|
Report No. : |
344729 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOVID BERHAD |
|
|
|
|
Formerly Known As : |
HO YAN HOR (KAUSING BRAND) MEDICAL HALL SDN BHD |
|
|
|
|
Registered Office : |
121, Jalan Tunku Abdul Rahman, 30010 Ipoh, Perak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
20.05.1980 |
|
|
|
|
Com. Reg. No.: |
58476-A |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacturing of Pharmaceutical and Herbal
Products. |
|
|
|
|
No. of Employee : |
500 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. 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. |
: |
58476-A |
||||
|
COMPANY NAME |
: |
HOVID BERHAD |
||||
|
FORMER NAME |
: |
HOVID SDN BHD (05/12/2003) |
||||
|
INCORPORATION DATE |
: |
20/05/1980 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PUBLIC |
||||
|
LISTED STATUS |
: |
YES |
||||
|
LISTED DATE |
: |
05/04/2005 |
||||
|
REGISTERED ADDRESS |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
||||
|
TEL.NO. |
: |
05-5060690 |
||||
|
FAX.NO. |
: |
05-5061215 |
||||
|
EMAIL |
: |
INFO@HOVID.COM |
||||
|
WEB SITE |
: |
WWW.HOVID.COM |
||||
|
CONTACT PERSON |
: |
DAVID HO SUE SAN ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
21 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF PHARMACEUTICAL AND HERBAL
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 76,662,890.10 DIVIDED INTO |
||||
|
SALES |
: |
MYR 183,542,000 [2014] |
||||
|
NET WORTH |
: |
MYR 166,157,000 [2014] |
||||
|
STAFF STRENGTH |
: |
500 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) manufacturing
of pharmaceutical and herbal products.
The Subject was listed on the Main Board of Bursa Malaysia Securities
Bhd on 05/04/2005
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
21/04/2015 |
MYR 200,000,000.00 |
MYR 76,662,890.10 |
|
23/09/2014 |
MYR 200,000,000.00 |
MYR 76,381,450.00 |
|
20/06/2014 |
MYR 200,000,000.00 |
MYR 76,380,700.00 |
|
18/04/2014 |
MYR 200,000,000.00 |
MYR 76,379,930.00 |
|
22/01/2014 |
MYR 200,000,000.00 |
MYR 76,229,930.00 |
|
18/12/2013 |
MYR 200,000,000.00 |
MYR 76,229,100.00 |
|
16/12/2013 |
MYR 200,000,000.00 |
MYR 76,208,000.00 |
|
15/11/2013 |
MYR 200,000,000.00 |
MYR 76,209,100.00 |
|
10/10/2012 |
MYR 200,000,000.00 |
MYR 76,208,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. HO SUE SAN @ DAVID HO SUE SAN + |
51, JALAN CHIN HWA, CHATEAU GARDEN, 30250 IPOH, PERAK, MALAYSIA. |
490920-08-5903 1391613 |
281,803,400.00 |
36.76 |
|
EB NOMINEES (TEMPATAN) SENDIRIAN BERHAD FOR PLEDGED SECURITIES ACCOUNT
FOR HO SUE SAN @ DAVID HO SU |
- |
- |
111,000,000.00 |
14.48 |
|
CIMB GROUP NOMINEES (TEMPATAN) SDN. BHD. FOR PLEDGED SECURITIES
ACCOUNT FOR HO SUE SAN @ DAVID HO S |
- |
- |
42,500,000.00 |
5.54 |
|
KUMPULAN WANG PERSARAAN DIPERBADANKAN |
- |
- |
38,569,100.00 |
5.03 |
|
AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. FOR PLEDGED SECURITIES
ACCOUNT FOR HO SUE SAN @ DAVID HO |
- |
- |
23,000,000.00 |
3.00 |
|
MR. LIONG KAM HON |
32, HALA PERAJURIT 6, TAMAN PERAK, 31400 IPOH, PERAK, MALAYSIA. |
460328-08-5165 1397410 |
7,495,360.00 |
0.98 |
|
HONG LEONG ASSURANCE BERHAD AS BENEFICIAL OWNER (UNITLINKED GF) |
- |
- |
7,019,800.00 |
0.92 |
|
HSBC NOMINEES (TEMPATAN) SDN BHD EXEMPT AN FOR SKANDINAVISKA ENSKILDA
BANKEN AB (SWEDISH CLIENTS) |
- |
- |
6,957,700.00 |
0.91 |
|
CIMSEC NOMINEES (TEMPATAN) SDN BHD FOR BANK OF SINGAPORE LTD FOR CHONG
MEE FAH @ FREDERICK CHONG |
- |
- |
6,750,000.00 |
0.88 |
|
CIMSEC NOMINEES (TEMPATAN) SDN. BHD. FOR CIMB BANK FOR GOH SIN BONG
(MP0081) |
- |
- |
6,500,000.00 |
0.85 |
|
AMANHRAYA TRUSTEES BERHAD FOR MIDF AMANAH STRATEGIC FUND |
- |
- |
6,260,000.00 |
0.82 |
|
GOLDEN FRESH SDN. BHD. |
- |
139091P |
6,013,100.00 |
0.78 |
|
CITIGROUP NOMINEES (ASING) SDN. BHD. |
- |
263875D |
5,658,300.00 |
0.74 |
|
MAYBANK SECURITIES NOMINEES (TEMPATAN) SDN. BHD. |
MAYBANLIFE TOWER, DATARAN MAYBANK, LEVEL 5, 1, JALAN MAAROF, 59000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
284597P |
5,595,900.00 |
0.73 |
|
AMSEC NOMINEES (TEMPATAN) SDN. BHD. FOR AMBANK (M) BERHAD (HEDGING) |
BANGUNAN AMBANK GROUP, 55, JALAN RAJA CHULAN, 15TH FLOOR, 50200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
102918T |
5,035,500.00 |
0.66 |
|
RHB NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
259064V |
4,955,700.00 |
0.65 |
|
KENANGA NOMINEES (TEMPATAN) SDN. BHD. |
- |
16778M |
4,194,700.00 |
0.55 |
|
REMAINING SHAREHOLDERS |
- |
- |
197,320,341.00 |
25.74 |
|
--------------- |
------ |
|||
|
766,628,901.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
71816T |
MALAYSIA |
HOVID PHARMACY SDN. BHD. |
100.00 |
26/11/2014 |
|
457587X |
MALAYSIA |
HOVID MARKETING SDN. BHD. |
100.00 |
26/11/2014 |
|
848992P |
MALAYSIA |
BEST PRACTICE INTERNATIONAL SDN. BHD. |
100.00 |
26/11/2014 |
|
714299D |
MALAYSIA |
HOVID NUTRIWORLD SDN. BHD. |
100.00 |
26/11/2014 |
|
804511M |
MALAYSIA |
HOVID RESEARCH SDN. BHD. |
100.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. YUEN KAH HAY |
|
Address |
: |
7, LORONG BATU UBAN 5, TAMAN CENTURY, 11700 GELUGOR, PULAU PINANG,
MALAYSIA. |
|
IC / PP No |
: |
4562843 |
|
New IC No |
: |
540101-07-5261 |
|
Date of Birth |
: |
01/01/1954 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
Y.M. RAJA SHAMSUL KAMAL BIN R SHAHRUZZAMAN |
|
Address |
: |
1, JALAN 4/6, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6183860 |
|
New IC No |
: |
610313-10-6665 |
|
Date of Birth |
: |
13/03/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/12/2004 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. GOH TIAN HOCK |
|
Address |
: |
15, DATARAN PERAJURIT 3, TAMAN KEMUNCAK, 31400 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
A0734434 |
|
New IC No |
: |
670428-10-6563 |
|
Date of Birth |
: |
28/04/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. CHUAH CHAW TEO |
|
Address |
: |
4, PERSIARAN 8, ARENA KEPAYANG PUTRA, FAIR PARK, 31400 IPOH, PERAK,
MALAYSIA. |
|
IC / PP No |
: |
4235455 |
|
New IC No |
: |
510828-08-5973 |
|
Date of Birth |
: |
28/08/1951 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/12/2004 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. CHIAM TAU MENG |
|
Address |
: |
4, JALAN SS20/9, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
4507124 |
|
New IC No |
: |
531028-01-6163 |
|
Date of Birth |
: |
01/01/1970 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/04/2014 |
DIRECTOR 6
|
Name Of Subject |
: |
DATO' CHE MOHD ZIN BIN CHE AWANG |
|
Address |
: |
65, JALAN SS3/53, TAMAN SUBANG, 47300 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
2760805 |
|
New IC No |
: |
490928-03-5169 |
|
Date of Birth |
: |
28/09/1949 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/03/2012 |
DIRECTOR 7
|
Name Of Subject |
: |
MR. HO SUE SAN @ DAVID HO SUE SAN |
|
Address |
: |
51, JALAN CHIN HWA, CHATEAU GARDEN, 30250 IPOH, PERAK, MALAYSIA. |
|
IC / PP No |
: |
1391613 |
|
New IC No |
: |
490920-08-5903 |
|
Date of Birth |
: |
20/09/1949 |
|
Nationality |
: |
MALAYSIAN |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DAVID HO SUE SAN |
|
Position |
: |
MANAGING DIRECTOR |
AUDITOR
|
|
Auditor |
: |
SJ GRANT THORNTON |
|
Auditor' Address |
: |
SHERATON IMPERIAL COURT, JALAN SULTAN ISMAIL, LEVEL 11, 50250 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. NG YUET SEAM |
|
IC / PP No |
: |
A0930116 |
|
|
New IC No |
: |
671205-08-5392 |
|
|
Address |
: |
1, LORONG EVERGREEN, TAMAN BUNGA RAYA, 31650 IPOH, PERAK, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. GOH TIAN HOCK |
|
IC / PP No |
: |
A0734434 |
|
|
New IC No |
: |
670428-10-6563 |
|
|
Address |
: |
15, DATARAN PERAJURIT 3, TAMAN KEMUNCAK, 31400 IPOH, PERAK, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
|
2) |
Name |
: |
RHB BANK BHD |
|
3) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
01/07/1987 |
N/A |
OVERSEACHINESE BANKING COPRPORATION LIMITED |
MYR 2,050,000.00 |
Satisfied |
|
2 |
01/07/1987 |
N/A |
OVERSEA CHINESE BANKING CORPORATION LTD |
MYR 500,000.00 |
Satisfied |
|
3 |
01/07/1987 |
N/A |
OVERSEA CHINESE BANKING CORPORATION |
MYR 500,000.00 |
Satisfied |
|
4 |
14/07/1987 |
N/A |
OVERSEA CHINESE FINANCE COMPANY BERHAD |
MYR 500,000.00 |
Satisfied |
|
5 |
27/03/1989 |
N/A |
KWONG YIK BANK BERHAD |
MYR 500,000.00 |
Satisfied |
|
6 |
27/03/1989 |
N/A |
KWONG YIK BANK BERHAD |
MYR 4,500,000.00 |
Satisfied |
|
7 |
23/04/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
8 |
23/04/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 540,000.00 |
Satisfied |
|
9 |
12/05/1990 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
10 |
06/11/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 500,000.00 |
Satisfied |
|
12 |
07/03/1991 |
N/A |
BANK PEMBANGUNAN MALAYSIA BERHAD |
MYR 1,400,000.00 |
Satisfied |
|
11 |
03/07/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 720,000.00 |
Satisfied |
|
13 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 8,315,000.00 |
Satisfied |
|
14 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 7,900,000.00 |
Satisfied |
|
15 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 415,000.00 |
Satisfied |
|
16 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 7,900,000.00 |
Satisfied |
|
17 |
12/09/1991 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 415,000.00 |
Satisfied |
|
18 |
16/11/1991 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
19 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
20 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
21 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
22 |
16/11/1992 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 2,000,000.00 |
Satisfied |
|
23 |
22/02/1993 |
N/A |
SOUTHERN BANK BHD |
MYR 200,000.00 |
Satisfied |
|
24 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,900,000.00 |
Satisfied |
|
25 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 900,000.00 |
Satisfied |
|
26 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
27 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 900,000.00 |
Satisfied |
|
28 |
15/09/1993 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
29 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
30 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
31 |
18/07/1995 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
32 |
16/11/1996 |
N/A |
SOUTHERN BANK BERHAD |
MYR 2,416,000.00 |
Satisfied |
|
33 |
15/01/2001 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 15,000,000.00 |
Unsatisfied |
|
34 |
15/01/2001 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 3,000,000.00 |
Unsatisfied |
|
36 |
31/12/2001 |
N/A |
BANK PEMBANGUAN DAN INFRASTRUKTUR MALAYSIA BERHAD |
MYR 3,000,000.00 |
Satisfied |
|
35 |
10/01/2002 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 3,000,000.00 |
Satisfied |
|
37 |
01/07/2002 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 200,000.00 |
Satisfied |
|
38 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
39 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
40 |
21/01/2003 |
N/A |
OCBC BANK MALAYSIA BERHAD |
MYR 1,800,000.00 |
Unsatisfied |
|
41 |
08/10/2004 |
N/A |
RHB BANK BERHAD |
MYR 4,800,000.00 |
Satisfied |
|
42 |
14/03/2005 |
N/A |
RHB BANK BERHAD |
MYR 3,447,134.00 |
Satisfied |
|
43 |
21/11/2007 |
N/A |
HWANGDBS INVESTMENT BANK BERHAD |
- |
Satisfied |
|
44 |
09/05/2008 |
N/A |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
- |
Unsatisfied |
|
45 |
16/09/2008 |
N/A |
MALAYAN BANKING BHD |
MYR 13,360,000.00 |
Unsatisfied |
|
46 |
30/10/2009 |
N/A |
AFFIN INVESTMENT BANK BERHAD |
MYR 20,000,000.00 |
Satisfied |
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 |
Percentage |
: |
30% |
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Import Countries |
: |
CHINA,JAPAN,KOREA,GERMANY,INDIA,UNITED STATES |
|||
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
PHARMACEUTICAL INDUSTRIES,PHARMACIES,DEALERS,DISTRIBUTORS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Product Brand Name |
: |
|
|
|
Award |
: |
1 ) SPECIAL
AWARD FOR INNOVATIVE PRODUCT BY MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI)
Year :2004 |
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) MALAYSIA FOOD & BEVERAGE INDUSTRY |
|
|
Ownership of premises |
: |
OWNED |
|
|
Shifts |
: |
2 SHIFTS (24 HOURS OPERATING) |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
500 |
500 |
500 |
500 |
500 |
||||
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
pharmaceutical and herbal products.
The Hovid Group's range of principal products and activities includes:
* special drug delivery systems, such as modified release formulations and
bio-availability enhanced formulations;
* ethical products, including anti-biotics, anti-diabetics, anti-hypertensives,
anti-malarial and anti-inflammatory analgesics;
* dietary supplements;
* consumer products; and
* the commercial extraction of palm tocotrienol complex, mixed carotenoid
complex and phytosterols from palm fruits.
The Subject's manufacturing facilities and practices in respect of its
pharmaceutical products conform to the PIC/S' GMP and Good Laboratory Practice
Standards.
The Subject's herbal tea has been in the market since the early 40s and it
comprises 26 types of herbs and is blended with tea leaves.
We were informed that the Subject has warehouses located in Kuala Lumpur, Pulau
Pinang, Johor, Sabah and Sarawak.
The Group undertakes extraction and processing of nutrient from palm oil,
trading of medical and pharmaceutical products.
The Group is also active in marketing health and wellness products via the
multi-level network market.
RECENT DEVELOPMENT
|
19 February 2014
THE share price of Hovid Bhd, the country's largest publicly traded medical
drug exporter in terms of sales, is on the verge of a major breakthrough.Hong
Leong Industries Research, in a report, said on a technical platform, the
stock's price has broken the "bullish flag" chart pattern. This was a
result of strong buying interest since the start of the year, it added. According
to the research house, the stock could move upwards and trade at between 39 sen
and 40 sen a share. The stock currently trades in the 35 sen-a-share
bandwagon.However, the technical parameters to value Hovid is much lower than
CIMB Research's valuation of the company, based on its business.
To recap, CIMB Research last year valued Hovid at 43 sen a share but that
valuation did not take into account the possibility of Hovid winning the United
States Food and Drug Administration approval to sell tocotrienols as a drug.If
successful, it could open up a market that is worth billions of ringgit in
annual sales, CIMB had said in the report.More than half of Hovid's revenue is
export-based and the company is the only Malaysia-listed pharmaceutical company
that holds patents, signifying its strong research and development culture.
25th April 2012
The Sc, a manufacturer of ethical drugs and health and dietary supplements,
plans to build a manufacturing plant in the Philippines, possibly within two
years, as its business here improves, said its managing director David Ho.
The Philippine market had been generating steady sales for Hovid over the past
seven years, Ho said.
He added that all of the company products, numbering almost 30, were well
accepted in the country.
"We like to grow our products to more than 100 eventually and we are
looking at setting up a plant here as imported products are subject to a three
per cent here," he told Business Times on the sidelines of the
Malaysia-Philippines Palm Oil Trade Fair & Seminar.
The seminar was organised by the Malaysian Palm Oil Council and the Malaysian
Palm Oil Board.
There was also a forum themed "Healthy Lifestyle with Palm Products"
targeting the medical fraternity within the Philippines.
Ho said SC products were managed and marketed by its wholly-owned subsidiary
Hovid Philippines with a staff strength of more than 100 people.
"Business has been good for us here, although it took a while to get going
as product registering takes about a year," he said.
Four to five per cent of SC revenue came from the Philippines, he added.
Close to 60 per cent of Hovid products are exported to most Asian countries,
except Indonesia and Thailand, and African countries, which is its biggest
market.
"We can not go into Indonesia because the country does not accept
Malaysia-registered products while in Thailand, the product registering process
is not easy and time-consuming," he lamented.
SC currently has two plants in Perak and one in India.
Ho said the company was looking at building another plant in Malaysia and it
might take place next year.
He declined to reveal the likely investment cost but said even a small plant
would cost between RM20 million and RM30 million.
On its business outlook this year, Ho said he was confident that Hovid would do
well in the financial year ending June 30, 2012, after last financial year weak
performance, in which it was dragged down by the numbers in its then
loss-making subsidiary, Carotech Bhd.
For the second quarter ended December 31, 2011, SC net profit grew to RM10.76
million from RM1.47 million in the previous corresponding quarter.
It also made a one-time gain of RM7.7 million after it pared down its interest
in Carotech to 17.6 per cent from 25 per cent previously.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
05-5060690 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
121, JALAN TUNKU ABDUL RAHMAN,30010,IPOH,PERAK. |
|
Current Address |
: |
121, JALAN TUNKU ABDUL RAHMAN, 30010 IPOH, PERAK, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.88% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
13.48% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The dip in
profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
60 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's management was
quite efficient in handling its debtors. The Subject's debtors days were at
an acceptable range, thus the risk of its debts turning bad was minimised.
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 |
[ |
2.45 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.24 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 |
: |
Favourable |
[ |
19.14 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.04 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 : |
||||||
|
Although the Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the Subject's
profit margin. 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. 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
: STRONG |
||||||
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 |
|
|
21 : MANUFACTURE OF BASIC PHARMACEUTICALS, MEDICINAL CHEMICAL AND
BOTANICAL PRODUCTS |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is expected to grow by 5.5% in 2015. It will be
bolstered by strong domestic and export-oriented industries in line with
growing investment activities and favorable external demand. Moreover, in
2014, the manufacturing sectors have spearheading growth. The manufacturing
sector is estimated to grow at a faster pace in 2014 on higher exports of
electronics and electrical (E&E) products as external demand improves. |
|
|
The manufacturing sector expanded strongly during the first half of
2014, the highest growth in three years, spurred by higher global
semiconductor sales. Value-added of the manufacturing sector expanded 7.1%
during the first half of 2014. Production of the sector rose 6.6% in the
first seven months of 2014 supported by resilient domestic demand and
recovery in the external sector during the first seven months of the years.
The sales value of manufactured products rebounded by 7.7% in the first seven
months of 2014. The strong performance of the sector was on account of higher
output at 9.4% from the domestic-oriented industries, particularly transport
equipment, food and beverage. |
|
|
The manufacturing sector continued to attract domestic and foreign
investment with investment approved by Malaysian Investment Development
Authority (MIDA) totaling RM47.4 billion during the first six months of 2014,
mainly from Japan, China and Germany. Meanwhile, the capacity utilization
rate remained steady at 80.4% during the second quarter of 2014 while average
wage per employee and productivity improved to RM2,772 per month and 5.9%,
respectively during the first seven months of 2014. Boosted by favorable
domestic economic activity and recovery in the external sector, the
manufacturing sector is expected to record a better performance with growth
of 6.4% in 2014. |
|
|
In the meantime, production of wood products rebounded by 5.1% largely
supported by higher output in the saw-milling and planning of wood segment at
25.9% during the first seven months of 2014. The positive performance was
attributed to vibrant residential and commercial construction activities
which contributed to increased use of timber frame and glued laminated timber
for cost savings compared to the use of concrete and steel. Increased demand
from major export destination such as the US, Japan and Australia for
Malaysian made furniture contributed to the higher output, particularly
wooden and cane furniture which rebounded by 2.2%. |
|
|
Production of rubber products contracted 0.3% in the first seven
months of 2014 on account of slower demand for rubber gloves and rubber
tyres. The decline in rubber tyres for vehicles was due to the weaker
external demand from the automotive industry, particularly from China. Output
of other rubber products contracted 3.8% following the product shift from
rubber-based to plastics, silicones and metal alloys in the manufacture of
medical devices. |
|
|
Besides, exports of manufactured products are expected to grow 6.1% in
2014 boosted by the growing demand from advanced economies. However, during the
first seven months of 2014, manufactured exports surged 11.4%. The robust
growth was buoyed by strengthening demand in the US and EU, reflecting
significant exposure of Malaysian exports to the economic performance in the
advance economies. The strength in export was broad-based with robust growth
in both E&E and non- E&E subsectors. |
|
|
Under budget 2015, the Government will provide incentive in the form
of capital allowance on automation expenditure to encourage automation in the
manufacturing sector, which may help in the manufacturing sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
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 |
183,542,000 |
172,510,000 |
164,808,000 |
153,456,000 |
365,166,000 |
|
Other Income |
2,739,000 |
2,225,000 |
2,921,000 |
7,299,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
186,281,000 |
174,735,000 |
167,729,000 |
160,755,000 |
365,166,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
24,809,000 |
25,768,000 |
22,256,000 |
(2,172,000) |
(97,678,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
24,809,000 |
25,768,000 |
22,256,000 |
(2,172,000) |
(97,678,000) |
|
Taxation |
(6,507,000) |
(5,888,000) |
(6,498,000) |
(3,945,000) |
6,883,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
18,302,000 |
19,880,000 |
15,758,000 |
(6,117,000) |
(90,795,000) |
|
Minority interests |
(218,000) |
(146,000) |
(76,000) |
66,000 |
37,888,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
18,084,000 |
19,734,000 |
15,682,000 |
(6,051,000) |
(52,907,000) |
|
Extraordinary items |
- |
- |
- |
12,088,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
18,084,000 |
19,734,000 |
15,682,000 |
6,037,000 |
(52,907,000) |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
44,718,000 |
19,459,000 |
12,350,000 |
6,313,000 |
59,220,000 |
|
Prior year adjustment |
- |
145,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
44,718,000 |
19,604,000 |
12,350,000 |
6,313,000 |
59,220,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
62,802,000 |
39,338,000 |
28,032,000 |
12,350,000 |
6,313,000 |
|
TRANSFER TO RESERVES - General |
(10,766,000) |
5,380,000 |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
(8,573,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
52,036,000 |
44,718,000 |
19,459,000 |
12,350,000 |
6,313,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
235,000 |
574,000 |
810,000 |
900,000 |
2,496,000 |
|
Term loan / Borrowing |
277,000 |
475,000 |
751,000 |
2,328,000 |
7,215,000 |
|
Others |
856,000 |
1,320,000 |
1,632,000 |
3,323,000 |
7,801,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,368,000 |
2,369,000 |
3,193,000 |
6,551,000 |
17,512,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
5,440,000 |
5,320,000 |
5,188,000 |
7,831,000 |
22,520,000 |
|
AMORTIZATION |
596,000 |
550,000 |
494,000 |
531,000 |
613,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,036,000 |
5,870,000 |
5,682,000 |
8,362,000 |
23,133,000 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
HOVID BERHAD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
98,415,000 |
111,555,000 |
91,054,000 |
91,618,000 |
396,991,000 |
|
Associated companies |
- |
- |
- |
14,033,000 |
- |
|
Investment properties |
2,400,000 |
2,000,000 |
1,680,000 |
850,000 |
850,000 |
|
Deferred assets |
520,000 |
451,000 |
186,000 |
125,000 |
108,000 |
|
Others |
- |
- |
- |
- |
269,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
2,920,000 |
2,451,000 |
1,866,000 |
15,008,000 |
1,227,000 |
|
Goodwill on consolidation |
18,008,000 |
18,860,000 |
19,663,000 |
24,160,000 |
25,290,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
18,008,000 |
18,860,000 |
19,663,000 |
24,160,000 |
25,290,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
119,343,000 |
132,866,000 |
112,583,000 |
130,786,000 |
423,508,000 |
|
Stocks |
26,494,000 |
26,337,000 |
29,543,000 |
23,688,000 |
83,162,000 |
|
Trade debtors |
30,252,000 |
29,907,000 |
33,133,000 |
30,744,000 |
40,322,000 |
|
Other debtors, deposits & prepayments |
10,228,000 |
7,765,000 |
11,710,000 |
6,495,000 |
7,485,000 |
|
Short term deposits |
1,100,000 |
1,599,000 |
585,000 |
- |
351,000 |
|
Deposits with financial institutions |
- |
- |
- |
897,000 |
- |
|
Amount due from associated companies |
- |
- |
- |
516,000 |
- |
|
Cash & bank balances |
21,570,000 |
25,206,000 |
22,622,000 |
7,872,000 |
9,258,000 |
|
Others |
18,725,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
108,369,000 |
90,814,000 |
97,593,000 |
70,212,000 |
140,578,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
227,712,000 |
223,680,000 |
210,176,000 |
200,998,000 |
564,086,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
12,181,000 |
11,687,000 |
13,532,000 |
12,974,000 |
25,687,000 |
|
Other creditors & accruals |
12,578,000 |
15,718,000 |
20,495,000 |
12,288,000 |
40,948,000 |
|
Hire purchase & lease creditors |
137,000 |
490,000 |
1,168,000 |
2,173,000 |
6,695,000 |
|
Bank overdraft |
- |
2,067,000 |
7,533,000 |
6,096,000 |
27,743,000 |
|
Short term borrowings/Term loans |
788,000 |
1,510,000 |
2,939,000 |
3,363,000 |
195,022,000 |
|
Other borrowings |
- |
- |
- |
- |
17,000,000 |
|
Bill & acceptances payable |
2,939,000 |
3,911,000 |
19,304,000 |
21,395,000 |
97,310,000 |
|
Provision for taxation |
4,826,000 |
2,424,000 |
2,763,000 |
1,740,000 |
1,723,000 |
|
Other liabilities |
- |
- |
6,000,000 |
6,000,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
33,449,000 |
37,807,000 |
73,734,000 |
66,029,000 |
412,128,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
74,920,000 |
53,007,000 |
23,859,000 |
4,183,000 |
(271,550,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
194,263,000 |
185,873,000 |
136,442,000 |
134,969,000 |
151,958,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
76,381,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
76,381,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
RESERVES |
|||||
|
Share premium |
263,000 |
90,000 |
90,000 |
90,000 |
90,000 |
|
Revaluation reserve |
25,545,000 |
26,167,000 |
4,708,000 |
4,668,000 |
16,485,000 |
|
Exchange equalisation/fluctuation reserve |
540,000 |
(1,239,000) |
(683,000) |
- |
299,000 |
|
Retained profit/(loss) carried forward |
52,036,000 |
44,718,000 |
19,459,000 |
12,350,000 |
6,313,000 |
|
Others |
6,404,000 |
7,067,000 |
7,004,000 |
7,004,000 |
7,004,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
84,788,000 |
76,803,000 |
30,578,000 |
24,112,000 |
30,191,000 |
|
MINORITY INTEREST |
4,988,000 |
4,680,000 |
4,485,000 |
5,180,000 |
27,449,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
166,157,000 |
157,691,000 |
111,271,000 |
105,500,000 |
133,848,000 |
|
Long term loans |
1,990,000 |
3,926,000 |
5,547,000 |
8,912,000 |
4,853,000 |
|
Lease obligations |
152,000 |
289,000 |
684,000 |
1,664,000 |
612,000 |
|
Deferred taxation |
11,956,000 |
13,998,000 |
11,514,000 |
11,346,000 |
11,201,000 |
|
Retirement benefits provision |
3,214,000 |
3,902,000 |
1,385,000 |
1,199,000 |
1,444,000 |
|
Others |
10,794,000 |
6,067,000 |
6,041,000 |
6,348,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
28,106,000 |
28,182,000 |
25,171,000 |
29,469,000 |
18,110,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
194,263,000 |
185,873,000 |
136,442,000 |
134,969,000 |
151,958,000 |
|
FINANCIAL
RATIO
|
|
HOVID BERHAD |
|
TYPES OF FUNDS |
|||||
|
Cash |
22,670,000 |
26,805,000 |
23,207,000 |
7,872,000 |
9,609,000 |
|
Net Liquid Funds |
19,731,000 |
20,827,000 |
(3,630,000) |
(19,619,000) |
(115,444,000) |
|
Net Liquid Assets |
48,426,000 |
26,670,000 |
(5,684,000) |
(19,505,000) |
(354,712,000) |
|
Net Current Assets/(Liabilities) |
74,920,000 |
53,007,000 |
23,859,000 |
4,183,000 |
(271,550,000) |
|
Net Tangible Assets |
176,255,000 |
167,013,000 |
116,779,000 |
110,809,000 |
126,668,000 |
|
Net Monetary Assets |
20,320,000 |
(1,512,000) |
(30,855,000) |
(48,974,000) |
(372,822,000) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
6,006,000 |
12,193,000 |
37,175,000 |
43,603,000 |
349,235,000 |
|
Total Liabilities |
61,555,000 |
65,989,000 |
98,905,000 |
95,498,000 |
430,238,000 |
|
Total Assets |
227,712,000 |
223,680,000 |
210,176,000 |
200,998,000 |
564,086,000 |
|
Net Assets |
194,263,000 |
185,873,000 |
136,442,000 |
134,969,000 |
151,958,000 |
|
Net Assets Backing |
166,157,000 |
157,691,000 |
111,271,000 |
105,500,000 |
133,848,000 |
|
Shareholders' Funds |
166,157,000 |
157,691,000 |
111,271,000 |
105,500,000 |
133,848,000 |
|
Total Share Capital |
76,381,000 |
76,208,000 |
76,208,000 |
76,208,000 |
76,208,000 |
|
Total Reserves |
84,788,000 |
76,803,000 |
30,578,000 |
24,112,000 |
30,191,000 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.68 |
0.71 |
0.31 |
0.12 |
0.02 |
|
Liquid Ratio |
2.45 |
1.71 |
0.92 |
0.70 |
0.14 |
|
Current Ratio |
3.24 |
2.40 |
1.32 |
1.06 |
0.34 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
53 |
56 |
65 |
56 |
83 |
|
Debtors Ratio |
60 |
63 |
73 |
73 |
40 |
|
Creditors Ratio |
24 |
25 |
30 |
31 |
26 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.04 |
0.08 |
0.33 |
0.41 |
2.61 |
|
Liabilities Ratio |
0.37 |
0.42 |
0.89 |
0.91 |
3.21 |
|
Times Interest Earned Ratio |
19.14 |
11.88 |
7.97 |
0.67 |
(4.58) |
|
Assets Backing Ratio |
2.31 |
2.19 |
1.53 |
1.45 |
1.66 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
13.52 |
14.94 |
13.50 |
(1.42) |
(26.75) |
|
Net Profit Margin |
9.85 |
11.44 |
9.52 |
(3.94) |
(14.49) |
|
Return On Net Assets |
13.48 |
15.14 |
18.65 |
3.24 |
(52.76) |
|
Return On Capital Employed |
12.04 |
13.27 |
15.03 |
2.54 |
(33.52) |
|
Return On Shareholders' Funds/Equity |
10.88 |
12.51 |
14.09 |
(5.74) |
(39.53) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.55 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.