|
* Adopted abbreviations :
|
SC - Subject Company (the company enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
264781-U
|
|
COMPANY NAME
|
:
|
KPS FUELING SOLUTIONS SDN. BHD.
|
|
FORMER NAME
|
:
|
GUARDIAN VENTURE (M) SDN BHD (05/01/2009)
|
|
INCORPORATION DATE
|
:
|
22/05/1993
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
L-2-2-18B,1ST. FLOOR, JALAN PEKAN BARU 36, KLANG;SELANGOR DARUL
EHSAN., 41050 KLANG, SELANGOR, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
14 JALAN TEKNOLOGI 3/1,SEKSYEN 3, SELANGOR SCIENCE PARK 1, KOTA
DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-61561644
|
|
FAX.NO.
|
:
|
03-61561344
|
|
WEB SITE
|
:
|
WWW.KPSYSTEM.COM
|
|
CONTACT PERSON
|
:
|
MAHINDA A/L K. VALLIPURAM ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46599
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF PETROL PIPING
|
|
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 6,736,867 [2011]
|
|
NET WORTH
|
:
|
MYR 5,576,082 [2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
50 [2013]
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL RISK
|
:
|
MODERATE
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
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 petrol
piping.
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. MAHINDA A/L K. VALLIPURAM +
|
15,LORONG RAJA HJ.OTHMAN, 41000 KLANG, SELANGOR, MALAYSIA.
|
650731-10-5645
|
150,000.00
|
30.00
|
|
KUNGSORS PLAST AB
|
FABRIKSGATAN 3,, S-73600 KUNGSOR, SWEEDEN
|
XLZ00213978
|
350,000.00
|
70.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
500,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
SELLING LARS OLOF ADAM
|
|
Address
|
:
|
25-31 JLN APOLLO U5/186, BANDAR PINGGIRAN SUBANG, SECTION U5, 40150 SHAH
ALAM, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
SWE62998977
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment
|
:
|
25/11/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. ASGARI BIN MOHD FUAD STEPHENS
|
|
Address
|
:
|
H-1-2-3 MENARA POLO, JALAN 1/76E, DESA PANDAN, 55100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
601008-12-5435
|
|
Date of Birth
|
:
|
08/10/1960
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
15/12/2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
MAHINDA A/L K. VALLIPURAM
|
|
Address
|
:
|
15,LORONG RAJA HJ.OTHMAN, 41000 KLANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
0186582
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment
|
:
|
26/08/1993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject
|
:
|
FAGERSTROM KARL AAGE CHRISTIAN
|
|
Address
|
:
|
14 JALAN TEKNOLOGI 3/1 SEKSYEN 3, SELANGOR SCIENCE PARK, KOTA
DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
SWE80079047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment
|
:
|
30/11/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject
|
:
|
MR. MAHINDA A/L K. VALLIPURAM
|
|
Address
|
:
|
15,LORONG RAJA HJ.OTHMAN, 41000 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
650731-10-5645
|
|
Date of Birth
|
:
|
31/07/1965
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
26/08/1993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
MAHINDA A/L K. VALLIPURAM
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
NOOR ARLINA
|
|
|
Position
|
:
|
ACCOUNTANT
|
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
CROWE HORWATH
|
|
Auditor' Address
|
:
|
16,TOWER C,MEGAN AVENUE II,12,JLN.YAP KWAN SENG.KL, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. YAP KWEE LAN
|
|
|
|
|
|
|
|
New IC No
|
:
|
550524-10-6508
|
|
|
Address
|
:
|
3, LINTANG ENGGANG, OFF JALAN MERU, 41050 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
MR. NG AH LEEK
|
|
|
|
|
|
|
|
New IC No
|
:
|
461215-10-5881
|
|
|
Address
|
:
|
3, LINTANG ENGGANG, OFF JALAN MERU, 41050 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
1
|
14/07/1997
|
N/A
|
BANK OF COMMERCE (M) BHD
|
MYR 550,000.00
|
Unsatisfied
|
|
2
|
17/09/1998
|
N/A
|
BANK OF COMMERCE (M) BHD
|
MYR 200,000.00
|
Unsatisfied
|
|
3
|
05/11/1998
|
N/A
|
BANK OF COMMERCE (M) BHD
|
MYR 50,000.00
|
Unsatisfied
|
|
4
|
27/07/2001
|
N/A
|
BUMIPUTRA-COMMERCE BANK BHD
|
MYR 1,000.00
|
Unsatisfied
|
|
5
|
14/11/2002
|
N/A
|
BUMIPUTRA-COMMERCE BANK BHD
|
MYR 135,000.00
|
Unsatisfied
|
|
6
|
25/03/2004
|
N/A
|
BUMIPUTRA-COMMERCE BANK BHD
|
MYR 1,365,000.00
|
Unsatisfied
|
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
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
SINGAPORE
THAILAND
CHINA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Type of Customer
|
:
|
OIL & GAS INDUSTRIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
PETROL PIPING
|
|
|
|
|
|
Member(s) / Affiliate(s)
|
:
|
SMI ASSOCIATION OF MALAYSIA
SMALL & MEDIUM ENTERPRISE
|
|
|
|
|
|
Total Number of Employees:
|
|
YEAR
|
2013
|
|
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
50
|
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of petrol piping.
SC is a market-leading supplier of petrol piping.
We were informed that SC is the supplier of petrol piping to major oil
companies like ExxonMobil and Petronas.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
3 6156 164
|
|
Current Telephone Number
|
:
|
03-61561644
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address Provided by Client
|
:
|
14 JALAN TEKNOLOGI 3/1 SECTION 3
|
|
Current Address
|
:
|
14 JALAN TEKNOLOGI 3/1,SEKSYEN 3, SELANGOR SCIENCE PARK 1, KOTA
DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
YES
|
Other Investigations
We contacted one
of the SC's staff from Admin Department. She provided some information of the
SC.
The address provided is incomplete.
The SC refused to disclose its banker.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Erratic
|
[
|
2007 - 2011
|
]
|
|
|
Profit/(Loss) Before Tax
|
:
|
Decreased
|
[
|
2007 - 2011
|
]
|
|
|
Return on Shareholder Funds
|
:
|
Unfavourable
|
[
|
<1.52%>
|
]
|
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
<1.46%>
|
]
|
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The SC could be more efficient in controlling
its operating costs and had managed to reduce its losses during the year.
The SC's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
2.24 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC was in good liquidity position with its current liabilities
well covered by its current assets. With its net current assets, the SC should
be able to repay its short term obligations.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Liability Ratio
|
:
|
Favourable
|
[
|
0.77 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A low liabilities ratio has minimised the SC's financial risk.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
The SC's turnover showed a volatile trend but its losses were lower when
compared to the previous corresponding period. This could suggest that the
SC was more efficient in its operating cost control and was more
competitive. The SC was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the SC should be able to repay its short term obligations. The SC
has a low liabilities ratio. It's liabilities were low and was not
vulnerable to the financial risk.
|
|
|
|
|
|
|
|
|
|
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
|
|
46599 : Wholesale of other machinery for use in industry, trade and navigation
and other services n.e.c.
|
|
|
|
|
INDUSTRY :
|
MACHINERY
|
|
|
|
|
|
|
Malaysia is presently the leading manufacturer of automation
machinery and equipment (M&E) for the electrical and electronics
(E&E) industry in the ASEAN region with a total of 22 companies in
production. The machinery and equipment industry has expanded and produce a
diverse range of machinery which give importance to the overall industrial
development of the country, due to its cross cutting linkages with all
industrial sectors.
|
|
|
|
Malaysia implemented Industrial Master Plan 3 (IMP3, 2006-2020),
which the machinery and equipment industry has been established as one of
the key areas for growth and development. The implementation focused on the
manufacture of high value-added and high technology machinery and equipment
(M&E). Under this plan, M&E will positioned Malaysia as the
regional production hub for high technology and specialized M&E in the
ASEAN region for 2012.
|
|
|
|
Furthemore for the year 2012, Malaysia is the largest manufacturing
hub of boilers in the Southeast Asia region. The exports are mainly
directed to the neighboring countries such as Indonesia, Philippines,
Thailand and Cambodia. Exports of machinery and equipment registered a
double-digit growth of 12.6% in the frst seven month of 2012 mainly driven
by general industrial machinery and equipment as well as specialised
machinery for specific industries.
|
|
|
|
For enhance the machinery and equipment (M&E), the government
has introduced two major tax incentives for companies investing in the
manufacturing sector where the pioneer status and the investment tax
allowance. The tax incentives would remain to be a competitive industry
within ASEAN.
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1993, the SC is a Private Limited company, focusing on
trading of petrol piping. Having been in the industry for over a decade,
the SC has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. Having strong support from its holding company has enabled the
SC to remain competitive despite the challenging business environment.
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 operating on a medium
scale and it has approximately 50 employees in its business operations.
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.
Despite the higher turnover, the SC suffered pre-tax losses which reflected
a highly competitive business environment. The SC has generated an
unfavourable return on shareholders' funds indicating that the management
was inefficient in utilising its funds to generate return. The SC is in
good liquidity position with its current liabilities well covered by it
current assets. Hence, it has sufficient working capital to meet its short
term financial obligations. A low liabilities ratio has minimised the SC's
financial risk. Given a positive net worth standing at MYR 5,576,082, 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 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 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
promptly.
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
KPS FUELING
SOLUTIONS SDN. BHD.
|
|
Financial Year End
|
31/12/2011
|
31/12/2010
|
31/12/2009
|
31/12/2008
|
31/12/2007
|
|
Months
|
12
|
12
|
12
|
12
|
12
|
|
Consolidated Account
|
Company
|
Company
|
Company
|
Company
|
Company
|
|
Audited Account
|
YES
|
YES
|
YES
|
YES
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
YES
|
YES
|
YES
|
YES
|
|
Financial Type
|
SUMMARY
|
SUMMARY
|
SUMMARY
|
SUMMARY
|
SUMMARY
|
|
Currency
|
MYR
|
MYR
|
MYR
|
MYR
|
MYR
|
|
|
|
|
|
|
|
|
TURNOVER
|
6,736,867
|
6,542,996
|
8,612,808
|
6,508,874
|
13,036,963
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
6,736,867
|
6,542,996
|
8,612,808
|
6,508,874
|
13,036,963
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
<84,521>
|
<218,205>
|
298,145
|
125,036
|
3,487,182
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
<84,521>
|
<218,205>
|
298,145
|
125,036
|
3,487,182
|
|
Taxation
|
-
|
<17,944>
|
<210,614>
|
<94,200>
|
<980,000>
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
<84,521>
|
<236,149>
|
87,531
|
30,836
|
2,507,182
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
|
|
As previously reported
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
2,771,203
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
2,771,203
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
5,076,082
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
5,076,082
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
BALANCE SHEET
|
KPS FUELING
SOLUTIONS SDN. BHD.
|
|
ASSETS EMPLOYED:
|
|
|
|
|
|
|
FIXED ASSETS
|
630,330
|
138,668
|
170,852
|
193,179
|
99,948
|
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
|
|
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
75,000
|
75,000
|
75,000
|
-
|
0
|
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
705,330
|
213,668
|
245,852
|
193,179
|
99,948
|
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS
|
9,179,947
|
8,106,943
|
10,211,557
|
8,562,204
|
10,167,826
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
9,885,277
|
8,320,611
|
10,457,409
|
8,755,383
|
10,267,774
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
4,098,092
|
2,812,008
|
4,712,657
|
3,086,114
|
4,584,301
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
5,081,855
|
5,294,935
|
5,498,900
|
5,476,090
|
5,583,525
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET ASSETS
|
5,787,185
|
5,508,603
|
5,744,752
|
5,669,269
|
5,683,473
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
|
Ordinary share capital
|
500,000
|
348,000
|
348,000
|
348,000
|
348,000
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE CAPITAL
|
500,000
|
348,000
|
348,000
|
348,000
|
348,000
|
|
|
|
|
|
|
|
|
RESERVES
|
|
|
|
|
|
|
Retained profit/(loss) carried forward
|
5,076,082
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
5,076,082
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
|
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
5,576,082
|
5,508,603
|
5,744,752
|
5,657,221
|
5,626,385
|
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
211,103
|
-
|
-
|
12,048
|
57,088
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
5,787,185
|
5,508,603
|
5,744,752
|
5,669,269
|
5,683,473
|
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
KPS FUELING
SOLUTIONS SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
|
|
|
|
Net Liquid Assets
|
5,081,855
|
5,294,935
|
5,498,900
|
5,476,090
|
5,583,525
|
|
Net Current Assets/(Liabilities)
|
5,081,855
|
5,294,935
|
5,498,900
|
5,476,090
|
5,583,525
|
|
Net Tangible Assets
|
5,787,185
|
5,508,603
|
5,744,752
|
5,669,269
|
5,683,473
|
|
Net Monetary Assets
|
4,870,752
|
5,294,935
|
5,498,900
|
5,464,042
|
5,526,437
|
|
|
|
|
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
|
|
|
|
Total Liabilities
|
4,309,195
|
2,812,008
|
4,712,657
|
3,098,162
|
4,641,389
|
|
Total Assets
|
9,885,277
|
8,320,611
|
10,457,409
|
8,755,383
|
10,267,774
|
|
Net Assets
|
5,787,185
|
5,508,603
|
5,744,752
|
5,669,269
|
5,683,473
|
|
Net Assets Backing
|
5,576,082
|
5,508,603
|
5,744,752
|
5,657,221
|
5,626,385
|
|
Shareholders' Funds
|
5,576,082
|
5,508,603
|
5,744,752
|
5,657,221
|
5,626,385
|
|
Total Share Capital
|
500,000
|
348,000
|
348,000
|
348,000
|
348,000
|
|
Total Reserves
|
5,076,082
|
5,160,603
|
5,396,752
|
5,309,221
|
5,278,385
|
|
|
|
|
|
|
|
|
LIQUIDITY (Times)
|
|
|
|
|
|
|
Current Ratio
|
2.24
|
2.88
|
2.17
|
2.77
|
2.22
|
|
|
|
|
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
|
|
|
|
Liabilities Ratio
|
0.77
|
0.51
|
0.82
|
0.55
|
0.82
|
|
Assets Backing Ratio
|
16.63
|
15.83
|
16.51
|
16.29
|
16.33
|
|
|
|
|
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
|
|
|
|
Operating Profit Margin
|
<1.25>
|
<3.33>
|
3.46
|
1.92
|
26.75
|
|
Net Profit Margin
|
<1.25>
|
<3.61>
|
1.02
|
0.47
|
19.23
|
|
Return On Net Assets
|
<1.46>
|
<3.96>
|
5.19
|
2.21
|
61.36
|
|
Return On Capital Employed
|
<1.46>
|
<3.96>
|
5.19
|
2.21
|
61.36
|
|
Return On Shareholders' Funds/Equity
|
<1.52>
|
<4.29>
|
1.52
|
0.55
|
44.56
|
|
|
|
|
|
|
|
|