|
Report No. : |
336769 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.P. STEEL SDN. BHD. |
|
|
|
|
Registered Office : |
10A, Jalan 54, Desa Jaya, Kepong, 52100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
24.01.1989 |
|
|
|
|
Com. Reg. No.: |
178180-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the steel service centre. |
|
|
|
|
No. of Employees : |
50 [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. |
: |
178180-D |
|
COMPANY
NAME |
: |
P.P.
STEEL SDN. BHD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
24/01/1989 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
10A,
JALAN 54, DESA JAYA, KEPONG, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
BUSINESS
ADDRESS |
: |
LOT
33, JALAN INDUSTRI 2/1, RAWANG INTEGRATED INDUSTRIAL PARK, 48000 RAWANG,
SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-60929888 |
|
FAX.NO. |
: |
03-60929018 |
|
WEB
SITE |
: |
WWW.PPSSC.COM.MY |
|
CONTACT
PERSON |
: |
LEE
SIN PEN ( MANAGING DIRECTOR ) |
|
INDUSTRY
CODE |
: |
24109
|
|
PRINCIPAL
ACTIVITY |
: |
STEEL
SERVICE CENTRE |
|
AUTHORISED
CAPITAL |
: |
MYR
10,000,000.00 DIVIDED INTO |
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
6,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR
69,674,634 [2014] |
|
NET
WORTH |
: |
MYR
40,035,898 [2014] |
|
STAFF
STRENGTH |
: |
50
[2015] |
|
|
|
|
|
BANKER
(S) |
|
ALLIANCE
BANK MALAYSIA BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER
CHECK |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) steel service centre.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
21/08/2014 |
MYR
10,000,000.00 |
MYR
6,000,000.00 |
|
16/12/1996 |
MYR
5,000,000.00 |
MYR
2,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
DATUK
LEE SIN PEN |
107,
JALAN DEDAP BATIK, SIERRAMAS RESORT HOMES, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
510125-04-5385
4133965 |
3,000,000.00 |
50.00 |
|
MR.
LEE SIN CHOON |
52,
LOT 478, JALAN SENYUM MATAHARI, COUNTRY HEIGHTS SUNGAI RAMAL, 43000 KAJANG,
SELANGOR, MALAYSIA. |
541205-04-5053
4714107 |
1,200,000.00 |
20.00 |
|
MR.
LEE SIN PIN + |
22,
SD 11/3C, JALAN KIARA PJU 9, BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
451130-04-5147
0192085 |
900,000.00 |
15.00 |
|
LEE
CHOW HUA |
NO.
14, JALAN DESA BAHRU, TAMAN BAHRU, 75350 BATU BERENDAM, MELAKA, MALAYSIA. |
0230012 |
900,000.00 |
15.00 |
|
--------------- |
------ |
|||
|
6,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
LEE CHOW LIN |
|
Address |
: |
107,
JALAN DEDAP BATIK, SIERRAMAS RESORT HOMES, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
New
IC No |
: |
880505-14-5925 |
|
Date
of Birth |
: |
05/05/1988 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
07/02/2013 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
LEE CHOW KIM |
|
Address |
: |
8,
JALAN ELITIS AMBAL BIRU, VALENCIA, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA. |
|
New
IC No |
: |
751220-04-5129 |
|
Date
of Birth |
: |
20/12/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
02/05/2012 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
LEE CHOW HAUR |
|
Address |
: |
107,
JALAN DEDAP BATIK, SIERRAMAS RESORT HOMES, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
New
IC No |
: |
850412-04-5311 |
|
Date
of Birth |
: |
12/04/1985 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
07/02/2013 |
DIRECTOR
4
|
Name
Of Subject |
: |
DATUK
LEE SIN PEN |
|
Address |
: |
107,
JALAN DEDAP BATIK, SIERRAMAS RESORT HOMES, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
IC
/ PP No |
: |
4133965 |
|
New
IC No |
: |
510125-04-5385 |
|
Date
of Birth |
: |
25/01/1951 |
|
Nationality |
: |
MALAYSIAN |
DIRECTOR
5
|
Name
Of Subject |
: |
MR.
LEE CHOW LEONG |
|
Address |
: |
107,
JALAN DEDAP BATIK, SIERRAMAS RESORT HOMES, 47000 SUNGAI BULOH, SELANGOR,
MALAYSIA. |
|
New
IC No |
: |
820310-14-5517 |
|
Date
of Birth |
: |
10/03/1982 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
02/05/2012 |
DIRECTOR
6
|
Name
Of Subject |
: |
MR.
LEE SIN PIN |
|
Address |
: |
22,
SD 11/3C, JALAN KIARA PJU 9, BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC
/ PP No |
: |
0192085 |
|
New
IC No |
: |
451130-04-5147 |
|
Date
of Birth |
: |
30/11/1945 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
24/01/1989 |
|
1)
|
Name
of Subject |
: |
LEE
SIN PEN |
|
Position |
: |
MANAGING
DIRECTOR |
|
Auditor |
: |
YYC
& CO |
|
Auditor'
Address |
: |
17
& 19, JALAN BRUNEI BARAT, OFF JALAN PUDU, 55100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
1)
|
Company
Secretary |
: |
MS.
LING SIOW MOY |
|
IC
/ PP No |
: |
8380891 |
|
|
New
IC No |
: |
540117-10-5162 |
|
|
Address |
: |
17,
JALAN RIMBA RIANG 9/8, SEKSYEN 9, KOTA DAMANSARA, 47810 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
2)
|
Company
Secretary |
: |
MS.
FONG LAI CHEE |
|
IC
/ PP No |
: |
5485728 |
|
|
New
IC No |
: |
580404-10-5946 |
|
|
Address |
: |
40,
LORONG CP 1/8, CHERAS PERDANA, BATU 9 3/4, CHERAS, 43200 BALAKONG, SELANGOR,
MALAYSIA. |
Banking
relations are maintained principally with :
|
1)
|
Name |
: |
ALLIANCE
BANK MALAYSIA BHD |
|
2)
|
Name |
: |
AMBANK
(M) BHD |
|
3)
|
Name |
: |
HONG
LEONG BANK BHD |
|
4)
|
Name |
: |
PUBLIC
BANK BHD |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
30/12/1992 |
N/A |
PUBLIC
BANK BERHAD |
MYR
600,000.00 |
Unsatisfied |
|
2 |
24/06/1993 |
N/A |
HONGKONG
BANK MALAYSIA BERAHD |
MYR
1,000,000.00 |
Satisfied |
|
3 |
06/05/1996 |
N/A |
ARABMALAYSIAN
BANK BERHAD |
MYR
4,500,000.00 |
Satisfied |
|
4 |
29/11/1996 |
2ND
NATIONAL LAND CODE CHARGE |
PUBLIC
BANK BERHAD |
MYR
3,500,000.00 |
Unsatisfied |
|
5 |
20/12/1996 |
1ST
LOAN AGREEMENT AND DEED OF ASSIGNMENT |
PUBLIC
BANK BERHAD |
MYR
85,000.00 |
Unsatisfied |
|
6 |
20/12/1996 |
N/A |
PUBLIC
BANK BERHAD |
MYR
85,000.00 |
Unsatisfied |
|
7 |
02/04/1997 |
N/A |
HONG
LEONG BANK BERHAD |
MYR
28,380,000.00 |
Satisfied |
|
8 |
13/10/1997 |
N/A |
HONG
LEONG BANK BERHAD |
MYR
208,000.00 |
Satisfied |
|
9 |
18/12/1997 |
N/A |
HONG
LEONG BANK BERHAD |
MYR
264,000.00 |
Satisfied |
|
10 |
23/03/2004 |
FIRST
LEGAL CHARGE UNDER NATIONAL LAND CODE 1965 |
AMBANK
BERHAD |
MYR
2,800,000.00 |
Unsatisfied |
|
11 |
22/12/2004 |
N/A |
HONG
LEONG BANK BERHAD |
- |
Satisfied |
|
12 |
22/12/2004 |
N/A |
HONG
LEONG BANK BERHAD |
- |
Satisfied |
|
13 |
28/11/2006 |
LEGAL
CHARGE OVER PROPERTY |
ALLIANCE
ISLAMIC BANK BERHAD |
- |
Unsatisfied |
|
14 |
28/11/2006 |
N/A |
ALLIANCE
ISLAMIC BANK BERHAD |
- |
Unsatisfied |
|
15 |
02/06/2011 |
FIRST
PARTY SECOND LEGAL CHARGE |
AMBANK
(M) BHD |
MYR
1,500,000.00 |
Unsatisfied |
|
16 |
26/03/2013 |
FIRST
PARTY THIRD LEGAL CHARGE DATED 26/03/2013 |
AMISLAMIC
BANK BERHAD |
MYR
2,500,000.00 |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the Subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
*
We have checked through the Subject in our defaulters' database which comprised
of debtors that have been blacklisted by our customers and debtors that have
been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import
Countries |
: |
ASIA |
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit
Term |
: |
30
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Type
of Customer |
: |
END
USERS |
|||
|
Services |
: |
|
|
|
Ownership
of premises |
: |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2013 |
2012 |
2010 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
50 |
50 |
50 |
100 |
|||||
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the
(as a / as an) steel service centre.
The Subject provides a wide range of services as follows,
1) Slitting
2) Precision
3) Warehouse/ Storage and others.
The Subject serves a wide range of products which include:-
* Electric-Resistance-Welded (ERW) carbon steel pipes
* Square and rectangular hollow sections
* Light-gauge lip channels
* Flat bars
* Mild steel plates
The Subject sells the production to engineering/construction companies,
electrical and electronic industry, automotive industry and others.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-60929888 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
LOT
33, JALAN INDUSTRI 2/1, RAWANG INTEGRATED INDUSTRIAL
PARK,48000,RAWANG,SELANGOR. |
|
Current
Address |
: |
LOT
33, JALAN INDUSTRI 2/1, RAWANG INTEGRATED INDUSTRIAL PARK, 48000 RAWANG,
SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(0.45%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
3.13% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The management had succeeded in turning the Subject into a
profit making company. The profit could be due to better control of its
operating costs and efficiency in utilising its resources. The Subject's
unfavourable returns on shareholders' funds indicate the management's
inefficiency in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
93
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
74
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
7
Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. 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 |
[ |
0.60
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.04
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 |
[ |
1.04
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.67
Times |
] |
|
|
The
Subject's interest cover was low. If its profits fall or when interest rate
rises, it may not be able to meet all its interest payment. The Subject
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 : |
||||||
|
The
Subject's turnover showed a volatile trend but its losses were lower when compared
to the previous corresponding period. This could suggest that the Subject was
more efficient in its operating cost control and was more competitive. Due to
its weak liquidity position, the Subject will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. If there is a fall in the
Subject's profit or any increase in interest rate, the Subject may not be
able to generate sufficient cash-flow to service its interest. The Subject 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 : LIMITED |
||||||
|
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
|
|||||
|
MSIC
CODE |
|
|
24109
: Manufacture of other basic iron and steel products n.e.c. |
|
|
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 |
|
Incorporated in 1989, the Subject is a Private Limited company, focusing on
steel service centre. The Subject has been in business for over two decades. It
has built up a strong clientele base and satisfactory reputation will enable
the Subject to further enhance its business in the near term. The Subject is
expected to enjoy a stable market shares. With MYR 6,000,000 in issued and paid
up capital, the Subject has the potential of capturing a higher market shares
as it is competing aggressively in the market.
Over the years, the Subject should have build up its clientele base and
received supports from its regular customers. Investigation revealed that the
Subject's interest lies mostly in the local market. Thus, any adverse changes
to the local economy might have a negative impact on the Subject's business
performance. The Subject is operating on a medium scale and it has
approximately 50 employees in its business operations. Overall, we regard that
the Subject's management capability is average. This indicates that the Subject
has greater potential to improve its business performance and raising income
for the Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. The Subject has generated an
unfavourable return on shareholders' funds indicating that the management was
inefficient in utilising its funds to generate return. Due to its weak
liquidity position, the Subject may face working capital deficiency in meeting
its short term financial obligations if no fresh capital are injected into the
Subject. Being a lowly geared company, the Subject is exposed to low financial
risk as it is mainly dependent on its internal funds to finance its business
needs. Given a positive net worth standing at MYR 40,035,898, the Subject
should be able to maintain its business in the near terms.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the Subject
has a good control over its resources.
Overall, the Subject's payment habit is good as the Subject has a good credit
control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the Subject is expected to benefit from the favourable
outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
normally.
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)
Financial
Year End |
2014-02-28 |
2013-02-28 |
2012-02-29 |
2011-02-28 |
2010-02-28 |
|
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 |
69,674,634 |
53,816,719 |
61,831,925 |
53,553,918 |
52,349,482 |
|
Other
Income |
184,686 |
203,974 |
230,207 |
249,211 |
200,459 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
69,859,320 |
54,020,693 |
62,062,132 |
53,803,129 |
52,549,941 |
|
Costs
of Goods Sold |
(60,435,668) |
(47,755,627) |
(54,686,163) |
(42,183,982) |
(43,733,277) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
9,423,652 |
6,265,066 |
7,375,969 |
11,619,147 |
8,816,664 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
45,166 |
(2,476,063) |
(655,661) |
613,674 |
(3,041,121) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
45,166 |
(2,476,063) |
(655,661) |
613,674 |
(3,041,121) |
|
Taxation |
(226,667) |
- |
(360,274) |
(337,045) |
390,915 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(181,501) |
(2,476,063) |
(1,015,935) |
276,629 |
(2,650,206) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
13,990,473 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
13,990,473 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
7,943,397 |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
7,943,397 |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
559,880 |
475,771 |
402,585 |
303,023 |
264,376 |
|
Bankers'
acceptance |
562,831 |
414,466 |
111,491 |
100,955 |
91,512 |
|
Hire
purchase |
29,963 |
12,322 |
14,461 |
11,383 |
36,204 |
|
Letter
of credit |
19,792 |
6,631 |
- |
- |
- |
|
Term
loan / Borrowing |
15,642 |
32,734 |
48,327 |
59,664 |
67,184 |
|
Trust
receipts |
32,803 |
- |
- |
- |
6,778 |
|
Others |
10,530 |
10,530 |
- |
- |
319 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,231,441 |
952,454 |
576,864 |
475,025 |
466,373 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
676,892 |
672,798 |
829,014 |
854,773 |
913,148 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
676,892 |
672,798 |
829,014 |
854,773 |
913,148 |
|
|
============= |
============= |
============= |
============= |
============= |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
38,684,626 |
12,367,952 |
12,963,475 |
13,763,840 |
12,282,459 |
|
Investments |
360,000 |
360,000 |
360,000 |
360,000 |
360,000 |
|
Deferred
assets |
- |
195,667 |
195,667 |
99,380 |
397,635 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
360,000 |
555,667 |
555,667 |
459,380 |
757,635 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
39,044,626 |
12,923,619 |
13,519,142 |
14,223,220 |
13,040,094 |
|
Stocks |
17,790,683 |
18,428,385 |
15,227,414 |
15,788,820 |
9,748,318 |
|
Trade
debtors |
14,045,144 |
9,481,335 |
11,156,615 |
10,497,586 |
8,706,016 |
|
Other
debtors, deposits & prepayments |
9,930,023 |
7,455,028 |
4,870,010 |
10,931,509 |
4,246,725 |
|
Amount
due from director |
- |
28,168 |
28,168 |
27,746 |
27,746 |
|
Cash
& bank balances |
282,538 |
157,331 |
329,852 |
578,279 |
1,169,275 |
|
Others |
105,807 |
406,618 |
380,071 |
861,210 |
1,179,848 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
42,154,195 |
35,956,865 |
31,992,130 |
38,685,150 |
25,077,928 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
81,198,821 |
48,880,484 |
45,511,272 |
52,908,370 |
38,118,022 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
1,175,799 |
1,946,152 |
2,161,756 |
7,150,904 |
541,239 |
|
Other
creditors & accruals |
12,218,886 |
6,931,738 |
1,884,859 |
4,514,223 |
1,135,777 |
|
Hire
purchase & lease creditors |
209,202 |
81,061 |
76,460 |
106,673 |
99,821 |
|
Bank
overdraft |
- |
- |
6,186,277 |
4,177,990 |
3,669,986 |
|
Short
term borrowings/Term loans |
26,083,916 |
24,706,579 |
209,039 |
195,907 |
189,025 |
|
Other
borrowings |
- |
- |
983,275 |
- |
- |
|
Bill
& acceptances payable |
- |
- |
16,152,532 |
17,597,600 |
13,447,042 |
|
Amounts
owing to director |
744,662 |
744,662 |
744,662 |
744,662 |
744,662 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
40,432,465 |
34,410,192 |
28,398,860 |
34,487,959 |
19,827,552 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,721,730 |
1,546,673 |
3,593,270 |
4,197,191 |
5,250,376 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
40,766,356 |
14,470,292 |
17,112,412 |
18,420,411 |
18,290,470 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
Revaluation
reserve |
26,092,501 |
- |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
7,943,397 |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
34,035,898 |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
40,035,898 |
14,124,898 |
16,600,961 |
17,616,896 |
17,340,267 |
|
Long
term loans |
- |
105,803 |
340,443 |
556,048 |
754,063 |
|
Hire
purchase creditors |
730,458 |
239,591 |
171,008 |
247,467 |
196,140 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
730,458 |
345,394 |
511,451 |
803,515 |
950,203 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
40,766,356 |
14,470,292 |
17,112,412 |
18,420,411 |
18,290,470 |
|
|
============= |
============= |
============= |
============= |
============= |
|
TYPES
OF FUNDS |
|||||
|
Cash |
282,538 |
157,331 |
329,852 |
578,279 |
1,169,275 |
|
Net
Liquid Funds |
282,538 |
157,331 |
(22,008,957) |
(21,197,311) |
(15,947,753) |
|
Net
Liquid Assets |
(16,068,953) |
(16,881,712) |
(11,634,144) |
(11,591,629) |
(4,497,942) |
|
Net
Current Assets/(Liabilities) |
1,721,730 |
1,546,673 |
3,593,270 |
4,197,191 |
5,250,376 |
|
Net
Tangible Assets |
40,766,356 |
14,470,292 |
17,112,412 |
18,420,411 |
18,290,470 |
|
Net
Monetary Assets |
(16,799,411) |
(17,227,106) |
(12,145,595) |
(12,395,144) |
(5,448,145) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
1,276,607 |
(1,523,609) |
(78,797) |
1,088,699 |
(2,574,748) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,953,499 |
(850,811) |
750,217 |
1,943,472 |
(1,661,600) |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
27,023,576 |
25,133,034 |
24,119,034 |
22,881,685 |
18,356,077 |
|
Total
Liabilities |
41,162,923 |
34,755,586 |
28,910,311 |
35,291,474 |
20,777,755 |
|
Total
Assets |
81,198,821 |
48,880,484 |
45,511,272 |
52,908,370 |
38,118,022 |
|
Net
Assets |
40,766,356 |
14,470,292 |
17,112,412 |
18,420,411 |
18,290,470 |
|
Net
Assets Backing |
40,035,898 |
14,124,898 |
16,600,961 |
17,616,896 |
17,340,267 |
|
Shareholders'
Funds |
40,035,898 |
14,124,898 |
16,600,961 |
17,616,896 |
17,340,267 |
|
Total
Share Capital |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
6,000,000 |
|
Total
Reserves |
34,035,898 |
8,124,898 |
10,600,961 |
11,616,896 |
11,340,267 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.01 |
0 |
0.01 |
0.02 |
0.06 |
|
Liquid
Ratio |
0.60 |
0.51 |
0.59 |
0.66 |
0.77 |
|
Current
Ratio |
1.04 |
1.04 |
1.13 |
1.12 |
1.26 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
93 |
125 |
90 |
108 |
68 |
|
Debtors
Ratio |
74 |
64 |
66 |
72 |
61 |
|
Creditors
Ratio |
7 |
15 |
14 |
62 |
5 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.67 |
1.78 |
1.45 |
1.30 |
1.06 |
|
Liabilities
Ratio |
1.03 |
2.46 |
1.74 |
2.00 |
1.20 |
|
Times
Interest Earned Ratio |
1.04 |
(1.60) |
(0.14) |
2.29 |
(5.52) |
|
Assets
Backing Ratio |
6.79 |
2.41 |
2.85 |
3.07 |
3.05 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.06 |
(4.60) |
(1.06) |
1.15 |
(5.81) |
|
Net
Profit Margin |
(0.26) |
(4.60) |
(1.64) |
0.52 |
(5.06) |
|
Return
On Net Assets |
3.13 |
(10.53) |
(0.46) |
5.91 |
(14.08) |
|
Return
On Capital Employed |
3.12 |
(10.47) |
(0.34) |
4.79 |
(11.67) |
|
Return
On Shareholders' Funds/Equity |
(0.45) |
(17.53) |
(6.12) |
1.57 |
(15.28) |
|
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.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.