|
|
REGISTRATION
NO.
|
:
|
239857-T
|
|
COMPANY NAME
|
:
|
ASA NIAGA
PELABUHAN BARTER TRADE SDN. BERHAD
|
|
FORMER NAME
|
:
|
ASA NIAGA
BARTER TRADE SDN BHD (02/06/2006)
PNSB-JETTY SDN BHD (01/03/2001)
DAYUNG SAMUDERA SDN BHD (29/10/1992)
ASA NIAGA JETI SDN BHD
|
|
INCORPORATION
DATE
|
:
|
09/05/1992
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED (LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
WISMA DATO'
SHAARI, KOMPLEKS BARTER TRADE, LOT 14473, JALAN PELABUHAN, TINGKAT 5, 42000
PELABUHAN KLANG, SELANGOR, MALAYSIA.
|
|
BUSINESS
ADDRESS
|
:
|
WISMA DATO'
SHAARI, KOMPLEKS BARTER TRADE, LOT 14473, JALAN PELABUHAN, TINGKAT 5, 42000
PELABUHAN KLANG, SELANGOR, MALAYSIA.
|
|
TEL.NO.
|
:
|
03-31659619
|
|
FAX.NO.
|
:
|
03-31659628
|
|
CONTACT PERSON
|
:
|
SARI @ SHAARI
BIN MAJIHIN ( DIRECTOR )
|
|
|
|
|
INDUSTRY CODE
|
:
|
52291
|
|
PRINCIPAL
ACTIVITY
|
:
|
BARTER TRADE,
JETTY SERVICE
|
|
AUTHORISED
CAPITAL
|
:
|
MYR
10,000,000.00 DIVIDED INTO
ORDINARY SHARE 10,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
MYR 10,000,000.00
DIVIDED INTO
ORDINARY SHARES 10,000,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER
CHECK
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
N/A
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY
OUTLOOK
|
:
|
MARGINAL
GROWTH
|
The Subject is a private limited company
and is allowed to have a minimum of one and a maximum of forty-nine
shareholders. As a private limited company, the Subject must have at least
two directors. A private limited company is a separate legal entity from its
shareholders. As a separate legal entity, the Subject is capable of owning
assets, entering into contracts, sue or be sued by other companies. The
liabilities of the shareholders are to the extent of the equity they have taken
up and the creditors cannot claim on shareholders' personal assets even if
the Subject is insolvent. The Subject is governed by the Companies Act, 1965
and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The Subject is principally engaged in the
(as a / as an) barter trade, jetty service.
The Subject is not listed on Bursa
Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date
|
Authorised
Shared Capital
|
Issue & Paid
Up Capital
|
|
15/02/2013
|
MYR
10,000,000.00
|
MYR
10,000,000.00
|
The major shareholder(s) of the Subject
are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MR. SARI @
SHAARI BIN MAJIHIN +
|
10, SOLOK TEMBAGA,
OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
410530-08-5059
3749124
|
5,000,000.00
|
50.00
|
|
DATIN NOR
AZIAH BINTI BUDIN +
|
10, SOLOK
TEMBAGA, OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
531121-10-5128
4734096
|
1,000,000.00
|
10.00
|
|
MS. NOR
AZLINDA BINTI SHA'ARI
|
10, SOLOK
TEMBAGA, OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
730927-10-5022
A2574357
|
1,000,000.00
|
10.00
|
|
MR. FAIZUL
AZRIN BIN SARI @ SHAARI +
|
10, SOLOK TEMBAGA,
OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
790421-10-5329
|
1,000,000.00
|
10.00
|
|
MR. AZHARI BIN
SHAARI
|
2, JALAN ZENG,
KAWASAN 15, KAMPUNG KUANTAN, 41300 KLANG, SELANGOR, MALAYSIA.
|
700521-10-6175
A1541110
|
1,000,000.00
|
10.00
|
|
MS. NOR AZLIZA
BINTI SHA'ARI
|
26, JALAN
DATO'ABDUL HAMID 12, TAMAN SENTOSA, 41200 KLANG, SELANGOR, MALAYSIA.
|
821009-10-5262
|
1,000,000.00
|
10.00
|
|
|
|
---------------
|
------
|
|
|
|
10,000,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
DATIN NOR
AZIAH BINTI BUDIN
|
|
Address
|
:
|
10, SOLOK
TEMBAGA, OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
4734096
|
|
New IC No
|
:
|
531121-10-5128
|
|
Date of Birth
|
:
|
21/11/1953
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
08/01/2001
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
MR. FAIZUL
AZRIN BIN SARI @ SHAARI
|
|
Address
|
:
|
10, SOLOK TEMBAGA,
OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
New IC No
|
:
|
790421-10-5329
|
|
Date of Birth
|
:
|
21/04/1979
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
08/09/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of
Subject
|
:
|
MR. SARI @
SHAARI BIN MAJIHIN
|
|
Address
|
:
|
10, SOLOK
TEMBAGA, OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
|
IC / PP No
|
:
|
3749124
|
|
New IC No
|
:
|
410530-08-5059
|
|
Date of Birth
|
:
|
30/05/1941
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of
Appointment
|
:
|
01/02/1993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
SARI @ SHAARI
BIN MAJIHIN
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
No Auditor found in our databank
|
1)
|
Company
Secretary
|
:
|
MR. SARI @
SHAARI BIN MAJIHIN
|
|
IC / PP No
|
:
|
3749124
|
|
New IC No
|
:
|
410530-08-5059
|
|
Address
|
:
|
10, SOLOK
TEMBAGA, OFF JALAN PERAK, 41300 KLANG, SELANGOR, MALAYSIA.
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
1)
|
Name
|
:
|
MALAYAN
BANKING BHD
|
|
|
|
|
|
|
|
|
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
1
|
23/05/2002
|
N/A
|
BANK
PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD
|
MYR
2,780,000.00
|
Unsatisfied
|
|
2
|
17/02/2004
|
N/A
|
MALAYAN
BANKING BERHAD
|
MYR
3,900,000.00
|
Satisfied
|
|
3
|
02/11/2007
|
N/A
|
MALAYAN
BANKING BHD
|
-
|
Satisfied
|
|
4
|
02/06/2008
|
N/A
|
BANK MUAMALAT
MALAYSIA BHD
|
-
|
Satisfied
|
|
5
|
25/03/2011
|
N/A
|
BANK
PERUSAHAAN KECIL & SEDERHANA MALAYSIA BHD
|
-
|
Unsatisfied
|
|
6
|
13/04/2011
|
N/A
|
RHB BANK BHD
|
-
|
Unsatisfied
|
|
7
|
13/04/2011
|
N/A
|
RHB BANK BHD
|
-
|
Unsatisfied
|
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.
|
|
|
SOURCES OF RAW
MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
The Subject is a service provider.
|
Local
|
:
|
N/A
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose its clientele.
|
Services
|
:
|
BARTER TRADE,
JETTY SERVICE
|
|
|
|
Other
Information:
The Subject is principally engaged in the (as a / as an) barter trade, jetty
service.
The Subject provides jetty and port related services.
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
03-31659619
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address
Provided by Client
|
:
|
WLSMA DATO
SHAAR|, NO. T2-37, TTNGKAT 2, LOT L4473, ,ALAN PELABUHAN 42OOO PORTKI.ANG,
SEIANGOR DARUL EHSAN
|
|
Current
Address
|
:
|
WISMA DATO' SHAARI,
KOMPLEKS BARTER TRADE, LOT 14473, JALAN PELABUHAN, TINGKAT 5, 42000
PELABUHAN KLANG, SELANGOR, MALAYSIA.
|
|
Match
|
:
|
NO
|
|
|
|
|
Latest
Financial Accounts
|
:
|
NO
|
Other
Investigations
On 10th April 2015 we contacted one of the staff from the Subject and he only
provided limited information.
The address provided also belongs to the Group.
The Subject refused to disclose its number of employees.
|
The Subject's
latest financial accounts are up to 2011 which is out dated in our opinion.
Therefore, our comment on the Subject financial performance is restricted
thereto.
|
|
|
|
|
|
|
|
|
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
|
|
MSIC CODE
|
|
52291 :
Forwarding of freight
|
|
|
|
INDUSTRY :
|
TRANSPORTATION
|
|
|
|
|
In 2015, the
transport and storage subsector is expected to growth by 4.7% due to the
implementation of Government Transformation Programme (GTP) and the
Economic Transformation Programme (ETP). On the other hand, for 2014, due
to resilient domestic economic activity and improving global trade, the
transport and storage subsector is expected to grow 5%.
|
|
|
Moreover, the
land transport segment continued to record positive growth of 6.2% during
the first half of 2014 supported by higher freight transported by road in
line with improvement in trade-related activity. The opening of Penang
Second Bridge in March 2014 saw a healthy number of vehicles using it to
avoid traffic congestion. However, the increase in passenger volume for bus
services was only 1.9% over the first six months in 2014 (January - July
2013: 6%).
|
|
|
Meanwhile,
total rail ridership in the Klang Valley increased 5.9% passengers due to
improved service efficiency and increased frequencies. The 2.14KM extension
of Express Rail Link (ERL) from KLIA to KLIA2 will also increase rail
ridership. However, KTM Intercity Service contracted 18% because of the
fewer number of coaches in operation due to maintenance issues. Other than
that, The Electric Train Service (ETS) ridership on the Kuala Lumpur - Ipoh
route increased 11.7% supported by higher demand.
|
|
|
During the first
half in 2014, the air transport segment expanded 4.9% supported by higher
tourist arrivals and domestic passengers amid continuous promotion of
travel packages with competitive fares by airlines. The air passenger
segment continued to record positive with total passenger traffic at
airports nationwide increasing 10.3% during the first seven moths of 2014.
|
|
|
According to
Budget 2015, to improve the public transport system, the Government will
introduce the programmes included providing intercity bus services to those
residing outside Kuala Lumpur (KL) but work in KL, provide Electric Train
Service (ETS) for Ipoh-Butterworth route starting April 2015, and upgrade
stage bus services in several states (Kuching, Ipoh, Seremban, Kuala
Terengganu and Kangar) through a contracting system with existing bus
companies. The budget 2015 for transportation sector includes RM9 billion
development allocation for a LRT extension project from Bandar Utama to
Shah Alam and Klang, and RM23 billion for a second MRT line from Selayang
to Putrajaya. Government also will allocate RM5.3 billion for the
construction of Sungai Besi - Ulu Klang Expressway (SUKE), RM5 billion for
West Coast Expressway from Taiping to Banting, RM4.2 billion for
construction of Damansara - Shah Alam Highway (DASH), and RM1.6 billion for
construction of Eastern Klang Valley Expressway (EKVE).
|
|
|
Additionally,
improving urban public transport (UPT) is one of the National Key Result
Areas (NKRAs) under the Government Transformation Programme (GTP). The aim
is to improve the overall availability and efficiency of UPT, including
enhancing connectivity, providing an integrated system and ensuring
adequate facilities. Because of the improvement to UPT in the Klang Valley,
the public transport modal share has increased from 17% in 2010 to 21% in
2013. The programme covers improvement for Bus Services (RapidKL, Bus
Expressway Transit (BET), Bus Rapid Transit (BRT), bus stops), Rail System
(KTM, LRT, KL Monorail, Express Rail Link (ERL), MRT, Park n' Ride), and
Taxi Services.
|
|
|
The Klang
Valley Mass Transit Project (KVMRT) is one of the improvements to do for
UPT and it may boost the growth of transportation sector. The Sungai Buloh -
Kajang (SBK) line has started construction in 2012. The first phase of SBK
Line from Sungai Buloh to Semantan will be operational on 31 December 2016,
while the second phase from Semantan to Kajang will be operational on 31
July 2017.
|
|
|
Furthermore,
the Bus Rapid Transit (BRT) aims to create a dedicated bus right-of-way at
main corridors and is a specialized form of bus priority services to meet
the high level of passenger demand by incorporating aspects of mass
transit. One of the BRT corridors is the Kuala Lumpur - Klang corridor,
covering a distance of 34KM, and will pass through Federal Highway, Jalan
Syed Putra, and Jalan Tun Sambanthan. The KL-Klang BRT is estimated to save
more than one hour of daily travelling time for 600,000 passengers, and is
expected to be completed in 2017.
|
|
|
In order to
improve taxi services, the Centralized Taxi Services System (CTSS) will be
launched in 2015. It is a technology infrastructure to monitor taxi
services. It integrates and enhances the existing booking system. It is
targeted to raise the success rate of meeting passenger bookings. Besides,
a new business model for taxis has been introduced to increase the
take-home income for taxi drivers by reducing their operating cost. Under
the Taxi 1Malaysia project, licenses will be offered to individual drivers.
The Land Public Transport Commission (SPAD) has launched a fleet of new
taxis known as Teksi 1Malaysia (TEKS1M). Through the TEKS1M initiative,
1,000 new Proton Exora will be deployed in 2014.
|
|
|
|
OVERALL
INDUSTRY OUTLOOK : Marginal Growth
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
Incorporated in 1992, the Subject is a Private Limited company, focusing on
barter trade, jetty service. The Subject has been in business for over two
decades. It has built up a strong clientele base and satisfactory
reputation will enable the Subject to further enhance its business in the
near term. The Subject is expected to enjoy a stable market shares. A paid
up capital of MYR 10,000,000 allows the Subject to expand its business more
comfortably. However, the Subject does not have strong shareholders’
backing. Without a strong shareholders' backing, the opportunity of the Subject
to expand its business is limited.
Overall, we regard that the Subject's management capability is average.
This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject.
No latest financial accounts were filed with the Registry office during our
inspection. Therefore, our comment on the Subject's overall financial
performance are restricted thereto.
Without a strong assets backing, the Subject may face difficulties in
getting loans for its future expansion and continued growth .
The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the Subject's future performance is very much
depend on its marketing strategies in order to retain its position in the
market.
In view of the above, we only recommend credit be proceeded to the Subject
with guarantee.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS)
|
|
Financial Year
End
|
2011-12-31
|
2010-12-31
|
2009-12-31
|
2008-12-31
|
2007-12-31
|
|
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
|
|
|
|
|
|
|
|
TURNOVER
|
3,742,065
|
3,837,172
|
3,877,468
|
3,480,929
|
3,298,588
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
3,742,065
|
3,837,172
|
3,877,468
|
3,480,929
|
3,298,588
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
17,957
|
31,922
|
37,320
|
62,079
|
12,159
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
17,957
|
31,922
|
37,320
|
62,079
|
12,159
|
|
Taxation
|
(35,127)
|
(67,702)
|
(100,464)
|
(12,423)
|
(8,583)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
(17,170)
|
(35,780)
|
(63,144)
|
49,656
|
3,576
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD
|
|
|
|
|
|
|
As previously
reported
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
(538,822)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
(538,822)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
(601,684)
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
(601,684)
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
ASSETS
EMPLOYED:
|
|
|
|
|
|
|
FIXED ASSETS
|
6,403,816
|
5,980,970
|
6,007,984
|
5,996,874
|
5,811,773
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
6,403,816
|
5,980,970
|
6,007,984
|
5,996,874
|
5,811,773
|
|
|
|
|
|
|
|
TOTAL CURRENT
ASSETS
|
5,578,039
|
5,626,220
|
9,900,496
|
8,668,075
|
11,257,962
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
11,981,855
|
11,607,190
|
15,908,480
|
14,664,949
|
17,069,735
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES
|
2,126,013
|
2,191,704
|
5,606,926
|
3,292,887
|
13,975,154
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
3,452,026
|
3,434,516
|
4,293,570
|
5,375,188
|
(2,717,192)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
9,855,842
|
9,415,486
|
10,301,554
|
11,372,062
|
3,094,581
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
|
Ordinary share
capital
|
10,000,000
|
10,000,000
|
10,000,000
|
10,000,000
|
2,000,000
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
10,000,000
|
10,000,000
|
10,000,000
|
10,000,000
|
2,000,000
|
|
|
|
|
|
|
|
Retained
profit/(loss) carried forward
|
(601,684)
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
(601,684)
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
9,398,316
|
9,415,486
|
9,451,266
|
9,514,410
|
1,464,754
|
|
|
|
|
|
|
|
TOTAL LONG
TERM LIABILITIES
|
457,526
|
-
|
850,288
|
1,857,652
|
1,629,827
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
9,855,842
|
9,415,486
|
10,301,554
|
11,372,062
|
3,094,581
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
TYPES OF FUNDS
|
|
|
|
|
|
|
Net Liquid
Assets
|
3,452,026
|
3,434,516
|
4,293,570
|
5,375,188
|
(2,717,192)
|
|
Net Current
Assets/(Liabilities)
|
3,452,026
|
3,434,516
|
4,293,570
|
5,375,188
|
(2,717,192)
|
|
Net Tangible
Assets
|
9,855,842
|
9,415,486
|
10,301,554
|
11,372,062
|
3,094,581
|
|
Net Monetary
Assets
|
2,994,500
|
3,434,516
|
3,443,282
|
3,517,536
|
(4,347,019)
|
|
|
|
|
|
|
|
BALANCE SHEET
ITEMS
|
|
|
|
|
|
|
Total
Liabilities
|
2,583,539
|
2,191,704
|
6,457,214
|
5,150,539
|
15,604,981
|
|
Total Assets
|
11,981,855
|
11,607,190
|
15,908,480
|
14,664,949
|
17,069,735
|
|
Net Assets
|
9,855,842
|
9,415,486
|
10,301,554
|
11,372,062
|
3,094,581
|
|
Net Assets
Backing
|
9,398,316
|
9,415,486
|
9,451,266
|
9,514,410
|
1,464,754
|
|
Shareholders'
Funds
|
9,398,316
|
9,415,486
|
9,451,266
|
9,514,410
|
1,464,754
|
|
Total Share
Capital
|
10,000,000
|
10,000,000
|
10,000,000
|
10,000,000
|
2,000,000
|
|
Total Reserves
|
(601,684)
|
(584,514)
|
(548,734)
|
(485,590)
|
(535,246)
|
|
|
|
|
|
|
|
LIQUIDITY
(Times)
|
|
|
|
|
|
|
Current Ratio
|
2.62
|
2.57
|
1.77
|
2.63
|
0.81
|
|
|
|
|
|
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
|
|
|
Liabilities
Ratio
|
0.27
|
0.23
|
0.68
|
0.54
|
10.65
|
|
Assets Backing
Ratio
|
0.99
|
0.94
|
1.03
|
1.14
|
1.55
|
|
|
|
|
|
|
|
PERFORMANCE RATIO
(%)
|
|
|
|
|
|
|
Operating
Profit Margin
|
0.48
|
0.83
|
0.96
|
1.78
|
0.37
|
|
Net Profit
Margin
|
(0.46)
|
(0.93)
|
(1.63)
|
1.43
|
0.11
|
|
Return On Net
Assets
|
0.18
|
0.34
|
0.36
|
0.55
|
0.39
|
|
Return On
Capital Employed
|
0.18
|
0.34
|
0.36
|
0.55
|
0.39
|
|
Return On
Shareholders' Funds/Equity
|
(0.18)
|
(0.38)
|
(0.67)
|
0.52
|
0.24
|
|
|
|
|
|
|
|