|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
V.R. PATEL SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 12-02, Menara Zurich, 170, Jalan Argyll, 12th Floor, 10050 Pulau Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
22.08.1975 |
|
|
|
|
Com. Reg. No.: |
24214-D |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Crude Coconut Oil, Desiccated Coconut Powder |
|
|
|
|
No. of Employees : |
5 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
24214-D |
||||
|
COMPANY NAME |
: |
V.R. PATEL SDN.
BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
22/08/1975 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
SUITE 12-02, MENARA ZURICH, 170, JALAN ARGYLL,
12TH FLOOR, 10050 PULAU PINANG, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
66A, PENANG STREET, 1ST FLOOR, ROOM 9,
10200 GEORGE TOWN, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-2628005 |
||||
|
FAX.NO. |
: |
04-2618436 |
||||
|
CONTACT PERSON |
: |
VIJAY PATEL ( CEO ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CRUDE COCONUT OIL, DESICCATED
COCONUT POWDER |
||||
|
AUTHORISED CAPITAL |
: |
MYR 250,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 151,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
5 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The Subject is an exempt private company which is allowed to have a minimum
of two and a maximum of twenty shareholders and all the shareholders must be
individuals. An exempt company is a type of private limited company. 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, suing or be sued by other companies. The Subject is governed by the
Companies Act, 1965 and must file in its annual return. The Subject need not
file in its financial statements but it has to file in a document duly signed
by its director in charge of its finance, the secretary and its auditor stating
that the Subject is able to meet all its obligations as and when they fall due.
Although the Subject is not required to file in its financial statements, it
also has to prepare its financial account which must be presented at the Annual
General Meeting.
The Subject is principally engaged in the (as a / as an) trading of
crude coconut oil, desiccated coconut powder.
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 250,000.00 |
MYR 151,000.00 |
The major shareholder(s) of the Subject are shown as follows:
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. VIJAY KUMAR A/L RAMANBHAI B.PATEL + |
3A-05, NOBLEVILLA, 220, MACALISTER ROAD,
10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
630303-07-5269 6956909 |
131.00 |
86.75 |
|
MS. SOBBHA D/O RAMANBHAI + |
3A-05, NOBLEVILLA, 220, MACALISTER ROAD,
10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
551123-07-5258 |
20.00 |
13.25 |
|
|
|
|
--------------- |
------ |
|
|
|
|
151.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. VIMLABEN A/P SHAKARLAL PATEL |
|
Address |
: |
3A-05, NOBLEVILLA, 220, MACALISTER ROAD,
10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
260604-71-5084 |
|
Date of Birth |
: |
04/06/1926 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/08/1975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MS. SOBBHA D/O RAMANBHAI |
|
Address |
: |
3A-05, NOBLEVILLA, 220, MACALISTER ROAD,
10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
551123-07-5258 |
|
Date of Birth |
: |
23/11/1955 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
16/08/1993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. VIJAY KUMAR A/L RAMANBHAI B.PATEL |
|
Address |
: |
3A-05, NOBLEVILLA, 220, MACALISTER ROAD,
10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
6956909 |
|
New IC No |
: |
630303-07-5269 |
|
Date of Birth |
: |
03/03/1963 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/07/1981 |
|
1) |
Name of Subject |
: |
VIJAY PATEL |
|
|
Position |
: |
CEO |
|
Auditor |
: |
DELOITTE KASSIMCHAN |
|
Auditor' Address |
: |
UPTOWN 1, 1, JALAN SS 21/58, DAMANSARA
UPTOWN, LEVEL 19, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. GUNN CHIT GEOK |
|
|
IC / PP No |
: |
3455868 |
|
|
New IC No |
: |
490915-07-5030 |
|
|
Address |
: |
23, PERSIARAN MIDLANDS, 10250 GEORGETOWN,
PULAU PINANG, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. CHEW SIEW CHENG |
|
|
IC / PP No |
: |
A2170032 |
|
|
New IC No |
: |
720405-07-5218 |
|
|
Address |
: |
1-V, LORONG DELIMA 17, ISLAND GLADES,
11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3) |
Company Secretary |
: |
MS. LIM YONG CHIAT |
|
|
|
|
|
|
|
New IC No |
: |
790702-02-5130 |
|
|
Address |
: |
1772-B, LORONG TIONG, 05200 ALOR SETAR,
KEDAH, 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
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 |
|
Overseas |
: |
YES |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
CRUDE COCONUT OIL, DESICCATED COCONUT
POWDER
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE) |
|
|
|
|
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2014 |
2010 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
5 |
5 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of crude
coconut oil, desiccated coconut powder.
The Subject supplies Tapioca Seeds, crude coconut oil, areca nuts, desiccated
coconut etc etc.
Besides this, the Subject also imports food products such as dried chilles,
spicies, dry fruits and others for its customers.
The Subject supplies the products according to its customers' requirements.
Latest fresh investigations carried out on the Subject indicated that:
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-2628005 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
A PENANG STREET, 1ST FLOOR, ROOM NO 9,
10200 PENNANG |
|
Current Address |
: |
66A, PENANG STREET, 1ST FLOOR, ROOM 9,
10200 GEORGE TOWN, PULAU PINANG, MALAYSIA. |
|
Match |
: |
NO |
|
|
|
|
|
Latest Financial Accounts |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
|
The Subject is a private exempt company which
does not need to file in its accounts with the Registrar of Companies for the
information of the public. Therefore, we are not able to comment on the
Subject's financial performance. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial
condition of the Subject : N/A |
||||||
|
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 |
|
|
46329 : Wholesale of other foodstuffs |
|
|
|
|
|
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 |
|
Incorporated in 1975, the Subject is an
Exempt Private company, focusing on trading of crude coconut oil, desiccated coconut
powder. The Subject has been in business for over two decades. It has built up
a strong clientele base and its reputation will enable the Subject to further
enhance its business in the near term. The Subject is expected to enjoy a
stable market shares.
Over the years, the Subject has penetrated into both the local and overseas
market. The Subject has positioned itself in the global market and is competing
in the industry. Its stable clientele base will enable the Subject to further
enhance its business in the near term. Being a small company, the Subject's
business operation is supported by 5 employees. Overall, we regard that the
Subject's management capability is average. This indicates that the Subject has
greater potential to improve its business performance and raising income for
the Subject.
As the Subject is registered as an Exempt Private company, it is not required
to file financial statements for public review. As such, we are unable to
ascertain its present financial health.
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.
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 unavailability of its latest financial, we only recommend credit be
proceeded to the Subject with guarantee.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
V.R. PATEL SDN.
BHD. |
|
Financial Year End |
2006-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
5,730,961 |
|
|
---------------- |
|
Total Turnover |
5,730,961 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
65,387 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
65,387 |
|
Taxation |
(19,995) |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
45,392 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
45,392 |
|
|
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
45,392 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
749,049 |
|
|
---------------- |
|
As restated |
749,049 |
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
794,441 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
794,441 |
|
|
============= |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
107,577 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
107,577 |
|
|
|
|
TOTAL CURRENT ASSETS |
864,260 |
|
|
---------------- |
|
TOTAL ASSET |
971,837 |
|
|
============= |
|
|
|
|
TOTAL CURRENT LIABILITIES |
23,396 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
840,864 |
|
|
---------------- |
|
TOTAL NET ASSETS |
948,441 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
151,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
151,000 |
|
|
|
|
Retained profit/(loss) carried forward |
794,441 |
|
|
---------------- |
|
TOTAL RESERVES |
794,441 |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
945,441 |
|
|
|
|
TOTAL LONG TERM LIABILITIES |
3,000 |
|
|
---------------- |
|
|
948,441 |
|
|
============= |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
840,864 |
|
Net Current Assets/(Liabilities) |
840,864 |
|
Net Tangible Assets |
948,441 |
|
Net Monetary Assets |
837,864 |
|
|
|
|
BALANCE SHEET ITEMS |
|
|
Total Liabilities |
26,396 |
|
Total Assets |
971,837 |
|
Net Assets |
948,441 |
|
Net Assets Backing |
945,441 |
|
Shareholders' Funds |
945,441 |
|
Total Share Capital |
151,000 |
|
Total Reserves |
794,441 |
|
|
|
|
LIQUIDITY
(Times) |
|
|
Current Ratio |
36.94 |
|
|
|
|
SOLVENCY RATIOS
(Times) |
|
|
Liabilities Ratio |
0.03 |
|
Assets Backing Ratio |
6.28 |
|
|
|
|
PERFORMANCE
RATIO (%) |
|
|
Operating Profit Margin |
1.14 |
|
Net Profit Margin |
0.79 |
|
Return On Net Assets |
6.89 |
|
Return On Capital Employed |
6.89 |
|
Return On Shareholders' Funds/Equity |
4.80 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.