|
Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
HASIRIA MARKETING
SDN. BHD. |
|
|
|
|
Formerly Known As : |
BINARY BLOSSOMS SDN. BHD. (06/01/2009) |
|
|
|
|
Registered Office : |
Suite 1606, Plaza Pengkalan, Jalan Tiong, 3rd Mile,
Jalan Ipoh, 51100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.03.2008 |
|
|
|
|
Com. Reg. No.: |
811363-H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Food Products |
|
|
|
|
No. of Employees : |
10 |
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 : |
Slow |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
811363-H |
||||
|
COMPANY NAME |
: |
HASIRIA
MARKETING SDN. BHD. |
||||
|
FORMER NAME |
: |
BINARY BLOSSOMS SDN. BHD. (06/01/2009) |
||||
|
INCORPORATION DATE |
: |
27/03/2008 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
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|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
SUITE 1606, PLAZA PENGKALAN, JALAN TIONG,
3RD MILE, JALAN IPOH, 51100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
15-1, GROUND FLOOR, JALAN PJS 3/34, TAMAN
SRI MANJA, 46000 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-77848786 |
||||
|
FAX.NO. |
: |
03-77854786 |
||||
|
CONTACT PERSON |
: |
MOHAMED RAVOOF MOHAMED SHARBUDEEN (
DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FOOD PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 200,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 1,164,322 [2011] |
||||
|
NET WORTH |
: |
MYR <9,553> [2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
10 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
WEAK |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
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) trading of food
products.
The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. THASNEEM MOHAMED MUBARACK + |
30, JALAN PJU 1A/27D, ARA DAMANSARA, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
720217-75-5048 |
100,000.00 |
50.00 |
|
MR. MOHAMED RAVOOF MOHAMED SHARBUDEEN + |
30 JALAN PJU 1A/27D, ARA DAMANSARA, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
620815-75-5015 |
99,999.00 |
50.00 |
|
MS. YASMEEN BINTI ABDUL KADIR |
362, JALAN SAGA, KAMPUNG LIKAS, BATU 4 1/2,
JALAN TUARAN, 89400 LIKAS, SABAH, MALAYSIA. |
850731-12-6474 |
1.00 |
0.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
200,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. MOHAMED RAVOOF MOHAMED SHARBUDEEN |
|
Address |
: |
30 JALAN PJU 1A/27D, ARA DAMANSARA, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
620815-75-5015 |
|
Date of Birth |
: |
15/08/1962 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/10/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MS. THASNEEM MOHAMED MUBARACK |
|
Address |
: |
30, JALAN PJU 1A/27D, ARA DAMANSARA, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
720217-75-5048 |
|
Date of Birth |
: |
17/02/1972 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/04/2008 |
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
MOHAMED RAVOOF MOHAMED SHARBUDEEN |
|
|
Position |
: |
DIRECTOR |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
MR. VEERAKUMAR A/L V SARAVANAMUTHU |
|
|
|
|
|
|
|
New IC No |
: |
490729-02-5435 |
|
|
Address |
: |
NO. 23, JALAN 3/18C, JALAN IPOH BATU 8
1/2, TAMAN MASTIARA, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. RAFIDAH BINTI IBRAHIM |
|
|
|
|
|
|
|
New IC No |
: |
690101-10-9410 |
|
|
Address |
: |
NO. 0.03, BLOK F, PINGGIRAN BATU CAVES,
68100 BATU CAVES, 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 |
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
FOOD PRODUCTS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
10 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of food products.
The SC sells all kinds of Indian spices and food products.
The SC sells spices, curry powders, masala mix and others.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
603-7784 8786/7785 9786/7785 2490 |
|
Current Telephone Number |
: |
03-77848786 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
NO 15-1 GROUND FLOOR JALAN PJS 3/34 TAMAN SRI MANJA 46000 PETALING JAYA SELANGOR |
|
Current Address |
: |
15-1, GROUND FLOOR, JALAN PJS 3/34, TAMAN SRI MANJA, 46000 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the SC and she provided
some information on the SC.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
<0.00%> |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
<30.31%> |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
26.33% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
26.33% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market
condition.Higher losses before tax during the year could be due to the higher
operating costs incurred. Although the SC's returns showed positive figures
it is not reflective of the true situation. The SC incurred losses during the
year and its shareholders' funds have turned red. The positive returns on
shareholders' funds is the result of losses divided by negative shareholders'
funds. The SC's management was inefficient in utilising the assets to
generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.95 Times |
] |
|
|
|
|
|
|
|
|
|
|
Due to its weak liquidity position, the SC will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the SC. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Unfavourable |
[ |
<20.68
Times> |
] |
|
|
|
|
|
|
|
|
|
|
The SC has an unfavourable liabilities
ratio and it may face financial difficulties if no additional capital is
injected. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment : |
|
|
|
|
|
|
|
Although the SC's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to
maintain its competitiveness in the market. The SC's liquidity was at an
acceptable range. If the SC is able to obtain further short term financing,
it should be able to meet all its short term obligations. The SC has high
financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : POOR |
||||||
|
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 |
|
|
46329 : Wholesale
of other foodstuffs |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
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. |
|
|
|
|
|
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%. |
|
|
|
|
|
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. |
|
|
|
|
|
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. |
|
|
|
|
|
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. |
|
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : Average Growth |
|
Incorporated in 2008, the SC is a Private Limited company, focusing on trading of food products. The SC has been in business for 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. With a weak shareholders' backing, the SC's capital position is weak. Inadequate capital may be a constraint to the SC as it limits its ability to expand its business in future. The capital standing of the SC is weak. The SC may face difficulties to expand its business compared to other large corporation. Without a strong capital, the business expansion opportunities of the SC is limited.
Investigation revealed that the SC concentrates only on the local market. This
narrow market segment has placed the SC at high business risk and limits its
business expansion opportunities. Any adverse changes to the local economy
might have a negative impact on the SC's business performance. Being a small
company, the SC's business operation is supported by 10 employees. Overall, we
regard that the SC's management capability is weak. Without capable management,
the SC is unlikely to be successful and often contribute to unacceptable levels
of accountability. Weak management can affect productivity, profitability,
sales growth and ultimately can result in the failure of a business.
Despite the higher turnover, the SC suffered pre-tax losses which reflected a
highly competitive business environment. The SC has generated an unfavourable
return on shareholders' funds indicating that the management was inefficient in
utilising its funds to generate return. Due to its weak liquidity position, the
SC may face working capital deficiency in meeting its short term financial
obligations if no fresh capital are injected into the SC. The SC has an
unfavourable liabilities ratio and it may face financial difficulties if no
additional capital is injected. The SC's unfavourable financial performance
over the years has wiped out its shareholders' funds to a deficit of MYR 9,553.
Therefore, the SC as a going concern is much dependent on its ability to
generate sufficient cash flow and obtain additional financing to meet its
future obligations.
Without a strong assets backing, the SC may face difficulties in getting loans
for its future expansion and continued growth . 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.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. However, the SC does not take any advantage from this
favourable condition as it is making losses in this few years. The SC should
adopt more competitive strategies to retain its business position in the
market.
Based on the above unfavourable condition, we regard granting credit to the SC to
be quite risky. Hence, credit is not recommended.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
HASIRIA
MARKETING SDN. BHD. |
|
Financial Year End |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
NO |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
TURNOVER |
1,164,322 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
1,164,322 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
<2,515> |
<1,930> |
<1,520> |
<3,590> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
<2,515> |
<1,930> |
<1,520> |
<3,590> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<2,515> |
<1,930> |
<1,520> |
<3,590> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As previously reported |
<7,040> |
<5,110> |
<3,590> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
<7,040> |
<5,110> |
<3,590> |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
<9,555> |
<7,040> |
<5,110> |
<3,590> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
<9,555> |
<7,040> |
<5,110> |
<3,590> |
|
|
============= |
============= |
============= |
============= |
|
HASIRIA
MARKETING SDN. BHD. |
|
CURRENT ASSETS |
|
|
|
|
|
TOTAL CURRENT ASSETS |
188,045 |
2 |
2 |
2 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
188,045 |
2 |
2 |
2 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
197,598 |
7,040 |
5,110 |
3,590 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
2 |
2 |
2 |
2 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
2 |
2 |
2 |
2 |
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
Retained profit/(loss) carried forward |
<9,555> |
<7,040> |
<5,110> |
<3,590> |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
<9,555> |
<7,040> |
<5,110> |
<3,590> |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
|
============= |
============= |
============= |
============= |
|
HASIRIA
MARKETING SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
Net Liquid Assets |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Net Current Assets/(Liabilities) |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Net Tangible Assets |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Net Monetary Assets |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
|
|
|
|
|
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
Total Liabilities |
197,598 |
7,040 |
5,110 |
3,590 |
|
Total Assets |
188,045 |
2 |
2 |
2 |
|
Net Assets |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Net Assets Backing |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Shareholders' Funds |
<9,553> |
<7,038> |
<5,108> |
<3,588> |
|
Total Share Capital |
2 |
2 |
2 |
2 |
|
Total Reserves |
<9,555> |
<7,040> |
<5,110> |
<3,590> |
|
|
|
|
|
|
|
LIQUIDITY
(Times) |
|
|
|
|
|
Current Ratio |
0.95 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
Liabilities Ratio |
<20.68> |
<1.00> |
<1.00> |
<1.00> |
|
Assets Backing Ratio |
<4,776.50> |
<3,519.00> |
<2,554.00> |
<1,794.00> |
|
|
|
|
|
|
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
<0.22> |
- |
- |
- |
|
Net Profit Margin |
<0.22> |
- |
- |
- |
|
Return On Net Assets |
26.33 |
27.42 |
29.76 |
100.06 |
|
Return On Capital Employed |
26.33 |
27.42 |
29.76 |
100.06 |
|
Return On Shareholders' Funds/Equity |
26.33 |
27.42 |
29.76 |
100.06 |
|
|
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.