MIRA INFORM REPORT

 

 

Report Date :

08.04.2013

 

IDENTIFICATION DETAILS

 

Name :

BNF ENGINEERING & SUPPLIES (M) SDN. BHD.

 

 

Formerly Known as:

BNF ENGINEERING (M) SDN BHD

 

 

Registered Office :

First Subang, Unit S12-05, Level 12, Jalan Ss 15/4g, 47500 Subang Jaya, Selangor

 

 

Country :

Malaysia

 

 

Date of Incorporation :

17.05.1990

 

 

Com. Reg. No.:

197764-D

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Trading of metallurgical, foundry products

 

 

No. of Employees :

Not available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

Payment Behaviour :

Unknown

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

 

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

197764-D

COMPANY NAME

:

BNF ENGINEERING & SUPPLIES (M) SDN. BHD.

FORMER NAME

:

BNF ENGINEERING (M) SDN BHD (05/06/1992)
AMALGLOBE (M) SDN BHD (10/10/1990)

INCORPORATION DATE

:

17/05/1990

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

 

 

 

 

 

 

REGISTERED ADDRESS

:

FIRST SUBANG, UNIT S12-05, LEVEL 12, JALAN SS 15/4G, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.

BUSINESS ADDRESS

:

25, JALAN TPP 5/13, TAMAN PERINDUSTRIAN PUCHONG, SECTION 5 BATU 12, JALAN PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA.

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

TRADING OF METALLURGICAL, FOUNDRY PRODUCTS

AUTHORISED CAPITAL

:

MYR 5,000,000.00 DIVIDED INTO
ORDINARY SHARE 5,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 3,500,000.00 DIVIDED INTO
ORDINARY SHARES 2,250,002 CASH AND 1,249,998 OTHERWISE OF MYR 1.00 EACH.

 

 

 

 

 

 

 

 

 

 

SHAREHOLDER(S)

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. HIONG CHEE MENG +

77-7-5,MENARA BELFIELD, JALAN TALALLA, 50460 K.LUMPUR, MALAYSIA.

650207-06-5077

62,502.00

1.79

LEE YEW SIN +

NO. 6, VILLA BOVELIN, LORONG AWAN CINA, TAMAN YARL, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

1463654D

3,437,498.00

98.21

 

 

 

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

------

 

 

 

3,500,000.00

100.00

 

 

 

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

=====

 

+ Also Director

DIRECTORS

 

DIRECTOR 1

Name Of Subject

:

LEE YEW SIN

Address

:

NO: 29 LORONG LEW LIAN, #03-07, SINGAPORE 536471., MALAYSIA.

IC / PP No

:

S1463654D

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

13/07/1990

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

Name Of Subject

:

LEE BOON CHONG

Address

:

NO. 6, VILLA BOVELIN, LORONG AWAN CINA, TAMAN YARL, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

S1704720E

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

15/04/2011

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

Name Of Subject

:

MR. HIONG CHEE MENG

Address

:

77-7-5,MENARA BELFIELD, JALAN TALALLA, 50460 K.LUMPUR, MALAYSIA.

 

 

 

New IC No

:

650207-06-5077

Date of Birth

:

07/02/1965

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

09/05/1997

 

 

 

 

 

 

 

 

 

 

 

 



AUDITOR

 

Auditor

:

K.Y.HO & CO.

Auditor' Address

:

FIRST SUBANG, UNIT S12-06, JALAN SS 15/4G, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. CHONG LIP CHEE

 

 

 

 

 

New IC No

:

560910-05-5461

 

Address

:

BLOCK J7-04, DESA PANDAN, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

 

 

ENCUMBRANCE (S)


ENCUMBRANCE 1

Date of Creation

:

28/11/1994

Description Of Charge

:

DEED OF ASSIGNMENT & FACILITIES AGREEMENT

 

Amount Secured

:

RM575,000.00

Description Of Property Affected

:

HS(D) 27098, PT 5, MK & DIST PETALING

 

Name & Address Of Chargee

:

CIMB BANK BHD

5 JALAN MANIS 6 TAMAN SEGAR, BATU 6 JALAN CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 25/11/1994

Registered and Numbered 1 In The Register of Charges



ENCUMBRANCE 2

Date of Creation

:

08/03/1996

Description Of Charge

:

ADDITIONAL FACILITY AGREEMENT, ASSIGNMENT & AGREEMENT

 

Amount Secured

:

RM350,000.00

Description Of Property Affected

:

ALL OF THE PROPERTY OF THE CO MORE PARTICULARLY DESCRIBED IN THE SEC 4 OF THE ADDITIONAL FACILITY AGREEMENT

 

Name & Address Of Chargee

:

CIMB BANK BHD

5 JALAN MANIS 6, TAMAN SEGAR, CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 19/03/1996

Registered and Numbered 2 In The Register of Charges



ENCUMBRANCE 3

Date of Creation

:

19/05/1997

Description Of Charge

:

3RD FACILITY AGREEMENT, SUPPLEMENTARY ASSIGNMENT, JOINT & SEVERAL GUARANTEE

 

Amount Secured

:

RM300,000.00

Description Of Property Affected

:

A 1 1/2 STOREY, SEMI DETACHED FACTORY UNDER SUB LOT 236, TMN PERINDUSTRIAN PUCHONG, SEC 5

 

Name & Address Of Chargee

:

CIMB BANK BHD

WISMA MAH SING, 163 JALAN SUNGAI BESI, 57100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

 

 

 

Form 40 Dated 18/06/1997

Registered and Numbered 3 In The Register of Charges


ENCUMBRANCE 4

Date of Creation

:

17/07/2000

Description Of Charge

:

N/A

 

Amount Secured

:

RM3,500,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

BUMIPUTRA-COMMERCE BANK BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 6 In The Register of Charges



ENCUMBRANCE 5

Date of Creation

:

29/10/2003

Description Of Charge

:

N/A

 

Amount Secured

:

RM2,500,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

CIMB BANK BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 7 In The Register of Charges



ENCUMBRANCE 6

Date of Creation

:

31/10/2003

Description Of Charge

:

N/A

 

Amount Secured

:

RM6,350,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

CIMB BANK BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 8 In The Register of Charges



ENCUMBRANCE 7

Date of Creation

:

30/08/2004

Description Of Charge

:

DEED OF ASSIGNMENT & FACILITIES AGREEMENT

 

Amount Secured

:

RM1,500,000.00

Description Of Property Affected

:

HS(D) 27098, PT 5, MK & DIST PETALING

 

Name & Address Of Chargee

:

CIMB BANK BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 9 In The Register of Charges



ENCUMBRANCE 8

Date of Creation

:

28/10/2005

Description Of Charge

:

N/A

 

Amount Secured

:

RM10,350,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

CIMB BANK BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 10 In The Register of Charges



ENCUMBRANCE 9

Date of Creation

:

24/11/2005

Description Of Charge

:

N/A

 

Amount Secured

:

RM21,600,000.00

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 11 In The Register of Charges



ENCUMBRANCE 10

Date of Creation

:

24/11/2005

Description Of Charge

:

DEED OF ASSIGNMENT & FACILITIES AGREEMENT

 

Amount Secured

:

RM7,010,000.00

Description Of Property Affected

:

HS(D) 27098, PT 5, MK & DIST PETALING

 

Name & Address Of Chargee

:

MALAYAN BANKING BHD

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 12 In The Register of Charges

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.83.54

Euro

1

Rs.70.90

 

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.