|
Report No. : |
325103 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALUMINIUM COMPANY
OF MALAYSIA BHD |
|
|
|
|
Formerly Known As : |
ALCAN MALAYSIA BHD |
|
|
|
|
Registered Office : |
3, Persiaran Waja, Kawasan Perindustrian Bukit Raja, 41050 Klang, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
18.07.1960 |
|
|
|
|
Com. Reg. No.: |
3859-U |
|
|
|
|
Legal Form : |
Public |
|
|
|
|
Line of Business : |
Manufacturing of Aluminium Sheet and Foil Products. |
|
|
|
|
No. of Employees : |
350 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since
the 1970s from a producer of raw materials into an emerging multi-sector
economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve
high-income status by 2020 and to move farther up the value-added production
chain by attracting investments in Islamic finance, high technology industries,
biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a
series of projects and policy measures intended to accelerate the country's
economic growth. The government has also taken steps to liberalize some
services sub-sectors. The NAJIB administration also is continuing efforts to
boost domestic demand and reduce the economy's dependence on exports.
Nevertheless, exports - particularly of electronics, oil and gas, palm oil and
rubber - remain a significant driver of the economy. As an oil and gas
exporter, Malaysia has profited from higher world energy prices, although the
rising cost of domestic gasoline and diesel fuel, combined with sustained
budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls,
through initial reductions in energy and sugar subsidies and the announcement
of the 2015 implementation of a 6% goods and services tax. Falling global oil
prices in the second half of 2014 have 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
supplies about 32% of government revenue in 2013. Bank Negara Malaysia (central
bank) maintains healthy foreign exchange reserves, and a well-developed
regulatory regime has limited Malaysia's exposure to riskier financial
instruments and the global financial crisis. Nevertheless, Malaysia could be
vulnerable to a fall in commodity prices or a general slowdown in global
economic activity because exports are a major component of GDP. In order to
attract increased investment, NAJIB earlier raised possible revisions to the
special economic and social preferences accorded to ethnic Malays under the New
Economic Policy of 1970, but retreated in 2013 after he encountered significant
opposition from Malay nationalists and other vested interests. In September
2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies
that favor and advance the economic condition of ethnic Malays. 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. |
: |
3859-U |
||||
|
COMPANY
NAME |
: |
ALUMINIUM
COMPANY OF MALAYSIA BHD |
||||
|
FORMER
NAME |
: |
ALCAN
MALAYSIA BHD (20/04/1976) |
||||
|
INCORPORATION
DATE |
: |
18/07/1960 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PUBLIC |
||||
|
LISTED
STATUS |
: |
YES |
||||
|
LISTED
DATE |
: |
20/12/1969 |
||||
|
REGISTERED
ADDRESS |
: |
3,
PERSIARAN WAJA, KAWASAN PERINDUSTRIAN BUKIT RAJA, 41050 KLANG, SELANGOR,
MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
3,
PERSIARAN WAJA, BUKIT RAJA INDUSTRIAL ESTATE, 41050 KLANG, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-33412311 |
||||
|
FAX.NO. |
: |
03-33412793 |
||||
|
WEB
SITE |
: |
WWW.ALCOM.COM.MY |
||||
|
CONTACT
PERSON |
: |
KOK
WEE KIAT ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
24202
|
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
OF ALUMINIUM SHEET AND FOIL PRODUCTS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
200,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
132,251,848.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
259,169,000 [2014] |
||||
|
NET
WORTH |
: |
MYR
176,858,000 [2014] |
||||
|
M1000
OVERALL RANKING |
: |
603[2009] |
||||
|
M1000
INDUSTRY RANKING |
: |
12[2009] |
||||
|
STAFF
STRENGTH |
: |
350
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
HISTORY/
BACKGROUND
|
As a public limited company, the Subject must
have at least one shareholder but there is no limit on the maximum number of
shareholders. The Subject must have at least two directors. A public 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 liabilities of the shareholders are only up
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 must file in its annual return,
together with its financial statements with the Registrar of Companies. In
Malaysia, all the companies seeking listing on the Bursa Malaysia (Malaysia
Stock Exchange) must be public limited companies.
The Subject is principally engaged in the (as
a / as an) manufacturing of aluminium sheet and foil products.
The Subject was listed on the Main Board of
Bursa Malaysia Securities Bhd on 20/12/1969
|
According
to the Malaysia 1000 publication, the Subject's ranking are as follows: |
|
||||
|
|||||
|
YEAR |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL
RANKING |
603 |
692 |
747 |
575 |
|
|
INDUSTRY
RANKING |
12 |
12 |
9 |
6 |
|
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
30/06/2014 |
MYR
200,000,000.00 |
MYR
132,251,848.00 |
The
major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
NOVELIS
INC. |
- |
4260139 |
78,234,054.00 |
59.16 |
|
MAYBANK
NOMINEES (TEMPATAN) SDN. BHD. FOR PLEDGED SECURITIES ACCOUNT FOR ONG KOK THYE |
- |
258939H |
1,196,300.00 |
0.90 |
|
MS.
LEE YU YONG @ LEE YUEN YING |
104,
JALAN ATHINAHAPAN SATU, TAMAN TUN DR ISMAIL, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
491002-05-5312
2008847 |
1,033,500.00 |
0.78 |
|
TOH
KAM CHOY |
171-14,
SRI WANG SARIA CONDOMINIUM, JALAN ARA, BANGSAR, MALAYSIA. |
340915-10-5419
2132334 |
1,029,000.00 |
0.78 |
|
LIM
KIAN HUAT |
11,
JALAN PERISA 2, TAMAN GEMBIRA, KUCHAI LAMA, 58200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
S0146959B |
859,000.00 |
0.65 |
|
MR.
YEOH AH TU |
2A,
CHANGKAT DATUK SULAIMAN 1, TTDI HILLS, 60000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
510207-02-5265
7518222 |
742,200.00 |
0.56 |
|
PUBLIC
NOMINEES (TEMPATAN) SDN. BHD. FOR PLEDGED SECURITIES ACCOUNT FOR ONG KOK THYE
(E-SPI) |
TB
304A & 304B, BLOCK 34, FAJAR COMPLEX, 91000 TAWAU, SABAH, MALAYSIA. |
6464T |
723,300.00 |
0.55 |
|
ADDEEN
CONSULTANCY & MANAGEMENT SDN. BHD. |
MALAYSIA |
333030X |
715,600.00 |
0.54 |
|
CHONG
KOK FAH |
124,
JALAN BUNGA RAYA, EASTERN GARDEN, 83700 YONG PENG, JOHOR, MALAYSIA. |
600422-01-5608
5858102 |
628,000.00 |
0.47 |
|
MR.
YEOH KEAN HUA |
25,
MARKET STREET, 30000 IPOH, PERAK, MALAYSIA. |
381021-08-5229 |
564,000.00 |
0.43 |
|
REMAINING
SHAREHOLDERS |
- |
- |
46,526,894.00 |
35.18 |
|
--------------- |
------ |
|||
|
132,251,848.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
(%) |
As
At |
|
203469H |
MALAYSIA |
ALCOM
NIKKEI SPECIALTY COATINGS SDN. BHD. |
100.00 |
31/03/2014 |
|
523448D |
MALAYSIA |
AL
DOTCOM SDN. BHD. |
100.00 |
31/03/2014 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
HEON CHEE SHYONG |
|
Address |
: |
31,
JALAN ANGGERIK ARANDA 31/24, KOTA KEMUNING, 40460 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
IC
/ PP No |
: |
A0823101 |
|
New
IC No |
: |
670930-10-5769 |
|
Date
of Birth |
: |
30/09/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
17/11/2014 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
SHASHI KANT MAUDGAL |
|
Address |
: |
SOMERSET
PALACE SEOUL, 85, SUSONG-DONG, JUNGNO-GU, SEOUL, 110-885, SOUTH KOREA. |
|
IC
/ PP No |
: |
Z2330563 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
01/06/2012 |
DIRECTOR
3
|
Name
Of Subject |
: |
Y.M.
TENGKU YUNUS KAMARUDDIN |
|
Address |
: |
PRICE
WATERHOUSE, WISMA SIME DARBY, TINGKAT 5, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC
/ PP No |
: |
5989082 |
|
New
IC No |
: |
401213-03-5133 |
|
Date
of Birth |
: |
13/12/1940 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
27/12/2001 |
DIRECTOR
4
|
Name
Of Subject |
: |
Y.A.M
TUNKU IMRAN IBNI TUANKU JA'AFAR TAN SRI |
|
Address |
: |
33,
JALAN SEMANTAN 2, DAMANSARA HEIGHTS, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC
/ PP No |
: |
5676668 |
|
New
IC No |
: |
480321-05-5295 |
|
Date
of Birth |
: |
21/03/1948 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
27/07/1987 |
DIRECTOR
5
|
Name
Of Subject |
: |
MR.
PAUL ALLEN STADNIKIA |
|
Address |
: |
WILLOW
1902 HO, SK LEADER'S, VIEW NAMSAN, 206, HOEHYEON-DONG 1, GA, JOON-GU, SEOUL,
100-051, KOREA. |
|
IC
/ PP No |
: |
473489849 |
|
Nationality |
: |
AMERICAN |
|
Date
of Appointment |
: |
01/06/2012 |
DIRECTOR
6
|
Name
Of Subject |
: |
DATO'
KOK WEE KIAT |
|
Address |
: |
14,
JALAN BALAU, BUKIT DAMANSARA, KUALA LUMPUR, 50490 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC
/ PP No |
: |
0890430 |
|
New
IC No |
: |
401106-05-5171 |
|
Date
of Birth |
: |
06/11/1940 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/01/1996 |
DIRECTOR
7
|
Name
Of Subject |
: |
JAMES
F. MAKKI |
|
Date
of Appointment |
: |
27/05/2015 |
|
1)
|
Name
of Subject |
: |
KOK
WEE KIAT |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor'
Address |
: |
1,
SENTRAL, JALAN TRAVERS, KUALA LUMPUR CENTRAL, P.O.BOX 10192, LEVEL 15, 50706
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MS.
LAM LEE SAN |
|
IC
/ PP No |
: |
A2855638 |
|
|
New
IC No |
: |
740810-14-5740 |
|
|
Address |
: |
WISMA
GOSEHEN, 60, 62 & 64, JALAN SS22/21, DAMANSARA JAYA, 2ND FLOOR, 47400
PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
2)
|
Company
Secretary |
: |
MS.
LEE LAI FONG |
|
IC
/ PP No |
: |
A2544372 |
|
|
New
IC No |
: |
730809-14-5250 |
|
|
Address |
: |
47,
JALAN USJ 11/2B, 47620 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
CITIBANK
BHD |
|
2)
|
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
3 |
26/11/1981 |
N/A |
SEE
DOCUMENT |
MYR
84,800,000.00 |
Satisfied |
|
4 |
26/11/1981 |
N/A |
SEE
DOCUMENT |
MYR
84,800,000.00 |
Satisfied |
|
5 |
04/01/1982 |
N/A |
SEE
DOCUMENT |
- |
Satisfied |
|
6 |
18/05/1983 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
9,500,000.00 |
Satisfied |
|
7 |
18/05/1983 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
9,500,000.00 |
Satisfied |
|
8 |
18/05/1983 |
N/A |
THE
BANK OF NOVA SCOTIABERHAD |
MYR
11,500,000.00 |
Satisfied |
|
9 |
18/05/1983 |
N/A |
THE
BANK OF NOVA SCOTIA BERHAD |
MYR
11,500,000.00 |
Satisfied |
|
10 |
18/05/1983 |
N/A |
CITIBANK
BERHAD |
MYR
24,900,000.00 |
Satisfied |
|
11 |
18/05/1983 |
N/A |
CITIBANK
BERHAD |
MYR
24,900,000.00 |
Satisfied |
|
12 |
18/05/1983 |
N/A |
BANK
BUMIPUTERA MALAYSIA BHD |
MYR
5,000,000.00 |
Satisfied |
|
13 |
18/05/1983 |
N/A |
BANK
BUMIPUTERA MALAYSIA BHD |
MYR
5,000,000.00 |
Satisfied |
|
14 |
18/05/1983 |
N/A |
PERTANIAN
BARING SANWA BHD |
MYR
4,000,000.00 |
Satisfied |
|
15 |
18/05/1983 |
N/A |
PERTANIAN
BARING SANWA BHD |
MYR
4,000,000.00 |
Satisfied |
|
16 |
16/08/1988 |
N/A |
BANK
BUMIPUTRA MALAYSIA BHD |
MYR
6,000,000.00 |
Satisfied |
|
17 |
01/09/1988 |
N/A |
BUMIPUTRA
MERCHANT BANKERS BHD |
MYR
52,832,000.00 |
Satisfied |
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 |
: |
ASIA,EUROPE |
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 |
[ |
X |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
||||
|
Domestic
Markets |
: |
MALAYSIA |
||||
|
Overseas |
: |
YES |
||||
|
Export
Market |
: |
SINGAPORE |
||||
|
Credit
Term |
: |
30
- 60 DAYS |
||||
|
Payment
Mode |
: |
LETTER
OF CREDIT (LC) |
||||
|
Type
of Customer |
: |
LICENCE
MANUFACTURER WAREHOUSE (LMW),FREE TRADE ZONE (FTZ) COMPANIES |
||||
|
CUSTOMER(S) |
: |
|
||||
OPERATIONS
|
|
Products
manufactured |
: |
|
|||||
|
Award |
: |
1
) PRIME MINISTER QUALITY AWARD Year :2008 |
|||||
|
Certification
of Products |
: |
1)
AASHTO M 180-89 |
|||||
|
Competitor(s) |
: |
SHOWA
DENKO HD (MALAYSIA) SDN BHD |
|||||
|
Member(s)
/ Affiliate(s) |
: |
FEDERATION
OF MALAYSIAN MANUFACTURERS (FMM) SMI
ASSOCIATION OF MALAYSIA MALAYSIAN
INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) SMALL
& MEDIUM ENTERPRISE |
|||||
|
Ownership
of premises |
: |
OWNED |
|||||
|
Factory
Size |
: |
12.1
HECTARES |
|||||
|
Production
Capacity |
: |
|
|||||
|
Shifts |
: |
3
(24 HOURS) |
|||||
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
458 |
370 |
||||
|
COMPANY |
350 |
350 |
350 |
350 |
350 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
aluminium sheet and foil products.
The Subject (ALCOM) is widely known as the leader in aluminium rolled products
in Malaysia and South East Asia. It is listed on the Kuala Lumpur Stock
Exchange and a member of Novelis Inc., the world's largest manufacturer of
aluminium rolled products. Products include:
* Foil
* Fin Stock
* Sheet
* Building Sheet
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that:
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-33412311 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
NO.
3, PERSIARAN WAJA, BUKIT RAJA INDUSTRIAL ESTATE,41050,KLANG,SELANGOR. |
|
Current
Address |
: |
3,
PERSIARAN WAJA, BUKIT RAJA INDUSTRIAL ESTATE, 41050 KLANG, SELANGOR,
MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(1.02%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(1.21%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The Subject could be more efficient in controlling its operating
costs and had managed to reduce its losses during the year. 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 |
: |
Acceptable |
[ |
62
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
33
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
24
Days |
] |
|
|
The
Subject kept adequate stocks to meet its normal business transactions without
incurring excessive storage costs. The favourable debtors' days could be due
to the good credit control measures implemented by the Subject. The Subject
had a favourable creditors' ratio where the Subject could be taking advantage
of the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
3.20
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
4.94
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to
assure its creditors of its ability to meet short term obligations and the Subject
was in a good liquidity position. Thus, we believe the Subject is able to
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Nil |
[ |
0.00
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
Subject's interest cover was nil as it did not pay any interest during the
year. 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 : |
||||||
|
The
Subject's turnover showed a volatile trend but its losses were lower when
compared to the previous corresponding period. This could suggest that the Subject
was more efficient in its operating cost control and was more competitive.
The Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. 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 : FAIR |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population
( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross
Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic
Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private
Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption
( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment
( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public
Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption
( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment
( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance
of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government
Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation
( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment
Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net
International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business
Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign
Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration
of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation
of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation
of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration
of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration
of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business
Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business
Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales
of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular
Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist
Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel
Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit
Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad
Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual
Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual
Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES
( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm
Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry
& Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other
Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
%
of Industry Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil
& Gas |
(1.7) |
- |
- |
- |
- |
|
Other
Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
%
of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing
# |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented
Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical
& Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber
Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood
Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles
& Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented
Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food,
Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical
& Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic
Products |
3.8 |
- |
- |
- |
- |
|
Iron
& Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated
Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic
Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport
Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper
& Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude
Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
%
of Industry Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry
Non-Performing Loans ( MYR Million ) |
3,856.9 |
- |
- |
- |
- |
|
%
of Industry Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric,
Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport,
Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale,
Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance,
Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government
Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other
Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
%
of Industry Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
*
Estimate / Preliminary |
|||||
|
**
Forecast |
|||||
|
#
Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC
CODE |
|
|
24202
: Production of aluminium from alumina |
|
|
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) |
|
ALUMINIUM
COMPANY OF MALAYSIA BHD |
|
Financial
Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
259,169,000 |
288,299,000 |
274,585,000 |
296,666,000 |
254,011,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
259,169,000 |
288,299,000 |
274,585,000 |
296,666,000 |
254,011,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(2,297,000) |
(3,914,000) |
2,412,000 |
7,979,000 |
6,785,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(2,297,000) |
(3,914,000) |
2,412,000 |
7,979,000 |
6,785,000 |
|
Taxation |
714,000 |
951,000 |
(725,000) |
(1,829,000) |
(1,096,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(1,583,000) |
(2,963,000) |
1,687,000 |
6,150,000 |
5,689,000 |
|
Pre-acquisition
profit/(loss) |
(223,000) |
34,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
(1,806,000) |
(2,929,000) |
1,687,000 |
6,150,000 |
5,689,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
(1,806,000) |
(2,929,000) |
1,687,000 |
6,150,000 |
5,689,000 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
38,550,000 |
46,439,000 |
51,723,000 |
53,007,000 |
57,237,000 |
|
Prior
year adjustment |
- |
(1,000) |
468,000 |
5,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
38,550,000 |
46,438,000 |
52,191,000 |
53,012,000 |
57,237,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
36,744,000 |
43,509,000 |
53,878,000 |
59,162,000 |
62,926,000 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(4,959,000) |
(7,439,000) |
(7,439,000) |
(9,919,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
36,744,000 |
38,550,000 |
46,439,000 |
51,723,000 |
53,007,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
- |
- |
308,000 |
352,000 |
383,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
308,000 |
352,000 |
383,000 |
|
|
- |
- |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
12,357,000 |
12,697,000 |
11,039,000 |
11,431,000 |
11,673,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
12,357,000 |
12,697,000 |
11,039,000 |
11,431,000 |
11,673,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
ALUMINIUM
COMPANY OF MALAYSIA BHD |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
89,596,000 |
93,791,000 |
99,614,000 |
90,578,000 |
86,477,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
89,596,000 |
93,791,000 |
99,614,000 |
90,578,000 |
86,477,000 |
|
Stocks |
44,225,000 |
46,504,000 |
46,183,000 |
51,629,000 |
52,704,000 |
|
Trade
debtors |
23,490,000 |
35,443,000 |
35,466,000 |
34,373,000 |
35,561,000 |
|
Other
debtors, deposits & prepayments |
911,000 |
583,000 |
679,000 |
986,000 |
5,374,000 |
|
Short
term deposits |
45,117,000 |
30,549,000 |
36,084,000 |
48,485,000 |
41,345,000 |
|
Amount
due from related companies |
171,000 |
87,000 |
252,000 |
252,000 |
- |
|
Cash
& bank balances |
10,584,000 |
5,519,000 |
723,000 |
2,880,000 |
1,223,000 |
|
Others |
821,000 |
1,069,000 |
795,000 |
646,000 |
3,442,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
125,319,000 |
119,754,000 |
120,182,000 |
139,251,000 |
139,649,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
214,915,000 |
213,545,000 |
219,796,000 |
229,829,000 |
226,126,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
16,925,000 |
14,076,000 |
10,569,000 |
11,597,000 |
14,274,000 |
|
Other
creditors & accruals |
7,431,000 |
6,644,000 |
7,294,000 |
10,777,000 |
3,232,000 |
|
Amounts
owing to related companies |
999,000 |
409,000 |
60,000 |
14,000 |
225,000 |
|
Provision
for taxation |
- |
- |
- |
758,000 |
- |
|
Other
liabilities |
- |
- |
211,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
25,355,000 |
21,129,000 |
18,134,000 |
23,146,000 |
17,731,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
99,964,000 |
98,625,000 |
102,048,000 |
116,105,000 |
121,918,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
189,560,000 |
192,416,000 |
201,662,000 |
206,683,000 |
208,395,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
|
RESERVES |
|||||
|
Share
premium |
4,113,000 |
4,113,000 |
4,112,000 |
4,112,000 |
4,112,000 |
|
Revaluation
reserve |
- |
- |
- |
2,138,000 |
2,138,000 |
|
Retained
profit/(loss) carried forward |
36,744,000 |
38,550,000 |
46,439,000 |
51,723,000 |
53,007,000 |
|
Capital
redemption reserve |
- |
- |
4,000,000 |
- |
- |
|
Others |
1,670,000 |
1,670,000 |
(2,330,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
42,527,000 |
44,333,000 |
52,221,000 |
57,973,000 |
59,257,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
176,858,000 |
178,664,000 |
186,552,000 |
192,304,000 |
193,588,000 |
|
Deferred
taxation |
6,369,000 |
7,714,000 |
8,764,000 |
8,672,000 |
9,675,000 |
|
Retirement
benefits provision |
6,333,000 |
6,038,000 |
6,346,000 |
5,707,000 |
5,132,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
12,702,000 |
13,752,000 |
15,110,000 |
14,379,000 |
14,807,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
189,560,000 |
192,416,000 |
201,662,000 |
206,683,000 |
208,395,000 |
|
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
ALUMINIUM
COMPANY OF MALAYSIA BHD |
|
TYPES
OF FUNDS |
|||||
|
Cash |
55,701,000 |
36,068,000 |
36,807,000 |
51,365,000 |
42,568,000 |
|
Net
Liquid Funds |
55,701,000 |
36,068,000 |
36,807,000 |
51,365,000 |
42,568,000 |
|
Net
Liquid Assets |
55,739,000 |
52,121,000 |
55,865,000 |
64,476,000 |
69,214,000 |
|
Net
Current Assets/(Liabilities) |
99,964,000 |
98,625,000 |
102,048,000 |
116,105,000 |
121,918,000 |
|
Net
Tangible Assets |
189,560,000 |
192,416,000 |
201,662,000 |
206,683,000 |
208,395,000 |
|
Net
Monetary Assets |
43,037,000 |
38,369,000 |
40,755,000 |
50,097,000 |
54,407,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
38,057,000 |
34,881,000 |
33,244,000 |
37,525,000 |
32,538,000 |
|
Total
Assets |
214,915,000 |
213,545,000 |
219,796,000 |
229,829,000 |
226,126,000 |
|
Net
Assets |
189,560,000 |
192,416,000 |
201,662,000 |
206,683,000 |
208,395,000 |
|
Net
Assets Backing |
176,858,000 |
178,664,000 |
186,552,000 |
192,304,000 |
193,588,000 |
|
Shareholders'
Funds |
176,858,000 |
178,664,000 |
186,552,000 |
192,304,000 |
193,588,000 |
|
Total
Share Capital |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
134,331,000 |
|
Total
Reserves |
42,527,000 |
44,333,000 |
52,221,000 |
57,973,000 |
59,257,000 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
2.20 |
1.71 |
2.03 |
2.22 |
2.40 |
|
Liquid
Ratio |
3.20 |
3.47 |
4.08 |
3.79 |
4.90 |
|
Current
Ratio |
4.94 |
5.67 |
6.63 |
6.02 |
7.88 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
62 |
59 |
61 |
64 |
76 |
|
Debtors
Ratio |
33 |
45 |
47 |
42 |
51 |
|
Creditors
Ratio |
24 |
18 |
14 |
14 |
21 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities
Ratio |
0.22 |
0.20 |
0.18 |
0.20 |
0.17 |
|
Times
Interest Earned Ratio |
0.00 |
0.00 |
8.83 |
23.67 |
18.72 |
|
Assets
Backing Ratio |
1.41 |
1.43 |
1.50 |
1.54 |
1.55 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(0.89) |
(1.36) |
0.88 |
2.69 |
2.67 |
|
Net
Profit Margin |
(0.70) |
(1.02) |
0.61 |
2.07 |
2.24 |
|
Return
On Net Assets |
(1.21) |
(2.03) |
1.35 |
4.03 |
3.44 |
|
Return
On Capital Employed |
(1.21) |
(2.03) |
1.35 |
4.03 |
3.44 |
|
Return
On Shareholders' Funds/Equity |
(1.02) |
(1.64) |
0.90 |
3.20 |
2.94 |
|
Dividend
Pay Out Ratio (Times) |
0.00 |
1.69 |
4.41 |
1.21 |
1.74 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.