MIRA INFORM REPORT
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Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PR FOUNDRY CHEMICALS AND TRADING SDN. BHD. |
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Registered Office : |
No. 40-B, 2nd Floor, Jalan Lumut, Damai Kompleks, Kuala Lumpur, Wilayah Persekutuan, Zip/postal code 50400 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
17.12.2004 |
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Com. Reg. No.: |
675638-H |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Subject was engaged in import and distribution of foundry chemicals and equipments |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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Payment
Behaviour : |
Unknown |
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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 : PR FOUNDRY CHEMICALS AND TRADING
SDN. BHD.
Business address : No 28-1A, Jalan Raya Barat
Town : Klang
Province : Selangor Darul Ehsan
Zip/postal code : 41000
Country : Malaysia
Tel : +60 3 33742012 / 12 3245438
Fax : +60 3 33745012
Email : paramjothy@hotmail.com
Registered address : No. 40-B, 2nd Floor
Jalan Lumut, Damai Kompleks
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50400
Country : Malaysia
Comments : We contacted the Subject through the contact number +60 3 33742012 unfortunately the
number is no longer valid. The mobile number +60 12 3245438 belongs to the Managing Director of the Subject Mr. Paramjothy A/L Kandiah and he has advised that the Subject has ceased operations.
Executive Summary
Date founded or registered : 17/12/2004
Legal form : Private Company
Limited By Shares
Chief executive : Paramjothy A/L Kandiah
Issued & paid up capital
: MYR 380,000
Sales turnover : MYR
1,087,280 (Non-consolidated 12 months, 31/12/2009)
Net income : MYR -63,800
(Non-consolidated 12 months, 31/12/2009)
Total fixed assets : MYR 1,021,765
(Non-consolidated 12 months, 31/12/2009)
Line of business : Ceased operations.
Staff employed : Nil (Subject)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
ceased
Management experience : Management is inadequately experienced
Financial performance : Financial performance is poor
Organization structure : Organizational structure is flawed
Detrimental : Serious detrimental records found
Registry Data
Registration date : 17/12/2004
Legal form : Private Company Limited By
Shares
Registration no 675638-H
Registered authority : Companies Commission of Malaysia
Registry status : Inactive
Previous name : None reported.
Change of legal form : None reported.
Comments : The Subject has ceased it's
operations.
Key Management
Name : Paramjothy A/L Kandiah
Designation : Managing Director
Appointments
Name : Paramjothy A/L Kandiah
Designation : Director
Identification no : 540803-08-5763
Appointment date : 17/12/04
Address : No. 557 Jalan 17/20
46400
Petaling Jaya
Selangor
Darul Ehsan
Malaysia
Name : Ruthiran A/L Paramjothy
Designation : Director
Identification no : 831230-14-5203
Appointment date : 17/12/04
Address : No. 557 Jalan 17/20
46400
Petaling Jaya
Selangor
Darul Ehsan
Malaysia
Name : Subramaniam A/L
Kandasamy
Designation : Company Secretary
Identification no : 430228-08-5259
Appointment date : 17/12/04
Address : No 9, Jalan Sibu 7
Taman
Wahyu
Jalan Ipoh
68100
Kuala Lumpur
Wilayah
Persekutuan
Malaysia
Staff employed : Nil (Subject)
Key Advisors
Auditors : MARAN & CO
No.109,
2nd Floor
Pusat
Perniagaan NBC
Batu 1 1/2,
Jalan Meru
41050
Klang
Selangor
Darul Ehsan
Malaysia
Composition
Authorized Capital : MYR 500,000
No of shares : 500,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 380,000
Paid up capital : MYR
380,000
How listed : Full List
Composition
Shareholder name : Paramjothy A/L Kandiah
Address : No. 557 Jalan 17/20
46400
Petaling Jaya
Selangor
Darul Ehsan
Malaysia
No. of shares : 285,000 Ordinary Shares
Shareholder name : Ruthiran A/L Paramjothy
Address : No. 557 Jalan 17/20
46400
Petaling Jaya
Selangor
Darul Ehsan
Malaysia
No. of shares : 45,000 Ordinary Shares
Shareholder name : Eugen Robert Wohlgemuth
Address : Malaysia
No. of shares : 25,000 Ordinary Shares
Shareholder name : Tehna Bana Sitepu
Address : Malaysia
No. of shares : 25,000 Ordinary Shares
Structure
Related
companies and corporate affiliations comments : None Reported
Bank Details
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: 175,000.00
Date of Creation: 15-01-2007
Name of Chargee: MALAYAN
BANKING BERHAD
Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE
Date of Creation: 14-04-2010
Name of Chargee: MALAYAN
BANKING 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 : 31/12/09
Type of accounts : Full audited
Currency : Malaysia, Ringgit
(MYR)
Exchange rate : 1 USD = MYR 3.16 as of
28-05-2012
Summarized
Financial Information
Consolidation type : Non Consolidated
Currency : Malaysia,
Ringgit (MYR)
Denomination : (x1) One
Date of financial year end : 31/12/09
Length of accounts : 12 months
Sale turnover / Income : 1,087,280
Profit before tax : -80,282
Net income : -63,800
Non current assets : 75,113
Current assets : 946,652
Total assets : 1,021,765
Current liabilities : 839,965
Non current liabilities : 36,991
Total liabilities : 876,956
Share equity : 144,809
Retained earning : -235,191
Comments :
The Subject latest financial
information is not available as the Subject has ceased it's operation. Furthermore,
comparative financial information is not available at the
registry.
Main activities : The Subject has ceased it's
operations. The Subject was previously engaged in import
and distribution of foundry chemicals and equipments.
Purchases
Local : None reported.
International : None reported.
Sales
Local : None reported.
International : None reported.
Property &
Assets
Premises : The Subject has ceased it's
operations. The Subject was previously operating from
premises located at the verified heading address consisting of
administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$136.1 billion as of 14 May 2012
Gross domestic product - GDP : US$ 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
Local : None
International : None
Sales Term
Local : None
International : None
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.55.26 |
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UK Pound |
1 |
Rs.86.80 |
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Euro |
1 |
Rs.69.63 |
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.