|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BASF ( |
|
|
|
|
Formerly Known As : |
PAYA SERAI SDN BHD (10/10/1989) |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Level 18, 59200 Kuala Lumpur, Wilayah Persekutuan, |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.06.1989 |
|
|
|
|
Com. Reg. No.: |
182671-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Polystyrene and Engineered Plastic Products |
|
|
|
|
No. of Employees : |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister
NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and
policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with sustained budget deficits, has forced
Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions
in energy and sugar subsidies and the announcement of the 2015 implementation
of a 6% goods and services tax. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies
about 32% of government revenue in 2013. Bank Negara Malaysia (central bank) maintains
healthy foreign exchange reserves, and a well-developed regulatory regime has
limited Malaysia's exposure to riskier financial instruments and the global
financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in
commodity prices or a general slowdown in global economic activity because
exports are a major component of GDP. In order to attract increased investment,
NAJIB earlier raised possible revisions to the special economic and social
preferences accorded to ethnic Malays under the New Economic Policy of 1970,
but retreated in 2013 after he encountered significant opposition from Malay
nationalists and other vested interests. In September 2013 NAJIB launched the
new Bumiputra Economic Empowerment Program (BEEP), policies that favor and
advance the economic condition of ethnic Malays
|
Source
: CIA |
|
REGISTRATION NO. |
: |
182671-M |
||||
|
COMPANY NAME |
: |
BASF (MALAYSIA) SDN. BHD. |
||||
|
FORMER NAME |
: |
PAYA SERAI SDN BHD (10/10/1989) |
||||
|
INCORPORATION DATE |
: |
01/06/1989 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY, LINGKARAN SYED PUTRA, LEVEL
18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT JELUTONG, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-56283888 |
||||
|
FAX.NO. |
: |
03-56283777 |
||||
|
WEB SITE |
: |
WWW.BASF.COM |
||||
|
CONTACT PERSON |
: |
WONG KAR YEE ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
20131 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF POLYSTYRENE AND
ENGINEERED PLASTIC PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 112,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 111,200,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 1,089,559,486 [2013] |
||||
|
NET WORTH |
: |
MYR 260,665,830 [2013] |
||||
|
M1000 OVERALL RANKING |
: |
405[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
23[2011] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
400 - GROUP [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing
of polystyrene and engineered plastic products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the Subject's ranking are
as follows: |
|
|||||
|
|
|
|
|
|
||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
405 |
244 |
243 |
301 |
381 |
|
|
INDUSTRY RANKING |
23 |
13 |
12 |
13 |
11 |
|
The immediate holding company of the Subject is BASF BETEILIGUNGSGESELLSCHAFT
MBH, a company incorporated in GERMANY.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 112,000,000.00 |
MYR 111,200,000.00 |
|
28/11/1997 |
MYR 110,000,000.00 |
MYR 109,500,000.00 |
|
30/07/1993 |
MYR 104,500,000.00 |
MYR 104,500,000.00 |
|
23/10/1992 |
MYR 100,000,000.00 |
MYR 100,000,000.00 |
|
06/05/1992 |
MYR 100,000,000.00 |
MYR 75,000,000.00 |
|
17/02/1992 |
MYR 100,000,000.00 |
MYR 60,000,000.00 |
|
30/01/1992 |
MYR 100,000,000.00 |
MYR 50,000,000.00 |
|
04/07/1991 |
MYR 100,000,000.00 |
MYR 40,000,000.00 |
|
03/06/1991 |
MYR 100,000,000.00 |
MYR 30,000,000.00 |
|
20/05/1991 |
MYR 100,000,000.00 |
MYR 20,000,000.00 |
|
20/02/1991 |
MYR 100,000,000.00 |
MYR 18,000,000.00 |
|
24/01/1990 |
MYR 4,500,000.00 |
MYR 4,500,000.00 |
|
12/12/1989 |
MYR 4,500,000.00 |
MYR 2,500,000.00 |
|
01/06/1989 |
MYR 25,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BASF BETEILIGUNGSGESELLSCHAFT MBH |
CARL-BOSCH-STRASSE 38, LUDWIGSHAFEN, 67056, GERMANY. |
0084 |
111,200,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
111,200,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. CINDY WONG KAR YEE |
|
Address |
: |
7, JALAN SS18/5D, PETALING JAYA, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
|
|
|
|
|
New IC No |
: |
690925-10-5164 |
|
Date of Birth |
: |
25/09/1969 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/08/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
DANIEL LOH HONG CHYE |
|
Address |
: |
UNIT 8-05, MONT' KIARA DAMAI, 3, JALAN KIARA 2, MONT' KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
E2426203L |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/07/2011 |
|
Remark |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
DEAN TREVOR DRAPER |
|
Address |
: |
52 ORIOLE CRESCENT, SINGAPORE 288643, SINGAPORE. |
|
IC / PP No |
: |
E4053812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AUSTRALIAN |
|
1) |
Name of Subject |
: |
WONG KAR YEE |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA, 47800 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
|
|
|
|
1) |
Company Secretary |
: |
MS. CINDY WONG KAR YEE |
|
|
|
|
|
|
|
New IC No |
: |
690925-10-5164 |
|
|
Address |
: |
7, JALAN SS18/5D, PETALING JAYA, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
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.
|
DEFAULTER |
||||
|
Defaulter |
: |
|
||
|
Last Followup Date |
: |
21/11/2012 |
||
|
Amount Default |
: |
MYR 2,042.71 |
||
|
Full Settlement |
: |
No |
||
|
Type of Debt |
: |
Goods Sold / Services Rendered |
||
|
Status |
: |
CP |
||
|
Remark |
: |
recive fax resit and full settle |
||
|
NOTE |
: |
Please check with creditors for confirmation as alleged debts may have
been paid since recorded or are being disputed. |
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Import Countries |
: |
ASIA,SINGAPORE |
|||
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 |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 - 90 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
||||
|
|
|
|
||||
|
Competitor(s) |
: |
TORAY BASF PBT RESIN SDN BHD
|
||||
|
|
|
|
||||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN PLASTICS MANUFACTURERS ASSOCIATION (MPMA) MALAYSIAN RUBBER GLOVE MANUFACTURERS ASSOCIATION (MRGMA) MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) SMALL & MEDIUM ENTERPRISE CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) |
||||
|
|
|
|
||||
|
Factory / Premises |
: |
LOT 143, JALAN CECAIR, FREE TRADE ZONE JOHOR PORT, 81700 PASIR GUDANG,
JOHOR, MALAYSIA.
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
|
|||
|
|
|||||||||
|
GROUP |
400 |
400 |
400 |
400 |
400 |
|
|
|
|
|
|
360 |
360 |
383 |
360 |
|
|
|
|
|
|
Branch |
: |
YES
|
|
|
No of Branches |
: |
2
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
polystyrene and engineered plastic products.
The Subject is a major producer of expandable polystyrene and engineered
plastic products.
The plant, located at Pasir Gudang, Johor is for the production of expandable
polystyrene (EPS) better known as Styropor and is also producing Tamol, a
superplasticier used in the construction industry.
According to the Subject, its expandable polystyrene is also used for packaging
products.
Besides, the plant is also producing Ultramid Polyamide and Ultradur for applications
in the automotive, electric and electronic industries.
The Subject's plant is equipped with both automated and semi-automated
machinery.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-56283888 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT JELUTONG,40150,SHAH
ALAM,SELANGOR. |
|
Current Address |
: |
2, JALAN ASTAKA U8/87, SEKSYEN U8, BUKIT JELUTONG, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 18th September 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.59% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
13.35% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The higher profit could be attributed to the
increase in turnover. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
9 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 |
: |
Favourable |
[ |
1.06 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.76 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
31.76 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.03 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. 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 : |
|
|
|
|
|
|
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in controlling
its costs and profitability. The Subject was in good liquidity position with
its total current liabilities well covered by its total current assets. With
its current net assets, the Subject should be able to repay its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. 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 : FAIR |
||||||
|
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 |
|
|
20131 : Manufacture of plastic in primary forms |
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The Manufacturing sector is one of the important sectors to the growth
of the Malaysian economy. According to Ministry of Finance, the manufacturing
sector is expected to grow 4.9% in year 2013. Export oriented-industries are
expected to benefit from the higher growth of global trade, while
domesticoriented industries expand in line with the better consumer sentiment
and business confidence. The resource-based industries are envisaged to grow
steadily attributed to improved demand for petroleum, chemical, rubber and
plastic products. With better job prospects and higher disposable income, the
transportation equipment subsector, in particular, the passenger car segment
is expected to expand. |
|
|
|
|
|
Value-added of the manufacturing sector expanded 5% during the first
half of 2012. Output of the sector rose 5.2% during the first sevenmonths of
2012 in line with the increase in sales value of manufactured products by
6.5% to RM363.1 billion. Output from domesticoriented industries continued to
expand 8.6% while export-oriented industries grew 4.1%. |
|
|
|
|
|
According to the Department of Statistics, the sales value of the
Manufacturing sector in January 2013 posted a growth of 7.4% (RM3.6 billion)
to record RM52.4 billion as compared to RM48.8 billion reported in year 2012.
Meanwhile, month-on-month basis, the sales value has decreased by 0.4% (RM0.2
billion) as compared with the preceding month. The sales value in December
2012 has been revised positive 7.5% year-on-year to record RM52.6 billion. |
|
|
|
|
|
Output of rubber products increased 3.6% in the first seven month of
2012 mainly supported by continuous demand for rubber gloves. Output of
rubber gloves grew 5.9% on account of the expansion in the global healthcare
industry and wider usage of gloves in other sectors. Similarly, output of
catheters, especially for use in medical appliances, also registered a strong
growth of 12.6%. Nevertheless, production of rubber tyres and tubes reduced
10.9% in tandem with slowing external demand from the automotive industry,
especially China. |
|
|
|
|
|
Meanwhile, production of wood and wood products rebounded 4.6% largely
supported by higher demand for wooden and cane furniture (33.5%). The
positive performance was attributed to vibrant higher demand from major
export destinations such as China and the United States (US) for
Malaysian-made furniture. Demand from China accelerated further following the
country’s rising income level and the implementation of zero import duty on
Malaysian made-furniture. Malaysia government has growth target of 6.5% for
wood based furniture where estimated to reach up to RM53 billion by year
2020.The government providing pioneer status for tax exemption and investment
tax allowance for this industry as a boost up step towards produce good
quality product and to meet the world demand. |
|
|
|
|
|
The output of chemicals and chemical products rose 9.9% in the first
seven month of year 2012 on account of increasing demand for plastic products
(11.8%) and basic chemicals (11.1%). External demand for plastic packaging
materials surged during the early part of the year 2012, particularly from
Japan and Thailand, as manufacturers resumed operations, which were
interrupted by natural calamities and power outages. Chemical production are
expected to show 7.5 % in year 2013 inline with Malaysia as one of the
largest contributor in world Chemicals & Chemical industries. |
|
|
|
|
|
Tax and non-tax incentives provided by goverment encourage
manufacturers to move up the value chain of manufacturing industry. The new
growth initiatives by goverment in the manufacturing sector such assolar and
medial services can be important drivers of growth apart from helping to
diversify the manufacturing base and contributing to the resilience of the
sector. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 1989, the Subject is a
Private Limited company, focusing on manufacturing of polystyrene and
engineered plastic 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. Having strong
support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment. The Subject is a
large entity with strong capital position. We are confident with the
Subject's business and its future growth prospect. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
BASF (MALAYSIA) SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
1,089,559,486 |
1,477,489,721 |
1,349,357,436 |
1,112,435,083 |
888,013,619 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
1,089,559,486 |
1,477,489,721 |
1,349,357,436 |
1,112,435,083 |
888,013,619 |
|
Costs of Goods Sold |
(908,135,131) |
(1,257,450,719) |
(1,180,349,254) |
(956,250,923) |
(723,906,635) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
181,424,355 |
220,039,002 |
169,008,182 |
156,184,160 |
164,106,984 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
33,704,946 |
3,191,535 |
8,132,082 |
7,204,395 |
33,737,569 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
33,704,946 |
3,191,535 |
8,132,082 |
7,204,395 |
33,737,569 |
|
Taxation |
(6,096,527) |
(283,442) |
(343,625) |
(1,790,875) |
(8,151,853) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
27,608,419 |
2,908,093 |
7,788,457 |
5,413,520 |
25,585,716 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
38,557,411 |
47,430,979 |
39,642,522 |
73,688,442 |
48,102,726 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
38,557,411 |
47,430,979 |
39,642,522 |
73,688,442 |
48,102,726 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
66,165,830 |
50,339,072 |
47,430,979 |
79,101,962 |
73,688,442 |
|
TRANSFER TO RESERVES - General |
- |
(11,781,661) |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(20,600,000) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
66,165,830 |
38,557,411 |
47,430,979 |
58,501,962 |
73,688,442 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Lease interest |
- |
871 |
1,294 |
- |
- |
|
Term loan / Borrowing |
1,095,787 |
1,062,519 |
892,456 |
- |
- |
|
Others |
- |
- |
- |
764,996 |
719,461 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,095,787 |
1,063,390 |
893,750 |
764,996 |
719,461 |
|
|
============= |
============= |
============= |
============= |
============= |
|
BASF (MALAYSIA) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
105,101,531 |
104,798,118 |
111,781,682 |
110,898,504 |
114,797,143 |
|
|
|
|
|
|
|
|
Deferred assets |
3,601,000 |
2,257,000 |
- |
386,000 |
129,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,601,000 |
2,257,000 |
- |
386,000 |
129,000 |
|
|
|
|
|
|
|
|
Others |
1,911,283 |
2,389,104 |
2,866,924 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
1,911,283 |
2,389,104 |
2,866,924 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
110,613,814 |
109,444,222 |
114,648,606 |
111,284,504 |
114,926,143 |
|
|
|
|
|
|
|
|
Stocks |
138,713,224 |
176,369,182 |
141,805,018 |
130,727,384 |
89,378,074 |
|
Trade debtors |
96,161,503 |
133,459,681 |
136,919,045 |
96,687,506 |
88,753,741 |
|
Other debtors, deposits & prepayments |
8,648,735 |
14,009,267 |
8,821,086 |
3,910,370 |
4,917,418 |
|
Short term deposits |
10,945 |
3,877,247 |
1,210,372 |
- |
77,184,000 |
|
Amount due from holding company |
1,529,320 |
2,399,568 |
5,105,993 |
13,613,184 |
- |
|
Amount due from related companies |
87,228,096 |
89,785,979 |
122,560,594 |
97,685,829 |
85,076,409 |
|
Cash & bank balances |
4,217,765 |
9,092,780 |
13,544,944 |
36,203,386 |
13,461,298 |
|
Others |
10,513,031 |
9,361,973 |
1,227,435 |
1,695,558 |
2,736,666 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
347,022,619 |
438,355,677 |
431,194,487 |
380,523,217 |
361,507,606 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
457,636,433 |
547,799,899 |
545,843,093 |
491,807,721 |
476,433,749 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
22,563,925 |
37,565,824 |
25,031,511 |
19,507,014 |
14,722,585 |
|
Other creditors & accruals |
21,278,747 |
27,347,760 |
32,201,592 |
31,653,810 |
22,568,870 |
|
Hire purchase & lease creditors |
- |
- |
27,662 |
- |
- |
|
Bank overdraft |
1,944,092 |
300 |
3,531 |
- |
- |
|
Short term borrowings/Term loans |
- |
13,000,000 |
- |
11,400,000 |
- |
|
Other borrowings |
7,011,089 |
27,545,879 |
77,080,828 |
- |
- |
|
Other liabilities & accruals |
- |
- |
- |
- |
238,372 |
|
Amounts owing to holding company |
17,234,703 |
18,685,591 |
10,790,739 |
10,025,377 |
- |
|
Amounts owing to related companies |
124,652,047 |
169,452,317 |
170,294,680 |
166,219,558 |
103,435,351 |
|
Provision for taxation |
- |
- |
- |
- |
1,382,473 |
|
Other liabilities |
2,286,000 |
21,144,817 |
- |
- |
64,990,656 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
196,970,603 |
314,742,488 |
315,430,543 |
238,805,759 |
207,338,307 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
150,052,016 |
123,613,189 |
115,763,944 |
141,717,458 |
154,169,299 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
260,665,830 |
233,057,411 |
230,412,550 |
253,001,962 |
269,095,442 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
|
|
|
|
|
|
|
|
RESERVES |
|
|
|
|
|
|
Share premium |
83,300,000 |
83,300,000 |
83,300,000 |
83,300,000 |
83,300,000 |
|
Retained profit/(loss) carried forward |
66,165,830 |
38,557,411 |
47,430,979 |
58,501,962 |
73,688,442 |
|
Others |
- |
- |
(11,781,661) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
149,465,830 |
121,857,411 |
118,949,318 |
141,801,962 |
156,988,442 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
260,665,830 |
233,057,411 |
230,149,318 |
253,001,962 |
268,188,442 |
|
|
|
|
|
|
|
|
Lease obligations |
- |
- |
86,232 |
- |
- |
|
Deferred taxation |
- |
- |
177,000 |
- |
907,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
- |
- |
263,232 |
- |
907,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
260,665,830 |
233,057,411 |
230,412,550 |
253,001,962 |
269,095,442 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BASF (MALAYSIA) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
4,228,710 |
12,970,027 |
14,755,316 |
36,203,386 |
90,645,298 |
|
Net Liquid Funds |
2,284,618 |
12,969,727 |
14,751,785 |
36,203,386 |
90,645,298 |
|
Net Liquid Assets |
11,338,792 |
(52,755,993) |
(26,041,074) |
10,990,074 |
64,791,225 |
|
Net Current Assets/(Liabilities) |
150,052,016 |
123,613,189 |
115,763,944 |
141,717,458 |
154,169,299 |
|
Net Tangible Assets |
258,754,547 |
230,668,307 |
227,545,626 |
253,001,962 |
269,095,442 |
|
Net Monetary Assets |
11,338,792 |
(52,755,993) |
(26,304,306) |
10,990,074 |
63,884,225 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
8,955,181 |
40,546,179 |
77,198,253 |
11,400,000 |
0 |
|
Total Liabilities |
196,970,603 |
314,742,488 |
315,693,775 |
238,805,759 |
208,245,307 |
|
Total Assets |
457,636,433 |
547,799,899 |
545,843,093 |
491,807,721 |
476,433,749 |
|
Net Assets |
260,665,830 |
233,057,411 |
230,412,550 |
253,001,962 |
269,095,442 |
|
Net Assets Backing |
260,665,830 |
233,057,411 |
230,149,318 |
253,001,962 |
268,188,442 |
|
Shareholders' Funds |
260,665,830 |
233,057,411 |
230,149,318 |
253,001,962 |
268,188,442 |
|
Total Share Capital |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
111,200,000 |
|
Total Reserves |
149,465,830 |
121,857,411 |
118,949,318 |
141,801,962 |
156,988,442 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.02 |
0.04 |
0.05 |
0.15 |
0.44 |
|
Liquid Ratio |
1.06 |
0.83 |
0.92 |
1.05 |
1.31 |
|
Current Ratio |
1.76 |
1.39 |
1.37 |
1.59 |
1.74 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
46 |
44 |
38 |
43 |
37 |
|
Debtors Ratio |
32 |
33 |
37 |
32 |
36 |
|
Creditors Ratio |
9 |
11 |
8 |
7 |
7 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.03 |
0.17 |
0.34 |
0.05 |
0.00 |
|
Liabilities Ratio |
0.76 |
1.35 |
1.37 |
0.94 |
0.78 |
|
Times Interest Earned Ratio |
31.76 |
4.00 |
10.10 |
10.42 |
47.89 |
|
Assets Backing Ratio |
2.33 |
2.07 |
2.05 |
2.28 |
2.42 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
3.09 |
0.22 |
0.60 |
0.65 |
3.80 |
|
Net Profit Margin |
2.53 |
0.20 |
0.58 |
0.49 |
2.88 |
|
Return On Net Assets |
13.35 |
1.83 |
3.92 |
3.15 |
12.80 |
|
Return On Capital Employed |
13.16 |
1.81 |
3.87 |
3.15 |
12.80 |
|
Return On Shareholders' Funds/Equity |
10.59 |
1.25 |
3.38 |
2.14 |
9.54 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
3.81 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
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.