|
Report No. : |
336869 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PUSHPA METAL MANUFACTURING (M) SDN. BHD. |
|
|
|
|
Registered Office : |
79 (Room A), Jalan Ss21/60, Damansara Utama, Third Floor, 47400 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
30.04.2013 |
|
|
|
|
Com. Reg. No.: |
1044540-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the
recycling, manufacturing and trading of copper and its related products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
1044540-D |
|
COMPANY NAME |
: |
PUSHPA METAL MANUFACTURING
(M) SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
30/04/2013 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
79 (ROOM A), JALAN SS21/60,
DAMANSARA UTAMA, THIRD FLOOR, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 5090-B, JALAN TERATAI, 5.1/2TH
MILE MERU, 41050 KLANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
HP.NO. |
: |
0192105942 |
|
CONTACT PERSON |
: |
SHANMUGANATHAN A/L
V.VELUCHETTY ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
38112 |
|
PRINCIPAL ACTIVITY |
: |
RECYCLING, MANUFACTURING AND
TRADING OF COPPER AND ITS RELATED PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED
INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,500,000.00 DIVIDED
INTO |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) recycling, manufacturing and trading of copper
and its related products.
The Subject is not listed on
Bursa Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
18/04/2014 |
MYR 5,000,000.00 |
MYR 2,500,000.00 |
|
16/08/2013 |
MYR 5,000,000.00 |
MYR 1,500,000.00 |
|
01/07/2013 |
MYR 5,000,000.00 |
MYR 100.00 |
|
20/05/2013 |
MYR 400,000.00 |
MYR 100.00 |
The major shareholder(s) of the
Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. SHANMUGANATHAN A/L
V.VELUCHETTY + |
2, JALAN MAHKOTA 1, BANDAR
BARU KLANG, 41150 KLANG, SELANGOR, MALAYSIA. |
611120-71-5063 8210040 |
1,750,000.00 |
70.00 |
|
MS. PUSHPAVALLI A/P PUNUSAMY
+ |
2, JALAN MAHKOTA 1, BANDAR
BARU KLANG, 41150 KLANG, SELANGOR, MALAYSIA. |
661211-02-5044 |
750,000.00 |
30.00 |
|
--------------- |
------ |
|||
|
2,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name Of Subject |
: |
MS. PUSHPAVALLI A/P PUNUSAMY |
|
Address |
: |
2, JALAN MAHKOTA 1, BANDAR
BARU KLANG, 41150 KLANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
661211-02-5044 |
|
Date of Birth |
: |
11/12/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/04/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SHANMUGANATHAN A/L
V.VELUCHETTY |
|
Address |
: |
2, JALAN MAHKOTA 1, BANDAR
BARU KLANG, 41150 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
8210040 |
|
New IC No |
: |
611120-71-5063 |
|
Date of Birth |
: |
20/11/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/04/2013 |
|
1) |
Name of Subject |
: |
SHANMUGANATHAN A/L
V.VELUCHETTY |
|
Position |
: |
DIRECTOR |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
MS. TEA SOR HUA |
|
IC / PP No |
: |
A1804657 |
|
|
New IC No |
: |
710217-08-6228 |
|
|
Address |
: |
77C, JALAN SS21/60, DAMANSARA
UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
2) |
Company Secretary |
: |
MS. CHIENG MEEI TSONG |
|
IC / PP No |
: |
K0458952 |
|
|
New IC No |
: |
750711-13-5212 |
|
|
Address |
: |
77C, JALAN SS 21/60, DAMANSARA
UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Products manufactured |
: |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) recycling,
manufacturing and trading of copper and its related products.
The Subject refused to disclose its operation.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
N/A |
|
Current Telephone Number |
: |
0192105942 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 5090 - B, JALAN
TERATAI,5. 1/2TH MILE MERU, 41050 - KLANG |
|
Current Address |
: |
LOT 5090-B, JALAN TERATAI,
5.1/2TH MILE MERU, 41050 KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and he only provided limited
information.
He refused to disclose the Subject's fax number, banker and number of
employees.
|
No latest financial accounts
are available at the Registry Office, thus we are not able to comment on the
Subject's financial performance. |
||||||
|
Overall financial condition
of the Subject : N/A |
||||||
|
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 |
|
|
38112 : Collection of
recyclable materials |
|
|
INDUSTRY : |
ECONOMY |
|
In 2014, the economy is projected to grow 5.5% - 6% (2013: 4.7%), which
is higher than the initial forecast of 4.5% - 5.5% in early 2014. Growth was
supported by resilient domestic demand and reinforced by higher exports. The
faster pace of recovery, particularly in the US, UK and selected euro area
economies as well as moderate growth in the emerging economies provided
strong support to the Malaysian export oriented industries and trade-related
services. Consequently, gross exports rebounded strongly by 10.7% during the
first seven months of 2014 from a contraction of 2.8% in the corresponding
period in 2013. Furthermore, the economy growth of Malaysia in 2015 is
expected to be 5%-6% driven by improving external demand, resilient domestic
economic activity, and government infra- structure projects. The spillover
and multiplier effect from government spending is crucial for economic growth
in the country. The government also aims to boost the economy by increasing
job opportunities and drive supporting industries. |
|
|
Meanwhile, the Malaysian economy has benefited from several
initiatives and reforms taken over the years to enhance its resilience and
competitiveness. The nation's strengths include: strong macroeconomic
fundamentals such as a diversified economy, low unemployment, strong
international reserves, growing role of the private sector, and a healthy
financial system to support economic activity. |
|
|
On the demand side, growth will be reinforced by resilient consumer
spending, strong private investment activity and improving global demand. The
domestic demand is expected to expand in 2015 at a moderate pace, underpinned
by higher investment and sustained consumption spending. Private investment
is expected to remain strong supported by increasing domestic activity, a
favorable external sector, and ongoing projects under the Economic
Transformation Programme (ETP). Private consumption is, however, expected to
moderate below its long-term average, but will continue to support growth.
Household spending is expected to moderate amid higher inflation following
the implementation of GST. Nonetheless, the impact of higher inflation on
consumption is expected to be temporary and will eventually taper off after a
few months of the GST implementation. |
|
|
On the supply side, all economic sectors are expected to record
positive in 2015, with the services and manufacturing sectors remaining the
major contribution to growth. The service sector is projected to grow by 5.6%
with all subsectors recording expansion such as wholesale trade, transport
and storage, retail trade as well as accommodation and restaurants. The
manufacturing sector is expected to grow 5.5% boosted by strong domestic and
export-oriented industries. Meanwhile, the export-oriented industries,
particularly the E&E subsector will benefit from the improvement in
external conditions in line with improving global growth. The agriculture
sector is expected to grow 3.1% by recording higher commodity production and
increase output of food commodities, while the construction sector is
expected to grow 10.7% driven by robust activity in the civil engineering
projects in the O&G sector, residential and non-residential buildings.
The mining sector is expected to grow 2.8% backed by the increase in production
of natural gas and crude oil following capacity enhancement and new
production facilities. |
|
|
Moreover, in 2014, boosted by strong external demand for manufactured
products and stable commodity prices, exports are expected to grow 6%. Import
growth will remain resilient at 4.3% supported by continued expansion in
manufacturing, investment and consumption activities. Meanwhile, higher
remittances by foreign workers in Malaysia will see a marginally higher
deficit in the secondary income account due to the full implementation of the
Minimum Wage Policy effective from January 2014. Furthermore, Malaysia's
external position is expected to remain strong in 2015 with improve prospects
for external environment, upturn in global semiconductor sales, as well as
resilient domestic and regional demand. Gross exports are expected to
increase 3.2% spurred by higher demand for manufactured products, in
particular E&E, and steady demand for commodities. Gross import are,
however, projected to grow at a faster pace of 5.3% boosted by higher demand
for intermediate inputs and broad-based capital spending, particularly in the
manufacturing and services sectors as well as ongoing implementation of
infrastructure projects. Higher investment activity across major sectors by
the Non-Financial Public Enterprises (NFPEs) is also expected to contribute
to import growth. |
|
|
In 2015, inflation is expected to increase 4-5%, largely due to the
implementation of Goods and Services Tax (GST), spillover effect of fuel
subsidy reduction, and electricity tariff hike in January 2014. This
inflation expectation further heightens the possibility of more Overnight
Policy Rate (OPR) hikes, following the 25 basis points hike in July 2014.
Given the subdued external cost pressure, domestic cost remains the major
factor that drives inflation in 2015. The implementation of the GST will have
a transitory impact on the cost of goods and services. However, the strong
capacity expansion over the past years will help to mitigate the cost pressures,
while a more cautious stance of consumers would also contribute to moderating
demand and hence prevent inflation from becoming more entrenched. |
|
|
On the other hand, Gross National Income (GNI) in 2015 is expected to expand
further by 9.4% (2014: 10.2%) following continued growth in the domestic
economy. With total consumption spending in nominal terms expected to
increase 9.2%, the Gross National Savings (GNS) is projected to expand 9.8%
(2014: 14.5%). Consequently, the share of GNS and GNI is expected to increase
to 32.5% (2014: 32.4%). However, in line with the better economic growth,
national income as measured by the nominal GNI, is estimated to expand 10.2%
to RM1,049.5 billion in 2014, surpassing for the first time, the RM1-trillion
mark. Other than that, nominal GNI per capita is expected to increase 8.1% to
RM37,486 in 2015 (2014: 8.9%, RM34,682). In terms of Purchasing Power Parity
(PPP), per capital income is expected to increase 2.4% to USD 23,512 in 2015
(2014: 2.2%, USD 22,958). |
|
|
Under budget 2015, the government targets to bring down the budget
deficit to -3% of GDP by 2015. The initiations of subsidy rationalization and
Goods and Services Tax (GST) in April 2015 are crucial steps towards fiscal
consolidation. |
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|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
Incorporated in 2013, the Subject is a Private Limited company, focusing
on recycling, manufacturing and trading of copper and its related products.
The Subject has been in business for less than 5 years and it has slowly been
building up contact with its clients while competing in the industry.
However, it has yet to enjoy a stable market shares as it need to compete
many well established players in the same field. A paid up capital of MYR
2,500,000 allows the Subject to expand its business more comfortably.
However, the Subject does not have strong shareholders’ backing. Without a
strong shareholders' backing, the opportunity of the Subject to expand its
business is limited.
|
|
|
No latest financial accounts are available at the Registry Office.
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
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.