|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
JM0052741-K
|
|
COMPANY NAME
|
:
|
SYARIKAT PERNIAGAAN MEDAN JAYA
|
|
COMMENCEMENT DATE
|
:
|
15/09/1982
|
|
REGISTRATION DATE
|
:
|
01/10/1982
|
|
EXPIRY DATE
|
:
|
15/12/2013
|
|
BUSINESS CONSTITUTION
|
:
|
PARTNERSHIP
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BUSINESS ADDRESS
|
:
|
NO 12, JLN ZURAH 1, TMN BINTANG, GEMAS
BARU, GEMAS, 73400 GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
07-9482201
|
|
FAX.NO.
|
:
|
07-9481269
|
|
CONTACT PERSON
|
:
|
CHUA SUWI WAT ( PARTNER )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46202
|
|
PRINCIPAL ACTIVITY
|
:
|
GUNNY BAGS, SUGAR BAGS, OIL PALM
PRODUCTS, FOREST WOODS AND RUBBER WOODS
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
10 [2012]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
|
|
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY
/ BACKGROUND
The SC commenced its business on 15/09/1982
as a PARTNERSHIP.
The SC is a partnership firm registered
under the Business Registration Act. The partners liabilities are unlimited,
that is, if the partnership is not able to meet its obligations, the partners
have to be personally liable for the debts incurred. The SC's ownership is
transferable with consent of the other partners. The SC as a partnership firm
is governed by the Partnership Act. The SC is not required to file in its
financial statements with the Registry of Business.
The SC is principally engaged in the (as a
/ as an) gunny bags, sugar bags, oil palm products, forest woods and rubber
woods.
The SC is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The owner of
the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MR. CHUA SUWI WAT @ KOH KAY CHAM
|
59, GOLDENHILL GDN, GEMAS BAHRU, , 73400
GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
530530-01-5233 4465288
|
33.00
|
33.00
|
|
MR. CHUA TIAM CHAI @ KOH KAY CHAM
|
55, GOLDEN HILL GARDEN, GEMAS BARU, , 73400
GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
610326-01-5447 6133699
|
33.00
|
33.00
|
|
MR. CHUA THIAM SIEW @ KOH KAY CHAM
|
55,GOLDEN HILL GARDEN, GEMAS BAHRU, ,
73400 GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
591201-01-5813 5804144
|
34.00
|
34.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
100.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
OWNERS
OWNER(S) 1
|
Name Of Subject
|
:
|
MR. CHUA TIAM CHAI @ KOH KAY CHAM
|
|
Address
|
:
|
55, GOLDEN HILL GARDEN, GEMAS BARU, 73400
GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
|
IC / PP No
|
:
|
6133699
|
|
New IC No
|
:
|
610326-01-5447
|
|
Date of Birth
|
:
|
26/03/1961
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
15/09/1982
|
|
Shareholding
|
:
|
33%
|
|
|
|
|
|
|
|
|
|
|
|
|
OWNER(S) 2
|
Name Of Subject
|
:
|
MR. CHUA SUWI WAT @ KOH KAY CHAM
|
|
Address
|
:
|
59, GOLDENHILL GDN, GEMAS BAHRU, 73400
GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
|
IC / PP No
|
:
|
4465288
|
|
New IC No
|
:
|
530530-01-5233
|
|
Date of Birth
|
:
|
30/05/1953
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
15/09/1982
|
|
Shareholding
|
:
|
33%
|
|
|
|
|
|
|
|
|
|
|
|
|
OWNER(S) 3
|
Name Of Subject
|
:
|
MR. CHUA THIAM SIEW @ KOH KAY CHAM
|
|
Address
|
:
|
55,GOLDEN HILL GARDEN, GEMAS BAHRU, 73400
GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
|
IC / PP No
|
:
|
5804144
|
|
New IC No
|
:
|
591201-01-5813
|
|
Date of Birth
|
:
|
01/12/1959
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
15/09/1982
|
|
Shareholding
|
:
|
34%
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
CHUA SUWI WAT
|
|
|
Position
|
:
|
PARTNER
|
|
|
|
|
|
AUDITOR
No Auditor found in our databank
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.
|
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.
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.
CLIENTELE
|
Local
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Overseas
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Export Market
|
:
|
PAKISTAN,
CHINA, INDIA
|
|
Credit Term
|
:
|
30 - 60 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Total Number of Employees:
|
|
YEAR
|
2012
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
10
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) gunny bags, sugar bags,
oil palm products, forest woods and rubber woods.
The SC is engaged in the trading of palm oil.
The SC sells the palm oil according to its customers' orders.
PROJECTS
No projects found in our databank
CURRENT
INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
069482201
|
|
Current Telephone Number
|
:
|
07-9482201
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
NO 12, JLN ZURAH 1, TMN BINTANG, GEMAS
BARU, GEMAS,73400,GEMAS,NEGERI SEMBILAN.
|
|
Current Address
|
:
|
NO 12, JLN ZURAH 1, TMN BINTANG, GEMAS
BARU, GEMAS, 73400 GEMAS, NEGERI SEMBILAN, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
We contacted one of the staff from the Admin Department. She provided some
information on the SC.
FINANCIAL
ANALYSIS
|
We are unable to comment on the SC financial
position as the SC is not required by the law to file its financial
statement in the Registrar of Business.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC :
N/A
|
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
|
|
46202 : Wholesale of palm oil
|
|
|
|
|
INDUSTRY :
|
PALM OIL
|
|
|
|
|
|
|
Oil palm is one of the main drivers of Malaysia's agriculture sector where it
has accounting for 71% of its agricultural land bank. Malaysia is the one
of the biggest producers and exporters of palm oil prodcuts inthe growing
global need for oils and fats. The palm oil industry is expected to grow
about 7.1% over the next 10 years where it is driven by new plantation
expansion, venture of large plantation companies into high potential
downstream activities such as processed food, biodiesel, second generation
biofuel and oleochemicals.
|
|
According to MPOB ( Malaysian Palm Oil Board ) statistics in May/June
2012,imports of processed palm oil continue to rise from 88,000 tonnes (May
2012) and 112,000 tonnes (June 2012).Due to the biological stress on oil
palm trees and following by the bumper harvest in 2011, Oil production is
expected to decline at the end of 2012. The number of palm oil mills in
operation in the malaysia has increased from 53 (Dec 31, 2011) to 55
(second quarter 2012), with another 14 new mills at various stages of
construction.
|
|
The outlook for the palm oil industry is bright, with its price range
between RM3,100 and RM3,840 per tonne in first quarter 2012.This is
equivalent to about 26.6 % of the global oils and fats trade. Furthemore,
at the end of 2012, the demand and the price of palm oil are expected to be
increased due to the adverse weather conditions of the production soy bean
in South America is expected to be declined by 3 to 5% at the end of 2012.
|
|
The unfreezing of India's base import price of refined palm olein is expected
to cause insignificant impact to Malaysian refiners as they have already
established other downstream markets for their refined crude palm oil (CPO)
exports. Furthermore, Malaysia has produced 18.91 million tonnes or 37.65%
of the total palm oil production on 2011 and it has accounted for 17.99
million tonnes or 46.27% of the world exports.
|
|
Under the palm oil National Key Economic Areas (NKEAs) in 2011, the
launches of the Oil Palm Replanting and New Planting Smallholders Schemes
ware improved the smallholders agricultural practices in 2012.The oil
extraction rate is set to improve to 21.05% in three-year from 2012 to low
of 19.70% as 1.35 more.
|
|
In driving speedier harvesting of oil palm fruits, the government has
introduced the RM1,000 discount scheme to encourage the use of motorised
sickle called Cantas and diamond blade sharpeners to enhance the palm oil
industry. MPOB appointed 100 enforcement officers to visit mills to ensure
the only good quality crops are processed. Since 2007, the palm oil
industry has grown at an average of 14.5 per cent annualy until 2012. If
the momentum is maitained for next 5 to 8 years, malaysia will achive its
target of two million of hecters palm oil.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1982, the SC is a Partnership company, focusing on gunny
bags, sugar bags, oil palm products, forest woods and rubber woods. The SC has
been in business for over three decades. It has built up a strong clientele
base and satisfactory reputation will enable the SC to further enhance its
business in the near term. The SC is expected to enjoy a stable market
shares.
|
|
The SC focuses only on overseas market. This global approach has enabled
the SC to generate a better growth sales. Being an export-oriented company,
the SC however is subjected to certain inherent risk of global economy
slowdown, foreign currencies fluctuations and stiff competition in the
international market. Overall, we regard that the SC's management
capability is average.
|
|
As the SC is registered as a partnership, it is not required by law to file
its financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
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.
|
|
In view of the above, we recommend credit be granted to the SC with close
monitoring.
|
|