|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
485144-H
|
|
COMPANY NAME
|
:
|
EMAS KIARA INDUSTRIES BHD
|
|
FORMER NAME
|
:
|
EMAS KIARA INDUSTRIES SDN BHD
(17/06/2003)
|
|
INCORPORATION DATE
|
:
|
30/04/1996
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PUBLIC
|
|
LISTED STATUS
|
:
|
YES
|
|
LISTED DATE
|
:
|
30/03/2004
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
THE GARDENS NORTH TOWER, MID VALLEY CITY,
LINGKARAN SYED PUTRA, LEVEL 18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 13, JALAN RP3, RAWANG INDUSTRIAL
ESTATE, 48000 RAWANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-60929898
|
|
FAX.NO.
|
:
|
03-60926602
|
|
WEB SITE
|
:
|
www.emaskiara.com
|
|
CONTACT PERSON
|
:
|
WONG KONG FOO ( CHAIRMAN )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
47510 68104 64200
|
|
PRINCIPAL ACTIVITY
|
:
|
MANUFACTURING AND TRADING AND INSTALLATION OF GEOSYNTHETIC PRODUCTS
AND LIGHTINGS , PROPERTY DEVELOPMENT AND INVESTMENT HOLDING
|
|
AUTHORISED CAPITAL
|
:
|
MYR 50,000,000.00 DIVIDED INTO
ORDINARY SHARE 100,000,000.00 OF MYR 0.50 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 44,622,400.00 DIVIDED INTO
ORDINARY SHARES 89,244,800 CASH OF MYR 0.50 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 44,030,746 [2011]
|
|
NET WORTH
|
:
|
MYR 91,568,271 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
30 [2013]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
|
PROPOSED CREDIT LIMIT
|
:
|
MYR 10,033,000 (USD 3,185,000)
|
|
|
HISTORY
/ BACKGROUND
As a public limited company, the SC must
have at least one shareholder but there is no limit on the maximum number of
shareholders. The SC must have at least two directors. A public 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 liabilities of the shareholders are only up
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 must file in its annual return,
together with its financial statements with the Registrar of Companies. In
Malaysia, all the companies seeking listing on the Bursa Malaysia (Malaysia
Stock Exchange) must be public limited companies.
The SC is principally engaged in the (as a
/ as an) manufacturing and trading and installation of geosynthetic products
and lightings , property development and investment holding.
The SC was listed on the Main Board of
Bursa Malaysia Securities Bhd on 30/03/2004
The major
shareholder(s) of the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MR. WONG KONG FOO +
|
A-29-A,SUASANA SENTRAL CONDOMINIUM, JALAN
STESEN SENTRAL 5, KUALA LUMPUR SENTRAL, 50470 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
600701-10-7281
|
15,979,028.00
|
17.90
|
|
MR. SEE CHII WEI
|
3B, PERSIARAN KUANTAN, SETAPAK, 53200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
690909-10-5439 A1389197
|
7,120,456.00
|
7.98
|
|
INTAN KUALA LUMPUR SDN.BHD.
|
BLOCK E, SOUTH WING, PLAZA MONT KIARA, 2
JALAN KIARA, LEVEL 16, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
37292
|
6,810,804.00
|
7.63
|
|
TAN SRI DATO' KAMARUZZAMAN BIN SHARIFF +
|
|
|
6,561,411.00
|
7.35
|
|
EASTERN COURTYARD SDN. BHD.
|
6-2, JALAN SOLARIS 3, SOLARIS MONT KIARA,
50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
826767
|
5,129,000.00
|
5.75
|
|
MR. LIM YEW HOE +
|
9 SOLOK RAJAWALI, TAMAN BUKIT RAJA, 41150
KLANG, SELANGOR, MALAYSIA.
|
680618-10-5165 A0997790
|
4,611,120.00
|
5.17
|
|
WHE BINA SDN. BHD.
|
NO. 6-2, JALAN SOLARIS 3, SOLARIS MONT' KIARA,
, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
596181
|
3,274,388.00
|
3.67
|
|
RIVIERA COLLECTION SDN. BHD.
|
LOT 11096, BATU 8, JALAN KEPONG, 52100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
757162
|
3,168,000.00
|
3.55
|
|
IMPIANA VENTURE SDN. BHD.
|
6-2, JALAN SOLARIS 3, SOLARIS MONT
KIARA,, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
610871
|
3,150,000.00
|
3.53
|
|
SANDANASAMY RICHARD DOUGLAS
|
|
S0158165A
|
2,885,081.00
|
3.23
|
|
MR. NEOH CHENG AIK
|
15,JALAN ATHINAHAPAN 4, TAMAN TUN DR
ISMAIL, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
481130-71-5291 2799702
|
2,689,322.00
|
3.01
|
|
MS. GOH SIEW BEE
|
A-29-4,SUASANA SENTRAL CONDO, JALAN SETESEN
SENTRAL 5, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
620713-10-6284 6812237
|
2,210,000.00
|
2.48
|
|
MIDLANE ENTITY SDN. BHD.
|
|
398804
|
1,645,000.00
|
1.84
|
|
TEMA MESTIKA SDN. BHD.
|
|
646617
|
1,079,400.00
|
1.21
|
|
REMAINING SHAREHOLDERS
|
|
|
22,931,790.00
|
25.70
|
|
|
|
|
---------------
|
------
|
|
|
|
|
89,244,800.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
The SC interest
in other companies (Subsidiaries/Associates) are shown as follow :
Local No
|
Company
|
(%)
|
As At
|
|
|
NOBLECORP LANDS SDN BHD
|
100
|
31/12/2011
|
|
|
|
|
|
|
|
|
INNOVATIVE INDUSTRIAL TEXTILES SDN BHD
|
100
|
31/12/2011
|
|
|
|
|
|
|
|
|
222368
|
FIBRE INNOVATION TECHNOLOGY SDN BHD
|
100
|
31/12/2011
|
|
|
|
|
|
|
|
|
35172
|
ADVANCE TECHNICAL FABRIC SDN BHD
|
100
|
31/12/2011
|
|
|
|
|
|
|
|
|
226612
|
EMAS KIARA MARKETING SDN BHD
|
100
|
31/12/2011
|
|
|
|
|
|
|
|
|
382558
|
KIARA TEX SDN BHD
|
70
|
31/12/2011
|
|
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. SIEW KAH TOONG
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
HJ ABD TALIB BIN BABA
|
|
Address
|
:
|
25 JALAN SS4A/3, KELANA JAYA, 47301
PETALING JAYA, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
2729321
|
|
New IC No
|
:
|
451017-04-5065
|
|
Date of Birth
|
:
|
17/10/1945
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. YAHYA BIN YA'ACOB
|
|
Address
|
:
|
1, JALAN SS 1/35, KAMPUNG TUNKU, 47300 PETALING
JAYA, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
2776653
|
|
New IC No
|
:
|
440112-01-5071
|
|
Date of Birth
|
:
|
12/01/1944
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
|
|
|
|
|
|
|
|
Qualification
|
:
|
B.A.(HONS) FROM UM & MASTER'S DEGREE IN
BUSS MGTE FROM ASIAN INSTITUTE OF MGTE, MANILA, PHILLIPINES
|
|
Working Experience
|
:
|
IN 1967, WITH THE FINANCE DIVISION,
FEDERAL TREASURY OF MALAYSIA SECRETARY GENERAL OF THE MINISTRY OF
INFORMATION IN OCT 1991 & MINISTRY OF WORKS FROM JULY 1994 - JAN 199
|
|
Other Info
|
:
|
Y.BHG DATUK HAJI
|
DIRECTOR 4
|
Name Of Subject
|
:
|
MR. LIM YEW HOE
|
|
Address
|
:
|
9 SOLOK RAJAWALI, TAMAN BUKIT RAJA, 41150
KLANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
A0997790
|
|
New IC No
|
:
|
680618-10-5165
|
|
Date of Birth
|
:
|
18/06/1968
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
|
|
|
|
|
|
|
|
Qualification
|
:
|
BACHELOR OF SCIENCE DEGREE IN ACCOUNTING
FROM SUMMIT UNIVERSITY, US IN 1999. MASTERS IN BUSINESS ADMINISTRATION FROM
GREENWICH UNIVERSITY, AUSTRALIA IN 2001
|
|
Working Experience
|
:
|
HE HAS MORE THAN 10 YEARS EXPERIENCE IN
THE GEOSYNTHETIC INDUSTRY. HE STARTED HIS CAREER AS AN ASSISTANT ACCOUNTANT
OF VITCO (M) SDN BHD ("VITCO") IN 1989 HE WAS PROMOTED TO
OPERATIONS MANAGER OF AMPRESS (M) SDN BHD, A SUBSIDIARY COMPANY OF VITCO
INVOLVED IN TRADING OF GEOSYNTHETICS IN 1992
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
TAN SRI DATO' KAMARUZZAMAN BIN SHARIFF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN MALAY
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject
|
:
|
MR. WONG KONG FOO
|
|
Address
|
:
|
A-29-A,SUASANA SENTRAL CONDOMINIUM, JALAN
STESEN SENTRAL 5, KUALA LUMPUR SENTRAL, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
600701-10-7281
|
|
Date of Birth
|
:
|
01/07/1960
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
WONG KONG FOO
|
|
|
Position
|
:
|
CHAIRMAN
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SYLVIA NG
|
|
|
Position
|
:
|
FINANCE MANAGER
|
|
|
|
|
|
|
3)
|
Name of Subject
|
:
|
LEE
|
|
|
Position
|
:
|
MARKETING MANAGER
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
CROWE HORWATH
|
|
Auditor' Address
|
:
|
TOWER C, MEGAN AVENUE II, 12 JALAN YAP
KWAN SENG, LEVEL 16, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. LIM HOOI MOOI
|
|
|
IC / PP No
|
:
|
5584641
|
|
|
New IC No
|
:
|
590814-10-6262
|
|
|
Address
|
:
|
28,JALAN 20/7, 46300 PETALING JAYA,
SELANGOR, 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 has no trade 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
|
[
|
|
]
|
|
Average 61-90 Days
|
[
|
X
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
SINGAPORE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Services
|
:
|
INVESTMENT HOLDING
|
|
|
|
|
|
Competitor(s)
|
:
|
CARPET PLUS SDN BHD
KAMDAR GROUP (M) BHD
MADRAS STORE SDN BHD
NEW CENTURY CONCEPTS SDN BHD
PONEY GARMENTS SDN BHD
|
|
|
|
|
|
Ownership of premises
|
:
|
OWNED
|
|
Total Number of Employees:
|
|
|
YEAR
|
2013
|
2011
|
2008
|
|
|
|
|
|
|
|
|
|
GROUP
|
30
|
300
|
300
|
|
|
|
|
|
|
|
COMPANY
|
N/A
|
0
|
0
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing and trading
and installation of geosynthetic products and lightings , property
development and investment holding.
The Group's core business activity was in manufacturing of geosynthetic products
and technical fabrics for technical, engineering and industrial application.
However since 2011 it sold this business to TenCate Geosynthetics Asia Sdn
Bhd since 2011. Currently the SC only undertakes installation and trading of
geosynthetic products ,lightings and others.
Besides this, the SC also involved in property development business.
PROJECTS
No projects found in our databank
RECENT
DEVELOPMENT
23 July 2012.
The Board of Directors of Emas Kiara Industries Berhad wishes to announce
that the Company has, via its wholly-owned subsidiary, Innovative Industrial
Textiles Sdn Bhd (221690-V) acquired two (2) ordinary shares of RM1.00 each,
representing 100% of the issued and paid-up share capital in Asian Culture
Food Sdn Bhd (formerly known as Beringin Leisure Park Sdn Bhd) (969397-W), a
dormant company, from the non-related third parties for a total cash
consideration of RM2.00 on 23 July 2012.
Upon the completion of the above acquisition of shares, Asian Culture Food
Sdn Bhd (formerly known as Beringin Leisure Park Sdn Bhd) shall become a
wholly-owned subsidiary of EKIB Group.
None of the Directors, major shareholders of the Company and/or persons
connected with them has any interest, direct and/or indirect in the above
acquisition of shares.
14 May 2012
The Board of Directors of Emas Kiara Industries Berhad is pleased to announce
that Noblecorp Sdn Bhd (formerly known as Bold Universal Sdn Bhd) (Company
No. 953731-H) (Purchaser), a wholly-owned subsidiary of EKIB Group, had on 11
May 2012 entered into a Sale and Purchase Agreement (SPA) with Creative City
Development Sdn Bhd (Company No. 832735-W) of Lot 2902, Jalan Kempas Baru,
81200 Tampoi, Johor (Vendor) for the acquisition of a piece of land held
under H.S.(D) 33103 PTD 46986, Mukim Kulai, Daerah Kulaijaya, Negeri Johor
measuring 194,740.48 square feet (18,092 square metres) (Land) for a total
purchase consideration of RM5,257,992.96 (Acquisition of Land).
Mar 21 2011
TenCate Geosynthetics Asia has acquired of the geosynthetics activities of
Emas Kiara Industries Berhad, based in Rawang, Malaysia. The addition of Emas
Kiara production capabilities, employees and product brands is intended to
provide TenCate Geosynthetics with a greater capacity to supply the Southeast
Asian market. Emas Kiara Industries is a producer and supplier of
geosynthetic products, targeted at customers in Asia. TenCate geosynthetics
business in the region is currently concentrated on environmental,
infrastructure and water management applications, including Geotube used for
coast protection, land reclamation and environmental dewatering projects.
Wally Moore, global group director TenCate Geosynthetics, said: In
combination with the existing production activities of TenCate Geosynthetics
in Malaysia and China, and the existing pan-Asian market activities, TenCate
is expanding its leading market position. As a result of this acquisition,
TenCate substantially increases the revenues of geosynthetics in this region.
Emas Kiara will continue non-geosynthetic related business, as well as
maintaining their geosynthetic construction and installation activities with
product supply from TenCate.
CURRENT
INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
+60 66771988
|
|
Current Telephone Number
|
:
|
03-60929898
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
LOT 6, JALAN BUNGA TANJONG 1, SENAWANG
INDUSTRIAL PARK, 70400 SEREMBAN, NEGERI SEMBILAN,
|
|
Current Address
|
:
|
LOT 13, JALAN RP3, RAWANG INDUSTRIAL
ESTATE, 48000 RAWANG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the SC and she provided some information on
the SC.
TenCate Geosynthetics Asia Sdn Bhd has acquired of the geosynthetics
activities of Emas Kiara Industries Berhad
The address and contact number provided belongs to the fomer manufacturing
plant of the SC.
FINANCIAL
ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Erratic
|
[
|
2007 - 2011
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
2007 - 2011
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Unfavourable
|
[
|
<12.55%>
|
]
|
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
<11.80%>
|
]
|
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The SC
incurred losses during the year due to the inefficient control of its operating
costs. The SC's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Working Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Unfavourable
|
[
|
93 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
256 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Unfavourable
|
[
|
112 Days
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC could be incurring higher holding cost.
As its capital was tied up in stocks, it could face liquidity problems. The
SC's debtors ratio was high. The SC should tighten its credit control and
improve its collection period. The unfavourable creditors' ratio could be
due to the SC taking advantage of the credit granted by its suppliers.
However this may affect the goodwill between the SC and its suppliers and
the SC may inadvertently have to pay more for its future supplies.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Favourable
|
[
|
3.58 Times
|
]
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
4.00 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
|
:
|
Nil
|
[
|
0.00 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.02 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was nil as it did
not pay any interest during the year. The SC was lowly geared thus it had a
low financial risk. The SC was mainly financed by its shareholders' funds
and internally generated funds. In times of economic slowdown / downturn,
the SC being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The SC's losses increased but its
turnover showed a fluctuating trend. This indicate the SC was slowly losing
its market share due to its competitors. 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. 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 as a lowly geared company, will be more secured
compared to those highly geared companies. It has the ability to meet all its
long term obligations.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC :
FAIR
|
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
|
|
47510 : Retail sale of textiles in
specialized stores
|
|
68104 : Development of building projects
for own operation, i.e. for renting of space in these buildings
|
|
64200 : Activities of holding companies
|
|
|
|
|
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 Public Listed company, focusing on
manufacturing and trading and installation of geosynthetic products and
lightings , property development and investment holding. Having been in the
industry for over a decade, 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. The SC is a large entity with
strong capital position.
|
|
Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the SC to further
enhance its business in the near term. Overall, we regard that the SC's
management capability is average.
|
|
Due to the challenging market conditions, the SC's business performance
seems to be deteriorating and losses incurred. The SC has generated an
unfavourable return on shareholders' funds indicating that the management
was inefficient in utilising its funds to generate return. 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. Being a lowly geared company, the SC is exposed
to low financial risk as it is mainly dependent on its internal funds to
finance its business needs. Given a positive net worth standing at MYR
91,568,271, the SC should be able to maintain its business in the near
terms.
|
|
The SC's payment habit is average.
|
|
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)
|
|
EMAS KIARA INDUSTRIES BHD
|
|
Financial Year End
|
31/12/2011
|
31/12/2010
|
31/12/2009
|
31/12/2008
|
31/12/2007
|
|
Months
|
12
|
12
|
12
|
12
|
12
|
|
Consolidated Account
|
GROUP
|
GROUP
|
GROUP
|
GROUP
|
GROUP
|
|
Audited Account
|
YES
|
YES
|
YES
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean
Opinion)
|
YES
|
YES
|
YES
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
FULL
|
FULL
|
FULL
|
|
Currency
|
MYR
|
MYR
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
TURNOVER
|
44,030,746
|
146,846,751
|
137,451,786
|
150,257,792
|
102,939,927
|
|
Other Income
|
10,178,368
|
1,714,531
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
54,209,114
|
148,561,282
|
137,451,786
|
150,257,792
|
102,939,927
|
|
Costs of Goods Sold
|
<44,610,884>
|
<136,325,903>
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Gross Profit
|
9,598,230
|
12,235,379
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
<10,997,646>
|
1,463,754
|
10,855,935
|
13,262,997
|
5,213,384
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
<10,997,646>
|
1,463,754
|
10,855,935
|
13,262,997
|
5,213,384
|
|
Taxation
|
<656,022>
|
<733,171>
|
<2,830,224>
|
<2,776,692>
|
<1,294,355>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
<11,653,668>
|
730,583
|
8,025,711
|
10,486,305
|
3,919,029
|
|
Minority interests
|
163,665
|
7,147
|
1,519,755
|
708,883
|
674,046
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
<11,490,003>
|
737,730
|
9,545,466
|
11,195,188
|
4,593,075
|
|
Extraordinary items
|
28,321,664
|
6,835,900
|
55,316
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO
SHAREHOLDERS
|
16,831,661
|
7,573,630
|
9,600,782
|
11,195,188
|
4,593,075
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
|
|
As previously reported
|
39,531,030
|
33,280,417
|
24,939,875
|
13,744,687
|
9,151,612
|
|
Prior year adjustment
|
-
|
<87,841>
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
39,531,030
|
33,192,576
|
24,939,875
|
13,744,687
|
9,151,612
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
56,362,691
|
40,766,206
|
34,540,657
|
24,939,875
|
13,744,687
|
|
- General
|
-
|
25,064
|
-
|
-
|
-
|
|
DIVIDENDS - Ordinary (paid &
proposed)
|
<10,709,376>
|
<1,260,240>
|
<1,260,240>
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
45,653,315
|
39,531,030
|
33,280,417
|
24,939,875
|
13,744,687
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to
P&L)
|
|
|
|
|
|
|
Bank overdraft
|
-
|
-
|
62
|
26,316
|
3,076
|
|
Hire purchase
|
-
|
-
|
463,605
|
511,465
|
126,447
|
|
Term loan / Borrowing
|
-
|
-
|
151,976
|
227,607
|
315,560
|
|
Others
|
-
|
-
|
4,005,663
|
690,965
|
569,443
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
-
|
-
|
4,621,306
|
1,456,353
|
1,014,526
|
|
|
|
=============
|
=============
|
=============
|
=============
|
BALANCE
SHEET
|
EMAS KIARA INDUSTRIES BHD
|
|
ASSETS EMPLOYED:
|
|
|
|
|
|
|
FIXED ASSETS
|
11,104,494
|
9,707,027
|
69,484,460
|
72,430,196
|
60,372,615
|
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
|
|
|
Investment properties
|
-
|
-
|
171,139
|
174,793
|
178,447
|
|
Deferred assets
|
-
|
-
|
99,000
|
320,000
|
448,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
-
|
-
|
270,139
|
494,793
|
626,447
|
|
|
|
|
|
|
|
|
INTANGIBLE ASSETS
|
|
|
|
|
|
|
Own goodwill
|
-
|
-
|
3,102,796
|
-
|
-
|
|
Goodwill on consolidation
|
-
|
-
|
-
|
3,185,873
|
3,185,873
|
|
Others
|
140,000
|
-
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL INTANGIBLE ASSETS
|
140,000
|
-
|
3,102,796
|
3,185,873
|
3,185,873
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
11,244,494
|
9,707,027
|
72,857,395
|
76,110,862
|
64,184,935
|
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
Stocks
|
11,261,728
|
32,261,089
|
31,907,830
|
31,380,500
|
26,082,018
|
|
Trade debtors
|
30,875,109
|
61,257,572
|
62,587,851
|
37,282,714
|
36,711,944
|
|
Other debtors, deposits & prepayments
|
2,854,932
|
4,286,493
|
7,450,890
|
4,646,969
|
5,315,904
|
|
Short term deposits
|
47,686,609
|
19,309,896
|
11,378,010
|
15,131,672
|
9,477,827
|
|
Cash & bank balances
|
15,201,277
|
4,838,316
|
17,137,982
|
10,299,240
|
6,881,962
|
|
Others
|
1,443,332
|
69,766,130
|
12,022,655
|
459,640
|
676,873
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
109,322,987
|
191,719,496
|
142,485,218
|
99,200,735
|
85,146,528
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
120,567,481
|
201,426,523
|
215,342,613
|
175,311,597
|
149,331,463
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
|
Trade creditors
|
13,706,220
|
18,207,516
|
38,025,994
|
12,717,770
|
9,449,897
|
|
Other creditors & accruals
|
11,099,427
|
11,504,235
|
10,780,827
|
6,731,040
|
5,612,308
|
|
Hire purchase & lease creditors
|
454,282
|
2,726,642
|
2,161,737
|
1,845,739
|
622,615
|
|
Short term borrowings/Term loans
|
11,400
|
60,446,696
|
61,144,152
|
16,470,166
|
2,287,090
|
|
Other borrowings
|
-
|
-
|
-
|
5,000,000
|
2,300,000
|
|
Bill & acceptances payable
|
-
|
-
|
-
|
-
|
5,753,000
|
|
Provision for taxation
|
2,084,602
|
922,695
|
1,162,074
|
738,433
|
267,781
|
|
Other liabilities
|
10
|
-
|
92,488
|
40,000,000
|
40,000,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
27,355,941
|
93,807,784
|
113,367,272
|
83,503,148
|
66,292,691
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
81,967,046
|
97,911,712
|
29,117,946
|
15,697,587
|
18,853,837
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
93,211,540
|
107,618,739
|
101,975,341
|
91,808,449
|
83,038,772
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
|
Ordinary share capital
|
44,622,400
|
42,730,100
|
42,008,000
|
42,008,000
|
42,008,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
44,622,400
|
42,730,100
|
42,008,000
|
42,008,000
|
42,008,000
|
|
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
Share premium
|
3,175,414
|
2,968,756
|
2,889,896
|
2,889,896
|
2,889,896
|
|
Capital reserve
|
-
|
4,096
|
4,096
|
4,096
|
4,096
|
|
Exchange equalisation/fluctuation reserve
|
<2,278,019>
|
<1,265,924>
|
<639,898>
|
<270,705>
|
<201,019>
|
|
Retained profit/(loss) carried forward
|
45,653,315
|
39,531,030
|
33,280,417
|
24,939,875
|
13,744,687
|
|
Others
|
21,294
|
65,338
|
-
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
46,572,004
|
41,303,296
|
35,534,511
|
27,563,162
|
16,437,660
|
|
|
|
|
|
|
|
|
MINORITY INTEREST
|
373,867
|
537,532
|
1,016,330
|
2,422,885
|
3,131,768
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
91,568,271
|
84,570,928
|
78,558,841
|
71,994,047
|
61,577,428
|
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
|
|
|
Long term loans
|
257,298
|
4,925,187
|
5,307,268
|
1,557,227
|
2,197,519
|
|
Hire purchase creditors
|
1,213,673
|
4,210,804
|
4,474,770
|
4,926,715
|
1,735,060
|
|
Deferred taxation
|
172,298
|
3,911,820
|
3,634,462
|
3,330,460
|
2,528,765
|
|
Others
|
-
|
10,000,000
|
10,000,000
|
10,000,000
|
15,000,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
1,643,269
|
23,047,811
|
23,416,500
|
19,814,402
|
21,461,344
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
93,211,540
|
107,618,739
|
101,975,341
|
91,808,449
|
83,038,772
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
EMAS KIARA INDUSTRIES BHD
|
|
TYPES OF FUNDS
|
|
|
|
|
|
|
Cash
|
62,887,886
|
24,148,212
|
28,515,992
|
25,430,912
|
16,359,789
|
|
Net Liquid Funds
|
62,887,886
|
24,148,212
|
28,515,992
|
25,430,912
|
16,359,789
|
|
Net Liquid Assets
|
70,705,318
|
65,650,623
|
<2,789,884>
|
<15,682,913>
|
<7,228,181>
|
|
Net Current Assets/(Liabilities)
|
81,967,046
|
97,911,712
|
29,117,946
|
15,697,587
|
18,853,837
|
|
Net Tangible Assets
|
93,071,540
|
107,618,739
|
98,872,545
|
88,622,576
|
79,852,899
|
|
Net Monetary Assets
|
69,062,049
|
42,602,812
|
<26,206,384>
|
<35,497,315>
|
<28,689,525>
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
|
Total Borrowings
|
1,936,653
|
72,309,329
|
73,087,927
|
29,799,847
|
9,142,284
|
|
Total Liabilities
|
28,999,210
|
116,855,595
|
136,783,772
|
103,317,550
|
87,754,035
|
|
Total Assets
|
120,567,481
|
201,426,523
|
215,342,613
|
175,311,597
|
149,331,463
|
|
Net Assets
|
93,211,540
|
107,618,739
|
101,975,341
|
91,808,449
|
83,038,772
|
|
Net Assets Backing
|
91,568,271
|
84,570,928
|
78,558,841
|
71,994,047
|
61,577,428
|
|
Shareholders' Funds
|
91,568,271
|
84,570,928
|
78,558,841
|
71,994,047
|
61,577,428
|
|
Total Share Capital
|
44,622,400
|
42,730,100
|
42,008,000
|
42,008,000
|
42,008,000
|
|
Total Reserves
|
46,572,004
|
41,303,296
|
35,534,511
|
27,563,162
|
16,437,660
|
|
LIQUIDITY (Times)
|
|
|
|
|
|
|
Cash Ratio
|
2.30
|
0.26
|
0.25
|
0.30
|
0.25
|
|
Liquid Ratio
|
3.58
|
1.70
|
0.98
|
0.81
|
0.89
|
|
Current Ratio
|
4.00
|
2.04
|
1.26
|
1.19
|
1.28
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
|
|
Stock Ratio
|
93
|
80
|
85
|
76
|
92
|
|
Debtors Ratio
|
256
|
152
|
166
|
91
|
130
|
|
Creditors Ratio
|
112
|
49
|
101
|
31
|
34
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
|
Gearing Ratio
|
0.02
|
0.86
|
0.93
|
0.41
|
0.15
|
|
Liabilities Ratio
|
0.32
|
1.38
|
1.74
|
1.44
|
1.43
|
|
Times Interest Earned Ratio
|
0.00
|
0.00
|
3.35
|
10.11
|
6.14
|
|
Assets Backing Ratio
|
1.07
|
1.23
|
1.13
|
1.01
|
0.91
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
|
Operating Profit Margin
|
<24.98>
|
1.00
|
7.90
|
8.83
|
5.06
|
|
Net Profit Margin
|
<26.10>
|
0.50
|
6.94
|
7.45
|
4.46
|
|
Return On Net Assets
|
<11.80>
|
1.36
|
15.18
|
16.03
|
7.50
|
|
Return On Capital Employed
|
<11.68>
|
1.32
|
14.30
|
14.83
|
6.92
|
|
Return On Shareholders' Funds/Equity
|
<12.55>
|
0.87
|
12.15
|
15.55
|
7.46
|
|
Dividend Pay Out Ratio (Times)
|
0.93
|
1.71
|
0.13
|
0.00
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
|
|
Contingent Liabilities
|
0
|
0
|
0
|
0
|
0
|
|