|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASIA VETERINARY
SDN. BHD. |
|
|
|
|
Registered Office : |
2255, Mukim 14, Jalan Persekutuan, Bukit Minyak, 14000 Bukit Mertajam,
Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.04.1981 |
|
|
|
|
Com. Reg. No.: |
69319-H |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Engaged in trading veterinary products for livestock industry & pet animals. · Subject offers a wide range of products including chemical & pharmaceutical products, animal feed additives and raw materials, antibiotic, supplements & health products as well as premix ·
Subject also trades vitamins, minerals,
flavours and feed additives. |
|
|
|
|
No of Employees : |
30 [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 But Correct |
|
|
|
|
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 strained
government finances, has forced Kuala Lumpur to begin to reduce government
subsidies. The government is also trying to lessen its dependence on state oil
producer Petronas. The oil and gas sector supplies about 35% of government
revenue in 2011. Bank Negera 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 has
raised possible revisions to the special economic and social preferences
accorded to ethnic Malays under the New Economic Policy of 1970, but he has
encountered significant opposition, especially from Malay nationalists and
other vested interests.
|
Source : CIA |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
69319-H |
||||
|
COMPANY NAME |
: |
ASIA VETERINARY SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/04/1981 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
2255, MUKIM 14, JALAN PERSEKUTUAN, BUKIT MINYAK, 14000 BUKIT MERTAJAM,
PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
2255, MUKIM 14, JALAN PERSEKUTUAN, BUKIT MINYAK, 14000 BUKIT MERTAJAM,
PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-5028888 |
||||
|
FAX.NO. |
: |
04-5021111 |
||||
|
CONTACT PERSON |
: |
ONG HENG LEE ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
47738 |
||||
|
PRINCIPAL ACTIVITY |
: |
·
Engaged
in trading veterinary products for livestock industry & pet animals. ·
Subject
offers a wide range of products including chemical & pharmaceutical
products, animal feed additives and raw materials, antibiotic, supplements
& health products as well as premix · Subject also trades vitamins, minerals, flavours and feed additives. |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 18,655,200.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 128,168,417 [2012] |
||||
|
NET WORTH |
: |
MYR 43,472,908 [2012] |
||||
|
STAFF STRENGTH |
: |
30 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading in veterinary products for livestock industry & pet animals.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/06/2013 |
MYR 25,000,000.00 |
MYR 18,655,200.00 |
|
30/06/2003 |
MYR 10,000,000.00 |
MYR 9,600,000.00 |
|
12/06/2003 |
MYR 10,000,000.00 |
MYR 7,200,000.00 |
|
14/12/2001 |
MYR 10,000,000.00 |
MYR 5,200,000.00 |
|
31/12/1998 |
MYR 5,000,000.00 |
MYR 4,200,000.00 |
|
31/12/1991 |
MYR 1,000,000.00 |
MYR 700,000.00 |
|
31/01/1989 |
MYR 500,000.00 |
MYR 500,000.00 |
|
10/12/1987 |
MYR 500,000.00 |
MYR 200,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. ONG HENG LEE + |
2657, JALAN MEGAT HARUN, TAMAN KEENWAY, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
540809-07-5339 4669329 |
6,638,904.00 |
35.59 |
|
MR. ONG CHIN KOOI @ ONG CHIN SIONG + |
18, JALAN PERSIARAN INDAH, TAMAN BUKIT INDAH, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
360218-07-5187 0309046 |
4,238,904.00 |
22.72 |
|
MS. ONG SOO HOON + |
29G, LORONG KANTAN SATU, TAMAN JAYA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
641111-07-5532 7477803 |
3,450,936.00 |
18.50 |
|
MR. ONG JING HAUR |
2657, JALAN MEGAT HARUN, TAMAN KEENWAYS, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
810419-07-5373 |
1,875,000.00 |
10.05 |
|
MR. ONG WEE LAM |
29-G, LORONG KANTAN SATU, TAMAN JAYA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
660318-07-5787 A1255476 |
787,968.00 |
4.22 |
|
EST. OF ONG EWE SAN |
4043, JALAN SEKOLAH, KAMPUNG JURU, SIMPANG AMPAT, PULAU PINANG, 14150, MALAYSIA. |
5229066 |
787,968.00 |
4.22 |
|
EST. OF ONG SIEW KIM (DECEASED) |
348 JURU VILLAGE, BUKIT MERTAJAM, 14100 SEBERANG PERAI TENGAH, PULAU PINANG, MALAYSIA. |
3790617 |
437,760.00 |
2.35 |
|
MR. ONG AH TOO |
249, JURU VILLAGE, BUKIT MERTAJAM, 14100 SEBERANG PERAI TENGAH, PULAU PINANG, MALAYSIA. |
470303-07-5015 3790592 |
437,760.00 |
2.35 |
|
--------------- |
------ |
|||
|
18,655,200.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
423369H |
MALAYSIA |
ASAS WANGSA SDN. BHD. |
100.00 |
29/03/2013 |
|
224440X |
MALAYSIA |
TOTAL MERGE DEVELOPMENT SDN. BHD. |
51.46 |
29/03/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
MS. ONG SOO HOON |
|
Address |
: |
29G, LORONG KANTAN SATU, TAMAN JAYA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
7477803 |
|
New IC No |
: |
641111-07-5532 |
|
Date of Birth |
: |
11/11/1964 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/05/2003 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. ONG CHIN KOOI @ ONG CHIN SIONG |
|
Address |
: |
18, JALAN PERSIARAN INDAH, TAMAN BUKIT INDAH, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
0309046 |
|
New IC No |
: |
360218-07-5187 |
|
Date of Birth |
: |
18/02/1936 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/04/1981 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. ONG HENG LEE |
|
Address |
: |
2657, JALAN MEGAT HARUN, TAMAN KEENWAY, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
4669329 |
|
New IC No |
: |
540809-07-5339 |
|
Date of Birth |
: |
09/08/1954 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/04/1981 |
|
1) |
Name of Subject |
: |
ONG HENG LEE |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
CHI-LLTC |
|
Auditor' Address |
: |
29B, LORONG P.S.1, BANDAR PERDA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
1) |
Company Secretary |
: |
FOO SIEW EAN |
|
IC / PP No |
: |
3772807 |
|
|
New IC No |
: |
500220-08-6346 |
|
|
Address |
: |
16, TINGKAT BUKIT KECIL 2, TAMAN SRI NIBONG, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
Banking relations are maintained
principally with :
|
1) |
Name |
: |
AMBANK (M) BHD |
|
2) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
3) |
Name |
: |
RHB BANK BHD |
|
4) |
Name |
: |
STANDARD CHARTERED BANK MALAYSIA BHD |
|
5) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
6) |
Name |
: |
THE CHARTERED BANK |
|
7) |
Name |
: |
HONG LEONG BANK BHD |
|
8) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
9) |
Name |
: |
UNITED MALAYAN BANKING CORPORATION BHD |
|
10) |
Name |
: |
STANDARD CHARTERED BANK |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
01/07/1983 |
N/A |
THE CHARTERED BANK |
MYR 250,000.00 |
Satisfied |
|
3 |
01/07/1983 |
N/A |
STANDARD CHARTERED BANK |
MYR 300,000.00 |
Satisfied |
|
5U1 |
01/07/1983 |
N/A |
STANDARD CHARTERED BANK |
MYR 200,000.00 |
Satisfied |
|
2 |
17/02/1984 |
N/A |
UNITED MALAYAN BANKING CORP |
MYR 140,000.00 |
Satisfied |
|
4 |
19/12/1985 |
N/A |
UNITED MALAYAN BANKING CORP |
MYR 140,000.00 |
Satisfied |
|
5 |
01/07/1986 |
N/A |
STANDARD CHARTERED BANK |
MYR 50,000.00 |
Satisfied |
|
6 |
27/01/1989 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,295,000.00 |
Satisfied |
|
7 |
05/10/1990 |
N/A |
UNITED MALAYAN ABNKING CORPBHD |
MYR 300,000.00 |
Satisfied |
|
8 |
05/10/1990 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 300,000.00 |
Satisfied |
|
9 |
05/10/1990 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 950,000.00 |
Satisfied |
|
10 |
05/10/1990 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 950,000.00 |
Satisfied |
|
11 |
26/02/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BHD |
MYR 370,000.00 |
Satisfied |
|
12 |
26/02/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BHD |
MYR 370,000.00 |
Satisfied |
|
13 |
30/07/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BHD |
MYR 515,000.00 |
Satisfied |
|
14 |
30/07/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BHD |
MYR 515,000.00 |
Satisfied |
|
15 |
30/07/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BHD |
MYR 515,000.00 |
Satisfied |
|
17 |
12/03/1992 |
N/A |
UMBC BHD |
MYR 515,000.00 |
Satisfied |
|
18 |
12/03/1992 |
N/A |
UMBC BHD |
MYR 950,000.00 |
Satisfied |
|
19 |
12/03/1992 |
N/A |
UMBC |
MYR 300,000.00 |
Satisfied |
|
20 |
12/03/1992 |
N/A |
UMBC BHD |
MYR 370,000.00 |
Satisfied |
|
16 |
16/03/1992 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 300,000.00 |
Satisfied |
|
21 |
26/09/1994 |
N/A |
HONG LEONG BANK BHD |
MYR 320,000.00 |
Satisfied |
|
22 |
26/09/1994 |
N/A |
HONG LEONG BANK BHD |
MYR 8,430,000.00 |
Satisfied |
|
23 |
26/09/1994 |
N/A |
HONG LEONG BANK BHD |
MYR 8,750,000.00 |
Satisfied |
|
24 |
26/09/1994 |
N/A |
HOND LEONG BANK BHD |
MYR 8,750,000.00 |
Satisfied |
|
25 |
12/08/1995 |
N/A |
HONG LEONG BANK BHD |
MYR 1,800,000.00 |
Satisfied |
|
26 |
12/08/1995 |
N/A |
HONG LEONG BANK BHD |
MYR 1,800,000.00 |
Satisfied |
|
27 |
25/08/1997 |
N/A |
HONG LEONG BANK BHD |
MYR 1,500,000.00 |
Satisfied |
|
28 |
25/08/1997 |
N/A |
HONG LEONG BANK BHD |
MYR 1,500,000.00 |
Satisfied |
|
29 |
25/08/1997 |
N/A |
HONG LEONG BANK BHD |
MYR 1,500,000.00 |
Satisfied |
|
30 |
25/08/1997 |
N/A |
HONG LEONG BANK BHD |
MYR 1,500,000.00 |
Satisfied |
|
31 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
32 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
33 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
34 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
35 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
36 |
01/08/2000 |
N/A |
HONG LEONG BANK BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
37 |
11/03/2002 |
N/A |
HONG LEONG BANK BERHAD |
MYR 16,900,000.00 |
Satisfied |
|
38 |
11/03/2002 |
N/A |
HONG LEONG BANK BERHAD |
MYR 10,200,000.00 |
Satisfied |
|
39 |
11/03/2002 |
N/A |
HONG LEONG BANK BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
40 |
05/05/2005 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
- |
Satisfied |
|
41 |
05/07/2005 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
42 |
05/07/2005 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
43 |
05/07/2005 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
44 |
12/08/2005 |
OPEN CHARGE |
AMBANK (M) BERHAD |
MYR 19,000,000.00 |
Unsatisfied |
|
45 |
26/01/2007 |
FACILITIES
AGREEMENT |
RHB BANK BERHAD |
- |
Unsatisfied |
|
46 |
26/01/2007 |
FACILITIES
AGREEMENT & FIRST PARTY OPEN ALL MONIES CHARGE |
RHB BANK BERHAD |
- |
Unsatisfied |
|
47 |
26/01/2007 |
FACILITIES
AGREEMENT & FIRST PARTY OPEN ALL MONIES CHARGE |
RHB BANK BERHAD |
- |
Unsatisfied |
|
48 |
26/01/2007 |
FACILITIES AGREEMENT
& FIRST PARTY OPEN ALL MONIES CHARGE |
RHB BANK BERHAD |
- |
Unsatisfied |
|
49 |
28/07/2008 |
MEMORANDUM OF
LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
52 |
21/08/2008 |
MEMORANDUM OF
CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
50 |
11/11/2008 |
LEGAL CHARGE |
OCBC BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
51 |
11/11/2008 |
LEGAL CHARGE |
OCBC BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
53 |
28/12/2012 |
NEGATIVE PLEDGE |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
57 |
26/02/2013 |
FIRST PARTY
FIRST LEGAL CHARGE UNDER THE NATIONAL LAND CODE |
AMBANK (M) BERHAD |
MYR 5,000,000.00 |
Unsatisfied |
|
54 |
08/03/2013 |
SECURITY
AGREEMENT OVER BANK ACCOUNT |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
58 |
30/07/2013 |
FIRST PARTY
SECOND LEGAL CHARGE |
AMBANK (M) BERHAD |
MYR 1,500,000,000.00 |
Unsatisfied |
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection
case was found in our defaulters' databank.
|
SOURCES OF RAW MATERIALS: |
|||
|
Local |
: |
YES |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
CHINA,JAPAN,UNITED STATES,GERMANY,BELGIUM,ITALY |
|
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 |
: |
90% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
10% |
|
Export Market |
: |
INDONESIA |
|||
|
Credit Term |
: |
30 - 120 DAYS |
|||
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
POULTRY FARMS,VETERINARY CLINIC |
|||
|
Goods Traded |
: |
ANIMAL PRODUCTS AND FOODS |
|||||
|
Competitor(s) |
: |
DREAM-MAKERS SDN BHD |
|||||
|
Member(s) / Affiliate(s) |
: |
CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
|||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
30 |
30 |
30 |
30 |
30 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is
principally engaged in the (as a / as an) trading in veterinary products for
livestock industry & pet animals.
The Subject offers a wide range of products including chemical & pharmaceutical
products, animal feed additives and raw materials, antibiotic, supplements
& health products, premix and others.
The Subject normally provides its animal raw materials, nutritional and
medication for distribution to local and overseas livestock industry.
Some of the Subject's products
namely:-
* DL-Methionine.
* L-Lysine.
* Choline Chloride 60%.
* Chlorte tracycline 15% / FG (Calcium Complex).
* Bylorte tracycline.
* Eva-Sol-Plus.
* Avazin-Plus.
Besides that the Subject also trades vitamins, minerals, flavours and feed
additives.
We were informed that the Subject imports its products on weekly basis about 30
to 40 containers per month.
Besides that the Subject repacks its products into bags, cottons, drums and as
per customer's requirements.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
045028888 |
|
Current Telephone Number |
: |
04-5028888 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
2722, MK 15,
Jalan Persekutuan, Bukit Menayak,
14000 Bukit Penang, Malaysia |
|
Current Address |
: |
2255, MUKIM 14, JALAN PERSEKUTUAN, BUKIT
MINYAK, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and she provided some information.
The address provided is the former address of the subject.
The Subject had shifted from the address provided.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
3.31% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
53.63% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.27% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.42% |
] |
|
|
The lower turnover could be due to the unfavourable market
conditions.The Subject's profit fell sharply because of the high operating costs
incurred. The unfavourable return on shareholders' funds could indicate that
the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
54 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. 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 |
[ |
0.58 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.96 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 |
[ |
1.29 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.21 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. 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 : |
||||||
|
The Subject's performance deteriorated over the years with lower turnover
and profit. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. If there is a
fall in the Subject's profit or any increase in interest rate, the Subject
may not be able to generate sufficient cash-flow to service its interest. 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 |
|||||
|
# Based On Manufacturing Production Index |
|||||
|
MSIC CODE |
|
|
47738 : Retail sale of aquarium fishes, pet animals and pet food |
|
|
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 |
|
|
Incorporated in 1981, the Subject is a Private
Limited company, focusing on trading in veterinary products for livestock
industry and pet animals. The Subject has been in business for over 3
decades. It has built up a strong clientele base and good reputation will
enable the Subject to further enhance its business in the near term. The
Subject is expected to enjoy a stable market shares. The Subject is a large
entity with strong capital position. We are confident with the Subject's
business and its future growth prospect. Apart from supplying its products to the
local market, the Subject also exports to overseas countries. Its ability to
penetrate into the global market has benefited the Subject in terms of higher
profitability and well diversified its business risk. Hence, better growth
prospect can be expected. The Subject's business operation is supported by 30
employees. Overall, we regard that the Subject's management capability is
average. This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject. The Subject's business performance showed
a reverse trend as both its turnover and pre-tax profit have decreased
compared to the previous year. The Subject has generated an unfavourable
return on shareholders' funds indicating that the management was inefficient
in utilising its funds to generate return. Due to its weak liquidity
position, the Subject may face working capital deficiency in meeting its
short term financial obligations if no fresh capital are injected into the
Subject. The high gearing ratio clearly implied that the Subject was
supported by more debt than equity. Nevertheless, given a positive net worth
standing at MYR 43,472,908, the Subject should be able to maintain its
business in the near terms. The Subject's supplier are from both the
local and overseas countries. This will eliminates the risk of dependency on
deliveries from a number of key suppliers and insufficient quantities of its
raw materials. Overall the Subject has a good control over its resources. Overall, the Subject's payment habit is
average. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
ASIA
VETERINARY SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
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 |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
128,168,417 |
132,554,362 |
119,353,275 |
105,949,398 |
106,318,923 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
128,168,417 |
132,554,362 |
119,353,275 |
105,949,398 |
106,318,923 |
|
Costs of Goods Sold |
- |
- |
(111,010,727) |
(97,870,396) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
8,342,548 |
8,079,002 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
754,938 |
1,628,248 |
2,042,030 |
1,334,554 |
2,660,994 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
754,938 |
1,628,248 |
2,042,030 |
1,334,554 |
2,660,994 |
|
Taxation |
(646,057) |
(629,791) |
(1,036,857) |
(562,841) |
(958,824) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
108,881 |
998,457 |
1,005,173 |
771,713 |
1,702,170 |
|
Minority interests |
8,639 |
15,540 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
117,520 |
1,013,997 |
1,005,173 |
771,713 |
1,702,170 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
117,520 |
1,013,997 |
1,005,173 |
771,713 |
1,702,170 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
7,154,275 |
6,016,424 |
5,011,251 |
4,239,538 |
2,537,368 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
7,154,275 |
6,016,424 |
5,011,251 |
4,239,538 |
2,537,368 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
7,271,795 |
7,030,421 |
6,016,424 |
5,011,251 |
4,239,538 |
|
TRANSFER TO RESERVES - General |
- |
123,854 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
7,271,795 |
7,154,275 |
6,016,424 |
5,011,251 |
4,239,538 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
84,638 |
58,979 |
45,093 |
24,233 |
- |
|
Bankers' acceptance |
1,857,711 |
1,900,130 |
1,493,043 |
1,326,873 |
- |
|
Term loan / Borrowing |
504,411 |
604,001 |
635,573 |
635,720 |
- |
|
Trust receipts |
131,391 |
110,866 |
87,841 |
102,117 |
- |
|
Others |
548 |
4,961 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,578,699 |
2,678,937 |
2,261,550 |
2,088,943 |
- |
|
|
============= |
============= |
============= |
============= |
|
ASIA
VETERINARY SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
46,149,798 |
42,219,294 |
42,460,258 |
32,318,653 |
33,023,464 |
|
Investments |
10,879 |
102,340 |
102,340 |
102,340 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
10,879 |
102,340 |
102,340 |
102,340 |
81,350 |
|
Goodwill on consolidation |
8,345,097 |
4,294,084 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
8,345,097 |
4,294,084 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
54,505,774 |
46,615,718 |
42,562,598 |
32,420,993 |
33,104,814 |
|
Stocks |
22,873,505 |
21,503,284 |
17,483,707 |
18,503,568 |
- |
|
Trade debtors |
18,803,325 |
20,551,652 |
16,027,065 |
17,476,336 |
- |
|
Other debtors, deposits & prepayments |
1,703,788 |
2,753,054 |
485,321 |
3,194,979 |
- |
|
Short term deposits |
4,062,376 |
3,945,130 |
3,432,728 |
2,549,718 |
- |
|
Trading account securities |
- |
- |
397,022 |
397,022 |
- |
|
Amount due from related companies |
5,232 |
3,002,909 |
7,320,239 |
3,069,135 |
- |
|
Amount due from director |
4,435,186 |
4,651,576 |
33,537 |
941,601 |
- |
|
Cash & bank balances |
6,352,090 |
8,974,777 |
2,153,822 |
1,060,044 |
- |
|
Others |
- |
- |
- |
101,222 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
58,235,502 |
65,382,382 |
47,333,441 |
47,293,625 |
38,837,055 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
112,741,276 |
111,998,100 |
89,896,039 |
79,714,618 |
71,941,869 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
11,162,060 |
10,525,708 |
4,476,053 |
3,040,208 |
- |
|
Other creditors & accruals |
1,052,777 |
1,319,923 |
704,093 |
4,390,641 |
- |
|
Bank overdraft |
179,070 |
233,845 |
- |
26,996 |
- |
|
Short term borrowings/Term loans |
1,359,035 |
1,475,005 |
1,645,406 |
1,596,735 |
- |
|
Other borrowings |
8,189,941 |
2,534,386 |
5,142,092 |
4,158,213 |
- |
|
Bill & acceptances payable |
38,172,000 |
46,368,125 |
39,276,000 |
39,020,000 |
- |
|
Amounts owing to director |
481,623 |
210,072 |
- |
- |
- |
|
Provision for taxation |
257,362 |
288,635 |
329,335 |
- |
- |
|
Other liabilities |
- |
- |
- |
1,968,020 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
60,853,868 |
62,955,699 |
51,572,979 |
54,200,813 |
48,715,609 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(2,618,366) |
2,426,683 |
(4,239,538) |
(6,907,188) |
(9,878,554) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
51,887,408 |
49,042,401 |
38,323,060 |
25,513,805 |
23,226,260 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
18,655,200 |
18,655,200 |
11,155,200 |
11,155,200 |
11,155,200 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
18,655,200 |
18,655,200 |
11,155,200 |
11,155,200 |
11,155,200 |
|
Revaluation reserve |
13,864,176 |
10,841,729 |
10,965,583 |
3,924 |
3,924 |
|
Retained profit/(loss) carried forward |
7,271,795 |
7,154,275 |
6,016,424 |
5,011,251 |
4,239,538 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
21,135,971 |
17,996,004 |
16,982,007 |
5,015,175 |
4,243,462 |
|
MINORITY INTEREST |
3,681,737 |
3,690,376 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
43,472,908 |
40,341,580 |
28,137,207 |
16,170,375 |
15,394,738 |
|
Long term loans |
4,731,668 |
6,030,432 |
7,415,579 |
9,012,830 |
- |
|
Deferred taxation |
3,682,832 |
2,670,389 |
2,770,274 |
330,600 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
8,414,500 |
8,700,821 |
10,185,853 |
9,343,430 |
7,827,598 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
51,887,408 |
49,042,401 |
38,323,060 |
25,513,805 |
23,226,260 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
ASIA
VETERINARY SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
10,414,466 |
12,919,907 |
5,586,550 |
3,609,762 |
- |
|
Net Liquid Funds |
(27,936,604) |
(33,682,063) |
(33,689,450) |
(35,437,234) |
- |
|
Net Liquid Assets |
(25,491,871) |
(19,076,601) |
(21,723,245) |
(25,410,756) |
(9,878,554) |
|
Net Current Assets/(Liabilities) |
(2,618,366) |
2,426,683 |
(4,239,538) |
(6,907,188) |
(9,878,554) |
|
Net Tangible Assets |
43,542,311 |
44,748,317 |
38,323,060 |
25,513,805 |
23,226,260 |
|
Net Monetary Assets |
(33,906,371) |
(27,777,422) |
(31,909,098) |
(34,754,186) |
(17,706,152) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
52,631,714 |
56,641,793 |
53,479,077 |
53,814,774 |
- |
|
Total Liabilities |
69,268,368 |
71,656,520 |
61,758,832 |
63,544,243 |
56,543,207 |
|
Total Assets |
112,741,276 |
111,998,100 |
89,896,039 |
79,714,618 |
71,941,869 |
|
Net Assets |
51,887,408 |
49,042,401 |
38,323,060 |
25,513,805 |
23,226,260 |
|
Net Assets Backing |
43,472,908 |
40,341,580 |
28,137,207 |
16,170,375 |
15,398,662 |
|
Shareholders' Funds |
43,472,908 |
40,341,580 |
28,137,207 |
16,170,375 |
15,398,662 |
|
Total Share Capital |
18,655,200 |
18,655,200 |
11,155,200 |
11,155,200 |
11,155,200 |
|
Total Reserves |
21,135,971 |
17,996,004 |
16,982,007 |
5,015,175 |
4,243,462 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.17 |
0.21 |
0.11 |
0.07 |
- |
|
Liquid Ratio |
0.58 |
0.70 |
0.58 |
0.53 |
- |
|
Current Ratio |
0.96 |
1.04 |
0.92 |
0.87 |
0.80 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
65 |
59 |
53 |
64 |
- |
|
Debtors Ratio |
54 |
57 |
49 |
60 |
- |
|
Creditors Ratio |
32 |
29 |
15 |
11 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.21 |
1.40 |
1.90 |
3.33 |
- |
|
Liabilities Ratio |
1.59 |
1.78 |
2.19 |
3.93 |
3.67 |
|
Times Interest Earned Ratio |
1.29 |
1.61 |
1.90 |
1.64 |
- |
|
Assets Backing Ratio |
2.33 |
2.40 |
3.44 |
2.29 |
2.08 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.59 |
1.23 |
1.71 |
1.26 |
2.50 |
|
Net Profit Margin |
0.09 |
0.76 |
0.84 |
0.73 |
1.60 |
|
Return On Net Assets |
6.42 |
8.78 |
11.23 |
13.42 |
11.46 |
|
Return On Capital Employed |
5.20 |
7.52 |
11.23 |
13.40 |
11.46 |
|
Return On Shareholders' Funds/Equity |
0.27 |
2.51 |
3.57 |
4.77 |
11.06 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
UK Pound |
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.