|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
IRSB CORPORATION
(M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
IPOH RECYCLING SDN BHD |
|
|
|
|
Registered Office : |
5, Persiaran Kilang, Jelapang Industrial Estate, 30100
Ipoh, Perak, |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
13.05.1992 |
|
|
|
|
Com. Reg. No.: |
240142-U |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of rice and commodity products |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 32% of government revenue in 2013. Bank Negara Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB earlier raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays
|
Source
: CIA |
|
REGISTRATION NO. |
: |
240142-U |
||||
|
COMPANY NAME |
: |
IRSB CORPORATION (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
IPOH RECYCLING SDN BHD
(12/12/2008) |
||||
|
INCORPORATION DATE |
: |
13/05/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
5, PERSIARAN KILANG, JELAPANG INDUSTRIAL ESTATE, 30100 IPOH, PERAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO. 5, PERSIARAN KILANG, JELAPANG INDUSTRIAL ESTATE, 30100 IPOH, PERAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
05-5270077 |
||||
|
FAX.NO. |
: |
05-5275262 |
||||
|
CONTACT PERSON |
: |
K THIYAGU A/L KANDASAMY ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF RICE AND COMMODITY PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 3,300,000.00
DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND |
The Subject is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, suing or be sued by other companies. The Subject is governed by the Companies Act, 1965 and must file in its annual return. The Subject need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the Subject is able to meet all its obligations as and when they fall due. Although the Subject is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.
The Subject is principally engaged in the (as a / as an) trading of rice and commodity products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 5,000,000.00 |
MYR 3,300,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ARUMUGAM JEYA |
1E, LINGKARAN MERU VALLEY 1, MERU GOLF & COUNTRY CLUB, 30020 IPOH, PERAK, MALAYSIA. |
H033118 |
990,000.00 |
30.00 |
|
MR. K THIYAGU A/L KANDASAMY + |
4 LORONG MANGGA 16, TAMAN MANGGA JURU, 30100 IPOH, PERAK, MALAYSIA. |
751229-02-5327 A3198393 |
627,000.00 |
19.00 |
|
MR. GITHARAN A/L HARI KRISHNAN |
1E LINGKARAN MERU VALLEY 1, MERU GOLF & COUNTRY CLUB, 30020 IPOH, PERAK, MALAYSIA. |
920603-08-5915 |
594,000.00 |
18.00 |
|
SANKARALINGAM A/L THUPPANAN |
NO.5, PERSIARAN KILANG, JELAPANG INDUSTRIAL ESTATE, 30100 IPOH, PERAK, MALAYSIA. |
E3864685 |
594,000.00 |
18.00 |
|
MR. THIRUMARAN A/L KOVAL KRISHNAN |
164, JALAN NG SONG TEIK, TAMAN PERTAMA, 30100 IPOH, PERAK, MALAYSIA. |
740322-08-5443 A2769366 |
495,000.00 |
15.00 |
|
--------------- |
------ |
|||
|
3,300,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
822792V |
MALAYSIA |
INDO MAL FERRO ALLOYS SDN. BHD. |
100.00 |
29/03/2013 |
|
939428W |
MALAYSIA |
IRSB DEVELOPMENT SDN. BHD. |
100.00 |
29/03/2013 |
|
902985P |
MALAYSIA |
RENTAK BERPADU PIPING SDN. BHD. |
51.00 |
29/03/2013 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
JEYA ARUMUGAM |
|
Address |
: |
NO 46 JALAN NG SONG TEIK, TAMAN PERMATA, 30100 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
A7950716 |
|
Date of Appointment |
: |
08/06/1999 |
DIRECTOR 2
|
Name Of Subject |
: |
ARUMUGAM JEYA |
|
Address |
: |
1E, LINGKARAN MERU VALLEY 1, MERU GOLF & COUNTRY CLUB, 30020 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
G9996783 |
|
Date of Appointment |
: |
18/01/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. K THIYAGU A/L KANDASAMY |
|
Address |
: |
4 LORONG MANGGA 16, TAMAN MANGGA JURU, 30100 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
A3198393 |
|
New IC No |
: |
751229-02-5327 |
|
Date of Birth |
: |
29/12/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/08/2006 |
|
1) |
Name of Subject |
: |
K THIYAGU A/L KANDASAMY |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
MY & CO. |
|
Auditor' Address |
: |
11A JALAN DATO HAJI MEGAT KHAS, TAMAN BANDARAYA UTAMA, 31400 IPOH, PERAK, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. LIEW KING CHUAN |
|
IC / PP No |
: |
5052740 |
|
|
New IC No |
: |
561125-08-5969 |
|
|
Address |
: |
180, LALUAN SUNGAI PARI 16, BUNTONG, 30100 IPOH, PERAK, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. BEANT SINGH JESSY |
|
IC / PP No |
: |
1429595 |
|
|
New IC No |
: |
450830-08-5129 |
|
|
Address |
: |
125, JALAN SUNGAI PARI, 30100 IPOH, PERAK, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
RHB BANK BHD |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
05/06/2008 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
2 |
16/10/2008 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
3 |
20/07/2009 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
4 |
09/08/2010 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
5 |
26/04/2011 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
6 |
24/10/2012 |
N/A |
RHB BANK BHD |
- |
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.
|
SOURCES OF RAW MATERIALS: |
|||
|
Local |
: |
YES |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
INDIA |
|
CLIENTELE |
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
RICE AND COMMODITY PRODUCTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of rice and
commodity products.
The Subject is engaged in the trading of rice, palm oil, fragrance oil and
others.
The Subject however refused to disclose further information on its operation.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
05-5270077 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
5, PERSIARAN KILANG, JELAPANG INDUSTRIAL ESTATE, 30010, IPOH, PERAK |
|
Current Address |
: |
NO. 5, PERSIARAN KILANG, JELAPANG INDUSTRIAL ESTATE, 30100 IPOH, PERAK, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
we contacted Mr Martin the Subject's Consultant and he provided some
information.
He refused to disclose the Subject's number of employees.
|
The Subject is a private exempt company which does not need to file in its accounts with the Registrar of Companies for the information of the public. Therefore, we are not able to comment on the Subject's financial performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
|
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012* |
2013** |
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
- |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
- |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
- |
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012* |
2013** |
|
Agriculture |
0.4 |
2.1 |
5.9 |
0.6 |
2.4 |
|
Palm Oil |
(1.1) |
(3.4) |
10.8 |
(2.8) |
- |
|
Rubber |
(19.8) |
9.9 |
6.1 |
(0.6) |
- |
|
Forestry & Logging |
(5.9) |
(3.3) |
(7.6) |
(2.2) |
- |
|
Fishing |
5.5 |
5.6 |
2.1 |
(0.7) |
- |
|
Other Agriculture |
9.0 |
7.9 |
7.1 |
6.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
413.7 |
508.4 |
634.1 |
- |
- |
|
% of Industry Non-Performing Loans |
1.3 |
2.1 |
3.2 |
- |
- |
|
Mining |
(3.8) |
0.2 |
(5.7) |
1.5 |
2.7 |
|
Oil & Gas |
2.1 |
0.5 |
(1.7) |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
44.2 |
49.7 |
46.5 |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
0.1 |
0.1 |
- |
- |
|
Manufacturing # |
(9.4) |
11.4 |
4.7 |
4.2 |
4.9 |
|
Exported-oriented Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.9) |
1.6 |
- |
|
Rubber Products |
(10.1) |
25.3 |
15.4 |
3.6 |
- |
|
Wood Products |
(24.1) |
20.1 |
(4.9) |
4.6 |
- |
|
Textiles & Apparel |
(19.5) |
(0.4) |
14.8 |
(7.1) |
- |
|
Domestic-oriented Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.2 |
- |
- |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
5.5 |
9.9 |
- |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.4 |
- |
- |
|
Fabricated Metal Products |
(2.5) |
14.9 |
25.2 |
- |
- |
|
Non-metallic Mineral |
(15.5) |
20.2 |
27.1 |
6.6 |
- |
|
Transport Equipment |
(13.5) |
36.5 |
(10.4) |
13.7 |
- |
|
Paper & Paper Products |
(5.0) |
18.7 |
14.8 |
(7.8) |
- |
|
Crude Oil Refineries |
0.2 |
(11.4) |
9.3 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,007.3 |
6,217.5 |
6,537.2 |
- |
- |
|
% of Industry Non-Performing Loans |
18.3 |
23.8 |
25.7 |
- |
- |
|
Construction |
5.8 |
5.1 |
4.4 |
15.5 |
11.2 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,241.8 |
4,038.5 |
3,856.9 |
- |
- |
|
% of Industry Non-Performing Loans |
9.9 |
10.7 |
10.2 |
- |
- |
|
Services |
2.6 |
6.5 |
6.4 |
5.5 |
5.6 |
|
Electric, Gas & Water |
0.4 |
8.5 |
5.6 |
4.8 |
- |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.3 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
6.9 |
- |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.3 |
6.5 |
- |
|
Government Services |
2.0 |
6.7 |
7.6 |
5.6 |
- |
|
Other Services |
4.4 |
4.2 |
5.4 |
5.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,631.3 |
7,384.6 |
6,825.2 |
- |
- |
|
% of Industry Non-Performing Loans |
20.2 |
25.7 |
23.4 |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
INDUSTRY ANALYSIS |
|
MSIC CODE |
|
|
46329 : Wholesale of other foodstuffs |
|
|
INDUSTRY : |
TRADING |
|
According to the Retail Group Malaysia (RGM), the wholesale and retail trade sector forecast to grow to 6% in year 2013. During the first quarter of year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers have been enjoying better sales since the government handed out cash from mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to more than 12 million Malaysians. Bookstores and related retail stores have also started enjoying rising sales since the RM250 1Malaysia Book Voucher was distributed to 1.3 million private and public university students. Besides, since early February 2013, handphone traders and retailers selling smartphone accessories have started to benefit from the RM200 rebate on smartphones for 1.5 million young adults aged between 21 and 30 years with a monthly income of not more than RM3,000. |
|
|
The wholesale and retail trade sector grew 6.1% in the first half of the year 2012 driven by strong domestic consumption and the increasing number of large format stores operating in Malaysia, including 180 foreign hypermarkets, superstores and departmental stores as at end of August 2012. In addition, other indicators such as imports of consumption goods were higher by 15.2%. |
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven by higher consumption which benefited from Government initiatives under the 2012 Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100 assistance for all primary and secondary school students. The performance of the sector will also be supported by ongoing efforts to modernise the retail segment under the ETP. In 2012, 500 retail shops and 50 workshops are targeted to be modernised under the Retail Shop Transformation (TUKAR) and Automotive Workshop Modernisation (ATOM) programmes, respectively. As at end of July 2012, 95 workshops have been modernised, surpassing the yearly target, while 393 retail shops have been modernised. |
|
|
Growth of the sector is anticipated to remain encouraging with ongoing efforts by the Government to increase its contribution to the economy. Major initiatives include increasing the number of large format stores such as hypermarkets, superstores and departmental stores are carried out to boost the economy. |
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic consumption, therefore the wholesale and retail sector plays a crucial role in driving Malaysia's growth over the next decade despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale and retail sector is expected to boost the country's total Gross National Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
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) |
|
IRSB CORPORATION (M) SDN. BHD. |
|
Financial Year End |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
|
TURNOVER |
23,082,323 |
22,276,242 |
|
---------------- |
---------------- |
|
|
Total Turnover |
23,082,323 |
22,276,242 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
794,456 |
564,870 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
794,456 |
564,870 |
|
Taxation |
(253,555) |
(172,098) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
540,901 |
392,772 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
1,285,946 |
893,174 |
|
---------------- |
---------------- |
|
|
As restated |
1,285,946 |
893,174 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,826,847 |
1,285,946 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,826,847 |
1,285,946 |
|
============= |
============= |
|
|
IRSB CORPORATION (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
5,570,756 |
5,805,043 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,570,756 |
5,805,043 |
|
TOTAL CURRENT ASSETS |
2,456,467 |
3,734,349 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
8,027,223 |
9,539,392 |
|
============= |
============= |
|
|
TOTAL CURRENT LIABILITIES |
2,976,168 |
3,813,970 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(519,701) |
(79,621) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
5,051,055 |
5,725,422 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
|
Retained profit/(loss) carried forward |
1,826,847 |
1,285,946 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,826,847 |
1,285,946 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,826,847 |
2,285,946 |
|
TOTAL LONG TERM LIABILITIES |
2,224,208 |
3,439,476 |
|
---------------- |
---------------- |
|
|
5,051,055 |
5,725,422 |
|
|
============= |
============= |
|
|
IRSB CORPORATION (M) SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Net Liquid Assets |
(519,701) |
(79,621) |
|
Net Current Assets/(Liabilities) |
(519,701) |
(79,621) |
|
Net Tangible Assets |
5,051,055 |
5,725,422 |
|
Net Monetary Assets |
(2,743,909) |
(3,519,097) |
|
BALANCE SHEET ITEMS |
||
|
Total Liabilities |
5,200,376 |
7,253,446 |
|
Total Assets |
8,027,223 |
9,539,392 |
|
Net Assets |
5,051,055 |
5,725,422 |
|
Net Assets Backing |
2,826,847 |
2,285,946 |
|
Shareholders' Funds |
2,826,847 |
2,285,946 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
|
Total Reserves |
1,826,847 |
1,285,946 |
|
LIQUIDITY (Times) |
||
|
Current Ratio |
0.83 |
0.98 |
|
SOLVENCY RATIOS (Times) |
||
|
Liabilities Ratio |
1.84 |
3.17 |
|
Assets Backing Ratio |
5.05 |
5.73 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
3.44 |
2.54 |
|
Net Profit Margin |
2.34 |
1.76 |
|
Return On Net Assets |
15.73 |
9.87 |
|
Return On Capital Employed |
15.73 |
9.87 |
|
Return On Shareholders' Funds/Equity |
19.13 |
17.18 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.