MIRA INFORM REPORT

 

 

Report Date :

12.06.2014

 

IDENTIFICATION DETAILS

 

Name :

PONY FEEDMILLS SDN. BHD.

 

 

Registered Office :

6623 & 6627, Jalan Mengkuang, 12200 Butterworth, Pulau Pinang,

 

 

Country :

Malaysia

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

13.09.1988

 

 

Com. Reg. No.:

173899-A

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Wholesaling of animal feeds and other related products

 

 

No. of Employees

10 [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 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

 

 

 

Company name and address

 

 

REGISTRATION NO.

:

173899-A

COMPANY NAME

:

PONY FEEDMILLS SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

13/09/1988

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

6623 & 6627, JALAN MENGKUANG, 12200 BUTTERWORTH, PULAU PINANG, MALAYSIA.

BUSINESS ADDRESS

:

673, BUKIT TENGAH, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.

TEL.NO.

:

04-5073302

FAX.NO.

:

04-5073209

CONTACT PERSON

:

TEH LIANG TEIK ( DIRECTOR )

INDUSTRY CODE

:

46902

PRINCIPAL ACTIVITY

:

WHOLESALING OF ANIMAL FEEDS AND OTHER RELATED PRODUCTS

AUTHORISED CAPITAL

:

MYR 2,000,000.00 DIVIDED INTO
ORDINARY SHARE 2,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO
ORDINARY SHARES 1,000,000 CASH OF MYR 1.00 EACH.

SALES

:

MYR 12,274,368 [2013]

NET WORTH

:

MYR 1,194,322 [2013]

STAFF STRENGTH

:

10 [2014]

BANKER (S)

:

EON BANK BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) wholesaling of animal feeds and other related 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 2,000,000.00

MYR 1,000,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MS. CHIA POH CHOO +

16, JALAN BAGAN SERAI, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA.

490810-02-5010 7563450

255,000.00

25.50

MR. TEH LIANG TEIK +

16, JALAN BAGAN SERAI, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA.

500503-07-5487

255,000.00

25.50

NEO CHING GIAP

3, BEGONIA TERRACE, 2880, 809759, SINGAPORE.

S1822200J

245,000.00

24.50

NEO CHING LAM

3,BEGONIA TERRACE, 2880, 809759, SINGAPORE.

S1392247J

245,000.00

24.50

---------------

------

1,000,000.00

100.00

============

=====

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MS. CHIA POH CHOO

Address

:

16, JALAN BAGAN SERAI, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA.

IC / PP No

:

7563450

New IC No

:

490810-02-5010

Date of Birth

:

10/08/1949

Nationality

:

MALAYSIAN

Date of Appointment

:

13/09/1988

 

DIRECTOR 2

 

Name Of Subject

:

MR. TEH LIANG TEIK

Address

:

16, JALAN BAGAN SERAI, 11600 PULAU PINANG, PULAU PINANG, MALAYSIA.

New IC No

:

500503-07-5487

Date of Birth

:

03/05/1950

Nationality

:

MALAYSIAN

Date of Appointment

:

13/09/1988



MANAGEMENT

 

 

 

1)

Name of Subject

:

TEH LIANG TEIK

Position

:

DIRECTOR

 

AUDITOR


No Auditor found in our databank


 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. LEE PHAY CHIAN

IC / PP No

:

A0877829

New IC No

:

671216-07-5093

Address

:

6623, JALAN MENGKUANG, 12200 BUTTERWORTH, PULAU PINANG, MALAYSIA.

 

2)

Company Secretary

:

MR. LEE PHAY CHEANG

IC / PP No

:

A1512202

New IC No

:

700308-07-5111

Address

:

6623, JALAN MENGKUANG, 12200 BUTTERWORTH, PULAU PINANG, MALAYSIA.

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

EON BANK BHD

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

1

05/03/1990

N/A

BAN HIN LEE BANK BERHAD

MYR 800,000.00

Satisfied

2

05/03/1990

N/A

BAN HIN LEE BERHAD

MYR 800,000.00

Satisfied

3

09/07/1990

N/A

DANAHARTA URUS SDN BHD

MYR 2,150,000.00

Satisfied

4

19/03/1996

N/A

DANAHARTA URUS SDN BHD

MYR 2,700,000.00

Satisfied

5

19/03/1996

N/A

DANAHARTA URUS SDN BHD

MYR 2,700,000.00

Satisfied

6

02/09/2002

N/A

EON BANK BERHAD

MYR 2,700,000.00

Satisfied

7

02/09/2002

N/A

EON BANK BERHAD

MYR 2,700,000.00

Unsatisfied

8

22/07/2010

N/A

EON BANK BHD

MYR 700,000.00

Unsatisfied

 

 

LEGAL CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

DEFAULTER CHECK AGAINST SUBJECT


* We have checked through the Subject in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection since 1990. Information was provided by third party where the debt amount can be disputed. Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed.

No blacklisted record & debt collection case was found in our defaulters' databank.

 

PAYMENT RECORD

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

Import Countries

:

INDIA

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Credit Term

:

N/A

Payment Mode

:

CASH

 

OPERATIONS

 

Goods Traded

:

ANIMAL FEEDS AND OTHER RELATED PRODUCTS

 

Total Number of Employees:

YEAR

2014

2013

GROUP

N/A

N/A

COMPANY

10

10

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) wholesaling of animal feeds and other related products.

The Subject sells animal feed for farm animals.

The Subject mainly sells maze,corn, beans and others.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

04-5073302

Match

:

N/A

Address Provided by Client

:

673, BUKIT TENGAH,14000,BUKIT MERTAJAM,PULAU PINANG.

Current Address

:

673, BUKIT TENGAH, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.

Match

:

YES

Latest Financial Accounts

:

YES

 

Other Investigations


we contacted one of the staff from the Subject and she provided some information.

 

FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Erratic

[

2009 - 2013

]

Profit/(Loss) Before Tax

:

Decreased

[

2009 - 2013

]

Return on Shareholder Funds

:

Unfavourable

[

2.97%

]

Return on Net Assets

:

Unfavourable

[

4.71%

]

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 unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.

Liquidity

Current Ratio

:

Unfavourable

[

0.91 Times

]

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.

Solvency

Liability Ratio

:

Unfavourable

[

3.57 Times

]

The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected.

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's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. The Subject's liabilities 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

 

 

 

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

46902 : Wholesale of animal/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

 

CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1988, the Subject is a Private Limited company, focusing on wholesaling of animal feeds and other related products. With over 2 decades of experience in the business, the Subject has fairly rich experiences in the business and has achieved a certain market share. However, with a weak shareholders' backing, the Subject's capital position is weak. Inadequate capital may be a constraint to the Subject as it limits its ability to expand its business in future.

Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. Being a small company, the Subject's business operation is supported by 10 employees. Overall, we regard that the Subject's management capability is average.

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 Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth. 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.

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. Nonetheless, the Subject should adopt better competitive strategies in order to sustain its business position and to compete with other well established players in the same industry.

In view of the above, we recommend credit be granted to the Subject with close monitoring.

 



PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

PONY FEEDMILLS SDN. BHD.

 

Financial Year End

2013-09-30

2012-09-30

2011-09-30

2010-09-30

2009-09-30

Months

12

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

SUMMARY

SUMMARY

SUMMARY

SUMMARY

SUMMARY

Currency

MYR

MYR

MYR

MYR

MYR

TURNOVER

12,274,368

13,621,843

13,191,818

13,917,012

15,799,352

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Total Turnover

12,274,368

13,621,843

13,191,818

13,917,012

15,799,352

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PROFIT/(LOSS) FROM OPERATIONS

56,582

62,738

48,909

55,643

115,825

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PROFIT/(LOSS) BEFORE TAXATION

56,582

62,738

48,909

55,643

115,825

Taxation

(21,136)

(24,556)

(15,633)

(23,652)

(32,632)

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PROFIT/(LOSS) AFTER TAXATION

35,446

38,182

33,276

31,991

83,193

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RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

158,876

120,694

87,418

55,427

(27,766)

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As restated

158,876

120,694

87,418

55,427

(27,766)

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----------------

----------------

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----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

194,322

158,876

120,694

87,418

55,427

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----------------

----------------

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RETAINED PROFIT/(LOSS) CARRIED FORWARD

194,322

158,876

120,694

87,418

55,427

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BALANCE SHEET

 

 

PONY FEEDMILLS SDN. BHD.

 

ASSETS EMPLOYED:

FIXED ASSETS

1,601,714

1,592,377

1,565,785

1,594,078

1,573,697

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TOTAL LONG TERM ASSETS

1,601,714

1,592,377

1,565,785

1,594,078

1,573,697

TOTAL CURRENT ASSETS

3,854,867

5,025,716

4,937,959

4,070,176

4,915,713

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TOTAL ASSET

5,456,581

6,618,093

6,503,744

5,664,254

6,489,410

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TOTAL CURRENT LIABILITIES

4,255,519

5,450,717

5,372,050

4,560,766

5,428,803

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NET CURRENT ASSETS/(LIABILITIES)

(400,652)

(425,001)

(434,091)

(490,590)

(513,090)

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TOTAL NET ASSETS

1,201,062

1,167,376

1,131,694

1,103,488

1,060,607

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SHARE CAPITAL

Ordinary share capital

1,000,000

1,000,000

1,000,000

1,000,000

1,000,000

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----------------

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TOTAL SHARE CAPITAL

1,000,000

1,000,000

1,000,000

1,000,000

1,000,000

Retained profit/(loss) carried forward

194,322

158,876

120,694

87,418

55,427

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TOTAL RESERVES

194,322

158,876

120,694

87,418

55,427

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SHAREHOLDERS' FUNDS/EQUITY

1,194,322

1,158,876

1,120,694

1,087,418

1,055,427

TOTAL LONG TERM LIABILITIES

6,740

8,500

11,000

16,070

5,180

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1,201,062

1,167,376

1,131,694

1,103,488

1,060,607

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FINANCIAL RATIO

 

PONY FEEDMILLS SDN. BHD.

 

TYPES OF FUNDS

Net Liquid Assets

(400,652)

(425,001)

(434,091)

(490,590)

(513,090)

Net Current Assets/(Liabilities)

(400,652)

(425,001)

(434,091)

(490,590)

(513,090)

Net Tangible Assets

1,201,062

1,167,376

1,131,694

1,103,488

1,060,607

Net Monetary Assets

(407,392)

(433,501)

(445,091)

(506,660)

(518,270)

BALANCE SHEET ITEMS

Total Liabilities

4,262,259

5,459,217

5,383,050

4,576,836

5,433,983

Total Assets

5,456,581

6,618,093

6,503,744

5,664,254

6,489,410

Net Assets

1,201,062

1,167,376

1,131,694

1,103,488

1,060,607

Net Assets Backing

1,194,322

1,158,876

1,120,694

1,087,418

1,055,427

Shareholders' Funds

1,194,322

1,158,876

1,120,694

1,087,418

1,055,427

Total Share Capital

1,000,000

1,000,000

1,000,000

1,000,000

1,000,000

Total Reserves

194,322

158,876

120,694

87,418

55,427

LIQUIDITY (Times)

Current Ratio

0.91

0.92

0.92

0.89

0.91

SOLVENCY RATIOS (Times)

Liabilities Ratio

3.57

4.71

4.80

4.21

5.15

Assets Backing Ratio

1.20

1.17

1.13

1.10

1.06

PERFORMANCE RATIO (%)

Operating Profit Margin

0.46

0.46

0.37

0.40

0.73

Net Profit Margin

0.29

0.28

0.25

0.23

0.53

Return On Net Assets

4.71

5.37

4.32

5.04

10.92

Return On Capital Employed

4.71

5.37

4.32

5.04

10.92

Return On Shareholders' Funds/Equity

2.97

3.29

2.97

2.94

7.8

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.33

UK Pound

1

Rs.99.42

Euro

1

Rs.80.32

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.