|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
895955-A
|
|
COMPANY NAME
|
:
|
BAERLOCHER (M) TRADING AND SERVICES SDN. BHD.
|
|
FORMER NAME
|
:
|
EMERGING VALUE SDN. BHD. (28/07/2010)
|
|
INCORPORATION DATE
|
:
|
29/03/2010
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
LEVEL 8, SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU
1A/46, 47301 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
LOT 635 & 660, TUANKU JAAFAR INDUSTRIAL PARK, SUNGAI GADUT,
71450 SEREMBAN, NEGERI SEMBILAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
06-6780240
|
|
FAX.NO.
|
:
|
06-6780239
|
|
CONTACT PERSON
|
:
|
MALPASO CHENG KEUNG YING ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
521 201
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF PVC STABILIZER, POLYMER ADDITIVES & INTERNATIONAL
PROCUREMENT CENTRE
|
|
AUTHORISED
CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARES 500,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 137,798,248 [2011]
|
|
NET WORTH
|
:
|
MYR 7,637,299 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
15 [2013]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
STABLE
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
N/A
|
|
CURRENCY EXPOSURE
|
:
|
N/A
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
The SC is a private limited company and is allowed to have a minimum
of one and a maximum of forty-nine shareholders. As a private limited
company, the SC must have at least two directors. A private limited company
is a separate legal entity from its shareholders. As a separate legal entity,
the SC is capable of owning assets, entering into contracts, sue or be sued
by other companies. The liabilities of the shareholders are to the extent of
the equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the SC is insolvent. The SC is governed by the
Companies Act, 1965 and the company must file its annual returns, together
with its financial statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) trading of pvc
stabilizer, polymer additives & international procurement centre.
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
|
(%)
|
|
BAERLOCHER (M) SDN. BHD.
|
LEVEL 8, SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU
1A/46, 47301 PETALING JAYA, SELANGOR, MALAYSIA.
|
243364
|
500,000.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
500,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. S. PALANIAPPAN A/L PR VR SETHU CHETTIAR
|
|
Address
|
:
|
93, JALAN S2D6, CITY HOMES, SEREMBAN 2, 70300 SEREMBAN, NEGERI
SEMBILAN, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
641224-71-5305
|
|
Date of Birth
|
:
|
24/12/1964
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
18/06/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
CHENG MALPASO KEUNG YING
|
|
Address
|
:
|
UNIT NO. B-9-1, MONT KIARA, ASTANA TIARA TOWER, JALAN KIARA 2, MONT
KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
IC / PP No
|
:
|
E4074744
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
18/06/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
ANEAS HOLZNER
|
|
Address
|
:
|
GROSSHOLZHAUSEN, KIRNSTEINER WEG 8, 83064 RAUBLING, GERMANY.
|
|
IC / PP No
|
:
|
834011700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
18/06/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
ARNE SCHULLE
|
|
Address
|
:
|
AMSELWEG 9, 85716 UNTERSCHLEISSHEIM, GERMANY.
|
|
IC / PP No
|
:
|
828435152
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
18/06/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
MALPASO CHENG KEUNG YING
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
AUDITOR
|
Auditor
|
:
|
DELOITTE & TOUCHE
|
|
Auditor' Address
|
:
|
L19,UPTOWN 1, 1JLN.SS21/58, DAMANSARA;47400 P.JAYA., SELANGOR,
MALAYSIA.
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. CATHERINE MAH SUIK CHING
|
|
|
IC / PP No
|
:
|
5588928
|
|
|
New IC No
|
:
|
600421-10-6364
|
|
|
Address
|
:
|
19, JALAN BK3/8D, BANDAR KINRARA, PUCHONG, 58200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. TIA HWEI PING
|
|
|
|
|
|
|
|
New IC No
|
:
|
820813-10-5728
|
|
|
Address
|
:
|
118 JALAN SENTOSA 63, KAWASAN 19, 41050 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
|
|
|
|
|
The SC enjoys normal banking routine with above mentioned banker(s).
No adverse record was found during our investigation.
|
ENCUMBRANCE (S)
ENCUMBRANCE 1
|
Date of Creation
|
:
|
07/05/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 11/05/2012
|
|
Registered and Numbered 1 In The Register of Charges
|
LEGAL CHECK AGAINST SC
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SC
* We have checked through the SC in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
CLIENTELE
|
Local
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The SC refused to disclose its clientele information.
OPERATIONS
|
Goods Traded
|
:
|
PVC STABILIZER, POLYMER ADDITIVES
|
|
|
|
|
|
Services
|
:
|
INTERNATIONAL PROCUREMENT CENTRE
|
|
|
|
|
|
Competitor(s)
|
:
|
MOHAMED MEERA
SAHIB (M) SDN BHD
PLAZA ARISUN (SPG. RENGGAM) SDN BHD
ROTOL FOOD-CHAIN (M) SDN BHD
SUN FOODS INDUSTRY SDN BHD
TOWER CREST SDN BHD
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2013
|
2012
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
15
|
15
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of pvc
stabilizer, polymer additives & international procurement centre.
The SC refused to disclose any information on its operation.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
N/A
|
|
Current Telephone Number
|
:
|
06-6780240
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
F21, JALAN FZ8-P3 PORT KLANG FREE ZONE/KS12,42920 PULAU INDAH
SELANGOR, MALAYSIA
|
|
Current Address
|
:
|
LOT 635 & 660, TUANKU JAAFAR INDUSTRIAL PARK, SUNGAI GADUT,
71450 SEREMBAN, NEGERI SEMBILAN, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one of the staff from the SC and she provided limited
information on the SC.
The address provided belongs to the SC's warehouse.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Increased
|
[
|
<0.00%>
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
<73,689.49%>
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Favourable
|
[
|
93.58%
|
]
|
|
|
Return on Net Assets
|
:
|
Favourable
|
[
|
93.58%
|
]
|
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market
condition.The management had succeeded in turning the SC into a profit
making company. The profit could be due to better control of its operating
costs and efficiency in utilising its resources. Generally the SC was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the SC's management was efficient in utilising the
assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Current Ratio
|
:
|
Acceptable
|
[
|
1.43 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC has an adequate 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.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Liability Ratio
|
:
|
Unfavourable
|
[
|
2.35 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC has high liabilities ratio and it may face financial
difficulties if no additional capital is injected.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The higher turnover had helped to reduce the SC's losses. 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's liabilities level was
high and its going concern will be in doubt if there is no injection of
additional shareholders' funds in times of economic downturn and / or high
interest rates.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : STABLE
|
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
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
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
MSIC CODE
|
|
521 : Warehousing and storage
|
|
201 : Manufacture of basic chemicals, fertilizer and nitrogen
compounds, plastic and synthetic rubber in primary forms
|
|
|
|
|
INDUSTRY :
|
TRANSPORTATION
|
|
|
|
|
|
|
The Malaysian transportation industry is forecast to grow at a
compound annual growth rate of 11.6% to reach RM203.71 billion in 2016.
|
|
|
|
In 2013, the transportation industry is expected to have a growth of
6.7% due to the implementation of Government Transformation Programme and
the Economic Transformation Programme (ETP). According to Budget 2013,
RM9.4 billion is allocated for the transportation sector, including RM4.2
billion for improving access and connectivity in urban public transport.
Substantial provision is also made for the construction, maintenance and
upgrading of roads and bridges, railways, airports, ports and jetties as
well as rural infrastructure major ongoing transport projects include the
East Coast Highway (LPT) Phase II from Jabor to Kuala Terengganu and the
Central Spine Federal Road (Package 3). New projects slated for the year
include upgrading of roadworks between Donggongan to Simpang Jalan Papar
Spur (Package 1) (Sabah), Pekan-Nenasi-Endau (Pahang); and Batu Maung to
Pulau Pinang Second Bridge (Bayan Lepas Expressway) as well as upgrading of
rail infrastructure in Lembah Klang (Phase 1). Construction of the West
Coast Highway from Taiping to Banting is also expected to commence in 2013.
|
|
|
|
During the first half of 2012, the transport and storage sector grew
5.9% due to sustained passenger travel and moderate trade activities.
Growth was also supported by initiatives to modernise the transport
infrastructure, particularly ports, airports and public transport. In 2012,
the sector had increased to 5.2% as domestic economic activities remain
resilient amid a moderate trade expansion. In addition, Malaysia ranked
seventh in the Liner Shipping Connectivity Index (LSCI) by the United
Nations Conference on Trade and Development (UNCTAD), underscoring the
growing importance of Malaysia as a regional logistics hub. The changing
dynamics of the global shipping environment have, however, affected the
domestic maritime industry. The introduction of ultra-large ships with a
higher carrying capacity has lowered the charter rates due to economies of
scale. This has prompted domestic ports to purchase new cranes andbuild new
wharfs to cater for the berth of ultra-large ships in efforts to remain
competitive.
|
|
|
|
The performance of the land transport segment is expected to remain
steady supported by initiatives to upgrade roads and public transport
infrastructure to ensure a seamless movement of goods and services. During
the first six months of 2012, the number of vehicles on tolled highways
increased 4.5% to 761.4 million. In urban public transport, total ridership
on RapidKL and RapidPenang bus services rose 3.8% to 67.5 million
passengers during the first six months of 2012.
|
|
|
|
The air transport market plays an active role in Malaysia's economic
development by supporting the country's trade and tourism. The Malaysia's
car rental market developing into one of the most mature kind in the
Asia-Pacific region. Malaysia's rail network only covers 1,849km and
transports 4-4.5 million passengers per year. As such, the rail
transportmarket accounts for a small share on the total passanger
transportation industry. Malaysia also emerging as an important cruise
destination in the Asia-Pacific regoin. During the first half of 2012,
growth in the air transport segment was moderate despite sustained demand
for passenger travel. Total passenger traffic in airports nationwide expanded
4.1% to 33.2 million partly attributed to increased connectivity following
the entry of new airlines to Malaysia such as Mandala Airlines and Bangkok
Airways.
|
|
|
|
A world-class public transport system is imperative as the nation
moves towards a high-income and developed economy. The Sungai Buloh-Kajang
Line MY Rapid Transit (SBK-MRT) service, which is expected to be
operational by 2017, will transform the urban public transport
infrastructure in the Klang Valley. Similarly, there is a need to improve
the public transport system in major cities outside Klang Valley to
facilitate a seamless and efficient movement of people, goods and services.
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 2010, the SC is a Private Limited company, focusing on
trading of PVC stabilizer, polymer additives & international
procurement centre. The SC has been in business for 3 years and it has
slowly been building up contact with its clients while competing in the industry.
Having strong support from its shareholder has enabled the SC to remain
competitive despite the challenging business environment. The SC is
considered as a medium size company with issued and paid up capital
standing at MYR 500,000.
To date, the SC's business operation is supported by 15 employees. Overall,
we regard that the SC's management capability is average. This indicates
that the SC has greater potential to improve its business performance and
raising income for the SC.
As at year ended 2011, the SC has recorded a total turnover of MYR
137,798,248 and pre-tax profit of MYR 7,147,011. The SC has generated a
favourable return based on its existing shareholders' funds which indicated
that the management was efficient in utilising its funds to generate
income. The SC managed to maintain an adequate liquidity level, indicating
that the SC has the ability to meet its financial obligations. However, the
SC has high liabilities ratio and it may face financial difficulties if no
additional capital is injected. Given a positive net worth standing at MYR
7,637,299, the SC should be able to maintain its business in the near
terms.
Having a strong assets backing, the SC possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
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
normally.
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
BAERLOCHER (M)
TRADING AND SERVICES SDN. BHD.
|
|
Financial Year End
|
31/12/2011
|
31/12/2010
|
|
Months
|
12
|
12
|
|
Consolidated Account
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
|
Financial Type
|
SUMMARY
|
SUMMARY
|
|
Currency
|
MYR
|
MYR
|
|
|
|
|
|
TURNOVER
|
137,798,248
|
-
|
|
|
----------------
|
----------------
|
|
Total Turnover
|
137,798,248
|
-
|
|
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
7,147,011
|
<9,712>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
7,147,011
|
<9,712>
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
7,147,011
|
<9,712>
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously reported
|
<9,712>
|
-
|
|
|
----------------
|
----------------
|
|
As restated
|
<9,712>
|
-
|
|
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
7,137,299
|
<9,712>
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
7,137,299
|
<9,712>
|
|
|
=============
|
=============
|
|
|
|
|
BALANCE SHEET
|
BAERLOCHER (M)
TRADING AND SERVICES SDN. BHD.
|
|
CURRENT ASSETS
|
|
|
|
TOTAL CURRENT ASSETS
|
25,588,316
|
499,865
|
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
25,588,316
|
499,865
|
|
|
=============
|
=============
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
TOTAL CURRENT LIABILITIES
|
17,951,017
|
9,577
|
|
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
7,637,299
|
490,288
|
|
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
7,637,299
|
490,288
|
|
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share capital
|
500,000
|
500,000
|
|
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
500,000
|
500,000
|
|
|
|
|
|
RESERVES
|
|
|
|
Retained profit/(loss) carried forward
|
7,137,299
|
<9,712>
|
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
7,137,299
|
<9,712>
|
|
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
7,637,299
|
490,288
|
|
|
|
|
|
|
----------------
|
----------------
|
|
|
7,637,299
|
490,288
|
|
|
=============
|
=============
|
|
|
|
|
FINANCIAL RATIO
|
BAERLOCHER (M)
TRADING AND SERVICES SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
|
Net Liquid Assets
|
7,637,299
|
490,288
|
|
Net Current Assets/(Liabilities)
|
7,637,299
|
490,288
|
|
Net Tangible Assets
|
7,637,299
|
490,288
|
|
Net Monetary Assets
|
7,637,299
|
490,288
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
Total Liabilities
|
17,951,017
|
9,577
|
|
Total Assets
|
25,588,316
|
499,865
|
|
Net Assets
|
7,637,299
|
490,288
|
|
Net Assets Backing
|
7,637,299
|
490,288
|
|
Shareholders' Funds
|
7,637,299
|
490,288
|
|
Total Share Capital
|
500,000
|
500,000
|
|
Total Reserves
|
7,137,299
|
<9,712>
|
|
|
|
|
|
LIQUIDITY (Times)
|
|
|
|
Current Ratio
|
1.43
|
52.19
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
Liabilities Ratio
|
2.35
|
0.02
|
|
Assets Backing Ratio
|
15.27
|
0.98
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
Operating Profit Margin
|
5.19
|
-
|
|
Net Profit Margin
|
5.19
|
-
|
|
Return On Net Assets
|
93.58
|
<1.98>
|
|
Return On Capital Employed
|
93.58
|
<1.98>
|
|
Return On Shareholders' Funds/Equity
|
93.58
|
<1.98>
|
|
|
|
|
|