|
Report No. : |
306600 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEMIS ASIA PACIFIC
SDN. BHD. |
|
|
|
|
Formerly Known As : |
PERFECSEAL (ASIA PACIFIC) SDN. BHD. |
|
|
|
|
Registered Office : |
Symphony House, Block D13, Pusat Dagangan Dana 1, Jalan PJU 1A/46, Level 8, 47301 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
13.11.1997 |
|
|
|
|
Com. Reg. No.: |
452772-P |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Medical and Flexible Packaging Materials. |
|
|
|
|
No. of Employees : |
160 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. The
NAJIB administration also 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. As an oil and gas exporter, Malaysia has
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. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies
about 32% of government revenue in 2013. Bank Negara Malaysia (central bank)
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia's exposure to riskier financial instruments and the
global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall
in commodity prices or a general slowdown in global economic activity because
exports are a major component of GDP. In order to attract increased investment,
NAJIB earlier 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.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
452772-P |
||||
|
COMPANY NAME |
: |
BEMIS ASIA PACIFIC SDN. BHD. |
||||
|
FORMER NAME |
: |
PERFECSEAL (ASIA PACIFIC) SDN. BHD. (10/05/2003) |
||||
|
INCORPORATION DATE |
: |
13/11/1997 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SYMPHONY HOUSE, BLOCK D13, PUSAT DAGANGAN DANA 1, JALAN PJU 1A/46, LEVEL 8, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
8 & 10, JALAN TP 5, TAMAN PERINDUSTRIAN UEP, 47600 SUBANG JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-80266488 |
||||
|
FAX.NO. |
: |
03-80244215 |
||||
|
WEB SITE |
: |
WWW.BEMIS.COM |
||||
|
CONTACT PERSON |
: |
LIM BEE LEONG ( PRESIDENT ) |
||||
|
INDUSTRY CODE |
: |
26600 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF MEDICAL AND FLEXIBLE PACKAGING MATERIALS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 14,682,432.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 91,610,330 [2013] |
||||
|
NET WORTH |
: |
MYR 58,224,581 [2013] |
||||
|
STAFF STRENGTH |
: |
160 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing of medical and flexible packaging materials.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is PERFECSEAL LIMITED, a company incorporated in IRELAND.
Share Capital History
|
Date |
Authorised Shared
Capital |
Issue & Paid Up
Capital |
|
30/06/2014 |
MYR 25,000,000.00 |
MYR 14,682,432.00 |
|
31/12/1999 |
MYR 10,000,000.00 |
MYR 10,000,000.00 |
|
13/11/1997 |
MYR 1,000,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PERFECSEAL LIMITED |
ACORN ROAD, CAMPSIE, INDUSTRIAL ESTATE, LONDONDERRY, BT47 3GQ, IRELAND. |
NI 17929 |
14,682,432.00 |
100.00 |
|
--------------- |
------ |
|||
|
14,682,432.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. NURULUYUN BINTI ABDUL JABAR |
|
Address |
: |
121, JALAN LIMAU PURUT, BANGSAR PARK, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A0160499 |
|
New IC No |
: |
650606-02-5662 |
|
Date of Birth |
: |
06/06/1965 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/07/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. LIM BEE LEONG |
|
Address |
: |
1, JALAN ANGGERIK ERIA, 31/109C, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
7466087 |
|
New IC No |
: |
641002-10-7451 |
|
Date of Birth |
: |
02/10/1964 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
13/11/1997 |
|
1) |
Name of Subject |
: |
LIM BEE LEONG |
|
Position |
: |
PRESIDENT |
|
|
2) |
Name of Subject |
: |
YAP PECK GEOK |
|
Position |
: |
ACCOUNTANT |
|
|
3) |
Name of Subject |
: |
NGUI MEO ONG |
|
Position |
: |
MARKETING MANAGER |
|
|
4) |
Name of Subject |
: |
MELLISSA WONG |
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
5) |
Name of Subject |
: |
GOH MENG ENG |
|
Position |
: |
QUALITY CONTROL MANAGER |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
1, SENTRAL, JALAN TRAVERS, KUALA LUMPUR SENTRAL, P. O. BOX 10192, LEVEL 10, 50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. NURULUYUN BINTI ABDUL JABAR |
|
IC / PP No |
: |
A0160499 |
|
|
New IC No |
: |
650606-02-5662 |
|
|
Address |
: |
121, JALAN LIMAU PURUT, BANGSAR PARK, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of investigation.
* 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.
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
40% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
Award |
: |
1 ) SPECIAL AWARD FOR DESIGN EXCELLENCE BY MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI) Year :2002 |
|
|
Competitor(s) |
: |
SCIENTILLENCE SDN BHD |
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
|
Factory Size |
: |
ABOUT 22,000 SQ FT |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
160 |
160 |
160 |
165 |
140 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
medical and flexible packaging materials.
The Subject produces medical packaging materials especially the peel pouches
for medical industries.
The Subject offers total integrated production including the printing, pounch
making, slitting, custom tray thermoforming and rewinding.
Besides that the Subject is also supplying surgical medical gloves for
hospitals and pharmaceuticals.
The Subject designs and manufactures pouches according to its customers'
requirements.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-80266488 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO 8 JALAN TP5 TAMAN PERINDUSTRIAN UEP 47600 SUBHANG JAYA SELANGOR |
|
Current Address |
: |
8 & 10, JALAN TP 5, TAMAN PERINDUSTRIAN UEP, 47600 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
12.50% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.08% |
] |
|
|
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 |
: |
Unfavourable |
[ |
83 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
14 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The Subject's management was quite efficient in handling its debtors. The Subject's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. 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 |
[ |
2.86 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.62 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest during the year. 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. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. 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 : STRONG |
||||||
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
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 |
52,314 |
- |
|
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 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
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 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
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) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
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 |
|
|
26600 : Manufacture
of irradiation, electro medical and electrotherapeutic equipment |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the leading manufacturer of automation machinery and equipment (M&E) in the ASEAN region with a total of 22 companies in production. The machinery and equipment industry has expanded and produce a diverse range of machinery which give importance to the overall industrial development of the country, due to its cross cutting linkages with all industrial sectors. |
|
|
Growth of the domestic-oriented industries such as machinery and transportation equipment is expected to remain favourable in 2014, in line with resilient domestic consumption and robust private investment. However, the output of general-purpose machinery decreased 8.8% in the first seven moths of 2014 (January - July 2013: -1.8%) due to the decline in manufacture of air-conditioning machine (-17.9%) as well as lifting and handling equipment (-8.2%). |
|
|
Besides, shipments of machinery, appliances and parts continued to expand rapidly by 12.5% in the first seven months of 2014 (January - July 2013: 1.4%) with stronger demand from Singapore, the US, China and Australia. Growth was mainly contributed by specialized machinery for specific industries (16.3%), particularly for civil engineering and manufacture of semiconductors as well as general industrial machinery and equipment (9.2%) such as heating and cooling equipment and parts as well as mechanical handling equipment and parts. |
|
|
According to the World Bank's Doing Business 2014 Report, Malaysia improved to 15th from 25th position in the 2014 Foreign Direct Investment Confidence Index, with highlighted Malaysia's efforts in building its competitive position in electronics, automotive, and machinery manufacturing to move up the value chain into high technology and skill-intensive segments. |
|
|
The Government has identified the M&E industry to be one of the key areas for growth and development. The growth will focus on the manufacture of high value-added and high technology M&E. For the further development of the M&E industry, six strategic thrusts have been set during the Third Industrial Master Plan (IMP3), 2006 - 2020 period:- |
|
|
- Promoting Malaysia as a regional production, trading and distribution centre for M&E |
|
|
- Rising the development and promotion of selected specialized and high technology M&E |
|
|
- Strengthening the engineering support industries and support services |
|
|
- Developing Malaysian Standards for machinery and equipment |
|
|
- Developing sufficient highly skilled workforce |
|
|
- Strengthening the institutional support for the further development of the industry |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 1997, the Subject is a Private Limited company, focusing on manufacturing of medical and flexible packaging materials. With its long establishment in the market, the Subject has received strong support from its stable customers base. Its business position in the market is quite stable and it is expected to enjoy better market shares over its rivals. The Subject is a large entity with strong capital position of MYR 14,682,432. We are confident with the Subject's business and its future growth prospect. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment.
Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.
In view of the above favourable condition, we recommend credit be proceeded to the Subject with favourable term. |
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
BEMIS ASIA PACIFIC
SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
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 |
91,610,330 |
94,016,771 |
96,281,084 |
98,662,727 |
87,025,908 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
91,610,330 |
94,016,771 |
96,281,084 |
98,662,727 |
87,025,908 |
|
Costs of Goods Sold |
(76,467,162) |
(79,238,056) |
(84,112,317) |
(84,080,864) |
(74,967,032) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
15,143,168 |
14,778,715 |
12,168,767 |
14,581,863 |
12,058,876 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
10,072,045 |
8,857,871 |
6,186,448 |
8,176,937 |
7,572,809 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
10,072,045 |
8,857,871 |
6,186,448 |
8,176,937 |
7,572,809 |
|
Taxation |
(2,793,855) |
(1,291,705) |
(823,387) |
(556,436) |
(355,577) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
7,278,190 |
7,566,166 |
5,363,061 |
7,620,501 |
7,217,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
24,496,999 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
24,496,999 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
59,542,149 |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(16,000,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
43,542,149 |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
- |
- |
- |
178 |
|
Revolving loans |
- |
- |
- |
- |
14,746 |
|
Others |
- |
- |
- |
- |
33,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
- |
48,424 |
|
|
============= |
============= |
|
BEMIS ASIA PACIFIC
SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
16,108,212 |
18,340,540 |
18,888,635 |
18,505,592 |
19,777,286 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
16,108,212 |
18,340,540 |
18,888,635 |
18,505,592 |
19,777,286 |
|
Stocks |
20,796,560 |
19,666,743 |
20,576,383 |
22,088,521 |
20,189,235 |
|
Trade debtors |
15,707,233 |
17,690,457 |
17,053,470 |
18,151,204 |
14,521,619 |
|
Other debtors, deposits & prepayments |
1,072,897 |
959,467 |
687,206 |
756,414 |
735,824 |
|
Short term deposits |
- |
- |
12,800,000 |
7,000,000 |
- |
|
Deposits with financial institutions |
13,718,530 |
19,425,374 |
- |
- |
- |
|
Amount due from subsidiary companies |
513,876 |
392,371 |
1,276,967 |
1,454,147 |
342,309 |
|
Cash & bank balances |
2,921,127 |
3,945,976 |
4,109,197 |
2,475,555 |
2,886,446 |
|
Others |
- |
- |
- |
212,811 |
99,574 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
54,730,223 |
62,080,388 |
56,503,223 |
52,138,652 |
38,775,007 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
70,838,435 |
80,420,928 |
75,391,858 |
70,644,244 |
58,552,293 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,001,952 |
2,497,968 |
3,642,644 |
5,704,520 |
4,843,377 |
|
Other creditors & accruals |
2,260,856 |
5,544,733 |
3,942,163 |
4,141,261 |
2,734,413 |
|
Amounts owing to holding company |
4,856,127 |
3,790,309 |
3,815,740 |
3,092,044 |
1,192,420 |
|
Amounts owing to subsidiary companies |
1,376,469 |
934,485 |
3,050,688 |
2,067,215 |
1,885,675 |
|
Provision for taxation |
357,004 |
319,871 |
675,091 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
11,852,408 |
13,087,366 |
15,126,326 |
15,005,040 |
10,655,885 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
42,877,815 |
48,993,022 |
41,376,897 |
37,133,612 |
28,119,122 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
58,986,027 |
67,333,562 |
60,265,532 |
55,639,204 |
47,896,408 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
|
Retained profit/(loss) carried forward |
43,542,149 |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
43,542,149 |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
58,224,581 |
66,946,391 |
59,380,225 |
54,017,164 |
46,396,663 |
|
Deferred taxation |
288,990 |
178,456 |
885,307 |
1,622,040 |
1,499,745 |
|
Others |
472,456 |
208,715 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
761,446 |
387,171 |
885,307 |
1,622,040 |
1,499,745 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
58,986,027 |
67,333,562 |
60,265,532 |
55,639,204 |
47,896,408 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
BEMIS ASIA PACIFIC
SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
2,921,127 |
3,945,976 |
16,909,197 |
9,475,555 |
2,886,446 |
|
Net Liquid Funds |
2,921,127 |
3,945,976 |
16,909,197 |
9,475,555 |
2,886,446 |
|
Net Liquid Assets |
22,081,255 |
29,326,279 |
20,800,514 |
15,045,091 |
7,929,887 |
|
Net Current Assets/(Liabilities) |
42,877,815 |
48,993,022 |
41,376,897 |
37,133,612 |
28,119,122 |
|
Net Tangible Assets |
58,986,027 |
67,333,562 |
60,265,532 |
55,639,204 |
47,896,408 |
|
Net Monetary Assets |
21,319,809 |
28,939,108 |
19,915,207 |
13,423,051 |
6,430,142 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
14,746 |
|
Total Liabilities |
12,613,854 |
13,474,537 |
16,011,633 |
16,627,080 |
12,155,630 |
|
Total Assets |
70,838,435 |
80,420,928 |
75,391,858 |
70,644,244 |
58,552,293 |
|
Net Assets |
58,986,027 |
67,333,562 |
60,265,532 |
55,639,204 |
47,896,408 |
|
Net Assets Backing |
58,224,581 |
66,946,391 |
59,380,225 |
54,017,164 |
46,396,663 |
|
Shareholders' Funds |
58,224,581 |
66,946,391 |
59,380,225 |
54,017,164 |
46,396,663 |
|
Total Share Capital |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
14,682,432 |
|
Total Reserves |
43,542,149 |
52,263,959 |
44,697,793 |
39,334,732 |
31,714,231 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.25 |
0.30 |
1.12 |
0.63 |
0.27 |
|
Liquid Ratio |
2.86 |
3.24 |
2.38 |
2.00 |
1.74 |
|
Current Ratio |
4.62 |
4.74 |
3.74 |
3.47 |
3.64 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
83 |
76 |
78 |
82 |
85 |
|
Debtors Ratio |
63 |
69 |
65 |
67 |
61 |
|
Creditors Ratio |
14 |
12 |
16 |
25 |
24 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.22 |
0.20 |
0.27 |
0.31 |
0.26 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
157.39 |
|
Assets Backing Ratio |
4.02 |
4.59 |
4.10 |
3.79 |
3.26 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
10.99 |
9.42 |
6.43 |
8.29 |
8.70 |
|
Net Profit Margin |
7.94 |
8.05 |
5.57 |
7.72 |
8.29 |
|
Return On Net Assets |
17.08 |
13.16 |
10.27 |
14.70 |
15.91 |
|
Return On Capital Employed |
17.08 |
13.16 |
10.27 |
14.70 |
15.91 |
|
Return On Shareholders' Funds/Equity |
12.50 |
11.30 |
9.03 |
14.11 |
15.56 |
|
Dividend Pay Out Ratio (Times) |
2.20 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.