|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
394937-P
|
|
COMPANY NAME
|
:
|
MM VITAOILS SDN. BHD.
|
|
FORMER NAME
|
:
|
NALURI PESONA SDN BHD (22/07/2002)
|
|
INCORPORATION DATE
|
:
|
20/07/1996
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
419, BLOCK A, KELANA BUSINESS CENTRE, 97
JALAN SS 7/2, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 3, PERSIARAN PERUSAHAAN, SECTION 23,
40300 SHAH ALAM, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-55488122
|
|
FAX.NO.
|
:
|
03-55489122
|
|
EMAIL
|
:
|
enquiries@mmvitaoils.com.my
|
|
WEB SITE
|
:
|
www.mmvitaoils.com.my
|
|
CONTACT PERSON
|
:
|
MAZLAN BIN MUHAMMAD ( CEO )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
10306
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURER OF PALM OIL AND OTHER RELATED
PRODCUTS
|
|
AUTHORISED CAPITAL
|
:
|
MYR 10,000,000.00 DIVIDED INTO
ORDINARY SHARE 10,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 6,785,000.00 DIVIDED INTO
ORDINARY SHARES 6,685,002 CASH AND 99,998 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 85,545,288 [2010]
|
|
NET WORTH
|
:
|
MYR 36,025,440 [2010]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
50 [2012]
|
|
BANKER (S)
|
:
|
|
EXPORT-IMPORT BANK OF MALAYSIA BHD
HONG LEONG BANK BHD
MALAYAN BANKING BHD
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BHD
MALAYSIAN INTERNATIONAL MERCHANT BANKERS BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
STABLE
|
|
PAYMENT
|
:
|
PROMPT
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
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) manufacturer of palm oil and other related prodcuts.
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
|
(%)
|
|
MR. MAZLAN BIN MUHAMMAD +
|
NO.57,JALAN ANGGERIK VANDA 31/168, KOTA
KEMUNING, 40460 SHAH ALAM, SELANGOR, MALAYSIA.
|
600718-03-5501 5949473
|
4,406,998.00
|
64.95
|
|
MS. HAYATI BTE JANTAN +
|
57, JALAN ANGGERIK VANDA 31/168, KOTA
KEMUNING, 40460 SHAH ALAM, SELANGOR, MALAYSIA.
|
630406-71-5476 6974492
|
3,002.00
|
0.04
|
|
SINDORA BHD
|
PERSADA JOHOR INTERNATIONAL CONVENTION
CENTRE, JALAN ABDULLAH IBRAHIM, LEVEL 2, 80000 JOHOR BAHRU, JOHOR, MALAYSIA.
|
13418
|
2,375,000.00
|
35.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
6,785,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. MUHAMAD BIN JANTAN
|
|
Address
|
:
|
44, JALAN SUNGAI ARA 4, DESA ARA, 11900
BAYAN LEPAS, PULAU PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
5635305
|
|
New IC No
|
:
|
550915-04-5183
|
|
Date of Birth
|
:
|
15/09/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
17/12/2002
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. RAMLAN BIN JUKI
|
|
Address
|
:
|
NO.40, JALAN GAYA 18, TAMAN GAYA, 81800
ULU TIRAM, JOHOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
640711-01-5467
|
|
Date of Birth
|
:
|
11/07/1964
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
11/10/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
DATUK HARON BIN SIRAJ
|
|
Address
|
:
|
108,JLN.AU5C/6, LEMBAH KERAMAT, 54200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
2776675
|
|
New IC No
|
:
|
441229-01-5045
|
|
Date of Birth
|
:
|
29/12/1944
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
15/05/2006
|
|
|
|
|
|
Qualification
|
:
|
BACHELOR OF ARTS WITH HONOURS FOR
ECONOMICS FROM THE UNIVERSITY OF MANCHESTER, UNITED KINGDOM. MASTERS DEGREE
IN DEVELOPMENT ECONOMICS AT WILLIAMS COLLEGE, USA IN 1974.
|
|
Working Experience
|
:
|
IN JANUARY 2001, HE WAS APPOINTED AS CEO
OF THE MALAYSIAN PALM OIL PROMOTION COUNCIL WHERE HE CONTINUES TO SERVE
UNTIL THE PRESENT DAYS.
|
|
Other Info
|
:
|
PJN 4
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MS. HAYATI BTE JANTAN
|
|
Address
|
:
|
57, JALAN ANGGERIK VANDA 31/168, KOTA
KEMUNING, 40460 SHAH ALAM, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
6974492
|
|
New IC No
|
:
|
630406-71-5476
|
|
Date of Birth
|
:
|
06/04/1963
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
Date of Appointment
|
:
|
15/09/1999
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
MR. MAZLAN BIN MUHAMMAD
|
|
Address
|
:
|
NO.57,JALAN ANGGERIK VANDA 31/168, KOTA
KEMUNING, 40460 SHAH ALAM, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
5949473
|
|
New IC No
|
:
|
600718-03-5501
|
|
Date of Birth
|
:
|
18/07/1960
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
29/01/1999
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
MAZLAN BIN MUHAMMAD
|
|
|
Position
|
:
|
CEO
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
DINA TA'LIB
|
|
|
Position
|
:
|
GENERAL MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
WAN NADZIR & CO
|
|
Auditor' Address
|
:
|
IC, BLOCK 1, WORLDWIDE BUSINESS PARK,
JALAN TINJU 13/50, SECTION 13, 3RD FLOOR, 40670 SHAH ALAM, SELANGOR,
MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
DATO' MUHAMMAD HAFIDZ BIN NURUDDIN
|
|
|
IC / PP No
|
:
|
4524498
|
|
|
New IC No
|
:
|
531101-08-7065
|
|
|
Address
|
:
|
NO.3,JALAN 11/3C, 40100 SHAH ALAM,
SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
EXPORT-IMPORT BANK OF MALAYSIA BHD
|
|
|
|
|
|
|
2)
|
Name
|
:
|
HONG LEONG BANK BHD
|
|
|
|
|
|
|
3)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
4)
|
Name
|
:
|
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE
BHD
|
|
|
|
|
|
|
5)
|
Name
|
:
|
MALAYSIAN INTERNATIONAL MERCHANT BANKERS
BHD
|
|
|
|
|
|
|
The SC enjoys normal banking routine with
above mentioned banker(s). The SC has bank charges with above mentioned
banker(s).
|
ENCUMBRANCE (S)
ENCUMBRANCE 1
|
Date of Creation
|
:
|
01/11/2010
|
|
Description Of Charge
|
:
|
MEMORANDUM
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
FIXED PROPERTY
|
|
Name & Address Of Chargee
|
:
|
HONG LEONG BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 10 In The
Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
21/10/2011
|
|
Description Of Charge
|
:
|
MEMORANDUM
|
|
Amount Secured
|
:
|
RM45,000,000.00
|
|
Description Of Property Affected
|
:
|
FIXED CHARGE
|
|
Name & Address Of Chargee
|
:
|
AFFIN INVESTMENT BANK BERHAD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 11 In The
Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
24/10/2011
|
|
Description Of Charge
|
:
|
MEMORANDUM
|
|
Amount Secured
|
:
|
RM27,260.00
|
|
Description Of Property Affected
|
:
|
FIXED CHARGE
|
|
Name & Address Of Chargee
|
:
|
AL RAJHI BANKING & INVESTMENT
CORPORATION (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 12 In The
Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
02/02/2012
|
|
Description Of Charge
|
:
|
MEMOERANDUM
|
|
Amount Secured
|
:
|
RM45,000,000.00
|
|
Description Of Property Affected
|
:
|
FIXED CHARGE
|
|
Name & Address Of Chargee
|
:
|
AFFIN INVESTMENT BANK BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 13 In The
Register of Charges
|
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
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
|
|
OVERALL PAYMENT HABIT
|
|
Prompt 0-30 Days
|
[
|
X
|
]
|
|
Good 31-60 Days
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
5%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
95%
|
|
Export Market
|
:
|
WORLDWIDE
|
|
Credit Term
|
:
|
AS AGREED
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
TELEGRAPHIC TRANSFER (TT),CHEQUES,LETTER
OF CREDIT (LC)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Products manufactured
|
:
|
|
COOKING OIL, MARGARINE, SHORTENING,
VEGETABLE GHEE
|
|
|
|
|
|
|
Brand Name
|
:
|
BLOSSOMMM, GOLDEN TREAT, MERVELLOSO,
PALMAS, QUALITASTE, RISE & SHINE, SERIMAS ETC
|
|
|
|
|
|
Award
|
:
|
1 ) ENTERPRISE 50 AWARD Year :2007
2 ) EXPORT EXCELLENCE AWARD (MERCHANDISE) BY MINISTRY OF INTERNATIONAL TRADE
AND INDUSTRY (MITI) Year :2007
3 ) CERTIFICATE OF EXCELLENCE Year :2007
4 ) SMALL MEDIUM BUSINESSES (SMB) EXPORT EXCELLENCE AWARD BY SMI
ASSOCIATION OF MALAYSIA Year :2005
5 ) EXCELLENCE BRAND OF ASIA PACIFIC ENTREPRENEUR EXCELLENCE AWARD Year
:2005
6 ) GOLDEN BULL AWARD Year :2005
7 ) CERTIFICATE OF MERITS BY MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
(MITI) Year :2004
|
|
|
|
|
|
Competitor(s)
|
:
|
INTERCONTINENTAL SPECIALTY FATS SDN BHD
MOI FOODS MALAYSIA SDN BHD
PALM-OLEO SDN BHD
SMALLHOLDERS EDIBLE OIL SDN BHD
SOON SOON OILMILLS SDN. BHD.
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM)
SMI ASSOCIATION OF MALAYSIA
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE)
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
50
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturer of palm oil
and other related prodcuts.
The SC's products range includes shortening, cooking oil, margarine, pastry
margarine, vegetable ghee and others.
The SC's plant has the advantages of packing products in different packaging
materials such as nylon pouch bags, tubs, cans, jerry cans, pet bottles,
carton boxes, drums and Flexi tanks.
Versatile packing sizes ranging from 10g tubs to 20mt Flexi tank, enable to
encompass a wide market, from household consumers to the food industry.
PROJECTS
No projects found in our databank
RECENT DEVELOPMENT
29 NOVEMBER 2007
THE success of MM Vitaoils Sdn Bhd, which specialises in downstream quality
edible oil products, is testimony of the vision and strategies of its
founder, Mazlan Muhammad. The SC's biggest success is the recognition of our
overseas buyers for our quality products, which has resulted in SC
penetrating 57 countries," said Mazlan, who is MM Vitaoils managing
director.Mazlan said 99 per cent of the company 's revenue last year was from
exports to countries in Europe, Africa, Commonwealth Independent States, the
Middle East and Southeast Asia." Our main market is Europe, accounting
for 35 per cent of revenue," he said.For this year, SC is looking at
healthier revenue growth contributed by additional market segments.Mazlan
expects the company to register 40 per cent growth in revenue to RM80
million, with exports to 60 countries. Last year, it recorded RM56.9 million
revenue. Meanwhile, SC is aggressively training its marketers to bring its
products to a wider international market.The company also plans to instal new
machinery and packaging lines.Today, SC has the most modern plant in Malaysia
with a combined capacity of 12,000 tonnes a month, with the advantage of
packing products in different packaging, working in collaboration with the
Malaysian Palm Oil Board.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
03-55488122
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 3, PERSIARAN PERUSAHAAN, SECTION
23,40300,SHAH ALAM,SELANGOR.
|
|
Current Address
|
:
|
LOT 3, PERSIARAN PERUSAHAAN, SECTION 23,
40300 SHAH ALAM, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the staff from the Admin Department. She provided some information
on the SC.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Erratic
|
[
|
2007 - 2010
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
2007 - 2010
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Unfavourable
|
[
|
7.69%
|
]
|
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
5.40%
|
]
|
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The dip in profit
could be due to the stiff market competition which reduced the SC's profit
margin. The unfavourable return on shareholders' funds could indicate that
the SC was inefficient in utilising its assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Working Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
42 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
226 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
1 Days
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
The SC's debtors ratio was high. The SC should tighten its credit control
and improve its collection period. 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
|
:
|
Favourable
|
[
|
1.88 Times
|
]
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
2.19 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be
maintained by the SC in order to assure its creditors of its ability to meet
short term obligations and the SC was in a good liquidity position. Thus,
we believe the SC is able to meet all its short term obligations as and
when they fall due.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Favourable
|
[
|
70.64 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Acceptable
|
[
|
0.86 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the SC was
able to service the interest. The favourable interest cover could indicate that
the SC was making enough profit to pay for the interest accrued. The SC's
gearing was slightly high. The SC is utilising the leverage concept to fund
its expansion. However, the high gearing has added financial risks to the
SC. It will be more vulnerable in times of economy downturn.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The SC recorded lower profits as its
turnover showed a erratic trend. The SC's management was unable to control its
costs efficiently as its profit showed a downward trend. The SC was in good
liquidity position with its total current liabilities well covered by its
total current assets. With its current net assets, the SC should be able to
repay its short term obligations. With the favourable interest cover, the
SC could be able to service all the accrued interest without facing any
difficulties. The SC's gearing was slightly high and its financial risk was
also high. If no plans are made to reduce its gearing, the SC's performance
may deteriorate in the coming year.
|
|
|
|
|
|
|
|
|
|
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
|
|
10306 : Manufacture of bean curd products
|
|
|
|
|
INDUSTRY :
|
TRADING
|
|
|
|
|
|
|
The wholesale and retail trade sector grew 7.1% in the first half of the year
2011 supported by strong consumer spending amid favourable labour market
conditions and sustained disposable income. This was reflected in the
higher distributive trade index which increased 15.9%, with wholesale and
retail trade indices increasing 19.2% and 7.8%, respectively.
|
|
It is anticipated that the retail industry will grow 6.0 per cent in the
year 2012.
|
|
Malaysia's retail sector for 2011 is expected to grow 6 per cent or RM81.59
billion worth of retail sales, similar to the year 2010, due to concerns of
high oil prices, declining purchasing power and high cost of doing
business. The Middle East and North Africa civil wars have caused the world
oil prices to climb. This has led to further rise in the cost of running
retail businesses, especially in terms of transportation cost. Many
retailers have no choice but to pass the increased cost to end consumers.
At the same time, natural disasters (tsunamis, floods, droughts, snow
storms, tornadoes and earthquakes) that occurred in all parts of the world
has also led to a shortage in the supply of food and raw materials. The
phenomenon has pushed retail prices up.In addition, the continual removal
of government subsidies since 2010 has pushed inflation upwards.
Consequently, rising prices of retail goods contributed to an expectation
of moderate performance.
|
|
During the first seven months of 2011, other consumption indicators such as
imports of consumption goods and credit card spending increased 12.8% and 11.8%,
respectively. Sales of motor vehicles declined 3% on account of supply
chain disruptions following devastating March 2011 earthquake and tsunami
in Japan.
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy.
Major initiatives include increasing the number of large format stores such
as hypermarkets, superstores and departmental stores are carried out to
boost the economy.
|
|
Meanwhile, the Government has introduced the Retail Shop Transformation
(TUKAR) programme. Under this programme, selected large format retailers
will assist small retailers to improve their premises and layout which
include attractive product display shelves, enhanced lighting and point-of-sales
system to manage product inventory,
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1996, the SC is a Private Limited company, focusing on manufacturer
of palm oil and other related prodcuts. Having been in the industry for 17
years, the SC has achieved a certain market share and has built up a
satisfactory reputation in the market. It should have received supports
from its regular customers. With an issued and paid up capital of RM6.8
million, the SC has strong capital position for its future expansion and
continued growth.
|
|
Over the years, the SC has established an extensive clientele base in the
market. Besides catering to the local market, the SC has penetrated into
other countries. With the contribution of both local and overseas
customers, the SC is likely to be exposed to lower commercial risk. Hence,
we believe that the SC has better business expansion opportunities in the
future. The SC is operating on a medium scale and it has approximately 50
employees in its business operations. Overall, we regard that the SC's
management capability is average.
|
|
The SC's business performance showed a reverse trend as both its turnover
and pre-tax profit have decreased compared to the previous year. The SC has
generated an unfavourable return on shareholders' funds indicating that the
management was inefficient in utilising its funds to generate return. The
gearing level of the SC is slightly high, therefore it faces moderate
financial risk.However, the SC is in good liquidity position with its
current liabilities well covered by it current assets. Hence, it has
sufficient working capital to meet its short term financial obligations.
Given a positive net worth standing at MYR 36,025,440, the SC should be
able to maintain its business in the near terms.
|
|
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the SC
has a good control over its resources.
|
|
We regard that the SC's overall payment habit is prompt. The SC had a
favourable creditors' ratio as evidenced by its favourable collection days.
|
|
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
normally.
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS)
|
|
MM VITAOILS SDN. BHD.
|
|
Financial Year End
|
31/12/2010
|
31/12/2009
|
31/12/2008
|
31/12/2007
|
|
Months
|
12
|
12
|
12
|
12
|
|
Consolidated Account
|
Company
|
Company
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
SUMMARY
|
SUMMARY
|
|
Currency
|
MYR
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
TURNOVER
|
85,545,288
|
102,078,420
|
101,167,133
|
86,973,541
|
|
Other Income
|
205,874
|
1,107,408
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
85,751,162
|
103,185,828
|
101,167,133
|
86,973,541
|
|
Costs of Goods Sold
|
<68,334,344>
|
<83,934,974>
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Gross Profit
|
17,416,818
|
19,250,854
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
4,425,243
|
6,243,453
|
4,325,158
|
5,594,859
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
4,425,243
|
6,243,453
|
4,325,158
|
5,594,859
|
|
Taxation
|
<1,655,364>
|
<375,484>
|
<422,090>
|
<402,983>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
2,769,879
|
5,867,969
|
3,903,068
|
5,191,876
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
|
As previously reported
|
19,395,561
|
13,527,592
|
9,624,524
|
4,432,648
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
19,395,561
|
13,527,592
|
9,624,524
|
4,432,648
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
22,165,440
|
19,395,561
|
13,527,592
|
9,624,524
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
22,165,440
|
19,395,561
|
13,527,592
|
9,624,524
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to
P&L)
|
|
|
|
|
|
Hire purchase
|
63,549
|
27,400
|
-
|
-
|
|
|
----------------
|
----------------
|
|
|
|
|
63,549
|
27,400
|
|
|
BALANCE SHEET
|
ASSETS EMPLOYED:
|
|
|
|
|
|
FIXED ASSETS
|
22,995,928
|
20,973,156
|
17,377,161
|
18,641,972
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
|
|
Investments
|
19,320,000
|
2,309,100
|
-
|
-
|
|
Deferred assets
|
271,790
|
417,933
|
-
|
-
|
|
Others
|
3,177,703
|
3,213,057
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
22,769,493
|
5,940,090
|
0
|
0
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
45,765,421
|
26,913,246
|
17,377,161
|
18,641,972
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
Stocks
|
9,891,116
|
9,516,679
|
-
|
-
|
|
Trade debtors
|
52,948,490
|
60,687,379
|
-
|
-
|
|
Other debtors, deposits & prepayments
|
-
|
4,244,496
|
-
|
-
|
|
Short term deposits
|
4,370,714
|
-
|
-
|
-
|
|
Deposits with financial institutions
|
1,561,095
|
1,521,031
|
-
|
-
|
|
Cash & bank balances
|
13,617
|
2,543,156
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
68,785,032
|
78,512,741
|
58,663,232
|
51,351,431
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
114,550,453
|
105,425,987
|
76,040,393
|
69,993,403
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
Trade creditors
|
225,524
|
435,623
|
-
|
-
|
|
Other creditors & accruals
|
345,307
|
985,021
|
-
|
-
|
|
Hire purchase & lease creditors
|
706,041
|
165,853
|
-
|
-
|
|
Short term borrowings/Term loans
|
29,483,752
|
25,882,800
|
-
|
-
|
|
Provision for taxation
|
588,785
|
399,363
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
31,349,409
|
27,868,660
|
45,350,722
|
3,716,873
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
37,435,623
|
50,644,081
|
13,312,510
|
47,634,558
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
83,201,044
|
77,557,327
|
30,689,671
|
66,276,530
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
Ordinary share capital
|
6,785,000
|
6,785,000
|
6,785,000
|
6,785,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
6,785,000
|
6,785,000
|
6,785,000
|
6,785,000
|
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
Share premium
|
5,655,000
|
5,655,000
|
5,655,000
|
5,655,000
|
|
Capital reserve
|
300,000
|
300,000
|
300,000
|
300,000
|
|
Retained profit/(loss) carried forward
|
22,165,440
|
19,395,561
|
13,527,592
|
9,624,524
|
|
Others
|
1,120,000
|
159,100
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
29,240,440
|
25,509,661
|
19,482,592
|
15,579,524
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
36,025,440
|
32,294,661
|
26,267,592
|
22,364,524
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
|
|
Hire purchase creditors
|
819,370
|
132,046
|
-
|
-
|
|
Deferred taxation
|
1,607,500
|
350,500
|
-
|
-
|
|
Others
|
44,748,734
|
44,780,120
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
47,175,604
|
45,262,666
|
4,422,079
|
43,912,006
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
83,201,044
|
77,557,327
|
30,689,671
|
66,276,530
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
FINANCIAL RATIO
|
TYPES OF FUNDS
|
|
|
|
|
|
Cash
|
4,384,331
|
2,543,156
|
-
|
-
|
|
Net Liquid Funds
|
4,384,331
|
2,543,156
|
-
|
-
|
|
Net Liquid Assets
|
27,544,507
|
41,127,402
|
13,312,510
|
47,634,558
|
|
Net Current Assets/(Liabilities)
|
37,435,623
|
50,644,081
|
13,312,510
|
47,634,558
|
|
Net Tangible Assets
|
83,201,044
|
77,557,327
|
30,689,671
|
66,276,530
|
|
Net Monetary Assets
|
<19,631,097>
|
<4,135,264>
|
8,890,431
|
3,722,552
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
Total Borrowings
|
31,009,163
|
26,180,699
|
-
|
-
|
|
Total Liabilities
|
78,525,013
|
73,131,326
|
49,772,801
|
47,628,879
|
|
Total Assets
|
114,550,453
|
105,425,987
|
76,040,393
|
69,993,403
|
|
Net Assets
|
83,201,044
|
77,557,327
|
30,689,671
|
66,276,530
|
|
Net Assets Backing
|
36,025,440
|
32,294,661
|
26,267,592
|
22,364,524
|
|
Shareholders' Funds
|
36,025,440
|
32,294,661
|
26,267,592
|
22,364,524
|
|
Total Share Capital
|
6,785,000
|
6,785,000
|
6,785,000
|
6,785,000
|
|
Total Reserves
|
29,240,440
|
25,509,661
|
19,482,592
|
15,579,524
|
|
LIQUIDITY (Times)
|
|
|
|
|
|
Cash Ratio
|
0.14
|
0.09
|
-
|
-
|
|
Liquid Ratio
|
1.88
|
2.48
|
-
|
-
|
|
Current Ratio
|
2.19
|
2.82
|
1.29
|
13.82
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
|
Stock Ratio
|
42
|
34
|
-
|
-
|
|
Debtors Ratio
|
226
|
217
|
-
|
-
|
|
Creditors Ratio
|
1
|
2
|
-
|
-
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
Gearing Ratio
|
0.86
|
0.81
|
-
|
-
|
|
Liabilities Ratio
|
2.18
|
2.26
|
1.89
|
2.13
|
|
Times Interest Earned Ratio
|
70.64
|
228.86
|
-
|
-
|
|
Assets Backing Ratio
|
12.26
|
11.43
|
4.52
|
9.77
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
Operating Profit Margin
|
5.17
|
6.12
|
4.28
|
6.43
|
|
Net Profit Margin
|
3.24
|
5.75
|
3.86
|
5.97
|
|
Return On Net Assets
|
5.40
|
8.09
|
14.09
|
8.44
|
|
Return On Capital Employed
|
5.35
|
8.07
|
14.09
|
8.44
|
|
Return On Shareholders' Funds/Equity
|
7.69
|
18.17
|
14.86
|
23.21
|
|
Dividend Pay Out Ratio (Times)
|
0.00
|
0.00
|
-
|
-
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
|
Contingent Liabilities
|
0
|
0
|
|
|
|