|
EXECUTIVE SUMMARY
|
REGISTRATION
NO.
|
:
|
638694-V
|
|
COMPANY NAME
|
:
|
BP HEYAP
LEYONG SDN. BHD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
05/01/2004
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
19A,JLN
PENJAJA 3, KIM'S PARK BUSINESS CENTRE, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
BUSINESS
ADDRESS
|
:
|
26-1, JALAN
SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
07-4341234
|
|
FAX.NO.
|
:
|
07-4316227
|
|
CONTACT PERSON
|
:
|
CHOO YING HWA
( MANAGING DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46329
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
FOOD AND SUNDRY GOODS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR 500,000.00
DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 300,000.00
DIVIDED INTO
ORDINARY SHARES 300,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 10,221,309
[2011]
|
|
NET WORTH
|
:
|
MYR 2,238,547
[2011]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
5 [2013]
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER
CHECK
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
STRONG
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
MODERATE
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY
OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY / BACKGROUND
The SC is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As
a private limited company, the SC must have at least two directors. A private
limited company is a separate legal entity from its shareholders. As a
separate legal entity, the SC is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the SC is
insolvent. The SC is governed by the Companies Act, 1965 and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The SC is principally engaged in the (as a
/ as an) trading of food and sundry goods.
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. CHOO YING
HWA +
|
NO. 34, JALAN
PERDANA 2/38, TAMAN BUKIT PERDANA 2, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
550617-01-5517
|
180,000.00
|
60.00
|
|
MS. TAN SOCK
KHENG +
|
NO. 34, JALAN
PERDANA 2/38, TAMAN BUKIT PERDANA 2, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
550614-01-5968
|
90,000.00
|
30.00
|
|
MR. CHUA BOON
HEAN +
|
D-9 JALAN
PANTAI, 83000 BATU PAHAT JOHOR, MALAYSIA.
|
760827-01-7217
|
30,000.00
|
10.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
300,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of
Subject
|
:
|
MR. CHUA BOON
HEAN
|
|
Address
|
:
|
D-9 JALAN
PANTAI, 83000 BATU PAHAT JOHOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
760827-01-7217
|
|
Date of Birth
|
:
|
27/08/1976
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
05/01/2004
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
MS. TAN SOCK
KHENG
|
|
Address
|
:
|
NO. 34, JALAN
PERDANA 2/38, TAMAN BUKIT PERDANA 2, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
550614-01-5968
|
|
Date of Birth
|
:
|
14/06/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
05/01/2004
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of
Subject
|
:
|
MR. CHOO YING
HWA
|
|
Address
|
:
|
NO. 34, JALAN
PERDANA 2/38, TAMAN BUKIT PERDANA 2, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
550617-01-5517
|
|
Date of Birth
|
:
|
17/06/1955
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
05/01/2003
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of
Subject
|
:
|
CHOO YING HWA
|
|
|
Position
|
:
|
MANAGING
DIRECTOR
|
AUDITOR
|
Auditor
|
:
|
SU SIN &
CO
|
|
Auditor'
Address
|
:
|
38A-1, JALAN
ORCHARDS HEIGHT 1, TAMAN ORCHARD HEIGHTS, 83000 BATU PAHAT, JOHOR,
MALAYSIA.
|
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1)
|
Company
Secretary
|
:
|
MR. TAN ENG
HOCK
|
|
|
|
|
|
|
|
New IC No
|
:
|
661104-01-6065
|
|
|
Address
|
:
|
18, JALAN
TEMBUSU, TAMAN BATU PAHAT, 83000 BATU PAHAT, JOHOR, 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)
ENCUMBRANCE 1
|
Date of
Creation
|
:
|
21/11/2006
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
OCBC BANK
(MALAYSIA) BERHAD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
08/12/2006
|
|
Registered and
Numbered 1 In The Register of Charges
|
ENCUMBRANCE 2
|
Date of
Creation
|
:
|
21/11/2006
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
OCBC BANK
(MALAYSIA) BERHAD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
11/12/2006
|
|
Registered and
Numbered 2 In The Register of Charges
|
ENCUMBRANCE 3
|
Date of
Creation
|
:
|
08/08/2008
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
OCBC BANK
(MALAYSIA) BERHAD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
22/08/2008
|
|
Registered and
Numbered 4 In The Register of Charges
|
ENCUMBRANCE 4
|
Date of
Creation
|
:
|
27/04/2012
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
OCBC BANK
(MALAYSIA) BERHAD
|
|
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
15/05/2012
|
|
Registered and
Numbered 5 In The Register of Charges
|
ENCUMBRANCE 5
|
Date of
Creation
|
:
|
24/10/2012
|
|
Description Of
Charge
|
:
|
|
|
Amount Secured
|
:
|
N/A
|
|
Description Of
Property Affected
|
:
|
|
|
Name &
Address Of Chargee
|
:
|
|
|
|
|
|
|
|
|
|
|
Form 40 Dated
01/11/2012
|
|
Registered and
Numbered 6 In The Register of Charges
|
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
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The SC refused to disclose its suppliers.
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic
Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CASH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Total Number
of Employees:
|
|
YEAR
|
2013
|
2012
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
5
|
5
|
|
|
|
|
|
|
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of food and
sundry goods.
The SC sells sundry good and foodstuff.
The SC however refused to disclose further information on its operation.
PROJECTS
No projects found in our databank
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC
indicated that :
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
07-4341234
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address
Provided by Client
|
:
|
26/1, JALAN
BHAHBANDAR, BAFUPAHAT, JOHOR
|
|
Current
Address
|
:
|
26-1, JALAN
SHAHBANDAR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest
Financial Accounts
|
:
|
YES
|
Other
Investigations
we contacted one of the staff from the SC
and she provided some information on the SC.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Return on
Shareholder Funds
|
:
|
Acceptable
|
[
|
10.01%
|
]
|
|
|
Return on Net
Assets
|
:
|
Acceptable
|
[
|
13.19%
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC's
management had generated acceptable return for its shareholders using its
assets.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
4.12 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The SC was in
good liquidity position with its current liabilities well covered by its
current assets. With its net current assets, the SC should be able to repay
its short term obligations.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Liability
Ratio
|
:
|
Favourable
|
[
|
0.20 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A low
liabilities ratio has minimised the SC's financial risk.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
The SC was in
good liquidity position with its total current liabilities well covered by
its total current assets. With its current net assets, the SC should be
able to repay its short term obligations. The SC has high financial risks.
If its shareholders do not inject more capital into the company or if its
business performance does not improve, its going concern may be in
question.
|
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : STRONG
|
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,
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : Average Growth
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated
in 2004, the SC is a Private Limited company, focusing on trading of food
and sundry goods. Having been in business for 9 years, the SC has
established a remarkable clientele base for itself which has contributed to
its business growth. Presently, the issued and paid up capital of the SC
stands at MYR 300,000.
|
|
Over the years, the SC should have build up its clientele base and received
supports from its regular customers. Investigation revealed that the SC's
interest lies mostly in the local market. Thus, any adverse changes to the
local economy might have a negative impact on the SC's business
performance. Being a small company, the SC's business operation is
supported by 5 employees. Overall, we regard that the SC's management
capability is average.
|
|
As at year ended 2011, the SC has reported total turnover and pre-tax
profit of MYR 10,221,309 and MYR 295,583 respectively. Return on
shareholders' funds of the SC was at an acceptable range which indicated
that the management was efficient in utilising its funds to generate
income. The SC is in good liquidity position with its current liabilities
well covered by it current assets. Hence, it has sufficient working capital
to meet its short term financial obligations. A low liabilities ratio has
minimised the SC's financial risk. Given a positive net worth standing at
MYR 2,238,547, the SC should be able to maintain its business in the near
terms.
|
|
Having a strong assets backing, the SC possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
|
|
The 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. The SC however faces moderate business risk as it
has to compete with many well established players in the same field.
|
|
Due to its strong financial performance and based on our assessment, we
recommend credit be granted to the SC promptly.
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
BP HEYAP
LEYONG SDN. BHD.
|
|
Financial Year
End
|
31/12/2011
|
|
Months
|
12
|
|
Consolidated
Account
|
Company
|
|
Audited
Account
|
YES
|
|
Unqualified
Auditor's Report (Clean Opinion)
|
YES
|
|
Financial Type
|
SUMMARY
|
|
Currency
|
MYR
|
|
|
|
|
TURNOVER
|
10,221,309
|
|
|
----------------
|
|
Total Turnover
|
10,221,309
|
|
|
----------------
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
295,583
|
|
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
295,583
|
|
Taxation
|
<71,534>
|
|
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
224,049
|
|
|
----------------
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
As previously
reported
|
1,714,498
|
|
|
----------------
|
|
As restated
|
1,714,498
|
|
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
1,938,547
|
|
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
1,938,547
|
|
|
=============
|
|
|
|
BALANCE SHEET
|
BP HEYAP
LEYONG SDN. BHD.
|
|
ASSETS
EMPLOYED:
|
|
|
FIXED ASSETS
|
851,228
|
|
|
|
|
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
851,228
|
|
|
|
|
CURRENT ASSETS
|
|
|
TOTAL CURRENT
ASSETS
|
1,833,808
|
|
|
----------------
|
|
TOTAL ASSET
|
2,685,036
|
|
|
=============
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
TOTAL CURRENT
LIABILITIES
|
444,609
|
|
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
1,389,199
|
|
|
----------------
|
|
TOTAL NET
ASSETS
|
2,240,427
|
|
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share
capital
|
300,000
|
|
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
300,000
|
|
|
|
|
RESERVES
|
|
|
Retained
profit/(loss) carried forward
|
1,938,547
|
|
|
----------------
|
|
TOTAL RESERVES
|
1,938,547
|
|
|
|
|
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
2,238,547
|
|
|
|
|
LONG TERM
LIABILITIES
|
|
|
TOTAL LONG
TERM LIABILITIES
|
1,880
|
|
|
----------------
|
|
|
2,240,427
|
|
|
=============
|
|
|
|
FINANCIAL RATIO
|
BP HEYAP
LEYONG SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
Net Liquid
Assets
|
1,389,199
|
|
Net Current
Assets/(Liabilities)
|
1,389,199
|
|
Net Tangible
Assets
|
2,240,427
|
|
Net Monetary
Assets
|
1,387,319
|
|
|
|
|
BALANCE SHEET
ITEMS
|
|
|
Total
Liabilities
|
446,489
|
|
Total Assets
|
2,685,036
|
|
Net Assets
|
2,240,427
|
|
Net Assets
Backing
|
2,238,547
|
|
Shareholders'
Funds
|
2,238,547
|
|
Total Share
Capital
|
300,000
|
|
Total Reserves
|
1,938,547
|
|
|
|
|
LIQUIDITY
(Times)
|
|
|
Current Ratio
|
4.12
|
|
|
|
|
SOLVENCY
RATIOS (Times)
|
|
|
Liabilities
Ratio
|
0.20
|
|
Assets Backing
Ratio
|
7.47
|
|
|
|
|
PERFORMANCE
RATIO (%)
|
|
|
Operating
Profit Margin
|
2.89
|
|
Net Profit
Margin
|
2.19
|
|
Return On Net
Assets
|
13.19
|
|
Return On
Capital Employed
|
13.19
|
|
Return On
Shareholders' Funds/Equity
|
10.01
|
|
|
|
|
|
|