|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
STYLON DESIGN (M) SDN. BHD. |
|
|
|
|
Registered Office : |
38, Lorong Yap Hin, Off Jalan Pasar, 55100 Kuala Lumpur, Wilayah Persekutuan
|
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.12.1990 |
|
|
|
|
Com. Reg. No.: |
209973-K |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
engaged in the interior designing and consultation
services. |
|
|
|
|
No. of Employees |
20 [2014] |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. |
: |
209973-K |
||||
|
COMPANY NAME |
: |
STYLON DESIGN
(M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/12/1990 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
38, LORONG YAP HIN, OFF JALAN PASAR, 55100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
1, JALAN SERINDIT 3, BANDAR PUCHONG JAYA,
, 47170 PUCHONG JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-58916870 |
||||
|
FAX.NO. |
: |
03-58916871 |
||||
|
CONTACT PERSON |
: |
LEONG FAT MEN ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
74101 |
||||
|
PRINCIPAL ACTIVITY |
: |
INTERIOR DECORATION |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 230,003.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 18,319,877 [2012] |
||||
|
NET WORTH |
: |
MYR 1,430,733 [2012] |
||||
|
STAFF STRENGTH |
` |
20 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
FAIR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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) interior decoration.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 230,003.00 |
|
20/05/1994 |
MYR 500,000.00 |
MYR 130,003.00 |
|
21/12/1990 |
MYR 100,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. FOO HEE KUAN + |
300-3-11, BLOCK M, OBD GARDEN, TOWER CONDOMINIUM, JALAN DESA UTAMA, TAMAN DESA, OFF JALAN KELANG LAMA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
571103-10-5569 5306249 |
80,501.00 |
35.00 |
|
MR. LEONG FAT MEN + |
C-07-12, JALAN 1/155B, GREENFIELD APARTMENT, BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
560615-05-5477 4966497 |
80,501.00 |
35.00 |
|
MR. ANG KOK KWANG + |
78, JALAN JALIL PERKASA 9, TAMAN ESPLANAD, BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
561110-10-5859 5190745 |
69,001.00 |
30.00 |
|
--------------- |
------ |
|||
|
230,003.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. ANG KOK KWANG |
|
Address |
: |
78, JALAN JALIL PERKASA 9, TAMAN ESPLANAD, BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5190745 |
|
New IC No |
: |
561110-10-5859 |
|
Date of Birth |
: |
10/11/1956 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
21/12/1990 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. LEONG FAT MEN |
|
Address |
: |
C-07-12, JALAN 1/155B, GREENFIELD APARTMENT, BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4966497 |
|
New IC No |
: |
560615-05-5477 |
|
Date of Birth |
: |
15/06/1956 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
21/12/1990 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. FOO HEE KUAN |
|
Address |
: |
300-3-11, BLOCK M, OBD GARDEN, TOWER CONDOMINIUM, JALAN DESA UTAMA, TAMAN DESA, OFF JALAN KELANG LAMA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5306249 |
|
New IC No |
: |
571103-10-5569 |
|
Date of Birth |
: |
03/11/1957 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
21/12/1990 |
|
1) |
Name of Subject |
: |
LEONG FAT MEN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ALLAN CHOONG & CO. |
|
Auditor' Address |
: |
32A, LORONG YAP HIN, OFF JALAN PASAR, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. CHEONG SIEW KEONG |
|
IC / PP No |
: |
0491247 |
|
|
New IC No |
: |
460516-10-5127 |
|
|
Address |
: |
10, JALAN BADAM 7, TAMAN RAKYAT, CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. CHOONG BOON GAN |
|
IC / PP No |
: |
7311622 |
|
|
New IC No |
: |
640220-10-7615 |
|
|
Address |
: |
101A, VILLA LAMAN TASIK, 16, JALAN 7/106, BANDAR SRI PERMAISURI, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Banking relations are maintained
principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
15/02/1994 |
LOAN AGREEMENT
& ASSIGNMENT |
UNITED OVERSEAS BANK MALAYSIA BHD |
MYR 185,000.00 |
Satisfied |
|
2 |
02/09/1996 |
N/A |
DEUTSCHE BANK MALAYSIA BERHAD |
- |
Satisfied |
* A check has been conducted in our databank against 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Services |
: |
INTERIOR DECORATION |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
20 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is
principally engaged in the (as a / as an) interior decoration.
The Subject is engaged in the interior designing and consultation services.
The Subject mostly provides its services for the cosmetic business.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
60 3 5891 6870 |
|
Current Telephone Number |
: |
03-58916870 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
1 JALAN SERINDIT 3 BANDAR PUCHONG JAYA
PUCHONG SELANGOR DARUL EHSAN MALAYSIA |
|
Current Address |
: |
1, JALAN SERINDIT 3, BANDAR PUCHONG JAYA,
, 47170 PUCHONG JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
we contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.56% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.76% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's management have been efficient
in controlling its operating costs. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
93 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.11 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.12 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 |
: |
Acceptable |
[ |
8.27 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.49 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp fall
in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in controlling
its costs and profitability. 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 had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. The Subject as a lowly geared company, will be more secured
compared to those highly geared companies. It has the ability to meet all its
long term obligations. |
||||||
|
Overall
financial condition of the Subject : FAIR |
||||||
|
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 |
- |
|
|
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 |
|
|
74101 : Activities of interior decorators |
|
|
INDUSTRY : |
BUSINESS SERVICES |
|
The services sector is expected to continue playing an important role
in driving the malaysia economy. The services activity might slow down going forward,
considering that at the global level, the services sector has already taken
some hits. The sector's output expansion was the weakest in the 2010 to 2012
growth period. |
|
|
The services sector is projected to continue to drive growth in 2012.
Growth will be supported by consumer-related sub-sectors, which is likely to
cushion the effects of slower trade-related activity during the year 2012. In
the wholesale and retail service sub-sector, growth will be led by the retail
segment, in line with the trend in private consumption. However, growth in
the wholesale services expected to be lower. Growth in the finance and
insurance sub-sector is expected to remain firm, supported by bank lending
activity. In the insurance segment, growth is expected to emanate from the
general insurance business, following favourable motor vehicle sales and the
implementation of the new motor cover framework which will enhance efficiency
in the motor insurance and takaful sector. |
|
|
Growth in the communication sub-sector is projected to be sustained,
amidst margin compression resulting from rising competition among service
providers. Growth will be supported by the expected launch of advanced
wireless technology, the ongoing widening of the High-Speed Broadband (HSBB)
infrastructure and Government initiatives to promote broadband services
nationwide. In the year 2012, Communication service sector expanded to 9.3%
propelled by the higher consumption in mobile phone services and data
communication. Meanwhile, growth in the transport and storage sub-sector is
anticipated to moderate, amidst the uncertain external outlook. Malaysia’s
banking sector had seen quite an overhaul in the past decade and was now a
model of stability. While it seemed likely that the international situation
would slow lending somewhat in 2012, it would still rise at a respectable
rate, and the long-term path should see further growth and reform. |
|
|
In year 2012, Services sector recorded a growth of 5.8% underpinned by
Wholesale & Retail and Communication. The growth of 5.7% in Wholesale
& Retail Trade service was supported by the expansion in retail segment
particularly in household appliances & equipments, pharmaceutical
products and personal care products services. |
|
|
Accroding to Ministry of Finance, the services sector are expected to
remain upbeat in 2013, with the accelerated implementation with major
initiatives under the National Key Result Areas and continued investment in
the seven services subsectors under the National Key Economic Areas. It said
that these initiatives are expected to drive the wholesale and retail trade,
finance and insurance, and communication subsectors, which are expected to
grow 6.8%, 5.2% and 8.2% respectively. |
|
|
The Business Services sector is a key one which continues to
accelerate changes within specialised areas in many developed nations and
consequently drive higher economic growth and greater efficiency. According
to the Minister of Human Resource, the Business Services sector has a unique
role to play in driving the competitiveness of a wide range of business
segments, industries and professional services. Therefore, the Malaysian
business services sector is on track to contribute RM78.7 billion to the gross
national income (GNP) by 2020. The growth of the service sector are also
expected to create 107,000 new jobs by 2020. |
|
|
Malaysian government has used various measures to promote the
development of its service industries. Policies pursued by the government of
Malaysia in promoting consolidation within the banking sector, encouraging
the development of private hospitals, and investing in port facilities could
seek to strengthen the industries. The Malaysian government has liberalized
some barriers to the foreign provision of services, and recent liberalization
could result in an increase of contribution of services sector to the economy
growth of the country. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 1990, the Subject is a
Private Limited company, focusing on interior decoration. With over 2 decades
of experience in the business, the Subject has fairly rich experiences in the
business and has achieved a certain market share. With a small paid up
capital of MYR 230,003, the Subject should put more efforts on its business
to gain higher market share while competing aggressively in the market. Over the years, the Subject should have
build up its clientele base and received supports from its regular customers.
Investigation revealed that the Subject's interest lies mostly in the local
market. Thus, any adverse changes to the local economy might have a negative
impact on the Subject's business performance. Being a small company, the
Subject's business operation is supported by 20 employees. Overall, we regard
that the Subject's management capability is average. This indicates that the
Subject has greater potential to improve its business performance and raising
income for the Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
Return on shareholders' funds of the Subject was at an acceptable range which
indicated that the management was efficient in utilising its funds to
generate income. The Subject is in good liquidity position with its current
liabilities well covered by it current assets. Hence, it has sufficient
working capital to meet its short term financial obligations. Being a lowly
geared company, the Subject is exposed to low financial risk as it is mainly
dependent on its internal funds to finance its business needs. Given a positive
net worth standing at MYR 1,430,733, the Subject should be able to maintain
its business in the near terms. Having a strong assets backing, the
Subject possesses latent assets as collateral for further financial
extension. Hence, it has good chance of getting loans if the needs arises.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the
Subject has a good control over its resources. The Subject's overall payment habit is
fair and this clearly implied a weak credit control of the Subject. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. Based on the above condition, we recommend
credit be granted to the Subject normally. |
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
STYLON DESIGN
(M) SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
18,319,877 |
14,217,476 |
15,164,526 |
11,769,740 |
11,808,608 |
|
Other Income |
127,936 |
63,526 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
18,447,813 |
14,281,002 |
15,164,526 |
11,769,740 |
11,808,608 |
|
Costs of Goods Sold |
(13,418,085) |
(9,748,382) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
5,029,728 |
4,532,620 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
287,852 |
282,238 |
461,037 |
417,026 |
114,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
287,852 |
282,238 |
461,037 |
417,026 |
114,932 |
|
Taxation |
(136,786) |
(79,135) |
(107,100) |
(108,781) |
(51,313) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
151,066 |
203,103 |
353,937 |
308,245 |
63,619 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,049,664 |
846,561 |
492,624 |
483,383 |
419,764 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,049,664 |
846,561 |
492,624 |
483,383 |
419,764 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,200,730 |
1,049,664 |
846,561 |
791,628 |
483,383 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(299,004) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,200,730 |
1,049,664 |
846,561 |
492,624 |
483,383 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Hire purchase |
38,283 |
8,980 |
- |
- |
- |
|
Term loan / Borrowing |
- |
45 |
- |
- |
- |
|
Others |
1,316 |
2,554 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
39,599 |
11,579 |
- |
- |
- |
|
|
============= |
============= |
|
STYLON DESIGN
(M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,323,957 |
859,195 |
788,972 |
642,795 |
810,342 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,323,957 |
859,195 |
788,972 |
642,795 |
810,342 |
|
CURRENT ASSETS |
|||||
|
Stocks |
37,560 |
33,246 |
- |
- |
- |
|
Trade debtors |
2,171,672 |
2,704,901 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
941,771 |
994,557 |
- |
- |
- |
|
Short term deposits |
1,009,587 |
904,412 |
- |
- |
- |
|
Amount due from director |
1,724,753 |
1,397,666 |
- |
- |
- |
|
Cash & bank balances |
207,400 |
436,038 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,092,743 |
6,470,820 |
5,029,015 |
4,460,106 |
3,586,188 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
7,416,700 |
7,330,015 |
5,817,987 |
5,102,901 |
4,396,530 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
3,401,104 |
2,819,070 |
- |
- |
- |
|
Other creditors & accruals |
1,860,723 |
2,890,087 |
- |
- |
- |
|
Hire purchase & lease creditors |
176,163 |
76,008 |
- |
- |
- |
|
Provision for taxation |
25,519 |
20,869 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,463,509 |
5,806,034 |
4,598,101 |
4,330,132 |
3,539,468 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
629,234 |
664,786 |
430,914 |
129,974 |
46,720 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,953,191 |
1,523,981 |
1,219,886 |
772,769 |
857,062 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
230,003 |
230,003 |
230,003 |
230,003 |
230,003 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
230,003 |
230,003 |
230,003 |
230,003 |
230,003 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
1,200,730 |
1,049,664 |
846,561 |
492,624 |
483,383 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,200,730 |
1,049,664 |
846,561 |
492,624 |
483,383 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,430,733 |
1,279,667 |
1,076,564 |
722,627 |
713,386 |
|
LONG TERM
LIABILITIES |
|||||
|
Hire purchase creditors |
522,458 |
244,314 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
522,458 |
244,314 |
143,322 |
50,142 |
143,676 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,953,191 |
1,523,981 |
1,219,886 |
772,769 |
857,062 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
STYLON DESIGN
(M) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,216,987 |
1,340,450 |
- |
- |
- |
|
Net Liquid Funds |
1,216,987 |
1,340,450 |
- |
- |
- |
|
Net Liquid Assets |
591,674 |
631,540 |
430,914 |
129,974 |
46,720 |
|
Net Current Assets/(Liabilities) |
629,234 |
664,786 |
430,914 |
129,974 |
46,720 |
|
Net Tangible Assets |
1,953,191 |
1,523,981 |
1,219,886 |
772,769 |
857,062 |
|
Net Monetary Assets |
69,216 |
387,226 |
287,592 |
79,832 |
(96,956) |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
698,621 |
320,322 |
- |
- |
- |
|
Total Liabilities |
5,985,967 |
6,050,348 |
4,741,423 |
4,380,274 |
3,683,144 |
|
Total Assets |
7,416,700 |
7,330,015 |
5,817,987 |
5,102,901 |
4,396,530 |
|
Net Assets |
1,953,191 |
1,523,981 |
1,219,886 |
772,769 |
857,062 |
|
Net Assets Backing |
1,430,733 |
1,279,667 |
1,076,564 |
722,627 |
713,386 |
|
Shareholders' Funds |
1,430,733 |
1,279,667 |
1,076,564 |
722,627 |
713,386 |
|
Total Share Capital |
230,003 |
230,003 |
230,003 |
230,003 |
230,003 |
|
Total Reserves |
1,200,730 |
1,049,664 |
846,561 |
492,624 |
483,383 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.22 |
0.23 |
- |
- |
- |
|
Liquid Ratio |
1.11 |
1.11 |
- |
- |
- |
|
Current Ratio |
1.12 |
1.11 |
1.09 |
1.03 |
1.01 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
1 |
1 |
- |
- |
- |
|
Debtors Ratio |
43 |
69 |
- |
- |
- |
|
Creditors Ratio |
93 |
106 |
- |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.49 |
0.25 |
- |
- |
- |
|
Liabilities Ratio |
4.18 |
4.73 |
4.40 |
6.06 |
5.16 |
|
Times Interest Earned Ratio |
8.27 |
25.37 |
- |
- |
- |
|
Assets Backing Ratio |
8.49 |
6.63 |
5.30 |
3.36 |
3.73 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
1.57 |
1.99 |
3.04 |
3.54 |
0.97 |
|
Net Profit Margin |
0.82 |
1.43 |
2.33 |
2.62 |
0.54 |
|
Return On Net Assets |
16.76 |
19.28 |
37.79 |
53.97 |
13.41 |
|
Return On Capital Employed |
15.38 |
18.36 |
37.79 |
53.97 |
13.41 |
|
Return On Shareholders' Funds/Equity |
10.56 |
15.87 |
32.88 |
42.66 |
8.92 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
0.97 |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.