|
Report No. : |
315176 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAJUMAS OIL & FATS SDN. BHD. |
|
|
|
|
Formerly Known As : |
PRISMA MAJU ENTERPRISE SDN. BHD. |
|
|
|
|
Registered Office : |
29a-B, Jalan Besar, Selayang Baru, 68100 Batu Caves, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
22.09.2008 |
|
|
|
|
Com. Reg. No.: |
833481-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of palm oil. |
|
|
|
|
No. of Employees : |
15 [2015] |
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 : |
Slow but correct |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
833481-W |
||||
|
COMPANY NAME |
: |
MAJUMAS OIL & FATS SDN. BHD. |
||||
|
FORMER NAME |
: |
PRISMA MAJU ENTERPRISE SDN. BHD. (27/04/2011) |
||||
|
INCORPORATION DATE |
: |
22/09/2008 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
29A-B, JALAN BESAR, SELAYANG BARU, 68100 BATU CAVES, SELANGOR,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT PT 67143, JALAN SUNGAI PINANG 5/2, TAMAN PERINDUSTRIAN PULAU INDAH,
PELABUHAN KLANG, 42920 PULAU INDAH, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31013347 |
||||
|
FAX.NO. |
: |
03-31013346 |
||||
|
CONTACT PERSON |
: |
KUMARAN A/L SUNNOTHURY ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46202 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 2,104,606 [2013] |
||||
|
NET WORTH |
: |
MYR 107,614 [2013] |
||||
|
STAFF STRENGTH |
: |
15 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MATURE |
||||
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 palm
oil.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/08/2014 |
MYR 500,000.00 |
MYR 500,000.00 |
|
31/03/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
22/09/2008 |
MYR 100,000.00 |
MYR 2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. KUMARAN A/L SUNNOTHURY + |
27, JALAN SUNGAI KAPAR INDAH 10B, TAMAN SUNGAI KAPAR INDAH, 42200
KAPAR, SELANGOR, MALAYSIA. |
810726-10-5499 |
250,000.00 |
50.00 |
|
MR. NADARAJAN A/L SUNNOTHURY + |
27, JALAN SUNGAI KAPAR INDAH 10B, TAMAN SUNGAI KAPAR INDAH, 42200
KAPAR, SELANGOR, MALAYSIA. |
750707-10-5643 A3068484 |
250,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. KUMARAN A/L SUNNOTHURY |
|
Address |
: |
27, JALAN SUNGAI KAPAR INDAH 10B, TAMAN SUNGAI KAPAR INDAH, 42200
KAPAR, SELANGOR, MALAYSIA. |
|
New IC No |
: |
810726-10-5499 |
|
Date of Birth |
: |
26/07/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/09/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. NADARAJAN A/L SUNNOTHURY |
|
Address |
: |
27, JALAN SUNGAI KAPAR INDAH 10B, TAMAN SUNGAI KAPAR INDAH, 42200
KAPAR, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3068484 |
|
New IC No |
: |
750707-10-5643 |
|
Date of Birth |
: |
07/07/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/09/2008 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KUMARAN A/L SUNNOTHURY |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
FKL & ASSOCIATES |
|
Auditor' Address |
: |
27-4, JALAN PJU 1/42A, DATARAN PRIMA, LEVEL 4, 47301 PETALING JAYA,
SELANGOR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. ONG AH LENG |
|
IC / PP No |
: |
4805847 |
|
|
New IC No |
: |
550620-08-6631 |
|
|
Address |
: |
15, JALAN SATU A, SELAYANG BARU, 68100 BATU CAVES, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
PALM OIL INDUSTRIES |
|||
OPERATIONS
|
|
Goods Traded |
: |
PALM OIL |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
15 |
5 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of palm
oil.
The Subject is engage in trading of palm oil and related product.
The Subject is an established and licensed by MPOB (Malaysia Palm Oil Board)
The Subject are also exporting Palm Acid Oil (Palm Sludge Oil) around
Malaysia.
The Subject intend to provide the best product at best price.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-31013347 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT PT 67143 JALAN SUNGAI PINANG 5/2 TAMAN PERINDUSTIAN PULAU INDAH
42920 PELABUHAN KLANG SELANGOR DARUL EHSAN MALAYSIA. |
|
Current Address |
: |
LOT PT 67143, JALAN SUNGAI PINANG 5/2, TAMAN PERINDUSTRIAN PULAU
INDAH, PELABUHAN KLANG, 42920 PULAU INDAH, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
18.02% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
44.34% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
26.65% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.69% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.The
Subject's profit fell sharply because of the high operating costs incurred. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
79 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
102 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The Subject's debtors ratio
was high. The Subject should tighten its credit control and improve its
collection period. The 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 |
[ |
6.79 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
9.13 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 |
: |
Acceptable |
[ |
9.10 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.29 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp fall
in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. 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 Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the
Subject's profit margin. 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. The Subject had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. 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 : STRONG |
||||||
|
|
||||||
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 |
|
|
46202 : Wholesale of palm oil |
|
|
INDUSTRY : |
PALM OIL |
|
According to the Malaysian Palm Oil Council (MPOC), Malaysia currently
accounts for 39% of world palm oil production and 44% of world exports in
year 2014. Malaysia is also one of the biggest producers and exporters of oil
palm and palm oil products. In the last 5 years until year 2014, Malaysia
earned between RM50 billion and RM70 billion a year from palm oil exports. |
|
|
Besides, the ongoing implementation of Entry Point Projects (EPPs) under
the National Key Economic Area (NKEA) on palm oil to enhance productivity of
upstream and downstream activities will further boost the palm oil sector.
Thus, palm oil sector is expected to grow 6.7% in 2014 (2013: 2.6%).
Moreover, the total oil palm planted areas increased 2.8% to 5.3 million
hectares as at end-June 2014 (end-June 2013: 5.2 million hectares) following
the opening of 30,544 hectares of cultivated areas mainly in Sabah and
Sarawak. Other than that, the production of palm oil is expected to growth by
1.6% (19.52 million tonnes) in year 2014, compared to 19.22 million tonnes in
year 2013. |
|
|
According to Kenanga Research, the estimated average crude palm oil
(CPO) price for 2014 and 2015 is between RM2,100 and RM2,500 per tonne due to
lower inventory estimate by end-2015. The estimated prices also lifted by
factors such as biofuel demand and petroleum price level. But, the average
price of crude palm oil (CPO) strengthened to RM2,542 per tonne during the
first eight months of 2014 (January - August 2013: Rm2,309 per tonne).
However, with production rising in the second quarter coupled with high
inventory level (end-August 2014: 2.1 million tonnes), the price of CPO
moderated to RM2,162 per tonne as at end-August 2014, and hitting a five-year
low of RM1,914 per tonne in Sept 2014 as stockpiles surged to a more than 1
year high above 2 million tonnes. The moderation in CPO prices was also due
to a surge in global supplies of edible oil, particularly the bumper harvest
of soybean in the US. |
|
|
Over the total exports of major products in year 2013, palm oil
accounts 6.4% of share in the total exports. During the first seven months of
2014, export receipts of palm oil rebounded by 4.9% to RM25.8 billion (January
- July 2013: -21.9%, RM 24.6 billion) due to higher export prices averaging
RM 2,703 per tonne (January - July 2013: Rm 2,456 per tonne). As a measure to
reduce the high inventory due to strong output, the Government has exempted
export tax on CPO until December 2014. The Government's move to extend the
export duty exemption for crude palm oil (CPO) has received positive reaction
from industry players. The chairman of Malaysian Palm Oil Board (MPOB) said
the move provided a stable effect on the CPO market prices. |
|
|
In Budget 2015, there is an allocation of RM41 million for
smallholders to plant and replant oil palm. The incentives for commodities
announced in Budget 2015 will help alleviate the problems faced by the
industry, especially the poor prices for rubber and palm oil. |
|
|
According to the Minister of Plantation Industries and Commodities,
the Malaysian government will increase the amount of palm oil based
bio-diesel in the national diesel supply mix from November 2014, in a move that
will also help to increase consumption of crude palm oil (CPO) and reduce
stockpile levels of the commodity. The implementation of the B7 blend will
also increase the use palm oil which prices have softened due to oversupply
in the market. According to the Malaysian Palm Oil Council (MPOC), CPO prices
are expected to improve to between RM2,100 and RM2,500 in year 2015, lifted
by factors such as biofuel demand from the B7 programme. CIMB Research
estimates that the rollout could raise the country's palm oil demand by
263,000-390,000 tonnes per annum, or 1-2% of the total palm oil production in
2013. |
|
|
OVERALL INDUSTRY OUTLOOK : Mature |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
MAJUMAS OIL & FATS SDN. BHD. |
|
Financial Year
End |
2013-09-30 |
2012-09-30 |
2011-09-30 |
2010-09-30 |
2009-09-30 |
|
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 |
FULL |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
2,104,606 |
1,783,311 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,104,606 |
1,783,311 |
- |
- |
- |
|
Costs of Goods Sold |
(1,794,377) |
(1,513,303) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
310,229 |
270,008 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
25,575 |
45,949 |
(44,695) |
(1,870) |
(3,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
25,575 |
45,949 |
(44,695) |
(1,870) |
(3,695) |
|
Taxation |
3,100 |
(16,750) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
28,675 |
29,199 |
(44,695) |
(1,870) |
(3,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
7,614 |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
7,614 |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
|
============= |
============= |
============= |
============= |
============= |
|
|
Hire purchase |
3,159 |
2,159 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,159 |
2,159 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
MAJUMAS OIL & FATS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
126,521 |
139,169 |
74,367 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
126,521 |
139,169 |
74,367 |
- |
- |
|
Stocks |
454,023 |
435,000 |
134,104 |
- |
- |
|
Trade debtors |
590,817 |
427,625 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
30,552 |
19,597 |
19,282 |
- |
- |
|
Cash & bank balances |
694,185 |
727,886 |
408,707 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,769,577 |
1,610,108 |
562,093 |
96,605 |
15,482 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,896,098 |
1,749,277 |
636,460 |
96,605 |
15,482 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
119,432 |
196,608 |
67,208 |
- |
- |
|
Other creditors & accruals |
15,200 |
126,671 |
16,883 |
- |
- |
|
Hire purchase & lease creditors |
9,288 |
9,288 |
- |
- |
- |
|
Amounts owing to director |
47,258 |
48,668 |
50,000 |
- |
- |
|
Provision for taxation |
2,660 |
4,300 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
193,838 |
385,535 |
134,091 |
2,170 |
19,175 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,575,739 |
1,224,573 |
428,002 |
94,435 |
(3,693) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,702,260 |
1,363,742 |
502,369 |
94,435 |
(3,693) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
Retained profit/(loss) carried forward |
7,614 |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
7,614 |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
107,614 |
78,939 |
49,740 |
94,435 |
(3,693) |
|
Hire purchase creditors |
22,294 |
39,187 |
- |
- |
- |
|
Deferred taxation |
7,100 |
12,450 |
- |
- |
- |
|
Others |
1,565,252 |
1,233,166 |
452,629 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,594,646 |
1,284,803 |
452,629 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,702,260 |
1,363,742 |
502,369 |
94,435 |
(3,693) |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
MAJUMAS OIL & FATS SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
694,185 |
727,886 |
408,707 |
- |
- |
|
Net Liquid Funds |
694,185 |
727,886 |
408,707 |
- |
- |
|
Net Liquid Assets |
1,121,716 |
789,573 |
293,898 |
94,435 |
(3,693) |
|
Net Current Assets/(Liabilities) |
1,575,739 |
1,224,573 |
428,002 |
94,435 |
(3,693) |
|
Net Tangible Assets |
1,702,260 |
1,363,742 |
502,369 |
94,435 |
(3,693) |
|
Net Monetary Assets |
(472,930) |
(495,230) |
(158,731) |
94,435 |
(3,693) |
|
PROFIT & LOSS ITEMS |
|||||
|
EARNINGS BEFORE INTEREST & TAX (EBIT) |
0 |
0 |
0 |
- |
- |
|
EBITDA |
0 |
0 |
0 |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
31,582 |
48,475 |
0 |
- |
- |
|
Total Liabilities |
1,788,484 |
1,670,338 |
586,720 |
2,170 |
19,175 |
|
Total Assets |
1,896,098 |
1,749,277 |
636,460 |
96,605 |
15,482 |
|
Net Assets |
1,702,260 |
1,363,742 |
502,369 |
94,435 |
(3,693) |
|
Net Assets Backing |
107,614 |
78,939 |
49,740 |
94,435 |
(3,693) |
|
Shareholders' Funds |
107,614 |
78,939 |
49,740 |
94,435 |
(3,693) |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
Total Reserves |
7,614 |
(21,061) |
(50,260) |
(5,565) |
(3,695) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
3.58 |
1.89 |
3.05 |
- |
- |
|
Liquid Ratio |
6.79 |
3.05 |
3.19 |
- |
- |
|
Current Ratio |
9.13 |
4.18 |
4.19 |
44.52 |
0.81 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
79 |
89 |
0 |
- |
- |
|
Debtors Ratio |
102 |
88 |
0 |
- |
- |
|
Creditors Ratio |
24 |
47 |
0 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.29 |
0.61 |
0.00 |
- |
- |
|
Liabilities Ratio |
16.62 |
21.16 |
11.80 |
0.02 |
(5.19) |
|
Times Interest Earned Ratio |
9.10 |
22.28 |
0.00 |
- |
- |
|
Assets Backing Ratio |
17.02 |
13.64 |
5.02 |
0.94 |
(1,846.50) |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.22 |
2.58 |
0.00 |
- |
- |
|
Net Profit Margin |
1.36 |
1.64 |
0.00 |
- |
- |
|
Return On Net Assets |
1.69 |
3.53 |
(8.90) |
(1.98) |
100.05 |
|
Return On Capital Employed |
1.68 |
3.50 |
(8.90) |
(1.98) |
100.05 |
|
Return On Shareholders' Funds/Equity |
26.65 |
36.99 |
(89.86) |
(1.98) |
100.05 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.