|
Report No. : |
335105 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
OSMOSIS NUTRITION SDN. BHD. |
|
|
|
|
Registered Office : |
2-1, Jalan Sri Hartamas 8, Sri Hartamas, 50480 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.10.2002 |
|
|
|
|
Com. Reg. No.: |
594876-A |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Manufacturing and Distribution of Animal Feed and
Nutrition Products. |
|
|
|
|
No. of Employees : |
30 [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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 previously 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 strained government finances,
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 supplied about 29% of government
revenue in 2014. 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. |
: |
594876-A |
||||
|
COMPANY
NAME |
: |
OSMOSIS
NUTRITION SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
04/10/2002 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
2-1,
JALAN SRI HARTAMAS 8, SRI HARTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
LOT
16014 (PT 24341), JALAN NILAM 3, BANDAR NILAI UTAMA (NILAI 3), NILAI UTAMA
ENTERPRISE PARK, 71800 NILAI, NEGERI SEMBILAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
06-7999090 |
||||
|
FAX.NO. |
: |
06-7997070 |
||||
|
EMAIL |
: |
INFO@PETERLABS.COM.MY |
||||
|
WEB
SITE |
: |
WWW.PETERLABS.COM.MY |
||||
|
CONTACT
PERSON |
: |
LIM
TONG SENG ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
10800
|
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
AND DISTRIBUTION OF ANIMAL FEED AND NUTRITION PRODUCTS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
1,500,002.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
18,200,934 [2013] |
||||
|
NET
WORTH |
: |
MYR
5,293,760 [2013] |
||||
|
STAFF
STRENGTH |
: |
30
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
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) manufacturing and
distribution of animal feed and nutrition products.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The
immediate holding company of the Subject is PLON SYNERGY GROUP SDN. BHD., a
company incorporated in MALAYSIA.
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
15/02/2013 |
MYR
5,000,000.00 |
MYR
1,500,002.00 |
|
18/12/2002 |
MYR
1,000,000.00 |
MYR
500,002.00 |
|
04/10/2002 |
MYR
1,000,000.00 |
MYR
2.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
PLON
SYNERGY GROUP SDN. BHD. |
16014
(PT 24341), JALAN NILAM 3, BANDAR NILAI UTAMA, 71800 NILAI, NEGERI SEMBILAN,
MALAYSIA. |
598746V |
1,500,002.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,500,002.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
TEO KOOI CHENG |
|
Address |
: |
18,
JALAN BK 6B/2, BANDAR KINRARA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
5710011 |
|
New
IC No |
: |
590905-01-5577 |
|
Date
of Birth |
: |
05/09/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
26/09/2008 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
TEO CHIN HENG |
|
Address |
: |
2,
JALAN BIRAI U8/71, BUKIT JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
4377126 |
|
New
IC No |
: |
530123-04-5451 |
|
Date
of Birth |
: |
23/01/1953 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
15/10/2002 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
LIM TONG SENG |
|
Address |
: |
2,
JALAN BSJ 5, TAMAN BUKIT SEGAR JAYA 2, 43200 BALAKONG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
5806219 |
|
New
IC No |
: |
591104-05-5397 |
|
Date
of Birth |
: |
04/11/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
04/10/2002 |
|
1)
|
Name
of Subject |
: |
LIM
TONG SENG |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
TAN
TIN & CO. |
|
Auditor'
Address |
: |
3.09,
PODIUM BLOCK PLAZA BERJAYA, 12, JALAN IMBI, TINGKAT 3, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MS.
WONG KEO ROU |
|
IC
/ PP No |
: |
A2132756 |
|
|
New
IC No |
: |
720330-01-5404 |
|
|
Address |
: |
36,
JALAN 20/5, PARAMOUNT GARDEN, 46300 PETALING JAYA, 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit
Term |
: |
30
- 60 DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
|||||
|
Competitor(s) |
: |
DINDINGS
SOYA & MULTIFEEDS SDN BHD |
|||||
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
30 |
25 |
25 |
25 |
25 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
distribution of animal feed and nutrition products.
The Subject produces varieties of animal health products, animal nutritional
feed additive and veterinary pharmaceutical products to serve the livestock
industry.
We were informed that the Subject has research and development team to
formulate nutrition feed additive and established the technical cooperation
with oversea expert in order to develop a new balance diet for the livestock,
and thus enhancing the output of the farm productivity.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
067999090 |
|
Current
Telephone Number |
: |
06-7999090 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
LOT
1614, JALAN NILAM 3, NILAI UTAMA ENTERPRISE PARK, BANDAR NILAI UTAMA, 71800
NILAI, NEGERI SEMBILAN, DK MALAYSIA. |
|
Current
Address |
: |
LOT
16014 (PT 24341), JALAN NILAM 3, BANDAR NILAI UTAMA (NILAI 3), NILAI UTAMA
ENTERPRISE PARK, 71800 NILAI, NEGERI SEMBILAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided also can be used for the Subject.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2009
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(13.35%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(5.25%) |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the
Subject's products / services.The Subject incurred losses during the year due
to the inefficient control of its operating costs. The Subject's unfavourable
returns on shareholders' funds indicate the management's inefficiency in
utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
36
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
1
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
22
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 |
[ |
0.17
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.54
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 |
[ |
(2.06
Times) |
] |
|
|
Gearing
Ratio |
: |
Acceptable |
[ |
0.95
Times |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject may
be vulnerable to default in servicing the interest. 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
Subject's losses could be attributed to the lower turnover which in turn could
be the result of unfavourable market conditions. 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. The Subject's interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. 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 |
3.2 |
4.0 |
|
Unemployment
Rate |
3.3 |
3.2 |
3.0 |
2.9 |
3.0 |
|
Net
International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
4.00 |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
6.85 |
- |
|
Business
Loans Disbursed( % ) |
15.3 |
32.2 |
- |
56.0 |
- |
|
Foreign
Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
43,486.6 |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
49,144 |
- |
|
Registration
of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
6.1 |
- |
|
Liquidation
of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
21,753 |
- |
|
Liquidation
of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
(17.7) |
- |
|
Registration
of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
332,723 |
- |
|
Registration
of New Business ( % ) |
5.0 |
14.0 |
2.0 |
1.0 |
- |
|
Business
Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
21,436 |
- |
|
Business
Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
18.0 |
- |
|
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 |
63.2 |
- |
|
Credit
Cards Spending ( % ) |
15.6 |
12.6 |
- |
13.5 |
- |
|
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) |
- |
- |
3.0 |
- |
|
Other
Mining |
- |
- |
- |
46.6 |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
%
of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing
# |
4.7 |
4.8 |
3.4 |
6.4 |
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 |
1.4 |
- |
|
Plastic
Products |
3.8 |
- |
- |
2.7 |
- |
|
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 |
- |
- |
13.0 |
- |
|
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 |
|
|
10800
: Manufacture of prepared animal feeds |
|
|
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 |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
OSMOSIS
NUTRITION SDN. BHD. |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
18,200,934 |
18,643,053 |
19,418,632 |
16,938,643 |
15,448,023 |
|
Other
Income |
27,534 |
110,480 |
2,100 |
301,747 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
18,228,468 |
18,753,533 |
19,420,732 |
17,240,390 |
15,448,023 |
|
Costs
of Goods Sold |
(17,410,835) |
(17,529,916) |
(17,265,719) |
(13,300,228) |
(11,873,322) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
817,633 |
1,223,617 |
2,155,013 |
3,940,162 |
3,574,701 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(645,448) |
41,152 |
957,612 |
2,900,864 |
2,752,291 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(645,448) |
41,152 |
957,612 |
2,900,864 |
2,752,291 |
|
Taxation |
(61,091) |
926,600 |
(246,276) |
(739,924) |
(695,951) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(706,539) |
967,752 |
711,336 |
2,160,940 |
2,056,340 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
603,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
603,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
3,793,758 |
4,500,297 |
3,532,545 |
4,821,209 |
2,660,269 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
- |
- |
(2,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
3,793,758 |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
10 |
29 |
16,372 |
11,724 |
11,307 |
|
Bankers'
acceptance |
47,560 |
48,328 |
84,216 |
33,827 |
683 |
|
Hire
purchase |
- |
- |
- |
1,756 |
1,913 |
|
Lease
interest |
3,835 |
1,873 |
2,126 |
- |
- |
|
Term
loan / Borrowing |
159,212 |
150,986 |
162,978 |
- |
24,857 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
210,617 |
201,216 |
265,692 |
47,307 |
38,760 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
741,508 |
708,657 |
468,613 |
99,387 |
81,097 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
741,508 |
708,657 |
468,613 |
99,387 |
81,097 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
OSMOSIS
NUTRITION SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
9,973,853 |
10,679,161 |
11,085,839 |
10,956,363 |
3,878,508 |
|
Deferred
assets |
515,000 |
576,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
515,000 |
576,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
10,488,853 |
11,255,161 |
11,085,839 |
10,956,363 |
3,878,508 |
|
Stocks |
1,775,181 |
2,029,656 |
1,939,516 |
1,229,736 |
652,995 |
|
Trade
debtors |
32,114 |
126,890 |
79,693 |
648,166 |
433,953 |
|
Other
debtors, deposits & prepayments |
144,845 |
40,889 |
47,610 |
74,665 |
255,720 |
|
Amount
due from related companies |
420,801 |
233,426 |
263,374 |
18,735 |
3,824,620 |
|
Cash
& bank balances |
207,342 |
165,022 |
7,696 |
337,318 |
109,515 |
|
Others |
458 |
421,832 |
349,874 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
2,580,741 |
3,017,715 |
2,687,763 |
2,308,620 |
5,276,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
13,069,594 |
14,272,876 |
13,773,602 |
13,264,983 |
9,155,311 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
1,064,203 |
562,644 |
1,062,954 |
1,872,500 |
1,035,375 |
|
Other
creditors & accruals |
352,936 |
737,044 |
645,478 |
1,172,080 |
24,650 |
|
Hire
purchase & lease creditors |
26,018 |
22,820 |
8,179 |
7,642 |
20,336 |
|
Bank
overdraft |
- |
- |
165,775 |
992,071 |
826,896 |
|
Short
term borrowings/Term loans |
- |
- |
502,617 |
1,297,367 |
- |
|
Other
borrowings |
2,013,167 |
1,308,859 |
- |
- |
- |
|
Bill
& acceptances payable |
- |
- |
2,201,000 |
- |
- |
|
Amounts
owing to holding company |
- |
- |
- |
306,919 |
868,919 |
|
Amounts
owing to related companies |
1,328,080 |
2,778,176 |
458,140 |
35,534 |
- |
|
Provision
for taxation |
- |
- |
- |
147,195 |
152,190 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
4,784,404 |
5,409,543 |
5,044,143 |
5,831,308 |
2,928,366 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(2,203,663) |
(2,391,828) |
(2,356,380) |
(3,522,688) |
2,348,437 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
8,285,190 |
8,863,333 |
8,729,459 |
7,433,675 |
6,226,945 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
|
Retained
profit/(loss) carried forward |
3,793,758 |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
3,793,758 |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
5,293,760 |
6,000,299 |
5,032,547 |
4,321,211 |
4,160,271 |
|
Long
term loans |
- |
- |
3,324,343 |
3,050,316 |
2,035,598 |
|
Other
long term borrowings |
2,971,076 |
2,815,137 |
- |
- |
- |
|
Lease
obligations |
20,354 |
47,897 |
21,969 |
- |
- |
|
Hire
purchase creditors |
- |
- |
- |
30,148 |
- |
|
Deferred
taxation |
- |
- |
350,600 |
32,000 |
31,076 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
2,991,430 |
2,863,034 |
3,696,912 |
3,112,464 |
2,066,674 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,285,190 |
8,863,333 |
8,729,459 |
7,433,675 |
6,226,945 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
OSMOSIS
NUTRITION SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
207,342 |
165,022 |
7,696 |
337,318 |
109,515 |
|
Net
Liquid Funds |
207,342 |
165,022 |
(2,359,079) |
(654,753) |
(717,381) |
|
Net
Liquid Assets |
(3,978,844) |
(4,421,484) |
(4,295,896) |
(4,752,424) |
1,695,442 |
|
Net
Current Assets/(Liabilities) |
(2,203,663) |
(2,391,828) |
(2,356,380) |
(3,522,688) |
2,348,437 |
|
Net
Tangible Assets |
8,285,190 |
8,863,333 |
8,729,459 |
7,433,675 |
6,226,945 |
|
Net
Monetary Assets |
(6,970,274) |
(7,284,518) |
(7,992,808) |
(7,864,888) |
(371,232) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(434,831) |
242,368 |
1,223,304 |
2,948,171 |
2,791,051 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
306,677 |
951,025 |
1,691,917 |
3,047,558 |
2,872,148 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
5,030,615 |
4,194,713 |
6,223,883 |
5,377,544 |
2,882,830 |
|
Total
Liabilities |
7,775,834 |
8,272,577 |
8,741,055 |
8,943,772 |
4,995,040 |
|
Total
Assets |
13,069,594 |
14,272,876 |
13,773,602 |
13,264,983 |
9,155,311 |
|
Net
Assets |
8,285,190 |
8,863,333 |
8,729,459 |
7,433,675 |
6,226,945 |
|
Net
Assets Backing |
5,293,760 |
6,000,299 |
5,032,547 |
4,321,211 |
4,160,271 |
|
Shareholders'
Funds |
5,293,760 |
6,000,299 |
5,032,547 |
4,321,211 |
4,160,271 |
|
Total
Share Capital |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
1,500,002 |
|
Total
Reserves |
3,793,758 |
4,500,297 |
3,532,545 |
2,821,209 |
2,660,269 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.04 |
0.03 |
0 |
0.06 |
0.04 |
|
Liquid
Ratio |
0.17 |
0.18 |
0.15 |
0.19 |
1.58 |
|
Current
Ratio |
0.54 |
0.56 |
0.53 |
0.40 |
1.80 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
36 |
40 |
36 |
26 |
15 |
|
Debtors
Ratio |
1 |
2 |
1 |
14 |
10 |
|
Creditors
Ratio |
22 |
12 |
22 |
51 |
32 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.95 |
0.70 |
1.24 |
1.24 |
0.69 |
|
Liabilities
Ratio |
1.47 |
1.38 |
1.74 |
2.07 |
1.20 |
|
Times
Interest Earned Ratio |
(2.06) |
1.20 |
4.60 |
62.32 |
72.01 |
|
Assets
Backing Ratio |
5.52 |
5.91 |
5.82 |
4.96 |
4.15 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(3.55) |
0.22 |
4.93 |
17.13 |
17.82 |
|
Net
Profit Margin |
(3.88) |
5.19 |
3.66 |
12.76 |
13.31 |
|
Return
On Net Assets |
(5.25) |
2.73 |
14.01 |
39.66 |
44.82 |
|
Return
On Capital Employed |
(5.23) |
2.73 |
13.74 |
34.96 |
39.45 |
|
Return
On Shareholders' Funds/Equity |
(13.35) |
16.13 |
14.13 |
50.01 |
49.43 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0.93 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.