MIRA INFORM REPORT

 

 

Report Date :

26.11.2012

 

IDENTIFICATION DETAILS

 

Name :

WONG ELECTRICAL & TEAK WOOD SDN BHD

 

 

Registered Office :

65a, Wisma Kimtoo, Jalan Loke Yew, 55200 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.12.1966

 

 

Reg. No.:

6943-D

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading In Electrical Goods & Electrical Fittings

 

 

No. of Employees :

50

 

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

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

 

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

6943-D

COMPANY NAME

:

WONG ELECTRICAL & TEAK WOOD SDN BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

16/12/1966

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

65A, WISMA KIMTOO, JALAN LOKE YEW, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

8, LORONG YAP HIN, OFF JALAN PASAR, PUDU, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

TEL.NO.

:

03-21425822

FAX.NO.

:

03-21424523

WEB SITE

:

www.wongelectrical.com.my

CONTACT PERSON

:

CHONG CHE CHONG ( DIRECTOR )

 

 

 

INDUSTRY CODE

:

51512 52332

PRINCIPAL ACTIVITY

:

TRADING IN ELECTRICAL GOODS & ELECTRICAL FITTINGS

AUTHORISED CAPITAL

:

MYR 5,000,000.00 DIVIDED INTO
ORDINARY SHARE 50,000.00 OF MYR 100.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 4,704,100.00 DIVIDED INTO
ORDINARY SHARES 18,422 CASH AND 28,619 OTHERWISE OF MYR 100.00 EACH.

SALES

:

MYR 48,285,673 [2011]

NET WORTH

:

MYR 27,124,806 [2011]

STAFF STRENGTH

:

50 [2012]

BANKER (S)

:

CIMB BANK BHD
MALAYAN BANKING BHD

 

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

 

HISTORY / BACKGROUND

 

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) trading in electrical goods & electrical fittings.

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

(%)

LOW CHEOK & CONS HOLDINGS PTE LTD

1 COLOMBO COAST, 07-01/03, 179742, SINGAPORE.

 

8,819.00

18.75

MR. CHONG CHE CHONG +

3,LORONG PETAH 2, TAMAN CONNAUGHT, CHERAS;56000 KUALA LUMPUR, MALAYSIA.

530216-10-5679

5,040.00

10.71

BOON HAW SDN BHD

65A, WISMA KIMTOO, JALAN LOKE YEW, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

333304

5,040.00

10.71

MR. HO SO @ HO WAI MING +

24A JLN CHOO LIP KUNG, TMN TAYNTON VIEW, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

320916-10-5033

4,410.00

9.37

SNG HENG MUAY +

49 HINDHERE WALK, 10-08, SPRINGDALE CONDOMINIUM, 5877976, SINGAPORE.

S0664554B

4,410.00

9.37

CHUA KIAN CHWEE @ LI SOI SOI +

BLOCK 143, LORONG AH SOO, 06-223, 1953, SINGAPORE.

S0870296I

4,410.00

9.37

LAI GARK SENG +

BLOCK 30, KELANTAN ROAD, 1-91, 200030, SHANGHAI, CHINA.

S0446948H

4,410.00

9.37

THONG MIAN SIM

BLOCK 64, 07-150 MARINE DRIVE, 440064, SINGAPORE.

S0670381Z

4,410.00

9.37

RICHARD LEE CHOON HUAT @ LEE CHOON KWANG +

BLOCK 807, 19-254 KING GEORGES AVENUE, 200807, SINGAPORE.

S0870284E

4,410.00

9.37

LOW LYE FAN +

101 HAIG ROAD,, #06-01 THE PROMINENCE,, SINGAPORE 438749, FOREIGN, MALAYSIA.

E0663165E

1.00

0.00

MS. TAN CHIAN MIANG +

NO.175,JALAN SRI PETALING 5, SRI PETALING, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

730707-14-5022

1.00

0.00

MS. CHONG SIEW LIAN

8, LORONG YAP HIN, PUDU, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

570805-10-5518

1,680.00

3.57

 

 

 

---------------

------

 

 

 

47,041.00

100.00

 

 

 

============

=====

 

+ Also Director

 

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

TEE MEE KENG

Address

:

APT BLK 64, MARINE DRIVE, #07-150, SINGAPORE 1544, MALAYSIA.

IC / PP No

:

E2570385C

Date of Birth

:

30/11/1937

Date of Appointment

:

27/06/2012

 

DIRECTOR 2

 

Name Of Subject

:

MS. TAN CHIAN MIANG

Address

:

NO.175,JALAN SRI PETALING 5, SRI PETALING, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

New IC No

:

730707-14-5022

Date of Birth

:

07/07/1973

Nationality

:

MALAYSIAN

Date of Appointment

:

23/03/1996

 

DIRECTOR 3

 

Name Of Subject

:

LOW LYE FAN

Address

:

101 HAIG ROAD,, #06-01 THE PROMINENCE,, SINGAPORE 438749, FOREIGN, MALAYSIA.

IC / PP No

:

E0663165E

Date of Birth

:

25/06/1953

Nationality

:

SINGAPOREAN

 

DIRECTOR 4

 

Name Of Subject

:

MR. HO SO @ HO WAI MING

Address

:

24A JLN CHOO LIP KUNG, TMN TAYNTON VIEW, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

320916-10-5033

Date of Birth

:

16/09/1932

 

 

 

Nationality

:

MALAYSIAN

 

DIRECTOR 5

 

Name Of Subject

:

RICHARD LEE CHOON HUAT @ LEE CHOON KWANG

Address

:

BLOCK 807, 19-254 KING GEORGES AVENUE, 200807, SINGAPORE.

IC / PP No

:

S0870284E

Nationality

:

SINGAPOREAN

 

DIRECTOR 6

 

Name Of Subject

:

SNG HENG MUAY

Address

:

49 HINDHERE WALK, 10-08, SPRINGDALE CONDOMINIUM, 5877976, SINGAPORE.

IC / PP No

:

S0664554B

Date of Birth

:

08/10/1944

Nationality

:

SINGAPOREAN

Date of Appointment

:

06/12/1989

 

DIRECTOR 7

 

Name Of Subject

:

CHUA KIAN CHWEE @ LI SOI SOI

Address

:

BLOCK 143, LORONG AH SOO, 06-223, 1953, SINGAPORE.

IC / PP No

:

S0870296I

Date of Birth

:

21/04/1939

Nationality

:

SINGAPOREAN

 

DIRECTOR 8

 

Name Of Subject

:

LAI GARK SENG

Address

:

BLOCK 30, KELANTAN ROAD, 1-91, 200030, SHANGHAI, CHINA.

IC / PP No

:

S0446948H

Date of Birth

:

13/05/1919

Nationality

:

SINGAPOREAN

 

DIRECTOR 9

 

Name Of Subject

:

MR. CHONG CHE CHONG

Address

:

3,LORONG PETAH 2, TAMAN CONNAUGHT, CHERAS;56000 KUALA LUMPUR, MALAYSIA.

New IC No

:

530216-10-5679

Date of Birth

:

16/02/1953

Nationality

:

MALAYSIAN

Date of Appointment

:

23/03/1996

 

 

MANAGEMENT

 

 

 

1)

Name of Subject

:

CHONG CHE CHONG

 

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

SMALLEY & CO

Auditor' Address

:

UNIT 23-05A, MENARA LANDMARK, 12 JALAN NGEE HENG, LEVEL 23, 80000 JOHOR BAHRU, JOHOR, MALAYSIA.

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. WONG CHOONG PENG @ CHUNG CHOONG PUN @ WONG CHOONG PENG

 

New IC No

:

461208-10-5875

 

Address

:

11A,JLN SATU, TMN TUN ABDUL RAZAK, AMPANG JAYA;68000 AMPANG, MALAYSIA.

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

CIMB BANK BHD

 

2)

Name

:

MALAYAN BANKING BHD

 

The SC enjoys normal banking routine with above mentioned banker(s). The SC has bank charges with above mentioned banker(s).

 

 

ENCUMBRANCE (S)

 

ENCUMBRANCE 1

Date of Creation

:

28/04/1975

Description Of Charge

:

LETTER OF HYPOTHECATION & CHARGE

 

Amount Secured

:

RM300,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE, CT 23111 LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

Form 40 Dated 29/05/1975

Registered and Numbered 4 In The Register of Charges


ENCUMBRANCE 2

Date of Creation

:

03/06/1977

Description Of Charge

:

DEBENTURE, LETTER OF HYPOTHECATION & CHARGE

 

Amount Secured

:

RM200,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE, CT 23111 LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK

 

 

Form 40 Dated 22/06/1977

Registered and Numbered 5 In The Register of Charges


ENCUMBRANCE 3

Date of Creation

:

15/06/1979

Description Of Charge

:

DEBENTURE, CHARGE & LETTER OF HYPOTHECATION

 

Amount Secured

:

RM180,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE, CT 23111 LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

 

 

 

Form 40 Dated 14/07/1979

Registered and Numbered 6 In The Register of Charges


ENCUMBRANCE 4

Date of Creation

:

30/12/1982

Description Of Charge

:

DEBENTURE, CHARGE & LETTER OF HYPOTHECATION

 

Amount Secured

:

RM700,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE, CT 23111 LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

Form 40 Dated 24/02/1983

Registered and Numbered 7 In The Register of Charges


ENCUMBRANCE 5

Date of Creation

:

13/01/1984

Description Of Charge

:

DEBENTURE, CHARGE & LETTER OF HYPOTHECATION

 

Amount Secured

:

RM720,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE, CT 23111 LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

 

 

 

Form 40 Dated 17/03/1984

Registered and Numbered 8 In The Register of Charges


ENCUMBRANCE 6

Date of Creation

:

20/03/1987

Description Of Charge

:

CHARGE, DEBENTURE & LETTER OF HYPOTHECATION

 

Amount Secured

:

RM200,000.00

Description Of Property Affected

:

CT 23111 LOT 752, SEC 62, TOWN K LUMPUR, FIXED & FLOATING CHARGE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HOUSE, 10 JALAN RAJA LAUT, GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 20/04/1987

Registered and Numbered 9 In The Register of Charges


ENCUMBRANCE 7

Date of Creation

:

06/01/1988

Description Of Charge

:

LETTER OF HYPOTHECATION

 

Amount Secured

:

RM445,000.00

Description Of Property Affected

:

GUARANTEE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

 

 

 

Form 40 Dated 14/03/1988

Registered and Numbered 10 In The Register of Charges


ENCUMBRANCE 8

Date of Creation

:

23/06/1988

Description Of Charge

:

DEBENTURE & CHARGE

 

Amount Secured

:

RM145,000.00

Description Of Property Affected

:

G 15613 LOT 627, SEC 10, GEORGETOWN NED PENANG FIXED & FLOATING CHARGE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD

 

 

Form 40 Dated 03/08/1988

Registered and Numbered 12 In The Register of Charges


ENCUMBRANCE 9

Date of Creation

:

29/07/1988

Description Of Charge

:

CORPORATE GUARANTEE

 

Amount Secured

:

RM610,000.00

Description Of Property Affected

:

CORPORATE GUARANTEE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
WISMA MCIS, JALAN BARAT, GROUND FLOOR, 46700 PETALING JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

Form 40 Dated 06/09/1988

Registered and Numbered 14 In The Register of Charges


ENCUMBRANCE 10

Date of Creation

:

29/07/1988

Description Of Charge

:

CORPORATE GUARANTEE

 

Amount Secured

:

RM500,000.00

Description Of Property Affected

:

CORPORATE GUARANTEE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HOUSE, 10 JALAN RAJA LAUT, GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 06/09/1988

Registered and Numbered 15 In The Register of Charges


ENCUMBRANCE 11

Date of Creation

:

16/08/1988

Description Of Charge

:

CHARGE

 

Amount Secured

:

RM2,300,000.00

Description Of Property Affected

:

HS(D) 16307 PT 11573, LOT PT, MK KAPAR, DIST KELANG

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HOUSE, 10 JALAN RAJA LAUT, UPPER GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 22/09/1988

Registered and Numbered 16 In The Register of Charges


ENCUMBRANCE 12

Date of Creation

:

16/06/1989

Description Of Charge

:

CHARGE & DEBENTURE

 

Amount Secured

:

RM1,600,000.00

Description Of Property Affected

:

CT 23111 LOT 752, SEC 62, TOWN K LUMPUR FIXED & FLOATING CHARGE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HSE 10, JALAN RAJA LAUT, UPPER GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 21/07/1989

Registered and Numbered 17 In The Register of Charges


ENCUMBRANCE 13

Date of Creation

:

29/12/1989

Description Of Charge

:

CHARGE, MORTGAGE & DEBENTURE

 

Amount Secured

:

RM700,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HSE 10, JALAN RAJA LAUT, UPPER GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 30/01/1990

Registered and Numbered 18 In The Register of Charges


ENCUMBRANCE 14

Date of Creation

:

15/05/1990

Description Of Charge

:

CHARGE, MORTGAGE & DEBENTURE

 

Amount Secured

:

RM1,600,000.00

Description Of Property Affected

:

FIXED & FLOATING CHARGE G 11205 CT 23111, LOT 752, SEC 62, TOWN K LUMPUR

 

Name & Address Of Chargee

:

UNITED ASIAN BANK BHD
RESOURCE HSE 10, JALAN RAJA LAUT, UPPER GROUND FLOOR, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 24/05/1990

Registered and Numbered 19 In The Register of Charges


ENCUMBRANCE 15

Date of Creation

:

27/11/1992

Description Of Charge

:

DEBENTURE & CHARGE

 

Amount Secured

:

RM1,400,000.00

Description Of Property Affected

:

G11205 LOT 752, SEC 62, TOWN K LUMPUR, FIXED & FLOATING CHARGE

 

Name & Address Of Chargee

:

CIMB BANK BHD
6 JALAN TUN PERAK, 50050 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 08/01/1993

Registered and Numbered 21 In The Register of Charges


ENCUMBRANCE 16

Date of Creation

:

27/11/1992

Description Of Charge

:

DEPOSIT

 

Amount Secured

:

RM1,200,000.00

Description Of Property Affected

:

FDR 124236

 

Name & Address Of Chargee

:

CIMB BANK BHD

 

 

 

 

 

Form 40 Dated

Registered and Numbered 22 In The Register of Charges


ENCUMBRANCE 17

Date of Creation

:

03/05/1993

Description Of Charge

:

DEPOSIT

 

Amount Secured

:

RM200,000.00

Description Of Property Affected

:

FDR 124236

 

Name & Address Of Chargee

:

KWONG YIK BANK BHD
75 JALAN TUN HS LEE, 50000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 14/05/1993

Registered and Numbered 23 In The Register of Charges


ENCUMBRANCE 18

Date of Creation

:

27/08/1994

Description Of Charge

:

LETTER OF SET-OFF

 

Amount Secured

:

RM300,000.00

Description Of Property Affected

:

FIXED CHARGE

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD
418-424 JALAN PUDU, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

Form 40 Dated 28/09/1994

Registered and Numbered 24 In The Register of Charges


ENCUMBRANCE 19

Date of Creation

:

13/12/2006

Description Of Charge

:

MEMO OF DEPOSIT OF FIXED DEPOSIT RECEIPT AND/ OR NEGOTIABLE CERTIFICATE OF DEPOSIT AND LETTER OF SETOFF

 

Amount Secured

:

RM1,350,000.00

Description Of Property Affected

:

MEMO OF DEPOSIT OF FIXED DEPOSIT AND/ OR NEGOTIABLE CERTIFICATE OF DEPOSIT EXECUTED BY THE COMPANY

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD
PUDU BUSINESS CENTRE, 418-424 JALAN PUDU, 3RD FLOOR, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

Form 40 Dated 08/01/2007

Registered and Numbered 26 In The Register of Charges

 

 

LEGAL CHECK AGAINST SC


* 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.

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The SC refused to disclose its number of employees.

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

[

X

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Percentage

:

0%

 

 

 

 

 

 

Credit Term

:

30 - 60 DAYS

 

 

 

 

 

 

Payment Mode

:

CASH,CHEQUES

Type of Customer

:

CONSTRUCTION INDUSTRY,CONTRACTOR,END USERS

 

 

OPERATIONS

 

Goods Traded

:

ELECTRICAL GOODS & ELECTRICAL FITTINGS

 

Award

:

1 ) ENTERPRISE 50 AWARD Year :1997

 

Competitor(s)

:

ATIS CORPORATION BHD
BCT TECHNOLOGY BHD
COMPUGATES HOLDINGS BHD
EPCOS RDC SDN BHD
TOOL CONSULT & PRESS SDN BHD

 

 

 

 

 

Member(s) / Affiliate(s)

:

THE ELECTRICAL AND ELECTRONICS ASSOCIATION OF MALAYSIA (TEEAM)

 

Total Number of Employees:

 

YEAR

2012

2011

2010

2009

2008

2007

GROUP

N/A

N/A

N/A

N/A

N/A

N/A

COMPANY

50

50

50

60

60

60

 

Branch

:

YES

 

Branch(es)

:

NO.33, JLN 20/14, PARAMOUNT GARDEN, 46300 PETALING JAYA, SELANGOR, MALAYSIA.
Tel No: 03-78762676/78748251
Fax No: 03-78767175

NO.13, JLN PETANI, 10150 PULAU PINANG, PULAU PINANG, MALAYSIA.
Tel No: 04-2292571/2292519
Fax No: 04-2293613

NO. 28, LENGKOK KIKIK SATU, TMN INDERAWASIH, 13600 PRAI, PULAU PINANG, MALAYSIA.
Tel No: 04-3980720/3980726
Fax No: 04-3980855

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information:


The SC is principally engaged in the (as a / as an) trading in electrical goods & electrical fittings.

The SC is one of the leading wholesaler and dealer of electrical building appliances in Malaysia.

It specializes in providing a comprehensive range of both local and imported electrical appliances and general merchandise.

The SC offers a wide range of products including:-

* Basic building electrical accessories - cables, indoor & outdoor switches, circuit breakers, distribution boards, trunkings, flexible conduits and conduit pipes.

* Controls and safety accessories - timers, relays, motor sirens and horns, copper busbars, capacitors and voltage regulators, transformers and safety belts.

* Tools - hand or hydraulic crimping tools, cutters and tester meters.

* Commercial and Industrial lighting & accessories - street lanterns, son and metal halide fittings, high bay fittings, globes, revolving lights, industrial fans and exhaust fans.

 

 

PROJECTS


No projects found in our databank

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

03-21425822

Match

:

N/A

 

 

 

Address Provided by Client

:

8, LORONG YAP HIN, OFF JALAN PASAR, PUDU,55100,KUALA LUMPUR,WILAYAH PERSEKUTUAN.

Current Address

:

8, LORONG YAP HIN, OFF JALAN PASAR, PUDU, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Match

:

YES

 

 

 

Latest Financial Accounts

:

YES

 

Other Investigations


On 22nd November 2012 we contacted one of the staff from the SC and she provided some information on the SC.


FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

2007 - 2011

]

 

Profit/(Loss) Before Tax

:

Increased

[

2007 - 2011

]

 

Return on Shareholder Funds

:

Unfavourable

[

2.96%

]

 

Return on Net Assets

:

Unfavourable

[

4.30%

]

 

 

 

 

 

 

 

 

The SC's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The higher profit could be attributed to the increase in turnover. The unfavourable return on shareholders' funds could indicate that the SC was inefficient in utilising its assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Unfavourable

[

88 Days

]

 

Debtor Ratio

:

Unfavourable

[

133 Days

]

 

Creditors Ratio

:

Favourable

[

49 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 SC had a favourable creditors' ratio as evidenced by its favourable collection days. The SC could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

2.87 Times

]

 

Current Ratio

:

Favourable

[

4.41 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

:

Favourable

[

89.26 Times

]

 

Gearing Ratio

:

Favourable

[

0.04 Times

]

 

 

 

 

 

 

 

 

The interest cover showed that the SC was able to service the interest. The favourable interest cover could indicate that the SC was making enough profit to pay for the interest accrued. 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 :

 

 

 

 

 

 

Generally, the SC's performance has improved with higher turnover and profit. 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. With the favourable interest cover, the SC could be able to service all the accrued interest without facing any difficulties. 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

51512 : Wholesale of electrical and electronic components and wiring accessories

52332 : Retail sale of electrical household appliances, radio and television equipment

 

 

INDUSTRY :

ELECTRICAL & ELECTRONIC

 

 

 


The E&E industry is an important contributor to the national economy, accounting for RM37 billion or 6% of the Gross National Income (GNI) and RM250 billion or 40% of total exports, and provides about 522,000 skilled and semi-skilled jobs. The Malaysian economy is likely to pick up momentum in the latter part of 2012 as improving external conditions boost demand for the electrical and electronic products. There are 1,900 active companies in the electrical and electronics (E&E) which offering products with unique market characteristics.


The economy expected to grow at an average moderate pace of 4.41% in 2012 with contribution of E&E sector. Base effects on electrical and electronics (E&E) sector shows a near-term slowdown but more favourable base effects, will increase electrical and electronics (E&E) exports and fiscal will lift at the second half 2012.


Consumer electronic product sales are predicted to rise from US$11.47billion in 2012 to US$14.44billion in 2016, an increase of 25.8%, boosted by demand from the tech-literate urban middle class and by a growing interest in electronic products from under-penetrated areas outside the Klang Valley.


Integrated circuits and LED chip manufacturing also expecting a good demand at the second half 2012.On the industrial electronic products sector the second quarter expected to improve over the first half 2012, which fell compared with the first half 2011.


According to Statistics Department, exports jumped 14.5% year-on-year in February 2012 to RM56.9billion largely due to demand for electrical and electronic products, which rose 7.8% to RM18.6billon. More than half of Malaysia exports to the US are electrical and electronic (E&E) goods which is semiconductor devices, ICs, transistors and valves. E&E contributes 34.1% of the manufactured goods, which contribute 67.7 %of the total Malaysian exports compared to "price sensitive" commodities, which contribute 28.6%. The electrical and electronic exports expected to pick up in the second half 2012.


Softening of world demand for solar panels impact Malaysia on it's downturn in small scale compared to China where it facing great impact. The decline in E&E products was also due to the weak global demand.


E&E has been instrumental in the development of the Northern Corridor Klang Valley, Johor and Sarawak, contributing significantly to the socio-economic development of the relevant communities.However, the E&E sector faces significant challenges in maintaining growth with intense competition from China, Taiwan, Singapore and other Asian countries. Over the last 10 years, E&E's share of Malaysian exports has gradually declined.


Malaysia's E&E sector remains focused on assembly, the lower value-added part of the industry while Taiwan, South Korea and Singapore have captured the higher value-added activities in research and development, design and manufacturing.


To propel the E&E industry to a higher level, under the Economic Transformation Programme (ETP) launched by the Government, a few sub-sectors namely integrated circuits, solar photovoltaics, light emitting diodes, and solid state lighting & integrated electronics have been identified for greater promotion based on their potential to contribute significantly towards Gross National Income (GNI) targets 2020.

 

 

OVERALL INDUSTRY OUTLOOK : Marginal Growth



CREDIT RISK EVALUATION & RECOMMENDATION

 

 


Incorporated in 1966, the SC is a Private Limited company, focusing on trading in electrical goods & electrical fittings. With its long presence in the industry coupled with its vast experiences in the business, the SC should have built up certain goodwill with its clients over times. Having strong support from its shareholders has enabled the SC to remain competitive despite the challenging business environment. The capital standing of the SC is fair. With an adequate share capital, the SC has the potential of expanding its business in future.


Over the years, the SC should have build up its clientele base and received supports from its regular customers. Investigation revealed that the SC's interest lies mostly in the local market. Thus, any adverse changes to the local economy might have a negative impact on the SC's business performance. The SC is operating on a medium scale and it has approximately 50 employees in its business operations. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. However, the SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. 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. Given a positive net worth standing at MYR 27,124,806, the SC should be able to maintain its business in the near terms.


Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.


Overall, the SC's payment habit is good as the SC has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.


The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. As the SC is long presence in the market, it should have acquired competitive edge against other players in the same fields.


Based on the above condition, we recommend credit be granted to the SC promptly.



 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

WONG ELECTRICAL & TEAK WOOD SDN BHD

 

Financial Year End

31/12/2011

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Months

12

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

FULL

FULL

FULL

FULL

FULL

Currency

MYR

MYR

MYR

MYR

MYR

 

 

 

 

 

 

TURNOVER

48,285,673

43,436,590

41,915,686

52,497,453

56,185,508

 

----------------

----------------

----------------

----------------

----------------

Total Turnover

48,285,673

43,436,590

41,915,686

52,497,453

56,185,508

Costs of Goods Sold

<43,219,683>

<38,896,592>

-

-

-

 

----------------

----------------

----------------

----------------

----------------

Gross Profit

5,065,990

4,539,998

-

-

-

 

----------------

----------------

----------------

----------------

----------------

 

 

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

1,157,325

858,784

642,379

1,629,079

2,058,675

 

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,157,325

858,784

642,379

1,629,079

2,058,675

Taxation

<355,741>

<206,992>

<179,730>

<445,366>

<588,438>

 

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

801,584

651,792

462,649

1,183,713

1,470,237

 

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

 

 

As previously reported

22,089,532

21,924,144

21,931,905

21,218,602

20,124,693

 

----------------

----------------

----------------

----------------

----------------

As restated

22,089,532

21,924,144

21,931,905

21,218,602

20,124,693

 

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

22,891,116

22,575,936

22,394,554

22,402,315

21,594,930

DIVIDENDS - Ordinary (paid & proposed)

<470,410>

<486,404>

<470,410>

<470,410>

<376,328>

 

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

22,420,706

22,089,532

21,924,144

21,931,905

21,218,602

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

 

 

 

Others

13,113

117

166

8,781

3,508

 

----------------

----------------

----------------

----------------

----------------

 

13,113

117

166

8,781

3,508

 

 

 

BALANCE SHEET

 

 

WONG ELECTRICAL & TEAK WOOD SDN BHD

 

ASSETS EMPLOYED:

 

 

 

 

 

FIXED ASSETS

1,354,573

1,591,510

1,059,685

968,332

815,118

 

 

 

 

 

 

 

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

1,354,573

1,591,510

1,059,685

968,332

815,118

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Short term quoted/unquoted investments

3,750,772

663,021

647,528

1,635,137

623,171

Stocks

11,691,417

9,623,890

9,043,004

10,786,462

10,429,691

Trade debtors

17,584,101

15,278,981

13,656,449

15,584,129

17,941,835

Other debtors, deposits & prepayments

39,284

39,574

45,579

42,177

46,242

Amount due from director

1,564

1,564

1,564

1,564

-

Cash & bank balances

353,897

4,832,599

6,451,236

2,383,124

3,144,932

Others

-

274,416

180,764

55,000

20,562

 

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

33,421,035

30,714,045

30,026,124

30,487,593

32,206,433

 

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

34,775,608

32,305,555

31,085,809

31,455,925

33,021,551

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

Trade creditors

5,801,447

4,718,780

3,935,811

3,753,702

6,280,272

Other creditors & accruals

483,500

416,930

396,477

382,918

373,402

Hire purchase & lease creditors

72,910

145,113

84,672

-

-

Bank overdraft

456,830

107,975

-

-

-

Short term borrowings/Term loans

655,000

-

-

653,000

-

Amounts owing to director

-

-

-

-

413,175

Provision for taxation

106,090

-

-

-

-

 

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

7,575,777

5,388,798

4,416,960

4,789,620

7,066,849

 

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

25,845,258

25,325,247

25,609,164

25,697,973

25,139,584

 

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

27,199,831

26,916,757

26,668,849

26,666,305

25,954,702

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

SHARE CAPITAL

 

 

 

 

 

Ordinary share capital

4,704,100

4,704,100

4,704,100

4,704,100

4,704,100

 

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

4,704,100

4,704,100

4,704,100

4,704,100

4,704,100

 

 

 

 

 

 

RESERVES

 

 

 

 

 

Retained profit/(loss) carried forward

22,420,706

22,089,532

21,924,144

21,931,905

21,218,602

 

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

22,420,706

22,089,532

21,924,144

21,931,905

21,218,602

 

 

 

 

 

 

 

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

27,124,806

26,793,632

26,628,244

26,636,005

25,922,702

 

 

 

 

 

 

LONG TERM LIABILITIES

 

 

 

 

 

Hire purchase creditors

-

66,034

8,561

-

-

Deferred taxation

75,025

57,091

32,044

30,300

32,000

 

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

75,025

123,125

40,605

30,300

32,000

 

----------------

----------------

----------------

----------------

----------------

 

27,199,831

26,916,757

26,668,849

26,666,305

25,954,702

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

WONG ELECTRICAL & TEAK WOOD SDN BHD

 

TYPES OF FUNDS

 

 

 

 

 

Cash

353,897

4,832,599

6,451,236

2,383,124

3,144,932

Net Liquid Funds

<102,933>

4,724,624

6,451,236

1,730,124

3,144,932

Net Liquid Assets

14,153,841

15,701,357

16,566,160

14,911,511

14,709,893

Net Current Assets/(Liabilities)

25,845,258

25,325,247

25,609,164

25,697,973

25,139,584

Net Tangible Assets

27,199,831

26,916,757

26,668,849

26,666,305

25,954,702

Net Monetary Assets

14,078,816

15,578,232

16,525,555

14,881,211

14,677,893

BALANCE SHEET ITEMS

 

 

 

 

 

Total Borrowings

1,184,740

319,122

93,233

653,000

0

Total Liabilities

7,650,802

5,511,923

4,457,565

4,819,920

7,098,849

Total Assets

34,775,608

32,305,555

31,085,809

31,455,925

33,021,551

Net Assets

27,199,831

26,916,757

26,668,849

26,666,305

25,954,702

Net Assets Backing

27,124,806

26,793,632

26,628,244

26,636,005

25,922,702

Shareholders' Funds

27,124,806

26,793,632

26,628,244

26,636,005

25,922,702

Total Share Capital

4,704,100

4,704,100

4,704,100

4,704,100

4,704,100

Total Reserves

22,420,706

22,089,532

21,924,144

21,931,905

21,218,602

LIQUIDITY (Times)

 

 

 

 

 

Cash Ratio

0.05

0.90

1.46

0.50

0.45

Liquid Ratio

2.87

3.91

4.75

4.11

3.08

Current Ratio

4.41

5.70

6.80

6.37

4.56

WORKING CAPITAL CONTROL (Days)

 

 

 

 

 

Stock Ratio

88

81

79

75

68

Debtors Ratio

133

128

119

108

117

Creditors Ratio

49

44

34

26

41

SOLVENCY RATIOS (Times)

 

 

 

 

 

Gearing Ratio

0.04

0.01

0.00

0.02

0.00

Liabilities Ratio

0.28

0.21

0.17

0.18

0.27

Times Interest Earned Ratio

89.26

7,341.03

3,870.75

186.52

587.85

Assets Backing Ratio

578.22

572.20

566.93

566.87

551.75

PERFORMANCE RATIO (%)

 

 

 

 

 

Operating Profit Margin

2.40

1.98

1.53

3.10

3.66

Net Profit Margin

1.66

1.50

1.10

2.25

2.62

Return On Net Assets

4.30

3.19

2.41

6.14

7.95

Return On Capital Employed

4.22

3.16

2.40

6.00

7.95

Return On Shareholders' Funds/Equity

2.96

2.43

1.74

4.44

5.67

Dividend Pay Out Ratio (Times)

0.59

0.75

1.02

0.40

0.26

NOTES TO ACCOUNTS

 

 

 

 

 

Contingent Liabilities

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.88.30

Euro

1

Rs.71.37

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.