|
Report No. : |
331311 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPER ART TRADING SDN. BHD. |
|
|
|
|
Registered Office : |
67, Jalan Ali, 3rd Floor, 84000 Muar, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.09.1997 |
|
|
|
|
Com. Reg. No.: |
446838-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in trading of readymade garments & textiles |
|
|
|
|
No. of Employee : |
Not Available |
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 : |
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 |
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 |
|
REGISTRATION NO. |
: |
446838-D |
||||
|
COMPANY NAME |
: |
SUPER
ART TRADING SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
15/09/1997 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
67, JALAN ALI,
3RD FLOOR, 84000 MUAR, JOHOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 6042, JALAN
SUNGAI MATI, BATU 10, BUKIT KANGKAR, 84400 SUNGAI MATI, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
06-9751555 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
HP.NO. |
: |
0163215333 |
||||
|
CONTACT PERSON |
: |
TAN AI LEE (
DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46419 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF READY
MADE GARMENTS & TEXTILES |
||||
|
AUTHORISED
CAPITAL |
: |
MYR 1,000,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
MYR 500,000.00 DIVIDED
INTO |
||||
|
SALES |
: |
MYR 17,513,230
[2013] |
||||
|
NET WORTH |
: |
MYR 2,433,520
[2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
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) trading of
ready made garments & textiles.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue &
Paid Up Capital |
|
30/06/2014 |
MYR 1,000,000.00 |
MYR 500,000.00 |
|
31/10/2006 |
MYR 1,000,000.00 |
MYR 390,000.00 |
|
14/07/1999 |
MYR 1,000,000.00 |
MYR 90,000.00 |
|
15/09/1997 |
MYR 1,000,000.00 |
MYR 10.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SUPER ART
INDUSTRIES SDN. BHD. |
LOT 6042, JALAN SUNGAI
MATI, BATU 10, BUKIT KANGKAR, 84400 SUNGAI MATI, JOHOR, MALAYSIA. |
191206A |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. TAN CHUN MING |
|
Address |
: |
LOT 5924, TAMAN
BUKIT KANGKAR, SUNGAI MATI, 84400 SUNGAI MATI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
7250305 |
|
New IC No |
: |
640114-01-6023 |
|
Date of Birth |
: |
14/01/1964 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
15/09/1997 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. TAN AI LEE |
|
Address |
: |
284, BUKIT
KANGKAR, 84400 SUNGAI MATI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
6380798 |
|
New IC No |
: |
620109-01-5714 |
|
Date of Birth |
: |
09/01/1962 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
15/09/1997 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. NG AH CHENG |
|
Address |
: |
284, BUKIT KANGKAR,
84400 SUNGAI MATI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
A0013378 |
|
New IC No |
: |
650107-01-6032 |
|
Date of Birth |
: |
07/01/1965 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
15/09/1997 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN AI LEE |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
JOHN LIM &
ASSOCIATES |
|
Auditor' Address |
: |
67, ROOM A, JALAN
ALI, 2ND FLOOR, 84000 MUAR, JOHOR, MALAYSIA. |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. TAN WANG GIAP |
|
IC / PP No |
: |
A0067697 |
|
|
New IC No |
: |
650503-01-5883 |
|
|
Address |
: |
27, LORONG ARA 1,
TAMAN BAKARIAH, 84000 MUAR, JOHOR, MALAYSIA. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK
(MALAYSIA) BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
05/08/2009 |
N/A |
OCBC BANK
(MALAYSIA) BHD |
- |
Satisfied |
|
2 |
04/08/2014 |
CHARGE OVER CASH |
OCBC BANK
(MALAYSIA) BHD |
- |
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.
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 its suppliers.
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 |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
READY MADE
GARMENTS & TEXTILES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of ready made garments
& textiles.
The Subject is engaged in the trading of ready made garments and textiles for
children and adults.
RECENT DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA)
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current Telephone
Number |
: |
06-9751555 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
LOT 6042 EMR 6690
BUKIT KANGKAR 84400 LEDANG JOHOR |
|
Current Address |
: |
LOT 6042, JALAN
SUNGAI MATI, BATU 10, BUKIT KANGKAR, 84400 SUNGAI MATI, JOHOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial
Accounts |
: |
YES |
Other
Investigations
We contacted one of the Subject's Director Ms Tan and she provided limited
information.
She refused to disclose the fax number and number of employees.
The address as per stated in the report.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
0.78% |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
2.31% |
] |
|
|
The fluctuating
turnover reflects the fierce competition among the existing and new market
players.The Subject's management have been efficient in controlling its
operating costs. The unfavourable return on shareholders' funds could
indicate that the Subject was inefficient in utilising its assets to generate
returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
28 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
88 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
124 Days |
] |
|
|
The Subject's
stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in stocks. The Subject's debtors ratio was high. The Subject
should tighten its credit control and improve its collection period. 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 |
: |
Acceptable |
[ |
0.96 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.19 Times |
] |
|
|
The Subject's
liquid ratio was slightly low. This could indicate that the Subject's working
capital was slightly deficient. The Subject will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
1,196.53 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest
cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. The Subject had no gearing and hence
it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although the
turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs and
profitability. The Subject's liquidity was at an acceptable range. If the
Subject is able to obtain further short term financing, it should be able to
meet all its short term obligations. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing any
difficulties. The Subject was a zero gearing company, it was solely dependant
on its shareholders to provide funds to finance its business. The Subject has
good chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : LIMITED |
||||||
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 |
|
|
46419 : Wholesale
of textiles, clothing n.e.c. |
|
|
INDUSTRY : |
TRADING |
|
The wholesale and
retail trade is expected to increase 7.1% in 2015 (2014: 7.7%) driven by
strong domestic consumption and higher tourist arrivals following the
Malaysia Year of Festivals 2015. Besides, in 2014, the wholesale and retail
trade subsector is expected to increase 7.7% (2013: 6.4%) supported by strong
domestic consumption. |
|
|
According to
Retail Group Malaysia (RGM), the pharmacy and personal care sub-sector had
slow growth rate of 2.6% for the first quarter of 2014, while "other
specialty stores" grew at a rate of 3.5%. During the first quarter of
2014, fashion and fashion accessories recorded a sustainable growth of 6.3%
as compared with the same period last year (3.6%). |
|
|
The retail segment
increased 10.1% (January - June 2013: 7.1%) attributed to brisk sales in
retail outlets such as hypermarkets and large-scale superstores. Since the
launch of the Small Retailer Transformation programme (TUKAR) in January 2011
up to end-July 2014, 1,761 small retailer stores (end-July 2013: 1,381) have
been modernized to improve their competitiveness. In addition, the strong
growth of the retail segment was supported by 1Malaysia Unified Sales held
from 29 June 2014 to 1 September 2014 to attract foreign and local tourists
to shop in Malaysia. Meanwhile, the wholesale segment expanded 8.2% (January
- June 2013: 4.9%) due to higher sales of non-agricultural intermediate
products, such as petrol, diesel, lubricants and household goods.
Furthermore, food and beverage outlets, laundry outlets, car wash centres,
abd health and beauty outlets took a hit from the water rationing in the
Klang Valley since February this year. |
|
|
On the other
hand, in 2014, Malaysia's total trade is expected to grow 5.2% to RM1.44
trillion (2013: 4.5%; RM1.37 trillion) underpinned by recovery in key
advanced economies, resilient regional demand, and partly due to the base
effect arising from sluggish exports in the corresponding period last year.
Gross exports are anticipated to expand 6% to RM762.8 billion while import
decreased 4.3% to RM677.2 billion (2013: 2.4%; RM719.8 billion; 7%; RM 649.1
billion). Consequently, the trade surplus is expected to be higher at RM85.6
billion or 7.9% of GDP in 2014 (2013: RM70.7 billion; 7.2%). |
|
|
Furthermore,
gross exports rebounded by 10.7% to RM441.3 billion during the first seven
months of 2014 (January - July 2013: -2.8%; RM398.5 billion), with
manufactured and mining exports rising at a double digit pace of 11.4% and
12.5%. Shipment of agriculture products grew at a slower pace of 2.7%,
primarily due to lower receipts of crude rubber (-24.6%) while export growth
of other commodities remained steady. Consequently, exports of manufactured
and mining products are expected to grow 6.1% and 6.4% in 2014 (2013: 5.1%;
3.3%). Meanwhile, agriculture exports are expected to rebound sharply by 4.5%
in 2014 (2013: -14.4%) despite moderating commodity prices. Malaysia's top 3
trading partners are China, Singapore, and Japan. |
|
|
Over 60% of Gross
Domestic Product (GDP) is contributed by domestic consumption. Therefore the
wholesale and retail sector plays a crucial role in driving Malaysia's growth
over the next decade despite the ongoing global economic slowdown. By 2020,
Malaysia's wholesale and retail sector is expected to boost the country's
total Gross National Income (GNI) by RM156 billion, creating 454,190 new
jobs. |
|
|
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) |
|
SUPER ART
TRADING SDN. BHD. |
|
Financial Year
End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
17,513,230 |
15,514,386 |
18,844,974 |
17,321,056 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
17,513,230 |
15,514,386 |
18,844,974 |
17,321,056 |
|
Costs of Goods
Sold |
(16,487,365) |
(14,524,691) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,025,865 |
989,695 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
56,190 |
48,825 |
78,489 |
156,700 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
56,190 |
48,825 |
78,489 |
156,700 |
|
Taxation |
(37,206) |
(30,703) |
(66,905) |
(66,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
18,984 |
18,122 |
11,584 |
90,700 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously
reported |
1,914,536 |
1,896,414 |
6,884,830 |
6,794,130 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,914,536 |
1,896,414 |
6,884,830 |
6,794,130 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
1,933,520 |
1,914,536 |
6,896,414 |
6,884,830 |
|
DIVIDENDS -
Ordinary (paid & proposed) |
- |
- |
(5,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
CARRIED FORWARD |
1,933,520 |
1,914,536 |
1,896,414 |
6,884,830 |
|
============= |
============= |
============= |
============= |
|
|
Hire purchase |
47 |
2,859 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
47 |
2,859 |
- |
- |
|
|
============= |
============= |
- |
- |
|
|
DEPRECIATION (as
per notes to P&L) |
124,509 |
142,561 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
124,509 |
142,561 |
- |
- |
|
|
============= |
============= |
|
BALANCE
SHEET
|
|
SUPER ART
TRADING SDN. BHD. |
|
ASSETS
EMPLOYED: |
||||
|
FIXED ASSETS |
1,310,399 |
1,397,842 |
1,206,997 |
1,055,602 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
1,310,399 |
1,397,842 |
1,206,997 |
1,055,602 |
|
Stocks |
1,365,400 |
1,410,651 |
- |
- |
|
Trade debtors |
4,218,988 |
4,094,737 |
- |
- |
|
Other debtors,
deposits & prepayments |
33,291 |
52,455 |
- |
- |
|
Amount due from
holding company |
11,020 |
5,820 |
- |
- |
|
Amount due from
related companies |
1,016,506 |
1,648,074 |
- |
- |
|
Cash & bank
balances |
338,273 |
289,511 |
- |
- |
|
Others |
- |
108,950 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
6,983,478 |
7,610,198 |
8,113,071 |
10,873,064 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
8,293,877 |
9,008,040 |
9,320,068 |
11,928,666 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade creditors |
5,580,638 |
6,283,896 |
- |
- |
|
Other creditors
& accruals |
252,032 |
294,737 |
- |
- |
|
Hire purchase
& lease creditors |
- |
7,754 |
- |
- |
|
Amounts owing to
director |
13,972 |
- |
- |
- |
|
Provision for
taxation |
11,511 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,858,153 |
6,586,387 |
6,901,099 |
4,537,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
1,125,325 |
1,023,811 |
1,211,972 |
6,335,135 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,435,724 |
2,421,653 |
2,418,969 |
7,390,737 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share
capital |
500,000 |
500,000 |
500,000 |
390,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
500,000 |
500,000 |
500,000 |
390,000 |
|
Retained
profit/(loss) carried forward |
1,933,520 |
1,914,536 |
1,896,414 |
6,884,830 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,933,520 |
1,914,536 |
1,896,414 |
6,884,830 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
2,433,520 |
2,414,536 |
2,396,414 |
7,274,830 |
|
Deferred taxation |
2,204 |
7,117 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
LIABILITIES |
2,204 |
7,117 |
22,555 |
115,907 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,435,724 |
2,421,653 |
2,418,969 |
7,390,737 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
SUPER
ART TRADING SDN. BHD. |
|
TYPES
OF FUNDS |
||||
|
Cash |
338,273 |
289,511 |
- |
- |
|
Net
Liquid Funds |
338,273 |
289,511 |
- |
- |
|
Net
Liquid Assets |
(240,075) |
(386,840) |
1,211,972 |
6,335,135 |
|
Net
Current Assets/(Liabilities) |
1,125,325 |
1,023,811 |
1,211,972 |
6,335,135 |
|
Net
Tangible Assets |
2,435,724 |
2,421,653 |
2,418,969 |
7,390,737 |
|
Net
Monetary Assets |
(242,279) |
(393,957) |
1,189,417 |
6,219,228 |
|
PROFIT
& LOSS ITEMS |
||||
|
Earnings
Before Interest & Tax (EBIT) |
56,237 |
51,684 |
- |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
180,746 |
194,245 |
- |
- |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
0 |
7,754 |
- |
- |
|
Total
Liabilities |
5,860,357 |
6,593,504 |
6,923,654 |
4,653,836 |
|
Total
Assets |
8,293,877 |
9,008,040 |
9,320,068 |
11,928,666 |
|
Net
Assets |
2,435,724 |
2,421,653 |
2,418,969 |
7,390,737 |
|
Net
Assets Backing |
2,433,520 |
2,414,536 |
2,396,414 |
7,274,830 |
|
Shareholders'
Funds |
2,433,520 |
2,414,536 |
2,396,414 |
7,274,830 |
|
Total
Share Capital |
500,000 |
500,000 |
500,000 |
390,000 |
|
Total
Reserves |
1,933,520 |
1,914,536 |
1,896,414 |
6,884,830 |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.06 |
0.04 |
- |
- |
|
Liquid
Ratio |
0.96 |
0.94 |
- |
- |
|
Current
Ratio |
1.19 |
1.16 |
1.18 |
2.40 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
28 |
33 |
- |
- |
|
Debtors
Ratio |
88 |
96 |
- |
- |
|
Creditors
Ratio |
124 |
158 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
0.00 |
0.00 |
- |
- |
|
Liabilities
Ratio |
2.41 |
2.73 |
2.89 |
0.64 |
|
Times
Interest Earned Ratio |
1,196.53 |
18.08 |
- |
- |
|
Assets
Backing Ratio |
4.87 |
4.84 |
4.84 |
18.95 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
0.32 |
0.31 |
0.42 |
0.90 |
|
Net
Profit Margin |
0.11 |
0.12 |
0.06 |
0.52 |
|
Return
On Net Assets |
2.31 |
2.13 |
3.24 |
2.12 |
|
Return
On Capital Employed |
2.31 |
2.13 |
3.24 |
2.12 |
|
Return
On Shareholders' Funds/Equity |
0.78 |
0.75 |
0.48 |
1.25 |
|
Dividend
Pay Out Ratio (Times) |
0.00 |
0.00 |
431.63 |
- |
|
NOTES
TO ACCOUNTS |
||||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.