|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PUBLIC AUTO
SUPPLIERS SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 2-2-5, Menara Klh Business Centre, 2, Jalan Kasipillay, 2 1/2 Miles,
Jalan Ipoh, 2nd Floor, 51200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.12.1971 |
|
|
|
|
Com. Reg. No.: |
11578-M |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is principally engaged in the dealer of spare parts for bus
and lorry. |
|
|
|
|
No of Employees : |
18 |
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. |
: |
11578-M |
||||
|
COMPANY NAME |
: |
PUBLIC AUTO SUPPLIERS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
31/12/1971 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
SUITE 2-2-5, MENARA KLH BUSINESS CENTRE, 2, JALAN KASIPILLAY, 2 1/2
MILES, JALAN IPOH, 2ND FLOOR, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
636, BATU 4, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-62512922 |
||||
|
FAX.NO. |
: |
03-62515789 |
||||
|
CONTACT PERSON |
: |
ONG CHIEW KIAT ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
45300 |
||||
|
PRINCIPAL ACTIVITY |
: |
DEALER OF SPARE PARTS FOR BUS AND LORRY |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 4,376,530 [2013] |
||||
|
NET WORTH |
: |
MYR 3,814,457 [2013] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
18 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND |
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) dealer of spare
parts for bus and lorry.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
10/04/2013 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. ONG CHIEW KIAT + |
53A, JALAN CUMARAMASI, OFF JALAN IPOH, 3 1/2 MILES, 51200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
360718-04-5048 |
33,679.00 |
33.68 |
|
MS. TAN SIEW FOONG + |
T.27, JALAN UMBUN 2, TAMAN SETAPAK, 53000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
400306-71-5010 7647795 |
23,433.00 |
23.43 |
|
MR. ONG MENG SOON + |
53A, JALAN CUMARAMASAMI, OFF JALAN IPOH, 3 1/2 MILES, 51100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
570928-71-5287 5334872 |
22,300.00 |
22.30 |
|
MR. ONG SEOW KEE |
T.27, JALAN UMBUN DUA, SETAPAK GARDEN, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
670324-10-5347 A0301584 |
5,900.00 |
5.90 |
|
MS. ONG LAY FONG + |
53A, JALAN CUMARASAMI, BATU 4, JALAN IPOH, 51100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
610908-10-5936 6310811 |
5,344.00 |
5.34 |
|
MS. ONG LAY CHOO |
53A, JALAN CUMARASAMI, OFFBATU 4, JALAN IPOH, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
590616-10-6296 |
5,344.00 |
5.34 |
|
MS. ONG KEE LIAN |
T.27, JALAN GOMBAK, SETAPAK GARDEN, 53000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
731015-14-5384 A2613256 |
2,000.00 |
2.00 |
|
MS. ONG CHYI YING |
T.27, JALAN GOMBAK, SETAPAK GARDEN, 53000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
700826-10-5384 A1616552 |
2,000.00 |
2.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MS. ONG LAY FONG |
|
Address |
: |
53A, JALAN CUMARASAMI, BATU 4, JALAN IPOH, 51100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6310811 |
|
New IC No |
: |
610908-10-5936 |
|
Date of Birth |
: |
08/09/1961 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
04/05/2009 |
|
Remark |
: |
ALTERNATE TO ONG MENG SOON |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. ONG MENG SOON |
|
Address |
: |
53A, JALAN CUMARAMASAMI, OFF JALAN IPOH, 3 1/2 MILES, 51100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5334872 |
|
New IC No |
: |
570928-71-5287 |
|
Date of Birth |
: |
28/09/1957 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/02/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MS. TAN SIEW FOONG |
|
Address |
: |
T.27, JALAN UMBUN 2, TAMAN SETAPAK, 53000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
7647795 |
|
New IC No |
: |
400306-71-5010 |
|
Date of Birth |
: |
06/03/1940 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/01/1972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MS. ONG CHIEW KIAT |
|
Address |
: |
53A, JALAN CUMARAMASI, OFF JALAN IPOH, 3 1/2 MILES, 51200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
360718-04-5048 |
|
Date of Birth |
: |
18/07/1936 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/05/2007 |
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name of Subject |
: |
ONG CHIEW KIAT |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
CHONG |
|
|
Position |
: |
STAFF |
|
Auditor |
: |
WONG & CO |
|
Auditor' Address |
: |
STE. 2-5-6 & 2-5-7, MENARA KLH, 2, JALAN IPOH, TINGKAT 5, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MR. WONG WING KAI @ WONG WENG FONG @ WONG WENG FONG |
|
|
IC / PP No |
: |
1618409 |
|
|
New IC No |
: |
490629-03-5003 |
|
|
Address |
: |
3, JALAN TENGAS (8/8), 46050 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
STANDARD CHARTERED BANK MALAYSIA BHD |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
15/06/1979 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 1,100,000.00 |
Satisfied |
|
2 |
15/06/1979 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 300,000.00 |
Satisfied |
|
3 |
15/06/1979 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 400,000.00 |
Satisfied |
|
4 |
15/06/1979 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 450,000.00 |
Satisfied |
|
5 |
15/06/1979 |
N/A |
STANDART CHARTERED BANK MALAYSIA BERHAD |
MYR 550,000.00 |
Satisfied |
|
8 |
15/04/1987 |
N/A |
STANDARD CHARTERED BANKMALAYSIA BERHAD |
MYR 100,000.00 |
Satisfied |
|
6 |
19/04/1989 |
OPEN CHARGE |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 300,000.00 |
Unsatisfied |
|
7 |
19/04/1989 |
OPEN CHARGE |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 150,000.00 |
Unsatisfied |
|
9 |
07/08/1990 |
OPEN CHARGE |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 200,000.00 |
Unsatisfied |
|
10 |
19/10/1994 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BHD |
- |
Unsatisfied |
|
11 |
20/10/1999 |
OPEN CHARGE |
PERWIRA AFFIN BANK BERHAD |
MYR 486,625.66 |
Unsatisfied |
|
12 |
01/10/2002 |
OPEN CHARGE |
PUBLIC BANK BERHAD |
MYR 568,181.79 |
Unsatisfied |
|
13 |
23/10/2003 |
N/A |
PUBLIC BANK BERHAD |
- |
Satisfied |
|
14 |
26/03/2008 |
FACILITILIES AGREEMENT |
PUBLIC BANK BHD |
MYR 800,000.00 |
Unsatisfied |
LEGAL 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 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.
PAYMENT RECORD |
|
|
|
||||
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
30% |
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Import Countries |
: |
CHINA,INDIA,THAILAND,GERMANY |
|||
CLIENTELE |
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS |
|
Goods Traded |
: |
AUTO PARTS FOR HEAVY VEHICLES SUCH AS BUS AND LORRY
|
|
|
|
|
|
|
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2010 |
2009 |
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
|
COMPANY |
18 |
18 |
15 |
15 |
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) dealer of spare parts
for bus and lorry.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-62512922 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
636 BATU 4, JALAN IPOH,51200,KUALA LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
636, BATU 4, JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 7th October 2014 we contacted one of the staff from the Subject and she
provided some information.
FINANCIAL ANALYSIS |
|
|
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.83% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.94% |
] |
|
|
|
|
|
|
|
|
|
|
The unfavourable return on shareholders' funds could indicate that the
Subject was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Favourable |
[ |
3.05 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject was in good liquidity position with its current liabilities
well covered by its current assets. With its net current assets, the
Subject should be able to repay its short term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Favourable |
[ |
0.42 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liabilities ratio has minimised the Subject's financial risk. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 has a
low liabilities ratio. It's liabilities were low and was not vulnerable to
the financial risk. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : STRONG |
||||||
|
Major Economic Indicators: |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population ( Million) |
28.13 |
28.35 |
28.70 |
29.30 |
29.80 |
|
Gross Domestic Products ( % ) |
(0.5) |
7.2 |
5.1 |
5.6 |
5.3 |
|
Domestic Demand ( % ) |
2.9 |
6.3 |
8.2 |
9.4 |
5.6 |
|
Private Expenditure ( % ) |
(2.7) |
8.1 |
8.2 |
8.0 |
7.4 |
|
Consumption ( % ) |
0.7 |
6.7 |
7.1 |
1.0 |
5.7 |
|
Investment ( % ) |
(17.2) |
17.7 |
12.2 |
11.7 |
13.3 |
|
Public Expenditure ( % ) |
5.2 |
3.8 |
8.4 |
13.3 |
1.2 |
|
Consumption ( % ) |
3.1 |
0.2 |
16.1 |
11.3 |
(1.2) |
|
Investment ( % ) |
8.0 |
2.8 |
(0.3) |
15.9 |
4.2 |
|
|
|
|
|
|
|
|
Balance of Trade ( MYR Million ) |
89,650 |
118,356 |
116,058 |
106,300 |
110,700 |
|
Government Finance ( MYR Million ) |
(28,450) |
(40,482) |
(45,511) |
(42,297) |
(39,993) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.8) |
(5.6) |
(5.4) |
(4.5) |
(4.0) |
|
Inflation ( % Change in Composite CPI) |
(5.2) |
5.1 |
3.1 |
1.6 |
2.5 |
|
Unemployment Rate |
4.5 |
3.9 |
3.3 |
3.2 |
3.0 |
|
|
|
|
|
|
|
|
Net International Reserves ( MYR Billion ) |
331 |
329 |
415 |
427 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
2.87 |
2.20 |
3.50 |
2.20 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
11.08 |
15.30 |
14.80 |
14.70 |
- |
|
Average Base Lending Rate ( % ) |
5.53 |
6.30 |
6.60 |
6.53 |
- |
|
Business Loans Disbursed( % ) |
10.5 |
14.7 |
15.3 |
32.2 |
- |
|
Foreign Investment ( MYR Million ) |
22,156.8 |
22,517.9 |
23,546.1 |
26,230.4 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Companies ( No. ) |
41,578 |
44,148 |
45,455 |
45,441 |
- |
|
Registration of New Companies ( % ) |
(0.1) |
6.2 |
3.0 |
(0.0) |
- |
|
Liquidation of Companies ( No. ) |
39,075 |
25,585 |
132,476 |
- |
- |
|
Liquidation of Companies ( % ) |
39.6 |
(34.5) |
417.8 |
- |
- |
|
|
|
|
|
|
|
|
Registration of New Business ( No. ) |
312,581 |
271,414 |
284,598 |
324,761 |
- |
|
Registration of New Business ( % ) |
- |
- |
- |
- |
- |
|
Business Dissolved ( No. ) |
19,345 |
19,738 |
20,121 |
- |
- |
|
Business Dissolved ( % ) |
2.4 |
2.0 |
1.9 |
- |
- |
|
|
|
|
|
|
|
|
Sales of New Passenger Cars (' 000 Unit ) |
486.3 |
543.6 |
535.1 |
552.2 |
- |
|
Cellular Phone Subscribers ( Million ) |
30.1 |
32.8 |
35.3 |
38.5 |
- |
|
Tourist Arrival ( Million Persons ) |
23.6 |
24.6 |
24.7 |
25.0 |
- |
|
Hotel Occupancy Rate ( % ) |
58.0 |
63.0 |
60.6 |
62.4 |
- |
|
|
|
|
|
|
|
|
Credit Cards Spending ( % ) |
12.8 |
14.1 |
15.6 |
12.6 |
- |
|
Bad Cheque Offenders (No.) |
36,667 |
33,568 |
32,627 |
26,982 |
28,876 |
|
Individual Bankruptcy ( No.) |
16,228 |
18,119 |
19,167 |
19,575 |
21,984 |
|
Individual Bankruptcy ( % ) |
16.7 |
11.7 |
5.8 |
2.1 |
12.3 |
|
INDUSTRIES ( % of Growth ): |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Agriculture |
0.1 |
2.4 |
5.8 |
1.3 |
2.1 |
|
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 |
(6.5) |
(0.3) |
(5.4) |
1.0 |
0.7 |
|
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 # |
(9.0) |
11.9 |
4.7 |
4.8 |
3.5 |
|
Exported-oriented Industries |
(19.0) |
12.1 |
2.8 |
4.1 |
- |
|
Electrical & Electronics |
(30.3) |
28.4 |
(4.0) |
12.7 |
18.6 |
|
Rubber Products |
(10.1) |
25.3 |
20.7 |
3.0 |
8.2 |
|
Wood Products |
(24.1) |
20.1 |
(5.1) |
8.7 |
(3.1) |
|
Textiles & Apparel |
(19.5) |
(0.4) |
13.2 |
(7.1) |
(2.6) |
|
Domestic-oriented Industries |
(9.8) |
16.3 |
6.5 |
8.6 |
- |
|
Food, Beverages & Tobacco |
0.2 |
3.0 |
4.8 |
2.7 |
3.6 |
|
Chemical & Chemical Products |
(7.7) |
16.2 |
10.0 |
10.8 |
(0.7) |
|
Plastic Products |
(9.1) |
2.4 |
3.8 |
- |
- |
|
Iron & Steel |
(32.7) |
29.3 |
2.2 |
(6.6) |
3.4 |
|
Fabricated Metal Products |
(2.5) |
14.9 |
21.8 |
13.8 |
12.2 |
|
Non-metallic Mineral |
(15.5) |
20.2 |
12.1 |
2.9 |
(0.4) |
|
Transport Equipment |
(13.5) |
36.5 |
12.0 |
3.4 |
13.8 |
|
Paper & Paper Products |
(5.0) |
18.7 |
9.5 |
3.1 |
2.3 |
|
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 |
6.2 |
11.4 |
4.7 |
18.6 |
10.9 |
|
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 |
2.9 |
7.4 |
7.1 |
6.4 |
5.9 |
|
Electric, Gas & Water |
1.4 |
7.8 |
3.5 |
4.4 |
4.2 |
|
Transport, Storage & Communication |
1.6 |
7.7 |
6.5 |
7.1 |
7.3 |
|
Wholesale, Retail, Hotel & Restaurant |
2.8 |
4.7 |
5.2 |
4.7 |
5.9 |
|
Finance, Insurance & Real Estate |
3.8 |
6.1 |
6.9 |
9.7 |
3.7 |
|
Government Services |
3.4 |
5.9 |
12.4 |
9.4 |
8.3 |
|
Other Services |
3.8 |
4.4 |
5.1 |
3.9 |
5.1 |
|
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 |
|||||
INDUSTRY ANALYSIS |
|
MSIC CODE |
|
|
45300 : Wholesale and retail sale of all kinds of parts, components,
supplies, tools and accessories for motor vehicles |
|
|
|
|
|
INDUSTRY : |
MOTOR VECHICLE |
|
|
|
|
|
|
|
The total industry volume (TIV) for year 2013 forcasted 640 000 units.
This is an increase of 2.0% compared to the year 2012. Sales of passenger
vehicles in the year 2013 forcasted increase by 2.0% to 563 000 units
compared to 552 189 units at the year 2012. While sales of comercial vehicles
in year 2013 forcasted to increase by 2.0% to 77 000 units compared to 75 564
units at the year 2012. |
|
|
|
|
|
It is a big challenge for the TIV of year 2013 to create another high
record. However, Malaysia's GPD growth is forcasted to be 5.6% in year 2013.
This is driven by exports and domestic demand and is expected to give
confidence in consumer sentiments. Besides, multiplier effects from the
Economic Transformation Programme's (ETP) projects would give a further boost
to the domestic economy and create greater demand for new vehicles. |
|
|
|
|
|
According to the Malaysian Automotive Association (MAA), the
implimentation of the Bank Negara's guidelines on responsible financing
practices from 1st January 2012 coused a slowdown in new vehicle purchase in
first quarter 2012. However, the total industry volume (TIV) of the year 2012
surged to a historical high of 627,753 units which is an all time record
achievement for the industry. This record had overtaken the previous highest
record of 605,156 units achieved in 2010. It had also outperformed the MAA's
TIV forcast of 615,000 units. The main contributors to the growth were led by
Perodua and Proton, followed by Toyota, Honda and Nissan. |
|
|
|
|
|
The total registration of new passenger vehicles in year 2012 reached
552,189 unts compare with 535,113 units in year 2011. Which had bring an
increase of 3.2% (17,076 units) of growth rate in the registration of
passenger vehicles. While the total registration for commercial vehicles n
2012 was 75,564 units which is an increase of 6.2% (10,554 units). Besides,
the production of new vehicles also recorded an increase of 6.8% (36,105
units) in year 2012. According to the president of Malaysian Automotive Association
(MAA), the record new vehicle sales in 2012 was due to factors such as strong
economic growth, the implementation of infrastructure projects under the
Economic Transformation Programme (ETP), increased consumer spending and
consumption due to stable employment and rising disposable income,
introduction of new models at competitive prices as well as aggressive sales
campaigns by car companies. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
The Subject, incorporated in 1971 as an Exempt Private company,
focusing on dealer of spare parts for bus and lorry. Having been in the
industry for 43 years, the Subject has achieved a certain market share and has
built up a satisfactory reputation in the market. It should have received
supports from its regular customers. A paid up capital of the Subject is MYR
1,000,000. We considered that the Subject's business position in the market
is much dependent on the efforts of its directors.
|
PROFIT AND LOSS ACCOUNT |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
PUBLIC AUTO SUPPLIERS SDN. BHD. |
|
Financial Year End |
2013-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
SUMMARY |
|
Currency |
MYR |
|
|
|
|
TURNOVER |
4,376,530 |
|
|
---------------- |
|
Total Turnover |
4,376,530 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
379,247 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
379,247 |
|
Taxation |
(80,693) |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
298,554 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
2,715,903 |
|
|
---------------- |
|
As restated |
2,715,903 |
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,014,457 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(200,000) |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,814,457 |
BALANCE SHEET |
|
PUBLIC AUTO SUPPLIERS SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
568,550 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
568,550 |
|
|
|
|
TOTAL CURRENT ASSETS |
4,834,367 |
|
|
---------------- |
|
TOTAL ASSET |
5,402,917 |
|
|
============= |
|
|
|
|
TOTAL CURRENT LIABILITIES |
1,585,660 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
3,248,707 |
|
|
---------------- |
|
TOTAL NET ASSETS |
3,817,257 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
1,000,000 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
1,000,000 |
|
|
|
|
Retained profit/(loss) carried forward |
2,814,457 |
|
|
---------------- |
|
TOTAL RESERVES |
2,814,457 |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
3,814,457 |
|
|
|
|
TOTAL LONG TERM LIABILITIES |
2,800 |
|
|
---------------- |
|
|
3,817,257 |
|
|
============= |
|
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
|
|
PUBLIC AUTO SUPPLIERS SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Net Liquid Assets |
3,248,707 |
|
Net Current Assets/(Liabilities) |
3,248,707 |
|
Net Tangible Assets |
3,817,257 |
|
Net Monetary Assets |
3,245,907 |
|
|
|
|
BALANCE SHEET ITEMS |
|
|
Total Liabilities |
1,588,460 |
|
Total Assets |
5,402,917 |
|
Net Assets |
3,817,257 |
|
Net Assets Backing |
3,814,457 |
|
Shareholders' Funds |
3,814,457 |
|
Total Share Capital |
1,000,000 |
|
Total Reserves |
2,814,457 |
|
|
|
|
LIQUIDITY (Times) |
|
|
Current Ratio |
3.05 |
|
|
|
|
SOLVENCY RATIOS (Times) |
|
|
Liabilities Ratio |
0.42 |
|
Assets Backing Ratio |
3.82 |
|
|
|
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
8.67 |
|
Net Profit Margin |
6.82 |
|
Return On Net Assets |
9.94 |
|
Return On Capital Employed |
9.94 |
|
Return On Shareholders' Funds/Equity |
7.83 |
|
Dividend Pay Out Ratio (Times) |
0.67 |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.47 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.77.65 |
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.