MIRA INFORM REPORT

 

 

Report Date :

27.12.2014

 

IDENTIFICATION DETAILS

 

Name :

WENG YEANG HANG (MALAYSIA) SDN. BHD

 

 

Registered Office :

44, Ah Quee Street, Penang, 10200 George Town, Pulau Pinang

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

04.06.1996

 

 

Com. Reg. No.:

389226-X

 

 

Legal Form :

Exempt Private (Limited By Share)

 

 

Line of Business :

Trading In Foodstuff

 

 

No. of Employee :

5 [2014]

 

 

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 :

Unknown

 

 

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

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

389226-X

COMPANY NAME

:

WENG YEANG HANG (MALAYSIA) SDN. BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

04/06/1996

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

44, AH QUEE STREET, PENANG, 10200 GEORGE TOWN, PULAU PINANG, MALAYSIA.

BUSINESS ADDRESS

:

34, GREEN HALL, 10200 GEORGE TOWN, PULAU PINANG, MALAYSIA.

TEL.NO.

:

04-2635808

FAX.NO.

:

04-2635954

CONTACT PERSON

:

LEE CHIN WAH ( DIRECTOR )

 

 

 

INDUSTRY CODE

:

46329

PRINCIPAL ACTIVITY

:

TRADING IN FOODSTUFF

AUTHORISED CAPITAL

:

MYR 100,000.00 DIVIDED INTO 
ORDINARY SHARE 100,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 2.00 DIVIDED INTO 
ORDINARY SHARES 2 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

MYR 10,779,948 [2011]

NET WORTH

:

MYR 1,928,265 [2011]

 

 

 

STAFF STRENGTH

:

5 [2014]

BANKER (S)

:

PUBLIC BANK BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. 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, suing or be sued by other companies. The Subject is governed by the Companies Act, 1965 and must file in its annual return. The Subject need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the Subject is able to meet all its obligations as and when they fall due. Although the Subject is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.

 

The Subject is principally engaged in the (as a / as an) trading in foodstuff.

 

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 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. LEE CHIN TEONG +

430, JALAN AYER ITAM, 11400 PULAU PINANG, PULAU PINANG, MALAYSIA.

591228-07-5509 5742459

1.00

50.00

MR. LEE CHIN WAH +

35, LINTANG DELIMA 2, GELUGOR, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

630911-07-5983 7124277

1.00

50.00

 

 

 

---------------

------

 

 

 

2.00

100.00

 

 

 

============

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MS. KHOO SIEW HOON

Address

:

35, LINTANG DELIMA 2, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

IC / PP No

:

A0202366

New IC No

:

650830-07-5410

Date of Birth

:

30/08/1965

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

22/12/1997

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MR. LEE CHIN TEONG

Address

:

430, JALAN AYER ITAM, 11400 PULAU PINANG, PULAU PINANG, MALAYSIA.

IC / PP No

:

5742459

New IC No

:

591228-07-5509

Date of Birth

:

28/12/1959

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

04/06/1996

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

MR. LEE CHIN WAH

Address

:

35, LINTANG DELIMA 2, GELUGOR, 11700 GELUGOR, PULAU PINANG, MALAYSIA.

IC / PP No

:

7124277

New IC No

:

630911-07-5983

Date of Birth

:

11/09/1963

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

04/06/1996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MANAGEMENT

 

1)

Name of Subject

:

LEE CHIN WAH

 

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

SOON & ASSOCIATES

Auditor' Address

:

8, JALAN EDGECUMBE, 10250 GEORGETOWN, PULAU PINANG, MALAYSIA.

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. FOO SIEW EAN

 

IC / PP No

:

3772807

 

New IC No

:

500220-08-6346

 

Address

:

16, TINGKAT BUKIT KECIL 2, TAMAN SRI NIBONG, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA.

 

 

BANKING

 

Banking relations are maintained principally with :

 

1)

Name

:

PUBLIC BANK BHD

 

 

ENCUMBRANCE (S)

 

No encumbrance was found in our databank at the time of investigation. 

 

 

LITIGATION CHECK AGAINST SUBJECT

 

* A check has been conducted in our databank againt the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.


No legal action was found in our databank.


No winding up petition was found in our databank.

 

 

DEFAULTER CHECK AGAINST SUBJECT

 

* We have checked through the Subject in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection.

No blacklisted record & debt collection case was found in our defaulters' databank.

 

 

PAYMENT RECORD

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

Import Countries

:

EUROPE,ASIA

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

 

 

 

 

 

 

 

 

 

Credit Term

:

30 DAYS

 

 

 

 

 

 

Payment Mode

:

CASH
CHEQUES

Type of Customer

:

WHOLESALERS,RETAIL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

SNACK FOODS SUCH AS DRIED FRUITS AND NUTS

 

 

 

 

Ownership of premises

:

LEASED/RENTED

 

 

 

Total Number of Employees:

 

YEAR

2014

2013

2011

2010

2009

 

GROUP

N/A

N/A

N/A

N/A

N/A

 

 

 

 

COMPANY

5

3

3

2

2

 

 

 

 

 

 

Branch

:

NO

 

 

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading in foodstuff. 


The Subject sells all kinds of raw ingredients for food industries.

 

The Subject sells its products in bulk.

 

The Subject sells the products according to its customers' orders. 

 

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

 

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

04-2635808

Match

:

N/A

 

 

 

Address Provided by Client

:

34, GREEN HALL,10200,PULAU PINANG,PULAU PINANG.

Current Address

:

34, GREEN HALL, 10200 GEORGE TOWN, PULAU PINANG, MALAYSIA.

Match

:

YES

 

 

 

Latest Financial Accounts

:

NO

 

 

Other Investigations


On 23rd December 2014 we contacted one of the staff from the Subject and she provided some information.

 

 

FINANCIAL ANALYSIS

 

The Subject's latest financial accounts are up to 2011 which is out dated in our opinion. Therefore, our comment on the Subject financial performance is restricted thereto.

 

Overall financial condition of the Subject : N/A

 

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

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 

 

 

INDUSTRY ANALYSIS

 

MSIC CODE

46329 : Wholesale of other foodstuffs

 

 

INDUSTRY :

TRADING

 

 

 

 

The wholesale and retail trade is expected to increase 7.1% in 2015 (2014: 7.7%) driven by strong domestic consumption and higher tourist arrivals following the Malaysia Year of Festivals 2015. Besides, in 2014, the wholesale and retail trade subsector is expected to increase 7.7% (2013: 6.4%) supported by strong domestic consumption.

 

 

According to Retail Group Malaysia (RGM), the pharmacy and personal care sub-sector had slow growth rate of 2.6% for the first quarter of 2014, while "other specialty stores" grew at a rate of 3.5%. During the first quarter of 2014, fashion and fashion accessories recorded a sustainable growth of 6.3% as compared with the same period last year (3.6%).

 

 

The retail segment increased 10.1% (January - June 2013: 7.1%) attributed to brisk sales in retail outlets such as hypermarkets and large-scale superstores. Since the launch of the Small Retailer Transformation programme

(TUKAR) in January 2011 up to end-July 2014, 1,761 small retailer stores (end-July 2013: 1,381) have been modernized to improve their competitiveness. In addition, the strong growth of the retail segment was supported by 1Malaysia Unified Sales held from 29 June 2014 to 1 September 2014 to attract foreign and local tourists to shop in Malaysia. Meanwhile, the wholesale segment expanded 8.2% (January - June 2013: 4.9%) due to higher sales of non-agricultural intermediate products, such as petrol, diesel, lubricants and household goods. Furthermore, food and beverage outlets, laundry outlets, car wash centres, abd health and beauty outlets took a hit from the water rationing in the Klang Valley since February this year.

 

 

On the other hand, in 2014, Malaysia's total trade is expected to grow 5.2% to RM1.44 trillion (2013: 4.5%; RM1.37 trillion) underpinned by recovery in key advanced economies, resilient regional demand, and partly due to the base effect arising from sluggish exports in the corresponding period last year. Gross exports are anticipated to expand 6% to RM762.8 billion while import decreased 4.3% to RM677.2 billion (2013: 2.4%; RM719.8 billion; 7%; RM 649.1 billion). Consequently, the trade surplus is expected to be higher at RM85.6 billion or 7.9% of GDP in 2014 (2013: RM70.7 billion; 7.2%).

 

 

Furthermore, gross exports rebounded by 10.7% to RM441.3 billion during the first seven months of 2014 (January - July 2013: -2.8%; RM398.5 billion), with manufactured and mining exports rising at a double digit pace of 11.4% and 12.5%. Shipment of agriculture products grew at a slower pace of 2.7%, primarily due to lower receipts of crude rubber (-24.6%) while export growth of other commodities remained steady. Consequently, exports of manufactured and mining products are expected to grow 6.1% and 6.4% in 2014 (2013: 5.1%; 3.3%). Meanwhile, agriculture exports are expected to rebound sharply by 4.5% in 2014 (2013: -14.4%) despite moderating commodity prices. Malaysia's top 3 trading partners are China, Singapore, and Japan. 

 

 

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

 

 

CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1996, the Subject is an Exempt Private company, focusing on trading in foodstuff. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. With a small issued and a paid up capital of only MYR 2 contributed from individual shareholders, the Subject does not have strong shareholders' backing. Without a strong backing, the Subject may face difficulties in its attempt to further expand its business in the future. 

 

Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. Being a small company, the Subject's business operation is supported by 5 employees. 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. 


As the Subject is registered as an Exempt Private company, it is not required to file financial statements for public review. As such, we are unable to ascertain its present financial health. 


Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. 

 

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

 

Financial Year End

2011-12-31

2010-12-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

SUMMARY

SUMMARY

Currency

MYR

MYR

 

 

 

TURNOVER

10,779,948

12,379,283

 

----------------

----------------

Total Turnover

10,779,948

12,379,283

 

----------------

----------------

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

245,933

233,424

 

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

245,933

233,424

Taxation

(56,372)

(60,508)

 

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

189,561

172,916

 

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

1,738,702

1,565,786

 

----------------

----------------

As restated

1,738,702

1,565,786

 

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

1,928,263

1,738,702

 

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,928,263

1,738,702

 

=============

=============

 

 

 

 

 

BALANCE SHEET

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

57,992

66,348

 

 

 

 

----------------

----------------

TOTAL LONG TERM ASSETS

57,992

66,348

 

 

 

TOTAL CURRENT ASSETS

3,002,319

3,665,123

 

----------------

----------------

TOTAL ASSET

3,060,311

3,731,471

 

=============

=============

 

 

 

TOTAL CURRENT LIABILITIES

1,125,046

1,984,767

 

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

1,877,273

1,680,356

 

----------------

----------------

TOTAL NET ASSETS

1,935,265

1,746,704

 

=============

=============

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

2

2

 

----------------

----------------

TOTAL SHARE CAPITAL

2

2

 

 

 

Retained profit/(loss) carried forward

1,928,263

1,738,702

 

----------------

----------------

TOTAL RESERVES

1,928,263

1,738,702

 

 

 

 

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,928,265

1,738,704

 

 

 

TOTAL LONG TERM LIABILITIES

7,000

8,000

 

----------------

----------------

 

1,935,265

1,746,704

 

=============

=============

 

 

 

 

 

FINANCIAL RATIO

 

TYPES OF FUNDS

 

 

Net Liquid Assets

1,877,273

1,680,356

Net Current Assets/(Liabilities)

1,877,273

1,680,356

Net Tangible Assets

1,935,265

1,746,704

Net Monetary Assets

1,870,273

1,672,356

 

 

 

BALANCE SHEET ITEMS

 

 

Total Liabilities

1,132,046

1,992,767

Total Assets

3,060,311

3,731,471

Net Assets

1,935,265

1,746,704

Net Assets Backing

1,928,265

1,738,704

Shareholders' Funds

1,928,265

1,738,704

Total Share Capital

2

2

Total Reserves

1,928,263

1,738,702

 

 

 

LIQUIDITY (Times)

 

 

Current Ratio

2.67

1.85

 

 

 

SOLVENCY RATIOS (Times)

 

 

Liabilities Ratio

0.59

1.15

Assets Backing Ratio

967,632.50

873,352.00

 

 

 

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

2.28

1.89

Net Profit Margin

1.76

1.40

Return On Net Assets

12.71

13.36

Return On Capital Employed

12.71

13.36

Return On Shareholders' Funds/Equity

9.83

9.95

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.63

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.