|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BASF PETRONAS CHEMICALS SDN. BHD. |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Level
18, 59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
451307-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Chemical Products. |
|
|
|
|
No. of Employees : |
600 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister
NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and policy
measures intended to accelerate the country's economic growth. The government
has also taken steps to liberalize some services sub-sectors. The NAJIB
administration also is continuing efforts to boost domestic demand and reduce
the economy's dependence on exports. Nevertheless, exports - particularly of
electronics, oil and gas, palm oil and rubber - remain a significant driver of
the economy. As an oil and gas exporter, Malaysia has profited from higher
world energy prices, although the rising cost of domestic gasoline and diesel
fuel, combined with 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. |
: |
451307-K |
||||
|
COMPANY NAME |
: |
BASF PETRONAS
CHEMICALS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/10/1997 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY,
LINGKARAN SYED PUTRA, LEVEL 18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT
JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-78412200 |
||||
|
FAX.NO. |
: |
03-78466624 |
||||
|
WEB SITE |
: |
WWW.BASF-PETRONAS.COM.MY |
||||
|
CONTACT PERSON |
: |
WAN ZULKIFLEE BIN WAN ARIFFIN ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
20119 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF CHEMICAL PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 2,400,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 3,095,278,000 [2012] |
||||
|
NET WORTH |
: |
MYR 1,139,384,000 [2012] |
||||
|
M1000 OVERALL RANKING |
: |
199[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
8[2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
600 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
GOOD |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing
of chemical products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the Subject's ranking are
as follows: |
|
|||||
|
|
|
|
|
|
||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
199 |
114 |
109 |
179 |
278 |
|
|
INDUSTRY RANKING |
8 |
3 |
4 |
3 |
6 |
|
The immediate holding company of the Subject is BASF NEDERLAND B.V., a
company incorporated in NETHERLANDS.
The ultimate holding company of the Subject is BASF SE, a company
incorporated in GERMANY.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/05/2013 |
MYR 2,400,000,000.00 |
MYR 1,000,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BASF NEDERLAND B.V. |
GRONINGENSINGEL 1, 6835, EA ARNHEM, NETHERLANDS. |
09022883 |
600,000.00 |
60.00 |
|
PETRONAS CHEMICALS GROUP BERHAD |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR CITY CENTRE, 50088 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
400,000.00 |
40.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. WAN ZULKIFLEE BIN WAN ARIFFIN |
|
Address |
: |
69, WESTERN GARDEN, 10450 PULAU PINANG,
PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
5995503 |
|
New IC No |
: |
600819-07-5545 |
|
Date of Birth |
: |
19/08/1960 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/08/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. ABD HAPIZ BIN ABDULLAH |
|
Address |
: |
24, JALAN SERUNAI 2, TAMAN KLANG JAYA,
41200 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5485991 |
|
New IC No |
: |
581007-10-6261 |
|
Date of Birth |
: |
07/10/1958 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/06/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
DR PROFESSOR RAINER DIERCKS |
|
Address |
: |
PHILIPP-MELANCHTHON-STRABE 21, 67346 SPEYER,
GERMANY. |
|
IC / PP No |
: |
225206719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
24/02/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
DR TORSTEN PENKUHN |
|
Address |
: |
34, DAKOTA CRESCENT, 19-01, DAKOTA,
RESIDENCE, 399936, SINGAPORE. |
|
IC / PP No |
: |
C4KH5HP60 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
16/01/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 5
|
Name Of Subject |
: |
DR JOACHIM ALEXANDER QUEISSER |
|
Address |
: |
45, KIARA HILLS, 1, JALAN 32/70A, TAMAN
SRI HARTAMAS, 52480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
C5JCTJLJK |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
01/08/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 6
|
Name Of Subject |
: |
GOPALAN PILLAY |
|
Address |
: |
FLAT A, 33/F, TOWER 2, 23 OLD PEAK ROAD,
DYNASTY COURT, MID LEVELS, HONG KONG. |
|
IC / PP No |
: |
M00042411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SOUTH AFRICAN |
|
Date of Appointment |
: |
07/05/2013 |
|
1) |
Name of Subject |
: |
WAN ZULKIFLEE BIN WAN ARIFFIN |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
NORASHIKIN MOKHTAR |
|
|
Position |
: |
SENIOR FINANCE MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
VOLKER SEIDL |
|
|
Position |
: |
MARKETING DIRECTOR |
|
|
|
|
|
|
4) |
Name of Subject |
: |
SURAYA |
|
|
Position |
: |
ASSISTANT HUMAN RESOURCES DIRECTOR |
|
|
|
|
|
|
5) |
Name of Subject |
: |
ELIZABETH |
|
|
Position |
: |
CORPORATE COMMUNICATIONS MANAGER |
|
|
|
|
|
|
6) |
Name of Subject |
: |
JASON CHOI KAM HENG |
|
|
Position |
: |
MAINTENANCE MANAGER |
|
Auditor |
: |
KPMG DESA MEGAT & CO. |
|
Auditor' Address |
: |
KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA,
LEVEL 10, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. PATRICK TONG BING |
|
|
IC / PP No |
: |
K129290 |
|
|
New IC No |
: |
521211-13-5241 |
|
|
Address |
: |
4A, LANE 31, BROOKE DRIVE,, 96000 SIBU,
SARAWAK, MALAYSIA. |
Banking relations are maintained principally
with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank
again 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 |
: |
80% |
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
|
|
|
|
|
|
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 |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
||||
|
|
|
|
||||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS
(FMM) MALAYSIAN PLASTICS MANUFACTURERS
ASSOCIATION (MPMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF
COMMERCE AND INDUSTRY (MICCI) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
||||
|
|
|
|
||||
|
Ownership of premises |
: |
OWNED
|
||||
|
Factory / Premises |
: |
LOT 139,JALAN
GEBENG 2/1, KAWASAN PERINDUSTRIAN GEBENG,, 26080 KUANTAN, PAHANG, MALAYSIA.
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
600 |
600 |
610 |
900 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
chemical products.
The Subject is partners with BASF ASIA PACIFIC in Germany.
The Subject is a well-known name in the chemical industry and it produces and
markets a wide range of essential chemical products.
The Subject owns a world-class integrated Chemical site in Gebeng, Pahang. It
has an annual production output of approximately 1 million metric tonnes, which
makes the site one of the largest integrated chemical sites in the Asia-Pacific
region.
This 'verbund' (integrated) chemical production facility sited in Gebeng,
Kuantan, Pahang Darul Makmur is the first such facility for BASF in the Asia
Pacific, manufacturing acrylic, oxo-products and butanediol.
The Subject's plants can be categorised into:
1) Plant 1 - Acrylic O Complex
2) Plant 2 - OXO Complex
3) Plant 3 - BDO Complex
The Subject processes and refines petrochemical products and the end products
are raw materials and ingredients for general purposes.
The Subject's product is Petrochemicals which is ethylene and propylene ( for
plastic products),oxygenated, halogen-free are essential to the production of
many pharmaceutical, paints and cosmetic products.
The end-products are among others plastics, adhesives, paints, lacquers, paper,
diapers, automobile and industrial coatings, pharmaceuticals, fine chemicals,
textiles, leather and personal care materials.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality products.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78412200 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT
JELUTONG,40150,SHAH ALAM,SELANGOR. |
|
Current Address |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT
JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2008 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2008 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
55.12% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
70.15% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce
competition among the existing and new market players.The Subject's profit
fell sharply because of the high operating costs incurred. Generally the
Subject was profitable. The favourable return on shareholders' funds and
return on net assets indicate that the Subject's management was efficient in
utilising the assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
65 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. 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 |
[ |
3.27 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.28 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 |
[ |
238.68 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.02 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 : |
|
|
|
|
|
|
|
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 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 |
|
|
20119 : Manufacture of other basic chemicals
n.e.c. |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The Manufacturing sector is one of the
important sectors to the growth of the Malaysian economy. According to
Ministry of Finance, the manufacturing sector is expected to grow 4.9% in year
2013. Export oriented-industries are expected to benefit from the higher
growth of global trade, while domesticoriented industries expand in line with
the better consumer sentiment and business confidence. The resource-based
industries are envisaged to grow steadily attributed to improved demand for
petroleum, chemical, rubber and plastic products. With better job prospects
and higher disposable income, the transportation equipment subsector, in
particular, the passenger car segment is expected to expand. |
|
|
|
|
|
Value-added of the manufacturing sector
expanded 5% during the first half of 2012. Output of the sector rose 5.2%
during the first sevenmonths of 2012 in line with the increase in sales value
of manufactured products by 6.5% to RM363.1 billion. Output from
domesticoriented industries continued to expand 8.6% while export-oriented
industries grew 4.1%. |
|
|
|
|
|
According to the Department of Statistics,
the sales value of the Manufacturing sector in January 2013 posted a growth
of 7.4% (RM3.6 billion) to record RM52.4 billion as compared to RM48.8
billion reported in year 2012. Meanwhile, month-on-month basis, the sales
value has decreased by 0.4% (RM0.2 billion) as compared with the preceding month.
The sales value in December 2012 has been revised positive 7.5% year-on-year
to record RM52.6 billion. |
|
|
|
|
|
Output of rubber products increased 3.6%
in the first seven month of 2012 mainly supported by continuous demand for rubber
gloves. Output of rubber gloves grew 5.9% on account of the expansion in the
global healthcare industry and wider usage of gloves in other sectors.
Similarly, output of catheters, especially for use in medical appliances,
also registered a strong growth of 12.6%. Nevertheless, production of rubber
tyres and tubes reduced 10.9% in tandem with slowing external demand from the
automotive industry, especially China. |
|
|
|
|
|
Meanwhile, production of wood and wood
products rebounded 4.6% largely supported by higher demand for wooden and
cane furniture (33.5%). The positive performance was attributed to vibrant
higher demand from major export destinations such as China and the United
States (US) for Malaysian-made furniture. Demand from China accelerated further
following the country’s rising income level and the implementation of zero
import duty on Malaysian made-furniture. Malaysia government has growth
target of 6.5% for wood based furniture where estimated to reach up to RM53
billion by year 2020.The government providing pioneer status for tax
exemption and investment tax allowance for this industry as a boost up step
towards produce good quality product and to meet the world demand. |
|
|
|
|
|
The output of chemicals and chemical
products rose 9.9% in the first seven month of year 2012 on account of
increasing demand for plastic products (11.8%) and basic chemicals (11.1%).
External demand for plastic packaging materials surged during the early part
of the year 2012, particularly from Japan and Thailand, as manufacturers
resumed operations, which were interrupted by natural calamities and power
outages. Chemical production are expected to show 7.5 % in year 2013 inline
with Malaysia as one of the largest contributor in world Chemicals &
Chemical industries. |
|
|
|
|
|
Tax and non-tax incentives provided by
goverment encourage manufacturers to move up the value chain of manufacturing
industry. The new growth initiatives by goverment in the manufacturing sector
such assolar and medial services can be important drivers of growth apart
from helping to diversify the manufacturing base and contributing to the
resilience of the sector. |
|
|
|
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
Incorporated in 1997, the Subject is a Private Limited company, focusing
on manufacturing of chemical products. With its long establishment in the
market, the Subject has received strong support from its stable customers base.
Its business position in the market is quite stable and it is expected to enjoy
better market shares over its rivals. Having strong support from its
shareholder has enabled the Subject to remain competitive despite the
challenging business environment. The Subject is a large entity with strong
capital position. We are confident with the Subject's business and its future
growth prospect.
Over the years, the Subject has established an extensive clientele base in the market.
Besides catering to the local market, the Subject has penetrated into other
countries. With the contribution of both local and overseas customers, the
Subject is likely to be exposed to lower commercial risk. Hence, we believe
that the Subject has better business expansion opportunities in the future.
Being a large entity, the Subject has a steady workforce of 600 personnel to
support its business operations. Its future prospects seem to be fairly good as
its business operations are running relatively stable. The Subject has a good
management capability. Its capable management team has enabled the Subject to
keep its business on going. Hence, the future prospect of the Subject is
bright.
The Subject's business performance showed a reverse trend as both its turnover
and pre-tax profit have decreased compared to the previous year. However, the
Subject has generated a favourable return based on its existing shareholders'
funds which indicated that the management was efficient in utilising its funds
to generate income. The Subject is in good liquidity position with its current
liabilities well covered by it current assets. Hence, it has sufficient working
capital to meet its short term financial obligations. Being a lowly geared
company, the Subject is exposed to low financial risk as it is mainly dependent
on its internal funds to finance its business needs. Given a positive net worth
standing at MYR 1,139,384,000, the Subject should be able to maintain its
business in the near terms.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the Subject
has a good control over its resources.
We regard that the Subject's overall payment habit is prompt. The Subject had a
favourable creditors' ratio as evidenced by its favourable collection days.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the Subject is expected to benefit from the favourable
outlook of the industry.
In view of the above favourable condition, we recommend credit be proceeded to
the Subject with favourable term.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
BASF PETRONAS
CHEMICALS SDN. BHD. |
|
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 |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
2,441,060,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
2,441,060,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
(209,049,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
(209,049,000) |
|
Taxation |
(176,085,000) |
(196,161,000) |
24,239,000 |
(2,621,000) |
67,321,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
627,977,000 |
1,000,811,000 |
1,318,640,000 |
235,161,000 |
(141,728,000) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
255,978,000 |
|
Prior year adjustment |
- |
- |
- |
22,465,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
417,327,000 |
666,516,000 |
361,876,000 |
136,715,000 |
255,978,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,045,304,000 |
1,667,327,000 |
1,680,516,000 |
371,876,000 |
114,250,000 |
|
TRANSFER TO RESERVES - Statutory |
- |
- |
- |
(10,000,000) |
- |
|
TRANSFER TO RESERVES - General |
- |
- |
(4,000,000) |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
(650,000,000) |
(1,250,000,000) |
(1,010,000,000) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
Lease interest |
3,380,000 |
2,947,000 |
- |
- |
- |
|
Others |
3,000 |
5,000 |
5,000 |
4,000 |
4,525,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,383,000 |
2,952,000 |
5,000 |
4,000 |
4,525,000 |
|
|
============= |
============= |
============= |
============= |
============= |
BASF PETRONAS CHEMICALS SDN. BHD.
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
442,923,000 |
533,463,000 |
485,844,000 |
730,936,000 |
1,047,686,000 |
|
|
|
|
|
|
|
|
Deferred assets |
20,258,000 |
32,612,000 |
26,254,000 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
20,258,000 |
32,612,000 |
26,254,000 |
- |
- |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
463,181,000 |
566,075,000 |
512,098,000 |
730,936,000 |
1,047,686,000 |
|
|
|
|
|
|
|
|
Stocks |
211,972,000 |
180,323,000 |
166,595,000 |
132,345,000 |
148,114,000 |
|
Trade debtors |
550,000,000 |
495,733,000 |
319,348,000 |
177,847,000 |
128,039,000 |
|
Other debtors, deposits & prepayments |
4,906,000 |
7,121,000 |
10,672,000 |
11,745,000 |
61,695,000 |
|
Short term deposits |
114,631,000 |
215,640,000 |
255,643,000 |
365,103,000 |
477,764,000 |
|
Amount due from related companies |
2,442,000 |
2,971,000 |
397,421,000 |
216,504,000 |
158,295,000 |
|
Cash & bank balances |
13,019,000 |
725,000 |
13,425,000 |
5,023,000 |
4,055,000 |
|
Others |
274,000 |
- |
13,000 |
8,264,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
897,244,000 |
902,513,000 |
1,163,117,000 |
916,831,000 |
977,962,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
2,025,648,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Trade creditors |
108,622,000 |
114,936,000 |
23,415,000 |
7,144,000 |
11,906,000 |
|
Other creditors & accruals |
77,085,000 |
63,740,000 |
83,173,000 |
57,447,000 |
101,017,000 |
|
Hire purchase & lease creditors |
7,138,000 |
8,160,000 |
- |
- |
- |
|
Amounts owing to holding company |
4,867,000 |
2,488,000 |
3,794,000 |
- |
15,288,000 |
|
Amounts owing to related companies |
474,000 |
5,511,000 |
4,122,000 |
8,558,000 |
6,372,000 |
|
Provision for taxation |
3,961,000 |
24,105,000 |
1,497,000 |
1,672,000 |
1,597,000 |
|
Other liabilities |
7,302,000 |
21,310,000 |
153,949,000 |
117,587,000 |
48,464,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
209,449,000 |
240,250,000 |
269,950,000 |
192,408,000 |
184,644,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
793,318,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Share premium |
- |
- |
- |
196,000,000 |
686,000,000 |
|
Exchange equalisation/fluctuation reserve |
(269,920,000) |
(221,114,000) |
(275,251,000) |
(116,517,000) |
- |
|
Retained profit/(loss) carried forward |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
|
Capital redemption reserve |
14,000,000 |
14,000,000 |
14,000,000 |
10,000,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
800,250,000 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
|
|
|
|
|
|
|
Lease obligations |
11,592,000 |
18,125,000 |
- |
- |
- |
|
Deferred taxation |
- |
- |
- |
- |
26,754,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
11,592,000 |
18,125,000 |
- |
- |
26,754,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
BASF PETRONAS
CHEMICALS SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
481,819,000 |
|
Net Liquid Funds |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
481,819,000 |
|
Net Liquid Assets |
475,823,000 |
481,940,000 |
726,572,000 |
592,078,000 |
645,204,000 |
|
Net Current Assets/(Liabilities) |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
793,318,000 |
|
Net Tangible Assets |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
Net Monetary Assets |
464,231,000 |
463,815,000 |
726,572,000 |
592,078,000 |
618,450,000 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
|
|
Total Borrowings |
18,730,000 |
26,285,000 |
0 |
0 |
0 |
|
Total Liabilities |
221,041,000 |
258,375,000 |
269,950,000 |
192,408,000 |
211,398,000 |
|
Total Assets |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
2,025,648,000 |
|
Net Assets |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
1,841,004,000 |
|
Net Assets Backing |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
Shareholders' Funds |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
1,814,250,000 |
|
Total Share Capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
1,014,000,000 |
|
Total Reserves |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
800,250,000 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
|
Cash Ratio |
0.61 |
0.90 |
1.00 |
1.92 |
2.61 |
|
Liquid Ratio |
3.27 |
3.01 |
3.69 |
4.08 |
4.49 |
|
Current Ratio |
4.28 |
3.76 |
4.31 |
4.77 |
5.30 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
25 |
19 |
18 |
25 |
22 |
|
Debtors Ratio |
65 |
52 |
34 |
33 |
19 |
|
Creditors Ratio |
13 |
12 |
2 |
1 |
2 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
|
|
|
Gearing Ratio |
0.02 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.19 |
0.21 |
0.19 |
0.13 |
0.12 |
|
Times Interest Earned Ratio |
238.68 |
406.48 |
258,881.20 |
59,446.50 |
(45.20) |
|
Assets Backing Ratio |
1.15 |
1.23 |
1.41 |
1.45 |
1.82 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
25.98 |
34.66 |
37.76 |
12.21 |
(8.56) |
|
Net Profit Margin |
20.29 |
28.98 |
38.47 |
12.07 |
(5.81) |
|
Return On Net Assets |
70.15 |
97.69 |
92.11 |
16.34 |
(11.11) |
|
Return On Capital Employed |
69.72 |
97.04 |
92.11 |
16.34 |
(11.11) |
|
Return On Shareholders' Funds/Equity |
55.12 |
82.70 |
93.84 |
16.16 |
(7.81) |
|
Dividend Pay Out Ratio (Times) |
1.04 |
1.25 |
0.77 |
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.