|
Report No. : |
327707 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
FERNTEA (MALAYSIA) SDN. BHD. |
|
|
|
|
Registered Office : |
568-8-44, Kompleks Mutiara, 3 1/2 Mile Jalan Ipoh, 51200 Kuala Lumpur,
Wilayah Persekutuan |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.05.2010 |
|
|
|
|
Date of Incorporation : |
08.05.1992 |
|
|
|
|
Com. Reg. No.: |
239792-H |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Subject is distributor of chocolates, beverages and general provisions |
|
|
|
|
No. of Employee : |
20 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
|
REGISTRATION NO. |
: |
239792-H |
||||
|
COMPANY NAME |
: |
FERNTEA (MALAYSIA) SDN. BHD. |
||||
|
FORMER NAME |
: |
FERNTEA FAR EAST (M) SDN BHD (28/09/1995) |
||||
|
INCORPORATION DATE |
: |
08/05/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
568-8-44, KOMPLEKS MUTIARA, 3 1/2 MILE
JALAN IPOH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
34, JALAN 34/4, ALPINE INDUSTRIAL PARK,
BATU 5, OFF JALAN BUKIT KEMUNING, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51618677/51618687 |
||||
|
FAX.NO. |
: |
03-51618697 |
||||
|
WEB SITE |
: |
WWW.ARNSBERRY.COM |
||||
|
CONTACT PERSON |
: |
RAMAMOORTHY A/L RAMASAMY ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
DISTRIBUTOR OF CHOCOLATES, BEVERAGES AND
GENERAL PROVISIONS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 700,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
20 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
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) distributor of chocolates, beverages and general provisions.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 1,000,000.00 |
MYR 700,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. RAMAMOORTHY A/L RAMASAMY + |
24, JALAN ALAM 25/68, TAMAN SRI MUDA,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
610111-08-6483 6293860 |
525,000.00 |
75.00 |
|
MS. SAROJINI A/P APALASAMY + |
24, JALAN AMAL 25/68, TAMAN SRI MUDA,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
611104-08-6172 6322738 |
175,000.00 |
25.00 |
|
--------------- |
------ |
|||
|
700,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. SAROJINI A/P APALASAMY |
|
Address |
: |
24, JALAN AMAL 25/68, TAMAN SRI MUDA,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6322738 |
|
New IC No |
: |
611104-08-6172 |
|
Date of Birth |
: |
04/11/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/11/1995 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. RAMAMOORTHY A/L RAMASAMY |
|
Address |
: |
24, JALAN ALAM 25/68, TAMAN SRI MUDA,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6293860 |
|
New IC No |
: |
610111-08-6483 |
|
Date of Birth |
: |
11/01/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/05/1992 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
RAMAMOORTHY A/L RAMASAMY |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
KC AW & CO. |
|
Auditor' Address |
: |
20-1, PUSAT PERDAGANGAN ONE PUCHONG, JALAN
OP 1/6,OFF JALAN PUCHONG, 47160 PUCHONG, SELANGOR, MALAYSIA. |
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. LIM LEK LEN |
|
IC / PP No |
: |
A0053576 |
|
|
New IC No |
: |
650316-05-5433 |
|
|
Address |
: |
BLOK 10, B4-4 PHASE 9, HILLSIDE APARTMENT,
TAMAN MELAWATI, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
16/06/1997 |
N/A |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 500,000.00 |
Unsatisfied |
|
2 |
19/09/1997 |
N/A |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 510,000.00 |
Unsatisfied |
|
3 |
20/01/2000 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
4 |
30/07/2003 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 900,000.00 |
Satisfied |
|
5 |
04/12/2003 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 675,000.00 |
Satisfied |
|
6 |
27/05/2005 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 1,900,000.00 |
Satisfied |
|
7 |
14/04/2011 |
N/A |
CIMB BANK BERHAD |
- |
Satisfied |
|
8 |
04/10/2011 |
N/A |
AMBANK (M) BHD |
- |
Satisfied |
|
9 |
07/11/2012 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
10 |
07/11/2012 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
11 |
07/11/2012 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
|
12 |
07/11/2012 |
N/A |
MALAYAN BANKING BHD |
- |
Unsatisfied |
LITIGATION CHECK AGAINST
SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CHOCOLATES, BEVERAGES AND GENERAL
PROVISIONS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2011 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
20 |
15 |
15 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) distributor of
chocolates, beverages and general provisions.
The Subject is dealing in chocolate products, edible oil, noodles,;lolly pops;
candy snack, tea and others.
The chocolates are distributed under two main brands namely Barnsberry (Cocoa
Butter Substitute) and Kingsley ( Cocoa Butter Chocolates).
The chocolates come in a wide range such as Chunky, Éclair, Neapolitan,
Roundies and Chocolate Bars to name a few, and are available in different size
and shapes.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-51618677/51618687 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
34, JALAN 34/4, ALPINE INDUSTRIAL PARK, BATU
5, OFF JALAN BUKIT KEMUNING,42450,KLANG,SELANGOR. |
|
Current Address |
: |
34, JALAN 34/4, ALPINE INDUSTRIAL PARK,
BATU 5, OFF JALAN BUKIT KEMUNING, 42450 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL ANALYSIS
|
|
No latest financial accounts are available
at the Registry Office, thus we are not able to comment on the Subject's financial
performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
|
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government Finance to GDP / Fiscal Deficit
( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans (
% ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR
Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
46329 : Wholesale of other foodstuffs |
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade is expected
to increase 7.1% in 2015 (2014: 7.7%) driven by strong domestic consumption and
higher tourist arrivals following the Malaysia Year of Festivals 2015.
Besides, in 2014, the wholesale and retail trade subsector is expected to
increase 7.7% (2013: 6.4%) supported by strong domestic consumption. |
|
|
According to Retail Group Malaysia (RGM),
the pharmacy and personal care sub-sector had slow growth rate of 2.6% for
the first quarter of 2014, while "other specialty stores" grew at a
rate of 3.5%. During the first quarter of 2014, fashion and fashion accessories
recorded a sustainable growth of 6.3% as compared with the same period last
year (3.6%). |
|
|
The retail segment increased 10.1%
(January - June 2013: 7.1%) attributed to brisk sales in retail outlets such
as hypermarkets and large-scale superstores. Since the launch of the Small
Retailer Transformation programme (TUKAR) in January 2011 up to end-July
2014, 1,761 small retailer stores (end-July 2013: 1,381) have been modernized
to improve their competitiveness. In addition, the strong growth of the
retail segment was supported by 1Malaysia Unified Sales held from 29 June
2014 to 1 September 2014 to attract foreign and local tourists to shop in
Malaysia. Meanwhile, the wholesale segment expanded 8.2% (January - June
2013: 4.9%) due to higher sales of non-agricultural intermediate products,
such as petrol, diesel, lubricants and household goods. Furthermore, food and
beverage outlets, laundry outlets, car wash centres, abd health and beauty
outlets took a hit from the water rationing in the Klang Valley since
February this year. |
|
|
On the other hand, in 2014, Malaysia's
total trade is expected to grow 5.2% to RM1.44 trillion (2013: 4.5%; RM1.37
trillion) underpinned by recovery in key advanced economies, resilient regional
demand, and partly due to the base effect arising from sluggish exports in
the corresponding period last year. Gross exports are anticipated to expand
6% to RM762.8 billion while import decreased 4.3% to RM677.2 billion (2013:
2.4%; RM719.8 billion; 7%; RM 649.1 billion). Consequently, the trade surplus
is expected to be higher at RM85.6 billion or 7.9% of GDP in 2014 (2013:
RM70.7 billion; 7.2%). |
|
|
Furthermore, gross exports rebounded by
10.7% to RM441.3 billion during the first seven months of 2014 (January -
July 2013: -2.8%; RM398.5 billion), with manufactured and mining exports
rising at a double digit pace of 11.4% and 12.5%. Shipment of agriculture
products grew at a slower pace of 2.7%, primarily due to lower receipts of
crude rubber (-24.6%) while export growth of other commodities remained
steady. Consequently, exports of manufactured and mining products are
expected to grow 6.1% and 6.4% in 2014 (2013: 5.1%; 3.3%). Meanwhile,
agriculture exports are expected to rebound sharply by 4.5% in 2014 (2013:
-14.4%) despite moderating commodity prices. Malaysia's top 3 trading
partners are China, Singapore, and Japan. |
|
|
Over 60% of Gross Domestic Product (GDP)
is contributed by domestic consumption. Therefore the wholesale and retail sector
plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2010-05-31 |
2009-05-31 |
2008-05-31 |
2007-05-31 |
2006-05-31 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
11,195,286 |
11,246,157 |
10,632,490 |
8,655,884 |
8,264,389 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
11,195,286 |
11,246,157 |
10,632,490 |
8,655,884 |
8,264,389 |
|
Costs of Goods Sold |
(9,942,268) |
(9,944,664) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,253,018 |
1,301,493 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
71,214 |
353,698 |
245,572 |
176,425 |
107,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
71,214 |
353,698 |
245,572 |
176,425 |
107,232 |
|
Taxation |
(13,784) |
(79,127) |
(110,327) |
(85,304) |
(55,448) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
57,430 |
274,571 |
135,245 |
91,121 |
51,784 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
57,430 |
274,571 |
135,245 |
91,121 |
51,784 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
57,430 |
274,571 |
135,245 |
91,121 |
51,784 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
974,703 |
700,132 |
564,887 |
473,766 |
421,982 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
974,703 |
700,132 |
564,887 |
473,766 |
421,982 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,032,133 |
974,703 |
700,132 |
564,887 |
473,766 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,032,133 |
974,703 |
700,132 |
564,887 |
473,766 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
50,439 |
56,356 |
- |
- |
- |
|
Hire purchase |
8,895 |
- |
- |
- |
- |
|
Term loan / Borrowing |
37,817 |
44,377 |
- |
- |
- |
|
Trust receipts |
3,813 |
12,371 |
- |
- |
- |
|
Others |
53,931 |
57,548 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
154,895 |
170,652 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
107,288 |
66,900 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
107,288 |
66,900 |
- |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,539,583 |
1,456,235 |
1,521,865 |
1,723,767 |
1,950,886 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,539,583 |
1,456,235 |
1,521,865 |
1,723,767 |
1,950,886 |
|
Stocks |
252,095 |
250,383 |
- |
- |
- |
|
Trade debtors |
3,781,229 |
2,824,773 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
1,461,218 |
1,432,857 |
- |
- |
- |
|
Short term deposits |
610,873 |
599,777 |
- |
- |
- |
|
Amount due from director |
305,300 |
146,060 |
- |
- |
- |
|
Cash & bank balances |
1,605 |
18,294 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,412,320 |
5,272,144 |
6,012,806 |
5,281,383 |
4,637,130 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
7,951,903 |
6,728,379 |
7,534,671 |
7,005,150 |
6,588,016 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,353,210 |
2,073,192 |
- |
- |
- |
|
Other creditors & accruals |
110,545 |
125,561 |
- |
- |
- |
|
Hire purchase & lease creditors |
12,076 |
- |
- |
- |
- |
|
Bank overdraft |
636,532 |
725,366 |
- |
- |
- |
|
Short term borrowings/Term loans |
38,600 |
38,954 |
- |
- |
- |
|
Other borrowings |
- |
70,805 |
- |
- |
- |
|
Bill & acceptances payable |
1,099,000 |
1,126,000 |
- |
- |
- |
|
Provision for taxation |
396,282 |
365,585 |
- |
- |
- |
|
Other liabilities |
14,945 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,661,190 |
4,525,463 |
5,566,310 |
5,165,702 |
4,788,746 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
751,130 |
746,681 |
446,496 |
115,681 |
(151,616) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,290,713 |
2,202,916 |
1,968,361 |
1,839,448 |
1,799,270 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
700,000 |
700,000 |
700,000 |
700,000 |
700,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
700,000 |
700,000 |
700,000 |
700,000 |
700,000 |
|
Retained profit/(loss) carried forward |
1,032,133 |
974,703 |
700,132 |
564,887 |
473,766 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,032,133 |
974,703 |
700,132 |
564,887 |
473,766 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,732,133 |
1,674,703 |
1,400,132 |
1,264,887 |
1,173,766 |
|
Long term loans |
454,690 |
491,594 |
- |
- |
- |
|
Hire purchase creditors |
84,184 |
- |
- |
- |
- |
|
Deferred taxation |
19,706 |
36,619 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
558,580 |
528,213 |
568,229 |
574,561 |
625,504 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,290,713 |
2,202,916 |
1,968,361 |
1,839,448 |
1,799,270 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
TYPES OF FUNDS |
|||||
|
Cash |
612,478 |
618,071 |
- |
- |
- |
|
Net Liquid Funds |
(1,123,054) |
(1,233,295) |
- |
- |
- |
|
Net Liquid Assets |
499,035 |
496,298 |
446,496 |
115,681 |
(151,616) |
|
Net Current Assets/(Liabilities) |
751,130 |
746,681 |
446,496 |
115,681 |
(151,616) |
|
Net Tangible Assets |
2,290,713 |
2,202,916 |
1,968,361 |
1,839,448 |
1,799,270 |
|
Net Monetary Assets |
(59,545) |
(31,915) |
(121,733) |
(458,880) |
(777,120) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
226,109 |
524,350 |
- |
- |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
333,397 |
591,250 |
- |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
2,325,082 |
2,452,719 |
- |
- |
- |
|
Total Liabilities |
6,219,770 |
5,053,676 |
6,134,539 |
5,740,263 |
5,414,250 |
|
Total Assets |
7,951,903 |
6,728,379 |
7,534,671 |
7,005,150 |
6,588,016 |
|
Net Assets |
2,290,713 |
2,202,916 |
1,968,361 |
1,839,448 |
1,799,270 |
|
Net Assets Backing |
1,732,133 |
1,674,703 |
1,400,132 |
1,264,887 |
1,173,766 |
|
Shareholders' Funds |
1,732,133 |
1,674,703 |
1,400,132 |
1,264,887 |
1,173,766 |
|
Total Share Capital |
700,000 |
700,000 |
700,000 |
700,000 |
700,000 |
|
Total Reserves |
1,032,133 |
974,703 |
700,132 |
564,887 |
473,766 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.11 |
0.14 |
- |
- |
- |
|
Liquid Ratio |
1.09 |
1.11 |
- |
- |
- |
|
Current Ratio |
1.13 |
1.16 |
1.08 |
1.02 |
0.97 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
8 |
8 |
- |
- |
- |
|
Debtors Ratio |
123 |
92 |
- |
- |
- |
|
Creditors Ratio |
123 |
76 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.34 |
1.46 |
- |
- |
- |
|
Liabilities Ratio |
3.59 |
3.02 |
4.38 |
4.54 |
4.61 |
|
Times Interest Earned Ratio |
1.46 |
3.07 |
- |
- |
- |
|
Assets Backing Ratio |
3.27 |
3.15 |
2.81 |
2.63 |
2.57 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.64 |
3.15 |
2.31 |
2.04 |
1.30 |
|
Net Profit Margin |
0.51 |
2.44 |
1.27 |
1.05 |
0.63 |
|
Return On Net Assets |
9.87 |
23.80 |
12.48 |
9.59 |
5.96 |
|
Return On Capital Employed |
7.69 |
17.91 |
12.48 |
9.59 |
5.96 |
|
Return On Shareholders' Funds/Equity |
3.32 |
16.40 |
9.66 |
7.20 |
4.41 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
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.