|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
63A, Jalan Ss25/2, Taman |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.01.2013 |
|
|
|
|
Date of Incorporation : |
26.11.2011 |
|
|
|
|
Com. Reg. No.: |
923488-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of injection molding machine |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with 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. |
: |
923488-U |
|
COMPANY NAME |
: |
K2 MACHINERY SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
26/11/2010 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
63A, JALAN SS25/2, TAMAN BUKIT EMAS, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
1-12, JALAN PUTERI 7/13A, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
HP.NO. |
: |
0102777793 |
|
CONTACT PERSON |
: |
ZHANG KUIKUI ( DIRECTOR ) |
|
|
|
|
|
INDUSTRY CODE |
: |
46594 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF INJECTION MOLDING MACHINE |
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00
DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,500,000.00
DIVIDED INTO |
|
|
|
|
|
SALES |
: |
MYR 428,484 [2013] |
|
NET WORTH |
: |
MYR 2,312,652 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading of injection molding machine.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
31/07/2013 |
MYR 5,000,000.00 |
MYR 2,500,000.00 |
|
26/11/2010 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHENG LINWU + |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI 9/1, 47100 PUCHONG, SELANGOR, MALAYSIA. |
G47002473 |
1,250,000.00 |
50.00 |
|
LU KANKAN + |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
G33035591 |
1,150,000.00 |
46.00 |
|
YING KAN + |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
G40733817 |
100,000.00 |
4.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
2,500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ZHANG KUIKUI |
|
Address |
: |
C-06-03, ASEAN PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
G34704152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
26/11/2010 |
|
Remark |
: |
ALTERNATE TO CHENG LINWU |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
YING KAN |
|
Address |
: |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
G40733817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
24/01/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
LU KANKAN |
|
Address |
: |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
G33035591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
26/11/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
CHENG LINWU |
|
Address |
: |
C-06-03, ASEANA PUTERI, CONDOMINIUM, JALAN PUTERI 9/1, BANDAR PUTERI 9/1, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
G47002473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
26/11/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
ZHANG KUIKUI |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. CHONG SOOK FURN |
|
|
IC / PP No |
: |
6943792 |
|
|
New IC No |
: |
621225-08-5300 |
|
|
Address |
: |
NO. 65, JALAN SS 22/22, DAMANSARA JAYA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT
|
* 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.
DEFAULTER CHECK AGAINST SUBJECT
|
* 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.
PAYMENT RECORD
|
|
|
|
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
INJECTION MOLDING MACHINE
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of injection
molding machine.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
0102777793 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
1-12, JALAN PUTERI 7/13A, BANDAR PUTERI 47100 PUCHANG SELANGOR |
|
Current Address |
: |
1-12, JALAN PUTERI 7/13A, BANDAR PUTERI, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the Subject's Director Ms Zhang and she refused to disclose
any information on the Subject.
The Subject can only be contacted via mobile at 0102777793
She refused to disclose the Subject's fax number and number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
(0.00%) |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(3.48%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(3.98%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(3.98%) |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market condition.The Subject could be more efficient in controlling its operating costs and had managed to reduce its losses during the year. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
50.70 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
50.70 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The higher turnover had helped to reduce the Subject's losses. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
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 |
28,876 |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
21,984 |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
12.3 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.1 |
2.4 |
5.8 |
1.3 |
2.1 |
|
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 |
(6.5) |
(0.3) |
(5.4) |
1.0 |
0.7 |
|
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 # |
(9.0) |
11.9 |
4.7 |
4.8 |
3.5 |
|
Exported-oriented Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.0) |
12.7 |
18.6 |
|
Rubber Products |
(10.1) |
25.3 |
20.7 |
3.0 |
8.2 |
|
Wood Products |
(24.1) |
20.1 |
(5.1) |
8.7 |
(3.1) |
|
Textiles & Apparel |
(19.5) |
(0.4) |
13.2 |
(7.1) |
(2.6) |
|
Domestic-oriented Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.8 |
2.7 |
3.6 |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
10.0 |
10.8 |
(0.7) |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.2 |
(6.6) |
3.4 |
|
Fabricated Metal Products |
(2.5) |
14.9 |
21.8 |
13.8 |
12.2 |
|
Non-metallic Mineral |
(15.5) |
20.2 |
12.1 |
2.9 |
(0.4) |
|
Transport Equipment |
(13.5) |
36.5 |
12.0 |
3.4 |
13.8 |
|
Paper & Paper Products |
(5.0) |
18.7 |
9.5 |
3.1 |
2.3 |
|
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 |
6.2 |
11.4 |
4.7 |
18.6 |
10.9 |
|
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 |
2.9 |
7.4 |
7.1 |
6.4 |
5.9 |
|
Electric, Gas & Water |
1.4 |
7.8 |
3.5 |
4.4 |
4.2 |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.1 |
7.3 |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
4.7 |
5.9 |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.9 |
9.7 |
3.7 |
|
Government Services |
3.4 |
5.9 |
12.4 |
9.4 |
8.3 |
|
Other Services |
3.8 |
4.4 |
5.1 |
3.9 |
5.1 |
|
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 |
|
|
|
|
|
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
46594 : Wholesale of industrial machinery, equipment and supplies |
|
|
|
|
|
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 |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
K2 MACHINERY SDN. BHD. |
|
Financial Year End |
2013-01-31 |
2012-01-31 |
|
Months |
12 |
14 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
|
|
|
|
TURNOVER |
428,484 |
- |
|
|
---------------- |
---------------- |
|
Total Turnover |
428,484 |
- |
|
Costs of Goods Sold |
(409,609) |
- |
|
|
---------------- |
---------------- |
|
Gross Profit |
18,875 |
- |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(92,013) |
(95,335) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(92,013) |
(95,335) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(92,013) |
(95,335) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
(95,335) |
- |
|
|
---------------- |
---------------- |
|
As restated |
(95,335) |
- |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(187,348) |
(95,335) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(187,348) |
(95,335) |
|
|
============= |
============= |
|
|
|
|
|
K2 MACHINERY SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
14,520 |
- |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
14,520 |
- |
|
|
|
|
|
Short term deposits |
65,220 |
48,192 |
|
Amount due from director |
2,257,291 |
- |
|
Cash & bank balances |
21,859 |
7,359 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2,344,370 |
55,551 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
2,358,890 |
55,551 |
|
|
============= |
============= |
|
|
|
|
|
Other creditors & accruals |
46,238 |
1,845 |
|
Amounts owing to director |
- |
149,039 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
46,238 |
150,884 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
2,298,132 |
(95,333) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
2,312,652 |
(95,333) |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
2,500,000 |
2 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
2,500,000 |
2 |
|
|
|
|
|
Retained profit/(loss) carried forward |
(187,348) |
(95,335) |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
(187,348) |
(95,335) |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,312,652 |
(95,333) |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
2,312,652 |
(95,333) |
|
|
============= |
============= |
|
|
|
|
|
K2 MACHINERY SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
87,079 |
55,551 |
|
Net Liquid Funds |
87,079 |
55,551 |
|
Net Liquid Assets |
2,298,132 |
(95,333) |
|
Net Current Assets/(Liabilities) |
2,298,132 |
(95,333) |
|
Net Tangible Assets |
2,312,652 |
(95,333) |
|
Net Monetary Assets |
2,298,132 |
(95,333) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
46,238 |
150,884 |
|
Total Assets |
2,358,890 |
55,551 |
|
Net Assets |
2,312,652 |
(95,333) |
|
Net Assets Backing |
2,312,652 |
(95,333) |
|
Shareholders' Funds |
2,312,652 |
(95,333) |
|
Total Share Capital |
2,500,000 |
2 |
|
Total Reserves |
(187,348) |
(95,335) |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
1.88 |
0.37 |
|
Liquid Ratio |
50.70 |
0.37 |
|
Current Ratio |
50.70 |
0.37 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.02 |
(1.58) |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
0.93 |
(47,666.50) |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
(21.47) |
0.00 |
|
Net Profit Margin |
(21.47) |
0.00 |
|
Return On Net Assets |
(3.98) |
100.00 |
|
Return On Capital Employed |
(3.98) |
100.00 |
|
Return On Shareholders' Funds/Equity |
(3.98) |
100.00 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.