|
Report No. : |
329658 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SABAH FOREST INDUSTRIES SDN. BHD. |
|
|
|
|
Registered Office : |
10, Jalan Jeti, Kompleks Sfi, 89857 Sipitang, Sabah |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
30.04.1982 |
|
|
|
|
Com. Reg. No.: |
84330-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the manufacturing of writing and
printing paper and wood products. |
|
|
|
|
No. of Employees : |
2500 [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 |
|
Litigation : |
-- |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 previously 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. Falling
global oil prices in the second half of 2014 have strained government finances,
shrunk Malaysia’s current account surplus and put downward pressure on the
ringgit. The government is also trying to lessen its dependence on state oil
producer Petronas. The oil and gas sector supplied about 29% of government
revenue in 2014. 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. Malaysia is a member of the 12-nation
Trans-Pacific Partnership free trade agreement negotiations and, with the nine
other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
84330-K |
||||
|
COMPANY NAME |
: |
SABAH FOREST INDUSTRIES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
30/04/1982 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
10, JALAN JETI, KOMPLEKS SFI, 89857 SIPITANG, SABAH, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
10, JALAN JETI, KOMPLEKS SFI, WDT 31, 89859 SIPITANG, SABAH, MALAYSIA. |
||||
|
TEL.NO. |
: |
087-801018 |
||||
|
FAX.NO. |
: |
087-801381 |
||||
|
CONTACT PERSON |
: |
SUKARTI BIN WAKIMAN ( CHAIRMAN ) |
||||
|
INDUSTRY CODE |
: |
17010 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF WRITING AND PRINTING PAPER AND WOOD PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 2,200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,969,997,926.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 501,468,000 [2014] |
||||
|
NET WORTH |
: |
MYR 1,040,821,000 [2014] |
||||
|
M1000 OVERALL RANKING |
: |
820[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
10[2011] |
||||
|
STAFF STRENGTH |
: |
2500 [2015] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
FAIR |
||||
|
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
of writing and printing paper and wood products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the Subject's ranking are
as follows: |
|
|||||
|
||||||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
820 |
768 |
789 |
493 |
417 |
|
|
INDUSTRY RANKING |
10 |
10 |
13 |
4 |
4 |
|
The immediate holding company of the Subject is BALLARPUR PAPER HOLDINGS
BV, a company incorporated in NETHERLANDS.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
24/02/2015 |
MYR 2,200,000,000.00 |
MYR 1,969,997,926.00 |
|
30/12/2014 |
MYR 2,200,000,000.00 |
MYR 1,839,197,926.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BALLARPUR PAPER HOLDINGS BV |
LAAN VAN KRONENBURG 8, 1183 AS AMSTELVEEN, P.O.BOX 7827, 1008 AA,
AMSTERDAM, THE, NETHERLANDS. |
XLZ00211524 |
9,731,856,532.00 |
98.10 |
|
SUKARTI BIN WAKIMAN + |
KAMPUNG BERUNGIS, OFF JALAN TUARAN, 89200 TUARAN, SABAH, MALAYSIA. |
540109-12-5083 |
1.00 |
0.00 |
|
MR. DATUK PENGIRAN HASSANEL BIN PG. MOHD TAHIR + |
LOT 80, TAMAN SERI GAYA, FASA 3, 88300 KOTA KINABALU, SABAH, MALAYSIA. |
580101-12-6539 H0588885 |
1.00 |
0.00 |
|
SYARIKAT WIRA BAKTI |
PEJABAT SETIAUSAHA KERAJAAN, 05503 ALOR SETAR, KEDAH, MALAYSIA. |
000000006K |
188,133,100.00 |
1.90 |
|
--------------- |
------ |
|||
|
9,919,989,634.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
YOGESH AGARWAL |
|
Address |
: |
S1, JALAN SETIA, SFI HOUSING COLONY, 89859 SIPITANG, SABAH, MALAYSIA. |
|
IC / PP No |
: |
G8600230 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
06/04/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
RAJEEV RANJAN VEDERAH |
|
Address |
: |
47, PASCHIMI MARG, VASANT VIHAR, NEW DELHI, 110057, INDIA. |
|
IC / PP No |
: |
F9346213 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
16/03/2007 |
DIRECTOR 3
|
Name Of Subject |
: |
HARIHARAN BHUTHALINGAM |
|
Address |
: |
D-2/3, PASCHIMI MARG, VASANT VIHAR, NEW DELHI, 110057, INDIA. |
|
IC / PP No |
: |
Z-1347246 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
16/03/2007 |
DIRECTOR 4
|
Name Of Subject |
: |
SUKARTI BIN WAKIMAN |
|
Address |
: |
KAMPUNG BERUNGIS, OFF JALAN TUARAN, 89200 TUARAN, SABAH, MALAYSIA. |
|
New IC No |
: |
540109-12-5083 |
|
Date of Birth |
: |
09/01/1954 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
03/09/2007 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. DATUK PENGIRAN HASSANEL BIN PG. MOHD TAHIR |
|
Address |
: |
LOT 80, TAMAN SERI GAYA, FASA 3, 88300 KOTA KINABALU, SABAH, MALAYSIA. |
|
IC / PP No |
: |
H0588885 |
|
New IC No |
: |
580101-12-6539 |
|
Date of Birth |
: |
01/01/1958 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/09/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SUKARTI BIN WAKIMAN |
|
Position |
: |
CHAIRMAN |
|
AUDITOR
|
|
Auditor |
: |
DELOITTE KASSIMCHAN |
|
Auditor' Address |
: |
MENARA LGB, 1 JALAN WAN KADIR, TAMAN TUN DR. ISMAIL, LEVEL 16, 60000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. ROSALIND LIEW FUI LEE |
|
IC / PP No |
: |
H0776526 |
|
|
New IC No |
: |
710115-12-5046 |
|
|
Address |
: |
LOT 53, LORONG BEMBAN, TAMAN FOOK TIN, JALAN KOLAM, 88333 KOTA
KINABALU, SABAH, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. EMILY CHUNG MUI CHU |
|
IC / PP No |
: |
H0613268 |
|
|
New IC No |
: |
641006-12-5390 |
|
|
Address |
: |
LOT T5-133, HSE 28, LORONG PERDANA 3, TAMAN LUYANG PERDANA PHASE 1,
JALAN PENAMPANG, 88300 KOTA KINABALU, SABAH, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
19/11/1987 |
N/A |
MALAYAN BANKING BHD |
- |
Satisfied |
|
2 |
30/06/1995 |
N/A |
BBMB INTERNATIONAL BANK L LTD |
MYR 500,000,000.00 |
Satisfied |
|
3 |
30/06/1995 |
N/A |
BBMB INTERNATIONAL BANK L LTD |
MYR 500,000,000.00 |
Satisfied |
|
4 |
22/12/2000 |
N/A |
ARABMALYSIAN MERCHANT BANK BERHAD AS SECURITY AGEN |
MYR 13,000,000.00 |
Satisfied |
|
5 |
07/02/2005 |
N/A |
MALAYAN BANKING BERHAD |
MYR 19,600,000.00 |
Satisfied |
|
6 |
07/02/2005 |
N/A |
MALAYAN BANKING BERHAD |
MYR 19,600,000.00 |
Satisfied |
|
7 |
09/08/2007 |
N/A |
MALAYAN BANKING BHD |
MYR 15,000,000.00 |
Satisfied |
|
8 |
13/09/2007 |
N/A |
ABN AMRO BANK BHD |
- |
Satisfied |
|
9 |
13/09/2007 |
N/A |
ABN AMRO BANK BHD |
- |
Satisfied |
|
10 |
17/07/2008 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
USD 10,000,000.00 |
Satisfied |
|
11 |
17/07/2008 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
USD 10,000,000.00 |
Satisfied |
|
12 |
31/07/2008 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
USD 10,000,000.00 |
Satisfied |
|
13 |
20/07/2010 |
OPEN CHARGE |
MAYBAN TRUSTEES BERHAD |
- |
Unsatisfied |
|
14 |
18/10/2010 |
N/A |
MAYBAN TRUSTEES BERHAD |
- |
Unsatisfied |
|
15 |
18/10/2010 |
N/A |
MAYBAN TRUSTEES BERHAD |
- |
Unsatisfied |
|
17 |
18/10/2010 |
N/A |
MAYBAN TRUSTEES BERHAD |
- |
Unsatisfied |
|
16 |
27/10/2010 |
N/A |
MAYBAN TRUSTEES BERHAD |
- |
Unsatisfied |
|
18 |
17/10/2013 |
SECOND BORROWER FIXED ASSET CHAGRE |
MAYBANK TRUSTEE BERHAD |
- |
Unsatisfied |
|
19 |
17/10/2013 |
SECOND BORROWER CURRENT ASSET CHARGE |
MAYBANK TRUSTEE BERHAD |
- |
Unsatisfied |
|
20 |
17/10/2013 |
MEMORANDUM OF CHARGE |
MAYBANK TRUSTEE BERHAD |
- |
Unsatisfied |
|
21 |
17/10/2013 |
SECOND BORROWER RECEIVABLES ACCOUNT |
MAYBANK TRUSTEE BERHAD |
- |
Unsatisfied |
|
22 |
17/10/2013 |
THE SUPPLEMENTAL ASSIGNMENT |
MAYBANK TRUSTEE BERHAD |
- |
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.
There is/are litigation case(s) on the Subject in our database as below:
- 1 case(s) filed in year 2007
- 1 case(s) filed in year 2014
According to the Credit Reporting Agencies Act 2010, consent from the Subject
is required for the disclosure of this credit information. In order to have the
consent from the Subject, we need to serve a notice to the Subject by disclose
the following according to the Act Section 23(1) :
1) Enquirer or Company who request for this credit information.
2) Contact person of Enquirer
3) Purpose of this credit information being used.
4) Contact person of the Subject.
We shall appreciate if you can furnish us the above in order for us to serve a
notice or inform the Subject accordingly. Otherwise, we are prohibited to
disclose this credit information if there is no consent from the Subject according
to the Act Section 24(1)(a).
No winding up petition was found in our affiliate's company 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 |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
75% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
25% |
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DEALERS,DISTRIBUTORS |
|||
|
No of Customer |
: |
N/A |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
||
|
Competitor(s) |
: |
GS PAPERBOARD SDN BHD |
||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) |
||
|
Ownership of premises |
: |
OWNED |
||
|
Production Line |
: |
N/A |
||
|
Production Capacity |
: |
|
||
|
Shifts |
: |
3 |
||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
2500 |
2600 |
2,000 |
2,000 |
2,000 |
||||
|
Branch |
: |
YES |
|
|
No of Branches |
: |
8 |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of writing
and printing paper and wood products.
The Subject's mainly involved in the following business:
* Pulp & paper, plantation division
* Integrated wood based activities, pulp and paper mill operations
The Subject's products includes offset printing paper, exercise book paper,
white printing paper, drawing paper, and computer form paper.
Besides that it is also engaged in the production of timber products such as
sawn timber, veneer, plywood and commercial logs.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
087 801016/801062 |
|
Current Telephone Number |
: |
087-801018 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
KOMPLEKS SFI, NO 10, JALAN JETI, W.D.T 31, SIPITANG, SABAH, MALAYSIA |
|
Current Address |
: |
10, JALAN JETI, KOMPLEKS SFI, WDT 31, 89859 SIPITANG, SABAH, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(5.66%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(2.72%) |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the
years.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. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
108 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. The unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.13 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.52 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(1.26 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.55 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the
Subject may be vulnerable to default in servicing the interest. The Subject
was lowly geared thus it had a low financial risk. The Subject was mainly
financed by its shareholders' funds and internally generated funds. In times
of economic slowdown / downturn, the Subject being a lowly geared company,
will be able to compete better than those companies which are highly geared
in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to
maintain its competitiveness in the market. Due to its weak liquidity
position, the Subject will be faced with problems in meeting all its short
term obligations if no short term loan is obtained or additional capital
injected into the Subject. The Subject's interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
|
|
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
|||||
|
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 ): |
|||||
|
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 |
|
|
17010 : Manufacture of pulp, paper and paperboard |
|
|
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) |
|
SABAH FOREST INDUSTRIES SDN. BHD. |
|
Financial Year End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
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 |
501,468,000 |
489,677,000 |
339,233,000 |
402,126,000 |
458,425,000 |
|
Other Income |
- |
145,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
501,468,000 |
489,822,000 |
339,233,000 |
402,126,000 |
458,425,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(70,132,000) |
(65,097,000) |
(543,000) |
29,282,000 |
80,692,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(70,132,000) |
(65,097,000) |
(543,000) |
29,282,000 |
80,692,000 |
|
Taxation |
11,238,000 |
22,810,000 |
15,071,000 |
24,619,000 |
35,072,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(58,894,000) |
(42,287,000) |
14,528,000 |
53,901,000 |
115,764,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(739,483,000) |
(698,057,000) |
(712,585,000) |
(766,294,000) |
(882,058,000) |
|
Prior year adjustment |
- |
861,000 |
- |
(192,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(739,483,000) |
(697,196,000) |
(712,585,000) |
(766,486,000) |
(882,058,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(798,377,000) |
(739,483,000) |
(698,057,000) |
(712,585,000) |
(766,294,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(798,377,000) |
(739,483,000) |
(698,057,000) |
(712,585,000) |
(766,294,000) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
254,000 |
181,000 |
- |
15,000 |
- |
|
Bankers' acceptance |
- |
- |
- |
38,000 |
60,000 |
|
Hire purchase |
- |
- |
15,000 |
22,000 |
25,000 |
|
Lease interest |
3,000 |
8,000 |
- |
- |
- |
|
Loan from holding company |
- |
56,000 |
330,000 |
300,000 |
- |
|
Term loan / Borrowing |
22,985,000 |
19,935,000 |
- |
- |
- |
|
Others |
7,855,000 |
2,243,000 |
498,000 |
193,000 |
255,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
31,097,000 |
22,423,000 |
843,000 |
568,000 |
340,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
102,555,000 |
104,569,000 |
60,946,000 |
55,808,000 |
48,737,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
102,555,000 |
104,569,000 |
60,946,000 |
55,808,000 |
48,737,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
SABAH FOREST INDUSTRIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,212,657,000 |
1,281,417,000 |
1,304,644,000 |
1,112,078,000 |
720,186,000 |
|
Deferred assets |
109,220,000 |
97,980,000 |
75,170,000 |
59,970,000 |
35,240,000 |
|
Others |
291,808,000 |
267,354,000 |
233,364,000 |
225,337,000 |
235,897,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
401,028,000 |
365,334,000 |
308,534,000 |
285,307,000 |
271,137,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,613,685,000 |
1,646,751,000 |
1,613,178,000 |
1,397,385,000 |
991,323,000 |
|
Stocks |
148,112,000 |
126,531,000 |
170,487,000 |
94,277,000 |
102,726,000 |
|
Trade debtors |
32,641,000 |
27,867,000 |
30,401,000 |
24,668,000 |
45,729,000 |
|
Other debtors, deposits & prepayments |
14,970,000 |
22,528,000 |
15,787,000 |
35,736,000 |
29,137,000 |
|
Cash & bank balances |
380,000 |
8,744,000 |
1,703,000 |
5,397,000 |
53,800,000 |
|
Others |
87,000 |
196,000 |
37,000 |
38,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
196,190,000 |
185,866,000 |
218,415,000 |
160,116,000 |
231,392,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,809,875,000 |
1,832,617,000 |
1,831,593,000 |
1,557,501,000 |
1,222,715,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
88,752,000 |
82,276,000 |
82,205,000 |
43,405,000 |
48,139,000 |
|
Other creditors & accruals |
81,720,000 |
76,008,000 |
130,061,000 |
47,700,000 |
87,900,000 |
|
Hire purchase & lease creditors |
606,000 |
877,000 |
934,000 |
747,000 |
320,000 |
|
Bank overdraft |
2,229,000 |
- |
- |
- |
- |
|
Short term borrowings/Term loans |
125,750,000 |
95,072,000 |
34,636,000 |
15,585,000 |
805,000 |
|
Other borrowings |
55,210,000 |
48,447,000 |
48,346,000 |
- |
- |
|
Amounts owing to holding company |
19,252,000 |
3,549,000 |
27,391,000 |
2,903,000 |
- |
|
Amounts owing to related companies |
2,536,000 |
628,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
376,055,000 |
306,857,000 |
323,573,000 |
110,340,000 |
137,164,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(179,865,000) |
(120,991,000) |
(105,158,000) |
49,776,000 |
94,228,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,433,820,000 |
1,525,760,000 |
1,508,020,000 |
1,447,161,000 |
1,085,551,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
|
Capital reserve |
- |
- |
3,931,000 |
3,931,000 |
- |
|
Retained profit/(loss) carried forward |
(798,377,000) |
(739,483,000) |
(698,057,000) |
(712,585,000) |
(766,294,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(798,377,000) |
(739,483,000) |
(694,126,000) |
(708,654,000) |
(766,294,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,040,821,000 |
1,099,715,000 |
1,145,072,000 |
1,130,544,000 |
1,072,904,000 |
|
Long term loans |
392,728,000 |
425,168,000 |
354,312,000 |
308,211,000 |
- |
|
Lease obligations |
271,000 |
877,000 |
- |
- |
- |
|
Hire purchase creditors |
- |
- |
1,755,000 |
1,855,000 |
905,000 |
|
Others |
- |
- |
6,881,000 |
6,551,000 |
11,742,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
392,999,000 |
426,045,000 |
362,948,000 |
316,617,000 |
12,647,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,433,820,000 |
1,525,760,000 |
1,508,020,000 |
1,447,161,000 |
1,085,551,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
SABAH FOREST INDUSTRIES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
380,000 |
8,744,000 |
1,703,000 |
5,397,000 |
53,800,000 |
|
Net Liquid Funds |
(1,849,000) |
8,744,000 |
1,703,000 |
5,397,000 |
53,800,000 |
|
Net Liquid Assets |
(327,977,000) |
(247,522,000) |
(275,645,000) |
(44,501,000) |
(8,498,000) |
|
Net Current Assets/(Liabilities) |
(179,865,000) |
(120,991,000) |
(105,158,000) |
49,776,000 |
94,228,000 |
|
Net Tangible Assets |
1,433,820,000 |
1,525,760,000 |
1,508,020,000 |
1,447,161,000 |
1,085,551,000 |
|
Net Monetary Assets |
(720,976,000) |
(673,567,000) |
(638,593,000) |
(361,118,000) |
(21,145,000) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(39,035,000) |
(42,674,000) |
300,000 |
29,850,000 |
81,032,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
63,520,000 |
61,895,000 |
61,246,000 |
85,658,000 |
129,769,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
576,794,000 |
570,441,000 |
439,983,000 |
326,398,000 |
2,030,000 |
|
Total Liabilities |
769,054,000 |
732,902,000 |
686,521,000 |
426,957,000 |
149,811,000 |
|
Total Assets |
1,809,875,000 |
1,832,617,000 |
1,831,593,000 |
1,557,501,000 |
1,222,715,000 |
|
Net Assets |
1,433,820,000 |
1,525,760,000 |
1,508,020,000 |
1,447,161,000 |
1,085,551,000 |
|
Net Assets Backing |
1,040,821,000 |
1,099,715,000 |
1,145,072,000 |
1,130,544,000 |
1,072,904,000 |
|
Shareholders' Funds |
1,040,821,000 |
1,099,715,000 |
1,145,072,000 |
1,130,544,000 |
1,072,904,000 |
|
Total Share Capital |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
1,839,198,000 |
|
Total Reserves |
(798,377,000) |
(739,483,000) |
(694,126,000) |
(708,654,000) |
(766,294,000) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.00 |
0.03 |
0.01 |
0.05 |
0.39 |
|
Liquid Ratio |
0.13 |
0.19 |
0.15 |
0.60 |
0.94 |
|
Current Ratio |
0.52 |
0.61 |
0.68 |
1.45 |
1.69 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
108 |
94 |
183 |
86 |
82 |
|
Debtors Ratio |
24 |
21 |
33 |
22 |
36 |
|
Creditors Ratio |
65 |
61 |
88 |
39 |
38 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.55 |
0.52 |
0.38 |
0.29 |
0.00 |
|
Liabilities Ratio |
0.74 |
0.67 |
0.60 |
0.38 |
0.14 |
|
Times Interest Earned Ratio |
(1.26) |
(1.90) |
0.36 |
52.55 |
238.33 |
|
Assets Backing Ratio |
0.78 |
0.83 |
0.82 |
0.79 |
0.59 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(13.99) |
(13.29) |
(0.16) |
7.28 |
17.60 |
|
Net Profit Margin |
(11.74) |
(8.64) |
4.28 |
13.40 |
25.25 |
|
Return On Net Assets |
(2.72) |
(2.80) |
0.02 |
2.06 |
7.46 |
|
Return On Capital Employed |
(2.72) |
(2.80) |
0.02 |
2.06 |
7.46 |
|
Return On Shareholders' Funds/Equity |
(5.66) |
(3.85) |
1.27 |
4.77 |
10.79 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.