|
Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUI HIN CHAN ENTERPRISE (M) SDN. BHD. |
|
|
|
|
Registered Office : |
19 & 21 (LOT 112 & 113), Jalan Industri 3/4,
Taman Perindustrian Temerloh, 28400 Mentakab, Pahang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
13.11.2009 |
|
|
|
|
Com. Reg. No.: |
879056-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Food Products, Grocery Products and Provision
Goods |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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. |
: |
879056-V |
||||
|
COMPANY NAME |
: |
SUI HIN CHAN
ENTERPRISE (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
13/11/2009 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
19 & 21 (LOT 112 & 113), JALAN INDUSTRI
3/4, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB, PAHANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO 19 & 21 JALAN INDUSTRI 3/4, TAMAN
PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB, PAHANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
09-2770818 |
||||
|
FAX.NO. |
: |
09-2773843 |
||||
|
CONTACT PERSON |
: |
TEE SIEW HEW ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FOOD PRODUCTS, GROCERY PRODUCTS
AND PROVISION GOODS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 31,419,640 [2010] |
||||
|
NET WORTH |
: |
MYR 722,931 [2010] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
15 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
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, grocery products and provision goods.
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. TEE SIEW HEW + |
F255 JALAN SELAYANG 3, TAMAN SELAYANG,
28000 TEMERLOH, PAHANG, MALAYSIA. |
600102-08-6394 |
245,000.00 |
49.00 |
|
MR. YAP SUI HEONG |
F255 JALAN SELAYANG 3, TAMAN SELAYANG,
28000 TEMERLOH, PAHANG, MALAYSIA. |
520814-06-5225 |
255,000.00 |
51.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. YAP KEAN CHONG |
|
Address |
: |
F255, JALAN SELAYANG 3, TAMAN SELAYANG, 28000
TEMERLOH, PAHANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
821115-14-5479 |
|
Date of Birth |
: |
15/11/1982 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. YAP KEAN SING |
|
Address |
: |
F255, JALAN SELAYANG 3, TAMAN SELAYANG,
28000 TEMERLOH, PAHANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
860224-14-5381 |
|
Date of Birth |
: |
24/02/1986 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MS. TEE SIEW HEW |
|
Address |
: |
F255 JALAN SELAYANG 3, TAMAN SELAYANG,
28000 TEMERLOH, PAHANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
600102-08-6394 |
|
Date of Birth |
: |
02/01/1960 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/11/2009 |
|
1) |
Name of Subject |
: |
TEE SIEW HEW |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
WONG YENG MUN & CO. |
|
Auditor' Address |
: |
19 (1ST FLOOR), JALAN 1/57A, BATU 3, JALAN
IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. LEE MOOI YOKE |
|
|
|
|
|
|
|
New IC No |
: |
680421-10-6316 |
|
|
Address |
: |
NO 12A, JALAN PJU 1A/43B, ARA DAMANSARA,
47301 PETALING JAYA, SELANGOR, MALAYSIA. |
Banking relations are maintained principally
with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/07/2010 |
N/A |
PUBLIC BANK BHD |
MYR 2,500,000.00 |
Unsatisfied |
|
2 |
17/01/2012 |
N/A |
PUBLIC BANK BHD |
N/A |
Unsatisfied |
* 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 |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Import Countries |
: |
ASIA |
|||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
Goods Traded |
: |
FOOD PRODUCTS, GROCERY PRODUCTS AND
PROVISION GOODS
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
7-ELEVEN MALAYSIA SDN BHD
|
|||||
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2011 |
2010 |
|
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
15 |
20 |
10 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of food products,
grocery products and provision goods.
The SC sells food products such as onions, dry chillies and others.
The SC sells its products both in loose and large quantities.
The SC is also able to provide transport delivery for large quantity purchase.
According to the SC, its sales increases during the festive season.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
603-33241008 |
|
Current Telephone Number |
: |
09-2770818 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
NO. 19 & 21, (LOT 112 & 113) JALAN INDUSTRI, 3/4 TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKB PANAND DARUL MAKMUR |
|
Current Address |
: |
NO 19 & 21 JALAN INDUSTRI 3/4, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB, PAHANG, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Admin Department. She provided some
information on the SC.
The address provided belongs to the SC's registered office.
|
The SC's latest financial accounts are up
to 2010 which is out dated in our opinion. Therefore, our comment on the SC
financial performance is restricted thereto. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : N/A |
||||||
|
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 2009, the SC is a Private Limited company, focusing on trading of food products, grocery products and provision goods. The SC has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. 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 15 employees. We regard
that the SC's management capability is average.
No latest financial accounts were filed during our inspection. The SC's latest
financial accounts are up to 2010, which is outdated in our opinion. Therefore,
our comment on the SC's overall financial performance is restricted thereto.
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. Hence, the SC is expected to benefit from the favourable outlook
of the industry.
Due to the unavailability of the SC's latest financial information, we only
recommend credit be proceeded to the SC with guarantee.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
SUI HIN CHAN
ENTERPRISE (M) SDN. BHD. |
|
Financial Year End |
2010-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
31,419,640 |
|
|
---------------- |
|
Total Turnover |
31,419,640 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
305,368 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
305,368 |
|
Taxation |
<82,437> |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
222,931 |
|
|
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
222,931 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
222,931 |
|
|
============= |
|
SUI HIN CHAN
ENTERPRISE (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
1,039,806 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
1,039,806 |
|
|
|
|
CURRENT ASSETS |
|
|
TOTAL CURRENT ASSETS |
5,066,005 |
|
|
---------------- |
|
TOTAL ASSET |
6,105,811 |
|
|
============= |
|
|
|
|
CURRENT
LIABILITIES |
|
|
TOTAL CURRENT LIABILITIES |
5,011,751 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
54,254 |
|
|
---------------- |
|
TOTAL NET ASSETS |
1,094,060 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
500,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
500,000 |
|
|
|
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
222,931 |
|
|
---------------- |
|
TOTAL RESERVES |
222,931 |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
722,931 |
|
|
|
|
LONG TERM
LIABILITIES |
|
|
TOTAL LONG TERM LIABILITIES |
371,129 |
|
|
---------------- |
|
|
1,094,060 |
|
|
============= |
|
SUI HIN CHAN
ENTERPRISE (M) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
54,254 |
|
Net Current Assets/(Liabilities) |
54,254 |
|
Net Tangible Assets |
1,094,060 |
|
Net Monetary Assets |
<316,875> |
|
|
|
|
BALANCE SHEET
ITEMS |
|
|
Total Liabilities |
5,382,880 |
|
Total Assets |
6,105,811 |
|
Net Assets |
1,094,060 |
|
Net Assets Backing |
722,931 |
|
Shareholders' Funds |
722,931 |
|
Total Share Capital |
500,000 |
|
Total Reserves |
222,931 |
|
|
|
|
LIQUIDITY
(Times) |
|
|
Current Ratio |
1.01 |
|
|
|
|
SOLVENCY RATIOS
(Times) |
|
|
Liabilities Ratio |
7.45 |
|
Assets Backing Ratio |
2.19 |
|
|
|
|
PERFORMANCE
RATIO (%) |
|
|
Operating Profit Margin |
0.97 |
|
Net Profit Margin |
0.71 |
|
Return On Net Assets |
27.91 |
|
Return On Capital Employed |
27.91 |
|
Return On Shareholders' Funds/Equity |
30.84 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.66 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.60 |
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.