|
Report No. : |
347608 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DXN HOLDINGS BHD. |
|
|
|
|
Formerly Known As : |
DXN HOLDINGS SDN BHD |
|
|
|
|
Registered Office : |
Suite 16-1, (Penthouse Upper), Menara Penang Garden, 42A, Jalan Sultan Ahmad Shah, 10050 Pulau Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
11.10.1995 |
|
|
|
|
Com. Reg. No.: |
363120-V |
|
|
|
|
Legal Form : |
Public |
|
|
|
|
Line of Business : |
Investment Holding Activities and Provision of Management
Services. |
|
|
|
|
No. of Employees : |
Not Available |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.
The NAJIB administration 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. Gross exports of goods and services constitute more than 80% of GDP. The oil and gas sector supplied about 29% of government revenue in 2014. 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 trying to lessen its dependence on state oil producer Petronas.
Bank Negara Malaysia (the central bank) maintains healthy foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. In order to attract increased investment, NAJIB 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 a
|
Source
: CIA |
|
REGISTRATION
NO. |
: |
363120-V |
||||
|
COMPANY
NAME |
: |
DXN
HOLDINGS BHD. |
||||
|
FORMER
NAME |
: |
DXN
HOLDINGS SDN BHD (16/07/2002) |
||||
|
INCORPORATION
DATE |
: |
11/10/1995 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PUBLIC |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
SUITE
16-1, (PENTHOUSE UPPER), MENARA PENANG GARDEN, 42A, JALAN SULTAN AHMAD SHAH,
10050 PULAU PINANG, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
WISMA
DXN NO 213 LEBUHRAYA SULTAN ABDUL HALIM, 05400 ALOR SETAR, KEDAH, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-7726688 |
||||
|
FAX.NO. |
: |
04-77253388 |
||||
|
WEB
SITE |
: |
WWW.DXNMALAYSIA.COM |
||||
|
CONTACT
PERSON |
: |
LIM
SIOW JIN ( CHAIRMAN ) |
||||
|
INDUSTRY
CODE |
: |
64200
|
||||
|
PRINCIPAL
ACTIVITY |
: |
INVESTMENT
HOLDING ACTIVITIES AND PROVISION OF MANAGEMENT SERVICES |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
100,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
60,191,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
311,692,395 [2014] |
||||
|
NET
WORTH |
: |
MYR
147,052,185 [2014] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
||||
HISTORY/
BACKGROUND
|
As a public limited company, the Subject must
have at least one shareholder but there is no limit on the maximum number of
shareholders. The Subject must have at least two directors. A public 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, suing
or be sued by other companies. The liabilities of the shareholders are only up
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 must file in its annual return,
together with its financial statements with the Registrar of Companies. In
Malaysia, all the companies seeking listing on the Bursa Malaysia (Malaysia
Stock Exchange) must be public limited companies.
The
Subject is principally engaged in the (as a / as an) investment holding
activities and provision of management services.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
28/08/2014 |
MYR
100,000,000.00 |
MYR
60,191,000.00 |
|
15/02/2005 |
MYR
100,000,000.00 |
MYR
60,185,000.00 |
|
11/01/2005 |
MYR
100,000,000.00 |
MYR
60,180,500.00 |
|
09/12/2004 |
MYR
100,000,000.00 |
MYR
60,171,000.00 |
|
03/11/2004 |
MYR
100,000,000.00 |
MYR
60,156,250.00 |
|
12/10/2004 |
MYR
100,000,000.00 |
MYR
60,137,000.00 |
|
08/09/2004 |
MYR
100,000,000.00 |
MYR
60,125,750.00 |
|
25/03/2004 |
MYR
100,000,000.00 |
MYR
60,086,750.00 |
|
17/09/2003 |
MYR
100,000,000.00 |
MYR
60,000,000.00 |
|
18/08/2003 |
MYR
100,000,000.00 |
MYR
57,500,000.00 |
|
31/07/2003 |
MYR
100,000,000.00 |
MYR
35,167,250.00 |
|
12/07/2002 |
MYR
500,000.00 |
MYR
375,000.00 |
|
31/10/1995 |
MYR
100,000.00 |
MYR
2.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
DXN
GLOBAL SDN. BHD. |
68,
KOMPLEKS ALOR MALAI, BATU 8, JALAN LANGGAR, 05460 ALOR SETAR, KEDAH,
MALAYSIA. |
947791U |
240,764,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
240,764,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
A.A.
ANTHONY SECURITIES SDN. BHD. |
MALAYSIA |
17812U |
1,400,000.00 |
12/10/2012 |
|
A.A.ANTHONY
NOMINESS (TEMPATAN) SDN.BHD |
MALAYSIA |
178034D |
32,058,700.00 |
12/10/2012 |
|
ACE
JERNEH INSURANCE BERHAD |
MALAYSIA |
9827A |
N/A |
28/09/2010 |
|
ALLIANCEGROUP
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
42234H |
N/A |
14/11/2007 |
|
AMANAH
RAYA BERHAD |
MALAYSIA |
344986V |
1,200,000.00 |
15/10/2009 |
|
CIMSEC
NOMINEES (TEMPATAN) SDN. BHD. |
N/A |
265449P |
1,445,600.00 |
12/10/2012 |
|
DXN
GROUP SDN. BHD. |
MALAYSIA |
511681X |
103,878,300.00 |
12/10/2012 |
|
DXN
HOLDINGS BHD. |
MALAYSIA |
363120V |
13,547,100.00 |
12/10/2012 |
|
ECML
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
938T |
N/A |
03/10/2011 |
|
FUSION
EXTRAS SDN. BHD. |
MALAYSIA |
630656K |
11,519,300.00 |
21/09/2006 |
|
GELOMBANG
JASA SDN. BHD. |
MALAYSIA |
244731A |
N/A |
14/11/2007 |
|
GOH
KEAN CHUAN |
MALAYSIA |
630206-02-5593 |
N/A |
21/09/2006 |
|
GOLDEN
FRESH SDN. BHD. |
MALAYSIA |
139091P |
N/A |
12/10/2012 |
|
GOOI
SOON LEE |
MALAYSIA |
510329-07-5439 |
N/A |
12/10/2012 |
|
HLB
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
47697U |
N/A |
03/10/2011 |
|
HLIB
NOMINEE (TEMPATAN ) SDN. BHD. |
MALAYSIA |
250650T |
936,700.00 |
12/10/2012 |
|
HSBC
NOMINEES (ASING) SDN. BHD. |
N/A |
4381U |
N/A |
21/09/2006 |
|
HSBC
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
258854D |
N/A |
03/10/2011 |
|
KHOR
LIANG MENG |
MALAYSIA |
650122-02-5535 |
N/A |
03/10/2011 |
|
LAKSHMANAN
SUNIL KUMAR PANDARATHIL |
N/A |
Z1793346 |
N/A |
15/10/2009 |
|
LEMBAGA
TABUNG ANGKATAN TENTERA |
N/A |
AX000000001 |
10,100,000.00 |
14/11/2007 |
|
LEMBAGA
TABUNG HAJI |
MALAYSIA |
000000002H |
N/A |
21/11/2007 |
|
LIM
KHUAN ENG |
MALAYSIA |
420329-08-5697 |
N/A |
12/10/2012 |
|
LIM
SOON AIK |
MALAYSIA |
760428-10-5199 |
N/A |
12/10/2012 |
|
LIM
YAN POK |
MALAYSIA |
590303-10-6615 |
N/A |
28/09/2010 |
|
LOH
OON LING |
MALAYSIA |
740831-07-5390 |
2,246,000.00 |
12/10/2012 |
|
MALAYSIA
NOMINEES (TEMPATAN) SENDIRIAN BERHAD |
MALAYSIA |
6193K |
10,040,600.00 |
19/09/2008 |
|
MATHEW
PURACKAL KUNCHERIA |
N/A |
Z031470 |
N/A |
15/10/2009 |
|
MAYBANK
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
258939H |
1,777,100.00 |
12/10/2012 |
|
MAYBANK
SECURITIES NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
284597P |
N/A |
17/05/2006 |
|
MEDIA
ZONE SDN. BHD. |
MALAYSIA |
429040A |
N/A |
14/11/2007 |
|
NG
BAN SENG |
N/A |
760420-02-5725 |
N/A |
12/10/2012 |
|
OSK
NOMINEES (ASING) SDN. BERHAD |
MALAYSIA |
257494A |
N/A |
12/10/2012 |
|
OSK
NOMINEES (TEMPATAN) SDN. BERHAD |
MALAYSIA |
6023A |
2,330,500.00 |
19/09/2008 |
|
PUBLIC
NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
6464T |
2,389,100.00 |
12/10/2012 |
|
REMAINING
SHAREHOLDERS FOR BERHAD COMPANY |
N/A |
00000001 |
53,673,770.00 |
12/10/2012 |
|
SALINA
BINTI UMAR |
MALAYSIA |
650405-01-5388 |
N/A |
12/10/2012 |
|
SOON
CHIN CHYE |
MALAYSIA |
620818-07-5365 |
N/A |
28/09/2010 |
|
TAWARIA
SDN. BHD. |
MALAYSIA |
193198M |
N/A |
28/09/2010 |
|
TEMASEK
SEJATI SDN. BHD. |
MALAYSIA |
608722W |
2,044,900.00 |
12/10/2012 |
|
TEO
TIN LUN |
MALAYSIA |
560911-08-5013 |
N/A |
03/10/2011 |
|
TIMELESS
IMAGE SDN BHD |
MALAYSIA |
677276T |
1,400,000.00 |
15/10/2009 |
|
TUNG
KOK KEOW |
MALAYSIA |
690727-07-5291 |
N/A |
03/10/2011 |
|
WOON
CHUAN KEONG |
MALAYSIA |
581007-10-5007 |
2,330,000.00 |
12/10/2012 |
|
YAP
GIH CHOY |
MALAYSIA |
790204-14-5367 |
N/A |
17/05/2006 |
|
YEO
KHEE NAM |
MALAYSIA |
430226-07-5129 |
N/A |
03/10/2011 |
|
ZURICH
INSURANCE MALAYSIA BERHAD |
MALAYSIA |
8029A |
N/A |
17/05/2006 |
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
710366A |
MALAYSIA |
DXN
OLEOCHEMICALS SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
720684D |
MALAYSIA |
DXN
BIOFUELS SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
715786K |
MALAYSIA |
DXN
CAFE SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
716706H |
MALAYSIA |
ECO
TANK SDN. BHD. |
Disolved |
100.00 |
26/11/2014 |
|
424601A |
MALAYSIA |
DXN
SOLUTIONS SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
668231V |
MALAYSIA |
DXN
BIOTECH CONSULTANTS SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
499781V |
MALAYSIA |
DXN
R & D SDN. BHD. |
Disolved |
100.00 |
26/11/2014 |
|
511682W |
MALAYSIA |
DXN
E-COMMERCE SDN. BHD. |
Disolved |
100.00 |
26/11/2014 |
|
1030399T |
MALAYSIA |
DXN
GREEN TECH SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
541806A |
MALAYSIA |
DXN
MATERIALS SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
365963W |
MALAYSIA |
DXN
PLANTATION SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
283904P |
MALAYSIA |
DXN
MARKETING SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
469018D |
MALAYSIA |
DXN
LAND SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
1068606W |
MALAYSIA |
BIO
SYNERGY LABORATORIES SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
410731D |
MALAYSIA |
DXN
INDUSTRIES (M) SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
410692K |
MALAYSIA |
DXN
PHARMACEUTICAL SDN. BHD. |
- |
100.00 |
26/11/2014 |
|
769836D |
MALAYSIA |
BORNEO
BIO BEST (SABAH) SDN. BHD. |
Disolved |
65.00 |
26/11/2014 |
|
1087906D |
MALAYSIA |
DXN
ENZYME SDN. BHD. |
- |
51.00 |
26/11/2014 |
|
1094640X |
MALAYSIA |
DXN
BUSANA PROBIOTICS SDN. BHD. |
- |
51.00 |
26/11/2014 |
|
743972T |
MALAYSIA |
YIKED-DXN
STARGATE SDN. BHD. |
- |
13.45 |
26/11/2014 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MS.
LIM YEW LIN |
|
Address |
: |
2028,
TAMAN BAHAGIA FASA III, 05050 ALOR SETAR, KEDAH, MALAYSIA. |
|
IC
/ PP No |
: |
A0806231 |
|
New
IC No |
: |
670906-02-5160 |
|
Date
of Birth |
: |
06/09/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
21/02/2002 |
DIRECTOR
2
|
Name
Of Subject |
: |
DATO'
DR LIM SIOW JIN |
|
Address |
: |
2807,
TAMAN GOLF, JALAN SULTANAH, 05250 ALOR SETAR, KEDAH, MALAYSIA. |
|
IC
/ PP No |
: |
5946044 |
|
New
IC No |
: |
600430-02-5259 |
|
Date
of Birth |
: |
30/04/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
03/04/1996 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
LIM BOON YEE |
|
Address |
: |
79,
TAMAN GUNUNG INDAH, LEBUHRAYA SULTANAH BAHIYAH, 05050 ALOR SETAR, KEDAH,
MALAYSIA. |
|
IC
/ PP No |
: |
7162763 |
|
New
IC No |
: |
630930-02-5797 |
|
Date
of Birth |
: |
30/09/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
22/11/1998 |
DIRECTOR
4
|
Name
Of Subject |
: |
DATIN
LEONG BEE LING |
|
Address |
: |
2807,
TAMAN GOLF, JALAN SULTANAH, 05250 ALOR SETAR, KEDAH, MALAYSIA. |
|
IC
/ PP No |
: |
5135557 |
|
New
IC No |
: |
570401-02-6776 |
|
Date
of Birth |
: |
01/04/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
03/04/1996 |
DIRECTOR
5
|
Name
Of Subject |
: |
MR.
TAN YOUNG TAT |
|
Address |
: |
176,
TAMAN LAGUNA MAS, JALAN ALOR MENGKUDU, 05400 ALOR SETAR, KEDAH, MALAYSIA. |
|
IC
/ PP No |
: |
A1881164 |
|
New
IC No |
: |
710602-02-5245 |
|
Date
of Birth |
: |
02/06/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/08/2015 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
LIM
BOON YEE |
|
Position |
: |
MANAGING
DIRECTOR |
|
|
2)
|
Name
of Subject |
: |
LIM
SIOW JIN |
|
Position |
: |
CHAIRMAN |
AUDITOR
|
|
Auditor |
: |
KPMG |
|
Auditor'
Address |
: |
HUNZA
TOWER, 163E, JALAN KELAWAI, LEVEL 18, 10250 GEORGETOWN, PULAU PINANG,
MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MS.
TAI YIT CHAN |
|
IC
/ PP No |
: |
A1167797 |
|
|
New
IC No |
: |
690118-10-6160 |
|
|
Address |
: |
56,
JALAN SS 22/29, DAMANSARA JAYA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
2)
|
Company
Secretary |
: |
MS.
ONG TZE-EN |
|
IC
/ PP No |
: |
A2054637 |
|
|
New
IC No |
: |
720313-07-5210 |
|
|
Address |
: |
VILLA
BATU BUKIT, 7-2-1, JALAN BATU BUKIT, 10470 PULAU PINANG, PULAU PINANG,
MALAYSIA. |
|
|
3)
|
Company
Secretary |
: |
MS.
LIM BENG CHENG |
|
IC
/ PP No |
: |
A3286374 |
|
|
New
IC No |
: |
760406-02-5016 |
|
|
Address |
: |
WISMA
DXN, 213, LEBUHRAYA SULTAN ABDUL HALIM, 05400 ALOR SETAR, KEDAH, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
25/02/1999 |
N/A |
UNITED
OVERSEAS BANK MALAYSIA BHD |
MYR
300,554.00 |
Satisfied |
|
2 |
17/06/1999 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
515,327.00 |
Satisfied |
|
3 |
01/02/2000 |
N/A |
OCBC
BANK MALAYSIA BERHAD |
MYR
1,100,000.00 |
Satisfied |
|
4 |
24/09/2001 |
N/A |
OVERSEAS
UNION BANK MALAYSIA BERHAD |
MYR
2,300,000.00 |
Satisfied |
|
5 |
08/03/2004 |
N/A |
MALAYAN
BANKING BERHAD |
MYR
300,000.00 |
Satisfied |
|
6 |
06/07/2004 |
N/A |
OCBC
BANK MALAYSIA BERHAD |
MYR
3,500,000.00 |
Satisfied |
|
7 |
25/08/2004 |
N/A |
PUBLIC
BANK BERHAD |
MYR
1,062,500.00 |
Satisfied |
|
8 |
03/03/2006 |
N/A |
OCBC
BANK (MALAYSIA) BERHAD |
MYR
18,050,000.00 |
Satisfied |
|
9 |
16/01/2007 |
N/A |
OCBC
BANK (MALAYSIA) BERHAD |
- |
Satisfied |
|
10 |
16/12/2010 |
LAND
CHARGE |
OCBC
BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
11 |
06/05/2015 |
DEED
OF ASSIGNMENT |
OCBC
BANK (MALAYSIA) BERHAD |
- |
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 |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
INVESTMENT
HOLDING ACTIVITIES AND PROVISION OF MANAGEMENT SERVICES |
||
|
Product
Brand Name |
: |
|
||
|
Award |
: |
1
) ASIA PACIFIC SUPER EXCELLENT BRAND AWARD Year :2005 |
||
|
Member(s)
/ Affiliate(s) |
: |
SMI
ASSOCIATION OF MALAYSIA SMALL
& MEDIUM ENTERPRISE MALAYSIA
FOOD & BEVERAGE INDUSTRY |
||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) investment holding activities
and provision of management services.
The Group's product lines include dietary supplements, food and beverages,
personal care products, household products and water treatment system.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
604
7723388/6688 |
|
Current
Telephone Number |
: |
04-7726688 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
NO
213 LEBUHRAYA SULTAN ABDUL HALIM 05400 ALOR STAR KEDAH DARUL |
|
Current
Address |
: |
WISMA
DXN NO 213 LEBUHRAYA SULTAN ABDUL HALIM, 05400 ALOR SETAR, KEDAH, MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees.
The Adders Provided is Incorrect.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
37.86% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
52.84% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
90
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
28
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
6
Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. 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 |
: |
Acceptable |
[ |
0.82
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.16
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
59.03
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.54
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. The Subject was lowly geared thus it
had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. 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. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
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 |
3.2 |
4.0 |
|
Unemployment
Rate |
3.3 |
3.2 |
3.0 |
2.9 |
3.0 |
|
Net
International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
4.00 |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
6.85 |
- |
|
Business
Loans Disbursed( % ) |
15.3 |
32.2 |
- |
56.0 |
- |
|
Foreign
Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
43,486.6 |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
49,144 |
- |
|
Registration
of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
6.1 |
- |
|
Liquidation
of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
21,753 |
- |
|
Liquidation
of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
(17.7) |
- |
|
Registration
of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
332,723 |
- |
|
Registration
of New Business ( % ) |
5.0 |
14.0 |
2.0 |
1.0 |
- |
|
Business
Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
21,436 |
- |
|
Business
Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
18.0 |
- |
|
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 |
63.2 |
- |
|
Credit
Cards Spending ( % ) |
15.6 |
12.6 |
- |
13.5 |
- |
|
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) |
- |
- |
3.0 |
- |
|
Other
Mining |
- |
- |
- |
46.6 |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
%
of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing
# |
4.7 |
4.8 |
3.4 |
6.4 |
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 |
1.4 |
- |
|
Plastic
Products |
3.8 |
- |
- |
2.7 |
- |
|
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 |
- |
- |
13.0 |
- |
|
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 |
|
|
64200
: Activities of investment holding companies |
|
|
INDUSTRY
: |
ECONOMY |
|
In
2014, the economy is projected to grow 5.5% - 6% (2013: 4.7%), which is
higher than the initial forecast of 4.5% - 5.5% in early 2014. Growth was
supported by resilient domestic demand and reinforced by higher exports. The
faster pace of recovery, particularly in the US, UK and selected euro area
economies as well as moderate growth in the emerging economies provided
strong support to the Malaysian export oriented industries and trade-related
services. Consequently, gross exports rebounded strongly by 10.7% during the
first seven months of 2014 from a contraction of 2.8% in the corresponding
period in 2013. Furthermore, the economy growth of Malaysia in 2015 is
expected to be 5%-6% driven by improving external demand, resilient domestic
economic activity, and government infra- structure projects. The spillover
and multiplier effect from government spending is crucial for economic growth
in the country. The government also aims to boost the economy by increasing
job opportunities and drive supporting industries. |
|
|
Meanwhile,
the Malaysian economy has benefited from several initiatives and reforms
taken over the years to enhance its resilience and competitiveness. The
nation's strengths include: strong macroeconomic fundamentals such as a
diversified economy, low unemployment, strong international reserves, growing
role of the private sector, and a healthy financial system to support
economic activity. |
|
|
On
the demand side, growth will be reinforced by resilient consumer spending, strong
private investment activity and improving global demand. The domestic demand
is expected to expand in 2015 at a moderate pace, underpinned by higher
investment and sustained consumption spending. Private investment is expected
to remain strong supported by increasing domestic activity, a favorable
external sector, and ongoing projects under the Economic Transformation
Programme (ETP). Private consumption is, however, expected to moderate below
its long-term average, but will continue to support growth. Household
spending is expected to moderate amid higher inflation following the
implementation of GST. Nonetheless, the impact of higher inflation on
consumption is expected to be temporary and will eventually taper off after a
few months of the GST implementation. |
|
|
On
the supply side, all economic sectors are expected to record positive in
2015, with the services and manufacturing sectors remaining the major
contribution to growth. The service sector is projected to grow by 5.6% with
all subsectors recording expansion such as wholesale trade, transport and
storage, retail trade as well as accommodation and restaurants. The
manufacturing sector is expected to grow 5.5% boosted by strong domestic and
export-oriented industries. Meanwhile, the export-oriented industries,
particularly the E&E subsector will benefit from the improvement in
external conditions in line with improving global growth. The agriculture
sector is expected to grow 3.1% by recording higher commodity production and
increase output of food commodities, while the construction sector is
expected to grow 10.7% driven by robust activity in the civil engineering
projects in the O&G sector, residential and non-residential buildings.
The mining sector is expected to grow 2.8% backed by the increase in
production of natural gas and crude oil following capacity enhancement and
new production facilities. |
|
|
Moreover,
in 2014, boosted by strong external demand for manufactured products and
stable commodity prices, exports are expected to grow 6%. Import growth will
remain resilient at 4.3% supported by continued expansion in manufacturing,
investment and consumption activities. Meanwhile, higher remittances by
foreign workers in Malaysia will see a marginally higher deficit in the
secondary income account due to the full implementation of the Minimum Wage
Policy effective from January 2014. Furthermore, Malaysia's external position
is expected to remain strong in 2015 with improve prospects for external
environment, upturn in global semiconductor sales, as well as resilient
domestic and regional demand. Gross exports are expected to increase 3.2%
spurred by higher demand for manufactured products, in particular E&E,
and steady demand for commodities. Gross import are, however, projected to
grow at a faster pace of 5.3% boosted by higher demand for intermediate
inputs and broad-based capital spending, particularly in the manufacturing
and services sectors as well as ongoing implementation of infrastructure
projects. Higher investment activity across major sectors by the
Non-Financial Public Enterprises (NFPEs) is also expected to contribute to
import growth. |
|
|
In
2015, inflation is expected to increase 4-5%, largely due to the implementation
of Goods and Services Tax (GST), spillover effect of fuel subsidy reduction,
and electricity tariff hike in January 2014. This inflation expectation
further heightens the possibility of more Overnight Policy Rate (OPR) hikes,
following the 25 basis points hike in July 2014. Given the subdued external
cost pressure, domestic cost remains the major factor that drives inflation
in 2015. The implementation of the GST will have a transitory impact on the
cost of goods and services. However, the strong capacity expansion over the
past years will help to mitigate the cost pressures, while a more cautious
stance of consumers would also contribute to moderating demand and hence
prevent inflation from becoming more entrenched. |
|
|
On
the other hand, Gross National Income (GNI) in 2015 is expected to expand
further by 9.4% (2014: 10.2%) following continued growth in the domestic
economy. With total consumption spending in nominal terms expected to
increase 9.2%, the Gross National Savings (GNS) is projected to expand 9.8%
(2014: 14.5%). Consequently, the share of GNS and GNI is expected to increase
to 32.5% (2014: 32.4%). However, in line with the better economic growth,
national income as measured by the nominal GNI, is estimated to expand 10.2%
to RM1,049.5 billion in 2014, surpassing for the first time, the RM1-trillion
mark. Other than that, nominal GNI per capita is expected to increase 8.1% to
RM37,486 in 2015 (2014: 8.9%, RM34,682). In terms of Purchasing Power Parity
(PPP), per capital income is expected to increase 2.4% to USD 23,512 in 2015
(2014: 2.2%, USD 22,958). |
|
|
Under
budget 2015, the government targets to bring down the budget deficit to -3%
of GDP by 2015. The initiations of subsidy rationalization and Goods and
Services Tax (GST) in April 2015 are crucial steps towards fiscal
consolidation. |
|
|
OVERALL
INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
DXN
HOLDINGS BHD. |
|
Financial
Year End |
2014-02-28 |
2013-02-28 |
2012-02-29 |
2011-02-28 |
2010-02-28 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
311,692,395 |
269,121,474 |
268,555,598 |
279,339,100 |
259,917,403 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
311,692,395 |
269,121,474 |
268,555,598 |
279,339,100 |
259,917,403 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
77,113,772 |
54,428,626 |
59,086,703 |
54,604,076 |
36,999,629 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
77,113,772 |
54,428,626 |
59,086,703 |
54,604,076 |
36,999,629 |
|
Taxation |
(20,340,953) |
(11,871,516) |
(13,575,892) |
(12,778,330) |
(8,576,041) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
56,772,819 |
42,557,110 |
45,510,811 |
41,825,746 |
28,423,588 |
|
Minority
interests |
(1,101,168) |
(848,960) |
(847,646) |
(363,084) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
55,671,651 |
41,708,150 |
44,663,165 |
41,462,662 |
28,423,588 |
|
Extraordinary
items |
- |
- |
- |
88,764 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
55,671,651 |
41,708,150 |
44,663,165 |
41,551,426 |
28,423,588 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
177,968,995 |
194,821,254 |
169,873,725 |
145,485,595 |
123,923,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
177,968,995 |
194,821,254 |
169,873,725 |
145,485,595 |
123,923,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
233,640,646 |
236,529,404 |
214,536,890 |
187,037,021 |
152,347,411 |
|
TRANSFER
TO RESERVES - General |
- |
(8,930,349) |
- |
- |
- |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(137,500,000) |
(49,630,060) |
(19,715,636) |
(17,163,296) |
(6,861,816) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
96,140,646 |
177,968,995 |
194,821,254 |
169,873,725 |
145,485,595 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
16 |
5 |
2,050 |
3,333 |
5,659 |
|
Bankers'
acceptance |
1,105,661 |
29,500 |
82,846 |
- |
- |
|
Lease
interest |
38,428 |
66,322 |
78,315 |
61,543 |
151,701 |
|
Revolving
loans |
- |
- |
- |
162,490 |
196,895 |
|
Term
loan / Borrowing |
149,969 |
454,967 |
233,799 |
605,177 |
4,575,341 |
|
Others |
34,856 |
27,699 |
74,434 |
20,225 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,328,930 |
578,493 |
471,444 |
852,768 |
4,929,596 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
6,720,633 |
7,152,720 |
7,259,063 |
372,816 |
409,227 |
|
AMORTIZATION |
247,905 |
575,076 |
680,535 |
270,855 |
314,400 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,968,538 |
7,727,796 |
7,939,598 |
643,671 |
723,627 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
DXN
HOLDINGS BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
68,922,884 |
70,965,411 |
69,695,744 |
83,595,352 |
85,907,135 |
|
Associated
companies |
- |
- |
- |
- |
1,890,181 |
|
Development
properties/expenditure |
30,967,755 |
5,042,955 |
7,378,458 |
7,378,458 |
7,769,615 |
|
Investment
properties |
18,266,395 |
31,393,510 |
32,565,634 |
22,284,855 |
7,612,750 |
|
Investments |
- |
- |
- |
350,000 |
850,000 |
|
Deferred
assets |
5,090,142 |
3,469,685 |
2,812,902 |
1,650,525 |
3,179,918 |
|
Others |
60,371 |
167,854 |
666,390 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
54,384,663 |
40,074,004 |
43,423,384 |
31,663,838 |
21,302,464 |
|
INTANGIBLE
ASSETS |
|||||
|
Deferred/Expenditure
carried forward |
- |
- |
- |
8,331,202 |
11,762,940 |
|
Computer
software |
224,278 |
703,909 |
740,804 |
- |
- |
|
Intellectual
property and license rights |
3,907,725 |
6,011,885 |
6,011,885 |
- |
- |
|
Others |
- |
- |
33,717 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
4,132,003 |
6,715,794 |
6,786,406 |
8,331,202 |
11,762,940 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
127,439,550 |
117,755,209 |
119,905,534 |
123,590,392 |
118,972,539 |
|
CURRENT
ASSETS |
|||||
|
CA
Development properties/expenditure |
- |
28,236,783 |
30,530,899 |
30,264,002 |
60,988,049 |
|
Stocks |
43,944,888 |
39,449,185 |
44,938,046 |
49,386,962 |
33,302,305 |
|
Contract
work-in-progress |
2,190,792 |
2,223,993 |
- |
- |
- |
|
Trade
debtors |
23,745,647 |
28,468,979 |
27,317,862 |
19,048,291 |
27,898,674 |
|
Other
debtors, deposits & prepayments |
17,457,472 |
18,551,439 |
17,716,726 |
23,094,832 |
23,562,654 |
|
Short
term deposits |
9,101,974 |
2,812,346 |
6,199,516 |
5,376,227 |
5,924,346 |
|
Deposits
with financial institutions |
2,079,728 |
1,644,128 |
3,533,286 |
4,378,741 |
- |
|
Cash
& bank balances |
49,162,291 |
44,824,587 |
36,227,668 |
31,858,729 |
36,541,362 |
|
Others |
4,335,899 |
6,476,685 |
5,351,250 |
5,851,231 |
5,839,185 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
152,018,691 |
172,688,125 |
171,815,253 |
169,259,015 |
194,056,575 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
279,458,241 |
290,443,334 |
291,720,787 |
292,849,407 |
313,029,114 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
4,753,106 |
4,193,129 |
3,502,970 |
5,984,919 |
7,959,517 |
|
Other
creditors & accruals |
45,049,920 |
37,596,133 |
31,798,075 |
35,278,988 |
25,085,163 |
|
Hire
purchase & lease creditors |
152,809 |
502,597 |
682,428 |
409,473 |
413,515 |
|
Bank
overdraft |
- |
- |
97,712 |
23,815 |
4,447,222 |
|
Short
term borrowings/Term loans |
259,720 |
3,745,914 |
8,040,946 |
8,147,175 |
59,128,491 |
|
Other
borrowings |
77,550,080 |
9,571,080 |
740,654 |
- |
2,000,000 |
|
Bill
& acceptances payable |
- |
- |
- |
- |
2,537,000 |
|
Amounts
owing to director |
80,009 |
38,923 |
34,637 |
- |
- |
|
Provision
for taxation |
3,163,910 |
1,182,555 |
1,866,461 |
2,732,264 |
3,681,750 |
|
Other
liabilities |
- |
- |
- |
5,310,302 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
131,009,554 |
56,830,331 |
46,763,883 |
57,886,936 |
105,252,658 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
21,009,137 |
115,857,794 |
125,051,370 |
111,372,079 |
88,803,917 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
148,448,687 |
233,613,003 |
244,956,904 |
234,962,471 |
207,776,456 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
|
RESERVES |
|||||
|
Share
premium |
- |
- |
1,779,620 |
1,779,620 |
1,779,620 |
|
Exchange
equalisation/fluctuation reserve |
(11,958,933) |
(10,701,873) |
(10,531,340) |
- |
- |
|
General
reserve |
- |
- |
(10,709,969) |
- |
- |
|
Retained
profit/(loss) carried forward |
96,140,646 |
177,968,995 |
194,821,254 |
169,873,725 |
145,485,595 |
|
Others |
- |
- |
- |
(16,444,496) |
(11,269,969) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
84,181,713 |
167,267,122 |
175,359,565 |
155,208,849 |
135,995,246 |
|
MINORITY
INTEREST |
2,679,472 |
2,551,291 |
2,603,956 |
3,049,877 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
147,052,185 |
230,009,413 |
238,154,521 |
218,449,726 |
196,186,246 |
|
Long
term loans |
1,062,418 |
2,998,813 |
6,129,090 |
15,548,349 |
10,668,635 |
|
Lease
obligations |
174,837 |
328,040 |
629,193 |
518,290 |
669,695 |
|
Deferred
taxation |
159,247 |
276,737 |
44,100 |
446,106 |
251,880 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
1,396,502 |
3,603,590 |
6,802,383 |
16,512,745 |
11,590,210 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
148,448,687 |
233,613,003 |
244,956,904 |
234,962,471 |
207,776,456 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
DXN
HOLDINGS BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
58,264,265 |
47,636,933 |
42,427,184 |
37,234,956 |
42,465,708 |
|
Net
Liquid Funds |
58,264,265 |
47,636,933 |
42,329,472 |
37,211,141 |
35,481,486 |
|
Net
Liquid Assets |
(22,935,751) |
76,408,609 |
80,113,324 |
61,985,117 |
55,501,612 |
|
Net
Current Assets/(Liabilities) |
21,009,137 |
115,857,794 |
125,051,370 |
111,372,079 |
88,803,917 |
|
Net
Tangible Assets |
144,316,684 |
226,897,209 |
238,170,498 |
226,631,269 |
196,013,516 |
|
Net
Monetary Assets |
(24,332,253) |
72,805,019 |
73,310,941 |
45,472,372 |
43,911,402 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
78,442,702 |
55,007,119 |
59,558,147 |
55,456,844 |
41,929,225 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
85,411,240 |
62,734,915 |
67,497,745 |
56,100,515 |
42,652,852 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
79,199,864 |
17,146,444 |
16,320,023 |
24,809,592 |
80,061,453 |
|
Total
Liabilities |
132,406,056 |
60,433,921 |
53,566,266 |
74,399,681 |
116,842,868 |
|
Total
Assets |
279,458,241 |
290,443,334 |
291,720,787 |
292,849,407 |
313,029,114 |
|
Net
Assets |
148,448,687 |
233,613,003 |
244,956,904 |
234,962,471 |
207,776,456 |
|
Net
Assets Backing |
147,052,185 |
230,009,413 |
238,154,521 |
218,449,726 |
196,186,246 |
|
Shareholders'
Funds |
147,052,185 |
230,009,413 |
238,154,521 |
218,449,726 |
196,186,246 |
|
Total
Share Capital |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
60,191,000 |
|
Total
Reserves |
84,181,713 |
167,267,122 |
175,359,565 |
155,208,849 |
135,995,246 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.44 |
0.84 |
0.91 |
0.64 |
0.40 |
|
Liquid
Ratio |
0.82 |
2.34 |
2.71 |
2.07 |
1.53 |
|
Current
Ratio |
1.16 |
3.04 |
3.67 |
2.92 |
1.84 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
90 |
63 |
71 |
74 |
58 |
|
Debtors
Ratio |
28 |
39 |
37 |
25 |
39 |
|
Creditors
Ratio |
6 |
6 |
5 |
8 |
11 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.54 |
0.07 |
0.07 |
0.11 |
0.41 |
|
Liabilities
Ratio |
0.90 |
0.26 |
0.22 |
0.34 |
0.60 |
|
Times
Interest Earned Ratio |
59.03 |
95.09 |
126.33 |
65.03 |
8.51 |
|
Assets
Backing Ratio |
2.40 |
3.77 |
3.96 |
3.77 |
3.26 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
24.74 |
20.22 |
22.00 |
19.55 |
14.24 |
|
Net
Profit Margin |
17.86 |
15.50 |
16.63 |
14.84 |
10.94 |
|
Return
On Net Assets |
52.84 |
23.55 |
24.31 |
23.60 |
20.18 |
|
Return
On Capital Employed |
50.47 |
22.60 |
23.34 |
22.46 |
18.67 |
|
Return
On Shareholders' Funds/Equity |
37.86 |
18.13 |
18.75 |
18.98 |
14.49 |
|
Dividend
Pay Out Ratio (Times) |
2.47 |
1.19 |
0.44 |
0.41 |
0.24 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.