|
Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
O.Y.L.
MANUFACTURING COMPANY SDN BHD |
|
|
|
|
Formerly Known As : |
SEMICON ADVANCED TECHNOLOGY (MALAYSIA) SDN BHD |
|
|
|
|
Registered Office : |
Jalan Pengapit 15/19, 40000 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
04.01.1984 |
|
|
|
|
Com. Reg. No.: |
112531-W |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· manufacturer of single & multiple split air-conditioners, packaged as well as plant air-conditioning equipment. · Subject is under the OYL Industries Berhad which is engaged in the business of heating, ventilation, air-conditioning, refrigeration and air filtration. |
|
|
|
|
No of Employees : |
2000 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
112531-W |
||||
|
COMPANY NAME |
: |
O.Y.L.
MANUFACTURING COMPANY SDN BHD |
||||
|
FORMER NAME |
: |
SEMICON ADVANCED TECHNOLOGY (MALAYSIA) SDN
BHD (21/12/1991) |
||||
|
INCORPORATION DATE |
: |
04/01/1984 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
JALAN PENGAPIT 15/19, 40000 SHAH ALAM,
SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 60334, PERSIARAN BUKIT RAHMAN PUTRA 3,
TAMAN PERINDUSTRIAN BUKIT RAHMAN PUTRA, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-61458600 |
||||
|
FAX.NO. |
: |
03-61412286 |
||||
|
EMAIL |
: |
|||||
|
WEB SITE |
: |
x |
||||
|
CONTACT PERSON |
: |
KATSUHIKO TAKAGI ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
28191 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF
SINGLE & MULTIPLE SPLIT AIR-CONDITIONERS,
PACKAGED as well as PLANT
AIR-CONDITIONING EQUIPMENT producing a wide
range of HVAC (Heating, Ventilation, Air-Conditioning ) equipment for the Malaysian
and global export markets from basic residential air-conditioners to high
technology light commercial and commercial heat pump, air-cooled and
water-cooled chillers with larger capacity of up to 75 horse power |
||||
|
AUTHORISED CAPITAL |
: |
MYR 300,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 276,254,567.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 4,646,849,000 [2013] |
||||
|
NET WORTH |
: |
MYR 2,037,050,000 [2013] |
||||
|
M1000 OVERALL RANKING |
: |
158[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
5[2011] |
||||
|
STAFF STRENGTH |
: |
2000 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacture of single & multiple split air-conditioners, packaged as well as plant air-conditioning equipment.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
According to the
Malaysia 1000 publication, the Subject's ranking are as follows:
|
YEAR |
2011 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
158 |
358 |
338 |
301 |
|
|
INDUSTRY RANKING |
5 |
21 |
22 |
23 |
The immediate and ultimate holding company of the Subject is DAIKIN INDUSTRIES LTD., a company incorporated in JAPAN.
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
15/02/2013 |
MYR 300,000,000.00 |
MYR 276,254,567.00 |
|
16/01/2006 |
MYR 100,000,000.00 |
MYR 50,001,600.00 |
The major
shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DAIKIN INDUSTRIES LTD. |
UMEDA CENTER BUILDING, 4-12,
NAKAZAKI-NISHI, 2-CHOME, KITA-KU, OSAKA, 530-8323, JAPAN. |
JPXLZ00214313 |
276,254,567.00 |
100.00 |
|
--------------- |
------ |
|||
|
276,254,567.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
CHINA |
AFF TAIWAN CO., LTD |
100.00 |
31/03/2013 |
|
|
INDIA |
AFF INDIA PRIVATE LIMITED |
100.00 |
31/03/2013 |
|
|
CHINA |
AAF (WUHAN) CO., LTD |
100.00 |
31/03/2013 |
|
|
CHINA |
AAF (SUZHOU) CO., LTD. |
100.00 |
31/03/2013 |
|
|
CHINA |
AAF (SHENZHEN) CO., LTD. |
100.00 |
31/03/2013 |
|
|
INDONESIA |
P.T. O.Y.L. SENTRA MANUFACTURING |
100.00 |
31/03/2013 |
|
|
CHINA |
SUZHOU O.Y.L. TECHNOLOGY CO., LTD. |
100.00 |
31/03/2013 |
|
|
CHINA |
MCQUAY AIR-CONDITIONING (SHANGHAI) CO.,
LTD. |
100.00 |
31/03/2013 |
|
|
SAUDI ARABIA |
AFF SAUDI ARABIA LTD. |
100.00 |
31/03/2013 |
|
|
CHINA |
MCQUAY AIR-CONDITIONING &
REFRIGERATION (SUZHOU) CO., LTD. |
100.00 |
31/03/2013 |
|
|
CHINA |
SHENZHEN MCQUAY AIR-CONDITIONING CO., LTD. |
100.00 |
31/03/2013 |
|
|
HONG KONG |
MCQUAY AIR-CONDITIONING LIMITED |
100.00 |
31/03/2013 |
|
|
197200777G |
SINGAPORE |
AAF SINGAPORE PTE. LTD. |
100.00 |
31/03/2013 |
|
CHINA |
O.Y.L TECHNOLOGY (SHENZHEN) CO., LTD. |
100.00 |
31/03/2013 |
|
|
222359H |
MALAYSIA |
O.Y.L. RESEARCH & DEVELOPMENT CENTRE
SDN. BHD. |
100.00 |
29/03/2013 |
|
209388K |
MALAYSIA |
O.Y.L. TECHNOLOGY SDN. BHD. |
100.00 |
01/04/2013 |
|
129688D |
MALAYSIA |
ACSON MALAYSIA SALES & SERVICE SDN.
BHD. |
100.00 |
01/04/2013 |
|
109719M |
MALAYSIA |
GROUP ASSOCIATED (C & L) SDN.BHD. |
100.00 |
29/03/2013 |
|
137508X |
MALAYSIA |
AMERICAN AIR FILTER MANUFACTURING SDN.
BHD. |
100.00 |
11/10/2013 |
|
34543W |
MALAYSIA |
J & E HALL REFRIGERATION SDN. BHD. |
100.00 |
01/04/2013 |
|
370237T |
MALAYSIA |
J & E HALL (MALAYSIA) SDN. BHD. |
100.00 |
29/03/2013 |
|
347391P |
MALAYSIA |
MCQUAY (MALAYSIA) SDN. BHD. |
100.00 |
01/04/2013 |
|
103640U |
MALAYSIA |
GROUP ASSOCIATED (PENANG) SDN. BHD. |
100.00 |
31/12/2011 |
|
132332V |
MALAYSIA |
O.Y.L. STEEL CENTRE SDN. BHD. |
75.00 |
06/11/2013 |
|
168496T |
MALAYSIA |
YORK (MALAYSIA) SALES & SERVICE SDN.
BHD. |
70.00 |
01/04/2013 |
|
31113U |
MALAYSIA |
O.Y.L.-CONDAIR INDUSTRIES SDN. BHD. |
51.00 |
01/04/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
MR. BENNY LIOW WOON KHIN |
|
Address |
: |
10, LEGENDA PUTERI 3, DAMANSARA LEGENDA,
PETALING JAYA, 46400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5197971 |
|
New IC No |
: |
570318-02-5879 |
|
Date of Birth |
: |
18/03/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/06/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
YOSHIHIRO MINENO |
|
Address |
: |
3-4-1-803, FURUEDAI, SUITA-SHI, OSAKA,
565-0874, JAPAN. |
|
IC / PP No |
: |
TK3274849 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
10/03/2008 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. OOI CHENG SUAN |
|
Address |
: |
12, JALAN IBU KOTA 8, TAMAN IBU KOTA,
GOMBAK, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A0608773 |
|
New IC No |
: |
670213-02-5029 |
|
Date of Birth |
: |
13/02/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/07/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
KATSUHIKO TAKAGI |
|
Address |
: |
12-15-504, YAMATE-CHO, ASHIYA-SHI, HYOGO,
659-0096, JAPAN. |
|
IC / PP No |
: |
TK9912259 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
08/08/2007 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KATSUHIKO TAKAGI |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
OOI CHENG SUAN |
|
Position |
: |
CHIEF OPERATING OFFICER |
|
Auditor |
: |
DELOITTE & TOUCHE |
|
Auditor' Address |
: |
UPTOWN 1, 1, JALAN SS21/58, DAMANSARA
UPTOWN, LEVEL 19, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. NG HENG KEE |
|
IC / PP No |
: |
A0960438 |
|
|
New IC No |
: |
680205-10-6266 |
|
|
Address |
: |
83, JALAN WAWASAN 3/1, PUSAT BANDAR
PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HONG LEONG BANK BHD |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
26/01/1995 |
N/A |
BANK OF AMERICA NT SA |
- |
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 |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Import Countries |
: |
JAPAN,CHINA,EUROPE |
|||
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
40% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Export Market |
: |
UNITED STATES |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
LETTER OF CREDIT (LC) |
|||
|
Type of Customer |
: |
AGENTS,DISTRIBUTORS |
|||
|
No of Customer |
: |
60 |
|||
|
Products manufactured |
: |
|
||
|
Product Brand Name |
: |
|
||
|
Award |
: |
1 ) SPECIAL AWARD FOR INNOVATIVE PRODUCT
BY MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI) Year :2006 |
||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS
(FMM) SMALL & MEDIUM ENTERPRISE MALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE) |
||
|
Ownership of premises |
: |
OWNED |
||
|
Shifts |
: |
3 |
||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
|||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
2000 |
2000 |
1,400 |
1,400 |
1,400 |
1,350 |
|||
|
Branch |
: |
NO |
Other
Information:
The Subject is
principally engaged in the (as a / as an) manufacture of single & multiple
split air-conditioners & packaged & plant air-conditioning equipment.
The Subject is under the OYL Industries Berhad which is engaged in the business
of heating, ventilation, air-conditioning, refrigeration and air filtration.
The Group owns several major International brand names including McQuay (
heating, ventilation and air-conditioning), American Air Filters
(air-filtration, machine intake, air pollution control), J&E Hall
(refrigeration) and Acson (our home-grown air-conditioning brand).
The Subject produces a wide range of
products which includes:
1) Wall mounted/ Exposed - 6 models
2) Ceiling convertible - has three models which are A, D & C series
3) Ceiling cassette
4) Ceiling concealed - has two models namely CC & CX
5) Static blower
6) Multi split condenser
The Subject produces air-conditioners in various type of sizes and models.
We were informed that the Subject's air-conditioners mainly for homes, offices,
factories, hospitals and others.
The Subject is equipped with both automated and semi-automated machineries at
the production site.
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-61458600 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 60334, PERSIARAN BUKIT RAHMAN PUTRA 3,
TAMAN PERINDUSTRIAN BUKIT RAHMAN PUTRA,47000,SUNGAI BULOH,SELANGOR. |
|
Current Address |
: |
LOT 60334, PERSIARAN BUKIT RAHMAN PUTRA 3,
TAMAN PERINDUSTRIAN BUKIT RAHMAN PUTRA, 47000 SUNGAI BULOH, 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 |
||||||
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
18.96% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
25.14% |
] |
|
|
The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
44 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 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 |
[ |
2.03 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.67 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 |
: |
Favourable |
[ |
484.57 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.01 Times |
] |
|
|
The interest cover showed that the Subject
was able to service the interest. The favourable interest cover could
indicate that the Subject was making enough profit to pay for the interest accrued.
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 : |
||||||
|
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. With the favourable interest cover, the Subject could be
able to service all the accrued interest without facing any difficulties. 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 : 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 |
|
|
28191 : Manufacture of refrigerating or freezing
industrial equipment |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the leading manufacturer of automation machinery
and equipment (M&E) for the electrical and electronics (E&E) industry
in the ASEAN region with a total of 22 companies in production. The machinery
and equipment industry has expanded and produce a diverse range of machinery
which give importance to the overall industrial development of the country,
due to its cross cutting linkages with all industrial sectors. |
|
|
Malaysia implemented Industrial Master Plan 3 (IMP3, 2006-2020), which
the machinery and equipment industry has been established as one of the key areas
for growth and development. The implementation focused on the manufacture of
high value-added and high technology machinery and equipment (M&E). Under
this plan, M&E will positioned Malaysia as the regional production hub
for high technology and specialized M&E in the ASEAN region for 2012. |
|
|
Furthemore for the year 2012, Malaysia is the largest manufacturing
hub of boilers in the Southeast Asia region. The exports are mainly directed
to the neighboring countries such as Indonesia, Philippines, Thailand and
Cambodia. Exports of machinery and equipment registered a double-digit growth
of 12.6% in the frst seven month of 2012 mainly driven by general industrial
machinery and equipment as well as specialised machinery for specific
industries. |
|
|
For enhance the machinery and equipment (M&E), the government has
introduced two major tax incentives for companies investing in the
manufacturing sector where the pioneer status and the investment tax
allowance. The tax incentives would remain to be a competitive industry
within ASEAN. |
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
|
Incorporated in 1984, the Subject is a
Private Limited company, focusing on manufacture of single & multiple split
air-conditioners & packaged & plant air-conditioning equipment. The
Subject has been in business for 3 decades. It has built up a strong
clientele base and good reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. Having strong support from its holding company has enabled the
Subject to remain competitive despite the challenging business environment.
The Subject is a large entity with strong capital position. We are confident
with the Subject's business and its future growth prospect. Over the years, the Subject has
established an extensive clientele base in the market. Besides catering to
the local market, the Subject has penetrated into other countries. With the
contribution of both local and overseas customers, the Subject is likely to
be exposed to lower commercial risk. Hence, we believe that the Subject has
better business expansion opportunities in the future. Being a large entity,
the Subject has a steady workforce of 2,000 personnel to support its business
operations. Its future prospects seem to be fairly good as its business
operations are running relatively stable. 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. To improve its quality products and services, we noted that
the Subject has received a number of certifications & awards. This will
improve the customer's confidence level to the Subject. 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
2,037,050,000, 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. Overall, the Subject's payment habit is
good as the Subject has a good credit control and it could be taking
advantage of the cash discounts while maintaining a good reputation with its
creditors. 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. In view of the above favourable condition,
we recommend credit be proceeded to the Subject with favourable term. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
O.Y.L. MANUFACTURING
COMPANY SDN BHD |
|
Financial Year End |
2013-03-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
15 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
4,646,849,000 |
3,691,853,000 |
3,186,965,000 |
2,452,700,000 |
2,826,598,101 |
|
Other Income |
73,753,000 |
42,108,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
4,720,602,000 |
3,733,961,000 |
3,186,965,000 |
2,452,700,000 |
2,826,598,101 |
|
Costs of Goods Sold |
(3,641,321,000) |
(2,940,913,000) |
(2,497,939,000) |
(1,934,068,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,079,281,000 |
793,048,000 |
689,026,000 |
518,632,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
513,069,000 |
400,717,000 |
354,597,000 |
236,292,000 |
275,927,867 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
513,069,000 |
400,717,000 |
354,597,000 |
236,292,000 |
275,927,867 |
|
Taxation |
(114,539,000) |
(67,108,000) |
(41,766,000) |
(37,668,000) |
(40,148,514) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
398,530,000 |
333,609,000 |
312,831,000 |
198,624,000 |
235,779,353 |
|
Minority interests |
(12,312,000) |
(7,506,000) |
(11,268,000) |
(5,884,000) |
(26,445,903) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
386,218,000 |
326,103,000 |
301,563,000 |
192,740,000 |
209,333,450 |
|
Extraordinary items |
(181,519,000) |
- |
(574,000) |
(1,737,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
204,699,000 |
326,103,000 |
300,989,000 |
191,003,000 |
209,333,450 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,608,370,000 |
1,286,196,000 |
994,321,000 |
812,019,127 |
305,949,988 |
|
Prior year adjustment |
- |
- |
- |
873 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,608,370,000 |
1,286,196,000 |
994,321,000 |
812,020,000 |
305,949,988 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,813,069,000 |
1,612,299,000 |
1,295,310,000 |
1,003,023,000 |
515,283,438 |
|
TRANSFER TO RESERVES - General |
(6,220,000) |
(3,929,000) |
(9,114,000) |
(8,702,000) |
296,735,689 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(96,689,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,710,160,000 |
1,608,370,000 |
1,286,196,000 |
994,321,000 |
812,019,127 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Bankers' acceptance |
304,000 |
479,000 |
- |
- |
- |
|
Term loan / Borrowing |
220,000 |
345,000 |
- |
- |
- |
|
Others |
537,000 |
443,000 |
2,788,000 |
5,718,000 |
7,693,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,061,000 |
1,267,000 |
2,788,000 |
5,718,000 |
7,693,500 |
|
|
============= |
============= |
============= |
============= |
============= |
|
O.Y.L.
MANUFACTURING COMPANY SDN BHD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
465,011,000 |
491,079,000 |
434,681,000 |
458,350,000 |
478,286,249 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|||||
|
Investments |
43,304,000 |
42,963,000 |
55,000 |
55,000 |
702,500 |
|
Deferred assets |
36,221,000 |
63,230,000 |
43,736,000 |
25,654,000 |
19,679,181 |
|
Others |
22,337,000 |
25,643,000 |
29,445,000 |
31,170,000 |
32,186,109 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
101,862,000 |
131,836,000 |
73,236,000 |
56,879,000 |
52,567,790 |
|
INTANGIBLE
ASSETS |
|||||
|
Goodwill on consolidation |
72,691,000 |
72,691,000 |
72,691,000 |
72,691,000 |
72,958,692 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
72,691,000 |
72,691,000 |
72,691,000 |
72,691,000 |
72,958,692 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
639,564,000 |
695,606,000 |
580,608,000 |
587,920,000 |
603,812,731 |
|
CURRENT ASSETS |
|||||
|
Stocks |
534,297,000 |
611,248,000 |
582,857,000 |
398,791,000 |
522,131,063 |
|
Trade debtors |
329,438,000 |
551,226,000 |
454,290,000 |
378,964,000 |
425,504,714 |
|
Other debtors, deposits & prepayments |
51,453,000 |
53,271,000 |
46,804,000 |
37,569,000 |
37,117,336 |
|
Short term deposits |
689,585,000 |
474,792,000 |
534,335,000 |
59,132,000 |
9,242,976 |
|
Amount due from related companies |
183,094,000 |
118,457,000 |
104,603,000 |
87,198,000 |
84,209,329 |
|
Cash & bank balances |
457,688,000 |
468,548,000 |
294,484,000 |
613,762,000 |
337,839,183 |
|
Others |
4,614,000 |
3,855,000 |
1,778,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
2,250,169,000 |
2,281,397,000 |
2,019,151,000 |
1,575,416,000 |
1,416,044,601 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
2,889,733,000 |
2,977,003,000 |
2,599,759,000 |
2,163,336,000 |
2,019,857,332 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
439,582,000 |
405,426,000 |
515,873,000 |
362,872,000 |
302,083,843 |
|
Other creditors & accruals |
241,715,000 |
361,798,000 |
310,568,000 |
270,201,000 |
229,556,999 |
|
Short term borrowings/Term loans |
9,284,000 |
844,000 |
5,370,000 |
69,527,000 |
118,306,793 |
|
Other borrowings |
8,123,000 |
59,022,000 |
15,868,000 |
4,936,000 |
48,666,892 |
|
Bill & acceptances payable |
570,000 |
- |
11,414,000 |
13,549,000 |
33,147,000 |
|
Amounts owing to related companies |
58,142,000 |
48,873,000 |
50,751,000 |
26,516,000 |
27,903,912 |
|
Provision for taxation |
14,788,000 |
31,669,000 |
18,879,000 |
16,944,000 |
20,097,714 |
|
Other liabilities |
72,103,000 |
85,268,000 |
68,608,000 |
48,338,000 |
43,379,641 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
844,307,000 |
992,900,000 |
997,331,000 |
812,883,000 |
823,142,794 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,405,862,000 |
1,288,497,000 |
1,021,820,000 |
762,533,000 |
592,901,807 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,045,426,000 |
1,984,103,000 |
1,602,428,000 |
1,350,453,000 |
1,196,714,538 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,561 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,561 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
3,891,000 |
40,776,000 |
(10,767,000) |
32,346,000 |
41,061,237 |
|
General reserve |
21,240,000 |
30,682,000 |
21,555,000 |
17,903,000 |
10,332,385 |
|
Retained profit/(loss) carried forward |
1,710,160,000 |
1,608,370,000 |
1,286,196,000 |
994,321,000 |
812,019,127 |
|
Capital redemption reserve |
2,000 |
2,000 |
2,000 |
2,000 |
1,600 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,735,293,000 |
1,679,830,000 |
1,296,986,000 |
1,044,572,000 |
863,414,349 |
|
MINORITY INTEREST |
25,503,000 |
21,882,000 |
22,680,000 |
22,664,000 |
22,587,701 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,037,050,000 |
1,977,966,000 |
1,595,920,000 |
1,343,490,000 |
1,162,256,611 |
|
LONG TERM
LIABILITIES |
|||||
|
Long term loans |
- |
- |
- |
- |
23,788,833 |
|
Deferred taxation |
2,617,000 |
409,000 |
235,000 |
813,000 |
3,967,612 |
|
Retirement benefits provision |
5,759,000 |
5,728,000 |
6,273,000 |
6,150,000 |
6,701,482 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
8,376,000 |
6,137,000 |
6,508,000 |
6,963,000 |
34,457,927 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,045,426,000 |
1,984,103,000 |
1,602,428,000 |
1,350,453,000 |
1,196,714,538 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
O.Y.L.
MANUFACTURING COMPANY SDN BHD |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,147,273,000 |
943,340,000 |
828,819,000 |
672,894,000 |
347,082,159 |
|
Net Liquid Funds |
1,146,703,000 |
943,340,000 |
817,405,000 |
659,345,000 |
313,935,159 |
|
Net Liquid Assets |
871,565,000 |
677,249,000 |
438,963,000 |
363,742,000 |
70,770,744 |
|
Net Current Assets/(Liabilities) |
1,405,862,000 |
1,288,497,000 |
1,021,820,000 |
762,533,000 |
592,901,807 |
|
Net Tangible Assets |
1,972,735,000 |
1,911,412,000 |
1,529,737,000 |
1,277,762,000 |
1,123,755,846 |
|
Net Monetary Assets |
863,189,000 |
671,112,000 |
432,455,000 |
356,779,000 |
36,312,817 |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
17,977,000 |
59,866,000 |
32,652,000 |
88,012,000 |
223,909,518 |
|
Total Liabilities |
852,683,000 |
999,037,000 |
1,003,839,000 |
819,846,000 |
857,600,721 |
|
Total Assets |
2,889,733,000 |
2,977,003,000 |
2,599,759,000 |
2,163,336,000 |
2,019,857,332 |
|
Net Assets |
2,045,426,000 |
1,984,103,000 |
1,602,428,000 |
1,350,453,000 |
1,196,714,538 |
|
Net Assets Backing |
2,037,050,000 |
1,977,966,000 |
1,595,920,000 |
1,343,490,000 |
1,162,256,611 |
|
Shareholders' Funds |
2,037,050,000 |
1,977,966,000 |
1,595,920,000 |
1,343,490,000 |
1,162,256,611 |
|
Total Share Capital |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,000 |
276,254,561 |
|
Total Reserves |
1,735,293,000 |
1,679,830,000 |
1,296,986,000 |
1,044,572,000 |
863,414,349 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
1.36 |
0.95 |
0.83 |
0.83 |
0.42 |
|
Liquid Ratio |
2.03 |
1.68 |
1.44 |
1.45 |
1.09 |
|
Current Ratio |
2.67 |
2.30 |
2.02 |
1.94 |
1.72 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
42 |
60 |
67 |
59 |
67 |
|
Debtors Ratio |
26 |
54 |
52 |
56 |
55 |
|
Creditors Ratio |
44 |
50 |
75 |
68 |
39 |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.01 |
0.03 |
0.02 |
0.07 |
0.19 |
|
Liabilities Ratio |
0.42 |
0.51 |
0.63 |
0.61 |
0.74 |
|
Times Interest Earned Ratio |
484.57 |
317.27 |
128.19 |
42.32 |
36.87 |
|
Assets Backing Ratio |
7.14 |
6.92 |
5.54 |
4.63 |
4.07 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
11.04 |
10.85 |
11.13 |
9.63 |
9.76 |
|
Net Profit Margin |
8.31 |
8.83 |
9.46 |
7.86 |
7.41 |
|
Return On Net Assets |
25.14 |
20.26 |
22.30 |
17.92 |
23.70 |
|
Return On Capital Employed |
23.98 |
19.34 |
21.05 |
16.74 |
21.95 |
|
Return On Shareholders' Funds/Equity |
18.96 |
16.49 |
18.90 |
14.35 |
18.01 |
|
Dividend Pay Out Ratio (Times) |
0.25 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
Ras |
|
|
|
|
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.