|
Report No. : |
354100 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
|
|
|
|
Registered Office : |
Lot 20-ACD, Menara Pandan B, Persiaran Mpaj, Jalan Pandan Utama,
Pandan Indah, Level 5, 55100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
21.06.2005 |
|
|
|
|
Com. Reg. No.: |
700621-H |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Trading of timber |
|
|
|
|
No. of Employee : |
4 [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 : |
Moderator |
|
|
|
|
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. |
: |
700621-H |
||||
|
COMPANY
NAME |
: |
WORLDWIDE
CULTURE RESOURCES SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
21/06/2005 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
LOT
20-ACD, MENARA PANDAN B, PERSIARAN MPAJ, JALAN PANDAN UTAMA, PANDAN INDAH,
LEVEL 5, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
15-2,
JALAN KUCHAI MAJU 11, KUCHAI ENTREPRENEURS PARK OFF JALAN KUCHAI LAMA, 1ST FLOOR,
58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-79834037 |
||||
|
FAX.NO. |
: |
03-79834027 |
||||
|
CONTACT
PERSON |
: |
VIVIEN
CHAN SWEE KHENG ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46631 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF TIMBER |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
500,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
410,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
17,332,541 [2014] |
||||
|
NET
WORTH |
: |
MYR
240,117 [2014] |
||||
|
STAFF
STRENGTH |
: |
4
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
HIGH |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
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 timber.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Former
Address(es)
|
Address |
As
At Date |
|
PANGLOBAL
BUSINESS CENTRE, LEVEL 19,MENARA PANGLOBAL, 8 LORONG P.RAMLEE, 50250, 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
410,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MS.
VIVIEN CHAN SWEE KHENG + |
2,
JALAN SRI PETALING 8, BANDAR BARU SRI PETALING, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
730424-11-5026 |
205,000.00 |
50.00 |
|
MR.
CHONG THAI RON + |
114,
JALAN NAKHODA 12, TAMAN UNGKU TUN AMINAH, 81300 SKUDAI, JOHOR, MALAYSIA. |
680124-01-6269
A0935617 |
205,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
410,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
Former
Shareholder(s) :
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
DANNY
CHAN OOI TAT |
MALAYSIA |
750919-11-5077 |
N/A |
N/A |
DIRECTOR 1
|
Name
Of Subject |
: |
MS.
VIVIEN CHAN SWEE KHENG |
|
Address |
: |
2,
JALAN SRI PETALING 8, BANDAR BARU SRI PETALING, 57000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
Other
Address(es) |
: |
-
78/1-H,JALAN AIR JERNIH, 20800 KUALA TERENGGANU, MALAYSIA. -
A-8-4, ABADI VILLA CONDO, TAMAN ABADI INDAH, OFF JALAN KLANG LAMA, 58100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New
IC No |
: |
730424-11-5026 |
|
Date
of Birth |
: |
24/04/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
21/06/2005 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
CHONG THAI RON |
|
Address |
: |
114,
JALAN NAKHODA 12, TAMAN UNGKU TUN AMINAH, 81300 SKUDAI, JOHOR, MALAYSIA. |
|
Other
Address(es) |
: |
D-2-31,JALAN
KUCHAI MAJU 1, KUCHAI ENTREPRENEURS,S PARK, OFF JALAN KUCHAI LAMA, 58200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC
/ PP No |
: |
A0935617 |
|
New
IC No |
: |
680124-01-6269 |
|
Date
of Birth |
: |
24/01/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
23/11/2012 |
|
1) |
Name
of Subject |
: |
VIVIEN
CHAN SWEE KHENG |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
CWC
& COMPANY |
|
Auditor'
Address |
: |
112-1,
JALAN RAJA PERMAISURI BAINUN, 1ST FLOOR, 30250 IPOH, PERAK, MALAYSIA. |
|
1) |
Company
Secretary |
: |
MR.
FAM SENG CHOY |
|
IC
/ PP No |
: |
A0656836 |
|
|
New
IC No |
: |
670325-14-5041 |
|
|
Address |
: |
P-A-12A,
DAHLIA APARTMENT, JALAN PANDAN INDAH 24,, PANDAN INDAH,, 55100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN
BANKING BHD |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
27/09/2006 |
MEMO
OF DEPOSIT OF FIXED DEPOSIT, LETTER OF SET-OFF AND FACILITY AGREEMENT |
MALAYAN
BANKING BERHAD |
MYR
1,000,000.00 |
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 |
: |
YES |
Percentage |
: |
100% |
|
Overseas |
: |
NO |
Percentage |
: |
0% |
|
Local |
: |
YES |
Percentage |
: |
10% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
90% |
|
Export
Market |
: |
CHINA |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Type
of Customer |
: |
DISTRIBUTORS |
|||
|
Goods
Traded |
: |
TIMBER
PRODUCTS |
|
|
Competitor(s) |
: |
INOVWOOD
SDN BHD |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
4 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of
timber.
The Subject's products ranges are including Merbau Sawn Timber Flithces {Band
Saw Cutting], Acacia Rough Sawn Timber, Kempas, Balau and others.
Besides that the Subject also provides timbers sourcing and consultancy
services for import / export, forwarding and related matters.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-79834037 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
NO
15-2 JALAN KUCHAI MAJU 11, OFF JALAN KUCHAI LAMA KUCHAI ENTREPRENEURS PARK,
58200 KUALALUMPUR W PERSEKUTUAN |
|
Current
Address |
: |
15-2,
JALAN KUCHAI MAJU 11, KUCHAI ENTREPRENEURS PARK OFF JALAN KUCHAI LAMA, 1ST
FLOOR, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
15.72% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
8.80% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the Subject's
products / services.The Subject's management have been efficient in
controlling its operating costs. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Liquidity |
||||||
|
Current
Ratio |
: |
Acceptable |
[ |
1.24
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 |
[ |
19.79
Times |
] |
|
|
The
Subject has high liabilities ratio and it may face financial difficulties if
no additional capital is injected. |
||||||
|
Overall
Assessment : |
||||||
|
Due
to the efficient control of its operating costs, the Subject was able to
remain profitable despite lower turnover achieved during the year. 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 |
||||||
|
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 2005, the Subject is a Private
Limited company, focusing on trading of 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. Being a small company with an issued and
a paid up capital of MYR 410,000 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) |
|
WORLDWIDE
CULTURE RESOURCES SDN. BHD. |
|
Financial
Year End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
17,332,541 |
18,600,151 |
27,817,382 |
33,160,034 |
21,896,561 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
17,332,541 |
18,600,151 |
27,817,382 |
33,160,034 |
21,896,561 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
102,523 |
49,391 |
69,421 |
139,240 |
(267,111) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
102,523 |
49,391 |
69,421 |
139,240 |
(267,111) |
|
Taxation |
(64,767) |
(83,084) |
(47,668) |
(37,120) |
300 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
37,756 |
(33,693) |
21,753 |
102,120 |
(266,811) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
(31,008) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
(31,008) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(169,883) |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(169,883) |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
|
============= |
============= |
============= |
============= |
============= |
|
|
WORLDWIDE
CULTURE RESOURCES SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
261,692 |
490,309 |
672,209 |
965,060 |
187,541 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
261,692 |
490,309 |
672,209 |
965,060 |
187,541 |
|
TOTAL
CURRENT ASSETS |
4,730,421 |
5,176,323 |
4,144,407 |
3,798,330 |
4,109,868 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
4,992,113 |
5,666,632 |
4,816,616 |
4,763,390 |
4,297,409 |
|
============= |
============= |
============= |
============= |
============= |
|
|
TOTAL
CURRENT LIABILITIES |
3,827,067 |
4,331,559 |
3,278,427 |
3,654,200 |
3,430,785 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
903,354 |
844,764 |
865,980 |
144,130 |
679,083 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,165,046 |
1,335,073 |
1,538,189 |
1,109,190 |
866,624 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
Retained
profit/(loss) carried forward |
(169,883) |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(169,883) |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
240,117 |
202,361 |
236,054 |
214,301 |
112,181 |
|
TOTAL
LONG TERM LIABILITIES |
924,929 |
1,132,712 |
1,302,135 |
894,889 |
754,443 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,165,046 |
1,335,073 |
1,538,189 |
1,109,190 |
866,624 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
WORLDWIDE
CULTURE RESOURCES SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Net
Liquid Assets |
903,354 |
844,764 |
865,980 |
144,130 |
679,083 |
|
Net
Current Assets/(Liabilities) |
903,354 |
844,764 |
865,980 |
144,130 |
679,083 |
|
Net
Tangible Assets |
1,165,046 |
1,335,073 |
1,538,189 |
1,109,190 |
866,624 |
|
Net
Monetary Assets |
(21,575) |
(287,948) |
(436,155) |
(750,759) |
(75,360) |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Liabilities |
4,751,996 |
5,464,271 |
4,580,562 |
4,549,089 |
4,185,228 |
|
Total
Assets |
4,992,113 |
5,666,632 |
4,816,616 |
4,763,390 |
4,297,409 |
|
Net
Assets |
1,165,046 |
1,335,073 |
1,538,189 |
1,109,190 |
866,624 |
|
Net
Assets Backing |
240,117 |
202,361 |
236,054 |
214,301 |
112,181 |
|
Shareholders'
Funds |
240,117 |
202,361 |
236,054 |
214,301 |
112,181 |
|
Total
Share Capital |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
Total
Reserves |
(169,883) |
(207,639) |
(173,946) |
(195,699) |
(297,819) |
|
LIQUIDITY
(Times) |
|||||
|
Current
Ratio |
1.24 |
1.20 |
1.26 |
1.04 |
1.20 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Liabilities
Ratio |
19.79 |
27.00 |
19.40 |
21.23 |
37.31 |
|
Assets
Backing Ratio |
2.84 |
3.26 |
3.75 |
2.71 |
2.11 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.59 |
0.27 |
0.25 |
0.42 |
(1.22) |
|
Net
Profit Margin |
0.22 |
(0.18) |
0.08 |
0.31 |
(1.22) |
|
Return
On Net Assets |
8.80 |
3.70 |
4.51 |
12.55 |
(30.82) |
|
Return
On Capital Employed |
8.80 |
3.70 |
4.51 |
12.55 |
(30.82) |
|
Return
On Shareholders' Funds/Equity |
15.72 |
(16.65) |
9.22 |
47.65 |
(237.84) |
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. 15.50 |
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.