|
Report No. : |
316929 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASIALOGIC SDN. BHD. |
|
|
|
|
Registered Office : |
2a-03-2, Lorong Batu Nilam 4a, Bandar Bukit Tinggi, 41200 Klang, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.07.2013 |
|
|
|
|
Date of Incorporation : |
13.07.2009 |
|
|
|
|
Com. Reg. No.: |
864316-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the logistics services. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
864316-D |
||||
|
COMPANY NAME |
: |
ASIALOGIC SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
13/07/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
2A-03-2, LORONG BATU NILAM 4A, BANDAR BUKIT TINGGI, 41200 KLANG,
SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
52, JALAN KULUR, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31678685 |
||||
|
FAX.NO. |
: |
03-31678685 |
||||
|
CONTACT PERSON |
: |
GOH KOK CHIN ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
52299 |
||||
|
PRINCIPAL ACTIVITY |
: |
LOGISTICS SERVICES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 74,580 [2013] |
||||
|
NET WORTH |
: |
MYR 223,772 [2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) logistics
services.
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 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. CHIA POH KENG + |
2, JALAN RASAU, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
700624-10-5204 A1541681 |
1.00 |
50.00 |
|
MS. LEE CHEAU LING |
10, LORONG CUCOR ATAP, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
740401-10-5844 A2729041 |
1.00 |
50.00 |
|
--------------- |
------ |
|||
|
2.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. GOH KOK CHIN |
|
Address |
: |
2, JALAN RASAU, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
7312678 |
|
New IC No |
: |
640424-10-7297 |
|
Date of Birth |
: |
24/04/1964 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/11/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. CHIA POH KENG |
|
Address |
: |
2, JALAN RASAU, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1541681 |
|
New IC No |
: |
700624-10-5204 |
|
Date of Birth |
: |
24/06/1970 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/07/2009 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
GOH KOK CHIN |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
TAN CHE & ASSOCIATES |
|
Auditor' Address |
: |
34-36, LORONG GOPENG, 41400 KLANG, SELANGOR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. CHEW KIM CHYE |
|
New IC No |
: |
520711-10-5167 |
|
|
Address |
: |
44, JALAN BUNGA RAYA, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the Subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
CLIENTELE
|
|
Local |
: |
N/A |
|||
|
Overseas |
: |
N/A |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
The Subject refused to disclose information on its clientele.
OPERATIONS
|
|
Services |
: |
LOGISTICS SERVICES |
||
|
Competitor(s) |
: |
GOLDEN SCREEN CINEMAS SDN BHD |
||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) logistics
services.
The Subject is involve in logistic.
However, the Subject refuse to disclose detail information regarding to its
business operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-31678685 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO. 52, JALAN KULUR 42OOO, PORT KLANG SE|JNGOR DARUL EHSAN MALAYSIA |
|
Current Address |
: |
52, JALAN KULUR, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she only provided limited
information on the Subject.
She Subject refused to disclose the number of employees.
The address provided is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.52% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
18.33% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.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. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Favourable |
[ |
11.78 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 |
[ |
0.09 Times |
] |
|
|
A low liabilities ratio has minimised the Subject's financial risk. |
||||||
|
Overall Assessment : |
||||||
|
The Subject recorded lower profits as its turnover showed a erratic trend.
The Subject's management was unable to control its costs efficiently as its
profit showed a downward trend. 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 |
|
|
52299 : Other transportation support activities n.e.c. |
|
|
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
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
ASIALOGIC SDN. BHD. |
|
Financial Year End |
2013-07-31 |
2012-07-31 |
2011-07-31 |
2010-07-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
SUMMARY |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
74,580 |
172,890 |
161,430 |
27,160 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
74,580 |
172,890 |
161,430 |
27,160 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
41,016 |
118,227 |
114,968 |
6,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
41,016 |
118,227 |
114,968 |
6,929 |
|
Taxation |
(8,518) |
(23,886) |
(23,266) |
(1,700) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
32,498 |
94,341 |
91,702 |
5,229 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
191,272 |
96,931 |
5,229 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
191,272 |
96,931 |
5,229 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
223,770 |
191,272 |
96,931 |
5,229 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
223,770 |
191,272 |
96,931 |
5,229 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
ASIALOGIC SDN. BHD. |
|
Trade debtors |
- |
- |
- |
2,580 |
|
Cash & bank balances |
- |
- |
- |
16,311 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
244,532 |
251,184 |
157,325 |
18,891 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
244,532 |
251,184 |
157,325 |
18,891 |
|
============= |
============= |
============= |
============= |
|
|
Other creditors & accruals |
- |
- |
- |
1,760 |
|
Amounts owing to director |
- |
- |
- |
10,200 |
|
Provision for taxation |
- |
- |
- |
1,700 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
20,760 |
59,910 |
60,392 |
13,660 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
223,772 |
191,274 |
96,933 |
5,231 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
223,772 |
191,274 |
96,933 |
5,231 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
2 |
2 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2 |
2 |
2 |
2 |
|
Retained profit/(loss) carried forward |
223,770 |
191,272 |
96,931 |
5,229 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
223,770 |
191,272 |
96,931 |
5,229 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
223,772 |
191,274 |
96,933 |
5,231 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
223,772 |
191,274 |
96,933 |
5,231 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
ASIALOGIC SDN. BHD. |
|
TYPES OF FUNDS |
||||
|
Cash |
- |
- |
- |
16,311 |
|
Net Liquid Funds |
- |
- |
- |
16,311 |
|
Net Liquid Assets |
223,772 |
191,274 |
96,933 |
5,231 |
|
Net Current Assets/(Liabilities) |
223,772 |
191,274 |
96,933 |
5,231 |
|
Net Tangible Assets |
223,772 |
191,274 |
96,933 |
5,231 |
|
Net Monetary Assets |
223,772 |
191,274 |
96,933 |
5,231 |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
- |
- |
- |
6,929 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
- |
- |
- |
6,929 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
- |
- |
- |
0 |
|
Total Liabilities |
20,760 |
59,910 |
60,392 |
13,660 |
|
Total Assets |
244,532 |
251,184 |
157,325 |
18,891 |
|
Net Assets |
223,772 |
191,274 |
96,933 |
5,231 |
|
Net Assets Backing |
223,772 |
191,274 |
96,933 |
5,231 |
|
Shareholders' Funds |
223,772 |
191,274 |
96,933 |
5,231 |
|
Total Share Capital |
2 |
2 |
2 |
2 |
|
Total Reserves |
223,770 |
191,272 |
96,931 |
5,229 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
- |
- |
- |
1.19 |
|
Liquid Ratio |
- |
- |
- |
1.38 |
|
Current Ratio |
11.78 |
4.19 |
2.61 |
1.38 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
- |
- |
- |
0 |
|
Debtors Ratio |
- |
- |
- |
35 |
|
Creditors Ratio |
- |
- |
- |
0 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
- |
- |
- |
0.00 |
|
Liabilities Ratio |
0.09 |
0.31 |
0.62 |
2.61 |
|
Times Interest Earned Ratio |
- |
- |
- |
0.00 |
|
Assets Backing Ratio |
111,886.00 |
95,637.00 |
48,466.50 |
2,615.50 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
55.00 |
68.38 |
71.22 |
25.51 |
|
Net Profit Margin |
43.57 |
54.57 |
56.81 |
19.25 |
|
Return On Net Assets |
18.33 |
61.81 |
118.61 |
132.46 |
|
Return On Capital Employed |
18.33 |
61.81 |
118.61 |
132.46 |
|
Return On Shareholders' Funds/Equity |
14.52 |
49.32 |
94.60 |
99.96 |
|
Dividend Pay Out Ratio (Times) |
- |
- |
- |
0.00 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
- |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.