|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
236108-V
|
|
COMPANY NAME
|
:
|
ALLIED FOODSERVICE EQUIPMENT SDN BHD
|
|
FORMER NAME
|
:
|
ALLIED HOTEL & RESTAURANT EQUIPMENT
SDN BHD (21/12/1998)
|
|
INCORPORATION DATE
|
:
|
13/03/1992
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
91, JALAN SS 15/4C, 47500 SUBANG JAYA,
SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
92, 94 & 96 JALAN MUTIARA BARAT 6,
TAMAN TAYNTON VIEW OFF JALAN CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-91335833
|
|
FAX.NO.
|
:
|
03-91325933
|
|
CONTACT PERSON
|
:
|
YAP SIEW VOON ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
47532
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING IN SERVICING OF KITCHEN EQUIPMENT
AND UTENSIL
|
|
AUTHORISED CAPITAL
|
:
|
MYR 1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 1,000,000.00 DIVIDED INTO
ORDINARY SHARES 950,000 CASH AND 50,000 OTHERWISE OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
30 [2013]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
The SC is an exempt private company which
is allowed to have a minimum of two and a maximum of twenty shareholders and
all the shareholders must be individuals. An exempt company is a type of
private limited company. 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, suing or be sued by other companies.
The SC is governed by the Companies Act, 1965 and must file in its annual
return. The SC need not file in its financial statements but it has to file
in a document duly signed by its director in charge of its finance, the
secretary and its auditor stating that the SC is able to meet all its
obligations as and when they fall due. Although the SC is not required to
file in its financial statements, it also has to prepare its financial
account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a
/ as an) trading in servicing of kitchen equipment and utensil.
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. YAP SIEW VOON +
[APPOINTED AS MD ON 17/03/1992]
|
110,JALAN MIDAH BESAR, TAMAN MIDAH,
CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
610814-10-6487
|
800,000.00
|
80.00
|
|
MS. ON YONG CHUN YUEH +
|
17 JALAN CHERAS ZEN 3, TAMAN CHERAS ZEN
PARK, JALAN CHERAS 7TH MILE, 43200 KAJANG, SELANGOR, MALAYSIA.
|
650217-05-5286 A0052946
|
200,000.00
|
20.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,000,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MS. ON YONG CHUN YUEH
|
|
Address
|
:
|
17 JALAN CHERAS ZEN 3, TAMAN CHERAS ZEN
PARK, JALAN CHERAS 7TH MILE, 43200 KAJANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
A0052946
|
|
New IC No
|
:
|
650217-05-5286
|
|
Date of Birth
|
:
|
17/02/1965
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
13/10/2003
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. YAP SIEW VOON
|
|
Address
|
:
|
110,JALAN MIDAH BESAR, TAMAN MIDAH,
CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
610814-10-6487
|
|
Date of Birth
|
:
|
14/08/1961
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
13/03/1992
|
|
Remark
|
:
|
APPOINTED AS MD ON 17/03/1992
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
YAP SIEW VOON
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
KONG CHEONG & CO
|
|
Auditor' Address
|
:
|
91B JALAN SS 15/4C, 47500 SUBANG JAYA,
SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. LOH CHUN PIN
|
|
|
|
|
|
|
|
New IC No
|
:
|
680128-10-5170
|
|
|
Address
|
:
|
5 LORONG MENGKUANG, TELOK PULAI, 41100
KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MR. KONG NGIN SANG
|
|
|
|
|
|
|
|
New IC No
|
:
|
541120-08-6171
|
|
|
Address
|
:
|
168-11-2,KIARA PARK, JLN.BURHANUDDIN
HELMI, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
OCBC BANK (MALAYSIA) 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
|
:
|
25/01/2006
|
|
Description Of Charge
|
:
|
OPEN CHARGE
|
|
Amount Secured
|
:
|
o/d
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
OCBC BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 3 In The Register
of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
08/07/2011
|
|
Description Of Charge
|
:
|
OPEN CHARGE
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
OCBC BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
|
|
Registered and Numbered 5 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
|
|
Import Countries
|
:
|
ASIA,EUROPE,UNITED STATES
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
AS AGREED,DEPOSIT (D/P)
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES,TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
KITCHEN EQUIPMENTS & UTENSILS
|
|
|
|
|
|
Services
|
:
|
FABRICATION AND INSTALLATION OF KITCHEN
EQUIPMENT
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
SMI ASSOCIATION OF MALAYSIA
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2013
|
2012
|
2011
|
2010
|
2009
|
2008
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
COMPANY
|
30
|
30
|
30
|
30
|
30
|
30
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading in servicing of
kitchen equipment and utensil.
The SC undertakes fabrication, supply and installation of kitchen equipments.
The SC fabricates stainless steel kitchen utensils, equipment such as
chillers, freezers and many others.
Some of the brands traded by the SC including Winter Halter, Hamilton and
many others.
The SC supplies its kitchen equipment for both commercial and residential.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest
fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
03-91335833
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
92-96 JALAN MUIJARA BARAT 6, OFF JALAN
CHERAS TAMAN TAYNTON VIEW 56000 KL
|
|
Current Address
|
:
|
92, 94 & 96 JALAN MUTIARA BARAT 6,
TAMAN TAYNTON VIEW OFF JALAN CHERAS, 56000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
The SC is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for
the information of the public. Therefore, we are not able to comment on the
SC's financial performance.
|
|
|
|
|
|
|
|
|
|
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
|
|
47532 : Retail sale of curtains and net
curtains
|
|
|
|
|
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 1992, the SC is a Exempt Private company, focusing on
trading in servicing of kitchen equipment and utensil. The SC has been in
business for over two 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. With
a paid up capital of RM1 million, the SC has greater opportunities to
expand its business when the needs arise. Under the control of its
directors, we considered that the SC's business position in the market is
much dependent on their abilities.
|
|
Over the years, the SC should have build up its clientele base and received
supports from its regular customers. Investigation revealed that the SC's
interest lies mostly in the local market. Thus, any adverse changes to the
local economy might have a negative impact on the SC's business
performance. Being a small company, the SC's business operation is
supported by 30 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.
|
|
As the SC is registered as an Exempt Private company, it is not required to
file financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
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.
|
|
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 only recommend credit be proceeded to the SC with
guarantee.
|
|