|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEM METALLURGICAL SDN. BHD. |
|
|
|
|
Registered Office : |
Room 101, 368, Jalan Pudu, 1st Floor, 55100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.12.1995 |
|
|
|
|
Com. Reg. No.: |
369216-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Supplying Equipment and Foundary Consumable Product & Other
Related Product |
|
|
|
|
No. of Employees : |
10 [2014] |
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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. |
: |
369216-H |
||||
|
COMPANY NAME |
: |
CHEM METALLURGICAL SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
02/12/1995 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
ROOM 101, 368, JALAN PUDU, 1ST FLOOR, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
7, JALAN PENGGAWA U1/75, TAMAN PERINDUSTRIAN BATU 3, 40150 SHAH ALAM, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-55103488 |
||||
|
FAX.NO. |
: |
03-55103277 |
||||
|
EMAIL |
: |
INFO@CHEMTECH.COM.MY |
||||
|
WEB SITE |
: |
WWW.CHEMTECH.COM.MY |
||||
|
CONTACT PERSON |
: |
LIM SOON LAN ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46594 |
||||
|
PRINCIPAL ACTIVITY |
: |
SUPPLYING EQUIPMENT AND FOUNDARY
CONSUMABLE PRODUCT & OTHER RELATED PRODUCT |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 4,591,831 [2012] |
||||
|
NET WORTH |
: |
MYR 2,078,412 [2012] |
||||
|
STAFF STRENGTH |
: |
10 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act, 1965 and the company must file its annual returns, together
with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) supplying
equipment and foundary consumable product & other related product.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
28/06/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
02/12/1995 |
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 |
(%) |
|
MR. YAP ONN WAH + |
2A, JALAN TR9/3, GREEN ACRES, TROPICANA GOLF AND COUNTRY RESORT, 47410
PETALING JAYA, SELANGOR, MALAYSIA. |
560323-08-6239 4934254 |
80,000.00 |
80.00 |
|
MS. LIM SOON LAN + |
2A, JALAN TR9/3, GREEN ACRES, TROPICANA GOLF AND COUNTRY RESORT, 47410
PETALING JAYA, SELANGOR, MALAYSIA. |
540319-08-6000 4579120 |
20,000.00 |
20.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. LIM SOON LAN |
|
Address |
: |
2A, JALAN TR9/3, GREEN ACRES, TROPICANA GOLF AND COUNTRY RESORT, 47410
PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4579120 |
|
New IC No |
: |
540319-08-6000 |
|
Date of Birth |
: |
19/03/1954 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/12/1995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. YAP ONN WAH |
|
Address |
: |
2A, JALAN TR9/3, GREEN ACRES, TROPICANA GOLF AND COUNTRY RESORT, 47410
PETALING JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4934254 |
|
New IC No |
: |
560323-08-6239 |
|
Date of Birth |
: |
23/03/1956 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/12/1995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
LIM SOON LAN |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
EMKAY TANG & CO. |
|
Auditor' Address |
: |
ROOM 102, 368, JALAN PUDU, 1ST FLOOR, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. CHAN MEI CHEE |
|
|
IC / PP No |
: |
A1616083 |
|
|
New IC No |
: |
700723-10-5218 |
|
|
Address |
: |
2, JALAN DAMAI PERDANA 9/2H, BANDAR DAMAI PERDANA, CHERAS, 56000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
25/10/2010 |
LOAN AGREEMENT, DEED OF ASSIGNMENT, POWER OF ATTORNEY & 3RD PARTY
CHARGE |
CIMB BANK BERHAD |
- |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
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 |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
EQUIPMENT AND FOUNDARY CONSUMABLE PRODUCT
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
BRASS ALLOYS SDN BHD
|
|||||
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2011 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
10 |
10 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) supplying equipment
and foundary consumable product & other related product.
The Subject is one of the leading trading company in Malaysia specialized in supplying
equipment and foundary consumable (ferrous casting & non-ferrous casting),
permanent mould diecastings and induction furnace linings.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-55103488 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
7, JALAN PENGGAWA U1/75, TAMAN PERINDUSTRIAN BATU 3, 40150 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Match |
: |
N/A |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 5th June 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.09% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.90% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. The Subject's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
16 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
81 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
74 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. The unfavourable
creditors' ratio could be due to the Subject taking advantage of the credit
granted by its suppliers. However this may affect the goodwill between the
Subject and its suppliers and the Subject may inadvertently have to pay more
for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.12 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.27 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
99.21 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.65 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject was able to service the interest.
The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently
as its profit showed a downward trend. The Subject was in good liquidity position
with its total current liabilities well covered by its total current assets.
With its current net assets, the Subject should be able to repay its short
term obligations. With the favourable interest cover, the Subject could be
able to service all the accrued interest without facing any difficulties. The
Subject as a lowly geared company, will be more secured compared to those
highly geared companies. It has the ability to meet all its long term
obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : STABLE |
||||||
|
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 |
|
|
46594 : Wholesale of industrial machinery, equipment and supplies |
|
|
|
|
|
INDUSTRY : |
MACHINERY |
|
|
|
|
|
|
|
Malaysia is presently the leading manufacturer of automation machinery
and equipment (M&E) for the electrical and electronics (E&E) industry
in the ASEAN region with a total of 22 companies in production. The machinery
and equipment industry has expanded and produce a diverse range of machinery
which give importance to the overall industrial development of the country,
due to its cross cutting linkages with all industrial sectors. |
|
|
|
|
|
Malaysia implemented Industrial Master Plan 3 (IMP3, 2006-2020), which
the machinery and equipment industry has been established as one of the key
areas for growth and development. The implementation focused on the
manufacture of high value-added and high technology machinery and equipment
(M&E). Under this plan, M&E will positioned Malaysia as the regional
production hub for high technology and specialized M&E in the ASEAN
region for 2012. |
|
|
|
|
|
Furthemore for the year 2012, Malaysia is the largest manufacturing
hub of boilers in the Southeast Asia region. The exports are mainly directed
to the neighboring countries such as Indonesia, Philippines, Thailand and
Cambodia. Exports of machinery and equipment registered a double-digit growth
of 12.6% in the frst seven month of 2012 mainly driven by general industrial
machinery and equipment as well as specialised machinery for specific
industries. |
|
|
|
|
|
For enhance the machinery and equipment (M&E), the government has
introduced two major tax incentives for companies investing in the
manufacturing sector where the pioneer status and the investment tax
allowance. The tax incentives would remain to be a competitive industry
within ASEAN. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
|
|
|
|
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 |
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
4,591,831 |
4,998,812 |
4,870,406 |
4,424,620 |
4,915,994 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
4,591,831 |
4,998,812 |
4,870,406 |
4,424,620 |
4,915,994 |
|
Costs of Goods Sold |
(3,205,851) |
(3,570,649) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
1,385,980 |
1,428,163 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
565,718 |
579,993 |
606,891 |
504,336 |
493,414 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
565,718 |
579,993 |
606,891 |
504,336 |
493,414 |
|
Taxation |
(127,445) |
(132,289) |
(141,126) |
(116,447) |
(101,959) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
438,273 |
447,704 |
465,765 |
387,889 |
391,455 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
1,540,139 |
1,092,435 |
876,670 |
698,781 |
307,326 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
1,540,139 |
1,092,435 |
876,670 |
698,781 |
307,326 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,978,412 |
1,540,139 |
1,342,435 |
1,086,670 |
698,781 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
(250,000) |
(210,000) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,978,412 |
1,540,139 |
1,092,435 |
876,670 |
698,781 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
Hire purchase |
5,760 |
5,643 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
5,760 |
5,643 |
- |
- |
- |
|
|
============= |
============= |
|
|
|
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
2,828,769 |
2,888,370 |
1,314,419 |
266,453 |
92,862 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
2,828,769 |
2,888,370 |
1,314,419 |
266,453 |
92,862 |
|
|
|
|
|
|
|
|
Stocks |
205,291 |
160,157 |
- |
- |
- |
|
Trade debtors |
1,014,342 |
1,044,698 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
19,373 |
5,207 |
- |
- |
- |
|
Cash & bank balances |
464,818 |
262,334 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,703,824 |
1,472,396 |
1,916,573 |
1,584,531 |
1,586,550 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
4,532,593 |
4,360,766 |
3,230,992 |
1,850,984 |
1,679,412 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
Trade creditors |
653,820 |
559,620 |
- |
- |
- |
|
Other creditors & accruals |
155,244 |
122,062 |
- |
- |
- |
|
Hire purchase & lease creditors |
40,008 |
40,008 |
- |
- |
- |
|
Short term borrowings/Term loans |
204,600 |
204,600 |
- |
- |
- |
|
Amounts owing to director |
247,402 |
537,802 |
- |
- |
- |
|
Provision for taxation |
38,251 |
48,367 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,339,325 |
1,512,459 |
1,042,899 |
743,714 |
860,534 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
364,499 |
(40,063) |
873,674 |
840,817 |
726,016 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
3,193,268 |
2,848,307 |
2,188,093 |
1,107,270 |
818,878 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
1,978,412 |
1,540,139 |
1,092,435 |
876,670 |
698,781 |
|
Others |
- |
- |
500,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
1,978,412 |
1,540,139 |
1,592,435 |
876,670 |
698,781 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,078,412 |
1,640,139 |
1,692,435 |
976,670 |
798,781 |
|
|
|
|
|
|
|
|
Other long term borrowings |
1,060,068 |
1,113,400 |
- |
- |
- |
|
Hire purchase creditors |
50,810 |
90,818 |
- |
- |
- |
|
Deferred taxation |
3,978 |
3,950 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1,114,856 |
1,208,168 |
495,658 |
130,600 |
20,097 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,193,268 |
2,848,307 |
2,188,093 |
1,107,270 |
818,878 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
464,818 |
262,334 |
- |
- |
- |
|
Net Liquid Funds |
464,818 |
262,334 |
- |
- |
- |
|
Net Liquid Assets |
159,208 |
(200,220) |
873,674 |
840,817 |
726,016 |
|
Net Current Assets/(Liabilities) |
364,499 |
(40,063) |
873,674 |
840,817 |
726,016 |
|
Net Tangible Assets |
3,193,268 |
2,848,307 |
2,188,093 |
1,107,270 |
818,878 |
|
Net Monetary Assets |
(955,648) |
(1,408,388) |
378,016 |
710,217 |
705,919 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
1,355,486 |
1,448,826 |
- |
- |
- |
|
Total Liabilities |
2,454,181 |
2,720,627 |
1,538,557 |
874,314 |
880,631 |
|
Total Assets |
4,532,593 |
4,360,766 |
3,230,992 |
1,850,984 |
1,679,412 |
|
Net Assets |
3,193,268 |
2,848,307 |
2,188,093 |
1,107,270 |
818,878 |
|
Net Assets Backing |
2,078,412 |
1,640,139 |
1,692,435 |
976,670 |
798,781 |
|
Shareholders' Funds |
2,078,412 |
1,640,139 |
1,692,435 |
976,670 |
798,781 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
1,978,412 |
1,540,139 |
1,592,435 |
876,670 |
698,781 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.35 |
0.17 |
- |
- |
- |
|
Liquid Ratio |
1.12 |
0.87 |
- |
- |
- |
|
Current Ratio |
1.27 |
0.97 |
1.84 |
2.13 |
1.84 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
16 |
12 |
- |
- |
- |
|
Debtors Ratio |
81 |
76 |
- |
- |
- |
|
Creditors Ratio |
74 |
57 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.65 |
0.88 |
- |
- |
- |
|
Liabilities Ratio |
1.18 |
1.66 |
0.91 |
0.90 |
1.10 |
|
Times Interest Earned Ratio |
99.21 |
103.78 |
- |
- |
- |
|
Assets Backing Ratio |
31.93 |
28.48 |
21.88 |
11.07 |
8.19 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
12.32 |
11.60 |
12.46 |
11.40 |
10.04 |
|
Net Profit Margin |
9.54 |
8.96 |
9.56 |
8.77 |
7.96 |
|
Return On Net Assets |
17.90 |
20.56 |
27.74 |
45.55 |
60.25 |
|
Return On Capital Employed |
17.67 |
20.28 |
27.74 |
45.55 |
60.25 |
|
Return On Shareholders' Funds/Equity |
21.09 |
27.30 |
27.52 |
39.72 |
49.01 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.54 |
0.54 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.