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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
AARHUSKARLSHAMN ASIA-PACIFIC SDN. BHD. |
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Formerly Known As : |
AARHUS UNITED ASIA-PACIFIC SDN BHD |
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Registered Office : |
Suite 1005,Tkt 10, Wisma Hamzah-Kwong Hing, 1 Lebuh Ampang, 50100
Kuala Lumpur, Wilayah Persekutuan |
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|
Country : |
Malaysia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.06.2000 |
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Com. Reg. No.: |
516423-P |
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Legal Form : |
Private Limited (Limited By Share) |
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Line of Business : |
Marketing & Sale Of Vegetable Oils & Specialty Fat |
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No. of Employees : |
15 [2013] |
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 |
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Payment Behaviour : |
Regular |
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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 |
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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 |
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*
Adopted abbreviations : |
SC - Subject Company (the company enquired by you) |
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N/A - Not Applicable |
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REGISTRATION NO. |
: |
516423-P |
|
COMPANY NAME |
: |
AARHUSKARLSHAMN
ASIA-PACIFIC SDN. BHD. |
|
FORMER NAME |
: |
AARHUS UNITED ASIA-PACIFIC SDN BHD
(11/11/2005) |
|
INCORPORATION DATE |
: |
09/06/2000 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
SUITE 1005,TKT 10, WISMA HAMZAH-KWONG HING,
1 LEBUH AMPANG, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 26.03/04, 26TH FLOOR, MENARA KH, JALAN
SULTAN ISMAIL, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-27108493 |
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FAX.NO. |
: |
03-27108496 |
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WEB SITE |
: |
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CONTACT PERSON |
: |
LIM HWEE HWA ( ACCOUNT MANAGER ) |
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INDUSTRY CODE |
: |
46329 |
|
PRINCIPAL ACTIVITY |
: |
MARKETING & SALE OF VEGETABLE OILS
& SPECIALTY FAT |
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
|
|
|
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SALES |
: |
MYR 325,765,000 [2011] |
|
NET WORTH |
: |
MYR 42,204,000 [2011] |
|
M1000 OVERALL RANKING |
: |
685[2008] |
|
M1000 INDUSTRY RANKING |
: |
46[2008] |
|
|
|
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STAFF STRENGTH |
: |
15 [2013] |
|
LITIGATION |
: |
CLEAR |
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DEFAULTER CHECK |
: |
CLEAR |
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FINANCIAL CONDITION |
: |
STRONG |
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PAYMENT |
: |
GOOD |
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MANAGEMENT CAPABILITY |
: |
AVERAGE |
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COMMERCIAL RISK |
: |
LOW |
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CURRENCY EXPOSURE |
: |
MODERATE |
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GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act,
1965 and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) marketing & sale
of vegetable oils & specialty fat.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the SC's ranking are as
follows: |
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YEAR |
2008 |
|
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OVERALL RANKING |
685 |
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INDUSTRY RANKING |
46 |
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|
The immediate holding company of the SC is AAK GROUP TREASURY A/S, a company
incorporated in DENMARK.
The ultimate holding company of the SC is AARHUSKARLSHAMN AB, a company
incorporated in SWEDEN.
The major
shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AAK GROUP TREASURY A/S |
MP BRUUNS GADE 27, DK-8000, AARCHUS C, DENMARK. |
XLZ00218652 |
500,000.00 |
100.00 |
|
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|
--------------- |
------ |
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|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in
other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
|
AUSTRALIA |
AARHUSKARLSHAMN AUTRALIA PTY LTD |
100.00 |
31/12/2010 |
|
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DIRECTOR 1
|
Name Of Subject |
: |
TORBEN FRIIS LANGE |
|
Address |
: |
NORDLIGE BJERGEVEJ 15, 8270 HOEJBJERG, DENMARK. |
|
IC / PP No |
: |
204791693 |
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Nationality |
: |
DANE |
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Date of Appointment |
: |
29/11/2010 |
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DIRECTOR 2
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Name Of Subject |
: |
MICHAEL SKRIVER |
|
Address |
: |
199 JALAN BEVERLY HEIGHTS 6, 68000 AMPANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
202263498 |
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Date of Appointment |
: |
14/08/2012 |
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DIRECTOR 3
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Name Of Subject |
: |
KNUD LARSSON |
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Address |
: |
RONNEVEJ 3A, DK-8240, RISSKOV, DENMARK. |
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IC / PP No |
: |
200365813 |
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Date of Appointment |
: |
15/04/2010 |
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DIRECTOR 4
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Name Of Subject |
: |
PETER JAMES BRAZEL |
|
Address |
: |
BB 16-02, MK 10, JALAN KIARA 1, MONT
KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
E4083987 |
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Date of Appointment |
: |
10/07/2012 |
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1) |
Name of Subject |
: |
LIM HWEE HWA |
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Position |
: |
ACCOUNT MANAGER |
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2) |
Name of Subject |
: |
MICHAEL SKRIVER |
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Position |
: |
DIRECTOR |
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Auditor |
: |
PRICEWATERHOUSECOOPERS |
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Auditor' Address |
: |
1 SENTRAL, JALAN TRAVERS, KUALA LUMPUR
CENTRAL, P O BOX 10192, LEVEL 10, 50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
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1) |
Company Secretary |
: |
MS. WON SWEE HWAN |
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New IC No |
: |
660207-10-6712 |
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Address |
: |
2, JALAN LANG PERUT PUTIH 9 (121), KEPONG
BARU, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
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2) |
Company Secretary |
: |
MR. JASNI BIN ABDUL JALIL |
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New IC No |
: |
630309-07-5323 |
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Address |
: |
47, JALAN SUNGAI CONGKAK 32/43, BUKIT
RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
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No Banker found in our databank.
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.
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SOURCES OF RAW MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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The SC has refused to provide information on its supplier.
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 |
||||||||||||||
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Prompt 0-30 Days |
[ |
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] |
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Good 31-60 Days |
[ |
X |
] |
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Average 61-90 Days |
[ |
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] |
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Fair 91-120 Days |
[ |
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] |
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Poor >120 Days |
[ |
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] |
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Local |
: |
YES |
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Domestic Markets |
: |
MALAYSIA |
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Overseas |
: |
YES |
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Export Market |
: |
ASIA |
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Credit Term |
: |
30 - 60 DAYS |
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Payment Mode |
: |
CHEQUES |
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Goods Traded |
: |
VEGETABLE OILS & SPECIALTY FAT
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Member(s) / Affiliate(s) |
: |
MALAYSIA FOOD & BEVERAGE INDUSTRY |
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Ownership of premises |
: |
LEASED/RENTED
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Total Number of Employees: |
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YEAR |
2013 |
2012 |
2011 |
2010 |
2009 |
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GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
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COMPANY |
15 |
15 |
15 |
17 |
15 |
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Branch |
: |
NO
|
Other
Information:
The SC is principally engaged in the (as a / as an) marketing & sale of
vegetable oils & specialty fat.
SC involved in marketing and sale of vegetable oil and specialty fat.
The SC refused to provide further information on its business operation.
No projects found in our databank
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
032710 849 |
|
Current Telephone Number |
: |
03-27108493 |
|
Match |
: |
NO |
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|
Address Provided by Client |
: |
LOT #26.03/04, 26TH FLOOR, MENARA LH JALAN
SULTAN ISMAIL 50250 KUALA LUMPUR |
|
Current Address |
: |
LOT 26.03/04, 26TH FLOOR, MENARA KH, JALAN
SULTAN ISMAIL, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
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Latest Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the SC and she provided us limited
information on the SC.
The address provided is incorrect.
The SC refused to disclose its banker.
|
Profitability |
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Turnover |
: |
Erratic |
[ |
2007 - 2011 |
] |
|
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Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.80% |
] |
|
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Return on Net Assets |
: |
Acceptable |
[ |
19.80% |
] |
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The fluctuating turnover reflects the
fierce competition among the existing and new market players.The SC's profit
fell sharply because of the high operating costs incurred. The SC's management
had generated acceptable return for its shareholders using its assets. |
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Liquidity |
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Current Ratio |
: |
Favourable |
[ |
3.81 Times |
] |
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The SC was in good liquidity position with
its current liabilities well covered by its current assets. With its net
current assets, the SC should be able to repay its short term obligations. |
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Solvency |
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Liability Ratio |
: |
Favourable |
[ |
0.35 Times |
] |
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A low liabilities ratio has minimised the
SC's financial risk. |
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Overall
Assessment : |
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The SC recorded lower profits as its
turnover showed a erratic trend. The SC's management was unable to control
its costs efficiently as its profit showed a downward trend. 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 has a low liabilities ratio. It's
liabilities were low and was not vulnerable to the financial risk. |
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Overall
financial condition of the SC : STRONG |
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Major Economic
Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
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|
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 |
- |
|
|
|
|
|
|
|
|
|
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 |
|
|
46329 : Wholesale of other foodstuffs |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
According to the Retail Group Malaysia (RGM), the wholesale and retail
trade sector forecast to grow to 6% in year 2013. During the first quarter of
year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers
have been enjoying better sales since the government handed out cash from
mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to
more than 12 million Malaysians. Bookstores and related retail stores have
also started enjoying rising sales since the RM250 1Malaysia Book Voucher was
distributed to 1.3 million private and public university students. Besides,
since early February 2013, handphone traders and retailers selling smartphone
accessories have started to benefit from the RM200 rebate on smartphones for
1.5 million young adults aged between 21 and 30 years with a monthly income
of not more than RM3,000. |
|
|
|
|
|
The wholesale and retail trade sector grew 6.1% in the first half of
the year 2012 driven by strong domestic consumption and the increasing number
of large format stores operating in Malaysia, including 180 foreign
hypermarkets, superstores and departmental stores as at end of August 2012.
In addition, other indicators such as imports of consumption goods were
higher by 15.2%. |
|
|
|
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven
by higher consumption which benefited from Government initiatives under the
2012 Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100
assistance for all primary and secondary school students. The performance of
the sector will also be supported by ongoing efforts to modernise the retail
segment under the ETP. In 2012, 500 retail shops and 50 workshops are
targeted to be modernised under the Retail Shop Transformation (TUKAR) and
Automotive Workshop Modernisation (ATOM) programmes, respectively. As at end
of July 2012, 95 workshops have been modernised, surpassing the yearly
target, while 393 retail shops have been modernised. |
|
|
|
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy. Major
initiatives include increasing the number of large format stores such as
hypermarkets, superstores and departmental stores are carried out to boost
the economy. |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption, therefore the wholesale and retail sector plays a crucial role
in driving Malaysia's growth over the next decade despite the ongoing global economic
slowdown. By 2020, Malaysia's wholesale and retail sector is expected to
boost the country's total Gross National Income (GNI) by RM156 billion,
creating 454,190 new jobs. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in
2000, the SC is a Private Limited company, focusing on marketing & sale
of vegetable oils & specialty fat. Having been in the industry for over a
decade, the SC has achieved a certain market share and has built up a
satisfactory reputation in the market. It should have received supports from
its regular customers. Strongly supported by its well-established holding
company from Denmark, the SC is expected to enjoy timely financial and
technical support should the needs arise. |
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
AARHUSKARLSHAMN
ASIA-PACIFIC 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 |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
325,765,000 |
182,570,000 |
185,072,000 |
220,895,000 |
269,732,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
325,765,000 |
182,570,000 |
185,072,000 |
220,895,000 |
269,732,000 |
|
Costs of Goods Sold |
- |
<167,203,000> |
<167,438,000> |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
- |
15,367,000 |
17,634,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
8,378,000 |
12,886,000 |
12,590,000 |
8,043,000 |
8,187,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
8,378,000 |
12,886,000 |
12,590,000 |
8,043,000 |
8,187,000 |
|
Taxation |
<2,130,000> |
<2,243,000> |
<3,255,000> |
<2,183,000> |
<2,558,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
6,248,000 |
10,643,000 |
9,335,000 |
5,860,000 |
5,629,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
34,720,000 |
34,077,000 |
24,742,000 |
18,882,000 |
13,253,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
34,720,000 |
34,077,000 |
24,742,000 |
18,882,000 |
13,253,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
40,968,000 |
44,720,000 |
34,077,000 |
24,742,000 |
18,882,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
<10,000,000> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
40,968,000 |
34,720,000 |
34,077,000 |
24,742,000 |
18,882,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
AARHUSKARLSHAMN
ASIA-PACIFIC SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
630,000 |
522,000 |
694,000 |
607,000 |
787,000 |
|
|
|
|
|
|
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Investments |
- |
- |
- |
- |
10,000 |
|
Deferred assets |
- |
551,000 |
206,000 |
202,000 |
669,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
551,000 |
206,000 |
202,000 |
679,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
630,000 |
1,073,000 |
900,000 |
809,000 |
1,466,000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
- |
4,355,000 |
2,953,000 |
1,144,000 |
1,461,000 |
|
Trade debtors |
- |
19,202,000 |
13,355,000 |
26,913,000 |
28,275,000 |
|
Other debtors, deposits & prepayments |
- |
210,000 |
247,000 |
246,000 |
406,000 |
|
Short term deposits |
- |
- |
10,000,000 |
- |
- |
|
Amount due from related companies |
- |
255,000 |
313,000 |
1,912,000 |
- |
|
Amount due from director |
- |
68,000 |
- |
- |
- |
|
Cash & bank balances |
- |
24,574,000 |
16,643,000 |
9,715,000 |
6,565,000 |
|
Others |
- |
- |
626,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
56,499,000 |
48,664,000 |
44,137,000 |
39,930,000 |
36,707,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
57,129,000 |
49,737,000 |
45,037,000 |
40,739,000 |
38,173,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
9,828,000 |
3,395,000 |
9,804,000 |
14,788,000 |
|
Other creditors & accruals |
- |
1,675,000 |
1,765,000 |
1,892,000 |
1,059,000 |
|
Deposits from customers |
- |
1,131,000 |
1,992,000 |
- |
- |
|
Other liabilities & accruals |
- |
1,015,000 |
1,655,000 |
- |
- |
|
Amounts owing to holding company |
- |
<376,000> |
410,000 |
3,220,000 |
- |
|
Amounts owing to related companies |
- |
- |
37,000 |
12,000 |
1,523,000 |
|
Provision for taxation |
- |
- |
- |
336,000 |
912,000 |
|
Other liabilities |
- |
622,000 |
186,000 |
411,000 |
212,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
14,826,000 |
13,895,000 |
9,440,000 |
15,675,000 |
18,494,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
41,673,000 |
34,769,000 |
34,697,000 |
24,255,000 |
18,213,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
42,303,000 |
35,842,000 |
35,597,000 |
25,064,000 |
19,679,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Exchange equalisation/fluctuation reserve |
736,000 |
514,000 |
483,000 |
<286,000> |
297,000 |
|
Retained profit/(loss) carried forward |
40,968,000 |
34,720,000 |
34,077,000 |
24,742,000 |
18,882,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
41,704,000 |
35,234,000 |
34,560,000 |
24,456,000 |
19,179,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
42,204,000 |
35,734,000 |
35,060,000 |
24,956,000 |
19,679,000 |
|
|
|
|
|
|
|
|
LONG TERM
LIABILITIES |
|
|
|
|
|
|
Deferred taxation |
- |
- |
440,000 |
108,000 |
- |
|
Others |
- |
108,000 |
97,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
99,000 |
108,000 |
537,000 |
108,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
42,303,000 |
35,842,000 |
35,597,000 |
25,064,000 |
19,679,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
AARHUSKARLSHAMN
ASIA-PACIFIC SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
- |
24,574,000 |
26,643,000 |
9,715,000 |
6,565,000 |
|
Net Liquid Funds |
- |
24,574,000 |
26,643,000 |
9,715,000 |
6,565,000 |
|
Net Liquid Assets |
41,673,000 |
30,414,000 |
31,744,000 |
23,111,000 |
16,752,000 |
|
Net Current Assets/(Liabilities) |
41,673,000 |
34,769,000 |
34,697,000 |
24,255,000 |
18,213,000 |
|
Net Tangible Assets |
42,303,000 |
35,842,000 |
35,597,000 |
25,064,000 |
19,679,000 |
|
Net Monetary Assets |
41,574,000 |
30,306,000 |
31,207,000 |
23,003,000 |
16,752,000 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
|
Total Borrowings |
- |
0 |
0 |
0 |
0 |
|
Total Liabilities |
14,925,000 |
14,003,000 |
9,977,000 |
15,783,000 |
18,494,000 |
|
Total Assets |
57,129,000 |
49,737,000 |
45,037,000 |
40,739,000 |
38,173,000 |
|
Net Assets |
42,303,000 |
35,842,000 |
35,597,000 |
25,064,000 |
19,679,000 |
|
Net Assets Backing |
42,204,000 |
35,734,000 |
35,060,000 |
24,956,000 |
19,679,000 |
|
Shareholders' Funds |
42,204,000 |
35,734,000 |
35,060,000 |
24,956,000 |
19,679,000 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
41,704,000 |
35,234,000 |
34,560,000 |
24,456,000 |
19,179,000 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
|
Cash Ratio |
- |
1.77 |
2.82 |
0.62 |
0.35 |
|
Liquid Ratio |
- |
3.19 |
4.36 |
2.47 |
1.91 |
|
Current Ratio |
3.81 |
3.50 |
4.68 |
2.55 |
1.98 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
- |
9 |
6 |
2 |
2 |
|
Debtors Ratio |
- |
38 |
26 |
44 |
38 |
|
Creditors Ratio |
- |
21 |
7 |
16 |
20 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
|
Gearing Ratio |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.35 |
0.39 |
0.28 |
0.63 |
0.94 |
|
Times Interest Earned Ratio |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
84.61 |
71.68 |
71.19 |
50.13 |
39.36 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
2.57 |
7.06 |
6.80 |
3.64 |
3.04 |
|
Net Profit Margin |
1.92 |
5.83 |
5.04 |
2.65 |
2.09 |
|
Return On Net Assets |
19.80 |
35.95 |
35.37 |
32.09 |
41.60 |
|
Return On Capital Employed |
19.80 |
35.95 |
35.37 |
32.09 |
41.60 |
|
Return On Shareholders' Funds/Equity |
14.80 |
29.78 |
26.63 |
23.48 |
28.60 |
|
Dividend Pay Out Ratio (Times) |
- |
0.94 |
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.56.64 |
|
UK Pound |
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.