MIRA INFORM REPORT

 

 

Report Date :

11.03.2013

 

IDENTIFICATION DETAILS

 

Name :

HEIWADO SDN. BHD.

 

 

Registered Office :

20-M,LORONG GOPENG, 41400 KLANG, SELANGOR

 

 

Country :

Malaysia

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

03.12.2004

 

 

Com. Reg. No.:

673979-A

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Wholesale & Distributing Of Household & Consumer Product

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Regular

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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. 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 more than 40% of government revenue. The 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

 

EXECUTIVE SUMMARY

 

 

 

REGISTRATION NO.

:

673979-A

COMPANY NAME

:

HEIWADO SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

03/12/2004

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

20-M,LORONG GOPENG, 41400 KLANG, SELANGOR, MALAYSIA.

BUSINESS ADDRESS

:

LOT 218 & 219, 1 1/2 MILE, JALAN PANDAMARAN, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA.

TEL.NO.

:

03-31658302

FAX.NO.

:

03-31687219

CONTACT PERSON

:

LAI SIA LING ( DIRECTOR )

 

 

 

INDUSTRY CODE

:

46329 46493

PRINCIPAL ACTIVITY

:

WHOLESALE & DISTRIBUTING OF HOUSEHOLD & CONSUMER PRODUCT

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

:

MYR 51,211,987 [2010]

NET WORTH

:

MYR 4,658,235 [2010]

 

 

 

STAFF STRENGTH

:

N/A

BANKER (S)

:

MALAYAN BANKING BHD
RHB BANK BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

PROPOSED CREDIT LIMIT

:

MYR 70,000 (USD 22,000)

 

 

 

 

 

 

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) wholesale & distributing of household & consumer product.

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. LAI SIAH YANG +

NO.17,JALAN SUNGAI BERANANG 32/57, SEKSYEN 32,BUKIT RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA.

650505-10-5997

62,500.00

25.00

MR. LAI SIA LING +

33-10,CASA ELITA,JALAN SUNGAI DUA, TAMAN SEPUTEH, 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

620405-10-6469

62,500.00

25.00

MR. LAI SAK COON +

NO.2,JALAN SUNGAI BERANANG 32/57B, SEKSYEN 32,BUKIT RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA.

600728-10-5569

62,500.00

25.00

MR. LAI SIEK CHUAN +

22,LORONG HILIR 8, TELUK PULAI, 41100 KLANG, SELANGOR, MALAYSIA.

630618-10-7229

62,500.00

25.00

 

 

 

---------------

------

 

 

 

250,000.00

100.00

 

 

 

============

=====

+ Also Director

DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

MR. LAI SIAH YANG

Address

:

NO.17,JALAN SUNGAI BERANANG 32/57, SEKSYEN 32,BUKIT RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA.

 

 

 

New IC No

:

650505-10-5997

Date of Birth

:

05/05/1965

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

03/12/2004

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MR. LAI SAK COON

Address

:

NO.2,JALAN SUNGAI BERANANG 32/57B, SEKSYEN 32,BUKIT RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA.

 

 

 

New IC No

:

600728-10-5569

Date of Birth

:

28/07/1960

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

03/12/2004

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

MR. LAI SIA LING

Address

:

33-10,CASA ELITA,JALAN SUNGAI DUA, TAMAN SEPUTEH, 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

620405-10-6469

Date of Birth

:

05/04/1962

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

03/12/2004

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 4

 

Name Of Subject

:

MR. LAI SIEK CHUAN

Address

:

22,LORONG HILIR 8, TELUK PULAI, 41100 KLANG, SELANGOR, MALAYSIA.

 

 

 

New IC No

:

630618-10-7229

Date of Birth

:

18/06/1963

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

03/12/2004

 

 

 

 

 

 

 

 

 

 

 

 




MANAGEMENT

 

 

 

1)

Name of Subject

:

LAI SIA LING

 

Position

:

DIRECTOR

 

 

 

 

 

 

AUDITOR

 

Auditor

:

FOO & ASSOCIATES

Auditor' Address

:

L2-2-8A, PELANGI PROMENADE, JALAN PEKAN BARU 36, 41050 KLANG, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. TEO CHONG HEAN

 

 

 

 

 

New IC No

:

720225-07-5261

 

Address

:

25, AJLAN SETIA IMPIAN, U13/2M, SETIA ALAM, 40170 SHAH ALAM, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

MALAYAN BANKING BHD

 

 

 

 

 

2)

Name

:

RHB BANK 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

:

N/A

Overseas

:

N/A

 

 

 


The SC refused to disclose its suppliers.

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

 

 

 

 

 

 

 

 

 

Credit Term

:

AS AGREED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

CONSUMER PRODUCTS, FOOD PRODUCTS

 

 

 

Ownership of premises

:

LEASED/RENTED

 

Branch

:

NO

Other Information:


The SC is principally engaged in the (as a / as an) wholesale & distributing of household & consumer product.

The SC imports a wide range of groceries, food and household products.

Besides that the SC is sharing the working premises with Econsave Group of Companies.

According to the SC, it has no employees as it is sharing the employees with Econsave and its management is overseen by Directors.

PROJECTS


No projects found in our databank

CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

00603 3166 7219

Current Telephone Number

:

03-31658302

Match

:

NO

 

 

 

Address Provided by Client

:

LOT 218 & 219, 1 1/2 MILES, JALAN PANDAMARAN PORT KLANG SELANGOR DARUL EHSAN 42000

Current Address

:

LOT 218 & 219, 1 1/2 MILE, JALAN PANDAMARAN, 42000 PELABUHAN KLANG, SELANGOR, 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


On 5th March 2013, we contacted one of the SC staff and she provided some information regarding the SC.

The SC refused to disclose its number of employee.



FINANCIAL ANALYSIS

 

 

The SC's latest financial accounts are up to 2010 which is out dated in our opinion. Therefore, our comment on the SC financial performance is restricted thereto.

 

 

 

 

 

 

 

Overall financial condition of the SC : N/A

 

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

46493 : Wholesale of lighting equipment

 

 

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 Exempt Private company, focusing on wholesale & distributing of household & consumer product. Having been in business for more than 5 years, the SC has established a remarkable clientele base for itself which has contributed to its business growth. Presently, paid up capital of the SC stand at RM250,000.


Investigation revealed that the SC concentrates only on the local market. This narrow market segment has placed the SC at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the SC's business performance. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


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 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.


In view of the above, we only recommend credit be proceeded to the SC with guarantee.

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

HEIWADO SDN. BHD.

 

Financial Year End

30/11/2010

30/11/2009

30/11/2008

30/11/2007

30/11/2006

Months

12

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

SUMMARY

SUMMARY

SUMMARY

SUMMARY

SUMMARY

Currency

MYR

MYR

MYR

MYR

MYR

 

 

 

 

 

 

TURNOVER

51,211,987

32,955,035

21,433,768

20,893,059

14,385,763

 

----------------

----------------

----------------

----------------

----------------

Total Turnover

51,211,987

32,955,035

21,433,768

20,893,059

14,385,763

 

----------------

----------------

----------------

----------------

----------------

 

 

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

1,099,888

718,460

2,721,070

2,325,196

1,477,605

 

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,099,888

718,460

2,721,070

2,325,196

1,477,605

Taxation

<230,044>

<204,954>

<686,495>

<592,219>

<375,870>

 

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

869,844

513,506

2,034,575

1,732,977

1,101,735

 

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

 

 

As previously reported

5,538,391

6,534,485

4,499,910

2,766,933

1,665,198

 

----------------

----------------

----------------

----------------

----------------

As restated

5,538,391

6,534,485

4,499,910

2,766,933

1,665,198

 

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

6,408,235

7,047,991

6,534,485

4,499,910

2,766,933

DIVIDENDS - Ordinary (paid & proposed)

<2,000,000>

<1,509,600>

-

-

-

 

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

4,408,235

5,538,391

6,534,485

4,499,910

2,766,933

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

 

BALANCE SHEET

 

HEIWADO SDN. BHD.

 

ASSETS EMPLOYED:

 

 

 

 

 

FIXED ASSETS

124,516

234,827

330,938

423,209

12,455

 

 

 

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

 

 

 

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

0

0

-

-

-

 

 

 

 

 

 

 

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

124,516

234,827

330,938

423,209

12,455

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

TOTAL CURRENT ASSETS

61,087,904

30,927,081

12,345,383

9,287,548

7,162,367

 

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

61,212,420

31,161,908

12,676,321

9,710,757

7,174,822

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

TOTAL CURRENT LIABILITIES

56,527,019

25,346,351

5,864,336

4,960,847

4,157,889

 

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

4,560,885

5,580,730

6,481,047

4,326,701

3,004,478

 

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

4,685,401

5,815,557

6,811,985

4,749,910

3,016,933

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

SHARE CAPITAL

 

 

 

 

 

Ordinary share capital

250,000

250,000

250,000

250,000

250,000

 

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

250,000

250,000

250,000

250,000

250,000

 

 

 

 

 

 

RESERVES

 

 

 

 

 

Retained profit/(loss) carried forward

4,408,235

5,538,391

6,534,485

4,499,910

2,766,933

 

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

4,408,235

5,538,391

6,534,485

4,499,910

2,766,933

 

 

 

 

 

 

 

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

4,658,235

5,788,391

6,784,485

4,749,910

3,016,933

 

 

 

 

 

 

LONG TERM LIABILITIES

 

 

 

 

 

TOTAL LONG TERM LIABILITIES

27,166

27,166

27,500

-

-

 

----------------

----------------

----------------

----------------

----------------

 

4,685,401

5,815,557

6,811,985

4,749,910

3,016,933

 

=============

=============

=============

=============

=============

 

 

 

 

 

 

 

FINANCIAL RATIO

 

HEIWADO SDN. BHD.

 

TYPES OF FUNDS

 

 

 

 

 

Net Liquid Assets

4,560,885

5,580,730

6,481,047

4,326,701

3,004,478

Net Current Assets/(Liabilities)

4,560,885

5,580,730

6,481,047

4,326,701

3,004,478

Net Tangible Assets

4,685,401

5,815,557

6,811,985

4,749,910

3,016,933

Net Monetary Assets

4,533,719

5,553,564

6,453,547

4,326,701

3,004,478

 

 

 

 

 

 

BALANCE SHEET ITEMS

 

 

 

 

 

Total Liabilities

56,554,185

25,373,517

5,891,836

4,960,847

4,157,889

Total Assets

61,212,420

31,161,908

12,676,321

9,710,757

7,174,822

Net Assets

4,685,401

5,815,557

6,811,985

4,749,910

3,016,933

Net Assets Backing

4,658,235

5,788,391

6,784,485

4,749,910

3,016,933

Shareholders' Funds

4,658,235

5,788,391

6,784,485

4,749,910

3,016,933

Total Share Capital

250,000

250,000

250,000

250,000

250,000

Total Reserves

4,408,235

5,538,391

6,534,485

4,499,910

2,766,933

 

 

 

 

 

 

LIQUIDITY (Times)

 

 

 

 

 

Current Ratio

1.08

1.22

2.11

1.87

1.72

 

 

 

 

 

 

SOLVENCY RATIOS (Times)

 

 

 

 

 

Liabilities Ratio

12.14

4.38

0.87

1.04

1.38

Assets Backing Ratio

18.74

23.26

27.25

19.00

12.07

 

 

 

 

 

 

PERFORMANCE RATIO (%)

 

 

 

 

 

Operating Profit Margin

2.15

2.18

12.70

11.13

10.27

Net Profit Margin

1.70

1.56

9.49

8.29

7.66

Return On Net Assets

23.47

12.35

39.95

48.95

48.98

Return On Capital Employed

23.47

12.35

39.95

48.95

48.98

Return On Shareholders' Funds/Equity

18.67

8.87

29.99

36.48

36.52

Dividend Pay Out Ratio (Times)

2.30

2.94

-

-

-

 

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.40

UK Pound

1

Rs.81.56

Euro

1

Rs.71.23

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.