|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RC PRECISION ENGINEERING SDN. BHD |
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|
|
|
Registered Office : |
1-L3-7, |
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Country : |
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|
|
Financials (as on) : |
31.12.2002 |
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Date of Incorporation : |
06.10.2000 |
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Com. Reg. No.: |
528297-H |
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|
Legal Form : |
Exempt Private (Limited By Share) |
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|
|
Line of Business : |
Subject is principally engaged in precision engineering
works |
|
|
|
|
No. of Employees |
150 [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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 32% of government revenue in 2013. Bank Negara Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB earlier raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays
|
Source
: CIA |
|
REGISTRATION NO. |
: |
528297-H |
||||
|
COMPANY NAME |
: |
RC PRECISION
ENGINEERING SDN. BHD |
||||
|
FORMER NAME |
: |
N/A |
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INCORPORATION DATE |
: |
06/10/2000 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
1-L3-7, METRO AVENUE, LINTANG HAJJAH REHMAH, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO. 114 & 114A, PESARA KAMPUNG JAWA, BAYAN LEPAS INDUSTRIAL ESTATE, PHASE 111, NON FREE TRADE SONE (NFTZ),, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-6401583 |
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FAX.NO. |
: |
04-6401585 |
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CONTACT PERSON |
: |
RAVI CHANDRAN ( MANAGING DIRECTOR ) |
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|
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INDUSTRY CODE |
: |
71109 |
||||
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PRINCIPAL ACTIVITY |
: |
PRECISION ENGINEERING WORKS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
||||
|
|
|
|
||||
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SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
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|
||||
|
STAFF STRENGTH |
: |
150 [2014] |
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|
||||||
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LITIGATION |
: |
CLEAR |
||||
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DEFAULTER CHECK |
: |
CLEAR |
||||
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FINANCIAL CONDITION |
: |
N/A |
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PAYMENT |
: |
N/A |
||||
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MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
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|
|
|
||||
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COMMERCIAL RISK |
: |
MODERATE |
||||
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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) precision engineering works.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
10/01/2013 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
31/12/2002 |
MYR 100,000.00 |
MYR 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. RAVICHANAN A/L MANIKAM ACHARI + |
NO. 59 JALAN SUNGAI ARA 1, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
621124-07-5621 6916651 |
400,000.00 |
40.00 |
|
MR. CHEW KAI SEE + |
NO. 22, TINGKAT SUNGAI ARA 4, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
650323-07-5205 A0093043 |
300,000.00 |
30.00 |
|
MR. AHMAD RADZI B ABDUL RAHMAN + |
130 LORONG SUNGAI ARA DUA, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
681009-02-5199 A1130743 |
150,000.00 |
15.00 |
|
MR. TAN GHIN SENG + |
3-4-14,JALAN GANGSA, GEORGETOWN, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA. |
650102-07-5973 A0045851 |
150,000.00 |
15.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MR. AHMAD RADZI B ABDUL RAHMAN |
|
Address |
: |
130 LORONG SUNGAI ARA DUA, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A1130743 |
|
New IC No |
: |
681009-02-5199 |
|
Date of Birth |
: |
09/10/1968 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
16/07/2010 |
|
|
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DIRECTOR 2
|
Name Of Subject |
: |
MR. TAN GHIN SENG |
|
Address |
: |
3-4-14,JALAN GANGSA, GEORGETOWN, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A0045851 |
|
New IC No |
: |
650102-07-5973 |
|
Date of Birth |
: |
02/01/1965 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
01/07/2007 |
|
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|
DIRECTOR 3
|
Name Of Subject |
: |
MR. CHEW KAI SEE |
|
Address |
: |
NO. 22, TINGKAT SUNGAI ARA 4, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A0093043 |
|
New IC No |
: |
650323-07-5205 |
|
Date of Birth |
: |
23/03/1965 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
06/10/2000 |
|
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|
|
DIRECTOR 4
|
Name Of Subject |
: |
MR. RAVICHANAN A/L MANIKAM ACHARI |
|
Address |
: |
NO. 59 JALAN SUNGAI ARA 1, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
6916651 |
|
New IC No |
: |
621124-07-5621 |
|
Date of Birth |
: |
24/11/1962 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/10/2000 |
|
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|
1) |
Name of Subject |
: |
RAVI CHANDRAN |
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Position |
: |
MANAGING DIRECTOR |
|
|
|
|
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|
Auditor |
: |
YEE CHOON KONG & CO |
|
Auditor' Address |
: |
30-1 LORONG 6A/91, TAMAN SHAMELIN PERKASA, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
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|
1) |
Company Secretary |
: |
MS. CHEW AI KEOW |
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|
IC / PP No |
: |
7019916 |
|
|
New IC No |
: |
630503-07-6266 |
|
|
Address |
: |
14 RESERVOIR 2ND AVENUE, 11500 AYER ITAM, PULAU PINANG, MALAYSIA. |
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Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
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|
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 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 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.
PAYMENT RECORD |
|
|
|
||
|
SOURCES OF RAW MATERIALS: |
|
||
|
Local |
: |
YES |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
SINGAPORE,CHINA |
|
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
EUROPE |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
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Payment Mode |
: |
CHEQUES |
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OPERATIONS |
|
Services |
: |
PRECISION ENGINEERING WORKS
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|
Award |
: |
1 ) MS ISO 9001 : 2000 Year :2006
|
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Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2011 |
2009 |
|
|
|
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|
|
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|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
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|
COMPANY |
150 |
90 |
90 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) precision engineering
works.
The Subject provides precision engineering services for the industrial machines
for packing, labelling and others.
Besides this, the Subjectalso undertakes refurbishments for the machines.
The Subject is specialised in automation machine design.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
604-6401583 |
|
Current Telephone Number |
: |
04-6401583 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
NO 114 & 114A, PESARA KAMPUNG JAWA BAYAN LEPAS INDUSTRIAL ESTATE 11900 PENANG |
|
Current Address |
: |
NO. 114 & 114A, PESARA KAMPUNG JAWA, BAYAN LEPAS INDUSTRIAL ESTATE, PHASE 111, NON FREE TRADE SONE (NFTZ),, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
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 |
||||||
|
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 |
|
|
71109 : Other architectural and engineering activities and related technical consultancy n.e.c. |
|
|
|
|
|
INDUSTRY : |
CONSTRUCTION |
|
|
|
|
|
|
|
The construction sector consists of four subsectors: residential, non-residential, civil engineering and special trade works. During a period of rapid economic expansion, the sector generally outperforms Gross Domestic Product (GDP) growth. |
|
|
|
|
|
Construction's contribution to gross domestic product (GDP) is expected to fall to 11.2% in 2013 from 15 % in 2012, with all subsectors registering steady growth. The sector is expected to benefit from the acceleration of ongoing construction activities, particularly from the Economic Transformation Programme (ETP) and Second Rolling Plan (RP2) construction-related projects. Of significance, exploration activities in O&G industries and major projects such as the electrified double-tracking between lpoh -Padang Besar, LPT2 Jabur - Kuala Terengganu, MRT and the River of Life are expected to drive the growth of the civil engineering subsector. The non-residential subsector is expected to expand spurred by the industrial building segment and the commencement of construction of the Tun Razak Exchange (TRX). The residential subsector is also projected to expand, albeit at a moderate pace, after recording several years of strong growth. Key housing development projects, particularly in Sungai Buloh and Bandar Malaysia in Sungai Besi, which are expected to commence in 2013, will support residential construction activities. According to the Minister of Finance, the domestic demand is expected to grow at 5.6% and will remain the main driver of growth in 2013 underpinned by strong private sector expenditure. |
|
|
|
|
|
The industry is set to receive a further boost from a wave of new developments earmarked for 2013, including rail projects worth an estimated $52 billion that should be launched in the coming year. It was predicted that the growth in other sectors will largely drive Malaysia's economy but the construction sector's contribution to GDP could still remain stable. However, while the construction sector is expected to have a solid 2013, it remains hampered by a shortage of skilled labourers, with rapid growth in recent years triggering a drain on its workforce. In late November of 2012, the Builders Association Malaysia (MBAM) request the government to do more to facilitate the training of building workers or run the risk of supplyside bottlenecks delaying new projects. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
RC PRECISION ENGINEERING SDN. BHD |
|
Financial Year End |
2002-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
1,415,963 |
|
|
---------------- |
|
Total Turnover |
1,415,963 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(99,981) |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(99,981) |
|
Taxation |
6,328 |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(93,653) |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(93,653) |
|
|
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(93,653) |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
7,350 |
|
|
---------------- |
|
As restated |
7,350 |
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(86,303) |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(86,303) |
|
|
============= |
|
|
|
|
RC PRECISION ENGINEERING SDN. BHD |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
34,522 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
34,522 |
|
|
|
|
TOTAL CURRENT ASSETS |
574,942 |
|
|
---------------- |
|
TOTAL ASSET |
609,464 |
|
|
============= |
|
|
|
|
TOTAL CURRENT LIABILITIES |
378,265 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
196,677 |
|
|
---------------- |
|
TOTAL NET ASSETS |
231,199 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
100,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
|
|
|
|
Retained profit/(loss) carried forward |
(86,303) |
|
|
---------------- |
|
TOTAL RESERVES |
(86,303) |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
13,697 |
|
|
|
|
TOTAL LONG TERM LIABILITIES |
217,502 |
|
|
---------------- |
|
|
231,199 |
|
|
============= |
|
|
|
|
RC PRECISION ENGINEERING SDN. BHD |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
196,677 |
|
Net Current Assets/(Liabilities) |
196,677 |
|
Net Tangible Assets |
231,199 |
|
Net Monetary Assets |
(20,825) |
|
|
|
|
BALANCE SHEET ITEMS |
|
|
Total Liabilities |
595,767 |
|
Total Assets |
609,464 |
|
Net Assets |
231,199 |
|
Net Assets Backing |
13,697 |
|
Shareholders' Funds |
13,697 |
|
Total Share Capital |
100,000 |
|
Total Reserves |
(86,303) |
|
|
|
|
LIQUIDITY (Times) |
|
|
Current Ratio |
1.52 |
|
|
|
|
SOLVENCY RATIOS (Times) |
|
|
Liabilities Ratio |
43.50 |
|
Assets Backing Ratio |
2.31 |
|
|
|
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
(7.06) |
|
Net Profit Margin |
(6.61) |
|
Return On Net Assets |
(43.24) |
|
Return On Capital Employed |
(43.24) |
|
Return On Shareholders' Funds/Equity |
(683.75) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.