|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOM TECHNOLOGIES
(M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
|
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.07.2009 |
|
|
|
|
Com. Reg. No.: |
864504-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Precast Concrete. |
|
|
|
|
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 |
|
|
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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. |
: |
864504-X |
||||
|
COMPANY NAME |
: |
KOM TECHNOLOGIES (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
SUNRISE MASTERPIECE SDN. BHD. (14/09/2009) |
||||
|
INCORPORATION DATE |
: |
14/07/2009 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
SUITE 702, WISMA HANGSAM, JALAN HANG LEKIR, 7TH FLOOR, 50000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
PLO 68, JALAN TEKNOLOGI 2/5, KAWASAN PERINDUSTRIAN IKS, 86200 SIMPANG
RENGAM, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-7559390 |
||||
|
FAX.NO. |
: |
07-7559392 |
||||
|
CONTACT PERSON |
: |
CHONG LAN SIN ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
23952 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF PRECAST CONCRETE |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 5,400,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 28,106,271 [2013] |
||||
|
NET WORTH |
: |
MYR 2,840,604 [2013] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, sue
or be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act, 1965 and the company must file its annual
returns, together with its financial statements with the Registrar of
Companies.
The Subject is principally engaged in the (as a / as an) manufacturing
of precast concrete.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
30/06/2014 |
MYR 10,000,000.00 |
MYR 5,400,000.00 |
|
15/02/2013 |
MYR 5,000,000.00 |
MYR 2,400,000.00 |
|
19/09/2010 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
23/06/2010 |
MYR 1,000,000.00 |
MYR 100,000.00 |
|
14/07/2009 |
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 |
(%) |
|
MR. CHONG LAN SIN + |
15, JALAN USJ 2/4F, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
480225-05-5201 1160239 |
2,748,000.00 |
50.89 |
|
DATO' OU KWEE HUA + |
52, JALAN LAKSAMANA 2, TAMAN UNGKU TUN FATIMAH, 81300 SKUDAI, JOHOR,
MALAYSIA. |
640626-01-6131 7377907 |
1,620,000.00 |
30.00 |
|
MR. CHONG TUN YEN + |
C 0107, BLOCK C, SUNWAY SUTERA CONDO, JALAN TROPICANA UTARA, PJU 3,
SUNWAY DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA. |
760822-14-5535 A3310872 |
480,000.00 |
8.89 |
|
MR. ALVIN LIM CHUN FOOK |
C-4-9, GREENFIELDS APARTMENT, JALAN 1/155B, BUKIT JALIL, 57000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
650907-07-5487 A0202540 |
480,000.00 |
8.89 |
|
MR. ENG TUCK KUM |
26, JALAN PULAI 35, TAMAN PULAI UTAMA, 81300 SKUDAI, JOHOR, MALAYSIA. |
630303-01-5493 7069359 |
72,000.00 |
1.33 |
|
|
|
|
--------------- |
------ |
|
|
|
|
5,400,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. OU CHIN HUA |
|
Address |
: |
15, JALAN SERI AMIRA 7, TAMAN AMIRA, 81200 JOHOR BAHRU, JOHOR,
MALAYSIA. |
|
IC / PP No |
: |
A0523894 |
|
New IC No |
: |
660916-01-6437 |
|
Date of Birth |
: |
16/09/1966 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/09/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. CHONG TUN YEN |
|
Address |
: |
C 0107, BLOCK C, SUNWAY SUTERA CONDO, JALAN TROPICANA UTARA, PJU 3,
SUNWAY DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3310872 |
|
New IC No |
: |
760822-14-5535 |
|
Date of Birth |
: |
22/08/1976 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/09/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
DATO' OU KWEE HUA |
|
Address |
: |
52, JALAN LAKSAMANA 2, TAMAN UNGKU TUN FATIMAH, 81300 SKUDAI, JOHOR,
MALAYSIA. |
|
IC / PP No |
: |
7377907 |
|
New IC No |
: |
640626-01-6131 |
|
Date of Birth |
: |
26/06/1964 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/09/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MR. CHONG LAN SIN |
|
Address |
: |
15, JALAN USJ 2/4F, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
1160239 |
|
New IC No |
: |
480225-05-5201 |
|
Date of Birth |
: |
25/02/1948 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/09/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
CHONG LAN SIN |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
AHMAD ABDULLAH & GOH |
|
Auditor' Address |
: |
SUITE 701, WISMA HANGSAM, JALAN HANG LEKIRM, 17TH FLOOR, 50000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MS. SUNANNAH A/P K.P.S CHANDRADASAN |
|
|
IC / PP No |
: |
A1151757 |
|
|
New IC No |
: |
690119-01-5658 |
|
|
Address |
: |
267, JALAN RJ 1/3, TAMAN RASAH JAYA, 70300 SEREMBAN, NEGERI SEMBILAN,
MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
27/12/2010 |
LETTER OF
PLEDGING FIXED DEPOSIT RECEIPT AND LETTER OF SET OFF |
PUBLIC BANK
BERHAD |
MYR 42,000.00 |
Unsatisfied |
|
2 |
31/05/2011 |
1ST PARTY
MEMORANDUM OF DEPOSIT AND LETTER OF SET OFF |
MALAYAN BANKING
BHD |
- |
Unsatisfied |
|
3 |
27/12/2012 |
DEED OF
ASSIGNMENT |
OCBC BANK
(MALAYSIA) BHD |
- |
Unsatisfied |
|
4 |
31/01/2013 |
DEED OF
ASSIGNMENT OF PROCEEDS |
HONG LEONG BANK
BERHAD |
- |
Unsatisfied |
|
5 |
25/02/2013 |
FIRST LEGAL
CHARGE |
HONG LEONG BANK
BERHAD |
- |
Unsatisfied |
|
6 |
13/01/2014 |
LETTER PLEDGING
FIXED DEPOSIT RECEIPT |
PUBLIC BANK
BERHAD |
- |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
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 |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|||
|
|
|
|
|||
|
Overseas |
: |
N/A |
|||
|
|
|
|
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
N/A |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose it's clientele.
|
Products manufactured |
: |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
precast concrete.
The Subject refused to disclose it's business operation.
Latest fresh investigations carried out on the Subject indicated that:
|
Telephone Number Provided By Client |
: |
6 07 755 9390/+6 07 755 9391 |
|
Current Telephone Number |
: |
07-7559390 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
PLO 68, JALAN TEKNOLOGI 2/5, KAWASAN PERINDUSTRIAN IKS 86200 SIMPANG
RENGGAM, JOHOR |
|
Current Address |
: |
PLO 68, JALAN TEKNOLOGI 2/5, KAWASAN PERINDUSTRIAN IKS, 86200 SIMPANG
RENGAM, JOHOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he only provided limited information
on the Subject.
The address provided is incomplete.
The Subject refused to disclose it's number of employees.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.87% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.47% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
141 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
130 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's debtors ratio
was high. The Subject should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Acceptable |
[ |
0.94 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.02 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's liquid ratio was slightly low. This could indicate that
the Subject's working capital was slightly deficient. The Subject will have
to improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
2.74 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.40 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 was highly geared, thus it had a high financial risk.
The Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The higher turnover had helped to reduce the Subject's losses. The
Subject's liquidity was at an acceptable range. If the Subject is able to
obtain further short term financing, it should be able to meet all 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 level was high and
its going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
|
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 |
|
|
23952 : Manufacture of precast concrete, cement or artificial stone
articles for use in construction |
|
|
|
|
|
INDUSTRY : |
CONSTRUCTION |
|
|
|
|
|
|
|
The construction sector consists of four subsectors: residential,
non-residential, civil engineering and special trade works. During a period
of rapid economic expansion, the sector generally outperforms Gross Domestic
Product (GDP) growth. |
|
|
|
|
|
In 2014, the construction sector is expected to further expand by
12.7% and contribute 4% to GDP, supported by the civil engineering and
residential subsectors. The civil engineering subsector will be driven by oil
and gas (O&G) as well as transportation projects. Meanwhile, growth in
the residential subsector is mainly due to the construction of private
residential projects ranging from medium to high-end properties. The sector
is expected to benefit from the acceleration of ongoing construction
activities, particularly from the Economic Transformation Programme (ETP)
construction-related projects. In 2015, the construction sector is expected
to grow by 10.7% supported by commencement of O&G related projects such
as RAPID as well as ongoing transportation related infrastructure projects. |
|
|
|
|
|
On the other hand, civil engineering subsector expanded 6.3% during
the first half of 2014, but growth has moderated following the completion of
some major projects, including KLIA2, Second Penang Bridge and Manjung
coal-power plant. However, ongoing civil engineering projects, particularly
O&G related activities and expansion of electricity power stations and
transmission lines, will still contribute significantly to the subsector.
These include the development of Floating Liquefied Natural Gas 1 Project
(FLNG 1) and Sabah Ammonia Urea Plant (SAMUR) projects, and electricity power
plants in Manjung and Seberang Prai. Other key projects which will boost
growth in the subsector include the ongoing MRT Line 1 project and LRT
extension, clean water supply and electrification expansion projects to rural
areas especially of Kuantan Port, extension of DUKE and construction of West
Coast Expressway the Central Spine Road from Bentong to Kuala Krai. |
|
|
|
|
|
Besides, growth in the non-residential subsector turned around sharply
by 14% in line with healthy business activity during the first half of 2014.
This was reflected by increased construction activities especially for
commercial buildings with the incoming supply of shops. The subsector is
expected to remain stable in 2015 supported by encouraging demand for
industrial and commercial buildings. Major commercial building projects such
as the 118-storey Menara Warisan and Bukit Bintang City Centre are expected
to contribute to the growth of the sector. |
|
|
|
|
|
Moreover, the residential subsector expanded strongly by 22.1% during
the first half of 2014 supported by higher growth in incoming supply.
Meanwhile, new housing approvals increased significantly by 32.6%. Despite
the decline in housing starts at 5.3%, residential activity is expected to
remain stable. The subsector is expected to remain strong in view of the increased
demand for housing in 2015, particularly from the middle-income group. Demand
for affordable housing will remain favorable amid several Government
initiatives such as PR1MA. |
|
|
|
|
|
Under budget 2015, Government will allocate the total of RM48.25 billion
for the construction cost of Sungai Besi - Ulu Klang Expressway (SUKE), West
Coast Expressway from Taiping to Banting, Damansara - Shah Alam Highway
(DASH), Eastern Klang Valley Expressway (EKVE), upgrading the East Coast
railway line, Second MRT Line from Selayang to Putrajaya, and LRT 3 Project.
Besides, the Government intends to start construction of the 1,663-km
Pan-Borneo Highway comprising 936 km in Sarawak and 727 km in Sabah at a
total construction cost of RM27 billion. Other than that, Government will
also allocate RM3 billion for the construction of Air Langat 2 Water
Treatment Plant to resolve the problem of water supply shortage in the Klang
Valley. |
|
|
|
|
|
Starting from 1st April, 2015, all types of construction services
including construction of residential houses or agricultural buildings and
building materials are subject to 6% of Goods and Services Tax. According to
Real Estate and Housing Developers' Association Malaysia (Rehda), home prices
will raise once the goods and services tax (GST) comes into play and it will
have an impact on construction industry. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 2009, the Subject is a Private Limited company,
focusing on manufacturing of precast concrete. The Subject has been in
business for less than 5 years and it has slowly been building up contact
with its clients while competing in the industry. However, it has yet to
enjoy a stable market shares as it need to compete many well established players
in the same field. A paid up capital of MYR 5,400,000 allows the Subject to
expand its business more comfortably. However, the Subject does not have
strong shareholders’ backing. Without a strong shareholders' backing, the
opportunity of the Subject to expand its business is limited. Overall, we regard that the Subject's management capability is
average. This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
KOM TECHNOLOGIES (M) SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-09-30 |
2011-09-30 |
2010-09-30 |
|
Months |
15 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
TURNOVER |
28,106,271 |
7,719,624 |
7,262,358 |
- |
|
Other Income |
142,353 |
86,562 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
28,248,624 |
7,806,186 |
7,262,358 |
- |
|
Costs of Goods Sold |
(22,969,159) |
(7,967,194) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
5,279,465 |
(161,008) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
560,029 |
(2,345,440) |
(630,784) |
(133,901) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
560,029 |
(2,345,440) |
(630,784) |
(133,901) |
|
Taxation |
61,187 |
38,169 |
(108,656) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
621,216 |
(2,307,271) |
(739,440) |
(133,901) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As previously reported |
(3,180,612) |
(873,341) |
(133,901) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
(3,180,612) |
(873,341) |
(133,901) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(2,559,396) |
(3,180,612) |
(873,341) |
(133,901) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(2,559,396) |
(3,180,612) |
(873,341) |
(133,901) |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
Bank overdraft |
17,126 |
8,893 |
- |
- |
|
Bankers' acceptance |
36,907 |
- |
- |
- |
|
Hire purchase |
25,142 |
22,768 |
- |
- |
|
Term loan / Borrowing |
165,347 |
- |
- |
- |
|
Others |
76,900 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
321,422 |
31,661 |
- |
- |
|
|
============= |
============= |
|
|
|
KOM TECHNOLOGIES (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
FIXED ASSETS |
8,955,898 |
4,435,480 |
4,468,472 |
4,058,734 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
8,955,898 |
4,435,480 |
4,468,472 |
4,058,734 |
|
|
|
|
|
|
|
Stocks |
1,193,407 |
353,506 |
- |
- |
|
Trade debtors |
10,839,891 |
1,545,704 |
- |
- |
|
Other debtors, deposits & prepayments |
377,740 |
782,498 |
- |
- |
|
Short term deposits |
1,268,935 |
1,228,741 |
- |
- |
|
Cash & bank balances |
722,340 |
118,164 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
14,402,313 |
4,028,613 |
5,306,141 |
168,329 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
23,358,211 |
8,464,093 |
9,774,613 |
4,227,063 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade creditors |
8,202,631 |
1,232,555 |
- |
- |
|
Other creditors & accruals |
2,094,525 |
1,097,154 |
- |
- |
|
Hire purchase & lease creditors |
73,732 |
65,451 |
- |
- |
|
Bank overdraft |
207,659 |
- |
- |
- |
|
Short term borrowings/Term loans |
229,117 |
- |
- |
- |
|
Bill & acceptances payable |
433,030 |
- |
- |
- |
|
Amounts owing to director |
2,804,975 |
6,575,772 |
- |
- |
|
Provision for taxation |
9,300 |
70,487 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
14,054,969 |
9,041,419 |
7,941,048 |
3,360,964 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
347,344 |
(5,012,806) |
(2,634,907) |
(3,192,635) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
9,303,242 |
(577,326) |
1,833,565 |
866,099 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
5,400,000 |
2,400,000 |
2,400,000 |
1,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
5,400,000 |
2,400,000 |
2,400,000 |
1,000,000 |
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
(2,559,396) |
(3,180,612) |
(873,341) |
(133,901) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
(2,559,396) |
(3,180,612) |
(873,341) |
(133,901) |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,840,604 |
(780,612) |
1,526,659 |
866,099 |
|
|
|
|
|
|
|
Long term loans |
2,659,917 |
- |
- |
- |
|
Hire purchase creditors |
376,508 |
203,286 |
- |
- |
|
Others |
3,426,213 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
6,462,638 |
203,286 |
306,906 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,303,242 |
(577,326) |
1,833,565 |
866,099 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
KOM TECHNOLOGIES (M) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
Cash |
1,991,275 |
1,346,905 |
- |
- |
|
Net Liquid Funds |
1,350,586 |
1,346,905 |
- |
- |
|
Net Liquid Assets |
(846,063) |
(5,366,312) |
(2,634,907) |
(3,192,635) |
|
Net Current Assets/(Liabilities) |
347,344 |
(5,012,806) |
(2,634,907) |
(3,192,635) |
|
Net Tangible Assets |
9,303,242 |
(577,326) |
1,833,565 |
866,099 |
|
Net Monetary Assets |
(7,308,701) |
(5,569,598) |
(2,941,813) |
(3,192,635) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
Total Borrowings |
3,979,963 |
268,737 |
- |
- |
|
Total Liabilities |
20,517,607 |
9,244,705 |
8,247,954 |
3,360,964 |
|
Total Assets |
23,358,211 |
8,464,093 |
9,774,613 |
4,227,063 |
|
Net Assets |
9,303,242 |
(577,326) |
1,833,565 |
866,099 |
|
Net Assets Backing |
2,840,604 |
(780,612) |
1,526,659 |
866,099 |
|
Shareholders' Funds |
2,840,604 |
(780,612) |
1,526,659 |
866,099 |
|
Total Share Capital |
5,400,000 |
2,400,000 |
2,400,000 |
1,000,000 |
|
Total Reserves |
(2,559,396) |
(3,180,612) |
(873,341) |
(133,901) |
|
LIQUIDITY (Times) |
|
|
|
|
|
Cash Ratio |
0.14 |
0.15 |
- |
- |
|
Liquid Ratio |
0.94 |
0.41 |
- |
- |
|
Current Ratio |
1.02 |
0.45 |
0.67 |
0.05 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock Ratio |
15 |
17 |
- |
- |
|
Debtors Ratio |
141 |
73 |
- |
- |
|
Creditors Ratio |
130 |
56 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
Gearing Ratio |
1.40 |
(0.34) |
- |
- |
|
Liabilities Ratio |
7.22 |
(11.84) |
5.40 |
3.88 |
|
Times Interest Earned Ratio |
2.74 |
(73.08) |
- |
- |
|
Assets Backing Ratio |
1.72 |
(0.24) |
0.76 |
0.87 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
1.99 |
(30.38) |
(8.69) |
- |
|
Net Profit Margin |
2.21 |
(29.89) |
(10.18) |
- |
|
Return On Net Assets |
9.47 |
400.78 |
(34.40) |
(15.46) |
|
Return On Capital Employed |
9.20 |
452.02 |
(34.40) |
(15.46) |
|
Return On Shareholders' Funds/Equity |
21.87 |
295.57 |
(48.44) |
(15.46) |
|
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.62.21 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.