|
Report No. : |
317179 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVYAP SABUN MALAYSIA SDN. BHD. |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Level 18, 59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.05.2011 |
|
|
|
|
Com. Reg. No.: |
944963-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing and trading of all kinds of soap and personal care products. |
|
|
|
|
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. 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 |
|
REGISTRATION NO. |
: |
944963-M |
|
COMPANY NAME |
: |
EVYAP SABUN MALAYSIA SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
18/05/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY, LINGKARAN SYED PUTRA, LEVEL 18,
59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
POIC OFFICE, PLO 76, JALAN NIBONG 4, TANJUNG LANGSAT INDUSTRIAL
COMPLEX, 1ST FLOOR, 81700 PASIR GUDANG, JOHOR, MALAYSIA. |
|
TEL.NO. |
: |
07-2520999 |
|
FAX.NO. |
: |
07-2520777 |
|
CONTACT PERSON |
: |
WONG WAI FOONG ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
20231 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF ALL KINDS OF SOAP AND PERSONAL CARE
PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 100,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 77,113,366.00 DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
MYR 49,815,326 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
BANKER (S) |
|
HSBC BANK MALAYSIA BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
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) manufacturing and trading of all kinds of soap and personal care products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
30/06/2014 |
MYR 100,000,000.00 |
MYR 77,113,366.00 |
|
31/12/2011 |
MYR 100,000,000.00 |
MYR 21,806,786.00 |
|
15/11/2011 |
MYR 100,000,000.00 |
MYR 7,427,620.00 |
|
19/05/2011 |
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 |
(%) |
|
EVYAP SABUN YAG GLISERIN SANAYI VE TICARET AS |
AYAZAG A MAHALLESI, KAMERBURGAZ CADDESI, 1, SISLI, ISTAMBUL, TURKEY. |
XLZ104582 |
38,556,683.00 |
50.00 |
|
EVYAP HOLDING AS |
AYAZAG A MAHALLESI, KEMERBURGAZ CADDESI, 1, SISLI, ISTANBUL, TURKEY. |
XLZ166189 |
38,556,683.00 |
50.00 |
|
--------------- |
------ |
|||
|
77,113,366.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
GULDAL ATILLA |
|
Address |
: |
RESIT BELGSAY SOKAK, 6/17, CADDEBOSTON-KADIKOY, TURKEY. |
|
IC / PP No |
: |
TR-U557290 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MEHMED EVYAP |
|
Address |
: |
ACARLAR MAHALLESI ZARIF, SOKAK CUBUKLU VADI VILLALARI, 9,
CUBUKLU-BEYKOZ-KAVACIK, 34805, TURKEY. |
|
IC / PP No |
: |
U03040594 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. WONG WAI FOONG |
|
Address |
: |
1164, JALAN 17/64, HAPPY GARDEN, 46400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
New IC No |
: |
660510-10-6838 |
|
Date of Birth |
: |
10/05/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. ZEYNEP EVYAP |
|
Address |
: |
MIRGUN MAHALLESI, CAMFISTIGI SOKAK, 15, RESITPASA-ISTAMBUL, TURKEY. |
|
IC / PP No |
: |
U01814558 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 5
|
Name Of Subject |
: |
TANUJ ROY |
|
Address |
: |
3, RINTING HEIGHTS, JALAN KERUING 17, TAMAN RINTING, 81750 MASAI,
JOHOR, MALAYSIA. |
|
IC / PP No |
: |
Z2253291 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 6
|
Name Of Subject |
: |
OMER FETHI EVYAP |
|
Address |
: |
MIRGUN MAH. HAKKAK YUMNI SOK, 17. EMIRGAN-ISTANBUL, TURKEY. |
|
IC / PP No |
: |
TR-V155175 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 7
|
Name Of Subject |
: |
MEHMET SERTESER |
|
Address |
: |
ERENKOY, OMER PASA SOKAK, 24, CANDARLI APARTMENT KAT 2, DAIRE, 5,
KADIKOY, ISTANBUL, 34728, TURKEY. |
|
IC / PP No |
: |
U02830677 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 8
|
Name Of Subject |
: |
MEHMET FETHI EVYAP |
|
Address |
: |
MIRGUN MAH. HAKKAKYUMNI SOK, 17, EMIRGAN-ISTANBUL, TURKEY. |
|
IC / PP No |
: |
U03197881 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
DIRECTOR 9
|
Name Of Subject |
: |
ELIF EMINE EVYAP |
|
Address |
: |
MIRGUN MAH, HAKKAK YUMNI SOK, 17, EMIRGAN-ISTANBUL, TURKEY. |
|
IC / PP No |
: |
TR-V534901 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
07/06/2012 |
|
1) |
Name of Subject |
: |
WONG WAI FOONG |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
MENARA ANSAR, 65, JALAN TRUSL, LEVEL 14, 80000 JOHOR BAHRU, JOHOR,
MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. KUAN HUI FANG |
|
New IC No |
: |
710224-10-5204 |
|
|
Address |
: |
23, JALAN BU 3/2, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. CHONG LAY KIM |
|
New IC No |
: |
711218-08-5272 |
|
|
Address |
: |
2-2-10, PANGSAPURI SERI GALAKSI, NO. 1, JALAN NOVA U5/86, SEKSYEN U5,
SUBANG BESTARI, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
21/06/2012 |
FIRST PARTY
SECURITY OVER DEPOSIT |
HSBC BANK MALAYSIA BHD |
- |
Unsatisfied |
* 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.
* 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 |
: |
YES |
|
Overseas |
: |
YES |
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Products manufactured |
: |
|
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of all kinds of soap and personal care products.
The Subject produces wide range of soap, liquid care/wash, personal care,
cosmetics and hygiene care products.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-2520999 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
PLO 70 JALAN NIBONG 4 TANJUNG LANGSAT INDUSTRIAL ESTATE 817000 PASIR
GUDONG JOHOR DARUL TAKZIM |
|
Current Address |
: |
POIC OFFICE, PLO 76, JALAN NIBONG 4, TANJUNG LANGSAT INDUSTRIAL
COMPLEX, 1ST FLOOR, 81700 PASIR GUDANG, JOHOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 14th April 2015 we contacted one of the staff from the Subject and he
provided some information.
The address provided is as per stated in the report.
The Subject refused to disclose its number of employees.
The Subject refused to disclose its turnover.
|
The Subject's turnover was nil during the year indicate that it was inactive.
As a result, we are unable to comment on its financial performance. |
|
|
Overall financial condition of the Subject : N/A |
|
|
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
20231 : Manufacture of soap and detergents, cleaning and polishing preparations
|
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 |
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
|
Other Income |
480,000 |
137,416 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
480,000 |
137,416 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(16,005,924) |
(10,716,931) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(16,005,924) |
(10,716,931) |
- |
|
Taxation |
(157,796) |
(122,000) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(16,163,720) |
(10,838,931) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
(11,134,320) |
(295,389) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
(11,134,320) |
(295,389) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(27,298,040) |
(11,134,320) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(27,298,040) |
(11,134,320) |
(295,389) |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
211,731 |
1,920,025 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
211,731 |
1,920,025 |
- |
|
|
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
588,104 |
197,861 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
588,104 |
197,861 |
- |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
331,555,140 |
89,751,404 |
17,740 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
331,555,140 |
89,751,404 |
17,740 |
|
Other debtors, deposits & prepayments |
7,031,336 |
18,300,386 |
- |
|
Short term deposits |
24,315,000 |
215,873,687 |
- |
|
Amount due from related companies |
2,214,230 |
4,365,928 |
- |
|
Cash & bank balances |
18,933,874 |
1,943,547 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
52,494,440 |
240,483,548 |
21,554,423 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
384,049,580 |
330,234,952 |
21,572,163 |
|
============= |
============= |
============= |
|
|
Other creditors & accruals |
28,511,105 |
22,154,886 |
- |
|
Short term borrowings/Term loans |
7,745,636 |
- |
- |
|
Amounts owing to holding company |
2,779,384 |
339,185 |
- |
|
Amounts owing to related companies |
7,996,761 |
187,635 |
- |
|
Provision for taxation |
8,004 |
22,600 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
47,040,890 |
22,704,306 |
60,766 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
5,453,550 |
217,779,242 |
21,493,657 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
337,008,690 |
307,530,646 |
21,511,397 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
77,113,366 |
77,113,366 |
21,806,786 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
77,113,366 |
77,113,366 |
21,806,786 |
|
Retained profit/(loss) carried forward |
(27,298,040) |
(11,134,320) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(27,298,040) |
(11,134,320) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
49,815,326 |
65,979,046 |
21,511,397 |
|
Long term loans |
287,184,364 |
241,542,600 |
- |
|
Deferred taxation |
9,000 |
9,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
287,193,364 |
241,551,600 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
337,008,690 |
307,530,646 |
21,511,397 |
|
|
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||
|
Cash |
43,248,874 |
217,817,234 |
- |
|
Net Liquid Funds |
43,248,874 |
217,817,234 |
- |
|
Net Liquid Assets |
5,453,550 |
217,779,242 |
21,493,657 |
|
Net Current Assets/(Liabilities) |
5,453,550 |
217,779,242 |
21,493,657 |
|
Net Tangible Assets |
337,008,690 |
307,530,646 |
21,511,397 |
|
Net Monetary Assets |
(281,739,814) |
(23,772,358) |
21,493,657 |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
(15,794,193) |
(8,796,906) |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(15,206,089) |
(8,599,045) |
- |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
294,930,000 |
241,542,600 |
- |
|
Total Liabilities |
334,234,254 |
264,255,906 |
60,766 |
|
Total Assets |
384,049,580 |
330,234,952 |
21,572,163 |
|
Net Assets |
337,008,690 |
307,530,646 |
21,511,397 |
|
Net Assets Backing |
49,815,326 |
65,979,046 |
21,511,397 |
|
Shareholders' Funds |
49,815,326 |
65,979,046 |
21,511,397 |
|
Total Share Capital |
77,113,366 |
77,113,366 |
21,806,786 |
|
Total Reserves |
(27,298,040) |
(11,134,320) |
(295,389) |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.92 |
9.59 |
- |
|
Liquid Ratio |
1.12 |
10.59 |
- |
|
Current Ratio |
1.12 |
10.59 |
354.71 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
- |
|
Debtors Ratio |
0 |
0 |
- |
|
Creditors Ratio |
0 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
5.92 |
3.66 |
- |
|
Liabilities Ratio |
6.71 |
4.01 |
0.00 |
|
Times Interest Earned Ratio |
(74.60) |
(4.58) |
- |
|
Assets Backing Ratio |
4.37 |
3.99 |
0.99 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.00 |
0.00 |
- |
|
Net Profit Margin |
0.00 |
0.00 |
- |
|
Return On Net Assets |
(4.69) |
(2.86) |
- |
|
Return On Capital Employed |
(4.69) |
(2.86) |
- |
|
Return On Shareholders' Funds/Equity |
(32.45) |
(16.43) |
(1.37) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.