|
Report No. : |
325446 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASIA GLOBAL EXIM SDN. BHD. |
|
|
|
|
Registered Office : |
7711, Jalan Teluk Batu 1, Batu 4, Off Jalan Kebun, Seksyen
36, 1st Floor, 40460 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
24.04.2007 |
|
|
|
|
Com. Reg. No.: |
770800-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of stainless steel pipes, plates, coils &
hardware |
|
|
|
|
No of Employees : |
15 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA ECONOMIC OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has 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 |
EXECUTIVE
SUMMARY
|
|
|
|
REGISTRATION NO. |
: |
770800-M |
||||
|
COMPANY NAME |
: |
ASIA GLOBAL EXIM
SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
24/04/2007 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
7711, JALAN TELUK BATU 1, BATU 4, OFF JALAN
KEBUN, SEKSYEN 36, 1ST FLOOR, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 1238/1, BATU 7 1/2, JALAN BUKIT
KEMUNING, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51219470 |
||||
|
FAX.NO. |
: |
03-51219480 |
||||
|
CONTACT PERSON |
: |
VIJAY GHEWARCHANG JAIN ( EXECUTIVE
DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46621 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF STAINLESS STEEL PIPES, PLATES,
COILS & HARDWARE |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 33,380,289 [2013] |
||||
|
NET WORTH |
: |
MYR 2,607,822 [2013] |
||||
|
STAFF STRENGTH |
: |
15 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading of stainless steel pipes, plates, coils & hardware.
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 5,000,000.00 |
MYR 2,000,000.00 |
|
20/08/2007 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
24/04/2007 |
MYR 1,000,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
VIJAY GHEWARCHAND JAIN + |
LOT 1238/1, JALAN BUKIT KEMUNING, BATU 7
1/2, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
Z2209440 |
1,799,998.00 |
90.00 |
|
REKHA VIJAY JAIN + |
LOT 1238/1, JALAN BKUIT KEMUNING, BATU 7
1/2, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
H2764316 |
200,002.00 |
10.00 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
REKHA VIJAY JAIN |
|
Address |
: |
LOT 1238/1, JALAN BKUIT KEMUNING, BATU 7
1/2, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
H2764316 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
30/11/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
VIJAY GHEWARCHAND JAIN |
|
Address |
: |
LOT 1238/1, JALAN BUKIT KEMUNING, BATU 7
1/2, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
Z2209440 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
24/04/2007 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
VIJAY GHEWARCHANG JAIN |
|
Position |
: |
EXECUTIVE DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
WSJ & CO |
|
Auditor' Address |
: |
6-7-3, BLOCK 6, QUEEN'S AVENUE, JALAN BAYAM, OFF JALAN PEEL, LEVEL 7, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. VASANTHI A/P VITHALINGAM |
|
IC / PP No |
: |
5680372 |
|
|
New IC No |
: |
590516-10-6248 |
|
|
Address |
: |
5, SS5C/1, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Charge Name |
Total Charge |
Status |
|
1 |
06/11/2013 |
2RD PARTY CHARGE |
AIA BHD |
- |
Unsatisfied |
|
2 |
19/09/2014 |
GENERAL
AGREEMENT |
HSBC BANK MALAYSIA BHD |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of the
wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection
case was found in our defaulters' databank.
PAYMENT
RECORD
|
|
|||
|
SOURCES OF RAW MATERIALS: |
|||
|
Local |
: |
YES |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
ASIA |
|
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
|
Type of Customer |
: |
END USERS,DISTRIBUTORS |
|||
OPERATIONS
|
|
Goods Traded |
: |
FERROUS AND NON FERROUS METAL, STEEL AND
OTHERS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2013 |
2012 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
15 |
10 |
10 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of stainless
steel pipes, plates, coils & hardware.
The Subject also specialises in Stainless Steel / Secondary & Scrap, Moly Scrap,
Nickel Scrap, Ti Scrap, Cobalt Scrap and others.
The Subject is also able to import from overseas companies for the local
customers.
The Subject's products are used for construction, furniture making, engineering
as well as for others.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-51219470 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 1238/1, BATU 7 1/2, JALAN BUKIT
KEMUNING,42450,KLANG,SELANGOR. |
|
Current Address |
: |
LOT 1238/1, BATU 7 1/2, JALAN BUKIT
KEMUNING, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
6.15% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
5.21% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years. 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 |
[ |
14 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
22 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. 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 |
[ |
1.01 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.53 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 |
: |
Favourable |
[ |
17.32 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.54 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 was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. 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. With
the favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : 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 |
|
|
46621 : Wholesale of ferrous and
non-ferrous metal ores and metals |
|
|
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) |
|
ASIA GLOBAL EXIM
SDN. BHD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
33,380,289 |
30,183,127 |
30,010,000 |
25,997,126 |
20,498,394 |
|
Other Income |
141 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
33,380,430 |
30,183,127 |
30,010,000 |
25,997,126 |
20,498,394 |
|
Costs of Goods Sold |
(32,353,830) |
(29,296,474) |
(29,309,352) |
(25,417,235) |
(20,031,960) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,026,600 |
886,653 |
700,648 |
579,891 |
466,434 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
195,175 |
166,656 |
191,909 |
64,437 |
70,709 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
195,175 |
166,656 |
191,909 |
64,437 |
70,709 |
|
Taxation |
(34,779) |
(62,571) |
(34,328) |
(20,786) |
(4,412) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
160,396 |
104,085 |
157,581 |
43,651 |
66,297 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
447,426 |
343,341 |
185,760 |
142,109 |
75,812 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
447,426 |
343,341 |
185,760 |
142,109 |
75,812 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
607,822 |
447,426 |
343,341 |
185,760 |
142,109 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
607,822 |
447,426 |
343,341 |
185,760 |
142,109 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Hire purchase |
2,250 |
3,098 |
- |
- |
- |
|
Others |
9,709 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
11,959 |
3,098 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
62,629 |
49,137 |
24,479 |
26,109 |
24,613 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
62,629 |
49,137 |
24,479 |
26,109 |
24,613 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
|
|
ASIA GLOBAL EXIM
SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
2,700,579 |
689,949 |
98,503 |
118,853 |
133,732 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,700,579 |
689,949 |
98,503 |
118,853 |
133,732 |
|
Stocks |
1,256,577 |
871,538 |
1,021,943 |
1,316,416 |
1,411,101 |
|
Trade debtors |
2,015,532 |
3,070,179 |
3,050,630 |
2,445,478 |
1,611,853 |
|
Other debtors, deposits & prepayments |
72,950 |
135,743 |
613,541 |
176,825 |
414,291 |
|
Cash & bank balances |
324,180 |
462,569 |
250,685 |
137,563 |
33,634 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
3,669,239 |
4,540,029 |
4,936,799 |
4,076,282 |
3,470,879 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,369,818 |
5,229,978 |
5,035,302 |
4,195,135 |
3,604,611 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
1,708,884 |
2,735,214 |
3,299,753 |
2,402,675 |
1,783,813 |
|
Other creditors & accruals |
142,944 |
791,211 |
28,358 |
28,006 |
16,933 |
|
Hire purchase & lease creditors |
54,880 |
79,594 |
- |
- |
- |
|
Amounts owing to director |
475,142 |
125,663 |
339,157 |
561,660 |
650,484 |
|
Provision for taxation |
9,479 |
40,658 |
11,757 |
4,006 |
4,024 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,391,329 |
3,772,340 |
3,679,025 |
2,996,347 |
2,455,254 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,277,910 |
767,689 |
1,257,774 |
1,079,935 |
1,015,625 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,978,489 |
1,457,638 |
1,356,277 |
1,198,788 |
1,149,357 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
2,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Retained profit/(loss) carried forward |
607,822 |
447,426 |
343,341 |
185,760 |
142,109 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
607,822 |
447,426 |
343,341 |
185,760 |
142,109 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,607,822 |
1,447,426 |
1,343,341 |
1,185,760 |
1,142,109 |
|
Long term loans |
1,360,455 |
- |
- |
- |
- |
|
Deferred taxation |
10,212 |
10,212 |
12,936 |
13,028 |
7,248 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,370,667 |
10,212 |
12,936 |
13,028 |
7,248 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,978,489 |
1,457,638 |
1,356,277 |
1,198,788 |
1,149,357 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
ASIA GLOBAL EXIM
SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
324,180 |
462,569 |
250,685 |
137,563 |
33,634 |
|
Net Liquid Funds |
324,180 |
462,569 |
250,685 |
137,563 |
33,634 |
|
Net Liquid Assets |
21,333 |
(103,849) |
235,831 |
(236,481) |
(395,476) |
|
Net Current Assets/(Liabilities) |
1,277,910 |
767,689 |
1,257,774 |
1,079,935 |
1,015,625 |
|
Net Tangible Assets |
3,978,489 |
1,457,638 |
1,356,277 |
1,198,788 |
1,149,357 |
|
Net Monetary Assets |
(1,349,334) |
(114,061) |
222,895 |
(249,509) |
(402,724) |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
1,415,335 |
79,594 |
0 |
0 |
0 |
|
Total Liabilities |
3,761,996 |
3,782,552 |
3,691,961 |
3,009,375 |
2,462,502 |
|
Total Assets |
6,369,818 |
5,229,978 |
5,035,302 |
4,195,135 |
3,604,611 |
|
Net Assets |
3,978,489 |
1,457,638 |
1,356,277 |
1,198,788 |
1,149,357 |
|
Net Assets Backing |
2,607,822 |
1,447,426 |
1,343,341 |
1,185,760 |
1,142,109 |
|
Shareholders' Funds |
2,607,822 |
1,447,426 |
1,343,341 |
1,185,760 |
1,142,109 |
|
Total Share Capital |
2,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
607,822 |
447,426 |
343,341 |
185,760 |
142,109 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.14 |
0.12 |
0.07 |
0.05 |
0.01 |
|
Liquid Ratio |
1.01 |
0.97 |
1.06 |
0.92 |
0.84 |
|
Current Ratio |
1.53 |
1.20 |
1.34 |
1.36 |
1.41 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
14 |
11 |
12 |
18 |
25 |
|
Debtors Ratio |
22 |
37 |
37 |
34 |
29 |
|
Creditors Ratio |
19 |
34 |
41 |
35 |
33 |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.54 |
0.05 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
1.44 |
2.61 |
2.75 |
2.54 |
2.16 |
|
Times Interest Earned Ratio |
17.32 |
54.79 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
1.99 |
1.46 |
1.36 |
1.20 |
1.15 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
0.58 |
0.55 |
0.64 |
0.25 |
0.34 |
|
Net Profit Margin |
0.48 |
0.34 |
0.53 |
0.17 |
0.32 |
|
Return On Net Assets |
5.21 |
11.65 |
14.15 |
5.38 |
6.15 |
|
Return On Capital Employed |
5.14 |
11.04 |
14.15 |
5.38 |
6.15 |
|
Return On Shareholders' Funds/Equity |
6.15 |
7.19 |
11.73 |
3.68 |
5.80 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.89 |
|
|
1 |
Rs. 97.97 |
|
Euro |
1 |
Rs. 71.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.