|
Report No. : |
345671 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEGAFOAM CONTAINERS |
|
|
|
|
Registered Office : |
271, Room A, Jalan Maarof, Bangsar, 59000 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
14.11.1994 |
|
|
|
|
Com. Reg. No.: |
323349-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacture of plastic foam products. |
|
|
|
|
No. of Employees : |
300 [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 |
EXECUTIVE SUMMARY |
|
REGISTRATION NO. |
: |
323349-M |
||||
|
COMPANY NAME |
: |
MEGAFOAM CONTAINERS ENTERPRISE SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
14/11/1994 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
271, ROOM A, JALAN MAAROF, BANGSAR, 59000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 6105, JALAN HAJI SALLEH, OFF JALAN MERU, 41050 KLANG, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-33928018 |
||||
|
FAX.NO. |
: |
03-33928200 |
||||
|
EMAIL |
: |
ENQUIRY@MEGAFOAM.COM |
||||
|
WEB SITE |
: |
WWW.MEGAFOAM.COM |
||||
|
CONTACT PERSON |
: |
IRENE WONG FOONG HOW ( DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
22203 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF PLASTIC FOAM PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 300,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 33,626,394 [2014] |
||||
|
NET WORTH |
: |
MYR 22,748,228 [2014] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
300 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
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) manufacture of
plastic foam products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is FOAM POLYSTYRENE
ENTERPRISE SDN. BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/06/2014 |
MYR 500,000.00 |
MYR 300,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FOAM POLYSTYRENE ENTERPRISE SDN. BHD. |
LOT 6105, JALAN HAJI SALLEH, OFF JALAN MERU, 41050 KLANG, SELANGOR,
MALAYSIA. |
106637D |
300,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
300,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
YAP MAU PHAY |
|
Address |
: |
1885, PADANG STREET, JINJANG NORTH, 52000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5485249 |
|
New IC No |
: |
581106-10-6005 |
|
Date of Birth |
: |
06/11/1958 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
14/11/1994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. YAP BEO SING |
|
Address |
: |
LOT 3, JALAN LADA HITAM 1, LORONG 16/12A, SEKSYEN 16, 40200 SHAH ALAM,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4876841 |
|
New IC No |
: |
550103-10-5785 |
|
Date of Birth |
: |
03/01/1955 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
14/11/1994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MS. WONG FOONG HOW |
|
Address |
: |
1885, PADANG STREET, JINJANG NORTH, 52000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5990418 |
|
New IC No |
: |
601102-08-5206 |
|
Date of Birth |
: |
02/11/1960 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
14/11/1994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
YAP SEONG ONN |
|
Address |
: |
1885, PADANG STREET, JINJANG NORTH, 52000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4417372 |
|
New IC No |
: |
530203-10-5813 |
|
Date of Birth |
: |
03/02/1953 |
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
14/11/1994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name of Subject |
: |
IRENE WONG FOONG HOW |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
YAP YEN TING |
|
|
Position |
: |
FINANCE MANAGER |
|
|
|
|
|
|
3) |
Name of Subject |
: |
YAP YEN YEE |
|
|
Position |
: |
EXPORT MANAGER |
|
|
|
|
|
AUDITOR |
|
Auditor |
: |
GUAN & ASSOCIATES |
|
Auditor' Address |
: |
271, ROOM B, JALAN MAAROF, BANGSAR, 59000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
|
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MR. TAN KIM HUI |
|
|
IC / PP No |
: |
A3438796 |
|
|
New IC No |
: |
760613-01-6729 |
|
|
Address |
: |
271, JALAN MAAROF, BANGSAR, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
MS. ALICE NG LEE FONG |
|
|
IC / PP No |
: |
A0671072 |
|
|
New IC No |
: |
670409-01-6036 |
|
|
Address |
: |
271, JALAN MAAROF, BANGSAR, 59000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
RHB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
27/02/1995 |
N/A |
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR 422,000.00 |
Satisfied |
|
2 |
09/03/1999 |
DEBENTURE |
RHB BANK BERHAD |
MYR 615,000.00 |
Unsatisfied |
|
3 |
29/11/2000 |
SECOND DEBENTURE |
RHB BANK BERHAD |
MYR 600,000.00 |
Unsatisfied |
|
4 |
17/01/2001 |
N/A |
BANK INDUSTRI MALAYSIA TEKNOLOGI BERHAD |
MYR 500,000.00 |
Satisfied |
|
5 |
05/02/2001 |
SPECIFIC DEBENTURE |
RHB BANK BERHAD |
MYR 600,000.00 |
Unsatisfied |
|
6 |
13/12/2001 |
N/A |
BANK INDUSTRI TEKNOLOGI MALAYSIA BERHAD |
MYR 460,000.00 |
Satisfied |
|
7 |
05/09/2002 |
N/A |
BANK INDUSTRI TEKNOLOGI MALAYSIA BERHAD |
MYR 750,000.00 |
Satisfied |
|
8 |
03/01/2003 |
SPECIFIC DEBENTURE |
RHB BANK BERHAD |
MYR 520,000.00 |
Unsatisfied |
|
9 |
04/06/2003 |
DEBENTURE |
RHB BANK BERHAD |
MYR 1,290,000.00 |
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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS |
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Product Brand Name |
: |
|
|
|
|
|
|
|
|
Competitor(s) |
: |
FOAM-PACKAGING INDUSTRIES SDN BHD
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) SMALL & MEDIUM ENTERPRISE |
|
|
|
|
|
|
|
Ownership of premises |
: |
LEASED/RENTED
|
|
|
Shifts |
: |
2 SHIFTS
|
|
|
|
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
|
|
|
|
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
300 |
250 |
250 |
300 |
200 |
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of plastic
foam products.
The Subject is manufacturer of single-use food service products for serving
food and beverages made from plastic and foam.
The Subject's products and services are includes as follows:
* Thermal Cup range include a selection of matching lids and offer good thermal
insulation properties that keep hot food warm and cold beverages chilled.
* Juice Cup range with fill capacity from 6oz (170ml) to 22oz (620ml) offers
good choice for ice and cold drinks.
* Portion Cup with fill capacity 0.5oz (15ml) / 1oz (30ml) / 1.5oz (45ml) / 2oz
(55ml) / 4oz (120ml) / 5oz (140ml).
* Customised Printing with fancy and colourful patterns that can be printed
onto cups, containers and bowls for brand promotions.
* Customised Design Products with competitive tooling charge and unit cost.
* Ice-Cream Boxes with Internal Lining/ Cool Boxes, paper cup lids
* Custom Pack Private Branding.
The Subject utilizes advanced automated and semi-automated machines to ensure
production of high quality products.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-33928018 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
LOT 6105, JALAN HAJI SALLEH, OFF JALAN MERU,41050,KLANG,SELANGOR. |
|
Current Address |
: |
LOT 6105, JALAN HAJI SALLEH, OFF JALAN MERU, 41050 KLANG, SELANGOR,
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 |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
6.69% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
8.73% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The
Subject's management have been efficient in controlling its operating costs.
The unfavourable return on shareholders' funds could indicate that the
Subject was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Current Ratio |
: |
Favourable |
[ |
5.04 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject was in good 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 |
: |
Favourable |
[ |
0.23 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liabilities ratio has minimised the Subject's financial risk. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 has a low liabilities ratio. It's liabilities were low and was not
vulnerable to the financial risk. |
||||||
|
|
|
|
|
|
|
|
|
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 |
3.2 |
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 |
|
|
22203 : Manufacture of plastic articles for the packing of goods |
|
|
|
|
|
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 |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
MEGAFOAM CONTAINERS ENTERPRISE SDN. BHD. |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
33,626,394 |
33,622,557 |
29,739,462 |
27,494,449 |
25,987,304 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
33,626,394 |
33,622,557 |
29,739,462 |
27,494,449 |
25,987,304 |
|
Costs of Goods Sold |
- |
(28,643,952) |
(26,668,857) |
(24,858,392) |
(21,643,213) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
- |
4,978,605 |
3,070,605 |
2,636,057 |
4,344,091 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,994,992 |
1,932,876 |
(360,383) |
(442,390) |
830,871 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
1,994,992 |
1,932,876 |
(360,383) |
(442,390) |
830,871 |
|
Taxation |
(474,143) |
(80,109) |
(330,830) |
(17,984) |
(86,500) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
1,520,849 |
1,852,767 |
(691,213) |
(460,374) |
744,371 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
19,481,828 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
19,481,828 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
22,448,228 |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
22,448,228 |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Hire purchase |
- |
27,065 |
27,058 |
41,872 |
91,029 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
27,065 |
27,058 |
41,872 |
91,029 |
|
|
- |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
DEPRECIATION (as per notes to P&L) |
- |
1,106,564 |
1,832,715 |
2,137,314 |
2,269,516 |
|
AMORTIZATION |
- |
100 |
100 |
100 |
100 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
1,106,664 |
1,832,815 |
2,137,414 |
2,269,616 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE SHEET |
|
MEGAFOAM CONTAINERS ENTERPRISE SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
1,763,022 |
2,546,777 |
3,338,403 |
3,897,375 |
5,175,239 |
|
|
|
|
|
|
|
|
Trademarks |
- |
400 |
500 |
600 |
700 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
- |
400 |
500 |
600 |
700 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
1,763,022 |
2,547,177 |
3,338,903 |
3,897,975 |
5,175,939 |
|
|
|
|
|
|
|
|
Stocks |
- |
3,499,350 |
4,046,786 |
2,653,061 |
3,772,928 |
|
Contract work-in-progress |
- |
25,589 |
37,588 |
- |
- |
|
Trade debtors |
- |
2,424,202 |
2,486,394 |
2,651,668 |
1,769,114 |
|
Other debtors, deposits & prepayments |
- |
268,914 |
272,674 |
368,110 |
347,658 |
|
Short term deposits |
- |
1,771,358 |
1,235,198 |
1,198,428 |
1,145,227 |
|
Amount due from holding company |
- |
6,948,982 |
7,571,739 |
6,360,724 |
5,803,276 |
|
Cash & bank balances |
- |
7,451,449 |
3,277,478 |
4,949,507 |
6,115,611 |
|
Others |
- |
1,498 |
306,795 |
517,125 |
266,231 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
26,301,485 |
22,391,342 |
19,234,652 |
18,698,623 |
19,220,045 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
28,064,507 |
24,938,519 |
22,573,555 |
22,596,598 |
24,395,984 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
- |
2,493,937 |
1,735,847 |
1,259,608 |
2,352,673 |
|
Other creditors & accruals |
- |
583,592 |
547,502 |
533,676 |
294,447 |
|
Hire purchase & lease creditors |
- |
170,387 |
282,019 |
314,249 |
603,344 |
|
Amounts owing to director |
- |
226,221 |
226,221 |
226,221 |
453,415 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
5,216,163 |
3,474,137 |
2,791,589 |
2,333,754 |
3,703,879 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
21,085,322 |
18,917,205 |
16,443,063 |
16,364,869 |
15,516,166 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
22,848,344 |
21,464,382 |
19,781,966 |
20,262,844 |
20,692,105 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
22,448,228 |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
22,448,228 |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
22,748,228 |
21,227,379 |
19,374,612 |
20,065,825 |
20,526,199 |
|
|
|
|
|
|
|
|
Hire purchase creditors |
- |
237,003 |
407,354 |
197,019 |
165,906 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
100,116 |
237,003 |
407,354 |
197,019 |
165,906 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
22,848,344 |
21,464,382 |
19,781,966 |
20,262,844 |
20,692,105 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
MEGAFOAM CONTAINERS ENTERPRISE SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
- |
9,222,807 |
4,512,676 |
6,147,935 |
7,260,838 |
|
Net Liquid Funds |
- |
9,222,807 |
4,512,676 |
6,147,935 |
7,260,838 |
|
Net Liquid Assets |
21,085,322 |
15,417,855 |
12,396,277 |
13,711,808 |
11,743,238 |
|
Net Current Assets/(Liabilities) |
21,085,322 |
18,917,205 |
16,443,063 |
16,364,869 |
15,516,166 |
|
Net Tangible Assets |
22,848,344 |
21,463,982 |
19,781,466 |
20,262,244 |
20,691,405 |
|
Net Monetary Assets |
20,985,206 |
15,180,852 |
11,988,923 |
13,514,789 |
11,577,332 |
|
PROFIT & LOSS ITEMS |
|
|
|
|
|
|
Earnings Before Interest & Tax (EBIT) |
- |
1,959,941 |
(333,325) |
(400,518) |
921,900 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
- |
3,066,605 |
1,499,490 |
1,736,896 |
3,191,516 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
- |
407,390 |
689,373 |
511,268 |
769,250 |
|
Total Liabilities |
5,316,279 |
3,711,140 |
3,198,943 |
2,530,773 |
3,869,785 |
|
Total Assets |
28,064,507 |
24,938,519 |
22,573,555 |
22,596,598 |
24,395,984 |
|
Net Assets |
22,848,344 |
21,464,382 |
19,781,966 |
20,262,844 |
20,692,105 |
|
Net Assets Backing |
22,748,228 |
21,227,379 |
19,374,612 |
20,065,825 |
20,526,199 |
|
Shareholders' Funds |
22,748,228 |
21,227,379 |
19,374,612 |
20,065,825 |
20,526,199 |
|
Total Share Capital |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
Total Reserves |
22,448,228 |
20,927,379 |
19,074,612 |
19,765,825 |
20,226,199 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
- |
2.65 |
1.62 |
2.63 |
1.96 |
|
Liquid Ratio |
- |
5.44 |
5.44 |
6.88 |
4.17 |
|
Current Ratio |
5.04 |
6.45 |
6.89 |
8.01 |
5.19 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
- |
38 |
50 |
35 |
53 |
|
Debtors Ratio |
- |
26 |
31 |
35 |
25 |
|
Creditors Ratio |
- |
32 |
24 |
18 |
40 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
- |
0.02 |
0.04 |
0.03 |
0.04 |
|
Liabilities Ratio |
0.23 |
0.17 |
0.17 |
0.13 |
0.19 |
|
Times Interest Earned Ratio |
- |
72.42 |
(12.32) |
(9.57) |
10.13 |
|
Assets Backing Ratio |
76.16 |
71.55 |
65.94 |
67.54 |
68.97 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
5.93 |
5.75 |
(1.21) |
(1.61) |
3.20 |
|
Net Profit Margin |
4.52 |
5.51 |
(2.32) |
(1.67) |
2.86 |
|
Return On Net Assets |
8.73 |
9.13 |
(1.68) |
(1.98) |
4.46 |
|
Return On Capital Employed |
8.73 |
9.06 |
(1.66) |
(1.95) |
4.33 |
|
Return On Shareholders' Funds/Equity |
6.69 |
8.73 |
(3.57) |
(2.29) |
3.63 |
|
Dividend Pay Out Ratio (Times) |
- |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
- |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.