|
Report No. : |
319207 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SING LIAN AUTO |
|
|
|
|
Registered Office : |
Not Available |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
09.06.1997 |
|
|
|
|
Com. Reg. No.: |
001107303-D |
|
|
|
|
Legal Form : |
Partnership |
|
|
|
|
Line of Business : |
Subject is engaged in the dealing in new, reconditioned auto spare
parts, diesel engines & replacement parts. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Moderate |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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. |
: |
001107303-D |
|
COMPANY NAME |
: |
SING LIAN AUTO |
|
COMMENCEMENT DATE |
: |
09/06/1997 |
|
REGISTRATION DATE |
: |
09/06/1997 |
|
EXPIRY DATE |
: |
24/10/2017 |
|
BUSINESS CONSTITUTION |
: |
PARTNERSHIP |
|
BUSINESS ADDRESS |
: |
N/A |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
INDUSTRY CODE |
: |
45300 |
|
PRINCIPAL ACTIVITY |
: |
DEALING IN NEW, RECONDITIONED AUTO SPARE PARTS, DIESEL ENGINES &
REPLACEMENT PARTS |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY
/ BACKGROUND
|
The Subject commenced its business on 09/06/1997 as a PARTNERSHIP.
The Subject is a partnership firm registered under the Business
Registration Act. The partners liabilities are unlimited, that is, if the
partnership is not able to meet its obligations, the partners have to be
personally liable for the debts incurred. The Subject's ownership is
transferable with consent of the other partners. The Subject as a partnership
firm is governed by the Partnership Act. The Subject is not required to file in
its financial statements with the Registry of Business.
The Subject is principally engaged in the (as a / as an) dealing in new,
reconditioned auto spare parts, diesel engines & replacement parts.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The owner of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. TAN LIAN LAI |
GG13, TAMAN BAMBOO, JALAN IPOH, JALAN TEROLAK 9 , 51200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
440107-10-5291 7917796 |
50.00 |
50.00 |
|
MS. TAN GEOK BEE |
GG13, TAMAN BAMBOO, JALAN TEROLAK 9 , 51200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
810416-08-5218 |
50.00 |
50.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
OWNERS
|
OWNER(S) 1
|
Name Of Subject |
: |
MR. TAN LIAN LAI |
|
Address |
: |
GG13, TAMAN BAMBOO, JALAN IPOH, JALAN TEROLAK 9, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
7917796 |
|
New IC No |
: |
440107-10-5291 |
|
Date of Birth |
: |
07/01/1944 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/06/1997 |
|
Shareholding |
: |
50% |
OWNER(S) 2
|
Name Of Subject |
: |
MS. TAN GEOK BEE |
|
Address |
: |
GG13, TAMAN BAMBOO, JALAN TEROLAK 9, 51200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
810416-08-5218 |
|
Date of Birth |
: |
16/04/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/11/2012 |
|
Shareholding |
: |
50% |
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
No Auditor found in our databank
BANKING
|
No Banker found in our databank.
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.
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 |
We were unable to verify the Subject's payment record.
CLIENTELE
|
|
Local |
: |
N/A |
|||
|
Overseas |
: |
N/A |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
We were unable to verify the Subject's clientele.
OPERATIONS
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
5 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) dealing in new, reconditioned
auto spare parts, diesel engines & replacement parts.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
Q-7, JALAN TEROLAK 4 IPOH ROAD GARDEN OFF 4 MILE IPOH ROAD 51200
MALAYSIA |
|
Current Address |
: |
N/A |
|
Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject and its partners.
We are unable to verify the address provided.
We have found contact number at 0362591295 for the Subject. However, it is
invalid.
FINANCIAL
ANALYSIS
|
|
We are unable to comment on the Subject financial position as the
Subject is not required by the law to file its financial statement in the
Registrar of Business. |
||||||
|
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 |
|
|
45300 : Wholesale and retail sale of all kinds of parts, components,
supplies, tools and accessories for motor vehicles |
|
|
INDUSTRY : |
MOTOR VECHICLE |
|
The forecasted annual Total Industry Volume (TIV) in the year 2015 is
693,500 units, which is the forecasted increase of 2.0% compared to the
forecasted annual TIV of 680,000 units for year 2014. The forecasted TIV for
year 2014 is an estimated increase of 3.7% compared to the actual TIV of year
2013 (655,793 units). The factors that affected the forecasted TIV for year
2014 are the improving global economic conditions, investments in mega
projects related to Economic Transformation Projects (ETP), positive
consumer's sentiments, introduction of new models especially Energy Efficient
Vehicles (EEV), and aggressive promotional campaigns by car companies.
However, moderation in consumer's spending due to higher cost of living, and
more stringent lending practices including hire purchase loan also have an
effect in the forecasted TIV for year 2014. |
|
|
Besides that, the annual sales of passenger vehicles in the year 2015
are forecasted to be 610,300 units and it's an estimated increase of 2.0% compared
to the forecasted sales of passenger cars for year 2014. The forecasted
annual sales of passenger cars for year 2014 have an estimated increase by
3.8% to 598,400 units compared to 576,657 units at the year 2013. While
annual sales of commercial vehicles in year 2015 is forecasted to be 83,200
units, which is a forecasted increase 2.0% compared to the forecasted annual
sales of commercial car in year 2014. The forecasted annual sales of
commercial car in year 2014 were estimated to increase by 3.1% to 81,600
units compared to 79,136 units at the year 2013. |
|
|
Other than that, for the total registration of new passenger vehicles
in the first six months of year 2014, it reached 296,779 units compare with
275,991 units over the same period in year 2013. This had brought an increase
of 7.5% (20,788 units) of growth rate in the registration of passenger
vehicles. While the total registration for commercial vehicles in the first
six months of year 2014 were 36,363 units, which was a decrease of 3.0%. Besides,
the production of new vehicles also recorded an increase of 8.3% (24,381
units) over the first six months of year 2014. |
|
|
The National Automotive Policy 2014 envisions for Malaysia to be an
Energy Efficient Vehicles (EEV) hub in ASEAN including the production of
hybrids and electric vehicles (EV). This encompasses strategies and measures
to strengthen the entire value chain of the automotive industry. Thus, the
national car manufacturers, Proton and Perodua, lead in the industry's
response. Proton launched "Iriz" and believes the global standard
car will help to capture a larger share of the automotive market. Besides,
Perodua came up with the Axia model, which is Malaysia's first EEV and it
received similarly good response from consumers. |
|
|
Moreover, Auto industry players believe that the 2015 Budget will spur
manufacturing automation in their industry, due to the automation capital
allowance of up to 200 per cent on the expenditure incurred within a specific
period is a specialised incentive package, and will benefit manufacturers of
energy-efficient vehicles (EEVs), said by the CEO of Malaysian Automotive
Institute (MAI). |
|
|
The Goods and Services Tax (GST) that set at 6% will be implemented on
April 1, 2015, and the Sales and Services Tax (SST) of 10% will be abolished
on that same day. According to Malaysian Automotive Institute (MAI), the
implementation of the GST in 2015 should stimulate demand for vehicles with
the reduction of prices due to the abolishment of the SST. However, according
to Bernama, the gains could be offset by higher prices of imported auto parts
due to foreign exchange factors, even though prices for new cars are
generally expected to come down by between 1-3% after the implementation of
the Goods and Services Tax (GST). As auto components are mainly imported from
Japan, if the yen appreciates against the ringgit, the savings of 1-3% could
be much less because the components would now cost more and that would affect
retail car prices. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
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
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit
risk exists. Caution needed to be exercised |
Credit not recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.