|
Report No. : |
335751 |
|
Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAREX INDUSTRIES SDN. BHD |
|
|
|
|
Formerly Known As : |
BANRUB SDN BHD |
|
|
|
|
Registered Office : |
31-04, Menara Landmark, 12 Jalan Ngee Heng, Level 31, 80000 Johor Bahru, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
04.05.1988 |
|
|
|
|
Com. Reg. No.: |
170363-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing and Sale of Condoms. |
|
|
|
|
No. of Employees : |
800 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. |
: |
170363-X |
||||
|
COMPANY
NAME |
: |
KAREX
INDUSTRIES SDN. BHD. |
||||
|
FORMER
NAME |
: |
BANRUB
SDN BHD (05/02/1994) |
||||
|
INCORPORATION
DATE |
: |
04/05/1988 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
31-04,
MENARA LANDMARK, 12, JALAN NGEE HENG, LEVEL 31, 80000 JOHOR BAHRU, JOHOR,
MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
PTD
7906 & 7907, TAMAN PONTIAN JAYA, BATU 34, JALAN JOHOR, 82000 PONTIAN,
JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-6878833 |
||||
|
FAX.NO. |
: |
07-6862657 |
||||
|
EMAIL |
: |
KAREX@KAREX.COM.MY |
||||
|
WEB
SITE |
: |
WWW.KAREX.COM.MY |
||||
|
CONTACT
PERSON |
: |
GOH
SIANG ( CEO ) |
||||
|
INDUSTRY
CODE |
: |
22191
|
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
AND SALE OF CONDOMS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
2,500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
155,113,984 [2013] |
||||
|
NET
WORTH |
: |
MYR
73,440,629 [2013] |
||||
|
STAFF
STRENGTH |
: |
800
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
HIGH |
||||
|
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 sale of
condoms.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
09/09/2013 |
MYR
5,000,000.00 |
MYR
2,500,000.00 |
|
18/03/2000 |
MYR
5,000,000.00 |
MYR
1,800,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ALBERT
LAM YIU PANG |
CHUN
WO COMMERCIAL CENTRE, 23-29, WING WO STREET, CENTRAL, 13TH FLOOR, HONG KONG. |
T584363 |
256,000.00 |
10.24 |
|
MS.
GOH YIN + |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
480614-01-5772
0574348 |
256,000.00 |
10.24 |
|
LAM
JIUAN JIUAN |
CHUN
WO COMMERCIAL CENTRE, 23-29, WING WO STREET, CENTRAL, 13TH FLOOR, HONG KONG. |
N937313 |
256,000.00 |
10.24 |
|
MS.
GOH YEN YEN |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
431105-01-5204
0735796 |
256,000.00 |
10.24 |
|
MR.
GOH SIANG |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
500102-01-5133
3437401 |
256,000.00 |
10.24 |
|
MR.
GOH LENG KIAN + |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
550821-01-5397
4838400 |
256,000.00 |
10.24 |
|
MS.
GOH AI NOI |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
560821-01-6452
5012032 |
256,000.00 |
10.24 |
|
MR.
GOH MIAH KIAT |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
780120-07-5347 |
256,000.00 |
10.24 |
|
MR.
SHAARI BIN HARON |
19,
LORONG RAHIM KAJAI SATU, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
510517-03-5071
4230441 |
120,000.00 |
4.80 |
|
DATO'
MOHAMED SUHAIMI BIN SULAIMAN |
10,
JALAN 7A, KEMENSAH HEIGHTS, ULU KLANG, 68000 AMPANG, SELANGOR, MALAYSIA. |
600517-07-5697
5909080 |
113,000.00 |
4.52 |
|
MR.
HAMIDON BIN ABDULLAH |
94,
JALAN ATHINAHAPPAN 2, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
530129-01-6037 |
113,000.00 |
4.52 |
|
MR.
ABU TALIB BIN ABDUL RAHMAN |
3A,
JALAN 19/144A, TAMAN BUKIT CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
531231-07-5015 |
106,000.00 |
4.24 |
|
--------------- |
------ |
|||
|
2,500,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
(%) |
As
At |
|
472154X |
MALAYSIA |
URO
TECHNOLOGY SDN. BHD. |
60.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MS.
GOH YIN |
|
Address |
: |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
|
IC
/ PP No |
: |
0574348 |
|
New
IC No |
: |
480614-01-5772 |
|
Date
of Birth |
: |
14/06/1948 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
04/05/1988 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
GOH LENG KIAN |
|
Address |
: |
PTD
7906, TAMAN PONTIAN JAYA, 82000 PONTIAN, JOHOR, MALAYSIA. |
|
IC
/ PP No |
: |
4838400 |
|
New
IC No |
: |
550821-01-5397 |
|
Date
of Birth |
: |
21/08/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
15/05/2001 |
|
1)
|
Name
of Subject |
: |
GOH
SIANG |
|
Position |
: |
CEO |
|
|
2)
|
Name
of Subject |
: |
GOH
YIN |
|
Position |
: |
DIRECTOR |
|
|
3)
|
Name
of Subject |
: |
PATRICK
OOI |
|
Position |
: |
FINANCE
MANAGER |
AUDITOR
|
|
Auditor |
: |
KPMG |
|
Auditor'
Address |
: |
MENARA
ANSAR, 65, JALAN TRUS, LEVEL 14, 80000 JOHOR BAHRU, JOHOR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MS.
TEO MEE HUI |
|
IC
/ PP No |
: |
A3665139 |
|
|
New
IC No |
: |
770214-14-5856 |
|
|
Address |
: |
76,
JALAN BANGAU 7, BANDAR PUCHONG JAYA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
|
Remarks |
: |
CHARTERED
SECRETARY |
|
|
2)
|
Company
Secretary |
: |
MS.
ROKIAH BINTI ABDUL LATIFF |
|
IC
/ PP No |
: |
5963719 |
|
|
New
IC No |
: |
600815-06-5200 |
|
|
Address |
: |
07-02,
SRI PANGLIMA B, PANGSAPURI BUKIT SAUJANA, JALAN BENDAHARA, 80100 JOHOR BAHRU,
JOHOR, MALAYSIA. |
|
|
3)
|
Company
Secretary |
: |
MS.
NORIAH BINTI MD YUSOF |
|
IC
/ PP No |
: |
A1231290 |
|
|
New
IC No |
: |
690319-01-5994 |
|
|
Address |
: |
108,
JALAN SERI IMPIAN 2, TAMAN IMPIAN EMAS, 81300 SKUDAI, JOHOR, MALAYSIA. |
|
|
4)
|
Company
Secretary |
: |
MS.
LEE AI LENG |
|
New
IC No |
: |
741114-14-5784 |
|
|
Address |
: |
N1-1-14,
NURI COURT APARTMENT, JALAN PANDAN INDAH 6/12, PANDAN INDAH, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
CIMB
BANK BHD |
|
2)
|
Name |
: |
HSBC
BANK MALAYSIA BHD |
|
3)
|
Name |
: |
MALAYAN
BANKING BHD |
|
4)
|
Name |
: |
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BHD |
|
5)
|
Name |
: |
RHB
BANK BHD |
|
6)
|
Name |
: |
UNITED
OVERSEAS BANK (MALAYSIA) BHD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
28/11/1988 |
N/A |
THE
HONGKONG AND SHANGHAI BANKING CORP |
MYR
180,000.00 |
Unsatisfied |
|
2 |
04/02/1991 |
N/A |
BANK
BUMIPUTRA MALAYSIA BERHAD |
MYR
300,000.00 |
Satisfied |
|
3 |
04/02/1991 |
N/A |
BANK
BUMIPUTRA MALAYSIA BERHAD |
MYR
300,000.00 |
Satisfied |
|
4 |
07/07/1999 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
256,000.00 |
Satisfied |
|
5 |
07/07/1999 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
178,200.00 |
Satisfied |
|
6 |
02/05/2000 |
N/A |
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR
1,800,000.00 |
Satisfied |
|
7 |
02/05/2000 |
N/A |
MALAYSIAN
INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR
1,800,000.00 |
Satisfied |
|
8 |
12/12/2000 |
N/A |
OVERSEAS
UNION BANK MALAYSIA BERHAD |
MYR
3,890,000.00 |
Satisfied |
|
9 |
18/10/2001 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
3,940,000.00 |
Satisfied |
|
10 |
18/10/2001 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
3,940,000.00 |
Satisfied |
|
11 |
08/08/2002 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
4,468,000.00 |
Satisfied |
|
12 |
08/08/2002 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
4,468,000.00 |
Satisfied |
|
13 |
08/08/2002 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
1,000,000.00 |
Satisfied |
|
14 |
12/09/2003 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
8,408,000.00 |
Satisfied |
|
15 |
20/10/2003 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
5,700,000.00 |
Satisfied |
|
16 |
20/10/2003 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
5,700,000.00 |
Satisfied |
|
17 |
22/12/2004 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
3,560,000.00 |
Satisfied |
|
18 |
22/12/2004 |
N/A |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
3,560,000.00 |
Satisfied |
|
19 |
17/01/2007 |
DEPOSIT
OF FIXED DEPOSIT |
MALAYAN
BANKING BHD |
MYR
5,500,000.00 |
Unsatisfied |
|
20 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
21 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
22 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
23 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
24 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
25 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
26 |
06/03/2007 |
N/A |
CIMB
BANK BERHAD |
MYR
5,800,000.00 |
Satisfied |
|
27 |
05/10/2010 |
FACILITIES
AGREEMENT, 1ST LEGAL CHARGE AND SECURITY OVER DEPOSIT |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
28 |
15/11/2010 |
SUPPLEMENTARY
FACILITY AGREEMENT, MEMORANDUM OF DEPOSIT AND LETTER OF SET-OFF |
MALAYAN
BANKING BERHAD |
- |
Unsatisfied |
|
29 |
14/12/2010 |
FIRST
PARTY FIRST LEGAL LAND CHARGE |
RHB
BANK BERHAD |
- |
Unsatisfied |
|
30 |
14/12/2010 |
SPECIFIC
CHARGE |
RHB
BANK BHD |
MYR
3,360,000.00 |
Unsatisfied |
|
31 |
28/01/2011 |
SUPPLEMENTARY
LETTER OF OFFER AND MEMORANDUM OF DEPOSIT |
MALAYAN
BANKING BHD |
MYR
5,000,000.00 |
Unsatisfied |
|
32 |
16/05/2011 |
MEMORANDUM
OF LEGAL CHARGE OVER DEPOSITSN |
UNITED
OVERSEAS BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
33 |
29/06/2012 |
MEMORANDUM
OF DEPOSIT |
RHB
BANK BERHAD |
MYR
5,000,000.00 |
Unsatisfied |
|
34 |
06/02/2013 |
FIRST
PARTY SECOND LEGAL CHARGE, GUARANTEE AND POWER OF ATTORNEY |
HSBC
BANK MALAYSIA BERHAD |
MYR
5,000,000.00 |
Unsatisfied |
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 |
Percentage |
: |
80% |
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
Import
Countries |
: |
SINGAPORE,THAILAND |
|||
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 |
: |
10% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
90% |
|
Export
Market |
: |
UNITED
STATES |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
LETTER
OF CREDIT (LC) |
|||
|
Type
of Customer |
: |
DEALERS |
|||
|
No
of Customer |
: |
50 |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
||
|
Product
Brand Name |
: |
|
||
|
Award |
: |
1
) MS ISO 9001 : 2000 Year :1999 |
||
|
Member(s)
/ Affiliate(s) |
: |
FEDERATION
OF MALAYSIAN MANUFACTURERS (FMM) SMI
ASSOCIATION OF MALAYSIA MALAYSIA
EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) SMALL
& MEDIUM ENTERPRISE |
||
|
Production
Line |
: |
N/A |
||
|
Production
Capacity |
: |
|
||
|
Shifts |
: |
3 |
||
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
|||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
800 |
829 |
600 |
574 |
710 |
710 |
|||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing and sale
of condoms.
The subject is the largest manufacturer of a wide range of Male Latex Condoms,
which conform to all the major International Standards and Specifications.
The subject have several state-of-the-art production plants in Malaysia and
overseas manufacturing a wide range of condoms and other latex based medical
disposables to cater to the worldwide market.
The subject revealed that it produces its products in different design, colors
and flavor.
The subject are managing over 15% of the world's condom market and are global
leaders in the condom manufacturing industry.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
076878833 |
|
Current
Telephone Number |
: |
07-6878833 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
PTD
7906 & 7907, TAMAN PONTIAN JAYA, BATU 34, JALAN
JOHOR,82000,PONTIAN,JOHOR. |
|
Current
Address |
: |
PTD
7906 & 7907, TAMAN PONTIAN JAYA, BATU 34, JALAN JOHOR, 82000 PONTIAN,
JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2009
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2009
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
23.40% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
30.32% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The higher profit could be attributed to the increase in
turnover. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
67
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
107
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
91
Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. The Subject's debtors ratio was
high. The Subject should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.03
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.41
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to
assure its creditors of its ability to meet short term obligations and the Subject
was in a good liquidity position. Thus, we believe the Subject is able to
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
16.66
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.41
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough profit
to pay for the interest accrued. The Subject was lowly geared thus it had a
low financial risk. The Subject was mainly financed by its shareholders'
funds and internally generated funds. In times of economic slowdown /
downturn, the Subject being a lowly geared company, will be able to compete
better than those companies which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs
and profitability. The Subject was in good liquidity position with its total
current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
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 |
|
|
22191
: Manufacture of other products of natural or synthetic rubber, unvulcanized,
vulcanized or hardened |
|
|
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) |
|
KAREX
INDUSTRIES SDN. BHD. |
|
Financial
Year End |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
155,113,984 |
140,465,518 |
146,241,488 |
127,535,730 |
98,809,758 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
155,113,984 |
140,465,518 |
146,241,488 |
127,535,730 |
98,809,758 |
|
Costs
of Goods Sold |
(116,188,534) |
(117,383,837) |
(128,005,814) |
(95,020,750) |
(80,528,615) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
38,925,450 |
23,081,681 |
18,235,674 |
32,514,980 |
18,281,143 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
23,728,725 |
9,414,544 |
4,967,969 |
15,794,041 |
8,780,339 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
23,728,725 |
9,414,544 |
4,967,969 |
15,794,041 |
8,780,339 |
|
Taxation |
(6,054,090) |
(2,002,376) |
(338,297) |
(2,464,911) |
(1,947,410) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
17,674,635 |
7,412,168 |
4,629,672 |
13,329,130 |
6,832,929 |
|
Minority
interests |
(491,503) |
(381,820) |
(33,308) |
(200,748) |
(360,908) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
17,183,132 |
7,030,348 |
4,596,364 |
13,128,382 |
6,472,021 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
17,183,132 |
7,030,348 |
4,596,364 |
13,128,382 |
6,472,021 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
20,141,287 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
20,141,287 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
68,551,534 |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
68,551,534 |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
- |
- |
- |
142,861 |
212,590 |
|
Bankers'
acceptance |
- |
- |
- |
549,312 |
942,926 |
|
Hire
purchase |
- |
- |
- |
198,802 |
220,621 |
|
Term
loan / Borrowing |
- |
- |
- |
44,362 |
94,913 |
|
Others |
1,515,404 |
2,328,048 |
1,753,970 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,515,404 |
2,328,048 |
1,753,970 |
935,337 |
1,471,050 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
3,641,551 |
3,559,044 |
3,471,806 |
3,376,052 |
2,741,918 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,641,551 |
3,559,044 |
3,471,806 |
3,376,052 |
2,741,918 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
KAREX
INDUSTRIES SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
49,901,655 |
49,121,073 |
48,241,699 |
41,172,809 |
33,656,402 |
|
Investment
properties |
2,796,800 |
2,866,720 |
2,936,640 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
2,796,800 |
2,866,720 |
2,936,640 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
52,698,455 |
51,987,793 |
51,178,339 |
41,172,809 |
33,656,402 |
|
Stocks |
28,673,025 |
25,831,564 |
30,544,371 |
19,420,041 |
13,081,443 |
|
Trade
debtors |
45,314,004 |
52,286,866 |
36,106,714 |
26,947,516 |
23,415,369 |
|
Other
debtors, deposits & prepayments |
7,675,379 |
964,237 |
1,607,093 |
1,059,040 |
712,037 |
|
Short
term deposits |
6,707,302 |
5,577,513 |
4,853,152 |
2,928,072 |
2,840,094 |
|
Amount
due from related companies |
- |
- |
- |
16,709,200 |
18,465,738 |
|
Cash
& bank balances |
16,742,420 |
1,079,727 |
1,112,695 |
5,430,021 |
662,983 |
|
Others |
- |
1,998,820 |
2,267,030 |
277,452 |
185,506 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
105,112,130 |
87,738,727 |
76,491,055 |
72,771,342 |
59,363,170 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
157,810,585 |
139,726,520 |
127,669,394 |
113,944,151 |
93,019,572 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
29,101,486 |
30,637,151 |
27,627,070 |
15,506,436 |
13,094,084 |
|
Other
creditors & accruals |
7,884,743 |
6,381,851 |
5,904,023 |
5,475,319 |
4,166,185 |
|
Hire
purchase & lease creditors |
783,194 |
1,020,677 |
895,701 |
1,457,455 |
1,224,025 |
|
Bank
overdraft |
- |
2,765,266 |
1,424,261 |
- |
- |
|
Short
term borrowings/Term loans |
1,753,901 |
1,623,348 |
767,969 |
14,258,607 |
16,955,930 |
|
Bill
& acceptances payable |
22,463,705 |
18,391,623 |
19,216,493 |
- |
- |
|
Amounts
owing to related companies |
- |
- |
- |
16,576,626 |
9,314,644 |
|
Amounts
owing to director |
2,416,205 |
2,820,666 |
2,680,031 |
2,698,594 |
3,091,951 |
|
Provision
for taxation |
2,205,164 |
- |
- |
408,259 |
1,239,709 |
|
Other
liabilities |
7,930,838 |
8,317,359 |
9,379,058 |
2,677,715 |
3,527,887 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
74,539,236 |
71,957,941 |
67,894,606 |
59,059,011 |
52,614,415 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
30,572,894 |
15,780,786 |
8,596,449 |
13,712,331 |
6,748,755 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
83,271,349 |
67,768,579 |
59,774,788 |
54,885,140 |
40,405,157 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
Retained
profit/(loss) carried forward |
68,551,534 |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
68,551,534 |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
|
MINORITY
INTEREST |
2,389,095 |
1,897,592 |
1,515,772 |
1,482,464 |
1,281,715 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
73,440,629 |
55,765,994 |
48,353,826 |
43,724,154 |
30,395,023 |
|
Long
term loans |
4,309,650 |
6,062,862 |
5,606,173 |
60,187 |
294,589 |
|
Lease
obligations |
747,070 |
891,723 |
1,415,789 |
- |
- |
|
Hire
purchase creditors |
- |
- |
- |
2,119,532 |
1,040,545 |
|
Deferred
taxation |
4,774,000 |
5,048,000 |
4,399,000 |
3,933,000 |
3,575,000 |
|
Others |
- |
- |
- |
5,048,267 |
5,100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
9,830,720 |
12,002,585 |
11,420,962 |
11,160,986 |
10,010,134 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
83,271,349 |
67,768,579 |
59,774,788 |
54,885,140 |
40,405,157 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
KAREX
INDUSTRIES SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
23,449,722 |
6,657,240 |
5,965,847 |
8,358,093 |
3,503,077 |
|
Net
Liquid Funds |
986,017 |
(14,499,649) |
(14,674,907) |
8,358,093 |
3,503,077 |
|
Net
Liquid Assets |
1,899,869 |
(10,050,778) |
(21,947,922) |
(5,707,710) |
(6,332,688) |
|
Net
Current Assets/(Liabilities) |
30,572,894 |
15,780,786 |
8,596,449 |
13,712,331 |
6,748,755 |
|
Net
Tangible Assets |
83,271,349 |
67,768,579 |
59,774,788 |
54,885,140 |
40,405,157 |
|
Net
Monetary Assets |
(7,930,851) |
(22,053,363) |
(33,368,884) |
(16,868,696) |
(16,342,822) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
25,244,129 |
11,742,592 |
6,721,939 |
16,729,378 |
10,251,389 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
28,885,680 |
15,301,636 |
10,193,745 |
20,105,430 |
12,993,307 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
30,057,520 |
30,755,499 |
29,326,386 |
17,895,781 |
19,515,089 |
|
Total
Liabilities |
84,369,956 |
83,960,526 |
79,315,568 |
70,219,997 |
62,624,549 |
|
Total
Assets |
157,810,585 |
139,726,520 |
127,669,394 |
113,944,151 |
93,019,572 |
|
Net
Assets |
83,271,349 |
67,768,579 |
59,774,788 |
54,885,140 |
40,405,157 |
|
Net
Assets Backing |
73,440,629 |
55,765,994 |
48,353,826 |
43,724,154 |
30,395,023 |
|
Shareholders'
Funds |
73,440,629 |
55,765,994 |
48,353,826 |
43,724,154 |
30,395,023 |
|
Total
Share Capital |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
Total
Reserves |
68,551,534 |
51,368,402 |
44,338,054 |
39,741,690 |
26,613,308 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.31 |
0.09 |
0.09 |
0.14 |
0.07 |
|
Liquid
Ratio |
1.03 |
0.86 |
0.68 |
0.90 |
0.88 |
|
Current
Ratio |
1.41 |
1.22 |
1.13 |
1.23 |
1.13 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
67 |
67 |
76 |
56 |
48 |
|
Debtors
Ratio |
107 |
136 |
90 |
77 |
86 |
|
Creditors
Ratio |
91 |
95 |
79 |
60 |
59 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.41 |
0.55 |
0.61 |
0.41 |
0.64 |
|
Liabilities
Ratio |
1.15 |
1.51 |
1.64 |
1.61 |
2.06 |
|
Times
Interest Earned Ratio |
16.66 |
5.04 |
3.83 |
17.89 |
6.97 |
|
Assets
Backing Ratio |
33.31 |
27.11 |
23.91 |
21.95 |
16.16 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
15.30 |
6.70 |
3.40 |
12.38 |
8.89 |
|
Net
Profit Margin |
11.08 |
5.01 |
3.14 |
10.29 |
6.55 |
|
Return
On Net Assets |
30.32 |
17.33 |
11.25 |
30.48 |
25.37 |
|
Return
On Capital Employed |
29.20 |
15.99 |
10.57 |
28.93 |
23.89 |
|
Return
On Shareholders' Funds/Equity |
23.40 |
12.61 |
9.51 |
30.03 |
21.29 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.