|
Report No. : |
353161 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUMBERMAN SDN. BHD. |
|
|
|
|
Registered Office : |
55 Medan Sepadu, Jalan Abang Galau, 1st Floor, 97000 Bintulu, Sarawak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2002 |
|
|
|
|
Date of Incorporation : |
06.09.1994 |
|
|
|
|
Com. Reg. No.: |
314621-M |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Manufacturing of dried veneer for furniture use, mainly for making
bentwood |
|
|
|
|
No. of Employee : |
30 - Group [2015] |
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. 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. |
: |
314621-M |
||||
|
COMPANY
NAME |
: |
LUMBERMAN
SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
06/09/1994 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
55
MEDAN SEPADU, JALAN ABANG GALAU, 1ST FLOOR, 97000 BINTULU, SARAWAK, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
736B,
TAMAN ENCORICH, JALAN TANJONG BATU,, 97000 BINTULU, SARAWAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
086-333055 |
||||
|
FAX.NO. |
: |
086-336603 |
||||
|
HP.NO. |
: |
0138341750 |
||||
|
CONTACT
PERSON |
: |
YU
CHANG PING ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
16 |
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
OF DRIED VENEER FOR FURNITURE USE, MAINLY FOR MAKING BENTWOOD |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
100,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
30
- GROUP [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN
|
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
N/A |
||||
|
CURRENCY
EXPOSURE |
: |
N/A |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
The Subject is an exempt private company
which is allowed to have a minimum of two and a maximum of twenty shareholders
and all the shareholders must be individuals. An exempt company is a type of
private limited company. 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, suing or be sued by other companies. The
Subject is governed by the Companies Act, 1965 and must file in its annual
return. The Subject need not file in its financial statements but it has to
file in a document duly signed by its director in charge of its finance, the
secretary and its auditor stating that the Subject is able to meet all its
obligations as and when they fall due. Although the Subject is not required to
file in its financial statements, it also has to prepare its financial account
which must be presented at the Annual General Meeting.
The Subject is principally engaged in the (as
a / as an) manufacturing of dried veneer for furniture use, mainly for making
bentwood.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
15/01/2013 |
MYR
100,000.00 |
MYR
100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
YU CHANG PING + |
736B,
TAMAN ENCORICH, JALAN TANJUNG BATU, 97000 BINTULU, SARAWAK, MALAYSIA. |
741120-13-5355
K0442102 |
99,000.00 |
99.00 |
|
MS.
LAU MEE HIONG + |
8-B,
LORONG MANGGIS, 96000 SIBU, SARAWAK, MALAYSIA. |
730815-13-5200
K0338995 |
1,000.00 |
1.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
MS.
LAU MEE HIONG |
|
Address |
: |
8-B,
LORONG MANGGIS, 96000 SIBU, SARAWAK, MALAYSIA. |
|
Other
Address(es) |
: |
-
NO. 312A,, JALAN DURIAN TEMBAGA,, JALAN TANJONG BATU,, 97000 BINTULU, SARAWAK,
MALAYSIA. -
TG BATU RD, TANJUNG BATU, KIDURONG, 97000 BINTULU, SARAWAK, MALAYSIA. |
|
IC
/ PP No |
: |
K0338995 |
|
New
IC No |
: |
730815-13-5200 |
|
Date
of Birth |
: |
15/08/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
17/12/1997 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
YU CHANG PING |
|
Address |
: |
736B,
TAMAN ENCORICH, JALAN TANJUNG BATU, 97000 BINTULU, SARAWAK, MALAYSIA. |
|
Other
Address(es) |
: |
-
NO. 312A,, JALAN DURIAN TEMBAGA,, JALAN TANJONG BATU,, 97000 BINTULU,
SARAWAK, MALAYSIA. -
53,2ND FLR MEDAN SEPADU, JALAN ABANG GALAU, 97000 BINTULU, SARAWAK, MALAYSIA. |
|
IC
/ PP No |
: |
K0442102 |
|
New
IC No |
: |
741120-13-5355 |
|
Date
of Birth |
: |
20/11/1974 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
12/12/1994 |
|
1) |
Name
of Subject |
: |
YU
CHANG PING |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
HII
& LEE |
|
Auditor'
Address |
: |
1,
LORONG PAHLAWAN 7A2, JALAN PAHLAWAN, 2ND FLOOR, 96000 SIBU, SARAWAK,
MALAYSIA. |
|
1) |
Company
Secretary |
: |
MS.
MAU SU NI |
|
New
IC No |
: |
800901-13-5160 |
|
|
Address |
: |
41,
TAMAN ISTIWAJAR, JALAN TANJUNG BATU, 97000 BINTULU, SARAWAK, MALAYSIA. |
|
|
2) |
Company
Secretary |
: |
MS.
WONG LAH SIANG |
|
IC
/ PP No |
: |
K716912 |
|
|
New
IC No |
: |
600905-13-5196 |
|
|
Address |
: |
139,
BEVERLY HILLS ESTATE, JALAN TUN HUSSEIN ONN, 97000 BINTULU, SARAWAK,
MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD
CHARTERED BANK MALAYSIA BHD |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
11/08/2010 |
N/A |
PUBLIC
BANK BERHAD |
- |
Unsatisfied |
|
2 |
21/03/2014 |
N/A |
PUBLIC
BANK BERHAD |
- |
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 |
: |
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 |
: |
|
|
|
Total
Number of Employees: |
||
|
YEAR |
2015 |
|
|
GROUP |
30 |
|
|
COMPANY |
n/a |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of dried
veneer for furniture use, mainly for making bentwood.
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 |
: |
086-333055 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
312
A JALAN DURIAN TEMBAGA, TG BATU 97000 BINTULU SARWAK |
|
Current
Address |
: |
736B,
TAMAN ENCORICH, JALAN TANJONG BATU,, 97000 BINTULU, SARAWAK, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
NO |
Other
Investigations
We contacted one of the Subject's Director mr YU CHANG PING on his mobile at 0138341750
but he refused to disclose any information on the Subject.
He refused to disclose the number of employees and bankers.
|
The
Subject is a private exempt company which does not need to file in its
accounts with the Registrar of Companies for the information of the public.
Therefore, 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 |
30.0 |
30.5 |
|
Gross
Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
4.7 |
|
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 |
82,480 |
85,258 |
|
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 |
3.2 |
|
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 |
44.0 |
44.2 |
|
Tourist
Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
27.4 |
29.4 |
|
Hotel
Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
63.6 |
58.8 |
|
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) |
1.0 |
0.7 |
0.7 |
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 |
5.3 |
|
Electrical
& Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
7.9 |
|
Rubber
Products |
20.7 |
3.0 |
11.7 |
(0.3) |
3.4 |
|
Wood
Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
7.1 |
|
Textiles
& Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
7.2 |
|
Domestic-oriented
Industries |
10.7 |
1.7 |
6.8 |
9.4 |
3.3 |
|
Food,
Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
8.90 |
|
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 |
3.6 |
|
Non-metallic
Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
7.2 |
|
Transport
Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
7.6 |
|
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 |
|
|
16
: MANUFACTURE OF WOOD AND OF PRODUCTS OF WOOD AND CORK, EXCEPT FURNITURE; MANUFACTURE
OF ARTICLES OF STRAW AND PLAITING MATERIALS |
|
|
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 1994, the Subject is an
Exempt Private company, focusing on manufacturing of dried veneer for
furniture use, mainly for making bentwood. 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. Being a
small company with an issued and a paid up capital of MYR 100,000 contributed
from individual shareholders, the Subject does not have strong shareholders'
backing. Without a strong backing, the Subject may face difficulties in its
attempt to further expand its business in the future.
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
Financial
Year End |
2002-12-31 |
2001-12-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
|
TURNOVER |
3,161,469 |
3,496,459 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
3,161,469 |
3,496,459 |
|
---------------- |
---------------- |
|
|
Gross
Profit |
3,161,469 |
3,496,459 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
32,822 |
(47,367) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
32,822 |
(47,367) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
32,822 |
(47,367) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
32,822 |
(47,367) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
32,822 |
(47,367) |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
(70,332) |
(103,154) |
|
---------------- |
---------------- |
|
|
As
restated |
(70,332) |
(103,154) |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(37,510) |
(150,521) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(37,510) |
(150,521) |
|
============= |
============= |
|
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
5,662 |
12,360 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
5,662 |
12,360 |
|
TOTAL
CURRENT ASSETS |
252,215 |
218,126 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
257,877 |
230,486 |
|
============= |
============= |
|
|
TOTAL
CURRENT LIABILITIES |
227,502 |
233,640 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
24,713 |
(15,514) |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
30,375 |
(3,154) |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
100,000 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
100,000 |
100,000 |
|
Retained
profit/(loss) carried forward |
(70,332) |
(103,154) |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(70,332) |
(103,154) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
29,668 |
(3,154) |
|
TOTAL
LONG TERM LIABILITIES |
707 |
- |
|
---------------- |
---------------- |
|
|
30,375 |
(3,154) |
|
|
============= |
============= |
|
|
TYPES
OF FUNDS |
||
|
Net
Liquid Assets |
24,713 |
(15,514) |
|
Net
Current Assets/(Liabilities) |
24,713 |
(15,514) |
|
Net
Tangible Assets |
30,375 |
(3,154) |
|
Net
Monetary Assets |
24,006 |
(15,514) |
|
BALANCE
SHEET ITEMS |
||
|
Total
Liabilities |
228,209 |
233,640 |
|
Total
Assets |
257,877 |
230,486 |
|
Net
Assets |
30,375 |
(3,154) |
|
Net
Assets Backing |
29,668 |
(3,154) |
|
Shareholders'
Funds |
29,668 |
(3,154) |
|
Total
Share Capital |
100,000 |
100,000 |
|
Total
Reserves |
(70,332) |
(103,154) |
|
LIQUIDITY
(Times) |
||
|
Current
Ratio |
1.11 |
0.93 |
|
SOLVENCY
RATIOS (Times) |
||
|
Liabilities
Ratio |
7.69 |
(74.08) |
|
Assets
Backing Ratio |
0.30 |
(0.03) |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
1.04 |
(1.35) |
|
Net
Profit Margin |
1.04 |
(1.35) |
|
Return
On Net Assets |
108.06 |
1,501.81 |
|
Return
On Capital Employed |
108.06 |
1,501.81 |
|
Return
On Shareholders' Funds/Equity |
110.63 |
1,501.81 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
MYR |
1 |
Rs. 15.91 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.