|
Report No. : |
329152 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYARIKAT MENANG GLASSWARE SDN. BHD. |
|
|
|
|
Registered Office : |
36, Jalan Raja Bot, 50300 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysian |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
24.03.1990 |
|
|
|
|
Com. Reg. No.: |
195527-V |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in trading of glassware and crystalware |
|
|
|
|
No. of Employee : |
20 [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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Malaysian |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIAN - 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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
195527-V |
||||
|
COMPANY NAME |
: |
SYARIKAT MENANG GLASSWARE SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
24/03/1990 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
36, JALAN RAJA BOT, 50300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
36, JALAN RAJA BOT, 50300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-26928449/26928588 |
||||
|
FAX.NO. |
: |
03-26917661 |
||||
|
EMAIL |
: |
FEEDBACK@MENANG.COM.MY |
||||
|
WEB SITE |
: |
WWW.MENANG.COM.MY |
||||
|
CONTACT PERSON |
: |
YONG KIN FATT ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46494 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF GLASSWARE AND CRYSTALWARE |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 9,756,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 57,349,324 [2014] |
||||
|
NET WORTH |
: |
MYR 9,541,667 [2014] |
||||
|
STAFF STRENGTH |
: |
20 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
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 glassware and crystalware.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/09/2014 |
MYR 10,000,000.00 |
MYR 9,756,000.00 |
|
18/03/2005 |
MYR 10,000,000.00 |
MYR 9,676,000.00 |
|
20/08/2003 |
MYR 10,000,000.00 |
MYR 9,606,000.00 |
|
25/03/2003 |
MYR 10,000,000.00 |
MYR 9,556,000.00 |
|
07/02/2003 |
MYR 10,000,000.00 |
MYR 9,380,000.00 |
|
26/06/2001 |
MYR 10,000,000.00 |
MYR 9,221,000.00 |
|
12/04/2001 |
MYR 10,000,000.00 |
MYR 8,525,000.00 |
|
05/03/2001 |
MYR 5,000,000.00 |
MYR 4,025,000.00 |
|
08/03/2000 |
MYR 5,000,000.00 |
MYR 3,570,000.00 |
|
10/11/1998 |
MYR 5,000,000.00 |
MYR 3,000,000.00 |
|
20/03/1997 |
MYR 5,000,000.00 |
MYR 2,520,000.00 |
|
01/12/1995 |
MYR 2,000,000.00 |
MYR 1,579,010.00 |
|
02/04/1993 |
MYR 1,500,000.00 |
MYR 1,260,010.00 |
|
30/12/1992 |
MYR 1,500,000.00 |
MYR 1,000,010.00 |
|
23/04/1990 |
MYR 250,000.00 |
MYR 10.00 |
The major shareholder(s) of the Subject are
shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. YONG KIN FATT + |
36-A, JALAN RAJA BOT, 50300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
601025-10-5639 6058337 |
8,480,699.00 |
86.93 |
|
MS. YAP YOKE KHIM + |
36-A, JALAN RAJA BOT, 50300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
621121-10-7632 6939034 |
1,275,301.00 |
13.07 |
|
--------------- |
------ |
|||
|
9,756,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. YAP YOKE KHIM |
|
Address |
: |
36-A, JALAN RAJA BOT, 50300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6939034 |
|
New IC No |
: |
621121-10-7632 |
|
Date of Birth |
: |
21/11/1962 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/03/1990 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. YONG KIN FATT |
|
Address |
: |
36-A, JALAN RAJA BOT, 50300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6058337 |
|
New IC No |
: |
601025-10-5639 |
|
Date of Birth |
: |
25/10/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/03/1990 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
YAP YOKE KHIM |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
YONG KIN FATT |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
LAWRENCE WONG & CO |
|
Auditor' Address |
: |
E-10-22, AMCORP MALL, AMCORP TRADE CENTRE,
18, JALAN PERSIARAN BARAT, LEVEL 10, 46050 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. GIAN GUEK POH |
|
New IC No |
: |
520811-71-5122 |
|
|
Address |
: |
389, JALAN 5/61, PETALING GARDEN, 46000
PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
PUBLIC BANK BHD |
|
3) |
Name |
: |
AFFIN BANK BERHAD |
|
4) |
Name |
: |
ALLIANCE BANK MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
15/12/1992 |
CHARGE |
PERWIRA HABIB BANK MALAYSIA BERHAD |
MYR 1,400,000.00 |
Unsatisfied |
|
4 |
14/09/1993 |
1ST LOAN AGREEMENT AND DEED OF ASSIGNMENT |
PUBLIC BANK BERHAD |
MYR 800,000.00 |
Unsatisfied |
|
5 |
14/09/1993 |
2ND LOAN AGREEMENT |
PUBLIC BANK BERHAD |
MYR 800,000.00 |
Unsatisfied |
|
6 |
26/12/1995 |
ADDITIONAL DEBENTURE & LOAN AGREEMENT
CUM ASSIGNMENT & THIRD LEGAL CHARGE |
PERWIRA AFFIN BANK BERHAD |
MYR 3,640,000.00 |
Unsatisfied |
|
7 |
09/05/1996 |
1ST NATIONAL LAND CODE CHARGE |
PUBLIC BANK BERHAD |
MYR 1,533,000.00 |
Unsatisfied |
|
8 |
13/03/1997 |
2ND NATIONAL LAND CODE CHARGE |
PUBLIC BANK BERHAD |
MYR 2,600,000.00 |
Unsatisfied |
|
10 |
30/03/1997 |
CHARGE |
MAYBANK FINANCE BERHAD |
MYR 440,000.00 |
Unsatisfied |
|
12 |
09/07/1997 |
SECOND LEGAL CHARGE |
PHILEOALLIED BANK (MALAYSIA) BERHAD |
MYR 120,000.00 |
Unsatisfied |
|
13 |
19/12/1997 |
LOAN AGREEMENT AND DEEDS |
PUBLIC BANK BERHAD |
MYR 1,021,000.00 |
Unsatisfied |
|
14 |
23/12/1997 |
ADDITIONAL DEBENTURE & FIRST LEGAL
CHARGE & SECOND LEGAL CHARGE & LOAN AGREEMENT CUM ASSIGNMENT &
LOAN AGREEMENT CUM CONFIRMATION ASSIGNMENT & FOURTH LEGAL CHARGE |
PERWIRA AFFIN BANK BERHAD |
MYR 1,307,000.00 |
Unsatisfied |
|
15 |
13/02/1998 |
LOAN AGREEMENT-CUM-ASSIGNMENT |
BSN COMMERCIAL BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
16 |
09/06/2000 |
ADDITIONAL DEBENTURE & FIFTH LEGAL
CHARGE & SECOND LEGAL CHARGE & THIRD LEGAL CHARGE |
PERWIRA AFFIN BANK BERHAD |
MYR 2,400,000.00 |
Unsatisfied |
|
17 |
16/04/2001 |
FIRST PARTY FOURTH LEGAL CHARGE |
PUBLIC BANK BERHAD |
MYR 3,650,000.00 |
Unsatisfied |
|
18 |
25/03/2002 |
ADDITIONAL DEBENTURE & FIRST PARTY
LEGAL CHARGE |
AFFIN BANK BERHAD |
MYR 2,224,975.00 |
Unsatisfied |
|
19 |
01/08/2002 |
FIRST PARTY LEGAL CHARGE |
AFFIN BANK BERHAD |
MYR 2,224,975.00 |
Unsatisfied |
|
20 |
30/06/2003 |
FACILITIES AGREEMENT & FIRST LEGAL
CHARGE |
AFFIN BANK BERHAD |
MYR 333,000.00 |
Unsatisfied |
|
21 |
10/12/2003 |
FACILITIES AGREEMENT & FIFTH
SUPPLEMENTAL DEBENTURE & SIXTH LEGAL CHARGE & FOURTH LEGAL CHARGE
& THIRD LEGAL CHARGE & SECOND LEGAL CHARGES |
AFFIN BANK BERHAD |
MYR 3,000,000.00 |
Unsatisfied |
|
22 |
27/05/2004 |
3RD PARTY FIRST LEGAL CHARGE |
ALLIANCE BANK MALAYSIA BHD |
MYR 480,000.00 |
Unsatisfied |
|
23 |
08/07/2004 |
FACILITY AGREEMENT & JOINT AND
SEVERALLY GUARANTEE & SINKING FUND |
PUBLIC BANK BERHAD |
MYR 1,000,000.00 |
Unsatisfied |
|
24 |
08/07/2004 |
FACILITY AGREEMENT & JOINT AND
SEVERALLY GUARANTEE & SINKING FUND |
PUBLIC BANK BERHAD |
MYR 1,000,000.00 |
Unsatisfied |
|
25 |
30/12/2004 |
FACILITIES AGREEMENT & ASSIGNMENT (3RD
PARTY) & POWER OF ATTORNEY |
STANDARD CHARTERED BANK (MALAYSIA) BERHAD |
MYR 365,085.60 |
Unsatisfied |
|
26 |
18/02/2005 |
FACILITIES AGREEMENT & EXISTING FIRST
PARTY FIFTH LEGAL CHARGE |
PUBLIC BANK BERHAD |
1,500,000.00 |
Unsatisfied |
|
27 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
28 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
29 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
30 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
31 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
32 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
33 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
34 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
35 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
36 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
37 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
38 |
23/02/2006 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 9,000,000.00 |
Unsatisfied |
|
39 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
40 |
23/02/2006 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,000,000.00 |
Unsatisfied |
|
41 |
21/04/2006 |
FACILITIES AGREEMENT & EXISTING
REGISTERED OPEN ALL MONIES 1ST PARTY CHARGE |
PUBLIC BANK BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
42 |
02/05/2006 |
LETTER OF SET OFF |
PUBLIC BANK BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
43 |
14/06/2007 |
LETTER OF SET OFF |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
44 |
28/01/2008 |
FACILITIES AGREEMENT & EXISTING
REGISTERED OPEN ALL MONIES 1ST PARTY CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
45 |
03/07/2008 |
LETTER OF SET OFF |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
46 |
07/08/2008 |
FACILITY AGREEMENT & 3RD PARTY DEED OF
ASSIGNMENT & POWER OF ATTORNEY |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
47 |
07/08/2008 |
FACILITY AGREEMENT & 3RD PARTY DEED OF
ASSIGNMENT & POWER OF ATTORNEY |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
48 |
08/10/2008 |
THIRD LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
MYR 1,500,000.00 |
Unsatisfied |
|
49 |
08/10/2008 |
THIRD LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
MYR 1,500,000.00 |
Unsatisfied |
|
50 |
30/12/2008 |
FACILITIES AGREEMENT & EXISTING
REGISTERED OPEN ALL MONIES 1ST PARTY CHARGE & LETTER OF SET OFF |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
51 |
10/07/2009 |
FACILITY AGREEMENT & THIRD PARTY DEED
OF ASSIGNMENT & DEED OF ASSIGNMENT & REGISTERED ALL MONIES 3RD PARTY
CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
52 |
15/10/2010 |
FIRST PARTY FIRST LEGAL CHARGE |
AFFIN BANK BERHAD |
- |
Unsatisfied |
|
53 |
15/10/2010 |
FIRST PARTY FIRST LEGAL CHARGE |
AFFIN BANK BERHAD |
- |
Unsatisfied |
|
54 |
15/10/2010 |
FIRST PARTY FIRST LEGAL CHARGE |
AFFIN BANK BERHAD |
- |
Unsatisfied |
|
55 |
15/10/2010 |
FIRST PARTY FIRST LEGAL CHARGE |
AFFIN BANK BERHAD |
- |
Unsatisfied |
|
56 |
15/10/2010 |
FACILITIES AGREEMENT & CHARGE OVER
CASH DEPOSIT & LETTER OF SET OFF & NEGATIVE PLEDGE |
AFFIN BANK BERHAD |
- |
Unsatisfied |
|
57 |
31/01/2011 |
FIRST LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 8,500,000.00 |
Unsatisfied |
|
58 |
31/01/2011 |
SECOND LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
MYR 5,500,000.00 |
Unsatisfied |
|
59 |
18/07/2011 |
MEMORANDUM OF DEPOSIT |
PAC LEASE BERHAD |
MYR 500,000.00 |
Unsatisfied |
|
60 |
14/12/2012 |
FIRST PARTY LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
61 |
11/03/2013 |
FIRST PARTY LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
62 |
13/09/2013 |
GENERAL FACILITY AGREEMENT & 1ST PARTY
1ST LEGAL CHARGE |
CIMB ISLAMIC BANK BERHAD |
MYR 2,925,836.16 |
Unsatisfied |
|
63 |
22/11/2013 |
ALL MONIES DEED OF ASSIGNMENT |
UNITED OVERSEAS BANK (MALAYSIA) BHD. |
- |
Unsatisfied |
|
64 |
13/02/2014 |
FIRST PARTY DEED OF ASSIGNMENT & POWER
OF ATTORNEY |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
65 |
01/12/2014 |
ALL MONIES LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
66 |
16/03/2015 |
FIRST PARTY LEGAL CHARGE |
PUBLIC BANK 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 |
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 |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
20 |
n/a |
|||||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of glassware
and crystalware.
The Subject sells glasswares for residential and commercial use.
The Subject refused to disclose more information on its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-26928449/26928588 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
36, JALAN RAJA BOT,50300,KUALA
LUMPUR,WILAYAH PERSEKUTUAN. |
|
Current Address |
: |
36, JALAN RAJA BOT, 50300 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
|
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
8.26% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.98% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.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 |
: |
Acceptable |
[ |
64 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
17 Days |
] |
|
|
The Subject kept adequate stocks to meet its
normal business transactions without incurring excessive storage costs. The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.35 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.79 Times |
] |
|
|
A low liquid ratio means that the Subject
may be facing working capital deficiency. If the Subject cannot obtain
additional financing or injection of fresh capital, it may face difficulties
in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.07 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.63 Times |
] |
|
|
The Subject's interest cover was low. If its
profits fall or when interest rate rises, it may not be able to meet
all its interest payment. The Subject was highly geared, thus it had a high
financial risk. The Subject was dependent on loans to finance its business
needs. In times of economic downturn and / or high interest rate, the Subject
will become less profitable and competitive than other firms in the same
industry, which are lowly geared. This is because the Subject has to service
the interest and to repay the loan, which will erode part of its profits. The
profits will fluctuate depending on the Subject's turnover and the interest
it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
Although the turnover was erratic, the Subject
had maintained a steady growth in its profit. This indicate the management's
efficiency in controlling its costs and profitability. Due to its weak
liquidity position, the Subject will be faced with problems in meeting all
its short term obligations if no short term loan is obtained or additional
capital injected into the Subject. If there is a fall in the Subject's profit
or any increase in interest rate, the Subject may not be able to generate
sufficient cash-flow to service its interest. The Subject's gearing level was
high and its going concern will be in doubt if there is no injection of
additional shareholders' funds in times of economic downturn and / or high
interest rates. |
||||||
|
Overall financial
condition of the Subject : POOR |
||||||
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 |
|
|
46494 : Wholesale of household utensils
and cutlery, crockery, glassware, chinaware and pottery |
|
|
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) |
|
SYARIKAT
MENANG GLASSWARE SDN. BHD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
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 |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
57,349,324 |
66,193,368 |
55,236,578 |
59,160,751 |
66,315,613 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
57,349,324 |
66,193,368 |
55,236,578 |
59,160,751 |
66,315,613 |
|
Costs of Goods Sold |
(38,368,836) |
(48,941,795) |
(42,044,849) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
18,980,488 |
17,251,573 |
13,191,729 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,298,876 |
1,127,066 |
353,788 |
337,430 |
303,820 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,298,876 |
1,127,066 |
353,788 |
337,430 |
303,820 |
|
Taxation |
(510,937) |
(1,014,735) |
(494,082) |
(362,494) |
(282,427) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
787,939 |
112,331 |
(140,294) |
(25,064) |
21,393 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
(970,638) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
(970,638) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(214,333) |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(214,333) |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
246,320 |
238,653 |
443,270 |
- |
- |
|
Hire purchase |
40,848 |
28,097 |
25,802 |
- |
- |
|
Term loan / Borrowing |
710,384 |
820,299 |
1,247,709 |
- |
- |
|
Others |
214,909 |
230,405 |
614,172 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,212,461 |
1,317,454 |
2,330,953 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
941,848 |
725,618 |
655,811 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
941,848 |
725,618 |
655,811 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
SYARIKAT
MENANG GLASSWARE SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
21,633,435 |
18,677,820 |
17,675,367 |
17,813,546 |
16,665,280 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
21,633,435 |
18,677,820 |
17,675,367 |
17,813,546 |
16,665,280 |
|
Stocks |
10,041,390 |
10,667,944 |
16,658,169 |
- |
- |
|
Trade debtors |
4,056,884 |
4,724,305 |
5,497,477 |
- |
- |
|
Other debtors, deposits & prepayments |
2,629,330 |
2,028,475 |
477,402 |
- |
- |
|
Short term deposits |
758,387 |
150,902 |
800,000 |
- |
- |
|
Amount due from director |
382,626 |
534,755 |
- |
- |
- |
|
Cash & bank balances |
278,272 |
577,348 |
370,111 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
18,146,889 |
18,683,729 |
23,803,159 |
25,062,162 |
24,793,942 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
39,780,324 |
37,361,549 |
41,478,526 |
42,875,708 |
41,459,222 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
1,802,511 |
442,486 |
81,920 |
- |
- |
|
Other creditors & accruals |
1,416,060 |
687,215 |
821,684 |
- |
- |
|
Hire purchase & lease creditors |
257,893 |
186,254 |
118,807 |
- |
- |
|
Bank overdraft |
4,102,275 |
1,702,224 |
5,875,981 |
- |
- |
|
Short term borrowings/Term loans |
3,465,958 |
3,138,546 |
2,911,284 |
- |
- |
|
Bill & acceptances payable |
10,194,401 |
11,059,803 |
9,841,329 |
- |
- |
|
Amounts owing to director |
408,487 |
380,525 |
621,665 |
- |
- |
|
Provision for taxation |
1,369,073 |
1,655,894 |
1,267,297 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
23,016,658 |
19,252,947 |
21,539,967 |
21,287,084 |
27,938,490 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(4,869,769) |
(569,218) |
2,263,192 |
3,775,078 |
(3,144,548) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
16,763,666 |
18,108,602 |
19,938,559 |
21,588,624 |
13,520,732 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
|
Retained profit/(loss) carried forward |
(214,333) |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(214,333) |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
9,541,667 |
8,753,728 |
8,641,397 |
8,781,691 |
8,806,755 |
|
Long term loans |
6,379,087 |
8,713,359 |
11,077,334 |
- |
- |
|
Hire purchase creditors |
699,221 |
495,802 |
86,690 |
- |
- |
|
Deferred taxation |
143,691 |
145,713 |
133,138 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
7,221,999 |
9,354,874 |
11,297,162 |
12,806,933 |
4,713,977 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
16,763,666 |
18,108,602 |
19,938,559 |
21,588,624 |
13,520,732 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
SYARIKAT
MENANG GLASSWARE SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,036,659 |
728,250 |
1,170,111 |
- |
- |
|
Net Liquid Funds |
(13,260,017) |
(12,033,777) |
(14,547,199) |
- |
- |
|
Net Liquid Assets |
(14,911,159) |
(11,237,162) |
(14,394,977) |
3,775,078 |
(3,144,548) |
|
Net Current Assets/(Liabilities) |
(4,869,769) |
(569,218) |
2,263,192 |
3,775,078 |
(3,144,548) |
|
Net Tangible Assets |
16,763,666 |
18,108,602 |
19,938,559 |
21,588,624 |
13,520,732 |
|
Net Monetary Assets |
(22,133,158) |
(20,592,036) |
(25,692,139) |
(9,031,855) |
(7,858,525) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
2,511,337 |
2,444,520 |
2,684,741 |
- |
- |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
3,453,185 |
3,170,138 |
3,340,552 |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
25,098,835 |
25,295,988 |
29,911,425 |
- |
- |
|
Total Liabilities |
30,238,657 |
28,607,821 |
32,837,129 |
34,094,017 |
32,652,467 |
|
Total Assets |
39,780,324 |
37,361,549 |
41,478,526 |
42,875,708 |
41,459,222 |
|
Net Assets |
16,763,666 |
18,108,602 |
19,938,559 |
21,588,624 |
13,520,732 |
|
Net Assets Backing |
9,541,667 |
8,753,728 |
8,641,397 |
8,781,691 |
8,806,755 |
|
Shareholders' Funds |
9,541,667 |
8,753,728 |
8,641,397 |
8,781,691 |
8,806,755 |
|
Total Share Capital |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
9,756,000 |
|
Total Reserves |
(214,333) |
(1,002,272) |
(1,114,603) |
(974,309) |
(949,245) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.05 |
0.04 |
0.05 |
- |
- |
|
Liquid Ratio |
0.35 |
0.42 |
0.33 |
- |
- |
|
Current Ratio |
0.79 |
0.97 |
1.11 |
1.18 |
0.89 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
64 |
59 |
110 |
- |
- |
|
Debtors Ratio |
26 |
26 |
36 |
- |
- |
|
Creditors Ratio |
17 |
3 |
1 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
2.63 |
2.89 |
3.46 |
- |
- |
|
Liabilities Ratio |
3.17 |
3.27 |
3.80 |
3.88 |
3.71 |
|
Times Interest Earned Ratio |
2.07 |
1.86 |
1.15 |
- |
- |
|
Assets Backing Ratio |
1.72 |
1.86 |
2.04 |
2.21 |
1.39 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.26 |
1.70 |
0.64 |
0.57 |
0.46 |
|
Net Profit Margin |
1.37 |
0.17 |
(0.25) |
(0.04) |
0.03 |
|
Return On Net Assets |
14.98 |
13.50 |
13.47 |
1.56 |
2.25 |
|
Return On Capital Employed |
11.89 |
12.22 |
10.35 |
1.56 |
2.25 |
|
Return On Shareholders' Funds/Equity |
8.26 |
1.28 |
(1.62) |
(0.29) |
0.24 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
UK Pound |
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
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.