|
Report No. : |
316522 |
|
Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROBIN RESOURCES (MALAYSIA) SDN. BHD. |
|
|
|
|
Registered Office : |
1, Jalan Industri 5, Taman Perindustrian Temerloh, 28400 Mentakab, Pahang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
07.02.1994 |
|
|
|
|
Com. Reg. No.: |
289258-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacturing of medium density fibre boards
& other wood-based products. |
|
|
|
|
No. of Employees : |
300 [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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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) |
|
|
|
|
|
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. |
: |
289258-U |
||||
|
COMPANY NAME |
: |
ROBIN RESOURCES (MALAYSIA) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/02/1994 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, JALAN INDUSTRI 5, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB,
PAHANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
1, JALAN INDUSTRI 5, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB,
PAHANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
09-2719000 |
||||
|
FAX.NO. |
: |
09-2719100 |
||||
|
EMAIL |
: |
CONTACT@ROBINMDF.COM |
||||
|
WEB SITE |
: |
WWW.ROBINMDF.COM |
||||
|
CONTACT PERSON |
: |
CHUA PHAU TEE ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
16212 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF MEDIUM DENSITY FIBRE
BOARDS & OTHER WOOD-BASED PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 61,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 204,219,999 [2014] |
||||
|
NET WORTH |
: |
MYR 135,977,400 [2014] |
||||
|
M1000 OVERALL RANKING |
: |
984[2009] |
||||
|
M1000 INDUSTRY RANKING |
: |
18[2009] |
||||
|
STAFF STRENGTH |
: |
300 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing
of medium density fibre boards & other wood-based 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 |
2009 |
||
|
OVERALL RANKING |
984 |
||
|
INDUSTRY RANKING |
18 |
||
The immediate holding company of the Subject is ROBINA RESOURCES (PTE)
LTD, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
13/12/2012 |
MYR 100,000,000.00 |
MYR 61,000,000.00 |
|
02/03/1995 |
MYR 100,000,000.00 |
MYR 55,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ROBINA RESOURCES (PTE) LTD |
80, MARINE PARADE, 18-01, PARKWAY PARADE, 1544, SINGAPORE. |
XLZ000000726 |
61,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
61,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
648581A |
MALAYSIA |
ROBINA PLANTATION SDN. BHD. |
100.00 |
26/11/2014 |
|
515352A |
MALAYSIA |
ROBINA FLOORING SDN. BHD. |
100.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
JASON LOH HUAI CHIEH @ LUO HUAIJIE |
|
Address |
: |
5, AVON ROAD, 439783, SINGAPORE. |
|
IC / PP No |
: |
S7712768B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
22/09/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
TEOH CHENG KANG |
|
Address |
: |
1, JALAN INDUSTRI 5, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB,
PAHANG, MALAYSIA. |
|
IC / PP No |
: |
S2004888C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
22/08/1994 |
DIRECTOR 3
|
Name Of Subject |
: |
LOH JU FERN |
|
Address |
: |
9, PALM ROAD, 456444, SINGAPORE. |
|
IC / PP No |
: |
2006516 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
23/02/1994 |
DIRECTOR 4
|
Name Of Subject |
: |
ROBBY LOH TSE KANG |
|
Address |
: |
5, AVON ROAD, 439783, SINGAPORE. |
|
IC / PP No |
: |
S0074304F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
07/02/1994 |
DIRECTOR 5
|
Name Of Subject |
: |
CHUA PHAU TEE |
|
Address |
: |
1, JALAN INDUSTRI 5, TAMAN PERINDUSTRIAN, TEMERLOH, MENTAKAB, 28400
MENTAKAB, PAHANG, MALAYSIA. |
|
IC / PP No |
: |
S0570703Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
22/08/1994 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHUA PHAU TEE |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
MOK YOW KONG |
|
Position |
: |
FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
ALBERT YAN |
|
Position |
: |
BUSINESS DEVELOPMENT MANAGER |
|
AUDITOR
|
|
Auditor |
: |
RSM ROBERT TEO,KUAN & CO. |
|
Auditor' Address |
: |
WISMA RKT, BLOCK A, 2, JALAN RAJA ABDULLAH, OFF JALAN SULTAN ISMAIL,
1ST FLOOR, 50300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. ENG BEE HONG |
|
IC / PP No |
: |
8254998 |
|
|
New IC No |
: |
570809-71-5006 |
|
|
Address |
: |
15, JALAN ANGGERIK ERIA 31/104A, KOTA KEMUNING, SEKSYEN 31, 40460 SHAH
ALAM, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
AMBANK (M) BHD |
|
2) |
Name |
: |
AMMERCHANT BANK BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
16/03/1995 |
N/A |
MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD |
MYR 128,000,000.00 |
Satisfied |
|
2 |
18/09/2001 |
N/A |
ARABMALAYSIAN MERCHANT BANK BERHAD |
MYR 86,738,000.00 |
Satisfied |
|
3 |
17/03/2005 |
CREDIT FACILITIES AGREEMENT |
AMMERCHANT BANK BERHAD |
MYR 49,580,000.00 |
Satisfied |
|
4 |
08/04/2005 |
A TRADELINES FACILITIES AGREEMENT, A DEBENTURE, A CHARGE |
AMMERCHANT BANK BERHAD |
MYR 66,080,000.00 |
Satisfied |
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 |
|
Import Countries |
: |
EUROPE,JAPAN,CHINA |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
MIDDLE EAST |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
||||
|
Product Brand Name |
: |
|
||||
|
Competitor(s) |
: |
EVERGREEN FIBREBOARD BHD |
||||
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
|||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
300 |
300 |
300 |
300 |
300 |
302 |
|||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
medium density fibre boards & other wood-based products.
The Subject has the latest German technology built into its production
proccess.
Robin MDF is manufactured by a dry process and continuous pressing. Wood chips
are refined, blended with resin, wax and dried before they are formed into a
mat for pressing at high temperature. The emerging board is sanded then cut
into panels through our sophisticated cut-to-size saw to suit customer
requirements.
The Subject's products can be used to make furniture systems, kitchen cabinets,
bedroom sets, dining sets, TV racks, speaker boxes,flooring, decorative doors,
panel mouldings and others.
Besides producing medium density fibre boards, the Subject also produces solid
doors.
According to the Subject, the doors are produced according to its customers'
requirements.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
09-2719000 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO. 1 JALAN INDUSTR 5, TAMAN PERINDUSTRIAM TEMERLUH 28400 MENTAKAB
PAHANG DARUL MAKMUR |
|
Current Address |
: |
1, JALAN INDUSTRI 5, TAMAN PERINDUSTRIAN TEMERLOH, 28400 MENTAKAB,
PAHANG, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.64% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
12.61% |
] |
|
|
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. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Favourable |
[ |
3.87 Times |
] |
|
|
The Subject was in good liquidity position with its current
liabilities well covered by its current assets. With its net
current assets, the Subject should be able to repay its short term
obligations. |
||||||
|
Solvency |
||||||
|
Liability Ratio |
: |
Favourable |
[ |
0.27 Times |
] |
|
|
A low liabilities ratio has minimised the Subject's financial risk. |
||||||
|
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. The Subject has a low liabilities ratio. It's
liabilities were low and was not vulnerable to the financial risk. |
||||||
|
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 |
|
|
16212 : Manufacture of particle board and fibreboard |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is expected to grow by 5.5% in 2015. It will
be bolstered by strong domestic and export-oriented industries in line with
growing investment activities and favorable external demand. Moreover, in
2014, the manufacturing sectors have spearheading growth. The manufacturing
sector is estimated to grow at a faster pace in 2014 on higher exports of
electronics and electrical (E&E) products as external demand improves. |
|
|
The manufacturing sector expanded strongly during the first half of
2014, the highest growth in three years, spurred by higher global
semiconductor sales. Value-added of the manufacturing sector expanded 7.1%
during the first half of 2014. Production of the sector rose 6.6% in the
first seven months of 2014 supported by resilient domestic demand and
recovery in the external sector during the first seven months of the years.
The sales value of manufactured products rebounded by 7.7% in the first seven
months of 2014. The strong performance of the sector was on account of higher
output at 9.4% from the domestic-oriented industries, particularly transport
equipment, food and beverage. |
|
|
The manufacturing sector continued to attract domestic and foreign investment
with investment approved by Malaysian Investment Development Authority (MIDA)
totaling RM47.4 billion during the first six months of 2014, mainly from
Japan, China and Germany. Meanwhile, the capacity utilization rate remained
steady at 80.4% during the second quarter of 2014 while average wage per
employee and productivity improved to RM2,772 per month and 5.9%,
respectively during the first seven months of 2014. Boosted by favorable
domestic economic activity and recovery in the external sector, the
manufacturing sector is expected to record a better performance with growth
of 6.4% in 2014. |
|
|
In the meantime, production of wood products rebounded by 5.1% largely
supported by higher output in the saw-milling and planning of wood segment at
25.9% during the first seven months of 2014. The positive performance was
attributed to vibrant residential and commercial construction activities
which contributed to increased use of timber frame and glued laminated timber
for cost savings compared to the use of concrete and steel. Increased demand
from major export destination such as the US, Japan and Australia for
Malaysian made furniture contributed to the higher output, particularly
wooden and cane furniture which rebounded by 2.2%. |
|
|
Production of rubber products contracted 0.3% in the first seven
months of 2014 on account of slower demand for rubber gloves and rubber
tyres. The decline in rubber tyres for vehicles was due to the weaker
external demand from the automotive industry, particularly from China. Output
of other rubber products contracted 3.8% following the product shift from
rubber-based to plastics, silicones and metal alloys in the manufacture of
medical devices. |
|
|
Besides, exports of manufactured products are expected to grow 6.1% in
2014 boosted by the growing demand from advanced economies. However, during
the first seven months of 2014, manufactured exports surged 11.4%. The robust
growth was buoyed by strengthening demand in the US and EU, reflecting
significant exposure of Malaysian exports to the economic performance in the
advance economies. The strength in export was broad-based with robust growth
in both E&E and non- E&E subsectors. |
|
|
Under budget 2015, the Government will provide incentive in the form of
capital allowance on automation expenditure to encourage automation in the
manufacturing sector, which may help in the manufacturing sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
ROBIN RESOURCES (MALAYSIA) SDN. BHD. |
|
Financial Year End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
204,219,999 |
202,108,645 |
206,152,453 |
186,241,986 |
221,902,368 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
204,219,999 |
202,108,645 |
206,152,453 |
186,241,986 |
221,902,368 |
|
Costs of Goods Sold |
- |
(157,864,325) |
(151,755,035) |
(142,697,558) |
(160,256,757) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
44,244,320 |
54,397,418 |
43,544,428 |
61,645,611 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
17,672,791 |
3,914,546 |
15,129,102 |
10,855,642 |
56,542,744 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
17,672,791 |
3,914,546 |
15,129,102 |
10,855,642 |
56,542,744 |
|
Taxation |
(3,199,143) |
(1,244,575) |
(7,057,216) |
(512,182) |
(6,113,107) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
14,473,648 |
2,669,971 |
8,071,886 |
10,343,460 |
50,429,637 |
|
Minority interests |
- |
- |
- |
- |
11,536,826 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
14,473,648 |
2,669,971 |
8,071,886 |
10,343,460 |
61,966,463 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
14,473,648 |
2,669,971 |
8,071,886 |
10,343,460 |
61,966,463 |
|
TRANSFER FROM RESERVES |
- |
- |
- |
118,138 |
- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
54,702,978 |
67,283,007 |
79,213,866 |
85,222,268 |
33,015,805 |
|
Prior year adjustment |
- |
- |
(1,702,745) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
54,702,978 |
67,283,007 |
77,511,121 |
85,222,268 |
33,015,805 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
69,176,626 |
69,952,978 |
85,583,007 |
95,683,866 |
94,982,268 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(6,100,000) |
(15,250,000) |
(18,300,000) |
(16,470,000) |
(9,760,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
63,076,626 |
54,702,978 |
67,283,007 |
79,213,866 |
85,222,268 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Hire purchase |
- |
- |
- |
- |
61,916 |
|
Term loan / Borrowing |
- |
- |
- |
- |
2,119,204 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
- |
2,181,120 |
|
|
============= |
============= |
||||
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
ROBIN RESOURCES (MALAYSIA) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
46,517,353 |
50,686,039 |
55,341,676 |
58,822,374 |
68,865,509 |
|
Others |
- |
16,037,501 |
15,321,327 |
13,272,388 |
10,283,917 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
16,037,501 |
15,321,327 |
13,272,388 |
10,283,917 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
46,517,353 |
66,723,540 |
70,663,003 |
72,094,762 |
79,149,426 |
|
Stocks |
- |
44,983,512 |
45,518,285 |
35,153,628 |
38,938,172 |
|
Trade debtors |
- |
20,821,719 |
22,952,281 |
20,503,936 |
24,183,091 |
|
Other debtors, deposits & prepayments |
- |
2,199,297 |
3,063,235 |
3,016,928 |
928,117 |
|
Short term deposits |
- |
19,450,000 |
17,200,000 |
23,900,000 |
16,300,000 |
|
Amount due from associated companies |
- |
- |
10,265,098 |
19,749,798 |
21,162,621 |
|
Cash & bank balances |
- |
9,316,759 |
10,154,547 |
7,583,525 |
12,558,762 |
|
Others |
- |
- |
- |
- |
8,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
126,357,532 |
96,771,287 |
109,153,446 |
109,907,815 |
114,078,763 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
172,874,885 |
163,494,827 |
179,816,449 |
182,002,577 |
193,228,189 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
- |
19,827,672 |
20,712,962 |
17,488,441 |
15,752,758 |
|
Other creditors & accruals |
- |
11,055,452 |
9,205,943 |
8,565,651 |
8,976,454 |
|
Amounts owing to holding company |
- |
4,368 |
- |
424,048 |
- |
|
Amounts owing to related companies |
- |
4,761 |
898,322 |
121,493 |
951,770 |
|
Provision for taxation |
- |
1,310,855 |
4,121,186 |
747,304 |
3,075,020 |
|
Other liabilities |
- |
- |
- |
- |
239,007 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
32,678,346 |
32,203,108 |
34,938,413 |
27,346,937 |
28,995,009 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
93,679,186 |
64,568,179 |
74,215,033 |
82,560,878 |
85,083,754 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
140,196,539 |
131,291,719 |
144,878,036 |
154,655,640 |
164,233,180 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
|
Revaluation reserve |
1,500,000 |
1,500,000 |
1,500,000 |
1,500,000 |
1,500,000 |
|
Exchange equalisation/fluctuation reserve |
- |
- |
- |
- |
118,138 |
|
Retained profit/(loss) carried forward |
63,076,626 |
54,702,978 |
67,283,007 |
79,213,866 |
85,222,268 |
|
Others |
10,400,774 |
10,400,774 |
10,400,774 |
10,400,774 |
10,400,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
74,977,400 |
66,603,752 |
79,183,781 |
91,114,640 |
97,241,180 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
135,977,400 |
127,603,752 |
140,183,781 |
152,114,640 |
158,241,180 |
|
Deferred taxation |
- |
975,000 |
2,144,000 |
2,541,000 |
5,992,000 |
|
Others |
- |
2,712,967 |
2,550,255 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
4,219,139 |
3,687,967 |
4,694,255 |
2,541,000 |
5,992,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
140,196,539 |
131,291,719 |
144,878,036 |
154,655,640 |
164,233,180 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
ROBIN RESOURCES (MALAYSIA) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
- |
28,766,759 |
27,354,547 |
31,483,525 |
28,858,762 |
|
Net Liquid Funds |
- |
28,766,759 |
27,354,547 |
31,483,525 |
28,858,762 |
|
Net Liquid Assets |
93,679,186 |
19,584,667 |
28,696,748 |
47,407,250 |
46,145,582 |
|
Net Current Assets/(Liabilities) |
93,679,186 |
64,568,179 |
74,215,033 |
82,560,878 |
85,083,754 |
|
Net Tangible Assets |
140,196,539 |
131,291,719 |
144,878,036 |
154,655,640 |
164,233,180 |
|
Net Monetary Assets |
89,460,047 |
15,896,700 |
24,002,493 |
44,866,250 |
40,153,582 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
- |
0 |
0 |
0 |
0 |
|
Total Liabilities |
36,897,485 |
35,891,075 |
39,632,668 |
29,887,937 |
34,987,009 |
|
Total Assets |
172,874,885 |
163,494,827 |
179,816,449 |
182,002,577 |
193,228,189 |
|
Net Assets |
140,196,539 |
131,291,719 |
144,878,036 |
154,655,640 |
164,233,180 |
|
Net Assets Backing |
135,977,400 |
127,603,752 |
140,183,781 |
152,114,640 |
158,241,180 |
|
Shareholders' Funds |
135,977,400 |
127,603,752 |
140,183,781 |
152,114,640 |
158,241,180 |
|
Total Share Capital |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
61,000,000 |
|
Total Reserves |
74,977,400 |
66,603,752 |
79,183,781 |
91,114,640 |
97,241,180 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
- |
0.89 |
0.78 |
1.15 |
1.00 |
|
Liquid Ratio |
- |
1.61 |
1.82 |
2.73 |
2.59 |
|
Current Ratio |
3.87 |
3.01 |
3.12 |
4.02 |
3.93 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
- |
81 |
81 |
69 |
64 |
|
Debtors Ratio |
- |
38 |
41 |
40 |
40 |
|
Creditors Ratio |
- |
46 |
50 |
45 |
36 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.27 |
0.28 |
0.28 |
0.20 |
0.22 |
|
Times Interest Earned Ratio |
- |
0.00 |
0.00 |
0.00 |
26.92 |
|
Assets Backing Ratio |
2.30 |
2.15 |
2.38 |
2.54 |
2.69 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
8.65 |
1.94 |
7.34 |
5.83 |
25.48 |
|
Net Profit Margin |
7.09 |
1.32 |
3.92 |
5.55 |
27.93 |
|
Return On Net Assets |
12.61 |
2.98 |
10.44 |
7.02 |
35.76 |
|
Return On Capital Employed |
12.61 |
2.98 |
10.44 |
7.02 |
35.76 |
|
Return On Shareholders' Funds/Equity |
10.64 |
2.09 |
5.76 |
6.80 |
39.16 |
|
Dividend Pay Out Ratio (Times) |
0.42 |
5.71 |
2.27 |
1.59 |
0.16 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
- |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.92.53 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.