|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRO TECHNOLOGIES SDN. BHD. |
|
|
|
|
Formerly Known As : |
ADV INTEGRO SDN BHD (08/04/2002) |
|
|
|
|
Registered Office : |
Wisma Goshen, 60 & 62, Jalan Ss 22/21, Damansara Jaya, 2nd Floor,
47400 Petaling Jaya, Selangor |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
19.09.2000 |
|
|
|
|
Com. Reg. No.: |
526623-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the (as a / as an) it solution
provider for banks. |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself
since the 1970s from a producer of raw materials into an emerging multi-sector
economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve
high-income status by 2020 and to move farther up the value-added production
chain by attracting investments in Islamic finance, high technology industries,
biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. The NAJIB administration also is continuing efforts to
boost domestic demand and reduce the economy's dependence on exports.
Nevertheless, exports - particularly of electronics, oil and gas, palm oil and
rubber - remain a significant driver of the economy. As an oil and gas
exporter, Malaysia has profited from higher world energy prices, although the
rising cost of domestic gasoline and diesel fuel, combined with sustained
budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls,
through initial reductions in energy and sugar subsidies and the announcement
of the 2015 implementation of a 6% goods and services tax. The government is
also trying to lessen its dependence on state oil producer Petronas. The oil
and gas sector supplies about 32% of government revenue in 2013. Bank Negara
Malaysia (central bank) maintains healthy foreign exchange reserves, and a
well-developed regulatory regime has limited Malaysia's exposure to riskier
financial instruments and the global financial crisis. Nevertheless, Malaysia
could be vulnerable to a fall in commodity prices or a general slowdown in
global economic activity because exports are a major component of GDP. In order
to attract increased investment, NAJIB earlier raised possible revisions to the
special economic and social preferences accorded to ethnic Malays under the New
Economic Policy of 1970, but retreated in 2013 after he encountered significant
opposition from Malay nationalists and other vested interests. In September
2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP),
policies that favor and advance the economic condition of ethnic Malays.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
526623-U |
|
COMPANY NAME |
: |
INTEGRO TECHNOLOGIES SDN. BHD. |
|
FORMER NAME |
: |
ADV INTEGRO SDN BHD (08/04/2002) |
|
INCORPORATION DATE |
: |
19/09/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
WISMA GOSHEN, 60 & 62, JALAN SS 22/21, DAMANSARA JAYA, 2ND FLOOR,
47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
SUITE 3, LEVEL 21, BLOCK 2B, PLAZA SENTRAL, JALAN STESEN SENTRAL 5,
50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-22614079 |
|
FAX.NO. |
: |
03-22614078 |
|
WEB SITE |
: |
WWW.INTEGROSYS.COM |
|
CONTACT PERSON |
: |
WONG LEE SIN ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
62091 |
|
PRINCIPAL ACTIVITY |
: |
IT SOLUTION PROVIDER FOR BANKS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 4,813,214 [2013] |
|
NET WORTH |
: |
MYR 701,025 [2013] |
|
BANKER (S) |
|
MALAYAN BANKING BHD |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
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) it solution
provider for banks.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is INTEGRO TECHNOLOGIES PTE
LTD, a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is AURIONPRO SOLUTIONS
LIMITED, a company incorporated in INDIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
19/09/2000 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
INTEGRO TECHNOLOGIES PTE LTD |
438B, ALEXANDRA ROAD, 05-11, ALEXANDRA TECHNOPARK, 119968, SINGAPORE. |
200005556C |
100,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SHEKHAR MULLATTI |
|
Address |
: |
1, JALAN KUALA, 07-01, SINGAPORE, 239639, SINGAPORE. |
|
IC / PP No |
: |
Z2077342 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
26/01/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
PARESH CHANDULAL ZAVERI |
|
Address |
: |
3, SIGLAP ROAD, 06-23, MANDARIN GARDENS, 448907, SINGAPORE. |
|
IC / PP No |
: |
Z1787499 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
26/01/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. WONG LEE SIN |
|
Address |
: |
26, JALAN BS 3/4, SEKSYEN 3, TAMAN BUKIT SERDANG, 43300 SERI
KEMBANGAN, SELANGOR, MALAYSIA. |
|
New IC No |
: |
810227-04-5049 |
|
Date of Birth |
: |
27/02/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/12/2011 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. GAN YONG HAO |
|
Address |
: |
23, JALAN JASA 24B, TAMAN MEDAN PEJASA, 46000 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
New IC No |
: |
870119-06-5581 |
|
Date of Birth |
: |
19/01/1987 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/11/2013 |
|
1) |
Name of Subject |
: |
WONG LEE SIN |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
GANE |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
KENNY |
|
|
Position |
: |
ADMIN & HUMAN RESOURCE MANAGER |
|
Auditor |
: |
ROGER YUE, TAN & ASSOCIATES |
|
Auditor' Address |
: |
WISMA GOSHEN , 60 & 62, JALAN SS 22/21, DAMANSARA JAYA, GROUND
& 1ST FLOOR, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. LAM LEE SAN |
|
|
IC / PP No |
: |
A2855638 |
|
|
New IC No |
: |
740810-14-5740 |
|
|
Address |
: |
B-02-17, SRI CAMELLIA APT., JALAN PUTERI 7/15, BANDAR PUTERI PUCHONG,
47100 PUCHONG, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. ERICIA TAN YOKE KUAN |
|
|
|
|
|
|
|
New IC No |
: |
820603-14-6214 |
|
|
Address |
: |
C-17-06, AMPANG PRIMA CONDOMINIUM, JALAN WAWASAN AMPANG 2/5, BANDAR
BARU AMPANG, 68000 AMPANG, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of investigation.
* 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 |
The Subject refused to disclose its suppliers country.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
THAILAND |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
N/A |
|||
|
Type of Customer |
: |
BANKS |
|||
|
Services |
: |
IT SOLUTION PROVIDER FOR BANKS
|
|
|
|
|
|
|
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2013 |
2011 |
2010 |
2009 |
|
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
80 |
65 |
40 |
34 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) it solution provider
for banks.
The Subject's headquarters is situated in Singapore.
The Subject develops large-scale J2EE-based solutions for the financial
industry.
The Subject's group of employees is led by ex- Bankers who have good knowledge
about banking services and how the Subject's product can be improved to assist
the banks.
The product suite consists of two main categories:
* The SmartLender suite
* The Internet Banking suite
Each product is further sub-divided into modules, to cater to the needs and
requirements of different banks and countries. The bank enjoys the flexibility
of implementing the various modules in phases, in accordance with the bank’s
requirements and available budget.
The SmartLender suite comprises of the SmartLender Retail and SmartLender
Corporate products. Within each of these products are standalone modules - e.g.
Credit Processing System, Credit Control System, Credit Administration System,
Collateral Management System, SmartLender Data Warehouse, and etc - which may
be implemented in stages.
The Internet Banking suite consists of Retail Internet Banking and Corporate
Internet Banking. The latter is further sub-divided into two main products,
i.e. Cash Management and Trade Finance. Similarly, these products are made up
of further standalone modules, which again can be implemented in stages.
Integro’s applications are developed on a common platform, the Open Finance
Architecture (OFA).
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-22614079 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
UNIT 16.09 16TH FLOOR KENANGA I INTERNATIONAL JALAN SULTAN ISMAIL
50250 MALAYSIA |
|
Current Address |
: |
SUITE 3, LEVEL 21, BLOCK 2B, PLAZA SENTRAL, JALAN STESEN SENTRAL 5,
50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 25th July 2014, we contacted one of the staff from the Subject and she
provided some information about the Subject.
The Subject had shifted from the address provided.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
5.15% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
11.35% |
] |
|
|
|
|
|
|
|
|
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The Subject's management have been
efficient in controlling its operating costs. The unfavourable return on
shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
126 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The Subject's debtors ratio was high. The Subject should
tighten its credit control and improve its collection period. The Subject had
a favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.40 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.40 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.04 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Due to the efficient control of its operating costs, the Subject was
able to remain profitable despite lower turnover achieved during the year.
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 did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. The Subject as a lowly
geared company, will be more secured compared to those highly geared companies.
It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : FAIR |
||||||
|
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 |
|
|
62091 : Information Communication Technology (ICT) system security |
|
|
|
|
|
INDUSTRY : |
INFORMATION TECHNOLOGY |
|
|
|
|
|
|
|
Malaysian IT spending is expected to reach US$5.6bn in 2013, up 7%,
although economic activity is expected to slow over the coming quarters.
Demand for IT products and services is forecast to stay resilient overall,
even as economic growth moderates. There should be several areas of
opportunity, particularly in key spending verticals such as telecoms, and a
new government Digital Malaysia Plan was unveiled in 2012. Spending on IT
products and services should be boosted by growing enterprise and government
interest in cloud computing, and ICT-friendly budget measures, but much will
depend on confidence in a sustainable economic recovery. |
|
|
|
|
|
Malaysia's Information Technology Industry is expected to continue
perform well in 2013, despite the possible constraints of the global economy.
This is especially in light of the global ICT industry forecast, which is expected
to grow by 3% in 2013 with global ICT spending estimated to reach US$3.7
trillion, in spite of earlier estimation pegging global growth to only be in
the region of 2.5%. |
|
|
|
|
|
At the global level, demand for personal computers (PCs) remains weak
with declining orders notably from advanced economies. In addition, the
growing popularity of smartphones and media tablets has also affected the
sales of PCs despite the introduction of the Ultrabook, which provides better
mobile computing solutions. Consequently, output of the office, accounting
and machinery segment in Malaysia contracted further by 6.9% during the first
seven months of 2012. |
|
|
|
|
|
Moreover, the computer hardware sales had reach US$2.7billion in year
2012 and it expected to growth to US$2.9billion in year 2013. Where else, the
sales of software had reach US$876million in 2012 and it expected to continue
growth to US$952million in 2013. |
|
|
|
|
|
The IT services sales had reached US$1.6billion in 2012 and forcasted
to growth US$1.8billion in 2013. Moreover, in IT services, 83 companies were
granted the Multimedia Super Corridor Malaysia (MSC Malaysia) status with
total estimated investment of RM1,465.3 million and 7,891 employment
opportunities during the first eight months of 2012. The ICT industry in Malaysia
estimated to provide 50,000 total jobs and RM5.5billion investments by 2015
since the ICT services sector is expected to continue to play a crucial role
in contributing to Malaysia’s aim of achieving high income status by 2020. |
|
|
|
|
|
Government introduced lower interest rates and government import tax
exemptions for broadband equipment, including notebooks as a steps to
increase ICT market value. 2012 Malaysian PC sales supported by the
government will encourage to the greater broadband penetration. Besides, in
2012 the government announced its latest Digital Malaysia Masterplan to drive
the next stageof development of Malaysia's ICT sector. The plan will propose
a number of measures to strengthen Malaysia's ICT ecosystem, including talent
development, as well as stimulatingdemand by consumers and businesses for ICT
products and services. Encouraging the creation ofmore local applications for
cloud computing is expected to be one focus of the Digital Malaysiaplan. The
government's plan to develop a national cloud computing programme should also
driveopportunities in this key emerging area for vendors. |
|
|
|
|
|
The rapid growth of digital information in Malaysia has been
inevitable with several national initiatives of the government, including the
Digital Malaysia programme which aims to advance our country towards a
developed digital economy by 2020. It is expected that the growth of digital
information will continue moving towards into 2013. While organisations in
the digital economy could leverage on the information they generate everyday
to better serve customers and increase productivity, the same information can
be a major liability if not properly protected and managed. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 2000, the Subject is a Private Limited company,
focusing on IT solution provider for banks. 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. Having strong support from its holding company
has enabled the Subject to remain competitive despite the challenging
business environment.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
Financial Year End |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
2009-06-30 |
|
Months |
12 |
12 |
12 |
9 |
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 |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
4,813,214 |
6,914,972 |
9,722,464 |
5,881,522 |
12,135,904 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
4,813,214 |
6,914,972 |
9,722,464 |
5,881,522 |
12,135,904 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
79,535 |
43,315 |
7,938 |
230,486 |
86,305 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
79,535 |
43,315 |
7,938 |
230,486 |
86,305 |
|
Taxation |
(43,415) |
(49,936) |
(28,000) |
(52,041) |
(12,783) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
36,120 |
(6,621) |
(20,062) |
178,445 |
73,522 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
564,905 |
571,526 |
591,588 |
413,143 |
339,621 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
601,025 |
564,905 |
571,526 |
591,588 |
413,143 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
601,025 |
564,905 |
571,526 |
591,588 |
413,143 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
94,547 |
119,815 |
169,127 |
56,015 |
109,904 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
94,547 |
119,815 |
169,127 |
56,015 |
109,904 |
|
|
|
|
|
|
|
|
Trade debtors |
1,665,708 |
2,179,535 |
2,723,791 |
3,255,979 |
3,466,669 |
|
Other debtors, deposits & prepayments |
103,465 |
110,388 |
48,540 |
39,206 |
113,647 |
|
Amount due from holding company |
345,134 |
- |
- |
- |
- |
|
Cash & bank balances |
12,170 |
401,806 |
113,286 |
954,421 |
1,383,205 |
|
Others |
- |
13,395 |
40,000 |
15,000 |
31,826 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2,126,477 |
2,705,124 |
2,925,617 |
4,264,606 |
4,995,347 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
2,221,024 |
2,824,939 |
3,094,744 |
4,320,621 |
5,105,251 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
352,646 |
415,661 |
1,042,937 |
771,240 |
|
Other creditors & accruals |
1,487,322 |
976,313 |
1,752,931 |
999,430 |
778,672 |
|
Bank overdraft |
27,673 |
- |
- |
- |
- |
|
Amounts owing to holding company |
- |
831,075 |
254,626 |
1,586,666 |
3,042,196 |
|
Provision for taxation |
5,004 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,519,999 |
2,160,034 |
2,423,218 |
3,629,033 |
4,592,108 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
606,478 |
545,090 |
502,399 |
635,573 |
403,239 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
601,025 |
564,905 |
571,526 |
591,588 |
413,143 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
601,025 |
564,905 |
571,526 |
591,588 |
413,143 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEGRO TECHNOLOGIES SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
12,170 |
401,806 |
113,286 |
954,421 |
1,383,205 |
|
Net Liquid Funds |
(15,503) |
401,806 |
113,286 |
954,421 |
1,383,205 |
|
Net Liquid Assets |
606,478 |
545,090 |
502,399 |
635,573 |
403,239 |
|
Net Current Assets/(Liabilities) |
606,478 |
545,090 |
502,399 |
635,573 |
403,239 |
|
Net Tangible Assets |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
Net Monetary Assets |
606,478 |
545,090 |
502,399 |
635,573 |
403,239 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
27,673 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
1,519,999 |
2,160,034 |
2,423,218 |
3,629,033 |
4,592,108 |
|
Total Assets |
2,221,024 |
2,824,939 |
3,094,744 |
4,320,621 |
5,105,251 |
|
Net Assets |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
Net Assets Backing |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
Shareholders' Funds |
701,025 |
664,905 |
671,526 |
691,588 |
513,143 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
601,025 |
564,905 |
571,526 |
591,588 |
413,143 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.01 |
0.19 |
0.05 |
0.26 |
0.30 |
|
Liquid Ratio |
1.40 |
1.25 |
1.21 |
1.18 |
1.09 |
|
Current Ratio |
1.40 |
1.25 |
1.21 |
1.18 |
1.09 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
126 |
115 |
102 |
202 |
104 |
|
Creditors Ratio |
0 |
19 |
16 |
65 |
23 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.04 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
2.17 |
3.25 |
3.61 |
5.25 |
8.95 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
7.01 |
6.65 |
6.72 |
6.92 |
5.13 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
1.65 |
0.63 |
0.08 |
3.92 |
0.71 |
|
Net Profit Margin |
0.75 |
(0.10) |
(0.21) |
3.03 |
0.61 |
|
Return On Net Assets |
11.35 |
6.51 |
1.18 |
33.33 |
16.82 |
|
Return On Capital Employed |
10.91 |
6.51 |
1.18 |
33.33 |
16.82 |
|
Return On Shareholders' Funds/Equity |
5.15 |
(1.00) |
(2.99) |
25.80 |
14.33 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.