|
Report No. : |
317295 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VES SOLUTION SDN. BHD. |
|
|
|
|
Registered Office : |
40-1A & 1B, Blok 8, Jalan Pahat H 15/H, Kompleks Otomobil, Seksyen 15, Tingkat 1, 40200 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.12.2010 |
|
|
|
|
Com. Reg. No.: |
926596-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of construction equipments. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself
since the 1970s from a producer of raw materials into an emerging multi-sector
economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve
high-income status by 2020 and to move farther up the value-added production
chain by attracting investments in Islamic finance, high technology industries,
biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. The NAJIB administration also is continuing efforts to
boost domestic demand and reduce the economy's dependence on exports.
Nevertheless, exports - particularly of electronics, oil and gas, palm oil and
rubber - remain a significant driver of the economy. As an oil and gas
exporter, Malaysia has profited from higher world energy prices, although the
rising cost of domestic gasoline and diesel fuel, combined with sustained
budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls,
through initial reductions in energy and sugar subsidies and the announcement
of the 2015 implementation of a 6% goods and services tax. Falling global oil
prices in the second half of 2014 have shrunk Malaysia’s current account
surplus and put downward pressure on the ringgit. 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.
Malaysia is a member of the 12-nation Trans-Pacific Partnership free trade
agreement negotiations and, with the nine other ASEAN members, will form the
ASEAN Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
926596-W |
||||
|
COMPANY NAME |
: |
VES SOLUTION SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
23/12/2010 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
40-1A & 1B, BLOK 8, JALAN PAHAT H 15/H, KOMPLEKS OTOMOBIL, SEKSYEN
15, TINGKAT 1, 40200 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
14A, JALAN KOTA RAJA E27/E, HICOM TOWN CENTRE, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
N/A |
||||
|
FAX.NO. |
: |
N/A |
||||
|
HP.NO. |
: |
0193506383 |
||||
|
CONTACT PERSON |
: |
ZAMRI BIN MOHD YUSOF ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46633 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CONSTRUCTION EQUIPMENTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 388,360 [2012] |
||||
|
NET WORTH |
: |
MYR 97,574 [2012] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
WEAK |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) trading of
construction equipments.
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 1,000,000.00 |
MYR 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. AZHAR BIN ABD RAHMAN + |
6, JALAN 8/25, SEKSYEN 8, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
560329-08-5923 5015938 |
35,000.00 |
35.00 |
|
MR. ZAMRI BIN MOHD YUSOF + |
LOT 6350, JALAN JAYA SETIA, KAMPUNG BUKIT KAPAR, 42200 KAPAR,
SELANGOR, MALAYSIA. |
750527-01-6627 A3094755 |
35,000.00 |
35.00 |
|
MR. MOHD RAIZAN ZULKARNAIN BIN MAT NOR + |
LOT 11591, TAMAN MESRA, 43000 KAJANG, SELANGOR, MALAYSIA. |
770715-07-5593 A3622991 |
30,000.00 |
30.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. MOHD RAIZAN ZULKARNAIN BIN MAT NOR |
|
Address |
: |
LOT 11591, TAMAN MESRA, 43000 KAJANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3622991 |
|
New IC No |
: |
770715-07-5593 |
|
Date of Birth |
: |
15/07/1977 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/12/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. ZAMRI BIN MOHD YUSOF |
|
Address |
: |
LOT 6350, JALAN JAYA SETIA, KAMPUNG BUKIT KAPAR, 42200 KAPAR,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3094755 |
|
New IC No |
: |
750527-01-6627 |
|
Date of Birth |
: |
27/05/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/12/2010 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. AZHAR BIN ABD RAHMAN |
|
Address |
: |
6, JALAN 8/25, SEKSYEN 8, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5015938 |
|
New IC No |
: |
560329-08-5923 |
|
Date of Birth |
: |
29/03/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/12/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ZAMRI BIN MOHD YUSOF |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. MOHD NORHAFIDZ BIN BUYONG |
|
IC / PP No |
: |
A3444063 |
|
|
New IC No |
: |
761009-14-5959 |
|
|
Address |
: |
25, LORONG JAYA SATU, BANDAR TUN RAZAK, CHERAS, 56000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. FADHILAH BINTI HJ.AHMAD |
|
IC / PP No |
: |
A2469287 |
|
|
New IC No |
: |
730716-09-5098 |
|
|
Address |
: |
29, JALAN KELANG GATE 27/45, TAMAN BUNGA NEGARA, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CONSTRUCTION EQUIPMENTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of construction
equipments.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
0193506383 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO. 14A, JALAN KOTA RAJA E / 27 E, TAMAN ALAM MEGAH SEKSYEN 27 HICOM
TOWN CENTER 40400 SHAH ALAM SELANGOR DARULSEKSYEN 27 EHSAN |
|
Current Address |
: |
14A, JALAN KOTA RAJA E27/E, HICOM TOWN CENTRE, 40400 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the Subject's Director Mr Zamri and he provided limited information.
He refused to disclose the fax number and number of employees.
The address provided is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
The Subject's latest financial accounts are up to 2012 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 |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
46633 : Wholesale of construction materials |
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade is expected to increase 7.1% in 2015 (2014:
7.7%) driven by strong domestic consumption and higher tourist arrivals
following the Malaysia Year of Festivals 2015. Besides, in 2014, the
wholesale and retail trade subsector is expected to increase 7.7% (2013:
6.4%) supported by strong domestic consumption. |
|
|
According to Retail Group Malaysia (RGM), the pharmacy and personal
care sub-sector had slow growth rate of 2.6% for the first quarter of 2014,
while "other specialty stores" grew at a rate of 3.5%. During the first
quarter of 2014, fashion and fashion accessories recorded a sustainable
growth of 6.3% as compared with the same period last year (3.6%). |
|
|
The retail segment increased 10.1% (January - June 2013: 7.1%)
attributed to brisk sales in retail outlets such as hypermarkets and
large-scale superstores. Since the launch of the Small Retailer
Transformation programme (TUKAR) in January 2011 up to end-July 2014, 1,761
small retailer stores (end-July 2013: 1,381) have been modernized to improve
their competitiveness. In addition, the strong growth of the retail segment
was supported by 1Malaysia Unified Sales held from 29 June 2014 to 1
September 2014 to attract foreign and local tourists to shop in Malaysia.
Meanwhile, the wholesale segment expanded 8.2% (January - June 2013: 4.9%)
due to higher sales of non-agricultural intermediate products, such as
petrol, diesel, lubricants and household goods. Furthermore, food and
beverage outlets, laundry outlets, car wash centres, abd health and beauty
outlets took a hit from the water rationing in the Klang Valley since
February this year. |
|
|
On the other hand, in 2014, Malaysia's total trade is expected to grow
5.2% to RM1.44 trillion (2013: 4.5%; RM1.37 trillion) underpinned by recovery
in key advanced economies, resilient regional demand, and partly due to the
base effect arising from sluggish exports in the corresponding period last
year. Gross exports are anticipated to expand 6% to RM762.8 billion while
import decreased 4.3% to RM677.2 billion (2013: 2.4%; RM719.8 billion; 7%; RM
649.1 billion). Consequently, the trade surplus is expected to be higher at
RM85.6 billion or 7.9% of GDP in 2014 (2013: RM70.7 billion; 7.2%). |
|
|
Furthermore, gross exports rebounded by 10.7% to RM441.3 billion during
the first seven months of 2014 (January - July 2013: -2.8%; RM398.5 billion),
with manufactured and mining exports rising at a double digit pace of 11.4%
and 12.5%. Shipment of agriculture products grew at a slower pace of 2.7%,
primarily due to lower receipts of crude rubber (-24.6%) while export growth
of other commodities remained steady. Consequently, exports of manufactured
and mining products are expected to grow 6.1% and 6.4% in 2014 (2013: 5.1%;
3.3%). Meanwhile, agriculture exports are expected to rebound sharply by 4.5%
in 2014 (2013: -14.4%) despite moderating commodity prices. Malaysia's top 3
trading partners are China, Singapore, and Japan. |
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption. Therefore the wholesale and retail sector plays a crucial role
in driving Malaysia's growth over the next decade despite the ongoing global
economic slowdown. By 2020, Malaysia's wholesale and retail sector is
expected to boost the country's total Gross National Income (GNI) by RM156
billion, creating 454,190 new jobs. |
|
|
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) |
|
VES SOLUTION SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
|
TURNOVER |
388,360 |
824,749 |
|
---------------- |
---------------- |
|
|
Total Turnover |
388,360 |
824,749 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
5,983 |
(4,869) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
5,983 |
(4,869) |
|
Taxation |
(3,540) |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,443 |
(4,869) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(4,869) |
- |
|
---------------- |
---------------- |
|
|
As restated |
(4,869) |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(2,426) |
(4,869) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(2,426) |
(4,869) |
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
VES SOLUTION SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
80,178 |
4,576 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
80,178 |
4,576 |
|
TOTAL CURRENT ASSETS |
108,349 |
149,972 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
188,527 |
154,548 |
|
============= |
============= |
|
|
TOTAL CURRENT LIABILITIES |
37,851 |
59,417 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
70,498 |
90,555 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
150,676 |
95,131 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
100,000 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
|
Retained profit/(loss) carried forward |
(2,426) |
(4,869) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(2,426) |
(4,869) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
97,574 |
95,131 |
|
TOTAL LONG TERM LIABILITIES |
53,102 |
- |
|
---------------- |
---------------- |
|
|
150,676 |
95,131 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
|
VES SOLUTION SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Net Liquid Assets |
70,498 |
90,555 |
|
Net Current Assets/(Liabilities) |
70,498 |
90,555 |
|
Net Tangible Assets |
150,676 |
95,131 |
|
Net Monetary Assets |
17,396 |
90,555 |
|
BALANCE SHEET ITEMS |
||
|
Total Liabilities |
90,953 |
59,417 |
|
Total Assets |
188,527 |
154,548 |
|
Net Assets |
150,676 |
95,131 |
|
Net Assets Backing |
97,574 |
95,131 |
|
Shareholders' Funds |
97,574 |
95,131 |
|
Total Share Capital |
100,000 |
100,000 |
|
Total Reserves |
(2,426) |
(4,869) |
|
LIQUIDITY (Times) |
||
|
Current Ratio |
2.86 |
2.52 |
|
SOLVENCY RATIOS (Times) |
||
|
Liabilities Ratio |
0.93 |
0.62 |
|
Assets Backing Ratio |
1.51 |
0.95 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
1.54 |
(0.59) |
|
Net Profit Margin |
0.63 |
(0.59) |
|
Return On Net Assets |
3.97 |
(5.12) |
|
Return On Capital Employed |
3.97 |
(5.12) |
|
Return On Shareholders' Funds/Equity |
2.50 |
(5.12) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.