|
Report No. : |
330294 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CARPET PRIMA SDN. BHD. |
|
|
|
|
Formerly Known As : |
PREMIER WEAVERS SDN BHD (31/05/2013) PREMIER PILLAR SDN BHD (25/04/2008) |
|
|
|
|
Registered Office : |
Suite 25-5-16, Plaza Prima, 4 1/2, Jalan Klang Lama, (5th Floor), 58000 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Date of Incorporation : |
31.01.2005 |
|
|
|
|
Com. Reg. No.: |
680163-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Carpets |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
680163-X |
||||
|
COMPANY NAME |
: |
CARPET PRIMA
SDN. BHD. |
||||
|
FORMER NAME |
: |
PREMIER WEAVERS SDN BHD (31/05/2013) |
||||
|
INCORPORATION DATE |
: |
31/01/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SUITE 25-5-16, PLAZA PRIMA, 4 1/2, JALAN
KLANG LAMA, (5TH FLOOR), 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 107 JALAN 6 OFF JALAN CHAN SOW LIN
SUNGAI BESI, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-92365555 |
||||
|
FAX.NO. |
: |
03-92365589 |
||||
|
HP.NO. |
: |
0172888111 |
||||
|
CONTACT PERSON |
: |
DEEPAK JAIKISHAN A/L JAIKISHAN REWACHAND (
DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
13930 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING CARPETS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 12,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
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 carpets.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is AFFLUENT CORRIDOR SDN. BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared
Capital |
Issue & Paid
Up Capital |
|
15/02/2013 |
MYR 25,000,000.00 |
MYR 12,000,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AFFLUENT CORRIDOR SDN. BHD. |
B1-1, JALAN SELAMAN 1, DATARAN PALMA,
68000 AMPANG, SELANGOR, MALAYSIA. |
758628P |
12,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
12,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
826451W |
MALAYSIA |
MEGA SCORE TRADING SDN. BHD. |
70.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. RAJESH A/L JAIKISHAN |
|
Address |
: |
6, SIMPANG TUNKU PUTRA, BUKIT TUNKU, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A2700909 |
|
New IC No |
: |
730805-14-5827 |
|
Date of Birth |
: |
05/08/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. MOHD SHUKRI BIN ABDULLAH |
|
Address |
: |
132, LORONG BARAT, OFF JALAN LEE WOON, TAMAN
ZOO VIEW, 68000 AMPANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A0554444 |
|
New IC No |
: |
661130-01-5365 |
|
Date of Birth |
: |
30/11/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/04/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. JASRAAJ SINGH SANDU A/L JASPAL SINGH |
|
Address |
: |
133, LARUH SKIM, PETRA JAYA, 93050
KUCHING, SARAWAK, MALAYSIA. |
|
New IC No |
: |
830307-13-5763 |
|
Date of Birth |
: |
07/03/1983 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/01/2009 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. DHANESH A/L JAIKISHAN REWACHAND |
|
Address |
: |
58, JALAN TUANKU ABDUL RAHMAN, 50100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A3411599 |
|
New IC No |
: |
760331-14-5127 |
|
Date of Birth |
: |
31/03/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2009 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. DEEPAK JAIKISHAN A/L JAIKISHAN
REWACHAND |
|
Address |
: |
6, JALAN TUANKU ABDUL RAHMAN, BUKIT TUNKU,
50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A2115370 |
|
New IC No |
: |
720311-04-5165 |
|
Date of Birth |
: |
11/03/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/04/2006 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DEEPAK JAIKISHAN A/L JAIKISHAN REWACHAND |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
LOURDES & KANNAN |
|
Auditor' Address |
: |
25-5-15, PLAZA PRIMA, BT.4 1/2 JALAN KLANG LAMA, 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. TAN HENG PANG |
|
IC / PP No |
: |
4559168 |
|
|
New IC No |
: |
540123-10-5003 |
|
|
Address |
: |
52, JALAN NYAMAN 4, TAMAN GEMBIRA, JALAN KLANG LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BANK PEMBANGUNAN MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
09/08/2006 |
N/A |
BANK PEMBANGUNAN MALAYSIA BHD |
- |
Satisfied |
|
2 |
06/12/2007 |
N/A |
KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD |
MYR 170,000,000.00 |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* 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.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose it's suppliers.
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Competitor(s) |
: |
CARPET RAYA MANUFACTURING SDN BHD |
|||||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2012 |
2011 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
250 |
200 |
200 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing carpets.
The Subject refused to disclose its business operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-92365555 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 107 JALAN 6 OFF JALAN CHAN SOW LIN
SUNGAI BESI,55200,KUALA LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
LOT 107 JALAN 6 OFF JALAN CHAN SOW LIN
SUNGAI BESI, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other
Investigations
We contacted Mr Rajesh the Director and he provided some information.
He refused to disclose the number of employees.
FINANCIAL
ANALYSIS
|
|
|
|
No latest financial accounts are available
at the Registry Office, thus we are not able to comment on the Subject's
financial performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
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 |
|
|
13930 : Manufacture of carpets and rugs |
|
|
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
|
|
The industry shows an upward trend and
this trend is very likely to sustain in the near terms. In view of the above, we recommend credit
be granted to the Subject with close monitoring. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
CARPET PRIMA
SDN. BHD. |
|
Financial Year End |
2010-06-30 |
2009-06-30 |
2008-06-30 |
2007-06-30 |
2006-06-30 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
33,458,681 |
33,399,273 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
33,458,681 |
33,399,273 |
- |
- |
- |
|
Costs of Goods Sold |
(21,804,693) |
(19,775,567) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
11,653,988 |
13,623,706 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,410,192 |
1,191,267 |
(32,577) |
(45,351) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,410,192 |
1,191,267 |
(32,577) |
(45,351) |
(1,020) |
|
Taxation |
(373,222) |
(308,833) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,036,970 |
882,434 |
(32,577) |
(45,351) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
1,036,970 |
882,434 |
(32,577) |
(45,351) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
1,036,970 |
882,434 |
(32,577) |
(45,351) |
(1,020) |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
803,486 |
(78,948) |
(46,371) |
(1,020) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
803,486 |
(78,948) |
(46,371) |
(1,020) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,840,456 |
803,486 |
(78,948) |
(46,371) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,840,456 |
803,486 |
(78,948) |
(46,371) |
(1,020) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Term loan / Borrowing |
7,999,459 |
9,030,000 |
- |
- |
- |
|
Others |
915,817 |
1,169,961 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,915,276 |
10,199,961 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
BALANCE
SHEET
|
|
|
|
CARPET PRIMA
SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
179,491,253 |
191,029,101 |
200,735,667 |
235,570 |
- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
- |
163,130,478 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
179,491,253 |
191,029,101 |
200,735,667 |
163,366,048 |
- |
|
Stocks |
11,999,982 |
10,191,998 |
- |
- |
- |
|
Trade debtors |
18,497,415 |
30,919,035 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
292,496 |
834,280 |
- |
- |
- |
|
Short term deposits |
- |
4,084,824 |
- |
- |
- |
|
Cash & bank balances |
49,344 |
50,276 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
30,839,237 |
46,080,413 |
17,730,520 |
358,378 |
100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
210,330,490 |
237,109,514 |
218,466,187 |
163,724,426 |
100,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
2,039,397 |
1,428,389 |
- |
- |
- |
|
Other creditors & accruals |
300,172 |
386,567 |
- |
- |
- |
|
Short term borrowings/Term loans |
75,359,530 |
72,184,500 |
- |
- |
- |
|
Amounts owing to related companies |
3,007,833 |
24,420,615 |
- |
- |
- |
|
Amounts owing to director |
20,864,822 |
21,073,020 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
101,571,754 |
119,493,091 |
37,636,295 |
36,339,234 |
1,020 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(70,732,517) |
(73,412,678) |
(19,905,775) |
(35,980,856) |
98,980 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
108,758,736 |
117,616,423 |
180,829,892 |
127,385,192 |
98,980 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
100,000 |
|
Retained profit/(loss) carried forward |
1,840,456 |
803,486 |
(78,948) |
(46,371) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,840,456 |
803,486 |
(78,948) |
(46,371) |
(1,020) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
13,840,456 |
12,803,486 |
11,921,052 |
11,953,629 |
98,980 |
|
Long term loans |
94,236,225 |
104,504,104 |
- |
- |
- |
|
Deferred taxation |
682,055 |
308,833 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
94,918,280 |
104,812,937 |
168,908,840 |
115,431,563 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
108,758,736 |
117,616,423 |
180,829,892 |
127,385,192 |
98,980 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
CARPET PRIMA
SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
49,344 |
4,135,100 |
- |
- |
- |
|
Net Liquid Funds |
49,344 |
4,135,100 |
- |
- |
- |
|
Net Liquid Assets |
(82,732,499) |
(83,604,676) |
(19,905,775) |
(35,980,856) |
98,980 |
|
Net Current Assets/(Liabilities) |
(70,732,517) |
(73,412,678) |
(19,905,775) |
(35,980,856) |
98,980 |
|
Net Tangible Assets |
108,758,736 |
117,616,423 |
180,829,892 |
127,385,192 |
98,980 |
|
Net Monetary Assets |
(177,650,779) |
(188,417,613) |
(188,814,615) |
(151,412,419) |
98,980 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
- |
- |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
0 |
0 |
- |
- |
- |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
169,595,755 |
176,688,604 |
- |
- |
- |
|
Total Liabilities |
196,490,034 |
224,306,028 |
206,545,135 |
151,770,797 |
1,020 |
|
Total Assets |
210,330,490 |
237,109,514 |
218,466,187 |
163,724,426 |
100,000 |
|
Net Assets |
108,758,736 |
117,616,423 |
180,829,892 |
127,385,192 |
98,980 |
|
Net Assets Backing |
13,840,456 |
12,803,486 |
11,921,052 |
11,953,629 |
98,980 |
|
Shareholders' Funds |
13,840,456 |
12,803,486 |
11,921,052 |
11,953,629 |
98,980 |
|
Total Share Capital |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
100,000 |
|
Total Reserves |
1,840,456 |
803,486 |
(78,948) |
(46,371) |
(1,020) |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.00 |
0.03 |
- |
- |
- |
|
Liquid Ratio |
0.19 |
0.30 |
- |
- |
- |
|
Current Ratio |
0.30 |
0.39 |
0.47 |
0.01 |
98.04 |
|
WORKING CAPITAL CONTROL
(Days) |
|||||
|
Stock Ratio |
131 |
111 |
- |
- |
- |
|
Debtors Ratio |
202 |
338 |
- |
- |
- |
|
Creditors Ratio |
34 |
26 |
- |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
12.25 |
13.80 |
- |
- |
- |
|
Liabilities Ratio |
14.20 |
17.52 |
17.33 |
12.70 |
0.01 |
|
Times Interest Earned Ratio |
1.16 |
1.12 |
- |
- |
- |
|
Assets Backing Ratio |
9.06 |
9.80 |
15.07 |
10.62 |
0.99 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
4.21 |
3.57 |
- |
- |
- |
|
Net Profit Margin |
3.10 |
2.64 |
- |
- |
- |
|
Return On Net Assets |
9.49 |
9.69 |
(0.02) |
(0.04) |
(1.03) |
|
Return On Capital Employed |
9.49 |
9.69 |
(0.02) |
(0.04) |
(1.03) |
|
Return On Shareholders' Funds/Equity |
7.49 |
6.89 |
(0.27) |
(0.38) |
(1.03) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.39 |
|
|
1 |
Rs. 98.94 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.