|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
DONGWHA GLOBAL SALES SDN BHD |
|
|
|
|
Formerly Known As : |
DONGWHA PARQUET SDN BHD |
|
|
|
|
Registered Office : |
Symphony House, Block D13, Pusat Dagangan Dana 1, Jalan Pju 1a/46, Level 8, 47301 Petaling Jaya, Selangor |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
29.12.1990 |
|
|
|
|
Com. Reg. No.: |
210228-T |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Trading of fibreboard |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Slow |
|
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 |
* Adopted abbreviations : |
SC - Subject Company (the company enquired by you) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
210228-T |
|
COMPANY NAME |
: |
DONGWHA GLOBAL SALES SDN BHD |
|
FORMER NAME |
: |
DONGWHA PARQUET SDN BHD (29/05/2012) |
|
INCORPORATION DATE |
: |
29/12/1990 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU 1A/46,
LEVEL 8, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
MENARA CITIBANK, LEVEL 39, SUITE 39.04A, 165, JALAN AMPANG, 50450
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-21610216 |
|
FAX.NO. |
: |
03-21610215 |
|
CONTACT PERSON |
: |
KIM HYUN SEOG ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
51431 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FIBREBOARD |
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
MYR 1,153,411 [2011] |
|
BANKER (S) |
|
MALAYAN BANKING BHD |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) trading of fibreboard.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the SC is DONGWHA MALAYSIA HOLDINGS SDN BHD, a company incorporated in MALAYSIA.
The ultimate holding company of the SC is DONGWHA INTERNATIONAL CO. LTD, a company incorporated in HONG KONG.
The major
shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DONGWHA MALAYSIA HOLDINGS SDN BHD |
SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU 1A/46, LEVEL 8, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
617880 |
50,000,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
50,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
KIM HYUN SEOG |
|
Address |
: |
A-22-2, KIARAVILLE CONDOMINIUM, CHANGKAT DUTA KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
M83246070 |
|
|
|
|
|
Date of Birth |
: |
30/11/1967 |
|
|
|
|
|
Nationality |
: |
KOREAN |
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
KIM WON BAE |
|
Address |
: |
167-22-8, GURNEY PARK, MAPLE TOWER, PERSIARAN GURNEY, 10250 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
M87197998 |
|
|
|
|
|
Date of Birth |
: |
25/10/1969 |
|
|
|
|
|
Nationality |
: |
KOREAN |
DIRECTOR 3
|
Name Of Subject |
: |
OHK SANG WOO |
|
Address |
: |
16, DENAI PINANG 2, E & O, TANJONG TOKONG, 10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
M42839153 |
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
25/07/2012 |
|
1) |
Name of Subject |
: |
KIM HYUN SEOG |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
DELOITTE & TOUCHE |
|
Auditor' Address |
: |
UPTOWN 1, 1 JALAN SS 21/58, DAMANSARA UPTOWN, LEVEL 19, 47400 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. CHIN NGEOK MUI |
|
|
IC / PP No |
: |
7311328 |
|
|
New IC No |
: |
640423-10-7826 |
|
|
Address |
: |
3, JALAN IBU KOTA 4, TAMAN IBU KOTA, GOMBAK, 53100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
2) |
Company Secretary |
: |
MS. CHEN BEE LING |
|
|
IC / PP No |
: |
A2824767 |
|
|
New IC No |
: |
740719-06-5256 |
|
|
Address |
: |
B-3-3A, PANGSAPURI IMPIAN, OFF JALAN PIPIT, BANDAR PUCHONG JAYA, 47100
PUCHONG, SELANGOR, MALAYSIA. |
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. |
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.
CLIENTELE
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
The SC refused to disclose information on its clientele.
|
Goods Traded |
: |
|
|||||
|
|
|
|
|||||
|
Award |
: |
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
|
|||||
|
|
|
|
|||||
|
Member(s) / Affiliate(s) |
: |
SMI ASSOCIATION OF MALAYSIA |
|||||
|
|
|
|
|
Branch |
: |
|
Other Information:
The SC is principally engaged in the (as a /
as an) trading of fibreboard.
The SC refused to disclose any information on its operation.
No projects found in our databank
We have checked with the Malaysian National News Agency's (BERNAMA)
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
067995777 |
|
Current Telephone Number |
: |
03-21610216 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
LOT 833, MUKIM PADANG MEHA, 09400 PADANG SERAI,KULIM,KEDAH DARUL AMAN, MALAYSIA |
|
Current Address |
: |
MENARA CITIBANK, LEVEL 39, SUITE 39.04A, 165, JALAN AMPANG, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted Puan
Raziah from the SC and she provided some information on the SC.
The SC refused to disclose its number of employees.
The SC temporarily ceased its operation in manufacture and sale of parquet and
just restarted its business operation in trading of fibreboard.
The sale for year 2011 was nil represent the invoiced value of goods sold during the financial year is less than returns and discounts.
Overall Assessment :
The sale for year 2011 was nil represent the invoiced value of goods sold during the financial year is less than return and discounts.As a result we are unable to comment on its financial performance.
Overall financial condition of the SC : N/A
|
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 |