|
Report No. : |
314138 |
|
Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX GOLD RESOURCES SDN BHD |
|
|
|
|
Registered Office : |
Unit 8c, Wisma Ypr, 1 Lorong Kapar, Off Jalan Syed
Putra, 8th Floor, 58000 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
23.04.2012 |
|
|
|
|
Com. Reg. No.: |
987904-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Engaged in trading
of rubber and Related Products [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
05 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
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 |
|
REGISTRATION NO. |
: |
987904-U |
|
COMPANY NAME |
: |
APEX GOLD
RESOURCES SDN. BHD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
23/04/2012 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
UNIT 8C, WISMA YPR, 1 LORONG KAPAR, OFF
JALAN SYED PUTRA, 8TH FLOOR, 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
BUSINESS ADDRESS |
: |
SUITE 42(D), 348 JALAN TUN RAZAK, LEVEL
42, 50400 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-21633281/21634281 |
|
FAX.NO. |
: |
03-21635281 |
|
WEB SITE |
: |
|
|
CONTACT PERSON |
: |
MAYSAM PEYMAN ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
46201 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF RUBBER AND RELATED PRODUCTS |
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 30,424,270 [2014] |
|
NET WORTH |
: |
MYR 1,035,584 [2014] |
|
STAFF STRENGTH |
: |
5 [2015] |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
Slow but Correct |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading of rubber and related products.
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 1,000,000.00 |
The major shareholder(s)
of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MASOUD PEYMAN + |
C-10-04, VILLA WANGSAMAS CONDOMINIUM, JALAN SRI WANGSA 2, WANGSA MAJU,
53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
J26939153 |
550,000.00 |
55.00 |
|
MAYSAM PEYMAN + |
C-10-04, VILLA WANGSAMAS CONDOMINIUM, JALAN SRI WANGSA 2, WANGSA MAJU,
53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
J26998969 |
450,000.00 |
45.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MAYSAM PEYMAN |
|
Address |
: |
C-10-04, VILLA WANGSAMAS CONDOMINIUM, JALAN
SRI WANGSA 2, WANGSA MAJU, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
J26998969 |
|
Date of Appointment |
: |
23/04/2012 |
DIRECTOR
2
|
Name Of Subject |
: |
MASOUD PEYMAN |
|
Address |
: |
C-10-04, VILLA WANGSAMAS CONDOMINIUM,
JALAN SRI WANGSA 2, WANGSA MAJU, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP No |
: |
J26939153 |
|
Date of Appointment |
: |
23/04/2012 |
|
1) |
Name of Subject |
: |
MAYSAM PEYMAN |
|
Position |
: |
DIRECTOR |
No Auditor found in our databank
|
1) |
Company Secretary |
: |
MS. DHATCHAYANI A/P RAMANATHAN |
|
New IC No |
: |
850305-14-6774 |
|
|
Address |
: |
17, JALAN PESONA 25/117A, KEMUNING PESONA, 40400 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the
time of investigation.
* 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.
* We have checked through the Subject in our
defaulters' database which comprised of debtors that have been blacklisted by
our customers and debtors that have been placed or assigned to us for
collection.
No blacklisted record & debt collection case
was found in our defaulters' databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its
supplier.
|
Local |
: |
N/A |
|||
|
Overseas |
: |
N/A |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
The Subject refused to disclose its
clientele.
|
Goods Traded |
: |
RUBBER AND RELATED PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
5 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as
an) trading of rubber and related products.
The Subject engaged in selling of rubber and related
products.
The Subject refused to disclose further information on
its business operation.
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
+60321633281 |
|
Current Telephone Number |
: |
03-21633281/21634281 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
SUITE 42D, LEVEL 42, NO.348 JALAN TUN RAZAK, 50400, KUALA LUMPUR,
MALAYSIA. |
|
Current Address |
: |
SUITE 42(D), 348 JALAN TUN RAZAK, LEVEL 42, 50400 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we
contacted one of the staff from the Subject and she provided some information.
The Subject refused to disclose its banker.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
5.83% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
78.83% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.39% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
0.60% |
] |
|
|
The lower turnover could be due to the unfavourable market conditions.The
Subject's profit fell sharply because of the high operating costs incurred.
The unfavourable return on shareholders' funds could indicate that the
Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Favourable |
[ |
1.63 Times |
] |
|
|
The Subject was in good liquidity position with its current
liabilities well covered by its current assets. With its net current
assets, the Subject should be able to repay its short term obligations. |
||||||
|
Solvency |
||||||
|
Liability Ratio |
: |
Unfavourable |
[ |
2.82 Times |
] |
|
|
The Subject has high liabilities ratio and it may face financial
difficulties if no additional capital is injected. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's performance deteriorated over the years with lower turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. 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 : LIMITED |
||||||
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months
of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of
New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of
Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of
New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business Dissolved
( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( %
of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented
Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented
Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR
Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production
Index |
|||||
|
MSIC CODE |
|
|
46201 : Wholesale of rubber |
|
|
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 |
|
|
Incorporated in 2012, the Subject is a
Private Limited company, focusing on trading of rubber and related products.
The Subject has been in business for less than 5 years and it has slowly been
building up contact with its clients while competing in the industry.
However, it has yet to enjoy a stable market shares as it need to compete
many well established players in the same field. A paid up capital of MYR
1,000,000 allows the Subject to expand its business more comfortably.
However, the Subject does not have strong shareholders’ backing. Without a strong shareholders' backing,
the opportunity of the Subject to expand its business is limited. Being a small company, the Subject's
business operation is supported by 5 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. The Subject is in good liquidity
position with its current liabilities well covered by it current assets.
Hence, it has sufficient working capital to meet its short term financial
obligations. 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 1,035,203, the Subject should be able to maintain its
business in the near terms. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. In view of the above, we recommend credit
be granted to the Subject with close monitoring. |
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
APEX GOLD
RESOURCES SDN. BHD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
|
TURNOVER |
30,424,270 |
32,309,286 |
|
---------------- |
---------------- |
|
|
Total Turnover |
30,424,270 |
32,309,286 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
9,909 |
46,808 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
9,909 |
46,808 |
|
Taxation |
(5,820) |
(15,313) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
4,089 |
31,495 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
31,495 |
- |
|
---------------- |
---------------- |
|
|
As restated |
31,495 |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
35,584 |
31,495 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
35,584 |
31,495 |
|
============= |
============= |
|
|
APEX GOLD
RESOURCES SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
199,903 |
225,225 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
199,903 |
225,225 |
|
TOTAL CURRENT ASSETS |
3,753,040 |
7,571,684 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
3,952,943 |
7,796,909 |
|
============= |
============= |
|
|
TOTAL CURRENT LIABILITIES |
2,299,963 |
6,291,413 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,453,077 |
1,280,271 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,652,980 |
1,505,496 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
|
Retained profit/(loss) carried forward |
35,584 |
31,495 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
35,584 |
31,495 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,035,584 |
1,031,495 |
|
TOTAL LONG TERM LIABILITIES |
617,396 |
474,001 |
|
---------------- |
---------------- |
|
|
1,652,980 |
1,505,496 |
|
|
============= |
============= |
|
|
APEX GOLD
RESOURCES SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Net Liquid Assets |
1,453,077 |
1,280,271 |
|
Net Current Assets/(Liabilities) |
1,453,077 |
1,280,271 |
|
Net Tangible Assets |
1,652,980 |
1,505,496 |
|
Net Monetary Assets |
835,681 |
806,270 |
|
BALANCE SHEET
ITEMS |
||
|
Total Liabilities |
2,917,359 |
6,765,414 |
|
Total Assets |
3,952,943 |
7,796,909 |
|
Net Assets |
1,652,980 |
1,505,496 |
|
Net Assets Backing |
1,035,584 |
1,031,495 |
|
Shareholders' Funds |
1,035,584 |
1,031,495 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
|
Total Reserves |
35,584 |
31,495 |
|
LIQUIDITY
(Times) |
||
|
Current Ratio |
1.63 |
1.20 |
|
SOLVENCY RATIOS
(Times) |
||
|
Liabilities Ratio |
2.82 |
6.56 |
|
Assets Backing Ratio |
1.65 |
1.51 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
0.03 |
0.14 |
|
Net Profit Margin |
0.01 |
0.10 |
|
Return On Net Assets |
0.60 |
3.11 |
|
Return On Capital Employed |
0.60 |
3.11 |
|
Return On Shareholders' Funds/Equity |
0.39 |
3.05 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
UK Pound |
1 |
Rs.92.65 |
|
Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.