|
|
REGISTRATION
NO.
|
:
|
894408-X
|
|
COMPANY NAME
|
:
|
NOVE METAL
RECYCLING SDN. BHD.
|
|
FORMER NAME
|
:
|
UNIVERSAL
SOLID METAL GREEN RECYCLING SDN. BHD. (24/03/2011)
|
|
INCORPORATION
DATE
|
:
|
22/03/2010
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
LOT 2-2-43,
WISMA RAMPAI, JALAN 34/26, RAMPAI TOWN CENTRE, SECOND FLOOR, 53300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
BUSINESS
ADDRESS
|
:
|
29, OFF BATU 3
1/2, JALAN SUNGAI BESI, 57100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-79824673
|
|
FAX.NO.
|
:
|
03-79804320
|
|
EMAIL
|
:
|
BASKARAN@NOVEMETAL.COM
|
|
CONTACT PERSON
|
:
|
NOR SALIZA
BINTI RAZALLI ( DIRECTOR )
|
|
|
|
|
|
INDUSTRY CODE
|
:
|
46698
|
|
PRINCIPAL
ACTIVITY
|
:
|
WHOLESALE OF
RECYCLING OF ALL KIND OF FERROUS AND NON-FERROUS METAL SCRAPS
|
|
AUTHORISED
CAPITAL
|
:
|
MYR 1,000,000.00
DIVIDED INTO
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR
1,000,000.00 DIVIDED INTO
ORDINARY SHARES 1,000,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
|
SALES
|
:
|
MYR 80,137,669
[2012]
|
|
NET WORTH
|
:
|
MYR 1,731,344
[2012]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER
CHECK
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
MODERATE
|
|
CURRENCY
EXPOSURE
|
:
|
NIL
|
|
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) wholesale of recycling of all kind of ferrous and non-ferrous
metal scraps.
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
1,000,000.00
|
MYR
1,000,000.00
|
|
22/03/2010
|
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
|
(%)
|
|
MS. M. RAMANEMAH
A/P S. MURUGIAH +
|
50, JALAN
TERATAI 2/7D, TAMAN BUKIT TERATAI, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
660514-10-7264
A0423504
|
650,000.00
|
65.00
|
|
MS. NOR SALIZA
BINTI RAZALLI +
|
4, JALAN BRP 2/1-I,
ASCOT HILL, BUKIT RAHMAN PUTRA, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA.
|
740102-08-5556
|
350,000.00
|
35.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,000,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
MS. NOR SALIZA
BINTI RAZALLI
|
|
Address
|
:
|
4, JALAN BRP
2/1-I, ASCOT HILL, BUKIT RAHMAN PUTRA, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA.
|
|
|
|
|
|
New IC No
|
:
|
740102-08-5556
|
|
Date of Birth
|
:
|
02/01/1974
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
23/03/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
MS. M.
RAMANEMAH A/P S. MURUGIAH
|
|
Address
|
:
|
50, JALAN TERATAI
2/7D, TAMAN BUKIT TERATAI, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
IC / PP No
|
:
|
A0423504
|
|
New IC No
|
:
|
660514-10-7264
|
|
Date of Birth
|
:
|
14/05/1966
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
23/03/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
NOR SALIZA
BINTI RAZALLI
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of
Subject
|
:
|
SURESH
|
|
|
Position
|
:
|
SALES MANAGER
|
|
|
|
|
|
|
Auditor
|
:
|
MESSRS SY LEE
& CO.
|
|
Auditor'
Address
|
:
|
29-1, JALAN
46A/26, TAMAN SRI RAMPAI, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
MR. TAN TECK
CHUAN
|
|
|
IC / PP No
|
:
|
A2793886
|
|
|
New IC No
|
:
|
741026-01-6069
|
|
|
Address
|
:
|
C-3-5, WANGSA
METROVIEW CONDOMINIUM, SECTION 2, WANGSA MAJU, 53300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company
Secretary
|
:
|
MS. LEE SWEE
LING
|
|
|
IC / PP No
|
:
|
A3163954
|
|
|
New IC No
|
:
|
751215-14-5926
|
|
|
Address
|
:
|
A-2-29, VISTA BAYU
APARTMENT, JALAN BATU UNJUR 9, TAMAN BAYU PERDANA, 41200 KLANG, SELANGOR,
MALAYSIA.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST
SUBJECT
|
* We have checked through the Subject in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection since 1990. Information was
provided by third party where the debt amount can be disputed. Please check
with creditors for confirmation as alleged debts may have been paid since
recorded or are being disputed.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW
MATERIALS:
|
|
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Overseas
|
:
|
NO
|
Percentage
|
:
|
0%
|
|
|
|
|
|
|
|
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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded
|
:
|
|
FERROUS AND
NON-FERROUS METAL SCRAPS
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
recycling of all kind of ferrous and non-ferrous metal scraps.
The Subject refused to disclose its Business Operation.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
03-79824673
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address
Provided by Client
|
:
|
NO 29 JALAN BESI
OFF BATU 31/2 JALAN SUNGAI BEST 57100 KUALA LUMPUR
|
|
Current
Address
|
:
|
29, OFF BATU 3
1/2, JALAN SUNGAI BESI, 57100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Latest
Financial Accounts
|
:
|
YES
|
Other Investigations
On 22nd September 2014, we contacted one of the staff from the Subject and
she provided limited information on the Subject.
The address provided is incomplete.
The Subject refused to disclose its number of employees and its banker.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Increased
|
[
|
(0.00%)
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Decreased
|
[
|
(16,977.82%)
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Favourable
|
[
|
42.56%
|
]
|
|
|
Return on Net
Assets
|
:
|
Favourable
|
[
|
48.55%
|
]
|
|
|
|
|
|
|
|
|
|
|
The higher
turnover could be attributed to the favourable market condition.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. Generally the Subject was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the Subject's management was efficient in utilising
the assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
4 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
6 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
13 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
|
[
|
0.20 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
0.28 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 higher
turnover had helped to reduce the Subject's losses. 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 : FAIR
|
|
|
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
|
|
|
|
|
|
|
# Based On
Manufacturing Production Index
|
|
MSIC CODE
|
|
46698 : Wholesale
of metal and non-metal waste and scrap and materials for recycling
|
|
|
|
|
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
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
Incorporated in 2010, the Subject is a Private Limited company, focusing on
wholesale of recycling of all kind of ferrous and non-ferrous metal scraps.
The Subject has been in business for less than 5 years and it has slowly
been building up contact with its clients while competing in the industry.
The capital standing of the Subject is fair. With an adequate share
capital, the Subject has the potential of expanding its business in future.
Over the years, the Subject should have build up its clientele base and
received supports from its regular customers. Investigation revealed that
the Subject's interest lies mostly in the local market. Thus, any adverse
changes to the local economy might have a negative impact on the Subject's
business performance. Overall, we regard that the Subject's management
capability is average. This indicates that the Subject has greater
potential to improve its business performance and raising income for the
Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Based on the higher profitability,
the Subject has generated a favourable return based on its existing
shareholders' funds which indicated that the management was efficient in
utilising its funds to generate income. Due to its weak liquidity position,
the Subject may face working capital deficiency in meeting its short term
financial obligations if no fresh capital are injected into the Subject.
Being a zero geared company, the Subject virtually has no financial risk as
it is mainly dependent on its internal funds to finance its business. Given
a positive net worth standing at MYR 1,731,344, the Subject should be able
to maintain its business in the near terms.
We noted that the Subject's supplies are solely sourced from local market.
Being highly dependent on a limited number of suppliers could lead to
delays, lost of revenue and increased costs if such resources become
unavailable or shortage.
The Subject's payment habit is average. With its adequate working capital,
the Subject should be able to pay its short term debts.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the Subject is expected to benefit from the
favourable outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
normally.
|
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
NOVE METAL
RECYCLING SDN. BHD.
|
|
Financial Year
End
|
2012-03-31
|
2011-03-31
|
|
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
|
80,137,669
|
-
|
|
|
----------------
|
----------------
|
|
Total Turnover
|
80,137,669
|
-
|
|
Costs of Goods
Sold
|
(73,379,162)
|
-
|
|
|
----------------
|
----------------
|
|
Gross Profit
|
6,758,507
|
-
|
|
|
----------------
|
----------------
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
938,407
|
(5,560)
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
938,407
|
(5,560)
|
|
Taxation
|
(201,503)
|
-
|
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
736,904
|
(5,560)
|
|
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD
|
|
|
|
As previously
reported
|
(5,560)
|
-
|
|
|
----------------
|
----------------
|
|
As restated
|
(5,560)
|
-
|
|
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
731,344
|
(5,560)
|
|
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
731,344
|
(5,560)
|
|
|
=============
|
=============
|
|
|
|
|
|
|
|
|
|
NOVE METAL
RECYCLING SDN. BHD.
|
|
ASSETS EMPLOYED:
|
|
|
|
FIXED ASSETS
|
9,252,810
|
-
|
|
|
|
|
|
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
9,252,810
|
-
|
|
|
|
|
|
Stocks
|
911,419
|
-
|
|
Trade debtors
|
1,342,014
|
-
|
|
Other debtors,
deposits & prepayments
|
182,869
|
-
|
|
Cash &
bank balances
|
481,010
|
2
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
2,917,312
|
2
|
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
12,170,122
|
2
|
|
|
=============
|
=============
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
Trade
creditors
|
2,556,676
|
-
|
|
Other
creditors & accruals
|
4,112,999
|
560
|
|
Amounts owing
to director
|
3,567,600
|
5,000
|
|
|
----------------
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
10,237,275
|
5,560
|
|
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
(7,319,963)
|
(5,558)
|
|
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
1,932,847
|
(5,558)
|
|
|
=============
|
=============
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share
capital
|
1,000,000
|
2
|
|
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
1,000,000
|
2
|
|
|
|
|
|
Retained
profit/(loss) carried forward
|
731,344
|
(5,560)
|
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
731,344
|
(5,560)
|
|
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
1,731,344
|
(5,558)
|
|
|
|
|
|
Deferred
taxation
|
201,503
|
-
|
|
|
----------------
|
----------------
|
|
TOTAL LONG
TERM LIABILITIES
|
201,503
|
-
|
|
|
----------------
|
----------------
|
|
|
1,932,847
|
(5,558)
|
|
|
=============
|
=============
|
|
|
|
|
|
NOVE METAL
RECYCLING SDN. BHD.
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
481,010
|
2
|
|
Net Liquid
Funds
|
481,010
|
2
|
|
Net Liquid
Assets
|
(8,231,382)
|
(5,558)
|
|
Net Current
Assets/(Liabilities)
|
(7,319,963)
|
(5,558)
|
|
Net Tangible
Assets
|
1,932,847
|
(5,558)
|
|
Net Monetary
Assets
|
(8,432,885)
|
(5,558)
|
|
BALANCE SHEET
ITEMS
|
|
|
|
Total
Borrowings
|
0
|
0
|
|
Total
Liabilities
|
10,438,778
|
5,560
|
|
Total Assets
|
12,170,122
|
2
|
|
Net Assets
|
1,932,847
|
(5,558)
|
|
Net Assets
Backing
|
1,731,344
|
(5,558)
|
|
Shareholders'
Funds
|
1,731,344
|
(5,558)
|
|
Total Share
Capital
|
1,000,000
|
2
|
|
Total Reserves
|
731,344
|
(5,560)
|
|
LIQUIDITY
(Times)
|
|
|
|
Cash Ratio
|
0.05
|
0.00
|
|
Liquid Ratio
|
0.20
|
0.00
|
|
Current Ratio
|
0.28
|
0.00
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
4
|
0
|
|
Debtors Ratio
|
6
|
0
|
|
Creditors
Ratio
|
13
|
0
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
|
Liabilities
Ratio
|
6.03
|
(1.00)
|
|
Times Interest
Earned Ratio
|
0.00
|
0.00
|
|
Assets Backing
Ratio
|
1.93
|
(2,779.00)
|
|
PERFORMANCE RATIO
(%)
|
|
|
|
Operating
Profit Margin
|
1.17
|
0.00
|
|
Net Profit
Margin
|
0.92
|
0.00
|
|
Return On Net
Assets
|
48.55
|
100.04
|
|
Return On
Capital Employed
|
48.55
|
100.04
|
|
Return On
Shareholders' Funds/Equity
|
42.56
|
100.04
|
|
Dividend Pay Out
Ratio (Times)
|
0.00
|
0.00
|
|
NOTES TO
ACCOUNTS
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
|