|
Report No. : |
353900 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
FGV TRADING SDN. BHD. |
|
|
|
|
Registered Office : |
Menara Felda, Platinium Park, 11, Persiaran Klcc, Level 45, 50088 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
11.09.2014 |
|
|
|
|
Com. Reg. No.: |
1108816-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the trading of palm oil. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
|
Status : |
New Business |
|
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
1108816-U |
||||
|
COMPANY NAME |
: |
FGV TRADING SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
11/09/2014 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
MENARA FELDA, PLATINIUM PARK, 11, PERSIARAN KLCC, LEVEL 45, 50088
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
BALAI FELDA, JALAN GURNEY SATU, 5TH FLOOR, 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-28590000 |
||||
|
FAX.NO. |
: |
03-28590016 |
||||
|
EMAIL |
: |
FGV.ENQUIRIES@FELDAGLOBAL.COM |
||||
|
WEB SITE |
: |
FELDAGLOBAL.COM |
||||
|
CONTACT PERSON |
: |
DR. MOHD EMIR MAVANI BIN ABDULLAH ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46202 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PALM OIL |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 200,000,000.00 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 |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
POOR |
||||
|
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 palm
oil.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
24/03/2015 |
MYR 500,000,000.00 |
MYR 200,000,000.00 |
|
20/10/2014 |
MYR 400,000.00 |
MYR 2.00 |
|
11/09/2014 |
MYR 400,000.00 |
MYR 0.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DATO' KHAIRIL ANUAR BIN AZIZ + |
21, JALAN SETIABAKTI, BUKIT DAMANSARA, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
670324-08-5403 A0815143 |
1.00 |
0.00 |
|
MR. DR. MOHD EMIR MAVANI BIN ABDULLAH + |
32, JALAN PUNCAK SETIAWANGSA 3, TAMAN SETIAWANGSA, 54200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
631015-04-5377 7173861 |
1.00 |
0.00 |
|
FELDA GLOBAL VENTURES HOLDINGS SDN. BHD. |
LEVEL 42, MENARA FELDA, PLATINUM PARK, NO 11 PERSIARAN KLCC, 50088
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
800165P |
199,999,998.00 |
100.00 |
|
--------------- |
------ |
|||
|
200,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. AHMAD TIFLI BIN MOHD TALHA |
|
Address |
: |
9, JALAN PUALAM TIGA 7/32C, SEKSYEN 7, 40000 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Other Address(es) |
: |
SEK 6, SHAH ALAM S 6, KOTA ANGGERIK, 40640 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A0137167 |
|
New IC No |
: |
650627-10-6437 |
|
Date of Birth |
: |
27/06/1965 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/10/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
DATO' KHAIRIL ANUAR BIN AZIZ |
|
Address |
: |
21, JALAN SETIABAKTI, BUKIT DAMANSARA, 50490 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
- 51,LRG.SETIA BISTARI 1, DAMANSARA HEIGHT, 50490 K.LUMPUR, MALAYSIA. - RANCHANGAN KEMAJUAN TANAH, KLAH, BEHRANG, 35900 TANJONG MALIM,
PERAK, MALAYSIA. |
|
IC / PP No |
: |
A0815143 |
|
New IC No |
: |
670324-08-5403 |
|
Date of Birth |
: |
24/03/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/09/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. DR. MOHD EMIR MAVANI BIN ABDULLAH |
|
Address |
: |
32, JALAN PUNCAK SETIAWANGSA 3, TAMAN SETIAWANGSA, 54200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
32,JLN.PUNCAK, SETIAWANGSA 3, TMN.SETIAWANGSA;54200 K.L., MALAYSIA. |
|
IC / PP No |
: |
7173861 |
|
New IC No |
: |
631015-04-5377 |
|
Date of Birth |
: |
15/10/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/09/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DR. MOHD EMIR MAVANI BIN ABDULLAH |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. KOO SHUANG YEN |
|
IC / PP No |
: |
6770467 |
|
|
New IC No |
: |
620820-06-5246 |
|
|
Address |
: |
35, JALAN BU 4/9, BANDAR UTAMA DAMANSARA, 47800 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. ABD. RASHID BIN ATAN |
|
IC / PP No |
: |
6265235 |
|
|
New IC No |
: |
611001-01-5021 |
|
|
Address |
: |
JALAN BUNGA TANJUNG, KG MELAYU SUBANG, 40150 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
OPERATIONS
|
|
Goods Traded |
: |
PALM OIL |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of palm
oil.
The Subject is engage in trading of palm oil and related product.
The Subject refused to disclose further information on its business
operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-28590000 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
5TH FLOOR BALAI FELDA, JALAN GURNEY 154000 KUALA LUMPUR, |
|
Current Address |
: |
BALAI FELDA, JALAN GURNEY SATU, 5TH FLOOR, 54000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
NO |
|
|
||
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
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 |
||||||
|
|
||||||
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
|
|
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
MYR |
1 |
Rs.15.48 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.