|
Report No. : |
345960 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRIMA INTER-CHEM SDN. BHD. |
|
|
|
|
Formerly Known As : |
EURO INTER-CHEM SDN. BHD. (05/04/1989) |
|
|
|
|
Registered Office : |
13-A, Jalan Ss21/56b, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.04.2014 |
|
|
|
|
Date of Incorporation : |
05.04.1984 |
|
|
|
|
Com. Reg. No.: |
117521-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of pharmaceutical and chemicals products |
|
|
|
|
No. of Employees : |
64 [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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
117521-W |
||||
|
COMPANY NAME |
: |
PRIMA INTER-CHEM
SDN. BHD. |
||||
|
FORMER NAME |
: |
EURO INTER-CHEM SDN. BHD. (05/04/1989) |
||||
|
INCORPORATION DATE |
: |
05/04/1984 |
||||
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|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
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|
|
|
||||
|
REGISTERED ADDRESS |
: |
13-A, JALAN SS21/56B, DAMANSARA UTAMA,
47400 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
4, JALAN SUNGAI KAYU ARA 32/38, SECTION 32,
TAMAN BERJAYA INDUSTRIAL PARK, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-57406060 |
||||
|
FAX.NO. |
: |
03-57406061 |
||||
|
WEB SITE |
: |
WWW.PRIMAINTERCHEM.COM |
||||
|
CONTACT PERSON |
: |
KHOO KAH PHENG ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46691 46421 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PHARMACEUTICAL AND CHEMICALS
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,000,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 127,520,410 [2014] |
||||
|
NET WORTH |
: |
MYR 38,464,759 [2014] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
64 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
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) trading of pharmaceutical and chemicals products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share Capital
History
|
Date |
Authorised
Shared Capital |
Issue & Paid
Up Capital |
|
09/09/2014 |
MYR 5,000,000.00 |
MYR 2,000,000.00 |
|
29/04/1999 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
27/02/1995 |
MYR 1,000,000.00 |
MYR 600,000.00 |
|
21/09/1992 |
MYR 400,000.00 |
MYR 400,000.00 |
|
08/11/1991 |
MYR 250,000.00 |
MYR 250,000.00 |
|
27/12/1990 |
MYR 250,000.00 |
MYR 150,000.00 |
The major shareholder(s) of the
Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. KHOO KAH PHENG + |
604 SPRING VILLA, WANGSA BAIDURI, 47500
SUBANG JAYA, SELANGOR, MALAYSIA. |
520817-07-5197
4288041 |
1,000,000.00 |
50.00 |
|
MR. LIM KOOI FUI + |
33 JALAN BUKIT HIJAU EMPAT 26/24D, TAMAN
BUKIT SAGA, SEKSYEN 26, 40400 SHAH ALAM, SELANGOR, MALAYSIA. |
491124-05-5345
2472780 |
1,000,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
2,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MS. TEH WOOI HOON |
|
Address |
: |
604 SPRING VILLA, WANGSA BAIDURI, PETALING JAYA, 47500 SUBANG JAYA,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4712559 |
|
New IC No |
: |
541015-07-5374 |
|
Date of Birth |
: |
15/10/1954 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/07/2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MS. TEH POH HONG |
|
Address |
: |
33, LORONG HIJAU EMPAT 26/24D, TAMAN BUKIT SAGA, SECTION 26, 40400
SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
3240003 |
|
New IC No |
: |
500130-07-5248 |
|
Date of Birth |
: |
30/01/1950 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/07/2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. KHOO KAH PHENG |
|
Address |
: |
604 SPRING VILLA, WANGSA BAIDURI, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
4288041 |
|
New IC No |
: |
520817-07-5197 |
|
Date of Birth |
: |
17/08/1952 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
20/07/1985 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MR. LIM KOOI FUI |
|
Address |
: |
33 JALAN BUKIT HIJAU EMPAT 26/24D, TAMAN BUKIT SAGA, SEKSYEN 26, 40400
SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
2472780 |
|
New IC No |
: |
491124-05-5345 |
|
Date of Birth |
: |
24/11/1949 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/08/1989 |
|
1) |
Name of Subject |
: |
KHOO KAH PHENG |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
JB LAU & KHOO |
|
Auditor' Address |
: |
13-M, JALAN SS21/56B, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
MS. FOO LI LING |
|
|
|
|
|
|
|
New IC No |
: |
701111-07-5286 |
|
|
Address |
: |
40, JALAN BUNGA ANGGERIK 2, DATARAN UKAY, 68000 AMPANG, SELANGOR, MALAYSIA. |
Banking relations are
maintained principally with :
|
1) |
Name |
: |
BANK MUAMALAT MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
MALAYAN BANKING BHD |
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
1 |
07/01/1991 |
N/A |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 900,000.00 |
Unsatisfied |
|
2 |
20/11/1991 |
N/A |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 1,200,000.00 |
Unsatisfied |
|
3 |
10/02/1992 |
N/A |
BANK BUMIPUTRA MALASYIA BHD |
MYR 600,000.00 |
Unsatisfied |
|
4 |
09/12/1992 |
DEBENTURE |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 2,500,000.00 |
Unsatisfied |
|
5 |
09/12/1992 |
N/A |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 2,500,000.00 |
Unsatisfied |
|
6 |
09/06/1994 |
N/A |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 2,880,000.00 |
Unsatisfied |
|
7 |
09/06/1994 |
N/A |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 2,880,000.00 |
Unsatisfied |
|
8 |
10/02/1995 |
LOAN AGREEMENT
AND DEED OF ASSIGNMENT |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 250,000.00 |
Unsatisfied |
|
9 |
25/03/1995 |
FACILITY
AGREEMENT AND SUPPLEMENTAL DEED |
BANK BUMIPUTRAMALAYSIA BHD |
MYR 5,120,000.00 |
Unsatisfied |
|
10 |
25/03/1995 |
DEBENTURE |
BANK BUMIPUTRA MALAYSIA BHD |
MYR 5,120,000.00 |
Unsatisfied |
|
11 |
17/05/1996 |
MEMORANDUM OF
DEPOSIT AND LETTER OF SET OFF |
MALAYAN BANKING BERHAD |
MYR 530,000.00 |
Unsatisfied |
|
12 |
12/05/1997 |
COMPOSITE LOAN AGREEMENT
AND ASSIGNMENT |
ARAB-MALAYSIAN BANK BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
13 |
07/09/2000 |
FACILITIES
AGREEMENT AND CHARGE |
BUMIPUTRA-COMMERCE BANK BERHAD |
MYR 5,900,000.00 |
Unsatisfied |
|
14 |
02/06/2004 |
GENERAL FACILITY
AGREEMENT AND DEBENTURE |
BUMIPUTRA-COMMERCE BANK BERHAD |
MYR 4,840,000.00 |
Unsatisfied |
|
15 |
24/04/2007 |
FACILITY
AGREEMENT CHARGE AND DEBENTURE |
CIMB BANK BERHAD |
MYR 4,000,000.00 |
Unsatisfied |
|
16 |
02/12/2008 |
MEMORANDUM OF DEPOSIT
AND NEGOTIABLE CERTIFICATE OF DEPOSIT |
MALAYAN BANKING BERHAD |
MYR 5,800,000.00 |
Unsatisfied |
* A check has been conducted in our databank against 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 |
|
|
Overseas |
: |
YES |
|
|
Import Countries |
: |
INDIA,CHINA |
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
PHARMACEUTICAL AND CHEMICAL PRODUCTS
|
|
|
|
|
|
|
|
Member(s) / Affiliate(s) |
: |
SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) MALAYSIA FOOD & BEVERAGE INDUSTRY |
|
|
|
|
|
|
|
Ownership of premises |
: |
OWNED
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
|
|
|
|
|
COMPANY |
64 |
55 |
50 |
50 |
55 |
|
|
|
|
|
Branch |
: |
YES
|
|
|
No of Branches |
: |
3
|
|
|
|
|
|
|
|
Branch(es) |
: |
2-5-34, HARBOUR TRADE CENTRE, 2, GAT LEBUH MACCALUM, 10300 GEORGE TOWN, PULAU PINANG, MALAYSIA. Tel No: 04-2633307 Fax No: 04-2634150 20-A, JALAN DEDAP 24, TAMAN JOHOR JAYA, 81100 JOHOR BAHRU, JOHOR, MALAYSIA. Tel No: 07-3541202 Fax No: 07-3541351 RUKAN CLUSTER MANYAR, JLMANYAR PERMAI 10, BLOCK 7, A/P, PIK, JAKARTA UTARA, 14460, INDONESIA. Tel No: +62-56947686 Fax No: +62-56947386
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of pharmaceutical
and chemicals products.
The Subject's products range includes vitamins, antiseptics, antibiotics,
veterinary drugs, food chemicals, industrial chemical, bulk drugs and others.
Besides that, the Subject's products comes in the form of powder, liquid and
oilment/cream.
We were informed that the Subject sells its products in drums, bottles, bags
and others.
The Subject is also able to source the required chemicals for its customers.
The Subject also providing transportation services and keep its products safely
for timely delivery to its clients.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-57406060 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
4, JALAN SUNGAI KAYU ARA 32/38, SECTION 32, TAMAN BERJAYA INDUSTRIAL PARK,40460,SHAH ALAM,SELANGOR. |
|
Current Address |
: |
4, JALAN SUNGAI KAYU ARA 32/38, SECTION 32, TAMAN BERJAYA INDUSTRIAL PARK, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
On 16th October 2015 we contacted one of the staff from the Subject and he
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
7.45% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
6.74% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
19.22% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.60% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market
condition. The Subject's management have been efficient in controlling its operating
costs. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
86 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
22 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's debtors ratio was
high. The Subject should tighten its credit control and improve its
collection period. 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 |
[ |
1.65 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.37 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
16.11 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.42 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject was able to service the interest.
The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment : |
|
|
|
|
|
|
|
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. With
the favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : STRONG |
||||||
|
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 |
|
|
46691 : Wholesale of industrial chemicals |
|
|
46421 : Wholesale of pharmaceutical and
medical goods |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade is expected to increase 7.1% in 2015 (2014:
7.7%) driven by strong domestic consumption and higher tourist arrivals
following the Malaysia Year of Festivals 2015. Besides, in 2014, the
wholesale and retail trade subsector is expected to increase 7.7% (2013:
6.4%) supported by strong domestic consumption. |
|
|
|
|
|
According to Retail Group Malaysia (RGM), the pharmacy and personal
care sub-sector had slow growth rate of 2.6% for the first quarter of 2014,
while "other specialty stores" grew at a rate of 3.5%. During the
first quarter of 2014, fashion and fashion accessories recorded a sustainable
growth of 6.3% as compared with the same period last year (3.6%). |
|
|
|
|
|
The retail segment increased 10.1% (January - June 2013: 7.1%) attributed
to brisk sales in retail outlets such as hypermarkets and large-scale
superstores. Since the launch of the Small Retailer Transformation programme
(TUKAR) in January 2011 up to end-July 2014, 1,761 small retailer stores
(end-July 2013: 1,381) have been modernized to improve their competitiveness.
In addition, the strong growth of the retail segment was supported by
1Malaysia Unified Sales held from 29 June 2014 to 1 September 2014 to attract
foreign and local tourists to shop in Malaysia. Meanwhile, the wholesale
segment expanded 8.2% (January - June 2013: 4.9%) due to higher sales of
non-agricultural intermediate products, such as petrol, diesel, lubricants
and household goods. Furthermore, food and beverage outlets, laundry outlets,
car wash centres, abd health and beauty outlets took a hit from the water
rationing in the Klang Valley since February this year. |
|
|
|
|
|
On the other hand, in 2014, Malaysia's total trade is expected to grow
5.2% to RM1.44 trillion (2013: 4.5%; RM1.37 trillion) underpinned by recovery
in key advanced economies, resilient regional demand, and partly due to the
base effect arising from sluggish exports in the corresponding period last
year. Gross exports are anticipated to expand 6% to RM762.8 billion while
import decreased 4.3% to RM677.2 billion (2013: 2.4%; RM719.8 billion; 7%; RM
649.1 billion). Consequently, the trade surplus is expected to be higher at
RM85.6 billion or 7.9% of GDP in 2014 (2013: RM70.7 billion; 7.2%). |
|
|
|
|
|
Furthermore, gross exports rebounded by 10.7% to RM441.3 billion
during the first seven months of 2014 (January - July 2013: -2.8%; RM398.5
billion), with manufactured and mining exports rising at a double digit pace
of 11.4% and 12.5%. Shipment of agriculture products grew at a slower pace of
2.7%, primarily due to lower receipts of crude rubber (-24.6%) while export
growth of other commodities remained steady. Consequently, exports of
manufactured and mining products are expected to grow 6.1% and 6.4% in 2014
(2013: 5.1%; 3.3%). Meanwhile, agriculture exports are expected to rebound
sharply by 4.5% in 2014 (2013: -14.4%) despite moderating commodity prices.
Malaysia's top 3 trading partners are China, Singapore, and Japan. |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by domestic
consumption. Therefore the wholesale and retail sector plays a crucial role
in driving Malaysia's growth over the next decade despite the ongoing global
economic slowdown. By 2020, Malaysia's wholesale and retail sector is
expected to boost the country's total Gross National Income (GNI) by RM156
billion, creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY
OUTLOOK : Average Growth |
|
Incorporated in 1984, the Subject is a Private Limited company, focusing on trading of pharmaceutical and chemicals products. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. A paid up capital of MYR 2,000,000 allows the Subject to expand its business more comfortably. We considered that the Subject's business position in the market is much dependent on the efforts of its directors.
Over the years, the Subject should have build up its clientele base and
received supports from its regular customers. Investigation revealed that the
Subject's interest lies mostly in the local market. Thus, any adverse changes
to the local economy might have a negative impact on the Subject's business
performance. Being a moderate size company, the Subject has a total workforce
of 64 employees in its business operations. Overall, we regard that the
Subject's management capability is average. This indicates that the Subject has
greater potential to improve its business performance and raising income for
the Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Return on shareholders' funds of the
Subject was at an acceptable range which indicated that the management was
efficient in utilising its funds to generate income. The Subject is in good
liquidity position with its current liabilities well covered by it current
assets. Hence, it has sufficient working capital to meet its short term
financial obligations. Being a lowly geared company, the Subject is exposed to
low financial risk as it is mainly dependent on its internal funds to finance
its business needs. Given a positive net worth standing at MYR 38,464,759, the
Subject should be able to maintain its business in the near terms.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the Subject
has a good control over its resources.
Overall, the Subject's payment habit is good as the Subject has a good credit
control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the Subject is expected to benefit from the favourable
outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
promptly.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
PRIMA INTER-CHEM
SDN. BHD. |
|
Financial Year End |
2014-04-30 |
2013-04-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
|
|
|
|
TURNOVER |
127,520,410 |
118,676,751 |
|
|
---------------- |
---------------- |
|
Total Turnover |
127,520,410 |
118,676,751 |
|
Costs of Goods Sold |
(106,549,932) |
(98,878,771) |
|
|
---------------- |
---------------- |
|
Gross Profit |
20,970,478 |
19,797,980 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
10,007,133 |
9,375,378 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
10,007,133 |
9,375,378 |
|
Taxation |
(2,614,320) |
(2,361,890) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
7,392,813 |
7,013,488 |
|
|
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
32,571,946 |
29,358,458 |
|
|
---------------- |
---------------- |
|
As restated |
32,571,946 |
29,358,458 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
39,964,759 |
36,371,946 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(3,500,000) |
(3,800,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
36,464,759 |
32,571,946 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
Hire purchase |
6,545 |
- |
|
Others |
655,856 |
711,977 |
|
|
---------------- |
---------------- |
|
|
662,401 |
711,977 |
|
|
============= |
============= |
|
|
|
|
|
DEPRECIATION (as per notes to P&L) |
376,001 |
312,508 |
|
|
---------------- |
---------------- |
|
|
376,001 |
312,508 |
|
|
============= |
============= |
|
PRIMA INTER-CHEM
SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
6,306,200 |
6,052,149 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
6,306,200 |
6,052,149 |
|
|
|
|
|
Stocks |
16,948,024 |
14,893,389 |
|
Trade debtors |
29,917,377 |
25,738,379 |
|
Other debtors, deposits & prepayments |
186,437 |
119,350 |
|
Short term deposits |
5,287,371 |
6,200,000 |
|
Cash & bank balances |
3,696,286 |
4,067,642 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
56,035,495 |
51,018,760 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
62,341,695 |
57,070,909 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Trade creditors |
6,318,322 |
4,696,902 |
|
Other creditors & accruals |
635,581 |
724,681 |
|
Hire purchase & lease creditors |
101,174 |
- |
|
Other borrowings |
2,114,138 |
3,102,881 |
|
Bill & acceptances payable |
14,091,040 |
13,646,773 |
|
Provision for taxation |
421,674 |
259,526 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
23,681,929 |
22,430,763 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
32,353,566 |
28,587,997 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
38,659,766 |
34,640,146 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
2,000,000 |
2,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
2,000,000 |
2,000,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
36,464,759 |
32,571,946 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
36,464,759 |
32,571,946 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
38,464,759 |
34,571,946 |
|
|
|
|
|
Hire purchase creditors |
26,007 |
- |
|
Deferred taxation |
169,000 |
68,200 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
195,007 |
68,200 |
|
|
---------------- |
---------------- |
|
|
38,659,766 |
34,640,146 |
|
|
============= |
============= |
|
PRIMA INTER-CHEM
SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
8,983,657 |
10,267,642 |
|
Net Liquid Funds |
(5,107,383) |
(3,379,131) |
|
Net Liquid Assets |
15,405,542 |
13,694,608 |
|
Net Current Assets/(Liabilities) |
32,353,566 |
28,587,997 |
|
Net Tangible Assets |
38,659,766 |
34,640,146 |
|
Net Monetary Assets |
15,210,535 |
13,626,408 |
|
|
|
|
|
PROFIT &
LOSS ITEMS |
|
|
|
Earnings Before Interest & Tax (EBIT) |
10,669,534 |
10,087,355 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
11,045,535 |
10,399,863 |
|
|
|
|
|
BALANCE SHEET
ITEMS |
|
|
|
Total Borrowings |
16,332,359 |
16,749,654 |
|
Total Liabilities |
23,876,936 |
22,498,963 |
|
Total Assets |
62,341,695 |
57,070,909 |
|
Net Assets |
38,659,766 |
34,640,146 |
|
Net Assets Backing |
38,464,759 |
34,571,946 |
|
Shareholders' Funds |
38,464,759 |
34,571,946 |
|
Total Share Capital |
2,000,000 |
2,000,000 |
|
Total Reserves |
36,464,759 |
32,571,946 |
|
|
|
|
|
LIQUIDITY
(Times) |
|
|
|
Cash Ratio |
0.38 |
0.46 |
|
Liquid Ratio |
1.65 |
1.61 |
|
Current Ratio |
2.37 |
2.27 |
|
|
|
|
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
Stock Ratio |
49 |
46 |
|
Debtors Ratio |
86 |
79 |
|
Creditors Ratio |
22 |
17 |
|
|
|
|
|
SOLVENCY RATIOS
(Times) |
|
|
|
Gearing Ratio |
0.42 |
0.48 |
|
Liabilities Ratio |
0.62 |
0.65 |
|
Times Interest Earned Ratio |
16.11 |
14.17 |
|
Assets Backing Ratio |
19.33 |
17.32 |
|
|
|
|
|
PERFORMANCE
RATIO (%) |
|
|
|
Operating Profit Margin |
7.85 |
7.90 |
|
Net Profit Margin |
5.80 |
5.91 |
|
Return On Net Assets |
27.60 |
29.12 |
|
Return On Capital Employed |
27.53 |
29.12 |
|
Return On Shareholders' Funds/Equity |
19.22 |
20.29 |
|
Dividend Pay Out Ratio (Times) |
0.47 |
0.54 |
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 : |
DPT |
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.