|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FELDA IFFCO SDN. BHD. |
|
|
|
|
Registered Office : |
Level 42, Menara Felda, Platinum Park, 11, Persiaran Klcc, 50088 Kuala
Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
13.12.2006 |
|
|
|
|
Com. Reg. No.: |
756204-H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject principally engaged in the (as a / as an) palm oil based
products and palm kernel based products and investment holding. |
|
|
|
|
No. of Employees : |
320 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Malaysia |
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 |
|
REGISTRATION NO. |
: |
756204-H |
|
COMPANY NAME |
: |
FELDA IFFCO SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
13/12/2006 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
LEVEL 42, MENARA FELDA, PLATINUM PARK, 11, PERSIARAN KLCC, 50088 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 596, LEBUH RAJA LUMU, PANDAMARAN INDUSTRIAL ESTATE, 42009
PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-31687601 |
|
FAX.NO. |
: |
03-31671980 |
|
WEB SITE |
: |
WWW.FELDAIFFCO.COM |
|
CONTACT PERSON |
: |
RAS MANIKKAM ( REGIONAL MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
10402 64200 |
|
PRINCIPAL ACTIVITY |
: |
PALM OIL BASED PRODUCTS AND PALM KERNEL BASED PRODUCTS AND INVESTMENT
HOLDING |
|
AUTHORISED CAPITAL |
: |
MYR 500,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 395,287,500.00 DIVIDED INTO |
|
SALES |
: |
MYR 3,304,784,415 [2010] |
|
NET WORTH |
: |
MYR 327,402,678 [2010] |
|
M1000 OVERALL RANKING |
: |
340[2011] |
|
M1000 INDUSTRY RANKING |
: |
14[2011] |
|
STAFF STRENGTH |
: |
320 [2013] |
|
BANKER (S) |
|
RHB ISLAMIC BANK BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act,
1965 and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) palm oil based
products and palm kernel based products and investment holding.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the SC's ranking are as
follows: |
|||
|
|
|
|
|
|
YEAR |
2011 |
|
|
|
OVERALL RANKING |
340 |
|
|
|
INDUSTRY RANKING |
14 |
|
|
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FELDA GLOBAL VENTURES HOLDINGS BERHAD |
BALAI FELDA, JALAN GURNEY SATU, LEVEL 3 , 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
800165 |
158,660,000.00 |
40.14 |
|
IFFCO OIL HOLDINGS LIMITED |
4TH FLOOR, LES CASCADES, ST. PORT LOUIS, MAURITIUS, MAURITIUS. |
XLZ00210271 |
111,987,302.00 |
28.33 |
|
MIDDLE EAST OILS AND GRAINS FREE ZONE COMPANY |
PLOT 1A-01, HAMRIYAH FREE ZONE, PO BOX 51835 SHARJAH, UNITED ARAB
EMIRATES. |
XLZ00218749 |
85,656,448.00 |
21.67 |
|
FELDA GLOBAL VENTURES DOWNSTREAM SDN. BHD. |
LEVEL 3, BALAI FELDA, JALAN GURNEY 1, 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
974151 |
38,983,750.00 |
9.86 |
|
|
|
|
--------------- |
------ |
|
|
|
|
395,287,500.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
852497 |
MALAYSIA |
IFFCO POULTRY CO. SDN. BHD. |
100.00 |
29/03/2013 |
|
920555 |
MALAYSIA |
FELDA IFFCO TRADING SDN. BHD. |
100.00 |
29/03/2013 |
|
24499 |
MALAYSIA |
FELDA IFFCO OIL PRODUCTS SDN. BHD. |
74.90 |
29/03/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
MUHAMED CATIC |
|
Address |
: |
MEADOW 5, STREET 2, VILLA 51, DUBAI, UNITED ARAB EMIRATES. |
|
IC / PP No |
: |
214782389 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
04/05/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SYED RIZWAN AHMED |
|
Address |
: |
VILLA NO.1, PLOT NO.14, AL FISHT AREA, SHARQ STREET, SHARJAH, UNITED
ARAB EMIRATES. |
|
IC / PP No |
: |
BD1158061 |
|
Nationality |
: |
PAKISTANI |
|
Date of Appointment |
: |
08/01/2007 |
DIRECTOR 3
|
Name Of Subject |
: |
SHIRAZ ABDUL RAZAK ALLANA |
|
Address |
: |
ALLANA HOUSE, ALLANA ROAD COLABA, MUMBAI-400 001 M S, INDIA. |
|
IC / PP No |
: |
Z1880102 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
12/01/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. J. RASAMY A/L MANIKKAM |
|
Address |
: |
77 KAMPUNG SERDANG, 32000 SITIAWAN, PERAK, MALAYSIA. |
|
New IC No |
: |
570616-08-5271 |
|
Date of Birth |
: |
16/06/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/01/2010 |
DIRECTOR 5
|
Name Of Subject |
: |
KETAN MOTILAL DOSHI |
|
Address |
: |
FLAT NO. 1802, AL SHAHD TOWER, QANAT AL QASBA SHARJAH, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
Z1919268 |
|
Nationality |
: |
EMIRATI |
|
Date of Appointment |
: |
20/04/2010 |
DIRECTOR 6
|
Name Of Subject |
: |
ARUN AGARWALA |
|
Address |
: |
APT 301, BHUKATIR TOWER, BUHAIRAH CORNICHE SHARJAH, UNITED ARAB
EMIRATES. |
|
IC / PP No |
: |
Z1805968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
04/05/2011 |
DIRECTOR 7
|
Name Of Subject |
: |
DATO' AZLIN BIN ALIAS |
|
Address |
: |
LOT 256, PERSIARAN IMPIAN GEMILANG, SAUJANA IMPIAN, 43000 KAJANG,
SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
671012-10-5297 |
|
Date of Birth |
: |
12/10/1967 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/11/2010 |
DIRECTOR 8
|
Name Of Subject |
: |
MR. EHSAN BIN BAHAUDDIN |
|
Address |
: |
NO. 71, JALAN MAMANDA, 12, TAMAN DATO AHMAD RAZALI, 68000 AMPANG,
SELANGOR, MALAYSIA. |
|
New IC No |
: |
551124-10-5877 |
|
Date of Birth |
: |
24/11/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/01/2007 |
DIRECTOR 9
|
Name Of Subject |
: |
TIRUMANGALAM KUPPUSWAMY GOWRISHANKAR |
|
Address |
: |
NO.16 IV STREET, GOPALAPURAM, CHENNAI, INDIA. |
|
IC / PP No |
: |
Z090155 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
08/01/2007 |
DIRECTOR 10
|
Name Of Subject |
: |
MR. RAMLI BIN PUTIH |
|
Address |
: |
NO.35 JALAN DAHLIA 1, NILAI IMPIAN, 71800 NILAI, NEGERI SEMBILAN,
MALAYSIA. |
|
New IC No |
: |
530916-02-5231 |
|
Date of Birth |
: |
16/09/1953 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/12/2006 |
DIRECTOR 11
|
Name Of Subject |
: |
DATO' SABRI BIN AHMAD |
|
Address |
: |
108, JALAN ATHINAHAPAN DUA, TAMAN TUN DR. ISMAIL, 60000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
470520-08-5519 |
|
Date of Birth |
: |
20/05/1947 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/01/2010 |
DIRECTOR 12
|
Name Of Subject |
: |
MR. DZULKIFLI BIN ABD WAHAB |
|
Address |
: |
NO. 8, JALAN AU 5C/2, LEMBAH KERAMAT, HULU KELANG, 54200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
550428-05-5333 |
|
Date of Birth |
: |
28/04/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/01/2010 |
|
1) |
Name of Subject |
: |
RAS MANIKKAM |
|
|
Position |
: |
REGIONAL MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
KEVIN WONG TACK WEE |
|
|
Position |
: |
REGIONAL FINANCE MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
MICHAEL TAN |
|
|
Position |
: |
MARKETING MANAGER |
|
|
|
|
|
|
4) |
Name of Subject |
: |
ABDUL JALIL GHAZALI |
|
|
Position |
: |
HEAD OF HUMAN RESOURCE |
|
|
|
|
|
|
5) |
Name of Subject |
: |
HASHIM BIN ALI |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
6) |
Name of Subject |
: |
YAP SOON LEONG |
|
|
Position |
: |
CHIEF OPERATING OFFICER |
|
|
|
|
|
|
7) |
Name of Subject |
: |
PADMA |
|
|
Position |
: |
PERSONAL ASSISTANT |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
1 SENTRAL, JALAN TRAVERS, KUALA LUMPUR CENTRAL, P O BOX 10192, LEVEL
15, 50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. ABDUL AZIZ @ MAZATUL AISHAH BINTI AZIZ |
|
|
|
|
|
|
|
New IC No |
: |
701207-05-5108 |
|
|
Address |
: |
NO.14,LORONG AU3/12C, TAMAN KERAMAT, 53200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. NORZAIMAH BINTI MAAROF |
|
|
New IC No |
: |
691230-05-5388 |
|
|
Address |
: |
A16A03A, ARMANEE TERRACE CONDOMINIUM, DAMANSARA PERDANA, 47820
PETALING JAYA, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
RHB ISLAMIC BANK BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
03/12/2009 |
CHARGE |
RHB ISLAMIC BANK BERHAD |
MYR 230,000,000.00 |
Unsatisfied |
* A check has been conducted in our databank againt the SC whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound up
companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the SC in our defaulters' database which comprised of
debtors that have been blacklisted by our customers and debtors that have been
placed or assigned to us for collection since 1990. Information was provided by
third party where the debt amount can be disputed. Please check with creditors
for confirmation as alleged debts may have been paid since recorded or are
being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
UNITED STATES |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Services |
: |
INVESTMENT HOLDING
|
|
|
|
|
|
|
|
Ownership of premises |
: |
OWNED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2012 |
2011 |
2010 |
2009 |
|
|
|
|
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
320 |
320 |
318 |
345 |
200 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) palm oil based products and
palm kernel based products and investment holding.
The SC is a leading palm oil producer in Malaysia, having total refining
capacity of more than 1. 5 billion tonnes per annum.
It is engaged in the refining, processing and marketing of palm and palm kernel
oil based products for retail and industrial use. It has integrated facilities
for refining, fractionating, hardening including inter-esterification to
produce a complete range of cooking oil, ghee, shortenings, margarines,
specialty oils and fats.
The SC operates four refineries and two palm oil products manufacturing plants.
No projects found in our databank
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
+603 3168 7601 02 05 |
|
Current Telephone Number |
: |
03-31687601 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
LOT 596 LEBUH RAJA LUMU PANDAMARAN INDS. ESTATE P.O.BOX 204,42009 PORT
KALANG, |
|
Current Address |
: |
LOT 596, LEBUH RAJA LUMU, PANDAMARAN INDUSTRIAL ESTATE, 42009
PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
NO |
Other Investigations
On 19th June 2013 we contacted one of the staff from the SC and she provided
some information on the SC.
The address provided belongs to the SC's PO Box address.
|
The SC's latest financial accounts are up to 2010 which is out dated
in our opinion. Therefore, our comment on the SC financial performance is
restricted thereto. |
|
Overall financial condition of the SC : N/A |
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
<0.5> |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
<2.7> |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
<17.2> |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
<1.2> |
|
Investment ( % ) |
8.0 |
2.8 |
<0.3> |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
<28,450> |
<40,482> |
<45,511> |
<42,297> |
<39,993> |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
<4.8> |
<5.6> |
<5.4> |
<4.5> |
<4.0> |
|
Inflation ( % Change in Composite CPI) |
<5.2> |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
<0.1> |
6.2 |
3.0 |
<0.0> |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
<34.5> |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
<1.1> |
<3.4> |
10.8 |
<2.8> |
- |
|
Rubber |
<19.8> |
9.9 |
6.1 |
<0.6> |
- |
|
Forestry & Logging |
<5.9> |
<3.3> |
<7.6> |
<2.2> |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
<0.7> |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
<3.8> |
0.2 |
<5.7> |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
<1.7> |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
<9.4> |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented Industries |
<19.0> |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
<30.3> |
28.4 |
<4.9> |
1.6 |
- |
|
Rubber Products |
<10.1> |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
<24.1> |
20.1 |
<4.9> |
4.6 |
- |
|
Textiles & Apparel |
<19.5> |
<0.4> |
14.8 |
<7.1> |
- |
|
Domestic-oriented Industries |
<9.8> |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
<7.7> |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
<9.1> |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
<32.7> |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
<2.5> |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
<15.5> |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
<13.5> |
36.5 |
<10.4> |
13.7 |
- |
|
Paper & Paper Products |
<5.0> |
18.7 |
14.8 |
<7.8> |
- |
|
Crude Oil Refineries |
0.2 |
<11.4> |
9.3 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production Index |
|||||
|
MSIC CODE |
|
|
10402 : Manufacture of refined palm oil |
|
|
64200 : Activities of investment holding companies |
|
|
|
|
|
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 |
|
Incorporated in 2006, the SC is a Private Limited company, focusing on palm oil
based products and palm kernel based products and investment holding. Having
been in business for 7 years, the SC has established a remarkable clientele
base for itself which has contributed to its business growth. The SC is well
backed by a listed company shareholders which would stimulate further growth
for the SC. Hence, the potential growth of the SC is positive. The SC is a
large entity with strong capital position. We are confident with the SC's
business and its future growth prospect.
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. The SC is a fairly large and rapidly growing company
with over 320 staff in its operations Overall, we regard that the SC's
management capability is average.
No latest financial accounts were filed with the Registry office during our
inspection. Therefore, our comment on the SC's overall financial performance
are restricted thereto.
The SC's supplier are from both the local and overseas countries. This will
eliminates the risk of dependency on deliveries from a number of key suppliers
and insufficient quantities of its raw materials. Overall the SC has a good
control over its resources.
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.
In view of the above, we recommend credit be granted to the SC with close
monitoring.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
FELDA IFFCO SDN. BHD. |
|
Financial Year End |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
TURNOVER |
3,304,784,415 |
1,186,543,848 |
1,360,280,000 |
664,068,687 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
3,304,784,415 |
1,186,543,848 |
1,360,280,000 |
664,068,687 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
<50,712,843> |
27,774,169 |
25,400,579 |
9,691,703 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
<50,712,843> |
27,774,169 |
25,400,579 |
9,691,703 |
|
Taxation |
146,346 |
8,148,863 |
<5,131,847> |
<2,508,433> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<50,566,497> |
35,923,032 |
20,268,732 |
7,183,270 |
|
Minority interests |
1,195,076 |
88,877 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
<49,371,421> |
36,011,909 |
20,268,732 |
7,183,270 |
|
Extraordinary items |
<93,631> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
<49,465,052> |
36,011,909 |
20,268,732 |
7,183,270 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As previously reported |
59,605,465 |
25,343,556 |
7,183,270 |
- |
|
Prior year adjustment |
<883,023> |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
58,722,442 |
25,343,556 |
7,183,270 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
9,257,390 |
61,355,465 |
27,452,002 |
7,183,270 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
<1,750,000> |
<2,108,446> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,257,390 |
59,605,465 |
25,343,556 |
7,183,270 |
|
|
============= |
============= |
============= |
============= |
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
Bank overdraft |
8,610,808 |
3,760,964 |
- |
- |
|
Term loan / Borrowing |
20,529,340 |
1,097,452 |
- |
- |
|
Others |
1,303,506 |
702,335 |
769,387 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
30,443,654 |
5,560,751 |
769,387 |
- |
|
|
============= |
============= |
============= |
|
|
FELDA IFFCO SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
FIXED ASSETS |
516,452,824 |
423,700,419 |
75,924,612 |
30,473,589 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
Investments |
- |
218,427,424 |
- |
- |
|
Investment securities |
133,760 |
- |
- |
- |
|
Deferred assets |
9,198,976 |
7,560,340 |
- |
- |
|
Others |
75,787,680 |
30,305,694 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
85,120,416 |
256,293,458 |
- |
12,049,545 |
|
INTANGIBLE ASSETS |
|
|
|
|
|
Goodwill on consolidation |
850,912 |
916,331 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
850,912 |
916,331 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
602,424,152 |
680,910,208 |
75,924,612 |
42,523,134 |
|
CURRENT ASSETS |
|
|
|
|
|
Stocks |
274,111,815 |
206,228,157 |
21,043,139 |
- |
|
Trade debtors |
357,695,851 |
121,786,117 |
180,073,731 |
- |
|
Other debtors, deposits & prepayments |
15,355,400 |
32,855,039 |
10,462,600 |
- |
|
Short term deposits |
- |
- |
58,000,000 |
- |
|
Trading account securities |
238,812,839 |
- |
- |
- |
|
Deposits with financial institutions |
50,025,446 |
9,261,996 |
- |
- |
|
Amount due from related companies |
70,021,554 |
5,623,447 |
24,594,977 |
- |
|
Cash & bank balances |
72,505,880 |
62,489,933 |
5,313,806 |
- |
|
Others |
13,556,456 |
3,544,951 |
2,539,411 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,092,085,241 |
441,789,640 |
302,027,664 |
249,364,753 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,694,509,393 |
1,122,699,848 |
377,952,276 |
291,887,887 |
|
|
============= |
============= |
============= |
============= |
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade creditors |
73,028,536 |
95,961,446 |
36,876,440 |
- |
|
Other creditors & accruals |
91,132,782 |
145,029,304 |
7,179,157 |
- |
|
Bank overdraft |
18,055,347 |
826,760 |
- |
- |
|
Short term borrowings/Term loans |
36,188,402 |
48,266,694 |
74,236,491 |
- |
|
Deposits from customers |
- |
- |
11,782,065 |
- |
|
Bill & acceptances payable |
121,743,477 |
23,275,595 |
- |
- |
|
Amounts owing to related companies |
443,963,272 |
169,158,871 |
179,483,294 |
- |
|
Other liabilities |
102,806,825 |
74,828,686 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
886,918,641 |
557,347,356 |
309,557,447 |
248,067,651 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
205,166,600 |
<115,557,716> |
<7,529,783> |
1,297,102 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
807,590,752 |
565,352,492 |
68,394,829 |
43,820,236 |
|
|
============= |
============= |
============= |
============= |
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
317,325,000 |
285,960,000 |
35,000,000 |
35,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
317,325,000 |
285,960,000 |
35,000,000 |
35,000,000 |
|
RESERVES |
|
|
|
|
|
Exchange equalisation/fluctuation reserve |
<36,358,371> |
<10,593,787> |
- |
- |
|
Retained profit/(loss) carried forward |
9,257,390 |
59,605,465 |
25,343,556 |
7,183,270 |
|
Others |
17,504,172 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
<9,596,809> |
49,011,678 |
25,343,556 |
7,183,270 |
|
|
|
|
|
|
|
MINORITY INTEREST |
19,674,487 |
6,431,765 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
327,402,678 |
341,403,443 |
60,343,556 |
42,183,270 |
|
LONG TERM LIABILITIES |
|
|
|
|
|
Long term loans |
439,855,602 |
177,972,378 |
5,846,248 |
- |
|
Deferred taxation |
13,775,255 |
6,072,038 |
2,205,025 |
- |
|
Retirement benefits provision |
676,043 |
211,157 |
- |
- |
|
Others |
25,881,174 |
39,693,476 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
480,188,074 |
223,949,049 |
8,051,273 |
1,636,966 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
807,590,752 |
565,352,492 |
68,394,829 |
43,820,236 |
|
|
============= |
============= |
============= |
============= |
|
FELDA IFFCO SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
Cash |
72,505,880 |
62,489,933 |
63,313,806 |
- |
|
Net Liquid Funds |
<67,292,944> |
38,387,578 |
63,313,806 |
- |
|
Net Liquid Assets |
<68,945,215> |
<321,785,873> |
<28,572,922> |
1,297,102 |
|
Net Current Assets/(Liabilities) |
205,166,600 |
<115,557,716> |
<7,529,783> |
1,297,102 |
|
Net Tangible Assets |
806,739,840 |
564,436,161 |
68,394,829 |
43,820,236 |
|
Net Monetary Assets |
<549,133,289> |
<545,734,922> |
<36,624,195> |
<339,864> |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
Total Borrowings |
615,842,828 |
250,341,427 |
80,082,739 |
- |
|
Total Liabilities |
1,367,106,715 |
781,296,405 |
317,608,720 |
249,704,617 |
|
Total Assets |
1,694,509,393 |
1,122,699,848 |
377,952,276 |
291,887,887 |
|
Net Assets |
807,590,752 |
565,352,492 |
68,394,829 |
43,820,236 |
|
Net Assets Backing |
327,402,678 |
341,403,443 |
60,343,556 |
42,183,270 |
|
Shareholders' Funds |
327,402,678 |
341,403,443 |
60,343,556 |
42,183,270 |
|
Total Share Capital |
317,325,000 |
285,960,000 |
35,000,000 |
35,000,000 |
|
Total Reserves |
<9,596,809> |
49,011,678 |
25,343,556 |
7,183,270 |
|
LIQUIDITY (Times) |
|
|
|
|
|
Cash Ratio |
0.08 |
0.11 |
0.20 |
- |
|
Liquid Ratio |
0.92 |
0.42 |
0.91 |
- |
|
Current Ratio |
1.23 |
0.79 |
0.98 |
1.01 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock Ratio |
30 |
63 |
6 |
- |
|
Debtors Ratio |
40 |
37 |
48 |
- |
|
Creditors Ratio |
8 |
30 |
10 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
Gearing Ratio |
1.88 |
0.73 |
1.33 |
- |
|
Liabilities Ratio |
4.18 |
2.29 |
5.26 |
5.92 |
|
Times Interest Earned Ratio |
<0.67> |
5.99 |
34.01 |
- |
|
Assets Backing Ratio |
2.54 |
1.97 |
1.95 |
1.25 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
<1.53> |
2.34 |
1.87 |
1.46 |
|
Net Profit Margin |
<1.49> |
3.04 |
1.49 |
1.08 |
|
Return On Net Assets |
<2.51> |
5.90 |
38.26 |
22.12 |
|
Return On Capital Employed |
<2.40> |
5.81 |
38.26 |
22.12 |
|
Return On Shareholders' Funds/Equity |
<15.08> |
10.55 |
33.59 |
17.03 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.05 |
0.10 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.