|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRG INDUSTRIAL MINERALS SDN. BHD. |
|
|
|
|
Registered Office : |
54B, Damai Complex, Jalan Lumut, 50400 Kuala Lumpur, Wilayah Persekutuan, |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.04.2010 |
|
|
|
|
Com. Reg. No.: |
897210-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the silica mining |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Yet to commence its business operation |
|
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 – 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 Malay
|
Source
: CIA |
|
REGISTRATION NO. |
: |
897210-M |
|
COMPANY NAME |
: |
TRG INDUSTRIAL MINERALS SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/04/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
54B, DAMAI COMPLEX, JALAN LUMUT, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
E-3A-06, CAPITAL 5, OASIS SQUARE 2, JALAN PJU1A/7A, OASIS DAMANSARA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-78317655 |
|
FAX.NO. |
: |
03-787313944 |
|
CONTACT PERSON |
: |
BAHARUDDIN IBNI SULTAN MAHMUD ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
08999 |
|
PRINCIPAL ACTIVITY |
: |
SILICA MINING |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
MYR (1,021,406) [2012] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
NOT YET DETERMINED |
|
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) silica mining.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is NAVALDIAN HOLDINGS SDN. BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
23/06/2010 |
MYR 1,000,000.00 |
MYR 500,000.00 |
|
04/04/2010 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NAVALDIAN HOLDINGS SDN. BHD. |
E02-02, JALAN SS 15/4G, SUBANG SQUARE-EAST WING, 47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
937486U |
600,000.00 |
60.00 |
|
TENGKU BAHARUDDIN IBNI SULTAN MAHMUD + |
ISTANA BADARIAH, 20500 KUALA TERENGGANU, TERENGGANU, MALAYSIA. |
761220-11-5069 |
80,000.00 |
8.00 |
|
MR. MOHD RAZIEDY BIN NAWI |
36-A, KAMPUNG KUALA ABANG, 23050 DUNGUN, TERENGGANU, MALAYSIA. |
820607-11-5175 |
320,000.00 |
32.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SURENDREN A/L NALLIANNEN |
|
Address |
: |
198, JALAN SULTAN ABDUL SAMAD, TINGKAT 1, 42700 BANTING, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A2267963 |
|
New IC No |
: |
720801-10-5773 |
|
Date of Birth |
: |
01/08/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
17/03/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. MANJEET SINGH DHILLON |
|
Address |
: |
20, JALAN DAMANSARA PERMAI, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
420713-06-5033 |
|
Date of Birth |
: |
13/07/1942 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/03/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
TENGKU BAHARUDDIN IBNI SULTAN MAHMUD |
|
Address |
: |
ISTANA BADARIAH, 20500 KUALA TERENGGANU, TERENGGANU, MALAYSIA. |
|
New IC No |
: |
761220-11-5069 |
|
Date of Birth |
: |
20/12/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
17/03/2011 |
|
1) |
Name of Subject |
: |
BAHARUDDIN IBNI SULTAN MAHMUD |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
MESSRS VIRU, GOONA & ASSOCIATES |
|
Auditor' Address |
: |
43-1, JALAN THAMBAPILLAI, BRICKFIELDS, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. THANABALASINGAM A/L S.MANICKAM |
|
IC / PP No |
: |
5838921 |
|
|
New IC No |
: |
600122-10-6137 |
|
|
Address |
: |
21, U6/2B, DESA SUBANG PERMAI, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. HOH LEONG CHING |
|
IC / PP No |
: |
A0654781 |
|
|
New IC No |
: |
670228-10-5830 |
|
|
Address |
: |
20, JALAN PERDANA 2/6, TAMAN PANDAN PERDANA, 55300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
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 its suppliers.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its operation.
OPERATIONS
|
|
Services |
: |
SILICA MINING |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) silica mining.
The Subject is engaged in the silica mining project.
The Subject refused to disclose further information on its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78317655 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
E-3A-06, CAPITAL 5, OASIS SQUARE 2, JALAN PJU1A/7A, OASIS DAMANSARA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
N/A |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees and bankers.
According to the subject, the mining operation will only start by next year.
FINANCIAL
ANALYSIS
|
|
The Subject's turnover was nil during the year indicate that it was inactive. As a result, we are unable to comment on its financial performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
|
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK |
|
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 |
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
08999 : Other mining and quarrying n.e.c. |
|
|
INDUSTRY : |
OIL & GAS |
|
According to Malaysian Gas Association President, the oil and gas sector in year 2013 is expected to be fiscally positive, despite declining demand for the commodity on global markets. According to the Organisation of the Petroleum Exporting Countries (OPEC), the global oil demand growth possibly falling short in year 2013, due to Europe's troubled economy and the risk of weakness in faster growing regions such as China and India. |
|
|
The gas production forecasted to increase 4.3% to 6,530 million standard cubic feet per day in 2013. Petronas' record capital expenditure fuels forecasted of a robust three-year earnings per share compounded annual growth rate of 19.1% for the Malaysian oil and gas portfolio which is far superior than Singapore's 5.7% and Thailand's 8%. |
|
|
Malaysia's oil export revenues estimated to rise around US$8.5billion by 2016. The export value of gas also expected to rise US$14.2billion by 2016. Combined crude oil and gas export revenues are therefore expected to be US$22.7billion in 2016. Rising on value of Oil & Gas industry can drive Malaysia to put 2.6% on global GDP growth. The Oil, Gas and Energy industry is targetted to raise total GNI contribution to RM241 billion by 2020. |
|
|
In 2012, about US$20 billion worth of investment in oil and gas projects including the Petronas Refinery and Petrochemical Integrated Development (RAPID), oil and gas storage terminal in Johor, Regasification Plant in Melaka as well as gas terminal in Sipitang, Sabah. |
|
|
Meanwhile, the Global Incentive for Trading (GIFT) programme will be enhanced with a 100% income tax exemption on statutory income for the first three years of operations for liquedied natural gas (LNG) trading companies. The GIFT programme was introduced in 2011 with tax incentive at the rate of 3% in view of the global demand for the liquedied natural gas (LNG), which is expected to reach 400 million tonnes a year in 2025. |
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|
According National Key Economic Areas (NKEAs), growth in the oil and gas expected positive. International Trade and Industry department also believe that investments in the oil and gas sector will continue to remain strong and spur private investments, surpassing numbers in the manufacturing sector. |
|
|
According to Malaysian Oil and Gas Services Council president, the next few years will present a period of great opportunities for the local oil and gas services sector as a direct impact of the major investments made by Petronas. With the number of projects in the coming years that will keep the industry busy, it will also be an opportunity for the local services sector to be creative and innovative, and promote Malaysia as a centre of research and development. |
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The oil and gas industry has always been a global industry, and the Malaysian services sectors are now familiar with working to global standards as part of the normal business delivery, therefore there is no better time to grow into international players on the platform of the boost of activities locally and in the region in the coming years. |
|
|
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) |
|
TRG INDUSTRIAL MINERALS SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
|
PROFIT/(LOSS) FROM OPERATIONS |
(1,549,956) |
(445,945) |
(25,505) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(1,549,956) |
(445,945) |
(25,505) |
|
Taxation |
56 |
- |
(56) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(1,549,900) |
(445,945) |
(25,561) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
(471,506) |
(25,561) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
(471,506) |
(25,561) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(2,021,406) |
(471,506) |
(25,561) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(2,021,406) |
(471,506) |
(25,561) |
|
============= |
============= |
============= |
|
|
BALANCE SHEET |
|
TRG INDUSTRIAL MINERALS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
114,997 |
933 |
1,042 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
114,997 |
933 |
1,042 |
|
Other debtors, deposits & prepayments |
48,819 |
23,700 |
- |
|
Amount due from director |
- |
483,711 |
- |
|
Cash & bank balances |
4,091 |
36,976 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
52,910 |
544,387 |
503,143 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
167,907 |
545,320 |
504,185 |
|
============= |
============= |
============= |
|
|
Other creditors & accruals |
63,146 |
16,770 |
- |
|
Amounts owing to director |
1,126,167 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,189,313 |
16,770 |
29,690 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(1,136,403) |
527,617 |
473,453 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(1,021,406) |
528,550 |
474,495 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
500,000 |
|
Retained profit/(loss) carried forward |
(2,021,406) |
(471,506) |
(25,561) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(2,021,406) |
(471,506) |
(25,561) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(1,021,406) |
528,494 |
474,439 |
|
Deferred taxation |
- |
56 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
56 |
56 |
|
---------------- |
---------------- |
---------------- |
|
|
(1,021,406) |
528,550 |
474,495 |
|
|
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
TRG INDUSTRIAL MINERALS SDN. BHD. |
|
TYPES OF FUNDS |
|||
|
Cash |
4,091 |
36,976 |
- |
|
Net Liquid Funds |
4,091 |
36,976 |
- |
|
Net Liquid Assets |
(1,136,403) |
527,617 |
473,453 |
|
Net Current Assets/(Liabilities) |
(1,136,403) |
527,617 |
473,453 |
|
Net Tangible Assets |
(1,021,406) |
528,550 |
474,495 |
|
Net Monetary Assets |
(1,136,403) |
527,561 |
473,397 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
1,189,313 |
16,826 |
29,746 |
|
Total Assets |
167,907 |
545,320 |
504,185 |
|
Net Assets |
(1,021,406) |
528,550 |
474,495 |
|
Net Assets Backing |
(1,021,406) |
528,494 |
474,439 |
|
Shareholders' Funds |
(1,021,406) |
528,494 |
474,439 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
500,000 |
|
Total Reserves |
(2,021,406) |
(471,506) |
(25,561) |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.00 |
2.20 |
- |
|
Liquid Ratio |
0.04 |
32.46 |
- |
|
Current Ratio |
0.04 |
32.46 |
16.95 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
- |
|
Debtors Ratio |
0 |
0 |
- |
|
Creditors Ratio |
0 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
(1.16) |
0.03 |
0.06 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
|
Assets Backing Ratio |
(1.02) |
0.53 |
0.95 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.00 |
0.00 |
- |
|
Net Profit Margin |
0.00 |
0.00 |
- |
|
Return On Net Assets |
151.75 |
(84.37) |
(5.38) |
|
Return On Capital Employed |
151.75 |
(84.37) |
(5.38) |
|
Return On Shareholders' Funds/Equity |
151.74 |
(84.38) |
(5.39) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.