|
Report No. : |
351712 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KSS LIPIDS (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 23-05, Menara Zurich, 15, Jalan Dato Abdullah
Tahir, 23rd Floor, 80300 Johor Bahru, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
03.04.2009 |
|
|
|
|
Com. Reg. No.: |
852188-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading in various types of vegetable and
non-vegetable oils and fats. |
|
|
|
|
No. of Employee : |
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 agreement
negotiations and, with the nine other ASEAN members, will form the ASEAN
Economic Community in 2015.
|
Source
: CIA |
|
REGISTRATION
NO. |
: |
852188-X |
||||
|
COMPANY NAME |
: |
KSS LIPIDS (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
03/04/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
SUITE 23-05,
MENARA ZURICH, 15, JALAN DATO ABDULLAH TAHIR, 23RD FLOOR, 80300 JOHOR BAHRU, JOHOR,
MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
3-05 MENARA
ZURICH, 15 JALAN DATO ABDULLAH TAHIR, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-3322846 |
||||
|
FAX.NO. |
: |
07-3341559 |
||||
|
WEB SITE |
: |
WWW.KSSGROUP.ORG |
||||
|
CONTACT PERSON |
: |
VIVEKANAND KEJRIWAL
( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING IN
VARIOUS TYPES OF VEGETABLE AND NON-VEGETABLE OILS AND FATS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR 500,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
MYR 500,000.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 3,706,779
[2014] |
||||
|
NET WORTH |
: |
MYR 501,648 [2014] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY
EXPOSURE |
: |
N/A |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) trading in various types of vegetable and non-vegetable oils and
fats.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/09/2014 |
MYR 500,000.00 |
MYR 500,000.00 |
|
15/02/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
17/11/2009 |
MYR 100,000.00 |
MYR 6,503.00 |
|
03/04/2009 |
MYR 100,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
VIVEKANAND KEJRIWAL + |
E/9, INDUSTRIAL HOUSING ESTATE, POST OFFICE
& POLICE STATION-BUDGE BUDGE, 24, PARGANAS (SOUTH) KOLKATA, 700137, WB,
INDIA. |
H5092758 |
499,992.00 |
100.00 |
|
MR. SIVALINGHAM A/L SETHURAMAN RAKI + |
8E, JALAN BILAL, MAHMOOD, 80100 JOHOR
BAHRU, JOHOR, MALAYSIA. |
520321-14-5059 7675487 |
4.00 |
0.00 |
|
MS. ZAWIAH BINTI MOHAMED + |
26, JALAN MOHIDEEN, KOTA KECIL, 81900 KOTA
TINGGI, JOHOR, MALAYSIA. |
660326-01-6170 A0373760 |
4.00 |
0.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
880704X |
MALAYSIA |
GSS OVERSEAS (M) SDN. BHD. |
- |
40.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SIVALINGHAM A/L SETHURAMAN RAKI |
|
Address |
: |
8E, JALAN BILAL, MAHMOOD, 80100 JOHOR
BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
7675487 |
|
New IC No |
: |
520321-14-5059 |
|
Date of Birth |
: |
21/03/1952 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
03/04/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. ZAWIAH BINTI MOHAMED |
|
Address |
: |
26, JALAN MOHIDEEN, KOTA KECIL, 81900 KOTA
TINGGI, JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
- SUITE 1204, 12TH FLOOR, HOLIDAY PLAZA, JALAN
DATO SULAIMAN, 80250 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
A0373760 |
|
New IC No |
: |
660326-01-6170 |
|
Date of Birth |
: |
26/03/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
03/04/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
VIVEKANAND KEJRIWAL |
|
Address |
: |
E/9, INDUSTRIAL HOUSING ESTATE, POST OFFICE
& POLICE STATION-BUDGE BUDGE, 24, PARGANAS (SOUTH) KOLKATA, 700137, WB,
INDIA. |
|
Other Address(es) |
: |
- LOT 2955, KELAPA SAWIT, 81030 KULAI,
JOHOR, MALAYSIA. |
|
IC / PP No |
: |
H5092758 |
|
Date of Appointment |
: |
03/04/2009 |
|
1) |
Name of Subject |
: |
VIVEKANAND KEJRIWAL |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
RAKI THOMAS & RAMANAN |
|
Auditor' Address |
: |
SUITE 23.04, MENARA MAA, 15, JALAN DATO
ABDULLAH TAHIAR, 23RD FLOOR, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. ZAWIAH BINTI MOHAMED |
|
IC / PP No |
: |
A0373760 |
|
|
New IC No |
: |
660326-01-6170 |
|
|
Address |
: |
26, JALAN MOHIDEEN, KOTA KECIL, 81900 KOTA
TINGGI, JOHOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. SOHAILA BTE MAAS |
|
IC / PP No |
: |
6264023 |
|
|
New IC No |
: |
611001-01-5814 |
|
|
Address |
: |
32, JALAN PADI MAHSURI 6, BANDAR BARU UDA,
81200 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
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 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.
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
VARIOUS TYPES OF VEGETABLE AND
NON-VEGETABLE OILS AND FATS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading in various
types of vegetable and non-vegetable oils and fats.
The Subject's Strength lies in sourcing various types of vegetable oils and
fats residue.
The Subject's strength and competency is on the collection of used / waste /
residue of vegetable oil from the strategic business partners who are already
long established in the industry of food processing, oil refinery and
Oleo-chemicals industry.
The Subject is also active in the trading of edible vegetable oils, specialty
fats, soap product, fatty acid, fatty alcohol, methyl ester, bio-diesel etc.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6073322846 |
|
Current Telephone Number |
: |
07-3322846 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
23-05 MENARA ZURICH, 15 JALAN DATO ABDULLAH
TAHIR, 80300 JOHOR |
|
Current Address |
: |
3-05 MENARA ZURICH, 15 JALAN DATO ABDULLAH
TAHIR, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 25th November 2015 we contacted one of the staff from the Subject and he
provided some information.
The Subject refused to disclose its number of employees.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.83% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.82% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.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. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
As the Subject is a service oriented company,
the Subject does not need to keep stocks. 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 |
: |
Favourable |
[ |
74.26 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
74.26 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to
meet short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did
not pay any interest during the year. The Subject had no gearing and hence it
had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject recorded lower profits as its turnover
showed a erratic trend. The Subject's management was unable to control its
costs efficiently as its profit showed a downward trend. The Subject 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 did not make any
interest payment during the year. The Subject was dependent on its
shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall financial condition of the Subject
: FAIR |
||||||
|
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 |
|
|
46329 : Wholesale of other foodstuffs |
|
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
3,706,779 |
5,677,595 |
2,166,454 |
4,112,225 |
53,636 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
3,706,779 |
5,677,595 |
2,166,454 |
4,112,225 |
53,636 |
|
Costs of Goods Sold |
(3,579,569) |
(5,480,700) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
127,210 |
196,895 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
9,136 |
96,234 |
41,867 |
243,967 |
(4,108) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
9,136 |
96,234 |
41,867 |
243,967 |
(4,108) |
|
Taxation |
(4,972) |
(20,973) |
(10,741) |
(48,762) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
4,164 |
75,261 |
31,126 |
195,205 |
(4,108) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
297,484 |
222,223 |
191,097 |
(4,108) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
297,484 |
222,223 |
191,097 |
(4,108) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
301,648 |
297,484 |
222,223 |
191,097 |
(4,108) |
|
DIVIDENDS - Ordinary (paid & proposed) |
(300,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,648 |
297,484 |
222,223 |
191,097 |
(4,108) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
DEPRECIATION (as per notes to P&L) |
307 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
307 |
- |
- |
- |
- |
|
|
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
2,763 |
- |
- |
- |
- |
|
Associated companies |
- |
28,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
28,000 |
28,000 |
40,000 |
40,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,763 |
28,000 |
28,000 |
40,000 |
40,000 |
|
Trade debtors |
127,571 |
417,581 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
171 |
171 |
- |
- |
- |
|
Cash & bank balances |
371,761 |
431,408 |
- |
- |
- |
|
Others |
6,192 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
505,695 |
849,160 |
498,974 |
409,290 |
129,117 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
508,458 |
877,160 |
526,974 |
449,290 |
169,117 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
910 |
368,922 |
- |
- |
- |
|
Other creditors & accruals |
5,900 |
17,372 |
- |
- |
- |
|
Amounts owing to associated companies |
- |
66,520 |
- |
- |
- |
|
Provision for taxation |
- |
1,862 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
6,810 |
454,676 |
204,751 |
158,193 |
73,225 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
498,885 |
394,484 |
294,223 |
251,097 |
55,892 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
500,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Retained profit/(loss) carried forward |
1,648 |
297,484 |
222,223 |
191,097 |
(4,108) |
|
Others |
- |
25,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,648 |
322,484 |
222,223 |
191,097 |
(4,108) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
371,761 |
431,408 |
- |
- |
- |
|
Net Liquid Funds |
371,761 |
431,408 |
- |
- |
- |
|
Net Liquid Assets |
498,885 |
394,484 |
294,223 |
251,097 |
55,892 |
|
Net Current Assets/(Liabilities) |
498,885 |
394,484 |
294,223 |
251,097 |
55,892 |
|
Net Tangible Assets |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
Net Monetary Assets |
498,885 |
394,484 |
294,223 |
251,097 |
55,892 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
9,136 |
96,234 |
- |
- |
- |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
9,443 |
96,234 |
- |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
- |
- |
- |
|
Total Liabilities |
6,810 |
454,676 |
204,751 |
158,193 |
73,225 |
|
Total Assets |
508,458 |
877,160 |
526,974 |
449,290 |
169,117 |
|
Net Assets |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
Net Assets Backing |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
Shareholders' Funds |
501,648 |
422,484 |
322,223 |
291,097 |
95,892 |
|
Total Share Capital |
500,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
1,648 |
322,484 |
222,223 |
191,097 |
(4,108) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
54.59 |
0.95 |
- |
- |
- |
|
Liquid Ratio |
74.26 |
1.87 |
- |
- |
- |
|
Current Ratio |
74.26 |
1.87 |
2.44 |
2.59 |
1.76 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
- |
- |
- |
|
Debtors Ratio |
13 |
27 |
- |
- |
- |
|
Creditors Ratio |
0 |
25 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
- |
- |
- |
|
Liabilities Ratio |
0.01 |
1.08 |
0.64 |
0.54 |
0.76 |
|
Times Interest Earned Ratio |
0 |
0 |
- |
- |
- |
|
Assets Backing Ratio |
1.00 |
4.22 |
3.22 |
2.91 |
0.96 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.25 |
1.69 |
1.93 |
5.93 |
(7.66) |
|
Net Profit Margin |
0.11 |
1.33 |
1.44 |
4.75 |
(7.66) |
|
Return On Net Assets |
1.82 |
22.78 |
12.99 |
83.81 |
(4.28) |
|
Return On Capital Employed |
1.82 |
22.78 |
12.99 |
83.81 |
(4.28) |
|
Return On Shareholders' Funds/Equity |
0.83 |
17.81 |
9.66 |
67.06 |
(4.28) |
|
Dividend Pay Out Ratio (Times) |
72.05 |
0 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
|
MYR |
1 |
Rs.15.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ANK |
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.