|
Report Date : |
15.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMERY
OLEOCHEMICALS (M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
COGNIS OLEOCHEMICALS (M) SDN BHD |
|
|
|
|
Registered Office : |
Building E, Peremba Square, Saujana Resort, Section U2, Level 5, 40150
Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
06.10.1980 |
|
|
|
|
Date of Incorporation : |
31.12.2013 |
|
|
|
|
Com. Reg. No.: |
63112-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the production and sale of fatty acids, fatty alcohols and refined glycerine oil field chemicals, ozone acids and plastic additives. |
|
|
|
|
No of Employees : |
400 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country,
has transformed itself since the 1970s from a producer of raw materials into an
emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is
attempting to achieve high-income status by 2020 and to move farther up the
value-added production chain by attracting investments in Islamic finance, high
technology industries, biotechnology, and services. NAJIB's Economic
Transformation Program (ETP) is a series of projects and policy measures
intended to accelerate the country's economic growth. The government has also
taken steps to liberalize some services sub-sectors. The NAJIB administration
also is continuing efforts to boost domestic demand and reduce the economy's
dependence on exports. Nevertheless, exports - particularly of electronics, oil
and gas, palm oil and rubber - remain a significant driver of the economy. As
an oil and gas exporter, Malaysia has profited from higher world energy prices,
although the rising cost of domestic gasoline and diesel fuel, combined with
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 |
EXECUTIVE
SUMMARY
|
|
|
|
REGISTRATION NO. |
: |
63112-D |
||||
|
COMPANY NAME |
: |
EMERY OLEOCHEMICALS (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
COGNIS OLEOCHEMICALS (M) SDN BHD (12/05/2009) |
||||
|
INCORPORATION DATE |
: |
06/10/1980 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
BUILDING E, PEREMBA SQUARE, SAUJANA RESORT, SECTION U2, LEVEL 5, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 4, JALAN PERAK, KAWASAN PERUSAHAAN TELOK PANGLIMA GARANG, 42500
TELOK PANGLIMA GARANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-33268686 |
||||
|
FAX.NO. |
: |
03-33268787 |
||||
|
WEB SITE |
: |
WWW.EMERYOLEO.COM |
||||
|
CONTACT PERSON |
: |
KONGKRAPAN INTARAJANG ( CEO ) |
||||
|
INDUSTRY CODE |
: |
20299 |
||||
|
PRINCIPAL ACTIVITY |
: |
PRODUCTION AND SALE OF FATTY ACIDS, FATTY ALCOHOLS AND REFINED GLYCERINE
OIL FIELD CHEMICALS, OZONE ACIDS AND PLASTIC ADDITIVES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000,000.00 DIVIDED INTO ORDINARY SHARE 500,000,000.00 OF MYR 1.00 EACH. |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 430,612,000.00 DIVIDED INTO ORDINARY SHARES 430,612,000 CASH OF MYR 1.00 EACH. |
||||
|
SALES |
: |
MYR 2,830,207,000 [2013] |
||||
|
NET WORTH |
: |
MYR 965,851,000 [2013] |
||||
|
M1000 OVERALL RANKING |
: |
147[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
3[2011] |
||||
|
STAFF STRENGTH |
: |
400 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
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) production and sale of fatty acids, fatty alcohols and refined glycerine oil field chemicals, ozone acids and plastic additives.
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 |
147 |
89 |
94 |
321 |
387 |
|
|
INDUSTRY RANKING |
3 |
2 |
2 |
15 |
12 |
|
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
12/12/2012 |
MYR 500,000,000.00 |
MYR 430,612,000.00 |
|
17/06/2006 |
MYR 500,000,000.00 |
MYR 400,000,000.00 |
|
18/12/1998 |
MYR 100,000,000.00 |
MYR 74,750,000.00 |
|
24/04/1996 |
MYR 100,000,000.00 |
MYR 54,750,000.00 |
|
16/04/1990 |
MYR 50,000,000.00 |
MYR 34,750,000.00 |
|
20/12/1989 |
MYR 50,000,000.00 |
MYR 26,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SIME DARBY PLANTATION SDN. BHD. |
MAIN BLOCK, PLANTATION TOWER, 2, JALAN PJU 1A/7, ARA DAMANSARA, LEVEL 10, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
647766V |
215,306,000.00 |
50.00 |
|
PTT CHEMICAL INTERNATIONAL PRIVATE LIMITED |
391A, ORCHARD ROAD, 12-01/04, NGEE ANN CITY TOWER A, 238873, SINGAPORE. |
200813882 |
215,306,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
430,612,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
UNITED STATES |
EMERY OLEOCHEMICALS LLC |
100.00 |
31/12/2013 |
|
|
CANADA |
EMERY OLEOCHEMICALS CANADA LTD |
100.00 |
31/12/2013 |
|
|
JAPAN |
EMERY OLEOCHEMICALS JAPAN LTD |
100.00 |
31/12/2013 |
|
|
GERMANY |
EMERY OLEOCHEMICALS GMBH |
100.00 |
31/12/2013 |
|
|
HONG KONG |
EMERY OLEOCHEMICALS (HK) LIMITED |
100.00 |
31/12/2013 |
|
|
215324V |
MALAYSIA |
EMERYOLEO SPECIALTIES (M) SDN. BHD. |
100.00 |
29/03/2013 |
|
UNITED KINGDOM |
EMERY OLEOCHEMICALS UK LTD |
100.00 |
31/12/2013 |
|
|
93282T |
MALAYSIA |
EMERY OLEOCHEMICALS RIKA (M) SDN. BHD. |
55.00 |
29/03/2013 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KORNKAMOL KORPAISARN |
|
Address |
: |
28/22, BAROMRAJCHONNI ROAD, ARUNAMARIN,
BANGBAMRU, BANGPLAD, 10900 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
Y915625 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
06/07/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SHARIMAN ALWANI BIN MOHAMED NORDIN |
|
Address |
: |
151-2-2, MENARA DUTA, JALAN DUTAMAS RAYA, SEGAMBUT,
51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A1366525 |
|
New IC No |
: |
690921-03-5365 |
|
Date of Birth |
: |
21/09/1969 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/02/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
VANCHAI TADADOLTIP |
|
Address |
: |
5/103 MOO 3, TAB-MA ROAD, NERNPRA, AMPHOE
MUANG, RAYONG 21000, THAILAND, THAILAND. |
|
IC / PP No |
: |
L863657 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
16/01/2012 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. RENAKA A/P RAMACHANDRAN |
|
Address |
: |
19, JALAN ENDAH 6/7, 46000 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A0821952 |
|
New IC No |
: |
671005-10-6080 |
|
Date of Birth |
: |
05/10/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/09/2011 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. FRANKI A/L ANTHONY DASS |
|
Address |
: |
3 JALAN 3/66, SECTION 3, 46000 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
New IC No |
: |
561002-07-5533 |
|
Date of Birth |
: |
02/10/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/12/2010 |
DIRECTOR 6
|
Name Of Subject |
: |
PUNTIP OUNGPASUK |
|
Address |
: |
114/99 LADDAROM, VILLAGE SOI 7, SAINA,
MUANG, NONTHABURI 11000, THAILAND, THAILAND. |
|
IC / PP No |
: |
W827327 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
24/11/2008 |
DIRECTOR 7
|
Name Of Subject |
: |
DATO' KONGKRAPAN INTARAJANG |
|
Address |
: |
38/17, SIO SOON VIJAI 6, NEW PHBURI ROAD
BANGKAPAI, HUI KHWANG BANGKOK 10320, THAILAND, THAILAND. |
|
IC / PP No |
: |
A932762 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
24/11/2008 |
DIRECTOR 8
|
Name Of Subject |
: |
MR. MUSTAMIR BIN MOHAMAD |
|
Address |
: |
9, JALAN ARA SD 7/1B, BANDAR SRI DAMANSARA,
52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A1836639 |
|
New IC No |
: |
720518-10-5399 |
|
Date of Birth |
: |
18/05/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/02/2012 |
DIRECTOR 9
|
Name Of Subject |
: |
MR. ZULKIFLEE BIN ABDUL RAHMAN |
|
Address |
: |
30, JALAN SUNGAI BERANANG 32/57, BUKIT
RIMAU, SECTION 32, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A0422566 |
|
New IC No |
: |
660720-01-6371 |
|
Date of Birth |
: |
20/07/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/02/2014 |
DIRECTOR 10
|
Name Of Subject |
: |
ANON SIRISAENGTAKSIN |
|
Address |
: |
42 SOI INTRAMARA 1, SUTHISARNVINIJCHAI ROAD,
SAMSENNAI, PHAYATHAI, BANGKOK 10330, THAILAND, THAILAND. |
|
IC / PP No |
: |
F545107 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
06/07/2012 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KONGKRAPAN INTARAJANG |
|
Position |
: |
CEO |
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG |
|
Auditor' Address |
: |
MENARA MILENIUM, JALAN DAMANLELA, PUSAT
BANDAR DAMANSARA, LEVEL 23A, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. SHAH RIZAL BIN NOOR IKHSAN |
|
IC / PP No |
: |
A1073204 |
|
|
New IC No |
: |
680827-01-5393 |
|
|
Address |
: |
170, JALAN A10, TAMAN MELAWATI, HULU KLANG,
53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
24/09/1982 |
N/A |
EUROPEAN ASIAN BANK AKTIENGESELLSCHFT |
- |
Satisfied |
|
2 |
22/12/1983 |
N/A |
DEUTSCHE BANK MALAYSIA BHD |
MYR 10,000,000.00 |
Satisfied |
|
3 |
03/03/1989 |
N/A |
DEUTSCHE BANK MALAYSIA BHD |
MYR 10,000,000.00 |
Satisfied |
|
4 |
11/03/1989 |
N/A |
DEUTSCHE BANK MALAYSIA BHD |
MYR 9,850,000.00 |
Satisfied |
|
5 |
17/04/1989 |
N/A |
DEUTSCHE BANK MALAYSIA BHD |
MYR 9,850,000.00 |
Satisfied |
|
6 |
10/05/1989 |
N/A |
UNITED ASIAN BANK BERHAD |
MYR 9,850,000.00 |
Satisfied |
|
7 |
04/12/1989 |
N/A |
UNITED ASIAN BANK BERHAD |
MYR 9,850,000.00 |
Satisfied |
|
8 |
02/01/1990 |
N/A |
UNITED ASIAN BANK BERHAD |
MYR 3,420,000.00 |
Satisfied |
|
9 |
02/01/1990 |
N/A |
DEUTSCHE BANK MALAYSIA BHD |
MYR 2,240,000.00 |
Satisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* 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.
DEFAULTER
CHECK AGAINST SUBJECT
|
* 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.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose it' 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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
EUROPE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
|
Type of Customer |
: |
CHEMICAL INDUSTRY |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Award |
: |
1 ) HACCP Year :2005 |
|||||
|
Competitor(s) |
: |
BP CHEMICALS (MALAYSIA) SDN. BHD. |
|||||
|
Member(s) / Affiliate(s) |
: |
MALAYSIAN CROP CARE AND PUBLIC HEALTH
ASSOCIATION (MCPA) FEDERATION OF MALAYSIAN MANUFACTURERS
(FMM) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
|||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
400 |
400 |
350 |
550 |
550 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) production and sale of
fatty acids, fatty alcohols and refined glycerine oil field chemicals, ozone
acids and plastic additives.
The Subject's products are derived from renewable resources which predominantly
made from natural oils and fats such as palm kernel oil and tallow.
The Subject is dedicated to providing customers with best-in-class solutions
through continuous product development and stringent quality standards by
offering products from basics to semi-specialty and specialty chemicals.
The Subject's natural based solutions was being recognized as industry standard
due to the high qualities and product excellence.
RECENT
DEVELOPMENT
|
15th October 2013
The SC recently opened a new Technical Development Centre (TDC) which
based in Loxstedt, Germany. This is because the SC wishes to reach sustainable
innovations to strengthen their competitive advantage and address consumer
expectations. Therefore, TDC will serve as the SC’s Global Centre of Excellence
for its Green Polymer Additives business.
11th October 2013
The SC is pleased to announce that two of its existing products, namely
EMEREEN™ 3916 - Glycerine 99.7% USP and EMEREEN™ 3912 - Glycerine 96% USP have
been approved by the Organic Material Review Institute (OMRI Listed ®) for use
in certified organic production and in food processing and handling.In gaining
recognition as the first commercially produced organic Glycerine solutions for
the agricultural industry; the accreditation makes the SC the only
natural-based chemicals manufacturing company to offer OMRI Listed® Glycerine.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-33268686 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
P O BOX 112, 42507 TELOK RAN GLTMA GARANG SELANGOR |
|
Current Address |
: |
LOT 4, JALAN PERAK, KAWASAN PERUSAHAAN TELOK PANGLIMA GARANG, 42500
TELOK PANGLIMA GARANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
On 13th November 2014 we contacted one of the staff from the Subject and she
provided some information on the Subject.
The Subject is not aware of the address provided.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
2.29% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(0.95%) |
] |
|
|
The continuous fall in turnover could be
due to the lower demand for the Subject's products / services.The Subject
incurred losses during the year due to the inefficient control of its
operating costs. 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 |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
40 Days |
] |
|
|
The Subject kept adequate stocks to meet
its normal business transactions without incurring excessive storage costs.
The favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.82 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.33 Times |
] |
|
|
The Subject's liquid ratio was slightly low.
This could indicate that the Subject's working capital was slightly
deficient. The Subject will have to improve its liquidity position either by
obtaining short term financing or increase its paid up capital so that it can
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(0.46 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.74 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate
sufficient income to service its interest. If the situation does not
improve, the Subject may be vulnerable to default in servicing the interest.
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's losses could be attributed to the lower turnover which
in turn could be the result of unfavourable market conditions. The Subject's liquidity
was at an acceptable range. If the Subject is able to obtain further short
term financing, it should be able to meet all its short term obligations. The
Subject's interest cover was negative, indicating that it did not generate
sufficient income to service its interest. If its result does not show
impressive improvements or succeed obtaining short term financing or capital
injection, it may not be able to service its interest and repay the loans.
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 : LIMITED |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2010 |
2011 |
2012 |
2013 |
2014** |
|
Population ( Million) |
28.35 |
28.70 |
29.30 |
29.80 |
30.30 |
|
Gross Domestic
Products ( % ) |
7.2 |
5.1 |
5.6 |
5.3 |
6.0 |
|
Domestic Demand ( % ) |
6.3 |
8.2 |
9.4 |
5.6 |
6.4 |
|
Private
Expenditure ( % ) |
8.1 |
8.2 |
8.0 |
7.4 |
7.9 |
|
Consumption ( % ) |
6.7 |
7.1 |
1.0 |
5.7 |
6.5 |
|
Investment ( % ) |
17.7 |
12.2 |
11.7 |
13.3 |
12.0 |
|
Public
Expenditure ( % ) |
3.8 |
8.4 |
13.3 |
1.2 |
2.3 |
|
Consumption ( % ) |
0.2 |
16.1 |
11.3 |
(1.2) |
2.1 |
|
Investment ( % ) |
2.8 |
(0.3) |
15.9 |
4.2 |
2.6 |
|
Balance of Trade ( MYR Million ) |
118,356 |
116,058 |
106,300 |
110,700 |
52,314 |
|
Government Finance ( MYR Million ) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
|
Inflation ( % Change in Composite CPI) |
5.1 |
3.1 |
1.6 |
2.5 |
3.3 |
|
Unemployment Rate |
3.9 |
3.3 |
3.2 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
329 |
415 |
427 |
- |
417 |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
2.20 |
3.50 |
2.20 |
- |
- |
|
Average 3 Months
of Non-performing Loans ( % ) |
15.30 |
14.80 |
14.70 |
- |
- |
|
Average Base Lending Rate ( % ) |
6.30 |
6.60 |
6.53 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
14.7 |
15.3 |
32.2 |
- |
- |
|
Foreign Investment ( MYR Million ) |
22,517.9 |
23,546.1 |
26,230.4 |
38,238.0 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of
New Companies ( No. ) |
44,148 |
45,455 |
45,441 |
46,321 |
- |
|
Registration of New Companies ( % ) |
6.2 |
3.0 |
(0.0) |
1.9 |
- |
|
Liquidation of
Companies ( No. ) |
25,585 |
132,476 |
- |
- |
- |
|
Liquidation of Companies ( % ) |
(34.5) |
417.8 |
- |
- |
- |
|
Registration of
New Business ( No. ) |
271,414 |
284,598 |
324,761 |
329,895 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business
Dissolved ( No. ) |
19,738 |
20,121 |
- |
- |
- |
|
Business Dissolved ( % ) |
2.0 |
1.9 |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
543.6 |
535.1 |
552.2 |
- |
- |
|
Cellular Phone Subscribers ( Million ) |
32.8 |
35.3 |
38.5 |
43.0 |
- |
|
Tourist Arrival ( Million Persons ) |
24.6 |
24.7 |
25.0 |
25.7 |
- |
|
Hotel Occupancy Rate ( % ) |
63.0 |
60.6 |
62.4 |
62.6 |
- |
|
Credit Cards Spending ( % ) |
14.1 |
15.6 |
12.6 |
- |
- |
|
Bad Cheque Offenders (No.) |
33,568 |
32,627 |
26,982 |
28,876 |
- |
|
Individual Bankruptcy ( No.) |
18,119 |
19,167 |
19,575 |
21,984 |
- |
|
Individual Bankruptcy ( % ) |
11.7 |
5.8 |
2.1 |
12.3 |
- |
|
INDUSTRIES ( %
of Growth ): |
2010 |
2011 |
2012 |
2013 |
2014** |
|
Agriculture |
2.4 |
5.8 |
1.0 |
2.1 |
3.8 |
|
Palm Oil |
(3.4) |
10.8 |
(0.3) |
2.6 |
- |
|
Rubber |
9.9 |
6.1 |
(7.9) |
(10.1) |
- |
|
Forestry & Logging |
(3.3) |
(7.6) |
(4.5) |
(7.8) |
- |
|
Fishing |
5.6 |
2.1 |
4.3 |
1.6 |
- |
|
Other Agriculture |
7.9 |
7.1 |
6.4 |
8.2 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
508.4 |
634.1 |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
2.1 |
3.2 |
- |
- |
- |
|
Mining |
(0.3) |
(5.4) |
1.4 |
0.9 |
(0.8) |
|
Oil & Gas |
0.5 |
(1.7) |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
49.7 |
46.5 |
- |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
0.1 |
- |
- |
- |
|
Manufacturing # |
11.9 |
4.7 |
4.8 |
3.4 |
6.6 |
|
Exported-oriented
Industries |
12.1 |
4.1 |
6.5 |
3.3 |
5.6 |
|
Electrical & Electronics |
28.4 |
(4.0) |
12.7 |
6.9 |
13.3 |
|
Rubber Products |
25.3 |
20.7 |
3.0 |
11.7 |
(0.3) |
|
Wood Products |
20.1 |
(5.1) |
8.7 |
(2.7) |
5.1 |
|
Textiles & Apparel |
(0.4) |
13.2 |
(7.1) |
(2.6) |
11.5 |
|
Domestic-oriented
Industries |
16.3 |
10.7 |
1.7 |
6.8 |
9.4 |
|
Food, Beverages & Tobacco |
3.0 |
4.8 |
2.7 |
3.6 |
6.1 |
|
Chemical & Chemical Products |
16.2 |
10.0 |
10.8 |
5.6 |
- |
|
Plastic Products |
2.4 |
3.8 |
- |
- |
- |
|
Iron & Steel |
29.3 |
2.2 |
(6.6) |
5.0 |
0.1 |
|
Fabricated Metal Products |
14.9 |
21.8 |
13.8 |
9.9 |
2.9 |
|
Non-metallic Mineral |
20.2 |
12.1 |
2.9 |
(2.0) |
5.4 |
|
Transport Equipment |
36.5 |
12.0 |
3.4 |
13.8 |
22.9 |
|
Paper & Paper Products |
18.7 |
9.5 |
3.1 |
1.8 |
4.7 |
|
Crude Oil Refineries |
(11.4) |
9.3 |
- |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,217.5 |
6,537.2 |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
23.8 |
25.7 |
- |
- |
- |
|
Construction |
11.4 |
4.7 |
18.6 |
10.9 |
10.0 |
|
Industry Non-Performing Loans ( MYR
Million ) |
4,038.5 |
3,856.9 |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
10.7 |
10.2 |
- |
- |
- |
|
Services |
7.4 |
7.0 |
6.4 |
5.9 |
6.2 |
|
Electric, Gas & Water |
7.8 |
3.5 |
4.4 |
4.2 |
3.6 |
|
Transport, Storage & Communication |
7.7 |
6.5 |
7.1 |
7.3 |
7.5 |
|
Wholesale, Retail, Hotel & Restaurant |
4.7 |
5.2 |
4.7 |
5.9 |
6.9 |
|
Finance, Insurance & Real Estate |
6.10 |
6.90 |
9.70 |
3.70 |
4.65 |
|
Government Services |
5.9 |
12.4 |
9.4 |
8.3 |
6.1 |
|
Other Services |
4.4 |
5.1 |
3.9 |
5.1 |
4.8 |
|
Industry
Non-Performing Loans ( MYR Million ) |
7,384.6 |
6,825.2 |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
25.7 |
23.4 |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
20299 : Manufacture of other chemical
products 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 |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
EMERY
OLEOCHEMICALS (M) SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
2,830,207,000 |
3,219,117,000 |
3,605,403,000 |
3,114,760,000 |
2,646,135,000 |
|
Other Income |
67,547,000 |
182,379,000 |
99,327,000 |
91,143,000 |
85,601,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,897,754,000 |
3,401,496,000 |
3,704,730,000 |
3,205,903,000 |
2,731,736,000 |
|
Costs of Goods Sold |
(2,466,105,000) |
(2,867,539,000) |
(3,197,340,000) |
(2,651,644,000) |
(2,315,571,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
431,649,000 |
533,957,000 |
507,390,000 |
554,259,000 |
416,165,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(38,440,000) |
53,200,000 |
23,990,000 |
76,982,000 |
(34,638,000) |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED
COMPANIES |
(2,207,000) |
(1,165,000) |
(377,000) |
122,000 |
(439,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(40,647,000) |
52,035,000 |
23,613,000 |
77,104,000 |
(35,077,000) |
|
Taxation |
67,470,000 |
(11,335,000) |
(13,662,000) |
(26,780,000) |
(289,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
26,823,000 |
40,700,000 |
9,951,000 |
50,324,000 |
(35,366,000) |
|
Minority interests |
(4,715,000) |
(3,603,000) |
(3,587,000) |
(3,047,000) |
(3,487,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
22,108,000 |
37,097,000 |
6,364,000 |
47,277,000 |
(38,853,000) |
|
Extraordinary items |
35,125,000 |
(39,530,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
57,233,000 |
(2,433,000) |
6,364,000 |
47,277,000 |
(38,853,000) |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
324,211,000 |
394,383,000 |
382,998,000 |
335,721,000 |
374,574,000 |
|
Prior year adjustment |
- |
(67,739,000) |
5,021,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
324,211,000 |
326,644,000 |
388,019,000 |
335,721,000 |
374,574,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
381,444,000 |
324,211,000 |
394,383,000 |
382,998,000 |
335,721,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
381,444,000 |
324,211,000 |
394,383,000 |
382,998,000 |
335,721,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Lease interest |
1,832,000 |
2,364,000 |
1,634,000 |
- |
- |
|
Revolving loans |
9,863,000 |
9,835,000 |
8,038,000 |
3,708,000 |
4,186,000 |
|
Term loan / Borrowing |
- |
- |
8,717,000 |
- |
- |
|
Others |
16,079,000 |
15,345,000 |
7,946,000 |
11,414,000 |
15,667,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,774,000 |
27,544,000 |
26,335,000 |
15,122,000 |
19,853,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
EMERY
OLEOCHEMICALS (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
913,446,000 |
817,373,000 |
781,205,000 |
660,617,000 |
608,072,000 |
|
Associated companies |
- |
16,035,000 |
16,035,000 |
- |
- |
|
Investments |
210,000 |
6,044,000 |
7,386,000 |
210,000 |
- |
|
Deferred assets |
74,983,000 |
16,620,000 |
4,511,000 |
6,288,000 |
21,012,000 |
|
Others |
- |
- |
- |
6,990,000 |
6,778,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
75,193,000 |
38,699,000 |
27,932,000 |
13,488,000 |
27,790,000 |
|
INTANGIBLE
ASSETS |
|||||
|
Deferred/Expenditure carried forward |
- |
- |
- |
23,857,000 |
19,592,000 |
|
Own goodwill |
5,959,000 |
5,566,000 |
5,821,000 |
- |
- |
|
Patents / Copyrights |
10,142,000 |
9,317,000 |
16,457,000 |
- |
- |
|
Computer software |
- |
- |
410,000 |
- |
- |
|
Others |
36,204,000 |
1,802,000 |
3,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
52,305,000 |
16,685,000 |
22,691,000 |
23,857,000 |
19,592,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,040,944,000 |
872,757,000 |
831,828,000 |
697,962,000 |
655,454,000 |
|
Stocks |
475,926,000 |
394,701,000 |
510,741,000 |
502,019,000 |
413,602,000 |
|
Trade debtors |
359,807,000 |
395,539,000 |
454,215,000 |
440,957,000 |
401,572,000 |
|
Other debtors, deposits & prepayments |
108,418,000 |
21,597,000 |
39,877,000 |
18,957,000 |
21,200,000 |
|
Short term deposits |
54,220,000 |
103,417,000 |
53,579,000 |
35,746,000 |
107,625,000 |
|
Cash & bank balances |
221,332,000 |
210,108,000 |
101,985,000 |
106,732,000 |
90,579,000 |
|
Others |
16,751,000 |
16,246,000 |
17,506,000 |
20,311,000 |
9,667,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,236,454,000 |
1,141,608,000 |
1,177,903,000 |
1,124,722,000 |
1,044,245,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
2,277,398,000 |
2,014,365,000 |
2,009,731,000 |
1,822,684,000 |
1,699,699,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
271,694,000 |
181,279,000 |
233,475,000 |
235,317,000 |
224,126,000 |
|
Other creditors & accruals |
91,261,000 |
85,077,000 |
95,625,000 |
82,242,000 |
85,357,000 |
|
Hire purchase & lease creditors |
9,375,000 |
10,174,000 |
8,794,000 |
248,000 |
303,000 |
|
Bank overdraft |
6,488,000 |
461,000 |
6,746,000 |
3,823,000 |
3,205,000 |
|
Short term borrowings/Term loans |
57,381,000 |
22,935,000 |
- |
170,979,000 |
- |
|
Other borrowings |
365,569,000 |
316,261,000 |
297,232,000 |
249,149,000 |
155,504,000 |
|
Bill & acceptances payable |
90,000,000 |
115,000,000 |
117,708,000 |
45,962,000 |
- |
|
Provision for taxation |
1,531,000 |
1,122,000 |
13,399,000 |
6,491,000 |
2,234,000 |
|
Dividends payable/proposed |
- |
- |
- |
- |
14,229,000 |
|
Other liabilities |
34,310,000 |
33,959,000 |
14,635,000 |
8,946,000 |
913,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
927,609,000 |
766,268,000 |
787,614,000 |
803,157,000 |
485,871,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
308,845,000 |
375,340,000 |
390,289,000 |
321,565,000 |
558,374,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,349,789,000 |
1,248,097,000 |
1,222,117,000 |
1,019,527,000 |
1,213,828,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
430,612,000 |
430,612,000 |
400,000,000 |
400,000,000 |
400,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
430,612,000 |
430,612,000 |
400,000,000 |
400,000,000 |
400,000,000 |
|
RESERVES |
|||||
|
Share premium |
28,578,000 |
28,578,000 |
28,578,000 |
28,578,000 |
28,578,000 |
|
Revaluation reserve |
- |
- |
- |
8,094,000 |
8,052,000 |
|
Exchange equalisation/fluctuation reserve |
69,551,000 |
35,081,000 |
20,373,000 |
- |
- |
|
Retained profit/(loss) carried forward |
381,444,000 |
324,211,000 |
394,383,000 |
382,998,000 |
335,721,000 |
|
Others |
- |
- |
- |
16,884,000 |
47,973,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
479,573,000 |
387,870,000 |
443,334,000 |
436,554,000 |
420,324,000 |
|
MINORITY INTEREST |
55,666,000 |
52,525,000 |
51,172,000 |
52,350,000 |
53,790,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
965,851,000 |
871,007,000 |
894,506,000 |
888,904,000 |
874,114,000 |
|
Long term loans |
161,854,000 |
129,964,000 |
158,648,000 |
- |
205,954,000 |
|
Lease obligations |
12,461,000 |
21,821,000 |
32,784,000 |
640,000 |
- |
|
Deferred taxation |
8,987,000 |
32,935,000 |
19,309,000 |
14,493,000 |
10,128,000 |
|
Retirement benefits provision |
- |
- |
- |
104,884,000 |
123,632,000 |
|
Others |
200,636,000 |
192,370,000 |
116,870,000 |
10,606,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
383,938,000 |
377,090,000 |
327,611,000 |
130,623,000 |
339,714,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,349,789,000 |
1,248,097,000 |
1,222,117,000 |
1,019,527,000 |
1,213,828,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
EMERY
OLEOCHEMICALS (M) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
275,552,000 |
313,525,000 |
155,564,000 |
142,478,000 |
198,204,000 |
|
Net Liquid Funds |
179,064,000 |
198,064,000 |
31,110,000 |
92,693,000 |
194,999,000 |
|
Net Liquid Assets |
(167,081,000) |
(19,361,000) |
(120,452,000) |
(180,454,000) |
144,772,000 |
|
Net Current Assets/(Liabilities) |
308,845,000 |
375,340,000 |
390,289,000 |
321,565,000 |
558,374,000 |
|
Net Tangible Assets |
1,297,484,000 |
1,231,412,000 |
1,199,426,000 |
995,670,000 |
1,194,236,000 |
|
Net Monetary Assets |
(551,019,000) |
(396,451,000) |
(448,063,000) |
(311,077,000) |
(194,942,000) |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
712,991,000 |
626,451,000 |
629,950,000 |
474,509,000 |
369,152,000 |
|
Total Liabilities |
1,311,547,000 |
1,143,358,000 |
1,115,225,000 |
933,780,000 |
825,585,000 |
|
Total Assets |
2,277,398,000 |
2,014,365,000 |
2,009,731,000 |
1,822,684,000 |
1,699,699,000 |
|
Net Assets |
1,349,789,000 |
1,248,097,000 |
1,222,117,000 |
1,019,527,000 |
1,213,828,000 |
|
Net Assets Backing |
965,851,000 |
871,007,000 |
894,506,000 |
888,904,000 |
874,114,000 |
|
Shareholders' Funds |
965,851,000 |
871,007,000 |
894,506,000 |
888,904,000 |
874,114,000 |
|
Total Share Capital |
430,612,000 |
430,612,000 |
400,000,000 |
400,000,000 |
400,000,000 |
|
Total Reserves |
479,573,000 |
387,870,000 |
443,334,000 |
436,554,000 |
420,324,000 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.30 |
0.41 |
0.20 |
0.18 |
0.41 |
|
Liquid Ratio |
0.82 |
0.97 |
0.85 |
0.78 |
1.30 |
|
Current Ratio |
1.33 |
1.49 |
1.50 |
1.40 |
2.15 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
61 |
45 |
52 |
59 |
57 |
|
Debtors Ratio |
46 |
45 |
46 |
52 |
55 |
|
Creditors Ratio |
40 |
23 |
27 |
32 |
35 |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.74 |
0.72 |
0.70 |
0.53 |
0.42 |
|
Liabilities Ratio |
1.36 |
1.31 |
1.25 |
1.05 |
0.94 |
|
Times Interest Earned Ratio |
(0.46) |
2.89 |
1.90 |
6.10 |
(0.77) |
|
Assets Backing Ratio |
3.01 |
2.86 |
3.00 |
2.49 |
2.99 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
(1.44) |
1.62 |
0.65 |
2.48 |
(1.33) |
|
Net Profit Margin |
0.78 |
1.15 |
0.18 |
1.52 |
(1.47) |
|
Return On Net Assets |
(0.95) |
6.38 |
4.09 |
9.05 |
(1.25) |
|
Return On Capital Employed |
(0.87) |
5.95 |
3.79 |
8.36 |
(1.18) |
|
Return On Shareholders' Funds/Equity |
2.29 |
4.26 |
0.71 |
5.32 |
(4.44) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.