|
Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HANIFFA SDN. BHD. |
|
|
|
|
Formerly Known As : |
HANIFFA TEXTILES SDN BHD (21/05/2007) |
|
|
|
|
Registered Office : |
Wisma Haniffa, 149, Jalan Masjid India, 50100 Kuala Lumpur, Wilayah
Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.12.1976 |
|
|
|
|
Com. Reg. No.: |
30840-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesalers and Retailers of Textiles & Running of Departmental
Stores |
|
|
|
|
No. of Employees |
170 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
30840-D |
|
COMPANY NAME |
: |
HANIFFA SDN. BHD. |
|
FORMER NAME |
: |
HANIFFA TEXTILES SDN BHD (21/05/2007) |
|
INCORPORATION DATE |
: |
29/12/1976 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
WISMA HANIFFA, 149, JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
WISMA HANIFFA, 149 JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-26938620 |
|
FAX.NO. |
: |
03-26912909 |
|
EMAIL |
: |
ADMIN@HANIFFA.COM |
|
CONTACT PERSON |
: |
O K MOHAMED HANIFFA ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
47192 |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALERS AND RETAILERS OF TEXTILES
& RUNNING OF DEPARTMENTAL STORES |
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 30,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 222,637,462 [2012] |
|
NET WORTH |
: |
MYR 44,803,202 [2012] |
|
BANKER (S) |
|
CIMB BANK BHD |
|
STAFF STRENGTH |
: |
170 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
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) wholesalers and
retailers of textiles & running of departmental stores.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
01/04/2013 |
MYR 50,000,000.00 |
MYR 30,000,000.00 |
|
31/12/2011 |
MYR 25,000,000.00 |
MYR 15,300,000.00 |
|
17/12/2002 |
MYR 25,000,000.00 |
MYR 12,000,000.00 |
|
27/10/1999 |
MYR 10,000,000.00 |
MYR 10,000,000.00 |
|
20/10/1995 |
MYR 5,000,000.00 |
MYR 5,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ABDUL SAMAD BIN O K MOHAMED HANIFFA + |
118, KENG LEE ROAD, 10 - 01, 308404, SINGAPORE. |
S7712397J |
1,893,292.00 |
63.11 |
|
MS. RAZINAH BEGUM BINTI O K MOHAMED HANIFFA + |
149, JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
850130-66-5168 |
909,688.00 |
30.32 |
|
SITI ZUBAIDAH HANIFFA + |
118, KENG LEE ROAD, 308404, SINGAPORE. |
S1077315F |
98,510.00 |
3.28 |
|
LUHU FARDHIBA BINTI RA ABU BACKER |
118, KENG LEE ROAD, 308404, SINGAPORE. |
S8072976F |
98,510.00 |
3.28 |
|
|
|
|
--------------- |
------ |
|
|
|
|
3,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. O K MOHAMED HANIFFA @ MOHAMED HANIFFA |
|
Address |
: |
149, JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
New IC No |
: |
400701-75-5055 |
|
Date of Birth |
: |
01/07/1940 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/12/1976 |
DIRECTOR 2
|
Name Of Subject |
: |
SITI ZUBAIDAH HANIFFA |
|
Address |
: |
118, KENG LEE ROAD, 308404, SINGAPORE. |
|
IC / PP No |
: |
S1077315F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
29/12/1976 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. RAZINAH BEGUM BINTI O K MOHAMED HANIFFA |
|
Address |
: |
149, JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
New IC No |
: |
850130-66-5168 |
|
Date of Birth |
: |
30/01/1985 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/06/2005 |
DIRECTOR 4
|
Name Of Subject |
: |
ABDUL SAMAD BIN O K MOHAMED HANIFFA |
|
Address |
: |
118, KENG LEE ROAD, 10 - 01, 308404, SINGAPORE. |
|
IC / PP No |
: |
S7712397J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
17/01/1996 |
|
1) |
Name of Subject |
: |
O K MOHAMED HANIFFA |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
MOHAMMAD IBRAHIM |
|
|
Position |
: |
ACCOUNTANT |
|
|
|
|
|
|
3) |
Name of Subject |
: |
RAFIQ |
|
|
Position |
: |
MARKETING MANAGER |
|
Auditor |
: |
AHAMAD NAINA MYDIN & ASSOCIATES |
|
Auditor' Address |
: |
LOT 1, 14, JALAN KEMUJA, BANGSAR UTAMA, 1ST FLOOR, 59100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. SURINA JENNY BINTI ABDULLAH |
|
|
IC / PP No |
: |
5648847 |
|
|
New IC No |
: |
590403-10-6700 |
|
|
Address |
: |
LOT 3-306, CEMPAKA APARTMENT, JALAN 3/9, BANDAR BARU SELAYANG, 68100
BATU CAVES, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
27/12/1978 |
LETTER OF HYPOTHECATION |
UNITED ASIAN BANK BHD |
MYR 335,000.00 |
Unsatisfied |
|
2 |
27/12/1978 |
DEBENTURE & LETTER OF HYPOTHECATION |
UNITED ASIAN BANK BERHAD |
MYR 165,000.00 |
Unsatisfied |
|
3 |
01/12/1982 |
DEBENTURE |
UNITED ASIAN BANK BERHAD |
MYR 755,000.00 |
Unsatisfied |
|
3U1 |
01/12/1982 |
SUPPLEMENTAL DEBENTURE |
UNITED ASIAN BANK BERHAD |
MYR 430,000.00 |
Unsatisfied |
|
4 |
03/03/1987 |
DEED OF ASSIGNMENT OF BOOK DEBTS |
UNITED ASIAN BANK BERHAD |
MYR 920,000.00 |
Unsatisfied |
|
5 |
01/11/2000 |
N/A |
BSN COMMERCIAL BANK MALAYSIA BERHAD |
MYR 300,000.00 |
Satisfied |
|
6 |
28/01/2003 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 2,850,000.00 |
Satisfied |
|
7 |
28/06/2007 |
FACILITIES AGREEMENT & DEED OF ASSIGNMENT |
CIMB BANK BERHAD |
MYR 5,000,000.00 |
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 |
: |
SINGAPORE,TAIWAN,CHINA,JAPAN |
|
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 |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
30 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
WALK IN CUSTOMERS,END USERS,DEALERS |
|||
|
|
|
|
|
|
|
|
Goods Traded |
: |
TEXTILES
|
|
|
|
|
|
|
|
Services |
: |
DEPARTMENTAL STORE
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
|
Competitor(s) |
: |
AEON CO. (M) BHD
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2014 |
2012 |
2011 |
2010 |
2009 |
|
|||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
170 |
100 |
80 |
70 |
102 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesalers and
retailers of textiles & running of departmental stores.
The Subject has department stores in Klang and Pulau Pinang. The Subject acts
as the headquarters.
The Subject's products can be categorized into the followings:
1) Textiles
2) Ready made garments
3) Fabrics
4) Consumer goods
The Subject sells all kinds of fashionable ready made garments for children,
men and women.
The Subject's Consumer Goods division consists of watches, cosmetics,
electrical goods and others.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-26938620 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
149 JALAN MASJID 50100 KUALA LUMPUR MALAYSIA |
|
Current Address |
: |
WISMA HANIFFA, 149 JALAN MASJID INDIA, 50100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 18th August 2014, we contacted one of the staff from HR Department of the
Subject and she provided some information.
The address provided is incomplete.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.64% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
21.02% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
dip in profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Unfavourable |
[ |
75 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
9 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
: |
Unfavourable |
[ |
0.55 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.82 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
24.16 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.07 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 was lowly
geared thus it had a low financial risk. The Subject was mainly financed by
its shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the
Subject's profit margin. Due to its weak liquidity position, the Subject will
be faced with problems in meeting all its short term obligations if no short
term loan is obtained or additional capital injected into the Subject. With
the favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
|
|
|
|
|
|
|
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 |
|
|
47192 : Department stores and supermarket |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
According to the Retail Group Malaysia (RGM), the wholesale and retail
trade sector forecast to grow to 6% in year 2013. During the first quarter of
year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers
have been enjoying better sales since the government handed out cash from
mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to
more than 12 million Malaysians. Bookstores and related retail stores have
also started enjoying rising sales since the RM250 1Malaysia Book Voucher was
distributed to 1.3 million private and public university students. Besides,
since early February 2013, handphone traders and retailers selling smartphone
accessories have started to benefit from the RM200 rebate on smartphones for
1.5 million young adults aged between 21 and 30 years with a monthly income
of not more than RM3,000. |
|
|
|
|
|
The wholesale and retail trade sector grew 6.1% in the first half of
the year 2012 driven by strong domestic consumption and the increasing number
of large format stores operating in Malaysia, including 180 foreign
hypermarkets, superstores and departmental stores as at end of August 2012.
In addition, other indicators such as imports of consumption goods were
higher by 15.2%. |
|
|
|
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven
by higher consumption which benefited from Government initiatives under the
2012 Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100
assistance for all primary and secondary school students. The performance of
the sector will also be supported by ongoing efforts to modernise the retail
segment under the ETP. In 2012, 500 retail shops and 50 workshops are
targeted to be modernised under the Retail Shop Transformation (TUKAR) and
Automotive Workshop Modernisation (ATOM) programmes, respectively. As at end
of July 2012, 95 workshops have been modernised, surpassing the yearly
target, while 393 retail shops have been modernised. |
|
|
|
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy. Major
initiatives include increasing the number of large format stores such as
hypermarkets, superstores and departmental stores are carried out to boost
the economy. |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption, therefore the wholesale and retail sector plays a crucial role
in driving Malaysia's growth over the next decade despite the ongoing global
economic slowdown. By 2020, Malaysia's wholesale and retail sector is
expected to boost the country's total Gross National Income (GNI) by RM156 billion,
creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
HANIFFA 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 |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
222,637,462 |
200,308,532 |
178,695,227 |
135,338,522 |
123,780,290 |
|
Other Income |
1,688,015 |
1,250,980 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
224,325,477 |
201,559,512 |
178,695,227 |
135,338,522 |
123,780,290 |
|
Costs of Goods Sold |
(204,284,564) |
(182,855,646) |
(165,223,844) |
(123,889,156) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
20,040,913 |
18,703,866 |
13,471,383 |
11,449,366 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
9,026,295 |
9,094,235 |
6,319,187 |
4,760,929 |
3,649,750 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
9,026,295 |
9,094,235 |
6,319,187 |
4,760,929 |
3,649,750 |
|
Taxation |
(2,465,409) |
(2,401,312) |
(1,843,463) |
(968,923) |
(973,780) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
6,560,886 |
6,692,923 |
4,475,724 |
3,792,006 |
2,675,970 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
8,605,693 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
8,605,693 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
29,503,202 |
22,942,316 |
16,249,393 |
15,073,669 |
11,281,663 |
|
CAPITALISATION FOR BONUS ISSUES |
- |
- |
- |
(3,300,000) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
29,503,202 |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
389,664 |
378,632 |
332,938 |
173,168 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
389,664 |
378,632 |
332,938 |
173,168 |
- |
|
|
============= |
============= |
============= |
============= |
|
|
HANIFFA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
4,134,026 |
4,551,431 |
4,966,286 |
4,994,008 |
312,077 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
4,134,026 |
4,551,431 |
4,966,286 |
4,994,008 |
312,077 |
|
|
|
|
|
|
|
|
Stocks |
45,467,661 |
33,518,507 |
25,749,561 |
25,217,395 |
- |
|
Other debtors, deposits & prepayments |
211,486 |
580,345 |
521,368 |
1,036,654 |
- |
|
Amount due from related companies |
2,823,748 |
5,606,698 |
8,552,000 |
7,039,837 |
- |
|
Cash & bank balances |
2,799,511 |
5,245,807 |
680,113 |
801,154 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
51,302,406 |
44,951,357 |
35,503,042 |
34,095,040 |
32,792,336 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
55,436,432 |
49,502,788 |
40,469,328 |
39,089,048 |
33,104,413 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
5,168,067 |
3,830,993 |
3,008,454 |
4,605,462 |
- |
|
Other creditors & accruals |
62,828 |
86,919 |
271,259 |
286,214 |
- |
|
Bank overdraft |
- |
- |
347,242 |
19,895 |
- |
|
Bill & acceptances payable |
3,018,000 |
3,631,000 |
2,675,000 |
2,902,000 |
- |
|
Amounts owing to related companies |
- |
- |
- |
1,682,859 |
- |
|
Amounts owing to director |
2,133,087 |
2,658,489 |
2,082,945 |
2,434,931 |
- |
|
Provision for taxation |
251,248 |
1,053,071 |
535,035 |
48,018 |
- |
|
Other liabilities |
- |
- |
- |
36,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
10,633,230 |
11,260,472 |
8,919,935 |
12,015,379 |
9,822,750 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
40,669,176 |
33,690,885 |
26,583,107 |
22,079,661 |
22,969,586 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
15,300,000 |
15,300,000 |
15,300,000 |
15,300,000 |
12,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
15,300,000 |
15,300,000 |
15,300,000 |
15,300,000 |
12,000,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
29,503,202 |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
29,503,202 |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
HANIFFA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
2,799,511 |
5,245,807 |
680,113 |
801,154 |
- |
|
Net Liquid Funds |
(218,489) |
1,614,807 |
(2,342,129) |
(2,120,741) |
- |
|
Net Liquid Assets |
(4,798,485) |
172,378 |
833,546 |
(3,137,734) |
22,969,586 |
|
Net Current Assets/(Liabilities) |
40,669,176 |
33,690,885 |
26,583,107 |
22,079,661 |
22,969,586 |
|
Net Tangible Assets |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
Net Monetary Assets |
(4,798,485) |
172,378 |
833,546 |
(3,137,734) |
22,969,586 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
3,018,000 |
3,631,000 |
3,022,242 |
2,921,895 |
- |
|
Total Liabilities |
10,633,230 |
11,260,472 |
8,919,935 |
12,015,379 |
9,822,750 |
|
Total Assets |
55,436,432 |
49,502,788 |
40,469,328 |
39,089,048 |
33,104,413 |
|
Net Assets |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
Net Assets Backing |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
Shareholders' Funds |
44,803,202 |
38,242,316 |
31,549,393 |
27,073,669 |
23,281,663 |
|
Total Share Capital |
15,300,000 |
15,300,000 |
15,300,000 |
15,300,000 |
12,000,000 |
|
Total Reserves |
29,503,202 |
22,942,316 |
16,249,393 |
11,773,669 |
11,281,663 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.26 |
0.47 |
0.08 |
0.07 |
- |
|
Liquid Ratio |
0.55 |
1.02 |
1.09 |
0.74 |
- |
|
Current Ratio |
4.82 |
3.99 |
3.98 |
2.84 |
3.34 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
75 |
61 |
53 |
68 |
- |
|
Debtors Ratio |
0 |
0 |
0 |
0 |
- |
|
Creditors Ratio |
9 |
8 |
7 |
14 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.07 |
0.09 |
0.10 |
0.11 |
- |
|
Liabilities Ratio |
0.24 |
0.29 |
0.28 |
0.44 |
0.42 |
|
Times Interest Earned Ratio |
24.16 |
25.02 |
19.98 |
28.49 |
- |
|
Assets Backing Ratio |
2.93 |
2.50 |
2.06 |
1.77 |
1.94 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
4.05 |
4.54 |
3.54 |
3.52 |
2.95 |
|
Net Profit Margin |
2.95 |
3.34 |
2.50 |
2.80 |
2.16 |
|
Return On Net Assets |
21.02 |
24.77 |
21.08 |
18.22 |
15.68 |
|
Return On Capital Employed |
21.02 |
24.77 |
20.86 |
18.21 |
15.68 |
|
Return On Shareholders' Funds/Equity |
14.64 |
17.50 |
14.19 |
14.01 |
11.49 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.