|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAN MIGUEL YAMAMURA PACKAGING & PRINTING SDN. BHD. |
|
|
|
|
Formerly Known As : |
SAN MIGUEL PACKAGING & PRINTING SDN
BHD |
|
|
|
|
Registered Office : |
50-8-1, Wisma Uoa Damansara, 50, Jalan Dungun, Damansara Heights, 8th
Floor, 50490 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
20.12.1973 |
|
|
|
|
Com. Reg. No.: |
16859-M |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Manufacturing of Flexible Packaging Materials |
|
|
|
|
No. of Employees : |
250 |
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. |
: |
16859-M |
||||
|
COMPANY NAME |
: |
SAN MIGUEL
YAMAMURA PACKAGING & PRINTING SDN. BHD. |
||||
|
FORMER NAME |
: |
SAN MIGUEL PACKAGING & PRINTING SDN
BHD (12/09/2008) |
||||
|
INCORPORATION DATE |
: |
20/12/1973 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
50-8-1, WISMA UOA DAMANSARA, 50, JALAN
DUNGUN, DAMANSARA HEIGHTS, 8TH FLOOR, 50490 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 5078 & 5079, JALAN JENJAROM 28/39,
SEKSYEN 28, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51916588 |
||||
|
FAX.NO. |
: |
03-51916614 |
||||
|
WEB SITE |
: |
WWW.SANMIGUEL.COM |
||||
|
CONTACT PERSON |
: |
CHUA BOON POCK ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
17020 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF FLEXIBLE PACKAGING
MATERIALS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 33,300,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 73,198,000 [2012] |
||||
|
NET WORTH |
: |
MYR 49,371,000 [2012] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
250 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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) manufacturing
of flexible packaging materials.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is SAN MIGUEL YAMAMURA
PACKAGING INTERNATIONAL LIMITED, a company incorporated in HONG KONG.
The ultimate holding company of the Subject is SAN MIGUEL CORPORATION, a
company incorporated in PHILIPPINES.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
26/06/2013 |
MYR 50,000,000.00 |
MYR 33,300,000.00 |
|
13/02/1992 |
MYR 10,000,000.00 |
MYR 3,700,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SAN MIGUEL YAMAMURA PACKAGING INTERNATIONAL LIMITED |
C/O NEPTUNIA CORPORATION LIMITED, 9/F, CITIMARK BUILDING, 28, YUEN
SHUN CIRCUIT, SIU LEK YUEN, SHATIN, N.T, HONG KONG. |
XLZ00213792 |
33,300,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
33,300,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHUA BOON POCK |
|
Address |
: |
JALAN U13/19 - 48, SETIA ALAM, KOTA ANGGERIK, 41140 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
631108-10-5279 |
|
Date of Birth |
: |
08/11/1963 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
20/12/2006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MS. FONG LEE SIANG |
|
Address |
: |
39, JALAN WAWASAN 2/2, PUSAT BANDAR PUCHONG, 47100 PUCHONG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
6974359 |
|
New IC No |
: |
630228-05-5304 |
|
Date of Birth |
: |
28/02/1963 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
14/03/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
FERDINAND ACOBA TUMPALAN |
|
Address |
: |
1, CAMELLA DRIVE, CAMELLA2, ALABANG, MUNTINLUPA, PHILIPPINES. |
|
IC / PP No |
: |
XX1953922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FILIPINO |
|
Date of Appointment |
: |
28/01/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
RAMON SEE ANG |
|
Address |
: |
40, SA MIGUEL AVENUE, MANDALUYONG CITY, PHILIPPINES. |
|
IC / PP No |
: |
XX4227006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FILIPINO |
|
Date of Appointment |
: |
28/01/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
YUKI UETAKA |
|
Address |
: |
43C, PACIFIC PLAZA TOWER CONDOMINIUM, THE FORT BONIFACIO GLOBAL CITY,
TAGUIG, 1360, PHILIPPINES. |
|
IC / PP No |
: |
TH2635037 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/02/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
CHUA BOON POCK |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
WILSON |
|
|
Position |
: |
GENERAL MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
FONG LEE SIANG |
|
|
Position |
: |
FINANCE MANAGER |
|
|
|
|
|
|
4) |
Name of Subject |
: |
DAVID GAN |
|
|
Position |
: |
SALES MANAGER |
|
|
|
|
|
|
5) |
Name of Subject |
: |
PUSHPA |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
6) |
Name of Subject |
: |
MURALI |
|
|
Position |
: |
PRODUCTION MANAGER |
|
|
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, LEVEL 10, 47800 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. LEW OY FOONG |
|
|
IC / PP No |
: |
A1772630 |
|
|
New IC No |
: |
701230-10-6436 |
|
|
Address |
: |
17, JALAN SL 7/12, BANDAR SUNGAI LONG, BATU 11 1/4, JALAN CHERAS,
43000 KAJANG, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with:
|
1) |
Name |
: |
HONG LEONG BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
STANDARD CHARTERED BANK MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
|
1 |
04/02/1976 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 150,000.00 |
Satisfied |
|
|
2 |
04/02/1976 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 50,000.00 |
Satisfied |
|
|
8 |
04/02/1976 |
N/A |
HONGKONG SHANGHAI BANKING CORP |
- |
Satisfied |
|
|
10 |
04/02/1976 |
N/A |
HONGKONG SHANGHAI BANKING CORP |
MYR 840,000.00 |
Satisfied |
|
|
12 |
04/02/1976 |
N/A |
THE HONGKONG SHANGHAI BANGKING CORP |
MYR 477,000.00 |
Satisfied |
|
|
4 |
04/10/1976 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 100,000.00 |
Satisfied |
|
|
3 |
18/10/1976 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 300,000.00 |
Satisfied |
|
|
7 |
18/10/1976 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 140,000.00 |
Satisfied |
|
|
9 |
18/10/1976 |
N/A |
HONGKONG SHANGHAI BANKING CORP |
MYR 840,000.00 |
Satisfied |
|
|
11 |
18/10/1976 |
N/A |
HONGKONG SHANGHAI BANKING CORP |
MYR 1,000,000.00 |
Satisfied |
|
|
5 |
14/07/1977 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 200,000.00 |
Satisfied |
|
|
6 |
05/08/1977 |
N/A |
THE HONGKONG SHANGHAI BANKING CORP |
MYR 200,000.00 |
Satisfied |
|
* 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 |
: |
EUROPE,ASIA |
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 |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
80% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
FOOD MANUFACTURERS,ELECTRICAL &
ELECTRONIC INDUSTRIES,PHARMACEUTICAL INDUSTRIES,PLASTIC MANUFACTURER |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMALL & MEDIUM ENTERPRISE |
|
|
|
|
|
|
|
Ownership of premises |
: |
OWNED
|
|
|
Factory Size |
: |
LOT 5078 (90,912 SQ FT) & LOT 5079(142,112 SQ FT)
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
250 |
250 |
250 |
220 |
200 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
flexible packaging materials.
The Subject's Converting Division is involved in the printing and lamination of
flexible packaging material for the food industries.
The Subject's production lines cater for both fluted and folding cartons
conversion and finishing.
We were informed that the Subject's factory is equipped with both automated and
semi-automated machineries.
|
|
Latest fresh investigations carried out on the Subject indicated that:
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-51916588 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LOT 5078 & 5079, JALAN JENJAROM 28/39, SEKSYEN 28,40000,SHAH
ALAM,SELANGOR. |
|
Current Address |
: |
LOT 5078 & 5079, JALAN JENJAROM 28/39, SEKSYEN 28, 40000 SHAH
ALAM, 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 |
[ |
11.67% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.58% |
] |
|
|
|
|
|
|
|
|
|
|
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 |
[ |
41 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
73 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
52 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. 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 |
[ |
2.00 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.42 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 |
[ |
103.87 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 : |
|
|
|
|
|
|
|
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. With the favourable interest cover, the Subject could be
able to service all the accrued interest without facing any difficulties. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : STRONG |
||||||
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
(1.1) |
(3.4) |
10.8 |
(2.8) |
- |
|
Rubber |
(19.8) |
9.9 |
6.1 |
(0.6) |
- |
|
Forestry & Logging |
(5.9) |
(3.3) |
(7.6) |
(2.2) |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
(0.7) |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
(3.8) |
0.2 |
(5.7) |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
(1.7) |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
(9.4) |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.9) |
1.6 |
- |
|
Rubber Products |
(10.1) |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
(24.1) |
20.1 |
(4.9) |
4.6 |
- |
|
Textiles & Apparel |
(19.5) |
(0.4) |
14.8 |
(7.1) |
- |
|
Domestic-oriented Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
(2.5) |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
(15.5) |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
(13.5) |
36.5 |
(10.4) |
13.7 |
- |
|
Paper & Paper Products |
(5.0) |
18.7 |
14.8 |
(7.8) |
- |
|
Crude Oil Refineries |
0.2 |
(11.4) |
9.3 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production Index |
|||||
|
MSIC CODE |
|
|
17020 : Manufacture of corrugated paper and paperboard and of
containers of paper and paperboard |
|
|
|
|
|
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 1973, the Subject is a Private Limited company, focusing
on manufacturing of flexible packaging materials. The Subject has been in
business for over 4 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 penetrated into both the local and overseas market.
The Subject has positioned itself in the global market and is competing in the
industry. Its stable clientele base will enable the Subject to further enhance
its business in the near term. The Subject is a fairly large and rapidly
growing company with over 250 staff in its operations. 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.
Despite the lower turnover, the Subject's pre-tax profit have increased
compared to the previous year. The higher profit could be due to better control
of its operating costs and efficiency in utilising its resources. 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 zero geared company, the Subject
virtually has no financial risk as it is mainly dependent on its internal funds
to finance its business. Given a positive net worth standing at MYR 49,371,000,
the Subject should be able to maintain its business in the near terms.
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 payment habit is average. With its adequate working capital, the
Subject should be able to pay its short term debts.
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
promptly.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
SAN MIGUEL
YAMAMURA PACKAGING & PRINTING 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 |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
73,198,000 |
74,281,000 |
71,355,000 |
67,300,000 |
84,242,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
73,198,000 |
74,281,000 |
71,355,000 |
67,300,000 |
84,242,000 |
|
Costs of Goods Sold |
(63,050,000) |
(66,407,000) |
(62,852,000) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
10,148,000 |
7,874,000 |
8,503,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
7,201,000 |
5,667,000 |
3,019,000 |
6,841,000 |
382,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
7,201,000 |
5,667,000 |
3,019,000 |
6,841,000 |
382,000 |
|
Taxation |
(1,439,000) |
(1,967,000) |
(232,000) |
(1,092,000) |
1,392,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
5,762,000 |
3,700,000 |
2,787,000 |
5,749,000 |
1,774,000 |
|
Pre-acquisition profit/(loss) |
- |
- |
- |
(3,997,000) |
(889,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
5,762,000 |
3,700,000 |
2,787,000 |
1,752,000 |
885,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
5,762,000 |
3,700,000 |
2,787,000 |
1,752,000 |
885,000 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
23,269,000 |
16,043,000 |
16,761,000 |
15,009,000 |
14,919,000 |
|
Prior year adjustment |
- |
4,456,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
23,269,000 |
20,499,000 |
16,761,000 |
15,009,000 |
14,919,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
29,031,000 |
24,199,000 |
19,548,000 |
16,761,000 |
15,804,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(12,960,000) |
(930,000) |
(3,505,000) |
- |
(795,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
16,071,000 |
23,269,000 |
16,043,000 |
16,761,000 |
15,009,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
70,000 |
79,000 |
73,000 |
75,000 |
139,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
70,000 |
79,000 |
73,000 |
75,000 |
139,000 |
|
|
============= |
============= |
============= |
============= |
============= |
SAN MIGUEL YAMAMURA PACKAGING & PRINTING SDN. BHD.
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
15,280,000 |
15,830,000 |
18,455,000 |
21,067,000 |
17,469,000 |
|
|
|
|
|
|
|
|
Deferred assets |
3,465,000 |
4,429,000 |
1,463,000 |
1,619,000 |
2,700,000 |
|
Others |
3,250,000 |
5,050,000 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
6,715,000 |
9,479,000 |
1,463,000 |
1,619,000 |
2,700,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
21,995,000 |
25,309,000 |
19,918,000 |
22,686,000 |
20,169,000 |
|
|
|
|
|
|
|
|
Stocks |
8,232,000 |
9,345,000 |
8,616,000 |
7,279,000 |
12,932,000 |
|
Trade debtors |
14,609,000 |
18,620,000 |
15,791,000 |
15,968,000 |
24,353,000 |
|
Other debtors, deposits & prepayments |
430,000 |
1,165,000 |
4,097,000 |
4,174,000 |
1,057,000 |
|
Short term deposits |
16,500,000 |
9,800,000 |
10,800,000 |
- |
- |
|
Amount due from related companies |
45,000 |
117,000 |
121,000 |
101,000 |
831,000 |
|
Cash & bank balances |
5,837,000 |
5,909,000 |
3,045,000 |
15,124,000 |
6,942,000 |
|
Others |
1,800,000 |
1,800,000 |
383,000 |
317,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
47,453,000 |
46,756,000 |
42,853,000 |
42,963,000 |
46,115,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
69,448,000 |
72,065,000 |
62,771,000 |
65,649,000 |
66,284,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
9,047,000 |
10,954,000 |
6,278,000 |
6,459,000 |
7,421,000 |
|
Other creditors & accruals |
1,003,000 |
3,462,000 |
2,017,000 |
3,511,000 |
2,085,000 |
|
Bank overdraft |
- |
- |
- |
- |
318,000 |
|
Amounts owing to related companies |
219,000 |
479,000 |
4,716,000 |
5,238,000 |
6,072,000 |
|
Provision for taxation |
42,000 |
143,000 |
- |
- |
- |
|
Dividends payable/proposed |
- |
- |
- |
- |
795,000 |
|
Other liabilities |
9,260,000 |
- |
- |
- |
261,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
19,571,000 |
15,038,000 |
13,011,000 |
15,208,000 |
16,952,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
27,882,000 |
31,718,000 |
29,842,000 |
27,755,000 |
29,163,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
49,877,000 |
57,027,000 |
49,760,000 |
50,441,000 |
49,332,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
16,071,000 |
23,269,000 |
16,043,000 |
16,761,000 |
15,009,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
16,071,000 |
23,269,000 |
16,043,000 |
16,761,000 |
15,009,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
49,371,000 |
56,569,000 |
49,343,000 |
50,061,000 |
48,309,000 |
|
|
|
|
|
|
|
|
Retirement benefits provision |
506,000 |
458,000 |
417,000 |
380,000 |
1,023,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
506,000 |
458,000 |
417,000 |
380,000 |
1,023,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
49,877,000 |
57,027,000 |
49,760,000 |
50,441,000 |
49,332,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SAN MIGUEL YAMAMURA PACKAGING & PRINTING SDN. BHD.
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
22,337,000 |
15,709,000 |
13,845,000 |
15,124,000 |
6,942,000 |
|
Net Liquid Funds |
22,337,000 |
15,709,000 |
13,845,000 |
15,124,000 |
6,624,000 |
|
Net Liquid Assets |
19,650,000 |
22,373,000 |
21,226,000 |
20,476,000 |
16,231,000 |
|
Net Current Assets/(Liabilities) |
27,882,000 |
31,718,000 |
29,842,000 |
27,755,000 |
29,163,000 |
|
Net Tangible Assets |
49,877,000 |
57,027,000 |
49,760,000 |
50,441,000 |
49,332,000 |
|
Net Monetary Assets |
19,144,000 |
21,915,000 |
20,809,000 |
20,096,000 |
15,208,000 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
0 |
318,000 |
|
Total Liabilities |
20,077,000 |
15,496,000 |
13,428,000 |
15,588,000 |
17,975,000 |
|
Total Assets |
69,448,000 |
72,065,000 |
62,771,000 |
65,649,000 |
66,284,000 |
|
Net Assets |
49,877,000 |
57,027,000 |
49,760,000 |
50,441,000 |
49,332,000 |
|
Net Assets Backing |
49,371,000 |
56,569,000 |
49,343,000 |
50,061,000 |
48,309,000 |
|
Shareholders' Funds |
49,371,000 |
56,569,000 |
49,343,000 |
50,061,000 |
48,309,000 |
|
Total Share Capital |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
33,300,000 |
|
Total Reserves |
16,071,000 |
23,269,000 |
16,043,000 |
16,761,000 |
15,009,000 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
1.14 |
1.04 |
1.06 |
0.99 |
0.41 |
|
Liquid Ratio |
2.00 |
2.49 |
2.63 |
2.35 |
1.96 |
|
Current Ratio |
2.42 |
3.11 |
3.29 |
2.83 |
2.72 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
41 |
46 |
44 |
39 |
56 |
|
Debtors Ratio |
73 |
91 |
81 |
87 |
106 |
|
Creditors Ratio |
52 |
60 |
36 |
35 |
32 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Liabilities Ratio |
0.41 |
0.27 |
0.27 |
0.31 |
0.37 |
|
Times Interest Earned Ratio |
103.87 |
72.73 |
42.36 |
92.21 |
3.75 |
|
Assets Backing Ratio |
1.50 |
1.71 |
1.49 |
1.51 |
1.48 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
9.84 |
7.63 |
4.23 |
10.16 |
0.45 |
|
Net Profit Margin |
7.87 |
4.98 |
3.91 |
2.60 |
1.05 |
|
Return On Net Assets |
14.58 |
10.08 |
6.21 |
13.71 |
1.06 |
|
Return On Capital Employed |
14.58 |
10.08 |
6.21 |
13.71 |
1.05 |
|
Return On Shareholders' Funds/Equity |
11.67 |
6.54 |
5.65 |
3.50 |
1.83 |
|
Dividend Pay Out Ratio (Times) |
2.25 |
0.25 |
1.26 |
0.00 |
0.90 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.