|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MACHINERY & INDUSTRIAL SUPPLIES SDN. BHD. |
|
|
|
|
Formerly Known As : |
SYARIKAT MACHINERY & INDUSTRIAL SUPPLIES SDN BHD |
|
|
|
|
Registered Office : |
Lot 6.05, Level 6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.10.1975 |
|
|
|
|
Com. Reg. No.: |
24972-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading in machinery & industrial parts supplies |
|
|
|
|
No. of Employees : |
25 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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. |
: |
24972-V |
||||
|
COMPANY NAME |
: |
MACHINERY & INDUSTRIAL SUPPLIES SDN. BHD. |
||||
|
FORMER NAME |
: |
SYARIKAT MACHINERY & INDUSTRIAL SUPPLIES SDN BHD (02/04/1991) |
||||
|
INCORPORATION DATE |
: |
29/10/1975 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 6.05, LEVEL 6, KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA, 47800
PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
19 JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-92219898 |
||||
|
FAX.NO. |
: |
03-92217878 |
||||
|
EMAIL |
: |
ENQUIRY@SMIS.COM.MY |
||||
|
WEB SITE |
: |
WWW.SMIS.COM.MY |
||||
|
CONTACT PERSON |
: |
NG WAI KEE ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
465 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING IN MACHINERY & INDUSTRIAL PARTS SUPPLIES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 7,210,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 18,429,947 [2012] |
||||
|
NET WORTH |
: |
MYR 17,971,682 [2012] |
||||
|
STAFF STRENGTH |
: |
25 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
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) trading in machinery
& industrial parts supplies.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the SC is SMIS CORPORATION BERHAD, a
company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 10,000,000.00 |
MYR 7,210,000.00 |
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SMIS CORPORATION BERHAD |
LOT 6.05, LEVEL 7, KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, 47800
PETALING JAYA, SELANGOR, MALAYSIA. |
491857V |
7,210,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
7,210,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. NG WAI KEE |
|
Address |
: |
19 JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
711004-10-5311 |
|
Date of Birth |
: |
04/10/1971 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/02/1999 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. NG ENG BEE |
|
Address |
: |
B-17-6,NO 39,JALAN 1/76, MUTIARA UPPER EAST,AMPANG CONDO, DESA PANDAN,
55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
550307-01-5597 |
|
Date of Birth |
: |
07/03/1955 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/10/1975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MS. YAP SIEW FOONG |
|
Address |
: |
7, PERSIARAN NEGERI SEMBILAN, FEDERAL HILL, 50480 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
440929-10-5186 |
|
Date of Birth |
: |
29/09/1944 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/10/1975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
KRISHNAMURTHY PADMANABHAN |
|
|
|
|
|
IC / PP No |
: |
Z1809273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
18/03/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
NG WAI KEE |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
BAKER TILLY MONTEIRO HENG |
|
Auditor' Address |
: |
BAKER TILLY MH TOWER, LEVEL 10,TOWER 1,AVENUE 5, BANGSAR SOUTH CITY,
59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. LIEW IRENE |
|
|
IC / PP No |
: |
A1475711 |
|
|
New IC No |
: |
700227-10-5112 |
|
|
Address |
: |
LOT 32, JALAN KUARI, KAMPUNG CHERAS BARU, 56100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. CHOONG LEE WAH |
|
|
|
|
|
|
|
New IC No |
: |
720801-14-5732 |
|
|
Address |
: |
NO.20, JALAN 3, DESA JAYA, KEPONG, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
19/04/1978 |
CHARGE |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 290,000.00 |
Unsatisfied |
|
2 |
27/03/1980 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 1,220,000.00 |
Satisfied |
|
4 |
19/11/1982 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 560,000.00 |
Satisfied |
|
5 |
19/11/1982 |
N/A |
LEE WAH BANK LTD |
MYR 200,000.00 |
Satisfied |
|
6 |
26/03/1984 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 310,000.00 |
Satisfied |
|
7 |
12/12/1984 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 760,000.00 |
Satisfied |
|
8 |
14/01/1991 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 1,250,000.00 |
Satisfied |
|
9 |
03/12/1991 |
N/A |
HONGKONG BANK MALAYSIA BHD |
N/A |
Satisfied |
|
10 |
25/02/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 4,100,000.00 |
Satisfied |
|
11 |
25/02/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 1,800,000.00 |
Satisfied |
|
12 |
03/11/1992 |
N/A |
FULCRUM CAPITAL SDN BHD |
MYR 4,150,000.00 |
Satisfied |
|
13 |
25/09/1993 |
CHARGE |
INTRADAGANG MERCHANT BANKERS M BHD |
MYR 3,000,000.00 |
Unsatisfied |
|
14 |
22/10/1993 |
CHARGE |
ARABMALAYSIA FINANCE BHD |
MYR 650,000.00 |
Unsatisfied |
|
15 |
10/03/1994 |
N/A |
HONGKONG BANK MALAYSIA BERHAD |
N/A |
Satisfied |
|
16 |
04/12/1997 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 675,000.00 |
Satisfied |
|
17 |
04/12/1997 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 675,000.00 |
Satisfied |
|
18 |
04/12/1997 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
N/A |
Satisfied |
|
19 |
04/12/1997 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
N/A |
Satisfied |
|
20 |
09/08/2004 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 100,000.00 |
Satisfied |
|
21 |
31/12/2007 |
TRADE FINANCING GENERAL AGREEMENT |
HSBC BANK MALAYSIA BHD |
MYR 5,000,000.00 |
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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC refused to disclose its clientele.
|
Goods Traded |
: |
TRANSMISSION & CONVEYOR PRODUCTS, BALL BEARING, TUBING, ROD,
SHEET,CONVEYOR BELTS, INDUSTRIAL BELTS, POSITIVE DISPLACEMENT PUMP, WORMGEAR SPEED
REDUCER, S/STEEL WIRE MESH, MESH BELTS, MESH DEMISTER, MISTCOLLECTOR, SPUR,
WORM, HELICAL, MILTER, BEVEL & RACK GEARS
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
SMI ASSOCIATION OF MALAYSIA |
|
|
|
|
|
|
|
Ownership of premises |
: |
OWNED
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
2012 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
25 |
25 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading in machinery &
industrial parts supplies.
The SC is supplier of products, customer solutions and services in the
machinery and industrial sectors.
We were informed that the SC has in-house warehousing facility that keep all
the stocks and material of their products.
The SC's products are :
- transmission & conveyor products
- ball bearing
- tubing
- rod
- sheet
- conveyor belts
- industrial belts
- positive displacement pump
- wormgear speed reducer
- s/steel wire mesh
- mesh belts
- mesh demister
- mistcollector
- spur
- worm
- helical
- milter
- bevel
- rack gears
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-92219898 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
DIR ADD |
|
Current Address |
: |
19 JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
N/A |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 10th December 2013 we contacted one of the staff from the SC and she
provided some information on the SC.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.89% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.82% |
] |
|
|
|
|
|
|
|
|
|
|
The SC's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The management
had succeeded in turning the SC into a profit making company. The profit could
be due to better control of its operating costs and efficiency in utilising
its resources. The unfavourable return on shareholders' funds could indicate
that the SC was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Favourable |
[ |
6.42 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC was in good 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 |
: |
Favourable |
[ |
0.15 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liabilities ratio has minimised the SC's financial risk. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The higher turnover had helped to reduce the SC's losses. 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 has a low liabilities ratio. It's
liabilities were low and was not vulnerable to the financial risk. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : STRONG |
||||||
|
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 |
|
|
465 : Wholesale of machinery, equipment and supplies |
|
|
|
|
|
INDUSTRY : |
MACHINERY |
|
|
|
|
|
|
|
Malaysia is presently the leading manufacturer of automation machinery
and equipment (M&E) for the electrical and electronics (E&E) industry
in the ASEAN region with a total of 22 companies in production. The machinery
and equipment industry has expanded and produce a diverse range of machinery
which give importance to the overall industrial development of the country,
due to its cross cutting linkages with all industrial sectors. |
|
|
|
|
|
Malaysia implemented Industrial Master Plan 3 (IMP3, 2006-2020), which
the machinery and equipment industry has been established as one of the key
areas for growth and development. The implementation focused on the
manufacture of high value-added and high technology machinery and equipment
(M&E). Under this plan, M&E will positioned Malaysia as the regional
production hub for high technology and specialized M&E in the ASEAN
region for 2012. |
|
|
|
|
|
Furthemore for the year 2012, Malaysia is the largest manufacturing
hub of boilers in the Southeast Asia region. The exports are mainly directed
to the neighboring countries such as Indonesia, Philippines, Thailand and
Cambodia. Exports of machinery and equipment registered a double-digit growth
of 12.6% in the frst seven month of 2012 mainly driven by general industrial
machinery and equipment as well as specialised machinery for specific
industries. |
|
|
|
|
|
For enhance the machinery and equipment (M&E), the government has
introduced two major tax incentives for companies investing in the
manufacturing sector where the pioneer status and the investment tax
allowance. The tax incentives would remain to be a competitive industry
within ASEAN. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 1975, the SC is a Private Limited company, focusing on
trading in machinery & industrial parts supplies. The SC has been in business
for over 3 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. The SC is well
backed by a listed company shareholders which would stimulate further growth
for the SC. Hence, the potential growth of the SC is positive. The capital
standing of the SC is fair. With an adequate share capital, the SC has the
potential of expanding its business in future.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year
End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
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 |
SUMMARY |
SUMMARY |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
18,429,947 |
18,061,828 |
15,164,510 |
12,882,262 |
18,496,277 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
18,429,947 |
18,061,828 |
15,164,510 |
12,882,262 |
18,496,277 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,417,741 |
<4,070,574> |
801,937 |
304,320 |
919,913 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
1,417,741 |
<4,070,574> |
801,937 |
304,320 |
919,913 |
|
Taxation |
<144,666> |
<427,489> |
<344,709> |
<155,923> |
<718,284> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
1,273,075 |
<4,498,063> |
457,228 |
148,397 |
201,629 |
|
Minority interests |
144,666 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
1,417,741 |
<4,498,063> |
457,228 |
148,397 |
201,629 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
1,417,741 |
<4,498,063> |
457,228 |
148,397 |
201,629 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
9,343,941 |
19,962,004 |
19,504,776 |
19,356,379 |
19,154,750 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
9,343,941 |
19,962,004 |
19,504,776 |
19,356,379 |
19,154,750 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
10,761,682 |
15,463,941 |
19,962,004 |
19,504,776 |
19,356,379 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
<6,120,000> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
10,761,682 |
9,343,941 |
19,962,004 |
19,504,776 |
19,356,379 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
- |
- |
8,708 |
7,646 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
8,708 |
7,646 |
- |
|
|
|
============= |
============= |
============= |
|
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
4,222,895 |
2,939,974 |
3,048,262 |
2,974,796 |
2,500,977 |
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Investment properties |
- |
- |
1,055,351 |
1,090,614 |
- |
|
Investments |
- |
- |
820,209 |
4,717,326 |
- |
|
Deferred assets |
- |
- |
800,189 |
737,230 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
1,119,552 |
2,675,749 |
6,545,170 |
3,143,664 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
4,222,895 |
4,059,526 |
5,724,011 |
9,519,966 |
5,644,641 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
- |
- |
5,421,262 |
7,257,400 |
- |
|
Trade debtors |
- |
- |
4,669,575 |
3,631,150 |
- |
|
Other debtors, deposits & prepayments |
- |
- |
138,892 |
136,607 |
- |
|
Amount due from holding company |
- |
- |
5,120,000 |
5,120,000 |
- |
|
Amount due from related companies |
- |
- |
21,042 |
18,954 |
- |
|
Cash & bank balances |
- |
- |
7,664,235 |
2,001,265 |
- |
|
Others |
- |
- |
345,981 |
196,907 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
16,467,637 |
15,389,107 |
23,380,987 |
18,362,283 |
23,639,820 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
20,690,532 |
19,448,633 |
29,104,998 |
27,882,249 |
29,284,461 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
- |
1,306,475 |
1,054,365 |
- |
|
Other creditors & accruals |
- |
- |
506,310 |
113,108 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2,565,472 |
2,750,026 |
1,812,785 |
1,167,473 |
2,718,082 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
13,902,165 |
12,639,081 |
21,568,202 |
17,194,810 |
20,921,738 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
18,125,060 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
10,761,682 |
9,343,941 |
19,962,004 |
19,504,776 |
19,356,379 |
|
Others |
- |
144,666 |
120,209 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
10,761,682 |
9,488,607 |
20,082,213 |
19,504,776 |
19,356,379 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
17,971,682 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
TOTAL LONG TERM LIABILITIES |
153,378 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
18,125,060 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
|
============= |
============= |
============= |
============= |
============= |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
- |
- |
7,664,235 |
2,001,265 |
- |
|
Net Liquid Funds |
- |
- |
7,664,235 |
2,001,265 |
- |
|
Net Liquid Assets |
13,902,165 |
12,639,081 |
16,146,940 |
9,937,410 |
20,921,738 |
|
Net Current Assets/(Liabilities) |
13,902,165 |
12,639,081 |
21,568,202 |
17,194,810 |
20,921,738 |
|
Net Tangible Assets |
18,125,060 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
Net Monetary Assets |
13,748,787 |
12,639,081 |
16,146,940 |
9,937,410 |
20,921,738 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
- |
- |
0 |
0 |
- |
|
Total Liabilities |
2,718,850 |
2,750,026 |
1,812,785 |
1,167,473 |
2,718,082 |
|
Total Assets |
20,690,532 |
19,448,633 |
29,104,998 |
27,882,249 |
29,284,461 |
|
Net Assets |
18,125,060 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
Net Assets Backing |
17,971,682 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
Shareholders' Funds |
17,971,682 |
16,698,607 |
27,292,213 |
26,714,776 |
26,566,379 |
|
Total Share Capital |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
7,210,000 |
|
Total Reserves |
10,761,682 |
9,488,607 |
20,082,213 |
19,504,776 |
19,356,379 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
- |
- |
4.23 |
1.71 |
- |
|
Liquid Ratio |
- |
- |
9.91 |
9.51 |
- |
|
Current Ratio |
6.42 |
5.60 |
12.90 |
15.73 |
8.70 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
- |
- |
130 |
206 |
- |
|
Debtors Ratio |
- |
- |
112 |
103 |
- |
|
Creditors Ratio |
- |
- |
31 |
30 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
- |
- |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
0.15 |
0.16 |
0.07 |
0.04 |
0.10 |
|
Times Interest Earned Ratio |
- |
- |
93.09 |
40.80 |
- |
|
Assets Backing Ratio |
2.51 |
2.32 |
3.79 |
3.71 |
3.68 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
7.69 |
<22.54> |
5.29 |
2.36 |
4.97 |
|
Net Profit Margin |
7.69 |
<24.90> |
3.02 |
1.15 |
1.09 |
|
Return On Net Assets |
7.82 |
<24.38> |
2.97 |
1.17 |
3.46 |
|
Return On Capital Employed |
7.82 |
<24.38> |
2.97 |
1.17 |
3.46 |
|
Return On Shareholders' Funds/Equity |
7.89 |
<26.94> |
1.68 |
0.56 |
0.76 |
|
Dividend Pay Out Ratio (Times) |
- |
1.36 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
|
- |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.