|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIRGOZ OILS & FATS SDN. BHD. |
|
|
|
|
Registered Office : |
B-3-9, Block B, Megan Avenue Ii, 12 Jalan Yap Kwan Seng, 3rd Floor,
50450 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
09.09.2009 |
|
|
|
|
Com. Reg. No.: |
871487-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Marketing and Being a Commission agent for Palm Oil Products |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
malaysia - ECONOMIC OVERVIEW
Malaysia, a
middle-income country, has transformed itself since the 1970s from a producer
of raw materials into an emerging multi-sector economy. Under current Prime
Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020
and to move farther up the value-added production chain by attracting
investments in Islamic finance, high technology industries, biotechnology, and
services. The NAJIB administration also is continuing efforts to boost domestic
demand and reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with strained government finances, has
forced Kuala Lumpur to begin to reduce government subsidies. The government is
also trying to lessen its dependence on state oil producer Petronas. The oil
and gas sector supplies more than 40% of government revenue. The central bank
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia''s exposure to riskier financial instruments and
the global financial crisis. Nevertheless, Malaysia could be vulnerable to a
fall in commodity prices or a general slowdown in global economic activity
because exports are a major component of GDP. In order to attract increased
investment, NAJIB has raised possible revisions to the special economic and
social preferences accorded to ethnic Malays under the New Economic Policy of
1970, but he has encountered significant opposition, especially from Malay
nationalists and other vested interests.
|
Source : CIA |
|
REGISTRATION NO. |
: |
871487-U |
|
COMPANY NAME |
: |
VIRGOZ OILS & FATS SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
09/09/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
B-3-9, BLOCK B, MEGAN AVENUE II, 12 JALAN YAP KWAN SENG, 3RD FLOOR,
50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
A-16-13A, LEVEL 16, MENARA UOA BANGSAR, NO.5, JALAN BANGSAR UTAMA 1,
59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-22888775 |
|
FAX.NO. |
: |
03-22848777 |
|
CONTACT PERSON |
: |
ANTHONY FRANCIS ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
46202 |
|
PRINCIPAL ACTIVITY |
: |
MARKETING AND BEING A COMMISSION AGENT FOR
PALM OIL PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 1,721,897 [2011] |
|
NET WORTH |
: |
MYR 636,873 [2011] |
|
STAFF STRENGTH |
: |
10 [2013] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) marketing and being
a commission agent for palm oil products.
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 |
(%) |
|
DAVID VGO + |
A-12-3, ZEHN CONDOMINIUM, 10, JALAN BUKIT PANTAI,
59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
U687608 |
100,000.00 |
10.00 |
|
JHONNY VGO + |
JLN ISKANDAR MUDA, NO. 107, MEDAN, INDONESIA. |
609480 |
100,000.00 |
10.00 |
|
IDEAL TRIBUTE SDN. BHD. |
A-16-13A,LEVEL 16 MENARA UOA BANGSAR, NO.5,JALAN
BANGSAR UTAMA 1, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
894790 |
800,000.00 |
80.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. ANTHONY FRANCIS A/L THYRIAM XAVIER |
|
Address |
: |
NO.16, JALAN 1/80B, BUKIT BANDARAYA, BANGSAR, 59100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
560515-10-6505 |
|
Date of Birth |
: |
15/05/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
16/04/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
DAVID VGO |
|
Address |
: |
A-12-3, ZEHN CONDOMINIUM, 10, JALAN BUKIT PANTAI, 59100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
U687608 |
|
Date of Birth |
: |
14/02/1986 |
|
Date of Appointment |
: |
22/01/2010 |
DIRECTOR 3
|
Name Of Subject |
: |
JHONNY VGO |
|
Address |
: |
JLN ISKANDAR MUDA, NO. 107, MEDAN, INDONESIA. |
|
IC / PP No |
: |
609480 |
|
|
|
|
|
Date of Birth |
: |
04/11/1980 |
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
10/09/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
ANTHONY FRANCIS |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
SU HOW SOON & CO. |
|
Auditor' Address |
: |
20-M, JALAN SS21/58, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. CHIN LI THING |
|
|
New IC No |
: |
730506-08-5676 |
|
|
Address |
: |
39, JALAN TEKUKUR, BATU 3, OFF JALAN IPOH, 51100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
2) |
Company Secretary |
: |
MS. TEE JING JING |
|
|
New IC No |
: |
721026-14-5508 |
|
|
Address |
: |
26,JALAN DESA GOMBAK 1, TAMAN DESA GOMBAK, 53000 KUALA LUMPUR,
MALAYSIA. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
* 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The SC refused to disclose its suppliers.
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES,TELEGRAPHIC TRANSFER (TT) |
|||
|
Goods Traded |
: |
PALM OIL PRODUCTS
|
|||||
|
Competitor(s) |
: |
AMBROSIA SDN BHD
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
10 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) marketing and being a
commission agent for palm oil products.
The SC sells palm oil related products.
The SC supplies the products according to its customers' orders.
No projects found in our databank
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-22888775 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
MALAYSIA |
|
Current Address |
: |
A-16-13A, LEVEL 16, MENARA UOA BANGSAR, NO.5, JALAN BANGSAR UTAMA 1,
59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 10th January 2013 we contacted Ms Emily from the SC and she provided some
information on the SC.
The address provided is incomplete.
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
<1.41%> |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
<1.41%> |
] |
|
|
|
|
|
|
|
|
|
|
The SC's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Favourable |
[ |
1.74 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC was in good liquidity position with its current liabilities
well covered by its current assets. With its net current assets, the SC
should be able to repay its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Favourable |
[ |
0.73 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liabilities ratio has minimised the SC's financial risk. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
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 has
high financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : FAIR |
||||||
|
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 |
|
|
|
|
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|
# Based On Manufacturing Production Index |
|||||
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MSIC CODE |
|
|
46202 : Wholesale of palm oil |
|
|
INDUSTRY : |
PALM OIL |
|
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|
|
|
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|
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OVERALL INDUSTRY OUTLOOK : Average Growth |
|
Incorporated in 2009, the SC is a Private Limited company, focusing on
marketing and being a commission agent for palm oil products. The SC has been
in business for less than 5 years and it has slowly been building up contact
with its clients while competing in the industry. However, it has yet to enjoy
a stable market shares as it need to compete many well established players in the
same field. Having strong support from its holding company has enabled the SC
to remain competitive despite the challenging business environment. The capital
standing of the SC is fair.
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. Being a small company, the SC's business operation
is supported by 10 employees. Overall, we regard that the SC's management
capability is average.
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. A low liabilities ratio has minimised the
SC's financial risk. Given a positive net worth standing at MYR 636,873, the SC
should be able to maintain its business in the near terms.
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.
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS)
VIRGOZ OILS & FATS SDN. BHD.
|
Financial Year
End |
31/12/2011 |
|
Months |
12 |
|
Consolidated
Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
1,721,897 |
|
|
---------------- |
|
Total Turnover |
1,721,897 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
<8,951> |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
<8,951> |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<8,951> |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
<354,176> |
|
|
---------------- |
|
As restated |
<354,176> |
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
<363,127> |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
<363,127> |
|
|
============= |
|
|
|
VIRGOZ OILS & FATS SDN. BHD.
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
295,595 |
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
295,595 |
|
CURRENT ASSETS |
|
|
TOTAL CURRENT ASSETS |
804,915 |
|
|
---------------- |
|
TOTAL ASSET |
1,100,510 |
|
|
============= |
|
CURRENT LIABILITIES |
|
|
TOTAL CURRENT LIABILITIES |
463,637 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
341,278 |
|
|
---------------- |
|
TOTAL NET ASSETS |
636,873 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
1,000,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000 |
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
<363,127> |
|
|
---------------- |
|
TOTAL RESERVES |
<363,127> |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
636,873 |
|
|
---------------- |
|
|
636,873 |
|
|
============= |
|
|
|
VIRGOZ OILS & FATS SDN. BHD.
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
341,278 |
|
Net Current Assets/(Liabilities) |
341,278 |
|
Net Tangible Assets |
636,873 |
|
Net Monetary Assets |
341,278 |
|
|
|
|
BALANCE SHEET ITEMS |
|
|
Total Liabilities |
463,637 |
|
Total Assets |
1,100,510 |
|
Net Assets |
636,873 |
|
Net Assets Backing |
636,873 |
|
Shareholders' Funds |
636,873 |
|
Total Share Capital |
1,000,000 |
|
Total Reserves |
<363,127> |
|
|
|
|
LIQUIDITY (Times) |
|
|
Current Ratio |
1.74 |
|
|
|
|
SOLVENCY RATIOS (Times) |
|
|
Liabilities Ratio |
0.73 |
|
Assets Backing Ratio |
0.64 |
|
|
|
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
<0.52> |
|
Net Profit Margin |
<0.52> |
|
Return On Net Assets |
<1.41> |
|
Return On Capital Employed |
<1.41> |
|
Return On Shareholders' Funds/Equity |
<1.41> |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.