|
EXECUTIVE
SUMMARY
|
REGISTRATION NO.
|
:
|
236868-D
|
|
COMPANY NAME
|
:
|
TIAN SENG HANG
TRADING COMPANY SDN. BHD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
24/03/1992
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
EXEMPT PRIVATE
(LIMITED BY SHARE)
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
851, JALAN PERMATANG
PAUH, 13400 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
BUSINESS ADDRESS
|
:
|
851, JALAN
PERMATANG PAUH, 13400 BUTTERWORTH, PULAU PINANG, MALAYSIA.
|
|
TEL.NO.
|
:
|
04-3325666
|
|
FAX.NO.
|
:
|
04-3310310
|
|
EMAIL
|
:
|
INFO@BEANS-SPICES.COM
|
|
WEB SITE
|
:
|
WWW.BEANS-SPICES.COM
|
|
CONTACT PERSON
|
:
|
TAN TI HOR (
MANAGING DIRECTOR )
|
|
|
|
|
INDUSTRY CODE
|
:
|
46329
|
|
PRINCIPAL ACTIVITY
|
:
|
TRADING OF
DRIED FOODS
|
|
AUTHORISED CAPITAL
|
:
|
MYR
5,000,000.00 DIVIDED INTO
ORDINARY SHARE 5,000,000.00 OF MYR 1.00 EACH.
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
MYR
1,500,000.00 DIVIDED INTO
ORDINARY SHARES 1,500,000 CASH OF MYR 1.00 EACH.
|
|
|
|
|
SALES
|
:
|
N/A
|
|
NET WORTH
|
:
|
N/A
|
|
|
|
|
STAFF STRENGTH
|
:
|
15 [2015]
|
|
BANKER (S)
|
:
|
|
MALAYAN
BANKING BHD
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
DEFAULTER CHECK
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
N/A
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL RISK
|
:
|
HIGH
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
AVERAGE GROWTH
|
HISTORY
/ BACKGROUND
The Subject is
an exempt private company which is allowed to have a minimum of two and a
maximum of twenty shareholders and all the shareholders must be individuals. An
exempt company is a type of private limited company. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts,
suing or be sued by other companies. The Subject is governed by the Companies
Act, 1965 and must file in its annual return. The Subject need not file in
its financial statements but it has to file in a document duly signed by its
director in charge of its finance, the secretary and its auditor stating that
the Subject is able to meet all its obligations as and when they fall due.
Although the Subject is not required to file in its financial statements, it
also has to prepare its financial account which must be presented at the
Annual General Meeting.
The Subject i
s principally
engaged in the (as a / as an) trading of dried foods.
The Subject is
not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date
|
Authorised Shared Capital
|
Issue & Paid Up Capital
|
|
15/02/2013
|
MYR 5,000,000.00
|
MYR 1,500,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MR. TAN TI HOR +
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
630323-07-5565 7080372
|
680,000.00
|
45.33
|
|
TAN AH KOW @ TAN AIK CHEAH +
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
2050229
|
500,000.00
|
33.33
|
|
TAN IT SONG @ TAN KANG SONG
|
2-A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
A0774138
|
150,000.00
|
10.00
|
|
TAN SAI HOAY
|
2-A, RESIDENCY ROAD, PENANG, 10450 PULAU PINANG, PULAU PINANG,
MALAYSIA.
|
1752921
|
50,000.00
|
3.33
|
|
TAN LEE CHIN @ TAN KANG CHIN
|
2-A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
A0253045
|
30,000.00
|
2.00
|
|
LAU SIEW KHIM
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
0531206
|
30,000.00
|
2.00
|
|
TAN LEE SWAN
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
2548578
|
30,000.00
|
2.00
|
|
TAN SIEW YONG @ TAN KANG YONG
|
2-A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
7323252
|
30,000.00
|
2.00
|
|
|
|
---------------
|
------
|
|
|
|
1,500,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
TAN AH KOW @ TAN AIK CHEAH
|
|
Address
|
:
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
2050229
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
24/03/1992
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. TAN TI HOR
|
|
Address
|
:
|
2A, RESIDENCY ROAD, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA.
|
|
IC / PP No
|
:
|
7080372
|
|
New IC No
|
:
|
630323-07-5565
|
|
Date of Birth
|
:
|
23/03/1963
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
|
|
Date of Appointment
|
:
|
24/03/1992
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
TAN TI HOR
|
|
Position
|
:
|
MANAGING DIRECTOR
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
YAT CHEONG & CO.
|
|
Auditor' Address
|
:
|
ROOM A, 47, LENGKOK CANNING, IPOH GARDEN, GROUND FLOOR, 31400 IPOH,
PERAK, MALAYSIA.
|
|
|
|
|
|
|
COMPANY
SECRETARIES
|
1)
|
Company Secretary
|
:
|
MS. TAN MOY ENG
|
|
IC / PP No
|
:
|
4407706
|
|
New IC No
|
:
|
530222-07-5090
|
|
Address
|
:
|
11, JALAN PANTAI JERJAK 16, 11900 BAYAN LEPAS, PULAU PINANG,
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
|
28/03/1995
|
N/A
|
DANAHARTA URUS SDN BHD
|
MYR 1,900,000.00
|
Satisfied
|
|
2
|
16/08/1996
|
N/A
|
DANAHARTA URUS SDN BHD
|
MYR 900,000.00
|
Satisfied
|
|
3
|
04/02/1997
|
N/A
|
DANAHARTA URUS SDN BHD
|
MYR 1,500,000.00
|
Satisfied
|
|
4
|
24/03/2005
|
N/A
|
MALAYAN BANKING BERHAD
|
MYR 1,530,000.00
|
Satisfied
|
|
5
|
16/06/2008
|
N/A
|
UNITED OVERSEAS BANK (MALAYSIA) BHD
|
-
|
Unsatisfied
|
|
6
|
04/05/2012
|
N/A
|
AFFIN BANK 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.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
Import Countries
|
:
|
CHINA,INDIA,CANADA,MYANMAR
|
CLIENTELE
|
Local
|
:
|
YES
|
Percentage
|
:
|
100%
|
|
Domestic Markets
|
:
|
MALAYSIA
|
|
Overseas
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
|
Credit Term
|
:
|
30 DAYS
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
Type of Customer
|
:
|
WHOLESALERS,FOOD MANUFACTURERS
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Total Number of Employees:
|
|
|
YEAR
|
2015
|
2014
|
2013
|
2012
|
2011
|
|
|
|
|
|
GROUP
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
|
|
|
|
|
COMPANY
|
15
|
15
|
15
|
20
|
20
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of dried
foods.
The Subject mainly focuses on spices and dry beans.
The spices such as cummin seeds, fennel seeds, black & white peppers,
cloves, cinnamon sticks, star anises, coriander seeds, white millets,
mushrooms, blade fungus, tamarind sliced.
Besides that the Subject trades wide range of beans including green mung
beans, red kidney beans, black beans, soya beans, black eye beans, blanched
peanut, groundnuts, almonds, chick peas, cashew nuts, topiaco pearls (sago),
tapioca and others.
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client
|
:
|
6043325666
|
|
Current Telephone Number
|
:
|
04-3325666
|
|
Match
|
:
|
YES
|
|
|
|
|
Address Provided by Client
|
:
|
851, JALAN PERMATANG PAUH, 13400 BUTTERWORTH, PULAU PINANG,
MALAYSIA.
|
|
Current Address
|
:
|
851, JALAN PERMATANG PAUH, 13400 BUTTERWORTH, PULAU PINANG,
MALAYSIA.
|
|
Match
|
:
|
YES
|
|
|
|
|
Latest Financial Accounts
|
:
|
NO
|
|
On 24th July 2015 we contacted one of the staff from the Subject and she
provided some information.
|
|
FINANCIAL
ANALYSIS
|
The Subject is a private exempt company which does not need to file
in its accounts with the Registrar of Companies for the information of the
public. Therefore, we are not able to comment on the Subject's financial
performance.
|
|
|
|
|
|
|
|
|
Overall financial condition of the
Subject : N/A
|
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
|
|
46329 : Wholesale of other foodstuffs
|
|
|
|
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
|
Incorporated in 1992, the Subject is an Exempt Private company, focusing on
trading of dried foods. The Subject has been in business for over two
decades. It has built up a strong clientele base and satisfactory reputation
will enable the Subject to further enhance its business in the near term.
The Subject is expected to enjoy a stable market shares. A paid up
capital of MYR 1,500,000 allows the Subject to expand its business more
comfortably. However, the Subject does not have strong shareholders’
backing. Without a strong shareholders' backing, the opportunity of the
Subject to expand its business is limited.
Investigation revealed that the Subject concentrates only on the local
market. This narrow market segment has placed the Subject at high business
risk and limits its business expansion opportunities. Any adverse changes
to the local economy might have a negative impact on the Subject's business
performance. Being a small company, the Subject's business operation is
supported by 15 employees. Overall, we regard that the Subject's management
capability is average. This indicates that the Subject has greater
potential to improve its business performance and raising income for the
Subject.
As the Subject is registered as an Exempt Private company, it is not
required to file financial statements for public review. As such, we are
unable to ascertain its present financial health.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the
Subject has a good control over its resources.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms.
In view of the above, we only recommend credit be proceeded to the Subject
with guarantee.
|
|
|
PROFIT
AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS)
|
|
Financial Year End
|
2007-03-31
|
|
Months
|
12
|
|
Consolidated Account
|
Company
|
|
Audited Account
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
|
Financial Type
|
FULL
|
|
Currency
|
MYR
|
|
|
|
TURNOVER
|
28,986,391
|
|
----------------
|
|
Total Turnover
|
28,986,391
|
|
Costs of Goods Sold
|
(25,779,565)
|
|
----------------
|
|
Gross Profit
|
3,206,826
|
|
----------------
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
506,339
|
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
506,339
|
|
Taxation
|
(91,413)
|
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
414,926
|
|
----------------
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS
|
414,926
|
|
----------------
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
|
414,926
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
As previously reported
|
1,474,166
|
|
----------------
|
|
As restated
|
1,474,166
|
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
1,889,092
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
1,889,092
|
|
=============
|
|
|
|
INTEREST EXPENSE (as per notes to P&L)
|
|
|
Bank overdraft
|
34,889
|
|
Term loan / Borrowing
|
70,036
|
|
Others
|
163,835
|
|
----------------
|
|
268,760
|
|
=============
|
|
|
|
DEPRECIATION (as per notes to P&L)
|
199,947
|
|
----------------
|
|
199,947
|
|
=============
|
BALANCE
SHEET
|
ASSETS EMPLOYED:
|
|
|
FIXED ASSETS
|
482,426
|
|
|
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
482,426
|
|
|
|
Stocks
|
3,290,095
|
|
Trade debtors
|
5,600,165
|
|
Other debtors, deposits & prepayments
|
87,057
|
|
Short term deposits
|
300,000
|
|
Cash & bank balances
|
107,288
|
|
Others
|
88,584
|
|
----------------
|
|
TOTAL CURRENT ASSETS
|
9,473,189
|
|
----------------
|
|
TOTAL ASSET
|
9,955,615
|
|
=============
|
|
|
|
CURRENT LIABILITIES
|
|
|
Trade creditors
|
1,916,056
|
|
Other creditors & accruals
|
174,099
|
|
Hire purchase & lease creditors
|
130,758
|
|
Bank overdraft
|
416,356
|
|
Bill & acceptances payable
|
3,113,000
|
|
Provision for taxation
|
111,412
|
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
5,861,681
|
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
3,611,508
|
|
----------------
|
|
TOTAL NET ASSETS
|
4,093,934
|
|
=============
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share capital
|
1,500,000
|
|
----------------
|
|
TOTAL SHARE CAPITAL
|
1,500,000
|
|
|
|
Retained profit/(loss) carried forward
|
1,889,092
|
|
----------------
|
|
TOTAL RESERVES
|
1,889,092
|
|
|
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
3,389,092
|
|
|
|
Hire purchase creditors
|
142,895
|
|
Deferred taxation
|
20,000
|
|
Others
|
541,947
|
|
----------------
|
|
TOTAL LONG TERM LIABILITIES
|
704,842
|
|
----------------
|
|
4,093,934
|
|
=============
|
|
|
FINANCIAL
RATIO
|
TYPES OF FUNDS
|
|
|
Cash
|
407,288
|
|
Net Liquid Funds
|
(3,122,068)
|
|
Net Liquid Assets
|
321,413
|
|
Net Current Assets/(Liabilities)
|
3,611,508
|
|
Net Tangible Assets
|
4,093,934
|
|
Net Monetary Assets
|
(383,429)
|
|
|
|
PROFIT & LOSS ITEMS
|
|
|
Earnings Before Interest & Tax (EBIT)
|
775,099
|
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA)
|
975,046
|
|
|
|
BALANCE SHEET ITEMS
|
|
|
Total Borrowings
|
3,803,009
|
|
Total Liabilities
|
6,566,523
|
|
Total Assets
|
9,955,615
|
|
Net Assets
|
4,093,934
|
|
Net Assets Backing
|
3,389,092
|
|
Shareholders' Funds
|
3,389,092
|
|
Total Share Capital
|
1,500,000
|
|
Total Reserves
|
1,889,092
|
|
|
|
LIQUIDITY (Times)
|
|
|
Cash Ratio
|
0.07
|
|
Liquid Ratio
|
1.05
|
|
Current Ratio
|
1.62
|
|
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
Stock Ratio
|
41
|
|
Debtors Ratio
|
71
|
|
Creditors Ratio
|
27
|
|
|
|
SOLVENCY RATIOS (Times)
|
|
|
Gearing Ratio
|
1.12
|
|
Liabilities Ratio
|
1.94
|
|
Times Interest Earned Ratio
|
2.88
|
|
Assets Backing Ratio
|
2.73
|
|
|
|
PERFORMANCE RATIO (%)
|
|
|
Operating Profit Margin
|
1.75
|
|
Net Profit Margin
|
1.43
|
|
Return On Net Assets
|
18.93
|
|
Return On Capital Employed
|
16.70
|
|
Return On Shareholders' Funds/Equity
|
12.24
|
|
|
|