|
Report No. : |
344731 |
|
Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROYCE PHARMA MANUFACTURING SDN. BHD. |
|
|
|
|
Registered Office : |
7a, Pearl Court, 61, Jalan Thamby Abdullah,
7th Floor, 50470 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
26.04.2004 |
|
|
|
|
Com. Reg. No.: |
650435-X |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer and distributor of all kinds
of pharmaceutical products. |
|
|
|
|
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 : |
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. |
: |
650435-X |
||||
|
COMPANY NAME |
: |
ROYCE PHARMA MANUFACTURING SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
26/04/2004 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
7A, PEARL
COURT, 61, JALAN THAMBY ABDULLAH, 7TH FLOOR, 50470 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 1663, NILAI
INDUSTRIAL ESTATE, 71800 NILAI, NEGERI SEMBILAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
06-7995999 |
||||
|
FAX.NO. |
: |
06-7994999 |
||||
|
WEB SITE |
: |
WWW.ROYCEPHARMA.COM |
||||
|
CONTACT PERSON |
: |
MOHAMED AZMAN
BIN MOHAMED ARIFF ( CEO ) |
||||
|
INDUSTRY CODE |
: |
21001 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURER AND
DISTRIBUTOR OF ALL KINDS OF PHARMACEUTICAL PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 44,923,399
[2014] |
||||
|
NET WORTH |
: |
MYR 10,361,522
[2014] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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) manufacturer
and distributor of all kinds of pharmaceutical products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
31/12/2013 |
MYR 5,000,000.00 |
MYR 5,000,000.00 |
|
08/06/2005 |
MYR 5,000,000.00 |
MYR 3,000,000.00 |
|
15/09/2004 |
MYR 100,000.00 |
MYR 10,000.00 |
|
27/05/2004 |
MYR 100,000.00 |
MYR 3,000.00 |
|
27/04/2004 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ROYCE PHARMA BERHAD |
PT 1663, NILAI INDUSTRIAL ESTATE, 71800
NILAI, NEGERI SEMBILAN, MALAYSIA. |
650395P |
5,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
MOHAMED AZMAN BIN MOHAMED ARIFF. |
MALAYSIA |
600417-06-5387 |
N/A |
29/12/2005 |
|
NURFILZAH BINTI AHMAD SUKARDI |
MALAYSIA |
791110-07-5702 |
N/A |
N/A |
|
RADZMI BIN RAHMAT |
MALAYSIA |
511125-01-5623 |
N/A |
N/A |
|
RAMSEY RIZAL BIN RADZMI |
MALAYSIA |
820918-14-5099 |
N/A |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. ZAINAL ARIFF BIN TAN SRI MAHMOOD |
|
Address |
: |
8, JALAN SEMANTAN DUA, DAMANSARA HEIGHTS,
50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
550503-08-5517 |
|
Date of Birth |
: |
03/05/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/10/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. SITI ANURA BINTI ANUAR |
|
Address |
: |
1492, JALAN E3/2, TAMAN EHSAN KEPONG, 52100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
790209-14-5614 |
|
Date of Birth |
: |
09/02/1979 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/05/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
DATUK CHANDRASEKAR A/L SUPPIAH |
|
Address |
: |
10, LORONG DESA MURNI 2, TAMAN DESA, OFF JALAN
KELANG LAMA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6881119 |
|
New IC No |
: |
620630-10-6385 |
|
Date of Birth |
: |
30/06/1962 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/03/2015 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. ABDUL RAHMAN BIN ABDUL RAZAK |
|
Address |
: |
22, JALAN CANGGUNG, SEKSYEN 11/2F, 40100
SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6407939 |
|
New IC No |
: |
611025-08-5913 |
|
Date of Birth |
: |
25/10/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/03/2015 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ABDUL RAHMAN BIN ABDUL RAZAK |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
MOHAMED AZMAN BIN MOHAMED ARIFF |
|
Position |
: |
CEO |
AUDITOR
|
|
Auditor |
: |
BAKER TILLY MONTEIRO HENG |
|
Auditor' Address |
: |
22, JALAN TUN SAMBANTHAN 3, 50470 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. RAJA MANICKAM A/L K.V. GANAPATHY |
|
IC / PP No |
: |
A0405257 |
|
|
New IC No |
: |
620622-04-5017 |
|
|
Address |
: |
7-10-12, TAMAN ABADI INDAH, TAMAN DESA, 58100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
29/08/2005 |
FIRST DEBENTURE |
MALAYAN BANKING BERHAD |
MYR 5,000,000.00 |
Unsatisfied |
|
2 |
29/08/2005 |
SECOND DEBENTURE |
MALAYAN BANKING BERHAD |
MYR 15,351,301.00 |
Unsatisfied |
|
3 |
03/07/2008 |
DEED OF ASSIGNMENT OF CONTRACT PROCEEDS & MEMORANDUM OF DEPOSIT OF
FIXED DEPOSIT |
MALAYAN BANKING BERHAD |
MYR 6,000,000.00 |
Unsatisfied |
LITIGATION CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Product Brand Name |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE) |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
10 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturer and distributor
of all kinds of pharmaceutical products.
The Subject is a bumiputra company, is fully equipped with the state-of-the-art
facilities and experience in pharmaceutical manufacturing, marketing and
distribution.
The manufacturing plant, which is located at the Nilai Industrial Estate in
Nilai, Negeri Sembilan, has a built-up area of about 85,000 sq.ft. The factory
is equipped for large-scale manufacturing of creams and ointments, tablets,
capsules, liquid preparations, and powders and granules as well. The latest of
these include high-speed liquid fillers and a fluidized processor. The
laboratory is also equipped with state-of-the-art instruments for biochemical
and microbiological tests and experiments.
The Subject's commitment to the highest standards of quality is evident in its
management team which meets all requirements of the Malaysian Ministry of
Health and the World Health Organization (WHO) for Good Manufacturing Practice
(GMP).
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
06 7995999/ 6018 3509795 |
|
Current Telephone Number |
: |
06-7995999 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
LOT 1663, NILAI INDUSTRIAL
ESTATE,71800,NILAI,NEGERI SEMBILAN. |
|
Current Address |
: |
LOT 1663, NILAI INDUSTRIAL ESTATE, 71800
NILAI, NEGERI SEMBILAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 9th October 2015 we contacted one of the staff from the Subject and he
provided some information.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
67.55% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
100.08% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The higher profit could be attributed to the increase in
turnover. Generally the Subject was profitable. The favourable return on
shareholders' funds and return on net assets indicate that the Subject's
management was efficient in utilising the assets to generate returns. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Acceptable |
[ |
1.25 Times |
] |
|
|
The Subject has an adequate liquidity
position with its current liabilities well covered by its current assets.
With its net current assets, the Subject should be able to repay its short
term obligations. |
||||||
|
Solvency |
||||||
|
Liability Ratio |
: |
Unfavourable |
[ |
2.05 Times |
] |
|
|
The Subject has high liabilities ratio and
it may face financial difficulties if no additional capital is injected. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has
improved with higher turnover and profit. 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 liabilities level was high and its
going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates. |
||||||
|
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 |
|
|
21001 : Manufacture of medicinal active
substances to be used for their pharmacological properties in the manufacture
of medicaments |
|
|
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
|
|
ROYCE PHARMA MANUFACTURING SDN. BHD. |
|
Financial Year End |
2014-12-31 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
Months |
18 |
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 |
SUMMARY |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
44,923,399 |
22,070,518 |
17,820,125 |
2,081,619 |
37,984,463 |
|
Other Income |
- |
76,691 |
1,740,679 |
2,148,713 |
618,991 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
44,923,399 |
22,147,209 |
19,560,804 |
4,230,332 |
38,603,454 |
|
Costs of Goods Sold |
- |
(12,150,695) |
(11,850,781) |
(17,928,504) |
(22,763,383) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
9,996,514 |
7,710,023 |
(13,698,172) |
15,840,071 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
11,427,860 |
6,756,675 |
3,696,871 |
(237,065) |
4,104,090 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
11,427,860 |
6,756,675 |
3,696,871 |
(237,065) |
4,104,090 |
|
Taxation |
(4,428,208) |
(1,988,489) |
(1,226,233) |
(445,529) |
(1,205,990) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
6,999,652 |
4,768,186 |
2,470,638 |
(682,594) |
2,898,100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
(2,092,460) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
(2,092,460) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
14,361,522 |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(9,000,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,361,522 |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
7,515 |
25,035 |
14,637 |
70,895 |
|
Bankers' acceptance |
- |
221,381 |
214,657 |
188,930 |
219,236 |
|
Hire purchase |
- |
29,520 |
9,173 |
1,829 |
- |
|
Term loan / Borrowing |
- |
148,270 |
245,933 |
369,371 |
463,597 |
|
Others |
- |
- |
- |
77,690 |
68,885 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
406,686 |
494,798 |
652,457 |
822,613 |
|
|
- |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
- |
1,373,501 |
309,181 |
1,204,252 |
1,186,793 |
|
AMORTIZATION |
- |
262,500 |
262,500 |
23,250 |
262,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
1,636,001 |
571,681 |
1,227,502 |
1,449,293 |
|
|
============= |
============= |
============= |
============= |
============= |
|
ROYCE PHARMA MANUFACTURING SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
6,440,204 |
5,792,430 |
6,104,860 |
6,777,765 |
7,438,839 |
|
Intellectual property and license rights |
- |
- |
- |
1,575,000 |
1,837,500 |
|
Others |
- |
1,050,000 |
1,312,500 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
- |
1,050,000 |
1,312,500 |
1,575,000 |
1,837,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,440,204 |
6,842,430 |
7,417,360 |
8,352,765 |
9,276,339 |
|
Stocks |
- |
8,353,234 |
7,154,141 |
5,864,524 |
6,728,106 |
|
Contract work-in-progress |
- |
1,245,665 |
42,800 |
52,662 |
327,553 |
|
Trade debtors |
- |
10,410,978 |
7,333,824 |
9,545,450 |
9,696,511 |
|
Other debtors, deposits & prepayments |
- |
2,006,946 |
699,920 |
729,960 |
10,450 |
|
Short term deposits |
- |
623,229 |
770,452 |
1,167,912 |
701,125 |
|
Amount due from holding company |
- |
3,525,403 |
1,958,666 |
2,961,779 |
1,023,799 |
|
Amount due from related companies |
- |
1,884,575 |
- |
- |
- |
|
Cash & bank balances |
- |
4,668 |
16,601 |
20,478 |
46,988 |
|
Others |
- |
- |
252,546 |
279,247 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
25,138,279 |
28,054,698 |
18,228,950 |
20,622,012 |
18,534,532 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
31,578,483 |
34,897,128 |
25,646,310 |
28,974,777 |
27,810,871 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
- |
3,027,774 |
2,732,915 |
4,849,805 |
3,716,597 |
|
Other creditors & accruals |
- |
2,445,741 |
2,840,005 |
1,826,589 |
3,404,676 |
|
Hire purchase & lease creditors |
- |
40,387 |
37,348 |
11,754 |
- |
|
Bank overdraft |
- |
992,932 |
417,404 |
1,579,371 |
754,405 |
|
Short term borrowings/Term loans |
- |
630,623 |
841,802 |
1,813,408 |
1,695,283 |
|
Bill & acceptances payable |
- |
4,595,738 |
3,152,440 |
5,149,675 |
2,076,661 |
|
Amounts owing to holding company |
- |
1,987,375 |
- |
- |
- |
|
Amounts owing to subsidiary companies |
- |
4,378,944 |
3,628,842 |
4,328,799 |
3,857,603 |
|
Amounts owing to director |
- |
2,189,935 |
2,189,935 |
1,199,535 |
1,199,535 |
|
Provision for taxation |
- |
766,878 |
- |
- |
490,207 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
20,159,804 |
21,056,327 |
15,840,691 |
20,758,936 |
17,194,967 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
4,978,475 |
6,998,371 |
2,388,259 |
(136,924) |
1,339,565 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
11,418,679 |
13,840,801 |
9,805,619 |
8,215,841 |
10,615,904 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
Retained profit/(loss) carried forward |
5,361,522 |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,361,522 |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
10,361,522 |
12,361,870 |
7,593,684 |
5,123,046 |
5,805,640 |
|
Long term loans |
- |
853,137 |
1,372,986 |
2,171,207 |
3,935,721 |
|
Hire purchase creditors |
- |
113,254 |
135,194 |
77,162 |
- |
|
Deferred taxation |
- |
512,540 |
703,755 |
844,426 |
874,543 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,057,157 |
1,478,931 |
2,211,935 |
3,092,795 |
4,810,264 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
11,418,679 |
13,840,801 |
9,805,619 |
8,215,841 |
10,615,904 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
- |
627,897 |
787,053 |
1,188,390 |
748,113 |
|
Net Liquid Funds |
- |
(4,960,773) |
(2,782,791) |
(5,540,656) |
(2,082,953) |
|
Net Liquid Assets |
4,978,475 |
(1,354,863) |
(4,765,882) |
(6,001,448) |
(5,388,541) |
|
Net Current Assets/(Liabilities) |
4,978,475 |
6,998,371 |
2,388,259 |
(136,924) |
1,339,565 |
|
Net Tangible Assets |
11,418,679 |
12,790,801 |
8,493,119 |
6,640,841 |
8,778,404 |
|
Net Monetary Assets |
3,921,318 |
(2,833,794) |
(6,977,817) |
(9,094,243) |
(10,198,805) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
- |
7,163,361 |
4,191,669 |
415,392 |
4,926,703 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
- |
8,799,362 |
4,763,350 |
1,642,894 |
6,375,996 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
- |
7,226,071 |
5,957,174 |
10,802,577 |
8,462,070 |
|
Total Liabilities |
21,216,961 |
22,535,258 |
18,052,626 |
23,851,731 |
22,005,231 |
|
Total Assets |
31,578,483 |
34,897,128 |
25,646,310 |
28,974,777 |
27,810,871 |
|
Net Assets |
11,418,679 |
13,840,801 |
9,805,619 |
8,215,841 |
10,615,904 |
|
Net Assets Backing |
10,361,522 |
12,361,870 |
7,593,684 |
5,123,046 |
5,805,640 |
|
Shareholders' Funds |
10,361,522 |
12,361,870 |
7,593,684 |
5,123,046 |
5,805,640 |
|
Total Share Capital |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
Total Reserves |
5,361,522 |
7,361,870 |
2,593,684 |
123,046 |
805,640 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
- |
0.03 |
0.05 |
0.06 |
0.04 |
|
Liquid Ratio |
- |
0.94 |
0.70 |
0.71 |
0.69 |
|
Current Ratio |
1.25 |
1.33 |
1.15 |
0.99 |
1.08 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
- |
159 |
147 |
1,038 |
68 |
|
Debtors Ratio |
- |
172 |
150 |
1,674 |
93 |
|
Creditors Ratio |
- |
91 |
84 |
99 |
60 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
- |
0.58 |
0.78 |
2.11 |
1.46 |
|
Liabilities Ratio |
2.05 |
1.82 |
2.38 |
4.66 |
3.79 |
|
Times Interest Earned Ratio |
- |
17.61 |
8.47 |
0.64 |
5.99 |
|
Assets Backing Ratio |
2.28 |
2.56 |
1.70 |
1.33 |
1.76 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
25.44 |
30.61 |
20.75 |
(11.39) |
10.80 |
|
Net Profit Margin |
15.58 |
21.60 |
13.86 |
(32.79) |
7.63 |
|
Return On Net Assets |
100.08 |
51.76 |
42.75 |
5.06 |
46.41 |
|
Return On Capital Employed |
100.08 |
44.98 |
36.22 |
3.65 |
37.30 |
|
Return On Shareholders' Funds/Equity |
67.55 |
38.57 |
32.54 |
(13.32) |
49.92 |
|
Dividend Pay Out Ratio (Times) |
1.29 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
- |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.52 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
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.