|
Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PASTRY PRO SDN. BHD. |
|
|
|
|
Registered Office : |
Menara Hap Seng, 1 & 3, Jalan P. Ramlee, 10th Floor, 50250 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.08.1993 |
|
|
|
|
Com. Reg. No.: |
273494-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Confectionery Products |
|
|
|
|
No. of Employees : |
55 [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. |
: |
273494-K |
||||
|
COMPANY NAME |
: |
PASTRY PRO SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
18/08/1993 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
MENARA HAP SENG, 1 & 3, JALAN P. RAMLEE, 10TH FLOOR, 50250 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
8 JALAN 3/37A, INDUSTRIAL AREA TAMAN BUKIT MALURI, KEPONG, 52100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-62721155/62723199 |
||||
|
FAX.NO. |
: |
03-62721158 |
||||
|
WEB SITE |
: |
WWW.PASTRYPRO.COM.MY |
||||
|
CONTACT PERSON |
: |
ONG HOCK LAI ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46323 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CONFECTIONERY PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 25,752,128 [2012] |
||||
|
NET WORTH |
: |
MYR 5,975,217 [2012] |
||||
|
STAFF STRENGTH |
: |
55 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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) trading of
confectionery products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is GROWTH CONCEPT SDN.
BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 500,000.00 |
|
08/09/1994 |
MYR 500,000.00 |
MYR 400,000.00 |
|
04/02/1994 |
MYR 500,000.00 |
MYR 100,002.00 |
|
18/08/1993 |
MYR 500,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GROWTH CONCEPT SDN. BHD. |
MENARA HAP SENG, 1 & 3, JALAN P.RAMLEE, 10TH FLOOR, 50250 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
95767D |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. LEOW POY TWEE |
|
Address |
: |
52, JALAN JEMERLANG KUNING, SIERRAMAS, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
4208521 |
|
New IC No |
: |
520119-04-5038 |
|
Date of Birth |
: |
19/01/1952 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/08/1993 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. ONG HOCK LAI |
|
Address |
: |
52, JALAN JEMERLANG KUNING, SEIRRAMAS, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
1576243 |
|
New IC No |
: |
480821-01-5177 |
|
Date of Birth |
: |
21/08/1948 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/06/2001 |
|
1) |
Name of Subject |
: |
ONG HOCK LAI |
|
Position |
: |
MANAGING DIRECTOR |
|
|
Auditor |
: |
CROWE HORWATH |
|
Auditor' Address |
: |
16, TOWER C, MEGAN AVENUE II, 12, JALAN YAP KWAN SENG, 50450 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. SOO SHIOW FANG |
|
IC / PP No |
: |
A3271329 |
|
|
New IC No |
: |
751106-10-5538 |
|
|
Address |
: |
23, JALAN PU 8/5A, TAMAN PUCHONG UTAMA, 47100 PUCHONG, SELANGOR,
MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
21/03/1996 |
MEMORANDUM OF DEPOSIT OF FIXED DEPOSIT RECEIPT |
MAYBANK BERHAD |
MYR 200,000.00 |
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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
CONFECTIONERY PRODUCTS |
|||||
|
Competitor(s) |
: |
HUP SENG HOON YONG BROTHERS SDN BHD |
|||||
|
Member(s) / Affiliate(s) |
: |
MALAYSIA FOOD & BEVERAGE INDUSTRY |
|||||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2012 |
2011 |
2010 |
2009 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
55 |
50 |
50 |
50 |
50 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
confectionery products.
The Subject is trading of confectionaries foods and decorative items.
The Subject supplies its products to the bakeries shops,hotels and
estaurants.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0362721155 |
|
Current Telephone Number |
: |
03-62721155/62723199 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
8 JALAN 3/37A, INDUSTRIAL AREA TAMAN BUKIT MALURI, KEPONG,52100,KUALA
LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
8 JALAN 3/37A, INDUSTRIAL AREA TAMAN BUKIT MALURI, KEPONG, 52100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 11th 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 |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
54.00% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
45.79% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.The Subject's management have been efficient in
controlling its operating costs. Generally the Subject was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the Subject's management was efficient in utilising the assets to
generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
86 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
[ |
1.55 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.06 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 |
[ |
19.54 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.62 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 : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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 : STRONG |
||||||
|
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 |
|
|
46323 : Wholesale of confectionary |
|
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
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 |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
25,752,128 |
25,896,463 |
22,842,881 |
19,343,791 |
23,786,962 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
25,752,128 |
25,896,463 |
22,842,881 |
19,343,791 |
23,786,962 |
|
Costs of Goods Sold |
(15,819,240) |
(16,224,437) |
(14,291,677) |
(12,989,148) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
9,932,888 |
9,672,026 |
8,551,204 |
6,354,643 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
4,073,426 |
3,848,046 |
3,213,788 |
1,229,361 |
2,252,866 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
4,073,426 |
3,848,046 |
3,213,788 |
1,229,361 |
2,252,866 |
|
Taxation |
(846,641) |
(997,769) |
(816,257) |
(320,613) |
(641,911) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,226,785 |
2,850,277 |
2,397,531 |
908,748 |
1,610,955 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
9,680,921 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
9,680,921 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
8,275,217 |
7,548,432 |
6,698,155 |
4,700,624 |
11,291,876 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(2,800,000) |
(2,500,000) |
(2,000,000) |
(400,000) |
(7,500,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,475,217 |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
- |
43,743 |
41,134 |
53,833 |
|
Bankers' acceptance |
- |
- |
5,445 |
3,000 |
- |
|
Hire purchase |
- |
- |
458 |
5,500 |
5,500 |
|
Term loan / Borrowing |
- |
- |
184,874 |
160,325 |
135,520 |
|
Others |
219,662 |
236,027 |
- |
- |
6,796 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
219,662 |
236,027 |
234,520 |
209,959 |
201,649 |
|
|
============= |
============= |
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,117,284 |
739,897 |
859,573 |
1,052,599 |
1,437,455 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,117,284 |
739,897 |
859,573 |
1,052,599 |
1,437,455 |
|
Stocks |
6,039,918 |
4,548,016 |
4,623,668 |
3,743,394 |
4,799,555 |
|
Trade debtors |
4,988,213 |
6,099,601 |
5,583,808 |
5,125,328 |
4,471,319 |
|
Other debtors, deposits & prepayments |
171,128 |
486,386 |
543,560 |
599,444 |
549,618 |
|
Amount due from holding company |
13,099 |
- |
- |
- |
- |
|
Amount due from related companies |
735,958 |
584,446 |
295,604 |
642,832 |
767,201 |
|
Cash & bank balances |
324,448 |
30,883 |
109,755 |
55,559 |
10,890 |
|
Others |
- |
- |
- |
9,159 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
12,272,764 |
11,749,332 |
11,156,395 |
10,175,716 |
10,598,583 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
13,390,048 |
12,489,229 |
12,015,968 |
11,228,315 |
12,036,038 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,069,286 |
1,912,726 |
1,812,384 |
1,212,433 |
1,804,365 |
|
Other creditors & accruals |
480,629 |
373,109 |
322,194 |
117,762 |
136,091 |
|
Hire purchase & lease creditors |
- |
- |
- |
6,092 |
73,340 |
|
Bank overdraft |
- |
314,399 |
606,385 |
1,256,583 |
915,941 |
|
Short term borrowings/Term loans |
300,965 |
286,744 |
215,520 |
234,776 |
185,551 |
|
Bill & acceptances payable |
- |
- |
293,000 |
116,000 |
709,000 |
|
Amounts owing to holding company |
- |
86,067 |
111,871 |
107,488 |
255,076 |
|
Provision for taxation |
163,600 |
291,000 |
246,000 |
- |
43,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,014,480 |
3,264,045 |
3,607,354 |
3,051,134 |
4,122,364 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
8,258,284 |
8,485,287 |
7,549,041 |
7,124,582 |
6,476,219 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
9,375,568 |
9,225,184 |
8,408,614 |
8,177,181 |
7,913,674 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Retained profit/(loss) carried forward |
5,475,217 |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,475,217 |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
5,975,217 |
5,548,432 |
5,198,155 |
4,800,624 |
4,291,876 |
|
Long term loans |
3,400,351 |
3,676,752 |
3,210,459 |
3,376,557 |
3,615,706 |
|
Hire purchase creditors |
- |
- |
- |
- |
6,092 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
3,400,351 |
3,676,752 |
3,210,459 |
3,376,557 |
3,621,798 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,375,568 |
9,225,184 |
8,408,614 |
8,177,181 |
7,913,674 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
324,448 |
30,883 |
109,755 |
55,559 |
10,890 |
|
Net Liquid Funds |
324,448 |
(283,516) |
(789,630) |
(1,317,024) |
(1,614,051) |
|
Net Liquid Assets |
2,218,366 |
3,937,271 |
2,925,373 |
3,381,188 |
1,676,664 |
|
Net Current Assets/(Liabilities) |
8,258,284 |
8,485,287 |
7,549,041 |
7,124,582 |
6,476,219 |
|
Net Tangible Assets |
9,375,568 |
9,225,184 |
8,408,614 |
8,177,181 |
7,913,674 |
|
Net Monetary Assets |
(1,181,985) |
260,519 |
(285,086) |
4,631 |
(1,945,134) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
3,701,316 |
4,277,895 |
4,325,364 |
4,990,008 |
5,505,630 |
|
Total Liabilities |
7,414,831 |
6,940,797 |
6,817,813 |
6,427,691 |
7,744,162 |
|
Total Assets |
13,390,048 |
12,489,229 |
12,015,968 |
11,228,315 |
12,036,038 |
|
Net Assets |
9,375,568 |
9,225,184 |
8,408,614 |
8,177,181 |
7,913,674 |
|
Net Assets Backing |
5,975,217 |
5,548,432 |
5,198,155 |
4,800,624 |
4,291,876 |
|
Shareholders' Funds |
5,975,217 |
5,548,432 |
5,198,155 |
4,800,624 |
4,291,876 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
5,475,217 |
5,048,432 |
4,698,155 |
4,300,624 |
3,791,876 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.08 |
0.01 |
0.03 |
0.02 |
0.00 |
|
Liquid Ratio |
1.55 |
2.21 |
1.81 |
2.11 |
1.41 |
|
Current Ratio |
3.06 |
3.60 |
3.09 |
3.34 |
2.57 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
86 |
64 |
74 |
71 |
74 |
|
Debtors Ratio |
71 |
86 |
89 |
97 |
69 |
|
Creditors Ratio |
71 |
43 |
46 |
34 |
28 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.62 |
0.77 |
0.83 |
1.04 |
1.28 |
|
Liabilities Ratio |
1.24 |
1.25 |
1.31 |
1.34 |
1.80 |
|
Times Interest Earned Ratio |
19.54 |
17.30 |
14.70 |
6.86 |
12.17 |
|
Assets Backing Ratio |
18.75 |
18.45 |
16.82 |
16.35 |
15.83 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
15.82 |
14.86 |
14.07 |
6.36 |
9.47 |
|
Net Profit Margin |
12.53 |
11.01 |
10.50 |
4.70 |
6.77 |
|
Return On Net Assets |
45.79 |
44.27 |
41.01 |
17.60 |
31.02 |
|
Return On Capital Employed |
45.79 |
42.81 |
38.25 |
15.25 |
27.57 |
|
Return On Shareholders' Funds/Equity |
54.00 |
51.37 |
46.12 |
18.93 |
37.53 |
|
Dividend Pay Out Ratio (Times) |
0.87 |
0.88 |
0.83 |
0.44 |
4.66 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
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.