MIRA INFORM REPORT

 

 

Report Date :

22.01.2013

 

IDENTIFICATION DETAILS

 

Name :

JUST BRILLIANT SDN BHD

 

 

Registered Office :

53, Jalan Ss 15/4, Subang Jaya, Petaling Jaya, Selangor, 47500 Subang Jaya, Selangor

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

14.08.1997

 

 

Com. Reg. No.:

442929-K

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Supplying Industrial Products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

442929-K

COMPANY NAME

:

JUST BRILLIANT SDN BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

14/08/1997

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

53, JALAN SS 15/4, SUBANG JAYA, PETALING JAYA, SELANGOR, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.

BUSINESS ADDRESS

:

12, JALAN BULAN U5/9 SEKSYEN U5, SUNGAI BULOH BATU 3, 40150 SHAH ALAM, SELANGOR, MALAYSIA.

TEL.NO.

:

N/A

FAX.NO.

:

N/A

CONTACT PERSON

:

N/A

 

 

 

INDUSTRY CODE

:

46531

PRINCIPAL ACTIVITY

:

SUPPLYING INDUSTRIAL PRODUCTS

AUTHORISED CAPITAL

:

MYR 100,000.00 DIVIDED INTO
ORDINARY SHARE 100,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 100,000.00 DIVIDED INTO
ORDINARY SHARES 100,000 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 3,065,646 [2011]

NET WORTH

:

MYR 2,006,614 [2011]

 

 

 

STAFF STRENGTH

:

N/A

BANKER (S)

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

N/A

 

 

 

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

N/A

INDUSTRY OUTLOOK

:

MARGINAL 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) supplying industrial 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

(%)

CHAU, TAI-LONG +

20 KUNG YEH ROAD, ERH CHEN TSUN, KUAN TIEN HSIANG;TAINAN HSIEN, MALAYSIA.

215511040

99,999.00

100.00

MR. CHONG KONG KEONG +

8, JALAN 33, DESA JAYA, KEPONG, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

691129-10-5301 A1393470

1.00

0.00

 

 

 

---------------

------

 

 

 

100,000.00

100.00

 

 

 

============

=====

 

+ Also Director

DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

MR. CHUA GUAN BENG

Address

:

B-8-12, IMPIAN HEIGHTS, OFF JALAN PIPIT, PUCHONG JAYA, 47100 PUCHONG, SELANGOR, MALAYSIA.

IC / PP No

:

6347149

New IC No

:

611115-04-5237

Date of Birth

:

15/11/1961

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

02/03/1999

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MR. CHUNG KAY LEONG

Address

:

9, JALAN BK 2/1, BANDAR KINRARA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

A0591729

New IC No

:

661121-08-5011

Date of Birth

:

21/11/1966

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

02/07/2009

 

DIRECTOR 3

 

Name Of Subject

:

MR. CHONG KONG KEONG

Address

:

8, JALAN 33, DESA JAYA, KEPONG, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

A1393470

New IC No

:

691129-10-5301

Date of Birth

:

29/11/1969

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

02/03/1999

 

DIRECTOR 4

 

Name Of Subject

:

CHAU, TAI-LONG

Address

:

20 KUNG YEH ROAD, ERH CHEN TSUN, KUAN TIEN HSIANG;TAINAN HSIEN, MALAYSIA.

IC / PP No

:

215511040

 

 

 

Date of Birth

:

10/06/1947

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

07/05/1999

 

MANAGEMENT


No data found in our databank.

AUDITOR

 

Auditor

:

YENG & CO.

Auditor' Address

:

53A & 53B,JLN.SS15/4, 47500 SUBANG JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. WONG KONG MENG

 

 

 

 

 

New IC No

:

571208-07-5239

 

Address

:

BLOCK A-204, NO.1,JALAN 16/18, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

The SC enjoys normal banking routine with above mentioned banker(s). The SC has bank charges with above mentioned banker(s).

 

ENCUMBRANCE (S)



ENCUMBRANCE 1

Date of Creation

:

21/04/2006

Description Of Charge

:

OPEN CHARGE

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 1 In The Register of Charges



ENCUMBRANCE 2

Date of Creation

:

21/04/2006

Description Of Charge

:

OPEN CHARGE

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered 2 In The Register of Charges



LEGAL CHECK AGAINST SC


* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank.

No winding up petition was found in our databank.

DEFAULTER CHECK AGAINST SC


* We have checked through the SC in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection since 1990. Information was provided by third party where the debt amount can be disputed. Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed.

No blacklisted record & debt collection case was found in our defaulters' databank.

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 



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

:

N/A

 

 

 

Overseas

:

N/A

 

 

 

 

 

OPERATIONS

 

Competitor(s)

:

ANN JOO METAL SDN. BHD.
SIME DARBY INDUSTRIAL SDN BHD
UMW (EAST MALAYSIA) SDN BHD
UMW CORPORATION SDN BHD
UNITED BINTANG BHD

 

 

 

 

 

 

 

 

 

Total Number of Employees:

YEAR

2011

2010

 

 

GROUP

N/A

N/A

 

 

 

 

 

 

 

COMPANY

8

5

 

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) supplying industrial products.

PROJECTS


No projects found in our databank

CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

603 7846 6936

Current Telephone Number

:

N/A

Match

:

N/A

 

 

 

Address Provided by Client

:

12, JALAN BULAN U5/9 SEKSYEN U5, SUNGAI BULOH BATU 3,40150,SHAH ALAM,SELANGOR.

Current Address

:

12, JALAN BULAN U5/9 SEKSYEN U5, SUNGAI BULOH BATU 3, 40150 SHAH ALAM, SELANGOR, MALAYSIA.

Match

:

N/A

 

 

 

Latest Financial Accounts

:

YES

 

Other Investigations


We were unable to contact the SC and its Directors.

On 15th January 2013 we contacted the SC's Company Secretary and its Auditor. However they refused to disclose any information on the SC.

The contact number provided at 03-78466936 is left unanswered despite contacting on numerous ocassions.

We found contact number for the SC at 03-7846 8813 However it is a fax line.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

2009 - 2011

]

 

Profit/(Loss) Before Tax

:

Decreased

[

2009 - 2011

]

 

Return on Shareholder Funds

:

Acceptable

[

14.63%

]

 

Return on Net Assets

:

Acceptable

[

21.33%

]

 

 

 

 

 

 

 

 

The SC's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The dip in profit could be due to the stiff market competition which reduced the SC's profit margin. The SC's management had generated acceptable return for its shareholders using its assets.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Unfavourable

[

85 Days

]

 

Debtor Ratio

:

Favourable

[

32 Days

]

 

Creditors Ratio

:

Unfavourable

[

80 Days

]

 

 

 

 

 

 

 

 

The SC could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The favourable debtors' days could be due to the good credit control measures implemented by the SC. 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

[

2.31 Times

]

 

Current Ratio

:

Favourable

[

3.41 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

:

Favourable

[

15.28 Times

]

 

Gearing Ratio

:

Favourable

[

0.23 Times

]

 

 

 

 

 

 

 

 

The interest cover showed that the SC was able to service the interest. The favourable interest cover could indicate that the SC was making enough profit to pay for the interest accrued. 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 :

 

 

 

 

 

 

Although the SC's turnover had increased, its profits had declined over the same corresponding period. This could be due to the stiffer market competition and / or higher operating costs which lowered the SC's profit margin. 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. With the favourable interest cover, the SC could be able to service all the accrued interest without facing any difficulties. 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 : STRONG

 

 

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

46531 : Wholesale of agricultural machinery, equipment and supplies

 

 

INDUSTRY :

MACHINERY

 

 

 


Malaysia is presently the leading manufacturer of automation machinery and equipment (M&E) for the electrical and electronics (E&E) industry in the ASEAN region with a total of 22 companies in production. The machinery and equipment industry has expanded and produce a diverse range of machinery which give importance to the overall industrial development of the country, due to its cross cutting linkages with all industrial sectors.


Malaysia implemented Industrial Master Plan 3 (IMP3, 2006-2020), which the machinery and equipment industry has been established as one of the key areas for growth and development. The implementation focused on the manufacture of high value-added and high technology machinery and equipment (M&E). Under this plan, M&E will positioned Malaysia as the regional production hub for high technology and specialized M&E in the ASEAN region for 2012.


Furthemore for the year 2012, Malaysia is the largest manufacturing hub of boilers in the Southeast Asia region. The exports are mainly directed to the neighboring countries such as Indonesia, Philippines, Thailand and Cambodia.


For enhance the machinery and equipment (M&E), the government has introduced two major tax incentives for companies investing in the manufacturing sector where the pioneer status and the investment tax allowance. The tax incentives would remain to be a competitive industry within ASEAN.

 

 

OVERALL INDUSTRY OUTLOOK : Marginal 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)

JUST BRILLIANT SDN BHD

 

Financial Year End

31/12/2011

31/12/2010

31/12/2009

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

MYR

MYR

MYR

 

 

 

 

TURNOVER

3,065,646

2,681,899

2,676,715

 

----------------

----------------

----------------

Total Turnover

3,065,646

2,681,899

2,676,715

Costs of Goods Sold

<2,068,893>

<1,688,299>

-

 

----------------

----------------

----------------

Gross Profit

996,753

993,600

-

 

----------------

----------------

----------------

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

482,334

534,294

398,807

 

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

482,334

534,294

398,807

Taxation

<188,843>

26,988

<168,684>

 

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

293,491

561,282

230,123

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

As previously reported

1,613,123

1,051,841

821,718

 

----------------

----------------

----------------

As restated

1,613,123

1,051,841

821,718

 

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

1,906,614

1,613,123

1,051,841

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,906,614

1,613,123

1,051,841

 

=============

=============

=============

 

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

 

Term loan / Borrowing

33,774

57,837

34,820

 

----------------

----------------

----------------

 

33,774

57,837

34,820

 

BALANCE SHEET

 

 

JUST BRILLIANT SDN BHD

 

ASSETS EMPLOYED:

 

 

 

FIXED ASSETS

864,764

872,149

904,326

 

 

 

 

 

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

864,764

872,149

904,326

 

 

 

 

CURRENT ASSETS

 

 

 

Stocks

709,964

168,646

377,094

Trade debtors

265,874

451,442

346,679

Other debtors, deposits & prepayments

60,952

106,480

120,600

Short term deposits

508,110

-

-

Cash & bank balances

656,410

765,244

679,727

Others

-

12,000

-

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

2,201,310

1,503,812

1,524,100

 

----------------

----------------

----------------

TOTAL ASSET

3,066,074

2,375,961

2,428,426

 

=============

=============

=============

 

 

 

 

CURRENT LIABILITIES

 

 

 

Trade creditors

452,820

55,906

441,396

Other creditors & accruals

106,395

79,372

108,552

Short term borrowings/Term loans

54,651

50,439

62,138

Provision for taxation

-

-

108,897

Other liabilities

32,157

-

-

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

646,023

185,717

720,983

 

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

1,555,287

1,318,095

803,117

 

----------------

----------------

----------------

TOTAL NET ASSETS

2,420,051

2,190,244

1,707,443

 

=============

=============

=============

 

 

 

 

SHARE CAPITAL

 

 

 

Ordinary share capital

100,000

100,000

100,000

 

----------------

----------------

----------------

TOTAL SHARE CAPITAL

100,000

100,000

100,000

 

 

 

 

RESERVES

 

 

 

Retained profit/(loss) carried forward

1,906,614

1,613,123

1,051,841

 

----------------

----------------

----------------

TOTAL RESERVES

1,906,614

1,613,123

1,051,841

 

 

 

 

 

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

2,006,614

1,713,123

1,151,841

 

 

 

 

LONG TERM LIABILITIES

 

 

 

Long term loans

405,770

470,330

487,673

Deferred taxation

7,667

6,791

67,929

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

413,437

477,121

555,602

 

----------------

----------------

----------------

 

2,420,051

2,190,244

1,707,443

 

=============

=============

=============

 

 

FINANCIAL RATIO

 

JUST BRILLIANT SDN BHD

 

TYPES OF FUNDS

 

 

 

Cash

1,164,520

765,244

679,727

Net Liquid Funds

1,164,520

765,244

617,589

Net Liquid Assets

845,323

1,149,449

426,023

Net Current Assets/(Liabilities)

1,555,287

1,318,095

803,117

Net Tangible Assets

2,420,051

2,190,244

1,707,443

Net Monetary Assets

431,886

672,328

<129,579>

BALANCE SHEET ITEMS

 

 

 

Total Borrowings

460,421

520,769

549,811

Total Liabilities

1,059,460

662,838

1,276,585

Total Assets

3,066,074

2,375,961

2,428,426

Net Assets

2,420,051

2,190,244

1,707,443

Net Assets Backing

2,006,614

1,713,123

1,151,841

Shareholders' Funds

2,006,614

1,713,123

1,151,841

Total Share Capital

100,000

100,000

100,000

Total Reserves

1,906,614

1,613,123

1,051,841

LIQUIDITY (Times)

 

 

 

Cash Ratio

1.80

4.12

0.94

Liquid Ratio

2.31

7.19

1.59

Current Ratio

3.41

8.10

2.11

WORKING CAPITAL CONTROL (Days)

 

 

 

Stock Ratio

85

23

51

Debtors Ratio

32

61

47

Creditors Ratio

80

12

60

SOLVENCY RATIOS (Times)

 

 

 

Gearing Ratio

0.23

0.30

0.48

Liabilities Ratio

0.53

0.39

1.11

Times Interest Earned Ratio

15.28

10.24

12.45

Assets Backing Ratio

24.20

21.90

17.07

PERFORMANCE RATIO (%)

 

 

 

Operating Profit Margin

15.73

19.92

14.90

Net Profit Margin

9.57

20.93

8.60

Return On Net Assets

21.33

27.03

25.40

Return On Capital Employed

21.33

27.03

24.50

Return On Shareholders' Funds/Equity

14.63

32.76

19.98

Dividend Pay Out Ratio (Times)

0.00

0.00

0.00

NOTES TO ACCOUNTS

 

 

 

Contingent Liabilities

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.87

UK Pound

1

Rs.85.52

Euro

1

Rs.71.77

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.