|
Report No. : |
304046 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA PRECISION TURNING AND ENGINEERING SDN.BHD. |
|
|
|
|
Registered Office : |
Suite S-21-H, Menara Northam, 55, Jalan Sultan Ahmad Shah, 21st Floor,
10050 Pulau Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.02.1985 |
|
|
|
|
Com. Reg. No.: |
135684-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Metal Turning Precision Components |
|
|
|
|
No. of Employee : |
500 [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 : |
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 – 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. |
: |
135684-D |
|
COMPANY NAME |
: |
ALPHA PRECISION TURNING AND ENGINEERING SDN.BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
25/02/1985 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
SUITE S-21-H, MENARA NORTHAM, 55, JALAN
SULTAN AHMAD SHAH, 21ST FLOOR, 10050 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
LOT 40, LORONG PERUSAHAAN 1, KAWASAN
PERINDUSTRIAN KULIM, 09000 KULIM, KEDAH, MALAYSIA. |
|
TEL.NO. |
: |
04-4891891 |
|
FAX.NO. |
: |
04-4891885 |
|
WEB SITE |
: |
WWW.APTESB.COM |
|
CONTACT PERSON |
: |
LIM THAM CHENG ( MANAGING DIRECTOR ) |
|
INDUSTRY CODE |
: |
25 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF METAL TURNING PRECISION
COMPONENTS |
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 11,262,808.00 DIVIDED INTO |
|
SALES |
: |
MYR 71,106,456 [2013] |
|
NET WORTH |
: |
MYR 112,850,961 [2013] |
|
STAFF STRENGTH |
: |
500 [2015] |
|
BANKER (S) |
: |
CIMB BANK BHD |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
REGULAR |
|
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
of metal turning precision components.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
28/05/2014 |
MYR 25,000,000.00 |
MYR 11,262,808.00 |
|
17/02/2001 |
MYR 25,000,000.00 |
MYR 10,301,269.00 |
|
30/12/1998 |
MYR 5,000,000.00 |
MYR 2,000,000.00 |
|
30/12/1996 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
12/04/1995 |
MYR 750,000.00 |
MYR 734,000.00 |
|
25/08/1994 |
MYR 750,000.00 |
MYR 724,000.00 |
|
24/05/1991 |
MYR 750,000.00 |
MYR 544,000.00 |
|
31/12/1990 |
MYR 750,000.00 |
MYR 344,000.00 |
|
17/09/1988 |
MYR 300,000.00 |
MYR 228,000.00 |
|
22/06/1987 |
MYR 200,000.00 |
MYR 188,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR. LIM THAM CHENG + |
17, SOLOK BATU UBAN 4, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
510414-07-5345
4240698 |
3,070,836.00 |
27.27 |
|
MR. CHUAH HWA BEE + |
37, LEBUH BUKIT JAMBUL, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
550520-07-5839
4851728 |
2,765,986.00 |
24.56 |
|
MR. LEONG YUE CHOY + |
46, JALAN PANTAI JERJAK 15, SUNGAI NIBONG, BAYAN LEPAS, 11900 BAYAN
LEPAS, PULAU PINANG, MALAYSIA. |
490306-07-5115 0955307 |
1,751,641.00 |
15.55 |
|
MS. ENG SOO KEAW @ OOI SOO KEOW + |
56, JALAN MOONLIGHT BAY, 11100 BATU FERINGGI, PULAU PINANG, MALAYSIA. |
481018-07-5124
0312560 |
902,278.00 |
8.01 |
|
MR. TAN YOK KEEN @ TAN YOKE KING + |
102, JALAN SATU, CANGKAT MINDEN, 11700 GELUGOR, PULAU PINANG,
MALAYSIA. |
450311-09-5149
3148118 |
648,989.00 |
5.76 |
|
PERBADANAN NASIONAL BERHAD |
MALAYSIA |
9157K |
2,123,078.00 |
18.85 |
|
--------------- |
------ |
|||
|
11,262,808.00 |
100.00 |
|||
|
============ |
===== |
*Also Director
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
225823D |
MALAYSIA |
TAC PRECISION (M) SDN. BHD. |
100.00 |
26/11/2014 |
|
206619K |
MALAYSIA |
NTA MACHINING (M) SDN. BHD. |
30.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. YEW KOK PENG |
|
Address |
: |
115, JALAN MAWAR, TAMAN JAYA, 14000 BUKIT MERTAJAM, PULAU PINANG,
MALAYSIA. |
|
IC / PP No |
: |
5851830 |
|
New IC No |
: |
600120-02-5333 |
|
Date of Birth |
: |
20/01/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/06/2006 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. P'NG HUN SUN |
|
Address |
: |
19 M, TAMAN SRI DAMAI, LEBUH RAYA BATU LANCANG, GROUND FLOOR, 11600
PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
3643322 |
|
New IC No |
: |
500601-07-5309 |
|
Date of Birth |
: |
01/06/1950 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/09/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
DATUK SHAH HEADAN BIN AYOOB HUSSAIN SHAH |
|
Address |
: |
23, LORONG SUNGAI RUSA 1, TAMAN MUTIARA, SUNGAI RUSA, 11010, MALAYSIA. |
|
IC / PP No |
: |
7323623 |
|
New IC No |
: |
640202-07-5605 |
|
Date of Birth |
: |
02/02/1964 |
|
Nationality |
: |
MALAYSIAN MALAY |
|
Date of Appointment |
: |
15/01/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. KENNY P'NG CHUN LOON |
|
Address |
: |
2B-8-7, LEBUH TUNKU KUDIN 2, BAYSWATER RESORT, CONDOMINIUM, 11700
GELUGOR, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A3558244 |
|
New IC No |
: |
761229-07-5577 |
|
Date of Birth |
: |
29/12/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/05/2014 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. MOHD AMY AZHAR BIN HAJI MOHD HARIF PROF MADYA |
|
Address |
: |
104, JALAN LAGENDA 35, LAGENDA HEIGHTS, 08000 SUNGAI PETANI, KEDAH,
MALAYSIA. |
|
IC / PP No |
: |
A2367197 |
|
New IC No |
: |
730301-08-6245 |
|
Date of Birth |
: |
01/03/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/01/2014 |
DIRECTOR 6
|
Name Of Subject |
: |
MS. NG FOO LANG |
|
Address |
: |
37, LEBUH BUKIT JAMBUL, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
4818451 |
|
New IC No |
: |
550416-07-5038 |
|
Date of Birth |
: |
16/04/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
20/11/2014 |
DIRECTOR 7
|
Name Of Subject |
: |
MR. TAN PING CHET |
|
Address |
: |
23-22-2, ALPINE TOWER, TINGKAT BUKIT JAMBUL SATU, 11950 BAYAN BARU,
PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A3071218 |
|
New IC No |
: |
750414-07-5575 |
|
Date of Birth |
: |
14/04/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
20/11/2014 |
DIRECTOR 8
|
Name Of Subject |
: |
MS. LEONG CHAN KAY |
|
Address |
: |
46, JALAN PANTAI JEREJAK 15, SUNGAI NIBONG, 11900 BAYAN LEPAS, PULAU
PINANG, MALAYSIA. |
|
IC / PP No |
: |
A3787913 |
|
New IC No |
: |
771123-07-5850 |
|
Date of Birth |
: |
23/11/1977 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
20/11/2014 |
DIRECTOR 9
|
Name Of Subject |
: |
MR. TAN YOK KEEN @ TAN YOKE KING |
|
Address |
: |
102, JALAN SATU, CANGKAT MINDEN, 11700 GELUGOR, PULAU PINANG,
MALAYSIA. |
|
IC / PP No |
: |
3148118 |
|
New IC No |
: |
450311-09-5149 |
|
Date of Birth |
: |
11/03/1945 |
|
Nationality |
: |
MALAYSIAN CHINESE |
|
Date of Appointment |
: |
07/04/2000 |
DIRECTOR 10
|
Name Of Subject |
: |
MS. ENG SOO KEAW @ OOI SOO KEOW |
|
Address |
: |
56, JALAN MOONLIGHT BAY, 11100 BATU FERINGGI, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
0312560 |
|
New IC No |
: |
481018-07-5124 |
|
Date of Birth |
: |
18/10/1948 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/04/2000 |
DIRECTOR 11
|
Name Of Subject |
: |
MR. LEONG YUE CHOY |
|
Address |
: |
46, JALAN PANTAI JERJAK 15, SUNGAI NIBONG, BAYAN LEPAS, 11900 BAYAN
LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
0955307 |
|
New IC No |
: |
490306-07-5115 |
|
Date of Birth |
: |
06/03/1949 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
21/09/2006 |
DIRECTOR 12
|
Name Of Subject |
: |
MR. CHUAH HWA BEE |
|
Address |
: |
37, LEBUH BUKIT JAMBUL, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
4851728 |
|
New IC No |
: |
550520-07-5839 |
|
Date of Birth |
: |
20/05/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/08/2006 |
DIRECTOR 13
|
Name Of Subject |
: |
MR. LIM THAM CHENG |
|
Address |
: |
17, SOLOK BATU UBAN 4, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
4240698 |
|
New IC No |
: |
510414-07-5345 |
|
Date of Birth |
: |
14/04/1951 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
25/02/1985 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LIM THAM CHENG |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
YEW KOK PENG |
|
Position |
: |
ACCOUNT MANAGER |
|
|
3) |
Name of Subject |
: |
KHOR SWEE LEE |
|
Position |
: |
MARKETING MANAGER |
AUDITOR
|
|
Auditor |
: |
CROWE HORWATH |
|
Auditor' Address |
: |
17.01, MENARA BOUSTEAD PENANG, 39, JALAN SULTAN AHMAD SHAH, 10050
PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. LEE MEI MEI |
|
IC / PP No |
: |
A0359638 |
|
|
New IC No |
: |
660324-07-5644 |
|
|
Address |
: |
35-B ZOO ROAD, 11500 AYER ITAM, PULAU PINANG, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. ANGELINA CHEAH GAIK SUAN |
|
IC / PP No |
: |
A2557331 |
|
|
New IC No |
: |
731125-07-5284 |
|
|
Address |
: |
42-1121 TIARA VIEW, JALAN LOH POH HENG, 11200 TANJONG TOKONG, PULAU
PINANG, MALAYSIA. |
|
BANKING
|
Banking relations are maintained
principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
ENCUMBRANCE
(S)
|
|
|||||
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
|
1 |
15/05/1990 |
N/A |
BANK OF COMMERCE BHD |
MYR 300,000.00 |
Unsatisfied |
|
|
2 |
19/03/1991 |
PRINCIPAL SECOND
DEBENTURE |
BANK OF COMMERCE BERHAD |
MYR 200,000.00 |
Unsatisfied |
|
|
3 |
10/07/1992 |
PRINCIPAL THIRD
DEBENTURE |
BANK OF COMMERCE (M) BERHAD |
MYR 200,000.00 |
Unsatisfied |
|
|
4 |
08/12/1993 |
DEBENTURE |
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR 620,000.00 |
Satisfied |
|
|
5 |
29/01/1994 |
FOURTH DEBENTURE
AND COLLATERAL SUPPLEMENTARY LOAN AGREEMENT |
BANK OF COMMERCE M BERHAD |
MYR 300,000.00 |
Unsatisfied |
|
|
6 |
22/06/1994 |
CREATING OR
EVIDENCING THE CHARGE |
BANK OF COMMERCE M BHD |
MYR 2,500,000.00 |
Unsatisfied |
|
|
7 |
22/06/1994 |
DEBENTURE |
BANK OF COMMERCE M BHD |
MYR 1,500,000.00 |
Unsatisfied |
|
|
8 |
29/06/1994 |
DEBENTURE |
BANK OF COMMERCE M BHD |
MYR 200,000.00 |
Unsatisfied |
|
|
9 |
29/06/1994 |
CREATING OR
EVIDENCING THE CHARGE |
BANK OF COMMERCE M BHD |
MYR 200,000.00 |
Unsatisfied |
|
|
10 |
28/07/1994 |
N/A |
MALAYSIAN INDS DEV FINANCE BHD |
MYR 620,000.00 |
Satisfied |
|
|
11 |
19/12/1996 |
DEED OF
DEBENTURE AND COLLATERAL SUPPLEMENTAL AGREEMENT |
BANK OF COMMERCE M BHD |
MYR 1,300,000.00 |
Unsatisfied |
|
|
12 |
12/07/1997 |
OPEN CHARGE |
BANK KERJASAMA RAKYAT MALAYSA BHD |
MYR 1.00 |
Satisfied |
|
|
13 |
17/10/1998 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
|
14 |
31/03/2005 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 20,000,006.00 |
Unsatisfied |
|
|
15 |
24/08/2011 |
FACILITY AGREEMENT,
SUBSIDIARY SUPPLEMENTAL DEED OF ASSIGNMENT AND SUBSIDIARY LEGAL CHARGE |
CIMB BANK BERHAD |
MYR 6,500,000.00 |
Unsatisfied |
|
|
16 |
30/01/2012 |
FIRST PARTY
FOURTH LEGAL CHARGE & ANNEXURE, FIRST PARTY FOURTH LEGAL CHARGE & ANNEXURE
AND SUPPLEMENTAL DEED OF ASSIGNMENT |
CIMB BANK BERHAD |
MYR 3,000,000.00 |
Unsatisfied |
|
|
17 |
22/05/2013 |
FIRST PARTY
NINTH DEBENTURE |
CIMB BANK BERHAD |
MYR 8,010,000.00 |
Unsatisfied |
|
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 |
Percentage |
: |
60% |
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Import Countries |
: |
CHINA,KOREA,EUROPE |
|||
The Subject refused to provide any name
of trade/service supplier and we are unable to conduct any trade enquiry.
However, from financial historical data we conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
MULTINATIONAL COMPANIES,FREE TRADE ZONE (FTZ) COMPANIES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Award |
: |
1 ) MS ISO 9001 : 2000 Year :1997 |
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE |
|
|
Ownership of premises |
: |
OWNED |
|
|
|
|
|
|
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 |
500 |
500 |
500 |
360 |
360 |
360 |
|||
|
Branch |
: |
YES |
Other Information:
The
Subject is principally engaged in the (as a / as an) manufacturing of metal turning
precision components.
The Subject's products range are includes as follows:
* Hard disc drive and watch industries
* Engine components for the automotive and motorcycle industries
* Stainless steel 316 connectors and valve components for the oil and gas
industries
* Spindles for handpower tools
The Subject's products are used in various industries including automotive,
motorcycle, electrical and electronics and oil and gas.
The Subject utilizes the advanced automated and semi-automates machineries
to ensure production of high quality products.
The designs of the products are
custom-made. However the Subject also provides consultation on the designs if
required by its customers.
CURRENT
INVESTIGATION
|
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
044891891 |
|
Current Telephone Number |
: |
04-4891891 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
LOT 2 A KULIM INDUSTRIAL ESTATE JALAN LUNAS 09000 KULIM KEDAH MALAYSIA |
|
Current Address |
: |
LOT 40, LORONG PERUSAHAAN 1, KAWASAN PERINDUSTRIAN KULIM, 09000 KULIM,
KEDAH, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
FINANCIAL
ANALYSIS
|
We contacted one of the staff from the Subject and she provided some
information.
The address provided belongs to the Subject's factory also.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.90% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.35% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
dip in profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
113 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
102 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
34 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 debtors ratio
was high. The Subject should tighten its credit control and improve its
collection period. 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 |
[ |
2.69 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.56 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 |
: |
Favourable |
[ |
67.39 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.04 Times |
] |
|
|
The interest cover showed that the Subject was able to service the interest.
The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. 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 had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the Subject's
profit margin. 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. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. 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 : STRONG |
||||||
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 |
INDUSTRY
ANALYSIS
|
|
|
MSIC CODE |
|
|
25 : MANUFACTURE OF FABRICATED METAL PRODUCTS EXCEPT MACHINERY AND EQUIPMENT |
|
|
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
|
|
Incorporated in 1985, the Subject is a
Private Limited company, focusing on manufacturing of metal turning precision
components. The Subject has been in business for over two decades. It has
built up a strong clientele base and good 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 11,262,808 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. We considered that the
Subject's business position in the market is much dependent on the efforts of
its directors. 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. 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 promptly. |
PROFIT AND
LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
ALPHA PRECISION
TURNING AND ENGINEERING 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 |
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 |
71,106,456 |
64,239,854 |
63,788,368 |
51,160,810 |
36,072,990 |
|
Other Income |
5,018,700 |
2,293,649 |
3,243,304 |
2,369,326 |
1,731,862 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
76,125,156 |
66,533,503 |
67,031,672 |
53,530,136 |
37,804,852 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
15,546,015 |
11,517,551 |
8,426,348 |
8,619,945 |
5,560,811 |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
1,504,429 |
9,705,496 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
17,050,444 |
21,223,047 |
8,426,348 |
8,619,945 |
5,560,811 |
|
Taxation |
(3,626,276) |
(2,714,612) |
(2,538,347) |
(1,046,856) |
(353,768) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
13,424,168 |
18,508,435 |
5,888,001 |
7,573,089 |
5,207,043 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
87,144,170 |
70,325,156 |
65,563,436 |
63,621,751 |
60,667,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
87,144,170 |
70,325,156 |
65,563,436 |
63,621,751 |
60,667,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
100,568,338 |
88,833,591 |
71,451,437 |
71,194,840 |
65,874,313 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(3,378,842) |
(1,689,421) |
(1,126,281) |
(5,631,404) |
(2,252,562) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
97,189,496 |
87,144,170 |
70,325,156 |
65,563,436 |
63,621,751 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
256,829 |
276,010 |
51,952 |
4,080 |
67,709 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
256,829 |
276,010 |
51,952 |
4,080 |
67,709 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
|
ALPHA PRECISION TURNING
AND ENGINEERING SDN.BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
43,933,022 |
42,329,773 |
39,992,610 |
31,673,951 |
25,712,004 |
|
Associated companies |
34,833,316 |
32,019,258 |
23,705,002 |
28,347,551 |
27,589,340 |
|
Others |
- |
- |
- |
- |
1,009,361 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
34,833,316 |
32,019,258 |
23,705,002 |
28,347,551 |
28,598,701 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
78,766,338 |
74,349,031 |
63,697,612 |
60,021,502 |
54,310,705 |
|
Stocks |
21,927,267 |
20,964,731 |
17,034,400 |
12,855,441 |
10,158,425 |
|
Trade debtors |
19,841,133 |
17,639,144 |
18,703,339 |
13,087,728 |
10,184,954 |
|
Other debtors, deposits & prepayments |
895,868 |
1,083,092 |
1,010,426 |
690,602 |
604,316 |
|
Short term deposits |
5,561,704 |
1,261,704 |
761,704 |
758,093 |
7,889,507 |
|
Cash & bank balances |
5,384,581 |
4,266,433 |
981,544 |
3,391,701 |
4,083,873 |
|
Others |
33,875 |
2,600,361 |
- |
135,451 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
53,644,428 |
47,815,465 |
38,491,413 |
30,919,016 |
32,921,075 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
132,410,766 |
122,164,496 |
102,189,025 |
90,940,518 |
87,231,780 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
6,604,478 |
6,602,432 |
6,416,998 |
4,914,344 |
3,442,554 |
|
Other creditors & accruals |
1,954,212 |
2,079,482 |
1,305,599 |
1,639,371 |
1,066,555 |
|
Short term borrowings/Term loans |
1,509,760 |
1,441,989 |
846,647 |
- |
572,805 |
|
Provision for taxation |
1,701,525 |
1,725,519 |
1,662,437 |
1,527 |
657,418 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
11,769,975 |
11,849,422 |
10,231,681 |
6,555,242 |
5,739,332 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
41,874,453 |
35,966,043 |
28,259,732 |
24,363,774 |
27,181,743 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
120,640,791 |
110,315,074 |
91,957,344 |
84,385,276 |
81,492,448 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
|
RESERVES |
|||||
|
Share premium |
3,974,304 |
3,974,304 |
3,974,304 |
3,974,304 |
3,974,304 |
|
Exchange equalisation/fluctuation reserve |
424,353 |
(1,185,276) |
(994,036) |
(136,272) |
(441,415) |
|
Retained profit/(loss) carried forward |
97,189,496 |
87,144,170 |
70,325,156 |
65,563,436 |
63,621,751 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
101,588,153 |
89,933,198 |
73,305,424 |
69,401,468 |
67,154,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
112,850,961 |
101,196,006 |
84,568,232 |
80,664,276 |
78,417,448 |
|
Long term loans |
3,296,830 |
4,807,068 |
3,448,112 |
- |
- |
|
Deferred taxation |
4,493,000 |
4,312,000 |
3,941,000 |
3,721,000 |
3,075,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
7,789,830 |
9,119,068 |
7,389,112 |
3,721,000 |
3,075,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
120,640,791 |
110,315,074 |
91,957,344 |
84,385,276 |
81,492,448 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
ALPHA PRECISION
TURNING AND ENGINEERING SDN.BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
10,946,285 |
5,528,137 |
1,743,248 |
4,149,794 |
11,973,380 |
|
Net Liquid Funds |
10,946,285 |
5,528,137 |
1,743,248 |
4,149,794 |
11,973,380 |
|
Net Liquid Assets |
19,947,186 |
15,001,312 |
11,225,332 |
11,508,333 |
17,023,318 |
|
Net Current Assets/(Liabilities) |
41,874,453 |
35,966,043 |
28,259,732 |
24,363,774 |
27,181,743 |
|
Net Tangible Assets |
120,640,791 |
110,315,074 |
91,957,344 |
84,385,276 |
81,492,448 |
|
Net Monetary Assets |
12,157,356 |
5,882,244 |
3,836,220 |
7,787,333 |
13,948,318 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
4,806,590 |
6,249,057 |
4,294,759 |
0 |
572,805 |
|
Total Liabilities |
19,559,805 |
20,968,490 |
17,620,793 |
10,276,242 |
8,814,332 |
|
Total Assets |
132,410,766 |
122,164,496 |
102,189,025 |
90,940,518 |
87,231,780 |
|
Net Assets |
120,640,791 |
110,315,074 |
91,957,344 |
84,385,276 |
81,492,448 |
|
Net Assets Backing |
112,850,961 |
101,196,006 |
84,568,232 |
80,664,276 |
78,417,448 |
|
Shareholders' Funds |
112,850,961 |
101,196,006 |
84,568,232 |
80,664,276 |
78,417,448 |
|
Total Share Capital |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
11,262,808 |
|
Total Reserves |
101,588,153 |
89,933,198 |
73,305,424 |
69,401,468 |
67,154,640 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.93 |
0.47 |
0.17 |
0.63 |
2.09 |
|
Liquid Ratio |
2.69 |
2.27 |
2.10 |
2.76 |
3.97 |
|
Current Ratio |
4.56 |
4.04 |
3.76 |
4.72 |
5.74 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
113 |
119 |
97 |
92 |
103 |
|
Debtors Ratio |
102 |
100 |
107 |
93 |
103 |
|
Creditors Ratio |
34 |
38 |
37 |
35 |
35 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.04 |
0.06 |
0.05 |
0.00 |
0.01 |
|
Liabilities Ratio |
0.17 |
0.21 |
0.21 |
0.13 |
0.11 |
|
Times Interest Earned Ratio |
67.39 |
77.89 |
163.19 |
2,113.73 |
83.13 |
|
Assets Backing Ratio |
10.71 |
9.79 |
8.16 |
7.49 |
7.24 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
23.98 |
33.04 |
13.21 |
16.85 |
15.42 |
|
Net Profit Margin |
18.88 |
28.81 |
9.23 |
14.80 |
14.43 |
|
Return On Net Assets |
14.35 |
19.49 |
9.22 |
10.22 |
6.91 |
|
Return On Capital Employed |
14.35 |
19.49 |
9.22 |
10.22 |
6.91 |
|
Return On Shareholders' Funds/Equity |
11.90 |
18.29 |
6.96 |
9.39 |
6.64 |
|
Dividend Pay Out Ratio (Times) |
0.25 |
0.09 |
0.19 |
0.74 |
0.43 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.61 |
|
|
1 |
Rs. 93.49 |
|
Euro |
1 |
Rs. 71.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.