|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
923528-P
|
|
COMPANY NAME
|
:
|
K C TEW SDN. BHD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
26/11/2010
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
91E/2, JALAN TUN PERAK, BACANG, 75300
MELAKA, MELAKA, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
45, JALAN IMJ2,TAMAN INDUSTRI MALIM
JAYA,, 75250 MELAKA, MELAKA, MALAYSIA.
|
|
TEL.NO.
|
:
|
06-3363395
|
|
FAX.NO.
|
:
|
06-3373397
|
|
EMAIL
|
:
|
YANTEW@GMAIL.COM
|
|
CONTACT PERSON
|
:
|
TEW SOOK YEN ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46621
|
|
PRINCIPAL ACTIVITY
|
:
|
DEALER FOR GRAIN, SILICON, METAL MINERAL,
ORE, FRUIT
|
|
AUTHORISED CAPITAL
|
:
|
MYR 10.00 DIVIDED INTO
ORDINARY SHARE 10.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 10.00 DIVIDED INTO
ORDINARY SHARES 10 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 10,842,730 [2011]
|
|
NET WORTH
|
:
|
MYR 13,335 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2013]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
STABLE
|
|
PAYMENT
|
:
|
GOOD
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
N/A
|
|
CURRENCY EXPOSURE
|
:
|
N/A
|
|
GENERAL REPUTATION
|
:
|
POOR
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
|
|
HISTORY
/ BACKGROUND
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) dealer for grain, silicon, metal mineral, ore, fruit.
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
|
(%)
|
|
MS. BOON SEE MOI +
|
78, TAMAN SRI KOTA, BATU HAMPAR, 75350
BATU BERENDAM, MELAKA, MALAYSIA.
|
451210-04-5120
|
3.00
|
30.00
|
|
MS. TEW SOOK YEN +
|
NO. 78 TAMAN SRI KOTA, BATU HAMPAR, 75350
BATU BERENDAM, MELAKA, MALAYSIA.
|
790504-04-5202
|
2.00
|
20.00
|
|
MR. TEW CHOK @ TEW KEE CHONG
|
78 TAMAN SRI KOTA, BATU HAMPAR, PERINGGIT,
75400 MELAKA, MELAKA, MALAYSIA.
|
440609-04-5129
|
5.00
|
50.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
10.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. TEW SOOK YEN
|
|
Address
|
:
|
NO. 78 TAMAN SRI KOTA, BATU HAMPAR, 75350
BATU BERENDAM, MELAKA, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
790504-04-5202
|
|
Date of Birth
|
:
|
04/05/1979
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MS. BOON SEE MOI
|
|
Address
|
:
|
78, TAMAN SRI KOTA, BATU HAMPAR, 75350
BATU BERENDAM, MELAKA, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
451210-04-5120
|
|
Date of Birth
|
:
|
10/12/1945
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TEW SOOK YEN
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
BOON SEE MOI
|
|
|
Position
|
:
|
MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
L.K. CHONG & CO.
|
|
Auditor' Address
|
:
|
327-A,JALAN MELAKA RAYA 1, TAMAN MELAKA
RAYA, MELAKA., 75000 MELAKA, MELAKA, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. WANG SEOW CHIN
|
|
|
|
|
|
|
|
New IC No
|
:
|
530202-04-5433
|
|
|
Address
|
:
|
91E/3,JALAN TUN PERAK, BACANG , 75300
MELAKA, MELAKA, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
The SC enjoys normal banking routine with
above mentioned banker(s). No adverse record was found during our
investigation.
|
ENCUMBRANCE
(S)
No encumbrance was found in our databank at the time of investigation.
LEGAL
CHECK AGAINST SC
* 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.
DEFAULTER
CHECK AGAINST SC
* 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.
PAYMENT
RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
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
|
[
|
X
|
]
|
|
Average 61-90 Days
|
[
|
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The staff from the registered office refused to disclose the SC's clietele.
OPERATIONS
|
Goods Traded
|
:
|
GRAIN, SILICON, METAL MINERAL, ORE, FRUIT
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2013
|
2012
|
2011
|
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
|
COMPANY
|
5
|
5
|
2
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) dealer for grain, silicon,
metal mineral, ore, fruit.
The staff from the registered office refused to disclose any information on
the SC's operation.
PROJECTS
No projects found in our databank
CURRENT
INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
063363395
|
|
Current Telephone Number
|
:
|
06-3363395
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
45, JALAN IMJ2,TAMAN INDUSTRI MALIM JAYA,,75250,MELAKA,MELAKA.
|
|
Current Address
|
:
|
45, JALAN IMJ2,TAMAN INDUSTRI MALIM
JAYA,, 75250 MELAKA, MELAKA, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the SC's registered office and she
provided some informtion on the SC.
FINANCIAL
ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Return on Shareholder Funds
|
:
|
Favourable
|
[
|
99.93%
|
]
|
|
|
Return on Net Assets
|
:
|
Favourable
|
[
|
117.02%
|
]
|
|
|
|
|
|
|
|
|
|
|
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
|
[
|
6 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
2 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
18 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 SC had a favourable creditors' ratio as
evidenced by its favourable collection days. The SC could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Unfavourable
|
[
|
0.68 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
0.99 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the SC may
be facing working capital deficiency. If the SC cannot obtain additional
financing or injection of fresh capital, it may face difficulties in
meeting its short term obligations.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Nil
|
[
|
0.00 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was nil as it did
not pay any interest during the year. The SC had no gearing and hence it
had virtually no financial risk. The SC was financed by its shareholders'
funds and internally generated fund. During the economic downturn, the SC,
having a zero gearing, will be able to compete better than those which are
highly geared in the same industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
Due to its weak liquidity position, the SC
will be faced with problems in meeting all its short term obligations if no
short term loan is obtained or additional capital injected into the SC. The
SC did not make any interest payment during the year. The SC was dependent
on its shareholders' funds to finance its business needs. The SC was a zero
gearing company, it was solely dependant on its shareholders to provide
funds to finance its business. The SC has good chance of getting loans, if
the needs arises.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC :
STABLE
|
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic Indicators:
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
27.73
|
28.13
|
28.35
|
28.70
|
29.10
|
|
Gross Domestic Products ( % )
|
4.6
|
<0.5>
|
7.2
|
5.5
|
5.3
|
|
Domestic Demand ( % )
|
6.9
|
2.9
|
6.3
|
4.8
|
7.6
|
|
Private Expenditure ( % )
|
7.1
|
<2.7>
|
8.1
|
7.0
|
8.7
|
|
Consumption ( % )
|
8.4
|
0.7
|
6.7
|
6.3
|
7.1
|
|
Investment ( % )
|
1.5
|
<17.2>
|
17.7
|
16.2
|
15.9
|
|
Public Expenditure ( % )
|
6.5
|
5.2
|
3.8
|
7.6
|
4.7
|
|
Consumption ( % )
|
11.6
|
3.1
|
0.2
|
8.9
|
3.0
|
|
Investment ( % )
|
0.7
|
8.0
|
2.8
|
0.6
|
7.0
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
129,563
|
89,650
|
118,356
|
116,058
|
-
|
|
Government Finance ( MYR Million )
|
<34,462>
|
<28,450>
|
<40,482>
|
<45,511>
|
<43,021>
|
|
Government Finance to GDP / Fiscal
Deficit ( % )
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
|
<4.7>
|
|
Inflation ( % Change in Composite CPI)
|
<3.3>
|
<5.2>
|
5.1
|
3.1
|
-
|
|
Unemployment Rate
|
3.7
|
4.5
|
3.9
|
3.3
|
-
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion
)
|
388
|
331
|
329
|
415
|
-
|
|
Average Risk-Weighted Capital Adequacy
Ratio ( % )
|
1.91
|
2.87
|
2.20
|
3.50
|
-
|
|
Average 3 Months of Non-performing Loans
( % )
|
13.24
|
11.08
|
15.30
|
14.80
|
-
|
|
Average Base Lending Rate ( % )
|
6.72
|
5.53
|
6.30
|
6.60
|
-
|
|
Business Loans Disbursed( % )
|
11.6
|
10.5
|
14.7
|
15.3
|
-
|
|
Foreign Investment ( MYR Million )
|
23,261.4
|
22,156.8
|
22,517.9
|
23,546.1
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
41,599
|
41,578
|
44,148
|
-
|
-
|
|
Registration of New Companies ( % )
|
<4.0>
|
<0.1>
|
6.2
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
27,992
|
39,075
|
25,585
|
-
|
-
|
|
Liquidation of Companies ( % )
|
23.7
|
39.6
|
<34.5>
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
269,866
|
312,581
|
271,414
|
-
|
-
|
|
Registration of New Business ( % )
|
-
|
-
|
-
|
-
|
-
|
|
Business Dissolved ( No. )
|
18,885
|
19,345
|
19,738
|
-
|
-
|
|
Business Dissolved ( % )
|
<7.6>
|
2.4
|
2.0
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
497.5
|
486.3
|
543.6
|
363.0
|
-
|
|
Cellular Phone Subscribers ( Million )
|
25.1
|
30.1
|
32.8
|
35.3
|
-
|
|
Tourist Arrival ( Million Persons )
|
21.5
|
23.6
|
24.6
|
25.3
|
-
|
|
Hotel Occupancy Rate ( % )
|
68.0
|
58.0
|
63.0
|
51.3
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
17.1
|
12.8
|
14.1
|
15.6
|
-
|
|
Bad Cheque Offenders (No.)
|
34,834
|
36,667
|
33,568
|
27,208
|
-
|
|
Individual Bankruptcy ( No.)
|
13,907
|
16,228
|
18,119
|
16,155
|
-
|
|
Individual Bankruptcy ( % )
|
5.1
|
16.7
|
11.7
|
<10.8>
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Agriculture
|
3.6
|
0.4
|
2.1
|
4.7
|
4.1
|
|
Palm Oil
|
7.0
|
<1.1>
|
<3.4>
|
7.3
|
-
|
|
Rubber
|
<1.1>
|
<19.8>
|
9.9
|
6.4
|
-
|
|
Forestry & Logging
|
<1.5>
|
<5.9>
|
<3.3>
|
<4.7>
|
-
|
|
Fishing
|
4.0
|
5.5
|
5.6
|
2.8
|
-
|
|
Other Agriculture
|
5.9
|
9.0
|
7.9
|
8.5
|
-
|
|
Industry Non-Performing Loans ( MYR
Million )
|
393.0
|
413.7
|
508.4
|
634.1
|
-
|
|
% of Industry Non-Performing Loans
|
<2.0>
|
1.3
|
2.1
|
3.2
|
-
|
|
|
|
|
|
|
|
|
Mining
|
<0.8>
|
<3.8>
|
0.2
|
<2.4>
|
2.5
|
|
Oil & Gas
|
12.7
|
2.1
|
0.5
|
<1.7>
|
-
|
|
Other Mining
|
-
|
-
|
-
|
-
|
-
|
|
Industry Non-performing Loans ( MYR
Million )
|
36.0
|
44.2
|
49.7
|
46.5
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
1.3
|
<9.4>
|
11.4
|
5.6
|
4.5
|
|
Exported-oriented Industries
|
2.7
|
<19.0>
|
12.1
|
2.8
|
-
|
|
Electrical & Electronics
|
2.4
|
<30.3>
|
28.4
|
<4.9>
|
-
|
|
Rubber Products
|
4.2
|
<10.1>
|
25.3
|
15.4
|
-
|
|
Wood Products
|
<6.0>
|
<24.1>
|
20.1
|
<7.3>
|
-
|
|
Textiles & Apparel
|
1.9
|
<19.5>
|
<0.4>
|
14.8
|
-
|
|
Domestic-oriented Industries
|
9.9
|
<9.8>
|
16.3
|
6.3
|
-
|
|
Food, Beverages & Tobacco
|
9.5
|
0.2
|
3.0
|
4.2
|
-
|
|
Chemical & Chemical Products
|
1.4
|
<7.7>
|
16.2
|
5.6
|
-
|
|
Plastic Products
|
6.5
|
<9.1>
|
2.4
|
3.8
|
-
|
|
Iron & Steel
|
16.8
|
<32.7>
|
29.3
|
2.4
|
-
|
|
Fabricated Metal Products
|
14.7
|
<2.5>
|
14.9
|
25.2
|
-
|
|
Non-metallic Mineral
|
8.3
|
<15.5>
|
20.2
|
16.3
|
-
|
|
Transport Equipment
|
27.1
|
<13.5>
|
36.5
|
<9.4>
|
-
|
|
Paper & Paper Products
|
8.6
|
<5.0>
|
18.7
|
15.6
|
-
|
|
Crude Oil Refineries
|
7.8
|
0.2
|
<11.4>
|
9.3
|
-
|
|
Industry Non-Performing Loans ( MYR
Million )
|
5,729.4
|
6,007.3
|
6,217.5
|
6,537.2
|
-
|
|
% of Industry Non-Performing Loans
|
16.8
|
18.3
|
23.8
|
25.7
|
-
|
|
|
|
|
|
|
|
|
Construction
|
2.1
|
5.8
|
5.1
|
4.4
|
7.0
|
|
Industry Non-Performing Loans ( MYR
Million )
|
4,149.8
|
3,241.8
|
4,038.5
|
3,856.9
|
-
|
|
% of Industry Non-Performing Loans
|
12.2
|
9.9
|
10.7
|
10.2
|
-
|
|
|
|
|
|
|
|
|
Services
|
7.3
|
2.6
|
6.5
|
6.4
|
6.5
|
|
Electric, Gas & Water
|
5.0
|
0.4
|
8.5
|
5.6
|
4.8
|
|
Transport, Storage & Communication
|
7.8
|
1.6
|
7.7
|
6.5
|
7.3
|
|
Wholesale, Retail, Hotel & Restaurant
|
10.0
|
2.8
|
4.7
|
5.2
|
6.9
|
|
Finance, Insurance & Real Estate
|
9.2
|
3.8
|
6.1
|
6.3
|
6.5
|
|
Government Services
|
8.6
|
2.0
|
6.7
|
7.6
|
5.6
|
|
Other Services
|
5.9
|
4.4
|
4.2
|
5.4
|
5.7
|
|
Industry Non-Performing Loans ( MYR
Million )
|
8,281.4
|
6,631.3
|
7,384.6
|
6,825.2
|
-
|
|
% of Industry Non-Performing Loans
|
24.3
|
20.2
|
25.7
|
23.4
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary
|
|
|
|
|
|
|
** Forecast
|
|
|
|
|
|
|
# Based On Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
INDUSTRY
ANALYSIS
|
MSIC CODE
|
|
46621 : Wholesale of ferrous and
non-ferrous metal ores and metals
|
|
|
|
|
INDUSTRY :
|
MANUFACTURING
|
|
|
|
|
|
|
The manufacturing sector is expected to be driven by higher value-added
activities in Malaysia.The GDP growth for first quarter 2012 indicating manufacturing
maintain its growth of 4.5%, similar to year 2011.Malaysia recorded a 12%
jump in approved investments in the manufacturing sector in the first
quarter of 2012 compared with the corresponding period 2011. According to
Federation of Malaysian Manufacturers (FMM), manufacturing sector expected
to improve in the third quarter 2012 despite concerns over external
developments and the rising cost of production.
|
|
The rubber products sub-sector is expected to remain resilient supported by
continuous improvements in medical and healthcare standards in emerging
markets as well as demand from niche markets such as the oil and gas sector
for rubber hoses. Malaysia rubber exports are forecast to grow at 10%, at
the end of 2012 driven by global demand for medical gloves as well as
rubber tyres and tubes.Rubber glove exports make up 70 % of total rubber
shipments in Malaysia due to hospitals and clinics place more intrest on
rising health and hygiene awareness.
|
|
The Malaysia government has growth target of 6.5% for wood based furniture
where estimated to reach up to RM53 billion by year 2020.The government
providing pioneer status for tax exemption and investment tax allowance for
this industry as a boost up step towards produce good quality product and
to meet the world demand.
|
|
Chemical production are expected to show 6.2% in year 2012 and 7.5 % in
year 2013 inline with Malaysia as one of the largest contributor in world
Chemicals & Chemical industries.
|
|
According to Malaysian Iron and Steel Industry Federation, first half of
2012 would remain weak for the local steel industry due to eurozone crisis,
slowdown in China's economy and less robust construction activities in the
developed countries. At first quarter 2012, the average local steel price
is trading atRM2,300 per tonne compared with the average international
price of US$740 (RM2,331) per tonne.
|
|
According to the Department of Statistics, Malaysia during the first
quarter 2012, the manufacturing output increased due to activities in major
sub-sectors such as petroleum, chemical, rubber and plastic products (10.5
%), and non-metallic mineral products, basic metal and fabricated metal
products (3.9 %). Meanwhile, it's also announced that the manufacturing
sector's sales grew by 10 % in May 2012 to record RM52.5 billion compared
with RM47.7 billion in May 2011. The Industrial Production Index (IPI )
increased 7.6 % in May (2012) due to increases in manufacturing (6.5 %).
|
|
Tax and non-tax incentives provided by goverment encourage manufacturers to
move up the value chain of manufacturing industry. The new growth
initiatives by goverment in the manufacturing sector such as solar and
medial services can be important drivers of growth apart from helping to
diversify the manufacturing base and contributing to the resilience of the
sector.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 2010, the SC is a Private Limited company, focusing on
dealer for grain, silicon, metal mineral, ore, fruit. The SC has been in
business for less than 5 years and it has slowly been building up contact
with its clients while competing in the industry. The SC's business
position much depend on its director abilities.
|
|
Being a small company, the SC's business operation is supported by 5
employees. Overall, we regard that the SC's management capability is
average. This indicates that the SC has greater potential to improve its
business performance and raising income for the SC.
|
|
Based on the higher profitability, the SC has generated a favourable return
based on its existing shareholders' funds which indicated that the
management was efficient in utilising its funds to generate income. Due to
its weak liquidity position, the SC may face working capital deficiency in
meeting its short term financial obligations if no fresh capital are
injected into the SC. Being a zero geared company, the SC virtually has no
financial risk as it is mainly dependent on its internal funds to finance
its business. Given a positive net worth standing at MYR 13,335, the SC
should be able to maintain its business in the near terms.
|
|
Having a strong assets backing, the SC possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
|
|
Overall, the SC's payment habit is good as the SC has a good credit control
and it could be taking advantage of the cash discounts while maintaining a
good reputation with its creditors.
|
|
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the SC is expected to benefit from the favourable
outlook of the industry.
|
|
Based on the above condition, we recommend credit be granted to the SC
promptly.
|
PROFIT
AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS)
|
|
K C TEW SDN. BHD.
|
|
Financial Year End
|
31/12/2011
|
|
Months
|
12
|
|
Consolidated Account
|
Company
|
|
Audited Account
|
YES
|
|
Unqualified Auditor's Report (Clean
Opinion)
|
YES
|
|
Financial Type
|
FULL
|
|
Currency
|
MYR
|
|
|
|
|
TURNOVER
|
10,842,730
|
|
|
----------------
|
|
Total Turnover
|
10,842,730
|
|
Costs of Goods Sold
|
<10,534,934>
|
|
|
----------------
|
|
Gross Profit
|
307,796
|
|
|
----------------
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
17,120
|
|
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
17,120
|
|
Taxation
|
<3,795>
|
|
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
13,325
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
13,325
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
13,325
|
|
|
=============
|
|
|
|
BALANCE
SHEET
|
ASSETS EMPLOYED:
|
|
|
FIXED ASSETS
|
19,900
|
|
|
|
|
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
19,900
|
|
|
|
|
CURRENT ASSETS
|
|
|
Stocks
|
173,891
|
|
Trade debtors
|
72,600
|
|
Other debtors, deposits & prepayments
|
11,948
|
|
Cash & bank balances
|
291,238
|
|
|
----------------
|
|
TOTAL CURRENT ASSETS
|
549,677
|
|
|
----------------
|
|
TOTAL ASSET
|
569,577
|
|
|
=============
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
Trade creditors
|
530,560
|
|
Other creditors & accruals
|
21,321
|
|
Other liabilities
|
3,066
|
|
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
554,947
|
|
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
<5,270>
|
|
|
----------------
|
|
TOTAL NET ASSETS
|
14,630
|
|
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share capital
|
10
|
|
|
----------------
|
|
TOTAL SHARE CAPITAL
|
10
|
|
|
|
|
RESERVES
|
|
|
Retained profit/(loss) carried forward
|
13,325
|
|
|
----------------
|
|
TOTAL RESERVES
|
13,325
|
|
|
|
|
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
13,335
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
Deferred taxation
|
1,295
|
|
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
1,295
|
|
|
----------------
|
|
|
14,630
|
|
|
=============
|
|
|
|
FINANCIAL
RATIO
|
TYPES OF FUNDS
|
|
|
Cash
|
291,238
|
|
Net Liquid Funds
|
291,238
|
|
Net Liquid Assets
|
<179,161>
|
|
Net Current Assets/(Liabilities)
|
<5,270>
|
|
Net Tangible Assets
|
14,630
|
|
Net Monetary Assets
|
<180,456>
|
|
BALANCE SHEET ITEMS
|
|
|
Total Borrowings
|
0
|
|
Total Liabilities
|
556,242
|
|
Total Assets
|
569,577
|
|
Net Assets
|
14,630
|
|
Net Assets Backing
|
13,335
|
|
Shareholders' Funds
|
13,335
|
|
Total Share Capital
|
10
|
|
Total Reserves
|
13,325
|
|
LIQUIDITY (Times)
|
|
|
Cash Ratio
|
0.52
|
|
Liquid Ratio
|
0.68
|
|
Current Ratio
|
0.99
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
Stock Ratio
|
6
|
|
Debtors Ratio
|
2
|
|
Creditors Ratio
|
18
|
|
SOLVENCY RATIOS (Times)
|
|
|
Gearing Ratio
|
0.00
|
|
Liabilities Ratio
|
41.71
|
|
Times Interest Earned Ratio
|
0.00
|
|
Assets Backing Ratio
|
1,463.00
|
|
PERFORMANCE RATIO (%)
|
|
|
Operating Profit Margin
|
0.16
|
|
Net Profit Margin
|
0.12
|
|
Return On Net Assets
|
117.02
|
|
Return On Capital Employed
|
117.02
|
|
Return On Shareholders' Funds/Equity
|
99.93
|
|
Dividend Pay Out Ratio (Times)
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
Contingent Liabilities
|
0
|
|