MIRA INFORM REPORT

 

 

Report No. :

313363

Report Date :

20.03.2015

 

IDENTIFICATION DETAILS

 

Name :

TRIZON ENTERPRISE SDN BHD

 

 

Registered Office :

35-10, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.10.1978

 

 

Com. Reg. No.:

42384-K

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

·         engaged in the sale and distribution of Animal Raw Materials and Nutritional Products

·         Engaged in trading of Animal Feeds

 

 

No of Employees :

16 [2015]

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Malaysia ECONOMIC OVERVIEW

 

Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 32% of government revenue in 2013. Bank Negara Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB earlier raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays.

 

Source : CIA

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

42384-K

COMPANY NAME

:

TRIZON ENTERPRISE SDN BHD

FORMER NAME

:

N/A

INCORPORATION DATE

:

11/10/1978

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

35-10, THE BOULEVARD, MID VALLEY CITY, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

12, JALAN U5/28, (PS), SEKSYEN U5 (PANASURIA), 40150 SHAH ALAM, SELANGOR, MALAYSIA.

TEL.NO.

:

03-78462558/78462575/78462582

FAX.NO.

:

03-78462513

CONTACT PERSON

:

NG WENG WOY ( DIRECTOR )

INDUSTRY CODE

:

46902

PRINCIPAL ACTIVITY

:

·         engaged in the sale and distribution of Animal Raw Materials and Nutritional Products

·         Engaged in trading of Animal Feeds

AUTHORISED CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO 
ORDINARY SHARE 1,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 1,000,000.00 DIVIDED INTO 
ORDINARY SHARES 955,000 CASH AND 45,000 OTHERWISE OF MYR 1.00 EACH.

SALES

:

MYR 13,835,149 [2013]

NET WORTH

:

MYR 2,784,378 [2013]

STAFF STRENGTH

:

16 [2015]

BANKER (S)

:

ALLIANCE BANK MALAYSIA BHD
AMBANK (M) BHD
PUBLIC BANK BHD
STANDARD CHARTERED BANK MALAYSIA BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

No Complaints 

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

N/A

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 animal feeds.

 

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

22/01/2015

MYR 1,000,000.00

MYR 1,000,000.00

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. NG WENG WOY @ NG WING WAI +

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

410706-08-5133 0630056

450,000.00

45.00

MS. LOK KON @ LOK CHEU KEAN +

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

471020-10-5370 7988966

200,000.00

20.00

MR. NG KING SOON +

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

740317-14-5325

150,000.00

15.00

MR. WONG SE LOK @ WONG WAI CHEONG +

3, JALAN 10, KAWASAN 16, TAMAN BUKIT CEMERLANG, 41300 KLANG, SELANGOR, MALAYSIA.

390304-01-5129 0751017

100,000.00

10.00

TAI HONG YONG

SEBERANG PERAI, MALAYSIA.

480224-01-5259 1794748

65,000.00

6.50

MS. SAW CHIAN KIM

52, JALAN SS 26/5, TAMAN MAYANG JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA.

540504-01-6258 8142002

35,000.00

3.50

---------------

------

1,000,000.00

100.00

============

=====

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

Name Of Subject

:

MR. WONG SE LOK @ WONG WAI CHEONG

Address

:

3, JALAN 10, KAWASAN 16, TAMAN BUKIT CEMERLANG, 41300 KLANG, SELANGOR, MALAYSIA.

IC / PP No

:

0751017

New IC No

:

390304-01-5129

Date of Birth

:

04/03/1939

Nationality

:

MALAYSIAN

Date of Appointment

:

09/03/1995

 

DIRECTOR 2

Name Of Subject

:

MR. NG KING SOON

Address

:

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

New IC No

:

740317-14-5325

Date of Birth

:

17/03/1974

Nationality

:

MALAYSIAN

Date of Appointment

:

29/10/2009

 

DIRECTOR 3

Name Of Subject

:

MS. LOK KON @ LOK CHEU KEAN

Address

:

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

IC / PP No

:

7988966

New IC No

:

471020-10-5370

Date of Birth

:

20/10/1947

Nationality

:

MALAYSIAN

Date of Appointment

:

14/09/1992

 

DIRECTOR 4

Name Of Subject

:

MR. NG WENG WOY @ NG WING WAI

Address

:

16, JALAN TR 7/2, TROPICANA GOLF & COUNTRY CLUB, 47410 PETALING JAYA, SELANGOR, MALAYSIA.

IC / PP No

:

0630056

New IC No

:

410706-08-5133

Date of Birth

:

06/07/1941

Nationality

:

MALAYSIAN

Date of Appointment

:

11/10/1978




MANAGEMENT

 

 

 

1)

Name of Subject

:

NG WENG WOY

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

RICHARD HO & ASSOCIATES

Auditor' Address

:

11-1-1, JALAN 3/62D, MEDAN PUTRA BUSINESS CENTRE, BANDAR SRI MENJALARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. YEO BEE NAH

IC / PP No

:

A0601115

New IC No

:

670214-01-6036

Address

:

2, JALAN TIONG SATU, BANDAR PUCHONG JAYA, 47100 PUCHONG, SELANGOR, MALAYSIA.

 

2)

Company Secretary

:

MR. LAM FOO HONG

IC / PP No

:

A3241710

New IC No

:

760428-14-5481

Address

:

38, JALAN 3/96, TAMAN SRI BAHTERA, CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

ALLIANCE BANK MALAYSIA BHD

 

2)

Name

:

AMBANK (M) BHD

 

3)

Name

:

PUBLIC BANK BHD

 

4)

Name

:

STANDARD CHARTERED BANK MALAYSIA BHD

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

1

15/04/1996

N/A

ARABMALAYSIAN BANK BERHAD

MYR 240,000.00

Satisfied

2

06/01/1998

N/A

STANDARD CHARTERED BANK MALAYSIA BERHAD

MYR 1.00

Satisfied

3

28/10/2003

N/A

STANDARD CHARTERED BANK MALAYSIA BERHAD

MYR 100,660.00

Satisfied

4

23/03/2004

N/A

STANDARD CHARTERED BANK MALAYSIA BERHAD

MYR 109,060.00

Unsatisfied

5

24/05/2005

N/A

ALLIANCE BANK MALAYSIA BHD

-

Satisfied

6

25/03/2009

N/A

AMBANK (M) BHD

-

Unsatisfied

7

11/05/2009

N/A

AMBANK (M) BHD

-

Satisfied

8

24/03/2010

N/A

AMBANK (M) BHD

-

Unsatisfied

9

24/03/2010

N/A

AMBANK (M) BHD

-

Satisfied

10

14/10/2010

N/A

AMBANK (M) BHD

-

Unsatisfied

11

26/11/2010

DEED ASSIGNMENT

STANDARD CHARTERED BANK MALAYSIA BHD

-

Unsatisfied

12

26/11/2010

DEED OF ASSIGNMENT

STANDARD CHARTERED BANK MALAYSIA BHD

-

Unsatisfied

13

23/12/2010

REGISTERED OPEN ALL MONIES

PUBLIC BANK BHD

-

Unsatisfied

14

24/07/2012

N/A

PUBLIC BANK BHD

-

Unsatisfied

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank against the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.


No legal action was found in our databank.


No winding up petition was found in our databank.



DEFAULTER CHECK AGAINST SUBJECT


* We have checked through the Subject in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection.


No blacklisted record & debt collection case was found in our defaulters' databank.

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject refused to disclose its supplier. 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Credit Term

:

30 DAYS

Payment Mode

:

CASH
CHEQUES



OPERATIONS

 

Goods Traded

:

ANIMAL FEEDS

 

Total Number of Employees:

 

YEAR

2015

2011

2010

GROUP

N/A

N/A

N/A

COMPANY

16

20

20

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of animal feeds. 


The Subject is principally engaged in the sale and distribution of animal raw materials and nutritional products.

We were informed that the Subject's products include vitamins, minerals, multi-vitamins & proteins. 


According to the Subject, its products are for swines. The Subject imports the products and repacked into bags of 25 kg and 30 kg. Besides that the Subject sells the veterinary products in powder form. 


In addition the Subject has a warehouse located at the same premises to keep stock. The Subject also provides the delivery services to the customers. 


The Subject revealed that the Subject's management and sales operation is overseen by its Managing Director, Mr Ng Weng Woy. The Subject does not have any branch at the moment. 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

+60 3-7846 2558, 78462575, 78462582

Current Telephone Number

:

03-78462558/78462575/78462582

Match

:

YES

Address Provided by Client

:

12, JALAN U5/28 (PS), SEKSYEN U5 (PANASURIA), 40450, SHAH ALAM, SELANGOR, DARUL EHSAN, MALAYSIA

Current Address

:

12, JALAN U5/28, (PS), SEKSYEN U5 (PANASURIA), 40150 SHAH ALAM, SELANGOR, MALAYSIA.

Match

:

NO

Latest Financial Accounts

:

YES

 

Other Investigations

we contacted one of the staff from the Subject and she provided some information.

The postcode number provided is incorrect.

 

FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Erratic

[

2009 - 2013

]

Profit/(Loss) Before Tax

:

Decreased

[

2009 - 2013

]

Return on Shareholder Funds

:

Unfavourable

[

8.43%

]

Return on Net Assets

:

Unfavourable

[

4.39%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.

Liquidity

Current Ratio

:

Unfavourable

[

0.91 Times

]

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.

Solvency

Liability Ratio

:

Unfavourable

[

3.34 Times

]

The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected.

Overall Assessment :

The Subject recorded lower profits as its turnover showed a erratic trend. The Subject's management was unable to control its costs efficiently as its profit showed a downward trend. The Subject's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. The Subject's liabilities 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 : FAIR

 

 

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2011

2012

2013

2014*

2015**

Population ( Million)

28.7

29.3

29.8

30.3

30.5

Gross Domestic Products ( % )

5.1

5.6

5.3

6.0

6.0

Domestic Demand ( % )

8.2

9.4

5.6

6.4

6.2

Private Expenditure ( % )

8.2

8.0

8.6

7.9

6.9

Consumption ( % )

7.1

1.0

5.7

6.5

5.6

Investment ( % )

12.2

11.7

13.3

12.0

10.7

Public Expenditure ( % )

8.4

13.3

4.4

2.3

4.2

Consumption ( % )

16.1

11.3

(1.2)

2.1

3.8

Investment ( % )

(0.3)

15.9

4.2

2.6

4.7

Balance of Trade ( MYR Million )

116,058

106,300

71,298

52,314

-

Government Finance ( MYR Million )

(45,511)

(42,297)

(39,993)

(37,291)

-

Government Finance to GDP / Fiscal Deficit ( % )

(5.4)

(4.5)

(4.0)

(3.5)

(3.0)

Inflation ( % Change in Composite CPI)

3.1

1.6

2.5

3.3

4.0

Unemployment Rate

3.3

3.2

3.0

3.0

3.0

Net International Reserves ( MYR Billion )

415

427

-

417

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

3.50

2.20

-

-

-

Average 3 Months of Non-performing Loans ( % )

14.80

14.70

-

-

-

Average Base Lending Rate ( % )

6.60

6.53

6.53

-

-

Business Loans Disbursed( % )

15.3

32.2

-

-

-

Foreign Investment ( MYR Million )

23,546.1

26,230.4

38,238.0

-

-

Consumer Loans ( % )

-

-

-

-

-

Registration of New Companies ( No. )

45,455

45,441

46,321

-

-

Registration of New Companies ( % )

3.0

(0.0)

1.9

-

-

Liquidation of Companies ( No. )

132,485

17,092

26,430

-

-

Liquidation of Companies ( % )

417.8

(87.1)

54.6

-

-

Registration of New Business ( No. )

284,598

324,761

329,895

-

-

Registration of New Business ( % )

5.0

14.0

2.0

-

-

Business Dissolved ( No. )

20,121

20,380

18,161

-

-

Business Dissolved ( % )

1.9

1.3

(10.9)

-

-

Sales of New Passenger Cars (' 000 Unit )

535.1

552.2

576.7

598.4

610.3

Cellular Phone Subscribers ( Million )

35.3

38.5

43.0

43.8

-

Tourist Arrival ( Million Persons )

24.7

25.0

25.7

28.0

-

Hotel Occupancy Rate ( % )

60.6

62.4

62.6

-

-

Credit Cards Spending ( % )

15.6

12.6

-

-

-

Bad Cheque Offenders (No.)

32,627

26,982

28,876

-

-

Individual Bankruptcy ( No.)

19,167

19,575

21,984

-

-

Individual Bankruptcy ( % )

5.8

2.1

12.3

-

-

INDUSTRIES ( % of Growth ):

2011

2012

2013

2014*

2015**

Agriculture

5.8

1.0

2.1

3.8

3.1

Palm Oil

10.8

(0.3)

2.6

6.7

-

Rubber

6.1

(7.9)

(10.1)

(10.4)

-

Forestry & Logging

(7.6)

(4.5)

(7.8)

(4.2)

-

Fishing

2.1

4.3

1.6

2.7

-

Other Agriculture

7.1

6.4

8.2

6.2

-

Industry Non-Performing Loans ( MYR Million )

634.1

-

-

-

-

% of Industry Non-Performing Loans

3.2

-

-

-

-

Mining

(5.4)

1.4

0.9

(0.8)

2.8

Oil & Gas

(1.7)

-

-

-

-

Other Mining

-

-

-

-

-

Industry Non-performing Loans ( MYR Million )

46.5

-

-

-

-

% of Industry Non-performing Loans

0.1

-

-

-

-

Manufacturing #

4.7

4.8

3.4

6.6

5.5

Exported-oriented Industries

4.1

6.5

3.3

5.6

-

Electrical & Electronics

(4.0)

12.7

6.9

13.3

-

Rubber Products

20.7

3.0

11.7

(0.3)

-

Wood Products

(5.1)

8.7

(2.7)

5.1

-

Textiles & Apparel

13.2

(7.1)

(2.6)

11.5

-

Domestic-oriented Industries

10.7

1.7

6.8

9.4

-

Food, Beverages & Tobacco

4.80

2.70

3.60

6.13

6.13

Chemical & Chemical Products

10.0

10.8

5.6

-

-

Plastic Products

3.8

-

-

-

-

Iron & Steel

2.2

(6.6)

5.0

0.1

-

Fabricated Metal Products

21.8

13.8

9.9

2.9

-

Non-metallic Mineral

12.1

2.9

(2.0)

5.4

-

Transport Equipment

12.0

3.4

13.8

22.9

-

Paper & Paper Products

9.5

3.1

1.8

4.7

-

Crude Oil Refineries

9.3

-

-

-

-

Industry Non-Performing Loans ( MYR Million )

6,537.2

-

-

-

-

% of Industry Non-Performing Loans

25.7

-

-

-

-

Construction

4.7

18.6

10.9

12.7

10.7

Industry Non-Performing Loans ( MYR Million )

3,856.9

-

-

-

-

% of Industry Non-Performing Loans

10.2

-

-

-

-

Services

7.1

6.4

5.9

5.9

5.6

Electric, Gas & Water

3.5

4.4

4.2

3.6

3.9

Transport, Storage & Communication

6.50

7.10

7.30

7.50

7.15

Wholesale, Retail, Hotel & Restaurant

5.2

4.7

5.9

6.9

6.5

Finance, Insurance & Real Estate

6.90

9.70

3.70

4.65

4.25

Government Services

12.4

9.4

8.3

6.1

5.6

Other Services

5.1

3.9

5.1

4.8

4.5

Industry Non-Performing Loans ( MYR Million )

6,825.2

-

-

-

-

% of Industry Non-Performing Loans

23.4

-

-

-

-

* Estimate / Preliminary

** Forecast

# Based On Manufacturing Production Index
(Source : Department of Statistics / Economic Report / Bank Negara Report)

 

 

INDUSTRY ANALYSIS

 

MSIC CODE

46902 : Wholesale of animal/pet food

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

 

 

Incorporated in 1978, the Subject is a Private Limited company, focusing on trading of animal feeds. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term.  The Subject is expected to enjoy a stable market shares. With a paid up capital of MYR 1,000,000, the Subject has greater opportunities to expand its business when the needs arise. Under the control of its directors, we considered that the Subject's business position in the market is much dependent on their abilities. 

Over the years, the Subject should have build up its clientele base and received supports from its regular customers. Investigation revealed that the Subject's interest lies mostly in the local market. Thus, any adverse changes to the local economy might have a negative impact on the Subject's business performance. Being a small company, the Subject's business operation is supported by 16 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

The Subject's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected. Given a positive net worth standing at MYR 2,784,378, the Subject should be able to maintain its business in the near terms. 

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry. 

Based on the above condition, we recommend credit be granted to the Subject normally.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

TRIZON ENTERPRISE 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

SUMMARY

SUMMARY

SUMMARY

SUMMARY

FULL

Currency

MYR

MYR

MYR

MYR

MYR

TURNOVER

13,835,149

13,960,075

13,831,188

12,363,112

11,273,786

----------------

----------------

----------------

----------------

----------------

Total Turnover

13,835,149

13,960,075

13,831,188

12,363,112

11,273,786

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

269,200

292,809

1,228,159

272,265

228,784

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

269,200

292,809

1,228,159

272,265

228,784

Taxation

(34,497)

(35,379)

(113,191)

(155,059)

(101,436)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

234,703

257,430

1,114,968

117,206

127,348

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,849,675

1,992,245

877,277

760,071

632,723

----------------

----------------

----------------

----------------

----------------

As restated

1,849,675

1,992,245

877,277

760,071

632,723

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

2,084,378

2,249,675

1,992,245

877,277

760,071

DIVIDENDS - Ordinary (paid & proposed)

-

(400,000)

-

-

-

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

2,084,378

1,849,675

1,992,245

877,277

760,071

=============

=============

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Hire purchase

-

-

-

-

38,225

Term loan / Borrowing

-

-

-

-

23,908

Others

-

-

-

-

7

----------------

----------------

----------------

----------------

----------------

-

-

-

-

62,140

=============

=============

 

 

 

BALANCE SHEET

 

 

TRIZON ENTERPRISE SDN BHD

 

ASSETS EMPLOYED:

FIXED ASSETS

6,662,709

6,587,556

3,579,410

3,709,393

2,148,001

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

6,662,709

6,587,556

3,579,410

3,709,393

2,148,001

Stocks

-

-

-

-

797,040

Trade debtors

-

-

-

-

2,681,173

Other debtors, deposits & prepayments

-

-

-

-

41,135

Cash & bank balances

-

-

-

-

32,091

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

5,431,743

4,886,908

5,166,188

4,252,808

3,551,439

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

12,094,452

11,474,464

8,745,598

7,962,201

5,699,440

=============

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

-

-

-

-

1,210,332

Other creditors & accruals

-

-

-

-

151,929

Hire purchase & lease creditors

-

-

-

-

181,793

Bank overdraft

-

-

-

-

713,705

Short term borrowings/Term loans

-

-

-

-

73,786

Bill & acceptances payable

-

-

-

-

1,129,615

Amounts owing to director

-

-

-

-

100,000

Provision for taxation

-

-

-

-

27,273

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

5,967,989

5,116,848

4,565,228

5,323,949

3,588,433

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(536,246)

(229,940)

600,960

(1,071,141)

(36,994)

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

6,126,463

6,357,616

4,180,370

2,638,252

2,111,007

=============

=============

=============

=============

=============

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

RESERVES

Share premium

-

-

1,992,245

-

-

Retained profit/(loss) carried forward

2,084,378

1,849,675

1,992,245

877,277

760,071

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

2,084,378

1,849,675

1,992,245

877,277

760,071

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

2,784,378

2,549,675

2,692,245

1,577,277

1,460,071

Long term loans

-

-

-

-

195,114

Hire purchase creditors

-

-

-

-

435,322

Deferred taxation

-

-

-

-

20,500

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

3,342,085

3,807,941

1,488,125

1,060,975

650,936

----------------

----------------

----------------

----------------

----------------

6,126,463

6,357,616

4,180,370

2,638,252

2,111,007

=============

=============

=============

=============

=============

 

 

 

FINANCIAL RATIO

 

 

TRIZON ENTERPRISE SDN BHD

 

TYPES OF FUNDS

Cash

-

-

-

-

32,091

Net Liquid Funds

-

-

-

-

(1,811,229)

Net Liquid Assets

(536,246)

(229,940)

600,960

(1,071,141)

(834,034)

Net Current Assets/(Liabilities)

(536,246)

(229,940)

600,960

(1,071,141)

(36,994)

Net Tangible Assets

6,126,463

6,357,616

4,180,370

2,638,252

2,111,007

Net Monetary Assets

(3,878,331)

(4,037,881)

(887,165)

(2,132,116)

(1,484,970)

BALANCE SHEET ITEMS

Total Borrowings

-

-

-

-

2,729,335

Total Liabilities

9,310,074

8,924,789

6,053,353

6,384,924

4,239,369

Total Assets

12,094,452

11,474,464

8,745,598

7,962,201

5,699,440

Net Assets

6,126,463

6,357,616

4,180,370

2,638,252

2,111,007

Net Assets Backing

2,784,378

2,549,675

2,692,245

1,577,277

1,460,071

Shareholders' Funds

2,784,378

2,549,675

2,692,245

1,577,277

1,460,071

Total Share Capital

700,000

700,000

700,000

700,000

700,000

Total Reserves

2,084,378

1,849,675

1,992,245

877,277

760,071

LIQUIDITY (Times)

Cash Ratio

-

-

-

-

0.01

Liquid Ratio

-

-

-

-

0.77

Current Ratio

0.91

0.96

1.13

0.80

0.99

WORKING CAPITAL CONTROL (Days)

Stock Ratio

-

-

-

-

26

Debtors Ratio

-

-

-

-

87

Creditors Ratio

-

-

-

-

39

SOLVENCY RATIOS (Times)

Gearing Ratio

-

-

-

-

1.87

Liabilities Ratio

3.34

3.50

2.25

4.05

2.90

Times Interest Earned Ratio

-

-

-

-

4.68

Assets Backing Ratio

8.75

9.08

5.97

3.77

3.02

PERFORMANCE RATIO (%)

Operating Profit Margin

1.95

2.10

8.88

2.20

2.03

Net Profit Margin

1.70

1.84

8.06

0.95

1.13

Return On Net Assets

4.39

4.61

29.38

10.32

13.78

Return On Capital Employed

4.39

4.61

29.38

10.32

9.68

Return On Shareholders' Funds/Equity

8.43

10.10

41.41

7.43

8.72

Dividend Pay Out Ratio (Times)

-

1.55

-

-

0.00

NOTES TO ACCOUNTS

Contingent Liabilities

-

0



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.42

UK Pound

1

Rs.92.99

Euro

1

Rs.67.29

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.