47800 PETALING JAYA, SELANGOR,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
780208-01-5405
|
|
Date of Birth
|
:
|
08/02/1978
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MS. CHEONG SIEW MOOI
|
|
Address
|
:
|
B6-6 HAPPY MANSION, JALAN 17/13, 46400 PETALING JAYA,
SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
8181693
|
|
New IC No
|
:
|
550201-08-6100
|
|
Date of Birth
|
:
|
01/02/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
18/10/1991
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
MR. LIEW YUAN CHIN
|
|
Address
|
:
|
B6-6 HAPPY MANSION, JALAN 17/13, 46400 PETALING JAYA,
SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
8005745
|
|
New IC No
|
:
|
500101-04-5293
|
|
Date of Birth
|
:
|
01/01/1950
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
10/09/1980
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of Subject
|
:
|
OH YING YING
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
TONY LIEW YUAN CHIN
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
W K LEE & CO
|
|
Auditor' Address
|
:
|
ROOM B, 70-2 WISMA MAHAMEWAH, JALAN SUNGAI BESI, 2ND
FLOOR, 47301 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
1)
|
Company Secretary
|
:
|
MS. LAI CHEE WAH
|
|
|
IC / PP No
|
:
|
A1790078
|
|
|
New IC No
|
:
|
710106-05-5090
|
|
|
Address
|
:
|
VM 07-08, VILLAMAS APARTMENT, JALAN PIPIT, BANDAR
PUCHONG JAYA, 47100 PUCHONG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MR. LIM MING TOONG
|
|
|
IC / PP No
|
:
|
6864620
|
|
|
New IC No
|
:
|
620916-08-5727
|
|
|
Address
|
:
|
42, JALAN BK 5B/1D, BANDAR KINRARA, 47180 PUCHONG,
SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
ALLIANCE BANK MALAYSIA BHD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
HSBC BANK MALAYSIA BHD
|
|
|
|
|
|
|
4)
|
Name
|
:
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
The SC enjoys normal banking routine with above
mentioned banker(s). The SC has bank charges with above mentioned
banker(s).
|
ENCUMBRANCE 1
|
Date of Creation
|
:
|
23/01/1995
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM7,000,000.00
|
|
Description Of Property Affected
|
:
|
|
GM 191 LOT 798, MK KAJANG
|
|
|
Name & Address Of Chargee
|
:
|
|
CHUNG KHIAW BANK (MALAYSIA) BHD
|
|
BGN CHUNG KHIAW BANK, JLN RAJA LAUT, 50350 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 28/01/1995
|
|
Registered and Numbered 4 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
09/10/1995
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
O/D
|
|
Description Of Property Affected
|
:
|
|
FACILITIES AGREEMENT DATED 9.10.1995 BETWEEN THE
CHARGEE & POLLUTION ENGINEERING SDN BHD
|
|
|
Name & Address Of Chargee
|
:
|
|
MALAYSIAN FRENCH BANK BHD
|
|
MENARA MULTI PURPOSE CAPITAL SQUARE, 8 JLN MUNSHI
ABDULLAH, 7TH FLR, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 11/10/1995
|
|
Registered and Numbered 6 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
23/12/1999
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM3,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 8 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
22/03/2001
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
O/D
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 11 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of Creation
|
:
|
10/03/2004
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 12 In The Register of Charges
|
ENCUMBRANCE 6
|
Date of Creation
|
:
|
28/12/2004
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
o/d
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
ALLIANCE BANK MALAYSIA BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 13 In The Register of Charges
|
ENCUMBRANCE 7
|
Date of Creation
|
:
|
28/04/2005
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK MALAYSIA BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 14 In The Register of Charges
|
ENCUMBRANCE 8
|
Date of Creation
|
:
|
14/02/2006
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
|
GM 191 LOT 798, MK KAJANG
|
|
|
Name & Address Of Chargee
|
:
|
|
ALLIANCE BANK MALAYSIA BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 15 In The Register of Charges
|
ENCUMBRANCE 9
|
Date of Creation
|
:
|
16/10/2009
|
|
Description Of Charge
|
:
|
|
MEMO OF DEPOSIT OF FIXED DEPOSIT RECEIPT AND FIRST
PARTY LETTER OF SET-OFF
|
|
|
Amount Secured
|
:
|
RM1,000,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
AMBANK (M) BHD
|
|
BANGUNAN AMBANK GROUP, JALAN RAKA CHULAN, 22ND FLOOR,
50200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 23/10/2009
|
|
Registered and Numbered 17 In The Register of Charges
|
ENCUMBRANCE 10
|
Date of Creation
|
:
|
11/08/2010
|
|
Description Of Charge
|
:
|
|
|
Amount Secured
|
:
|
RM1,130,000.00
|
|
Description Of Property Affected
|
:
|
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
MENARA UOB, JALAN RAJA LAUT, 50350 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 16/08/2010
|
|
Registered and Numbered 18 In The Register of Charges
|
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SC
|
* We have checked through the SC in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have been
placed or assigned to us for collection since 1990. Information was provided
by third party where the debt amount can be disputed. Please check with
creditors for confirmation as alleged debts may have been paid since recorded
or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
Import Countries
|
:
|
ASIA
|
The SC refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data
we conclude that :
|
OVERALL PAYMENT HABIT
|
|
Prompt 0-30 Days
|
[
|
|
]
|
|
Good 31-60 Days
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
X
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA, MIDDLE EAST
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
|
Products manufactured
|
:
|
|
|
|
|
|
|
Services
|
:
|
|
ENVIROMENTAL & WASTE WATER TREATMENT ENGINEERING
|
|
|
|
|
|
|
Competitor(s)
|
:
|
|
KENCANA PETROLEUM BHD
|
|
RAMUNIA FABRICATORS SDN BHD
|
|
SUMATEC RESOURCES BHD
|
|
TANJUNG OFFSHORE BHD
|
|
ZELAN BHD
|
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM)
SMALL & MEDIUM ENTERPRISE
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION
(MATRADE)
|
|
|
|
|
|
Ownership of premises
|
:
|
|
|
Total Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
100
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) enviromental & waste
water treatment engineering.
The SC is one of the pioneer environmental engineering technology provider in
Malaysia, established since 1980.
The SC's major products and services include wastewater, sewage, river and
pond treatment technologies, solid waste treatment and recycling
technnologies, renewable energy and alternative fuel technologies and
industrial R&D services.
The SC's mission is to become a "One Stop Solution Center for the Recycling
and Treatment of Waste" by providing an efficient and economical
solution to meet the growing needs for a cleaner environment.
No projects found in our databank
We have checked with the Malaysian National News Agency's (BERNAMA)database,
but no latest development was noted in our investigation
Latest
fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
03-89617999
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 798, 13TH MILE JALAN BALAKONG,43300,SERI
KEMBANGAN,SELANGOR.
|
|
Current Address
|
:
|
LOT 798, 13TH MILE JALAN BALAKONG, 43300 BALAKONG,
SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted
one of the staff from the SC and she provided some information on the SC.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Increased
|
[
|
76.39%
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
<3,198.71%>
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Acceptable
|
[
|
10.72%
|
]
|
|
|
Return on Net Assets
|
:
|
Acceptable
|
[
|
13.60%
|
]
|
|
|
|
|
|
|
|
|
|
|
The increase in turnover could be due to the SC adopting
an aggressive marketing strategy.The management had succeeded in turning
the SC into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources.
The SC's management had generated acceptable return for its shareholders
using its assets.
|
|
|
|
|
|
|
|
|
|
Working Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Unfavourable
|
[
|
201
Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
109
Days
|
]
|
|
|
Creditors Ratio
|
:
|
Unfavourable
|
[
|
71
Days
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The SC's debtors
ratio was high. The SC should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the SC
taking advantage of the credit granted by its suppliers. However this may
affect the goodwill between the SC and its suppliers and the SC may
inadvertently have to pay more for its future supplies.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Favourable
|
[
|
1.18
Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.24
Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the
SC in order to assure its creditors of its ability to meet short term
obligations and the SC was in a good liquidity position. Thus, we believe
the SC is able to meet all its short term obligations as and when they fall
due.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Acceptable
|
[
|
4.63
Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.31
Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was slightly low. If there is no
sharp fall in its profit or sudden increase in the interest rates, we
believe the SC is able to generate sufficient income to service its
interest and repay the loans. The SC was lowly geared thus it had a low
financial risk. The SC was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
SC being a lowly geared company, will be able to compete better than those
companies which are highly geared in the same industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The higher turnover had helped to reduce the SC's
losses. The SC was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the SC should be able to repay its short term obligations. The SC
had an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the SC's profit, we do believe the SC is able to
generate sufficient cash flow to service its interest payment. The SC as a
lowly geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : FAIR
|
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major Economic Indicators:
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
27.73
|
28.13
|
28.35
|
28.70
|
29.10
|
|
Gross Domestic Products ( % )
|
4.6
|
<0.5>
|
7.2
|
5.5
|
5.3
|
|
Domestic Demand ( % )
|
6.9
|
2.9
|
6.3
|
4.8
|
7.6
|
|
Private Expenditure ( % )
|
7.1
|
<2.7>
|
8.1
|
7.0
|
8.7
|
|
Consumption ( % )
|
8.4
|
0.7
|
6.7
|
6.3
|
7.1
|
|
Investment ( % )
|
1.5
|
<17.2>
|
17.7
|
16.2
|
15.9
|
|
Public Expenditure ( % )
|
6.5
|
5.2
|
3.8
|
7.6
|
4.7
|
|
Consumption ( % )
|
11.6
|
3.1
|
0.2
|
8.9
|
3.0
|
|
Investment ( % )
|
0.7
|
8.0
|
2.8
|
0.6
|
7.0
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
129,563
|
89,650
|
118,356
|
116,058
|
-
|
|
Government Finance ( MYR Million )
|
<34,462>
|
<28,450>
|
<40,482>
|
<45,511>
|
<43,021>
|
|
Government Finance to GDP / Fiscal Deficit ( % )
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
|
<4.7>
|
|
Inflation ( % Change in Composite CPI)
|
<3.3>
|
<5.2>
|
5.1
|
3.1
|
-
|
|
Unemployment Rate
|
3.7
|
4.5
|
3.9
|
3.3
|
-
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion )
|
388
|
331
|
329
|
415
|
-
|
|
Average Risk-Weighted Capital Adequacy Ratio ( % )
|
1.91
|
2.87
|
2.20
|
3.50
|
-
|
|
Average 3 Months of Non-performing Loans ( % )
|
13.24
|
11.08
|
15.30
|
14.80
|
-
|
|
Average Base Lending Rate ( % )
|
6.72
|
5.53
|
6.30
|
6.60
|
-
|
|
Business Loans Disbursed( % )
|
11.6
|
10.5
|
14.7
|
15.3
|
-
|
|
Foreign Investment ( MYR Million )
|
23,261.4
|
22,156.8
|
22,517.9
|
23,546.1
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
41,599
|
41,578
|
44,148
|
-
|
-
|
|
Registration of New Companies ( % )
|
<4.0>
|
<0.1>
|
6.2
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
27,992
|
39,075
|
25,585
|
-
|
-
|
|
Liquidation of Companies ( % )
|
23.7
|
39.6
|
<34.5>
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
269,866
|
312,581
|
271,414
|
-
|
-
|
|
Registration of New Business ( % )
|
-
|
-
|
-
|
-
|
-
|
|
Business Dissolved ( No. )
|
18,885
|
19,345
|
19,738
|
-
|
-
|
|
Business Dissolved ( % )
|
<7.6>
|
2.4
|
2.0
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
497.5
|
486.3
|
543.6
|
363.0
|
-
|
|
Cellular Phone Subscribers ( Million )
|
25.1
|
30.1
|
32.8
|
35.3
|
-
|
|
Tourist Arrival ( Million Persons )
|
21.5
|
23.6
|
24.6
|
25.3
|
-
|
|
Hotel Occupancy Rate ( % )
|
68.0
|
58.0
|
63.0
|
51.3
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
17.1
|
12.8
|
14.1
|
15.6
|
-
|
|
Bad Cheque Offenders (No.)
|
34,834
|
36,667
|
33,568
|
27,208
|
-
|
|
Individual Bankruptcy ( No.)
|
13,907
|
16,228
|
18,119
|
16,155
|
-
|
|
Individual Bankruptcy ( % )
|
5.1
|
16.7
|
11.7
|
<10.8>
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Agriculture
|
3.6
|
0.4
|
2.1
|
4.7
|
4.1
|
|
Palm Oil
|
7.0
|
<1.1>
|
<3.4>
|
7.3
|
-
|
|
Rubber
|
<1.1>
|
<19.8>
|
9.9
|
6.4
|
-
|
|
Forestry & Logging
|
<1.5>
|
<5.9>
|
<3.3>
|
<4.7>
|
-
|
|
Fishing
|
4.0
|
5.5
|
5.6
|
2.8
|
-
|
|
Other Agriculture
|
5.9
|
9.0
|
7.9
|
8.5
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
393.0
|
413.7
|
508.4
|
634.1
|
-
|
|
% of Industry Non-Performing Loans
|
<2.0>
|
1.3
|
2.1
|
3.2
|
-
|
|
|
|
|
|
|
|
|
Mining
|
<0.8>
|
<3.8>
|
0.2
|
<2.4>
|
2.5
|
|
Oil & Gas
|
12.7
|
2.1
|
0.5
|
<1.7>
|
-
|
|
Other Mining
|
-
|
-
|
-
|
-
|
-
|
|
Industry Non-performing Loans ( MYR Million )
|
36.0
|
44.2
|
49.7
|
46.5
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
1.3
|
<9.4>
|
11.4
|
5.6
|
4.5
|
|
Exported-oriented Industries
|
2.7
|
<19.0>
|
12.1
|
2.8
|
-
|
|
Electrical & Electronics
|
2.4
|
<30.3>
|
28.4
|
<4.9>
|
-
|
|
Rubber Products
|
4.2
|
<10.1>
|
25.3
|
15.4
|
-
|
|
Wood Products
|
<6.0>
|
<24.1>
|
20.1
|
<7.3>
|
-
|
|
Textiles & Apparel
|
1.9
|
<19.5>
|
<0.4>
|
14.8
|
-
|
|
Domestic-oriented Industries
|
9.9
|
<9.8>
|
16.3
|
6.3
|
-
|
|
Food, Beverages & Tobacco
|
9.5
|
0.2
|
3.0
|
4.2
|
-
|
|
Chemical & Chemical Products
|
1.4
|
<7.7>
|
16.2
|
5.6
|
-
|
|
Plastic Products
|
6.5
|
<9.1>
|
2.4
|
3.8
|
-
|
|
Iron & Steel
|
16.8
|
<32.7>
|
29.3
|
2.4
|
-
|
|
Fabricated Metal Products
|
14.7
|
<2.5>
|
14.9
|
25.2
|
-
|
|
Non-metallic Mineral
|
8.3
|
<15.5>
|
20.2
|
16.3
|
-
|
|
Transport Equipment
|
27.1
|
<13.5>
|
36.5
|
<9.4>
|
-
|
|
Paper & Paper Products
|
8.6
|
<5.0>
|
18.7
|
15.6
|
-
|
|
Crude Oil Refineries
|
7.8
|
0.2
|
<11.4>
|
9.3
|
-
|
|
Industry Non-Performing Loans ( MYR Million )
|
5,729.4
|
6,007.3
|
6,217.5
|
6,537.2
|
-
|
|
% of Industry Non-Performing Loans
|
16.8
|
18.3
|
23.8
|
25.7
|
-
|
|
|
|
|
|
|
|
|
Construction
|
2.1
|
5.8
|
5.1
|
4.4
|
7.0
|
|
Industry Non-Performing Loans ( MYR Million )
|
4,149.8
|
3,241.8
|
4,038.5
|
3,856.9
|
-
|
|
% of Industry Non-Performing Loans
|
12.2
|
9.9
|
10.7
|
10.2
|
-
|
|
|
|
|
|
|
|
|
Services
|
7.3
|
2.6
|
6.5
|
6.4
|
6.5
|
|
Electric, Gas & Water
|
5.0
|
0.4
|
8.5
|
5.6
|
4.8
|
|
Transport, Storage & Communication
|
7.8
|
1.6
|
7.7
|
6.5
|
7.3
|
|
Wholesale, Retail, Hotel & Restaurant
|
10.0
|
2.8
|
4.7
|
5.2
|
6.9
|
|
Finance, Insurance & Real Estate
|
9.2
|
3.8
|
6.1
|
6.3
|
6.5
|
|
Government Services
|
8.6
|
2.0
|
6.7
|
7.6
|
5.6
|
|
Other Services
|
5.9
|
4.4
|
4.2
|
5.4
|
5.7
|
|
Industry Non-Performing Loans ( MYR Million )
|
8,281.4
|
6,631.3
|
7,384.6
|
6,825.2
|
-
|
|
% of Industry Non-Performing Loans
|
24.3
|
20.2
|
25.7
|
23.4
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary
|
|
|
|
|
|
|
** Forecast
|
|
|
|
|
|
|
# Based On Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
|
MSIC CODE
|
|
74219 : Other architectural and engineering activities
and related technical consultancy service n.e.c.
|
|
|
|
|
INDUSTRY :
|
CONSTRUCTION
|
|
|
|
|
|
|
The construction sector will drive the national economy in 2012 by a
budgeted growth of 7%, much has to be done now to meet the target,
especially when the Malaysian construction industry is set to grow by a
bullish RM92 billion in 2012 from RM85 billion in 2010. Timely awards and
implementation of projects as per the 10th Malaysia Plan (10MP) and the
Economic Transformation Programme (ETP) from now will contribute positively
to the growth in 2012, as the projects require a gestation period in order
to generate impact to the economy.
|
|
The Master Builders Association of Malaysia (MBAM) is concerned that the
construction sector may underperform in 2011 if the sector's 4Q 2011
performance does not improve substantially. The construction sector had
seen only 3% growth in 3Q 2011. The sector grew by only 3.8% and 0.6% in
the first two quarters of 2011 respectively. The overall growth for 2010
was 5.3%.
|
|
Major building material producers, such as cement and steel manufacturers,
have been reporting lesser demands for the year to date. For projects
involving foreign direct investments (FDI) and domestic investors, the
timely issue of construction permits will further improve confidence of the
investors.
|
|
Rising building material costs are haunting construction companies again.
Local builders say construction costs may rise at a faster pace than
earnings, prompting players to seek greater liberty to import building
materials and equipment at lower tariffs. Construction cost could rise more
than 15% in 2012. For now, local builders can import steel products and cement
at zero import duties. But players are lamenting that import taxes of 30%
for other materials such as marble and tiles, are on the high side.
|
|
Rising expenses were stifling builders' profits as players were subject to
fixed-price contracts. There would be cost overruns, delays and a higher
risk of project failures when builders were unable to absorb the cost
increases.
|
|
A planned and progressive award of projects will reduce any abrupt increase
in demands for building materials and manpower which may jeopardise the
targeted growth due to temporary shortages in supply as well as preventing
unnecessary price increases which will burden contractors. The imminent
enactment of the proposed Construction Industry Payment and Adjudication
Act (CIPAA) will make the industry more healthy and sustainable for all
players of the industry.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION
& RECOMMENDATION
|
|
Established in 1980, the SC is principally engaged in
the environmental and waste water treatment engineering. With its long
presence in the industry coupled with its vast experiences in the business,
the SC should have built up a certain goodwill with its client over times.
At present, the paid up capital of the SC stands at RM1 million. The
capital standing of the SC is fair. With an adequate share capital, the SC
has the potential of expanding its business in future.
|
|
Throughout its years of establishment, the SC has built up an extensive
network in the market. In an effort to capture a higher market shares, the
SC has penetrated into the global market. Its customer's base has extended
from Malaysia to Asia and Middle East countries. Such a wide marketing
network has lowered the SC's commercial risk. As a whole, the business
prospect of the SC remains bright. The SC's management is headed by
Director, Oh Ying Ying and it has a workforce of about 100 employees in its
operation. Its overall management capability is considered average.
|
|
During the financial year under review, the SC's turnover continued on an
upward momentum, reaching RM13.84 million in 2011. Correspondingly, its
pre-tax profit rose to RM2.89 million. This was achieved on the back of
stronger performance of higher turnover. Return on shareholders' funds of
the SC was at an acceptable range which indicated that the management was
efficient in utilising its funds to generate income. The SC managed to
maintain an adequate liquidity level, indicating that the SC has the
ability to meet its financial obligations. Moreover, being a lowly geared
company, the SC is exposed to low financial risk as it is mainly dependent
on its internal funds to finance its business needs.
|
|
The SC might be exposed to the forex risk as some of its raw materials are
sourced from overseas suppliers. With its long presence in the market, it
should have developed a strong supplier. Thus, it eliminates the risk of
dependency on deliveries from a number of key suppliers and insufficient
quantities of its raw materials.
|
|
The SC's payment habit is average. With its adequate working capital, the
SC should be able to pay its short term debts.
|
|
The industry shows an upward trend and this trend is likely to sustain in
the near future. Moreover, the continuous efforts implemented by the
government to boost the economic growth will further enhance the industry.
With the promising outlook of the industry performance, the SC business
potential should be favourable.
|
|
Based on the above condition, we recommend that credit be granted to the SC
promptly.
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS)
|
|
POLLUTION
ENGINEERINGS (M) SDN BHD
|
|
Financial Year End
|
30/06/2011
|
30/06/2010
|
|
Months
|
12
|
12
|
|
Consolidated Account
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
|
Currency
|
MYR
|
MYR
|
|
|
|
|
|
TURNOVER
|
13,840,820
|
7,846,872
|
|
|
----------------
|
----------------
|
|
Total Turnover
|
13,840,820
|
7,846,872
|
|
Costs of Goods Sold
|
<8,105,328>
|
<4,844,352>
|
|
|
----------------
|
----------------
|
|
Gross Profit
|
5,735,492
|
3,002,520
|
|
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
2,898,127
|
<93,527>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
2,898,127
|
<93,527>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
2,898,127
|
<93,527>
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously reported
|
15,150,806
|
15,244,333
|
|
|
----------------
|
----------------
|
|
As restated
|
15,150,806
|
15,244,333
|
|
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
18,048,933
|
15,150,806
|
|
DIVIDENDS - Ordinary (paid & proposed)
|
<1,500,000>
|
-
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
16,548,933
|
15,150,806
|
|
|
=============
|
=============
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L)
|
|
|
|
Bank overdraft
|
710,611
|
660,576
|
|
Hire purchase
|
74,681
|
15,937
|
|
Term loan / Borrowing
|
12,883
|
13,490
|
|
|
----------------
|
----------------
|
|
|
798,175
|
690,003
|
|
POLLUTION
ENGINEERINGS (M) SDN BHD
|
|
ASSETS EMPLOYED:
|
|
|
|
FIXED ASSETS
|
16,561,040
|
16,958,528
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
Development properties/expenditure
|
6,569,833
|
6,532,141
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
6,569,833
|
6,532,141
|
|
|
|
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
23,130,873
|
23,490,669
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
Stocks
|
1,045,209
|
634,920
|
|
Trade debtors
|
4,114,881
|
3,936,446
|
|
Other debtors, deposits & prepayments
|
2,207,421
|
1,773,293
|
|
Short term deposits
|
1,354,225
|
1,120,555
|
|
Amount due from related companies
|
5,636,191
|
7,923,771
|
|
Cash & bank balances
|
6,198,752
|
1,148,890
|
|
Amount owing by customer
|
160,428
|
160,428
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
20,717,107
|
16,698,303
|
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
43,847,980
|
40,188,972
|
|
|
=============
|
=============
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Trade creditors
|
1,579,548
|
2,425,654
|
|
Other creditors & accruals
|
166,909
|
238,029
|
|
Hire purchase & lease creditors
|
20,713
|
57,239
|
|
Bank overdraft
|
8,289,546
|
8,867,376
|
|
Short term borrowings/Term loans
|
20,901
|
110,245
|
|
Bill & acceptances payable
|
5,070,699
|
1,935,000
|
|
Amounts owing to director
|
1,516,613
|
824,570
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
16,664,929
|
14,458,113
|
|
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
4,052,178
|
2,240,190
|
|
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
27,183,051
|
25,730,859
|
|
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
1,000,000
|
1,000,000
|
|
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
1,000,000
|
1,000,000
|
|
|
|
|
|
RESERVES
|
|
|
|
Capital reserve
|
9,489,752
|
9,489,752
|
|
Retained profit/(loss) carried forward
|
16,548,933
|
15,150,806
|
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
26,038,685
|
24,640,558
|
|
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
27,038,685
|
25,640,558
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
Long term loans
|
-
|
16,022
|
|
Hire purchase creditors
|
144,366
|
74,279
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
144,366
|
90,301
|
|
|
----------------
|
----------------
|
|
|
27,183,051
|
25,730,859
|
|
|
=============
|
=============
|
|
|
|
|
|
POLLUTION
ENGINEERINGS (M) SDN BHD
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
7,552,977
|
2,269,445
|
|
Net Liquid Funds
|
<736,569>
|
<6,597,931>
|
|
Net Liquid Assets
|
3,006,969
|
1,605,270
|
|
Net Current Assets/(Liabilities)
|
4,052,178
|
2,240,190
|
|
Net Tangible Assets
|
27,183,051
|
25,730,859
|
|
Net Monetary Assets
|
2,862,603
|
1,514,969
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Borrowings
|
8,475,526
|
9,125,161
|
|
Total Liabilities
|
16,809,295
|
14,548,414
|
|
Total Assets
|
43,847,980
|
40,188,972
|
|
Net Assets
|
27,183,051
|
25,730,859
|
|
Net Assets Backing
|
27,038,685
|
25,640,558
|
|
Shareholders' Funds
|
27,038,685
|
25,640,558
|
|
Total Share Capital
|
1,000,000
|
1,000,000
|
|
Total Reserves
|
26,038,685
|
24,640,558
|
|
LIQUIDITY (Times)
|
|
|
|
Cash Ratio
|
0.45
|
0.16
|
|
Liquid Ratio
|
1.18
|
1.11
|
|
Current Ratio
|
1.24
|
1.15
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
201
|
333
|
|
Debtors Ratio
|
109
|
183
|
|
Creditors Ratio
|
71
|
183
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0.31
|
0.36
|
|
Liabilities Ratio
|
0.62
|
0.57
|
|
Times Interest Earned Ratio
|
4.63
|
0.86
|
|
Assets Backing Ratio
|
27.18
|
25.73
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
20.94
|
<1.19>
|
|
Net Profit Margin
|
20.94
|
<1.19>
|
|
Return On Net Assets
|
13.60
|
2.32
|
|
Return On Capital Employed
|
10.41
|
1.72
|
|
Return On Shareholders' Funds/Equity
|
10.72
|
<0.36>
|
|
Dividend Pay Out Ratio (Times)
|
0.52
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
|
Contingent Liabilities
|
0
|
0
|
|