|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACE PRIMA RESOURCES SDN. BHD. |
|
|
|
|
Registered Office : |
94a, Jalan Bangsar, 1st Floor, 59200 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Date of Incorporation : |
06.05.2009 |
|
|
|
|
Com. Reg. No.: |
855814-P |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Traders of commodities especially palm oil downstream products |
|
|
|
|
No. of Employees : |
03 [2013] |
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 : |
Unknown |
|
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 |
|
*
Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
|
|
|
N/A - Not Applicable |
|
|
REGISTRATION NO. |
: |
855814-P |
||||
|
COMPANY NAME |
: |
ACE PRIMA
RESOURCES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
06/05/2009 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
94A, JALAN BANGSAR, 1ST FLOOR, 59200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
94A, JALAN BANGSAR, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-22848244 |
||||
|
FAX.NO. |
: |
03-22842844 |
||||
|
CONTACT PERSON |
: |
KUMARAN ( GENERAL MANAGER ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46202 469 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADERS OF COMMODITIES ESPECIALLY PALM OIL
DOWNSTREAM PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
MYR 98,120 [2010] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
3 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
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) traders of commodities especially palm oil downstream products.
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. N. MEHANATHAN A/L NACKEERAN + |
23, JALAN KIPARK 2A, TAMAN KIPARK, 47120 PUCHONG, SELANGOR, MALAYSIA. |
840605-04-5247 |
50,000.00 |
50.00 |
|
MR. LEE SHASHITHEREN + |
NO. 5, JALAN TITIWANGSA 20, TAMAN TAMPOI INDAH, 81200 JOHOR BAHRU, JOHOR, MALAYSIA. |
751226-08-6271 |
50,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. N. MEHANATHAN A/L NACKEERAN |
|
Address |
: |
23, JALAN KIPARK 2A, TAMAN KIPARK, 47120 PUCHONG, SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
840605-04-5247 |
|
Date of Birth |
: |
05/06/1984 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/05/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. LEE SHASHITHEREN |
|
Address |
: |
NO. 5, JALAN TITIWANGSA 20, TAMAN TAMPOI INDAH, 81200 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
751226-08-6271 |
|
Date of Birth |
: |
26/12/1975 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/05/2009 |
|
1) |
Name of Subject |
: |
KUMARAN |
|
|
Position |
: |
GENERAL MANAGER |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
MS. SARGUNA KUMAARI A/P MUNUSAMY |
|
|
|
|
|
|
|
New IC No |
: |
740930-07-5126 |
|
|
Address |
: |
26-3, FABER RIA APARTMENT, TAMAN DESA, OLD
KLANG ROAD, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK 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. 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 |
: |
90% |
|
Overseas |
: |
YES |
Percentage |
: |
10% |
|
Import Countries |
: |
CHINA,INDIA |
|||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
COMMODITIES, ESPECIALLY PALM OIL
DOWNSTREAM PRODUCTS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
3 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The SC is
principally engaged in the (as a / as an) traders of commodities especially
palm oil downstream products.
The SC is a commodity dealer.
The SC mainly deals with palm oil downstream products such as fatty acids, Palm
Fatty Acid Distillate and others.
The SC supplies the products in bulk and loose quantity as per requested by its
clients.
No projects found in our databank
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
012 201 2522 |
|
Current Telephone Number |
: |
03-22848244 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
94A JALAN BANGSAR 59200 KUALA LAMPUR |
|
Current Address |
: |
94A, JALAN BANGSAR, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
NO |
Other
Investigations
We contacted Mr Kumaran,
the SC's General Manager. He furnished some information on the SC.
The SC only started its business operation in 2011.
FINANCIAL ANALYSIS
|
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 |
- |
- |
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* Estimate / Preliminary |
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** Forecast |
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# Based On Manufacturing Production
Index |
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MSIC CODE |
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46202 : Wholesale of palm oil |
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469 : Non-specialized wholesale trade |
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INDUSTRY : |
PALM OIL |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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OVERALL INDUSTRY OUTLOOK : Mature |
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The SC is a
Private Limited company, focusing on trading of commodities especially palm oil
downstream products. As a relatively new company, the SC has slowly been
building up contact with its clients while competing in the industry.
However, it has yet to enjoy a stable market shares as it need to compete
many well established players in the same field. With a weak shareholders'
backing, the SC's capital position is weak. Inadequate capital may be a
constraint to the SC as it limits its ability to expand its business in
future. The capital standing of the SC is weak. The SC may face difficulties
to expand its business compared to other large corporation. |
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THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
ACE PRIMA
RESOURCES SDN. BHD. |
|
Financial Year End |
30/06/2010 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
0 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
<1,880> |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
<1,880> |
|
Taxation |
0 |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<1,880> |
|
|
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
<1,880> |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
<1,880> |
|
|
============= |
|
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|
ACE PRIMA
RESOURCES SDN. BHD. |
|
CURRENT ASSETS |
|
|
TOTAL CURRENT ASSETS |
99,000 |
|
|
---------------- |
|
TOTAL ASSET |
99,000 |
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|
============= |
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|
CURRENT
LIABILITIES |
|
|
TOTAL CURRENT LIABILITIES |
880 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
98,120 |
|
|
---------------- |
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TOTAL NET ASSETS |
98,120 |
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|
============= |
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SHARE CAPITAL |
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|
Ordinary share capital |
100,000 |
|
|
---------------- |
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TOTAL SHARE CAPITAL |
100,000 |
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|
RESERVES |
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|
Retained profit/(loss) carried forward |
<1,880> |
|
|
---------------- |
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TOTAL RESERVES |
<1,880> |
|
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|
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|
---------------- |
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SHAREHOLDERS' FUNDS/EQUITY |
98,120 |
|
|
|
|
|
---------------- |
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|
98,120 |
|
|
============= |
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|
ACE PRIMA
RESOURCES SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
98,120 |
|
Net Current Assets/(Liabilities) |
98,120 |
|
Net Tangible Assets |
98,120 |
|
Net Monetary Assets |
98,120 |
|
|
|
|
BALANCE SHEET
ITEMS |
|
|
Total Liabilities |
880 |
|
Total Assets |
99,000 |
|
Net Assets |
98,120 |
|
Net Assets Backing |
98,120 |
|
Shareholders' Funds |
98,120 |
|
Total Share Capital |
100,000 |
|
Total Reserves |
<1,880> |
|
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LIQUIDITY
(Times) |
|
|
Current Ratio |
112.50 |
|
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|
SOLVENCY RATIOS
(Times) |
|
|
Liabilities Ratio |
0.01 |
|
Assets Backing Ratio |
0.98 |
|
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|
PERFORMANCE
RATIO (%) |
|
|
Return On Net Assets |
<1.92> |
|
Return On Capital Employed |
<1.92> |
|
Return On Shareholders' Funds/Equity |
<1.92> |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.