|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRESS METAL SARAWAK SDN. BHD. |
|
|
|
|
Registered Office : |
Kemena Land District, Tanjung Kidurong, Block 20, 15&37, 47800
Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
30.03.2007 |
|
|
|
|
Com. Reg. No.: |
767704-M |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Manufacturing and Trading of Aluminium Products |
|
|
|
|
No. of Employees : |
800 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's economic
growth. The government has also taken steps to liberalize some services
sub-sectors. 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 about 35% of government revenue in
2011. Bank Negera Malaysia (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. |
: |
767704-M |
|
COMPANY NAME |
: |
PRESS METAL SARAWAK SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
30/03/2007 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
KEMENA LAND DISTRICT, TANJUNG KIDURONG, BLOCK 20, 15&37, 47800 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 211 & 212, BLOCK 293, MUKAH LAND DISTRICT, KM 38, JALAN MUKAH
- BALINGAN, 96400 MUKAH, SARAWAK, MALAYSIA. |
|
TEL.NO. |
: |
086-855038 |
|
FAX.NO. |
: |
086-855050 |
|
CONTACT PERSON |
: |
KOON POH TAT ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
24202 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF ALUMINIUM PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 352,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 691,022,621 [2011] |
|
NET WORTH |
: |
MYR 475,349,156 [2011] |
|
STAFF STRENGTH |
: |
800 [2013] |
|
BANKER (S) |
: |
RHB ISLAMIC BANK BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
|
PROPOSED CREDIT LIMIT |
: |
MYR 53,555,000 (USD 17,001,000) |
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) manufacturing and
trading of aluminium products.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the SC is PRESS METAL BERHAD, a company
incorporated in MALAYSIA.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PRESS METAL BERHAD |
LOT 6464, BATU 5 3/4, JALAN KAPAR, SEMENTA, 42100 KLANG, SELANGOR,
MALAYSIA. |
153208 |
281,600,000.00 |
80.00 |
|
SUMMIT GLOBAL MANAGEMENT IX B.V |
STRAWINSKYLAAN 917, 1077 XX ARMSTERDAM, THE NETHERLANDS, FOREIGN |
XLZ00217181 |
70,400,000.00 |
20.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
352,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
DATO' KOON POH TAT |
|
Address |
: |
20, JALAN 29, TAMAN OVERSEAS UNION, OFF JALAN KELANG LAMA, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5586613 |
|
New IC No |
: |
591227-10-6617 |
|
Date of Birth |
: |
27/12/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/07/2009 |
|
Working Experience |
: |
HE HAS MORE THAN 18 YEARS OF EXPERIENCE IN THE ALUMINIUM INDUSTRY. |
DIRECTOR 2
|
Name Of Subject |
: |
MR. KOON POH WENG |
|
Address |
: |
3, JALAN SRI PETALING 4, BANDAR BARU SERI PETALING, 57000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4825342 |
|
New IC No |
: |
550522-10-5827 |
|
Date of Birth |
: |
22/05/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/07/2009 |
|
Qualification |
: |
DIPLOMA IN ENGINEERING |
|
Working Experience |
: |
HE HAS AT LEAST 20 YEARS OF SPECIALIZED EXPERIENCE IN THE FABRICATION,
INSTALLATION AND MARKETING OF ALUMINIUM PRODUCTS. |
DIRECTOR 3
|
Name Of Subject |
: |
DATO' KOON POH KEONG |
|
Address |
: |
17, JALAN SS3/41, TAMAN SUBANG, 47300 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
6189518 |
|
New IC No |
: |
610425-10-6539 |
|
Date of Birth |
: |
25/04/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/07/2007 |
|
Qualification |
: |
BACHELOR OF SCIENCE IN ELECTRICAL ENGINEERING FROM THE UNIVERSITY OF
OKLAHOMA, UNITED STATES OF AMERICA, IN 1986. |
|
Working Experience |
: |
HE WAS THE CHAIRMAN OF ALUMINIUM MANUFACTURING GROUP MALAYSIA FROM
1998 TO 2000. |
DIRECTOR 4
|
Name Of Subject |
: |
MR. KOON POH MING |
|
Address |
: |
19, JALAN SS3/41, TAMAN SUBANG, 47300 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
5028557 |
|
New IC No |
: |
561117-10-5931 |
|
Date of Birth |
: |
17/11/1956 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/07/2007 |
|
Qualification |
: |
DEGREE IN CIVIL AND STRUCTURAL ENGINEERING FROM THE UNIVERSITY OF
WALES, UNITED KINGDOM IN 1981. |
|
Working Experience |
: |
HE HAS ACTIVELY BEEN INVOLVED IN THE FAMILY OWNED ALUMINIUM TRADING
BUSINESS FOR MORE THAN 30 YEARS. |
DIRECTOR 5
|
Name Of Subject |
: |
MASATOSHI ADACHI |
|
Address |
: |
23-171, KAKINOKIDAI, AOBA-KU, YOKOHAMA, KANAGAWA, 227-0048, JAPAN. |
|
IC / PP No |
: |
TZ0231141 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
17/12/2010 |
|
Remark |
: |
CORPORATE OFFICER |
DIRECTOR 6
|
Name Of Subject |
: |
OSAMU ISHIMURA |
|
Address |
: |
1-31-5, AMANUMA, SUGINAMI-KU, TOKYO-TO, JAPAN. |
|
IC / PP No |
: |
TH5133147 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2013 |
|
Remark |
: |
EXECUTIVE OFFICER |
|
1) |
Name of Subject |
: |
KOON POH TAT |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, LEVEL 10, 47800 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MRS. TAI YIT CHAN |
|
|
IC / PP No |
: |
A1167797 |
|
|
New IC No |
: |
690118-10-6160 |
|
|
Address |
: |
56, JALAN SS 22/29, DAMANSARA JAYA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
2) |
Company Secretary |
: |
MS. TAN AI NING |
|
|
IC / PP No |
: |
A1846076 |
|
|
New IC No |
: |
710325-10-5406 |
|
|
Address |
: |
7-8-1, MENARA HARTAMAS, JALAN SRI HARTAMAS 3, 50480 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
RHB ISLAMIC BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 355,000,000.00 |
Unsatisfied |
|
2 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 50,000,000.00 |
Unsatisfied |
|
3 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 380,000,000.00 |
Unsatisfied |
|
4 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 355,000,000.00 |
Unsatisfied |
|
5 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 355,000,000.00 |
Unsatisfied |
|
6 |
25/11/2008 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 355,000,000.00 |
Unsatisfied |
|
7 |
07/07/2009 |
N/A |
MALAYAN BANKING BHD |
MYR 75,000,000.00 |
Unsatisfied |
|
8 |
07/07/2009 |
N/A |
MALAYAN BANKING BHD |
MYR 75,000,000.00 |
Unsatisfied |
|
9 |
07/07/2009 |
N/A |
MALAYAN BANKING BHD |
MYR 75,000,000.00 |
Unsatisfied |
|
10 |
28/07/2009 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 430,000,000.00 |
Unsatisfied |
|
11 |
28/07/2009 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 75,000,000.00 |
Unsatisfied |
|
12 |
10/11/2010 |
FACILITY AGREEMENT |
MAYBANK ISLAMIC BERHAD |
MYR 150,000,000.00 |
Unsatisfied |
|
13 |
10/11/2010 |
FACILITY AGREEMENT |
MAYBANK ISLAMIC BERHAD |
MYR 150,000,000.00 |
Unsatisfied |
|
14 |
10/11/2010 |
FACILITY AGREEMENT |
MAYBANK ISLAMIC BERHAD |
MYR 150,000,000.00 |
Unsatisfied |
* 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Competitor(s) |
: |
SHOWA DENKO HD (MALAYSIA) SDN BHD
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
800 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing and trading
of aluminium products.
The SC is related company of Press Metal Berhad.
The SC is aluminium smelting company.
Built upon approximately 366 hectares or 905 acres of land, its primary focus
will be on major heavy industrial manufacturing development in Sarawak,
Malaysia.
No projects found in our databank
March 31, 2012
PRESS Metal Bhd's new 240,000-tonne-a-year aluminium smelter in Samalaju
Industrial Park, Bintulu is expected to start operations in June. Sarawak
Energy Berhad (SEB) chief executive officer Torstein Dale Sjotveit confirmed
this in a report by The Star recently. SEB would supply 480MW to the new
smelting plant.
Press Metal already owns and operates Malaysia's first aluminium smelter in
Balingian, Mukah Division, which is currently operating at a full capacity of
120,000 tonnes per annum. The plant uses technology provided by Aluminium
Corporation of China Limited (CHALCO), the top aluminium company in China and the
fourth largest aluminium player in the world. CHALCO's parent company Aluminium
Corp of China (CHINALCO) is actually in a joint venture with Gulf International
Investment Group Holdings Sdn Bhd (GIIGH) called Smelter Asia, to jointly
develop a US$1.6 billion (RM4.95 billion) aluminium smelting plant with an
annual capacity of 370,000 tonnes in Samalaju.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
086-855038 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LOT 6464, BATU 5 3/4, JALAN KAPAR, SEMENTA, 42100 KLANG, SELANGOR
DARUL EHSAN |
|
Current Address |
: |
LOT 211 & 212, BLOCK 293, MUKAH LAND DISTRICT, KM 38, JALAN MUKAH
- BALINGAN, 96400 MUKAH, SARAWAK, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 2nd July 2013 we contacted one of the staff from the SC and she provided
some information on the SC.
The address provided belongs to the SC's related company Press Metal Berhad.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.87% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
11.67% |
] |
|
|
The SC's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. The SC's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
50 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
The SC's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be
due to the good credit control measures implemented by the SC. The SC had a
favourable creditors' ratio where the SC could be taking advantage of the
cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.72 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.01 Times |
] |
|
|
A low liquid ratio means that the SC may be facing working capital
deficiency. If the SC cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Acceptable |
[ |
5.04 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.94 Times |
] |
|
|
The SC's interest cover was slightly low. If there is no sharp fall in
its profit or sudden increase in the interest rates, we believe the SC is
able to generate sufficient income to service its interest and repay the
loans. The SC's gearing was slightly high. The SC is utilising the leverage
concept to fund its expansion. However, the high gearing has added financial
risks to the SC. It will be more vulnerable in times of economy downturn. |
||||||
|
Overall Assessment : |
|
|
|
|
|
|
|
Generally, the SC's performance has improved with higher turnover and
profit. Due to its weak liquidity position, the SC will be faced with
problems in meeting all its short term obligations if no short term loan is
obtained or additional capital injected into the SC. The SC had an acceptable
interest cover. If there is no sudden sharp increase in interest rate or fall
in the SC's profit, we do believe the SC is able to generate sufficient cash
flow to service its interest payment. The SC's gearing was slightly high and
its financial risk was also high. If no plans are made to reduce its gearing,
the SC's performance may deteriorate in the coming year. |
||||||
|
Overall financial condition of the SC : FAIR |
||||||
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
<0.5> |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
<2.7> |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
<17.2> |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
<1.2> |
|
Investment ( % ) |
8.0 |
2.8 |
<0.3> |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
<28,450> |
<40,482> |
<45,511> |
<42,297> |
<39,993> |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
<4.8> |
<5.6> |
<5.4> |
<4.5> |
<4.0> |
|
Inflation ( % Change in Composite CPI) |
<5.2> |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
<0.1> |
6.2 |
3.0 |
<0.0> |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
<34.5> |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
<1.1> |
<3.4> |
10.8 |
<2.8> |
- |
|
Rubber |
<19.8> |
9.9 |
6.1 |
<0.6> |
- |
|
Forestry & Logging |
<5.9> |
<3.3> |
<7.6> |
<2.2> |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
<0.7> |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
<3.8> |
0.2 |
<5.7> |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
<1.7> |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
<9.4> |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented Industries |
<19.0> |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
<30.3> |
28.4 |
<4.9> |
1.6 |
- |
|
Rubber Products |
<10.1> |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
<24.1> |
20.1 |
<4.9> |
4.6 |
- |
|
Textiles & Apparel |
<19.5> |
<0.4> |
14.8 |
<7.1> |
- |
|
Domestic-oriented Industries |
<9.8> |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
<7.7> |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
<9.1> |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
<32.7> |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
<2.5> |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
<15.5> |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
<13.5> |
36.5 |
<10.4> |
13.7 |
- |
|
Paper & Paper Products |
<5.0> |
18.7 |
14.8 |
<7.8> |
- |
|
Crude Oil Refineries |
0.2 |
<11.4> |
9.3 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production Index |
|||||
|
MSIC CODE |
|
|
24202 : Production of aluminium from alumina |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
The Manufacturing sector is one of the important sectors to the growth
of the Malaysian economy. According to Ministry of Finance, the manufacturing
sector is expected to grow 4.9% in year 2013. Export oriented-industries are
expected to benefit from the higher growth of global trade, while
domesticoriented industries expand in line with the better consumer sentiment
and business confidence. The resource-based industries are envisaged to grow
steadily attributed to improved demand for petroleum, chemical, rubber and
plastic products. With better job prospects and higher disposable income, the
transportation equipment subsector, in particular, the passenger car segment
is expected to expand. |
|
|
Value-added of the manufacturing sector expanded 5% during the first
half of 2012. Output of the sector rose 5.2% during the first sevenmonths of
2012 in line with the increase in sales value of manufactured products by
6.5% to RM363.1 billion. Output from domesticoriented industries continued to
expand 8.6% while export-oriented industries grew 4.1%. |
|
|
According to the Department of Statistics, the sales value of the
Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion)
to record RM52.4 billion as compared to RM48.8 billion reported in year 2012.
Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2
billion) as compared with the preceding month. The sales value in December
2012 has been revised positive 7.5% year-on-year to record RM52.6 billion. |
|
|
Output of rubber products increased 3.6% in the first seven month of
2012 mainly supported by continuous demand for rubber gloves. Output of
rubber gloves grew 5.9% on account of the expansion in the global healthcare
industry and wider usage of gloves in other sectors. Similarly, output of
catheters, especially for use in medical appliances, also registered a strong
growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced
10.9% in tandem with slowing external demand from the automotive industry,
especially China. |
|
|
Meanwhile, production of wood and wood products rebounded 4.6% largely
supported by higher demand for wooden and cane furniture (33.5%). The
positive performance was attributed to vibrant higher demand from major
export destinations such as China and the United States (US) for
Malaysian-made furniture. Demand from China accelerated further following the
country's rising income level and the implementation of zero import duty on
Malaysian made-furniture. 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. |
|
|
The output of chemicals and chemical products rose 9.9% in the first
seven month of year 2012 on account of increasing demand for plastic products
(11.8%) and basic chemicals (11.1%). External demand for plastic packaging
materials surged during the early part of the year 2012, particularly from
Japan and Thailand, as manufacturers resumed operations, which were
interrupted by natural calamities and power outages. Chemical production are
expected to show 7.5 % in year 2013 inline with Malaysia as one of the
largest contributor in world Chemicals & Chemical industries. |
|
|
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 assolar 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 |
|
Incorporated in 2007, the SC is a Private Limited company, focusing on
manufacturing and trading of aluminium products. Having been in the industry
for only 6 years, the SC is growing fast with a paid up capital of MYR
352,000,000. With a huge paid up capital, the SC is allowed to expand its
business comfortably. The SC is well backed by a listed company shareholders which
would stimulate further growth for the SC. Hence, the potential growth of the
SC is positive. We are confident with the SC's business and its future growth
prospect.
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 large entity, the SC has a steady workforce
of 800 personnel to support its business operations. Its future prospects seem
to be fairly good as its business operations are running relatively stable. The
SC has a good management capability. Its capable management team has enabled
the SC to keep its business on going. Hence, the future prospect of the SC is
bright.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Return on shareholders' funds of the
SC was at an acceptable range which indicated that the management was efficient
in utilising its funds to generate income. Due to its weak liquidity position,
the SC may face working capital deficiency in meeting its short term financial
obligations if no fresh capital are injected into the SC. The gearing level of
the SC is slightly high, therefore it faces moderate financial risk.
Nevertheless, given a positive net worth standing at MYR 475,349,156, the SC
should be able to maintain its business in the near terms.
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key suppliers
and insufficient quantities of its raw materials. Overall the SC has a good control
over its resources.
Overall, the SC's payment habit is good as the SC has a good credit control and
it could be taking advantage of the cash discounts while maintaining a good
reputation with its creditors.
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
promptly.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
PRESS METAL SARAWAK SDN. 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 |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
691,022,621 |
450,292,659 |
70,639,990 |
- |
- |
|
Other Income |
5,374,370 |
7,229,862 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
696,396,991 |
457,522,521 |
70,639,990 |
- |
- |
|
Costs of Goods Sold |
<548,540,964> |
<367,012,385> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
147,856,027 |
90,510,136 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
92,451,649 |
47,810,573 |
18,266,401 |
<832,996> |
<4,041> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
92,451,649 |
47,810,573 |
18,266,401 |
<832,996> |
<4,041> |
|
Taxation |
<17,022,496> |
<12,075,122> |
<5,244,812> |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
75,429,153 |
35,735,451 |
13,021,589 |
<832,996> |
<4,041> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
123,349,156 |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
123,349,156 |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
|
|
============= |
============= |
============= |
============= |
============= |
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
22,869,008 |
13,904,293 |
4,640,003 |
2,818 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
22,869,008 |
13,904,293 |
4,640,003 |
2,818 |
|
|
PRESS METAL SARAWAK SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
984,757,125 |
625,466,841 |
402,173,717 |
234,245,352 |
- |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Development properties/expenditure |
- |
- |
18,299,089 |
7,639,099 |
- |
|
Others |
- |
1,665,628 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
1,665,628 |
18,299,089 |
7,639,099 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
984,757,125 |
627,132,469 |
420,472,806 |
241,884,451 |
- |
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
94,446,673 |
72,900,788 |
37,143,337 |
- |
- |
|
Trade debtors |
10,775 |
- |
70,642,576 |
- |
- |
|
Other debtors, deposits & prepayments |
14,449,373 |
328,643,045 |
413,108,484 |
143,485,323 |
- |
|
Deposits with financial institutions |
5,100,000 |
3,524,197 |
- |
- |
- |
|
Amount due from related companies |
216,194,202 |
- |
- |
- |
- |
|
Cash & bank balances |
2,359,650 |
672,650 |
2,067,017 |
3,043,053 |
- |
|
Others |
45,000 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
332,605,673 |
405,740,680 |
522,961,414 |
146,528,376 |
36,581 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,317,362,798 |
1,032,873,149 |
943,434,220 |
388,412,827 |
36,581 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
3,835,733 |
1,907,926 |
- |
- |
- |
|
Other creditors & accruals |
57,405,223 |
19,647,156 |
12,254,408 |
1,648,422 |
- |
|
Hire purchase & lease creditors |
4,474,114 |
2,438,658 |
- |
- |
- |
|
Short term borrowings/Term loans |
86,000,000 |
86,000,000 |
131,029,487 |
49,400 |
- |
|
Other borrowings |
20,000,000 |
15,000,000 |
- |
- |
- |
|
Bill & acceptances payable |
118,094,860 |
109,889,773 |
- |
- |
- |
|
Other liabilities & accruals |
- |
- |
9,379,067 |
29,200 |
- |
|
Amounts owing to holding company |
39,228,709 |
56,037,591 |
- |
- |
- |
|
Amounts owing to related companies |
487,535 |
1,810,516 |
22,305,578 |
2,422,850 |
- |
|
Provision for taxation |
- |
15,427 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
329,526,174 |
292,747,047 |
174,968,540 |
4,149,872 |
40,612 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
3,079,499 |
112,993,633 |
347,992,874 |
142,378,504 |
<4,031> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
987,836,624 |
740,126,102 |
768,465,680 |
384,262,955 |
<4,031> |
|
|
============= |
============= |
============= |
============= |
============= |
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
352,000,000 |
352,000,000 |
50,000,000 |
50,000,000 |
10 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
352,000,000 |
352,000,000 |
50,000,000 |
50,000,000 |
10 |
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
123,349,156 |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
123,349,156 |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
475,349,156 |
399,920,003 |
62,184,552 |
49,162,963 |
<4,031> |
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Long term loans |
215,000,000 |
301,000,000 |
390,286,907 |
200,175,567 |
- |
|
Lease obligations |
5,350,562 |
3,966,513 |
- |
- |
- |
|
Deferred taxation |
34,263,676 |
17,246,951 |
5,244,812 |
- |
- |
|
Others |
257,873,230 |
17,992,635 |
310,749,409 |
134,924,425 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
512,487,468 |
340,206,099 |
706,281,128 |
335,099,992 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
987,836,624 |
740,126,102 |
768,465,680 |
384,262,955 |
<4,031> |
|
|
============= |
============= |
============= |
============= |
============= |
|
PRESS METAL SARAWAK SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
2,359,650 |
672,650 |
2,067,017 |
3,043,053 |
- |
|
Net Liquid Funds |
<115,735,210> |
<109,217,123> |
2,067,017 |
3,043,053 |
- |
|
Net Liquid Assets |
<91,367,174> |
40,092,845 |
310,849,537 |
142,378,504 |
<4,031> |
|
Net Current Assets/(Liabilities) |
3,079,499 |
112,993,633 |
347,992,874 |
142,378,504 |
<4,031> |
|
Net Tangible Assets |
987,836,624 |
740,126,102 |
768,465,680 |
384,262,955 |
<4,031> |
|
Net Monetary Assets |
<603,854,642> |
<300,113,254> |
<395,431,591> |
<192,721,488> |
<4,031> |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
448,919,536 |
518,294,944 |
521,316,394 |
200,224,967 |
- |
|
Total Liabilities |
842,013,642 |
632,953,146 |
881,249,668 |
339,249,864 |
40,612 |
|
Total Assets |
1,317,362,798 |
1,032,873,149 |
943,434,220 |
388,412,827 |
36,581 |
|
Net Assets |
987,836,624 |
740,126,102 |
768,465,680 |
384,262,955 |
<4,031> |
|
Net Assets Backing |
475,349,156 |
399,920,003 |
62,184,552 |
49,162,963 |
<4,031> |
|
Shareholders' Funds |
475,349,156 |
399,920,003 |
62,184,552 |
49,162,963 |
<4,031> |
|
Total Share Capital |
352,000,000 |
352,000,000 |
50,000,000 |
50,000,000 |
10 |
|
Total Reserves |
123,349,156 |
47,920,003 |
12,184,552 |
<837,037> |
<4,041> |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.01 |
0.00 |
0.01 |
0.73 |
- |
|
Liquid Ratio |
0.72 |
1.14 |
2.78 |
35.31 |
- |
|
Current Ratio |
1.01 |
1.39 |
2.99 |
35.31 |
0.90 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
50 |
59 |
286 |
0 |
- |
|
Debtors Ratio |
0 |
0 |
365 |
0 |
- |
|
Creditors Ratio |
3 |
2 |
0 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.94 |
1.30 |
8.38 |
4.07 |
- |
|
Liabilities Ratio |
1.77 |
1.58 |
14.17 |
6.90 |
<10.07> |
|
Times Interest Earned Ratio |
5.04 |
4.44 |
4.94 |
<294.60> |
- |
|
Assets Backing Ratio |
2.81 |
2.10 |
15.37 |
7.69 |
<403.10> |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
13.38 |
10.62 |
25.86 |
0.00 |
- |
|
Net Profit Margin |
10.92 |
7.94 |
18.43 |
0.00 |
- |
|
Return On Net Assets |
11.67 |
8.34 |
2.98 |
<0.22> |
100.25 |
|
Return On Capital Employed |
11.62 |
8.31 |
2.98 |
<0.22> |
100.25 |
|
Return On Shareholders' Funds/Equity |
15.87 |
8.94 |
20.94 |
<1.69> |
100.25 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.90.78 |
|
Euro |
1 |
Rs.77.81 |
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.