|
Report No. : |
304887 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIAP HENG MARINE PRODUCTS SDN. BHD. |
|
|
|
|
Registered Office : |
100g/1, Jalan Kesidang 2/24, Lorong Pandan,
75250 Melaka, Melaka |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2005 |
|
|
|
|
Date of Incorporation : |
05.05.1981 |
|
|
|
|
Com. Reg. No.: |
70239-P |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
Engaged in dealing in
Marine Food Products including Abalone, Dried Cucumber as well as other marine and seafood [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
15 [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. |
: |
70239-P |
||||
|
COMPANY NAME |
: |
HIAP HENG MARINE PRODUCTS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
05/05/1981 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
100G/1, JALAN KESIDANG 2/24, LORONG PANDAN, 75250 MELAKA, MELAKA,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
26, JALAN PANGLIMA 2, TAMAN PANGLIMA, BUKIT SERINDIK, 75400 MELAKA,
MELAKA, MALAYSIA. |
||||
|
TEL.NO. |
: |
06-2836706 |
||||
|
FAX.NO. |
: |
06-2882555 |
||||
|
CONTACT PERSON |
: |
LIM CHUN TECK ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46312 46312 |
||||
|
PRINCIPAL ACTIVITY |
: |
Engaged in dealing in Marine Food Products
including Abalone, Dried Cucumber as well as other marine and seafood |
||||
|
AUTHORISED CAPITAL |
: |
MYR 250,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 250,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
15 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
Unknown
|
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
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) dealing in marine food products.
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 250,000.00 |
MYR 250,000.00 |
The major shareholder(s)
of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. LIM CHOON TECK + |
489 PLAZA MELAKA, JALAN HANG TUAH, 75300 MELAKA, MELAKA, MALAYSIA. |
580325-04-5295 5309191 |
240,000.00 |
96.00 |
|
MS. NG HWEE PENG + |
489 PLAZA MELAKA, JALAN HANG TUAH, 75300 MELAKA, MELAKA, MALAYSIA. |
590708-04-5224 5626212 |
10,000.00 |
4.00 |
|
--------------- |
------ |
|||
|
250,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. NG HWEE PENG |
|
Address |
: |
489 PLAZA MELAKA, JALAN HANG TUAH, 75300 MELAKA, MELAKA, MALAYSIA. |
|
IC / PP No |
: |
5626212 |
|
New IC No |
: |
590708-04-5224 |
|
Date of Birth |
: |
08/07/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
21/12/1989 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. LIM CHOON TECK |
|
Address |
: |
489 PLAZA MELAKA, JALAN HANG TUAH, 75300 MELAKA, MELAKA, MALAYSIA. |
|
IC / PP No |
: |
5309191 |
|
New IC No |
: |
580325-04-5295 |
|
Date of Birth |
: |
25/03/1958 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/05/1981 |
|
1) |
Name of Subject |
: |
LIM CHUN TECK |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
O.L. YEO & CO. |
|
Auditor' Address |
: |
110A & B JALAN MELAKA RAYA 25, TAMAN MELAKA RAYA, 75000 MELAKA, MELAKA, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. LIOW CHYE HOCK |
|
IC / PP No |
: |
4679130 |
|
|
New IC No |
: |
541113-04-5005 |
|
|
Address |
: |
295-G, JALAN ASEAN 5, TAMAN ASEAN, JALAN MALIM, 75250 MELAKA, MELAKA, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. LAI FUI YAN |
|
IC / PP No |
: |
A3516309 |
|
|
New IC No |
: |
770526-04-5408 |
|
|
Address |
: |
30, JALAN TMS 2, TAMAN TANJUNG MINYAK SETIA, 75350 BATU BERENDAM, MELAKA, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
02/05/1991 |
OPEN CHARGE |
CHUNG KHIAW BANK LIMITED |
- |
Unsatisfied |
|
2 |
07/06/1991 |
OPEN CHARGE |
OCBC BANK MALAYSIA BHD |
MYR 180,000.00 |
Unsatisfied |
|
3 |
07/06/1991 |
OPEN CHARGE |
OCBC BANK MALAYSIA BHD |
MYR 650,000.00 |
Satisfied |
* 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 |
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
30 - 90 DAYS |
|||
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
RESTAURANTS,RETAIL |
|||
|
Goods Traded |
: |
MARINE PRODUCTS |
|||||
|
Competitor(s) |
: |
7-ELEVEN MALAYSIA SDN BHD |
|||||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2011 |
2010 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
15 |
15 |
15 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally
engaged in the (as a / as an) dealing in marine food products.
The Subject is principally engaged in the sale and distribution of a wide range
of marine foods.
The Subject's products include the abalone, dried cucumber as well as other
marine and seafood.
The Subject is equipped with cold and chilled storage facilities to keep the
freshness of its products.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
06-2836706 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO 26, JALAN PANGLIMA 2, TAMAN PANGLIMA, BUKIT
SERINDIK,75400,MELAKA,MELAKA. |
|
Current Address |
: |
26, JALAN PANGLIMA 2, TAMAN PANGLIMA, BUKIT SERINDIK, 75400 MELAKA,
MELAKA, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
we contacted one of the staff from the Subject and she provided some information on the Subject.
|
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 |
|
|
46312 : Wholesale of fish and other seafood |
|
|
46312 : Wholesale of fish and other seafood |
|
|
INDUSTRY : |
AGRICULTURE |
|
The agricultural sector has contributed to the growth and be a major
contributor to national income and export earnings. It initially derived from
the increase in the production of livestock, fisheries, and other miscellaneous
crops. |
|
|
The agriculture sector is expected to record a growth of 3.1% in 2015.
However, the agriculture sector in 2014 is likely to remain more favourable
and is expected to expand 3.8% (2013: 2.1%), supported by higher production of
crude palm oil (CPO) and food, especially poultry, fruits and vegetables. The
agriculture sector expanded 4.6% in the first half of 2014 (January – June
2013: 3.2%), driven by higher CPO production despite lower rubber output.
Livestock, fruit and vegetables also recorded positive growth following the
Government’s measures to increase food production to enhance food security
and reduce the food import bill. In addition, the implementations of
fishermen’s market and Kedai Rakyat Agrobazaar have contributed to higher
production of food. |
|
|
The oil palm subsector rose 8.1% in the first half of 2014 following
higher CPO production. Production of CPO increased 6.6% during the first
seven months of 2014. On the other hand, the rubber subsector declined 13.3%
in the first half of 2014 due to lower output and prices. Production of
natural rubber dropped 13.2% to 0.3 million tonnes mainly due to the hot
weather conditions and prolonged wintering season during the first quarter of
the year. Taking into account the stable process and improved weather
conditions during the second half of 2014, the production of rubber is
expected to record a smaller contraction of 3.9% to 792,286 tonnes in 2014. |
|
|
Furthermore, livestock subsector grew 7% over the first half of 2014
on account of higher output of poultry (10.2%) and eggs (3.1%) to meet higher
external and domestic demand. The fishing subsector moderated to 1.3% over
the first half of 2014 due to lower aquaculture production and marine fish
landings. Meanwhile, other agriculture subsector expanded 7.4% over the first
half of 2014 on account of higher output of vegetables (7.2%), fruits (7.3%),
and paddy (5.5%). |
|
|
Other than that, the agriculture exports are expected to rebound by
4.5% in 2014 (2013: -14.4%). The export earning increased 3.7% to Rm40
billion over the first seven months of 2014 on account of higher shipments of
palm oil and other agriculture goods. |
|
|
According to budget 2015, from 2015 to 2017, the Government will
allocate RM6 billion to Ministry of Agriculture and Agro-Based Industry to
implement 4 initiatives in order to strengthen food supply chain, such as
establishing 65 permanent farmers’ markets and 50 fish markets that will
operate daily in selected locations, introduce a weekly auction programme for
quality vegetables at reasonable prices, accelerating planting and replanting
of fruit trees, and providing RM100 million matching grant to Farmers’
Organisation Authority to enable the members to obtain loans to improve farm
productivity and marketing channels. |
|
|
Conclusively, the agriculture sector is a strong contributor to
Malaysia's GDP and total employment due to the share of agriculture sector to
GDP is estimated to remain at 7% in 2014, and it contributed 12.4% to total
employment in Malaysia. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
|
Incorporated in 1981, the Subject is an Exempt
Private company, focusing on dealing in marine food products. The Subject has
been in business for over two decades. It has built up a strong clientele
base and satisfactory reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. With an issued and paid up capital of MYR 250,000 contributed
by individual shareholders, the Subject may face difficulties in its attempt
to further expand its business in the future. Thus, the Subject should put
more efforts on its business to gain higher market share while competing
aggressively in the market. 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. 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 has reached its maturity
stage and only enjoying a marginal growth. The steady growth of the country's
economy will further enhance the industry activities. Thus, the Subject's
future performance is very much depend on its marketing strategies in order
to retain its position in the market. In view of the above, we only recommend
credit be proceeded to the Subject with guarantee. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
HIAP HENG MARINE
PRODUCTS SDN. BHD. |
|
Financial Year End |
2005-06-30 |
2004-06-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
|
TURNOVER |
10,474,369 |
9,070,472 |
|
---------------- |
---------------- |
|
|
Total Turnover |
10,474,369 |
9,070,472 |
|
---------------- |
---------------- |
|
|
Gross Profit |
- |
9,070,472 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
286,119 |
286,193 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
286,119 |
286,193 |
|
Taxation |
(62,418) |
(63,585) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
223,701 |
222,608 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
223,701 |
222,608 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
223,701 |
222,608 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
223,701 |
222,608 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
223,701 |
222,608 |
|
============= |
============= |
|
|
HIAP HENG MARINE
PRODUCTS SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
455,428 |
484,785 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
455,428 |
484,785 |
|
TOTAL CURRENT ASSETS |
3,647,325 |
2,432,632 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
4,102,753 |
2,917,417 |
|
============= |
============= |
|
|
TOTAL CURRENT LIABILITIES |
3,317,328 |
2,484,790 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
329,997 |
(52,158) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
785,425 |
432,627 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
250,000 |
100,002 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
250,000 |
100,002 |
|
RESERVES |
||
|
Share premium |
525,504 |
301,803 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
525,504 |
301,803 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
775,504 |
401,805 |
|
TOTAL LONG TERM LIABILITIES |
9,921 |
30,822 |
|
---------------- |
---------------- |
|
|
785,425 |
432,627 |
|
|
============= |
============= |
|
|
HIAP HENG MARINE
PRODUCTS SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Net Liquid Assets |
329,997 |
(52,158) |
|
Net Current Assets/(Liabilities) |
329,997 |
(52,158) |
|
Net Tangible Assets |
785,425 |
432,627 |
|
Net Monetary Assets |
320,076 |
(82,980) |
|
BALANCE SHEET ITEMS |
||
|
Total Liabilities |
3,327,249 |
2,515,612 |
|
Total Assets |
4,102,753 |
2,917,417 |
|
Net Assets |
785,425 |
432,627 |
|
Net Assets Backing |
775,504 |
401,805 |
|
Shareholders' Funds |
775,504 |
401,805 |
|
Total Share Capital |
250,000 |
100,002 |
|
Total Reserves |
525,504 |
301,803 |
|
LIQUIDITY (Times) |
||
|
Current Ratio |
1.10 |
0.98 |
|
SOLVENCY RATIOS (Times) |
||
|
Liabilities Ratio |
4.29 |
6.26 |
|
Assets Backing Ratio |
3.14 |
4.33 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
2.73 |
3.16 |
|
Net Profit Margin |
2.14 |
2.45 |
|
Return On Net Assets |
36.43 |
66.15 |
|
Return On Capital Employed |
36.43 |
66.15 |
|
Return On Shareholders' Funds/Equity |
28.85 |
55.40 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
UK Pound |
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
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.