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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PARTNERS
HUB TEXTILES & GARMENTS (M) SDN. BHD. |
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Formerly Known As : |
PARTNERS HUB (M) SDN. BHD |
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Registered Office : |
Lot
18, Basement 2, Semua House, Jalan Bunus 6, Kuala Lumpur, Wilayah Persekutuan
53100 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.06.2008 |
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Com. Reg. No.: |
822600-U |
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Legal Form : |
Private Company Limited By Shares |
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LINE OF BUSINESS : |
IMPORT AND DISTRIBUTION OF TEXTILES AND
TEXTILE PRODUCTS LIKE TOWELS, BED SHEETS, APRONS, TABLE COVERS, NAPKINS ETC. |
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No. of Employees : |
3 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : PARTNERS HUB TEXTILES
& GARMENTS (M) SDN. BHD.
Business
address : Lot 18, Basement 2, Semua
House
Jalan Bunus 6
Town :
Kuala Lumpur
Province
: Wilayah Persekutuan
Zip/postal
code : 53100
Country
: Malaysia
Tel : +60 3 26911646 / 16
9476633
Email
: phtg.malaysia@hotmail.com
Registered
address : No. 36A, Jalan Datuk
Sulaiman
Taman Tun Dr. Ismail
Town :
Kuala Lumpur
Province
: Wilayah Persekutuan
Zip/postal
code : 60000
Country
: Malaysia
Executive Summary
Date
founded or registered : 23/06/2008
Legal
form : Private
Company Limited By Shares
Chief
executive : Fahad
Iqbal Mandavia
Issued
& paid up capital : MYR
1,000,000
Sales
turnover : MYR 2,127,622
(Non-consolidated 12 months, 31/12/2010)
Net
income : MYR
3,794 (Non-consolidated 12 months, 31/12/2010)
Total fixed
assets : MYR 1,813,594
(Non-consolidated 12 months, 31/12/2010)
Line
of business : Import
and distribution of textiles and textile products.
Staff
employed : 3 employees
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is progressing
Management
experience : Management is
modestly 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 : 23/06/2008
Legal
form : Private
Company Limited By Shares
Registration
no 822600-U
Registered
authority : Companies Commission
of Malaysia
Registry
status : Live/Active
Previous name : The
Subject was established under the name PARTNERS HUB (M) SDN. BHD. and changed
to the current style on 01-08-2008.
Change
of legal form : None
reported.
Key Management
Name :
Fahad
Iqbal Mandavia
Designation
: Managing
Director
Appointments
Name :
Marziana Binti
Mohd Mokhtar
Designation
: Director
Identification
no : 771013-07-5526
Appointment
date : 01/04/10
Address
: KG 4-2, Taman Free
School
10460 Georgetown
Pulau Pinang
Malaysia
Name :
Fahad Iqbal
Mandavia
Designation
: Director
Identification
no : AA0775801
Appointment
date : 24/06/08
Address
: Floor 11, Block H-2
Apartment 8, Menara Polo Condominium
Jalan 2/76E, Desa Pandan
55100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name :
Anwar Bin A S
Moidunny
Designation
: Company Secretary
Identification
no : 560920-06-5401
Appointment
date : 23/06/08
Address
: 1003 Jalan
Damansara
Taman Tun Dr Ismail
60000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name :
M.V. Akbar Bin
AS. Moidunny
Designation
: Company Secretary
Identification
no : 600817-06-5511
Appointment
date : 24/06/08
Address
: No. 46, Jalan
Telawi 9
Bangsar Baru
59100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Staff
employed : 3 employees
Key Advisors
Auditors
: ARI & CO.
24-4-2, Jalan 4/50, Diamond Square Bus. Centre
Off Jalan Gombak, Batu 3 1/2
53000 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
How
listed : Full List
Composition
Shareholder
name : Fahad Iqbal Mandavia
Address
: Floor 11, Block H-2
Apartment 8, Menara Polo Condominium
Jalan 2/76E, Desa Pandan
55100 Kuala Lumpur
Wilayah Persekutuan
Malaysia
No. of
shares : 490,000 Ordinary
Shares
Shareholder
name : Marziana Binti Mohd Mokhtar
Address
: KG 4-2, Taman Free
School
10460 Georgetown
Pulau Pinang
Malaysia
No. of
shares : 510,000 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
: 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 3.16 as of 28-05-2012
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 : 2,127,622 1,346,097
Profit
before tax : 9,283 5,133
Net
income : 3,794
1,428
Non
current assets : 56,810 68,783
Current
assets : 1,756,784
1,429,544
Total
assets : 1,813,594
1,498,327
Current
liabilities : 808,372
496,899
Non
current liabilities : 0 0
Total
liabilities : 808,372
496,899
Share
equity : 1,005,222
1,001,428
Retained
earning : 5,222 1,428
Main
activities : The Subject
engages in import and distribution of textiles and textile
products.
Product & services : Towels
Bed Sheets
Aprons
Table Covers
Napkins
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 retail showroom, 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) : 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, Telegraphic transfer, Credit 30-60 days
Sales Term
Local
: Prepayment, Bank transfer, D/P, 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.55.58 |
|
|
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
-- |
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.