|
Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
POWERPOINT ELECTRICAL SDN. BHD. |
|
|
|
|
Registered Office : |
Lots 9240-9243, Section 64, Ktld, Jalan Kwong Lee Bank, 93450 Kuching, Sarawak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
27.10.1987 |
|
|
|
|
Com. Reg. No.: |
165610-D |
|
|
|
|
Legal Form : |
Private Limited |
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|
|
|
Line of Business : |
Trading in machinery & electrical goods |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
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. |
: |
165610-D |
||||
|
COMPANY NAME |
: |
POWERPOINT ELECTRICAL SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
27/10/1987 |
||||
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|
||||
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|
|
||||
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COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
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|
||||
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||||
|
REGISTERED ADDRESS |
: |
LOTS 9240-9243, SECTION 64, KTLD, JALAN KWONG LEE BANK, 93450 KUCHING, SARAWAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 9240-9243, SECTION 64, KTLD, JALAN KWONG LEE BANK, PENDING, 93450 KUCHING, SARAWAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
082-346188 |
||||
|
FAX.NO. |
: |
082-345118 |
||||
|
CONTACT PERSON |
: |
LU NGUANG SIONG ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46522 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING IN MACHINERY & ELECTRICAL GOODS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 4,000,000.00
DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 69,334,018 [2012] |
||||
|
NET WORTH |
: |
MYR 14,516,187 [2012] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
The Subject 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 Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject 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 Subject is insolvent. The Subject 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 Subject is principally engaged in the (as a / as an) trading in machinery & electrical goods.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/03/2010 |
MYR 5,000,000.00 |
MYR 4,000,000.00 |
|
15/04/1997 |
MYR 5,000,000.00 |
MYR 1,000,000.00 |
|
22/10/1992 |
MYR 500,000.00 |
MYR 150,000.00 |
|
09/05/1988 |
MYR 100,000.00 |
MYR 60,000.00 |
|
03/11/1987 |
MYR 100,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. LU NGUANG SIONG + |
323, LORONG 10, JALAN STAMPIN, 93350 KUCHING, SARAWAK, MALAYSIA. |
470305-13-5149 K659872 |
2,600,000.00 |
65.00 |
|
MS. CHAO YEN HONG + |
323, LORONG 10, JALAN STAMPIN, 93350 KUCHING, SARAWAK, MALAYSIA. |
490921-89-5078 133303926 |
1,400,000.00 |
35.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
4,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. CHAO YEN HONG |
|
Address |
: |
323, LORONG 10, JALAN STAMPIN, 93350 KUCHING, SARAWAK, MALAYSIA. |
|
IC / PP No |
: |
133303926 |
|
New IC No |
: |
490921-89-5078 |
|
Date of Birth |
: |
21/09/1949 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/04/2006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. LU NGUANG SIONG |
|
Address |
: |
323, LORONG 10, JALAN STAMPIN, 93350 KUCHING, SARAWAK, MALAYSIA. |
|
IC / PP No |
: |
K659872 |
|
New IC No |
: |
470305-13-5149 |
|
Date of Birth |
: |
05/03/1947 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/10/1987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
LU NGUANG SIONG |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
NGU KOON TENG & CO. |
|
Auditor' Address |
: |
306, LEBUH SEKAMA, 1ST FLOOR, 93300 KUCHING, SARAWAK, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. WONG KIE LING |
|
|
IC / PP No |
: |
K263646 |
|
|
New IC No |
: |
530104-13-5662 |
|
|
Address |
: |
130, JALAN CANNA, 93450 KUCHING, SARAWAK, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HONG LEONG BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
PUBLIC BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
|
|
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
12/03/1992 |
CHARGE |
PUBLIC BANK BERHAD |
MYR 220,000.00 |
Unsatisfied |
|
2 |
28/08/1992 |
CHARGE |
PUBLIC BANK BERHAD |
MYR 80,000.00 |
Unsatisfied |
|
3 |
20/11/1992 |
CHARGE |
PUBLIC BANK BERHAD |
MYR 40,000.00 |
Unsatisfied |
|
4 |
07/04/1995 |
N/A |
BANK UTAMA MALAYSIA BHD |
MYR 600,000.00 |
Satisfied |
|
5 |
24/01/1996 |
N/A |
ARABMALAYSIAN MERCHANT BANK BHD |
MYR 1,280,000.00 |
Satisfied |
|
6 |
05/07/1997 |
N/A |
PUBLIC BANK BHD |
MYR 1,500,000.00 |
Unsatisfied |
|
7 |
16/07/1997 |
N/A |
HONGKONG BANK MALAYSIA BHD |
MYR 1,000,000.00 |
Satisfied |
|
10 |
07/08/1997 |
LOAN AGREEMENT & ASSIGNMENT |
PUBLIC BANK BHD |
MYR 900,000.00 |
Unsatisfied |
|
8 |
20/10/1997 |
CHARGE |
PUBLIC BANK BHD |
MYR 400,000.00 |
Unsatisfied |
|
9 |
20/10/1997 |
CHARGE |
PUBLIC BANK BHD |
MYR 1,400,000.00 |
Unsatisfied |
|
11 |
06/02/2003 |
N/A |
PUBLIC BANK BERHAD |
MYR 1,300,000.00 |
Satisfied |
|
12 |
17/04/2003 |
N/A |
HONG LEONG BANK BERHAD |
MYR 538,222.00 |
Unsatisfied |
|
13 |
17/11/2003 |
N/A |
PUBLIC BANK BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
14 |
17/11/2003 |
N/A |
PUBLIC BANK BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
15 |
22/06/2006 |
N/A |
PUBLIC BANK BHD |
MYR 1,700,000.00 |
Unsatisfied |
|
16 |
15/06/2007 |
N/A |
PUBLIC BANK BHD |
MYR 1,000,000.00 |
Unsatisfied |
|
17 |
20/11/2007 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 3,000,000.00 |
Unsatisfied |
|
18 |
28/01/2008 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,500,000.00 |
Unsatisfied |
|
19 |
16/06/2008 |
CHARGE |
PUBLIC BANK BHD |
MYR 7,000,000.00 |
Unsatisfied |
|
20 |
05/11/2008 |
OPEN CHARGE |
OCBC BANK (MALAYSIA) BHD |
N/A |
Unsatisfied |
|
21 |
10/10/2011 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
N/A |
Unsatisfied |
|
22 |
10/10/2011 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
N/A |
Unsatisfied |
* A check has been conducted in our databank againt the Subject 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 Subject 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 Subject 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 |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
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|
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|
Payment Mode |
: |
CHEQUES |
|||
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|
|
|
|
|
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|
Goods Traded |
: |
MACHINERY AND ELECTRICAL GOODS
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
THE ELECTRICAL AND ELECTRONICS ASSOCIATION OF MALAYSIA (TEEAM) MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) |
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2008 |
|
|||||||
|
|
|||||||||
|
GROUP |
30 |
|
|
|
|
|
|
|
|
|
COMPANY |
N/A |
|
|
|
|
|
|
|
|
|
Branch |
: |
YES
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading in machinery
& electrical goods.
The Subject is primarily engaged as an importer and trader of machinery and
electrical components for utilities industries such as power, water, oil and
gas industries.
The Subject's products comprised of cables, transformers, lightings and others.
The Subject caters for both Lower Voltage (LV) and High Voltage (HV) electrical
appliances.
Besides the Subject also trades several types machineries for the construction
and manufacturing sectors. Most of the machineries are of high technology.
The Subject provides maintenance services upon customers' requirements.
We have checked with the Malaysian National News Agency's (BERNAMA)
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
082-346188 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LOTS 9240-9243 SECT 64 KTLD JALAN KWONG LEE BANK PENDING 93450 KUCHING P O BOX 3223 93762 KUCHING SARAWAK |
|
Current Address |
: |
LOT 9240-9243, SECTION 64, KTLD, JALAN KWONG LEE BANK, PENDING, 93450 KUCHING, SARAWAK, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and she provided some
information on the Subject.
The Subject refused to disclose its number of employees.
The address provided belongs to the Subject's PO Box address.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2010 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
18.02% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.63% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The Subject's management have been efficient in controlling its operating costs. The Subject's management had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
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|
|
|
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|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
103 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The Subject's management was quite efficient in handling its debtors. The Subject's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. The unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.12 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Acceptable |
[ |
8.17 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.19 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was slightly low. If there is no sharp fall in its profit or sudden increase in the interest rates, we believe the Subject is able to generate sufficient income to service its interest and repay the loans. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Generally, the Subject's performance has improved with higher turnover and profit. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. The Subject had an acceptable interest cover. If there is no sudden sharp increase in interest rate or fall in the Subject's profit, we do believe the Subject is able to generate sufficient cash flow to service its interest payment. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
|
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 |
|
|
46522 : Wholesale of electronic components and wiring accessories |
|
|
|
|
|
INDUSTRY : |
ELECTRICAL & ELECTRONIC |
|
|
|
|
|
|
|
The Electrical & Electronics (E&E) industry is the leading industry within the manufacturing sector and is the largest contributor to manufacturing output, employment, investment, exports and imports. Malaysia is a key player in the fast expanding Asia Pacific E&E market, its major export destinations include Singapore, United States, Europe, Japan and Taiwan. The E&E industry is targeted under the National Key Economic Areas ( NKEA ) to gear the nation towards high-income economy by focusing on high-value and high-growth manufacturing activities. |
|
|
|
|
|
According to Ministry of Finance, in the year 2013 the electrical and electronic (E&E) subsector is expected to grow further, driven by higher demand for electronic equipment and parts as well as semiconductors in line with recovery in advanced economies. |
|
|
|
|
|
Output of E&E rebounded 1.6% during the first seven months of 2012 mainly driven by the higher production of semiconductor devices (14.5%) as well as audio, visual and communication apparatus (6%). The improved performance of E&E was partly due to chip vendors and storage producers taking advantage of stable prices and supply of parts to replenish inventories as well as the launching of new products which was delayed by massive floods in Thailand during the fourth quarter of 2011. |
|
|
|
|
|
Despite the slowdown in global demand, E&E manufacturers continued to invest in new technology and product development to upscale the value chain. Approved capital spending in the E&E subsector amounted to RM1.72 billion in 46 projects, of which RM1.35 billion were from foreign investors. This further reaffirms Malaysia as an attractive and cost-efficient E&E manufacturing base in the region. The continued strong investments will further strengthen growth in the E&E subsector and create more skilled jobs. |
|
|
|
|
|
Softening of world demand for solar panels impact Malaysia on it's downturn in small scale compared to China where it facing great impact. The decline in E&E products was also due to the weak global demand. |
|
|
|
|
|
E&E has been instrumental in the development of the Northern Corridor Klang Valley, Johor and Sarawak, contributing significantly to the socio-economic development of the relevant communities.However, the E&E sector faces significant challenges in maintaining growth with intense competition from China, Taiwan, Singapore and other Asian countries. Over the last 10 years, E&E's share of Malaysian exports has gradually declined. |
|
|
|
|
|
Malaysia's E&E sector remains focused on assembly, the lower value-added part of the industry while Taiwan, South Korea and Singapore have captured the higher value-added activities in research and development, design and manufacturing. |
|
|
|
|
|
To propel the E&E industry to a higher level, under the Economic Transformation Programme (ETP) launched by the Government, a few sub-sectors namely integrated circuits, solar photovoltaics, light emitting diodes, and solid state lighting & integrated electronics have been identified for greater promotion based on their potential to contribute significantly towards Gross National Income (GNI) targets 2020. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
POWERPOINT ELECTRICAL SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
|
|
|
|
|
|
TURNOVER |
69,334,018 |
51,975,357 |
36,589,729 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
69,334,018 |
51,975,357 |
36,589,729 |
|
Costs of Goods Sold |
<62,837,149> |
<45,557,052> |
- |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
6,496,869 |
6,418,305 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,541,398 |
3,205,097 |
1,686,797 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
3,541,398 |
3,205,097 |
1,686,797 |
|
Taxation |
<925,184> |
<938,009> |
- |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
2,616,214 |
2,267,088 |
1,686,797 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
7,899,973 |
5,632,885 |
6,946,088 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
7,899,973 |
5,632,885 |
6,946,088 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
10,516,187 |
7,899,973 |
8,632,885 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
<3,000,000> |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
10,516,187 |
7,899,973 |
5,632,885 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
Hire purchase |
8,006 |
6,854 |
- |
|
Term loan / Borrowing |
2,414 |
3,120 |
- |
|
Others |
483,355 |
608,092 |
- |
|
|
---------------- |
---------------- |
|
|
|
493,775 |
618,066 |
|
BALANCE SHEET
|
|
POWERPOINT ELECTRICAL SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
4,712,010 |
9,340,354 |
9,413,099 |
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
Investment properties |
4,876,645 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
4,876,645 |
- |
- |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
9,588,655 |
9,340,354 |
9,413,099 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Stocks |
2,134,084 |
1,475,306 |
- |
|
Trade debtors |
11,886,085 |
7,258,263 |
- |
|
Other debtors, deposits & prepayments |
11,118,422 |
10,558,865 |
- |
|
Short term deposits |
1,145,854 |
803,124 |
- |
|
Amount due from director |
- |
105,952 |
- |
|
Cash & bank balances |
99,189 |
76,810 |
- |
|
Others |
1,687,166 |
1,284,721 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
28,070,800 |
21,563,041 |
18,249,934 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
37,659,455 |
30,903,395 |
27,663,033 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Trade creditors |
17,796,569 |
8,683,244 |
- |
|
Other creditors & accruals |
2,214,445 |
2,675,356 |
- |
|
Hire purchase & lease creditors |
46,821 |
32,512 |
- |
|
Bank overdraft |
2,557,405 |
6,970,840 |
- |
|
Short term borrowings/Term loans |
20,944 |
19,582 |
- |
|
Amounts owing to director |
26,135 |
- |
- |
|
Provision for taxation |
395,135 |
525,326 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
23,057,454 |
18,906,860 |
17,890,258 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
5,013,346 |
2,656,181 |
359,676 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
14,602,001 |
11,996,535 |
9,772,775 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
4,000,000 |
4,000,000 |
4,000,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
4,000,000 |
4,000,000 |
4,000,000 |
|
|
|
|
|
|
RESERVES |
|
|
|
|
Retained profit/(loss) carried forward |
10,516,187 |
7,899,973 |
5,632,885 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
10,516,187 |
7,899,973 |
5,632,885 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
14,516,187 |
11,899,973 |
9,632,885 |
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
Long term loans |
5,465 |
26,402 |
- |
|
Hire purchase creditors |
71,734 |
61,818 |
- |
|
Deferred taxation |
8,615 |
8,342 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
85,814 |
96,562 |
139,890 |
|
|
---------------- |
---------------- |
---------------- |
|
|
14,602,001 |
11,996,535 |
9,772,775 |
|
|
============= |
============= |
============= |
FINANCIAL RATIO
|
|
POWERPOINT ELECTRICAL SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
1,245,043 |
879,934 |
- |
|
Net Liquid Funds |
<1,312,362> |
<6,090,906> |
- |
|
Net Liquid Assets |
2,879,262 |
1,180,875 |
359,676 |
|
Net Current Assets/(Liabilities) |
5,013,346 |
2,656,181 |
359,676 |
|
Net Tangible Assets |
14,602,001 |
11,996,535 |
9,772,775 |
|
Net Monetary Assets |
2,793,448 |
1,084,313 |
219,786 |
|
|
|
|
|
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Borrowings |
2,702,369 |
7,111,154 |
- |
|
Total Liabilities |
23,143,268 |
19,003,422 |
18,030,148 |
|
Total Assets |
37,659,455 |
30,903,395 |
27,663,033 |
|
Net Assets |
14,602,001 |
11,996,535 |
9,772,775 |
|
Net Assets Backing |
14,516,187 |
11,899,973 |
9,632,885 |
|
Shareholders' Funds |
14,516,187 |
11,899,973 |
9,632,885 |
|
Total Share Capital |
4,000,000 |
4,000,000 |
4,000,000 |
|
Total Reserves |
10,516,187 |
7,899,973 |
5,632,885 |
|
|
|
|
|
|
LIQUIDITY (Times) |
|
|
|
|
Cash Ratio |
0.05 |
0.05 |
- |
|
Liquid Ratio |
1.12 |
1.06 |
- |
|
Current Ratio |
1.22 |
1.14 |
1.02 |
|
|
|
|
|
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
11 |
10 |
- |
|
Debtors Ratio |
63 |
51 |
- |
|
Creditors Ratio |
103 |
70 |
- |
|
|
|
|
|
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0.19 |
0.60 |
- |
|
Liabilities Ratio |
1.59 |
1.60 |
1.87 |
|
Times Interest Earned Ratio |
8.17 |
6.19 |
- |
|
Assets Backing Ratio |
3.65 |
3.00 |
2.44 |
|
|
|
|
|
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
5.11 |
6.17 |
4.61 |
|
Net Profit Margin |
3.77 |
4.36 |
4.61 |
|
Return On Net Assets |
27.63 |
31.87 |
17.26 |
|
Return On Capital Employed |
23.45 |
20.12 |
17.26 |
|
Return On Shareholders' Funds/Equity |
18.02 |
19.05 |
17.51 |
|
Dividend Pay Out Ratio (Times) |
- |
- |
1.78 |
|
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.101.82 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.