MIRA INFORM REPORT

 

 

Report No. :

314817

Report Date :

01.04.2015

 

IDENTIFICATION DETAILS

 

Name :

E & S PC MEDIA DISTRIBUTION SDN. BHD.

 

 

Registered Office :

5-4-2, Jalan 2/50, Diamond Square, Off Jalan Gombak, 53000 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Date of Incorporation :

24.03.2003

 

 

Com. Reg. No.:

609834-H

 

 

Legal Form :

Private Limited (Limited by Share)

 

 

Line of Business :

Trading of Computer Software and Other Related Product.

 

 

No. of Employees :

11 [2015]

 

 

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 :

Unknown

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

609834-H

COMPANY NAME

:

E & S PC MEDIA DISTRIBUTION SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

24/03/2003

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

5-4-2, JALAN 2/50, DIAMOND SQUARE, OFF JALAN GOMBAK, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

26A, JALAN LIM SWEE AUN, 34000 TAIPING, PERAK, MALAYSIA.

TEL.NO.

:

05-8087963

FAX.NO.

:

N/A

HP.NO.

:

0165246226

CONTACT PERSON

:

NG YEN HOCK ( DIRECTOR )

INDUSTRY CODE

:

47411

PRINCIPAL ACTIVITY

:

TRADING OF COMPUTER SOFTWARE AND OTHER RELATED PRODUCT

AUTHORISED CAPITAL

:

MYR 100,000.00 DIVIDED INTO
ORDINARY SHARE 100,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 100.00 DIVIDED INTO
ORDINARY SHARES 100 CASH OF MYR 1.00 EACH.

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

11 [2015]

BANKER (S)

:

RHB BANK BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading of computer software and other related product.

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

15/02/2012

MYR 100,000.00

MYR 100.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. NG YEN HOCK +

26, JALAN LIM SWEE AUN, 34000 TAIPING, PERAK, MALAYSIA.

721003-08-5477 A2276636

50.00

50.00

MS. CHAN MAY LIN +

21, LORONG SATU, TAMAN LAKEVIEW, 34000 TAIPING, PERAK, MALAYSIA.

620112-08-5334 6338440

25.00

25.00

MR. CHAN KOK LIANG +

21, LORONG SATU, TAMAN LAKE VIEW, 34000 TAIPING, PERAK, MALAYSIA.

650117-08-6229 7491241

25.00

25.00

---------------

------

100.00

100.00

============

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MS. CHAN MAY LIN

Address

:

21, LORONG SATU, TAMAN LAKEVIEW, 34000 TAIPING, PERAK, MALAYSIA.

IC / PP No

:

6338440

New IC No

:

620112-08-5334

Date of Birth

:

12/01/1962

Nationality

:

MALAYSIAN

Date of Appointment

:

09/04/2007

 

DIRECTOR 2

 

Name Of Subject

:

MR. CHAN KOK LIANG

Address

:

21, LORONG SATU, TAMAN LAKE VIEW, 34000 TAIPING, PERAK, MALAYSIA.

IC / PP No

:

7491241

New IC No

:

650117-08-6229

Date of Birth

:

17/01/1965

Nationality

:

MALAYSIAN

Date of Appointment

:

09/04/2007

 

DIRECTOR 3

 

Name Of Subject

:

MR. NG YEN HOCK

Address

:

26, JALAN LIM SWEE AUN, 34000 TAIPING, PERAK, MALAYSIA.

IC / PP No

:

A2276636

New IC No

:

721003-08-5477

Date of Birth

:

03/10/1972

Nationality

:

MALAYSIAN

Date of Appointment

:

10/05/2006


MANAGEMENT

 

 

 

1)

Name of Subject

:

NG YEN HOCK

Position

:

DIRECTOR

 

 

 

AUDITOR


No Auditor found in our databank

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. MOHD ZAKRI BIN MOHD RAZALI

IC / PP No

:

A2253355

New IC No

:

720628-08-5755

Address

:

23, JALAN KRISTAL 7/63A, SEKSYEN 7, 40000 SHAH ALAM, SELANGOR, MALAYSIA.

 

2)

Company Secretary

:

MR. AHMAD RUSTAM BIN ALI @ JAAFAR

IC / PP No

:

A2967372

New IC No

:

750210-11-5467

Address

:

2, JALAN HARMONIS 2, TAMAN HARMONIS, GOMBAK, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

RHB BANK BHD

 

 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

DEFAULTER CHECK AGAINST SUBJECT


* We have checked through the Subject in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection.

No blacklisted record & debt collection case was found in our defaulters' databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Credit Term

:

N/A

Payment Mode

:

CASH
CREDIT CARD

Type of Customer

:

END USERS,INFORMATION TECHNOLOGY INDUSTRY

 

 

OPERATIONS

 

Goods Traded

:

COMPUTER SOFTWARE AND OTHER RELATED PRODUCT

 

Total Number of Employees:

YEAR

2015

GROUP

N/A

COMPANY

11

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of computer software and other related product.

The Subject is engage in trading of computer software and related products.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

05-8087963

Match

:

N/A

Address Provided by Client

:

26A JALAN LIM SWEE AUN TAIPING PERAK 34000 MALAYSIA

Current Address

:

26A, JALAN LIM SWEE AUN, 34000 TAIPING, PERAK, MALAYSIA.

Match

:

YES

Latest Financial Accounts

:

NO

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.


The Subject does not use fax facilities.


The Subject refused to disclose its turnover.




FINANCIAL ANALYSIS

 

No latest financial accounts are available at the Registry Office, thus we are not able to comment on the Subject's financial performance.

Overall financial condition of the Subject : N/A

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2011

2012

2013

2014*

2015**

Population ( Million)

28.7

29.3

29.8

30.3

30.5

Gross Domestic Products ( % )

5.1

5.6

5.3

6.0

6.0

Domestic Demand ( % )

8.2

9.4

5.6

6.4

6.2

Private Expenditure ( % )

8.2

8.0

8.6

7.9

6.9

Consumption ( % )

7.1

1.0

5.7

6.5

5.6

Investment ( % )

12.2

11.7

13.3

12.0

10.7

Public Expenditure ( % )

8.4

13.3

4.4

2.3

4.2

Consumption ( % )

16.1

11.3

(1.2)

2.1

3.8

Investment ( % )

(0.3)

15.9

4.2

2.6

4.7

Balance of Trade ( MYR Million )

116,058

106,300

71,298

52,314

-

Government Finance ( MYR Million )

(45,511)

(42,297)

(39,993)

(37,291)

-

Government Finance to GDP / Fiscal Deficit ( % )

(5.4)

(4.5)

(4.0)

(3.5)

(3.0)

Inflation ( % Change in Composite CPI)

3.1

1.6

2.5

3.3

4.0

Unemployment Rate

3.3

3.2

3.0

3.0

3.0

Net International Reserves ( MYR Billion )

415

427

-

417

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

3.50

2.20

-

-

-

Average 3 Months of Non-performing Loans ( % )

14.80

14.70

-

-

-

Average Base Lending Rate ( % )

6.60

6.53

6.53

-

-

Business Loans Disbursed( % )

15.3

32.2

-

-

-

Foreign Investment ( MYR Million )

23,546.1

26,230.4

38,238.0

-

-

Consumer Loans ( % )

-

-

-

-

-

Registration of New Companies ( No. )

45,455

45,441

46,321

-

-

Registration of New Companies ( % )

3.0

(0.0)

1.9

-

-

Liquidation of Companies ( No. )

132,485

17,092

26,430

-

-

Liquidation of Companies ( % )

417.8

(87.1)

54.6

-

-

Registration of New Business ( No. )

284,598

324,761

329,895

-

-

Registration of New Business ( % )

5.0

14.0

2.0

-

-

Business Dissolved ( No. )

20,121

20,380

18,161

-

-

Business Dissolved ( % )

1.9

1.3

(10.9)

-

-

Sales of New Passenger Cars (' 000 Unit )

535.1

552.2

576.7

598.4

610.3

Cellular Phone Subscribers ( Million )

35.3

38.5

43.0

43.8

-

Tourist Arrival ( Million Persons )

24.7

25.0

25.7

28.0

-

Hotel Occupancy Rate ( % )

60.6

62.4

62.6

-

-

Credit Cards Spending ( % )

15.6

12.6

-

-

-

Bad Cheque Offenders (No.)

32,627

26,982

28,876

-

-

Individual Bankruptcy ( No.)

19,167

19,575

21,984

-

-

Individual Bankruptcy ( % )

5.8

2.1

12.3

-

-



INDUSTRIES ( % of Growth ):

2011

2012

2013

2014*

2015**

Agriculture

5.8

1.0

2.1

3.8

3.1

Palm Oil

10.8

(0.3)

2.6

6.7

-

Rubber

6.1

(7.9)

(10.1)

(10.4)

-

Forestry & Logging

(7.6)

(4.5)

(7.8)

(4.2)

-

Fishing

2.1

4.3

1.6

2.7

-

Other Agriculture

7.1

6.4

8.2

6.2

-

Industry Non-Performing Loans ( MYR Million )

634.1

-

-

-

-

% of Industry Non-Performing Loans

3.2

-

-

-

-

Mining

(5.4)

1.4

0.9

(0.8)

2.8

Oil & Gas

(1.7)

-

-

-

-

Other Mining

-

-

-

-

-

Industry Non-performing Loans ( MYR Million )

46.5

-

-

-

-

% of Industry Non-performing Loans

0.1

-

-

-

-

Manufacturing #

4.7

4.8

3.4

6.6

5.5

Exported-oriented Industries

4.1

6.5

3.3

5.6

-

Electrical & Electronics

(4.0)

12.7

6.9

13.3

-

Rubber Products

20.7

3.0

11.7

(0.3)

-

Wood Products

(5.1)

8.7

(2.7)

5.1

-

Textiles & Apparel

13.2

(7.1)

(2.6)

11.5

-

Domestic-oriented Industries

10.7

1.7

6.8

9.4

-

Food, Beverages & Tobacco

4.80

2.70

3.60

6.13

6.13

Chemical & Chemical Products

10.0

10.8

5.6

-

-

Plastic Products

3.8

-

-

-

-

Iron & Steel

2.2

(6.6)

5.0

0.1

-

Fabricated Metal Products

21.8

13.8

9.9

2.9

-

Non-metallic Mineral

12.1

2.9

(2.0)

5.4

-

Transport Equipment

12.0

3.4

13.8

22.9

-

Paper & Paper Products

9.5

3.1

1.8

4.7

-

Crude Oil Refineries

9.3

-

-

-

-

Industry Non-Performing Loans ( MYR Million )

6,537.2

-

-

-

-

% of Industry Non-Performing Loans

25.7

-

-

-

-

Construction

4.7

18.6

10.9

12.7

10.7

Industry Non-Performing Loans ( MYR Million )

3,856.9

-

-

-

-

% of Industry Non-Performing Loans

10.2

-

-

-

-

Services

7.1

6.4

5.9

5.9

5.6

Electric, Gas & Water

3.5

4.4

4.2

3.6

3.9

Transport, Storage & Communication

6.50

7.10

7.30

7.50

7.15

Wholesale, Retail, Hotel & Restaurant

5.2

4.7

5.9

6.9

6.5

Finance, Insurance & Real Estate

6.90

9.70

3.70

4.65

4.25

Government Services

12.4

9.4

8.3

6.1

5.6

Other Services

5.1

3.9

5.1

4.8

4.5

Industry Non-Performing Loans ( MYR Million )

6,825.2

-

-

-

-

% of Industry Non-Performing Loans

23.4

-

-

-

-

* Estimate / Preliminary

** Forecast

# Based On Manufacturing Production Index



INDUSTRY ANALYSIS

 

MSIC CODE

47411 : Retail sale of computers, computer equipment and supplies

INDUSTRY :

INFORMATION TECHNOLOGY

The Malaysian IT market has a bright medium term outlook, due to a supportive economic environment and a government policy framework encouraging the development of the market. In the hardware market, strong growth in tablet sales and a boost to traditional form factor sales from XP support withdrawal and cuts to Windows licensing fees will boost consumer and enterprise spending. Meanwhile, over the medium term vendor innovation based on Intel's Haswell chips and Windows touch functionality will help vendors capitalize on the strong consumption story in Malaysia. In the enterprise market growth will be slightly slower, with corporate customers more hesitant as a result of ongoing global economic uncertainty. However, there will be some areas of strong growth, including security software and services, as well as outsourcing and cloud computing.

In 2014, sales and exports of personal computers (PCs) and related part have rebounded supported by replacement of PCs with a new operating system, improved global demand and declining inventory. Prices of PCs are also falling, narrowing the price differential with tablet. Meanwhile, the computer hardware sales were increased from RM9.0bn in 2013 to RM9.4bn in 2014, +4.7% in local currency terms. Tablet volume growth will continue to outperform in 2014, but the recovery in desktop and notebook sales will be a key driver of value growth. The contribution of the ICT industry to GDP is targeted to increase to 10.2% by 2015. Greater use of ICT will not only support the growth of the sector but also boost productivity and raise the nation's overall competitiveness.

According to ICT research and analyst firm, spending on information technology (IT) hit about US$9 billion (RM30.07 billion) in 2014, comprising US$5.5 billion on hardware, US$1 billion on software and US$2.5 billion on services. IT spend is expected to register a compound annual growth rate (CAGR) of 9.5% from 2013-2017. It's a healthy growth rate.

Besides, Malaysia's cloud market was worth an estimated US$98.7 million in 2014 and expected to reach US$221.9 million in 2017, growing at a CAGR of 32.6% from 2013-2017. This growth is being enabled by the Government's incentives to enable small and medium businesses (SMBs) to choose for cloud services. The Government is also the largest spender for cloud services, followed by the telecommunications and IT sector, manufacturing, education and BFSI (banking and financial services industry) sectors. On the Business Applications as a Service (BAaaS) front, Malaysia is also witnessing robust growth with an expected CAGR of 33.2% between 2012 and 2018.

Information technology (IT) infrastructure will be substantially extended under the 10th Malaysia Plan period to facilitate connectivity to the global knowledge network. The Government will target 75% of households to have broadband by 2015, and the Malaysia Research and Education Network (MyREN) will be further promoted to allow Malaysian researchers to connect to the global research community.

Moreover, with attractive incentives already in place, Cyberjaya would be able to attract investment in advanced and sophisticated ICT technologies as well as draw high-quality workforce. Focus areas could include information security, creative content, mobile Internet, cloud computing, and big data analytics. Export potential could also be explored in green technology and biotechnology.

To enable rural communities to enjoy the benefits of information and communication technology (ICT), the Universal Services Provision (USP) fund continues to finance projects such as Kampung Tanpa Wayar 1Malaysia (KTW1M) and Pusat Internet 1Malaysia (PI1M). As at end-June 2014, 4,737 KTW1M and 431 PI1M were established nationwide.

The budget 2015 will emphasis on stimulating research and development (R&D) in the ICT sector. Thus, Government is going to establish a Research Incentive Scheme for Enterprises (RISE) with an allocation of RM10 million to encourage companies to set up research centres in high technology, ICT and knowledge-based industries.

OVERALL INDUSTRY OUTLOOK : Average Growth



CREDIT RISK EVALUATION & RECOMMENDATION

 

Incorporated in 2003, the Subject is a Private Limited company, focusing on trading of computer software and other related product. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. With an issued and paid up capital of MYR 100 contributed by individual shareholders, the Subject may face difficulties in its attempt to further expand its business in the future. Thus, the Subject should put more efforts on its business to gain higher market share while competing aggressively in the market.


Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. Being a small company, the Subject's business operation is supported by 11 employees. We regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.


No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing.


Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth . The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.


The industry shows an upward trend and this trend is very likely to sustain in the near terms.

 

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 

 

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

E & S PC MEDIA DISTRIBUTION SDN. BHD.

 

Financial Year End

2009-06-30

2008-06-30

2007-06-30

2006-06-30

2005-06-30

Months

12

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

SUMMARY

SUMMARY

SUMMARY

SUMMARY

SUMMARY

Currency

MYR

MYR

MYR

MYR

MYR

PROFIT/(LOSS) FROM OPERATIONS

(4,071)

(2,363)

(5,137)

(6,424)

(2,533)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(4,071)

(2,363)

(5,137)

(6,424)

(2,533)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(4,071)

(2,363)

(5,137)

(6,424)

(2,533)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS

(4,071)

(2,363)

(5,137)

(6,424)

(2,533)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS

(4,071)

(2,363)

(5,137)

(6,424)

(2,533)

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(146)

2,217

7,354

13,778

16,311

----------------

----------------

----------------

----------------

----------------

As restated

(146)

2,217

7,354

13,778

16,311

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

(4,217)

(146)

2,217

7,354

13,778

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(4,217)

(146)

2,217

7,354

13,778

=============

=============

=============

=============

=============

 

 

 

BALANCE SHEET

 

 

E & S PC MEDIA DISTRIBUTION SDN. BHD.

 

TOTAL CURRENT ASSETS

2,997

7,518

7,873

9,054

134,321

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

2,997

7,518

7,873

9,054

134,321

=============

=============

=============

=============

=============

TOTAL CURRENT LIABILITIES

7,114

7,564

5,556

1,600

120,443

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(4,117)

(46)

2,317

7,454

13,878

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

(4,117)

(46)

2,317

7,454

13,878

=============

=============

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

100

100

100

100

100

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

100

100

100

100

100

Retained profit/(loss) carried forward

(4,217)

(146)

2,217

7,354

13,778

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

(4,217)

(146)

2,217

7,354

13,778

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

(4,117)

(46)

2,317

7,454

13,878

----------------

----------------

----------------

----------------

----------------

(4,117)

(46)

2,317

7,454

13,878

=============

=============

=============

=============

=============

 

FINANCIAL RATIO

 

 

E & S PC MEDIA DISTRIBUTION SDN. BHD.

 

TYPES OF FUNDS

Net Liquid Assets

(4,117)

(46)

2,317

7,454

13,878

Net Current Assets/(Liabilities)

(4,117)

(46)

2,317

7,454

13,878

Net Tangible Assets

(4,117)

(46)

2,317

7,454

13,878

Net Monetary Assets

(4,117)

(46)

2,317

7,454

13,878

BALANCE SHEET ITEMS

Total Liabilities

7,114

7,564

5,556

1,600

120,443

Total Assets

2,997

7,518

7,873

9,054

134,321

Net Assets

(4,117)

(46)

2,317

7,454

13,878

Net Assets Backing

(4,117)

(46)

2,317

7,454

13,878

Shareholders' Funds

(4,117)

(46)

2,317

7,454

13,878

Total Share Capital

100

100

100

100

100

Total Reserves

(4,217)

(146)

2,217

7,354

13,778

LIQUIDITY (Times)

Current Ratio

0.42

0.99

1.42

5.66

1.12

SOLVENCY RATIOS (Times)

Liabilities Ratio

(1.73)

(164.43)

2.40

0.21

8.68

Assets Backing Ratio

(41.17)

(0.46)

23.17

74.54

138.78

PERFORMANCE RATIO (%)

Return On Net Assets

98.88

5,136.96

(221.71)

(86.18)

(18.25)

Return On Capital Employed

98.88

5,136.96

(221.71)

(86.18)

(18.25)

Return On Shareholders' Funds/Equity

98.88

5,136.96

(221.71)

(86.18)

(18.25)

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.