|
Report No. : |
355179 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN LATITUDE SDN. BHD. |
|
|
|
|
Registered Office : |
Lot 515, Block A, Kelana Business Centre, 97, Jalan Ss7/2, Kelana
Jaya,, 47301 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2000 |
|
|
|
|
Date of Incorporation : |
25.03.1998 |
|
|
|
|
Com. Reg. No.: |
459866-P |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Trading in sawn timber |
|
|
|
|
No. of Employee : |
10 [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 : |
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. |
: |
459866-P |
||||
|
COMPANY
NAME |
: |
GOLDEN LATITUDE SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
25/03/1998 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
LOT
515, BLOCK A, KELANA BUSINESS CENTRE, 97, JALAN SS7/2, KELANA JAYA,, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
13B,
JALAN ANGGERIK VANILLA P31/P, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51211376 |
||||
|
FAX.NO. |
: |
03-51212135 |
||||
|
CONTACT
PERSON |
: |
PUAH
YOW TONG ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46631 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
IN SAWN TIMBER |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
500,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
300,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
10
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
HIGH |
||||
|
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) trading in sawn timber.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Former
Address(es)
|
Address |
As
At Date |
|
63A,JALAN
SS 21/37, DAMANSARA UTAMA, 47400, SELANGOR, MALAYSIA |
15/02/2013 |
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
15/02/2013 |
MYR
500,000.00 |
MYR
300,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
PUAH YOW TONG + |
23,
JALAN ANGGERIK ERIA 31/109, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
531112-10-5521
4557200 |
105,000.00 |
35.00 |
|
MS.
TAM SIOK TEE + |
23,
JALAN ANGGERIK ERIA 31/109, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
580621-10-5424
5486581 |
105,000.00 |
35.00 |
|
MS.
TAN SIOK LING + |
49,
JALAN KELAB GOLF 13/6, SECTION 13, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
691202-10-5018
A1346725 |
90,000.00 |
30.00 |
|
--------------- |
------ |
|||
|
300,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
MS.
TAN SIOK LING |
|
Address |
: |
49,
JALAN KELAB GOLF 13/6, SECTION 13, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Other
Address(es) |
: |
BT
14 KAPAR, KAMPUNG SUNGAI SERDANG, SEMENTA, 42200 KAPAR, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
A1346725 |
|
New
IC No |
: |
691202-10-5018 |
|
Date
of Birth |
: |
02/12/1969 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/10/1999 |
DIRECTOR
2
|
Name
Of Subject |
: |
MS.
TAM SIOK TEE |
|
Address |
: |
23,
JALAN ANGGERIK ERIA 31/109, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Other
Address(es) |
: |
TMN
PAIK SIONG, BATU 7 JALAN PUCHONG, KINRARA, 46160 PUCHONG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
5486581 |
|
New
IC No |
: |
580621-10-5424 |
|
Date
of Birth |
: |
21/06/1958 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
25/03/1998 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
PUAH YOW TONG |
|
Address |
: |
23,
JALAN ANGGERIK ERIA 31/109, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Other
Address(es) |
: |
JLN
SS 24/22, SS 24, DAMANSARA UTAMA, PETALING JAYA UTARA, MALAYSIA. |
|
IC
/ PP No |
: |
4557200 |
|
New
IC No |
: |
531112-10-5521 |
|
Date
of Birth |
: |
12/11/1953 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
25/03/1998 |
|
1) |
Name
of Subject |
: |
PUAH
YOW TONG |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
SHA,TAN
& CO |
|
Auditor'
Address |
: |
4.122-4.125,
WISMA CENTRAL, JALAN AMPANG, 4TH FLOOR, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
1) |
Company
Secretary |
: |
MR.
LIM KOK HENG |
|
IC
/ PP No |
: |
8117090 |
|
|
New
IC No |
: |
530406-10-5071 |
|
|
Address |
: |
169AC,
JALAN DELIMA, OFF JALAN KAPAR, 41400 KLANG, SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HONG
LEONG BANK BHD |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
19/12/2005 |
N/A |
HONG
LEONG 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 |
: |
YES |
Percentage |
: |
100% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Goods
Traded |
: |
SAWN
TIMBER |
|||||
|
Competitor(s) |
: |
KPS
PLYWOOD SDN BHD |
|||||
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2011 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
10 |
10 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading in sawn
timber.
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 |
: |
03-51211376 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
13B,
JALAN ANGGERIK VANILLA P31/P, KOTA KEMUNING,40460,SHAH ALAM,SELANGOR. |
|
Current
Address |
: |
13B,
JALAN ANGGERIK VANILLA P31/P, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
NO |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and he only provided limited
information.
|
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 |
||||||
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 |
|||||
|
MSIC
CODE |
|
|
46631
: Wholesale of logs, sawn timber, plywood, veneer and related products |
|
|
INDUSTRY
: |
TRADING |
|
The wholesale and retail trade is expected
to increase 7.1% in 2015 (2014: 7.7%) driven by strong domestic consumption
and higher tourist arrivals following the Malaysia Year of Festivals 2015. Besides,
in 2014, the wholesale and retail trade subsector is expected to increase
7.7% (2013: 6.4%) supported by strong domestic consumption. |
|
|
According to Retail Group Malaysia (RGM), the
pharmacy and personal care sub-sector had slow growth rate of 2.6% for the
first quarter of 2014, while "other specialty stores" grew at a
rate of 3.5%. During the first quarter of 2014, fashion and fashion
accessories recorded a sustainable growth of 6.3% as compared with the same
period last year (3.6%). |
|
|
The retail segment increased 10.1% (January
- June 2013: 7.1%) attributed to brisk sales in retail outlets such as
hypermarkets and large-scale superstores. Since the launch of the Small Retailer
Transformation programme (TUKAR) in January 2011 up to end-July 2014, 1,761
small retailer stores (end-July 2013: 1,381) have been modernized to improve
their competitiveness. In addition, the strong growth of the retail segment
was supported by 1Malaysia Unified Sales held from 29 June 2014 to 1
September 2014 to attract foreign and local tourists to shop in Malaysia.
Meanwhile, the wholesale segment expanded 8.2% (January - June 2013: 4.9%)
due to higher sales of non-agricultural intermediate products, such as
petrol, diesel, lubricants and household goods. Furthermore, food and
beverage outlets, laundry outlets, car wash centres, abd health and beauty
outlets took a hit from the water rationing in the Klang Valley since
February this year. |
|
|
On the other hand, in 2014, Malaysia's
total trade is expected to grow 5.2% to RM1.44 trillion (2013: 4.5%; RM1.37
trillion) underpinned by recovery in key advanced economies, resilient
regional demand, and partly due to the base effect arising from sluggish
exports in the corresponding period last year. Gross exports are anticipated
to expand 6% to RM762.8 billion while import decreased 4.3% to RM677.2
billion (2013: 2.4%; RM719.8 billion; 7%; RM 649.1 billion). Consequently,
the trade surplus is expected to be higher at RM85.6 billion or 7.9% of GDP
in 2014 (2013: RM70.7 billion; 7.2%). |
|
|
Furthermore, gross exports rebounded by
10.7% to RM441.3 billion during the first seven months of 2014 (January -
July 2013: -2.8%; RM398.5 billion), with manufactured and mining exports
rising at a double digit pace of 11.4% and 12.5%. Shipment of agriculture
products grew at a slower pace of 2.7%, primarily due to lower receipts of
crude rubber (-24.6%) while export growth of other commodities remained
steady. Consequently, exports of manufactured and mining products are
expected to grow 6.1% and 6.4% in 2014 (2013: 5.1%; 3.3%). Meanwhile,
agriculture exports are expected to rebound sharply by 4.5% in 2014 (2013:
-14.4%) despite moderating commodity prices. Malaysia's top 3 trading
partners are China, Singapore, and Japan. |
|
|
Over 60% of Gross Domestic Product (GDP) is
contributed by domestic consumption. Therefore the wholesale and retail sector
plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL
INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 1998, the Subject is an Exempt
Private company, focusing on trading in sawn timber. Having been in the
industry for over a decade, the Subject has achieved a certain market share
and has built up a satisfactory reputation in the market. It should have
received supports from its regular customers. With an issued and paid up
capital of MYR 300,000 contributed by individual shareholders, the Subject
may face difficulties in its attempt to further expand its business in the
future. Thus, the Subject should put more efforts on its business to gain
higher market share while competing aggressively in the market.
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
GOLDEN
LATITUDE SDN. BHD. |
|
Financial
Year End |
2000-12-31 |
1999-12-31 |
|
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 |
7,821,295 |
1,909,865 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
7,821,295 |
1,909,865 |
|
---------------- |
---------------- |
|
|
Gross
Profit |
7,821,295 |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
29,372 |
14,730 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
29,372 |
14,730 |
|
Taxation |
- |
(5,196) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
29,372 |
9,534 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
29,372 |
9,534 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
29,372 |
9,534 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
9,534 |
- |
|
---------------- |
---------------- |
|
|
As
restated |
9,534 |
- |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
38,906 |
9,534 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
38,906 |
9,534 |
|
============= |
============= |
|
|
GOLDEN
LATITUDE SDN. BHD. |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
185,045 |
23,515 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
185,045 |
23,515 |
|
TOTAL
CURRENT ASSETS |
1,312,891 |
742,243 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,497,936 |
765,758 |
|
============= |
============= |
|
|
TOTAL
CURRENT LIABILITIES |
1,088,599 |
453,628 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
224,292 |
288,615 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
409,337 |
312,130 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
300,000 |
300,000 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
300,000 |
300,000 |
|
Retained
profit/(loss) carried forward |
38,906 |
9,534 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
38,906 |
9,534 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
338,906 |
309,534 |
|
TOTAL
LONG TERM LIABILITIES |
70,431 |
2,596 |
|
---------------- |
---------------- |
|
|
409,337 |
312,130 |
|
|
============= |
============= |
|
|
GOLDEN
LATITUDE SDN. BHD. |
|
TYPES
OF FUNDS |
||
|
Net
Liquid Assets |
224,292 |
288,615 |
|
Net
Current Assets/(Liabilities) |
224,292 |
288,615 |
|
Net
Tangible Assets |
409,337 |
312,130 |
|
Net
Monetary Assets |
153,861 |
286,019 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Liabilities |
1,159,030 |
456,224 |
|
Total
Assets |
1,497,936 |
765,758 |
|
Net
Assets |
409,337 |
312,130 |
|
Net
Assets Backing |
338,906 |
309,534 |
|
Shareholders'
Funds |
338,906 |
309,534 |
|
Total
Share Capital |
300,000 |
300,000 |
|
Total
Reserves |
38,906 |
9,534 |
|
LIQUIDITY
(Times) |
||
|
Current
Ratio |
1.21 |
1.64 |
|
SOLVENCY
RATIOS (Times) |
||
|
Liabilities
Ratio |
3.42 |
1.47 |
|
Assets
Backing Ratio |
1.36 |
1.04 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
0.38 |
0.77 |
|
Net
Profit Margin |
0.38 |
0.50 |
|
Return
On Net Assets |
7.18 |
4.72 |
|
Return
On Capital Employed |
7.18 |
4.72 |
|
Return
On Shareholders' Funds/Equity |
8.67 |
3.08 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
MYR |
1 |
Rs. 15.46 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.