|
Report No. : |
344634 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PETRONAS CHEMICALS DERIVATIVES SDN. BHD. |
|
|
|
|
Formerly Known As : |
OPTIMAL CHEMICALS (MALAYSIA) SDN BHD |
|
|
|
|
Registered Office : |
Tower 1, Petronas Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
31.07.1998 |
|
|
|
|
Com. Reg. No.: |
466586-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
The Subject is principally engaged in
manufacturing & marketing of ethylene oxide derivatives, propylene
derivative products & related chemical products. |
|
|
|
|
No. of Employees : |
600 [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. 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. |
: |
466586-D |
|
COMPANY
NAME |
: |
PETRONAS
CHEMICALS DERIVATIVES SDN. BHD. |
|
FORMER
NAME |
: |
OPTIMAL
CHEMICALS (MALAYSIA) SDN BHD (23/03/2012) |
|
INCORPORATION
DATE |
: |
31/07/1998 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
TOWER
1, PETRONAS TWIN TOWERS, KUALA LUMPUR CITY CENTRE, 50088 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS
ADDRESS |
: |
KERTEH
INDUSTRIAL AREA, KM 106, JALAN KUALA TERENGGANU-KUANTAN, 24300 KERTEH,
TERENGGANU, MALAYSIA. |
|
TEL.NO. |
: |
09-8307700 |
|
FAX.NO. |
: |
09-8307797 |
|
WEB
SITE |
: |
WWW.OPTIMAL.COM.MY |
|
CONTACT
PERSON |
: |
MOHD
YUSRI BIN MOHAMED YUSOF ( DIRECTOR ) |
|
INDUSTRY
CODE |
: |
20
|
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
& MARKETING OF ETHYLENE OXIDE DERIVATIVES, PROPYLENE DERIVATIVE PRODUCTS
& RELATED CHEMICAL PRODUCTS |
|
AUTHORISED
CAPITAL |
: |
MYR
550,000,000.00 DIVIDED INTO |
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
237,579,000.00 DIVIDED INTO |
|
SALES |
: |
MYR
1,528,023,945 [2014] |
|
NET
WORTH |
: |
MYR
1,271,507,384 [2014] |
|
M1000
OVERALL RANKING |
: |
235[2011] |
|
M1000
INDUSTRY RANKING |
: |
11[2011] |
|
STAFF
STRENGTH |
: |
600
[2015] |
|
|
|
|
|
BANKER
(S) |
|
MALAYAN
BANKING BHD |
|
|
|
|
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER
CHECK |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
GOOD |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) manufacturing &
marketing of ethylene oxide derivatives, propylene derivative products &
related chemical products.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According
to the Malaysia 1000 publication, the Subject's ranking are as follows: |
|
||||
|
|||||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
|
|
OVERALL
RANKING |
235 |
194 |
149 |
175 |
|
|
INDUSTRY
RANKING |
11 |
10 |
6 |
2 |
|
The
immediate holding company of the Subject is PETRONAS CHEMICALS GROUP BERHAD, a
company incorporated in MALAYSIA.
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
24/04/2015 |
MYR
550,000,000.00 |
MYR
237,579,000.00 |
|
31/03/2000 |
MYR
550,000,000.00 |
MYR
165,160,000.00 |
|
21/01/2000 |
MYR
550,000,000.00 |
MYR
202,000.00 |
|
18/08/1998 |
MYR
550,000,000.00 |
MYR
1,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
PETRONAS
CHEMICALS GROUP BERHAD |
TOWER
1, PETRONAS TWIN TOWERS, KUALA LUMPUR CITY CENTRE, 50088 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
475,158.00 |
100.00 |
|
--------------- |
------ |
|||
|
475,158.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
Former
Shareholder(s) :
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
PETROLIAM
NASIONAL BERHAD (PETRONAS) |
MALAYSIA |
20076K |
247,579.00 |
29/10/2009 |
|
UNION
CARBIDE CORPORATION |
N/A |
XLZ000000990 |
247,579.00 |
03/01/2011 |
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
SAMSUDIN BIN MISKON |
|
Address |
: |
DL
49, JALAN AM, JALAN BUKIT AMPANG, 68000 AMPANG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
6012702 |
|
New
IC No |
: |
601110-01-5435 |
|
Date
of Birth |
: |
10/11/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/10/2013 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
MUHAMMAD FARID BIN NGAH |
|
Address |
: |
20,
JALAN 23, MEDAN TOK SIRA, 25000 KUANTAN, PAHANG, MALAYSIA. |
|
IC
/ PP No |
: |
5981303 |
|
New
IC No |
: |
600913-11-5099 |
|
Date
of Birth |
: |
13/09/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
20/03/2014 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
MOHD YUSRI BIN MOHAMED YUSOF |
|
Address |
: |
2A,
JALAN PALMA 1A, TWIN PALM, KEMENSAH, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC
/ PP No |
: |
A0369817 |
|
New
IC No |
: |
660328-11-5113 |
|
Date
of Birth |
: |
28/03/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
02/07/2012 |
DIRECTOR
4
|
Name
Of Subject |
: |
MS.
FARINA BINTI FARIKHULLAH KHAN |
|
Address |
: |
27,
JALAN ELITIS ARCA BELANTARA, VALENCIA NORTH GOLF PRECINT, 47000 SUNGAI BULOH,
SELANGOR, MALAYSIA. |
|
New
IC No |
: |
720308-11-5230 |
|
Date
of Birth |
: |
08/03/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
29/01/2014 |
DIRECTOR
5
|
Name
Of Subject |
: |
MR.
AKBAR BIN MD THAYOOB |
|
Address |
: |
23,
JALAN USJ 6/2J, 47610 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
7121205 |
|
New
IC No |
: |
630629-07-5613 |
|
Date
of Birth |
: |
29/06/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
29/01/2014 |
|
1)
|
Name
of Subject |
: |
MOHD
YUSRI BIN MOHAMED YUSOF |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST
& YOUNG |
|
Auditor'
Address |
: |
MENARA
MILENIUM, JALAN DAMANLELA, PUSAT BANDAR DAMANSARA, LEVEL 23A, 50490 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1)
|
Company
Secretary |
: |
MS.
MEK YAM @ MARIAM BINTI HASSAN |
|
IC
/ PP No |
: |
A2742752 |
|
|
New
IC No |
: |
740210-03-5388 |
|
|
Address |
: |
11,
JALAN SUAKASIH 3/6, BANDAR TUN HUSSEIN ON, 43200 BALAKONG, SELANGOR,
MALAYSIA. |
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
MALAYAN
BANKING BHD |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
17/09/2004 |
CHARGE
ON ACCOUNT |
MALAYAN
BANKING BERHAD |
- |
Unsatisfied |
|
2 |
17/09/2004 |
DEBENTURE |
MALAYAN
BANKING BERHAD |
- |
Unsatisfied |
|
3 |
17/09/2004 |
DEED
OF ASSIGNMENT |
MALAYAN
BANKING BERHAD |
- |
Unsatisfied |
|
4 |
01/06/2006 |
OPEN
CHARGE |
MALAYAN
BANKING BERHAD |
- |
Satisfied |
* 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.
* 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 |
: |
YES |
Percentage |
: |
50% |
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Import
Countries |
: |
ASIA |
|||
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
80% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
30
- 90 DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Type
of Customer |
: |
END
USERS |
|||
|
Products
manufactured |
: |
|
|
|
Award |
: |
|
|
|
Member(s)
/ Affiliate(s) |
: |
MALAYSIAN
INTERNATIONAL CHAMBER OF COMMERCE AND INDUSTRY (MICCI) |
|
|
Ownership
of premises |
: |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
600 |
600 |
600 |
600 |
600 |
||||
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing &
marketing of ethylene oxide derivatives, propylene derivative products &
related chemical products.
The Subject's products can be found in various commonly used items and
industrial applications. These include personal care products i.e. soaps and
shampoos; cosmetics; pharmaceuticals; industrial, institutional and household
cleaners; synthetic lubricants; and oil and gas processing.
Besides, the Subject's products are heavily used as the main ingredients in
solvents, paints, inks, coatings and adhesives, and brake fluids.
The Subject's petrochemical products from basic feedstock of Ethylene and
Propylene, to intermediate products like Ethylene Oxide, Ethylene Glycol,
Butanol and various Ethylene Oxide Derivatives as well as basic and high
performance chemicals.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
09-8307700 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
MALAYSIA,
KM 106, JIN KUANTON - KUALA TERENGGANU, 24300 KERTECH, |
|
Current
Address |
: |
KERTEH
INDUSTRIAL AREA, KM 106, JALAN KUALA TERENGGANU-KUANTAN, 24300 KERTEH,
TERENGGANU, MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some information.
The address provided is incomplete.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2011
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(1.70%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(0.56%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The Subject could be more efficient in controlling its
operating costs and had managed to reduce its losses during the year. The
Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
33
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
8
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
6
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in 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 |
[ |
1.61
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.98
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 |
: |
Unfavourable |
[ |
(0.96
Times) |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.11
Times |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject
may be vulnerable to default in servicing the interest. 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 : |
||||||
|
The
Subject's turnover showed a volatile trend but its losses were lower when
compared to the previous corresponding period. This could suggest that the
Subject was more efficient in its operating cost control and was more
competitive. The Subject was in good liquidity position with its total
current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject's interest cover was negative, indicating that it
did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term
financing or capital injection, it may not be able to service its interest
and repay the loans. 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 : LIMITED |
||||||
|
Major
Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population
( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross
Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic
Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private
Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption
( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment
( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public
Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption
( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment
( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance
of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government
Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation
( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.2 |
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
|
|||||
|
MSIC
CODE |
|
|
20
: MANUFACTURE OF CHEMICALS AND CHEMICAL 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 |
|
|
Incorporated in 1998, the Subject is a
Private Limited company, focusing on manufacturing & marketing of
ethylene oxide derivatives, propylene derivative products & related
chemical products. With its long establishment in the market, the Subject has
received strong support from its stable customers base. Its business position
in the market is quite stable and it is expected to enjoy better market
shares over its rivals. The Subject is a large entity with strong capital
position of MYR 237,579,000. We are confident with the Subject's business and
its future growth prospect. Having strong support from its holding company
has enabled the Subject to remain competitive despite the challenging
business environment.
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
Financial
Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
9 |
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 |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
1,528,023,945 |
1,107,458,421 |
1,424,260,299 |
1,199,698,128 |
1,497,658,043 |
|
Other
Income |
25,356,075 |
22,414,582 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
1,553,380,020 |
1,129,873,003 |
1,424,260,299 |
1,199,698,128 |
1,497,658,043 |
|
Costs
of Goods Sold |
(1,408,525,865) |
(1,034,280,325) |
(1,189,553,763) |
(936,445,473) |
(1,404,078,669) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
144,854,155 |
95,592,678 |
234,706,536 |
263,252,655 |
93,579,374 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(15,855,415) |
(54,224,762) |
23,843,889 |
113,149,652 |
61,727,672 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(15,855,415) |
(54,224,762) |
23,843,889 |
113,149,652 |
61,727,672 |
|
Taxation |
(5,726,111) |
13,603,055 |
(8,637,685) |
(31,415,072) |
164,326,469 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(21,581,526) |
(40,621,707) |
15,206,204 |
81,734,580 |
226,054,141 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
838,252,910 |
878,874,617 |
863,668,413 |
812,342,215 |
586,288,074 |
|
Prior
year adjustment |
- |
- |
- |
(30,408,382) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
838,252,910 |
878,874,617 |
863,668,413 |
781,933,833 |
586,288,074 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
816,671,384 |
838,252,910 |
878,874,617 |
863,668,413 |
812,342,215 |
|
TRANSFER
TO RESERVES - General |
(10,000,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
806,671,384 |
838,252,910 |
878,874,617 |
863,668,413 |
812,342,215 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
8,099,469 |
9,008,998 |
13,499,934 |
10,570,779 |
16,964,753 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,099,469 |
9,008,998 |
13,499,934 |
10,570,779 |
16,964,753 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
844,864,612 |
933,559,565 |
932,918,709 |
1,025,901,981 |
926,285,762 |
|
Deferred
assets |
186,624,534 |
192,350,645 |
178,829,685 |
185,753,127 |
205,596,000 |
|
Others |
- |
20,573 |
50,095 |
103,329 |
125,471 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
186,624,534 |
192,371,218 |
178,879,780 |
185,856,456 |
205,721,471 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,031,489,146 |
1,125,930,783 |
1,111,798,489 |
1,211,758,437 |
1,132,007,233 |
|
Stocks |
137,292,349 |
131,909,073 |
135,173,330 |
182,087,203 |
125,275,697 |
|
Trade
debtors |
32,734,631 |
56,490,740 |
219,556,504 |
204,450,338 |
190,495,818 |
|
Other
debtors, deposits & prepayments |
6,507,574 |
5,715,715 |
16,761,985 |
12,517,069 |
5,723,483 |
|
Short
term deposits |
- |
- |
275,633,125 |
341,710,952 |
232,814,310 |
|
Amount
due from holding company |
20,665,985 |
8,013,964 |
- |
- |
292,248 |
|
Amount
due from related companies |
274,873,190 |
277,779,140 |
106,337,523 |
44,743,310 |
78,771,047 |
|
Cash
& bank balances |
262,121,932 |
278,598,810 |
6,731,231 |
2,131,861 |
4,230,479 |
|
Others |
618,993 |
618,993 |
336,553 |
267,208 |
86,868 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
734,814,654 |
759,126,435 |
760,530,251 |
787,907,941 |
637,689,950 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,766,303,800 |
1,885,057,218 |
1,872,328,740 |
1,999,666,378 |
1,769,697,183 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
21,509,688 |
38,758,089 |
36,529,178 |
8,739,274 |
2,276,000 |
|
Other
creditors & accruals |
84,150,483 |
189,677,439 |
175,085,611 |
85,671,150 |
110,845,191 |
|
Hire
purchase & lease creditors |
20,055,120 |
19,100,114 |
- |
- |
- |
|
Short
term borrowings/Term loans |
- |
- |
- |
91,500,958 |
90,382,586 |
|
Other
borrowings |
- |
- |
- |
25,069,015 |
38,133,496 |
|
Amounts
owing to holding company |
86,503,613 |
43,804,910 |
33,243,397 |
4,511,375 |
6,636,413 |
|
Amounts
owing to related companies |
159,743,359 |
117,738,482 |
73,579,964 |
105,885,073 |
26,402,218 |
|
Other
liabilities |
- |
- |
18,190,585 |
17,324,368 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
371,962,263 |
409,079,034 |
336,628,735 |
338,701,213 |
274,675,904 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
362,852,391 |
350,047,401 |
423,901,516 |
449,206,728 |
363,014,046 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,394,341,537 |
1,475,978,184 |
1,535,700,005 |
1,660,965,165 |
1,495,021,279 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
237,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
237,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
|
RESERVES |
|||||
|
Share
premium |
217,257,000 |
247,257,000 |
247,257,000 |
247,257,000 |
247,257,000 |
|
Retained
profit/(loss) carried forward |
806,671,384 |
838,252,910 |
878,874,617 |
863,668,413 |
812,342,215 |
|
Capital
redemption reserve |
10,000,000 |
- |
- |
- |
- |
|
Others |
- |
- |
- |
(3,305,452) |
(1,599,371) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,033,928,384 |
1,085,509,910 |
1,126,131,617 |
1,107,619,961 |
1,057,999,844 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
1,271,507,384 |
1,333,088,910 |
1,373,710,617 |
1,355,198,961 |
1,305,578,844 |
|
Long
term loans |
- |
- |
161,989,388 |
180,179,969 |
41,804,090 |
|
Lease
obligations |
122,834,153 |
142,889,274 |
- |
- |
- |
|
Others |
- |
- |
- |
125,586,235 |
147,638,345 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
122,834,153 |
142,889,274 |
161,989,388 |
305,766,204 |
189,442,435 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,394,341,537 |
1,475,978,184 |
1,535,700,005 |
1,660,965,165 |
1,495,021,279 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES
OF FUNDS |
|||||
|
Cash |
262,121,932 |
278,598,810 |
282,364,356 |
343,842,813 |
237,044,789 |
|
Net
Liquid Funds |
262,121,932 |
278,598,810 |
282,364,356 |
343,842,813 |
237,044,789 |
|
Net
Liquid Assets |
225,560,042 |
218,138,328 |
288,728,186 |
267,119,525 |
237,738,349 |
|
Net
Current Assets/(Liabilities) |
362,852,391 |
350,047,401 |
423,901,516 |
449,206,728 |
363,014,046 |
|
Net
Tangible Assets |
1,394,341,537 |
1,475,978,184 |
1,535,700,005 |
1,660,965,165 |
1,495,021,279 |
|
Net
Monetary Assets |
102,725,889 |
75,249,054 |
126,738,798 |
(38,646,679) |
48,295,914 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(7,755,946) |
(45,215,764) |
37,343,823 |
123,720,431 |
78,692,425 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(7,755,946) |
(45,215,764) |
37,343,823 |
123,720,431 |
78,692,425 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
142,889,273 |
161,989,388 |
161,989,388 |
296,749,942 |
170,320,172 |
|
Total
Liabilities |
494,796,416 |
551,968,308 |
498,618,123 |
644,467,417 |
464,118,339 |
|
Total
Assets |
1,766,303,800 |
1,885,057,218 |
1,872,328,740 |
1,999,666,378 |
1,769,697,183 |
|
Net
Assets |
1,394,341,537 |
1,475,978,184 |
1,535,700,005 |
1,660,965,165 |
1,495,021,279 |
|
Net
Assets Backing |
1,271,507,384 |
1,333,088,910 |
1,373,710,617 |
1,355,198,961 |
1,305,578,844 |
|
Shareholders'
Funds |
1,271,507,384 |
1,333,088,910 |
1,373,710,617 |
1,355,198,961 |
1,305,578,844 |
|
Total
Share Capital |
237,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
247,579,000 |
|
Total
Reserves |
1,033,928,384 |
1,085,509,910 |
1,126,131,617 |
1,107,619,961 |
1,057,999,844 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.70 |
0.68 |
0.84 |
1.02 |
0.86 |
|
Liquid
Ratio |
1.61 |
1.53 |
1.86 |
1.79 |
1.87 |
|
Current
Ratio |
1.98 |
1.86 |
2.26 |
2.33 |
2.32 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
33 |
43 |
35 |
55 |
31 |
|
Debtors
Ratio |
8 |
19 |
56 |
62 |
46 |
|
Creditors
Ratio |
6 |
14 |
11 |
3 |
1 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.11 |
0.12 |
0.12 |
0.22 |
0.13 |
|
Liabilities
Ratio |
0.39 |
0.41 |
0.36 |
0.48 |
0.36 |
|
Times
Interest Earned Ratio |
(0.96) |
(5.02) |
2.77 |
11.70 |
4.64 |
|
Assets
Backing Ratio |
5.87 |
5.96 |
6.20 |
6.71 |
6.04 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(1.04) |
(4.90) |
1.67 |
9.43 |
4.12 |
|
Net
Profit Margin |
(1.41) |
(3.67) |
1.07 |
6.81 |
15.09 |
|
Return
On Net Assets |
(0.56) |
(3.06) |
2.43 |
7.45 |
5.26 |
|
Return
On Capital Employed |
(0.55) |
(3.02) |
2.43 |
7.45 |
5.26 |
|
Return
On Shareholders' Funds/Equity |
(1.70) |
(3.05) |
1.11 |
6.03 |
17.31 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared by
: |
VNT |
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.