|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
824345-K
|
|
COMPANY NAME
|
:
|
NUTRA LIPIDS (M) SDN. BHD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
07/07/2008
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
49A, JALAN USJ 10/1F, TAIPAN TRIANGLE, UEP SUBANG JAYA, 47620 SUBANG
JAYA, SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
2A, JALAN USJ 4/6B, 47600 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-80233722
|
|
FAX.NO.
|
:
|
03-80238622
|
|
CONTACT PERSON
|
:
|
LIEW YOU CHEONG ( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46202
|
|
PRINCIPAL ACTIVITY
|
:
|
DEALING IN OIL AND FAT
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 800,000.00
DIVIDED INTO
ORDINARY SHARES 800,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 55,930,460 [2011]
|
|
NET WORTH
|
:
|
MYR 1,908,765 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MATURE
|
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) dealing in oil and
fat.
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. LIEW YOU CHEONG +
|
NO. 22, USJ 3/2B, 47600 SUBANG JAYA, SELANGOR, MALAYSIA.
|
770201-01-5147
|
320,000.00
|
40.00
|
|
MR. RAVINAN A/L PADMANABHAN +
|
33 USJ 11/1A, 47620 SUBANG JAYA, MALAYSIA.
|
630806-05-5577
|
240,000.00
|
30.00
|
|
MR. LIEW HUEY SHENG +
|
NO. P.319,, KELAPA SAWIT, 81030 KULAI, JOHOR, MALAYSIA.
|
780225-01-6557
|
240,000.00
|
30.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
800,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. RAVINAN A/L PADMANABHAN
|
|
Address
|
:
|
33 USJ 11/1A, 47620 SUBANG JAYA, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
630806-05-5577
|
|
Date of Birth
|
:
|
06/08/1963
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
07/07/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. LIEW HUEY SHENG
|
|
Address
|
:
|
NO. P.319,, KELAPA SAWIT, 81030 KULAI, JOHOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
780225-01-6557
|
|
Date of Birth
|
:
|
25/02/1978
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
12/06/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MR. LIEW YOU CHEONG
|
|
Address
|
:
|
NO. 22, USJ 3/2B, 47600 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
770201-01-5147
|
|
Date of Birth
|
:
|
01/02/1977
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
07/07/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
LIEW YOU CHEONG
|
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
LIEW HUEY SHENG
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
P.S.YAP & ASSOCIATES
|
|
Auditor' Address
|
:
|
NO. 89, JALAN 1/91, TAMAN SHAMELIN PERKASA, 56100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. POH KWEE LAN
|
|
|
|
|
|
|
|
New IC No
|
:
|
640616-05-5698
|
|
|
Address
|
:
|
27 JALAN PUTRA BAHAGIA 8/3G, PUTRA HEIGHTS, 47650 SUBANG JAYA,
SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MS. LIM MING SURE
|
|
|
|
|
|
|
|
New IC No
|
:
|
640604-01-6130
|
|
|
Address
|
:
|
69 JALAN USJ 11/4L, 47620 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
ENCUMBRANCE 1
|
Date of Creation
|
:
|
11/01/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 17/01/2012
|
|
Registered and Numbered 1 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of Creation
|
:
|
16/08/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
MYR540,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 14/09/2012
|
|
Registered and Numbered 2 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of Creation
|
:
|
16/08/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
MYR440,000.00
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 14/09/2012
|
|
Registered and Numbered 3 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of Creation
|
:
|
12/12/2012
|
|
Description Of Charge
|
:
|
N/A
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of Property Affected
|
:
|
N/A
|
|
Name & Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated 19/12/2012
|
|
Registered and Numbered 4 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 supplier.
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
OIL AND FAT
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2011
|
2010
|
2009
|
2008
|
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
|
COMPANY
|
3
|
3
|
3
|
3
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) dealing in oil and fat.
The SC refused to further disclose its business 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
|
:
|
03 80233722
|
|
Current Telephone Number
|
:
|
03-80233722
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
2A JALAN USJ 4/6B, SUBANG JAYA 47600 PETALING JAYA SELANGOR
|
|
Current Address
|
:
|
2A, JALAN USJ 4/6B, 47600 SUBANG JAYA, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted the
staff of SC from Shipping Department and she provide us some information on
SC.
The address provided is incorrect.
The SC refused to disclose its number of employees and banker.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Increased
|
[
|
2008 - 2011
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Increased
|
[
|
2008 - 2011
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Favourable
|
[
|
46.79%
|
]
|
|
|
Return on Net Assets
|
:
|
Favourable
|
[
|
37.76%
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. 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
|
[
|
1.10 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
|
[
|
4.10 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC has high liabilities ratio and it may face financial
difficulties if no additional capital is injected.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
Generally, the SC's performance has improved with higher turnover
and profit. 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 : FAIR
|
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
|
|
46202 : Wholesale of palm oil
|
|
|
|
|
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
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
Incorporated in 2008, the SC is a Private Limited company, focusing on dealing
in oil and fat. Having been in the industry for 5 years, the SC has started
to stabilise its business position in the market. Presently, issued and
paid up capital of the SC stand at MYR 800,00 which contributed by 3
individual shareholders, the SC may face difficulties in its attempt to
further expand its business in the future.
Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the SC to further
enhance its business in the near term. 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.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Based on the higher profitability,
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. 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 1,908,765, 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 has reached its optimum level and is generally stable. It is
saturated and very competitive. Thus, the SC's growth prospect is very much
depends on its capacity in sustaining its performance in the market.
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)
|
|
NUTRA LIPIDS
(M) SDN. BHD.
|
|
Financial Year End
|
31/12/2011
|
31/12/2010
|
31/12/2009
|
31/12/2008
|
|
Months
|
12
|
12
|
12
|
6
|
|
Consolidated Account
|
Company
|
Company
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
YES
|
YES
|
|
Financial Type
|
SUMMARY
|
SUMMARY
|
FULL
|
FULL
|
|
Currency
|
MYR
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
TURNOVER
|
55,930,460
|
17,412,811
|
2,542,000
|
426,279
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
55,930,460
|
17,412,811
|
2,542,000
|
426,279
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
1,130,996
|
681,923
|
<4,032>
|
<12,191>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
1,130,996
|
681,923
|
<4,032>
|
<12,191>
|
|
Taxation
|
<237,931>
|
<150,000>
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
893,065
|
531,923
|
<4,032>
|
<12,191>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
|
As previously reported
|
515,700
|
<16,223>
|
<12,191>
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
515,700
|
<16,223>
|
<12,191>
|
-
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
1,408,765
|
515,700
|
<16,223>
|
<12,191>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
1,408,765
|
515,700
|
<16,223>
|
<12,191>
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
BALANCE SHEET
|
NUTRA LIPIDS
(M) SDN. BHD.
|
|
ASSETS EMPLOYED:
|
|
|
|
|
|
FIXED ASSETS
|
2,292,840
|
681,518
|
70,392
|
-
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
2,292,840
|
681,518
|
70,392
|
-
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
Cash & bank balances
|
-
|
-
|
318,226
|
3,267
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT ASSETS
|
7,440,318
|
2,917,109
|
318,226
|
3,267
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
9,733,158
|
3,598,627
|
388,618
|
3,267
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
Trade creditors
|
-
|
-
|
84,547
|
-
|
|
Other creditors & accruals
|
-
|
-
|
210,294
|
5,455
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
6,738,263
|
2,812,927
|
294,841
|
5,455
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
702,055
|
104,182
|
23,385
|
<2,188>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
2,994,895
|
785,700
|
93,777
|
<2,188>
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
Ordinary share capital
|
500,000
|
200,000
|
100,000
|
3
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
500,000
|
200,000
|
100,000
|
3
|
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
Retained profit/(loss) carried forward
|
1,408,765
|
515,700
|
<16,223>
|
<12,191>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
1,408,765
|
515,700
|
<16,223>
|
<12,191>
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
1,908,765
|
715,700
|
83,777
|
<12,188>
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
|
|
Others
|
-
|
-
|
10,000
|
10,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
1,086,130
|
70,000
|
10,000
|
10,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
2,994,895
|
785,700
|
93,777
|
<2,188>
|
|
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
FINANCIAL RATIO
|
NUTRA LIPIDS
(M) SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
|
|
|
Cash
|
-
|
-
|
318,226
|
3,267
|
|
Net Liquid Funds
|
-
|
-
|
318,226
|
3,267
|
|
Net Liquid Assets
|
702,055
|
104,182
|
23,385
|
<2,188>
|
|
Net Current Assets/(Liabilities)
|
702,055
|
104,182
|
23,385
|
<2,188>
|
|
Net Tangible Assets
|
2,994,895
|
785,700
|
93,777
|
<2,188>
|
|
Net Monetary Assets
|
<384,075>
|
34,182
|
13,385
|
<12,188>
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
Total Borrowings
|
-
|
-
|
0
|
0
|
|
Total Liabilities
|
7,824,393
|
2,882,927
|
304,841
|
15,455
|
|
Total Assets
|
9,733,158
|
3,598,627
|
388,618
|
3,267
|
|
Net Assets
|
2,994,895
|
785,700
|
93,777
|
<2,188>
|
|
Net Assets Backing
|
1,908,765
|
715,700
|
83,777
|
<12,188>
|
|
Shareholders' Funds
|
1,908,765
|
715,700
|
83,777
|
<12,188>
|
|
Total Share Capital
|
500,000
|
200,000
|
100,000
|
3
|
|
Total Reserves
|
1,408,765
|
515,700
|
<16,223>
|
<12,191>
|
|
LIQUIDITY (Times)
|
|
|
|
|
|
Cash Ratio
|
-
|
-
|
1.08
|
0.60
|
|
Liquid Ratio
|
-
|
-
|
1.08
|
0.60
|
|
Current Ratio
|
1.10
|
1.04
|
1.08
|
0.60
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
|
|
|
Stock Ratio
|
-
|
-
|
0
|
0
|
|
Debtors Ratio
|
-
|
-
|
0
|
0
|
|
Creditors Ratio
|
-
|
-
|
12
|
0
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
Gearing Ratio
|
-
|
-
|
0.00
|
0.00
|
|
Liabilities Ratio
|
4.10
|
4.03
|
3.64
|
<1.27>
|
|
Times Interest Earned Ratio
|
-
|
-
|
0.00
|
0.00
|
|
Assets Backing Ratio
|
5.99
|
3.93
|
0.94
|
<729.33>
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
Operating Profit Margin
|
2.02
|
3.92
|
<0.16>
|
<2.86>
|
|
Net Profit Margin
|
1.60
|
3.05
|
<0.16>
|
<2.86>
|
|
Return On Net Assets
|
37.76
|
86.79
|
<4.30>
|
557.18
|
|
Return On Capital Employed
|
37.76
|
86.79
|
<4.30>
|
557.18
|
|
Return On Shareholders' Funds/Equity
|
46.79
|
74.32
|
<4.81>
|
100.02
|
|
Dividend Pay Out Ratio (Times)
|
-
|
-
|
0.00
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
|
|
|
Contingent Liabilities
|
|
-
|
0
|
0
|
|