|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PERNIAGAAN LEO METAL (M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
LIBRA LEO METAL SDN. BHD. |
|
|
|
|
Registered Office : |
568-9-20, Kompleks Mutiara, 3 1/2 Mile, Jalan Ipoh, 9th Floor, 51200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
16.03.2005 |
|
|
|
|
Com. Reg. No.: |
684567-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Hardware, Second Hand Goods, Old Aluminium, Copper and
Scarp Metals |
|
|
|
|
No. of Employees : |
Not Available |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
|
REGISTRATION NO. |
: |
684567-X |
|
COMPANY NAME |
: |
PERNIAGAAN LEO METAL (M) SDN. BHD. |
|
FORMER NAME |
: |
LIBRA LEO METAL SDN. BHD. (28/09/2006) |
|
INCORPORATION DATE |
: |
16/03/2005 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
568-9-20, KOMPLEKS MUTIARA, 3 1/2 MILE, JALAN IPOH, 9TH FLOOR, 51200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
8, JALAN BALAKONG JAYA 2/3, TAMAN INDUSTRI BALAKONG JAYA 2, 43300
BALAKONG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-89434211 |
|
FAX.NO. |
: |
03-89452311 |
|
CONTACT PERSON |
: |
MUTHALAGAN A/L SANGARALINGAM ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
46639 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF HARDWARE, SECOND HAND GOODS, OLD ALUMINIUM, COPPER AND
SCARP METALS |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 3,329,266 [2013] |
|
NET WORTH |
: |
MYR 40,534 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject 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 Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject 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 Subject is insolvent. The Subject 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 Subject is principally engaged in the (as a / as an) trading of
hardware, second hand goods, old aluminium, copper and scarp metals.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/01/2014 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
15/02/2013 |
MYR 100,000.00 |
MYR 100.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. MUTHALAGAN A/L SANGARALINGAM + |
9-9-5, BUKIT OUG CONDOMINIUM, JALAN 3A/155, TAMAN OUG, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
720814-08-5265 |
500,000.00 |
50.00 |
|
MS. DAPHNE DHANAM A/P RAMA ABEL JOHN + |
9-9-5, BUKIT OUG CONDOMINIUM, JALAN 3A/155, TAMAN OUG, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
780928-08-5110 |
500,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. MUTHALAGAN A/L SANGARALINGAM |
|
Address |
: |
9-9-5, BUKIT OUG CONDOMINIUM, JALAN 3A/155, TAMAN OUG, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
720814-08-5265 |
|
Date of Birth |
: |
14/08/1972 |
|
Nationality |
: |
MALAYSIAN INDIAN |
|
Date of Appointment |
: |
02/06/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. DAPHNE DHANAM A/P RAMA ABEL JOHN |
|
Address |
: |
9-9-5, BUKIT OUG CONDOMINIUM, JALAN 3A/155, TAMAN OUG, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
780928-08-5110 |
|
Date of Birth |
: |
28/09/1978 |
|
Nationality |
: |
MALAYSIAN INDIAN |
|
Date of Appointment |
: |
16/03/2005 |
|
1) |
Name of Subject |
: |
DAPHNE DHANAM A/P RAMA ABEL JOHN |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
MUTHALAGAN A/L SANGARALINGAM |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
INPANA & ASSOCIATES |
|
Auditor' Address |
: |
568-9-21, KOMPLEKS MUTIARA, 3 1/2MILE, JALAN IPOH, 9TH FLOOR, 51200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. AMUTHA A/P KARPANAN |
|
IC / PP No |
: |
6776863 |
|
|
New IC No |
: |
620404-10-6512 |
|
|
Address |
: |
8, JALAN 2/8, TAMAN WANGSA PERMAI (SRI DAMANSARA), KEPONG, 52100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the Subject 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 Subject 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
suppliers.
The Subject 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
|
Goods Traded |
: |
HARDWARE, SECOND HAND GOODS, OLD ALUMINIUM, COPPER AND SCARP METALS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of hardware, second
hand goods, old aluminium, copper and scarp metals.
The staff from the registered office refused to disclose the Subject's
operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
03-89434211/ 5944124 |
|
Current Telephone Number |
: |
03-89434211 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
NO 8 JALAN BALAKONG JAYA 2/3 JAMAN INDUSTRI BALA KONG JAYA 243300
BALAKONG SELANGAS |
|
Current Address |
: |
8, JALAN BALAKONG JAYA 2/3, TAMAN INDUSTRI BALAKONG JAYA 2, 43300
BALAKONG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 27th March 2014 we contacted one of the staff from the Subject's registered
office and she only provided limited information.
She however refused to disclose the Subject's number of employees and other
informations.
The Director's mobile Mr Muthalagan at 012-5555532 and Daphne at 012-55555421
are not answered.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
51.69% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
58.09% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The favourable debtors' days could be due to the good credit
control measures implemented by the Subject. The Subject had a favourable
creditors' ratio where the Subject could be taking advantage of the cash
discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
3.26 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.26 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject 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 Subject's interest cover was nil as it did not pay any interest during
the year. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. The
Subject did not make any interest payment during the year. The Subject was
dependent on its shareholders' funds to finance its business needs. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject : 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 |
|
|
46639 : Wholesale of other construction materials, hardware, plumbing and
heating equipment and supplies n.e.c. |
|
|
INDUSTRY : |
CONSTRUCTION |
|
The construction sector consists of four subsectors: residential,
non-residential, civil engineering and special trade works. During a period of
rapid economic expansion, the sector generally outperforms Gross Domestic
Product (GDP) growth. |
|
|
Construction's contribution to gross domestic product (GDP) is
expected to fall to 11.2% in 2013 from 15 % in 2012, with all subsectors
registering steady growth. The sector is expected to benefit from the
acceleration of ongoing construction activities, particularly from the
Economic Transformation Programme (ETP) and Second Rolling Plan (RP2)
construction-related projects. Of significance, exploration activities in
O&G industries and major projects such as the electrified double-tracking
between lpoh -Padang Besar, LPT2 Jabur - Kuala Terengganu, MRT and the River
of Life are expected to drive the growth of the civil engineering subsector.
The non-residential subsector is expected to expand spurred by the industrial
building segment and the commencement of construction of the Tun Razak
Exchange (TRX). The residential subsector is also projected to expand, albeit
at a moderate pace, after recording several years of strong growth. Key
housing development projects, particularly in Sungai Buloh and Bandar
Malaysia in Sungai Besi, which are expected to commence in 2013, will support
residential construction activities. According to the Minister of Finance, the
domestic demand is expected to grow at 5.6% and will remain the main driver
of growth in 2013 underpinned by strong private sector expenditure. |
|
|
The industry is set to receive a further boost from a wave of new developments
earmarked for 2013, including rail projects worth an estimated $52 billion
that should be launched in the coming year. It was predicted that the growth
in other sectors will largely drive Malaysia's economy but the construction
sector's contribution to GDP could still remain stable. However, while the
construction sector is expected to have a solid 2013, it remains hampered by
a shortage of skilled labourers, with rapid growth in recent years triggering
a drain on its workforce. In late November of 2012, the Builders Association
Malaysia (MBAM) request the government to do more to facilitate the training
of building workers or run the risk of supplyside bottlenecks delaying new
projects. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 2005, the Subject is a Private Limited company,
focusing on trading of hardware, second hand goods, old aluminium, copper and
scarp metals. Having been in business for 8 years, the Subject has
established a remarkable clientele base for itself which has contributed to
its business growth. The capital standing of the Subject is fair. With an
adequate share capital, the Subject has the potential of expanding its
business in future.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year
End |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
2009-03-31 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
3,329,266 |
3,131,485 |
2,904,205 |
2,014,619 |
165,645 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
3,329,266 |
3,131,485 |
2,904,205 |
2,014,619 |
165,645 |
|
Costs of Goods Sold |
(2,955,612) |
(2,752,810) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
373,654 |
378,675 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
23,548 |
11,234 |
10,053 |
8,853 |
3,385 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
23,548 |
11,234 |
10,053 |
8,853 |
3,385 |
|
Taxation |
(2,596) |
(3,046) |
(2,862) |
(1,804) |
(821) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
20,952 |
8,188 |
7,191 |
7,049 |
2,564 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
19,482 |
11,294 |
4,103 |
(2,946) |
(5,510) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,482 |
11,294 |
4,103 |
(2,946) |
(5,510) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
40,434 |
19,482 |
11,294 |
4,103 |
(2,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
40,434 |
19,482 |
11,294 |
4,103 |
(2,946) |
|
============= |
============= |
============= |
============= |
============= |
|
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
17,201 |
10,755 |
6,520 |
7,985 |
2,400 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
17,201 |
10,755 |
6,520 |
7,985 |
2,400 |
|
CURRENT ASSETS |
|||||
|
Other debtors, deposits & prepayments |
12,000 |
12,000 |
- |
- |
- |
|
Cash & bank balances |
21,670 |
21,991 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
33,670 |
33,991 |
35,284 |
66,088 |
12,810 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
50,871 |
44,746 |
41,804 |
74,073 |
15,210 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Other creditors & accruals |
7,220 |
7,610 |
- |
- |
- |
|
Amounts owing to director |
521 |
14,508 |
- |
- |
- |
|
Provision for taxation |
2,596 |
3,046 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
10,337 |
25,164 |
30,410 |
69,870 |
18,056 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
23,333 |
8,827 |
4,874 |
(3,782) |
(5,246) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
100 |
100 |
100 |
100 |
100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100 |
100 |
100 |
100 |
100 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
40,434 |
19,482 |
11,294 |
4,103 |
(2,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
40,434 |
19,482 |
11,294 |
4,103 |
(2,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
21,670 |
21,991 |
- |
- |
- |
|
Net Liquid Funds |
21,670 |
21,991 |
- |
- |
- |
|
Net Liquid Assets |
23,333 |
8,827 |
4,874 |
(3,782) |
(5,246) |
|
Net Current Assets/(Liabilities) |
23,333 |
8,827 |
4,874 |
(3,782) |
(5,246) |
|
Net Tangible Assets |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
Net Monetary Assets |
23,333 |
8,827 |
4,874 |
(3,782) |
(5,246) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
- |
- |
- |
|
Total Liabilities |
10,337 |
25,164 |
30,410 |
69,870 |
18,056 |
|
Total Assets |
50,871 |
44,746 |
41,804 |
74,073 |
15,210 |
|
Net Assets |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
Net Assets Backing |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
Shareholders' Funds |
40,534 |
19,582 |
11,394 |
4,203 |
(2,846) |
|
Total Share Capital |
100 |
100 |
100 |
100 |
100 |
|
Total Reserves |
40,434 |
19,482 |
11,294 |
4,103 |
(2,946) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
2.10 |
0.87 |
- |
- |
- |
|
Liquid Ratio |
3.26 |
1.35 |
- |
- |
- |
|
Current Ratio |
3.26 |
1.35 |
1.16 |
0.95 |
0.71 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
- |
- |
- |
|
Debtors Ratio |
0 |
0 |
- |
- |
- |
|
Creditors Ratio |
0 |
0 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Liabilities Ratio |
0.26 |
1.29 |
2.67 |
16.62 |
(6.34) |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Assets Backing Ratio |
405.34 |
195.82 |
113.94 |
42.03 |
(28.46) |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.71 |
0.36 |
0.35 |
0.44 |
2.04 |
|
Net Profit Margin |
0.63 |
0.26 |
0.25 |
0.35 |
1.55 |
|
Return On Net Assets |
58.09 |
57.37 |
88.23 |
210.64 |
(118.94) |
|
Return On Capital Employed |
58.09 |
57.37 |
88.23 |
210.64 |
(118.94) |
|
Return On Shareholders' Funds/Equity |
51.69 |
41.81 |
63.11 |
167.71 |
(90.09) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NNA |
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.