|
Report No. : |
304870 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
YENHER AGRO-PRODUCTS SDN. BHD. |
|
|
|
|
Registered Office : |
1172, Jalan Gereja, Permatang Tinggi Village, Simpang Ampat, 14100
Simpang Ampat, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
07.08.1991 |
|
|
|
|
Com. Reg. No.: |
222455-P |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
· Engaged in manufacturing and trading of Animal Feeds made of Soya and Maize. · Subject also offers Feed Additives, Animal Health Products, Livestock Equipment include Hencoop, Feeder, Castiron, Waste Water Treatment, Genetic Suppliers & Milk Powder |
|
|
|
|
No of Employees : |
50 [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 : |
Unknown |
|
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 |
|
REGISTRATION NO. |
: |
222455-P |
||||
|
COMPANY NAME |
: |
YENHER
AGRO-PRODUCTS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/08/1991 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1172, JALAN GEREJA, PERMATANG TINGGI
VILLAGE, SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS
SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-5880887 |
||||
|
FAX.NO. |
: |
04-5880928 |
||||
|
WEB SITE |
: |
|||||
|
CONTACT PERSON |
: |
CHENG MOOH TAT ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
10800 |
||||
|
PRINCIPAL ACTIVITY |
: |
·
Engaged
in manufacturing and trading of Animal Feeds made of Soya and Maize. ·
Subject
also offers Feed Additives, Animal Health Products, Livestock Equipment include
Hencoop, Feeder, Castiron, Waste Water Treatment, Genetic Suppliers &
Milk Powder |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
50 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
Unknown |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
PROPOSED CREDIT LIMIT |
: |
MYR 492,000 (USD 164,000) |
||||
The Subject is an exempt private company which is allowed to have a minimum of two and a maximum of twenty shareholders and all the shareholders must be individuals. An exempt company is a type of private limited company. 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, suing or be sued by other companies. The Subject is governed by the Companies Act, 1965 and must file in its annual return. The Subject need not file in its financial statements but it has to file in a document duly signed by its director in charge of its finance, the secretary and its auditor stating that the Subject is able to meet all its obligations as and when they fall due. Although the Subject is not required to file in its financial statements, it also has to prepare its financial account which must be presented at the Annual General Meeting.
The Subject is principally engaged in the (as a / as an) manufacturing and trading of animal feeds.
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 5,000,000.00 |
MYR 2,000,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. CHENG MOOH TAT + |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
630324-07-5639 7019090 |
970,000.00 |
48.50 |
|
MR. CHENG MOOH KHENG + |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
680801-07-5195 A1055211 |
492,000.00 |
24.60 |
|
MR. CHENG MOOH CHYE + |
1628, JALAN IKS SIMPANG AMPAT, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
581117-07-5611 5537598 |
492,000.00 |
24.60 |
|
MR. CHENG MOOH LIM |
1172 PMTG.TINGGI, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
660805-07-5127 A0460150 |
46,000.00 |
2.30 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHENG MOOH CHYE |
|
Address |
: |
1628, JALAN IKS SIMPANG AMPAT, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
5537598 |
|
New IC No |
: |
581117-07-5611 |
|
Date of Birth |
: |
17/11/1958 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/08/1993 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. CHENG MOOH KHENG |
|
Address |
: |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A1055211 |
|
New IC No |
: |
680801-07-5195 |
|
Date of Birth |
: |
01/08/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/08/1993 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. CHENG MOOH TAT |
|
Address |
: |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
7019090 |
|
New IC No |
: |
630324-07-5639 |
|
Date of Birth |
: |
24/03/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/08/1991 |
|
1) |
Name of Subject |
: |
CHENG MOOH TAT |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
TEOH MOOI TENG |
|
Position |
: |
FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
CHENG MOOH KHENG |
|
Position |
: |
MARKETING DIRECTOR |
|
|
Auditor |
: |
K.B.WONG & CO |
|
Auditor' Address |
: |
2-5-33, HTC, 2, GAT LEBUH MACALLUM, 10300 GEORGE TOWN, PULAU PINANG, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. KHONG SIONG WEI |
|
IC / PP No |
: |
A3764386 |
|
|
New IC No |
: |
770813-14-5049 |
|
|
Address |
: |
32, LINGKARAN MERU VALLEY 1A, TAMAN PERANGINAN LEMBAH MERU, 30020 IPOH, PERAK, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. CHUAH LAY NAH |
|
IC / PP No |
: |
A3200215 |
|
|
New IC No |
: |
750420-07-5600 |
|
|
Address |
: |
20, LORONG GAMELAN 2, TAMAN GEMELAN, 14200 SUNGAI BAKAP, PULAU PINANG, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
3) |
Name |
: |
RHB BANK BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
03/06/1993 |
MEMO OF DEPOSIT |
KWONG YIK BANK BERHAD |
MYR 100,000.00 |
Unsatisfied |
|
2 |
27/05/1994 |
N/A |
SOUTHERN BANK BERHAD |
MYR 70,000.00 |
Satisfied |
|
3 |
27/05/1994 |
N/A |
SOUTHERN BANK BERHAD |
MYR 70,000.00 |
Satisfied |
|
4 |
15/02/1996 |
N/A |
KWONG YIK BANK BERHAD |
MYR 700,000.00 |
Unsatisfied |
|
4P |
15/02/1996 |
MEMO OF DEPOSIT |
KWONG YIK BANK BHD |
MYR 700,000.00 |
Unsatisfied |
|
5 |
03/09/2003 |
N/A |
RHB BANK BERHAD |
- |
Unsatisfied |
|
6 |
25/02/2004 |
N/A |
CIMB BANK BERHAD |
MYR 400,000.00 |
Satisfied |
|
7 |
10/06/2004 |
N/A |
RHB BANK BERHAD |
- |
Unsatisfied |
|
8 |
27/04/2007 |
N/A |
RHB BANK BHD |
- |
Unsatisfied |
|
9 |
30/04/2008 |
THE SECURITY DOCUMENTS & THE CHARGE |
RHB BANK BHD |
- |
Unsatisfied |
|
10 |
17/10/2012 |
N/A |
MALAYAN BANKING BHD |
MYR 7,540,000.00 |
Unsatisfied |
|
11 |
25/10/2012 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
12 |
02/11/2012 |
N/A |
BANGKOK BANK BHD |
- |
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 |
: |
BRAZIL,ITALY,NETHERLANDS,CHINA,THAILAND |
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
POULTRY FARMS |
|||
|
Products manufactured |
: |
|
|||||
|
Competitor(s) |
: |
DINDINGS SOYA &
MULTIFEEDS SDN BHD |
|||||
|
Member(s) / Affiliate(s) |
: |
SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE |
|||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
50 |
50 |
60 |
60 |
60 |
||||
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of animal feeds.
The Subject produces feed premixes for poultry including for pigs and chickens.
The Subject's animal feeds are made of soya and maize.
Besides that the Subject also offers feed additives, animal health products,
livestock equipment include hencoop, feeder, castiron, waste water treatment,
genetic suppliers & milk powder.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
045880887 |
|
Current Telephone Number |
: |
04-5880887 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT,14100,SEBERANG PERAI TENGAH,PULAU PINANG. |
|
Current Address |
: |
1628, JALAN IKS SIMPANG AMPAT 1, TAMAN IKS SIMPANG AMPAT, 14100 SIMPANG AMPAT, PULAU PINANG, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
we contacted one of the staff from the Subject and she
provided some information.
|
The Subject is a private exempt company which does not need to file in its accounts with the Registrar of Companies for the information of the public. Therefore, we are not able to comment on the Subject's financial performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
|
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 |
|
|
10800 : Manufacture of prepared animal feeds |
|
|
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 |
|
|
Incorporated in 1991, the Subject is an
Exempt Private company, focusing on manufacturing and trading of animal
feeds. 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. A paid up capital of MYR 2,000,000 allows the
Subject to expand its business more comfortably. However, the Subject does
not have strong shareholders’ backing. Without a strong shareholders'
backing, the opportunity of the Subject to expand its business is
limited. 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. The
Subject is operating on a medium scale and it has approximately 50 employees
in its business operations. 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. As the Subject is registered as an Exempt
Private company, it is not required to file financial statements for public
review. As such, we are unable to ascertain its present financial
health. 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. In view of the above, we recommend credit be
granted to the Subject with close monitoring. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
YENHER
AGRO-PRODUCTS SDN. BHD. |
|
Financial Year End |
2007-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
MYR |
|
TURNOVER |
43,149,305 |
|
---------------- |
|
|
Total Turnover |
43,149,305 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,242,302 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,242,302 |
|
Taxation |
(916,850) |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,325,452 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
2,325,452 |
|
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
2,325,452 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
10,430,924 |
|
---------------- |
|
|
As restated |
10,430,924 |
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
12,756,376 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
12,756,376 |
|
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
Bank overdraft |
2,259 |
|
Hire purchase |
3,136 |
|
Others |
355,187 |
|
---------------- |
|
|
360,582 |
|
|
============= |
|
YENHER
AGRO-PRODUCTS SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
8,577,545 |
|
Investments |
37,600 |
|
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
37,600 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
8,615,145 |
|
Stocks |
4,323,827 |
|
Other debtors, deposits & prepayments |
19,628,536 |
|
Short term deposits |
441,338 |
|
Cash & bank balances |
271,732 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
24,665,433 |
|
---------------- |
|
|
TOTAL ASSET |
33,280,578 |
|
============= |
|
|
CURRENT
LIABILITIES |
|
|
Trade creditors |
6,540,369 |
|
Other creditors & accruals |
2,283,700 |
|
Hire purchase & lease creditors |
40,256 |
|
Bank overdraft |
185,103 |
|
Amounts owing to director |
814,426 |
|
Provision for taxation |
421,668 |
|
Other liabilities |
9,821,000 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
20,106,522 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
4,558,911 |
|
---------------- |
|
|
TOTAL NET ASSETS |
13,174,056 |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
400,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
400,000 |
|
Retained profit/(loss) carried forward |
12,756,376 |
|
---------------- |
|
|
TOTAL RESERVES |
12,756,376 |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
13,156,376 |
|
Hire purchase creditors |
17,680 |
|
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
17,680 |
|
---------------- |
|
|
13,174,056 |
|
|
============= |
|
|
YENHER
AGRO-PRODUCTS SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Cash |
713,070 |
|
Net Liquid Funds |
527,967 |
|
Net Liquid Assets |
235,084 |
|
Net Current Assets/(Liabilities) |
4,558,911 |
|
Net Tangible Assets |
13,174,056 |
|
Net Monetary Assets |
217,404 |
|
BALANCE SHEET
ITEMS |
|
|
Total Borrowings |
243,039 |
|
Total Liabilities |
20,124,202 |
|
Total Assets |
33,280,578 |
|
Net Assets |
13,174,056 |
|
Net Assets Backing |
13,156,376 |
|
Shareholders' Funds |
13,156,376 |
|
Total Share Capital |
400,000 |
|
Total Reserves |
12,756,376 |
|
LIQUIDITY
(Times) |
|
|
Cash Ratio |
0.04 |
|
Liquid Ratio |
1.01 |
|
Current Ratio |
1.23 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
Stock Ratio |
37 |
|
Creditors Ratio |
55 |
|
SOLVENCY RATIOS
(Times) |
|
|
Gearing Ratio |
0.02 |
|
Liabilities Ratio |
1.53 |
|
Times Interest Earned Ratio |
9.99 |
|
Assets Backing Ratio |
32.94 |
|
PERFORMANCE RATIO
(%) |
|
|
Operating Profit Margin |
7.51 |
|
Net Profit Margin |
5.39 |
|
Return On Net Assets |
27.35 |
|
Return On Capital Employed |
26.89 |
|
Return On Shareholders' Funds/Equity |
17.68 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.