|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREYA GEMS SDN.
BHD. |
|
|
|
|
Registered Office : |
53A, 1st Floor, Lorong Perda Selatan 1, Bandar Perda, 14000 Bukit Mertajam, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.11.2002 |
|
|
|
|
Com. Reg. No.: |
598743-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
· Subject is engaged in Selling diamonds, precious stones and semi precious stones Subject sells variety of lucky and precious stones. |
|
|
|
|
No. of Employees : |
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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 strained government finances, has forced Kuala Lumpur to begin to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 35% of government revenue in 2011. Bank Negera 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 has raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but he has encountered significant opposition, especially from Malay nationalists and other vested interests
|
Source
: CIA |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
598743-W |
||||
|
COMPANY NAME |
: |
SHREYA GEMS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
13/11/2002 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
53A, 1ST FLOOR, LORONG PERDA SELATAN 1, BANDAR PERDA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
75, LEBUH AH QUEE, 10200 GEORGE TOWN, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-2624013 |
||||
|
FAX.NO. |
: |
04-2624013 |
||||
|
CONTACT PERSON |
: |
PURAV ASHOK SHAH ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
47733 |
||||
|
PRINCIPAL ACTIVITY |
: |
SELLING DIAMONDS, PRECIOUS STONES AND SEMI PRECIOUS STONES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 5,724,615 [2011] |
||||
|
NET WORTH |
: |
MYR 1,136,656 [2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
5 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
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) selling diamonds, precious stones and semi precious stones.
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 1,000,000.00 |
MYR 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DATO' HJ AYOB BIN AZIZ + |
2204, JALAN PERMATA 10, TAMAN PERMATA, ULU KLANG, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
531102-02-5325 |
699,999.00 |
70.00 |
|
MR. PURAV ASHOK SHAH + |
MIDLANDS CONDO, UNIT 7, 21ST FLOOR, OFF ADVENTISTS HOSPITAL, 10350 PULAU PINANG, PULAU PINANG, MALAYSIA. |
A9813738 |
300,000.00 |
30.00 |
|
MR. MOHD FADZIL BIN AHMAD + |
23H, TAMAN SETIABUDI, TIKAM BATU, 08600 SUNGAI PETANI, KEDAH, MALAYSIA. |
570330-07-6257 |
1.00 |
0.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
NALI PURAV SHAH |
|
Address |
: |
3A-17-7, TANJUNG PARK, PERSIARAN LENGGUAS SATU, 10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
F1720455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
24/06/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. NIRALI NATVERLAL SHAH |
|
Address |
: |
MIDLANDS CONDO, UNIT 7, 21ST FLOOR, OFF ADVENTISTS HOSPITAL, 10350 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
U073438 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
24/06/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. MOHD FADZIL BIN AHMAD |
|
Address |
: |
23H, TAMAN SETIABUDI, TIKAM BATU, 08600 SUNGAI PETANI, KEDAH, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
570330-07-6257 |
|
Date of Birth |
: |
30/03/1957 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/11/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MR. PURAV ASHOK SHAH |
|
Address |
: |
MIDLANDS CONDO, UNIT 7, 21ST FLOOR, OFF ADVENTISTS HOSPITAL, 10350 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A9813738 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
18/11/2002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
DATO' HJ AYOB BIN AZIZ |
|
Address |
: |
2204, JALAN PERMATA 10, TAMAN PERMATA, ULU KLANG, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
531102-02-5325 |
|
Date of Birth |
: |
02/11/1953 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/11/2002 |
|
|
|
|
|
1) |
Name of Subject |
: |
PURAV ASHOK SHAH |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR |
|
Auditor |
: |
RAGENDRAN & CO |
|
Auditor' Address |
: |
34, LORONG ABU SITI, 1ST FLOOR, 10400 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MS. HENG PEI CHIEN |
|
|
|
|
|
|
|
New IC No |
: |
840910-07-5178 |
|
|
Address |
: |
2578, JALAN KILANG UBI, ALMA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
NO |
Percentage |
: |
0% |
|
Overseas |
: |
YES |
Percentage |
: |
100% |
|
Import Countries |
: |
INDIA |
|||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
END USERS,DEALERS |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
|
Goods Traded |
: |
PRECIOUS STONES & SEMI PRECIOUS STONES
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
LUXURYCONCEPTS WATCHES
AND JEWELLERY SDN BHD
|
|||||
|
|
|
|
|||||
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
5 |
5 |
5 |
5 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) selling diamonds,
precious stones and semi precious stones.
The Subject sells imported stones especially from India.
The Subject sells variety of lucky and precious stones.
The Subject sells in both loose and large quantities.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
60164216081 |
|
Current Telephone Number |
: |
04-2624013 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
BLOCK 2 GEMS, PANTAI PANORAMA CONDOMINIUS JALAN 112H, OFF JALAN KERINCHI 59200 KAUALA LUMPUR |
|
Current Address |
: |
75, LEBUH AH QUEE, 10200 GEORGE TOWN, PULAU PINANG, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
NO |
Other Investigations
we contacted one of the staff
from the Subject and she provided some information on the Subject.
The Subject refused to verify the
address provided.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2007 - 2011 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2007 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.90% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
2.18% |
] |
|
|
|
|
|
|
|
|
|
|
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 unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Favourable |
[ |
1.85 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject was in good liquidity position with its current liabilities well covered by its current assets. With its net current assets, the Subject should be able to repay its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Unfavourable |
[ |
1.17 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. The Subject's liabilities 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 |
||||||
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
(1.1) |
(3.4) |
10.8 |
(2.8) |
- |
|
Rubber |
(19.8) |
9.9 |
6.1 |
(0.6) |
- |
|
Forestry & Logging |
(5.9) |
(3.3) |
(7.6) |
(2.2) |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
(0.7) |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
(3.8) |
0.2 |
(5.7) |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
(1.7) |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
(9.4) |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.9) |
1.6 |
- |
|
Rubber Products |
(10.1) |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
(24.1) |
20.1 |
(4.9) |
4.6 |
- |
|
Textiles & Apparel |
(19.5) |
(0.4) |
14.8 |
(7.1) |
- |
|
Domestic-oriented Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
(2.5) |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
(15.5) |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
(13.5) |
36.5 |
(10.4) |
13.7 |
- |
|
Paper & Paper Products |
(5.0) |
18.7 |
14.8 |
(7.8) |
- |
|
Crude Oil Refineries |
0.2 |
(11.4) |
9.3 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
47733 : Retail sale of jewellery |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
According to the Retail Group Malaysia (RGM), the wholesale and retail trade sector forecast to grow to 6% in year 2013. During the first quarter of year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers have been enjoying better sales since the government handed out cash from mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to more than 12 million Malaysians. Bookstores and related retail stores have also started enjoying rising sales since the RM250 1Malaysia Book Voucher was distributed to 1.3 million private and public university students. Besides, since early February 2013, handphone traders and retailers selling smartphone accessories have started to benefit from the RM200 rebate on smartphones for 1.5 million young adults aged between 21 and 30 years with a monthly income of not more than RM3,000. |
|
|
|
|
|
The wholesale and retail trade sector grew 6.1% in the first half of the year 2012 driven by strong domestic consumption and the increasing number of large format stores operating in Malaysia, including 180 foreign hypermarkets, superstores and departmental stores as at end of August 2012. In addition, other indicators such as imports of consumption goods were higher by 15.2%. |
|
|
|
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven by higher consumption which benefited from Government initiatives under the 2012 Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100 assistance for all primary and secondary school students. The performance of the sector will also be supported by ongoing efforts to modernise the retail segment under the ETP. In 2012, 500 retail shops and 50 workshops are targeted to be modernised under the Retail Shop Transformation (TUKAR) and Automotive Workshop Modernisation (ATOM) programmes, respectively. As at end of July 2012, 95 workshops have been modernised, surpassing the yearly target, while 393 retail shops have been modernised. |
|
|
|
|
|
Growth of the sector is anticipated to remain encouraging with ongoing efforts by the Government to increase its contribution to the economy. Major initiatives include increasing the number of large format stores such as hypermarkets, superstores and departmental stores are carried out to boost the economy. |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic consumption, therefore the wholesale and retail sector plays a crucial role in driving Malaysia's growth over the next decade despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale and retail sector is expected to boost the country's total Gross National Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 2002,
the Subject is a Private Limited company, focusing on selling diamonds,
precious stones and semi precious stones. 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. The capital standing of the Subject is fair. With an
adequate share capital, the Subject has the potential of expanding its
business in future. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
SHREYA GEMS SDN. BHD. |
|
Financial Year End |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
SUMMARY |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
5,724,615 |
4,208,015 |
4,243,856 |
3,505,102 |
1,518,290 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
5,724,615 |
4,208,015 |
4,243,856 |
3,505,102 |
1,518,290 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
24,826 |
15,640 |
55,765 |
42,384 |
15,887 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
24,826 |
15,640 |
55,765 |
42,384 |
15,887 |
|
Taxation |
(3,199) |
(893) |
(12,293) |
(11,862) |
(5,517) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
21,627 |
14,747 |
43,472 |
30,522 |
10,370 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
113,394 |
91,561 |
48,089 |
17,567 |
7,197 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
113,394 |
91,561 |
48,089 |
17,567 |
7,197 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
135,021 |
106,308 |
91,561 |
48,089 |
17,567 |
|
TRANSFER TO RESERVES - General |
1,524 |
7,086 |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
111 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
136,656 |
113,394 |
91,561 |
48,089 |
17,567 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Hire purchase |
- |
- |
- |
- |
1,867 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
- |
1,867 |
|
|
|
|
|
============= |
============= |
|
SHREYA GEMS SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
8,966 |
9,847 |
13,897 |
34,561 |
50,704 |
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Deferred assets |
- |
- |
- |
- |
676 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
- |
- |
676 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
8,966 |
9,847 |
13,897 |
34,561 |
51,380 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
- |
- |
- |
- |
2,456,361 |
|
Trade debtors |
- |
- |
- |
- |
1,861,633 |
|
Other debtors, deposits & prepayments |
- |
- |
- |
- |
332,524 |
|
Cash & bank balances |
- |
- |
- |
- |
6,133 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2,462,384 |
2,854,890 |
3,981,080 |
3,038,764 |
4,656,651 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
2,471,350 |
2,864,737 |
3,994,977 |
3,073,325 |
4,708,031 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
- |
- |
- |
709,295 |
|
Other creditors & accruals |
- |
- |
- |
- |
3,071,313 |
|
Hire purchase & lease creditors |
- |
- |
- |
- |
12,307 |
|
Amounts owing to director |
- |
- |
- |
- |
525,315 |
|
Provision for taxation |
- |
- |
- |
- |
2,621 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,334,515 |
1,751,343 |
2,898,033 |
2,668,544 |
4,320,851 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,127,869 |
1,103,547 |
1,083,047 |
370,220 |
335,800 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,136,835 |
1,113,394 |
1,096,944 |
404,781 |
387,180 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
350,002 |
350,002 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
350,002 |
350,002 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
136,656 |
113,394 |
91,561 |
48,089 |
17,567 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
136,656 |
113,394 |
91,561 |
48,089 |
17,567 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,136,656 |
1,113,394 |
1,091,561 |
398,091 |
367,569 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Hire purchase creditors |
- |
- |
- |
- |
19,611 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
179 |
- |
5,383 |
6,690 |
19,611 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,136,835 |
1,113,394 |
1,096,944 |
404,781 |
387,180 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHREYA GEMS SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
- |
- |
- |
- |
6,133 |
|
Net Liquid Funds |
- |
- |
- |
- |
6,133 |
|
Net Liquid Assets |
1,127,869 |
1,103,547 |
1,083,047 |
370,220 |
(2,120,561) |
|
Net Current Assets/(Liabilities) |
1,127,869 |
1,103,547 |
1,083,047 |
370,220 |
335,800 |
|
Net Tangible Assets |
1,136,835 |
1,113,394 |
1,096,944 |
404,781 |
387,180 |
|
Net Monetary Assets |
1,127,690 |
1,103,547 |
1,077,664 |
363,530 |
(2,140,172) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
- |
- |
- |
- |
31,918 |
|
Total Liabilities |
1,334,694 |
1,751,343 |
2,903,416 |
2,675,234 |
4,340,462 |
|
Total Assets |
2,471,350 |
2,864,737 |
3,994,977 |
3,073,325 |
4,708,031 |
|
Net Assets |
1,136,835 |
1,113,394 |
1,096,944 |
404,781 |
387,180 |
|
Net Assets Backing |
1,136,656 |
1,113,394 |
1,091,561 |
398,091 |
367,569 |
|
Shareholders' Funds |
1,136,656 |
1,113,394 |
1,091,561 |
398,091 |
367,569 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
350,002 |
350,002 |
|
Total Reserves |
136,656 |
113,394 |
91,561 |
48,089 |
17,567 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
- |
- |
- |
- |
0.00 |
|
Liquid Ratio |
- |
- |
- |
- |
0.51 |
|
Current Ratio |
1.85 |
1.63 |
1.37 |
1.14 |
1.08 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
- |
- |
- |
- |
591 |
|
Debtors Ratio |
- |
- |
- |
- |
448 |
|
Creditors Ratio |
- |
- |
- |
- |
171 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
- |
- |
- |
- |
0.09 |
|
Liabilities Ratio |
1.17 |
1.57 |
2.66 |
6.72 |
11.81 |
|
Times Interest Earned Ratio |
- |
- |
- |
- |
9.51 |
|
Assets Backing Ratio |
1.14 |
1.11 |
1.10 |
1.16 |
1.11 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
0.43 |
0.37 |
1.31 |
1.21 |
1.05 |
|
Net Profit Margin |
0.38 |
0.35 |
1.02 |
0.87 |
0.68 |
|
Return On Net Assets |
2.18 |
1.40 |
5.08 |
10.47 |
4.59 |
|
Return On Capital Employed |
2.18 |
1.40 |
5.08 |
10.47 |
4.44 |
|
Return On Shareholders' Funds/Equity |
1.90 |
1.32 |
3.98 |
7.67 |
2.82 |
|
Dividend Pay Out Ratio (Times) |
0.01 |
- |
- |
- |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
|
|
|
- |
0 |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.