MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOON KENG INDUSTRIAL PARTS (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Suite D23, 2nd Floor, Plaza Pekeliling, 2, Jalan Tun Razak, 50400 Kuala
Lumpur, Wilayah Persekutuan |
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|
Country : |
Malaysia |
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|
|
|
Financials (as on) : |
20.11.2002 |
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Date of Incorporation : |
28.06.1993 |
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Com. Reg. No.: |
268296-V |
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|
Legal Form : |
Exempt Private (Limited By Share) |
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Line of Business : |
· Engaged in trading of lorry spare parts. Wholesaler and retail sale of all kinds of parts,
components, supplies, tools and accessories for motor vehicles |
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|
No. of Employees : |
05 (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 |
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|
Payment Behaviour : |
Unknown |
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|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. |
: |
268296-V |
||||
|
COMPANY NAME |
: |
SOON KENG
INDUSTRIAL PARTS (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
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INCORPORATION DATE |
: |
28/06/1993 |
||||
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||||
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COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
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LISTED STATUS |
: |
NO |
||||
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REGISTERED ADDRESS |
: |
SUITE D23, 2ND FLOOR, PLAZA PEKELILING, 2,
JALAN TUN RAZAK, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO 20, JALAN ARFAH 2, MEDAN NIAGA SERI
KUCHING, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-62529353 |
||||
|
FAX.NO. |
: |
03-62529285 |
||||
|
CONTACT PERSON |
: |
LWA KWAN ( DIRECTOR ) |
||||
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|
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INDUSTRY CODE |
: |
45300 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF LORRY SPARE PARTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
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|
|
|
||||
|
STAFF STRENGTH |
: |
5 [2014] |
||||
|
||||||
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LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
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FINANCIAL CONDITION |
: |
N/A |
||||
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PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
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|
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|
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
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 of lorry spare parts.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 500,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. LAW MING CHIN + |
P 36, BATU 4 1/2, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
690105-01-6043 |
187,500.00 |
37.50 |
|
MR. LAW KWAN + |
2, JALAN GUNUNG SEMANGGUL, TAMAN IMPIAN, BATU 4 1/4, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
500612-01-5029 |
168,750.00 |
33.75 |
|
MR. LAW POH CHUAN + |
18, JALAN DESA RESIDEN 3, LEVENUE 2, DESA PARKCITY, KEPONG, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
710228-01-5329 |
62,500.00 |
12.50 |
|
MS. LOH SAU LIN + |
66, JALAN SELINGSING, OFF JALAN IPOH, TAMAN SEGAMBUT INDAH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
611201-06-5170 |
62,500.00 |
12.50 |
|
MR. TSEN SEONG LI + |
25, JALAN DAUN INAI 3, SUNWAY SPK DAMANSARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
711015-10-5237 |
18,750.00 |
3.75 |
|
|
|
|
--------------- |
------ |
|
|
|
|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. TSEN SEONG LI |
|
Address |
: |
25, JALAN DAUN INAI 3, SUNWAY SPK DAMANSARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
711015-10-5237 |
|
Date of Birth |
: |
15/10/1971 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/05/2007 |
|
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DIRECTOR 2
|
Name Of Subject |
: |
MR. LAW POH CHUAN |
|
Address |
: |
18, JALAN DESA RESIDEN 3, LEVENUE 2, DESA PARKCITY, KEPONG, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
710228-01-5329 |
|
Date of Birth |
: |
28/02/1971 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/07/1995 |
|
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DIRECTOR 3
|
Name Of Subject |
: |
MS. LOH SAU LIN |
|
Address |
: |
66, JALAN SELINGSING, OFF JALAN IPOH, TAMAN SEGAMBUT INDAH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
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|
|
|
New IC No |
: |
611201-06-5170 |
|
Date of Birth |
: |
01/12/1961 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/07/1995 |
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DIRECTOR 4
|
Name Of Subject |
: |
MR. LAW KWAN |
|
Address |
: |
2, JALAN GUNUNG SEMANGGUL, TAMAN IMPIAN, BATU 4 1/4, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
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|
New IC No |
: |
500612-01-5029 |
|
Date of Birth |
: |
12/06/1950 |
|
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|
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Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/06/1993 |
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DIRECTOR 5
|
Name Of Subject |
: |
MR. LAW MING CHIN |
|
Address |
: |
P 36, BATU 4 1/2, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
690105-01-6043 |
|
Date of Birth |
: |
05/01/1969 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/07/1993 |
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1) |
Name of Subject |
: |
LWA KWAN |
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|
Position |
: |
DIRECTOR |
|
Auditor |
: |
LIM HOON NAM & CO. |
|
Auditor' Address |
: |
SUITE D24, 2ND FLOOR, PLAZA PEKELILING,
NO. 2, JALAN TUN RAZAK, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
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|
1) |
Company Secretary |
: |
MS. YAP SIEW CHENG |
|
|
|
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New IC No |
: |
541021-10-6210 |
|
|
Address |
: |
7,LORONG LANG TOMPOK 1, TAMAN SRI BINTANG,
52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
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2) |
Company Secretary |
: |
MR. ANG NGANG @ THUM ANG NGANG |
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New IC No |
: |
440510-08-5905 |
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|
Address |
: |
NO 20, JALAN HELANG SIPUT 6 (JLN 103),
KEPONG BARU, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
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Banking relations are maintained principally with :
|
1) |
Name |
: |
HONG LEONG BANK BHD |
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2) |
Name |
: |
PUBLIC BANK BHD |
|
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|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/12/1993 |
N/A |
MALAYAN BANKING BERHAD |
MYR 200,000.00 |
Satisfied |
|
2 |
20/12/1993 |
N/A |
MALAYAN BANKING BERHAD |
MYR 100,000.00 |
Satisfied |
|
3 |
20/04/1995 |
N/A |
MALAYAN BANKING BERHAD |
MYR 100,000.00 |
Satisfied |
|
4 |
30/03/1996 |
N/A |
MALAYAN BANKING BERHAD |
MYR 157,000.00 |
Satisfied |
|
5 |
06/01/1997 |
N/A |
MALAYAN BANKING BERHAD |
MYR 180,000.00 |
Satisfied |
|
6 |
20/11/1997 |
N/A |
MALAYAN BANKING BERHAD |
MYR 300,000.00 |
Satisfied |
|
7 |
15/01/2003 |
N/A |
HONG LEONG BANK BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
8 |
20/07/2009 |
OPEN CHARGE |
PUBLIC BANK BHD |
- |
Unsatisfied |
* 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.
* 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 |
: |
N/A |
|
Overseas |
: |
N/A |
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|
The Subject refused to disclose its suppliers.
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
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Credit Term |
: |
N/A |
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Payment Mode |
: |
CASH |
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Goods Traded |
: |
LORRY SPARE PARTS
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Total Number of Employees: |
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||||||||
|
YEAR |
2014 |
2013 |
2010 |
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|||||||||
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GROUP |
N/A |
N/A |
N/A |
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COMPANY |
5 |
5 |
6 |
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Branch |
: |
NO
|
Other
Information:
The Subject is
principally engaged in the (as a / as an) trading of lorry spare parts.
The Subject sells spare parts for lorries.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0362529353 |
|
Current Telephone Number |
: |
03-62529353 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
NO 20, JALAN ARFAH 2, MEDAN NIAGA SERI
KUCHING,51200,KUALA LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
NO 20, JALAN ARFAH 2, MEDAN NIAGA SERI
KUCHING, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
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|
Latest Financial Accounts |
: |
NO |
Other
Investigations
we contacted one of the staff from the Subject and she provided some
information.
|
The Subject is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for the
information of the public. Therefore, we are not able to comment on the
Subject's financial performance. |
||||||
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Overall financial
condition of the Subject : N/A |
||||||
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Major Economic
Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic
Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private
Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public
Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months
of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of
New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of
Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New
Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business
Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
|
|
|
|
|
|
|
INDUSTRIES ( %
of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
|
|
|
|
|
|
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
(1.1) |
(3.4) |
10.8 |
(2.8) |
- |
|
Rubber |
(19.8) |
9.9 |
6.1 |
(0.6) |
- |
|
Forestry & Logging |
(5.9) |
(3.3) |
(7.6) |
(2.2) |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
(0.7) |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing
Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry
Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
|
|
|
|
|
|
|
Mining |
(3.8) |
0.2 |
(5.7) |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
(1.7) |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
|
|
|
|
|
|
|
Manufacturing # |
(9.4) |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented
Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.9) |
1.6 |
- |
|
Rubber Products |
(10.1) |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
(24.1) |
20.1 |
(4.9) |
4.6 |
- |
|
Textiles & Apparel |
(19.5) |
(0.4) |
14.8 |
(7.1) |
- |
|
Domestic-oriented
Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
(2.5) |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
(15.5) |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
(13.5) |
36.5 |
(10.4) |
13.7 |
- |
|
Paper & Paper Products |
(5.0) |
18.7 |
14.8 |
(7.8) |
- |
|
Crude Oil Refineries |
0.2 |
(11.4) |
9.3 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry
Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
|
|
|
|
|
|
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR
Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry
Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
|
|
|
|
|
|
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry
Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Estimate / Preliminary |
|
|
|
|
|
|
** Forecast |
|
|
|
|
|
|
# Based On Manufacturing Production
Index |
|||||
|
MSIC CODE |
|
|
45300 : Wholesale and retail sale of all kinds of parts, components,
supplies, tools and accessories for motor vehicles |
|
|
|
|
|
INDUSTRY : |
MOTOR VECHICLE |
|
|
|
|
|
|
|
The total industry volume (TIV) for year 2013 forcasted 640 000 units.
This is an increase of 2.0% compared to the year 2012. Sales of passenger
vehicles in the year 2013 forcasted increase by 2.0% to 563 000 units compared
to 552 189 units at the year 2012. While sales of comercial vehicles in year
2013 forcasted to increase by 2.0% to 77 000 units compared to 75 564 units
at the year 2012. |
|
|
|
|
|
It is a big challenge for the TIV of year 2013 to create another high
record. However, Malaysia's GPD growth is forcasted to be 5.6% in year 2013.
This is driven by exports and domestic demand and is expected to give
confidence in consumer sentiments. Besides, multiplier effects from the
Economic Transformation Programme's (ETP) projects would give a further boost
to the domestic economy and create greater demand for new vehicles. |
|
|
|
|
|
According to the Malaysian Automotive Association (MAA), the
implimentation of the Bank Negara's guidelines on responsible financing practices
from 1st January 2012 coused a slowdown in new vehicle purchase in first
quarter 2012. However, the total industry volume (TIV) of the year 2012
surged to a historical high of 627,753 units which is an all time record
achievement for the industry. This record had overtaken the previous highest
record of 605,156 units achieved in 2010. It had also outperformed the MAA's
TIV forcast of 615,000 units. The main contributors to the growth were led by
Perodua and Proton, followed by Toyota, Honda and Nissan. |
|
|
|
|
|
The total registration of new passenger vehicles in year 2012 reached
552,189 unts compare with 535,113 units in year 2011. Which had bring an
increase of 3.2% (17,076 units) of growth rate in the registration of
passenger vehicles. While the total registration for commercial vehicles n
2012 was 75,564 units which is an increase of 6.2% (10,554 units). Besides,
the production of new vehicles also recorded an increase of 6.8% (36,105
units) in year 2012. According to the president of Malaysian Automotive
Association (MAA), the record new vehicle sales in 2012 was due to factors
such as strong economic growth, the implementation of infrastructure projects
under the Economic Transformation Programme (ETP), increased consumer
spending and consumption due to stable employment and rising disposable
income, introduction of new models at competitive prices as well as
aggressive sales campaigns by car companies. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
Incorporated in
1993, the Subject is an Exempt Private company, focusing on trading of lorry
spare parts. With its long presence in the industry coupled with its vast
experiences in the business, the Subject should have built up certain
goodwill with its clients over times. With a weak shareholders' backing, the
Subject's capital position is weak. Inadequate capital may be a constraint to
the Subject as it limits its ability to expand its business in future. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
SOON KENG
INDUSTRIAL PARTS (M) SDN. BHD. |
|
Financial Year End |
2002-11-30 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
7,268,001 |
|
|
---------------- |
|
Total Turnover |
7,268,001 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
193,399 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
193,399 |
|
Taxation |
(79,326) |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
114,073 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
114,073 |
|
|
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
114,073 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
401,132 |
|
|
---------------- |
|
As restated |
401,132 |
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
515,205 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
515,205 |
|
|
============= |
|
|
|
|
SOON KENG INDUSTRIAL
PARTS (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
1,005,343 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
1,005,343 |
|
|
|
|
CURRENT ASSETS |
|
|
TOTAL CURRENT ASSETS |
4,691,163 |
|
|
---------------- |
|
TOTAL ASSET |
5,696,506 |
|
|
============= |
|
|
|
|
CURRENT
LIABILITIES |
|
|
TOTAL CURRENT LIABILITIES |
4,686,653 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
4,510 |
|
|
---------------- |
|
TOTAL NET ASSETS |
1,009,853 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
300,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
300,000 |
|
|
|
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
515,205 |
|
|
---------------- |
|
TOTAL RESERVES |
515,205 |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
815,205 |
|
|
|
|
LONG TERM
LIABILITIES |
|
|
TOTAL LONG TERM LIABILITIES |
194,648 |
|
|
---------------- |
|
|
1,009,853 |
|
|
============= |
|
|
|
|
SOON KENG
INDUSTRIAL PARTS (M) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
4,510 |
|
Net Current Assets/(Liabilities) |
4,510 |
|
Net Tangible Assets |
1,009,853 |
|
Net Monetary Assets |
(190,138) |
|
|
|
|
BALANCE SHEET
ITEMS |
|
|
Total Liabilities |
4,881,301 |
|
Total Assets |
5,696,506 |
|
Net Assets |
1,009,853 |
|
Net Assets Backing |
815,205 |
|
Shareholders' Funds |
815,205 |
|
Total Share Capital |
300,000 |
|
Total Reserves |
515,205 |
|
|
|
|
LIQUIDITY
(Times) |
|
|
Current Ratio |
1.00 |
|
|
|
|
SOLVENCY RATIOS
(Times) |
|
|
Liabilities Ratio |
5.99 |
|
Assets Backing Ratio |
3.37 |
|
|
|
|
PERFORMANCE
RATIO (%) |
|
|
Operating Profit Margin |
2.66 |
|
Net Profit Margin |
1.57 |
|
Return On Net Assets |
19.15 |
|
Return On Capital Employed |
19.15 |
|
Return On Shareholders' Funds/Equity |
13.99 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
UK Pound |
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
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.