|
Report No. : |
346516 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASF PETRONAS CHEMICALS SDN. BHD. |
|
|
|
|
Registered Office : |
The Gardens North Tower, Mid Valley City, Lingkaran
Syed Putra, Level 18, 59200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
451307-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Chemical and Other Related
Products. |
|
|
|
|
No. of Employee : |
600 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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. |
: |
451307-K |
||||
|
COMPANY NAME |
: |
BASF PETRONAS CHEMICALS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/10/1997 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
THE GARDENS NORTH TOWER, MID VALLEY CITY, LINGKARAN
SYED PUTRA, LEVEL 18, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
2, JALAN ASTAKA U8/87, BUKIT JELUTONG
SEKSYEN U8, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-78412200 |
||||
|
FAX.NO. |
: |
03-78466624 |
||||
|
EMAIL |
: |
INFO.SERVICE@BASF-PETRONAS.COM.MY |
||||
|
WEB SITE |
: |
WWW.BASF-PETRONAS.COM.MY |
||||
|
CONTACT PERSON |
: |
STEFAN FRANZ BECKMANN ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
20119 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF CHEMICAL AND OTHER RELATED
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR
2,400,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,021,595,000.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 2,840,346,000 [2014] |
||||
|
NET WORTH |
: |
MYR 1,577,768,000 [2014] |
||||
|
M1000 OVERALL RANKING |
: |
199[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
8[2011] |
||||
|
STAFF STRENGTH |
: |
600 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) manufacturing
of chemical and other related products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication,
the Subject's ranking are as follows: |
|
|||||
|
||||||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
2004 |
|
|
OVERALL RANKING |
199 |
114 |
109 |
179 |
278 |
|
|
INDUSTRY RANKING |
8 |
3 |
4 |
3 |
6 |
|
The immediate holding company of the Subject is BASF NEDERLAND B.V., a company
incorporated in NETHERLANDS.
The ultimate holding company of the Subject is BASF SE, a company
incorporated in GERMANY.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
16/06/2015 |
MYR 2,400,000,000.00 |
MYR 1,021,595,000.00 |
|
19/12/2014 |
MYR 2,400,000,000.00 |
MYR 1,019,420,000.00 |
|
21/12/2000 |
MYR 2,400,000,000.00 |
MYR 1,014,000,000.00 |
|
06/12/1999 |
MYR 2,400,000,000.00 |
MYR 709,180,000.00 |
|
30/11/1999 |
MYR 2,400,000,000.00 |
MYR 700,000,000.00 |
|
15/12/1998 |
MYR 2,400,000,000.00 |
MYR 234,749,000.00 |
|
14/07/1998 |
MYR 2,400,000,000.00 |
MYR 72,000,000.00 |
|
26/11/1997 |
MYR 2,400,000,000.00 |
MYR 2,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BASF NEDERLAND B.V. |
GRONINGENSINGEL 1, 6835, EA ARNHEM,
NETHERLANDS. |
09022883 |
612,957.00 |
60.00 |
|
PETRONAS CHEMICALS GROUP BERHAD |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR
CITY CENTRE, 50088 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
408,638.00 |
40.00 |
|
--------------- |
------ |
|||
|
1,021,595.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
BASF AKTIENGESELLSCHAFT |
N/A |
XLZ000014457 |
608,400.00 |
06/04/2009 |
|
BASF SE |
N/A |
XLZ00212321 |
N/A |
06/10/2010 |
|
PETROLIAM NASIONAL BERHAD (PETRONAS) |
MALAYSIA |
20076K |
405,600.00 |
27/06/2011 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
DR TORSTEN PENKUHN |
|
Address |
: |
34, DAKOTA CRESCENT, 19-01, DAKOTA
RESIDENCE, 399936, SINGAPORE. |
|
IC / PP No |
: |
C4KH5HP60 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/01/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
DATUK SAZALI BIN HAMZAH |
|
Address |
: |
80, 9/4 JALAN SERI PUTRA, BANDAR SERI PUTRA,
BANGI, 43000 KAJANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
660501-01-5491 |
|
Date of Birth |
: |
01/05/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/05/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
GOPALAN PILLAY |
|
Address |
: |
FLAT A, 33/F, TOWER 2, 23, OLD PEAK ROAD,
DYNASTY COURT, MID LEVELS, HONG KONG. |
|
IC / PP No |
: |
M00042411 |
|
Nationality |
: |
SOUTH AFRICAN |
|
Date of Appointment |
: |
07/05/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
DR STEFAN FRANZ BECKMANN |
|
Address |
: |
UNIT A-9-1, ONE MENERUNG, 1, JALAN
MENERUNG, BANGSAR, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
C8X06VM3C |
|
Date of Appointment |
: |
01/03/2014 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. MD ARIFF BIN MAHMOOD |
|
Address |
: |
4, JALAN DUTA U1/12A, SEKSYEN U1, GLENHILL SAUJANA,
40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6925898 |
|
New IC No |
: |
621119-01-5659 |
|
Date of Birth |
: |
19/11/1962 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/05/2015 |
DIRECTOR 6
|
Name Of Subject |
: |
PROFESSOR DR. RAINER DIERCKS |
|
Address |
: |
PHILIPP-MELANCHTHON-STRABE 21, SPEYER,
67346, GERMANY. |
|
IC / PP No |
: |
C2ZWL38K0 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
24/02/2010 |
|
1) |
Name of Subject |
: |
STEFAN FRANZ BECKMANN |
|
Position |
: |
MANAGING DIRECTOR |
AUDITOR
|
|
Auditor |
: |
KPMG |
|
Auditor' Address |
: |
KPMG TOWER, 8, FIRST AVENUE, BANDAR UTAMA, LEVEL
10, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
1) |
Company Secretary |
: |
MR. IZAM ISKANDAR BIN ISMAIL |
|
IC / PP No |
: |
A2141565 |
|
|
New IC No |
: |
720409-13-5839 |
|
|
Address |
: |
117, JALAN 2, AMPANG JAYA, 68000 AMPANG,
SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DEALERS,CHEMICAL INDUSTRY,DISTRIBUTORS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) MALAYSIAN PLASTICS MANUFACTURERS
ASSOCIATION (MPMA) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE
AND INDUSTRY (MICCI) CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
|
|
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 |
600 |
600 |
600 |
610 |
900 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of chemical
and other related products.
The Subject is partners with BASF ASIA PACIFIC in Germany.
The Subject is a well-known name in the chemical industry and it produces and
markets a wide range of essential chemical products.
The Subject owns a world-class integrated Chemical site in Gebeng, Pahang. It
has an annual production output of approximately 1 million metric tonnes, which
makes the site one of the largest integrated chemical sites in the Asia-Pacific
region.
This 'verbund' (integrated) chemical production facility sited in Gebeng,
Kuantan, Pahang Darul Makmur is the first such facility for BASF in the Asia
Pacific, manufacturing acrylic, oxo-products and butanediol.
The Subject's plants can be categorised into:
1) Plant 1 - Acrylic O Complex
2) Plant 2 - OXO Complex
3) Plant 3 - BDO Complex
The Subject processes and refines petrochemical products and the end products
are raw materials and ingredients for general purposes.
The Subject's product is Petrochemicals which is ethylene and propylene ( for
plastic products),oxygenated, halogen-free are essential to the production of
many pharmaceutical, paints and cosmetic products.
The end-products are among others plastics, adhesives, paints, lacquers, paper,
diapers, automobile and industrial coatings, pharmaceuticals, fine chemicals,
textiles, leather and personal care materials.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality products.
The Subject provides consistent high quality products to their customers. The
Subject also strive to provide them with optimum solutions, be it in the area
of planning, processing or distribution.
The Subject's close relationships with our internal partners, suppliers and
service providers, enable them to coordinate activities and provide integrated
logistic solutions tailor made to the customer’s needs.
The Subject deploy the following facilities to cater to the needs of their
customers:
1. Marine command centre, providing safety vetting of all vessels.
2. Asia Pacific regional planner for bulk shipments.
3. Procurement of logistics solutions.
4. Providing customer service from enquiry stage until order completion.
5. Marine Insurance support and claims handling
6. Booking vessels according to customer requests.
7. Integration of customer supply chains.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78412200 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
JALAN GEBENG 2/1 KAWASAN PERINDUSTRIAN
GEBENG KUANTAN PAHANG DARUL MAKRNUR |
|
Current Address |
: |
2, JALAN ASTAKA U8/87, BUKIT JELUTONG
SEKSYEN U8, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided belongs to the Subject's factory.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
19.06% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
26.94% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The dip in
profit could be due to the stiff market competition which reduced the Subject's
profit margin. The Subject's management had generated acceptable return for
its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
33 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
2.68 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.46 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 |
[ |
102.76 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject recorded lower profits as its
turnover showed a erratic trend. The Subject's management was unable to
control its costs efficiently as its profit showed a downward trend. 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 was a zero gearing company, it
was solely dependant on its shareholders to provide funds to finance its
business. The Subject has good chance of getting loans, if the needs arises. |
||||||
|
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 |
|||||
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
20119 : Manufacture of other basic
chemicals n.e.c. |
|
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
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 |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
2,840,346,000 |
2,749,783,000 |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,840,346,000 |
2,749,783,000 |
3,095,278,000 |
3,453,945,000 |
3,427,887,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
423,032,000 |
449,513,000 |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
423,032,000 |
449,513,000 |
804,062,000 |
1,196,972,000 |
1,294,401,000 |
|
Taxation |
(122,349,000) |
(128,724,000) |
(176,085,000) |
(196,161,000) |
24,239,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
300,683,000 |
320,789,000 |
627,977,000 |
1,000,811,000 |
1,318,640,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
361,876,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
701,776,000 |
716,093,000 |
1,045,304,000 |
1,667,327,000 |
1,680,516,000 |
|
TRANSFER TO RESERVES - General |
- |
- |
- |
- |
(4,000,000) |
|
DIVIDENDS - Ordinary (paid & proposed) |
(465,000,000) |
(315,000,000) |
(650,000,000) |
(1,250,000,000) |
(1,010,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
236,776,000 |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Lease interest |
4,144,000 |
3,732,000 |
3,380,000 |
2,947,000 |
- |
|
Others |
13,000 |
1,000 |
3,000 |
5,000 |
5,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,157,000 |
3,733,000 |
3,383,000 |
2,952,000 |
5,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
95,389 |
133,987,000 |
129,638,000 |
142,507,000 |
227,738,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
95,389 |
133,987,000 |
129,638,000 |
142,507,000 |
227,738,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
BASF PETRONAS CHEMICALS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
817,862,000 |
520,276,000 |
442,923,000 |
533,463,000 |
485,844,000 |
|
Deferred assets |
- |
8,500,000 |
20,258,000 |
32,612,000 |
26,254,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
8,500,000 |
20,258,000 |
32,612,000 |
26,254,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
817,862,000 |
528,776,000 |
463,181,000 |
566,075,000 |
512,098,000 |
|
Stocks |
243,990,000 |
228,045,000 |
211,972,000 |
180,323,000 |
166,595,000 |
|
Contract work-in-progress |
1,706,000 |
3,329,000 |
- |
- |
- |
|
Trade debtors |
253,254,000 |
237,739,000 |
262,533,000 |
495,733,000 |
319,348,000 |
|
Other debtors, deposits & prepayments |
74,745,000 |
10,365,000 |
4,906,000 |
7,121,000 |
10,672,000 |
|
Short term deposits |
261,965,000 |
193,736,000 |
114,631,000 |
215,640,000 |
255,643,000 |
|
Amount due from related companies |
241,563,000 |
278,525,000 |
289,909,000 |
2,971,000 |
397,421,000 |
|
Cash & bank balances |
1,948,000 |
3,424,000 |
13,019,000 |
725,000 |
13,425,000 |
|
Others |
- |
- |
274,000 |
- |
13,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,079,171,000 |
955,163,000 |
897,244,000 |
902,513,000 |
1,163,117,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,897,033,000 |
1,483,939,000 |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
45,226,000 |
27,177,000 |
11,945,000 |
114,936,000 |
23,415,000 |
|
Other creditors & accruals |
50,172,000 |
77,364,000 |
77,085,000 |
63,740,000 |
83,173,000 |
|
Hire purchase & lease creditors |
- |
- |
- |
8,160,000 |
- |
|
Amounts owing to holding company |
46,435,000 |
15,295,000 |
6,483,000 |
2,488,000 |
3,794,000 |
|
Amounts owing to related companies |
143,048,000 |
129,167,000 |
96,155,000 |
5,511,000 |
4,122,000 |
|
Provision for taxation |
21,865,000 |
8,553,000 |
3,961,000 |
24,105,000 |
1,497,000 |
|
Lease payables |
4,778,000 |
6,777,000 |
7,138,000 |
- |
- |
|
Other liabilities |
- |
- |
6,682,000 |
21,310,000 |
153,949,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
311,524,000 |
264,333,000 |
209,449,000 |
240,250,000 |
269,950,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
767,647,000 |
690,830,000 |
687,795,000 |
662,263,000 |
893,167,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,585,509,000 |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,019,420,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,019,420,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
RESERVES |
|||||
|
Share premium |
410,597,000 |
- |
- |
- |
- |
|
Exchange equalisation/fluctuation reserve |
(103,025,000) |
(200,328,000) |
(269,920,000) |
(221,114,000) |
(275,251,000) |
|
Retained profit/(loss) carried forward |
236,776,000 |
401,093,000 |
395,304,000 |
417,327,000 |
666,516,000 |
|
Capital redemption reserve |
14,000,000 |
14,000,000 |
14,000,000 |
14,000,000 |
14,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
558,348,000 |
214,765,000 |
139,384,000 |
210,213,000 |
405,265,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,577,768,000 |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
|
Lease obligations |
- |
4,841,000 |
11,592,000 |
18,125,000 |
- |
|
Deferred taxation |
7,741,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
7,741,000 |
4,841,000 |
11,592,000 |
18,125,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,585,509,000 |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
BASF PETRONAS CHEMICALS SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
263,913,000 |
197,160,000 |
127,650,000 |
216,365,000 |
269,068,000 |
|
Net Liquid Funds |
263,913,000 |
197,160,000 |
127,650,000 |
216,365,000 |
269,068,000 |
|
Net Liquid Assets |
523,657,000 |
462,785,000 |
475,823,000 |
481,940,000 |
726,572,000 |
|
Net Current Assets/(Liabilities) |
767,647,000 |
690,830,000 |
687,795,000 |
662,263,000 |
893,167,000 |
|
Net Tangible Assets |
1,585,509,000 |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
|
Net Monetary Assets |
515,916,000 |
457,944,000 |
464,231,000 |
463,815,000 |
726,572,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
427,189,000 |
453,246,000 |
807,445,000 |
1,199,924,000 |
1,294,406,000 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
427,284,389 |
587,233,000 |
937,083,000 |
1,342,431,000 |
1,522,144,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
4,841,000 |
11,592,000 |
26,285,000 |
0 |
|
Total Liabilities |
319,265,000 |
269,174,000 |
221,041,000 |
258,375,000 |
269,950,000 |
|
Total Assets |
1,897,033,000 |
1,483,939,000 |
1,360,425,000 |
1,468,588,000 |
1,675,215,000 |
|
Net Assets |
1,585,509,000 |
1,219,606,000 |
1,150,976,000 |
1,228,338,000 |
1,405,265,000 |
|
Net Assets Backing |
1,577,768,000 |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
|
Shareholders' Funds |
1,577,768,000 |
1,214,765,000 |
1,139,384,000 |
1,210,213,000 |
1,405,265,000 |
|
Total Share Capital |
1,019,420,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Total Reserves |
558,348,000 |
214,765,000 |
139,384,000 |
210,213,000 |
405,265,000 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.85 |
0.75 |
0.61 |
0.90 |
1.00 |
|
Liquid Ratio |
2.68 |
2.75 |
3.27 |
3.01 |
3.69 |
|
Current Ratio |
3.46 |
3.61 |
4.28 |
3.76 |
4.31 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
32 |
31 |
25 |
19 |
18 |
|
Debtors Ratio |
33 |
32 |
31 |
52 |
34 |
|
Creditors Ratio |
6 |
4 |
1 |
12 |
2 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0.01 |
0.02 |
0 |
|
Liabilities Ratio |
0.20 |
0.22 |
0.19 |
0.21 |
0.19 |
|
Times Interest Earned Ratio |
102.76 |
121.42 |
238.68 |
406.48 |
258,881.20 |
|
Assets Backing Ratio |
1.56 |
1.22 |
1.15 |
1.23 |
1.41 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
14.89 |
16.35 |
25.98 |
34.66 |
37.76 |
|
Net Profit Margin |
10.59 |
11.67 |
20.29 |
28.98 |
38.47 |
|
Return On Net Assets |
26.94 |
37.16 |
70.15 |
97.69 |
92.11 |
|
Return On Capital Employed |
26.94 |
37.16 |
70.15 |
97.04 |
92.11 |
|
Return On Shareholders' Funds/Equity |
19.06 |
26.41 |
55.12 |
82.70 |
93.84 |
|
Dividend Pay Out Ratio (Times) |
1.55 |
0.98 |
1.04 |
1.25 |
0.77 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.