|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOVID BERHAD |
|
|
|
|
Formerly Known As : |
HOVID SDN BHD |
|
|
|
|
Registered Office : |
121, Jalan Tunku Abdul Rahman, 30010 Ipoh, Perak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
20.05.1980 |
|
|
|
|
Com. Reg. No.: |
58476-A |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturing of Pharmaceutical and Herbal Products |
|
|
|
|
No. of Employees : |
500 [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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
|
REGISTRATION NO. |
: |
58476-A |
||||
|
COMPANY NAME |
: |
HOVID BERHAD |
||||
|
FORMER NAME |
: |
HOVID SDN BHD (05/12/2003) |
||||
|
INCORPORATION DATE |
: |
20/05/1980 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PUBLIC |
||||
|
LISTED STATUS |
: |
YES |
||||
|
LISTED DATE |
: |
05/04/2005 |
||||
|
REGISTERED ADDRESS |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
05-5060690 |
||||
|
FAX.NO. |
: |
05-5061215 |
||||
|
EMAIL |
: |
INFO@HOVID.COM |
||||
|
WEB SITE |
: |
WWW.HOVID.COM |
||||
|
CONTACT PERSON |
: |
LIONG KAM HON ( EXECUTIVE DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
86905 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF PHARMACEUTICAL AND HERBAL PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 76,229,930.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 172,510,000 [2013] |
||||
|
NET WORTH |
: |
MYR 160,009,000 [2013] |
||||
|
STAFF STRENGTH |
: |
500 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
As a public limited company, the Subject must have at least one shareholder
but there is no limit on the maximum number of shareholders. The Subject must
have at least two directors. A public 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, suing or be sued by other
companies. The liabilities of the shareholders are only up 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 must file in its annual return, together with its
financial statements with the Registrar of Companies. In Malaysia, all the
companies seeking listing on the Bursa Malaysia (Malaysia Stock Exchange) must
be public limited companies.
The Subject is principally engaged in the (as a / as an) manufacturing
of pharmaceutical and herbal products.
The Subject was listed on the Main Board of Bursa Malaysia Securities
Bhd on 05/04/2005
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/01/2014 |
MYR 200,000,000.00 |
MYR 76,229,930.00 |
|
18/12/2013 |
MYR 200,000,000.00 |
MYR 76,229,100.00 |
|
16/12/2013 |
MYR 200,000,000.00 |
MYR 76,208,000.00 |
|
15/11/2013 |
MYR 200,000,000.00 |
MYR 76,209,100.00 |
|
10/10/2012 |
MYR 200,000,000.00 |
MYR 76,208,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
EB NOMINEES (TEMPATAN) SENDIRIAN BERHAD FOR PLEDGED SECURITIES ACCOUNT
FOR HO SUE SAN @ DAVID HO SU |
- |
- |
111,000,000.00 |
14.56 |
|
MR. HO SUE SAN @ DAVID HO SUE SAN + |
51, JALAN CHIN HWA, CHATEAU GARDEN, 30250 IPOH, PERAK, MALAYSIA. |
490920-08-5903 1391613 |
60,383,700.00 |
7.92 |
|
MALAYSIA NOMINEES (TEMPATAN) SENDIRIAN BERHAD FOR PLEDGED SECURITIES
ACCOUNT FOR HO SUE SAN @ DAVID |
- |
- |
59,730,000.00 |
7.84 |
|
LEMBAGA TABUNG HAJI |
201, JALAN TUN RAZAK, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
00005067 |
44,115,900.00 |
5.79 |
|
CIMB GROUP NOMINEES (TEMPATAN) SDN BHD FOR PLEDGED SECURITIES ACCOUNT
FOR HO SUE SAN @ DAVID HO SUE |
- |
- |
42,500,000.00 |
5.58 |
|
HDM NOMINEES (TEMPATAN) SDN BHD FOR PLEDGED SECURITIES ACCOUNT FOR HO
SUE SAN @ DAVID HO SUE SAN |
- |
- |
23,000,000.00 |
3.02 |
|
MR. PUI CHENG WUI |
JALAN SUNGAI MANGGIS, PERSIARAN SYED PUTRA, MALAYSIA. |
461031-03-5153 1265964 |
14,621,000.00 |
1.92 |
|
CIMSEC NOMINEES (TEMPATAN) SDN BHD FOR CIMB BANK FOR KOH KIN LIP
(MY0502) |
- |
- |
14,000,000.00 |
1.84 |
|
HSBC NOMINEES (ASING) SDN BHD FOR EXEMPT AN FOR SKANDINAVISKA ENSKILDA
BANKEN AB (SWEDISH CLIENTS) |
- |
- |
12,837,700.00 |
1.68 |
|
KENANGA NOMINEES (TEMPATAN) SDN BHD FOR PLEDGED SECURITIES ACCOUNT FOR
OH KIM SUN |
- |
- |
12,568,800.00 |
1.65 |
|
KENANGA NOMINEES (TEMPATAN) SDN BHD FOR PLEDGED SECURITIES ACCOUNT FOR
MAK TIAN MENG |
- |
- |
10,000,000.00 |
1.31 |
|
REMAINING SHAREHOLDERS |
- |
- |
357,542,200.00 |
46.90 |
|
--------------- |
------ |
|||
|
762,299,300.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
714299D |
MALAYSIA |
HOVID NUTRIWORLD SDN. BHD. |
100.00 |
30/06/2013 |
|
804511M |
MALAYSIA |
HOVID RESEARCH SDN. BHD. |
100.00 |
30/06/2013 |
|
457587X |
MALAYSIA |
HOVID MARKETING SDN. BHD. |
100.00 |
30/06/2013 |
|
420434D |
MALAYSIA |
JAVID SDN. BHD. |
100.00 |
30/06/2012 |
|
PHILIPPINES |
HOVID INC |
100.00 |
30/06/2012 |
|
|
71816T |
MALAYSIA |
HOVID PHARMACY SDN. BHD. |
100.00 |
30/06/2013 |
|
CHINA |
HOVID LIMITED |
60.00 |
30/06/2012 |
|
|
INDIA |
BIODEAL PHARMACEUTICALS PRIVATE LIMITED |
51.00 |
30/06/2012 |
|
DIRECTOR 1
|
Name Of Subject |
: |
DATO' CHE MOHD ZIN BIN CHE AWANG |
|
Address |
: |
65, JALAN SS3/53, TAMAN SUBANG, 47300 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
2760805 |
|
New IC No |
: |
490928-03-5169 |
|
Date of Birth |
: |
28/09/1949 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/03/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. CHUAH CHAW TEO |
|
Address |
: |
4, PERSIARAN 8, ARENA KEPAYANG PUTRA, FAIR PARK, 31400 IPOH, PERAK,
MALAYSIA. |
|
IC / PP No |
: |
4235455 |
|
New IC No |
: |
510828-08-5973 |
|
Date of Birth |
: |
28/08/1951 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/12/2004 |
|
Qualification |
: |
BSC. OF SCIENCE (HONS) IN 1975 & DOC IN APPLIED ORGANIC CHEMISTRY
IN 1979 FROM UNIVERSITY OF OTAGO, NEW ZEALAND |
|
Profile |
: |
JOINED CHUAN SIN S/B AS GM IN JULY 1997 |
|
Other Info |
: |
MEMBER OF THE COMMITTEE (SIRIM) IN 1991 |
DIRECTOR 3
|
Name Of Subject |
: |
Y.M. RAJA SHAMSUL KAMAL BIN R. SHAHRUZZAMAN |
|
Address |
: |
1, JALAN 4/6, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6183860 |
|
New IC No |
: |
610313-10-6665 |
|
Date of Birth |
: |
13/03/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/12/2004 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. LEONG KWOK YEE |
|
Address |
: |
AA-19-01, BLOCK A, 10, MONT KIARA, JALAN KIARA 1, MONT KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
E3017986 |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
22/12/2004 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. GOH TIAN HOCK |
|
Address |
: |
11, LALUAN PERMAI 7, TAMAN IPOH PERMAI, 31400 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
A0734434 |
|
New IC No |
: |
670428-10-6563 |
|
Date of Birth |
: |
28/04/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2014 |
DIRECTOR 6
|
Name Of Subject |
: |
MR. YUEN KAH HAY |
|
Address |
: |
7, LORONG BATU UBAN 5, TAMAN CENTURY, 11700 GELUGOR, PULAU PINANG,
MALAYSIA. |
|
IC / PP No |
: |
4562843 |
|
New IC No |
: |
540101-07-5261 |
|
Date of Birth |
: |
01/01/1954 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2014 |
DIRECTOR 7
|
Name Of Subject |
: |
MR. HO SUE SAN @ DAVID HO SUE SAN |
|
Address |
: |
51, JALAN CHIN HWA, CHATEAU GARDEN, 30250 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
1391613 |
|
New IC No |
: |
490920-08-5903 |
|
Date of Birth |
: |
20/09/1949 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/12/2004 |
|
1) |
Name of Subject |
: |
DAVID HO SUE SAN |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
LIONG KAM HON |
|
Position |
: |
EXECUTIVE DIRECTOR |
|
|
3) |
Name of Subject |
: |
LEONG AH LING |
|
Position |
: |
PURCHASING MANAGER |
|
|
4) |
Name of Subject |
: |
HO SUE SAN |
|
Position |
: |
MANAGER |
|
|
Auditor |
: |
SJ GRANT THORNTON |
|
Auditor' Address |
: |
SHERATON IMPERIAL COURT, JALAN SULTAN ISMAIL, LEVEL 11, 50250 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. GOH TIAN HOCK |
|
IC / PP No |
: |
A0734434 |
|
|
New IC No |
: |
670428-10-6563 |
|
|
Address |
: |
11, LALUAN PERMAI 7, TAMAN IPOH PERMAI, 31400 IPOH, PERAK, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. NG YUET SEAM |
|
IC / PP No |
: |
A0930116 |
|
|
New IC No |
: |
671205-08-5392 |
|
|
Address |
: |
1, LORONG EVERGREEN, TAMAN BUNGA RAYA, 31650 IPOH, PERAK, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
2) |
Name |
: |
RHB BANK BHD |
|
3) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
01/07/1987 |
N/A |
OVERSEACHINESE BANKING COPRPORATION LIMITED |
MYR 2,050,000.00 |
Satisfied |
|
2 |
01/07/1987 |
N/A |
OVERSEA CHINESE BANKING CORPORATION LTD |
MYR 500,000.00 |
Satisfied |
|
3 |
01/07/1987 |
N/A |
OVERSEA CHINESE BANKING CORPORATION |
MYR 500,000.00 |
Satisfied |
|
4 |
14/07/1987 |
N/A |
OVERSEA CHINESE FINANCE COMPANY BERHAD |
MYR 500,000.00 |
Satisfied |
|
5 |
27/03/1989 |
N/A |
KWONG YIK BANK BERHAD |
MYR 500,000.00 |
Satisfied |
|
6 |
27/03/1989 |
N/A |
KWONG YIK BANK BERHAD |
MYR 4,500,000.00 |
Satisfied |
|
7 |
23/04/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
8 |
23/04/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 540,000.00 |
Satisfied |
|
9 |
12/05/1990 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
10 |
06/11/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 500,000.00 |
Satisfied |
|
12 |
07/03/1991 |
N/A |
BANK PEMBANGUNAN MALAYSIA BERHAD |
MYR 1,400,000.00 |
Satisfied |
|
11 |
03/07/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 720,000.00 |
Satisfied |
|
13 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 8,315,000.00 |
Satisfied |
|
14 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 7,900,000.00 |
Satisfied |
|
15 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 415,000.00 |
Satisfied |
|
16 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 7,900,000.00 |
Satisfied |
|
17 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 415,000.00 |
Satisfied |
|
18 |
16/11/1991 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
19 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
20 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
21 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
22 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
23 |
22/02/1993 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
24 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,900,000.00 |
Satisfied |
|
25 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 900,000.00 |
Satisfied |
|
26 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
27 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 900,000.00 |
Satisfied |
|
28 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
29 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
30 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
31 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
32 |
16/11/1996 |
N/A |
SOUTHERN BANK BERHAD |
MYR 2,416,000.00 |
Satisfied |
|
33 |
15/01/2001 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 15,000,000.00 |
Unsatisfied |
|
34 |
15/01/2001 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 3,000,000.00 |
Unsatisfied |
|
36 |
31/12/2001 |
N/A |
BANK PEMBANGUAN DAN INFRASTRUKTUR MALAYSIA BERHAD |
MYR 3,000,000.00 |
Satisfied |
|
35 |
10/01/2002 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 3,000,000.00 |
Satisfied |
|
37 |
01/07/2002 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 200,000.00 |
Satisfied |
|
38 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
39 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
40 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 1,800,000.00 |
Unsatisfied |
|
41 |
08/10/2004 |
N/A |
RHB BANK BERHAD |
MYR 4,800,000.00 |
Satisfied |
|
42 |
14/03/2005 |
N/A |
RHB BANK BERHAD |
MYR 3,447,134.00 |
Satisfied |
|
43 |
21/11/2007 |
N/A |
HWANGDBS INVESTMENT BANK BERHAD |
- |
Satisfied |
|
44 |
09/05/2008 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
45 |
16/09/2008 |
N/A |
MALAYAN BANKING BHD |
MYR 13,360,000.00 |
Unsatisfied |
|
46 |
30/10/2009 |
N/A |
AFFIN INVESTMENT BANK BERHAD |
MYR 20,000,000.00 |
Satisfied |
* 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 |
Percentage |
: |
30% |
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Import Countries |
: |
CHINA,JAPAN,KOREA,GERMANY,INDIA,UNITED STATES |
|||
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
PHARMACEUTICAL INDUSTRIES,PHARMACIES,DEALERS,DISTRIBUTORS |
|||
|
Products manufactured |
: |
|
|
|
Product Brand Name |
: |
|
|
|
Award |
: |
1 ) SPECIAL AWARD FOR INNOVATIVE PRODUCT BY MINISTRY OF INTERNATIONAL TRADE
AND INDUSTRY (MITI) Year :2004 |
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) MALAYSIA FOOD & BEVERAGE INDUSTRY |
|
|
Ownership of premises |
: |
OWNED |
|
|
Shifts |
: |
2 SHIFTS (24 HOURS OPERATING) |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
|||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
500 |
500 |
500 |
500 |
500 |
500 |
|||
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
pharmaceutical and herbal products.
The Hovid Group's range of principal products and activities includes:
* special drug delivery systems, such as modified release formulations and
bio-availability enhanced formulations;
* ethical products, including anti-biotics, anti-diabetics, anti-hypertensives,
anti-malarial and anti-inflammatory analgesics;
* dietary supplements;
* consumer products; and
* the commercial extraction of palm tocotrienol complex, mixed
carotenoid complex and phytosterols from palm fruits.
The Subject's manufacturing facilities and practices in respect of its
pharmaceutical products conform to the PIC/S' GMP and Good Laboratory Practice
Standards.
The Subject's herbal tea has been in the market since the early 40s and it
comprises 26 types of herbs and is blended with tea leaves.
We were informed that the Subject has warehouses located in Kuala Lumpur, Pulau
Pinang, Johor, Sabah and Sarawak.
The Group undertakes extraction and processing of nutrient from palm oil,
trading of medical and pharmaceutical products.
The Group is also active in marketing health and wellness products via the multi-level
network market.
19 February 2014
THE share price of Hovid Bhd, the country's largest publicly traded medical
drug exporter in terms of sales, is on the verge of a major breakthrough.Hong
Leong Industries Research, in a report, said on a technical platform, the
stock's price has broken the "bullish flag" chart pattern. This was a
result of strong buying interest since the start of the year, it added.
According to the research house, the stock could move upwards and trade at between
39 sen and 40 sen a share. The stock currently trades in the 35 sen-a-share
bandwagon.However, the technical parameters to value Hovid is much lower than
CIMB Research's valuation of the company, based on its business.
To recap, CIMB Research last year valued Hovid at 43 sen a share but that
valuation did not take into account the possibility of Hovid winning the United
States Food and Drug Administration approval to sell tocotrienols as a drug.If
successful, it could open up a market that is worth billions of ringgit in
annual sales, CIMB had said in the report.More than half of Hovid's revenue is
export-based and the company is the only Malaysia-listed pharmaceutical company
that holds patents, signifying its strong research and development culture.
25th April 2012
The Sc, a manufacturer of ethical drugs and health and dietary supplements,
plans to build a manufacturing plant in the Philippines, possibly within two
years, as its business here improves, said its managing director David Ho.
The Philippine market had been generating steady sales for Hovid over the past
seven years, Ho said.
He added that all of the company products, numbering almost 30, were well
accepted in the country.
"We like to grow our products to more than 100 eventually and we are
looking at setting up a plant here as imported products are subject to a three
per cent here," he told Business Times on the sidelines of the
Malaysia-Philippines Palm Oil Trade Fair & Seminar.
The seminar was organised by the Malaysian Palm Oil Council and the Malaysian
Palm Oil Board.
There was also a forum themed "Healthy Lifestyle with Palm Products"
targeting the medical fraternity within the Philippines.
Ho said SC products were managed and marketed by its wholly-owned subsidiary
Hovid Philippines with a staff strength of more than 100 people.
"Business has been good for us here, although it took a while to get going
as product registering takes about a year," he said.
Four to five per cent of SC revenue came from the Philippines, he added.
Close to 60 per cent of Hovid products are exported to most Asian countries,
except Indonesia and Thailand, and African countries, which is its biggest
market.
"We can not go into Indonesia because the country does not accept
Malaysia-registered products while in Thailand, the product registering process
is not easy and time-consuming," he lamented.
SC currently has two plants in Perak and one in India.
Ho said the company was looking at building another plant in Malaysia and it
might take place next year.
He declined to reveal the likely investment cost but said even a small plant
would cost between RM20 million and RM30 million.
On its business outlook this year, Ho said he was confident that Hovid would do
well in the financial year ending June 30, 2012, after last financial year weak
performance, in which it was dragged down by the numbers in its then
loss-making subsidiary, Carotech Bhd.
For the second quarter ended December 31, 2011, SC net profit grew to RM10.76
million from RM1.47 million in the previous corresponding quarter.
It also made a one-time gain of RM7.7 million after it pared down its interest
in Carotech to 17.6 per cent from 25 per cent previously.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
055060690 |
|
Current Telephone Number |
: |
05-5060690 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
P O BOX 331, 30010 IPOH 121, JALAN TUNKU ABDUL RAHMAN PERAK MALAYSIA |
|
Current Address |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 3rd March 2014 we contacted one of the staff from the Subject and she provided
some information.
The address provided belongs to the Subject's PO Box address.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
12.70% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
15.14% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The
Subject's management have been efficient in controlling its operating costs.
The Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The Subject's
management was quite efficient in handling its debtors. The Subject's debtors
days were at an acceptable range, thus the risk of its debts turning bad was
minimised. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.71 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.40 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 |
[ |
11.88 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.08 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 : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. 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 |
|
|
86905 : Herbalist and homeopathy services |
|
|
INDUSTRY : |
ECONOMY |
|
The country's gross domestic product (GDP) expanded by 6.4% in the 4th
quarter ended Dec 31 2012 on a year-on-year basis driven by sustained
domestic demand and high investment growth. For the full year 2012, the GDP
growth hit 5.6%, well above the government’s revised forecast of 4.5%-5.0%
made in year 2011. Despite the weak and uncertain global economic conditions,
there is remarkable optimism that Malaysia's economy could still continue to
grow at a relatively healthy pace. The government has, in fact, targeted a
gross domestic product (GDP) growth rate of between 4.5% and 5.5% for 2013.
This is quite an encouraging growth rate, and an achievable one at that,
according to most economists. |
|
|
Additionally, tepid economic growth in advanced economies and the
slowdown of emerging economies especially in China and India, point to
weakening global economic prospects. The deterioration in the external
environment and correction in commodity prices are expected to weigh on
Malaysia’s export performance during the second half of 2012. Nevertheless,
the vibrant domestic demand is expected to be sustained during the second
half of 2012, supported by both public and private sectors amid conducive
financial market conditions, stable prices and a favourable labour market.
The external sector provided little support with exports showing a slower
pace of decrease in 4th quarter of year 2012 to -1.5%, while imports also
decreased by -0.9% resulting in an actual increase in the level of net
exports compared to 3rd quarter of year 2012, although growth remained
negative relative to 4th quarter of year 2012. |
|
|
Domestic demand will be the main driver of the Malaysian economy
supported by private and public sector expenditure. Growth in private consumption
is expected to be buoyed by stable employment and income coupled with lower
inflation. The salary revision and bonus for civil servants, cash assistance
under Bantuan Rakyat 1Malaysia (BR1M), reward to the Federal Land Development
Authority (FELDA) settlers and other cash payments to assist various groups
supported private consumption. Private investment is envisaged to drive
economic growth over the medium term, underpinned by the ongoing
implementation of the Economic Transformation Programme (ETP) and vibrant
construction activity. Growth in private investment will be broad-based in
line with positive investors’ confidence and strong domestic demand. Public
investment will be largely led by the Non-Financial Public Enterprises’
(NFPEs) capital spending on oil and gas (O&G), telecommunications and
transportrelated industries. The Investment expenditure was about evenly
divided between structures and machinery & equipment, but the former
category showed continued strong growth at 25.0% over the 4th quarter ended
Dec 31 2011, while growth in the latter category slowed to 7.6% from 22.3% in
3rd quarter ended Sept 30 2012. |
|
|
Growth was broad based with all major sectors registering increases.
The only subsectors that posted declines were the textile manufacturing and
forestry and logging activities. The construction sector posted the strongest
growth, hitting 15% on the year 2012, not surprising given the spate of major
projects and related private sector property investment over the year. Besides,
the agriculture sectors had a slightly grew at 0.6% while the manufacturing
and mining industries continued growth at 4.2% and 1.5% respectively. The
service sector had drop to 5.5%. However, according to the Minister of
Finance, the agriculture and construction sectors are projected to expand
2.4% and 11.2% respectively while the manufacturing and the mining industries
are forecast to grow 4.9% and 2.7& respectively. Meanwhile, the service
sector is expected to grow 5.6%. |
|
|
With domestic demand remaining robust and signs of improvement in the
external sector, there are far less grounds for an interest rate cut, unlike
in the rest of the region where growth has, with the exception of Thailand,
been less than impressive. High capacity utilisation, strong credit growth
and the need to rein in household debt are all mitigating factors against an
easing of policy. Meanwhile, in maintaining the balance between economic
growth and inflationary pressures in Malaysia, it is expected that interest
rates in the country will remain stable through 2013. The benchmark overnight
policy rate (OPR) currently stands at 3%, which has been supportive of the
country's economic growth amid a low inflation environment with consumer
price index (CPI) growing at less than 2% in 2012. But with price pressures
expected to pick up in year 2014, with CPI expected to increase around 2% to
3%, some economists expect the OPR to likely be raised by 25 basis points to
3.25% in the second half of year 2014. |
|
|
In conclusion, the outlook for the Malaysian economy is going to be
challenging, with the ongoing global economic slowdown in view of the debt
crisis in Europe and the weakening of the US economy. Besdies, the loss of
growth momentum in Malaysia will continue and become serious enough to
sidetrack the country from its long-term development goals. Thus, nominal
Gross National Income (GNI) per capita is expected to increase 6.4% to
RM32,947 in year 2013. In terms of Public-Private Partnership (PPP) Facilitation
Fund, per capita income is expected to grow 4.4% to reach USD16,368. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
Financial Year
End |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
172,510,000 |
164,808,000 |
153,456,000 |
365,166,000 |
248,607,000 |
|
Other Income |
2,225,000 |
2,921,000 |
7,299,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
174,735,000 |
167,729,000 |
160,755,000 |
365,166,000 |
248,607,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
25,770,000 |
31,362,000 |
(2,172,000) |
(97,678,000) |
(4,244,000) |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
- |
(9,106,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
25,770,000 |
22,256,000 |
(2,172,000) |
(97,678,000) |
(4,244,000) |
|
Taxation |
(5,297,000) |
(6,498,000) |
(3,945,000) |
5,080,000 |
(2,582,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
20,473,000 |
15,758,000 |
(6,117,000) |
(92,598,000) |
(6,826,000) |
|
Minority interests |
(146,000) |
(76,000) |
66,000 |
38,646,000 |
7,243,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
20,327,000 |
15,682,000 |
(6,051,000) |
(53,952,000) |
417,000 |
|
Extraordinary items |
- |
- |
12,088,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
20,327,000 |
15,682,000 |
6,037,000 |
(53,952,000) |
417,000 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
19,459,000 |
12,350,000 |
5,268,000 |
59,220,000 |
58,803,000 |
|
Prior year adjustment |
- |
- |
1,045,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,459,000 |
12,350,000 |
6,313,000 |
59,220,000 |
58,803,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
39,786,000 |
28,032,000 |
12,350,000 |
5,268,000 |
59,220,000 |
|
TRANSFER TO RESERVES - General |
7,250,000 |
- |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(8,573,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
47,036,000 |
19,459,000 |
12,350,000 |
5,268,000 |
59,220,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
574,000 |
810,000 |
900,000 |
2,496,000 |
2,211,000 |
|
Term loan / Borrowing |
475,000 |
751,000 |
2,328,000 |
7,215,000 |
4,798,000 |
|
Others |
1,320,000 |
1,632,000 |
3,323,000 |
7,801,000 |
6,308,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,369,000 |
3,193,000 |
6,551,000 |
17,512,000 |
13,317,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
111,555,000 |
91,054,000 |
91,618,000 |
389,778,000 |
396,259,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Associated companies |
- |
- |
14,033,000 |
- |
- |
|
Investment properties |
2,000,000 |
1,680,000 |
850,000 |
850,000 |
850,000 |
|
Deferred assets |
451,000 |
186,000 |
125,000 |
108,000 |
101,000 |
|
Others |
- |
- |
- |
269,000 |
252,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
2,451,000 |
1,866,000 |
15,008,000 |
1,227,000 |
1,203,000 |
|
INTANGIBLE ASSETS |
|||||
|
Goodwill on consolidation |
18,860,000 |
19,663,000 |
24,160,000 |
25,290,000 |
36,133,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
18,860,000 |
19,663,000 |
24,160,000 |
25,290,000 |
36,133,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
132,866,000 |
112,583,000 |
130,786,000 |
416,295,000 |
433,595,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
26,337,000 |
29,543,000 |
23,688,000 |
83,162,000 |
164,075,000 |
|
Trade debtors |
29,907,000 |
33,133,000 |
30,744,000 |
40,322,000 |
41,062,000 |
|
Other debtors, deposits & prepayments |
7,765,000 |
11,710,000 |
6,495,000 |
7,485,000 |
28,474,000 |
|
Short term deposits |
1,599,000 |
585,000 |
- |
351,000 |
128,000 |
|
Deposits with financial institutions |
- |
- |
897,000 |
- |
- |
|
Amount due from associated companies |
- |
- |
516,000 |
- |
- |
|
Cash & bank balances |
25,206,000 |
22,622,000 |
7,872,000 |
9,258,000 |
14,080,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
90,814,000 |
97,593,000 |
70,212,000 |
140,578,000 |
247,819,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
223,680,000 |
210,176,000 |
200,998,000 |
556,873,000 |
681,414,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
11,687,000 |
13,532,000 |
12,974,000 |
25,687,000 |
26,911,000 |
|
Other creditors & accruals |
15,718,000 |
20,495,000 |
12,288,000 |
40,948,000 |
38,880,000 |
|
Hire purchase & lease creditors |
490,000 |
1,168,000 |
2,173,000 |
6,695,000 |
3,956,000 |
|
Bank overdraft |
2,067,000 |
7,533,000 |
6,096,000 |
27,743,000 |
39,297,000 |
|
Short term borrowings/Term loans |
1,510,000 |
2,939,000 |
3,363,000 |
195,022,000 |
46,904,000 |
|
Other borrowings |
- |
- |
- |
17,000,000 |
19,500,000 |
|
Bill & acceptances payable |
3,911,000 |
19,304,000 |
21,395,000 |
97,310,000 |
103,714,000 |
|
Provision for taxation |
2,424,000 |
2,763,000 |
1,740,000 |
1,723,000 |
1,912,000 |
|
Other liabilities |
- |
6,000,000 |
6,000,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
37,807,000 |
73,734,000 |
66,029,000 |
412,128,000 |
281,074,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
53,007,000 |
23,859,000 |
4,183,000 |
(271,550,000) |
(33,255,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
185,873,000 |
136,442,000 |
134,969,000 |
144,745,000 |
400,340,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
RESERVES |
|||||
|
Share premium |
90,000 |
90,000 |
90,000 |
90,000 |
90,000 |
|
Revaluation reserve |
31,995,000 |
11,029,000 |
11,672,000 |
20,640,000 |
20,671,000 |
|
Retained profit/(loss) carried forward |
47,036,000 |
19,459,000 |
12,350,000 |
5,268,000 |
59,220,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
79,121,000 |
30,578,000 |
24,112,000 |
25,998,000 |
79,981,000 |
|
MINORITY INTEREST |
4,680,000 |
4,485,000 |
5,180,000 |
24,429,000 |
39,035,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
160,009,000 |
111,271,000 |
105,500,000 |
126,635,000 |
195,224,000 |
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
3,926,000 |
5,547,000 |
8,912,000 |
5,465,000 |
171,287,000 |
|
Hire purchase creditors |
289,000 |
684,000 |
1,664,000 |
- |
7,204,000 |
|
Deferred taxation |
13,998,000 |
11,514,000 |
11,346,000 |
11,201,000 |
18,905,000 |
|
Retirement benefits provision |
1,584,000 |
1,385,000 |
1,199,000 |
1,444,000 |
1,208,000 |
|
Others |
6,067,000 |
6,041,000 |
6,348,000 |
- |
6,512,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
25,864,000 |
25,171,000 |
29,469,000 |
18,110,000 |
205,116,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
185,873,000 |
136,442,000 |
134,969,000 |
144,745,000 |
400,340,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
26,805,000 |
23,207,000 |
7,872,000 |
9,609,000 |
14,208,000 |
|
Net Liquid Funds |
20,827,000 |
(3,630,000) |
(19,619,000) |
(115,444,000) |
(128,803,000) |
|
Net Liquid Assets |
26,670,000 |
(5,684,000) |
(19,505,000) |
(354,712,000) |
(197,330,000) |
|
Net Current Assets/(Liabilities) |
53,007,000 |
23,859,000 |
4,183,000 |
(271,550,000) |
(33,255,000) |
|
Net Tangible Assets |
167,013,000 |
116,779,000 |
110,809,000 |
119,455,000 |
364,207,000 |
|
Net Monetary Assets |
806,000 |
(30,855,000) |
(48,974,000) |
(372,822,000) |
(402,446,000) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
12,193,000 |
37,175,000 |
43,603,000 |
349,235,000 |
391,862,000 |
|
Total Liabilities |
63,671,000 |
98,905,000 |
95,498,000 |
430,238,000 |
486,190,000 |
|
Total Assets |
223,680,000 |
210,176,000 |
200,998,000 |
556,873,000 |
681,414,000 |
|
Net Assets |
185,873,000 |
136,442,000 |
134,969,000 |
144,745,000 |
400,340,000 |
|
Net Assets Backing |
160,009,000 |
111,271,000 |
105,500,000 |
126,635,000 |
195,224,000 |
|
Shareholders' Funds |
160,009,000 |
111,271,000 |
105,500,000 |
126,635,000 |
195,224,000 |
|
Total Share Capital |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
Total Reserves |
79,121,000 |
30,578,000 |
24,112,000 |
25,998,000 |
79,981,000 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.71 |
0.31 |
0.12 |
0.02 |
0.05 |
|
Liquid Ratio |
1.71 |
0.92 |
0.70 |
0.14 |
0.30 |
|
Current Ratio |
2.40 |
1.32 |
1.06 |
0.34 |
0.88 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
56 |
65 |
56 |
83 |
241 |
|
Debtors Ratio |
63 |
73 |
73 |
40 |
60 |
|
Creditors Ratio |
25 |
30 |
31 |
26 |
40 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.08 |
0.33 |
0.41 |
2.76 |
2.01 |
|
Liabilities Ratio |
0.40 |
0.89 |
0.91 |
3.40 |
2.49 |
|
Times Interest Earned Ratio |
11.88 |
7.97 |
0.67 |
(4.58) |
0.68 |
|
Assets Backing Ratio |
2.19 |
1.53 |
1.45 |
1.57 |
4.78 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
14.94 |
13.50 |
(1.42) |
(26.75) |
(1.71) |
|
Net Profit Margin |
11.78 |
9.52 |
(3.94) |
(14.77) |
0.17 |
|
Return On Net Assets |
15.14 |
18.65 |
3.24 |
(55.38) |
2.27 |
|
Return On Capital Employed |
13.27 |
15.03 |
2.54 |
(35.02) |
1.75 |
|
Return On Shareholders' Funds/Equity |
12.70 |
14.09 |
(5.74) |
(42.60) |
0.21 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.55 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
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.