|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUMPULAN ANTARASURI SDN. BHD. |
|
|
|
|
Registered Office : |
A-6-1/1, Block A, Megan Phileo Promenade, 189, Jalan Tun Razak, 50400
Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.11.1999 |
|
|
|
|
Com. Reg. No.: |
499449-X |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Palm Oil and Others |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Malaysia |
A1 |
A1 |
|
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. |
: |
499449-X |
|
COMPANY NAME |
: |
KUMPULAN ANTARASURI SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
22/11/1999 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
A-6-1/1, BLOCK A, MEGAN PHILEO PROMENADE, 189, JALAN TUN RAZAK, 50400
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
UNIT D-7-6, BLOCK D MENGAN AVENUE 1 189, JALAN TUN RAZAK, 50400 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-21644670 |
|
FAX.NO. |
: |
03-21812757 |
|
CONTACT PERSON |
: |
MARTIN CHARLES ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
46202 46201 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL AND OTHERS |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 1,209,532 [2011] |
|
NET WORTH |
: |
MYR 1,087,328 [2011] |
|
STAFF STRENGTH |
: |
1 [2013] |
|
BANKER (S) |
|
MALAYAN BANKING BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act,
1965 and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) trading of palm oil
and others.
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 |
(%) |
|
MR. MARTIN CHARLES A/L T.B.FERNANDEZ + |
138, JALAN DATUK SULAIMAN EMPAT, TAMAN TUN DR ISMAIL, 60000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
561208-01-6053 |
899,998.00 |
90.00 |
|
MR. MOHD REDZUAN BIN HARUN + |
5-G, LORONG 7, TAMAN DESA MINANG, MUKIM BATU, 68100 BATU CAVES,
SELANGOR, MALAYSIA. |
570616-05-5865 |
44,001.00 |
4.40 |
|
GLOBAL COMMODITIES (M) SDN. BHD. |
D-7-6 BLOCK D, MEGAN AVENUE I, 189 JALAN TUN RAZAK, 50400 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
161318 |
34,000.00 |
3.40 |
|
MR. ESA BIN ALI @ OTHMAN |
3, JALAN KOSAS 3/10, TAMAN KOSAS, 68000 AMPANG, SELANGOR, MALAYSIA. |
591225-01-5703 |
22,001.00 |
2.20 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. MOHD REDZUAN BIN HARUN |
|
Address |
: |
5-G, LORONG 7, TAMAN DESA MINANG, MUKIM BATU, 68100 BATU CAVES,
SELANGOR, MALAYSIA. |
|
New IC No |
: |
570616-05-5865 |
|
Date of Birth |
: |
16/06/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/12/2000 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. MARTIN CHARLES A/L T.B.FERNANDEZ |
|
Address |
: |
138, JALAN DATUK SULAIMAN EMPAT, TAMAN TUN DR ISMAIL, 60000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
561208-01-6053 |
|
Date of Birth |
: |
08/12/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/01/2000 |
|
1) |
Name of Subject |
: |
MARTIN CHARLES |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
NASHARUDDIN WONG & CO |
|
Auditor' Address |
: |
3A01, BLOCK A, PUSAT PERDAGANGAN PHILEO DAMANSARA 1, JALAN 16/11, OFF
JALAN DAMANSARA, 46350 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. FAWZI BIN ABD AZIZ |
|
|
New IC No |
: |
630325-05-5787 |
|
|
Address |
: |
GREENCOURT PANORAMA 6, PERSIARAN CINTA KASIH 2, COUNTRY HEIGHTS, 43000
KAJANG, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the SC in our defaulters' database which comprised of
debtors that have been blacklisted by our customers and debtors that have been
placed or assigned to us for collection since 1990. Information was provided by
third party where the debt amount can be disputed. Please check with creditors
for confirmation as alleged debts may have been paid since recorded or are
being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
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 |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The SC refused to disclose its clientele.
|
Goods Traded |
: |
PALM OIL, RUBBER, COCO BEANS AND ETC
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
1 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of palm oil and
others.
The SC refused to disclose any information on its operation.
No projects found in our databank
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-21644670 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
UNIT NO. D-7-6 MEGAN AVENUE-I, ND 189 JALAN TUN RAZAK KUALALUMPUR 50400
|
|
Current Address |
: |
UNIT D-7-6, BLOCK D MENGAN AVENUE 1 189, JALAN TUN RAZAK, 50400 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 22nd July 2013 we contacted one of the staff from the SC and she only
provided limited information on the SC.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.98% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
3.16% |
] |
|
|
|
|
|
|
|
|
|
|
The SC's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The SC's
profit fell sharply because of the high operating costs incurred. The
unfavourable return on shareholders' funds could indicate that the SC was
inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
221 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
919 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the SC is a service oriented company, the SC does not need to keep
stocks. The SC's debtors ratio was high. The SC should tighten its credit
control and improve its collection period. 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 |
[ |
1.44 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.44 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.01 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was nil as it did not pay any interest during
the year. The SC had no gearing and hence it had virtually no financial risk.
The SC was financed by its shareholders' funds and internally generated fund.
During the economic downturn, the SC, having a zero gearing, will be able to
compete better than those 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. The SC did
not make any interest payment during the year. The SC was dependent on its
shareholders' funds to finance its business needs. 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 : 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 |
|
|
46202 : Wholesale of palm oil |
|
|
46201 : Wholesale of rubber |
|
|
|
|
|
INDUSTRY : |
PALM OIL |
|
|
|
|
Oil palm is one of the main drivers of Malaysia's agriculture sector
where it has accounting for 71% of its agricultural land bank. Malaysia is
the one of the biggest producers and exporters of palm oil prodcuts in the
growing global need for oils and fats. The palm oil industry is expected to
grow about 7.1% over the next 10 years where it is driven by new plantation
expansion, venture of large plantation companies into high potential
downstream activities such as processed food, biodiesel, second generation
biofuel and oleochemicals. Malaysia currently accounts for 39 % of world palm
oil production and 44% of world exports. Taken into account of other oils
& fats produced in the country, Malaysia accounts for 12% and 27% of the
world's total production and exports of oils and fats. Being one of the
biggest producers and exporters of palm oil and palm oil products, Malaysia
has an important role to play in fulfilling the growing global need for oils
and fats sustainably. |
|
|
In year 2013, the production of crude palm oil is envisaged to rebound
2.5% to 18.9 million tonnes on account of expanded matured areas to 4.44
million hectares. However Malaysian palm oil's supply and demand for February
2013 with palm oil stocks continued to be lower for the consecutive two
months at 2.444 million tonnes, a decrease of 5.23% from January 2013 and was
slightly above the average estimation at 2.42 million tonnes. The exports in
February 2013 fell 13.98% to 1.398 million tonnes while the palm oil
production reduced 19.15% to 1.296 million tonnes. The palm oil production
would be expected to be in dismal as the oil palm had entered a low yield
cycle currently. |
|
|
According to the 2013 Budget, the palm oil sector contracted 8.6%
during the first half of the year 2012 due to the less favourable weather
conditions and natural production down cycle that constrained the output of
fresh fruit bunches. However, the yield is expected to improve in the later
part of the year, with the subsector registering a smaller contraction of
2.8% in 2012. Total planted areas of oil palm increased substantially by
77,106 hectares to five million hectares as at end-June 2012. Of the total
planted areas, 28.4% or 1.5 million hectares are located in Sabah. With the
acceleration of planting activity, total planted areas are expected to
increase to 5.1 million hectares in 2012. |
|
|
According to the Performance Management and Delivery Unit (Pemandu),
the Palm Oil National Key Economic Area (NKEA), Malaysia's most important
commodity is expected to contribute from RM125 billion to RM178 billion to
the Gross National Income (GNI) and create about 41,600 jobs by 2020, with
the government's focus on eight Entry Point Projects (EPPs). As part of the
government's efforts to accelerate the country's replanting and new planting
programme and manage stock levels, the government has allocated an additional
RM432 million as funds for independent smallholders' replanting and new
planting initiatives in 2013. According to Pemandu, the government will also
accelerate the replanting of oil palm by plantations and smallholders as well
as new planting by independent smallholders to 130,000 ha. and raise the area
complying with best practices by an additional 200,000 ha. in 2013. |
|
|
However, the future performance of the industry is unpredictable as
with many factors that can give impact to the industry is still unknown.
Nationally, the sentiments seem positive, internationally there are mixed
signals but with the current growth rate, an expected increase in demand, a
recovering global economy, analysts and industry sources are reckoning that
the bull may be able to hold the bear back. |
|
|
Under the palm oil National Key Economic Areas (NKEAs) in 2011, the
launches of the Oil Palm Replanting and New Planting Smallholders Schemes
ware improved the smallholders agricultural practices in 2012.The oil
extraction rate is set to improve to 21.05% in three-year from 2012 to low of
19.70% as 1.35 more. |
|
|
In driving speedier harvesting of oil palm fruits, the government has
introduced the RM1,000 discount scheme to encourage the use of motorised
sickle called Cantas and diamond blade sharpeners to enhance the palm oil
industry. MPOB appointed 100 enforcement officers to visit mills to ensure
the only good quality crops are processed. Since 2007, the palm oil industry
has grown at an average of 14.5 per cent annualy until 2012. If the momentum
is maitained for next 5 to 8 years, malaysia will achive its target of two
million of hecters palm oil. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Mature |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
KUMPULAN ANTARASURI 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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
1,209,532 |
657,149 |
602,763 |
26,638,585 |
35,297,326 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
1,209,532 |
657,149 |
602,763 |
26,638,585 |
35,297,326 |
|
Costs of Goods Sold |
<949,733> |
<391,430> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
259,799 |
265,719 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
34,236 |
52,528 |
8,078 |
15,424 |
19,003 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
34,236 |
52,528 |
8,078 |
15,424 |
19,003 |
|
Taxation |
<12,755> |
<21,850> |
<1,952> |
<15,180> |
<21,431> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
21,481 |
30,678 |
6,126 |
244 |
<2,428> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
65,847 |
35,169 |
29,043 |
28,799 |
31,227 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
65,847 |
35,169 |
29,043 |
28,799 |
31,227 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
87,328 |
65,847 |
35,169 |
29,043 |
28,799 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
87,328 |
65,847 |
35,169 |
29,043 |
28,799 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
KUMPULAN ANTARASURI SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
19,651 |
34,198 |
48,906 |
27,912 |
21,283 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
19,651 |
34,198 |
48,906 |
27,912 |
21,283 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Trade debtors |
733,404 |
621,818 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
2,370,070 |
2,246,793 |
- |
- |
- |
|
Amount due from director |
206,357 |
102,966 |
- |
- |
- |
|
Cash & bank balances |
200,837 |
231,726 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
3,510,668 |
3,203,303 |
3,222,461 |
3,262,925 |
4,256,906 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
3,530,319 |
3,237,501 |
3,271,367 |
3,290,837 |
4,278,189 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
2,392,498 |
2,171,489 |
- |
- |
- |
|
Other creditors & accruals |
21,683 |
<31,265> |
- |
- |
- |
|
Hire purchase & lease creditors |
5,798 |
10,008 |
- |
- |
- |
|
Provision for taxation |
26,361 |
12,020 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2,446,340 |
2,162,252 |
2,216,788 |
2,255,871 |
3,246,108 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,064,328 |
1,041,051 |
1,005,673 |
1,007,054 |
1,010,798 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,083,979 |
1,075,249 |
1,054,579 |
1,034,966 |
1,032,081 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
87,328 |
65,847 |
35,169 |
29,043 |
28,799 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
87,328 |
65,847 |
35,169 |
29,043 |
28,799 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,087,328 |
1,065,847 |
1,035,169 |
1,029,043 |
1,028,799 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Hire purchase creditors |
- |
5,798 |
- |
- |
- |
|
Deferred taxation |
<3,349> |
3,604 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
<3,349> |
9,402 |
19,410 |
5,923 |
3,282 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,083,979 |
1,075,249 |
1,054,579 |
1,034,966 |
1,032,081 |
|
|
============= |
============= |
============= |
============= |
============= |
|
KUMPULAN ANTARASURI SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
200,837 |
231,726 |
- |
- |
- |
|
Net Liquid Funds |
200,837 |
231,726 |
- |
- |
- |
|
Net Liquid Assets |
1,064,328 |
1,041,051 |
1,005,673 |
1,007,054 |
1,010,798 |
|
Net Current Assets/(Liabilities) |
1,064,328 |
1,041,051 |
1,005,673 |
1,007,054 |
1,010,798 |
|
Net Tangible Assets |
1,083,979 |
1,075,249 |
1,054,579 |
1,034,966 |
1,032,081 |
|
Net Monetary Assets |
1,067,677 |
1,031,649 |
986,263 |
1,001,131 |
1,007,516 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
5,798 |
15,806 |
- |
- |
- |
|
Total Liabilities |
2,442,991 |
2,171,654 |
2,236,198 |
2,261,794 |
3,249,390 |
|
Total Assets |
3,530,319 |
3,237,501 |
3,271,367 |
3,290,837 |
4,278,189 |
|
Net Assets |
1,083,979 |
1,075,249 |
1,054,579 |
1,034,966 |
1,032,081 |
|
Net Assets Backing |
1,087,328 |
1,065,847 |
1,035,169 |
1,029,043 |
1,028,799 |
|
Shareholders' Funds |
1,087,328 |
1,065,847 |
1,035,169 |
1,029,043 |
1,028,799 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
87,328 |
65,847 |
35,169 |
29,043 |
28,799 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.08 |
0.11 |
- |
- |
- |
|
Liquid Ratio |
1.44 |
1.48 |
- |
- |
- |
|
Current Ratio |
1.44 |
1.48 |
1.45 |
1.45 |
1.31 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
- |
- |
- |
|
Debtors Ratio |
221 |
345 |
- |
- |
- |
|
Creditors Ratio |
919 |
2,025 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.01 |
0.01 |
- |
- |
- |
|
Liabilities Ratio |
2.25 |
2.04 |
2.16 |
2.20 |
3.16 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Assets Backing Ratio |
1.08 |
1.08 |
1.05 |
1.03 |
1.03 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
2.83 |
7.99 |
1.34 |
0.06 |
0.05 |
|
Net Profit Margin |
1.78 |
4.67 |
1.02 |
0.00 |
<0.01> |
|
Return On Net Assets |
3.16 |
4.89 |
0.77 |
1.49 |
1.84 |
|
Return On Capital Employed |
3.14 |
4.84 |
0.77 |
1.49 |
1.84 |
|
Return On Shareholders' Funds/Equity |
1.98 |
2.88 |
0.59 |
0.02 |
<0.24> |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
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.