|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
863428-M
|
|
COMPANY NAME
|
:
|
VALE MALAYSIA MINERALS SDN BHD
|
|
FORMER NAME
|
:
|
VALE MALAYSIA MANUFACTURING SDN BHD
(06/03/2012)
|
|
INCORPORATION DATE
|
:
|
07/07/2009
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
LEVEL 21, SUITE 21.01, THE GARDENS SOUTH
TOWER, MID VALLEY CITY, LINGKARAN SYED PUTRA, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
UNIT NO. 17F-PBS-2, IPOH TOWER, JALAN
DATO' SERI AHMAD SAID, GREENTOWN, SUITE 10.02, LEVEL 10, 30450 IPOH, PERAK,
MALAYSIA.
|
|
TEL.NO.
|
:
|
N/A
|
|
FAX.NO.
|
:
|
N/A
|
|
CONTACT PERSON
|
:
|
N/A
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
32120
|
|
PRINCIPAL ACTIVITY
|
:
|
DEVELOP & OPERATE PELLETISING PLANT
|
|
AUTHORISED CAPITAL
|
:
|
MYR 1,995,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,995,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 1,222,845,876.00 DIVIDED INTO
ORDINARY SHARES 1,222,845,876 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
MYR 757,721,314 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
N/A
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
N/A
|
|
CURRENCY EXPOSURE
|
:
|
N/A
|
|
GENERAL REPUTATION
|
:
|
N/A
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
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) develop & operate pelletising plant.
The SC is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the SC is
VALE INTERNATIONAL SA, a company incorporated in SWITZERLAND.
The ultimate holding company of the SC is
VALE S.A., a company incorporated in BRAZIL.
The major
shareholder(s) of the SC are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
VALE INTERNATIONAL SA
|
|
XLZ00214806
|
1,222,845,876.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,222,845,876.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
FABIANO MACHADO DE CASTRO
|
|
Address
|
:
|
UNIT 16, JALAN UTAMA, MARINA ISLAND, KM1
TELUK MUROH, 32200 LUMUT, PERAK, MALAYSIA.
|
|
IC / PP No
|
:
|
FB819504
|
|
|
|
|
|
Date of Birth
|
:
|
08/03/1974
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
05/09/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
JOAO MENDES DE FARIA
|
|
Address
|
:
|
7, TEMASEK BOULEVARD #33-08, SUNTEC TOWER
ONE, SINGAPORE 038987, MALAYSIA.
|
|
IC / PP No
|
:
|
CY387014
|
|
|
|
|
|
Date of Birth
|
:
|
20/02/1964
|
|
|
|
|
|
Nationality
|
:
|
BRAZILIAN
|
|
Date of Appointment
|
:
|
18/08/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
TAN POH OON
|
|
Address
|
:
|
12135, JALAN 3/109F, TAMAN DESA, 58100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
520127-07-5093
|
|
Date of Birth
|
:
|
27/01/1952
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
07/07/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
ANE GUILHERME KOPPERSCHMIDT
|
|
Address
|
:
|
ROOM NO. 2032, THE GARDENS HOTEL &
RESIDENCES, THE GARDENS MID VALLEY CITY, LINGKARAN SYED PUTRA, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
YA485993
|
|
|
|
|
|
Date of Birth
|
:
|
24/11/1965
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
25/02/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
YIAP TIEW KUANG
|
|
Address
|
:
|
18, ELITIS LAMAN HIJAU, VALENCIA
HILLCOURT PRECINCT, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
540515-08-5865
|
|
Date of Birth
|
:
|
15/05/1954
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN CHINESE
|
|
Date of Appointment
|
:
|
07/07/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject
|
:
|
MAURICIO ROCHA UMOND
|
|
Address
|
:
|
UNIT BB-21-01, MK 10 CONDOMINIUM, JALAN KIARA
1, MONT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
FE430497
|
|
|
|
|
|
Date of Birth
|
:
|
27/05/1961
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
05/09/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 7
|
Name Of Subject
|
:
|
MARCELO EDUARDO FIGUEEDO
|
|
Address
|
:
|
WAY 418, VILLA 1266 - THE WAVE, MUSCAT -
OMAN, MALAYSIA.
|
|
IC / PP No
|
:
|
YA064774
|
|
|
|
|
|
Date of Birth
|
:
|
11/05/1964
|
|
|
|
|
|
Nationality
|
:
|
BRAZILIAN
|
|
Date of Appointment
|
:
|
25/02/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
No data found in our databank.
AUDITOR
|
Auditor
|
:
|
PRICEWATERHOUSECOOPERS
|
|
Auditor' Address
|
:
|
LEVEL 15, 1 SENTRAL, JALAN TRAVERS,K.L.
CENTRAL, P.O.BOX 10192, 50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. LIM POH SENG
|
|
|
|
|
|
|
|
New IC No
|
:
|
710228-10-5519
|
|
|
Address
|
:
|
NO. 22, JALAN SS 3/22, 47300 PETALING
JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
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
|
|
|
|
|
CLIENTELE
No data found in our databank.
OPERATIONS
Other Information:
The SC is principally engaged in the (as a / as an) develop & operate pelletising plant.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
60 3 7862 2200
|
|
Current Telephone Number
|
:
|
N/A
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
LEVEL 16, SUITE 16.01 & 16.02, NO. 1
FIRST AVENUE, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR
|
|
Current Address
|
:
|
UNIT NO. 17F-PBS-2, IPOH TOWER, JALAN
DATO' SERI AHMAD SAID, GREENTOWN, SUITE 10.02, LEVEL 10, 30450 IPOH, PERAK,
MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We were unable to contact the SC and its Directors.
On 11th January 2013, we contacted its Company Secretary, Mr
Lim Poh Seng. However, he
informed us that it is inconvenient to contact the SC and its Directors. He
therefore requested us to send all enquires to the registered office for
further information on the SC. He refused to disclose any information on the
SC.
The address and contact number provided belongs to the SC's related company Valeserve Malaysia Sdn Bhd.
Our investigation had revealed that the SC is in the midst of setting up a
regional distribution center located in Lumut, Perak. The centre is scheduled to be operational in 2014.
However its related company refused to reveal any information on the SC.
The management office for the business address refused to cooperate with us
in locating the SC.
We were unable to verify the other address at TELUK RUBIAH SERI MANJUNG 3204,
PERAK, MALAYSIA as we could not contact the SC.
FINANCIAL ANALYSIS
|
The SC's turnover was nil during the year
indicate that it was inactive. As a result, we are unable to comment on its
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
|
|
32120 : Manufacture of imitation jewellery and related articles
|
|
|
|
|
INDUSTRY :
|
MANUFACTURING
|
|
|
|
|
|
|
The manufacturing sector is expected to be driven by higher value-added
activities in Malaysia.The GDP growth for first
quarter 2012 indicating manufacturing maintain its growth of 4.5%, similar
to year 2011.Malaysia recorded a 12% jump in approved investments in the
manufacturing sector in the first quarter of 2012 compared with the
corresponding period 2011. According to Federation of Malaysian
Manufacturers (FMM), manufacturing sector expected to improve in the third
quarter 2012 despite concerns over external developments and the rising
cost of production.
|
|
The rubber products sub-sector is expected to remain resilient supported by
continuous improvements in medical and healthcare standards in emerging
markets as well as demand from niche markets such as the oil and gas sector
for rubber hoses. Malaysia rubber exports are forecast to grow at 10%, at
the end of 2012 driven by global demand for medical gloves as well as
rubber tyres and tubes.Rubber
glove exports make up 70 % of total rubber shipments in Malaysia due to
hospitals and clinics place more intrest on
rising health and hygiene awareness.
|
|
The Malaysia government has growth target of 6.5% for wood based furniture
where estimated to reach up to RM53 billion by year 2020.The government
providing pioneer status for tax exemption and investment tax allowance for
this industry as a boost up step towards produce good quality product and
to meet the world demand.
|
|
Chemical production are expected to show 6.2% in year 2012 and 7.5 % in
year 2013 inline with Malaysia as one of the largest contributor in world
Chemicals & Chemical industries.
|
|
According to Malaysian Iron and Steel Industry Federation, first half of
2012 would remain weak for the local steel industry due to eurozone crisis, slowdown in China's economy and less
robust construction activities in the developed countries. At first quarter
2012, the average local steel price is trading atRM2,300 per tonne compared with the average international price of
US$740 (RM2,331) per tonne.
|
|
According to the Department of Statistics, Malaysia during the first
quarter 2012, the manufacturing output increased due to activities in major
sub-sectors such as petroleum, chemical, rubber and plastic products (10.5
%), and non-metallic mineral products, basic metal and fabricated metal
products (3.9 %). Meanwhile, it's also announced that the manufacturing
sector's sales grew by 10 % in May 2012 to record RM52.5 billion compared with
RM47.7 billion in May 2011. The Industrial Production Index (IPI )
increased 7.6 % in May (2012) due to increases in manufacturing (6.5 %).
|
|
Tax and non-tax incentives provided by goverment
encourage manufacturers to move up the value chain of manufacturing
industry. The new growth initiatives by goverment
in the manufacturing sector such as solar and medial services can be
important drivers of growth apart from helping to diversify the
manufacturing base and contributing to the resilience of the sector.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
During our investigation, we were unable to contact the SC as well as its Directors.
In view of this, the SC's existence in the market is in doubt. Based on the
above condition, the SC is not qualified for credit assessment.
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS)
|
|
VALE MALAYSIA MINERALS SDN BHD
|
|
Financial Year End
|
31/12/2011
|
31/12/2010
|
|
Months
|
12
|
16
|
|
Consolidated Account
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
|
Financial Type
|
FULL
|
FULL
|
|
Currency
|
MYR
|
MYR
|
|
|
|
|
|
TURNOVER
|
0
|
0
|
|
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
<26,532,160>
|
<9,693,490>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
<26,532,160>
|
<9,693,490>
|
|
Taxation
|
0
|
<189,412>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
<26,532,160>
|
<9,882,902>
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously reported
|
<9,882,902>
|
0
|
|
|
----------------
|
----------------
|
|
As restated
|
<9,882,902>
|
-
|
|
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
<36,415,062>
|
<9,882,902>
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
<36,415,062>
|
<9,882,902>
|
|
|
=============
|
=============
|
|
|
|
|
BALANCE SHEET
|
VALE MALAYSIA MINERALS SDN BHD
|
|
ASSETS EMPLOYED:
|
|
|
|
FIXED ASSETS
|
778,517,884
|
254,144,478
|
|
|
|
|
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
778,517,884
|
254,144,478
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
Other debtors, deposits & prepayments
|
711,102
|
205,481
|
|
Cash & bank balances
|
5,238,135
|
790,425
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
5,949,237
|
995,906
|
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
784,467,121
|
255,140,384
|
|
|
=============
|
=============
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Other creditors & accruals
|
26,697,200
|
3,494,485
|
|
Amounts owing to holding company
|
48,607
|
-
|
|
Amounts owing to related companies
|
-
|
12,729
|
|
Dividends payable/proposed
|
-
|
189,412
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
26,745,807
|
3,696,626
|
|
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
<20,796,570>
|
<2,700,720>
|
|
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
757,721,314
|
251,443,758
|
|
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
3,500,000
|
3,500,000
|
|
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
3,500,000
|
3,500,000
|
|
|
|
|
|
RESERVES
|
|
|
|
Share premium
|
790,636,376
|
-
|
|
Retained profit/(loss) carried forward
|
<36,415,062>
|
<9,882,902>
|
|
Others
|
-
|
257,826,660
|
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
754,221,314
|
247,943,758
|
|
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
757,721,314
|
251,443,758
|
|
|
|
|
|
|
----------------
|
----------------
|
|
|
757,721,314
|
251,443,758
|
|
|
=============
|
=============
|
|
|
|
|
FINANCIAL RATIO
|
VALE MALAYSIA MINERALS SDN BHD
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
5,238,135
|
790,425
|
|
Net Liquid Funds
|
5,238,135
|
790,425
|
|
Net Liquid Assets
|
<20,796,570>
|
<2,700,720>
|
|
Net Current Assets/(Liabilities)
|
<20,796,570>
|
<2,700,720>
|
|
Net Tangible Assets
|
757,721,314
|
251,443,758
|
|
Net Monetary Assets
|
<20,796,570>
|
<2,700,720>
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Borrowings
|
0
|
0
|
|
Total Liabilities
|
26,745,807
|
3,696,626
|
|
Total Assets
|
784,467,121
|
255,140,384
|
|
Net Assets
|
757,721,314
|
251,443,758
|
|
Net Assets Backing
|
757,721,314
|
251,443,758
|
|
Shareholders' Funds
|
757,721,314
|
251,443,758
|
|
Total Share Capital
|
3,500,000
|
3,500,000
|
|
Total Reserves
|
754,221,314
|
247,943,758
|
|
LIQUIDITY (Times)
|
|
|
|
Cash Ratio
|
0.20
|
0.21
|
|
Liquid Ratio
|
0.22
|
0.27
|
|
Current Ratio
|
0.22
|
0.27
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
0
|
0
|
|
Debtors Ratio
|
0
|
0
|
|
Creditors Ratio
|
0
|
0
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
|
Liabilities Ratio
|
0.04
|
0.01
|
|
Times Interest Earned Ratio
|
0.00
|
0.00
|
|
Assets Backing Ratio
|
216.49
|
0.21
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
0.00
|
0.00
|
|
Net Profit Margin
|
0.00
|
0.00
|
|
Return On Net Assets
|
<3.50>
|
<3.86>
|
|
Return On Capital Employed
|
<3.50>
|
<3.86>
|
|
Return On Shareholders' Funds/Equity
|
<3.50>
|
<3.93>
|
|
Dividend Pay Out Ratio (Times)
|
0.00
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
|
Contingent Liabilities
|
0
|
0
|
|