|
Report No. : |
353170 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
OLEOCOMM GLOBAL
SDN. BHD. |
|
|
|
|
Registered Office : |
5-3,Jalan 109f,
Plaza Danau 2, Taman |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.09.2004 |
|
|
|
|
Com. Reg. No.: |
666473-X |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
Trading of oil
palm and oleochemicals. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
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. |
: |
666473-X |
||||
|
COMPANY NAME |
: |
OLEOCOMM GLOBAL SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
20/09/2004 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED
ADDRESS |
: |
5-3,JALAN 109F, PLAZA DANAU 2, TAMAN DANAU
DESA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
SUITE 3A-01, BLOCK C, PLAZA MON'T KIARA,
JALAN KIARA 1, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-23891036 |
||||
|
FAX.NO. |
: |
03-62034546 |
||||
|
HP.NO. |
: |
0126845044 |
||||
|
WEB SITE |
: |
WWW.OLEOCOMM.COM |
||||
|
CONTACT PERSON |
: |
ANUJ KAPOOR ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46202 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF OIL PALM AND OLEOCHEMICALS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
MYR 350,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 121,320,979 [2014] |
||||
|
NET WORTH |
: |
MYR 1,501,991 [2014] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
HIGH |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
MATURE |
||||
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) trading of oil palm and
oleochemicals.
The Subject is
not listed on Bursa Malaysia (Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
B-13-2,VISTA
KIARA, JALAN KIARA 3, BUKIT KIARA, 50480, WILAYAH PERSEKUTUAN, MALAYSIA |
15/02/2013 |
Share Capital
History
|
Date |
Authorised
Shared Capital |
Issue &
Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 350,000.00 |
|
24/12/2004 |
MYR 100,000.00 |
MYR 100,000.00 |
|
20/09/2004 |
MYR 100,000.00 |
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. ANUJ KAPOOR
+ |
A-25-7, VISTA
KIARA, JALAN KIARA 3, BUKIT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
Z2110196 |
175,000.00 |
50.00 |
|
RUCHITA KAPOOR
+ |
A-25-7, VISTA KIARA,
JALAN KIARA 3, BUKIT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
H2425759 |
175,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
350,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
SYED SAIFUL
ADZIM BIN SYED KHALID |
MALAYSIA |
660610-10-5445 |
105,000.00 |
21/05/2009 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. ANUJ KAPOOR |
|
Address |
: |
A-25-7, VISTA KIARA,
JALAN KIARA 3, BUKIT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP No |
: |
Z2110196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
15/03/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
RUCHITA KAPOOR |
|
Address |
: |
A-25-7, VISTA
KIARA, JALAN KIARA 3, BUKIT KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP No |
: |
H2425759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
20/09/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ANUJ KAPOOR |
|
|
Position |
: |
MANAGING
DIRECTOR |
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
ECOVIS AHL PLT
(LLP0003185-LCA) |
|
Auditor'
Address |
: |
9-3, JALAN
109F, PLAZA DANAU 2, TAMAN DANAU DESA, 58100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
MS. TEH PEI YUN |
|
|
|
|
|
|
|
New IC No |
: |
780617-10-5882 |
|
|
Address |
: |
35, JALAN PUTRI
JAYA 11, TAMAN PUTRI JAYA, 43200 CHERAS, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company
Secretary |
: |
MS. FONG WAI
MUN |
|
|
|
|
|
|
|
New IC No |
: |
720610-14-5350 |
|
|
Address |
: |
11, JALAN SS3/66,
47300 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
|
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 |
16/03/2011 |
FACILITIES
AGREEMENT |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
2 |
25/06/2015 |
N/A |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
LITIGATION CHECK
AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK
AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
|
|
||||
|
SOURCES OF RAW
MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
85% |
|
Overseas |
: |
YES |
Percentage |
: |
15% |
|
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 |
[ |
|
] |
|
Average 61-90
Days |
[ |
X |
] |
|
|
Fair 91-120
Days |
[ |
|
] |
|
Poor >120
Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
NO |
|
||
|
Overseas |
: |
YES |
Percentage |
: |
100% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
END USERS,DISTRIBUTORS,DEALERS |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
|
Goods Traded |
: |
OIL PALM AND OLEOCHEMICALS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
5 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of oil palm
and oleochemicals.
We were informed that the Subject specializes in exports of oleochemicals, oils
and fats.
The Subject's products ranges are including fatty acids, fatty alcohol, methyl
ester, soap noodles, glycerine, palm oil, palm kernal oil and others.
According to the Subject, it does not keep stocks as direclty supply the
products based on the customers' requirements.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-23891036 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
SUITE 3A-01, BLOCK C, PLAZA MON'T KIARA,
JALAN KIARA 1,50480,KUALA LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
SUITE 3A-01, BLOCK C, PLAZA MON'T KIARA,
JALAN KIARA 1, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 3rd December 2015 we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
12.31% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
13.56% |
] |
|
|
|
|
|
|
|
|
|
|
The continuous fall in turnover could be
due to the lower demand for the Subject's products / services.The dip in
profit could be due to the stiff market competition which reduced the Subject's
profit margin. The Subject's management had generated acceptable return for
its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Acceptable |
[ |
1.05 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject has an adequate liquidity
position with its current liabilities well covered by its current assets.
With its net current assets, the Subject should be able to repay its short
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Liability Ratio |
: |
Unfavourable |
[ |
16.46 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject has high liabilities ratio and
it may face financial difficulties if no additional capital is injected. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject's performance deteriorated over
the years with lower turnover and profit. The Subject was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the Subject should be able to repay its
short term obligations. The Subject's liabilities level was high and its
going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject
: FAIR |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
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 |
49,203 |
- |
|
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 |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
46202 : Wholesale of palm oil |
|
|
|
|
|
INDUSTRY : |
PALM OIL |
|
|
|
|
|
|
|
According to the Malaysian Palm Oil Council
(MPOC), Malaysia currently accounts for 39% of world palm oil production and
44% of world exports in year 2014. Malaysia is also one of the biggest
producers and exporters of oil palm and palm oil products. In the last 5
years until year 2014, Malaysia earned between RM50 billion and RM70 billion
a year from palm oil exports. |
|
|
|
|
|
Besides, the ongoing implementation of
Entry Point Projects (EPPs) under the National Key Economic Area (NKEA) on
palm oil to enhance productivity of upstream and downstream activities will
further boost the palm oil sector. Thus, palm oil sector is expected to grow
6.7% in 2014 (2013: 2.6%). Moreover, the total oil palm planted areas
increased 2.8% to 5.3 million hectares as at end-June 2014 (end-June 2013:
5.2 million hectares) following the opening of 30,544 hectares of cultivated
areas mainly in Sabah and Sarawak. Other than that, the production of palm
oil is expected to growth by 1.6% (19.52 million tonnes) in year 2014,
compared to 19.22 million tonnes in year 2013. |
|
|
|
|
|
According to Kenanga Research, the
estimated average crude palm oil (CPO) price for 2014 and 2015 is between
RM2,100 and RM2,500 per tonne due to lower inventory estimate by end-2015.
The estimated prices also lifted by factors such as biofuel demand and
petroleum price level. But, the average price of crude palm oil (CPO)
strengthened to RM2,542 per tonne during the first eight months of 2014
(January - August 2013: Rm2,309 per tonne). However, with production rising
in the second quarter coupled with high inventory level (end-August 2014: 2.1
million tonnes), the price of CPO moderated to RM2,162 per tonne as at
end-August 2014, and hitting a five-year low of RM1,914 per tonne in Sept
2014 as stockpiles surged to a more than 1 year high above 2 million tonnes.
The moderation in CPO prices was also due to a surge in global supplies of
edible oil, particularly the bumper harvest of soybean in the US. |
|
|
|
|
|
Over the total exports of major products in
year 2013, palm oil accounts 6.4% of share in the total exports. During the
first seven months of 2014, export receipts of palm oil rebounded by 4.9% to
RM25.8 billion (January - July 2013: -21.9%, RM 24.6 billion) due to higher
export prices averaging RM 2,703 per tonne (January - July 2013: Rm 2,456 per
tonne). As a measure to reduce the high inventory due to strong output, the
Government has exempted export tax on CPO until December 2014. The
Government's move to extend the export duty exemption for crude palm oil
(CPO) has received positive reaction from industry players. The chairman of
Malaysian Palm Oil Board (MPOB) said the move provided a stable effect on the
CPO market prices. |
|
|
|
|
|
In Budget 2015, there is an allocation of
RM41 million for smallholders to plant and replant oil palm. The incentives
for commodities announced in Budget 2015 will help alleviate the problems
faced by the industry, especially the poor prices for rubber and palm oil. |
|
|
|
|
|
According to the Minister of Plantation
Industries and Commodities, the Malaysian government will increase the amount
of palm oil based bio-diesel in the national diesel supply mix from November
2014, in a move that will also help to increase consumption of crude palm oil
(CPO) and reduce stockpile levels of the commodity. The implementation of the
B7 blend will also increase the use palm oil which prices have softened due
to oversupply in the market. According to the Malaysian Palm Oil Council
(MPOC), CPO prices are expected to improve to between RM2,100 and RM2,500 in
year 2015, lifted by factors such as biofuel demand from the B7 programme.
CIMB Research estimates that the rollout could raise the country's palm oil
demand by 263,000-390,000 tonnes per annum, or 1-2% of the total palm oil
production in 2013. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Mature |
|
CREDIT RISK
EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS
ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
OLEOCOMM GLOBAL SDN. BHD. |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
SUMMARY |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
121,320,979 |
124,352,993 |
192,155,570 |
258,150,566 |
211,919,394 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
121,320,979 |
124,352,993 |
192,155,570 |
258,150,566 |
211,919,394 |
|
Costs of Goods Sold |
- |
(123,079,919) |
(190,555,852) |
(256,848,374) |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
- |
1,273,074 |
1,599,718 |
1,302,192 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
264,746 |
309,970 |
495,940 |
584,437 |
535,142 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
264,746 |
309,970 |
495,940 |
584,437 |
535,142 |
|
Taxation |
(79,900) |
(61,554) |
(114,440) |
(110,020) |
(114,738) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
184,846 |
248,416 |
381,500 |
474,417 |
420,404 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
1,442,408 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
1,442,408 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,151,991 |
2,967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(2,000,000) |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,151,991 |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Hire purchase |
- |
- |
- |
7,490 |
- |
|
Term loan / Borrowing |
- |
- |
- |
17,650 |
- |
|
Others |
- |
26,189 |
29,577 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
26,189 |
29,577 |
25,140 |
- |
|
|
- |
============= |
============= |
============= |
- |
|
|
|
|
|
|
|
|
DEPRECIATION (as per notes to P&L) |
- |
44,510 |
47,298 |
45,826 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
44,510 |
47,298 |
45,826 |
- |
|
|
============= |
============= |
============= |
============= |
|
BALANCE SHEET
|
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
710,173 |
754,350 |
798,230 |
833,380 |
170,102 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
710,173 |
754,350 |
798,230 |
833,380 |
170,102 |
|
|
|
|
|
|
|
|
Trade debtors |
- |
20,174,252 |
50,016,908 |
37,836,731 |
- |
|
Other debtors, deposits & prepayments |
- |
104,548 |
228,817 |
67,747 |
- |
|
Cash & bank balances |
- |
8,703,916 |
3,580,436 |
280,972 |
- |
|
Others |
- |
15,446 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
25,511,315 |
28,998,162 |
53,826,161 |
38,185,450 |
54,836,601 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
26,221,488 |
29,752,512 |
54,624,391 |
39,018,830 |
55,006,703 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
25,641,915 |
50,449,750 |
35,175,503 |
- |
|
Other creditors & accruals |
- |
2,066,759 |
145,928 |
64,611 |
- |
|
Hire purchase & lease creditors |
- |
33,859 |
36,662 |
34,718 |
- |
|
Short term borrowings/Term loans |
- |
18,748 |
17,924 |
17,137 |
- |
|
Amounts owing to director |
- |
176,969 |
295,861 |
306,202 |
- |
|
Provision for taxation |
- |
- |
59,440 |
124,432 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
24,268,418 |
27,938,250 |
51,005,565 |
35,722,603 |
52,656,345 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,242,897 |
1,059,912 |
2,820,596 |
2,462,847 |
2,180,256 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,953,070 |
1,814,262 |
3,618,826 |
3,296,227 |
2,350,358 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
1,151,991 |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
1,151,991 |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,501,991 |
1,317,145 |
3,068,729 |
2,687,229 |
2,212,812 |
|
|
|
|
|
|
|
|
Long term loans |
- |
468,765 |
487,887 |
506,170 |
- |
|
Hire purchase creditors |
- |
28,352 |
62,210 |
102,828 |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
451,079 |
497,117 |
550,097 |
608,998 |
137,546 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,953,070 |
1,814,262 |
3,618,826 |
3,296,227 |
2,350,358 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
- |
8,703,916 |
3,580,436 |
280,972 |
- |
|
Net Liquid Funds |
- |
8,703,916 |
3,580,436 |
280,972 |
- |
|
Net Liquid Assets |
1,242,897 |
1,059,912 |
2,820,596 |
2,462,847 |
2,180,256 |
|
Net Current Assets/(Liabilities) |
1,242,897 |
1,059,912 |
2,820,596 |
2,462,847 |
2,180,256 |
|
Net Tangible Assets |
1,953,070 |
1,814,262 |
3,618,826 |
3,296,227 |
2,350,358 |
|
Net Monetary Assets |
791,818 |
562,795 |
2,270,499 |
1,853,849 |
2,042,710 |
|
PROFIT & LOSS ITEMS |
|
|
|
|
|
|
Earnings Before Interest & Tax (EBIT) |
- |
336,159 |
525,517 |
609,577 |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
- |
380,669 |
572,815 |
655,403 |
- |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
- |
549,724 |
604,683 |
660,853 |
- |
|
Total Liabilities |
24,719,497 |
28,435,367 |
51,555,662 |
36,331,601 |
52,793,891 |
|
Total Assets |
26,221,488 |
29,752,512 |
54,624,391 |
39,018,830 |
55,006,703 |
|
Net Assets |
1,953,070 |
1,814,262 |
3,618,826 |
3,296,227 |
2,350,358 |
|
Net Assets Backing |
1,501,991 |
1,317,145 |
3,068,729 |
2,687,229 |
2,212,812 |
|
Shareholders' Funds |
1,501,991 |
1,317,145 |
3,068,729 |
2,687,229 |
2,212,812 |
|
Total Share Capital |
350,000 |
350,000 |
350,000 |
350,000 |
350,000 |
|
Total Reserves |
1,151,991 |
967,145 |
2,718,729 |
2,337,229 |
1,862,812 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
- |
0.31 |
0.07 |
0.01 |
- |
|
Liquid Ratio |
- |
1.04 |
1.06 |
1.07 |
- |
|
Current Ratio |
1.05 |
1.04 |
1.06 |
1.07 |
1.04 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
- |
0 |
0 |
0 |
- |
|
Debtors Ratio |
- |
59 |
95 |
53 |
- |
|
Creditors Ratio |
- |
76 |
97 |
50 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
- |
0.42 |
0.20 |
0.25 |
- |
|
Liabilities Ratio |
16.46 |
21.59 |
16.80 |
13.52 |
23.86 |
|
Times Interest Earned Ratio |
- |
12.84 |
17.77 |
24.25 |
- |
|
Assets Backing Ratio |
5.58 |
5.18 |
10.34 |
9.42 |
6.72 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
0.22 |
0.25 |
0.26 |
0.23 |
0.25 |
|
Net Profit Margin |
0.15 |
0.20 |
0.20 |
0.18 |
0.20 |
|
Return On Net Assets |
13.56 |
18.53 |
14.52 |
18.49 |
22.77 |
|
Return On Capital Employed |
13.56 |
18.19 |
14.38 |
18.30 |
22.77 |
|
Return On Shareholders' Funds/Equity |
12.31 |
18.86 |
12.43 |
17.65 |
19.00 |
|
Dividend Pay Out Ratio (Times) |
- |
8.05 |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
- |
0 |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
|
MYR |
1 |
Rs.15.68 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMT |
|
|
|
|
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.