|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIOCON SDN. BHD. |
|
|
|
|
Registered Office : |
Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights,
Level 7, 50490 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
19.01.2011 |
|
|
|
|
Date of Incorporation : |
31.03.2013 |
|
|
|
|
Com. Reg. No.: |
930330-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Pharmaceuticals and Medical Products |
|
|
|
|
No. of Employees |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 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 |
|
REGISTRATION NO. |
: |
930330-U |
|
COMPANY NAME |
: |
BIOCON SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
19/01/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
MENARA MILENIUM, JALAN DAMANLELA, PUSAT BANDAR DAMANSARA, DAMANSARA
HEIGHTS, LEVEL 7, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
NO.1, JALAN BIOTEKNOLOGI 1, KAWASAN PERINDUSTRIAN SILC, 79200 BANDAR NUSAJAYA,
JOHOR, MALAYSIA. |
|
TEL.NO. |
: |
07-5600000 |
|
FAX.NO. |
: |
07-5600050 |
|
WEB SITE |
: |
WWW.BIOCON.COM |
|
CONTACT PERSON |
: |
KAN MAZUMDAR SHAW ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
21007 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF PHARMACEUTICALS AND MEDICAL PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 63,373,840.00 DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
MYR 56,143,815 [2013] |
|
BANKER (S) |
|
HSBC BANK MALAYSIA BHD |
|
STAFF STRENGTH |
: |
150 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act, 1965 and the company must file its annual returns, together
with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) manufacturing
of pharmaceuticals and medical products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is BIOCON LIMITED, a
company incorporated in INDIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
20/09/2013 |
MYR 100,000,000.00 |
MYR 63,373,840.00 |
|
16/08/2013 |
MYR 100,000,000.00 |
MYR 57,440,000.00 |
|
15/02/2013 |
MYR 50,000,000.00 |
MYR 45,000,000.00 |
|
19/01/2011 |
MYR 50,000,000.00 |
MYR 30.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BIOCON LIMITED |
20TH KM, HOSUR ROAD, ELECTRONICS CITY, BANGALORE, INDIA. |
L24234KA1978PLC00341 |
6,337,384.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
6,337,384.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
KIRAN MAZUMDAR SHAW |
|
Address |
: |
GLENMORE, HOSKUR GATE, OFF 20TH KM HOSUR ROAD, ELECTRINIC CITY,
BANGALORE-560, 100, INDIA. |
|
IC / PP No |
: |
Z1863599 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
19/01/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
JOHN MCCALLUM MARSHALL SHAW |
|
Address |
: |
GLENMORE, HOSKUR GATE, OFF 20TH KM HOSUR ROAD, ELECTRINIC CITY,
BANGALORE-560, 100, INDIA. |
|
IC / PP No |
: |
761074085 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
19/01/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. PAN SENG WEE |
|
Address |
: |
11, JALAN SETIA IMPIAN U13/4N, SETIA ALAM, SEKSYEN U13, 40170 SHAH
ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3068483 |
|
New IC No |
: |
750810-10-5510 |
|
Date of Birth |
: |
10/08/1975 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
31/07/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. CHONG LAI LAI |
|
Address |
: |
12, JALAN MARGOSA SD 10/5M, BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A3333449 |
|
New IC No |
: |
760314-14-5184 |
|
Date of Birth |
: |
14/03/1976 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
01/11/2012 |
DIRECTOR 5
|
Name Of Subject |
: |
DR ARUN SURESH CHANDAVARKAR |
|
Address |
: |
376, MALBAR MANSION, 13, MAIN ROAD, KORAMANGALA, 3RD BLOCK,
BANGALORE-560, 034, INDIA. |
|
IC / PP No |
: |
G7929276 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
19/01/2011 |
|
1) |
Name of Subject |
: |
KAN MAZUMDAR SHAW |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG |
|
Auditor' Address |
: |
SUITE 11.2, MENARA PELANGI, 2, JALAN KUNING, TAMAN PELANGI, LEVEL 11,
80400 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. CHUA SIEW CHUAN |
|
|
IC / PP No |
: |
5461293 |
|
|
New IC No |
: |
580826-05-5408 |
|
|
Address |
: |
36, JALAN USJ 5/3, UEP SUBANG JAYA, PETALING JAYA, 47610 SUBANG JAYA,
SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. YEOW SZE MIN |
|
|
|
|
|
|
|
New IC No |
: |
830105-14-6114 |
|
|
Address |
: |
36, JALAN USJ 5/3, UEP SUBANG JAYA, PETALING JAYA, 47610 SUBANG JAYA,
SELANGOR, MALAYSIA. |
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
STANDARD CHARTERED BANK |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
18/05/2011 |
A CHARGE UNDER THE NATIONAL LAND CODE 1965 DATED 18 MAY 2011 (THE
"LAND CHARGE") MADE BETWEEN THE COMPANY AND MAYBANK INVESTMENT BANK
BERHAD ("SECURITY AGENT") |
MAYBANK INVESTMENT BANK BERHAD |
MYR 130,000,000.00 |
Unsatisfied |
|
2 |
18/05/2011 |
A DEBENTURE DATED 18 MAY 2011 & AN ACCOUNTS ASSIGNMENT DATED 18
MAY 2011 & AN INSURANCE ASSIGNMENT DATED 18 MAY 2011 |
MAYBANK INVESTMENT BANK BERHAD |
MYR 130,000,000.00 |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection 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 |
: |
YES |
|
Overseas |
: |
YES |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
150 |
140 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
pharmaceuticals and medical products.
Biocon's bio-pharma manufacturing and research facility located within a 40
acre compound, at Bio-XCell, Johor in Malaysia, the new regional biotech hub of
Asia that offers a state-of-the-art biotechnology ecosystem.
The facility is the largest integrated insulins production plant in Asia, with
an investment of over USD 160 million, the largest foreign investment in this
sector in Malaysia.
Biocon has been recognized as an Entry Point Project (EPP) by the Govt. of
Malaysia and is expected to play a major role in the government's economic
transformation program.
Biocon is the largest Indian Insulins Company and is credited with developing
the world's first Pichia-based recombinant human Insulin, INSUGEN®. It provides
insulins in over 30 countries.
Biocon's Malaysia facility will further augment its capabilities to cater to
the global needs of diabetic patients for affordable insulin and insulin
analogs.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-5600000 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
NO. 1, JALAN BIOTEKNOLOGI 1, KAWASAN PERINDUSTRIAN SILC, 79200,
NUSAJAYA, JOHOR, 79200, |
|
Current Address |
: |
NO.1, JALAN BIOTEKNOLOGI 1, KAWASAN PERINDUSTRIAN SILC, 79200 BANDAR
NUSAJAYA, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the staff from the registered office and she provided some
information.
The Subject refused to comment anything regarding its nil turnover.
|
Overall Assessment : |
||||||
|
The Subject has generated an unfavourable return on shareholders'
funds indicating that the management was inefficient in utilising its funds
to generate return. The Subject is in good liquidity position with its
current liabilities well covered by it current assets. Unfortunately, the
high gearing ratio clearly implied that the Subject was supported by more
debt than equity. Thus, the Subject is exposed to high financial risk. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : LIMITED |
||||||
|
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 |
- |
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
MSIC CODE |
|
|
21007 : Manufacture of biotech pharmaceuticals |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The Manufacturing sector is one of the important sectors to the growth
of the Malaysian economy. According to Ministry of Finance, the manufacturing
sector is expected to grow 4.9% in year 2013. Export oriented-industries are
expected to benefit from the higher growth of global trade, while
domesticoriented industries expand in line with the better consumer sentiment
and business confidence. The resource-based industries are envisaged to grow
steadily attributed to improved demand for petroleum, chemical, rubber and
plastic products. With better job prospects and higher disposable income, the
transportation equipment subsector, in particular, the passenger car segment
is expected to expand. |
|
|
|
|
|
Value-added of the manufacturing sector expanded 5% during the first
half of 2012. Output of the sector rose 5.2% during the first sevenmonths of 2012
in line with the increase in sales value of manufactured products by 6.5% to
RM363.1 billion. Output from domesticoriented industries continued to expand
8.6% while export-oriented industries grew 4.1%. |
|
|
|
|
|
According to the Department of Statistics, the sales value of the
Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion)
to record RM52.4 billion as compared to RM48.8 billion reported in year 2012.
Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2
billion) as compared with the preceding month. The sales value in December
2012 has been revised positive 7.5% year-on-year to record RM52.6 billion. |
|
|
|
|
|
Output of rubber products increased 3.6% in the first seven month of 2012
mainly supported by continuous demand for rubber gloves. Output of rubber
gloves grew 5.9% on account of the expansion in the global healthcare
industry and wider usage of gloves in other sectors. Similarly, output of
catheters, especially for use in medical appliances, also registered a strong
growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced
10.9% in tandem with slowing external demand from the automotive industry,
especially China. |
|
|
|
|
|
Meanwhile, production of wood and wood products rebounded 4.6% largely
supported by higher demand for wooden and cane furniture (33.5%). The
positive performance was attributed to vibrant higher demand from major
export destinations such as China and the United States (US) for Malaysian-made
furniture. Demand from China accelerated further following the country’s
rising income level and the implementation of zero import duty on Malaysian
made-furniture. Malaysia government has growth target of 6.5% for wood based
furniture where estimated to reach up to RM53 billion by year 2020.The
government providing pioneer status for tax exemption and investment tax
allowance for this industry as a boost up step towards produce good quality
product and to meet the world demand. |
|
|
|
|
|
The output of chemicals and chemical products rose 9.9% in the first
seven month of year 2012 on account of increasing demand for plastic products
(11.8%) and basic chemicals (11.1%). External demand for plastic packaging
materials surged during the early part of the year 2012, particularly from
Japan and Thailand, as manufacturers resumed operations, which were
interrupted by natural calamities and power outages. Chemical production are
expected to show 7.5 % in year 2013 inline with Malaysia as one of the
largest contributor in world Chemicals & Chemical industries. |
|
|
|
|
|
Tax and non-tax incentives provided by goverment encourage
manufacturers to move up the value chain of manufacturing industry. The new growth
initiatives by goverment in the manufacturing sector such assolar and medial
services can be important drivers of growth apart from helping to diversify
the manufacturing base and contributing to the resilience of the sector. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
BIOCON SDN. BHD. |
|
Financial Year End |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
|
|
|
|
TURNOVER |
0 |
0 |
|
Other Income |
95,594 |
62,120 |
|
|
---------------- |
---------------- |
|
Total Turnover |
95,594 |
62,120 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(1,017,622) |
(278,563) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(1,017,622) |
(278,563) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(1,017,622) |
(278,563) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
(278,563) |
- |
|
|
---------------- |
---------------- |
|
As restated |
(278,563) |
- |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(1,296,185) |
(278,563) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(1,296,185) |
(278,563) |
|
|
============= |
============= |
|
|
|
|
|
Others |
91,500 |
236 |
|
|
---------------- |
---------------- |
|
|
91,500 |
236 |
|
|
============= |
============= |
|
BIOCON SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
127,583,010 |
52,716,591 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
127,583,010 |
52,716,591 |
|
|
|
|
|
Other debtors, deposits & prepayments |
38,992,797 |
14,757,054 |
|
Short term deposits |
- |
4,500,000 |
|
Cash & bank balances |
6,411,323 |
5,275,527 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
45,404,120 |
24,532,581 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
172,987,130 |
77,249,172 |
|
|
============= |
============= |
|
|
|
|
|
Other creditors & accruals |
42,402,738 |
26,177,658 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
42,402,738 |
26,177,658 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
3,001,382 |
(1,645,077) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
130,584,392 |
51,071,514 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
57,440,000 |
45,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
57,440,000 |
45,000,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
(1,296,185) |
(278,563) |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
(1,296,185) |
(278,563) |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
56,143,815 |
44,721,437 |
|
|
|
|
|
Long term loans |
71,150,500 |
3,060,000 |
|
Others |
3,290,077 |
3,290,077 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
74,440,577 |
6,350,077 |
|
|
---------------- |
---------------- |
|
|
130,584,392 |
51,071,514 |
|
|
============= |
============= |
|
|
|
|
|
BIOCON SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
6,411,323 |
9,775,527 |
|
Net Liquid Funds |
6,411,323 |
9,775,527 |
|
Net Liquid Assets |
3,001,382 |
(1,645,077) |
|
Net Current Assets/(Liabilities) |
3,001,382 |
(1,645,077) |
|
Net Tangible Assets |
130,584,392 |
51,071,514 |
|
Net Monetary Assets |
(71,439,195) |
(7,995,154) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
71,150,500 |
3,060,000 |
|
Total Liabilities |
116,843,315 |
32,527,735 |
|
Total Assets |
172,987,130 |
77,249,172 |
|
Net Assets |
130,584,392 |
51,071,514 |
|
Net Assets Backing |
56,143,815 |
44,721,437 |
|
Shareholders' Funds |
56,143,815 |
44,721,437 |
|
Total Share Capital |
57,440,000 |
45,000,000 |
|
Total Reserves |
(1,296,185) |
(278,563) |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.15 |
0.37 |
|
Liquid Ratio |
1.07 |
0.94 |
|
Current Ratio |
1.07 |
0.94 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
1.27 |
0.07 |
|
Liabilities Ratio |
2.08 |
0.73 |
|
Times Interest Earned Ratio |
(10.12) |
(1,179.35) |
|
Assets Backing Ratio |
2.27 |
1.13 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
0.00 |
0.00 |
|
Net Profit Margin |
0.00 |
0.00 |
|
Return On Net Assets |
(0.71) |
(0.54) |
|
Return On Capital Employed |
(0.71) |
(0.54) |
|
Return On Shareholders' Funds/Equity |
(1.81) |
(0.62) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.