|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
STERIPACK |
|
|
|
|
Registered Office : |
Upper Penthouse, Wisma Rakyat, 2, Jalan Raja Abdullah, Off
Jalan Sultan Ismail, 50300 Kuala Lumpur, Wilayah Persekutuan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
24.09.2007 |
|
|
|
|
Com. Reg. No.: |
789482-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing and trading of medical device and medical
packaging products |
|
|
|
|
No. of Employees |
45 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
789482-W |
||||
|
COMPANY NAME |
: |
STERIPACK ASIA SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
24/09/2007 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
UPPER PENTHOUSE, WISMA RAKYAT, 2, JALAN RAJA ABDULLAH, OFF JALAN SULTAN ISMAIL, 50300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 119992, JALAN CANANG EMAS 8, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31673596 |
||||
|
FAX.NO. |
: |
03-31673597 |
||||
|
CONTACT PERSON |
: |
JOHN MICHAEL WARD ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
32500 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF MEDICAL DEVICE AND MEDICAL PACKAGING PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 25,000,000.00
DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 17,533,652 [2013] |
||||
|
NET WORTH |
: |
MYR 4,272,959 [2013] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
45 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND
|
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 and trading of medical device and medical packaging products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is STERIPACK LTD, a company incorporated in IRELAND.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/03/2013 |
MYR 25,000,000.00 |
MYR 25,000,000.00 |
|
11/09/2011 |
MYR 25,000,000.00 |
MYR 8,240,000.00 |
|
30/09/2009 |
MYR 25,000,000.00 |
MYR 8,140,000.00 |
|
26/12/2008 |
MYR 25,000,000.00 |
MYR 8,000,000.00 |
|
29/08/2008 |
MYR 25,000,000.00 |
MYR 5,360,000.00 |
|
18/07/2008 |
MYR 25,000,000.00 |
MYR 2,860,000.00 |
|
30/06/2008 |
MYR 25,000,000.00 |
MYR 360,002.00 |
|
24/09/2007 |
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 |
(%) |
|
JOHN MICHAEL WARD + |
10, JALAN 7/1, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA. |
LB0045489 |
140,000.00 |
0.56 |
|
GARETT MOORE + |
KILPATRICK MULLINGAR, WESTMEATH, IRELAND. |
P323037 |
1.00 |
0.00 |
|
STERIPACK LTD |
CLARA, CO. OFFALY, IRELAND. |
214158 |
24,859,999.00 |
99.44 |
|
|
|
|
--------------- |
------ |
|
|
|
|
25,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
STEVEN JOHN MARTIN |
|
Address |
: |
18, JALAN TR 9/6, GREEN ACRESS 2, TROPICANA GOLF & COUNTRY RESORT, 47410 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
090028791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
17/11/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. KOH CHIEK KEY |
|
Address |
: |
70-2, BLOCK J, RAMPAI COURT, TAMAN SRI RAMPAI, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A1626583 |
|
New IC No |
: |
700815-05-5107 |
|
Date of Birth |
: |
15/08/1970 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/09/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
AIDAN MICHAEL O'BRIEN |
|
Address |
: |
CARTRONAGEERAGH, LONGFORD, IRELAND. |
|
IC / PP No |
: |
P348044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
24/09/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
GARETT MOORE |
|
Address |
: |
KILPATRICK MULLINGAR, WESTMEATH, IRELAND. |
|
IC / PP No |
: |
P323037 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
IRISH |
|
Date of Appointment |
: |
24/09/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
JOHN MICHAEL WARD |
|
Address |
: |
10, JALAN 7/1, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
LB0045489 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
IRISH |
|
Date of Appointment |
: |
17/11/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
JOHN MICHAEL WARD |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
KOH CHIEK KEY |
|
|
Position |
: |
FINANCE & ADMIN DIRECTOR |
|
|
|
|
|
|
3) |
Name of Subject |
: |
IVENE |
|
|
Position |
: |
ADMIN & HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
Auditor |
: |
RSM ROBERT TEO,KUAN & CO. |
|
Auditor' Address |
: |
WISMA RKT, BLOCK A, 2, JALAN RAJA ABDULLAH, OFF JALAN SULTAN ISMAIL, 2ND FLOOR, 50300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. WOO CHOOI YOKE |
|
|
IC / PP No |
: |
6807051 |
|
|
New IC No |
: |
620517-10-6172 |
|
|
Address |
: |
7, JALAN IKHLAS 2, TAMAN IKHLAS, BANDAR SUNGAI LONG, 43000 KAJANG, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. ENG BEE HONG |
|
|
IC / PP No |
: |
8254998 |
|
|
New IC No |
: |
570809-71-5006 |
|
|
Address |
: |
15, JALAN ANGGERIK ERIA 31/104A, KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
01/12/2008 |
GENERAL FACILITY AGREEMENT & DEBENTURE |
CIMB BANK BERHAD |
MYR 12,007,320.00 |
Unsatisfied |
|
2 |
01/12/2008 |
GENERAL FACILITY AGREEMENT & MEMORANDUM |
CIMB BANK BERHAD |
MYR 12,007,320.00 |
Unsatisfied |
|
3 |
17/07/2013 |
GENERAL FACILITY AGREEMENT |
CIMB BANK BERHAD |
- |
Unsatisfied |
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
|
|
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
The Subject refused to disclosed its suppliers country and percentage.
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 |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
HOSPITALS,PHARMACIES |
|||
|
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|
|
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
B.BRAUN MEDICAL
INDUSTRIES SDN BHD
|
|||||
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2011 |
2010 |
|
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
45 |
45 |
45 |
30 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of medical device and medical packaging products.
The Subject is one of the company listed under STERIPACKGROUP of companies.
The Subject is a leading global supplier of cleanroom sterilised packaging
solutions for the Medical Device Industry offering a one stop solution for
Medical Device companies looking to have their products assembled, packaged,
sterilised and tested all under one roof.
The Subject undertakes the following business operations:
* Flexible medical packaging
* Contract engineering
* Contract manufacturing services
* Package testing
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-31673596 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LOT 119982 JALAN CANANG EMAS 8 TELOK GONG 42000 KLANG SELANGOR MALAYSIA |
|
Current Address |
: |
LOT 119992, JALAN CANANG EMAS 8, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the
staff from the Subject and she provided some information on the Subject.
We were unable to verify the address provided as it is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(107.18%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(27.49%) |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.Higher losses before tax during the year could be due to the higher operating costs incurred. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Unfavourable |
[ |
92 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
55 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
39 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. 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 |
[ |
0.24 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.48 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 |
: |
Unfavourable |
[ |
(4.14 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.36 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject incurred losses in the year. It did not generate sufficient income to service its interest. If the situation does not improve, the Subject may be vulnerable to default in servicing the interest. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the Subject's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. 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's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : POOR |
||||||
|
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 |
|
|
|
|
|
|
MSIC CODE |
|
|
32500 : Manufacture of medical and dental instrument and supplies |
|
|
|
|
|
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 |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
STERIPACK ASIA SDN. BHD. |
|
Financial Year End |
2013-09-30 |
2012-09-30 |
2011-09-30 |
2010-09-30 |
2009-09-30 |
|
Months |
12 |
12 |
12 |
12 |
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 |
17,533,652 |
14,545,908 |
6,211,949 |
5,218,770 |
3,516,464 |
|
Other Income |
185,628 |
421,693 |
3,124 |
632,248 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
17,719,280 |
14,967,601 |
6,215,073 |
5,851,018 |
3,516,464 |
|
Costs of Goods Sold |
(10,626,858) |
(9,237,713) |
(3,944,832) |
(3,213,695) |
(2,882,454) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
7,092,422 |
5,729,888 |
2,270,241 |
2,637,323 |
634,010 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(4,579,769) |
(2,221,082) |
(3,863,785) |
(3,667,118) |
(4,922,098) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(4,579,769) |
(2,221,082) |
(3,863,785) |
(3,667,118) |
(4,922,098) |
|
Taxation |
- |
0 |
0 |
0 |
0 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(4,579,769) |
(2,221,082) |
(3,863,785) |
(3,667,118) |
(4,922,098) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
(16,662,472) |
(14,441,390) |
(10,577,605) |
(6,910,487) |
(1,988,389) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
(16,662,472) |
(14,441,390) |
(10,577,605) |
(6,910,487) |
(1,988,389) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(21,242,241) |
(16,662,472) |
(14,441,390) |
(10,577,605) |
(6,910,487) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(21,242,241) |
(16,662,472) |
(14,441,390) |
(10,577,605) |
(6,910,487) |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
891,385 |
542,272 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
891,385 |
542,272 |
- |
- |
- |
|
|
============= |
============= |
|
|
|
|
BALANCE SHEET |
|
STERIPACK ASIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
22,747,425 |
20,961,635 |
21,614,176 |
20,965,231 |
19,827,565 |
|
|
|
|
|
|
|
|
INTANGIBLE ASSETS |
|
|
|
|
|
|
Deferred/Expenditure carried forward |
- |
- |
206,966 |
- |
- |
|
Others |
103,483 |
172,472 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
103,483 |
172,472 |
206,966 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
22,850,908 |
21,134,107 |
21,821,142 |
20,965,231 |
19,827,565 |
|
|
|
|
|
|
|
|
Stocks |
4,406,175 |
3,955,133 |
2,362,775 |
1,430,641 |
739,219 |
|
Trade debtors |
2,656,773 |
2,132,196 |
851,831 |
1,077,190 |
421,833 |
|
Other debtors, deposits & prepayments |
604,326 |
1,052,226 |
746,022 |
377,106 |
919,335 |
|
Short term deposits |
109,999 |
109,999 |
106,795 |
104,191 |
100,960 |
|
Amount due from holding company |
- |
369,057 |
366,995 |
358,607 |
435,456 |
|
Amount due from related companies |
- |
100,700 |
- |
- |
- |
|
Cash & bank balances |
962,997 |
828,952 |
247,441 |
421,741 |
185,987 |
|
Others |
- |
- |
1,300 |
1,300 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
8,740,270 |
8,548,263 |
4,683,159 |
3,770,776 |
2,802,790 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
31,591,178 |
29,682,370 |
26,504,301 |
24,736,007 |
22,630,355 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
1,128,988 |
1,193,724 |
473,636 |
459,348 |
107,280 |
|
Other creditors & accruals |
1,647,294 |
571,327 |
600,117 |
493,694 |
1,297,889 |
|
Hire purchase & lease creditors |
157,838 |
590,423 |
552,527 |
517,065 |
483,879 |
|
Bank overdraft |
- |
- |
- |
333,159 |
172,910 |
|
Short term borrowings/Term loans |
770,180 |
733,577 |
738,586 |
727,373 |
763,843 |
|
Amounts owing to holding company |
14,469,845 |
9,263,674 |
20,067,673 |
13,122,728 |
5,849,986 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
18,174,145 |
12,352,725 |
22,432,539 |
15,653,367 |
8,675,787 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(9,433,875) |
(3,804,462) |
(17,749,380) |
(11,882,591) |
(5,872,997) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
13,417,033 |
17,329,645 |
4,071,762 |
9,082,640 |
13,954,568 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
25,000,000 |
25,000,000 |
8,240,000 |
8,140,000 |
8,140,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
25,000,000 |
25,000,000 |
8,240,000 |
8,140,000 |
8,140,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Share premium |
515,200 |
515,200 |
515,200 |
515,200 |
515,200 |
|
Retained profit/(loss) carried forward |
(21,242,241) |
(16,662,472) |
(14,441,390) |
(10,577,605) |
(6,910,487) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
(20,727,041) |
(16,147,272) |
(13,926,190) |
(10,062,405) |
(6,395,287) |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
4,272,959 |
8,852,728 |
(5,686,190) |
(1,922,405) |
1,744,713 |
|
|
|
|
|
|
|
|
Long term loans |
8,925,629 |
8,374,032 |
9,065,426 |
9,759,991 |
10,447,736 |
|
Hire purchase creditors |
218,445 |
102,885 |
692,526 |
1,245,054 |
1,762,119 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
9,144,074 |
8,476,917 |
9,757,952 |
11,005,045 |
12,209,855 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
13,417,033 |
17,329,645 |
4,071,762 |
9,082,640 |
13,954,568 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
STERIPACK ASIA SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
1,072,996 |
938,951 |
354,236 |
525,932 |
286,947 |
|
Net Liquid Funds |
1,072,996 |
938,951 |
354,236 |
192,773 |
114,037 |
|
Net Liquid Assets |
(13,840,050) |
(7,759,595) |
(20,112,155) |
(13,313,232) |
(6,612,216) |
|
Net Current Assets/(Liabilities) |
(9,433,875) |
(3,804,462) |
(17,749,380) |
(11,882,591) |
(5,872,997) |
|
Net Tangible Assets |
13,313,550 |
17,157,173 |
3,864,796 |
9,082,640 |
13,954,568 |
|
Net Monetary Assets |
(22,984,124) |
(16,236,512) |
(29,870,107) |
(24,318,277) |
(18,822,071) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
10,072,092 |
9,800,917 |
11,049,065 |
12,582,642 |
13,630,487 |
|
Total Liabilities |
27,318,219 |
20,829,642 |
32,190,491 |
26,658,412 |
20,885,642 |
|
Total Assets |
31,591,178 |
29,682,370 |
26,504,301 |
24,736,007 |
22,630,355 |
|
Net Assets |
13,417,033 |
17,329,645 |
4,071,762 |
9,082,640 |
13,954,568 |
|
Net Assets Backing |
4,272,959 |
8,852,728 |
(5,686,190) |
(1,922,405) |
1,744,713 |
|
Shareholders' Funds |
4,272,959 |
8,852,728 |
(5,686,190) |
(1,922,405) |
1,744,713 |
|
Total Share Capital |
25,000,000 |
25,000,000 |
8,240,000 |
8,140,000 |
8,140,000 |
|
Total Reserves |
(20,727,041) |
(16,147,272) |
(13,926,190) |
(10,062,405) |
(6,395,287) |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.06 |
0.08 |
0.02 |
0.03 |
0.03 |
|
Liquid Ratio |
0.24 |
0.37 |
0.10 |
0.15 |
0.24 |
|
Current Ratio |
0.48 |
0.69 |
0.21 |
0.24 |
0.32 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
92 |
99 |
139 |
100 |
77 |
|
Debtors Ratio |
55 |
54 |
50 |
75 |
44 |
|
Creditors Ratio |
39 |
47 |
44 |
52 |
14 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
2.36 |
1.11 |
(1.94) |
(6.55) |
7.81 |
|
Liabilities Ratio |
6.39 |
2.35 |
(5.66) |
(13.87) |
11.97 |
|
Times Interest Earned Ratio |
(4.14) |
(3.10) |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
0.53 |
0.69 |
0.47 |
1.12 |
1.71 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
(26.12) |
(15.27) |
(62.20) |
(70.27) |
(139.97) |
|
Net Profit Margin |
(26.12) |
(15.27) |
(62.20) |
(70.27) |
(139.97) |
|
Return On Net Assets |
(27.49) |
(9.69) |
(94.89) |
(40.38) |
(35.27) |
|
Return On Capital Employed |
(26.97) |
(9.28) |
(79.97) |
(36.92) |
(33.69) |
|
Return On Shareholders' Funds/Equity |
(107.18) |
(25.09) |
67.95 |
190.76 |
(282.12) |
|
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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.