|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAMAWAR ELEKTRIKA SDN. BHD. |
|
|
|
|
Formerly Known As : |
MAXLANE SDN. BHD. (15/08/2011) |
|
|
|
|
Registered Office : |
17-4-1, Jalan 3/50, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
16.10.1997 |
|
|
|
|
Com. Reg. No.: |
450225-V |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Electrical Switches |
|
|
|
|
No. of Employees : |
55 |
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 : |
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. |
: |
450225-V |
|
COMPANY NAME |
: |
SHAMAWAR ELEKTRIKA SDN. BHD. |
|
FORMER NAME |
: |
MAXLANE SDN. BHD. (15/08/2011) |
|
INCORPORATION DATE |
: |
16/10/1997 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
17-4-1, JALAN 3/50, DIAMOND SQUARE COMMERCIAL CENTRE, OFF JALAN
GOMBAK, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
30, JALAN PERKAKA 8/4, SECTION 8, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-61418364 |
|
FAX.NO. |
: |
03-61418367 |
|
EMAIL |
: |
INQUIRIES@SHAMAWARELEKTRIKA.COM.MY |
|
WEB SITE |
: |
WWW.SHAMAWARELEKTRIKA.COM.MY |
|
CONTACT PERSON |
: |
ANI MAWAR BT ABDULLAH ( CEO ) |
|
INDUSTRY CODE |
: |
27 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF ELECTRICAL SWITCHES |
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 350,000.00 DIVIDED INTO |
|
BANKER (S) |
|
BANK PERUSAHAAN KECIL & SEDERHANA
MALAYSIA BHD |
|
SALES |
: |
MYR 11,645,026 [2012] |
|
NET WORTH |
: |
MYR 3,138,799 [2012] |
|
STAFF STRENGTH |
: |
55 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
SATISFACTORY |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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 electrical switches.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 350,000.00 |
|
02/05/2003 |
MYR 100,000.00 |
MYR 100,000.00 |
|
19/03/2003 |
MYR 100,000.00 |
MYR 16,579.00 |
|
15/10/2002 |
MYR 100,000.00 |
MYR 6,579.00 |
|
16/10/1997 |
MYR 100,000.00 |
MYR 100.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DATIN ANI MAWAR BINTI ABDULLAH + |
12A, JALAN KENYALANG 11/15F, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
690207-08-5840 A1205218 |
245,000.00 |
70.00 |
|
DATO' SHAKIR HUSEIN BIN KALID |
12A, JALAN KENYALANG 11/15F, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
680220-04-5529 A0982311 |
105,000.00 |
30.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
350,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
DATO' SHAKIR HUSEIN BIN KALID |
|
Address |
: |
12A, JALAN KENYALANG 11/15F, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A0982311 |
|
New IC No |
: |
680220-04-5529 |
|
Date of Birth |
: |
20/02/1968 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2002 |
DIRECTOR 2
|
Name Of Subject |
: |
DATIN ANI MAWAR BINTI ABDULLAH |
|
Address |
: |
12A, JALAN KENYALANG 11/15F, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1205218 |
|
New IC No |
: |
690207-08-5840 |
|
Date of Birth |
: |
07/02/1969 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2002 |
|
1) |
Name of Subject |
: |
ANI MAWAR BT ABDULLAH |
|
|
Position |
: |
CEO |
|
Auditor |
: |
KHAIRUDDIN,HASYUDEEN & RAZI |
|
Auditor' Address |
: |
B-5-7, MEGAN AVENUE II, 12, JALAN YAP KWAN SENG, 50450 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. MOHAMAD ROSDI BIN IBRAHIM |
|
|
IC / PP No |
: |
7202025 |
|
|
New IC No |
: |
630904-02-5291 |
|
|
Address |
: |
43, JALAN 3/27, SEKSYEN 3, 43650 BANDAR BARU BANGI, SELANGOR,
MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
PUBLIC BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
10/01/2005 |
DEED OF ASSIGNMENT OF CONTRACT PAYMENT |
BANK PEMBANGUNAN DAN INFRASTRUKTUR MALAYSIA BERHAD |
MYR 700,000.00 |
Unsatisfied |
|
2 |
30/05/2005 |
MEMO OF DEPOSIT (OF FIXED DEPOSIT RECEIPT & BY WAY OF SINKING
FUND), LETTER OF AUTHORISATION TO UPLIFT THE FIXED DEPOSIT & THE SINKING
FUND |
BUMIPUTRA-COMMERCE BANK BHD |
MYR 500,000.00 |
Unsatisfied |
|
3 |
24/10/2005 |
FACILITY AGREEMENT & DEED OF AGREEMENT |
MALAYSIA BUILDING SOCIETY BERHAD |
- |
Satisfied |
|
4 |
30/03/2006 |
N/A |
PERBADANAN USAHAWAN NASIONAL BERHAD |
- |
Satisfied |
|
5 |
30/03/2006 |
N/A |
PERBADANAN USAHAWAN NASIONAL BERHAD |
- |
Satisfied |
|
6 |
26/07/2007 |
1ST LEGAL CHARGE |
BANK SIMPANAN NASIONAL |
- |
Unsatisfied |
|
7 |
19/11/2007 |
DEED OF ASSIGNMENT OF PROJECT ACCOUNT |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
- |
Unsatisfied |
|
8 |
16/05/2008 |
MEMORANDUM OF DEPOSITED |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
- |
Unsatisfied |
|
9 |
19/01/2010 |
FACILITY AGREEMENT |
PUBLIC BANK BHD |
- |
Unsatisfied |
|
10 |
20/03/2012 |
GENERAL DEED OF ASSIGNMENT |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
- |
Unsatisfied |
|
11 |
20/03/2012 |
GUARANTEE FACILITY AGREEMENT |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
- |
Unsatisfied |
|
12 |
20/03/2012 |
FACILITY AGREEMENT |
BANK PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD |
- |
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.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose it's 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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
N/A |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2011 |
2010 |
2009 |
|
|
|
|
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
55 |
20 |
18 |
18 |
18 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
electrical switches.
The Subject supplies a wide variety of transmission, substation, OEM and
telecommunications products.
The Subject strives to provide ingenious electrical and power solutions to meet
its client's requirements.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0361418364 |
|
Current Telephone Number |
: |
03-61418364 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
30 JLN PEAKA 814 KOTA DAMANSARA 47810 PETALING JAYA MALAYSIA |
|
Current Address |
: |
30, JALAN PERKAKA 8/4, SECTION 8, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 2nd December 2014 we contacted one of the staff from the Subject and she
provided some information on the Subject.
The address provided is as per stated in the report.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.19% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
18.74% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The higher profit could be attributed to the
increase in turnover. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Acceptable |
[ |
60 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
65 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The Subject's
management was quite efficient in handling its debtors. The Subject's debtors
days were at an acceptable range, thus the risk of its debts turning bad was
minimised. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.15 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.69 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 |
: |
Unfavourable |
[ |
2.98 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.82 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. The Subject's gearing was slightly high. The Subject is utilising
the leverage concept to fund its expansion. However, the high gearing has
added financial risks to the Subject. It will be more vulnerable in times of
economy downturn. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. If there is a fall in the Subject's profit or any increase in
interest rate, the Subject may not be able to generate sufficient cash-flow
to service its interest. The Subject's gearing was slightly high and its
financial risk was also high. If no plans are made to reduce its gearing, the
Subject's performance may deteriorate in the coming year. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : LIMITED |
||||||
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
|
|
|
|
|
|
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production Index |
|||||
|
|
|
|
|
|
|
|
MSIC CODE |
|
|
27 : MANUFACTURE OF ELECTRICAL EQUIPMENT |
|
|
|
|
|
INDUSTRY : |
ELECTRICAL & ELECTRONIC |
|
|
|
|
|
|
|
The electrical & electronics (E&E) industry is the leading
subsector in Malaysia's manufacturing sector, contributing significantly to the
country's exports (32.8 %) and employment (27.2 %) in 2013. E&E products
have been the largest traded items for Malaysia for several decades since the
industry inception in the 1960s. The E&E industry in Malaysia is focused
on strengthening the three major ecosystems of semiconductors, solar and LED
technologies. |
|
|
|
|
|
In the E&E subsector, production grew more strongly by 13.3%
during the first seven months of 2014 mainly driven by electronic components,
communication equipment and domestic appliances. The output of printed
circuit boards and semiconductor devices rose in line with the growing demand
for consumer electronics, particularly mobile devices, as well as improving
global PC sales. Early in 2014, global PC sales rose on a moderating trend due
to the replacement of PCs with a new operating system. Prices of PCs are also
falling, narrowing the price differential with tablets. In contrast, the
output of general-purpose machinery decreased 8.8% on account of the decline
in manufacture of air-conditioning machine as well as lifting and handling
equipment. |
|
|
|
|
|
Malaysia being a part of the global E&E production network that
stands to gain from the stronger growth in worldwide semiconductor sales. In
2015, the export-oriented industries, particularly the E&E subsector will
benefit from the improvement in external conditions in line with improving
global growth. The E&E subsector is expected to grow further driven by
higher demand of semiconductors, electronic components, communication and
computer peripherals with the upswing of global electronics demand. |
|
|
|
|
|
Receipts from E&E products grew at an impressive 10.6% in the
first seven months of 2014, rebounding from a contraction of 2.9% in the corresponding
period last year. The steady improvement in the global economy, coupled with
a pickup in the ICT industry led a surge of 20.1% in export of semiconductor
devices. In addition, the robust demand for mid- to low-end smartphones and
tablets, notably in emerging markets has driven higher shipments of
telecommunication equipment and parts, which turned around with a stronger
growth of 30.9% to the US, Netherlands, Singapore and Mexico. |
|
|
|
|
|
According to Ministry of International Trade and Industry, the healthy
growth in the E&E sector will help boost the country's economy. The
E&E sector is important to Malaysia. Exports of manufactured goods for
September 2014 rose by 2.2 % to RM49.14 billion compared with September 2013,
driven by higher exports of E&E products. Hence, gross exports are
expected to grow 3.2% in 2015 mainly supported by E&E. |
|
|
|
|
|
The growth of semiconductor will continue to spearhead the growth of
the E&E industry in Malaysia and has benefited from the global demand in the
usage of mobile devices, storage devices, and optoelectronics (photonics,
fibre optics, LEDs) and embedded technology integrated circuits, PCBs, LEDs.
The E&E industry is targeted under the National Key Economic Areas (NKEA)
to gear the nation towards high-income economy by focusing on high-value and
high-growth manufacturing activities. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
SHAMAWAR ELEKTRIKA 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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
11,645,026 |
14,565,475 |
9,556,878 |
4,570,268 |
5,940,840 |
|
Other Income |
1,544,129 |
960,643 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
13,189,155 |
15,526,118 |
9,556,878 |
4,570,268 |
5,940,840 |
|
Costs of Goods Sold |
(9,542,189) |
(12,419,623) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
3,646,966 |
3,106,495 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
534,151 |
141,299 |
95,414 |
370,203 |
301,943 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
534,151 |
141,299 |
95,414 |
370,203 |
301,943 |
|
Taxation |
(182,942) |
(6,130) |
(50,000) |
(125,000) |
(13,400) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
351,209 |
135,169 |
45,414 |
245,203 |
288,543 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
1,723,261 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
1,723,261 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,788,799 |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,788,799 |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Hire purchase |
1,176 |
1,748 |
- |
- |
- |
|
Letter of credit |
128,248 |
162,448 |
- |
- |
- |
|
Term loan / Borrowing |
108,238 |
119,757 |
- |
- |
- |
|
Others |
32,007 |
110,981 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
269,669 |
394,934 |
- |
- |
- |
|
|
============= |
============= |
|
|
|
|
SHAMAWAR ELEKTRIKA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
1,833,153 |
1,966,500 |
2,019,998 |
1,986,609 |
2,055,817 |
|
|
|
|
|
|
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
148,000 |
468,000 |
- |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
1,833,153 |
1,966,500 |
2,167,998 |
2,454,609 |
2,055,817 |
|
|
|
|
|
|
|
|
Stocks |
1,924,008 |
2,215,366 |
- |
- |
- |
|
Trade debtors |
2,060,015 |
3,622,430 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
719,457 |
549,321 |
- |
- |
- |
|
Cash & bank balances |
609,935 |
199,488 |
- |
- |
- |
|
Others |
699,032 |
95,434 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
6,012,447 |
6,682,039 |
4,864,116 |
3,202,075 |
3,381,725 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
7,845,600 |
8,648,539 |
7,032,114 |
5,656,684 |
5,437,542 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
493,186 |
1,764,462 |
- |
- |
- |
|
Other creditors & accruals |
1,186,969 |
1,010,450 |
- |
- |
- |
|
Hire purchase & lease creditors |
10,498 |
11,004 |
- |
- |
- |
|
Short term borrowings/Term loans |
119,830 |
152,412 |
- |
- |
- |
|
Other borrowings |
623,248 |
107,489 |
- |
- |
- |
|
Bill & acceptances payable |
661,652 |
1,127,169 |
- |
- |
- |
|
Amounts owing to director |
290,110 |
260,110 |
- |
- |
- |
|
Provision for taxation |
170,795 |
67,753 |
- |
- |
- |
|
Other liabilities |
- |
110,060 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
3,556,288 |
4,610,909 |
2,933,217 |
1,483,318 |
1,650,045 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
2,456,159 |
2,071,130 |
1,930,899 |
1,718,757 |
1,731,680 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
4,289,312 |
4,037,630 |
4,098,897 |
4,173,366 |
3,787,497 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
2,788,799 |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
2,788,799 |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
3,138,799 |
2,787,590 |
2,652,421 |
2,607,007 |
2,361,804 |
|
|
|
|
|
|
|
|
Long term loans |
1,150,513 |
1,237,719 |
- |
- |
- |
|
Hire purchase creditors |
- |
12,321 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1,150,513 |
1,250,040 |
1,446,476 |
1,566,359 |
1,425,693 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,289,312 |
4,037,630 |
4,098,897 |
4,173,366 |
3,787,497 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHAMAWAR ELEKTRIKA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
609,935 |
199,488 |
- |
- |
- |
|
Net Liquid Funds |
(51,717) |
(927,681) |
- |
- |
- |
|
Net Liquid Assets |
532,151 |
(144,236) |
1,930,899 |
1,718,757 |
1,731,680 |
|
Net Current Assets/(Liabilities) |
2,456,159 |
2,071,130 |
1,930,899 |
1,718,757 |
1,731,680 |
|
Net Tangible Assets |
4,289,312 |
4,037,630 |
4,098,897 |
4,173,366 |
3,787,497 |
|
Net Monetary Assets |
(618,362) |
(1,394,276) |
484,423 |
152,398 |
305,987 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
2,565,741 |
2,648,114 |
- |
- |
- |
|
Total Liabilities |
4,706,801 |
5,860,949 |
4,379,693 |
3,049,677 |
3,075,738 |
|
Total Assets |
7,845,600 |
8,648,539 |
7,032,114 |
5,656,684 |
5,437,542 |
|
Net Assets |
4,289,312 |
4,037,630 |
4,098,897 |
4,173,366 |
3,787,497 |
|
Net Assets Backing |
3,138,799 |
2,787,590 |
2,652,421 |
2,607,007 |
2,361,804 |
|
Shareholders' Funds |
3,138,799 |
2,787,590 |
2,652,421 |
2,607,007 |
2,361,804 |
|
Total Share Capital |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
Total Reserves |
2,788,799 |
2,437,590 |
2,302,421 |
2,257,007 |
2,011,804 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.17 |
0.04 |
- |
- |
- |
|
Liquid Ratio |
1.15 |
0.97 |
- |
- |
- |
|
Current Ratio |
1.69 |
1.45 |
1.66 |
2.16 |
2.05 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
60 |
56 |
- |
- |
- |
|
Debtors Ratio |
65 |
91 |
- |
- |
- |
|
Creditors Ratio |
19 |
52 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.82 |
0.95 |
- |
- |
- |
|
Liabilities Ratio |
1.50 |
2.10 |
1.65 |
1.17 |
1.30 |
|
Times Interest Earned Ratio |
2.98 |
1.36 |
- |
- |
- |
|
Assets Backing Ratio |
12.26 |
11.54 |
11.71 |
11.92 |
10.82 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
4.59 |
0.97 |
1.00 |
8.10 |
5.08 |
|
Net Profit Margin |
3.02 |
0.93 |
0.48 |
5.37 |
4.86 |
|
Return On Net Assets |
18.74 |
13.28 |
2.33 |
8.87 |
7.97 |
|
Return On Capital Employed |
18.69 |
13.24 |
2.33 |
8.87 |
7.97 |
|
Return On Shareholders' Funds/Equity |
11.19 |
4.85 |
1.71 |
9.41 |
12.22 |
|
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.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.