MIRA INFORM REPORT

 

 

 

Report Date :

10.06.2013

 

IDENTIFICATION DETAILS

 

Name :

SINNON TRADING SDN. BHD.

 

 

Registered Office :

2-6-29 Harbour Trade Centre, No. 2 Gat Lebuh Macallum, 10300 Pulau Pinang, Pulau Pinang

 

 

Country :

Malaysia

 

 

Date of Incorporation :

20.01.2012

 

 

Com. Reg. No.:

976010-T

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MALAYSIA - ECONOMIC OVERVIEW

 

Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB''s Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country''s economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy''s dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with strained government finances, has forced Kuala Lumpur to begin to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 35% of government revenue in 2011. Bank Negera Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia''s exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB has raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but he has encountered significant opposition, especially from Malay nationalists and other vested interests.

Source : CIA

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

976010-T

COMPANY NAME

:

SINNON TRADING SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

20/01/2012

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

2-6-29 HARBOUR TRADE CENTRE, NO. 2 GAT LEBUH MACALLUM, 10300 PULAU PINANG, PULAU PINANG, MALAYSIA.

AUTHORISED CAPITAL

:

MYR 100,000.00 DIVIDED INTO
ORDINARY SHARE 100,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 2.00 DIVIDED INTO
ORDINARY SHARES 2 CASH OF MYR 1.00 EACH.

 

 

 

The major shareholder(s) of the SC are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. LIM MING HON +

29 LORONG CENDANA 17, TAMAN CENDANA, 14100 SEBERANG PERAI TENGAH, PULAU PINANG, MALAYSIA.

530123-07-5423

1.00

50.00

MR. TAN SENG LEONG +

70 JALAN BINTANG, 11200 TANJONG BUNGAH, PENANG., MALAYSIA.

520823-07-5353

1.00

50.00

 

 

 

---------------

------

 

 

 

2.00

100.00

 

 

 

============

=====

 

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MR. LIM MING HON

Address

:

29 LORONG CENDANA 17, TAMAN CENDANA, 14100 SEBERANG PERAI TENGAH, PULAU PINANG, MALAYSIA.

 

 

 

New IC No

:

530123-07-5423

Date of Birth

:

23/01/1953

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

20/01/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MR. TAN SENG LEONG

Address

:

70 JALAN BINTANG, 11200 TANJONG BUNGAH, PENANG., MALAYSIA.

 

 

 

New IC No

:

520823-07-5353

Date of Birth

:

23/08/1952

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

20/01/2012

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.74

UK Pound

1

Rs.88.53

Euro

1

Rs.75.20

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.