|
Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MALBEN POLYMER SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 1005, 10th Floor, Komplek Selangor, Jalan Sultan, 50000 Kuala
Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.03.2010 |
|
|
|
|
Com. Reg. No.: |
895459-X |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Export and Import of Rubber |
|
|
|
|
No. of Employees : |
2 |
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 : |
Slow but Correct |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. 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 about 35% of government revenue in
2011. Bank Negera Malaysia (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 |
|
REGISTRATION NO. |
: |
895459-X |
|
COMPANY NAME |
: |
MALBEN POLYMER SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
26/03/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
SUITE 1005, 10TH FLOOR, KOMPLEK SELANGOR, JALAN SULTAN, 50000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
SENTRAL BUSINESS PARK, A21-3A, JALAN TKS 1, TAMAN KAJANG SENTRAL,
43000 KAJANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-87345488 |
|
FAX.NO. |
: |
03-87349588 |
|
CONTACT PERSON |
: |
MATHEW THAZHATHUKUNNEL THOMAS ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
46201 |
|
PRINCIPAL ACTIVITY |
: |
EXPORT AND IMPORT OF RUBBER |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 18,808,336 [2012] |
|
NET WORTH |
: |
MYR 1,044,091 [2012] |
|
BANKER (S) |
|
HSBC BANK MALAYSIA BHD |
|
STAFF STRENGTH |
: |
2 [2013] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) export and import of
rubber.
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 |
(%) |
|
MELWIN MATHEWS + |
MALAYA RAINBOW CASTLE JAWAHARLALNEHRU, STADIUM RD KARANA-KODAM,
ERNAKULAN KERALA 682 025, INDIA. |
H7837225 |
250,000.00 |
25.00 |
|
MEGHA MATHEWS + |
MALAYA RAINBOW CASTLE JAWAHARLALNEHRU, STADIUM RD KORANA-KODAM,
ERNAKULAN KERALA 682 025, INDIA. |
H8245006 |
249,999.00 |
25.00 |
|
MATHEW THAZHATHUKUNNEL THOMAS + |
MALAYA RAINBOW CASTLE POO, IMA JN STADIUM ROAD, PALARIVATTOM PO
ERNAKULAM KERALA 682025, INDIA. |
Z1972128 |
249,999.00 |
25.00 |
|
MALAYA TRADE IMPEX PVT. LTD. |
RUBBER BHAVAN, MALAYA CORNER, M.C. ROAD, KODIMATHA KOTTAYAM-PIN, 686
039, INDIA. |
INXLZ00215265 |
125,000.00 |
12.50 |
|
MR. ALFRED NETTO + |
NO 5, JALAN DUA, TAMAN SRI BUKIT, JALAN BUKIT, 43000 KAJANG, SELANGOR,
MALAYSIA. |
881003-05-5537 |
1.00 |
0.00 |
|
MR. LAWRENCE ERIC NETTO A/L A A NETTO + |
NO.5, JALAN DUA, TAMAN SRI BUKIT, JALAN BUKIT, 43000 KAJANG, SELANGOR,
MALAYSIA. |
500107-01-5327 |
1.00 |
0.00 |
|
LIYA MATHEW |
MALAYA RAINBOW CASTLE, JAWAHARLALNEHRU STADIUM RD, KARANA-KODAM,
ERNAKULAM, KERALA-682025, INDIA. |
H6937919 |
125,000.00 |
12.50 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. ALFRED NETTO |
|
Address |
: |
NO 5, JALAN DUA, TAMAN SRI BUKIT, JALAN BUKIT, 43000 KAJANG, SELANGOR,
MALAYSIA. |
|
New IC No |
: |
881003-05-5537 |
|
Date of Birth |
: |
03/10/1988 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/02/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. LAWRENCE ERIC NETTO A/L A A NETTO |
|
Address |
: |
NO.5, JALAN DUA, TAMAN SRI BUKIT, JALAN BUKIT, 43000 KAJANG, SELANGOR,
MALAYSIA. |
|
|
|
|
|
New IC No |
: |
500107-01-5327 |
|
Date of Birth |
: |
07/01/1950 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/03/2010 |
DIRECTOR 3
|
Name Of Subject |
: |
MATHEW THAZHATHUKUNNEL THOMAS |
|
Address |
: |
MALAYA RAINBOW CASTLE POO, IMA JN STADIUM ROAD, PALARIVATTOM PO
ERNAKULAM KERALA 682025, INDIA. |
|
IC / PP No |
: |
Z1972128 |
|
Date of Appointment |
: |
26/03/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
MEGHA MATHEWS |
|
Address |
: |
MALAYA RAINBOW CASTLE JAWAHARLALNEHRU, STADIUM RD KORANA-KODAM,
ERNAKULAN KERALA 682 025, INDIA. |
|
IC / PP No |
: |
H8245006 |
|
Date of Appointment |
: |
27/12/2011 |
DIRECTOR 5
|
Name Of Subject |
: |
MELWIN MATHEWS |
|
Address |
: |
MALAYA RAINBOW CASTLE JAWAHARLALNEHRU, STADIUM RD KARANA-KODAM,
ERNAKULAN KERALA 682 025, INDIA. |
|
IC / PP No |
: |
H7837225 |
|
Date of Appointment |
: |
27/12/2011 |
|
1) |
Name of Subject |
: |
MATHEW THAZHATHUKUNNEL THOMAS |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
C C POH & CO |
|
Auditor' Address |
: |
2-1A,JLN.PANDAN 2/1, PANDAN JAYA, 55100 K.LUMPUR., WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. LUAH HEAN KEE @ KOAY HEAN KEE |
|
|
|
|
|
|
|
New IC No |
: |
501224-07-5171 |
|
|
Address |
: |
45,JALAN SS 24/1, TAMAN MEGAH, 47301 PETALING JAYA, SELANGOR,
MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
26/01/2011 |
N/A |
HSBC BANK MALAYSIA BHD |
N/A |
Unsatisfied |
|
001 |
26/01/2011 |
N/A |
HSBC BANK MALAYSIA BHD |
N/A |
Unsatisfied |
* 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.
* 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The SC refused to disclose its suppliers.
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
RUBBER
|
|
|
|
|
|
|
|
Competitor(s) |
: |
GENTING PLANTATIONS BHD
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
2012 |
|
||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
2 |
2 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) export and import of
rubber.
The SC dealing with rubber.
The SC however refused to reveal more information on its operation.
No projects found in our databank
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-87345488 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
SENTRAL BUSINESS PARK NO. AZI-3A JALAN TKSI TAMAN KAJANG SENTRAL 43000
KALANG SEFANGOR |
|
Current Address |
: |
SENTRAL BUSINESS PARK, A21-3A, JALAN TKS 1, TAMAN KAJANG SENTRAL,
43000 KAJANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 5th August 2013 we contacted one of the staff from the SC and he provided
some information on the SC.
The address provided is incorrect.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2010 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
3.44% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.44% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The SC's profit fell sharply because of the
high operating costs incurred. The unfavourable return on shareholders' funds
could indicate that the SC was inefficient in utilising its assets to
generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Acceptable |
[ |
1.36 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC has an adequate liquidity position with its current liabilities
well covered by its current assets. With its net current assets, the SC
should be able to repay its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Unfavourable |
[ |
2.71 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC has high liabilities ratio and it may face financial
difficulties if no additional capital is injected. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The SC recorded lower profits as its turnover showed a erratic trend.
The SC's management was unable to control its costs efficiently as its profit
showed a downward trend. 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's liabilities level was high and its going concern will
be in doubt if there is no injection of additional shareholders' funds in
times of economic downturn and / or high interest rates. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : LIMITED |
||||||
|
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 |
|||||
|
MSIC CODE |
|
|
46201 : Wholesale of rubber |
|
|
INDUSTRY : |
TRADING |
|
|
|
|
According to the Retail Group Malaysia (RGM), the wholesale and retail
trade sector forecast to grow to 6% in year 2013. During the first quarter of
year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers
have been enjoying better sales since the government handed out cash from
mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to
more than 12 million Malaysians. Bookstores and related retail stores have
also started enjoying rising sales since the RM250 1Malaysia Book Voucher was
distributed to 1.3 million private and public university students. Besides,
since early February 2013, handphone traders and retailers selling smartphone
accessories have started to benefit from the RM200 rebate on smartphones for
1.5 million young adults aged between 21 and 30 years with a monthly income
of not more than RM3,000. |
|
|
The wholesale and retail trade sector grew 6.1% in the first half of
the year 2012 driven by strong domestic consumption and the increasing number
of large format stores operating in Malaysia, including 180 foreign
hypermarkets, superstores and departmental stores as at end of August 2012.
In addition, other indicators such as imports of consumption goods were
higher by 15.2%. |
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven
by higher consumption which benefited from Government initiatives under the
2012 Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100
assistance for all primary and secondary school students. The performance of
the sector will also be supported by ongoing efforts to modernise the retail
segment under the ETP. In 2012, 500 retail shops and 50 workshops are
targeted to be modernised under the Retail Shop Transformation (TUKAR) and
Automotive Workshop Modernisation (ATOM) programmes, respectively. As at end
of July 2012, 95 workshops have been modernised, surpassing the yearly
target, while 393 retail shops have been modernised. |
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy. Major
initiatives include increasing the number of large format stores such as
hypermarkets, superstores and departmental stores are carried out to boost
the economy. |
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption, therefore the wholesale and retail sector plays a crucial role
in driving Malaysia’s growth over the next decade despite the ongoing
global economic slowdown. By 2020, Malaysia’s wholesale and retail
sector is expected to boost the country’s total Gross National Income
(GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
Incorporated in 2010, the SC is a Private Limited company, focusing on export
and import of rubber. Having been in the industry for 4 years, the SC has
started to stabilise its business position in the market. The capital standing
of the SC is fair. With an adequate share capital, the SC has the potential of
expanding its business in future.
Apart from supplying its products to the local market, the SC also exports to
overseas countries. Its ability to penetrate into the global market has
benefited the SC in terms of higher profitability and well diversified its
business risk. Hence, better growth prospect can be expected. Being a small
company, the SC's business operation is supported by 2 employees. Overall, we
regard that the SC's management capability is average.
The SC's business performance showed a reverse trend as both its turnover and
pre-tax profit have decreased compared to the previous year. The SC has
generated an unfavourable return on shareholders' funds indicating that the
management was inefficient in utilising its funds to generate return. The SC
managed to maintain an adequate liquidity level, indicating that the SC has the
ability to meet its financial obligations. The SC has high liabilities ratio
and it may face financial difficulties if no additional capital is injected.
Without a strong assets backing, the SC may face difficulties in getting loans
for its future expansion and continued growth.
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.
In view of the above, we recommend credit be granted to the SC with close
monitoring.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
MALBEN POLYMER SDN. BHD. |
|
Financial Year End |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Months |
12 |
12 |
9 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
|
|
|
|
|
|
TURNOVER |
18,808,336 |
20,990,676 |
12,605,217 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
18,808,336 |
20,990,676 |
12,605,217 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
67,394 |
184,869 |
<206,030> |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
67,394 |
184,869 |
<206,030> |
|
Taxation |
<31,495> |
<13,672> |
0 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
35,899 |
171,197 |
<206,030> |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
<34,833> |
<206,030> |
0 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
<34,833> |
<206,030> |
- |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,066 |
<34,833> |
<206,030> |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,066 |
<34,833> |
<206,030> |
|
|
============= |
============= |
============= |
|
MALBEN POLYMER SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
20,945 |
54,375 |
64,303 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
20,945 |
54,375 |
64,303 |
|
CURRENT ASSETS |
|
|
|
|
TOTAL CURRENT ASSETS |
3,854,217 |
5,621,163 |
877,675 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
3,875,162 |
5,675,538 |
941,978 |
|
|
============= |
============= |
============= |
|
CURRENT LIABILITIES |
|
|
|
|
TOTAL CURRENT LIABILITIES |
2,829,276 |
4,663,597 |
104,984 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,024,941 |
957,566 |
772,691 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,045,886 |
1,011,941 |
836,994 |
|
|
============= |
============= |
============= |
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
|
RESERVES |
|
|
|
|
Retained profit/(loss) carried forward |
1,067 |
<34,833> |
<206,030> |
|
Others |
43,024 |
43,024 |
43,024 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
44,091 |
8,191 |
<163,006> |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,044,091 |
1,008,191 |
836,994 |
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
TOTAL LONG TERM LIABILITIES |
1,795 |
3,750 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
1,045,886 |
1,011,941 |
836,994 |
|
|
============= |
============= |
============= |
|
MALBEN POLYMER SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
Net Liquid Assets |
1,024,941 |
957,566 |
772,691 |
|
Net Current Assets/(Liabilities) |
1,024,941 |
957,566 |
772,691 |
|
Net Tangible Assets |
1,045,886 |
1,011,941 |
836,994 |
|
Net Monetary Assets |
1,023,146 |
953,816 |
772,691 |
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Liabilities |
2,831,071 |
4,667,347 |
104,984 |
|
Total Assets |
3,875,162 |
5,675,538 |
941,978 |
|
Net Assets |
1,045,886 |
1,011,941 |
836,994 |
|
Net Assets Backing |
1,044,091 |
1,008,191 |
836,994 |
|
Shareholders' Funds |
1,044,091 |
1,008,191 |
836,994 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
44,091 |
8,191 |
<163,006> |
|
LIQUIDITY (Times) |
|
|
|
|
Current Ratio |
1.36 |
1.21 |
8.36 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Liabilities Ratio |
2.71 |
4.63 |
0.13 |
|
Assets Backing Ratio |
1.05 |
1.01 |
0.84 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
0.36 |
0.88 |
<1.63> |
|
Net Profit Margin |
0.19 |
0.82 |
<1.63> |
|
Return On Net Assets |
6.44 |
18.27 |
<24.62> |
|
Return On Capital Employed |
6.44 |
18.27 |
<24.62> |
|
Return On Shareholders' Funds/Equity |
3.44 |
16.98 |
<24.62> |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.95.76 |
|
Euro |
1 |
Rs.81.76 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.