|
Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
BASF PETRONAS
CHEMICALS SDN. BHD. |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Level 18,
59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
451307-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Chemical Products |
|
|
|
|
No. of Employees : |
600 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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) |
|
|
|
|
N/A - Not Applicable |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
451307-K |
||||
|
COMPANY NAME |
: |
BASF PETRONAS
CHEMICALS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/10/1997 |
||||
|
|
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|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY, LINGKARAN
SYED PUTRA, LEVEL 18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT
JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-78412200 |
||||
|
FAX.NO. |
: |
03-78466624 |
||||
|
CONTACT PERSON |
: |
JOACHIM ALEXANDER QUEISSER ( MANAGING
DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
20119 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF CHEMICAL PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 2,400,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 3,095,278,000 [2012] |
||||
|
NET WORTH |
: |
MYR 1,139,384,000 [2012] |
||||
|
M1000 OVERALL RANKING |
: |
199[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
8[2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
600 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
GOOD |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
LOW |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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) manufacturing of
chemical products.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the SC's ranking are as
follows: |
|
|||||
|
|
|
|
|
|
||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
199 |
114 |
109 |
179 |
278 |
|
|
INDUSTRY RANKING |
8 |
3 |
4 |
3 |
6 |
|
The immediate holding company of the SC is BASF NEDERLAND B.V., a
company incorporated in NETHERLANDS.
The ultimate holding company of the SC is BASF SE, a company
incorporated in GERMANY.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BASF NEDERLAND B.V. |
GRONINGENSINGEL 1, 6835, EA ARNHEM, NETHERLANDS. |
NL09022883 |
600,000.00 |
60.00 |
|
PETRONAS CHEMICALS GROUP BERHAD |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR CITY CENTRE, 50088 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
400,000.00 |
40.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name Of Subject |
: |
DATUK WAN ZULKIFLEE BIN WAN ARIFFIN |
|
Address |
: |
5, JALAN 14/1, TAMAN TAR, 68000 AMPANG,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5995503 |
|
New IC No |
: |
600819-07-5545 |
|
Date of Birth |
: |
19/08/1960 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/08/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name Of Subject |
: |
MR. ABD. HAPIZ BIN ABDULLAH |
|
Address |
: |
24, JALAN SERUNAI 2, TAMAN KLANG JAYA, 41200
KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5485991 |
|
New IC No |
: |
581007-10-6261 |
|
Date of Birth |
: |
07/10/1958 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/06/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
3
|
Name Of Subject |
: |
DR RAINER DIERCKS |
|
Address |
: |
PHILIPP-MELANCHTHON-STRABE 21, 67346,
SPEYER, GERMANY. |
|
IC / PP No |
: |
225206719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
24/02/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
4
|
Name Of Subject |
: |
DR TORSTEN PENKUHN |
|
Address |
: |
34, DAKOTA CRESCENT, 19-01, DAKOTA
RESIDENCE, 399936, SINGAPORE. |
|
IC / PP No |
: |
C4KH5HP60 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
16/01/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
5
|
Name Of Subject |
: |
DR JOACHIM ALEXANDER QUEISSER |
|
Address |
: |
45, KIARA HILLS, 1, JALAN 32/70A, TAMAN SRI
HARTAMAS, 52480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
C5JCTJLJK |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
01/08/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
6
|
Name Of Subject |
: |
GOPALAN PILLAY |
|
Address |
: |
FLAT A, 33/F, TOWER 2, 23, OLD PEAK ROAD,
DYNASTY COURT, MID-LEVELS, HONG KONG. |
|
IC / PP No |
: |
M00042411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
07/05/2013 |
|
1) |
Name of Subject |
: |
ELIZABETH |
|
|
Position |
: |
CORPORATE COMMUNICATIONS MANAGER |
|
|
|
|
|
|
2) |
Name of Subject |
: |
JASON CHOI KAM HENG |
|
|
Position |
: |
MAINTENANCE MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
JOACHIM ALEXANDER QUEISSER |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
4) |
Name of Subject |
: |
NORASHIKIN MOKHTAR |
|
|
Position |
: |
SENIOR FINANCE MANAGER |
|
|
|
|
|
|
5) |
Name of Subject |
: |
SURAYA |
|
|
Position |
: |
ASSISTANT HUMAN RESOURCES DIRECTOR |
|
|
|
|
|
|
6) |
Name of Subject |
: |
VOLKER SEIDL |
|
|
Position |
: |
MARKETING DIRECTOR |
|
Auditor |
: |
KPMG DESA MEGAT & CO. |
|
Auditor' Address |
: |
KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA,
LEVEL 10, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. PATRICK TONG BING |
|
|
IC / PP No |
: |
K129290 |
|
|
New IC No |
: |
521211-13-5241 |
|
|
Address |
: |
3B-07-03, SAUJANA BUNGARAYA CONDOMINIUM,
SEKSYEN U2, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
Banking relations are maintained principally
with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of
investigation.
* 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.
* 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.
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
80% |
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
|
|
|
|
|
|
The SC refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
||||
|
|
|
|
||||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS
(FMM) MALAYSIAN PLASTICS MANUFACTURERS ASSOCIATION
(MPMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF
COMMERCE AND INDUSTRY (MICCI) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
||||
|
|
|
|
||||
|
Ownership of premises |
: |
OWNED
|
||||
|
Factory / Premises |
: |
LOT 139,JALAN
GEBENG 2/1, KAWASAN PERINDUSTRIAN GEBENG,, 26080 KUANTAN, PAHANG,
MALAYSIA.
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2012 |
2011 |
|
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
600 |
610 |
900 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as
an) manufacturing of chemical products.
The SC is partners with BASF ASIA PACIFIC in
Germany.
The SC is a well-known name in the chemical industry
and it produces and markets a wide range of essential chemical products.
The SC owns a world-class integrated Chemical
site in Gebeng, Pahang. It has an annual production output of approximately 1
million metric tonnes, which makes the site one of the largest integrated
chemical sites in the Asia-Pacific region.
This 'verbund' (integrated) chemical production
facility sited in Gebeng, Kuantan, Pahang Darul Makmur is the first such
facility for BASF in the Asia Pacific, manufacturing acrylic, oxo-products and
butanediol.
The SC's plants can be categorised into:
1) Plant 1 - Acrylic O
Complex
2) Plant 2 - OXO Complex
3) Plant 3 - BDO Complex
The SC processes and refines petrochemical
products and the end products are raw materials and ingredients for general
purposes.
The SC's product is Petrochemicals which is
ethylene and propylene ( for plastic products),oxygenated, halogen-free are
essential to the production of many pharmaceutical, paints and cosmetic
products.
The end-products are among others plastics,
adhesives, paints, lacquers, paper, diapers, automobile and industrial
coatings, pharmaceuticals, fine chemicals, textiles, leather and personal care
materials.
The SC utilizes advanced automated and
semi-automated machineries to ensure production of high quality products.
Latest fresh investigations carried out on the SC indicated that:
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78412200 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
2 JALAN U8/87, SEKSYEN U8, BUKIT JELUTONG,
40706, SHAH ALAM MALAYSIA |
|
Current Address |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT
JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
On 25th October 2013 we contacted one of the
staff from the SC and she provided some information on the SC.
The address provided is incorrect.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
55.12% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
70.15% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The SC's profit
fell sharply because of the high operating costs incurred. Generally the SC was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the SC's management was efficient in utilising the
assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
65 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing
its holding cost. This had reduced funds being tied up in stocks. The SC's
management was quite efficient in handling its debtors. The SC's debtors days
were at an acceptable range, thus the risk of its debts turning bad was
minimised. The SC had a favourable creditors' ratio where the SC could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
3.27 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.28 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be
maintained by the SC in order to assure its creditors of its ability to meet short
term obligations and the SC was in a good liquidity position. Thus, we
believe the SC is able to meet all its short term obligations as and when
they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
238.68 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.02 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the SC was
able to service the interest. The favourable interest cover could indicate that
the SC was making enough profit to pay for the interest accrued. The SC was
lowly geared thus it had a low financial risk. The SC was mainly financed by
its shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the SC being a lowly geared company, will be able to
compete better than those companies which are highly geared in the same
industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment : |
|
|
|
|
|
|
|
The SC recorded lower profits as its
turnover showed a erratic trend. The SC's management was unable to control
its costs efficiently as its profit showed a downward trend. 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. With the favourable interest cover, the
SC could be able to service all the accrued interest without facing any
difficulties. The SC as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : STRONG |
||||||
|
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 |
|
|
|
|
|
|
|
|
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 ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
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 |
- |
- |
|
|
|
|
|
|
|
|
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 |
- |
|
|
|
|
|
|
|
|
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 |
- |
|
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 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production
Index |
|||||
|
MSIC CODE |
|
|
20119 : Manufacture of other basic
chemicals n.e.c. |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The Manufacturing sector is one of the important
sectors to the growth of the Malaysian economy. According to Ministry of
Finance, the manufacturing sector is expected to grow 4.9% in year 2013.
Export oriented-industries are expected to benefit from the higher growth of
global trade, while domesticoriented industries expand in line with the
better consumer sentiment and business confidence. The resource-based
industries are envisaged to grow steadily attributed to improved demand for
petroleum, chemical, rubber and plastic products. With better job prospects
and higher disposable income, the transportation equipment subsector, in
particular, the passenger car segment is expected to expand. |
|
|
|
|
|
Value-added of the manufacturing sector
expanded 5% during the first half of 2012. Output of the sector rose 5.2%
during the first sevenmonths of 2012 in line with the increase in sales value
of manufactured products by 6.5% to RM363.1 billion. Output from
domesticoriented industries continued to expand 8.6% while export-oriented
industries grew 4.1%. |
|
|
|
|
|
According to the Department of Statistics,
the sales value of the Manufacturing sector in January 2013 posted a growth
of 7.4% (RM3.6 billion) to record RM52.4 billion as compared to RM48.8 billion
reported in year 2012. Meanwhile, month-on-month basis, the sales value has
decreased by 0.4% (RM0.2 billion) as compared with the preceding month. The
sales value in December 2012 has been revised positive 7.5% year-on-year to
record RM52.6 billion. |
|
|
|
|
|
Output of rubber products increased 3.6%
in the first seven month of 2012 mainly supported by continuous demand for
rubber gloves. Output of rubber gloves grew 5.9% on account of the expansion
in the global healthcare industry and wider usage of gloves in other sectors.
Similarly, output of catheters, especially for use in medical appliances,
also registered a strong growth of 12.6%. Nevertheless, production of rubber
tyres and tubes reduced 10.9% in tandem with slowing external demand from the
automotive industry, especially China. |
|
|
|
|
|
Meanwhile, production of wood and wood
products rebounded 4.6% largely supported by higher demand for wooden and
cane furniture (33.5%). The positive performance was attributed to vibrant
higher demand from major export destinations such as China and the United
States (US) for Malaysian-made furniture. Demand from China accelerated
further following the country’s rising income level and the implementation of
zero import duty on Malaysian made-furniture. Malaysia government has growth
target of 6.5% for wood based furniture where estimated to reach up to RM53
billion by year 2020.The government providing pioneer status for tax
exemption and investment tax allowance for this industry as a boost up step
towards produce good quality product and to meet the world demand. |
|
|
|
|
|
The output of chemicals and chemical
products rose 9.9% in the first seven month of year 2012 on account of
increasing demand for plastic products (11.8%) and basic chemicals (11.1%). External
demand for plastic packaging materials surged during the early part of the
year 2012, particularly from Japan and Thailand, as manufacturers resumed
operations, which were interrupted by natural calamities and power outages.
Chemical production are expected to show 7.5 % in year 2013 inline with
Malaysia as one of the largest contributor in world Chemicals & Chemical
industries. |
|
|
|
|
|
Tax and non-tax incentives provided by
goverment encourage manufacturers to move up the value chain of manufacturing
industry. The new growth initiatives by goverment in the manufacturing sector
such assolar and medial services can be important drivers of growth apart
from helping to diversify the manufacturing base and contributing to the
resilience of the sector. |
|
|
|
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
Incorporated in 1997, the SC is a Private Limited
company, focusing on manufacturing of chemical products. With its long establishment
in the market, the SC has received strong support from its stable customers
base. Its business position in the market is quite stable and it is expected to
enjoy better market shares over its rivals. Having strong support from its
shareholder has enabled the SC to remain competitive despite the challenging
business environment. The SC is a large entity with strong capital position. We
are confident with the SC's business and its future growth prospect.
Over the years, the SC has established an
extensive clientele base in the market. Besides catering to the local market,
the SC has penetrated into other countries. With the contribution of both local
and overseas customers, the SC is likely to be exposed to lower commercial
risk. Hence, we believe that the SC has better business expansion opportunities
in the future. Being a large entity, the SC has a steady workforce of 600
personnel to support its business operations. Its future prospects seem to be
fairly good as its business operations are running relatively stable. The SC
has a good management capability. Its capable management team has enabled the
SC to keep its business on going. Hence, the future prospect of the SC is
bright.
The SC's business performance showed a reverse trend as
both its turnover and pre-tax profit have decreased compared to the previous
year. However, the SC manage to generate a favourable return based on its
existing shareholders' funds 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. Being
a lowly geared company, the SC is exposed to low financial risk as it is mainly
dependent on its internal funds to finance its business needs. Given a positive
net worth standing at MYR 1,139,384,000, the SC should be able to maintain its
business in the near terms.
The SC's supplier are from both the local and
overseas countries. This will eliminates the risk of dependency on deliveries
from a number of key suppliers and insufficient quantities of its raw
materials. Overall the SC has a good control over its resources.
We regard that the SC's overall payment habit is
prompt. The SC had a favourable creditors' ratio as evidenced by its favourable
collection days.
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 favourable condition, we
recommend credit be proceeded to the SC with favourable term.
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
BASF PETRONAS
CHEMICALS SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
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 |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
2,441,060,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
2,441,060,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
<209,049,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
<209,049,000> |
|
Taxation |
<176,085,000> |
<196,161,000> |
24,239,000 |
<2,621,000> |
67,321,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
627,977,000 |
1,000,811,000 |
1,318,640,000 |
235,161,000 |
<141,728,000> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
255,978,000 |
|
Prior year adjustment |
- |
- |
- |
22,465,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
417,327,000 |
666,516,000 |
361,876,000 |
136,715,000 |
255,978,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,045,304,000 |
1,667,327,000 |
1,680,516,000 |
371,876,000 |
114,250,000 |
|
TRANSFER TO RESERVES - Statutory |
- |
- |
- |
<10,000,000> |
- |
|
TRANSFER TO RESERVES - General |
- |
- |
<4,000,000> |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
<650,000,000> |
<1,250,000,000> |
<1,010,000,000> |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
|
|
|
Lease interest |
3,380,000 |
2,947,000 |
- |
- |
- |
|
Others |
3,000 |
5,000 |
5,000 |
4,000 |
4,525,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,383,000 |
2,952,000 |
5,000 |
4,000 |
4,525,000 |
BASF PETRONAS CHEMICALS SDN. BHD.
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
442,923,000 |
533,463,000 |
485,844,000 |
730,936,000 |
1,047,686,000 |
|
|
|
|
|
|
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Deferred assets |
20,258,000 |
32,612,000 |
26,254,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
20,258,000 |
32,612,000 |
26,254,000 |
- |
- |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
463,181,000 |
566,075,000 |
512,098,000 |
730,936,000 |
1,047,686,000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
211,972,000 |
180,323,000 |
166,595,000 |
132,345,000 |
148,114,000 |
|
Trade debtors |
550,000,000 |
495,733,000 |
319,348,000 |
177,847,000 |
128,039,000 |
|
Other debtors, deposits & prepayments |
4,906,000 |
7,121,000 |
10,672,000 |
11,745,000 |
61,695,000 |
|
Short term deposits |
114,631,000 |
215,640,000 |
255,643,000 |
365,103,000 |
477,764,000 |
|
Amount due from related companies |
2,442,000 |
2,971,000 |
397,421,000 |
216,504,000 |
158,295,000 |
|
Cash & bank balances |
13,019,000 |
725,000 |
13,425,000 |
5,023,000 |
4,055,000 |
|
Others |
274,000 |
- |
13,000 |
8,264,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
897,244,000 |
902,513,000 |
1,163,117,000 |
916,831,000 |
977,962,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
2,025,648,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
108,622,000 |
114,936,000 |
23,415,000 |
7,144,000 |
11,906,000 |
|
Other creditors & accruals |
77,085,000 |
63,740,000 |
83,173,000 |
57,447,000 |
101,017,000 |
|
Hire purchase & lease creditors |
7,138,000 |
8,160,000 |
- |
- |
- |
|
Amounts owing to holding company |
4,867,000 |
2,488,000 |
3,794,000 |
- |
15,288,000 |
|
Amounts owing to related companies |
474,000 |
5,511,000 |
4,122,000 |
8,558,000 |
6,372,000 |
|
Provision for taxation |
3,961,000 |
24,105,000 |
1,497,000 |
1,672,000 |
1,597,000 |
|
Other liabilities |
7,302,000 |
21,310,000 |
153,949,000 |
117,587,000 |
48,464,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
209,449,000 |
240,250,000 |
269,950,000 |
192,408,000 |
184,644,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
793,318,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Share premium |
- |
- |
- |
196,000,000 |
686,000,000 |
|
Exchange equalisation/fluctuation reserve |
<269,920,000> |
<221,114,000> |
<275,251,000> |
<116,517,000> |
- |
|
Retained profit/(loss) carried forward |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
|
Capital redemption reserve |
14,000,000 |
14,000,000 |
14,000,000 |
10,000,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
800,250,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
|
|
|
|
|
|
|
LONG TERM
LIABILITIES |
|
|
|
|
|
|
Lease obligations |
11,592,000 |
18,125,000 |
- |
- |
- |
|
Deferred taxation |
- |
- |
- |
- |
26,754,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
11,592,000 |
18,125,000 |
- |
- |
26,754,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
|
============= |
============= |
============= |
============= |
============= |
BASF PETRONAS CHEMICALS SDN. BHD.
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
481,819,000 |
|
Net Liquid Funds |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
481,819,000 |
|
Net Liquid Assets |
475,823,000 |
481,940,000 |
726,572,000 |
592,078,000 |
645,204,000 |
|
Net Current Assets/(Liabilities) |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
793,318,000 |
|
Net Tangible Assets |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
Net Monetary Assets |
464,231,000 |
463,815,000 |
726,572,000 |
592,078,000 |
618,450,000 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
|
Total Borrowings |
18,730,000 |
26,285,000 |
0 |
0 |
0 |
|
Total Liabilities |
221,041,000 |
258,375,000 |
269,950,000 |
192,408,000 |
211,398,000 |
|
Total Assets |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
2,025,648,000 |
|
Net Assets |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
Net Assets Backing |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
Shareholders' Funds |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
Total Share Capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
Total Reserves |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
800,250,000 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
|
Cash Ratio |
0.61 |
0.90 |
1.00 |
1.92 |
2.61 |
|
Liquid Ratio |
3.27 |
3.01 |
3.69 |
4.08 |
4.49 |
|
Current Ratio |
4.28 |
3.76 |
4.31 |
4.77 |
5.30 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
25 |
19 |
18 |
25 |
22 |
|
Debtors Ratio |
65 |
52 |
34 |
33 |
19 |
|
Creditors Ratio |
13 |
12 |
2 |
1 |
2 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
|
Gearing Ratio |
0.02 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.19 |
0.21 |
0.19 |
0.13 |
0.12 |
|
Times Interest Earned Ratio |
238.68 |
406.48 |
258,881.20 |
59,446.50 |
<45.20> |
|
Assets Backing Ratio |
1.15 |
1.23 |
1.41 |
1.45 |
1.82 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
25.98 |
34.66 |
37.76 |
12.21 |
<8.56> |
|
Net Profit Margin |
20.29 |
28.98 |
38.47 |
12.07 |
<5.81> |
|
Return On Net Assets |
70.15 |
97.69 |
92.11 |
16.34 |
<11.11> |
|
Return On Capital Employed |
69.72 |
97.04 |
92.11 |
16.34 |
<11.11> |
|
Return On Shareholders' Funds/Equity |
55.12 |
82.70 |
93.84 |
16.16 |
<7.81> |
|
Dividend Pay Out Ratio (Times) |
1.04 |
1.25 |
0.77 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.