MIRA INFORM REPORT

 

 

Report Date :

11.03.2013

 

IDENTIFICATION DETAILS

 

Name :

MASTER HANDICRAFTS (M) SDN. BHD.

 

 

Formerly Known As :

ALPHSTOCKS SDN BHD

 

 

Registered Office :

Suite 1203, 12th Floor, Plaza Permata, No.6 Jalan Kampar, Off Jalan Tun Razak, 50400 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Financials (as on) : 

30.06.2010

 

 

Date of Incorporation :

10.01.1989

 

 

Com. Reg. No.:

177623-W

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Trading of carpets and handicrafts

 

 

No. of Employees :

05

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit : 

MYR 16,000 (USD 5,000)

 

 

Status :

Moderate  

 

 

Payment Behaviour :

Slow

 

 

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

 

 

* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

 

N/A - Not Applicable

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

177623-W

COMPANY NAME

:

MASTER HANDICRAFTS (M) SDN. BHD.

FORMER NAME

:

ALPHSTOCKS SDN BHD (04/11/1993)

INCORPORATION DATE

:

10/01/1989

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

SUITE 1203, 12TH FLOOR, PLAZA PERMATA, NO.6 JALAN KAMPAR, OFF JALAN TUN RAZAK, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

31, PERSIARAN SEGAMBUT TENGAH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

TEL.NO.

:

03-26946243

FAX.NO.

:

N/A

CONTACT PERSON

:

MOHAMAD IBRAHEEM ( DIRECTOR )

 

 

 

INDUSTRY CODE

:

46491

PRINCIPAL ACTIVITY

:

TRADING OF CARPETS AND HANDICRAFTS

AUTHORISED CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO 
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO 
ORDINARY SHARES 1,000,000 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 1,717,166 [2010]

NET WORTH

:

MYR 825,378 [2010]

 

 

 

STAFF STRENGTH

:

5 [2013]

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

PROPOSED CREDIT LIMIT

:

MYR 16,000 (USD 5,000)

 

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 carpets and handicrafts.

 

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. SYED AZMIN BIN MOHD NURSIN @ SYED NOR

2 JALAN 33/70A, DESA SRI HARTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

631028-02-5391

579,999.00

58.00

MOHAMAD IBRAHEEM +

BLK 22-4-6,DESA VIEW TOWERS, TAMAN MELAWATI, 53200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

F8704747

370,000.00

37.00

FAHAD ALI

BLOCK 22-4-6,DESA VIEW TOWERS, JLN 1/4A OFF JLN GENTING KLANG, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

G9996837

50,000.00

5.00

MR. SYED ANWAR AL-BANA BIN SYED NOOR

37-12-1, SRI PENARA, JALAN MEDANG SERAI, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

471012-02-5573

1.00

0.00

 

 

 

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

------

 

 

 

1,000,000.00

100.00

 

 

 

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MS. NOR MAWAR @ NOR MAWAN BINTI ISMAIL

Address

:

171-4B, P'PURI WISMA AWAL, JALAN ABDUL MANAN NORDIN, KAMPUNG BARU, 50300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

630617-10-5264

Date of Birth

:

17/06/1963

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

02/02/2000

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MS. SITI RAHIMAH BINTI MOHD ISA

Address

:

BLOCK 22-4-6, DESA VIEW TOWERS, JALAN 1/4A, OFF JALAN GENTING KLANG, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

New IC No

:

580217-08-5708

Date of Birth

:

17/02/1958

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

26/07/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

MOHAMAD IBRAHEEM

Address

:

BLK 22-4-6,DESA VIEW TOWERS, TAMAN MELAWATI, 53200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

F8704747

 

 

 

 

 

 

 

 

 

 

 

 

Date of Appointment

:

24/01/1996

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

MOHAMAD IBRAHEEM

 

Position

:

DIRECTOR

   

                                

 

AUDITOR


No Auditor found in our databank 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. SUBLI @ ADLIN BINTI SABULI

 

 

 

 

 

New IC No

:

630609-01-5090

 

Address

:

14, JALAN 2/9, DATARAN TEMPLER, BANDAR BARU SELAYANG, 68100 BATU CAVES, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank. 

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

:

30 - 60 DAYS

 

 

 

 

 

 

Payment Mode

:

CASH

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

CARPETS AND HANDICRAFTS

 

 

 

 

 

Total Number of Employees:

YEAR

2013

 

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

5

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) trading of carpets and handicrafts. 

The SC sells wide range of carpets.

The SC 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

:

03-26946243

Match

:

N/A

 

 

 

Address Provided by Client

:

31, PERSIARAN SEGAMBUT TENGAH, 51200, KUALA LUMPUR

Current Address

:

31, PERSIARAN SEGAMBUT TENGAH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Match

:

YES

 

 

 

Latest Financial Accounts

:

NO

 

Other Investigations

we contacted one of the staff from the SC and she provided some information on the SC.

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

46491 : Wholesale of household furniture

 

 

INDUSTRY :

FURNITURE & FIXTURES

 

 

 


Malaysia accounted as 10th largest furniture exporter in the world where exports around 80% of total poroduction. Government target growth of 6.5% where it estimated to reach RM53 billion by 2020. For 2012, a boom expected with more orders coming from emerging markets, especially from nortern Africa and India.


According The Malaysian Furniture Entrepreneurs Association (MFEA), export sales of Malaysian made furniture products expected to increase between 3% and 5% to about RM8billion end of 2012 from RM7.67billion in 2011. At the first half 2012, Malaysia's total furniture export reached RM3.16 billion, or a 10.3% increase compared with first half 2011.


In April 2012, rubber-wood prices per tonne hovers between RM1,800 to RM2,000, compared to RM1,500 to RM1,800 per tonne in November 2011. At January 2012, US purchase Malaysian made furniture products at the value of RM163million compared with RM158.8million in January 2011, an increase of about 3%. Eventhough, Malaysia External Trade Corporation (MATRADE) reported In January 2012, where Malaysia's furniture export total sales came down by 14.7% to RM571million in January 2012 from RM670.6million in January 2011 due to the shorter working days in January 2012 and also less orders from key customers such as Japan and Singapore. Japan imported about RM64.2million worth of furniture products from Malaysia in January 2012, compared to RM80.8million in January 2011, down by 20.6%.


Under the the National Timber Industry Policy (MTIP), the government has targeted RM16 billion furniture exports by 2020. The value of Malaysian furniture exports represented 3% of total world exports. Demand for Malaysian furniture increasing due to rising afflunce and sophistication in customer expectation. Malaysia furniture stand with its original design as well its good work ethics in world furniture market.


The furniture industry is highly export oriented with over 90% of its production are destined for overseas market which accounted 3% value of global exports.The furniture industry's adoption of high technology production manufacturing capabilities coupled with greater emphasis on design, market expansion and aggressive promotional efforts, the Malaysian furniture industry has the potential to increase exports for a bigger global market share.

 

 

OVERALL INDUSTRY OUTLOOK : Marginal Growth

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 1989, the SC is a Private Limited company, focusing on trading of carpets and handicrafts. The SC has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the SC to further enhance its business in the near term. The SC is expected to enjoy a stable market shares. With an adequate share capital, the SC has the potential of expanding its business in future.


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. 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. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


No latest financial accounts were filed with the Registry office during our inspection. Therefore, our comment on the SC's overall financial performance are restricted thereto.


The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the SC's future performance is very much depend on its marketing strategies in order to retain its position in the market.


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)

MASTER HANDICRAFTS (M) SDN. BHD.

 

Financial Year End

30/06/2010

30/06/2009

30/06/2008

30/06/2007

30/06/2006

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

1,717,166

1,731,854

1,807,666

1,846,819

1,722,712

 

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

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

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

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

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

Total Turnover

1,717,166

1,731,854

1,807,666

1,846,819

1,722,712

 

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

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

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

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

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

 

 

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

21,709

24,149

27,392

26,690

15,376

 

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

21,709

24,149

27,392

26,690

15,376

 

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

21,709

24,149

27,392

26,690

15,376

 

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

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

 

 

As previously reported

<196,331>

<220,480>

<247,872>

<274,562>

<289,938>

 

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

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

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

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

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

As restated

<196,331>

<220,480>

<247,872>

<274,562>

<289,938>

 

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

<174,622>

<196,331>

<220,480>

<247,872>

<274,562>

 

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

<174,622>

<196,331>

<220,480>

<247,872>

<274,562>

 

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

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

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

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

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

 

 

 

 

 

 

 

 

 

BALANCE SHEET

 

 

MASTER HANDICRAFTS (M) SDN. BHD.

 

ASSETS EMPLOYED:

 

 

 

 

 

FIXED ASSETS

28,205

28,061

5,088

7,289

9,490

 

 

 

 

 

 

 

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

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

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

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

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

TOTAL LONG TERM ASSETS

28,205

28,061

5,088

7,289

9,490

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

TOTAL CURRENT ASSETS

5,140,346

5,190,348

3,800,503

3,754,421

3,189,175

 

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

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

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

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

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

TOTAL ASSET

5,168,551

5,218,409

3,805,591

3,761,710

3,198,665

 

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

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

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

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

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

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

TOTAL CURRENT LIABILITIES

4,343,173

4,414,740

3,526,071

3,509,582

2,973,227

 

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

797,173

775,608

274,432

244,839

215,948

 

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

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

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

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

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

TOTAL NET ASSETS

825,378

803,669

279,520

252,128

225,438

 

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

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

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

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

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

 

 

 

 

 

 

SHARE CAPITAL

 

 

 

 

 

Ordinary share capital

1,000,000

1,000,000

500,000

500,000

500,000

 

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

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

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

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

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

TOTAL SHARE CAPITAL

1,000,000

1,000,000

500,000

500,000

500,000

 

 

 

 

 

 

RESERVES

 

 

 

 

 

Retained profit/(loss) carried forward

<174,622>

<196,331>

<220,480>

<247,872>

<274,562>

 

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

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

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

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

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

TOTAL RESERVES

<174,622>

<196,331>

<220,480>

<247,872>

<274,562>

 

 

 

 

 

 

 

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

825,378

803,669

279,520

252,128

225,438

 

 

 

 

 

 

 

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

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

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

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

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

 

825,378

803,669

279,520

252,128

225,438

 

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

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

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

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

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

 

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

MASTER HANDICRAFTS (M) SDN. BHD.

 

TYPES OF FUNDS

 

 

 

 

 

Net Liquid Assets

797,173

775,608

274,432

244,839

215,948

Net Current Assets/(Liabilities)

797,173

775,608

274,432

244,839

215,948

Net Tangible Assets

825,378

803,669

279,520

252,128

225,438

Net Monetary Assets

797,173

775,608

274,432

244,839

215,948

 

 

 

 

 

 

BALANCE SHEET ITEMS

 

 

 

 

 

Total Liabilities

4,343,173

4,414,740

3,526,071

3,509,582

2,973,227

Total Assets

5,168,551

5,218,409

3,805,591

3,761,710

3,198,665

Net Assets

825,378

803,669

279,520

252,128

225,438

Net Assets Backing

825,378

803,669

279,520

252,128

225,438

Shareholders' Funds

825,378

803,669

279,520

252,128

225,438

Total Share Capital

1,000,000

1,000,000

500,000

500,000

500,000

Total Reserves

<174,622>

<196,331>

<220,480>

<247,872>

<274,562>

 

 

 

 

 

 

LIQUIDITY (Times)

 

 

 

 

 

Current Ratio

1.18

1.18

1.08

1.07

1.07

 

 

 

 

 

 

SOLVENCY RATIOS (Times)

 

 

 

 

 

Liabilities Ratio

5.26

5.49

12.61

13.92

13.19

Assets Backing Ratio

0.83

0.80

0.56

0.50

0.45

 

 

 

 

 

 

PERFORMANCE RATIO (%)

 

 

 

 

 

Operating Profit Margin

1.26

1.39

1.52

1.45

0.89

Net Profit Margin

1.26

1.39

1.52

1.45

0.89

Return On Net Assets

2.63

3.00

9.80

10.59

6.82

Return On Capital Employed

2.63

3.00

9.80

10.59

6.82

Return On Shareholders' Funds/Equity

2.63

3.00

9.80

10.59

6.82

 

 

 

 

 

 



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.40

UK Pound

1

Rs.81.57

Euro

1

Rs.71.24

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

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.