|
Report No. : |
328058 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASF PETRONAS CHEMICALS SDN. BHD. |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, Level 18,
59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
451307-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Manufacturing of Chemical and Other Related Products |
|
|
|
|
No. of Employee : |
600 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC
OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has previously profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. Falling global oil prices in the second half of 2014 have strained government finances, shrunk Malaysia’s current account surplus and put downward pressure on the ringgit. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplied about 29% of government revenue in 2014. Bank Negara Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB earlier raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays. Malaysia is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
451307-K |
|
COMPANY NAME |
: |
BASF PETRONAS CHEMICALS SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
28/10/1997 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY, LINGKARAN SYED PUTRA, LEVEL
18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
2, JALAN ASTAKA U8/87, BUKIT JELUTONG SEKSYEN U8, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-78412200 |
|
FAX.NO. |
: |
03-78466624 |
|
EMAIL |
: |
INFO.SERVICE@BASF-PETRONAS.COM.MY |
|
WEB SITE |
: |
WWW.BASF-PETRONAS.COM.MY |
|
CONTACT PERSON |
: |
SAZALI BIN HAMZAH ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
20119 |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF CHEMICAL AND OTHER RELATED PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 2,400,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,019,420,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 2,749,783,000 [2013] |
|
NET WORTH |
: |
MYR 1,214,765,000 [2013] |
|
M1000 OVERALL RANKING |
: |
199[2011] |
|
M1000 INDUSTRY RANKING |
: |
8[2011] |
|
BANKER (S) |
MALAYAN BANKING BHD |
|
|
STAFF STRENGTH |
: |
600 [2015] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
GOOD |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, sue
or be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act, 1965 and the company must file its annual
returns, together with its financial statements with the Registrar of
Companies.
The Subject is principally engaged in the (as a / as an) manufacturing
of chemical and other related products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the Subject's ranking are
as follows: |
|
|||||
|
||||||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
199 |
114 |
109 |
179 |
278 |
|
|
INDUSTRY RANKING |
8 |
3 |
4 |
3 |
6 |
|
The immediate holding company of the Subject is BASF NEDERLAND B.V., a company
incorporated in NETHERLANDS.
The ultimate holding company of the Subject is BASF SE, a company
incorporated in GERMANY.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/01/2015 |
MYR 2,400,000,000.00 |
MYR 1,019,420,000.00 |
|
30/05/2013 |
MYR 2,400,000,000.00 |
MYR 1,000,000,000.00 |
|
06/12/1999 |
MYR 2,400,000,000.00 |
MYR 709,180,000.00 |
|
30/11/1999 |
MYR 2,400,000,000.00 |
MYR 700,000,000.00 |
|
14/07/1998 |
MYR 2,400,000,000.00 |
MYR 72,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BASF NEDERLAND B.V. |
GRONINGENSINGEL 1, 6835 EA ARNHEM, THE NETHERLANDS, NETHERLANDS. |
XLZ00215709 |
611,652.00 |
60.00 |
|
PETRONAS CHEMICALS GROUP BERHAD |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR CITY CENTRE, 50088 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
407,768.00 |
40.00 |
|
--------------- |
------ |
|||
|
1,019,420.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
DR TORSTEN PENKUHN |
|
Address |
: |
34, DAKOTA CRESCENT, 19-01 DAKOTA, RESIDENCE, 399936, SINGAPORE. |
|
IC / PP No |
: |
C4KH5HP60 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/01/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SAZALI BIN HAMZAH |
|
Address |
: |
80, 9/4 JALAN SERI PUTRA, BANDAR SERI PUTRA, BANGI, 43000 KAJANG,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A0396634 |
|
New IC No |
: |
660501-01-5491 |
|
Date of Birth |
: |
01/05/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/05/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
PROFESSOR DR. RAINER DIERCKS |
|
Address |
: |
PHILIPP-MELANCHTHON-STRABE 21, SPEYER, 67346, GERMANY. |
|
IC / PP No |
: |
225206719 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
24/02/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
GOPALAN PILLAY |
|
Address |
: |
FLAT A, 33/F, TOWER 2, 23 OLD PEAK ROAD, DYNASTY COURT, MID LEVELS,
HONG KONG, HONG KONG. |
|
IC / PP No |
: |
M00042411 |
|
Nationality |
: |
SOUTH AFRICAN |
|
Date of Appointment |
: |
07/05/2013 |
DIRECTOR 5
|
Name Of Subject |
: |
DR.STEFAN FRANZ BECKMANN |
|
Address |
: |
UNIT A-9-1, ONE MENERUNG, 1, JALAN MENERUNG, BANGSAR, 59100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
C8X06VM3C |
|
Date of Appointment |
: |
01/03/2014 |
DIRECTOR 6
|
Name Of Subject |
: |
MR. WAN ZULKIFLEE BIN WAN ARIFFIN |
|
Address |
: |
69, WESTERN GARDEN, 10450 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
5995503 |
|
New IC No |
: |
600819-07-5545 |
|
Date of Birth |
: |
19/08/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/08/2010 |
|
1) |
Name of Subject |
: |
SAZALI BIN HAMZAH |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
NORASHIKIN MOKHTAR |
|
Position |
: |
SENIOR FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
SURAYA |
|
Position |
: |
ASSISTANT HUMAN RESOURCES DIRECTOR |
|
|
4) |
Name of Subject |
: |
JASON CHOI KAM HENG |
|
Position |
: |
MAINTENANCE MANAGER |
|
Auditor |
: |
KPMG DESA MEGAT & CO. |
|
Auditor' Address |
: |
KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, 47800 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. IZAM ISKANDAR BIN ISMAIL |
|
IC / PP No |
: |
A2141565 |
|
|
New IC No |
: |
720409-13-5839 |
|
|
Address |
: |
117, JALAN 2, AMPANG JAYA, 68000 AMPANG, SELANGOR, MALAYSIA. |
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
No encumbrance was found in our databank at the time of investigation.
* 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.
* 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.
|
SOURCES OF RAW
MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
80% |
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
Import Countries |
: |
UNITED STATES |
|||
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DEALERS,CHEMICAL INDUSTRY,DISTRIBUTORS |
|||
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN PLASTICS MANUFACTURERS ASSOCIATION (MPMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
600 |
600 |
600 |
610 |
900 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of chemical
and other related products.
The Subject is partners with BASF ASIA PACIFIC in Germany.
The Subject is a well-known name in the chemical industry and it produces and
markets a wide range of essential chemical products.
The Subject owns a world-class integrated Chemical site in Gebeng, Pahang. It
has an annual production output of approximately 1 million metric tonnes, which
makes the site one of the largest integrated chemical sites in the Asia-Pacific
region.
This 'verbund' (integrated) chemical production facility sited in Gebeng,
Kuantan, Pahang Darul Makmur is the first such facility for BASF in the Asia
Pacific, manufacturing acrylic, oxo-products and butanediol.
The Subject's plants can be categorised into:
1) Plant 1 - Acrylic O Complex
2) Plant 2 - OXO Complex
3) Plant 3 - BDO Complex
The Subject processes and refines petrochemical products and the end products
are raw materials and ingredients for general purposes.
The Subject's product is Petrochemicals which is ethylene and propylene ( for
plastic products),oxygenated, halogen-free are essential to the production of
many pharmaceutical, paints and cosmetic products.
The end-products are among others plastics, adhesives, paints, lacquers, paper,
diapers, automobile and industrial coatings, pharmaceuticals, fine chemicals,
textiles, leather and personal care materials.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality products.
The Subject provides consistent high quality products to their customers. The
Subject also strive to provide them with optimum solutions, be it in the area
of planning, processing or distribution.
The Subject's close relationships with our internal partners, suppliers and
service providers, enable them to coordinate activities and provide integrated
logistic solutions tailor made to the customer’s needs.
The Subject deploy the following facilities to cater to the needs of their
customers:
1. Marine command centre, providing safety vetting of all vessels.
2. Asia Pacific regional planner for bulk shipments.
3. Procurement of logistics solutions.
4. Providing customer service from enquiry stage until order completion.
5. Marine Insurance support and claims handling
6. Booking vessels according to customer requests.
7. Integration of customer supply chains.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78412200 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
2, JALAN ASTAKA U8/87, BUKIT JELUTONG SEKSYEN U8, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
Current Address |
: |
2, JALAN ASTAKA U8/87, BUKIT JELUTONG SEKSYEN U8, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 9th April 2015, we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
26.41% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
37.16% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The Subject's profit fell sharply because
of the high operating costs incurred. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
31 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
4 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 |
[ |
2.74 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.61 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 |
[ |
121.42 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject had no gearing and
hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's performance deteriorated over the years with lower 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 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 : STRONG |
||||||
|
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 |
|||||
|
MSIC CODE |
|
|
20119 : Manufacture of other basic chemicals n.e.c. |
|
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
BASF PETRONAS CHEMICALS 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 |
2,749,783,000 |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,749,783,000 |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
1,947,889,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
449,513,000 |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
449,513,000 |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
237,782,000 |
|
Taxation |
(128,724,000) |
(176,085,000) |
(196,161,000) |
24,239,000 |
(2,621,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
320,789,000 |
627,977,000 |
1,000,811,000 |
1,318,640,000 |
235,161,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
114,250,000 |
|
Prior year adjustment |
- |
- |
- |
- |
22,465,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
136,715,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
716,093,000 |
1,045,304,000 |
1,667,327,000 |
1,680,516,000 |
371,876,000 |
|
TRANSFER TO RESERVES - Statutory |
- |
- |
- |
- |
(10,000,000) |
|
TRANSFER TO RESERVES - General |
- |
- |
- |
(4,000,000) |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
(315,000,000) |
(650,000,000) |
(1,250,000,000) |
(1,010,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Lease interest |
3,732,000 |
3,380,000 |
2,947,000 |
- |
- |
|
Others |
1,000 |
3,000 |
5,000 |
5,000 |
4,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,733,000 |
3,383,000 |
2,952,000 |
5,000 |
4,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
133,987,000 |
129,638,000 |
142,507,000 |
227,738,000 |
266,647,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
133,987,000 |
129,638,000 |
142,507,000 |
227,738,000 |
266,647,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
BASF PETRONAS CHEMICALS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
520,276,000 |
442,923,000 |
533,463,000 |
485,844,000 |
730,936,000 |
|
Deferred assets |
8,500,000 |
20,258,000 |
32,612,000 |
26,254,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
8,500,000 |
20,258,000 |
32,612,000 |
26,254,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
528,776,000 |
463,181,000 |
566,075,000 |
512,098,000 |
730,936,000 |
|
Stocks |
231,374,000 |
211,972,000 |
180,323,000 |
166,595,000 |
132,345,000 |
|
Trade debtors |
237,739,000 |
262,533,000 |
495,733,000 |
319,348,000 |
177,847,000 |
|
Other debtors, deposits & prepayments |
9,450,000 |
4,906,000 |
7,121,000 |
10,672,000 |
11,745,000 |
|
Short term deposits |
193,736,000 |
114,631,000 |
215,640,000 |
255,643,000 |
365,103,000 |
|
Amount due from related companies |
278,526,000 |
289,909,000 |
2,971,000 |
397,421,000 |
216,504,000 |
|
Cash & bank balances |
3,424,000 |
13,019,000 |
725,000 |
13,425,000 |
5,023,000 |
|
Others |
914,000 |
274,000 |
- |
13,000 |
8,264,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
955,163,000 |
897,244,000 |
902,513,000 |
1,163,117,000 |
916,831,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,483,939,000 |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
27,177,000 |
11,945,000 |
114,936,000 |
23,415,000 |
7,144,000 |
|
Other creditors & accruals |
77,364,000 |
77,085,000 |
63,740,000 |
83,173,000 |
57,447,000 |
|
Hire purchase & lease creditors |
- |
- |
8,160,000 |
- |
- |
|
Amounts owing to holding company |
15,295,000 |
6,483,000 |
2,488,000 |
3,794,000 |
- |
|
Amounts owing to related companies |
129,167,000 |
96,155,000 |
5,511,000 |
4,122,000 |
8,558,000 |
|
Provision for taxation |
8,553,000 |
3,961,000 |
24,105,000 |
1,497,000 |
1,672,000 |
|
Lease payables |
6,777,000 |
7,138,000 |
- |
- |
- |
|
Other liabilities |
- |
6,682,000 |
21,310,000 |
153,949,000 |
117,587,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
264,333,000 |
209,449,000 |
240,250,000 |
269,950,000 |
192,408,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
690,830,000 |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
|
RESERVES |
|||||
|
Share premium |
- |
- |
- |
- |
196,000,000 |
|
Exchange equalisation/fluctuation reserve |
(200,328,000) |
(269,920,000) |
(221,114,000) |
(275,251,000) |
(116,517,000) |
|
Retained profit/(loss) carried forward |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
|
Capital redemption reserve |
14,000,000 |
14,000,000 |
14,000,000 |
14,000,000 |
10,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
214,765,000 |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
|
Lease obligations |
4,841,000 |
11,592,000 |
18,125,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
4,841,000 |
11,592,000 |
18,125,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
BASF PETRONAS CHEMICALS SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
197,160,000 |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
|
Net Liquid Funds |
197,160,000 |
127,650,000 |
216,365,000 |
269,068,000 |
370,126,000 |
|
Net Liquid Assets |
459,456,000 |
475,823,000 |
481,940,000 |
726,572,000 |
592,078,000 |
|
Net Current Assets/(Liabilities) |
690,830,000 |
687,795,000 |
662,263,000 |
893,167,000 |
724,423,000 |
|
Net Tangible Assets |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
|
Net Monetary Assets |
454,615,000 |
464,231,000 |
463,815,000 |
726,572,000 |
592,078,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
453,246,000 |
807,445,000 |
1,199,924,000 |
1,294,406,000 |
237,786,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
587,233,000 |
937,083,000 |
1,342,431,000 |
1,522,144,000 |
504,433,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
4,841,000 |
11,592,000 |
26,285,000 |
0 |
0 |
|
Total Liabilities |
269,174,000 |
221,041,000 |
258,375,000 |
269,950,000 |
192,408,000 |
|
Total Assets |
1,483,939,000 |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
1,647,767,000 |
|
Net Assets |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
1,455,359,000 |
|
Net Assets Backing |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
|
Shareholders' Funds |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
1,455,359,000 |
|
Total Share Capital |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,004,000,000 |
|
Total Reserves |
214,765,000 |
139,384,000 |
210,213,000 |
405,265,000 |
451,359,000 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.75 |
0.61 |
0.90 |
1.00 |
1.92 |
|
Liquid Ratio |
2.74 |
3.27 |
3.01 |
3.69 |
4.08 |
|
Current Ratio |
3.61 |
4.28 |
3.76 |
4.31 |
4.77 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
31 |
25 |
19 |
18 |
25 |
|
Debtors Ratio |
32 |
31 |
52 |
34 |
33 |
|
Creditors Ratio |
4 |
1 |
12 |
2 |
1 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.00 |
0.01 |
0.02 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.22 |
0.19 |
0.21 |
0.19 |
0.13 |
|
Times Interest Earned Ratio |
121.42 |
238.68 |
406.48 |
258,881.20 |
59,446.50 |
|
Assets Backing Ratio |
1.22 |
1.15 |
1.23 |
1.41 |
1.45 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
16.35 |
25.98 |
34.66 |
37.76 |
12.21 |
|
Net Profit Margin |
11.67 |
20.29 |
28.98 |
38.47 |
12.07 |
|
Return On Net Assets |
37.16 |
70.15 |
97.69 |
92.11 |
16.34 |
|
Return On Capital Employed |
37.16 |
70.15 |
97.04 |
92.11 |
16.34 |
|
Return On Shareholders' Funds/Equity |
26.41 |
55.12 |
82.70 |
93.84 |
16.16 |
|
Dividend Pay Out Ratio (Times) |
0.98 |
1.04 |
1.25 |
0.77 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.