|
Report No. : |
305737 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DNP IMAGINGCOMM ASIA SDN. BHD. |
|
|
|
|
Registered Office : |
Plo 676, Jalan Nikel, Kawasan Perindustrian Pasir Gudang, Pasir
Gudang, 81707 Pasir Gudang, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
29.02.2012 |
|
|
|
|
Com. Reg. No.: |
980094-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacturing thermal transfer ribbon. |
|
|
|
|
No. of Employee : |
130 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country,
has transformed itself since the 1970s from a producer of raw materials into an
emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is
attempting to achieve high-income status by 2020 and to move farther up the
value-added production chain by attracting investments in Islamic finance, high
technology industries, biotechnology, and services. NAJIB's Economic
Transformation Program (ETP) is a series of projects and policy measures
intended to accelerate the country's economic growth. The government has also
taken steps to liberalize some services sub-sectors. The NAJIB administration
also is continuing efforts to boost domestic demand and reduce the economy's
dependence on exports. Nevertheless, exports - particularly of electronics, oil
and gas, palm oil and rubber - remain a significant driver of the economy. As
an oil and gas exporter, Malaysia has profited from higher world energy prices,
although the rising cost of domestic gasoline and diesel fuel, combined with
sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal
shortfalls, through initial reductions in energy and sugar subsidies and the
announcement of the 2015 implementation of a 6% goods and services tax. The
government is also trying to lessen its dependence on state oil producer
Petronas. The oil and gas sector supplies about 32% of government revenue in
2013. Bank Negara Malaysia (central bank) maintains healthy foreign exchange
reserves, and a well-developed regulatory regime has limited Malaysia's
exposure to riskier financial instruments and the global financial crisis.
Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a
general slowdown in global economic activity because exports are a major
component of GDP. In order to attract increased investment, NAJIB earlier
raised possible revisions to the special economic and social preferences
accorded to ethnic Malays under the New Economic Policy of 1970, but retreated
in 2013 after he encountered significant opposition from Malay nationalists and
other vested interests. In September 2013 NAJIB launched the new Bumiputra
Economic Empowerment Program (BEEP), policies that favor and advance the
economic condition of ethnic Malays.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
980094-U |
||||
|
COMPANY NAME |
: |
DNP IMAGINGCOMM ASIA SDN. BHD. |
||||
|
FORMER NAME |
: |
DNP IMS MALAYSIA SDN. BHD. (11/06/2014) |
||||
|
INCORPORATION DATE |
: |
29/02/2012 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
PLO 676, JALAN NIKEL, KAWASAN PERINDUSTRIAN PASIR GUDANG, PASIR
GUDANG, 81707 PASIR GUDANG, JOHOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
676, JALAN NIKEL 4, KAWASAN PERINDUSTRIAN PASIR GUDANG, 81700 PASIR
GUDANG, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-2578400 |
||||
|
FAX.NO. |
: |
07-2578590 |
||||
|
WEB SITE |
: |
WWW.DNPIMAGINGCOMM.ASIA |
||||
|
CONTACT PERSON |
: |
KOICHI SHIRAI ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
329 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING THERMAL TRANSFER RIBBON |
||||
|
AUTHORISED CAPITAL |
: |
MYR 200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 190,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 3,323,770 [2013] |
||||
|
NET WORTH |
: |
MYR 155,738,410 [2013] |
||||
|
STAFF STRENGTH |
: |
130 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
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
thermal transfer ribbon.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is DAI NIPPON PRINTING CO.
LTD, a company incorporated in JAPAN.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
21/05/2014 |
MYR 200,000,000.00 |
MYR 190,000,000.00 |
|
11/10/2013 |
MYR 200,000,000.00 |
MYR 159,000,000.00 |
|
01/04/2013 |
MYR 200,000,000.00 |
MYR 119,000,000.00 |
|
15/02/2013 |
MYR 200,000,000.00 |
MYR 40,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DAI NIPPON PRINTING CO. LTD |
1-1-1, ICHIGAYA-KAGACHO, SHINJUKU-KU, TOKYO, 162-8001 JAPAN, JAPAN. |
XLZ00218962 |
190,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
190,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KOZO ODAMURA |
|
Address |
: |
BLOCK F-7-E3, THE STRAITS VIEW CONDOMINIUM, 8, JALAN PERMAS SELATAN, BANDAR
BARU PERMAS JAYA, 81750 MASAI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
TZ0433398 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
21/01/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
MASATO KOIKE |
|
Address |
: |
3-4-18, OZENJINISHI, ASAO-KU, KAWASAKI-SHI, KANAGAWA 215-0017 JAPAN,
JAPAN. |
|
IC / PP No |
: |
TZ0404276 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/08/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MINEO YAMAUCHI |
|
Address |
: |
1-28-2-102 HANAKOGANEI MINAMICHO, KODAIRASHI, TOKYO, 187-0003 JAPAN,
JAPAN. |
|
IC / PP No |
: |
TK0366689 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
05/03/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. KOICHI SHIRAI |
|
Address |
: |
BLOCK A-13-W3, STRAITS VIEW CONDO, 8, JALAN PERMAS SELATAN, BANDAR
BARU PERMAS JAYA, 81750 MASAI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
TH2196633 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2013 |
DIRECTOR 5
|
Name Of Subject |
: |
HIROYUKI ARAMATA |
|
Address |
: |
15-8-906, TAKASU 3 CHO-ME, MIHAMAKU, CHIBA-SHI, CHIBA, 261-004, JAPAN,
JAPAN. |
|
IC / PP No |
: |
TH8604710 |
|
Date of Appointment |
: |
24/06/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KOICHI SHIRAI |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, LEVEL 10, 47800 PETALING
JAYA, SELANGOR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. CHONG KANG YIN |
|
IC / PP No |
: |
5472950 |
|
|
New IC No |
: |
580414-08-5256 |
|
|
Address |
: |
05-03, BLK 6 DOCHESTER COURT, JALAN MASAI BARU, APARTMENT PRIMA
REGENCY, PLENTONG, 81750 MASAI, JOHOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. KOK POH FUI |
|
IC / PP No |
: |
A1553709 |
|
|
New IC No |
: |
700401-01-5631 |
|
|
Address |
: |
26, JALAN KASA 8, TAMAN SENTOSA, 80150 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
130 |
130 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing thermal
transfer ribbon.
The Subject is engaged in the manufacturing of imaging products.
The Subject however refused to disclose further information on its
operation.
RECENT
DEVELOPMENT
|
April 17, 2013
Dai Nippon Printing Co Ltd (DNP) of Japan will invest five billion yen
(RM170.5mil) to establish a new plant in Pasir Gudang, Johor, for the
production of dye sublimation thermal transfer media used for photo printing.
The new plant is scheduled for completion in September and DNP IMS Malaysia Sdn
Bhd was established as the operating subsidiary for the new manufacturing
plant.By 2016, the new company aims for sales of 4 billion yen (RM136.40mil).
DNP operates its photo print business on a global scale using facilities in
Japan, Europe and the United States.
“The demand for dry digital photo prints is expanding worldwide in line with
the growth of digital cameras and smart phones. The emerging nations of
South-East Asia are seeing increased demand for digital photo print, with ID
photo needs also experiencing a marked increase.
“In order to capitalise on these developments, DNP has decided to build a new
dye sublimation media manufacturing plant in Malaysia, and will actively expand
operations in South-East Asia,” it said in statement posted on its website.
In June 2012, DNP established DNP Asia Pacific Pte Ltd in Singapore to oversee
the Asian region, and this new company has pushed ahead with research
activities, including market research targeting business expansion in the
region. The new dye sublimation media supplies plant has been established as
part of these activities, and will work to expand the photo print business. Dye
sublimation thermal transfer media is used when printing digital images in a
thermal transfer print technology.
The media set is composed of an ink ribbon and a dedicated receiver paper. The
dye from the ink ribbon is transferred to the receiver paper to match the
intensity of the image making it possible to create high-quality photos prints,
with smooth gradations, similar to silver halide photography.
Dye sublimation prints are highly durable, economical and can be quickly
produced. Expanded use is foreseen mainly in the areas of commercial photo
printing such as photo print kiosk terminals, dry minilabs and ID photos.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-2578400 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
676, JALAN NIKEL 4, KAWASAN PERINDUSTRIAN PASIR GUDANG,81700,PASIR
GUDANG,JOHOR. |
|
Current Address |
: |
676, JALAN NIKEL 4, KAWASAN PERINDUSTRIAN PASIR GUDANG, 81700 PASIR GUDANG,
JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject only commenced its business operation in 2013.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
(0.00%) |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
(912.00%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(1.90%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(1.90%) |
] |
|
|
The higher turnover could be attributed to the favourable market
condition.Higher losses before tax during the year could be due to the higher
operating costs incurred. The Subject's unfavourable returns on shareholders'
funds indicate the management's inefficiency in utilising its assets to
generate returns. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Favourable |
[ |
2.18 Times |
] |
|
|
The Subject was in good liquidity position with its current
liabilities well covered by its current assets. With its net
current assets, the Subject should be able to repay its short term
obligations. |
||||||
|
Solvency |
||||||
|
Liability Ratio |
: |
Favourable |
[ |
0.29 Times |
] |
|
|
A low liabilities ratio has minimised the Subject's financial risk. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to
maintain its competitiveness in the market. 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. The Subject has a low liabilities ratio. It's
liabilities were low and was not vulnerable to the financial risk. |
||||||
|
Overall financial condition of the Subject : FAIR |
||||||
|
|
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
329 : Other manufacturing n.e.c. |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is expected to grow by 5.5% in 2015. It will
be bolstered by strong domestic and export-oriented industries in line with growing
investment activities and favorable external demand. Moreover, in 2014, the
manufacturing sectors have spearheading growth. The manufacturing sector is
estimated to grow at a faster pace in 2014 on higher exports of electronics
and electrical (E&E) products as external demand improves. |
|
|
The manufacturing sector expanded strongly during the first half of
2014, the highest growth in three years, spurred by higher global
semiconductor sales. Value-added of the manufacturing sector expanded 7.1% during
the first half of 2014. Production of the sector rose 6.6% in the first seven
months of 2014 supported by resilient domestic demand and recovery in the
external sector during the first seven months of the years. The sales value
of manufactured products rebounded by 7.7% in the first seven months of 2014.
The strong performance of the sector was on account of higher output at 9.4%
from the domestic-oriented industries, particularly transport equipment, food
and beverage. |
|
|
The manufacturing sector continued to attract domestic and foreign
investment with investment approved by Malaysian Investment Development
Authority (MIDA) totaling RM47.4 billion during the first six months of 2014,
mainly from Japan, China and Germany. Meanwhile, the capacity utilization
rate remained steady at 80.4% during the second quarter of 2014 while average
wage per employee and productivity improved to RM2,772 per month and 5.9%,
respectively during the first seven months of 2014. Boosted by favorable
domestic economic activity and recovery in the external sector, the
manufacturing sector is expected to record a better performance with growth
of 6.4% in 2014. |
|
|
In the meantime, production of wood products rebounded by 5.1% largely
supported by higher output in the saw-milling and planning of wood segment at
25.9% during the first seven months of 2014. The positive performance was
attributed to vibrant residential and commercial construction activities
which contributed to increased use of timber frame and glued laminated timber
for cost savings compared to the use of concrete and steel. Increased demand
from major export destination such as the US, Japan and Australia for
Malaysian made furniture contributed to the higher output, particularly
wooden and cane furniture which rebounded by 2.2%. |
|
|
Production of rubber products contracted 0.3% in the first seven
months of 2014 on account of slower demand for rubber gloves and rubber
tyres. The decline in rubber tyres for vehicles was due to the weaker
external demand from the automotive industry, particularly from China. Output
of other rubber products contracted 3.8% following the product shift from
rubber-based to plastics, silicones and metal alloys in the manufacture of
medical devices. |
|
|
Besides, exports of manufactured products are expected to grow 6.1% in
2014 boosted by the growing demand from advanced economies. However, during
the first seven months of 2014, manufactured exports surged 11.4%. The robust
growth was buoyed by strengthening demand in the US and EU, reflecting
significant exposure of Malaysian exports to the economic performance in the
advance economies. The strength in export was broad-based with robust growth
in both E&E and non- E&E subsectors. |
|
|
Under budget 2015, the Government will provide incentive in the form
of capital allowance on automation expenditure to encourage automation in the
manufacturing sector, which may help in the manufacturing sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
DNP IMAGINGCOMM ASIA SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
10 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
FULL |
|
Currency |
MYR |
MYR |
|
TURNOVER |
3,323,770 |
- |
|
---------------- |
---------------- |
|
|
Total Turnover |
3,323,770 |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(2,958,123) |
(292,304) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(2,958,123) |
(292,304) |
|
Taxation |
- |
(11,163) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(2,958,123) |
(303,467) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(303,467) |
- |
|
---------------- |
---------------- |
|
|
As restated |
(303,467) |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(3,261,590) |
(303,467) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(3,261,590) |
(303,467) |
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
DNP IMAGINGCOMM ASIA SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
101,851,327 |
2,939,333 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
101,851,327 |
2,939,333 |
|
Other debtors, deposits & prepayments |
- |
2,991,106 |
|
Cash & bank balances |
- |
37,087,114 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
99,741,591 |
40,078,220 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
201,592,918 |
43,017,553 |
|
============= |
============= |
|
|
Other creditors & accruals |
- |
2,984,790 |
|
Amounts owing to related companies |
- |
325,067 |
|
Provision for taxation |
- |
11,163 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
45,854,508 |
3,321,020 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
53,887,083 |
36,757,200 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
155,738,410 |
39,696,533 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
159,000,000 |
40,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
159,000,000 |
40,000,000 |
|
Retained profit/(loss) carried forward |
(3,261,590) |
(303,467) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(3,261,590) |
(303,467) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
155,738,410 |
39,696,533 |
|
---------------- |
---------------- |
|
|
155,738,410 |
39,696,533 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
DNP IMAGINGCOMM ASIA SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Cash |
- |
37,087,114 |
|
Net Liquid Funds |
- |
37,087,114 |
|
Net Liquid Assets |
53,887,083 |
36,757,200 |
|
Net Current Assets/(Liabilities) |
53,887,083 |
36,757,200 |
|
Net Tangible Assets |
155,738,410 |
39,696,533 |
|
Net Monetary Assets |
53,887,083 |
36,757,200 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
- |
0 |
|
Total Liabilities |
45,854,508 |
3,321,020 |
|
Total Assets |
201,592,918 |
43,017,553 |
|
Net Assets |
155,738,410 |
39,696,533 |
|
Net Assets Backing |
155,738,410 |
39,696,533 |
|
Shareholders' Funds |
155,738,410 |
39,696,533 |
|
Total Share Capital |
159,000,000 |
40,000,000 |
|
Total Reserves |
(3,261,590) |
(303,467) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
- |
11.17 |
|
Liquid Ratio |
- |
12.07 |
|
Current Ratio |
2.18 |
12.07 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
- |
0 |
|
Debtors Ratio |
- |
0 |
|
Creditors Ratio |
- |
0 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
- |
0.00 |
|
Liabilities Ratio |
0.29 |
0.08 |
|
Times Interest Earned Ratio |
- |
0.00 |
|
Assets Backing Ratio |
0.98 |
0.99 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(89.00) |
0.00 |
|
Net Profit Margin |
(89.00) |
0.00 |
|
Return On Net Assets |
(1.90) |
(0.74) |
|
Return On Capital Employed |
(1.90) |
(0.74) |
|
Return On Shareholders' Funds/Equity |
(1.90) |
(0.76) |
|
Dividend Pay Out Ratio (Times) |
- |
0.00 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
- |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.