|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HERMING
MARKETING SDN. BHD. |
|
|
|
|
Registered Office : |
118-B, Jalan Ss 24/2, Taman Megah, 47301 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.08.2011 |
|
|
|
|
Com. Reg. No.: |
958629-V |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of textiles, clothing |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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. |
: |
958629-V |
|
COMPANY NAME |
: |
HERMING
MARKETING SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
25/08/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
118-B, JALAN SS 24/2, TAMAN MEGAH, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
HP.NO. |
: |
0122327768 |
|
CONTACT PERSON |
: |
COLLIN TAN CHIN YEW ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
46419 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF TEXTILES GOODS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 34,314,427 [2012] |
|
NET WORTH |
: |
MYR 109,018 [2012] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) trading of
textiles goods.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
15/02/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
26/08/2011 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. COLLIN TAN CHIN YEW + |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
901027-14-5305 |
50,000.00 |
50.00 |
|
MR. DAVID TAN CHIN WEE + |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
920808-14-6275 |
50,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. COLLIN TAN CHIN YEW |
|
Address |
: |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
901027-14-5305 |
|
Date of Birth |
: |
27/10/1990 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
08/09/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. DAVID TAN CHIN WEE |
|
Address |
: |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
920808-14-6275 |
|
Date of Birth |
: |
08/08/1992 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
08/09/2011 |
|
1) |
Name of Subject |
: |
COLLIN TAN CHIN YEW |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
LIM THONG & ASSOCIATES |
|
Auditor' Address |
: |
SUITE B, 27B, JALAN SAUJANA INDAH 4,
SAUJANA INDAH INDUSTRIAL PARK, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. KOH PENG LIAN |
|
New IC No |
: |
791106-14-5667 |
|
|
Address |
: |
E-6-13, BLOCK E (ANGGERIK), PELANGI
DAMANSARA, PERSIARAN SURIAN, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank 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 refused to disclose its suppliers.
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 |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Goods Traded |
: |
TEXTILES GOODS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of textiles
goods.
The Subject refused to disclose its operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
0122327768 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
52 JALAN BJ 5 TAMAN PERINDUSTRIAN BELMAS
JOHAN 48000 RAWANG SELANGOR |
|
Current Address |
: |
52, JALAN BJ 5, TAMAN PERINDUSTRIAN BELMAS
JOHAN, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
On 20th May 2014 we contacted one of the Director Mr Tan at 0122327768.
However, he refused to disclose any information on the Subject.
He refused to disclose the Subject's fax number and number of employees.
The Subject can only be contacted via mobile at 012-2327768.
|
Profitability |
||||||
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
8.27% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
8.27% |
] |
|
|
The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
113 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
|
|
As the Subject is a service oriented
company, the Subject does not need to keep stocks. The Subject's debtors
ratio was high. The Subject should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.01 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.01 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it
did not pay any interest during the year. 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 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 did not make any interest payment during the
year. The Subject was dependent on its shareholders' funds to finance its
business needs. 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 : FAIR |
||||||
|
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 |
|
|
46419 : Wholesale of textiles, clothing
n.e.c. |
|
|
INDUSTRY : |
TRADING |
|
According to the Retail Group Malaysia
(RGM), the wholesale and retail trade sector forecast to grow to 6% in year
2013. During the first quarter of year 2013, RGM is estimating the retail
industry to grow 6.9%. Many retailers have been enjoying better sales since
the government handed out cash from mid-January of 2013 under the second
round of Bantuan Rakyat 1Malaysia to more than 12 million Malaysians.
Bookstores and related retail stores have also started enjoying rising sales
since the RM250 1Malaysia Book Voucher was distributed to 1.3 million private
and public university students. Besides, since early February 2013, handphone
traders and retailers selling smartphone accessories have started to benefit
from the RM200 rebate on smartphones for 1.5 million young adults aged
between 21 and 30 years with a monthly income of not more than RM3,000. |
|
|
The wholesale and retail trade sector grew
6.1% in the first half of the year 2012 driven by strong domestic consumption
and the increasing number of large format stores operating in Malaysia,
including 180 foreign hypermarkets, superstores and departmental stores as at
end of August 2012. In addition, other indicators such as imports of
consumption goods were higher by 15.2%. |
|
|
In 2012, the wholesale and retail trade
sector growth to 5.5% driven by higher consumption which benefited from
Government initiatives under the 2012 Budget such as BR1M, Baucar Buku
1Malaysia (BB1M) and the RM100 assistance for all primary and secondary
school students. The performance of the sector will also be supported by
ongoing efforts to modernise the retail segment under the ETP. In 2012, 500
retail shops and 50 workshops are targeted to be modernised under the Retail
Shop Transformation (TUKAR) and Automotive Workshop Modernisation (ATOM)
programmes, respectively. As at end of July 2012, 95 workshops have been
modernised, surpassing the yearly target, while 393 retail shops have been
modernised. |
|
|
Growth of the sector is anticipated to
remain encouraging with ongoing efforts by the Government to increase its
contribution to the economy. Major initiatives include increasing the number
of large format stores such as hypermarkets, superstores and departmental
stores are carried out to boost the economy. |
|
|
Over 60% of Gross Domestic Product (GDP)
is contributed by domestic consumption, therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
|
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
HERMING
MARKETING SDN. BHD. |
|
Financial Year End |
2012-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
MYR |
|
TURNOVER |
34,314,427 |
|
---------------- |
|
|
Total Turnover |
34,314,427 |
|
Costs of Goods Sold |
(33,711,348) |
|
---------------- |
|
|
Gross Profit |
603,079 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
9,018 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
9,018 |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
9,018 |
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
9,018 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,018 |
|
============= |
|
|
BALANCE SHEET |
|
HERMING MARKETING
SDN. BHD. |
|
Trade debtors |
10,643,460 |
|
Other debtors, deposits & prepayments |
81,000 |
|
Cash & bank balances |
69,184 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
10,793,644 |
|
---------------- |
|
|
TOTAL ASSET |
10,793,644 |
|
============= |
|
|
CURRENT
LIABILITIES |
|
|
Trade creditors |
6,044,795 |
|
Other creditors & accruals |
35,760 |
|
Amounts owing to director |
4,601,816 |
|
Provision for taxation |
2,255 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
10,684,626 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
109,018 |
|
---------------- |
|
|
TOTAL NET ASSETS |
109,018 |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
100,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
|
Retained profit/(loss) carried forward |
9,018 |
|
---------------- |
|
|
TOTAL RESERVES |
9,018 |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
109,018 |
|
---------------- |
|
|
109,018 |
|
|
============= |
|
|
FINANCIAL RATIO |
|
HERMING
MARKETING SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Cash |
69,184 |
|
Net Liquid Funds |
69,184 |
|
Net Liquid Assets |
109,018 |
|
Net Current Assets/(Liabilities) |
109,018 |
|
Net Tangible Assets |
109,018 |
|
Net Monetary Assets |
109,018 |
|
BALANCE SHEET
ITEMS |
|
|
Total Borrowings |
0 |
|
Total Liabilities |
10,684,626 |
|
Total Assets |
10,793,644 |
|
Net Assets |
109,018 |
|
Net Assets Backing |
109,018 |
|
Shareholders' Funds |
109,018 |
|
Total Share Capital |
100,000 |
|
Total Reserves |
9,018 |
|
LIQUIDITY
(Times) |
|
|
Cash Ratio |
0.01 |
|
Liquid Ratio |
1.01 |
|
Current Ratio |
1.01 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
Stock Ratio |
0 |
|
Debtors Ratio |
113 |
|
Creditors Ratio |
65 |
|
SOLVENCY RATIOS
(Times) |
|
|
Gearing Ratio |
0.00 |
|
Liabilities Ratio |
98.01 |
|
Times Interest Earned Ratio |
0.00 |
|
Assets Backing Ratio |
1.09 |
|
PERFORMANCE
RATIO (%) |
|
|
Operating Profit Margin |
0.03 |
|
Net Profit Margin |
0.03 |
|
Return On Net Assets |
8.27 |
|
Return On Capital Employed |
8.27 |
|
Return On Shareholders' Funds/Equity |
8.27 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
|
NOTES TO
ACCOUNTS |
|
|
Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.