|
* Adopted abbreviations :
|
SC - Subject Company (the company
enquired by you)
|
|
|
|
N/A - Not Applicable
|
|
|
|
EXECUTIVE SUMMARY
|
REGISTRATION NO.
|
:
|
386904-P
|
|
COMPANY NAME
|
:
|
NAM HEONG TRADING SDN BHD
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
10/05/1996
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
8865, JALAN SEMABOK, 75050 MELAKA,
MELAKA, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
8865, JALAN SEMABOK, 75050 MELAKA,
MELAKA, MALAYSIA.
|
|
TEL.NO.
|
:
|
06-2829081
|
|
FAX.NO.
|
:
|
06-2829208
|
|
CONTACT PERSON
|
:
|
TEH ENG GHEE ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46329
|
|
PRINCIPAL ACTIVITY
|
:
|
DISTRIBUTOR OF FOODSTUFFS
|
|
AUTHORISED CAPITAL
|
:
|
MYR 500,000.00 DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR 250,000.00 DIVIDED INTO
ORDINARY SHARES 250,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
50 [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
|
:
|
AVERAGE GROWTH
|
HISTORY
/ BACKGROUND
The SC is an exempt private company which
is allowed to have a minimum of two and a maximum of twenty shareholders and
all the shareholders must be individuals. An exempt company is a type of
private limited company. 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, suing or be sued by other companies.
The SC is governed by the Companies Act, 1965 and must file in its annual
return. The SC need not file in its financial statements but it has to file
in a document duly signed by its director in charge of its finance, the
secretary and its auditor stating that the SC is able to meet all its
obligations as and when they fall due. Although the SC is not required to
file in its financial statements, it also has to prepare its financial
account which must be presented at the Annual General Meeting.
The SC is principally engaged in the (as a
/ as an) distributor of foodstuffs.
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. TEH ENG GHEE +
|
8865,JALAN SEMABOK, 75050 MELAKA, MELAKA,
MALAYSIA.
|
550504-07-5273
|
125,000.00
|
50.00
|
|
MS. TEH SAW ENG +
|
8865,JALAN SEMABOK, 75050 MELAKA, MELAKA,
MALAYSIA.
|
541019-07-5152
|
125,000.00
|
50.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
250,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. TEH ENG GHEE
|
|
Address
|
:
|
8865,JALAN SEMABOK, 75050 MELAKA, MELAKA,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
550504-07-5273
|
|
Date of Birth
|
:
|
04/05/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
10/05/1996
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MS. TEH SAW ENG
|
|
Address
|
:
|
8865,JALAN SEMABOK, 75050 MELAKA, MELAKA,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
541019-07-5152
|
|
Date of Birth
|
:
|
19/10/1954
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
10/05/1996
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TEH ENG GHEE
|
|
|
Position
|
:
|
DIRECTOR
|
AUDITOR
No Auditor found in our databank
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MR. MOHD FAUZ IZWAN BIN JAMIL
|
|
|
|
|
|
|
|
New IC No
|
:
|
791105-10-5807
|
|
|
Address
|
:
|
NO. 924-2 KM 11, KAMPUNG PERNU, 75460
MELAKA, MELAKA, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN BANKING BHD
|
|
|
|
|
|
|
The SC enjoys normal banking routine with
above mentioned banker(s). No adverse record was found during our
investigation.
|
ENCUMBRANCE
(S)
No encumbrance was found in our databank at the time of investigation.
LEGAL
CHECK AGAINST SC
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SC
* We have checked through the SC in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
|
|
SOURCES OF RAW MATERIALS:
|
|
|
Local
|
:
|
YES
|
|
|
Overseas
|
:
|
YES
|
|
|
Import Countries
|
:
|
CHINA,INDIA
|
CLIENTELE
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
INDONESIA
THAILAND
|
|
Credit Term
|
:
|
30 DAYS
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CASH
CHEQUES
|
|
Type of Customer
|
:
|
RETAIL,DEALERS,WALK IN CUSTOMERS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded
|
:
|
DRIED FOODSTUFFS
|
|
|
|
|
|
Total Number of Employees:
|
|
|
YEAR
|
2013
|
2012
|
2011
|
2010
|
2009
|
|
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
COMPANY
|
50
|
50
|
50
|
80
|
45
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) distributor of
foodstuffs.
The SC offers a wide range of foodstuffs including rice, flour, onions, garlics,
chillies, potatoes and other dried foodstuffs.
We were informed that SC only sells its products in large quantities.
It also able to pack the products according to its customers' requirements.
Besides that the SC has a warehouse located at Port Klang to keep stocks.
PROJECTS
No projects found in our databank
CURRENT
INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client
|
:
|
062829081
|
|
Current Telephone Number
|
:
|
06-2829081
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Address Provided by Client
|
:
|
8865, JALAN SEMABOK,75050,MELAKA.
|
|
Current Address
|
:
|
8865, JALAN SEMABOK, 75050 MELAKA,
MELAKA, MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
We have contacted the SC's Accountant and its Company Secretary for the
latest financial accounts. However they have rejected our request in view
of the confidentiality of the documents.
|
|
|
Other Investigations
We contacted one of the staff from the SC and she provided some information
on the SC.
FINANCIAL
ANALYSIS
|
The SC is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for the
information of the public. Therefore, we are not able to comment on the
SC's financial performance.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC :
N/A
|
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic Indicators:
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Population ( Million)
|
27.73
|
28.13
|
28.35
|
28.70
|
29.10
|
|
Gross Domestic Products ( % )
|
4.6
|
<0.5>
|
7.2
|
5.5
|
5.3
|
|
Domestic Demand ( % )
|
6.9
|
2.9
|
6.3
|
4.8
|
7.6
|
|
Private Expenditure ( % )
|
7.1
|
<2.7>
|
8.1
|
7.0
|
8.7
|
|
Consumption ( % )
|
8.4
|
0.7
|
6.7
|
6.3
|
7.1
|
|
Investment ( % )
|
1.5
|
<17.2>
|
17.7
|
16.2
|
15.9
|
|
Public Expenditure ( % )
|
6.5
|
5.2
|
3.8
|
7.6
|
4.7
|
|
Consumption ( % )
|
11.6
|
3.1
|
0.2
|
8.9
|
3.0
|
|
Investment ( % )
|
0.7
|
8.0
|
2.8
|
0.6
|
7.0
|
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million )
|
129,563
|
89,650
|
118,356
|
116,058
|
-
|
|
Government Finance ( MYR Million )
|
<34,462>
|
<28,450>
|
<40,482>
|
<45,511>
|
<43,021>
|
|
Government Finance to GDP / Fiscal
Deficit ( % )
|
<4.8>
|
<4.8>
|
<5.6>
|
<5.4>
|
<4.7>
|
|
Inflation ( % Change in Composite CPI)
|
<3.3>
|
<5.2>
|
5.1
|
3.1
|
-
|
|
Unemployment Rate
|
3.7
|
4.5
|
3.9
|
3.3
|
-
|
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion
)
|
388
|
331
|
329
|
415
|
-
|
|
Average Risk-Weighted Capital Adequacy
Ratio ( % )
|
1.91
|
2.87
|
2.20
|
3.50
|
-
|
|
Average 3 Months of Non-performing Loans
( % )
|
13.24
|
11.08
|
15.30
|
14.80
|
-
|
|
Average Base Lending Rate ( % )
|
6.72
|
5.53
|
6.30
|
6.60
|
-
|
|
Business Loans Disbursed( % )
|
11.6
|
10.5
|
14.7
|
15.3
|
-
|
|
Foreign Investment ( MYR Million )
|
23,261.4
|
22,156.8
|
22,517.9
|
23,546.1
|
-
|
|
Consumer Loans ( % )
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Companies ( No. )
|
41,599
|
41,578
|
44,148
|
-
|
-
|
|
Registration of New Companies ( % )
|
<4.0>
|
<0.1>
|
6.2
|
-
|
-
|
|
Liquidation of Companies ( No. )
|
27,992
|
39,075
|
25,585
|
-
|
-
|
|
Liquidation of Companies ( % )
|
23.7
|
39.6
|
<34.5>
|
-
|
-
|
|
|
|
|
|
|
|
|
Registration of New Business ( No. )
|
269,866
|
312,581
|
271,414
|
-
|
-
|
|
Registration of New Business ( % )
|
-
|
-
|
-
|
-
|
-
|
|
Business Dissolved ( No. )
|
18,885
|
19,345
|
19,738
|
-
|
-
|
|
Business Dissolved ( % )
|
<7.6>
|
2.4
|
2.0
|
-
|
-
|
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit )
|
497.5
|
486.3
|
543.6
|
363.0
|
-
|
|
Cellular Phone Subscribers ( Million )
|
25.1
|
30.1
|
32.8
|
35.3
|
-
|
|
Tourist Arrival ( Million Persons )
|
21.5
|
23.6
|
24.6
|
25.3
|
-
|
|
Hotel Occupancy Rate ( % )
|
68.0
|
58.0
|
63.0
|
51.3
|
-
|
|
|
|
|
|
|
|
|
Credit Cards Spending ( % )
|
17.1
|
12.8
|
14.1
|
15.6
|
-
|
|
Bad Cheque Offenders (No.)
|
34,834
|
36,667
|
33,568
|
27,208
|
-
|
|
Individual Bankruptcy ( No.)
|
13,907
|
16,228
|
18,119
|
16,155
|
-
|
|
Individual Bankruptcy ( % )
|
5.1
|
16.7
|
11.7
|
<10.8>
|
-
|
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ):
|
2008
|
2009
|
2010
|
2011*
|
2012**
|
|
|
|
|
|
|
|
|
Agriculture
|
3.6
|
0.4
|
2.1
|
4.7
|
4.1
|
|
Palm Oil
|
7.0
|
<1.1>
|
<3.4>
|
7.3
|
-
|
|
Rubber
|
<1.1>
|
<19.8>
|
9.9
|
6.4
|
-
|
|
Forestry & Logging
|
<1.5>
|
<5.9>
|
<3.3>
|
<4.7>
|
-
|
|
Fishing
|
4.0
|
5.5
|
5.6
|
2.8
|
-
|
|
Other Agriculture
|
5.9
|
9.0
|
7.9
|
8.5
|
-
|
|
Industry Non-Performing Loans ( MYR
Million )
|
393.0
|
413.7
|
508.4
|
634.1
|
-
|
|
% of Industry Non-Performing Loans
|
<2.0>
|
1.3
|
2.1
|
3.2
|
-
|
|
|
|
|
|
|
|
|
Mining
|
<0.8>
|
<3.8>
|
0.2
|
<2.4>
|
2.5
|
|
Oil & Gas
|
12.7
|
2.1
|
0.5
|
<1.7>
|
-
|
|
Other Mining
|
-
|
-
|
-
|
-
|
-
|
|
Industry Non-performing Loans ( MYR
Million )
|
36.0
|
44.2
|
49.7
|
46.5
|
-
|
|
% of Industry Non-performing Loans
|
0.1
|
0.1
|
0.1
|
0.1
|
-
|
|
|
|
|
|
|
|
|
Manufacturing #
|
1.3
|
<9.4>
|
11.4
|
5.6
|
4.5
|
|
Exported-oriented Industries
|
2.7
|
<19.0>
|
12.1
|
2.8
|
-
|
|
Electrical & Electronics
|
2.4
|
<30.3>
|
28.4
|
<4.9>
|
-
|
|
Rubber Products
|
4.2
|
<10.1>
|
25.3
|
15.4
|
-
|
|
Wood Products
|
<6.0>
|
<24.1>
|
20.1
|
<7.3>
|
-
|
|
Textiles & Apparel
|
1.9
|
<19.5>
|
<0.4>
|
14.8
|
-
|
|
Domestic-oriented Industries
|
9.9
|
<9.8>
|
16.3
|
6.3
|
-
|
|
Food, Beverages & Tobacco
|
9.5
|
0.2
|
3.0
|
4.2
|
-
|
|
Chemical & Chemical Products
|
1.4
|
<7.7>
|
16.2
|
5.6
|
-
|
|
Plastic Products
|
6.5
|
<9.1>
|
2.4
|
3.8
|
-
|
|
Iron & Steel
|
16.8
|
<32.7>
|
29.3
|
2.4
|
-
|
|
Fabricated Metal Products
|
14.7
|
<2.5>
|
14.9
|
25.2
|
-
|
|
Non-metallic Mineral
|
8.3
|
<15.5>
|
20.2
|
16.3
|
-
|
|
Transport Equipment
|
27.1
|
<13.5>
|
36.5
|
<9.4>
|
-
|
|
Paper & Paper Products
|
8.6
|
<5.0>
|
18.7
|
15.6
|
-
|
|
Crude Oil Refineries
|
7.8
|
0.2
|
<11.4>
|
9.3
|
-
|
|
Industry Non-Performing Loans ( MYR
Million )
|
5,729.4
|
6,007.3
|
6,217.5
|
6,537.2
|
-
|
|
% of Industry Non-Performing Loans
|
16.8
|
18.3
|
23.8
|
25.7
|
-
|
|
|
|
|
|
|
|
|
Construction
|
2.1
|
5.8
|
5.1
|
4.4
|
7.0
|
|
Industry Non-Performing Loans ( MYR
Million )
|
4,149.8
|
3,241.8
|
4,038.5
|
3,856.9
|
-
|
|
% of Industry Non-Performing Loans
|
12.2
|
9.9
|
10.7
|
10.2
|
-
|
|
|
|
|
|
|
|
|
Services
|
7.3
|
2.6
|
6.5
|
6.4
|
6.5
|
|
Electric, Gas & Water
|
5.0
|
0.4
|
8.5
|
5.6
|
4.8
|
|
Transport, Storage & Communication
|
7.8
|
1.6
|
7.7
|
6.5
|
7.3
|
|
Wholesale, Retail, Hotel & Restaurant
|
10.0
|
2.8
|
4.7
|
5.2
|
6.9
|
|
Finance, Insurance & Real Estate
|
9.2
|
3.8
|
6.1
|
6.3
|
6.5
|
|
Government Services
|
8.6
|
2.0
|
6.7
|
7.6
|
5.6
|
|
Other Services
|
5.9
|
4.4
|
4.2
|
5.4
|
5.7
|
|
Industry Non-Performing Loans ( MYR
Million )
|
8,281.4
|
6,631.3
|
7,384.6
|
6,825.2
|
-
|
|
% of Industry Non-Performing Loans
|
24.3
|
20.2
|
25.7
|
23.4
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary
|
|
|
|
|
|
|
** Forecast
|
|
|
|
|
|
|
# Based On Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)
|
|
|
|
|
|
|
|
INDUSTRY
ANALYSIS
|
MSIC CODE
|
|
46329 : Wholesale of other foodstuffs
|
|
|
|
|
INDUSTRY :
|
TRADING
|
|
|
|
|
|
|
The wholesale and retail trade sector grew 7.1% in the first half of the year
2011 supported by strong consumer spending amid favourable labour market
conditions and sustained disposable income. This was reflected in the
higher distributive trade index which increased 15.9%, with wholesale and
retail trade indices increasing 19.2% and 7.8%, respectively.
|
|
It is anticipated that the retail industry will grow 6.0 per cent in the
year 2012.
|
|
Malaysia's retail sector for 2011 is expected to grow 6 per cent or RM81.59
billion worth of retail sales, similar to the year 2010, due to concerns of
high oil prices, declining purchasing power and high cost of doing
business. The Middle East and North Africa civil wars have caused the world
oil prices to climb. This has led to further rise in the cost of running
retail businesses, especially in terms of transportation cost. Many
retailers have no choice but to pass the increased cost to end consumers.
At the same time, natural disasters (tsunamis, floods, droughts, snow
storms, tornadoes and earthquakes) that occurred in all parts of the world
has also led to a shortage in the supply of food and raw materials. The
phenomenon has pushed retail prices up.In addition, the continual removal
of government subsidies since 2010 has pushed inflation upwards.
Consequently, rising prices of retail goods contributed to an expectation
of moderate performance.
|
|
During the first seven months of 2011, other consumption indicators such as
imports of consumption goods and credit card spending increased 12.8% and 11.8%,
respectively. Sales of motor vehicles declined 3% on account of supply
chain disruptions following devastating March 2011 earthquake and tsunami
in Japan.
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy.
Major initiatives include increasing the number of large format stores such
as hypermarkets, superstores and departmental stores are carried out to
boost the economy.
|
|
Meanwhile, the Government has introduced the Retail Shop Transformation
(TUKAR) programme. Under this programme, selected large format retailers
will assist small retailers to improve their premises and layout which
include attractive product display shelves, enhanced lighting and point-of-sales
system to manage product inventory,
|
|
|
|
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OVERALL INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1996, the SC is a Exempt Private company, focusing on distributor
of foodstuffs. 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.
Presently, issued and paid up capital of the SC stand at RM250,000.
|
|
Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the SC to further
enhance its business in the near term. The SC is operating on a medium
scale and it has approximately 50 employees in its business operations.
Overall, we regard that the SC's management capability is average. This
indicates that the SC has greater potential to improve its business
performance and raising income for the SC.
|
|
As the SC is registered as an Exempt Private company, it is not required to
file financial statements for public review. As such, we are unable to
ascertain its present financial health.
|
|
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.
|
|
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.
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In view of the above, we only recommend credit be proceeded to the SC with
guarantee.
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|