|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DELL GLOBAL BUSINESS CENTER SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 21.01, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, Level 21, 59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.01.2013 |
|
|
|
|
Date of Incorporation : |
28.07.2006 |
|
|
|
|
Com. Reg. No.: |
742481-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the global business support center. |
|
|
|
|
No. of Employees : |
Not Available |
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. |
: |
742481-H |
||||
|
COMPANY NAME |
: |
DELL GLOBAL BUSINESS CENTER SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/07/2006 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SUITE 21.01, THE GARDENS SOUTH TOWER, MID VALLEY CITY, LINGKARAN SYED
PUTRA, LEVEL 21, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
PLOT P27, BAYAN LEPAS INDUSTRIAL ZONE, PHASE IV, 11900 BAYAN LEPAS,
PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-6334888 |
||||
|
FAX.NO. |
: |
04-6330505 |
||||
|
WEB SITE |
: |
WWW.DELL.COM.MY |
||||
|
CONTACT PERSON |
: |
CHAN SOON TAT ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
62091 |
||||
|
PRINCIPAL ACTIVITY |
: |
GLOBAL BUSINESS SUPPORT CENTER |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 549,816,058 [2013] |
||||
|
NET WORTH |
: |
MYR 130,583,809 [2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
GOOD |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
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) global business
support center.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is DELL GLOBAL B. V, a
company incorporated in NETHERLANDS.
The ultimate holding company of the Subject is DELL INC.,, a company
incorporated in UNITED STATES.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
31/07/2012 |
MYR 500,000.00 |
MYR 500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DELL GLOBAL B. V |
TRANSFORMATORWEG 38-72, 1014 AK AMSTERDAM, NETHERLANDS. |
NL33238739 |
500,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
JANET BAWCOM WRIGHT |
|
Address |
: |
1314, SHANNON OAKS TRAIL, AUSTIN, TEXAS , 78746, UNITED STATES. |
|
IC / PP No |
: |
455939644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
30/04/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. CHAN SOON TAT |
|
Address |
: |
552-9-2, SKYHOME, JALAN TANJUNG BUNGAH, 11200 TANJONG TOKONG, PULAU
PINANG, MALAYSIA. |
|
IC / PP No |
: |
5112426 |
|
New IC No |
: |
570220-07-5819 |
|
Date of Birth |
: |
20/02/1957 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
16/03/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. GOH THENG LAI |
|
Address |
: |
2, LINTANG SUNGAI ARA 1, SUNGAI ARA, 11900 BAYAN LEPAS, PULAU PINANG,
MALAYSIA. |
|
IC / PP No |
: |
8213626 |
|
New IC No |
: |
560226-02-5493 |
|
Date of Birth |
: |
26/02/1956 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
20/08/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MR. LAWRENCE WONG YOW KHAN |
|
Address |
: |
163B-031C, PERSIARAN GURNEY, 10250 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A0899495 |
|
New IC No |
: |
680423-10-5093 |
|
Date of Birth |
: |
23/04/1968 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
30/07/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
CHAN SOON TAT |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
SHANKAR |
|
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
|
|
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
BANGUNAN KWSP, JALAN SULTAN AHMAD SHAH, P.O.BOX 856, 16TH FLOOR, 10810
PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MR. LIM POH SENG |
|
|
IC / PP No |
: |
A1846175 |
|
|
New IC No |
: |
710228-10-5519 |
|
|
Address |
: |
22, JALAN SS 3/22, 47300 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
|
No encumbrance was found in our databank at the time of investigation.
* 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 |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject does not have trade supplier as it is a service provider company.
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 |
: |
EUROPE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
INFORMATION TECHNOLOGY INDUSTRY |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services |
: |
VARIOUS OUTSOURCED SERVICES GLOBALLY INCLUDING INFORMATION TECHNOLOGY,
CUSTOMER CONTRACT CENTER SUPPORT, GLOBAL FINANCIAL SERVICES AND OTHER RELATED
SERVICES
|
|
|
|
|
|
|
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2012 |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
3678 |
3827 |
3388 |
3310 |
|
|
|
|
|
|
Branch |
: |
YES
|
Other Information:
The Subject is principally engaged in the (as a / as an) global business
support center.
The Subject acts a Global Business Support Centre to provide various outsourced
services to other Dell entitities globally.
The services includes Information Technology, customer contact centre support,
global financial services and other related services.
We were informed that the Subject is the Headquarters and it has another branch
based in Cyberjaya.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-6334888 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
PLOT P27, BAYAN LEPAS PENANG |
|
Current Address |
: |
PLOT P27, BAYAN LEPAS INDUSTRIAL ZONE, PHASE IV, 11900 BAYAN LEPAS,
PULAU PINANG, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 6th March 2014 we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees.
The address provided is incomplete.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.91% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.64% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. The Subject's management
had generated acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The favourable debtors' days could be due to the good credit
control measures implemented by the Subject. The Subject had a favourable
creditors' ratio where the Subject could be taking advantage of the cash
discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.97 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.97 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 |
[ |
41.16 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 had no gearing and
hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently
as its profit showed a downward trend. The Subject 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 was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
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 |
|
|
62091 : Information Communication Technology (ICT) system security |
|
|
|
|
|
INDUSTRY : |
INFORMATION TECHNOLOGY |
|
|
|
|
|
|
|
Malaysian IT spending is expected to reach US$5.6bn in 2013, up 7%, although
economic activity is expected to slow over the coming quarters. Demand for IT
products and services is forecast to stay resilient overall, even as economic
growth moderates. There should be several areas of opportunity, particularly
in key spending verticals such as telecoms, and a new government Digital
Malaysia Plan was unveiled in 2012. Spending on IT products and services
should be boosted by growing enterprise and government interest in cloud
computing, and ICT-friendly budget measures, but much will depend on
confidence in a sustainable economic recovery. |
|
|
|
|
|
Malaysia's Information Technology Industry is expected to continue
perform well in 2013, despite the possible constraints of the global economy.
This is especially in light of the global ICT industry forecast, which is
expected to grow by 3% in 2013 with global ICT spending estimated to reach
US$3.7 trillion, in spite of earlier estimation pegging global growth to only
be in the region of 2.5%. |
|
|
|
|
|
At the global level, demand for personal computers (PCs) remains weak
with declining orders notably from advanced economies. In addition, the
growing popularity of smartphones and media tablets has also affected the
sales of PCs despite the introduction of the Ultrabook, which provides better
mobile computing solutions. Consequently, output of the office, accounting
and machinery segment in Malaysia contracted further by 6.9% during the first
seven months of 2012. |
|
|
|
|
|
Moreover, the computer hardware sales had reach US$2.7billion in year
2012 and it expected to growth to US$2.9billion in year 2013. Where else, the
sales of software had reach US$876million in 2012 and it expected to continue
growth to US$952million in 2013. |
|
|
|
|
|
The IT services sales had reached US$1.6billion in 2012 and forcasted
to growth US$1.8billion in 2013. Moreover, in IT services, 83 companies were
granted the Multimedia Super Corridor Malaysia (MSC Malaysia) status with
total estimated investment of RM1,465.3 million and 7,891 employment
opportunities during the first eight months of 2012. The ICT industry in
Malaysia estimated to provide 50,000 total jobs and RM5.5billion investments
by 2015 since the ICT services sector is expected to continue to play a
crucial role in contributing to Malaysia’s aim of achieving high income
status by 2020. |
|
|
|
|
|
Government introduced lower interest rates and government import tax
exemptions for broadband equipment, including notebooks as a steps to increase
ICT market value. 2012 Malaysian PC sales supported by the government will
encourage to the greater broadband penetration. Besides, in 2012 the
government announced its latest Digital Malaysia Masterplan to drive the next
stageof development of Malaysia's ICT sector. The plan will propose a number
of measures to strengthen Malaysia's ICT ecosystem, including talent
development, as well as stimulatingdemand by consumers and businesses for ICT
products and services. Encouraging the creation ofmore local applications for
cloud computing is expected to be one focus of the Digital Malaysiaplan. The
government's plan to develop a national cloud computing programme should also
driveopportunities in this key emerging area for vendors. |
|
|
|
|
|
The rapid growth of digital information in Malaysia has been
inevitable with several national initiatives of the government, including the
Digital Malaysia programme which aims to advance our country towards a
developed digital economy by 2020. It is expected that the growth of digital
information will continue moving towards into 2013. While organisations in
the digital economy could leverage on the information they generate everyday
to better serve customers and increase productivity, the same information can
be a major liability if not properly protected and managed. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year
End |
2013-01-31 |
2012-01-31 |
2011-01-31 |
2010-01-31 |
2009-01-31 |
|
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 |
549,816,058 |
607,097,859 |
570,531,011 |
522,777,377 |
108,900,210 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
549,816,058 |
607,097,859 |
570,531,011 |
522,777,377 |
108,900,210 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
28,711,696 |
30,897,666 |
31,272,863 |
31,225,386 |
7,348,927 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
28,711,696 |
30,897,666 |
31,272,863 |
31,225,386 |
7,348,927 |
|
Taxation |
(103,499) |
(111,563) |
(57,225) |
(80,787) |
(65,147) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
28,608,197 |
30,786,103 |
31,215,638 |
31,144,599 |
7,283,780 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
1,045,492 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
1,045,492 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
130,083,809 |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
130,083,809 |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Others |
714,876 |
578,921 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
714,876 |
578,921 |
- |
- |
- |
|
|
============= |
============= |
|
|
|
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
45,755,004 |
53,224,802 |
84,626,872 |
116,428,999 |
128,283,238 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
45,755,004 |
53,224,802 |
84,626,872 |
116,428,999 |
128,283,238 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Trade debtors |
181,657 |
50,052 |
31,808 |
- |
- |
|
Other debtors, deposits & prepayments |
46,195,592 |
31,375,824 |
11,416,572 |
6,269,728 |
7,626,679 |
|
Short term deposits |
- |
11,898,442 |
- |
29,578,135 |
- |
|
Deposits with financial institutions |
- |
- |
10,825,605 |
- |
- |
|
Amount due from holding company |
76,752,643 |
162,777,692 |
- |
- |
- |
|
Amount due from related companies |
18,109,679 |
16,381,561 |
12,077,866 |
11,896,404 |
118,891 |
|
Cash & bank balances |
125,482,274 |
19,765,923 |
23,531,324 |
8,201,902 |
22,883,746 |
|
Others |
- |
50,870 |
116,952,646 |
56,450,936 |
43,912,886 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
266,721,845 |
242,300,364 |
174,835,821 |
112,397,105 |
74,542,202 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
312,476,849 |
295,525,166 |
259,462,693 |
228,826,104 |
202,825,440 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Other creditors & accruals |
58,720,068 |
72,546,767 |
78,265,891 |
66,295,993 |
54,023,209 |
|
Amounts owing to holding company |
75,062,653 |
12,000,933 |
- |
- |
- |
|
Amounts owing to related companies |
1,855,320 |
1,901,854 |
3,015,793 |
3,578,150 |
67,572,959 |
|
Provision for taxation |
5,499 |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
135,643,540 |
86,449,554 |
81,281,684 |
69,874,143 |
121,596,168 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
131,078,305 |
155,850,810 |
93,554,137 |
42,522,962 |
(47,053,966) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
176,833,309 |
209,075,612 |
178,181,009 |
158,951,961 |
81,229,272 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
130,083,809 |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
130,083,809 |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
130,583,809 |
101,975,612 |
71,189,509 |
39,973,871 |
8,829,272 |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Others |
46,249,500 |
107,100,000 |
106,991,500 |
118,978,090 |
72,400,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
46,249,500 |
107,100,000 |
106,991,500 |
118,978,090 |
72,400,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
176,833,309 |
209,075,612 |
178,181,009 |
158,951,961 |
81,229,272 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
125,482,274 |
31,664,365 |
23,531,324 |
37,780,037 |
22,883,746 |
|
Net Liquid Funds |
125,482,274 |
31,664,365 |
23,531,324 |
37,780,037 |
22,883,746 |
|
Net Liquid Assets |
131,078,305 |
155,850,810 |
93,554,137 |
42,522,962 |
(47,053,966) |
|
Net Current Assets/(Liabilities) |
131,078,305 |
155,850,810 |
93,554,137 |
42,522,962 |
(47,053,966) |
|
Net Tangible Assets |
176,833,309 |
209,075,612 |
178,181,009 |
158,951,961 |
81,229,272 |
|
Net Monetary Assets |
84,828,805 |
48,750,810 |
(13,437,363) |
(76,455,128) |
(119,453,966) |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
181,893,040 |
193,549,554 |
188,273,184 |
188,852,233 |
193,996,168 |
|
Total Assets |
312,476,849 |
295,525,166 |
259,462,693 |
228,826,104 |
202,825,440 |
|
Net Assets |
176,833,309 |
209,075,612 |
178,181,009 |
158,951,961 |
81,229,272 |
|
Net Assets Backing |
130,583,809 |
101,975,612 |
71,189,509 |
39,973,871 |
8,829,272 |
|
Shareholders' Funds |
130,583,809 |
101,975,612 |
71,189,509 |
39,973,871 |
8,829,272 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
130,083,809 |
101,475,612 |
70,689,509 |
39,473,871 |
8,329,272 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.93 |
0.37 |
0.29 |
0.54 |
0.19 |
|
Liquid Ratio |
1.97 |
2.80 |
2.15 |
1.61 |
0.61 |
|
Current Ratio |
1.97 |
2.80 |
2.15 |
1.61 |
0.61 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
0 |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
0 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
1.39 |
1.90 |
2.64 |
4.72 |
21.97 |
|
Times Interest Earned Ratio |
41.16 |
54.37 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
353.67 |
418.15 |
356.36 |
317.90 |
162.46 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
5.22 |
5.09 |
5.48 |
5.97 |
6.75 |
|
Net Profit Margin |
5.20 |
5.07 |
5.47 |
5.96 |
6.69 |
|
Return On Net Assets |
16.64 |
15.06 |
17.55 |
19.64 |
9.05 |
|
Return On Capital Employed |
16.64 |
15.06 |
17.55 |
19.64 |
9.05 |
|
Return On Shareholders' Funds/Equity |
21.91 |
30.19 |
43.85 |
77.91 |
82.50 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
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.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
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.