MIRA INFORM REPORT

 

 

Report Date :

03.04.2013

 

IDENTIFICATION DETAILS

 

Name :

STENTA FILMS (MALAYSIA) SENDIRIAN BERHAD

 

 

Formerly Known As :

UPREACH SDN BHD

 

 

Registered Office :

Level 8, Symphony House, Block D13, Pusat Dagangan Dana 1, Jalan Pju 1a/46, 47301 Petaling Jaya, Selangor

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

04.05.1989

 

 

Com. Reg. No.:

181796-T

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Manufacture & sale of flexible plastic packaging films for food and tobacco

 

 

No. of Employees :

300

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular 

 

 

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

(31.03.2012)

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

 

 

 

 


* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

 

N/A - Not Applicable

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

181796-T

COMPANY NAME

:

STENTA FILMS (MALAYSIA) SENDIRIAN BERHAD

FORMER NAME

:

UPREACH SDN BHD (06/11/1989)

INCORPORATION DATE

:

04/05/1989

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

LEVEL 8, SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU 1A/46, 47301 PETALING JAYA, SELANGOR, MALAYSIA.

BUSINESS ADDRESS

:

LOT 10, JALAN P/10, KAWASAN PERUSAHAAN, SECTION 10, BANDAR BARU BANGI, 43650 BANDAR BARU BANGI, SELANGOR, MALAYSIA.

TEL.NO.

:

03-89243388

FAX.NO.

:

03-89253907

WEB SITE

:

WWW.STENTAFILMS.COM.MY

CONTACT PERSON

:

NGOEI BOON LIONG ( MANAGING DIRECTOR )

 

 

 

INDUSTRY CODE

:

22204

PRINCIPAL ACTIVITY

:

MANUFACTURE & SALE OF FLEXIBLE PLASTIC PACKAGING FILMS FOR FOOD AND TOBACCO

AUTHORISED CAPITAL

:

MYR 65,000,000.00 DIVIDED INTO 
ORDINARY SHARE 64,000,000.00 OF MYR 1.00 EACH.
PREFERENCE SHARE 1,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 61,000,000.00 DIVIDED INTO 
ORDINARY SHARES 11,200,002 CASH AND 49,799,998 OTHERWISE OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 146,030,538 [2011]

NET WORTH

:

MYR 132,513,943 [2011]

 

 

 

STAFF STRENGTH

:

300 [2013]

BANKER (S)

:

MALAYAN BANKING BHD
RHB BANK BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

PROMPT

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

GOOD

INDUSTRY OUTLOOK

:

AVERAGE 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) manufacture & sale of flexible plastic packaging films for food and tobacco.

 

The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

The immediate holding company of the SC is RENTAK RIMBUN SDN. BHD., a company incorporated in MALAYSIA.

 

The major shareholder(s) of the SC are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

RENTAK RIMBUN SDN. BHD.

NO.16-1, TINGKAT 1, JALAN 1176C, DESA PANDAN, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

625630

41,000,000.00

67.21

P.T. ARGHA KARYA PRIMA INDUSTRY

WISMA INDOCEMENT, TINGKAT 5-6, KAV 70-71, JENDERAL SUDIRMAN, JAKARTA, 12910 INDONESIA, FOREIGN

XLZ000008987

14,000,000.00

22.95

NGOEI BOON LIONG +

305 UPPER EAST COAST ROAD, 466443, SINGAPORE.

0158648C

1,000,000.00

1.64

MR. WONG SOON LIM

115-1,LRG MAYANG 3, YMN PERINGGIT JAYA, 75400 MELAKA., MALAYSIA.

531012-05-5205

1,000,000.00

1.64

MR. CHE AZIZUDDIN BIN CHE ISMAIL

118,JALAN CENGAL PASIR, SIERRAMAS, SELANGOR, MALAYSIA.

580505-11-5457

1,000,000.00

1.64

MR. LOW GEOFF JIN WEI

356 JALAN YONG PAK KHIAN, 75050 MELAKA, MELAKA, MALAYSIA.

E1019082

1,000,000.00

1.64

MS. LIM KOY PENG

9988,LORONG PENGHULU ABBAS, BUKIT BARU, 75150 MELAKA, MALAYSIA.

560805-05-5224

1,000,000.00

1.64

MR. LOW CHUNG KUAY

5633,JLN.DATO PALEMBANG, BUKIT BARU, 75150 MELAKA., MALAYSIA.

521204-04-5029

1,000,000.00

1.64

 

 

 

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

------

 

 

 

61,000,000.00

100.00

 

 

 

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

=====

+ Also Director

DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

MR. SHAH HAKIM @ SHAHZANIM BIN ZAIN

Address

:

NO.32, JALAN CHELAGI, DAMANSARA HEIGHTS, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

650225-07-5439

Date of Birth

:

25/02/1965

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

22/04/2010

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MR. WONG KOK YONG

Address

:

42,JALAN BU 3/4, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA.

 

 

 

New IC No

:

610418-10-6653

Date of Birth

:

18/04/1961

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

22/04/2010

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

MR. MZAN BIN MAHATH

Address

:

26,LRG.KOTA DUA, BUKIT LEDANG, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

581126-02-5595

Date of Birth

:

26/11/1958

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

17/12/1992

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 4

 

Name Of Subject

:

MR. SYED ABDULLAH BIN SYED ABD KADIR

Address

:

59, LAKEVIEW BUNGALOWS, SAUJANA RESORT, SECTION U2, 40150 SHAH ALAM, SELANGOR, MALAYSIA.

 

 

 

New IC No

:

540214-01-5441

Date of Birth

:

14/02/1954

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

01/10/1999

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 5

 

Name Of Subject

:

WILSON PRIBADI

Address

:

JALAN HOS, OKROAMINOTO NO.24, PONDOK INDAH JAKARTA, INDONESIA.

IC / PP No

:

B663420

 

 

 

 

 

 

 

 

 

Nationality

:

INDONESIAN

Date of Appointment

:

18/10/1991

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 6

 

Name Of Subject

:

ANDRY PRIBADY

Address

:

JL SEKOLAH DUTA I/14-16, RT.002/014, KEL PONDOK PINANG KEC, KEBAYORAN LAMA, JAKARTA SELATAN, INDONESIA.

IC / PP No

:

S005696

 

 

 

 

 

 

 

 

 

Nationality

:

INDONESIAN

Date of Appointment

:

22/04/2010

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 7

 

Name Of Subject

:

NGOEI BOON LIONG

Address

:

305 UPPER EAST COAST ROAD, 466443, SINGAPORE.

IC / PP No

:

0158648C

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

17/09/1991

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

NGOEI BOON LIONG

 

Position

:

MANAGING DIRECTOR

 

 

 

 

 

2)

Name of Subject

:

SITI AZWA

 

Position

:

EXECUTIVE

 

 

 

 

 

3)

Name of Subject

:

ONG SOO BAN

 

Position

:

MARKETING MANAGER

 

 

 

 

 

4)

Name of Subject

:

AZAHARI SAID

 

Position

:

DIRECTOR

 

 

 

 

 

5)

Name of Subject

:

WONG KOK YONG

 

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

ERNST & YOUNG

Auditor' Address

:

LEVEL 23A, MENARA MILENIUM, JALAN DAMANLELA,, PUSAT BANDAR DAMANSARA, DAMANSARA HEIGHTS, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. WONG SIEW YEEN

 

 

 

 

 

New IC No

:

700305-05-5166

 

Address

:

3 JALAN SS 15/5E, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

 

 

2)

Company Secretary

:

MS. CHEONG CHOON YIN

 

 

 

 

 

New IC No

:

711103-03-5216

 

Address

:

NO. 11 JALAN USJ 3/4J, 47600 SUBANG JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

MALAYAN BANKING BHD

 

 

 

 

 

2)

Name

:

RHB BANK BHD

 

 

 

 

 

The SC enjoys normal banking routine with above mentioned banker(s). No adverse record was found during our investigation.

 

ENCUMBRANCE (S)


ENCUMBRANCE 1

Date of Creation

:

14/06/2011

Description Of Charge

:

N/A

 

Amount Secured

:

MYR30,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BERHAD

 

 

 

 

 

 

 

Form 40 Dated 23/06/2011

Registered and Numbered 18 In The Register of Charges



ENCUMBRANCE 2

Date of Creation

:

14/06/2011

Description Of Charge

:

N/A

 

Amount Secured

:

MYR30,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BERHAD

 

 

 

 

 

 

 

Form 40 Dated 07/07/2011

Registered and Numbered 19 In The Register of Charges



ENCUMBRANCE 3

Date of Creation

:

27/07/2011

Description Of Charge

:

N/A

 

Amount Secured

:

MYR55,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BERHAD

 

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 20 In The Register of Charges



ENCUMBRANCE 4

Date of Creation

:

27/07/2011

Description Of Charge

:

N/A

 

Amount Secured

:

MYR30,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BERHAD

 

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 21 In The Register of Charges



ENCUMBRANCE 5

Date of Creation

:

27/07/2011

Description Of Charge

:

N/A

 

Amount Secured

:

MYR55,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BERHAD

 

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 22 In The Register of Charges



ENCUMBRANCE 6

Date of Creation

:

26/08/2010

Description Of Charge

:

N/A

 

Amount Secured

:

R,25,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 15 In The Register of Charges



ENCUMBRANCE 7

Date of Creation

:

26/08/2010

Description Of Charge

:

N/A

 

Amount Secured

:

RM25,000,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 17 In The Register of Charges



ENCUMBRANCE 8

Date of Creation

:

14/06/2011

Description Of Charge

:

FACILITY AGREEMENT

 

Amount Secured

:

RM30,000,000.00

Description Of Property Affected

:

CHARGED ASSIGNMENTS TRANSFER

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

MENARA MAYBANK, 100 JALAN TUN PERAK, 37TH FLOOR, 50050 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 23/06/2011

Registered and Numbered 018 In The Register of Charges



ENCUMBRANCE 9

Date of Creation

:

14/06/2011

Description Of Charge

:

MEMORANDUM OF DEPOSITS

 

Amount Secured

:

RM30,000,000.00

Description Of Property Affected

:

SECURITY FOR THE DUE AND PUNCTUAL PAYMENT AS DEFINED IN MEMORANDUM OF DEPOSITS

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

MENARA MAYBANK, 100 JALAN TUN PERAK, 37TH FLOOR, 50050 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 07/07/2011

Registered and Numbered 019 In The Register of Charges



ENCUMBRANCE 10

Date of Creation

:

27/07/2011

Description Of Charge

:

DEBENTURE

 

Amount Secured

:

RM55,000,000.00

Description Of Property Affected

:

BENEFICIAL OWNER CHARHES

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

MENARA MAYBANK, 100 JALAN TUN PERAK, 37TH FLOOR, 50050 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 020 In The Register of Charges



ENCUMBRANCE 11

Date of Creation

:

27/07/2011

Description Of Charge

:

DATED CHARGE

 

Amount Secured

:

30,000,000.00

Description Of Property Affected

:

PIECE OF LAND HELD UNDER THE ISSUED DOCUMENT

 

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 021 In The Register of Charges





ENCUMBRANCE 12

Date of Creation

:

27/07/2011

Description Of Charge

:

ASSIGNMENT OF INSURANCES

 

Amount Secured

:

55,000,000.00

Description Of Property Affected

:

INSURANCES

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

MENARA MAYBANK, 100 JALAN TUN PERAK, 37TH FLOOR, 50050 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 09/08/2011

Registered and Numbered 022 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

:

YES

Percentage

:

100%

Overseas

:

NO

Percentage

:

0%

 

 

 

 

 

 


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

[

X

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

MALAYSIA

Overseas

:

YES

 

 

 

Export Market

:

AFRICA

SOUTH AMERICA

EUROPE

ASIA

Credit Term

:

60 DAYS

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)
LETTER OF CREDIT (LC)

Type of Customer

:

DEALERS,FOOD MANUFACTURERS,MANUFACTURING INDUSTRIES

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Products manufactured

:

FLEXIBLE PLASTIC PACKAGING FILMS FOR FOOD AND TOBACCO

 

 

 

Brand Name

:

ARLENE

 

 

 

 

Member(s) / Affiliate(s)

:

MALAYSIAN PLASTICS MANUFACTURERS ASSOCIATION (MPMA)

 

 

 

Ownership of premises

:

OWNED

 

 

Total Number of Employees:

 

YEAR

2013

2012

2011

2010

2009

 

 

 

 

GROUP

N/A

N/A

N/A

N/A

N/A

 

 

 

 

COMPANY

300

300

200

200

218

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) manufacture & sale of flexible plastic packaging films for food and tobacco. 

We were informed that the SC is providing specialised packaging solutions from general over wraps to high grade food and tobacco wraps and custom designed application films.

The SC manufactures a wide range of flexible packaging film to cater to the needs of all market segments and is a major flexible packaging suppliers to local and international countries.

According to the SC, its production is equipped with fully automated machineries

PROJECTS


No projects found in our databank 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

03 89243388

Current Telephone Number

:

03-89243388

Match

:

YES

 

 

 

Address Provided by Client

:

LOT NO. 10, JALAN P/10, KAWSAN, PERUSAHAAN SEKSYEN 10, BANDER BARU

BANGI 43650 SELANGOR DARUL EHSAN

Current Address

:

LOT 10, JALAN P/10, KAWASAN PERUSAHAAN, SECTION 10, BANDAR BARU BANGI, 43650 BANDAR BARU BANGI, SELANGOR, MALAYSIA.

Match

:

NO

 

 

 

Latest Financial Accounts

:

YES

 

Other Investigations

we contacted Human Resource manager and Finance staff. She provided some information on the SC.

The address provided is incomplete and incorrect.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Erratic

[

2007 - 2011

]

 

Profit/(Loss) Before Tax

:

Increased

[

2007 - 2011

]

 

Return on Shareholder Funds

:

Acceptable

[

10.38%

]

 

Return on Net Assets

:

Acceptable

[

10.65%

]

 

 

 

 

 

 

 

 

The fluctuating turnover reflects the fierce competition among the existing and new market players.The higher profit could be attributed to the increase in turnover. The SC's management had generated acceptable return for its shareholders using its assets.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Unfavourable

[

79 Days

]

 

Debtor Ratio

:

Favourable

[

46 Days

]

 

Creditors Ratio

:

Favourable

[

8 Days

]

 

 

 

 

 

 

 

 

The SC could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The favourable debtors' days could be due to the good credit control measures implemented by the SC. 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

[

1.30 Times

]

 

Current Ratio

:

Favourable

[

2.03 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

:

Acceptable

[

5.44 Times

]

 

Gearing Ratio

:

Favourable

[

0.35 Times

]

 

 

 

 

 

 

 

 

The SC's interest cover was slightly low. If there is no sharp fall in its profit or sudden increase in the interest rates, we believe the SC is able to generate sufficient income to service its interest and repay the loans. 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 :

 

 

 

 

 

 

Although the turnover was erratic, the SC had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. 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. The SC had an acceptable interest cover. If there is no sudden sharp increase in interest rate or fall in the SC's profit, we do believe the SC is able to generate sufficient cash flow to service its interest payment. 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 : STABLE

 

 

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2009

2010

2011

2012*

2013**

 

 

 

 

 

 

Population ( Million)

28.13

28.35

28.70

29.30

29.80

Gross Domestic Products ( % )

<0.5>

7.2

5.1

5.6

5.3

Domestic Demand ( % )

2.9

6.3

8.2

9.4

5.6

Private Expenditure ( % )

<2.7>

8.1

8.2

8.0

7.4

Consumption ( % )

0.7

6.7

7.1

1.0

5.7

Investment ( % )

<17.2>

17.7

12.2

11.7

13.3

Public Expenditure ( % )

5.2

3.8

8.4

13.3

1.2

Consumption ( % )

3.1

0.2

16.1

11.3

<1.2>

Investment ( % )

8.0

2.8

<0.3>

15.9

4.2

 

 

 

 

 

 

Balance of Trade ( MYR Million )

89,650

118,356

116,058

106,300

110,700

Government Finance ( MYR Million )

<28,450>

<40,482>

<45,511>

<42,297>

<39,993>

Government Finance to GDP / Fiscal Deficit ( % )

<4.8>

<5.6>

<5.4>

<4.5>

<4.0>

Inflation ( % Change in Composite CPI)

<5.2>

5.1

3.1

1.6

2.5

Unemployment Rate

4.5

3.9

3.3

3.2

3.0

 

 

 

 

 

 

Net International Reserves ( MYR Billion )

331

329

415

427

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

2.87

2.20

3.50

2.20

-

Average 3 Months of Non-performing Loans ( % )

11.08

15.30

14.80

14.70

-

Average Base Lending Rate ( % )

5.53

6.30

6.60

6.53

-

Business Loans Disbursed( % )

10.5

14.7

15.3

32.2

-

Foreign Investment ( MYR Million )

22,156.8

22,517.9

23,546.1

26,230.4

-

Consumer Loans ( % )

-

-

-

-

-

 

 

 

 

 

 

Registration of New Companies ( No. )

41,578

44,148

45,455

45,441

-

Registration of New Companies ( % )

<0.1>

6.2

3.0

<0.0>

-

Liquidation of Companies ( No. )

39,075

25,585

132,476

-

-

Liquidation of Companies ( % )

39.6

<34.5>

417.8

-

-

 

 

 

 

 

 

Registration of New Business ( No. )

312,581

271,414

284,598

324,761

-

Registration of New Business ( % )

-

-

-

-

-

Business Dissolved ( No. )

19,345

19,738

20,121

-

-

Business Dissolved ( % )

2.4

2.0

1.9

-

-

 

 

 

 

 

 

Sales of New Passenger Cars (' 000 Unit )

486.3

543.6

535.1

552.2

-

Cellular Phone Subscribers ( Million )

30.1

32.8

35.3

38.5

-

Tourist Arrival ( Million Persons )

23.6

24.6

24.7

25.0

-

Hotel Occupancy Rate ( % )

58.0

63.0

60.6

62.4

-

 

 

 

 

 

 

Credit Cards Spending ( % )

12.8

14.1

15.6

12.6

-

Bad Cheque Offenders (No.)

36,667

33,568

32,627

26,982

-

Individual Bankruptcy ( No.)

16,228

18,119

19,167

19,575

-

Individual Bankruptcy ( % )

16.7

11.7

5.8

2.1

-

 

 

 

 

 

 



INDUSTRIES ( % of Growth ):

2009

2010

2011

2012*

2013**

 

 

 

 

 

 

Agriculture

0.4

2.1

5.9

0.6

2.4

Palm Oil

<1.1>

<3.4>

10.8

<2.8>

-

Rubber

<19.8>

9.9

6.1

<0.6>

-

Forestry & Logging

<5.9>

<3.3>

<7.6>

<2.2>

-

Fishing

5.5

5.6

2.1

<0.7>

-

Other Agriculture

9.0

7.9

7.1

6.4

-

Industry Non-Performing Loans ( MYR Million )

413.7

508.4

634.1

-

-

% of Industry Non-Performing Loans

1.3

2.1

3.2

-

-

 

 

 

 

 

 

Mining

<3.8>

0.2

<5.7>

1.5

2.7

Oil & Gas

2.1

0.5

<1.7>

-

-

Other Mining

-

-

-

-

-

Industry Non-performing Loans ( MYR Million )

44.2

49.7

46.5

-

-

% of Industry Non-performing Loans

0.1

0.1

0.1

-

-

 

 

 

 

 

 

Manufacturing #

<9.4>

11.4

4.7

4.2

4.9

Exported-oriented Industries

<19.0>

12.1

2.8

4.1

-

Electrical & Electronics

<30.3>

28.4

<4.9>

1.6

-

Rubber Products

<10.1>

25.3

15.4

3.6

-

Wood Products

<24.1>

20.1

<4.9>

4.6

-

Textiles & Apparel

<19.5>

<0.4>

14.8

<7.1>

-

Domestic-oriented Industries

<9.8>

16.3

6.5

8.6

-

Food, Beverages & Tobacco

0.2

3.0

4.2

-

-

Chemical & Chemical Products

<7.7>

16.2

5.5

9.9

-

Plastic Products

<9.1>

2.4

3.8

-

-

Iron & Steel

<32.7>

29.3

2.4

-

-

Fabricated Metal Products

<2.5>

14.9

25.2

-

-

Non-metallic Mineral

<15.5>

20.2

27.1

6.6

-

Transport Equipment

<13.5>

36.5

<10.4>

13.7

-

Paper & Paper Products

<5.0>

18.7

14.8

<7.8>

-

Crude Oil Refineries

0.2

<11.4>

9.3

-

-

Industry Non-Performing Loans ( MYR Million )

6,007.3

6,217.5

6,537.2

-

-

% of Industry Non-Performing Loans

18.3

23.8

25.7

-

-

 

 

 

 

 

 

Construction

5.8

5.1

4.4

15.5

11.2

Industry Non-Performing Loans ( MYR Million )

3,241.8

4,038.5

3,856.9

-

-

% of Industry Non-Performing Loans

9.9

10.7

10.2

-

-

 

 

 

 

 

 

Services

2.6

6.5

6.4

5.5

5.6

Electric, Gas & Water

0.4

8.5

5.6

4.8

-

Transport, Storage & Communication

1.6

7.7

6.5

7.3

-

Wholesale, Retail, Hotel & Restaurant

2.8

4.7

5.2

6.9

-

Finance, Insurance & Real Estate

3.8

6.1

6.3

6.5

-

Government Services

2.0

6.7

7.6

5.6

-

Other Services

4.4

4.2

5.4

5.7

-

Industry Non-Performing Loans ( MYR Million )

6,631.3

7,384.6

6,825.2

-

-

% of Industry Non-Performing Loans

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

22204 : Manufacture of builders' plastics ware

 

 

INDUSTRY :

MANUFACTURING

 

 

 


The Manufacturing sector is one of the important sectors to the growth of the Malaysian economy. According to Ministry of Finance, the manufacturing sector is expected to grow 4.9% in year 2013. Export oriented-industries are expected to benefit from the higher growth of global trade, while domesticoriented industries expand in line with the better consumer sentiment and business confidence. The resource-based industries are envisaged to grow steadily attributed to improved demand for petroleum, chemical, rubber and plastic products. With better job prospects and higher disposable income, the transportation equipment subsector, in particular, the passenger car segment is expected to expand. 


Value-added of the manufacturing sector expanded 5% during the first half of 2012. Output of the sector rose 5.2% during the first sevenmonths of 2012 in line with the increase in sales value of manufactured products by 6.5% to RM363.1 billion. Output from domesticoriented industries continued to expand 8.6% while export-oriented industries grew 4.1%.


According to the Department of Statistics, the sales value of the Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion) to record RM52.4 billion as compared to RM48.8 billion reported in year 2012. Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2 billion) as compared with the preceding month. The sales value in December 2012 has been revised positive 7.5% year-on-year to record RM52.6 billion. 


Output of rubber products increased 3.6% in the first seven month of 2012 mainly supported by continuous demand for rubber gloves. Output of rubber gloves grew 5.9% on account of the expansion in the global healthcare industry and wider usage of gloves in other sectors. Similarly, output of catheters, especially for use in medical appliances, also registered a strong growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced 10.9% in tandem with slowing external demand from the automotive industry, especially China. 


Meanwhile, production of wood and wood products rebounded 4.6% largely supported by higher demand for wooden and cane furniture (33.5%). The positive performance was attributed to vibrant higher demand from major export destinations such as China and the United States (US) for Malaysian-made furniture. Demand from China accelerated further following the country's rising income level and the implementation of zero import duty on Malaysian made-furniture. Malaysia government has growth target of 6.5% for wood based furniture where estimated to reach up to RM53 billion by year 2020.The government providing pioneer status for tax exemption and investment tax allowance for this industry as a boost up step towards produce good quality product and to meet the world demand.


The output of chemicals and chemical products rose 9.9% in the first seven month of year 2012 on account of increasing demand for plastic products (11.8%) and basic chemicals (11.1%). External demand for plastic packaging materials surged during the early part of the year 2012, particularly from Japan and Thailand, as manufacturers resumed operations, which were interrupted by natural calamities and power outages. Chemical production are expected to show 7.5 % in year 2013 inline with Malaysia as one of the largest contributor in world Chemicals & Chemical industries. 


Tax and non-tax incentives provided by goverment encourage manufacturers to move up the value chain of manufacturing industry. The new growth initiatives by goverment in the manufacturing sector such assolar and medial services can be important drivers of growth apart from helping to diversify the manufacturing base and contributing to the resilience of the sector.

 

 

OVERALL INDUSTRY OUTLOOK : Average Growth

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 1989, the SC is a Private Limited company, focusing on manufacture & sale of flexible plastic packaging films for food and tobacco. The SC has been in business for over two decades. It has built up a strong clientele base and good reputation will enable the SC to further enhance its business in the near term. The SC is expected to enjoy a stable market shares. Having strong support from its holding company has enabled the SC to remain competitive despite the challenging business environment. The SC is a large entity with strong capital position. We are confident with the SC's business and its future growth prospect.


Over the years, the SC has penetrated into both the local and overseas market. The SC has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the SC to further enhance its business in the near term. The SC is a fairly large and rapidly growing company with over 300 staff in its 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. Return on shareholders' funds of the SC was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. 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 132,513,943, the SC should be able to maintain its business in the near terms.


We noted that the SC's supplies are solely sourced from local market. Being highly dependent on a limited number of suppliers could lead to delays, lost of revenue and increased costs if such resources become unavailable or shortage.


We regard that the SC's overall payment habit is prompt. The SC had a favourable creditors' ratio as evidenced by its favourable collection days.


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry.


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)

STENTA FILMS (MALAYSIA) SENDIRIAN BERHAD

 

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

SUMMARY

Currency

MYR

MYR

MYR

MYR

MYR

 

 

 

 

 

 

TURNOVER

146,030,538

134,219,133

134,914,081

146,967,692

134,360,685

Other Income

7,456,526

168,194

-

-

-

 

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

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

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

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

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

Total Turnover

153,487,064

134,387,327

134,914,081

146,967,692

134,360,685

Costs of Goods Sold

<119,794,875>

<104,946,415>

-

-

-

 

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

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

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

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

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

Gross Profit

33,692,189

29,440,912

-

-

-

 

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

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

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

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

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

 

 

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

14,267,727

9,632,195

12,443,863

917,034

<10,077,200>

 

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

14,267,727

9,632,195

12,443,863

917,034

<10,077,200>

Taxation

<511,655>

5,696,937

<883,747>

<1,779,292>

1,426,516

 

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

13,756,072

15,329,132

11,560,116

<862,258>

<8,650,684>

 

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

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

 

 

As previously reported

36,043,471

20,714,339

9,154,223

10,016,481

18,667,165

 

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

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

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

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

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

As restated

36,043,471

20,714,339

9,154,223

10,016,481

18,667,165

 

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

49,799,543

36,043,471

20,714,339

9,154,223

10,016,481

DIVIDENDS - Ordinary (paid & proposed)

<5,000,000>

-

-

-

-

 

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

44,799,543

36,043,471

20,714,339

9,154,223

10,016,481

 

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

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

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

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

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

 

 

 

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

 

 

 

Bank overdraft

-

-

1,208

304

-

Bankers' acceptance

93,504

491,129

-

-

-

Hire purchase

35,235

35,235

35,235

51,377

-

Term loan / Borrowing

956,562

-

-

-

-

Others

2,129,808

3,202,375

2,892,259

7,154,968

-

 

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

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

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

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

 

 

3,215,109

3,728,739

2,928,702

7,206,649

 

 

 

 

BALANCE SHEET

 

 

STENTA FILMS (MALAYSIA) SENDIRIAN BERHAD

 

ASSETS EMPLOYED:

 

 

 

 

 

FIXED ASSETS

123,049,425

121,220,257

124,402,613

127,487,892

139,404,159

 

 

 

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

 

 

 

Development properties/expenditure

8,319,036

6,819,463

4,689,472

6,932,120

-

 

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

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

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

8,319,036

6,819,463

4,689,472

6,932,120

-

 

 

 

 

 

 

 

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

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

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

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

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

TOTAL LONG TERM ASSETS

131,368,461

128,039,720

129,092,085

134,420,012

139,404,159

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Stocks

23,143,098

18,299,534

12,224,345

14,184,312

-

Trade debtors

18,224,634

19,021,147

17,304,160

21,038,475

-

Other debtors, deposits & prepayments

2,345,999

5,587,076

5,706,119

738,742

-

Short term deposits

15,809,250

11,704,833

15,252,286

-

-

Cash & bank balances

5,167,267

14,356,245

17,633,852

20,331,263

-

Others

-

515,402

67,127

35,673

-

 

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

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

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

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

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

TOTAL CURRENT ASSETS

64,690,248

69,484,237

68,187,889

56,328,465

55,301,823

 

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

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

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

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

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

TOTAL ASSET

196,058,709

197,523,957

197,279,974

190,748,477

194,705,982

 

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

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

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

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

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

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

Trade creditors

2,491,480

8,538,124

8,491,931

10,603,741

-

Other creditors & accruals

3,329,889

11,474,314

10,161,309

9,789,371

-

Hire purchase & lease creditors

67,500

202,500

202,500

185,625

-

Bank overdraft

-

-

265,998

615,581

-

Short term borrowings/Term loans

6,000,000

-

-

-

-

Other borrowings

19,293,382

36,000,000

77,000,000

76,684,865

-

Bill & acceptances payable

551,000

5,965,000

15,823,000

19,735,000

-

Provision for taxation

57,605

-

-

-

-

Other liabilities

64,200

-

-

-

-

 

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

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

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

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

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

TOTAL CURRENT LIABILITIES

31,855,056

62,179,938

111,944,738

117,614,183

122,189,301

 

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

32,835,192

7,304,299

<43,756,849>

<61,285,718>

<66,887,478>

 

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

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

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

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

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

TOTAL NET ASSETS

164,203,653

135,344,019

85,335,236

73,134,294

72,516,681

 

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

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

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

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

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

 

 

 

 

 

 

SHARE CAPITAL

 

 

 

 

 

Ordinary share capital

61,000,000

61,000,000

20,000,000

20,000,000

20,000,000

 

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

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

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

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

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

TOTAL SHARE CAPITAL

61,000,000

61,000,000

20,000,000

20,000,000

20,000,000

 

 

 

 

 

 

RESERVES

 

 

 

 

 

Share premium

26,000,000

26,000,000

26,000,000

26,000,000

26,714,400

Capital reserve

714,400

714,400

714,400

714,400

-

Retained profit/(loss) carried forward

44,799,543

36,043,471

20,714,339

9,154,223

10,016,481

 

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

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

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

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

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

TOTAL RESERVES

71,513,943

62,757,871

47,428,739

35,868,623

36,730,881

 

 

 

 

 

 

 

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

132,513,943

123,757,871

67,428,739

55,868,623

56,730,881

 

 

 

 

 

 

LONG TERM LIABILITIES

 

 

 

 

 

Other long term borrowings

21,000,000

-

-

-

-

Hire purchase creditors

-

67,500

270,000

489,375

-

Deferred taxation

10,689,710

11,518,648

17,636,497

16,776,296

-

 

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

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

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

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

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

TOTAL LONG TERM LIABILITIES

31,689,710

11,586,148

17,906,497

17,265,671

15,785,800

 

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

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

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

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

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

 

164,203,653

135,344,019

85,335,236

73,134,294

72,516,681

 

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

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

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

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

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

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

STENTA FILMS (MALAYSIA) SENDIRIAN BERHAD

 

TYPES OF FUNDS

 

 

 

 

 

Cash

20,976,517

26,061,078

32,886,138

20,331,263

-

Net Liquid Funds

20,976,517

26,061,078

32,620,140

19,715,682

-

Net Liquid Assets

9,692,094

<10,995,235>

<55,981,194>

<75,470,030>

<66,887,478>

Net Current Assets/(Liabilities)

32,835,192

7,304,299

<43,756,849>

<61,285,718>

<66,887,478>

Net Tangible Assets

164,203,653

135,344,019

85,335,236

73,134,294

72,516,681

Net Monetary Assets

<21,997,616>

<22,581,383>

<73,887,691>

<92,735,701>

<82,673,278>

 

 

 

 

 

 

BALANCE SHEET ITEMS

 

 

 

 

 

Total Borrowings

46,360,882

36,270,000

77,738,498

77,975,446

-

Total Liabilities

63,544,766

73,766,086

129,851,235

134,879,854

137,975,101

Total Assets

196,058,709

197,523,957

197,279,974

190,748,477

194,705,982

Net Assets

164,203,653

135,344,019

85,335,236

73,134,294

72,516,681

Net Assets Backing

132,513,943

123,757,871

67,428,739

55,868,623

56,730,881

Shareholders' Funds

132,513,943

123,757,871

67,428,739

55,868,623

56,730,881

Total Share Capital

61,000,000

61,000,000

20,000,000

20,000,000

20,000,000

Total Reserves

71,513,943

62,757,871

47,428,739

35,868,623

36,730,881

 

 

 

 

 

 

LIQUIDITY (Times)

 

 

 

 

 

Cash Ratio

0.66

0.42

0.29

0.17

-

Liquid Ratio

1.30

0.82

0.50

0.36

-

Current Ratio

2.03

1.12

0.61

0.48

0.45

 

 

 

 

 

 

WORKING CAPITAL CONTROL (Days)

 

 

 

 

 

Stock Ratio

79

68

46

52

-

Debtors Ratio

46

52

47

52

-

Creditors Ratio

8

30

23

26

-

 

 

 

 

 

 

SOLVENCY RATIOS (Times)

 

 

 

 

 

Gearing Ratio

0.35

0.29

1.15

1.40

-

Liabilities Ratio

0.48

0.60

1.93

2.41

2.43

Times Interest Earned Ratio

5.44

3.58

5.25

1.13

-

Assets Backing Ratio

2.69

2.22

1.40

1.20

3.63

 

 

 

 

 

 

PERFORMANCE RATIO (%)

 

 

 

 

 

Operating Profit Margin

9.77

7.18

9.22

0.62

<7.50>

Net Profit Margin

9.42

11.42

8.57

<0.59>

<6.44>

Return On Net Assets

10.65

9.87

18.01

11.11

<13.90>

Return On Capital Employed

10.64

9.86

17.92

10.99

<13.90>

Return On Shareholders' Funds/Equity

10.38

12.39

17.14

<1.54>

<15.25>

Dividend Pay Out Ratio (Times)

0.36

-

-

-

-

 

 

 

 

 

 





 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.33

UK Pound

1

Rs.82.72

Euro

1

Rs.69.82

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.