|
Report No. : |
352378 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LEOCH ACCUPOWER (M) SDN. BHD. |
|
|
|
|
Registered Office : |
29-3, Jalan 1/116b, Kuchai Entrepreneurs Park,
Off Jalan Kuchai Lama, 58200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
21.07.2011 |
|
|
|
|
Com. Reg. No.: |
953816-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing and trading in batteries. |
|
|
|
|
No. of Employee : |
300 [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.
Malaysia is vulnerable to a fall in world commodity prices or a general
slowdown in global economic activity.
The NAJIB
administration 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. Gross exports of goods and services constitute more than 80% of
GDP. The oil and gas sector supplied about 29% of government revenue in 2014.
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 trying to lessen its
dependence on state oil producer Petronas.
Bank
Negara Malaysia (the central bank) maintains healthy foreign exchange reserves;
a well-developed regulatory regime has limited Malaysia's exposure to riskier
financial instruments and the global financial crisis. In order to attract
increased investment, NAJIB 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. |
: |
953816-K |
||||
|
COMPANY NAME |
: |
LEOCH ACCUPOWER (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/07/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
29-3, JALAN
1/116B, KUCHAI ENTREPRENEURS PARK, OFF JALAN KUCHAI LAMA, 58200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 13338 &
2493, JALAN SUKEPI, KAWASAN PERINDUSTRIAN JENJAROM, 42600 JENJAROM, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31916133 |
||||
|
FAX.NO. |
: |
03-31913533 |
||||
|
WEB SITE |
: |
WWW.LEOCH-ACCUPOWER.COM |
||||
|
CONTACT PERSON |
: |
TAN CHIN SIEA (
DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
27200 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING
AND TRADING IN BATTERIES |
||||
|
AUTHORISED CAPITAL |
: |
MYR
50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR
30,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
MYR 17,259,799
[2014] |
||||
|
STAFF STRENGTH |
: |
300 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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 trading in batteries.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
23/07/2015 |
MYR 50,000,000.00 |
MYR 30,000,000.00 |
|
28/05/2015 |
MYR 50,000,000.00 |
MYR 25,000,000.00 |
|
20/05/2013 |
MYR 25,000,000.00 |
MYR 20,000,000.00 |
|
15/02/2013 |
MYR 25,000,000.00 |
MYR 13,000,000.00 |
|
20/01/2012 |
MYR 5,000,000.00 |
MYR 5,000,000.00 |
|
03/10/2011 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
21/07/2011 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ACCUPRO SDN. BHD. |
27A, JALAN BPU 8, 14TH MILE JALAN PUCHONG,
BANDAR PUCHONG UTAMA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
197181V |
18,000,000.00 |
60.00 |
|
LEOCH INTERNATIONAL HOLDING PTE. LTD. |
53, UBI AVENUE 1, 03-21 PAYA UBI INDUSTRIAL
PARK, 47100 PUCHONG, SELANGOR, MALAYSIA. |
201109715D |
12,000,000.00 |
40.00 |
|
--------------- |
------ |
|||
|
30,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
YAO MINGWANG |
|
Address |
: |
20-1, HUILONG ROAD, HUAYANG TOWN, WANGJIANG
COUNTY, ANQING CITY, ANHUI PROVINCE, CHINA. |
|
IC / PP No |
: |
G25744303 |
|
Date of Appointment |
: |
13/09/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. TAN CHIN SIEA |
|
Address |
: |
LOT 8831, JALAN POKOK SAKAT, KAWASAN 6,
41000 KLANG, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
- JLN TOKONG, SIMPANG TUJUH, KOTA ALAM
SHAH, 41000 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6148602 |
|
New IC No |
: |
610105-10-6687 |
|
Date of Birth |
: |
05/01/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
21/07/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. TAN KAI LIN |
|
Address |
: |
LOT 8831, JALAN POKOK SAKAT, KAWASAN 6,
41200 KLANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
930715-10-5190 |
|
Date of Birth |
: |
15/07/1993 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/09/2011 |
DIRECTOR 4
|
Name Of Subject |
: |
LI JIANGUANG |
|
Address |
: |
2, SIXTH BUILDING XIANGXU VILLAGE,
YANGGUTANG TOWN YUHU DISTRICT, XIANGTAN CITY, HUNAN PROVINCE, CHINA. |
|
IC / PP No |
: |
G22179874 |
|
Date of Appointment |
: |
13/09/2011 |
DIRECTOR 5
|
Name Of Subject |
: |
MS. LEE LEY HOON |
|
Address |
: |
LOT 8831, JALAN POKOK SAKAT, KAWASAN 6,
41200 KLANG, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
- JLN MASTIKA, SIMPANG TUJUH, KOTA ALAM SHAH,
41000 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1054691 |
|
New IC No |
: |
680731-10-5060 |
|
Date of Birth |
: |
31/07/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
21/07/2011 |
|
1) |
Name of Subject |
: |
TAN CHIN SIEA |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
MELISSA YEE & CO |
|
Auditor' Address |
: |
29-2, JALAN 1/116B, KUCHAI ENTREPRENEURS' PARK,
OFF JALAN KUCHAI LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. TAY POOI HOON |
|
IC / PP No |
: |
A0250758 |
|
|
New IC No |
: |
651029-10-5818 |
|
|
Address |
: |
5, JALAN CEMPAKA 29, TAMAN CEMPAKA, 68000
AMPANG, SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
28/12/2011 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
Unsatisfied |
|
2 |
28/12/2011 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
Unsatisfied |
|
3 |
27/09/2013 |
SPECIFIC DEBENTURE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
Unsatisfied |
|
4 |
11/02/2014 |
SPECIFIC DEBENTURE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
Unsatisfied |
|
5 |
11/03/2014 |
THIRD LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
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 |
|
Overseas |
: |
YES |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
300 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading in batteries.
The Subject was established in 2011 as a specialist in sealed lead acid batteries
(SLA) and valve regulated lead acid batteries (VRLA).
The Subject's main plant which is strategically located at Jenjarom, Selangor
is equipped with a wide array of sophisticated and cutting edge machineries and
facilities. Occupying a build-up area of 24,280m2, the plant is capable of
producing 18,000 MT per year.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-31916133 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 13338 & 2493, JALAN SUKEPI, KAWASAN
PERINDUSTRIAN JENJAROM, 42600 JENJAROM, KUALA LANGAT, SELANGOR, MALAYSIA., |
|
Current Address |
: |
LOT 13338 & 2493, JALAN SUKEPI, KAWASAN
PERINDUSTRIAN JENJAROM, 42600 JENJAROM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 27th November 2015 we contacted one of the staff from the Subject and he
provided some information.
The Subject only commenced its business operation in end of 2014.
|
The Subject's turnover was nil during the
year indicate that it was inactive. As a result, we are unable to comment on
its 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 |
|||||
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
27200 : Manufacture of batteries and
accumulators |
|
|
INDUSTRY : |
ELECTRICAL & ELECTRONIC |
|
The electrical & electronics (E&E)
industry is the leading subsector in Malaysia's manufacturing sector,
contributing significantly to the country's exports (32.8 %) and employment
(27.2 %) in 2013. E&E products have been the largest traded items for
Malaysia for several decades since the industry inception in the 1960s. The
E&E industry in Malaysia is focused on strengthening the three major
ecosystems of semiconductors, solar and LED technologies. |
|
|
In the E&E subsector, production grew
more strongly by 13.3% during the first seven months of 2014 mainly driven by
electronic components, communication equipment and domestic appliances. The
output of printed circuit boards and semiconductor devices rose in line with
the growing demand for consumer electronics, particularly mobile devices, as
well as improving global PC sales. Early in 2014, global PC sales rose on a
moderating trend due to the replacement of PCs with a new operating system.
Prices of PCs are also falling, narrowing the price differential with
tablets. In contrast, the output of general-purpose machinery decreased 8.8%
on account of the decline in manufacture of air-conditioning machine as well
as lifting and handling equipment. |
|
|
Malaysia being a part of the global E&E
production network that stands to gain from the stronger growth in worldwide
semiconductor sales. In 2015, the export-oriented industries, particularly
the E&E subsector will benefit from the improvement in external
conditions in line with improving global growth. The E&E subsector is
expected to grow further driven by higher demand of semiconductors,
electronic components, communication and computer peripherals with the
upswing of global electronics demand. |
|
|
Receipts from E&E products grew at an
impressive 10.6% in the first seven months of 2014, rebounding from a
contraction of 2.9% in the corresponding period last year. The steady
improvement in the global economy, coupled with a pickup in the ICT industry
led a surge of 20.1% in export of semiconductor devices. In addition, the
robust demand for mid- to low-end smartphones and tablets, notably in
emerging markets has driven higher shipments of telecommunication equipment
and parts, which turned around with a stronger growth of 30.9% to the US,
Netherlands, Singapore and Mexico. |
|
|
According to Ministry of International
Trade and Industry, the healthy growth in the E&E sector will help boost
the country's economy. The E&E sector is important to Malaysia. Exports
of manufactured goods for September 2014 rose by 2.2 % to RM49.14 billion
compared with September 2013, driven by higher exports of E&E products.
Hence, gross exports are expected to grow 3.2% in 2015 mainly supported by
E&E. |
|
|
The growth of semiconductor will continue
to spearhead the growth of the E&E industry in Malaysia and has benefited
from the global demand in the usage of mobile devices, storage devices, and optoelectronics
(photonics, fibre optics, LEDs) and embedded technology integrated circuits,
PCBs, LEDs. The E&E industry is targeted under the National Key Economic
Areas (NKEA) to gear the nation towards high-income economy by focusing on
high-value and high-growth manufacturing activities. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
|
PROFIT/(LOSS) FROM OPERATIONS |
(1,733,100) |
(586,271) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(1,733,100) |
(586,271) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(1,733,100) |
(586,271) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
(1,007,101) |
(420,830) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
(1,007,101) |
(420,830) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(2,740,201) |
(1,007,101) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(2,740,201) |
(1,007,101) |
(420,830) |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Hire purchase |
3,881 |
2,098 |
- |
|
Term loan / Borrowing |
987,257 |
208,711 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
991,138 |
210,809 |
- |
|
|
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
22,783 |
12,721 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
22,783 |
12,721 |
- |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
33,930,342 |
13,216,186 |
4,967,692 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
33,930,342 |
13,216,186 |
4,967,692 |
|
Other debtors, deposits & prepayments |
548,105 |
13,169,869 |
- |
|
Amount due from holding company |
3,411,418 |
- |
- |
|
Cash & bank balances |
80,478 |
76,097 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,040,001 |
13,245,966 |
2,761,346 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
37,970,343 |
26,462,152 |
7,729,038 |
|
============= |
============= |
============= |
|
|
Other creditors & accruals |
62,177 |
1,948 |
- |
|
Hire purchase & lease creditors |
56,658 |
7,577 |
- |
|
Short term borrowings/Term loans |
2,323,995 |
1,420,139 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,442,830 |
1,429,664 |
241,791 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,597,171 |
11,816,302 |
2,519,555 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
35,527,513 |
25,032,488 |
7,487,247 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
20,000,000 |
20,000,000 |
5,000,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
20,000,000 |
20,000,000 |
5,000,000 |
|
Retained profit/(loss) carried forward |
(2,740,201) |
(1,007,101) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(2,740,201) |
(1,007,101) |
(420,830) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
17,259,799 |
18,992,899 |
4,579,170 |
|
Long term loans |
18,040,990 |
6,014,843 |
- |
|
Hire purchase creditors |
226,724 |
24,746 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
18,267,714 |
6,039,589 |
2,908,077 |
|
---------------- |
---------------- |
---------------- |
|
|
35,527,513 |
25,032,488 |
7,487,247 |
|
|
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||
|
Cash |
80,478 |
76,097 |
- |
|
Net Liquid Funds |
80,478 |
76,097 |
- |
|
Net Liquid Assets |
1,597,171 |
11,816,302 |
2,519,555 |
|
Net Current Assets/(Liabilities) |
1,597,171 |
11,816,302 |
2,519,555 |
|
Net Tangible Assets |
35,527,513 |
25,032,488 |
7,487,247 |
|
Net Monetary Assets |
(16,670,543) |
5,776,713 |
(388,522) |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
(741,962) |
(375,462) |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
(719,179) |
(362,741) |
- |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
20,648,367 |
7,467,305 |
- |
|
Total Liabilities |
20,710,544 |
7,469,253 |
3,149,868 |
|
Total Assets |
37,970,343 |
26,462,152 |
7,729,038 |
|
Net Assets |
35,527,513 |
25,032,488 |
7,487,247 |
|
Net Assets Backing |
17,259,799 |
18,992,899 |
4,579,170 |
|
Shareholders' Funds |
17,259,799 |
18,992,899 |
4,579,170 |
|
Total Share Capital |
20,000,000 |
20,000,000 |
5,000,000 |
|
Total Reserves |
(2,740,201) |
(1,007,101) |
(420,830) |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.03 |
0.05 |
- |
|
Liquid Ratio |
1.65 |
9.27 |
- |
|
Current Ratio |
1.65 |
9.27 |
11.42 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
- |
|
Debtors Ratio |
0 |
0 |
- |
|
Creditors Ratio |
0 |
0 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
1.20 |
0.39 |
- |
|
Liabilities Ratio |
1.20 |
0.39 |
0.69 |
|
Times Interest Earned Ratio |
(0.75) |
(1.78) |
- |
|
Assets Backing Ratio |
1.78 |
1.25 |
1.50 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0 |
0 |
- |
|
Net Profit Margin |
0 |
0 |
- |
|
Return On Net Assets |
(2.09) |
(1.50) |
(5.62) |
|
Return On Capital Employed |
(2.09) |
(1.50) |
(5.62) |
|
Return On Shareholders' Funds/Equity |
(10.04) |
(3.09) |
(9.19) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
MYR |
1 |
Rs.15.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.