|
Report No. : |
319152 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEGI VALUE HOLDINGS SDN. BHD. |
|
|
|
|
Registered Office : |
Block 8-16-1, Jalan Jalil Perkasa 15, Arcade Esplanad, Taman Bukit
Jalil, 57000 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.01.2010 |
|
|
|
|
Com. Reg. No.: |
885726-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in activities of investment holding |
|
|
|
|
No. of Employee : |
700 [2015] |
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
885726-W |
||||
|
COMPANY NAME |
: |
SEGI VALUE HOLDINGS SDN. BHD. |
||||
|
FORMER NAME |
: |
VALUE-BIZ HOLDINGS SDN. BHD. (30/03/2011) |
||||
|
INCORPORATION DATE |
: |
11/01/2010 |
||||
|
COMPANY STATUS |
: |
CLEAR |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
BLOCK 8-16-1, JALAN JALIL PERKASA 15, ARCADE ESPLANAD, TAMAN BUKIT
JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
UNIT 711, 712 & 713, BLOCK A KELANA BUSINESS CENTRE, 97 JALAN SS7/2
KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-78052699 |
||||
|
FAX.NO. |
: |
03-78042699 |
||||
|
CONTACT PERSON |
: |
CHUI AH HOCK ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
64200 |
||||
|
PRINCIPAL ACTIVITY |
: |
ACTIVITIES OF INVESTMENT HOLDING |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 15,104,454.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 320,837,865 [2013] |
||||
|
NET WORTH |
: |
MYR 30,765,040 [2013] |
||||
|
STAFF STRENGTH |
: |
700 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
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) activities of investment holding.
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 25,000,000.00 |
MYR 15,104,454.00 |
|
11/01/2010 |
MYR 100,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. CHUI AH HOCK + |
60, JALAN SJ4, TAMAN SELAYANG JAYA, 68100 BATU CAVES, SELANGOR,
MALAYSIA. |
680609-10-6991 |
5,653,319.00 |
37.43 |
|
CHEN WEIHUA |
60, JALAN SJ 4, TAMAN SELAYANG JAYA, 68100 BATU CAVES, SELANGOR,
MALAYSIA. |
G14386600 |
4,176,209.00 |
27.65 |
|
MR. CHIA AH HOO + |
133, JALAN JAMBU BERASA, JINJANG SELATAN, 52000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
590102-10-7355
5680716 |
3,248,546.00 |
21.51 |
|
PROSPER TEAM SDN. BHD. |
UNIT 711, 712 & 713, BLOCK A, KELANA BUSINESS CENTRE, 97, JALAN
SS7/2, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
890932V |
1,176,319.00 |
7.79 |
|
MR. CHIA AH KEONG + |
178, JALAN DEDAP BATIK, SIERRAMAS, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
721005-10-5179
A2320596 |
404,081.00 |
2.68 |
|
MS. CHIN LAN YIN |
25, JALAN DAUN INAI 5, SUNWAY SPK DAMANSARA, 52200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
690331-10-6194 |
445,980.00 |
2.95 |
|
--------------- |
------ |
|||
|
15,104,454.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
317041W |
MALAYSIA |
SEGI CASH & CARRY SDN. BHD. |
100.00 |
26/11/2014 |
|
422944D |
MALAYSIA |
FARM FRESH AGRICULTURE SDN. BHD. |
100.00 |
24/12/2014 |
|
882598K |
MALAYSIA |
SEGI REALTY SDN. BHD. |
100.00 |
26/11/2014 |
|
879672V |
MALAYSIA |
S-OCEAN SDN. BHD. |
80.00 |
26/11/2014 |
|
960419H |
MALAYSIA |
SEGI LOGISTICS SDN. BHD. |
80.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. TAN HON YIK |
|
Address |
: |
1, JALAN USJ 17/7A, 47630 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
New IC No |
: |
811103-10-5913 |
|
Date of Birth |
: |
03/11/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/09/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SYED HAIZAM HISHAMUDDIN PUTRA JAMALULLAIL |
|
Address |
: |
34, JALAN TENGKU AMPUAN, TAMAN DUTA, 50480 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
830518-14-5363 |
|
Date of Birth |
: |
18/05/1983 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/12/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. CHIA AH KEONG |
|
Address |
: |
178, JALAN DEDAP BATIK, SIERRAMAS, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A2320596 |
|
New IC No |
: |
721005-10-5179 |
|
Date of Birth |
: |
05/10/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. CHIA AH HOO |
|
Address |
: |
133, JALAN JAMBU BERASA, JINJANG SELATAN, 52000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5680716 |
|
New IC No |
: |
590102-10-7355 |
|
Date of Birth |
: |
02/01/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2010 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. CHUI AH HOCK |
|
Address |
: |
60, JALAN SJ4, TAMAN SELAYANG JAYA, 68100 BATU CAVES, SELANGOR,
MALAYSIA. |
|
New IC No |
: |
680609-10-6991 |
|
Date of Birth |
: |
09/06/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHUI AH HOCK |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
MICHAEL NG & ASSOCIATES. |
|
Auditor' Address |
: |
BLOCK 8-16-G, JALAN JALIL PERKASA 15, ARCADE ESPLANAD TAMAN BUKIT
JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
DR NG CHEE LOONG |
|
New IC No |
: |
690611-10-5823 |
|
|
Address |
: |
66, JALAN HUJAN EMAS 5, OVERSEAS UNION GARDEN, 58200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, 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 is a service provider.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
OPERATIONS
|
|
Services |
: |
ACTIVITIES OF INVESTMENT HOLDING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
700 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) activities of
investment holding.
The Subject is engaged in activities of investment holding.
The Subject refused to disclose further information on its business operation.
CURRENT
INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0378052699 |
|
Current Telephone Number |
: |
03-78052699 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
UNIT 710, BLOCK A, KELANA BUSINESS CENTRE, 97, JALAN SS7/2, KELANA
JAYA 47301 PETALING JAYA SELANGOR MALAYSIA |
|
Current Address |
: |
UNIT 711, 712 & 713, BLOCK A KELANA BUSINESS CENTRE, 97 JALAN
SS7/2 KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 23rd April 2015, we contacted one of the staff from the Subject and she only
provided limited information on the Subject.
The unit number provided is incorrect.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.83% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.46% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. The unfavourable return on
shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
7 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.39 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.80 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or injection
of fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.10 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.99 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. The Subject's gearing was slightly high. The Subject is utilising
the leverage concept to fund its expansion. However, the high gearing has
added financial risks to the Subject. It will be more vulnerable in times of
economy downturn. |
||||||
|
Overall Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. Due to
its weak liquidity position, the Subject will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. If there is a fall in the
Subject's profit or any increase in interest rate, the Subject may not be
able to generate sufficient cash-flow to service its interest. The Subject's
gearing was slightly high and its financial risk was also high. If no plans
are made to reduce its gearing, the Subject's performance may deteriorate in
the coming year. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
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 |
- |
- |
- |
- |
|
MSIC CODE |
|
|
64200 : Activities of investment holding companies |
|
|
INDUSTRY : |
ECONOMY |
|
In 2014, the economy is projected to grow 5.5% - 6% (2013: 4.7%),
which is higher than the initial forecast of 4.5% - 5.5% in early 2014.
Growth was supported by resilient domestic demand and reinforced by higher exports.
The faster pace of recovery, particularly in the US, UK and selected euro
area economies as well as moderate growth in the emerging economies provided
strong support to the Malaysian export oriented industries and trade-related
services. Consequently, gross exports rebounded strongly by 10.7% during the
first seven months of 2014 from a contraction of 2.8% in the corresponding
period in 2013. Furthermore, the economy growth of Malaysia in 2015 is
expected to be 5%-6% driven by improving external demand, resilient domestic
economic activity, and government infra- structure projects. The spillover
and multiplier effect from government spending is crucial for economic growth
in the country. The government also aims to boost the economy by increasing job
opportunities and drive supporting industries. |
|
|
Meanwhile, the Malaysian economy has benefited from several
initiatives and reforms taken over the years to enhance its resilience and
competitiveness. The nation's strengths include: strong macroeconomic
fundamentals such as a diversified economy, low unemployment, strong
international reserves, growing role of the private sector, and a healthy
financial system to support economic activity. |
|
|
On the demand side, growth will be reinforced by resilient consumer
spending, strong private investment activity and improving global demand. The
domestic demand is expected to expand in 2015 at a moderate pace, underpinned
by higher investment and sustained consumption spending. Private investment
is expected to remain strong supported by increasing domestic activity, a
favorable external sector, and ongoing projects under the Economic
Transformation Programme (ETP). Private consumption is, however, expected to
moderate below its long-term average, but will continue to support growth.
Household spending is expected to moderate amid higher inflation following
the implementation of GST. Nonetheless, the impact of higher inflation on
consumption is expected to be temporary and will eventually taper off after a
few months of the GST implementation. |
|
|
On the supply side, all economic sectors are expected to record
positive in 2015, with the services and manufacturing sectors remaining the major
contribution to growth. The service sector is projected to grow by 5.6% with
all subsectors recording expansion such as wholesale trade, transport and
storage, retail trade as well as accommodation and restaurants. The
manufacturing sector is expected to grow 5.5% boosted by strong domestic and
export-oriented industries. Meanwhile, the export-oriented industries,
particularly the E&E subsector will benefit from the improvement in
external conditions in line with improving global growth. The agriculture
sector is expected to grow 3.1% by recording higher commodity production and
increase output of food commodities, while the construction sector is
expected to grow 10.7% driven by robust activity in the civil engineering
projects in the O&G sector, residential and non-residential buildings.
The mining sector is expected to grow 2.8% backed by the increase in
production of natural gas and crude oil following capacity enhancement and
new production facilities. |
|
|
Moreover, in 2014, boosted by strong external demand for manufactured
products and stable commodity prices, exports are expected to grow 6%. Import
growth will remain resilient at 4.3% supported by continued expansion in
manufacturing, investment and consumption activities. Meanwhile, higher remittances
by foreign workers in Malaysia will see a marginally higher deficit in the
secondary income account due to the full implementation of the Minimum Wage
Policy effective from January 2014. Furthermore, Malaysia's external position
is expected to remain strong in 2015 with improve prospects for external
environment, upturn in global semiconductor sales, as well as resilient
domestic and regional demand. Gross exports are expected to increase 3.2%
spurred by higher demand for manufactured products, in particular E&E,
and steady demand for commodities. Gross import are, however, projected to
grow at a faster pace of 5.3% boosted by higher demand for intermediate
inputs and broad-based capital spending, particularly in the manufacturing
and services sectors as well as ongoing implementation of infrastructure
projects. Higher investment activity across major sectors by the
Non-Financial Public Enterprises (NFPEs) is also expected to contribute to
import growth. |
|
|
In 2015, inflation is expected to increase 4-5%, largely due to the
implementation of Goods and Services Tax (GST), spillover effect of fuel
subsidy reduction, and electricity tariff hike in January 2014. This
inflation expectation further heightens the possibility of more Overnight
Policy Rate (OPR) hikes, following the 25 basis points hike in July 2014.
Given the subdued external cost pressure, domestic cost remains the major
factor that drives inflation in 2015. The implementation of the GST will have
a transitory impact on the cost of goods and services. However, the strong
capacity expansion over the past years will help to mitigate the cost
pressures, while a more cautious stance of consumers would also contribute to
moderating demand and hence prevent inflation from becoming more entrenched. |
|
|
On the other hand, Gross National Income (GNI) in 2015 is expected to
expand further by 9.4% (2014: 10.2%) following continued growth in the
domestic economy. With total consumption spending in nominal terms expected
to increase 9.2%, the Gross National Savings (GNS) is projected to expand
9.8% (2014: 14.5%). Consequently, the share of GNS and GNI is expected to
increase to 32.5% (2014: 32.4%). However, in line with the better economic
growth, national income as measured by the nominal GNI, is estimated to
expand 10.2% to RM1,049.5 billion in 2014, surpassing for the first time, the
RM1-trillion mark. Other than that, nominal GNI per capita is expected to
increase 8.1% to RM37,486 in 2015 (2014: 8.9%, RM34,682). In terms of
Purchasing Power Parity (PPP), per capital income is expected to increase
2.4% to USD 23,512 in 2015 (2014: 2.2%, USD 22,958). |
|
|
Under budget 2015, the government targets to bring down the budget
deficit to -3% of GDP by 2015. The initiations of subsidy rationalization and
Goods and Services Tax (GST) in April 2015 are crucial steps towards fiscal
consolidation. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
SEGI VALUE
HOLDINGS SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
320,837,865 |
290,766,740 |
283,139,342 |
268,754,858 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
320,837,865 |
290,766,740 |
283,139,342 |
268,754,858 |
|
Costs of Goods Sold |
(274,271,476) |
(251,851,028) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
46,566,389 |
38,915,712 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,429,931 |
(2,962,828) |
(146,209) |
2,269,948 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,429,931 |
(2,962,828) |
(146,209) |
2,269,948 |
|
Taxation |
(937,524) |
(521,000) |
(3,659,789) |
(1,627,719) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,492,407 |
(3,483,828) |
(3,805,998) |
642,229 |
|
Minority interests |
(82,493) |
(9,206) |
(82,639) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
2,409,914 |
(3,493,034) |
(3,888,637) |
642,229 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
2,409,914 |
(3,493,034) |
(3,888,637) |
642,229 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
(11,804,106) |
(8,311,072) |
(4,422,435) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(11,804,106) |
(8,311,072) |
(4,422,435) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(9,394,192) |
(11,804,106) |
(8,311,072) |
642,229 |
|
TRANSFER TO RESERVES - General |
- |
- |
- |
(2,842,485) |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(2,222,179) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(9,394,192) |
(11,804,106) |
(8,311,072) |
(4,422,435) |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Bank overdraft |
384,592 |
275,896 |
- |
- |
|
Hire purchase |
181,213 |
54,378 |
- |
- |
|
Revolving loans |
134,459 |
177,496 |
- |
- |
|
Term loan / Borrowing |
503,012 |
495,399 |
- |
- |
|
Others |
1,926,628 |
1,798,997 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,129,904 |
2,802,166 |
- |
- |
|
|
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
3,122,197 |
2,085,871 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,122,197 |
2,085,871 |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
SEGI VALUE
HOLDINGS SDN. BHD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
23,001,034 |
17,062,641 |
10,764,307 |
9,070,505 |
|
Investment properties |
33,455,145 |
30,950,439 |
- |
- |
|
Others |
- |
758,530 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
33,455,145 |
31,708,969 |
8,384,618 |
7,334,618 |
|
INTANGIBLE ASSETS |
||||
|
Deferred/Expenditure carried forward |
109,490 |
118,614 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
109,490 |
118,614 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
56,565,669 |
48,890,224 |
19,148,925 |
16,405,123 |
|
Stocks |
22,925,163 |
21,371,897 |
- |
- |
|
Trade debtors |
6,498,419 |
13,003,797 |
- |
- |
|
Other debtors, deposits & prepayments |
2,916,182 |
3,728,315 |
- |
- |
|
Short term deposits |
8,943,467 |
7,864,165 |
- |
- |
|
Cash & bank balances |
3,248,594 |
5,842,733 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
44,531,825 |
51,810,907 |
55,734,187 |
50,809,362 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
101,097,494 |
100,701,131 |
74,883,112 |
67,214,485 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
13,918,120 |
25,068,492 |
- |
- |
|
Other creditors & accruals |
9,869,403 |
8,880,803 |
- |
- |
|
Hire purchase & lease creditors |
2,047,753 |
542,263 |
- |
- |
|
Bank overdraft |
8,083,684 |
3,519,156 |
- |
- |
|
Short term borrowings/Term loans |
648,600 |
4,457,015 |
- |
- |
|
Bill & acceptances payable |
14,566,059 |
16,974,162 |
- |
- |
|
Provision for taxation |
488,769 |
134,151 |
- |
- |
|
Other liabilities |
6,110,600 |
7,952,876 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
55,732,988 |
67,528,918 |
56,861,642 |
46,881,614 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(11,201,163) |
(15,718,011) |
(1,127,455) |
3,927,748 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
45,364,506 |
33,172,213 |
18,021,470 |
20,332,871 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
15,104,454 |
15,104,454 |
15,104,454 |
15,104,454 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
15,104,454 |
15,104,454 |
15,104,454 |
15,104,454 |
|
Capital reserve |
3,396,483 |
3,396,483 |
- |
- |
|
Revaluation reserve |
5,042,164 |
5,042,164 |
- |
- |
|
Retained profit/(loss) carried forward |
(9,394,192) |
(11,804,106) |
(8,311,072) |
(4,422,435) |
|
Others |
16,508,645 |
15,758,645 |
6,558,947 |
4,058,947 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
15,553,100 |
12,393,186 |
(1,752,125) |
(363,488) |
|
MINORITY INTEREST |
107,486 |
24,993 |
15,785 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
30,765,040 |
27,522,633 |
13,368,114 |
14,740,966 |
|
Long term loans |
3,854,901 |
4,418,470 |
- |
- |
|
Hire purchase creditors |
1,098,208 |
880,110 |
- |
- |
|
Deferred taxation |
284,800 |
351,000 |
- |
- |
|
Others |
9,361,557 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
14,599,466 |
5,649,580 |
4,653,356 |
5,591,905 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
45,364,506 |
33,172,213 |
18,021,470 |
20,332,871 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
SEGI VALUE
HOLDINGS SDN. BHD. |
|
TYPES OF FUNDS |
||||
|
Cash |
12,192,061 |
13,706,898 |
- |
- |
|
Net Liquid Funds |
(10,457,682) |
(6,786,420) |
- |
- |
|
Net Liquid Assets |
(34,126,326) |
(37,089,908) |
(1,127,455) |
3,927,748 |
|
Net Current Assets/(Liabilities) |
(11,201,163) |
(15,718,011) |
(1,127,455) |
3,927,748 |
|
Net Tangible Assets |
45,255,016 |
33,053,599 |
18,021,470 |
20,332,871 |
|
Net Monetary Assets |
(48,725,792) |
(42,739,488) |
(5,780,811) |
(1,664,157) |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
6,559,835 |
(160,662) |
- |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
9,682,032 |
1,925,209 |
- |
- |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
30,433,664 |
30,968,672 |
- |
- |
|
Total Liabilities |
70,332,454 |
73,178,498 |
61,514,998 |
52,473,519 |
|
Total Assets |
101,097,494 |
100,701,131 |
74,883,112 |
67,214,485 |
|
Net Assets |
45,364,506 |
33,172,213 |
18,021,470 |
20,332,871 |
|
Net Assets Backing |
30,765,040 |
27,522,633 |
13,368,114 |
14,740,966 |
|
Shareholders' Funds |
30,765,040 |
27,522,633 |
13,368,114 |
14,740,966 |
|
Total Share Capital |
15,104,454 |
15,104,454 |
15,104,454 |
15,104,454 |
|
Total Reserves |
15,553,100 |
12,393,186 |
(1,752,125) |
(363,488) |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.22 |
0.20 |
- |
- |
|
Liquid Ratio |
0.39 |
0.45 |
- |
- |
|
Current Ratio |
0.80 |
0.77 |
0.98 |
1.08 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
26 |
27 |
- |
- |
|
Debtors Ratio |
7 |
16 |
- |
- |
|
Creditors Ratio |
19 |
36 |
- |
- |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.99 |
1.13 |
- |
- |
|
Liabilities Ratio |
2.29 |
2.66 |
4.60 |
3.56 |
|
Times Interest Earned Ratio |
2.10 |
(0.06) |
- |
- |
|
Assets Backing Ratio |
3.00 |
2.19 |
1.19 |
1.35 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
1.07 |
(1.02) |
(0.05) |
0.84 |
|
Net Profit Margin |
0.75 |
(1.20) |
(1.37) |
0.24 |
|
Return On Net Assets |
14.46 |
(0.48) |
(0.81) |
11.16 |
|
Return On Capital Employed |
11.75 |
(0.43) |
(0.81) |
11.16 |
|
Return On Shareholders' Funds/Equity |
7.83 |
(12.69) |
(29.09) |
4.36 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
3.46 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves
as a reference to assess SC’s credit risk and to set the amount of credit to be
extended. It is calculated from a composite of weighted scores obtained from
each of the major sections of this report. The assessed factors and their
relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.