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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ROBIN RESOURCES ( |
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Registered Office : |
No.1 Jalan Industri 5 |
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Country : |
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|
|
Financials (as on) : |
30.06.2011 (Summarized) |
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|
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Date of Incorporation : |
07.02.1994 |
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Com. Reg. No.: |
289258-U |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Manufacturer and distributor of medium density fibreboard (MDF). |
|
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No. of Employees : |
307 employees (Subject): 412 employees (Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister
NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with strained government finances, has
forced Kuala Lumpur to begin to reduce government subsidies. The government is
also trying to lessen its dependence on state oil producer Petronas. The oil
and gas sector supplies more than 40% of government revenue. The central bank
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia''s exposure to riskier financial instruments and
the global financial crisis. Nevertheless, Malaysia could be vulnerable to a
fall in commodity prices or a general slowdown in global economic activity
because exports are a major component of GDP. In order to attract increased
investment, NAJIB has raised possible revisions to the special economic and
social preferences accorded to ethnic Malays under the New Economic Policy of
1970, but he has encountered significant opposition, especially from Malay
nationalists and other vested interests.
Source : CIA
Verified Address
Subject name : ROBIN RESOURCES (MALAYSIA) SDN. BHD.
Business address : No.1 Jalan Industri 5
Taman Perindustrian Temerloh
Town : Mentakab
Province : Pahang Darul Makmur
Zip/postal code : 28400
Country : Malaysia
Tel : +60 9 2719000
Fax : +60 9 2719100
Website : www.robinmdf.com
Registered address : No.1 Jalan Industri 5
Taman Perindustrian Temerloh
Town : Mentakab
Province : Pahang Darul Makmur
Zip/postal code : 28400
Country : Malaysia
Executive Summary
Date founded or registered : 07/02/1994
Legal form : Private Company Limited By Shares
Chief executive : Chua Phau Tee
Issued & paid up capital : MYR 61,000,000
Sales turnover : MYR 186,241,986 (Consolidated 12 months, 30/06/2011)
Net income : MYR 10,343,460 (Consolidated 12 months, 30/06/2011)
Total fixed assets : MYR 182,002,577 (Consolidated 12 months, 30/06/2011)
Line of business : Manufacturer and distribtor of medium density fibreboard (MDF).
Staff employed : 307 employees (Subject): 412 employees (Group)
Registry Data
Registration date : 07/02/1994
Legal form : Private Company Limited By Shares
Registration no 289258-U
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Chua Phau Tee
Designation : Managing Director
Name : Teoh Cheng Kang
Designation : General Manager
Name : Mok Yow Kong
Designation : Financial Manager
Appointments
Name : Loh Ju Fern
Designation : Alternate Director
Identification no : 2006516
Appointment date : 23/02/94
Address : 9 Palm Road
Singapore 456444
Singapore
Name : Peter Loh Pie Teh
Designation : Director
Identification no : S0053966Z
Appointment date : 08/04/02
Address : 32 Cairnhill Road
#04-02 Silver Tower
Singapore 229657
Singapore
Name : Robby Loh Tse Kang
Designation : Director
Identification no : S0074304F
Appointment date : 07/02/94
Address : 5 Avon Road
Singapore 439783
Singapore
Name : Chua Phau Tee D
esignation : Director
Identification no : S0570703Z
Appointment date : 22/08/94
Address : C/o ROBIN RESOURCES (MALAYSIA) SDN. BHD.
No.1 Jalan Industri 5
Taman Perindustrian Temerloh
28400 Mentakab Pahang Darul Makmur Malaysia
Name : Teoh Cheng Kang
Designation : Director
Identification no : S2004888C
Appointment date : 22/08/94
Address : C/o ROBIN RESOURCES (MALAYSIA) SDN. BHD.
No.1 Jalan Industri 5
Taman Perindustrian Temerloh
28400 Mentakab Pahang Darul Makmur Malaysia
Name : Jason Loh Huai Chieh
Designation : Director
Identification no : S7712768B
Appointment date : 22/09/10
Address : 5 Avon Road
Singapore 439783
Singapore
Name : Eng Bee Hong
Designation : Company Secretary
Identification no : 570809-71-5006
Appointment date : 07/02/94
Address : 23 Jalan SS 26/5
Taman Mayang Jaya
47301 Petaling Jaya Selangor Darul Ehsan Malaysia
Staff employed : 307 employees (Subject): 412 employees (Group)
Key Advisors
Auditors : RSM ROBERT TEO, KUAN & CO
1st Floor, Wisma RKT, Block A No. 2, Jalan Raja Abdullah
50300 Kuala Lumpur
Malaysia
Composition
Authorized Capital : MYR 100,000,000
No of shares : 100,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 61,000,000
Paid up capital : MYR 61,000,000
Changed in capital : The Subject increased its share capital from MYR 50,000,000 to MYR
100,000,000 on 09-11-1994.
How listed : Full List
Composition
Shareholder name : ROBINA RESOURCES (PTE) LTD
Address : 80 Marine Parade Road
#12-08 Parkway Parade
Singapore 449269
Singapore
No. of shares : 61,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : ROSINA INC.
Affiliation type : Ultimate Holding Company
Address : Liberia
Name : ROBINA RESOURCES (PTE) LTD
Affiliation type : Parent Company
Address : 80 Marine Parade Road
#12-08 Parkway Parade
Singapore 449269
Singapore
Name : ROBINA PLANTATION SDN. BHD.
Affiliation type : Wholly-owned Subsidiary
Address : No.1 Jalan Industri 5
Taman Perindustrian Temerloh
28400 Mentakab Pahang Darul Makmur Malaysia
Name : ROBINA FLOORING SDN. BHD.
Affiliation type : Wholly-owned Subsidiary
Address : No.1 Jalan Industri 5
Taman Perindustrian Temerloh
28400 Mentakab Pahang Darul Makmur Malaysia
Comments : Manufacturer of laminate flooring.
Name : ROBINA WOOD INC.
Affiliation type : Associate
Address : United States
Comments : Marketing of laminated flooring.
Name : ROBINA SINDO INVESTMENT (PTE) LTD
Affiliation type : Associate
Address : 80 Marine Parade Road
#12-08 Parkway Parade
Singapore 449269
Singapore
Bank Details
Name of bank : Ambank (M) 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: 128,000,000.00
Date of Creation: 16-03-1995
Name of Chargee: MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD
Charge Status: FULLY SATISFIED
Total of Charge: 86,738,000.00
Date of Creation: 18-09-2001
Name of Chargee: ARAB MALAYSIAN MERCHANT BANK BERHAD Charge Status: FULLY SATISFIED
Total of Charge: 49,580,000.00
Date of Creation: 17-03-2005
Name of Chargee: 1. AMBANK (M) BERHAD Charge Status: PARTLY SATISFIED
Total of Charge: 66,080,000.00
Date of Creation: 08-04-2005
Name of Chargee: AMBANK (M) BERHAD Charge Status: PARTLY SATISFIED
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 : 30/06/11
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate :
1 USD = MYR 3.10 as of 18-01-2012
Summarized Financial
Information
Consolidation type : Consolidated Consolidated
Currency : Malaysia, Ringgit (MYR) Malaysia, Ringgit (MYR) Denomination : (x1) One (x1) One
Date of financial year end : 30/06/11 30/06/10
Length of accounts : 12 months 12
months
Sale turnover / Income : 186,241,986 221,902,368
Gross profit : 43,544,428 61,645,611
Operating profit : 10,855,642 58,723,864
Profit before tax : 10,855,642 56,542,744
Net income : 10,343,460 61,966,463
Non current assets : 72,094,762 79,149,426
Current assets : 109,907,815 114,078,763
Inventories : 35,153,628 38,938,172
Total assets : 182,002,577 193,228,189
Current liabilities : 27,346,937 28,995,009
Non current liabilities : 2,541,000 5,992,000
Total liabilities : 29,887,937 34,987,009
Share equity : 152,114,640 158,241,180
Reserve : 91,114,640 97,241,180
Comments :
The
consolidated financial information above relates to the Subject and its
subsidiaries.
Main activities : The Subject is engaged in manufacturing of medium density fiberboard (MDF).
The Subject's factory uses wood chips processed mainly from old rubber trees as the base raw material.
Its timber is suitable for making of furniture and its wood chips is ideal for processing into fibreboard. This new application is ecologically friendly.
The Subject's plant is worth RM 189.0 million is located on a 57 acres freehold land in Mentakab (within the state of Pahang, Malaysia) has a current annual production capacity of 175,000 cubic meters.
The Subject medium density fibreboard can be used to make furniture systems, kitchen cabinets, bedroom sets, dining sets, TV racks, speaker boxes, flooring, decorative doors, panel mouldings and etc.
Purchases
International : Germany, Sweden
Sales
Local : Yes
International : Tanzania, United Arab Emirates, Oman, Bahrain, Qatar, Iran, Yemen, Jordan, Saudi Arabia, Philippines, Indonesia, China, Vietnam, Singapore, Taiwan, Japan, South Africa, Fiji Islands, Sri Lanka, Mauritius
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.
Other property : Total Group NBV of property, plant and equipment as of 30-06-2011 was MYR 58,822,374.
Gross Domestic Products (GDP) & Economic Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$ 133.6 billion as of 31 December 2011
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 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 Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(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
Local : Prepayment, Bank transfer, Credit up to
90 days
International : Telegraphic transfer
Sales Term
Local : Credit 30-45 days, Prepayment
International : L/C, Telegraphic transfer
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.54.08 |
|
|
1 |
Rs.86.68 |
|
Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.