|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
OMYA |
|
|
|
|
Formerly Known As : |
MALAYSIAN CALCIUM CORPORATION SDN BHD (31/05/2000) |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.12.1989 |
|
|
|
|
Com. Reg. No.: |
190278-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Ultra Fine Calcium Carbonate Powders |
|
|
|
|
No. of Employees |
65 |
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. |
: |
190278-D |
|
COMPANY NAME |
: |
OMYA MALAYSIA SDN. BHD. |
|
FORMER NAME |
: |
MALAYSIAN CALCIUM CORPORATION SDN BHD (31/05/2000) |
|
INCORPORATION DATE |
: |
01/12/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
LOT 5026, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 6, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
TEL.NO. |
: |
05-5462188 |
|
FAX.NO. |
: |
05-55147199 |
|
HP.NO. |
: |
0122659746 |
|
EMAIL |
: |
KALVINDER.KAUR@OMYA.COM |
|
WEB SITE |
: |
WWW.OMYA.COM |
|
CONTACT PERSON |
: |
KALVINDER KAUR A/P HARCHARAN SINGH ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
20291 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF ULTRA FINE CALCIUM CARBONATE POWDERS |
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 37,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 193,784,516 [2012] |
|
NET WORTH |
: |
MYR 26,898,752 [2012] |
|
BANKER (S) |
|
PUBLIC BANK BHD |
|
STAFF STRENGTH |
: |
65 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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 ultra fine calcium carbonate powders.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is OMYA AG(FORMELY KNOWN AS
PLUESS-STAUFER AG), a company incorporated in SWITZERLAND.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/11/2013 |
MYR 50,000,000.00 |
MYR 37,000,000.00 |
|
15/02/2013 |
MYR 10,000,000.00 |
MYR 7,000,000.00 |
|
29/04/1991 |
MYR 10,000,000.00 |
MYR 5,058,366.00 |
|
20/11/1990 |
MYR 10,000,000.00 |
MYR 2,422,891.00 |
|
01/12/1989 |
MYR 25,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OMYA AG(FORMELY KNOWN AS PLUESS-STAUFER AG) |
H, 4000665, OFTRINGEN, SWITZERLAND. |
XLZ000006916 |
37,000,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
37,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
212604D |
MALAYSIA |
OMYA KALSIUM SDN. BHD. |
100.00 |
31/12/2013 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. KALVINDER KAUR A/P HARCHARAN SINGH |
|
Address |
: |
35, JALAN 27/45, SEKSYEN 27, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1678978 |
|
New IC No |
: |
701221-14-5150 |
|
Date of Birth |
: |
21/12/1970 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/03/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
JOHN LESLIE COYLE |
|
Address |
: |
67, LORONG CHONG KHOON LIN 3, UKAY HEIGHTS, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
AA931525 |
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
01/07/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. VIJAYABALAN A/L VELU |
|
Address |
: |
17-A, LALUAN KLEDANG 6, BUKIT KLEDANG INDAH, 30200 IPOH, PERAK,
MALAYSIA. |
|
IC / PP No |
: |
A2974669 |
|
New IC No |
: |
741230-08-5635 |
|
Date of Birth |
: |
30/12/1974 |
|
Nationality |
: |
MALAYSIAN INDIAN |
|
Date of Appointment |
: |
10/01/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
JOHN LESLIE COYLE |
|
Address |
: |
67, LORONG CHONG KHOON LIN 3, UKAY HEIGHTS, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
EA468147 |
|
Nationality |
: |
N/A |
|
Date of Appointment |
: |
01/07/2006 |
|
1) |
Name of Subject |
: |
KALVINDER KAUR A/P HARCHARAN SINGH |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
ANDY LIM |
|
|
Position |
: |
SALES MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
LEE DERKSERN |
|
|
Position |
: |
MARKETING MANAGER |
|
|
|
|
|
|
4) |
Name of Subject |
: |
PHILIP HENG |
|
|
Position |
: |
SALES ENGINEER |
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA, LEVEL 10, 47800 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. JOANNE TOH JOO ANN |
|
|
IC / PP No |
: |
A3346341 |
|
|
New IC No |
: |
760331-14-5610 |
|
|
Address |
: |
19, JALAN PANDAN INDAH 5/5, PANDAN INDAH, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. YAP SIT LEE |
|
|
IC / PP No |
: |
A2628835 |
|
|
New IC No |
: |
731220-10-5170 |
|
|
Address |
: |
72, JALAN LE2 LAKE EDGE, BANDAR METRO PUCHONG, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
02/04/1996 |
N/A |
PUBLIC BANK BERHAD |
MYR 10,000.00 |
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 |
Percentage |
: |
100% |
|
Overseas |
: |
NO |
Percentage |
: |
0% |
|
|
|
|
|
|
|
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 |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
30% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
50 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
|
Type of Customer |
: |
PHARMACEUTICAL INDUSTRIES,AGRICULTURE INDUSTRIES,PACKAGING
INDUSTRIES,PAPER MANUFACTURERS,CONSTRUCTION INDUSTRY |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN RUBBER GLOVE MANUFACTURERS ASSOCIATION (MRGMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) |
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2011 |
2010 |
2009 |
|
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
65 |
60 |
60 |
60 |
|
|
|
|
|
|
Branch |
: |
YES
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of ultra
fine calcium carbonate powders.
The Subject are manufacturing of lime stone.
The Subject leading the global industrial minerals.
The Subject has office in Ipoh, Perak.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
05-5462188 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
AT LOT 6 JALAN TELUK PULAI 27/88 SECTION 27 40000 SHAH ALAM SELANGOR
MALAYSIA |
|
Current Address |
: |
LOT 6, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 23th July 2014, we contacted one of the staff from Hr Department, Mr Vijay
and he provided some information on the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
81.03% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
108.47% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. Generally the
Subject was profitable. The favourable return on shareholders' funds and
return on net assets indicate that the Subject's management was efficient in
utilising the assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
57 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
55 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's management was
quite efficient in handling its debtors. The Subject's debtors days were at
an acceptable range, thus the risk of its debts turning bad was minimised.
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 |
: |
Unfavourable |
[ |
0.12 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.16 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Acceptable |
[ |
4.64 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject had no gearing and hence it had virtually no
financial risk. The Subject was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the Subject, having
a zero gearing, will be able to compete better than those which are highly
geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Generally, the Subject's performance has improved with higher turnover
and profit. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
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 |
|
|
20291 : Manufacture of photographic plates, films, sensitized paper
and other sensitized unexposed materials |
|
|
|
|
|
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 |
|
|
Incorporated in 1989, the Subject is a Private Limited company,
focusing on manufacturing of ultra fine calcium carbonate powders. The
Subject has been in business for over two decades. It has built up a strong
clientele base and good reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. Having strong support from its holding company has enabled the
Subject to remain competitive despite the challenging business environment.
The Subject is a large entity with strong capital position. We are confident
with the Subject's business and its future growth prospect.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
OMYA MALAYSIA SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
193,784,516 |
162,925,316 |
96,269,773 |
81,063,581 |
68,374,195 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
193,784,516 |
162,925,316 |
96,269,773 |
81,063,581 |
68,374,195 |
|
Costs of Goods Sold |
(110,101,378) |
(96,912,763) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
83,683,138 |
66,012,553 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
23,358,174 |
3,485,807 |
30,565,092 |
12,378,669 |
8,010,491 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
23,358,174 |
3,485,807 |
30,565,092 |
12,378,669 |
8,010,491 |
|
Taxation |
(1,562,068) |
(136,000) |
(838,539) |
(151,191) |
(804,376) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
21,796,106 |
3,349,807 |
29,726,553 |
12,227,478 |
7,206,115 |
|
Minority interests |
- |
- |
(408,575) |
(335,554) |
(252,711) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
21,796,106 |
3,349,807 |
29,317,978 |
11,891,924 |
6,953,404 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
21,796,106 |
3,349,807 |
29,317,978 |
11,891,924 |
6,953,404 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
12,841,593 |
|
Prior year adjustment |
- |
- |
2,853,711 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
3,802,646 |
26,452,839 |
15,651,022 |
10,905,387 |
12,841,593 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
25,598,752 |
29,802,646 |
44,969,000 |
22,797,311 |
19,794,997 |
|
TRANSFER TO RESERVES - General |
- |
- |
(4,116,161) |
- |
1,110,390 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(5,700,000) |
(26,000,000) |
(14,400,000) |
(10,000,000) |
(10,000,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
19,898,752 |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
6,421,833 |
4,317,462 |
- |
3,021,912 |
3,027,426 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,421,833 |
4,317,462 |
- |
3,021,912 |
3,027,426 |
|
|
============= |
============= |
============= |
============= |
============= |
|
OMYA MALAYSIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
243,091,199 |
224,700,898 |
122,124,723 |
119,607,888 |
116,471,546 |
|
|
|
|
|
|
|
|
Investments |
- |
- |
- |
10,688 |
10,688 |
|
Others |
10,688 |
10,688 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
10,688 |
10,688 |
10,688 |
10,688 |
10,688 |
|
|
|
|
|
|
|
|
Goodwill on consolidation |
2,296,486 |
2,296,486 |
- |
2,296,486 |
5,633,628 |
|
Others |
36,054,253 |
40,456,205 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
38,350,739 |
42,752,691 |
- |
2,296,486 |
5,633,628 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
281,452,626 |
267,464,277 |
122,135,411 |
121,915,062 |
122,115,862 |
|
|
|
|
|
|
|
|
Stocks |
12,141,565 |
10,213,030 |
- |
5,698,442 |
4,825,142 |
|
Trade debtors |
30,365,909 |
21,066,793 |
- |
13,141,712 |
13,294,987 |
|
Other debtors, deposits & prepayments |
2,645,471 |
3,549,589 |
- |
733,565 |
892,553 |
|
Short term deposits |
- |
- |
- |
4,500,000 |
208,470 |
|
Amount due from related companies |
1,443,689 |
1,386,037 |
- |
1,993,945 |
528,601 |
|
Cash & bank balances |
1,297,102 |
1,719,386 |
- |
4,283,856 |
5,960,706 |
|
Others |
1,499,431 |
946,596 |
- |
21,519 |
25,445 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
49,393,167 |
38,881,431 |
29,682,156 |
30,373,039 |
25,735,904 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
330,845,793 |
306,345,708 |
151,817,567 |
152,288,101 |
147,851,766 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
16,732,467 |
16,418,954 |
- |
7,187,876 |
4,318,850 |
|
Other creditors & accruals |
4,654,973 |
6,181,517 |
- |
2,967,690 |
2,710,668 |
|
Short term borrowings/Term loans |
- |
- |
- |
4,375,000 |
5,100,000 |
|
Other borrowings |
- |
- |
- |
- |
7,866,000 |
|
Bill & acceptances payable |
- |
- |
- |
1,454,170 |
354,000 |
|
Amounts owing to holding company |
- |
- |
- |
145,131 |
62,117 |
|
Amounts owing to related companies |
281,945,780 |
272,376,088 |
- |
109,798,517 |
97,515,774 |
|
Provision for taxation |
57,578 |
- |
- |
328,461 |
49,461 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
303,390,798 |
294,976,559 |
118,100,728 |
126,256,845 |
117,976,870 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(253,997,631) |
(256,095,128) |
(88,418,572) |
(95,883,806) |
(92,240,966) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
|
|
|
|
|
|
|
Revaluation reserve |
- |
- |
2,853,711 |
2,853,711 |
2,853,711 |
|
Retained profit/(loss) carried forward |
19,898,752 |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
19,898,752 |
3,802,646 |
29,306,550 |
15,651,022 |
13,759,098 |
|
|
|
|
|
|
|
|
MINORITY INTEREST |
- |
- |
- |
815,264 |
739,711 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
26,898,752 |
10,802,646 |
36,306,550 |
23,466,286 |
21,498,809 |
|
|
|
|
|
|
|
|
Long term loans |
- |
- |
- |
- |
5,375,000 |
|
Deferred taxation |
264,000 |
264,000 |
- |
2,564,970 |
3,001,087 |
|
Others |
292,243 |
302,503 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
556,243 |
566,503 |
264,000 |
2,564,970 |
8,376,087 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
OMYA MALAYSIA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
1,297,102 |
1,719,386 |
- |
8,783,856 |
6,169,176 |
|
Net Liquid Funds |
1,297,102 |
1,719,386 |
- |
7,329,686 |
5,815,176 |
|
Net Liquid Assets |
(266,139,196) |
(266,308,158) |
(88,418,572) |
(101,582,248) |
(97,066,108) |
|
Net Current Assets/(Liabilities) |
(253,997,631) |
(256,095,128) |
(88,418,572) |
(95,883,806) |
(92,240,966) |
|
Net Tangible Assets |
(10,895,744) |
(31,383,542) |
33,716,839 |
23,734,770 |
24,241,268 |
|
Net Monetary Assets |
(266,695,439) |
(266,874,661) |
(88,682,572) |
(104,147,218) |
(105,442,195) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
- |
5,829,170 |
18,695,000 |
|
Total Liabilities |
303,947,041 |
295,543,062 |
118,364,728 |
128,821,815 |
126,352,957 |
|
Total Assets |
330,845,793 |
306,345,708 |
151,817,567 |
152,288,101 |
147,851,766 |
|
Net Assets |
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
Net Assets Backing |
26,898,752 |
10,802,646 |
33,452,839 |
23,466,286 |
21,498,809 |
|
Shareholders' Funds |
26,898,752 |
10,802,646 |
36,306,550 |
23,466,286 |
21,498,809 |
|
Total Share Capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
Total Reserves |
19,898,752 |
3,802,646 |
29,306,550 |
15,651,022 |
13,759,098 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.00 |
0.01 |
- |
0.07 |
0.05 |
|
Liquid Ratio |
0.12 |
0.10 |
- |
0.20 |
0.18 |
|
Current Ratio |
0.16 |
0.13 |
0.25 |
0.24 |
0.22 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
23 |
23 |
- |
26 |
26 |
|
Debtors Ratio |
57 |
47 |
- |
59 |
71 |
|
Creditors Ratio |
55 |
62 |
- |
32 |
23 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
- |
0.25 |
0.87 |
|
Liabilities Ratio |
11.30 |
27.36 |
3.26 |
5.49 |
5.88 |
|
Times Interest Earned Ratio |
4.64 |
1.81 |
- |
5.10 |
3.65 |
|
Assets Backing Ratio |
(1.56) |
(4.48) |
4.82 |
3.39 |
3.46 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
12.05 |
2.14 |
31.75 |
15.27 |
11.72 |
|
Net Profit Margin |
11.25 |
2.06 |
30.45 |
14.67 |
10.17 |
|
Return On Net Assets |
108.47 |
68.64 |
90.65 |
59.16 |
36.95 |
|
Return On Capital Employed |
45.25 |
14.42 |
83.58 |
52.84 |
30.45 |
|
Return On Shareholders' Funds/Equity |
81.03 |
31.01 |
80.75 |
50.68 |
32.34 |
|
Dividend Pay Out Ratio (Times) |
0.26 |
7.76 |
0.49 |
0.84 |
1.44 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
- |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
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%)
|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
OMYA |
|
|
|
|
Formerly Known As : |
MALAYSIAN CALCIUM CORPORATION SDN BHD (31/05/2000) |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.12.1989 |
|
|
|
|
Com. Reg. No.: |
190278-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Ultra Fine Calcium Carbonate Powders |
|
|
|
|
No. of Employees |
65 |
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. |
: |
190278-D |
|
COMPANY NAME |
: |
OMYA MALAYSIA SDN. BHD. |
|
FORMER NAME |
: |
MALAYSIAN CALCIUM CORPORATION SDN BHD (31/05/2000) |
|
INCORPORATION DATE |
: |
01/12/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
LOT 5026, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 6, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
TEL.NO. |
: |
05-5462188 |
|
FAX.NO. |
: |
05-55147199 |
|
HP.NO. |
: |
0122659746 |
|
EMAIL |
: |
KALVINDER.KAUR@OMYA.COM |
|
WEB SITE |
: |
WWW.OMYA.COM |
|
CONTACT PERSON |
: |
KALVINDER KAUR A/P HARCHARAN SINGH ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
20291 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF ULTRA FINE CALCIUM CARBONATE POWDERS |
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 37,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 193,784,516 [2012] |
|
NET WORTH |
: |
MYR 26,898,752 [2012] |
|
BANKER (S) |
|
PUBLIC BANK BHD |
|
STAFF STRENGTH |
: |
65 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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 ultra fine calcium carbonate powders.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is OMYA AG(FORMELY KNOWN AS
PLUESS-STAUFER AG), a company incorporated in SWITZERLAND.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/11/2013 |
MYR 50,000,000.00 |
MYR 37,000,000.00 |
|
15/02/2013 |
MYR 10,000,000.00 |
MYR 7,000,000.00 |
|
29/04/1991 |
MYR 10,000,000.00 |
MYR 5,058,366.00 |
|
20/11/1990 |
MYR 10,000,000.00 |
MYR 2,422,891.00 |
|
01/12/1989 |
MYR 25,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OMYA AG(FORMELY KNOWN AS PLUESS-STAUFER AG) |
H, 4000665, OFTRINGEN, SWITZERLAND. |
XLZ000006916 |
37,000,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
37,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
212604D |
MALAYSIA |
OMYA KALSIUM SDN. BHD. |
100.00 |
31/12/2013 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. KALVINDER KAUR A/P HARCHARAN SINGH |
|
Address |
: |
35, JALAN 27/45, SEKSYEN 27, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1678978 |
|
New IC No |
: |
701221-14-5150 |
|
Date of Birth |
: |
21/12/1970 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/03/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
JOHN LESLIE COYLE |
|
Address |
: |
67, LORONG CHONG KHOON LIN 3, UKAY HEIGHTS, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
AA931525 |
|
Nationality |
: |
NEW ZEALANDER |
|
Date of Appointment |
: |
01/07/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. VIJAYABALAN A/L VELU |
|
Address |
: |
17-A, LALUAN KLEDANG 6, BUKIT KLEDANG INDAH, 30200 IPOH, PERAK,
MALAYSIA. |
|
IC / PP No |
: |
A2974669 |
|
New IC No |
: |
741230-08-5635 |
|
Date of Birth |
: |
30/12/1974 |
|
Nationality |
: |
MALAYSIAN INDIAN |
|
Date of Appointment |
: |
10/01/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
JOHN LESLIE COYLE |
|
Address |
: |
67, LORONG CHONG KHOON LIN 3, UKAY HEIGHTS, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
EA468147 |
|
Nationality |
: |
N/A |
|
Date of Appointment |
: |
01/07/2006 |
|
1) |
Name of Subject |
: |
KALVINDER KAUR A/P HARCHARAN SINGH |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
ANDY LIM |
|
|
Position |
: |
SALES MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
LEE DERKSERN |
|
|
Position |
: |
MARKETING MANAGER |
|
|
|
|
|
|
4) |
Name of Subject |
: |
PHILIP HENG |
|
|
Position |
: |
SALES ENGINEER |
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA, LEVEL 10, 47800 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. JOANNE TOH JOO ANN |
|
|
IC / PP No |
: |
A3346341 |
|
|
New IC No |
: |
760331-14-5610 |
|
|
Address |
: |
19, JALAN PANDAN INDAH 5/5, PANDAN INDAH, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. YAP SIT LEE |
|
|
IC / PP No |
: |
A2628835 |
|
|
New IC No |
: |
731220-10-5170 |
|
|
Address |
: |
72, JALAN LE2 LAKE EDGE, BANDAR METRO PUCHONG, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
02/04/1996 |
N/A |
PUBLIC BANK BERHAD |
MYR 10,000.00 |
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 |
Percentage |
: |
100% |
|
Overseas |
: |
NO |
Percentage |
: |
0% |
|
|
|
|
|
|
|
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 |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
30% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
50 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
|
Type of Customer |
: |
PHARMACEUTICAL INDUSTRIES,AGRICULTURE INDUSTRIES,PACKAGING
INDUSTRIES,PAPER MANUFACTURERS,CONSTRUCTION INDUSTRY |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN RUBBER GLOVE MANUFACTURERS ASSOCIATION (MRGMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) |
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2011 |
2010 |
2009 |
|
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
65 |
60 |
60 |
60 |
|
|
|
|
|
|
Branch |
: |
YES
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of ultra
fine calcium carbonate powders.
The Subject are manufacturing of lime stone.
The Subject leading the global industrial minerals.
The Subject has office in Ipoh, Perak.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
05-5462188 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
AT LOT 6 JALAN TELUK PULAI 27/88 SECTION 27 40000 SHAH ALAM SELANGOR
MALAYSIA |
|
Current Address |
: |
LOT 6, JALAN TELUK PULAI 27/88, SECTION 27, 40000 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 23th July 2014, we contacted one of the staff from Hr Department, Mr Vijay
and he provided some information on the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
81.03% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
108.47% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. Generally the
Subject was profitable. The favourable return on shareholders' funds and
return on net assets indicate that the Subject's management was efficient in
utilising the assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
57 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
55 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's management was
quite efficient in handling its debtors. The Subject's debtors days were at
an acceptable range, thus the risk of its debts turning bad was minimised.
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 |
: |
Unfavourable |
[ |
0.12 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.16 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Acceptable |
[ |
4.64 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject had no gearing and hence it had virtually no
financial risk. The Subject was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the Subject, having
a zero gearing, will be able to compete better than those which are highly
geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Generally, the Subject's performance has improved with higher turnover
and profit. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
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 |
|
|
20291 : Manufacture of photographic plates, films, sensitized paper
and other sensitized unexposed materials |
|
|
|
|
|
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 |
|
|
Incorporated in 1989, the Subject is a Private Limited company,
focusing on manufacturing of ultra fine calcium carbonate powders. The
Subject has been in business for over two decades. It has built up a strong
clientele base and good reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. Having strong support from its holding company has enabled the
Subject to remain competitive despite the challenging business environment.
The Subject is a large entity with strong capital position. We are confident
with the Subject's business and its future growth prospect.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
OMYA MALAYSIA SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
193,784,516 |
162,925,316 |
96,269,773 |
81,063,581 |
68,374,195 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
193,784,516 |
162,925,316 |
96,269,773 |
81,063,581 |
68,374,195 |
|
Costs of Goods Sold |
(110,101,378) |
(96,912,763) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
83,683,138 |
66,012,553 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
23,358,174 |
3,485,807 |
30,565,092 |
12,378,669 |
8,010,491 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
23,358,174 |
3,485,807 |
30,565,092 |
12,378,669 |
8,010,491 |
|
Taxation |
(1,562,068) |
(136,000) |
(838,539) |
(151,191) |
(804,376) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
21,796,106 |
3,349,807 |
29,726,553 |
12,227,478 |
7,206,115 |
|
Minority interests |
- |
- |
(408,575) |
(335,554) |
(252,711) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
21,796,106 |
3,349,807 |
29,317,978 |
11,891,924 |
6,953,404 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
21,796,106 |
3,349,807 |
29,317,978 |
11,891,924 |
6,953,404 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
12,841,593 |
|
Prior year adjustment |
- |
- |
2,853,711 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
3,802,646 |
26,452,839 |
15,651,022 |
10,905,387 |
12,841,593 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
25,598,752 |
29,802,646 |
44,969,000 |
22,797,311 |
19,794,997 |
|
TRANSFER TO RESERVES - General |
- |
- |
(4,116,161) |
- |
1,110,390 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(5,700,000) |
(26,000,000) |
(14,400,000) |
(10,000,000) |
(10,000,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
19,898,752 |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
6,421,833 |
4,317,462 |
- |
3,021,912 |
3,027,426 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,421,833 |
4,317,462 |
- |
3,021,912 |
3,027,426 |
|
|
============= |
============= |
============= |
============= |
============= |
|
OMYA MALAYSIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
243,091,199 |
224,700,898 |
122,124,723 |
119,607,888 |
116,471,546 |
|
|
|
|
|
|
|
|
Investments |
- |
- |
- |
10,688 |
10,688 |
|
Others |
10,688 |
10,688 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
10,688 |
10,688 |
10,688 |
10,688 |
10,688 |
|
|
|
|
|
|
|
|
Goodwill on consolidation |
2,296,486 |
2,296,486 |
- |
2,296,486 |
5,633,628 |
|
Others |
36,054,253 |
40,456,205 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
38,350,739 |
42,752,691 |
- |
2,296,486 |
5,633,628 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
281,452,626 |
267,464,277 |
122,135,411 |
121,915,062 |
122,115,862 |
|
|
|
|
|
|
|
|
Stocks |
12,141,565 |
10,213,030 |
- |
5,698,442 |
4,825,142 |
|
Trade debtors |
30,365,909 |
21,066,793 |
- |
13,141,712 |
13,294,987 |
|
Other debtors, deposits & prepayments |
2,645,471 |
3,549,589 |
- |
733,565 |
892,553 |
|
Short term deposits |
- |
- |
- |
4,500,000 |
208,470 |
|
Amount due from related companies |
1,443,689 |
1,386,037 |
- |
1,993,945 |
528,601 |
|
Cash & bank balances |
1,297,102 |
1,719,386 |
- |
4,283,856 |
5,960,706 |
|
Others |
1,499,431 |
946,596 |
- |
21,519 |
25,445 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
49,393,167 |
38,881,431 |
29,682,156 |
30,373,039 |
25,735,904 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
330,845,793 |
306,345,708 |
151,817,567 |
152,288,101 |
147,851,766 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
16,732,467 |
16,418,954 |
- |
7,187,876 |
4,318,850 |
|
Other creditors & accruals |
4,654,973 |
6,181,517 |
- |
2,967,690 |
2,710,668 |
|
Short term borrowings/Term loans |
- |
- |
- |
4,375,000 |
5,100,000 |
|
Other borrowings |
- |
- |
- |
- |
7,866,000 |
|
Bill & acceptances payable |
- |
- |
- |
1,454,170 |
354,000 |
|
Amounts owing to holding company |
- |
- |
- |
145,131 |
62,117 |
|
Amounts owing to related companies |
281,945,780 |
272,376,088 |
- |
109,798,517 |
97,515,774 |
|
Provision for taxation |
57,578 |
- |
- |
328,461 |
49,461 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
303,390,798 |
294,976,559 |
118,100,728 |
126,256,845 |
117,976,870 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(253,997,631) |
(256,095,128) |
(88,418,572) |
(95,883,806) |
(92,240,966) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
|
|
|
|
|
|
|
Revaluation reserve |
- |
- |
2,853,711 |
2,853,711 |
2,853,711 |
|
Retained profit/(loss) carried forward |
19,898,752 |
3,802,646 |
26,452,839 |
12,797,311 |
10,905,387 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
19,898,752 |
3,802,646 |
29,306,550 |
15,651,022 |
13,759,098 |
|
|
|
|
|
|
|
|
MINORITY INTEREST |
- |
- |
- |
815,264 |
739,711 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
26,898,752 |
10,802,646 |
36,306,550 |
23,466,286 |
21,498,809 |
|
|
|
|
|
|
|
|
Long term loans |
- |
- |
- |
- |
5,375,000 |
|
Deferred taxation |
264,000 |
264,000 |
- |
2,564,970 |
3,001,087 |
|
Others |
292,243 |
302,503 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
556,243 |
566,503 |
264,000 |
2,564,970 |
8,376,087 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
OMYA MALAYSIA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
1,297,102 |
1,719,386 |
- |
8,783,856 |
6,169,176 |
|
Net Liquid Funds |
1,297,102 |
1,719,386 |
- |
7,329,686 |
5,815,176 |
|
Net Liquid Assets |
(266,139,196) |
(266,308,158) |
(88,418,572) |
(101,582,248) |
(97,066,108) |
|
Net Current Assets/(Liabilities) |
(253,997,631) |
(256,095,128) |
(88,418,572) |
(95,883,806) |
(92,240,966) |
|
Net Tangible Assets |
(10,895,744) |
(31,383,542) |
33,716,839 |
23,734,770 |
24,241,268 |
|
Net Monetary Assets |
(266,695,439) |
(266,874,661) |
(88,682,572) |
(104,147,218) |
(105,442,195) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
- |
5,829,170 |
18,695,000 |
|
Total Liabilities |
303,947,041 |
295,543,062 |
118,364,728 |
128,821,815 |
126,352,957 |
|
Total Assets |
330,845,793 |
306,345,708 |
151,817,567 |
152,288,101 |
147,851,766 |
|
Net Assets |
27,454,995 |
11,369,149 |
33,716,839 |
26,031,256 |
29,874,896 |
|
Net Assets Backing |
26,898,752 |
10,802,646 |
33,452,839 |
23,466,286 |
21,498,809 |
|
Shareholders' Funds |
26,898,752 |
10,802,646 |
36,306,550 |
23,466,286 |
21,498,809 |
|
Total Share Capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
Total Reserves |
19,898,752 |
3,802,646 |
29,306,550 |
15,651,022 |
13,759,098 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.00 |
0.01 |
- |
0.07 |
0.05 |
|
Liquid Ratio |
0.12 |
0.10 |
- |
0.20 |
0.18 |
|
Current Ratio |
0.16 |
0.13 |
0.25 |
0.24 |
0.22 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
23 |
23 |
- |
26 |
26 |
|
Debtors Ratio |
57 |
47 |
- |
59 |
71 |
|
Creditors Ratio |
55 |
62 |
- |
32 |
23 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
- |
0.25 |
0.87 |
|
Liabilities Ratio |
11.30 |
27.36 |
3.26 |
5.49 |
5.88 |
|
Times Interest Earned Ratio |
4.64 |
1.81 |
- |
5.10 |
3.65 |
|
Assets Backing Ratio |
(1.56) |
(4.48) |
4.82 |
3.39 |
3.46 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
12.05 |
2.14 |
31.75 |
15.27 |
11.72 |
|
Net Profit Margin |
11.25 |
2.06 |
30.45 |
14.67 |
10.17 |
|
Return On Net Assets |
108.47 |
68.64 |
90.65 |
59.16 |
36.95 |
|
Return On Capital Employed |
45.25 |
14.42 |
83.58 |
52.84 |
30.45 |
|
Return On Shareholders' Funds/Equity |
81.03 |
31.01 |
80.75 |
50.68 |
32.34 |
|
Dividend Pay Out Ratio (Times) |
0.26 |
7.76 |
0.49 |
0.84 |
1.44 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
- |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
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%)