MIRA INFORM REPORT
|
Report Date : |
23.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
LEA INDAH ENTERPRISE |
|
|
|
|
Registered Office : |
112, Tingkat Bawah, Jalan Raja Laut, 50350 Kuala Lumpur, Wilayah
Persekutuan |
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Country : |
Malaysia. |
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Date of Incorporation : |
30.06.2008 |
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Com. Reg. No.: |
001777774-A |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trading of Textiles, Goat Milk Soap, Marble, Clay and Wood Carvings |
|
|
|
|
No. of Employees : |
13 [2013] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES
:
Any query related to this report
can be made on e-mail: infodept@mirainform.com while quoting report
number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself
since the 1970s from a producer of raw materials into an emerging multi-sector
economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve
high-income status by 2020 and to move farther up the value-added production
chain by attracting investments in Islamic finance, high technology industries,
biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. The NAJIB administration also is continuing efforts to
boost domestic demand and reduce the economy's dependence on exports.
Nevertheless, exports - particularly of electronics, oil and gas, palm oil and
rubber - remain a significant driver of the economy. As an oil and gas
exporter, Malaysia has profited from higher world energy prices, although the
rising cost of domestic gasoline and diesel fuel, combined with strained
government finances, has forced Kuala Lumpur to begin to reduce government
subsidies. The government is also trying to lessen its dependence on state oil
producer Petronas. The oil and gas sector supplies about 35% of government revenue
in 2011. Bank Negera Malaysia (central bank) maintains healthy foreign exchange
reserves, and a well-developed regulatory regime has limited Malaysia's
exposure to riskier financial instruments and the global financial crisis.
Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a
general slowdown in global economic activity because exports are a major
component of GDP. In order to attract increased investment, NAJIB has raised
possible revisions to the special economic and social preferences accorded to
ethnic Malays under the New Economic Policy of 1970, but he has encountered
significant opposition, especially from Malay nationalists and other vested
interests.
|
Source : CIA |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
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|
|
|
N/A - Not Applicable |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
001777774-A |
|
COMPANY NAME |
: |
LEA INDAH
ENTERPRISE |
|
COMMENCEMENT DATE |
: |
30/06/2008 |
|
REGISTRATION DATE |
: |
30/06/2008 |
|
EXPIRY DATE |
: |
29/06/2015 |
|
BUSINESS CONSTITUTION |
: |
SOLE PROPRIETORSHIP |
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BUSINESS ADDRESS |
: |
112, TINGKAT BAWAH, JALAN RAJA LAUT, 50350
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-40457566 |
|
FAX.NO. |
: |
03-40457566 |
|
EMAIL |
: |
JULIALYANA@LEAINDAH.COM |
|
WEB SITE |
: |
LEAINDAH.COM |
|
CONTACT PERSON |
: |
NURHASLIANA ( OWNER ) |
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INDUSTRY CODE |
: |
47735 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF TEXTILES, GOAT MILK SOAP,
MARBLE, CLAY AND WOOD CARVINGS |
|
|
|
|
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STAFF STRENGTH |
: |
13 [2013] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
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PAYMENT |
: |
N/A |
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MANAGEMENT CAPABILITY |
: |
AVERAGE |
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COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY / BACKGROUND
The SC commenced its business on 30/06/2008 as a SOLE PROPRIETORSHIP.
The SC is a sole proprietorship, that is, it has a single owner whose
liabilities are unlimited. In case the SC is unable to meet all its
obligations, the creditors can claim on the owner's personal assets. The sole
proprietorship ceases upon the death of the owner or any time at the discretion
of the owner. The ownership is non-transferable. Under the law, the SC has to
file in its information with Registrar of Business but it is not required to
file in its financial statements.
The SC is principally engaged in the (as a / as an) trading of textiles,
goat milk soap, marble, clay and wood carvings.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The owner of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. NURHASLIANA @ JULIA BINTI ABDULLAH @
SILEM |
09-14 BLOCK B, JALAN PANDAN RIA , 68000
AMPANG, SELANGOR, MALAYSIA. |
710920-13-5220
K0263179 |
100.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
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|
100.00 |
100.00 |
|
|
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|
============ |
===== |
+ Also Director
OWNERS
OWNER(S) 1
|
Name Of Subject |
: |
MS. NURHASLIANA @ JULIA BINTI ABDULLAH @
SILEM |
|
Address |
: |
09-14 BLOCK B, JALAN PANDAN RIA, 68000
AMPANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
K0263179 |
|
New IC No |
: |
710920-13-5220 |
|
Date of Birth |
: |
20/09/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/06/2008 |
|
Shareholding |
: |
100% |
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MANAGEMENT
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|
1) |
Name of Subject |
: |
NURHASLIANA |
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|
Position |
: |
OWNER |
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AUDITOR
No Auditor found in our databank
BANKING
No Banker found in our databank.
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.
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
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SOURCES OF RAW MATERIALS: |
|||
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Local |
: |
YES |
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Overseas |
: |
YES |
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Import Countries |
: |
PAKISTAN,CHINA |
|
CLIENTELE
|
Local |
: |
YES |
|||
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Domestic Markets |
: |
MALAYSIA |
|||
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Overseas |
: |
YES |
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Credit Term |
: |
AS AGREED |
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Payment Mode |
: |
CHEQUES |
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OPERATIONS
|
Goods Traded |
: |
TEXTILES, GOAT MILK SOAP, MARBLE, CLAY AND
WOOD CARVINGS
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Total Number of Employees: |
|||||||||
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YEAR |
2013 |
2011 |
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GROUP |
N/A |
N/A |
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COMPANY |
13 |
15 |
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Branch |
: |
NO
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Other Information:
The SC is principally engaged in the (as a / as an) trading of textiles, goat milk
soap, marble, clay and wood carvings.
The SC is doing wholesale activities for various kind of product for local and
oversea customers.
We are informed that some of the SC's products are import from China and
Pakistan.
Some of the SC's product are:
- rock salt
- handcraft
- towel
- shirt
- goat milk soap etc
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 |
: |
03-40457566 |
|
Match |
: |
N/A |
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|
Address Provided by Client |
: |
LOT 112 HJALAN RAJA LAUT 50350 KUALA
LUMPUR |
|
Current Address |
: |
112, TINGKAT BAWAH, JALAN RAJA LAUT, 50350
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
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|
Other
Investigations
On 21st May 2013, we contacted one of the SC's staff from Admin Department. She
provided some information of the SC.
The address provided is incomplete.
The SC refused to disclose its banker.
FINANCIAL ANALYSIS
|
We are unable to comment on the SC
financial position as the SC is not required by the law to file its financial
statement in the Registrar of Business. |
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Overall
financial condition of the SC : N/A |
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic
Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic
Products ( % ) |
<0.5> |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private
Expenditure ( % ) |
<2.7> |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
<17.2> |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public
Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
<1.2> |
|
Investment ( % ) |
8.0 |
2.8 |
<0.3> |
15.9 |
4.2 |
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|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
<28,450> |
<40,482> |
<45,511> |
<42,297> |
<39,993> |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
<4.8> |
<5.6> |
<5.4> |
<4.5> |
<4.0> |
|
Inflation ( % Change in Composite CPI) |
<5.2> |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months
of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
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|
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|
Registration of
New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
<0.1> |
6.2 |
3.0 |
<0.0> |
- |
|
Liquidation of
Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
<34.5> |
417.8 |
- |
- |
|
|
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|
|
|
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|
Registration of New
Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business
Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
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|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
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|
INDUSTRIES ( %
of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
<1.1> |
<3.4> |
10.8 |
<2.8> |
- |
|
Rubber |
<19.8> |
9.9 |
6.1 |
<0.6> |
- |
|
Forestry & Logging |
<5.9> |
<3.3> |
<7.6> |
<2.2> |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
<0.7> |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing
Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry
Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
<3.8> |
0.2 |
<5.7> |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
<1.7> |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
<9.4> |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented
Industries |
<19.0> |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
<30.3> |
28.4 |
<4.9> |
1.6 |
- |
|
Rubber Products |
<10.1> |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
<24.1> |
20.1 |
<4.9> |
4.6 |
- |
|
Textiles & Apparel |
<19.5> |
<0.4> |
14.8 |
<7.1> |
- |
|
Domestic-oriented
Industries |
<9.8> |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
<7.7> |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
<9.1> |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
<32.7> |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
<2.5> |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
<15.5> |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
<13.5> |
36.5 |
<10.4> |
13.7 |
- |
|
Paper & Paper Products |
<5.0> |
18.7 |
14.8 |
<7.8> |
- |
|
Crude Oil Refineries |
0.2 |
<11.4> |
9.3 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry
Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR
Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry
Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry
Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
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* Estimate / Preliminary |
|
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** Forecast |
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|
# Based On Manufacturing Production Index |
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INDUSTRY ANALYSIS
|
MSIC CODE |
|
|
47735 : Retail sale of souvenirs,
craftwork and religious articles |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
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|
According to the Retail Group Malaysia (RGM),
the wholesale and retail trade sector forecast to grow to 6% in year 2013.
During the first quarter of year 2013, RGM is estimating the retail industry
to grow 6.9%. Many retailers have been enjoying better sales since the
government handed out cash from mid-January of 2013 under the second round of
Bantuan Rakyat 1Malaysia to more than 12 million Malaysians. Bookstores and
related retail stores have also started enjoying rising sales since the RM250
1Malaysia Book Voucher was distributed to 1.3 million private and public
university students. Besides, since early February 2013, handphone traders
and retailers selling smartphone accessories have started to benefit from the
RM200 rebate on smartphones for 1.5 million young adults aged between 21 and
30 years with a monthly income of not more than RM3,000. |
|
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|
|
|
The wholesale and retail trade sector grew
6.1% in the first half of the year 2012 driven by strong domestic consumption
and the increasing number of large format stores operating in Malaysia, including
180 foreign hypermarkets, superstores and departmental stores as at end of
August 2012. In addition, other indicators such as imports of consumption
goods were higher by 15.2%. |
|
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|
In 2012, the wholesale and retail trade
sector growth to 5.5% driven by higher consumption which benefited from
Government initiatives under the 2012 Budget such as BR1M, Baucar Buku
1Malaysia (BB1M) and the RM100 assistance for all primary and secondary
school students. The performance of the sector will also be supported by
ongoing efforts to modernise the retail segment under the ETP. In 2012, 500
retail shops and 50 workshops are targeted to be modernised under the Retail
Shop Transformation (TUKAR) and Automotive Workshop Modernisation (ATOM)
programmes, respectively. As at end of July 2012, 95 workshops have been
modernised, surpassing the yearly target, while 393 retail shops have been
modernised. |
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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. |
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Over 60% of Gross Domestic Product (GDP)
is contributed by domestic consumption, therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
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OVERALL INDUSTRY
OUTLOOK : Average Growth |
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CREDIT RISK EVALUATION & RECOMMENDATION
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This score serves as a reference
to assess SC’s credit risk and to set the amount of credit to be extended. It
is calculated from a composite of weighted scores obtained from each of the
major sections of this report. The assessed factors and their relative weights
(as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.