|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
WRP ASIA PACIFIC SDN. BHD. |
|
|
|
|
Formerly Known As : |
WEMBLEY RUBBER PRODUCTS (M) SDN BHD (01/12/1998) |
|
|
|
|
Registered Office : |
55, Medan Ipoh 1a, Medan Ipoh Bistari, 31400 Ipoh, Perak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
28.11.1985 |
|
|
|
|
Com. Reg. No.: |
147817-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Manufacturing and Trading of Rubber Gloves |
|
|
|
|
No. of Employees : |
18 |
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 : |
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. |
: |
147817-V |
|
COMPANY NAME |
: |
WRP ASIA PACIFIC SDN. BHD. |
|
FORMER NAME |
: |
WEMBLEY RUBBER PRODUCTS (M) SDN BHD (01/12/1998) |
|
INCORPORATION DATE |
: |
28/11/1985 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
55, MEDAN IPOH 1A, MEDAN IPOH BISTARI, 31400 IPOH, PERAK, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 1, JALAN 3, KAWASAN PERUSAHAAN BANDAR BARU SALAK TINGGI, 43900
SEPANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-87061486 |
|
FAX.NO. |
: |
03-87061557 |
|
EMAIL |
: |
HQ_WRP@WRPWORLD.COM |
|
WEB SITE |
: |
WWW.WRPWORLD.COM |
|
CONTACT PERSON |
: |
LEE SON HONG ( CEO ) |
|
INDUSTRY CODE |
: |
22192 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF RUBBER GLOVES
|
|
AUTHORISED CAPITAL |
: |
MYR 500,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 195,355,405.00 DIVIDED INTO |
|
SALES |
: |
MYR 662,919,804 [2011] |
|
NET WORTH |
: |
MYR 263,399,511 [2011] |
|
M1000 OVERALL RANKING |
: |
610[2011] |
|
M1000 INDUSTRY RANKING |
: |
18[2011] |
|
STAFF STRENGTH |
: |
3,000 [2013] |
|
BANKER (S) |
|
HSBC BANK MALAYSIA BHD |
|
LITIGATION |
: |
TRACED |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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) manufacturing and
trading of rubber gloves.
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 |
2005 |
|
|
OVERALL RANKING |
610 |
520 |
|
|
INDUSTRY RANKING |
18 |
6 |
|
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AVENUE INTERLINK SDN. BHD. |
C-2-11, 2ND FLOOR, NO. 2, PERSIARAN GREENTOWN 3, GREENTOWN BUSINESS
CENTRE, 30450 IPOH, PERAK, MALAYSIA. |
909376 |
98,823,876.00 |
25.29 |
|
WISMA DENMARK SDN. BHD. |
UNIT 4-8-7 8TH FLOOR, QUEEN'S AVENUE, BLOCK 4 JALAN BAYAM, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
105878 |
90,862,542.00 |
23.26 |
|
GREAT ADVANCE INVESTMENTS LIMITED |
1 RAFFLES PLACE #43-01, OUB CENTRE, 048616, SINGAPORE. |
670759 |
74,114,866.00 |
18.97 |
|
MR. LEE SON HONG + |
9 LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
570226-08-5145 |
40,313,485.00 |
10.32 |
|
MS. TOO SOOI KENG + |
NO.9, LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
570713-08-6532 |
20,000,000.00 |
5.12 |
|
MS. MOK YING |
27,LORONG KEMARIS TIGA, BUKIT BANDARAYA, 59100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
530314-04-5200 |
13,025,000.00 |
3.33 |
|
FORVENT A.G. |
KIRCHSTRASSE 39, 9490 VADUZ, LICHTENSTEIN |
XLZ00219242 |
8,400,000.00 |
2.15 |
|
ESSIEN HOLDINGS LIMITED |
50 RAFFLES PLACE 13-05, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
4785666 |
6,713,396.00 |
1.72 |
|
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
MENARA UOB, JALAN RAJA LAUT, LEVEL 11, 50350 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
271809 |
5,775,000.00 |
1.48 |
|
SUEZ ASIA HOLDINGS PTE. LTD. |
24 RAFFLES PLACE, #25-03A CLIFFORD CENTRE, 048621, SINGAPORE. |
199503512 |
5,600,000.00 |
1.43 |
|
MS. LIESJE MANDAGI @ MARIA BINTI ABDULLAH,DATUK HAJJAH |
44, JALAN PERMAI, ROBSON HEIGHTS, 50460 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
320202-71-5104 |
5,000,000.00 |
1.28 |
|
CJR HOLDINGS SDN. BHD. |
113 JALAN BUKIT PANTAI, BANGSAR, 59100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
458219 |
3,360,000.00 |
0.86 |
|
KLANG NOMINEES SDN. BHD. |
72B, LEBUH BERINGIN, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
9494 |
2,379,999.00 |
0.61 |
|
ACEVEST BUILDERS SDN. BHD. |
MALAYSIA |
867457 |
2,100,000.00 |
0.54 |
|
MR. LEONG WAI LEONG |
16, HALA HOCK LEE, IPOH GARDEN, 31400 IPOH, PERAK, MALAYSIA. |
731201-08-5215 |
2,075,919.00 |
0.53 |
|
MS. LEE SHU TING + |
9 LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
841023-08-6684 |
2,000,000.00 |
0.51 |
|
BI NOMINEES (TEMPATAN) SDN. BHD. |
MENARA SME BANK, JALAN SULTAN ISMAIL, ARAS 23, 50774 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
176122 |
1,925,000.00 |
0.49 |
|
TRABINA SAHAM SDN BHD. |
UNIT PENGURUSAN ASOT, SEKSYEN INSOLVENSI, MENARA SSM @ SENTRAL, 7,
JALAN STESEN SENTRAL 5, KL SENTRAL, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
129421 |
1,508,500.00 |
0.39 |
|
HDM CAPITAL SDN. BHD. |
WISMA SRI PINANG, 60, GREEN HALL, LEVEL 8, 10200 PULAU PINANG, PULAU
PINANG, MALAYSIA. |
365940 |
1,400,000.00 |
0.36 |
|
MR. PENG TIANG WOOI |
62, JALAN BU 10/10, BANDAR UTAMA DAMANSARA, 47800 PETALING JAYA,
SELANGOR, MALAYSIA. |
611124-02-5107 |
1,000,000.00 |
0.26 |
|
EIRIK BONDE ASLAKSRUD |
NORDE RINGASEN 23, 3512 HONEFOSS, NORWAY, NORWAY. |
27087055 |
992,758.00 |
0.25 |
|
KOHVEST REALTY SDN. BHD. |
PENTHOUSE, WISMA HUP TAI, 1, LORONG RAJA BOT, 41400 KLANG, SELANGOR,
MALAYSIA. |
189031 |
826,000.00 |
0.21 |
|
P C KOH & SONS SDN. BHD. |
1, (PENTHOUSE), LORONG RAJA BOT, 41400 KLANG, SELANGOR, MALAYSIA. |
185503 |
770,000.00 |
0.20 |
|
PRESIDIO CAPITAL HOLDINGS LIMITED |
50 COLLYER QUAY, #04-05 OUE BAYFRONT, 049321, SINGAPORE. |
448846 |
385,700.00 |
0.10 |
|
WRP TEAM INVESTMENT LTD |
LANDMARK SQUARE, 64 EARTH CLOSE, P.O. BOX 30592, GRAND CAYMAN
KY1-1203, 3RD FLOOR, CAYMAN ISLANDS. |
KY011010 |
339,500.00 |
0.09 |
|
MICHAEL JAMES SCAGLIONE |
8465 WEST WADORA CIRCLE, NW, NORTH CANTON, OHIO 44720 USA, UNITED
STATES. |
210902828 |
204,302.00 |
0.05 |
|
FRANZ REISINGER |
SCHEIBELREITERGASSE, A-1190 VIENNA, AUSTRIA, AUSTRALIA. |
2469773 |
174,465.00 |
0.04 |
|
MS. LIM LAY FONG |
NO 25, JALAN BERAGAN, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
651031-10-5382 |
140,000.00 |
0.04 |
|
REALTI KOH BERSAUDARA SDN. BHD. |
PENTHOUSE, WISMA HUP TAI, NO. 1, LORONG RAJA BOT, 41400 KLANG, SELANGOR,
MALAYSIA. |
70533 |
140,000.00 |
0.04 |
|
MS. SAW PHAIK WAH |
21, JALAN BP 11/3, BANDAR BUKIT PUCHONG 2, 41700 KLANG, SELANGOR,
MALAYSIA. |
450809-07-5006 |
70,000.00 |
0.02 |
|
MR. TAN CHENG LING |
3, JALAN PANDAN INDAH 5/6, PANDAN INDAH, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
640820-01-5407 |
49,000.00 |
0.01 |
|
MR. CHONG KIM CHENG |
21, JALAN KAJANG MULIA 3, TAMAN KAJANG MULIA, 43000 KAJANG, SELANGOR,
MALAYSIA. |
660406-05-5225 |
35,000.00 |
0.01 |
|
MS. LIM QUI MUI |
38, JALAN PUTRA PERMAI 10/2A, PUTRA HEIGHTS, 47650 SUBANG JAYA,
SELANGOR, MALAYSIA. |
600220-05-5484 |
35,000.00 |
0.01 |
|
MR. YIM SENG FATT |
33, JALAN BUKIT MEWAH 16, TAMAN BUKIT MEWAH, 43000 KAJANG, SELANGOR, MALAYSIA. |
630212-06-5313 |
31,500.00 |
0.01 |
|
MR. WONG WEE SOO |
116, KAMPUNG BARU PAROI, 70400 SEREMBAN, NEGERI SEMBILAN, MALAYSIA. |
690916-05-5329 |
28,000.00 |
0.01 |
|
MR. SIOW WEN HANN |
677, JALAN S2 F16, GARDEN HOMES, SEREMBAN TWO, 70300 SEREMBAN, NEGERI
SEMBILAN, MALAYSIA. |
640502-05-5649 |
28,000.00 |
0.01 |
|
MS. JOAN CHEN LI MENG |
NO.195, KAWASAN KUNING, 71700 MANTIN, NEGERI SEMBILAN, MALAYSIA. |
610410-05-5302 |
28,000.00 |
0.01 |
|
MR. GOH KHENG SUI |
PT 22131, JALAN DESA KOLEJ 11, DESA KOLEJ, PUTRA NILAI, 71800 NILAI,
NEGERI SEMBILAN, MALAYSIA. |
670116-10-6193 |
28,000.00 |
0.01 |
|
MS. KOO NYUK CHING |
PT 8188, JALAN BBN 5/4C, DESA JASMIN, BANDAR BARU NILAI, 71800 NILAI, NEGERI
SEMBILAN, MALAYSIA. |
691210-05-5030 |
28,000.00 |
0.01 |
|
MR. MUHAMMAD FEISOL BIN HASSAN |
113, JALAN SETIABISTARI 1, DAMANSARA HEIGHTS, 50490 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
370513-02-5261 |
1.00 |
0.00 |
|
MR. ONG CHIN CHYE |
113, JALAN BUKIT PANTAI, PANTAI HILL, 59100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
370211-07-5271 |
1.00 |
0.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
390,710,810.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
561194 |
MALAYSIA |
WRP ALLIANCE SDN. BHD. |
100.00 |
01/04/2013 |
|
517054 |
MALAYSIA |
GLOBAL B2B2C.COM SDN. BHD. |
100.00 |
01/04/2013 |
|
483995 |
MALAYSIA |
WRP RADIATION PRODUCTS SDN. BHD. |
100.00 |
01/04/2013 |
|
441598 |
MALAYSIA |
WRP HEALTHCARE PRODUCTS SDN. BHD. |
100.00 |
29/03/2013 |
|
112713 |
MALAYSIA |
WRP SPECIALTY PRODUCTS SDN. BHD. |
100.00 |
29/03/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
MS. HAMIDAH BINTI ABDULLAH |
|
Address |
: |
11,JALAN MENGKUANG, OFF JALAN AMPANG, 55000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
451107-03-5282 |
|
Date of Birth |
: |
07/11/1945 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/07/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. YOUNG WONG @ YEO SUAN SAM |
|
Address |
: |
NO. 10, JALAN KAMPAR, OFF JALAN LANDASAN, 41300 KLANG, SELANGOR,
MALAYSIA. |
|
New IC No |
: |
400707-10-5539 |
|
Date of Birth |
: |
07/07/1940 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/11/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
JOHN CHARLES GRUNDY |
|
Address |
: |
15, ADAM DRIVE, 289974, SINGAPORE. |
|
IC / PP No |
: |
099004539 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/11/2009 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. ANIS ASWANI BINTI IBRAHIM |
|
Address |
: |
11,JALAN MENGKUANG, OFF JALAN AMPANG, 55000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
740913-06-5110 |
|
Date of Birth |
: |
13/09/1974 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/11/2009 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. AHMAD ZUL-QARNAIN BIN IBRAHIM |
|
Address |
: |
11,JLN.MENGKUANG, OFF JLN.AMPANG, 55000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
810719-14-5687 |
|
Date of Birth |
: |
19/07/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/11/2009 |
DIRECTOR 6
|
Name Of Subject |
: |
MS. LEE SHU TING |
|
Address |
: |
9 LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
|
New IC No |
: |
841023-08-6684 |
|
Date of Birth |
: |
23/10/1984 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/11/2009 |
DIRECTOR 7
|
Name Of Subject |
: |
MS. TOO SOOI KENG |
|
Address |
: |
NO.9, LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
|
New IC No |
: |
570713-08-6532 |
|
Date of Birth |
: |
13/07/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/11/2009 |
DIRECTOR 8
|
Name Of Subject |
: |
MR. LEE SON HONG |
|
Address |
: |
9 LORONG RAJA DIHILIR, 30350 IPOH, PERAK, MALAYSIA. |
|
New IC No |
: |
570226-08-5145 |
|
Date of Birth |
: |
26/02/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
04/07/2005 |
|
1) |
Name of Subject |
: |
LEE SON HONG |
|
|
Position |
: |
CEO |
|
|
|
|
|
|
2) |
Name of Subject |
: |
PUAN SRI HAMIDAH BT ABDULLAH |
|
|
Position |
: |
CHAIRMAN |
|
|
|
|
|
|
3) |
Name of Subject |
: |
PENG TIANG WOOI |
|
|
Position |
: |
CHIEF FINANCE OFFICER |
|
|
|
|
|
|
4) |
Name of Subject |
: |
CHONG KIM CHENG |
|
|
Position |
: |
FINANCE MANAGER |
|
|
|
|
|
|
5) |
Name of Subject |
: |
GOH CEAN YEW |
|
|
Position |
: |
INTERNAL AUDITOR |
|
|
|
|
|
|
6) |
Name of Subject |
: |
NG SIN CHUAN |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
7) |
Name of Subject |
: |
TECLA ALLAI |
|
|
Position |
: |
TRAINING MANAGER |
|
|
|
|
|
|
8) |
Name of Subject |
: |
MAGESH |
|
|
Position |
: |
SECRETARY |
|
Auditor |
: |
ERNST & YOUNG |
|
Auditor' Address |
: |
MENARA MILENIUM, JALAN DAMANLELA, PUSAT BANDAR DAMANSARA, DAMANSARA
HEIGHTS, LEVEL 23A, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. MOK YING |
|
|
|
|
|
|
|
New IC No |
: |
530314-04-5200 |
|
|
Address |
: |
27,LORONG KEMARIS TIGA, BUKIT BANDARAYA, 59100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. CHAN YOKE YIN |
|
|
IC / PP No |
: |
6900762 |
|
|
New IC No |
: |
621102-08-5888 |
|
|
Address |
: |
78, LINTASAN WAH KEONG SATU, TAMAN WAH KEONG, 31400 IPOH, PERAK,
MALAYSIA. |
|
|
|
|
|
|
3) |
Company Secretary |
: |
MS. CHIEW CINDY |
|
|
IC / PP No |
: |
A3213527 |
|
|
New IC No |
: |
751009-08-5440 |
|
|
Address |
: |
6, LALUAN MERU INDAH B5, GERBANG MERU INDAH, 30020 IPOH, PERAK,
MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
UNITED OVERSEAS BANK LTD |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/03/1989 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 20,000,000.00 |
Satisfied |
|
2 |
20/03/1989 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 26,640,000.00 |
Satisfied |
|
3 |
20/03/1989 |
N/A |
RAKYAT FIRST MERCHANT BANKERS BERHAD |
MYR 9,000,000.00 |
Satisfied |
|
4 |
06/10/1989 |
N/A |
RAKYAT MERCHANT BANKERS BERHAD |
MYR 18,000,000.00 |
Satisfied |
|
5 |
24/10/1989 |
N/A |
RAKYAT FIRST MERCHANT BANKERS BHD |
MYR 5,000,000.00 |
Satisfied |
|
6 |
24/10/1989 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 26,640,000.00 |
Satisfied |
|
8 |
19/06/1990 |
N/A |
RAKYAT MERCHANT BANKERS BERHAD |
MYR 2.00 |
Satisfied |
|
7 |
23/06/1990 |
N/A |
RAKYAT MERCHANT BANKERS BERHAD |
MYR 7,000,000.00 |
Satisfied |
|
12 |
05/12/1991 |
N/A |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 10,000,000.00 |
Satisfied |
|
9 |
20/12/1991 |
N/A |
STANDARD CHARTERED BANKMALAYSIA BHD |
MYR 7,000,000.00 |
Satisfied |
|
10 |
20/12/1991 |
N/A |
ABN AMRO BANK BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
11 |
20/12/1991 |
N/A |
BANK PERTANIAN MALAYSIA |
MYR 5,000,000.00 |
Satisfied |
|
13 |
02/04/1993 |
N/A |
SILA LIHAT SKRIN KETERANGAN HARTA |
MYR 8,000,000.00 |
Satisfied |
|
14 |
02/04/1993 |
N/A |
RAKYAT MERCHANT BANKERS BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
15 |
02/04/1993 |
N/A |
SILA SKRIN KETERANGAN HARTA |
MYR 4,000,000.00 |
Satisfied |
|
16 |
24/01/1994 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 9,000,000.00 |
Satisfied |
|
17 |
29/10/1996 |
N/A |
BSN MERCHANT BANK BERHAD |
MYR 10,000,000.00 |
Satisfied |
|
20 |
29/10/1996 |
N/A |
BANK ISLAM MALAYSIA BERHAD |
MYR 16,979,487.00 |
Satisfied |
|
18 |
05/11/1996 |
N/A |
BSN MERCHANT BANK BHDAS TRUSTEE FOR THE LENDER |
MYR 6,000,000.00 |
Satisfied |
|
19 |
06/11/1996 |
N/A |
BSN MERCHANT BANK BHD |
MYR 10,000,000.00 |
Satisfied |
|
21 |
08/07/1997 |
N/A |
EXPORTIMPORT BANK OF MALAYSIA BERHAD |
MYR 14,000,000.00 |
Satisfied |
|
22 |
27/08/1998 |
N/A |
STANDARD CHARTERED BANK OFFSHORE LABUAN |
MYR 2.00 |
Satisfied |
|
23 |
27/08/1998 |
FOREIGN CURRENCY |
UNITED OVERSEAS BANK LIMITED, LABUAN BRANCH |
N/A |
Unsatisfied |
|
24 |
27/08/1998 |
FOREIGN CURRENCY |
UNITED OVERSEAS BANK LIMITED, LABUAN BRANCH |
N/A |
Unsatisfied |
|
25 |
12/10/1998 |
FOREIGN CURRENCY |
UNITED OVERSEAS BANK LIMITED, LABUAN BRANCH |
N/A |
Unsatisfied |
|
26 |
25/02/2000 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 114,200,000.00 |
Satisfied |
|
27 |
11/05/2000 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 106,000,000.00 |
Satisfied |
|
28 |
27/10/2000 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 85,000,000.00 |
Unsatisfied |
|
29 |
27/10/2000 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 85,000,000.00 |
Unsatisfied |
|
30 |
30/06/2003 |
OPEN CHARGE |
UNITED OVERSEAS BANK LIMITED AS AGENT AND TRUSTEE |
N/A |
Unsatisfied |
|
31 |
07/07/2003 |
OPEN CHARGE |
EXPORTIMPORT BANK MALAYSIA BERHAD |
N/A |
Unsatisfied |
|
32 |
22/04/2004 |
OPEN CHARGE |
UNITED OVERSEAS BANK LIMITED LABUAN BRANCH AS AGEN |
N/A |
Unsatisfied |
|
33 |
07/07/2004 |
OPEN CHARGE |
EXPORTIMPORT BANK MALAYSIA BERHAD |
N/A |
Unsatisfied |
|
34 |
09/08/2011 |
DEED OF FLOATING CHARGE |
LH ASIAN TRADE FINANCE FUND LTD. |
N/A |
Unsatisfied |
|
35 |
22/09/2011 |
DEBENTURE |
HSBC BANK MALAYSIA BHD |
N/A |
Unsatisfied |
|
36 |
22/09/2011 |
FINANCING GENERAL AGREEMENT |
HSBC BANK MALAYSIA BHD |
N/A |
Unsatisfied |
|
37 |
22/09/2011 |
FIRST LEGAL CHARGE |
HSBC BANK MALAYSIA BHD |
N/A |
Unsatisfied |
* A check has been conducted in our databank against the SC whether the subject
has been involved in any litigation.
|
Code No |
: |
22 |
Case No |
: |
1033 |
||||||||||||||
|
Year |
: |
2004 |
Place |
: |
KUALA LUMPUR |
||||||||||||||
|
Court |
: |
HIGH COURT |
|
|
|
||||||||||||||
|
Solicitor |
: |
KIRU & YONG |
|
|
|
||||||||||||||
|
Solicitor Tel. No. |
: |
03-77252238 |
|
|
|
||||||||||||||
|
Plaintiff |
: |
ATLANTIC FAR EAST SDN BHD |
|
|
|
||||||||||||||
|
Defendants |
: |
|
|
|
|
||||||||||||||
|
Amount Claimed |
: |
249,853.00 |
|
|
|
|
|
|
|
|
|||||||||
|
Nature of Claim |
: |
GDS SOLD & DELIVERED |
|
|
|
|
|
|
|
|
|||||||||
|
Remark |
: |
LIST |
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Code No |
: |
72 |
Case No |
: |
3367 |
|
|
|
|
|
|||||||||
|
Year |
: |
2006 |
Place |
: |
KUALA LUMPUR |
|
|
|
|
|
|||||||||
|
Court |
: |
MAGISTRATE COURT |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor |
: |
CHEONG WAI MENG & VAN BUERLE |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor Tel. No. |
: |
2448831/2442991/2447991 |
|
|
|
|
|
|
|
|
|||||||||
|
Plaintiff |
: |
SIGMA INDUSTRIAL SUPPLIES SDN BHD |
|
|
|
||||||||||||||
|
Defendants |
: |
|
|
|
|
||||||||||||||
|
Amount Claimed |
: |
11,180.00 |
|
|
|
|
|
|
|
|
|||||||||
|
Nature of Claim |
: |
GDS SOLD & DELIVERED |
|
|
|
|
|
|
|
|
|||||||||
|
Remark |
: |
LIST |
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Code No |
: |
22 |
Case No |
: |
1053 |
|
|
|
|
|
|||||||||
|
Year |
: |
2006 |
Place |
: |
KUALA LUMPUR |
|
|
|
|
|
|||||||||
|
Court No |
: |
D3 |
|
|
|
|
|
|
|
|
|||||||||
|
Court |
: |
HIGH COURT |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor |
: |
TEE & PARTNERS |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor Tel. No. |
: |
03-6203581 |
|
|
|
|
|
|
|
|
|||||||||
|
Plaintiff |
: |
TITI LATEX SDN BHD |
|
|
|
||||||||||||||
|
Defendants |
: |
|
|
|
|
||||||||||||||
|
Amount Claimed |
: |
4,150,000.00 |
|
|
|
|
|
|
|
|
|||||||||
|
Nature of Claim |
: |
GDS SOLD & DELIVERED |
|
|
|
|
|
|
|
|
|||||||||
|
Remark |
: |
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Code No |
: |
24 |
Case No |
: |
205 |
|
|
|
|
|
|||||||||
|
Year |
: |
2007 |
Place |
: |
KUALA LUMPUR |
|
|
|
|
|
|||||||||
|
Court No |
: |
D2 |
|
|
|
|
|
|
|
|
|||||||||
|
Court |
: |
HIGH COURT |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor |
: |
TEE & PARTNERS |
|
|
|
|
|
|
|
|
|||||||||
|
Solicitor Tel. No. |
: |
03-6203581 |
|
|
|
|
|
|
|
|
|||||||||
|
Plaintiff |
: |
TITI LATEX SDN BHD |
|
|
|
||||||||||||||
|
Defendants |
: |
|
|
|
|
||||||||||||||
|
Amount Claimed |
: |
0.00 |
|
|
|
|
|
|
|
|
|||||||||
|
Nature of Claim |
: |
AMT N0T STATED |
|
|
|
|
|
|
|
|
|||||||||
|
Remark |
: |
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
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 |
Percentage |
: |
60% |
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Import Countries |
: |
TAIWAN,THAILAND,GERMANY,UNITED STATES |
|||
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 |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
UNITED STATES |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
LETTER OF CREDIT (LC) |
|||
|
Type of Customer |
: |
MEDICAL INDUSTRIES,FOOD MANUFACTURERS,HOSPITALS |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Competitor(s) |
: |
ADVENTA BHD
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN RUBBER GLOVE MANUFACTURERS ASSOCIATION (MRGMA) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
|
|
|
|
|
|
|
Ownership of premises |
: |
OWNED
|
|
|
Production Line |
: |
26
|
|
|
Production Capacity |
: |
APPROXIMATELY 120 MILLION PIECES OF GLOVES PER MONTH
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2012 |
2011 |
2010 |
2009 |
|
|
|
|
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
3,000 |
3,000 |
3,200 |
2,700 |
3,000 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) manufacturing and trading
of rubber gloves.
The SC is the world's leading manufacturer of premium quality private brand
medical and contamination control glove products.
The SC has developed and expanded the powder free product range of various
types of gloves, which is one of the most comprehensive and complete range in
the market.
The SC's products range includes as follows:
* Dental procedure gloves
* Personal protective gloves
* Radiation protective gloves
The SC produces its gloves in various types of sizes, weights, thickness,
length and tensile strength.
The products are made from natural rubber and synthetic rubber.
The SC equipped with highly automated production capabilities to ensure the
production of high quality products that meets clients specifications.
No projects found in our databank
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
3 8706 148 |
|
Current Telephone Number |
: |
03-87061486 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
LOT 1, JALAN 3, KAWASAN PERUSAHAAN BANDAR BARU SALAK TINGGL |
|
Current Address |
: |
LOT 1, JALAN 3, KAWASAN PERUSAHAAN BANDAR BARU SALAK TINGGI, 43900
SEPANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 24th June 2013, we contacted one of the SC's staff from Admin Department.
She provided some information of the SC.
The address provided is incomplete.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.85% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.20% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.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 |
: |
Acceptable |
[ |
59 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
The SC kept adequate stocks to meet its normal business transactions
without incurring excessive storage costs. The favourable debtors' days could
be due to the good credit control measures implemented by the SC. 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 |
: |
Unfavourable |
[ |
0.50 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.99 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the SC may be facing working capital
deficiency. If the SC cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
13.51 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.28 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 : |
|
|
|
|
|
|
|
Although the turnover was erratic, the SC had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. Due to its weak liquidity position,
the SC will be faced with problems in meeting all its short term obligations
if no short term loan is obtained or additional capital injected into the SC.
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 : FAIR |
||||||
|
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 |
|
|
22192 : Manufacture of rubber gloves |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
The Manufacturing sector is one of the important sectors to the growth
of the Malaysian economy. According to Ministry of Finance, the manufacturing
sector is expected to grow 4.9% in year 2013. Export oriented-industries are
expected to benefit from the higher growth of global trade, while
domesticoriented industries expand in line with the better consumer sentiment
and business confidence. The resource-based industries are envisaged to grow
steadily attributed to improved demand for petroleum, chemical, rubber and
plastic products. With better job prospects and higher disposable income, the
transportation equipment subsector, in particular, the passenger car segment
is expected to expand. |
|
|
Value-added of the manufacturing sector expanded 5% during the first
half of 2012. Output of the sector rose 5.2% during the first sevenmonths of
2012 in line with the increase in sales value of manufactured products by
6.5% to RM363.1 billion. Output from domesticoriented industries continued to
expand 8.6% while export-oriented industries grew 4.1%. |
|
|
According to the Department of Statistics, the sales value of the
Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion)
to record RM52.4 billion as compared to RM48.8 billion reported in year 2012.
Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2
billion) as compared with the preceding month. The sales value in December
2012 has been revised positive 7.5% year-on-year to record RM52.6 billion. |
|
|
Output of rubber products increased 3.6% in the first seven month of 2012
mainly supported by continuous demand for rubber gloves. Output of rubber
gloves grew 5.9% on account of the expansion in the global healthcare
industry and wider usage of gloves in other sectors. Similarly, output of
catheters, especially for use in medical appliances, also registered a strong
growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced
10.9% in tandem with slowing external demand from the automotive industry,
especially China. |
|
|
Meanwhile, production of wood and wood products rebounded 4.6% largely
supported by higher demand for wooden and cane furniture (33.5%). The
positive performance was attributed to vibrant higher demand from major
export destinations such as China and the United States (US) for
Malaysian-made furniture. Demand from China accelerated further following the
country's rising income level and the implementation of zero import duty on
Malaysian made-furniture. Malaysia government has growth target of 6.5% for
wood based furniture where estimated to reach up to RM53 billion by year
2020.The government providing pioneer status for tax exemption and investment
tax allowance for this industry as a boost up step towards produce good
quality product and to meet the world demand. |
|
|
The output of chemicals and chemical products rose 9.9% in the first
seven month of year 2012 on account of increasing demand for plastic products
(11.8%) and basic chemicals (11.1%). External demand for plastic packaging
materials surged during the early part of the year 2012, particularly from
Japan and Thailand, as manufacturers resumed operations, which were
interrupted by natural calamities and power outages. Chemical production are
expected to show 7.5 % in year 2013 inline with Malaysia as one of the
largest contributor in world Chemicals & Chemical industries. |
|
|
Tax and non-tax incentives provided by goverment encourage
manufacturers to move up the value chain of manufacturing industry. The new
growth initiatives by goverment in the manufacturing sector such assolar and medial
services can be important drivers of growth apart from helping to diversify
the manufacturing base and contributing to the resilience of the sector. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
Incorporated in 1985, the SC is a Private Limited company, focusing on
manufacturing and trading of rubber gloves. The SC has been in business for
over two decades. It has built up a strong clientele base and good reputation
will enable the SC to further enhance its business in the near term. The SC is
expected to enjoy a stable market shares. Having strong support from its
shareholders has enabled the SC to remain competitive despite the challenging
business environment. 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 established an extensive clientele base in the
market. Besides catering to the local market, the SC has penetrated into other
countries. With the contribution of both local and overseas customers, the SC
is likely to be exposed to lower commercial risk. Hence, we believe that the SC
has better business expansion opportunities in the future. Being a large
entity, the SC has a steady workforce of 3,000 personnel to support its
business operations. Its future prospects seem to be fairly good as its
business operations are running relatively stable. 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. 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. However, due to its weak liquidity
position, the SC may face working capital deficiency in meeting its short term
financial obligations if no fresh capital are injected into the SC.
Nevertheless, given a positive net worth standing at MYR 263,399,511, the SC
should be able to maintain its business in the near terms.
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 SC's payment habit is average. With its adequate working capital, the SC
should be able to pay its short term debts.
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
normally.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
WRP ASIA PACIFIC SDN. BHD. |
|
Financial Year
End |
30/06/2011 |
30/06/2010 |
30/06/2009 |
30/06/2008 |
30/06/2007 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
662,919,804 |
491,069,747 |
562,796,770 |
485,116,654 |
483,084,149 |
|
Other Income |
13,528,530 |
5,839,455 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
676,448,334 |
496,909,202 |
562,796,770 |
485,116,654 |
483,084,149 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
43,667,198 |
27,112,758 |
46,905,484 |
2,855,635 |
9,192,565 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
43,667,198 |
27,112,758 |
46,905,484 |
2,855,635 |
9,192,565 |
|
Taxation |
<7,183,355> |
8,544,316 |
<1,195,527> |
8,300,067 |
751,713 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
36,483,843 |
35,657,074 |
45,709,957 |
11,155,702 |
9,944,278 |
|
Minority interests |
- |
730,051 |
<2,146,141> |
454,220 |
1,920,499 |
|
Pre-acquisition profit/(loss) |
- |
6,707,819 |
1,973,374 |
<4,943,381> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
36,483,843 |
43,094,944 |
45,537,190 |
6,666,541 |
11,864,777 |
|
Extraordinary items |
- |
276,773,590 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
36,483,843 |
319,868,534 |
45,537,190 |
6,666,541 |
11,864,777 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
9,272,366 |
<310,596,168> |
<356,133,358> |
<362,799,899> |
<374,664,676> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
9,272,366 |
<310,596,168> |
<356,133,358> |
<362,799,899> |
<374,664,676> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
45,756,209 |
9,272,366 |
<310,596,168> |
<356,133,358> |
<362,799,899> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
45,756,209 |
9,272,366 |
<310,596,168> |
<356,133,358> |
<362,799,899> |
|
|
============= |
============= |
============= |
============= |
============= |
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Bank overdraft |
49,480 |
14,160 |
- |
- |
- |
|
Bankers' acceptance |
513,734 |
310,018 |
- |
- |
- |
|
Hire purchase |
386,914 |
129,098 |
- |
- |
- |
|
Term loan / Borrowing |
1,662,909 |
5,555,129 |
4,500,400 |
4,763,075 |
5,320,719 |
|
Trust receipts |
- |
- |
3,693,332 |
4,124,999 |
4,238,033 |
|
Others |
876,936 |
1,304,917 |
784,605 |
847,214 |
987,115 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,489,973 |
7,313,322 |
8,978,337 |
9,735,288 |
10,545,867 |
|
|
============= |
============= |
============= |
============= |
============= |
|
WRP ASIA PACIFIC SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
291,742,394 |
274,874,644 |
238,835,139 |
250,807,796 |
256,577,369 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Deferred assets |
1,360,708 |
8,542,361 |
1,297,048 |
2,321,635 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,360,708 |
8,542,361 |
1,297,048 |
2,321,635 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
293,103,102 |
283,417,005 |
240,132,187 |
253,129,431 |
256,577,369 |
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
107,330,262 |
70,527,183 |
64,452,333 |
59,519,644 |
58,349,675 |
|
Trade debtors |
53,693,097 |
49,449,481 |
47,817,465 |
64,810,977 |
46,755,404 |
|
Other debtors, deposits & prepayments |
52,270,187 |
37,514,835 |
19,127,617 |
11,623,597 |
9,341,476 |
|
Cash & bank balances |
1,687,597 |
471,052 |
7,839,405 |
3,734,625 |
3,442,176 |
|
Others |
3,555,488 |
3,141,219 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
218,536,631 |
161,103,770 |
139,236,820 |
139,688,843 |
117,888,731 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
511,639,733 |
444,520,775 |
379,369,007 |
392,818,274 |
374,466,100 |
|
|
============= |
============= |
============= |
============= |
============= |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
93,187,810 |
75,327,618 |
58,600,859 |
77,578,631 |
65,597,601 |
|
Other creditors & accruals |
74,706,356 |
71,387,847 |
108,721,754 |
115,877,333 |
94,326,545 |
|
Hire purchase & lease creditors |
1,642,543 |
383,062 |
525,712 |
274,721 |
269,241 |
|
Bank overdraft |
943,061 |
1,254,976 |
- |
3,906,709 |
4,503,458 |
|
Short term borrowings/Term loans |
- |
2,514,370 |
2,166,107 |
4,236,660 |
4,064,984 |
|
Other borrowings |
1,460,804 |
- |
- |
2,188,169 |
2,769,259 |
|
Bill & acceptances payable |
48,559,262 |
42,869,904 |
28,457,645 |
68,946,770 |
63,865,989 |
|
Amounts owing to director |
- |
- |
8,469,172 |
- |
8,720,000 |
|
Provision for taxation |
- |
- |
565,706 |
584,031 |
634,792 |
|
Other liabilities |
- |
- |
5,588,200 |
- |
5,588,200 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
220,499,836 |
193,737,777 |
213,095,155 |
273,593,024 |
250,340,069 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
<1,963,205> |
<32,634,007> |
<73,858,335> |
<133,904,181> |
<132,451,338> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
291,139,897 |
250,782,998 |
166,273,852 |
119,225,250 |
124,126,031 |
|
|
============= |
============= |
============= |
============= |
============= |
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
195,355,405 |
195,355,405 |
385,431,448 |
385,431,448 |
385,431,448 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
195,355,405 |
195,355,405 |
385,431,448 |
385,431,448 |
385,431,448 |
|
RESERVES |
|
|
|
|
|
|
Share premium |
- |
- |
11,969,590 |
11,969,590 |
11,969,590 |
|
Revaluation reserve |
- |
- |
22,115,410 |
22,115,410 |
22,115,410 |
|
Exchange equalisation/fluctuation reserve |
172,487 |
91,390 |
<1,011,068> |
2,375,177 |
797,217 |
|
General reserve |
22,115,410 |
22,115,410 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
45,756,209 |
9,272,366 |
<310,596,168> |
<356,133,358> |
<362,799,899> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
68,044,106 |
31,479,166 |
<277,522,236> |
<319,673,181> |
<327,917,682> |
|
MINORITY INTEREST |
- |
- |
3,567,143 |
1,421,002 |
1,875,222 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
263,399,511 |
226,834,571 |
111,476,355 |
67,179,269 |
59,388,988 |
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Long term loans |
15,401,902 |
15,620,927 |
52,407,214 |
50,974,003 |
57,862,451 |
|
Hire purchase creditors |
4,838,484 |
827,500 |
1,268,078 |
274,422 |
232,832 |
|
Deferred taxation |
- |
- |
- |
- |
5,920,979 |
|
Retirement benefits provision |
- |
- |
1,122,205 |
797,556 |
720,781 |
|
Others |
7,500,000 |
7,500,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
27,740,386 |
23,948,427 |
54,797,497 |
52,045,981 |
64,737,043 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
291,139,897 |
250,782,998 |
166,273,852 |
119,225,250 |
124,126,031 |
|
|
============= |
============= |
============= |
============= |
============= |
|
Contingent Liabilities |
|
13,623,345 |
13,623,345 |
13,623,345 |
13,623,345 |
|
WRP ASIA PACIFIC SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
1,687,597 |
471,052 |
7,839,405 |
3,734,625 |
3,442,176 |
|
Net Liquid Funds |
<47,814,726> |
<43,653,828> |
<20,618,240> |
<69,118,854> |
<64,927,271> |
|
Net Liquid Assets |
<109,293,467> |
<103,161,190> |
<138,310,668> |
<193,423,825> |
<190,801,013> |
|
Net Current Assets/(Liabilities) |
<1,963,205> |
<32,634,007> |
<73,858,335> |
<133,904,181> |
<132,451,338> |
|
Net Tangible Assets |
291,139,897 |
250,782,998 |
166,273,852 |
119,225,250 |
124,126,031 |
|
Net Monetary Assets |
<137,033,853> |
<127,109,617> |
<193,108,165> |
<245,469,806> |
<255,538,056> |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
72,846,056 |
63,470,739 |
84,824,756 |
130,801,454 |
133,568,214 |
|
Total Liabilities |
248,240,222 |
217,686,204 |
267,892,652 |
325,639,005 |
315,077,112 |
|
Total Assets |
511,639,733 |
444,520,775 |
379,369,007 |
392,818,274 |
374,466,100 |
|
Net Assets |
291,139,897 |
250,782,998 |
166,273,852 |
119,225,250 |
124,126,031 |
|
Net Assets Backing |
263,399,511 |
226,834,571 |
111,476,355 |
67,179,269 |
59,388,988 |
|
Shareholders' Funds |
263,399,511 |
226,834,571 |
111,476,355 |
67,179,269 |
59,388,988 |
|
Total Share Capital |
195,355,405 |
195,355,405 |
385,431,448 |
385,431,448 |
385,431,448 |
|
Total Reserves |
68,044,106 |
31,479,166 |
<277,522,236> |
<319,673,181> |
<327,917,682> |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.01 |
0.00 |
0.04 |
0.01 |
0.01 |
|
Liquid Ratio |
0.50 |
0.47 |
0.35 |
0.29 |
0.24 |
|
Current Ratio |
0.99 |
0.83 |
0.65 |
0.51 |
0.47 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
59 |
52 |
42 |
45 |
44 |
|
Debtors Ratio |
30 |
37 |
31 |
49 |
35 |
|
Creditors Ratio |
51 |
56 |
38 |
58 |
50 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.28 |
0.28 |
0.76 |
1.95 |
2.25 |
|
Liabilities Ratio |
0.94 |
0.96 |
2.40 |
4.85 |
5.31 |
|
Times Interest Earned Ratio |
13.51 |
4.71 |
6.22 |
1.29 |
1.87 |
|
Assets Backing Ratio |
1.49 |
1.28 |
0.43 |
0.31 |
0.32 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
6.59 |
5.52 |
8.33 |
0.59 |
1.90 |
|
Net Profit Margin |
5.50 |
8.78 |
8.09 |
1.37 |
2.46 |
|
Return On Net Assets |
16.20 |
13.73 |
33.61 |
10.56 |
15.90 |
|
Return On Capital Employed |
16.05 |
13.64 |
32.80 |
10.09 |
15.09 |
|
Return On Shareholders' Funds/Equity |
13.85 |
19.00 |
40.85 |
9.92 |
19.98 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
13,623,345 |
13,623,345 |
13,623,345 |
13,623,345 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.