|
Report No. : |
301804 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SM BIOMED SDN. BHD. |
|
|
|
|
Registered Office : |
Lot 90, Sungai Petani, Industrial Estate, 08000 Sungai Petani, Kedah |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.05.1991 |
|
|
|
|
Com. Reg. No.: |
217323-M |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacturing and trading of pharmaceutical
raw materials, fine chemicals and industrial laboratory chemicals. |
|
|
|
|
No. of Employee : |
100 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
217323-M |
||||
|
COMPANY NAME |
: |
SM BIOMED SDN. BHD. |
||||
|
FORMER NAME |
: |
SM CHEMICALS SDN BHD (06/02/2004) |
||||
|
INCORPORATION DATE |
: |
18/05/1991 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 90, SUNGAI PETANI, INDUSTRIAL ESTATE, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 90, SUNGAI PETANI INDUSTRIAL ESTATE, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
||||
|
TEL.NO. |
: |
04-4411801 |
||||
|
FAX.NO. |
: |
04-4411341 |
||||
|
WEB SITE |
: |
WWW.SMBIOMED.COM |
||||
|
CONTACT PERSON |
: |
SHARAT KUMAR KRISHNA NAIK ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
21001 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF PHARMACEUTICAL RAW MATERIALS, FINE
CHEMICALS AND INDUSTRIAL LABORATORY CHEMICALS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 30,400,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 91,563,356 [2013] |
||||
|
NET WORTH |
: |
MYR 43,918,680 [2013] |
||||
|
STAFF STRENGTH |
: |
100 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing
and trading of pharmaceutical raw materials, fine chemicals and industrial
laboratory chemicals.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 50,000,000.00 |
MYR 30,400,000.00 |
|
17/02/2009 |
MYR 25,000,000.00 |
MYR 25,000,000.00 |
|
23/01/2009 |
MYR 25,000,000.00 |
MYR 24,000,000.00 |
|
31/01/2005 |
MYR 25,000,000.00 |
MYR 11,936,165.00 |
|
13/08/2004 |
MYR 25,000,000.00 |
MYR 11,691,470.00 |
|
15/12/1998 |
MYR 10,000,000.00 |
MYR 8,528,233.00 |
|
02/04/1996 |
MYR 5,000,000.00 |
MYR 3,500,000.00 |
|
05/03/1994 |
MYR 5,000,000.00 |
MYR 2,750,000.00 |
|
23/08/1992 |
MYR 5,000,000.00 |
MYR 2,500,000.00 |
|
21/06/1992 |
MYR 5,000,000.00 |
MYR 1,750,002.00 |
|
25/11/1991 |
MYR 5,000,000.00 |
MYR 750,002.00 |
|
18/05/1991 |
MYR 5,000,000.00 |
MYR 2.00 |
The major
shareholder(s) of the Subject are shown as follows:
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SCOCROFT LTD |
NO. 34, NORTH QUAY,, DOUGLAS,, ISLE OF MAN IMI 4LB |
XLZ000008800 |
18,345,702.00 |
60.35 |
|
SAI GANESH PROPERTIES PVT. LTD |
561, SRINIDHI WATER TANK ROAD, BSK III STAGE, KATRIGUPPE, BANGALORE
560 065, INDIA. |
XLZ00213346 |
5,624,000.00 |
18.50 |
|
GEETHA MOHAN SHEETY |
12, HATKESH CO-OPERATIVE HOUSING SOC ROAD, 5, JUHU, MUMBAI 400 056,
INDIA. |
G2629799 |
2,435,401.00 |
8.01 |
|
VAISHALI SHETTY |
GEETHA, 12 HATKESH CO-OPERATIVE HOUSING SOC ROAD, 5, JUHU, MUMBAI 400
056, INDIA. |
E0128700 |
1,047,440.00 |
3.45 |
|
NEUTRAL MASTER (M) SDN. BHD. |
WISMA PRIMA, 17 JALAN SRI SEMANTAN SATU, DAMANSARA HEIGHTS, 3RD FLOOR,
50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
219018D |
813,479.00 |
2.68 |
|
MR. DIONG SING PENG |
49, JALAN TR8/2, TROPICANA GOLF & COUNTRY RESORT, 47410 PETALING
JAYA, SELANGOR, MALAYSIA. |
691228-10-5569 A1448355 |
759,748.00 |
2.50 |
|
BAVAGUTHU RAGHURAM SHETTY + |
BAVAGUTHU KAUP, UDUPI, KARNATAKA, INDIA, INDIA. |
T526456 |
495,932.00 |
1.63 |
|
DR SHARAT KUMAR KRISHNA NAIK + |
49, LORONG 5, TAMAN PETANI JAYA, 08000 SUNGAI PETANI, KEDAH, MALAYSIA. |
H9530671 |
348,810.00 |
1.15 |
|
MR. TAMIL MANI A/L M.KATHIRESAN CHETTIAR |
90C, JALAN PERGAM, 08000 SUNGAI PETANI, KEDAH, MALAYSIA. |
550220-02-6189 4842124 |
230,596.00 |
0.76 |
|
MS. HASIAH BINTI ABDULLAH |
65, JALAN SS 3/53, TAMAN SUBANG, 47300 PETALING JAYA, SELANGOR,
MALAYSIA. |
490418-03-5214 2828171 |
92,974.00 |
0.31 |
|
ZULHISHAM BIN AHMAD |
43, JALAN KEMANG, TAMAN MELODIES, 80250 JOHOR BAHRU, JOHOR, MALAYSIA. |
5564309 |
86,156.00 |
0.28 |
|
SUNIL KUMAR SHETTY + |
25, LORONG 23, TAMAN SUNGAI PETANI, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
9866037 |
52,381.00 |
0.17 |
|
RAMESHA SHEENA SUVARNA + |
7, LORONG 11, TAMAN PETANI JAYA, 08000 SUNGAI PETANI, KEDAH, MALAYSIA. |
A9007674 |
47,381.00 |
0.16 |
|
MR. KRISHNAMOORTHY A/L APPALANAIDU. |
76, JALAN ZAABA, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
461129-08-5749 4014680 |
20,000.00 |
0.07 |
|
--------------- |
------ |
|||
|
30,400,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
218620M |
MALAYSIA |
SM PHARMACEUTICALS SDN. BHD. |
100.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. KRISHNAMOORTHY A/L APPALANAIDU |
|
Address |
: |
76, JALAN ZAABA, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4014680 |
|
New IC No |
: |
461129-08-5749 |
|
Date of Birth |
: |
29/11/1946 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/05/1991 |
|
Qualification |
: |
MBBS(SRI V'TESWARA)1974 |
DIRECTOR 2
|
Name Of Subject |
: |
VYNA SHETTY |
|
Address |
: |
GEETHA HOUSE 12, HATKESH CHS 5TH RD, JUHU, MUMBAI 56, MS, INDIA,
INDIA. |
|
IC / PP No |
: |
E7852374 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
09/08/2004 |
DIRECTOR 3
|
Name Of Subject |
: |
RAMESHA SHEENA SUVARNA |
|
Address |
: |
7, LORONG 11, TAMAN PETANI JAYA, 08000 SUNGAI PETANI, KEDAH, MALAYSIA. |
|
IC / PP No |
: |
A9007674 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
09/08/2004 |
DIRECTOR 4
|
Name Of Subject |
: |
SUNIL KUMAR SHETTY |
|
Address |
: |
25, LORONG 23, TAMAN SUNGAI PETANI, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
|
IC / PP No |
: |
9866037 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/08/1996 |
DIRECTOR 5
|
Name Of Subject |
: |
DR SHARAT KUMAR KRISHNA NAIK |
|
Address |
: |
49, LORONG 5, TAMAN PETANI JAYA, 08000 SUNGAI PETANI, KEDAH, MALAYSIA. |
|
IC / PP No |
: |
H9530671 |
|
Nationality |
: |
GREENLANDER |
|
Date of Appointment |
: |
12/11/1991 |
DIRECTOR 6
|
Name Of Subject |
: |
BAVAGUTHU RAGHURAM SHETTY |
|
Address |
: |
BAVAGUTHU KAUP, UDUPI, KARNATAKA, INDIA, INDIA. |
|
IC / PP No |
: |
T526456 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
09/07/1995 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SHARAT KUMAR KRISHNA NAIK |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
RAMESHA SHEENA SUVARNA |
|
Position |
: |
FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
LOQMAN |
|
Position |
: |
HUMAN RESOURCE MANAGER |
|
|
4) |
Name of Subject |
: |
BIRADAR CHANDARASEGAR |
|
Position |
: |
PRODUCTION MANAGER |
|
AUDITOR
|
|
Auditor |
: |
GRANT THORNTON |
|
Auditor' Address |
: |
51-8-A, MENARA BHL BANK, JALAN SULTAN AHMAD SHAH, 10050 PULAU PINANG,
PULAU PINANG, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. P'NG CHIEW KEEM |
|
IC / PP No |
: |
A2095490 |
|
|
New IC No |
: |
720225-07-5130 |
|
|
Address |
: |
BUKIT KECIL 2, TAMAN SRI NIBONG, 19TH TINGKAT, 11900 BAYAN LEPAS,
PULAU PINANG, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. LEE PENG LOON |
|
IC / PP No |
: |
4092111 |
|
|
New IC No |
: |
501110-07-5149 |
|
|
Address |
: |
53, JALAN DEVA PADA, 10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
2) |
Name |
: |
EON BANK BHD |
|
3) |
Name |
: |
EXPORT-IMPORT BANK OF MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
18/05/1992 |
DEBENTURE |
BANK OF COMMERCE M BHD |
MYR 4,700,000.00 |
Unsatisfied |
|
2 |
05/03/1994 |
DEBENTURE |
BANK OF COMMERCE M BERHAD |
MYR 300,000.00 |
Unsatisfied |
|
3 |
19/03/1995 |
FIRST LEGAL CHARGE |
BANK OF COMMERCE M BERHAD |
MYR 5,000,000.00 |
Unsatisfied |
|
4 |
19/03/1995 |
SECOND LEGAL CHARGE |
BANK OF COMMERCE M BERHAD |
MYR 1,258,000.00 |
Unsatisfied |
|
5 |
19/03/1995 |
SECOND LEGAL CHARGE |
BANK OF COMMERCE M BERHAD |
MYR 1,258,000.00 |
Unsatisfied |
|
6 |
06/10/1996 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 2,032,000.00 |
Satisfied |
|
7 |
06/10/1996 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 2,032,000.00 |
Satisfied |
|
8 |
06/10/1996 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 2,032,000.00 |
Satisfied |
|
9 |
28/05/1997 |
DEED OF ASSIGNMENT |
EXPORTIMPORT BANK OF MALAYSIA BERHAD |
MYR 2,600,000.00 |
Unsatisfied |
|
10 |
18/09/1997 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 4,000,000.00 |
Unsatisfied |
|
11 |
18/09/1997 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 4,000,000.00 |
Unsatisfied |
|
12 |
27/01/1999 |
DEBENTURE |
BANK OF COMMERCE M BERHAD |
MYR 4,600,000.00 |
Unsatisfied |
|
13 |
08/05/2008 |
N/A |
EON BANK BHD |
MYR 4,000,000.00 |
Satisfied |
|
14 |
08/05/2008 |
N/A |
EON BANK BHD |
MYR 4,000,000.00 |
Satisfied |
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 |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
CHINA,INDIA,JAPAN,UNITED STATES |
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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
2% |
|
|
Domestic Markets |
: |
MALAYSIA |
||||
|
Overseas |
: |
YES |
Percentage |
: |
98% |
|
|
Export Market |
: |
ASIA |
||||
|
Credit Term |
: |
30 DAYS |
||||
|
Payment Mode |
: |
CHEQUES |
||||
|
Type of Customer |
: |
MANUFACTURING INDUSTRIES,MINISTRIES |
||||
|
No of Customer |
: |
30 |
||||
|
CUSTOMER(S) |
: |
|
||||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Competitor(s) |
: |
AIN MEDICARE SDN BHD |
|||||
|
Ownership of premises |
: |
OWNED |
|||||
|
Production Capacity |
: |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
|||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
100 |
100 |
85 |
85 |
85 |
180 |
|||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of pharmaceutical raw materials, fine chemicals and industrial
laboratory chemicals.
The Subject's product portfolio is as follows:-
* MACROLIDES - Erythromycin - COS Available, Erythromycin Propionate,
Erythromycin Estolate - COS Filed , Azithromycin
* Steroidal Products - Beclomethasone Dipropionate, Triamcinolone Acetonide,
Clobetasol Propionate
* Cardiovascular - Atenolol, Metoprolol Tartrate, Furosemide
* Anti - Viral, Bacterial, Fungal - Acyclovir, Fluconazole, Stavudine
According to the Subject, it produces about 40 to 50 types of raw materials for
the formulation of pharmaceuticals.
Besides that the Subject provides high quality customized products and services
with shorter delivery time to its customers, particularly in Macroliderange of
antibiotics.
The Subject is also packs its products in steel or plastic drums and
containers.
We were informed that the Subject is equipped with the state-of-the-art technology
coupled with highly automated production facilities, backed by an excellent
team of well-trained technical staff ensures the smooth production process and
the consistently high quality of the finished products.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
044411801 |
|
Current Telephone Number |
: |
04-4411801 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
LOT 90, SUNGAI PETANI INDUSTRIAL ESTATE,08000,SUNGAI PETANI,KEDAH. |
|
Current Address |
: |
LOT 90, SUNGAI PETANI INDUSTRIAL ESTATE, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(5.81%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(1.66%) |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The Subject
incurred losses during the year due to the inefficient control of its
operating costs. The Subject's unfavourable returns on shareholders' funds
indicate the management's inefficiency in utilising its assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
59 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
38 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 |
: |
Unfavourable |
[ |
0.54 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.00 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(0.42 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.35 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the
Subject may be vulnerable to default in servicing the interest. The Subject
was lowly geared thus it had a low financial risk. The Subject was mainly
financed by its shareholders' funds and internally generated funds. In times
of economic slowdown / downturn, the Subject being a lowly geared company,
will be able to compete better than those companies which are highly geared
in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to maintain
its competitiveness in the market. Due to its weak liquidity position, the
Subject will be faced with problems in meeting all its short term obligations
if no short term loan is obtained or additional capital injected into the
Subject. The Subject's interest cover was negative, indicating that it did
not generate sufficient income to service its interest. If its result does
not show impressive improvements or succeed obtaining short term financing or
capital injection, it may not be able to service its interest and repay the
loans. The Subject as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
|
|
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
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 |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
21001 : Manufacture of medicinal active substances to be used for
their pharmacological properties in the manufacture of medicaments |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is expected to grow by 5.5% in 2015. It will
be bolstered by strong domestic and export-oriented industries in line with growing
investment activities and favorable external demand. Moreover, in 2014, the
manufacturing sectors have spearheading growth. The manufacturing sector is
estimated to grow at a faster pace in 2014 on higher exports of electronics
and electrical (E&E) products as external demand improves. |
|
|
The manufacturing sector expanded strongly during the first half of
2014, the highest growth in three years, spurred by higher global
semiconductor sales. Value-added of the manufacturing sector expanded 7.1% during
the first half of 2014. Production of the sector rose 6.6% in the first seven
months of 2014 supported by resilient domestic demand and recovery in the
external sector during the first seven months of the years. The sales value
of manufactured products rebounded by 7.7% in the first seven months of 2014.
The strong performance of the sector was on account of higher output at 9.4%
from the domestic-oriented industries, particularly transport equipment, food
and beverage. |
|
|
The manufacturing sector continued to attract domestic and foreign
investment with investment approved by Malaysian Investment Development
Authority (MIDA) totaling RM47.4 billion during the first six months of 2014,
mainly from Japan, China and Germany. Meanwhile, the capacity utilization
rate remained steady at 80.4% during the second quarter of 2014 while average
wage per employee and productivity improved to RM2,772 per month and 5.9%,
respectively during the first seven months of 2014. Boosted by favorable
domestic economic activity and recovery in the external sector, the
manufacturing sector is expected to record a better performance with growth
of 6.4% in 2014. |
|
|
In the meantime, production of wood products rebounded by 5.1% largely
supported by higher output in the saw-milling and planning of wood segment at
25.9% during the first seven months of 2014. The positive performance was
attributed to vibrant residential and commercial construction activities
which contributed to increased use of timber frame and glued laminated timber
for cost savings compared to the use of concrete and steel. Increased demand
from major export destination such as the US, Japan and Australia for
Malaysian made furniture contributed to the higher output, particularly wooden
and cane furniture which rebounded by 2.2%. |
|
|
Production of rubber products contracted 0.3% in the first seven
months of 2014 on account of slower demand for rubber gloves and rubber
tyres. The decline in rubber tyres for vehicles was due to the weaker
external demand from the automotive industry, particularly from China. Output
of other rubber products contracted 3.8% following the product shift from
rubber-based to plastics, silicones and metal alloys in the manufacture of
medical devices. |
|
|
Besides, exports of manufactured products are expected to grow 6.1% in
2014 boosted by the growing demand from advanced economies. However, during
the first seven months of 2014, manufactured exports surged 11.4%. The robust
growth was buoyed by strengthening demand in the US and EU, reflecting
significant exposure of Malaysian exports to the economic performance in the
advance economies. The strength in export was broad-based with robust growth
in both E&E and non- E&E subsectors. |
|
|
Under budget 2015, the Government will provide incentive in the form
of capital allowance on automation expenditure to encourage automation in the
manufacturing sector, which may help in the manufacturing sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
SM BIOMED SDN. BHD. |
|
Financial Year
End |
2013-12-31 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
2009-06-30 |
|
Months |
18 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
91,563,356 |
70,820,374 |
65,611,076 |
57,313,323 |
65,749,214 |
|
Other Income |
203,934 |
245,619 |
172,047 |
38,342 |
472,322 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
91,767,290 |
71,065,993 |
65,783,123 |
57,351,665 |
66,221,536 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(2,586,674) |
1,230,151 |
588,246 |
315,961 |
2,194,211 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(2,586,674) |
1,230,151 |
588,246 |
315,961 |
2,194,211 |
|
Taxation |
35,000 |
(494,000) |
(433,000) |
(140,119) |
(452,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(2,551,674) |
736,151 |
155,246 |
175,842 |
1,742,211 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
13,260,904 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
13,260,904 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
13,518,680 |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
13,518,680 |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
391,711 |
122,568 |
117,195 |
- |
- |
|
Bankers' acceptance |
162,234 |
185,766 |
397,480 |
- |
- |
|
Hire purchase |
66,956 |
30,680 |
49,654 |
- |
- |
|
Term loan / Borrowing |
162,565 |
291,821 |
291,330 |
- |
- |
|
Trust receipts |
812,808 |
635,262 |
333,886 |
- |
- |
|
Others |
231,608 |
230,064 |
- |
1,350,094 |
1,514,426 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,827,882 |
1,496,161 |
1,189,545 |
1,350,094 |
1,514,426 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
SM BIOMED SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
39,485,941 |
33,477,091 |
36,030,713 |
33,642,462 |
33,326,232 |
|
INTANGIBLE ASSETS |
|||||
|
Deferred/Expenditure carried forward |
3,658,887 |
6,429,921 |
8,960,587 |
11,301,667 |
13,619,511 |
|
Goodwill on consolidation |
2,441,972 |
2,686,170 |
2,930,368 |
3,174,566 |
3,418,764 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
6,100,859 |
9,116,091 |
11,890,955 |
14,476,233 |
17,038,275 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
45,586,800 |
42,593,182 |
47,921,668 |
48,118,695 |
50,364,507 |
|
Stocks |
12,880,734 |
8,512,334 |
7,093,326 |
7,354,836 |
6,253,305 |
|
Trade debtors |
14,847,167 |
20,066,146 |
17,377,991 |
13,915,307 |
13,285,174 |
|
Other debtors, deposits & prepayments |
239,838 |
608,519 |
555,202 |
196,792 |
539,183 |
|
Short term deposits |
- |
- |
- |
- |
30,000 |
|
Cash & bank balances |
116,965 |
1,837,563 |
306,171 |
377,709 |
1,312,597 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
28,084,704 |
31,024,562 |
25,332,690 |
21,844,644 |
21,420,259 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
73,671,504 |
73,617,744 |
73,254,358 |
69,963,339 |
71,784,766 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
9,590,592 |
5,404,128 |
4,164,821 |
4,280,445 |
6,216,406 |
|
Other creditors & accruals |
2,927,918 |
1,681,876 |
8,027,498 |
5,070,812 |
2,556,940 |
|
Hire purchase & lease creditors |
291,748 |
234,098 |
308,257 |
288,698 |
483,855 |
|
Bank overdraft |
3,800,765 |
2,979,977 |
1,476,710 |
1,291,353 |
1,685,277 |
|
Short term borrowings/Term loans |
383,835 |
1,161,984 |
1,058,976 |
1,058,511 |
1,682,073 |
|
Other borrowings |
10,776,866 |
9,749,000 |
7,105,840 |
782,943 |
2,454,905 |
|
Bill & acceptances payable |
- |
2,613,000 |
6,556,000 |
10,380,000 |
5,759,000 |
|
Amounts owing to holding company |
13,266 |
13,266 |
13,266 |
13,266 |
13,266 |
|
Amounts owing to director |
247,216 |
122,196 |
151,235 |
164,669 |
221,118 |
|
Provision for taxation |
2,969 |
2,969 |
2,969 |
2,969 |
8,996 |
|
Other liabilities |
- |
- |
- |
2,394,421 |
4,420,872 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
28,035,175 |
23,962,494 |
28,865,572 |
25,728,087 |
25,502,708 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
49,529 |
7,062,068 |
(3,532,882) |
(3,883,443) |
(4,082,449) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
45,636,329 |
49,655,250 |
44,388,786 |
44,235,252 |
46,282,058 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
30,400,000 |
30,400,000 |
25,000,000 |
25,000,000 |
25,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
30,400,000 |
30,400,000 |
25,000,000 |
25,000,000 |
25,000,000 |
|
Retained profit/(loss) carried forward |
13,518,680 |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
13,518,680 |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
43,918,680 |
46,470,354 |
40,334,203 |
40,178,957 |
40,003,115 |
|
Long term loans |
- |
1,466,560 |
2,713,313 |
2,943,201 |
5,237,003 |
|
Hire purchase creditors |
233,649 |
199,336 |
316,270 |
521,094 |
589,940 |
|
Deferred taxation |
1,484,000 |
1,519,000 |
1,025,000 |
592,000 |
452,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,717,649 |
3,184,896 |
4,054,583 |
4,056,295 |
6,278,943 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
45,636,329 |
49,655,250 |
44,388,786 |
44,235,252 |
46,282,058 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
SM BIOMED SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
116,965 |
1,837,563 |
306,171 |
377,709 |
1,342,597 |
|
Net Liquid Funds |
(3,683,800) |
(3,755,414) |
(7,726,539) |
(11,293,644) |
(6,101,680) |
|
Net Liquid Assets |
(12,831,205) |
(1,450,266) |
(10,626,208) |
(11,238,279) |
(10,335,754) |
|
Net Current Assets/(Liabilities) |
49,529 |
7,062,068 |
(3,532,882) |
(3,883,443) |
(4,082,449) |
|
Net Tangible Assets |
39,535,470 |
40,539,159 |
32,497,831 |
29,759,019 |
29,243,783 |
|
Net Monetary Assets |
(14,548,854) |
(4,635,162) |
(14,680,791) |
(15,294,574) |
(16,614,697) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
15,486,863 |
18,403,955 |
19,535,366 |
17,265,800 |
17,892,053 |
|
Total Liabilities |
29,752,824 |
27,147,390 |
32,920,155 |
29,784,382 |
31,781,651 |
|
Total Assets |
73,671,504 |
73,617,744 |
73,254,358 |
69,963,339 |
71,784,766 |
|
Net Assets |
45,636,329 |
49,655,250 |
44,388,786 |
44,235,252 |
46,282,058 |
|
Net Assets Backing |
43,918,680 |
46,470,354 |
40,334,203 |
40,178,957 |
40,003,115 |
|
Shareholders' Funds |
43,918,680 |
46,470,354 |
40,334,203 |
40,178,957 |
40,003,115 |
|
Total Share Capital |
30,400,000 |
30,400,000 |
25,000,000 |
25,000,000 |
25,000,000 |
|
Total Reserves |
13,518,680 |
16,070,354 |
15,334,203 |
15,178,957 |
15,003,115 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.00 |
0.08 |
0.01 |
0.01 |
0.05 |
|
Liquid Ratio |
0.54 |
0.94 |
0.63 |
0.56 |
0.59 |
|
Current Ratio |
1.00 |
1.29 |
0.88 |
0.85 |
0.84 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
51 |
44 |
39 |
47 |
35 |
|
Debtors Ratio |
59 |
103 |
97 |
89 |
74 |
|
Creditors Ratio |
38 |
28 |
23 |
27 |
35 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.35 |
0.40 |
0.48 |
0.43 |
0.45 |
|
Liabilities Ratio |
0.68 |
0.58 |
0.82 |
0.74 |
0.79 |
|
Times Interest Earned Ratio |
(0.42) |
1.82 |
1.49 |
1.23 |
2.45 |
|
Assets Backing Ratio |
1.30 |
1.33 |
1.30 |
1.19 |
1.17 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(2.83) |
1.74 |
0.90 |
0.55 |
3.34 |
|
Net Profit Margin |
(2.79) |
1.04 |
0.24 |
0.31 |
2.65 |
|
Return On Net Assets |
(1.66) |
5.49 |
4.01 |
3.77 |
8.01 |
|
Return On Capital Employed |
(1.36) |
4.40 |
3.06 |
2.76 |
5.66 |
|
Return On Shareholders' Funds/Equity |
(5.81) |
1.58 |
0.38 |
0.44 |
4.36 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
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.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.