|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
JTS GLOBAL
RESOURCES SDN. BHD. |
|
|
|
|
Registered Office : |
20-M, Lorong Gopeng, 41400 Klang, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
17.09.2009 |
|
|
|
|
Com. Reg. No.: |
872713-M |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in trading of palm oil (We tried to confirm / obtain the detailed activity but the same is
not available from any sources) |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
malaysia ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw materials
into an emerging multi-sector economy. Under current Prime Minister NAJIB,
Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and
policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with 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. |
: |
872713-M |
|
COMPANY NAME |
: |
JTS GLOBAL
RESOURCES SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
17/09/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
20-M, LORONG GOPENG, 41400 KLANG,
SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
CENTRO, #22-05, NO. 8, JALAN BATU TIGA
LAMA, 41300 KLANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-33432018 |
|
FAX.NO. |
: |
03-33430018 |
|
CONTACT PERSON |
: |
ZIRKEL THORSTEN ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
46202 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100.00 DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
MYR (9,831) [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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 palm oil.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
21/02/2014 |
MYR 100,000.00 |
MYR 100.00 |
|
15/02/2013 |
MYR 100,000.00 |
MYR 2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ZIRKEL THORSTEN + |
8, JALAN BATU TIGA LAMA, 41300 KLANG, SELANGOR, MALAYSIA. |
C1V5VRTCY |
6.00 |
6.00 |
|
DATO' TAN SEE MENG |
NO.28, JALAN HILIR 1, OFF JALAN TELOK GADONG, TAMAN GEMBIRA, 41100 KLANG, SELANGOR, MALAYSIA. |
570604-10-6303 5267084 |
94.00 |
94.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. TAN HENG CHIAN |
|
Address |
: |
NO.31, JALAN DAMAR LAUT 3, GLENMARIE COVE, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
880706-43-5259 |
|
Date of Birth |
: |
06/07/1988 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/12/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
ZIRKEL THORSTEN |
|
Address |
: |
8, JALAN BATU TIGA LAMA, 41300 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
C1V5VRTCY |
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
09/07/2012 |
|
1) |
Name of Subject |
: |
ZIRKEL THORSTEN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ECOVIS AHL |
|
Auditor' Address |
: |
9-3, JALAN 109F, PLAZA DANAU 2, TAMAN DANAU DESA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. WONG YIT DONG |
|
IC / PP No |
: |
4761187 |
|
|
New IC No |
: |
550405-06-5387 |
|
|
Address |
: |
20-M, LORONG GOPENG, 41400 KLANG, SELANGOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. NURZALIFAH BINTI KASIM |
|
New IC No |
: |
850410-14-5140 |
|
|
Address |
: |
20-M, LORONG GOPENG, 41400 KLANG, SELANGOR, MALAYSIA. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Goods Traded |
: |
PALM OIL |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is
principally engaged in the (as a / as an) trading of palm oil.
The Subject refused to disclose its operation.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0333432018 |
|
Current Telephone Number |
: |
03-33432018 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
CENTRO, 22-05, NO. 8, JALAN BATU TIGA
LAMA,41300,KLANG,SELANGOR. |
|
Current Address |
: |
CENTRO, #22-05, NO. 8, JALAN BATU TIGA
LAMA, 41300 KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
· we contacted one of the staff from the Subject and she provided some information.
· The Subject refused to disclose its number of employees.
· The contact number provided at 5612 6520 is unanswered.
·
The Subject also refused to disclose when it has
commenced its business.
|
The Subject's turnover was nil during the
year indicate that it was inactive. As a result, we are unable to comment on
its financial performance. |
||||||
|
Overall financial
condition of the Subject : N/A |
||||||
|
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 |
|
|
46202 : Wholesale of palm oil |
|
|
INDUSTRY : |
PALM OIL |
|
Oil palm is one of the main drivers of Malaysia's agriculture sector
where it has accounting for 71% of its agricultural land bank. Malaysia is
the one of the biggest producers and exporters of palm oil prodcuts in the growing
global need for oils and fats. The palm oil industry is expected to grow
about 7.1% over the next 10 years where it is driven by new plantation
expansion, venture of large plantation companies into high potential
downstream activities such as processed food, biodiesel, second generation
biofuel and oleochemicals. Malaysia currently accounts for 39 % of world palm
oil production and 44% of world exports. Taken into account of other oils
& fats produced in the country, Malaysia accounts for 12% and 27% of the
world's total production and exports of oils and fats. Being one of the
biggest producers and exporters of palm oil and palm oil products, Malaysia
has an important role to play in fulfilling the growing global need for oils
and fats sustainably. |
|
|
In year 2013, the production of crude palm oil is envisaged to rebound
2.5% to 18.9 million tonnes on account of expanded matured areas to 4.44
million hectares. However Malaysian palm oil’s supply and demand for February
2013 with palm oil stocks continued to be lower for the consecutive two
months at 2.444 million tonnes, a decrease of 5.23% from January 2013 and was
slightly above the average estimation at 2.42 million tonnes. The exports in
February 2013 fell 13.98% to 1.398 million tonnes while the palm oil
production reduced 19.15% to 1.296 million tonnes. The palm oil production
would be expected to be in dismal as the oil palm had entered a low yield
cycle currently. |
|
|
According to the 2013 Budget, the palm oil sector contracted 8.6% during
the first half of the year 2012 due to the less favourable weather conditions
and natural production down cycle that constrained the output of fresh fruit
bunches. However, the yield is expected to improve in the later part of the
year, with the subsector registering a smaller contraction of 2.8% in 2012.
Total planted areas of oil palm increased substantially by 77,106 hectares to
five million hectares as at end-June 2012. Of the total planted areas, 28.4%
or 1.5 million hectares are located in Sabah. With the acceleration of
planting activity, total planted areas are expected to increase to 5.1
million hectares in 2012. |
|
|
According to the Performance Management and Delivery Unit (Pemandu), the
Palm Oil National Key Economic Area (NKEA), Malaysia's most important
commodity is expected to contribute from RM125 billion to RM178 billion to
the Gross National Income (GNI) and create about 41,600 jobs by 2020, with
the government's focus on eight Entry Point Projects (EPPs). As part of the
government's efforts to accelerate the country's replanting and new planting
programme and manage stock levels, the government has allocated an additional
RM432 million as funds for independent smallholders' replanting and new
planting initiatives in 2013. According to Pemandu, the government will also
accelerate the replanting of oil palm by plantations and smallholders as well
as new planting by independent smallholders to 130,000 ha. and raise the area
complying with best practices by an additional 200,000 ha. in 2013. |
|
|
However, the future performance of the industry is unpredictable as
with many factors that can give impact to the industry is still unknown.
Nationally, the sentiments seem positive, internationally there are mixed
signals but with the current growth rate, an expected increase in demand, a
recovering global economy, analysts and industry sources are reckoning that
the bull may be able to hold the bear back. |
|
|
Under the palm oil National Key Economic Areas (NKEAs) in 2011, the
launches of the Oil Palm Replanting and New Planting Smallholders Schemes
ware improved the smallholders agricultural practices in 2012.The oil
extraction rate is set to improve to 21.05% in three-year from 2012 to low of
19.70% as 1.35 more. |
|
|
In driving speedier harvesting of oil palm fruits, the government has
introduced the RM1,000 discount scheme to encourage the use of motorised sickle
called Cantas and diamond blade sharpeners to enhance the palm oil industry.
MPOB appointed 100 enforcement officers to visit mills to ensure the only
good quality crops are processed. Since 2007, the palm oil industry has grown
at an average of 14.5 per cent annualy until 2012. If the momentum is
maitained for next 5 to 8 years, malaysia will achive its target of two
million of hecters palm oil. |
|
|
OVERALL INDUSTRY OUTLOOK : Mature |
|
|
Incorporated in 2009, the Subject is a
Private Limited company, focusing on trading of palm oil. The Subject has
been in business for 5 years and it has slowly been building up contact with
its clients while competing in the industry. However, it has yet to enjoy a
stable market shares as it need to compete many well established players in
the same field. 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. We noted that the
Subject's issued and paid up capital stands at only MYR 100. This means that
its creditors are only able to recover a limited amount. Hence, caution is
advised. Overall, we regard that the Subject's management
capability is weak. Without capable management, the Subject is unlikely to be
successful and often contribute to unacceptable levels of accountability.
Weak management can affect productivity, profitability, sales growth and
ultimately can result in the failure of a business. The Subject's turnover figure was nil as
it has yet to commence its business operation during the financial year.
Hence, we are unable to further comment on the Subject's financial
health. The industry has reached its optimum level
and is generally stable. It is saturated and very competitive. Thus, the
Subject's growth prospect is very much depends on its capacity in sustaining
its performance in the market. Based on the above unfavourable condition,
we regard granting credit to the Subject to be quite risky. Hence, credit is
not recommended. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
JTS GLOBAL
RESOURCES SDN. BHD. |
|
Financial Year End |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
0 |
0 |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(1,969) |
(2,112) |
(1,808) |
(3,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(1,969) |
(2,112) |
(1,808) |
(3,944) |
|
Taxation |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(1,969) |
(2,112) |
(1,808) |
(3,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
||||
|
As previously reported |
(7,864) |
(5,752) |
(3,944) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(7,864) |
(5,752) |
(3,944) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(9,833) |
(7,864) |
(5,752) |
(3,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(9,833) |
(7,864) |
(5,752) |
(3,944) |
|
============= |
============= |
============= |
============= |
|
|
JTS GLOBAL
RESOURCES SDN. BHD. |
|
Cash & bank balances |
2 |
2 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
2 |
2 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
2 |
2 |
2 |
2 |
|
============= |
============= |
============= |
============= |
|
|
Other creditors & accruals |
4,155 |
2,695 |
- |
- |
|
Amounts owing to director |
5,678 |
5,169 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
9,833 |
7,864 |
5,752 |
3,944 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
2 |
2 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2 |
2 |
2 |
2 |
|
Retained profit/(loss) carried forward |
(9,833) |
(7,864) |
(5,752) |
(3,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(9,833) |
(7,864) |
(5,752) |
(3,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
|
============= |
============= |
============= |
============= |
|
|
JTS GLOBAL
RESOURCES SDN. BHD. |
|
TYPES OF FUNDS |
||||
|
Cash |
2 |
2 |
- |
- |
|
Net Liquid Funds |
2 |
2 |
- |
- |
|
Net Liquid Assets |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Net Current Assets/(Liabilities) |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Net Tangible Assets |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Net Monetary Assets |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
BALANCE SHEET
ITEMS |
||||
|
Total Borrowings |
0 |
0 |
- |
- |
|
Total Liabilities |
9,833 |
7,864 |
5,752 |
3,944 |
|
Total Assets |
2 |
2 |
2 |
2 |
|
Net Assets |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Net Assets Backing |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Shareholders' Funds |
(9,831) |
(7,862) |
(5,750) |
(3,942) |
|
Total Share Capital |
2 |
2 |
2 |
2 |
|
Total Reserves |
(9,833) |
(7,864) |
(5,752) |
(3,944) |
|
LIQUIDITY
(Times) |
||||
|
Cash Ratio |
0.00 |
0.00 |
- |
- |
|
Liquid Ratio |
0.00 |
0.00 |
- |
- |
|
Current Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
WORKING CAPITAL
CONTROL (Days) |
||||
|
Stock Ratio |
0 |
0 |
- |
- |
|
Debtors Ratio |
0 |
0 |
- |
- |
|
Creditors Ratio |
0 |
0 |
- |
- |
|
SOLVENCY RATIOS
(Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
- |
- |
|
Liabilities Ratio |
(1.00) |
(1.00) |
(1.00) |
(1.00) |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
- |
|
Assets Backing Ratio |
(4,915.50) |
(3,931.00) |
(2,875.00) |
(1,971.00) |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating Profit Margin |
0.00 |
0.00 |
- |
- |
|
Net Profit Margin |
0.00 |
0.00 |
- |
- |
|
Return On Net Assets |
20.03 |
26.86 |
31.44 |
100.05 |
|
Return On Capital Employed |
20.03 |
26.86 |
31.44 |
100.05 |
|
Return On Shareholders' Funds/Equity |
20.03 |
26.86 |
31.44 |
100.05 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
UK Pound |
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
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.