|
Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALL KURMA SDN. BHD. |
|
|
|
|
Formerly Known As : |
PINNACLE AGRI SDN. BHD. (26/08/2010) |
|
|
|
|
Registered Office : |
Tower 1, Avenue 5, Bangsar South City, Level 2, 59200 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
16.09.2008 |
|
|
|
|
Com. Reg. No.: |
832866-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Dates |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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. |
: |
832866-U |
|
COMPANY NAME |
: |
ALL KURMA SDN. BHD. |
|
FORMER NAME |
: |
PINNACLE AGRI SDN. BHD. (26/08/2010) |
|
INCORPORATION DATE |
: |
16/09/2008 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
TOWER 1, AVENUE 5, BANGSAR SOUTH CITY, LEVEL 2, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
NO. 18-20 LORONG TAMAN PERINDUSTRIAN BUKIT MINYAK 5, TAMAN
PERINDUSTRIAN BUKIT MINYAK, 14110 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
TEL.NO. |
: |
04-5021049 |
|
FAX.NO. |
: |
04-5023057 |
|
EMAIL |
: |
HTTEO@ALLKURMA.COM |
|
CONTACT PERSON |
: |
TEO HENG TATT ( DIRECTOR ) |
|
|
|
|
|
INDUSTRY CODE |
: |
47219 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF DATES |
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 10.00 DIVIDED INTO |
|
|
|
|
|
SALES |
: |
MYR 3,636,431 [2012] |
|
NET WORTH |
: |
MYR (711,291) [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
12 [2014] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
|
|
|
|
COMMERCIAL RISK |
: |
HIGH |
|
CURRENCY EXPOSURE |
: |
HIGH |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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 dates.
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 100,000.00 |
MYR 10.00 |
|
31/12/2011 |
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 |
(%) |
|
PAMELLA CHIANG + |
2, JALAN SS 21/7, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
E2522224C |
4.00 |
40.00 |
|
YURISA CHIANG + |
2, JALAN SS 21/7, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
E2928180E |
4.00 |
40.00 |
|
MR. TEO HENG TATT + |
1E, LINTANG PANTAI, JERJAK 6, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
781212-07-5333 |
2.00 |
20.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
10.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. TEO HENG TATT |
|
Address |
: |
1E, LINTANG PANTAI, JERJAK 6, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
781212-07-5333 |
|
Date of Birth |
: |
12/12/1978 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
01/10/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
PAMELLA CHIANG |
|
Address |
: |
2, JALAN SS 21/7, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
E2522224C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
18/11/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
YURISA CHIANG |
|
Address |
: |
2, JALAN SS 21/7, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
E2928180E |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
23/03/2009 |
|
|
|
|
|
1) |
Name of Subject |
: |
TEO HENG TATT |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
BAKER TILLY MONTEIRO HENG |
|
Auditor' Address |
: |
TOWER 1, AVENUE 5, BANGSAR SOUTH CITY, LEVEL 10, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. LIEW FUI LI |
|
|
IC / PP No |
: |
A1952170 |
|
|
New IC No |
: |
711016-10-5730 |
|
|
Address |
: |
23, JALAN 13/18A, TAMAN MASTIARA, BATU 5, JALAN IPOH, 51200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. WONG YOUN KIM |
|
|
IC / PP No |
: |
A1617285 |
|
|
New IC No |
: |
700823-10-5530 |
|
|
Address |
: |
1041, JALAN KUANG GUNUNG 4, TAMAN KEPONG, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection since 1990. Information
was provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
NO |
Percentage |
: |
0% |
|
Overseas |
: |
YES |
Percentage |
: |
100% |
|
Import Countries |
: |
WORLDWIDE |
|||
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 |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
CASH ON DELIVERY (COD) |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
Cash on Delivery (COD) |
|||
|
Type of Customer |
: |
WHOLESALERS |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
DATES
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
12 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of dates.
The Subject is enganged in trading dates.
The Subject imports dates from all over the world.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-5021049 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
NO. 18-20 LORONG TAMAN PERINDUSTRIAN BUKIT MINYAK 5, TAMAN PERINDUSTRIAN BUKIT MINYAK SIMPANG AMPAT 14110,
PENANG, MALAYSIA |
|
Current Address |
: |
NO. 18-20 LORONG TAMAN PERINDUSTRIAN BUKIT MINYAK 5, TAMAN
PERINDUSTRIAN BUKIT MINYAK, 14110 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 12th September 2014, we contacted one of the staff from the Subject and he
provided some information on the Subject.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2009 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
49.62% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
49.62% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.Higher losses before tax during the year could
be due to the higher operating costs incurred. Although the Subject's returns
showed positive figures it is not reflective of the true situation. The
Subject incurred losses during the year and its shareholders' funds have
turned red. The positive returns on shareholders' funds is the result of
losses divided by negative shareholders' funds. The Subject's management was
inefficient in utilising the assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
12 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. 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 |
: |
Unfavourable |
[ |
0.34 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.61 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest during
the year. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject's losses increased but its turnover showed a fluctuating
trend. This indicate the Subject was slowly losing its market share due to
its competitors. 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. The
Subject did not make any interest payment during the year. The Subject was
dependent on its shareholders' funds to finance its business needs. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : POOR |
||||||
|
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 |
|
|
47219 : Retail sale of other food products n.e.c. |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
According to the Retail Group Malaysia (RGM), the wholesale and retail
trade sector forecast to grow to 6% in year 2013. During the first quarter of
year 2013, RGM is estimating the retail industry to grow 6.9%. Many retailers
have been enjoying better sales since the government handed out cash from
mid-January of 2013 under the second round of Bantuan Rakyat 1Malaysia to
more than 12 million Malaysians. Bookstores and related retail stores have
also started enjoying rising sales since the RM250 1Malaysia Book Voucher was
distributed to 1.3 million private and public university students. Besides,
since early February 2013, handphone traders and retailers selling smartphone
accessories have started to benefit from the RM200 rebate on smartphones for
1.5 million young adults aged between 21 and 30 years with a monthly income
of not more than RM3,000. |
|
|
|
|
|
The wholesale and retail trade sector grew 6.1% in the first half of
the year 2012 driven by strong domestic consumption and the increasing number
of large format stores operating in Malaysia, including 180 foreign
hypermarkets, superstores and departmental stores as at end of August 2012.
In addition, other indicators such as imports of consumption goods were
higher by 15.2%. |
|
|
|
|
|
In 2012, the wholesale and retail trade sector growth to 5.5% driven by
higher consumption which benefited from Government initiatives under the 2012
Budget such as BR1M, Baucar Buku 1Malaysia (BB1M) and the RM100 assistance
for all primary and secondary school students. The performance of the sector
will also be supported by ongoing efforts to modernise the retail segment
under the ETP. In 2012, 500 retail shops and 50 workshops are targeted to be
modernised under the Retail Shop Transformation (TUKAR) and Automotive
Workshop Modernisation (ATOM) programmes, respectively. As at end of July
2012, 95 workshops have been modernised, surpassing the yearly target, while
393 retail shops have been modernised. |
|
|
|
|
|
Growth of the sector is anticipated to remain encouraging with ongoing
efforts by the Government to increase its contribution to the economy. Major
initiatives include increasing the number of large format stores such as
hypermarkets, superstores and departmental stores are carried out to boost
the economy. |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption, therefore the wholesale and retail sector plays a crucial role
in driving Malaysia's growth over the next decade despite the ongoing global
economic slowdown. By 2020, Malaysia's wholesale and retail sector is
expected to boost the country's total Gross National Income (GNI) by RM156
billion, creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in
2008, the Subject is a Private Limited company, focusing on trading of dates.
Having been in business for more than 5 years, the Subject has established a remarkable
clientele base for itself which has contributed to its business growth. With
a weak shareholders' backing, the Subject's capital position is weak.
Inadequate capital may be a constraint to the Subject as it limits its
ability to expand its business in future. The capital standing of the Subject
is weak. The Subject may face difficulties to expand its business compared to
other large corporation. Without a strong capital, the business expansion
opportunities of the Subject is limited. |
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
ALL KURMA SDN.
BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
TURNOVER |
3,636,431 |
4,282,365 |
4,110,017 |
3,900,430 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
3,636,431 |
4,282,365 |
4,110,017 |
3,900,430 |
|
Costs of Goods Sold |
(3,743,202) |
(3,891,340) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
(106,771) |
391,025 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(352,935) |
(25,449) |
(530,735) |
203,592 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(352,935) |
(25,449) |
(530,735) |
203,592 |
|
Taxation |
- |
(3,202) |
- |
(2,572) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(352,935) |
(28,651) |
(530,735) |
201,020 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As previously reported |
(358,366) |
(329,715) |
201,020 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
(358,366) |
(329,715) |
201,020 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(711,301) |
(358,366) |
(329,715) |
201,020 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(711,301) |
(358,366) |
(329,715) |
201,020 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
ALL KURMA SDN.
BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
FIXED ASSETS |
5,560 |
3,102 |
3,340 |
- |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
5,560 |
3,102 |
3,340 |
- |
|
|
|
|
|
|
|
Stocks |
492,474 |
951,450 |
- |
- |
|
Trade debtors |
119,864 |
10,682 |
- |
- |
|
Other debtors, deposits & prepayments |
16,301 |
17,035 |
- |
- |
|
Cash & bank balances |
493,078 |
211,411 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,121,717 |
1,190,578 |
2,115,453 |
7,149,952 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
1,127,277 |
1,193,680 |
2,118,793 |
7,149,952 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade creditors |
538,703 |
1,526,928 |
- |
- |
|
Other creditors & accruals |
15,213 |
21,914 |
- |
- |
|
Amounts owing to director |
1,281,450 |
- |
- |
- |
|
Provision for taxation |
3,202 |
3,202 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,838,568 |
1,552,044 |
2,448,506 |
6,948,930 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(716,851) |
(361,466) |
(333,053) |
201,022 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
10 |
2 |
2 |
2 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
10 |
2 |
2 |
2 |
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
(711,301) |
(358,366) |
(329,715) |
201,020 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
(711,301) |
(358,366) |
(329,715) |
201,020 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
ALL KURMA SDN.
BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
Cash |
493,078 |
211,411 |
- |
- |
|
Net Liquid Funds |
493,078 |
211,411 |
- |
- |
|
Net Liquid Assets |
(1,209,325) |
(1,312,916) |
(333,053) |
201,022 |
|
Net Current Assets/(Liabilities) |
(716,851) |
(361,466) |
(333,053) |
201,022 |
|
Net Tangible Assets |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
Net Monetary Assets |
(1,209,325) |
(1,312,916) |
(333,053) |
201,022 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
Total Borrowings |
0 |
0 |
- |
- |
|
Total Liabilities |
1,838,568 |
1,552,044 |
2,448,506 |
6,948,930 |
|
Total Assets |
1,127,277 |
1,193,680 |
2,118,793 |
7,149,952 |
|
Net Assets |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
Net Assets Backing |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
Shareholders' Funds |
(711,291) |
(358,364) |
(329,713) |
201,022 |
|
Total Share Capital |
10 |
2 |
2 |
2 |
|
Total Reserves |
(711,301) |
(358,366) |
(329,715) |
201,020 |
|
LIQUIDITY (Times) |
|
|
|
|
|
Cash Ratio |
0.27 |
0.14 |
- |
- |
|
Liquid Ratio |
0.34 |
0.15 |
- |
- |
|
Current Ratio |
0.61 |
0.77 |
0.86 |
1.03 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock Ratio |
49 |
81 |
- |
- |
|
Debtors Ratio |
12 |
1 |
- |
- |
|
Creditors Ratio |
53 |
143 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
- |
- |
|
Liabilities Ratio |
(2.58) |
(4.33) |
(7.43) |
34.57 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
- |
|
Assets Backing Ratio |
(71,129.10) |
(179,182.00) |
(164,856.50) |
100,511.00 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
(9.71) |
(0.59) |
(12.91) |
5.22 |
|
Net Profit Margin |
(9.71) |
(0.67) |
(12.91) |
5.15 |
|
Return On Net Assets |
49.62 |
7.10 |
160.97 |
101.28 |
|
Return On Capital Employed |
49.62 |
7.10 |
160.97 |
101.28 |
|
Return On Shareholders' Funds/Equity |
49.62 |
7.99 |
160.97 |
100.00 |
|
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.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.