|
Report No. : |
324130 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRECISE ENGINEERING INDUSTRY SDN. BHD. |
|
|
|
|
Registered Office : |
Unit B-13A-1, Megan Avenue II, 12, Jalan Yap Kwan Seng,
50450 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
19.07.2011 |
|
|
|
|
Com. Reg. No.: |
953404-P |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Machinery Industry, General Trading; Engineering |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Falling global oil prices in the second half of 2014 have 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 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. 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. |
: |
953404-P |
|
|
COMPANY NAME |
: |
PRECISE
ENGINEERING INDUSTRY SDN. BHD. |
|
|
FORMER NAME |
: |
N/A |
|
|
INCORPORATION DATE |
: |
19/07/2011 |
|
|
COMPANY STATUS |
: |
EXIST |
|
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
|
LISTED STATUS |
: |
NO |
|
|
REGISTERED ADDRESS |
: |
UNIT B-13A-1, MEGAN AVENUE II, 12, JALAN
YAP KWAN SENG, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
BUSINESS ADDRESS |
: |
N/A |
|
|
TEL.NO. |
: |
N/A |
|
|
FAX.NO. |
: |
N/A |
|
|
HP.NO. |
: |
0132998300 |
|
|
CONTACT PERSON |
: |
N/A |
|
|
INDUSTRY CODE |
: |
46594 |
|
|
PRINCIPAL ACTIVITY |
: |
MACHINERY INDUSTRY, GENERAL TRADING;
ENGINEERING |
|
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
|
SALES |
: |
N/A |
|
|
NET WORTH |
: |
N/A |
|
|
STAFF STRENGTH |
: |
N/A |
|
|
LITIGATION |
: |
CLEAR |
|
|
DEFAULTER CHECK |
: |
CLEAR |
|
|
FINANCIAL CONDITION |
: |
N/A |
|
|
PAYMENT |
: |
N/A |
|
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
|
COMMERCIAL RISK |
: |
N/A |
|
|
CURRENCY EXPOSURE |
: |
N/A |
|
|
GENERAL REPUTATION |
: |
N/A |
|
|
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) machinery industry, general trading; engineering.
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 500,000.00 |
MYR 500,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. NAZLINA BINTI SAIBON + |
31, JALAN SG 8/11, TAMAN SRI GOMBAK, 68100
BATU CAVES, SELANGOR, MALAYSIA. |
840725-14-5170 |
250,000.00 |
50.00 |
|
MS. FARRAH WAHIDAH BINTI NOR AINI |
34, JALAN B/M8, TAMAN BUKIT MUTIARA, 83000
BATU PAHAT, JOHOR, MALAYSIA. |
850411-01-6076 |
250,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. SITI KHADIJAH BINTI JAAFAR |
|
Address |
: |
38, JALAN PUTERI HEIGHTS 16, PUTERI
HEIGHTS, 48020 RAWANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
791204-05-5032 |
|
Date of Birth |
: |
04/12/1979 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/12/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. NAZLINA BINTI SAIBON |
|
Address |
: |
31, JALAN SG 8/11, TAMAN SRI GOMBAK, 68100
BATU CAVES, SELANGOR, MALAYSIA. |
|
New IC No |
: |
840725-14-5170 |
|
Date of Birth |
: |
25/07/1984 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/07/2011 |
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. FITRU AZHANI NUBLI BIN MUHAMMAD |
|
IC / PP No |
: |
A3486667 |
|
|
New IC No |
: |
760925-11-5259 |
|
|
Address |
: |
38, JALAN PUTERI HEIGHTS 16, PUTERI HEIGHTS, 48020 RAWANG, SELANGOR, MALAYSIA. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
CLIENTELE
|
No data found in our databank.
OPERATIONS
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) machinery industry,
general trading; engineering.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
60 3 21812004 |
|
Current Telephone Number |
: |
0132998300 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
22-02 PLAZA 138 JALAN AMPANG 50450 KUALA
LUMPUNR |
|
Current Address |
: |
N/A |
|
Match |
: |
N/A |
|
Latest Financial Accounts |
: |
NO |
|
|
||
Other
Investigations
We were unable to contact the Subject and its Directors.
We contacted the Subject's Company Secretary and according to her they had lost
contact with the Subject one year ago and that the Subject owed them
secretarial fees.
The contact number provided at 60 3 21812004 belongs to residential not related
with the Subject.
The address provided belongs to the Subject's former location.
FINANCIAL
ANALYSIS
|
|
|
|
No latest financial accounts are available
at the Registry Office, thus we are not able to comment on the Subject's
financial performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic
Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic
Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private
Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public
Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.3 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
3.0 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
3.50 |
2.20 |
- |
- |
- |
|
Average 3 Months
of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
- |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of
New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
- |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
- |
- |
|
Liquidation of
Companies ( No. ) |
132,485 |
17,092 |
26,430 |
- |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
- |
- |
|
Registration of
New Business ( No. ) |
284,598 |
324,761 |
329,895 |
- |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
- |
- |
|
Business
Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
- |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
- |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
- |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( %
of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
- |
- |
|
Other Mining |
- |
- |
- |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry
Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.6 |
5.5 |
|
Exported-oriented
Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented
Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
- |
- |
|
Plastic Products |
3.8 |
- |
- |
- |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR
Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry
Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production
Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
46594 : Wholesale of industrial machinery,
equipment and supplies |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the leading manufacturer of automation machinery
and equipment (M&E) in the ASEAN region with a total of 22 companies in
production. The machinery and equipment industry has expanded and produce a
diverse range of machinery which give importance to the overall industrial
development of the country, due to its cross cutting linkages with all
industrial sectors. |
|
|
Growth of the domestic-oriented industries such as machinery and transportation
equipment is expected to remain favourable in 2014, in line with resilient
domestic consumption and robust private investment. However, the output of
general-purpose machinery decreased 8.8% in the first seven moths of 2014
(January - July 2013: -1.8%) due to the decline in manufacture of
air-conditioning machine (-17.9%) as well as lifting and handling equipment
(-8.2%). |
|
|
Besides, shipments of machinery, appliances and parts continued to
expand rapidly by 12.5% in the first seven months of 2014 (January - July
2013: 1.4%) with stronger demand from Singapore, the US, China and Australia.
Growth was mainly contributed by specialized machinery for specific
industries (16.3%), particularly for civil engineering and manufacture of
semiconductors as well as general industrial machinery and equipment (9.2%)
such as heating and cooling equipment and parts as well as mechanical
handling equipment and parts. |
|
|
According to the World Bank's Doing Business 2014 Report, Malaysia
improved to 15th from 25th position in the 2014 Foreign Direct Investment
Confidence Index, with highlighted Malaysia's efforts in building its
competitive position in electronics, automotive, and machinery manufacturing
to move up the value chain into high technology and skill-intensive segments. |
|
|
The Government has identified the M&E industry to be one of the
key areas for growth and development. The growth will focus on the
manufacture of high value-added and high technology M&E. For the further development
of the M&E industry, six strategic thrusts have been set during the Third
Industrial Master Plan (IMP3), 2006 - 2020 period:- |
|
|
- Promoting Malaysia as a regional
production, trading and distribution centre for M&E |
|
|
- Rising the development and promotion of
selected specialized and high technology M&E |
|
|
- Strengthening the engineering support
industries and support services |
|
|
- Developing Malaysian Standards for
machinery and equipment |
|
|
- Developing sufficient highly skilled workforce |
|
|
- Strengthening the institutional support
for the further development of the industry |
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.94 |
|
|
1 |
Rs. 98.63 |
|
Euro |
1 |
Rs. 69.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.