|
Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
QD
HERBS SDN. BHD. |
|
|
|
|
Registered Office : |
110B-1, Jalan Raja |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.02.1997 |
|
|
|
|
Com. Reg. No.: |
420038-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Herbal and Pharmaceutical
Products. |
|
|
|
|
No of Employees : |
50 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 32% of government revenue in 2013. Bank Negara 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 earlier raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
420038-W |
||||
|
COMPANY NAME |
: |
QD HERBS SDN.
BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
19/02/1997 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
110B-1, JALAN RAJA PERMAISURI BAINUN,
30250 IPOH, PERAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO 1 & 3, PERINDUSTRIAN PENGKALAN 35,
TAMAN PERINDUSTRIAN SRI PENGKALAN, JALAN LAHAT, 31650 IPOH, PERAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
05-3229733/3220733 |
||||
|
FAX.NO. |
: |
05-3218733 |
||||
|
CONTACT PERSON |
: |
CHUA KAY LIN ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
21001 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF HERBAL AND PHARMACEUTICAL
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,066,000.00 DIVIDED INTO ORDINARY SHARES 920,000 CASH AND 146,000 OTHERWISE OF MYR 1.00 EACH. |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 6,868,953 [2013] |
||||
|
NET WORTH |
: |
MYR 2,194,631 [2013] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
50 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
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) manufacturing of herbal and pharmaceutical products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is ASTROBUMI CORPORATION SDN. BHD., a company incorporated in MALAYSIA.
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
15/02/2013 |
MYR 5,000,000.00 |
MYR 1,066,000.00 |
|
23/03/2000 |
MYR 1,000,000.00 |
MYR 986,000.00 |
|
28/08/1998 |
MYR 500,000.00 |
MYR 246,000.00 |
|
09/09/1997 |
MYR 500,000.00 |
MYR 100,000.00 |
|
12/06/1997 |
MYR 500,000.00 |
MYR 70,000.00 |
|
19/02/1997 |
MYR 500,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ASTROBUMI CORPORATION SDN. BHD. |
18, JALAN UTAMA 2/11, TAMAN PERINDUSTRIAN
MAJU JAYA PUCHONG, BATU 14, JALAN PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA. |
377541P |
986,200.00 |
92.51 |
|
MR. CHOONG CHEE PING + |
11, HALA STADIUM, TAMAN IPOH, 31400 IPOH,
PERAK, MALAYSIA. |
570713-08-5337
5165857 |
39,900.00 |
3.74 |
|
MR. CHOONG CHEE YEE |
28, DATARAN PERAJURIT 3, TAMAN KEMUNCAK,
31400 IPOH, PERAK, MALAYSIA. |
470907-08-5521
0615002 |
39,900.00 |
3.74 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,066,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name Of Subject |
: |
MR. PANG KOOI YAN |
|
Address |
: |
10, USJ 11/2C, UEP SUBANG JAYA, 47620
SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6837751 |
|
New IC No |
: |
620707-08-6141 |
|
Date of Birth |
: |
07/07/1962 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/07/1999 |
DIRECTOR
2
|
Name Of Subject |
: |
MR. CHUA KAY LIN |
|
Address |
: |
16, JALAN PASIR DELIMA 1, TAMAN DESA
HARUM, 31650 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
6732715 |
|
New IC No |
: |
620303-08-6495 |
|
Date of Birth |
: |
03/03/1962 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/07/1999 |
DIRECTOR
3
|
Name Of Subject |
: |
MR. CHOONG CHEE PING |
|
Address |
: |
11, HALA STADIUM, TAMAN IPOH, 31400 IPOH,
PERAK, MALAYSIA. |
|
IC / PP No |
: |
5165857 |
|
New IC No |
: |
570713-08-5337 |
|
Date of Birth |
: |
13/07/1957 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/02/1997 |
|
1) |
Name of Subject |
: |
CHUA KAY LIN |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
HOR WAI SZE |
|
|
Position |
: |
PRODUCTION ENGINEER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
TEH LAI QUINN |
|
|
Position |
: |
QUALITY CONTROL MANAGER |
|
|
|
|
|
|
Auditor |
: |
LIM HOON NAM & CO. |
|
Auditor' Address |
: |
110B-2, JALAN RAJA PERMAISURI BAINUN, 30250
IPOH, PERAK, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. NG SENG @ NG KIN SIN |
|
|
IC / PP No |
: |
1419044 |
|
|
New IC No |
: |
430911-08-5333 |
|
|
Address |
: |
3, JALAN FOO KAN YIK, TAMAN CHATEAU, 30250
IPOH, PERAK, MALAYSIA. |
Banking relations are maintained principally
with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
2) |
Name |
: |
PUBLIC BANK BHD |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
18/12/1997 |
N/A |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 135,000.00 |
Satisfied |
|
2 |
13/03/2000 |
LETTER OF
SET-OFF |
PUBLIC BANK BERHAD |
MYR 250,000.00 |
Unsatisfied |
|
3 |
13/03/2000 |
LETTER OF
SET-OFF |
PUBLIC BANK BERHAD |
MYR 100,000.00 |
Unsatisfied |
|
4 |
13/03/2000 |
A FIRST LEGAL
CHARGE UNDER THE NATIONAL LAND CODE |
PUBLIC BANK BERHAD |
MYR 150,000.00 |
Unsatisfied |
|
5 |
28/12/2001 |
LETTER OF
SET-OFF |
PUBLIC BANK BERHAD |
MYR 400,000.00 |
Unsatisfied |
|
6 |
28/12/2004 |
FORM OF CHARGE
AS SPECIFIED UNDER SECTION 24 OF THE NATIONAL LAND CODE |
PUBLIC BANK BERHAD |
MYR 135,000.00 |
Unsatisfied |
|
7 |
30/11/2007 |
FIRST PARTY
LEGAL CHARGE UNDER THE NATIONAL LAND CODE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
8 |
09/09/2009 |
FIRST PARTY
LEGAL CHARGE UNDER THE NATIONAL LAND CODE 1965 AS COLLATERAL SECURITY TO THE
FACILITIES AGREEMENT |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
* 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 |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
UNITED STATES,AUSTRALIA,CANADA,NEW
ZEALAND,SOUTH AFRICA |
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 |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
CAMBODIA |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
WHOLESALERS,PHARMACIES,PHARMACEUTICAL
INDUSTRIES |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
||
|
YEAR |
2014 |
2009 |
|
GROUP |
N/A |
N/A |
|
COMPANY |
50 |
50 |
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a
/ as an) manufacturing of herbal and pharmaceutical products.
The Subject is manufacturing of herbal and
pharmaceutical products.
The Subject manufacture their product based on
customers request.
The Subject supply the product more to the
wholesale and wholesale will divide to hypermarket and pharmacies.
The Subject also enganged with COSWAY.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
053220733/3229733 |
|
Current Telephone Number |
: |
05-3229733/3220733 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
NO 1 & 3, PERSIARAN PERINDUSTRIAN
PENGKALAN, 35TAMAN PERINDUSTRIAN SRI PENGKALAN, JALAN LAHAT, 31500 PERAK,
MALAYSIA |
|
Current Address |
: |
NO 1 & 3, PERINDUSTRIAN PENGKALAN 35,
TAMAN PERINDUSTRIAN SRI PENGKALAN, JALAN LAHAT, 31650 IPOH, PERAK, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
On 14th August 2014, we contacted one of the
staff from the Subject Ms Fong from Administration Department and she provided
some information regarding the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.73% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.21% |
] |
|
|
|
|
|
|
|
|
|
|
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. The Subject's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
44 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
48 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
40 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 |
[ |
1.64 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.20 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 |
[ |
4.64 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.38 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 : |
|
|
|
|
|
|
|
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 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 : STABLE |
||||||
|
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 |
|
|
21001 : Manufacture of medicinal active substances to be used for their
pharmacological properties in the manufacture of medicaments |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The Manufacturing sector is one of the important sectors to the growth
of the Malaysian economy. According to Ministry of Finance, the manufacturing
sector is expected to grow 4.9% in year 2013. Export oriented-industries are
expected to benefit from the higher growth of global trade, while
domesticoriented industries expand in line with the better consumer sentiment
and business confidence. The resource-based industries are envisaged to grow
steadily attributed to improved demand for petroleum, chemical, rubber and
plastic products. With better job prospects and higher disposable income, the
transportation equipment subsector, in particular, the passenger car segment
is expected to expand. |
|
|
|
|
|
Value-added of the manufacturing sector expanded 5% during the first
half of 2012. Output of the sector rose 5.2% during the first sevenmonths of
2012 in line with the increase in sales value of manufactured products by
6.5% to RM363.1 billion. Output from domesticoriented industries continued to
expand 8.6% while export-oriented industries grew 4.1%. |
|
|
|
|
|
According to the Department of Statistics, the sales value of the
Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion)
to record RM52.4 billion as compared to RM48.8 billion reported in year 2012.
Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2
billion) as compared with the preceding month. The sales value in December
2012 has been revised positive 7.5% year-on-year to record RM52.6
billion. |
|
|
|
|
|
Output of rubber products increased 3.6% in the first seven month of
2012 mainly supported by continuous demand for rubber gloves. Output of
rubber gloves grew 5.9% on account of the expansion in the global healthcare
industry and wider usage of gloves in other sectors. Similarly, output of
catheters, especially for use in medical appliances, also registered a strong
growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced
10.9% in tandem with slowing external demand from the automotive industry,
especially China. |
|
|
|
|
|
Meanwhile, production of wood and wood products rebounded 4.6% largely
supported by higher demand for wooden and cane furniture (33.5%). The
positive performance was attributed to vibrant higher demand from major
export destinations such as China and the United States (US) for
Malaysian-made furniture. Demand from China accelerated further following the
country’s rising income level and the implementation of zero import duty on
Malaysian made-furniture. Malaysia government has growth target of 6.5% for
wood based furniture where estimated to reach up to RM53 billion by year
2020.The government providing pioneer status for tax exemption and investment
tax allowance for this industry as a boost up step towards produce good
quality product and to meet the world demand. |
|
|
|
|
|
The output of chemicals and chemical products rose 9.9% in the first
seven month of year 2012 on account of increasing demand for plastic products
(11.8%) and basic chemicals (11.1%). External demand for plastic packaging
materials surged during the early part of the year 2012, particularly from
Japan and Thailand, as manufacturers resumed operations, which were
interrupted by natural calamities and power outages. Chemical production are
expected to show 7.5 % in year 2013 inline with Malaysia as one of the
largest contributor in world Chemicals & Chemical industries. |
|
|
|
|
|
Tax and non-tax incentives provided by goverment encourage
manufacturers to move up the value chain of manufacturing industry. The new
growth initiatives by goverment in the manufacturing sector such assolar and
medial services can be important drivers of growth apart from helping to
diversify the manufacturing base and contributing to the resilience of the
sector. |
|
|
|
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
|
Incorporated in 1997, the Subject is a Private Limited company, focusing on manufacturing of herbal and pharmaceutical products. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment. 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) |
|
QD HERBS SDN.
BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
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 |
6,868,953 |
4,693,360 |
4,023,847 |
3,746,940 |
3,793,772 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
6,868,953 |
4,693,360 |
4,023,847 |
3,746,940 |
3,793,772 |
|
Costs of Goods Sold |
(5,279,963) |
(3,549,519) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
1,588,990 |
1,143,841 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
337,009 |
251,953 |
120,316 |
226,210 |
47,886 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
337,009 |
251,953 |
120,316 |
226,210 |
47,886 |
|
Taxation |
(79,506) |
(57,588) |
(32,650) |
(50,951) |
(15,641) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
257,503 |
194,365 |
87,666 |
175,259 |
32,245 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
911,103 |
747,652 |
690,900 |
515,641 |
483,396 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
911,103 |
747,652 |
690,900 |
515,641 |
483,396 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,168,606 |
942,017 |
778,566 |
690,900 |
515,641 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(39,975) |
(30,914) |
(30,914) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,128,631 |
911,103 |
747,652 |
690,900 |
515,641 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
|
|
|
Bank overdraft |
8,647 |
23,164 |
- |
- |
- |
|
Lease interest |
18,201 |
5,263 |
- |
- |
- |
|
Term loan / Borrowing |
26,804 |
- |
- |
- |
- |
|
Others |
39,019 |
20,663 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
92,671 |
49,090 |
- |
- |
- |
|
|
============= |
============= |
|
|
|
|
QD HERBS SDN.
BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
905,925 |
832,436 |
665,815 |
651,656 |
696,990 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
905,925 |
832,436 |
665,815 |
651,656 |
696,990 |
|
|
|
|
|
|
|
|
Stocks |
819,301 |
613,640 |
- |
- |
- |
|
Trade debtors |
902,792 |
806,007 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
451,020 |
41,395 |
- |
- |
- |
|
Short term deposits |
845,989 |
821,018 |
- |
- |
- |
|
Cash & bank balances |
177,790 |
148,004 |
- |
- |
- |
|
Others |
3,864 |
31,255 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
3,200,756 |
2,461,319 |
2,207,819 |
2,265,944 |
2,113,799 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
4,106,681 |
3,293,755 |
2,873,634 |
2,917,600 |
2,810,789 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Trade creditors |
574,874 |
372,531 |
- |
- |
- |
|
Other creditors & accruals |
469,659 |
370,144 |
- |
- |
- |
|
Hire purchase & lease creditors |
82,385 |
41,948 |
- |
- |
- |
|
Bank overdraft |
109,362 |
314,379 |
- |
- |
- |
|
Short term borrowings/Term loans |
54,098 |
- |
- |
- |
- |
|
Bill & acceptances payable |
166,070 |
165,056 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,456,448 |
1,264,058 |
985,776 |
1,067,245 |
1,183,776 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,744,308 |
1,197,261 |
1,222,043 |
1,198,699 |
930,023 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
2,650,233 |
2,029,697 |
1,887,858 |
1,850,355 |
1,627,013 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
1,128,631 |
911,103 |
747,652 |
690,900 |
515,641 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
1,128,631 |
911,103 |
747,652 |
690,900 |
515,641 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,194,631 |
1,977,103 |
1,813,652 |
1,756,900 |
1,581,641 |
|
|
|
|
|
|
|
|
Long term loans |
197,706 |
- |
- |
- |
- |
|
Lease obligations |
233,962 |
22,693 |
- |
- |
- |
|
Deferred taxation |
23,934 |
29,901 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
455,602 |
52,594 |
74,206 |
93,455 |
45,372 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,650,233 |
2,029,697 |
1,887,858 |
1,850,355 |
1,627,013 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
QD HERBS SDN.
BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
1,023,779 |
969,022 |
- |
- |
- |
|
Net Liquid Funds |
748,347 |
489,587 |
- |
- |
- |
|
Net Liquid Assets |
925,007 |
583,621 |
1,222,043 |
1,198,699 |
930,023 |
|
Net Current Assets/(Liabilities) |
1,744,308 |
1,197,261 |
1,222,043 |
1,198,699 |
930,023 |
|
Net Tangible Assets |
2,650,233 |
2,029,697 |
1,887,858 |
1,850,355 |
1,627,013 |
|
Net Monetary Assets |
469,405 |
531,027 |
1,147,837 |
1,105,244 |
884,651 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
|
Total Borrowings |
843,583 |
544,076 |
- |
- |
- |
|
Total Liabilities |
1,912,050 |
1,316,652 |
1,059,982 |
1,160,700 |
1,229,148 |
|
Total Assets |
4,106,681 |
3,293,755 |
2,873,634 |
2,917,600 |
2,810,789 |
|
Net Assets |
2,650,233 |
2,029,697 |
1,887,858 |
1,850,355 |
1,627,013 |
|
Net Assets Backing |
2,194,631 |
1,977,103 |
1,813,652 |
1,756,900 |
1,581,641 |
|
Shareholders' Funds |
2,194,631 |
1,977,103 |
1,813,652 |
1,756,900 |
1,581,641 |
|
Total Share Capital |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
1,066,000 |
|
Total Reserves |
1,128,631 |
911,103 |
747,652 |
690,900 |
515,641 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
|
Cash Ratio |
0.70 |
0.77 |
- |
- |
- |
|
Liquid Ratio |
1.64 |
1.46 |
- |
- |
- |
|
Current Ratio |
2.20 |
1.95 |
2.24 |
2.12 |
1.79 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
44 |
48 |
- |
- |
- |
|
Debtors Ratio |
48 |
63 |
- |
- |
- |
|
Creditors Ratio |
40 |
38 |
- |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
|
Gearing Ratio |
0.38 |
0.28 |
- |
- |
- |
|
Liabilities Ratio |
0.87 |
0.67 |
0.58 |
0.66 |
0.78 |
|
Times Interest Earned Ratio |
4.64 |
6.13 |
- |
- |
- |
|
Assets Backing Ratio |
2.49 |
1.90 |
1.77 |
1.74 |
1.53 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
4.91 |
5.37 |
2.99 |
6.04 |
1.26 |
|
Net Profit Margin |
3.75 |
4.14 |
2.18 |
4.68 |
0.85 |
|
Return On Net Assets |
16.21 |
14.83 |
6.37 |
12.23 |
2.94 |
|
Return On Capital Employed |
15.12 |
12.62 |
6.37 |
12.23 |
2.94 |
|
Return On Shareholders' Funds/Equity |
11.73 |
9.83 |
4.83 |
9.98 |
2.04 |
|
Dividend Pay Out Ratio (Times) |
0.16 |
0.16 |
0.35 |
- |
- |
|
NOTES TO
ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.67 |
|
UK Pound |
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
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.