|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FELDA MARKETING SERVICES SDN. BHD. |
|
|
|
|
Registered Office : |
Menara Felda, Platinum Park, 11, Persiaran KLCC, Level 42, 50088 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.08.1995 |
|
|
|
|
Com. Reg. No.: |
353807-M |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the Trading of Palm Oil Products, Commodity
Products |
|
|
|
|
No. of Employees : |
70 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister
NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and
policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with sustained budget deficits, has forced
Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions
in energy and sugar subsidies and the announcement of the 2015 implementation
of a 6% goods and services tax. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies
about 32% of government revenue in 2013. Bank Negara Malaysia (central bank)
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia's exposure to riskier financial instruments and the
global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall
in commodity prices or a general slowdown in global economic activity because
exports are a major component of GDP. In order to attract increased investment,
NAJIB earlier raised possible revisions to the special economic and social
preferences accorded to ethnic Malays under the New Economic Policy of 1970,
but retreated in 2013 after he encountered significant opposition from Malay
nationalists and other vested interests. In September 2013 NAJIB launched the
new Bumiputra Economic Empowerment Program (BEEP), policies that favor and
advance the economic condition of ethnic Malays.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
353807-M |
||||
|
COMPANY NAME |
: |
FELDA MARKETING SERVICES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
03/08/1995 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
MENARA FELDA, PLATINUM PARK, 11, PERSIARAN KLCC, LEVEL 42, 50088 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
TINGKAT 5, BALAI FELDA, JALAN GURNEY SATU, 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-26005888 |
||||
|
FAX.NO. |
: |
03-26946441 |
||||
|
WEB SITE |
: |
WWW.FELDA.NET.MY |
||||
|
CONTACT PERSON |
: |
FAKHRUNNIAN OTHMAN ( CEO ) |
||||
|
INDUSTRY CODE |
: |
46202 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL PRODUCTS, COMMODITY PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 17,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 426,943,394 [2012] |
||||
|
NET WORTH |
: |
MYR 210,490,614 [2012] |
||||
|
STAFF STRENGTH |
: |
70 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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 products, commodity products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is FELDA PALM INDUSTRIES
SDN BHD, a company incorporated in MALAYSIA.
The penultimate holding company of the Subject is FELDA HOLDINGS BERHAD,
a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
12/06/2013 |
MYR 25,000,000.00 |
MYR 17,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FELDA PALM INDUSTRIES SDN BHD |
MENARA FELDA, PLATINUM PARK, 11, PERSIARAN KLCC, JALAN GURNEY SATU,
LEVEL 42, 54000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
359584V |
8,670,000.00 |
51.00 |
|
KOPERASI PERMODALAN FELDA MALAYSIA BERHAD |
BANGUNAN BLOK J, ANJUNG FELDA, JALAN MAKTAB, 54000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
KOOP NEGARA 39 |
8,330,000.00 |
49.00 |
|
--------------- |
------ |
|||
|
17,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. MOHD EMIR MAVANI BIN ABDULLAH |
|
Address |
: |
32,JALAN PUNCAK, SETIAWANGSA 3, TAMAN SETIAWANGSA, 54200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
7173861 |
|
New IC No |
: |
631015-04-5377 |
|
Date of Birth |
: |
15/10/1963 |
|
Nationality |
: |
MALAYSIAN INDIAN |
|
Date of Appointment |
: |
01/02/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. AHMAD TIFLI BIN MOHD TALHA |
|
Address |
: |
NO.9, JALAN PUALAM TIGA 7/32C, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
New IC No |
: |
650627-10-6437 |
|
Date of Birth |
: |
27/06/1965 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/09/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. FAIZOULL BIN AHMAD |
|
Address |
: |
NO. 54, KUALA TERENGGANU GOLF RESORT, JALAN TOK JEMBAL, 21300 KUALA
TERENGGANU, TERENGGANU, MALAYSIA. |
|
New IC No |
: |
600507-05-5423 |
|
Date of Birth |
: |
07/05/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/09/2012 |
DIRECTOR 4
|
Name Of Subject |
: |
TUAN HJ MEGAT DZIAUDDIN BIN MEGAT MAHMUD |
|
Address |
: |
NO.64, LENGKOK ZAABA, TAMAN TUN DR. ISMAIL, 60000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
1697459 |
|
New IC No |
: |
460203-08-5057 |
|
Date of Birth |
: |
03/02/1946 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/02/2006 |
|
Qualification |
: |
HE IS AN ECONOMICS GRADUATE OF THE QUEENS UNIVERSITY OF BELFAST |
|
Profile |
: |
HE IS ALSO A BOARD MEMBER OF SEVERAL OF THE GROUP SUBSIDIARIES HE HAD PREVIOUSLY
SERVED AS A TREASURY ACCOUNTANT IN THE ACCOUNTANT GENERAL'S DEPARTMENT,
FINANCE MANAGER WITH THE BANK SIMPANAN NASIONAL & GENERAL MANAGER
INVESTMENT WITH ARAB-MALAYSIAN MERCHANT BANK BHD |
|
Other Info |
: |
HE FELLOW OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN IRELAND & A
REGISTERED ACCOUNTANT WITH THE MALAYSIAN INSTITUTE OF ACCOUNTANTS |
DIRECTOR 5
|
Name Of Subject |
: |
MR. LIM THEAN SHIANG |
|
Address |
: |
A-2-6, LEVEL 4, BLOCK A, MENARA UNCANG EMAS, NO. 85, JALAN LOKE YEW, 55200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
710525-07-5803 |
|
Date of Birth |
: |
25/05/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/02/2013 |
DIRECTOR 6
|
Name Of Subject |
: |
MR. TAN SRI HAJI MOHD ISA BIN DATO' HAJI ABDUL SAMAD |
|
Address |
: |
PT 41191,JALAN BBN 8/78, NILAI SPRING VILLAS, 71900 LABU, NEGERI
SEMBILAN, MALAYSIA. |
|
New IC No |
: |
491114-04-5151 |
|
Date of Birth |
: |
14/11/1949 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/08/2013 |
|
1) |
Name of Subject |
: |
FAKHRUNNIAN OTHMAN |
|
Position |
: |
CEO |
|
|
2) |
Name of Subject |
: |
SITI AISHAH ABD RAHMAN |
|
Position |
: |
FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
MOHD IDRIS ISMAIL |
|
Position |
: |
GENERAL MANAGER |
|
|
4) |
Name of Subject |
: |
HIDAYAH |
|
Position |
: |
EXECUTIVE HUMAN RESOURCE |
|
|
5) |
Name of Subject |
: |
MOHD GHAZALI ISMAIL |
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
1 SENTRAL, JALAN TRAVERS, KUALA LUMPUR SENTRAL, P.O. BOX 10192, LEVEL 10,
50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. SHAHNIZA ANOM BINTI ELIAS |
|
New IC No |
: |
680929-01-5802 |
|
|
Address |
: |
NO. 26, JALAN UNGU U9/35, SUNWAY KAYANGAN, SEKSYEN U9, 40150 SHAH
ALAM, SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
11/09/1997 |
N/A |
FEDERAL LAND DEVELOPMENT AUTHORITY |
MYR 29,000,000.00 |
Satisfied |
|
2 |
30/06/1998 |
N/A |
FEDERAL LAND DEVELOPMENT AUTHORITY |
MYR 12,000,000.00 |
Satisfied |
|
3 |
09/04/2001 |
N/A |
FEDERAL LAND DEVELOPMENT AUTHORITY |
MYR 12,000,000.00 |
Satisfied |
|
4 |
09/04/2001 |
N/A |
FEDERAL LAND DEVELOPMENT AUTHORITY |
MYR 29,000,000.00 |
Satisfied |
|
5 |
09/05/2013 |
N/A |
MAYBANK ISLAMIC BERHAD |
MYR 100,000,000.00 |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
|||||
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Overseas |
: |
NO |
Percentage |
: |
0% |
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 |
Percentage |
: |
50% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
AGRICULTURE INDUSTRIES |
|||
|
Goods Traded |
: |
PALM OIL PRODUCTS, COMMODITY PRODUCTS |
|||||
|
Award |
: |
1 ) MS ISO 9001 : 2000 Year :2003 |
|||||
|
Competitor(s) |
: |
AMBROSIA SDN BHD |
|||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
70 |
60 |
60 |
60 |
66 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of palm oil
products, commodity products.
We were informed that the subject acts as the marketing arm of the Felda Group of
Companies.
The subject involved in the sales of palm products and trades in physicals and
paper futures.
It offers a wide range of products includes as follows:
* Crude Palm Oil
* Crude Palm Olein
* RBD Palm Oil
* RBD Palm Olein
* RBD Palm Stearin
* Palm Fatty Acid Distillate
* Crude Palm Kernel Oil
* RBD Palm Kernel Oil
* Palm Kernels
* Palm Kernels Expeller
Oct 3, 2013
Felda Seeking Land Acquisitions With $814 Million Left From IPO
Felda Global Ventures Bhd. (FGV), the world’s third-largest manager of oil palm
plantations, may buy land in Southeast Asia and expand into Africa with 2.6
billion ringgit ($814 million) remaining from its share sale.
The Malaysian planter, which completed the world’s third-largest initial public
offering in 2012 at $3.3 billion, is seeking land in Indonesia, Cambodia and
Myanmar, Chief Executive Officer Mohd Emir Mavani Abdullah told reporters in
Kuala Lumpur today. The company also exploring palm oil operations in Africa,
he said.
Malaysia has reached the limit of area it can use for oil palm cultivation,
spurring planters to either seek local takeovers or land abroad to grow their
portfolios. Felda used IPO proceeds to complete the 1.2 billion ringgit
takeover of Pontian United Plantations Bhd. this week, while local competitor
IOI Corp. yesterday made a bid for Unico-Desa Plantations Bhd. (UDP)
“Felda is keen to expand into the Asean region, including land acquisitions in
Myanmar and Cambodia,” Mohd Emir said, referring to Southeast Asia. It is also
looking for “green field lands in Indonesia as the currency is down and it’s a
good time to buy.”
The rupiah has fallen 13 percent this year against the dollar, the most among
11 most-traded Asia Pacific currencies tracked by Bloomberg.
The Pontian acquisition boosted Felda’s land-bank by four percent, adding
40,000 acres, Mohd Isa Abdul Samad, Felda’s non-executive chairman, told
reporters in Kuala Lumpur today.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-26005888 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
BALAI FELDA JALAN GUARNEY 54000 KUALA LUMPUR MALAYSIA 1350 |
|
Current Address |
: |
TINGKAT 5, BALAI FELDA, JALAN GURNEY SATU, 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 29th April 2014, we have contacted one of the staff from the subject and she
provided some information.
The address provided does not belong to the Subject.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.34% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
13.45% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's management have been efficient
in controlling its operating costs. 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 |
[ |
42 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
1 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 |
[ |
1.86 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.86 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 |
: |
Acceptable |
[ |
9.09 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.47 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. The Subject was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the Subject should be able to repay its
short term obligations. The Subject had an acceptable interest cover. If
there is no sudden sharp increase in interest rate or fall in the Subject's
profit, we do believe the Subject is able to generate sufficient cash flow to
service its interest payment. 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 : STABLE |
||||||
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year
End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
426,943,394 |
681,786,184 |
537,532,265 |
395,302,384 |
182,972,168 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
426,943,394 |
681,786,184 |
537,532,265 |
395,302,384 |
182,972,168 |
|
Costs of Goods Sold |
(397,350,007) |
(652,495,952) |
(506,374,301) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
29,593,387 |
29,290,232 |
31,157,964 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
25,215,963 |
24,474,211 |
78,081,873 |
16,025,658 |
6,594,708 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
25,215,963 |
24,474,211 |
78,081,873 |
16,025,658 |
6,594,708 |
|
Taxation |
(1,339,078) |
(6,388,475) |
(4,261,932) |
(6,673,066) |
(4,631,552) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
23,876,885 |
18,085,736 |
73,819,941 |
9,352,592 |
1,963,156 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
129,620,604 |
116,668,955 |
63,093,405 |
60,115,813 |
89,772,657 |
|
Prior year adjustment |
(7,263) |
(34,087) |
(7,463,625) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
129,613,341 |
116,634,868 |
55,629,780 |
60,115,813 |
89,772,657 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
153,490,226 |
134,720,604 |
129,449,721 |
69,468,405 |
91,735,813 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(6,375,000) |
(5,100,000) |
(12,780,766) |
(6,375,000) |
(31,620,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
147,115,226 |
129,620,604 |
116,668,955 |
63,093,405 |
60,115,813 |
|
============= |
============= |
============= |
============= |
============= |
|
|
Term loan / Borrowing |
3,118,786 |
5,702,007 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,118,786 |
5,702,007 |
- |
- |
- |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,128,300 |
1,155,747 |
744,132 |
765,821 |
1,266,481 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
- |
- |
- |
- |
5,577,956 |
|
Associated companies |
20,000 |
20,000 |
20,000 |
29,020,442 |
29,020,442 |
|
Investment properties |
3,464,700 |
829,320 |
878,934 |
928,547 |
4 |
|
Deferred assets |
516,970 |
- |
881,340 |
1,132,706 |
1,867,703 |
|
Others |
111,540,841 |
95,198,041 |
90,203,320 |
2,925,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
115,542,511 |
96,047,361 |
91,983,594 |
34,006,695 |
36,466,105 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
116,670,811 |
97,203,108 |
92,727,726 |
34,772,516 |
37,732,586 |
|
Short term quoted/unquoted investments |
- |
- |
- |
- |
14,300 |
|
Stocks |
- |
- |
- |
31,813,597 |
8,391,290 |
|
Trade debtors |
48,559,332 |
169,060,158 |
111,313,782 |
66,965,214 |
135,765,152 |
|
Other debtors, deposits & prepayments |
4,130,882 |
969,593 |
12,359,509 |
15,275,625 |
393,792 |
|
Short term deposits |
106,932,488 |
57,882,464 |
36,463,288 |
71,750,110 |
47,352,208 |
|
Amount due from holding company |
30,117,603 |
30,617,385 |
6,151,489 |
4,869,460 |
4,351,954 |
|
Amount due from related companies |
4,108,852 |
5,253,990 |
4,532,801 |
39,928,640 |
5,607,610 |
|
Amount due from associated companies |
- |
2,410,074 |
3,158,000 |
- |
- |
|
Cash & bank balances |
1,980,122 |
3,795,950 |
20,952,911 |
27,394,607 |
5,265,771 |
|
Others |
7,437,091 |
2,253,489 |
- |
1,718,459 |
14,498,755 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
203,266,370 |
272,243,103 |
194,931,780 |
259,715,712 |
221,640,832 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
319,937,181 |
369,446,211 |
287,659,506 |
294,488,228 |
259,373,418 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
1,150,765 |
29,145,569 |
10,091,245 |
31,673,050 |
6,611,642 |
|
Other creditors & accruals |
5,157,330 |
5,698,240 |
4,055,848 |
13,521,619 |
10,126,722 |
|
Short term borrowings/Term loans |
99,702,502 |
147,134,575 |
104,114,084 |
134,331,537 |
112,584,000 |
|
Other liabilities & accruals |
- |
- |
5,719,950 |
- |
- |
|
Amounts owing to holding company |
2,167,500 |
3,789,370 |
- |
- |
- |
|
Amounts owing to related companies |
1,154,139 |
5,443,533 |
4,544,878 |
9,233,329 |
14,705,653 |
|
Dividends payable/proposed |
- |
- |
- |
- |
12,750,000 |
|
Other liabilities |
- |
1,062,679 |
324,786 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
109,332,236 |
192,273,966 |
128,850,791 |
188,759,535 |
156,778,017 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
93,934,134 |
79,969,137 |
66,080,989 |
70,956,177 |
64,862,815 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
210,604,945 |
177,172,245 |
158,808,715 |
105,728,693 |
102,595,401 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
|
RESERVES |
|||||
|
Share premium |
25,479,588 |
25,479,588 |
25,479,588 |
25,479,588 |
25,479,588 |
|
Retained profit/(loss) carried forward |
147,115,226 |
129,620,604 |
116,668,955 |
63,093,405 |
60,115,813 |
|
Others |
20,895,800 |
4,553,000 |
(441,721) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
193,490,614 |
159,653,192 |
141,706,822 |
88,572,993 |
85,595,401 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
210,490,614 |
176,653,192 |
158,706,822 |
105,572,993 |
102,595,401 |
|
Deferred taxation |
- |
404,031 |
- |
- |
- |
|
Retirement benefits provision |
114,331 |
115,022 |
- |
155,700 |
- |
|
Others |
- |
- |
101,893 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
114,331 |
519,053 |
101,893 |
155,700 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
210,604,945 |
177,172,245 |
158,808,715 |
105,728,693 |
102,595,401 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
Contingent Liabilities |
2,000,000 |
2,000,000 |
2,000,000 |
5,000,000 |
5,000,000 |
|
TYPES OF FUNDS |
|||||
|
Cash |
108,912,610 |
61,678,414 |
57,416,199 |
99,144,717 |
52,617,979 |
|
Net Liquid Funds |
108,912,610 |
61,678,414 |
57,416,199 |
99,144,717 |
52,617,979 |
|
Net Liquid Assets |
93,934,134 |
79,969,137 |
66,080,989 |
39,142,580 |
56,471,525 |
|
Net Current Assets/(Liabilities) |
93,934,134 |
79,969,137 |
66,080,989 |
70,956,177 |
64,862,815 |
|
Net Tangible Assets |
210,604,945 |
177,172,245 |
158,808,715 |
105,728,693 |
102,595,401 |
|
Net Monetary Assets |
93,819,803 |
79,450,084 |
65,979,096 |
38,986,880 |
56,471,525 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
99,702,502 |
147,134,575 |
104,114,084 |
134,331,537 |
112,584,000 |
|
Total Liabilities |
109,446,567 |
192,793,019 |
128,952,684 |
188,915,235 |
156,778,017 |
|
Total Assets |
319,937,181 |
369,446,211 |
287,659,506 |
294,488,228 |
259,373,418 |
|
Net Assets |
210,604,945 |
177,172,245 |
158,808,715 |
105,728,693 |
102,595,401 |
|
Net Assets Backing |
210,490,614 |
176,653,192 |
158,706,822 |
105,572,993 |
102,595,401 |
|
Shareholders' Funds |
210,490,614 |
176,653,192 |
158,706,822 |
105,572,993 |
102,595,401 |
|
Total Share Capital |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
17,000,000 |
|
Total Reserves |
193,490,614 |
159,653,192 |
141,706,822 |
88,572,993 |
85,595,401 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
1.00 |
0.32 |
0.45 |
0.53 |
0.34 |
|
Liquid Ratio |
1.86 |
1.42 |
1.51 |
1.21 |
1.36 |
|
Current Ratio |
1.86 |
1.42 |
1.51 |
1.38 |
1.41 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
29 |
17 |
|
Debtors Ratio |
42 |
91 |
76 |
62 |
271 |
|
Creditors Ratio |
1 |
16 |
7 |
29 |
13 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.47 |
0.83 |
0.66 |
1.27 |
1.10 |
|
Liabilities Ratio |
0.52 |
1.09 |
0.81 |
1.79 |
1.53 |
|
Times Interest Earned Ratio |
9.09 |
5.29 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
12.39 |
10.42 |
9.34 |
6.22 |
6.04 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
5.91 |
3.59 |
14.53 |
4.05 |
3.60 |
|
Net Profit Margin |
5.59 |
2.65 |
13.73 |
2.37 |
1.07 |
|
Return On Net Assets |
13.45 |
17.03 |
49.17 |
15.16 |
6.43 |
|
Return On Capital Employed |
13.45 |
17.03 |
49.17 |
15.16 |
6.43 |
|
Return On Shareholders' Funds/Equity |
11.34 |
10.24 |
46.51 |
8.86 |
1.91 |
|
Dividend Pay Out Ratio (Times) |
0.27 |
0.28 |
0.17 |
0.68 |
16.11 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
2,000,000 |
2,000,000 |
2,000,000 |
5,000,000 |
5,000,000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 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.