|
Report No. : |
356622 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEVEALAND SDN. BHD. |
|
|
|
|
Registered Office : |
69-1a, Og Business Park, Taman Datuk Tan Yew
Lai, Jalan Datun Tan Yew Lai, 58200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.12.2009 |
|
|
|
|
Com. Reg. No.: |
882229-U |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of natural and synthetic rubber. |
|
|
|
|
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 : |
Small company |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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. |
: |
882229-U |
||||
|
COMPANY NAME |
: |
HEVEALAND SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
10/12/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
69-1A, OG BUSINESS PARK, TAMAN DATUK TAN YEW
LAI, JALAN DATUN TAN YEW LAI, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
A-12-2, TOWER A, MENARA UOA BANGSAR 5,
JALAN BANGSAR UTAMA 1, LEVEL 12, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-22848815 |
||||
|
FAX.NO. |
: |
03-22828817 |
||||
|
CONTACT PERSON |
: |
SUBRAMANIAM A/L VELLAYUTHAM ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46201 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF NATURAL AND SYNTHETIC RUBBER |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED
INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 58,528,484 [2014] |
||||
|
NET WORTH |
: |
MYR 1,193,341 [2014] |
||||
|
STAFF STRENGTH |
: |
10 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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 natural and synthetic rubber.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
67 & 69, JALAN 7/132, GASING INDAH,
59300, MALAYSIA, MALAYSIA |
01/03/2010 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/06/2015 |
MYR 500,000.00 |
MYR 500,000.00 |
|
10/02/2010 |
MYR 100,000.00 |
MYR 100,000.00 |
|
10/12/2009 |
MYR 100,000.00 |
MYR 1,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. SUBRAMANIAM A/L VELLAYUTHAM + |
28, JALAN LIMAU KASTURI, BANGSAR PARK, 59000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
470522-05-5065 4000160 |
225,000.00 |
45.00 |
|
MS. PATHMA DEVI A/P K. CUMARAVELU + |
28, JALAN LIMAU KASTURI, BANGSAR PARK,
59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
470810-10-5338 0662119 |
225,000.00 |
45.00 |
|
MR. SIMON @ FLAM FERNANDEZ + |
49-3-12, BANGSAR PUTRI, JALAN MEDAN SERAI,
BUKIT BANDARAYA, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
520524-10-5743 |
50,000.00 |
10.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SIMON @ FLAM FERNANDEZ |
|
Address |
: |
49-3-12, BANGSAR PUTRI, JALAN MEDAN SERAI, BUKIT
BANDARAYA, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
520524-10-5743 |
|
Date of Birth |
: |
24/05/1952 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/02/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. PATHMA DEVI A/P K. CUMARAVELU |
|
Address |
: |
28, JALAN LIMAU KASTURI, BANGSAR PARK,
59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
0662119 |
|
New IC No |
: |
470810-10-5338 |
|
Date of Birth |
: |
10/08/1947 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/12/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. SUBRAMANIAM A/L VELLAYUTHAM |
|
Address |
: |
28, JALAN LIMAU KASTURI, BANGSAR PARK,
59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4000160 |
|
New IC No |
: |
470522-05-5065 |
|
Date of Birth |
: |
22/05/1947 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/12/2009 |
|
1) |
Name of Subject |
: |
SUBRAMANIAM A/L VELLAYUTHAM |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
SELVA & ASSOCIATES |
|
Auditor' Address |
: |
SUITE 301, BLOCK A4, LEISURE COMMERCIAL
SQUARE, 9, JALAN PJS 8/9, 3RD FLOOR, 46150 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. KAMALA DEVI A/P RAJA GOPAL |
|
IC / PP No |
: |
A2191293 |
|
|
New IC No |
: |
720614-05-5272 |
|
|
Address |
: |
39, JALAN SP 9/4, BANDAR SAUJANA PUCHONG,
43300 BALAKONG, SELANGOR, MALAYSIA. |
|
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.
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
NATURAL AND SYNTHETIC RUBBER |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2012 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
10 |
5 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of natural and
synthetic rubber.
The Subject sells rubber.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-22848815 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
A-12-2, TOWER A, MENARA UOA BANGSAR 5,
JALAN BANGSAR UTAMA 1, LEVEL 12,59000,KUALA LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
A-12-2, TOWER A, MENARA UOA BANGSAR 5,
JALAN BANGSAR UTAMA 1, LEVEL 12, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 22nd December 2015 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 |
[ |
11.24% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.66% |
] |
|
|
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. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
12 Days |
] |
|
|
As the Subject is a service oriented company,
the Subject does not need to keep stocks. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.32 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.32 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to
meet short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.10 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was low. If
its profits fall or when interest rate rises, it may not be able to
meet all its interest payment. The Subject had no gearing and hence it had
virtually no financial risk. The Subject was financed by its shareholders'
funds and internally generated fund. During the economic downturn, the
Subject, having a zero gearing, will be able to compete better than those
which are highly geared in the same industry. |
||||||
|
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. If there is a fall in the Subject's profit or any increase
in interest rate, the Subject may not be able to generate sufficient
cash-flow to service its interest. The Subject was a zero gearing company, it
was solely dependant on its shareholders to provide funds to finance its
business. The Subject has good chance of getting loans, if the needs arises. |
||||||
|
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 |
|||||
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
46201 : Wholesale of rubber |
|
|
INDUSTRY : |
TRADING |
|
According to Business Monitor International,
the retail market will begin to bounce back in 2016 after a rough year during
2015. The short-term outlook is bearish and it will take a number of years to
alter spending habits away from saving and paying down high levels of debt.
The local retail sector is expected to register subdued year-on-year growth
in the first quarter of 2016, mainly due to the implementation of the goods
and services tax (GST) and cautious consumer sentiment. |
|
|
Growth in the first quarter of 2016 will be
boosted by Chinese New Year. However, everything will be subjected to GST. In
first quarter of 2015, retail sector grew 4.6% due to rush in purchases from
customers that were looking to avoid GST, which was implemented on April 1
2015. In 2016, the wholesale and retail trade as well as food, beverage and
accommodation sectors are expected to increase by 6.5% and 6%. The wholesale
and retail trade sector continued to grow by 7.9% during the first half of
2015 supported by higher consumer spending, particularly prior to the
implementation of GST. |
|
|
Moreover, the wholesale segment expanded
further to 9.2% supported by wholesale of petrol, diesel and construction
materials as well as wholesale of agricultural raw materials which include
rubber, palm oil and livestock. The retail segment increased by 7.4% backed
by sales at specialized and non-specialized stores of household, information
and communication equipment, as well as food, beverage and tobacco. |
|
|
In addition, the 1Malaysia Mega Sales carnival,
aimed at promoting the country as a preferred shopping destination and the
expansion of retail outlets such as hypermarkets, large-scale superstores as
well as departmental stores contributed to the segment’s growth. As at
end-July 2015, there were 189 foreign owned hypermarkets, superstores and
departmental stores operating nationwide. Meanwhile, the motor vehicle
segment moderated to 4.8% due to slower sales of parts and accessories as
well as new and used vehicles. In 2015, the wholesale and retail trade sector
is expected to increase by 7.6% supported by steady domestic consumption. The
food, beverage and accommodation sector expanded by 7% during the first half
of 2015 on account of higher spending during the school holidays and
festivities as well as tourism related activities. |
|
|
Under budget 2016, a total of 4,215 brands
of medicine and medical gases in the National Essential Medicines List (NEML)
issued by the Ministry of Health and approved by the Minister of Finance and
put up in measured doses or in the form of packaging for retail sale are
subject to GST at zero rate. These include 321 chemical entities for
treatment of over 30 diseases including heart disease, diabetes,
hypertension, cancer, hepatitis and fertility treatment. |
|
|
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 |
|
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
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 |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
58,528,484 |
64,237,739 |
71,438,146 |
80,220,950 |
44,438,747 |
|
Other Income |
134,625 |
80,373 |
- |
- |
2,008 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
58,663,109 |
64,318,112 |
71,438,146 |
80,220,950 |
44,440,755 |
|
Costs of Goods Sold |
(57,391,380) |
(63,142,762) |
(70,329,493) |
(78,974,061) |
(43,878,672) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,271,729 |
1,175,350 |
1,108,653 |
1,246,889 |
562,083 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
172,948 |
58,408 |
165,477 |
470,497 |
14,547 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
172,948 |
58,408 |
165,477 |
470,497 |
14,547 |
|
Taxation |
(38,759) |
(16,074) |
(36,925) |
(94,009) |
(2,769) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
134,189 |
42,334 |
128,552 |
376,488 |
11,778 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
559,152 |
516,818 |
388,266 |
11,778 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
559,152 |
516,818 |
388,266 |
11,778 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
693,341 |
559,152 |
516,818 |
388,266 |
11,778 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
693,341 |
559,152 |
516,818 |
388,266 |
11,778 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
157,186 |
142,249 |
128,660 |
51,002 |
46,297 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
157,186 |
142,249 |
128,660 |
51,002 |
46,297 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
43,646 |
43,646 |
43,646 |
43,646 |
70,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
43,646 |
43,646 |
43,646 |
43,646 |
70,232 |
|
|
============= |
============= |
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
30,517 |
74,163 |
117,809 |
161,455 |
52,482 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
30,517 |
74,163 |
117,809 |
161,455 |
52,482 |
|
Trade debtors |
3,764,385 |
3,206,658 |
5,043,750 |
10,018,397 |
1,442,704 |
|
Other debtors, deposits & prepayments |
617,889 |
101,035 |
99,756 |
20,831 |
20,831 |
|
Cash & bank balances |
410,479 |
736,801 |
31,695 |
235,140 |
108,674 |
|
Others |
39,042 |
37,001 |
5,075 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,831,795 |
4,081,495 |
5,180,276 |
10,274,368 |
1,572,209 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
4,862,312 |
4,155,658 |
5,298,085 |
10,435,823 |
1,624,691 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
1,898,710 |
1,450,491 |
3,056,687 |
8,349,555 |
258,698 |
|
Other creditors & accruals |
306,662 |
182,416 |
90,981 |
285,526 |
91,023 |
|
Amounts owing to director |
1,463,599 |
1,463,599 |
1,133,599 |
905,467 |
760,423 |
|
Provision for taxation |
- |
- |
- |
7,009 |
2,769 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,668,971 |
3,096,506 |
4,281,267 |
9,547,557 |
1,112,913 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,162,824 |
984,989 |
899,009 |
726,811 |
459,296 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Retained profit/(loss) carried forward |
693,341 |
559,152 |
516,818 |
388,266 |
11,778 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
693,341 |
559,152 |
516,818 |
388,266 |
11,778 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
410,479 |
736,801 |
31,695 |
235,140 |
108,674 |
|
Net Liquid Funds |
410,479 |
736,801 |
31,695 |
235,140 |
108,674 |
|
Net Liquid Assets |
1,162,824 |
984,989 |
899,009 |
726,811 |
459,296 |
|
Net Current Assets/(Liabilities) |
1,162,824 |
984,989 |
899,009 |
726,811 |
459,296 |
|
Net Tangible Assets |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
Net Monetary Assets |
1,162,824 |
984,989 |
899,009 |
726,811 |
459,296 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
330,134 |
200,657 |
294,137 |
521,499 |
60,844 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
373,780 |
244,303 |
337,783 |
565,145 |
131,076 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
3,668,971 |
3,096,506 |
4,281,267 |
9,547,557 |
1,112,913 |
|
Total Assets |
4,862,312 |
4,155,658 |
5,298,085 |
10,435,823 |
1,624,691 |
|
Net Assets |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
Net Assets Backing |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
Shareholders' Funds |
1,193,341 |
1,059,152 |
1,016,818 |
888,266 |
511,778 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
693,341 |
559,152 |
516,818 |
388,266 |
11,778 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.11 |
0.24 |
0.01 |
0.02 |
0.10 |
|
Liquid Ratio |
1.32 |
1.32 |
1.21 |
1.08 |
1.41 |
|
Current Ratio |
1.32 |
1.32 |
1.21 |
1.08 |
1.41 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
23 |
18 |
26 |
46 |
12 |
|
Creditors Ratio |
12 |
8 |
16 |
39 |
2 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
3.07 |
2.92 |
4.21 |
10.75 |
2.17 |
|
Times Interest Earned Ratio |
2.10 |
1.41 |
2.29 |
10.23 |
1.31 |
|
Assets Backing Ratio |
2.39 |
2.12 |
2.03 |
1.78 |
1.02 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.30 |
0.09 |
0.23 |
0.59 |
0.03 |
|
Net Profit Margin |
0.23 |
0.07 |
0.18 |
0.47 |
0.03 |
|
Return On Net Assets |
27.66 |
18.95 |
28.93 |
58.71 |
11.89 |
|
Return On Capital Employed |
27.66 |
18.95 |
28.93 |
58.71 |
11.89 |
|
Return On Shareholders' Funds/Equity |
11.24 |
4.00 |
12.64 |
42.38 |
2.30 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
|
MYR |
1 |
Rs.15.44 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.