|
Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
AZBIL MALAYSIA SDN. BHD. |
|
|
|
|
Formerly Known As : |
YAMATAKE AUTOMATION (M) SDN BHD |
|
|
|
|
Registered Office : |
14-2, Persiaran 65c, Pekeliling Business Centre, Jalan Pahang Barat, Off Jalan Tun Razak, 53000 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.08.1999 |
|
|
|
|
Com. Reg. No.: |
491432-T |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of building automation, control automation and industrial
automation equipment |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Usually Correct |
|
Litigation : |
Exists |
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 |
|
* Adopted
abbreviations : |
SC - Subject Company (the company enquired by you) |
|
|
|
|
|
N/A - Not Applicable |
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|
|
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|
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|
REGISTRATION NO. |
: |
491432-T |
||||
|
COMPANY NAME |
: |
AZBIL MALAYSIA SDN. BHD. |
||||
|
FORMER NAME |
: |
YAMATAKE AUTOMATION (M) SDN BHD (06/03/2009) |
||||
|
INCORPORATION DATE |
: |
14/08/1999 |
||||
|
|
|
|
||||
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|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
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|
|
|
||||
|
REGISTERED ADDRESS |
: |
14-2, PERSIARAN 65C, PEKELILING BUSINESS CENTRE, JALAN PAHANG BARAT,
OFF JALAN TUN RAZAK, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
SUITE 11.02 LEVEL 11,THE GARDENS SOUTH TOWER, LINGKARAN SYED PUTRA,
59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-22877036 |
||||
|
FAX.NO. |
: |
03-22877039 |
||||
|
EMAIL |
: |
|||||
|
WEB SITE |
: |
|||||
|
CONTACT PERSON |
: |
KIMIO ANAN ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46531 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF BUILDING AUTOMATION, CONTROL AUTOMATION AND INDUSTRIAL
AUTOMATION EQUIPMENT |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,700,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,600,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 17,447,129 [2011] |
||||
|
NET WORTH |
: |
MYR 5,177,032 [2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
40 |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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 building automation, control automation and industrial automation equipment.
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 |
(%) |
|
AZBIL CORPORATION |
TOKYO BUILDING, 2-7-3 MARUNOUCHI, CHIYODA-KU, TOKYO, 100-6419, JAPAN. |
JP011032 |
1,600,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,600,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
TOSHIHIRO SATO |
|
Address |
: |
15-L, SINARAN CONDOMINIUM, JALAN TUN MOHD FUAD 3, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TK6354578 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/05/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
TOSHIHISA MURAYAMA |
|
Address |
: |
KUNO 2728, ODAWARA-SHI, KANAGAWA-KEN, 250-0055, JAPAN. |
|
IC / PP No |
: |
TZ0435106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/07/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
TETSUO TAKAMURA |
|
Address |
: |
4-23-1-207 SHONANDAI, FUJISAWA-SHI, KANAGAWA-KEN, 252-0804, JAPAN. |
|
IC / PP No |
: |
TH5737209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
18/04/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
YOSHIFUMI SUZUKI |
|
Address |
: |
2-31-5-102 SEYA, SEYA-KU, YOKOHAMA-SHI, KANAGAWA-KEN, 246-0031, JAPAN. |
|
IC / PP No |
: |
TK2922661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
18/04/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
YUSUKE OSHIDA |
|
Address |
: |
7, ONE NORTH GATEWAY #07-19, ONE NORTH RESIDENCES, 138642, SINGAPORE. |
|
IC / PP No |
: |
TZ0828886 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/05/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
DIRECTOR 6
|
Name Of Subject |
: |
NAOKI WAKAMATSU |
|
Address |
: |
19-27-6, ROYAL TOWER, MONT KIARA PALMA, JALAN KIARA MONT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TZ0731251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/05/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
KIMIO ANAN |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
RUBY |
|
|
Position |
: |
ACCOUNT MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
TOSHIHIRO SATO |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
DELOITTE KASSIMCHAN |
|
Auditor' Address |
: |
UPTOWN 1, JALAN SS21/58, DAMANSARA UPTOWN, LEVEL 19, 47400 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MR. CHEONG NAM SAN |
|
|
|
|
|
|
|
New IC No |
: |
500130-10-5435 |
|
|
Address |
: |
6, JALAN 10/3, 46000 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank against the SC whether the subject
has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|
|
||||||||||||
|
Code No |
: |
22 |
Case No |
: |
502 |
||||||||
|
Year |
: |
2006 |
Place |
: |
KUALA LUMPUR |
||||||||
|
Court No |
: |
D1 |
|
|
|
||||||||
|
Court |
: |
HIGH COURT |
|
|
|
||||||||
|
Solicitor |
: |
JASBEER NUR & LEE |
|
|
|
||||||||
|
Solicitor Tel. No. |
: |
03-26948908 |
|
|
|
||||||||
|
Plaintiff |
: |
J & M POWER RESOURCES SDN BHD |
|
|
|
||||||||
|
Defendants |
: |
|
|
|
|
||||||||
|
Amount Claimed |
: |
426,657.12 |
|
|
|
|
|
|
|
|
|||
|
Nature of Claim |
: |
GDS SOLD & DELIVERED |
|
|
|
|
|
|
|
|
|||
|
NOTE: |
Please check with creditors for confirmation as alleged debts may have
been paid since recorded or are being disputed. The person wo has been sued
has the same name as the subject. However, we are unable to determine whether
the person sued is the one and the same person. |
|
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 |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
JAPAN |
|
The SC refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Payment Mode |
: |
CHEQUES |
|||
|
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|
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|
|
|
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|
|
|
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|
Goods Traded |
: |
BUILDING AUTOMATION, CONTROL AUTOMATION AND INDUSTRIAL AUTOMATION
EQUIPMENT
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2012 |
2010 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
40 |
40 |
|
|
|
|
|
|
|
|
Branch |
: |
YES
|
|
|
No of Branches |
: |
4
|
|
|
|
|
|
Other Information:
The SC is
principally engaged in the (as a / as an) trading of building automation,
control automation and industrial automation equipment.
The SC is engages in trading of the building automation, control automation and
industrial automation equipment.
We were informed that the has its branch at Penang, Johor Bahru, Kuching and
Kemaman with its headquarter is based at Kuala Lumpur.
No projects found in our databank
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-22877036 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
SUITE II 02 LEVEL II, THE GARDENS SOUTH TOWER, MID VALLEY CITY
LINGKARAN SYED PUTRA KUALA LUMPUR 59200 |
|
Current Address |
: |
SUITE 11.02 LEVEL 11,THE GARDENS SOUTH TOWER, LINGKARAN SYED PUTRA,
59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, 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 number of employees.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
22.16% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
30.82% |
] |
|
|
|
|
|
|
|
|
|
|
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. The SC's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
45 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
73 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the SC was weak in its credit control. However, the SC could
also giving longer credit periods to its customers in order to boost its
sales or to capture / retain its market share. The SC had a favourable
creditors' ratio where the SC could be taking advantage of the cash discounts
and also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.29 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.54 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the SC in order to
assure its creditors of its ability to meet short term obligations and the SC
was in a good liquidity position. Thus, we believe the SC is able to meet all
its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
73.41 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.49 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the SC was able to service the
interest. The favourable interest cover could indicate that the SC was making
enough profit to pay for the interest accrued. The SC was lowly geared thus
it had a low financial risk. The SC was mainly financed by its shareholders'
funds and internally generated funds. In times of economic slowdown /
downturn, the SC being a lowly geared company, will be able to compete better
than those companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. With the
favourable interest cover, the SC could be able to service all the accrued
interest without facing any difficulties. The SC as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : STABLE |
||||||
|
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 |
|
|
46531 : Wholesale of agricultural machinery, equipment and supplies |
|
|
|
|
|
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 |
|
|
Incorporated in 1999, the SC is a Private
Limited company, focusing on trading of building automation, control
automation and industrial automation equipment. 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. With an issued and paid up capital of RM1.6
million and strong shareholders' backing, the SC has the ability to further
expand its business in the future. Over the years, the SC should have build
up its clientele base and received supports from its regular customers.
Investigation revealed that the SC's interest lies mostly in the local
market. Thus, any adverse changes to the local economy might have a negative
impact on the SC's business performance. 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.
Return on shareholders' funds of the SC was at an acceptable range which
indicated that the management was efficient in utilising its funds to
generate income. 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. Being a lowly geared company,
the SC is exposed to low financial risk as it is mainly dependent on its
internal funds to finance its business needs. Given a positive net worth
standing at MYR 5,177,032, the SC should be able to maintain its business in
the near terms. Overall, the SC's payment habit is good as
the SC has a good credit control and it could be taking advantage of the cash
discounts while maintaining a good reputation with its creditors. 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. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
AZBIL MALAYSIA 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 |
FULL |
FULL |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
17,447,129 |
15,021,687 |
10,170,149 |
10,728,342 |
9,655,782 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
17,447,129 |
15,021,687 |
10,170,149 |
10,728,342 |
9,655,782 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,590,438 |
1,159,534 |
829,518 |
277,144 |
799,318 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
1,590,438 |
1,159,534 |
829,518 |
277,144 |
799,318 |
|
Taxation |
<443,003> |
<281,770> |
<121,724> |
<225,596> |
<125,189> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
1,147,435 |
877,764 |
707,794 |
51,548 |
674,129 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
118,362 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
118,362 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,577,032 |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,577,032 |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Hire purchase |
3,371 |
2,529 |
- |
- |
- |
|
Loan from holding company |
18,594 |
19,163 |
- |
- |
- |
|
|
---------------- |
---------------- |
|
|
|
|
|
21,965 |
21,692 |
|
|
|
|
AZBIL MALAYSIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
528,979 |
418,981 |
329,057 |
452,830 |
426,025 |
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Associated companies |
30,000 |
30,000 |
- |
- |
- |
|
Deferred assets |
93,581 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
123,581 |
30,000 |
30,000 |
0 |
0 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
652,560 |
448,981 |
359,057 |
452,830 |
426,025 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
2,136,645 |
1,241,751 |
- |
- |
- |
|
Trade debtors |
3,473,626 |
5,258,488 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
313,922 |
239,865 |
- |
- |
- |
|
Short term deposits |
2,888,103 |
842,364 |
- |
- |
- |
|
Amount due from associated companies |
534,580 |
751,509 |
- |
- |
- |
|
Cash & bank balances |
3,689,388 |
2,394,444 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
13,036,264 |
10,728,421 |
7,867,482 |
6,251,729 |
5,862,631 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
13,688,824 |
11,177,402 |
8,226,539 |
6,704,559 |
6,288,656 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
1,160,718 |
1,757,426 |
- |
- |
- |
|
Other creditors & accruals |
760,419 |
600,884 |
- |
- |
- |
|
Hire purchase & lease creditors |
24,000 |
24,000 |
- |
- |
- |
|
Short term borrowings/Term loans |
2,471,134 |
2,435,648 |
- |
- |
- |
|
Amounts owing to holding company |
2,627,289 |
2,070,776 |
- |
- |
- |
|
Amounts owing to related companies |
1,172,300 |
- |
- |
- |
- |
|
Provision for taxation |
241,932 |
170,071 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
8,457,792 |
7,058,805 |
5,063,706 |
4,233,520 |
3,896,165 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
4,578,472 |
3,669,616 |
2,803,776 |
2,018,209 |
1,966,466 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
5,231,032 |
4,118,597 |
3,162,833 |
2,471,039 |
2,392,491 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
3,577,032 |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
3,577,032 |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
5,177,032 |
4,029,597 |
3,151,833 |
2,444,039 |
2,392,491 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Hire purchase creditors |
54,000 |
78,000 |
- |
- |
- |
|
Deferred taxation |
- |
11,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
54,000 |
89,000 |
11,000 |
27,000 |
0 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
5,231,032 |
4,118,597 |
3,162,833 |
2,471,039 |
2,392,491 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
AZBIL MALAYSIA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
6,577,491 |
3,236,808 |
- |
- |
- |
|
Net Liquid Funds |
6,577,491 |
3,236,808 |
- |
- |
- |
|
Net Liquid Assets |
2,441,827 |
2,427,865 |
2,803,776 |
2,018,209 |
1,966,466 |
|
Net Current Assets/(Liabilities) |
4,578,472 |
3,669,616 |
2,803,776 |
2,018,209 |
1,966,466 |
|
Net Tangible Assets |
5,231,032 |
4,118,597 |
3,162,833 |
2,471,039 |
2,392,491 |
|
Net Monetary Assets |
2,387,827 |
2,338,865 |
2,792,776 |
1,991,209 |
1,966,466 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
2,549,134 |
2,537,648 |
- |
- |
- |
|
Total Liabilities |
8,511,792 |
7,147,805 |
5,074,706 |
4,260,520 |
3,896,165 |
|
Total Assets |
13,688,824 |
11,177,402 |
8,226,539 |
6,704,559 |
6,288,656 |
|
Net Assets |
5,231,032 |
4,118,597 |
3,162,833 |
2,471,039 |
2,392,491 |
|
Net Assets Backing |
5,177,032 |
4,029,597 |
3,151,833 |
2,444,039 |
2,392,491 |
|
Shareholders' Funds |
5,177,032 |
4,029,597 |
3,151,833 |
2,444,039 |
2,392,491 |
|
Total Share Capital |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
1,600,000 |
|
Total Reserves |
3,577,032 |
2,429,597 |
1,551,833 |
844,039 |
792,491 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.78 |
0.46 |
- |
- |
- |
|
Liquid Ratio |
1.29 |
1.34 |
- |
- |
- |
|
Current Ratio |
1.54 |
1.52 |
1.55 |
1.48 |
1.50 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
45 |
30 |
- |
- |
- |
|
Debtors Ratio |
73 |
128 |
- |
- |
- |
|
Creditors Ratio |
24 |
43 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.49 |
0.63 |
- |
- |
- |
|
Liabilities Ratio |
1.64 |
1.77 |
1.61 |
1.74 |
1.63 |
|
Times Interest Earned Ratio |
73.41 |
54.45 |
- |
- |
- |
|
Assets Backing Ratio |
3.27 |
2.57 |
1.98 |
1.54 |
1.50 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
9.12 |
7.72 |
8.16 |
2.58 |
8.28 |
|
Net Profit Margin |
6.58 |
5.84 |
6.96 |
0.48 |
6.98 |
|
Return On Net Assets |
30.82 |
28.68 |
26.23 |
11.22 |
33.41 |
|
Return On Capital Employed |
30.68 |
28.51 |
26.23 |
11.22 |
33.41 |
|
Return On Shareholders' Funds/Equity |
22.16 |
21.78 |
22.46 |
2.11 |
28.18 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
UK Pound |
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.