MIRA INFORM REPORT
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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MALBEN POLYMER SDN. BHD. |
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Registered Office : |
C/O Luah & Associates Management Consultants Sdn Bhd Suite 1005, 10th Floor Kompleks Selangor, Jalan Sultan, Kuala Lumpur , Wilayah Persekutuan, Zip/Postal Code 50000 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.03.2010 |
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Com. Reg. No.: |
895459-X |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Trading in rubber |
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No. of Employees : |
4 persons |
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
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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 |
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 MALBEN POLYMER SDN. BHD.
Business address Unit 3C, 2nd Floor
Jalan USJ 10/1J
Town Subang Jaya
Province Selangor Darul Ehsan
Zip/postal code 47610
Country : Malaysia
Tel : +60 3 80241648
Fax : +60 3 80239648
Email : malben@streamyx.com
Registered address C/o LUAH & ASSOCIATES MANAGEMENT CONSULTANTS SDN BHD Suite 1005,
10th Floor Kompleks Selangor, Jalan Sultan
Town Kuala Lumpur
Province Wilayah Persekutuan
Zip/postal code 50000
Country : Malaysia
Executive Summary
Date founded or registered : 26/03/2010
Legal form : Private Company Limited By Shares
Chief executive : Lawrence Eric Netto A/L A A Netto
Issued & paid up capital : MYR 1,000,000
Sales turnover : MYR 12,605,217.37 (Non-consolidated 9 months, 31/12/2010)
Net income : MYR -206,029.66 (Non-consolidated 9 months, 31/12/2010)
Total fixed assets : MYR 941,978.36 (Non-consolidated 9 months, 31/12/2010)
Line of business : Trading in rubber.
Staff employed : 4 employees
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is in start-up phase
Management experience : Management is modestly experienced
Financial performance : Financial performance is deteriorating
Organization structure : Organizational structure is acceptable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Registry Data
Registration date : 26/03/2010
Legal form : Private Company Limited By Shares
Registration no : 895459-X
Registered authority : Companies Commission of Malaysia
Other registration no : Export Certificate No: DD 1298
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Lawrence
Eric Netto A/L A A Netto
Designation : Managing Director
Appointments
Name : Mathew Thazhathukunnel Thomas
Designation : Director
Identification no : H5194398(P)
Appointment date 26/03/10
Address : Malaya Rainbow Castle
OPP. I.M.A. J.N. Stadium Road Palarivattom PO, Ernakulam Kerala 682 025
India
Name Lawrence Eric Netto A/L A A Netto
Designation Director
Identification no 500107-01-5327
Appointment date 26/03/10
Address No.5, Jalan Dua
Taman Sri Bukit, Jalan Bukit
43000 Kajang Selangor Darul Ehsan Malaysia
Name Alfred Netto
Designation Director
Identification no 881003-05-5537
Appointment date 28/02/11
Address No.5, Jalan Dua
Taman Sri Bukit, Jalan Bukit
43000 Kajang Selangor Darul Ehsan Malaysia
Name Koay Hean Kee @ Luah Hean Kee
Designation Company Secretary
Identification no 501224-07-5171
Appointment date 26/03/10
Address 45, Jalan SS 24/1
Taman Megah
47301 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Staff employed : 4 employees
Key Advisors
Auditors : CC POH & CO
2-1A, Jalan Pandan 2/1
Pandan Jaya
55100 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
Changed in capital : The Subject increased its share capital from MYR 500,000 to MYR 1,000,000 on
18-06-2010.
How listed : Full List
Composition
Shareholder name Benny Kurian
Address Puthenpurakal House Pandit Karuppan Road Thevara P.O. Ernakulam Kerala 682013
India
No. of shares 250,000 Ordinary Shares
Shareholder name Mathew Thazhathukunnel Thomas
Address Malaya Rainbow Castle
OPP. I.M.A. J.N. Stadium Road
Palarivattom PO, Ernakulam
Kerala 682 025
India
No. of shares 249,999 Ordinary Shares
Shareholder name Roshni Kurian
Address Puthenpurakal House Pandit Karuppan Road Thevara P.O. Ernakulam Kerala 682013
India
No. of shares 249,999 Ordinary Shares
Shareholder name Wong Nam Wah @ Wong Chieng Hwa
Address 73 USJ 11/3A
47620 Subang Jaya
Selangor Darul Ehsan
No. of shares 1 Ordinary Share
Shareholder name Liya Mathew
Address Malaya Rainbow Castle Jawaharlalnehru Stadium RD Karana-Kodam, Ernakulam Kerala
682025, India
No. of shares 125,000 Ordinary Shares
Shareholder name MALAYA TRADE IMPEX PRIVATE LIMITED
Address Holy Tuesday Shopping Mall
Near St. Antony's Church
Kaloor, Cochin - 682017
India
No. of shares 125,000 Ordinary Shares
Shareholder name Lawrence Eric Netto A/L A A Netto
Address No.5, Jalan Dua
Taman Sri Bukit, Jalan Bukit
43000 Kajang Selangor Darul Ehsan Malaysia
No. of shares 1 Ordinary Share
Structure
Name : MALAYA TRADE IMPEX PRIVATE LIMITED
Affiliation type : Associate
Address :
Holy Tuesday Shopping Mall Near St.
Antony's Church Kaloor, Cochin 682017
India
Comments Import & export of natural rubber, carbon
black synthetic rubber and rubber chemicals.
Name : MALAYA HI TECH PROPERTIES PRIVATE
LIMITED
Affiliation type : Associate
Address :
Holy Tuesday Shopping Mall Near St.
Antony's Church Kaloor, Cochin 682017
India
Comments :
Constructing villas & apartments,
commercial complexes and shopping malls.
Name : MALAYA LAKE PARKS PRIVATE LIMITED
Affiliation type : Associate
Address :
Holy Tuesday Shopping Mall
Near St. Antony's Church
Kaloor, Cochin 682017
India
Comments :
Tourism company.
Name : MALAYA RUB-TECH INDUSTRIES
Affiliation type : Associate
Address :
Industrial Development Are Muppathadam
P.O. Kadungalloor Village Paravoor Taluk 683110
Ernakulam District, India
Comments :
Manufacturing of Indian Standard
Natural Rubber (ISNR).
Name : MALAYA RUBBERS
Affiliation type : Associate
Address :
Holy Tuesday Shopping Mall Near St.
Antony's Church Kaloor, Cochin 682017
India
Comments :
Procure and supply natural rubber of
all grades.
Name : IND RUBBER TRADERS
Affiliation type : Associate
Address :
Holy Tuesday Shopping Mall Near St.
Antony's Church Kaloor, Cochin 682017, India
Comments :
Procure and supply Natural Rubber of
any grade.
Name : MALAYA AGENCIES
Affiliation type : Associate
Address : Holy Tuesday Shopping Mall Near St.
Antony's Church Kaloor, Cochin 682017, India
Comments : Wholesale
of Godrej & Boyce furniture.
Bank Details
Name of bank : HSBC Bank Malaysia Berhad
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: OPEN CHARGE
Date of Creation: 26-01-2011
Name of Chargee: HSBC BANK MALAYSIA 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 : 31/12/10
Type of accounts : Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.19 as of 20-12-2011
Summarized
Financial Information
Consolidation type : Non Consolidated
Currency : Malaysia, Ringgit (MYR)
Denomination : (x1) One
Date of financial year end : 31/12/10
Length of accounts : 9 months
Gross profit : 102,819.67
Profit before tax : -206,029.66
Net income : -206,029.66
Non current assets : 64,303.50
Current assets : 877,674.86
Total assets : 941,978.36
Current liabilities : 104,983.70
Total liabilities : 104,983.70
Share equity : 836,994.66
Retained earning : -206,029.66
Comments : The Subject's comparative financial
information is not available due to the Subject's recent
date establishment.
Main activities : The Subject is engaged in trading of
rubber.
The Subject is
associated to the Malaya Group of Companies based in
Product & services : Various grades of Rubber: SMR, RSS,
USS, SVR, SIR, STR
Purchases
Local : Yes
International : India, Thailand, Indonesia
Sales
Local : Yes
International : India
Property & Assets
Premises : The Subject operates from premises
located at the verified heading address consisting of administrative office.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 31-12-2010 was MYR 64,303.50.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$134.8 billion as of 30 November 2011
Gross domestic product - GDP : US$ 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 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 : Prepayment, D/P, Credit 30-90 days
International : L/C, D/P, Credit 30-90 days
Sales Term
Local : Prepayment, D/P, Credit 30-90 days
International : L/C, 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.34 |
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UK Pound |
1 |
Rs.88.50 |
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Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
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Report
Prepared by : |
PRL |
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.