|
Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRO TECHNOLOGIES SDN. BHD. |
|
|
|
|
Formerly Known As : |
ADV INTEGRO SDN BHD (08/04/2002) |
|
|
|
|
Registered Office : |
Wisma Goshen, 60 & 62, Jalan Ss 22/21, Damansara Jaya, 2nd Floor,
47400 Petaling Jaya, Selangor |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
19.09.2000 |
|
|
|
|
Com. Reg. No.: |
526623-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the (as a / as an) it solution provider for
banks. |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
|
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
526623-U |
|
COMPANY NAME |
: |
INTEGRO TECHNOLOGIES SDN. BHD. |
|
FORMER NAME |
: |
ADV INTEGRO SDN BHD (08/04/2002) |
|
INCORPORATION DATE |
: |
19/09/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
WISMA GOSHEN, 60 & 62, JALAN SS 22/21, DAMANSARA JAYA, 2ND FLOOR,
47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
16.09, KENANGAN INTERNATIONAL, JALAN SULTAN ISMAIL, 16THFLOOR, 50250
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-21668908 |
|
FAX.NO. |
: |
03-21663910 |
|
WEB SITE |
: |
WWW.INTEGROSYS.COM |
|
CONTACT PERSON |
: |
WONG LEE SIN ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
62091 |
|
PRINCIPAL ACTIVITY |
: |
IT SOLUTION PROVIDER FOR BANKS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 6,914,972 [2012] |
|
NET WORTH |
: |
MYR 664,905 [2012] |
|
BANKER (S) |
|
MALAYAN BANKING BHD |
|
STAFF STRENGTH |
: |
80 [2013] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
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) it solution provider
for banks.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the SC is INTEGRO TECHNOLOGIES PTE.
LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the SC is AURIONPRO SOLUTIONS LIMITED, a
company incorporated in INDIA.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
INTEGRO TECHNOLOGIES PTE. LTD. |
61, STAMFORM ROAD, 03-03, STAMFORD COURT, 178892, SINGAPORE. |
200005556C |
100,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SHEKHAR MULLATTI |
|
Address |
: |
1, JALAN KUALA, 07-01, 239639, SINGAPORE. |
|
IC / PP No |
: |
Z2077342 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
26/01/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
PARESH CHANDULAL ZAVERI |
|
Address |
: |
3, SIGLAP ROAD, 06-23, MANDARIN GARDENS, 448907, SINGAPORE. |
|
IC / PP No |
: |
Z1787499 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
26/01/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. WONG LEE SIN |
|
Address |
: |
26, JALAN BS 3/4, SEKSYEN 3, TAMAN BUKIT SERDANG, 43300 BALAKONG,
SELANGOR, MALAYSIA. |
|
New IC No |
: |
810227-04-5049 |
|
Date of Birth |
: |
27/02/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/12/2011 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. KHAIRUNNADIAH BINTI ABU BAKAR |
|
Address |
: |
6, JALAN DAMAI PUSPA 10, ALAM DAMAI, CHERAS, 56000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
900815-14-6224 |
|
Date of Birth |
: |
15/08/1990 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/05/2012 |
|
1) |
Name of Subject |
: |
GANE |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
2) |
Name of Subject |
: |
WONG LEE SIN |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
ROGER YUE, TAN & ASSOCIATES |
|
Auditor' Address |
: |
WISMA GOSHEN, 60 & 62, JALAN SS 22/21, DAMANSARA JAYA, GROUND
& FIRST FLOOR, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. LAM LEE SAN |
|
|
IC / PP No |
: |
A2855638 |
|
|
New IC No |
: |
740810-14-5740 |
|
|
Address |
: |
B-02-17, SRI CAMELIA APARTMENT, JALAN PUTERI 7/15, BANDAR PUTERI
PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. ERICIA TAN YOKE KUAN |
|
|
|
|
|
|
|
New IC No |
: |
820603-14-6214 |
|
|
Address |
: |
C-17-06, AMPANG PRIMA CONDOMINIUM, JALAN WAWASAN AMPANG 2/5, BANDAR
BARU AMPANG, 68000 AMPANG, 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 |
|
Overseas |
: |
YES |
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 |
[ |
|
] |
|
Good 31-60 Days |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
THAILAND |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
N/A |
|||
|
Type of Customer |
: |
BANKS |
|||
|
Services |
: |
IT SOLUTION PROVIDER FOR BANKS
|
|
|
|
|
|
|
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2011 |
2010 |
2009 |
|
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
80 |
65 |
40 |
34 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) it solution provider for
banks.
The SC's headquarters is situated in Singapore.
The SC develops large-scale J2EE-based solutions for the financial industry.
The SC's group of employees is led by ex- Bankers who have good knowledge about
banking services and how the SC's product can be improved to assist the banks.
The product suite consists of two main categories:
* The SmartLender suite
* The Internet Banking suite
Each product is further sub-divided into modules, to cater to the needs and
requirements of different banks and countries. The bank enjoys the flexibility
of implementing the various modules in phases, in accordance with the bank’s
requirements and available budget.
The SmartLender suite comprises of the SmartLender Retail and SmartLender
Corporate products. Within each of these products are standalone modules - e.g.
Credit Processing System, Credit Control System, Credit Administration System,
Collateral Management System, SmartLender Data Warehouse, and etc - which may
be implemented in stages.
The Internet Banking suite consists of Retail Internet Banking and Corporate
Internet Banking. The latter is further sub-divided into two main products,
i.e. Cash Management and Trade Finance. Similarly, these products are made up
of further standalone modules, which again can be implemented in stages.
Integro’s applications are developed on a common platform, the Open Finance
Architecture (OFA).
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-21668908 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
UNIT 16.09 16TH FLOOR KENANGA I INTERNATIONAL JALAN SULTAN ISMAIL
50250 MALAYSIA |
|
Current Address |
: |
16.09, KENANGAN INTERNATIONAL, JALAN SULTAN ISMAIL, 16THFLOOR, 50250
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 24th October 2013, we contacted one of the staff from the SC and she
provided some informtion about the SC.
The address is incorrect.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
<1.00%> |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.51% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The higher profit could be attributed to the
increase in turnover. The SC's unfavourable returns on shareholders' funds
indicate the management's inefficiency in utilising its assets to generate
returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
115 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the SC is a service oriented company, the SC does not need to keep
stocks. The SC's debtors ratio was high. The SC should tighten its credit
control and improve its collection period. 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 |
[ |
1.25 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.25 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC's interest cover was nil as it did not pay any interest during
the year. The SC had no gearing and hence it had virtually no financial risk.
The SC was financed by its shareholders' funds and internally generated fund.
During the economic downturn, the SC, having a zero gearing, will be able to
compete better than those which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the turnover was erratic, the SC had maintained a steady growth
in its profit. This indicate the management's efficiency in controlling its
costs and profitability. The SC was in good liquidity position with its total
current liabilities well covered by its total current assets. With its
current net assets, the SC should be able to repay its short term
obligations. The SC did not make any interest payment during the year. The SC
was dependent on its shareholders' funds to finance its business needs. The
SC was a zero gearing company, it was solely dependant on its shareholders to
provide funds to finance its business. The SC has good chance of getting
loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the SC : LIMITED |
||||||
|
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 |
|
|
62091 : Information Communication Technology (ICT) system security |
|
|
|
|
|
INDUSTRY : |
INFORMATION TECHNOLOGY |
|
|
|
|
|
|
|
Malaysian IT spending is expected to reach US$5.6bn in 2013, up 7%,
although economic activity is expected to slow over the coming quarters.
Demand for IT products and services is forecast to stay resilient overall,
even as economic growth moderates. There should be several areas of
opportunity, particularly in key spending verticals such as telecoms, and a
new government Digital Malaysia Plan was unveiled in 2012. Spending on IT
products and services should be boosted by growing enterprise and government
interest in cloud computing, and ICT-friendly budget measures, but much will
depend on confidence in a sustainable economic recovery. |
|
|
|
|
|
Malaysia's Information Technology Industry is expected to continue
perform well in 2013, despite the possible constraints of the global economy.
This is especially in light of the global ICT industry forecast, which is
expected to grow by 3% in 2013 with global ICT spending estimated to reach
US$3.7 trillion, in spite of earlier estimation pegging global growth to only
be in the region of 2.5%. |
|
|
|
|
|
At the global level, demand for personal computers (PCs) remains weak
with declining orders notably from advanced economies. In addition, the
growing popularity of smartphones and media tablets has also affected the
sales of PCs despite the introduction of the Ultrabook, which provides better
mobile computing solutions. Consequently, output of the office, accounting
and machinery segment in Malaysia contracted further by 6.9% during the first
seven months of 2012. |
|
|
|
|
|
Moreover, the computer hardware sales had reach US$2.7billion in year
2012 and it expected to growth to US$2.9billion in year 2013. Where else, the
sales of software had reach US$876million in 2012 and it expected to continue
growth to US$952million in 2013. |
|
|
|
|
|
The IT services sales had reached US$1.6billion in 2012 and forcasted
to growth US$1.8billion in 2013. Moreover, in IT services, 83 companies were
granted the Multimedia Super Corridor Malaysia (MSC Malaysia) status with
total estimated investment of RM1,465.3 million and 7,891 employment
opportunities during the first eight months of 2012. The ICT industry in
Malaysia estimated to provide 50,000 total jobs and RM5.5billion investments
by 2015 since the ICT services sector is expected to continue to play a
crucial role in contributing to Malaysia’s aim of achieving high income
status by 2020. |
|
|
|
|
|
Government introduced lower interest rates and government import tax
exemptions for broadband equipment, including notebooks as a steps to
increase ICT market value. 2012 Malaysian PC sales supported by the
government will encourage to the greater broadband penetration. Besides, in
2012 the government announced its latest Digital Malaysia Masterplan to drive
the next stageof development of Malaysia's ICT sector. The plan will propose
a number of measures to strengthen Malaysia's ICT ecosystem, including talent
development, as well as stimulatingdemand by consumers and businesses for ICT
products and services. Encouraging the creation ofmore local applications for
cloud computing is expected to be one focus of the Digital Malaysiaplan. The
government's plan to develop a national cloud computing programme should also
driveopportunities in this key emerging area for vendors. |
|
|
|
|
|
The rapid growth of digital information in Malaysia has been
inevitable with several national initiatives of the government, including the
Digital Malaysia programme which aims to advance our country towards a
developed digital economy by 2020. It is expected that the growth of digital
information will continue moving towards into 2013. While organisations in the
digital economy could leverage on the information they generate everyday to
better serve customers and increase productivity, the same information can be
a major liability if not properly protected and managed. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Over the years, the SC has penetrated into both the local and overseas
market. The SC has positioned itself in the global market and is competing in
the industry. Its stable clientele base will enable the SC to further enhance
its business in the near term. Being a moderate size company, the SC has a
total workforce of 80 employees in its business operations. 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.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
Financial Year End |
2012-03-31 |
2011-03-31 |
2010-03-31 |
2009-06-30 |
2008-06-30 |
|
Months |
12 |
12 |
9 |
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 |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
6,914,972 |
9,722,464 |
5,881,522 |
12,135,904 |
12,383,852 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
6,914,972 |
9,722,464 |
5,881,522 |
12,135,904 |
12,383,852 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
43,315 |
7,938 |
230,486 |
86,305 |
244,091 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
43,315 |
7,938 |
230,486 |
86,305 |
244,091 |
|
Taxation |
<49,936> |
<28,000> |
<52,041> |
<12,783> |
<70,557> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<6,621> |
<20,062> |
178,445 |
73,522 |
173,534 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
571,526 |
591,588 |
413,143 |
339,621 |
166,087 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
571,526 |
591,588 |
413,143 |
339,621 |
166,087 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
119,815 |
169,127 |
56,015 |
109,904 |
170,305 |
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
- |
- |
0 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
119,815 |
169,127 |
56,015 |
109,904 |
170,305 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Trade debtors |
2,179,535 |
2,723,791 |
3,255,979 |
3,466,669 |
- |
|
Other debtors, deposits & prepayments |
110,388 |
48,540 |
39,206 |
113,647 |
- |
|
Cash & bank balances |
401,806 |
113,286 |
954,421 |
1,383,205 |
- |
|
Others |
13,395 |
40,000 |
15,000 |
31,826 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2,705,124 |
2,925,617 |
4,264,606 |
4,995,347 |
7,861,736 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
2,824,939 |
3,094,744 |
4,320,621 |
5,105,251 |
8,032,041 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
352,646 |
415,661 |
1,042,937 |
771,240 |
- |
|
Other creditors & accruals |
976,313 |
1,752,931 |
999,430 |
778,672 |
- |
|
Amounts owing to holding company |
831,075 |
254,626 |
1,586,666 |
3,042,196 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2,160,034 |
2,423,218 |
3,629,033 |
4,592,108 |
7,592,420 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
545,090 |
502,399 |
635,573 |
403,239 |
269,316 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
TOTAL LONG TERM LIABILITIES |
- |
- |
- |
- |
0 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
|
============= |
============= |
============= |
============= |
============= |
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
401,806 |
113,286 |
954,421 |
1,383,205 |
- |
|
Net Liquid Funds |
401,806 |
113,286 |
954,421 |
1,383,205 |
- |
|
Net Liquid Assets |
545,090 |
502,399 |
635,573 |
403,239 |
269,316 |
|
Net Current Assets/(Liabilities) |
545,090 |
502,399 |
635,573 |
403,239 |
269,316 |
|
Net Tangible Assets |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
Net Monetary Assets |
545,090 |
502,399 |
635,573 |
403,239 |
269,316 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
0 |
- |
|
Total Liabilities |
2,160,034 |
2,423,218 |
3,629,033 |
4,592,108 |
7,592,420 |
|
Total Assets |
2,824,939 |
3,094,744 |
4,320,621 |
5,105,251 |
8,032,041 |
|
Net Assets |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
Net Assets Backing |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
Shareholders' Funds |
664,905 |
671,526 |
691,588 |
513,143 |
439,621 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.19 |
0.05 |
0.26 |
0.30 |
- |
|
Liquid Ratio |
1.25 |
1.21 |
1.18 |
1.09 |
- |
|
Current Ratio |
1.25 |
1.21 |
1.18 |
1.09 |
1.04 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
0 |
0 |
- |
|
Debtors Ratio |
115 |
102 |
202 |
104 |
- |
|
Creditors Ratio |
19 |
16 |
65 |
23 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
3.25 |
3.61 |
5.25 |
8.95 |
17.27 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
Assets Backing Ratio |
6.65 |
6.72 |
6.92 |
5.13 |
4.40 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
0.63 |
0.08 |
3.92 |
0.71 |
1.97 |
|
Net Profit Margin |
<0.10> |
<0.21> |
3.03 |
0.61 |
1.40 |
|
Return On Net Assets |
6.51 |
1.18 |
33.33 |
16.82 |
55.52 |
|
Return On Capital Employed |
6.51 |
1.18 |
33.33 |
16.82 |
55.52 |
|
Return On Shareholders' Funds/Equity |
<1.00> |
<2.99> |
25.80 |
14.33 |
39.47 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.