|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PFC ENGINEERING SDN. BHD. |
|
|
|
|
Formerly Known As : |
PERWAJA FABRICATION CENTRE SDN BHD |
|
|
|
|
Registered Office : |
Maju Tower, 1001 Jalan Sultan Ismail, Level 22, 50250 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
28.06.1993 |
|
|
|
|
Com. Reg. No.: |
268327-K |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Provision of oil & gas engineering work |
|
|
|
|
No. of Employees : |
150 [2013] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
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 – 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
* Adopted
abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
268327-K |
||||
|
COMPANY NAME |
` |
PFC ENGINEERING
SDN. BHD. |
||||
|
FORMER NAME |
: |
PERWAJA FABRICATION CENTRE SDN BHD
(14/03/2002) |
||||
|
INCORPORATION DATE |
: |
28/06/1993 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
MAJU TOWER, 1001 JALAN SULTAN ISMAIL,
LEVEL 22, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
MAJU TOWER, 1001 JALAN SULTAN ISMAIL,
LEVEL 22, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-27728777 |
||||
|
FAX.NO. |
: |
03-27728780 |
||||
|
WEB SITE |
: |
|||||
|
CONTACT PERSON |
: |
ABU TALIB BIN MOHAMED ( MANAGING DIRECTOR
) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
77306 |
||||
|
PRINCIPAL ACTIVITY |
: |
PROVISION OF OIL & GAS ENGINEERING
WORK |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 381,610,000 [2011] |
||||
|
NET WORTH |
: |
MYR 87,125,000 [2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
150 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
FAIR |
||||
|
MANAGEMENT CAPABILITY |
: |
GOOD |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) provision of oil
& gas engineering work.
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 |
(%) |
|
DATO' ABU TALIB BIN MOHAMED + |
21, JALAN 16/6, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
480823-01-5445 0736052 |
8,000,000.00 |
80.00 |
|
MR. MUAMMAR GADAFFI BIN ABU TALIB + |
21, JALAN 16/6, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
751211-02-5951 A3330090 |
2,000,000.00 |
20.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
10,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
Local No |
Country |
Company |
(%) |
As At |
|
614632T |
MALAYSIA |
PFCE-PONTEROSSO SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
831882D |
MALAYSIA |
PFCE INTERNATIONAL SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
845241T |
MALAYSIA |
PFCE SELATAN SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
898066H |
MALAYSIA |
PFCE CENTRAL SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
387315X |
MALAYSIA |
PFCE-CG SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
674973M |
MALAYSIA |
PFCE DAGANG SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
270656X |
MALAYSIA |
PM SOLUTIONS SDN. BHD. |
100.00 |
29/03/2013 |
|
|
|
|
|
|
|
834399X |
MALAYSIA |
PRECISE CALIBRATION SDN. BHD. |
100.00 |
31/12/2011 |
|
|
|
|
|
|
|
930990K |
MALAYSIA |
MACES CHEMICALS SDN. BHD. |
75.00 |
29/03/2013 |
|
|
|
|
|
|
|
574348V |
MALAYSIA |
PFCE OCEAN ENGINEERING SDN. BHD. |
70.00 |
29/03/2013 |
|
|
|
|
|
|
|
011100 |
INDONESIA |
PT PFCE INDONESIA |
51.00 |
31/12/2011 |
|
|
|
|
|
|
|
431255D |
MALAYSIA |
PFCE PLANT TURNAROUND AND SERVICES SDN. BHD. |
51.00 |
29/03/2013 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. AZMAN BIN MOHD |
|
Address |
: |
19, LORONG 3/1A, TAMAN MELOR, MALAYSIA. |
|
IC / PP No |
: |
A0369602 |
|
New IC No |
: |
660408-10-5601 |
|
Date of Birth |
: |
08/04/1966 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/10/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. ABDUL MALEK BIN OMAR |
|
Address |
: |
11A, JALAN USJ 18/3A, 47630 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6252172 |
|
New IC No |
: |
610726-04-5469 |
|
Date of Birth |
: |
26/07/1961 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/08/1999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. MUAMMAR GADAFFI BIN ABU TALIB |
|
Address |
: |
21, JALAN 16/6, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3330090 |
|
New IC No |
: |
751211-02-5951 |
|
Date of Birth |
: |
11/12/1975 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/03/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
DATO' ABU TALIB BIN MOHAMED |
|
Address |
: |
21, JALAN 16/6, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
0736052 |
|
New IC No |
: |
480823-01-5445 |
|
Date of Birth |
: |
23/08/1948 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/11/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
ABU TALIB BIN MOHAMED |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
CROWE HORWATH |
|
Auditor' Address |
: |
TOWER C, MEGAN AVENUE II, 12, JALAN YAP KWAN SENG, LEVEL 16, 50450
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. FARAH DIBA BINTI ABU TALIB |
|
|
|
|
|
|
|
New IC No |
: |
780610-10-5708 |
|
|
Address |
: |
21, JALAN 16/6, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. CHAN LAI CHOON |
|
|
IC / PP No |
: |
5015784 |
|
|
New IC No |
: |
560815-08-6614 |
|
|
Address |
: |
80, PERSIARAN ZAABA, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
BANK ISLAM MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
4) |
Name |
: |
BANK MUAMALAT MALAYSIA BHD |
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
02/07/2003 |
N/A |
MALAYAN BANKING BERHAD |
MYR 500,000.00 |
Satisfied |
|
2 |
06/01/2004 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 3,625,427.57 |
Unsatisfied |
|
3 |
07/07/2004 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 4,300,000.00 |
Satisfied |
|
4 |
10/09/2004 |
N/A |
MALAYAN BANKING BERHAD |
N/A |
Unsatisfied |
|
5 |
29/10/2004 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 3,467,726.31 |
Unsatisfied |
|
6 |
15/05/2008 |
DEBENTURE |
BANK MUAMALAT MALAYSIA BHD |
MYR 4,327,320.48 |
Unsatisfied |
|
7 |
22/05/2008 |
MEMO OF DEPOSIT |
BANK ISLAM MALAYSIA BHD |
MYR 28,785,000.00 |
Unsatisfied |
|
8 |
26/09/2008 |
THE FACILITY AGREEMENT,
THE 2ND DEBENTURE, THE ASSIGNMENT OF CONTRACT PAYMENTS, THE MEMO OF DEPOSIT
OF FIXED DEPOSIT RECEIPT & LETTER OF SETOFF |
MALAYAN BANKING BHD |
MYR 33,000,000.00 |
Unsatisfied |
|
9 |
31/07/2009 |
N/A |
MALAYAN BANKING BHD |
N/A |
Satisfied |
|
10 |
31/07/2009 |
N/A |
MALAYAN BANKING BHD |
MYR 179,500,000.00 |
Satisfied |
|
11 |
02/11/2010 |
DEED ASSIGNMENT |
MALAYAN BANKING BHD |
MYR 160,400,000.00 |
Unsatisfied |
|
12 |
02/11/2010 |
DEED OF
ASSIGNMENT |
MALAYAN BANKING BHD |
MYR 160,400,000.00 |
Unsatisfied |
|
13 |
02/11/2010 |
MEMORANDUM OF
DEPOSIT |
MALAYAN BANKING BHD |
MYR 160,400,000.00 |
Unsatisfied |
|
14 |
28/01/2011 |
DEED OF
ASSIGNMENT |
MAYBANK ISLAMIC BERHAD |
MYR 30,349,010.66 |
Satisfied |
|
15 |
28/01/2011 |
MEMORANDUM OF
DEPOSIT |
MAYBANK ISLAMIC BERHAD |
MYR 30,349,010.66 |
Satisfied |
|
16 |
20/05/2011 |
N/A |
MALAYAN BANKING BHD |
MYR 25,000,000.00 |
Unsatisfied |
|
17 |
20/05/2011 |
N/A |
MALAYAN BANKING BHD |
MYR 25,000,000.00 |
Unsatisfied |
|
18 |
20/05/2011 |
N/A |
MALAYAN BANKING BHD |
MYR 58,000,000.00 |
Unsatisfied |
|
19 |
20/05/2011 |
N/A |
MALAYAN BANKING BHD |
MYR 58,000,000.00 |
Unsatisfied |
|
20 |
08/07/2011 |
N/A |
MAYBANK ISLAMIC BERHAD |
MYR 6,107,219.94 |
Unsatisfied |
|
21 |
12/08/2011 |
N/A |
BANK ISLAM MALAYSIA BHD |
MYR 46,558,000.00 |
Unsatisfied |
|
22 |
12/08/2011 |
N/A |
BANK ISLAM MALAYSIA BHD |
MYR 46,558,000.00 |
Unsatisfied |
|
23 |
03/01/2012 |
N/A |
MALAYAN BANKING BHD |
MYR 10,000,000.00 |
Unsatisfied |
|
24 |
04/04/2012 |
N/A |
BANK ISLAM MALAYSIA BHD |
MYR 13,000,000.00 |
Unsatisfied |
|
25 |
02/05/2012 |
N/A |
BANK ISLAM MALAYSIA BHD |
MYR 23,000,000.00 |
Unsatisfied |
|
26 |
11/07/2012 |
DEAD OF
ASSIGNMENT OF CONTRACT PROCEEDS |
BANK ISLAM MALAYSIA BERHAD |
MYR 96,000,000.00 |
Unsatisfied |
|
27 |
11/07/2012 |
DEED OF
DEBENTURE |
BANK ISLAM MALAYSIA BERHAD |
MYR 96,000,000.00 |
Unsatisfied |
|
28 |
11/07/2012 |
MEMORANDUM OF
DEPOSIT OF INVESTMENT ACCOUNT CERTIFICATE |
BANK ISLAM MALAYSIA BERHAD |
MYR 96,000,000.00 |
Unsatisfied |
* A check has been conducted in our databank against 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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
The SC refused to provide any name of trade/service supplier and we are unable to
conduct any trade enquiry. However, from financial historical data we conclude
that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
X |
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
OIL & GAS INDUSTRIES,PETROCHEMICAL
INDUSTRIES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services |
: |
OIL & GAS ENGINEERING
|
||
|
|
|
|
||
|
Award |
: |
1 ) MS ISO 9001 : 2000 Year :2004
|
||
|
|
|
|
||
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE) |
||
|
|
|
|
||
|
Ownership of premises |
: |
OWNED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2012 |
2011 |
|
|||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
150 |
130 |
130 |
|
|
|
|
|
|
|
Branch |
: |
YES
|
Other
Information:
The SC is principally engaged in the (as a / as an) provision of oil & gas
engineering work.
The SC has established itself as one of the leading players in the Malaysian
Oil & Gas Industry. Well entrenched in both upstream and downstream aspects
of the business.
The SC has proven its commitment and quality of work through the award of some
15 Price Agreements (PAs) or long-term contracts of maintenance works with
various subsidiaries of the Petronas Group of Companies. These PAs range from Mechanical
Works to Plant Turnarounds and include some of Petronas Groups' major
facilities such as Petronas Gas Berhad, Malaysia LNG and also Petronas
Carigali.
With dedicated facilities for various activities, the SC has emerged as the
leading "Engineering Services Supermarket" with integrated facilities
for a wide range of services.
The SC has been continuously improving its services through strategic
partnerships and alliances in bringing forth new technological solutions to its
customers.
The services that the SC is able to undertake in-house include the following:
* Project & Turnaround Management Services
* Plant Engineering Services
* Plant Maintenance Services
* Fabrication, Machining & Mechanical Services
* Electrical and Instrumentation (E&I) and Automation Engineering Services
* Chemicals Supplies Services (Process & Water Treatment Plant (WTP),
Marine/Offshore)
Besides that the SC also provides others services as follows:-
* Crane Services
* Water Engineering
* Valve & Rotating Machineries
* Flame Spray Coating Technology
* Foundry & Casting Works
* Marine Support Services & SBM Maintenance
The SC also provides OEM Service as well as Design Service for its
customers.
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
+306 2772 8777 |
|
Current Telephone Number |
: |
03-27728777 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
LEVEL 22 MAJU TOWER 1001 JALAN SULTAN ISMAIL
50250 KUALA LUMPUR MALAYSIA |
|
Current Address |
: |
MAJU TOWER, 1001 JALAN SULTAN ISMAIL,
LEVEL 22, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
we contacted one of the
staff from the SC and she provided some information on the SC.
FINANCIAL ANALYSIS
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
33.32% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
47.15% |
] |
|
|
|
|
|
|
|
|
|
|
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. Generally the SC was profitable.
The favourable return on shareholders' funds and return on net assets
indicate that the SC's management was efficient in utilising the assets to
generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
44 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
92 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the SC. The unfavourable creditors' ratio could be due to the
SC taking advantage of the credit granted by its suppliers. However this may
affect the goodwill between the SC and its suppliers and the SC may
inadvertently have to pay more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.13 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.13 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be
maintained by the SC in order to assure its creditors of its ability to meet
short term obligations and the SC was in a good liquidity position. Thus, we believe
the SC is able to meet all its short term obligations as and when they fall
due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
17.62 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.01 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the SC was
able to service the interest. The favourable interest cover could indicate
that the SC was making enough profit to pay for the interest accrued. The SC was
highly geared, thus it had a high financial risk. The SC was dependent on
loans to finance its business needs. In times of economic downturn and / or
high interest rate, the SC will become less profitable and competitive than
other firms in the same industry, which are lowly geared. This is because the
SC has to service the interest and to repay the loan, which will erode part
of its profits. The profits will fluctuate depending on the SC's turnover and
the interest it needs to pay. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. With the favourable interest cover, the SC could be able to
service all the accrued interest without facing any difficulties. The SC's
gearing 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 : STABLE |
||||||
|
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 |
- |
|
|
|
|
|
|
|
|
|
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 |
|
|
77306 : Renting and operational leasing of construction and
civil-engineering machinery and equipment without operator |
|
|
|
|
|
INDUSTRY : |
BUSINESS SERVICES |
|
|
|
|
|
|
|
The services sector is expected to continue playing an important role
in driving the malaysia economy. The services activity might slow down going forward,
considering that at the global level, the services sector has already taken
some hits. The sector's output expansion was the weakest in the 2010 to 2012
growth period. |
|
|
|
|
|
The services sector is projected to continue to drive growth in 2012. Growth
will be supported by consumer-related sub-sectors, which is likely to cushion
the effects of slower trade-related activity during the year 2012. In the
wholesale and retail service sub-sector, growth will be led by the retail
segment, in line with the trend in private consumption. However, growth in
the wholesale services expected to be lower. Growth in the finance and
insurance sub-sector is expected to remain firm, supported by bank lending
activity. In the insurance segment, growth is expected to emanate from the
general insurance business, following favourable motor vehicle sales and the
implementation of the new motor cover framework which will enhance efficiency
in the motor insurance and takaful sector. |
|
|
|
|
|
Growth in the communication sub-sector is projected to be sustained,
amidst margin compression resulting from rising competition among service
providers. Growth will be supported by the expected launch of advanced
wireless technology, the ongoing widening of the High-Speed Broadband (HSBB)
infrastructure and Government initiatives to promote broadband services
nationwide. In the year 2012, Communication service sector expanded to 9.3%
propelled by the higher consumption in mobile phone services and data
communication. Meanwhile, growth in the transport and storage sub-sector is
anticipated to moderate, amidst the uncertain external outlook. Malaysia’s
banking sector had seen quite an overhaul in the past decade and was now a
model of stability. While it seemed likely that the international situation
would slow lending somewhat in 2012, it would still rise at a respectable
rate, and the long-term path should see further growth and reform. |
|
|
|
|
|
In year 2012, Services sector recorded a growth of 5.8% underpinned by
Wholesale & Retail and Communication. The growth of 5.7% in Wholesale
& Retail Trade service was supported by the expansion in retail segment
particularly in household appliances & equipments, pharmaceutical
products and personal care products services. |
|
|
|
|
|
Accroding to Ministry of Finance, the services sector are expected to
remain upbeat in 2013, with the accelerated implementation with major
initiatives under the National Key Result Areas and continued investment in
the seven services subsectors under the National Key Economic Areas. It said
that these initiatives are expected to drive the wholesale and retail trade,
finance and insurance, and communication subsectors, which are expected to
grow 6.8%, 5.2% and 8.2% respectively. |
|
|
|
|
|
The Business Services sector is a key one which continues to
accelerate changes within specialised areas in many developed nations and
consequently drive higher economic growth and greater efficiency. According
to the Minister of Human Resource, the Business Services sector has a unique
role to play in driving the competitiveness of a wide range of business
segments, industries and professional services. Therefore, the Malaysian
business services sector is on track to contribute RM78.7 billion to the
gross national income (GNP) by 2020. The growth of the service sector are
also expected to create 107,000 new jobs by 2020. |
|
|
|
|
|
Malaysian government has used various measures to promote the
development of its service industries. Policies pursued by the government of Malaysia
in promoting consolidation within the banking sector, encouraging the
development of private hospitals, and investing in port facilities could seek
to strengthen the industries. The Malaysian government has liberalized some
barriers to the foreign provision of services, and recent liberalization
could result in an increase of contribution of services sector to the economy
growth of the country. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
PFC ENGINEERING
SDN. BHD. |
|
Financial Year End |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
381,610,000 |
458,691,000 |
402,148,000 |
139,114,000 |
87,902,000 |
|
Other Income |
1,687,000 |
6,938,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
383,297,000 |
465,629,000 |
402,148,000 |
139,114,000 |
87,902,000 |
|
Costs of Goods Sold |
<282,317,000> |
<403,087,000> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
100,980,000 |
62,542,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
47,760,000 |
25,250,000 |
18,298,000 |
4,392,000 |
<8,982,000> |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED
COMPANIES |
<814,000> |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
46,946,000 |
25,250,000 |
18,298,000 |
4,392,000 |
<8,982,000> |
|
Taxation |
<16,887,000> |
<7,082,000> |
<4,313,000> |
<21,000> |
<410,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
30,059,000 |
18,168,000 |
13,985,000 |
4,371,000 |
<9,392,000> |
|
Minority interests |
<1,033,000> |
<589,000> |
31,000 |
1,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
29,026,000 |
17,579,000 |
14,016,000 |
4,372,000 |
<9,392,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
29,026,000 |
17,579,000 |
14,016,000 |
4,372,000 |
<9,392,000> |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
19,248,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
19,248,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
74,849,000 |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
|
TRANSFER TO RESERVES - General |
2,300,000 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
77,149,000 |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
|
|
|
Bank overdraft |
2,419,000 |
820,000 |
333,000 |
14,000 |
20,000 |
|
Bankers' acceptance |
67,000 |
- |
- |
- |
- |
|
Hire purchase |
252,000 |
161,000 |
32,000 |
22,000 |
18,000 |
|
Term loan / Borrowing |
36,000 |
327,000 |
- |
- |
- |
|
Trust receipts |
51,000 |
- |
1,000 |
97,000 |
69,000 |
|
Others |
- |
145,000 |
191,000 |
336,000 |
233,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,825,000 |
1,453,000 |
557,000 |
469,000 |
340,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
PFC ENGINEERING
SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
57,852,000 |
23,115,000 |
15,240,000 |
10,878,000 |
10,259,000 |
|
|
|
|
|
|
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Associated companies |
15,035,000 |
- |
- |
- |
- |
|
Investments |
30,000 |
30,000 |
87,000 |
87,000 |
- |
|
Deferred assets |
1,485,000 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
16,550,000 |
30,000 |
87,000 |
87,000 |
- |
|
|
|
|
|
|
|
|
INTANGIBLE
ASSETS |
|
|
|
|
|
|
Goodwill on consolidation |
3,847,000 |
191,000 |
191,000 |
191,000 |
191,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
3,847,000 |
191,000 |
191,000 |
191,000 |
191,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
78,249,000 |
23,336,000 |
15,518,000 |
11,156,000 |
10,450,000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
2,000 |
56,000 |
111,000 |
31,000 |
260,000 |
|
Trade debtors |
46,146,000 |
59,100,000 |
74,963,000 |
12,930,000 |
13,865,000 |
|
Other debtors, deposits & prepayments |
16,952,000 |
9,581,000 |
4,808,000 |
4,693,000 |
4,869,000 |
|
Short term deposits |
50,446,000 |
29,956,000 |
18,388,000 |
7,976,000 |
4,776,000 |
|
Amount due from related companies |
11,733,000 |
23,698,000 |
30,798,000 |
27,180,000 |
25,965,000 |
|
Amount due from associated companies |
550,000 |
883,000 |
987,000 |
875,000 |
835,000 |
|
Amount due from director |
15,660,000 |
346,000 |
45,000 |
602,000 |
- |
|
Cash & bank balances |
50,077,000 |
76,086,000 |
67,112,000 |
9,793,000 |
2,282,000 |
|
Amount owing by customer |
52,086,000 |
14,841,000 |
- |
- |
- |
|
Others |
89,000 |
98,000 |
61,114,000 |
22,402,000 |
8,159,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
243,741,000 |
214,645,000 |
258,326,000 |
86,482,000 |
61,011,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
321,990,000 |
237,981,000 |
273,844,000 |
97,638,000 |
71,461,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Trade creditors |
70,779,000 |
68,941,000 |
48,748,000 |
21,272,000 |
15,056,000 |
|
Other creditors & accruals |
18,179,000 |
14,581,000 |
61,631,000 |
12,389,000 |
3,710,000 |
|
Hire purchase & lease creditors |
1,629,000 |
920,000 |
553,000 |
245,000 |
109,000 |
|
Bank overdraft |
49,584,000 |
28,078,000 |
47,260,000 |
6,030,000 |
446,000 |
|
Short term borrowings/Term loans |
2,137,000 |
208,000 |
206,000 |
- |
- |
|
Other borrowings |
- |
- |
19,049,000 |
450,000 |
615,000 |
|
Bill & acceptances payable |
18,481,000 |
910,000 |
19,863,000 |
7,876,000 |
4,894,000 |
|
Amounts owing to related companies |
4,569,000 |
11,799,000 |
21,733,000 |
21,387,000 |
18,266,000 |
|
Amounts owing to director |
2,091,000 |
852,000 |
1,479,000 |
50,000 |
50,000 |
|
Provision for taxation |
32,270,000 |
18,102,000 |
11,480,000 |
7,009,000 |
7,909,000 |
|
Other liabilities |
16,720,000 |
32,583,000 |
471,000 |
431,000 |
4,855,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
216,439,000 |
176,974,000 |
232,473,000 |
77,139,000 |
55,910,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
27,302,000 |
37,671,000 |
25,853,000 |
9,343,000 |
5,101,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
105,551,000 |
61,007,000 |
41,371,000 |
20,499,000 |
15,551,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
10,000,000 |
10,000,000 |
10,000,000 |
5,000,000 |
5,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
10,000,000 |
10,000,000 |
10,000,000 |
5,000,000 |
5,000,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Exchange equalisation/fluctuation reserve |
53,000 |
- |
- |
- |
- |
|
Retained profit/(loss) carried forward |
77,149,000 |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
77,202,000 |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
|
|
|
|
|
|
|
|
MINORITY INTEREST |
<77,000> |
1,648,000 |
780,000 |
522,000 |
523,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
87,125,000 |
57,471,000 |
39,024,000 |
19,750,000 |
15,379,000 |
|
|
|
|
|
|
|
|
LONG TERM
LIABILITIES |
|
|
|
|
|
|
Long term loans |
12,143,000 |
665,000 |
385,000 |
- |
- |
|
Hire purchase creditors |
4,399,000 |
2,871,000 |
1,962,000 |
749,000 |
172,000 |
|
Deferred taxation |
1,884,000 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
18,426,000 |
3,536,000 |
2,347,000 |
749,000 |
172,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
105,551,000 |
61,007,000 |
41,371,000 |
20,499,000 |
15,551,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
PFC ENGINEERING
SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
100,523,000 |
106,042,000 |
85,500,000 |
17,769,000 |
7,058,000 |
|
Net Liquid Funds |
32,458,000 |
77,054,000 |
18,377,000 |
3,863,000 |
1,718,000 |
|
Net Liquid Assets |
27,300,000 |
37,615,000 |
25,742,000 |
9,312,000 |
4,841,000 |
|
Net Current Assets/(Liabilities) |
27,302,000 |
37,671,000 |
25,853,000 |
9,343,000 |
5,101,000 |
|
Net Tangible Assets |
101,704,000 |
60,816,000 |
41,180,000 |
20,308,000 |
15,360,000 |
|
Net Monetary Assets |
8,874,000 |
34,079,000 |
23,395,000 |
8,563,000 |
4,669,000 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
|
Total Borrowings |
88,373,000 |
33,652,000 |
89,278,000 |
15,350,000 |
6,236,000 |
|
Total Liabilities |
234,865,000 |
180,510,000 |
234,820,000 |
77,888,000 |
56,082,000 |
|
Total Assets |
321,990,000 |
237,981,000 |
273,844,000 |
97,638,000 |
71,461,000 |
|
Net Assets |
105,551,000 |
61,007,000 |
41,371,000 |
20,499,000 |
15,551,000 |
|
Net Assets Backing |
87,125,000 |
57,471,000 |
39,024,000 |
19,750,000 |
15,379,000 |
|
Shareholders' Funds |
87,125,000 |
57,471,000 |
39,024,000 |
19,750,000 |
15,379,000 |
|
Total Share Capital |
10,000,000 |
10,000,000 |
10,000,000 |
5,000,000 |
5,000,000 |
|
Total Reserves |
77,202,000 |
45,823,000 |
28,244,000 |
14,228,000 |
9,856,000 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
|
Cash Ratio |
0.46 |
0.60 |
0.37 |
0.23 |
0.13 |
|
Liquid Ratio |
1.13 |
1.21 |
1.11 |
1.12 |
1.09 |
|
Current Ratio |
1.13 |
1.21 |
1.11 |
1.12 |
1.09 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
0 |
0 |
1 |
|
Debtors Ratio |
44 |
47 |
68 |
34 |
58 |
|
Creditors Ratio |
92 |
62 |
44 |
56 |
63 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
|
Gearing Ratio |
1.01 |
0.59 |
2.29 |
0.78 |
0.41 |
|
Liabilities Ratio |
2.70 |
3.14 |
6.02 |
3.94 |
3.65 |
|
Times Interest Earned Ratio |
17.62 |
18.38 |
33.85 |
10.36 |
<25.42> |
|
Assets Backing Ratio |
10.17 |
6.08 |
4.12 |
4.06 |
3.07 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
12.30 |
5.50 |
4.55 |
3.16 |
<10.22> |
|
Net Profit Margin |
7.61 |
3.83 |
3.49 |
3.14 |
<10.68> |
|
Return On Net Assets |
47.15 |
43.77 |
45.58 |
23.71 |
<55.57> |
|
Return On Capital Employed |
31.00 |
29.07 |
20.91 |
17.68 |
<51.38> |
|
Return On Shareholders' Funds/Equity |
33.32 |
30.59 |
35.92 |
22.14 |
<61.07> |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
UK Pound |
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.