|
Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CEMERLANG RAYA (M) SDN. BHD. |
|
|
|
|
Registered Office : |
1-2, Jalan 1/64a, Off Jalan Ipoh, (2nd Floor), 50350 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.04.1986 |
|
|
|
|
Com. Reg. No.: |
152556-T |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Household Cleaning Products |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Malaysia. |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister NAJIB,
Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and
policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with sustained budget deficits, has forced
Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions
in energy and sugar subsidies and the announcement of the 2015 implementation
of a 6% goods and services tax. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies
about 32% of government revenue in 2013. Bank Negara Malaysia (central bank)
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia's exposure to riskier financial instruments and the
global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall
in commodity prices or a general slowdown in global economic activity because
exports are a major component of GDP. In order to attract increased investment,
NAJIB earlier raised possible revisions to the special economic and social
preferences accorded to ethnic Malays under the New Economic Policy of 1970,
but retreated in 2013 after he encountered significant opposition from Malay
nationalists and other vested interests. In September 2013 NAJIB launched the
new Bumiputra Economic Empowerment Program (BEEP), policies that favor and
advance the economic condition of ethnic Malays
|
Source
: CIA |
|
REGISTRATION NO. |
: |
152556-T |
||||
|
COMPANY NAME |
: |
CEMERLANG RAYA (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
15/04/1986 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
1-2, JALAN 1/64A, OFF JALAN IPOH, (2ND FLOOR), 50350 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 2, RAWANG INTERGRATED INDUSTRIAL PARK, OFF JALAN BATU ARANG, 48000
RAWANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-60919588 |
||||
|
FAX.NO. |
: |
03-60919619 |
||||
|
EMAIL |
: |
RAYACO@RAYACO.COM.MY |
||||
|
WEB SITE |
: |
WWW.RAYACO.COM.MY |
||||
|
CONTACT PERSON |
: |
TAN KIM CHUAN ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46492 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF HOUSEHOLD CLEANING PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 4,800,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 11,796,710 [2012] |
||||
|
NET WORTH |
: |
MYR 9,441,497 [2012] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
13 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, sue
or be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act, 1965 and the company must file its annual
returns, together with its financial statements with the Registrar of
Companies.
The Subject is principally engaged in the (as a / as an) trading of
household cleaning products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 5,000,000.00 |
MYR 4,800,000.00 |
|
18/11/1999 |
MYR 5,000,000.00 |
MYR 4,800,000.00 |
|
15/12/1998 |
MYR 5,000,000.00 |
MYR 3,800,000.00 |
|
15/12/1998 |
MYR 5,000,000.00 |
MYR 3,800,000.00 |
|
07/04/1998 |
MYR 5,000,000.00 |
MYR 3,300,000.00 |
|
19/09/1997 |
MYR 5,000,000.00 |
MYR 2,000,000.00 |
|
16/09/1997 |
MYR 5,000,000.00 |
MYR 1,714,285.00 |
|
20/09/1996 |
MYR 5,000,000.00 |
MYR 1,500,000.00 |
|
05/12/1994 |
MYR 5,000,000.00 |
MYR 1,200,000.00 |
|
20/03/1993 |
MYR 1,000,000.00 |
MYR 900,000.00 |
|
16/08/1991 |
MYR 1,000,000.00 |
MYR 700,000.00 |
|
19/06/1990 |
MYR 1,000,000.00 |
MYR 600,000.00 |
|
15/07/1989 |
MYR 1,000,000.00 |
MYR 500,000.00 |
|
03/08/1987 |
MYR 1,000,000.00 |
MYR 400,000.00 |
|
26/06/1987 |
MYR 100,000.00 |
MYR 100,000.00 |
|
07/05/1986 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. TAN KIM CHUAN + |
LOT 3, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
501216-10-5385 |
3,588,572.00 |
74.76 |
|
MS. YAP YU LIAN + |
LOT 3, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
490820-10-5858 3416733 |
311,428.00 |
6.49 |
|
MR. TAN JENN UEI |
LOT 2, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
830203-14-5975 |
300,000.00 |
6.25 |
|
MR. TAN JENN DONG |
LOT 2, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
841120-14-6431 |
300,000.00 |
6.25 |
|
MR. TAN JENN SHYONG |
LOT 2, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
810924-14-5977 |
300,000.00 |
6.25 |
|
|
|
|
--------------- |
------ |
|
|
|
|
4,800,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. YAP YU LIAN |
|
Address |
: |
LOT 3, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
3416733 |
|
New IC No |
: |
490820-10-5858 |
|
Date of Birth |
: |
20/08/1949 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/02/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. TAN KIM CHUAN |
|
Address |
: |
LOT 3, JALAN R2/3, RAWANG INTEGRATED INDUSTRIAL PARK, OFF JALAN BATU
ARANG, 48000 RAWANG, SELANGOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
501216-10-5385 |
|
Date of Birth |
: |
16/12/1950 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/04/1986 |
|
|
|
|
|
1) |
Name of Subject |
: |
TAN KIM CHUAN |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
OOI, PARTHIBAN & CO. |
|
Auditor' Address |
: |
73, JALAN BULAN U5/9, SUBANG 2, SEKSYEN U5, 40150 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MR. LIEW PENG PENG |
|
|
IC / PP No |
: |
5847444 |
|
|
New IC No |
: |
600131-08-5323 |
|
|
Address |
: |
25, JALAN INDAH 1/27, TAMAN UNIVERSITI INDAH, 43300 BALAKONG,
SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HONG LEONG BANK BHD |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
01/12/1987 |
N/A |
PUBLIC BANK BHD |
MYR 500,000.00 |
Satisfied |
|
2 |
22/09/1988 |
N/A |
STANDARD CHARTERED BANKMALAYSIA BERHAD |
- |
Satisfied |
|
4 |
20/12/1990 |
N/A |
MUI BANK BERHAD |
MYR 70,000.00 |
Satisfied |
|
5 |
20/12/1990 |
N/A |
MUI BANK BERHAD |
MYR 70,000.00 |
Satisfied |
|
3 |
31/12/1991 |
N/A |
STANDARD CHARTERED BANKMALAYSIA BERHAD |
MYR 600,000.00 |
Satisfied |
|
6 |
03/10/1992 |
N/A |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 70,000.00 |
Satisfied |
|
7 |
17/02/1993 |
N/A |
MUI BANK BERHAD |
MYR 100,000.00 |
Satisfied |
|
8 |
20/09/1994 |
N/A |
PUBLIC BANK BERHAD |
MYR 155,000.00 |
Satisfied |
|
9 |
01/12/1994 |
N/A |
HONG LEONG BANK BERHAD |
- |
Satisfied |
|
10 |
18/08/1995 |
N/A |
HONG LEONG BANK BERHAD |
- |
Satisfied |
|
11 |
18/08/1995 |
OPEN CHARGE |
HONG LEONG BANK BERHAD |
MYR 1.00 |
Satisfied |
|
12 |
21/11/1996 |
OPEN CHARGE |
HONG LEONG BANK BERHAD |
MYR 2,250,000.00 |
Unsatisfied |
|
13 |
16/01/1998 |
N/A |
PUBLIC BANK BERHAD |
MYR 7,000,000.00 |
Satisfied |
|
14 |
18/07/2002 |
OPEN CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
15 |
14/04/2010 |
OPEN CHARGE |
HONG LEONG BANK BERHAD |
- |
Satisfied |
|
16 |
20/09/2012 |
FACILITIES AGREEMENT |
PUBLIC BANK BHD |
- |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation. Our databank consists of 99% of the
wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
|||
|
Local |
: |
YES |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
ASIA |
|
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 |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
SINGAPORE |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DEPARTMENTAL STORES,SUPERMARKETS |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
CLEANING PRODUCTS, HARDWARE PRODUCTS AND OTHERS
|
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2010 |
2009 |
|
|
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
COMPANY |
13 |
10 |
10 |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of household
cleaning products.
The SC is a trading company of household products.
The SC sells a wide range of products such as cleaning products such as mops,
toiletries products and hardware products such as hand tools, cutting tools and
others.
The SC's related company is Perusahaan Cemerlang Raya Sdn Bhd which undertakes
manufacturing of household products ushc as broom, brush, mop, scouring pad
with sponge, household sponge, household plastic product etc.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0360919588/03 609 18630 |
|
Current Telephone Number |
: |
03-60919588 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
LOT2JLN R2/3 RAWANG INTEGRATED, INDUSTRIAL PARK, OFF JLN, BATU ARANG 48000, RAWANG, SELANGOR, MALAYSIA. |
|
Current Address |
: |
LOT 2, RAWANG INTERGRATED INDUSTRIAL PARK, OFF JALAN BATU ARANG, 48000
RAWANG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 8th September 2014, we contacted one of the staff from the Subject and she
provided some information on the Subject.
The address provided belongs to the Subject also.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
20.58% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
6.70% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
3.81% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
5.96% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.The
Subject's management have been efficient in controlling 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 |
: |
Unfavourable |
[ |
156 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
160 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
135 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The Subject's debtors
ratio was high. The Subject should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.75 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.09 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working capital
deficiency. If the Subject cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
2.35 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.73 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest payment.
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 : |
|
|
|
|
|
|
|
Generally, the Subject's performance has improved with higher turnover
and profit. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. If there is a
fall in the Subject's profit or any increase in interest rate, the Subject
may not be able to generate sufficient cash-flow to service its interest. 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 |
||||||
|
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 |
|||||
|
MSIC CODE |
|
|
46492 : Wholesale of household appliances |
|
|
|
|
|
INDUSTRY : |
FURNITURE & FIXTURES |
|
|
|
|
|
|
|
Malaysia is a leading furniture exporter and was ranked as the 8th world
furniture exporter in 2011. Exports account for 67% of domestic production.
Exports are mainly destined for the United States, Japan, Singapore,
Australia and the United Kingdom, which together absorbed almost 60% of the
total.Government target growth of 6.5% where it estimated to reach RM53
billion by 2020. |
|
|
|
|
|
In April 2012, rubber-wood prices per tonne hovers between RM1,800 to
RM2,000, compared to RM1,500 to RM1,800 per tonne in November 2011. At
January 2012, US purchase Malaysian made furniture products at the value of
RM163million compared with RM158.8million in January 2011, an increase of
about 3%. Eventhough, Malaysia External Trade Corporation (MATRADE) reported
In January 2012, where Malaysia's furniture export total sales came down by
14.7% to RM571million in January 2012 from RM670.6million in January 2011 due
to the shorter working days in January 2012 and also less orders from key
customers such as Japan and Singapore. Japan imported about RM64.2million
worth of furniture products from Malaysia in January 2012, compared to
RM80.8million in January 2011, down by 20.6%. |
|
|
|
|
|
In 2012, Malaysian furniture was exported to 199 countries worldwide
and was valued at RM8billion, increasing 4.3% from the year before with a 10.9%
increase in furniture exports to the United States. The Ministry of
Plantation Industries and Commodities aims to surpass in year 2013, the RM8
billion mark for total Malaysian furniture exported in 2012. |
|
|
|
|
|
Under the the National Timber Industry Policy (MTIP), the government
has targeted RM16 billion furniture exports by 2020. The value of Malaysian
furniture exports represented 3% of total world exports. Demand for Malaysian
furniture increasing due to rising afflunce and sophistication in customer
expectation. Malaysia furniture stand with its original design as well its
good work ethics in world furniture market. |
|
|
|
|
|
The furniture industry is highly export oriented with over 90% of its production
are destined for overseas market which accounted 3% value of global
exports.The furniture industry’s adoption of high technology production
manufacturing capabilities coupled with greater emphasis on design, market
expansion and aggressive promotional efforts, the Malaysian furniture
industry has the potential to increase exports for a bigger global market
share. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
Incorporated in 1986, the Subject is a
Private Limited company, focusing on trading of household cleaning products.
The Subject has been in business for over two decades. It has built up a
strong clientele base and good reputation will enable the Subject to further
enhance its business in the near term. The Subject is expected to enjoy
a stable market shares. The capital standing of the Subject is fair. With an
adequate share capital, the Subject has the potential of expanding its
business in future. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
CEMERLANG RAYA (M) SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
|
|
|
|
TURNOVER |
11,796,710 |
9,783,681 |
|
|
---------------- |
---------------- |
|
Total Turnover |
11,796,710 |
9,783,681 |
|
Costs of Goods Sold |
(8,559,135) |
(6,787,894) |
|
|
---------------- |
---------------- |
|
Gross Profit |
3,237,575 |
2,995,787 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
422,787 |
396,254 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
422,787 |
396,254 |
|
Taxation |
(63,098) |
(67,787) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
359,689 |
328,467 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
359,689 |
328,467 |
|
Extraordinary items |
- |
471,019 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
359,689 |
799,486 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
4,281,808 |
3,482,322 |
|
Prior year adjustment |
- |
(471,019) |
|
|
---------------- |
---------------- |
|
As restated |
4,281,808 |
3,011,303 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,641,497 |
3,810,789 |
|
TRANSFER TO RESERVES - General |
- |
471,019 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,641,497 |
4,281,808 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Bank overdraft |
183,227 |
194,300 |
|
Bankers' acceptance |
83,460 |
45,381 |
|
Hire purchase |
10,475 |
4,480 |
|
Term loan / Borrowing |
35,274 |
- |
|
|
---------------- |
---------------- |
|
|
312,436 |
244,161 |
|
|
============= |
============= |
|
CEMERLANG RAYA (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
11,040,735 |
9,621,847 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
11,040,735 |
9,621,847 |
|
|
|
|
|
Stocks |
5,050,044 |
3,327,288 |
|
Trade debtors |
5,184,586 |
4,346,932 |
|
Other debtors, deposits & prepayments |
5,895,923 |
5,069,930 |
|
Cash & bank balances |
4,896 |
30,526 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
16,135,449 |
12,774,676 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
27,176,184 |
22,396,523 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
3,165,725 |
3,054,892 |
|
Other creditors & accruals |
416,288 |
28,312 |
|
Hire purchase & lease creditors |
155,549 |
62,217 |
|
Bank overdraft |
3,723,267 |
2,567,451 |
|
Short term borrowings/Term loans |
89,196 |
- |
|
Amounts owing to director |
7,295,524 |
7,601,843 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
14,845,549 |
13,314,715 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,289,900 |
(540,039) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
12,330,635 |
9,081,808 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
4,800,000 |
4,800,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
4,800,000 |
4,800,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
4,641,497 |
4,281,808 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
4,641,497 |
4,281,808 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
9,441,497 |
9,081,808 |
|
|
|
|
|
Long term loans |
2,889,138 |
- |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
2,889,138 |
- |
|
|
---------------- |
---------------- |
|
|
12,330,635 |
9,081,808 |
|
|
============= |
============= |
|
|
|
|
|
CEMERLANG RAYA (M) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
4,896 |
30,526 |
|
Net Liquid Funds |
(3,718,371) |
(2,536,925) |
|
Net Liquid Assets |
(3,760,144) |
(3,867,327) |
|
Net Current Assets/(Liabilities) |
1,289,900 |
(540,039) |
|
Net Tangible Assets |
12,330,635 |
9,081,808 |
|
Net Monetary Assets |
(6,649,282) |
(3,867,327) |
|
|
|
|
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
6,857,150 |
2,629,668 |
|
Total Liabilities |
17,734,687 |
13,314,715 |
|
Total Assets |
27,176,184 |
22,396,523 |
|
Net Assets |
12,330,635 |
9,081,808 |
|
Net Assets Backing |
9,441,497 |
9,081,808 |
|
Shareholders' Funds |
9,441,497 |
9,081,808 |
|
Total Share Capital |
4,800,000 |
4,800,000 |
|
Total Reserves |
4,641,497 |
4,281,808 |
|
|
|
|
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.00 |
0.00 |
|
Liquid Ratio |
0.75 |
0.71 |
|
Current Ratio |
1.09 |
0.96 |
|
|
|
|
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
156 |
124 |
|
Debtors Ratio |
160 |
162 |
|
Creditors Ratio |
135 |
164 |
|
|
|
|
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.73 |
0.29 |
|
Liabilities Ratio |
1.88 |
1.47 |
|
Times Interest Earned Ratio |
2.35 |
2.62 |
|
Assets Backing Ratio |
2.57 |
1.89 |
|
|
|
|
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
3.58 |
4.05 |
|
Net Profit Margin |
3.05 |
3.36 |
|
Return On Net Assets |
5.96 |
7.05 |
|
Return On Capital Employed |
4.54 |
5.47 |
|
Return On Shareholders' Funds/Equity |
3.81 |
3.62 |
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.98.14 |
|
Euro |
1 |
Rs.78.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.