|
Report No. : |
307362 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TEONG FATT COMMODITIES (M) SDN. BHD. |
|
|
|
|
Registered Office : |
35, Jalan Kelisa Emas 1, Taman Kelisa Emas, 1st Floor,
13700 Perai, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.08.2013 |
|
|
|
|
Date of Incorporation : |
27.05.1991 |
|
|
|
|
Com. Reg. No.: |
217777-X |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in trading of Agricultural Product
including Beans, Daal, Herbs, Spices, Dried fruits
& Essential Oils |
|
|
|
|
No of Employees : |
25 (2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – 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. |
: |
217777-X |
||||
|
COMPANY NAME |
: |
TEONG FATT
COMMODITIES (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
27/05/1991 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
35, JALAN KELISA EMAS 1, TAMAN KELISA
EMAS, 1ST FLOOR, 13700 PERAI, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
4181, LORONG PERDA UTAMA 7, BANDAR PERDA,
14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-5379996 |
||||
|
FAX.NO. |
: |
04-5376669 |
||||
|
CONTACT PERSON |
: |
NG TENG SEAH ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
Engaged
in trading of Agricultural Product including Beans, Daal, Herbs, Spices,
Dried fruits & Essential Oils |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,150,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 23,304,705 [2013] |
||||
|
NET WORTH |
: |
MYR 7,108,737 [2013] |
||||
|
STAFF STRENGTH |
: |
25 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
No Complaints |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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 agricultural product.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
29/02/2012 |
MYR 5,000,000.00 |
MYR 1,150,000.00 |
|
10/08/1992 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
09/03/1992 |
MYR 1,000,000.00 |
MYR 500,000.00 |
|
06/06/1991 |
MYR 2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TEOH SIAM LOH |
429, JALAN MARKET, 09800 SERDANG, KEDAH, MALAYSIA. |
0977434 |
259,337.00 |
22.55 |
|
MR. NG CHUN LAI |
11, LORONG TAMBUN INDAH 8, TAMAN TAMBUN INDAH, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
490824-02-5337 2406593 |
224,171.00 |
19.49 |
|
SIM LEO SUAN |
326, LORONG KENANGAN 9, TAMAN KENANGAN, SUNGAI KARANGAN, 09410 PADANG SERAI, KEDAH, MALAYSIA. |
430319-07-5208 3082695 |
177,789.00 |
15.46 |
|
MR. NG TENG SEAH + |
11, LORONG TAMBUN INDAH 8, TAMAN TAMBUN INDAH, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
800709-07-5057 |
100,000.00 |
8.70 |
|
NG CHYE HOCK |
429, JALAN MARKET, 09800 SERDANG, KEDAH, MALAYSIA. |
7013666 |
81,114.00 |
7.05 |
|
TAN SWEE LENG |
31, TAMAN SENTOSA, 02000 KUALA PERLIS, PERLIS, MALAYSIA. |
2958896 |
70,936.00 |
6.17 |
|
TAN SWEE PHENG |
31, TAMAN SENTOSA, 02000 KUALA PERLIS, PERLIS, MALAYSIA. |
A0706802 |
70,935.00 |
6.17 |
|
MS. KHAW AH CHOON |
5, TINGKAT BINJAI 30, TAMAN SRI RAMBAI, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
530530-07-5260 4485753 |
55,240.00 |
4.80 |
|
MR. NG SIAN KHIM |
1779, JALAN NANGKA, TAMAN GEMILANG RIA, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
851127-02-5703 |
55,239.00 |
4.80 |
|
MR. NG SONG CHYE |
5, TINGKAT BINJAI 30, TAMAN SRI RAMBAI, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
880221-35-5269 |
55,239.00 |
4.80 |
|
--------------- |
------ |
|||
|
1,150,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. NG SWEE LUANG |
|
Address |
: |
429, JALAN PASAR, 09800 SERDANG, KEDAH, MALAYSIA. |
|
IC / PP No |
: |
A0273319 |
|
New IC No |
: |
650907-02-5666 |
|
Date of Birth |
: |
07/09/1965 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
28/08/1997 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. NG TENG SEAH |
|
Address |
: |
11, LORONG TAMBUN INDAH 8, TAMAN TAMBUN INDAH, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
New IC No |
: |
800709-07-5057 |
|
Date of Birth |
: |
09/07/1980 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/11/2012 |
|
1) |
Name of Subject |
: |
NG TENG SEAH |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
SH YEOH & CO. |
|
Auditor' Address |
: |
37, JALAN KELISA EMAS 1, TAMAN KELISA EMAS, 13700 PERAI, PULAU PINANG, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. LIM KIM TECK |
|
IC / PP No |
: |
5538757 |
|
|
New IC No |
: |
590613-07-5607 |
|
|
Address |
: |
40, HALAMAN BUKIT GAMBIER 5, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. KONG SOWN KAEY |
|
IC / PP No |
: |
A2556365 |
|
|
New IC No |
: |
731205-07-5225 |
|
|
Address |
: |
121, JALAN BINJAI, TAMAN SRI RAMBAI, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
Banking relations are maintained principally
with :
|
1) |
Name |
: |
EON BANK BHD |
|
2) |
Name |
: |
HONG LEONG BANK BHD |
|
3) |
Name |
: |
MALAYAN BANKING BHD |
|
4) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
5) |
Name |
: |
PUBLIC BANK BHD |
|
6) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
28/12/1992 |
N/A |
ABN AMRO BANK BHD |
MYR 3,800,000.00 |
Satisfied |
|
2 |
28/12/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 570,000.00 |
Satisfied |
|
3 |
26/04/1994 |
N/A |
ABN AMRO BANK NV |
MYR 500,000.00 |
Satisfied |
|
4 |
03/05/1995 |
N/A |
ABN AMRO BANK BHD |
MYR 4,300,000.00 |
Satisfied |
|
5 |
06/06/1997 |
N/A |
HONG LEONG BANK BHD |
MYR 6,000,000.00 |
Satisfied |
|
6 |
06/06/1997 |
N/A |
HONG LEONG BANK BHDHD |
MYR 6,000,000.00 |
Satisfied |
|
7 |
06/07/2000 |
N/A |
MALAYAN BANKING BERHAD |
MYR 1,800,000.00 |
Satisfied |
|
8 |
02/10/2002 |
N/A |
PUBLIC BANK BERHAD |
MYR 600,000.00 |
Satisfied |
|
9 |
30/10/2002 |
CHARGE IN FORM 16A |
EON BANK BERHAD |
MYR 1,175,000.00 |
Satisfied |
|
10 |
30/10/2002 |
THIRD LEGAL CHARGE |
EON BANK BERHAD |
MYR 125,000.00 |
Satisfied |
|
11 |
25/05/2004 |
THIRD LEGAL CHARGE |
EON BANK BERHAD |
MYR 250,000.00 |
Satisfied |
|
12 |
03/10/2005 |
OPEN CHARGE |
OCBC BANK (MALAYSIA) BHD |
MYR 1,700,000.00 |
Unsatisfied |
|
13 |
03/10/2005 |
OPEN CHARGE |
OCBC BANK (MALAYSIA) BHD |
MYR 950,000.00 |
Unsatisfied |
|
14 |
03/10/2005 |
OPEN CHARGE |
OCBC BANK (MALAYSIA) BHD |
MYR 1,500,000.00 |
Unsatisfied |
|
15 |
03/10/2005 |
FOURTH LEGAL CHARGE |
OCBC BANK (MALAYSIA) BHD |
MYR 800,000.00 |
Unsatisfied |
|
16 |
15/05/2006 |
FOURTH LEGAL CHARGE |
EON BANK BHD |
MYR 500,000.00 |
Satisfied |
|
17 |
17/09/2007 |
1ST PARTY 1ST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
18 |
17/09/2007 |
1ST PARTY 1ST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
19 |
17/10/2007 |
1ST PARTY 5TH LEGAL CHARGE |
OCBC BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
20 |
17/10/2007 |
1ST PARTY 6TH LEGAL CHARGE |
OCBC BANK (MALAYSIA) BHD |
MYR 1,300,000.00 |
Unsatisfied |
|
21 |
23/04/2014 |
MEMORANDUM OF LEGAL CHARGE OVER DEPOSIT |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
22 |
14/08/2014 |
LETTER OF SET-OFF |
HONG LEONG BANK BERHAD |
- |
Unsatisfied |
* A check has been conducted in our databank
against 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 |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
CHINA,INDIA,THAILAND |
|
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
SINGAPORE |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
WHOLESALERS,DISTRIBUTORS |
|||
|
Goods Traded |
: |
AGRICULTURAL PRODUCTS |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2013 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
25 |
25 |
25 |
30 |
30 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of agricultural product.
The Subject offers a wide range of agricultural food products including Beans, Daal, Herbs, Spices, Dried fruits & Essential Oils
Besides that the Subject also provides products
based on the customers' requirements.
The Subject sells its products in large
quantities.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-5379996 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
4181, LORONG PERDA UTAMA 7, BANDAR
PERDA,14000,BUKIT TENGAH,PULAU PINANG. |
|
Current Address |
: |
4181, LORONG PERDA UTAMA 7, BANDAR PERDA,
14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff
from the Subject and she provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.18% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
12.19% |
] |
|
|
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
unfavourable return on shareholders' funds could indicate that the Subject
was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
58 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
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 |
: |
Acceptable |
[ |
0.98 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.25 Times |
] |
|
|
The Subject's liquid ratio was slightly
low. This could indicate that the Subject's working capital was slightly
deficient. The Subject will have to improve its liquidity position either by
obtaining short term financing or increase its paid up capital so that it can
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.83 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.97 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's gearing was slightly high. The
Subject is utilising the leverage concept to fund its expansion. However, the
high gearing has added financial risks to the Subject. It will be more
vulnerable in times of economy downturn. |
||||||
|
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's liquidity was at an acceptable range.
If the Subject is able to obtain further short term financing, it should be
able to meet all 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's
gearing was slightly high and its financial risk was also high. If no plans
are made to reduce its gearing, the Subject's performance may deteriorate in
the coming year. |
||||||
|
Overall
financial condition of the Subject : LIMITED |
||||||
|
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 |
|
|
46329 : Wholesale of other foodstuffs |
|
|
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 1991, the Subject is a
Private Limited company, focusing on trading of agricultural product. The
Subject has been in business for over two decades. It has built up a strong
clientele base and satisfactory reputation will enable the Subject to further
enhance its business in the near term. The Subject is expected to enjoy
a stable market shares. With MYR 1,150,000 in issued and paid up capital, the
Subject has the potential of capturing a higher market shares as it is
competing aggressively in the market. Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Being a small company, the Subject's business operation is supported by 25
employees. Overall, we regard that the Subject's management capability is
average. This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject. 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.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the
Subject has a good control over its resources. Overall, the Subject's payment habit is
good as the Subject has a good credit control and it could be taking
advantage of the cash discounts while maintaining a good reputation with its
creditors. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. Based on the above condition, we recommend
credit be granted to the Subject normally. |
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
TEONG FATT
COMMODITIES (M) SDN. BHD. |
|
Financial Year End |
2013-08-31 |
2012-08-31 |
2011-08-31 |
2010-08-31 |
2009-08-31 |
|
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 |
23,304,705 |
27,979,594 |
31,045,592 |
31,932,626 |
30,655,153 |
|
Other Income |
317,489 |
206,150 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
23,622,194 |
28,185,744 |
31,045,592 |
31,932,626 |
30,655,153 |
|
Costs of Goods Sold |
(19,866,472) |
(24,054,440) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,755,722 |
4,131,304 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
611,683 |
581,877 |
690,353 |
719,284 |
697,854 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
611,683 |
581,877 |
690,353 |
719,284 |
697,854 |
|
Taxation |
(101,424) |
(153,439) |
(161,955) |
(205,068) |
(186,797) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
510,259 |
428,438 |
528,398 |
514,216 |
511,057 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
4,041,369 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
4,041,369 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,958,737 |
5,448,478 |
5,020,040 |
4,779,142 |
4,552,426 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(287,500) |
(287,500) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,958,737 |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Others |
333,959 |
441,587 |
472,301 |
550,708 |
724,718 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
333,959 |
441,587 |
472,301 |
550,708 |
724,718 |
|
|
============= |
============= |
============= |
============= |
============= |
|
TEONG FATT
COMMODITIES (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
5,725,007 |
6,255,833 |
6,661,171 |
6,761,418 |
7,089,433 |
|
Investments |
185,058 |
185,058 |
190,987 |
502,421 |
606,339 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
185,058 |
185,058 |
190,987 |
502,421 |
606,339 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,910,065 |
6,440,891 |
6,852,158 |
7,263,839 |
7,695,772 |
|
Stocks |
2,022,412 |
2,069,468 |
1,949,887 |
2,304,046 |
3,077,046 |
|
Trade debtors |
3,673,886 |
4,847,333 |
6,132,854 |
6,460,348 |
7,084,292 |
|
Other debtors, deposits & prepayments |
1,001,250 |
1,203,626 |
883,559 |
912,627 |
932,147 |
|
Short term deposits |
- |
- |
649,483 |
330,205 |
323,149 |
|
Deposits with financial institutions |
1,536,272 |
928,598 |
- |
- |
- |
|
Amount due from director |
202,457 |
99,854 |
755,303 |
676,618 |
716,377 |
|
Cash & bank balances |
652,172 |
215,283 |
360,761 |
405,958 |
653,363 |
|
Others |
20,531 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
9,108,980 |
9,364,162 |
10,731,847 |
11,089,802 |
12,786,374 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
15,019,045 |
15,805,053 |
17,584,005 |
18,353,641 |
20,482,146 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
250,488 |
669,581 |
1,367,100 |
275,343 |
701,997 |
|
Other creditors & accruals |
634,252 |
813,225 |
572,999 |
606,012 |
416,263 |
|
Hire purchase & lease creditors |
93,444 |
113,049 |
139,761 |
123,678 |
124,936 |
|
Bank overdraft |
- |
85,021 |
- |
398,038 |
- |
|
Short term borrowings/Term loans |
110,337 |
102,100 |
94,319 |
172,285 |
151,938 |
|
Bill & acceptances payable |
6,156,000 |
6,549,000 |
8,148,000 |
8,628,000 |
10,517,000 |
|
Amounts owing to director |
15,696 |
- |
- |
39,236 |
41,430 |
|
Provision for taxation |
- |
15,942 |
9,079 |
53,136 |
30,817 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
7,260,217 |
8,347,918 |
10,331,258 |
10,295,728 |
11,984,381 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,848,763 |
1,016,244 |
400,589 |
794,074 |
801,993 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
7,758,828 |
7,457,135 |
7,252,747 |
8,057,913 |
8,497,765 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
|
Retained profit/(loss) carried forward |
5,958,737 |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,958,737 |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
7,108,737 |
6,598,478 |
6,170,040 |
5,641,642 |
5,414,926 |
|
Long term loans |
503,900 |
628,150 |
745,521 |
2,119,529 |
2,713,174 |
|
Hire purchase creditors |
36,191 |
125,507 |
236,186 |
199,742 |
283,665 |
|
Deferred taxation |
110,000 |
105,000 |
101,000 |
97,000 |
86,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
650,091 |
858,657 |
1,082,707 |
2,416,271 |
3,082,839 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
7,758,828 |
7,457,135 |
7,252,747 |
8,057,913 |
8,497,765 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TEONG FATT
COMMODITIES (M) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
652,172 |
215,283 |
1,010,244 |
736,163 |
976,512 |
|
Net Liquid Funds |
(5,503,828) |
(6,418,738) |
(7,137,756) |
(8,289,875) |
(9,540,488) |
|
Net Liquid Assets |
(173,649) |
(1,053,224) |
(1,549,298) |
(1,509,972) |
(2,275,053) |
|
Net Current Assets/(Liabilities) |
1,848,763 |
1,016,244 |
400,589 |
794,074 |
801,993 |
|
Net Tangible Assets |
7,758,828 |
7,457,135 |
7,252,747 |
8,057,913 |
8,497,765 |
|
Net Monetary Assets |
(823,740) |
(1,911,881) |
(2,632,005) |
(3,926,243) |
(5,357,892) |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
6,899,872 |
7,602,827 |
9,363,787 |
11,641,272 |
13,790,713 |
|
Total Liabilities |
7,910,308 |
9,206,575 |
11,413,965 |
12,711,999 |
15,067,220 |
|
Total Assets |
15,019,045 |
15,805,053 |
17,584,005 |
18,353,641 |
20,482,146 |
|
Net Assets |
7,758,828 |
7,457,135 |
7,252,747 |
8,057,913 |
8,497,765 |
|
Net Assets Backing |
7,108,737 |
6,598,478 |
6,170,040 |
5,641,642 |
5,414,926 |
|
Shareholders' Funds |
7,108,737 |
6,598,478 |
6,170,040 |
5,641,642 |
5,414,926 |
|
Total Share Capital |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
1,150,000 |
|
Total Reserves |
5,958,737 |
5,448,478 |
5,020,040 |
4,491,642 |
4,264,926 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.09 |
0.03 |
0.10 |
0.07 |
0.08 |
|
Liquid Ratio |
0.98 |
0.87 |
0.85 |
0.85 |
0.81 |
|
Current Ratio |
1.25 |
1.12 |
1.04 |
1.08 |
1.07 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
32 |
27 |
23 |
26 |
37 |
|
Debtors Ratio |
58 |
63 |
72 |
74 |
84 |
|
Creditors Ratio |
5 |
10 |
16 |
3 |
8 |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.97 |
1.15 |
1.52 |
2.06 |
2.55 |
|
Liabilities Ratio |
1.11 |
1.40 |
1.85 |
2.25 |
2.78 |
|
Times Interest Earned Ratio |
2.83 |
2.32 |
2.46 |
2.31 |
1.96 |
|
Assets Backing Ratio |
6.75 |
6.48 |
6.31 |
7.01 |
7.39 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
2.62 |
2.08 |
2.22 |
2.25 |
2.28 |
|
Net Profit Margin |
2.19 |
1.53 |
1.70 |
1.61 |
1.67 |
|
Return On Net Assets |
12.19 |
13.72 |
16.03 |
15.76 |
16.74 |
|
Return On Capital Employed |
12.04 |
13.37 |
15.73 |
14.80 |
16.50 |
|
Return On Shareholders' Funds/Equity |
7.18 |
6.49 |
8.56 |
9.11 |
9.44 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.56 |
0.56 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.